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Pakistan Published 02 Mar, 2021 04:03pm

Pakistan condemns Houthi attacks against Saudi Arabia

  • A Houthi projectile injured five civilians in a border village in Jazan region.
  • "Pakistan also calls on Houthi militia to halt its attacks on Ma’arib governorate in Yemen. We reiterate our call for a comprehensive political solution to the conflict in Yemen through peaceful means," FO said.
Pakistan condemns Houthi attacks against Saudi Arabia
Currency Rate
USD PKR Interbank Selling / Mar 2
158.00
USD PKR Interbank Buying / Mar 2
157.90
USD to Japanese Yen / Mar 2
106.88
USD to Swiss Franc / Mar 2
0.92
Pound Sterling to USD / Mar 2
1.39
Euro to USD / Mar 2
1.20
UK LIBOR % / Mar 2
0.08
Stock Volume
S&P 500 / Mar 2
3901.82
India Sensex / Mar 2
49849.84
Tokyo Nikkei / Mar 2
29892.14
Nasdaq / Mar 2
13588.83
Hang Seng / Mar 2
29452.57
FTSE 100 / Mar 2
6588.53
Dow Jones / Mar 2
31535.51
Germany DAX 30 / Mar 2
14012.82
France CAC40 / Mar 2
5792.79
Item Value
Crude Oil / Mar 2
60.12
Karachi Cotton Assoc. / Mar 2
11900.00
Gold 10 Grams / Mar 2
94564.00
Gold Spot / Mar 2
1724.90
Cotton / Mar 2
91.57

Business & Finance

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
Stocks

TSX boosted by better-than-expected GDP data

  • Toronto Stock Exchange's S&P/TSX composite index was up 61.85 points, or 0.34%, at 18,361.47.
  • On the TSX, 134 issues were higher, while 76 issues declined for a 1.76-to-1 ratio favouring gainers, with 25.43 million shares traded.
Published 02 Mar, 2021 09:30pm
Forex

Dollar index higher, Aussie gains on better risk sentiment

  • If you do see volatility the natural inclination is to take risk off the table, in this case it just basically means getting out of existing positions and the dollar shorts are extremely elevated at this point.
  • Short US dollar positions were last at $29.33 billion, according to data by the Commodity Futures Trading Commission.
Published 02 Mar, 2021 09:33pm

Online demand fuels Abercrombie & Fitch profit beat, rosy sales outlook

  • The company, which said it would resume share buybacks, also benefited from increased prices during the holidays as it reined in promotions and tightened inventory.
  • It projected a 30% to 40% increase in net sales in the first quarter versus an average analysts' estimate for a 32.8% jump to $644.62 million.
Published 02 Mar, 2021 09:23pm
Ireland's AIB buys back Goodbody Stockbrokers for 138mn euros
Money & Banking

Ireland's AIB buys back Goodbody Stockbrokers for 138mn euros

  • AIB, one of two dominant banks in the concentrated Irish market, said in December it was in talks with a number of parties to plug gaps in life, savings and wealth products and expected to finalise the transactions in 2021.
  • AIB said it acquired the entire share capital of the firm for an enterprise value of 82 million euros alongside around 56 million euros excess cash on Goodbody's balance sheet.
Published 02 Mar, 2021 09:43pm
Commodities

Chile's Codelco copper output jumps in January, Escondida dips

  • The state-run Chilean Copper Commission (Cochilco) reported that production by Codelco, the world's largest miner of the red metal, rose 19.4% year-on-year to 142,000 tonnes in the month.
  • Collahuasi - a partnership between Glencore and Anglo American along with Japanese companies - posted a 6.5% year-on-year rise in production to 57,000 tonnes.
Published 02 Mar, 2021 09:41pm
Companies

Reliance Jio splashes out $8bn in Indian airwaves auction

  • Jio picked up a total of 488.35 megahertz (Mhz) in frequency bands of 800 Mhz, 1800 Mhz and 2300 Mhz, India's telecoms secretary Anshu Prakash told reporters.
  • The top three Indian wireless carriers - Jio, Bharti Airtel and Vodafone Idea - together bought airwaves worth 778.15 billion rupees ($10.60 billion) at the close of the two-day auction, Prakash said.
Published 02 Mar, 2021 09:10pm
Stocks

Brazilian stocks, currency fall as tax hikes spook investors

  • The US dollar strengthened about 2% against the real, sending the Brazilian currency to a three-month low despite a central bank auction selling $1 billion in the spot market.
  • The benchmark Bovespa equities index fell as much 2.7% in morning trade, with all but one of its constituent companies in the red, before paring losses to 1.3% by midday.
Published 02 Mar, 2021 09:07pm

BR Research

Pakistan

PML-N to hold anti-govt protests across Punjab

  • The PML-N will hold demonstration in Mianwali on March 3, Gujranwala and Mandi Bahauddin on March 5, Narowal and Sialkot on March 7
  • The opposition party has not yet finalised dates for protests in Faisalabad, Kasur, Sheikhupura, Jhelum, Layyah and Rajanpur
Published 02 Mar, 2021 04:31pm

Pakistan condemns Houthi attacks against Saudi Arabia

  • A Houthi projectile injured five civilians in a border village in Jazan region.
  • "Pakistan also calls on Houthi militia to halt its attacks on Ma’arib governorate in Yemen. We reiterate our call for a comprehensive political solution to the conflict in Yemen through peaceful means," FO said.
Published 02 Mar, 2021 04:03pm

Latest

Print

Feb CPI rate rises to 8.70pc

Feb CPI rate rises to 8.70pc
ISLAMABAD: The Consumer Price Index (CPI) has recorded an increase of 8.7 percent on year-on-year basis in February... Updated 02 Mar, 2021 09:41am
Print

Around 30 MNAs meet PM

Around 30 MNAs meet PM
ISLAMABAD: The “ordinary” parliamentarians, who were long awaiting a glimpse of Prime Minister Imran Khan,... Updated 02 Mar, 2021 09:41am

World

Europe

Big economies agree to boost IMF funding, Georgieva says

  • "We finally last Friday at the G20 meeting got a green (light) to work on a new SDR allocation," Kristalina Georgieva said during the IMF's African Fiscal Forum, broadcast online.
  • "500 billion - in which each and every member of the IMF would receive its own share immediately contributing to reserves," she said, without specifying the currency unit.
Published 02 Mar, 2021 09:21pm
South Asia

Malaysia approves Sinovac, AstraZeneca COVID-19 vaccines for use

  • Malaysia began its vaccination drive on Feb. 24 using a shot developed by US drugmaker Pfizer and German partner BioNTech, as it tries to rein in a spike in infections and help revive an economy that recorded its worst slump in more than two decades last year.
  • Sinovac signed a deal with Malaysia's Pharmaniaga, which will carry out a fill-and-finish process for the vaccine's distribution in Malaysia, before later manufacturing it locally.
Published 02 Mar, 2021 07:17pm
ECP deserves praise

ECP deserves praise

EDITORIAL: Commendably for it, the Election Commission of Pakistan (ECP) has effectively dealt with some serious...

Back to full-time school

EDITORIAL: The government’s decision to reopen schools five days a week across the country from 1 March 2021 is...
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