News Archives for Print - 2023-06-05

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Print - 2023-06-05

Meta unveils Quest 3 mixed reality headset

NEW YORK: Meta Platforms CEO Mark Zuckerberg on Thursday revealed the company’s next generation mixed reality...

Published 05 Jun, 2023 03:27am

Top AI CEOs, experts raise ‘risk of extinction’ from AI

STOCKHOLM/ LONDON: Top artificial intelligence (AI) executives including OpenAI CEO Sam Altman on Tuesday joined...

Published 05 Jun, 2023 03:27am

South Asia

Deadly India train crash linked to signal system failure

BALASORE (India): The cause of India’s deadliest train disaster in decades was linked to the signal system, the...

Published 05 Jun, 2023 03:27am

Sudan battles rage as US, Saudi urge new truce talks

RIYADH: The United States and Saudi Arabia on Sunday made a renewed push for truce talks between Sudan’s warring...

Published 05 Jun, 2023 03:27am

China warns ‘NATO-like’ alliances could lead to conflict in Asia-Pacific

SINGAPORE: China’s defence minister warned Sunday against establishing NATO-like military alliances in the...

Published 05 Jun, 2023 03:27am

Suez Canal traffic resumes after broken down tanker tugged away

ISMAILIA, (Egypt): Egypt deployed three tugboats Sunday to tow away an oil tanker that had broken down and caused...

Published 05 Jun, 2023 03:27am

Biden lauds ‘crisis averted’ with debt ceiling deal in first Oval Office address

WASHINGTON: US President Joe Biden declared a “crisis averted” on Friday in his first address from the White...

Published 05 Jun, 2023 03:27am

Polish opposition supporters, seeking change, mark 1989 Solidarity win

WARSAW: Hundreds of thousands of protesters gathered in Warsaw on Sunday, the 34th anniversary of Poland’s first...

Published 05 Jun, 2023 03:27am

Philippine lawmakers approve $8.9bn sovereign wealth fund

MANILA: Philippine lawmakers approved the creation of an $8.9 billion sovereign wealth fund on Wednesday to boost...

Published 05 Jun, 2023 03:27am

US Treasury official meets with China’s new envoy

WASHINGTON: US Treasury Undersecretary Jay Shambaugh met on Friday with China’s new ambassador to the United...

Published 05 Jun, 2023 03:27am

Sri Lanka square ODI series with 132 run win over Afghanistan

HAMBANTOTA, (Sri Lanka): Quick bowler Dushmantha Chameera stormed back into the Sri Lankan team to power their...

Published 05 Jun, 2023 03:27am

Influential political, tribal figures set to join PPP: Bacha

PESHAWAR: Provincial president PPP Khyber Pakhtunkhwa, Minister of State for Water Resources, Mohammad Ali Shah ...

Published 05 Jun, 2023 03:27am

Overseas Pakistanis: CM for prompt redressal of grievances

LAHORE: Caretaker Chief Minister Punjab Mohsin Naqvi has issued directions to the Inspector General of Police to...

Published 05 Jun, 2023 03:27am

Roosevelt Hotel given to NYC govt for 3 years: govt

LAHORE: Minister for Aviation and Railways Khawaja Saad Rafique said on Sunday that a contract had been signed with...

Updated 05 Jun, 2023 08:48am

Israel buries three soldiers killed near Egypt border

OCCUPIED JERUSAL-EM: Israel on Sunday buried three soldiers killed in a firefight at its usually secure border with...

Updated 05 Jun, 2023 08:43am

Letters

Insurance industry at the crossroads

Our insurance industry is in a dismal state both in terms of providing any proper protection and securing a sizable...

Published 05 Jun, 2023 03:27am

20,000 tons of DAP fertilizer sent to Afghanistan from Gwadar port

ISLAMABAD: A private sector consignment of 20,000 tons of DAP fertilizer has been sent from Gwadar port to...

Published 05 Jun, 2023 03:27am

Economy: don’t fear when surgery is imminent

It has once again become crystal clear who really holds the reins of power in the political arena. The only way...

Updated 05 Jun, 2023 11:02am

China as our lender of the last resort

Administrations/researchers in the West have been accusing China of being an unforgiving lender to developing...

Published 05 Jun, 2023 03:27am

Elahi’s remand sought by ACE: court reserves verdict

LAHORE: A district court on Sunday reserved its verdict on a request from the Anti-Corruption Establishment (ACE) ...

Published 05 Jun, 2023 03:27am

‘Yasmin Rashid case’ Punjab police to approach LHC

LAHORE: The Punjab police decided to approach the high court against a Lahore anti-terrorism court’s order to...

Published 05 Jun, 2023 03:27am

PM urges global action to beat plastic pollution

ISLAMABAD: Prime Minister Shehbaz Sharif said the government has taken several steps to take Pakistan on the path to...

Published 05 Jun, 2023 03:27am

Smuggled cigarettes seized at Rawalpindi

ISLAMABAD: In line with Prime Minister Shehbaz Sharif’s anti-smoking policy, the Customs with the Ganjamndi police...

Published 05 Jun, 2023 03:27am

Crackdown on tax defaulting vehicles to begin today

KARACHI: On the direction of Sindh Minister for Excise, Taxation and Narcotics Control Department Mukesh Kumar...

Updated 05 Jun, 2023 08:45am

PIA starts direct Karachi-Skardu flights

KARACHI: In view of increase in the number of tourists heading to the country’s northern areas due to summer...

Updated 05 Jun, 2023 08:47am

PPP bags 155 seats, JI 130 as KMC’s: special seat election phase concludes

KARACHI: Pakistan People’s Party has bagged 155 seats in the city council after election on reserved seats...

Published 05 Jun, 2023 03:27am

Dargah Jahanian Shah: minister inaugurates renovation work

HYDERABAD: The Sindh Minister for Minority Affairs Gianchand Esrani has inaugurated the expansion and renovation ...

Published 05 Jun, 2023 03:27am

Sherry highlights devastating consequences of plastic pollution

ISLAMABAD: On the occasion of World Environment Day 2023, Federal Minister for Climate Change & Environmental...

Published 05 Jun, 2023 03:27am

MoU inked on establishment of interim setup for IBDP

PESHAWAR: A memorandum of understanding (MoU) was signed between Khyber Pakhtunkhwa Economic Zones Development &...

Published 05 Jun, 2023 03:27am

Taxes

Increased excise duty on juices: Fruit farmers in Punjab, KP, G-B adversely impacted

ISLAMABAD: Fruit farmers in Punjab, Khyber Pakhtunkhwa, Gilgit Baltistan have been severely impacted following a...

Published 05 Jun, 2023 03:27am

Stocks

Wall St rises after jobs data; debt default averted

NEW YORK: US stock indexes rose on Friday after jobs data showed a moderation in wage growth, boosting bets that the...

Published 05 Jun, 2023 03:27am

Sindh to build world-class tourist centre at Keenjhar Lake

KARACHI: Sindh Energy Minister Imtiaz Ahmed Shaikh has said that the provincial government had decided to build a...

Published 05 Jun, 2023 03:27am

Budget must revolve around objective of job creation: PDP

KARACHI: Pasban Democratic Party (PDP) Chairman Altaf Shakoor has said that the coming budget must revolve around ...

Published 05 Jun, 2023 03:27am

Cricketer Laiba Nasir thanks family support

LAHORE: At just 17 years old, Laiba Nasir has already left an indelible mark on Pakistan’s cricketing landscape ...

Published 05 Jun, 2023 03:27am

Real Madrid great Benzema to leave club

MADRID: Real Madrid striker Karim Benzema has agreed a deal to leave the club, the Spanish giants said Sunday. The...

Published 05 Jun, 2023 03:27am

Djokovic eases into record 17th French Open quarter-final

PARIS: Novak Djokovic reached his 55th Grand Slam quarter-final and record 17th at the French Open on Sunday with a...

Published 05 Jun, 2023 03:27am

Australia’s Hazlewood out of WTC final, Neser called up

SYDNEY: Australian pace spearhead Josh Hazlewood was ruled out on Sunday of this week’s World Test Championship...

Published 05 Jun, 2023 03:27am

French Open pair Kato, Sutjiadi disqualified after ballgirl hit

PARIS: Miyu Kato and Aldila Sutjiadi were disqualified from the French Open on Sunday after a ballgirl was...

Published 05 Jun, 2023 03:27am

Khachanov into French Open quarter-final for second time

PARIS: Russian 11th seed Karen Khachanov reached the French Open quarter-finals for the second time on Sunday with a...

Published 05 Jun, 2023 03:27am

Int’l Karate champion receives warm reception

QUETTA: Shahzaib Rind, who made history after becoming the first-ever Pakistani to bag Karate Combat Pro Fight in ...

Published 05 Jun, 2023 03:27am

Badminton: South Korea’s An wins Thailand Open final

BANGKOK: Badminton women’s singles world number two An Se-young smashed home victory at the final of the Thailand...

Published 05 Jun, 2023 03:27am

Man Utd still have progress to make in bid to restore former glory, says Ten Hag

BENGALURU: June 2 (Reuters) - Erik ten Hag wants to bring the glory days back to Manchester United but the Premier...

Published 05 Jun, 2023 03:27am

Stipulation in agreement cannot override plain meaning of a provision of law, says law ministry

ISLAMABAD: Ministry of Law and Justice has held that stipulation in an agreement cannot override the plain meaning ...

Published 05 Jun, 2023 03:27am

The Weather

KARACHI: The weather report on Sunday (June 04, 2023) and the forecast for Monday (June 05, 2023)....

Published 05 Jun, 2023 03:27am

Rates

Futures spread up 565bps

KARACHI: The futures spread increased by 565bps to 15.56 percent on the last day of the outgoing week. Trading...

Published 05 Jun, 2023 03:27am

Rates

PSX witnesses positive trend

KARACHI: Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on June 02, 2023 due to...

Published 05 Jun, 2023 03:27am

ECC likely to approve Rs50bn TSGs today

Power Division seeks Technical Supplementary Grants of RS 9.145 billion

Updated 05 Jun, 2023 11:43am

Virtual pipeline LNG import terminal: Govt mulling granting tax exemptions

ISLAMABAD: The Federal Government is mulling granting tax exemptions to Virtual Pipeline LNG import terminal by...

Updated 05 Jun, 2023 08:49am

$5bn trade with Turkiye achievable in 3 years: PM

ISLAMABAD: Amidst reports that Pakistan needs to take timely decisions to avoid economic default in the coming weeks...

Updated 05 Jun, 2023 08:46am

AEDB grants 6-month LoI extension to two wind IPPs

ISLAMABAD: The Board of Alternative Energy Development Board (AEDB) has granted six months extension in Letter of...

Updated 05 Jun, 2023 08:46am

IK says will be tried in military court

LAHORE: Embattled former Prime Minister Imran Khan has said he had “no doubt” he would be tried in a military court...

Updated 05 Jun, 2023 11:26am

Saudi pledges big oil cuts in July as OPEC+ extends deal into 2024

VIENNA: Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into...

Updated 05 Jun, 2023 08:44am

Power supply to Balochistan and Sindh will improve: NTDC energises Guddu-Shikarpur transmission line

LAHORE: The National Transmission and Despatch Company Limited (NTDC) has achieved the successful replacement of a...

Updated 05 Jun, 2023 08:44am

Rates

PKR declines only marginally

KARACHI: The rupee depreciated marginally by 0.19% against the US dollar in the inter-bank market, settling at ...

Published 05 Jun, 2023 03:27am

Budget FY2023-24: OICCI seeks absolution from Super Tax

ISLAMABAD Overseas Investors Chamber of Commerce and Industry (OICCI) in its budget proposals has demanded ...

Published 05 Jun, 2023 03:27am

Taxes

Govt urged to channel tobacco tax revenue into social sector

Islamabad: Health experts have strongly proposed the government to allocate the revenue generated from tobacco taxes...

Published 05 Jun, 2023 03:27am

Enough is enough

EDITORIAL: Whilst the political and economic crises are deepening by the day there is no end in sight to the...

Published 05 Jun, 2023 03:27am

Monthly economic update

EDITORIAL: The release of the Economic Update and Outlook for the month of May, through a Whatsapp message to beat...

Published 05 Jun, 2023 03:27am

Prices of essential kitchen items show mixed trend

PESHAWAR: Prices of important kitchen items, except cooking oil/ghee, sugar, flour and others remained high-side in...

Published 05 Jun, 2023 03:27am

Small investors souring on China’s recovery

SHANGHAI/ SINGAPORE: The last great hope for China’s faltering post-pandemic rally is fading as the nation’s...

Published 05 Jun, 2023 03:27am

Stocks

HK stocks log biggest daily gain in 3 months

SHANGHAI: Hong Kong stocks are set to end a gloomy week with the best day in three months, joining an Asian rally...

Published 05 Jun, 2023 03:27am

Commodities

Copper limps towards first weekly gain since April

LONDON: Copper was heading for its first weekly gain in seven weeks on Friday but the day’s upward progress ...

Published 05 Jun, 2023 03:27am

Energy

Oil gains 2pc after US debt deal and jobs data

NEW YORK: Oil prices rose about 2% on Friday after the US Congress passed a debt ceiling deal that averted a...

Published 05 Jun, 2023 03:27am

Commodities

Gold slips as yields gain after US payrolls rise

NEW YORK: Gold slipped on Friday as hotter-than-expected US jobs data lifted Treasury yields, though it was on track...

Published 05 Jun, 2023 03:27am

Commodities

Palm oil ends 3pc higher on stronger rivals

KUALA LUMPUR: Malaysian palm oil futures closed higher on Friday for a second straight session, as stronger rival...

Published 05 Jun, 2023 03:27am

Stocks

European shares log best day in two months

PARIS: European shares clocked their best one-day gain on Friday as investors took comfort from easing euro zone...

Published 05 Jun, 2023 03:27am

Stocks

Indian shares post weekly gains on Fed pause hopes

BENGALURU: Indian shares closed higher on Friday, driven by a jump in Hero MotoCorp Ltd , following strong monthly...

Published 05 Jun, 2023 03:27am

Cotton & Textile

Weekly Cotton Review: Rates decline amid growing unease in textile sector

KARACHI: The rate of cotton decreased by Rs 1,000, while the rate of Phutti decreased by Rs 2,000, Banola by Rs ...

Published 05 Jun, 2023 03:27am

Symmetry Group gets SECP approval, announces launch of IPO

KARACHI: Symmetry Group Limited, a renowned digital technology and experiences company based in Pakistan,...

Published 05 Jun, 2023 03:27am

Energy

Renewable energy capacity additions to hit record: IEA

PARIS: Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy ...

Published 05 Jun, 2023 03:27am

Canadian economy grew 3.1pc in first quarter

OTTAWA: Canada’s economy grew by a higher-than-expected 3.1 percent in the first quarter after remaining...

Published 05 Jun, 2023 03:27am

Majority of EU countries against network fee levy on Big Tech

BRUSSELS: A majority of EU countries have rejected a push by Europe’s big telecoms operators to force Big Tech to...

Published 05 Jun, 2023 03:27am

Taxes

Spectrum fee, local handset manufacturing applications: Telecom operators propose tax breaks

ISLAMABAD: Telecom operators have proposed the government to adopt a model to earn with 5G developments instead of...

Published 05 Jun, 2023 03:27am

Rates

Automart: car prices in Karachi

KARACHI: The prices of different makes and models of cars prevailing in Karachi in the week ended Sunday (June 04,...

Published 05 Jun, 2023 03:27am

Rates

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last week. (May 29 to June...

Published 05 Jun, 2023 03:27am

Industry

KPEC, EZDMC ink deal to set up gender inclusive business park

PESHAWAR: Khyber Pass Economic Corridor (KPEC) in collaboration with Khyber Pakhtunkhwa Economic Zones Develop-ment...

Published 05 Jun, 2023 03:27am

Industry

6th Edition of ‘Leaders In Islamabad Business Summit’ concludes

ISLAMABAD: Nutshell Conferences Group and Martin Dow Group, in strategic partnership with Overseas Investors Chamber...

Published 05 Jun, 2023 03:27am

Industry

Sustainable agriculture: experts say ‘AgriTech’ only solution

HYDERABAD: National and international experts have expressed that food security is a threat due to the shrinking ...

Published 05 Jun, 2023 03:27am

Industry

Terror-hit trader community: SCCI demands special economic relief package thru budget

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) demanded the government to announce a special economic...

Published 05 Jun, 2023 03:27am

Companies

HP misses revenue estimates

NEW YORK: HP Inc missed Wall Street targets for second-quarter revenue on Tuesday as inflation-hit customers spent...

Published 05 Jun, 2023 03:27am

Companies

Rosneft’s Q1 net profit up

MOSCOW: First-quarter net profit of Russia’s largest oil producer Rosneft rose by 45.5% from the previous three...

Published 05 Jun, 2023 03:27am

Companies

Macy’s cuts annual forecasts as customers curb spending

BENGALURU: Macy’s Inc on Thursday cut full-year sales and profit forecasts, hurt by a slowdown in demand for...

Published 05 Jun, 2023 03:27am

Companies

Goldman Sachs to cut more jobs, eyes sharp fall in markets revenue

NEW YORK: Goldman Sachs Group Inc plans more workforce reductions as the difficult economic environment weighs on...

Published 05 Jun, 2023 03:27am

Companies

Philip Morris boss campaigns to sell more heated tobacco

LONDON: US tobacco giant Philip Morris International is fighting to get Britain, France and other countries to make...

Published 05 Jun, 2023 03:27am

Companies

Airline SAS predicts busy summer as loss shrinks

STOCKHOLM: Scandinavian airline SAS expects a “busy summer season”, it said on Thursday as it reported a reduced...

Published 05 Jun, 2023 03:27am

Money & Banking

HSBC to rename British arm of Silicon Valley Bank next month

BENGALURU: HSBC is set to announce next month that the UK arm of Silicon Valley Bank will be renamed HSBC Innovation...

Published 05 Jun, 2023 03:27am

Money & Banking

JPMorgan to close 21 First Republic Bank branches

NEW YORK: JPMorgan Chase & Co will shut 21 branches of First Republic Bank by the end of the year as it...

Published 05 Jun, 2023 03:27am

Companies

Foxconn predicts huge growth in AI server business

TAIPEI: Taiwanese tech giant and key Apple supplier Foxconn predicts three-digit growth for its artificial...

Published 05 Jun, 2023 03:27am

Money & Banking

US dollar edges higher after rise in May payrolls

WASHINGTON: The US dollar edged higher in choppy trading on Friday after May’s non-farm payrolls report showed...

Published 05 Jun, 2023 03:27am

Companies

Digital bill payments: K-Electric, Visa partner to empower consumers

KARACHI: In a first for Pakistan’s utilities, K-Electric has partnered with global payment leader Visa to work...

Published 05 Jun, 2023 03:27am

Money & Banking

‘No victory yet’, ECB says as inflation slows in key countries

FRANKFURT: Falling inflation in top eurozone economies is “positive” news, a senior European Central Bank...

Published 05 Jun, 2023 03:27am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 17	278.75
USD PKR Interbank Buying / Jan 17	278.65
USD to Japanese Yen / Jan 17	156.30
USD to Swiss Franc / Jan 17	0.92
Pound Sterling to USD / Jan 17	1.22
Euro to USD / Jan 17	1.03

Stock	Volume
S&P 500 / Jan 17	5,996.66
India Sensex / Jan 17	76,619.33
Tokyo Nikkei / Jan 17	38,451.46
Nasdaq / Jan 17	19,630.20
Hang Seng / Jan 17	19,584.06
FTSE 100 / Jan 17	8,505.22
Dow Jones / Jan 17	43,487.83
Germany DAX 30 / Jan 17	20,903.39

Item	Value
Crude Oil USD/Barrel / Jan 17	78.88
Karachi Cotton PKR/37.32 KG / Jan 17	18,785
Gold 10 Grams PKR / Jan 17	242,283
Gold Spot USD/Ounce / Jan 17	2,703.25
Cotton US¢/pound / Jan 17	67.60
Petrol/Litre / Jan 18	256.13

Gainers
Losers
Leaders

Stock	Price
Burj Clean Energy Modaraba / Jan 17 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.60 ▲ 1.00 (15.15%)
S.G.Power / Jan 17 S.G. Power Limited(SGPL)	9.51 ▲ 1.00 (11.75%)
Jahangir Sidd(Pref) / Jan 17 Jahangir Sidd(Pref)(JSCLPSA)	10.50 ▲ 1.00 (10.53%)
AN Textile Mill / Jan 17 AN Textile Mills Limited(ANTM)	12.82 ▲ 1.17 (10.04%)
Jah.Sidd. Co. / Jan 17 Jahangir Siddiqui & Co. Ltd.(JSCL)	23.62 ▲ 2.15 (10.01%)
Agritech Non-voting / Jan 17 Agritech Non-Voting Preference(AGLNCPS)	24.20 ▲ 2.20 (10.00%)
Arif Habib Ltd. / Jan 17 Arif Habib Limited(AHL)	66.21 ▲ 6.02 (10.00%)
Bilal Fibres / Jan 17 Bilal Fibres Limited(BILF)	15.95 ▲ 1.45 (10.00%)
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	77.09 ▲ 7.01 (10.00%)

Stock	Price
JS Global Banking / Jan 17 JS Global Banking Sector (ETF)(JSGBETF)	19.77 ▼ -2.75 (-12.21%)
First Capital Equities / Jan 17 First Capital Equities Limited(FCEL)	5.35 ▼ -0.72 (-11.86%)
Tariq Corp.Pref. / Jan 17 Tariq Corporation Limited-Preference Shares(TCORPCPS)	7 ▼ -0.88 (-11.17%)
Service Textile / Jan 17 Service Industries Textiles Limited(SERT)	14.98 ▼ -1.66 (-9.98%)
Gulshan Sp. / Jan 17 Gulshan Spinning Mills Limited(GSPM)	4.01 ▼ -0.43 (-9.68%)
Zahid Jee Textile / Jan 17 Zahidjee Textile Mills Limited(ZAHID)	27.51 ▼ -2.70 (-8.94%)
Mandviwala / Jan 17 Mandviwala Mauser Plastic Industries(MWMP)	21.50 ▼ -2.00 (-8.51%)
Universal Ins. / Jan 17 The Universal Insurance Company Limited(UVIC)	9.23 ▼ -0.65 (-6.58%)
Tata Textile / Jan 17 Tata Textile Mills Limited(TATM)	47.10 ▼ -2.80 (-5.61%)

Stock	Volume
WorldCall Telecom / Jan 17 Worldcall Telecom Limited(WTL)	103,704,415 ▲ 0.01
Cnergyico PK / Jan 17 Cnergyico PK Limited(CNERGY)	37,108,232 ▲ 0.04
Hub Power Co. / Jan 17 The Hub Power Company Limited(HUBC)	36,743,585 ▲ 5.79
Hascol Petrol / Jan 17 Hascol Petroleum Limited(HASCOL)	32,265,861 ▲ 0.83
Dewan Motors / Jan 17 Dewan Farooque Motors Limited(DFML)	28,402,498 ▲ 2.84
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	24,195,904 ▲ 7.01
Pak Refinery / Jan 17 Pakistan Refinery Limited(PRL)	17,625,081 ▲ 0.94
Fauji Foods Ltd / Jan 17 Fauji Foods Limited(FFL)	16,675,539 ▲ 0.30
K-Electric Ltd. / Jan 17 K-Electric Limited(KEL)	16,024,776 ▲ 0.09

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