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Archive - 2020-07-27
Pakistan could import 300,000 tonnes sugar to ease price rise-trade

Pakistan could import 300,000 tonnes sugar to ease price rise-trade

  • "In the July 22 meeting of the sugar advisory board, I recommended to the government to import at least 300,000 tonnes of sugar for open market intervention to control the price hike,"
  • Prime Minister Imran Khan on Monday told authorities to plan for sugar imports.
Published 27 Jul, 2020 11:24pm
Moderna COVID-19 vaccine could be ready for use by end of year, US says
Companies

Moderna COVID-19 vaccine could be ready for use by end of year, US says

  • Moderna has received nearly $1 billion from the US government, which is helping to bankroll several vaccine candidates under its Operation Warp Speed program.
  • "Having a safe and effective vaccine distributed by the end of 2020 is a stretch goal, but it's the right goal for the American people."
Published 27 Jul, 2020 11:20pm
South Africa's rand rallies on dollar selling
Forex

South Africa's rand rallies on dollar selling

  • The rand had suffered a selloff after the local central bank cut rates on Thursday while leaving the door open for further cuts.
  • Government bonds also firmed, with the yield on the benchmark instrument due in 2030 was down 9.5 basis points to 9.155%.
Published 27 Jul, 2020 11:17pm
Goldman revamps employee reviews, opening door to greater job cuts
Money & Banking

Goldman revamps employee reviews, opening door to greater job cuts

  • The bank's main goal is to let staff know where they stand as roughly 90% of the bank's workforce works from home due to COVID-19 restrictions.
  • Goldman Sachs' review changes are another sign that COVID-19 working restrictions are prompting some large corporations to overhaul their human resources policies.
Published 27 Jul, 2020 10:55pm
UN announces start of Libya central bank audit
World

UN announces start of Libya central bank audit

  • The United Nations has finalised a contract with international accounting firm Deloitte to handle the audit for it to start "as soon as possible."
  • Revenue from Libyan oil exports has flowed through the Tripoli-based CBL, which has paid the salaries of many state employees across front lines.
Published 27 Jul, 2020 10:49pm
Mexico's GDP expected to contract 17.7pc in second quarter
USA

Mexico's GDP expected to contract 17.7pc in second quarter

  • If the economy shrinks as projected, it would mark the steepest drop in Mexico's GDP since at least early 1993.
  • In April and May, much of the country's economic activity was suspended due to measures imposed by the government to confront the pandemic.
Published 27 Jul, 2020 10:32pm
EU wheat dips in tandem with Chicago and euro surge
Commodities

EU wheat dips in tandem with Chicago and euro surge

  • Front-month September milling wheat on Paris-based Euronext, closed down 1.8% at an intraday low of 182.50 euros a tonne.
  • By the same time most traded wheat futures contract on the Chicago Board of Trade (CBOT) was down 2% at $5.28-3/4 a bushel.
Published 27 Jul, 2020 10:20pm
LCCI opposes businesses closure, suggests safety steps
Pakistan

LCCI opposes businesses closure, suggests safety steps

  • They said that the business community had already paid a heavy price for the COVID-19 pandemic during the prolonged lockdown.
  • Despite the biggest financial losses, businesspeople cooperated with departments concerned to curb coronavirus.
Published 27 Jul, 2020 06:39pm
IHC disposes of case seeking opening of schools
Pakistan

IHC disposes of case seeking opening of schools

  • The petitioner's lawyer pleaded that the educational institutions were closed in federal capital for several months due to COVID-19 while the school owners were facing hardships. ( He observed that it was impossible that the government was not taking attention towards it.
  • He observed that it was impossible that the government was not taking attention towards it.
Published 27 Jul, 2020 06:39pm
Governor Punjab meets Omar Ayub
Pakistan

Governor Punjab meets Omar Ayub

  • Speaking on the occasion, the Governor Punjab said that the provincial government was fully cooperating drive against power pilferage and defaulters in the province.
Published 27 Jul, 2020 06:38pm
Imported wheat to be exempted from anti-hoarding act
Pakistan

Imported wheat to be exempted from anti-hoarding act

  • He said the private wheat importers would be given priority in order to keep local demand and supply smooth and providing it on affordable prices.
  • The ministry was facilitating wheat importers by helping them in priority berthing, storage, multiple ports and clearances on the landing of shipment.
Published 27 Jul, 2020 06:36pm
IRSA releases 295,400 cusecs water
Pakistan

IRSA releases 295,400 cusecs water

  • The water level in the Jhelum River at Mangla Dam was 1228.80 feet, which was 188.80 feet higher than its dead level of 1040 feet whereas the inflow and outflow of water was recorded as 31,300 cusecs and 35,000 cusecs respectively.
Published 27 Jul, 2020 06:35pm
Reform Time
BR Research

Reform Time

There are signs of economic recovery; and it seems that the Covid curve is flattening (for the time being, at ...
Published 27 Jul, 2020 09:23am
HBL profits quadruple
BR Research

HBL profits quadruple

HBL paid more in taxes in 1HCY20 than it made in pretax profits in the same period last year. The pre-tax profits...
Published 27 Jul, 2020 09:22am
Honda: Murky clouds ahead
BR Research

Honda: Murky clouds ahead

During the first quarter of the year for Honda Atlas Cars (PSX: HCAR), the company has made a loss of over Rs500...
Published 27 Jul, 2020 09:21am
Resolution submitted
Pakistan

Resolution submitted

LAHORE: A resolution was submitted in the Punjab Assembly demanding setting of minimum age of 18 years for marriage...
Updated 27 Jul, 2020 03:15am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Sunday (July 26, 2020) and the forecast for Monday (July 27, 2020)....
Published 27 Jul, 2020 02:50am
President condoles
Pakistan

President condoles

ISLAMABAD: President Dr Arif Alvi Sunday expressed his condolence with Interior Minister Brig Ijaz Ahmad Shah (retd)...
Published 27 Jul, 2020 02:50am
Australia suffers deadliest day
World

Australia suffers deadliest day

MELBOURNE: Australia has suffered its deadliest day from the coronavirus since the pandemic began, with authorities...
Published 27 Jul, 2020 02:50am
The essence of sacrifice
Opinion

The essence of sacrifice

ARTICLE: This Eid is special. Its timing is important. A lot is being said about be careful and wise. Everybody is...
Published 27 Jul, 2020 02:50am
A big relief
Letters

A big relief

LETTER: State Bank of Pakistan (SBP) deserves commendation for allowing disbursement of salaries under the Rozgar...
Published 27 Jul, 2020 02:50am
Your rupee last week
Currency

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last week. (July 20 to 24,...
Published 27 Jul, 2020 02:50am
Your rupee last half year
Currency

Your rupee last half year

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last half year. (January 2...
Published 27 Jul, 2020 02:50am
Power tariff increase
Editorials

Power tariff increase

EDITORIAL: National Electric Power Regulatory Authority (Nepra) approved a raise in electricity tariffs for five...
Published 27 Jul, 2020 02:50am
'Most improved country'
Editorials

'Most improved country'

EDITORIAL: It comes as something of a breath of fresh air that US non-proliferation watchdog Nuclear Threat...
Published 27 Jul, 2020 02:50am
Afghan Sikhs, Hindus arrive in India

Afghan Sikhs, Hindus arrive in India

NEW DELHI: Sikh and Hindu Afghans, most reportedly family members of people killed in an attack on a Kabul temple...
Published 27 Jul, 2020 02:50am
Indian quadcopter shot down

Indian quadcopter shot down

RAWALPINDI: Pakistan Army troops shot down an Indian spying quadcopter in Pandu Sector along Line of control (LOC)....
Published 27 Jul, 2020 02:50am
Positive trend prevails
Exchange

Positive trend prevails

KARACHI: Pakistan Stock Exchange saw the fifth consecutive week on positive note on the back of local investors and...
Published 27 Jul, 2020 02:50am
Futures spread down by 390bps
Stocks

Futures spread down by 390bps

KARACHI: The futures spread declined by 390bps to 4.17 percent on the last day of the outgoing week. Trading...
Published 27 Jul, 2020 02:50am