News Archives for Latest - 2024-08-19

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Archive - 2024-08-19

Devastating rains, floods claim over 200 lives in Pakistan

Punjab remains the most affected province with 86 deaths since July 1

Updated 19 Aug, 2024 11:47pm

Israeli strike targets Hezbollah site in Lebanon, security sources say

BEIRUT: An Israeli strike on Monday evening targeted a Hezbollah arms depot in Lebanon’s eastern Bekaa Valley, two...

Published 19 Aug, 2024 11:41pm

Europe

Germany stresses commitment to Ukraine aid despite budget cuts

BERLIN: Chancellor Olaf Scholz insisted Monday that Germany would maintain support for Ukraine’s fight against...

Published 19 Aug, 2024 11:31pm

Blinken says Netanyahu confirmed truce support, presses Hamas

TEL AVIV: US Secretary of State Antony Blinken said Monday that Israeli Prime Minister Benjamin Netanyahu assured...

Published 19 Aug, 2024 11:23pm

South Asia

Congo authorities request mpox vaccines from Japan

The Democratic Republic of the Congo (DRC) has requested Japan for supplies of mpox vaccines and syringes amid the...

Published 19 Aug, 2024 11:12pm

Europe

Zelenskiy: Ukraine controls 92 settlements in Russia’s Kursk region

President Volodymyr Zelenskiy said on Monday that Ukrainian forces controlled more than 1,250 square kilometres and...

Published 19 Aug, 2024 11:03pm

3 soldiers martyred as security forces foil infiltration attempt at Pak-Afghan border: ISPR

The military's media wing says five terrorists killed in exchange of fire

Published 19 Aug, 2024 10:49pm

Punjab govt’s electricity subsidy should be appreciated, not criticised: Atta Tarar

Minister for Information and Broadcasting responds to criticism from various political quarters over selective provision of relief

Updated 19 Aug, 2024 09:42pm

USA

Republicans launch Biden impeachment report

WASHINGTON: Congressional Republicans lodged a formal case Monday for the impeachment of US President Joe Biden,...

Published 19 Aug, 2024 09:40pm

Business & Economy

Pakistan’s current account posts deficit of $162mn in July 2024

Deficit lower on a monthly basis, but 'higher than expectations due to wider trade deficit reported by SBP'

Updated 19 Aug, 2024 09:06pm

Asia

Death toll from central China downpours rises to 50: state media

BEIJING: At least 50 people were confirmed dead on Monday following search and rescue efforts after torrential rain...

Published 19 Aug, 2024 08:09pm

Stocks

Wall St drifts higher with focus on Jackson Hole meet

Wall Street’s main stock indexes extended their gains in choppy trading on Monday after clocking their best week of...

Published 19 Aug, 2024 07:43pm

Stocks

KSE-100 falls below 78,000 as investors hunt for triggers

The KSE-100 fell below the 78,000-point mark on Monday as a positive start to the trading session made way for...

Published 19 Aug, 2024 07:24pm

Cricket

Lawrence, Potts named in England team to face Sri Lanka

England’s Dan Lawrence will open the batting in place of the injured Zak Crawley in the first Test against Sri Lanka...

Published 19 Aug, 2024 06:59pm

Exchange

Rupee registers minor gain against US dollar

Currency settles at 278.44 in inter-bank market on Monday

Updated 19 Aug, 2024 06:56pm

South Asia

Bangladesh war crimes tribunal probes cases against Hasina

DHAKA: A Bangladeshi war crimes tribunal set up by ousted premier Sheikh Hasina has launched three “mass murder”...

Published 19 Aug, 2024 06:55pm

Middle East

Hamas, Islamic Jihad claim responsibility for bomb blast in Tel Aviv

JERUSALEM: Hamas and Islamic Jihad claimed responsibility on Monday for a bomb blast near a synagogue in Tel Aviv...

Published 19 Aug, 2024 06:48pm

Stocks

Gulf bourses end mixed on US rate-cut hopes, weak oil demand

Stock markets in the Gulf ended mixed on Monday on rising expectations of a U.S. interest rate cut next month, and...

Published 19 Aug, 2024 06:40pm

Europe

Zelensky says Ukraine ‘achieving our goals’ in Kursk assault

KYIV: Ukrainian President Volodymyr Zelensky on Monday said his troops were meeting their objectives in their...

Published 19 Aug, 2024 06:26pm

Europe

Nearly 2,000 attacks on Ukrainian health services during war: WHO

COPENHAGEN: A total of 1,940 attacks on healthcare services in Ukraine have been registered since the start of...

Published 19 Aug, 2024 05:58pm

Europe

Russian FM says ‘clear’ that US ordered Nord Stream attacks

MOSCOW: Russia’s Foreign Minister Sergei Lavrov said Monday it was “clear” that the United States had ordered the...

Published 19 Aug, 2024 05:56pm

Stocks

Markets split as traders prepare for Powell speech

PARIS: Stock markets diverged Monday following last week’s strong performance, as traders await a meeting of central...

Updated 19 Aug, 2024 05:54pm

IHC bars trial court from issuing final verdict in £190 million case

The Islamabad High Court (IHC) on Monday temporarily stopped the trial court from announcing its final verdict in...

Published 19 Aug, 2024 05:39pm

Europe

Germany ‘fully committed’ to Ukraine aid: govt spokesman

BERLIN: A government spokesman on Monday insisted that Germany would continue to supply necessary aid to support...

Published 19 Aug, 2024 05:22pm

Europe

Russia says captured ‘major’ settlement in Ukraine’s Donetsk region

MOSCOW: Russia on Monday said its troops captured a “major” settlement in Ukraine’s eastern Donetsk region, where...

Published 19 Aug, 2024 05:19pm

Pakistan confirms mpox case is not new strain

ISLAMABAD: A case of mpox in Pakistan announced last week was not the new strain spreading through Africa, health...

Published 19 Aug, 2024 05:02pm

Stocks

Indian shares flat as financials offset gains in energy, metals

BENGALURU: Indian shares closed flat on Monday, as gains in energy and metals stocks, on a cut in windfall tax on...

Published 19 Aug, 2024 04:52pm

Movies & Music

Hollywood stars to add sizzle to Democrats’ convention

LOS ANGELES: A month after turning its back on the Democrats, Hollywood is sending star power to the party’s...

Published 19 Aug, 2024 04:49pm

Money & Banking

Pakistan’s REER index increases to 101.5 in July 2024

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 19 Aug, 2024 04:49pm

Commodities

China demand hopes, lower dollar lift copper prices

LONDON: Copper prices scaled 2-1/2 week highs on Monday with buying spurred by signs of improving demand in top...

Published 19 Aug, 2024 04:48pm

Commodities

Palm oil rises on bargain-hunting

JAKARTA: Malaysian palm oil futures recovered on Monday, paring some losses in the previous session on bargain...

Published 19 Aug, 2024 04:45pm

Business & Economy

Last two years worse in Pakistan’s economic history: Atif Mian

Country stuck in ‘poverty trap’, needs ‘big policy change’, says noted economist

Updated 19 Aug, 2024 04:40pm

Companies

Chakwal Spinning to set up data centre, cloud operations in Pakistan

The management of Chakwal Spinning Mills Limited (CLOUD) has signed the term sheet for investment of Rs7.784 billion...

Updated 19 Aug, 2024 04:37pm

Energy

Pakistan Oilfields announces significant hydrocarbon find in Khyber Pakhtunkhwa

Pakistan Oilfields Limited (POL), an oil and gas exploration company, announced further testing results from the...

Updated 19 Aug, 2024 04:35pm

YouTuber Aun Ali Khosa returns home: lawyer

Known for his satirical take on Pakistan’s political and economic situation, Aun was allegedly abducted on August 15

Updated 19 Aug, 2024 04:35pm

SC bars IHC from further proceedings in audio leaks case

Suspends the Islamabad High Court's orders

Updated 19 Aug, 2024 04:30pm

Energy

Oil price dip keeps Brent below $80 on China demand woes

LONDON: Oil prices eased on Monday, with Brent holding below $80 as concern over demand in top oil importer China...

Updated 19 Aug, 2024 03:09pm

Asia

China says Premier Li Qiang to visit Russia, Belarus this week

BEIJING: Chinese Premier Li Qiang will visit Russia and Belarus this week, Beijing’s foreign ministry said on...

Published 19 Aug, 2024 02:46pm

Companies

TMC aims to propel Pakistan’s digital transformation with SAP BTP

Businesses in Pakistan can now unlock new potential and simplify operations with the SAP Business Technology...

Updated 19 Aug, 2024 02:35pm

South Asia

Indian medics refuse to end protests over doctor’s rape and murder

KOLKATA: Thousands of Indian junior doctors on Monday refused to end protests over the rape and murder of a fellow...

Published 19 Aug, 2024 02:03pm

Mutual Funds

Euro zone yields edge down, markets cautious before economic data

Euro zone government bond yields fell on Monday as investors braced for a week packed with economic data and a...

Published 19 Aug, 2024 02:01pm

Pat Cummins expects bigger roles for Green, Marsh in India series

Australia captain Pat Cummins said he expects to lean a bit more heavily on all-rounders Cameron Green and Mitchell...

Published 19 Aug, 2024 01:59pm

Forex

South African rand dips ahead of inflation data this week

JOHANNESBURG: The South African rand was slightly weaker in early trading on Monday, after gaining last week, ahead...

Published 19 Aug, 2024 01:32pm

Stocks

London’s FTSE 100 slips, but US rate-cut optimism limits losses

London stocks kick-started the week on a lacklustre tone, weighed down by aerospace and defence shares, although...

Published 19 Aug, 2024 01:28pm

Forex

Russian rouble trade stabilises after turbulence

MOSCOW: The Russian rouble weakened slightly against the dollar on Monday, stabilising after a roughly 9% fall that...

Published 19 Aug, 2024 01:24pm

Commodities

Ukraine 2024 soybean harvest forecast at a record 5.7mn T, says ASAP Agri

KYIV: Ukraine is likely to harvest a record 5.7 million metric tons of soybeans in 2024 thanks to a larger than...

Published 19 Aug, 2024 01:22pm

MENA

Small-scale to eyeing international markets: Sadaf Khan’s Pakistani fashion brand flourishes in Dubai

DUBAI: Sadaf M. Khan, the managing director and founder of Boulevard One, has successfully turned her vision of...

Updated 19 Aug, 2024 01:11pm

Commodities

Gold price per tola decreases Rs200 in Pakistan

After hitting record highs in the previous session, gold prices in Pakistan declined on Monday in line with the drop...

Published 19 Aug, 2024 12:54pm

Aryna Sabalenka ousts No.1 Swiatek to reach Cincinnati final against Pegula

CINCINNATI: Aryna Sabalenka squandered nine match points but defeated world number one Iga Swiatek 6-3, 6-3 on...

Published 19 Aug, 2024 12:15pm

Antonio Conte apologises for Napoli’s opening day ‘debacle’ at Verona

MILAN: Antonio Conte apologised to Napoli fans after Sunday’s 3-0 humiliation at Verona in his first Serie A match...

Published 19 Aug, 2024 12:13pm

USA

UN warns of ‘unacceptable’ level of violence against aid workers

UNITED NATIONS: The United Nations on Monday condemned the “unacceptable” level of violence becoming commonplace...

Published 19 Aug, 2024 12:11pm

Kylian Mbappe and Madrid denied in Mallorca draw

PALMA: Kylian Mbappe was left frustrated on his Real Madrid La Liga debut on Sunday as a resilient Real Mallorca...

Published 19 Aug, 2024 12:07pm

Hideki Matsuyama survives wobble to clinch St. Jude Championship

WASHINGTON: Hideki Matsuyama survived a back nine near-collapse to recover and win the PGA Tour’s St Jude...

Published 19 Aug, 2024 12:06pm

USA

Kamala Harris arrives in Chicago to star at Democratic convention

CHICAGO: Kamala Harris arrived in Chicago on Sunday ahead of her star turn at the Democratic National Convention,...

Published 19 Aug, 2024 12:04pm

Asia

Indonesia leader to reshuffle cabinet weeks before leaving office

JAKARTA: Indonesian President Joko Widodo will reshuffle his cabinet on Monday just weeks before he steps down in an...

Published 19 Aug, 2024 11:58am

MENA

Antony Blinken says ‘decisive moment’ for Gaza ceasefire talks

TEL AVIV: US Secretary of State Antony Blinken on Monday called the latest diplomatic push by Washington to achieve...

Published 19 Aug, 2024 11:31am

South Asia

India PM Modi to visit Ukraine, foreign ministry says

NEW DELHI: Indian Prime Minister Narendra Modi will visit Ukraine, the Indian foreign ministry said on Monday, his...

Published 19 Aug, 2024 11:22am

Australia’s Westpac at over 6-year high on profit beat, better cost control

Australia’s Westpac Banking Corp beat analyst forecasts for third-quarter profit on Monday and reported improved net...

Published 19 Aug, 2024 11:14am

Stocks

Australian shares subdued as tepid miners counter banks, gold boost

Australian shares were largely flat on Monday, as downbeat performances in most sectors partially offset support...

Published 19 Aug, 2024 11:12am

CA chief calls on Queensland to invest in stadium after Gabba snub

Cricket Australia chief executive Nick Hockley has called on the Queensland government to invest in a fit for...

Published 19 Aug, 2024 11:07am

Commodities

Copper climbs as US recession fears fade, China inventories decline

BEIJING: Copper prices rose on Monday, as fears of a US recession faded following a batch of strong data last week...

Published 19 Aug, 2024 11:04am

Jannik Sinner tops Alexander Zverev to reach Cincinnati Open final

Italian world number one Jannik Sinner shook off a second-set blip to beat Germany’s Alexander Zverev 7-6(9) 5-7...

Published 19 Aug, 2024 11:01am

Mutual Funds

India bond yields may ease tracking US peers; fresh cues eyed

MUMBAI: Indian government bond yields may ease in opening trade on Monday, tracking US peers, amid lack of fresh...

Published 19 Aug, 2024 10:54am

Forex

Australian dollar at month high buoyed by risk appetite, kiwi firmer

SYDNEY: The Australian dollar climbed to a one-month high on Monday, underpinned by buoyant risk appetite and...

Published 19 Aug, 2024 10:52am

Forex

Indian rupee higher on rally in peers; Jackson Hole in focus this week

MUMBAI: The Indian rupee is expected to open higher on Monday, boosted by a broad decline in the US dollar amid...

Published 19 Aug, 2024 10:50am

Stocks

Japan’s Nikkei trades lower after five straight sessions of gains

TOKYO: Japan’s Nikkei share average inched down on Monday after its five-day winning streak, but the index recouped...

Published 19 Aug, 2024 10:47am

Commodities

Palm extends losses on stronger ringgit, weaker Dalian oils

JAKARTA: Malaysian palm oil futures fell for a second session on Monday, as traders gauged weakness in Dalian...

Published 19 Aug, 2024 10:44am

Asia

China and Vietnam’s top leaders meet in Beijing

BEIJING: China’s President Xi Jinping held talks on Monday with Vietnam’s new leader To Lam in Beijing on his first...

Published 19 Aug, 2024 10:41am

Bullion Rate

Gold trades near historic $2,500 mark on Fed rate-cut optimism

Gold prices eased on Monday and hovered around key $2,500 level, as traders locked in profits following bullion’s...

Published 19 Aug, 2024 10:36am

Forex

Yuan creeps higher as dollar wobbles ahead of Jackson Hole

SINGAPORE: The yuan gained on Monday along with other Asian currencies as investors wagered that US rate cuts will...

Published 19 Aug, 2024 10:33am

Europe

Ukraine says it has destroyed another bridge in Russia’s Kursk region

KYIV: Ukrainian air forces destroyed another strategic bridge over the Seym River in Russia’s Kursk region, limiting...

Published 19 Aug, 2024 10:31am

Commodities

Dalian iron ore hits one-year low on weakening steel market

SINGAPORE: Dalian iron ore futures prices slid to a one-year low on Monday, as a weakening steel market in top...

Published 19 Aug, 2024 10:24am

Goldman Sachs lowers odds of US recession to 20% from 25%

Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months to 20% from...

Published 19 Aug, 2024 10:22am

Stocks

Asia shares underpinned, dollar undermined by dovish Fed wagers

SYDNEY: Asian stocks edged up and the dollar slid on Monday after global equities enjoyed their best week in nine...

Published 19 Aug, 2024 10:20am

Pakistan’s power system: challenges and solutions

The current high cost of electricity in Pakistan has undoubtedly hurt domestic, commercial, and household...

Updated 19 Aug, 2024 10:18am

Asia

Philippines detects first mpox case this year, yet to determine strain

MANILA: The Philippines has detected a new case of the mpox virus in the country, the first since December last...

Published 19 Aug, 2024 10:16am

Commodities

China’s coal output rises as share of electricity slips: Russell

LAUNCESTON: China’s production of coal is rising while its share of electricity generation is declining, a seeming...

Published 19 Aug, 2024 10:12am

Stocks

Indian shares rise led by energy stocks

BENGALURU: Energy stocks lifted Indian shares higher on Monday after a cut in windfall tax on crude, while other...

Published 19 Aug, 2024 10:07am

Europe

Ukraine repels Russia’s air attack, including on Kyiv, Ukraine’s air force says

KYIV: Ukraine’s air defence units repelled Russia’s overnight air attack, including on Kyiv, destroying all 11...

Published 19 Aug, 2024 10:04am

Mutual Funds

JGB yields rise as investors continue to shake off US recession fears

TOKYO: Japanese government bond (JGB) yields rose on Monday, as investors continued to unwind positions taken up in...

Published 19 Aug, 2024 10:02am

Forex

Dollar falls on bets for dovish Fed

SINGAPORE: The US dollar declined broadly on Monday and slid against the yen in particular as investors bet on a...

Published 19 Aug, 2024 09:57am

Government all set to redefine load-shedding

Finance Division asks Power Division to share views of Nepra and NTDC on the proposed amendments on revenue-based load shedding

Updated 19 Aug, 2024 09:37am

Rs45bn granted from Punjab budget to give relief: Marriyum

LAHORE: Former prime minister and President of Pakistan Muslim League (N), Nawaz Sharif, has announced the largest...

Updated 19 Aug, 2024 09:35am

Use of VPNs slowed down internet: govt

ISLAMABAD: What appears to be a revelation, State Minister for Information Technology and Telecommunication Shaza...

Updated 19 Aug, 2024 09:34am

SCA approaches PM against rising tractor prices

ISLAMABAD: Sindh Chamber of Agriculture (SCA) has approached Prime Minister Shehbaz Sharif against abnormal increase...

Updated 19 Aug, 2024 09:33am

Governor urges CM to offer Punjab-like power bill relief

KARACHI: Sindh Governor Kamran Tessori on Sunday called on Chief Minister Murad Ali Shah to offer a subsidy on...

Updated 19 Aug, 2024 09:31am

Power theft: PM asks provinces to support Discos

ISLAMABAD: Faced with the colossal challenge of prevalent power theft in the country, Prime Minister Shehbaz Sharif...

Updated 19 Aug, 2024 09:30am

KP PA proceedings adjourned till 26th

PESHAWAR: The Khyber Pakhtunkhwa Assembly proceedings have been adjourned till Monday August 26, at 2pm due to...

Updated 19 Aug, 2024 08:46am

President for enhancing national forest coverage

KARACHI: President Asif Ali Zardari on Sunday called for enhancing the national forest coverage by planting more...

Updated 19 Aug, 2024 08:46am

Trade with Russia: SBP asked to streamline transaction settlement

ISLAMABAD: A high level committee on Russia, headed by Minister for Planning, Development and Special Initiatives...

Updated 19 Aug, 2024 08:44am

SC delists election tribunal case

ISLAMABAD: The Supreme Court of Pakistan on Sunday delisted the election tribunal case. A five-member bench, headed...

Updated 19 Aug, 2024 08:43am

22 die; roads washed away, crops destroyed

ISLAMABAD: As many as 22 people have so far lost their lives while water levels in rivers have risen and streams and...

Updated 19 Aug, 2024 08:43am

BR’s refresher: your morning briefing for the day

Important updates from August 17 and August 18, 2024

Published 19 Aug, 2024 08:41am

Petroleum imports snapshot

The previous fiscal year, FY23, witnessed a slump in petroleum product imports as the demand for petroleum products...

Published 19 Aug, 2024 07:49am

Towellers Limited

Towellers Limited (PSX: TOWL) was incorporated in Pakistan as a private limited company in 1973 and was converted...

Published 19 Aug, 2024 07:38am

Trickling down

Amid surge pricing, cement demand cannot help but respond. Higher and fresh taxes introduced in the budget have sent...

Published 19 Aug, 2024 07:42am

Digital dilemma: building a firewall against growth

In today’s world, internet connectivity is as essential as electricity or running water. Remarkably, it remains one...