News Archives for Latest - 2020-10-28

Editorials

Unwarranted remarks

EDITORIAL: Unveiling his plan to defend his country's secular values in the wake of killing of a history teacher for...

Updated 29 Oct, 2020 02:35pm

Technology

Vivo – Empowering customers with smartphone innovation and design excellence

"I can say that Pakistan’s smartphone market has been steady in 2020 for vivo, indicating Pakistan’s trust in vivo. This allows us to strive for better as we know that people rely on us, trust us to make the best technology at affordable prices and we are happy to always deliver on this," says vivo CEO.

Updated 29 Oct, 2020 07:33am

Stocks

US stocks join global selloff on virus fears, Dow -3pc

The broad-based S&P 500 also shed 3.1 percent to 3,287.40, as did the tech-rich Nasdaq Composite Index, which stood at 11,079.01.

Published 28 Oct, 2020 11:58pm

Pakistan

FM rejects Ayaz Sadiq's statement on Kashmir

In a statement, Qureshi said the PTI government was striving to unite the nation on the Kashmir cause but unfortunately some people had started narrating the Indian mantra against it.

Published 28 Oct, 2020 11:57pm

Pakistan

Asad appeals public for strict implementation of SOPs to avoid coronavirus

He said that the world had acknowledged the efforts of Pakistan's government regarding measures taken for combating dangerous virus.

Published 28 Oct, 2020 11:53pm

Pakistan

Opposition attempted to force ruling party for relief in corruption cases: Fawad

The leaders of Pakistan Muslim League-N were trying to hoodwink the nation, he said adding that incumbent government would complete its five year period without any pressure.

Published 28 Oct, 2020 11:50pm

Pakistan

GB to be made full-fledged province soon: Murad Saeed

Unfortunately the longstanding demand of the GB people had not been fulfilled by the previous governments, he said in a statement while issuing the schedule of his visit to Gilgit-Balitistan.

Published 28 Oct, 2020 11:06pm

Pakistan

Govt taking all possible steps to control inflation: Dr Gill

He said the government was effectively working and evolving prudent policies to resolve the issues.

Published 28 Oct, 2020 11:01pm

Pakistan

Pakistan rejects India’s illegal amendments in land ownership laws in IIOJK

The spokesman said that changing the demographic structure of IIOJK is a violation of the 4th Geneva Convention and constitutes a war crime.

Updated 28 Oct, 2020 09:11pm

Companies

GSK warns COVID-19 will dent full-year earnings

GSK shares were down 1% at 1,347.2 pence after the drugmaker's shingles vaccine Shingrix, the biggest driver of sales growth last year, saw quarterly revenue fall 30% from a year earlier.
What we saw through the quarter ... were definitely lower vaccination rates in July and August.

Updated 28 Oct, 2020 08:51pm

Sports

Ronaldo left out of Juve squad to face Barcelona

The Portuguese had been hoping to return in time for Wednesday's match and, although there was no official comment on his condition, he was not included in the squad.
The match would have been the first time he faced his personal rival Lionel Messi since Ronaldo left Real Madrid in 2018.

Updated 28 Oct, 2020 08:47pm

Industry

Etihad Airways sells $600mn in 'transition' sukuk

It set the final spread for the sukuk at 200 basis points over mid-swaps and received more than $700 million in orders for the debt sale.
HSBC and Standard Chartered acted as joint global coordinators and "joint sustainability structuring agents" for the deal.

Published 28 Oct, 2020 08:09pm

Stocks

TSX falls as US crude stockpile, virus cases hit energy shares

The energy sector dropped 3% as US crude prices were down 5.4% a barrel, while Brent crude lost 4.7%.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 2.7%

Published 28 Oct, 2020 08:07pm

Exchange

Rupee gains 29 paisas against US dollar

The buying and selling rates of dollar were recorded at Rs 160.4 and Rs 161.2 respectively.

Updated 28 Oct, 2020 08:08pm

Stocks

Wall St slumps as surge in virus cases clouds recovery outlook

Airlines, hotel stocks down on fears of pandemic-led curbs.
GE jumps on surprise profit, positive cash flow.
Boeing dips after quarterly results.
Indexes down: Dow 1.61%, S&P 1.68%, Nasdaq 1.97%.

Published 28 Oct, 2020 08:05pm

Forex

US dollar gains on rising COVID-19 cases, lockdown risk in Europe

Germany, France to announce restrictions as COVID cases rise.
Implied volatility rises in yen, euro.
Yen rises to 1-month high vs dollar, 3-month high vs euro.

Published 28 Oct, 2020 08:03pm

Currency

Record US third-quarter growth assured as goods trade deficit falls, inventories rise

Goods trade deficit decreases 4.5% in September.
Retail inventories jump 1.6%.
Third-quarter GDP seen rebounding at a 31% rate.

Published 28 Oct, 2020 08:01pm

Vegetable Oil

Trade body urges India not to reduce import tax on edible oils

Edible oil prices in India, the world's biggest importer of vegetable oils, have jumped recently, tracking a rally on foreign markets and after the local soybean crop was damaged by excessive rainfall.

Published 28 Oct, 2020 07:59pm

Forex

Latam FX dives, Brazil's real hits 5-month low ahead of rate move

The real slipped 0.9% to fall for the fourth straight day as Brazil's central bank was seen leaving its benchmark Selic rate at a record low of 2.0% later in the day.
The extension of the budget deficit in an effort to fight the effects of the pandemic is limiting the central bank's scope to cut rates further.

Published 28 Oct, 2020 07:57pm

Pakistan

Gold prices declines Rs1250 to Rs113,250 per tola

The price of 10 grams gold decreased by Rs1071.

Updated 28 Oct, 2020 07:58pm

Commodities

Copper plunges as investors brace for coronavirus lockdowns

Stock markets plunged and the dollar strengthened as Germany and France prepared to announce new restrictions.
We're talking about potential new lockdowns in Europe, with cases just galloping. It's really hitting markets in the stomach.

Published 28 Oct, 2020 07:56pm

Pakistan

Motor Cars imports reduced by 24.66pc

Motor cycles imports decreased by 39.41%, worth $10,758 as compared the imports of valuing $18,754 of the corresponding period of last year.

Updated 28 Oct, 2020 07:55pm

Europe

EU sets aside 100 million euros for rapid virus tests

The antigen test for the coronavirus is not seen as being as reliable as the so-called "PCR test", in which a sample taken from a nasal swab is sent to a lab for testing.

Published 28 Oct, 2020 07:49pm

World

Over 500,000 virus cases worldwide in new daily record

In total, 516,898 new infections and 7,723 deaths were announced, according to the tally compiled on Wednesday.

Published 28 Oct, 2020 07:47pm

Business & Finance

Battered by pandemic, Boeing cutting 30,000 jobs in two years

The latest announcements will shrink headcount down to 130,000 from 160,000 in January of this year, a drop of nearly 19 percent in less than two years.

Published 28 Oct, 2020 07:46pm

Energy

Oil plunges 5pc as coronavirus cases surge, US crude stockpiles swell

Rising COVID-19 cases and lack of US stimulus dent oil prices
US crude stocks rose by 4.6 mln barrels last week -API
Concerns over supply disruption from Hurricane Zeta recede

Published 28 Oct, 2020 07:43pm

Currency

Turkey hikes inflation forecast as lira falls

The lira reached record-low levels of 8.29 against the dollar and 9.73 against the euro on Wednesday before recovering slightly.

Published 28 Oct, 2020 07:43pm

Energy

US crude stocks jump, fuel inventories lower: EIA

Crude inventories rose by 4.3 million barrels in the week to Oct. 23 to 492.4 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 422,000 barrels in the last week, EIA said.

Published 28 Oct, 2020 07:41pm

Pakistan

NCOC issues new guidelines for businesses amid spike in COVID-19

The decision was taken to curb the further spread of an already rising number of coronavirus infections.

Updated 28 Oct, 2020 07:41pm

Money & Banking

Bank of Canada says pandemic second wave to hit near term growth, holds rates steady

The central bank also said it was recalibrating its major asset purchase program to shift towards longer-term bonds.
There is a serious risk, however, that broader or more intensive restrictions could be required.

Updated 28 Oct, 2020 07:41pm

Taxes

SEED Launches Policy Note for Property Tax Reform in KP

Sustainable Energy and Economic Development (SEED) launched a Policy Note in collaboration with the KP Government to introduce Property Tax Reform in the province.

Updated 28 Oct, 2020 07:12pm

Pakistan

Pakistan earns US $68 million by exporting transport services

The exports of air transport witnessed decrease of 64.81 percent by going down from US $122.150 million last year to US $42.990 million during July-August (2020-21).

Published 28 Oct, 2020 06:52pm

Kerb

Facebook, Twitter, Google CEOs to defend key law before US Senate panel

Facebook Inc's Mark Zuckerberg, Twitter Inc's Jack Dorsey and Google's Sundar Pichai will be asked about how they monitor and moderate political content online.
I have long said that Big Tech poses the single greatest threat to our First Amendment rights and the future of democracy.

Published 28 Oct, 2020 06:41pm

Currency

Investment bank lifts Deutsche to surprise third-quarter profit

First quarterly net profit since Q1 2019
Earnings boosted by investment bank performance
Investment banking revenue to be 'significantly higher' in 2020.

Published 28 Oct, 2020 06:39pm

Stocks

Stocks sink as coronavirus lockdowns loom

Euro STOXX 600 down 2.8% to five-month low.
Germany and France prepare to announce restrictions.
Wall Street futures point to losses.
Euro down 0.6% versus dollar.
Currency market volatility jumps before US election.

Published 28 Oct, 2020 06:37pm

Commodities

Gold retreats more than 1pc to three-week low as dollar rallies

European stocks hit late-May lows
Dollar climbs to highest in over a week
Silver, palladium down more than 3%

Published 28 Oct, 2020 06:34pm

Financial

Yields fall as global COVID cases soar

Germany and France are planning strict restrictions not seen since the spring on Wednesday as COVID-19 deaths across Europe rose almost 40% in a week.
Treasuries bull flattened further overnight as global risk assets came under pressure on renewed lockdown momentum in Europe.

Published 28 Oct, 2020 06:32pm

South Asia

India's NTPC to borrow $478mn from Japanese banks to fund clean energy

The loan proceeds will be utilized by NTPC Ltd, the PSU under Ministry of Power, for funding its capex for Flue Gas Desulphurization (FGD) & Renewable Energy projects.
India has a phased plan for plants to comply with emission norms, with deadlines extending to the end of December 2022.

Published 28 Oct, 2020 06:30pm

South Asia

India trials of Russian Sputnik-V vaccine may end as early as March

Enrolment to the mid-stage trial of the Sputnik-V vaccine will start in the next few weeks and the trial was likely to end by December.
With 8 million COVID-19 infections and second only to the United States, India is pinning its hopes on a vaccine to stem the spread of the pandemic.

Published 28 Oct, 2020 06:28pm

Industry

US auto sales gain pace in October on strong demand: JD Power, LMC Automotive

Retail sales of new vehicles are estimated to reach about 1.2 million units in October, a 3% increase from a year ago when adjusted for selling days.
Two consecutive months of year-over-year retail sales increases demonstrates that consumer demand is showing remarkable strength.

Published 28 Oct, 2020 06:26pm

Middle East

Saudi Arabia plans $2bn boost for space programme by 2030

We believe there are a lot of opportunities that exist in the space sector and we, in Saudi Arabia, intend to tap these opportunities at all levels.
Saudi Arabia is a main founder and financier of the Arab Satellite Communications Organization (Arabsat), launched in 1976, with a 37% stake.

Published 28 Oct, 2020 06:22pm

South Asia

Malaysia's anti-graft agency probes AirAsia's bank loan

We have started our investigation to look into whether there had been any violation.
The application was not made overnight but instead SDB had carried out the best and most thorough investigation and consideration before the approval was given,

Published 28 Oct, 2020 06:20pm

Commodities

Sugar, coffee and cocoa slide on coronavirus lockdowns fears

March raw sugar fell 0.15 cents, or 1%, to 14.68 cents per lb.
March New York cocoa fell $76, or 3.1%, to $2,379 a tonne.
January robusta coffee fell $12, or 0.9%, to $1,339 a tonne, having hit a one-month high on Tuesday.

Published 28 Oct, 2020 06:18pm

Commodities

Soy down 20-25 cents, corn down 10-12 cents, wheat down 12-15 cents

Wheat heading lower as part of broad markets sell-off related to rising COVID-19 cases in Europe and the United States. Forecasts for rain in US Plains add pressure.
CBOT December corn was last 10-1/2 cents lower at $4.05-1/2 per bushel.

Published 28 Oct, 2020 06:16pm

Forex

Sterling falls as Europe's COVID-19 resurgence limits risk appetite

Euro zone shares fell and London's FTSE 100 dropped to its lowest level in six months. The dollar index rose around half a percent as investors sought safety.
The EU's chief negotiator, Michel Barnier, is in London for negotiations, after which the talks will continue in Brussels.

Published 28 Oct, 2020 06:15pm

World

Pompeo says China has brought lawlessness to Sri Lanka and the Maldives

The five-day tour is aimed at girding allies against China's increasing political and military inroads in the region in recent years.
We see from bad deals, violations of sovereignty and lawlessness on land and sea that the Chinese Communist Party is a predator, and the United States comes in a different way, we come as a friend, and as a partner.

Published 28 Oct, 2020 06:12pm

Business & Finance

Sony first-half net profit doubles, forecast revised up

Sony said net profit leaped 103.8 percent to 692.89 billion yen ($6.65 billion) for the first half.

Published 28 Oct, 2020 06:10pm

South Asia

Pompeo slams 'predator' China on Sri Lanka trip

Pompeo described how Washington has provided military training and recently gifted two coastguard vessels, contrasting its assistance with China.

Published 28 Oct, 2020 06:08pm

Energy

Total makes second offshore S.Africa gas find

Total holds a 45 percent stake in the block, alongside Qatari, British and South African firms.

Published 28 Oct, 2020 06:01pm

Money & Banking

Bankia quarterly profits slump 80pc on Covid woes

The state currently holds a 61.8 percent stake in Bankia but after the merger, that will drop to around 16 percent.

Published 28 Oct, 2020 05:59pm

Europe

Syria strike shows Russia not seeking 'lasting peace': Erdogan

The attack killed 78 fighters in the bloodiest surge in violence since a truce almost eight months ago.

Published 28 Oct, 2020 05:44pm

Currency

GE reports smaller loss, shares rise

GE reported a loss of $1.2 billion in the quarter, compared with a loss in the year-ago period of $9.5 billion that was inflated by a one-time non-cash loss.

Published 28 Oct, 2020 05:41pm

Europe

Merkel eyes tough curbs to tame virus before Christmas

Germany has recorded 464,239 coronavirus cases since the start of the pandemic.
A total of 10,183 people have died so far, according to RKI figures.

Published 28 Oct, 2020 05:40pm

World

Air pollution contributed to 15% of coronavirus deaths: Study

It estimates that more than 6,100 COVID-19 deaths in Britain and around 40,000 in the US could be attributed to air pollution.

Published 28 Oct, 2020 05:40pm

'Anyone not wearing face masks in public places can be arrested by Police': DC Islamabad

Islamabad administration has imposed Section 144 in the capital.

Updated 28 Oct, 2020 05:39pm

World

Azerbaijan says 19 killed, 60 wounded in Armenia missile attack

Both sides have accused each other of failing to respect ceasefire agreements mediated by Russia, France, and the United States.

Published 28 Oct, 2020 05:38pm

Europe

Europe faces tougher virus curbs but Melbourne lifts lockdown

Daily cases of Covid-19 in France have topped 50,000, while Germany is regularly reporting 10,000 new infections.

Published 28 Oct, 2020 05:37pm

South Asia

UK, India strengthen economic ties including on Covid

The new agreements included opening up infrastructure opportunities in India to UK commercial expertise and financing.

Published 28 Oct, 2020 05:33pm

Middle East

Iran hits daily record 415 virus deaths

Lari added that 6,824 people had tested positive for the virus, bringing Iran's officially declared cases to 558,648.

Published 28 Oct, 2020 05:27pm

Europe

Heathrow says Paris now Europe's busiest airport

Heathrow said 2020 passenger numbers up to end of September totalled 19.27 million for Paris and 18.97 million at Heathrow.

Published 28 Oct, 2020 05:25pm

Business & Finance

Fiat Chrysler returns to profit

The carmaker posted a net loss of 179 million euros in the third quarter of 2019.

Published 28 Oct, 2020 05:23pm

Pakistan

"Corrupt mafia" biggest hindrance in way of change, development of country: PM

Imran says next two months are crucial as Pakistan is still fighting to recover from coronavirus outbreak

Updated 28 Oct, 2020 05:21pm

Pakistan

Around 350,000 new stroke patients every year in the country

“Stroke is responsible for more deaths annually than those attributed to AIDS, tuberculosis, and malaria combined while there are 350,000 new stroke patients every year in the country. Two out of three people who suffer from a stroke live in low and middle-income countries”.

Updated 28 Oct, 2020 05:19pm

Financial

Emirate of Sharjah to raise $250mn in 2029 sukuk re-opening

*It set the final yield at 2.75% after giving initial price guidance of around 2.9% and got more than $600 million in orders for the tap of the $750 million 3.234% sukuk due October 23, 2029. * Last week, S&P Global Ratings downgraded Sharjah's long-tem credit rating to BBB- from BBB, citing a weakening fiscal position.

Published 28 Oct, 2020 05:03pm

Industry

Amazon's prep for holiday sales rush, pandemic in focus

Just three months ago, the world's largest online retailer posted the biggest profit in its 26-year history.
"Do they have the logistics and delivery capacity to handle order volumes?" Sebastian asked.

Published 28 Oct, 2020 05:01pm

Commodities

Palm oil eases on profit-booking ahead of holiday

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 14 ringgit, or 0.46%, to 3,051 ringgit ($732.88) a tonne.
Indonesia has set crude palm oil export tax at $3 per tonne for November.

Published 28 Oct, 2020 05:00pm

Companies

Fiat Chrysler returns to profit in Q3 as N. America posts record results

The Italian-American car maker on Wednesday said it posted adjusted earnings before interest and tax (EBIT) of 2.28 billion euros ($2.7 billion) in the July-September period.
Our record results were driven by our team's tremendous performance in North America.

Published 28 Oct, 2020 04:58pm

Energy

Oil in reverse as rise in US crude stocks fans oversupply fears

US crude stocks rose by 4.6 mln T last week –API.
Concerns over supply disruption from Hurricane Zeta recede.
Sentiment dented by rising COVID-19 cases, lack of US stimulus.

Published 28 Oct, 2020 04:55pm

Companies

BP reappoints Wise as head of crude trading in latest reshuffle

Wise has been the global head of crude since 2015 and the role is considered one of the most powerful in the oil industry given BP's large presence in US crude exports and refining.
Investors have welcomed BP's shift but have also questioned the financial viability of the plan as renewables typically generate lower returns than oil and gas.

Published 28 Oct, 2020 04:52pm

Currency

Tunisia central bank chief urges govt to reduce spending plans

Governor Marouan Abassi told a parliamentary committee that the central bank could finance the treasury to at most 3% of gross domestic product (GDP).
"It is not true that the bank refuses to support the efforts of the state, but the central bank refuses to implement measures that further deepen the crisis and may affect the livelihood of Tunisians,

Published 28 Oct, 2020 04:47pm

PM writes letter to leaders of Muslim states, says collective efforts needed to counter Islamophobia

Imran says world cannot go on with this hate spiral which only benefits extremists agendas and results in violence

Updated 28 Oct, 2020 04:51pm

Exchange

Aston Martin gains capital injection and strengthens Mercedes link

Shares in the company jumped as much as 12.8% after it said late on Tuesday that Daimler's Mercedes-Benz would lift its stake in the British carmaker to up to 20% by 2023.
Mercedes will not put up any cash but will be given the shares in exchange for expanding an existing supply agreement.

Published 28 Oct, 2020 04:42pm

Currency

Enforcement Action: SBP imposes over Rs 271 million penalties on four banks

The SBP takes supervisory enforcement actions against those institutions that fail to comply with legal or regulatory requirements and these actions may range from the imposition of penalties, administrative and financial sanctions, and reference to concerned law enforcement/prosecution agencies.

Published 28 Oct, 2020 04:43pm

Currency

Beiersdorf shares decline after downbeat management comments

Q3 organic sales up 0.2%.
Nivea sales up 0.5% excluding sun care.
Tesa adhesives up 6.2%.

Published 28 Oct, 2020 04:41pm

Technology

Apple starts developing its own search engine to rival Google

The move is being viewed as a consequence of the anti-trust fire the company has been facing recently.

Published 28 Oct, 2020 04:32pm

Industry

GE posts quarterly profit as business recovers from pandemic lows

The Boston-based industrial conglomerate reported a free cash flow of $514 million from industrial operations in the third quarter.
GE said it expects industrial free cash flow to be at least $2.5 billion in the fourth quarter and positive in 2021.

Published 28 Oct, 2020 04:34pm

Companies

US signs deal with Lilly for supply of potential COVID-19 antibody drug

Lilly will start delivering the treatment within two months of receiving an emergency use authorization from the US health regulator.
The US government has committed that patients will have no out-of-pocket costs for the medicine.

Published 28 Oct, 2020 04:31pm

USA

$36.5 million worth of construction projects deemed to be "underused", according to SIGAR

According to an audit report from the Special Investigator for Afghanistan Reconstruction (SIGAR), millions of dollars worth of fraudulent financial activities were detected through an investigation by the monitoring body, with multiple construction projects not being implemented as intended.

Updated 28 Oct, 2020 04:24pm

Business & Finance

ECC approves extension of power purchase agreement with Iran

The ECC granted approval for the renewal of the contract with Tavanir Iran for the purchase of 104MW of electricity subject to vetting by the Ministry of Law and Justice.

Published 28 Oct, 2020 04:22pm

World

Nearly 6,000 Afghan civilians killed or wounded in 2020: UN

A report released by UN states that from January to September, there were 5,939 civilian casualties in the fighting - 2,117 people killed and 3,822 wounded

Published 28 Oct, 2020 03:54pm

Pakistan

Illegal allotment of plots: Court allows NAB to shelve inquiry against Shehbaz Sharif

The prosecutor told the court that the record related to the case was destroyed in a fire in Lahore Development Authority (LDA) building and there is no evidence to frame charges against the PML-N president

Updated 28 Oct, 2020 03:51pm

World

US pre-voting surpasses 70mn despite week remaining in Election Day

According to the tally from the US Elections Project, it which shows a record-breaking pace that could lead to the highest voter turnout in percentage terms in mote then a century.

Updated 28 Oct, 2020 03:43pm

Pakistan

Sindh CM inaugurates Kalidas Dam, says it will provide clean water to Nagarparkar

The dam has a storage capacity of 1012.3 acre feet and has been constructed at a cost of Rs333 million

Published 28 Oct, 2020 03:07pm

World

Philadelphia sees more protests after fatal police shooting

Monday's shooting of the 27-year-old Walter Wallace, caught on cell phone video, draws fresh attention to fatal use of force by police following months of protests over how officers treat Black people.

Updated 28 Oct, 2020 02:38pm

Business & Finance

Hammad dismisses media report, says TCP imported sugar at 'competitive' rates

The minister said that the Trading Corporation of Pakistan (TCP) imported sugar at the 'most competitive' rates from the international markets without any government subsidy involved.

Published 28 Oct, 2020 02:15pm

Pakistan

IHC directs cabinet to decide on terminating diplomatic ties with France

Justice Mohsin Akhtar Kayani says the government of Pakistan has condemned the French Incitement against Islam and has also summoned the French ambassador

Published 28 Oct, 2020 02:02pm

Middle East

Pakistan Navy commences construction of third Turkish corvette

In a ceremony on Sunday, a Turkish-build MILGEM Corvette warship was unveiled, as it was announced that the Turkish National Defense Ministry firm ASFAT will be building four vessels for the Pakistan Navy; making it the single-largest export of the Turkish defense industry.

Published 28 Oct, 2020 01:57pm

Exchange

Reducing external pressures to build foreign reserves

It’s a vicious cycle; the economy of Pakistan faces balance of payment crises that forces it to seek financial...

Published 28 Oct, 2020 02:00pm

Pakistan

PM Imran Khan meets Usman Buzdar in Lahore

Buzdar apprised the PM of the prices and availability of essential commodities in Punjab.

Published 28 Oct, 2020 01:09pm

Business & Finance

PIA to bolster flights to KSA amid Umrah resumption

The development comes after Pakistan announced it will accept applications for Umrah from the nationals from November 1 under the new regulations, in wake of the Saudi government's announcement to start Umrah pilgrimage for international pilgrims.

Published 28 Oct, 2020 01:09pm

Pakistan

Govt makes wearing face masks mandatory as second COVID-19 wave hits country

NCOC also decided to make wearing face mask mandatory in both government and private sector offices.

Published 28 Oct, 2020 12:56pm

Pakistan

Park Lane Reference: Zardari exempted from personal appearance

Asif Zardari is accused of influencing relevant authorities during his tenure as the president to get loans for his front companies

Published 28 Oct, 2020 12:21pm

Business & Finance

Japan's ANA to shrink fleet as it skids toward record $4.8 billion loss

Forecasting a record operating loss of 505 billion yen ($4.82 billion) for the year to March 31, Japan’s biggest airline said it will also temporarily transfer more than 400 workers to other companies and ask those remaining to accept pay cuts or unpaid leave.

Published 28 Oct, 2020 12:32pm

Exchange

Despite sales drop, PPL profitability remains in line

The company’s sales revenue decreased by Rs 2.533 billion during the current period i.e. Rs 39.226bn as compared to the corresponding period i.e. Rs 41.751bn.

Published 28 Oct, 2020 12:27pm

Pakistan

Pakistan Navy successfully tests anti-ship missiles in North Arabian Sea

Chief of the Naval Staff Admiral Niazi said Pakistan Navy is fully capable to effectively respond to any aggression.

Published 28 Oct, 2020 12:27pm

World

Indian military to be restructured under five theatre commands to contain Pakistan, China threat

Currently, the Indian Army, Indian Air Force and the Indian Navy all defend Indian airspace on separate communication frequencies and without synergy

Updated 28 Oct, 2020 12:16pm

Technology

Apple Buys Barcelona-based Vilynx to Enhance its AI Technology

Apple purchased Vilynx, a Barcelona-based startup, that specializes in self-learning AI video technology, to boost its apps.

Published 28 Oct, 2020 11:34am

Kerb

Inaction to contain hateful content: Facebook's India policy head Ankhi Das quits

The current and former Facebook employees said Das’s intervention on behalf of Singh is part of a broader pattern of favoritism by Facebook towards Modi’s Bharatiya Janata Party and Hindu hard-liners

Updated 28 Oct, 2020 11:23am

Business & Finance

K-Electric urges shareholders to approve Rs 275mn investment in KEVCL

The creation of KEVCL is part of the diversification strategy of the Company to get into allied businesses and create new revenue streams for KE. KEVCL will be a subsidiary of KE and is intended to be the holding company for all such investments to be made by KE.

Published 28 Oct, 2020 11:13am

Technology

Small Business Loses Out As Amazon Freezes Seller Account Amidst Pandemic

While Amazon presents itself as a friend of small businesses, small retail businesses owners like Barak Govani suffered unfair treatment when their seller account was suspended, freezing retail inventory worth $1.5 million and pushing the retailer towards poverty amidst the pandemic.

Published 28 Oct, 2020 11:07am

Exchange

US, India defence deal will have ‘serious repercussions,’ warns Pakistan

US and India have signed an agreement called Basic Exchange and Cooperation Agreement.

Updated 28 Oct, 2020 10:50am

Exchange

Pakistan, Afghanistan ink Customs Mutual Assistance Agreement

The agreement will ensure reduced clearance time as well as optimum trade facilitation for import, export, and transit cargo between the two countries. It will also ensure reduced risk of evasion of duties and taxes and effective control over smuggling.

Published 28 Oct, 2020 10:32am

Currency

Asian shares, U.S. stock futures sag on coronavirus, U.S. election worries

MSCI's ex-Japan Asia index dipped 0.15% in early trade while Japan's Nikkei fell 0.6%.

Published 28 Oct, 2020 10:18am

Pakistan

Afghanistan must seize excellent intra-Afghan dialogue opportunity, FM urges counterpart

He assured that Pakistan will continue its sincere efforts for peace and stability in the region including Afghanistan.

Published 28 Oct, 2020 10:18am

Business & Finance

Oil falls on oversupply fears after build in U.S. crude stocks

In early Asia, Brent crude was down 61 cents, or 1.5%, at $40.59 a barrel by 0033 GMT, having climbed nearly 2% the previous day. U.S. oil was down 66 cents, or 1.7%, at $38.91 a barrel, after gaining 2.6% on Tuesday.

Published 28 Oct, 2020 10:17am

Business & Finance

U.S. outlook dims; economists say Democratic sweep best for revival

A fast-rising case count and uncertainty about a fiscal relief bill drove the steepest U.S. stock market sell-off in a month, with the benchmark S&P 500 index posting its biggest daily decline in four weeks on Monday, flattening the U.S. Treasury yield curve.

Published 28 Oct, 2020 10:14am

Business & Finance

China eyes launch of emissions trading scheme over next five years, official says

Technical problems and concerns over the accuracy and transparency of emissions data have dogged the system, whose first phase, covering the power sector, had been expected to launch this year.

Published 28 Oct, 2020 10:13am

BR Research

UBL consolidates profits

UBL may not have matched the profit growth of its peers, but still raked in a sizeable double-digit after-tax growth...

Published 28 Oct, 2020 07:35am

Cotton

Wheat: the full story

Now that the federal government has increased wheat support price for upcoming marketing season (2021), a discussion...

Published 28 Oct, 2020 07:35am

BR Research

Earning rebound for PSO

After a disastrous fourth quarter of FY20, Pakistan State Oil Limited (PSX: PSO) has had a breather in 1QFY21. The...

Published 28 Oct, 2020 07:34am

BR Research

Lucky, DGKC, Kohat: Back to the basics

Losses are turning into profits (or less losses in the case of DGKC) for cement manufacturers as the first quarter ...

Published 28 Oct, 2020 07:33am

Currency

Shield Corporation Limited

Shield Corporation Limited (PSX: SCL) was established in 1975 as a public limited company under the Companies Act,...

Published 28 Oct, 2020 07:25am

Money & Banking

Aussie, kiwi up

SYDNEY: The Australian and New Zealand dollars held firm on Tuesday as both countries' relative success in combating...

Updated 28 Oct, 2020 05:04am

Money & Banking

Lira weakens

ISTANBUL: Turkey's lira weakened to a fresh record low against the dollar on Tuesday, after Ankara's relations with...

Updated 28 Oct, 2020 05:04am

Currency

MCB Bank profit up by 39pc for nine months

LAHORE: The Board of Directors of MCB Bank Limited (MCB) met under the Chairmanship of Mian Mohammad Mansha, on...

Updated 28 Oct, 2020 05:04am

World

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

COLOMBO: China warned the United States not to "coerce and bully" Sri Lanka as US Secretary of State Mike Pompeo...

Updated 28 Oct, 2020 05:02am

Presidential reference: 7-member SC bench to take up review petitions today

ISLAMABAD: The apex court on Tuesday was requested to place review petitions before the same bench, which heard the...

Updated 28 Oct, 2020 05:00am

South Africa plan first cricket tour of Pakistan in 12 years

JOHANNESBURG: Cricket South Africa (CSA) announced on Tuesday it will send a security assessment delegation to...

Updated 28 Oct, 2020 05:00am

Surge in coronavirus cases: SAPM warns govt will impose strict restrictions

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Health Dr Faisal Sultan has said that imposing strict...

Updated 28 Oct, 2020 05:00am

Jurisdiction of IG: SC urged to restrain ministries from interfering

ISLAMABAD: The Supreme Court was urged to direct the Ministry of Interior and the Ministry of Defence not to...

Updated 28 Oct, 2020 04:58am

8 pupils killed, 100 injured in seminary blast

PESHAWAR: At least eight students of a religious seminary were killed and around 100 others injured when a powerful...

Updated 28 Oct, 2020 04:58am

Currency

Pak-Afghan trade, investment forum ends with inclusive recommendations

ISLAMABAD: Pakistan-Afghanistan Trade and Investment Forum 2020 in its concluding session gave comprehensive...

Updated 28 Oct, 2020 04:56am

Opinion

Digitizing economy

"Thanks to broadband connectivity, a rice growing village in Thailand saw its profits soar by 300 percent as it ...

Updated 28 Oct, 2020 03:21am

Exchange

Investing in technology sector-a primer-II

The Part I of this series of articles on investing in information and communications technology (tech) sector...

Updated 28 Oct, 2020 03:21am

Opinion

Partly Facetious: Opposition's media doing a good job

"Proverbs lose their relevance over time." "I don't quite agree - proverbs basic premise is human nature and that...

Updated 28 Oct, 2020 03:21am

Exchange

Essential commodities: PM vows again to bring down prices

ISLAMABAD: Prime Minister Imran Khan has, once again, vowed to bring down the prices of essential commodities, and...

Updated 28 Oct, 2020 03:21am

Moody's assigns maiden CFR of B3 to Wapda

ISLAMABAD: Moody's Investors Service (Moody's) has assigned a first-time corporate family rating (CFR) of B3 to ...

Updated 28 Oct, 2020 03:21am

Business & Finance

Pandemic pummelling foreign investment: UN

GENEVA: The coronavirus crisis is expected to drag foreign direct investment down by up to 40 percent this year, ...

Updated 28 Oct, 2020 03:21am

PM approves setting up of 120 accountability courts

ISLAMABAD: The federal government to establish 30 new Accountability Courts (ACs) out of 120, while the remaining...

Updated 28 Oct, 2020 03:21am

Additional power for summer 2021: KE urges government to finalise arrangement

ISLAMABAD: Karachi Electric (KE) has urged thr federal government to finalise arrangements for additional power from...

Updated 28 Oct, 2020 03:21am

Exchange

MoF says unable to extend Rs 350 billion subsidy to ISP

ISLAMABAD: Ministry of Finance (MoF) has reportedly expressed its inability to extend subsidy of Rs 350 billion to...

Updated 28 Oct, 2020 03:21am

AMD buys computer chip rival Xilinx for $35 billion

NEW YORK: Advanced Micro Devices said Tuesday it had struck a deal to buy computer chipmaking rival Xilinx in a $35...

Updated 28 Oct, 2020 03:21am

PC facing challenges in SOE sell-off process

ISLAMABAD: Privatisation Commission (PC) has acknowledged that it is facing serious challenges in sell-off process ...

Updated 28 Oct, 2020 03:21am

Business & Finance

3M results again boosted by mask sales

NEW YORK: Earnings for 3M were again supported Tuesday by strong demand for protective masks to counter the...

Updated 28 Oct, 2020 03:21am

Business & Finance

EU-Vietnam FTA, expiry of GSP+ may hit Pakistani exports

ISLAMABAD: Pakistani exporters fear that a Free Trade Agreement (FTA) between Vietnam and European Union (EU) and...

Updated 28 Oct, 2020 03:21am

Industry

WASA may cut industrial tariff

LAHORE: Vice Chairman Water and Sanitation Authority (WASA) Imtiaz Mehmood has said that cut in industrial water...

Updated 28 Oct, 2020 03:21am

Pakistan

Sukkur-Multan Motorway: 'Issue of double tax, traffic to be resolved within a week'

ISLAMABAD: The Senate Standing Committee on Communications was informed that the issue of double tax and traffic on...

Updated 28 Oct, 2020 03:21am

Business & Finance

Government has no plan to review methodology used for calculating inflation indices

ISLAMABAD: "The government has currently no plans to review the methodology used for calculating inflation indices...

Updated 28 Oct, 2020 03:20am

Pakistan

Black Day marked in Lahore to express solidarity with Kashmiris

LAHORE: Punjab Governor Chaudhry Muhammad Sarwar and Chief Minister Sardar Usman Buzdar along with a large number of...

Updated 28 Oct, 2020 03:20am

Grains

Elahi seeks minimum wheat price at Rs 2,000/maund

LAHORE: Terming the increase in wheat support price by Rs 200 as a joke with the farmers, Speaker Punjab Assembly...

Updated 28 Oct, 2020 03:20am

Pakistan

President inaugurates 'Corona Heroes Wall'

LAHORE: President of Pakistan Dr. Arif Alvi, while inaugurating 'Corona Heroes Wall', here at Governor House to pay...

Updated 28 Oct, 2020 03:20am

Pakistan

Rs 176.9 billion recoveries made from federal government deptts in 1Q: AGP

ISLAMABAD: The Office of the Auditor General of Pakistan (AGP) said on Tuesday that Rs176.9 billion recoveries have...

Updated 28 Oct, 2020 03:20am

Pakistan

Mengal, Maryam discuss PDM future, political situation

LAHORE: Balochistan National Party-Mengal head Sardar Akhtar Mengal met PML-N vice-president Maryam Nawaz at her...

Updated 28 Oct, 2020 03:20am

Ready for talks if India ends Kashmir siege: PM

ISLAMABAD: Prime Minister Imran Khan said on Tuesday that he would continue to support the people of Kashmir to...

Updated 28 Oct, 2020 03:20am

Pakistan

EFP holds virtual OSH event with AOTS Japan

KARACHI: The Employers' Federation of Pakistan organized a virtual seminar in collaboration with The Association for...

Updated 28 Oct, 2020 03:20am

Pakistan

TDAP holds awareness webinar on CPFTA phase-II

SIALKOT: The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) organised an awareness webinar...

Updated 28 Oct, 2020 03:20am

Pakistan

Public holiday

KARACHI: The State Bank of Pakistan and all banks will remain closed on October 30, 2020 (Friday), the 12th...

Updated 28 Oct, 2020 03:20am

Pakistan

Sugar import through TCP: First batch to reach Port Qasim today

LAHORE: Vessel carrying first batch of 25,000 metric tons of sugar being imported by the Punjab government to meet...

Updated 28 Oct, 2020 03:20am

Life & Style

Aaj TV - Wednesday's schedule

All timings are in PST (Pakistan Standard Time). 06:00 NEWS HOUR 06:25 HEADLINE NEWS 06:30 NEWS HOUR 06:55 HEADLINE...

Updated 28 Oct, 2020 03:20am

Commodities

Iron ore hits 4-week low on rising China's port stocks

MANILA: Iron ore futures hit a four-week low on Monday, as China's portside inventory piled up to its highest since...