News Archives for Latest - 2024-07-17

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Archive - 2024-07-17

Pakistan summons Taliban envoy after attack on military base

FO calls on Kabul to investigate fully the Bannu attack and take immediate, robust, and effective action against those responsible

Updated 17 Jul, 2024 11:17pm

Fault lies within: to fix the economy, look inward

There weren’t much high hopes when Finance Minister Mohammed Aurangzeb started delivering his budget speech on June...

Published 17 Jul, 2024 10:43pm

USA

Iran rejects accusations implicating it in plot to kill Trump

TEHRAN: Iran on Wednesday rejected what it called “malicious” accusations by US media implicating it in a plot to...

Updated 17 Jul, 2024 09:41pm

US urges Taliban to prevent use of Afghan soil for terrorist attacks

US State Department Spokesperson Matthew Miller says Pakistani people have suffered greatly at the hands of violent extremists and terrorists

Updated 17 Jul, 2024 09:08pm

Energy

Oil prices gain 1% on big US storage withdrawal, weaker US dollar

NEW YORK: Oil prices climbed about 1% on Wednesday on a bigger-than-expected weekly drop in U.S. crude stockpiles...

Updated 17 Jul, 2024 08:48pm

President, PM call for unity as nation observes Ashura amid strict security

Processions were held nationwide in observance of Youm-e-Ashura

Updated 17 Jul, 2024 08:20pm

Stocks

Nasdaq hits two-week low in megacap tech, chip stocks rout

The Nasdaq slumped nearly 2% to a two-week low on Wednesday, accompanied by losses on the S&P 500, as major chip...

Published 17 Jul, 2024 07:45pm

Stocks

Sri Lanka shares fall as communication services stocks drag

CSE All Share index was down 0.41% at 11,830.48

Published 17 Jul, 2024 06:34pm

Stocks

Most Gulf markets end higher on rising US rate-cut optimism

Most stock markets in the Gulf ended higher on Wednesday, as comments from U.S. Federal Reserve officials boosted...

Published 17 Jul, 2024 06:17pm

Europe

EU Parliament criticises Hungary’s Orban for meeting Putin

STRASBOURG: The European Parliament strongly criticised Hungarian Prime Minister Viktor Orban on Wednesday for...

Published 17 Jul, 2024 05:35pm

Commodities

Gold soars to record as US rate-cut bets burnish appeal

Gold prices jumped to an all-time peak on Wednesday, driven by mounting hopes of a U.S. interest rate cut in...

Updated 17 Jul, 2024 05:23pm

WEO update: IMF maintains growth rate projection at 3.5pc

Releases latest report ‘World Economic Outlook (WEO) update: The Global Economy in a Sticky Spot'

Updated 17 Jul, 2024 05:21pm

Middle East

Hezbollah to hit new areas in Israel if it keeps targeting civilians, Nasrallah says

BEIRUT: Hezbollah will hit new Israeli targets if Israel keeps targeting civilians in Lebanon, the group’s leader...

Published 17 Jul, 2024 05:12pm

Financial

World Bank eyes first ‘drought’ bond in next 12-18 months

LONDON: The World Bank is looking to issue its first drought bond in the next 12-18-months and broaden its offering...

Published 17 Jul, 2024 04:57pm

Commodities

Copper firms slightly as dollar slump counters China demand fears

LONDON: Copper prices edged higher on Wednesday as a slide in the dollar countered worries about weak demand in...

Published 17 Jul, 2024 04:51pm

Commodities

Palm oil extends gains on higher export estimates; firmer ringgit caps rise

KUALA LUMPUR: Malaysian palm oil futures rose for a second consecutive session on Wednesday, buoyed by higher export...

Published 17 Jul, 2024 04:49pm

From FY12 onward: Rs4.975trn subsidy given to power sector: MoF

ISLAMABAD: The Finance Ministry has stated that the government has provided Rs 4.975 trillion subsidy to the power...

Updated 17 Jul, 2024 04:36pm

Against closure, PSM board says Cabinet is ill-advised

ISLAMABAD: The Board of Directors (BoD) of Pakistan Steel Mills (PSM) has opposed the complete closure and scrapping...

Updated 17 Jul, 2024 04:36pm

Coal-fired power plant: ADB sets August 15 deadline for KE, JCPL and GHCL to ink PPA

ISLAMABAD: The Asian Development Bank (ADB) has given the deadline of August 15, 2024 for signing of Power Purchase...

Updated 17 Jul, 2024 04:33pm

SLA improves funding prospects, says Moody’s

ISLAMABAD: The Government of Pakistan and the International Monetary Fund’s staff level agreement (SLA) improves...

Updated 17 Jul, 2024 04:33pm

MoF unveils fund release strategy: No office can make direct payments through SBP

ISLAMABAD: The Ministry of Finance has banned direct payment through the State Bank of Pakistan (SBP) by any office,...

Updated 17 Jul, 2024 04:32pm

Stocks

FTSE 100 slides as hot inflation data dampens August rate-cut bets

London stocks inched lower on Wednesday, after stronger-than-expected domestic inflation data prompted investors to...

Published 17 Jul, 2024 03:20pm

Stocks

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

Major stock markets in the Gulf were mixed in early trade on Wednesday, as markets prepared for global interest...

Published 17 Jul, 2024 02:29pm

Stocks

European shares slide as tech stocks weigh

European shares fell for a third consecutive session on Wednesday, dragged down by Dutch semiconductor firm ASML...

Published 17 Jul, 2024 02:04pm

Europe

Ukraine’s heavily-shelled Kharkiv builds underground schools

KYIV: The city of Kharkiv in northeastern Ukraine, which has been shelled almost daily by Russian forces, will build...

Published 17 Jul, 2024 01:54pm

Forex

Dollar eases with Fed rate cuts back in view

SINGAPORE: The dollar was broadly weaker on Wednesday after a modest but short-lived boost following...

Published 17 Jul, 2024 11:39am

Commodities

Palm oil rises on higher Malaysian export estimates; firmer ringgit caps gains

KUALA LUMPUR: Malaysian palm oil futures rose on Wednesday, buoyed by higher export estimates from the world’s...

Published 17 Jul, 2024 11:36am

Nadal beats Swedish great Borg’s son Leo in singles return at Bastad

Former world number one Rafa Nadal marked his return to singles tennis with a 6-3 6-4 win over Leo Borg, the son of...

Published 17 Jul, 2024 11:17am

Stocks

Stocks, dollar swing as rate bets offset by Trump inflation talk

HONG KONG: Equities and the dollar were rangebound Wednesday while gold hit a fresh record as expectations for a US...

Published 17 Jul, 2024 10:27am

Commodities

Wheat firms on strong demand; soy, corn extend gains

SINGAPORE: Chicago wheat rose for the first time in four sessions on Wednesday, underpinned by strong global demand,...

Published 17 Jul, 2024 09:57am

Europe

Russia, Ukraine to exchange 90 prisoners of war on Wednesday: Bloomberg

Russia and Ukraine are set to exchange 90 prisoners of war on Wednesday in a deal facilitated by the United Arab...

Published 17 Jul, 2024 09:36am

Forex

China’s yuan steady as traders await news from plenum

SHANGHAI: China’s yuan was little changed against the US dollar on Wednesday as traders awaited policy news from a...

Published 17 Jul, 2024 09:33am

Ad hoc SC judges: Former Justices Tariq and Miankhel agree for their appointments

ISLAMABAD: Former Justice Tariq Masood and former Justice Mazhar Alam Khan Miankhel have agreed for their...

Updated 17 Jul, 2024 09:12am

Exporters reject amendments in SRO 350(I)/2024

LAHORE: The exporters community has rejected amendments made to the SRO 350(I)/2024 dated 07-03-2024, treating their...

Updated 17 Jul, 2024 08:50am

Ban on PTI: Coalition partners to be taken on board: Dar

LAHORE: Deputy Prime Minister Ishaq Dar said on Tuesday that inflation rate has declined during the last four months...

Updated 17 Jul, 2024 08:46am

WeBOC integrated with PSW

ISLAMABAD: Pakistan Customs electronic cargo clearance system (WeBOC) has been fully integrated with the Pakistan...

Updated 17 Jul, 2024 08:45am

US concerned at govt’s decision against PTI

WASHINGTON: The United States has expressed concern over the Pakistan government’s decision to seek a ban on the...

Updated 17 Jul, 2024 08:44am

BR’s refresher: your morning briefing for the day

Important updates July 16, 2024

Published 17 Jul, 2024 08:42am

Role modelling values

Children do not follow what you say but what you do. What you value you emulate. Behaviour is the key to values...