AIRLINK 80.60 Increased By ▲ 1.19 (1.5%)
BOP 5.26 Decreased By ▼ -0.07 (-1.31%)
CNERGY 4.52 Increased By ▲ 0.14 (3.2%)
DFML 34.50 Increased By ▲ 1.31 (3.95%)
DGKC 78.90 Increased By ▲ 2.03 (2.64%)
FCCL 20.85 Increased By ▲ 0.32 (1.56%)
FFBL 33.78 Increased By ▲ 2.38 (7.58%)
FFL 9.70 Decreased By ▼ -0.15 (-1.52%)
GGL 10.11 Decreased By ▼ -0.14 (-1.37%)
HBL 117.85 Decreased By ▼ -0.08 (-0.07%)
HUBC 137.80 Increased By ▲ 3.70 (2.76%)
HUMNL 7.05 Increased By ▲ 0.05 (0.71%)
KEL 4.59 Decreased By ▼ -0.08 (-1.71%)
KOSM 4.56 Decreased By ▼ -0.18 (-3.8%)
MLCF 37.80 Increased By ▲ 0.36 (0.96%)
OGDC 137.20 Increased By ▲ 0.50 (0.37%)
PAEL 22.80 Decreased By ▼ -0.35 (-1.51%)
PIAA 26.57 Increased By ▲ 0.02 (0.08%)
PIBTL 6.76 Decreased By ▼ -0.24 (-3.43%)
PPL 114.30 Increased By ▲ 0.55 (0.48%)
PRL 27.33 Decreased By ▼ -0.19 (-0.69%)
PTC 14.59 Decreased By ▼ -0.16 (-1.08%)
SEARL 57.00 Decreased By ▼ -0.20 (-0.35%)
SNGP 66.75 Decreased By ▼ -0.75 (-1.11%)
SSGC 11.00 Decreased By ▼ -0.09 (-0.81%)
TELE 9.11 Decreased By ▼ -0.12 (-1.3%)
TPLP 11.46 Decreased By ▼ -0.10 (-0.87%)
TRG 70.23 Decreased By ▼ -1.87 (-2.59%)
UNITY 25.20 Increased By ▲ 0.38 (1.53%)
WTL 1.33 Decreased By ▼ -0.07 (-5%)
BR100 7,626 Increased By 100.3 (1.33%)
BR30 24,814 Increased By 164.5 (0.67%)
KSE100 72,743 Increased By 771.4 (1.07%)
KSE30 24,034 Increased By 284.8 (1.2%)
Business & Finance - 2021-01-11
South African rand hits two-month low, Naspers lifts stocks
Forex

South African rand hits two-month low, Naspers lifts stocks

  • The rand was at 15.5800 versus the dollar, 1.86% weaker than its previous close, and trading at its weakest since Nov. 13.
  • A stronger US Dollar and a worsening COVID-19 situation in South Africa could see a break above resistance toward the November swing high at 15.7357.
Published 11 Jan, 2021 09:52pm
Euro zone bond yields jump as risk-off mood grips markets
Financial

Euro zone bond yields jump as risk-off mood grips markets

  • The market trend shifted abruptly in Europe as Wall Street opened and expectations of a multi-trillion-dollar stimulus plan lifted US 10-year notes yields to 1.134%.
  • Germany's 10-year Bond yield reversed earlier falls and rose to -0.491%, its highest in two months.
Published 11 Jan, 2021 09:48pm
TSX falls as energy stocks, virus concerns weigh
Stocks

TSX falls as energy stocks, virus concerns weigh

  • The energy sector dropped 1.4% as US crude prices were down 1.2% a barrel, while Brent crude lost 1.6%.
  • Toronto Stock Exchange's S&P/TSX composite index was down 63.94 points, or 0.35%, at 17,978.13.
Published 11 Jan, 2021 09:26pm
Yields highest since March ahead of stimulus, supply
Financial

Yields highest since March ahead of stimulus, supply

  • Biden also called for raising the minimum wage to $15, a campaign promise, and for sending out $2,000 in direct cash payments.
  • Benchmark 10-year notes rose as high as 1.134%, the highest since March 20. The yield curve between two-year and 10-year notes steepened to 99.7 basis points.
Published 11 Jan, 2021 09:23pm
Dollar extends rebound as US yields climb
Forex

Dollar extends rebound as US yields climb

  • US President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress.
  • US government bond yields have logged big moves in recent sessions, with the Treasury yield curve experiencing a significant increase in yields in longer-dated bonds.
Published 11 Jan, 2021 08:57pm
Creditors consider action against Air Seychelles in Etihad debt saga
Companies

Creditors consider action against Air Seychelles in Etihad debt saga

  • The action under consideration is the latest twist in broader creditor efforts to recover $1.2 billion in funds owed by Abu Dhabi's Etihad Airways and related airlines including Air Seychelles.
  • Air Seychelles latest proposal, disclosed last month in a regulatory filing by the special purpose vehicle, EA Partners, sought a writedown of more than 70% of the outstanding debt.
Published 11 Jan, 2021 07:58pm
Staples offers $2.1bn cash to buy Office Depot parent
IT and Computers

Staples offers $2.1bn cash to buy Office Depot parent

  • The US Federal Trade Commission blocked Staple's $6.3 billion offer in 2016, saying a merger between the two could reduce competition for nationwide contracts for office supplies.
  • Staples said it is prepared to take "all necessary measures" to divest ODP's B2B Business to a FTC approved and qualified buyer.
Published 11 Jan, 2021 07:55pm
Jewellery maker Pandora shuts one in four stores worldwide
Companies

Jewellery maker Pandora shuts one in four stores worldwide

  • Pandora, the world's biggest jewellery maker, said consumers had shifted spending away from travelling and services to jewellery in the fourth quarter.
  • The EBIT (earnings before interest and tax) margin is expected at around 20%, compared to the 17.5%-19% guidance range in late-December, it said.
Published 11 Jan, 2021 07:48pm
End-game for Libor is now clear, say UK financial regulators
Forex

End-game for Libor is now clear, say UK financial regulators

  • Firms should have everything they need to shift new financial contracts to SONIA, the BoE overnight interest rate.
  • Regulators want the use of Libor ended after banks were fined for trying to rig what was once dubbed the world's most important number.
Published 11 Jan, 2021 06:42pm
Sri Lankan shares end higher for tenth straight session
Stocks

Sri Lankan shares end higher for tenth straight session

  • The benchmark stock index closed up 1.18% at 7,203.63, its highest closing level since September 2015.
  • Browns Investments Plc and conglomerate Expolanka Holdings Plc were the top boosts to the index, ending up 13.9% and 13.7%, respectively.
Published 11 Jan, 2021 06:35pm
India signs purchase order with Serum for AstraZeneca vaccine
Companies

India signs purchase order with Serum for AstraZeneca vaccine

  • Local television channel CNBC-TV 18 said the order was for 11 million doses and the government would buy the shots at 200 rupees ($2.72) per dose.
  • The government has also signed a purchase agreement with Indian firm Bharat Biotech for its COVID-19 vaccine.
Published 11 Jan, 2021 06:32pm
Business as usual for EU banks in 'open' London, says Bank of England
Money & Banking

Business as usual for EU banks in 'open' London, says Bank of England

  • Britain is keen to maintain the City of London's attractiveness as a global financial centre after full access to the EU, hitherto its biggest customer, ended last month.
  • Overall, the Prudential Regulation Authority's (PRA) approach to the supervision of international banks remains stable and consistent following the UK's withdrawal from the EU.
Published 11 Jan, 2021 06:26pm
Copper prices slide, demand worry dominates mood
Commodities

Copper prices slide, demand worry dominates mood

  • Benchmark copper on the London Metal Exchange was down 1.9% at $7,975 a tonne.
  • There has been a fair amount of profit-taking on long positions," a copper trader said. "The dollar and China's coronavirus cases triggered the sell-off, but copper has come a long way since (early) last year.
Published 11 Jan, 2021 06:02pm
NCR throws hat in the ring for Cardtronics with $1.73bn offer
Companies

NCR throws hat in the ring for Cardtronics with $1.73bn offer

  • Atlanta-based NCR, which makes ATMs and self-service kiosks for the retail and hospitality industries, proposed to buy all outstanding shares of Cardtronics for $39 apiece.
  • Apollo and Hudson Executive's offer indicated a value of $2.3 billion, including net debt.
Published 11 Jan, 2021 05:55pm
Global natural gas production down 3.6pc in 2020
Energy

Global natural gas production down 3.6pc in 2020

  • Output fell to 3,918 billion cubic metres (bcm) with North American production hardest hit, Rystad Energy estimates showed, lower than a previous estimate.
  • Reflecting the impact of lockdowns to curb the spread of the coronavirus, demand in Europe fell by 7%, or 40 bcm
Published 11 Jan, 2021 05:37pm
Euro falls to three-week lows as US yields climb
Forex

Euro falls to three-week lows as US yields climb

  • President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised "trillions" in extra pandemic-relief spending.
  • As a result, the euro fell 0.5% to $1.2155, its lowest since Dec. 21, down nearly 2% from a high of $1.2349 last week.
Published 11 Jan, 2021 05:35pm
PM launches Pakistan's first instant Digital Payment System 'Raast'

PM launches Pakistan's first instant Digital Payment System 'Raast'

  • Use of cash promotes informal economy and helps illegal activities, on the other hand by using the Raast one is doing the right thing by transacting using formal digital Financial Service and contributing to Pakistan's economy.
  • SBP along with Karandaaz Pakistan has developed this new system for processing instant payments.
  • The Prime Minister in his address said a cash-based economy is the biggest hurdle in tapping the true potential of Pakistan.
Updated 11 Jan, 2021 06:17pm
NEPRA hikes up electricity rates by Rs 1.06 per unit

NEPRA hikes up electricity rates by Rs 1.06 per unit

  • The adjustments increases of Rs.0.2925/kWh and Rs.0.7696/kWh for the months of October 2020 and November 2020 respectively will be applicable to all the consumer categories except lifeline consumers of all the XWDISCOs, stated NEPRA.
Published 11 Jan, 2021 01:20pm
Palm falls as Jan 1-10 exports plunge
Commodities

Palm falls as Jan 1-10 exports plunge

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 20 ringgit, or 0.5%, to 3,810 ringgit ($942.60) a tonne in early trade.
Published 11 Jan, 2021 11:36am
Bangladesh issues tender to buy 50,000 T of rice
Commodities

Bangladesh issues tender to buy 50,000 T of rice

  • Bangladesh's rice imports are likely to surge to two million tonnes in the 2020/21 financial year as local prices jumped to a record high on limited supplies, a senior government official told Reuters last week.
Published 11 Jan, 2021 11:28am