News stories for Reuters - Business Recorder

Reuters

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

World

Tanzania's president asks China to forgive some outstanding debts

Magufuli said he had presented the request to visiting Chinese Foreign Minister Wang Yi.
He will get our request to China so that they can see how they can forgive our debts because according to their concession laws it is very difficult to forgive debts.

Published 08 Jan, 2021 07:01pm

Markets

China bond market regulator warns Haitong over violations

The breaches by the companies, which also include brokerage Haitong Futures and Shanghai Haitong Securities Asset Management Co.

Published 08 Jan, 2021 06:59pm

World

Bird flu outbreak dents chicken sales in India, hits farmers

Broiler chicken prices have fallen to 60 rupees ($0.8192) a kg from around 90 rupees a week ago.
The industry might see some temporary disruption, but we don't see this to be a long term phenomenon and this might correct itself in a period of 15-20 days.

Published 08 Jan, 2021 06:57pm

World

Britain approves Moderna's COVID-19 vaccine for use

Three COVID-19 vaccines have now been approved for use in Britain, with Pfizer/BioNTech's shot and one developed by Oxford University and AstraZeneca already being rolled out.
We have already vaccinated nearly 1.5 million people across the UK and Moderna's vaccine will allow us to accelerate our vaccination programme

Published 08 Jan, 2021 06:54pm

Business & Finance

Glencore in final-stage talks over Mopani stake sale to Zambia

Zambian state radio ZNBC earlier reported the government had concluded talks with Glencore, citing President Edgar Lungu.
The report did not give details about the outcome of the negotiations, but said a deal was likely to be signed next week.

Published 08 Jan, 2021 06:49pm

Markets

Dollar holds above 2018 lows ahead of US jobs report

The greenback bounced off a nearly three-year low on Thursday as a rise in US yields triggered some unwinding of bearish bets on the currency.
I think once this euphoria dies down, the dollar is likely to resume its downtrend trend, because I don't think the Fed will be so eager to taper.

Published 08 Jan, 2021 06:48pm

Business & Finance

Boeing to pay $2.5bn to settle US criminal probe into 737 MAX crashes

The settlement, which allows Boeing to avoid prosecution, includes a fine of $243.6 million.
Boeing said it would take a $743.6 million charge against its fourth-quarter 2020 earnings to reflect the deferred prosecution agreement.

Published 08 Jan, 2021 06:44pm

World

EU paves way for more Pfizer vaccine shots after extra dose allowed

EU countries started inoculating people with the Pfizer-BioNTech vaccine two weeks ago.
Shot's conditional approval under an authorisation which allows five doses to be extracted from each vial.

Published 08 Jan, 2021 06:43pm

World

Top US House Democrat says House prepared to impeach Trump

Donald Trump needs to be removed from office and we are going to proceed with every tool that we have to make sure that that happens to protect our democracy.
We will move forward with impeachment.

Published 08 Jan, 2021 06:40pm

Business & Finance

European watchdog could decide on AstraZeneca vaccine by end-Jan

The Astrazeneca shot, which was developed with Oxford University, was given a green light by authorities in Britain on Dec. 30.
It has so far recommended the Pfizer-BioNtech and Moderna vaccines for European Union approval, which was quickly granted for both.

Published 08 Jan, 2021 06:38pm

Sports

FIFA to trial concussion substitutes at Club World Cup

The decision comes after the game's rule-making body IFAB gave the go-ahead to additional trials last month.
England's Premier League are hoping to introduce concussion substitutes later this month.

Published 08 Jan, 2021 06:35pm

World

Power struggle leaves UN rights body without leader

Geopolitical stand-off at UN rights council.
Body cannot agree on leader amid messy contest.
Key year for council with possible US return, reforms.

Published 08 Jan, 2021 06:32pm

Markets

Gold buckles under firmer dollar, bond yields ahead of payroll data

Silver falls as much as 3.6%
Dollar hits an over one-week peak

Published 08 Jan, 2021 06:31pm

BR Research

India's TCS reports higher profit as remote work drives cloud demand

The results kick off India's corporate earnings season for the December-quarter, a seasonally weak period for the software industry.
Growing demand for core transformation services ... have driven a powerful momentum that helped us overcome seasonal headwinds.

Published 08 Jan, 2021 06:28pm

World

China should maintain modest economic support in 2021, says IMF

The world's second-largest economy is likely to grow 7.9% in 2021, accelerating from expected 1.9% growth in 2020.
China should keep "moderately supportive fiscal and monetary policies until the recovery is on solid ground," the IMF said.

Published 08 Jan, 2021 06:26pm

Gainers
Losers
Leaders

Stock	Price
B.R.R. Mod. (R) / Jan 21 B.R.R. Guardian Modaraba (R)(BRRR)	3.79 ▲ 1.06 (35.84%)
Colony Textile / Jan 21 Colony Textile Mills Limited(CTM)	6.46 ▲ 1.18 (14.74%)
First AL-Noor Mod. / Jan 21 First Al-Noor Modaraba(FANM)	3.59 ▲ 0.34 (10.46%)
Hala Enterpries / Jan 21 Hala Enterprises Limited(HAEL)	10.60 ▲ 1.11 (10.42%)
Saritow Sp. / Jan 21 Saritow Spinning Mills Limited(SSML)	11.00 ▲ 1.20 (10.00%)
Summit Bank / Jan 21 Summit Bank Limited(SMBL)	1.89 ▲ 0.17 (9.25%)
Cyan Ltd / Jan 21 Cyan Limited(CYAN)	50.48 ▲ 3.52 (7.50%)
Fazal Cloth / Jan 21 Fazal Cloth Mills Limited(FZCM)	198.76 ▲ 13.86 (7.50%)
Kohat Tex. / Jan 21 Kohat Textile Mills Limited(KOHTM)	17.20 ▲ 1.80 (7.50%)
Bawany Air / Jan 21 Bawany Air Products Limited(BAPL)	20.96 ▲ 1.46 (7.49%)

Stock	Price
Premier Ins. / Jan 21 Premier Insurance Limited(PINL)	5.00 ▼ 0.74 (-8.93%)
Al-Mali / Jan 21 Modaraba Al-Mali(MODAM)	4.80 ▼ 0.37 (-8.22%)
Habib Metro Mod / Jan 21 Habib Metro Modaraba(HMM)	7.50 ▼ 0.65 (-7.98%)
PICIC Insurance / Jan 21 PICIC Insurance Limited(PIL)	1.35 ▼ 0.11 (-7.53%)
AL-Noor Sugar / Jan 21 Al-Noor Sugar Mills Limited(ALNRS)	55.50 ▼ 4.50 (-7.50%)
Altern Energy / Jan 21 Altern Energy Limited(ALTN)	27.71 ▼ 2.24 (-7.48%)
Aisha Steel(ConPS) / Jan 21 Aisha Steel(ConPS)(ASLPS)	27.80 ▼ 2.20 (-7.33%)
SILKBANK / Jan 21 Silkbank Limited(SILK)	1.20 ▼ 0.12 (-6.98%)
Ahmad Hassan / Jan 21 Ahmad Hassan Textile Mills Limited(AHTM)	45.54 ▼ 3.40 (-6.95%)
Shaheen Ins. / Jan 21 Shaheen Insurance Company Limited(SHNI)	4.84 ▼ 0.34 (-6.92%)

Stock	Volume
K-Electric Ltd / Jan 21 K-Electric Limited(KEL)	143,822,500 ▼ 0.34
Hum Network / Jan 21 Hum Network Limited(HUMNL)	43,378,000 ▼ 0.73
SILKBANK / Jan 21 Silkbank Limited(SILK)	42,706,000 ▼ 0.12
Unity Foods / Jan 21 Unity Foods Limited(UNITY)	41,064,248 ▼ 1.85
Pak Int.Bulk Ter / Jan 21 Pakistan International Bulk Terminal Limited(PIBTL)	31,430,000 ▼ 0.64
Power Cement / Jan 21 Power Cement Limited(POWER)	28,183,000 ▼ 0.53
Fauji Foods / Jan 21 Fauji Foods Limited(FFL)	23,037,500 ▼ 0.70
TRG Pak. / Jan 21 TRG Pakistan Limited(TRG)	21,702,000 ▼ 2.31
Lotte Chemical / Jan 21 Lotte Chemical Pakistan Limited(LOTCHEM)	21,122,000 ▼ 0.97
Jahangir Sid. Co. / Jan 21 Jahangir Siddiqui & Co. Ltd.(JSCL)	20,470,500 ▼ 2.08

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 21	160.55
USD PKR Interbank Buying / Jan 21	160.45
USD to Japanese Yen / Jan 21	103.54
USD to Swiss Franc / Jan 21	0.89
Pound Sterling to USD / Jan 21	1.37
Euro to USD / Jan 21	1.21

Stock	Volume
S&P 500 / Jan 21	3851.85
India Sensex / Jan 21	49792.12
Tokyo Nikkei / Jan 21	28523.26
Nasdaq / Jan 21	13457.25
Hang Seng / Jan 21	29962.47
FTSE 100 / Jan 21	6740.39
Dow Jones / Jan 21	31188.38
Germany DAX 30 / Jan 21	13921.37
France CAC40 / Jan 21	5628.44