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Business Recorder Logo
Mar 01, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
World Published 01 Mar, 2021 07:04pm

Ex-French President Sarkozy sentenced to jail in corruption trial

  • The 66-year-old was found guilty of trying to bribe a judge in Monaco in exchange for inside information on an inquiry into his campaign finances.
  • The same sentence was handed down to his co-defendants – lawyer Thierry Herzog and judge Gilbert Azibert.
Ex-French President Sarkozy sentenced to jail in corruption trial
Currency Rate
USD PKR Interbank Selling / Feb 27
158.10
USD PKR Interbank Buying / Feb 27
158.00
USD to Japanese Yen / Feb 27
106.57
USD to Swiss Franc / Feb 27
0.91
Pound Sterling to USD / Feb 27
1.39
Euro to USD / Feb 27
1.21
UK LIBOR % / Feb 27
0.08
Stock Volume
S&P 500 / Feb 27
3811.15
India Sensex / Feb 27
49099.99
Tokyo Nikkei / Feb 27
28966.01
Nasdaq / Feb 27
13192.35
Hang Seng / Feb 27
28980.21
FTSE 100 / Feb 27
6483.43
Dow Jones / Feb 27
30932.37
Germany DAX 30 / Feb 27
13786.29
France CAC40 / Feb 27
5703.22
Item Value
Crude Oil / Feb 27
61.50
Karachi Cotton Assoc. / Feb 27
12200.00
Gold 10 Grams / Feb 27
94564.00
Gold Spot / Feb 27
1728.80
Cotton / Feb 27
88.83

Business & Finance

Facebook signs up partners for German news product, but Springer baulks

Facebook signs up partners for German news product, but Springer baulks

  • "Part of our user base wants to read more news," Jesper Doub, Facebook's director of news partnerships in Europe, told reporters.
  • Attempts by some platforms on the one hand to position themselves as news media, and on the other to fob off publishers with inadequate remuneration, are problematic.
Published 01 Mar, 2021 08:42pm
Forex

Latam currencies rise as bonds stabilize, commodity prices rise

  • Brazil's real rose 0.5% against a stronger dollar. A survey on Monday showed the pace of expansion in the country's manufacturing sector picked up again in February after three months of deceleration.
  • MXN bonds were the most sensitive during the 2013 & 2016 yields spikes and will likely be hit relatively more as US yields rise.
Published 01 Mar, 2021 08:29pm
Companies

Indian regulator proposes stricter rules on independent directors

  • If either of the requirements are not met, a new person will not be appointed and existing independent directors can't be removed, SEBI said in its proposal, which is open for public consultation until April 1.
  • The proposal may be revised after SEBI receives public feedback, and there is no clear timeline on its implementation.
Published 01 Mar, 2021 08:21pm
Money & Banking

Credit Suisse suspends supply chain finance funds

  • In a note to investors, Credit Suisse Asset Management said that "a certain part of the subfunds' assets is currently subject to considerable uncertainties with respect to their accurate valuation".
  • Greensill, into which the SoftBank Vision Fund, part of Japan's Softbank Group, has invested around $1.5 billion in recent years, was not immediately available for comment.
Published 01 Mar, 2021 08:18pm
Money & Banking

Wells Fargo expands in precious metals after Scotiabank exit

  • Scotiabank was for years the biggest global lender to the physical precious metals industry. It decided in 2018 to downsize and last year to exit the sector.
  • Other banks to have taken on Scotia staff since it began to shrink include Canada's Bank of Montreal (BMO) and Royal Bank of Canada (RBC).
Published 01 Mar, 2021 08:15pm
Companies

SoftBank to write down $1.5bn Greensill investment

  • The writedown occurred at the end of 2020 and SoftBank is considering dropping the valuation to close to zero, the report said.
  • Greensill, owned by billionaire Lex Greensill, has been looking to raise funds with the aim of going public, according to the report.
Published 01 Mar, 2021 08:02pm

BR Research

BR Research

PSEL: still in the red

Marred by economic sluggishness, Pakistan’s premium hotel sector was already under pressure prior to Covid-19. ...
Published 26 Feb, 2021 07:35am

Pakistan

Govt reportedly offers six Senate seats to opposition from Balochistan

  • The development came hours after the Supreme Court of Pakistan opined that the Senate election is held "under the Constitution" and thus cannot be conducted through an open ballot, as per the government's demand.
  • The proposal was tabled by Senate Chairman Sadiq Sanjrani to the opposition lawmaker Ghafoor Haideri.
Published 01 Mar, 2021 08:53pm

COAS Bajwa visits logistics installations & workshop in Rawalpindi

  • The Army Chief visited various facilities and infrastructures of the workshop handling a vast range of specialised transport items for the Army, says ISPR.
  • General Bajawa appreciated the performance and commitment of the workshop in the provision of top-class maintenance facilities and services as per standard engineering practices in line with modern/latest standards.
Published 01 Mar, 2021 06:36pm

Eight foreign teams participating in PATS 2021 competition: ISPR

  • Teams from Jordan, Sri Lanka, Turkey and Uzbekistan will take part as participants whereas Morocco, Indonesia, Kazakhstan and Tajikistan are participating as observers in the three days long competition
  • The competition is designed to test tactical skills in physical and professional domains as well as agility of the participating teams to generate responses in challenging real-time field scenarios
Published 01 Mar, 2021 04:32pm

PM Imran Khan meets MNAs ahead of Senate election

  • During the meeting the premier listened to grievances of the lawmakers and addressed their reservations.
  • The National Assembly is the electoral college for the Senate seat on which polling will be held on March 3.
Published 01 Mar, 2021 04:32pm

Latest

World

South Asia

Biden Administration to reportedly initiate dialogue with Taliban

  • The Biden Administration's Afghanistan negotiator has begun a diplomatic trip, which will reportedly include the first meeting of the new administration with the Taliban.
  • The State Department did not immediately provide comment on the agenda Zalmay Khalilzad is bringing to the Taliban, which belatedly resumed peace talks with the U.S. client Afghan government last week.
Published 01 Mar, 2021 07:18pm
Europe

EU to propose vaccine certificates in time for summer holidays

  • The EU executive aims to present its plans for a "digital green pass" on March 17 and to cooperate with international organisations to ensure that its system also works beyond the European Union.
  • The aim is to gradually enable them to move safely in the European Union or abroad - for work or tourism.
Published 01 Mar, 2021 08:05pm
South Asia

Polish and Chinese presidents discuss buying Chinese COVID vaccine

  • At the request of Prime Minister Mateusz Morawiecki, the president also raised the question of Polish-Chinese cooperation in the fight against the coronavirus pandemic, including the possibility of Poland purchasing vaccines produced in China.
  • Like other EU countries, Poland's vaccination programme has been hampered by delays in deliveries from producers like AstraZeneca and Pfizer.
Published 01 Mar, 2021 07:59pm
Middle East

First UAE ambassador arrives in Israel, eyes Tel Aviv embassy

  • Mohamed Al Khaja, former chief of staff to the UAE foreign minister, was due to present his credentials to Israeli President Reuven Rivlin at the start of a three-day visit.
  • "My mission here is to foster and develop this relationship...and we hope this will bring peace and prosperity to the people in the Middle East," he said.
Published 01 Mar, 2021 06:10pm

Editorials

Back to full-time school

EDITORIAL: The government’s decision to reopen schools five days a week across the country from 1 March 2021 is...
Surcharge on electricity

Surcharge on electricity

EDITORIAL: The Economic Coordination Committee (ECC) of the Cabinet approving the revocation of the Neelum Jhelum...

Opinion

Perspectives

Life Style

Sports