News Archives for Latest - 2020-08-07

Exchange

US imposes sanctions on Hong Kong's Lam, other officials over crackdown

The sanctions target Hong Kong Police commissioner Chris Tang and his predecessor Stephen Lo; John Lee Ka-chiu, Hong Kong's secretary of security, and Teresa Cheng.
"Carrie Lam is the chief executive directly responsible for implementing Beijing's policies of suppression of freedom and democratic processes," it said.

Published 07 Aug, 2020 11:54pm

Commodities

Pakistan tenders to buy 1.5mn tonnes wheat

Pakistan allowed private sector wheat imports in June to cool domestic wheat and flour prices.
"Traders had expected the state to issue a large import tender to relieve tight domestic supplies," one European trader said.

Published 07 Aug, 2020 11:47pm

South Asia

At least 15 dead as Indian COVID repatriation flight crashes on landing

Some of them lying motionless on stretchers, brought into a hospital surrounded by health workers wearing masks because of the COVID-19 pandemic.
The plane skidded off a runway, crashing nose-first into the ground.
Air India Express AXB1344, was a repatriation flight operated by the government to bring Indians home during international travel restrictions.

Published 07 Aug, 2020 11:36pm

Energy

Oil slips below $45/bbl on demand concerns, set for weekly rise

Little progress seen in US coronavirus relief talks.
US job growth slows sharply in July.
Saudi Arabia, Iraq stress full commitment to OPEC+ deal.
US oil & gas rig count falls to record low for 14th week.

Published 07 Aug, 2020 11:33pm

Stocks

Slowing job growth weighs on Wall St as focus turns to stimulus

US economy added 1.76 mln jobs in July – report.
Congress to continue talks on coronavirus relief bill.
Trump moves to ban WeChat, TikTok, amps up friction with Beijing.
Indexes off: Dow 0.34%, S&P 0.34%, Nasdaq 1.16%.

Published 07 Aug, 2020 11:33pm

World

Democrats offer to cut $1trn from coronavirus plan, White House says no

Nancy Pelosi disclosed the offer as she and Senate Democratic Leader Chuck Schumer prepared to meet White House negotiators again on Friday afternoon.
Treasury Secretary Steven Mnuchin, one of the White House negotiators, rejected Pelosi's proposal out of hand, telling reporters, "that's a non-starter."

Published 07 Aug, 2020 11:23pm

Energy

US oil & gas rig count falls to record low for 14th week

The US rig count, an early indicator of future output, fell by four to an all-time low of 247 in the week to Aug. 7.
US oil rigs fell by four to 176 this week, their lowest since July 2005, while gas rigs held steady at 69, according to Baker Hughes data.

Published 07 Aug, 2020 11:16pm

Currency

Ratings agencies warn Turkey it may need to hike rates

Ankara indicated on Friday it would use more backdoor policy tightening to try to stabilise the currency.
In an email to Reuters, he added that usable foreign exchange reserves were expected to drop below $10 billion this year from around $30 billion last year.

Published 07 Aug, 2020 11:08pm

Exchange

Brazil's Senate approves cap on overdraft, credit card interest

The current average interest rate for overdraft lines is 110% and for rolled-over credit card debt it stands at 300%.
Brazil's lower house still has to vote on the bill.

Published 07 Aug, 2020 11:04pm

World

UN agencies scramble to help Beirut warehouse blast victims

The United Nations announced an additional $6 million in funding for its response - taken from its Central Emergency Response Fund.
The WHO has flown supplies from Dubai to treat people burned and wounded by flying glass and other debris.

Published 07 Aug, 2020 11:01pm

Industry

Delta wants at least 3,000 flight attendants to take unpaid leave

Airlines are suffering their worst crisis in history due to the COVID-19 pandemic, which decimated air travel demand and crushed the US economy in the second quarter.
The fallout has put tens of thousands of airline jobs at risk as carriers warn an industry recovery could take years.

Updated 07 Aug, 2020 11:01pm

International flights to resume from all airports from August 9

Government already gave the green signal to resume domestic flight operations from all airports.

Published 07 Aug, 2020 10:23pm

Air India plane crashes in India's Kerala, at least two feared dead

The plane was coming in from Dubai and it overshot the runway as it landed

Published 07 Aug, 2020 09:00pm

Exchange

Vessel registered in Pakistan will be exempted from custom duty, income tax till 2030: Zaidi

The minister announced new shipping policy under which incentives have been provided to private shipping companies

Published 07 Aug, 2020 08:44pm

Six electrocuted to death as rain, power outages bring more misery for Karachiites

Met office warned of urban flooding and predicted that this year 10 percent more rains are expected in Sindh as compared to previous year

Updated 07 Aug, 2020 08:39pm

World

Germany and France quit WHO reform talks amid tension with Washington

The move is a setback for President Donald Trump as Washington had hoped to issue a common roadmap for a sweeping overhaul of the WHO in September

Published 07 Aug, 2020 08:11pm

Nine deaths, 487 coronavirus cases reported in Sindh during 24 hours

CM says 6,022 patients are under treatment in the province out of which 212 are in critical condition

Published 07 Aug, 2020 07:52pm

Pakistan

Cops kill citizen, injure another assuming them as robbers

Eyewitnesses say the victims were unarmed and were talking to each other when the cops opened fired on them

Published 07 Aug, 2020 07:11pm

Sports

Pakistan bowl England out for 219 in first Test

The Men in Green lead by 107 runs at the end of the first innings.

Published 07 Aug, 2020 07:08pm

Sports

IPL clash sees England tour of India moved to early 2021

The IPL was due to be staged earlier in the year but was postponed due to Covid-19.

Updated 07 Aug, 2020 07:08pm

PM inaugurates Ravi Development Authority Project in Lahore

Imran says the cost of the project is Rs5 trillion and it is important for the city to address issues pertaining to water and pollution

Updated 07 Aug, 2020 06:02pm

Situation in IoK not normalised: US Congress body expresses bipartisan ‘concern’

Democratic and Republican representatives say circumstances in Jammu and Kashmir are still far from normal one year after India’s repeal of Article 370

Updated 07 Aug, 2020 05:11pm

Sports

‘Bale did not wish to play against City’

Real manager Zidane says player himself chose not to travel.

Updated 07 Aug, 2020 04:49pm

Business & Finance

Govt appoints Brigadier (retd) Shuja Hassan as Pakistan Steel Mills CEO

As per details, a notification has also been issued for the appointment of Shuja Hassan as CEO of the Steel Mills on Friday.

Published 07 Aug, 2020 04:02pm

Sports

Manchester City face Real Madrid on Champions league return

City lead Madrid 2-1 due to victory in the first-leg.

Updated 07 Aug, 2020 04:06pm

Sports

Hamilton puts new Mercedes deal on hold

Six-time world champion says ‘it just doesn't feel like the right time’.

Updated 07 Aug, 2020 03:24pm

Business & Finance

Pakistan’s export product diversification strategy reaping results, says Dawood

Dawood was of the view that the diversification of our exports away from the traditional sectors to new developmental sectors is an important part of government strategy.

Published 07 Aug, 2020 03:11pm

Sports

Misbah heaps praise Shan after career-best knock

The left-hander shattered numerous records in his fantastic 156-run knock which include 18 boundaries and two maximums.

Published 07 Aug, 2020 02:45pm

Pakistan

AKUH launches nation’s first nurse-led lactation clinic

This clinic aims to empower and help mothers across Pakistan ensure their infants’ good health from the day they are born.

Updated 07 Aug, 2020 02:44pm

Perspectives

Crossing Pakistan’s COVID frontier

As I sipped my evening chai with family in Lahore a few months ago, someone pointed to the television screen showing...

Published 07 Aug, 2020 02:34pm

Technology

Only 2pc Pakistani households own tablet, 7pc have laptops: reveals Gallup

Provincially, households from urban Sindh boast the highest percentage of ownership (4pc).

Published 07 Aug, 2020 02:13pm

Sports

PCB announces financial rewards for ground staff

As many as 63 ground staff – across Karachi, Lahore, Multan and Rawalpindi – will receive a 50 per cent bonus on their salaries for the month of August.

Published 07 Aug, 2020 01:51pm

PM meets Punjab CM

The PM will inaugurate Ravi Development Authority.

Published 07 Aug, 2020 01:59pm

Life & Style

There's a Dirty Dancing sequel in the works with original star Jennifer Grey

The 1987 film was a box office smash and featured hit song “(I’ve Had) The Time of My Life".

Updated 07 Aug, 2020 01:45pm

World

Qatari royal family member financed ‘weapons deliveries’ to Hezbollah, puts US troops at risk

A private security contractor, Jason G said he was offered 750,000 euros by Qatar’s ambassador to Belgium and the North Atlantic Treaty Organization (NATO) to remain quiet on Qatar's role.

Published 07 Aug, 2020 12:51pm

Technology

Under fire TikTok releases Community Guidelines in Urdu

The development comes after last month Pakistan has issued a final warning to Chinese-owned social media app to clamp down on what it called "immoral, obscene and vulgar" content on the video-sharing platform.

Published 07 Aug, 2020 12:17pm

Pakistan

Cleaning of Karachi's storm-water drains to be completed today: NDMA

NDMA said 40 out of 42 chocking points have been cleared

Updated 07 Aug, 2020 12:04pm

Mutual Funds

KSE-100: when pennies march in

At Pakistan Stock Exchange (PSX) the benchmark index is not at dizzying heights; it is still down about 1.4 percent...

Updated 07 Aug, 2020 11:43am

BR Research

Wake me up when September ends

The Republic of Philippines has been told by a consultancy firm to look toward and adopt Pakistan’s successful...

Updated 07 Aug, 2020 11:41am

Technology

Fawad wants Sialkot to be given Gwadar like status for exports enhancement

“We want the entire district of Sialkot to be given the status similar to Gwadar so that the exports of $400 million can be increased to $2 billion in two years,” he said.

Published 07 Aug, 2020 10:56am

India suffers record jump in COVID-19 cases to pass 2 million

It is the third nation to pass that unwanted milestone, lagging behind only the United States and Brazil.

Published 07 Aug, 2020 10:43am

Technology

Trump issues bans on China's TikTok, WeChat, stoking tension with Beijing

The executive orders, which go into effect in 45 days, come after the Trump administration said this week it was stepping up efforts to purge “untrusted” Chinese apps from U.S. digital networks and called TikTok and WeChat “significant threats.”

Published 07 Aug, 2020 10:38am

Technology

Facebook employees to work from home until July 2021 due to coronavirus outbreak; get $1,000 for home offices

The company joins other big technology firms that have taken similar steps recently.

Published 07 Aug, 2020 10:34am

Forex

Dollar bounces, yuan stung by Trump's Tiktok and WeChat ban

The Australian dollar also fell, hurt by concerns about worsening U.S.-China relations and the Reserve Bank of Australia’s downbeat assessment of the local economy.

Published 07 Aug, 2020 10:30am

Exchange

Uber rides take COVID-19 hit but food-delivery business doubles

The company said that despite those larger challenges it is sticking to its goal of being profitable on an adjusted basis before the end of 2021 thanks to stringent cost-cutting measures and a strong balance sheet. Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $837 million in the second quarter.

Published 07 Aug, 2020 10:27am

Commodities

BP poised to sell 'stranded assets' even if oil prices rally

The strategy was discussed at a BP executives meeting in July, the sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable.

Published 07 Aug, 2020 10:24am

Commodities

Saudi Arabia, Iraq stress full commitment to OPEC+ deal

The two ministers discussed the latest developments in oil markets, continued recovery in global demand and progress made towards implementing the OPEC+ agreement.

Published 07 Aug, 2020 10:20am

Business & Finance

China July trade surplus with U.S. at $32.46 billion

For the first seven months of the year, China’s trade surplus with the United States totalled $153.58 billion.

Published 07 Aug, 2020 10:18am

Commodities

Oil prices slip on uncertainty over U.S. recovery, stimulus

U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $41.93 a barrel at 0246 GMT, while Brent crude fell 6 cents, or 0.1%, to $45.03, after both contracts had earlier traded higher.

Published 07 Aug, 2020 10:16am

BR Research

Demystifying digital divide

Not all technologies are created equal. New technologies have a way to benefit the relatively-affluent and...

Published 07 Aug, 2020 09:37am

BR Research

Consumers short on confidence

Coronavirus seems to have dented the consumer confidence to a great extent. Not since September 2012 has the ...

Published 07 Aug, 2020 09:34am

Currency

An interview with Fahad Ashraf - GM, The Coca-Cola Export Corporation, Pakistan & Afghanistan Region

Consistency and longevity of policies crucial for improving investment climate Fahad Ashraf is the General Manager...

Published 07 Aug, 2020 09:33am

Sports

Women cricketers: PCB announces financial support package

LAHORE: Pakistan Cricket Board (PCB) announced on Thursday a three-month financial support package for the ...

Updated 07 Aug, 2020 04:53am

Middle East

Egypt and Greece ink exclusive zone deal

CAIRO: Egypt and Greece signed an agreement Thursday to set up an exclusive economic zone in the eastern...

Updated 07 Aug, 2020 04:51am

Middle East

Macron calls for international probe into Beirut blast

BEIRUT: French President Emmanuel Macron on Thursday called for an international investigation into the blast at...

Updated 07 Aug, 2020 04:50am

Middle East

Iran says US, Israel are nuclear 'threat' to region

TEHRAN: Iran's foreign minister said Thursday that the US and its ally Israel constitute a nuclear threat to the...

Updated 07 Aug, 2020 04:49am

World

'Vaccine nationalism' cannot beat virus: WHO

GENEVA: The World Health Organization Thursday warned against "vaccine nationalism," saying vaccine-hogging richer...

Updated 07 Aug, 2020 04:49am

World

Trump probe: New York prosecutors subpoenaed Deutsche Bank: NYT

WASHINGTON: The Manhattan district attorney's office, which has been seeking President Donald Trump's tax records,...

Updated 07 Aug, 2020 04:49am

Pakistan

Return of Chinese engineers, managers will give a boost to CPEC's power project in Thar

KARACHI: Work on Shanghai Electric's Thar Coal Block-1 Project, a priority implementation project of the...

Updated 07 Aug, 2020 04:46am

Pakistan

Muharram-ul-Haram: Punjab may call Rangers for government's assistance: minister

LAHORE: Provincial Minister for Law and Parliamentary Affairs Raja Basharat has said that the Punjab government is...

Updated 07 Aug, 2020 04:41am

Pakistan

Privatisation of Roosevelt Hotel: PIAIL given permission for in-camera briefing

ISLAMABAD: A parliamentary panel on Thursday has granted permission to the management of the Pakistan International...

Updated 07 Aug, 2020 04:40am

Pakistan

UHS to test Australian vaccine on Covid-19 patients

LAHORE: The University of Health Sciences (UHS) will test an Australian vaccine-COVAX-19, on active coronavirus...

Updated 07 Aug, 2020 04:34am

Pakistan

LHC issues contempt notices to secretaries of Punjab

LAHORE: The Lahore High Court (LHC) Chief Justice Muhammad Qasim Khan on Thursday issued contempt notices to chief...

Updated 07 Aug, 2020 04:33am

Pakistan

NAB summons Buzdar for allegedly issuing 'liquor licences'

LAHORE: The National Accountability Bureau (NAB) has summoned Punjab Chief Minister Usman Buzdar for allegedly...

Updated 07 Aug, 2020 04:33am

Pakistan

Govt aiming to reduce ACD, RD on certain raw materials: Razak

KARACHI: Advisor to Prime Minister on Commerce, Abdul Razak Dawood, has said that the government is aiming to reduce...

Updated 07 Aug, 2020 04:33am

Pakistan

CM details ministers, advisers to perform relief activities

KARACHI: Sindh Chief Minister Syed Murad Ali Shah, in pursuant of a weather advisory issued by Pakistan...

Updated 07 Aug, 2020 04:32am

Pakistan

Sugar commission's report: SHC seeks details of cabinet meeting

KARACHI: Sindh High Court (SHC) on Thursday sought the details of federal cabinet meeting pertaining to report of...

Updated 07 Aug, 2020 04:32am

Pakistan

PM welcomes UNSC session on IOK

ISLAMABAD: Prime Minister Imran Khan said on Thursday that Pakistan welcomed the United Security Council (UNSC) for...

Updated 07 Aug, 2020 04:32am

Industry

CCI Pakistan installs 4 new water filtration plants

ISLAMABAD: Coca-Cola Beverages Pakistan Limited (CCI Pakistan) has successfully installed four new water filtration...

Updated 07 Aug, 2020 03:25am

Industry

Carrefour Pakistan now offers online retail experience to customers

ISLAMABAD: Carrefour, operated in Pakistan by Majid Al Futtaim, has invested in its logistical infrastructure to now...

Updated 07 Aug, 2020 03:24am

Taxes

Utilisation period of input goods: Chief Collectors of Customs empowered to grant extension

ISLAMABAD: The Federal Board of Revenue (FBR) has empowered the Chief Collectors of Customs to grant extension in...

Updated 07 Aug, 2020 03:24am

Taxes

Imputable income: Super Tax not chargeable if tax return falls under PTR: ATIR

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR), Lahore Bench has held that the Super Tax is not chargeable...

Updated 07 Aug, 2020 03:23am

Industry

Brazil posts worst unemployment in 3 years

RIO DE JANEIRO: Virus-hit Brazil's unemployment rate rose to 13.3 percent in the April-June quarter, its highest in...

Updated 07 Aug, 2020 03:23am

Taxes

Rs 1.82 billion tax collected in July 2020 through ePay Punjab app

LAHORE: The ePay Punjab, the first ever government of Punjab payment aggregator for citizen facilitation and ease of...

Updated 07 Aug, 2020 03:23am

Customs obtaining export documents discourage under-invoicing

ISLAMABAD: Pakistan Customs is actively obtaining export documents from some of the major trading partners of the...

Updated 07 Aug, 2020 03:21am

Rain-battered Karachi roads cause hardship to motorists, residents

KARACHI: A widespread downpour coupled with thunderstorm and gusty winds struck Karachi Thursday wreaking havoc with...

Updated 07 Aug, 2020 03:21am

Currency

SBP introduces new category of foreign currency account

KARACHI: The State Bank of Pakistan (SBP) has introduced a new category of foreign currency account titled Foreign...

Updated 07 Aug, 2020 03:20am

Exchange

Procedure for trading of quoted shares thru NRVA announced

KARACHI: The State Bank of Pakistan (SBP) has announced procedure for trading of quoted shares through NRP Rupee...

Updated 07 Aug, 2020 03:20am

Exchange

Accountholders info: FBR prescribes statements for banks

ISLAMABAD: The Federal Board of Revenue (FBR) has prescribed statements for banks for providing information of...

Updated 07 Aug, 2020 03:19am

Currency

Non-Resident Pakistanis: SBP to introduce rupee value account for investment

KARACHI: In order to facilitate Non-Resident Pakistani (NRPs) for investment in Pakistan, the State Bank of Pakistan...

Updated 07 Aug, 2020 03:19am

SBP allows MFBs for lending against gold

KARACHI: The State Bank of Pakistan (SBP) enhancing the maximum loan size has allowed Microfinance Banks (MFBs) for...

Updated 07 Aug, 2020 03:19am

Parliament condemns India's steps to turn Muslims into minority in IIOJ&K

ISLAMABAD: The Parliament of Pakistan on Thursday reiterated its "complete rejection of India's illegal and...

Updated 07 Aug, 2020 03:18am

Life & Style

Aaj TV - Friday's schedule

KARACHI: All timings are in PST (Pakistan Standard Time). 06:00 News Hour 06:25 Headline News 06:30 News Hour 06:55...

Updated 07 Aug, 2020 03:18am

Buyer bought 60,000 tonnes of wheat as imports continue

HAMBURG: An importer in Pakistan has bought around 60,000 tonnes of wheat in past days to be sourced from optional...

Updated 07 Aug, 2020 03:17am

Windfall levy on crude oil, condensate, natural gas: 50 percent of collection to be shared with concerned province

ISLAMABAD: A meeting of the Council of Common Interests (CCI) Thursday unanimously approved Alternative and ...

Updated 07 Aug, 2020 03:17am

Business & Finance

CDWP approves four projects at cost of Rs 16.112 billion

ISLAMABAD: The Central Development Working Party (CDWP) has approved as many as four development projects at the ...

Updated 07 Aug, 2020 03:16am

Business & Finance

Philippine economy plunges into recession

MANILA: The Philippines plunged into recession after its biggest quarterly contraction on record, data showed...

Updated 07 Aug, 2020 03:15am

US sends first shipment of crude to Saudi Arabia in over a decade

NEW YORK: The United States sent a shipment of crude to Saudi Arabia in June, data from the US Census Bureau showed...

Updated 07 Aug, 2020 03:14am

Mutual legal assistance bill passed

ISLAMABAD: A joint-sitting of the Parliament on Thursday passed "The Mutual Legal Assistance (Criminal Matters) ...

Updated 07 Aug, 2020 03:13am

5 export-oriented sectors: Special power tariff still in limbo

ISLAMABAD: The government's special electricity tariff for five export-oriented sectors including textiles beyond...

Updated 07 Aug, 2020 03:13am

Various sectors allowed to reopen

ISLAMABAD: With Covid-19 cases on a decline in the country, the government of Pakistan on Thursday decided to allow...

Updated 07 Aug, 2020 03:13am

PIA announces Jashn-e-Azadi offer

KARACHI: Pakistan International Airlines (PIA) has announced its Jashn-e-Azadi offer to its customers. In order to...

Updated 07 Aug, 2020 03:12am

Pakistan

The Weather

KARACHI: The weather report on Thursday (August 6, 2020) and the forecast for Friday (August 7, 2020)....