News Archives for Latest - 2021-01-08

Pakistan

Machh massacre: Nawaz Sharif directs PML-N leaders, workers to join protests

Party leader has directed his workers and local leadership to join the protests of Hazara community in their respective cities.
PML-N supremo has also instructed ex-PM Shahid Khaqan Abbasi to raise the issue in the Pakistan Democratic Movement (PDM) meeting.

Published 08 Jan, 2021 09:42pm

Europe

Greece extends some Covid-19 restrictions until Jan 18

The country has been in lockdown since early November due to a spike in COVID-19 infections.
Other key sectors, including retailers and hair salons, will remain shut until Jan. 18

Published 08 Jan, 2021 09:37pm

USA

Canada PM Trudeau says there could well be an election soon, doesn't want one

Trudeau, who says his priority is tackling the coronavirus epidemic, has previously sidestepped questions about an election.
Our priority as a government is going to be helping people get through this pandemic ... it's not in our interests to have an election.

Published 08 Jan, 2021 09:35pm

Forex

Pound climbs against weaker euro, gains seen as temporary

Markets are pricing sub-zero rates from Britain's central bank as early as May 2021.
Euro-sterling remains above the 0.90 (pence) level as the build-up of rate cut expectations (following the third lockdown) offsets the positive effect of the UK-EU trade deal

Published 08 Jan, 2021 09:34pm

Europe

UK reports daily record of 1,325 new COVID-19 deaths

The total eclipsed the previous record number of deaths reported on April 21, 2020, of 1,224.
Each life lost to this virus is a tragedy, but sadly we can expect the death toll to continue to rise until we stop the spread.

Published 08 Jan, 2021 09:32pm

Europe

Italy reports 620 coronavirus deaths on Friday, 17,533 new cases

Some 140,267 swab tests were carried out in the past day, the ministry said, against a previous 121,275.
Italy has registered 77,911 COVID-19 deaths since its outbreak came to light on Feb. 21, the second highest toll in Europe and the sixth highest in the world.

Published 08 Jan, 2021 09:24pm

Pakistan

Balochistan govt announces Rs2mn reward for information on Machh attackers

The coal miners were brutally assassinated by unidentified men in their sleeping room in the Machh coal field area on January 3.
The provincial government asked people to provide information relating to the attack on the numbers 081-9213460, 92134663/65 and 15.

Updated 08 Jan, 2021 09:25pm

Sports

Mourinho calls on Premier League not to postpone Spurs games

Mourinho's side have already had one league game postponed, against Fulham after a rise in coronavirus cases among Scott Parker's squad.
It's the moment for the Premier League to show leadership, to make decisions. A club like us is trying everything every day to be ready to play, to follow the rules we have in our hands.

Published 08 Jan, 2021 09:22pm

Business & Finance

Euro zone bond yields fall, ignoring US Treasuries

A recent rise in yields and inflation expectations has boosted the prospects of the US Federal Reserve's new monetary policy.
Germany's benchmark 10-year Bund yield fell 1 basis point to -0.524%.

Published 08 Jan, 2021 09:17pm

Forex

Dollar retreats from weekly high after US jobs report

Dollar softens after weak payrolls report.
Additional fiscal stimulus expected.

Published 08 Jan, 2021 09:16pm

South Asia

Indian govt, farmers fail to break deadlock on controversial laws

Tens of thousands of farmers have been camped on the outskirts of the capital New Delhi for over a month.
The government has constantly said that if the unions give any other option besides repeal, then the government will consider them.

Published 08 Jan, 2021 09:12pm

USA

US wholesale inventories revised up in November

The Commerce Department estimated last month that wholesale inventories dipped 0.1% in November.
Inventories decreased 2.1% in November from a year earlier.

Published 08 Jan, 2021 09:11pm

Europe

London declares emergency over 'out of control' coronavirus

London declares major incident.
Britain approves Moderna's COVID-19 vaccine.
Minister: vaccines might not work against S.African variant.
UK's COVID-19 death toll fifth largest in world.

Published 08 Jan, 2021 09:08pm

Pakistan

Hindu temple case: Prime suspect arrested from Karak district

He was arrested from the Karak district and was involved in gathering public for the vandalism and inciting them to commit the act, says IG KPK.
As many as 110 arrests have been made so far by the police for their alleged role in the incident, informs Sanaullah Abbasi.

Updated 08 Jan, 2021 09:10pm

Stocks

S&P 500, Nasdaq hit record highs as stimulus hopes outweigh dire jobs report

Nonfarm payrolls fall in December.
Tesla market cap tops $800 billion for the first time.
Micron jumps on upbeat second-quarter revenue forecast.
Indexes up: Dow 0.09%, S&P 0.43%, Nasdaq 0.84%.

Published 08 Jan, 2021 09:07pm

Stocks

TSX slips on decline in bullion prices, grim employment data

The Toronto Stock Exchange's S&P/TSX composite index was down 14.84 points, or 0.08%, at 18,012.73.
Gold fell below the key $1,900 technical level on Friday and was on track for a weekly decline, pressured by gains in the dollar and Treasury yields.

Published 08 Jan, 2021 09:04pm

USA

US CDC says priority COVID-19 vaccination groups may overlap

The CDC has said healthcare workers and nursing home residents should have priority for vaccines, to be followed by people over 75 and essential workers.
Although the federal government has distributed more than 21 million doses, only about 6 million have been administered.

Published 08 Jan, 2021 09:02pm

Companies

Canada's WestJet Airline cites 'unprecedented cancellations,' hitting 1,000 jobs

Privately-held WestJet, the country's second-largest carrier, announced further cuts to its schedule, introduced a hiring freeze.
WestJet's announcement follows new Canadian rules that passengers would need to test negative for the coronavirus before boarding a plane bound for Canada, starting on Jan. 7.

Published 08 Jan, 2021 08:59pm

Financial

Longer-term yields rise after weak US jobs report

Nonfarm payrolls decreased by 140,000 jobs last month amid growing COVID-19 cases, marking the first decline since April.
Longer-term yields have been climbing all week as Democrats won control of the US Senate as a result of Georgia runoff elections.

Published 08 Jan, 2021 08:57pm

Africa

Almost 2.3mn people need aid in Ethiopia's Tigray: UN report

The report, the most comprehensive public assessment of the humanitarian situation in Tigray since conflict erupted there on Nov. 4, was posted online late on Thursday.
Ethiopia's National Defence Force said late on Thursday that four senior TPLF members had been killed and nine arrested.

Published 08 Jan, 2021 08:55pm

Stocks

Shares of Mexico's Orbia jump after company confirms it is exploring deals

Orbia said in a statement it would continue evaluating opportunities, including the possible sale or strategic alliance in relation to Vestolit.
Orbia continually explores opportunities to create value for our shareholders, including possible alliances, mergers, acquisitions, sales and other types of strategic transactions.

Published 08 Jan, 2021 08:53pm

USA

Biden to release all coronavirus doses

The President-elect believes we must accelerate distribution of the vaccine while continuing to ensure the Americans who need it most get it as soon as possible.
He supports releasing available doses immediately.

Published 08 Jan, 2021 08:37pm

Commodities

Raw sugar recovers from previous session's 4pc plunge

March raw sugar rose 1% to 15.77 cents per lb.
March arabica coffee fell 1.4% to $1.2130 per lb.
March New York cocoa fell 0.6% to $2,474 a tonne .

Published 08 Jan, 2021 08:37pm

Stocks

Brazil stocks at record high, but Latam FX subdued by virus woes

MSCI Latam stocks index at 10-month high.
Chilean stocks outperform peers this week.

Published 08 Jan, 2021 08:30pm

USA

Canada loses 62,600 jobs in December, first decline since April

Canada lost 62,600 jobs, more than double analyst expectations of a decline of 27,500, while the unemployment rate edged up to 8.6%.
Due to both the continuing rise in virus cases... and the further curtailments of activity since the last survey.

Published 08 Jan, 2021 08:28pm

Stocks

Tesla market value crosses $800bn for the first time

In the previous session, its market value crossed $774 billion, making Tesla Wall Street's fifth most valuable company.
Its shares, which surged more than eight times last year, had closed up nearly 8% on Thursday.

Published 08 Jan, 2021 08:26pm

Stocks

Wall St sets new highs as stimulus hopes outweigh dire jobs report

The Dow Jones Industrial Average rose 28.5 points, or 0.09%, at the open to 31069.58.
The S&P 500 rose 11.3 points, or 0.30%, at the open to 3815.05.

Published 08 Jan, 2021 08:24pm

Stocks

TSX opens higher on gains in energy stocks, recovery hopes

the Toronto Stock Exchange's S&P/TSX composite index was up 16.14 points, or 0.09%, at 18,043.71.

Published 08 Jan, 2021 08:22pm

Companies

Airbus to meet top suppliers amid jet output concerns

Next week's briefing by Airbus Chief Executive Guillaume Faury for the heads of several suppliers is expected to set the manufacturing tone for the coming year.
It looks like the rate of 47 is slipping to the right.

Published 08 Jan, 2021 08:20pm

Europe

Germany secured 50mn vaccine doses from CureVac, BioNTech on top of EU supplies

The ministry official, speaking on condition of anonymity, said Germany signed a memorandum of understanding with CureVac on Aug. 31 for the supply of 20 million doses of its vaccine under development.
The internal health ministry document dated Jan. 7 and seen by Reuters had the same figures.

Published 08 Jan, 2021 08:17pm

USA

US economy loses jobs as pandemic pummels restaurants, bars

Nonfarm payrolls decrease 140,000 in December.
Restaurant, bar payrolls tumble 372,000.
Unemployment rate unchanged at 6.7%.

Published 08 Jan, 2021 08:16pm

Companies

India's TCS sees strong year ahead as remote work drives cloud demand

The results kick off India's corporate earnings season for a seasonally weak quarter for the software industry.
We should be able to get back to our aspirational double-digit growth trajectory, both for the calendar year and financial year ahead.

Published 08 Jan, 2021 08:14pm

USA

Brazil's economy faces tougher months: official

Adolfo Sachsida, economy policy secretary at the ministry, said the aid to low-income Brazilians had cost some 25 billion reais ($4.67 billion) per month.
He added that Brazil's economy should improve over the first half of the year and grow at least 3% in 2021.

Published 08 Jan, 2021 08:11pm

Europe

Portugal reports record daily increase in COVID-19 cases, deaths

Data from the DGS health authority showed 10,176 new cases and 118 deaths compared to the previous day.
The final decision will be taken after meeting health experts on Tuesday, Costa said.

Published 08 Jan, 2021 08:10pm

Companies

Cisco in court after Acacia ends $2.84bn merger deal

The swift response came after Acacia said the deal failed to obtain regulatory approval from China within the originally agreed time frame.
Cisco said it received the approval on Thursday and sought confirmation from the Delaware Court of Chancery that it has met all conditions for closing the deal.

Published 08 Jan, 2021 08:07pm

Middle East

Saudi Arabia to lift travel ban on March 31

The country will allow its citizens to travel abroad and then return from March 31.
Will open all air, land and sea ports from the same date, the agency added.

Published 08 Jan, 2021 08:05pm

USA

Trump, after promising orderly transition, vows to give 'voice' to supporters

The nearly 75 million people who voted for him "will have a GIANT VOICE long into the future.
They will not be disrespected or treated unfairly in any way, shape or form.

Published 08 Jan, 2021 08:03pm

Forex

Canadian dollar adds to weekly gain as oil climbs

Canadian dollar rises 0.1% against the greenback.
Canada sheds 63,000 jobs in December.
For the week, the loonie was on track to gain 0.4%.
Price of US oil increases 1.8%.

Updated 08 Jan, 2021 08:03pm

Africa

IMF projects Egypt's economy will grow 2.8pc in 2020/21 year

Egypt's economy had been boosted in the last three years by an upswing in tourism.
The growth impact of the COVID-19 crisis has so far been less severe than expected, as strong consumption helped offset weak tourism and investment.

Published 08 Jan, 2021 07:37pm

Commodities

Copper slips from 2013 peak as doubts grow about stimulus

Three-month copper on the London Metal Exchange was down 0.1% at $8,169.50 a tonne.
I think the market was just looking for positive news and the outcome of Georgia elections fits, but from a fundamental point of view it doesn't really change things.

Published 08 Jan, 2021 07:35pm

Commodities

Corn, soybeans steady near 6-year highs as South America in focus

South America dryness, disrupted Argentine exports fuelled rally.
Forecast rain in S. America, slower US exports curb upside.
Attention turning to Jan. 12 USDA world crop report.
Wheat also firm near 6-year top.

Published 08 Jan, 2021 07:33pm

South Asia

Malaysia PM to announce new COVID-19 measures as deaths hit daily record

The Southeast Asian nation has seen a spike in infections since September, with the number of daily reported cases climbing to record highs on two days this week.
The government has said it was considering imposing targeted lockdowns in some areas.

Published 08 Jan, 2021 07:29pm

Europe

1.1 million people in England had COVID last week

The ONS estimated that 1,122,000 people in England had the coronavirus (COVID-19) in the week to Jan 2.
London, the East of England and the South East have the highest percentage of positive cases that are compatible with the new variant of the virus.

Published 08 Jan, 2021 07:27pm

Financial

Spain to issue net 100bn euros worth of bonds in 2021, down from 110bn euros in 2020

The Treasury plans gross debt issuance of 289 billion euros compared with 277 billion euros issued last year, he added.

Published 08 Jan, 2021 07:25pm

Energy

Oil set for weekly gain on Saudi output cut pledge

Brent, WTI set for weekly gains of more than 6%.
Rally in global equities also feeds appetite for risk.
Latest global lockdowns delay fuel demand recovery.

Published 08 Jan, 2021 07:23pm

Forex

Bitcoin on record-setting spree, jumps 5pc on day

The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange before bouncing back. Rival cryptocurrency ethereum rose 3% after sinking more than 10%.
We are seeing a continued demand spike driven largely by sustained and unprecedented institutional interest.

Published 08 Jan, 2021 07:21pm

Europe

Coronavirus variants, first found in UK and South Africa, spread worldwide

AUSTRALIA has found several cases of the variant first identified in Britain and has also found at least one case of the variant found in South Africa.
PAKISTAN health officials said the variant found in Britain had been detected in the southern province of Sindh.

Published 08 Jan, 2021 07:18pm

Money & Banking

OCBC's Wong to be first woman CEO of Singapore bank

Wong, 59, will become the first woman to head a Singapore bank and among the few to lead an Asian bank. The appointment is effective April 15.
Kevin Kwek, senior analyst at Sanford C. Bernstein, said that given Wong's China experience, he expects OCBC.

Published 08 Jan, 2021 07:14pm

Middle East

Iran's Revolutionary Guards reveal new missile base, state media reports

The Chief of the Iranian Revolutionary Guard Corps revealed a new underground base, host to high-accuracy missiles with a range of hundreds of kilometers.
Salami claimed that the missiles deployed at the base had a range of "hundreds of kilometers," while also being accurate and capable in handling hostile electronic warfare measures.

Updated 08 Jan, 2021 07:17pm

Stocks

Shares soar on hopes of global recovery, US stimulus

Nikkei hits 30-year high.
Hopes for vaccines, US stimulus turbocharge sentiment.
Chinese telcos lose $5.6 bln in value after index drop.
Bitcoin touches fresh all-time high.
Investors await US non-farm payrolls data.
Dollar rises on recovery expectations.
10-year Treasury yields hit highest since March.

Published 08 Jan, 2021 07:11pm

Europe

Swiss expect gradual improvement in job market during 2021

Companies almost immediately stopped hiring last March after the first government restrictions, triggering a rise in unemployment throughout the year.
"Short-time working has allowed companies to deal with the crisis and make plans for the future," he told a news conference in Bern.

Published 08 Jan, 2021 07:08pm

Money & Banking

Indonesia sets new rules on payments systems

Filianingsih Hendarta, the head of Bank Indonesia's payment systems department, said the new regulation.
Non-bank payment infrastructure companies must be at least 80% Indonesian-owned, it said.

Published 08 Jan, 2021 07:06pm

Commodities

Asia Gold-Stronger yuan pushes China discounts to 7-month low

India premiums ease to $1.5/oz vs last week's $2.5/oz.
Buyers waiting for a price correction -Indian wholesaler.
Spot gold prices hit 2-month high this week.

Published 08 Jan, 2021 07:04pm

South Asia

Tanzania's president asks China to forgive some outstanding debts

Magufuli said he had presented the request to visiting Chinese Foreign Minister Wang Yi.
He will get our request to China so that they can see how they can forgive our debts because according to their concession laws it is very difficult to forgive debts.

Published 08 Jan, 2021 07:01pm

Financial

China bond market regulator warns Haitong over violations

The breaches by the companies, which also include brokerage Haitong Futures and Shanghai Haitong Securities Asset Management Co.

Published 08 Jan, 2021 06:59pm

South Asia

Bird flu outbreak dents chicken sales in India, hits farmers

Broiler chicken prices have fallen to 60 rupees ($0.8192) a kg from around 90 rupees a week ago.
The industry might see some temporary disruption, but we don't see this to be a long term phenomenon and this might correct itself in a period of 15-20 days.

Published 08 Jan, 2021 06:57pm

Europe

Britain approves Moderna's COVID-19 vaccine for use

Three COVID-19 vaccines have now been approved for use in Britain, with Pfizer/BioNTech's shot and one developed by Oxford University and AstraZeneca already being rolled out.
We have already vaccinated nearly 1.5 million people across the UK and Moderna's vaccine will allow us to accelerate our vaccination programme

Published 08 Jan, 2021 06:54pm

Companies

Glencore in final-stage talks over Mopani stake sale to Zambia

Zambian state radio ZNBC earlier reported the government had concluded talks with Glencore, citing President Edgar Lungu.
The report did not give details about the outcome of the negotiations, but said a deal was likely to be signed next week.

Published 08 Jan, 2021 06:49pm

Forex

Dollar holds above 2018 lows ahead of US jobs report

The greenback bounced off a nearly three-year low on Thursday as a rise in US yields triggered some unwinding of bearish bets on the currency.
I think once this euphoria dies down, the dollar is likely to resume its downtrend trend, because I don't think the Fed will be so eager to taper.

Published 08 Jan, 2021 06:48pm

Companies

Boeing to pay $2.5bn to settle US criminal probe into 737 MAX crashes

The settlement, which allows Boeing to avoid prosecution, includes a fine of $243.6 million.
Boeing said it would take a $743.6 million charge against its fourth-quarter 2020 earnings to reflect the deferred prosecution agreement.

Published 08 Jan, 2021 06:44pm

Europe

EU paves way for more Pfizer vaccine shots after extra dose allowed

EU countries started inoculating people with the Pfizer-BioNTech vaccine two weeks ago.
Shot's conditional approval under an authorisation which allows five doses to be extracted from each vial.

Published 08 Jan, 2021 06:43pm

USA

Top US House Democrat says House prepared to impeach Trump

Donald Trump needs to be removed from office and we are going to proceed with every tool that we have to make sure that that happens to protect our democracy.
We will move forward with impeachment.

Published 08 Jan, 2021 06:40pm

Companies

European watchdog could decide on AstraZeneca vaccine by end-Jan

The Astrazeneca shot, which was developed with Oxford University, was given a green light by authorities in Britain on Dec. 30.
It has so far recommended the Pfizer-BioNtech and Moderna vaccines for European Union approval, which was quickly granted for both.

Published 08 Jan, 2021 06:38pm

Sports

FIFA to trial concussion substitutes at Club World Cup

The decision comes after the game's rule-making body IFAB gave the go-ahead to additional trials last month.
England's Premier League are hoping to introduce concussion substitutes later this month.

Published 08 Jan, 2021 06:35pm

Europe

Power struggle leaves UN rights body without leader

Geopolitical stand-off at UN rights council.
Body cannot agree on leader amid messy contest.
Key year for council with possible US return, reforms.

Published 08 Jan, 2021 06:32pm

Commodities

Gold buckles under firmer dollar, bond yields ahead of payroll data

Silver falls as much as 3.6%
Dollar hits an over one-week peak

Published 08 Jan, 2021 06:31pm

Industry

India's TCS reports higher profit as remote work drives cloud demand

The results kick off India's corporate earnings season for the December-quarter, a seasonally weak period for the software industry.
Growing demand for core transformation services ... have driven a powerful momentum that helped us overcome seasonal headwinds.

Published 08 Jan, 2021 06:28pm

South Asia

China should maintain modest economic support in 2021, says IMF

The world's second-largest economy is likely to grow 7.9% in 2021, accelerating from expected 1.9% growth in 2020.
China should keep "moderately supportive fiscal and monetary policies until the recovery is on solid ground," the IMF said.

Published 08 Jan, 2021 06:26pm

Europe

EU gives go ahead to extract more shots from each Pfizer vaccine vial

EU countries started inoculating people with the Pfizer-BioNTech vaccine two weeks ago.
EMA's human medicines committee (CHMP) has recommended updating the product information for Comirnaty to clarify that each vial contains six doses of the vaccine.

Published 08 Jan, 2021 06:24pm

Stocks

Wall Street cautious on 'frothy' stocks, warn bitcoin bubble

BofA's latest weekly fund flow data on Friday reflected some of that sentiment with investors storming into money markets and gold funds while pulling some money out of emerging markets.
Still, US stocks stood out with $10 billion inflows.

Published 08 Jan, 2021 06:22pm

Industry

Italy court dismisses Iliad's request to scrap Fastweb-Wind Tre 5G deal

Iliad, Italy's fourth-largest mobile phone player, filed a complaint a year ago, saying the deal - which received the green light by both the industry minister.
The court argued Iliad did not have the right to ask the annulment of a commercial agreement between two private companies.

Published 08 Jan, 2021 06:20pm

Europe

Sweden registers 7,187 new COVID-19 cases, 171 deaths

The country registered 171 new deaths, taking the total to 9,433. The deaths registered have typically occurred over several days and sometimes weeks.
The health agency has said statistics over the Christmas period are less reliable than usual because fewer tests are carried out and due to delays in reporting of deaths.

Published 08 Jan, 2021 06:18pm

Companies

Chip shortage forces Nissan to cut Note compact car production

Chip shortage hitting carmakers as demand rebounds.
Honda also says it may be affected by chip shortage.
Fire at a chip plant in Oct also hit supplies in Japan.

Published 08 Jan, 2021 06:16pm

Companies

Britain approves Moderna's COVID-19 vaccine for use

Three COVID-19 vaccines have now been approved for use in Britain, with Pfizer//BioNTech's shot and one developed by Oxford University and AstraZeneca already being rolled out.
Moderna's vaccine was 94% effective in preventing disease in late-stage clinical trials.

Published 08 Jan, 2021 06:00pm

Technology

UK's competition watchdog to probe Google's browser changes

The investigation will assess whether the proposals could cause advertising spend to become even more concentrated on Google's ecosystem at the expense of its competitors.

Published 08 Jan, 2021 05:59pm

Energy

Thailand's IRPC plans to shut refining units in Jan-Feb

Its No. 1 Atmospheric Distillation Unit (ADU), with a capacity of 65,000 barrels per day, will be shut for 13 days in January while the No. 2 150,000-bpd ADU will shut in February for 10 days.

Published 08 Jan, 2021 05:57pm

Commodities

Gold buckles under firmer dollar and yields, US jobs data in focus

Silver falls as much as 3.6%
Dollar hits an over one-week peak

Published 08 Jan, 2021 05:56pm

Stocks

IT stocks lift Indian shares to record closing highs ahead of TCS results

The blue-chip NSE Nifty 50 index closed up 1.48% at 14,347.25 and the benchmark S&P BSE Sensex gained 1.43% to 48,782.51.
Aiding sentiment, global markets soared to record highs on hopes of an economic recovery later in the year.

Published 08 Jan, 2021 05:54pm

Energy

Oil set for weekly gain on Saudi output cut pledge

Brent, WTI set for weekly gains of about 6%.
Rally in global equities also feeds appetite for risk.
Latest global lockdowns delay fuel demand recovery.

Published 08 Jan, 2021 05:53pm

Europe

EU says it has secured nearly half of Pfizer's 2021 global output of COVID shots

Pfizer has said it can produce up to 1.3 billion doses around the world this year.
We now have agreed with BioNTech and Pfizer to extend this contract. With the new agreement we could purchase a total of up to an additional 300 million doses of the BioNTech vaccine.

Published 08 Jan, 2021 05:51pm

Commodities

Palm oil climbs for fourth week on hopes of December supply squeeze

Palm logs 6% weekly rise, up for fourth straight week.
Market awaiting fresh data for catalyst -analyst.

Published 08 Jan, 2021 05:49pm

Sports

Halep ready for 'mentally hard' quarantine at Australian Open

The 29-year-old Wimbledon champion had an eventful 2020 season in which she ran up a 17-match winning streak.
The start to her 2021 campaign will involve the long journey to Australia in mid-January before two weeks in quarantine ahead of the start of the year's first Grand Slam on Feb. 8.

Published 08 Jan, 2021 05:48pm

Money & Banking

Commerzbank to write off 1.5bn euros in goodwill, increases risk provisions

The charges will be taken for the 2020 financial year, the bank said. They suggest the bank will post a larger loss than analysts had been expecting.
The bank said that the goodwill writedown was "due to deteriorating market parameters," including low interest rates in the euro area and Poland.

Published 08 Jan, 2021 05:46pm

Money & Banking

China central bank will prioritize monetary policy stability in 2021

The bank said on Wednesday it would make its monetary policy flexible, targeted and appropriate in 2021.
The central bank has rolled out a raft of measures, including cuts in interest rates and reserve ratios since early-2020 to support the virus-hit economy.

Published 08 Jan, 2021 05:44pm

Commodities

South Korea's MFG passes in 65,000 tonne feed wheat inquiry

The wheat was sought for May/June shipment.
The MFG was seeking to buy at around $275 a tonne c&f which was too low compared to selling offers around $290 to $295 a tonne c&f, traders said.

Published 08 Jan, 2021 05:41pm

Sports

PCB announces PSL 2021 schedule

The 30-day 34-match tournament will culminate with the final at the Gaddafi Stadium in Lahore on 22 March, marking the first time the venue will stage the final since 2017.
Decision on crowd attendances to be made closer to time after seeking government advice and clearance.

Published 08 Jan, 2021 05:37pm

Europe

England and Scotland to require travellers to show negative COVID tests

Test result requirements to start next week
Quarantine rules for travellers remain in place
Authorities worried about new COVID variants
Airlines say test rules must be temporary
Heathrow hopes tests can replace quarantine rule.

Published 08 Jan, 2021 05:18pm

Pakistan

Pakistan lifts all visa restrictions for Bangladesh citizens

The development was made after the meeting between Pakistan High Commissioner Imran Ahmed Siddiqui and Bangladesh's State Minister for Foreign Affairs Shahriar Alam.
"Pakistan has already removed all restrictions on Pakistani visa for Bangladeshi citizens,” said a statement issued after the meeting.

Updated 08 Jan, 2021 05:30pm

Pakistan

ATC sentences Zakiur Rehman Lakhvi to 15 years in prison

The verdict stated that Lakhvi will face six-month imprisonment over failure to pay fine.
Lakhvi was accused of running a dispensary in Lahore as a front for financing militant activities.

Updated 08 Jan, 2021 05:27pm

USA

Trump moves to loosen mining regulations, approve projects as he exits

Administration officials tell Reuters they plan to publish a raft of decisions on Jan. 15 that will expand miners' access to federal lands.
The law, known as FAST-41, was intended to streamline permitting for utility projects, such as power transmission lines.

Published 08 Jan, 2021 05:14pm

Money & Banking

Credit Suisse to slide into red as it sets aside $850mn for US litigation

Credit Suisse expects Q4 loss.
Sets aside $850 mln for financial crisis legacy cases.
Writes off $450 mln hedge fund hit.
Adds $470 mln to RMBS provisions set aside in Dec.
Dividend plans unchanged.

Published 08 Jan, 2021 05:08pm

Europe

Swedish parliament grants government wider shutdown powers

Unlike most European countries, Sweden has, up to now, adopted mainly voluntary measures to limit the spread of the virus.
This is first and foremost about measures to hinder the spread of the virus, but without imposing unnecessary limits on things that can be done without risking infection.

Published 08 Jan, 2021 05:05pm

Companies

Hyundai says in early talks with Apple after electric vehicle tie-up report

Hyundai Motor shares soar 25% on Korea Economic Daily TV report.
Apple, Hyundai talks on EVs, batteries for 2027 rollout –report.
Hyundai says receiving EV project requests from various firms.
Questions over benefit for Hyundai of becoming auto 'Foxconn'.
Reuters has reported Apple eyeing car launch as soon as 2024.

Published 08 Jan, 2021 05:01pm

Europe

German vaccine purchase agreements don't affect EU contracts

Ursula von der Leyen, said earlier on Friday that member states are not allowed to negotiate separate vaccine deals with pharmaceutical companies in parallel to the efforts of the EU as a whole.

Published 08 Jan, 2021 05:00pm

Europe

Major French city of Strasbourg to have 6 pm COVID curfew

At the start of this month, France imposed an earlier curfew in 15 northeastern and southeastern departments to combat the spread of the virus.
French Prime Minister Jean Castex said on Thursday that the government was considering adding a further 10 local regions to the 6 p.m. curfew rule.

Published 08 Jan, 2021 04:58pm

Forex

Zloty, forint halt gains, focus turns to Polish central bank meeting next week

The second wave of the COVID-19 pandemic has hit Central Europe's economies hard, and some countries like the Czech Republic and Slovakia are battling a big spike in infections again.
The zloty was flat on the day to trade at 4.5185 versus the euro.

Published 08 Jan, 2021 04:56pm

Europe

Norway aims to more than triple national CO2-price by 2030

The national levy would gradually increase from around 590 crowns per tonne at present, it said when presenting its "Climate plan 2021-30".
Norway, western Europe's largest oil and gas producer, aims to cut its greenhouse gas emissions by 50-55% by 2030 compared with 1990 levels.

Published 08 Jan, 2021 04:51pm

Europe

2020 ties with 2016 as world's hottest year on record: EU climate change service

Last year rounded off hottest decade.
Concentrations of carbon dioxide continue to rise.
Arctic suffered extreme heat, depletion of sea ice.
Heatwave pushed Death Valley temperature to 54.4C.

Published 08 Jan, 2021 04:49pm

Industry

M&S clothing sales cut by British lockdown measures

Clothing and home sales down 25.1% in its third quarter.
Food sales in the quarter rise 2.2%.
M&S says near term trading "very challenging".
Says progress with turnaround masked by COVID-19 effects.
Shares down 2.3%, down 29% on year.

Published 08 Jan, 2021 04:47pm

South Asia

Indonesian clerics declare Sinovac's COVID-19 vaccine halal

Vaccination programme set to start next week.
Emergency use authorisation yet to be issued.
Indonesia records over 10,000 daily cases for first time.
Indonesia's 808,000 cases among Asia's highest.

Published 08 Jan, 2021 04:44pm

Pakistan

Pakistan-US hold consultations over strategic defence dialogue: ISPR

Issues ranging from regional security to deepening of bilateral defence and security and military to military cooperation were discussed during the day-long session, said ISPR.
The discussions were held to affirm friendly ties, both the sides exchanged views and ideas on various matters.

Published 08 Jan, 2021 04:42pm

Industry

Chile says consumer prices rose 0.3pc in December

Inflation registered an increase in the 12 months to December of 3.0%, the National Statistics Institute (INE) said.
In its December Monetary Policy Report (IPoM), the agency estimated that inflation would reach 2.8% in 2020.

Published 08 Jan, 2021 04:40pm

Europe

French ski resorts' reopening hinges on COVID situation by Jan 20

The government's decision on Jan. 20 must by guided only by the situation of the epidemic.
If we cannot open in February, we must face reality, the season is over.

Published 08 Jan, 2021 04:37pm

Companies

Zimbabwe's Kuvimba seeks $1bn for platinum, gold projects

Kuvimba was established last year and is 65% owned by the government with the balance held by management through a Mauritius-based company Quorus.
Metallon had put Shamva under care and maintenance in early 2019 because of mounting debts.

Published 08 Jan, 2021 04:34pm

Europe

EU leaders set for video summit to discuss COVID-19 on Jan 21

BRUSSELS: EU leaders are set to meet online on January 21 to discuss the bloc's efforts to counter the COVID-19...

Published 08 Jan, 2021 04:32pm

Europe

Erdogan says Gulf rapprochement ‘very beneficial’ for region

Turkey has a military base in Qatar has and supported its ally since Saudi Arabia and three other Arab states cut ties with Doha in mid-2017.
Lifting this embargo is very appropriate, especially for the Gulf. It has been very beneficial.

Published 08 Jan, 2021 04:30pm

Companies

Blackstone, Gates team up for Signature Aviation bid as Carlyle circles

Blackstone, Cascade to jointly bid for Signature Aviation.
Arrangement comes after Carlyle made takeover approach.
Shares drop 4% on the London Stock Exchange.

Published 08 Jan, 2021 04:27pm

Europe

Germany reports record COVID-19 deaths, concerns about new variant grow

Angela Merkel and state premiers agreed to restrict non-essential travel for residents of hard-hit areas all over Germany for the first time.
RKI also confirmed another 31,849 new infections, one of the highest daily tallies so far.

Published 08 Jan, 2021 04:25pm

Financial

Euro zone bond yields fall, ignoring US Treasuries

US bond borrowing costs could be headed still higher after reaching 1% this week, on expectations a Democrat-controlled Congress will have the clout to pass more fiscal stimulus.
Germany's benchmark 10-year Bund yield fell 1 basis point to -0.524%.

Published 08 Jan, 2021 04:23pm

Business & Finance

OGRA grants KE license for RLNG pipeline Construction & Operation

K-Electric had submitted an application for the same on 18 May 2020, so as to ensure the pipeline would be built in time for the commissioning of the first unit of BQPS-III.

Published 08 Jan, 2021 04:04pm

Middle East

Israeli tourists stealing from Dubai hotels: report

Israeli tourists visiting the United Arab Emirates (UAE) have been accused of stealing items from hotel rooms in Dubai.
Complaints of Israeli tourists stealing from hotels come only a month after the first commercial passenger flight from Israel to the UAE was initiated.

Updated 08 Jan, 2021 04:03pm

Pakistan

ATC sentences three to death for sharing blasphemous content on social media

Another person has been sentenced to 10 years imprisonment.
The case had been pending before the court for the past four years.

Published 08 Jan, 2021 03:32pm

Pakistan

Qureshi phones Saudi, Qatari and Bahraini counterparts, appreciates 'successful' GCC summit

“Look forward to welcoming you to Pakistan soon,” he said while congratulating Faisal bin Farhan al Saud successfully convening the Gulf Cooperation Council (GCC) Summit.
Qureshi also congratulated Qatar's Mohammed bin Abdullah al Thani for resolution of disputes and "cultivating an environment of trust and cooperation in the Gulf".

Updated 08 Jan, 2021 02:58pm

USA

U.S. transport, education secretaries quit in staff exodus after Capitol violence

“There is no mistaking the impact your rhetoric had on the situation, and it is the inflection point for me,” Elaine Chao wrote.
With less than two weeks left of Trump’s presidency, many aides were already heading for the door, making some of their resignations symbolic gestures.

Published 08 Jan, 2021 02:23pm

Companies

Pakistan's Largest Rikshaw Manufacturer Sazgar to Enter the Cars Market

Sazgar, the largest rikshaw manufacturer in Pakistan, plans on entering the cars market with four cars this year.

Published 08 Jan, 2021 02:07pm

USA

PM Khan hopes for an "evenhanded approach" for India and Pakistan, under Biden Administration

Prime Minister Imran has expressed that it would be difficult to predict the trajectory of Pakistan's relationship with the United States, under the incoming Biden Administration.
The Prime Minister added that he hoped that the new administration would opt for a more "evenhanded approach" towards India and Pakistan.

Updated 08 Jan, 2021 02:20pm

Pakistan

Pakistan to set up inter-faith harmony councils to resolve sectarian conflicts

Tahir Mahmood Ashrafi, Special Advisor to the Prime Minister on Religious Harmony and the Middle East, has mentioned that Pakistan is establishing interfaith harmony councils at the local, provincial and national level.
Pakistan is currently in the midst of heightened protests, over the killing of 11 miners from the minority Shia Hazara community in Southwestern Balochistan, on Sunday.

Updated 08 Jan, 2021 02:11pm

Pakistan

Mach massacre: PM says he will visit Quetta once Hazara protesters bury the deceased

PM Khan told Hazara protesters that they should refrain from "blackmailing the premier".
The PM said he will visit Quetta today if the Hazara community buries the victims.

Updated 08 Jan, 2021 02:08pm

Technology

realme 7i becomes customer favorite with 64MP Quad Camera and Snapdragon 662 processor

It supports Snapdragon 662 and a seamless experience for users with 8GB+128GB internal memory.
It has a 6.5-inch Ultra Smooth Display with a 90Hz refresh rate, supports an 18W Fast Charge, and a massive 5000mAh battery.

Published 08 Jan, 2021 01:58pm

Companies

Hyundai Pakistan to Boost Production by 100pc

Hyundai Pakistan plans on increasing its production capacity by 100 percent in the first quarter of the new year.

Published 08 Jan, 2021 02:03pm

Industry

Prices of Cars & Bike Number Plates Rise by 15pc in Punjab

The Punjab Excise, Taxation and Narcotics Control Department has decided to raise prices of car and bike number plates by 15% in Punjab.

Published 08 Jan, 2021 01:37pm

Technology

Facebook to pay $4.7M to Italian developer for copying its ‘Nearby’ feature

Milan-based appeals court ruled the Facebook's ‘Nearby’ feature was copied from Business Competence's Faround app.

Published 08 Jan, 2021 01:18pm

Business & Finance

PBS Survey validates sharp V-Shaped recovery in COVID: Umar

“The positive things validated by the PBS report on COVID are: very large number of households confirming that they got support from government through Ehsaas programme, secondly the sharp V shaped recovery which resulted in almost all job losses being recovered in a few months,” he said in a tweet post.

Published 08 Jan, 2021 01:00pm

Pakistan

Bahrain crown prince presents COAS Bajwa top military award for contributions in bilateral defense cooperation

The COAS and crown prince discussed matters of mutual interest, bilateral defence & security cooperation and regional security situation.
The COAS also witnessed the closing ceremony of PAK- Bahrain joint military exercise AL-BADAR-V at Sakhir Camp.

Published 08 Jan, 2021 12:45pm

Business & Finance

Long-term JGB yields rise as part of global reflation trade

Benchmark 10-year JGB futures dipped 0.04 point to 151.76, with a trading volume of 20,074 lots.

Published 08 Jan, 2021 12:14pm

USA

Four more Trump national security aides resign - sources

Four more senior advisers in the White House National Security Council have resigned following the storming of the U.S. Capitol by supporters of President Donald Trump.

Published 08 Jan, 2021 12:15pm

Commodities

Palm oil eases, but set to log fourth straight weekly rise

Palm falls for second straight day.
Palm set to log 5% weekly rise.

Published 08 Jan, 2021 12:11pm

USA

Biden names final economic team picks

Most notable was former Federal Reserve chair Janet Yellen as treasury secretary.

Published 08 Jan, 2021 12:08pm

Sports

Smith smacks 27th century as India trail Australia by 312

India negotiated a tricky nine overs before tea to be 26 without loss.
Rohit Sharma, back in the side after a long injury absence, was on 11 and Shubman Gill 14.

Published 08 Jan, 2021 12:08pm

Europe

UK virus strain triggers snap lockdown in Australia's Brisbane

More than two million residents in the Greater Brisbane area will have to stay at home for at least three days from Friday evening.

Published 08 Jan, 2021 12:01pm

South Asia

Beijing raises guard as COVID-19 cases rise in Hebei province

The total number of confirmed COVID-19 cases to date now stands at 87,331, while the death toll remained unchanged at 4,634.

Published 08 Jan, 2021 11:57am

Energy

Oil near 11-month highs on Saudi output cut pledge, equities rally

Brent, WTI set for weekly gains of about 5%.
Rally in global equities also feeds appetite for risk.

Published 08 Jan, 2021 11:57am

South Asia

In Japan, wider COVID-19 curbs heighten double-dip recession risk

Finmin Aso says there will 'no doubt' be impact on Q1 economy.
Broader curbs could prolong damage to growth beyond Q1.

Updated 08 Jan, 2021 11:56am

Business & Finance

Honda says domestic output could be affected by chip shortage

The Japanese automaker will first shrink its production by about 4,000 units this month.

Updated 08 Jan, 2021 11:54am

World

Indonesian radical cleric linked to Bali bombings released from jail

Bashir was picked up by his family and was being driven to his home in central Java, said a spokeswoman for the corrections directorate general at the law and human rights ministry.

Published 08 Jan, 2021 11:43am

Technology

After latest update, WhatsApp will now share User information with Facebook

If the user doesn’t agree to the new Terms and Privacy policy, they can no longer access the platform after February 8, 2021.

Published 08 Jan, 2021 11:23am

Stocks

US stimulus bets, semiconductor revival drive Japan stocks to 30-year high

The broader Topix rose 0.89% to 1,842.67, reaching the highest since February 2018.

Published 08 Jan, 2021 10:57am

South Asia

Beijing says Washington to pay 'heavy price' if UN ambassador goes to Taiwan

"The United States will pay a heavy price for its wrong action," a statement from the Chinese mission to the UN said.

Published 08 Jan, 2021 10:42am

Pakistan

Pakistan reports 2,435 new coronavirus cases, 48 deaths in 24 hours

Pakistan's coronavirus tally has jumped to 497,510.
The country also reported 3,313 recoveries from the novel virus.

Published 08 Jan, 2021 10:36am

Middle East

UN chief eyes virtual visit to Britain

The UN chief's itinerary will include a Sunday event marking the 75th anniversary of the first session of the United Nations General Assembly.

Published 08 Jan, 2021 10:39am

Business & Finance

Samsung Electronics forecasts 25.7pc jump in Q4 operating profit

The prediction was slightly short of analyst forecasts of 9.34 trillion won compiled by market researcher FnGuide.

Published 08 Jan, 2021 10:39am

Business & Finance

India Economy set to contract 7.7pc, biggest decline since 1952

The Indian Gross Domestic Product (GDP) will shrink by 7.7pc in the financial year ending March 2021, which is higher than the earlier 7.5pc decline forecasted forecast by the central bank of India.

Published 08 Jan, 2021 10:25am

USA

Pompeo says US not 'banana republic' after mob attacks Capitol

Bush made veiled criticism of the "reckless behavior" of members of his Republican Party in fueling the "insurrection."

Published 08 Jan, 2021 09:58am

USA

Soaring Covid-19 infections likely eroded US employment recovery

The report follows Labor Department data Thursday showing new applications for jobless benefits remained at a high level in the final week of the year.

Published 08 Jan, 2021 10:01am

Forex

Australia, NZ dollars off highs, 10-yr yields hit six-month top

Australian 10-year yields followed almost in lock step to reach 1.09%.

Published 08 Jan, 2021 09:56am

Business & Finance

Bitcoin slides more than 5pc after topping $40,000 for first time

- Bitcoin has rallied more than 700% since a low in March.
It topped $30,000 for the first time on Jan. 2, after surpassing $20,000 on Dec. 16.

Published 08 Jan, 2021 09:51am

World

Pfizer/BioNTech vaccine appears effective against mutation in new coronavirus variants: study

Dormitzer noted another mutation found in the South African variant, called the E484K mutation, is also concerning.

Published 08 Jan, 2021 09:48am

Stocks

Indian shares open higher; TCS set to kick off earnings season

The blue-chip NSE Nifty 50 index rose 0.75% to 14,243.60.
Benchmark S&P BSE Sensex climbed 0.67% to 48,417.84 by 0349 GMT.

Published 08 Jan, 2021 09:46am

Stocks

Asian stocks hit fresh records on hopes for global recovery

MSCI Asia ex-Japan +1%; Nikkei hits 30-year high.
Dollar rises on recovery expectations.

Published 08 Jan, 2021 09:42am

Business & Finance

Hyundai in early, unspecified talks with Apple; broadcaster says discussing electric vehicles

Hyundai Motor shares soar 24% on Korea Economic Daily TV report.
Hyundai says receiving EV project requests from various firms.

Published 08 Jan, 2021 09:39am

Commodities

Corn firms, poised for 5th week of gains on tightening supplies

Corn up more than 18% in 5 weeks on LatAm supply woes.
Chicago soybean futures rise, trade near 6-1/3 year high.

Published 08 Jan, 2021 09:39am

Business & Finance

India's Dec retail inflation likely fell to within RBI target

Infrastructure output, which accounts for about 40% of total industrial production, contracted 2.6% in November.

Published 08 Jan, 2021 09:22am

BR Research

Fatima Fertilizer Company Limited

Fatima Fertilizer Company Limited (PSX: FATIMA) was established in 2003 as a public limited company. It was made as ...

Published 08 Jan, 2021 07:45am

BR Research

Autos and Euro-V

Pakistan is one of the most polluted countries in the world and improving air quality, especially in urban centers,...

Published 08 Jan, 2021 07:40am

BR Research

Stay short on sugar

For the past four weeks – beginning mid-December – retail sugar prices are on the rise again, inching forward...

Published 08 Jan, 2021 07:35am

BR Research

Oil production: Saudi surprise

The oil price bull rally seems to have found firm feet, having earlier threatened to stutter. The unprecedented Opec...

Published 08 Jan, 2021 07:30am

BR Research

Managing credit guarantee schemes for SMEs

Lately, the SBP has been pushing banks to enhance financing extended to SMEs. But banks are not ready to take risk...

Published 08 Jan, 2021 07:25am

Pakistan closely following developments: FO

ISLAMABAD: Pakistan said Thursday that it is closely following the developments in Washington DC, and hoped that the...

Updated 08 Jan, 2021 03:59am

Supply of electricity, gas: Cell established to process requests for concessionary tariff

KARACHI: The Federal Board of Revenue (FBR) has established an Export-Oriented Sectors Registration Cell (ESRC) to...

Updated 08 Jan, 2021 03:59am

‘True’ potential of exports discovered thru mapping effort

ISLAMABAD: The Apex Committee on Economic Outreach has been informed that an extensive mapping exercise about export...

Updated 08 Jan, 2021 03:58am

Pakistan

Axle Load Policy: CPEC panel for resolving issue of impediments in implementation

ISLAMABAD: Parlia-mentary Committee on the China-Pakistan Economic Corridor (CPEC) has recommended that the Ministry...

Updated 08 Jan, 2021 03:52am

Pakistan

Pakistan reports 2,482 new cases of Covid-19

ISLAMABAD: Pakistan has reported 2,482 new cases of Covid-19 and 50 deaths over the past 24 hours. According to the...

Updated 08 Jan, 2021 03:52am

Pakistan

Covid-19 claims 17 more lives, infects 1,265 others: Murad

KARACHI: As many as 17 more patients of coronavirus died overnight lifting the death toll to 3,670 and 1,265 new...

Updated 08 Jan, 2021 03:52am

Technology

Tech titans Alibaba, Tencent dive in Hong Kong on US ban fears

HONG KONG: Shares in China's two biggest companies Alibaba and Tencent tumbled in Hong Kong on Thursday in response...

Updated 08 Jan, 2021 03:47am

Technology

PTCL signs partnership agreement with Avaya Holdings Corp

ISLAMABAD: The Pakistan Telecommunication Company Limited (PTCL) and Avaya Holdings Corp (NYSE: AVYA) have signed a...

Updated 08 Jan, 2021 03:47am

World

Tesla CEO Elon Musk now world’s wealthiest person

NEW YORK: Elon Musk, the outspoken and envelope-pushing chief executive of Tesla, overtook Amazon boss Jeff Bezos to...

Updated 08 Jan, 2021 03:47am

Pakistan

LHC suspends order of Ombudsperson

LAHORE: The Lahore High Court on Thursday suspended an order of Ombudsperson appointing a local commission in a...

Updated 08 Jan, 2021 03:45am

Money & Banking

Digital financial services: SBP chief chairs third stakeholders’ meeting

KARACHI: The State Bank of Pakistan (SBP) organised the third nationwide Stakeholders’ meeting on digital ...

Updated 08 Jan, 2021 03:44am

Pakistan

Country moving towards development, prosperity: CM

LAHORE: Chief Minister Sardar Usman Buzdar has said the country is moving towards development and prosperity as the...

Updated 08 Jan, 2021 03:44am

Pakistan

KMC directed to submit list of shops built against original plan

KARACHI: Administrator Karachi Laeeq Ahmed on Thursday directed the State department KMC to submit report on number...

Updated 08 Jan, 2021 03:44am

Pakistan

Marshalling yard at Wazir Mansion may prove to be incredibly auspicious

KARACHI: The establishment of a marshalling yard at Wazir Mansion railway station will be proved immeasurably...

Updated 08 Jan, 2021 03:44am

UK women’s cricket team to make ‘historic’ trip

LONDON: England Women will tour Pakistan for the first time in October, joining the men's side in an unprecedented...

Updated 08 Jan, 2021 03:43am

NAB-FBI MoU: IHC issues notices to federation

ISLAMABAD: The Islamabad High Court (IHC) on Thursday issued notices to the federation in a petition filed against a...

Updated 08 Jan, 2021 03:43am

Technology

OPPO gears up to launch Reno5 in Pakistan

LAHORE: Global smartphone brand, OPPO, has been a pioneer in the smartphone sector. The brand is constantly bringing...

Updated 08 Jan, 2021 03:43am

Sports

Pakistan Cricket Cup from today

LAHORE: Following the completion of first-class Quaid-e-Azam Trophy, which produced high-quality red-ball action, ...

Updated 08 Jan, 2021 03:43am

Sports

England women's cricket team touring in October

LAHORE: Pakistan Cricket Board (PCB) on Thursday announced England women's national cricket team will tour Pakistan...

Updated 08 Jan, 2021 03:43am

Pakistan

Daniel Pearl murder case: Accused request SC to clarify release order

ISLAMABAD: The accused allegedly involved in the murder of Daniel Pearl prayed before the Supreme Court to clarify...

Updated 08 Jan, 2021 03:43am

French IT firm Atos makes $10bn DXC bid approach

LONDON: France's Atos has made a more than $10 billion bid approach for US rival DXC Technology in what would be the...

Updated 08 Jan, 2021 03:42am

Pakistan

Uzair Baloch gets clean chit in two cases

KARACHI: An anti-terrorism court (ATC) on Thursday acquitted Lyari gangster Uzair Baloch in two criminal cases for...

Updated 08 Jan, 2021 03:42am

Pakistan

NAB's request for non-bailable arrest warrant for Abbasi turned down

ISLAMABAD: The Accountability Court on Thursday turned down the National Accountability Bureau (NAB)'s request to...

Updated 08 Jan, 2021 03:42am

Pakistan

'Corona vaccine to become available in Pakistan very soon'

LAHORE: Corona vaccine shall become available through a uniform policy in Pakistan very soon. This was stated by...

Updated 08 Jan, 2021 03:42am

Pakistan

Hazara coal miners: Protesters demand action against killers

ISLAMABAD: The activists of civil society and Majlis-e-Wahdatul Muslimeen (MWM) on Thursday continued to mount...

Updated 08 Jan, 2021 03:42am

Pakistan

The Weather

KARACHI: The weather report on Thursday (January 7, 2020) and the forecast for Friday (January 8, 2021)....

Updated 08 Jan, 2021 03:42am

US businesses condemn Capitol ‘chaos’

WASHINGTON: Major US corporations and businesses groups on Wednesday condemned the occupation of the US Capitol by...

Updated 08 Jan, 2021 03:42am

Sports

Shanghai builds $900m hub in push to be eSports leader

SHANGHAI: China has begun building a $900 million facility it hopes will be the envy of eSports and seal its push to...

Updated 08 Jan, 2021 03:37am

Industry

SCCI, PIA to sign MoU soon to facilitate business community

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) and a team of Pakistan International Airline (PIA)...

Updated 08 Jan, 2021 03:32am

Business & Finance

Pakistan, Hungary for accelerating bilateral trade, investment

LAHORE: Pakistan is one of the important trade partners of Hungary and both the countries have the ability to ...

Updated 08 Jan, 2021 03:32am

Business & Finance

Virus impact keeps eurozone inflation negative

BRUSSELS: Eurozone inflation remains doggedly negative, the latest official data showed Thursday, the fifth straight...

Updated 08 Jan, 2021 03:32am

Business & Finance

Canada trade deficit narrows to Can$3.3 billion

OTTAWA: Canada's trade deficit narrowed to Can$3.3 billion (US$2.6 billion) in November, as demand for gold from the...

Updated 08 Jan, 2021 03:32am

Industry

Pakistan, Turkmenistan agree to increase bilateral trade

ISLAMABAD: The Ambassador of Turkmenistan to Pakistan Atadjan Movlamov called on Abdul Razak Dawood, Advisor to the...

Updated 08 Jan, 2021 03:31am

Editorials

The population bomb

EDITORIAL: That about four percent of all newborns that came into the world on New Year’s Day were born in ...

Updated 08 Jan, 2021 03:30am

Opinion

FATF: challenges & solutions — I

“Since June 2018, when Pakistan made a high-level political commitment to work with the Financial Action Task ...

Updated 08 Jan, 2021 03:29am

World

Ignore us at your peril, protesting India farmers warn govt

KUNDLI, (India): Shouting anti-government slogans as they sat astride their tractors, thousands of farmers clogged ...

Updated 08 Jan, 2021 03:29am

World

Pro-Brexit lobby group migrates its website to Europe

DUBLIN: Pro-Brexit campaign group Leave.EU has migrated the registered office of its website to Ireland to maintain ...

Updated 08 Jan, 2021 03:29am

Opinion

Economic recovery with high risks

‘This edition of Global Economic Prospects makes clear, policymakers face formidable challenges – in public...

Updated 08 Jan, 2021 03:29am

Opinion

How security failures enabled Trump mob to storm US Capitol

The bloody chaos inside the US Capitol on Wednesday came after the police force that protects the legislative ...

Updated 08 Jan, 2021 03:28am

Letters

‘Raising a smart public sector’

This is apropos a Business Recorder op-ed ‘Raising a smart public sector’ carried by the newspaper on Wednesday....

Updated 08 Jan, 2021 03:28am

Cost of Nai Gaj Dam jumps to Rs47.723bn

KARACHI: The cost of Nai Gaj Dam in District Dadu, Sindh, has jumped to Rs47.723 billion from Rs26.236 billion,...

Updated 08 Jan, 2021 03:28am

Transshipment of containers and bulk cargo: Shipping lines required to submit indemnity bond

ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for the shipping lines engaged in the business ...

Updated 08 Jan, 2021 03:28am

Pensions will be made through bank account: FD

ISLAMABAD: The Finance Division has instructed that payment of pension will be made to the pensioners through a bank...

Updated 08 Jan, 2021 03:27am

Increase in age of civil servants: SC sets aside PHC judgement

ISLAMABAD: The Supreme Court on Thursday set aside the Peshawar High Court’s (PHC’s) judgment on increase in the...

Updated 08 Jan, 2021 03:26am

MoF asks depts to clear over Rs1trn liabilities

ISLAMABAD: Ministry of Finance (MoF) has reportedly asked NHA, Power Division, NTDC, Aviation Division and Strategic...

Updated 08 Jan, 2021 03:26am

NAB-FBI MoU to open up ‘Pandora’s box’: Mazari

ISLAMABAD: The Minister for Human Rights, Dr. Shireen Mazari has stated that a memorandum of understanding (MoU)...

Updated 08 Jan, 2021 03:25am

Money & Banking

Sterling stutters as UK negative rates speculation swirls

LONDON: Sterling held below a 2-1/2 year high on Thursday as speculation swirled that the Bank of England could ...

Updated 08 Jan, 2021 03:25am

Pakistan successfully tests flight of ‘Fatah-1’

ISLAMABAD: Pakistan on Thursday conducted a successful test flight of indigenously developed Guided Multi Launch...

Updated 08 Jan, 2021 03:25am

Money & Banking

US labour market recovery stalling; trade deficit widens sharply

WASHINGTON: The number of Americans filing first-time claims for jobless benefits unexpectedly dipped last week ...

Updated 08 Jan, 2021 03:25am

Money & Banking

Thai central bank relaxes forex rules for non-resident companies

BANGKOK: Thailand’s central bank said on Tuesday it will allow greater flexibility for non-resident companies to...

Updated 08 Jan, 2021 03:25am

Money & Banking

Dollar bounces off 2018 lows in Europe

LONDON: The dollar bounced off its lowest levels since 2018 to its highest in a week on Thursday, its gains...

Updated 08 Jan, 2021 03:25am

US Congress certifies Biden win

WASHINGTON: Hours after hundreds of President Donald Trump's supporters stormed the US Capitol in a harrowing ...

Updated 08 Jan, 2021 03:25am

Money & Banking

Turks’ hard currencies at new record

ANKARA: urkish locals’ forex and precious metals holdings rose to a new record of $235.66 billion as of Dec. 31,...

Updated 08 Jan, 2021 03:25am

Industry

Faster house-building boosts UK construction growth in December

LONDON: Britain’s construction sector extended its robust recovery from earlier COVID lockdown restrictions in...

Updated 08 Jan, 2021 03:25am

Well-being of people: PBS shares results of survey on Covid-19 impact

ISLAMABAD: A survey of Pakistan Bureau of Statistics (PBS) revealed that in Pakistan 35 percent of population which...

Updated 08 Jan, 2021 03:24am

Smart metering system: CCOE seeks deliberations on proposed design

ISLAMABAD: The Cabinet Committee on Energy (CCOE) directed the Power Division and the Ministry of Information...

Updated 08 Jan, 2021 03:24am

KE granted licence to build, operate RLNG pipeline

ISLAMABAD/KARACHI: The Oil and Gas Regulatory Authority (Ogra) on Thursday granted the K-Electric licence to...

Updated 08 Jan, 2021 03:23am

Incentives for construction sector: PM optimistic about provinces’ approach to extension

ISLAMABAD: Prime Minister Imran Khan has expressed the confidence that the provinces will try to get maximum benefit...

Updated 08 Jan, 2021 03:23am

FBR issues forfeiture of property rules

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday authorised its customs officials to freeze and forfeit assets...

Updated 08 Jan, 2021 03:22am

Rates.BR Index

PSX on positive note: BRIndex100 in green trajectory

KARACHI: Pakistan Stock Exchange on Thursday witnessed mixed trend during initial hours however closed on positive...

Updated 08 Jan, 2021 03:21am

Trade deficit widens by 32.04pc to $2.683bn in Dec

ISLAMABAD: Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 compared to $2.032...

Updated 08 Jan, 2021 03:20am

Stocks

European shares rise for second day as commodity, construction stocks gain

The pan-European STOXX 600 index advanced 0.5pc to near February 2020 highs, while London's blue-chip FTSE 100 gained 0.2pc and Germany's DAX index was up 0.6pc.

Updated 08 Jan, 2021 03:18am

Forex

Open market rates of foreign currencies

KARACHI: Open market rates of foreign currencies supplied by the Forex Association of Pakistan on Thursday (January...

Updated 08 Jan, 2021 03:18am

Forex

Currency values in terms of Special Drawing Rights

WASHINGTON: The International Monetary Fund (IMF), treasuries' department's currency values in terms of Special...

Updated 08 Jan, 2021 03:18am

Rates.LIBOR

LIBOR interbank offered rates

LONDON: London Interbank Offered Rates (LIBOR) on Thursday

Updated 08 Jan, 2021 03:18am

Rates.KIBOR

Kibor interbank offered rates

KARACHI: Kibor interbank offered rates on Thursday

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU Managed Growth Fund Rates

KARACHI: EFU Managed Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU Pension Growth Fund Rates

KARACHI: EFU Pension Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU Capital Growth Fund Rates

KARACHI: EFU Capital Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU Aitemad Growth Fund Rates

KARACHI: EFU Aitemad Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Thursday (January 7, 2020). ======================== Offer Price 1,493.4008...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU GUARANTEED GROWTH FUND RATES

KARACHI: EFU Guaranteed Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU TAKAFUL GROWTH FUND RATES

KARACHI: EFU Takaful Growth Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU TAKAFUL AGGRESSIVE FUND RATES

KARACHI: EFU Takaful Aggressive Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Rates.EFU

EFU TAKAFUL CONSERVATIVE FUND RATES

KARACHI: EFU Takaful Conservative Fund Rates on Thursday (January 7, 2020). ======================== Offer Price...

Updated 08 Jan, 2021 03:18am

Stocks

Dates of Closure of Books & Annual General Meetings

KARACHI: Dates of Closure of Books and holding of Ordinary and Extra-Ordinary General Meetings of companies listed ...

Updated 08 Jan, 2021 03:18am

Rates.PSX

Clearing Schedule for T+2 System

KARACHI: Pakistan Stock Exchange's Clearing Schedule for T+2 System....

Updated 08 Jan, 2021 03:18am

Rates.PSX

Proposed right issues

KARACHI: Right issues proposed by companies listed on Pakistan Stock Exchange....

Updated 08 Jan, 2021 03:18am

Stocks

Last date of renunciation/payment

KARACHI: Last dates of renunciation/payment....

Updated 08 Jan, 2021 03:18am

Rates.PSX

Dividend/Bonus Announcements

KARACHI: Dividend/Bonus announcements by the companies listed on the Pakistan Stock Exchange....

Updated 08 Jan, 2021 03:18am

Rates.PSX

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....

Updated 08 Jan, 2021 03:18am

Rates.BR Index

BRIndex100 and BR Sectoral Indices

KARACHI: BRIndex100 and BR Sectoral Indices on Thursday (January 7, 2020). ==================================== BR...

Updated 08 Jan, 2021 03:18am

Stocks

Electronic/credit of dividend warrants/bonus/right share certificates

KARACHI: Electronic/credit of dividend warrants/bonus/right share certificates....

Updated 08 Jan, 2021 03:18am

Rates

Revised Rates of Debt Securities

KARACHI: The following were the revised rates of debt securities on Thursday (January 7, 2020)....

Updated 08 Jan, 2021 03:18am

Rates.The Rupee

THE RUPEE: Gains recorded against USD

KARACHI: On Thursday, after markets closed, Pakistan Rupee recorded gains against US Dollar in both interbank and...

Updated 08 Jan, 2021 03:18am

Forex

Kerb buying and selling rate of US dollar

KARACHI: Dollar buying and selling rate in the kerb market in rupees on Thursday (January 7, 2020)....

Updated 08 Jan, 2021 03:18am

Rates.Pakistan Economic Indicators

Pakistan Economic Indicators

KARACHI: Pakistan Economic Indicators - Thursday (January 7, 2020)....

Updated 08 Jan, 2021 03:18am

Forex

Dollar's rate in interbank market

KARACHI: Interbank closing rates for dollar on Thursday (January 7, 2020). ======================== Bid Rate...

Updated 08 Jan, 2021 03:18am

Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 7, 2020)....

Updated 08 Jan, 2021 03:18am

Commodities

Pakistan Mercantile Exchange - PMEX

ISLAMABAD: Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary...

Updated 08 Jan, 2021 03:18am

Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Thursday (January 7, 2020). ======================================= Offset...

Updated 08 Jan, 2021 03:18am

Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Thursday (January 7, 2020)...

Updated 08 Jan, 2021 03:18am

Rates.LME

LME official prices

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

Updated 08 Jan, 2021 03:17am

Currency	Rate
USD PKR Interbank Selling / Jun 23	278.41
USD PKR Interbank Buying / Jun 23	278.21
USD to Japanese Yen / Jun 24	161.63
USD to Swiss Franc / Jun 24	0.81
Pound Sterling to USD / Jun 24	1.32
Euro to USD / Jun 24	1.14
SOFR % / Jun 23	3.62

Stock	Volume
S&P 500 / Jun 23	7,365.46
Nasdaq / Jun 23	25,587.04
Dow Jones / Jun 23	51,666.84
India Sensex / Jun 24	76,940.11
Tokyo Nikkei / Jun 24	69,523.79
Hang Seng / Jun 24	23,277.20
FTSE 100 / Jun 24	10,427.32
Germany DAX 30 / Jun 24	24,651.10
France CAC40 / Jun 24	8,352.58

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 23	18,580
Gold 10 Grams PKR / Jun 23	368,985
Crude Oil USD/Barrel / Jun 24	72.83
Gold Spot USD/Ounce / Jun 24	4,088.29
Cotton US¢/pound / Jun 24	78.45
Petrol/Litre / Jun 25	299.50
Diesel/Litre / Jun 25	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)	10.07 ▲ 1 (11.03%)
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
Int. Knit. / Jun 24 International Knitwear Limited(INKL)	100.24 ▼ -11.14 (-10%)
First Fid. Leasing / Jun 24 First Fidelity Leasing Modaraba(FFLM)	22.28 ▼ -2.47 (-9.98%)
NIT PakistanXD / Jun 24 NIT Pakistan Gateway ETF(NITGETF)	37.25 ▼ -3.75 (-9.15%)
Aruj Industries / Jun 24 Aruj Industries Limited(ARUJ)	10.89 ▼ -1.05 (-8.79%)
Shams Textile / Jun 24 Shams Textile Mills Limited(STML)	42.02 ▼ -3.28 (-7.24%)
Ellcot Spinning / Jun 24 Ellcot Spinning Mills Limited(ELSM)	112.35 ▼ -7.69 (-6.41%)
Imperial Limited / Jun 24 Imperial Limited(IML)	23.60 ▼ -1.42 (-5.68%)
Pakgen Power / Jun 24 Pakgen Power Limited(PKGP)	44.40 ▼ -2.45 (-5.23%)
National Silk / Jun 24 The National Silk & Rayon Mills Limited(NSRM)	193.20 ▼ -9.8 (-4.83%)
Arctic Textile / Jun 24 Arctic Textile Mills Limited(ARCTM)	37.30 ▼ -1.76 (-4.51%)

Stock	Volume
K-Electric Ltd. / Jun 24 K-Electric Limited(KEL)	65,391,815 ▲ 0.14
Pak Int.Bulk / Jun 24 Pakistan International Bulk Terminal(PIBTL)	65,127,482 ▲ 1.05
WorldCall Telecom / Jun 24 Worldcall Telecom Limited(WTL)	28,923,572 ▲ 0.02
Pak Elektron / Jun 24 Pak Elektron Limited(PAEL)	24,084,263 ▲ 0.95
The Organic Meat / Jun 24 The Organic Meat Company Limited(TOMCL)	16,472,450 ▲ 3.04
Kohinoor Spinning / Jun 24 Kohinoor Spinning Mills Limited(KOSM)	16,229,050 ▲ 0.17
Sui South Gas / Jun 24 Sui Southern Gas Company Limited(SSGC)	15,726,000 ▼ -0.9
Maple Leaf Cement / Jun 24 Maple Leaf Cement Factory Limited(MLCF)	15,621,137 ▲ 2.35
B.O.Punjab / Jun 24 The Bank of Punjab(BOP)	15,593,429 ▲ 0.29
PIA Holding Co.Ltd / Jun 24 PIA Holding Company Limited(PIAHCLA)	14,212,504 ▲ 1.17