News Archives for Latest - 2024-07-10

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Archive - 2024-07-10

Exchange

Rupee slips lower against US dollar

Currency settles at 278.51 against the US dollar in inter-bank market

Updated 10 Jul, 2024 11:33pm

Stocks

KSE-100 retreats, falls over 1% to close below 80,000 amid selling pressure

Winning momentum brought to an end due to profit-taking

Updated 10 Jul, 2024 11:31pm

PM Shehbaz says no decision made regarding wheat exports

Prime Minister Shehbaz Sharif said Wednesday that the government has not yet decided on wheat exports, Radio...

Updated 10 Jul, 2024 11:30pm

Business & Economy

6 months of 2024: Pakistan’s startup funding falls 92%, amounts to measly $3mn

Pakistan’s startups attracted a measly $3 million in the first half of 2024, a massive 92% lower year-on-year,...

Updated 10 Jul, 2024 11:27pm

Wahab Riaz, Abdul Razzaq sacked from selection committee after T20 World Cup debacle

Changes continued to be the hallmark as the Pakistan Cricket Board (PCB) sacked former Test cricketers Wahab Riaz...

Updated 10 Jul, 2024 11:25pm

MENA

Israel presses Gaza aggression hours after deadly airstrike on tent camp

CAIRO: Israeli forces pressed their offensive in north and central Gaza on Wednesday, hours after an airstrike on a...

Updated 10 Jul, 2024 11:25pm

Pakistan extends stay of registered Afghan refugees by one year

The federal cabinet approved on Wednesday a one-year extension of the Proof Of Registration (POR) cards for 1.45...

Updated 10 Jul, 2024 09:56pm

Security forces kill three terrorists in Peshawar IBO: ISPR

Weapons and ammunition were also recovered during the operation, the military's media wing says

Published 10 Jul, 2024 09:48pm

Will personally oversee process of downsizing, rightsizing: PM Shehbaz

Says will not allow any delay on follow-ups from relevant ministries on meetings held and agreements reached during SCO summit

Updated 10 Jul, 2024 09:52pm

Every member of selection committee shares responsibility of decisions: Wahab

Former PCB selection committee member Wahab Riaz said on Wednesday that every member of the panel had an equal vote...

Published 10 Jul, 2024 09:46pm

Energy

Oil rises after U.S. posts crude, gasoline stock draw

HOUSTON: Oil prices roses on Wednesday after a jump in U.S. refining activity last week prompted a bigger draw than...

Updated 10 Jul, 2024 09:33pm

Stocks

British stocks finish higher on precious miners boost

London stocks closed higher on Wednesday thanks to a boost from precious metal miners, while hawkish comments by...

Published 10 Jul, 2024 09:19pm

Money & Banking

Bank holidays: SBP to remain closed on July 16-17

The central bank on Wednesday announced a two-day public holiday on July 16 and 17 on account of Ashura. “The State...

Published 10 Jul, 2024 08:48pm

Energy

Pakistan’s economic crisis is largely due to its power sector: experts propose bypassing govt

Pakistan, the world’s fifth most populous country, has a power sector problem and experts believe this is a core...

Published 10 Jul, 2024 08:23pm

Luxury

Lavish Indian wedding for the Ambani family to snarl Mumbai traffic

MUMBAI: When the son of Asia’s richest person Mukesh Ambani gets married in Mumbai this week, traffic in a key part...

Updated 10 Jul, 2024 08:40pm

Azerbaijan eyes multi-billion-dollar investment in Pakistan: Musadik Malik

Baku considering investment in mineral sector, including oil and gas, minister says

Published 10 Jul, 2024 08:15pm

Stocks

S&P 500, Nasdaq scale record highs as Nvidia leads megacap charge

The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported...

Published 10 Jul, 2024 08:09pm

USA

CNN to cut 100 jobs in major overhaul to focus on digital, memo shows

News outlet CNN will cut about 100 jobs as part of a plan to consolidate news operations and bolster its digital...

Published 10 Jul, 2024 07:58pm

The world is watching Pakistan’s rebranded counterterrorism campaign

Pakistan’s announcement of a new military operation ‘Azm-e-Istehkam’ is an effort to build a narrative of an...

Published 10 Jul, 2024 07:13pm

MENA

Israeli military says it strikes Syrian army targets on Golan Heights

JERUSALEM: Israeli tanks and artillery on Wednesday struck Syrian army targets that had violated the 1974...

Published 10 Jul, 2024 07:05pm

Stocks

Gulf markets subdued on oil, ahead of earnings

Stock markets in the Gulf ended subdued on Wednesday in the run up to quarterly earning season as oil prices...

Published 10 Jul, 2024 06:59pm

Manchester United post £71.4mn loss in latest financial results

LONDON: Manchester United recorded a net loss of £71.4 million ($91.4 million) between January and March this year,...

Published 10 Jul, 2024 06:53pm

Europe

Ukraine creates new ‘legion’ to recruit men abroad to fight

KYIV: The Ukrainian military has launched a new initiative to entice fighting-age men living abroad to enlist, as...

Published 10 Jul, 2024 06:49pm

Middle East

Shell, Total, BP take stakes in UAE gas project

DUBAI: Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied natural gas...

Published 10 Jul, 2024 06:45pm

MENA

Pakistani Mango Festival: king of fruit becomes king of discussion at Dubai event

DUBAI: The king of fruits became the topic of discussion as people from across the world connected in just one...

Updated 10 Jul, 2024 06:31pm

South Asia

China says India has no right to develop contested border region

BEIJING: India has no right to carry out development in the area China calls South Tibet, China’s Foreign Ministry...

Published 10 Jul, 2024 06:09pm

Europe

Norway says it will donate six F-16 fighter jets to Ukraine

OSLO: Norway will donate six F-16 fighter jets to Ukraine, the Norwegian government said in a statement on Wednesday...

Published 10 Jul, 2024 05:57pm

Middle East

Syria’s national airline resumes Saudi flights after 12 years

RIYADH: Syria’s national airline resumed regular services to Saudi Arabia after a 12-year suspension on Wednesday as...

Published 10 Jul, 2024 05:48pm

Middle East

Israel defence minister says ‘60 percent’ of Hamas dead or wounded

JERUSALEM: Israel’s Defence Minister Yoav Gallant said Wednesday that 60 percent of Hamas fighters had been...

Published 10 Jul, 2024 05:07pm

Buckingham Palace opens room with famous balcony to visitors

LONDON: Visitors to Buckingham Palace in London this summer will get to stand behind the famous balcony that the...

Published 10 Jul, 2024 04:51pm

Stocks

Mahindra & Mahindra, banks hold up Indian shares’ record rally

BENGALURU: Indian shares declined on Wednesday, weighed by banks on worries of moderation in their earnings and by...

Published 10 Jul, 2024 04:50pm

Commodities

Copper slides to one-week low on China demand concerns, rising stocks

LONDON: Copper prices hit a one-week low on Wednesday, extending their fall to the third consecutive session, due to...

Published 10 Jul, 2024 04:47pm

Commodities

Palm extends losses on rising stocks, soyoil weakness

MUMBAI: Malaysian palm oil futures extended losses on Wednesday as inventories rose to a four-month high in June and...

Published 10 Jul, 2024 04:44pm

Tajir Dost Scheme: Registration process to begin in 42 cities: FBR

ISLAMABAD: In a major development to register 3.2 million shopkeepers/traders, the Federal Board of Revenue (FBR)...

Updated 10 Jul, 2024 03:39pm

Relief announced for protected power consumers: Country has navigated hard times, says PM

Announces Rs 50 billion package to provide relief of up to seven rupees per unit to around 25 million domestic power consumers

Updated 10 Jul, 2024 03:38pm

ECNEC approves ML-1 Phase I

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) met on Tuesday under the chairmanship of...

Updated 10 Jul, 2024 03:38pm

PPP and SIC force govt to defer SOEs bill

ISLAMABAD: The Pakistan Peoples Party (PPP) together with the opposition parties in the National Assembly, including...

Updated 10 Jul, 2024 03:38pm

Suki Kinari project will commence generation from Nov

ISLAMABAD: The country’s hydel generation will increase further with the 884 MW Suki Kinari Hydropower Project,...

Updated 10 Jul, 2024 03:38pm

Europe

Kremlin says there were no disagreements between Putin and Modi at Moscow meeting

MOSCOW: The Kremlin denied on Wednesday that there had been any disagreement between President Vladimir Putin and...

Published 10 Jul, 2024 03:27pm

Record scorer Olivier Giroud bows out anonymously as France exit Euro 2024

MUNICH: The international career of France’s top scorer Olivier Giroud ended quietly on Tuesday, after a late cameo...

Published 10 Jul, 2024 03:21pm

England win toss, put West Indies into bat at Lord’s

LONDON: England will field first in the opening Test against West Indies on Wednesday after captain Ben Stokes won...

Published 10 Jul, 2024 03:16pm

South Asia

Bangladesh suspends job quotas after student protests

DHAKA: Bangladesh’s top court on Wednesday temporarily suspended quotas for coveted government jobs after thousands...

Published 10 Jul, 2024 03:07pm

Forex

Russian rouble weakens against dollar as central bank says trade has stabilised

MOSCOW: The Russian rouble weakened against the dollar on Wednesday after the central bank said that currency trade,...

Published 10 Jul, 2024 02:49pm

Stocks

London stocks climb as investors take in corporate updates; Powell’s comments in focus

London stocks rebounded on Wednesday amid broad-based gains after a slew of corporate updates, while investors...

Published 10 Jul, 2024 02:48pm

Forex

South African rand gains on weaker dollar, focus on Fed rate path

JOHANNESBURG: The South African rand gained in early trade on Wednesday against a weaker dollar, as focus remains on...

Published 10 Jul, 2024 02:47pm

Stocks

Saudi Arabia raises $12.35bn from Aramco share sale after increasing offer

DUBAI: Saudi Arabia raised a total of $12.35 billion from selling more shares in Aramco, after increasing the...

Published 10 Jul, 2024 02:46pm

Commodities

India to sell wheat from state stocks to flour millers, biscuit makers

MUMBAI/NEW DELHI: India plans to sell wheat from its state reserves to bulk consumers such as flour millers and...

Published 10 Jul, 2024 02:45pm

USA

Joe Biden meets union leaders as Democrats’ calls to exit race continue

WASHINGTON: US President Joe Biden returns to the campaign trail on Wednesday, rallying the key constituency of...

Published 10 Jul, 2024 02:42pm

Mutual Funds

Euro zone bond yields dip ahead of Powell testimony

LONDON: Euro zone bond yields dipped on Wednesday on concerns after rising the previous day about monetary policy...

Published 10 Jul, 2024 02:40pm

Europe

Kremlin says it will respond if UK allows Ukraine to strike Russia with British weapons

MOSCOW: Kremlin spokesman Dmitry Peskov said on Wednesday that Russia would respond if Britain allowed Ukraine to...

Published 10 Jul, 2024 02:37pm

Stocks

Major Gulf markets mixed on falling oil, stronger US rate cut hopes

Major stock markets in the Gulf were mixed in early trade on Wednesday following a decline in oil prices, while...

Published 10 Jul, 2024 02:34pm

Forex

Kenyan shilling weakens due to increased FX demand, Moody’s downgrade

NAIROBI: Kenya’s shilling weakened on Wednesday, pressured by increased foreign-currency demand and a credit rating...

Published 10 Jul, 2024 02:33pm

Commodities

Jordan issues tender to buy 120,000 T of wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy 120,000 metric tons of milling wheat...

Published 10 Jul, 2024 02:32pm

Forex

Ugandan shilling stable as offshore investor FX inflows help

KAMPALA: The Ugandan shilling was stable on Wednesday, underpinned by dollar inflows from offshore investors and...

Published 10 Jul, 2024 02:30pm

Europe

Russian attack on Ukraine’s Odesa region kills two, damages port, Ukraine says

KYIV: Russia launched 20 drones and five missiles at Ukraine on Wednesday, killing two people in the Black Sea...

Updated 10 Jul, 2024 02:24pm

Bullion Rate

Gold price per tola increases Rs600 in Pakistan

After declining in the previous session, gold prices in Pakistan registered a marginal increase in line with an...

Published 10 Jul, 2024 01:15pm

Stocks

European stock markets rebound at open

LONDON: Europe’s main stock markets rebounded at the start of trading Wednesday after fresh records on Wall Street....

Published 10 Jul, 2024 12:26pm

‘They don’t care about us’

The IMF deal is very likely on the cards. The lender of last resort is stuck with Pakistan irrespective of the...

Updated 10 Jul, 2024 12:25pm

Colombia, Uruguay clash in Copa semi-final with records in sight

Uruguay and Colombia will be chasing their own slice of history when they meet in Wednesday’s Copa America...

Published 10 Jul, 2024 12:10pm

Europe

UK’s overflowing prisons present PM Starmer with early crisis

LONDON: The scale of the challenge facing Prime Minister Keir Starmer’s new government is writ large in Britain’s...

Published 10 Jul, 2024 12:08pm

Commodities

Chinese steel prices hit 3-month low on poor construction demand

Steel prices in China fell to a more than three-month low on Wednesday, hurt by poor demand due to a weak...

Published 10 Jul, 2024 12:04pm

Forex

New Zealand dollar falls, bonds rally as RBNZ flags possible easing

SYDNEY: The New Zealand dollar fell on Wednesday while bonds rallied as markets sharply ramped up bets for a rate...

Published 10 Jul, 2024 12:03pm

Commodities

Copper holds steady ahead of China inflation data, firm dollar weighs

BEIJING: London copper was flat on Wednesday ahead of China inflation data, with firmer US dollar and demand...

Published 10 Jul, 2024 12:02pm

South Asia

At least 18 killed as bus collides with milk tanker in India

LUCKNOW: At least 18 people were killed in north India after a bus collided with a milk tanker early on Wednesday,...

Published 10 Jul, 2024 12:01pm

Microsoft ditches OpenAI board observer seat amid regulatory scrutiny

BRUSSELS: Microsoft has ditched its board observer seat at OpenAI that has drawn regulatory scrutiny on both sides...

Published 10 Jul, 2024 11:58am

TSMC Q2 revenue handily beats market forecasts

TAIPEI: TSMC, the world’s largest contract chipmaker, reported on Wednesday second quarter revenue of T$673.51...

Published 10 Jul, 2024 11:57am

BNP Paribas, Mistral AI ink partnership deal

BNP Paribas has entered into a comprehensive partnership agreement with Mistral AI covering all of its current and...

Published 10 Jul, 2024 11:55am

Commodities

Malaysia’s palm oil stocks hit 4-month high in June on weak exports

KUALA LUMPUR/MUMBAI: Malaysia’s palm oil stocks surged to a four-month high in June, driven by a steeper decline in...

Published 10 Jul, 2024 11:34am

England ready to grasp shot at ‘history’ in Euros semi-final against the Dutch

DORTMUND: England manager Gareth Southgate said the Three Lions are sensing their shot at history in Wednesday’s...

Published 10 Jul, 2024 11:29am

James Anderson Test wickets timeline

LONDON: England great James Anderson will play his 188th and last Test before retirement against the West Indies at...

Published 10 Jul, 2024 11:21am

Europe

Mourning in Kyiv as rescuers clear rubble from children’s hospital

KYIV: Rescue workers cleared debris as Ukraine observed a day of mourning Tuesday, after Russian strikes shattered a...

Published 10 Jul, 2024 11:14am

China consumer prices rise slightly in June

BEIJING: China consumer prices edged up in June, official data showed Wednesday, but fell short of analyst...

Published 10 Jul, 2024 11:10am

Europe

Fuming EU partners to show Hungary PM ‘yellow card’

BRUSSELS: Hungary is raising the hackles of its EU partners with a go-it-alone diplomatic initiative on Ukraine by...

Published 10 Jul, 2024 11:05am

Lionel Messi says he is enjoying ‘last battles’ for Argentina

EAST RUTHERFORD: Lionel Messi said he was enjoying his “last battles” with Argentina after the 37-year-old found the...

Published 10 Jul, 2024 11:01am

Jesse Marsch wants broader player pool after Copa test

EAST RUTHERFORD: Canada coach Jesse Marsch saw his team’s Copa America dream end with a 2-0 loss to world champions...

Published 10 Jul, 2024 10:56am

Asia

Four dead in record torrential rains in South Korea

SEOUL: Parts of South Korea were battered by record rainfall typically seen just once every 200 years, the country’s...

Published 10 Jul, 2024 10:50am

USA

NATO leaders seek to bolster Ukraine as gloom grows

WASHINGTON: NATO leaders meet Wednesday for their 75th anniversary, seeking ways to ramp up support for Ukraine as...

Published 10 Jul, 2024 10:47am

Asia

Eight missing after boat sinks in Myanmar commercial hub

YANGON: Eight people were missing after a boat sunk on a river in Myanmar’s commercial hub Yangon, the local fire...

Published 10 Jul, 2024 10:38am

Mutual Funds

India bond yields flat; investors eye inflation prints for cues

MUMBAI: Indian government bond yields did not react much to US Treasuries reversing some of their recent gains on...

Published 10 Jul, 2024 10:25am

Property deals, salaries, car purchase: FBR notifies change in WHT provisions

New category of late filers has been introduced for persons who are appearing on ATL but have not filed return by the extended due date

Updated 10 Jul, 2024 10:24am

Forex

Indian rupee flat, sticks to narrow band tracking sideways moves in Asia FX

MUMBAI: The Indian rupee was nearly unchanged on Wednesday tracking rangebound moves in its Asian peers, after...

Published 10 Jul, 2024 10:21am

Stocks

Asia shares rise; kiwi slumps after RBNZ’s less hawkish tone

SINGAPORE: Asian stocks hovered near two-year highs on Wednesday on growing bets of imminent US rate cuts, while the...

Published 10 Jul, 2024 10:09am

Stocks

Japan’s Nikkei flips to gains as financials rise, investors buy on dip

TOKYO: Japan’s Nikkei share average rose in a choppy morning session on Wednesday as financial shares outperformed...

Published 10 Jul, 2024 10:07am

Commodities

Commodity stocks drag Australian shares down; RBNZ decision eyed

Australian shares fell on Wednesday, dragged by heavyweight miners and energy stocks amid a drop in commodity...

Published 10 Jul, 2024 10:04am

Commodities

Chicago corn, soybeans, wheat open lower amid expectation of ample supply

JAKARTA: Chicago corn, soybean and wheat futures opened lower on Wednesday amid expectation of higher U.S output of...

Published 10 Jul, 2024 10:03am

Stocks

Indian shares ease off record highs; Maruti extends gains

BENGALURU: Indian shares hit all-time highs at the open on Wednesday as car maker Maruti Suzuki continued to rally,...

Published 10 Jul, 2024 09:59am

Forex

Dollar firm on Powell caution, kiwi bides time before rates decision

TOKYO: The dollar was on the front foot on Wednesday having rebounded from a three-week low after Federal Reserve...

Published 10 Jul, 2024 09:57am

Bullion Rate

Gold prices steady with spotlight on US inflation print

Gold prices held steady on Wednesday, with investors looking towards key US inflation data that could shed more...

Published 10 Jul, 2024 09:55am

Forex

China’s yuan slumps to near 8-month low after soft inflation

SHANGHAI: China’s yuan slid to nearly eight-month lows against the US dollar on Wednesday, after data showed the...

Published 10 Jul, 2024 09:48am

PAAPAM demands RD on all old, used vehicles

ISLAMABAD: Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), led by Chairman Abdul...

Updated 10 Jul, 2024 09:32am

Cement prices soar

After months of staying in the Rs1200 range, in just the past two weeks, cement prices quietly jumped a few steps...

Published 10 Jul, 2024 09:03am

Tariq Glass Industries Limited

Tariq Glass Industries Limited (PSX: TGL) was incorporated in Pakistan as a private limited company in 1978 and was...

Published 10 Jul, 2024 08:59am

Hydropower project: Riali-II to be processed on ‘must run & take-and-pay’ basis

ISLAMABAD: The government has decided to process the 7.08 MW Riali-II hydropower project as must run on a...

Updated 10 Jul, 2024 08:41am

BR’s refresher: your morning briefing for the day

Important updates July 9, 2024

Published 10 Jul, 2024 08:33am

Sindh E&T dept surpasses Rs13bn target: Sharjeel

KARACHI: Sindh Senior Minister and Provincial Minister for Information, Excise, Taxation, and Narcotics Control,...

Updated 10 Jul, 2024 08:31am

National security: Govt authorises ISI to intercept calls, messages

ISLAMABAD: The federal government has authorised the country’s top spy agency –the Inter-Services Intelligence (ISI)...

Updated 10 Jul, 2024 08:31am

Granting blanket powers to intelligence agency deplorable: PTI

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) vehemently condemned the federal cabinet’s notification to give blanket...

Updated 10 Jul, 2024 08:29am

Stunted growth: the economic stalemate of Pakistan’s business landscape

As nations across the globe, particularly within the developing world, experience rapid economic advancements and...