News Archives for Latest - 2024-07-22

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Archive - 2024-07-22

Illegal, political mafia looking to sabotage Azm-e-Istehkam, DG ISPR says

Director General Inter-Services Public Relations (DG ISPR) Lieutenant General Ahmed Sharif said “serious issues are...

Updated 22 Jul, 2024 11:55pm

South Asia

Bangladesh student group suspends protests over death toll

DHAKA: The Bangladeshi student group leading demonstrations that have spiralled into deadly violence suspended...

Updated 22 Jul, 2024 11:33pm

Israel sends tanks back into Khan Younis area, 49 killed after new evacuation order

JERUSALEM: Israel sent tanks back into the greater Khan Younis area and at least 49 Palestinians were killed by...

Published 22 Jul, 2024 11:31pm

Blinken to shore up US relationships in Asia amid political uncertainty at home

WASHINGTON: Secretary of State Antony Blinken will head to Asia this week to reassure allies and partners of U.S....

Published 22 Jul, 2024 11:14pm

Middle East

Israel issues evacuation orders in southern Gaza, kills 16 Palestinians

CAIRO/OCCUPIED JERUSALEM: Israeli strikes killed at least 16 Palestinians in eastern areas of Khan Younis, Gaza...

Updated 22 Jul, 2024 11:08pm

Interest Rates

Majority expect reduction in key policy rate in upcoming MPC meeting, AHL survey finds

Brokerage house sees 100bps cut in meeting reportedly set to be held on July 29 (Monday)

Updated 22 Jul, 2024 10:56pm

Business & Economy

Aurangzeb apprises Fitch representatives about IMF deal, reform measures for stable growth

Finance Minister informs ratings agency officials that Pakistan aims to increase revenues by 1.5% of GDP in FY 2025 and by 3% over the next three years

Updated 22 Jul, 2024 10:51pm

Europe

Brazil’s Lula hopes US elections will be ‘as civilized as possible’

BRASÍLIA: Brazil’s President Luiz Inacio Lula da Silva said Monday he hoped that November elections in the United...

Published 22 Jul, 2024 10:38pm

Europe

France’s Macron praises Biden’s ‘courage’ and ‘sense of duty’

PARIS: French President Emmanuel Macron on Monday praised US counterpart Joe Biden’s “courage” and “sense of duty”,...

Published 22 Jul, 2024 10:32pm

Forex

Rupee loses some ground against US dollar

Currency settles at 278.3 against the greenback in the inter-bank market

Updated 22 Jul, 2024 10:26pm

PTI says Raoof Hasan, Barrister Gohar ‘arrested’

Islamabad Capital Police on Monday has arrested Pakistan Tehreek-e-Insaf (PTI) Chairman Barrister Gohar Khan and...

Updated 22 Jul, 2024 10:25pm

Accountability court extends Imran, Bushra Bibi’s remand by 7 days in new Toshakhana case

An accountability court on Monday extended Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan and his spouse Bushra...

Updated 22 Jul, 2024 10:21pm

Energy

Oil drops as investors look past Biden exit, focus on weak fundamentals

NEW YORK: Oil prices fell for a second consecutive session on Monday to hit their lowest in over a month, as...

Updated 22 Jul, 2024 09:30pm

Commodities

Gold price per tola increases Rs1,000 in Pakistan

After registering a drop for two consecutive sessions, gold prices in Pakistan registered gains on Monday in line...

Updated 22 Jul, 2024 09:08pm

Stocks

‘Overdue correction’: KSE-100 plummets below 79,000 after nearly 1,600-point loss

Market continues where it left off on Friday with bears dominating trading session

Updated 22 Jul, 2024 09:07pm

Energy

Power generation in Pakistan down, cost also decreases over 10% YoY in June

Power generation in Pakistan clocked in at 13,460 GWh (18,090 MW) in June 2024, a decrease of 1.9% YoY as compared...

Updated 22 Jul, 2024 08:06pm

Energy

US natgas prices jump 4% on rising exports from Freeport LNG in Texas

US natural gas futures jumped about 4% to a one-week high on Monday with an increase in the amount of gas flowing to...

Published 22 Jul, 2024 08:01pm

Commodities

Russian wheat export prices were flat last week, shipments remain low

MOSCOW: Russian wheat export prices were unchanged last week, shipment volumes are still low and farmers are not in...

Published 22 Jul, 2024 07:57pm

English cricket open to IPL investment in Hundred

NOTTINGHAM: English cricket chiefs confirmed on Monday they have held talks with Indian Premier League (IPL) owners...

Published 22 Jul, 2024 07:26pm

Stocks

US stocks open higher on tech bounceback

NEW YORK: Wall Street stocks opened higher early Monday as tech shares bounced back after a recent pullback, as...

Published 22 Jul, 2024 07:08pm

Middle East

UAE hopes to reactivate trade talks with EU this year

DUBAI: The United Arab Emirates hopes to reactivate trade talks with the European Union by the end of the year, the...

Published 22 Jul, 2024 07:06pm

Asia

Blinken, Austin to meet Japanese counterparts for defence talks

TOKYO: US Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin will meet their Japanese...

Published 22 Jul, 2024 06:45pm

Middle East

Netanyahu heads for Washington as Israel orders new Gaza evacuations

GAZA STRIP: Israeli Prime Minister Benjamin Netanyahu departed for Washington on Monday to deliver a key speech, as...

Published 22 Jul, 2024 06:02pm

Stocks

Stocks diverge, dollar down as Biden exits White House race

LONDON: Stock markets diverged and the dollar dropped Monday as Joe Biden’s decision to drop out of the US...

Updated 22 Jul, 2024 05:31pm

ICC puts USA Cricket on notice for ‘non-compliance’

COLOMBO: The International Cricket Council put USA Cricket on notice Monday to comply with the world body’s...

Published 22 Jul, 2024 05:29pm

Asia

Ukraine’s top diplomat to visit China this week to talk peace, Kyiv says

KYIV/BEIJING: Ukraine’s top diplomat will visit China on Tuesday at the invitation of Beijing for talks that Kyiv...

Published 22 Jul, 2024 05:15pm

Commodities

Aluminium slips to almost four-month low on demand concerns

LONDON: Aluminium prices fell to their lowest in almost four months as some bullish positions were scrapped amid...

Published 22 Jul, 2024 05:05pm

MENA

UAE jails 57 Bangladeshis for protests: state media

DUBAI: The United Arab Emirates has handed lengthy prison sentences to 57 Bangladeshi expatriates for protesting...

Updated 22 Jul, 2024 04:54pm

Alexander Zverev injury not healed, but confident for Paris title defence

Reigning Olympic champion Alexander Zverev is hopeful the knee injury he suffered at Wimbledon will not impact his...

Published 22 Jul, 2024 04:29pm

Travel

Iconic sites hosting Paris Olympics events

PARIS: The Paris Olympics have been designed to showcase the City of Light in all its splendour, with events taking...

Published 22 Jul, 2024 04:14pm

Stocks

FTSE 100 rebounds amid broader gains; Rentokil surges

London stocks rebounded on Monday amid broader gains as investors digested corporate updates and assessed the...

Published 22 Jul, 2024 03:47pm

Stocks

Major Gulf markets gain on earnings, US rate-cut hopes; Dubai eases

Most major stock markets in the Gulf rose in early trade on Monday, helped by positive earnings, while investors...

Published 22 Jul, 2024 03:43pm

Europe

Five reported killed in Croatian nursing home

BELGRADE: Five people were killed by a gunman in a Croatian nursing home in the city of Daruvar, east of Zagreb,...

Published 22 Jul, 2024 03:11pm

Sri Lanka inflation rises to 2.4% on year in June

COLOMBO: Sri Lanka’s consumer price inflation rose to 2.4% year-on-year in June from 1.6% in May, official data...

Published 22 Jul, 2024 03:05pm

Travel

In Mallorca, 20,000 rally against overtourism

PALMA, Spain: Some 20,000 protesters hit the streets of Palma in Mallorca Sunday for a mass demonstration against...

Published 22 Jul, 2024 02:12pm

Paris restaurants struggle in Olympic security zones

PARIS: Cafes along the banks of the Seine in Paris normally buzz with activity in the summer, but restrictions ahead...

Published 22 Jul, 2024 02:04pm

Rhasidat Adeleke the face of modern Ireland eyes Olympic glory

PARIS: Rhasidat Adeleke hopes to become the first Irish female to win an Olympic athletics gold in Paris, an...

Published 22 Jul, 2024 01:00pm

Dunlap, 20, makes history with PGA Tour Barracuda Championship win

LOS ANGELES: Nick Dunlap made history as the first player to win tournaments as a professional and an amateur in the...

Published 22 Jul, 2024 12:56pm

Hardik Pandya fitness issues cost him India T20 captaincy: selector

MUMBAI: Hardik Pandya lost out on India’s T20 captaincy to Suryakumar Yadav because of concerns over his...

Published 22 Jul, 2024 12:39pm

Europe

On Biden, the Kremlin says the Ukraine war is more important

MOSCOW: After US President Joe Biden abandoned his reelection bid, the Kremlin said that for Russia the most...

Published 22 Jul, 2024 12:25pm

Commodities

Wheat rises as supply concerns trigger short covering

CANBERRA: Chicago wheat futures rose on Monday as concerns over production in the United States and France triggered...

Published 22 Jul, 2024 12:23pm

Commodities

Copper drops to more-than-three-month low on demand concerns

Copper prices fell to their lowest in more than three months on Monday, hurt by demand worries amid a lack of fresh...

Published 22 Jul, 2024 12:22pm

Vodafone sells further 10% stake in Vantage Towers for 1.3bn euros

LONDON: Britain’s Vodafone said it sold a further 10% stake in Vantage Towers for 1.3 billion euros ($1.4 billion),...

Published 22 Jul, 2024 12:20pm

Lifeline power consumers: Govt working on a new subsidy

BISP in consultation with Power Division determining eligibility criteria for identifying potential consumers for electricity subsidy programme, sources say

Updated 22 Jul, 2024 12:10pm

Industry

Regulatory environment major issue as foreign pharma cos exit Pakistan

KARACHI: The pharmaceutical sector in Pakistan is facing significant challenges, with only four foreign companies...

Updated 22 Jul, 2024 12:09pm

South Asia

Bangladesh calm a day after top court scrapped some job quotas

DHAKA: Bangladesh appeared calm on Monday amid a curfew, but widespread disruption of telecoms prevailed a day after...

Published 22 Jul, 2024 12:08pm

New India coach Gambhir backs Kohli, Rohit to play 2027 World Cup

India’s new head coach Gautam Gambhir believes veteran batsmen Virat Kohli and Rohit Sharma can both continue...

Published 22 Jul, 2024 12:03pm

Middle East

Israeli Defence Minister thanks Biden for 'unwavering support' for Israel

Israel Defence Minister Yoav Gallant late on Sunday thanked US President Joe Biden for his "unwavering support" for...

Published 22 Jul, 2024 11:40am

Mutual Funds

JGB yields mixed on BOJ policy, US presidential election uncertainty

TOKYO: Japanese government bond (JGB) yields struggled for direction on Monday, as the market sized up Joe Biden’s...

Published 22 Jul, 2024 11:37am

Ryanair quarterly profit misses estimates, warns of weaker summer fares

DUBLIN: Ryanair on Monday reported a 46% fall in after-tax profit for its April-June quarter from the prior year,...

Published 22 Jul, 2024 11:34am

China surprises with cuts to key rates to support fragile economy

SHANGHAI: China surprised markets by lowering a key short-term policy rate and its benchmark lending rates on...

Published 22 Jul, 2024 11:32am

Nvidia preparing version of new flagship AI chip for Chinese market, sources say

SINGAPORE: Nvidia is working on a version of its new flagship AI chips for the China market that would be compatible...

Published 22 Jul, 2024 11:29am

Japan’s budget request to exceed $698bn for fourth straight year, draft shows

TOKYO: Japanese ministries’ budget demand for the next fiscal year is likely to exceed 110 trillion yen ($698...

Published 22 Jul, 2024 11:27am

Commodities

Indonesia tenders to buy 320,000 metric tons rice, traders say

HAMBURG: Indonesian state purchasing agency Bulog has issued an international tender to buy about 320,000 metric...

Published 22 Jul, 2024 11:10am

Forex

Indian rupee holds just above all-time low as state-run banks’ dollar sales support

MUMBAI: The Indian rupee was pinned near its record low on Monday, amid weakness in most Asian currencies, with...

Published 22 Jul, 2024 11:08am

USA

Backed by Biden, Kamala Harris moves to lock up White House bid

WASHINGTON: Vice President Kamala Harris wasted no time launching her 2024 presidential campaign, seeking the...

Published 22 Jul, 2024 11:06am

Commodities

Palm oil gains for fifth session on strong July exports

KUALA LUMPUR: Malaysian palm oil futures rose on Monday, extending gains to a fifth session on the back of cargo...

Published 22 Jul, 2024 11:00am

Europe

Russia says downs 75 Ukraine-launched drones, some near Tuapse oil refinery

Russia’s air defence systems destroyed 75 drones launched by Ukraine overnight, including eight near the town of...

Updated 22 Jul, 2024 10:50am

MENA

From textile to real estate: Saleem Karsaz’s path to success in Dubai

DUBAI: Dubai’s allure has long been a magnet for entrepreneurs and investors worldwide, and for Pakistani-born...

Updated 22 Jul, 2024 10:21am

USA

Hunter Biden drops lawsuit against Fox News over ‘mock trial’ miniseries

Hunter Biden has dropped a lawsuit against Fox News for publishing nude photos and videos of him in a fictionalized...

Published 22 Jul, 2024 10:14am

Stocks

Australian shares fall for third session as miners and energy stocks drag

Australian shares fell for a third straight session on Monday, with mining and energy stocks leading the decline,...

Published 22 Jul, 2024 10:10am

Bullion Rate

Gold edges higher on softer dollar, Fed rate-cut bets

Gold prices edged higher on Monday, aided by a softer dollar and expectations of a US interest rate cut, while...

Published 22 Jul, 2024 10:08am

Stocks

Reliance, Wipro weigh on Indian shares amid volatility spike ahead of budget

BENGALURU: Indian shares dropped on Monday, weighed down by Reliance Industries and Wipro after both companies...

Published 22 Jul, 2024 10:07am

Mutual Funds

India benchmark yield moves towards key level before budget

MUMBAI: Indian government bond yields trended marginally higher in early trades at the start of the week in which...

Published 22 Jul, 2024 10:05am

Forex

Australia, NZ dollars extend losses as risk sours and China cuts rates

SYDNEY: The Australian and New Zealand dollars extended losses on Monday as Asian stocks slid amid uncertainties in...

Published 22 Jul, 2024 10:03am

Stocks

Japan’s Nikkei extends falls as chip-related stocks tumble

TOKYO: Japan’s Nikkei share average fell more than 1% on Monday, extending its decline to a fourth session, as...

Published 22 Jul, 2024 10:01am

Stocks

Asia stocks wary; Wall St unfazed as Biden bows out

SYDNEY: Asian shares tread cautiously on Monday ahead of a packed week of corporate earnings that should test the...

Published 22 Jul, 2024 10:00am

Forex

Dollar eases as Biden ends re-election bid; yuan steady after rate cut

TOKYO: The dollar eased on Monday in the initial reaction to US President Joe Biden’s decision to end his...

Published 22 Jul, 2024 09:59am

PM explains his govt’s approach to healthcare

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Sunday said the government was determined to provide state of...

Updated 22 Jul, 2024 09:25am

APCCA appreciates decision of Ministry of Maritime Affairs, KPT

KARACHI: Maqbool Ahmad Malik, Chairman of All Pakistan Custom Agents Association (APCAA) and Sheikh Tariq, Vice...

Updated 22 Jul, 2024 09:25am

KP to shift 100 schools, 3050 mosques on solar energy

PESHAWAR: Khyber Pakhtunkhwa government has begun work on several solar energy projects to solve the problem of...

Updated 22 Jul, 2024 09:24am

KE wants evaluation of proposal to convert Jamshoro plant to Thar coal

ISLAMABAD: K-Electric (KE) has asked the Power Division to constitute Project Steering Committee (PSC) to scrutinise...

Updated 22 Jul, 2024 09:06am

KP to earn receipts of Rs90bn from oil and gas sectors

PESHAWAR: The provincial government of Khyber Pakhtunkhwa will earn revenue amounting to Rs.89.8 billion in the...

Updated 22 Jul, 2024 09:05am

BR’s refresher: your morning briefing for the day

Important updates from July 21, 2024

Published 22 Jul, 2024 09:03am

LHC suspends operation of SRO 350 (I)/2024

ISLAMABAD: Lahore High Court (LHC) has suspended operation of SRO 350(I)/2024 and directed the Federal Board of...

Updated 22 Jul, 2024 08:29am

Stability on cotton market as business activity picks up

KARACHI: The cotton market remained stable, with a notable increase in business activity. Favourable rainfall has...

Updated 22 Jul, 2024 08:27am

Current account FY24: historic but in a good way?

The current account posted the lowest deficit in thirteen years in FY24. The toll could have been a surplus if the...

Published 22 Jul, 2024 08:27am

Pakistan’s textile in a brave new world

Exchange rate, energy prices, or pricing in the global market – something will have to give, and fast. Despite fears...

Published 22 Jul, 2024 08:23am

Hinopak Motors Limited

Hinopak Motors Limited (PSX: HINO) was incorporated as a public limited company in Pakistan in 1986. The company is...

Published 22 Jul, 2024 08:20am

FPCCI demands reviewing agreements with IPPs

ISLAMABAD: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh has said...

Updated 22 Jul, 2024 07:57am

FY24 cell phone imports soar 233pc to $1.89bn YoY

ISLAMABAD: The country imported mobile phones worth $1.898 billion during the fiscal year 2023-24, registering...

Updated 22 Jul, 2024 07:53am

‘Constitutional meltdown’?

EDITORIAL: It’s not yet been announced when the IMF’s executive board will meet to discuss the fate of the...

Updated 22 Jul, 2024 07:35am

From wheat crisis to food crisis: a reality check

The wheat market in Pakistan has been a subject of intense debate and scrutiny, particularly due to the significant...

Updated 22 Jul, 2024 07:23am

Smoke and mirrors

Pakistan’s energy sector is in a peculiar mess. On paper, the electricity supply is sufficient at a lower energy...

Updated 22 Jul, 2024 07:17am

The way forward

Sale of state-owned entities (SOEs) and not resuscitating the non-operational Pakistan Steel Mills is the mantra of...

Updated 22 Jul, 2024 07:11am

A case for an independent constitutional court

EDITORIAL: The legal maxim ‘justice delayed is justice denied’, unfortunately, is just so in our judicial system...

Updated 22 Jul, 2024 07:06am

The Weather

KARACHI: The weather report on Sunday (July 21, 2024) and the forecast for Monday (July 22, 2024)....