News Archives for Latest - 2021-01-15

Business & Finance

Govt approves increase in Petrol, Diesel rates

PM has approved the increase In Petrol price by Rs 3.20 per liter, the rate of diesel increased by Rs 2.95 per liter, light diesel price has been hiked by Rs 4.42 per liter, whereas, kerosene rate increased by Rs 3 per liter.

Updated 16 Jan, 2021 11:31am

World

WHO wants Covid jabs in all countries within 100 days

"I want to see vaccination under way in every country in the next 100 days so that health workers and those at high risk are protected first,"

Published 15 Jan, 2021 11:58pm

Commodities

Ukraine sees no changes in export policy after Russian wheat export tax hike

Russia, one of the world's largest wheat exporters, plans to impose a higher export tax on wheat from March 1.
Last year Ukraine's government agreed with traders that wheat exports would not exceed 17.5 million tonnes in the 2020/21 July-June season.

Updated 15 Jan, 2021 11:57pm

Pakistan

Growers seeks export of tomato, onion

Talpur said instead of helping the farmers recover the losses they had suffered previous year, the government’s policies were causing them more harm.

Published 15 Jan, 2021 11:53pm

Pakistan

Gold prices remain unchanged at Rs112,900 per tola

The price of per tola and ten gram silver also witnessed no change and was sold at Rs. 1300 and Rs. 1114.54 respectively.

Published 15 Jan, 2021 11:51pm

Pakistan

Medical professionals are national heroes: Governor Punjab

The Governor Punjab said the government was using all its resources for public welfare and was working on initiatives that would provide long term solutions to the problems.

Published 15 Jan, 2021 11:48pm

Pakistan

Bullion prices on Friday

Following were the bullion prices in Karachi on Friday.

Published 15 Jan, 2021 11:46pm

Pakistan

Gwadar Port, CPEC to promote regional connectivity, benefit Afghanistan, CARs: President

The president said the Gwadar Port would help make Pakistan the hub of transit trade in the region.

Published 15 Jan, 2021 11:44pm

Pakistan

9th to 12th grade classes to resume from Jan 18; decides NCOC

However, the NCOC would further review on January 20, whether the institutions be opened across the board or a differentiated approach be adopted from February 1.

Published 15 Jan, 2021 11:29pm

Pakistan

Promotion, development of agriculture sector govt's foremost priority: PM

The prime minister was presiding over a meeting about increasing agricultural productivity and value chains in Punjab.

Published 15 Jan, 2021 11:25pm

Pakistan

Punjab govt introducing reforms to boost agri sector: Dr. Firdous

Dr. Firdous said that provision of soft loans, water availability and E-credit card initiative for farmers would ultimately bring a revolution in the sector.

Published 15 Jan, 2021 11:23pm

Pakistan

PM Imran Khan terms new labour inspection regime as good initiative for economy

He said this while presiding over a meeting held regarding start of new labour inspection regime in Punjab here.

Published 15 Jan, 2021 11:20pm

Pakistan

Petrol price increased by Rs3.2 liter

According to notification issued by the Finance Ministry, the price of High Speed Diesel has been raised from Rs. 110.24 per liter to Rs. 113.19 per liter, an increase of Rs. 2.95 per liter.

Published 15 Jan, 2021 11:17pm

Pakistan

Governor Punjab hosts PFUJ delegates at Governor’s House

Addressing the delegates, Governor Punjab Chaudhry Mohammad Sarwar said he was privileged to host so many journalists under the ceiling of Governor's House.

Published 15 Jan, 2021 11:14pm

Pakistan

Razak for supporting SMEs sector, facilitating 'ease of doing businesses'

The office bearers and representatives of the chamber briefed the advisor on their activities and plans for support and development of the SMEs sector.

Published 15 Jan, 2021 11:11pm

Pakistan

Maryam engages media, nation with new stories to protect corruption: Babar

Maryam was organizing press conferences everyday for telling new stories to media and the nation, he stated in an interview with a private television channel.

Published 15 Jan, 2021 11:04pm

Pakistan

Indus hospital committed $4.2mn fraud in TB grant, alleges Global Fund

The procurement fraud activities committed by The Indus Hospital TB Program in Pakistan between January 2016 and December 2018, revealed in report.
The CEO of Indus Hospital, however, rejected any possibility of fraud, saying the hospital had a “strict mechanism” to utilise funds.

Updated 15 Jan, 2021 09:53pm

Commodities

Gold falls 1pc as dollar accelerates rally

Powell sees no reason to alter Fed's accommodative stance./
Platinum falls as much as 4.4%, silver down 3.8%.

Published 15 Jan, 2021 09:39pm

USA

Canada's Trudeau embraces Biden in bid to turn page on Trump era

It's very much a tradition that the Canadian prime minister and the US president meet very quickly to be able to talk about all the tremendous things that we can do together.

Published 15 Jan, 2021 09:33pm

Europe

Covid vaccine papers leaked, 'manipulated': EU regulator

The European Medicines Agency (EMA) revealed in December that it had been targeted in a major cyber attack that illegally accessed information relating to the Pfizer-BioNTech and Moderna jabs.

Published 15 Jan, 2021 09:31pm

Companies

Airlines cull South Africa routes as virus flares

A growing list of countries are limiting travel to and from South Africa since a more transmissible variant of the virus, dubbed 501Y.V2, was announced in December.
Emirates this week announced a 13-day halt on all South Africa routes for "operational reasons".

Published 15 Jan, 2021 09:28pm

Companies

Exxon probed over Permian Basin valuation: report

The Journal report, citing unnamed sources, said the Securities & Exchange Commission probe focused on unrealistic assumptions for highest-producing US oil field.
An unrealistic outlook could mislead investors and artificially boost a company's share price.

Published 15 Jan, 2021 09:24pm

Taxes

PM informed about growing construction activities

ISLAMABAD: The chairman of Federal Board of Revenue (FBR) has informed the Prime Minister that there was ...

Updated 15 Jan, 2021 09:26pm

USA

Biden taps former deputy CIA director Cohen for spy agency again

Cohen previously served as the deputy director for the Central Intelligence Agency from 2015 to 2017 under Democratic then-President Barack Obama.
Special projects on new technologies and how best to work with companies to advance the CIA's mission

Published 15 Jan, 2021 09:22pm

Industry

Retailer Truworths says half-year profit could fall by as much as 9pc

Both South Africa and the U.K. are currently amongst the worst hit coronavirus destinations, especially due to a new.
In U.K. new cases have forced the country into a more stricter third lockdown which is likely to push the world's sixth-biggest economy into a double-dip recession.

Published 15 Jan, 2021 09:15pm

Forex

Pound knocked by sour market mood, but set for weekly gain

Sterling was still on track for its best week against the euro since early April.
the pound touched an almost two-month high against the euro, after data showed Britain's economy shrank 2.6% in November.

Published 15 Jan, 2021 09:13pm

Commodities

Cocoa gains after better than expected Q4 demand data

March New York cocoa rose 1% to $2,524 a tonne.
March raw sugar fell 1.3% to 16.46 cents per lb.
March arabica coffee rose 0.8% to $1.2830 per lb.

Published 15 Jan, 2021 09:11pm

USA

US imposes fresh sanctions on Iran in final days of Trump presidency

Washington blacklisted seven entities and two individuals in sanctions related to the Islamic Republic of Iran Shipping Lines and Iranian shipping entities.

Published 15 Jan, 2021 09:09pm

Money & Banking

Romania's central bank delivers quarter-point rate cut to 1.25pc

The bank delivered three rate cuts worth 1 percentage point overall last year.
Policymakers have said maintaining confidence in Romania's currency, the leu, underpinned monetary policy in 2020 given widening budget.

Published 15 Jan, 2021 09:02pm

Africa

South Africa's Zuma snubs anti-graft panel again

Zuma, 78, has played cat-and-mouse with the commission since it was set up in 2018 to investigate looting of state coffers during his nine-year tenure.
He reappeared briefly before the commission in November to demand that the its chair, deputy chief justice Raymond Zondo recuse himself.

Updated 15 Jan, 2021 09:08pm

Middle East

Lebanese parliament approves law paving way for vaccine deal

Lebanon said in mid-December it was expecting to sign a deal for supplies of Pfizer-BioNTech's COVID-19 vaccine and hoped to receive the first batch eight weeks after that.
The law includes a clause that points to the Lebanese health ministry as the only entity responsible for compensation.

Published 15 Jan, 2021 09:00pm

Financial

Yields fall as retail sales reflect weak economy

Retail sales dropped 0.7% last month, the Commerce Department said. Data for November was revised down to show sales declining 1.4% instead of 1.1% as previously reported.
This morning's disappointing retail sales figures reinforced the idea that more stimulus will be needed.

Published 15 Jan, 2021 08:58pm

Forex

Canadian dollar slides as Chinese lockdowns weigh on sentiment

Canadian dollar falls 0.7% against the greenback.
Price of US oil decreases 1.6%.
Canadian home sales rise 7.2% in December from November.
Canadian bond yields ease across much of a flatter curve.

Published 15 Jan, 2021 08:56pm

Business & Finance

Canadian home sales soar in December to cap record year, CREA says

The record-breaking December capped off a record year for Canadian real estate.
The industry group noted that the number of homes listed for sale in Canada on Jan. 1 was the lowest on record.

Published 15 Jan, 2021 08:54pm

Companies

Walmart head of US e-commerce to retire

Lore was the co-founder of Jet.com, which Walmart acquired in 2016 to bolster its e-commerce ambitions and was later absorbed into the retail giant's own online business.

Published 15 Jan, 2021 08:53pm

Commodities

Britain's wheat imports pick up pace during November

Wheat imports for the month totalled 208,263 tonnes, up from 174,914 tonnes in October.
Cumulative imports since the start of the 2020/21 season, which started on July 1 last year.

Published 15 Jan, 2021 08:51pm

Europe

European vaccine shipments fall short as Turkey, China race ahead

About a third of EU governments cite 'insufficient' doses.
Pfizer says there will be 'temporary impact' on shipments.
Biden seeks to reverse Trump's 'dismal failure' on COVID-19.

Published 15 Jan, 2021 08:49pm

Companies

Tesla asks US safety agency to declare speed display issue inconsequential

The automaker asked the National Highway Traffic Safety Administration (NHTSA) to declare the noncompliance issue inconsequential to safety.
Tesla said it corrected the issue in production in September and that more than 75% percent of the affected US vehicles have accepted the firmware update released in September.

Published 15 Jan, 2021 08:47pm

Stocks

TSX flat as energy drag offsets US stimulus optimism

The energy sector dropped 1.9% as US crude prices were down 1.5% a barrel.
Toronto Stock Exchange's S&P/TSX composite index was down 7.48 points, or 0.04%, at 17,950.61.

Published 15 Jan, 2021 08:44pm

Energy

US EPA to seek comment on potential blending waiver for refiners

The move could open the door to a contentious debate between the oil and biofuel industries as President Donald Trump leaves office.
The exemptions have been a lightning rod of controversy for the oil and biofuel industries.

Published 15 Jan, 2021 08:40pm

Companies

Sinopharm COVID-19 vaccine could be cleared for use in minors before March

Based on clinical data we have obtained and regulatory procedures we are filing to National Medical Products Administration.
The vaccine being developed by CNBG's Beijing unit was the first in China to be approved for general public use in late December.

Published 15 Jan, 2021 08:38pm

Forex

Brazilian real snaps three-day rally; eyes weekly gains

Brazil's real outperforms peers for the week.
Chilean peso tracks sharpest weekly decline since August 2020.
Latam stocks index set to fall for the week.

Published 15 Jan, 2021 08:36pm

Companies

SoftBank Group, Hughes invest in British satellite communications firm OneWeb

Founded by entrepreneur Greg Wyler in 2014, OneWeb aims to provide high-speed broadband internet services globally using low earth orbit satellites.
SoftBank Group, a former investor in OneWeb, had pulled the plug on funding earlier, forcing OneWeb to file for bankruptcy protection in March.

Published 15 Jan, 2021 08:31pm

Stocks

S&P 500, Dow drop as big banks fall after results

JPMorgan dips despite posting jump in profit.
Citigroup, Wells Fargo slip after results.
Walmart drops as head of e-commerce to retire.
Retail sales fall again in December.
Indexes: Dow down 0.36%, S&P slips 0.26%, Nasdaq up 0.12%.

Published 15 Jan, 2021 08:29pm

Companies

Total quits top US oil lobby over climate policies

Total says will not renew membership of API.
French firm's policies only "partially align" with API.
Total, BP, Shell already quit US refining group.

Published 15 Jan, 2021 08:26pm

Europe

EU working on digital tax, WTO reform proposals, trade official says

EU is willing to consider judicial restraint in World Trade Organization dispute settlement and will submit a WTO reform proposal in February.

Published 15 Jan, 2021 08:24pm

USA

Inside Trump’s final days: Aides struggle to contain an angry, isolated president

Trump had wanted to join the thousands of hardcore followers who assembled at Capitol Hill on Jan. 6.
Trump’s fiery, grievance-filled speech from the Ellipse park on the southern outskirts of the White House was a central focus of this week’s hastily arranged proceedings in the House of Representatives that led to his impeachment on a charge of inciting insurrection.

Published 15 Jan, 2021 08:14pm

Companies

SEC launches probe of Exxon on Permian Basin asset valuation: WSJ

Woods told investors that Exxon could earn a double-digit returns in the Permian, even at $35-per-barrel oil.
Some Exxon managers in 2018 had initially pegged the net present value of the Delaware Basin in Permian at about $60 billion.

Published 15 Jan, 2021 08:22pm

USA

US business inventories rise in November

Business inventories rose 0.5% in November after increasing 0.8% in October, the Commerce Department said on Friday.
Retail inventories excluding autos, which go into the calculation of GDP, gained 0.2% instead of 0.3% as estimated last month.

Published 15 Jan, 2021 08:20pm

Sports

Euro 2021 could be held in one location or country

The 24-nation, month-long showpiece, a major revenue generator for the continent's soccer governing body UEFA and the national federations across Europe was postponed by 12 months.
We should not be dreaming," Blanc told Switzerland's 24 Heures newspaper. "In the best case it could be the second half of the year that we could lead a normal life again.

Updated 15 Jan, 2021 08:21pm

World

'Spend as much as you can,' IMF head urges governments worldwide

In terms of policies for right now, very unusual for the IMF, starting in March I would go out and I would say: 'please spend'. Spend as much as you can and then spend a little bit more.
Georgieva praised Russia's synchronised response to the economic challenges created by the COVID-19 pandemic.

Published 15 Jan, 2021 08:16pm

Pakistan

Money-laundering case: Court issues non-bailable arrest warrants for Salman Shehbaz

Salman along with his father PML-N President Shahbaz Sharif and brother Hamza Shehbaz is named in the money laundering case
The court has ordered to present Salman Shahbaz before the court on January 19

Updated 15 Jan, 2021 08:20pm

South Asia

Indian government, protesting farmers make no headway in talks, to reconvene Tuesday

Today's talks with farmers unions were inconclusive, and we will hold talks again on Jan. 19.
Farmers' around-the-clock sit-ins in cold weather have already led to some deaths among them.

Published 15 Jan, 2021 08:14pm

USA

Brazil retail sales surprisingly fall in November, first fall in seven months

Retail activity had rebounded to record levels in October from the depths of the COVID-19 crisis earlier last year.
It is common for consumers, when there is a drop in income or purchasing power, to buy fewer non-essential products and to choose cheaper brands.

Published 15 Jan, 2021 08:01pm

Pakistan

COAS General Bajwa visits Corps headquarters Peshawar

Appreciating officers and men of Peshawar Corps, General Bajwa lauded efforts of Law Enforcement Agencies (LEA)s including FC and police for bringing stability in the tribal districts.
The COAS was given detailed update on security situation, border management including fencing, capacity enhancement of Frontier Corps (FC) and police in newly merged tribal districts as a result of transition to stability.

Published 15 Jan, 2021 08:00pm

Financial

Sustainable bond sales, equity-raising at record highs in 2020

Sustainable finance still comprises a tiny fraction of the market. Financial information provider Refinitiv estimates sustainable loans and bonds together amounted to just under $750 billion in 2020.

Published 15 Jan, 2021 07:58pm

USA

It might be time to ‘rein in’ media after DC riots: says AOC

The Squad members had a lengthy discussion on the aftermath of Capitol riot on Instagram live stream.
“We’re going to have to figure out how we rein in our media environment so you can’t just spew disinformation and misinformation,” she said.

Published 15 Jan, 2021 07:54pm

Business & Finance

Malaysian medical glove exports face more delays amid shipping container shortage

The container shortage had eased after year-end festivities but the situation had yet to return to normal.
There are more empty containers available now. However, there may not be enough vessel space and we need to manage this till February.

Published 15 Jan, 2021 07:55pm

Energy

Pakistan opens bids for 20 onshore petroleum exploration blocks

The minimum investment to be carried out by the exploration and production (E&P) companies in these blocks for prospecting will be over $71 million in three years.
The move to grant licences for discovery comes after a gap of several years as the country is facing depleting gas reserves.

Published 15 Jan, 2021 07:54pm

Energy

Oil falls as China lockdown, US unemployment data temper gains

Brent was down 83 cents, or 1.5%, at $55.59.
US West Texas Intermediate crude was down 57 cents, or 1.1%, at $53 a barrel.

Published 15 Jan, 2021 07:51pm

Commodities

Gold steadies as firm dollar offsets tighter lockdown impact

Powell sees no reason to alter Fed's accommodative stance.
Platinum gains more than 3% for the week.

Published 15 Jan, 2021 07:49pm

USA

US retail sales fall again in December

Data for November was revised down to show sales declining 1.4% instead of 1.1% as previously reported.
The report followed in the wake of news last week that the economy shed jobs in December for the first time in eight months.

Published 15 Jan, 2021 07:46pm

Money & Banking

ECB's Stournaras: Many euro zone banks underestimate credit losses from pandemic

There is a widespread view that many banks in the euro area underestimate their credit losses due to the pandemic.
Despite a projected economic recovery in 2021, risks remain elevated, he said.

Published 15 Jan, 2021 07:44pm

USA

Exxon faces SEC probe over Permian Basin asset valuation

The U.S Securities and Exchange Commission has launched an investigation into Exxon.
Several people involved in valuing the asset, during an internal assessment in 2019.

Published 15 Jan, 2021 07:44pm

Commodities

Copper retreats, zinc near 2-month low on coronavirus surge

Data on Friday showed Britain's economy shrank in November for the first time since the initial COVID-19 lockdown last spring.
There's still considerable threats and challenges, all is not rosy with the virus and economic recovery.

Published 15 Jan, 2021 07:41pm

Money & Banking

Poland's Pekao aiming for higher 2021 profit despite low rates

This operation has attracted attention, but this is not something that would change the bank (Pekao).
Pekao is working on a strategy for 2021-23 and if rates remain unchanged in that period its return on equity will not return to its pre-pandemic level of around 9%.

Published 15 Jan, 2021 07:38pm

Stocks

Wintershall Dea says good time for shareholders' 2021 IPO plan

We see indeed positive signals from raw materials prices, equity markets and the macro-economy, which are all strengthening.
Earnings before interest, tax, depreciation, amortisation, and exploration expenses, a standard oil industry measure, (EBITDAX), however, fell 44% in Jan-Sept 2020.

Published 15 Jan, 2021 07:24pm

Europe

Dutch government resigns over childcare subsidies scandal

The Dutch government, led by Prime Minister Mark Rutte has resigned over the childcare subsidies scandal.
A report last month revealed that around 10,000 families in the Netherlands had been forced to repay tens of thousands of euros worth of subsidies, after being falsely accused of fraud.

Updated 15 Jan, 2021 07:36pm

Money & Banking

Wells Fargo profit beats Wall Street estimates as credit costs fall

The fall in provisions was mainly due to the release of $757 million in reserves built after the announced sale of its student loan portfolio.
The bank paid $321 million in customer remediation costs in the quarter.
Total revenue fell 10% to $17.93 billion.

Published 15 Jan, 2021 07:19pm

Money & Banking

Citigroup profit beats, but shares dip on higher costs, weak revenue

Shares in the bank, which have been trading at a 10-month high, fell 1.6% in premarket trading.
Citi had added more than $10 billion to its reserves last year in expectations of more loan defaults.

Published 15 Jan, 2021 07:15pm

Commodities

Asia Gold-China flips to premium after 11 months as New Year beckons

Singapore premiums widen to $0.80-$1.80/oz.
Indian premiums ease amid subdued demand.
A stronger yuan and lower spot gold prices also helped, said Peter Fung, head of dealing at Wing Fung Precious Metals.

Published 15 Jan, 2021 07:13pm

Commodities

Sovecon may raise estimate of Russia's 2020/21 wheat exports

It had previously forecast exports of 36.3 million tonnes for this season.
The country would continue taxing wheat exports in the 2021/22 marketing season that starts on July 1

Published 15 Jan, 2021 07:12pm

Europe

Italy's Conte seeking stray senators to save struggling coalition

Italia Viva walkout leaves coalition without majority.
Prime minister to face confidence votes in parliament.
Political uncertainty has pushed up borrowing costs.

Published 15 Jan, 2021 07:08pm

Companies

France's Total quits top US oil lobby over climate policies

Total said in a statement that it will not renew its 2021 membership with the API following a review of the lobby's positions which were "partially aligned" with Total's.
hose include API's support for the rollback of US regulation on emissions of methane.

Published 15 Jan, 2021 07:06pm

USA

US producer prices increase moderately in December

The producer price index for final demand increased 0.3% last month after nudging up 0.1% in November.
A 1.1% increase in the cost of goods accounted for last month's rise in the PPI. Prices for services dipped 0.1%.

Published 15 Jan, 2021 07:04pm

Sports

Rooney ends playing career to become Derby manager

To be given the opportunity to follow the likes of Brian Clough, Jim Smith, Frank Lampard and Phillip Cocu is such an honour and I can promise everyone in involved in the club and all our fans.

Published 15 Jan, 2021 07:01pm

USA

US plans fresh Iran sanctions related to metals, conventional arms

Donald Trump has imposed on the Iranian economy to try to force Tehran into a new negotiation on curbing its nuclear program as well as its missile and regional activities.

Published 15 Jan, 2021 06:59pm

Europe

Dutch government resigns over childcare subsidies scandal

Rutte said he had handed his resignation to King Willem-Alexander. The cabinet would remain in place in a caretaker capacity to manage the coronavirus crisis for now.
Many of the families were targeted based on their ethnic origin or dual nationalities.

Published 15 Jan, 2021 06:56pm

Europe

Influence-peddling probe launched against French ex-leader Sarkozy

The probe opened by France's PNF financial prosecutors concerns advisory activities undertaken by Sarkozy in Russia.
A court will on March 1 give its verdict in a separate corruption trial

Published 15 Jan, 2021 06:50pm

South Asia

Taliban kill 9 Afghan security personnel in checkpoint raids

The militants launched simultaneous raids on the checkpoints in Kunduz, a region bordering Tajikistan that has seen regular clashes between the insurgents and government forces.
The insurgents have regularly attacked security forces in the province, often attempting to enter Kunduz city,

Published 15 Jan, 2021 06:48pm

Stocks

Markets struggle after Biden unveils huge stimulus plan

Frankfurt declined 0.3 percent and Paris shed 0.5 percent in midday eurozone trade.
The dollar traded mixed, while oil prices were down around 1.5 percent.

Published 15 Jan, 2021 06:36pm

World

Global death toll nears 2 million as WHO battles new virus strains

Adding to the run of terrible milestones, Germany, Europe's biggest economy, hit two million infections.
Many countries are doubling down on virus restrictions, with vaccination drives still in their infancy.

Published 15 Jan, 2021 06:33pm

Companies

France says pharma giant Sanofi could make rivals' Covid vaccines

The world has been scrambling to develop and produce enough anti-Covid vaccines, with innoculation drives hampered by limited stocks of doses and logistical constraints.
France had high hopes that its national champion Sanofi would contribute to a first wave of coronavirus inoculation.

Published 15 Jan, 2021 06:31pm

Money & Banking

JPMorgan Chase scores record profit, lowers reserves for bad loans

The biggest US bank by assets reported record quarterly profits of $12.1 billion, up 42.4 percent from the year-ago levels.
Some sectors, such as homebuilders and technology, are also seeing strong demand in the stay-at-home economy.

Published 15 Jan, 2021 06:28pm

Companies

Pfizer vaccine deliveries delayed in Europe: Oslo

It is not immediately clear how long it will take for Pfizer to attain maximum production capacity, which will rise from 1.3 to 2 billion doses annually.
The FHI provided no detailed numbers on deliveries to Europe as a whole, but said Norway would next week receive 36,075 doses.

Published 15 Jan, 2021 06:26pm

Companies

Smartphone giant Xiaomi reels as US ramps up China blacklist

Beijing hit back at the latest sanctions, accusing the US of "abusing state power" to crack down on Chinese companies "for no reason".
Xiaomi said in a statement that "it is not owned, controlled or affiliated with the Chinese military, and is not a 'Communist Chinese Military Company'".

Published 15 Jan, 2021 06:21pm

Europe

Italy approves new stimulus package, shunting up 2021 deficit

Cabinet announces new 32 bln euro stimulus package.
2021 deficit seen rising to 8.8% of national output.

Published 15 Jan, 2021 06:18pm

Europe

UK economy shrinks but might avoid double-dip recession

GDP falls 2.6% in November from October vs 5.7% forecast.
ONS says many businesses have adapted well to lockdown.
Services output down 3.4%, construction up 1.9%, industry flat.
Finance minister Sunak warns "things will get harder".
Headwinds from Brexit disruption, renewed lockdown mount in Q1.

Published 15 Jan, 2021 06:16pm

Energy

Rising German wind power weighs on Monday prices

The price of over-the-counter baseload for Monday delivery in Germany was down 25.4% at 58 euros ($70.33) a megawatt hour (MWh).
The French day-ahead contract fell 19% to 63 euros/MWh.

Published 15 Jan, 2021 06:14pm

Pakistan

Pakistan to launch WhatsApp-like app by June 2021

Orders to develop the app were issued by the federal cabinet.
“WhatsApp should have taken opinion from users before updating its policy and no company is allowed to impose its decisions to its users through constraints.”

Published 15 Jan, 2021 06:09pm

Energy

Russia has boosted oil output by 150,000 bpd so far in Jan

Oil and gas condensate production stood at 10.04 million bpd on average in December.
Russia has said it would raise its crude oil production in January by around 125,000 bpd as curbs by the OPEC+ group of leading global oil producers were tapered off.

Published 15 Jan, 2021 06:12pm

Companies

Nord Stream 2 delays resuming pipeline construction: report

The consortium will probably be able to say at the end of January or in early February when work will resume, the spokesman said.
The construction of a 2.6-km long portion of the pipeline in Germany's shallow waters was resumed and finished last month with the help of the Fortuna.

Published 15 Jan, 2021 06:10pm

Technology

Swedish court dismisses Huawei appeal over 5G network ban

A ruling by the Administrative Court of Appeal in a case relating to the law on electronic communication is final and therefore cannot be appealed.
Huawei's hope was that the (Supreme) court would take a broader approach to the issue of law and consider the appeal on other grounds.

Published 15 Jan, 2021 06:02pm

Money & Banking

Kenya's remittance inflows jump by nearly 11pc in 2020 to $3bn

In Kenya, remittance inflows were strongly buoyant in 2020, despite the devastation by COVID-19 (coronavirus) in the source countries.
This remarkable growth of remittances has been supported by financial innovations that provided Kenyans in the diaspora more convenient channels for their transactions.

Published 15 Jan, 2021 06:01pm

South Asia

Nepal approves AstraZeneca COVID-19 vaccine for emergency use

Conditional permission has been granted for emergency use authorization of COVISHIELD vaccine against COVID-19 in Nepal.
Nepal has reported 266,816 cases and 1,948 deaths from COVID-19.

Published 15 Jan, 2021 05:57pm

Europe

Russia to reopen schools as COVID-19 case tally passes 3.5 million

All schools are now reopening apart from 10 of them that have been specially quarantined.
We can assume that the infection peak has already passed.

Published 15 Jan, 2021 05:54pm

Europe

Germany surpasses 2 million coronavirus cases, death rate up

Europe's biggest economy and most populous country managed the pandemic better than neighbours last spring.
Alarmed by the high infection rate and bracing for the spread of more transmissible variants of the virus.

Published 15 Jan, 2021 05:51pm

Companies

BlackRock sells $200mn China Telecom stake after US ban

BlackRock sale at HK$1.92/share is below market price.
BlackRock stake reduced from 6.1% to 0.2%.
Comes as US investors quit stocks subject to sanctions.

Published 15 Jan, 2021 05:49pm

Europe

Germany hopes for quick talks with US about Nord Stream 2

Nord Stream 2, designed to double capacity of the existing undersea Nord Stream gas pipeline from Russia to Germany.
The group behind the pipeline suspended works in December 2019 due to the threat of sanctions from Washington.

Published 15 Jan, 2021 05:48pm

South Asia

Askar Mamin reappointed as Kazakh prime minister after election

Mamin had stepped down after a Jan. 10 parliamentary election, as required by the constitution.
Mamin's reappointment indicates that radical policy changes are unlikely in the oil- and metals-rich nation.

Published 15 Jan, 2021 05:44pm

Sports

Auckland City withdraw from Club World Cup over COVID quarantine measures

The 2020 edition of the tournament, which was originally scheduled for December, is now being held from Feb. 1-11 in Qatar and brings together continental champions from across the world.

Published 15 Jan, 2021 05:42pm

Africa

South Africa's mining industry to support COVID-19 vaccine rollout

Mining industry to aid government in vaccine rollout.
Sibanye has potential to vaccinate 18,000 people per day.
Vaccinating all mineworkers could cost around $3.36 mln.

Published 15 Jan, 2021 05:40pm

Europe

Travel ban over Brazilian variant precautionary, UK transport minister says

Britain will ban arrivals from South American countries and Portugal because of concerns over a new Brazilian variant of the coronavirus.
The Brazilian variant shares some characteristics with those found in Britain and South Africa,

Published 15 Jan, 2021 05:37pm

Companies

BMW aims to double fully-electric vehicle sales in 2021

BMW also said that including plug-in hybrids, it aims for a 50% increase in sales of electrified vehicles versus 2020.
Tesla delivered just under 500,000 vehicles, all fully electric, to customers in 2020.

Published 15 Jan, 2021 05:35pm

Europe

EU drug regulator says emails on evaluation process of COVID-19 vaccines leaked online

The European Medicines Agency did not provide more details but was sharply critical on the impact of the breach.
"Some of the correspondence has been manipulated by the perpetrators prior to publication in a way which could undermine trust in vaccines,"

Published 15 Jan, 2021 05:33pm

Stocks

Indian bond yields post biggest weekly rise in four months

The Reserve Bank of India last week said it would conduct a variable-rate reverse repo auction for 2 trillion rupees ($27 billion) on Jan. 15.
The benchmark 10-year bond yield ended at 5.99% versus 5.93% on Thursday.

Published 15 Jan, 2021 05:31pm

Europe

British travel ban is ‘absurd’, Portuguese foreign minister says

Santos Silva told the state-owned news agency Lusa late on Thursday he had requested a meeting with British foreign minister Dominic Raab to clarify the situation.
This is an absurd measure, and we don't understand what it is based on.

Published 15 Jan, 2021 05:29pm

Europe

Turkey's vaccine blitz tops 500,000 on second day of rollout

Ankara launched the nationwide programme on Thursday, vaccinating health workers first, and inoculated more than 285,000 people on the first day.
We are an experienced country in implementing nationwide inoculation programmes.

Published 15 Jan, 2021 05:27pm

Financial

Italian bond yields dip but set for biggest weekly rise since October

Italian bond yields dip after Thursday sell-off.
But set for biggest weekly rise since October.
Focus on Monday's vote of confidence.

Published 15 Jan, 2021 05:25pm

Money & Banking

Indian banks' loans rose 6.7pc y/y in two weeks to Jan 1

Outstanding loans rose 1.58 trillion rupees ($21.62 billion) to 107.05 trillion rupees in the two weeks.
Non-food credit rose 1.58 trillion rupees to 106.12 trillion rupees, while food credit fell 6.08 billion rupees to 925.45 billion rupees.

Published 15 Jan, 2021 05:23pm

Money & Banking

JPMorgan profit jumps on trading, investment banking strength

Net income rose to $12.1 billion, or $3.79 per share, in the quarter ended Dec. 31, from $8.5 billion, or $2.57 per share, a year earlier.
Analysts on average had expected earnings of $2.62 per share, according to Refinitiv.

Published 15 Jan, 2021 05:21pm

Pakistan

KP passes bill to protect women from domestic violence

Under this bill, the violator will be liable to imprisonment for a period not less than one year and up to a maximum of five years.
The government will form District Protection Committees at each district to ensure the protection of the women.

Updated 15 Jan, 2021 05:21pm

Money & Banking

Indian govt had no outstanding loans from RBI in week to Jan 8

The central government had no outstanding loans in the week earlier as well.
State governments had 54.60 billion rupees ($747.03 million) loans from the RBI in the week ended Jan. 8, compared with 55.69 billion rupees in the previous week.

Published 15 Jan, 2021 05:20pm

Stocks

Wall St Week Ahead-Earnings season to test surge in regional banks stocks

The large banks with the large customers are in better shape across the board" because of their greater access to credit markets and investment banking income.
Regional banks, including Zions Bancorp, First Midwest Bancorp and United Community Banks Inc , are expected to report their quarterly results on Tuesday.

Published 15 Jan, 2021 05:17pm

Sports

Ibrahimovic planning talks on extending Milan stay

"As long as I'm fine, I'll go on," Ibrahimovic said in an interview with Italian newspaper Corriere dello Sport. "My contract expires in June and we'll talk about it.
"I didn't want to get trapped in dead-end situations or even trap my club. That's why I signed up for six months on arrival and then renewed. I am for the freedom of choice."

Published 15 Jan, 2021 05:15pm

USA

Some US nursing home residents face delays for COVID-19 vaccines despite extreme risk

Fewer than 10% of doses allocated to those Arkansas seniors have been administered, according to the state health department.
"This is not acceptable," said Thompson. "We're seeing a failure in deployment by CVS and Walgreens."

Published 15 Jan, 2021 05:13pm

Companies

Thermo Fisher buys Belgium's Henogen for nearly $880mn

The acquisition will help expand Thermo Fisher's capabilities for cell and gene vaccines and therapies, the company said.
Thermo Fisher bought Henogen from contract manufacturing services provider Novasep.

Published 15 Jan, 2021 05:07pm

Pakistan

CAA imposes fine on Turkish Airlines for violating COVID-19 SOPs

The airline allowed two passengers to board its flight TK0584 from Istanbul to Lahore without proof of negative RT-PCR test.
Both countries are listed as a Category B countries by Pakistan, which means that inbound passengers landing in Pakistan have to get a PCR test at least 96 hours before traveling.

Updated 15 Jan, 2021 05:08pm

Europe

Paraguay approves Russia's Sputnik V vaccine

The Russian Direct Investment Fund said the vaccine had been granted emergency use authorisation by Paraguay's regulators.
Other countries that approved the vaccine in this way so far include Argentina, Bolivia, Venezuela, Algeria and Serbia.

Published 15 Jan, 2021 05:05pm

Europe

Bulgaria's jobless rate unchanged at 6.7pc in December

The jobless rate was 5.9% in December 2019.
There were some 1,442 more unemployed people in the Balkan country of 7 million than a month earlier and about 25,577 more than a year before.

Published 15 Jan, 2021 05:01pm

Pakistan

Remarks of British lawmakers clearly states Kashmir is not India's internal issue: Qureshi

Foreign minister says statements of UK Parliamentarians have exposed the real face of Indian government
Qureshi expresses hope that a similar voice in favor of Kashmiri people will be raised in the US Congress after the new government under Biden leadership assumes it responsibility

Published 15 Jan, 2021 04:51pm

Pakistan

FO says passengers of PIA’s seized aircraft will be departing Kuala Lumpur tonight

"Our High Commission in Malaysia is in close contact with the relevant Malaysian authorities and Pakistan International Airlines to address the issue at the earliest," FO said.
The plane was held back by a local court in Malaysia as part of a legal dispute between the airline and another party.

Published 15 Jan, 2021 04:40pm

Sports

Nine uncapped players in 20-member side for South Africa Tests

Abdullah Shafique, Haris Rauf, Imran Butt, Kamran Ghulam, Nauman Ali, Salman Ali Agha, Saud Shakeel, Sajid Khan and Tabish Khan rewarded for stellar performances.
Chief selector Muhammad Wasim says domestic cricket will remain a stepping stone for international cricket and will be valued and respected.

Published 15 Jan, 2021 04:25pm

Pakistan

Malaysian authorities seize PIA's aircraft at Kuala Lumpur Airport as part of legal dispute

The national carrier said, “It is an unacceptable situation and PIA has engaged the support from Government of Pakistan to take up this matter using diplomatic channels.”
The PIA plane was seized on the orders of a local Malaysian court over the non-payment of aircraft lease dues.

Updated 15 Jan, 2021 04:24pm

USA

American troops in Afghanistan formally down to 2500

The United States military has met its goal of reducing the number of troops in Afghanistan to about 2500, as ordered by President Trump in November.
President-elect Biden has advocated retaining a small counter-terrorism force in Afghanistan, in an effort to ensure that extremist groups like Al-Qaeda are unable to launch attacks on the United States.

Updated 15 Jan, 2021 04:05pm

Business & Finance

Pakistan to soon open tenders for 20 new Oil & Gas exploration blocks

Regarding the recent power breakdown, Omer Ayub said a committee has been constituted to investigate the matter and action will be taken against those found responsible.

Published 15 Jan, 2021 03:32pm

Pakistan

Sale of smuggled fuel products: Authorities seal 609 petrol pumps, seize 4.5 million litres of petrol and diesel

PM's office says the campaign launched against oil smuggling is continuing unabated and showing significantly good results
If the sealed pumps failed to show valid documentation within seven days of sealing, these will be confiscated by the State under the Customs Act

Published 15 Jan, 2021 03:32pm

Forex

Rouble retreats from near one-week high as oil prices slip

Brent crude oil, a global benchmark for Russia's main export, was down 1.3% at $55.68 a barrel, hampering Russian stock indexes.

Published 15 Jan, 2021 03:21pm

Commodities

EU awards 440,000 T maize, 51,072 T wheat imports under Ukraine quotas

No imports were requested in a further 350,000 tonne quota tranche available for Ukrainian barley.

Published 15 Jan, 2021 03:19pm

World

AstraZeneca lung cancer drug approved for new dosing regimen in EU, UK

The company said that an additional dosing option of a 1,500mg fixed dose every four weeks was approved.

Published 15 Jan, 2021 03:17pm

Managed Funds

JGBs firm as investors price in auction results, Biden's stimulus proposal

The 10-year JGB yield fell 0.5 basis point to 0.025%, while the 20-year JGB yield was flat at 0.410%.

Updated 15 Jan, 2021 03:17pm

Pakistan

PTI submits proofs of ‘foreign funding’ against , PPP, PML-N to ECP

“We have submitted another plea to the Chief Election Commissioner (CEC) today and sought daily hearing of the case," says Farrukh Habib.
He claimed that PML-N is also facing an allegation of toppling late Benazir Bhutto’s government after receiving funds from Osama Bin Laden.

Published 15 Jan, 2021 03:05pm

Pakistan

Pakistan has not placed any orders for the coronavirus vaccine yet: Report

Top federal government health authorities have confirmed that Pakistan has neither placed any final order yet to acquire the COVID-19 vaccine nor has any vaccine manufacturer accepted the country’s request for supply of the vaccine.
Health authorities in Pakistan are aiming to vaccinate around 100 million of its adult population or at least 70-80 million people.

Updated 15 Jan, 2021 03:09pm

Business & Finance

Hike in POL rates expected as OGRA summary sent to PM

It has also been recommended to levy 17 percent GST and Rs 30 levy on the prices of petroleum products.

Published 15 Jan, 2021 03:01pm

China

Biden picks Clinton adviser Rosenberger as White House China director

Laura Rosenberger, a State Department and White House veteran who was a foreign policy adviser to Hillary Clinton’s unsuccessful 2016 presidential election campaign, will serve as senior director for China in Joe Biden’s White House.
Ties between the United States and China have plunged to the lowest level in decades in the last year of Donald Trump’s presidency.

Published 15 Jan, 2021 02:58pm

Pakistan

Senate session: Mandviwalla says will continue fight till declaration of assets by NAB officials

Mandviwalla says if the Parliament is silent over the issue then there can be no hope for ordinary citizens
The deputy chairman emphasised that NAB is making doing business in the country difficult by going after everyone's accounts

Published 15 Jan, 2021 02:50pm

Forex

Kenya shilling steady, to weaken due to importer demand, dividends

At 0738 GMT, commercial banks quoted the shilling at 110.00/110.20 to the dollar, unchanged from Thursday's close.

Published 15 Jan, 2021 02:27pm

Business & Finance

Record LNG prices push Pakistan, Bangladesh to ration gas, seek other fuels

Spot LNG prices LNG-AS have nearly tripled since early November as freezing temperatures across North Asia boosted demand and depleted inventories. Since July, prices are up a dizzying 1,000%.

Published 15 Jan, 2021 02:23pm

Commodities

NY cocoa may retest support at $2,470

This wave looks incomplete. It may extend to or below $2,425.

Published 15 Jan, 2021 02:23pm

Stocks

European shares inch lower on lockdown worries

US president-elect Joe Biden outlined a $1.9 trillion stimulus package proposal on Thursday, but failed to excite markets that had rallied in anticipation of the announcement.

Published 15 Jan, 2021 02:20pm

Managed Funds

Italian bond yields dip but set for biggest weekly rise since Oct

But the spread, effectively the risk premium Italy pays on its debt, is up over 10 bps this week.

Published 15 Jan, 2021 02:18pm

Stocks

London stocks set for weekly loss; Indivior jumps

The blue-chip FTSE 100 index fell 0.5%, with mining and construction stocks declining the most.

Published 15 Jan, 2021 02:16pm

Business & Finance

ADP appoints Eugene Zhukov head of 10 countries, including Pakistan

Zhukov will manage 10 country offices and 7 sector divisions: energy; environment, natural resources, and agriculture; public management, financial sector, and trade; regional cooperation and operations coordination; social; transport and communications; and urban development and water.

Published 15 Jan, 2021 02:13pm

World

Indonesia quake kills at least 35, injures hundreds

"Praise be to God, for now OK, but we just felt another aftershock," said Sukri Efendy, a 26-year-old resident of the area.

Published 15 Jan, 2021 02:13pm

Stocks

Hong Kong shares end at near one-year high on robust mainland inflows

Financials firms led the gains on Friday, as more Chinese banks expect solid profit growth for the year of 2020.

Published 15 Jan, 2021 02:11pm

Business & Finance

Japan take action to curb illegitimate used cars trade in Pakistan

The Embassy of Pakistan in Tokyo is taking all legal measures both in Pakistan and Japan to address the matter under applicable laws; and, to mitigate any possible unease that might be caused to legitimate trade

Updated 15 Jan, 2021 02:12pm

Commodities

Asia's Q4 cocoa grind falls 4.2% to 217,546 T

Quarter on quarter, the cocoa grind rose 7.3%, it said.

Published 15 Jan, 2021 02:10pm

Companies

Kenya Airways plans more pay cuts due to pandemic

At the time it forecast a fall in 2020 revenues of between 60 billion and 70 billion shillings as demand for the rest of the year was expected to be less than half that of 2019.

Published 15 Jan, 2021 02:08pm

Forex

Dollar rises as currency markets turn risk-averse; Aussie and Kiwi fall

The New Zealand dollar was also down on the day, by around 0.6%.

Published 15 Jan, 2021 02:06pm

Sports

From net bowler to test debut, India's Natarajan continues fairytale journey

"I think 'Nattu' bowled really well today," said fellow Tamil Nadu player Washington Sundar, who also made his test debut in the match replacing injured spinner Ravichandran Ashwin.

Published 15 Jan, 2021 02:04pm

Europe

Merkel wants "very fast action" against virus after record deaths

Only about 1% of the German population, or 842,455 people, has been vaccinated, the RKI reported.

Published 15 Jan, 2021 01:36pm

Commodities

North America cocoa grind up 6.95% from year earlier

NCA said a total of 17 plants in the region reported cocoa grindings data for the quarter.

Published 15 Jan, 2021 01:34pm

World

Brazil registers 67,758 new coronavirus cases and 1,131 new COVID-19 deaths

The South American country has now registered 8,324,294 cases since the pandemic began.

Published 15 Jan, 2021 01:32pm

World

FBI has arrested more than 100 people over Capitol siege, looks now to inauguration

We're looking at individuals who may have an eye towards repeating that same kind of violence that we saw last week.

Published 15 Jan, 2021 01:30pm

Industry

MG Motor gets the Greenfield status for Car Manufacturing in Pakistan

Morris Garages (MG) Motor has received the Greenfield status to manufacture cars in Pakistan.

Published 15 Jan, 2021 01:10pm

Technology

Microsoft increases file upload size to 250GB for OneDrive, Teams, and SharePoint

As remote work and learning increases, Microsoft announced that it will soon be increasing its upload limit to 250 GB from 100 GB for OneDrive, Teams, and SharePoint.

Updated 15 Jan, 2021 01:07pm

Pakistan

At 15.97%, Karachi has the highest coronavirus positivity rate in the country: NCOC

NCOC said the national positivity rate is 5.9%.
According to health experts, the surge in coronavirus cases in Karachi is due to the ideal weather conditions.

Published 15 Jan, 2021 12:40pm

Managed Funds

US Treasury overhauls stake in Fannie, Freddie with eye towards government exit

Government officials also acknowledged that a number of complicated issues must still be resolved by the incoming Biden administration.

Published 15 Jan, 2021 12:29pm

Financial

New York City's FY 2022 budget gap grows to $5.25 billion

The mayor called for a new and substantial round of stimulus to help offset the economic fallout from the pandemic and stave off the possibility of state funding cuts.

Published 15 Jan, 2021 12:25pm

World

Britain's arms sale to India will contribute to shedding blood of Kashmiri people, Shah tells UK Parliament

British parliamentarian says we need international leaders and governments with the will to take action and stop genocide taking place in IIOJK
Seventy-four years on, the trajectory for the people of Kashmir is leading to a future far from a right of self-determination and closer to one of non-existence: Shah

Published 15 Jan, 2021 12:26pm

Sports

Hazard needs confidence boost, says Zidane

"Today we struggled in the first half, we improved in the second but it wasn't enough," added Zidane.

Published 15 Jan, 2021 12:23pm

World

UK to step up coronavirus vaccinations: FT

The government is preparing to vaccinate all individuals over the age of 50 by mid- to late March, The Times reported on Friday citing Whitehall sources.

Published 15 Jan, 2021 12:22pm

Companies

SAP forecasts flat 2021 revenue after fourth-quarter recovery

"SAP also saw strong early take-up of its new holistic business transformation offering among pilot customers, contributing to the cloud performance in the quarter," the company said.

Published 15 Jan, 2021 12:20pm

Pakistan

Classes 9 to 12 to reopen from January 18 as scheduled: Education minister

Classes 1-8 will start from February 1 instead of January 25, Shafqat Mahmood said.
He also said students will not be promoted to the next class without examination.

Published 15 Jan, 2021 12:05pm

USA

Biden picks former South Carolina Democratic Party chair Harrison to head DNC

The current DNC chairman, Tom Perez, has said he would not seek another term.

Published 15 Jan, 2021 12:18pm

Stocks

Australia shares rise ahead of US stimulus plan, NZ flat

Oil Search gained 3.1%, followed by Woodside Petroleum, up 2%.

Published 15 Jan, 2021 12:15pm

World

Biden unveils plan to pump $1.9 trillion into pandemic-hit economy

The Biden plan - if enacted - would buy more time for the economy to bridge the period until the distribution of vaccines allows for a wider resumption of economic activity.

Published 15 Jan, 2021 12:13pm

Europe

British govt will not reduce worker rights post-Brexit, business sec says

Commenting on the report, opposition member of parliament Ed Miliband said the government's priorities were "out of step with the needs of workers and their families".

Published 15 Jan, 2021 12:09pm

World

Parler urges US judge to order Amazon to restore its platform

Parler wants a temporary court order that it be restored to Amazon's servers while it litigates.

Published 15 Jan, 2021 11:57am

Business & Finance

Thar coal saved Pakistan $78mn in power generation, says Murad

CM said that work on 660 MW (2 x 330 MW) power projects was started and power was being supplied to the national grid from July 10, 2019.

Published 15 Jan, 2021 11:58am

Sports

Japan to ban entry of foreign athletes during virus emergency

The pause of athlete exemptions would follow the government's suspension this week of exemptions for business travellers.

Published 15 Jan, 2021 11:55am

Financial

UK economy to take at least two years to return to pre-COVID-19 level

However, six of the near 60 respondents expected negative rates by the end of 2021.

Published 15 Jan, 2021 11:53am

Companies

TSMC shares rise more than 5% after record high quarterly results

The world's top contract chipmaker on Thursday posted its best-ever quarterly profit and hiked revenue and capital spending estimates to record levels as it forecast.

Published 15 Jan, 2021 11:51am

Managed Funds

Australian govt to sell new 2032 bond line by syndication

Issuance via tender would be at a rate of A$2 billion to A$3 billion in most weeks. No other new bond line would be sold this fiscal year.

Published 15 Jan, 2021 11:48am

World

Pence vows to honor US history, ensure safe inauguration of new president

During the attack, some of Trump's supporters discussed assassinating Pence for being a traitor.

Published 15 Jan, 2021 11:47am

Energy

Brent oil may revisit Jan 13 high of $57.42

On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. The pullback may have completed.

Published 15 Jan, 2021 11:44am

Asia

China's Innovent Biologics plans $610mn share sale to expand production, clinical trials

The Jiangsu-based biopharmaceutical firm said TYVYT_ is co-developed in China by the company and US-based peer Eli Lilly.

Published 15 Jan, 2021 11:42am

Business & Finance

China bans PIA flights after COVID-19 found in passengers

Confirming the ban by China, PIA spokesman Abdullah Khan said that the report of the COVID-19 test conducted 72 hours ago by passengers traveling from Pakistan to China was negative.

Published 15 Jan, 2021 11:42am

Commodities

ASIA RICE-Indian prices hold steady, Thai rates hit 8-month high on stronger baht

Meanwhile, Bangladesh's state grains buyer has issued a tender to buy 50,000 tonnes of rice to boost depleted reserves, amid a surge in prices.

Published 15 Jan, 2021 11:38am

World

Mexico's coronavirus death toll rises to 137,916

The real number of infected people and deaths is likely significantly higher.

Published 15 Jan, 2021 11:37am

World

Japan to spend $7.2bn in coronavirus emergency reserves to back shorter business hours

The spending will leave the government with 5.66 trillion yen in coronavirus emergency reserves earmarked in the state budget, it said.

Published 15 Jan, 2021 11:35am

Forex

Australia, NZ dollars pumped up by US stimulus splurge

That in turn is a driver of consumer spending and a windfall to government tax receipts.

Published 15 Jan, 2021 11:33am

Business & Finance

Reeling from coronavirus, Asia's poultry farmers battle bird flu outbreak

Still, the country has banned live bird imports from countries with H5N8 and set up a surveillance system for early detection of the virus, he said.

Published 15 Jan, 2021 11:30am

Companies

Samsung launches new flagship Galaxy S smartphone early, targets remote workers, gamers

Samsung plans to offer the stylus with other devices, said TM Roh, head of Samsung's mobile communications business.

Published 15 Jan, 2021 11:27am

Commodities

Palm oil may bounce into 3,592-3,631 ringgit range before falling

On the daily chart, the drop triggered by the key resistance at 3,856 ringgit looks so decent that it suggests a completion the wave C from 2,691 ringgit.

Published 15 Jan, 2021 11:23am

Energy

Oil mixed as Chinese lockdowns raise demand questions

Across the wider Asian region, "refining margins remain abysmal and regional floating storage is higher than month-ago levels," RBC said.

Published 15 Jan, 2021 11:21am

Companies

Oil-linked LNG may be here to stay after spot market skyrockets

A lack of spare capacity and limited storage options in Asia also makes the LNG market susceptible to sudden jolts in demand and supply, industry sources said.

Published 15 Jan, 2021 11:17am

Companies

Rosneft seeks to tempt trading houses into Arctic oil project with supply deals

"It is an issue of risk versus reward, and for some people the maths are still not working," one of the sources said.

Published 15 Jan, 2021 11:13am

Real Estate

China's new home prices see moderate growth in December

China's property market has recovered quickly from the COVID-19 pandemic thanks to local governments' relaxation on price ceilings and urban-residency permits, while access to mortgages has also become easier.

Published 15 Jan, 2021 11:12am

Companies

AirAsia X shows court creditors' support for restructuring plan

The airline is seeking to restructure 64.15 billion ringgit of debt. Its accrued debt amounts to 2.24 billion ringgit, without taking into consideration contingent debts such as its large aircraft order book with Airbus.

Published 15 Jan, 2021 11:09am

Technology

Amazon faces class-action lawsuit over eBook pricing

About 90% of eBooks are sold through Amazon, the largest US eBooks seller, the lawsuit claimed.

Published 15 Jan, 2021 11:07am

Asia

Biden's inauguration rehearsal postponed over security concerns, Politico says

The rehearsal is now planned for Monday.

Published 15 Jan, 2021 11:05am

Financial

PBOC conducts small net drain of medium-term liquidity, suggesting tightening bias

Separately, the steady MLF rate should indicate no change for the country's benchmark loan prime rate (LPR) at its monthly fixing next Wednesday.

Published 15 Jan, 2021 11:04am

Business & Finance

Despite COVID Pakistan’s Textile exports to EU surge due to govt policies, says envoy

The envoy was of the view that the rise in textile exports was the result of governments’ smart lock down strategy, reopening of industry, as well as recently announced energy package to help exporters recuperate from the effects of the pandemic.

Published 15 Jan, 2021 11:03am

World

North Korea shows off new submarine-launched missiles after rare party congress

The parade featured rows of marching soldiers, as well as a range of military hardware including tanks and rocket launchers.

Published 15 Jan, 2021 11:01am

Commodities

Corn set for biggest weekly gain since July as global supplies tighten

Argentine soybean and corn fields have benefited from recent rain, with more showers expected that could slowly improve crop yields after they were threatened by dry weather earlier in the season, local climate experts said on Thursday.

Published 15 Jan, 2021 11:02am

Pakistan

PM to inaugurate Sheikhupura-Gujranwala road project today

The project will be completed at a cost of over Rs5 billion under public-private partnership
The road will connect the two industrial cities and it will be maintained by a private company for the next 25 years

Published 15 Jan, 2021 10:52am

Stocks

Japan's Nikkei pulls back from 3-decade high, but tech stocks march ahead

Japanese stocks also tracked the US market, which ended lower on Thursday ahead of President-elect Joe Biden's announcement of a stimulus package designed to jump-start the economy.

Published 15 Jan, 2021 11:01am

World

Pence vows to honor U.S. history, ensure safe inauguration of new president

“We all lived through that day - January 6. And as the president made clear yesterday, we are committed to an orderly transition and to a safe inauguration. The American people deserve nothing less,” Pence said during his first public event since the attack that left five people dead.

Published 15 Jan, 2021 10:58am

Energy

US oil may test resistance at $54.19

Wave pattern suggests the progress of a wave 5, which may travel into $55.02-$56.37 range, based on the depth of the wave 4.

Published 15 Jan, 2021 10:59am

Forex

Dollar rebound falters as Fed's Powell strikes dovish tone

The dollar was little changed at 103.76 yen after slipping 0.1% overnight.

Published 15 Jan, 2021 10:56am

Financial

NZ central bank governor apologises after cyberattack resulted in serious data breach

Parry said RBNZ was aware of risks to its IT infrastructure and could have upgraded the 20-year old FTA software, but that it was not a terrible error as the systems were still working.

Published 15 Jan, 2021 10:54am

World

Twitter says White House Twitter accounts will be transferred to Biden admin

Twitter said, it will facilitate transfer of institutional White House Twitter accounts including.

Published 15 Jan, 2021 10:52am

Commodities

Palm oil rises 1%, but set for biggest weekly drop in nearly four months

CBOT soybeans are on track for their fifth weekly gain as the US government's forecast of tightening global supplies supported prices.

Published 15 Jan, 2021 10:51am

World

Xi rewrites China's rags to riches tale

The 66-year-old Zhong is currently ranked the 8th richest man in the world, according to a real-time index from Forbes, ahead of former Google head Larry Page and India's Mukesh Ambani.

Published 15 Jan, 2021 10:48am

Business & Finance

Indonesia's Dec exports, imports beat f'casts, 2020 trade surplus highest in 9 years

Asked whether the momentum for trade recovery could continue, the statistics bureau chief Suhariyanto said fresh coronavirus lockdowns could affect shipments, although the roll out of vaccines would be positive for trade.

Published 15 Jan, 2021 10:44am

Commodities

Spot gold neutral in $1,833-$1,861 range

The failures suggest the completion of a bounce from the Jan. 11 low of $1,816.53.

Published 15 Jan, 2021 10:42am

World

China's new COVID-19 outbreaks

It has sealed off entire cities throughout Hebei province, paying particular attention to the roads connecting Hebei to its neighbour, the Chinese capital Beijing. It is also tracking people who have travelled out of the province since December.

Published 15 Jan, 2021 10:39am

World

US Supreme Court allows execution of condemned men with COVID-19

Lawyers for both men, citing medical experts who testified in court, say their damaged lung tissue would rupture more quickly than usual after lethal doses of pentobarbital, a powerful barbiturate, had been administered.

Published 15 Jan, 2021 10:36am

Business & Finance

Rashakai SEZ: Committee allocates land to Chinese steel conglomerate

The SEZ Committee of Rashakai SEZ allocated 40 acres of land to Century Steel (Pvt) Ltd, owned by M/S Fuzhou Julitaihe International Company; a Chinese conglomerate.

Published 15 Jan, 2021 10:34am

Business & Finance

Japan's exports seen rising for 1st time in 2 yrs, core CPI to drop further

That would the fastest pace of year-on-year drop since September 2010, when the index also fell 1.1%.

Published 15 Jan, 2021 10:34am

Asia

Indonesia parliament drops controversial plan to revise central bank act

The financial bill that lawmakers will deliberate on in 2021 was one drafted by some members of parliament's financial committee alongside the government and submitted for review in November.

Published 15 Jan, 2021 10:30am

Sports

India paceman Saini taken from field injured in fourth test

Saini was examined by medical staff before coming off the pitch rather than bowling the final delivery of his eighth over.

Published 15 Jan, 2021 10:29am

Commodities

China coking coal, coke futures leap as COVID-19 curbs lift supply woes

Capacity utilisation rates at 126 blast furnaces in Tangshan fell to 78.84% this week, down 1.72% from a week earlier, according to Mysteel.

Published 15 Jan, 2021 10:26am

Stocks

Asia shares edge higher as Biden unveils $1.9 trln US stimulus plan

Oil prices, which had risen on a weak dollar and strong Chinese import data, were mixed by midday in Asia as COVID-19 concerns in China hit sentiment.

Published 15 Jan, 2021 10:23am

Companies

Toshiba plans to hold EGM by April-end to address activist challenge

US hedge fund Farallon Capital Management, which owns more than 5% of Toshiba, said the firm should seek shareholder approval over what it said is a change in investment strategy.

Published 15 Jan, 2021 10:21am

Asia

Japan's Hiroshima to conduct large-scale PCR tests to battle COVID-19

The prefecture aims to launch the tests by the end of the month.

Published 15 Jan, 2021 10:18am

World

Japan need for fiscal reform becomes acute after virus stimulus: Aso

Prime Minister Yoshihide Suga's government put priority on the coronavirus response and economic revival over fiscal reform as it has rolled out a combined $3 trillion in economic packages -- two-thirds the size of Japan's gross domestic product.

Published 15 Jan, 2021 10:15am

USA

Mexico plans no criminal charges for former defense minister Cienfuegos

In November, a federal judge granted a US government request to drop drug charges against Cienfuegos and return him to Mexico, which called it a move that would restore trust in the neighbors' severely strained security ties.

Published 15 Jan, 2021 10:13am

World

China air quality improved in 2020 on lockdowns, tougher quality control

Data for December showed, however, that despite the production hikes, average PM2.5 concentrations fell 3.6% to 53 micrograms per cubic metre.

Published 15 Jan, 2021 10:11am

World

Trump administration takes final swipes at China and its companies

Executives of state-owned enterprises, officials of the Chinese Communist Party and military, along with oil giant CNOOC will face new restrictions for allegedly using coercion against states with rival South China Sea claims.

Published 15 Jan, 2021 10:07am

Business & Finance

WEF targets Marina Bay Sands for Singapore's 'Davos' summit

Marina Bay Sands, owned by late billionaire Sheldon Adelson's Las Vegas Sands, is the most globally recognisable building on the wealthy city-state's skyline, regularly featured on postcards and other tourist wares.

Published 15 Jan, 2021 10:05am

Companies

Hyundai Motor Group to build first overseas fuel cell system plant in China

Hyundai Motor Group, which includes Hyundai Motor Co and Kia, did not disclose the investment amount, but added it would work with Chinese firms to participate in Guangdong's hydrogen-related projects.

Published 15 Jan, 2021 10:03am

Stocks

Indian shares edge lower as Infosys, HDFC Bank weigh; Airtel jumps

The blue-chip NSE Nifty 50 index fell 0.5% to 14,529 and the benchmark S&P BSE Sensex was down 0.4% at 49,600.11 by 0411 GMT.

Published 15 Jan, 2021 10:01am

World

Biden's inauguration rehearsal postponed over security concerns, Politico says

The warnings follow last week's assault on the US Capitol by supporters of President Donald Trump that left five people dead.

Published 15 Jan, 2021 09:58am

Financial

Bank of Korea holds fire on rates as new financial risks emerge

But the number of jobs plunged at the sharpest rate in over two decades in December, a sign the recovery is still fragile amid the third wave of the coronavirus currently sweeping the country.

Published 15 Jan, 2021 09:56am

Pakistan

Govt decides today on reopening of schools from January 18

"While I desperately want education to continue the final decision will be on health grounds. Students well being will always be a priority," Shafqat Mahmood said.
The government had decided reopening of schools from class 9th to 12 on January 18.

Published 15 Jan, 2021 09:38am

Business & Finance

Japan to cap wholesale power prices at 200 yen/kWh after squeeze

The price will be capped at 200 yen ($1.93) per kilowatt hour from Jan. 17.

Published 15 Jan, 2021 09:54am

Asia

Thailand reports 188 new coronavirus cases, no new deaths

There were no new deaths reported and 34 of the new cases were imported from abroad.

Published 15 Jan, 2021 09:52am

Stocks

China stocks fall as consumer, liquor firms retreat

In Hong Kong, the Hang Seng index was unchanged at 28,496.98, while the Hong Kong China Enterprises Index lost 0.1% to 11,287.27.

Published 15 Jan, 2021 09:50am

Commodities

Gold edges up on Biden's stimulus proposal

Biden unveiled a $1.9 trillion stimulus package proposal on Thursday designed to jump-start the economy and speed up the US response to the coronavirus pandemic.

Published 15 Jan, 2021 09:45am

Sports

Australia win toss, bat in fourth Test

"We are looking forward to start well. Both the debutants play the shorter formats -- I just want them to enjoy the game.

Published 15 Jan, 2021 09:43am

World

'We cannot afford inaction' on US economy: Biden

"In this moment of crisis... we cannot afford inaction."

Published 15 Jan, 2021 09:41am

World

Hotel collapses, at least three dead in Indonesia quake: official

"Three people are dead and 24 are injured," said National Disaster Mitigation Agency spokesman Raditya Jati.

Published 15 Jan, 2021 09:39am

Stocks

Tokyo stocks lower with eyes on fresh US stimulus

In Tokyo, Canon rallied 5.83 percent to 2,195.5 yen after it revised up forecasts for full-year operating profit.

Published 15 Jan, 2021 09:38am

Stocks

Hong Kong stocks start on back foot

The Hang Seng Index slipped 0.36 percent, or 102.49 points, to 28,394.37.

Published 15 Jan, 2021 09:36am

Technology

China tech giant Xiaomi dives 11% after US blacklisting

The company, one of the world's biggest smartphone makers and considered China's answer to Apple, was one of 11 firms targeted by US officials who said they posed a threat to national security.

Published 15 Jan, 2021 09:33am

World

Patients, staff trapped in rubble of hospital flattened by Indonesia quake

"The hospital is flattened -- it collapsed," said Arianto from the rescue agency in Mamuju city, who goes by one name.

Published 15 Jan, 2021 09:31am

Business & Finance

China's 2020 GDP growth slowest in over four decades: AFP poll

Still, he adds that "we think the remaining part of the recovery will be slower" as lagging growth in production catches up to an initially services-fuelled rebound.

Published 15 Jan, 2021 09:28am

Technology

As Wikipedia turns 20 it aims to reach more readers

Wikipedia continues to be a volunteer-driven effort, with each language site built up independently from original contributions rather than translated articles.

Published 15 Jan, 2021 09:26am

Stocks

Hong Kong stocks flat at lunch

The Hang Seng Index inched up 0.12 points, to 28,496.98.

Published 15 Jan, 2021 09:25am

Stocks

Asian markets mixed after Biden unveils huge stimulus plan

Reassurances from Federal Reserve boss Jerome Powell that record-low interest rates and loose monetary policy would remain in place for some time also removed some lingering angst on trading floors.

Published 15 Jan, 2021 09:23am

Pakistan

The Weather

KARACHI: The weather report on Thursday (January 14, 2021) and the forecast for Friday (January 15, 2021)....

Updated 15 Jan, 2021 09:22am

Pakistan

Pakistan, Azerbaijan reaffirm resolve to enhance cooperation

ISLAMABAD: Pakistan and Azerbaijan, on Thursday, reaffirmed their resolve to comprehensively upgrade cooperation in...

Updated 15 Jan, 2021 09:21am

Pakistan

12 policemen dismissed in Karak Hindu temple attack case

PESHAWAR: KP Inspector General of Police (IGP) Dr Sanaullah Abbasi has terminated 12 police personnel, including two...

Updated 15 Jan, 2021 09:21am

BR Research

An interview with Aiman Bashir, CEO and Co-founder Out-Class

‘We are here to disrupt the tuition academy mindset.’ Out-Class is an ed-tech platform which is the realization...

Published 15 Jan, 2021 07:45am

BR Research

Commercial vehicles: Moving slowly

Commercial vehicles—particularly heavy trucks and buses—are not invoking quite the same confidence as passenger...

Published 15 Jan, 2021 07:40am

BR Research

E&P sector’s charm fading?

From flattish oil and gas levels to declining volumes, production by the E&P companies have been running dry in...

Published 15 Jan, 2021 07:35am

BR Research

LNG and the private sector

Earlier this week, OGRA issued two new gas marketing licenses to Energas and Tabeer. If these have tie and point and...

Published 15 Jan, 2021 07:30am

BR Research

Circular debt: Going nowhere

The circular debt stock had crossed Rs2300 billion by November 2020. The incremental flow of circular debt in five...

Published 15 Jan, 2021 07:25am

Currency	Rate
USD PKR Interbank Selling / Jun 22	278.42
USD PKR Interbank Buying / Jun 22	278.22
USD to Japanese Yen / Jun 23	161.62
USD to Swiss Franc / Jun 23	0.81
Pound Sterling to USD / Jun 23	1.32
Euro to USD / Jun 23	1.14
SOFR % / Jun 22	3.63

Stock	Volume
S&P 500 / Jun 22	7,472.79
Nasdaq / Jun 22	26,166.60
Dow Jones / Jun 22	51,712.71
India Sensex / Jun 23	77,126.37
Tokyo Nikkei / Jun 23	71,682.16
Hang Seng / Jun 23	23,705.66
FTSE 100 / Jun 23	10,371.04
Germany DAX 30 / Jun 23	24,854.19
France CAC40 / Jun 23	8,319.74

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 22	18,780
Gold 10 Grams PKR / Jun 22	378,345
Petrol/Litre / Jun 23	299.50
Crude Oil USD/Barrel / Jun 23	73.59
Gold Spot USD/Ounce / Jun 23	4,122.19
Diesel/Litre / Jun 23	311.47
Cotton US¢/pound / Jun 23	78.19

Stock	Price
Ghani Chemworld Limited (R) / Jun 23 Ghani Chemworld Limited Right(GCWLR)	7.01 ▲ 1 (16.64%)
Buxly Paints / Jun 23 Buxly Paints Limited(BUXL)	228.84 ▲ 20.8 (10%)
Dewan Farooque Sp. / Jun 23 Dewan Farooque Spinning Mills Limited(DFSM)	19.69 ▲ 1.79 (10%)
First Fid. Leasing / Jun 23 First Fidelity Leasing Modaraba(FFLM)	24.75 ▲ 2.25 (10%)
J.A.Textile / Jun 23 J.A. Textile Mills Limited(JATM)	30.47 ▲ 2.77 (10%)
Kohat Textile / Jun 23 Kohat Textile Mills Limited(KOHTM)	193.45 ▲ 17.59 (10%)
Mitchells Fruit / Jun 23 Mitchells Fruit Farms Limited(MFFL)	188.94 ▲ 17.18 (10%)
S.G.Power / Jun 23 S.G. Power Limited(SGPL)	73.59 ▲ 6.69 (10%)
Shadab Textile / Jun 23 Shadab Textile Mills Limited(SHDT)	61.83 ▲ 5.62 (10%)
Fateh Sports / Jun 23 Fateh Sports Wear Limited(FSWL)	101.17 ▲ 9.2 (10%)

Stock	Price
Agritech Non-voting / Jun 23 Agritech Non-Voting Preference(AGLNCPS)	36.02 ▼ -3.98 (-9.95%)
Azgard Nine (Non-Voti) / Jun 23 Azgard Nine (Non-Voti)(ANLNV)	7.20 ▼ -0.73 (-9.21%)
First Tri-Star Mod. / Jun 23 First Tri-Star Modaraba(FTSM)	30.74 ▼ -2.93 (-8.7%)
Aisha Steel (CPS) / Jun 23 Aisha Steel Mills Limited (CPS)(ASLCPS)	62.01 ▼ -5.79 (-8.54%)
Oilboy Energy / Jun 23 Oilboy Energy Limited(OBOY)	20.35 ▼ -1.62 (-7.37%)
Quice Food / Jun 23 Quice Food Industries Limited(QUICE)	34.78 ▼ -2.68 (-7.15%)
Aisha Steel(ConPS) / Jun 23 Aisha Steel(ConPS)(ASLPS)	24.12 ▼ -1.78 (-6.87%)
Shahtaj Textile / Jun 23 Shahtaj Textile Limited(STJT)	138.11 ▼ -10.14 (-6.84%)
Din Tex. / Jun 23 Din Textile Mills Limited(DINT)	80.89 ▼ -5.92 (-6.82%)
East West Ins. / Jun 23 East West Insurance Company Limited(EWIC)	45.50 ▼ -3.04 (-6.26%)

Stock	Volume
K-Electric Ltd. / Jun 23 K-Electric Limited(KEL)	63,830,312 ▲ 0.19
Sui South Gas / Jun 23 Sui Southern Gas Company Limited(SSGC)	24,022,374 ▲ 0.74
TPL Corp Ltd / Jun 23 TPL Corp Limited(TPL)	14,735,648 ▼ -0.31
Oilboy Energy / Jun 23 Oilboy Energy Limited(OBOY)	13,519,059 ▼ -1.62
TPL Properties / Jun 23 TPL Properties Limited(TPLP)	13,417,706 ▼ -0.1
Pak Qatar Family / Jun 23 Pak Qatar Family Takaful Limited(PAKQATAR)	9,811,063 ▲ 1.3
Ghani Chem. Ind. / Jun 23 Ghani Chemical Industries Limited(GCIL)	9,150,941 ▼ -0.14
Sitara Petroleum Service / Jun 23 Sitara Petroleum Service Limited(SPSL)	8,993,307 ▲ 0.33
WorldCall Telecom / Jun 23 Worldcall Telecom Limited(WTL)	8,346,419 ▲ 0.01
Sui North Gas / Jun 23 Sui Northern Gas Pipelines Limited(SNGP)	7,817,249 ▲ 2.38