News Archives for Latest - 2020-08-28

Pakistan

PM directs finalization of recommendations for reopening of schools

The meeting also took into account the steps required for opening up of the tourism sector, policy of testing, micro smart lockdown and the aviation sector.

Published 28 Aug, 2020 11:26pm

Pakistan

OGDCL makes another oil & gas discovery in Kohat

It is the third remarkable discovery of the OGDCL in district Kohat, where as per the initial results 1.6 Million Cubic Feet per Day (MMCFD) gas and 12 Barrel per Day (BPD) condensate could be produced.

Published 28 Aug, 2020 11:24pm

Pakistan

Kamyab Jawan Programme to create 1mn jobs: Usman Dar

He said youth, who had received loans under the Youth Entrepreneurship Scheme (YES), had already started different businesses.

Published 28 Aug, 2020 11:22pm

Pakistan

CM announces development, upgradation projects for Sahiwal

The CM assured them of an early solution and said that he was monitoring progress on development projects by visiting different cities, said a handout issued here.

Published 28 Aug, 2020 11:20pm

Pakistan

Govt to announce special incentive to Balochistan for RE projects: Sanjrani

The Chairman also directed bringing improvement in power distribution system and energy projects in Balochistan, said a news release issued here.

Published 28 Aug, 2020 11:18pm

Stocks

US stock advance in opening trading, Dow +0.3%

About 20 minutes into the session, the benchmark Dow Jones Industrial Average was up 0.3 percent to 28,566.90.

Published 28 Aug, 2020 11:16pm

Business & Finance

Coca-Cola to cut 4,000 jobs after Covid-19 hits Q2 profits

The company said it will offer similar deals in other countries with the aim of reducing involuntary layoffs, but did not give details.

Published 28 Aug, 2020 11:11pm

Pakistan

Gold price increase Rs200, sold at Rs116,700 per tola

The price of per tola silver remained stagnant at Rs. 1380 while that of 10 gram silver also witnessed no change and was traded at Rs. 1183.12.

Published 28 Aug, 2020 11:10pm

Pakistan

NDMA asks provincial authorities to take preventive measures to avoid flood losses

Tourists be apprised, availability of emergency services staff be ensured to cope with any eventuality besides sharing weather updates with WAPDA twice a day to avoid losses.

Published 28 Aug, 2020 11:07pm

Pakistan

Chohan hails Pak Army's rescue operation in Karachi

He said whenever nation face any calamity, Pakistan Army has always rendered its services, said a statement.

Published 28 Aug, 2020 11:02pm

Pakistan

World is failing oppressed Kashmiris struggle for freedom: Moeed

He said the creation of the United Nations (UN) after the Second World War was a landmark in human history.

Published 28 Aug, 2020 10:58pm

Pakistan

Unprecedented rains claimed 80 lives in Sindh, including 47 in Karachi: CM Sindh

Syed Murad Ali Shah said that all the encroachments from storm water drains, nullas and government lands would be removed without discrimination.

Published 28 Aug, 2020 10:56pm

Pakistan

Pak Army sets 3 mobile hospitals, 32 medical camps with civil admin in Karachi: ISPR

Pakistan Army troops were busy in shifting people to safer places where cooked meal was being provided to affected people in various areas struck due to heavy rains.

Published 28 Aug, 2020 10:53pm

Pakistan

All out efforts to be made to call Nawaz back to Pakistan: Gill

Nawaz Sharif had been giving false statement and hoodwinking the nation on many occasions, he said while talking in a private television channel program.

Published 28 Aug, 2020 10:51pm

Pakistan

NDMA establishes 56 relief camps, provides 3,000 tents to Sindh government

While food, drinking water and other essential items were being provided to flashflood hit area people.

Published 28 Aug, 2020 10:50pm

Pakistan

PM conveys best wishes for ailing Shinzo Abe; praises his leadership

He said that both the countries were leading to enhance cooperation in all areas with relations being further strengthened under premier Abe’s leadership.

Published 28 Aug, 2020 10:48pm

Pakistan

Residential buildings over nullah main cause of sewerage system destruction in Karachi: Governor Ismail

He said Karachi was plunging day-by-day after heavy rain and obsolete sewerage system.

Published 28 Aug, 2020 10:47pm

Pakistan

IPU holds immense potential to bring, peace, harmony in world: Sanjrani

He assured that Pakistan will continue to play an active role to achieve the commonly cherished goals with IPU.

Published 28 Aug, 2020 10:45pm

Pakistan

Germany condoles over deaths in Karachi rains

She reiterated that the climate change remained high on the agenda of German government.

Published 28 Aug, 2020 10:34pm

US expected to reduce troops in Iraq by a third to about 3,500: official

The United States and Iraq in June affirmed their commitment to the reduction of US troops in the country in coming months,
A US official, speaking on condition of anonymity, said the United States would go down to about 3,500 troops in Iraq in the next two to three months.

Published 28 Aug, 2020 09:52pm

Stocks

FTSE 100 ends second week down on virus woes, pound strength

Sterling above $1.33 for first time in 2020.
Greggs slips on report COVID-19 outbreak closes Leeds depot.
FTSE 100 down 0.6%, FTSE 250 up 0.2%.
BOE has more ammunition to support economy - BOE's Bailey.

Published 28 Aug, 2020 09:44pm

Energy

Oil markets flat as restarts begin at storm-hit energy operations

Some 300 offshore production facilities and half-dozen refineries halted ahead of a Category 4 storm.
Motiva Enterprises, operator of the largest US refinery, and Valero Energy Corp on Friday began restarting their Port Arthur, Texas, refineries.

Updated 28 Aug, 2020 09:44pm

New study reveals average temperature of Ice Age was 46 degrees Fahrenheit

Findings of the research will prove to be a breakthrough for climate scientists in evaluating the reason how rising atmospheric levels of carbon dioxide influence the average temperatures around the world

Updated 28 Aug, 2020 08:59pm

Business & Finance

Walmart wants to go viral with TikTok, Wall Street thinks it can

The retailer revealed plans to join Microsoft Corp in a bid for the social media firm's US assets.
Connecting with a younger audience is vital to Walmart's long-term outlook, especially as more digitally native generations move into their prime consumption years.

Published 28 Aug, 2020 08:13pm

Currency

Pakistan’s merchant marine policy-2020: headwinds or booster to the ports and shipping industry?

Prospects for Private Shipping Companies Private shipping companies have not been an alien concept for Pakistan. At...

Updated 28 Aug, 2020 08:16pm

USA

Canada records C$120.35bn deficit in first three months of 2020-21 fiscal year

Canada posted a C$85 million deficit in the period from April to June 2019/20.
On a monthly basis, Canada posted a deficit of C$33.58 billion in June, compared to the C$1.33 billion surplus recorded in June 2019.

Published 28 Aug, 2020 07:56pm

Forex

Argentine peso at new lows on deadline day; Brazil's real jumps 2pc

A deal is key to pulling Argentina out of default and reviving a country already in its third straight year of recession.
Focus is now on the (September meeting) if Fed undertakes an active approach to make up for past inflation misses or to demonstrate its dovish commitment via more asset purchases.

Published 28 Aug, 2020 07:54pm

Stocks

Tech stocks extend S&P 500's rally to seventh straight session

Workday surges after lifting annual subscription forecast.
Dell rises as quarterly profit tops estimates.
Coca-Cola rises after announcing restructuring, job cuts.
Indexes up: Dow 0.27%, S&P 0.25%, Nasdaq 0.55%.

Published 28 Aug, 2020 07:51pm

Companies

Nigeria's Lekoil seeks $100mn for Ogo oilfield drilling

Lekoil reached a deferred payment deal earlier this year to keep its stake in OML 310, where Ogo sits.
Lekoil is in talks for a mix of direct investment into the asset and vendor financing.

Published 28 Aug, 2020 07:49pm

Forex

Dollar slides on Fed shift; yen surges after Abe resignation

The yen significantly strengthened against the dollar after the news that Abe, Japan's longest serving prime minister.
You're seeing yen strength on a little bit of uncertainty," said Lou Brien, strategist at DRW Trading in Chicago.

Published 28 Aug, 2020 07:46pm

Forex

Sterling above $1.33 first time in 2020, hits 8-month high as dollar falls

Powell steered expectations of lower interest rates for longer as the central bank gets ready to accept an inflation above target after so many years of it undershooting 2%.
British business confidence has ticked up but remains far below usual levels as the economy struggles to cope with social distancing and employers are preparing to cut jobs.

Published 28 Aug, 2020 07:43pm

Forex

Russian rouble regains ground with an eye on geopolitical risks

The rouble tumbled this week after Russian President Vladimir Putin said the Kremlin had set up a "reserve police force" to support Belarusian leader Alexander Lukashenko.
The rouble had gained 0.7% to 74.48 against the dollar as of 1257 GMT and was 0.1% stronger at 88.51 versus the euro.

Published 28 Aug, 2020 07:41pm

Money & Banking

‘Go big and go fast’ - BoE's Bailey lauds power of bond-buying

We are not out of firepower by any means, and to be honest it looks from today's vantage point that we were too cautious about our remaining firepower pre-COVID.
Bailey said research by the BoE showed bond-buying by central banks was most effective at times of crisis in financial markets.

Published 28 Aug, 2020 07:39pm

World

Belarus will shut transit routes if sanctions imposed, Lukashenko says

Lukashenko said he would block European neighbours from shipping goods to Russia over Belarusian territory,
They got fat and forgot what Belarus is. And thought we could be frightened off with rockets and tanks.

Published 28 Aug, 2020 07:38pm

Sports

Messi to sign for Liverpool? No chance, says Klopp

Messi stunned world soccer earlier this week when he expressed his desire to leave Barcelona after nearly two decades with the Catalan club.
It would make it even more difficult to beat them (City) which was already very difficult," Klopp told.

Published 28 Aug, 2020 07:35pm

Forex

C$ forges ahead vs US dollar after Canada's GDP surges in June

The Canadian dollar was at 1.3079 to the greenback, or 76.46 US cents, stronger than Thursday's close of 1.3123, or 76.20 US cents.
The second-quarter GDP data confirm that the lockdown caused an unprecedented record contraction of 38.7% annualized.

Published 28 Aug, 2020 07:25pm

Financial

Longer-term yields stabilize, intermediate yields fall after auctions

The benchmark 10-year yield was down 1.3 basis points at 0.7326% in morning trading, while the 5-year note was down 2.4 basis points at 0.2862%.
A lot of this movement I would chalk off as more month-end buying, as opposed to anything fundamental.

Published 28 Aug, 2020 07:23pm

Currency

US consumer spending rises solidly; income rebounds

The report from the Commerce Department on Friday also showed a rise in personal income after two straight monthly declines.
The economy suffered its deepest contraction in at least 73 years in the second quarter.

Published 28 Aug, 2020 07:21pm

Energy

Siemens Energy to close sites after spin-off

"Production sites will be shut down," the person said, adding Siemens Energy currently has around 75 factories globally that employ more than 50 staff each.
A Siemens Energy spokesman said the group would start talks with labour representatives to explore what a common approach could look like, without elaborating.

Updated 28 Aug, 2020 07:21pm

One killed, several injured in Diamer landslide

A truck driver lost his life while several passengers suffered injuries due to landslide cause by recent rains

Published 28 Aug, 2020 07:03pm

Commodities

Corn set for 3rd week of gains on Chinese demand; soybeans, wheat firm

Soybeans firm on strong Chinese demand, corn slips.
Chicago wheat futures gain for 4th consecutive session.

Published 28 Aug, 2020 06:45pm

Financial

German yields rise to highest since June, focus turns to euro zone inflation

Fed Chairman Jerome Powell said on Thursday the central bank would now try to keep inflation at an average 2% over time.
French inflation data released on Friday was in line with expectations in a Reuters poll, rising 0.2% in August, down from 0.9% in July.

Published 28 Aug, 2020 06:37pm

Industry

Coca-Cola to cut jobs in restructuring

The company said it would have nine operating units that would sit under four geographical segments, along with global ventures and bottling investments divisions.
The voluntary separation packages would also be offered to employees in Canada and Puerto Rico. The company will also cut jobs.

Published 28 Aug, 2020 06:33pm

Companies

J&J to start mid-stage coronavirus vaccine trials in 3 European countries

The Phase II trial will last two months and include 550 participants across the three countries, including 190 people in Spain.
"It's a vote of confidence in our health system," Illa said, adding it was the first human trial for a coronavirus vaccine to be approved in Spain.

Published 28 Aug, 2020 06:30pm

Energy

Oil edges lower as US producers, refiners avoid worst of storm

WTI, Brent on track head for weekly gains.
Port of Houston set to reopen.
Refiners assess plants after storm passes.
Long-term demand outlook remains bearish.

Published 28 Aug, 2020 06:28pm

Commodities

Gold jumps almost 2pc on dollar retreat, dovish Fed stance

Spot gold was up 1.7% at $1,961.11 per ounce by 1149 GMT, taking gains this week to more than 1%. US gold futures rose 1.9% to $1,969.40.
An environment where interest rates are low and inflation is gradually picking up works perfectly for assets like gold.

Published 28 Aug, 2020 06:24pm

Exchange

Floods kill 23 in Karachi amid house collapses, power cuts

Record torrential rainfall flooded major city streets and damaged homes and other buildings.
At least 23 people, including women and children, died in different accidents like wall and roof collapses and drownings.
The Chief Minister of Sindh province, Murad Ali Shah, ordered schools be used to accommodate displaced families.

Published 28 Aug, 2020 06:12pm

Torrential rains claimed lives of 80 people in Sindh, reveals CM Murad

Chief minister says 47 people died in Karachi during recent monsoon spell

Updated 28 Aug, 2020 06:19pm

Europe

Russia releases secret footage of 1961 'Tsar Bomba' hydrogen blast

The hydrogen bomb, which carried the force of 50 million tons of conventional explosives, was detonated in a test in October 1961.
The footage shows an immense fireball and a 60-km high mushroom cloud rising after the explosion lit up the sky.

Published 28 Aug, 2020 06:04pm

Commodities

Copper hits fresh 2-year high on weak dollar, falling stocks

Inventories of copper are drawing down at a decent pace and the fundamentals are looking quite good.
There were also signs of a high level of systematic buying and high frequency trading.

Published 28 Aug, 2020 06:01pm

Europe

France to set aside 15bn euros to boost innovation, relocation: Macron

In the recovery plan that will be worth a bit more than 100 billion euros, there will be 15 billion euros for innovation and relocation.
Macron said the stimulus plan due to be announced next Thursday would be a 10-year programme designed to make a stronger France in 2030.

Published 28 Aug, 2020 05:58pm

Stocks

Sri Lankan shares end lower as consumer, telecom losses weigh

The benchmark CSE All Share Index closed 0.23% lower at 5,320.87. The index posted a weekly loss of 1.14%
Trading volume on the CSE All Share Index fell to 40.8 million, from 50.8 million in the previous session.

Published 28 Aug, 2020 05:55pm

Energy

US natgas futures jump to fresh 9-month high following contract roll

The remnants of Hurricane Laura, which smashed into the Gulf Coast as a major Category 4 storm early Thursday,
For the week, the front-month was up 10%. That puts the contract up for a fourth week in a row for the first time since May 2019,

Published 28 Aug, 2020 05:53pm

Commodities

Arabica coffee prices climb, sugar and cocoa also up

December arabica coffee was up 2.8 cents, or 2.36%, at $1.2515 per lb, climbing towards a 4-1/2 month peak of $1.2890 set on Aug. 5.
October raw sugar was up 0.04 cents, or 0.3%, at 12.81 cents per lb.

Updated 28 Aug, 2020 05:53pm

Karachi to receive another spell of heavy rain over weekend, warns Met office

Met department says a new weather system will enter the city on August 29 which will bring more rains and it will continue till August 31

Updated 28 Aug, 2020 05:48pm

Sports

Chelsea sign PSG defender Tiago Silva

Brazilian central defender’s time as a Paris Saint-German (PSG) came to an end at the Champions League final at the weekend.

Published 28 Aug, 2020 04:57pm

Companies

Boeing pulls eight 787 jets from service over structural issue

This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure.
Boeing confirmed to The Air Current that it had identified two distinct manufacturing issues in the fuselage sections of certain 787 jets.

Published 28 Aug, 2020 04:59pm

Europe

Merkel says world needs to do more to combat climate change

At a news conference, she said the European Union needed to adjust the climate goals it has set for 2030.
The European Commission will next month propose a new 2030 climate target for a 50% or 55% emissions reduction against 1990 levels.

Published 28 Aug, 2020 04:58pm

Stocks

Indian shares jump after Fed shift, banks surge

The NSE Nifty 50 index settled 0.76% higher at 11,647.60, while the S&P BSE Sensex closed up 0.90% at 39,467.31.
The top five boosts to the Nifty 50 were all banks. The Nifty banking index ended 3.9% higher and with a 10% gain.

Published 28 Aug, 2020 04:52pm

Companies

Moderna in talks with Japan to supply 40mn doses of COVID-19 vaccine

The vaccine candidate, mRNA-1273, would be distributed in Japan by Takeda Pharmaceutical Co Ltd, beginning in the first half of 2021.
Japan has already signed agreements with other drugmakers such as Pfizer Inc and AstraZeneca PLC, as well as local ones like Shionogi & Co., to obtain 521 million doses.

Updated 28 Aug, 2020 04:55pm

Exchange

China's BoCom posts first H1 profit fall since listing as bad debts rise

BoCom's H1 profit 36.5bn yuan vs 42.75bn year-ago.
Bad loans rise.
NIM 1.53% at end June vs 1.55% at end March.

Published 28 Aug, 2020 04:49pm

Companies

Bangladesh's Beximco in coronavirus vaccine pact with India's Serum Institute

The deal comes after Bangladesh said this month it was ready to hold trials of candidate vaccines developed by India as both countries seek to curb the spread of the virus.
Beximco will also be the exclusive supplier for Bangladesh for a vaccine developed by the Serum Institute, it said.

Published 28 Aug, 2020 04:46pm

Sports

Matic calls time on Serbia career

"Other than saying it was time for younger players to take over, Matic did not state any other specific reasons for quitting," said Matijasevic.
"We've got several players who are over the hill and we realise that some of them may call time on their international careers in the next year or two."

Published 28 Aug, 2020 04:42pm

Forex

Dollar extends losses; yen hits new highs after Abe resignation

Japanese stocks tumbled and the safe-haven yen erased some recent losses overnight when it was reported that Abe,
Almost certainly, it's not a justified response but you'd understand the psychological knee-jerk reaction is sort of based on that line of thinking.

Published 28 Aug, 2020 04:39pm

Money & Banking

Malaysia's CIMB posts 82pc Q2 profit drop, ups provisions

Q2 provisions up 347% to 1.5bn rgt, to stay elevated.
Provisioning outside Malaysia related to leisure & hospitality.
2020 NIM seen squeezed 10-15 bps.
Expects continued weaker performance for rest of 2020.

Published 28 Aug, 2020 04:35pm

World

Levitating stocks unlikely to help Fed's economic equality efforts

In the fight against the economic impacts of coronavirus, the Fed has unleashed unprecedented support - zero-bound rates and asset buying.
Powell announced a new monetary policy strategy that would allow the central bank to let inflation.

Published 28 Aug, 2020 04:22pm

Technology

TikTok influencers say 'everybody is going to take a big hit'

Kids Next Door LA is one of a number of TikTok houses set up around the US where teens live.
For two to five months, maybe, everybody is going to take a big hit. Everyone is going to lose a stream of revenue.

Published 28 Aug, 2020 04:20pm

Money & Banking

Banks eye layoffs as short-term crisis ends, long-term costs emerge

Compared with April projections, bank economists and executives expect the US economy to take longer to recover.
No question, layoffs (will) come across the board for all the banks," said Barry Schwartz, chief investment officer at Toronto-based Baskin Wealth Management.

Published 28 Aug, 2020 04:17pm

Mobile phone service badly affected after heavy rains in Karachi

Different telecom services providers are facing outages as several feeders of the K-electric tripped after Thursday's rain played havoc in the city

Published 28 Aug, 2020 04:19pm

USA

Legal hurdles, pandemic would bedevil Biden efforts to undo Trump immigration overhaul

They said Biden's efforts also would be slowed by legal hurdles, political pressure to keep some measures. * He said Biden was committed to reversing what he called Trump's "horrific" immigration policies.

Published 28 Aug, 2020 04:13pm

Business & Finance

Defying trade tensions, Chinese buyers snap up Indian steel

Traders said reduced prices had driven the purchases as Indian sellers sought to get rid of a surplus generated by the impact of COVID-19 on domestic demand.
It was unclear whether the sales broke any trade rules, but the China Iron and Steel Association said in a statement it was monitoring them.

Published 28 Aug, 2020 04:04pm

Business & Finance

OGDCL discovers Hydrocarbon reserves at Kohat

The Joint Venture of Baratai Block comprising OGDCL as operator (97.5%) and Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) (2.5%) has discovered Gas & Condensate from its exploratory Well Siab-1, announced the company on Friday.

Published 28 Aug, 2020 04:08pm

Business & Finance

FBR directs officials to curb smuggling of food items

The Prime Minister has taken a serious notice of the shortage of food items i.e. wheat/wheat flour, sugar, maize, maida, poultry, fresh fruits, vegetables, and livestock, etc. in the country.

Published 28 Aug, 2020 03:01pm

Japanese PM Abe resigns over worsening health

“I apologize from the bottom of my heart I am leaving the post in the midst of various policies and coronavirus," he said.

Published 28 Aug, 2020 02:53pm

Industry

Most parts of Karachi suffers power outages as KE urges public to cooperate

24 hours have passed since the power outage in Quaidabad, Gulshan-e-Bunir, Gulshan-e-Hadid, and Gulshan-e-Maymar, power is off in Gulistan-e-Jauhar Block 19, Gulshan-e-Iqbal 13D, 13C as well.

Updated 28 Aug, 2020 02:49pm

Sports

Henderson expects Liverpool to make statement against Arsenal

Premier League and FA Cup winners will face each other in the Community Shield on Saturday

Published 28 Aug, 2020 02:08pm

Sports

Newell's fans await hero Messi, but maybe not just yet

Argentine announced he wanted to leave Barcelona after spending his entire career at the Catalan club.

Published 28 Aug, 2020 02:01pm

Sports

Kevin O'Brien smashes own car window with a six

All-rounder struck eight sixes in a whirlwind 82 off just 37 balls.

Published 28 Aug, 2020 01:50pm

Sports

PCB names squads for domestic season 2020-21

Complete squads attached; captains and final lineups to be announced closer to events proper, which include National T20 Cup, Quaid-e-Azam Trophy and Pakistan Cup One-Day Tournament.

Published 28 Aug, 2020 01:48pm

Exchange

Pakistan's largest steel manufacturer incorporates IlL Construction Solutions

The company was of the view that this investment would ultimately result in conserving foreign exchange, bring forth economic growth and sustainability.

Published 28 Aug, 2020 12:57pm

Technology

Pakistan becomes first South Asian country to switch to electric buses

In the first phase, Skywell Automobiles will provide its electric buses for the Pakistan market.

Published 28 Aug, 2020 12:35pm

'Feel embarrassed': PM says letting Nawaz Sharif leave was a mistake

"Now Nawaz has started doing politics from there as well and, when you see him, it seems like there is nothing wrong with him," PM said.

Updated 28 Aug, 2020 12:17pm

Pakistan

PTA approaches YouTube to immediately block vulgar content in Pakistan

PTA said that it has approached YouTube to immediately ensure blocking of objectionable content and to prevent the usage of its platform for disseminating such content.

Published 28 Aug, 2020 11:40am

Technology

Walmart joins Microsoft bid for TikTok as CEO of social media app quits

CEO Kevin Mayer, a high-profile former Disney executive, is leaving three months after joining TikTok, in the middle of negotiations to sell the Chinese-owned short-form video app’s U.S. operations to Microsoft Corp or Oracle Corp.

Published 28 Aug, 2020 11:26am

Any help requested will be provided on emergency basis: PM tells Murad Ali

The PM said he is personally monitoring the relief and rescue operations.

Updated 28 Aug, 2020 10:40am

BR Research

How pension turned into a bomb

Federal, military, and provincial governments pension expense is growing out of the bound; and almost all the ...

Published 28 Aug, 2020 09:15am

Exchange

Habib Metropolitan Bank makes good strides

Banks were supposed to have it rough in the second quarter owing to the pandemic. Most banks have shown immense...

Published 28 Aug, 2020 09:11am

BR Research

POL – 4Q drag earnings

Impact of COVID-19 and the lockdown, as well as the oil prices situation have been considered key reasons for ...

Published 28 Aug, 2020 09:10am

BR Research

Interview with Najeeb Ahmad, Country Managing Director - Hitachi ABB Power Grids Pakistan

Stronger, smarter, and greener power grid for a sustainable energy Najeeb Ahmad was appointed as Country Managing...

Published 28 Aug, 2020 09:09am

Business & Finance

Aerospace giant Rolls-Royce logs £5.4bn H1 loss on virus

LONDON: British aerospace giant Rolls-Royce on Thursday logged a vast net loss for the first half of 2020 as the...

Updated 28 Aug, 2020 04:15am

Presidential form of govt: Petitioner urges SC to direct PM to hold referendum

ISLAMABAD: The Supreme Court has been urged to direct the prime minister to hold a referendum whether or not people...

Updated 28 Aug, 2020 04:13am

Exchange

Filing of AML/CFT Risk Assessment: SECP grants 15-day extension to brokers, others

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted 15 days extension in filing of...

Updated 28 Aug, 2020 04:13am

Wapda hydel generation surpasses 8500MW for first time

LAHORE: Electricity generation of hydel power stations owned and operated by Pakistan Water and Power Development...

Updated 28 Aug, 2020 04:13am

Pakistan

Death of animals at Marghazar Zoo: IHC grants time for submission of reply

ISLAMABAD: The Islamabad High Court (IHC) on Thursday granted time to Minister of State for Climate Change Zartaj ...

Updated 28 Aug, 2020 04:13am

Pakistan

Reopening of educational institutes: Final decision will be taken with consensus on Sept 7: minister

ISLAMABAD: Federal Minister for Education Shafqat Mahmood on Thursday said that the final decision regarding the...

Updated 28 Aug, 2020 04:13am

Pakistan

Rain-hit areas of Sindh: Bilawal invites all leaders to join relief, rescue operation

ISLAMABAD: Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari Thursday urged all the political leaders to...

Updated 28 Aug, 2020 04:13am

Pakistan

Damaged houses in operation areas of Fata: NA body for making payments to victims

ISLAMABAD: The National Assembly Standing Committee on States and Frontier Regions (SAFRON) has directed the...

Updated 28 Aug, 2020 04:13am

Exchange

‘Political solution’ only way to establish peace in Afghanistan: Qureshi

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi said on Thursday that all parties agreed that a “political...

Updated 28 Aug, 2020 04:11am

Pakistan

11 Pakistanis in India: New Delhi must share findings of deaths: FO

ISLAMABAD: Islamabad on Thursday demanded that New Delhi shares the initial findings of the deaths of 11 Pakistani...

Updated 28 Aug, 2020 04:11am

Pakistan

Shanghai Electric Thar Block-I: Asim Bajwa announces over 1100 jobs

ISLAMABAD: Chairman China-Pakistan Economic Corridor Authority, Lt-General Asim Saleem Bajwa (retired) on Thursday...

Updated 28 Aug, 2020 04:11am

Pakistan

‘Non-formal education will also be handed over to provinces from June 2021’

ISLAMABAD: Federal Minister for Education Shafqat Mehmood informed the Senate Functional Committee on Problems of...

Updated 28 Aug, 2020 04:11am

Pakistan

SHC dismisses plea against creation of Keamari district

KARACHI: The Sindh High Court (SHC) on Thursday dismissed a plea by Pakistan Tehreek-e-Insaf (PTI) MNA Aamir Liaquat...

Updated 28 Aug, 2020 04:11am

Pakistan

Murad terms heavy rainfall a ‘disaster’, vows to help people

KARACHI: Sindh Chief Minister Syed Murad Ali Shah has directed the commissioner of Karachi to coordinate with the...

Updated 28 Aug, 2020 04:11am

Pakistan

Ministry’s top officials avoid Senate body meeting

ISLAMABAD: The members of Senate Standing Committee on National Health Services, Regulations and Coordination were...

Updated 28 Aug, 2020 04:11am

Pakistan

‘Illegal’ appointments in PIA: Hearing adjourned till Sept 2

ISLAMABAD: The Accountability Court on Thursday adjourned the hearing of “illegal” appointments in the Pakistan...

Updated 28 Aug, 2020 04:11am

Pakistan

Countrywide tally of fatalities by Covid-19 reach 6,274

ISLAMABAD: The countrywide tally of fatalities from coronavirus has reached 6,274, as six deaths were reported ...

Updated 28 Aug, 2020 04:10am

Pakistan

Cashless banking for 7m women Ehsaas beneficiaries: SAPM supervises test run of Mobile Wallets

ISLAMABAD: Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar ...

Updated 28 Aug, 2020 04:10am

World

Search for bodies as Afghan floods kill more than 160

CHARIKAR: Rescue workers were searching Thursday for bodies in the debris of collapsed houses after flash floods...

Updated 28 Aug, 2020 04:01am

Pakistan

Non-bailable arrest warrants of Salman Shahbaz, others issued

LAHORE: An accountability court here Thursday issued non-bailable arrest warrants of Salman Shahbaz son of leader of...

Updated 28 Aug, 2020 03:59am

Pakistan

One year on, Punjab govt yet to appoint PCSW chairperson

LAHORE: Despite lapse of over an year, the Punjab government has yet to appoint chairperson of the Punjab Commission...

Updated 28 Aug, 2020 03:59am

Pakistan

Farmers urge govts to take steps to control spread of pest

LAHORE: The maize farmers in Punjab have urged both the federal and provincial agriculture ministries to take steps...

Updated 28 Aug, 2020 03:59am

World

Pence warns US voters: ‘You won’t be safe’ under Joe Biden

BALTIMORE: US vice president Mike Pence took center stage at the Republican convention Wednesday to warn voters they...

Updated 28 Aug, 2020 03:58am

World

Covid-19 contacts should be tested, regardless of symptoms: WHO

GENEVA: People exposed to someone diagnosed with coronavirus should be tested whether they show symptoms or not, the...

Updated 28 Aug, 2020 03:57am

Pakistan

Governor endorses PU VC’s initiatives

LAHORE: The Governor/ Chancellor of Punjab University Chaudhry Muhammad Sarwar on Thursday chaired 355th meeting of...

Updated 28 Aug, 2020 03:54am

Pakistan

The Weather

KARACHI: The weather report on Thursday (August 27, 2020) and the forecast for Friday (August 28, 2020)....

Updated 28 Aug, 2020 03:54am

Stocks

Dubai leads most of Gulf lower; Abu Dhabi up

DUBAI: Most major bourses in the Gulf ended lower on Thursday, driven down by losses in financial shares, with Dubai...

Updated 28 Aug, 2020 03:52am

Stocks

Cyber attack halts New Zealand stock market for third straight day

WELLINGTON: Cyber attacks forced New Zealand’s stock exchange to halt trading Thursday for the third time in as...

Updated 28 Aug, 2020 03:52am

Stocks

PSX operates normally despite heavy rains

KARACHI: As the metropolis underwent its fifth spell of heavy downpour and witnessed lashing rains on Thursday, the...

Updated 28 Aug, 2020 03:52am

Energy

Turkey extends gas exploration in Mediterranean crisis

ISTANBUL: Turkey on Thursday extended its controversial Mediterranean gas exploration mission and ordered new navy...

Updated 28 Aug, 2020 03:50am

Energy

US natural gas futures slip as LNG exports drop

NEW YORK: US natural gas futures slipped on Wednesday as liquefied natural gas (LNG) exports dropped to an 18-month...

Updated 28 Aug, 2020 03:50am

Energy

Asia's naphtha cracks fall

SINGAPORE: Asia's naphtha crack eased 2% to a two-session low of $72.48 a tonne while gasoline margin hit a...

Updated 28 Aug, 2020 03:50am

Commodities

CBOT wheat futures higher

CHICAGO: Chicago Board of Trade soft red winter wheat futures rose on Wednesday, recovering from early weakness ...

Updated 28 Aug, 2020 03:50am

Commodities

China's July net gold imports up

HONG KONG: Net gold imports into China via Hong Kong crawled up for a second straight month in July but remained...

Updated 28 Aug, 2020 03:50am

Commodities

PMEX daily trading report

KARACHI: On Wednesday, PMEX traded value of metals, energy, COTS/FX and indices was recorded at PKR 9.055 billion ...

Updated 28 Aug, 2020 03:50am

Business & Finance

WPP tumbles into loss on virus

LONDON: British advertising giant WPP on Thursday posted a huge first-half loss on asset writedowns linked to the...

Updated 28 Aug, 2020 03:38am

Business & Finance

Switzerland plunges into recession with historic slump

ZURICH: Switzerland has plunged into recession after the coronavirus pandemic caused a “historic” 8.2-percent...

Updated 28 Aug, 2020 03:34am

Exchange

Postal Life Insurance Company: SECP issues life insurer license

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted licence of life insurance to Postal...

Updated 28 Aug, 2020 03:34am

Business & Finance

6th reforms cycle for DB report 2022: WB official praises efforts of Sindh and Punjab govts

ISLAMABAD: The Board of Investment (BOI) in collaboration with the World Bank, the International Finance Corporation...

Updated 28 Aug, 2020 03:34am

World

US officer who shot black man named, as NBA leads sport boycott

KENOSHA: The white police officer who shot black 29-year-old Jacob Blake in the back, triggering a new wave of...

Updated 28 Aug, 2020 03:29am

World

Russia blames US for Syria confrontation

WASHINGTON: Russia on Thursday blamed the United States for a tense confrontation in Syria in which Russian military...

Updated 28 Aug, 2020 03:29am

World

NATO chief urges Russia not to meddle in Belarus crisis

BERLIN: NATO chief Jens Stoltenberg on Thursday called on Russia not to meddle in the crisis engulfing Belarus...

Updated 28 Aug, 2020 03:29am

World

Greece ratifies Mediterranean maritime border pact with Egypt

ATHENS: Greece on Thursday ratified a maritime border pact with Egypt, which has angered Turkey at a time of...

Updated 28 Aug, 2020 03:29am

Life & Style

TikTok chief Kevin Mayer quits company

LOS ANGELES: TikTok CEO Kevin Mayer said Wednesday he has quit the company as tensions soar between Washington and...

Updated 28 Aug, 2020 03:25am

Aamir Khan under fire over China, Turkey links

NEW DELHI: Bollywood star Aamir Khan has long been a hate figure for India's Hindu far-right, but now they have a ...

Updated 28 Aug, 2020 03:22am

Wheat import value: Sindh govt has not yet waived excise and taxation charges

KARACHI: The wheat importers are in trouble as the first wheat consignment has reached Pakistan, but the Sindh...

Updated 28 Aug, 2020 03:22am

PTB services rules: Amendments approved by Cabinet

ISLAMABAD: The federal cabinet has approved amendments in Services Rules of Pakistan Tobacco Board (PTB) with a view...

Updated 28 Aug, 2020 03:22am

Afghan head of peace process hopeful of talks with Taliban ‘next week’

KABUL: Afghanistan's government and the Taliban will next week begin long-delayed peace talks aimed at ending the ...

Updated 28 Aug, 2020 03:21am

Monsoon 2020: Around 100 people die across country so far: NDMA

ISLAMABAD: Around 100 people have died so far during the monsoon 2020, while flows are likely to increase in all the...

Updated 28 Aug, 2020 03:19am

NAB files proposed rules

ISLAMABAD: The National Accountability Bureau (NAB) in pursuance of the Supreme Court order dated 23rd July 2020, on...

Updated 28 Aug, 2020 03:19am

August rains flood Karachi, shatter records

KARACHI: Torrential rains lashed the country’s financial capital of Karachi on Thursday, causing widespread...

Updated 28 Aug, 2020 03:19am

Torrential rains claim 11 more lives

KARACHI: At least eleven more people lost their lives as yet another devastating spell of rain pounded Karachi on...

Updated 28 Aug, 2020 03:19am

Army establishes emergency centre

ISLAMABAD: A flood emergency control centre has been established at Karachi to assist flood victims. In an update ...

Updated 28 Aug, 2020 03:15am

New Zealand mosque gunman sentenced to life without parole

CHRISTCHURCH, (New Zealand): New Zealand mosque gunman Brenton Tarrant was sentenced to life in prison without ...

Updated 28 Aug, 2020 03:14am

Adjustment of fuel charges: ECC takes no formal decision

ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) of the Cabinet on Thursday did not take a formal...

Updated 28 Aug, 2020 03:11am

FBR issues new rule: online integration of businesses

ISLAMABAD: The Federal Board of Revenue (FBR) has made it compulsory for the different categories of integrated...

Updated 28 Aug, 2020 03:09am

PM says pension burden becoming unsustainable

ISLAMABAD: Prime Minister Imran Khan has said that the burden of pensions was fast becoming unsustainable, ...

Updated 28 Aug, 2020 03:06am

Govt moves SC against SHC verdict on sugar mills’ plea

ISLAMABAD: The federal government on Thursday approached the apex court against the Sindh High Court’s (SHC’s)...

Updated 28 Aug, 2020 03:06am

Currency

In landmark shift, Fed changes approach to inflation, labour market

NEW YORK: The Federal Reserve on Thursday rolled out a sweeping rewrite of its approach to its goals of maximum...

Updated 28 Aug, 2020 03:04am

Opinion

Can the US Fed take on racial inequality?

ARTICLE: Massive protests against racism have gripped the United States in recent months, and prompted many ...