News Archives for Latest - 2024-07-08

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Archive - 2024-07-08

Kenya court rules police killing of journalist Arshad Sharif unlawful

Court orders Kenyan government to pay 10 million Kenyan shillings ($78,000) in compensation

Updated 08 Jul, 2024 11:12pm

PM Shehbaz says govt pursuing reforms agenda for economic growth

Premier says 28,000 agriculture tube wells in Balochistan to be shifted to solar power

Updated 08 Jul, 2024 11:11pm

Middle East

Israel expands Gaza evacuation zone as intense battles rage

GAZA CITY: The Israeli military on Monday expanded an evacuation order for Gaza City, with a new wave of residents...

Updated 08 Jul, 2024 11:09pm

Hamas says Israeli PM creating ‘obstacles’ to Gaza talks

DOHA: The Palestinian group Hamas on Monday accused Israeli Prime Minister Benjamin Netanyahu of obstructing...

Published 08 Jul, 2024 10:31pm

Pakistan’s upper and central parts to receive rain from July 10 to 15: PMD

Pakistan’s upper and central parts are likely to receive rain wind/thundershowers from July 10-15, as per weather...

Updated 08 Jul, 2024 10:30pm

Energy

OGDC revitalises oil producing Kunnar-11 well in Sindh

Oil and Gas Development Company Limited (OGDCL) has successfully revitalised production from Kunnar-11 well located...

Updated 08 Jul, 2024 09:56pm

Stocks

Trading at PSX disrupted after fire incident

PSX notice had earlier stated that trading would resume at 11:25am

Updated 08 Jul, 2024 09:47pm

Stocks

Despite disrupted session, KSE-100 settles at new record high

Fire caused market suspension for over two hours, resulting in lower volumes

Updated 08 Jul, 2024 09:42pm

Stocks

European stocks drop after French election

LONDON: European stocks fell on Monday as investors digested a left-wing alliance win in French snap polls in which...

Published 08 Jul, 2024 09:34pm

Stocks

London stocks subdued as non-life insurers offset resource sector slide

London stocks began the week on a muted note, with resource shares edging lower and investors awaiting fresh...

Published 08 Jul, 2024 09:29pm

USA

Appeal confirms acquittal of six police in Swiss ‘George Floyd’ case

RENENS: A Swiss appeals court confirmed Monday the acquittal of six police officers charged over the death of a...

Published 08 Jul, 2024 09:25pm

Forex

Rupee sees marginal decline against US dollar

Currency settles at 278.50 against the greenback in inter-bank market

Updated 08 Jul, 2024 08:47pm

Stocks

S&P 500, Nasdaq notch record highs with inflation data, earnings in focus

The Nasdaq and the S&P 500 hit record highs on Monday, while the Dow scaled a more than one-month high as...

Published 08 Jul, 2024 08:26pm

Europe

Zelenskiy says Hungary’s Orban cannot be mediator in Ukraine war

KYIV: President Volodymyr Zelenskiy said on Monday Hungarian Prime Minister Viktor Orban could not mediate between...

Published 08 Jul, 2024 08:20pm

President Zardari summons National Assembly session on Tuesday

President Asif Ali Zardari has summoned the National Assembly session on Tuesday (tomorrow). “The National Assembly...

Published 08 Jul, 2024 07:43pm

Stocks

Most Gulf markets gain on US rate cut hopes

Most stock markets in the Gulf ended higher on Monday as investors grew more optimistic about a September U.S. rate...

Published 08 Jul, 2024 07:12pm

Energy

Oil slips as Gaza talks ease supply worries, Hurricane Beryl in focus

Oil prices edged lower on Monday after gaining for four weeks as supply disruption worries eased on hopes of a...

Updated 08 Jul, 2024 07:02pm

LHC orders removal of Parvez Elahi, family from Passport Control List

The Lahore High Court (LHC) on Monday ordered the authorities concerned to remove the names of Pakistan...

Published 08 Jul, 2024 07:00pm

South Asia

Modi lands in Russia for first visit since Ukraine offensive

MOSCOW: Prime Minister Narendra Modi arrived in Russia on Monday, as the Indian leader treaded a fine line between...

Published 08 Jul, 2024 06:43pm

Companies

Meri Gari: Pakistan’s ‘best app’ for road freight

In Pakistan, the road freight industry is being transformed by Meri Gari, a tech-driven and service-led trucking...

Published 08 Jul, 2024 06:35pm

Bullion Rate

Gold price per tola decreases Rs1,300 in Pakistan

After increasing in the previous four trading sessions, gold prices in Pakistan registered losses on Monday in line...

Updated 08 Jul, 2024 06:33pm

Stocks

PSX chief Farrukh H. Khan set to join Jazz as CFO

Farrukh H Khan, who resigned from his positions of CEO and Managing Director of Pakistan Stock Exchange (PSX), is...

Updated 08 Jul, 2024 06:26pm

Stocks

Building housing brokerage houses suffers ‘limited damage’, says PSX after fire incident

Updated 08 Jul, 2024 06:15pm

Azeri firm seeks legislative safeguards for its investment in Pakistan

Details shared during recent meeting convened to fine-tune investment proposals to be presented during the visit of Azerbaijan President this week

Updated 08 Jul, 2024 05:48pm

Cricket

Shastri wants fewer Test teams, MCC chief backs T20 in changing landscape

LONDON: Restricting Test cricket to six or seven teams and using the 20-overs format as the vehicle to spread the...

Published 08 Jul, 2024 05:41pm

South Asia

Sri Lanka set to amend decades-old law to pave Starlink entry

COLOMBO: Sri Lanka’s parliament will vote this week to change a law to allow Elon Musk’s Starlink, the satellite...

Published 08 Jul, 2024 05:26pm

Stocks

Indian shares flat as consumer stocks offset drop in Titan, banks

BENGALURU: Indian benchmarks closed little changed on Monday as a slide in jeweler Titan and the Bank of Baroda-led...

Published 08 Jul, 2024 05:20pm

Stocks

Sri Lankan shares fall as financial, communication stocks dip

CSE All-Share index fell nearly 0.9% to 11,841.86

Published 08 Jul, 2024 05:15pm

Commodities

Copper steady as weak dollar counters sluggish demand in China

LONDON: Copper prices were steady on Monday as the market balanced a weaker dollar against persisting weak demand...

Published 08 Jul, 2024 05:10pm

MENA

Three Gazans found dead after release from Israeli custody, relative and witness say

GAZA: The handcuffed bodies of three Palestinian men freed from Israeli custody have been found near Gaza’s border...

Published 08 Jul, 2024 03:52pm

Saving the planet: there is a link between gender inequality and climate change

One of the most significant challenges encountered by the world today is gender inequality and the disproportionate...

Published 08 Jul, 2024 03:47pm

Europe

‘No time to waste’: UK’s Rachel Reeves starts to tackle growth barriers

LONDON: Britain’s finance minister Rachel Reeves said on Monday she had begun the task of unblocking infrastructure...

Published 08 Jul, 2024 03:42pm

Stocks

Most Gulf markets ease on falling oil prices

Most stock markets in the Gulf were subdued in early trade on Monday after a decline in oil prices, although the...

Published 08 Jul, 2024 03:15pm

MENA

Israeli tanks storm Gaza City districts, residents report heavy fire

CAIRO: Israeli forces bombarded Gaza City early on Monday and columns of tanks advanced into the heart of the city...

Updated 08 Jul, 2024 03:12pm

Forex

Ugandan shilling weakens on increased FX demand from banks, importers

KAMPALA: The Ugandan shilling weakened on Monday due to increased demand for dollars from commercial banks and...

Published 08 Jul, 2024 02:46pm

Europe

Vladimir Putin to meet India’s Narendra Modi for talks in Moscow on Monday

MOSCOW: Russian President Vladimir Putin will hold face-to-face talks with Indian Prime Minister Narendra Modi in...

Published 08 Jul, 2024 02:43pm

Europe

Russian daytime attack on Ukraine kills at least 20, hits children’s hospital in Kyiv

KYIV: Russia launched a barrage of missiles on Kyiv and other Ukrainian cities in a rare daytime attack on Monday,...

Published 08 Jul, 2024 02:40pm

Europe

Mine blast kills five in Ukraine’s Kharkiv region: governor

KYIV: Five people were killed, including two children, when their vehicle hit a Russian mine in Ukraine’s eastern...

Published 08 Jul, 2024 02:33pm

Stocks

European shares dip as France faces hung Parliament

European shares slipped on Monday as France was set for a hung parliament with a leftist alliance unexpectedly...

Published 08 Jul, 2024 01:08pm

Commodities

Jordan tenders to buy up to 120,000 metric tons feed barley, traders say

HAMBURG: Jordan’s state grains buyer has issued an international tender to purchase up to 120,000 metric tons of...

Published 08 Jul, 2024 01:06pm

Forex

South African rand slightly weaker on stronger dollar

JOHANNESBURG: The South African rand was slightly weaker in early trade on Monday, as the dollar recovered after...

Published 08 Jul, 2024 01:04pm

Mutual Funds

JGB yields rise as fast-paced wage increase drives BOJ’s rate hike bets

TOKYO: Japanese government bond yields rose on Monday as data for a fast-paced wage increase drove bets for another...

Published 08 Jul, 2024 01:03pm

France hoping captain Kylian can deliver against Spain in Euro 2024 semi

MUNICH: France go into Tuesday’s Euro 2024 semi-final showdown against Spain hoping Kylian Mbappe can finally...

Published 08 Jul, 2024 12:28pm

Three key battles as Spain face France in Euro 2024 semis

MUNICH: With five Euros titles between them, Spain and France face off in Tuesday’s semi-finals in Munich hoping to...

Published 08 Jul, 2024 12:22pm

Taxes: Aurangzeb for breaking IMF bailout cycle

It's about time we get real, ball is in our court to provide bankable and investable projects, says finance minister on attracting foreign investment

Updated 08 Jul, 2024 12:17pm

Europe

New UK PM Starmer visits Northern Ireland

BELFAST: Keir Starmer makes his first visit as UK prime minister to Northern Ireland on Monday, with hopes high on...

Published 08 Jul, 2024 12:04pm

India says Rohit Sharma to remain Test and one-day captain

NEW DELHI: Rohit Sharma will stay on as captain of India’s Test and one-day teams, the country’s cricket board said,...

Published 08 Jul, 2024 11:58am

Sanath Jayasuriya to replace Silverwood as Sri Lanka coach

COLOMBO: Former Sri Lanka skipper and one-time chief selector Sanath Jayasuriya said Monday he will be the new head...

Published 08 Jul, 2024 11:56am

Stocks

Miners drag Australian shares lower on weaker iron ore prices

Australian shares started the week lower on Monday, as miners weighed on the benchmark index due to falling iron ore...

Published 08 Jul, 2024 11:48am

Gauff hails depth in women’s tennis despite Wimbledon exit

LONDON: Rather than despairing at the carnage left behind in the women’s draw at Wimbledon, the evidence shows that...

Published 08 Jul, 2024 11:46am

Commodities

Wheat gives back some gains as US dollar steadies

CANBERRA: Chicago wheat futures fell on Monday as the US dollar rose, reversing the dynamic of last week when a...

Published 08 Jul, 2024 11:26am

Commodities

Copper supported by Fed rate cut expectations, demand outlook

BEIJING: Copper prices inched higher on Monday, supported by rising expectations of US interest rate cuts and an...

Published 08 Jul, 2024 11:21am

Energy

Malaysia’s Petronas adds three new LNG vessels ahead of LNG Canada start-up

KUALA LUMPUR: Malaysian state energy firm Petroliam Nasional Berhad (Petronas) on Monday said it would add three...

Published 08 Jul, 2024 11:17am

Asia

Hungary’s Viktor Orban arrives in China on Ukraine peace mission

BEIJING: Hungary’s Prime Minister Viktor Orban arrived in Beijing on Monday after talks on a potential Ukrainian...

Published 08 Jul, 2024 11:14am

Energy

China’s CNPC, Samruk-Kazyna to build wind power plant in Kazakhstan

BEIJING: China National Petroleum Corporation (CNPC) and Kazakh state welfare fund Samruk-Kazyna inked a deal for...

Published 08 Jul, 2024 11:09am

South Asia

Monsoon rains flood India’s financial capital of Mumbai

MUMBAI: Heavy rains flooded roads and railway tracks on Monday in India’s financial capital of Mumbai, pushing...

Published 08 Jul, 2024 10:58am

Paramount and Skydance agree to merge, ending Redstone era

Skydance Media and Paramount Global agreed to merge, the companies announced late Sunday evening, opening a new...

Published 08 Jul, 2024 10:56am

Forex

China’s yuan holds steady as PBOC plans to start new liquidity operations

SHANGHAI: China’s yuan held steady against the dollar on Monday as the central bank’s latest move to take more...

Published 08 Jul, 2024 10:51am

Europe

Hungary PM Orban says he ‘appreciates’ the Chinese peace initiative for Ukraine

BUDAPEST: China is a key power in creating the conditions for peace in the Russia-Ukraine war, Hungarian Prime...

Published 08 Jul, 2024 10:47am

Stocks

China stocks fall for fifth session as economic, geopolitical woes weigh

SHANGHAI: China stocks fell for a fifth straight session on Monday, with investors hoping for more policy stimulus...

Published 08 Jul, 2024 10:44am

Asia

Landslides kill 12 on Indonesia’s Sulawesi island, 18 missing

JAKARTA: At least 12 people died and 18 are missing after a torrential rain caused a landslide in an illegal gold...

Published 08 Jul, 2024 10:40am

Europe

2024 could be world’s hottest year as June breaks records

BRUSSELS: Last month was the hottest June on record, the EU’s climate change monitoring service said on Monday,...

Published 08 Jul, 2024 10:31am

Mutual Funds

India bond yields marginally lower as US peers decline

MUMBAI: Indian government bond yields edged lower in the early session on Monday, tracking a decline in their US...

Published 08 Jul, 2024 10:19am

Forex

Indian rupee up slightly as Asia FX takes a ‘breather’ on dip in US bond yields

MUMBAI: The Indian rupee was mildly stronger on Monday, tracking a rise in its Asian peers, which were aided by a...

Published 08 Jul, 2024 10:17am

Companies

Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes

NEW YORK/WASHINGTON: Boeing has agreed to plead guilty to a criminal fraud conspiracy charge to resolve a US Justice...

Published 08 Jul, 2024 10:15am

MENA

Dubai’s high-end property sales undented by drop in listings, consultancy says

DUBAI: The number of homes worth $10 million or more that were sold in Dubai held steady in the first half of the...

Published 08 Jul, 2024 10:09am

Bullion Rate

Gold eases from May peak on profit taking

Gold prices slipped on Monday, as investors booked profits after bullion hit a more than one-month high in the...

Published 08 Jul, 2024 10:00am

Stocks

Japan’s Nikkei posts limited gains as profit-taking weighs

TOKYO: Japan’s Nikkei share average edged higher on Monday, with further gains capped by profit-taking after both...

Published 08 Jul, 2024 09:58am

Stocks

Indian shares set to open higher; Titan, IndusInd Bank, Tata Motors in focus

BENGALURU: Indian shares are set to open higher on Monday, as soft US jobs data has boosted hopes of a Federal...

Published 08 Jul, 2024 09:55am

Stocks

Asia shares firm, euro dogged by French political deadlock

SYDNEY: Asian stocks inched higher on Monday as investors grew more confident about a September US rate cut, while...

Published 08 Jul, 2024 09:53am

Forex

Australian dollar holds gains as yields attract; kiwi edgy into RBNZ meet

SYDNEY: The Australian dollar hovered near a six-month high on Monday, drawing support from favourable yield...

Published 08 Jul, 2024 09:51am

Forex

Euro eases on French poll gridlock, dollar sluggish after US payrolls

TOKYO: The euro slipped on Monday after projections from France’s election pointed to a hung parliament amid an...

Published 08 Jul, 2024 09:49am

OMAP concerned at budget impacts on industry

LAHORE: The Oil Marketing Association of Pakistan (OMAP) has expressed concerns about the recent budget announcement...

Updated 08 Jul, 2024 09:23am

Special Judge C&ET Karachi to take up tax fraud case on 27th

ISLAMABAD: Special Judge Customs & Excise Taxation Karachi will take up the matter of alleged tax fraud on fake/...

Updated 08 Jul, 2024 09:22am

Omer’s house raided after ATC Sargodha issues arrest warrants

ISLAMABAD: Islamabad police on Sunday conducted a raid at the residence of Opposition Leader in National Assembly...

Updated 08 Jul, 2024 09:21am

Private sector’s participation in privatisation of Discos: World Bank agrees to extend financial support under NLTA

ISLAMABAD: The World Bank (WB) has agreed to extend financial support to the government to facilitate private sector...

Updated 08 Jul, 2024 09:20am

PM underscores need for boosting seaports’ efficiency

KARACHI: Prime Minister Muhammad Shehbaz Sharif has directed the formulation of a comprehensive plan for the...

Updated 08 Jul, 2024 09:19am

Action ordered against officials involved in over-billing

ISLAMABAD: A day after Prime Minister Shehbaz Sharif took notice of over-billing of protected electricity consumers,...

Updated 08 Jul, 2024 09:06am

Latest scanners on ports: FBR directed to prioritise installation

KARACHI: Prime Minister Shehbaz Sharif on Sunday said that the government was taking steps for the development of...

Updated 08 Jul, 2024 09:04am

Defamation suit: ADSJ Lahore summons FBR officers

ISLAMABAD: Additional District and Sessions Judge, Lahore (ADSJ) has summoned Chief Commissioner Inland Revenue, and...

Updated 08 Jul, 2024 09:03am

SC asks whether or not govt can promise tax credit and then take it away retrospectively?

ISLAMABAD: The Supreme Court was asked to decide whether the government can first encourage businesses to make fresh...

Updated 08 Jul, 2024 09:03am

BR’s refresher: your morning briefing for the day

Important updates from July 6 and July 7, 2024

Published 08 Jul, 2024 08:59am

Only some bold steps can help govt fix the economy

Last week, CFA Society Pakistan conducted a seminar in Karachi where two former Deputy Governors of State Bank of...

Updated 08 Jul, 2024 08:44am

An IMF budget or not?

Several prominent federal ministers publicly stated that the taxation measures approved by parliament on 28 June ...

Updated 08 Jul, 2024 08:43am

Oil’s wild ride – a balancing act

Crude oil prices have remained relatively higher in 2024, with some dips when global organizations cut their demand...

Published 08 Jul, 2024 08:40am

Politicians’ Power Promises Short-Circuit Reality

The politicians in the federal and provincial governments are playing ping pong to counter the rising electricity...

Published 08 Jul, 2024 08:39am

BJP and Hindutva politics

EDITORIAL: Rahul Gandhi’s first speech as leader of the opposition during the motion of thanks on President’s...

Updated 08 Jul, 2024 08:36am

Javedan Corporation Limited

Javedan Corporation Limited (PSX: JVDC) was incorporated in Pakistan as a public limited company in 1961. The...

Published 08 Jul, 2024 08:35am

There’s need to say ‘no’ emphatically

EDITORIAL: One of the most challenging and thankless jobs under the current economic conditions in Pakistan is that...

Updated 08 Jul, 2024 08:34am

Challenges await as UBS makes Credit Suisse merger official

ZURICH: Banking giant UBS on Monday officially merged its Swiss branches with those of Credit Suisse, but huge...