News Archives for Latest - 2020-09-02

PM persists with Karachi task at hand

ISLAMABAD: Minster for information and Broadcasting Shibli Faraz said on Tuesday that a comprehensive programme has...

Updated 05 Sep, 2020 02:28pm

Biden to travel to flashpoint city of Kenosha

Unlike his rival, Biden relentlessly denounces institutional racism in the United States, does not hesitate to name Blake and spoke last week with his family.

Published 02 Sep, 2020 11:55pm

Africa

Zambia presidential challenger fears for his life

Hichilema, 58, leads the southern African country's main opposition United Party for National Development.

Published 02 Sep, 2020 11:51pm

USA

US says Lebanese government must pursue 'real change'

"This has to be a government that conducts significant reforms," Pompeo continued.

Published 02 Sep, 2020 11:46pm

World

Italy's Berlusconi tests positive for coronavirus: reports

"He is asymptomatic," said his doctor, Alberto Zangrillo, according to the daily La Repubblica.

Published 02 Sep, 2020 11:41pm

Exchange

Outrage after Germany says Putin critic Navalny poisoned with Novichok

The German government said it would inform NATO and EU partners over its findings for Navalny and seek a joint reaction on the case.

Published 02 Sep, 2020 11:38pm

Business & Finance

US growth, job gains slowing: Federal Reserve

The Fed noted "rising instances of furloughed workers being laid off permanently as demand remained soft," especially in the hard-hit services industries.

Published 02 Sep, 2020 11:37pm

Pakistan

NDMA to dispatch 440 tonnes wheat to Sindh

According to NDMA, the truck left for Sindh to supply 200 tonnes of wheat with the help of World Food Programme (WFP) as early while rest of it would deliver soon.

Published 02 Sep, 2020 11:33pm

Pakistan

NA body briefed on FBR reforms, way forward to improve taxes

Adviser to Prime Minister on Reforms, Dr. Ishrat Hussain, apprised the Committee about the salient features of Reforms.

Published 02 Sep, 2020 11:31pm

Business & Finance

United Airlines to cut 16,370 jobs as the pandemic rages

United’s schedule for September is 63% smaller than a year ago.

Published 02 Sep, 2020 11:30pm

Pakistan

Quality standard labs being set up to internationalize Pakistani products: PM

Chairing a meeting with prominent businessmen from various sectors, he said the government was paying special attention on introduction of technology and innovations in agriculture and other fields.

Published 02 Sep, 2020 11:29pm

Oil drops 1.5%, reversing course as U.S. gasoline demand slumps

Futures prices turned negative after weekly government data from the U.S. showed lower gasoline demand from a week earlier, shrugging off bullish crude inventory data.

Published 02 Sep, 2020 11:28pm

Pakistan

President for adoption of advanced agri technologies, practices for enhanced production

He expressed these views while chairing a meeting on technology in food security and agriculture at the Aiwan-e-Sadr.

Published 02 Sep, 2020 11:26pm

Pakistan

Anti polio drive to start from Sept 21

In this connection, the DC Sukkur on Wednesday convened a meeting to review arrangements for upcoming anti polio drive in the district in his chair at DC office here.

Published 02 Sep, 2020 11:25pm

Energy

Saudi Aramco slows diversification plans amid industry downturn: WSJ

The state-run company is also pausing investments in refineries in China, India and Pakistan, the WSJ said.

Published 02 Sep, 2020 11:22pm

Pakistan

PM for making subsidies' system organized, effective to achieve desired results

He was chairing a meeting here about making the government’s subsidies system organized and effective.

Published 02 Sep, 2020 11:23pm

Pakistan

Half of Sindh province flooded in rains, urgent relief package needed: Haleem Adil

He expressed these views during visit to different rain-hit areas of Sindh, said the statement released here on Wednesday.

Published 02 Sep, 2020 11:22pm

Pakistan

Diaspora’s rights protection, issues resolution govt’s priority: Qureshi

The foreign minister felicitated the designated envoys and said they were assigned the new responsibilities considering their excellent service record.

Published 02 Sep, 2020 11:20pm

Pakistan

Sindh govt fails to deliver: Zartaj

The minister said the Pakistan Tehreek-e-Insaf (PTI) government was committed to launch mega projects to contribute its services for the development of Karachi.

Published 02 Sep, 2020 11:11pm

Pakistan

Sheikh advises Ex PM Nawaz Sharif to surrender

He suggested that government of Sindh and the Center should work together for resolving the genuine issues of Karachi.

Published 02 Sep, 2020 11:08pm

Pakistan

Govt taking solid steps to fulfill promises made with people: CM Buzdar

Taxes had been increased in every year budget but the PTI government abolished taxes in a new financial year or reduced their ratio, he added.

Published 02 Sep, 2020 11:01pm

Pakistan

PM to announce landmark package for Karachi: Ali Muhammad Khan

He said land mafia had established illegal encroachment on nullahs in Karachi, adding the cleansing of such nullahs were imperative to improve the drainage system of the mega city.

Published 02 Sep, 2020 11:00pm

Pakistan

NA speaker lauds PBM's pro poor services

The state should also provide equal economic opportunities to the oppressed persons of the society.

Published 02 Sep, 2020 10:58pm

Pakistan

No investment made for Karachi during 35 years: SAPM

Talking to a private television channel program, he said, no investment was made for Karachi people during the period of 35 years.

Published 02 Sep, 2020 10:56pm

Pakistan

Governor Sindh, Punjab visit rain-hit areas, distributes ration, relief goods

He said that Prime Minister Imran Khan was likely to visit Karachi in a couple of days aiming to ascertain losses and find a solution so that sufferings of rain-hit areas could be minimised.

Published 02 Sep, 2020 10:50pm

Forex

Dollar extends gains, euro backtracks from key $1.20 level

Wednesday's counter-trend was attributed by analysts to profit taking and technical resistance to the $1.20 mark hit Tuesday.
The euro was 0.65% lower on Wednesday at $1.183, having retraced all of the gains it made since Fed Chair Jerome Powell's speech last Thursday.

Published 02 Sep, 2020 09:09pm

Forex

Sterling drifts lower as BoE policymakers warn of deeper economic damage

The BoE said in August it expected Britain's economy to recover to its pre-COVID-19 size by the end of next year.
The BoE said last month negative rates are part of their monetary tool box but that it saw no immediate case to cut interests rates below zero.

Published 02 Sep, 2020 09:07pm

Stocks

UK shares up for first time in 4 days on signs of economic recovery

UK homebuilders surge as house prices hit record high.
Barratt up, sees higher 2021 home completions.
Media, beverage firms, personal goods stocks lead gains.
FTSE 100 up 1.3%, FTSE 250 up 0.5%.

Updated 02 Sep, 2020 09:07pm

USA

US adds 428,000 private jobs in August, below expectations: ADP

The US Labor Department has reported tens of millions of layoffs since the business shutdowns began in mid-March.

Published 02 Sep, 2020 08:35pm

Middle East

UAE-Israel deal step to Mideast peace: Egypt's Sisi

Arab leaders support a two-state solution to resolve the decades-old Palestinian-Israeli conflict.

Published 02 Sep, 2020 08:32pm

South Asia

India parliament panel says to summon Facebook again on content regulation

The panel, headed by lawmaker Shashi Tharoor of the opposition Congress Party, questioned Facebook's India boss Ajit Mohan on Wednesday.
The meeting was inconclusive and Facebook representatives will be summoned again after the panel.

Published 02 Sep, 2020 08:28pm

Sports

Sri Lanka's Malinga pulls out of virus-hit IPL

Malinga has been with the Mumbai team, record four-time IPL winners, since the inaugural edition in 2008.

Published 02 Sep, 2020 08:30pm

Industry

After Tesla's fart mode, Mercedes bets on comfort to blow customers away

It has led the Lastenheft, or engineering blueprint, of the S-Class to expand from a pamphlet into a huge tome.
"The Lastenheft for this S-Class which was conceptualised in 2014 is now 689 pages long," Weissinger said at the Daimler-owned company's factory in Sindelfingen.

Published 02 Sep, 2020 08:25pm

Africa

UN deploys troops to new base as violence surges in S.Sudan

Shearer said he was concerned by reports that NAS rebels were again moving about the Equatoria region.

Published 02 Sep, 2020 08:27pm

USA

US places sanctions on International Criminal Court prosecutor

The move came after President Donald Trump authorized sanctions on the Hague-based tribunal on June 11.

Published 02 Sep, 2020 08:24pm

Companies

AstraZeneca COVID-19 vaccine could be on the market by end of 2020

We are talking about a potential vaccine so we need to be extremely prudent.
Drugmakers are racing to combat the pandemic, which has killed more than 850,000 people and infected over 25 million.

Published 02 Sep, 2020 08:23pm

Europe

Pompeo calls for reduction in tensions in eastern Mediterranean

Greece has accused Turkey of violating its sovereignty by pushing ahead with natural gas exploration activities.

Published 02 Sep, 2020 08:23pm

Stocks

Nvidia, Microsoft power gains for S&P 500

Private payrolls increase by 428,000 in August.
Nvidia climbs as analysts cheer new gaming chip.
Macy's gains on smaller quarterly loss.
Indexes up: Dow 0.80%, S&P 0.63%, Nasdaq 0.22%.

Published 02 Sep, 2020 08:21pm

Mutual Funds

US regulator sanctions Wells Fargo over variable annuity switches

FINRA said the cost of switching could more than offset the higher returns available on the new investments.
It said it identified at least 101 potentially unsuitable switches, including a customer who incurred $14,037 in fees.

Published 02 Sep, 2020 08:19pm

Energy

Oil drops 1.5pc, reversing course as US gasoline demand slumps

US crude inventories fall 9.4 million barrels in week –EIA.
OPEC August oil output rises for 2nd month – survey.
Factories worldwide shake off COVID-19 gloom but outlook shaky.

Published 02 Sep, 2020 08:17pm

COAS Bajwa meets Karachi traders, assures early resolution of issues facing city

Traders apprise army chief that recent downpour halted all industrial and economic activity in the metropolis

Updated 02 Sep, 2020 08:17pm

Commodities

Gold falls over 1pc on dollar rebound, economic recovery hopes

The dollar index is rallying and the euro currency is selling off because the inflation data was negative in Europe.
Bullion prices have surged about 28% this year after the virus upended economies, forcing global central banks to provide massive stimulus.

Published 02 Sep, 2020 08:09pm

Forex

Rouble tumbles after Germany says Kremlin critic Navalny poisoned with Novichok

After having opened slightly weaker against the US dollar, the rouble tumbled 2.4% against the greenback to 75.30 in reaction to the German comment. Versus the euro the rouble fell 1.5% to 88.93.
Brent crude oil, a global benchmark for Russia's main export, dipped 0.4% to $45.35 a barrel.

Published 02 Sep, 2020 08:07pm

Stocks

TSX rises on Cogeco-Altice deal, upbeat labor productivity data

Cogeco's shares rose 30.4%, the most on the TSX, after Altice USA offered to buy the company in a C$10.3 billion ($7.88 billion) all-cash deal.
the Toronto Stock Exchange's S&P/TSX composite index was up 26.02 points, or 0.16%, at 16,671.01.

Published 02 Sep, 2020 08:05pm

Financial

Saudi to allow foreigners to invest directly in debt instruments

The market regulator said resident and non-resident foreigners would be able to invest in listed and non-listed debt instruments.
The kingdom has since introduced a raft of reforms to attract overseas share buyers and issuers as part of efforts to lure foreign capital and diversify the oil-dependent economy.

Published 02 Sep, 2020 08:03pm

Currency

US private payrolls miss expectations, point to slowing labor market recovery

Private payrolls increase 428,000 in August.
July payrolls revised up to 212,000 from 167,000.
Large businesses account for big chunk of job gains.

Published 02 Sep, 2020 08:01pm

Energy

US natgas futures fall on lower air conditioning demand post-hurricane

Front-month gas futures fell 4 cents, or 1.6%, to $2.487 per million British thermal units.
As the weather moderates going into the shoulder months, demand can weaken and will be reflected in prices,

Published 02 Sep, 2020 07:59pm

Energy

German Jan-June oil imports crept up 0.4pc yr/yr despite coronavirus

Overall volumes reaching Germany in January-June totalled 41.9 million tonnes, up from 41.7 million in comparable 2019,
They recovered somewhat in May but dropped again in June in the country's biggest economic slump since World War Two.

Published 02 Sep, 2020 07:52pm

World

Amnesty International accuses Iran of widespread rights abuses against protesters

The London-based human rights group issued a report including allegations of "rape, enforced disappearance,
Amnesty said 304 men, women and children were killed by security forces during the protests.

Published 02 Sep, 2020 07:46pm

Industry

Airline SAS bondholders back key element of rescue plan

SAS agreed the plan with its top shareholders in June, but was forced last month to revise terms of the proposed debt to equity swap in an attempt to secure the agreement of enough debtholders.
"The proposed conversions have consequently been approved," it said in a statement.

Published 02 Sep, 2020 07:44pm

Financial

Yields rise slightly ahead of Fed speakers

The benchmark 10-year yield was last up 1.1 basis points at 0.6819%.
The market is being pulled in a lot of different directions," said Collin Martin.
Yields fell slightly after the ADP National Employment Report on Wednesday showed private payrolls rose by 428,000 jobs last month.

Published 02 Sep, 2020 07:42pm

Industry

Ford to cut 1,400 US salaried jobs through buyouts by year end

The layoffs will be achieved through voluntary buyouts, the US automaker said in an email sent to employees.
We're in a multiyear process of making Ford more fit and effective around the world," Ford's Americas President Kumar Galhotra said.

Published 02 Sep, 2020 07:40pm

Money & Banking

Chile central bank softens 2020 recession projection, expects stabilization

In its quarterly economic report, known as IPOM, the bank added that the gradual easing of lockdowns.
The all-important mining industry has largely maintained production throughout the pandemic.

Published 02 Sep, 2020 07:35pm

Money & Banking

Bank of England policymakers warn UK economy facing bigger risks

Ramsden told lawmakers that the BoE had estimated the level of Britain's economic output would permanently be about 1.5 percentage points lower.
For me all the risks are really that that number will be greater than 1.5%.

Published 02 Sep, 2020 07:30pm

Commodities

Sugar, coffee prices weaken as dollar rebounds

October raw sugar slipped 0.12 cent, or 0.95%, to 12.48 cents per lb.
October white sugar fell $2.40, or 0.7%, to $360.10 a tonne.
November robusta coffee fell $16, or 1.1%, to $1,447 a tonne.

Published 02 Sep, 2020 07:27pm

Technology

US appeals court rejects Oracle's challenge in JEDI contract fight

At the heart of Oracle's dispute was whether the Pentagon should turn to a single company for its cloud computing services. *The contracting process had long been mired in conflict of interest allegations, even drawing the attention of President Donald Trump.

Published 02 Sep, 2020 07:21pm

Exchange

Rupee loses 02 paisas against dollar

The buying and selling rates of dollar were recorded at Rs 165 and Rs 166.5 respectively.

Published 02 Sep, 2020 07:24pm

Sports

PCB announces schedule of remaining HBL PSL 2020 matches

The four matches will be held in Lahore on 14, 15 and 17 November with only the Qualifier and Eliminator 1 to be a double-header.

Published 02 Sep, 2020 07:21pm

Pakistan

Gold price fall Rs2500, sold at Rs115,200 per tola

The price of per tola silver remained stagnant at Rs1400.

Published 02 Sep, 2020 07:23pm

Pakistan

Knitwear exports increase record 20.42pc

Knitwear worth $315,700 thousand were exported as compared to the exports of $262,159 thousand of same period of last year.

Published 02 Sep, 2020 07:22pm

Pakistan

Pharmaceutical exports increase 20.11pc in July 2020

Pharmaceutical exports rose by 31.24 percent, by going up from 1,181 metric tons to 1,550 metric tons during the period under review.

Published 02 Sep, 2020 07:20pm

Africa

South Africa's $30bn COVID-19 relief package exposed to fraud

Reports of suspect deals between government officials and businesses providing medical equipment or food aid parcels to the poor.
Audit work to date found an increased risk of payments to ineligible beneficiaries, overpayments,

Published 02 Sep, 2020 07:18pm

Karachi police book DHA residents for 'vandalism', issuing threats to CBC staff

A case has been registered at Darakhshan police station against the protesters on request of CBC officials

Updated 02 Sep, 2020 07:19pm

Forex

C$ steadies against rebounding greenback as oil climbs

Canadian dollar trades near flat against the greenback.
Canadian productivity rises 9.8% in the second quarter.
Price of US oil increases 0.5%.
Canadian bond yields little changed across the curve.

Published 02 Sep, 2020 07:15pm

Stocks

Saudi leads Gulf gains as financials boost; Egypt eases

Nine of 11 Saudi Arabian banks gain.
Emaar The Economic City extends gains.
FAB will open discussions with Israeli banks.

Published 02 Sep, 2020 06:56pm

Middle East

Iran hails support for nuclear deal against US

Helga Schmid said the participants were "united in resolve to preserve" the nuclear agreement.

Published 02 Sep, 2020 07:02pm

Europe

Russian PM to visit Minsk Thursday

Putin has backed Lukashenko and raised the possibility of sending military support if Belarus "starts to get out of control".

Published 02 Sep, 2020 06:58pm

Europe

First coronavirus case in Greece's main migrant camp

The infection rate accelerated in August, which accounted for more than half of Greece's 10,500 cases.

Published 02 Sep, 2020 06:56pm

World

Qatar Emir tells Kushner two-state solution needed to end Palestine-Israel conflict

Kushner, the son-in-law of US President Donald Trump, is in Qatar after a US-brokered accord last month for the United Arab Emirates and Israel to normalise ties.
The UAE is the third Arab country to recah such an agreement with Israel after Egypt and Jordan.

Published 02 Sep, 2020 06:49pm

Cotton

Pakistan takes historic steps for legalization and production of medicinal marijuana

Science and Technology minister says industrial hemp will only be cultivated under government control

Updated 02 Sep, 2020 06:51pm

Technology

India bans Tencent's PUBG app as takes aim at China tech

The list of 118 mostly Chinese apps also includes applications from Baidu and Xiaomi's ShareSave.
Tension between nuclear-armed India and China has simmered since June when 20 Indian soldiers were killed in a border skirmish with Chinese troops.

Updated 02 Sep, 2020 06:49pm

World

Lebanon PM designate bids to form crisis cabinet within two weeks

Lebanon's worst economic crisis since the 1975-1990 civil war has seen poverty rates double to more than half the population.

Published 02 Sep, 2020 06:41pm

Africa

Sudan and rebels meet to implement peace deal

Previous peace accords in Sudan, including one signed in Nigeria in 2006 and another signed in Qatar in 2010, have fallen through.

Published 02 Sep, 2020 06:35pm

Money & Banking

Despite COVID, JS Bank’s Half Yearly Profits Skyrocket

The increase in profit is mainly due to growth in the Bank’s deposits which crossed PKR 400 billion resulting in improvement in net interest income and an upswing in fee-based income.

Published 02 Sep, 2020 06:02pm

Africa

Tunisia's new PM, cabinet approved to battle economic woes

Tunisia's parliament, elected last October, is deeply divided and many lawmakers were angry that Mechichi.

Published 02 Sep, 2020 05:59pm

Exchange

Saudi allows overflights by UAE services to 'all countries'

KSA said it will not follow UAE in establishing diplomatic ties with Israel.

Published 02 Sep, 2020 05:57pm

Commodities

Copper extends gains on recovery hopes, inflation worries

The extended V-shaped recovery is certainly continuing in copper. The market is focusing on the manufacturing data,
Copper is often regarded as a bellwether of the global economy due to its extensive industrial uses.

Published 02 Sep, 2020 05:53pm

Middle East

Direct Israel-UAE flights will continue: Netanyahu

"Flights will be cheaper and shorter, and it will lead to robust tourism and develop our economy," he said.

Published 02 Sep, 2020 05:54pm

Middle East

Macron backs Iraq 'sovereignty' on first Baghdad visit

"You have a transition to lead. France will be by your side so the international community can help," he added.

Published 02 Sep, 2020 05:52pm

Commodities

Gold eases as recovery hopes gain traction

Spot gold fell 0.1% to $1,968.01 per ounce by 1015 GMT, after hitting its highest since Aug. 19 at $1,991.91 on Tuesday.
A stronger greenback makes gold expensive for holders of other currencies.

Published 02 Sep, 2020 05:51pm

Sports

Haider Ali impresses Justin Langer

Haider Ali becomes the first Pakistan batsman to score a half-century in his first Twenty20 international.

Published 02 Sep, 2020 05:48pm

Money & Banking

Norway's interest rate unlikely to go negative

Norges Bank's key policy rate stands at zero, down from 1.5% earlier.
In the current assessment of the outlook and balance of risk, the committee does not envisage cutting rates further.
At the same time, she defended Norges Bank's decision in May to cut the key interest rate to 0% from 0.25% previously.

Published 02 Sep, 2020 05:47pm

Europe

Russia accuses Ukraine over crisis in Belarus, says it won't engage with opposition council

200 trained Ukrainian extremists were inside Belarus trying to destabilise the country.
The protest erupted after an Aug. 9 presidential election marred by allegations of election rigging. Russia is a close ally of Belarus.

Published 02 Sep, 2020 05:45pm

Europe

Russia steps up support for Belarus' Lukashenko

The Kremlin earlier this week announced that President Vladimir Putin would host Lukashenko in the coming weeks.

Published 02 Sep, 2020 05:45pm

Energy

Oil rises towards $46 on US inventory drop, economy hopes

API reports larger than expected drop in US crude stocks.
OPEC August oil output rises for 2nd month – survey.
Factories worldwide shake off COVID-19 gloom but outlook shaky.

Published 02 Sep, 2020 05:44pm

Exchange

Afghan president says all commitments met for Taliban peace talks

Kabul had baulked at the release of the final 400 Taliban inmates who Ghani described as ‘a danger to the world’.

Published 02 Sep, 2020 05:43pm

Commodities

Wheat eases after rally, losses curbed by strong demand

Chicago wheat futures dip after rising to a five-month top.
Corn and soybean pare some of previous sessions gains.

Published 02 Sep, 2020 05:42pm

Europe

Virus restrictions extended in northern England

Nationwide restrictions were imposed in Britain in late March following a surge in cases of Covid-19.

Published 02 Sep, 2020 05:41pm

Commodities

Palm climbs for 5th day as weaker ringgit boosts

Palm oil rose 3.2% in intraday trade on Tuesday to touch its highest level in nearly seven months.
"The market is more focused on August production situation than the drop in exports," he added.

Published 02 Sep, 2020 05:40pm

Business & Finance

Britain clears Virgin Atlantic's £1.2bn rescue

The rescue cash, including £200 million from Branson's Virgin Group, will be delivered over the next 18 months.

Published 02 Sep, 2020 05:39pm

Stocks

Indian shares end higher on Reliance boost, recovery hopes

The NSE Nifty 50 index closed up 0.56% at 11,535, while the S&P BSE Sensex ended 0.48% higher at 39,086.03.
Investors also looked past concerns around heightened border tensions, after India accused China of "provocative actions" on Tuesday.

Published 02 Sep, 2020 05:37pm

PM directs implementation on SC order to free undertrial, convicted female inmates

Imran also sought reports on foreign women prisoners and women on death row for humanitarian consideration

Updated 02 Sep, 2020 05:39pm

Financial

Greece draws strong demand for 10-year bond reopening

The sale attracted offers worth 16 billion euros. Guidance was revised to mid-swaps plus 140 basis points.
Greece aims to raise up to 2 billion euros from the bond which matures June 18, 2030.

Published 02 Sep, 2020 05:35pm

Europe

Foreign interference main challenge facing Iraq, says France's Macron

"We are here for and we will continue to support Iraq," Macron said at a news conference in Baghdad with his Iraqi counterpart Barham Salih.
Iraq should not become a battleground for proxy conflicts between other states, Salih said.

Published 02 Sep, 2020 05:33pm

Middle East

Netanyahu says Israeli airliners will fly ‘directly’ to UAE

Saudi Arabia opened its airspace to all flights to and from the United Arab Emirates.
Netanyahu did not explicitly say Israeli planes could overfly Saudi territory.

Published 02 Sep, 2020 05:30pm

Exchange

El Al Israel Airlines gets $51mn offer for joint control

Sapir, whose businesses include infrastructure, telecoms and tourism, has offered to pay $51 million for 190 million new shares in El Al.
El Al has received two other proposals but its board has yet to approve either of them.

Published 02 Sep, 2020 05:26pm

Money & Banking

NBP posts stellar results for a COVID stricken quarter

NBP has posted total profits of 11,071 million compared to 6,917 million during same quarter last year.
This is a significant jump of approximately 46% compared to second quarter of 2019.

Published 02 Sep, 2020 05:24pm

Companies

India ONGC unlikely to buy overseas oil, gas assets at current prices

Prices are stuck at $45 ( per barrel) so any acquisition should be made at significantly lower prices only.
Oil companies across the globe have cut their spending plans as the pandemic has driven down oil prices.

Updated 02 Sep, 2020 05:26pm

Stocks

Stocks climb as recovery hopes gather strength

Euro STOXX 600 gains 2.1%.
Manufacturing data adds to recovery hopes.
Tech index jumps to highest since 2001.
Dollar edges away from two-year lows.

Published 02 Sep, 2020 04:42pm

Companies

Daimler CEO says demand has stabilised from corona lows

The Afghan government has released another batch of the remaining Taliban prisoners and the work is still underway to move the prisoner exchange process forward.
We want to finish the prisoner swap so we could start the peace process as soon as possible.

Published 02 Sep, 2020 04:35pm

Technology

Pakistan’s IoT co TPL Trakker joins hands with Rider

In the first phase, Rider has deep-linked the TPL Maps Navigation App (available on Android & iOS) in its Drive4Rider App.

Published 02 Sep, 2020 04:34pm

Technology

Apple-Epic row being closely watched by German antitrust chief

Apple dropped Epic Games after a dispute in which the 'Fortnite' creator alleged that the iPhone maker's in-app payment terms constitute a monopoly.
"This has most certainly attracted our interest," said Andreas Mundt, head of the Federal Cartel Office.

Published 02 Sep, 2020 04:32pm

Europe

UK/Japan trade deal good for consumers, companies, Johnson tells Abe

Britain and Japan are in advanced stages of trade negotiations. After leaving the European Union on Jan. 31, Britain is trying to strike bilateral deals with trading partners.
The Prime Minister and Prime Minister Abe welcomed the progress that UK and Japanese negotiators have made towards a bilateral FTA.

Updated 02 Sep, 2020 04:32pm

Sports

PCB thanks Pakistan men’s cricket team

“We will now look forward to working closely with ECB in the coming months to plan their tour to Pakistan in 2022,” says Wasim Khan.

Updated 02 Sep, 2020 04:19pm

Afghan govt frees 200 Taliban inmates to begin long-delayed peace talks

Officials say a negotiation team of Afghan government is expected to fly to Qatar on September 3 to prepare for peace talks with the Taliban

Published 02 Sep, 2020 04:04pm

Technology

For next wave of startups, Nest I/O launches 12th Incubation Cycle program

The maximum number of team members per team that can be stationed at The Nest i/o at a given time are four, which is subject to availability of space.

Published 02 Sep, 2020 04:10pm

Pakistan

Curbing misinformation, Facebook launches new feature in Pakistan

Users in Pakistan will be shown a message when they attempt to share specific types of images, including photos that are over a year old and that may come close to violating Facebook’s guidelines on violent content.

Published 02 Sep, 2020 03:16pm

Supreme Court suspends SHC verdict on sugar inquiry commission report

Top court allowed the relevant institutions to proceed with their investigation into the sugar scandal in compliance with the report

Published 02 Sep, 2020 03:04pm

Business & Finance

ECC approves $142mn to meet Roosevelt Hotel financial requirements

Chairman PIA-IL in a letter on August 8, 2020 stated that the financial health of PIA-IL with existing proceeds repayment of $ 56 million to PIA-IL is not possible.

Published 02 Sep, 2020 02:40pm

Sports

Hafeez, Shaheen on the charge in latest ICC T20I rankings

All-rounder scored 69 and 86 not out to walk away with the player of the series.

Published 02 Sep, 2020 02:25pm

Sports

Germany v Spain: What to look out for in the Nations League

Two recent world champions meet in Stuttgart in their first competitive encounter since the 2010 World Cup semi-final in Durban.

Updated 02 Sep, 2020 02:25pm

Money & Banking

State Bank directs IBIs to adopt AAOIFI Shariah Standard

The failure to comply with these instructions may invoke penal action under the provisions of Banking Companies Ordinance 1962, said SBP.

Published 02 Sep, 2020 02:21pm

Sports

England should ‘definitely’ tour Pakistan, says ECB Chairman

England haven’t toured Pakistan since 2005-06 series.

Published 02 Sep, 2020 01:31pm

Omni Group's Anwar Majeed granted bail by SC

He has been directed to submit his passport with the court.

Published 02 Sep, 2020 01:18pm

Sports

Messi unlikely to change mind on Barca exit, says presidential candidate

Argentine rocked Barcelona last month when his lawyers told the club he wanted leave the Catalans.

Published 02 Sep, 2020 01:29pm

Business & Finance

Despite COVID Emirates SkyCargo exports 10mn Pakistani mangoes this season

The main markets where Emirates SkyCargo transported mangoes from Pakistan this season included the UK, US, Canada, Australia, France, Singapore, Malaysia, and the UAE.

Published 02 Sep, 2020 12:52pm

Study finds COVID-19 may cause heart attack, even when you have recovered

Young people, who have recovered from coronavirus, may also develop heart problems.

Updated 02 Sep, 2020 12:20pm

Technology

This battery can remain charged for thousands of years

As per reports, researchers say that the hardest metal diamond has been used in the manufacture of the nano-diamond battery, due to which it emits less radiation than the human body.

Published 02 Sep, 2020 12:08pm

Life & Style

Ed Sheeran announces birth of daughter Lyra Antarctica

The 29-year-old singer is the most successful British artist of the last decade and married his childhood school friend in 2019.

Published 02 Sep, 2020 12:03pm

Business & Finance

Karachi based mechanical company to manufacture ventilators

The development was shared by Federal Minister for Science and Technology Chaudhry Fawad Hussain in a tweet post.

Published 02 Sep, 2020 11:26am

Pakistan

Shehbaz Sharif arrives in Karachi

He will meet the rain victims during his day-long visit to the port city.

Published 02 Sep, 2020 10:40am

Pakistan condemns French magazine’s decision to reprint sketches of Holy Prophet PBUH

"Such actions undermine the global aspirations for peaceful co-existence as well as social and inter-faith harmony," FO said.

Updated 02 Sep, 2020 10:34am

Technology

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

The world's largest social network also updated its "terms of use" on Tuesday to say that it can block content anywhere globally or restrict users from accessing the services if such a move is warranted to avoid regulatory risks.

Published 02 Sep, 2020 10:28am

Stocks

Stocks gain on brisk U.S. manufacturing survey, stimulus hopes

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25% while Japan’s Nikkei advanced 0.35%.

Published 02 Sep, 2020 10:22am

Business & Finance

Samsung eyes new opportunities as pandemic ignites demand for home appliances

In particular, consumers have been willing to splurge on products that make their homes cleaner.

Published 02 Sep, 2020 10:18am

Business & Finance

Unilever to drop fossil fuels from cleaning products by 2030

The household goods conglomerate behind the Omo, Cif, Sunlight and Domestos brands said that, instead of petrochemicals, the products would substitute constituents created from plants and other biological sources, marine sources such as algae and waste materials.

Published 02 Sep, 2020 10:15am

Mutual Funds

Amazon's new offerings make India centre of fintech push

The push ramps up competition as financial technology (fin-tech) rivals and their deep-pocketed foreign backers struggle for profitability in a predominantly cash-based economy where about 190 million adults do not have bank accounts.

Published 02 Sep, 2020 10:13am

BR Research

Fertilizer sales playing catch up

After a record June, urea sales in July 2020 also ended on an encouraging note, highest since CY16. Recall that...

Published 02 Sep, 2020 09:33am

BR Research

Cement: Fruits of labor

There is a very clear upward trajectory expected from volumes in cement as FY21 fast rolls in. Demand had started to...

Published 02 Sep, 2020 09:32am

BR Research

PSO: FY20 scarred by inventory losses

Out of the total expected inventory losses of close to Rs20 billion that Pakistan State Oil Limited incurred in ...

Published 02 Sep, 2020 09:31am

BR Research

Shifting sands

Pandemics, natural disasters and wars have a way of exposing fault lines and leaving a lasting legacy. So the world,...

Published 02 Sep, 2020 09:29am

Exchange

ORIX Modaraba

There is a very clear upward trajectory expected from volumes in cement as FY21 fast rolls in. Demand had started to...

Published 02 Sep, 2020 09:28am

Opinion

Betting on Asia's debt, Europe's hunt for yield heads east

ARTICLE: Low yields at home are sending some previously shy European investors into Asia's credit markets, money...

Updated 02 Sep, 2020 03:17am

Succession-linked deal: Samsung heir charged with fraud

SEOUL: South Korean prosecutors indicted the heir to the Samsung empire Tuesday over a controversial merger of two...