News Archives for Latest - 2020-10-27

Exchange

India, US clinch defence pact on satellite data

NEW DELHI: India will sign a military agreement with the United States for sharing of sensitive satellite data, the...

Updated 01 Nov, 2020 02:59am

Business & Finance

Despite sales decline, Attock Petroleum Limited PAT rise by 21pc

The company’s PAT increase by 21pc over the same period last year, as compared to Rs 1,225 million recorded in 2019. The results translate into earnings per share of Rs 14.92 as compared to EPS of Rs 12.31 in the same period last year.

Updated 29 Oct, 2020 06:43pm

Pakistan

SBP Governor for joint efforts to fight cancer

Around 90,000 new breast cancer cases were reported every year during immediate past years and about 50 percent of those patients lost their lives.

Updated 28 Oct, 2020 07:53pm

Pakistan

Govt approaching diplomatic channels to bring back Nawaz: Vawda

He termed the opposition parties a political orphan and they were trying to attack the institutions to get national reconciliation ordinance (NRO) which was impossible.

Updated 28 Oct, 2020 07:52pm

Pakistan

Govt striving to reduce inflation: Shafqat

The minister said prices of commodities had increased in the country, adding the government had taken decision to import wheat for controlling its shortage.

Updated 28 Oct, 2020 07:52pm

Pakistan

KP CM expresses satisfaction over progress on development activities in merged districts

He directed health, education and police departments to develop their work plans with regard to the requirements of infrastructure and human resources in merged districts.

Updated 28 Oct, 2020 07:51pm

Pakistan

CM condemns blast in Peshawar

The Punjab government fully shared the grief of the bereaved families, he said and added that this act of terrorism was highly condemnable.

Updated 28 Oct, 2020 07:50pm

Pakistan

Peaceful neighborhood vital component of Pakistan’s foreign policy: Sanjrani

He also mentioned that Pakistan reopened a key border crossing to resume exports from Afghanistan to India under the Pakistan-Afghanistan Transit Trade Agreement.

Updated 28 Oct, 2020 07:50pm

Pakistan

Minister visits Fort Munro to monitor anti-polio campaign

She said that according to vision of Prime Minister Imran Khan, the Health department was striving to ensure best possible services for common man.

Updated 28 Oct, 2020 07:49pm

Pakistan

Indian's brutalities can't stop freedom struggle in Kashmir: Dr Yasmin

The minister said Prime Minister Imran Khan has raised strong voice against Indian atrocities and the international community must notice the human rights violations in Kashmir.

Updated 28 Oct, 2020 07:48pm

Pakistan

Pakistan to continue moral, diplomatic support to Kashmiris struggling for freedom: Shibli

The minister said the United Nations had passed resolutions to resolve the Kashmir issue, which, unfortunately, were not implemented.

Updated 28 Oct, 2020 07:48pm

India may use Afghanistan to foment unrest: PM

ISLAMABAD: Prime Minister Imran Khan Monday said there were serious apprehensions in Pakistan that Indian would use...

Updated 28 Oct, 2020 07:47pm

Kashmir Black Day: India's dangerous mix of extremist ideology imperiling regional peace, says PM

Imran urged the international community to take practical steps to stop India from using state-terrorism as a tool to destabilize the region

Updated 28 Oct, 2020 07:47pm

USA

Brazil eyes GDP per capita growth of 37pc over next decade

The upper end of the scale resulting from a series of "transformative" reforms and educational advances over 2021-2031 that would deliver average annual GDP growth of 3.5%.
Macroeconomic stability, continuing the long-term fiscal adjustment agenda and monetary policy balance are necessary conditions for a return to sustained growth.

Updated 28 Oct, 2020 07:46pm

Pakistan

Sindh govt, HEC agree to form combined accreditation system

Murad asks HEC chairman that an effective strategy should be formulated in accordance with the constitutional provisions to improve the quality of education

Updated 28 Oct, 2020 07:46pm

Money & Banking

Bank of England set to return to the stimulus pump

BoE expected to bolster bond-buying programme again.
Economists predict 100 billion-pound raise - Reuters poll.
Negative rates under feasibility review.
Markets have reduced bets on rates turning negative.

Updated 28 Oct, 2020 07:45pm

Editorials

FATF's choice

EDITORIAL: In its much awaited decision the Financial Action Task Force (FATF) while acknowledging that Pakistan has...

Updated 28 Oct, 2020 01:34pm

Biden heads for Georgia, Trump the Midwest as US election enters final week

Trump has focused on the unrest to bolster his claims to be the "law-and-order" candidate in his election battle against Biden.

Published 27 Oct, 2020 11:55pm

Industry

Airline revenues forecast at half 2019 levels in 2021: IATA

IATA also urged airports and air traffic controllers not to increase their prices to cover shortfalls from the vastly lower traffic.

Published 27 Oct, 2020 11:52pm

In row with Macron, Erdogan seeks influence in Muslim world

The French leader's robust defence of the right to mock religion followed the beheading of a French schoolteacher who had shown his pupils cartoons of the prophet.

Published 27 Oct, 2020 11:50pm

Pfizer says it could still deliver a Covid-19 vaccine in 2020

The year-ago period included a large gain connected to a transaction.

Published 27 Oct, 2020 11:37pm

UK trucker took 23 minutes to raise alarm over 39 dead migrants

Eamonn Harrison, 23, who is said to have driven the lorry to Zeebrugge, and Georghe Nica, 43, both deny 39 counts of manslaughter.

Updated 27 Oct, 2020 11:50pm

Bullion Rate

Bullion rates in Hyderabad gold market

Following were the bullion rates in Hyderabad gold market on Tuesday.

Published 27 Oct, 2020 11:29pm

Pakistan

Sindh Govt to conduct universities' monitoring working under its charter: CM Sindh

The chief minister said that after 18thamendment the provinces had established their provincial higher education commissions.

Updated 27 Oct, 2020 11:49pm

Currency

President Alvi urges more precaution against coronavirus

Earlier, President Dr. Arif Alvi inaugurated Coronavirus Heroes Wall – the wall built to pay tribute to those heroes who were in the vanguard of the fight against COVID-19.

Updated 27 Oct, 2020 11:49pm

Pakistan

COVID-19 claims 5 more lives, infects 335 others: CM Sindh

The CM said that 8860 samples were tested against which 335 new cases were diagnosed that constituted 3.8 percent current detection rate.

Updated 27 Oct, 2020 11:49pm

Pakistan

CM approves release of 25,000-ton wheat to flour mills daily

In a statement issued here, the CM stated the decision was made to stabilise flour prices and pointed out that Punjab was the only province where 20kg flour bag was available for Rs. 860.

Published 27 Oct, 2020 11:35pm

Europe

Russia foreign minister self-isolates after Covid contact

Russia has the fourth-highest virus caseload in the world, with a total of 1,547,774 registered infections and 26,589 deaths.

Published 27 Oct, 2020 11:47pm

Business & Finance

Amazon and UPS ramp up hiring for holiday shopping blitz

E-commerce colossus Amazon announced it is creating more than 100,000 jobs in operations such as packing and delivering orders for its "peak season."

Published 27 Oct, 2020 11:36pm

Business & Finance

Spain to hike taxes on firms, the wealthy

EU finance ministers agreed in March to suspend stringent rules on running public deficits to allow member states to spend freely to tackle the impact of the pandemic.

Published 27 Oct, 2020 11:43pm

Europe

EU chief backs quicker virus tests

Michel said the technique should be backed up with "antigen tests, which -- although currently regarded as less reliable -- are more efficient, yielding results within 15 minutes."

Published 27 Oct, 2020 11:39pm

World

Four dead after migrant vessel capsizes in Channel

The issue has been a source of tension, with Britain accusing France of not doing enough to stop the crossings.

Published 27 Oct, 2020 11:41pm

Pakistan

Lucky Cement records CE of Rs5.13bn

During the first quarter 2020-21 under review, the company’s overall consolidated net profit increased by 242pc as compared to the same period last year.

Published 27 Oct, 2020 11:41pm

Pakistan

Govt not to let internal, external enemies to harm Pakistan: Shibli

Shibli Faraz said the country’s enemies were hatching conspiracies against the incumbent government and the opposition parties’ so-called protest movement was part of their designs.

Published 27 Oct, 2020 11:38pm

Pakistan

CM Sindh approves 58 more seats for AJK students in public sector universities

The chief minister was told that there were 25 public sector universities in Sindh, including medical, engineering and general where AJK and Gilgit Baltistan have 162 seats.

Published 27 Oct, 2020 11:36pm

USA

Trudeau tells Canadians pandemic 'really sucks'

Another person went to work with symptoms and when told to go home, went shopping instead, according to authorities.

Published 27 Oct, 2020 11:33pm

USA

UN envoy sees delay in Syria political process

The constitutional process, launched in October 2019, aims at drafting a constitution acceptable to all sides that will pave the way for elections.

Published 27 Oct, 2020 11:32pm

Europe

Two children among four dead after migrant vessel capsizes in Channel

The issue has been a source of tension, with Britain accusing France of not doing enough to stop the crossings.

Published 27 Oct, 2020 11:29pm

Africa

Algeria president hospitalised amid Covid scare

8 "His health is stable and does not raise any concern," it said, only adding that he "continues his daily activities" from hospital.

Published 27 Oct, 2020 11:28pm

World

China blasts 'bully' US ahead of Pompeo's Sri Lanka stop

Pompeo's visit went ahead despite a surge in coronavirus lockdowns in many parts of Colombo because of a surge in infections.

Published 27 Oct, 2020 11:25pm

Pakistan

Shibli asks world community to ensure Kashmiris’ right to self determination

He said depriving the Kashmiri people of their basic right of self determination was an example of the double standards of the international community.

Published 27 Oct, 2020 11:23pm

Exchange

India’s arms amassing carries serious repercussions for regional peace: FO

“The recent unprecedented rate of missile tests conducted by India is yet another manifestation of dangerous Indian conventional and nuclear military build-ups,” the spokesperson said.

Published 27 Oct, 2020 11:17pm

Pakistan

Moeed mulls over inter-ministerial coordination to achieve EOI objectives

During the meeting, important issues were discussed including key sectors and priorities of various ministries along with maximum economic potential.

Published 27 Oct, 2020 11:09pm

Pakistan

CM announces compensation package for seminary blast victims

The Chief Minister has strongly condemned the incident of bomb blast at Dir Colony Peshawar and termed it as a brutal act.

Published 27 Oct, 2020 11:05pm

Pakistan

PTI govt not to budge from accountability of corrupt: Shibli

Shibli Faraz said the opposition parties wanted to bring amendments in the laws pertaining to the National Accountability Bureau which suited them.

Published 27 Oct, 2020 10:58pm

Pakistan

Peshawar attack: Afghan peace process may have been the target

The Peshawar attack may have been the work of the spoilers of the Afghan peace process.

Updated 27 Oct, 2020 10:54pm

Commodities

Gold gains as dollar eases, coronavirus concerns persist

Spot gold was up 0.2% at $1,906.10 per ounce at 10:21 a.m. EST (1421GMT). US gold futures rose 0.2% to $1909.40.
Gold is stuck in a tight range and there's probably not going to be too much activity before the election, he added.

Updated 27 Oct, 2020 09:29pm

Companies

Hyundai's Motional partners with Via to launch US robotaxi service in 2021

The partnership, which plans to launch the rides in the first half of 2021, aims to combine Motional's driverless vehicles with Via's technology that powers booking, routing passenger and vehicle assignment.
The partnership on Tuesday said it was working to ensure the health and safety of vehicle occupants.

Updated 27 Oct, 2020 09:29pm

Pakistan

Launching stroke prevention programs, establishment of national treatment center urged

"In addition to launching national and provincial stroke prevention programs, there is an urgent need to have a national stroke treatment center and research institute in Karachi like National Institute of Cardiovascular Diseases (NICVD)," says Dr. Wasey.

Updated 27 Oct, 2020 09:28pm

Exchange

Rupee gains 14 paisas against US dollar

The buying and selling rates of dollar were recorded at Rs 160.3 and Rs 161 respectively.

Updated 27 Oct, 2020 09:03pm

Pakistan

Gold prices declines Rs750 to Rs114,500

The price of 10 grams gold is decreased by Rs643.

Updated 27 Oct, 2020 09:02pm

Pakistan

Razak urges exporters to enhance presence in global markets

He said that with the world returning to lockdowns, amid Covid-19 resurgence, the demand for our exports may also be affected.

Updated 27 Oct, 2020 08:54pm

Stocks

S&P 500 flat after Monday's selloff as focus turns to corporate earnings

Xilinx jumps on $35 bln buyout deal from AMD.
Merck up after raising profit forecast.
- Pfizer, Eli Lilly fall after results.
Indexes: Dow down 0.26%, S&P flat, Nasdaq up 0.47%.

Published 27 Oct, 2020 08:50pm

Stocks

TSX flat as downbeat earnings offset energy gains

The Toronto Stock Exchange's S&P/TSX composite index was down 7.43 points, or 0.05%, at 16,072.12.
On the TSX, 141 issues were higher, while 74 issues declined for a 1.91-to-1 ratio favouring gainers, with 15.65 million shares traded.

Published 27 Oct, 2020 08:48pm

Pakistan

Twitter verifies 45 govt of Pakistan, representatives accounts

The General Manager of DMW, Imran Ghazali termed it small but important step as part of the overall strategy to strengthen the digital presence of government of Pakistan.

Updated 27 Oct, 2020 08:47pm

Forex

Latam FX bounce after soft start to the week, Brazil real pressured

The real fell 0.5%, pushing the MSCI's index for Latin American currencies 0.1% lower.
Latin American currencies started the week on the back foot on Monday but Chile's peso rose 0.6%, extending its winning streak to an eighth day.

Published 27 Oct, 2020 08:43pm

Forex

Dollar dips after previous gains amid COVID-19, election uncertainty

Dollar gives up early gains, euro marginally higher.
FX markets in wait-and-see mode before US election.
Sterling gains as Brexit trade deal talks continue.

Published 27 Oct, 2020 08:39pm

Commodities

Raw sugar hits 8-month high, robusta highest in nearly a month

Robusta coffee hit a one-month high as a powerful typhoon approaches top producer Vietnam.
December white sugar rose $4.8, or 1.2%, to $401.40 a tonne.

Published 27 Oct, 2020 08:35pm

Business & Finance

Shanghai Electric transaction at mercy of KE’s markup issue

Ghaziani pointed out that similarly, in case of NTDC/CPPA and KE, the payables should be netted directly against the receivables of Tariff Differential Claim which has crossed Rs 200bn principal amount receivable from the government.

Updated 27 Oct, 2020 08:35pm

Stocks

Stocks wobble on COVID-19, election uncertainty; dollar dips

MSCI global stock gauge edges lower.
S&P, Dow drop, Nasdaq up; Europe stock indexes lower.
US Treasury yields lower on stimulus deal doubts.
Oil rises on US Gulf shutdowns.

Published 27 Oct, 2020 08:33pm

Commodities

EU + UK soybean imports 4.47mn tonne by Oct 25, rapeseed 2.06mn tonne

That was 4% above the volume imported in the previous 2019/20 season, the data showed.
Soymeal imports in 2020/21 came to 5.62 million tonnes, down 12%, while palm oil imports stood at 1.95 million tonnes, up 3%.

Published 27 Oct, 2020 08:29pm

Commodities

EU + UK soft wheat exports 6.44mn tonne by Oct. 25, down 30pc

That was 30% below the volume cleared by Oct. 27 last year.
This week's data includes the previous week's totals which were not published due to a technical problem.

Updated 27 Oct, 2020 08:29pm

USA

Bloomberg is funding late $15mn push to help Biden in Texas, Ohio

Bloomberg asked his team to see polling data from multiple states and after reviewing the numbers on Monday decided to invest additional money to support Biden in Texas and Ohio.
Bloomberg will also increase pro-Biden advertising in Florida, fortifying a campaign that began mid-September with daily ads in 10 Florida media markets.

Published 27 Oct, 2020 07:19pm

Forex

Canadian dollar strengthens as global risk aversion subsides

Canadian dollar rises 0.2% against the greenback.
Loonie trades in a range of 1.3156 to 1.3212.
Price of US oil increases 0.4%.
Canadian bond yields ease across much of a flatter curve.

Published 27 Oct, 2020 07:16pm

Industry

Lufthansa braces for very slow recovery in passenger demand

First-quarter capacity is expected to be up to 25% of pre-crisis levels, unchanged from the current quarter and well short of the 50% previously envisaged by the end of this year.
Business customers, traditionally the carrier's cash cow, remain a rarity but are returning on the carrier's China routes.

Published 27 Oct, 2020 07:13pm

Currency

China phases out use of 'X-factor' in managing yuan value

The China Foreign Exchange Trade System said in a statement it would change the price adjustment model of the central parity rate of the yuan versus the dollar to promote transparency and efficiency.
"This does not necessarily mean that they are seeking to actively weaken the yuan - it is just that those tools are no longer needed."

Published 27 Oct, 2020 07:11pm

Energy

US natgas eases from 21-month high as power generators burn more coal

On their second to last day as the front-month, gas futures for November delivery fell 2.3 cents, or 0.8%, to $3.001 per million British thermal units.
December futures, which will soon be the front-month, were down six cents to $3.19 per mmBtu.

Published 27 Oct, 2020 07:03pm

Stocks

Property shares buoy UAE bourses; Egypt snaps losing streak

Aldar extends gains on govt capital projects.
The worst is over for oil market - Saudi energy minister.
National Commercial Bank's Q3 profit rises.

Published 27 Oct, 2020 06:55pm

Currency

SBP brings new mechanism on disinvestment proceeds remittance

The new mechanism also incorporates feedback received from investors and other stakeholders, said SBP release.

Published 27 Oct, 2020 06:58pm

Pakistan

Pakistan’s exports to Afghanistan decrease by 13.98pc in Q1

Imports from Afghanistan during the period under review was recorded at US $ 17.820 million against US $25.453 million last year, showing decline of 29.98 percent in July-September (2020-21).

Published 27 Oct, 2020 06:57pm

Technology

Facebook's top India lobbyist Das quits after content row

Das, who was Facebook's public policy head for India, South & Central Asia, has decided to step down to pursue her interest in public service.
The WSJ "article does not reflect the person I know or the extraordinarily complex issues we face everyday that benefits from Ankhi and the Public Policy team's expertise.

Published 27 Oct, 2020 06:53pm

Currency

US core capital goods orders increase solidly in September

Core capital goods orders increase 1.0% in September.
Core capital goods shipments rise 0.3%.
Durable goods orders advance 1.9%.

Published 27 Oct, 2020 06:51pm

Industry

Exxon Baton Rouge, Louisiana, refinery to keep running during Zeta

Zeta is currently forecast to pass on-shore 110 miles (177 km) southeast of the refinery, which remains on the western edge of computer models for the hurricane's path.
Exxon spokesman Jeremy Eikenberry said the company is monitoring Hurricane Zeta and operations were normal

Updated 27 Oct, 2020 06:51pm

Europe

Spain unemployment jumps to 16.26pc on virus fallout

The number of total unemployed stood at 3.7 million at the end of September.

Published 27 Oct, 2020 06:45pm

Pakistan

Pak-Qatar Takaful group holds webinar on understanding takaful products

"Takaful is a community-pooling system based on the principles of brotherhood and mutual help wherein participants contribute in a common fund to help those who need it the most,” says Mufti Hassaan Kaleem.

Published 27 Oct, 2020 06:27pm

Europe

Russia tightens virus restrictions as cases spike

Russia has the fourth-highest virus caseload in the world, with a total of 1,547,774 registered infections and 26,589 deaths.

Published 27 Oct, 2020 06:22pm

Sports

'Don't retire': 'Universe Boss' Gayle still IPL force at 41

Gayle was benched for the early part of the IPL and then missed games over a stomach bug, but he has responded in style.

Published 27 Oct, 2020 06:19pm

Pakistan

Second COVID-19 wave has begun in Pakistan: Dr. Faisal Sultan

He said, “The death rate from coronavirus has also increased in the country while the positivity ratio had surged to 2.5-2.75%.”

Published 27 Oct, 2020 06:12pm

New law introduced: India allows non-residents to buy property in IIOJK

Under the new law, “permanent resident of the state” clause has been omitted while 12 state laws have been repealed and 26 others have been adapted with changes or substitutes

Published 27 Oct, 2020 05:59pm

Business & Finance

Japan's ANA predicts record $4.87bn net loss for 2020/21

Revenue plunged 72 percent to 291.8 billion yen for the six months.

Published 27 Oct, 2020 06:14pm

Money & Banking

Spain's Banco Santander returns to profit

The company also benefited from cost savings worth 500 million euros compared with 200 million in 2019.

Published 27 Oct, 2020 06:12pm

Business & Finance

BP slashes losses as oil demand improves

BP is axing 10,000 jobs, or 15 percent of its global workforce, after the pandemic caused huge asset writedowns.

Published 27 Oct, 2020 06:10pm

Currency

Eurozone banks tighten lending on virus jitters

A net figure of 19 percent of banks toughened their criteria in the quarter, compared with one percent of banks in the previous three months.

Published 27 Oct, 2020 06:05pm

South Asia

Three dead, dozens wounded in attack on Afghan police base

The first nine months of this year saw 2,177 civilians killed and 3,822 wounded, the report said.

Published 27 Oct, 2020 05:45pm

Industry

Caterpillar reports 54pc drop in quarterly earnings

In the third quarter, the heavy equipment maker reported a profit of $1.22 per share, down 54% from a year ago.
The company was witnessing "positive signs" in certain industries and geographies.

Published 27 Oct, 2020 05:41pm

Middle East

Iran's virus deaths exceed 33,000 with new records

The previous record of 337 deaths was reached last week, and was matched again on Monday.

Published 27 Oct, 2020 05:43pm

Perspectives

U.S. Election 2020: Amidst historic levels of turnout, who will claim the Oval Office?

The U.S. Presidential Election is shaping up to be a divisive, rhetoric-driven affair, with two polarising figures (albeit not equally) vying for the Oval Office; yet, this could serve just as well as a summation of the contest in the previous election - raising the question, how do you predict the outcome of a thoroughly unpredictable affair?

Published 27 Oct, 2020 05:32pm

Middle East

Almost 30 dead as Syria govt forces clash with IS: monitor

On Tuesday, clashes and Russian air strikes killed 13 jihadists, while 16 regime fighters died in fighting.

Published 27 Oct, 2020 05:41pm

Europe

UK retail sales slump in October as economy wanes: CBI

The Confederation of British Industry's (CBI) monthly gauge of retail sales fell to -23 in October, its lowest level since June, after hitting an 18-month high of +11 in September.

Published 27 Oct, 2020 05:39pm

Commodities

Copper ticks higher on bargain hunting, but more losses expected

Volumes were light as investors waited for results from a meeting this week on China's new five-year plan.
I think there is more downside for copper, and the biggest risk for metals right now is a stronger dollar due to uncertainty building on many fronts,

Published 27 Oct, 2020 05:38pm

Business & Finance

Pfizer reports lower earnings as Covid-19 hits revenues

Revenues dipped four percent to $12.1 billion, missing analyst estimates.

Published 27 Oct, 2020 05:39pm

South Asia

US puts China 'aggression' at heart of India talks

US and India signed off on a series of accords including one which will allow the US military to share sensitive satellite and sensor data.

Published 27 Oct, 2020 05:38pm

Money & Banking

Santander Brasil's Q3 profit grows, beats profit estimate

Profit rose 5.3% to 3.902 billion reais ($694 million) and topped Refinitiv estimates by 47%.
Quarter on quarter they fell 55.4% after it set aside 3.2 billion reais in the second quarter, bracing for the coronavirus crisis.

Published 27 Oct, 2020 05:34pm

Middle East

Child malnutrition surges in war-torn Yemen: UN

Only $1.43 billion of the $3.2 billion needed to fund Yemen aid projects had been received by mid-October.

Published 27 Oct, 2020 05:34pm

Industry

Raytheon profit beats estimates on cost controls

The health crisis has dealt a heavy blow to the US aerospace sector, grappling with lower sales due to the grounding of Boeing Co's top-selling 737 MAX planes.
Raytheon said it achieved $700 million of cost reduction and $1.9 billion of cash conservation actions in the third quarter ended Sept. 30.

Published 27 Oct, 2020 05:31pm

Europe

UK Covid report says 'structural racism' killing minorities

The report was commissioned by the main opposition Labour party and is likely to feed into political criticism of the Conservative government's handling of the pandemic.

Published 27 Oct, 2020 05:31pm

Industry

Bharti Airtel posts highest-ever quarterly revenue on higher tariffs, data usage

Indian telecom operators, grappling with low tariffs due to a price war that ensued after Mukesh Ambani's Reliance Jio entered the space.
That helped the company's quarterly consolidated revenue rise 22% to 257.85 billion rupees.

Published 27 Oct, 2020 05:25pm

Europe

Spain proposes new taxes in draft 2021 budget

The budget plan will still have to be approved by parliament, where the government controls just 155 out of 350 seats.

Published 27 Oct, 2020 05:29pm

Companies

Pfizer not yet ready to release COVID-19 vaccine data

Pfizer's CEO Albert Bourla has said the company could release data on whether or not the vaccine works as early as this month.
Pfizer said quarterly Lyrica sales fell 33% to $352 million.

Published 27 Oct, 2020 05:10pm

Financial

Euro zone bond yields dip as investors remain cautious

White House economic adviser Larry Kudlow said on Monday that talks over a coronavirus relief package have slowed.
Ahead of the ECB on Thursday and the US presidential election in just one week, we expect EGB (euro government bond) markets to stay in a tight range with no additional risk positions being taken on.

Published 27 Oct, 2020 05:08pm

Pakistan

Pakistan to start accepting Umrah applications from Nov 1

Pakistanis will be able to submit their application for Umrah pilgrimage under the new regulations

Published 27 Oct, 2020 05:00pm

Europe

Erdogan files criminal complaint against Dutch politician Wilders

On Saturday Wilders posted a cartoon picture of Erdogan and captioned it "terrorist". On Monday he posted an image of a sinking ship with a Turkish flag on it.
Even though the crime was committed directly against the person in the presidential seat, the value that is being violated is the state's political government structure.

Published 27 Oct, 2020 05:06pm

Industry

Rolls-Royce shareholders approve 2bn stg rights issue

The approval of the capital raise boosts the group's total liquidity by 5 billion pounds by unlocking extra debt options for Rolls.
"The single resolution is passed overwhelmingly," chairman Ian Davis told an online meeting.

Published 27 Oct, 2020 05:04pm

Exchange

India signs key defence deal with US amid China standoff

The deal grants India access to such information that is considered vital for hitting missiles, drones and other targets with precision.

Published 27 Oct, 2020 04:56pm

Commodities

Nickel's sizzling rally cools, but not over yet

Indonesia's NPI output to expand significantly next year.
October stainless production likely to be solid.

Published 27 Oct, 2020 05:01pm

Europe

German minister warns of 20,000 new daily virus cases within days

"We are dealing with exponential growth," Altmaier told a virtual German-French economic conference in Berlin.
The additional measures should be targeted, temporary and focussed. And they should be taken as uniformly as possible across Germany and be generally understandable,

Published 27 Oct, 2020 04:59pm

Energy

Oil rises towards $41 on US Gulf shutdowns, outlook weak

US offshore Gulf oil cut 16% due to Hurricane Zeta.
US crude inventories expected to rise.
Libyan output to reach 1 million bpd in weeks.

Published 27 Oct, 2020 04:58pm

Industry

Lilly misses estimates on weak demand, COVID drug development costs

The company did not provide any fresh update on the treatment in its results statement.
Lilly said it expects 2020 COVID-19 research and development expense to be roughly $400 million, sending its shares down 4% before the opening bell.

Published 27 Oct, 2020 04:56pm

South Asia

Malaysia's king wins plaudits during political storm

Holding a largely figurehead role, Malaysian monarchs rarely make headlines for their role in the country's political affairs.
And he could play a key role if the political instability continues, say constitutional lawyers and political analysts.

Published 27 Oct, 2020 04:53pm

Industry

3M profit beats estimates on healthcare product boost

There has been a recovery from last quarter when the company suffered a plunge in sales.
Sales in its healthcare unit, which also makes surgical supplies and dental products, jumped 25.5%.

Published 27 Oct, 2020 04:48pm

Pakistan

Safdar's arrest: Ministerial committee gathers evidence, decides to hold daily meetings

Inquiry committee is also likely to summon Safdar Awan and Sindh Police chief

Updated 27 Oct, 2020 04:23pm

Pakistan

CAA blames PIA for Havelian crash in 2016

The ill-fated flight PK-661, was travelling from Chitral to Islamabad.

Updated 27 Oct, 2020 03:56pm

Sports

PCB confirms Pakistan tour of South Africa next year

Both teams will play three T20Is and ODIs each during the tour.

Published 27 Oct, 2020 03:42pm

Companies

MCB Profits rise by an impressive 75pc

MCB Bank Limited had a stellar year with a 75pc increase in profits after tax during the third quarter of the current financial year.

Updated 27 Oct, 2020 03:28pm

BR Research

Lagging industrial sector

The industrialization process in several countries of East and Southeast Asia formed the backbone of their economic...

Published 27 Oct, 2020 03:19pm

BR Research

Looming threat of rescheduled loans

The outbreak of a pandemic, the ensuing lockdowns and slowdown in business activity led to the largest restructuring...

Updated 27 Oct, 2020 03:18pm

Iran pleads at UN against US wars

President Donald Trump's administration has imposed sweeping unilateral sanctions on Iran, hoping to end the clerical regime's backing of paramilitary groups in the region.

Updated 27 Oct, 2020 03:03pm

World

Any Indian citizen can now buy land in IIOJK, Ladakh

The order comes into force with immediate effect.

Published 27 Oct, 2020 02:19pm

Pakistan

PM Imran chairs federal cabinet meeting

Participants discussed overall political and economic situation in the country.

Updated 27 Oct, 2020 02:23pm

Pakistan

Pakistan asks India to lift military siege, media blackout in IIOJK

FO says for over one year, the scale and impunity of the Indian government’s human rights violations have increased manifold

Updated 27 Oct, 2020 02:20pm

Business & Finance

WTI Falls Below $39 as COVID fears sweep through

West Texas Intermediate drops to below $39 amid COVID-19 fears and rise in oil production.

Published 27 Oct, 2020 01:48pm

Business & Finance

Dawood urges Pakistani exporters to remain vigilant amid second wave of COVID

The advisor said that as the world returning to lockdowns, amid the resurgence of COVID-19 cases, the demand for Pakistan’s exports may also be affected.

Published 27 Oct, 2020 01:02pm

Technology

Facebook to Launch its Hosting Service

Facebook has announced plans to launch its own free website builder and paid web hosting services to support small and medium-sized business during the pandemic.

Published 27 Oct, 2020 12:50pm

Exchange

Senior al-Qaeda leader Abu Muhsin al-Masri killed in Afghanistan, as confirmed by U.S. authorities

The United States has confirmed the death of Muhsin al-Masri, a high ranking Al-Qaeda official in Afghanistan, stating that U.S. forces provided intelligence and logistical support in the Afghan-led operation in the country’s Eastern province of Ghazni.

Updated 27 Oct, 2020 12:51pm

Terrorists responsible for 'cowardly' Peshawar attack will be brought to justice: PM

At least 7 died and more than 100 were injured in an explosion at a seminary in Peshawar's Dir Colony on Tuesday morning.

Updated 27 Oct, 2020 12:47pm

World

Pompeo says U.S., India must focus on threat posed by China

Pompeo arrived in New Delhi on Monday along with Defense Secretary Mark Esper for an annual strategic dialogue at a time of heightened tension in the region

Published 27 Oct, 2020 12:31pm

At least 7 dead, more than 100 injured in Peshawar seminary explosion

The nature of the explosion has yet to be ascertained.

Updated 27 Oct, 2020 12:19pm

Pakistan

SC dismisses NAB's plea to include Shehbaz Sharif's name in ECL

The country’s top accountability watchdog had filed an appeal following the Lahore High Court’s order to remove PML-N president's name from the no fly list

Updated 27 Oct, 2020 12:05pm

Business & Finance

Gul Ahmed profits rise over 100pc in 1st Quarter

The rise in profits comes at the back of a pickup in demand and an increase in the number of export orders as the company saw its revenue rise to Rs 20.32 billion in the first quarter as compared to Rs 14.93 billion recorded in the same period last year, showing a YoY increase of 36pc.

Published 27 Oct, 2020 11:57am

Pakistan

COVID-19 outbreak: Six deaths, 773 new infections reported in country during 24 hours

So far, a total of 329,375 coronavirus cases have been detected while the disease has claimed lives of 6,745 people

Published 27 Oct, 2020 11:32am

Business & Finance

Europe's EGV to manufacture electric buses in Pakistan

He said that over the next three years up to $4 billion would be allocated for the EV industry.

Updated 27 Oct, 2020 11:18am

Business & Finance

Orange Line completion a major outcome of the CPEC, says China

The spokesperson added that China will continue working with Pakistan to advance the building of the CPEC and forge it into a quality demonstration project of the Belt and Road Initiative.

Published 27 Oct, 2020 10:29am

Business & Finance

In fight with Amazon, India's Future Retail sees liquidation if Reliance deal fails

The dispute centres around FRL’s decision in August to sell its retail, wholesale, logistics and some other businesses to Reliance for $3.38 billion, including debt.

Published 27 Oct, 2020 10:17am

Business & Finance

Samsung Display gets U.S. licenses to supply some panels to Huawei

From Sept. 15, new curbs have barred U.S. companies from supplying or serving Huawei.

Published 27 Oct, 2020 10:14am

Currency

Asian shares hit by surging coronavirus cases, U.S. stimulus woes

MSCI's gauge of Asia Pacific stocks outside Japan was down 0.43%, with Australia's ASX 200 off 1.1% to an almost three-week low.

Published 27 Oct, 2020 10:11am

Exchange

Ant Group to close institutional book of $17.2 billion Hong Kong IPO early

The book was due to close on Thursday, but that deadline will be accelerated to Wednesday 5.00 p.m. in each region.

Published 27 Oct, 2020 10:09am

Business & Finance

Judge sets first hearing in U.S. Google antitrust lawsuit

Mehta said lawyers for Google and the Justice Department must appear at the telephone status hearing at 10 a.m. EDT that will be open to the public or media.

Published 27 Oct, 2020 10:08am

Currency

Where is the rupee headed?

PKR has been appreciating against USD for the past two months. One reason is the USD depreciation against other...

Published 27 Oct, 2020 08:09am

BR Research

SEZs: for the future or the past?

Earlier this month, three new special economic zones (SEZ) were approved by the Board of Approvals headed by PM ...

Published 27 Oct, 2020 08:08am

BR Research

EVs: Light it up

The automobile industry in Pakistan is routinely thrust into controversy. At a demonstrably low car ownership rate,...

Published 27 Oct, 2020 08:07am

BR Research

PMPK: volumes recovering?

The stars are getting aligned for tobacco manufacturers, so far as financial results for the Jul-Sep quarter are...

Published 27 Oct, 2020 08:06am

Currency

Thal Limited

Thal Limited (PSX: THALL) was established as a public limited company in 1966 under the Companies Act, 1913, (now,...

Published 27 Oct, 2020 07:15am

Members of SOEs' boards: Constitution doesn't allow MPs' appointments: ministry

ISLAMABAD: The Ministry of Law and Justice has said that the constitution does not allow appointments of...