News Archives for Latest - 2024-10-02

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Archive - 2024-10-02

OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia

OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157...

Published 02 Oct, 2024 11:29pm

‘Sickening cycle of escalation’ in Mideast must stop, UN chief says

UNITED NATIONS: UN chief Antonio Guterres called Wednesday for an end to the “sickening cycle of escalation” in the...

Published 02 Oct, 2024 10:49pm

Commodities

Sale of petroleum products jumps 20% in September amid higher demand

Sale of total petroleum products in Pakistan clocked in at 1.27 million tons in September, an increase of 20% on a...

Updated 02 Oct, 2024 10:43pm

Forex

Rupee remains largely stable against US dollar

Currency settles at 277.64 against the greenback in inter-bank market

Updated 02 Oct, 2024 10:42pm

Middle East

Iran says attack on Israel is over as fears grow of wider conflict

Israel and US vow to retaliate against Tehran
UN Security Council schedules meeting, EU calls for immediate ceasefire

Updated 02 Oct, 2024 10:41pm

Malaysian PM arrives in Pakistan on three-day official visit

PM Shehbaz welcomes his Malaysian counterpart at Noor Khan Airbase

Updated 02 Oct, 2024 10:41pm

Business & Economy

Pakistan’s trade deficit widens marginally to $5.4bn in 3MFY25

Gap comes on account of higher imports that stand at $13.31bn, while exports clock in at $7.88bn in three months

Updated 02 Oct, 2024 10:17pm

Business & Economy

Aurangzeb calls for ‘leveraging’ economic gains to ensure permanent stability

Finance Minister Mohammed Aurangzeb called for “leveraging” Pakistan’s improving economic position to achieve...

Updated 02 Oct, 2024 10:15pm

Business & Economy

T-Bill buyback to boost lending to private sector: SBP governor

State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday said the government’s move to buy back Market...

Updated 02 Oct, 2024 10:14pm

Recorder headlines

Published 02 Oct, 2024 10:03pm

‘Apni Chhat Apna Ghar’ scheme: CM Maryam distributes loan cheques among winners of first balloting

Punjab Chief Minister Maryam Nawaz Sharif, along with his father and former prime minister Nawaz Sharif, on...

Updated 02 Oct, 2024 09:42pm

Energy

Oil prices up 1% on Middle East tensions; US crude stocks build limits gains

Brent futures up 84 cents, or 1.14%, to $74.40 per barrel

Updated 02 Oct, 2024 09:32pm

Europe

G7 leaders still hope in diplomatic solution for Middle East, Italy says

ROME: Leaders of the Group of Seven (G7) democracies believe a diplomatic solution to the conflicts in the Middle...

Published 02 Oct, 2024 09:28pm

South Asia

Iran’s president visits Qatar, aims to rally opposition to Israeli ‘crimes’

DUBAI: Iranian President Masoud Pezeshkian arrived in Qatar on Wednesday for bilateral talks and a summit at which...

Published 02 Oct, 2024 09:21pm

Stocks

KSE-100 closes marginally higher as late-session selling trims intra-day gains

The Pakistan Stock Exchange (PSX) witnessed mixed trading on Wednesday, as the benchmark KSE-100 Index swayed in...

Updated 02 Oct, 2024 08:32pm

Middle East

Israel combat losses in south Lebanon rise to eight: army

JERUSALEM: The Israeli military said its combat losses in southern Lebanon increased to eight on Wednesday as it...

Updated 02 Oct, 2024 08:11pm

USA

UN chief warns tit-for-tat Mideast violence must stop

UNITED NATIONS: United Nations Secretary-General Antonio Guterres on Wednesday condemned Iran’s missile attack on...

Published 02 Oct, 2024 08:08pm

Punjab CM Maryam Nawaz distributes cheques among Apni Chhat Apna Ghar scheme first balloting winners

Published 02 Oct, 2024 08:06pm

Purchasing property, car: Non-tax filers to face restriction: Aurangzeb

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday said non-tax filers will have to...

Updated 02 Oct, 2024 07:55pm

Stocks

S&P 500, Nasdaq hit two-week lows as caution reigns over Middle East tensions

The benchmark S&P 500 and the Nasdaq traded near two-week lows on Wednesday as investors priced in a possible...

Published 02 Oct, 2024 07:23pm

Naqvi chairs high-level meeting regarding preparations of SCO Summit

Federal Minister for Interior Mohsin Naqvi on Monday chaired a high-level meeting at the Ministry of Interior...

Published 02 Oct, 2024 06:57pm

Stocks

Most Gulf markets retreat on heightened regional tensions

Most stock markets in the Gulf ended lower on Wednesday after Iran’s ballistic missile strike on Israel stoked fears...

Published 02 Oct, 2024 06:46pm

Senator Irfan-ul-Haque Siddiqui meets JUI-F Chief Maulana Fazal ur Rehman

Published 02 Oct, 2024 06:38pm

England cricket team arrives in Pakistan for Test series

Published 02 Oct, 2024 06:35pm

Middle East

Hezbollah says blast targets Israeli troops on border

BEIRUT: Hezbollah said it had targeted an Israeli unit with an explosive device near a southern border village...

Published 02 Oct, 2024 06:05pm

Middle East

Israel bars UN secretary-general from entering country

JERUSALEM: Israel’s foreign minister said on Wednesday that he was barring UN Secretary-General Antonio Guterres...

Updated 02 Oct, 2024 05:48pm

Stocks

Sri Lanka shares end lower as energy, materials drag

CSE All-Share index settled 0.49% lower at 11,934.23

Published 02 Oct, 2024 05:15pm

MENA

Israel presses on with military presence in Lebanon after Iran attack

OCCUPIED JERUSALEM/BEIRUT: The Israeli military said on Wednesday that regular infantry and armoured units were...

Updated 02 Oct, 2024 05:14pm

Commodities

Copper creeps higher on hopes for more China stimulus

LONDON: Copper prices drifted higher on Wednesday, still basking in the glow of stimulus measures unleashed by top...

Published 02 Oct, 2024 05:13pm

Commodities

Palm rises more than 4% in biggest jump in over a year on stronger oil, soyoil

KUALA LUMPUR: Malaysian palm oil futures jumped more than 4% on Wednesday, driven by gains in crude oil prices and...

Published 02 Oct, 2024 05:11pm

Security forces kill 6 BLA terrorists in Balochistan

Security forces on Wednesday killed 6 militants belonging to the banned outfit Baloch Liberation Army (BLA) in a...

Published 02 Oct, 2024 05:09pm

Recorder Headlines

Published 02 Oct, 2024 04:10pm

Europe

Kremlin calls for restraint in Middle East after Iranian attack on Israel

MOSCOW: The Kremlin on Wednesday said the situation in the Middle East was developing in an alarming direction and...

Published 02 Oct, 2024 03:35pm

Bullion Rate

Gold price per tola increases Rs600 in Pakistan

After declining in the last four sessions, gold prices in Pakistan surged on Wednesday in line with their increase...

Updated 02 Oct, 2024 03:24pm

Sugar export to Afghanistan: Banks directed to ensure 100pc advance payment

Measure aims to enhance transparency and safeguard the timely collection of export payments, particularly in trade with Afghanistan

Updated 02 Oct, 2024 03:05pm

Travel

London’s Canary Wharf sets sights on hotels to fill empty offices

LONDON: London’s Canary Wharf financial district wants to convert swathes of empty office space into other uses...

Published 02 Oct, 2024 02:35pm

Energy

Saudi says oil may drop to $50 if OPEC+ members flout output curbs, WSJ reports

The Saudi oil minister has said that oil prices could drop to as low as $50 per barrel if OPEC+ members do not stick...

Updated 02 Oct, 2024 02:28pm

Travel

Cipriani demands Venice tackle speeding boats and ‘damaging waves’

ROME: The owner of Harry’s Bar, a Venetian bar and restaurant frequented by Ernest Hemingway, has filed a legal...

Published 02 Oct, 2024 02:27pm

Luxury

Louis Vuitton shows flouncy, layered looks at the Louvre for Paris Fashion Week

PARIS: Louis Vuitton womenswear designer Nicolas Ghesquiere showed a lineup of layered looks with short, flouncy...

Published 02 Oct, 2024 02:16pm

MENA

Yemen’s Houthis claim missile attack on Israel

SANAA: Yemen’s Iran-backed Houthi rebels on Wednesday said they had fired cruise missiles “deep inside” Israel,...

Published 02 Oct, 2024 02:13pm

Europe

British forces ‘played their part’ in defending Israel: UK minister

LONDON: UK armed forces “played their part in attempts to prevent further escalation” as Iran fired a barrage of...

Published 02 Oct, 2024 02:08pm

Forex

South African rand softens, global markets focus on Middle East tensions

JOHANNESBURG: The South African rand weakened slightly against a stable dollar in early trade on Wednesday, as...

Published 02 Oct, 2024 02:00pm

T-Bill buyback to boost lending to private sector: SBP governor

Published 02 Oct, 2024 01:55pm

Commodities

Jordan issues tender to buy up to 120,000 T wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling...

Published 02 Oct, 2024 01:43pm

Forex

Russian rouble strengthens, helped by higher oil

MOSCOW: The Russian rouble strengthened against the US dollar on Wednesday, regaining ground after a fall in the...

Published 02 Oct, 2024 01:41pm

Stocks

Major Gulf markets retreat on heightened regional tensions

Major stock markets in the Gulf declined in early trade on Wednesday after Iran’s ballistic missile strike on Israel...

Published 02 Oct, 2024 01:32pm

Commodities

Copper edges higher on China stimulus, Middle East conflict

Copper prices gained on Wednesday as China’s stimulus measures brightened demand prospects, while rising oil prices...

Published 02 Oct, 2024 01:31pm

Mutual Funds

JGB yields slide on Middle East jitters

TOKYO: Japanese government bond (JGB) yields declined on Wednesday, as investors scooped up safer assets amid fears...

Published 02 Oct, 2024 01:29pm

Volvo Cars reports slight sales increase amid market uncertainty

COPENHAGEN: Volvo Cars’ sales rose by 1% year-on-year in September to 62,458 cars, the Sweden-based automaker said...

Published 02 Oct, 2024 01:28pm

Stocks

European shares buck global downturn on Middle East risks as energy stocks gain

European shares opened higher on Wednesday, led by energy stocks, defying a slump in Asian stocks and Wall Street...

Published 02 Oct, 2024 01:27pm

UniCredit’s rating might top Italy’s if it buys Commerzbank, Moody’s says

MILAN: Moody’s would consider hiking UniCredit’s credit rating one notch above Italy’s sovereign rating if it bought...

Published 02 Oct, 2024 01:25pm

Muhammad Aurangzeb addresses ‘Launching Ceremony of Pakistan Economy Dashboard’

Published 02 Oct, 2024 01:11pm

Stocks

FTSE 100 rises on upbeat energy, metal stocks

The UK’s benchmark FTSE 100 stock index opened higher on Wednesday, led by energy and industrial metal mining...

Published 02 Oct, 2024 01:24pm

Forex

Ugandan shilling stable, to ease due to energy sector FX demand

KAMPALA: The Ugandan shilling was little-changed on Wednesday, but was expected to weaken, undercut by an uptick in...

Published 02 Oct, 2024 01:12pm

Middle East

Israel kills dozens in Gaza, sends tanks into southern areas, medics say

CAIRO: Israeli military strikes across the Gaza Strip killed at least 60 Palestinians overnight, including in a...

Updated 02 Oct, 2024 01:04pm

Man City kickstart Champions League campaign with Bratislava rout

BRATISLAVA: Manchester City cruised to their first win in the Champions League this season with Erling Haaland among...

Published 02 Oct, 2024 12:49pm

USA

Death toll from powerful storm Helene tops 150 in US

WASHINGTON: The death toll from powerful storm Helene, which battered the southeastern United States, has climbed to...

Published 02 Oct, 2024 12:40pm

Al Hilal enjoy AFC Champions League romp after Neymar boost

RIYADH: Former Fulham striker Aleksandar Mitrovic was on target as Al Hilal, buoyed by Neymar returning to training...

Published 02 Oct, 2024 12:32pm

Asia

China’s Xi congratulates new Japan PM Ishiba

BEIJING: Chinese President Xi Jinping has congratulated new Japanese Prime Minister Shigeru Ishiba, state media...

Published 02 Oct, 2024 12:30pm

Stocks

Hong Kong stocks rocket more than 6% on China stimulus

HONG KONG: Hong Kong stocks soared more than six percent Wednesday morning, led by another advance in developers...

Published 02 Oct, 2024 12:24pm

Aryna Sabalenka wins 15th match in a row to reach Beijing quarters

BEIJING: Top seed Aryna Sabalenka won her 15th match in a row to power into the China Open quarter-finals with a...

Published 02 Oct, 2024 12:21pm

USA

Solar eclipse to create rare ‘ring of fire’ over South America

PUERTO SAN JULIAN: An annual solar eclipse will create a rare “ring of fire” phenomenon visible in parts of South...

Published 02 Oct, 2024 12:20pm

Greenland’s footballers yearn for the international stage

NUUK: Despite being covered by ice and largely desolate, football is still king in Greenland, whose players want to...

Published 02 Oct, 2024 12:17pm

South Asia

Thousands march in India as doctors resume strike

KOLKATA: Tens of thousands of people packed the streets of one of India’s biggest cities after doctors resumed a...

Published 02 Oct, 2024 12:07pm

Europe

Danish police probe two blasts near Israeli embassy

COPENHAGEN: Danish police said on Wednesday they were investigating two blasts that went off near the Israeli...

Published 02 Oct, 2024 11:54am

Etisalat: govt contemplating finding middle ground to resolve payment issue

ISLAMABAD: The government is doubtful of getting the entire amount, as it is contemplating a middle ground to...

Updated 02 Oct, 2024 11:53am

Recorder headlines

Published 02 Oct, 2024 11:44am

Asia

Japan PM Ishiba expressed desire to strengthen US alliance in first call with Biden

TOKYO: Japan’s new Prime Minister Shigeru Ishiba said on Wednesday he wanted to strengthen his nation’s alliance...

Published 02 Oct, 2024 11:42am

Tim Southee steps down as New Zealand Test captain, Latham takes over

Tim Southee has stepped down as Test captain of New Zealand after struggling for form and has been replaced by...

Published 02 Oct, 2024 11:38am

Europe

France’s Macron condemns Iran’s attacks on Israel

French President Emmanuel Macron said he strongly condemns Iran’s new attacks on Israel, adding that in a sign of...

Published 02 Oct, 2024 11:34am

Forex

Australia dollar hampered by risk aversion, kiwi by rate calls

SYDNEY: The Australian and New Zealand dollars had stepped back from recent highs on Wednesday as escalating...

Published 02 Oct, 2024 11:31am

Commodities

Wheat eases after touching over 3-month high on Russian supply fears

CANBERRA: Chicago wheat futures fell in early trading on Wednesday, after concerns that dry weather in the Black Sea...

Published 02 Oct, 2024 11:28am

USA

US Secretary of Defence Austin speaks with Israeli counterpart after Iranian attack

WASHINGTON: US Secretary of Defence Lloyd Austin said he spoke with Israeli Defence Minister Yoav Gallant following...

Published 02 Oct, 2024 11:24am

Commodities

Palm rises on stronger crude oil, Chicago soyoil and weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures rose on Wednesday, supported by firmer crude oil prices, stronger Chicago...

Published 02 Oct, 2024 11:20am

Energy

Bangladesh’s RPGCL seeks LNG cargoes for Oct-Nov delivery, document shows

SINGAPORE: Bangladesh’s Rupantarita Prakritik Gas Company Ltd (RPGCL) is seeking two liquefied natural gas (LNG)...

Published 02 Oct, 2024 11:18am

Bullion Rate

Gold prices flat as dollar strength counters safe-haven demand

Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle...

Published 02 Oct, 2024 11:13am

Energy

Australia’s Santos and TotalEnergies sign LNG deal

SINGAPORE: Australian gas supplier Santos said on Wednesday that it has signed a mid-term liquefied natural gas...

Published 02 Oct, 2024 11:11am

Stocks

Asia stocks slide, oil extends gains on Middle East risks

TOKYO: Asia stocks sank on Wednesday, catching up with the sell-off on Wall Street after Iran’s ballistic missile...

Published 02 Oct, 2024 11:07am

Europe

Russia plans emergency public warning tests on Wednesday

Russia will run a nationwide test of its emergency public warning systems on Wednesday, letting sirens wail and...

Published 02 Oct, 2024 11:04am

Stocks

Australian shares slip as banks’ losses outweigh gains in miners

Australian shares inched lower on Wednesday as losses in banks outweighed gains in mining and energy stocks, while...

Published 02 Oct, 2024 10:57am

Stocks

Japanese shares fall in early trade on Middle East tension jitters

TOKYO: Japan’s Nikkei share average edged lower in early trade on Wednesday, after escalating tensions in the Middle...

Published 02 Oct, 2024 10:42am

USA

Tim Walz and Vance clash, politely, at policy-heavy vice presidential debate

NEW YORK: Democrat Tim Walz and Republican JD Vance clashed on Tuesday at a vice presidential debate that was...

Published 02 Oct, 2024 10:36am

Investments are fully secured in Pakistan, Russians told by Aleem Khan

ISLAMABAD: Addressing the opening session of the three-day Pakistan-Russia Trade and Investment Forum in Moscow,...

Updated 02 Oct, 2024 10:23am

Forex

Dollar firm as war widens in Middle East

SYDNEY: The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove...

Published 02 Oct, 2024 10:03am

APTMA, minister discuss issues facing textile industry

ISLAMABAD: A high-level delegation from the All Pakistan Textile Mills Association (APTMA) on Tuesday held a meeting...

Updated 02 Oct, 2024 09:32am

Depositors of member banks: DPC ups guarantee amount to Rs1m

KARACHI: The Deposit Protection Corporation (DPC) has increased the guarantee amount for all eligible depositors of...

Updated 02 Oct, 2024 09:29am

‘Bharo Bill Foran; Karo Mulk Roshan’: KE proposes a country-wide campaign

ISLAMBAD: While supporting the power minister’s terminology for power theft as economic terrorism, K-Electric (KE)...

Updated 02 Oct, 2024 09:25am

CJP makes observation about Article 63-A verdict: Apparently, it intended to weaken no-trust motions

ISLAMABAD: The counsel for Supreme Court Bar Association (SCBA) and political parties were directed to refer the...

Updated 02 Oct, 2024 09:23am

Formation of ‘constitutional court’: Bilawal steps up drive

QUETTA: Pakistan Peoples Party (PPP) Chairman and former foreign minister Bilawal Bhutto has said that everyone...

Updated 02 Oct, 2024 09:22am

PM satisfied with ‘lowest’ inflation rate

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday expressed satisfaction over reduction in price hike which is now...

Updated 02 Oct, 2024 09:21am

Kohala hydropower project: PPIB board approves extension of financial close date

ISLAMABAD: The Board of Private Power and Infrastructure Board (PPIB) has approved extension in financial closing...

Updated 02 Oct, 2024 09:20am

$7bn IMF loan: PBA commends govt efforts

KARACHI: The Pakistan Banks’ Association (PBA) commends the efforts of the Government of Pakistan and the Ministry...

Updated 02 Oct, 2024 09:19am

The inflation respite

Who would have thought the often-mocked State Bank of Pakistan’s medium-term inflation target range of 5-7 percent...

Published 02 Oct, 2024 09:12am

Cement financials: All is well

The economy may be in dire straits but the cement industry is climbing out of its rut in a rather agreeable fashion....

Published 02 Oct, 2024 09:09am

Lucky Cement Limited

Lucky Cement Limited [PSX: LUCK] is the flagship company of Yunus Brothers Group. Incorporated in 1993, Lucky cement...

Published 02 Oct, 2024 09:07am

BR’s refresher: your morning briefing for the day

Important updates from October 1, 2024

Published 02 Oct, 2024 09:00am

Hassan Nasrallah’s assassination and after

EDITORIAL: Changing the strategic dynamics of its confrontation with Hezbollah for over a week Israel has constantly...

Published 02 Oct, 2024 07:00am

Kurram needs attention

EDITORIAL: Thankfully, after a week of violent clashes in Kurrram district peace has been restored. Violent clashes...

Published 02 Oct, 2024 07:00am

And the brand lives on…

The product dies. The factory shuts down. The shelves become empty. The shops forget it. The mind stores in memory....

Published 02 Oct, 2024 06:49am

The untapped value of water

Pakistan, a country facing increasing water scarcity, is struggling with a critical challenge in efficiently ...

Published 02 Oct, 2024 06:48am

Sound data and effective policymaking

EDITORIAL: How can a country be effectively governed without reliable data? This is a question Pakistani...

Published 02 Oct, 2024 06:34am

Defence ‘geek’ Ishiba becomes Japan PM

TOKYO: Japan got a new prime minister on Tuesday, with Shigeru Ishiba setting out to jumpstart a lacklustre economy,...