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Archive - 2021-01-19
UK announces daily record of 1,610 Covid deaths
Europe

UK announces daily record of 1,610 Covid deaths

  • The UK's total Covid-19 death toll now stands at 91,470, with a further 33,355 new cases also reported over the last day, taking the total number of infections to nearly 3.5 million.
Published 19 Jan, 2021 11:20pm
OPEC ‘cautiously optimistic’ oil market will recover in 2021
Energy

OPEC ‘cautiously optimistic’ oil market will recover in 2021

  • We all agree that the recovery is fragile, there are still more uncertainties, but we are cautiously optimistic that the recovery will materialise this year.
  • This year the way we see it is a year of recovery, whether it's going to be the end of the year where we are supposed to reach the balance or the beginning of 2022.
Updated 19 Jan, 2021 11:14pm
UK investors account for 92pc of 2046 gilt syndication sale
Financial

UK investors account for 92pc of 2046 gilt syndication sale

  • The transaction was well received by the market, with the new gilt attracting very strong interest from our core pension fund and asset manager investor base.
  • The size of 6.5 billion pounds, which was larger than originally planned, reflects a very high-quality order book.
Updated 19 Jan, 2021 11:14pm
Pakistan LNG seeks Feb cargoes again after supplier unable to deliver
Energy

Pakistan LNG seeks Feb cargoes again after supplier unable to deliver

  • Pakistan LNG, a government subsidiary that procures LNG from the international market, is seeking the cargoes for delivery over Feb. 15-16 and Feb. 23-24.
  • Pakistan LNG said on Saturday that a supplier, who had submitted the lowest offer in a buy tender that the company closed in late December.
Updated 19 Jan, 2021 11:14pm
Kuwait registers first cases of new virus variant
Middle East

Kuwait registers first cases of new virus variant

  • Kuwait had on Jan. 6 suspended direct commercial flights to and from Britain until further notice.
  • The Gulf Arab state has recorded a total of 158,244 COVID-19 infections and 948 deaths since the coronavirus outbreak.
Updated 19 Jan, 2021 11:13pm
TSX gains on energy boost, wholesale trade data
Stocks

TSX gains on energy boost, wholesale trade data

  • Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment.
  • Toronto Stock Exchange's S&P/TSX composite index was up 6.81 points, or 0.04%, at 17,951.69.
Published 19 Jan, 2021 09:58pm
Mexico plans to administer 7.4mn doses of Sputnik V vaccine by end-March
USA

Mexico plans to administer 7.4mn doses of Sputnik V vaccine by end-March

  • The country could start receiving supplies of the vaccine as soon as next week, according to the plan presented during President Andres Manuel Lopez Obrador's daily morning news conference.
  • Government officials say Mexico is set to purchase 12 million doses of the Russian vaccine.
Published 19 Jan, 2021 09:46pm
Germany's Bilfinger drops out of Nord Stream 2 pipeline
Companies

Germany's Bilfinger drops out of Nord Stream 2 pipeline

  • Concerned over looming US sanctions targeting companies associated with the project.
  • Bilfinger had been contracted to develop, deliver and operate process control and safety systems for the controversial pipeline as well as supply a gas-fired heating generation unit.
Published 19 Jan, 2021 09:24pm
Latest on worldwide spread of the coronavirus
World

Latest on worldwide spread of the coronavirus

  • The European Union wants to set up a mechanism that would allow the sharing of surplus vaccines with poorer neighbouring states and Africa.
  • The EU's executive has warned this month that national plans so far for spending a record 1.8 trillion euros from the bloc's joint coffers were too poor to fly.
Published 19 Jan, 2021 09:11pm
COVID-19 Claims 17 more lives in Sindh
Pakistan

COVID-19 Claims 17 more lives in Sindh

  • The CM said that currently 18,377 patients were under treatment, of them 17,407 were in home isolation, 12 at isolation centers and 958 in different hospital.
Published 19 Jan, 2021 09:08pm
Europe Inc earnings seen jumping 44pc in Q1 despite lockdowns
Stocks

Europe Inc earnings seen jumping 44pc in Q1 despite lockdowns

  • Estimates for the first quarter -- relating to companies listed on the STOXX 600 equity benchmark -- slightly increased compared to last week.
  • For the fourth quarter of 2020, analysts expect a 26.2% drop in earnings, largely unchanged from last week.
Published 19 Jan, 2021 09:07pm
HSBC to axe 82 branches in UK, cut services in others
Money & Banking

HSBC to axe 82 branches in UK, cut services in others

  • The lender said it would be left with 511 branches in the UK following the closures, with many of the remaining branches set to be remodelled with some providing fewer services.
  • HSBC said it had begun trialing different branch formats and decided to provide fewer full service branches focused in large cities and towns.
Published 19 Jan, 2021 08:02pm
Turkish Treasury mandates banks for dollar eurobond issue
Financial

Turkish Treasury mandates banks for dollar eurobond issue

  • IFR said the pricing of the 5-year tranche was in the 5.25% area and pricing of the 10-year tranche was in the 6.25% area.
  • The two issues will be finalised with the 5-year around 5% and the 10-year around 6%. With high demand, its possible they may be a bit lower.
Published 19 Jan, 2021 08:00pm
WHO must be reformed to give it necessary powers
Europe

WHO must be reformed to give it necessary powers

  • "We are not here to assign blame, but to make concrete recommendations to help the world respond faster and better in future," the panel's co-chair Ellen Johnson Sirleaf.
  • "I do believe that WHO is reformable," she said.
Published 19 Jan, 2021 07:48pm
£100m donated to Oxford University for antibiotic resistance research
Europe

£100m donated to Oxford University for antibiotic resistance research

  • On Tuesday, Oxford University received a donation of £100 million ($136 million) to research growing resistance to antibiotics.
  • The donation, contributed by British multinational chemicals production company Ineos, is one of the largest donations given to Oxford University in its long history.
Published 19 Jan, 2021 07:11pm
NAB files corruption reference against CM Sindh
Pakistan

NAB files corruption reference against CM Sindh

  • The Bureau filed the reference in an accountability court of Islamabad.
  • The Chief Minister is facing charges of misusing the power in the disbursement of funds for energy-related projects in Sindh.
Updated 19 Jan, 2021 07:20pm
Blackstone's Schwarzman: New US admin going to take a 'softer tone' towards China
USA

Blackstone's Schwarzman: New US admin going to take a 'softer tone' towards China

  • "There is really a very substantial overlap of interest in these countries and the interest of the world," he said. "I expect to see much less tension."
  • Investors expected more clarity from Biden's administration regarding the rules but were not hopeful for a fundamental change of relationship between the world's two biggest economies.
Published 19 Jan, 2021 07:15pm
Biden taps Levine for key health role, in historic pick of transgender person
USA

Biden taps Levine for key health role, in historic pick of transgender person

  • Levine would serve under Xavier Becerra, Biden's nominee to lead the US Department of Health and Human Services.
  • Levine "will bring the steady leadership and essential expertise we need to get people through this pandemic - no matter their zip code, race, religion, sexual orientation, gender identity, or disability,"
Published 19 Jan, 2021 07:13pm
Bitcoin, US tech stocks seen as biggest market bubbles
Forex

Bitcoin, US tech stocks seen as biggest market bubbles

  • According to nearly 90% of respondents in Deutsche Bank's monthly money-manager study.
  • The cryptocoin hit a record high $40,000 earlier this month, having rallied more than 900% since a low in March and having only just breached $20,000 in mid-December.
Published 19 Jan, 2021 07:11pm
US natural gas futures fall over 5pc on milder forecasts
Energy

US natural gas futures fall over 5pc on milder forecasts

  • That decline came despite near record liquefied natural gas (LNG) exports as global gas prices remain near their highest in years.
  • Front-month gas futures fell 14.6 cents, or 5.3%, to $2.591 per million British thermal units.
Published 19 Jan, 2021 07:07pm
India asks Facebook's WhatsApp to withdraw privacy policy update
Technology

India asks Facebook's WhatsApp to withdraw privacy policy update

  • The demand creates a new headache for WhatsApp and its US parent Facebook, which have placed big bets on the South Asian nation to expand their payments and other businesses.
  • The proposed changes raise grave concerns regarding the implications for the choice and autonomy of Indian citizens.
Published 19 Jan, 2021 06:49pm
Italian bond yields drop ahead of confidence vote
Financial

Italian bond yields drop ahead of confidence vote

  • Conte won a confidence vote in the Chamber of Deputies on Monday as he clung to power after a junior partner quit the ruling coalition and triggered a political crisis.
  • Conte is likely to pass today's confidence vote with a simple majority if Italia Viva abstains as promised.
Published 19 Jan, 2021 06:47pm
Digital work platform Citrix to buy Vista's Wrike for $2.25bn
Companies

Digital work platform Citrix to buy Vista's Wrike for $2.25bn

  • As more companies are choosing to let their employees work remotely on a permanent basis after the COVID-19 pandemic forced office spaces to close during lockdowns.
  • Citrix said it expects to finance the deal with a combination of new debt and existing cash and investments.
Published 19 Jan, 2021 06:35pm
Railways plans to repair 472 coaches
Pakistan

Railways plans to repair 472 coaches

  • He said the factory’s up-gradation plan would be executed in the forthcoming manufacturing plan of locomotives as per requirement of Pakistan Railways.
Published 19 Jan, 2021 06:36pm
Halliburton profit up 60pc on cost cuts, demand recovery
Companies

Halliburton profit up 60pc on cost cuts, demand recovery

  • While demand for equipment and services has recovered as global crude price averaged about $45 per barrel in the last three months of 2020.
  • I am optimistic about the activity momentum I see in North America, and expect international activity to bottom in the first quarter of this year.
Published 19 Jan, 2021 06:28pm
India to start COVID-19 vaccine exports as soon as Wednesday
Companies

India to start COVID-19 vaccine exports as soon as Wednesday

  • The first batch of exports will be shipped to the tiny nation of Bhutan, said the officials, who asked not to be named as the plans are not public.
  • India has received requests from dozens of nations, including urgent appeals from Brazil, to begin exports of the vaccine from the SII centre in the western city of Pune.
Published 19 Jan, 2021 06:19pm
India coach Shastri hails 'one of the greatest series ever'
Sports

India coach Shastri hails 'one of the greatest series ever'

  • India were bundled down for a record low of 36 in Adelaide and regular skipper Virat Kohli left a demoralised team behind him as he returned home to attend the birth of his daughter.
  • I'm not someone who really has tears in my eyes but I had real tears because this is unreal.
Published 19 Jan, 2021 06:08pm
GE aims to freeze UK pension plans to cut costs
Companies

GE aims to freeze UK pension plans to cut costs

  • The company said its pension benefit obligation in the UK was about $14 billion at the end of 2020 and the proposal would help the company cut costs.
  • The proposed changes to our U.K. defined benefit pension offerings are difficult" but help "solidify our financial position.
Published 19 Jan, 2021 06:02pm
Boeing 737 MAX to get EU flight clearance next week
Industry

Boeing 737 MAX to get EU flight clearance next week

  • The EU Aviation Safety Agency (EASA) is one of the last major regulators to approve changes to the MAX and its anti-stall software.
  • We expect to publish it next week, which means the MAX will be cleared to fly again.
Published 19 Jan, 2021 05:55pm
Russia's second vaccine '100pc effective', watchdog tells media
Europe

Russia's second vaccine '100pc effective', watchdog tells media

  • The data, based on Phase I and II trials, were released before the start of a larger Phase III trial which would normally involve thousands of participants and a placebo group as a comparison.
  • The effectiveness of the vaccine is made up of its immunological effectiveness and preventative effectiveness.
Published 19 Jan, 2021 05:42pm
Russian rouble recovers after sell-off led by sanction risk
Forex

Russian rouble recovers after sell-off led by sanction risk

  • Risk of sanctions linked to the arrest of Kremlin critic Alexei Navalny upon his return to Russia for the first time since being poisoned last summer hit the rouble on Monday.
  • Rouble was 0.3% stronger against the dollar at 73.75 and was flat against the euro, trading at 89.45.
Published 19 Jan, 2021 05:39pm
Coronavirus slows Czech car output to six-year low in 2020
Industry

Coronavirus slows Czech car output to six-year low in 2020

  • Shutdowns in the early weeks of the coronavirus crisis hammered output but the Czech Republic's three car plants came close to matching 2019 production in the second half of 2020.
  • This has bolstered industrial output figures in the country of 10.7 million people.
Published 19 Jan, 2021 05:33pm
Pakistan's Prosperity Index reaches all-time high in November 2020: Report
Pakistan

Pakistan's Prosperity Index reaches all-time high in November 2020: Report

  • On Monday, the Policy Research Institute of Market Economy (PRIME) released a report that stated that Pakistan's Prosperity Index continues to follow an upward trend, reaching an all-time high of 116.3 in November 2020.
  • Despite inflationary pressures and the second wave of the COVID-19 pandemic, over a 12-month period improvements in trade volume and output of large-scale manufacturing coupled with a modest increase in private sector lending led to an uptick in economic prosperity.
Updated 19 Jan, 2021 05:36pm
Iraq delays general election to Oct 10
Middle East

Iraq delays general election to Oct 10

  • The elections been brought forward to June 6, roughly a year early, following a proposal by Iraq's Independent High Election Commission (IHEC).
  • Early elections were a key demand of anti-government protesters who staged mass demonstrations that started in October 2019.
Published 19 Jan, 2021 05:28pm
Parler partially reappears with support from Russian technology firm
Technology

Parler partially reappears with support from Russian technology firm

  • Parler vanished from the internet when dropped by Amazon Inc’s hosting arm and other partners for poor moderation after its users called for violence and posted videos glorifying the Jan. 6 attack on the U.S. Capitol.
  • On Monday, Parler’s website was reachable again, though only with a message from its chief executive saying he was working to restore functionality.
Updated 19 Jan, 2021 04:40pm
Uganda accuses U.S. of subversion after envoy tries to visit Wine's house
Africa

Uganda accuses U.S. of subversion after envoy tries to visit Wine's house

  • Uganda’s government spokesman accused the United States on Tuesday of trying to subvert last week’s presidential elections after the U.S. ambassador attempted to visit an opposition leader being held under house arrest.
  • The sharp, public rebuke to the United States from the Ugandan government is relatively unusual as the two nations are allies.
Updated 19 Jan, 2021 04:40pm
PDM protest: PM Imran directs Shaikh Rashid not to stop peaceful protestors
Pakistan

PDM protest: PM Imran directs Shaikh Rashid not to stop peaceful protestors

  • The 11-party opposition alliance aka Pakistan Democratic Movement (PDM) is gearing up to protest outside the Election Commission of Pakistan (ECP) later in the day.
  • The Interior Minister called on PM Imran and briefed him about the security arrangements ahead of PDM’s protest in the federal capital.
Published 19 Jan, 2021 04:09pm
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