News Archives for Latest - 2024-08-16

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Archive - 2024-08-16

Some women are breaking cultural barriers in Pakistan

Discover how a team of female 'social mobilisers' are helping rural farming communities in Pakistan thrive by educating and empowering the women of the household

Published 16 Aug, 2024 11:40pm

COAS appreciates Arshad Nadeem’s remarkable achievement at Paris Olympics

Chief of Army Staff (COAS) General Syed Asim Munir on Friday appreciated Arshad Nadeem’s remarkable achievement of...

Updated 16 Aug, 2024 11:11pm

Exchange

Rupee registers marginal gain against US dollar

Currency settles at 278.54 against the greenback in inter-bank market

Updated 16 Aug, 2024 11:08pm

Hamas rejects ‘new conditions’ in proposed Gaza deal: officials to AFP

Hamas will not accept “new conditions” from Israel in a proposal put forward during talks in Doha aimed at sealing a...

Published 16 Aug, 2024 10:35pm

South Asia

Bangladesh’s Yunus calls India PM Modi, assures him of safety of Hindus

NEW DELHI: Indian Prime Minister Narendra Modi said on Friday that he received a phone call from the head of...

Updated 16 Aug, 2024 10:27pm

Mpox virus: 3 cases detected in Pakistan

KPK health department says virus detected in patients on arrival from the United Arab Emirates

Updated 16 Aug, 2024 10:22pm

UN calls Israeli settler attack in West Bank ‘horrific’

GENEVA: The United Nations on Friday said a deadly Israeli settler attack on a Palestinian village in the occupied...

Published 16 Aug, 2024 10:16pm

Stocks

Unilever Pakistan Foods’ profit-after-tax declines 27% to Rs3.8bn in H1CY24

Unilever Pakistan Foods Limited (UPFL), a subsidiary of Conopco Inc. USA, saw a significant decline of 27% in its...

Updated 16 Aug, 2024 10:11pm

Islamabad says no talks under way with India on bilateral trade

Pakistan formally suspended trade with India in 2019 in reaction to New Dehli’s decision to revoke Article 370 of its constitution that granted occupied Kashmir a special status.

Published 16 Aug, 2024 09:42pm

Stocks

KSE-100 closes marginally lower as late-session selling wipes out gains

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index on Friday began trading on a higher note, adding more...

Updated 16 Aug, 2024 08:38pm

Up to 500 units: Nawaz says Punjab govt to reduce province’s power tariff by Rs14 per unit for Aug-Sept

Also announces Rs700bn package for solar panels

Updated 16 Aug, 2024 08:36pm

Business & Economy

Authority says Pakistan’s new Special Technology Zone will boost tech exports by $350mn

In an attempt to enhance exports, Pakistan has established four Special Technology Zones (STZs) in Punjab, with the...

Updated 16 Aug, 2024 08:34pm

Companies

MNCs planning to relocate from Pakistan amid Internet disruptions, says PBC

The Pakistan Business Council (PBC), the country’s leading corporate advocacy platform, warned on Friday that many...

Updated 16 Aug, 2024 08:20pm

Companies

Electric vehicles: Master Changan unveils Deepal L07, S07 with prices starting Rs15.5mn

KARACHI: Master Changan Motors Limited has unveiled its electric vehicle brand in Pakistan, launching the Deepal L07...

Updated 16 Aug, 2024 08:18pm

Middle East

Israeli army orders fresh evacuations in Gaza as fighting continues

CAIRO/JERUSALEM: The Israeli army ordered people in south and central Gaza areas it had previously designated...

Published 16 Aug, 2024 08:05pm

Stocks

Wall St slips after S&P, Nasdaq’s six-day winning run, soft housing data

Wall Street’s main indexes slipped on Friday following the S&P 500 and the Nasdaq’s six-day winning streaks...

Published 16 Aug, 2024 07:54pm

South Asia

India’s Modi offers ‘support’ to Bangladesh’s Yunus

NEW DELHI: Indian Prime Minister Narendra Modi offered on Friday support to the interim leader of neighbouring...

Published 16 Aug, 2024 07:00pm

Middle East

Israel FM says expects allies to attack Iran if it strikes

JERUSALEM: Israeli Foreign Minister Israel Katz told his French and British counterparts Friday that his country...

Published 16 Aug, 2024 06:52pm

Stocks

UAE equities gain amid global rally on rate optimism

Stock markets in the United Arab Emirates edged higher on Friday as investor sentiment was bolstered by encouraging...

Published 16 Aug, 2024 06:30pm

Europe

Russia says Ukraine hit shopping centre in aerial strike

MOSCOW: Russian-installed officials on Friday said Kyiv’s army hit a shopping centre in the Moscow-controlled part...

Published 16 Aug, 2024 05:50pm

Europe

EU’s top diplomat to propose sanctioning Israeli officials over ‘violent settlers’

BRUSSELS: The EU’s top diplomat Josep Borrell said Friday he would propose sanctions against Israeli government...

Published 16 Aug, 2024 05:44pm

Money & Banking

India’s foreign exchange reserves come off record highs

MUMBAI: India’s foreign exchange reserves came off record highs and fell to $670.12 billion as of Aug. 9, the...

Published 16 Aug, 2024 05:21pm

Energy

Global LNG: Asia spot prices rise to 8-month top amid hot weather demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose to their highest in over eight months, with warmer...

Published 16 Aug, 2024 05:16pm

Energy

Oil prices fall more than 1% on China worries

Oil prices fell by more than $1 on Friday, with Brent slipping below $80 a barrel after a string of dismal...

Updated 16 Aug, 2024 05:12pm

Stocks

IT powers Indian shares to first weekly gain in three as US recession fears wane

BENGALURU: Indian shares snapped a two-week losing streak on Friday led by information technology stocks, after firm...

Published 16 Aug, 2024 05:08pm

Commodities

Supply risks set copper on track for first weekly gain in six

LONDON: Copper prices were heading for the first weekly gain in six weeks in London on Friday supported by worries...

Published 16 Aug, 2024 05:05pm

Commodities

Palm oil reverses gains on weaker exports and rival oils; posts weekly loss

SINGAPORE: Malaysian palm oil futures reversed early gains on Friday to log a fourth consecutive weekly loss, as...

Published 16 Aug, 2024 05:03pm

Companies

EPCL suffers loss of Rs688mn in 2QCY24

Engro Polymers and Chemicals Limited (EPCL), a subsidiary of Engro Corporation Limited, sustained losses to the tune...

Published 16 Aug, 2024 05:03pm

Companies

Attock Cement receives $5.85mn from sale of SAKCPCL shares

Attock Cement Pakistan Limited (ACPL), a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon, has...

Published 16 Aug, 2024 05:01pm

Companies

Bisconni CEO Hamid M. Ismail announces launch of Ismail Global

Hamid M. Ismail, CEO of Bisconni & Executive Director of Ismail Industries, has announced the launch of Ismail...

Published 16 Aug, 2024 04:31pm

‘Monsoon brides’: extreme weather fuels Pakistan child marriages

DADU: As monsoon rains were about to break over Pakistan, 14-year-old Shamila and her 13-year-old sister Amina were...

Published 16 Aug, 2024 04:24pm

Two police personnel among five injured in Peshawar blast

Police starts investigation

Updated 16 Aug, 2024 04:12pm

External debt-to-GDP ratio hits 6-year low

KARACHI: Pakistan’s external debt to GDP ratio fell to 6 years low, ie, 26 percent at the end of the last fiscal...

Updated 16 Aug, 2024 03:15pm

Appointments of CEO, CFO, CIA and CS: MoF conveys to line ministries and SOEs the guidelines

ISLAMABAD: The Finance Ministry has conveyed to all line ministries and federal state-owned enterprises guidelines...

Updated 16 Aug, 2024 03:15pm

ECC says relief package through USC to continue

Declares warehousing and logistic sector as an industry

Updated 16 Aug, 2024 03:10pm

South Asia

‘Strong indications’ Bangladesh security forces used ‘unnecessary’ force: UN

GENEVA: The United Nations said Friday there were strong indications that the Bangladeshi security forces used...

Published 16 Aug, 2024 03:09pm

Forex

Kenyan shilling stable but traders see FX demand picking up

NAIROBI: Kenya’s shilling was stable against the US dollar on Friday, but traders said they expected it to come...

Published 16 Aug, 2024 02:57pm

Slot happy with strong Liverpool squad ahead of his first Premier League game

Arne Slot was not able to sign some of the players he wanted ahead of his first Premier League game as Liverpool...

Published 16 Aug, 2024 02:55pm

Travel

Extreme weather drives travelers to cooler destinations this summer

NEW YORK/LONDON/ATHENS: Florida resident Kathy Pafunda is reading books and perusing maps to plan a Norway getaway...

Published 16 Aug, 2024 02:52pm

Asia

6.1-magnitude earthquake shakes Taiwan

TAIPEI: A 6.1-magnitude earthquake struck off Taiwan’s east coast Friday morning, the United States Geological...

Published 16 Aug, 2024 02:07pm

Commodities

Gold price per tola increases Rs300 in Pakistan

After a dip in the previous session, gold prices in Pakistan increased on Friday in line with the gain in the...

Published 16 Aug, 2024 02:04pm

Movies & Music

Two doctors among five people charged in ‘Friends’ star Matthew Perry’s death

LOS ANGELES: Two doctors and three others including a personal assistant to Matthew Perry have been charged with...

Published 16 Aug, 2024 02:03pm

USA

Kamala Harris to unveil plan for US economy in major policy rollout

RALEIGH: Kamala Harris is expected to take on companies unfairly jacking up prices as she sets out her economic...

Published 16 Aug, 2024 02:01pm

Europe

Pilot killed in Russia military plane crash

MOSCOW: One pilot was killed and three injured when a Russian fighter plane crashed during a training flight over...

Published 16 Aug, 2024 01:56pm

Stocks

European stock markets diverge at open

LONDON: Europe’s main stock markets opened mixed Friday after strong gains in Asia and on Wall Street. London’s FTSE...

Published 16 Aug, 2024 01:53pm

China’s Olympic tennis glory tracks booming middle classes

BEIJING: Zheng Qinwen’s historic tennis gold at the Paris Olympics this month followed a decades-long surge in the...

Published 16 Aug, 2024 01:51pm

Stocks

Equities surge on strong US consumer data

HONG KONG: Japanese stocks surged and markets elsewhere in Asia strengthened on Friday, tracking substantial gains...

Published 16 Aug, 2024 01:45pm

Commodities

Soybeans fall, set for third week of losses on record US output

SINGAPORE: Chicago soybeans fell on Friday, with the market set for its third weekly drop on pressure from...

Published 16 Aug, 2024 12:38pm

Commodities

Copper set for first weekly gain in six on supply risks, US data

Copper prices were set on Friday for their first weekly gain in six, buoyed by mine supply worries and encouraging...

Published 16 Aug, 2024 12:35pm

Mutual Funds

India bond yields may rise tracking US peers; debt sale eyed

MUMBAI: Indian government bond yields are expected to rise in opening trades on Friday, tracking US peers, after...

Published 16 Aug, 2024 11:59am

Ben Shelton faces down match point, advances at Cincinnati

Open Ben Shelton, the 12th seed, survived a match point and battled for nearly three hours to defeat Tomas Martin...

Published 16 Aug, 2024 11:51am

Commodities

Palm oil gains on strong India demand, but set for fourth weekly drop

SINGAPORE: Malaysian palm oil futures rose on Friday, buoyed by upbeat demand from top importer India and reduced...

Published 16 Aug, 2024 11:33am

Energy

India’s IOC buys 3mn bbls Oct-loading Murban crude, sources say

SINGAPORE: Indian Oil Corp has purchased 3 million barrels of Abu Dhabi Murban crude for October loading via a...

Published 16 Aug, 2024 11:27am

South Asia

Indian doctors call for nationwide shutdown after brutal rape of medic

MUMBAI: Anger over the brutal rape and murder of a doctor in eastern India showed no signs of dying down on Friday,...

Published 16 Aug, 2024 11:06am

Thank you and congratulations, Pakistan

What does it say about any person at the helm of Pakistan’s fiscal affairs when the Business Confidence Survey –...

Updated 16 Aug, 2024 10:57am

Asia

Malaysia PM says to increase pay for govt workers from December

KUALA LUMPUR: Malaysia will switch to a new public service compensation scheme from Dec 1 that will see broad pay...

Published 16 Aug, 2024 10:53am

Asia

China will support a democratic transition in Myanmar, says foreign minister

CHIANG MAI: China will support a democratic transition in Myanmar and backs a regional plan to find a way out of the...

Published 16 Aug, 2024 10:50am

Stocks

Indian shares advance as US data quells recession fears

BENGALURU: Indian shares rose on Friday, led by information technology stocks, after firm US economic data allayed...

Published 16 Aug, 2024 10:47am

Europe

Russian MP says Ukrainian incursion could lead to global war, RIA reports

A Russian parliamentary deputy said on Friday that the Western-backed Ukrainian incursion has brought the world...

Published 16 Aug, 2024 10:35am

Bullion Rate

Asia Gold: High prices keep buyers on sidelines in key hubs

Gold dealers in India were forced to offer discounts this week as a recent price increase dampened retail purchases,...

Published 16 Aug, 2024 10:32am

Stocks

Tech shares drive Hong Kong stocks higher; China stocks flat

SHANGHAI: Tech shares drove Hong Kong stocks higher on Friday, after earnings release by e-commerce giants helped...

Published 16 Aug, 2024 10:25am

Forex

China’s yuan steady after dollar rebound

SHANGHAI: China’s yuan steadied against the dollar on Friday after sliding overnight as the greenback benefited from...

Published 16 Aug, 2024 10:22am

Forex

Australian dollar sets for strong weekly gain, kiwi lags

SYDNEY: The Australian dollar was set for a strong weekly gain on Friday, buoyed by hawkish expectations for...

Published 16 Aug, 2024 10:18am

Stocks

Australia shares jump as strong US data calms recession fears

Australian shares climbed in a broad-based rally on Friday, tracking strong gains on Wall Street overnight after...

Published 16 Aug, 2024 10:12am

Stocks

Japan’s Nikkei jumps as US retail sales data soothes recession fears

TOKYO: Japan’s Nikkei share average climbed nearly 3% on Friday and was set for its best week in more than four...

Published 16 Aug, 2024 10:08am

Forex

Dollar firm after US data quells recession fears

TOKYO: The dollar hovered near a two-week high to the yen after its biggest one-day gain against major peers in four...

Published 16 Aug, 2024 09:53am

Cases of telecom operators: President upholds FTO’s decision

ISLAMABAD: President Asif Ali Zardari has upheld the decision of Federal Tax Ombudsman (FTO) regarding cases of...

Updated 16 Aug, 2024 09:33am

Internet slowdown: ministry, PTA fail to satisfy Senate body

ISLAMABAD: Amid fear of billions of losses on account of slowdown of internet services in the country, the Ministry...

Updated 16 Aug, 2024 09:30am

Auction for Ijarah Sukuk: PSX raises Rs119bn against Rs100bn target

KARACHI: Pakistan Stock Exchange (PSX) has raised Rs 119 billion against a target of Rs 100 billion for Ministry of...

Updated 16 Aug, 2024 09:13am

PIACL debt restructuring: Fair value impact to be recognised on PIAHCL portfolio as per IFRS-9: SBP

KARACHI: In order to facilitate banks in executing the PIACL debt restructuring transaction, the State Bank of...

Updated 16 Aug, 2024 09:13am

Plan urbanisation, optimise development: ADB

ISLAMABAD: Planning and managing urbanisation are critical for Pakistan to optimise socioeconomic development, says...

Updated 16 Aug, 2024 09:11am

NA Speaker abolishes 220 ‘redundant’ posts

ISLAMABAD: The National Assembly speaker has set a target of saving Rs1 billion annually in the budget of the...

Updated 16 Aug, 2024 09:11am

Filed on behalf of Star Hydro: Nepra returns CPPA-G’s tariff revision plea

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has returned CPPA-G’s tariff modification...

Updated 16 Aug, 2024 09:10am

Shehbaz govt may follow IK admin’s lead on IPPs

ISLAMABAD: Prime Minister Shehbaz Sharif-led government is reportedly opting to go the same route as Imran Khan...

Updated 16 Aug, 2024 08:42am

BR’s refresher: your morning briefing for the day

Important updates from August 15, 2024

Published 16 Aug, 2024 08:40am

Industry

NA body forms sub-committee to address PSM matters

ISLAMABAD: The National Assembly (NA) Standing Committee on Industries and Production has constituted a four members...

Updated 16 Aug, 2024 08:33am

CPEC should be turned into model green BRI project: PCJCCI

LAHORE: Moazzam Ghurki, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) stated that GREEN ...

Published 16 Aug, 2024 08:31am

Threats emanating from terrorist groups highlighted

ISLAMABAD: Experts on Afghan affairs on Thursday warned against the threats emanating from transnational terrorist...

Updated 16 Aug, 2024 08:31am

More services to be added to ‘Maryam Ki Dastak’, says PITB chairman

LAHORE: Punjab Information Technology Board (PITB) Chairman Faisal Yousaf has said that by the end of this year, ...

Updated 16 Aug, 2024 08:28am

PSC calls for overhauling seed approval system

LAHORE: Participants of the 59th meeting of the Punjab Seed Council (PSC) on Thursday called for overhauling the ...

Updated 16 Aug, 2024 08:27am

Nationwide tree-plantation drive launched

LAHORE: Punjab Horticultural Authority (PHA), Capital Development Authority (CDA) Islamabad and Cheezious, a Proud...

Published 16 Aug, 2024 08:25am

Taxes

Tax dept has taxed entire undeclared sales shown under ‘amnesty’

LAHORE: The sales tax department has taxed the entire undeclared sales shown in amnesty after the taxpayer failed to...

Published 16 Aug, 2024 08:24am

Huzaifa earns victory at ‘Japan Junior Open Squash 2024’

LAHORE: Pakistan’s rising squash sensation, Huzaifa Shahid, continues to make waves on the international stage,...

Updated 16 Aug, 2024 08:23am

Mpox: Punjab govt issues alert

LAHORE: The Punjab health department has issued an alert about monkeypox across the province after the World Health...

Updated 16 Aug, 2024 08:22am

WCLA launches electric-cart service for tourists

LAHORE: The Walled City of Lahore Authority (WCLA) on Thursday launched electric carts service for the tour of ...

Published 16 Aug, 2024 08:22am

Hazrat Shah Abdul Latif Bhittai: Auqaf secy visits shrine

HYDERABAD: Provincial Secretary Awqaf, Farrukh Shehzad Qureshi, made a surprise visit to the Hazrat Shah Abdul Latif...

Updated 16 Aug, 2024 08:21am

Population growth contributes to pollution, biodiversity loss: PPWD

LAHORE: Pakistan needs to improve access to family planning resources and education with public support to cope with...

Updated 16 Aug, 2024 08:13am

Several options for settlement of outstanding amounts against LDI operators under study

ISLAMABAD: The government is contemplating upon several options on settlement of outstanding amounts of around...

Updated 16 Aug, 2024 08:09am

Companies

Sector’s competitiveness getting affected with internet disruptions: IT firm CEO

Pakistan’s IT sector is grappling with severe internet disruptions that pose a significant threat to the country’s...

Published 16 Aug, 2024 08:00am

Petroleum Levy: Two months of opportunity loss

The Prime Minister showered people with an Independence Day gift, postponing the petroleum price revision by 48...

Published 16 Aug, 2024 07:35am

Cotton import: all set to double again?

Post-flood alluvial soils, favorable weather, and a dramatic recovery in acreage. During the last financial year,...

Published 16 Aug, 2024 07:32am

Letters

Arrest of Lt-Gen Faiz (retd): What’s next?

The arrest news of Faiz Hameed and court martial proceedings against the former DG, ISI, and Corps Commander ...

Updated 16 Aug, 2024 07:28am

Pakistan Hotels Developers Limited

Pakistan Hotels Developers Limited (PSX: PHDL) was incorporated as a private limited company in Pakistan in 1979 as...

Published 16 Aug, 2024 07:28am

PARTLY FACETIOUS: There are the elites who do a good lobbying job for their own interest

“So the Omni guy Majeed has been given a national award.” “Not yet, but yes he is on the list.” “And the...

Updated 16 Aug, 2024 07:19am

Support to productive sectors: repercussions

EDITORIAL: Prime Minister Shehbaz Sharif has expressed his administration’s determination to extend the utmost...