News Archives for Latest - 2024-07-16

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Archive - 2024-07-16

Lebanon media says 3 children among 5 dead in Israeli strikes

BEIRUT: Lebanese official media said separate Israeli strikes Tuesday on south Lebanon killed five people including...

Published 16 Jul, 2024 11:12pm

Iran open to resuming nuclear accord talks: acting foreign minister

DUBAI: Tehran remains open to resuming negotiations with Washington on restoring their participation in a nuclear...

Published 16 Jul, 2024 10:30pm

USA

Trump appears with bandaged ear at Republican convention, names Vance as running mate

MILWAUKEE: Donald Trump made a triumphant entrance during the first night of the Republican National Convention on...

Updated 16 Jul, 2024 10:21pm

USA

US tells top Israeli officials Gaza civilian toll ‘unacceptably high’

WASHINGTON: US Secretary of State Antony Blinken told two top Israeli officials on Monday of the “unacceptably high”...

Updated 16 Jul, 2024 10:21pm

Bannu Cantt attack undertaken by Hafiz Gul Bahadur group, which operates from Afghanistan: ISPR

Military's media wing says 8 soldiers martyred, 10 terrorists killed in attack on Monday morning

Updated 16 Jul, 2024 10:03pm

Energy

Oil prices edge down on worries about Chinese demand

HOUSTON: Oil prices declined on Tuesday on worries of a slowing Chinese economy crimping demand and despite a...

Updated 16 Jul, 2024 09:58pm

Matter of great concern, says US State Dept on govt decision to ban PTI

The US has said that Pakistan’s decision to ban former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI)...

Updated 16 Jul, 2024 09:57pm

Five civilians, two soldiers martyred as terrorists attack on health centre in DI Khan

Five civilians and two soldiers were martyred in a terrorist attack on a health centre in Dera Ismail Khan District,...

Updated 16 Jul, 2024 09:56pm

Business & Economy

New IMF programme to improve Pakistan’s funding prospects: Moody’s

Credit rating agency, however, warns govt’s ability to sustain reform implementation will be key to continually unlock financing over three-year duration

Updated 16 Jul, 2024 09:38pm

Stocks

Dow rally drives Wall St higher as rate-cut hopes stay strong

The Dow led Wall Street’s main indexes higher on Tuesday, boosted by UnitedHealth’s strong results and as...

Published 16 Jul, 2024 09:20pm

Stocks

European autos, clean energy feel the pinch of Trump 2.0 bets

MILAN/LONDON: A sell-off in the shares of some European carmakers and renewable energy firms entered a second day on...

Published 16 Jul, 2024 09:15pm

Middle East

FO says 4 Pakistanis killed, 30 injured in gunfire near mosque in Oman

The foreign office (FO) on Tuesday said four Pakistanis were killed and thirty wounded by gunfire near a mosque in...

Updated 16 Jul, 2024 08:51pm

IMF sees steady global growth, warns of slowing disinflation momentum

WASHINGTON: The global economy is set for modest growth over the next two years amid cooling activity in the U.S., a...

Updated 16 Jul, 2024 08:33pm

South Asia

Five killed in Bangladesh job quota protests

DHAKA: At least five demonstrators were killed in Bangladesh on Tuesday during violent clashes between rival student...

Updated 16 Jul, 2024 07:22pm

USA

No rush for US Fed to cut rates, IMF’s chief economist says

WASHINGTON: Cooling inflation data is allowing the Federal Reserve to begin a “very reasonable” shift toward easing...

Published 16 Jul, 2024 07:04pm

South Asia

IMF cuts Japan’s growth forecast, upbeat on consumption prospects

TOKYO: The International Monetary Fund (IMF) on Tuesday cut Japan’s economic growth forecast for this year due,...

Published 16 Jul, 2024 06:59pm

Stocks

Sri Lankan shares inch lower as financial stocks drag

CSE All-Share index fell nearly 0.1% to 11,878.92

Published 16 Jul, 2024 06:37pm

Stocks

Gulf bourses end mixed on US rate cut hopes, falling oil

Stock markets in the Gulf ended mixed on Tuesday as comments from Federal Reserve Chair Jerome Powell boosted bets...

Published 16 Jul, 2024 06:20pm

Europe

Belgium refuse to host Israel match over security fears

BRUSSELS: Belgium will not host the Nations League match against Israel on September 6 over security fears, the...

Published 16 Jul, 2024 05:43pm

Middle East

Israeli strikes across Gaza kill at least 30, Palestinian health officials say

CAIRO/GAZA: Israeli forces battled Hamas fighters in several parts of the Gaza Strip on Tuesday, and Palestinian...

Published 16 Jul, 2024 05:29pm

Middle East

Crew of capsized oil tanker off Oman still missing

DUBAI: The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s...

Published 16 Jul, 2024 05:15pm

Money & Banking

Morgan Stanley’s profit jumps as investment banking recovers

Morgan Stanley’s profit rose in the second quarter as investment banking activity rebounded. Its net income rose to...

Published 16 Jul, 2024 05:02pm

Stocks

IT leads Indian blue-chips to record closing highs

BENGALURU: India’s benchmark indexes notched record closing highs on Tuesday, buoyed by gains in heavyweight...

Published 16 Jul, 2024 04:56pm

Commodities

Aluminium hits three-month low on heavy supply, copper slips

LONDON: Aluminium prices dropped to the lowest in over three months on Tuesday on worries about oversupply, while...

Published 16 Jul, 2024 04:53pm

Commodities

Palm oil snaps two-day losing streak on rivals’ strength, higher export estimates

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday to snap a two-day decline, buoyed by stronger rival Dalian...

Published 16 Jul, 2024 04:51pm

5G spectrum auction: 11 entities submit EOIs for consultancy

ISLAMABAD: As many as eleven international consultants/ JVs/ firms have submitted expressions of interest (EOIs) for...

Updated 16 Jul, 2024 04:00pm

Middle East

Most Gulf markets gain on US rate cut optimism

Major stock markets in the Gulf rose in early trade on Tuesday as comments from Federal Reserve Chair Jerome Powell...

Published 16 Jul, 2024 03:31pm

Forex

South African rand claws back losses as markets bet on US rate cuts soon

JOHANNESBURG: The South African rand clawed back some losses on Tuesday, after tumbling on Monday, on rising...

Published 16 Jul, 2024 03:29pm

Cement dealers go on countrywide strike against taxes

ISLAMABAD: Cement dealers in Pakistan begin their countrywide strike for an indefinite period against higher...

Updated 16 Jul, 2024 01:49pm

Move to achieve $60bn export target: Talks begin on import tariff rationalisation

Commerce Minister Jam Kamal emphasises need for comprehensive consultation with experts from both private and public sectors

Updated 16 Jul, 2024 01:45pm

Tens of thousands to welcome Mbappe to Real Madrid

MADRID: Still celebrating Spain’s Euro 2024 triumph, Real Madrid fans will have even more to cheer Tuesday as French...

Published 16 Jul, 2024 01:31pm

Europe

Far right to seek greater influence in EU parliament

STRASBOURG: EU leaders’ fate will be in lawmakers’ hands from Tuesday onwards as the European Parliament convenes...

Published 16 Jul, 2024 01:27pm

FPCCI urges govt to review agreements with IPPs

KARACHI: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has urged the federal government to...

Updated 16 Jul, 2024 01:03pm

Cartier-owner Richemont says China sales tumble 27%

ZURICH: Cartier-owner Richemont said Tuesday its quarterly sales in China tumbled by 27 percent as the deepening...

Published 16 Jul, 2024 12:56pm

Stocks

European stock markets retreat at open

LONDON: Europe’s main stock markets slid at the start of trading on Tuesday following a mixed showing by Asia and...

Published 16 Jul, 2024 12:49pm

Stocks

Asian shares fall as China drags, dollar in demand

SYDNEY: Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean...

Published 16 Jul, 2024 12:29pm

Commodities

Palm oil rises on firmer rivals, higher Malaysian export estimates

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, as stronger rival Dalian and Chicago contracts and higher...

Published 16 Jul, 2024 11:58am

Commodities

Soybeans rise from four-year low on bargain-buying, wheat firms

SINGAPORE: Chicago soybeans inched higher on Tuesday, with bargain-buying supporting the market, which dropped to...

Published 16 Jul, 2024 11:54am

Reserved seats verdict: PML-N files review petition in SC

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) filed a petition asking the Supreme Court to review its order dated...

Updated 16 Jul, 2024 11:33am

Commodities

Copper eases on rising inventory, weak China data

Copper prices fell on Tuesday, weighed down by weak economic data from top consumer China and rising inventories in...

Published 16 Jul, 2024 11:28am

Forex

China’s yuan slips on economic weakness despite tight offshore funding

SHANGHAI: The yuan eased against the US dollar on Tuesday as a slew of weak Chinese economic data dampened...

Published 16 Jul, 2024 11:13am

Stocks

China stocks steady amid focus on Third Plenum; HK shares fall

SHANGHAI: China stocks held steady on Tuesday, as investors awaited the details of reform measures announced at the...

Published 16 Jul, 2024 10:53am

Europe

Ukraine drone attack sparks fire at factory in Kursk region, Russian official says

A Ukraine drone attack sparked a fire at a factory producing electrical devices and components in the town of...

Published 16 Jul, 2024 10:48am

Mutual Funds

Philippines raises $513mn from T-bonds auction

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of reissued 2034 T-bonds...

Published 16 Jul, 2024 10:34am

Jubilant Spaniards greet Euro 2024 winners, team praised for fostering unity

MADRID: Waving flags and dressed in Spain’s red and yellow colours, tens of thousands of people jubilantly greeted...

Published 16 Jul, 2024 10:25am

Asia

North Korea warns of ‘devastating consequences’ over leaflets from South

SEOUL: North Korea said on Tuesday that South Korea will face “devastating consequences” over anti-Pyongyang...

Published 16 Jul, 2024 10:17am

Forex

Dollar drifts as Powell comments bring September rate cut in focus

SINGAPORE: The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell...

Published 16 Jul, 2024 09:55am

Rafa Nadal warms up for Olympics with doubles win in Bastad

Rafa Nadal warmed up for his bid for another Olympic medal at the Paris Games with a doubles win at the Swedish Open...

Published 16 Jul, 2024 09:52am

Forex

Indian rupee pressed by weak Asia, supported by intervention hopes

MUMBAI: The Indian rupee is expected to open largely unchanged on Tuesday despite a decline in Asian peers on...

Published 16 Jul, 2024 09:50am

Stocks

Australian shares muted as Rio Tinto’s over 2% drop offsets gains in banks

Australian shares drifted in a narrow range on Tuesday, as mining behemoth Rio Tinto led losses among bellwether...

Published 16 Jul, 2024 09:47am

Stocks

Japan’s Nikkei rises as market gauges US election outlook, yen strength

TOKYO: Japan’s Nikkei share average rose on Tuesday, tracking gains in Wall Street, as investors assessed whether an...

Published 16 Jul, 2024 09:45am

Mutual Funds

Indian bond yields steady; traders seek trigger for 10-year to breach key level

MUMBAI: Indian government bond yields were largely unchanged in early trading on Tuesday, with traders eyeing strong...

Published 16 Jul, 2024 09:40am

Bullion Rate

Gold drifts higher as US rate cut optimism boosts appeal

Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a...

Published 16 Jul, 2024 09:37am

Monitoring, recovery of WHT: FBR advised to give field teams access to softwares of banks

ISLAMABAD: The Federal Tax Ombudsman (FTO) has recommended the Federal Board of Revenue (FBR) to provide access of...

Updated 16 Jul, 2024 09:32am

PSP of Discos cited as reason: World Bank reluctant to finance ‘APMS’

ISLAMABAD: The World Bank is said to have shown its reluctance to finance Asset Performance Management System (APMS)...

Updated 16 Jul, 2024 09:30am

PTI reacts strongly to govt’s move

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) has lambasted the federal government for planning to have the political...

Updated 16 Jul, 2024 09:29am

Petrol price hiked by Rs9.99, HSD’s by Rs6.18

ISLAMABAD: Federal government on Monday made a massive increase in the price of petroleum products up to Rs 9.99 per...

Updated 16 Jul, 2024 09:26am

Significant discovery of hydrocarbons in Attock

KARACHI: Pakistan Oilfields Limited (POL) has announced that significant quantity of hydrocarbons has been...

Updated 16 Jul, 2024 09:25am

BR’s refresher: your morning briefing for the day

Important updates July 15, 2024

Published 16 Jul, 2024 09:05am

Govt has no mandate to impose ban on PTI: Khaqan

ISLAMABAD: Awaam Pakistan Party senior leader Shahid Khaqan Abbasi on Monday opposed the government’s decision to...

Updated 16 Jul, 2024 09:03am

Outlook for 2024-25

The last week’s article on outlook for 2024-25 by this writer in Business Recorder had focused on the projections...

Updated 16 Jul, 2024 07:52am

‘Fund speak’ for ‘Chinese debt trap’?

EDITORIAL: Former SBP (State Bank of Pakistan) governor Murtaza Syed’s warning that the fine print in the new IMF...

Updated 16 Jul, 2024 07:46am

Energy

Action ordered against illegal decanters: Ogra takes note of acts of mixing CO2 with LPG

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has taken serious note of the issue of mixing carbon dioxide...