News Archives for Latest - 2020-07-14

Business & Finance

Hydrocarbon reserves discovered in Kohat

The well has tested 3,240 barrels per day of condensate, 16.12 MMscf per day of gas, and 48 barrels per day of water.

Updated 17 Jul, 2020 03:57pm

Pakistan

Govt's steps against COVID-19 prove useful: Buzdar

The CM deplored that the opposition left the affectees alone while engaging itself in point-scoring.

Published 14 Jul, 2020 11:41pm

Pakistan

Government well aware of issues of marriage hall owners: Nasir Shah

The marriage hall owners expressed their concerns to the Sindh Local Government Minister regarding the closure of their business.

Published 14 Jul, 2020 11:37pm

Pakistan

47 more coronavirus cases surfaced in Balochistan

As many as 7883 affected patients had been recovered from the coronavirus so far while 127 deaths were recorded due to the deadly virus in Balochistan.

Published 14 Jul, 2020 11:30pm

Pakistan

Opposition not playing constructive role in Parliament: Faisal Javed

He said the incumbent government would not make any compromise on across the board accountability process against the corrupts and plunderers.

Published 14 Jul, 2020 11:25pm

Pakistan

40 trains to be made operational during Eid: Shaikh Rasheed

The number of trains could be increased to facilitate the people to go their native villages to celebrate Eid with the beloved ones, he said talking to a private news channel.

Published 14 Jul, 2020 11:23pm

Pakistan

Razak show optimism in progress on ‘Ease of Doing Business’ progress

He said the government has done a lot of work and is keeping this momentum to pursue further reforms for improving the overall business climate and sustaining our progress in the EODB Index.

Published 14 Jul, 2020 11:23pm

Pakistan

OGRA determines new gas tariff with 6pc decrease on SNGPL, 2pc SSGC networks

The SNGPL had demanded to fix the tariff at Rs. 1287.19 per Million British Thermal Unit (MMBTU) against the existing price of Rs. 664.25 per MMBTU, he said.

Published 14 Jul, 2020 11:20pm

Pakistan

Mayor Karachi advises people to adopt preventive measures on Eid-ul-Azha against Congo Virus

The people were also advised to avoid eating anything in the cattle markets and keep boiled water with them for drinking.

Published 14 Jul, 2020 11:18pm

Pakistan

Coronavirus claims 37 more lives, infects 1151 others in Sindh: CM

The chief minister said that overnight 9972 samples were tested against which 1151 new cases emerged that constituted 12 percent detection rate.

Published 14 Jul, 2020 11:15pm

Pakistan

33 new COVID-19 patients tested positive in AJK raising tally to 1688

A the same time, 1049 patients out of total 1688 tested positive in AJK, had been discharged after complete recovery from various health facilities across the state so far.

Published 14 Jul, 2020 11:13pm

Pakistan

Sindh govt taking Rs20mn extortion money from fesheries dept, alleges Haleem Adil

He said PTI would support the rights of poor fishermen. He said that the PPP was responsible for the plight of the poor fishermen.

Published 14 Jul, 2020 11:11pm

Pakistan

Fawad asks Opposition to sit together for amendments in laws

The farmers community could enjoy the benefit from Made in Pakistan, drone technology for protecting crops from locusts attack, he stated.

Published 14 Jul, 2020 11:10pm

Pakistan

Buzdar for Nishtar-II project completion on fast-track basis

He said the project's estimated cost was Rs9 billion and initially 500 beds were being installed in the hospital while another 500 would be added in the next phase.

Published 14 Jul, 2020 11:07pm

Commodities

Gold edges above $1,800/oz, propped up by virus woes

Spot gold rose 0.2% to $1,805.83 per ounce by 10:42 am EDT (1442 GMT). US gold futures fell 0.2% to $1,810.20.
The World Health Organization (WHO) warned the pandemic would worsen if countries failed to adhere to strict precautions, as global cases surpassed 13 million.

Published 14 Jul, 2020 09:25pm

Industry

India's auto sales to take 3-4 years to return to peak levels

In the fiscal year that began on April 1, sales of cars, sport utility vehicles (SUVs), motorbikes and trucks have already fallen 75% from a year ago to about 1.5 million vehicles.
The impact of COVID-19 is going to be very harsh on the auto industry. As of now, we are staring into a very deep slowdown.

Published 14 Jul, 2020 09:17pm

Forex

Dollar falls on rising euro, higher US stocks

The US dollar index, which measures the safe-haven greenback against a basket of six rival currencies, was down 0.31% to 96.265.
The European Union's approval of its recovery fund may see the euro test $1.150 with a break leading to a test of crucial resistance levels around $1.180.

Published 14 Jul, 2020 09:13pm

Pakistan

JI MPA serves Rs100m defamation notice on official of Lyari Medical College

At a gathering at the college, the PRO had leveled frivolous allegations of corruption on the MPA.

Published 14 Jul, 2020 09:09pm

Industry

Boeing 737 MAX cancellations top 350 planes in first half of 2020

The planemaker, which has now been striving to get its once best-selling MAX planes back in the air for more than a year after two fatal crashes led to its grounding,
Deliveries are financially important to planemakers because airlines pay most of the purchase price when they actually receive the aircraft.

Updated 14 Jul, 2020 09:13pm

Sports

Black players allege 'racial divide' in South African cricket

Current black players such as Kagiso Rabada and Ngidi were not included, nor were any white players.

Updated 14 Jul, 2020 09:03pm

Technology

Ericsson, Nokia say ready to step in after UK 5G Huawei ban

The UK's digital minister announced "from the end of this year, telecoms providers must not buy any 5G equipment from Huawei".

Published 14 Jul, 2020 08:57pm

Europe

Baby infected with COVID-19 in the womb: study

Last week, researchers in Italy said that data on 31 pregnant women hospitalised with COVID-19 suggested the virus could be passed on to unborn infants.

Published 14 Jul, 2020 08:55pm

Middle East

Qatar wins air blockade case at top UN court

The Gulf states abruptly severed ties with Qatar in June 2017, accusing the gas- and oil-rich country of backing radical Islamists and Iran.

Published 14 Jul, 2020 08:52pm

Industry

India's Flipkart to raise $1.2bn in Walmart-led funding

The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after US retail giant Walmart paid $16 billion for a more than 70% stake in Flipkart.
Amazon's revenues have soared this year due to higher sales of groceries and household staples during the coronavirus pandemic.

Published 14 Jul, 2020 08:31pm

Business & Finance

Saudi Arabia permanently cancels licence of Qatar's beIN Sports

GAC said in a statement on its website and carried by state television that it was also fining beIN Sports 10 million riyals ($2.7 million) for alleged "monopolistic practices".
The broadcaster initially blocked in Saudi Arabia under a boycott imposed when Riyadh and its allies severed diplomatic.

Published 14 Jul, 2020 08:26pm

Financial

Yields dip as inflation stays benign, stocks weaken

Core inflation rose 0.2% on the month but remained at 1.2% on the year, below the Fed's target of 2%.
I think broadly speaking the market's really focused on the core year-on-year," said Subadra Rajappa, head of US interest rate strategy at Societe Generale in New York.

Published 14 Jul, 2020 08:23pm

Stocks

S&P 500, Nasdaq fall on tech selloff, mixed bank earnings

JPMorgan tops estimates, Wells Fargo swings to loss.
Delta warns air travel recovery two years away.
Technology falls the most among S&P sectors.
Indexes: Dow up 0.34%, S&P down 0.31%, Nasdaq falls 0.95%.

Published 14 Jul, 2020 08:20pm

Stocks

TSX dips on surging virus cases, US-China tensions

Oil prices fell on Tuesday with OPEC+ set to taper its record production cut of 9.7 million barrels per day (bpd) to 7.7 million bpd from August through December.
The energy sector climbed 0.9% even as US crude prices were down 0.5% a barrel, while Brent crude lost 0.1%.

Published 14 Jul, 2020 08:14pm

Industry

India's Lupin shuts drug plant after 17 staff test positive for COVID-19

Employees from one of those plants, which produces tuberculosis drugs, have tested positive in recent days, said MD Modia.
The plant was shut on July 12 after the cases were confirmed," said Modia, adding that the site has since been sanitized.

Published 14 Jul, 2020 08:09pm

Industry

German court bans Tesla ad statements related to autonomous driving

Case brought by industry-sponsored body.
Electric vehicle maker can appeal the ruling.
Tesla autopilot system has faced regulator criticism.

Published 14 Jul, 2020 08:06pm

Business & Finance

Zurich chairman calls high dividend ‘duty to shareholders’

"The board of directors had proposed a dividend for 2019 of 20 Swiss francs, a level that we can sustainably pay.
The high dividend is an obligation to our shareholders. We have no intention of changing anything in the short term.

Published 14 Jul, 2020 08:02pm

Financial

BlackRock says targeted critical climate votes on energy companies

The report was sent by a company spokesman on Tuesday. Under pressure from clients and activists.
The tally in Tuesday's report included votes that BlackRock cast for resolutions and against directors,

Updated 14 Jul, 2020 08:02pm

Technology

Google in talks for $4bn stake in India's Jio digital platforms: Bloomberg

The report came a day after Sunder Pichai said it would invest $10 billion in the country over the next five to seven years.

Published 14 Jul, 2020 07:22pm

Business & Finance

US inflation spikes 0.6pc in June on rising gas prices: report

For the 12 months ended in June, CPI was up 0.6 percent, compared to just 0.1 percent in May.
The core inflation measure was up 1.2 percent.

Published 14 Jul, 2020 07:19pm

World

US carries out first federal execution in 17 years

Lee, of Yukon, Oklahoma, and another man were convicted of murdering the Arkansas family during a robbery.

Published 14 Jul, 2020 07:16pm

Stocks

US stocks edge higher after mixed bank results

The broad-based S&P 500 added 0.1 percent at 3,157.24, while the tech-rich Nasdaq Composite Index gained 0.3 percent to 10,419.35.

Published 14 Jul, 2020 07:14pm

Commodities

Raw sugar dips to two-week low, cocoa and coffee also down

October raw sugar slipped 0.12 cents, or 1.0%, to 11.46 cents per lb by 1140 GMT after dipping to a two-week low of 11.42 cents.
September New York cocoa slid $35, or 1.6%, to $2,158 a tonne.

Published 14 Jul, 2020 07:04pm

Energy

US natgas futures slip on rising output, low LNG exports

Traders noted prices were down despite forecasts for more hot weather and higher cooling demand over the next two weeks and an increase in pipeline exports to Canada and Mexico.
Refinitiv forecast US demand, including exports, will rise from 90.4 bcfd this week to 92.9 bcfd next week. That was higher than Refinitiv's outlook on Monday.

Published 14 Jul, 2020 06:56pm

Money & Banking

Citigroup quarterly profit tumbles 73pc as loan loss provisions surge

The New York-based bank reported a profit of $1.32 billion, or 50 cents per share, for the second quarter ended June 30, down from $4.8 billion, or $1.95 per share, a year earlier.
The largest US lenders have so far stashed away more than $52 billion to prepare for potential losses this year

Published 14 Jul, 2020 06:52pm

Industry

South African Airways creditors approve rescue plan

Administrator Siviwe Dongwana told a creditor meeting that the plan had been approved by 86% of voting interests.
The rescue plan envisages scaling back the state-owned airline's fleet and shedding jobs but requires the government to find at least 10 billion rand of new funds for it to work.

Published 14 Jul, 2020 06:48pm

Business & Finance

Wells Fargo swings to $2.4bn loss as pandemic bites

The bank, among the United States' biggest mortgage lenders, reported a net loss of $2.4 billion, or 66 cents per share.
Wells Fargo, which reported its first quarterly loss since December 2008, set aside $9.57 billion in credit loss provisions in the second quarter of the year, up from $503 million a year earlier.

Published 14 Jul, 2020 06:44pm

Energy

Oil dips on demand fears as OPEC+ considers output increase

OPEC+ panel expected to endorse easing of supply cuts.
Production cuts to taper off from August under supply pact.
Demand recovery threatened by surging coronavirus cases.

Published 14 Jul, 2020 06:42pm

Europe

UK economy limps out of COVID-19 slump as dire 2020 unfolds

GDP +1.8% m/m in May, below all Reuters poll forecasts.
Britain's economy shrank 25.9% over March and April.
Budget watchdog forecasts up-to 14% fall in GDP.
Economists raise doubts over V-shaped recovery.

Published 14 Jul, 2020 06:32pm

Europe

Hagia Sophia will open outside prayer time, says Turkey

Hagia Sophia was converted into a mosque in 1453 and later a museum.

Published 14 Jul, 2020 06:36pm

Middle East

Iran executes man convicted of spying for CIA: judiciary

Reza Asgari had worked at the defence ministry's aerospace division for years but retired around four years ago, the spokesman added.

Published 14 Jul, 2020 06:32pm

Industry

Ryanair to cut back Irish schedule over 'defective' quarantine

The Irish government this week is due to announce a list of EU countries exempt from the quarantine.
Dublin-based Ryanair, 8% of whose flights arrive in or depart from Ireland, was a leading critic of England's 14-day quarantine.

Published 14 Jul, 2020 06:29pm

Companies

AstraZeneca ties up with IQVIA to speed up studies of COVID-19 vaccine candidate

The collaboration is part of the US government's Operation Warp Speed to accelerate the development of COVID-19 vaccines and treatments.
AstraZeneca is among the drugmakers farthest along in the race to develop a safe and effective vaccine for COVID-19.

Published 14 Jul, 2020 06:26pm

Stocks

Most Middle Eastern stocks retreat on downbeat IMF forecasts

Zain Saudi Arabia slides as Q2 profit shrinks
Kuwait cancels Al-Dabdaba solar plant project

Published 14 Jul, 2020 06:21pm

Middle East

Several wounded in Syria attack on Russian-Turkish patrol

Syria's nine-year-old war has killed more than 380,000 people and displaced nearly half of the country's pre-war population.

Published 14 Jul, 2020 06:22pm

Stocks

Sri Lankan shares end higher as financials, consumer staples gain

Boosting the index, food and beverages maker Nestle Lanka Plc jumped 5% and cigarette maker Ceylon Tobacco Company Plc gained 1.3%.
Trading volume fell to 49.2 million from 49.8 million in the previous session, while equity market turnover was about 1.86 billion rupees.

Updated 14 Jul, 2020 06:21pm

Africa

UN probe urges Burundi to break 'cycle of violence'

At least 1,200 people were killed and more than 400,000 displaced in violence between April 2015 and May 2017.

Published 14 Jul, 2020 06:18pm

South Asia

Indian state of Bihar to go into lockdown

Bihar recorded a record 1,432 cases, taking the impoverished state's total to almost 19,000 with 134 deaths.

Published 14 Jul, 2020 06:15pm

Africa

Libya's pro-Haftar assembly backs Egypt intervention if needed

Egypt's President, alarmed by Haftar's setback, warned last month that Cairo could send troops into Libya.

Published 14 Jul, 2020 06:14pm

Middle East

Iran reports 179 new virus deaths

2,521 people have tested positive for the coronavirus in the past 24 hours, raising the total cases confirmed to 262,173.

Published 14 Jul, 2020 06:11pm

South Asia

Flash floods kill 15 in Indonesia, dozens missing

Hundreds of houses as well as government offices and public facilities were engulfed in three to five metres of mud.

Published 14 Jul, 2020 06:08pm

Exchange

US pushes Taliban to reduce violence as deal enters 'next phase'

Talks between the Taliban and Kabul hinge on a nearly-completed prisoner exchange agreed in the deal.

Published 14 Jul, 2020 06:05pm

Europe

Virus-hit UK economy slumps almost 20pc in lockdown

Britain has been one of the countries worst hit by the virus, with nearly 45,000 deaths from positive coronavirus cases.

Published 14 Jul, 2020 06:02pm

Business & Finance

JPMorgan Chase profits slide as it sets aside $8.9bn for bad loans

Revenues jumped 15 percent to $33.8 billion, its highest ever for a quarter.

Published 14 Jul, 2020 05:42pm

Sports

United did not deserve the points against Saints says Solskjaer

Red Devils stay fifth and face a real fight to qualify for the Champions League with a top-four finish.

Updated 14 Jul, 2020 05:52pm

South Asia

China to hit Lockheed Martin with sanctions over Taiwan deal

Taiwan's foreign ministry countered that it "strongly condemns" China's "irrational outbursts and crude threats" over the US announcement.

Published 14 Jul, 2020 05:37pm

Commodities

Palm hits four-month high on hopes of better July 1-15 exports

Export pace from Malaysia during July 1-15 is expected to improve with the market pegging a 9-10% monthly fall.
The contract climbed to an intraday high of 3.09% and touched its highest level since March 5.

Published 14 Jul, 2020 05:25pm

Companies

Aspen offers to cut cancer drug prices, may avoid EU antitrust fine

Aspen's price cuts will cover all of Europe except for Italy, which imposed a five million euro ($5.68 million) fine on the company in 2016 for price hikes of up to 1,500% for some drugs.
Aspen's proposal would lead to an immediate price cut in its net prices to below 2012 levels for most of the drugs.

Published 14 Jul, 2020 05:22pm

Technology

Google offers data pledge in bid to win EU okay for Fitbit buy

The bid, announced in November last year, would help Google take on market leader Apple and Samsung in the fitness-tracking and smart-watch market.
With just 3% of the global wearables market as of the first quarter of 2020, Fitbit is far behind Apple's 29.3% share and also trails Xiaomi, Samsung and Huawei.

Published 14 Jul, 2020 05:20pm

Technology

Britain bans China's Huawei, handing US big win

The new guidelines also require all existing Huawei gear to be stripped out by the end of 2026.

Published 14 Jul, 2020 05:20pm

Stocks

Indian shares slip as virus worries grow; lenders, auto stocks drag

The broader NSE Nifty 50 index closed down 1.81% at 10,607.35 and the benchmark S&P BSE Sensex ended 1.8% lower at 36,033.06.
Rating agency Moody's on Monday also warned of pandemic-related headwinds to the Indian banking sector.

Published 14 Jul, 2020 05:19pm

Commodities

Copper retreats from two-year peak as market eyes virus risks

Copper had soared about 50% from its 45-month lows touched in March to a two-year peak hit on Monday.
It's a long overdue reality check today that we've had in store for a couple of weeks now.

Published 14 Jul, 2020 05:15pm

Industry

Delta CEO says air travel 'at a stall' amid resurgent virus, recovery over 2 years away

We're at a stall right now," CEO Ed Bastian told Reuters, saying demand that built up over June for travel to places like Las Vegas, Florida or New York had suffered due to fresh cases and quarantines,
"We haven't gone backwards," he said. But "we're not growing," he added.

Published 14 Jul, 2020 05:13pm

Forex

Pound slips to two-week low vs euro on disappointing growth data

Gross domestic product rose by 1.8% in May after falling by a record 20.8% in April, the Office for National Statistics said.
The pound fell 0.33% to $1.2510 versus the dollar and traded 0.4% lower against the euro at 90.77 pence.

Published 14 Jul, 2020 05:11pm

Commodities

Corn, wheat soybeans up after US crop report misses forecasts

Chicago Board of Trade most-active corn was up 0.3% at $3.37-1/2 a bushel at 1056 GMT, having fallen more than 2% .
Soybeans were up 0.4% at $8.78-3/4 a bushel. Wheat rose 1.0% to $5.30 a bushel after also falling on Monday.

Published 14 Jul, 2020 05:09pm

Commodities

South Korea's MFG buys about 131,000 tonnes corn-trade

The first, of about 66,000 tonnes, was bought at about $188.99 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading, the traders said.
The seller was believed to be trading house Olam, with arrival in South Korea around Nov. 25.

Published 14 Jul, 2020 05:09pm

Commodities

TOCOM falls on growing US-China tensions, surging virus cases

TOCOM's rubber contract for December delivery finished 0.5 yen lower at 156.3 yen ($1.46) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 10 yuan to finish at 10,600 yuan ($1,511) per tonne.

Published 14 Jul, 2020 04:58pm

1151 new cases take Sindh's tally to 107773

Sindh's death toll has reached 1863.

Updated 14 Jul, 2020 04:58pm

Companies

Thailand's AIS says Huawei among five companies tendering to build 5G core networks

AIS, Thailand's largest mobile operator, is in the final stage of selecting vendors, which now include Ericsson, Nokia, Huawei, ZTE and Samsung.
"We are in the process of selecting vendors for the proper 5G core networks, both the Chinese and the Europeans," said Weng Cheong.

Published 14 Jul, 2020 04:55pm

Financial

Euro zone bond yields edge down as sentiment stabilises

Euro zone yields 1-2 bps lower across the board.
California rolls back reopening plans.
ZEW, industrial production releases due.
Italy to sell up to 10 bln euros of debt.

Published 14 Jul, 2020 04:54pm

Industry

JPMorgan sets aside $10.5bn for loan losses as profit top estimates

The bank's net income fell to $4.69 billion, or $1.38 per share, in the quarter ended June 30, but topped analysts' lowered estimates of $1.04 per share.
Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy.

Published 14 Jul, 2020 04:52pm

Stocks

Lockdown in global tech hub hits stocks

European tech stocks follow US peers lower.
Markets brace for US earnings season.
Oil, gold slip lower.

Published 14 Jul, 2020 04:41pm

Business & Finance

Iran drops India from Chabahar rail project

The entire project would be completed by March 2022 without India’s assistance, at a cost of $400 million which will be financed by the Iranian National Development Fund.

Updated 14 Jul, 2020 03:51pm

World

US-Taliban deal entering second phase: Zalmay urges Taliban to reduce violence

He said US will press for completion of prisoner releases, reduction of violence and progress in intra-Afghan negotiations.

Published 14 Jul, 2020 02:55pm

Sports

Real Madrid one win away from clinching La Liga

League leaders will be crowned champions if they beat Villarreal at home on Thursday.

Published 14 Jul, 2020 01:52pm

Sports

Spurs more tactical under Mourinho: Davies

Tottenham, who are eighth in the league, visit Newcastle United on Wednesday.

Updated 14 Jul, 2020 01:52pm

World

Russia confirms more than 6,200 new coronavirus cases

175 people also died in the last 24 hours.

Published 14 Jul, 2020 01:37pm

Sports

Jos Buttler has two Test matches to save his career: Darren Gough

England wicketkeeper-batsman has not scored a fifty in his last 12 Test innings.

Published 14 Jul, 2020 01:26pm

Companies

Technical glitch at Bin Qasim power plant leads to 130 MW shortfall

The power utility is facing a 130 MW reduction in power generation capacity, which will lead to temporary load management in low-loss areas.

Published 14 Jul, 2020 11:51am

SC sets aside SHC's order, allows govt to take action against sugar mills

Islamabad High Court and SHC have been given three weeks time by the SC to announce verdicts regarding the report.

Updated 14 Jul, 2020 11:36am

Stocks

Asian shares retreat as virus and Sino-U.S. tensions flare

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2%. Japan’s Nikkei retreated from a one-month high touched on Monday, dropping 0.9%, while Chinese stocks were down despite better-than-expected trade numbers.

Published 14 Jul, 2020 11:33am

Technology

U.K. ban looms over Huawei as revenue growth lags amid U.S. pressure

The world’s biggest telecoms equipment vendor and No.2 smartphone maker said revenue rose a relatively modest 13.1% in the first half of the year, after more than a year of pressure from the U.S. and months of disruptions from the coronavirus pandemic.

Published 14 Jul, 2020 11:29am

Forex

Dollar slightly higher as geopolitics and virus unsettle the mood

The euro held onto gains against the greenback and the pound as investors await data on German investor sentiment to help gauge the pace of Europe’s recovery from the health crisis.

Published 14 Jul, 2020 11:24am

Commodities

Oil prices drop on demand recovery fears, OPEC+ easing expectations

U.S. West Texas Intermediate (WTI) crude futures slid 96 cents, or 2.39%, to $39.14 a barrel by 0443 GMT, while Brent crude futures fell 88 cents, or 2.06% to $41.84.

Published 14 Jul, 2020 11:21am

Business & Finance

Pakistan racing towards manufacturing its own agricultural drones

An MoU was signed for this purpose, between the Ministry of Science and Technology and ABN SATUMA (Private) Ltd for the development of UAVs/drones for agriculture application. The drones will specifically be used for countering locust attacks, which has caused havoc across the country.

Published 14 Jul, 2020 11:15am

WHO sounds alarm as coronavirus cases rise by one million in five days

WHO Chief Tedros Adhanom Ghebreyesus said there would be no return to the “old normal” for the foreseeable future, especially if preventive measures were neglected.

Published 14 Jul, 2020 10:17am

BR Research

HIES: Urban-rural income distribution (and errors)

The latest version of Pakistan Bureau of Statistics’ (PBS) flagship publication, Household Integrated Economic...

Published 14 Jul, 2020 08:48am

BR Research

On World Population Day

In 2006, Dr. Durre Nayab’s pioneering work on Pakistan’s demographic dividend made that once-obscure expression...

Published 14 Jul, 2020 08:47am

Cotton

Sugar exports: déjà vu?

Less than four months into the release of “bombshell” Sugar Inquiry Report that lambasted country's export ...

Published 14 Jul, 2020 08:47am

Exchange

The E in EV

As the sprawling city of Karachi is doused in unexplained power outages, the federal government is all ready to put...

Published 14 Jul, 2020 08:46am

BR Research

Ibrahim Fibres Limited

Ibrahim Fibres Limited (PSX: IBFL) was established as a public limited company. It is in the business of...

Published 14 Jul, 2020 08:46am

Stocks

European stocks gain

MILAN: European shares rose on Monday as progress on a possible Covid-19 vaccine, some upbeat earnings reports and...

Updated 14 Jul, 2020 03:50am

Stocks

Nikkei rises to one-month high

TOKYO: Japan's Nikkei share average rose to a one-month closing high on Monday, tracking a rally on Wall Street as a...

Updated 14 Jul, 2020 03:50am

Stocks

Dubai leads ME markets retreat, blue-chips hurt Egypt

DUBAI: Major Middle Eastern stock markets ended lower on Monday, with Dubai leading the losses as most of its...

Updated 14 Jul, 2020 03:50am

Energy

Roohi Raees Khan elected SNGPL BoD chairperson

KARACHI: The Board of Directors of SNGPL elected Roohi Raees Khan as Chairperson, Sui Northern Gas Board of ...

Updated 14 Jul, 2020 03:50am

Energy

Oil prices little changed

NEW YORK: Oil prices were little changed on Monday as the market waits for direction from an OPEC meeting later this...

Updated 14 Jul, 2020 03:50am

Energy

US shale oil output to drop 2-year low

NEW YORK: US crude oil output from seven major shale formations is expected to decline by about 56,000 barrels per...

Updated 14 Jul, 2020 03:50am

Commodities

Ivory Coast cocoa farmers bullish on growing conditions

ABIDJAN: Most of Ivory Coast's cocoa growing regions received below-average rainfall last week but good soil ...

Updated 14 Jul, 2020 03:50am

Commodities

Tokyo rubber tracks Shanghai gains

TOKYO: Tokyo Commodity Exchange (TOCOM) rubber futures rose on Monday, tracking gains in Shanghai futures and a...

Updated 14 Jul, 2020 03:50am

Commodities

Malaysian palm oil falls

KUALA LUMPUR: Malaysian palm oil futures fell on Monday, tracking losses in crude and rival soyaoil, while and as...

Updated 14 Jul, 2020 03:50am

Business & Finance

Secy Commerce briefed about initiatives during TDAP's visit

KARACHI: Secretary Ministry of Commerce, Muhammad Sualeh Ahmed Faruqui, visited the Trade Development Authority of...

Updated 14 Jul, 2020 03:43am

Exchange

Australian, NZ shares up

SYDNEY: Australian and New Zealand shares finished higher on Monday, as risk appetite was buoyant on encouraging...

Updated 14 Jul, 2020 03:42am

Industry

Ch Zaka elected PSMA Punjab chairman

ISLAMABAD: Pakistan Sugar Mills Association (PSMA) Punjab Chapter has elected Chaudhary Zaka Ashraf as new chairman...

Updated 14 Jul, 2020 03:40am

Currency

Nigerian banks to stop processing import documents for maize

LAGOS: Nigeria's central bank told lenders on Monday to stop processing new trade documents for maize imports with...

Updated 14 Jul, 2020 03:40am

Industry

Iftikhar Malik hails PM's package for construction industry

LAHORE: Prime Minister Imran Khan's massive package for the construction industry is a ray of hope at the time when...

Updated 14 Jul, 2020 03:40am

Industry

PSMA Punjab EC takes responsibility

LAHORE: The Pakistan Sugar Mills Association Punjab Zone held a meeting in which its new executive committee took...

Updated 14 Jul, 2020 03:40am

South Asia

Mandela's daughter Zindzi dies at 59

JOHANNESBURG: Zindzi Mandela, the youngest daughter of South Africa's first black president and anti-apartheid icon...

Updated 14 Jul, 2020 03:36am

Business & Finance

Sudan hands out cash to ease economic crunch

KHARTOUM: Sudan has begun distributing cash handouts under an internationally backed plan to help millions cope with...

Updated 14 Jul, 2020 03:36am

USA

Major fire breaks out on US Navy ship in California

LOS ANGELES: An explosion on a United States Navy ship moored at a base in California set off a major fire on Sunday...

Updated 14 Jul, 2020 03:34am

Pakistan

Virus-hit Hajj cuts deep for pilgrims and businesses

KARACHI: Holy Quran tutor Muhammad Asim should have been packing to leave his Karachi home for Makkah next week to...

Updated 14 Jul, 2020 03:33am

Pakistan

NAB to submit reply of Ranjha's plea by 27th

LAHORE: The Lahore High Court bench also allowed the NAB to submit reply by July 27 in response to a petition of...

Updated 14 Jul, 2020 03:32am

USA

US judge delays first federal execution in 17 years

WASHINGTON: A US judge ordered a delay on Monday of the first federal execution in the United States in 17 years -...

Updated 14 Jul, 2020 03:31am

Africa

Ivory Coast vice president quits

ABIDJAN: The difficult waters of Ivory Coast politics became even more turbulent on Monday as Vice President Daniel...

Updated 14 Jul, 2020 03:31am

Pakistan

Punjab Assembly sessaion: SOPs should be ensured: Elahi

LAHORE: Punjab Assembly Speaker Chaudhary Parvez Elahi has said that special care should be ensured during the 23rd...

Updated 14 Jul, 2020 03:30am

Pakistan

Around 79pc Covid-19 patients recovered in capital

ISLAMABAD: Around 79 percent coronavirus patients have completely recovered of the total 14,108 confirmed cases in...

Updated 14 Jul, 2020 03:30am

Pakistan

Hike in POL products' prices: JI leader moves intra-court appeal against single bench's verdict

ISLAMABAD: Jamaat-e-Islami leader and former member of the National Assembly, Mian Muhammad Aslam has moved an...

Updated 14 Jul, 2020 03:29am

World

Taliban car bomb attack on Afghan intel office kills 11

MAZAR-I-SHARIF: At least 11 security personnel were killed Monday in an attack claimed by the Taliban on a rural...

Updated 14 Jul, 2020 03:29am

World

Indian royal dynasty keep control of one of world's richest temples

THIRUVANANTHAPURAM: India's Supreme Court on Monday upheld the right of a former royal dynasty to run the Sri...

Updated 14 Jul, 2020 03:29am

World

Hunger worsening as coronavirus weighs and obesity rises: UN

ROME: Nearly one in nine people in the world are going hungry, with the coronavirus pandemic exacerbating already...

Updated 14 Jul, 2020 03:29am

Pakistan

Tickets purchased by fake accounts for Bilawal, Ayyan, claims minister

ISLAMABAD: Minister for Communications and Postal Services Murad Saeed on Monday said that the fake accounts had ...

Updated 14 Jul, 2020 03:29am

Pakistan

NAB sought reply in Cheena's petition by 28th

LAHORE: The Lahore High Court on Monday sought a reply from the National Accountability Bureau (NAB) by July 28 in...

Updated 14 Jul, 2020 03:28am

Pakistan

Pandemonium prevails in NA

ISLAMABAD: Uproar and raising of slogans by treasury and opposition members against each other were observed on...

Updated 14 Jul, 2020 03:28am

Technology

Apple supplier Foxconn to invest $1 billion in India

NEW DELHI: Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese...

Updated 14 Jul, 2020 03:27am

Technology

Google to invest $10 billion in India

NEW DELHI: Google said Monday it will invest $10 billion in India over the next five to seven years as it battles...

Updated 14 Jul, 2020 03:26am

Zardari accused of purchasing Clifton house thru 'corruption' money

ISLAMABAD: The National Accountability Bureau (NAB) has told the Accountability Court hearing fake accounts case ...

Updated 14 Jul, 2020 03:26am

Gazprom Neft sends its first oil cargo to China via Arctic route

MOSCOW: Russia's Gazprom Neft, the oil arm of gas giant Gazprom, has shipped its first cargo with Arctic oil to ...

Updated 14 Jul, 2020 03:26am

Month-wise actual RLNG volumes: Ogra empowered to allow recovery of revenue shortfall

ISLAMABAD: The government has empowered Ogra to provisionally allow the recovery of RLNG revenue shortfall...

Updated 14 Jul, 2020 03:26am

US regulators downgrade Pakistan's air safety rating

WASHINGTON: The US Federal Aviation Administration (FAA) has downgraded Pakistan's air safety rating after the ...

Updated 14 Jul, 2020 03:26am

Remittances hit historic high of $23.121bn

KARACHI: Pakistan has received all-time high over $23 billion home remittances inflows during the last fiscal year...

Updated 14 Jul, 2020 03:26am

Exchange

Growth in MENAP region may be two percentage points in 2020: IMF

ISLAMABAD: The GPD growth in Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region in 2020 is expected...

Updated 14 Jul, 2020 03:26am

Technology

Huawei reports 13.1 percent sales rise in first half

PARIS: Chinese telecom giant Huawei on Monday reported a first-half revenue rise of 13.1 percent year-on-year as it...

Updated 14 Jul, 2020 03:26am

World

Trudeau 'sorry' over controversial charity contract

OTTAWA: Canada's Prime Minister Justin Trudeau apologized Monday for not recusing himself from discussions about a...

Updated 14 Jul, 2020 03:24am

World

WHO says countries taking 'wrong direction' on virus

GENEVA: The World Health Organization warned Monday that too many countries were bungling their response to the...

Updated 14 Jul, 2020 03:24am

Afghan exports thru Wagha border allowed

ISLAMABAD: Pakistan on Monday announced reopening of Wagha border crossing from Wednesday (July 15) to allow the...

Updated 14 Jul, 2020 03:24am

Pakistan

CMs acting like dictator under 18th Amendment: Kamal

KARACHI: Pak Sarzameen Party (PSP) chairman Syed Mustafa Kamal has said the chief ministers of the provinces are...

Updated 14 Jul, 2020 03:23am

Pakistan

Bilawal questions claim of slowing virus cases by PTI govt

KARACHI: PPP Chairman Bilawal Bhutto-Zardari on Monday accused the PTI government of putting the lives of people in...

Updated 14 Jul, 2020 03:23am

Pakistan

'Sindh has more testing capacity than other provinces'

KARACHI: Spokesperson of Sindh government and Advisor for Law, Environment & Coastal Development Barrister...

Updated 14 Jul, 2020 03:22am

'Stay' relief to sugar mills: AGP submits 'synopsis' against SHC verdict

ISLAMABAD: The requirement of publication of notification in official gazette is to be treated as "directory" unless...

Updated 14 Jul, 2020 03:22am

Exchange

Detailed IHC judgement announced

ISLAMABAD: The Islamabad High Court (IHC) has ruled that there is nothing in the inquiry commission report that ...

Updated 14 Jul, 2020 03:22am

NTDC's 'controversial' plan: Nepra all set to hold hearing tomorrow

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) is all set to hold a hearing on Wednesday (tomorrow)...

Updated 14 Jul, 2020 03:22am

Kashmir Martyrs' Day observed: Pakistan reaffirms solidarity with Kashmiris

ISLAMABAD: Pakistan on Monday reaffirmed full solidarity with Kashmiris on both sides of the Line of Control (LoC) ...

Updated 14 Jul, 2020 03:22am

Cabinet may discuss Karachi power outages, Uzair 'JITs' today

ISLAMABAD: The Cabinet, which is scheduled to meet on Tuesday (July 14), is likely to discuss power outages in...

Updated 14 Jul, 2020 03:22am

MoF for discouraging supplementary grants

ISLAMABAD: The Finance Ministry has reviewed the procedure pertaining to supplementary grants, and conveyed to the...

Updated 14 Jul, 2020 03:22am

Pakistan

Covid-19: Sindh finds 1,089 new cases out of 8,929 tests: CM

KARACHI: Covid-19 has claimed 31 more lives lifting the death toll to 1,826 while found 1,089 new cases out of 8,929...

Updated 14 Jul, 2020 03:22am

Pakistan

Waseem orders completion of pending uplift projects

KARACHI: Mayor Karachi Wasim Akhtar on Monday directed officials concerned to expedite work on the pending uplift...

Updated 14 Jul, 2020 03:22am

Pakistan

Covid-19 cases reach 252,735 with 5,297 deaths: NCOC

ISLAMABAD: At the national level coronavirus cases have reached 252,735 with 5,297 deaths and 161,917 recoveries,...

Updated 14 Jul, 2020 03:21am

Cotton

Treasury, opposition benches assail govt over 'neglecting' agri sector

ISLAMABAD: Lawmakers from both treasury and opposition in the National Assembly Monday assailed the government for...

Updated 14 Jul, 2020 03:21am

Pakistan

Restoration of Hafiz Saeed, aides bank accounts: FO terms reports incorrect and misleading

ISLAMABAD: The Foreign Office on Monday rejected the reports as "factually incorrect and misleading" in which it was...

Updated 14 Jul, 2020 03:20am

Pakistan

Serious injuries to six civilians: Indian diplomat summoned over ceasefire violations

ISLAMABAD: Pakistan summoned a senior Indian diplomat on Monday and registered with him a strong protest over...

Updated 14 Jul, 2020 03:20am

Pakistan

President pays homage to 22 Kashmiri martyrs

ISLAMABAD: President Dr Arif Alvi on Monday paid tribute to 22 Kashmiris who had laid down their lives during a...

Updated 14 Jul, 2020 03:19am

Pakistan

Senate passes Dyslexia Special Measures Bill

ISLAMABAD: Senate on Monday passed the Dyslexia Special Measures Bill, 2020, a private member bill, while eight new...

Updated 14 Jul, 2020 03:19am

Pakistan

The Weather

KARACHI: The weather report on Monday (July 13, 2020) and the forecast for Tuesday (July 14, 2020)....

Updated 14 Jul, 2020 03:18am

Life & Style

Actress Kelly Preston dies

LOS ANGELES: American actress Kelly Preston, who featured in hit films "Jerry Maguire" and "Twins", has died from...