News Archives for Latest - 2020-12-23

Pakistan

80 more patients tested positive for COVID-19 in Hyderabad

Out of 944 active COVID-19 patients, 34 were admitted in LU hospitals Hyderabad and Jasmhoro, while 910 were isolated at their homes, officials said.

Updated 24 Dec, 2020 12:02am

Pakistan

COVID-19: Over 12,000 health workers infected, 110 dead in Pakistan

Sindh has the highest number of COVID-19 infection among the workers.
61% of the infected medics have been doctors.

Updated 23 Dec, 2020 09:01pm

USA

US weekly jobless claims fall; consumer spending declines in November

Though jobless claims have dropped from a record 6.867 million in March, they remain above their 665,000 peak during the 2007-09 Great Recession.
The United States is being battered by a new wave of coronavirus cases, with more than 18 million people infected and nearly 320,000 dead.

Published 23 Dec, 2020 08:44pm

Stocks

Dubai leads most Gulf markets higher; Qatar dips

Dubai to begin inoculations with Pfizer-BioNTech vaccine.
Qatar falls for a third straight session.
Abu Dhabi's Aldar sells 2 district cooling units to Tabreed.

Published 23 Dec, 2020 08:39pm

USA

Canada GDP rose 0.4pc in October on finance and insurance

Canada's real GDP rose 0.4% in October, beating analyst estimates of a 0.3% gain. Statscan said its preliminary estimate for November was also a gain of 0.4%.
The Canadian dollar was trading 0.2% higher at 1.2879 to the greenback, or 77.65 US cents, after the data.

Published 23 Dec, 2020 08:37pm

Commodities

Raw sugar rises in subdued trade as dollar dips despite Trump threat

March raw sugar settled up 0.7% to 14.64 cents per lb.
March London cocoa edged up 0.1% to 1,655 pounds per tonne.
March robusta coffee edged up 0.2% to $1,382 a tonne.

Published 23 Dec, 2020 08:29pm

Europe

Families of Italian COVID-19 victims seek $122mn from government

A group representing 500 families said it would file the lawsuit against Prime Minister Conte, health minister and Lombardy president.
Italy has recorded nearly 70,000 deaths linked to Covid-19, more than any other country in Europe.

Updated 23 Dec, 2020 08:30pm

Europe

Britain approves use of COVID-19 self-test kit

Boris Johnson promised a "world-beating" national test-and-trace system earlier this year.
NHS Test and Trace system has been heavily criticised following a series of high-profile failures since its launch earlier this year.

Published 23 Dec, 2020 08:24pm

Middle East

Dubai to begin inoculations with Pfizer-BioNTech vaccine from Wednesday

The UAE was the first country outside China to roll out the Chinese vaccine to the public, saying earlier this month it had 86% efficacy.
The first phase of the COVID-19 vaccine would be for citizens and Dubai residents 60 years and above, and for individuals with chronic illness over the age of 18.

Published 23 Dec, 2020 08:21pm

Europe

EU acts to prepare path to Brexit trade deal, EU sources say

UK leaves EU's orbit at the end of this year.
No deal yet in trade talks, Britain says.
EU prepares path for a trade deal.

Published 23 Dec, 2020 08:18pm

Africa

Africa needs about $9bon for COVID-19 vaccines, access is big problem

African nations cannot compete with wealthier governments that have secured huge supplies of inoculations.
If the supply of COVID-19 vaccines is left to (the) market, many developing countries will be essentially rationed out of it, Africa included.

Updated 23 Dec, 2020 08:18pm

Forex

Pound jumps above $1.35 as Brexit deal said to be in sight

The pound which had earlier firmed on the lifting of a French border blockage extended gains to trade up 1%.
Euro zone government bond yields rose after the report with Germany's 10-year yield up 5 bps.

Published 23 Dec, 2020 07:33pm

Pakistan

Hindu community granted permission to construct cremation ground in Islamabad

In its order, the CDA said the height of the boundary wall shall not exceed seven feet and that of the enclosure not less than three feet.
The construction of the community centre will begin in January.

Updated 23 Dec, 2020 07:40pm

Energy

China's November gasoline exports off peak, LNG imports at record high

November gasoline exports fell 31.6% from a year earlier to 1.26 million tonnes, off October's record 1.91 million tonnes.
Diesel exports in November fell 13.2% year-on-year to 1.92 million tonnes, which was also down from 2.17 million tonnes in October.

Updated 23 Dec, 2020 07:32pm

Middle East

Dubai rolls out Pfizer-BioNTech vaccination campaign

The UAE has so far recorded more than 197,000 cases of the novel coronavirus, including 645 deaths.

Published 23 Dec, 2020 07:28pm

World

Masks block 99.9pc of large Covid-linked droplets: study

Smaller ones, sometimes called aerosol droplets, can remain suspended in the air for longer periods.

Published 23 Dec, 2020 07:24pm

Europe

First vaccines leave plant for EU rollout

Pfizer refused to say where in the EU the first deliveries were headed.

Published 23 Dec, 2020 07:22pm

USA

US purchases additional 100 million doses of Pfizer vaccine

The US is hoping to immunize 20 million people this month, with long-term care residents and health workers at the front of the line.

Published 23 Dec, 2020 07:13pm

World

WHO Wuhan probe not looking for Covid 'guilty' parties

The 10 scientists will also be accompanied by Peter Ben Embarek, a WHO expert on food safety and zoonoses.

Published 23 Dec, 2020 07:11pm

World

Israel to hold snap election, with Netanyahu facing new challenges

Israel’s longest-serving leader will also have to contend with a new rival from the right, Gideon Saar, a defector from Netanyahu’s Likud party.
“If an election is forced upon us, I promise you that we will win,” says Netanyahu.

Updated 23 Dec, 2020 07:09pm

Europe

Families of virus dead sue Italy govt for 100 million euros

Italy was the first country outside China to suffer a major outbreak of coronavirus and remains one of the worst hit, with almost 70,000 reported deaths so far.

Published 23 Dec, 2020 07:07pm

Technology

PITB and KPITB Partner to expand two NICs in Swat and Kohat

Punjab Technology Board (PITB) and Khyber Pakhtunkhwa Information Technology Board (KPITB) join hands to establish two National Incubation Centers (NICs) in University of Swat and Kohat University of Science & Technology.

Published 23 Dec, 2020 07:06pm

Africa

Two demonstrators killed in Zambia protest

A veteran campaigner and self-made entrepreneur, he bid five times for the presidency between 2006 and 2016.

Published 23 Dec, 2020 07:04pm

Pakistan

UAE wants Economic Roadmap with Pakistan to boost bilateral trade

The USE Ambassador visited CCI on Wednesday and exchanged views to explore trade opportunities between both the countries.

Published 23 Dec, 2020 07:01pm

Pakistan

Gold prices decrease Rs.200 to Rs112,250 per tola

The price of ten gram gold also increased by Rs. 172 and was sold at Rs.96,493.

Published 23 Dec, 2020 07:00pm

Pakistan

Rupee gains 13 paisas against US dollar

The buying and selling rates of dollar were recorded at Rs160.4 and Rs161.2 respectively.

Published 23 Dec, 2020 06:59pm

Pakistan

PSX turns around, gains 180 points to close at 43,087 points

As many as 387 companies transacted shares in the stock market, 231 of them recorded gain and 136 sustained.

Published 23 Dec, 2020 06:58pm

Europe

As mutated variant spreads, PM Johnson mulls stricter lockdown

The British government will review whether it needs to impose its strictest COVID-19 restrictions on more of the country on Wednesday as a highly infectious variant continues to spread but will not change Christmas rules.
Britain reported a record number of new infections on Tuesday as a mutated strain of the coronavirus, which could be up to 70% more transmissible than the original.

Published 23 Dec, 2020 06:56pm

Pakistan

Cement export decreases 0.43pc in five months

The exports during July-November (2020-21) were recorded at $ 9.747 billion.

Published 23 Dec, 2020 06:57pm

Pakistan

Gold imports fall 44 percent in 5 months

On year-on-year basis, the gold imports into the country witnessed a decrease of 1.39 percent during the month of November 2020.

Published 23 Dec, 2020 06:56pm

Technology

Google told its scientists to 'strike a positive tone' in AI research: documents

Google's new review procedure asks that researchers consult with legal, policy and public relations teams before pursuing topics such as face and sentiment analysis and categorizations of race.
The "sensitive topics" process adds a round of scrutiny to Google's standard review of papers for pitfalls such as disclosing of trade secrets.

Published 23 Dec, 2020 06:37pm

Energy

Oil steadies as surprise US stockbuild weighs

US crude stocks rose by 2.7 mln bbls last week –API.
Trump threatens not to sign long-awaited stimulus bill.
Exxon issues force majeure on Nigerian crude stream.
New strain of coronavirus also weighs on demand outlook.

Published 23 Dec, 2020 06:35pm

Europe

Turkey hopes to turn new page with US and EU in 2021: Erdogan

This month Washington sanctioned Turkey over its acquisition of Russian S-400 missile defences.
Erdogan said "artificial agendas" tested Turkey's ties with the EU and United States in 2020, but he hoped things would improve.

Published 23 Dec, 2020 06:33pm

Stocks

Sri Lankan shares slip as financial stocks drag

The benchmark stock index ended down 0.1% at 6,629.02. It is up 8.2% so far this year.
Carson Cumberbatch Plc and Ceylon Tobacco were the biggest boosts to the index, ending up 4% and 0.7%, respectively.

Published 23 Dec, 2020 06:31pm

Commodities

Gold gains as dollar dented by Trump threat to stimulus bill

No real resistance until $1,900 for gold – analyst.
Trump threatens not to sign US stimulus deal.

Published 23 Dec, 2020 06:29pm

Commodities

Palm jumps over 3pc as US soyoil rallies on Argentina strikes

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 3.6% higher, or 8 ringgit, at 3,536 ringgit ($870.72).
Palm tracked higher prices of soyoil on the CBOT, up 2.2%, as Argentine soymeal exports stalled due to labour strikes.

Published 23 Dec, 2020 06:27pm

Companies

Telecom Italia to retain Nokia as supplier, curbing Huawei's share of 5G radio network

The RAN infrastructure includes the base stations and antennas that connect smartphones to the mobile network, and accounts for the bulk of the cost of a new network.
Ericsson will provide the bulk of the equipment, while Huawei and Nokia will get a 20-25% each.

Published 23 Dec, 2020 06:25pm

Companies

German airline Lufthansa reaches deal with pilots on cost savings

Like its rivals, Lufthansa is struggling to deal with global travel restrictions and grounded fleets in the wake of the coronavirus pandemic.
Lufthansa is ruling out layoffs of pilots for operational reasons at Lufthansa, Lufthansa Cargo, Lufthansa Aviation Training and a subgroup of Germanwings pilots until March 2022.

Published 23 Dec, 2020 06:23pm

Commodities

Ukraine's 2020-21 beet sugar output at 984,300 tonnes so far

Total white sugar output of 1.2 million tonnes predicted by the union for the full harvest year.
Farmers harvested about 9 million tonnes of sugar beet this year.

Published 23 Dec, 2020 06:21pm

Forex

Euro, Aussie gain, disregarding Trump's threat to block stimulus

Dollar dips despite Trump threat over stimulus package.
Euro hits $1.22, Aussie adds 0.7%.
Sterling higher on hopes a Brexit deal is nearing.

Published 23 Dec, 2020 06:20pm

Money & Banking

Iceland to sell 25pc stake in state-owned Islandsbanki: report

Finance Minister Bjarni Benediktsson, in a memorandum published on Tuesday, valued Islandsbanki at between 130 billion Icelandic crowns ($1 billion) and 140 billion crowns.

Published 23 Dec, 2020 06:11pm

Companies

Merck in supply agreement with US government for its COVID-19 treatment

The agreement will help support advanced development and large-scale manufacturing of Merck's investigational therapeutic MK-7110 to treat hospitalized patients with severe or critical COVID-19.

Published 23 Dec, 2020 06:09pm

South Asia

Thailand plans 12pc rise in budget deficit for 2022 fiscal year

Budget deficit seen at 700 bln baht FY 2022, up 12.4%.
Spending estimated at 3.1 trln baht, down 5.7%.
Budget based on expected 2022 growth of 3.5%.

Published 23 Dec, 2020 06:07pm

Energy

Petrobras readies sale of Brazil-Bolivia gas pipeline stake

Petrobras, as the Rio de Janeiro-based company is known, is also selling its 25% stake at Transportadora Sulbrasileira de Gas S.A. (TSB).
In a separate filing, Petrobras also announced the binding phase of the process to sell 26 concessions at the Potiguar basin.

Published 23 Dec, 2020 06:05pm

Pakistan

COVID-19 vaccine will be available in Pakistan by March 2021: Dr Faisal Sultan

The vaccine will first be administered to frontline health workers and people over 60 years.
SAPM confirmed the development saying that the government is in talks with three vaccine-makers.

Updated 23 Dec, 2020 06:05pm

Companies

Russia's Fesco Sees Higher Revenue In 2020, More Investment In 2021

Fesco sees 2020 revenue up by around 8%.
The company plans to invest $77 million in 2021 compared to $56 million in 2020.

Published 23 Dec, 2020 05:59pm

Europe

Swiss start Covid-19 vaccinations

The European Union, of which Switzerland is not a member, is scheduled to start vaccinations on December 27.

Published 23 Dec, 2020 06:02pm

Europe

Serbia to start Covid-19 vaccinations Thursday

Serbia has lost almost 2,800 to the novel coronavirus while more than 300,000 have been infected.

Published 23 Dec, 2020 06:00pm

Middle East

Lebanon to ask consultants to resume central bank audit, minister says

Parliament agreed this week to lift banking secrecy for one year, after the restructuring consultancy Alvarez & Marsal pulled out of the audit.
It was decided based on the law from parliament and government decisions to contact the firm A&M to resume the forensic audit.

Published 23 Dec, 2020 05:54pm

Europe

Czechs extend emergency, close shops as cases soar

The Czech Republic has struggled to bring infection rates under control ever since.

Published 23 Dec, 2020 05:57pm

South Asia

Myanmar ethnic group sentences child murderer to death

Shan State is home to several armed ethnic groups who are allowed unofficial autonomy in an uneasy agreement with Myanmar's military.

Published 23 Dec, 2020 05:52pm

South Asia

Cairn Energy wins over $1.2 billion from India in tax arbitration case

The amount is nearly equal to London-listed Cairn's market value of $1.3 billion as of Tuesday's close.
We will have to challenge both cases as we will otherwise give a wrong signal to investors

Published 23 Dec, 2020 05:52pm

Europe

French President Macron improving after COVID diagnosis: presidency

Macron has been has been self-isolating at Versailles, and BFM TV this week broadcast live images of him chairing a government ministerial meeting via an audiovisual link.

Published 23 Dec, 2020 05:49pm

Europe

COVID-19: UK may impose tier 4 restrictions in more areas

The ongoing tier four restrictions – which were placed in London and large parts of south-east England – were due to be reviewed on 30 December.

Published 23 Dec, 2020 05:50pm

Middle East

Israel heads to polls again amid pandemic and PM's legal woes

In the looming election battle, Netanyahu is likely to tout his main diplomatic achievements, a series of US-brokered normalisation deals with Arab states.

Published 23 Dec, 2020 05:50pm

Africa

Quarter of a million children in need in N. Mozambique: UN

Unicef is appealing for $52.8 million to meet the most pressing humanitarian needs in Mozambique in 2021, of which $30 million would be earmarked for Cabo Delgado.

Published 23 Dec, 2020 05:47pm

Commodities

South America supply concerns drive soybeans to 6-1/2 year high

S. America dryness, Argentine strike boost soy prices.
Corn futures hit new high since July 2019, wheat eases.
Market awaits pre-holiday US export sales data.

Published 23 Dec, 2020 05:47pm

Commodities

Copper pushes back towards highs as investors regain their nerve

Benchmark copper on the London Metal Exchange (LME) was up 0.8% at $7,808 a tonne.
Nonetheless, prices are up about 30% this year thanks to strong Chinese demand and massive speculative investment.

Published 23 Dec, 2020 05:45pm

South Asia

Taiwan's EVA Air sacks pilot blamed for rare local COVID case

Taiwan has kept the pandemic well under control thanks to early and effective prevention methods and widespread use of masks.
EVA Air has always abided by the government's epidemic prevention policies, and most crew members also followed the epidemic prevention regulations.

Published 23 Dec, 2020 05:43pm

Africa

UN says seized C.African town under peacekeepers' control

The civilians are starting to return. The armed groups have been pushed back into the bush.

Published 23 Dec, 2020 05:26pm

Companies

Pfizer to supply US with 100 million more COVID-19 shots by July

The agreement brings the total number of doses to be delivered to the United States to 200 million, allowing for 100 million people to be vaccinated.
Pfizer and German partner BioNTech SE will deliver at least 70 million doses by June 30, with the balance of the 100 million doses to be delivered no later than July 31.

Published 23 Dec, 2020 05:40pm

Forex

Rouble overcomes sanction fears to recover against dollar

The rouble was 1% stronger against the dollar at 75.15, up from its weakest level since early December of 75.91.
Market sentiment has been soured by fears that the West may impose new sanctions, although Moscow denies any wrongdoing.

Published 23 Dec, 2020 05:38pm

Europe

Ninety-year-old woman first in Switzerland to get COVID-19 shot

Initial vaccine doses will go to cantons to inoculate vulnerable people, including those aged over 75 and people with medical conditions.
"Residents of nursing and care homes will be first to get vaccines."

Published 23 Dec, 2020 05:35pm

Europe

Brexit trade talks difficult as EU and UK still split on key issues

UK leaves EU's orbit at the end of this year.
Not deal yet in trade talks, Britain says.
Differences remain over fishing and competition.

Published 23 Dec, 2020 05:28pm

Middle East

Israel hopes for rapprochement with fifth Muslim country before Trump exit - minister

Israel is working towards formalising relations with a fifth Muslim country during U.S. President Donald Trump’s term, which ends next month.
The White House has brokered rapprochements between Israel and the United Arab Emirates, Bahrain, Sudan and Morocco this year, with Morocco hosting an Israeli-U.S. delegation on Tuesday to flesh out the upgrade in relations.

Published 23 Dec, 2020 05:27pm

Pakistan

COVID-19 pandemic: 40 dead, 918 new infections reported in Sindh

The provincial tally of infections increased to 207,407 and deaths to 3,419
Most cases surfaced in Karachi with 635 cases, including 203 from District South, 270 in District East, 92 in Central District and 19 in Korangi

Published 23 Dec, 2020 05:22pm

Pakistan

China seeks additional guarantees from Pakistan before authorising $6 billion new loan for rail project

China has also proposed a mix of commercial and concessional loan against Islamabad’s desire to secure the cheapest lending.
The purpose of raising the issue was getting more clarity after Pakistan availed G-20 countries debt relief initiative, says an official.

Updated 23 Dec, 2020 05:21pm

Pakistan

Pakistan's new economic security policy aiming to connect Central Asia requires peace in Afghanistan: Moeed

SAPM says both countries should devise a comprehensive strategy to promote economic ties
Peace in Afghanistan is essential for building strong contacts with Central Asian states: Moeed

Updated 23 Dec, 2020 05:14pm

Pakistan

Court summons Achakzai over his controversial remarks about people of Punjab

Petitioner says the PKMAP leader had accused the people of Lahore of siding ways with British along with Hindus and Sikhs in occupying the Afghan territory
The court directed Achakzai to either appear in person or send his lawyer and also sought a report from the police on December 24

Published 23 Dec, 2020 04:16pm

Business & Finance

Despite COVID-19, Pakistan’s IT exports post impressive growth of 39pc

The country’s IT exports stood at USD763 million as compared to USD549 million in the corresponding period last year

Published 23 Dec, 2020 04:14pm

Pakistan

Govt files reference in SC seeking guidance on open ballot for Senate polls

The reference was filed under Article 186 of the Constitution.
The government has also sought out guidance of the court if the issue can be decided without amending the constitution and introducing amendment in section 122 (vi) of the Election Act 2017.

Published 23 Dec, 2020 04:00pm

Perspectives

Unpaid Electric Bills Undermine Efforts to Improve Access and Reliability: EPIC Chicago

A new study by the Energy Policy Institute at the University of Chicago (EPIC) suggests that unpaid electric utilities in many developing countries including Pakistan have undermined efforts to improve access and reliability in the energy sector.

Published 23 Dec, 2020 03:30pm

Pakistan

COVID-19 outbreak: Ghani says it is unlikely schools will reopen from January next year

Education minister says students would not be promoted without sitting for examinations this time
COVID-19 situation in the country has become serious due to rapid rise in infections: Ghani

Updated 23 Dec, 2020 03:20pm

Business & Finance

Pakistan in contact with leading COVID-19 vaccines manufacturers, including Chinese

Special Assistant to Prime Minister on National Health Services, Dr Faisal Sultan said that COVID-19 vaccine would be available in Pakistan by March next year.

Published 23 Dec, 2020 02:51pm

Pakistan

President Alvi approves reference to SC opinion over Senate elections

The government has also sought out guidance of the court if the issue can be decided without amending the constitution and introducing amendment in section 122 (vi) of the Election Act 2017.
The reference will be filed under Article 186 of the Constitution.

Published 23 Dec, 2020 02:11pm

Forex

Currency notes: exchange rates

KARACHI: Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan...

Updated 23 Dec, 2020 02:04pm

Business & Finance

Pakistani workers making clothes for UK’s leading fashion brand are underpaid: Report

Boohoo has suspended a supplier, JD Fashion Ltd, and a factory, AH Fashion, from its supply chain.

Updated 23 Dec, 2020 01:58pm

Sports

Shadab ruled out of first Test against New Zealand after Babar, Imam

All-rounder will undergo MRI scans in Tauranga on Thursday.
The team management has included left-arm spinner Zafar Gohar as a reinforcement.

Published 23 Dec, 2020 01:42pm

World

U.S Coronavirus relief package contains $25 million for gender, democracy programs in Pakistan

The bipartisan coronavirus aid package, recently negotiated by the United States Congress, contains nearly $25 million allocated for "gender" and "democracy" programs in Pakistan.
President Trump berated the relief package, stating that "Congress found plenty of money for foreign countries, lobbyists and special interests, while sending the bare minimum to the American people who need it".

Updated 23 Dec, 2020 01:46pm

Pakistan

PM announces health cards, housing facility for Islamabad police

Imran says nation should consider the police as their own and love them
Government has secured a major achievement on economic front by turning the country's current account deficit in surplus for fifth consecutive month: PM

Updated 23 Dec, 2020 01:15pm

Pakistan

Pakistan summons Indian diplomat to protest LoC violations that left 1 dead, 3 injured

On Tuesday, a 50-year-old woman was killed and three civilians including four-year-old minor sustained injuries after Indian troops resorted to indiscriminate firing in Hotspring and Jandrot Sectors of the LoC.
The Indian occupation forces have carried out 3012 ceasefire violations to date.

Published 23 Dec, 2020 12:49pm

World

Coronavirus reaches end of earth as first outbreak hits Antarctica

Chile’s armed forces said at least 36 people had been infected at its Bernardo O’Higgins base, including 26 army personnel and 10 civilian contractors conducting maintenance at the base.

Published 23 Dec, 2020 12:47pm

World

China's CAS COVID-19 vaccine induces immune response in mid-stage tests

The vaccine also triggered moderate cell-based immune responses, a crucial part of the human immune system that works differently from antibodies.

Published 23 Dec, 2020 12:42pm

Europe

Russia not expecting 'anything good' from Biden administration

We are definitely not expecting anything good.

Published 23 Dec, 2020 12:40pm

Stocks

Tokyo shares rebound on bargain hunting despite US, virus concerns

Advantest, a major producer of chip-testing tools, surged 2.49 percent to 7,400 yen. Tokyo Electron, a producer of equipment to make semiconductors, rose 1.41 percent to 36,560.

Published 23 Dec, 2020 12:37pm

South Asia

NATO Forces Now Outnumber U.S Troops in Afghanistan

The combined NATO troop presence in the country outnumbers that of the United States; for the first time in the history of the conflict.
As of yet, there are nearly 4000 American troops deployed in Afghanistan, while a multi-lateral contingent of NATO troops numbering 11,000 (from several nations including the United States) remain in the country.

Updated 23 Dec, 2020 12:37pm

Technology

Pakistan among Top 10 countries with fastest growth in Open-Source development

As per the report, the percentage growth in contributors in Pakistan since last year reached 51.5 percent, as compared to 41pc growth seen last year.

Published 23 Dec, 2020 12:32pm

Business & Finance

FBR clarifies on treatment of closing stock

LCCI stated that in the case of importers, tax collected at the import stage during TY-19 had become final tax at the time of collection, therefore the income from the disposal of such closing stock shouldn't be included in taxable income for the TY-20 as it would result in double taxation.

Published 23 Dec, 2020 12:01pm

USA

President Trump pardons 15 people, including two convicted for Russia probe

On Tuesday, President Donald Trump granted a full pardon to George Papadopoulos, his former campaign aide who pleaded guilty after Robert Mueller's investigation into Russian meddling in the 2016 Presidential Election.
These names were listed by the White House in a wave of pre-Christmas pardons, with President Trump granting full pardons to 15 people and commuted (fully or partly) the sentences of an additional five others.

Updated 23 Dec, 2020 11:51am

DDC polls: PAGD clinches historic win against Modi-led BJP in IIOJK

The anti-Modi alliance won more than 100 seats while the BJP could only win polls on 74 seats
Gupkar Alliance leaders said that their candidates were not allowed to campaign and confined in security enclosures
The polling for DDC elections was held in eight phases on 280 seats — 14 in each of the 20 districts of the union territory

Published 23 Dec, 2020 11:44am

Business & Finance

Kitchen equipment piles up as pandemic shutters Japan's restaurants

Around 800 Japanese businesses hit by the COVID-19 pandemic have gone bankrupt from February to mid-December, according to credit research firm Teikoku Databank.

Published 23 Dec, 2020 11:41am

Business & Finance

Bukhari applauds Overseas Pakistanis as remittance boom continues

“Thanks to Overseas Pakistanis remittances boom continues too,” said Bukhari in a tweet post.

Published 23 Dec, 2020 11:40am

Business & Finance

Asia's capital markets to focus on vaccine in 2021, say bankers

The $37 billion Ant Group IPO, shelved in November when China announced a new regulatory regime for fintech companies, would have propelled Hong Kong to the top of the global rankings.

Published 23 Dec, 2020 11:39am

Europe

Empty stores and offices: how Sweden aims to plug housing gap

The government is now examining whether empty commercial real estate in the wake of COVID-19 could be converted to help plug a shortfall of around 140,000 homes.

Published 23 Dec, 2020 11:33am

USA

Biden's Latino education secretary to add to diverse Cabinet

The elder Biden has vowed not to interfere in the investigation or discuss it with his nominee.

Published 23 Dec, 2020 11:29am

Pakistan

Visas issued to 47 Indian Hindu pilgrims to visit temples in Pakistan

These pilgrims will visit Shree Katas Raj Temples, also known as Qila Katas in Chakwal district of Punjab from December 24 till December 29.
Thousands of Indian Sikh and Hindu pilgrims visit Pakistan every year to observe several religious festivals.

Published 23 Dec, 2020 11:14am

Financial

US Treasury-led report calls for overhaul of money market funds

The crunch prompted the Fed to buy $1.6 trillion in Treasuries and take other measures to stabilize the markets.

Published 23 Dec, 2020 11:26am

Forex

Investors bet weak dollar will keep risk rally going in 2021

Few expect betting against the dollar, however, to be a one-way street. Signs that the Fed may tighten monetary policy earlier than expected could also boost the greenback, analysts said.

Published 23 Dec, 2020 11:19am

Business & Finance

Canada and Britain sign interim deal to avoid tariff increase after Brexit

With the interim agreement, the Canadian government "is making sure businesses can easily continue trading without adding paperwork for businesses and importers," it said in a statement.

Published 23 Dec, 2020 11:15am

World

EU starts to ease bans over UK virus strain; WHO to meet

The major British transit hub said it would reopen from midnight local time (2300 GMT) for travellers with a negative result.

Published 23 Dec, 2020 11:13am

Stocks

Hong Kong stocks end morning with gains

The Hang Seng Index rose 0.44 percent, or 116.02 points, to 26,235.27.

Published 23 Dec, 2020 11:09am

World

Three police shot dead, fourth wounded in central France

"The greatest precautions are being taken with regard to the dangerousness of the individual," a source close to the investigation told AFP.

Published 23 Dec, 2020 11:07am

Business & Finance

U.S. sues Walmart saying pharmacies fueled opioid crisis, retailer rejects allegations

In a civil lawsuit in U.S. District Court in Delaware, the government said Walmart failed to take its gatekeeping duties as a pharmacy seriously, allegations the company rejected.

Published 23 Dec, 2020 10:56am

USA

Trump voices concern about Vietnam's trade deficit in call with PM

8 US companies imported about $65 billion worth of goods from Vietnam in the first 10 months of 2020, compared with $66.6 billion for all of 2019.

Published 23 Dec, 2020 10:54am

Business & Finance

Apple targets car production by 2024 and eyes 'next level' battery technology

The iPhone maker’s automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design its own vehicle from scratch.

Published 23 Dec, 2020 10:52am

Business & Finance

Elon Musk says had once reached out to Apple for acquiring Tesla

Apple's automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design its own vehicle from scratch.

Published 23 Dec, 2020 10:51am

World

Labour Friends of Kashmir felicitates Wajid Khan on his appointment to House of Lords

The Labour Friends of Kashmir is a voluntary group that campaigns for peace and justice in Kashmir, with a specific focus on international law and human rights
Wajid has been highlighted the importance of helping the Labour Party develop a strong policy to bring about peace in South Asia

Published 23 Dec, 2020 10:52am

Sports

Messi breaks Pele's record goal haul by scoring 644th for Barca

Pele scored 643 goals in 665 competitive games for Santos, while Messi needed 749 matches to break the record, although he did it in 17 seasons compared to the 19 the Brazil great needed.

Published 23 Dec, 2020 10:49am

Companies

UK car output down 1.4% for November, Brexit deal needed

"Yet another decline for UK car production is of course concerning, but not nearly as concerning as the New Year nightmare facing the automotive industry if we do not get a Brexit deal that works for the sector," SMMT Chief Executive Mike Hawes said.

Published 23 Dec, 2020 10:47am

Financial

China central bank to cool credit growth in 2021, avoid premature policy tightening

"It's possible to shift from stabilising leverage to reducing leverage if the recovery reaches a certain stage, but we should not rush," said Jia Kang, head of the China Academy of New Supply-side Economics.

Published 23 Dec, 2020 10:43am

Markets

SEC permits companies to raise capital through Direct Listing

The development will reduce costs for startups as they will no longer be required to let investment banks buy and sell when they first go public on the NYSE.

Published 23 Dec, 2020 10:39am

World

UN, African Union peacekeeping mission in Sudan's Darfur to end Dec. 31

Many Darfuri residents say UNAMID has not effectively protected them, but they fear its withdrawal will leave them more vulnerable and have staged protests in recent weeks.

Published 23 Dec, 2020 10:40am

Commodities

Argentine soymeal exports stalled as wage strike reaches 13th day

Since last week no soybean trucks have entered terminals at the country's main grains hub of Rosario, from which about 80% of Argentina's farm exports are shipped.

Published 23 Dec, 2020 10:33am

Business & Finance

Brexit trade deal between EU and UK possible on Wednesday

The UK wants to gradually curb EU access to its fishing waters over three years, while the bloc is proposing six years, to give its fishing industry longer to adjust.

Published 23 Dec, 2020 10:31am

Energy

Brent oil may fall towards $47.81

The support is identified as the 23.6% retracement of a five-wave cycle from $39.34. The wave c is expected to travel to $47.81, its 100% projection level.

Published 23 Dec, 2020 10:30am

Commodities

Palm oil may test support at 3,381 ringgit

A break above 3,426 ringgit may lead to a gain to 3,474 ringgit.

Published 23 Dec, 2020 10:28am

Financial

BOJ debated room for stimulus tweaks with eye on long battle with pandemic

In a sign the board was bracing for a long-term battle to ease the strain from COVID-19, one board member said the BOJ must "deeply discuss" policy responses aimed at achieving its 2% inflation target, according to the minutes.

Published 23 Dec, 2020 10:23am

World

Hate speech against Pakistanis: UK media watchdog fines Arnab’s Republic TV £20,000

The Hindi media outlet has been directed to air an apology on the channel
Ofcom announced that it has fined Republic TV for using highly offensive hate speech against Pakistani people in its talk show
The TV show was aired on July 22, 2019, featured a debate between Arnab Goswami, and his guests that included three Indian and three Pakistani individuals

Published 23 Dec, 2020 10:15am

Commodities

Gold inches higher on hopes of further US stimulus

SPDR Gold Trust the world's largest gold-backed exchange-traded fund, said its holdings fell 0.20% to 1,167.53 tonnes on Tuesday from 1,169.86 tonnes on Monday.

Published 23 Dec, 2020 10:18am

Energy

US oil may fall towards $44.61

The third wave labelled c is unfolding towards $44.61. Resistance is at $47.50, a break above which could lead to a gain to $48.42.

Published 23 Dec, 2020 10:16am

Energy

China's 2020 crude oil production to reach 3.87mn bpd

Natural gas production in China is meanwhile set to exceed 186 billion cubic meters this year, Zhang was cited as saying at an energy work conference, up at least 7.1% from 2019.

Published 23 Dec, 2020 10:14am

Stocks

Australian shares set to open higher, snap three-day losing streak; NZ up

The local share price index futures rose 0.97%, a 27.6-point discount to the underlying S&P/ASX 200 index close.

Published 23 Dec, 2020 10:11am

Stocks

Australia shares set to snap three-day losing streak; NZ up

The heavyweight financial sub-index strengthened 1%, with all the "Big Four" banks posting gains.

Published 23 Dec, 2020 10:09am

Pakistan

Pakistan reports 4,415 COVID-19 recoveries in 24 hours

So far, 415,352 people have recovered from the virus in Pakistan.
2,142 people also tested positive for coronavirus in last 24 hours.

Published 23 Dec, 2020 09:53am

Forex

Australia, NZ dollars seesaw on Brexit, US stimulus news

Data out Tuesday showed retail sales surged past all expectations in November as online discounts boosted demand for electronics and household goods.

Published 23 Dec, 2020 10:06am

Forex

Virus worries buoy dollar, pound swung by Brexit gyrations

A deal is possible Wednesday, an ITV reporter tweeted.

Published 23 Dec, 2020 10:03am

Energy

Oil falls on surprise build in US crude stocks, Trump threat to US relief spending

Oil fell further after Trump threatened not to sign an $892 billion coronavirus relief bill, saying he wants Congress to increase the amount in the stimulus checks which lawmakers approved on Monday.

Published 23 Dec, 2020 10:01am

Commodities

Spot gold may drop to $1,845

The third wave labelled c is roughly 76.4% the length of the first wave labelled a, as revealed by a projection analysis.

Published 23 Dec, 2020 09:59am

Technology

WhatsApp, Google can thrive as super-apps in India

Of course, big companies might choose to hold back.

Published 23 Dec, 2020 09:55am

Commodities

CBOT soybeans neutral in $12.38-1/4 to $12.51 range

The contract is consolidating within a wedge, which looks like a bullish continuation pattern. However, a target of $12.61 will only be established when the contract breaks $12.51.

Published 23 Dec, 2020 09:53am

2020

Asian business confidence gains steam, pandemic still top risk

"While I still see some uncertainty, the numbers are good," said Fatas. "It looks like a recovery that is taking speed and where more businesses feel confident."

Published 23 Dec, 2020 09:49am

World

Coronavirus reaches end of earth as first outbreak hits Antarctica

An Army press officer said the first COVID-19 cases had been reported in mid-December, when two soldiers fell ill.

Published 23 Dec, 2020 09:49am

Asia

South Korea logs second-highest daily coronavirus tally as criticism of govt grows

Seoul and its surrounding areas have banned gatherings of more than four people from Dec. 23 to Jan. 3, and both restaurant owners and patrons may face up to 3 million won ($2,700) in fines for violation of the order.

Published 23 Dec, 2020 09:47am

World

Biden says huge data breach poses 'grave risk' to U.S., promises response

At a news conference, Biden faulted President Donald Trump for stripping U.S. defenses against cyber attacks, saying, “This assault happened on Donald Trump’s watch, when he wasn’t watching."

Published 23 Dec, 2020 09:45am

Stocks

Stock futures slip as Trump threatens to derail stimulus bill

The Australian dollar edged higher to $0.7540 and most other majors were pretty close to flat, with the euro at $1.2171 and sterling at $1.3390.

Published 23 Dec, 2020 09:45am

World

Trump grants full pardon to Russia probe figure George Papadopoulos

Trump also pardoned Alex van der Zwaan, 36, the Dutch son-in-law of Russian billionaire German Khan.

Published 23 Dec, 2020 09:41am

Commodities

CBOT corn still targets $4.45-1/2 to $4.47-3/4 range

Support is at $4.41-1/2, a break below which could cause a fall to $4.39.

Published 23 Dec, 2020 09:43am

Stocks

Nikkei rises as pharma stocks gain on hopes of existing vaccines working on new virus strain

The top underperformers among the Topix 30 were Honda Motor Co Ltd, down 2.43%, followed by SoftBank Group Corp , losing 1.79%.

Published 23 Dec, 2020 09:40am

World

'Good riddance,' China says as Germany leaves U.N. Security Council

Germany finishes a two-year term on the 15-member council at the end of this month and Ambassador Christoph Heusgen plans to retire after more than 40 years as a diplomat.

Published 23 Dec, 2020 09:38am

Commodities

CBOT wheat may retest resistance at $6.18-1/2

Support is at $6.09-1/4, a break below which could cause a fall into $6.02-1/2 to $6.06 range.

Published 23 Dec, 2020 09:38am

Asia

Japan to ban entry of non-Japanese from UK due to coronavirus mutation

The government will ask people including long-term foreign residents to self-quarantine for 14 days upon return from Britain.

Published 23 Dec, 2020 09:36am

Telecommunication

Palm oil edges lower on weaker rivals, higher export taxes

On the Dalian Commodity Exchange, soyoil fell 0.6% and palm oil declined 0.8%.

Published 23 Dec, 2020 09:34am

Companies

LG and Magna announce billion dollar joint venture in electric car gear

LG Electronics' vehicle component solutions business has reported 19 quarters of consecutive losses.

Published 23 Dec, 2020 09:31am

Commodities

NY cocoa may retest resistance at $2,585

The resistance is identified as the 38.2% retracement of the downtrend from $$2,821 to $2,439. The rise from $2,439 consists of three waves.

Published 23 Dec, 2020 09:30am

Companies

Malaysia's Petronas plans to restart Cendor crude output in January

The reason for the outage at the oilfield located at block PM304, offshore Peninsular Malaysia, is not known.

Published 23 Dec, 2020 09:28am

Commodities

Nickel drops to 2-week low on virus scare, ferrous sell-off

Three-month nickel on the London Metal Exchange fell to a level unseen since Dec. 8 at $16,295 a tonne, down 1.9%.

Published 23 Dec, 2020 09:26am

BR Research

Rafhan Maize Products Company Limited

Rafhan Maize Products Company Limited (PSX: RMPL) was established in Faisalabad, Pakistan. The company has three...

Published 23 Dec, 2020 09:20am

Business & Finance

Thai Nov exports drop 3.65% y/y, bigger fall than forecast

Imports in November eased 0.99% from a year earlier, resulting in trade surplus of $53 million.

Published 23 Dec, 2020 09:25am

Energy

Mexico's Pemex, Talos to keep talking over major shared oil find

The energy ministry's previous deadline for a deal on an initial so-called unitization agreement for the offshore Zama discovery would have expired next week.

Published 23 Dec, 2020 09:23am

Sports

Fulham's Andersen has red card rescinded

"An independent Regulatory Commission has removed Joachim Andersen's one-match suspension following a successful claim of wrongful dismissal," the FA said in a statement.

Published 23 Dec, 2020 09:16am

Stocks

Indian shares flat, IT gains offset worries over new virus strain

Shares of Wipro Ltd rose as much as 3.65%, after the IT services provider on Tuesday signed a $700 million deal with METRO AG to manage METRO AG's units in Germany and Romania.

Published 23 Dec, 2020 09:13am

Business & Finance

Malaysia's November CPI drops 1.7% y/y, more than forecast

The median forecast among nine economists surveyed by Reuters was for the index to decline 1.5% on-year, matching the rate posted in October.

Published 23 Dec, 2020 09:11am

Dubai to begin inoculations with Pfizer-BioNTech vaccine from Wednesday

Qatar has also granted emergency use authorisation for the COVID-19 vaccine developed by Pfizer and BioNTech, while fellow Gulf Arab state Oman will receive its first Pfizer-BioNTech vaccine shipment on Wednesday.

Published 23 Dec, 2020 09:08am

World

Germany's confirmed coronavirus causes rise by 24,740

The reported death toll rose by 962 to 27,968, the tally showed.

Published 23 Dec, 2020 09:07am

World

Worldwide coronavirus cases cross 77.57mn, death toll at 1,709,633

Infections have been reported in more than 210 countries.

Published 23 Dec, 2020 09:05am

Stocks

Hong Kong stocks down at start of trade

The Hang Seng Index slipped 0.14 percent, or 36.14 points, to 26,083.11.

Published 23 Dec, 2020 09:02am

World

Britain and France ease transport ban

French nationals, EU nationals or French residents who need to complete essential travel will be allowed to cross the border.

Published 23 Dec, 2020 08:56am

Stocks

Tokyo shares range-bound, weighed down by virus, Brexit woes

Toyota gave up earlier gains and fell 0.67 percent to 7,725, as did SoftBank Group, which lost 1.12 percent to 8,194 yen.

Published 23 Dec, 2020 08:54am

World

Trump rejects Covid relief bill, calling it 'a disgrace'

Democratic leaders pounced immediately to insist that their party had been in favor of higher individual relief payments from the start.

Published 23 Dec, 2020 08:51am

Sports

Australia's Warner, Abbott ruled out of Boxing Day India Test

"While neither player has been in a specific hotspot as outlined by NSW Health, Cricket Australia's bio-security protocols do not allow them to rejoin the squad in time for the Boxing Day Test," it said.

Published 23 Dec, 2020 08:49am

World

Biden nominates Miguel Cardona as US education secretary

"The choice of Miguel A Cardona as Secretary of Education signals that now we have the possibility, if he is confirmed, to see for the first time in history, three Latinos in the cabinet," the organization said.

Published 23 Dec, 2020 08:47am

Stocks

Asian markets bounce but Trump throws stimulus grenade

The EU has rejected the latest UK offer on the crucial sticking point of fishing but is ready to pursue an agreement even beyond the end of the year cut-off, diplomats said.

Published 23 Dec, 2020 08:44am

World

Mexico to start Covid-19 vaccinations on Thursday: govt

"Tomorrow (Wednesday) the first consignment of the Pfizer vaccine against SARS-CoV-2 arrives," he said on Twitter.

Published 23 Dec, 2020 08:43am

Sports

Australia's Lyon expects India fightback after drubbing

Lyon said the paltry 36 runs India scored in the second innings in Adelaide last Saturday was no reflection on the quality of the touring side, recalling that he was part of an Australian team bowled out for 47 in South Africa in 2011.

Published 23 Dec, 2020 08:40am

BR Research

The value-added charm

If there is one sector that has had a steep V-shaped recovery during the ongoing pandemic, it’s the textile ...

Published 23 Dec, 2020 07:40am

BR Research

Blending domestic and LNG price

The ongoing LNG debate, especially the one aired as a “great” debate, seems to have served the very purpose most...

Published 23 Dec, 2020 07:35am

BR Research

Current Account – no worries for now

Current account surplus continued for the sixth consecutive month. Less travel due to COVID is the saving grace. The...

Published 23 Dec, 2020 07:30am

BR Research

Positivity brigade

"If you want to brag, climb Everest. If you want respect, climb K2". Such is the reputation of Pakistan’s ...

Published 23 Dec, 2020 07:25am

Rates.JLI

JLI Managed Growth Fund Rates

KARACHI: Jubilee Life Insurance Managed Growth Fund Rates on Tuesday (December 22, 2020

Published 23 Dec, 2020 03:46am

Rates.LIBOR

LIBOR interbank offered rates

LONDON: London Interbank Offered Rates (LIBOR) on Tuesday (December 22, 2020)

Updated 23 Dec, 2020 03:37am

Stocks

NATIONAL CLEARING COMPANY OF PAKISTAN LIMITED (NCCPL)

KARACHI: National Clearing Company declares daily settlement information for local

Updated 23 Dec, 2020 03:37am

Money & Banking

IT and ITeS export remittances surge to $763m in 5 months

ISLAMABAD: The Information Telecommunication (IT) and IT-enabled Services (ITeS) export remittances comprising...

Updated 23 Dec, 2020 03:36am

Life & Style

Aaj TV - Wednesday's schedule

All timings are in PST (Pakistan Standard Time)

Updated 23 Dec, 2020 03:35am

Opinion

Vaccine bond sales to soar to fund COVID-19 shots for poor countries

Socially conscious bond investors will be targeted in a coming wave of vaccine bond deals that will seek to provide...

Updated 23 Dec, 2020 03:23am

Pakistan

Suspicious transactions case: IHC grants extension in bail to Zardari

ISLAMABAD: The Islamabad High Court (IHC) on Tuesday granted extension in bail to former president Asif Ali Zardari...

Updated 23 Dec, 2020 03:17am

Pakistan

LNG case: AC reserves verdict over Khaqan's plea seeking to summon Rashid

ISLAMABAD: The Accountability Court on Tuesday reserved its verdict over former prime minister and senior leader of...

Updated 23 Dec, 2020 03:17am

Pakistan

'Govt's proposed legislation seeks to legitimize, forego massive corruption'

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) central leader Mohsin Shahnawaz Ranjha has alleged that the Pakistan...

Updated 23 Dec, 2020 03:17am

Pakistan

Census approval despite reservations to be injustice with Sindh: MQM-P

ISLAMABAD: Muttahida Qaumi Movement-Pakistan (MQM-P) Tuesday said that it would be unfair with Sindh if the federal...

Updated 23 Dec, 2020 03:17am

Pakistan

AC indicts Ahsan, others in NSCCP case

ISLAMABAD: The accountability court (AC) on Tuesday indicted the Pakistan Muslim League-Nawaz (PML-N) secretary...

Updated 23 Dec, 2020 03:17am

Pakistan

JWP chief, NA Speaker discuss Balochistan situation

ISLAMABAD: National Assembly Speaker Asad Qaiser said that the government was committed to social and economic...

Updated 23 Dec, 2020 03:17am

Pakistan

Karachi PR retrieves crucial land

KARACHI: In an anti-encroachment operation conducted near Gillani station in Gulshan-e-Iqbal area, Pakistan Railways...

Updated 23 Dec, 2020 03:17am

Rates

Revised Rates of Debt Securities

KARACHI: The following were the revised rates of debt securities on Tuesday (December 22, 2020)....

Updated 23 Dec, 2020 03:16am

Rates.The Rupee

THE RUPEE: Slightly gains value

KARACHI: On Tuesday, Pakistan Rupee slightly gained value against USD in open market while losing value for buying...

Updated 23 Dec, 2020 03:16am

Forex

Kerb buying and selling rate of US dollar

KARACHI: Dollar buying and selling rate in the kerb market in rupees on Tuesday (December 22, 2020)....

Updated 23 Dec, 2020 03:16am

Forex

Dollar's rate in interbank market

KARACHI: Interbank closing rates for dollar on Tuesday (December 22, 2020). ======================== Bid Rate...

Updated 23 Dec, 2020 03:16am

Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 22, 2020)....

Updated 23 Dec, 2020 03:16am

Rates.Pakistan Economic Indicators

Pakistan Economic Indicators

KARACHI: Pakistan Economic Indicators - Tuesday (December 22, 2020)....

Updated 23 Dec, 2020 03:16am

Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Tuesday (December 22, 2020). ======================================= Offset...

Updated 23 Dec, 2020 03:16am

Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (December 22, 2020)...

Updated 23 Dec, 2020 03:16am

Rates.LME

LME official prices

LONDON: The following were Monday official prices....

Updated 23 Dec, 2020 03:16am

Rates.Bullion

Bullion Rates

KARACHI: Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 22, 2020)....

Updated 23 Dec, 2020 03:16am

Pakistan

The Weather

KARACHI: The weather report on Tuesday (December 22, 2020) and the forecast for Wednesday (December 23, 2020)....

Updated 23 Dec, 2020 03:16am

Pakistan

All plans of opposition to be flopped: Sarwar

LAHORE: Punjab Governor Chaudhry Mohammad Sarwar has said that all the plans of the opposition will flop and the...