News Archives for Latest - 2024-10-07

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Archive - 2024-10-07

NDMA issues alert for potential storm in Arabian Sea

The developing tropical cyclone could affect Pakistan's coastal areas

Published 07 Oct, 2024 11:40pm

Companies

PPL’s subsidiary secures $6mn settlement with Iraq’s Midland Oil Company

PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Limited (PPL), has reached a settlement with...

Updated 07 Oct, 2024 11:30pm

Fix your own problems first instead of lecturing democratic Pakistan, Islamabad tells Afghanistan

FO categorically rejects 'frivolous statement' made by spokesperson of the Ministry of Foreign Affairs of Afghanistan

Updated 07 Oct, 2024 11:27pm

Beijing calls for investigation after two Chinese nationals killed in Karachi airport blast

Statement comes after convoy carrying Chinese staff of the Port Qasim Electric Power Company was targeted near the airport on Sunday night

Updated 07 Oct, 2024 11:26pm

SCO summit: govt announces three-day holiday in Islamabad, Rawalpindi

The federal government on Monday announced a three-day “closed holiday” in Islamabad and Rawalpindi, from October 14...

Updated 07 Oct, 2024 11:25pm

MENA

Hezbollah strikes Israel on Gaza war anniversary

OCCUPIED JERUSALEM/CAIRO: Hezbollah rockets hit Israel’s third-largest city of Haifa, police said early on Monday,...

Updated 07 Oct, 2024 11:24pm

Middle East

Israel steps up Gaza bombing on war’s first anniversary, civilians desperate for return to calm

Nearly 42,000 killed in Gaza in year-long Israeli aggression against Palestinians

Updated 07 Oct, 2024 11:23pm

Mohsin Naqvi visits Chinese Embassy, expresses condolence over Karachi bombing

Interior Minister Mohsin Naqvi Monday visited the Embassy of the People’s Republic of China to express condolence...

Updated 07 Oct, 2024 11:21pm

Hezbollah tells fighters not to attack Israeli troops near peacekeepers

BEIRUT: The Hezbollah group said on Monday it ordered its fighters not to attack Israeli troops who recently moved...

Published 07 Oct, 2024 11:08pm

Energy

Oil rises 3% as Middle East war makes investors end bearish bets

NEW YORK: Oil prices rose more than 3% on Monday, with Brent surpassing $80 per barrel for the first time since...

Updated 07 Oct, 2024 10:10pm

Companies

Regal Automobiles gets nod to manufacture Pakistan’s first electric SUV, price set at Rs8.399mn

Becomes second four-wheel carmaker to receive licence from Engineering Development Board for electric vehicles

Published 07 Oct, 2024 10:08pm

Saudi delegation, led by investment minister, to visit Pakistan on October 9: FO

The Foreign Office (FO) announced on Monday that Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih...

Updated 07 Oct, 2024 09:44pm

Stocks

Led by oil & gas sector, KSE-100 gains nearly 1,400 points to settle at record high

Index closes at 84,910 as investors seem bullish on 'recovering' Pakistan's economy

Updated 07 Oct, 2024 09:42pm

APC demands immediate, unconditional ceasefire in Gaza

Forum urges international community to take urgent measures to prevent Israel from further undermining regional peace and stability

Published 07 Oct, 2024 09:40pm

Recorder headlines: October 07, 2024 (9pm)

Published 07 Oct, 2024 09:14pm

Europe

Putin to meet Iran president in Turkmenistan Friday: news agencies

MOSCOW: Russian President Vladimir Putin is to meet Iran’s President Masoud Pezeshkian for talks Friday at a forum...

Published 07 Oct, 2024 09:09pm

President Zardari urges international community to stop Israeli adventurism, restore peace

President Asif Ali Zardari on Monday expressed deep concern over Israeli adventurism in the Middle East and...

Updated 07 Oct, 2024 08:49pm

Middle East

‘Year of suffering’: Gazans tired on October 7 anniversary

GAZA STRIP: One year after Israel unleashed aggression in Gaza, the Palestinian territory is unrecognisable and its...

Updated 07 Oct, 2024 08:48pm

USA

Hurricane Milton strengthens fast, threatens Mexico, Florida

MIAMI: Hurricane Milton intensified rapidly on Monday, with dangerously strong winds and storm surges forecast for...

Published 07 Oct, 2024 08:43pm

Europe

Ukraine says hit Crimea oil terminal, Russia claims gains

KYIV: Kyiv said Monday its forces had struck a large oil terminal overnight on the occupied Crimean peninsula as...

Published 07 Oct, 2024 07:47pm

Stocks

US stocks decline ahead of inflation data, earnings

NEW YORK: Wall Street stocks dipped early Monday as markets grappled with higher oil prices and looked ahead to key...

Published 07 Oct, 2024 07:25pm

Energy

India prepared to handle oil supply hit from Middle East conflict, oil minister says

NEW DELHI: India will be able to navigate through any hit to oil supplies from the potential widening of the Middle...

Published 07 Oct, 2024 06:58pm

Exchange

Rupee marginally declines against US dollar

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

Updated 07 Oct, 2024 06:50pm

Mohsin Naqvi visits Chinese Embassy, expresses condolence over Karachi bombing

Published 07 Oct, 2024 06:49pm

President Zardari urges international community to stop Israeli adventurism, restore peace

Published 07 Oct, 2024 06:40pm

Shan Masood leads from front as Pakistan reach 328-4 v England

Pakistan captain Shan Masood smashed 153 and forged a 253-run partnership with fellow centurion Abdullah Shafique to...

Updated 07 Oct, 2024 06:18pm

56 Pakistani prisoners return home from Sri Lanka

Published 07 Oct, 2024 05:32pm

Energy

BP drops oil output reduction target in strategy reset, sources say

LONDON: BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s...

Published 07 Oct, 2024 05:12pm

Naomi Osaka pulls out of Japan Open with back injury

TOKYO: Four-time Grand Slam champion Naomi Osaka on Monday pulled out of her home Japan Open next week because of an...

Published 07 Oct, 2024 04:48pm

South Asia

Sri Lanka’s leftist government secures $200mn World Bank loan

COLOMBO: Sri Lanka said on Monday it had secured a new $200 million World Bank loan to bolster economic recovery,...

Published 07 Oct, 2024 04:43pm

Mohammad Haris to lead Pakistan Shaheens in Emerging Asia Cup

Pakistan wicketkeeper batter Mohammad Haris will lead Pakistan Shaheens in the ACC Men’s T20 Emerging Teams Asia Cup...

Published 07 Oct, 2024 04:27pm

Recorder headlines

Published 07 Oct, 2024 04:02pm

Saudi delegation, led by investment minister, to visit Pakistan on October 9: FO

Published 07 Oct, 2024 03:45pm

Bullion Rate

Gold price per tola increases Rs200 in Pakistan

After decreasing in the last session, gold prices in Pakistan increased on Monday in line with their gain in...

Published 07 Oct, 2024 03:30pm

Reducing power tariff top priority: Awais

ISLAMABAD: Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, said on Sunday that the government is...

Updated 07 Oct, 2024 03:07pm

Many filed income tax returns thru ‘FTO desk’

ISLAMABAD: A large number of taxpayers including salaried class and individuals have filed their income tax returns...

Updated 07 Oct, 2024 03:07pm

Europe

New blast near Israeli embassy in Denmark

COPENHAGEN: A new blast went off near the Israeli embassy in Denmark, police said on Monday as the world marked the...

Published 07 Oct, 2024 03:04pm

PM directs including DBHP in CPEC

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the concerned authorities to include $8 billion Diamer Bhasha...

Updated 07 Oct, 2024 02:56pm

Supermodel Naomi Campbell admits failures at charity, denies misconduct, media reports say

Supermodel Naomi Campbell acknowledged shortcomings in her role as a trustee of the Fashion for Relief charity,...

Published 07 Oct, 2024 02:06pm

A year-long atrocity with no end in sight

One year to October 7, and here we are possibly, at the beginning of a nuclear confrontation. With all diplomatic...

Updated 07 Oct, 2024 01:47pm

Forex

Kenyan shilling steady, to remain level this week, traders say

NAIROBI: Kenya’s shilling was steady against the dollar on Monday, and is expected to remain level in the coming...

Published 07 Oct, 2024 01:28pm

Stocks

FTSE 100 opens slightly higher; precious metal miners cap gains

The UK’s benchmark FTSE 100 started the week on a higher note, supported by a broad-based rally and a softer jobs...

Published 07 Oct, 2024 01:26pm

Stocks

European stocks slip as real estate, utilities drag

European stocks slipped on Monday as the initial euphoria over strong US jobs data last week faded and...

Published 07 Oct, 2024 01:19pm

South Asia

Deadly floods swamp India, Bangladesh

GUWAHATI: Torrents of water rushing downstream from the Himalayas have killed at least 20 people in India and...

Published 07 Oct, 2024 01:15pm

Sanath Jayasuriya named as full-time Sri Lanka cricket head coach

COLOMBO: Sanath Jayasuriya was appointed Sri Lanka cricket head coach on Monday, replacing Chris Silverwood who quit...

Published 07 Oct, 2024 01:12pm

Mexican mayor assassinated days after taking office

MEXICO CITY: The mayor of the capital of Mexico’s violence-plagued state of Guerrero was killed on Sunday less than...

Published 07 Oct, 2024 01:07pm

MENA

In one year of war, Israel strikes 40,000 ‘Hamas targets’ in Gaza, military says

OCCUPIED JERUSALEM: In the past year in the Gaza Strip, Israel has bombed more than 40,000 targets, found 4,700...

Updated 07 Oct, 2024 12:56pm

‘Second family’: tennis stars hunt winning formula with new coaches

BEIJING: World number one Iga Swiatek split from hers after three seasons. Naomi Osaka and Coco Gauff were both at...

Published 07 Oct, 2024 12:23pm

Fritz wins delayed match to reach Shanghai Masters third round

SHANGHAI: World number seven Taylor Fritz finally made into the third round of the Shanghai Masters on Monday, two...

Published 07 Oct, 2024 12:21pm

Stocks

Japan leads Asia stock rally, dollar gains after blowout US payrolls

TOKYO: Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout US...

Published 07 Oct, 2024 12:15pm

Energy

China to remain world’s top LNG buyer in 2024-25, IEA says

HIROSHIMA: China is set to remain the world’s top buyer of liquefied natural gas (LNG) this year and next because of...

Published 07 Oct, 2024 12:10pm

Commodities

Copper hovers near $10,000 as traders await more cues

London copper prices rose on Monday to hover near the $10,000 per-metric-ton level, as market participants looked...

Published 07 Oct, 2024 11:58am

South Asia

Three die of suspected heat stroke at air force event in India’s Chennai

CHENNAI: At least three people died of suspected heat stroke in India’s southern city of Chennai on Sunday at an...

Published 07 Oct, 2024 11:56am

Commerzbank would lose clients in UniCredit merger, German lender’s CEO says

FRANKFURT: Commerzbank and UniCredit did not discuss a merger at a recent meeting, the German lender’s CEO Bettina...

Published 07 Oct, 2024 11:51am

Middle East

Iran summons Australian envoy over stance on its Israel attack, Tasnim says

DUBAI: Iran’s foreign ministry has summoned the Australian ambassador in Tehran over what it called his country’s...

Published 07 Oct, 2024 11:48am

South Asia

Maldives president Muizzu to meet India’s Modi amid economic woes

NEW DELHI: Maldives President Mohamed Muizzu will hold talks with Indian Prime Minister Narendra Modi on Monday...

Published 07 Oct, 2024 11:44am

Driving range dad tipped Yu’s US Tour breakthrough

With back-to-back birdies on the 18th hole, Kevin Yu fulfilled his driving range-owning dad’s prediction that he...

Published 07 Oct, 2024 11:41am

Commodities

Palm falls on weaker Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures inched lower on Monday, mirroring losses in the Chicago soyoil market but a...

Published 07 Oct, 2024 11:39am

Europe

Fire breaks out at oil depot in Crimea, officials appointed by Russia say

A fire broke out at an oil depot in the city of Feodosia on the Crimean coast of the Black Sea, Russian-appointed...

Updated 07 Oct, 2024 11:36am

Asia

Indonesia’s Prabowo to visit China next month, says adviser

JAKARTA: Indonesia’s President-elect Prabowo Subianto will visit China next month to meet investors and offer them...

Published 07 Oct, 2024 11:34am

ECB will probably cut rates in Oct on risk of too low inflation: Villeroy

FRANKFURT: The European Central Bank will probably cut interest rates on Oct 17 as economic growth is weak and this...

Published 07 Oct, 2024 11:29am

Mutual Funds

Philippines fully awards $353mn T-bill offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:...

Published 07 Oct, 2024 11:21am

Forex

Asian currencies slip after US jobs data, Malaysian ringgit hits three-week low

Most Asian currencies fell on Monday, with the Malaysian ringgit and the Indonesian rupiah sliding the most, while...

Published 07 Oct, 2024 11:19am

Europe

Ukraine says air defence units engaged in repelling Russia’s air attack on Kyiv

KYIV: Ukraine’s air defence units were engaged in repelling Russia’s air attack on Kyiv, Ukraine’s military said on...

Published 07 Oct, 2024 10:50am

Commodities

South Korea bought about 60,000 metric tons soymeal, traders say

HAMBURG: The Korea Feed Association (KFA) purchased around 60,000 metric tons of soymeal on Friday, European traders...

Published 07 Oct, 2024 10:48am

Adani Group in talks to buy Heidelberg’s Indian cement operations, ET reports

BENGALURU: The Adani Group is in talks to buy the Indian cement operations of Germany’s Heidelberg Materials in a...

Published 07 Oct, 2024 10:43am

Mutual Funds

Indian bond yields seen inching up as 10-year US yield nears 4%

MUMBAI: Indian bond yields are expected to trend higher in early trading on Monday, tracking a spike in US yields...

Published 07 Oct, 2024 10:39am

Forex

Indian rupee to remain moored at 84/USD after 50 bps Fed rate cut priced out

MUMBAI: The Indian rupee is expected to hold near its all-time low on Monday after a blowout US jobs report prompted...

Published 07 Oct, 2024 10:35am

Bullion Rate

Gold inches lower as US jobs data cements bets for smaller rate cut

Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after a surprisingly strong jobs...

Published 07 Oct, 2024 10:32am

Stocks

Hong Kong shares hit 2-1/2-year high ahead of China’s return

SINGAPORE: Hong Kong shares hit their highest in more than two years on Monday, with stocks in tech and tourism...

Published 07 Oct, 2024 10:29am

Stocks

Indian shares set to open higher

Indian shares are set to open higher on Monday after logging losses for five straight sessions, and tracking Asian...

Published 07 Oct, 2024 10:27am

Stocks

Australian shares edge higher as banks and miners gain

Australian shares edged higher on Monday, as gains in banks and miners outweighed losses in gold and real estate...

Published 07 Oct, 2024 10:25am

Stocks

Nikkei rallies on weaker yen, Wall Street gains

TOKYO: Japan’s Nikkei share average rose in early trade on Monday, supported by Wall Street’s gains on Friday and a...

Published 07 Oct, 2024 10:23am

Recorder headlines

Published 07 Oct, 2024 10:20am

Forex

Dollar holds gains made on US jobs data and Middle East flare-up

SINGAPORE: Japan’s yen fell to its lowest in nearly two months and other major currencies too were grappling with...

Published 07 Oct, 2024 10:18am

Commodities

Iran’s SLAL tenders for 120,000 T each corn and barley, traders say

HAMBURG: Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 120,000...

Published 07 Oct, 2024 10:12am

300MW Thar coal project: PPIB urges KE to expedite feasibility, other studies

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has urged K-Electric (KE) to expedite the...

Updated 07 Oct, 2024 09:49am

14 business categories: FTO issues notice to FBR on compulsory integration

ISLAMABAD: The Federal Tax Ombudsman (FTO) has ordered an investigation against the Federal Board of Revenue (FBR)...

Updated 07 Oct, 2024 09:41am

D-Chowk protest: Roads reopened, mobile, internet services restored

ISLAMABAD: The situation remained relatively calm in the federal capital on Sunday, after intense clashes between...

Updated 07 Oct, 2024 09:39am

Pashtun Tahafuz Movement banned

ISLAMABAD: Ahead of a grand Pashtun jirga, and less than a week after the “missing” Chief Minister Khyber...

Updated 07 Oct, 2024 09:27am

PM says no one will be allowed to harm economy

ISLAMABAD: Prime Minister Shehbaz Sharif has said no one will be allowed to destabilize Pakistan’s economy, and all...

Updated 07 Oct, 2024 09:25am

SHC rejects FIR quashing plea of a battery co

ISLAMABAD: Sindh High Court (SHC) has dismissed an application of a company engaged in the business of...

Updated 07 Oct, 2024 09:22am

‘The solar push: flying too close to the sun?’

Pakistan’s energy sector is quickly hitting an impasse with solarization. On one hand is the surging interest in net...

Published 07 Oct, 2024 09:15am

Wholesale inflation: Multiyear low

Single-digit inflation is the talk of the town, and the Wholesale Price Index (WPI) joins the race like never...

Published 07 Oct, 2024 09:09am

Interview with Ehsan Saya - Managing Director, Daraz Pakistan & Sri Lanka

Personalization is crucial in today’s diverse market, where each customer journey is unique Ehsan Saya is the...

Published 07 Oct, 2024 09:05am

Two dead, 9 injured in explosion near Karachi Airport

KARACHI: A powerful explosion ‘targeting foreign nationals’ just outside the Jinnah International Airport in Karachi...

Updated 07 Oct, 2024 08:43am

Prices of kitchen items remain high

PESHAWAR: Prices of important kitchen items including live chicken/meat, vegetable, pulses, sugar, flour and other...

Updated 07 Oct, 2024 08:41am

BR’s refresher: your morning briefing for the day

Important updates from October 5 and October 6, 2024

Published 07 Oct, 2024 08:40am

Is de-dollarisation on the move?

This is the second of a two-part series on de-dollarisation. President Richard Nixon’s treasury secretary John...

Updated 07 Oct, 2024 08:24am

Transforming maturity profile of domestic debt

Inflation is falling rapidly, nearing a four-year low, with FY25 (July 2024–June 2025) average inflation expected...

Updated 07 Oct, 2024 08:22am

Value addition: key to Pakistan’s agri growth

Pakistan is fundamentally an agricultural country, with a substantial portion of its economy reliant on agriculture....

Updated 07 Oct, 2024 08:20am

Letters

Country in the throes of intense political instability?

It increasingly appears that the country’s economy is moving in the right direction. Declining inflation, price...

Updated 07 Oct, 2024 08:15am

The logjam in the economy continues

EDITORIAL: Former finance minister Dr Hafiz Pasha recently maintained that the revenue shortfall that he projected ...

Updated 07 Oct, 2024 08:14am

Why Israel is out of control

EDITORIAL: We’ve reached the point where Why Israel is out of control even the most conservative editorial spaces of...

Updated 07 Oct, 2024 08:12am

Europe needs bigger banks to compete with US, Chinese rivals: Lagarde

FRANKFURT: Europe needs bigger and stronger banks that can compete with their US and Chinese rivals, European ...

Updated 07 Oct, 2024 08:05am

Barclays investment bank grabs market share in deals, executive says

LONDON: Barclays’ investment bank is gaining market share in deal advisory and equity capital markets as part of a...

Updated 07 Oct, 2024 08:05am

PTI issues 24-hour ultimatum to govt for ‘recovery’ of Gandapur

PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) has condemned the alleged arrest of KP Chief Minister Sardar Ali Amin...

Published 07 Oct, 2024 07:51am

PTI lawyers’ wing moves PHC for Gandapur’s recovery

PESHAWAR: PTI lawyers wing moved the Peshawar High Court (PHC) for the recovery of Khyber Pakhtunkhwa Chief Minister...

Published 07 Oct, 2024 07:50am

Gandapur not in our custody, IGP Islamabad

ISLAMABAD: Inspector-General of Police (IGP) Islamabad Ali Nasir Rizvi has denied that Chief Minister Khyber...

Published 07 Oct, 2024 07:49am

PTI leader says ‘damaged’ Khyber Pakhtunkhwa House will not be repaired

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader and former speaker National Asembly Asad Qaiser has said that the...

Published 07 Oct, 2024 07:47am

Traders say 2pc cess affecting exports from KP

PESHAWAR: Traders and exporters claim that export from Khyber Pakhtunkhwa had halted after imposition of two percent...

Updated 07 Oct, 2024 07:45am

Krafters, HAP join hands to uplift SMEs, home-based workers

PESHAWAR: Krafters, an e-commerce platform has signed a memorandum of understanding (MoU) with Handicrafts...

Published 07 Oct, 2024 07:43am

Cotton & Textile

Weekly Cotton Review: PCGA predicts 60pc decline in production; prices remain stable

KARACHI: Pakistan Cotton Ginners Association (PCGA) has predicted an alarming 60 percent decline in cotton...

Published 07 Oct, 2024 07:41am

56 Pakistani prisoners return home from Sri Lanka

ISLAMABAD: 56 Pakistanis imprisoned in Sri Lanka returned home on Sunday, said an official statement. A chartered...

Published 07 Oct, 2024 07:40am

Impressive JI rally expresses solidarity with people of Gaza

KARACHI: Jamaat-e-Islami (JI) on Sunday commemorated October 7, as the one year of Israel’s genocide-war on Gaza...

Published 07 Oct, 2024 07:38am

5000 candidates appear in entrance exam organised by MHIT

PESHAWAR: Around 5000 aspiring students appeared in an entrance exam organized by Mohsin and Huma Mass IT Training...

Published 07 Oct, 2024 07:31am

Money & Banking

BoK holds 8th Regional Agri Coordination body meeting

PESHAWAR: The Bank of Khyber (BoK) held the 8th Regional Agriculture Coordination Committee meeting at its Head...

Published 07 Oct, 2024 07:30am

Taxes

ETO vows to expand user-friendly services, end agents’ role

ISLAMABAD: Director Excise & Taxation Department, Islamabad, Bilal Azam has assured his department’s ...

Published 07 Oct, 2024 07:28am

Breast cancer challenge: Rural women should shun quacks, opt for yearly screening

ISLAMABAD: Leading cancer specialists/oncologists Sunday sounded a dire warning, urging rural women to avoid...

Published 07 Oct, 2024 07:24am

PDMA issues fresh rain alert; official says depts ready to respond

ISLAMABAD: Provincial Disaster Management Authority (PDMA) Director-General Irfan Ali Kathia Sunday assured that all...

Published 07 Oct, 2024 07:23am

Brazil votes in local elections with eyes on 2026 presidential showdown

SAO PAULO: Brazilians voted on Sunday for mayors and city councilors in more than 5,500 municipal elections, with...