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Archive - 2020-11-12
Chairman NDMA tests positive for coronavirus
Pakistan

Chairman NDMA tests positive for coronavirus

  • The chairman has conducted coronavirus test from NIH (National Institute of Health) on November 8 and again tested positive on November 9 which was again positive, said NDMA press release.
Published 12 Nov, 2020 11:09pm
BMW CEO says sees Toyota alliance going beyond 2025
Companies

BMW CEO says sees Toyota alliance going beyond 2025

  • In the next decades, we would do well to strengthen bonds,
  • The alliance which currently includes a cooperation deal on fuel cell cars and joint development of a sports-car, should continue beyond 2025, Zipse said.
Published 12 Nov, 2020 08:09pm
US natgas futures ease as output rises with higher oil prices
Energy

US natgas futures ease as output rises with higher oil prices

  • That decline came despite forecasts for cooler weather and higher heating demand over the next two weeks and record liquefied natural gas exports.
  • Front-month gas futures fell 1.7 cents, or 0.6%, to $3.014 per million British thermal units
Published 12 Nov, 2020 07:26pm
CDNS achieves collection of Rs 24bn
Pakistan

CDNS achieves collection of Rs 24bn

  • The CDNS has set Rs 352 billion annual collection target for the year 2019-20 as compared to Rs 350 billion for the previous year’s 2018-19.
Published 12 Nov, 2020 07:24pm
Soy, wheat down 4-6 cents; corn down 3-5 cents
Commodities

Soy, wheat down 4-6 cents; corn down 3-5 cents

  • Wheat lower overnight, with the market focused on rising competition in the export market.
  • Corn lower overnight on technical selling after futures reached their highest since July 2019 on Wednesday.
Published 12 Nov, 2020 07:18pm
Copper prices cling to vaccine hopes
Commodities

Copper prices cling to vaccine hopes

  • Moderna Inc said on Wednesday it had enough data for a first interim analysis of the late-stage trial of its experimental COVID-19 vaccine,
  • Three-month copper on the London Metal Exchange (LME) added 0.6% to $6,925 per tonne.
Published 12 Nov, 2020 06:36pm
Dubai Islamic Bank sells $1 billion in perpetual sukuk
Money & Banking

Dubai Islamic Bank sells $1 billion in perpetual sukuk

  • Overall debt issuance from the Gulf so far this year has already surpassed last year's total, again topping $100 billion.
  • DIB began marketing the notes at around 5.25% earlier on Thursday and received over $5.5 billion in orders for the debt sale.
Published 12 Nov, 2020 06:31pm
Euro zone industry output slips in Sept on weakness in Italy
Business & Finance

Euro zone industry output slips in Sept on weakness in Italy

  • The European Union's statistics office Eurostat said on Thursday that industrial production in the 19 countries sharing the euro fell 0.4% month-on-month in September for a 6.8% year-on-year decline.
  • It also marked the fourth consecutive month of declining production growth from 12.5% in May to 5.3% in July, 0.6% in August and now a slip in September.
Published 12 Nov, 2020 06:24pm
India's top oil refiner runs at full capacity on demand rebound
Energy

India's top oil refiner runs at full capacity on demand rebound

  • IOC has been gradually raising crude runs at its plants, which plunged to about 39% at the beginning of April when a nationwide coronavirus lockdown hit fuel demand.
  • Refining margins are very poor, in fact they are just not sustainable ... but we are also investing heavily in petrochemicals as a strategy to de-risk the business of low margins.
Published 12 Nov, 2020 06:22pm
Djokovic leads cast as London bids farewell to ATP Finals
Sports

Djokovic leads cast as London bids farewell to ATP Finals

  • The ATP's blue-riband event has proved a huge success since it switched to London's cavernous O2 Arena in 2009,
  • Players must live in a strict 'bubble' and even line judges will be missing, replaced by the Hawk-eye live system used recently at the US Open.
Published 12 Nov, 2020 06:17pm
Sterling slips as Britain's economy struggles to maintain recovery
Forex

Sterling slips as Britain's economy struggles to maintain recovery

  • The impact of the number was all the heavier because the period measured was before the latest restrictions on businesses took effect.
  • GDP figures showed that in the July-September quarter, the economy grew by a record 15.5% from the previous three months.
Updated 12 Nov, 2020 06:17pm
Rouble firms below 77 vs dollar as market awaits vaccine
Forex

Rouble firms below 77 vs dollar as market awaits vaccine

  • The rouble has had a volatile few weeks, plunging to its lowest level versus the euro since late 2014 on the eve of the US election.
  • Rouble was 0.3% stronger against the dollar at 76.91 and had lost 0.1% versus the euro, trading at 90.87.
Published 12 Nov, 2020 05:46pm
Fiat Chrysler and Engie EPS agree to set up e-mobility joint venture
Companies

Fiat Chrysler and Engie EPS agree to set up e-mobility joint venture

  • Fiat Chrysler's Italian division and Engie EPS, which is also based in Italy, have entered into a memorandum of understanding aimed at setting up the joint venture in the first quarter of 2021.
  • Shares in Engie EPS, which is being advised by Lazard on the deal, were trading 13% higher in Paris.
Published 12 Nov, 2020 05:29pm
Pompeo confirms US sale of F-35 jets to UAE
World

Pompeo confirms US sale of F-35 jets to UAE

The State Department sent a formal notice to Congress on the sale of the stealth precision planes, long sought by the Gulf Arab ally which won a green light after agreeing in September to recognize Israel.
Published 12 Nov, 2020 04:54pm
Long-term ally of UK PM Johnson resigns in sign of tension
World

Long-term ally of UK PM Johnson resigns in sign of tension

Lee Cain has been a loyal ally of the prime minister, working for him since he was foreign minister until 2018 and staying by his side, sometimes without pay, when Johnson resigned over predecessor Theresa May’s Brexit plans.
Published 12 Nov, 2020 03:18pm
Economic cost of cash drag
Currency

Economic cost of cash drag

Unintended consequences of policy actions have pushed up the share of currency notes in GDP, which hovers around ...
Published 12 Nov, 2020 02:00pm
European shares up
Stocks

European shares up

MILAN/FRANKFURT: European shares rose for a third straight day on Wednesday as optimism around a potential Covid-19...
Updated 12 Nov, 2020 03:20am
Major Gulf markets rise
Stocks

Major Gulf markets rise

• Saudi index gains for a sixth straight session • MSCI adds Kuwait stocks to emerging market index DUBAI: ...
Updated 12 Nov, 2020 03:20am
European gasoline margins rise
Energy

European gasoline margins rise

LONDON: Northwest European gasoline refining margins rose on Tuesday to above $3 a barrel, supported by encouraging...
Updated 12 Nov, 2020 03:20am
Sterling slips
Money & Banking

Sterling slips

LONDON: Sterling was set to end the day flat against the euro and down against a stronger dollar on Wednesday, as...
Updated 12 Nov, 2020 03:17am
Ogra slashes UfG for RLNG consumers

Ogra slashes UfG for RLNG consumers

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has slashed Unaccounted for Gas (UfG) significantly for RLNG...
Updated 12 Nov, 2020 03:11am
Automobile sales up by 34pc

Automobile sales up by 34pc

KARACHI: The automobile sales surged by 34 percent YoY during October 2020, supported by higher sales in all...
Updated 12 Nov, 2020 03:11am
IMF reviews govt steps

IMF reviews govt steps

ISLAMABAD: The coronavirus cases positivity rate in Pakistan has been on an upward trend in the past two weeks,...
Published 12 Nov, 2020 02:50am
US presidential election
Opinion

US presidential election

“Some people are so fond of ill-luck that they run half-way to meet it” (wit and opinion of Douglas Jerrold)....
Published 12 Nov, 2020 02:50am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Wednesday (November 11, 2020) and the forecast for Thursday (November 12, 2020)....
Published 12 Nov, 2020 02:50am
Currency notes: exchange rates
Forex

Currency notes: exchange rates

KARACHI: Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan...
Published 12 Nov, 2020 02:50am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meesaq Fund Rates on Wednesday (November 11, 2020). ======================== Offer Price 1,172.0809...
Published 12 Nov, 2020 02:50am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Wednesday (November 11, 2020). ======================== Offer Price...
Published 12 Nov, 2020 02:50am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Wednesday (November 11, 2020). ======================== Offer Price...
Published 12 Nov, 2020 02:50am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 12 Nov, 2020 02:50am
Member to Member
Rates

Member to Member

KARACHI: The following transactions member to member subsequently reported on Wednesday (November 11, 2020)....
Published 12 Nov, 2020 02:50am
THE RUPEE: Strength on rise
Currency

THE RUPEE: Strength on rise

KARACHI: On Wednesday, PKR continued its upward trend. It went up against USD in both interbank and open markets...
Published 12 Nov, 2020 02:50am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (November 11, 2020)....
Published 12 Nov, 2020 02:50am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Wednesday (November 11, 2020). =======================================...
Published 12 Nov, 2020 02:50am