News Archives for Latest - 2020-11-19

Editorials

Mission impossible: PIA restructuring

EDITORIAL: The Economic Coordination Committee of the Cabinet (ECC) approved, in principle, the Voluntary Separation...

Updated 20 Nov, 2020 12:43pm

Pakistan

TLP head Khadim Hussain Rizvi passes away

Khadim Hussain Rizvi, the controversial Chief of the Tehreek e Labbaik Pakistan (TLP), has passed away due to unconfirmed health conditions.

Updated 19 Nov, 2020 11:29pm

Exchange

2 Pakistan Army soldiers martyred in attack on check post in South Waziristan: ISPR

"Operation is in progress for area clearance," ISPR said.

Updated 19 Nov, 2020 09:27pm

Pakistan

PEMRA ban on Nawaz speeches: IHC declines to give relief to fugitive

Chief Justice of IHC, Justice Ather Minallah, hearing a petition filed by renowned journalists against Pemra’s ban on airing of speeches and interview of Pakistan Muslim League Nawaz (PML-N) leader, stated that this court couldn’t extend relief to any fugitive from justice.

Updated 19 Nov, 2020 09:24pm

Business & Finance

After 25 years, KCR becomes operational

The fare of the Karachi Circular Railway train will be Rs. 50 per person while the speed will be barely 35 km per hour.

Updated 19 Nov, 2020 09:18pm

World

Pakistani restaurant in US to feed homeless again after global support

The restaurant renowned for feeding homeless without ever asking for a penny, found itself struggling to survive due to ongoing global pandemic.

Updated 19 Nov, 2020 09:14pm

Commodities

Gold falls 1pc on stronger dollar, economic rebound hopes

Dollar index gains 0.4%.
Gold hits over one-week low.

Published 19 Nov, 2020 09:09pm

Commodities

Raw sugar retreats, NY cocoa climbs to 8-week high

March white sugar was down $1.40, or 0.3%, at $415.50 a tonne.
March London cocoa was up 22 pounds, or 1.3%, at 1,765 pounds a tonne after peaking at 1,766, the highest since Oct. 1.

Published 19 Nov, 2020 09:06pm

Pakistan

Mashal murder case: PHC commutes convict's death penalty to life in prison

The appeals were filed by the Khyber Pakhtunkhwa government, Mashal’s father and the convicts who were awarded jail terms by the trial court.

Updated 19 Nov, 2020 09:06pm

Stocks

Latam stocks, FX ease as vaccine rally loses steam

Brazil GDP growth next year could top 4%.
Mexico's peso set to snap a two-day losing streak.
Peru's sol on track to end a two-day winning streak.

Published 19 Nov, 2020 09:02pm

Pakistan

PM Khan visits Kabul, pledges support for Afghan peace

My idea of choosing this time to come was to assure you that Pakistan will do everything.
Ghani reiterated his government's support for a "comprehensive political settlement for an enduring peace.
The United States views Pakistan as having a key role in the peace talks.

Published 19 Nov, 2020 08:50pm

Pakistan

Sindh reports over 1150 COVID-19 cases for second day in a row

Giving the daily COVID-19 update, Chief Minister Murad Ali Shah said about 14,470 tests were conducted throughout the province in the past 24 hours out of which 1193 came positive for the virus.

Updated 19 Nov, 2020 09:00pm

Pakistan

ATC sentences Hafiz Saeed to 10 years in prison

The court has also ordered to confiscate Saeed's property.

Updated 19 Nov, 2020 08:53pm

Forex

US dollar gains on persistent rise in coronavirus cases

Scandinavia FX, Aussie dollar give back gains to greenback.
Japanese yen slips against US dollar.
Sterling falls on Brexit worries.

Published 19 Nov, 2020 08:34pm

Commodities

Thai export rates hit 2-month high on supply risks

Cambodian supply to Vietnam offsets demand from Philippines.
Bangladesh issues tender to purchase 50,000 tonnes of rice.
High freight rates also seen hitting Indian export market.

Published 19 Nov, 2020 08:30pm

Currency

South Africa central bank leaves main rate unchanged in close decision

Bank leaves rates steady in last meeting of 2020.
Inflation to moderate, slower rebound in economic growth.
Future decision "data dependent" - Governor Kganyago.

Published 19 Nov, 2020 08:15pm

Energy

US natgas futures drop over 5pc to six-week low on warmer forecasts

Front-month gas futures fell 15.6 cents, or 5.8%, to $2.556 per million British thermal units.
Data provider Refinitiv said output in the Lower 48 US states rose to 92.1 billion cubic feet per day (bcfd) on Wednesday.

Published 19 Nov, 2020 08:13pm

Forex

Canadian dollar dips amid rising global COVID-19 restrictions

Canadian dollar declines 0.1% against the greenback.
Price of US oil decreases 0.4%.
Canada sheds 79,500 jobs in October, ADP data shows.
Canada's 10-year yield falls nearly 2 basis points.

Published 19 Nov, 2020 08:09pm

Currency

US weekly jobless claims rise; COVID-19 surge seen slowing labor market healing

Weekly jobless claims increase 31,000 to 742,000.
Continuing claims drop 429,000 to 6.372 million.
Extended benefits claims rise 233,458 to 4.377 million.

Published 19 Nov, 2020 08:07pm

South Asia

India nears 9 million coronavirus cases

Deaths rose by 585, with the total now at 131,578, the ministry said.
His government has also increased the fine for not wearing masks to 2,000 rupees ($26.95) from the previous 500 rupees.

Published 19 Nov, 2020 08:05pm

Currency

Former Wirecard boss Braun stonewalls German lawmakers' inquiry

Wirecard is biggest corporate fraud in post-war Germany.
Ex-CEO Braun stonewalls parliamentary enquiry.
Setback to probe into who helped Wirecard.

Published 19 Nov, 2020 08:03pm

Financial

Yields dips as investors prepare for weak fourth quarter

The focus has shifted away from exuberance on vaccines to the rising infection rate and the start of the deterioration of the fundamentals we're seeing in the data heading into Q4.
Benchmark 10-year yields fell three basis points to 0.854%. The yields are down from an eight-month high of 0.975% last week.

Published 19 Nov, 2020 08:01pm

Stocks

Wall St retreats on surging COVID-19 cases, rise in jobless claims

Weekly jobless claims unexpectedly rise.
US COVID-19 death toll crosses 250,000.
Macy's drops after posting lower comparable sales.
Indexes off: Dow 0.43%, S&P 0.39%, Nasdaq 0.15%.

Updated 19 Nov, 2020 08:01pm

Industry

Daimler to double sales of Mercedes-Benz Maybach vehicles

Daimler unveiled its new flagship vehicle, which is based on a Mercedes-Benz S-Class limousine.
Daimler plans to make a range of Maybach models, including fully electric variants.

Published 19 Nov, 2020 07:07pm

Industry

India's Reliance says retail venture completes fundraising, rakes in $6.4bn

Reliance Retail Ventures Ltd (RRVL) began raising capital in September, with US-based private equity firm Silver Lake Partners pumping 75 billion rupees for 1.6% of the venture.

Updated 19 Nov, 2020 07:06pm

Pakistan

CAA’s report blames PIA’s engineering dept for PK-661 crash

In it’s 207-page report, which was submitted at the Sindh High Court (SHC), the CAA held PIA's Engineering and Maintenance Department responsible for the air crash.

Updated 19 Nov, 2020 07:02pm

Middle East

Pompeo, on visit to Israel, says he will go to Golan Heights

Today I'll have the chance to visit the Golan Heights. The simple recognition of this as part of Israel, too.
Israel says the Golan - which overlooks northern Israel, Syria, Lebanon and Jordan - is a bulwark against Syria and Iranian forces.

Published 19 Nov, 2020 06:37pm

Stocks

Indian shares retreat from record highs as banks tumble

India's NSE Nifty 50 index and the S&P BSE Sensex hit a record high earlier in the session as investors bet on a faster return to economic growth following upbeat news on a COVID-19 vaccine.
The Nifty 50 ended 1.29% lower at 12,771.70, snapping a three-day gaining streak, while the S&P BSE Sensex closed 1.31% lower at 43,599.96.

Updated 19 Nov, 2020 06:35pm

Technology

Google Goes Green with its New Tool to Keep Cities Cool

Google has launched a new tool called Tree Canopy Lab that could help cities keep cool by allowing residents to map out where trees are needed most.

Published 19 Nov, 2020 06:14pm

Money & Banking

Russian central bank says still some room for rate cut

The economy will shrink by around 4% this year, Tremasov said. The most recent central bank forecast was for a drop of up to 5%.
"Potential for a further rate cut is there, we see it, but it's not that big," he said.

Published 19 Nov, 2020 06:06pm

Commodities

Palm retreats from 8-year high on fears of weak exports

Palm falls after hitting highest since May 3, 2012.
Nov. 1-20 exports expected to decline.
Low palm oil inventory may carry forward to mid-2021.

Published 19 Nov, 2020 06:01pm

Commodities

East-to-west flow of gold slows as Swiss exports to India rebound

Switzerland's exports of gold to China remained at rock bottom, however, suggesting that demand in Asia is far from a full recovery.
Switzerland is the world's biggest gold refining centre and a transit hub, and its trade data illustrate global market trends.

Published 19 Nov, 2020 05:58pm

Stocks

World stocks ease further from highs, oil dips on COVID-19 count

MSCI World down for third straight day.
COVID-19 infection rates suge in United States, Japan.
Oil down, dollar up slightly; Fed action eyed.

Published 19 Nov, 2020 05:57pm

Sports

Sri Lanka's Zoysa found guilty of match-fixing by tribunal

Zoysa... has been found guilty on all charges after he exercised his right to a hearing before a tribunal.
"Zoysa remains suspended and sanctions will follow in due course."

Published 19 Nov, 2020 05:47pm

Commodities

Soybeans ease from 4-year top; corn, wheat also weaker

Soybeans dip after climbing to highest since June 2016.
Corn, wheat ease; strong demand, tight supply limit losses.

Published 19 Nov, 2020 05:37pm

Pakistan

COAS Bajwa, US Charge d' Affaires discuss Afghan Peace Process

During the meeting at the General Headquarters (GHQ) in Rawalpindi, both discussed matters of mutual interest, including regional security situation, particularly the Afghan Peace Process, says ISPR.

Published 19 Nov, 2020 05:39pm

Stocks

China stocks close firmer as investors eye stimulus plan

The blue-chip CSI300 index ended 0.7% higher at 4,927.99, while the Shanghai Composite Index climbed 0.5% to 3,363.09 points.
The tech-heavy start-up board ChiNext and the STAR50 index added 0.9% and 1.2%, respectively.

Published 19 Nov, 2020 05:28pm

Companies

Norway oil firms raise 2021 investment plans by 12pc

The investment forecast for 2021 has been raised by 12%.
The increased estimate is due to the fact that some investments that were previously planned to be made in 2022 have now been accelerated to 2021.

Published 19 Nov, 2020 05:25pm

World

'Too soon' to let Boeing 737 MAX fly again, say families of Lion Air crash victims

The US authorities shouldn't have lifted the grounding order this quickly.
"It wasn't just the Lion Air flight, but also the victims in Ethiopia... The victims' families haven't 100% recovered yet."

Published 19 Nov, 2020 05:17pm

Forex

Rouble down from two-month peak as Russia's COVID-19 cases surpass 2mn

Versus the euro, the rouble eased 0.2% to 90.34 .
We still expect the rouble to firm to 72.00-72.50 versus the dollar in the first quarter of 2021

Published 19 Nov, 2020 05:14pm

Energy

Oil prices mixed as surging COVID-19 cases outweigh vaccine optimism

US crude stocks rise less than expected.
Distillate inventories plunge –EIA.
Shutdowns mount as global COVID-19 cases surge.
Pfizer says its COVID-19 vaccine is 95% effective.

Published 19 Nov, 2020 05:12pm

Commodities

China's new international copper futures slip on debut

INE bonded copper closes down 1.2% on 47,090 yuan/tonne.
Jiangxi Copper, Minmetals among first firms to trade – INE.
Trading volume around one-ninth of ShFE copper contract.

Published 19 Nov, 2020 04:52pm

Technology

Supply Bottlenecks Hamper Debute of Sony & Microsoft Gaming Consoles

Sales of the most awaited gaming consoles by Sony Corp. and Microsoft Corp.’s fall short of their predecessors during the launch week in Japan due to persistent supply bottlenecks.

Published 19 Nov, 2020 04:27pm

Pakistan

FM Qureshi meets Afghan counterpart, discusses peace process in Kabul

During the meeting, Shah Mahmood Qureshi said Pakistan has always backed the dialogue process for durable peace and stability in Afghanistan.

Published 19 Nov, 2020 03:56pm

Technology

Apple to pay $113mn for intentionally slowing down iPhones

33 US states had claimed that the technology company Apple slows down the performance of old mobile phones so that its users buy new phones.

Published 19 Nov, 2020 03:52pm

Companies

ECC Takes up $800m Dispute with UAE Telecom Giant Etisalat

The Economic Coordination Committee (ECC) has decided to take up the $800m longstanding payment Dispute with UAE Telecom Giant Etisalat.

Updated 19 Nov, 2020 03:21pm

Pakistan

Karachi administration seals Imtiaz Supermarket, several mobile shops

Karachi Commissioner Iftikhar Shallwani has directed officials to take action against violators of coronavirus SOPs.

Updated 19 Nov, 2020 02:58pm

Pakistan

Anti-encroachment drive at Karachi’s Mehmoodabad postponed after protest

The drive at Manzoor Colony and adjoining areas caused traffic jam in the locality.

Updated 19 Nov, 2020 02:57pm

World

Australian Combat Troops Unlawfully Killed 39 Afghan Prisoners, according to investigation

An investigation by the Australian military into alleged war crimes in Afghanistan has found evidence that elite Australian combat troops unlawfully killed 39 Afghan prisoners, farmers and civilians.

Updated 19 Nov, 2020 02:31pm

Life & Style

Wonder Woman 1984 to hit theaters and streaming simultaneously on Christmas

The unusual move to release the movie in homes and theaters at the same time is due to the coronavirus pandemic.

Updated 19 Nov, 2020 02:12pm

Business & Finance

Signing Ceremony between Samba Bank Limited and Techlogix to introduce Digital Lending

Samba Bank Limited signed an agreement with Techlogix Mobility Pakistan to launch digital lending platform that...

Published 19 Nov, 2020 02:01pm

Pakistan

Sindh govt decides to reopen high dependency units at Expo Centre

The provincial government also decided to revive the HDU facilities at many government hospitals and at least three public sector hospitals.

Updated 19 Nov, 2020 02:02pm

Life & Style

Michael B. Jordan named People magazine's 'sexiest man alive'

Jordan follows singer John Legend and British actor Idris Elba, who were named in 2019 and 2018.

Updated 19 Nov, 2020 01:50pm

Pakistan

Matric exams: BISE Lahore, Rawalpindi announce last date for submission of forms

The students have been advised to submit their online applications by December 10 as from December 11, the forms will be accepted with double fee till December 21 and with triple fee till December 29.

Published 19 Nov, 2020 01:22pm

Currency

These are the world’s most expensive cities during Covid-19

Cities in the Americas, Africa and Eastern Europe have become less expensive since last year, while Western European cities have become costlier.

Published 19 Nov, 2020 12:56pm

Money & Banking

Pakistan’s C/A maintains surplus for fourth consecutive month

As per the central bank, this comes on the back of a sustained increase in remittances and a smaller trade deficit.

Updated 19 Nov, 2020 11:38am

Life & Style

AAJ PROGRAM SCHEDULE

Thursday, November 19, 2020 TIMING PROGRAM TITLE 06:00 NEWS HOUR 06:25 HEADLINE NEWS 06:30 NEWS HOUR 06:55 ...

Updated 19 Nov, 2020 11:29am

Exchange

Industrial sector output declines by 2.6pc in FY20

KARACHI: Provisional National Accounts data shows that industrial sector output declined by 2.6 percent in FY20,...

Updated 19 Nov, 2020 11:28am

Taliban welcome US troop drawdown as ‘good step’

KABUL: The Taliban on Wednesday welcomed the Pentagon's announcement it would soon pull about 2,000 US troops from...

Updated 19 Nov, 2020 11:27am

Technology

TikTok gives more control to parents

According to details, the new feature introduced by one of the world's most popular video-sharing app has given parents the ability to not only change the app's search and settings, but no stranger will be able to see the posts of their children without their permission.

Published 19 Nov, 2020 11:23am

UAE suspends issuance of new visit visas

ISLAMABAD: The Foreign Office on Wednesday confirmed that the UAE has temporarily suspended the issuance of new ...

Updated 19 Nov, 2020 11:26am

APTTA and PTA: Parleys with Afghanistan bilateral, not trilateral: Dawood

ISLAMABAD: Prime Mini-ster’s Advisor on Commerce and Investment, Abdul Razak Dawood Wednesday said that parleys...

Updated 19 Nov, 2020 11:25am

Inclusive growth key to economic development: Hafeez

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has said that inclusive ...

Updated 19 Nov, 2020 11:24am

Currency

PM says there will be no business growth bottlenecks

FAISALABAD: Prime Minister Imran Khan Wednesday urged the businessmen and exporters to invest freely in the country...

Updated 19 Nov, 2020 11:22am

Cotton

July-Oct: export growth inches up 0.62pc

ISLAMABAD: The country’s exports during July-October, 2020 totaled $7.576 billion against $7.529 billion during ...

Updated 19 Nov, 2020 11:22am

Cotton

SBP expects 1.5-2.5pc growth

KARACHI: The State Bank of Pakistan (SBP) expects the country’s GDP growth to stay within the range of 1.5-2.5...

Updated 19 Nov, 2020 11:21am

Cotton

Cotton output shows alarming decline

LAHORE: The cotton production in the country witnessed an alarming decline of 2.8 million bales, according to a...

Updated 19 Nov, 2020 11:19am

National savings schemes: Institutional investment disallowed

ISLAMABAD: In a major policy decision, the Federal Government has decided to impose ban on institutional investment...

Updated 19 Nov, 2020 11:18am

Currency

PKR-denominated Karakoram bonds: ADB raises Rs1.83bn

ISLAMABAD: The Asian Development Bank (ADB) has raised Rs1.83 billion ($11.4 million) in a first issue of local...

Updated 19 Nov, 2020 11:17am

Country incurs $3.181bn debt in 4 months

ISLAMABAD: Pakistan incurred foreign debt of $3.181 billion from multiple financing sources in the first four months...

Updated 19 Nov, 2020 11:16am

London’s financial district doubles down on solar power

PARIS: The City of London financial district has signed a deal to secure the bulk of its electricity from a new...

Updated 19 Nov, 2020 11:14am

Industry

Poultry exporters urge to find new markets after Duty drawback facility allowed

The Advisor urged the exporters in the poultry sector to take advantage of this new sector and find new markets for Pakistan's exports.

Published 19 Nov, 2020 10:54am

Business & Finance

World stocks hit record on vaccine hope, dollar lower for fifth straight session

On Wall Street, Pfizer Inc shares gained 0.78% after the drugmaker said its COVID-19 vaccine was 95% effective and the company would apply for emergency U.S. authorization within days.

Published 19 Nov, 2020 10:31am

Business & Finance

China to cut tariffs, boost imports of high-quality goods and services: Xi says

China will pursue higher quality growth through its “dual circulation” development model, driven by technological innovation, Xi said.

Published 19 Nov, 2020 10:29am

Technology

Apple lowers App Store fees for small developers, critics see little impact

Apple takes a 30% cut of most purchases made on the App Store, although the commission drops to 15% for subscriptions that remain active for more than a year.

Published 19 Nov, 2020 10:25am

Pakistan

Foreign Office, Comstech launch Consortium of Excellence

Foreign Secretary Sohail Mahmood said it will help in obtaining a greater share of the digital/high tech export market-globally.

Published 19 Nov, 2020 10:25am

Exchange

Global luxury goods sales set for largest ever fall in Bain forecast

The expected decline, despite a strong sales recovery in China, is at the lower end of a 20% to 35% range which Bain’s closely followed industry forecast had predicted in May.

Published 19 Nov, 2020 10:22am

World

U.S. imposes sweeping sanctions on Iran, targets Khamenei-linked foundation

They come little more than two months before Trump is due to hand over power to Joe Biden after losing a Nov. 3 election.

Published 19 Nov, 2020 09:33am

World

Australian special forces suspected of killing 39 captured, unarmed people in Afghanistan - report

Australia’s General Angus John Campbell said there was credible information of 39 unlawful killings by 25 Australian Special Forces personnel in 23 separate incidents.

Published 19 Nov, 2020 09:31am

World

Trump has made no plans to host G7 summit: diplomatic sources

Three diplomatic sources said there had been no outreach by the Trump administration on dates or an agenda for a possible G7 summit.

Published 19 Nov, 2020 09:28am

BR Research

S.S. Oil Mills Limited

S. S. Oil Mills Limited (PSX: SSOM) was established as a public limited company in 1990. The company’s primary...

Published 19 Nov, 2020 07:45am

BR Research

Honda’s back

Earnings have revived for Honda Atlas (PSX: HCAR) in the first two quarters against the loss that the company faced...

Published 19 Nov, 2020 07:40am

Cotton

Agricultural GDP: what’s wrong in an estimate?

Yesterday, the central bank released its Annual State of the Economy report, and the state of the agricultural GDP...

Published 19 Nov, 2020 07:35am

BR Research

Top notch from top five banks

The banking result season is over and was once again headlined by the continued exemplary performance of the big ...

Published 19 Nov, 2020 07:30am

Currency

Of demand and austerity

Growth in the petroleum industry has gradually moved from positive to negative over the last four years. ...

Published 19 Nov, 2020 07:25am

Currency

The ‘quasi’ casino economy—II

Automobile: This is the third most attractive activity of players in the ‘quasi’ casino economy in Pakistan....