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Pakistan Updated 03 Mar, 2021 07:10pm

In upset for PTI, PPP's Yousuf Raza Gilani wins Senate seat from Islamabad

  • Gilani received 169 votes while Sheikh was able to muster 164 votes.
    • Independent candidate Abdul Qadir, JUI-F's Maulana Abdul Ghafoor Haideri and BNP's Muhammad Qasim have each been elected to a general seat
    • MQM's candidate for a women's seat Khalida Ateeb won with 57 votes, while PPP's Palwasha Khan also won with 60 votes
In upset for PTI, PPP's Yousuf Raza Gilani wins Senate seat from Islamabad
Currency Rate
USD PKR Interbank Selling / Mar 3
157.65
USD PKR Interbank Buying / Mar 3
157.55
USD to Japanese Yen / Mar 3
106.75
USD to Swiss Franc / Mar 3
0.92
Pound Sterling to USD / Mar 3
1.40
Euro to USD / Mar 3
1.21
UK LIBOR % / Mar 3
0.08
Stock Volume
S&P 500 / Mar 3
3870.29
India Sensex / Mar 3
50296.89
Tokyo Nikkei / Mar 3
29408.17
Nasdaq / Mar 3
13358.79
Hang Seng / Mar 3
29095.86
FTSE 100 / Mar 3
6613.75
Dow Jones / Mar 3
31391.52
Germany DAX 30 / Mar 3
14039.80
France CAC40 / Mar 3
5809.73
Item Value
Crude Oil / Mar 3
59.40
Karachi Cotton Assoc. / Mar 3
11900.00
Gold 10 Grams / Mar 3
94564.00
Gold Spot / Mar 3
1734.60
Cotton / Mar 3
90.99

Business & Finance

Bharat Biotech's COVID-19 shot 81pc effective
Companies

Bharat Biotech's COVID-19 shot 81pc effective

  • COVAXIN demonstrates high clinical efficacy trend against COVID-19 but also significant immunogenicity against the rapidly emerging variants.
  • Only about 11% of the more than 10 million Indians vaccinated had taken the Bharat Biotech shot as of last week.
Published 03 Mar, 2021 07:16pm
Companies

Takeda buys epilepsy treatment rights from Ovid for up to $856mn

  • Takeda will be responsible for future development and commercialization of the drug, soticlestat, worldwide and Ovid will no longer have any financial obligation, the companies said.
  • The companies in August reported results from a mid-stage study showing soticlestat met the main goal of reduction in seizure frequency.
Published 03 Mar, 2021 07:01pm
Companies

Thales Alenia Space signs 772mn euro EU satellite contract

  • Under the deal, Thales Alenia Space will build six satellites which will be part of a second generation of the so-called "Galileo constellation". Preliminary information on the deal had emerged in January.
  • The first satellites of this second generation will be placed in orbit by the end of 2024, the statement said.
Published 03 Mar, 2021 06:59pm
Companies

Boston Scientific to buy surgical business of Lumenis for $1.07bn

  • The medical device maker said it was acquiring the business from Baring Private Equity Asia (BPEA), which will retain ownership of the Lumenis global aesthetics and ophthalmology businesses.
  • We are confident that Boston Scientific, as a global leader in urology, and our long-time commercial partner, is the best organization to carry this legacy forward.
Published 03 Mar, 2021 06:43pm
Japan's Mitsui to invest in UK carbon capture project
Companies

Japan's Mitsui to invest in UK carbon capture project

  • The Japanese company will take a 15.4% share in Storegga Geotechnologies which is developing the Acorn CCS project to store carbon dioxide emissions in depleted North Sea oil and gas reservoirs.
  • CCS traps emissions and buries them underground but is not yet at the commercialisation stage.
Published 03 Mar, 2021 06:41pm
Industry

Ryanair hopes for 60-70pc of normal traffic this summer

  • "We would be hopeful that we could fly maybe 60, 70% of our normal traffic volumes during the peak summer months ... June, July, August and September," he said. "That's about as optimistic as its going to get."
  • "We don't need a taskforce, we just need action," O'Leary said. "The real challenge is timing here ... we need to give them the clarity to book their summer holidays."
Published 03 Mar, 2021 06:39pm
Companies

SoftBank aims to double PayPay users in cashless payments fight

  • "We want to double the user base during the investment phase," Z Holdings co-CEO Kentaro Kawabe said in a joint interview with fellow co-CEO Takeshi Idezawa.
  • Z Holdings announced on Monday that Line Pay, which has 39 million users but is less widely used and has signed up fewer merchants, would be merged with PayPay in 2022.
Published 03 Mar, 2021 06:33pm
Money & Banking

Rising euro zone rates a drag on growth, inflation, says ECB's De Cos

  • "These developments underline the importance of avoiding premature increases in nominal interest rates," de Cos added.
  • The ECB will next meet on March 11 and while an outright increase in the 1.85 trillion-euro Pandemic Emergency Bond Purchase quota is not likely, the ECB could say it will increase the flow of purchases to cap yields.
Published 03 Mar, 2021 06:29pm

BR Research

BR Research
Big banks stand out

Big banks stand out

What if the assets base did not grow much? What if the interest rates were down from a year ago? Having muscle...
Published 03 Mar, 2021 07:35am
BR Research

Talk about peace

Economy and security are intrinsically linked. So the economic observers, too, were taken by a positive surprise ...
Published 03 Mar, 2021 07:40am
BR Research

The sweet LNG deal

Last week, Pakistan signed a long-term contract of LNG supply from Qatar at 10.2 percent of Brent, which is at...
Published 02 Mar, 2021 07:25am

Pakistan

Middle East

Pakistan offers military training to Qatari armed forces

  • Pakistan's Federal Minister for Defense Production Zobaida Jalal, has offered military training to the Qatari Armed Forces, adding that her country's military institutions were open to soldiers belonging to the Arab state.
  • Last month, the two countries signed a 10-year Liquefied Natural Gas supply contract at the “lowest-ever publicly disclosed price under a long-term contract in the world.”
Updated 03 Mar, 2021 02:59pm

PM Imran casts vote for Senate elections

  • The premier also interacted with the MNAs of PTI and allied parties
  • The voting process through secret ballot began for Senate elections on 37 seats will continue till 5:00 pm today
Published 03 Mar, 2021 12:20pm

Faisal Vawda resigns from NA to avoid disqualification

  • The legal team of the PTI leader tendered his resignation in Islamabad High Court where a disqualification case is pending against him
  • Vawda's counsel stated that the case against him in the court now stands ineffective following his resignation
Published 03 Mar, 2021 11:02am

Latest

World

Economy: disturbing data

EDITORIAL: Disturbing macroeconomic data was released over the weekend by the Ministry of Finance, the Pakistan...

SC on Senate polls

EDITORIAL: The much-anticipated Supreme Court (SC) ruling on the upcoming Senate polls was delivered on March 1,...
ECP deserves praise

ECP deserves praise

EDITORIAL: Commendably for it, the Election Commission of Pakistan (ECP) has effectively dealt with some serious...
How the 'pawri' united Pakistan and India

How the 'pawri' united Pakistan and India

Dananeer Mobeen says she has been inundated with acting and modelling offers. Instead, she aspires to join Pakistan’s foreign services. Updated 03 Mar, 2021 11:47am
Cricket gets forgotten in IPL, PSL more focused on the game: Steyn

Cricket gets forgotten in IPL, PSL more focused on the game: Steyn

  • “When you come to like a PSL or the Sri Lankan Premier League (SPL), for that matter, there is an importance on the cricket," says the Right-arm pacer.
  • “I have only been here for a couple of days and I have had people in and out of my room, just wanting to know about where I have played and how I went about it. Whereas, when I go to something like the IPL that gets forgotten and the main topic is how much money did you go for in this IPL?” says Quetta Gladiator fast-bowler.
Updated 02 Mar, 2021 09:30pm
Hendry targets Crucible after snooker return

Hendry targets Crucible after snooker return

  • Hendry's return has been described as a "strange one" by world number one Judd Trump and Ronnie O'Sullivan warned he would be plunged into a "rat race".
Published 03 Mar, 2021 11:52am