News Archives for Latest - 2024-10-16

Archive - 2024-10-16

Exchange

Rupee lowers marginally against US dollar

Currency settles at 277.84 against the US dollar in inter-bank market

Updated 16 Oct, 2024 07:14pm

Stocks

KSE-100 closes above 86,000 for first time amid SCO summit optimism

The Pakistan Stock Exchange (PSX) witnessed another bullish session on Wednesday, as the benchmark KSE-100 Index...

Updated 16 Oct, 2024 07:08pm

Pakistan’s Abhi secures $15mn in credit financing to expand financial inclusion in UAE

DUBAI: Pakistan’s fintech Abhi has secured $15 million in credit financing led by Shorooq Partners and Amplify...

Updated 16 Oct, 2024 06:56pm

England 239-6 in second Test after Sajid strikes for Pakistan

MULTAN: Pakistan spinner Sajid Khan took three wickets in the space of 10 deliveries including centurion Ben Duckett...

Updated 16 Oct, 2024 06:53pm

SCO has potential to enhance regional peace, stability: PM Shehbaz addresses summit

Leaders from China, India, Russia, and other member states attend conference

Updated 16 Oct, 2024 06:48pm

PM Shehbaz meets Russian counterpart on SCO sidelines

Prime Minister Shehbaz Sharif had a “cordial and substantive meeting” with his Russian counterpart Mikhail Mishustin...

Published 16 Oct, 2024 06:39pm

SCO summit: PM Shehbaz raises Israel’s genocide against Palestinians; calls for ceasefire

Prime Minister Shehbaz Sharif on Wednesday told the leaders of the Shanghai Cooperation Organisation (SCO) countries...

Published 16 Oct, 2024 06:16pm

Commodities

Copper bounces from key technical level on China hopes

LONDON: Copper prices rebounded on Wednesday after the market stabilised at a key support level amid hopes that...

Published 16 Oct, 2024 06:10pm

Middle East

Israeli strike hits municipal building in south Lebanon, mayor among 6 killed

BEIRUT/WASHINGTON: Israel launched an airstrike on Wednesday on the municipal headquarters in Nabatieh, a major town...

Published 16 Oct, 2024 05:52pm

PTI founder Imran Khan out of Oxford chancellor’s race

LONDON: Britain’s University of Oxford on Wednesday said 38 candidates are in the running to become its next...

Published 16 Oct, 2024 05:48pm

At SCO CHG, PM Shehbaz raises genocide against Palestinians, calls for ceasefire

Published 16 Oct, 2024 05:39pm

Root could break 16,000-run barrier, says England great Cook

LONDON: Alastair Cook says “generational talent” Joe Root could become the first batter to reach 16,000 Test runs as...

Published 16 Oct, 2024 05:21pm

Europe

Britain calls UN meeting on Gaza, may sanction ministers

LONDON: Britain and France have called an urgent meeting at the United Nations Security Council to discuss the...

Published 16 Oct, 2024 05:20pm

Stocks

Indian shares slip again as foreign fund exodus hurts

Indian shares fell for a second straight session on Wednesday, as foreign funds shifted money to China and marquee...

Published 16 Oct, 2024 05:11pm

Stocks

Sri Lankan shares end higher boosted by IT stocks

CSE All-Share index closed 0.27% higher at 12,290.48 points

Published 16 Oct, 2024 05:09pm

Commodities

Palm snaps two-day losing streak on short-term demand, supply outlook

KUALA LUMPUR: Malaysian palm oil futures edged higher on Wednesday, snapping a two-day losing streak, on expected...

Published 16 Oct, 2024 05:07pm

Energy

Oil steadies after fall as Middle East uncertainty persists

LONDON: Oil steadied on Wednesday, supported by OPEC+ cuts and uncertainty over what may happen next in the Middle...

Updated 16 Oct, 2024 05:04pm

Recorder headlines

Published 16 Oct, 2024 04:03pm

Companies

Fauji Fertilizer acquires additional stake in Agritech Limited for Rs3.9bn

Fauji Fertilizer Company (FFC), one of Pakistan’s largest fertilizer producers, has acquired 106,014,632 shares of...

Published 16 Oct, 2024 03:52pm

Joint statement issued; Any bid to disrupt Sino-Pak ties bound to fail

ISLAMABAD: Pakistan and China have agreed to continue to deepen cooperation in various fields and enhance efforts to...

Updated 16 Oct, 2024 03:45pm

No bilateral talks: Jaishankar’s visit centres only on SCO summit

ISLAMABAD: India’s External Affairs Minister Subrahmanyam Jaishankar landed here on Tuesday to attend the two-day...

Updated 16 Oct, 2024 03:45pm

‘Take and pay’ mode: Govt tailors four customised options for 18 IPPs

ISLAMABAD: The government experts are said to have tailored four options of ‘take and pay’ mode to be offered to 18...

Updated 16 Oct, 2024 03:44pm

Petrol’s price remains unchanged; diesel’s hiked

ISLAMABAD: The government Tuesday increased the price of high speed diesel (HSD) up to Rs 5 per liter effective from...

Updated 16 Oct, 2024 03:43pm

Rain washes out day one of India v New Zealand first Test

BENGALURU: The opening day of the first Test between India and New Zealand was called off without a ball being...

Updated 16 Oct, 2024 03:42pm

Forex

Russian rouble continues to weaken vs US dollar

MOSCOW: The Russian rouble continued to weaken against the US dollar on Wednesday but was flat against China’s yuan,...

Published 16 Oct, 2024 03:37pm

Africa

Nigeria fuel tanker explosion kills almost 100: police

KANO: A fuel tanker explosion in northern Nigeria has killed at least 94 people and left 50 injured, police said on...

Published 16 Oct, 2024 03:22pm

Stocks

European tech, luxury stocks tumble as ASML, LVMH results disappoint

Europe’s tech and luxury stocks slumped on Wednesday after disappointing results from industry heavyweights ASML and...

Published 16 Oct, 2024 03:11pm

Europe

City of London chief says Brexit ‘disaster’ cost 40,000 finance jobs

LONDON: Britain’s departure from the European Union cost London’s financial centre about 40,000 jobs, the Lord Mayor...

Published 16 Oct, 2024 03:07pm

Europe

Saudi crown prince in Brussels for first EU-Gulf summit

BRUSSELS: Gulf leaders including Saudi Crown Prince Mohammed bin Salman gather with EU heads of state and government...

Published 16 Oct, 2024 02:59pm

South Asia

India issues flood warnings as rain pounds south

BENGALURU: Intense rain lashed southern India on Wednesday, with weather officials issuing a red alert warning of...

Published 16 Oct, 2024 02:51pm

Companies

Airbus to cut up to 2,500 jobs in space, defence unit

PARIS: European aviation giant Airbus plans to cut up to 2,500 jobs in its struggling defence and space division, a...

Published 16 Oct, 2024 02:47pm

Stocks

London stocks hit more than 1-week highs after softer-than-expected inflation data

The UK’s main stock indexes jumped on Wednesday after a key inflation reading showed British inflation fell more...

Published 16 Oct, 2024 02:40pm

Stocks

Major Gulf markets gain ahead of earnings; regional conflict, oil limit gains

Major stock markets in the Gulf rose in early trade on Wednesday as investors braced for third-quarter earnings,...

Published 16 Oct, 2024 01:51pm

Europe

Earthquake shakes eastern Turkiye, no casualties reported

ISTANBUL: An earthquake with a magnitude of 5.9 struck eastern Turkiye Malatya province on Wednesday, the country’s...

Published 16 Oct, 2024 01:48pm

Bullion Rate

New record high: gold price hits Rs277,200 per tola in Pakistan

After declining in the previous session, gold prices in Pakistan surged on Wednesday in line with their increase in...

Published 16 Oct, 2024 01:16pm

South Asia

The Bishnoi gang: the notorious syndicate Canada says is India’s proxy

NEW DELHI: India’s Bishnoi crime gang has a grim reputation for assassinations and extortion on its home soil, but...

Published 16 Oct, 2024 12:50pm

PM Shehbaz welcomes leaders participating in SCO Heads of Government meeting

Published 16 Oct, 2024 12:45pm

Stocks

Asian markets track Wall Street losses on worries over tech rally

HONG KONG: Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fuelled by worries about...

Published 16 Oct, 2024 12:42pm

Companies

Lufthansa fined ‘record’ $4mn for barring Jewish passengers

WASHINGTON: US authorities have hit Lufthansa with a record $4 million penalty after finding the airline...

Published 16 Oct, 2024 12:40pm

South Asia

Iran warns of ‘decisive’ response if Israel strikes, urges UN action

TEHRAN: Iran’s top diplomat has warned UN chief Antonio Guterres that Tehran is ready for a “decisive and regretful”...

Published 16 Oct, 2024 12:38pm

UK inflation hits three-year low, fuelling rate-cut hopes

LONDON: Britain’s annual inflation rate fell to a three-year low in September, official data showed Wednesday,...

Published 16 Oct, 2024 12:35pm

Europe

World heading into ‘the Age of Electricity’: IEA

PARIS: More than half of the world’s electricity will be produced by low-emission sources before 2030 but the...

Published 16 Oct, 2024 12:34pm

Anosh Ahmed: a Pakistani-American empowering communities through philanthropy, healthcare initiatives

Pakistani American physician, and philanthropist Dr Anosh Ahmed works to leave a legacy of compassion. Let’s browse...

Published 16 Oct, 2024 12:22pm

Energy

Sinopec says east China shale oil field pumping at 1,600 tons a day

SINGAPORE: Sinopec is advancing development of shale oil at its pilot project Jiyang in east China, pumping 1,600...

Published 16 Oct, 2024 12:19pm

Commodities

Palm bounces back on stronger crude and rival oils

KUALA LUMPUR: Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of...

Published 16 Oct, 2024 12:16pm

SCO has potential to enhance regional peace, stability: PM Shehbaz addresses summit

Published 16 Oct, 2024 12:11pm

Forex

China’s yuan edges up on hopes of more stimulus

HONG KONG: China’s yuan steadied against the dollar on Wednesday after slipping to one-month lows in early trade,...

Published 16 Oct, 2024 11:48am

Asia

Former Malaysian PM Mahathir, 99, hospitalised with respiratory infection

KUALA LUMPUR: Former Malaysian Prime Minister Mahathir Mohamad has been admitted to hospital for a respiratory...

Published 16 Oct, 2024 11:41am

Commodities

London copper rises amid short-covering, soft dollar

London copper rose on Wednesday, supported by a softer dollar and as prices rebounded from a psychological support...

Published 16 Oct, 2024 11:37am

Gabba dropped for Ashes opener in Australia for first time in 40 years

MELBOURNE: The Gabba will not host an Ashes series-opener in Australia for the first time in more than four decades...

Published 16 Oct, 2024 11:34am

MENA

Israeli strike rocks Beirut after US says it opposes scope of air assault

BEIRUT/WASHINGTON: At least one Israeli strike hit Beirut’s southern suburbs early on Wednesday morning, Reuters...

Published 16 Oct, 2024 11:28am

Europe

Russia launches scores of drones on Kyiv, other Ukrainian regions

KYIV: Russia launched a series of drone and missile attacks overnight targeting Kyiv and other Ukrainian cities,...

Published 16 Oct, 2024 11:07am

Stocks

China stocks wobble, HK up as investors pin hope on property sector briefing

HONG KONG: China stocks moved choppily on Wednesday while Hong Kong shares rose, as investors looked forward to a...

Published 16 Oct, 2024 11:00am

Mexico dominate US in 2-0 friendly win

Mauricio Pochettino suffered his first defeat in only his second match in charge of the US national team on Tuesday...

Published 16 Oct, 2024 10:57am

Europe

Ukraine top commander says Britain is working on proposals for implementing Ukraine’s victory plan

KYIV: Ukraine armed forces commander General Oleksandr Syrskyi said on Wednesday that Britain is working on its own...

Published 16 Oct, 2024 10:54am

Lionel Messi hits hat-trick as Argentina hammer Bolivia 6-0

BUENOS AIRES: Lionel Messi scored his 10th international hat-trick and had a hand in two more goals as Argentina...

Published 16 Oct, 2024 10:49am

South Asia

India’s Adani Green calls off planned dollar bond sale, sources say

MUMBAI: India’s Adani Green Energy cancelled its plan to raise funds via US dollar-denominated bonds after investors...

Published 16 Oct, 2024 10:45am

Tony Popovic hails Socceroos spirit after positive qualifying window

A gritty draw against Asian heavyweights Japan will hopefully give Australia belief they are building a foundation...

Published 16 Oct, 2024 10:42am

Mutual Funds

Indian bond yields seen steady amid lack of cues

MUMBAI: Indian government bond yields are expected to trade little changed in early trading on Wednesday, as market...

Published 16 Oct, 2024 10:24am

Stocks

Australian shares slip from record high; Rio Tinto drops

Australian stocks fell on Wednesday, slipping from a record high close in the previous session, as shares in iron...

Published 16 Oct, 2024 10:21am

Commodities

Corn and soybeans regain a little ground after sell-off

CANBERRA: Chicago corn and soybean futures steadied on Wednesday after hitting multi-week lows in the previous...

Published 16 Oct, 2024 10:18am

Stocks

Japan’s Nikkei falls as chip stocks track US peers lower

TOKYO: Japan’s Nikkei share average fell on Wednesday, as chip-related stocks tracked an overnight drop in US peers,...

Published 16 Oct, 2024 10:15am

Bullion Rate

Gold ticks up as Treasury yields slip; US retail sales data in focus

Gold prices inched higher on Wednesday, as US Treasury yields eased, while market participants waited for more US...

Published 16 Oct, 2024 10:13am

Forex

Dollar pullback to help Indian rupee, weak risk appetite to weigh

MUMBAI: The Indian rupee is expected to open largely unchanged on Wednesday, holding below the 84 handle amid...

Published 16 Oct, 2024 10:11am

Forex

Aussie hit by China stimulus scepticism; US dollar firm on Fed outlook

TOKYO: The Australian and New Zealand dollars slumped on Wednesday as scepticism grew about top trading partner...

Published 16 Oct, 2024 10:08am

Asia

Xi Jinping says China willing to be a partner, friend with the US

BEIJING: Chinese President Xi Jinping said a successful partnership between China and the United States is an...

Published 16 Oct, 2024 10:04am

Stocks

Indian shares set for muted open

Indian shares are likely to open little changed on Wednesday, as investors await fresh triggers amid continuing...

Published 16 Oct, 2024 10:01am

Solar gains, grid pains

The standard for policymaking is to establish clearly defined short, medium, and long-term goals. Unfortunately,...

Published 16 Oct, 2024 09:49am

EPQL in 9MCY24

Engro Powergen Qadirpur Limited (PSX: EPQL) recently announced its financial results for the third quarter of the...

Published 16 Oct, 2024 09:31am

SCO summit begins under tight security

Over 12,674 personnel including capital police, paramilitary forces, and Rangers deployed in Islamabad’s three tiers for protection

Updated 16 Oct, 2024 09:30am

Airlink Communication Limited

Airlink Communication Limited (PSX: AIRLINK) was incorporated in Pakistan as a private limited company in January...

Published 16 Oct, 2024 09:21am

Banking customers: Mohtasib provides over Rs1bn relief

KARACHI: The monetary relief of over Rs 1.06 billion, by disposing of 18,836 complaints, has been provided by the...

Updated 16 Oct, 2024 09:26am

Insurance cos: SECP hikes minimum required amount of paid-up capital

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has increased the minimum required amount of...

Updated 16 Oct, 2024 09:25am

Minister opens upgraded CPLC Call Centre

KARACHI Sindh Home Minister Zia Ul Hassan Lanjar has inaugurated the upgraded CPLC Call Center 1102 during his visit...

Updated 16 Oct, 2024 08:58am

Special song to welcome SCO summit guests

ISLAMABAD: The Ministry of Information and Broadcasting on Tuesday released a special song to warmly welcome the...

Updated 16 Oct, 2024 08:57am

Industry

Labour bodies will not be allowed to ‘blackmail’ industries: Sindh minister

KARACHI: Provincial Minister for Labor and Human Resource, Shahid Abdul Salam Taheem, assured industrialists at a...

Updated 16 Oct, 2024 08:57am

CM seeks details of illegal housing schemes from LDA

LAHORE: Chief Minister Punjab Maryam Nawaz has sought details about illegal housing schemes from LDA. The CM chaired...

Updated 16 Oct, 2024 08:53am

When trust goes down…

Business goes down. Stock market goes down. Growth goes down. These are the hot news ingredients that become...

Updated 16 Oct, 2024 08:39am

Top leaders from SCO member states attend dinner

ISLAMABAD: The top leaders from Shanghai Cooperation Organisation (SCO) member states especially those of China,...

Updated 16 Oct, 2024 08:38am

‘Constitutional amendment’: NA, Senate sessions likely tomorrow

ISLAMABAD: The government has convened sessions of the National Assembly and the Senate on October 17 to seek...

Updated 16 Oct, 2024 08:37am

IMF’s reputational risks

EDITORIAL: In documents uploaded on the International Monetary Fund (IMF) website in the early hours of this Friday...

Updated 16 Oct, 2024 08:36am

Controversial law: Govt seeks bipartisan support

ISLAMABAD: The maddening buzz surrounding the very essence of the controversial constitutional amendment has refused...

Updated 16 Oct, 2024 08:35am

Country losing billions due to agri mismanagement—II

Outdated farming techniques: Pakistani farmers continue to rely on obsolete and labour-intensive farming techniques,...

Updated 16 Oct, 2024 08:34am

Zardari, Li vow to deepen strategic ties

ISLAMABAD: Pakistan and China have reaffirmed their commitment to further deepen strategic cooperation across key...

Updated 16 Oct, 2024 08:34am

ISMO: A game-changer for Pakistan’s electricity market?

In a significant step toward reforming Pakistan’s power sector, the Cabinet Committee on Energy (CCoE) recently...

Updated 16 Oct, 2024 08:31am

BR’s refresher: your morning briefing for the day

Important updates from October 15, 2024

Published 16 Oct, 2024 08:31am

Recurring violence in Balochistan

EDITORIAL: There is no let-up in bad news coming from the restive Balochistan province. Last Friday, in a horrific...

Updated 16 Oct, 2024 08:29am

PDP demands govt accelerate work on Karachi Safe City project

KARACHI: Expressing concern over organized terrorist activities in Karachi, particularly the recent car bomb attack...

Published 16 Oct, 2024 08:25am

Kazakhstan PM arrives

ISLAMABAD: To attend the meeting of the Shanghai Cooperation Organization (SCO) in Pakistan, the Prime Minister of...

Published 16 Oct, 2024 08:24am

President hosts lunch for Li

ISLAMABAD: President Asif Ali Zardari, Tuesday, hosted a luncheon in honour of Chinese Premier Li Qiang. Prime...

Published 16 Oct, 2024 08:19am

IK’s personal physician not allowed to enter Adiala Jail

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan’s personal physician was not allowed to enter the...

Published 16 Oct, 2024 08:17am

Pakistan calls for action against ‘transitional organised crime’

VIENNA: The 12th session of the Conference of Parties (COP) to the UN Convention against ‘Transnational Organized...

Published 16 Oct, 2024 08:14am

Adaptation Fund Board approves $10m worth project for Indus-SAFER

ISLAMABAD: Adaptation Fund Board Monday approved a landmark $10 million worth project for the Indus-Sustainable...

Updated 16 Oct, 2024 08:11am

TikTok removes 20m videos in Pakistan in Q1 for violating guidelines

KARACHI: TikTok took action against 20 million videos, in Pakistan, and removed for breaching its Community...

Updated 16 Oct, 2024 08:08am

Host Country Approval in favour of new investor in sight: PPIB

ISLAMABAD: The government is to extend Host Country Approval to amended guarantee coverage in favour of new investor...

Updated 16 Oct, 2024 08:06am

NA speaker, Chinese premier agree to make joint efforts for regional peace, stability

ISLAMABAD: National Assembly Speaker Sardar Ayaz Sadiq and Chinese Premier Li Qiang discussed parliamentary and...

Updated 16 Oct, 2024 08:03am

Sindh: massive investment expected in next few years

KARACHI: With improved and business-friendly policies, the Sindh government is expecting massive investment in the...

Published 16 Oct, 2024 08:01am

Companies

PTCL Group reports 15.3pc YoY revenue growth

KARACHI: Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the...

Published 16 Oct, 2024 07:59am

8 cases filed against Salman Raja: govt

LAHORE: The Punjab government on Tuesday told the Lahore High Court that eight cases had been registered against PTI...

Updated 16 Oct, 2024 07:57am

Constitutional amendments: PPP, JUI-F reach consensus over proposed draft

KARACHI: Pakistan Peoples’ Party (PPP) and JUI-F reached consensus over proposed constitutional amendments draft...

Published 16 Oct, 2024 07:55am

15 varsities participate in PCB-HEC Inter-varsity cricket championship

HYDERABAD: The PCB-HEC Inter-University Cricket Championship (Zone K) kicked off on Tuesday at the cricket ground of...

Published 16 Oct, 2024 07:51am

Ali sisters win at ‘Hungarian Junior Squash Open 2024’

LAHORE: Pakistan’s rising squash star, Mehwish Ali, has won her 25th Gold medal at the Hungarian Junior Squash ...

Published 16 Oct, 2024 07:49am

Awareness rally held on World Food Day

HYDERABAD: On the occasion of World Food Day, an awareness rally was organized by Sindh Food Authority Hyderabad ...

Updated 16 Oct, 2024 07:47am

Cleaning system in Punjab: Bidding process completed in 64 tehsils: minister

LAHORE: Punjab Local Government Minister Zeeshan Rafiq has said that the bidding process for outsourcing of cleaning...

Updated 16 Oct, 2024 07:46am

CBD Punjab secures Rs81m annual lease for petrol pump site

LAHORE: The Punjab Central Business District Development Authority (PCBDDA), commonly known as Central Business...

Updated 16 Oct, 2024 07:45am

Free travel for special persons holding ‘Himmat Card’

LAHORE: The Punjab government has announced free travelling for special persons. Persons holding the Himmat Card can...

Published 16 Oct, 2024 07:43am

Governor for taking care of special children

LAHORE: Punjab Governor, Sardar Saleem Haider Khan said on Tuesday that taking care of special children and ...

Updated 16 Oct, 2024 07:42am

PARTLY FACETIOUS: ‘I am guilty of being shallow and yellow’

“I plead guilty.” “Whether you plead guilty or innocent doesn’t matter - the nature of your crime merits a military...

Updated 16 Oct, 2024 07:24am

Goal to end extreme poverty by 2030 ‘out of reach’: World Bank

WASHINGTON: A global target of ending extreme poverty by 2030 is “out of reach,” said the World Bank on Tuesday,...