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Archive - 2020-10-27
CM condemns blast in Peshawar
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
Brazil eyes GDP per capita growth of 37pc over next decade
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
FATF's choice
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
EU chief backs quicker virus tests
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
Lucky Cement records CE of Rs5.13bn
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
Hyundai's Motional partners with Via to launch US robotaxi service in 2021
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
TSX flat as downbeat earnings offset energy gains
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
Bloomberg is funding late $15mn push to help Biden in Texas, Ohio
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
Lufthansa braces for very slow recovery in passenger demand
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
China phases out use of 'X-factor' in managing yuan value
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
Facebook's top India lobbyist Das quits after content row
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
Exxon Baton Rouge, Louisiana, refinery to keep running during Zeta
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
Raytheon profit beats estimates on cost controls
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
Euro zone bond yields dip as investors remain cautious
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
Erdogan files criminal complaint against Dutch politician Wilders
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
Rolls-Royce shareholders approve 2bn stg rights issue
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
German minister warns of 20,000 new daily virus cases within days
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
Malaysia's king wins plaudits during political storm
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
Lagging industrial sector
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
Iran pleads at UN against US wars

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
Gul Ahmed profits rise over 100pc in 1st Quarter
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
Where is the rupee headed?
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
EVs: Light it up
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
PMPK: volumes recovering?
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
Thal Limited
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
The challenge of Covid-19
Letters

The challenge of Covid-19

Alarmingly, the number of positive coronavirus-19 cases is on the rise again in the country. One of the reasons...
Published 27 Oct, 2020 02:59am
PDM's Quetta show
Exchange

PDM's Quetta show

The Pakistan Democratic Movement's (PDM's) rally in Quetta was huge, indicating that its narrative has gripped not...
Published 27 Oct, 2020 02:59am
State of the BoP
Exchange

State of the BoP

The SBP has recently released the statistics on the balance of payments for Pakistan for the first quarter of...
Published 27 Oct, 2020 02:59am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Monday (October 26, 2020) and the forecast for Tuesday (October 27, 2020)....
Published 27 Oct, 2020 02:59am
KMC forms Baghban committee
Pakistan

KMC forms Baghban committee

KARACHI: On directives of Administrator Karachi Iftikhar Ali Shallwani, Karachi Metropolitan Corporation on Monday...
Published 27 Oct, 2020 02:59am
German confidence dips
Europe

German confidence dips

FRANKFURT AM MAIN: German business confidence in October fell for the first time since April, as businesses become...
Published 27 Oct, 2020 02:59am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meeseq Fund Rates on Monday (October 26, 2020). ======================== Offer Price 1,172.0838 Bid...
Published 27 Oct, 2020 02:59am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Monday (October 26, 2020). ======================== Offer Price...
Published 27 Oct, 2020 02:59am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Monday (October 26, 2020). ======================== Offer Price 1,453.4876...
Published 27 Oct, 2020 02:59am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 27 Oct, 2020 02:59am
Member to Member
Rates

Member to Member

KARACHI: The following transactions member to member subsequently reported on Monday (October 26, 2020)....
Published 27 Oct, 2020 02:59am
THE RUPEE: Firm trend
Currency

THE RUPEE: Firm trend

KARACHI: On Monday, after market closing, Pakistan Rupee continued on to its upward trend from last week by gaining...
Published 27 Oct, 2020 02:59am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (October 26, 2020)....
Published 27 Oct, 2020 02:59am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Monday (October 26, 2020). ======================================= Offset...
Published 27 Oct, 2020 02:59am
Karachi Yarn Market Rate
Yarn Prices

Karachi Yarn Market Rate

KARACHI: Karachi Yarn Market Rates on Monday (October 26, 2020). ======================================= CONES...
Published 27 Oct, 2020 02:59am
Australian shares slip, NZ up
Stocks

Australian shares slip, NZ up

SYDNEY/WELLINGTON: Australian shares dipped on Monday, with gold stocks leading losses, as a record rise in...
Published 27 Oct, 2020 02:59am
China stocks fall
Stocks

China stocks fall

SHANGHAI: China stocks ended lower on Monday, dragged down by the consumer sector after the country's largest liquor...
Published 27 Oct, 2020 02:59am
SAP drags down German shares
Stocks

SAP drags down German shares

MILAN/FRANKFURT: German shares closed at their lowest in nearly four months on Monday as Europe's most valuable tech...
Published 27 Oct, 2020 02:59am
Japanese shares lower
Stocks

Japanese shares lower

TOKYO: Japanese shares edged lower on Monday, as investors were on guard ahead of a slew of earnings reports, while ...
Published 27 Oct, 2020 02:59am