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Archive - 2021-01-13
Imran Khan beats Virat Kohli in ICC poll
Sports

Imran Khan beats Virat Kohli in ICC poll

  • A poll conducted by International Cricket Council (ICC) on their Twitter page, where it asked the best captain among Khan, Kohli, South Africa's Ab de Villiers and Australia's Meg Lanning.
  • As many as 536, 346 votes were casted, which the former Pakistan captain won by bagging 47.3 per cent of the votes.
Updated 14 Jan, 2021 01:43pm
Kuwait's cabinet submits resignation in standoff with parliament
Middle East

Kuwait's cabinet submits resignation in standoff with parliament

  • It complicates government efforts to tackle the OPEC state's deepest economic crisis in decades, caused by low oil prices and the coronavirus crisis.
  • It was not immediately clear if the emir, who has the final say in matters of state, would accept the cabinet's resignation.
Updated 13 Jan, 2021 11:18pm
Indian automaker Mahindra cuts over half of North America workforce
Companies

Indian automaker Mahindra cuts over half of North America workforce

  • The sources did not give a figure for the number of jobs lost at the business, which had over 500 employees in early 2020.
  • The cuts come as Mahindra reviews its businesses in a drive to conserve capital and retain only those that make money or have the potential to be profitable.
Updated 13 Jan, 2021 11:17pm
Wall St flat as stimulus rally cools; Intel shines
Stocks

Wall St flat as stimulus rally cools; Intel shines

  • Intel jumps on replacing CEO Bob Swan.
  • Exxon rises on J.P. Morgan upgrade to "overweight".
  • Regeneron up as US govt orders more COVID-19 therapy doses.
  • Indexes: Dow and S&P down 0.13%, Nasdaq flat.
Published 13 Jan, 2021 09:23pm
Israel launches major air strikes on Iran-linked targets in Syria
South Asia

Israel launches major air strikes on Iran-linked targets in Syria

  • Two residents in the regional capital Deir al Zor City told Reuters they could hear the distant sound of huge explosions.
  • Israel's Defence Force Chief of Staff Aviv Kochavi said last month that missile strikes had "slowed down Iran's entrenchment in Syria" adding they had hit more than 500 targets in 2020.
Published 13 Jan, 2021 09:20pm
Brazil's Petrobras CEO denies claims of 'predatory' fuel pricing policy
Companies

Brazil's Petrobras CEO denies claims of 'predatory' fuel pricing policy

  • Branco said in the Wednesday edition of daily Valor Econômico that the claims amount to a personal "professional offense" against him and the government's economic policymakers.
  • As graduated economists ... we learned over 40 years ago that price controls are part of a museum of ineffective weapons to fight inflation.
Published 13 Jan, 2021 09:18pm
Online therapy provider Talkspace to go public via $1.4bn SPAC deal
Technology

Online therapy provider Talkspace to go public via $1.4bn SPAC deal

  • The deal includes $300 million by way of private investment by firms including Federated Hermes Kaufmann Funds, Jennison Associates LLC, Woodline Partners LP and Deerfield.
  • he company raised $50 million in its last funding round, which was led by venture capital firm Revolution Growth.
Published 13 Jan, 2021 09:14pm
Yields slip as investors await 30-year auction
Financial

Yields slip as investors await 30-year auction

  • Investors awaiting an auction of 30-year government debt shrugged off a report showing an increase in US consumer prices in December amid rising gasoline costs.
  • In the 12 months through December the CPI advanced 1.4% after increasing 1.2% in November.
Published 13 Jan, 2021 09:10pm
US crude stockpiles drop, fuel inventories build: EIA
Energy

US crude stockpiles drop, fuel inventories build: EIA

  • Crude inventories fell by 3.2 million barrels in the week to Jan. 8 to 482.2 million barrels, compared with expectations in a Reuters poll for a 2.3 million-barrel drop.
  • I think what we're seeing here is the drawdown in supply and a big uptick in refinery runs is giving the market an idea that refiners are starting to ramp up production of products.
Published 13 Jan, 2021 09:08pm
Corn extends rally to highest since 2013; soy falls on profit taking
Commodities

Corn extends rally to highest since 2013; soy falls on profit taking

  • Soybean futures eased on profit taking after hitting their highest in 6-1/2 years, while wheat steadied as the market digested potential changes to Russian export policy.
  • The USDA's seemingly unending cuts to US G&O (grain and oilseed) supplies continued this month, and with soybean and corn stores particularly bare.
Published 13 Jan, 2021 09:06pm
Chilean central bank to buy $12bn to replenish FX reserves
Forex

Chilean central bank to buy $12bn to replenish FX reserves

  • The bank said it would take the step ahead of the closing off in mid-2022 of a flexible, $24 billion credit line extended by the IMF.
  • The board considers it prudent to initiate a process that allows it to replace the role of the FCL (flexible credit line) by gradually accumulating international reserves.
Published 13 Jan, 2021 08:52pm
Brazil's Bolsonaro says he was right to question Chinese COVID-19 vaccine
USA

Brazil's Bolsonaro says he was right to question Chinese COVID-19 vaccine

  • This 50% is good, is it? All the (criticism) I got for my comments, and now they are seeing the truth. Four months of being lambasted because of the vaccine.
  • Brazil's government closed a deal with the Butantan Institute to buy up to 100 million doses of the Chinese vaccine.
Published 13 Jan, 2021 08:41pm
Brazilian clinics to buy India's COVAXIN vaccine pending approval
USA

Brazilian clinics to buy India's COVAXIN vaccine pending approval

  • Private sector talks to acquire Bharat's COVAXIN vaccine would not interfere with the Brazilian government's efforts to acquire vaccines for the public sector.
  • Bharat Biotech said on Tuesday that it had signed an agreement with a Brazil-based pharmaceutical seller, Precisa Medicamentos, to supply the vaccine even though it has yet to be approved.
Published 13 Jan, 2021 08:24pm
Jordan buys 60,000 tonnes wheat in tender
Commodities

Jordan buys 60,000 tonnes wheat in tender

  • It was bought from trading house Cerealcom Dolj at $269.20 a tonne c&f for shipment in the first half August 2021.
  • Two other trading houses participated in the tender, CHS which offered $277.97 a tonne c&f and Ameropa which offered $284.93 a tonne c&f.
Published 13 Jan, 2021 08:22pm
Anti-polio campaign underway
Pakistan

Anti-polio campaign underway

  • About 2964 polio teams, 307 fixed health centers, allied and tehsil headquarter hospitals were fully participating in the drive, he said.
Published 13 Jan, 2021 08:20pm
China needs to innovate monetary policy tools
Money & Banking

China needs to innovate monetary policy tools

  • A prudent monetary policy must be flexible, reasonable and appropriate, adhere to the primary goal of currency stability.
  • China's M2, a broad-based measure of money supply, in December grew 10.1% from a year earlier, below estimates of 10.5% forecast.
Published 13 Jan, 2021 08:18pm
Turkish Foreign Minister Mevlut Cavusoglu meets PM Imran Khan
Pakistan

Turkish Foreign Minister Mevlut Cavusoglu meets PM Imran Khan

  • Imran Khan thanked Turkey for its steadfast support on the Jammu & Kashmir dispute and highlighted the detrimental Indian actions posing a threat to peace and security.
  • It was agreed to maintain high-level exchanges and further build Pakistan-Turkey strategic relationship to the mutual benefit of the two countries and peoples.
Published 13 Jan, 2021 08:00pm
Dropbox to layoff 11pc of workforce, COO to step down
Companies

Dropbox to layoff 11pc of workforce, COO to step down

  • Shares fell nearly 6% to $22.26 after Dropbox said Chief Operating Officer Olivia Nottebohm, who joined last year from Alphabet Inc's Google, will step down on Feb. 5.
  • Our Virtual First policy means we require fewer resources to support our in-office environment.
Published 13 Jan, 2021 08:06pm
Tech giants hope for US data privacy law
USA

Tech giants hope for US data privacy law

  • The European Union's GDPR has largely contributed to making consumers aware of the issues related to the data that they submit to large digital platforms.
Published 13 Jan, 2021 08:01pm
Brazil services sector grows 2.6pc in Nov, sixth rise in a row
USA

Brazil services sector grows 2.6pc in Nov, sixth rise in a row

  • Activities such as restaurants, hotels, family services and transport ... are recovering, but the need for social distancing means the sector has not yet returned to pre-pandemic (levels).
  • Services account for around two-thirds of Brazilian economic activity.
Published 13 Jan, 2021 07:59pm
Indian farmers burn legislation in show of defiance
South Asia

Indian farmers burn legislation in show of defiance

  • Tens of thousands of farmers have been camped on the outskirts of the capital, New Delhi, for almost two months.
  • The government led by Prime Minister Narendra Modi denies this, saying the legislation is required to reform an agricultural sector beset by waste.
Published 13 Jan, 2021 07:55pm
Qualcomm eyes challenge to Apple, Intel with $1.4b deal for chip startup
Companies

Qualcomm eyes challenge to Apple, Intel with $1.4b deal for chip startup

  • The deal marks a big push by Qualcomm to reestablish a leading position in chip performance after several years of high-profile patent licensing litigation with rival Apple and regulatory authorities.
  • It's exciting to see Nuvia join the Qualcomm team," Panos Panay, Microsoft's chief product officer.
Published 13 Jan, 2021 07:53pm
India wants Pfizer to do local study for approval
South Asia

India wants Pfizer to do local study for approval

  • As of now, the pre-condition for any vaccine to be implemented in India is that you have to do a bridging trial.
  • Paul also said Russia's Sputnik V, a shot undergoing last-stage trials in India, will soon apply for emergency-use approval in the country.
Published 13 Jan, 2021 07:36pm
Target holiday sales jump 17pc on strong online demand
Industry

Target holiday sales jump 17pc on strong online demand

  • Target's sales through Shipt same-day delivery service jumped more than 300% in the November-December period.
  • The retailer's store traffic also rose 4.3% during the holiday season as people combined their shopping trips and limited it to large retailers amid a surge in pandemic.
Published 13 Jan, 2021 07:32pm
Gold-backed ETFs end record 2020 with second month of outflows
Commodities

Gold-backed ETFs end record 2020 with second month of outflows

  • Gold is traditionally used as a safe store of wealth, and investors rushed to hoard it as the pandemic swept through the global economy.
  • ETFs grew their holdings by 876 tonnes in 2020 - equivalent to around a quarter of the annual output of the world's gold mines.
Published 13 Jan, 2021 07:26pm
London Stock Exchange gets EU nod for $27bn takeover of Refinitiv
Stocks

London Stock Exchange gets EU nod for $27bn takeover of Refinitiv

  • The European Commission, which oversees competition policy in the 27-nation European Union.
  • Infrastructure competition in trading services and access to financial data products on fair and equal terms is essential for the European economy and in particular for consumers and businesses.
Published 13 Jan, 2021 07:24pm
Mathews returns to Sri Lanka squad for England tests
Sports

Mathews returns to Sri Lanka squad for England tests

  • Batsman Dhananjaya de Silva and fast bowler Kasun Rajitha were both ruled out against England after suffering injuries in South Africa.
  • England blanked the hosts 3-0 in the test series on their last trip to Sri Lanka in 2018 but have key personnel missing from that touring party currently.
Published 13 Jan, 2021 07:18pm
Polish parliament approves offshore wind energy legislation
Europe

Polish parliament approves offshore wind energy legislation

  • The regulation is designed to make it easier for investors to seek public support over the next decade as they build wind farms in the Baltic Sea.
  • Enabling investments worth around 130 billion zlotys will help level the negative impact of the slowdown in investment brought on by the pandemic.
Published 13 Jan, 2021 07:09pm
NAB files reference against Deputy Chairman Senate
Pakistan

NAB files reference against Deputy Chairman Senate

  • As per the accountability watchdog, the Senator purchased fake shares in the name of his frontman by selling plots.
  • Along with Saleem Mandviwalla, the Bureau also nominated Ijaz Haroon, Abdul Ghani Majeed and Tariq Mehmood as offenders in the reference.
Updated 13 Jan, 2021 07:10pm
Uber appeals $59mn California fine over sexual assault data request
USA

Uber appeals $59mn California fine over sexual assault data request

  • The California Public Utilities Commission (CPUC) fined Uber in December after the company refused to share the information.
  • An anti-sexual abuse group also appealed the decision and supported Uber's "transparency and commitment to protecting survivors."
Published 13 Jan, 2021 07:04pm
Swiss boost coronavirus restrictions, shy away from full lockdown
Europe

Swiss boost coronavirus restrictions, shy away from full lockdown

  • The country also eased rules on allowing pandemic-hit businesses to apply for state financial aid in hardship cases.
  • Switzerland, which has so far taken a lighter touch to restricting business and public life, said it will close shops selling non-essential supplies from Monday.
Published 13 Jan, 2021 06:52pm
J.P. Morgan upgrades Exxon to overweight for first time in seven years
Companies

J.P. Morgan upgrades Exxon to overweight for first time in seven years

  • Morgan Stanley on Monday upgraded Exxon's rating to overweight from equal-weight, saying it preferred the company to Chevron Corp for 2021.
  • We think that improved transparency, cost-reduction actions and increased investor pressure could all serve to push XOM to put up more consistent results
Published 13 Jan, 2021 06:47pm
Google backs Biden immigration efforts, covers fees in threatened 'Dreamer' program
USA

Google backs Biden immigration efforts, covers fees in threatened 'Dreamer' program

  • Google said on Wednesday it would pay for the application fees of about 500 young immigrants seeking employment under the Deferred Action for Childhood Arrivals program.
  • A court ruling expected soon threatens to pause renewals and applications for those permits, Walker said. Recipients are often called "Dreamers."
Published 13 Jan, 2021 06:37pm
1.4mn in Madagascar need food aid due to drought, WFP says
Africa

1.4mn in Madagascar need food aid due to drought, WFP says

  • WFP said 1.35 million people, or just over a third of the south's population, will require such aid, almost twice the number that needed it in 2020.
  • The COVID-19 pandemic has added to the hardship, causing seasonal employment to dry up. Many families relied on this income to get through the lean season,
Published 13 Jan, 2021 06:35pm
IEA says oil market outlook clouded by vaccine roll-out variables
Energy

IEA says oil market outlook clouded by vaccine roll-out variables

  • Producers are grappling with huge uncertainty about where this goes from here.
  • "That's not just in terms of economic recovery but indicators we wouldn't necessarily normally be looking at: (such as the) levels of trust in different countries about vaccines."
Published 13 Jan, 2021 06:28pm
US must reverse Trump course, make human rights central
USA

US must reverse Trump course, make human rights central

  • Biden, due to take office on Jan. 20, should make human rights a cornerstone of US foreign policy, said Roth.
  • Trump has denied responsibility for the violence and previous allegations of violating human rights.
Published 13 Jan, 2021 06:25pm
Euro zone November industrial production better than expected
Industry

Euro zone November industrial production better than expected

  • The European Union's statistics office, Eurostat, said industrial output in the 19 countries sharing the euro rose 2.5% in November against October for a 0.6% year-on-year decline.
  • Industry continues to recover from the first wave, despite all of the second-wave problems that the economy is currently facing.
Published 13 Jan, 2021 06:24pm
Indebted Zambia pays $400mn in VAT refunds to mining firms
Companies

Indebted Zambia pays $400mn in VAT refunds to mining firms

  • Zambia, Africa's second-largest copper producer, is negotiating with creditors to try to get debt relief, after it defaulted on a $42.5 million coupon in November.
  • The VAT refunds to the mining sector represent 67% of the total such refunds made, Zambia Revenue Authority (ZRA) Commissioner-General Kingsley Chanda said at a media briefing.
Published 13 Jan, 2021 06:14pm
ECB's Lagarde calls for regulating Bitcoin's ‘funny business’
Forex

ECB's Lagarde calls for regulating Bitcoin's ‘funny business’

  • Bitcoin has come out of its niche in recent years and is now bought by ordinary people, investment funds and even large corporations.
  • (Bitcoin) is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity,
Published 13 Jan, 2021 06:11pm
Singapore says ramping up COVID-19 vaccination drive
South Asia

Singapore says ramping up COVID-19 vaccination drive

  • Singapore started vaccinating healthcare workers on Dec. 30, becoming one of the first Asian countries to start its coronavirus inoculation programme.
  • The nation of 5.7 million people has been reporting relatively very few local cases in recent months and fatalities are among the world's lowest
Published 13 Jan, 2021 06:08pm
German spot surges on tighter wind supply
Energy

German spot surges on tighter wind supply

  • German baseload power for Thursday climbed 51.6% to 69.75 euros ($84.94) per megawatt hour (MWh).
  • German wind power is set to plummet 23.1 gigawatts (GW) on Thursday to 13.7 GW, Refinitiv Eikon data showed.
Published 13 Jan, 2021 06:06pm
India's Infosys raises revenue forecast as demand rises
Companies

India's Infosys raises revenue forecast as demand rises

  • Larger rival Tata Consultancy Services reported higher third-quarter profit last week and forecast strong growth for the year ahead.
  • It expects annual revenue in the financial year to end-March 2021 to grow between 4.5% and 5% in constant currency terms, higher than 2% to 3% forecast earlier.
Published 13 Jan, 2021 05:48pm
Aussie De Minaur warms up for home slam with Antalya title
Sports

Aussie De Minaur warms up for home slam with Antalya title

  • De Minaur, his country's highest-ranked player at 23rd, was 2-0 up in the first set when the Kazakh pulled out.
  • "At the start of the year that's what you need," he told reporters. "I knew I had put in a great pre-season, I was ready to compete.
Published 13 Jan, 2021 05:33pm
Oman ready to host test cricket
Sports

Oman ready to host test cricket

  • The itinerary of two tests and three Twenty20 internationals has yet to be finalised and remains uncertain due to COVID-19 travel restrictions.
  • ICC accreditation has put us in an elite club of test cricket hosts and we are very proud to have reached that level.
Updated 13 Jan, 2021 05:33pm
J&J may not meet US COVID-19 vaccine supply target by spring
Companies

J&J may not meet US COVID-19 vaccine supply target by spring

  • US federal officials have been told that J&J has fallen behind its original production schedule and will not catch up until the end of April.
  • Earlier this week, J&J's chief executive officer said the company was on track to have close to a billion COVID-19 vaccine doses by 2021-end.
Published 13 Jan, 2021 04:43pm
Accountability court extends Khawaja Asif’s remand
Pakistan

Accountability court extends Khawaja Asif’s remand

  • The PML-N leader was presented before the court in Lahore today at the expiry of his 14-day remand.
  • NAB's legal representative told the court the Asif had transferred money into a company account which was owned by his servant.
Updated 13 Jan, 2021 04:29pm
Watchdogs across EU should be allowed to challenge Facebook, EU court adviser says
Europe

Watchdogs across EU should be allowed to challenge Facebook, EU court adviser says

  • The adviser to the EU’s top court has issued a recommendation to allow data protection agencies in any EU country to take legal action against Facebook or any other tech firm even if their regional headquarters are in a different EU state.
  • If the recommendation is followed, it could prompt action by national agencies in the 27-member EU against other U.S. tech companies, such as Google, Twitter and Apple, which also have their EU headquarters in Ireland.
Published 13 Jan, 2021 03:45pm
U.S. cancels U.N. envoy's trip to Taiwan, citing Biden transition
China

U.S. cancels U.N. envoy's trip to Taiwan, citing Biden transition

  • The U.S. State Department’s cancellation of all travel this week includes a planned visit to Taiwan by U.S. Ambassador to the United Nations Kelly Craft, a State Department spokeswoman said on Tuesday.
  • Secretary of State Mike Pompeo said on Tuesday that all travel this week had been canceled, including his own trip to Europe, as part of the transition to the incoming Biden administration.
Published 13 Jan, 2021 03:22pm
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