News Archives for Latest - 2020-09-01

Business & Finance

Toyota US August sales fall 23pc as pandemic weighs on inventory

TrueCar Inc subsidiary ALG said on Tuesday that the average transaction price for vehicles was up 3.9pc in August versus the same month in 2019.

Published 01 Sep, 2020 11:46pm

Business & Finance

Rolls-Royce says demand for luxury cars is recovering

Torsten Muller-Otvos said the demand meant Rolls-Royce Holdings Plc was the first car company to resume car production in the United Kingdom on May 4.

Published 01 Sep, 2020 11:43pm

Business & Finance

Trump says he will help struggling US airlines

Airline shares jumped on Trump's comments but then gave up some gains. American Airlines was up 1.5pc, while United Airlines was up 0.5pc in early afternoon trading.

Published 01 Sep, 2020 11:40pm

Business & Finance

Tesla launches $5bn capital raise after share surge

Tesla shares, which rose about 8pc in early premarket trading, retreated to trade about 3pc higher on the day after the news.

Published 01 Sep, 2020 11:37pm

Currency

US factory activity accelerates as orders jump to more than 16-1/2-year high

Factory activity is being driven by demand for goods used at home like electronics while capital investment remains weak.

Published 01 Sep, 2020 11:30pm

Africa

Zimbabwe to reopen schools from Sept. 14 for students taking final exams

"The ministry (of education) is working closely with other ministries and stakeholders to guarantee the safety of pupils and staff during the examinations period," the government said.

Published 01 Sep, 2020 11:27pm

Pakistan

Governors of Sindh, Punjab distribute ration bags among rain-affected people

The Sindh Governor thanked the Governor of Punjab on the occasion and said that he was grateful to the people of Punjab for their support, said a statement on Tuesday.

Published 01 Sep, 2020 11:15pm

Pakistan

Saudi envoy, Omar review petroleum & energy sector projects

Omar Ayub apprised the envoy about investment-friendly policies, introduced by current government in diverse fields for development and economic growth of Pakistan, said a news release.

Published 01 Sep, 2020 11:08pm

Pakistan

COVID-19 active cases reach 8,881 across country: NCOC

According to NCOC official, the COVID-19 caseload in Pakistan had reached 296,149 with only 300 new cases reported during last 24 hours.

Published 01 Sep, 2020 11:06pm

Pakistan

PM to visit Karachi on Friday to announce projects: Shibli Faraz

He said people of Karachi were passing through a difficult time and all our sympathies were with them, adding Karachi was a unique city and an economic hub of the country.

Published 01 Sep, 2020 11:03pm

Pakistan

PM for early completion of Lahore's Ravi Riverfront project on int’l construction standards

The prime minister issued directive to monitor the project on daily basis and remove administrative impediments in way of its smooth implementation.

Published 01 Sep, 2020 11:01pm

Pakistan

Ehsaas Registration Desks restored in 15 districts: Dr. Nishtar

In a tweet, Dr. Nishtar said the desks were suspended due to the COVID-19 while reopened keeping in view the improved situation after substantial reduction in cases across the country.

Published 01 Sep, 2020 11:00pm

Pakistan

CMOs to be fully restored in Karachi next few days: PTA

After restoration of closed services, teams of CMOs were continuously working to reinstate sites affected because of accumulated rain water.

Published 01 Sep, 2020 10:58pm

Pakistan

Nawaz's lawyer report self-evident of his good health: Ch Fawad

In a tweet, he said that coronavirus had been termed as the reason for not starting Nawaz Sharif's medical treatment.

Published 01 Sep, 2020 10:56pm

Pakistan

Govt agrees to revises rates of five zero-rated industries: Razak Dawood

He said that all these matters were important and would be examined with the relevant stakeholders to bring them to a closure.

Published 01 Sep, 2020 10:55pm

Pakistan

CM Mahmood personally monitoring flood situation

He said that all members of the cabinet are tasked to liaise with administration and relief department to ensure best possible service of the people in their areas during this crisis.

Published 01 Sep, 2020 10:53pm

Pakistan

Opposition taking interest in NAB amendment bill to avoid corruption cases: Shibli

The people were confronted with multiple challenges due to lethargic attitude of PPP leaders who had been running the affairs of Karachi for the last twelve years, the minister stated.

Published 01 Sep, 2020 10:52pm

Pakistan

CM visits relief camps set up for rain-hit people in Umerkot

He expressed these views while visiting relief camps set up for rain-hit people in Samaaro, Kunri and Umerkot.

Published 01 Sep, 2020 10:50pm

Pakistan

Govt to launch mega projects in Karachi soon: Vawda

He said the Pakistan Peoples’ Party had been ruling in Sindh since 12 years but it was totally exposed and failed in delivering for the welfare of people of the province.

Published 01 Sep, 2020 10:49pm

Pakistan

SNGPL disconnects gas supply of various areas to prevent gas loss due to rain

According to SNGPL press release issued here, gas supply to Talagang city and villages including Naka Kahoot, Dharabi, Bekhari, Balkasar, Mureed village, Chakora village has been cut off.

Published 01 Sep, 2020 10:47pm

Exchange

Rupee gains 61 paisas against dollar

The State Bank of Pakistan reported that in interbank trading, the price of euro appreciated by 61 paisas and closed at Rs. 198.26 against the last day’s trading of Rs. 197.65.

Published 01 Sep, 2020 10:32pm

Commodities

Chinese data helps propel copper to 2-year highs

LME copper stocks fall to lowest since Dec 2005.
Premium for cash copper over 3-month narrows.

Published 01 Sep, 2020 09:35pm

Commodities

Peru copper mining almost 'completely recovered' from pandemic

Peru's copper production, however, fell 2.2% in July, compared with the same period a year earlier, to 198,796 tons.
The Peruvian government decreed a quarantine due to the coronavirus in mid-March, with special restrictions on mining activity.

Published 01 Sep, 2020 09:31pm

Money & Banking

Bank of Spain governor sees double-digit GDP growth in third quarter

"It is likely that we will see double-digit growth rates in the third quarter.
The Spanish economy was one of the worst-hit by the pandemic and subsequent lockdowns in Europe.

Published 01 Sep, 2020 09:25pm

Industry

AT&T looks to sell Xandr ad unit

The talks about selling Xandr are in the early stages and may not necessarily result in a sale. The company intends to keep Crunchyroll.
The Wall Street Journal first reported the potential sale earlier on Tuesday.

Updated 01 Sep, 2020 09:25pm

Energy

Oil rises on strong factory activity and forecast of a crude drawdown

US manufacturing activity at 19-month high in August.
Dollar dumped on rate outlook, lowest in more than two years.
POLL-US crude stocks seen slipping for the sixth straight week.
Reuters poll shows rise in Brent 2020 average to $42.75/bbl.

Published 01 Sep, 2020 08:44pm

Industry

Toyota's US sales fall 23pc in August

The Japanese automaker said its sales in August fell 22.7% to 191,841 units from the same month in 2019.
The recovery could be threatened by a renewed COVID-19 surge, which is weighing on demand.

Published 01 Sep, 2020 08:27pm

USA

US police shoot and kill another black man

The latest killing came as US President was headed for Kenosha where police shot Jacob Blake.

Published 01 Sep, 2020 08:42pm

Business & Finance

Walmart unveils subscription program to challenge Amazon

Last month, Walmart reported higher quarterly earnings, due partly to a 97 percent surge in US e-commerce sales.

Published 01 Sep, 2020 08:38pm

Europe

Greece delays school reopening to September 14

As an additional safety measure, primary school children would also be provided with a free water bottle each, education minister said.

Published 01 Sep, 2020 08:36pm

Cabinet approves cultivation, medical use of Hemp, tweets Fawad

Minister says it is a landmark decision which will allow Pakistan access to billions of dollar cannabidiol market

Published 01 Sep, 2020 08:26pm

USA

Trump heads uninvited to Kenosha to push law and order message

Kenosha as a symbol of institutional racism leading to deadly encounters between officers and black suspects.

Published 01 Sep, 2020 08:33pm

Africa

EU top diplomat in Libya to push for peace talks

Haftar launched an offensive to seize Tripoli in April 2019, but was beaten back by pro-GNA forces.

Published 01 Sep, 2020 08:28pm

Commodities

Gold gains on weak dollar; but off 2-week high on robust US data

US manufacturing activity at 19-month high in August.
Silver rises to three-week high.

Published 01 Sep, 2020 08:15pm

Europe

Macron to return to Lebanon in December: French presidency

Macron has taken centre stage in an international push for long-overdue reforms.

Published 01 Sep, 2020 08:26pm

Stocks

Wall Street advances as US factory activity hits 19-month high

Apple rises on reports of 75 mln 5G iPhones orders.
Zoom surges after raising annual revenue forecast.
Walmart advances after unveiling membership plan details.
Indexes up: Dow 0.01%, S&P 0.19%, Nasdaq 0.84%.

Published 01 Sep, 2020 08:05pm

Commodities

Arabica coffee hits eight-month peak as Brazilian real firms

December arabica coffee rose 0.5 cents, or 0.4%, to $1.2950 per lb, having touched its highest since Jan. 2 at $1.3270.
November robusta coffee rose $26, or 1.8%, to $1,455 a tonne.

Published 01 Sep, 2020 07:51pm

Stocks

TSX rises as August factory growth hits 2-year high

The IHS Markit Canada Manufacturing Purchasing Managers' index (PMI) rose to a seasonally adjusted 55.1 in August.
The energy sector climbed 1% as US crude prices were up 1.2% a barrel, while Brent crude added 1.4%.

Published 01 Sep, 2020 07:48pm

Energy

US natgas falls on lower cooling demand, LNG exports

Hurricane Laura took out a lot of demand from the Texas-Louisiana border right through the center of the country and it brought some cooler weather behind it.
Demand in the Lower 48 states is expected to decline as the weather turns cooler, falling from 85.3 bcfd this week to 83.3 bcfd in the next.

Published 01 Sep, 2020 07:45pm

Energy

Power demand pushes UAE August oil output above OPEC+ quota

The output exceeds the country's quota under the OPEC+ supply pact by about 100,000 bpd.
The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+.

Published 01 Sep, 2020 07:26pm

USA

Canadian factory sector growth jumps to 2-year high in August

The IHS Markit Canada Manufacturing Purchasing Managers' index (PMI) rose to a seasonally adjusted 55.1 in August.
Production and order book volumes both expanded at the fastest pace in two years.

Published 01 Sep, 2020 07:24pm

Europe

Norway's parliament hit by cyber attack

Our analysis shows that various quantities of data were downloaded," the parliament said in a statement.
The Norwegian National Security Authority (NSA) assisted in countering the attack. "We have been involved for a few days."

Published 01 Sep, 2020 07:23pm

Forex

Canadian dollar adds to multi-month rally as oil prices climb

Canadian dollar rises 0.1% against the greenback.
Loonie touches its strongest level since Jan. 8 at 1.2994.
Price of US oil increases 1.1%.
Canadian bond yields rise across much of the curve.

Published 01 Sep, 2020 07:21pm

Forex

Rouble firms on higher risk sentiment and oil prices

The rouble was 0.7% stronger against the dollar at 73.56 by 1318 GMT and had gained 0.2% to 88.23 versus the euro.
The Russian market is expected to rebound today supported by a weakening US dollar, which is providing a tailwind to both the oil price and the rouble,

Published 01 Sep, 2020 07:19pm

World

Kushner hopes another Arab state normalises Israel ties within ‘months’

Israel's neighbours Egypt and Jordan reached peace deals with it decades ago, but other Arab states have long held the position.
The UAE-Israel deal was welcomed by some Gulf countries but has been met by overwhelming Palestinian opposition.

Published 01 Sep, 2020 07:15pm

Pakistan

Gold price increase Rs300, sold at Rs117,700 per tola

The price of per tola silver remained stagnant at Rs1400.

Published 01 Sep, 2020 07:14pm

Forex

Indian central bank's loosening of rupee reins likely to aid more gains

High retail inflation prompting RBI to hold off FX intervention.
RBI likely to opt for supporting bonds over rupee in near-term.
Rupee may trade in 72-74/dollar range over 3-6 months.

Published 01 Sep, 2020 07:14pm

Pakistan

Pakistan spends over $ 1235 million on import of travel services during FY 2019-20

Imports of health related expenditure and education expenditure decreased by 60.73 percent and 14.94 percent respectively.

Published 01 Sep, 2020 07:13pm

Forex

Nigeria naira firms 9.7pc on black market on plans to sell FX to currency operators

The central bank said in a circular on Thursday that it would commence forex sales to retail currency operators from Aug. 31.
The currency, which had weakened to a low of 480 naira on the black market in recent months, firmed from its previous trade of 477 naira.

Published 01 Sep, 2020 07:11pm

South Asia

India accuses China of fresh provocation during military talks over border

Even as the ground commanders of the two sides were in discussions to de-escalate the situation.
Due to the timely defensive action, the Indian side was able to prevent these attempts to unilaterally alter the status quo.

Published 01 Sep, 2020 07:09pm

Sports

Rakitic rejoins Sevilla from Barcelona

The 32-year-old penned a four-year-deal with the reigning Europa League champions.

Updated 01 Sep, 2020 07:09pm

Technology

Samsung's new foldable phone is its biggest

Unveiled on Tuesday, the Galaxy Z Fold2's screen measures 7.6 inches (19.3 cm) when unfolded.
The new model, however, is facing a tough market with economic uncertainties created by the coronavirus pandemic cooling demand for high-end smartphones.

Published 01 Sep, 2020 07:07pm

Europe

'Follow me on LinkedIn,' UK PM Johnson tells businesses

Businesses of all sizes are vital to this country and I want to connect more directly with you as we build back better, stronger than ever before.
Johnson has already used Facebook to broadcast question and answer sessions with the public.

Published 01 Sep, 2020 06:48pm

Sports

Raina left IPL after relatives killed in attack at home

According to Indian police, Raina's uncle and his family were attacked at night while they slept on their house.

Published 01 Sep, 2020 07:03pm

Middle East

Iran nuclear deal parties meet amid US pressure

IAEA head had travelled to Iran on his first trip since taking up the top post last year and after months of calling for access.

Published 01 Sep, 2020 06:59pm

Sports

Kohli says didn't miss cricket much during long coronavirus break

Kohli will remain in a bio-bubble with his Bangalore teammates throughout the 53-day tournament.

Published 01 Sep, 2020 06:57pm

Stocks

Most major Gulf stocks gain; blue-chip selloff dents Egypt

Dubai plans comeback to debt markets amid economic downturn.
Emaar The Economic City surges on subscription agreement.
25 of thirty stocks decline in Egypt's blue-chip index.

Published 01 Sep, 2020 06:46pm

USA

Brazil economy back to 2009 size after record 9.7pc slump in second quarter

The pandemic triggered a 9.7% fall in gross domestic product from the prior quarter, government statistics agency IBGE.
Household consumption, which accounts for two-thirds of all economic activity in Brazil, was a particularly heavy drag, IBGE said.

Published 01 Sep, 2020 06:43pm

Technology

Facebook to block news on Australian sites after new law, riling lawmakers

Proposed law requires revenue-share between tech and media firms.
Facebook says proposal misunderstands 'dynamics of the internet'.
Google has said law would put free search at risk.

Published 01 Sep, 2020 06:41pm

Financial

Yields rise ahead of US manufacturing data

The benchmark 10-year yield was last up 1.8 basis points at 0.7113%.
There's still an underlying bid in the market because the (US Federal Reserve) is going to maintain its zero-rate posture.

Published 01 Sep, 2020 06:38pm

Middle East

Khamenei says UAE 'betrayed' Muslim world with Israel deal

I hope the Emiratis soon wake up and compensate for what they have done, Khamenei said.

Published 01 Sep, 2020 06:39pm

Europe

Macron in high-stakes Lebanon reform drive

Macron said he is ready to host a second aid conference for blast-hit Lebanon next month.

Published 01 Sep, 2020 06:37pm

Stocks

Australian shares end near 1-month lows, dire GDP data eyed

RBA holds rates, extends term funding facility.
Financials slip to near-1-month low.
NZX website down after string of cyber attacks.

Updated 01 Sep, 2020 06:38pm

Africa

Sudan's Bashir trial adjourned to September 15

If convicted, Bashir and others could face the death penalty.

Published 01 Sep, 2020 06:35pm

Commodities

Palm oil touches near seven-month high tracking stronger soyoil

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed up 44 ringgit.
Palm oil logged a 2.3% monthly rise on Friday, its second straight monthly gain.

Published 01 Sep, 2020 06:09pm

Financial

Euro zone bonds show little reaction to negative inflation reading

Euro zone inflation turned negative in August for the first time since May 2016 at minus 0.2%. Underlying inflation.
Ultimately, how this reading today will impact markets will depend on whether it triggers an ECB reaction.

Published 01 Sep, 2020 06:09pm

Europe

Turkey detains top IS member: minister

The minister said police had also uncovered plans for several IS attacks, including a kidnapping plot.

Published 01 Sep, 2020 06:06pm

World

German lawmakers launch probe into Wirecard collapse

German payments firm folded amid fraud probe.
Former CEO arrested, former operating officer on run.
Lawmakers launch parliamentary enquiry.

Published 01 Sep, 2020 06:05pm

Energy

Oil prices lifted by weaker dollar and soaring equities

Reuters poll shows 2020 Brent seen to average $42.75/bbl.
American Petroleum Institute data expected at 2030 GMT.
Strong Chinese data lends support.

Published 01 Sep, 2020 06:04pm

Sindh govt not serious in resolving issues facing Karachi, says Faraz

Information minister says PM will visit the metropolis on Friday where he will announce various development projects under the Karachi Transformation Plan

Updated 01 Sep, 2020 06:04pm

Commodities

Perth Mint's August gold sales triple as virus fears boost appeal

Gold sales jump three-fold from last year
Silver sales ease, but still up year-on-year.

Published 01 Sep, 2020 06:03pm

Europe

Macron says need to know ‘truth of numbers’ in Lebanese banking crisis

There is today a Lebanese central banking crisis, a Lebanese banking system in crisis. A lot of funds were likely taken out.
Today everything is blocked and Lebanon can no longer finance itself, so there needs to be an audit ... there is likely money that has been diverted.

Published 01 Sep, 2020 06:02pm

South Asia

Philippines will not follow US in blacklisting China firms: official

China's ambassador to the Philippines said the US sanctions were aimed at driving "a wedge between China and regional countries".

Published 01 Sep, 2020 06:00pm

Companies

Tesla to raise $5bn through share offering

Tesla shares, which rose about 8% in early premarket trading, were up about 3% after the news.
The move comes a day after a 5-for-1 stock split took effect, Tesla's first since its initial public offering about a decade ago.

Updated 01 Sep, 2020 06:00pm

Pakistan

PTA blocks Tinder, four other online dating and streaming apps in Pakistan

The blocking comes in the wake of the telecom authority's recent actions on complaints of "immoral, obscene and vulgar content."

Published 01 Sep, 2020 05:42pm

Europe

Pope steps up call for poor country debt cancellation

The World Bank warned last month that coronavirus may have driven as many as 100 million people into extreme poverty.

Published 01 Sep, 2020 05:55pm

USA

Virus plunges Brazil into recession with record 9.7pc drop

Brazil's economy shrank a revised 2.5 percent in the first quarter, as the impact of the pandemic began to hit.

Published 01 Sep, 2020 05:48pm

Europe

Germany presses China over Hong Kong security law, Uighurs

The European Union agreed in July to limit exports of equipment to Hong Kong.

Published 01 Sep, 2020 05:44pm

US using national security concerns as excuse to act against Chinese firms, accuses China

China’s foreign ministry official says US repeatedly abused the concept of national security, misused national power, and oppressed particular Chinese companies

Updated 01 Sep, 2020 05:44pm

Middle East

Kushner visits UAE base where coveted F-35 jets deployed

Israel has already received a first consignment of the jets.
Netanyahu has made clear his opposition to the UAE being next in line.

Published 01 Sep, 2020 05:39pm

Business & Finance

In a first, cabinet approves license for industrial and medical use of Hemp

The development was announced by the Federal of Science and Technology Chaudhry Fawad Hussain, who termed it as a ‘landmark decision’ and was of the view that the decision will place Pakistan in the multi-billion dollars Cannabidiol (CBD) Market.

Updated 01 Sep, 2020 05:29pm

Energy

Nigeria aims to be net exporter of petrol over next two-years

Five refineries are being built across the country and another seven are planned, which would reverse Nigeria's dependence on imports.
The government has a 450,000 bpd capacity, he said, without saying when the projects will be completed.

Published 01 Sep, 2020 05:18pm

Europe

Erdogan calls for stricter laws on Turkish lawyers accused of terrorism links

Ebru Timtik died in an Istanbul hospital after a 238-day hunger strike following her conviction last year for membership of a terrorist organisation.
We should be discussing whether methods such as expulsion from the profession should be introduced for lawyers.

Published 01 Sep, 2020 05:16pm

Commodities

Corn, soybeans ease after US crop report

Corn hits one-week low after 5-1/2 month high on Monday.
USDA corn rating falls less than expected, soybeans in line.
Soybeans steady, consolidating below Monday's 2-year top.
Grain markets weighing Midwest dry weather, Chinese demand.

Published 01 Sep, 2020 05:09pm

Hackers test defenses of Trump campaign websites ahead of U.S. election, security staff warn

The security assessment was prepared by staff at U.S. cybersecurity firm Cloudflare, which has been hired by President Donald Trump to help defend his campaign's websites

Published 01 Sep, 2020 04:59pm

Saudi King sacks two royals over corruption charges

Commander of the Joint Forces of the Saudi-led coalition fighting in Yemen Fahad bin Turki bin Abdulaziz and Deputy Governor of Al-Jouf Region Abdulaziz bin Fahad bin Turki bin Abdulaziz were relieved of their duties and put under investigation

Published 01 Sep, 2020 04:13pm

Sports

PCB announces slow and careful resumption of cricket activities

Organisers and participants of recreational cricket advised to follow government-issued protocols.

Published 01 Sep, 2020 04:04pm

Business & Finance

Qatar becomes first Arab country to dismantle 'kafala' system

They are the latest in a series of labour reforms by the 2022 FIFA World Cup host which in the lead up to the tournament has faced accusations that migrant workers are exploited.

Updated 01 Sep, 2020 04:14pm

Sports

Rashford forms taskforce with food brands

Man United striker outlines plans to help tackle hunger among children in Britain.

Updated 01 Sep, 2020 04:04pm

World

Britain appoints former royal aide to run civil service

“ Simon Case's years of experience at the heart of government and working for The Royal Household make him ideally suited for this crucial role,” Johnson said.

Published 01 Sep, 2020 03:27pm

Technology

Electric Buses in Pakistan: Chinese company to invest $50mn in first phase

The minister said electric buses would be operating in Pakistan from this year and will operate Islamabad and Lahore.

Published 01 Sep, 2020 03:16pm

Sports

'Stressed out' Djokovic brings intensity to atmosphere-free US Open

Absence of Nadal and Federer gives the Serb a prime opportunity to gain ground on his rivals

Updated 01 Sep, 2020 03:15pm

Govt putting all efforts to develop Karachi from scratch, says Sindh governor

Ismail says PM is monitoring city's situation on a daily basis and will announce Karachi Transformation Plan during his visit

Updated 01 Sep, 2020 03:04pm

Sports

Pakistan likely to make two changes in final T20I against England

Haider Ali and Wahab Riaz are likely to be included in Pakistan side.

Updated 01 Sep, 2020 02:48pm

Business & Finance

Pakistan’s Serene Air to commence international operations next month

Safdar further added that his company has done its homework to expand itself in China and the UK and was of the view that Serene Air's signature would soon appear on the international radar.

Published 01 Sep, 2020 02:13pm

Pakistan

Punjab to build four dams at Koh-e-Sulaiman River

Chief Minister Usman Bazdar gave the approval to start preliminary work on four small dams.

Updated 01 Sep, 2020 01:13pm

Nawaz Sharif given deadline till September 9 to surrender before IHC

The court said that if Sharif fears he will be arrested upon his arrival, the court will bar the National Accountability Bureau from arresting him.

Updated 01 Sep, 2020 01:10pm

Business & Finance

PM approves Karachi related projects, says Umar

He said that he had talked to the Sindh government on projects and areas including water supply, sanitation, sewerage, transport, and roads.

Published 01 Sep, 2020 12:29pm

Business & Finance

After torrential rains onion shortage to hit in coming days

Asif said that vegetables that are arriving are deteriorating quickly due to water.

Published 01 Sep, 2020 11:59am

FM Qureshi says major milestone achieved in establishment of a separate South Punjab province

The Punjab government has appointed 10 officers in the newly-created South Punjab secretariat.

Published 01 Sep, 2020 12:02pm

World

COVID-19 pushes India’s economy to record slump

As per the data released by the Indian government, the massive contraction by almost a quarter in GDP numbers is mainly due to closure of business activity during the quarter owing to nationwide lockdowns imposed by the government to curb the spread of the deadly coronavirus.

Published 01 Sep, 2020 11:24am

Currency

Dollar dumped on rate outlook, Aussie looks to RBA

The U.S. data calendar this week is full of important releases on manufacturing, durable goods, and employment, but positive results are unlikely to halt the dollar’s decline due to strong expectations that rates will remain extremely low.

Published 01 Sep, 2020 10:38am

Technology

Zoom forecasts sales surge as video conferencing becomes a daily routine

Shares of Zoom, which have surged almost four-fold this year, rose 9.3% to $355.30 after the bell.

Published 01 Sep, 2020 10:35am

Coronavirus infects 300, claims four more lives in past 24 hours

There are now 8,881 cases in the country.

Published 01 Sep, 2020 10:20am

Business & Finance

NEPRA urges govt to take early decision on the fate of inefficient GENCOs

The Regulator in its latest report The State of Industry 2019 considers that inefficient power plants are needed to be retired on a top priority.

Updated 01 Sep, 2020 10:33am

Business & Finance

Asia's factories shaking off COVID gloom, China shines

Manufacturing activity in China expanded at the fastest clip in nearly a decade in August, as factories ramped up output to meet rebounding demand, a private survey showed. New export orders rose for the first time this year.

Published 01 Sep, 2020 10:26am

Stocks

Asian stocks edge lower after Wall Street dips in month-end trade

Australia’s S&P/ASX 200 lost 0.89% in early trading, while Japan’s Nikkei 225 fell 0.22%, Hong Kong’s Hang Seng index futures lost 0.38%.

Published 01 Sep, 2020 10:18am

Mutual Funds

Roshan accounts – a bright beginning

One of the big steps SBP took lately has been the introduction of Roshan digital account for Non-Resident Pakistanis...

Published 01 Sep, 2020 08:42am

BR Research

Attock, Cherat, Bestway: Unmoored

To say, the financial performance for cement companies during FY20 was lackadaisical would be an understatement. But...

Published 01 Sep, 2020 08:39am

BR Research

APL- earnings hit by volumes and inventory losses

Attock Petroleum Limited (PSX: APL) has seen its earnings plummet in FY20 to levels not seen in at least a decade. ...

Published 01 Sep, 2020 08:36am

Currency

First Habib Modaraba

First Habib Modaraba (PSX: FHAM) is a multi-purpose modaraba managed by Habib Metropolitan Modaraba Management...

Published 01 Sep, 2020 08:34am

Taxes

Corruption: 'FBR initiates disciplinary proceedings against 76 tax officials'

ISLAMABAD: The Integrity and Performance Management Unit (IPMU) of the Federal Board of Revenue (FBR) has initiated...

Updated 01 Sep, 2020 03:58am

Pakistan

Senate body reviews Maritime Affairs schemes

ISLAMABAD: Senate Standing Committee on Maritime Affairs in its meeting held Monday reviewed all ongoing and new...

Updated 01 Sep, 2020 03:46am

Pakistan

Lahore-Islamabad Motorway: Toll tax rate increased by 10pc

ISLAMABAD: The Frontier Works Organisation (FWO) has increased the toll tax rate for Lahore-Islamabad Motorway (M2)...

Updated 01 Sep, 2020 03:45am

Exchange

No clear-cut export strategy two years later

ARTICLE: The second full year of the PTI Government has come to an end. While the government is lauding its...

Updated 01 Sep, 2020 03:44am

Exchange

El Al 971 to Abu Dhabi: first Israel-UAE 'commercial flight'

ARTICLE: An Israeli-American delegation was set to take off Monday on the first commercial flight from Tel Aviv to...

Updated 01 Sep, 2020 03:43am

Letters

Oil seed/DAP subsidies

Ameer Abbass Khan and others, District Mianwali LETTER: It is to draw your attention to the issue of pending...

Updated 01 Sep, 2020 03:42am

Exchange

PSX posts nominal gains: BRIndex100 ends flat

KARACHI: Pakistan Stock Exchange Monday closed on a positive note on the back...

Updated 01 Sep, 2020 03:35am

Pakistan

VC inspects installation of drips system at SU urban forest

HYDERABAD: SU's VC Prof Dr Fateh Muhammad Burfat has said the idea of establishment of urban forest at SU has been...

Updated 01 Sep, 2020 03:31am

Pakistan

Petition against LG delimitations: SHC seeks replies from PBS, ECP

KARACHI: The Sindh High Court (SHC) on Monday sought replies from the Pakistan Bureau of Statistics (PBS), the...

Updated 01 Sep, 2020 03:30am

Pakistan

Elahi meets Buzdar

LAHORE: Punjab Assembly Speaker Chaudhry Pervaiz Elahi called on Chief Minister Sardar Usman Buzdar here on Monday...

Updated 01 Sep, 2020 03:29am

Pakistan

Punjab govt to present its two-year performance report

LAHORE: The Punjab government will unveil its two-year performance in a ceremony planned on Wednesday (Sep 2). Chief...

Updated 01 Sep, 2020 03:29am

Pakistan

Punjab govt appoints 10 officers in South Punjab secretariat

LAHORE: The Punjab government has appointed 10 officers in the newly-created South Punjab secretariat and the ...

Updated 01 Sep, 2020 03:29am

Pakistan

AC extends remand of Sharif Group of Companies' CFO

LAHORE: An accountability court on Monday extended the physical remand of Muhammad Usman, chief financial officer of...

Updated 01 Sep, 2020 03:29am

Pakistan

Punjab reports 28 fresh virus cases, 2 deaths

LAHORE: The novel coronavirus pandemic is continuously decreasing in Punjab as only 28 fresh cases were reported...

Updated 01 Sep, 2020 03:29am

Pakistan

PM to visit Karachi soon: Sarwar

LAHORE: Governor Punjab Chaudhry Mohammad Sarwar said on Monday that all federal organisations are playing their ...

Updated 01 Sep, 2020 03:29am

Pakistan

Administrators: 'Representatives from urban Sindh not consulted'

KARACHI: The Muttahida Qaumi Movement-Pakistan (MQM-P) on Monday said that the Pakistan People's Party (PPP) didn't...

Updated 01 Sep, 2020 03:29am

Technology

Huawei exits Australia sponsorship deal

SYDNEY: Embattled Chinese telco Huawei exited its main sponsorship deal with rugby league's Canberra Raiders Monday,...

Updated 01 Sep, 2020 03:26am

Pakistan

Model Customs Quetta recovers betel nuts, pan parag, cigarettes

QUETTA: Model Customs Quetta with the collaboration of FC recovered huge quantity of foreign origin goods i.e. betel...

Updated 01 Sep, 2020 03:26am

Pakistan

Ashura observed with religious solemnity, sanctity

KARACHI: Like other parts of the country, Youm-e-Ashura was observed in Karachi on Monday with due solemnity and...

Updated 01 Sep, 2020 03:26am

Pakistan

Sindh seeks concessions on agricultural loans

KARACHI: The Sindh government has demanded the federal government to announce waiver of agricultural loans and taxes...

Updated 01 Sep, 2020 03:26am

Pakistan

KU awards MPhil, PhD and MS degrees

KARACHI: The Advanced Studies and Research Board, University of Karachi (KU) has awarded 33 MPhil, 29 PhD, and two ...

Updated 01 Sep, 2020 03:26am

Pakistan

DHA, Clifton residents stage sit-in outside CBC office in Karachi

KARACHI: A large crowd comprising residents of the Defence Housing Authority (DHA) and Clifton staged a sit-in...

Updated 01 Sep, 2020 03:26am

Pakistan

Spillways of Rawal Dam opened as water level increases

ISLAMABAD: The spillways of Rawal Dam were opened on Monday as the water in the reservoir increased after heavy...

Updated 01 Sep, 2020 03:21am

Pakistan

Government releases Rs105.4bn for uplift projects under PSDP

ISLAMABAD: The federal government has released Rs105.4 billion (16.2 percent) for various ongoing and new ...

Updated 01 Sep, 2020 03:19am

Pakistan

PM to visit Karachi soon: Shibli

ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz on Monday said Prime Minister Imran Khan...

Updated 01 Sep, 2020 03:19am

Pakistan

Nawaz requests IHC to exempt him from appearing in person

ISLAMABAD: Former prime minister Nawaz Sharif has requested the Islamabad High Court (IHC) to exempt him from...

Updated 01 Sep, 2020 03:19am

Pakistan

Threats of floods: NDMA advises local admins to remain vigilant

ISLAMABAD: The National Disaster Management Authority (NDMA) has advised all local administrations to remain ...

Updated 01 Sep, 2020 03:19am

Pakistan

Covid-19 claims six more lives

ISLAMABAD: The countrywide tally of fatalities from coronavirus has reached 6,294, as six deaths were reported ...

Updated 01 Sep, 2020 03:19am

Pakistan

The Weather

KARACHI: The weather report on Monday (August 31, 2020) and the forecast for Tuesday (September 1, 2020)....

Updated 01 Sep, 2020 03:19am

USA

Trump losing military support in election: poll

WASHINGTON: Just 37.4 percent of active personnel in the US military support President Donald Trump's re-election,...

Updated 01 Sep, 2020 03:17am

USA

Amazon gets US approval to fly delivery drones

SAN FRANCISCO: Amazon on Monday said a freshly-issued Federal Aviation Administration certificate has cleared the...

Updated 01 Sep, 2020 03:17am

Europe

Czechs summon Chinese envoy over Taiwan row

PRAGUE: The Czech foreign ministry said Monday it had summoned the Chinese envoy to Prague after Beijing threatened...