News Archives for 2024-04-04 - Business Recorder

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Archive - 2024-04-04

Biden, Israel’s Netanyahu speak after strike kills food aid workers

WASHINGTON: U.S. President Joe Biden spoke with Israeli Prime Minister Benjamin Netanyahu on Thursday, three days...

Published 04 Apr, 2024 11:24pm

Europe

Family of Pole killed in Gaza should get compensation from Israel, Poland says

WARSAW: Israel should apologise and pay compensation to the family of a Polish national who was among seven aid...

Published 04 Apr, 2024 11:08pm

Canada’s trade surplus jumps due to record gold exports

OTTAWA: Canada’s trade surplus soared in February, mainly due to “all-time high” exports of gold, Statistics Canada...

Published 04 Apr, 2024 09:49pm

Stocks

Gulf markets join global rally on Fed rate cut hopes; Qatar leads

Stock markets in the Gulf tracked global peers higher on Thursday, led by the Qatar index, as the optimism around...

Published 04 Apr, 2024 09:16pm

Stocks

UK stocks climb on boost from auto, mining stocks after upbeat data

British stocks ended higher on Thursday, helped by auto stocks and mining shares, while data showing the domestic...

Published 04 Apr, 2024 09:12pm

Energy

Oil steady, bolstered by lower supply concerns

LONDON: Oil prices were steady on Thursday, shored up by concerns about lower supply as major producers keep output...

Updated 04 Apr, 2024 09:09pm

Hafiz Naeem elected new chief of Jamaat-e-Islami

Hafiz Naeem ur Rehman on Thursday was elected as the new chief (emir) of the Jamaat-e-Islami Pakistan (JI) for a...

Updated 04 Apr, 2024 07:48pm

Companies

LHC’s decision to help boost Pakistan’s pharma sector: brokerage house

The Lahore High Court’s (LHC) decision to nullify the stayorder against the deregulation of Maximum Retail Prices...

Updated 04 Apr, 2024 07:40pm

Pakistan rules out talks with TTP

Pakistan ruled out on Thursday talks with Tehreek-e-Taliban Pakistan (TTP), saying that it expects the Afghan...

Updated 04 Apr, 2024 07:39pm

‘Anthrax-laced’ letters sent to judges: PM Shehbaz assures of investigation

Prime Minister Shehbaz Sharif said on Thursday that an investigation will be conducted into letters with suspicious...

Updated 04 Apr, 2024 07:39pm

Govt formally announces Eid-ul-Fitr holidays

The government announced on Thursday a three and four-day holiday for Eid-ul-Fitr for offices observing five and six...

Updated 04 Apr, 2024 07:38pm

Companies

Sale of thermal assets: Engro Energy Limited enters into definitive agreements

Engro Corp. says transaction value of each of EEL’s shareholdings is: (1) EPQL: Rs7.5bn (2) EPTL: Rs21.04bn and (3) SECMC: Rs6.21bn

Updated 04 Apr, 2024 07:38pm

Stocks

US stocks rebound after sluggish start to Q2

NEW YORK: Wall Street stocks climbed early Thursday, rebounding after a sluggish start to the second quarter as US...

Published 04 Apr, 2024 07:36pm

Forex

Rupee largely stable against US dollar

Currency settles at 277.93 against the greenback in inter-bank market

Updated 04 Apr, 2024 07:27pm

Forex

SBP-held foreign exchange reserves increase $19mn, now stand at $8.04bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $19 million on a weekly basis,...

Published 04 Apr, 2024 07:24pm

US trade gap grows in February to highest level since April 2023

WASHINGTON: The US trade deficit expanded in February by more than analysts expected to reach its highest level...

Published 04 Apr, 2024 06:42pm

Business & Economy

Pakistan’s central govt debt decreases marginally in February: SBP

Major decrease witnessed in central government external debt and short-term domestic debt

Updated 04 Apr, 2024 06:31pm

Pakistan condemns terror attacks in Iran

10 security personnel killed in attacks in southeastern Iran

Published 04 Apr, 2024 06:28pm

Russian, Chinese envoys call on President Zardari, discuss bilateral relations

President Asif Ali Zardari on Thursday said that Pakistan desired to enhance bilateral cooperation with Russia,...

Updated 04 Apr, 2024 06:03pm

Ferdinand warns Rashford may have to leave Man Utd to reignite career

LONDON: Rio Ferdinand believes Marcus Rashford may have to leave Manchester United if the England forward is to...

Published 04 Apr, 2024 05:50pm

Zinchenko believes there’s room at the top for Arsenal

LONDON: Oleksandr Zinchenko reckons Arsenal’s pursuit of Premier League and European glory has proved they can live...

Published 04 Apr, 2024 05:46pm

South Asia

Taliban govt urges Islamabad to show restraint over Afghan migrants

KABUL: Taliban authorities urged Pakistan on Thursday not to make a unilateral decision on repatriating Afghan...

Published 04 Apr, 2024 05:42pm

WTA Finals to be held in Saudi Arabia from 2024-2026

The season-ending WTA Finals will be held in Saudi Arabia’s capital Riyadh from 2024-2026, the women’s tennis body...

Published 04 Apr, 2024 05:36pm

Money & Banking

ECB accounts show firming case for rate cuts

FRANKFURT: European Central Bank policymakers are increasingly confident that inflation is heading back to their 2%...

Published 04 Apr, 2024 05:27pm

Commodities

Asia rice: India rates grind to 2-month low on soft demand

Prices of parboiled rice exported from top hub India slipped to their lowest level since early February this week,...

Published 04 Apr, 2024 05:16pm

Bullion Rate

Gold tops Rs241,000/tola in Pakistan as it nears all-time high

Gold continued its merry run in Pakistan on Thursday in line with the record increase in the international rate. In...

Updated 04 Apr, 2024 05:15pm

South Asia

Israel boosts defences after Iran revenge threat

JERUSALEM: The Israeli military halted leave for all combat units on Thursday amid concerns of a possible escalation...

Published 04 Apr, 2024 05:08pm

Asia

Yellen in China to press officials on industrial subsidies

GUANGZHOU: US Treasury Secretary Janet Yellen arrived in China’s Guangzhou on Thursday for meetings to press Beijing...

Published 04 Apr, 2024 04:57pm

USA

US layoffs reach 14-month high amid government, tech cutbacks

NEW YORK: U.S. layoff announcements rose 7% in March to the highest since January 2023, led by technology and...

Published 04 Apr, 2024 04:55pm

Guardiola expects Premier League title race to go to the wire

LONDON: Manchester City manager Pep Guardiola has told his side to prepare for another Premier League title race...

Published 04 Apr, 2024 04:52pm

Stocks

Financials, IT power Indian shares to record closing high ahead of RBI rate decision

BENGALURU: Indian shares bounced back from a bout of profit-booking and settled at record closing highs on Thursday,...

Published 04 Apr, 2024 04:51pm

Europe

Russian air attacks kill six in northeast Ukraine

KYIV: Russian air attacks killed six people in northeast Ukraine on Thursday, authorities said, as President...

Published 04 Apr, 2024 04:49pm

Stocks

Sri Lanka shares end higher as financials gain

CSE All-Share index settled 0.63% higher at 11,698.49

Published 04 Apr, 2024 04:49pm

Commodities

Copper hits 14-month high on fund buying and softer dollar

LONDON: Copper prices hit their highest in more than 14 months on Thursday, helped by fund buying after the U.S....

Published 04 Apr, 2024 04:47pm

Stocks

Europe stocks rise on eve of US payrolls; gold shines

LONDON: European equities rose Thursday on the eve of key US data, while gold set another record peak on haven...

Updated 04 Apr, 2024 04:45pm

Commodities

Palm ends lower on profit taking; market awaits inventory data

JAKARTA: Malaysian palm oil futures dipped on Thursday, snapping a four-session rally amid profit taking and lower...

Published 04 Apr, 2024 04:44pm

Europe

Macron denounces ‘threatening’ remarks from Russia after rare phone talks

SAINT-DENIS: President Emmanuel Macron on Thursday denounced as “bizarre and threatening” Russia’s tone following...

Published 04 Apr, 2024 04:43pm

Money & Banking

Bank holidays: SBP announces three-day closure for Eid-ul-Fitr 2024

The State Bank of Pakistan (SBP) announced on Thursday a three-day holiday on account of Eid-ul-Fitr. “The State...

Published 04 Apr, 2024 04:26pm

Stocks

Pakistan Stock Exchange (PSX) announces Eid holidays

The Pakistan Stock Exchange Limited (PSX) has announced that it will be closed from Wednesday, April 10, 2024, to...

Published 04 Apr, 2024 04:26pm

Cotton & Textile

Month-on-month: cotton arrival in Pakistan stagnates in March

However, on yearly basis, cotton arrival surges 71%

Updated 04 Apr, 2024 03:41pm

Stocks

KSE-100 hits new peak, settles above 68,000 for the first time

The bullish wave continued at the Pakistan Stock Exchange (PSX) on Thursday as its key benchmark index ended at a...

Updated 04 Apr, 2024 03:39pm

Gwadar flooding: govt should take climate change more seriously

Gwadar’s people have had a difficult start to the new year due to environmental challenges. Gwadar sustained...

Published 04 Apr, 2024 03:31pm

Europe

Kremlin says Russia and NATO are now in ‘rect confrontation’

MOSCOW: Russia and NATO are now in “direct confrontation”, the Kremlin said as the US-led alliance marked its 75th...

Published 04 Apr, 2024 03:25pm

MENA

Health ministry in Hamas-run Gaza says war death toll at 33,037

GAZA STRIP: The health ministry in Hamas-run Gaza said Thursday that at least 33,037 people have been killed in the...

Published 04 Apr, 2024 03:18pm

Stocks

Major Gulf markets up in early trade on Fed rate hopes

Major stock markets in the Gulf were up in early trade on Thursday on optimism about potential US interest rate...

Published 04 Apr, 2024 02:31pm

Forex

South African rand strengthens against softer dollar

JOHANNESBURG: South Africa’s rand strengthened early on Thursday against a softer dollar, shrugging off a...

Published 04 Apr, 2024 02:23pm

Forex

Kenyan shilling reaches strongest this year at 129.50 per dollar

NAIROBI: The Kenyan shilling hit its strongest this year on Thursday to bid at 129.50 and while traders said it was...

Published 04 Apr, 2024 02:21pm

Forex

Ugandan shilling little-changed, expected to firm

KAMPALA: The Ugandan shilling was little-changed on Thursday but was expected to firm due to dollar inflows from...

Published 04 Apr, 2024 02:16pm

Stocks

London stocks edge higher with economic data in focus

British stocks edged higher on Thursday supported by a rise in precious metal miners, while caution prevailed ahead...

Published 04 Apr, 2024 01:33pm

Paris museums getting into Olympic groove

PARIS: Between events, the 14 million visitors expected in Paris during the Olympics will have the opportunity to...

Published 04 Apr, 2024 01:25pm

Volvo Cars posts record March sales

COPENHAGEN: Volvo Cars’ sales rose 25% in March from a year earlier to 78,970 cars, reaching an all-time high for...

Published 04 Apr, 2024 01:11pm

Europe

Russia says power line to Zaporizhzhia nuclear plant down, no change in radiation level

MOSCOW: A high-voltage power line supplying the Russian-occupied Zaporizhzhia nuclear power plant in Ukraine has...

Published 04 Apr, 2024 01:07pm

Eid holidays announced

The original story, filed by news agency NNI, erroneously mentioned the public holidays, and has been corrected

Updated 04 Apr, 2024 12:59pm

Wirtz hits double as Leverkusen reach German Cup final

LEVERKUSEN: Florian Wirtz scored goals in each half as Bayer Leverkusen thrashed Fortuna Duesseldorf 4-0 at home on...

Published 04 Apr, 2024 12:33pm

Kylian Mbappe strike takes PSG through to French Cup final

PARIS: Kylian Mbappe had a penalty saved but then scored the only goal of the game as Paris Saint-Germain beat...

Published 04 Apr, 2024 12:25pm

Europe

10 key moments in the Israel-Hamas war

PARIS: On October 7, members of the Palestinian group Hamas launched an attack on southern Israel that resulted in...

Published 04 Apr, 2024 12:22pm

James Cameron – childhood drawings and dreams inspired Hollywood blockbusters

PARIS: James Cameron, the mastermind behind “The Terminator”, “Aliens” and “Titanic”, has an exhibition opening in...

Published 04 Apr, 2024 12:15pm

Asia

Magnitude-6.0 quake shakes northeast Japan, no tsunami alert

TOKYO: A magnitude-6.0 earthquake struck off northeastern Japan’s Fukushima region on Thursday, the Japan...

Published 04 Apr, 2024 12:11pm

South Asia

Online hate sows Muslim fears as India votes

HALDWANI: After his brother was murdered in anti-Muslim riots, Pervez Qureshi watched the videos he believes incited...

Published 04 Apr, 2024 10:53am

The Crookie: the French pastry craze that took over TikTok

PARIS: A bemused Paris bakery owner has been besieged by smartphone-wielding youngsters over the past year, keen to...

Published 04 Apr, 2024 10:44am

Miami, without Messi, falls 2-1 in first leg to Monterrey

FORT LAUDERDALE: Inter Miami, without Lionel Messi, lost 2-1 at home to Mexico’s Monterrey in the first leg of their...

Published 04 Apr, 2024 10:42am

Asia

Taiwan earthquake injuries top 1,000, missing hotel workers found

HUALIEN: The number of people injured in a 7.2 magnitude earthquake in eastern Taiwan climbed past 1,000 on Thursday...

Updated 04 Apr, 2024 10:40am

USA

Trump spoke recently with MBS, New York Times reports

WASHINGTON: Republican US presidential candidate Donald Trump recently spoke with Saudi Crown Prince Mohammed bin...

Published 04 Apr, 2024 10:29am

Israeli explanation for aid workers deaths ‘not good enough’, Australia PM says

SYDNEY: Israel’s explanation for the deaths from an air strike in Gaza of seven aid workers, including Australian...

Published 04 Apr, 2024 10:28am

LATAM Airlines to start process of re-listing shares on NYSE

LATAM Airlines said on Wednesday its board gave approval to begin the process of re-listing American Depositary...

Published 04 Apr, 2024 10:23am

Commodities

Japan’s Toho Zinc sees 4.3% drop in H1 zinc output y/y

TOKYO: Toho Zinc Co Ltd, Japan’s third-biggest zinc smelter, said on Thursday that it plans to produce 34,200 metric...

Published 04 Apr, 2024 10:16am

Sara Errani reaches Bogota quarters

Italy’s Sara Errani emerged from a break-filled match against Spain’s Sara Sorribes Tormo with a 6-2, 4-6, 6-4...

Published 04 Apr, 2024 10:14am

Stocks

South Korean stocks gain on US Fed comments

SEOUL: Round-up of South Korean financial markets: South Korea leads Asian shares higher with US CPI data in sight...

Published 04 Apr, 2024 10:10am

Forex

Indian rupee may slide to record low despite dollar fall post Powell’s comments

MUMBAI: The Indian rupee may drop to a record low at the open on Thursday despite Federal Reserve Chair Jerome...

Published 04 Apr, 2024 10:08am

Forex

Australia, NZ currencies rebound as US dollar skids ahead of payrolls

SYDNEY: The Australian and New Zealand dollars rebounded on Thursday as their US counterpart fell broadly after data...

Published 04 Apr, 2024 10:07am

Commodities

Palm extends gains on Chicago soyoil strength; Dalian closed

JAKARTA: Malaysian palm oil futures rose on Thursday for a fifth straight session, tracking gains in rival soyoil...

Published 04 Apr, 2024 10:06am

Stocks

Japan’s Nikkei rises sharply after profit-taking in new fiscal year

TOKYO: Japan’s Nikkei share average rose sharply on Thursday, as investors scooped up stocks, following a heavy...

Published 04 Apr, 2024 10:04am

USA

Lloyd Austin speaks with Israel’s Gallant after aid worker deaths

WASHINGTON: US Secretary of Defence Lloyd Austin on Wednesday urged Israel to take concrete steps to protect aid...

Published 04 Apr, 2024 10:00am

Mutual Funds

Indian bond yields seen steady as focus shifts to cenbank decision

MUMBAI: Indian government bond yields are expected to be largely unchanged early on Thursday, as investors await the...

Published 04 Apr, 2024 09:58am

Europe

Russian drone attack kills at least four in Ukraine’s Kharkiv, officials say

Russian drones hit high-rise apartment blocks and private homes early on Thursday in Kharkiv, Ukraine’s second...

Published 04 Apr, 2024 09:56am

USA

US says it destroyed anti-ship ballistic missile, two drones launched by Houthis

WASHINGTON: The US military said on Wednesday that it destroyed one inbound anti-ship ballistic missile and two...

Published 04 Apr, 2024 09:55am

Commodities

Corn rises for 2nd session on fund buying, market eyes US planting

SINGAPORE: Chicago corn gained more ground on Thursday as investor buying supported prices, which hit a one-month...

Published 04 Apr, 2024 09:48am

Philippines lowers GDP growth target range for 2024

MANILA: The Philippines lowered its growth target range for 2024 to 6.0%-7.0% from 6.5%-7.5% previously, due to...

Published 04 Apr, 2024 09:47am

Thai central bank seen cutting rates 50 bps this year, bond market survey shows

BANGKOK: Thailand’s central bank is expected to cut rates twice this year starting in June, reducing interest rates...

Published 04 Apr, 2024 09:46am

Stocks

Indian shares track rebound in Asian peers, set to open higher

BENGALURU: Indian shares are set to open higher on Thursday, as markets track a rebound in Asian peers, supported by...

Published 04 Apr, 2024 09:44am

Stocks

Nikkei leads Asia higher as yen skids; commodities in demand

SYDNEY: Asian shares rallied on Thursday as US rate cuts remained on the menu, even if their timing was unclear,...

Published 04 Apr, 2024 09:43am

Stocks

Financials, rate-cut bets drive Australian shares higher

Australian shares climbed higher on Thursday, supported by financials and commodities, as softer-than-expected US...

Published 04 Apr, 2024 09:41am

Forex

Dollar takes a breather ahead of US jobs data

SINGAPORE: The dollar was pinned beneath recent peaks on Thursday with traders taking remarks from Federal Reserve...

Published 04 Apr, 2024 09:40am

Bullion Rate

Gold prices touch record high after Powell’s comments

Gold surged to a record high on Thursday, as Federal Reserve Chair Jerome Powell underlined that recent job gains...

Published 04 Apr, 2024 09:38am

20 backward districts: Off-grid power solutions may be provided

Government initiates 'Special Development Initiative for Poor Districts of Pakistan'

Updated 04 Apr, 2024 09:35am

‘Unfriendly treatment’ being meted out to S. Korean firms: Pakistan’s envoy unhappy with ministries

ISLAMABAD: Pakistan’s ambassador to South Korea is reportedly unhappy with the ministries for their unfriendly...

Updated 04 Apr, 2024 09:33am

Apple services restored after brief outages globally

Issues with Apple services including its App Store, video and music streaming platforms Apple TV+ and Apple Music,...

Published 04 Apr, 2024 09:33am

CJP, 4 other SC judges too receive ‘anthrax-laced’ letters

ISLAMABAD: Chief Justice of Pakistan (CJP) Qazi Faez Isa and four judges of the Supreme Court also received what the...

Updated 04 Apr, 2024 09:33am

President, army chief take stock of security situation

ISLAMABAD: Chief of Army Staff (COAS) General Syed Asim Munir met with President Asif Ali Zardari and discussed the...

Updated 04 Apr, 2024 09:33am

‘Reserved seats issue’: PHC issues contempt notice to KP PA speaker, deputy speaker

PESHAWAR: Over the issue of not administration of oath on reserved seats in the Khyber Pakhtunkhwa (KP) Assembly,...

Updated 04 Apr, 2024 09:32am

KE, govt entities: FD shares details of disputed unpaid subsidy claims for mediation

ISLAMABAD: The Finance Division is said to have shared the details of disputed unpaid subsidy claims of over Rs66...

Updated 04 Apr, 2024 09:07am

Probe into slow-moving TTS: Termination of present vendor also an option

ISLAMABAD: An inquiry committee constituted by the Prime Minister to investigate the Track and Track System (TTS)...

Updated 04 Apr, 2024 09:06am

NLC trucks reach Dushanbe with potato shipment

ISLAMABAD: A convoy of National Logistics Corporation (NLC) trucks covering a distance of over 1,400 kilometres...

Updated 04 Apr, 2024 09:05am

Federal ministers: PM allocates additional portfolios

ISLAMABAD: Prime Minister Shehbaz Sharif has allocated additional portfolios of five ministries to the current...

Updated 04 Apr, 2024 09:04am

CJP hints at full court to hear IHC judges’ complaint

ISLAMABAD: Chief Justice of Pakistan Qazi Faez Isa reiterated that the interference of the executive, of any kind,...

Updated 04 Apr, 2024 09:04am

PM seeks induction of tech advisors from private sector into public sector

ISLAMABAD: Prime Minister Shehbaz Sharif has chaired a meeting regarding the induction of technical advisors and...

Updated 04 Apr, 2024 09:03am

BR’s refresher: your morning briefing for the day

Important updates from April 3, 2024

Published 04 Apr, 2024 09:00am

Rising textile NPLs: who is on the hook?

Not all commercial banks are created equals. And some are certainly better capitalized than others. As the economy...

Published 04 Apr, 2024 06:10am

Dawood Lawrencepur Limited

Dawood Lawrencepur Limited (PSX: DLL) was incorporated in Pakistan as a public listed company in 2004. The company...

Published 04 Apr, 2024 06:05am

PARTLY FACETIOUS: Our system exacts a heavy price from spouses

“My question is why would anyone try to poison The Third Wife?” “She reckons some of you Khanzadehs are...