News Archives for Latest - 2020-10-29

Editorials

India’s failed Kashmir policy

EDITORIAL: As the besieged Kashmiris and Pakistan inundate India with protests against its bloody oppression in the...

Updated 03 Nov, 2020 01:56pm

Exchange

KE suffers Rs2.96bn revenue loss for COVID-19

In spite of these financial challenges emerged after spread of COVID-19 pandemic, over Rs. 55 billion had been invested by the company across the generation, transmission and distribution businesses.

Published 29 Oct, 2020 11:41pm

Pakistan

Mazari underlines need of implementing law

The minister said she came there to express solidarity with the victims family and punishment should be given to those involved in child abuse as per law of the land.

Published 29 Oct, 2020 11:40pm

Pakistan

UN must introduce legislation against disrespect to religious beliefs: Governor Punjab

The Governor Punjab, to a question, said India’s relations with all its neighbors have turned sour and it has emerged as an extremist state.

Published 29 Oct, 2020 11:38pm

Pakistan

PML-N playing politics of hypocrisy for personal gains: Ali Nawaz

He asked the opposition parties to highlight genuine issues of the common man in Parliament which was best forum to address the matters.

Published 29 Oct, 2020 11:36pm

Pakistan

PML-N hatching conspiracies against national institutions: Vawda

He said that legal action should be taken against him to discourage such practices in future.

Published 29 Oct, 2020 11:36pm

Pakistan

Ayaz Sadiq's statement have hurt people, Pak Army's sentiments: Sheikh Rashid

Sheikh Rashid said India had telecast his statement as the breaking news and Ayaz Sadiq was fully prevailing in the Indian media after giving anti-state version.

Published 29 Oct, 2020 11:32pm

Industry

Exxon Mobil to cut 1,900 US jobs as Covid-19 hits oil prices

The company about 88,000 workers at the end of 2019, including just under 75,000 employees and around 13,300 contract workers, an ExxonMobil spokesman said.

Published 29 Oct, 2020 11:29pm

Pakistan

Senator Faisal Javed resigns from Pak-France Parliamentary Group convenership

Faisal Javed said the prime minister had also adopted a clear stance on this unfortunate issue and taken an unambiguous position informing the Muslim leaders globally.

Published 29 Oct, 2020 11:27pm

Pakistan

Ayaz, Asif pushing PML-N into blind alley: Shahzad

He, in a tweet, said it was extremely regrettable that they both (Ayaz & Asif) were telling lies for the slavery of a family.

Published 29 Oct, 2020 11:24pm

Pakistan

Karachi has special importance in development of construction sector: PM

He was presiding over a weekly meeting of the National Coordination Committee on Housing, Construction and Development here.

Published 29 Oct, 2020 11:23pm

Pakistan

Opposition carrying out anti-state narrative: Shibli Faraz

The minister said opposition had started to malign the national institutions when it was failed to get any relief from the government in different corruption cases.

Published 29 Oct, 2020 11:21pm

Pakistan

Joint strategy to be evolved in OIC meeting on future ties with France: Qureshi

The Muslims, Qureshi stated, were residing across the world, including France and they were much concerned on the publication of profane caricatures.

Published 29 Oct, 2020 11:19pm

Pakistan

IHC sends another case for ties with France to cabinet

The bench observed that it was an issue of foreign policy and only the government had to take any decision on it.

Published 29 Oct, 2020 11:17pm

Pakistan

K-Electric pays compensation to electrocuted victims’ families: Senate body told

The Committee took strong notice of the fact that a house in Mansehra District, despite completing all requisite requirements was not being given an electricity connection.

Published 29 Oct, 2020 11:15pm

Pakistan

NHA evolves mechanism to check price, quality of items at Motorway shops

He said efforts were underway to make Intelligent Transport System (ITS) along Multan-Sukkur Motorway (M-5) operational.

Published 29 Oct, 2020 11:13pm

Mutual Funds

The Blood Bath

Why did PSX collapse in one day? Who was buying and who was selling?

Updated 29 Oct, 2020 09:48pm

Companies

Exxon Mobil's fading star: no longer the biggest US energy company

Shares are at a two-decade low, down 55% this year. The company's stock was removed from the storied Dow Jones Industrial Average.
The company's cash balance could be depleted if US oil remains below $45 a barrel due to its debt.

Published 29 Oct, 2020 08:30pm

Forex

Latam FX fails to shake off virus, election worries

Brazil's real fell 0.4%, a day after the country's central bank kept its key interest rate at a record-low 2.00%.
The tone of the accompanying statement was a bit less dovish than the previous one.

Published 29 Oct, 2020 08:28pm

Financial

Yields little changed by jump in GDP, fall in jobless claims

The American economy grew at a record pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief.
"It's the largest GDP quarter on record after the smallest," said Justin Lederer, Treasury trader and analyst at Cantor Fitzgerald.

Published 29 Oct, 2020 08:26pm

Currency

Credit Suisse planning further hires in wealth, investment bank tie-up

We've hired Christian Meissner to lead this new unit that will step up the offer we have for large ultra-high net worth clients in the investment banking space.
There will be more hires," Mathers said, adding these might be expected to fall in the magnitude of several tens.

Published 29 Oct, 2020 08:25pm

Commodities

Russian wheat offered lowest in Ethiopia's 400,000 tonne wheat tender

The offer was made by a local trading house. The tender had closed earlier in October with the technical aspects of offers submitted before prices.
rices offered by mainstream trading houses were mostly around $320 a tonne c&f including transport to inland destinations in Ethiopia.

Published 29 Oct, 2020 08:23pm

Forex

Euro falls to four-week low as ECB flags easing in December

ECB keeps rates unchanged, but signals action in December.
US GDP rises at record pace in Q3.

Updated 29 Oct, 2020 08:23pm

Stocks

Lockdown blues shove stocks, oil back into the red

European stocks choppy, e-mini S&P 500 futures fade.
Oil falls again, dollar grinds higher.
Volatility gauges elevated as US election looms.
ECB signal support coming.

Published 29 Oct, 2020 07:51pm

Stocks

S&P 500, Nasdaq rise after upbeat economic data

Tapestry jumps after earnings beat estimates.
Pinterest soars after results, lifting social media cos.
Apple, Amazon, Alphabet, Facebook rise ahead of results.
Indexes: Dow down 0.3%, S&P up 0.1%, Nasdaq up 0.5%.

Published 29 Oct, 2020 07:49pm

Energy

US natgas hits 21-month high on roll to higher-priced December contract

Thursday's price action came ahead of a federal report expected to show what could be the last weekly storage injection of the year.
Oil prices fell over 5% to their lowest since May on the potential impact renewed coronavirus lockdowns will have on oil demand.

Published 29 Oct, 2020 07:47pm

Commodities

Vietnam export rates rise as floods and landslides hit supply

Bangladesh to double domestic rice procurement.
Shortage of rail cars, port congestion hits Indian traders.
Rates for Indian variety ease to $370-$375/tonne.

Published 29 Oct, 2020 07:44pm

Money & Banking

ECB to ‘recalibrate’ stimulus tools as pandemic deepens

Policy unchanged, hints at stimulus to come.
Warns about growth risks.
Outlook deteriorating amid lockdowns.

Published 29 Oct, 2020 07:43pm

Energy

Gulf OPEC, Iraq question whether to keep deep oil cuts into 2021

The UAE and Kuwait have traditionally supported Riyadh's position, but both nations are feeling the heat of tight oil policies in 2021.
The countries are being suffocated with those cuts, it is very tough to continue with them next year too.

Published 29 Oct, 2020 07:39pm

Middle East

Saudi Arabia says will open Umrah pilgrimage to Muslims from abroad from Nov 1

The Umrah pilgrimage is allowed for Muslims from across the world.
The Saudi-owned, Dubai-based TV channel Al-Arabiya said Umrah will be allowed from Nov. 1
Saudi Arabia closed its borders in February to foreign Umrah pilgrims, and in March stopped its own citizens and residents

Published 29 Oct, 2020 07:37pm

Commodities

Gold slips to 1-month low as dollar gains upper hand

Spot gold was 0.5% lower at $1,868.00 per ounce.
You currently see a move out of the risky assets into safe havens, but the safe haven has been the US dollar.

Published 29 Oct, 2020 07:34pm

Financial

Italian bond yields fall as ECB hints at December stimulus

The European Central Bank left policy unchanged at a meeting on Thursday as expected, but provided the clearest hint yet of fresh easing at its next meeting in December.
"The door for December action is wide open."

Published 29 Oct, 2020 07:32pm

Companies

Roche to make hundreds of millions of COVID-19 rapid tests monthly

The market is totally sold out,
governments are increasingly turning to as global COVID-19 cases skyrocket and swamp test centres .

Published 29 Oct, 2020 07:31pm

Industry

Vodafone Idea Q2 revenue slips on subscriber losses

The company's subscriber base slipped to 271.8 million subscribers as of September-end from 311.1 million subscribers a year ago.
Consolidated revenue fell to 107.91 billion rupees from 108.44 billion rupees a year earlier.

Published 29 Oct, 2020 07:14pm

USA

New US weekly jobless claims fall to 751,000

The number of people receiving aid under that program climbed to nearly 3.7 million in the week ended October 10.

Published 29 Oct, 2020 07:25pm

Currency

ECB paves way for December stimulus as lockdowns return

Based on its September forecasts, the ECB expects eurozone inflation to inch up to 1.3 percent by 2022, still far off the official target.

Published 29 Oct, 2020 07:23pm

Forex

Canadian dollar turns lower for the month as oil slumps

Canadian dollar falls 0.4% against the greenback.
Loonie touches a four-week low at 1.3380.
Price of US oil falls nearly 6%.
Canadian bond yields trade mixed across a flatter curve.

Published 29 Oct, 2020 07:12pm

Energy

Libya oil production at 680,000 barrels per day

Libya's National Oil Corp (NOC) on Monday ended force majeure on the last facilities closed by an eight-month blockade of oil exports by eastern forces.
The current output level marks a jump from around 500,000 bpd earlier this month.

Published 29 Oct, 2020 07:10pm

Africa

South Africa's wage freeze plan hinged on ‘difficult’ negotiations, says Fitch

The success of the plan "will depend crucially on difficult negotiations with public sector trade unions,"
Freezing civil servants' salaries will put the governing party on a collision course with its labour union allies.

Published 29 Oct, 2020 07:07pm

Europe

ECB's Lagarde says COVID-19 clearly worsening near-term economic outlook

While stimulus measures taken by the ECB since March are helping to underpin economic activity.
Risks are "clearly" tilted to the downside, she told the bank's post-meeting news conference.

Published 29 Oct, 2020 07:05pm

Energy

Oil extends losses with 6pc slump on renewed lockdowns

Renewed restrictions in France and Germany threaten demand.
Libya oil production rises to 680,000 bpd.
Hurricane Zeta impact on oil output to be short-lived.

Published 29 Oct, 2020 07:03pm

Exchange

Rupee gains 29 paisas against US dollar

The buying and selling rates of dollar were recorded at Rs 160 and Rs 160.8 respectively.

Published 29 Oct, 2020 07:03pm

USA

US pending home sales fall in September

The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month.
Pending home sales increased 20.5% from a year ago.

Updated 29 Oct, 2020 07:03pm

Pakistan

USA, UK, Germany remain top three destinations of Pakistani exports during Q1

Total exports to USA during July-September (2020-21) were recorded at US $1047.748 million against the exports of US $1053.767 million during July-September (2019-20).

Published 29 Oct, 2020 07:00pm

Business & Finance

Attock Refinery Limited Clarification

This is apropos to a Business Recorder Web item "Despite sales decline, Attock Refinery Limited PAT rise by 21pc"...

Published 29 Oct, 2020 06:31pm

World

India formally protests Saudi commemorative banknote, for exclusion of IOJK from country's map

India has launched a formal protest against the representation of the Indian map on the 20 Riyal banknote, which excluded Occupied Jammu & Kashmir and Ladakh from India in its global map.

Updated 29 Oct, 2020 06:30pm

Business & Finance

Samsung Electronics Q3 net profit leaps after Huawei boost

Operating profit rose 58.7 percent to 12.35 trillion won. Sales rose 8 percent to 66.96 trillion won -- a record for any quarter.

Published 29 Oct, 2020 06:24pm

Business & Finance

Panasonic interim net profit halves as virus hits sales

Sales sank 20.4 percent at 3.1 trillion yen.

Published 29 Oct, 2020 06:22pm

Business & Finance

VW steers back to profit in third quarter

VW said it sold 2.6 million vehicles worldwide in the third quarter, 1.1 percent fewer than in the corresponding period a year earlier.

Published 29 Oct, 2020 06:21pm

Energy

Oil giant Shell rebounds into profit in third quarter

Shell has already announced that it is seeking to axe up to 9,000 jobs or more than 10 percent of its global workforce.

Published 29 Oct, 2020 06:19pm

Business & Finance

Nokia doubles Q3 net profit and pledges 'to win' at 5G

Nokia reported on Thursday that factory closures earlier in the year due to the Covid-19 pandemic cost it around 200 million euros.

Published 29 Oct, 2020 06:17pm

Money & Banking

Bank of Japan cuts growth outlook, holds monetary policy

For the year to March 2021, the BoJ expects the economy to shrink 5.5 percent, against a 4.7 percent contraction in the July estimate.

Published 29 Oct, 2020 06:16pm

USA

Mexico passes 90,000 virus deaths, Argentina records 30,000

Mexico has the fourth-highest death toll in the world and recorded another 495 fatalities.
Argentina's health ministry reported a new total of 30,071 deaths in the country.

Published 29 Oct, 2020 06:14pm

Money & Banking

British bank Lloyds swings back to profit

Annual writedowns linked to pandemic would be at the lower end of its previous forecast range of £4.5-5.5 billion.

Published 29 Oct, 2020 06:12pm

Business & Finance

Airbus flies into red in third quarter

Earnings were hit by a restructuring charge of 1.2 billion euros related to the decision to axe 15,000 jobs.

Published 29 Oct, 2020 06:10pm

Middle East

Lebanon, Israel in new day of maritime border talks

Lebanon in April said initial drilling in Block 4 had shown traces of gas but no commercially viable reserves.

Published 29 Oct, 2020 06:08pm

Business & Finance

3rd Round of Tech Industry Surveys Are Open - Integrating Tech Data with Policy

Jawwad Farid’s Pakistan Technology Industry Survey invites the technology community to contribute to its 3rd round of surveys to create unique data for better decision-making in the technology industry.

Published 29 Oct, 2020 06:09pm

Commodities

Copper slides as demand concerns resurface

There has been an astounding deterioration in the coronavirus situation pretty much around the world, with the Far East being a notable exception.
"If Trump wins, metals could sell off because things will stay tense with China."

Published 29 Oct, 2020 05:59pm

South Asia

India passes eight million coronavirus cases

India has one of the world's lowest death rates and the government has highlighted the slowing number of new infections in recent weeks.

Published 29 Oct, 2020 06:06pm

Europe

German unemployment falls in October

On a 12-month basis, around 556,000 more people were unemployed compared with the same point in the previous year.

Published 29 Oct, 2020 06:05pm

Middle East

US defence secretary to meet Israeli counterpart

Esper's stop in Israel, less than a week before a US presidential election, comes after he held two days of meetings in India.

Published 29 Oct, 2020 06:03pm

Exchange

Credit Suisse says profits down in third quarter

The bank's net revenue was down two percent at 5.2 billion Swiss francs.

Published 29 Oct, 2020 06:02pm

Europe

France, Germany head to lock down as virus surges in Europe

Chancellor Angela Merkel has ordered a lighter round of shutdowns from Monday, November 2, until the end of the month.

Published 29 Oct, 2020 05:59pm

Industry

Tesla plans to open about 52 new service centers in 2021

The electric carmaker has been expanding its network of service centers and Superchargers to keep up with its growing fleet.
"Service could be particularly important as Tesla continues to try to expand outside its core market."

Published 29 Oct, 2020 05:55pm

Africa

'Time is now' to prepare for virus second wave: Africa CDC

Kenya has experienced average weekly increases of 45 percent over the past four weeks.
Sierra Leone has seen average weekly decreases of 21 percent.

Published 29 Oct, 2020 05:57pm

Industry

India's top carmaker misses Q2 profit estimates, flags demand uncertainty

The company, which in July reported its first quarterly loss since listing in 2003 after the coronavirus-led lockdown stopped sales.
Maruti, which sells every second car in the country, saw an 18.6% jump in domestic car sales to 370,619 units.

Published 29 Oct, 2020 05:52pm

World

'Moderate to strong' La Nina this year: UN

The last La Nina, which was brief and relatively weak, began developing in November 2017 and ended in April 2018, according to WMO.

Published 29 Oct, 2020 05:53pm

Companies

ExxonMobil not to set up LNG terminal in Pakistan

“ExxonMobil is evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term as a result of market conditions and commodity price decreases,” said Exxon spokesperson while talking to Business Recorder.

Published 29 Oct, 2020 05:51pm

Pak Army gave India a ‘bloody nose and it is still hurting’, DG ISPR counters former NA speaker Ayaz Sadiq's recent speech

He said no one can divide Pakistan Army’s leadership, rank and file.

Updated 29 Oct, 2020 05:52pm

Financial

Ant Group's Shanghai retail book for $34.4bn listing 872 times oversubscribed

Ant is poised to raise about $17.2 billion on Shanghai's STAR Market and roughly the same in Hong Kong.
The oversubcription equates to investment interest of about 4 trillion yuan ($596.76 billion).

Published 29 Oct, 2020 05:49pm

Companies

Moderna says preparing for launch of experimental coronavirus vaccine

The Cambridge, Massachusetts-based company has signed deals with the US government and several other countries.
Moderna, which has no approved products on the market yet, is one of the handful of companies in final trials for the vaccine

Published 29 Oct, 2020 05:46pm

Companies

Sony, OmniVision receive US licences to export sensors to Huawei

US curbs on Huawei Technologies, which cite security concerns, have banned global suppliers from selling it chips, including image sensors.
The report said the licence granted to Sony could be limited only to a portion of its products.

Published 29 Oct, 2020 05:39pm

Europe

Putin says no plans for lockdown despite record cases

Russia on Thursday set a record for new coronavirus cases and deaths, with health officials reporting 17,717 new infections and 366 fatalities.

Published 29 Oct, 2020 05:43pm

South Asia

China pushes domestic economy, tech power in five-year plan

China accounts for a quarter of the planet's greenhouse gases and has relied heavily on coal to spur development.

Published 29 Oct, 2020 05:41pm

Energy

ConocoPhillips posts smaller-than-expected loss as oil prices recover

Crude prices began recovering in the third quarter after a number of countries started easing their months-long cornonavirus-led lockdowns.
Concho Resources had earlier this week reported a small decline in its third-quarter production.

Published 29 Oct, 2020 05:35pm

Energy

TC Energy sees higher costs for Coastal Gaslink pipeline

The Coastal Gaslink pipeline, which will deliver natural gas from Montney to LNG Canada's liquefaction facility under construction near Kitimat.
TC Energy also reiterated that its controversial Keystone XL pipeline, which has been delayed for more than a decade due to opposition from landowners,

Published 29 Oct, 2020 05:31pm

Currency

Newmont Corp quarterly profit more than doubles as gold prices rise

Gold prices touched record highs during the quarter as a slowdown in economic activities and surging coronavirus cases sent investors to the precious metal.
Net income from continuing operations fell to $611 million, or 76 cents per share, from $2.3 billion, or $2.71 per share.

Published 29 Oct, 2020 05:28pm

Currency

Lazard quarterly profit beats estimates on M&A recovery

Dealmaking activity spiked to a record $1 trillion in the third quarter. But mergers and acquisitions (M&A) deals overall were down 21% at $2.2 trillion in the first nine months of 2020.
You don't need necessarily an optimistic outlook on the economy.

Published 29 Oct, 2020 05:21pm

Forex

Dollar extends gains, commodity currencies slump, euro falls ahead of ECB meeting

France and Germany ordered their countries back into lockdown, after Europe's death rate jumped 37% last week.
The dollar looks like it's starting to trade independently of risk appetite and more on the US election story.

Updated 29 Oct, 2020 05:21pm

Companies

Jazz condemns sealing of its office, says FBR move hurt its ‘Reputation & Pride’

“Due to the drastic measures our corporate reputation and pride has been hurt and shakes the confidence of foreign investors of Jazz and others," says Jazz.

Published 29 Oct, 2020 05:00pm

Exchange

PSX takes a beat down, KSE-100 drops over 1,200 points

The PSX ended on a negative note, with the benchmark KSE-100 index losing 1298.42 points, or 3.15%, as the trading session hit 39,888.44 points.

Updated 29 Oct, 2020 04:34pm

Pakistan

PM meets COAS, says entire nation is united against 'cowardly acts of the enemy'

The two discussed professional matters pertaining to Pakistan Army, internal and external security situation.

Published 29 Oct, 2020 03:02pm

Europe

Three killed and several injured in knife attack at French church

A knifeman has killed three people and injured several others in an attack inside the Notre-Dame Basilica, with police describing the scene as a “vision of horror”, as one of the victims was reportedly beheaded.

Published 29 Oct, 2020 03:12pm

Perspectives

CPEC and Gwadar Port: A Maritime Perspective

Pakistan and China signed various infrastructure and energy projects as part of China Pakistan Economic Corridor...

Published 29 Oct, 2020 02:30pm

Life & Style

Khloe Kardashian confirms she had coronavirus

The video clip was released a day after her sister, Kim Kardashian West, drew hefty criticism for celebrating her lavish 40th birthday vacation with a large group.

Published 29 Oct, 2020 02:13pm

Lahore administration seals 35 shops, 5 restaurants for violating COVID-19 SOPs

The administration has imposed 491 micro smart lockdowns across the province.

Published 29 Oct, 2020 02:12pm

Pakistan

Google’s CS programme launched in Pakistan

The programme is aim to help kids – aged between nine and 14 years – learn coding along with other IT skills, the Information ministry said in a statement.

Published 29 Oct, 2020 02:00pm

Perspectives

A Province-Centric Approach to Improve the National Power System

The new SAPM for Power, Tabish Gohar, announced the government’s current thinking for reforming of the 10 (ten)...

Published 29 Oct, 2020 01:50pm

Companies

Impressive Year for Bestway Cement: Profits Rise by Almost 500%

Bestway Cement Limited witnessed a stellar increase of almost 500% in profits after tax during the third quarter of the current financial year.

Published 29 Oct, 2020 01:43pm

Pakistan

Sindh unclear over closer of schools amid second COVID-19 wave

“Keeping in view the surge in COVID-19 cases, we don't know yet if and when schools will be closed again,” says Saeed Ghani.

Published 29 Oct, 2020 01:26pm

Companies

Toyota Indus Motor Profits Rise by an Impressive 40pc

Toyota Indus Motor had a stellar year with a 40pc increase in profits after tax during the third quarter of the current financial year.
Company’s revenue increased by 65% from a surge in car prices and sales this year.

Published 29 Oct, 2020 01:15pm

Business & Finance

Saudi Arabia plans to end the decade old ‘kafala’ system

The report added that the changes were to be unveiled earlier this year but were delayed due to the emergence of coronavirus pandemic.

Published 29 Oct, 2020 12:16pm

Exchange

Amidst growing violence, Taliban and U.S. representatives discuss the terms of their agreement

A meeting was held yesterday between Mullah Abdul Ghani Baradar, one of the key leadership figures in the Taliban, and the United States' Special Representative for Afghanistan Zalmay Khalilzad, also accompanied by General Austin Miller, the Commander of the NATO's Resolute Support Mission in Afghanistan.

Updated 29 Oct, 2020 12:16pm

Business & Finance

FBR seals Jazz head office for non-payment of over Rs 25bn taxes

FBR in an order stated that the Income Tax amount of Rs 25,393,653,480 is outstanding against the defaulter (Jazz) while the defaulter is refraining itself “deliberately, dishonestly and without lawful excuse to discharge tax liability and thus causing huge loss to the national exchequer.”

Updated 29 Oct, 2020 11:57am

Pakistan

Punjab to provide health cards to citizens, PM announces

The PM directed the Punjab government to initially enroll widows, transgenders, and all low-income families.

Published 29 Oct, 2020 11:56am

Pakistan

ATC acquits PM Imran in Parliament House attack case

He has already been acquitted in the former senior superintendent police Asmatullah Junejo torture case.

Updated 29 Oct, 2020 11:41am

Currency

Benami Transactions: Authorities initiate investigation of five sugar mills

As far as the rest of the sugar mills are concerned, the information will be gathered including information from the banks and proceedings will be started after concluding the already initiated cases.

Published 29 Oct, 2020 11:29am

Kerb

'Who the hell elected you?' U.S. Senate tech hearing becomes political showdown

Lawmakers are split on ways to hold Big Tech accountable under Section 230 of the Communications Decency Act - which protects companies from liability over content posted by users but also lets the firms shape political discourse.

Published 29 Oct, 2020 11:11am

Business & Finance

PoS Integration: FBR signs MoU with Chain Stores Association

FBR said that this development provides for incentives to the retailers who voluntarily integrate with FBR’s system by 30th November 2020.

Published 29 Oct, 2020 11:04am

Technology

Apple steps up efforts to create its own ‘search engine’

Earlier, in the iPhone operating system, the web browser 'Safari' used to search for information on any object and reach the desired link through the Google search engine.

Published 29 Oct, 2020 10:40am

Business & Finance

Ant Group curbs support for overseas partners in strategy rethink ahead of listing

The shift in strategy by the Alibaba-backed fintech giant came late in 2019, brought on by a change at the helm and a reworking of priorities as it planned for its IPO and grappled with regulatory challenges at home.

Published 29 Oct, 2020 10:25am

Currency

Vote and virus: volatile markets bring reminder of March turmoil

A selloff in March wiped a third off the value of U.S. stock indexes over a three-week period and the premium for cash dollars hit multi-year highs as the pandemic slammed markets and locked down economies.

Published 29 Oct, 2020 10:18am

Business & Finance

Oil climbs as hurricane shuts U.S. output, bouncing back from 5% slide overnight

U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.8%, to $37.68 a barrel at 0120 GMT, while Brent crude futures rose 25 cents, or 0.6%, to $39.37 a barrel.

Published 29 Oct, 2020 10:15am

Technology

Microsoft detects cyberattacks from Iran-linked actor engaged in intelligence collection

Microsoft said in a blog, adding it believed Phosphorus is engaging in these attacks for intelligence collection purposes.

Published 29 Oct, 2020 10:11am

COVID-19 positivity ratio higher than 3% as country reports 908 cases

The novel virus also claimed 16 lives in the last 24 hours.

Published 29 Oct, 2020 10:03am

BR Research

Fast-tracking finclusion

Despite the hype about digital payments and financial inclusion, it appears that save for some exceptions, most...

Published 29 Oct, 2020 07:58am

BR Research

MCB’s wrinkle free performance

One tough quarter has not deterred MCB Bank Limited (MCB) from posting a massive 41 percent year-on-year growth in...

Published 29 Oct, 2020 07:57am

BR Research

HUBC – CPHGC driving growth

Hub Power Company Limited’s (PSX: HUBC) coal investments are surely driving the profitability. The power...

Published 29 Oct, 2020 07:57am

BR Research

PPL – 1QFY21 simple and maintained

It could easily be called a non-event quarter for Pakistan Petroleum Limited (PSX: PPL) with flat earnings growth ...

Published 29 Oct, 2020 07:56am

Exchange

Loads Limited

Loads Limited (PSX: LOADS) was established as a private limited company in 1979. Later, in 1994 it was converted ...

Published 29 Oct, 2020 07:20am

Life & Style

AAJ PROGRAM SCHEDULE

Thursday, October 29, 2020 TIMING PROGRAM TITLE

Updated 29 Oct, 2020 04:41am

Pakistan rejects joint US-India statement

ISLAMABAD: Pakistan on Wednesday rejected the “unwarranted and misleading” reference in Joint Statement issued ...

Updated 29 Oct, 2020 04:41am

Highest in history: Zain Malik’s plea bargain approved by accountability court

ISLAMABAD: The Accountability Court has approved plea bargain of accused, Zain Malik, son-in-law of Malik Riaz, in...

Updated 29 Oct, 2020 04:41am

Covid-19: LTO, RTO Islamabad sealed after two deaths

ISLAMABAD: The Office of the Director General Health here on Wednesday sealed the buildings of Large Taxpayers ...

Updated 29 Oct, 2020 04:41am

KE says issues of receivables, payables required to be resolved for its sustainability

ISLAMABAD: Karachi Electric (KE) said on Wednesday that its sustainability will be in jeopardy if issues related to...

Updated 29 Oct, 2020 04:41am

Cabinet places SIDCL under planning ministry for a year

ISLAMABAD: The Cabinet has decided to place Sindh Infrastructure Development Company Limited (SIDCL) under Ministry...

Updated 29 Oct, 2020 04:41am

Turkey to take legal, diplomatic steps against French caricature of Erdogan

ISTANBUL: Turkey said on Wednesday it will take legal and diplomatic steps in response to a caricature of President...

Updated 29 Oct, 2020 04:41am

Business & Finance

UK, India strengthen economic ties including on Covid

LONDON: Britain and India have agreed to strengthen economic ties, including over financial services and coronavirus...

Updated 29 Oct, 2020 04:41am

COAS says terrorists have no religion

RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa on Wednesday said that the attack on madressa is...

Updated 29 Oct, 2020 04:41am

Pakistan

PPP’s Rabbani demands President’s resignation

ISLAMABAD: Former chairman Senate and Pakistan Peoples Party (PPP) stalwart Mian Raza Rabbani said that President Dr...

Updated 29 Oct, 2020 04:41am

Pakistan

IHC informed: Five Indian convicted of espionage released, repatriated to India

ISLAMABAD: The Ministry of Interior on Wednesday apprised the Islamabad High Court (IHC) that five Indian prisoners,...

Updated 29 Oct, 2020 04:41am

Pakistan

Imran Ismail, Umer Ayub visit Hyderabad

HYDERABAD: The Governor Sindh Imran Ismail along with Federal Minister for Power, Petroleum and Natural Resources...

Updated 29 Oct, 2020 04:41am

Pakistan

Nepra holds breast cancer awareness session

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) organized a breast cancer awareness session at...

Updated 29 Oct, 2020 04:41am

Land ownership laws in IIOJK: Pakistan rejects illegal amendments by India

ISLAMABAD: Pakistan has categorically rejected the Indian government's illegal amendments to land ownership laws in...

Updated 29 Oct, 2020 04:41am

ADB says PPP environment still evolving

ISLAMABAD: The Public Private Partnership (PPP) environment in Pakistan was still evolving, and, despite government...

Updated 29 Oct, 2020 04:41am

Umar says NEC must review overall conditions

ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar said that the National Economic...

Updated 29 Oct, 2020 04:41am

Three new wells: ECC gives approval to allocation of gas

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has given approval to allocation of another 38...

Updated 29 Oct, 2020 04:41am

PM calls for collective Muslim action against Islamophobia

ISLAMABAD: Prime Minister Imran Khan on Wednesday wrote a letter to leaders of the Muslim countries for a collective...

Updated 29 Oct, 2020 04:40am

Exchange

PM recognises pharma industry’s forex potential

LAHORE: Prime Minister Imran Khan said on Wednesday that the country’s pharma industry possesses potential to ...

Updated 29 Oct, 2020 04:40am

NCOC tells businesspeople to shut down businesses by 10pm

ISLAMABAD: The National Command and Operations Centre (NCOC) Wednesday issued a fresh warning to business owners,...

Updated 29 Oct, 2020 03:56am

144 imposed in Islamabad

ISLAMABAD: Section 144 was imposed in Islamabad on Wednesday for ensuring strict compliance of standard operating...

Updated 29 Oct, 2020 03:56am

Currency

Biden would face uncertain path to detente with wary Iran

Joe Biden plans to scrap what he calls the “dangerous failure” of President Donald Trump’s maximum pressure...