News Archives for Latest - 2024-07-23

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Archive - 2024-07-23

Europe

French left agrees on consensus candidate for prime minister

PARIS: Left-wing French parties said Tuesday they had chosen a little-known economist as prospective prime ...

Published 23 Jul, 2024 11:35pm

US announces Sudan ceasefire talks

WASHINGTON: The United States announced Tuesday that it has invited Sudan's warring sides to hold ceasefire talks...

Updated 23 Jul, 2024 11:28pm

Money & Banking

Monetary Policy Committee: SBP issues advance calendar for meetings in July-December 2024

After much delay, the State Bank of Pakistan (SBP) has issued the advance calendar of Monetary Policy Committee...

Updated 23 Jul, 2024 11:15pm

South Asia

India gives income tax relief to some to stimulate spending

MUMBAI: India on Tuesday cut income tax rates for some citizens in an effort to boost consumption as Asia's...

Published 23 Jul, 2024 11:11pm

Business & Economy

After Fitch, Aurangzeb apprises Moody’s reps on IMF deal, economic reforms

Finance Minister informs ratings agency officials that multilateral institutions’ confidence growing in financing projects in Pakistan

Updated 23 Jul, 2024 10:57pm

Companies

Coca-Cola raises forecasts, bets on price hikes and ad blitz

Coca-Cola raised its annual sales and profit forecasts on Tuesday, as the beverage maker expects to benefit from...

Published 23 Jul, 2024 09:53pm

Energy

Oil extends losses on ceasefire talks, demand concerns

LONDON: Oil prices fell for a third consecutive session on Tuesday, as growing expectations of a ceasefire in Gaza...

Updated 23 Jul, 2024 09:25pm

Europe

July 21 hottest day ever recorded globally: EU climate monitor

PARIS: July 21 was the hottest day ever registered globally, according to preliminary data published on Tuesday by...

Published 23 Jul, 2024 09:22pm

Reserved seats verdict: PPP files review petition in Supreme Court

After Pakistan Muslim League-Nawaz (PML-N), Pakistan People’s Party (PPP) has also filed a review petition in the...

Updated 23 Jul, 2024 09:13pm

USA

US Secret Service director resigns after Trump assassination bid

WASHINGTON: US Secret Service Director Kimberly Cheatle resigned on Tuesday, a day after acknowledging that the...

Published 23 Jul, 2024 08:49pm

Energy

‘Refineries upgrade at risk due to newly-introduced sales tax exemption’

The government has introduced a sales tax exemption in the Finance Act 2024 on petroleum products, which will...

Updated 23 Jul, 2024 08:04pm

Stocks

India hikes taxes on equity investments; fund managers see short-term hit

MUMBAI: The Indian government raised the tax rate on equity derivatives trades and on capital gains from equity...

Published 23 Jul, 2024 07:48pm

Europe

Kyiv urges ‘direct dialogue’ with China on Ukraine peace

BEIJING: Ukrainian foreign minister Dmytro Kuleba said Tuesday it was “important” for Ukraine and China – an ally of...

Published 23 Jul, 2024 07:40pm

Stocks

US stocks little changed following mixed earnings

NEW YORK: Wall Street stocks struggled for direction early Tuesday as a mixed bag of earnings results competed for...

Published 23 Jul, 2024 07:38pm

Business & Economy

PBC questions govt’s ambitious $65bn export target

The Pakistan Business Council (PBC), the country’s largest corporate sector advocacy platform, has raised concerns...

Published 23 Jul, 2024 07:27pm

Exchange

Rupee falls marginally against US dollar

Currency settles at 278.41 against the greenback in inter-bank market

Updated 23 Jul, 2024 07:24pm

Summer vacations in Sindh educational institutions extended till August 14

Decision made due to heatwave and expected monsoon rains, according to a notification issued by Sindh Education Department

Published 23 Jul, 2024 07:24pm

PTI’s Raoof Hasan handed over to FIA on two-day physical remand

A district and sessions court in Islamabad on Tuesday granted a two-day physical remand of Pakistan...

Updated 23 Jul, 2024 07:23pm

Europe

WHO ‘extremely worried’ at prospect of polio, other outbreaks in Gaza

Official says number of people now needing to be evacuated from the territory for medical care may have risen to 14,000

Updated 23 Jul, 2024 07:22pm

Companies

DFML shares progress on EV manufacturing, share price hits upper limit

Dewan Farooque Motors Limited (DFML) informed stakeholders regarding the progress made at its assembly plant for the...

Updated 23 Jul, 2024 07:18pm

Stocks

Buying returns at PSX as KSE-100 closes nearly 450 points higher

After some selling pressure that saw a correction of around 4% in the previous two sessions, positivity returned to...

Updated 23 Jul, 2024 07:18pm

Women’s Asia Cup: Pakistan grab ten-wicket win over UAE

Opener Gull Feroza shone with a second consecutive half-century as Pakistan registered a comprehensive 10-wicket win...

Updated 23 Jul, 2024 07:15pm

South Asia

Bangladesh arrest total passes 2,500: AFP tally

DHAKA: The number of arrests in days of violence in Bangladesh passed the 2,500 mark in an AFP tally on Tuesday,...

Updated 23 Jul, 2024 06:08pm

Commodities

Copper hits multi-month low on growing Chinese demand fears

LONDON: Copper prices extended their fall to a seventh consecutive session on Tuesday to hit their lowest in three...

Published 23 Jul, 2024 05:52pm

Commodities

Gold snaps 4-day losing streak as traders await US economic data

Gold prices drifted higher on Tuesday, snapping a four-day losing streak, as investors awaited U.S. economic data...

Published 23 Jul, 2024 05:49pm

Forex

Yen rises as traders look to BOJ, while dollar holds steady

LONDON/SINGAPORE: The yen rose on Tuesday as investors reacted to comments from a senior Japanese politician that...

Published 23 Jul, 2024 05:12pm

Europe

No plan for Erdogan to meet Assad, Turkish source says

MOSCOW: A newspaper report that Turkish President Tayyip Erdogan will meet Syrian President Bashar al-Assad is...

Published 23 Jul, 2024 05:10pm

South Asia

India’s Modi spends billions on jobs, key allies in first budget after election

NEW DELHI: India unveiled spending of billions of dollars to create new jobs and satisfy key coalition partners in...

Published 23 Jul, 2024 05:03pm

Movies & Music

US rapper Snoop Dogg to carry Olympic torch

PARIS: American rapper Snoop Dogg will be among the carriers of the Olympic flame this Friday as it makes its final...

Published 23 Jul, 2024 05:00pm

Companies

Electric motorcycles: Zyp Technologies announces $1.5mn Series Pre-A funding

Zyp Technologies, which operates in the energy and electric motorcycle assembly space, announced on Tuesday that it...

Updated 23 Jul, 2024 02:18pm

Chinese co lodges complaint against SBP

This comes over central bank not approving foreign exchange for debt servicing and Sinosure premium

Updated 23 Jul, 2024 02:15pm

Movies & Music

Hollywood donors drop ‘Dembargo’ as celebrities back Harris

LOS ANGELES: A Hollywood “Dembargo” on political donations has ended, as key fundraisers and celebrities from rapper...

Published 23 Jul, 2024 01:52pm

Forex

South African rand weakens, eyes on inflation data

JOHANNESBURG: The South African rand weakened in early trading on Tuesday, as investors looked towards June...

Published 23 Jul, 2024 01:46pm

Stocks

London’s FTSE 100 falls as copper miners, automobile stocks weigh

London’s FTSE 100 inched down on Tuesday as copper miners weighed heavily on the market, tracking lower copper...

Published 23 Jul, 2024 01:44pm

Asia

Japan imposes sanctions on four Israeli settlers in West Bank

TOKYO: Japan imposed asset-freeze sanctions on four individual Israeli settlers for violence against Palestinians in...

Published 23 Jul, 2024 01:40pm

India government cuts gross market borrowings to 14.01 trillion rupees for 2024-25

MUMBAI: The Indian government has lowered its planned gross market borrowing by 120 billion rupees ($1.44 billion)...

Published 23 Jul, 2024 01:33pm

Stocks

European stock markets diverge at open

LONDON: Europe’s main stock markets diverged at the open Tuesday following a strong start to a week dominated by the...

Published 23 Jul, 2024 01:24pm

MENA

Palestinian officials say Israel troops kill 5 in West Bank raid

TULKAREM: Palestinian officials said Israeli troops killed five Palestinians, including two women, in a pre-dawn...

Published 23 Jul, 2024 01:22pm

Andy Murray confirms retirement after Paris Olympics

PARIS: Former world number one and three-time Grand Slam title winner Andy Murray confrmed on Tuesday that he will...

Published 23 Jul, 2024 01:18pm

Africa

Death toll from Ethiopia landslide rises to 146: local official

ADDIS ABABA: The death toll from a landslide in southern Ethiopia has risen to at least 146, a local official said...

Published 23 Jul, 2024 01:17pm

Commodities

Gold price per tola decreases Rs500 in Pakistan

After registering an increase in the previous session, gold prices in Pakistan registered losses on Tuesday in line...

Published 23 Jul, 2024 12:39pm

NICL, SLICL, PRCL no longer strategic SOEs?

Cabinet Committee decides companies did not meet criteria of strategic or essential SOEs

Updated 23 Jul, 2024 12:30pm

Star names in short supply in men’s Olympic football tournament

PARIS: Kylian Mbappe wanted to take part in this year’s Olympics in his home city, while there were hopes that...

Published 23 Jul, 2024 12:00pm

MENA

Gaza health ministry says 70 killed after Israel evacuation order

GAZA STRIP: The health ministry in Hamas-run Gaza said Monday that an Israeli operation in the main southern city of...

Published 23 Jul, 2024 11:56am

Asia

Beijing Declaration: Hamas announces ‘national unity’ deal with Palestinian rivals

BEIJING: Hamas announced on Tuesday it had signed an agreement in Beijing with other Palestinian organisations...

Updated 23 Jul, 2024 11:43am

Sri Lanka names Charith Asalanka to lead T20 team

COLOMBO: Sri Lanka has named Charith Asalanka their new T20 captain Tuesday ahead of a white ball series against...

Published 23 Jul, 2024 11:35am

Energy

MARI successfully concludes Ghazij appraisal program

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, successfully...

Published 23 Jul, 2024 11:34am

USA

Kamala Harris closes in on nomination with delegates secured, to campaign in Wisconsin

Vice President Kamala Harris will campaign in the critical battleground state of Wisconsin on Tuesday for the first...

Published 23 Jul, 2024 11:09am

Asia

Drug giants eye China for deals despite growing Sino-US tensions

SHANGHAI/HONG KONG: Some of the biggest global drugmakers, undeterred by mounting Sino-US tensions, are scouring for...

Published 23 Jul, 2024 11:05am

Asia

Flight carrying Malaysians evacuated from Bangladesh to arrive on Tuesday

KUALA LUMPUR: A charted flight carrying Malaysian nationals evacuated from deadly violence in Bangladesh is expected...

Published 23 Jul, 2024 11:01am

Cybersecurity firm Wiz calls off $23bn deal with Google, memo says

Cybersecurity startup Wiz has walked away from a reported $23 billion deal to be acquired by Google-parent Alphabet...

Published 23 Jul, 2024 10:58am

Bullion Rate

Gold prices steady with US economic data in focus

Gold prices were steady on Tuesday as investors strapped in for US economic data this week for clarity on the...

Published 23 Jul, 2024 10:56am

Stocks

Liquor shares drag China stocks down; HK shares flat

SHANGHAI: China stocks fell on Tuesday, dragged by liquor shares, as the country’s efforts to spur domestic...

Published 23 Jul, 2024 10:55am

Stocks

Australian shares rise as banks, tech gain; Woodside and Lynas fall

Australian shares rose on Tuesday to snap a three-session losing streak, with banking and technology stocks leading...

Published 23 Jul, 2024 10:54am

Commodities

Soybeans extend gains as traders weigh Trump re-election chances

CANBERRA: Chicago soybean futures extended the climb on Tuesday after a reassessment of Donald Trump’s chances of...

Published 23 Jul, 2024 10:53am

Forex

Indian rupee nudges higher tracking Asian peers; India budget awaited

MUMBAI: The Indian rupee marginally rose on Tuesday, tracking a rise in most of its Asian peers and as investors...

Published 23 Jul, 2024 10:51am

Stocks

Japan’s Nikkei rebounds from 3-week low as chipmakers, shippers rally

TOKYO: Japan’s Nikkei share average rebounded on Tuesday from a three-week low hit in the previous session, as...

Published 23 Jul, 2024 10:50am

Mutual Funds

India benchmark bond yield flat in run up to budget; focus on FY25 borrowing plan

MUMBAI: Indian government bond yields remained flat Tuesday morning as traders stayed put ahead of the keenly...

Published 23 Jul, 2024 10:49am

Stocks

Asia snaps losing streak as chip stocks bounce

SINGAPORE: Asian stocks bounced from one-month lows on Tuesday, with Taiwan’s market snapping a five-day losing...

Published 23 Jul, 2024 10:48am

De Bruyne going nowhere, says Man City boss Guardiola

Manchester City manager Pep Guardiola has poured cold water on reports linking Kevin De Bruyne with a move away from...

Published 23 Jul, 2024 10:47am

Europe

Russia destroys 25 Ukraine-launched drones, Russian defence ministry says

Russia’s air defence systems destroyed 25 attack drones that Ukraine launched overnight, the Russian defence...

Published 23 Jul, 2024 10:45am

Commodities

Philippines says 2024 rice imports will not reach 4.7mn T, as forecast by USDA

MANILA: The Philippines’ rice imports will not reach 4.7 million metric tons despite a lowering of tariffs,...

Published 23 Jul, 2024 10:44am

Commodities

Copper under pressure on China demand concerns

BEIJING: Copper prices were under pressure on Tuesday amid growing concerns over the demand outlook in top consumer...

Published 23 Jul, 2024 10:43am

Europe

Russia conducts second mobile nuclear missile launcher drills this month

Russian forces are conducting drills involving Yars mobile nuclear missile launchers, Russian media reported on...

Published 23 Jul, 2024 10:41am

Forex

China’s yuan steady following rate cuts, eyes on US data

SHANGHAI: The yuan held steady on Tuesday against the US dollar, with analysts saying the fragile currency would...

Published 23 Jul, 2024 10:37am

Stocks

Indian shares dip as volatility spikes ahead of budget

BENGALURU: Indian shares reversed early gains to drop marginally in morning trade on Tuesday, with volatility rising...

Published 23 Jul, 2024 10:08am

Forex

Aussie, kiwi dollars struggle on China’s rate cuts; dollar adrift

SINGAPORE: The Australian and New Zealand dollars languished near multi-week lows on Tuesday after China’s move to...

Published 23 Jul, 2024 10:07am

PM to head panel to boost investment

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the authorities concerned to form a steering committee to be...

Updated 23 Jul, 2024 09:45am

NA panel briefed about PIA sell-off progress

ISLAMABAD: Pakistan International Airlines (PIA), burdened by Rs200 billion in debts and owning Rs145 billion in...

Updated 23 Jul, 2024 09:40am

IPC re-notified: Govt seeks out of the box solution to NHP issue

ISLAMABAD: The federal government has re-notified the Inter-Provincial Committee (IPC) of technical and financial...

Updated 23 Jul, 2024 09:39am

Pakistan not yet on agenda of IMF meetings

ISLAMABAD: The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its executive board...

Updated 23 Jul, 2024 09:29am

PTA prepares tariff for cellular mobile services regulations

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has prepared “Tariff for Cellular Mobile Telecommunication...

Updated 23 Jul, 2024 09:24am

Companies

PIA privatisation: final bidding delayed till October 1

KARACHI: The privatisation process of state-owned Pakistan International Airlines (PIA) has been delayed as majority...

Updated 23 Jul, 2024 09:16am

BR’s refresher: your morning briefing for the day

Important updates from July 22, 2024

Published 23 Jul, 2024 08:57am

No targeted subsidy for ministry: 95pc of PR budget being spent on pension, pay, fuel

ISLAMABAD: About 95 percent of the Railways budget is being utilised on pension, pay and fuel and there is no...

Updated 23 Jul, 2024 08:54am

Stocks

Investor transactions: PSX transitions to ‘One-Share Marketable Lot’ system

KARACHI: Pakistan Stock Exchange (PSX) has successfully transitioned to a One-Share Lot system for investor...

Updated 23 Jul, 2024 08:54am

PSP in Discos: World Bank stresses setting up PIU

ISLAMABAD: The World Bank has asked the Power Division to establish a Project Implementing Unit (PIU) to sort out...

Updated 23 Jul, 2024 08:45am

No passport for asylum seekers: Govt reverses its policy decision

ISLAMABAD: Pakistan on Monday reversed its earlier policy decision with immediate effect in which it was decided not...

Updated 23 Jul, 2024 08:44am

SME sector’s access to finance priority area: DG SBP

KARACHI: Deputy Governor, State Bank of Pakistan (SBP), Saleem Ullah has said that ease in access to finance for the...

Updated 23 Jul, 2024 08:35am

PIA concludes Hajj operation

KARACHI: Pakistan International Airlines (PIA) has successfully concluded its Hajj operation 2024, facilitating the...