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COVID-19 TOTAL DAILY
CASES 234,509 2691
DEATHS 4,839 77
Sindh 96,236 Cases Today
Punjab 82,669 Cases Today
Balochistan 10,841 Cases Today
Islamabad 13,557 Cases Today
KP 28,236 Cases Today
Sindh govt fails to deliver: Ali
Pakistan

Sindh govt fails to deliver: Ali

  • Talking to a private news channel, the minister said law and order situation was a provincial subject and it was responsibility of the provinces to maintain that.
Published Jul 07, 2020 11:16pm
Libya's NOC says oil blockade to halve oil output in coming years
Business

Libya's NOC says oil blockade to halve oil output in coming years

  • NOC said in a statement on its website that production would be cut in half by 2022 "in the absence of an immediate restart of oil production.
  • The bank said it had allocated 1.2 billion dinars to NOC as "an exceptional budget" item, as well as $1.55 billion to cover fuel subsidies and expenses.
Published Jul 07, 2020 09:54pm
UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease
Business

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

  • The cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken. Key OPEC+ ministers hold talks next week.
  • ADNOC has notified its customers of its plans to cut crude oil nominations for August by 5% for all grades in line with OPEC+ pact to reduce oil supplies.
Published Jul 07, 2020 09:29pm
UBI crosses swords again with Intesa on value of takeover bid
Business

UBI crosses swords again with Intesa on value of takeover bid

  • Intesa formally launched its 3.5 billion euro ($4 billion) all-paper bid on Monday, just days after UBI Banca told its shareholders the offer was not generous enough.
  • UBI shares are trading slightly above the 1.7 exchange ratio Intesa is proposing, and analysts have warned the stock would drop sharply if the offer fell through.
Published Jul 07, 2020 09:15pm
Italian yields hover at 3-month lows as traders eye talks in Brussels
Markets

Italian yields hover at 3-month lows as traders eye talks in Brussels

  • "We currently have some thoughts and hopes that there could be a breakthrough concerning the recovery fund," said Daniel Lenz, rates strategist at DZ Bank.
  • Italian 10-year BTP yields were down 2 basis points to 1.29% in late trade, not far from three-month lows hit last Friday at 1.25%.
Published Jul 07, 2020 08:56pm
Sterling rises to three-week highs on news of Brexit talks dinner
Markets

Sterling rises to three-week highs on news of Brexit talks dinner

  • I think there is a little bit of optimism today for the dinner that is taking place tonight at 10 Downing Street.
  • "The market is looking at what is going to give a boost in the next six months... but I think it's mostly flow driven and volumes that are not really heavy."
Published Jul 07, 2020 08:21pm
Deutsche Bank to pay $150mn penalty over Jeffrey Epstein, other compliance failures
Business

Deutsche Bank to pay $150mn penalty over Jeffrey Epstein, other compliance failures

  • For years, Mr. Epstein's criminal, abusive behavior was widely known, yet big institutions continued to excuse that history and lend their credibility or services for financial gain.
  • Deutsche Bank Chief Executive Christian Sewing told staff in an internal memo on Tuesday that it was a "critical mistake" to take Epstein on as a client in 2013.
Published Jul 07, 2020 07:11pm
Zoom rolls out hardware subscription service
Business

Zoom rolls out hardware subscription service

  • Zoom has partnered with third-party hardware manufacturers such as DTEN, Neat, Poly, and Yealink for the phone and meeting room devices.
  • The launch comes nearly a week after Zoom said it has made significant progress in a transparency report that details information related to requests it receives for data.
Published Jul 07, 2020 07:07pm
Yields lower as reopenings rolled back
Markets

Yields lower as reopenings rolled back

  • The benchmark 10-year yield was down 1.5 basis points in morning trading at 0.6693%.
  • Wall Street's main indexes opened lower on Tuesday following the benchmark S&P 500's longest streak of gains this year.
Updated Jul 07, 2020 07:07pm
Fiat Chrysler restarts production at Serbia's plant: report
Business

Fiat Chrysler restarts production at Serbia's plant: report

  • Due to the effects of the coronavirus outbreak on markets, Fiat Chrysler halted production at its Italian plants and in Serbia and Poland on March 16.
  • Around 2,000 workers returned to production halls in the central Serbian city of Kragujevac a day earlier to prepare for the restart of manufacturing of the 500L model.
Published Jul 07, 2020 06:23pm
Lufthansa to cut leadership positions, 1,000 admin jobs
Business

Lufthansa to cut leadership positions, 1,000 admin jobs

  • Lufthansa said it would also cut the investment volume for new aircraft in half, with its financial plan allowing for up to 80 new aircraft for the group's fleet up to 2023.
  • Lufthansa already decided in early April to reduce its fleet by 100 aircraft and not to resume the operations of budget unit Germanwings.
Published Jul 07, 2020 06:21pm
Deutsche Bank still evaluating Wirecard Bank support
Business

Deutsche Bank still evaluating Wirecard Bank support

  • Germany's largest bank said last week that it was working with financial watchdog BaFin and Wirecard's insolvency administrator on possible support for Wirecard Bank.
  • "We all now need transparency and that's the first task to be done," Sewing said at a webcast event organised by Bloomberg News.
Published Jul 07, 2020 06:19pm
Egypt's foreign reserves recover slightly to $38.2bn
Markets

Egypt's foreign reserves recover slightly to $38.2bn

  • Foreign reserves have dropped since March from a high of more than $45 billion, as investors pulled cash from emerging markets and Egypt's tourism industry.
  • To help Egypt cope, the International Monetary Fund approved $2.77 billion in emergency funding in May. Last month.
Published Jul 07, 2020 06:13pm