News Archives for Latest - 2020-07-28

Commodities

Cotton gains on crop damage worries due to Hurricane Hanna

Prices have gained for a second straight session, despite the United States Department of Agriculture's weekly crop progress report on Monday showing 49%.
It's coming to the realization that one report does not make a season, so there's still some damage to the Corpus Christi crop because of Hurricane Hanna.

Published 28 Jul, 2020 11:59pm

Stocks

Shares in Brazil's AES Tiete slump as BNDES reaches deals with AES Corp

AES Corp offered to buy 65% of BNDES' stake in AES Tiete for 17.15 reais ($3.33) per share in cash.
Units in AES Tiete, comprising one common share and four preferred shares, tanked as the power company's shareholders were left with no proposed deal.

Published 28 Jul, 2020 11:57pm

World

Twitter temporarily restricts Donald Trump Jr.'s account over COVID-19 video

The eldest son of US President Donald Trump had posted a now-deleted tweet on Monday, with a video of doctors talking about the drug hydroxychloroquine.
The video was also taken down by Facebook Inc and Alphabet Inc-owned YouTube after racking up millions of views, for breaking their rules on COVID-19 misinformation.

Published 28 Jul, 2020 11:55pm

Commodities

Record rally for gold stalls ahead of US Fed meeting

Gold pulls back from record high of $1,980.57/oz.
Goldman Sachs raises 12-month gold price forecast to $2,300.
Silver retreats after hitting over 7-year high of $26.19/oz.
Dollar edges higher from 2-year low.

Published 28 Jul, 2020 11:54pm

Money & Banking

Intesa eyes integration, growth after UBI bid succeeds

With two days to run before the deadline for a cash-and-shares bid valuing UBI at some 4.1 billion euros ($4.8 billion).
Intesa has committed to selling 532 branches of the combined group, including 31 of its own branches.

Published 28 Jul, 2020 11:52pm

Financial

Yields lower as investors await Washington relief deal

The benchmark 10-year yield was down 2.7 basis points at 0.5823% in afternoon trading, after reaching as high as 0.637% in the session.
Yields declined as traders shifted back into safe-haven securities and away from riskier bets on stocks.

Published 28 Jul, 2020 11:50pm

World

Senate Republicans push back on McConnell's $1 trillion US coronavirus relief proposal

Democrats have also rejected the package, calling it too small compared with their $3 trillion plan that passed the House of Representatives.
McConnell touted the proposal as a "tailored and targeted" plan to reopen schools and businesses, while protecting companies from lawsuits.

Published 28 Jul, 2020 11:47pm

Money & Banking

RBC cuts ties with Canada's WE Charity following review

WE Charity disclosed earlier in July that from 2016-2020 it paid honoraria to Trudeau's mother, Margaret, amounting to C$250,000 for speaking at some 28 events
Trudeau and his wife, Sophie Gregoire Trudeau, have also regularly participated in the charity's events.

Published 28 Jul, 2020 11:43pm

USA

US CDC reports 4,280,135 coronavirus cases

The CDC reported its tally of cases of the respiratory illness known as COVID-19
The CDC figures do not necessarily reflect cases reported by individual states.

Published 28 Jul, 2020 11:38pm

Pakistan

NEPRA takes notice of electrocution cases in Karachi

The regulator created email address to receive evidence from general public and affected persons to ascertain the real causes behind these incidents besides fixing responsibility.

Published 28 Jul, 2020 09:21pm

Pakistan

Opposition's proposals to change accountability law not acceptable: Qureshi

He said Prime Minister Imran Khan would not compromise on his party's main plank of fight against corruption.

Published 28 Jul, 2020 09:17pm

Pakistan

COVID-19 claims 10 more lives, 574 more tested positive in Sindh: CM

The chief minister said the current deduction rate was six percent adding so far 728,119 samples were tested constituting overall 16 percent detection rate.

Published 28 Jul, 2020 09:15pm

Pakistan

SBP to remain closed for three days

The central bank will remain closed for the said period on account of Eid-ul-Azha holidays, according to an announcement on Tuesday.

Published 28 Jul, 2020 09:14pm

PM favours Article 140A’s full implementation to resolve Karachi’s civic issues

The Article 140A of the Constitution states: “Each Province shall, by law, establish a local government system and devolve political, administrative and financial responsibility.

Published 28 Jul, 2020 09:12pm

Pakistan

Usman terms transparency, merit as cornerstones of Kamyab Jawan loan programme

Usman Dar was accompanied by Khyber Pakhtunkhwa (KP) Minister for Finance, Tamir Saleem Jhagra and Special Assistant to the Chief Minister KP on Industry, Abdul Karim Khan.

Published 28 Jul, 2020 09:09pm

Pakistan

President stresses on active role of welfare bodies, philanthropists in helping poor amid pandemic

The president reviewed the arrangements made for the homeless and needy at the shelter home and interacted with the people.

Published 28 Jul, 2020 09:08pm

Pakistan

CM reviews Eid related arrangements

Chief Minister directed to ensure foolproof security arrangements for protecting the life and property of the people.

Published 28 Jul, 2020 09:06pm

Pakistan

Tiger Force given target of tree plantation as Green Ambassadors: Zartaj Gul

She said that the government's achievements were acknowledged by the international media including the Business Recorder by publishing special features in this regards.

Published 28 Jul, 2020 09:04pm

Pakistan

Cleaning of nullahs not a permanent solution: Mayor

He said that only Rs. 500 million was issued to KMC for the drains' cleaning in last four years and details of its expenditures were already given to Sindh government.

Published 28 Jul, 2020 08:52pm

Business & Finance

McDonald's global sales suffer as COVID-19 lockdowns limit operations

Global same-store sales fell 23.9pc in the second quarter, dragged down by big international markets including the United Kingdom, France and Latin America.

Published 28 Jul, 2020 08:47pm

Business & Finance

Pfizer raises 2020 profit forecast on projected recovery in drug sales

Pfizer's shares rose nearly 2% to $38.26 in morning trading after the company also beat second-quarter earnings estimates.

Published 28 Jul, 2020 08:44pm

Forex

Canadian dollar retreats from 7-week high as oil prices fall

Gold notched a record high before the sheer scale of its gains drew a burst of profit-taking, which in turn helped the U.S. dollar from two-year lows.

Published 28 Jul, 2020 08:41pm

Stocks

TSX opens lower on weaker oil prices

At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 24.39 points, or 0.15pc, at 16,136.94.

Published 28 Jul, 2020 08:39pm

Stocks

Wall St opens lower on tough stimulus talks, mixed earnings

The Dow Jones Industrial Average fell 55.32 points, or 0.21pc, at the open to 26,529.45.

Published 28 Jul, 2020 08:32pm

Business & Finance

Saudi Arabia posts $29bn deficit in Q2 as oil revenues slump

The world's largest oil exporter saw oil revenues decline by 45pc year-on-year in the second quarter to $25.5 billion while total revenues dropped 49pc to nearly $36 billion.

Published 28 Jul, 2020 08:30pm

Forex

Dollar bounces from two-year lows, further weakness seen likely

The dollar index against a basket of currencies rebounded by 0.18pc to 93.71, after dropping to 93.47 on Monday, the lowest since June 2018.

Published 28 Jul, 2020 08:29pm

Commodities

Raw sugar turns lower after rally, coffee consolidates

October raw sugar fell 0.14 cents, or 1.2pc, to 11.98 cents per pound? by 1355 GMT after peaking at 12.27 cents, the highest level for the front month since July 8.

Published 28 Jul, 2020 08:27pm

Forex

Sterling holds near four-month highs as Brexit talks weigh

The European Union says a deal needs to be done by October to allow time for ratification by the end of the year.

Published 28 Jul, 2020 08:23pm

Commodities

EU wheat crop shows mixed results as harvest progresses

The harvest was in full swing this week thanks to dry weather conditions, showing better-than-expected results in the northern grain baskets.

Published 28 Jul, 2020 08:16pm

Cotton

Rs5,369.53mn transferred to provinces under agriculture emergency program during 2019-20

He informed that total worth of these projects were estimated at Rs. 277.336 billion with federal share of Rs. 81.76 billion that would be spent during 5 years.

Published 28 Jul, 2020 08:12pm

Exchange

Rupee extends gains against dollar

The State Bank of Pakistan reported that in interbank, the price of euro depreciated by 38 paisas to close at Rs. 195.01 against the last day’s trading of Rs. 195.39.

Published 28 Jul, 2020 08:07pm

Stocks

Wall Street retreats as Congress spars over stimulus

That sets the stage for a showdown with Democrats who are pushing their $3 trillion plan.

Published 28 Jul, 2020 08:07pm

Exchange

SECP takes new measures to strengthen, stable Pakistan’s capital markets

The timely measures by SECP resulted in most remarkable turnarounds by a stock exchange, according to sources in SECP.

Published 28 Jul, 2020 08:03pm

Africa

Three returned migrants shot dead on Libya coast: UN agency

"There is a need for increased search and rescue capacity on the Mediterranean, including NGO vessels, in order to increase the likelihood of rescue operations leading to disembarkations in safe ports outside of Libya."

Published 28 Jul, 2020 08:06pm

Business & Finance

Global air traffic won't return to pre-crisis level before 2024: IATA

Because of rising COVID numbers in some countries, the reopening of international borders would take longer than previously forecast, he said.

Published 28 Jul, 2020 08:03pm

Sports

England down West Indies in third Test, claim series 2-1

West Indies were bowled out for 129 runs in between several rain delays in Manchester.

Published 28 Jul, 2020 08:01pm

Pakistan

Gold price decrease Rs1300 to Rs122,500 per tola

The price of per tola silver remained stable at Rs. 1500 whereas that of 10 gram silver also witnessed no change in price and was traded at Rs. 1286.

Published 28 Jul, 2020 08:01pm

Asia

Taliban declare three-day ceasefire during Eid

The offer came soon after President Ashraf Ghani said peace talks with the Taliban could begin "in a week's time".

Published 28 Jul, 2020 08:00pm

Pakistan

Manshehra-Thakot Expressway opens for traffic: Asim Bajwa

"The 80 KMs two way Mansehra-Thakot Expressway has been opened for traffic," he said in a tweet. Highway police and toll staff had also been deployed at the road, he added.

Published 28 Jul, 2020 07:58pm

World

Twitter removes virus 'misinformation' video posted by Trump

The doctors also backed the use of hydroxychloroquine, an antimalarial drug that has not been proved effective against COVID-19.

Published 28 Jul, 2020 07:58pm

Pakistan

150,000 new hepatitis cases reported each year in Pakistan: WHO

According to WHO, Pakistan is facing numerous challenges in hepatitis response as approximately 150,000 new cases are reported each year in the country.

Published 28 Jul, 2020 07:55pm

Pakistan

BASF, Agriculture University of Multan join forces in research and talent development in Pakistan

Under this agreement, BASF and MNS-UAM will work on product testing as well as research and development.

Published 28 Jul, 2020 07:55pm

CM Sindh orders monitoring of rain-affected areas of city by elected representatives

Syed Murad Ali Shah said that only cleaning of nullahs was not enough but a detailed plan must be prepared through a proper and professional survey.

Published 28 Jul, 2020 07:53pm

Exchange

Efforts afoot to reduce educational gaps, promote inclusion of using technology: Shafqat

The event called on all stakeholders to concentrate on those being left behind and move towards inclusion in education, particularly after COVID-19.

Published 28 Jul, 2020 07:49pm

Cattle markets to remain opened from 7 a.m. to 11 p.m. in Sindh

It is further clarified that these timings are only for the cattle markets and not for any other business.

Published 28 Jul, 2020 07:47pm

Exchange

Facilitation of youth towards getting education must for utilization of their talent: PM

He was presiding over a high level meeting held here about ensuring enhanced and improved coverage of internet in the country.

Published 28 Jul, 2020 07:45pm

Govt to ensure provision of essential health services across country: Mirza

Mirza said everyone in Pakistan had a role to play to protect themselves and their loved ones from the virus.

Published 28 Jul, 2020 07:43pm

Pakistan

NA speaker refers eight private members' bills to concerned committees for deliberation

The bills referred to committees included the Limitation (Amendment) Bill, the Constitution (Amendment) Bill, 2020 (Amendment in Article 25A), the Legal Practitioners and Bar Councils (Amendment) Bill, 2020.

Published 28 Jul, 2020 07:42pm

Pakistan

Implementation of smart lockdown, arrangements at cattle markets reviewed

They said that the government’s measure helped control the coronavirus pandemic, but carelessness could lead to resurgence of the disease.

Published 28 Jul, 2020 07:41pm

Pakistan

Balochistan CM approves summary of registering corruption case against officials of two depts

The Planning and Development department has recommended to register a case against the officers concerned in anti-corruption office.

Published 28 Jul, 2020 07:20pm

Sports

Younis revels reason of bating failure during final practice game

The 42-year-old believes that bowlers are well aware of the weakness of their teammates.

Published 28 Jul, 2020 07:07pm

Cabinet okays setting up commission to probe last month's petroleum shortage

He said the Cabinet also discussed the Karachi situation in the wake of recent rains, which had flooded the city roads and streets.

Updated 28 Jul, 2020 07:20pm

Sports

Broad takes 500th Test wicket to join illustrious company

The pacer has become the seventh bowler to attain the milestone, reaching it in his 140th Test.

Published 28 Jul, 2020 07:05pm

Life & Style

Nolan blockbuster 'Tenet' set for August 26 international release

The studio said the movie will open in over 70 countries, but not in Pakistan.

Updated 28 Jul, 2020 06:56pm

Pakistan

Usman Institute of Technology announces 20% concession in fees

Won't let students suffer. Will aid them during crisis, says Zaheer Ali Sayed.

Updated 28 Jul, 2020 06:21pm

Energy

LNG tankers heading to Britain, Belgium and the Netherlands

Estimated arrival dates, often revised by port authorities and AIS Live ship-tracking data on Refinitiv Eikon, are updated below.

Published 28 Jul, 2020 05:35pm

Stocks

Australian shares give up gains on fears of stricter COVID-19 restrictions

The S&P/ASX 200 index fell 0.39pc to 6,020.50 points at the close of trade.

Published 28 Jul, 2020 05:33pm

Europe

Wear masks outdoors too if distancing can't be maintained: German agency

Lothar Wieler said basic hygiene rules such as handwashing and distancing must be followed to keep infections down.

Published 28 Jul, 2020 05:32pm

Money & Banking

Bank of England to consider extending suspension of payouts by banks

The BoE said its Prudential Regulation Authority would undertake its assessment of distribution plans beyond the end of 2020, in the fourth quarter.

Published 28 Jul, 2020 05:31pm

Europe

Spain lockdown leaves 1mn jobless but not 'unemployed'

That pushed the unemployment rate to 15.3 percent from 14.4 percent in the first quarter.

Published 28 Jul, 2020 05:30pm

Forex

South Africa's rand firms, focus on Fed meeting

At 0625 GMT, the rand traded at 16.4275 per dollar, 0.17pc firmer than its close on Monday.

Published 28 Jul, 2020 05:29pm

Europe

Turkey suspends energy search off Greek island 'for a while'

"Despite this our president said while the negotiations are continuing, let's be constructive and hold (energy search) for a while," he said.

Published 28 Jul, 2020 05:29pm

Business & Finance

Mitsubishi Motors hits all-time low as ASEAN sales slump casts doubt on recovery

The automaker also projected an operating loss of 140 billion yen ($1.33 billion) for the year ending on March 31, 2021, its biggest loss in at least 18 years.

Published 28 Jul, 2020 05:26pm

World

Beijing says troops disengaged on most of China-India border

After the clash on June 15, Chinese and Indian officials met and agreed to take steps to ease the situation.

Published 28 Jul, 2020 05:27pm

USA

Fuel trucks catch fire in Iran's Kermanshah: reports

The blaze broke out during repair work to a heavy vehicle before spreading to seven others, governor Fazlollah Ranjbar said, quoted by the official IRNA news agency.

Published 28 Jul, 2020 05:17pm

Energy

Oil prices steady as demand concerns offset US stimulus hopes

Efforts to stimulate the US economy's recovery from the coronavirus crisis had raised hopes for stronger oil demand.

Published 28 Jul, 2020 05:24pm

Money & Banking

Hungary central bank offers to buy 15-yr, 20-yr bonds from banks

The central bank did not specify the amount of bonds it would purchase as part of efforts to shore up the economy hit by the coronavirus pandemic.

Published 28 Jul, 2020 05:23pm

Stocks

S. Korean shares close higher on Samsung Electronics rally, robust foreign buying

Foreigners bought net 1.31 trillion won ($1.09 billion) worth of shares on the main board, the biggest since September 2013.

Published 28 Jul, 2020 05:21pm

Commodities

London copper advances as investors eye US stimulus package

Positive COVID-19 vaccine developments, with Moderna Inc and Pfizer Inc launching two late-stage vaccines trials that could achieve regulatory approval and widespread use by end-2020.

Published 28 Jul, 2020 05:18pm

Europe

Spain's unemployment rises to 15.33pc in Q2

The jobless rate rose in the second quarter compared with 14.41pc in the previous quarter.

Published 28 Jul, 2020 05:16pm

Europe

Russia's coronavirus cases surpass 820,000

Russia's coronavirus taskforce said 150 people had died over the last 24 hours, pushing the official death toll in the country of around 145 million people to 13,504.

Published 28 Jul, 2020 05:06pm

Sports

Real Madrid striker reportedly tests positive for COVID-19

The La Liga champions were planning to return to training this week after undergoing mandatory COVID-19 test.

Updated 28 Jul, 2020 05:15pm

Middle East

Third Iraq protester dies of tear gas canister wound this week

But by Monday evening, the confrontations in the capital's main anti-government protest camp of Tahrir Square had started anew.

Published 28 Jul, 2020 05:06pm

Stocks

Nikkei ends lower ahead of earnings rush, Mitsubishi Motors slumps

The Nikkei share index fell 0.26pc to 22,657.38, while the broader Topix lost 0.48pc to 1,569.12.

Published 28 Jul, 2020 05:03pm

Stocks

Chinese stocks gain most in a week on economic recovery hopes

The smaller Shenzhen index added 1.4pc and the start-up board ChiNext Composite index rose 1.3pc.

Published 28 Jul, 2020 05:01pm

Stocks

Saudi dips on financials in quiet trade for major Gulf indexes

Saudi Arabia's benchmark index eased 0.1pc, hurt by a 0.2pc fall in Al Rajhi Bank and a 0.3pc decrease in the country's biggest lender National Commercial Bank.

Published 28 Jul, 2020 04:58pm

Europe

Macron tries to placate France's under-fire police

The special allowance sought to compensate for the "additional hardship associated with night work" accompanied by increased demand for police on the ground, added the ministry.

Published 28 Jul, 2020 04:57pm

Forex

Rouble falls as investors focus on Fed meeting

The rouble was 0.5pc weaker against the dollar at 71.94 and had lost 0.2pc to trade at 84.27 versus the euro.

Published 28 Jul, 2020 04:56pm

Africa

Mali opposition rejects ECOWAS plan, insists president quit

In a statement, the so-called June 5 Movement said it "demands the resignation of Mr. Ibrahim Boubacar Keita and his regime more than ever," accusing them of bearing "full responsibility" for Mali's crisis.

Published 28 Jul, 2020 04:49pm

Industry

Walmart's Flipkart to offer 90-minute deliveries in India

Flipkart Quick will debut in select locations in Bengaluru, the company said, without specifying a launch date.

Published 28 Jul, 2020 04:53pm

Money & Banking

ECB extends dividend ban, capital relief for euro zone banks

The ECB said banks could withstand a second wave of infections, but it called on authorities to be ready to intervene and prevent a credit crunch, possibly including recapitalisations.

Published 28 Jul, 2020 04:52pm

Asia

Indonesia reports 1,748 new coronavirus infections, 63 deaths

The number of deaths in the Southeast Asian nation related to COVID-19 rose by 63, bringing the total to 4,901.

Published 28 Jul, 2020 04:51pm

Energy

UK GAS-Prompt prices rise on low Norwegian flows, high wind output

The within-day contract was up 0.35 pence at 12.35 pence per therm by 0810 GMT.

Published 28 Jul, 2020 04:48pm

Asia

Malaysian ex-PM Najib sentenced to 12 years' jail over 1MDB scandal

The Kuala Lumpur High Court also ordered him to pay a fine of 210 million ringgit ($49 million).

Published 28 Jul, 2020 04:46pm

Financial

Indonesia raises 22 trln rupiah from debt auction, above target

The weighted average yields of the bonds were below comparable bonds in the previous auction on July 14.

Published 28 Jul, 2020 04:47pm

Stocks

Hong Kong stocks edge higher on recovery hopes

The Hang Seng index closed up 0.7pc at 24,772.76. The Hang Seng China Enterprises index rose 0.8pc.

Published 28 Jul, 2020 04:45pm

Europe

Turkey defends top cleric over Ataturk 'insult' controversy

Erbas said Mehmet endowed Hagia Sophia to believers on condition that it should remain a mosque for all time.

Published 28 Jul, 2020 04:44pm

Forex

Sterling slips from 4-month highs on dlr bounce, Brexit talks

The EU says a deal needs to be done by October to allow time for ratification by the end of the year. Both sides have said the talks may be stalling.

Published 28 Jul, 2020 04:42pm

Exchange

EU to restrict exports to Hong Kong over security law

The bloc has expressed deep concerned over the new law, which critics say will severely curb Hong Kong's longstanding autonomy and relative freedom.

Published 28 Jul, 2020 04:42pm

Stocks

European shares edge higher, luxury stocks dampened by weak results

The pan-European STOXX 600, German DAX and London's FTSE 100 all rose 0.4pc.

Published 28 Jul, 2020 04:41pm

World

No indication new coronavirus is seasonal: WHO

She pointed out that some of the hardest-hit countries are currently in the midst of different season.

Published 28 Jul, 2020 04:41pm

Forex

Burst of selling hits Turkish lira after two steady months

It quickly rebounded and on Tuesday had settled to 6.875 by 0807 GMT, largely within a tight range it has remained in for two months.

Published 28 Jul, 2020 04:39pm

Europe

Petrol bomb at Belgian parliament was virus protest

The 36-year-old was arrested on Monday after the homemade incendiary was thrown near the Brussels assembly, hurting no one but causing superficial damage to the pavement.

Published 28 Jul, 2020 04:36pm

South Asia

Hong Kong reports 106 new coronavirus cases as local transmissions stay high

The new regulations, which also mandate masks in outdoor spaces, take effect from Wednesday for one week.

Published 28 Jul, 2020 04:38pm

Business & Finance

Canon reports first ever quarterly loss, cuts dividend

The net loss in April-June came to 8.8 billion yen ($83.4 million) compared with the prior year's profit of 34.5 billion yen in that quarter.

Published 28 Jul, 2020 04:34pm

World

Africa heads to coronavirus landmark with worse to come

Countries across Africa have recorded more than 850,000 infections and at least 18,000 deaths, according to an AFP tally as of Tuesday.

Published 28 Jul, 2020 04:31pm

Business & Finance

Nissan forecasts record $4.5bn annual loss as pandemic hinders turnaround efforts

Years of aggressive expansion, particularly in emerging markets, has left Nissan with dismal margins, an ageing portfolio and a tarnished brand.

Published 28 Jul, 2020 04:33pm

South Asia

Philippines confirms 1,678 new coronavirus cases, 4 deaths

The ministry said total deaths had increased by four to 1,947, with confirmed cases rising to 83,673.

Published 28 Jul, 2020 04:21pm

Stocks

Gold hits new high; equities struggle on virus fears

The virus uncertainty, combined with China-US tensions, has sent gold soaring nearly 30 percent this year -- and on Tuesday it struck another record pinnacle at $1,981.27 per ounce in Asian trade.

Published 28 Jul, 2020 04:29pm

WHO says COVID-19 pandemic is ‘one big wave’, not seasonal

"People are still thinking about seasons. What we all need to get our heads around is this is a new virus and...this one is behaving differently," Margaret Harris told a virtual briefing in Geneva.

Published 28 Jul, 2020 04:15pm

World

Worldwide coronavirus cases cross 16.57 million, death toll at 654,269

Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December 2019.

Published 28 Jul, 2020 04:13pm

Energy

China's fuel exports poised for a strong rebound this month and next

Fuel exports from Asia's top gasoline and third-biggest gasoil exporter fell 50pc in May and stayed weak in June.

Published 28 Jul, 2020 04:10pm

Europe

Italy will help tourism, auto sectors in next stimulus drive: minister

The government has said it will present the measures in an emergency decree early in August.

Published 28 Jul, 2020 04:05pm

Commodities

Gold beats a retreat from record peak as dollar bounces

Spot gold fell 0.7pc to $1,929.35 per ounce by 1000 GMT, retreating from a record $1,980.57 hit earlier, as traders took profits.

Published 28 Jul, 2020 04:03pm

Middle East

Iran registers a record 235 coronavirus deaths in 24-hour period

Health Ministry spokeswoman Sima Sadat Lari announced on state television that the number of registered coronavirus cases had reached 296,273 cases and the death toll was 16,147.

Published 28 Jul, 2020 04:01pm

Stocks

Indian shares climb as US stimulus hopes boost global sentiment

Europe's STOXX 600 eked out a 0.2pc rise after MSCI's broadest index of Asia-Pacific shares outside Japan ended up 0.8pc.

Published 28 Jul, 2020 03:59pm

571 new cases take Sindh's tally to 119398

Karachi reported 244 new cases today.

Published 28 Jul, 2020 03:50pm

Commodities

Palm oil extends falls on cheaper rivals, profit-taking

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange declined 2.4pc to 2,608 ringgit ($613.65) a tonne when markets closed.

Published 28 Jul, 2020 03:57pm

Currency

Euro off two-year highs before Fed meeting

Some dollar weakness came amid political wrangling over the next US fiscal rescue package.

Published 28 Jul, 2020 03:54pm

Europe

Masks to be compulsory at more indoor public spaces in Greece

Greece's health minister said last week the country was not facing a second wave of infections but needs to remain vigilant.

Published 28 Jul, 2020 03:51pm

Forex

Ugandan shilling flat as month-end flows lend support

At 1006 GMT, commercial banks quoted the shilling at 3,690/3,700, the same position as Monday's close.

Published 28 Jul, 2020 03:49pm

Sports

Chelsea want to seal Havertz deal by next week

The Blues confirmed their place in next season's elite after clinching a 2-0 victory over Wolves on Sunday.

Updated 28 Jul, 2020 03:07pm

Industry

British Airways to resume flight operations to Pakistan

As per details, the carrier is resuming its air operations to Pakistan from August, the British company will operate three flights a week from Heathrow to Islamabad.

Published 28 Jul, 2020 02:52pm

Pakistan

IBM launching Open P-tech learning platform in Pakistan

“IBM is launching Open P-TECH in Pakistan to help develop talent and equip them with technical and professional proficiency in AI, Data Science, Cybersecurity, Cloud, etc - enabling our workforce for a Digital Pakistan,” said Aidrus in a tweet post.

Published 28 Jul, 2020 02:46pm

Sports

Drop him again: Warner hails England nemesis Broad

Australian batsman heaped praise on his Ashes nemesis.

Updated 28 Jul, 2020 02:37pm

Exchange

Pakistan receives $505mn from WB

The disbursements under the programme will strengthen foreign exchange reserves and provide liquidity for the economy.

Published 28 Jul, 2020 02:08pm

Sports

Sarfaraz, Wahab named in 20-member squad for England Test

First Test between the two sides will begin on August 5.

Published 28 Jul, 2020 01:59pm

Sports

Lanka Premier League to begin on August 28: SLC

A total of 23 matches would be held at four venues across the country.

Published 28 Jul, 2020 01:55pm

Life & Style

Joe Jonas and Sophie Turner welcome first child

The couple's daughter, named Willa, was born on July 22.

Updated 28 Jul, 2020 01:46pm

Business & Finance

Despite slowdown Pakistan’s external account has been stabilized: Monthly Economic Outlook

During FY2020, current account deficit is reduced by 77.9% to $ 2.9 billion (1.1 % of GDP) against $ 13.4 billion last year (4.8 % of GDP).

Published 28 Jul, 2020 01:40pm

Tiger Force Day to be celebrated on August 9: PM

He said government is planning to set a record for planting the most amount of trees on this day.

Published 28 Jul, 2020 01:22pm

Pakistan

WB, Sindh govt to launch SWEEP project for Karachi

Illango informed that the project is currently being appraised and no funds have been approved or disbursed.

Published 28 Jul, 2020 12:43pm

Industry

PIA makes alcohol test mandatory for cabin crew

According to the notification, the cabin crew has been required to undergo a Breathalyzer test. The notification said that the purpose of the test was to prevent the use of alcohol and drugs in the crew.

Published 28 Jul, 2020 12:21pm

Business & Finance

FBR dismisses three employees involved in misconduct

FBR has issued dismissal orders in accordance with Efficiency and Discipline Rules-1973 after their official misconduct was confirmed during the official inquiry.

Published 28 Jul, 2020 11:43am

World

Malaysian ex-PM Najib convicted on all charges in first 1MDB trial

“After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a resonable doubt,” Kuala Lumpur High Court judge Mohamad Nazlan Mohamad Ghazali said.

Published 28 Jul, 2020 11:23am

BR Research

State of exports

Last week a list of (supposedly) top 100 exporting companies from Pakistan kept making rounds in business and...

Updated 28 Jul, 2020 11:13am

Punjab reports 206 new infections, nine deaths

Lahore reported 70 new cases and four more deaths from the infection.

Published 28 Jul, 2020 10:41am

Pakistan

Forensic expert says suicide note found near Sadaf Zahra was penned by her

Expert said the note was not written by her husband Ali Salman.

Updated 28 Jul, 2020 10:39am

Forex

Dollar bounces as gold bulls take a breather

The world’s reserve currency has been tumbling since May and was dumped in recent days as cracks in the U.S. coronavirus recovery and crumbling yields sent investors elsewhere.

Published 28 Jul, 2020 10:31am

Commodities

Oil prices rise on U.S. stimulus hopes, weaker U.S. dollar

The U.S. Federal Reserve’s policy-setting panel meets on Tuesday and Wednesday, where it is expected to reiterate it will keep interest rates near zero for years to come.

Published 28 Jul, 2020 10:28am

Companies

Mitsubishi Motors hits all-time low as ASEAN sales dive raise recovery doubts

The automaker has bet on growth in Indonesia, Philippines, Thailand and Vietnam where it has dominated bigger rivals, and which have felt the brunt of the coronavirus pandemic later than China and other developed countries.

Published 28 Jul, 2020 10:21am

Technology

Hydrogen champion Hyundai races to electric as Tesla takes off

The South Korean company plans to introduce two production lines dedicated to electrics vehicles (EVs), one next year and another in 2024, according to an internal union newsletter seen by Reuters.

Published 28 Jul, 2020 10:17am

Pakistan

Pakistan urges worshippers to buy sacrificial animals online to prevent COVID-19 surge

Government social-distancing restrictions this year including half-day closing have seen a drop in customers at the normally bustling markets.

Published 28 Jul, 2020 10:15am

BR Research

Billing collection: The elephant in the room

Nepra has approved monthly Fuel Price Adjustments (FPA) for eight months starting November 2019. Expectedly, the...

Published 28 Jul, 2020 08:22am

BR Research

The LPG conundrum

While its share in comparison to crude oil and natural gas remains miniscule at 1.3 percent, Liquefied Petroleum Gas...

Published 28 Jul, 2020 08:18am

Exchange

Good quarter for PAKT

Whether or not folks smoked a whole lot more during the height of coronavirus is unclear. But the latest financials...

Published 28 Jul, 2020 08:17am

Currency

Mahmood Textile Mills Limited

Mahmood Textile Mills Limited (PSX: MEHT) was established in 1970 as a public limited company under the Companies...

Published 28 Jul, 2020 08:16am

Pakistan

Covid-19: Nationwide tally reaches 274,808

ISLAMABAD: The Covid-19 nationwide cases tally on Monday reached 274,808, death toll 5,853 and recoveries so far...

Updated 28 Jul, 2020 04:08am

Pakistan

No plan to extend trade bodies' tenure: Razak

KARACHI: Prime Minister's Adviser on Commerce and Trade, Abdul Razak Dawood said elections of trade bodies will be...

Updated 28 Jul, 2020 04:07am

Pakistan

Islamic Centre: Rs15m earmarked for renovation, library and art gallery

KARACHI: Mayor Karachi Wasim Akhtar has said after restoring the Islamic Center at Ayesha Manzil to its original...

Updated 28 Jul, 2020 04:07am

Pakistan

PC recommends local funding for urban development

KARACHI: Planning Commission (PC) has recommended that the urban development financing should be through local...

Updated 28 Jul, 2020 04:06am

Pakistan

Covid-19 claims 11 more lives, infects 513 in Sindh: CM

KARACHI: As many as 513 new cases of Covid-19 were detected out of 8,742 tested samples lifting the tally to 118824...

Updated 28 Jul, 2020 04:06am

Pakistan

KPC takes exception toRangers personnel's entry to its premises

KARACHI: The governing body of Karachi Press Club (KPC) has taken strong exception to Rangers' entry into its...

Updated 28 Jul, 2020 04:05am

Pakistan

ATC removes terrorism clause from judge's video case

ISLAMABAD: The anti-terrorism court (ATC) on Monday dropped the terrorism clauses from the controversial judge,...

Updated 28 Jul, 2020 04:01am

Pakistan

Poem-telling contest held at SU

HYDERABAD: Bureau of Students Tutorial Guidance/Counselling Services and Co-curricular Activities (STAGS), ...

Updated 28 Jul, 2020 04:01am

Pakistan

PPP, PTI lawmakers clash over Karachi civic issues

ISLAMABAD: The Pakistan People's Party (PPP) and the Pakistan Tehreek-e-Insaf (PTI) lawmakers in the National...

Updated 28 Jul, 2020 04:00am

Pakistan

Eidul Azha, Muharram: PM asks nation for strict SOPs compliance

ISLAMABAD: Prime Minister Imran Khan on Monday appealed to the people to fully adhere to the standard operating...

Updated 28 Jul, 2020 03:59am

Pakistan

Timely steps decreasing cases: KP CM

PESHAWAR, July 27- KP Chief Minister Mahmood Khan has said that due to timely and effective measures of the...

Updated 28 Jul, 2020 03:58am

Pakistan

IHC rejects petition seeking reopening of schools

ISLAMABAD: The Islamabad High Court (IHC) on Monday rejected a petition filed by private school owners seeking the...

Updated 28 Jul, 2020 03:58am

Pakistan

Terrorists pose serious threats to Pakistan, Afghanistan: UN

ISLAMABAD: The United Nations has warned that the presence of a large number of terrorists in Afghanistan,...

Updated 28 Jul, 2020 03:58am

Pakistan

CPEC projects: PML-N, PTI lawmakers take credit

ISLAMABAD: Federal Minister for Communications Murad Saeed and former minister for planning Ahsan Iqbal of Pakistan...

Updated 28 Jul, 2020 03:57am

Pakistan

All set to issue int'l tender for Sukkur-Hyderabad Motorway

ISLAMABAD: The government is all set to issue international tender for Sukkur-Hyderabad Motorway (M-6), a critical...

Updated 28 Jul, 2020 03:56am

Pakistan

ICT closes parks, recreational spots till Eid holidays

ISLAMABAD: Aimed at controlling the spread of the coronavirus during Eidul Azha holidays, the Islamabad Capital...

Updated 28 Jul, 2020 03:56am

Exchange

IMF helping Pakistan to extricate from FATF grey list

ISLAMABAD: The International Monetary Fund (IMF) has been providing technical assistance to Pakistan with the...

Updated 28 Jul, 2020 03:54am

Exchange

Action against 'sugar mafia' ordered

ISLAMABAD: The federal government on Monday directed the authorities concerned to launch a crackdown against 'sugar...

Updated 28 Jul, 2020 03:54am

Housing finance: ECC decision to be endorsed by Cabinet today

ISLAMABAD: The federal cabinet which is scheduled to meet Tuesday (today) with Prime Minister Imran Khan in the...

Updated 28 Jul, 2020 03:53am

Low remittances to exacerbate external positions: Moody's

ISLAMABAD: Lower remittances will exacerbate Pakistan's already weak external positions, says Moody's Investor...

Updated 28 Jul, 2020 03:52am

Waqar Masood made head of 'Subsidies Cell'

ISLAMABD: The government has appointed former secretary finance, Dr Waqar Masood Khan, as head of the newly-created...

Updated 28 Jul, 2020 03:52am

ICJ-specific ordinance laid before NA

ISLAMABAD: The federal government on Monday laid "International Court of Justice (Review and Reconsideration)...

Updated 28 Jul, 2020 03:51am

Appointments in Wapda: Ministry challenges recommendations by CCI

ISLAMABAD: Ministry of Water Resources (MoWR) has challenged recommendations of Council of Common Interests (CCI)...

Updated 28 Jul, 2020 03:50am

Revenue project to cover most organised, compliant sectors

ISLAMABAD: The pilot project of the Federal Board of Revenue (FBR) and the provincial revenue authorities/boards for...