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Reuters

France's Safran sees gradual recovery after crisis-hit 2020
World

France's Safran sees gradual recovery after crisis-hit 2020

  • The world's third largest aerospace contractor said 2020 recurring operating income fell 56% to 1.686 billion euros ($2.1 billion) as revenue fell 33% to 16.498 billion.
  • For 2021, Safran expected the key profitability gauge to recover by more than 100 basis points, with the recovery kicking in starting from the third quarter.
Published 25 Feb, 2021 06:11pm
Health minister fuels Lebanese anger over vaccine line-jumping
World

Health minister fuels Lebanese anger over vaccine line-jumping

  • Hassan's comments and pushback by other politicians added to anger in Lebanon, where decades of state waste and corruption have triggered a financial meltdown.
  • "You're a liar and a hypocrite, and you shouldn't stay in Lebanon," Ferzli shouted on live TV. Screenshots went viral among Lebanese on social media with captions such as "What I look like when I stub my toe" or "Vaccine side effect."
Published 25 Feb, 2021 06:09pm
India unveils tougher rules for social media such as Facebook, Twitter
World

India unveils tougher rules for social media such as Facebook, Twitter

  • The new measures will require big social media companies to set up a grievance redressal mechanism and appoint executives to coordinate with law enforcement.
  • Social media firms should be "more responsible and accountable," Ravi Shankar Prasad, the minister for information technology, told reporters in outlining the rules.
Published 25 Feb, 2021 06:05pm
Indian shares end higher as Reliance, energy stocks gain
Markets

Indian shares end higher as Reliance, energy stocks gain

  • The NSE Nifty 50 index ended 0.77% higher at 15,097.35 and the S&P BSE Sensex closed up 0.51% at 51,039.31, ahead of December-quarter gross domestic product data due on Friday.
  • Reliance, which fell 3.5% on Monday, has since recovered and is up more than 4% so far this week.
Published 25 Feb, 2021 06:03pm
Nigerian, Zambian, Kenyan currencies seen under pressure
Markets

Nigerian, Zambian, Kenyan currencies seen under pressure

  • The naira is seen easing on the spot market after it fell 0.21% to 410.29 per dollar on Thursday.
  • The kwacha is likely to face continued pressure against the dollar going into next week due to heightened demand for hard currency amid limited inflows.
Published 25 Feb, 2021 05:51pm
Turks' FX holdings dip to $235bn, still near record
Markets

Turks' FX holdings dip to $235bn, still near record

  • When adjusted with the parity effect, the data showed the hard currency holdings fell by only $27 million in the period.
  • The central bank is watching keenly for a reversal in this dollarization trend before it starts rebuilding its depleted FX reserves.
Published 25 Feb, 2021 05:44pm