News Archives for Latest - 2024-09-30

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Archive - 2024-09-30

An evening of vision and growth: DHA inaugurates mega projects

As the sun began to dip below the horizon on Karachi’s bustling Sunset Boulevard, the Innovista Indus IT Park...

Updated 01 Oct, 2024 10:50am

Govt reduces petrol price by Rs2.07, HSD’s by Rs3.40 per litre

New prices come into effect from October 1, 2024

Updated 30 Sep, 2024 11:15pm

SC sets aside LHC order on poll tribunals in Punjab

The Supreme Court (SC) Monday accepted the Election Commission of Pakistan’s (ECP) appeal and upheld its suspension...

Updated 30 Sep, 2024 11:06pm

Business & Economy

Pakistan’s GDP grows 3.07% in April-June, 2.52% in FY24

National Accounts Committee says growth in agriculture, industry and services stands at 6.76%, -3.59% and 3.69%, respectively, in fourth quarter of 2023-24

Updated 30 Sep, 2024 10:53pm

Companies

Pakistan’s HUBCO plans to enter lithium mining, battery manufacturing

Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has announced plans to enter...

Updated 30 Sep, 2024 10:53pm

US pledges new funds at anti-IS coalition gathering

WASHINGTON: The United States, seeking to bolster the global coalition against the Islamic State jihadist group,...

Published 30 Sep, 2024 10:47pm

Recorder headlines

Published 30 Sep, 2024 10:44pm

Exchange

Rupee largely stable against US dollar

Currency settles at 277.71 against the greenback in inter-bank market

Updated 30 Sep, 2024 10:39pm

UN chief against any ground invasion of Lebanon: spokesman

UNITED NATIONS: United Nations Secretary-General Antonio Guterres is opposed to any ground invasion of Lebanon by...

Published 30 Sep, 2024 10:32pm

Malaysian PM to arrive in Pakistan on Wednesday

Malaysian Prime Minister Dato’ Seri Anwar Ibrahim will undertake an official visit to Pakistan from October 2 to 4,...

Published 30 Sep, 2024 10:27pm

Stocks

KSE-100 closes marginally lower as late-session buying trims losses

Benchmark index settles at 81,114.20, down by 177.93 points or 0.22%

Updated 30 Sep, 2024 10:00pm

Energy

Oil prices rise on Middle East conflict, but set for monthly loss

NEW YORK/LONDON: Oil prices rose on Monday on fears of a widening conflict in the Middle East curtailing Iranian...

Updated 30 Sep, 2024 09:46pm

Industry

Yousaf Hussain elected as OICCI president for 2024-2026

Yousuf Hussain, president and CEO of Faysal Bank Limited (FBL), has been elected as the president of the Overseas...

Updated 30 Sep, 2024 09:03pm

MENA

Israeli strikes kill Hamas leader in Lebanon and three Palestinian leaders in Beirut

BEIRUT: Palestinian group Hamas said an Israeli strike killed its leader in Lebanon on Monday, while another...

Updated 30 Sep, 2024 08:56pm

Companies

Kohinoor Power, Saritow Spinning cancel proposed amalgamation citing economic challenges

Kohinoor Power Company Limited (KOHP) on Monday announced that it is no longer pursuing a merger with Saritow...

Updated 30 Sep, 2024 08:53pm

Defection law verdict: Justice Munib Akhtar skips hearing

Bench adjourns hearing till Tuesday

Updated 30 Sep, 2024 08:46pm

USA

Biden calls for ceasefire amid reports Israel plans to move into Lebanon

WASHINGTON: US President Joe Biden called for a ceasefire on Monday when asked about reports that Israel is...

Published 30 Sep, 2024 08:41pm

USA

Helene leaves many missing in North Carolina; authorities rush supplies to stricken area

Emergency responders in North Carolina were racing on Monday to try to reach people who remain unaccounted for three...

Published 30 Sep, 2024 08:28pm

MENA

Netanyahu tells Iranians ‘nowhere in the Middle East Israel cannot reach’

OCCUPIED JERUSALEM: Prime Minister Benjamin Netanyahu issued a fresh warning to Iran Monday, saying there was no...

Published 30 Sep, 2024 08:03pm

South Asia

IMF sees gradual return to economic normalcy in Bangladesh

WASHINGTON: The International Monetary Fund on Monday said Bangladesh’s quick formation of an interim government has...

Published 30 Sep, 2024 07:42pm

Luxury hospitality growth explodes in Dubai

Published 30 Sep, 2024 07:33pm

Stocks

US stocks mostly down ahead of Powell speech

NEW YORK: Wall Street stocks opened mostly lower Monday as markets digested the latest stimulus moves in China and...

Published 30 Sep, 2024 07:17pm

Stocks

Most Gulf markets end lower on rising tensions in the region

Most stock markets in the Gulf ended lower on Monday as geopolitical tensions in the region simmered, with the Saudi...

Published 30 Sep, 2024 06:54pm

Middle East

Two-thirds of Gaza buildings damaged in war: UN

GENEVA: Two-thirds of the buildings in the Gaza Strip have been damaged or destroyed since the Gaza war began in...

Published 30 Sep, 2024 06:50pm

Stocks

Sri Lanka shares end higher as all sectors but energy gain

CSE All Share index settled up 0.69% at 11,855.05

Published 30 Sep, 2024 06:49pm

Karsaz accident: Natasha Danish released after SHC grants bail

Published 30 Sep, 2024 06:39pm

South Asia

Cash-strapped Sri Lanka records first deflation in 39 years

COLOMBO: Cash-strapped Sri Lanka’s economy recorded falling consumer prices for the first time in 39 years, official...

Updated 30 Sep, 2024 06:16pm

Europe

Britain calls for ceasefire after Israeli strikes in Lebanon

LONDON: Britain on Monday said that all sides should seek de-escalation and a ceasefire after Israeli airstrikes in...

Published 30 Sep, 2024 06:13pm

Companies

Google to invest $1 billion in Thai data centre, cloud infrastructure

BANGKOK: Alphabet Inc’s Google said on Monday it would invest $1 billion in Thailand to build a data centre and...

Published 30 Sep, 2024 05:57pm

Companies

Looking to revolutionise higher education in Pakistan with SAP ERP: HEC, TMC collaborate for digital transformation

TMC Pvt Ltd, the nation’s leading SAP partner, has been selected to lead the Higher Education Commission (HEC) of...

Published 30 Sep, 2024 05:50pm

Captain Shan Masood says ‘hurt’ Pakistan will look to end win drought against England

Published 30 Sep, 2024 05:46pm

Humbert beats Machac to reach Japan Open final

TOKYO: France’s Ugo Humbert will try to extend his perfect finals record after beating the Czech Republic’s Tomas...

Published 30 Sep, 2024 05:43pm

Middle East

Hezbollah says it is ready for any Israeli land invasion in Lebanon

BEIRUT: Hezbollah fighters are ready to confront any Israeli ground invasion of Lebanon, the group’s deputy leader...

Published 30 Sep, 2024 05:42pm

Movies & Music

What to watch this October: ‘The Diplomat’, ’Call Me Bae, ‘Shrinking’

As we move into October, there is another stellar lineup of new titles to stream. The lineup continues to impress...

Published 30 Sep, 2024 05:41pm

Neymar trains again with Saudi team after long injury lay-off

RIYADH: Brazil superstar Neymar announced his return to team training with his Saudi club Al Hilal on Monday after...

Published 30 Sep, 2024 05:40pm

Jaiswal leads India batting charge in rain-hit Bangladesh Test

KANPUR: Blistering half-centuries by Yashasvi Jaiswal and KL Rahul led India’s batting onslaught as the hosts tried...

Updated 30 Sep, 2024 05:37pm

Stocks

Indian shares dip as traders sell on profit; focus shifts to China

BENGALURU: Indian shares posted their sharpest drop in two months on Monday as investors locked in profits,...

Published 30 Sep, 2024 05:19pm

Middle East

Iran says will not send forces to confront Israel

TEHRAN: Iran will not deploy forces to Lebanon or Gaza to confront Israel, its foreign ministry said on Monday, as...

Published 30 Sep, 2024 05:17pm

PCB announces ticket prices for Pakistan vs England Test series

Pakistan Cricket Board (PCB) on Monday announced ticket prices for the three-match Test series between Pakistan and...

Published 30 Sep, 2024 05:13pm

Commodities

China stimulus sets copper on track for biggest monthly gain since April

LONDON: Copper prices in London were on track for their biggest monthly gain since April on Monday as a series of...

Published 30 Sep, 2024 05:05pm

Commodities

Palm falls for 2nd session on stronger ringgit but logs monthly gain

KUALA LUMPUR: Malaysian palm oil futures ended the month with overall gains, but declined on Monday, marking the...

Published 30 Sep, 2024 05:02pm

Commodities

Global rice prices drop after India allows white rice exports

MUMBAI/HANOI: Global rice prices fell on Monday after India, the world’s No.1 exporter of the grain, gave the...

Published 30 Sep, 2024 05:00pm

Shan Masood says ‘hurt’ Pakistan aim to end win drought against England

KARACHI: Pakistan captain Shan Masood on Monday backed Babar Azam to find his batting touch as his side look to end...

Published 30 Sep, 2024 04:56pm

MENA

Hezbollah deputy says group will select new chief ‘at earliest opportunity’

BEIRUT: Hezbollah’s deputy leader Naim Qassem said Monday that his group would choose a new chief “at the earliest...

Updated 30 Sep, 2024 04:32pm

Recorder headlines

Published 30 Sep, 2024 04:10pm

Carlos Alcaraz to face Medvedev in China Open last four

BEIJING: Four-time Grand Slam champion Carlos Alcaraz will face last year’s runner-up Daniil Medvedev in the China...

Published 30 Sep, 2024 03:28pm

Europe

Russia says captured another village in east Ukraine

MOSCOW: Russia said Monday its forces had captured the east Ukrainian village of Nelipivka, advancing in an area of...

Published 30 Sep, 2024 03:15pm

Commodities

Gold price per tola decreases Rs500 in Pakistan

Gold prices in Pakistan declined further on Monday in line with their decrease in international rates. In the local...

Published 30 Sep, 2024 02:28pm

Karsaz accident: SHC grants bail to suspect Natasha Danish

The Sindh High Court (SHC) on Monday granted bail to Natasha Danish, the driver booked in the Karsaz road accident...

Published 30 Sep, 2024 02:00pm

De-regulating the sugar industry: do not drop the ball again

The sugar industry is in trouble, but it need not morph into a crisis. Last week, the industry association wrote a...

Updated 30 Sep, 2024 01:24pm

Middle East

Iran will not leave Israel’s ‘criminal acts’ unanswered, says foreign ministry

DUBAI: Iran will not leave any of “the criminal acts” of Israel unanswered, Iranian Foreign Ministry spokesperson...

Published 30 Sep, 2024 01:00pm

Stocks

European shares fall at start of data-intensive week

European shares opened lower on Monday as investors prepared for a week packed with a slew of economic data from the...

Published 30 Sep, 2024 01:06pm

Stocks

London stocks start week lower; Aston Martin tumbles

The UK shares started the week on a lower note, as gains in commodity stocks were offset by a sell-off in Aston...

Published 30 Sep, 2024 01:04pm

World Bank approves $1.57 billion loan for Nigeria

LAGOS: The World Bank has approved a $1.57 billion financing package for Nigeria under a new programme to support...

Published 30 Sep, 2024 01:02pm

Arts

Sicilian Cathedral’s stunning mosaics regain golden lustre

MONREALE, Italy: The mosaics of a mediaeval cathedral in Sicily, built by the island’s last Norman king, are set to...

Published 30 Sep, 2024 01:01pm

Europe

Vladimir Putin says Russia will accomplish ‘all goals set’ in Ukraine

MOSCOW: Russian President Vladimir Putin on Monday vowed that Moscow would accomplish all goals it has set for...

Published 30 Sep, 2024 12:56pm

Kris Kristofferson, influential singer-songwriter, dies at 88

Kris Kristofferson, who became one of the most influential American singer-songwriters of his time with works such...

Published 30 Sep, 2024 12:51pm

South Asia

Nepal surveys flood wreckage as death toll reaches 192

KATHMANDU: Search and rescue teams in Nepal’s capital picked through wrecked homes on Monday after waters receded...

Published 30 Sep, 2024 12:36pm

SpaceX docks at ISS to take stranded astronauts home next year

WASHINGTON: The SpaceX crew that will ferry back in February two astronauts stranded on the International Space...

Published 30 Sep, 2024 12:32pm

Naomi Osaka sets up Gauff clash in Beijing, Sabalenka marches on

BEIJING: Four-time Grand Slam champion Naomi Osaka set up a China Open last-16 clash with Coco Gauff on Monday while...

Published 30 Sep, 2024 12:30pm

Diego Simeone says players who provoke fans should be punished

MADRID: Atletico Madrid manager Diego Simeone said on Sunday fans that hurled objects onto the pitch causing their...

Published 30 Sep, 2024 12:21pm

Forex

Australia, NZ dollars resume charge as commodities jump, yen slips

SYDNEY: The Australian and New Zealand dollars resumed their charge toward their multi-month highs on Monday as news...

Published 30 Sep, 2024 12:17pm

Commodities

Palm slips, dragged down by rival edible oils, strong ringgit

KUALA LUMPUR: Malaysian palm oil futures fell on Monday, dragged down by weakness in rival edible oils and...

Published 30 Sep, 2024 12:14pm

BYD recalling 97,000 top-selling EVs on steering component fault, regulator says

SHANGHAI: BYD has informed the Chinese regulator it is recalling nearly 97,000 electric vehicles (EVs) for a...

Published 30 Sep, 2024 12:13pm

Commodities

Wheat, corn and soybeans slip ahead of US stockpiles data

CANBERRA: Chicago wheat, soybean and corn futures fell on Monday as traders awaited US Department of Agriculture...

Published 30 Sep, 2024 12:11pm

New Swiss central bank chief takes charge in shadow of Credit Suisse trauma

ZURICH: As the Swiss National Bank’s new chairman Martin Schlegel takes office this week, the jury is out on the...

Published 30 Sep, 2024 12:07pm

Forex

China’s yuan poised for best quarter since 2020; state banks try to slow gains

SHANGHAI: China’s yuan eased slightly against the dollar on Monday but looked set to post its biggest quarterly...

Published 30 Sep, 2024 12:02pm

Europe

Russia launches waves of drone attacks on Kyiv, Ukraine’s military says

KYIV: Russia launched several waves of drones targeting Kyiv early on Monday, with air defence units successfully...

Published 30 Sep, 2024 11:59am

Lewis Hamilton reveals long battle with depression in Times interview

Seven-time Formula One champion Lewis Hamilton battled with depression for years from an early age as he dealt with...

Published 30 Sep, 2024 11:55am

Finance minister Muhammad Aurangzeb’s press conference on Sunday

Published 30 Sep, 2024 11:46am

Recorder headlines

Published 30 Sep, 2024 11:42am

Stocks

China stocks set for best month in nearly a decade on stimulus cheer

SHANGHAI/SINGAPORE: Chinese stocks extended a blistering rally on Monday with those in the mainland headed for their...

Published 30 Sep, 2024 11:38am

Police fired tear gas shells as protesters moved towards US consulate in Karachi

Updated 30 Sep, 2024 11:37am

Commodities

India halves export duty on parboiled rice to boost shipments

MUMBAI: India on Friday reduced export duty on parboiled rice to 10% from 20% earlier, the government said in a...

Published 30 Sep, 2024 11:34am

Commodities

China stimulus propels London copper, zinc to around 4-month highs

London copper and zinc prices hit their highest in around four months on Monday on demand prospects after a series...

Published 30 Sep, 2024 11:30am

ByteDance plans new AI model trained with Huawei chips, sources say

TikTok’s Chinese parent ByteDance plans to develop an AI model trained primarily with chips from compatriot Huawei...

Published 30 Sep, 2024 11:28am

USA

Hurricane Helene kills at least 90 in US; homes and memories washed away

FLAT ROCK: The Southeastern US began a huge cleanup and recovery effort on Sunday and the death toll climbed towards...

Published 30 Sep, 2024 11:24am

Forex

Malaysia ringgit gains most among Asian FX, Chinese stocks soar

Malaysia’s ringgit climbed on Monday against the dollar to hit its highest in more than three years as additional...

Published 30 Sep, 2024 11:20am

Europe

Two people found dead near wildfire in central Greek region

ATHENS: Two people were found dead in a wildfire which, fanned by strong winds, raged uncontrolled near a rugged...

Published 30 Sep, 2024 11:17am

Bullion Rate

Gold pulls back but dovish Fed sets it for best quarter since 2016

Gold prices eased on Monday but hovered near the record peak hit last week, setting bullion on track for its best...

Published 30 Sep, 2024 10:54am

Stocks

Australian shares hit record high as mining and energy stocks gain

Australian shares rose to an all-time-high on Monday, as miners extended gains on fresh stimulus measures announced...

Published 30 Sep, 2024 10:50am

Gwadar power plant: Chinese co CPPCL shows conditional willingness to work

Sources say PPIB has cited reference of progress a review meeting regarding 300-MW Gwadar coal power plant of CPEC held under chairmanship of Minister for Planning, Development and Special Initiatives (PD&SI)

Updated 30 Sep, 2024 10:41am

PM invites all parties to sign ‘charter of economy’

Says country has come out from economic slump

Updated 30 Sep, 2024 10:40am

Mutual Funds

India bond yields seen easing tracking US peers, quarter-end demand to aid

MUMBAI: Indian government bonds are likely to recover marginally on Monday, and yields may dip in opening trades...

Published 30 Sep, 2024 10:33am

Forex

Indian rupee supported by buoyant Asia FX, importer dollar bids to cap gains

MUMBAI: The Indian rupee is expected to open nearly unchanged on Monday and trade with a slightly positive bias on...

Published 30 Sep, 2024 10:31am

Stocks

Indian shares seen opening marginally higher

BENGALURU: Indian shares are set to open marginally higher on Monday amid mixed cues from their regional peers,...

Published 30 Sep, 2024 10:29am

Stocks

Asia shares dragged by Nikkei, China keeps rallying

SYDNEY: Asia share markets turned hesitant on Monday as strife in the Middle East offset more stimulus measures in...

Published 30 Sep, 2024 10:13am

Forex

Yen steadies, dollar slips as China reaches for stimulus

SINGAPORE: A surging yen steadied on Monday as Japan’s incoming prime minister signalled monetary policy should...

Published 30 Sep, 2024 10:08am

Immovable property: DHA challenges imposition of FED

ISLAMABAD: Islamabad High Court (IHC) has issued notices to the Federal Board of Revenue (FBR) and Attorney General...

Updated 30 Sep, 2024 09:28am

REAP chairman hails removal of Minimum Export Price cap

KARACHI: With the removal of the Minimum Export Price (MEP), Pakistani rice traders can now export without price...

Updated 30 Sep, 2024 09:27am

Tax return deadline: PM likely to take decision today

ISLAMABAD: Prime Minister Shehbaz Sharif will take final decision on Monday (today) on possible one-month extension...

Updated 30 Sep, 2024 09:24am

Constitutional court proposal: Lawyers urge judges to distance themselves

ISLAMABAD: Hundreds of lawyers from across the country on Sunday called upon the apex court and high courts judges...

Updated 30 Sep, 2024 09:23am

Country’s energy woes

Energy sector issues risk further deepening Pakistan’s socio-economic divides as recent years have witnessed an...

Updated 30 Sep, 2024 09:02am

Body formed to ensure enhanced public sector import thru Gwadar port

ISLAMABAD: The Federal Cabinet has constituted an inter-ministerial panel to ensure 60 per cent of public sector...

Updated 30 Sep, 2024 09:01am

CCP suggests govt to swiftly implement CTBCM model

ISLAMABAD: The Competition Commission of Pakistan (CCP) has recommended the government to swiftly implement the...

Updated 30 Sep, 2024 08:59am

Senior economist says a ‘maxi budget’ will be unavoidable

ISLAMABAD: With conventional foreign financing lines largely dry off and expecting a massive shortfall in revenue,...

Updated 30 Sep, 2024 08:57am

Pakistan terms killing of Hassan Nasrallah ‘reckless act’

ISLAMABAD: Pakistan on Sunday condemned Israeli adventurism in the Middle East region, terming the killing of...

Updated 30 Sep, 2024 08:56am

Minister stresses urgency of reform to reshape ‘DNA’

ISLAMABAD: Finance Minister Mohammad Aurangzeb on Sunday underscored the urgency of implementing structural reforms...

Updated 30 Sep, 2024 08:54am

Rupali Polyester Limited

Rupali Polyester Limited (PSX: RUPL) was incorporated in Pakistan as a public limited company in 1980. The principal...

Published 30 Sep, 2024 08:51am

BR’s refresher: your morning briefing for the day

Important updates from September 28 and September 29, 2024

Published 30 Sep, 2024 08:23am

SBP to repurchase MTBs: a wise move

SBP (State Bank of Pakistan) has announced its plan to repurchase Market Treasury Bills (MTBs). It has already...

Updated 30 Sep, 2024 08:15am

Beyond stabilisation: challenges and opportunities

The IMF board has finally approved a $7 billion package, with the first tranche already disbursed. Economic...

Updated 30 Sep, 2024 08:10am

Is de-dollarisation on the move

**This is the first of a two-part series on de-dollarisation. An exclusive report carried by Business Recorder...

Updated 30 Sep, 2024 08:09am

Reckless behaviour

EDITORIAL: It is a shocking statistic. A recent meeting of the Senate Standing Committee on Housing and Works was...

Updated 30 Sep, 2024 08:05am

Inexcusable and unforgiveable

EDITORIAL: Mere allegation of blasphemy in this country can lead to murder by vigilantes, even at the hands of law...

Updated 30 Sep, 2024 08:04am

$7bn IMF lending: no grounds for complacency

EDITORIAL: The IMF (International Monetary Fund) Executive Board has approved a 37-month programme amounting to...

Updated 30 Sep, 2024 08:02am

The Weather

KARACHI: The weather report on Sunday (September 29, 2024) and the forecast for Monday (September 30, 2024)....