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Spain to hike taxes on firms, the wealthy
Business

Spain to hike taxes on firms, the wealthy

  • EU finance ministers agreed in March to suspend stringent rules on running public deficits to allow member states to spend freely to tackle the impact of the pandemic.
Published 27 Oct, 2020 11:43pm
Lucky Cement records CE of Rs5.13bn
Pakistan

Lucky Cement records CE of Rs5.13bn

  • During the first quarter 2020-21 under review, the company’s overall consolidated net profit increased by 242pc as compared to the same period last year.
Published 27 Oct, 2020 11:41pm
CM condemns blast in Peshawar
Pakistan

CM condemns blast in Peshawar

  • The Punjab government fully shared the grief of the bereaved families, he said and added that this act of terrorism was highly condemnable.
Published 27 Oct, 2020 11:13pm
TSX flat as downbeat earnings offset energy gains
Markets

TSX flat as downbeat earnings offset energy gains

  • The Toronto Stock Exchange's S&P/TSX composite index was down 7.43 points, or 0.05%, at 16,072.12.
  • On the TSX, 141 issues were higher, while 74 issues declined for a 1.91-to-1 ratio favouring gainers, with 15.65 million shares traded.
Published 27 Oct, 2020 08:48pm
Gold gains as dollar eases, coronavirus concerns persist
Markets

Gold gains as dollar eases, coronavirus concerns persist

  • Spot gold was up 0.2% at $1,906.10 per ounce at 10:21 a.m. EST (1421GMT). US gold futures rose 0.2% to $1909.40.
  • Gold is stuck in a tight range and there's probably not going to be too much activity before the election, he added.
Updated 27 Oct, 2020 09:29pm
Bank of England set to return to the stimulus pump
Business

Bank of England set to return to the stimulus pump

  • BoE expected to bolster bond-buying programme again.
  • Economists predict 100 billion-pound rise - Reuters poll.
  • Negative rates under feasibility review.
  • Markets have reduced bets on rates turning negative.
Published 27 Oct, 2020 08:41pm
Hyundai's Motional partners with Via to launch US robotaxi service in 2021
Business

Hyundai's Motional partners with Via to launch US robotaxi service in 2021

  • The partnership, which plans to launch the rides in the first half of 2021, aims to combine Motional's driverless vehicles with Via's technology that powers booking, routing passenger and vehicle assignment.
  • The partnership on Tuesday said it was working to ensure the health and safety of vehicle occupants.
Updated 27 Oct, 2020 09:29pm
Bloomberg is funding late $15mn push to help Biden in Texas, Ohio
World

Bloomberg is funding late $15mn push to help Biden in Texas, Ohio

  • Bloomberg asked his team to see polling data from multiple states and after reviewing the numbers on Monday decided to invest additional money to support Biden in Texas and Ohio.
  • Bloomberg will also increase pro-Biden advertising in Florida, fortifying a campaign that began mid-September with daily ads in 10 Florida media markets.
Published 27 Oct, 2020 07:19pm
Lufthansa braces for very slow recovery in passenger demand
Business

Lufthansa braces for very slow recovery in passenger demand

  • First-quarter capacity is expected to be up to 25% of pre-crisis levels, unchanged from the current quarter and well short of the 50% previously envisaged by the end of this year.
  • Business customers, traditionally the carrier's cash cow, remain a rarity but are returning on the carrier's China routes.
Published 27 Oct, 2020 07:13pm
China phases out use of 'X-factor' in managing yuan value
Business

China phases out use of 'X-factor' in managing yuan value

  • The China Foreign Exchange Trade System said in a statement it would change the price adjustment model of the central parity rate of the yuan versus the dollar to promote transparency and efficiency.
  • "This does not necessarily mean that they are seeking to actively weaken the yuan - it is just that those tools are no longer needed."
Published 27 Oct, 2020 07:11pm
Facebook's top India lobbyist Das quits after content row
Business

Facebook's top India lobbyist Das quits after content row

  • Das, who was Facebook's public policy head for India, South & Central Asia, has decided to step down to pursue her interest in public service.
  • The WSJ "article does not reflect the person I know or the extraordinarily complex issues we face everyday that benefits from Ankhi and the Public Policy team's expertise.
Published 27 Oct, 2020 06:53pm