News Archives for Latest - 2020-11-26

Editorials

Govt-IMF talks

EDITORIAL: The ongoing talks with the International Monetary Fund (IMF) on the second mandatory review under the 6...

Updated 07 Dec, 2020 09:07pm

Pakistan

Controversy erupts over Khadim Hussain Rizvi's successor claims

On Wednesday, former patron-in-chief and founding leader of the Tehreek-i-Labbaik Pakistan (TLP), Pir Afzal Qadri, stirred a controversy around the group's leadership, when he questioned the succession of the "mentally unstable" Saad Hussain Rizvi to lead the party after the death of Khadim Hussain Rizvi.

Updated 27 Nov, 2020 02:09pm

Europe

New coronavirus infections, hospitalisations decline again in France

The total number of confirmed cases now stands at 2.18 million in France.
France also reported 339 new coronavirus deaths in hospitals, down from 381 on Wednesday.

Updated 27 Nov, 2020 12:06am

Forex

Pound holds near 3-month high as weak dollar counters Brexit unease

Traders are looking for progress on a trade deal between Britain and the European Union.
Sterling, in common with British stocks, has largely shrugged off finance minister Rishi Sunak's unprecedented spending plans announced on Wednesday.

Published 26 Nov, 2020 10:55pm

Financial

Euro zone bond yields edge down after dovish ECB messaging

It is essential that the macroeconomic recovery is not derailed by a premature steepening of the yield curve.
Safe-haven benchmark German 10-year yields fell down by about 1.5 basis point on the day to -0.585%.

Published 26 Nov, 2020 10:53pm

Forex

South African rand weakens as economic concerns weigh, stocks stable

The rand has in recent weeks been supported by an uptick in global risk appetite, which has hurt the dollar.
South Africa suffered another round of downgrades recently, our house is not in order, and this will have more of a longer term impact on the rand

Published 26 Nov, 2020 10:49pm

Money & Banking

India's largest bank expects RBI to hold interest rate

The stance will continue to remain accommodative but they may not be in a position to cut interest rate in immediate future.
India's retail inflation remained above 7% in October for a second straight month, with vegetable prices at elevated levels.

Published 26 Nov, 2020 10:49pm

Money & Banking

Mexico's central bank board split over future rate cuts, minutes show

Some members mentioned that this pause should not be considered as the end of the monetary relaxation cycle.
He said an even lower rate environment was needed to aid the recovery, given the difficulty of fiscal stimulus in Mexico, the minutes showed.

Published 26 Nov, 2020 10:39pm

Companies

CEO says AstraZeneca likely to run new global trial of COVID-19 vaccine

Now that we've found what looks like a better efficacy we have to validate this, so we need to do an additional study.
The news comes as AstraZeneca faces questions about its success rate that some experts say could hinder its chances of getting speedy US and EU regulatory approval.

Published 26 Nov, 2020 10:38pm

Stocks

London stocks end lower on grim post-lockdown outlook

Persimmon, Intermediate Capital Group bottom out FTSE 100.
Virgin Money drops for second straight day after profit slump.
Brexit trade deal can be reached, but not at any cost – Sunak.

Published 26 Nov, 2020 10:36pm

Energy

West Africa Crude-Offers stay high on Chinese, Indian buying

Exxon was offering a cargo of Angolan CLOV at dated Brent plus $2.50, while offers for Dalia crude were at plus $2.30.
India's IOC has purchased at least 10 million barrels of West African, mostly Nigerian.

Published 26 Nov, 2020 10:34pm

Stocks

European shares move little as focus turns to economic damage from COVID

UK to face tough post-lockdown restrictions.
British pubs cut jobs as losses widen.
French, German consumer confidence fall in November.
Aviva plans to cut 2020 dividend.

Published 26 Nov, 2020 10:33pm

Commodities

Copper hits near 7-year high on vaccine hopes, fund buying

Three-month copper on the London Metal Exchange was up 1.3% to $7,398 a tonne.
The metal, widely used in power and construction industries, has rallied about 70% since its March lows.

Updated 26 Nov, 2020 10:33pm

Pakistan

Sindh accepts Karachi traders' demands, changes business hours

Provincial government spokesperson Murtaza Wahab made the announcement via tweet which states: "This is to inform that markets in #Sindh will remain open till 8 PM."

Updated 26 Nov, 2020 09:25pm

Pakistan

Gold price increases Rs200 to Rs110,500 per tola

The price of per tola and ten gram silver remained unchanged at Rs. 1180 and Rs. 1011.65 respectively.

Published 26 Nov, 2020 09:06pm

Pakistan

COVID-19 claims 19 more lives, infects 1402

Shah said 10,585 samples were tested which diagnosed 1,402 cases that constituted 13.2 percent current detection rate.

Published 26 Nov, 2020 09:03pm

Pakistan

Shibli prays for health of Bilawal Zardari

The minister, in a tweet, said, "We express our best wishes for all patients, including Bilawal Bhutto."

Published 26 Nov, 2020 09:01pm

Pakistan

PM for removal of hurdles for Overseas Pakistanis' investment, participation in business activities

He directed the Chairman Federal Board of Revenue (FBR) and other concerned departments to ensure the provision of maximum facilities to the Overseas Pakistani investors.

Published 26 Nov, 2020 08:59pm

Forex

Euro retreats after early gains; Swedish crown falls after Riksbank QE expansion

Market watchers were wondering whether the European Central Bank will take a cue from the Riksbank and follow suit with its own QE programme.

Published 26 Nov, 2020 08:59pm

Pakistan

One COVID-19 patient dies, 65 more cases reported in Hyderabad

The district administration also urged the people to adopt standard operating procedures (SOPs) as preventive measures were the only way to curb the contagion.

Published 26 Nov, 2020 08:58pm

Pakistan

CM criticises opposition for politicizing coronavirus

He maintained the opposition was limited to issuing statements while leaving people in the lurch.

Published 26 Nov, 2020 08:56pm

Stocks

TSX steady at 9-month high as tech, mining gains offset by energy losses

The largest percentage gainer on the TSX was BRP Inc , which jumped 4.5% after a series of price-target hikes on strong third-quarter results.

Published 26 Nov, 2020 08:56pm

Pakistan

Pakistan joins Digital Cooperation Organization, launched by Saudi Arabia, as founding member: FO

The Foreign Minister chairs a dedicated Digital Diplomacy working group comprising some of Pakistan’s brightest IT experts, to bring innovation and enhance Pakistan’s digital diplomacy footprint.

Published 26 Nov, 2020 08:53pm

Forex

Nigeria naira at new low as FX scarcity hit black market

The central bank in November tightened documentation required for imports into the country, further shifting demand to the black market.

Published 26 Nov, 2020 08:51pm

Pakistan

Opposition intentionally playing with lives of people in peak time of COVID-19: Azam Swati

He said 252 big cases had reached their logical ends during the one year, adding he requested to the courts for speedy trials of the National Accountability Bureau and Anti Corruption cases.

Updated 26 Nov, 2020 08:53pm

Air strikes kill 19 Iran-backed fighters in Syria: monitor

Iran backs President Bashar al-Assad's regime in Syria's civil war.

Published 26 Nov, 2020 08:47pm

UK's PM appoints chief of staff after aide's stormy exit

Since 2016, Rosenfield has been global head of corporate clients for Hakluyt, a London-based strategic advisory firm that was founded by former operatives of Britain's foreign intelligence agency, MI6.

Published 26 Nov, 2020 08:45pm

Business & Finance

German Amazon workers strike on 'Black Friday'

The stoppage affected Amazon distribution facilities in Leipzig, Bad Hersfeld, Augsburg, Rheinberg, Werne and Koblenz.

Published 26 Nov, 2020 08:43pm

Pakistan

Sindh reports over 1400 new COVID-19 cases in past 24 hours

“Sindh reported 1402 new cases when 10585 tests were performed during 24 hours,” said Chief Minister Syed Murad Ali Shah while giving daily briefing on the pandemic.

Updated 26 Nov, 2020 08:35pm

Pakistan

Ali Musa Gillani released on bail ahead of PDM rally in Multan

Gillani was arrested yesterday following a rally ahead of the upcoming PDM power show in Multan on November 30.

Published 26 Nov, 2020 07:44pm

Bullion Rate

Bullion rates in Hyderabad gold market

Following were the bullion rates in Hyderabad gold market on Thursday.

Updated 26 Nov, 2020 06:58pm

Pakistan

PTI candidates win speaker, deputy speaker positions in GBLA

Syed Amjad Ali was elected as speaker of GBLA while advocate Nazir Ahmed secured the seat of deputy speaker of the assembly

Updated 26 Nov, 2020 06:39pm

Pakistan

9833 confirmed COVID-19 cases reported in Rawalpindi

According to daily situation report shared by Deputy Commissioner office, as many as 8271 patients have been recovered so far after treatment, out of the total 9833 confirmed cases.

Published 26 Nov, 2020 06:34pm

Life & Style

No live shows? No problem. Three-day Coke Fest 2020 draws two million viewers

The live event, which featured live performances across four stages, featured new music from young and upcoming local artists.

Updated 26 Nov, 2020 06:36pm

Pakistan

Coronavirus: Airlines can no longer offer meals, beverages on domestic flights

The authority has also made wearing masks throughout the flight compulsory, as second wave of pandemic took over the country.

Updated 26 Nov, 2020 06:35pm

Pakistan

Asad Umar chairs Planning Commission Advisory Committee

The Minister expressed his appreciation for the work carried out by the sub-groups and said that it would be extremely useful for policy formulation.

Published 26 Nov, 2020 06:32pm

Pakistan

Bullion prices on Thursday

Following were the bullion prices in Karachi on Thursday.

Published 26 Nov, 2020 06:30pm

Pakistan

Hafeez expresses confidence on P&P Commission for streamlining basic pay

She explained that the Commission would review the existing pay and pension structures, allowances, perks and facilities and also to evaluate possibilities of their monetization.

Published 26 Nov, 2020 06:28pm

Pakistan

86 outlets of quack sealed

He appealed to people and the media to inform the health department about quacks as their names would be kept secret.

Published 26 Nov, 2020 06:26pm

Pakistan

CM KP approves establishment of Sports City in Regi Model Town

CM was briefed that six consultancy firms offered their services responding to the Directorate General Sports KP's call for the establishment of the city.

Published 26 Nov, 2020 06:23pm

Pakistan

Faisal Javed asks Bilawal to take care of himself as well as people

Faisal Javed said that "what a cruelty it is to videotape yourself while bringing people to the streets and endangering their lives".

Published 26 Nov, 2020 06:21pm

Pakistan

Recognition of Israel not under consideration, reiterates Foreign Office

He said Prime Minister Imran Khan has made it clear that unless a just settlement of the Palestine issue, satisfactory to the Palestinian people, is found, Pakistan cannot recognise Israel.

Updated 26 Nov, 2020 06:18pm

South Asia

Afghanistan Presidential Palace Rejects Progress in Doha Peace Talks

On Wednesday, the Afghanistan Presidential Palace rejected any progress in the peace negotiations between the Islamic Republic of Afghanistan and the Taliban, adding that any deadlock in the talks has not been broken so far.

Updated 26 Nov, 2020 06:03pm

Industry

Demand for Two-wheelers Rise in Southeast Asia

With rapid economic growth and rise in population, Southeast Asia's transport sector has witnessed an increase in the demand for two-wheelers in major cities.

Updated 26 Nov, 2020 06:01pm

USA

Biden says Americans 'won't stand' for attempt to derail election result

In a speech on the eve of the Thanksgiving holiday, Biden said in his hometown of Wilmington, Delaware that Americans "have full and fair and free elections, and then we honor the results."

Published 26 Nov, 2020 05:34pm

World

Trump pardons Michael Flynn, who lied to FBI over Russia

Democrats expressed outrage at Flynn's pardon, which came as the judge in charge of his case refused Justice Department efforts to drop it.

Published 26 Nov, 2020 05:30pm

Business & Finance

Mexico's economy to plunge less than feared: central bank

The country was still facing a "very adverse situation due to the pandemic," he added.

Published 26 Nov, 2020 05:26pm

Pandemic or not, people must stay active: WHO

Older adults were meanwhile advised to add activities that emphasise balance and coordination, as well as muscle strength, to help prevent falls.

Published 26 Nov, 2020 05:23pm

Pakistan

Cement exports increase 11.79pc during July-October 2020

In terms of quantity, the exports of cement increased by 32.51 percent by going up from 2,437,565 metric tons to 3,230,058 metric tons, according to the data.

Published 26 Nov, 2020 05:22pm

Pakistan

SBP mops up Rs15.250bn from market

The rate of return accepted is 6.95 per cent per annum.

Published 26 Nov, 2020 05:19pm

World

In Brazil, Pfizer begins process to register Covid-19 vaccine

Brazil's health ministry also agreed to buy 100 million doses of a different vaccine developed by AstraZeneca and Oxford University.

Published 26 Nov, 2020 05:19pm

Pakistan

Capital reports highest single day increase in corona cases

He advised the citizens to continue following the social distancing, use of mask and other precautionary measures to stop increasing local transmission of COVID-19 in the city.

Published 26 Nov, 2020 05:16pm

Pakistan

World acknowledging Pakistan economy's resilience against coronavirus: Shibli

The address of Prime Minister Imran Khan at the World Economic Forum was manifestation of our successful strategic priorities, he added.

Published 26 Nov, 2020 05:15pm

USA

Over 2,400 US Covid deaths in 24 hours, a six-month high: Johns Hopkins

But one day before Thursday's celebrations, officials and passengers in Los Angeles noted an eerie quiet compared to previous years.

Published 26 Nov, 2020 05:13pm

Exchange

Rupee strengthens against US dollar

The exchange rates of Emirates Dirham and Saudi Riyal decreased by one paisa each to close at Rs. 43.35 and Rs. 42.46 respectively.

Published 26 Nov, 2020 05:10pm

World

South Korea virus cases hit highest level since March

Thursday's figures take the total number of recorded cases in the country to more than 32,000.

Published 26 Nov, 2020 05:10pm

Pakistan

Shafqat urges students to avail 'distance learning' seriously amid COVID-19

He said that the government was working to make the online learning experience better, adding, parents should also provide the necessary support for children to learn from home.

Published 26 Nov, 2020 04:58pm

Industry

Flydubai launches first scheduled Dubai-Tel Aviv flight

Several Gulf Arab states have for years been quietly building relations with Israel on the basis of shared animosity towards Iran, with the US supporting the process.

Published 26 Nov, 2020 05:08pm

Stocks

Tokyo stocks close higher

In Tokyo trading, medical equipment-related shares were higher with Olympus jumping 4.88 percent to 2,253.5 yen and Omron rising 4.02 percent to 9,300 yen.

Published 26 Nov, 2020 05:06pm

Currency

Mass evacuations hailed for casualty-free India cyclone

Flights at Chennai airport were suspended until Thursday morning and metro train services halted.

Published 26 Nov, 2020 05:02pm

Middle East

Huthis confirm green light for UN tanker repair mission

Apart from corrosion to the ageing vessel, essential work to curb explosive gases in its storage tanks has been neglected.

Published 26 Nov, 2020 05:00pm

Pakistan

SHC makes biometric verification compulsory for new prisoners

The prison and government departments were also directed to maintain the criminal records of all the prisoners while in case of negligence contempt proceedings will be initiated, said the court while hearing a petition on “fake prisoners” in Sindh jails.

Updated 26 Nov, 2020 04:59pm

World

Russia sees record virus infections, deaths

The jab will be provided free to Russian citizens and Moscow is looking to secure major international orders in the global race to supply vaccines.

Published 26 Nov, 2020 04:58pm

Forex

Russian rouble hits near 10-wk high, stocks extend rally on vaccine optimism

At 0742 GMT, the rouble was 0.3pc stronger against the dollar at 75.35, earlier reaching 75.3025, its strongest level since Sept. 18.

Published 26 Nov, 2020 04:57pm

Africa

Ethiopia PM orders final offensive against dissident Tigray leaders

The ultimatum was rejected by the leaders of the region, whose forces have been fighting federal troops in the country's north for three weeks, displacing over 40,000 people and killing hundreds.

Published 26 Nov, 2020 04:56pm

Stocks

China shares end higher as financials lead rebound

The blue-chip CSI300 index was up 0.18pc, with its financial sector sub-index higher by 1.14pc, the consumer staples sector up 0.3pc and the healthcare sub-index down 0.46pc.

Published 26 Nov, 2020 04:54pm

Indian farmers clash with police over farm reforms

But the main opposition Congress party, which is in power in Punjab and backs the protests, has argued the change leaves farmers at the mercy of large corporations.

Published 26 Nov, 2020 04:49pm

South Asia

South Korea reports biggest COVID-19 spike since March

The government reimposed strict distancing rules on Seoul and surrounding regions this week, only a month after they had been eased following a second wave of infections.

Published 26 Nov, 2020 04:50pm

Europe

Germany's COVID restrictions likely to continue in January: Merkel

"Given the high number of infections, we assume that the restrictions which are in place before Christmas will be continue to be valid until the start of January, certainly for most parts of Germany," said Merkel.

Published 26 Nov, 2020 04:48pm

Europe

Undiagnosed HIV rising in Eastern Europe, Central Asia: agencies

Earlier diagnosis of HIV is an urgent priority," ECDC director Andrea Ammon said in a statement.

Published 26 Nov, 2020 04:42pm

Commodities

South Korea mill tenders for 45,000 tonnes Australian wheat

The tender also closes on Thursday, Nov. 26. Shipment is sought between Feb. 16 and March 15, 2021.

Published 26 Nov, 2020 04:47pm

South Asia

South Korea's Moon vows to work with China to end war, build peace on Korean peninsula

Moon made the remarks at a meeting with visiting Chinese foreign minister Wang Yi, who told him that bilateral ties will overcome the coronavirus pandemic to forge an advanced partnership.

Published 26 Nov, 2020 04:43pm

Money & Banking

Russia's central bank says record Q3 flow of retail investors into assets

The bank said 1.6 million individuals opened brokerage accounts from July-Sept alone, a record quarterly rise.

Published 26 Nov, 2020 04:41pm

Stocks

Hong Kong shares track regional rise on COVID-19 vaccine, U.S. stimulus hopes

The sub-index of the Hang Seng tracking energy shares rose 1.9pc, while the IT sector rose 2.5pc and the financial sector ended 0.69pc higher.

Published 26 Nov, 2020 04:38pm

World

Turkish court jails 337 for life over 2016 coup bid: judicial sources

They were convicted of crimes including murder, violating the constitution and attempting to assassinate the president.

Published 26 Nov, 2020 04:38pm

Companies

Toyota Reveals Corolla Cross Official Features for Pakistan

Toyota Indus Motors (IMC) has revealed the official features and specifications for its Corolla Cross.

Updated 26 Nov, 2020 04:40pm

Industry

EasyJet says domestic bookings rise as England lockdown ends

England's current lockdown bans most international travel, but when it ends on Dec. 2 people will be free to go abroad. Over Christmas.

Published 26 Nov, 2020 04:35pm

Business & Finance

Malaysia's embattled PM survives crucial budget test

Muhyiddin Yassin's administration would almost certainly have collapsed, prompting general elections, if lawmakers failed to back the budget in parliament.

Published 26 Nov, 2020 04:34pm

Forex

Pound near 3-month high as dollar struggles; Brexit talks weigh

The pound was down 0.14pc at $1.3364 in early London trading after hitting an early September high of $1.3399 in Asian trading.

Published 26 Nov, 2020 04:32pm

Coronavirus toll after 1100 GMT Thursday

China -- excluding Hong Kong and Macau -- has to date declared 86,490 cases, including 4,634 deaths and 81,550 recoveries.

Published 26 Nov, 2020 04:33pm

Money & Banking

Philippine central bank approves digital banking framework

Digital banks should set up a headquarters in the Philippines for management and support operations, including the handling of customer concerns, the central bank said.

Published 26 Nov, 2020 04:30pm

Forex

Dollar weak across board; Swedish crown falls after Riksbank QE expansion

The Australian dollar was down 0.1pc at 0.7358, though earlier it rose to a near three-month high of 0.7374, and the Canadian dollar was neutral at 1.3007 against the U.S. dollar.

Published 26 Nov, 2020 04:27pm

Exchange

BOJ's assets hit record, ETF holdings surge on efforts to ease pandemic hit

The central bank held a total of 690 trillion yen ($6.6 trillion) in assets as of end-September, up 21pc from a year ago and nearly 1.3 times the size of Japan's economy.

Published 26 Nov, 2020 04:25pm

Energy

UK GAS-Prompt prices decline amid ample supply

The system was oversupplied by around 16 million cubic metres (mcm), with demand forecast at 296 mcm and flows at 312 mcm/day, according to National Grid data.

Published 26 Nov, 2020 04:23pm

Forex

Kenyan shilling weakens as importer dollar demand weighs

At 0904 GMT, commercial banks quoted the shilling at 109.95/110.15 per dollar, compared with yesterday's close of 109.85/110.05.

Published 26 Nov, 2020 04:22pm

Commodities

Bangladesh gets offers in tender to buy 50,000 tonnes rice

The tender was Bangladesh's first of its type for three years amid dwindling rice supplies and a surge in prices.

Published 26 Nov, 2020 04:20pm

Money & Banking

Swedish central bank adds $23bn to QE as second pandemic wave hits

The slowdown is still forecast to be milder than in the second quarter, when Swedish gross domestic product contracted a record 8.3pc.

Published 26 Nov, 2020 04:17pm

South Asia

Afghanistan-Pakistan Trade Barriers removed, exports to potentially double in the coming year

On Wednesday, the Afghan Ministry of Industry and Commerce stated that "all barriers" hampering trade relations between Afghanistan and Pakistan has been resolved over the past few weeks.

Updated 26 Nov, 2020 04:19pm

Europe

Finland's COVID-19 situation worsening rapidly, says PM

In the worst hit region around the capital Helsinki, the number of new cases rose by nearly 70pc last week from the week before, the region's Chief Medical Officer Markku Makijarvi said.

Published 26 Nov, 2020 04:13pm

South Asia

Philippines, private firms to sign vaccine supply deal with AstraZeneca

The deal will augment government efforts to lock in supplies to inoculate around two-thirds of its 108 million population, and is another boost for AstraZeneca.

Published 26 Nov, 2020 04:09pm

World

German COVID-19 restrictions set to last into 2021

“Given the high number of infections, we assume that the restrictions which are in place before Christmas will continue to be valid until the start of January, certainly for most parts of Germany,” Merkel told parliament.

Updated 26 Nov, 2020 04:10pm

Stocks

European shares flat as virus woes, economic risks weigh

The pan-European STOXX 600 index was flat at 0920 GMT, with gains in tech and healthcare stocks offset by declines in the autos and energy sectors.

Published 26 Nov, 2020 04:07pm

Exchange

South Korea, China agree on early Xi visit, North Korea talks

China's top diplomat, Wang Yi, arrived in the South Korean capital late on Wednesday, after a two-day visit to Japan, as Asian governments prepare for change under a new U.S. administration.

Published 26 Nov, 2020 04:04pm

Europe

Hungary shuns further restrictions despite rising COVID-19 cases

Gulyas told a press briefing that the government would look at infections data next week again to review its decisions.

Published 26 Nov, 2020 04:02pm

World

Worldwide coronavirus cases cross 60.37 million, death toll at 1,420,556

Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December 2019.

Published 26 Nov, 2020 04:01pm

Industry

Foxconn to shift some Apple production to Vietnam to minimise China risk

Taiwanese manufacturers, wary of being caught up in the tit-for-tat trade war, have moved or are considering moving some production from China to countries such as Vietnam, Mexico and India.

Published 26 Nov, 2020 03:56pm

Business & Finance

Razak Dawod urges exporters to send proposal for Pak-Afghan PTA

“I request all exporters to send their proposals to MOC at the earliest. Bilateral trade with Afghanistan has to be placed on a sustainable growth path,” he added.

Published 26 Nov, 2020 03:57pm

Stocks

London stocks slip as investors await details on post-lockdown curbs

The blue-chip FTSE 100 index slipped 0.5pc, dragged down by energy, banking and aero stocks, while the domestically focussed mid-cap FTSE 250 lost 0.7pc.

Published 26 Nov, 2020 03:55pm

Energy

Oil rally stalls on signs of more supply, demand doubts

Brent futures had risen to nearly $50 a barrel this week after three major pharmaceutical companies announced progress on vaccines that could start to be rolled out before the year-end.

Published 26 Nov, 2020 03:53pm

Forex

Ugandan shilling a notch firmer on commodity flows

At 0926GMT commercial banks quoted the shilling at 3,695/3,705, compared to Wednesday's close of 3,700/3,710.

Published 26 Nov, 2020 03:51pm

Europe

Poland launches new COVID-19 economic aid worth about $10bn

During the first wave of the pandemic, Poland launched a programme of spending, loan guarantees and central bank liquidity measures worth more than 300 billion zlotys.

Published 26 Nov, 2020 03:48pm

Commodities

Gold rises on soft dollar, stimulus bets as virus risks grow

The dollar index held close to nearly three-month lows, increasing gold's appeal for other currency holders.

Published 26 Nov, 2020 03:43pm

Sports

Argentines bid final farewell to Maradona as national mourning begins

Maradona, who died aged 60 following a heart attack at home on Wednesday, will lie in state at the pink-hued Casa Rosada presidential palace from Thursday through Saturday. Huge crowds are expected to visit his casket as part of three days of national mourning declared by President Alberto Fernandez.

Published 26 Nov, 2020 03:44pm

Europe

French cases target to lift some restrictions could be reached in second week of December

During a news conference detailing how France's second national lockdown is about to be gradually unwound, Veran also said the reproduction rate of the disease had fallen to 0.65.

Published 26 Nov, 2020 03:38pm

Money & Banking

China will make monetary policy more flexible, targeted: central bank

The bond defaults dented investor confidence and pushed up funding costs for many corporate borrowers, adding to pressures on China's nascent economic recovery.

Published 26 Nov, 2020 03:34pm

Pakistan

Murad Ali Shah issued contempt notice by SC in Karachi Circular Railway case

*Shah has been directed to submit a response at the next hearing in two weeks.

Published 26 Nov, 2020 03:08pm

Pakistan

Multan admin refuses permission for PDM rally on Nov. 30

The Deputy Commissioner Multan Amir Khattak refused permission on a request submitted by Pakistan People’s Party (PPP) leader Natasha Daultana citing spike in COVID-19 cases across the country.

Updated 26 Nov, 2020 02:59pm

Pakistan

Coronavirus: 200 Pakistanis stranded in India to return home

They were stuck Maharashtra, Madhya Pradesh, Rajasthan, and Delhi due to the travel restrictions brought in to control the spread of the highly contagious disease.

Updated 26 Nov, 2020 02:32pm

Business & Finance

TPL Insurance Becomes Pakistan’s First Insurance Member of UNEP FI

The UNEP FI is a strategic partnership between the UN Environment Program and the global financial sector to advance sustainable finance.

Published 26 Nov, 2020 02:19pm

Middle East

Kashmir Issue omitted from the agenda of OIC Foreign Ministers' meeting

The Kashmir dispute has not been included in the agenda of the two-day meeting for foreign ministers of the Organisation of Islamic Cooperation (OIC) being held in Niger’s capital Niamey on Friday.

Updated 26 Nov, 2020 02:20pm

World

Turkish court jails 27 for life over 2016 ‘coup attempt’

They were convicted of crimes including murder, trying to overthrow the constitutional order and attempting to assassinate the president, an AFP reporter in the courtroom said.

Published 26 Nov, 2020 01:58pm

Pakistan

CM Punjab approves parole of Shehbaz Sharif, Hamza Shehbaz

The leader of opposition in National Assembly and his son sought a two-week parole on Monday. On Wednesday, the provincial cabinet approved only a five-day parole and forwarded the summary to CM for approval.

Published 26 Nov, 2020 01:40pm

Technology

China terms India’s latest app ban as ‘glaring violation of market principles’

"These moves in glaring violation of market principles and WTO rules severely harm the legitimate rights and interests of Chinese companies. China firmly rejects them,” said Foreign Ministry Spokesperson Zhao Lijian in a presser.

Published 26 Nov, 2020 01:11pm

Pakistan

Pakistan summons Indian diplomat over recent LoC violations

Ansar, 33, father of three daughters, was martyred after being hit by Indian troops' indiscriminate firing while he was moving on Motorbike near his house in Garhi village in Bagsar Sector.

Published 26 Nov, 2020 01:01pm

Pakistan

Pakistan records highest coronavirus cases since July with 3,306 new infections

PM said the government has decided not to shut down factories and businesses.

Published 26 Nov, 2020 12:25pm

Currency

Over $100mn deposited in Roshan Digital Accounts, $50mn invested in NPCs

The senator further informed that over 44,000 accounts have been opened by “our great Overseas Pakistanis.”

Published 26 Nov, 2020 12:15pm

Sports

Six members of Pakistan's touring squad to New Zealand test positive for COVID-19

Six members of Pakistan's touring squad to New Zealand has reportedly tested positive for COVID-19.

Updated 26 Nov, 2020 11:56am

Life & Style

Mads Mikkelsen to replace Johnny Depp in next Fantastic Beasts movie

The Danish actor, known for his role as serial killer Hannibal Lecter, will play Gellert Grindelwald in the billion-dollar Harry Potter spin-off franchise.

Published 26 Nov, 2020 11:37am

Business & Finance

International transit activity initiates at Gwadar Port

FBR has already notified International Transshipment Rules vide SRO 218(I)/2020 dated 10.03.2020.

Published 26 Nov, 2020 11:38am

Life & Style

Meghan Markle reveals she had miscarriage in July

The duchess, 39, said she was sharing her story to help break the silence around an all-too-common tragedy.

Updated 26 Nov, 2020 11:37am

Business & Finance

CAA issues new guidelines for foreign travelers amid second COVID-19 wave

The new Civil Aviation Authority Advisory will remain in effect until December 31, 2020.

Published 26 Nov, 2020 11:17am

Business & Finance

Oil rally boosted by surprise fall in U.S. stocks

Brent futures were up 45 cents, or 0.9%, at $49.06 a barrel by 0245 GMT, after rising around 1.6% in the previous session.

Published 26 Nov, 2020 10:42am

Currency

Dollar losses put on hold but long-term outlook tilts to downside

The British pound traded near a more than two-month high against the dollar as investors awaited details on trade talks between Britain and the European Union this week.

Published 26 Nov, 2020 10:40am

Business & Finance

Former World Bank chief and 'voice for the poor' Wolfensohn dies aged 86

In 1979, he helped orchestrate the rescue of Chrysler Corp from the verge of bankruptcy, together with Chrysler’s chief executive Lee Iacocca and Paul Volcker, who was then president of the New York Federal Reserve.

Published 26 Nov, 2020 10:39am

Companies

Tesla raises prices for Model S across Europe

Earlier in the day, Electrek reported here that the price hike also included Model X sport utility vehicle and Model 3 sedans.

Published 26 Nov, 2020 10:38am

Currency

Bitcoin falls 6% in Asian trade

Bitcoin, the world’s biggest and best-known crypto-currency, has risen 358.6% from the year’s low of $3,850 on March 13.

Published 26 Nov, 2020 10:36am

Pakistan

Bilawal Bhutto tests positive for COVID-19

He said he is self-isolating with mild symptoms.

Published 26 Nov, 2020 09:54am

World

Abu Dhabi crown prince, Israeli PM nominated for Nobel Peace Prize

The winner of the 2021 Nobel Peace Prize will be announced in October next year.

Published 26 Nov, 2020 10:01am

Technology

U.S. grants ByteDance new seven-day extension of TikTok sale order: filing

The new deadline is Dec. 4, TikTok said in the filing.

Published 26 Nov, 2020 09:26am

World

Trump pardons former adviser Flynn, who pleaded guilty in Russia probe

A retired Army general, Flynn pleaded guilty to lying to the FBI about interactions he had with Russia’s ambassador to the United States in the weeks leading up to Trump’s inauguration in January 2017.

Published 26 Nov, 2020 09:22am

BR Research

Ghani Global Glass Limited

Ghani Global Glass Limited (PSX: GGGL) was established in 2007 as a private limited company under the Companies Act,...

Published 26 Nov, 2020 07:45am

BR Research

The ‘Gyara-Gyara’ extravaganza!

Where sales in Pakistan were once only seasonal and that too profoundly limited; they have played a contributory ...

Published 26 Nov, 2020 07:40am

BR Research

Does ethanol drive cane demand?

Earlier this week, BR Research estimated that the domestic sugar industry shall comfortably achieve production of ...

Published 26 Nov, 2020 07:35am

BR Research

‘Normal’ is the new normal?

It’s the return of the old and the familiar that is causing part excitement and part relief after Trump’s 24/7...

Published 26 Nov, 2020 07:30am

BR Research

Subsidy on interest rates

For a long time, the subsidy in Pakistan remained mainly for affluent consumption and the poor had to pay more –...

Published 26 Nov, 2020 07:25am

MoIP clarification

ISLAMABAD: A news item published in Business Recorder, Ministry of Industries and Production (MoIP) has clarified...

Updated 26 Nov, 2020 04:01am

Citizens of 13 countries: UAE halts new visas over ‘security concerns’

DUBAI: The United Arab Emirates has stopped issuing new visas to citizens of 13 mostly Muslim-majority countries,...

Updated 26 Nov, 2020 04:01am

Pakistanis talk of their ‘ordeal’

ISLAMABAD: A number of Pakistani nationals working in the United Arab Emirates (UAE) were reportedly asked to leave...

Updated 26 Nov, 2020 04:01am

Reconstitution of PTV board: PM expresses his displeasure

ISLAMABAD: Prime Minister Imran Khan has reportedly expressed his unhappiness at the reconstitution of PTV Board as...

Updated 26 Nov, 2020 04:01am

Key findings of OICCI IPR Survey 2020 announced

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) on Wednesday announced the key findings of its...

Updated 26 Nov, 2020 04:01am

UN given dossier on India

UNITED NATIONS: Pakistan's Ambassador to the United Nations, Munir Akram, on Tuesday handed over to UN...

Updated 26 Nov, 2020 04:01am

Six major generals promoted to rank of lieutenant general

ISLAMABAD: Six major generals of the Pakistan Army including former director general Inter-Services Public Relations...

Updated 26 Nov, 2020 04:01am

Currency

Expensive energy ‘biggest’ problem, WEF told

ISLAMABAD: Prime Minister Imran Khan has described expensive energy as the “biggest” problem in Pakistan as the...

Updated 26 Nov, 2020 03:55am

Exchange

Increase in power, gas tariffs deferred by 3 to 4 years: SAPM

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has deferred increase in power and gas tariffs by three to...

Updated 26 Nov, 2020 03:55am

EU derivatives decision leaves London in the lurch

LONDON: London's dominance of the multi-trillion dollar global derivatives market is at risk after a regulator said...

Updated 26 Nov, 2020 03:55am

RLNG-fired power plants: Sell-off plan faces difficult situation

ISLAMABAD: The privatisation of Re-gasified Liquefied Natural Gas (RLNG)-fired power plants is reportedly in hot...

Updated 26 Nov, 2020 03:55am

PM apprehends impending harm to economy

LAHORE: Prime Minister Imran Khan said on Wednesday that with the blessing of Almighty Allah, the nation not only...

Updated 26 Nov, 2020 03:55am

ST relief on import of 61 Covid-related items

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted sales tax on the import of 61 Covid-related...

Updated 26 Nov, 2020 03:55am

$19.85m grant deal inked with WB

ISLAMABAD: The government of Pakistan and the World Bank Wednesday signed grant agreement “Covid-19 Response,...

Updated 26 Nov, 2020 03:55am

Business & Finance

‘CPEC turns Pak-China strategic ties into economic relations’

ISLAMABAD: The government has stated that the China-Pakistan Economic Corridor (CPEC) has transformed decades’ old...

Updated 26 Nov, 2020 03:55am

Letters

India’s growing belligerence

That India has gone too far insofar as its growing belligerence against Pakistan is concerned is a fact. It has...

Updated 26 Nov, 2020 03:24am

Opinion

Corporate responsibility on ballot in Switzerland

Swiss voters are to decide Sunday whether to impose the world’s strictest corporate responsibility rules, making...

Updated 26 Nov, 2020 03:24am

Currency

‘State-sponsored’ corruption in fiscal policies of Pakistan — II

The primary question is whether our legislators who vehemently promote ‘democracy’ as defined by them ever...