News Archives for Latest - 2024-07-30

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Archive - 2024-07-30

Suryakumar’s bowling heroics help India to Super Over T20 win

KANDY: Skipper Suryakumar Yadav turned an unlikely hero with the ball as India beat Sri Lanka in a T20 thriller...

Updated 31 Jul, 2024 12:17am

PML-N tables bill in NA against independent candidates joining parties after specified time

Bill says political parties that fail to submit a list of reserved seats within the given time would not be eligible for quota

Updated 30 Jul, 2024 11:16pm

Israeli strike on Beirut targets senior Hezbollah commander, source says

CAIRO: An Israeli strike targeted a senior Hezbollah commander in Beirut’s southern suburbs at dusk on Tuesday, a...

Published 30 Jul, 2024 10:16pm

Ex-army officer Akbar Hussain handed 14 years jail for ‘inciting sedition’

Lieutenant Colonel Akbar Hussain, a retired officer of Pakistan Army, was handed a 14-year jail sentence after the...

Updated 30 Jul, 2024 10:15pm

Business & Economy

Govt adamant on bringing agriculture into tax net: Aurangzeb

Finance Minister says every segment has to play its part

Updated 30 Jul, 2024 10:14pm

Companies

Fauji Fertilizer Company makes Rs25bn profit in three-month period

Fauji Fertilizer Company (FFC) , one of Pakistan’s largest fertilizer producers, posted a consolidated...

Updated 30 Jul, 2024 10:13pm

Stocks

KSE-100 retreats marginally as investors ‘unimpressed’ with 100bps cut in key policy rate

The Pakistan Stock Exchange (PSX) saw a lacklustre session on Tuesday and the KSE-100 Index fell 0.25% as investors...

Updated 30 Jul, 2024 08:50pm

Business & Economy

S&P Global keeps Pakistan’s rating at ‘CCC+’, citing reliance on foreign aid

Ratings agency says strong foreign fund inflows and moderate current account deficits would likely be required to restore Pakistan’s external buffers

Published 30 Jul, 2024 08:25pm

Deputy PM Ishaq Dar in Tehran to attend Iranian President-elect’s oath ceremony

Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday arrived in Tehran to attend the inauguration and...

Updated 30 Jul, 2024 08:06pm

President Zardari calls for stronger cooperation with Commonwealth

Says Pakistan attaches great importance to the Commonwealth for promoting cooperation among member states

Published 30 Jul, 2024 07:58pm

Currency

Rupee sees marginal decline against US dollar

Currency settles at 278.66 against the greenback in inter-bank market

Updated 30 Jul, 2024 07:37pm

Business & Economy

Pakistan’s finance ministry forecasts July inflation at 12-13%

ISLAMABAD: Pakistan’s finance ministry expects inflation in July to range between 12% and 13%, easing further in...

Updated 30 Jul, 2024 07:17pm

Stocks

US stocks higher after earnings mixed bag

NEW YORK: Wall Street stocks advanced early Tuesday following a stream of mixed earnings reports ahead of looming...

Published 30 Jul, 2024 07:01pm

Companies

Suhail Jute Mills says political, economic uncertainties behind inability to start commercial operations

Suhail Jute Mills Limited (SUJH), engaged in the manufacturing and sale of jute products, said the company has been...

Updated 30 Jul, 2024 06:38pm

Tearful Gauff dumped out of Olympics after on-court row as Nadal returns

PARIS: Tearful Coco Gauff crashed out of the Paris Olympics at the hands of Donna Vekic on Tuesday as Rafael Nadal...

Published 30 Jul, 2024 06:38pm

South Asia

93 killed after landslides strike India tea estates

BENGALURU: Landslides in India triggered by pounding monsoon rains struck tea plantations and killed at least 93...

Updated 30 Jul, 2024 05:59pm

Middle East

Palestinian prisoner group demands international inquiry into abuse allegations

RAMALLAH, WEST BANK: The association representing Palestinian prisoners called for an international inquiry into...

Published 30 Jul, 2024 05:24pm

Europe

Russia says captured another village in Ukraine’s Donetsk region

MOSCOW: Russian forces said Tuesday they had captured another village in their offensive in Ukraine’s eastern...

Published 30 Jul, 2024 05:19pm

Stocks

Stock markets diverge before key earnings, rate calls

LONDON: Leading equity markets traded mixed Tuesday before the week’s slew of interest-rate decisions and earnings...

Updated 30 Jul, 2024 05:15pm

Middle East

Israeli forces quit east Khan Younis, Palestinians recover dozens of bodies

CAIRO/KHAN YOUNIS: Thousands of Palestinians returned to their homes in the ruins of Gaza’s main southern city Khan...

Published 30 Jul, 2024 05:06pm

Energy

Oil steadies near lowest since early June as China concerns weigh

LONDON: Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were...

Updated 30 Jul, 2024 04:52pm

Stocks

Indian shares close flat as profit-booking continues near record high levels

BENGALURU: Indian shares closed flat on Tuesday as investors continued to sell on profit with the benchmarks near...

Published 30 Jul, 2024 04:51pm

Stocks

Sri Lanka shares fall as communication services and energy stocks weigh

CSE All-Share index settled down 0.93% at 11,510.76

Published 30 Jul, 2024 04:48pm

Commodities

China demand concerns, risk-off sentiment drag copper below $9,000/t

LONDON: Copper prices in London extended their fall to the third consecutive session on Tuesday as concerns about...

Published 30 Jul, 2024 04:46pm

Commodities

Palm rises, supported by stronger rival oils

JAKARTA: Malaysian palm oil futures rose on Tuesday, supported by a stronger palm oil contract on the Dalian...

Published 30 Jul, 2024 04:42pm

Europe

Russian oil depot ablaze for two days after Ukraine strike: governor

MOSCOW: Russia said Tuesday it had extinguished a fire at a oil depot that blazed for 48 hours after a Ukrainian...

Published 30 Jul, 2024 03:11pm

Europe

EU slams ‘use of excessive force’ against Bangladesh protesters

BRUSSELS: EU foreign policy chief Josep Borrell on Tuesday condemned the “use of excessive” force against protesters...

Published 30 Jul, 2024 03:08pm

Phasing out incentives for SEZs not so easy

ISLAMABAD: Despite an International Monetary Fund (IMF) statement indicating government assurance to phase-out...

Updated 30 Jul, 2024 03:05pm

Stocks

London’s FTSE 100 slips as corporate earnings, investor caution weigh

London stocks moved lower on Tuesday as investors assessed a mixed bag of corporate earnings and exercised caution...

Published 30 Jul, 2024 02:51pm

MENA

Dubai: 7 indoor activities to beat the heat

Since the heat is showing no signs of respite, for those heading off to Dubai for a short break will be better off...

Updated 30 Jul, 2024 02:50pm

The Olympics superfan who has spent $10,000 on Paris tickets

PARIS: Vivianne Robinson was first bitten by the Olympics bug at the 1984 Los Angeles Games. Four decades on, the...

Updated 30 Jul, 2024 02:48pm

Power sector: Work begins to remove major bottlenecks

The key issue, due to which authorities are worried about, is uncontrolled power sector circular debt which is over Rs2.4 trillion

Updated 30 Jul, 2024 02:48pm

Forex

Russian rouble strengthens as sales of foreign currency remain strong

MOSCOW: The Russian rouble strengthened slightly against the dollar and the euro on Tuesday due to continued strong...

Published 30 Jul, 2024 02:44pm

IMF deal lifts Ethiopia’s sole international bond to highest since Oct 2021

LONDON: Ethiopia’s only international market government bond rose to its highest level since October 2021 on Tuesday...

Published 30 Jul, 2024 02:35pm

Forex

Steady Kenyan shilling eyes boost from dollar inflows

NAIROBI: Kenya’s shilling held steady on Tuesday, with traders projecting that dollar inflows from the tourism and...

Published 30 Jul, 2024 02:30pm

Asia

US Defence Secretary says Hezbollah-Israel conflict not inevitable

MANILA: United States Defence Secretary Lloyd Austin does not believe that a fight between Israel and Hezbollah is...

Published 30 Jul, 2024 01:48pm

Crickets get crunchy as Singapore approves edible insects amid food security push

SINGAPORE: At Singapore’s House of Seafood restaurant, the fish-head curry comes with a side of crunchy crickets,...

Published 30 Jul, 2024 01:47pm

Simone Biles chases first Paris Olympic gold, triathlon postponed

PARIS: Simone Biles is tipped to win her first Olympic gymnastics gold since 2016 on Tuesday, while Paris organisers...

Published 30 Jul, 2024 01:20pm

Newcastle’s Howe not contacted ‘whatsoever’ about England job

TOKYO: Newcastle United manager Eddie Howe said Tuesday he has not had any official contact about the vacant England...

Published 30 Jul, 2024 01:18pm

No Olympics is no problem for ATP, WTA players in Washington

WASHINGTON: Concerns over surface switching and injuries prompted several top ATP and WTA players to skip the Paris...

Published 30 Jul, 2024 01:14pm

Novak Djokovic withdraws from ATP Montreal event

MONTREAL: World number two Novak Djokovic has withdrawn from next week’s ATP Canadian Open tournament in Montreal,...

Published 30 Jul, 2024 01:12pm

Air New Zealand scraps 2030 emissions targets

WELLINGTON: Air New Zealand on Tuesday shelved ambitious 2030 carbon emissions targets, blaming a tight supply of...

Published 30 Jul, 2024 01:10pm

Asia

Vietnam coal mine collapse kills five

HANOI: A coal mine collapsed near Vietnam’s Ha Long Bay after heavy rain killing five people, state media reported...

Published 30 Jul, 2024 01:08pm

South Africa’s Tatjana Smith ‘blessed’ after more Olympic glory

PARIS: South African Tatjana Smith claimed the Olympic 100m breaststroke title on Monday with a late surge to win a...

Published 30 Jul, 2024 01:06pm

Stocks

Asian investors trade cautiously ahead of central bank decisions

HONG KONG: Asian markets edged down Tuesday as investors jockey ahead of a slew of central bank decisions, key...

Published 30 Jul, 2024 01:00pm

South Asia

Two killed, 20 injured in India train derailment

PATNA: An Indian passenger train derailed and several of its cars overturned on Tuesday, killing at least two people...

Published 30 Jul, 2024 12:58pm

Parts of Karachi receive light to moderate rain

Several areas of Karachi received light to moderate rainfall on Tuesday, as the National Disaster Management...

Published 30 Jul, 2024 12:55pm

Energy

Oil giant BP reports tumbling profits in first half

LONDON: BP on Tuesday announced tumbling profits for the first half, with the British oil and gas giant hit by...

Published 30 Jul, 2024 12:54pm

Aryna Sabalenka returns from shoulder injury at Washington

WASHINGTON: Two-time reigning Australian Open champion Aryna Sabalenka returns to competition at this week’s WTA...

Published 30 Jul, 2024 12:52pm

Commodities

Chicago grains drop on weather outlook, USDA data

JAKARTA: Chicago wheat and corn dropped on Tuesday after data from the US Department of Agriculture (USDA) showed...

Published 30 Jul, 2024 12:01pm

Venezuela opposition says its victory is irreversible, citing 73% of vote tallies

CARACAS/MARACAIBO/MARACAY: Venezuela opposition leader Maria Corina Machado said on Monday the country’s opposition...

Published 30 Jul, 2024 11:56am

Australian foreign minister condemns Russia-North Korea ties after DMZ visit

PAJU: Australian Foreign Minister Penny Wong said on Tuesday that a security pact signed by Russia and North Korea...

Published 30 Jul, 2024 11:47am

Europe

Russian navy starts major drills involving most of its fleet

The Russian navy started planned exercises involving most of its fleet as well as 20,000 personnel and 300 ships,...

Published 30 Jul, 2024 11:43am

Asia

Four killed in rains, floods as remnants of weakened Gaemi lash south China

BEIJING: Torrential rain and flooding in China’s southern Hunan province has killed four people and prompted the...

Published 30 Jul, 2024 11:38am

Commodities

Palm opens higher with support from strong Dalian contract

JAKARTA: Malaysian palm oil futures opened higher on Tuesday, supported by strength of the palm oil contract in the...

Published 30 Jul, 2024 11:32am

Swiss chemical maker Sika backs annual forecast after 9.2% jump in half-year sales

ZURICH: Swiss chemicals maker Sika AG, on Tuesday, reported a 9.2% jump in sales for the first half of the year and...

Published 30 Jul, 2024 11:30am

Toyota global output skids in June, dragged down by Japan and China

TOKYO: Toyota’s global production tumbled in June, down for a fifth straight month with the automaker hit hard by a...

Published 30 Jul, 2024 11:22am

Forex

China’s yuan eases ahead of Politburo meeting, global central bank decisions

HONG KONG: China’s yuan inched lower against the US dollar on Tuesday, weighed down by weaker official guidance and...

Published 30 Jul, 2024 11:05am

Europe

Italy’s Meloni urges Israel not to fall into ‘trap’ of retaliation

ROME: Italian Prime Minister Giorgia Meloni on Tuesday called on Israel not to fall into the “trap” of retaliation,...

Published 30 Jul, 2024 10:59am

Stocks

China stocks extend losses as investors assess economic outlook

HONG KONG: China’s blue-chip stocks retreated for a second day and Hong Kong shares also dropped on Tuesday, as...

Published 30 Jul, 2024 10:56am

Forex

Indian rupee flat; interbank paying lifts forward premiums ahead of Fed meet

MUMBAI: The Indian rupee was little changed on Tuesday supported by mild dollar sales from state-run banks, while...

Published 30 Jul, 2024 10:52am

Mutual Funds

JGB yields tick lower on eve of crucial BOJ, Fed policy decisions

TOKYO: Japanese government bond yields ticked down on Tuesday, a day before crucial policy decisions by both the...

Published 30 Jul, 2024 10:41am

France’s economy grew 0.3% in second quarter, early data shows

France’s economy grew by a more-than-expected 0.3% in the second quarter, helped by a slight rise in domestic demand...

Published 30 Jul, 2024 10:38am

Bullion Rate

Gold holds steady as Fed meeting looms

Gold prices held steady on Tuesday as investors looked for more cues on when the US central bank will cut interest...

Published 30 Jul, 2024 10:31am

Mutual Funds

India bond yields may dip amid strong local demand; Fed meet eyed

MUMBAI: Indian government bond yields are expected to ease marginally in early trading on Tuesday amid strong...

Published 30 Jul, 2024 10:29am

Forex

Australia, NZ dollars vulnerable to volatility as inflation test looms

SYDNEY: The Australian and New Zealand dollars were pinned near multi-month lows on Tuesday as investors counted...

Published 30 Jul, 2024 10:27am

Stocks

Indian shares pressured by profit-booking near record highs

BENGALURU: Indian shares were under pressure at the open on Tuesday as investors continued to book profits with the...

Published 30 Jul, 2024 10:22am

Stocks

Australian shares plunge 1% as rate-hike concerns persist

Australian shares dropped more than 1% on Tuesday amid broad-based selling, with banks and commodities leading the...

Published 30 Jul, 2024 10:19am

Forex

Dollar, yen hold tight ranges as market braces for BOJ, Fed

TOKYO: The dollar and yen kept within close ranges on Tuesday as traders awaited key central bank decisions, kicking...

Published 30 Jul, 2024 10:16am

Stocks

Japan’s Nikkei falls after sharp gains, central bank meetings in focus

TOKYO: Japan’s Nikkei share average fell on Tuesday, as investors sold stocks after sharp gains in the previous...

Published 30 Jul, 2024 10:12am

PM welcomes Fitch upgrade

ISLAMABAD: Prime Minister Shehbaz Sharif has welcomed Pakistan’s Triple C plus rating by global credit rating agency...

Updated 30 Jul, 2024 09:50am

Death threats to Justice Isa: Defence minister says govt to take ‘stringent action’

ISLAMABAD: Slamming the propaganda against the top judge of the country, the Minister for Defence Khawaja Asif on...

Updated 30 Jul, 2024 09:49am

Supply of coal to power houses: 100pc tax credit given to miners in Sindh

ISLAMABAD: The Federal Board of Revenue (FBR) has allowed 100 per cent tax credit to persons engaged in coal mining...

Updated 30 Jul, 2024 09:31am

‘Transfer to admin pool’: SHC suspends FBR notification

ISLAMABAD: The Sindh High Court (SHC) has suspended a notification of the Federal Board of Revenue (FBR) to transfer...

Updated 30 Jul, 2024 09:30am

Stock market-linked Mutual Funds: SECP concerned about lack of investors’ interest

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has expressed serious concern that the stock...

Updated 30 Jul, 2024 09:30am

Power sector reforms: Nepra supports setting up of ISMO

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) is said to have supported establishment of a new...

Updated 30 Jul, 2024 09:01am

APTMA urges govt to revisit deals with IPPs

ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) has called on the federal government to renegotiate...

Updated 30 Jul, 2024 08:58am

BR’s refresher: your morning briefing for the day

Important updates from July 29, 2024

Published 30 Jul, 2024 08:56am

ECP notifies 93 returned MPAs as PTI lawmakers

ISLAMABAD: The number of PTI lawmakers in four assemblies now becomes 132— after the electoral entity, Monday,...

Updated 30 Jul, 2024 08:41am

Two ad hoc SC judges take oath

ISLAMABAD: Chief Justice of Pakistan Qazi Faez Isa administered the oath of offices to Justice Sardar Tariq Masood...

Updated 30 Jul, 2024 08:40am

MPS: ‘if you try sometimes, you get what you need’

The autonomous central bank finally seems to have found its voice. On Monday, the Monetary Policy Committee of SBP...

Published 30 Jul, 2024 06:51am

Circling the drain

Inflation was fairly tamed, a second policy rate cut well in play, and after a particularly gruelling exercise of...

Published 30 Jul, 2024 06:46am

Ibrahim Fibres Limited

Ibrahim Fibres Limited (PSX: IBFL) was incorporated in Pakistan as a public limited company in 1986. The company is...

Published 30 Jul, 2024 06:40am

Islaah beyond IMF

Pakistan’s economic stability has long been precarious, which is why the country’s economic history over the past...