News stories for Reuters - Business Recorder

Reuters

World

Brazil's economy faces tougher months: official

Adolfo Sachsida, economy policy secretary at the ministry, said the aid to low-income Brazilians had cost some 25 billion reais ($4.67 billion) per month.
He added that Brazil's economy should improve over the first half of the year and grow at least 3% in 2021.

Published 08 Jan, 2021 08:11pm

World

Portugal reports record daily increase in COVID-19 cases, deaths

Data from the DGS health authority showed 10,176 new cases and 118 deaths compared to the previous day.
The final decision will be taken after meeting health experts on Tuesday, Costa said.

Published 08 Jan, 2021 08:10pm

Business & Finance

Cisco in court after Acacia ends $2.84bn merger deal

The swift response came after Acacia said the deal failed to obtain regulatory approval from China within the originally agreed time frame.
Cisco said it received the approval on Thursday and sought confirmation from the Delaware Court of Chancery that it has met all conditions for closing the deal.

Published 08 Jan, 2021 08:07pm

World

Saudi Arabia to lift travel ban on March 31

The country will allow its citizens to travel abroad and then return from March 31.
Will open all air, land and sea ports from the same date, the agency added.

Published 08 Jan, 2021 08:05pm

World

Trump, after promising orderly transition, vows to give 'voice' to supporters

The nearly 75 million people who voted for him "will have a GIANT VOICE long into the future.
They will not be disrespected or treated unfairly in any way, shape or form.

Published 08 Jan, 2021 08:03pm

Markets

Canadian dollar adds to weekly gain as oil climbs

Canadian dollar rises 0.1% against the greenback.
Canada sheds 63,000 jobs in December.
For the week, the loonie was on track to gain 0.4%.
Price of US oil increases 1.8%.

Updated 08 Jan, 2021 08:03pm

World

IMF projects Egypt's economy will grow 2.8pc in 2020/21 year

Egypt's economy had been boosted in the last three years by an upswing in tourism.
The growth impact of the COVID-19 crisis has so far been less severe than expected, as strong consumption helped offset weak tourism and investment.

Published 08 Jan, 2021 07:37pm

Markets

Copper slips from 2013 peak as doubts grow about stimulus

Three-month copper on the London Metal Exchange was down 0.1% at $8,169.50 a tonne.
I think the market was just looking for positive news and the outcome of Georgia elections fits, but from a fundamental point of view it doesn't really change things.

Published 08 Jan, 2021 07:35pm

Markets

Corn, soybeans steady near 6-year highs as South America in focus

South America dryness, disrupted Argentine exports fuelled rally.
Forecast rain in S. America, slower US exports curb upside.
Attention turning to Jan. 12 USDA world crop report.
Wheat also firm near 6-year top.

Published 08 Jan, 2021 07:33pm

World

Malaysia PM to announce new COVID-19 measures as deaths hit daily record

The Southeast Asian nation has seen a spike in infections since September, with the number of daily reported cases climbing to record highs on two days this week.
The government has said it was considering imposing targeted lockdowns in some areas.

Published 08 Jan, 2021 07:29pm

World

1.1 million people in England had COVID last week

The ONS estimated that 1,122,000 people in England had the coronavirus (COVID-19) in the week to Jan 2.
London, the East of England and the South East have the highest percentage of positive cases that are compatible with the new variant of the virus.

Published 08 Jan, 2021 07:27pm

Markets

Spain to issue net 100bn euros worth of bonds in 2021, down from 110bn euros in 2020

The Treasury plans gross debt issuance of 289 billion euros compared with 277 billion euros issued last year, he added.

Published 08 Jan, 2021 07:25pm

Markets

Oil set for weekly gain on Saudi output cut pledge

Brent, WTI set for weekly gains of more than 6%.
Rally in global equities also feeds appetite for risk.
Latest global lockdowns delay fuel demand recovery.

Published 08 Jan, 2021 07:23pm

Markets

Bitcoin on record-setting spree, jumps 5pc on day

The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange before bouncing back. Rival cryptocurrency ethereum rose 3% after sinking more than 10%.
We are seeing a continued demand spike driven largely by sustained and unprecedented institutional interest.

Published 08 Jan, 2021 07:21pm

World

Coronavirus variants, first found in UK and South Africa, spread worldwide

AUSTRALIA has found several cases of the variant first identified in Britain and has also found at least one case of the variant found in South Africa.
PAKISTAN health officials said the variant found in Britain had been detected in the southern province of Sindh.

Published 08 Jan, 2021 07:18pm

Business & Finance

OCBC's Wong to be first woman CEO of Singapore bank

Wong, 59, will become the first woman to head a Singapore bank and among the few to lead an Asian bank. The appointment is effective April 15.
Kevin Kwek, senior analyst at Sanford C. Bernstein, said that given Wong's China experience, he expects OCBC.

Published 08 Jan, 2021 07:14pm

Markets

Shares soar on hopes of global recovery, US stimulus

Nikkei hits 30-year high.
Hopes for vaccines, US stimulus turbocharge sentiment.
Chinese telcos lose $5.6 bln in value after index drop.
Bitcoin touches fresh all-time high.
Investors await US non-farm payrolls data.
Dollar rises on recovery expectations.
10-year Treasury yields hit highest since March.

Published 08 Jan, 2021 07:11pm

World

Swiss expect gradual improvement in job market during 2021

Companies almost immediately stopped hiring last March after the first government restrictions, triggering a rise in unemployment throughout the year.
"Short-time working has allowed companies to deal with the crisis and make plans for the future," he told a news conference in Bern.

Published 08 Jan, 2021 07:08pm

Business & Finance

Indonesia sets new rules on payments systems

Filianingsih Hendarta, the head of Bank Indonesia's payment systems department, said the new regulation.
Non-bank payment infrastructure companies must be at least 80% Indonesian-owned, it said.

Published 08 Jan, 2021 07:06pm

Markets

Asia Gold-Stronger yuan pushes China discounts to 7-month low

India premiums ease to $1.5/oz vs last week's $2.5/oz.
Buyers waiting for a price correction -Indian wholesaler.
Spot gold prices hit 2-month high this week.

Published 08 Jan, 2021 07:04pm

Gainers
Losers
Leaders

Stock	Price
First Pak Modaraba / Jan 17 First Pak Modaraba(PAKMI)	2.20 ▲ 0.32 (4.27%)
Thatta Cement / Jan 17 Thatta Cement Company Limited(THCCL)	21.04 ▲ 0.94 (2.89%)
Pakistan Cables / Jan 17 Pakistan Cables Limited(PCAL)	140.30 ▲ 3.92 (2.45%)
Crescent Star / Jan 17 Crescent Star Insurance Limited(CSIL)	2.80 ▲ 0.10 (1.45%)
First Cap. Sec. / Jan 17 First Capital Securities Corporation(FCSC)	1.64 ▲ 0.12 (1.23%)
Berger Paints / Jan 17 Berger Paints Pakistan Limited(BERG)	115.00 ▲ 4.79 (0.86%)
Nishat (Ch) / Jan 17 Nishat Chunian Limited(NCL)	50.90 ▲ 1.60 (0.77%)
Friends Sp. / Jan 17 Friends Spinning Mills Limited(FRSM)	42.30 ▼ -0.02 (0.71%)
Ghani Auto Ind. / Jan 17 Ghani Automobile Industries Limited(GAIL)	6.30 ▼ -0.08 (0.64%)
Friesland. Engro / Jan 17 Frieslandcampins Engro Foods Limited(FCEPL)	78.99 ▲ 1.19 (0.62%)

Stock	Price
Quice Food / Jan 17 Quice Food Industries Limited(QUICE)	4.81 ▼ 0.13 (-3.41%)
Telecard / Jan 17 Telecard Limited(TELE)	2.72 ▼ 0.33 (-2.86%)
Nimir Resins / Jan 17 Nimir Resins Limited(NRSL)	12.87 ▼ 0.62 (-1.76%)
Kohinoor Ind. / Jan 17 Kohinoor Industries Limited(KOIL)	9.89 ▼ 0.67 (-1.40%)
Power Cement / Jan 17 Power Cement Limited(POWER)	11.74 ▼ 0.89 (-1.34%)
Emco Ind. / Jan 17 Emco Industries Limited(EMCO)	38.00 ▼ 1.76 (-1.30%)
Kohinoor Sp. / Jan 17 Kohinoor Spinning Mills Limited(KOSM)	5.09 ▼ 0.05 (-1.17%)
First Prud Mod. / Jan 17 First Prudential Modaraba(PMI)	1.78 ▼ 0.36 (-1.11%)
D.S. Ind. Ltd. / Jan 17 D.S. Industries Limited(DSIL)	3.61 ▲ -0.11 (-1.10%)
Al Shaheer Corp. / Jan 17 Al Shaheer Corporation Limited(ASC)	16.62 ▼ 0.35 (-1.07%)

Stock	Volume
Hum Network / Jan 17 Hum Network Limited(HUMNL)	38,439,000 ▼ 0.50
Power Cement / Jan 17 Power Cement Limited(POWER)	29,144,000 ▼ 0.89
Fauji Fert. Bin / Jan 17 Fauji Fertilizer Bin Qasim Limited(FFBL)	18,354,500 ▼ 0.24
Gul Ahmed / Jan 17 Gul Ahmed Textile Mills Limited(GATM)	13,493,000 ▼ 3.27
TRG Pak. / Jan 17 TRG Pakistan Limited(TRG)	12,387,000 ▼ 1.90
Kohinoor Sp. / Jan 17 Kohinoor Spinning Mills Limited(KOSM)	12,017,000 ▼ 0.05
Fauji Foods / Jan 17 Fauji Foods Limited(FFL)	7,183,500 ▼ 0.20
Hira Tex. / Jan 17 Hira Textile Mills Limited(HIRAT)	6,696,000 ▼ 0.65
Maple Leaf / Jan 17 Maple Leaf Cement Factory Limited(MLCF)	5,749,000 ▲ -0.17
Dewan Cem. / Jan 17 Dewan Cement Limited(DCL)	5,607,000 ▼ 0.52

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 16	160.35
USD PKR Interbank Buying / Jan 16	160.20
USD to Japanese Yen / Jan 16	103.90
USD to Swiss Franc / Jan 16	0.89
Pound Sterling to USD / Jan 16	1.36
Euro to USD / Jan 16	1.21

Stock	Volume
S&P 500 / Jan 16	3770.02
India Sensex / Jan 16	49034.67
Tokyo Nikkei / Jan 16	28519.18
Nasdaq / Jan 16	12998.50
Hang Seng / Jan 16	28573.86
FTSE 100 / Jan 16	6735.71
Dow Jones / Jan 16	30814.26
Germany DAX 30 / Jan 16	13787.73
France CAC40 / Jan 16	5611.69

Indicator	Value
Weekly Foreign Reserves / Jan 8	20512.10
GDPGROWTH / Jan 8	1.00
Foreign Debt (PKR billions) / Jan 8	17000.00
Average CPI % / Jan 8	11.11
UK LIBOR % / Jan 16	0.09