News Archives for Latest - 2024-08-01

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Archive - 2024-08-01

USA

Netanyahu and Biden to hold call on Thursday, White House says

WASHINGTON: Israeli Prime Minister Benjamin Netanyahu and U.S. President Joe Biden will speak by phone on Thursday,...

Published 01 Aug, 2024 11:40pm

Govt declares August 2 national day of mourning over Ismail Haniyeh assassination

Ruling coalition decides to present a resolution in the Parliament to express solidarity with the people of Palestine

Updated 01 Aug, 2024 11:37pm

Jordan says Israel turned ‘rogue state’ with Hamas leader killing

AMMAN: Jordanian Foreign Minister Ayman Safadi said Thursday that Israel had turned “rogue” state with its...

Published 01 Aug, 2024 11:32pm

At least 15 Palestinians killed in Israeli strike on school in Gaza, emergency services say

Israeli forces hit a school in Shejaia in Gaza City on Thursday, killing at least 15 people and wounding 29,...

Published 01 Aug, 2024 11:16pm

Lebanon says four Syrians killed in Israeli strike on south

BEIRUT: The Lebanese health ministry said four Syrians were killed Thursday in an Israeli strike on the south, where...

Published 01 Aug, 2024 10:52pm

Business & Economy

Cannot defer reform agenda anymore, says Aurangzeb

Finance minister says state-owned insurance companies should also be handed over to private sector

Updated 01 Aug, 2024 09:34pm

MENA

Calls for revenge at Iran funeral for Hamas chief Haniyeh

TEHRAN: Iran held funeral processions on Thursday with calls for revenge after the killing in Tehran of Hamas...

Updated 01 Aug, 2024 09:33pm

Middle East

Hezbollah leader vows to avenge top commander killed by Israel

BEIRUT: Lebanese Hezbollah’s head Hassan Nasrallah vowed on Thursday to respond to Israel’s killing of the group’s...

Published 01 Aug, 2024 09:10pm

Middle East

Netanyahu says Israel is ready for any scenario

JERUSALEM: Israel is on a high state of alert, Prime Minister Benjamin Netanyahu said on Thursday, amid growing...

Published 01 Aug, 2024 08:09pm

Stocks

Wall St gains on September rate-cut hopes; Meta soars

Wall Street’s main indexes rose on Thursday, lifted by the Federal Reserve’s signals of a September rate cut and a...

Published 01 Aug, 2024 08:06pm

Energy

Oil prices steady as OPEC sticks to oil policy

HOUSTON: Oil prices were little changed on Thursday as investors weighed producer group OPEC+’s decision to keep its...

Updated 01 Aug, 2024 07:58pm

Algerian Khelif advances as Italy’s Carini abandons fight after 46 seconds

PARIS: Algerian Imane Khelif’s much-anticipated Paris Olympics omen’s welterweight fight against Angela Carini in...

Published 01 Aug, 2024 07:52pm

Money & Banking

World Bank offers roadmap to avoid ‘middle-income trap’

WASHINGTON: More than 100 countries, including China, are at risk of entering a “middle-income trap” and failing to...

Published 01 Aug, 2024 07:22pm

Forex

SBP-held foreign exchange reserves increase $75mn, now stand at $9.1bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $75 million on a weekly basis,...

Published 01 Aug, 2024 07:16pm

Stocks

Gulf stocks mixed on Middle East tensions, US rate-cut outlook

Stock markets in the Gulf ended mixed on Thursday amid tensions in the Middle East following the killing of Hamas...

Published 01 Aug, 2024 07:12pm

Europe

Turkiye blocks NATO-Israel cooperation over Gaza war, sources say

ANKARA: Turkiye has blocked cooperation between NATO and Israel since October because of the war in Gaza and said...

Published 01 Aug, 2024 06:26pm

Movies & Music

Spielberg, Cruise, Kidman: Hollywood comes to the Olympics

PARIS: Hollywood is out in force at the Paris Olympics – perhaps taking notes before the United States’ turn to host...

Published 01 Aug, 2024 06:16pm

Commodities

Asia rice: India rates climb to six-week peak; Thai prices steady

India’s rice export prices rose to their highest level since mid-June this week, while Thailand’s prices were little...

Published 01 Aug, 2024 06:12pm

Heavy rain breaks 44-year record in Lahore

Lahore experienced record-breaking rainfall on Thursday, the highest in the last 44 years, according to the Regional...

Updated 01 Aug, 2024 06:08pm

Exchange

Rupee records marginal improvement against US dollar

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

Updated 01 Aug, 2024 06:01pm

South Asia

Iran, its proxies will meet to discuss retaliation against Israel, say sources

DUBAI: Top Iranian officials will meet the representatives of Iran’s regional allies from Lebanon, Iraq and Yemen on...

Published 01 Aug, 2024 05:59pm

Business & Economy

Pakistan’s headline inflation clocks in at 11.1% in July 2024, lowest since November 2021

Reading lower than official expectations that put figure in range of 12-13%

Updated 01 Aug, 2024 05:55pm

Stocks

KSE-100 closes 147 points lower after volatile trading

The Pakistan Stock Exchange (PSX) witnessed a negative session on Thursday, as its benchmark KSE-100 closed the...

Published 01 Aug, 2024 05:54pm

Money & Banking

Bank of England cuts rates from 16-year high, ‘careful’ on future moves

LONDON: The Bank of England cut interest rates from a 16-year high on Thursday after a narrow vote in favour from...

Published 01 Aug, 2024 05:43pm

Europe

Kremlin says Russia will shoot down Ukraine’s F-16 fighter jets

MOSCOW: The Kremlin said on Thursday that Russian forces would shoot down US-built F-16 fighter jets sent to...

Published 01 Aug, 2024 05:36pm

Stocks

India’s blue-chips log record closing highs on US rate cut prospects

BENGALURU: India’s benchmark indexes registered record closing highs on Thursday, boosted by prospects of a U.S....

Published 01 Aug, 2024 05:29pm

Stocks

Sri Lanka shares end higher as energy, consumer discretionary gain

CSE All-Share index settled 0.29% higher at 11,439.70

Published 01 Aug, 2024 05:27pm

Commodities

Copper falls on soft Chinese factory data, higher inventories

LONDON: Copper prices retreated on Thursday on worse-than-expected factory data in top metals consumer China and...

Published 01 Aug, 2024 05:25pm

Commodities

Palm oil falls for second session as firmer ringgit, rival oils weigh

JAKARTA: Malaysian palm oil futures dropped for a second consecutive session on Thursday as a stronger ringgit and...

Published 01 Aug, 2024 05:23pm

Business & Economy

Five Chinese firms bid to help with Pakistan’s Panda Bond issuance

ISLAMABAD: Five Chinese firms have placed bids to work on Pakistan’s issuance of Panda Bonds, the South Asian...

Published 01 Aug, 2024 05:18pm

Stocks

Hascol posts loss of Rs1.74bn in first quarter of 2024

Hascol Petroleum Limited sustained a loss of Rs1.74 billion in the first three months of 2024 (January-March),...

Published 01 Aug, 2024 04:56pm

Europe

Dutch rail operator NS to cut 500 jobs to curb losses

THE HAGUE: Dutch rail operator NS on Thursday announced it will cut 500 jobs to curb costs, with the state-owned...

Published 01 Aug, 2024 04:17pm

Commodities

Gold price per tola increases Rs1,400 in Pakistan

Gold prices in Pakistan registered gains on Thursday in line with the increase in the international rate. In the...

Published 01 Aug, 2024 04:15pm

Europe

Sweden and US sign cooperation pact on nuclear energy

STOCKHOLM: Sweden’s government said Thursday that it had signed an agreement with the United States to support the...

Published 01 Aug, 2024 04:14pm

After four hours sleep, Marchand starts bid for fourth gold

PARIS: France’s golden boy Leon Marchand was back in the pool Thursday, the morning after his double triumph at La...

Published 01 Aug, 2024 04:11pm

Stocks

MSCI Index: Pakistan’s weight likely to go up by 35-45bps: Topline Securities

Pakistan’s weight is likely to increase in the upcoming Morgan Stanley Capital International (MSCI) Quarterly Index...

Published 01 Aug, 2024 03:55pm

MENA

Death of Hamas military leader Mohammed Deif in July confirmed, Israel says

OCCUPIED JERUSALEM: The head of Hamas’ military wing, Mohammed Deif, was killed in an Israeli airstrike in Gaza last...

Published 01 Aug, 2024 03:45pm

KE says network stable as Karachi receives light to moderate rain

K-Electric (KE) said its network in Karachi was stable as the city received light to moderate rain on Thursday. The...

Published 01 Aug, 2024 03:23pm

Money & Banking

Bank Alfalah’s profit jumps 53% in 2QCY24, clocks in at Rs12bn

Despite lower net interest income, Bank Alfalah saw its consolidated profit jump to Rs12 billion during the quarter...

Published 01 Aug, 2024 03:09pm

Forex

Ugandan shilling weaker due to increased commercial bank FX demand

KAMPALA: The Ugandan shilling was weaker on Thursday, pressured by strong demand for dollars from commercial banks,...

Published 01 Aug, 2024 02:57pm

Movies & Music

Part two of Kevin Costner’s new film to premiere at Venice Film Festival

MILAN: The second part of the Western series ‘Horizon: An American Saga’ by Kevin Costner will have its world...

Published 01 Aug, 2024 02:25pm

Salah scores as Liverpool beat Arsenal 2-1, Chelsea cruise

WASHINGTON: Mohammed Salah and Fabio Carvalho scored first-half goals to give Liverpool a 2-1 victory over Arsenal...

Published 01 Aug, 2024 01:57pm

Top seeds Rublev and Sabalenka tested in Washington wins

WASHINGTON: Top seeds Andrey Rublev and Aryna Sabalenka struggled through determined challenges to avoid upsets with...

Published 01 Aug, 2024 01:53pm

Asia

Antony Blinken hails closer ties with Mongolia in rare visit

ULAANBAATAR: US Secretary of State Antony Blinken was in Mongolia on Thursday at the end of a 10-day tour of Asia,...

Published 01 Aug, 2024 01:48pm

MENA

Bomb kills 19 in northern Nigeria’s Borno state: security sources

KANO: A bomb exploded in a tea house in a village in northeast Nigeria, killing 19 people and wounding two dozen...

Published 01 Aug, 2024 01:47pm

Stocks

European stock markets open mixed

LONDON: Europe’s main stock markets opened mixed Thursday, but London rose as investors awaited a possible...

Published 01 Aug, 2024 01:44pm

Tony Gustavsson out as Matildas coach after Australia Olympic exit

SYDNEY: Football Australia on Thursday parted ways with Matildas head coach Tony Gustavsson, following a disastrous...

Published 01 Aug, 2024 01:41pm

Bullion Rate

Gold scales 2-week high as Fed signals likely Sept rate cut

Gold prices hit a two-week high on Thursday as US Federal Reserve Chair Jerome Powell opened the door to cutting...

Published 01 Aug, 2024 01:28pm

Forex

China’s yuan eases slightly as economic woes remain

SHANGHAI: China’s yuan weakened slightly against the US dollar on Thursday, after surging in the previous session in...

Published 01 Aug, 2024 01:24pm

Hugo Boss misses Q2 operating profit expectations

Hugo Boss reported a 42% drop in second-quarter operating profit on Thursday, below market expectations, two weeks...

Published 01 Aug, 2024 01:22pm

South Asia

At least 11 dead after heavy rain in northern India, hundreds missing

NEW DELHI: At least 11 people died after heavy rain lashed various parts of northern India on Thursday and more than...

Published 01 Aug, 2024 01:20pm

Forex

Malaysian ringgit hits one-year high; most Asian FX, stocks advance

The Malaysian ringgit was on a tear on Thursday amid buoyant emerging Asian currencies, while share markets rose,...

Published 01 Aug, 2024 01:17pm

Europe

UK PM to meet with police chiefs after second night of protests over Southport murders

LONDON: British Prime Minister Keir Starmer will meet senior police leaders on Thursday, his office said, after a...

Published 01 Aug, 2024 01:16pm

Energy

Asia’s crude oil imports drop in July as China stays weak: Russell

LAUNCESTON: Asia’s crude oil imports dropped to the lowest in two years in July as demand remained weak in top...

Published 01 Aug, 2024 01:14pm

Wizz Air cuts annual forecast after first-quarter profit slumps 44%

Wizz Air lowered its annual profit forecast on Thursday after reporting a 44% drop in first-quarter operating...

Published 01 Aug, 2024 01:12pm

Asia

China records hottest month in recent history

BEIJING: China had its hottest month in observed modern history in July, Chinese state media reported, mirroring...

Published 01 Aug, 2024 01:10pm

Shell Q2 profit slides to $6.3bn on weaker trading, refining

LONDON: Shell reported a 19% quarter-on-quarter drop in profit to $6.3 billion on Thursday reflecting weaker...

Published 01 Aug, 2024 01:08pm

Energy

OPEC+ likely to stick to output policy at meeting, sources say

LONDON: OPEC+ key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make...

Published 01 Aug, 2024 01:06pm

Commodities

Chicago soybeans, corn edge down on ample US supplies, China demand worries

BEIJING: Chicago soybean and corn futures eased on Thursday to trade near their lowest since 2020, weighed by ample...

Published 01 Aug, 2024 01:04pm

Stocks

China stocks fall as manufacturing activity shrinks

SHANGHAI: China stocks fell on Thursday, following the biggest one-day gain in five months in the previous session,...

Published 01 Aug, 2024 12:13pm

Forex

Indian rupee edges higher tracking Asian peers, forward premiums rise

MUMBAI: The Indian rupee gained slightly on Thursday, tracking strength in its broader Asian peers after remarks...

Published 01 Aug, 2024 12:01pm

South Asia

Indian soldiers building metal bridge to marooned area in Kerala landslides

CHOORALMALA: Indian soldiers rushed to complete construction of a metal bridge on Thursday to connect the worst...

Published 01 Aug, 2024 11:59am

Asia

Malaysia PM outraged over removal of Facebook post on Haniyeh assassination

KUALA LUMPUR: Malaysia Prime Minister Anwar Ibrahim on Thursday accused Meta Platforms of cowardice after his...

Published 01 Aug, 2024 11:55am

Thunderstorm delays start of Olympic men’s race walk

PARIS: The start of the men’s 20-km race walk at the Paris Olympics was postponed by 30 minutes on Thursday due to...

Published 01 Aug, 2024 11:51am

China woes cut BMW’s auto profit margin in Q2

BERLIN: BMW on Thursday reported a lower-than-expected profit margin in its core automotive segment during the...

Published 01 Aug, 2024 11:34am

Volkswagen’s profit falls as restructuring, costs weigh on first half

Volkswagen on Thursday reported a 2.4% drop in its second quarter operating profit as Europe’s top automaker...

Published 01 Aug, 2024 11:32am

Daimler Truck orders fall on weakness in Europe and Asia

Second-quarter order intake at Daimler Truck fell 5% on the prior year, the firm said on Thursday, with weakening...

Published 01 Aug, 2024 11:30am

Toyota posts 17% rise in Q1 operating profit

TOKYO: Toyota Motor posted a 17% rise in first-quarter operating profit at 1.3 trillion yen ($8.70 billion) on...

Published 01 Aug, 2024 11:22am

USA

‘Is she Indian or Black?’ Trump questions Harris’ identity at Black journalists’ convention

CHICAGO/HOUSTON/HARRISBURG: US. Republican presidential candidate Donald Trump falsely suggested to the country’s...

Published 01 Aug, 2024 11:19am

Forex

Australia, NZ dollars off the floor, bonds build big rally

SYDNEY: The Australian and New Zealand dollars steadied above recent lows on Thursday as a sharp fall in US yields...

Published 01 Aug, 2024 11:16am

Stocks

Australian shares extend gains on mining and energy boost

Australian shares rose for a second straight session on Thursday in broad-based buying, with energy and mining...

Published 01 Aug, 2024 10:48am

Stocks

Asian shares extend global rally, Nikkei an outlier as yen surges

SYDNEY: Asian shares rallied on Thursday, tracking a huge revival in global tech stocks helped by Meta and Nvidia,...

Published 01 Aug, 2024 10:43am

Stocks

India’s Nifty tops 25,000 points to record highs amid Fed-inspired global rally

BENGALURU: Indian shares hit all-time highs at the open on Thursday, with the Nifty breaching the 25,000-point mark,...

Published 01 Aug, 2024 10:40am

Forex

Soft dollar keeps yen aloft as Fed hints rate cuts on the way

SINGAPORE: The US dollar on the defensive on Thursday after the Federal Reserve opened the door for an interest rate...

Published 01 Aug, 2024 10:35am

Commodities

Palm oil falls for second session as firmer ringgit, rival oils weigh

JAKARTA: Malaysian palm oil futures dropped for a second consecutive session on Thursday as a stronger ringgit and...

Published 01 Aug, 2024 10:28am

Stocks

Japanese shares tumble as yen rallies further

TOKYO: Japan’s Nikkei share average fell more than 3% in morning trade on Thursday as the yen appreciated further...

Published 01 Aug, 2024 10:24am

PM talks about plan to attract FDI for IT

Premier expresses determination to make Pakistan a leading country in domain of artificial intelligence infrastructure

Updated 01 Aug, 2024 10:21am

FAs’ hiring, other tasks: Privatisation ministry seeks a budget of Rs8.169bn

ISLAMABAD: The Ministry of Privatisation has sought a budget of Rs 8.169 billion for its privatisation-related...

Updated 01 Aug, 2024 10:21am

ADB team, BISP official discuss proposed $300m package

ISLAMABAD: The Asian Development Bank Fact-Finding Mission, Wednesday, called on Secretary Benazir Income Support...

Updated 01 Aug, 2024 10:15am

27 key points on IBIS: Wapda awards Rs21.534bn contract for telemetry system

LAHORE: The Pakistan Water and Power Development Authority (WAPDA) has awarded contract worth Rs 21.534 billion for...

Updated 01 Aug, 2024 10:04am

Russian collaboration: Feasibility study sought to set up a new steel mill

ISLAMABAD: A high level Committee, headed by the Minister for Planning, Development and Special Initiatives Ahsan...

Updated 01 Aug, 2024 10:01am

NDMA issues fresh flood advisory

ISLAMABAD: The National Disaster Management Authority (NDMA), Wednesday, issued a fresh flood advisory advising the...

Updated 01 Aug, 2024 10:00am

PD blamed for IPP agreements: Sovereign contracts cannot be opened unilaterally: Nepra

ISLAMABAD: Acknowledging difference of opinion within the authority on IPPs contracts, Nepra on Wednesday blamed the...

Updated 01 Aug, 2024 09:49am

Rs3bn more than target: Provisional collection exceeds Rs659bn in July

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected over Rs659 billion in July 2024 against...

Updated 01 Aug, 2024 09:48am

BR’s refresher: your morning briefing for the day

Important updates from July 31, 2024

Published 01 Aug, 2024 09:43am

April & June 2024: Nepra confirms overbilling by KE, other Discos

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra), on Wednesday, certified overbilling by all...

Updated 01 Aug, 2024 09:21am

Auction for serviceable old cars: No 18pc GST if tax paid at import stage: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) will not charge 18 percent sales tax on auction of serviceable old and...

Updated 01 Aug, 2024 09:20am

Govt raises Rs140bn through PIBs auction

KARACHI: The federal government on Wednesday raised some Rs 140 billion through the sale of long-term investment...

Updated 01 Aug, 2024 08:03am

TLP’s latest affront

EDITORIAL: Its dangerous rhetoric and actions ignored by the state, the religio-political outfit, Tehreek-e-Labbaik...

Updated 01 Aug, 2024 07:55am

Untangling energy crisis: the ‘misguided’ criticism of IPPs

The narrative dominating Pakistan’s discourse on electricity prices has painted Independent Power Producers (IPPs)...

Updated 01 Aug, 2024 07:52am

Effects of culture on economic outcomes

One of the recent, lesser discussed occurrences that could affect Pakistan’s future economic trajectory is the...

Updated 01 Aug, 2024 07:50am

Stability to precede growth

EDITORIAL: The Federal Minister for Finance, Muhammad Aurangzeb, while addressing the Karachi Chamber of Commerce ...

Updated 01 Aug, 2024 07:43am

And then there was one

It times of economic distress, be a motorcycle producer, a Japanese one. In the outgoing fiscal year, motorcycle...

Published 01 Aug, 2024 07:40am

Waves Corporation Limited

Waves Corporation Limited (previously known as Waves Singer Pakistan Limited) (PSX: WAVES) is incorporated in...

Published 01 Aug, 2024 07:37am

IPPs and capacity payments

Let me ask some basic questions to start the discussion. What is the main issue with the Pakistani economy? Is it...

Updated 01 Aug, 2024 07:31am

‘Textile sector exports struggle amid harsh taxation, high energy costs’

ISLAMABAD: Pakistan’s textile and clothing exports saw a slight increase of 0.93% in FY24, reaching $16.55 billion...