News Archives for Latest - 2024-09-12

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Archive - 2024-09-12

Israel intelligence unit chief quits over October 7 failure

JERUSALEM: The Israeli army said on Thursday that the head of an elite intelligence unit will resign over the...

Published 12 Sep, 2024 11:12pm

Europe

Long-range arms OK would put NATO at ‘war with Russia’: Putin

MOSCOW: Russian President Vladimir Putin said Thursday that the West letting Kyiv use longer-range weapons to strike...

Published 12 Sep, 2024 11:03pm

Europe

Turkey probing killing of activist in occupied West Bank

ANKARA: Turkey is investigating the killing of a US-Turkish activist during a protest in the West Bank, the justice...

Published 12 Sep, 2024 10:56pm

Pakistan condemns air strikes by Israeli occupation forces on Al Mawasi humanitarian zone

Pakistan condemned on Thursday the air strikes by Israeli occupation forces on the Al Mawasi humanitarian zone in...

Updated 12 Sep, 2024 10:55pm

Forex

SBP-held foreign exchange reserves increase $30mn, now stand at $9.47bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million on a weekly basis,...

Updated 12 Sep, 2024 10:54pm

Business & Economy

Most aggressive cut since April 2020: SBP reduces key policy rate by 200bps, brings it down to 17.5%

Pace of disinflation exceeded earlier expectations, says central bank
The previous occasion SBP moved with this quantum of reduction was in April 2020

Updated 12 Sep, 2024 10:54pm

Business & Economy

IMF executive board to discuss Pakistan programme on September 25: spokesperson

SBP governor says govt has arranged external financing commitments

Updated 12 Sep, 2024 10:53pm

Sindh govt bans pillion riding for five days

The Sindh government has imposed a ban on pillion riding on motorcycles in various cities, including Karachi, in...

Published 12 Sep, 2024 10:49pm

‘Chup Tazia’: road closure, traffic diversion plan in Karachi for Friday

The Karachi Traffic Police has issued the plan for road closures and traffic diversions in the city for the...

Updated 12 Sep, 2024 10:30pm

Companies

Air Link partners with GNEXT to expand Apple products’ availability in Pakistan

GNEXT Technologies, Apple’s authorised distributor for Pakistan, has tapped Air Link Communications Limited, a...

Updated 12 Sep, 2024 10:05pm

Stocks

KSE-100 gains on anticipation of reduction in key policy rate

Bullish sentiments were witnessed at the Pakistan Stock Exchange (PSX), amid expectations of further reduction in...

Updated 12 Sep, 2024 10:05pm

Business & Economy

Privatisation of SOEs: cabinet committee approves WAPDA, NHA as essential entities

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has decided to categorise the Water and Power Development...

Updated 12 Sep, 2024 10:04pm

Interest Rates

SBP made its most aggressive move on the interest rate, but business associations are still unhappy

The State Bank of Pakistan (SBP) moved more aggressively on the key interest rate than what the wider market had...

Updated 12 Sep, 2024 09:26pm

Stocks

Wall St muted as hot PPI keeps smaller rate cut in view; Moderna slumps

Wall Street was little changed on Thursday after hot producer prices data kept a smaller 25-basis point interest...

Published 12 Sep, 2024 09:05pm

Currency

‘Wrongly interpreted’: SBP issues clarification on art competition, new banknote series

The State Bank of Pakistan (SBP) on Thursday clarified banknote designs that have won the recent art competition are...

Updated 12 Sep, 2024 08:24pm

Europe

EU’s top diplomat urges de-escalation at Lebanon-Israel border

BEIRUT: The European Union’s top diplomat, Josep Borrell, on Thursday in Beirut called for a de-escalation of...

Updated 12 Sep, 2024 07:37pm

Energy

Oil prices climb 1% on concern about hurricane’s impact on US output

Oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact on...

Updated 12 Sep, 2024 07:05pm

Stocks

Most Gulf markets end higher on Fed rate cut optimism

Most stock markets in the Gulf ended higher on Thursday after U.S. inflation data paved the way for a likely Federal...

Published 12 Sep, 2024 06:34pm

Europe

Russian missile hit civilian ship carrying Ukrainian grain in Black Sea, Zelenskiy says

KYIV: A Russian missile hit a civilian vessel carrying grain from Ukraine that had already left Ukrainian waters in...

Published 12 Sep, 2024 06:30pm

Asian Hockey Champions Trophy: Pakistan beat China 5-1 to secure semi-final spot

Pakistan hockey team crushed China 5-1 to qualify for the semi-finals of the Asian Hockey Champions Trophy 2024 at...

Published 12 Sep, 2024 06:29pm

Movies & Music

Shagufta Ejaz’s husband Yahya Siddiqui passes away after battle with cancer

Television actor Shagufta Ejaz’s husband Yahya Siddiqui has passed away following a prolonged struggle with cancer,...

Published 12 Sep, 2024 06:25pm

Exchange

Rupee gains marginally against US dollar

Currency settles at 278.44 against the greenback in inter-bank market

Updated 12 Sep, 2024 05:55pm

Arts

Stolen Winston Churchill photo found in Italy

OTTAWA: A brazen art heist that gripped Canadians has been solved: a famed portrait of a scowling Winston Churchill...

Published 12 Sep, 2024 05:29pm

Companies

Microsoft to cut 650 support jobs in Xbox Games unit

Microsoft said it is cutting 650 jobs in its Xbox unit, the third such layoff this year as the company tries to rein...

Published 12 Sep, 2024 05:15pm

Stocks

Sri Lanka shares end flat as healthcare losses offset IT gains

CSE All-Share index settled 0.07% down at 10,567.26

Published 12 Sep, 2024 05:07pm

Commodities

Copper jumps nearly 2% on signs of firmer Chinese demand

LONDON: Copper prices jumped to their highest in nearly two weeks on Thursday on signs of firmer demand in top...

Published 12 Sep, 2024 05:05pm

Commodities

Palm hits three-week low as rival oils dip, India weighs duty hike

MUMBAI: Malaysian palm oil futures fell on Thursday to their lowest level in three weeks, on expectations of an...

Published 12 Sep, 2024 05:02pm

Middle East

At least quarter of Gaza wounded have ‘life-changing injuries’: WHO

GENEVA: The World Health Organization said Thursday that at least a quarter of those hurt in the war raging in Gaza...

Published 12 Sep, 2024 04:57pm

Cricket

Rashid returns to Afghanistan squad for South Africa one-day series

KABUL: Ace spinner Rashid Khan has been included in the Afghanistan squad for the three-match one-day series against...

Published 12 Sep, 2024 04:45pm

South Asia

China’s Xi to attend BRICS summit in Russia: foreign minister

BEIJING: Chinese President Xi Jinping will attend the BRICS summit in Russia next month, China’s foreign minister...

Published 12 Sep, 2024 04:40pm

USA

SpaceX Polaris Dawn crew set for historic private spacewalk

WASHINGTON: After trekking deeper into space than any humans in the last half-century, a pioneering private crew is...

Published 12 Sep, 2024 04:27pm

Pakistan police go on strike in Peshawar after attacks on polio vaccination teams

PESHAWAR: More than 100 Pakistan police personnel who provide security for polio vaccination teams in restive border...

Published 12 Sep, 2024 03:31pm

Zara to offer its secondhand clothes service in US by October

MADRID: Zara will offer its service for selling, repairing or donating secondhand clothes in the United States by...

Published 12 Sep, 2024 03:27pm

Stocks

London’s FTSE 100 recovers as US rate cut certainty helps sentiment

London’s FTSE 100 hit its highest level in over a week on Thursday, amid broader gains after some clarity around the...

Published 12 Sep, 2024 03:02pm

Stocks

Major Gulf markets gain on Fed rate cut optimism

Major stock markets in the Gulf rose in early trade on Thursday after US inflation data paved the way for a Federal...

Published 12 Sep, 2024 02:55pm

Europe

Ukraine’s Zelenskiy calls Chinese-Brazilian peace proposal ‘destructive’

KYIV: Ukrainian President Volodymyr Zelenskiy said a Chinese-Brazilian peace proposal is “destructive” and simply...

Published 12 Sep, 2024 02:53pm

South Asia

Economic relationship with China ‘unfair’, ‘imbalanced’, India foreign minister says

India’s economic relationship with neighbour China has been very “unfair” and “imbalanced”, Indian Foreign Minister...

Published 12 Sep, 2024 02:34pm

Forex

Kenyan shilling stable and seen staying that way, traders say

NAIROBI: The Kenyan shilling was flat on Thursday despite a slight pickup in foreign-currency demand, and traders...

Published 12 Sep, 2024 02:31pm

Commodities

Global cocoa stocks drop, but 2024/25 output seen recovering

SINGAPORE: Global cocoa stocks dropped to 1.32 million metric tons in July, from 1.79 million tons in September last...

Published 12 Sep, 2024 02:30pm

Taylor Swift wins seven VMAs, tying Beyonce for lifetime lead

Pop megastar Taylor Swift took home seven trophies on Wednesday at MTV’s Video Music Awards, tying her with Beyonce...

Updated 12 Sep, 2024 02:29pm

Energy

Global oil demand growth slows as China slumps: IEA

PARIS: Global oil demand grew at its slowest pace since 2020 in the first half of 2024 due to China’s economic...

Published 12 Sep, 2024 02:25pm

Commodities

Copper rises to over 1-week high on demand rebound in China

Copper prices hit their highest in more than a week on Thursday as the Chinese ramped up purchases ahead of a long...

Published 12 Sep, 2024 01:07pm

Commodities

India August palm oil imports fall 26% m/m, trade body says

India’s palm oil imports fell 26% in August from July to about 797,482 metric tons, a trade body said on Thursday....

Published 12 Sep, 2024 01:05pm

Forex

Russian rouble strengthens ahead of the central bank rate meeting

MOSCOW: The Russian rouble strengthened against both the US dollar and the Chinese yuan ahead of the central bank’s...

Published 12 Sep, 2024 01:04pm

Stocks

European shares jump 1% on tech boost; ECB meet in focus

European shares opened more than 1% higher on Thursday, buoyed by strong performances among technology stocks, while...

Published 12 Sep, 2024 01:03pm

Mutual Funds

Euro zone yields edge up ahead of priced-in ECB cut

LONDON: Euro zone government bond yields edged up on Thursday ahead of a widely anticipated interest-rate cut by the...

Published 12 Sep, 2024 12:39pm

Bangladesh pacer Shoriful misses India tour with injury

DHAKA: Bangladesh paceman Shoriful Islam will miss the two-Test series in India this month with a groin injury he...

Published 12 Sep, 2024 12:37pm

Bullion Rate

Gold price per tola decreases Rs1,000 in Pakistan

After registering back-to-back gains, gold prices in Pakistan declined on Thursday in line with a decrease in the...

Published 12 Sep, 2024 12:33pm

Alcaraz’s Spain, ‘epic’ USA off the mark in Davis Cup

PARIS: Carlos Alcaraz returned to action after his shock US Open loss to help Spain get off to a winning start in...

Published 12 Sep, 2024 11:28am

Max Verstappen, Red Bull seek to bounce back in Baku

BAKU: Max Verstappen will look for an improved personal and team performance this weekend when Red Bull seek to stop...

Published 12 Sep, 2024 11:24am

Afghanistan-NZ Test faces complete washout after day four called off

GREATER NOIDA: Rain forced the fourth successive day of the only Test between Afghanistan and New Zealand to be...

Published 12 Sep, 2024 11:19am

South Asia

Indian police arrest 33 after violence in troubled Manipur

NEW DELHI: Indian police have arrested 33 people after a surge in ethnic violence in Manipur state, where a curfew...

Published 12 Sep, 2024 11:17am

MENA

Gaza rescuers say 18 killed in Israeli strike on school

GAZA STRIP: Israel bombed a school housing displaced Palestinians in central Gaza on Wednesday, which rescuers said...

Published 12 Sep, 2024 11:14am

Probe against IPPs expanded after resistance by some

Government wants to retire some IPPs from the system

Updated 12 Sep, 2024 11:11am

Forex

Australia, NZ dollars find support as risk sentiment steadies

SYDNEY: The Australian and New Zealand dollars found some support on Thursday as a rebound in world stock markets...

Published 12 Sep, 2024 11:06am

BOJ’s Tamura calls for raising rates to at least 1%

OKAYAMA: Bank of Japan board member Naoki Tamura said on Thursday the central bank must raise short-term interest...

Published 12 Sep, 2024 11:04am

Stocks

South Korean shares gain more than 1% as chip, auto stocks jump

The benchmark KOSPI rose 29.25 points

Published 12 Sep, 2024 11:01am

Commodities

India to buy soybeans to help farmers reeling from losses

NEW DELHI: India will buy soybeans from farmers of the central state of Madhya Pradesh at state-set support prices...

Published 12 Sep, 2024 10:56am

Europe

Antony Blinken to discuss support for Ukraine in visit to Poland

WARSAW: US Secretary of State Antony Blinken will meet with senior Polish government officials on Thursday to...

Published 12 Sep, 2024 10:52am

Commodities

Palm drops tracking losses in rival oils, rising stocks

MUMBAI: Malaysian palm oil futures fell in early trade on Thursday to their lowest in three weeks, tracking weakness...

Published 12 Sep, 2024 10:48am

Europe

Brussels explores Draghi option of extending up to $385 billion in EU debt, FT reports

European Union (EU) officials are examining ways to roll over hundreds of billions of euros of COVID-19 era bonds in...

Published 12 Sep, 2024 10:46am

Bullion Rate

Gold inches higher as investors eye US data for rate cues

Gold prices edged higher on Thursday, with traders focusing on the upcoming US economic data that may offer further...

Published 12 Sep, 2024 10:44am

Thai consumer confidence drops to 13-month low in August

BANGKOK: Thai consumer confidence dropped for a sixth consecutive month in August to its lowest level in 13 months,...

Published 12 Sep, 2024 10:42am

Asia

Parts of Hanoi remain flooded as landslides hit northern Vietnam

HANOI: Several Hanoi districts remained flooded on Thursday with the weather agency forecasting little change in...

Published 12 Sep, 2024 10:38am

Europe

Russian hawk pushes case for Putin to toughen policy on nuclear weapons

LONDON: Russia should clearly state its willingness to use nuclear weapons against countries that “support NATO...

Published 12 Sep, 2024 10:35am

Travis Head lets rip to fire Australia to easy T20 win over England

SOUTHAMPTON: Australia’s Travis Head struck a remarkable 19-ball half-century including 30 off one over as his side...

Published 12 Sep, 2024 10:31am

Stocks

Japan’s Nikkei bounces on Wall Street gains, softer yen

TOKYO: Japan’s Nikkei share average rose on Thursday after a seven-day slide, as Wall Street’s overnight gains and a...

Published 12 Sep, 2024 10:14am

Stocks

Asian shares up on Wall St tech boost, dollar extends gains on yen

SYDNEY: Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto...

Published 12 Sep, 2024 10:12am

Asia

North Korea fires short-range missiles in first launch in two months

SEOUL: North Korea fired multiple short-range ballistic missiles off its east coast on Thursday, South Korea’s...

Published 12 Sep, 2024 10:09am

Export of unutilised sugar quota: Cabinet ties extension to grower payment

ISLAMABAD: The federal cabinet has decided that 15 days’ extension in export of unutilized quota is not for those...

Updated 12 Sep, 2024 10:09am

Commodities

Soybeans, corn edge higher ahead of USDA data

BEIJING: Chicago soybeans and corn edged higher on Thursday as traders adjusted positions ahead of key monthly crop...

Published 12 Sep, 2024 10:06am

Stocks

Australian shares climb as energy stocks, banks shine

Australian shares traded higher on Thursday, as financials and energy stocks led the gains, while investors digested...

Published 12 Sep, 2024 10:04am

Stocks

China stocks edge down as consumer shares drag; HK stocks up

SHANGHAI: China stocks edged lower on Thursday, dragged down by consumer-related shares, while the technology sector...

Published 12 Sep, 2024 10:02am

Forex

China’s yuan steady after US CPI, focus switches to Chinese data

SHANGHAI: China’s yuan held steady on Thursday against the dollar, which climbed overnight after data showed...

Published 12 Sep, 2024 10:00am

Mutual Funds

Indian bond yields rise slightly as US rate cut odds thin

MUMBAI: Indian government bond yields moved marginally higher early on Thursday, partly reversing their fall from...

Published 12 Sep, 2024 09:58am

Forex

Dwindling hopes of 50 bps Fed rate cut may push rupee to all-time low

MUMBAI: The Indian rupee is likely to be under slight pressure at the open on Thursday after resilient US inflation...

Published 12 Sep, 2024 09:56am

Forex

Dollar firm as inflation data douse bets for big Fed rate cut

TOKYO: The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in US...

Published 12 Sep, 2024 09:54am

Saudi envoy, finance minister discuss economy: Govt’s approach to ‘homegrown’ agenda explained

Saudi business delegation to visit Pakistan in the coming months to further explore areas for joint ventures and collaborative investments

Updated 12 Sep, 2024 09:26am

Finance Division notifies 10-year limit for family pension

ISLAMABAD: The Finance Division has notified that ordinary family pension, after the death or ineligibility of the...

Updated 12 Sep, 2024 09:24am

Gas use for industrial processes also first priority: ECC

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved a proposal for placing gas use for...

Updated 12 Sep, 2024 09:22am

Discos’ sell-off to pave way for a competitive market: CCP

ISLAMABAD: The privatisation of power distribution companies could foster competition in a sector that is currently...

Updated 12 Sep, 2024 09:21am

Q4FY24 adjustment: Tariffs of Discos, KE raised by Rs1.74/unit

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has increased tariffs of Discos and K-Electric...

Updated 12 Sep, 2024 09:12am

All set for SCO ministers’ moot

ISLAMABAD: Pakistan is hosting the 23rd meeting of Ministers of the Shanghai Cooperation Organization (SCO) member...

Updated 12 Sep, 2024 09:09am

Tax exemption only allowed under ITO 2001, if ...

ISLAMABAD: The taxpayers including exporters would only be allowed tax exemption under Income Tax Ordinance, 2001,...

Updated 12 Sep, 2024 09:08am

Acquisition of Telenor, Orion Towers: PTA gets application

ISLAMABAD: Pakistan Telecommunication Authority (PTA) has received the application for the grant of approval of the...

Updated 12 Sep, 2024 09:05am

SCCI files plea against contracts with IPPs

PESHAWAR: A writ petition was filed by Sarhad Chamber of Commerce and Industry in Peshawar High Court against...

Updated 12 Sep, 2024 09:04am

BR’s refresher: your morning briefing for the day

Important updates from September 11, 2024

Published 12 Sep, 2024 08:42am

Autos: Win some, lose some

After monthly sales crossed 13,000 in Jun-24—highest sales in 17 months—automobile sales over the last two months...

Published 12 Sep, 2024 07:23am

Pak Elektron Limited

Pak Elektron Limited (PSX: PAEL) was incorporated in Pakistan as a public limited company in 1956. The company is...

Published 12 Sep, 2024 07:21am