BR100 3,606 Increased By ▲ 16 (0.45%)
BR30 18,361 Increased By ▲ 7 (0.04%)
KSE100 35,051 Increased By ▲ 73 (0.21%)
KSE30 15,203 Increased By ▲ 45 (0.3%)
COVID-19 TOTAL DAILY
CASES 221,896 4087
DEATHS 4,551 78
Sindh 89,225 Cases
Punjab 78,956 Cases
Balochistan 10,666 Cases
Islamabad 13,195 Cases
KP 27,170 Cases
Canada's biggest banks join boycott of Facebook platforms
Business

Canada's biggest banks join boycott of Facebook platforms

  • More than 400 brands have pulled advertising on Facebook in response to the "Stop Hate for Profit" campaign.
  • BMO said it is continuing its "ongoing dialogue with Facebook on changes they can make to their platforms to reduce the spread of hate speech."
Published Jul 03, 2020 09:22pm
Sterling heads for first weekly win against dollar in four
Markets

Sterling heads for first weekly win against dollar in four

  • "The more consolidative tone of the pound is likely related to the fact that it is the worst performing G10 currency on a 1 month view - investors are likely pausing and evaluating new news."
  • Brexit talks this week between Britain and the EU ended early on Thursday, with a meeting between the chief negotiators on Friday cancelled.
Published Jul 03, 2020 08:46pm
Britain's Tesco demands supplier price cuts by July 10
Business

Britain's Tesco demands supplier price cuts by July 10

  • The source said the move by Tesco forms part of its shift to a so-called everyday low pricing (EDLP) strategy, which will see it use fewer promotions.
  • A Tesco spokesman declined to comment on the July 10 date, but said the group had been speaking to suppliers about its strategy going forward.
Published Jul 03, 2020 08:31pm
TSX dips as surging virus cases dim recovery hopes
Markets

TSX dips as surging virus cases dim recovery hopes

  • The United States reported more than 55,000 new COVID-19 cases on Thursday, a new daily global record for the pandemic.
  • The index was still on course to close higher on the week after being earlier boosted by data showing a jump in May exports.
Published Jul 03, 2020 08:28pm
South Africa's Capitec forecasts 70pc profit fall in blow to shares
Business

South Africa's Capitec forecasts 70pc profit fall in blow to shares

  • Capitec, which had forecast a drop of at least 20% in first-half profit in May, said it expects headline earnings per share.
  • mainly due to 5.75 billion rand ($338 million) and 236 million rand in retail and business credit balances being rescheduled or granted payment breaks due to the lockdown.
Published Jul 03, 2020 08:16pm
Gold flat as virus fears offset gains in equities
Markets

Gold flat as virus fears offset gains in equities

  • Positive US jobs, Chinese services data push stocks higher.
  • Platinum eyes first weekly rise in six.
  • Silver on track for fourth straight weekly gain.
  • Interactive graphic tracking global spread of coronavirus.
Published Jul 03, 2020 07:32pm
Raw sugar gains on improved macro data, China import hopes
Markets

Raw sugar gains on improved macro data, China import hopes

  • October raw sugar edged up 0.07 cents, or 0.6%, to 12.24 cents per lb at 1211 GMT, having matched Thursday's 2-1/2 week peak of 12.25 cents earlier.
  • September arabica coffee fell 0.9 cents, or 0.9%, to $1.031 per lb, having hit its highest in more than a month earlier this week.
Published Jul 03, 2020 07:23pm
UBI cuts 2022 profit forecast, ups potential dividends
Business

UBI cuts 2022 profit forecast, ups potential dividends

  • Intesa is offering investors 1.7 newly issued shares for each UBI share in an effort to create the euro zone's seventh-largest banking group.
  • UBI said it now saw its 2022 net profit at 562 million euros, down from the previous 665 million euro estimate.
Published Jul 03, 2020 07:04pm
Rouble hits lowest level against dollar since late May
Markets

Rouble hits lowest level against dollar since late May

  • Oil prices reversed earlier gains as a resurgence of cases of the novel coronavirus sparked concerns that fuel demand growth could stall.
  • Brent crude oil, a global benchmark for Russia's main export, was down 1.2% at $42.62 a barrel by 1300 GMT.
Published Jul 03, 2020 06:54pm
No reason to doubt integrity of 2011 World Cup final, says ICC
Sports

No reason to doubt integrity of 2011 World Cup final, says ICC

  • Former Sri Lanka sports minister Mahindananda Aluthgamage said last month that the final, which India won against Sri Lanka by six wickets in Mumbai, was fixed by "certain parties".
  • At this time, we have not been presented with any evidence that supports the claims made or which would merit launching an investigation under the ICC Anti-Corruption Code.
Published Jul 03, 2020 06:51pm
LHC dismisses former ATC judge Arshad Malik
Pakistan

LHC dismisses former ATC judge Arshad Malik

  • Maryam Nawaz had unveiled a video clip in which ex-accountability judge Arshad Malik said that there was “no proof of corruption against the deposed premier” in the December 24 Al-Azizia reference
Published Jul 03, 2020 06:41pm
English counties allowed to field two overseas players from 2021
Sports

English counties allowed to field two overseas players from 2021

  • There is an important balance to be struck to ensure the need for good foreign players in county cricket and providing opportunity for nine England-qualified players in each county team.
  • The change will not affect the Vitality Blast T20 competition which already allows teams to field two foreign players.
Updated Jul 03, 2020 06:49pm
Copper rally runs out of steam on worries about China demand
Markets

Copper rally runs out of steam on worries about China demand

  • Copper has been the top gainer on the London Metal Exchange in recent months, rebounding 40%.
  • The technical indicators are flashing overbought conditions and there are signals that global growth is stalling after the strong recovery we've had.
Published Jul 03, 2020 05:36pm
Dollar rises as risk appetite tempered by rising COVID-19 cases in US
Markets

Dollar rises as risk appetite tempered by rising COVID-19 cases in US

  • Against a basket of currencies, the dollar rose less than 0.1%, to 97.289 at 0948 GMT. It is still on track for its biggest weekly fall since the first week of June.
  • Such complacency still indicates the short-term outlook for risk assets is not lacking hurdles, but there is still a material chance we have seen the peak in the dollar.
Published Jul 03, 2020 05:28pm
Italian prosecutor says Eni, Shell aware of bribes in Nigeria case
Business

Italian prosecutor says Eni, Shell aware of bribes in Nigeria case

  • "They were kickbacks. And Eni and Shell knew it," Sergio Spadaro told judges in Milan, summing up the prosecutors' case in what is one of the industry's largest corruption scandals.
  • Italy's Eni and Shell, who deny any wrongdoing, acquired the OPL 245 offshore field in 2011 for about $1.3 billion from Malabu.
Published Jul 03, 2020 05:23pm
Palm oil reverses early gains as crude oil falls
Markets

Palm oil reverses early gains as crude oil falls

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 0.13% to 2,359 ringgit ($550.53) a tonne.
  • Oil fell below $43 a barrel as a resurgence of coronavirus cases raised concerns that fuel demand growth could stall.
Published Jul 03, 2020 05:21pm
German Bunds on course for worst week in a month
Markets

German Bunds on course for worst week in a month

  • 10-year German yields are up 4 basis points this week, set for their biggest weekly rise since the week ending June 5 .
  • It is quite telling that core government bond yields did not manage to move higher on a day when a surprisingly positive US labor market report was released.
Published Jul 03, 2020 05:17pm