News Archives for Latest - 2020-12-04

Yarn Prices

Karachi Yarn Market Rate

KARACHI: Karachi Yarn Market Rates on Thursday (December 3, 2020).

Updated 06 Dec, 2020 04:22am

Technology

Fatima Gobi Ventures Announced Two Investments in InventHub & Safepay at 021Disrupt 2020

Fatima Gobi Ventures announced its investment in two new startups, InventHub & Safepay, today at 021Disrupt 2020, an online conference by Nest I/O.

Updated 05 Dec, 2020 04:07pm

Commodities

Brazil soy farmers sell estimated 75.4mn tonnes in advance

Considering Brazil is poised to collect 133.517 million tonnes of the oilseeds this season.
At this time last season, forward sales of Brazil's most prized export commodity represented 37.8% of the estimated crop.

Updated 05 Dec, 2020 12:11am

Companies

Boeing cuts 787 jetliner production as deliveries slow

The reduction to five jets a month from six will take place by mid-2021 and follows a downturn in demand for long-haul jets.
Extra quality inspections are taking longer than expected and will continue to slow deliveries in December, he added.

Published 04 Dec, 2020 11:19pm

Commodities

Copper strides to highest peaks since 2013 on US stimulus plans

Copper has regularly hit new multi-year highs and shares touched record levels over the past week.
The US stimulus news has definitely helped risk appetite, which has been strong ever since the good news about vaccines.

Published 04 Dec, 2020 11:16pm

Energy

European shares rise on oil gains, stimulus hopes

FSTE 100 up 0.9%, hits 9-month peak.
EU says post-Brexit trade deal could be clinched this weekend.
German October industrial orders beat expectations.
Declining jobs growth in US raises fiscal stimulus hopes.

Published 04 Dec, 2020 11:13pm

USA

Pompeo says violence levels in Afghanistan 'unacceptably high'

The negotiations were to have begun on March 10 under an US-Taliban accord for a US troop withdrawal.
"I made clear to them that the violence levels can't continue while these negotiations go on and it won't work," Pompeo said.

Published 04 Dec, 2020 11:01pm

USA

WHO hopes to have half a billion vaccine doses through COVAX facility in Q1 2021

The goal is to get at least 2 billion doses by end of 2021 which will be enough to vaccinate 20 pct of populations of countries that are part of COVAX.
That is enough, just, to bring to an end the acute phase of pandemic.

Published 04 Dec, 2020 10:55pm

USA

Pompeo says Iran 'desperately' keen to return to talks for sanctions relief

Tensions between Washington and Tehran have risen since 2018, when President Donald Trump abandoned a 2015 nuclear deal.
US sanctions have crippled the Iranian economy but so far have not led to the opening of a negotiation for a new nuclear deal between Iran and the United States.

Published 04 Dec, 2020 10:39pm

Pakistan

Govt taking steps to restructure national institutions: Dr.Gill

Dr. Shahbaz Gill said, Pakistan Tehreek-e-Insaf (PTI) government was working efficiently to stabilize the economy and to bring improvement in the living standard of the common man.

Published 04 Dec, 2020 09:43pm

Pakistan

COVID19 claims eight more lives, infects 1664 others

Syed Murad Ali Shah said that 15,500 samples were tested against which 1,664 cases were detected which constituted 10.7 percent current detection rate.

Published 04 Dec, 2020 09:40pm

World

WHO chief warns poor could be 'trampled' in vaccine push

Britain has become the first Western nation to approve a vaccine for Covid-19, with the United States and other countries expected to follow soon and begin mass immunization drives.

Published 04 Dec, 2020 09:37pm

Pakistan

Financial inclusion of disabled persons vital for role in socio-economic uplift: President

Chairing a meeting on financial inclusion of PWDs, at Aiwan-e-Sadr, he said that it was essential to bring differently-abled people (DAPs) into the mainstream and empower them economically.

Published 04 Dec, 2020 09:35pm

Pakistan

Islamabad Mayor election to be held on Dec 28: ECP

It said that the public notice would be issued by the Returning Officer on December 9 while the date of filing of nomination papers with the Returning Officer by the candidates would be December 11.

Published 04 Dec, 2020 09:34pm

Pakistan

President appreciates SBP, other banks for financial inclusion of disabled

The meeting took stock of the progress on decisions made for improving the accessibility infrastructure for persons with disabilities, said SBP statement here.

Updated 04 Dec, 2020 09:33pm

China

China tweet that enraged Australia propelled by 'unusual' accounts, say experts

A Chinese official’s tweet of an image of an Australian soldier that sparked a furious reaction from Canberra was amplified across social media by unusual accounts, of which half were likely fake.
57.5% of accounts that engaged with Zhao’s tweet were fake, and “evidence of a largely orchestrated disinformation campaign” to amplify its message.

Published 04 Dec, 2020 09:12pm

Middle East

Saudi foreign min says he hopes efforts to end Gulf row succeed

Kuwait said earlier on Friday that progress had been made towards ending a row that has seen Saudi Arabia and its allies impose a diplomatic, trade and travel embargo on Qatar since mid-2017.

Published 04 Dec, 2020 09:09pm

USA

White House's Kudlow says U.S. economy still strong despite jobs report

"When you look at the whole economic landscape, I would say it's still very strong and I would say it's still a V-shaped recovery,"

Published 04 Dec, 2020 09:06pm

Financial

Yields surge as jobs report seen spurring stimulus talks

The benchmark 10-year yield, which hit its highest level since March at 0.981pc, was last up 5.2 basis points at 0.9725pc.

Published 04 Dec, 2020 09:02pm

Forex

Dollar set for worst week in a month; investors shrug off U.S. jobs data

Upbeat announcements on vaccinations have helped drive a rally in riskier currencies, while actions taken by the Federal Reserve have weakened the greenback.

Published 04 Dec, 2020 08:53pm

Stocks

US stocks open higher as market weighs stimulus prospects

The US added 245,000 new jobs last month, much below the level expected by analysts, although the unemployment rate dipped to 6.7 from 6.9 percent, the lowest since the pandemic struck.

Published 04 Dec, 2020 08:46pm

Europe

UK defends fast pace of Covid vaccine approval

The UK's drugs regulator gave emergency approval for the vaccine on Wednesday, and the government plans to start rolling it out next week.

Published 04 Dec, 2020 08:43pm

South Asia

Gas leak traps 23 Chinese miners underground

Mining accidents are common in China, where the industry has a poor safety record and regulations are often weakly enforced.

Updated 04 Dec, 2020 08:43pm

Pakistan

WHO donates vehicles to NHSR&C ministry to effectively work against coronavirus

His dedication and sterling work to coordinate Corona response efforts are exemplary and we are happy to see so much work done by WHO and we appreciate it.

Published 04 Dec, 2020 08:15pm

Europe

UK hangs tough on sovereignty as Brexit trade talks near climax

European Union officials stated that a post-Brexit trade deal could finally be clinched this weekend.
London insisted that negotiations were still “very difficult” and it was determined to “take back control” from the bloc it left 10 months ago.

Published 04 Dec, 2020 08:14pm

Pakistan

Health dept orders HDUs, ICUs operational during 2nd wave of COVID-19

He said that the total number of serious patients admitted in the city hospitals were 396, while the number of critical patients were 152.

Published 04 Dec, 2020 08:13pm

Pakistan

School sealed, hotels fined over SOPs violation in Hazro

On the directives of Deputy Commissioner (DC), the Assistant Commissioner (AC) Hazro Shagufta Jabeen imposed fine on two different hotels worth Rs. 10 thousand for violating the government's Coronavirus precautionary measures.

Published 04 Dec, 2020 08:09pm

Pakistan

SBP injects Rs715.6 billion into market

The rate of return accepted is 7.03 percent per annum.

Published 04 Dec, 2020 08:07pm

USA

First U.S. delivery of COVID-19 vaccine will leave out many high-risk workers

The U.S. government’s first shipment of millions of coronavirus vaccine doses will fall far short of protecting high priority groups such as healthcare workers.
The first shipment is expected to cover inoculations of 3.2 million people, nowhere near enough for the 21 million U.S. healthcare workers.

Published 04 Dec, 2020 08:03pm

Pakistan

Exports increase 2.11pc in 5 months, 7.67pc in November

The imports into the country during the period under review also increased 1.29 percent by going up from $19.175 billion last year to $19.422 billion during the current fiscal year.

Published 04 Dec, 2020 08:06pm

Pakistan

PM calls for $ 500 billion fund for poor countries: Shibli

In a tweet on social media platform Twitter, he said the ten point agenda to tackle coronavirus in the world was reflective of the leadership abilities of Prime Minister Imran Khan.

Published 04 Dec, 2020 08:04pm

Pakistan

PM directs removing hurdles in foreign investment in country

He said strengthening of industrial sector would boost the country's revenue and provide better employment opportunities to the people.

Published 04 Dec, 2020 08:01pm

Pakistan

Sindh govt. provides land to AIOU for regional office

The land has been allocated for provision of low-cost education to the poor and marginalized strata of the society in the Sindh province, a press release said.

Published 04 Dec, 2020 07:59pm

Pakistan

Gold price declines Rs300 to Rs110,300 per tola

The price of per tola and ten gram silver remained stable at Rs1220 and Rs. 1045.95 respectively.

Published 04 Dec, 2020 07:57pm

Pakistan

Bullion prices on Friday

Following were the bullion prices in Karachi on Friday.

Published 04 Dec, 2020 07:56pm

Pakistan

Kitchen items' prices ease as SPI falls 0.23 pc: PBS

The weekly SPI with base year 2015-16 =100 is covering 17 urban centers and 51 essential items for all expenditure groups.

Published 04 Dec, 2020 07:54pm

Pakistan

CPEC related projects completion to usher in era of prosperity in KP: NA Speaker

He asked the departments concerned to strive for early and timely completion of CPEC related projects in the province.

Published 04 Dec, 2020 07:49pm

Pakistan

Cold & dry weather forecast for city

On Friday, maximum and minimum temperatures were recorded as 25.1 degree centigrade and 10.3 degree centigrade respectively.

Published 04 Dec, 2020 07:47pm

Pakistan

Sindh Police reports 25 new COVID-19 patients in three days

He told that currently 227 officers and personnel were under treatment while 3481 had return to their homes after recovering from the disease.

Published 04 Dec, 2020 07:43pm

Pakistan

World competition day, 2020 set to ‘Enhancing Economic efficiency of SMEs’

The CCP realizes that the SME sector deserves a special focus in the aftermath of the COVID-19 pandemic and its sustenance will depend on the support it gets from the relevant quarters.

Published 04 Dec, 2020 07:41pm

Pakistan

SBP waives off E-form up to $ 5000 for eCommerce exports: Dawood

“I express my gratitude to the Governor SBP for his valuable support.” the adviser said this on his twitter account.

Published 04 Dec, 2020 07:40pm

Pakistan

PM urges enhanced use of Citizen Portal for public empowerment, govt’s accountability

The prime minister said the portal would also help the government know the issues in administration as well as the good and bad performing ministries and departments.

Published 04 Dec, 2020 07:37pm

Pakistan

Second wave of corona more dangerous: Dr. Firdous

The rejected elements in the PDM were showing stubbornness and this negative style of politics was very condemnable, she said.

Published 04 Dec, 2020 07:35pm

Pakistan

COVID-19 cases increasing, adopt SOPs: DC

Chairing a meeting to review anti-coronavirus arrangements here at his office, he directed the officials to ensure implementation of C virus SOPs at public places.

Published 04 Dec, 2020 07:34pm

Pakistan

CM asks his special assistant to project welfare projects comprehensively

The chief minister directed the SACM to project the government performance and public welfare projects comprehensively.

Published 04 Dec, 2020 07:31pm

Pakistan

CDA to construct 100 public toilets capital during first phase

According to a press release of CDA, 100 toilets in the first phase and 15 more toilets in the second phase would be constructed.

Published 04 Dec, 2020 07:29pm

Pakistan

LHC seeks report on plea against ad for appointment of SIMS principal

The court directed the provincial law officer to seek instructions from the competent authority and submit a report on the next date of hearing, December 7.

Published 04 Dec, 2020 07:28pm

Pakistan

Government to introduce new local bodies system after elections, says PM Khan

Prime Minister Imran Khan termed the Pakistan Citizen Portal as the "first step on the journey to people's empowerment".
The government will be introducing a new local bodies system.

Updated 04 Dec, 2020 07:29pm

Pakistan

CM seeks report on Pindi blast

He ordered for bringing the culprits to book at the earliest and directed the administration to provide the best treatment facilities to the injured.

Published 04 Dec, 2020 07:26pm

Pakistan

COVID-19 SOPs compliance week to start from Saturday

The official said the people will be appealed during the week to follow SOPs like social distancing, hand sanitizing or washing, wearing of face mask etc.

Published 04 Dec, 2020 07:25pm

Pakistan

Prime Minister taking positive steps for durable growth of country: Sheikh Rasheed

He expressed these views while talking to media personnel during inspecting of ITTMS project and National Logistics Cell (NLC) at Pak-Afghan border near Chaman area of Killa Abdullah district.

Published 04 Dec, 2020 07:23pm

USA

US job gains stall in November as Covid-19 cases surge

And while the Labor Department data showed the unemployment rate dipped to 6.7 from 6.9 percent, the lowest since the pandemic struck, 10.7 million workers remain unemployed.

Published 04 Dec, 2020 07:21pm

Pakistan

AJK President apprise envoys of OIC member states of Kashmir situation

The President also interacted with the ambassadors of various Muslim countries before and after the briefing and apprised them of the latest situation of occupied Jammu and Kashmir.

Published 04 Dec, 2020 07:17pm

Business & Finance

Lakson VC leads a $1,000,000 Pre-Series A round in Roomy.pk

Roomy.pk is a business sharing the budget hotel market economy with unbranded hotel property owners making it affordable for people to obtain branded quality hotel facilities at a cheaper price by tapping the underutilized inventory of local unbranded budget hotels.

Published 04 Dec, 2020 07:10pm

Pakistan

Last solar eclipse to be observed globally on Dec 14

As per the met office, the last solar eclipse of 2020 could not be observed in Pakistan, however, It could be seen in other parts of the globe including South Africa, countries in South America, and other parts of the world.

Published 04 Dec, 2020 07:05pm

South Asia

China's Clover says its COVID-19 vaccines trigger ‘strong immune responses’ in early trial

The vaccines did not trigger any serious adverse reactions on the 150 adult and elderly people that participated in the trial, the company said.

Published 04 Dec, 2020 07:02pm

South Asia

Japan PM Suga says to decide new economic package next week

Suga also said Japan would set aside 1 trillion yen to promote digital transformation in the stimulus package.

Published 04 Dec, 2020 06:58pm

World

Worldwide coronavirus cases cross 64.92 million, death toll at 1,505,057

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

Published 04 Dec, 2020 06:57pm

Business & Finance

Russia's central bank to offer up to $21.55bn at Dec 7 repo auctions

Liquidity at such actions became more affordable after the central bank slashed its key rate to a record low of 4.25pc this year.

Published 04 Dec, 2020 06:55pm

Forex

Canadian dollar forecasts shift higher as Ottawa pads economic support

Canada's dollar has strengthened 14pc against its U.S. counterpart since March, reaching a two-year high on Thursday at 1.2848 per U.S. dollar, or 77.83 U.S. cents.

Published 04 Dec, 2020 06:52pm

Sports

Japanese organisers say 2020 Games delay to cost them $2.8bn

Organisers have been assessing the financial impact of the delay since the Japanese government and International Olympic Committee (IOC) decided in March to postpone the Games until 2021.

Published 04 Dec, 2020 06:47pm

Commodities

Turkey starts buying wheat in tender

The tonnages purchased and prices are provisional and still subject to final confirmation in coming days, traders said.

Published 04 Dec, 2020 06:45pm

Forex

Ugandan shilling a notch firmer on ebbing demand

At 0937 GMT commercial banks quoted the shilling at 3,675/3,685, compared to Thursday's close 3,680/3,690.

Published 04 Dec, 2020 06:43pm

Forex

Russia's rouble firms on higher oil prices; Turkish lira slips

The rouble rose about 0.3pc to hover at three-month highs against the dollar, also supported by hopes that a working COVID-19 vaccine would speed up a global economic recovery next year.

Published 04 Dec, 2020 06:40pm

Europe

Bulgaria prepares for COVID-19 vaccines as death rates spike

He has previously said Bulgaria expects to start inoculations a week after the first 125,000 shots of Pfizer's COVID-19 vaccine arrive around the New Year.

Published 04 Dec, 2020 06:38pm

Energy

UK GAS-Prices rise on undersupply as temperatures dip

Traders said lower forecast temperatures, combined with a dip in supply from the country's liquefied natural gas (LNG) terminals, had buoyed prices.

Published 04 Dec, 2020 06:37pm

Business & Finance

Bank of Canada will not ramp up bond buying, economists say

That was despite plans for C$100 billion of fiscal stimulus from the government, ultra-low interest rates and a scheduled C$16 billion of asset purchases per month by the BoC.

Published 04 Dec, 2020 06:34pm

Business & Finance

German industrial orders rise more than expected in October

Figures from the Economy Ministry showed domestic orders rose 2.4pc on the month, while orders from abroad were 3.2pc higher. Contracts from the euro zone increased by 0.5pc.

Published 04 Dec, 2020 06:31pm

Pakistan

Bilawal Bhutto tests negative for COVID-19

PPP leader was tested positive for the novel coronavirus (COVID-19) on November 26. He went into isolation immediately after being infected.
The PPP workers are planning to put up a grand reception on arrival of Bilawal Bhutto in Lahore ahead of the rally, while arrangements in this regard have already begun, states the report.

Published 04 Dec, 2020 06:31pm

South Asia

China's CNOOC says 'shocked, regretful' over being added to U.S. blacklist

The move was based on "false and inaccurate information", state-owned CNOOC said in a statement on its website.

Published 04 Dec, 2020 06:29pm

World

Moscow launches online registration for COVID-19 vaccination

Sputnik V, one of two Russian-made vaccines to have received regulatory approval in Russia despite clinical trials being incomplete, requires two injections.

Published 04 Dec, 2020 06:26pm

Sports

South Africa-England ODI moved to Sunday after positive COVID-19 case

The decision places a spotlight on the South Africa camp and their protocols during a tour that will provide much-needed revenue for struggling CSA.

Published 04 Dec, 2020 06:21pm

Europe

EU antitrust regulators order Italy to end tax exemptions for ports

The European Commission, whose decision came after a year-long investigation, said profits earned by port authorities from economic activities must be taxed under normal corporate tax laws.

Published 04 Dec, 2020 06:20pm

Stocks

India's Sensex closes above 45,000 level as central bank raises GDP target

The S&P BSE Sensex closed 1pc higher at 45,079.55 while the NSE Nifty 50 index ended 0.95pc higher at a record closing high of 13,258.55.

Published 04 Dec, 2020 06:17pm

Energy

Oil moves up towards $50/bbl after OPEC+ supply compromise

OPEC+ had been expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd.

Published 04 Dec, 2020 06:14pm

Business & Finance

Bank of England's Saunders says floor for rates might be just below zero

Members of the BoE's Monetary Policy Committee have expressed differing views over the suitability for Britain of negative rates, which have been used in other European countries and in Japan.

Published 04 Dec, 2020 06:12pm

Forex

China comfortable with yuan rises for now as economy recovers, sources say

"Yuan appreciation is supported by China's economic fundamentals," said Yu Yongding, an influential government economist who previously advised the People's Bank of China.

Published 04 Dec, 2020 06:09pm

Commodities

Palm climbs 3pc to 8-1/2 year high on forecasts of tightening stockpile

After weeks of speculation, Indonesia on Thursday said it would impose higher levies on crude palm oil starting Dec. 10, a move that could impact demand next year.

Published 04 Dec, 2020 06:07pm

Forex

Sterling reverses losses after EU official sees ‘imminent’ Brexit deal

The British currency is see-sawing, sometimes wildly, on comments from UK and EU officials on the likelihood of a deal as the final Brexit deadline looms.

Published 04 Dec, 2020 06:04pm

Commodities

Copper strides to highest peaks since 2013 on U.S. stimulus plans

Copper, often used as a gauge of global economic health, was poised for a fifth straight weekly gain with a rise of 3.4pc.

Published 04 Dec, 2020 06:02pm

Europe

Norway to use three vaccines to stop COVID-19 from early 2021

In the first quarter of 2021, Oslo expects to receive a total of 2.5 million doses, covering 1.25 million people, pending approval of the vaccines from European regulators. Norway's population is 5.4 million.

Published 04 Dec, 2020 06:00pm

Stocks

Sri Lankan shares extend rally as energy, consumer stocks drive gains

Foreign investors were net sellers, offloading 357.8 million Sri Lankan rupees ($1.93 million) worth of shares, according to exchange data.

Published 04 Dec, 2020 05:58pm

Business & Finance

Thai central bank says economy may shrink less than forecast this year

In September, the BOT forecast the tourism-reliant economy would shrink a record 7.8pc this year before growing 3.6pc in 2021.

Published 04 Dec, 2020 05:56pm

South Asia

Japan court revokes state approval for Ohi nuclear reactors

The court ruled in favour of about 130 plaintiffs who claimed that the Ohi No. 3 and No. 4 reactors are vulnerable to major earthquakes, according to Kyodo.

Published 04 Dec, 2020 05:54pm

South Asia

China says U.S. legislation targeting Chinese firms discriminatory

The U.S. Congress has passed legislation that would force Chinese firms to delist from U.S. exchanges unless they abide by U.S. accounting rules.

Published 04 Dec, 2020 05:52pm

Sports

France team to face England in the Autumn Nations Cup

Replacements: 16-Peato Mauvaka, 17-Rodrigue Neti, 18-Uini Atonio, 19-Guillaume Ducat, 20-Sekou Macalou, 21-Sebastien Bezy, 22-Louis Carbonel, 23-Pierre-Louis Barassi.

Published 04 Dec, 2020 05:50pm

Stocks

Aston Martin shareholders green light third capital injection this year

Shares in the London-listed company, which have lost half of their market value this year, rose 4.5pc to 78.65 pence by 1106 GMT.

Published 04 Dec, 2020 05:47pm

Business & Finance

Norway central bank deputy chief steps down over security clearance

In addition to taking part in setting monetary policy, Nicolaisen had been in charge of overseeing Norway's $1.2 trillion sovereign wealth fund, the world's largest.

Published 04 Dec, 2020 05:45pm

Commodities

Algeria said to buy about 35,000 tonnes corn in tender

It was believed to have been purchased at about $245 a tonne c&f.

Published 04 Dec, 2020 05:43pm

Technology

Industry Valley Capital Launching a Dedicated Program for Returning Pakistanis

Industry Valley Capital has announced the launch of a dedicated program for returning Pakistani, known as Wapistani, today at 021Disrupt 2020, an online conference by Nest I/O.

Updated 04 Dec, 2020 05:44pm

Forex

Currencies slide as markets eye EU budget veto developments

The Hungarian forint slid 0.43pc and was trading at 358.50 per euro as markets waiting for developments regarding the European Union's budget and coronavirus rescue package.

Published 04 Dec, 2020 05:40pm

Europe

Spain seeks to vaccinate 15-20mn people by mid-2021, PM says

The Spanish government intends to vaccinate between 15 and 20 million people against the coronavarius by May or June next year, Prime Minister Pedro Sanchez said on Friday.

Published 04 Dec, 2020 05:38pm

Life & Style

197 musicians from every country unite to record unique song

The project has been three years in the making.

Updated 04 Dec, 2020 05:39pm

Europe

Swiss approve agreement on service workers mobility with Britain

The agreement, which also contains provisions on the recognition of professional qualifications, replaces the current measures on free movement of people which lapses on Jan.1.

Published 04 Dec, 2020 05:36pm

Business & Finance

China's car production may face disruptions from chip shortage: VW says

Volkswagen also said it was closely monitoring the situation, and had already started coordinating with its HQ and suppliers to take appropriate countermeasures.

Published 04 Dec, 2020 05:34pm

Europe

Brexit briefing for EU envoys cancelled due to ‘intensive negotiations’

An update on the latest in Brexit trade talks by EU negotiator Michel Barnier for national envoys to the bloc will not go ahead on Friday "due to the ongoing intensive negotiations in London".

Published 04 Dec, 2020 05:32pm

Forex

Turkish lira's real effective exchange rate near record low

The rate, announced by the central bank, measures the weighted average of domestic prices relative to those of Turkey's trading partners. It stood at 60.54 in October.

Published 04 Dec, 2020 05:31pm

Financial

German bond yields dip before U.S. jobs data, but set for biggest weekly rise since Pfizer

German benchmark 10-year bond yields, which had followed Treasuries higher but then retraced much of their rise on Thursday, were down about 1 basis point on Friday to -0.55pc

Published 04 Dec, 2020 05:29pm

Commodities

Gold heads for weekly gain on muted dollar, U.S. stimulus bets

Spot gold was little changed at $1,838.44 per ounce by 1131 GMT, and has added about 3pc so far this week. U.S. gold futures were up 0.1pc at $1,842.50.

Published 04 Dec, 2020 05:26pm

Europe

Poland is not changing EU budget stance, says PM

"We say clearly that we are not able to accept the budget for the next seven years if at the same time that regulation is adopted. Our partners see that our position does not change," Morawiecki told.

Published 04 Dec, 2020 05:24pm

USA

First U.S. delivery of COVID-19 vaccine will leave out many high-risk workers

Across the country, state health departments are preparing local hospitals for the first shipments of Pfizer Inc's COVID-19 vaccine if the U.S. Food and Drug Administration authorizes it, possibly as early as mid-December.

Published 04 Dec, 2020 05:20pm

Pakistan

COVID-19: Karachi's District West to go under lockdown till Dec 18

Baldia Town, Gadap, Keamari, Islamnagar, Saeedabad, Mohajir Camp, Maymarabad, Yousuf Goth, Data Nagar, Hanifabad, Pak Colony, Metroville, Bawani Chali, and Frontier Colony will undergo lockdown starting from tomorrow.
District commissioner said all businesses will remain closed, with the exception of grocery stores, pharmacies, as well as shops selling staples and items of day-to-day use.

Updated 04 Dec, 2020 05:21pm

Europe

Irish GDP rose by 11.1pc during Q3 reopening of economy

Irish GDP fell by 3.2pc quarter-on-quarter from April to June, revised on Friday from an initial estimate of -6.1pc.

Published 04 Dec, 2020 05:18pm

Financial

Greece to auction 625mn euros of one-year T-bills on Dec 9

Primary dealers can submit non-competitive bids for up to an additional 30pc of the auctioned amount until Dec. 10, PDMA said.

Published 04 Dec, 2020 05:05pm

Business & Finance

SECP: How to open a brokerage account online?

It is expected that the new regime would revolutionize Pakistan’s capital markets and contribute significantly towards economic growth in the country by channeling investments and savings through the market.

Published 04 Dec, 2020 04:59pm

USA

Biden says he has asked Fauci to stay on and join COVID-19 team

President-elect Joe Biden has asked top U.S. infectious disease expert Anthony Fauci to continue in his job and serve as Biden’s chief medical adviser and on the COVID-19 team after Biden takes office on Jan. 20, Biden said on Thursday.
Despite news that vaccines against the virus may begin to be distributed in the coming weeks, the U.S. is experiencing a new surge in hospitalisations and deaths.

Published 04 Dec, 2020 04:40pm

World

Drug Dealers on the Dark Web are illegally selling 'Pfizer COVID Vaccines'

As the United Kingdom is slated to be the first country in the world to carry out a large-scale rollout of the Sars-CoV2 vaccine, the dark corners of the internet are inundated with the "Pfizer COVID-19 vaccine" for sale.
These unverified doses of the vaccine could cost as much as $1300 per dose; blatantly exploiting the unprecedented demand for vaccinations amidst the second wave of the pandemic.

Updated 04 Dec, 2020 04:40pm

Pakistan

Punjab govt to construct three new parks to combat air pollution

One of the parks will span across 13,700 acres at the Kalar Kahar Salt Range while two recreational parks will be built at Kheri Murat and Pabbi Rasool spreading across 8,749 acres and 38,874 acres respectively.
Awan said that the move will not only provide safe havens for wildlife but also promote tourism in the province.

Published 04 Dec, 2020 04:18pm

Technology

More than 400 lawmakers from 34 countries back 'Make Amazon Pay' campaign

“We urge you to act decisively to change your policies and priorities to do right by your workers, their communities, and our planet,” the letter said.

Published 04 Dec, 2020 04:04pm

World

India formally protests to Canada over Trudeau remarks on farm protests

The Indian foreign ministry said in a statement that comments on “issues relating to Indian farmers constitute an unacceptable interference in our internal affairs.”
Trudeau, speaking to the Indian community in Canada, said this week that he was concerned about the farmers, most of them from the Sikh-dominated state of Punjab, camped out on the outskirts of Delhi in a protest against farm reforms.

Published 04 Dec, 2020 03:59pm

Pakistan

ECP announces schedule of by-polls for Islamabad's mayor

The post went vacant after Sheikh Anser Aziz resigned on December 1. The by-poll will take place in December 28.

Updated 04 Dec, 2020 04:03pm

Industry

E-Banking Transactions Increase by 25 pc amidst Pandemic: SBP

The use of e-Banking Channels has witnessed an increase as transaction rise by 25 percent in value and 23 percent in volume in the 1QFY21 as compared to 4QFY20, according to the State Bank of Pakistan (SBP).

Updated 04 Dec, 2020 03:58pm

Money & Banking

Pakistan’s exports witness strong recovery’ despite COVID resurgence: SBP

The central bank shared data from the Pakistan Bureau of Statistics, showing a sharp recovery of Pakistan’s exports during the year, marred by the coronavirus pandemic.

Updated 04 Dec, 2020 03:58pm

Middle East

Iran refuses to renegotiate nuclear deal until Biden Administration re-enters JCPOA, according to Zarif

On Thursday, Iranian Foreign Minister Mohammad Javad Zarif told the Rome Mediterranean Dialogue that if the incoming Biden Administration wants to re-enter the Iran Nuclear Deal, it must do so without any preconditions.
Zarif also spoke about the latest onslaught of U.S sanctions on Iran, which have hampered the country's efforts to combat the COVID-19 pandemic, and impeded the regime's ability to provide vaccinations.

Published 04 Dec, 2020 03:44pm

Pakistan

Al-Azizia and Avenfield cases: IHC issues written verdict, declares Nawaz proclaimed offender

In a three-page judgment, the bench observed that the accused failed to show up before the court despite being summoned repeatedly

Published 04 Dec, 2020 03:03pm

Pakistan

UNGA adopts Pak-Philippines resolution, welcomes Kartarpur Corridor initiative

The resolution on the "promotion of interreligious and intercultural dialogue" has been adopted by UNGA by an overwhelming majority, Foreign Office said .

Updated 04 Dec, 2020 03:16pm

Business & Finance

PD rejects media reports, says Govt decision saved $237mn in last 27 months

The Petroleum Division said that the total of all cargos bought in 2020 on spot was USD 353 million, or Rs 57 billion, with an average just below 12 percent.

Updated 04 Dec, 2020 03:03pm

Pakistan

Four injured in Rawalpindi blast

Police say explosion occurred in a rickshaw parked at Peer Wadhai bus stand

Published 04 Dec, 2020 02:32pm

Pakistan

IHC lambasts PTA over new social media rules

IHC Chief Justice asked who proposed these new rules and which authority approved them.

Published 04 Dec, 2020 02:38pm

Asia

Qatar foreign minister says there has been movement on resolving Gulf dispute

The United States and Kuwait have been working to end a row that has seen Saudi Arabia, the United Arab Emirates, Bahrain and Egypt sever diplomatic, trade and travel ties with Qatar since mid-2017. Washington says it wants a united Gulf front against Iran.

Published 04 Dec, 2020 02:30pm

Middle East

Indian Army Chief Gen. Naravane to visit Saudi Arabia, UAE, indicating growing ties

Indian Army Chief Gen. M.M. Naravane will be travelling to Saudi Arabia and the United Arab Emirates next week, in an unprecedented move that can be seen as a reflection of the growing relationship between India and the Gulf States.

Updated 04 Dec, 2020 02:38pm

Pakistan

16 more NAB Karachi staff members test positive for COVID-19

Employees of the anti-corruption watchdog, who are tested positive for the virus, have been quarantined.

Updated 04 Dec, 2020 02:29pm

Sports

Pakistan squad’s COVID-19 tally climbs to 10 in New Zealand

The players were confined to their rooms when the first cases emerged last week but had hoped to resume training before finishing their stint in isolation on Tuesday.

Published 04 Dec, 2020 02:06pm

World

20 years of Afghan war only gave US "a modicum of success," admits Gen. Mark Milley

Trump's top military advisor says till the time the US is supporting the Afghanistan government, Taliban cannot military defeat the regime

Published 04 Dec, 2020 01:40pm

Industry

Increase in Board Gender Diversity in the Listed Companies in Pakistan: SECP

The proportion of listed companies with women directors show an increase from 31 percent in 2017 to 58 percent in 2019, according to a recent report by the Securities and Exchange Commission of Pakistan (SECP).
SECP explains that the Listed Companies Regulations 2017 has had a positive impact on board diversity in the listed companies.

Updated 04 Dec, 2020 01:24pm

South Asia

3 killed and 19 injured in bomb blast in Paktia province

Three security personnel have been killed and 14 civilians injured in a bomb blast in the Paktia province in Afghanistan.

Updated 04 Dec, 2020 01:20pm

World

Trump spy chief labels China biggest threat to freedom since World War Two

Ratcliffe says he had shifted resources within the $85 billion annual federal budget allocated to intelligence to increase the focus on China

Published 04 Dec, 2020 12:48pm

Business & Finance

Pakistan inflation rate remains in single digits, says Asad Umar

The reduction in the rate of inflation has been sustained now for the past several weeks with SPI consistently in single digits, he added.

Published 04 Dec, 2020 12:29pm

Pakistan

Sindh CNG stations to remain closed till Saturday

However, Regasified Liquefied Natural Gas (RLNG) stations will be open and gas supply will be provided to it for the next 24 hours.
SSGC said that stations across Sindh will likely remain shut during the entire winter season due to a serious gas shortage in the province.

Published 04 Dec, 2020 12:23pm

Technology

Stripe launches embedded financial services platform Stripe Treasury

This product gives Stripe’s platform users powerful APIs to embed financial services, enabling their customers to easily send, receive and store funds.

Published 04 Dec, 2020 11:44am

Pakistan

Former accountability court judge Arshad Malik dies of COVID-19

Malik had handed ousted prime minister Nawaz Sharif seven years in jail in the Al Azizia Steel Mills corruption reference

Updated 04 Dec, 2020 11:35am

Pakistan

Qureshi expresses gratitude to OIC envoys for support on Kashmir dispute

He also thanked the OIC countries for their support in the adoption of other resolutions of importance to Pakistan, including Safeguarding the Rights of Muslim Minorities in non-OIC States.

Updated 04 Dec, 2020 11:27am

Business & Finance

MoC releases Rs 1.78bn DLTL refunds for Textile Sector

The advisor informed that the DLTL for the non-textile sector will also be released shortly.

Published 04 Dec, 2020 11:08am

World

COVID-19 could push one billion people into extreme poverty by 2030, UN warns

UN study suggests that the phenomenon can only be avoided by taking timely measures like investing in public health, social and safety net programmes and green transition

Published 04 Dec, 2020 11:04am

Business & Finance

FBR to give 90pc Tax Exemption on low-cost housing projects

So far 348 people have registered 389 projects with a total value of Rs. 157 billion.

Published 04 Dec, 2020 10:55am

PM presents 10-point agenda to fight COVID-19 globally

During his UNGA address, PM said the COVID-19 pandemic is the most serious global crisis since World War II.
Laying out his 10-point agenda to defeat coronavirus, PM requested for debt suspension till the end of the pandemic for low-income countries.

Updated 04 Dec, 2020 10:42am

Technology

U.S. in talks with Huawei CFO Meng on resolving criminal charges: source

Negotiations between Meng’s attorneys and the U.S. Justice Department picked up after the U.S. presidential election a month ago, the person said, but it is still unclear what kind of deal could be struck.

Published 04 Dec, 2020 10:21am

BR Research

Gas pricing and demand

There are plans in the making to shift the transport sector’s gas usage from domestic natural gas to privately...

Updated 04 Dec, 2020 10:22am

World

Iran likely to hold off on retaliation over scientist's killing, U.S. envoy says

Tensions between Washington and Tehran have risen since 2018, when Trump abandoned Obama’s 2015 nuclear deal, and restored harsh economic sanctions.

Published 04 Dec, 2020 10:18am

Business & Finance

Analysis: Is a post-COVID currency war coming?

Investors’ growing eagerness to buy into risky assets gave emerging market currencies their best month in nearly two years in November, stretching a run of gains that started in June.

Published 04 Dec, 2020 10:18am

Pakistan

Alarming situation: 55 more succumb to COVID-19 as country records rapid rise in infections

At least 3,262 fresh coronavirus cases were reported in the last 24 hours while the total death tally due to the deadly disease has reached 8,260

Published 04 Dec, 2020 10:05am

World

Biden says he'll publicly get a COVID-19 vaccine, keep Fauci

“People have lost faith in the ability of the vaccine to work,” Biden said.

Published 04 Dec, 2020 10:15am

Technology

Microsoft aims to help businesses get handle on data with new tool

Once known for its Windows operating system and applications such as Office, Microsoft has built a large business in cloud computing, helping store and process huge amounts of data for corporate customers.

Published 04 Dec, 2020 10:15am

World

Russian, Chinese intelligence targeting Norwegian oil secrets: report

“PST expects that the use of economic tools and network operations will increase in the next 18 months,” it said.

Published 04 Dec, 2020 10:11am

Business & Finance

Nestle to spend big to cut carbon emissions while preserving profits

“We believe we have sufficient operational and structural cost-savings initiatives under way to provide the room for these investments,” Chief Executive Mark Schneider told reporters on a call.

Published 04 Dec, 2020 10:12am

Business & Finance

Ryanair buys 75 Boeing MAX jets in largest order since grounding

Boeing shares were up 6% on the news, first reported by Reuters on Wednesday.

Published 04 Dec, 2020 10:09am

BR Research

Interview with Tabish Gauhar, Special Assistant to the Prime Minister of Pakistan on Power

‘Power sector reforms - thinking outside the box' Tabish Guahan has over 25 years of corporate, private equity,...

Published 04 Dec, 2020 07:45am

BR Research

Tele-working, broadband and inequality

Continuing with the theme of tele-working, what often gets lost in the debate is the fact that not all workers can...

Published 04 Dec, 2020 07:40am

BR Research

OMC volume game going strong

Oil sales by the oil marketing companies in November 2020 continued to grow for all the three key petroleum products...

Published 04 Dec, 2020 07:35am

BR Research

Cement: Grabbing the bull by its horns

That the cement industry is returning to its former glory days is very apparent—in Oct-20, the industry dispatched...

Published 04 Dec, 2020 07:30am

Opinion

PARTLY FACETIOUS: The PM has begun to pontificate

"It is human to be proud of one's accomplishments."

Updated 04 Dec, 2020 03:38am

Stocks

S&P climbs to record high

• Salesforce drops on $28bn deal

Updated 04 Dec, 2020 03:32am

Opinion

The new black gold? Big Oil bets on retail networks in an electric era

For Big Oil, coffee and chocolate could be the new black gold.

Updated 04 Dec, 2020 03:28am

Pakistan

Market share of smuggled cigarettes stands at an alarming 20 percent

ISLAMABAD: The market share of the smuggled cigarettes now stood at an alarming 20 percent, requiring serious ...