Trends - European Union - Business Recorder

European Union

EU's trade deal offer to Britain 'remains unacceptable'

Talks are continuing overnight, but as things stand the offer on the table from the EU remains unacceptable.
The two sides have set a deadline of Sunday to find agreement and prevent a chaotic break.

Updated 13 Dec, 2020 02:07am

World

Britain's navy to protect fishing waters in case of no-deal Brexit

Four Royal Navy patrol ships will be ready on Jan. 1 to help protect Britain’s fishing waters in the event the Brexit transition period ends without a deal on future ties with the European Union.
There are concerns about possible skirmishes between British and foreign fishing vessels if no trade deal is reached.

Published 12 Dec, 2020 05:18pm

World

No deal on Brexit trade 'very very likely', Johnson says

Britain is likely to complete its journey out of the European Union in three weeks without a trade deal.
Britain quit the EU in January but remains an informal member until Dec. 31 - the end of a transition period during which it has remained in the EU single market and customs union.

Published 12 Dec, 2020 02:29pm

Markets

Brexit: Morgan Stanley sees FTSE 250 down as much as 10pc on no deal

Morgan Stanley sees shares of UK banks falling 10pc to 20pc in a "no deal" scenario, given there is a higher chance the Bank of England would cut interest rates into negative territory.

Published 11 Dec, 2020 06:12pm

World

EU Commission chief sees more chance of no Brexit trade deal

Britain is more likely to leave the European Union’s orbit on Dec. 31 without a trade deal than with an agreement, an EU official quoted the head of the European Commission.
A no-trade deal Brexit would damage the economies of northern Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains which stretch across Europe and beyond.

Published 11 Dec, 2020 05:30pm

World

Brexit: France's Macron hopes Britain, EU will find deal

"I'm not asking to have my cake and eat it, no. All I want is a cake that's worth its weight. Because I won't give up my share of it either,".

Published 11 Dec, 2020 05:26pm

Markets

Asia Rice-Indian rates extend gains to over 2-month high on fresh orders

Prices for the top exporter's 5% broken parboiled variety rose to $378-$383 per tonne, their highest since the week of Sept. 24, from $375-$381 last week.

Published 11 Dec, 2020 11:36am

World

EU needs to move on both level playing field and fisheries by Sunday: UK's Raab

"I think the EU will need to move significantly on both those key points because they're points of principle," Raab.

Published 10 Dec, 2020 06:16pm

World

Hungary sees chance of EU budget deal being approved on Thursday

There is a compromise, which is acceptable for Germany and meets the conditions of Hungary and Poland.

Published 10 Dec, 2020 05:51pm

Markets

French non-EU wheat export outlook raised again, maize stocks cut

Soft wheat exports in the 2020/21 season are expected to reach 6.95 million tonnes compared with 6.85 million projected last month.

Published 10 Dec, 2020 04:46pm

World

Irish foreign minister says gap still very wide in EU-UK talks

"Politics has the capacity to find a way forward in my view if the motivation is there to do that," Simon Coveney.

Published 10 Dec, 2020 04:38pm

World

EU executive proposes ways to avoid Brexit disruption without deal

The Commission said it would also soon propose a 5 billion euro ($6.05 billion) "Brexit Adjustment Reserve" as part of the EU's new 2021-2027 budget to help EU businesses adapt.

Published 10 Dec, 2020 04:09pm

Business & Finance

Banks warn EU of disruption in derivatives markets in January

In the absence of action from policymakers, there will be disruption in the market as of 1 January.

Published 10 Dec, 2020 12:45pm

World

Britain, EU set Sunday deadline to clinch Brexit trade deal

The EU and Britain had cast Thursday's meeting as a chance to break an impasse in negotiations but both acknowledged there was a danger that a trade deal would elude them.

Published 10 Dec, 2020 11:19am

World

EU leaders to unblock EU budget, recovery fund, set new climate goals

This could push the application of the new rules past the 2022 elections in Hungary, which some EU officials said Hungarian Prime Minister Viktor Orban was keen on.

Published 10 Dec, 2020 11:16am

Markets

Australian dollar near 2-1/2-year top; NZ$ stumbles

Domestic data was less supportive too with electronic card retail sales rising a mere 0.1% in November, suggesting policy will have to remain accommodative to fuel consumer spending.

Published 10 Dec, 2020 09:40am

World

French European Affairs minister says a Brexit deal still possible

British Prime Minister Boris Johnson warned the European Union on Wednesday it must scrap demands that he said were unacceptable if there was to be a Brexit trade deal and avoid a turbulent break-up in three weeks.

Published 09 Dec, 2020 09:02pm

World

Little chance of a trade deal when Johnson, von der Leyen meet

"The probability of a no-deal is increasing," the official said.

Published 09 Dec, 2020 08:58pm

World

UK PM Johnson warns EU over Brexit trade talks: back down or it's no-deal

British Prime Minister Boris Johnson warned the European Union on Wednesday it must scrap demands which he says are unacceptable if there is to be a Brexit trade deal.
With fears growing of a chaotic no-deal finale to the five-year Brexit crisis, Johnson was heading to Brussels later on Wednesday for talks with European Commission President Ursula von der Leyen.

Updated 10 Dec, 2020 01:15am

World

Merkel: We're seeking way to lift Poland and Hungary's EU veto

Warsaw and Budapest, both under EU scrutiny for undermining judicial and media independence, are blocking the budget and the EU's recovery fund.

Updated 09 Dec, 2020 06:38pm

World

Merkel: We could still reach an agreement on Brexit

She told the Bundestag lower house of parliament that the two sides still needed to resolve the issue of a level playing field.

Published 09 Dec, 2020 05:49pm

World

Ireland's Varadkar says he believes UK-EU trade deal is possible

He said he thought Irish Prime Minister Micheal Martin's assessment that the chances of a deal were 50-50 was "absolutely correct".

Published 09 Dec, 2020 05:41pm

World

Britain wants to find a way to get a post-Brexit deal: Ireland's Coveney

"Tomorrow is pivotal," Coveney told Irish national broadcaster RTE, referring to a meeting on Wednesday between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen.

Published 09 Dec, 2020 11:54am

Markets

Pound teeters, dollar dithers as traders look to Brussels

"Broad positioning is short sterling, but not at extremes by any means. This limits the prospect we get an exaggerated short-covering rally to say $1.3800 or $1.4000."

Published 09 Dec, 2020 10:25am

World

Turkey calls on EU to act with common sense, says wants to improve ties

Turkey urged the European Union on Tuesday to use “common sense” to end a dispute over natural gas that has fanned territorial rows in the eastern Mediterranean and drawn a threat of sanctions from the bloc’s leaders.

Updated 08 Dec, 2020 09:28pm

World

Britain and EU announce deal to manage post-Brexit trade with Northern Ireland

On Tuesday, British Prime Minister Boris Johnson announced the scrapping of all "law breaking" clauses from the Brexit legislation, in an effort to revive relations between London and Brussels.
The United Kingdom and the European Union stated that they had agreed a deal on the implementation of the Northern Ireland protocol.

Updated 08 Dec, 2020 07:44pm

World

EU Commission says Brexit talks could continue into 2021

f that deal is not in place on January 1, then we have a no-deal situation. That does not exclude that negotiations can continue, from our side.

Published 08 Dec, 2020 06:35pm

World

EU pushing for deal with Switzerland over Christmas skiing: minister

"Concerning Switzerland, talks are ongoing. It's the sole point where coordination is not quite there yet. But we're talking to Swiss authorities to avoid any type of unfair competition".

Published 08 Dec, 2020 05:36pm

World

UK's Johnson ready to pull out of Brexit talks, The Sun says

“Today he will tell the EU he is not for turning as he vows to stand firm against 11th-hour Brexit demands from France,” says British publication.

Published 07 Dec, 2020 06:43pm

World

EU weighs up sanctions against Turkey in east Med gas dispute

Tensions flared in August when Turkey - a NATO ally and candidate for EU membership - sent a survey vessel to map out energy drilling prospects in waters also claimed by Greece.

Published 07 Dec, 2020 04:54pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	157.31
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 31	5277.51
India Sensex / May 31	73961.31
Tokyo Nikkei / May 31	38487.90
Nasdaq / May 31	16735.02
Hang Seng / May 31	18079.61
FTSE 100 / May 31	8275.38
Dow Jones / May 31	38686.32
Germany DAX 30 / May 31	18497.94

Item	Value
Crude Oil USD/Barrel / May 31	76.99
Karachi Cotton PKR/37.32 KG / May 31	19935
Gold 10 Grams PKR / May 31	207219
Gold Spot USD/Ounce / May 31	2327.33
Cotton US¢/pound / May 31	75.11
Petrol/Litre / Jun 2	268.36

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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