News Archives for Latest - 2020-12-07

Opinion

China's new growth paradigm

At the end of October 2020, the Proposals of Formulating the Fourteenth Five-Year Plan for National Economic and...

Updated 08 Dec, 2020 02:44pm

Life & Style

Universal Music buys Bob Dylan's entire catalog

The deal covers more than 600 song copyrights spanning 60 years.

Updated 08 Dec, 2020 10:25am

Life & Style

Ikea scraps famed catalogue after 70 years

The catalogues offered a snapshot on contemporary living that made them intensely popular.

Updated 08 Dec, 2020 10:23am

Pakistan

Shibli asks opposition to remain contented with their political fate for next three years

The minister regarded the PDM as a union of the affectees, who had been deprived of the power after being rejected by the people of Pakistan in the last general elections.

Published 07 Dec, 2020 09:25pm

Pakistan

Different steps taken under Green Initiatives: President

He said the world was facing environmental challenges and now it was drifting from use of oil resources towards more alternative resources.

Published 07 Dec, 2020 09:23pm

Pakistan

Dr Faisal for strict measures to control rising number of COVID-19 cases

Talking to a private news channel, he said people were not following the standard operating procedures, given by the government for combating the second wave of coronavirus.

Published 07 Dec, 2020 09:22pm

Pakistan

Optimum resources being utilized for eradication of corruption: NAB Chairman

Chairing a high level meeting of National Accountability Bureau (NAB), he said NAB had no affiliation with any political party, group or individual but with the state of Pakistan.

Updated 07 Dec, 2020 09:14pm

Pakistan

Religious scholar Mufti Zarwali Khan passes away in Karachi

He was shifted to Karachi’s Indus Hospital after his health condition deteriorated.

Published 07 Dec, 2020 09:11pm

Pakistan

Explosive material used in Karachi’s Maskan Chowrangi blast: Report

The report compiled by HEJ Research Institute of Chemistry, Karachi University found TNT material used in the Gulshan-e-Iqbal blast, which killed nine people and left over 20 injured on October 21.
The blast occurred at a ground-plus-four-story residential building, Noor Apartments, having banks and commercial shops on the ground and mezzanine floor.

Updated 07 Dec, 2020 09:06pm

Pakistan

CM to further assess KTH inquiry report on patients deaths: Kamran Bangash

He informed that the Chief Minister, Mahmood Khan has called in a high-level meeting for discussion on the report.

Updated 07 Dec, 2020 08:40pm

Pakistan

Special security arrangements during proceedings of review petitions in Justice Qazi Faez Isa case

According to the press release, advocates and journalists who regularly come for Supreme Court proceedings would be exempted from passes in the premises of Supreme Court on Tuesday (December 08).

Updated 07 Dec, 2020 08:40pm

Stocks

Wall St headed lower on Sino-U.S. tensions; stimulus deal awaited

The MSCI world equity index dipped after Reuters reported Washington was preparing to impose sanctions on some Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong.

Published 07 Dec, 2020 08:36pm

Stocks

Nasdaq hits record high; S&P 500, Dow open lower

At 9:34 a.m. ET, the Dow Jones Industrial Average was down 67.35 points, or 0.22pc, at 30,150.91, the S&P 500 was down 6.65 points, or 0.18pc, at 3,692.47, and the Nasdaq Composite was up 23.40 points, or 0.19pc, at 12,487.63.

Published 07 Dec, 2020 08:31pm

Stocks

TSX opens lower on energy drag, U.S.-Sino tensions

At 09:31 a.m. ET (14:31 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 38.4 points, or 0.22pc, at 17,482.57.

Published 07 Dec, 2020 08:29pm

Middle East

Iran hosts Syrian foreign minister in first visit abroad

Zarif emphasised the "necessity of vigilance and consultation" between Iran and Syria due to the "recent regional developments and condition", it added.

Published 07 Dec, 2020 08:20pm

Pakistan

PM for necessary measures to bring about further improvement in power sector

He further directed for the formulation of a system under which the subsidy was available only for the poor and deserving people.

Published 07 Dec, 2020 08:18pm

Pakistan

Bullion prices on Monday

Following were the bullion prices in Karachi on Monday.

Published 07 Dec, 2020 08:17pm

Pakistan

PARCO's Coastal Oil Refinery to enable country achieve production of petroleum products at local level: PM

The prime minister expressed these views while presiding over a meeting about the establishment of Coastal Oil Refinery by PARCO.

Published 07 Dec, 2020 08:10pm

Commodities

Russian wheat prices down amid healthy supply

Sovecon, another agriculture consultancy in Moscow, said wheat and barley were steady at $255 and $216 a tonne, respectively.

Published 07 Dec, 2020 08:08pm

Managed Funds

Romania says rejects bids at 2034 treasury bond tender

So far this year, Romania has sold roughly 68.3 billion lei of local currency bills and bonds as well as 2.29 billion euros worth of euro-denominated paper.

Published 07 Dec, 2020 08:06pm

Asia

Turkey court orders release of Russian reporters: official

Journalist Alexei Petrushko and cameraman Ivan Malyshkin from Kremlin-friendly NTV channel were arrested by police in Istanbul on Thursday morning.

Published 07 Dec, 2020 08:06pm

Europe

Greece to keep schools, restaurants shut until after Christmas

Greece had to enforce a nationwide lockdown in November, its second this year, after an aggressive surge in COVID-19 cases. It has extended it twice since then, most recently until Dec. 14.

Published 07 Dec, 2020 08:04pm

Europe

Hungary to maintain COVID-19 restrictions until Jan 11: PM

Orban also said in a Facebook video that New Year's Eve celebrations will not be held this year.

Published 07 Dec, 2020 08:01pm

Europe

French coronavirus infection rate unlikely to fall to lockdown threshold: minister

On Sunday, France registered 11,022 new cases, down from a high of over 86,000 per day a month ago. The number of people in ICUs fell by 10 to 3,220 on Sunday.

Published 07 Dec, 2020 07:56pm

Sports

Man Utd missing Cavani, Martial for Leipzig Champions League decider

United will qualify if they avoid defeat to Leipzig, where the Red Devils will be without attackers Cavani and Martial after they sustained knocks in Saturday's 3-1 comeback win at West Ham.

Published 07 Dec, 2020 07:52pm

Commodities

SOFTS-Raw sugar nears 1-month low; cocoa and coffee also fall

Speculators cut their net long position in ICE raw sugar in the week to Dec. 1 by 16,551 contracts to 176,330 contracts, data showed.

Published 07 Dec, 2020 07:53pm

Business & Finance

Ukraine to keep main interest rate at 6pc over inflation concerns

Ukraine received $2.1 billion from the IMF shortly after securing a new deal in June. But the programme has been derailed by concerns over Kyiv's performance on reforms.

Published 07 Dec, 2020 07:50pm

USA

Biden names health team to tackle spiraling Covid crisis

When Biden takes office on January 20, his health team will be immediately responsible for rolling out a historic immunization drive -- set to launch later this month in a bid to gain control of a pandemic that has killed 280,000 people in the country.

Published 07 Dec, 2020 07:49pm

Business & Finance

Saudi stocks lead gains; Egypt loses

Saudi Arabia's benchmark index gained 0.6pc, with lenders Riyad Bank and National Commercial Bank adding 1.6pc and 0.9pc, respectively.

Published 07 Dec, 2020 07:47pm

Europe

Macron rejects calls to get tough with Egypt's Sisi on rights

Macron hosted Sisi, whom he referred to as his "friend" for talks on the second day of the Egyptian's three-day state visit to France.

Published 07 Dec, 2020 07:46pm

Commodities

Copper retreats from 8-year peak on profit-taking

Earlier prices of the metal used widely in the power and construction industries touched $7,800 a tonne, the highest since March 2013.

Published 07 Dec, 2020 07:44pm

Companies

Pakistan's Organic Meat Company to Supply 1200 MT of Meat to Middle East

The Organic Meat Company Ltd. awarded an approximately US$ 3.9 Million contract to supply frozen boneless meat to the biggest food processor in the Middle East.

Updated 07 Dec, 2020 07:46pm

Europe

Swiss say Pfizer/Biontech will deliver 3 million doses of vaccine

With two doses likely to be necessary, the contract means one and half million people in the country could be vaccinated, the government added in a statement.

Published 07 Dec, 2020 07:33pm

Forex

C$ gives back some recent gains as U.S.-China tensions rise

Canada runs a current account deficit and is a major exporter of commodities, including oil, so the loonie tends to be sensitive to the global flow of trade and capital.

Published 07 Dec, 2020 07:29pm

Sports

Fans back, Atletico, AC Milan: European football talking points

AFP looks at five talking points from around the continent this weekend.

Published 07 Dec, 2020 07:26pm

Europe

Ukraine reports outbreak of highly pathogenic bird flu

Citing a report from Ukraine's agriculture and food ministry, the Paris-based OIE said the virus found was of serotype H5 but gave no further details.

Updated 07 Dec, 2020 07:29pm

Middle East

Alongside Sisi, Macron says France will sell arms to Egypt irrespective of rights

French President Emmanuel Macron said on Monday he would not condition the sale of weapons to Egypt on human rights because he did not want to weaken Cairo’s ability to counter terrorism in the region.
Both states - which share concerns about instability across the Sahel, threats from jihadist groups in Egypt and the political vacuum in Libya - have cultivated closer economic and military ties.

Published 07 Dec, 2020 07:22pm

Sports

England-South Africa ODI series called off after COVID-19 outbreak

The development came three days after the postponement of the opening ODI of the series, which was scheduled to take place at Newlands on Friday.
The three T20Is were played as scheduled.

Published 07 Dec, 2020 07:12pm

Pakistan

IHC dismisses petition against appointments of 15 special assistants to PM

The court had reserved the verdict on September 9, after concluding arguments from the respondents and petitioners.

Published 07 Dec, 2020 06:54pm

Pakistan

Number of steps taken to promote IT sector in Pakistan

IT & ITeS export remittances during FY 2018-19 increased by 19.3pc in comparison to $ 833.87 million during FY 2017-18, they said.

Published 07 Dec, 2020 06:51pm

Europe

UK's Johnson ready to pull out of Brexit talks, The Sun says

“Today he will tell the EU he is not for turning as he vows to stand firm against 11th-hour Brexit demands from France,” says British publication.

Published 07 Dec, 2020 06:43pm

Pakistan

Shops, restaurants, marriage halls sealed over SOPs violation

The DC Lahore said that 59 markets and shopping malls, 28 restaurants and hotels, and 19 marriage halls were sealed over SOPs violation.

Published 07 Dec, 2020 06:50pm

Pakistan

COVID-19 claims 41 more lives, infects 1,726 others: CM Sindh

In a statement issued here on Monday, the CM Sindh said that 41 patients lost their lives, lifting the death toll to 3,060 that constituted 1.7 percent death rate.

Published 07 Dec, 2020 06:48pm

Pakistan

Railway earns Rs12.267bn from freight business in two years

Giving detail of the earnings, he said the department had generated Rs. 18.853 billion against the expenditures of Rs. 12.950 billion, posting a profit of Rs. 5.903 billion during 2018-19.

Published 07 Dec, 2020 06:41pm

Pakistan

Sindh reports 41 deaths, 1,726 new coronavirus cases

This is the highest death toll since July, while death toll from the virus in the province has reached 3,060.
- The chief minister said that 12,442 samples were tested which diagnosed 1,726 cases that constituted 13.9 per cent current detection rate.

Updated 07 Dec, 2020 06:42pm

Pakistan

Over 3.807 million tons wheat available for domestic consumption

In Balochistan, he said that wheat stocks recorded at 23,177 tons, where as 69,296 tons of grains were also released to fulfill the requirements.

Published 07 Dec, 2020 06:40pm

Pakistan

Asim Bajwa calls on Minister

Asim Saleem Bajwa expressed gratitude for the cooperation of the minister towards the success of CPEC.

Published 07 Dec, 2020 06:34pm

Pakistan

Civil, military leaders sit together to mull over COVID-19 situation in Punjab

The meeting was attended by civil and military leadership including, Corps Commander Lahore Lieutenant General Majid Ehsan.
Officials expressed their concern over the non-implementation of the SOPs during the second wave of COVID-19 pandemic.

Updated 07 Dec, 2020 06:11pm

Pakistan

Pakistan keen to promote trade, cultural ties with Belarus: President

He expressed the hope that the Memorandum of Understanding (MoU) signed by the two countries on cooperation in the field of education would greatly help in strengthening cultural linkages.

Published 07 Dec, 2020 06:03pm

Pakistan

Gold price decreases Rs300 to Rs110,000 per tola

The price of per tola and ten gram silver remained stable at Rs. 1220 and Rs. 1045.95 respectively.

Published 07 Dec, 2020 06:00pm

Pakistan

IHC disposes of petition in missing person case

During the course of proceeding, the petitioner's lawyer Umer Gilani pleaded that his client just wanted the respondents to comply the court orders.

Published 07 Dec, 2020 05:58pm

Pakistan

SC directs PESCO to provide electricity meters to Afghan refugees

A PESCO representative present in the court said that the department had not received any such application on which electricity meters would be installed.

Published 07 Dec, 2020 05:56pm

Commodities

CBOT wheat may test support at $5.66-1/2

Based on the consolidation range from $5.73 to $5.89-3/4, wheat may drop to $5.55-3/4.

Published 07 Dec, 2020 05:49pm

Forex

Kenyan shilling stable, expected demand surge may trigger pressure

At 0720 GMT, commercial banks quoted the shilling at 111.15/111.35 per dollar, slightly weaker than Friday's close of 111.10/111.30.

Published 07 Dec, 2020 05:47pm

Commodities

Taiwan's MFIG tenders to buy up to 65,000 tonnes corn

Shipment is between Feb. 21 and March 12 if the corn is sourced from the U.S. Gulf, Brazil or Argentina, they said.

Published 07 Dec, 2020 05:46pm

Forex

Dollar near 2018 lows as traders eye more US stimulus; sterling sheds 1pc

An index which tracks the dollar against a basket of currencies was last trading up 0.1pc at 90.96, close to 90.47, its weakest since April 2018.

Published 07 Dec, 2020 05:41pm

Energy

China's Nov crude imports rise m/m as backlog cleared

Customs data also showed China exported 4.95 million tonnes of refined oil products in November, down 14.5pc from October.

Published 07 Dec, 2020 05:38pm

Managed Funds

European government bond yields drop as Brexit deal hopes take a hit

The yield on Germany's benchmark 10-year Bund dropped four bps to -0.58pc, a one-week low.

Published 07 Dec, 2020 05:36pm

Commodities

South Korea's NOFI buys about 69,000 tonnes corn in tender

The corn purchased was expected to be sourced from the U.S. Pacific Northwest coast, traders said.

Published 07 Dec, 2020 05:33pm

Pakistan

PDM leaders adamant to hold rally in Lahore despite govt's warning

Kaira says government is devising tactics to stop the opposition alliance from holding the rally in Lahore
Sanaullah says hundreds of thousands of workers will participate in the rally and this requires complete arrangement

Published 07 Dec, 2020 05:32pm

Real Estate

UK house prices rise by most since 2016, Halifax says

Halifax said it did not expect the recent pace of price increases to last as the economic outlook was likely to remain challenging, even with the roll-out of coronavirus vaccines.

Published 07 Dec, 2020 05:30pm

Business & Finance

LG shakes up loss-making phone business, to outsource lower-end models

LG had said in October last year it will expand ODM to its mid-range smartphones line-up from just low-end smartphones.

Published 07 Dec, 2020 05:27pm

Forex

Sterling falls as investors get jittery over Brexit

The sharp drop was a complete U-turn in market sentiment from Friday when sterling rose above $1.35 for the first time this year.

Published 07 Dec, 2020 05:25pm

Business & Finance

Swedish central bank ready to soften economic blow of second COVID wave

It has left the benchmark repo rate at zero percent since late 2019 - unchanged throughout the pandemic - arguing a cut would have limited effect.

Published 07 Dec, 2020 05:23pm

Energy

UK GAS-Prices fall on oversupply, milder forecasts

National Grid data forecast British gas system supply at 360.3 mcm/day and demand at 351.2 mcm/day.

Published 07 Dec, 2020 05:19pm

Stocks

European shares slip on U.S.-China worries; FTSE 100 rises

After adding about 14pc over the last five weeks, the pan-European STOXX 600 index fell 0.7pc with banks leading losses as euro zone bonds yields fell.

Published 07 Dec, 2020 05:18pm

Pakistan

PIA introduces voluntary separation scheme for 14 days

Employees under the age of 58 are eligible to avail the separation scheme.
The employees seeking departure under the scheme would be paid his or her dues on January 31, 2021.

Published 07 Dec, 2020 05:14pm

Stocks

Brexit and China tensions weigh on shares as pound gets hit

After surging to a fresh all-time high earlier on Monday, the MSCI world equity index, which tracks shares in 49 countries, turned lower to fall 0.3pc by 0919 GMT.

Published 07 Dec, 2020 05:13pm

Forex

Ugandan shilling stable on flat appetite for hard currency

At 0922GMT commercial banks quoted the shilling at 3,670/3,680, same level as Friday's close.

Published 07 Dec, 2020 05:11pm

World

Worldwide coronavirus cases cross 66.66 million, death toll at 1,533,752

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

Published 07 Dec, 2020 05:09pm

Commodities

Algeria believed to pass in tender for 25,000 tonnes barley

ONAB is believed to have bought about 35,000 tonnes of animal feed corn in a separate tender last week.

Published 07 Dec, 2020 05:07pm

Commodities

One Japanese buyer agrees to pay Q1 aluminium premium of $130/T, up 48pc from Q4

The figure is higher than the $88 per tonne paid in October to December and marks a second consecutive quarterly increase and the highest since the July-September quarter in 2018.

Published 07 Dec, 2020 05:05pm

Europe

Kremlin sees no need to impose broad lockdown

Infections have surged to record highs in recent weeks. Earlier on Monday authorities confirmed 28,142 new coronavirus cases in the last 24 hours, including 7,279 in Moscow.

Published 07 Dec, 2020 05:03pm

South Asia

India considering accelerated review of COVID-19 vaccine emergency use: govt official

Serum Institute is making AstraZeneca's COVID-19 vaccine in India and has applied for emergency use authorization.

Published 07 Dec, 2020 05:03pm

Business & Finance

Deutsche Bank hikes Asia profitability targets by half

Deutsche Bank, like most other banks, was forced to supply liquidity to corporate customers ailing from the pandemic, some of which eventually went bust.

Published 07 Dec, 2020 04:59pm

Forex

China Nov FX reserves climb to 4-year high as yuan firms

The rise in China's reserves was due to the dollar's fall against other major currencies, and rises in global stocks and bonds, the foreign exchange regulator said in a statement.

Published 07 Dec, 2020 04:56pm

Europe

EU weighs up sanctions against Turkey in east Med gas dispute

Tensions flared in August when Turkey - a NATO ally and candidate for EU membership - sent a survey vessel to map out energy drilling prospects in waters also claimed by Greece.

Published 07 Dec, 2020 04:54pm

Middle East

Iranian official close to Khamenei's office says leader is in good health

Some unconfirmed reports on Twitter suggested that Khamenei had transferred his duties to his son because of concerns over his health.

Published 07 Dec, 2020 04:51pm

Stocks

Indian shares end at record high on consumer goods boost

The NSE Nifty 50 index ended up 0.73pc at 13,355.75, while the benchmark S&P BSE Sensex advanced 0.77pc to 45,426.97.

Published 07 Dec, 2020 04:50pm

Europe

EU climate deal unlikely without breakthrough on budget, envoy says

"It will not be possible ... (it is) difficult to see that it's going to happen if there is no agreement on MFF," the senior diplomat said. If leaders resolve the budget spat, then there is a".

Published 07 Dec, 2020 04:48pm

Business & Finance

China suspends beef imports from sixth Australian beef supplier

Australia's ties with top trade partner China, already strained, significantly deteriorated after Canberra called for an enquiry into the origins of the coronavirus.

Published 07 Dec, 2020 04:45pm

Commodities

Gold slips on firmer dollar, vaccine rollout

Spot gold prices were 0.3pc lower at $1,832.30 per ounce by 1027 GMT, while U.S. gold futures were down 0.2pc at $1,836.10.

Published 07 Dec, 2020 04:42pm

Business & Finance

Russian central bank sells 800bn roubles at one-month repo auction

The bank had said it would offer up to 1.5 trillion roubles at the one-month auction.

Published 07 Dec, 2020 04:39pm

Asia

Iran says 'smart satellite-controlled machine gun' killed top nuclear scientist

Iran has blamed Israel for the assassination of top nuclear scientist Mohsen Fakhrizadeh.
Israel has neither confirmed nor denied responsibility for the killing, but in the past has acknowledged pursuing covert, intelligence-gathering operations against the nuclear programme of its arch-enemy Iran.

Updated 07 Dec, 2020 04:41pm

Pakistan

Govt forms special cabinet committee for procurement of COVID-19 vaccine

The committee’s decision regarding COVID vaccine will be final and it won’t require an endorsement from the federal cabinet
The committee will be headed by Federal Minister Asad Umar and will function as an oversight body for procurement

Published 07 Dec, 2020 04:24pm

Asia

South Korea to boost testing as coronavirus surge threatens 'medical collapse'

Moon said testing sites should operate longer hours to allow people working to get tested at their convenience and more drive-through testing facilities should be set up, Chung said.

Published 07 Dec, 2020 04:35pm

Commodities

Palm drops 1pc as CBOT soyoil weakens, tight supply forecast supports

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange ended down 42 ringgit, or 1.22pc, at 3,395 ringgit ($834.15) a tonne.

Published 07 Dec, 2020 04:33pm

Business & Finance

Pakistan assures China of power provision to SEZ’s under CPEC

The Chinese Ambassador said his country is keen to work with Pakistan in the field of energy including power projects under CPEC.

Published 07 Dec, 2020 04:29pm

Business & Finance

Japan government likely to decide new economic measures of 73 trillion yen on Tuesday

The economic measures will include those dealing with preventing the spread of the novel coronavirus as well as shifting towards building a post-pandemic economy, NHK added.

Published 07 Dec, 2020 04:30pm

Business & Finance

Huawei CFO back in Canada court in extradition case as U.S. negotiates resolving charges

U.S. prosecutors are discussing a deal with lawyers for Huawei's Meng to resolve criminal charges against her, a person familiar with the matter said on Thursday.

Published 07 Dec, 2020 04:28pm

USA

U.S. Congress closes in on COVID-19 aid bill as funding deadline looms

A range of emergency aid programs set in place in response to the pandemic, including additional unemployment benefits and a moratorium on renter evictions, expire at the end of December.

Published 07 Dec, 2020 04:24pm

Europe

French insurers to freeze premiums for hospitality industry: finmin

He said the freeze will relate to hotels, restaurants and bars, but also the tourism, sports, culture and events industries.

Published 07 Dec, 2020 04:22pm

Europe

Some 3,000 to 5,000 Hungarians could participate in clinical trials of Russian vaccine

Kasler said a Hungarian delegation of medical experts had received "detailed notification" about the Russian vaccine in Moscow.

Published 07 Dec, 2020 04:17pm

Business & Finance

Rolls-Royce kicks off disposal plan with nuclear instrument sale

Rolls-Royce said in a statement that it was selling the business, which has operations in France, Czech Republic and China and employs 550 staff, to French engineering company Framatome.

Published 07 Dec, 2020 04:13pm

Business & Finance

German industrial production jumps in October

Industrial production rose 3.2 percent month-on-month, federal statistics agency Destatis said, driven by a strong performance in Germany's key car industry.

Published 07 Dec, 2020 04:08pm

Pakistan

Nine govt school teachers test positive for COVID-19 in Peshawar

The samples of 44 teachers of the Government Higher Secondary School Tarnab were taken earlier, among them nine came coronavirus positive.
“The teachers being called to the school for on-line classes,” said teacher.

Published 07 Dec, 2020 04:01pm

South Asia

China calls for new talks with US after Biden win

Beijing and Washington have locked horns over issues from trade and China's human rights record to its expansionist ambitions in the South China Sea.

Published 07 Dec, 2020 04:05pm

Europe

Erdogan seeks 'win-win formula' in Greece gas row

NATO members Turkey and Greece have been at loggerheads over maritime territory in the eastern Mediterranean, believed to be rich in energy resources including natural gas.

Published 07 Dec, 2020 04:01pm

USA

Southern California goes into virus lockdown

California, the most populous US state, has seen more than 1.3 million cases and nearly 20,000 deaths. It recorded 30,075 new infections on Saturday.

Published 07 Dec, 2020 03:57pm

Europe

UK minister Gove heads to Brussels amid Brexit deadlock

The planned talks were confirmed by Sefcovic, who said he and Gove would discuss the Northern Ireland Protocol under Britain's EU divorce treaty.

Published 07 Dec, 2020 03:53pm

Middle East

European powers rebuke Iran after uranium enrichment announcement

France, Germany and Britain said on Monday that they were alarmed by an Iranian announcement that it intended to expand its nuclear programme.
The powers further stated that this move was also incompatible with the accord and Iran’s wider non-proliferation commitments.

Published 07 Dec, 2020 03:47pm

Europe

Decision time nears as Brexit talks enter endgame

Barnier and Frost will resume face-to-face talks later on Monday before reporting back to their respective bosses, EU chief Ursula von der Leyen and UK Prime Minister Boris Johnson.

Published 07 Dec, 2020 03:49pm

Europe

Iran centrifuge plan alarms European trio

Under the terms of Iran's 2015 deal it is only meant to enrich uranium with a less sophisticated variety of centrifuges.

Published 07 Dec, 2020 03:44pm

BR Research

Pak-Turk economic ties: Awaiting a breakthrough

The top diplomats of both Pakistan and Turkey describe the diplomatic relationship between Islamabad and Ankara as...

Published 07 Dec, 2020 03:43pm

Europe

Romania's pro-European party on course to stay in power

Romania is one of the EU's poorest countries, and four million of its citizens have left in recent years to seek better lives elsewhere, in particular in western EU member states.

Published 07 Dec, 2020 03:38pm

BR Research

The Wonky Economics of Retail Smuggling

Pakistan has the higher average effective tariff rate in the region. A protectionist approach often results in...

Published 07 Dec, 2020 03:39pm

Pakistan

Kamran Bangash calls for public cooperation to contain COVID-19

"No negligence on the part of hospital staff would be tolerated no matter how much senior the negligent official is", he added.

Published 07 Dec, 2020 03:35pm

Pakistan

Robust anti-drug policy to be evolved to save youth: PM

He stressed the need for raising awareness among masses, particularly youth, about the negative impacts of drugs in personal and social lives.

Published 07 Dec, 2020 03:29pm

Pakistan

Hafeez Shaikh lauds provinces for controlling prices, directs for action against hoarders

He also briefed that the prices of 13 essential items have registered a decline whereas the price of 21 items has remained stable.

Published 07 Dec, 2020 03:26pm

Pakistan

SC directs PESCO to provide electricity meters to Afghan refugees

Top court states that foreign citizens have the right to avail all facilities while residing in Pakistan in accordance with the law
SC directs foreign nationals to submit their applications to get the power connections

Published 07 Dec, 2020 03:20pm

Asia

Police in northern India arrest 10 men under new anti-conversion law

Uttar Pradesh state became the first Indian province to pass a law against forced or fraudulent religious conversions, laying out prison terms for anyone compelling others to convert their faith or luring them into these conversions through marriage.
- At least four other Indian states - Madhya Pradesh, Haryana, Karnataka and Assam have said that they are planning to bring in similar anti-conversion laws.

Published 07 Dec, 2020 03:23pm

Pakistan

Govt focuses on lowering power generation cost through RE resources: Omar Ayub

Omar Ayub also apprised the envoy about the initiatives taken by the government to curb the distribution and transmission losses in the power sector.

Published 07 Dec, 2020 03:24pm

Pakistan

Services trade deficits shrinks 38.18 percent in 4 months

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 07 Dec, 2020 03:22pm

Pakistan

Three more patients die of COVID-19 in Faisalabad

Deputy District Officer Health Dr. Asif Shehzad told APP on Monday, after the death of three patients, the number of death had reached 268 since March this year.

Published 07 Dec, 2020 03:20pm

Pakistan

Plastic exports decrease 22.21pc in 4 months

The exports of plastic from the country during October 2020 were recorded at $29.807 million against the exports of $26.956 million in October 2019.

Published 07 Dec, 2020 03:18pm

Pakistan

APCNGA seeks one-month extension in last date of filing tax returns

He said the CNG sector remained unable to file their tax returns due to some problems with the FBR’s online system of income tax calculation.

Published 07 Dec, 2020 03:13pm

World

New Zealand's Ardern vows accountability ahead of Christchurch attack report

Ardern met with the family members of victims and some survivors on Sunday and promised immediate action on the royal commission report, but said some recommendations may take time to implement.
- The findings of a royal commission inquiry into the mosque attack will be made public in parliament on Tuesday.

Published 07 Dec, 2020 02:50pm

Companies

PSM CEO seeks Labour Court Approval to Lay-off More Workers

The CEO of Pakistan Steel Mills (PSM) submitted a plea to the labour court in Karachi today, seeking permission to lay-off more employees.

Published 07 Dec, 2020 02:41pm

Pakistan

COVID-19 lockdowns devastated working class with distant recovery, survey finds

According to a survey, many households are recovering from the devastating economic impact of the COVID-19 pandemic, but a complete recovery is still distant.
The study also reveals that despite some economic recovery since May, the number of people slipping below the minimum wage threshold has increased.

Updated 07 Dec, 2020 02:34pm

Europe

Northern England ‘worst hit’ by both Spanish flu, COVID-19 pandemics: Study

The northern suffered more than 12 COVID-19 related deaths per 100,000 compared to the rest of England, study. *Spanish flu, which broke out in 1918, killed 50-100 million people globally.

Published 07 Dec, 2020 02:27pm

Forex

Turkey's lira slips as expectations grow for rate hike, sanctions

On Friday, the lira slipped after US lawmakers included mandatory Turkish sanctions in a defence spending bill that moves Washington a step closer to punishing its NATO ally for buying Russian S-400 missile defences.

Published 07 Dec, 2020 02:15pm

Business & Finance

Taiwan November exports up again, boosted by new phones

Last month, Taiwan's statistics agency raised its full-year export growth forecast to 3.84% compared with 2019, from a previous forecast of a 0.1% decline.

Published 07 Dec, 2020 02:12pm

Forex

China Nov FX reserves rose more than expected as yuan climbs

Foreign inflows into Chinese stocks and bonds have also been strong as China leads the global recovery from the COVID-19 pandemic.

Published 07 Dec, 2020 02:11pm

Stocks

Hong Kong shares finish with losses

The Hang Seng Index fell 1.23 percent, or 329.07 points, to 26,506.85.

Published 07 Dec, 2020 02:07pm

Stocks

London stocks rise at open as Brexit fallout slams pound

Major eurozone stock markets meanwhile retreated at the start, with Frankfurt's DAX 30 index down 0.3 percent to 13,263.83 points and the Paris CAC 40 losing 0.4 percent to 5,589.26.

Published 07 Dec, 2020 02:04pm

Companies

Kia recalls 295K vehicles due to fire risks in the US

Kia Motor announced that this recall will cover some model years for its Sorento, Forte, Forte Koup, Optima Hybrid, Soul and Sportage vehicles because of risk of engine compartment fires.

Updated 07 Dec, 2020 02:03pm

World

China says firmly opposes US interference in its domestic affairs

If the United States insists on going down the wrong path, China will continue to take firm counter measures to safeguard its sovereignty and security, Hua Chunying, a spokeswoman with the foreign ministry told a briefing.

Published 07 Dec, 2020 01:58pm

Pakistan

Pakistan's COVID-19 positivity rate soars to 9.71%; cases rise to highest since July 2

The country reported 3,795 new cases which is the highest number recorded since July 2, when the country reported 4,087 new infections.

Published 07 Dec, 2020 01:50pm

Pakistan

ATSE recognizes Pakistani scientist for her STEM research

Shazia developed solutions for Business Information Systems to more effectively process information, significantly improving business process management
Shazia says it is hard to imagine business without technology and getting the alignment right between the two

Updated 07 Dec, 2020 01:54pm

Business & Finance

PTBA urges FBR to extend return filing date till Jan 31st

In a letter to FBR Chairman, President PTBA Aftab Hussain Nagra said that the global situation created due to the coronavirus pandemic has made it impossible for taxpayers to timely file their tax returns.

Published 07 Dec, 2020 01:26pm

Pakistan

Faisal Mosque's main hall sealed over violations of SOPs

The Deputy Commissioner (DC) Islamabad Hamza Shafqaat said that the hall has been sealed because precautionary measures were not followed during the Friday prayers.

Updated 07 Dec, 2020 01:27pm

Business & Finance

JGBs flat to sightly firmer as equities fall

At the shorter end of the market, the two-year JGB yield fell half a basis point to minus 0.140%, while the five-year yield was unchanged at minus 0.110%.

Published 07 Dec, 2020 01:17pm

Pakistan

Collective efforts needed to eradicate menace of drugs from society: PM

Imran says drugs are a silent killer and it destroys entire families if only a single person is in the habit of taking them
Use of drugs in educational institutions is a worrying sign and all measures will be taken to end its spread, says PM

Updated 07 Dec, 2020 01:17pm

Stocks

China stocks end lower on Sino-US tensions China stocks end lower on Sino-US tensions

The blue-chip CSI300 index fell 0.9%, to 5,022.24, while the Shanghai Composite Index declined 0.8% to 3,416.60.

Published 07 Dec, 2020 01:15pm

Forex

Sterling volatility jumps as no-deal Brexit risks rise

Implied volatility gauges for sterling for overnight and one-week maturities jumped to over 17% and 14% respectively as traders braced for more currency market swings.

Published 07 Dec, 2020 01:13pm

World

Russia reports 28,142 new coronavirus cases, 456 deaths

Authorities said 456 people had died overnight, taking the official death toll to 43,597.

Published 07 Dec, 2020 01:12pm

Energy

Oil slips from multi-month high as virus surge prompt lockdowns

"Adding to the pressure on oil prices is the potential Iranian increase to production in three months. Iran is optimistic the US will ease restrictions if they return back to the 2015 nuclear deal," Moya added.

Published 07 Dec, 2020 01:10pm

World

Poland's Nov unemployment rate unchanged at 6.1%

Poland's unemployment rate in the new year could approach 7%, Polish Deputy Prime Minister Jaroslaw Gowin said last week.

Published 07 Dec, 2020 01:09pm

Commodities

Ivory Coast cocoa arrivals reached 729,662 T by Nov. 30

Cocoa arrivals at ports in top grower Ivory Coast reached 729,662 tonnes between Oct. 1 and Nov. 30.

Published 07 Dec, 2020 01:01pm

World

Indonesia receives over a million Chinese Covid-19 vaccine doses

China has promised to make its vaccines available as a "global public good" as it seeks to counter global criticism for its early handling of the pandemic.

Published 07 Dec, 2020 01:00pm

Pakistan

Balochistan govt has started development work on boarder markets

8 The government has initiated the development work on Pak-Iran boarder and the newly inaugurated gateway at Badini, Pak-Afghan boarder to create and promote economic activities in the province.

Published 07 Dec, 2020 12:55pm

World

Cambodian PM says no state of emergency to be declared despite spike in COVID-19 cases

"I would like to appeal to the people to keep calm, not to panic, and to work with the government to fight against the COVID-19 based on the guidelines set out by the Ministry of Health."

Published 07 Dec, 2020 12:54pm

World

Hong Kong police make national security arrests over campus protest

Masked students waved banners and chanted pro-democracy slogans, including "Liberate Hong Kong, Revolution of our times" and "Hong Kong independence, the only way out".

Published 07 Dec, 2020 12:49pm

Business & Finance

South Africa's net foreign reserves down to $51.257bn in November

Gross reserves rose to $53.760 billion in November from $53.658 billion the prior month.

Published 07 Dec, 2020 12:45pm

Commodities

Gold edges higher as US stimulus bets outweigh vaccine hopes

However, gold's gains were capped as Britain prepared to become the first country to roll out the Pfizer/BioNTech COVID-19 vaccine this week.

Published 07 Dec, 2020 12:43pm

Stocks

Nikkei eases off 29-1/2-year high on profit-taking

8 Among the Topix 30 underperformers, Shin-Etsu Chemical Co Ltd fell 2.62% and Nidec Corp lost 2.22%.

Published 07 Dec, 2020 12:41pm

Sports

India can bank on match-winner Pandya for next five years: Kohli

India needed 25 runs off the last two overs and Pandya delivered in style, smashing two sixes in the final over to secure a six-wicket victory with two balls to spare.

Published 07 Dec, 2020 12:39pm

Commodities

South Korea's NOFI tenders to buy up to 69,000 tonnes corn

NOFI sought yellow corn equivalent to US number 3 grade or better in one consignment of between 45,000 to 69,000 tonnes with the seller free to decide the volume to be offered inside this range.

Published 07 Dec, 2020 12:37pm

Business & Finance

Swisscom, SIX Swiss Exchange team up on digital asset gateway

SIX will take a stake in Custodigit, which was founded in 2018 by Swisscom and Sygnum to develop an institutional-grade custody solution.

Published 07 Dec, 2020 12:34pm

Business & Finance

Commonwealth Bank of Australia makes Brexit move to Amsterdam

Since Britain voted to leave the EU in 2016, a range of businesses in finance, information technology, media, and health have moved their head office from London to Amsterdam.

Published 07 Dec, 2020 12:32pm

EU's Barnier says no UK deal yet: diplomatic source

Updating the EU envoys from 0630 GMT, Barnier said the three most contentious issues in the negotiations have not yet been resolved, according to the diplomat, who was taking part in the closed-door briefing.

Published 07 Dec, 2020 12:30pm

Forex

South Africa's rand steady as investors await data

Statistics South Africa will publish third-quarter gross domestic product (GDP) figures on Tuesday, while consumer price inflation (CPI) and retail sales data is due on Wednesday.

Published 07 Dec, 2020 12:28pm

Business & Finance

DP World chairman sees at least $5bn of UAE-Israel trade

"We estimate at least $5 billion of trade will happen between our countries in the beginning and this will grow," DP World chairman Sultan Ahmed bin Sulayem said.

Published 07 Dec, 2020 12:26pm

World

In Kenya, COVID-19's rural spread strains creaky healthcare

That has led to six COVID-19 deaths in a camp clinic due to lack of equipment like a ventilator, a doctor there told Reuters. A 40-year-old South Sudanese woman was the latest.

Published 07 Dec, 2020 12:23pm

Business & Finance

German industrial output jumps in October

Industrial output was up by 3.2% on the month after an upwardly revised increase of 2.3% in the previous month, figures released by the Federal Statistics Office showed.

Published 07 Dec, 2020 12:20pm

China

U.S. preparing new sanctions on Chinese officials over Hong Kong crackdown, according to sources

The United States is preparing to impose sanctions on at least a dozen Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong.
Beijing has previously condemned U.S. sanctions related to Hong Kong, calling it interference in China’s internal affairs.

Published 07 Dec, 2020 12:16pm

Europe

Irish Foreign minister say EU-UK deal likely but talks could fall apart

"If we don't get a deal in the next few days, then obviously there are serious problems around ratification and timelines."

Published 07 Dec, 2020 12:18pm

World

Africa's eternal hope: Ghana since independence

Ghana became the first sub-Saharan African country to end colonisation, becoming a model for many in the post-colonial world.

Published 07 Dec, 2020 12:13pm

Pakistan

Interior Minister Ijaz Shah gets first dose of COVID-19 trial vaccine

UHS Vice-Chancellor Prof Javed Akram says the minister’s staff members were also administered the trial vaccine
China had supplied the medication, developed by Chinese biotech CanSinoBio in partnership with the Beijing Institute of Biotechnology, to Islamabad as part of a trial agreement

Published 07 Dec, 2020 12:14pm

Sports

Warner stand-ins fail with bat against India in warm-up

Pucovski has been prolific domestically, snaring back-to-back double centuries for Victoria but is unproven at Test level.

Published 07 Dec, 2020 12:09pm

Stocks

Tokyo stocks close lower on profit-taking

The benchmark Nikkei 225 index fell 0.76 percent, or 203.80 points, to 26,547.44.

Published 07 Dec, 2020 12:08pm

Business & Finance

Societe Generale says to shut 600 branches in France

Sebastien Proto, deputy general manager of the group, told AFP there would be no forced redundancies with the group relying on retirements and "natural departures".

Published 07 Dec, 2020 12:06pm

World

Last month the hottest November on record: EU

With just over 1C of warming so far, Earth is already dealing with the devastation caused by more frequent and stronger extreme weather events such as wildfires and tropical storms.

Published 07 Dec, 2020 12:01pm

Commodities

China's November iron ore imports fall 8.1% m/m on falling shipments

Imports of steel products, meanwhile, further eased to 1.85 million tonnes in November from 1.93 million tonnes a month earlier.

Published 07 Dec, 2020 11:59am

Business & Finance

COVID-19 set to push over 32mn of the world’s poorest people into extreme poverty: UN

The extreme poverty level in LDCs is projected to expand by 32 million in 2020, to reach 377 million people.

Published 07 Dec, 2020 11:52am

Commodities

China's Nov soy imports soar to 9.59mn T on rising US trade truce cargoes

Crushers also ramped up on imports of Brazilian beans earlier in the year amid steadily recovering pig herds.

Published 07 Dec, 2020 11:56am

Sports

Bradman's 'baggy green' cap from 1928 debut to be auctioned

AAP reported that Dunham, an accountant, was jailed for eight years and two months in May for scamming $1.3 million from investors, with some of his victims seeking access to the cap to help pay off his debts.

Published 07 Dec, 2020 11:53am

Pakistan

Police register FIR against 150 PDM workers

The PDM leaders nominated in the FIR included PML-N divisional president Dr Ziaur Rehman, Ameer of JUI Rawalpindi, PML-N metropolitan head Malik Ibrar and former mayor of Rawalpindi Sardar Nassem and others.

Published 07 Dec, 2020 11:53am

Energy

China's Nov crude imports rise m/m as backlog cleared

The commerce ministry has raised 2021 crude import quotas by 20% to 243 million tonnes for non-state refiners.

Published 07 Dec, 2020 11:51am

Forex

Dollar mired near 2 1/2-year low, sterling eyes last-ditch Brexit talks

Sterling traded little changed at $1.3422, stepping back from 2 1/2-year high of $1.3540 touched on Friday as investors looked to talks between Britain and the EU this week to avert a chaotic parting of ways at the end of the year.

Published 07 Dec, 2020 11:49am

World

India reports nearly 33,000 new coronavirus cases

Cumulative cases now total 9.68 million, the second-highest tally in the world after the United States.

Published 07 Dec, 2020 11:47am

World

As Sisi heads to France, Macron faces Egyptian human rights quandary

French parliamentary recommendations to the government in November aimed at toughening controls on weapons sales overseas - a particularly opaque system in France - highlighted the deals with Egypt.

Published 07 Dec, 2020 11:43am

Commodities

China Nov copper imports fall to 6-month low as arbitrage window slams shut

Concentrate supply remains tight as miners and smelters negotiate treatment and refining charges for 2021.

Published 07 Dec, 2020 11:41am

Middle East

Saudi, Israeli officials share fiery attacks at regional conference

During a regional conference on Sunday, an influential Saudi prince launched a bitter attack on Israel, and reiterated his strong support for the Palestinian cause.
Mutual concerns over Iran gradually brought Israel and Gulf nations closer, as Riyadh had been quietly building relations with the Jewish state since several years.

Updated 07 Dec, 2020 11:42am

Life & Style

Sean Connery's 007 pistol from Dr.No sells for $256,000

The winning bidder is an American who has seen every James Bond movie with their children.

Published 07 Dec, 2020 11:36am

Business & Finance

Japan's coincident index rises 4.9 points in October

The index of leading economic indicators, which is a gauge of the economy a few months ahead and is compiled using data such as job offers and consumer sentiment, increased 0.5 point to 93.8.

Published 07 Dec, 2020 11:39am

Business & Finance

Bayer signs deal to manufacture, sell Atara's experimental cancer therapy

The US drugmaker will also be eligible to receive up to $610 million upon achievement of certain milestones, as well as tiered royalties up to low double-digit percentage of net sales.

Published 07 Dec, 2020 11:37am

Commodities

Wheat falls to lowest since early October on supply pressure

China's soybean imports in November jumped from the previous year, customs data showed, as cargoes booked from the United States following the Phase 1 trade deal cleared customs.

Published 07 Dec, 2020 11:35am

Business & Finance

JPMorgan hires UBS's Huang for Asia ECM role

The sources could not be named because the information has not yet been made public. JPMorgan and UBS declined to comment.

Published 07 Dec, 2020 11:34am

Forex

China's yuan pulls back from 2-1/2-year highs on Sino-US tensions

Spot yuan opened at 6.5330 per dollar and softened to 6.5344 by midday, 44 pips weaker than Friday's late session close.

Published 07 Dec, 2020 11:32am

Stocks

Asian shares ease from record high; oil falls on virus case surge

In commodities, oil prices slipped from their highest levels since March as a continued surge in coronavirus cases globally forced a series of renewed lockdowns, including strict new measures in Southern California.

Published 07 Dec, 2020 11:28am

Commodities

CBOT corn may revisit Dec. 2 low of $4.14-1/2

8 A retracement analysis on the rise from $3.96 to $4.39-1/2 reveals a target of $4.12-1/2, the 61.8% level, which is close to $4.12.

Published 07 Dec, 2020 11:25am

Stocks

Indonesian shares near 10-month high on vaccine hopes, ringgit slips

Meanwhile, emerging Asian currencies were a shade higher against a flat dollar, with only the Taiwanese dollar a stand out at 0.9% stronger.

Published 07 Dec, 2020 11:22am

Pakistan

Violation of SOPs: 19 wedding halls, 59 markets sealed in Lahore

District administration also sealed 28 restaurants and cafes while fines were also imposed on shops that remained opened after 10pm deadline
DC says there’s a zero tolerance policy against residents violating guidelines given by the government

Published 07 Dec, 2020 11:00am

Business & Finance

Pakistan’s exports regaining momentum after impressive growth in Nov, says Dawood

The exports during July-November (2020-21) were recorded at $9.737 billion against the exports of $9.536 billion in July-November (2019-20), showing growth of 2.11 percent according to PBS data.

Published 07 Dec, 2020 11:15am

Business & Finance

Kuwait's Burgan Bank plans Tier 2 dollar bonds

Tier 2 bonds are a form of subordinated debt, ranking ahead of equity but below senior bonds.

Published 07 Dec, 2020 11:11am

Life & Style

Netflix declines to flag up to viewers that The Crown is fiction

The show's most recent season has attracted criticism for suggesting that the late Princess Diana was treated coldly, even cruelly, by senior royals.

Updated 07 Dec, 2020 11:14am

Stocks

Indian shares hit record highs as ICICI Bank climbs; HDFC Bank weighs

HDFC Bank Ltd dropped 1.8% to its lowest since mid-November and was the biggest drag on the indexes.

Published 07 Dec, 2020 11:08am

Stocks

Australia shares scale nine-month high as miners rally further

Among individual stocks, retailer Metcash Ltd led gains on the benchmark after posting a jump in first-half underlying profit after tax.

Published 07 Dec, 2020 11:07am

World

Pompeo brands Venezuela vote a 'fraud'

Victory would give Maduro's ruling Socialist Party control of an expanded 227-seat National Assembly -- the only institution not in its hands.

Published 07 Dec, 2020 11:02am

Sports

Klopp gets 'goosebumps' as Liverpool put on a show for returning fans

Liverpool put the result beyond doubt in the 67th minute when Salah's inswinging cross was met by Matip, who headed in from close range.

Published 07 Dec, 2020 11:00am

Pakistan

Patients' deaths: Seven Khyber Teaching Hospital officials suspended over negligence

Initial inquiry revealed that the hospital's oxygen storage tank was not filled to capacity and there was no backup system for oxygen supply
Report states the technical team failed to train the oxygen plant staff to monitor and maintain the service history and look after the biomechanics

Published 07 Dec, 2020 10:58am

Business & Finance

Covid, budget, defence: US Congress braces for tough week

At the same time, Congress members hope to pass the Pentagon's defence budget (NDAA) quickly. Democrats and Republicans have reached a consensus on a bill for $740 billion.

Published 07 Dec, 2020 10:55am

Sports

Norway's Hovland wins Mayakoba Classic with closing birdie

Wise won his only PGA Tour title at the 2018 Byron Nelson tournament while Long's only top-level win was at the 2019 Desert Classic.

Published 07 Dec, 2020 10:53am

Stocks

Tokyo shares open higher

The dollar stood at 104.11 yen, near flat from 104.19 yen on Friday in New York.

Published 07 Dec, 2020 10:50am

Sports

Messi, Ronaldo set to renew stellar rivalry in Champions League

Carles Tusquets, president of the managing board in charge before club elections in January, said he would have sold Messi in the summer, economically speaking.

Published 07 Dec, 2020 10:46am

Stocks

Hong Kong shares open slightly higher

The Hang Seng Index rose 0.13 percent, or 34.66 points, to 26,870.58.

Published 07 Dec, 2020 10:44am

World

US Supreme Court hears case on art trove bought by Nazi Germany

Lawyers for the plaintiffs counter that "Germany seeks nothing less than sovereign immunity for property taken as part of the Holocaust -- not for this case, but for every case. The Holocaust was not a domestic matter."

Published 07 Dec, 2020 10:40am

Business & Finance

Pakistan Customs seize smuggled luxury vehicles worth Rs 120mn

24 smuggled luxury vehicles were seized from Quetta Chaman Highway Prowaza Showroom.

Published 07 Dec, 2020 10:39am

World

Toll rises to 23 in southern China mining accident

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

Published 07 Dec, 2020 10:39am

Pakistan

Dr Faisal Sultan says coronavirus vaccine likely to be available in February

The SAPM said that the COVID-19 vaccine will be administered to people in phases, and will be administered to health professionals first.

Updated 07 Dec, 2020 10:38am

UAE target of cyber attacks after Israel deal, official says

The UAE in August broke with decades of Arab policy when it agreed to forge ties with Israel in a move that angered Palestinians and some Muslim states and communities. Bahrain and Sudan have followed suit.

Published 07 Dec, 2020 10:36am

World

'Keep up the fight', urges Tunisian street vendor's sister

With rising prices, stagnant incomes and few opportunities even for the highly educated, "the situation might even be worse now" than before the revolution, said Leila.

Published 07 Dec, 2020 10:29am

Arab uprisings breathe life into independence-era flags

But Aisha Musa, a member of the country's ruling sovereign council, supports a return to the independence flag.

Published 07 Dec, 2020 10:23am

Stocks

Hong Kong shares well down at break

The Hang Seng Index fell 1.69 percent, or 453.86 points, to 26,382.06.

Published 07 Dec, 2020 10:22am

Africa

Ghana set for close presidential race as old rivals face off

But the skilled communicator has brushed aside the criticism, making ambitious promises to build infrastructure, create jobs and modernise the country.

Published 07 Dec, 2020 10:20am

Hay beds and highway kitchens: Indian farmers dig in for reform protests

"My son encouraged me to join the protests. This is a do-or-die situation for us. I am here for my future generations," said Singh, who owes five acres (two hectares) of farmland.

Published 07 Dec, 2020 10:15am

BR Research

Oil price – are the bulls returning?

Oil prices heave been rising for fifth week in a row until OPEC+ sealed a deal last week that compromised on the...

Updated 07 Dec, 2020 10:17am

Business & Finance

Australia's Westpac to sell Pacific businesses for $312 million

Westpac expects the sale to Papua New Guinea-based Kina Securities Ltd to boost its core capital by 3 basis points, but is writing in an expected loss of A$230 million from the deal.

Published 07 Dec, 2020 10:11am

World

Melbourne welcomes first international flight in 5 months as COVID curbs ease

Australia has since March closed its borders to non-citizens, but airports serving Melbourne, Victoria's capital, stopped accepting any arrivals in late June after an outbreak of COVID-19 that begun at two hotels where arrivals were quarantining.

Published 07 Dec, 2020 10:07am

EU to consider making good on sanctions threat against Turkey

There are limits even to German patience," said a EU diplomat familiar with the preparations for the summit.

Published 07 Dec, 2020 10:05am

Forex

Dollar index near 2 1/2-year low, euro stays above $1.21

Earlier it fell to as low as $1.3360 after weekend talks stalled on three thorny issues.

Published 07 Dec, 2020 10:02am

World

China reports 15 new COVID-19 cases vs 18 a day earlier

The number of new asymptomatic cases, which China does not classify as confirmed cases, rose to six from two cases a day earlier.

Published 07 Dec, 2020 10:01am

Europe

Thousands protest in London against India's farming reforms

Thousands of people protested and blocked traffic in central London on Sunday over Indian agricultural reforms that have triggered mass demonstrations in India, and police made 13 arrests over breaches of COVID regulations.

Published 07 Dec, 2020 10:01am

Biden to pick Xavier Becerra for health secretary, key role in battling pandemic: sources

Biden has asked Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and a member of President Donald Trump's coronavirus task force, to stay on as chief medical adviser.

Published 07 Dec, 2020 09:59am

Sinovac secures $515mn funding to boost COVID-19 vaccine production

Depending on market conditions and the availability of financing, it may seek to further expand its production capacity, Sinovac said.

Published 07 Dec, 2020 09:55am

Sports

NZ coach happy for Williamson to miss matches with baby

The coach added he had little to complain about from the demolition of West Indies at Seddon Park, which had also given them some options going forward.

Published 07 Dec, 2020 09:52am

Stocks

Australian shares hit over 9-month high as miners scale multi-year peaks; NZ up

Shares of Fortescue Metals Group hit a record high, while BHP Group and Rio Tinto touched their highest since April 2011 and May 2008, respectively.

Published 07 Dec, 2020 09:50am

Sports

Australia may rope test stars into India tour match: Langer

Matthew Wade led the side in Finch's absence on Sunday, with former captain Steve Smith again overlooked for a leadership role.

Published 07 Dec, 2020 09:48am

World

South Korea reports 615 new coronavirus cases as third wave grows

South Korea avoided lockdowns but used an intensive system of tracing, testing and quarantining to tamp down two earlier waves of infection.

Published 07 Dec, 2020 09:47am

Business & Finance

Australia ANZ job ads climb as Victoria state reopens

"ANZ Job Ads are on track to match or even exceed pre-COVID levels by year-end," ANZ said in a statement.

Published 07 Dec, 2020 09:44am

Energy

OPEC+ to boost output as oil market tightens

In the three months between August and October, the latest for which data is available, UAE production was down by an average of almost 20% compared with the same period a year earlier.

Published 07 Dec, 2020 09:42am

Middle East

Iran prepares to raise oil exports if sanctions eased: state media

U.S. President-elect Joe Biden, who will take office on Jan. 20, has said that he would return to the pact and would lift sanctions if Tehran returned to “strict compliance with the nuclear deal”

Published 07 Dec, 2020 09:38am

World

Mexico registers 7,455 new coronavirus cases, 261 more deaths

The government says the real number of infected people is likely significantly higher than the confirmed cases.

Published 07 Dec, 2020 09:40am

US preparing new sanctions on Chinese officials over Hong Kong crackdown

Beijing has previously condemned US sanctions related to Hong Kong, calling it interference in China's internal affairs.

Published 07 Dec, 2020 09:37am

Energy

Brent oil may test support at $48.72

The second wave labelled b may end below $49.50, to be reversed by a downward wave c.

Published 07 Dec, 2020 09:35am

Energy

Oil prices fall as surging virus cases force more lockdowns

Iran, meanwhile, has instructed its oil ministry to prepare installations for production and sale of crude oil at full capacity within three months, state media said on Sunday.

Published 07 Dec, 2020 09:33am

World

Giuliani tests positive for COVID-19, latest in Trump's inner circle

Giuliani, who developed an international profile as "America's Mayor" for his leadership after the Sept. 11, 2001, attacks, has faced mounting legal troubles during the Trump administration.

Published 07 Dec, 2020 09:29am

Europe

Irish PM says Brexit talks on a knife edge, chances of deal 50-50

Irish Prime Minister Micheal Martin said on Sunday that chances of reaching a Brexit trade deal were 50-50 and that talks were at a very difficult juncture.

Published 07 Dec, 2020 09:31am

Commodities

Palm oil may rise into 3,474-3,504 ringgit range

Immediate support is at 3,426 ringgit, a break below which could cause a fall into 3,348-3,381 ringgit range.

Published 07 Dec, 2020 09:28am

Commodities

China scores coal own goal as domestic, import prices surge

In fact, for the first 11 months of the year, China's imports from Indonesia were down 24%, while those from Australia were 11% lower.

Published 07 Dec, 2020 09:24am

Energy

US oil may drop to $45.41

The third wave labeled c is unfolding towards $45.41. Immediate resistance is at $46.18, a break above which may lead to a gain to $46.66.

Published 07 Dec, 2020 09:21am

World

Georgia Republican Senator Loeffler dodges questions on Trump during debate with challenger Warnock

Perdue's campaign has said he does not manage his stock portfolio day to day.

Published 07 Dec, 2020 09:16am

World

Biden seen nominating infectious diseases expert Walensky to run CDC

US President-elect Joe Biden is expected to nominate Rochelle Walensky, chief of infectious diseases at Massachusetts General Hospital.

Published 07 Dec, 2020 09:15am

Stocks

Asian shares slip from all-time highs; oil falls on virus case surge

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3% following four straight sessions of gains.

Published 07 Dec, 2020 09:11am

World

South Korea's Moon orders coronavirus testing to be expanded amid third wave

Moon said testing sites should operate longer hours to allow people working.

Published 07 Dec, 2020 09:09am

Business & Finance

BoE's Haldane says consumer spending has come back at a 'real pace'

"People are using their involuntarily-accumulated savings on a new house or a new car... there are plenty of those savings still to be used."

Published 07 Dec, 2020 09:07am

Business & Finance

Chip shortages could slow automotive production, VW and suppliers say

China is expected to sell more than 22 million vehicles in the first 11 months of 2020, down just 3% from the same period a year earlier.

Published 07 Dec, 2020 09:04am

Commodities

Spot gold may drop into $1,796-$1,816 range

On the daily chart, a projection analysis reveals a similar resistance at $1,853, the 50% level of a downward wave C from $1,965.33.

Published 07 Dec, 2020 09:01am

Biden makes picks for key public health roles as pandemic rages

Biden has asked Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and a member of President Donald Trump's coronavirus task force, to stay on as chief medical adviser.

Published 07 Dec, 2020 08:58am

Sports

Pakistan cleared to leave isolation after negative COVID tests

The team had their exemption to train revoked last week after eight members of the 53-strong squad tested positive during their stay in isolation.

Published 07 Dec, 2020 08:55am

Forex

Indonesia's forex reserves drop to $133.6bn at end-November

The November reserve level would cover the cost of 9.9 months of imports, Bank Indonesia (BI) said in a statement.

Published 07 Dec, 2020 08:51am

Business & Finance

China Nov exports rise 21.1% y/y, imports up 4.5% y/y

Analysts polled by Reuters had forecast export growth of 12.0% in November from a year earlier, and import growth of 6.1%.

Published 07 Dec, 2020 08:50am

Energy

Malaysia's Petronas agrees to grant larger revenue share to Sarawak state

Under the agreement, Sarawak state will also be given more active involvement in the state's oil and gas industry.

Published 07 Dec, 2020 08:48am

Commodities

Palm gains on lower supply forecast; weaker soyoil weighs

The contract rose 3% last week and is trading $8 above soyoil prices on the Chicago Board of Trade, which were down 1%.

Published 07 Dec, 2020 08:46am

Stocks

Nikkei pulls back after hitting 29-1/2-year high

The Nikkei index fell 0.4% to 26,645.23 by the midday break, after hitting its highest level since April 1991 of at the open. The broader Topix lost 0.47% to 1,767.55.

Published 07 Dec, 2020 08:45am

Stocks

Australian shares set to rise on strong iron ore prices; NZ up

Dalian iron ore hit a record high on Friday, boosted by robust demand in China and supply concerns fuelled by disappointing forecasts by Brazilian miner Vale SA.

Published 07 Dec, 2020 08:41am

World

Brazil's coronavirus cases top 6.6 million, health ministry says

The South American country has now registered 6,603,540 cases since the pandemic began.

Published 07 Dec, 2020 08:39am

Business & Finance

Goldman mulls Florida base for asset management arm: Bloomberg News

The bank may yet decide not to center its asset management business in Florida and may opt for a different destination like Dallas, where it has been accelerating its expansion, Bloomberg added.

Published 07 Dec, 2020 08:37am

Sports

Salah puts on a show as Liverpool wallop Wolves 4-0

A Nelson Semedo own goal rounded off the rout in front of 2000 delighted Liverpool fans.

Published 07 Dec, 2020 08:35am

Currency	Rate
USD PKR Interbank Selling / Jun 24	278.40
USD PKR Interbank Buying / Jun 24	278.20
USD to Japanese Yen / Jun 26	161.74
USD to Swiss Franc / Jun 26	0.81
Pound Sterling to USD / Jun 26	1.32
Euro to USD / Jun 26	1.14
SOFR % / Jun 26	3.61

Stock	Volume
India Sensex / Jun 25	77,100.47
S&P 500 / Jun 26	7,354.02
Tokyo Nikkei / Jun 26	69,360.88
Nasdaq / Jun 26	25,297.62
Hang Seng / Jun 26	22,671.86
FTSE 100 / Jun 26	10,508.02
Dow Jones / Jun 26	51,876.11
Germany DAX 30 / Jun 26	24,671.22
France CAC40 / Jun 26	8,384.87

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 24	18,280
Gold 10 Grams PKR / Jun 24	368,985
Crude Oil USD/Barrel / Jun 26	69.23
Gold Spot USD/Ounce / Jun 26	4,088.74
Cotton US¢/pound / Jun 26	76.38
Petrol/Litre / Jun 27	299.50
Diesel/Litre / Jun 27	311.47

Stock	Price
Ghani Chemworld Limited (R) / Jun 24 Ghani Chemworld Limited Right(GCWLR)	8.01 ▲ 1 (14.27%)
Gulistan Sp. / Jun 24 Gulistan Spinning Mills Limited(GUSM)	10.01 ▲ 0.94 (10.36%)
Ali Asghar / Jun 24 Ali Asghar Textile Mills Limited(AATM)	57.61 ▲ 5.24 (10.01%)
Al-Shaheer Corp / Jun 24 Al Shaheer Corporation Limited(ASC)	12.20 ▲ 1.11 (10.01%)
Feroze 1888 / Jun 24 Feroze1888 Mills Limited(FML)	57.48 ▲ 5.23 (10.01%)
J.A.Textile / Jun 24 J.A. Textile Mills Limited(JATM)	33.52 ▲ 3.05 (10.01%)
Sardar Chemical / Jun 24 Sardar Chemical Industries Limited(SARC)	77.07 ▲ 7.01 (10.01%)
Buxly Paints / Jun 24 Buxly Paints Limited(BUXL)	251.72 ▲ 22.88 (10%)
Chashma / Jun 24 Chashma Sugar Mills Limited(CHAS)	101.19 ▲ 9.2 (10%)
Fateh Sports / Jun 24 Fateh Sports Wear Limited(FSWL)	111.29 ▲ 10.12 (10%)

Stock	Price
First Fid. Leasing / Jun 24 First Fidelity Leasing Modaraba(FFLM)	22.28 ▼ -2.47 (-9.98%)
Int. Knit. / Jun 24 International Knitwear Limited(INKL)	100.26 ▼ -11.12 (-9.98%)
Aruj Industries / Jun 24 Aruj Industries Limited(ARUJ)	10.80 ▼ -1.14 (-9.55%)
NIT PakistanXD / Jun 24 NIT Pakistan Gateway ETF(NITGETF)	37.25 ▼ -3.75 (-9.15%)
Aisha Steel(ConPS) / Jun 24 Aisha Steel(ConPS)(ASLPS)	23.52 ▼ -2.32 (-8.98%)
Pakgen Power / Jun 24 Pakgen Power Limited(PKGP)	43.13 ▼ -3.72 (-7.94%)
First AL-Noor Mod. / Jun 24 First Al-Noor Modaraba(FANM)	7.06 ▼ -0.51 (-6.74%)
Zuma Resources / Jun 24 Zuma Resources Limited(ZUMA)	104.71 ▼ -7.26 (-6.48%)
Popular Islamic / Jun 24 Popular Islamic Modaraba(PIM)	22.28 ▼ -1.26 (-5.35%)
TPL Insurance / Jun 24 TPL Insurance Limited(TPLI)	25.60 ▼ -1.44 (-5.33%)

Stock	Volume
K-Electric Ltd. / Jun 24 K-Electric Limited(KEL)	112,892,122 ▲ 0.33
Pak Int.Bulk / Jun 24 Pakistan International Bulk Terminal(PIBTL)	73,295,107 ▲ 0.94
WorldCall Telecom / Jun 24 Worldcall Telecom Limited(WTL)	38,761,163 ▲ 0.01
Pak Elektron / Jun 24 Pak Elektron Limited(PAEL)	31,348,609 ▲ 1.02
Maple Leaf Cement / Jun 24 Maple Leaf Cement Factory Limited(MLCF)	27,194,838 ▲ 3.85
PIA Holding Co.Ltd / Jun 24 PIA Holding Company Limited(PIAHCLA)	21,872,379 ▲ 1.92
Kohinoor Spinning / Jun 24 Kohinoor Spinning Mills Limited(KOSM)	20,610,130 ▲ 0.11
Sui South Gas / Jun 24 Sui Southern Gas Company Limited(SSGC)	20,069,542 ▼ -0.9
The Organic Meat / Jun 24 The Organic Meat Company Limited(TOMCL)	20,043,142 ▲ 2.92
B.O.Punjab / Jun 24 The Bank of Punjab(BOP)	18,657,800 ▲ 0.26