News Archives for Latest - 2024-07-05

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Archive - 2024-07-05

Europe

Russian strikes kill 4, wound 23 in east Ukraine

KYIV: Russian attacks killed four and wounded nearly two dozen others in the eastern Donetsk region of Ukraine on...

Published 05 Jul, 2024 11:10pm

Hamas official says expects quick Israeli response to ceasefire ‘ideas’

GAZA STRIP: A top Hamas official told AFP Friday the group expects a swift Israeli response – “likely today or...

Published 05 Jul, 2024 11:06pm

Stocks

Nasdaq gains on megacap boost as markets assess payrolls data

The Dow and the S&P 500 struggled for direction on Friday as investors assessed mixed payrolls data for cues on...

Published 05 Jul, 2024 09:36pm

Stocks

London midcaps touch more than two-year highs as Labour Party returns to power

Britain’s domestic-focused stocks logged their best week in more than five months on Friday after a landslide...

Published 05 Jul, 2024 09:32pm

Europe

Keir Starmer pledges to stabilise UK as Labour win huge majority

The centre-left Labour Party ends 14 years of often tumultuous Conservative government

Updated 05 Jul, 2024 08:32pm

Cricket

Pakistan to host Bangladesh, England and West Indies Tests

KARACHI: Pakistan on Friday announced Test matches against Bangladesh, England and the West Indies – as well as a...

Updated 05 Jul, 2024 08:23pm

Ruet-e-Hilal Committee to meet on Saturday for Muharram moon sighting

A meeting of Central and Zonal Ruet-e-Hilal Committees will be held on Saturday (Zilhaj 29) to sight the crescent of...

Published 05 Jul, 2024 08:13pm

Meta drives conversations on responsible content creation with Pakistan’s Facebook community

KARACHI: Meta has collaborated with Ali Gul Pir – Pakistani content creator and comedian – to host a four-episode...

Published 05 Jul, 2024 07:14pm

Companies

Pakistan’s DealCart announces $3mn seed round led by international investors

DealCart, a Pakistani social e-commerce startup, announced on Thursday that it has successfully raised $3 million in...

Updated 05 Jul, 2024 07:09pm

Companies

Transaction complete: UBL sells off stake in its UK subsidiary to Bestway Group

United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has successfully concluded the transaction...

Updated 05 Jul, 2024 07:09pm

Exchange

Rupee registers minor gain against US dollar

Currency settles at 278.38 against the greenback in the inter-bank market

Updated 05 Jul, 2024 07:02pm

PTI to attend govt’s APC despite concerns over Operation Azm-e-Istehkam: Imran Khan

PTI founder believes the new anti-terrorism campaign would 'only lead to further instability' in country

Published 05 Jul, 2024 06:55pm

Energy

Global LNG: Asia spot prices decline on waning Chinese demand

LONDON: Asian spot liquefied natural gas (LNG) prices were down this week but remained firm above $12, causing...

Published 05 Jul, 2024 06:39pm

Energy

Oil prices on track for fourth straight week of gains

Oil prices steadied near their highest levels since late April on Friday, and were on track for a fourth straight...

Updated 05 Jul, 2024 06:36pm

Stocks

KSE-100 closes week marginally negative

The Pakistan Stock Exchange (PSX) ended another trading session on a flat note as the benchmark KSE-100 index...

Published 05 Jul, 2024 06:12pm

Stocks

UAE bourses edge higher on US rate cut bets

Stock markets in the United Arab Emirates edged higher on Friday as optimism about a U.S. interest rate cut...

Published 05 Jul, 2024 06:10pm

Stocks

Sri Lankan shares end higher as energy, consumer staple stocks gain

CSE All Share index settled up 0.17% at 11,947.43

Published 05 Jul, 2024 06:01pm

Money & Banking

Ukraine foreign currency reserves slip to $37.9bn, central bank says

KYIV: Ukraine’s foreign currency reserves slipped to $37.9 billion at the start of July, the central bank said on...

Published 05 Jul, 2024 05:38pm

Commodities

Asia gold: High gold prices dull activity in India and China

Physical gold dealers in India offered discounts for the ninth consecutive week due to high prices, as they await a...

Published 05 Jul, 2024 05:32pm

South Asia

Sri Lanka to save $3bn in debt write-offs post bond rework, president says

COLOMBO: Sri Lanka will save $3 billion in debt write-offs from commercial creditors once a provisional deal to...

Published 05 Jul, 2024 05:28pm

Europe

Erdogan says Putin visit could help Turkiye-Syria ties

ANKARA: Turkish President Tayyip Erdogan said a possible visit to Turkiye by Russia’s Vladimir Putin could pave the...

Published 05 Jul, 2024 05:22pm

Europe

Ukraine receives third Patriot air defence system from Germany, envoy says

KYIV: Ukraine has taken receipt of its third German-supplied Patriot air defence system, Berlin’s ambassador to Kyiv...

Published 05 Jul, 2024 05:19pm

South Asia

Modi to seek early discharge of Indians from Russian army in Moscow talks

NEW DELHI: The early discharge sought by India of its nationals who were “misled” into serving in the Russian army...

Published 05 Jul, 2024 05:13pm

Money & Banking

India’s forex reserves fall to $652 billion as of June 28

MUMBAI: India’s foreign exchange reserves fell by $1.7 billion last week to stand at $652 billion as of June 28,...

Published 05 Jul, 2024 05:04pm

Stocks

India’s Nifty 50 posts record close, longest weekly rally of 2024

BENGALURU: India’s blue-chip Nifty 50 notched another record closing high on Friday, shrugging off a slide in HDFC...

Published 05 Jul, 2024 04:59pm

Commodities

Copper hits three-week high on interest rate hopes

LONDON: Copper prices in London hit their highest in more than three weeks on Friday, on course for the first weekly...

Published 05 Jul, 2024 04:54pm

Luxury

Michelin Guide reveals 2024 Dubai list

New Michelin-starred restaurants include Row on 45, Orfali Bros, Smoked Room

Published 05 Jul, 2024 04:43pm

Commodities

Palm posts best week in five

JAKARTA: Malaysian palm oil futures closed with their best week in five, even as prices fell on Friday as traders...

Published 05 Jul, 2024 04:51pm

Business & Economy

Dr Gohar Ejaz urges govt to provide relief to salaried class

Former caretaker minister also advocates lowering key interest rate

Updated 05 Jul, 2024 04:45pm

At least three killed, several injured in Mardan bomb blast

At least three people were killed and eight others injured on Friday in an explosion in Khyber Pakhtunkhwa’s (KPK)...

Updated 05 Jul, 2024 04:34pm

Stocks

Farrukh H Khan resigns as Pakistan Stock Exchange CEO

Farrukh H Khan has resigned from the position of Chief Executive Officer (CEO) of Pakistan Stock Exchange Limited...

Updated 05 Jul, 2024 04:32pm

Bullion Rate

Gold price per tola increases another Rs1,100 in Pakistan

Gold prices in Pakistan registered gains for the third successive session on Friday in line with an increase in the...

Published 05 Jul, 2024 04:22pm

MENA

Real estate developer announces AED210mn mall in Dubai for 2026

A new mall is set to open its doors in 2026, announced Sobha Realty, a leading global luxury real estate developer,...

Published 05 Jul, 2024 04:18pm

‘Fashion power’: Zarny, the Myanmar refugee turned Tokyo designer

TOKYO: Having fled Myanmar for Japan with his parents as a child, Shibuya Zarny began his fashion career as a model...

Published 05 Jul, 2024 03:57pm

Forex

Kenyan shilling flat as traders see protests cooling off

NAIROBI: The Kenyan shilling was unchanged in quiet trade on Friday morning, as traders saw anti-government protests...

Published 05 Jul, 2024 03:50pm

Commodities

India’s May tea output falls 30%, lowest level in over a decade

MUMBAI: India’s tea production in May plunged more than 30% from a year earlier to 90.92 million kilograms (kg), its...

Published 05 Jul, 2024 03:46pm

Europe

UK PM Sunak to resign as prime minister and Conservative leader

LONDON: Britain’s Rishi Sunak said he would meet King Charles to formally resign as prime minister on Friday and...

Published 05 Jul, 2024 02:54pm

Commodities

French soft wheat yield seen 11% below 10-year average

PARIS: This year’s French soft wheat harvest is expected to show a yield 11% below the 10-year average, due to a...

Published 05 Jul, 2024 02:34pm

‘Spaceship’ observatory allows Cyprus stargazers a peek at the final frontier

AGRIDIA, Cyprus: A new space observatory in Cyprus looks like it just uncloaked itself on the set of a sci-fi movie...

Published 05 Jul, 2024 02:18pm

Middle East

Five killed in Israeli raid in West Bank: Palestinian health ministry

JENIN: An Israeli military raid on Jenin in the occupied West Bank on Friday left five people dead, the Palestinian...

Published 05 Jul, 2024 01:36pm

884MW Suki Kinari project: NESPAK jubilant over hi-pot testing of transmission line on time

ISLAMABAD: National Engineering Services Pakistan (Pvt) Limited is jubilant over hi-pot testing of transmission line...

Updated 05 Jul, 2024 01:47pm

Discos’ consumers: Nepra set to hold hearing to put its stamp on revised SoT

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) is all set to hold a public hearing to put a...

Updated 05 Jul, 2024 01:46pm

Europe

Ex-prime minister Liz Truss loses seat at UK election

LONDON: Liz Truss, Britain’s shortest-serving prime minister, suffered further political ignominy Friday when she...

Published 05 Jul, 2024 01:43pm

Stocks

Europe equities rise at open as Labour win UK election

LONDON: Europe’s stock markets rose in opening deals on Friday as investors digested news that Labour, as expected,...

Published 05 Jul, 2024 01:40pm

Europe

Volodymyr Zelensky hails Starmer win, says UK, Ukraine are ‘reliable allies’

KYIV: Ukrainian President Volodymyr Zelensky on Friday congratulated Labour leader Keir Starmer on his party’s...

Published 05 Jul, 2024 01:38pm

Europe

Emmanuel Macron says France to ‘pursue cooperation’ with UK after Labour win

PARIS: French President Emmanuel Macron congratulated Labour Party leader Keir Starmer on his election victory...

Published 05 Jul, 2024 01:31pm

Middle East

Hezbollah, Hamas discuss latest developments in Gaza ceasefire talks, Hezbollah says

BEIRUT: Lebanon’s Hezbollah leader Sayyed Hassan Nasrallah and top Hamas official Khalil Al-Hayya discussed the...

Published 05 Jul, 2024 12:21pm

Stocks

British stocks, bond prices rise after Labour election win

LONDON: British stock and government bond prices rose on Friday after the centre-left Labour Party surged to a...

Published 05 Jul, 2024 12:18pm

Forex

China’s yuan steady as PBOC hints about bond sales push up yields

SHANGHAI: China’s yuan held steady on Friday against the US dollar as yields for Chinese government bonds rose...

Published 05 Jul, 2024 12:15pm

‘Dude, don’t disrespect me,’ says Fritz to bitter Wimbledon rival

LONDON: Taylor Fritz reignited his bitter feud with Arthur Rinderknech at Wimbledon on Thursday when he told the...

Published 05 Jul, 2024 12:07pm

Gareth Southgate under pressure to twist for Euros showdown with Swiss

DÜSSELDORF: Saved by a dramatic late fightback to beat Slovakia, Gareth Southgate will take charge of England for...

Published 05 Jul, 2024 11:54am

Zimbabwe, India look to future in T20 series

HARARE: Zimbabwe and India will be looking to the future when they start a five-match Twenty20 international series...

Published 05 Jul, 2024 11:51am

Germany face Spain, France take on Portugal in thrilling Euro 2024 quarters

STUTTGART: Hosts Germany take on Spain in the first of two blockbuster quarter-final ties at Euro 2024 on Friday,...

Published 05 Jul, 2024 11:47am

South Asia

India’s Modi heads to Moscow for first visit since Ukraine invasion

MUMBAI: Indian Prime Minister Narendra Modi on Monday makes his first visit to Russia since the invasion of Ukraine,...

Published 05 Jul, 2024 11:41am

Europe

NATO summit to push for standardizing shells

BRUSSELS: NATO is set to issue its first ever defence industrial pledge at its Washington summit on Wednesday,...

Published 05 Jul, 2024 11:34am

Europe

Child killed after Ukrainian attack on Russia’s Krasnodar region, governor says

A six-year-old girl died in hospital after a drone attack on the town of Primorsko-Akhtarsk in Russia’s Krasnodar...

Published 05 Jul, 2024 11:29am

Stocks

Asia stocks notch records; pound calm after Labour landslide

SINGAPORE: Asian share markets scaled new highs on Friday as investors sized up US rate cuts for September and the...

Published 05 Jul, 2024 11:21am

Europe

Nigel Farage wins seat in UK parliament

CLACTON-ON-SEA: Nigel Farage, leader of the right-wing Reform UK party, won a seat in the British parliament for the...

Published 05 Jul, 2024 11:17am

Hurricane Beryl zeroes in on Mexico resorts, strengthens to Category 3

TULUM/CANCUN: Hurricane Beryl strengthened to a Category 3 storm on Thursday evening as it zeroed in on Mexico’s top...

Published 05 Jul, 2024 11:13am

MENA

Iranians vote in run-off presidential election amid widespread apathy

DUBAI: Iranians will vote in a run-off presidential election on Friday amid voter apathy and heightened regional...

Published 05 Jul, 2024 11:09am

Commodities

Palm oil tracks Dalian rivals lower but set for weekly gain

JAKARTA: Malaysian palm oil futures tracked rival Dalian oils lower on Friday, but were on track for a second...

Published 05 Jul, 2024 10:57am

Argentina beat Ecuador on penalties to move into Copa America semis

HOUSTON: Argentina beat Ecuador 4-2 on penalties to move into the semi-finals of the Copa America on Thursday after...

Published 05 Jul, 2024 10:42am

Europe

Scottish National Party’s poor UK election showing derails independence push

LONDON: The Scottish National Party was set for its worst showing at a British parliamentary election since 2010,...

Published 05 Jul, 2024 10:39am

Bitcoin slides to four-month lows, ether sinks 8%

SINGAPORE: Bitcoin sank to a four-month low on Friday and was on course for its worst weekly performance in a year,...

Published 05 Jul, 2024 10:34am

Europe

Senior UK Conservative Jacob Rees-Mogg fails to win seat in election

LONDON: Former British Conservative minister Jacob Rees-Mogg failed to win the parliamentary seat of North East...

Published 05 Jul, 2024 10:31am

Stocks

Cyclical and consumer shares drag China stocks down

SHANGHAI: China stocks fell on Friday, dragged by cyclical and consumer shares, while investors were watching moves...

Published 05 Jul, 2024 10:03am

Bullion Rate

Gold eyes second straight weekly rise; spotlight on US payrolls

Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited US employment...

Published 05 Jul, 2024 09:59am

Mutual Funds

Indian bond yields flat; debt auction, US jobs data on tap

MUMBAI: Indian government bond yields were flat in the early session on Friday, with the benchmark yield hovering...

Published 05 Jul, 2024 09:57am

Forex

Indian rupee bias on upside amid dollar decline before key US jobs report

MUMBAI: The Indian rupee is expected to do well on Friday in the wake of the dollar’s decline before a jobs report...

Published 05 Jul, 2024 09:55am

Stocks

Australian shares retreat as commodity stocks drag

Australian shares slipped on Friday after two straight sessions of gains, with commodity-related stocks and...

Published 05 Jul, 2024 09:53am

Stocks

Japanese shares climb record peaks; market eyes US data

TOKYO: Japan’s Nikkei share average and the broader Topix index both touched record highs on Friday, although they...

Published 05 Jul, 2024 09:52am

Stocks

Indian shares open lower dragged by HDFC Bank

BENGALURU: Indian shares opened lower on Friday, dragged by top private lender HDFC Bank, which reported a...

Published 05 Jul, 2024 09:49am

Forex

Dollar at three-week lows; pound takes UK election in stride

SINGAPORE: The US dollar was hovering near three-week lows on Friday ahead of payrolls data that will likely...

Published 05 Jul, 2024 09:48am

Philippine central bank says inflation to settle within target in 2024, 2025

MANILA: The Philippine central bank said on Friday that risks to inflation have shifted to the downside and it...

Published 05 Jul, 2024 09:45am

5th July - a metaphor for destruction, degradation and decline

July 5th is the darkest day in the history of Pakistan. Forty-five years ago, on July 5, 1979, military dictator...

Updated 05 Jul, 2024 09:42am

Unregistered retailers: 2.5pc advance tax stirs up a hornet’s nest

Thrusts entire FMCG sector into the role of withholding agents

Updated 05 Jul, 2024 09:33am

FY24: forex reserves record increase of over $5bn on foreign inflows

Foreign exchange position improved during the last fiscal year supported by arrival of inflows from the international financial and multilateral agencies

Updated 05 Jul, 2024 09:30am

HBFC sell-off progress reviewed: Talks held with interested business group

ISLAMABAD: Federal Minister Privatisation Abdul Aleem Khan, Minister for Finance Muhammad Aurangzeb and Minister for...

Updated 05 Jul, 2024 09:28am

SCO member states’ summit: Pakistan will extend invitations to all heads

ISLAMABAD: The Foreign Office, on Thursday, categorically rejected the “baseless” assertions made about Pakistan in...

Updated 05 Jul, 2024 09:19am

Detection of tax fraud cases: PM directs FBR to expedite efforts

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to expedite efforts for...

Updated 05 Jul, 2024 09:18am

Transition plan to wind up PWD: ED creates surplus pool of 7,000 employees

ISLAMABAD: The Establishment Division has created a surplus pool of around 7000P Public Works Department (PWD)...

Updated 05 Jul, 2024 09:18am

Power minister promises tariff relief

ISLAMABAD: Federal Minister for Energy Awais Leghari acknowledged on Thursday the current high electricity prices in...

Updated 05 Jul, 2024 08:55am

Tax exemption on POL products: FBR suffers massive revenue loss in 2022-23

ISLAMABAD: The Federal Board of Revenue (FBR) has suffered revenue loss of Rs 1.25 trillion during 2022-23 on...

Updated 05 Jul, 2024 08:51am

‘Unjust’ budget: MoC, exporters join the chorus against MoF, FBR

ISLAMABAD: The Commerce Ministry and exporters on Thursday joined the chorus against Finance Ministry and Federal...

Updated 05 Jul, 2024 08:49am

BR’s refresher: your morning briefing for the day

Important updates from July 4, 2024

Published 05 Jul, 2024 08:45am

FE-25 financing indicating imminent currency adjustment?

The currency market looks confused. Over the past twelve months, export financing – both pre- and post-shipment –...

Published 05 Jul, 2024 08:33am

Archroma Pakistan Limited

Archroma Pakistan Limited (PSX: ARPL) is a limited liability company that was previously known as Sandoz (1963-1995)...

Published 05 Jul, 2024 08:29am

Election Commission of India saved Indian democracy?

The Election Commission of India (ECI) saved Indian democracy by holding free and fair, credible elections. While...