News Archives for Latest - 2021-01-22

Business & Finance

State Bank MPC maintains policy rate unchanged at 7pc

There could be some changes in the projection due to change in electricity rates, and international oil prices but it will be temporary, said Baqir.
“It is very important that at present the monetary policy should convey a message of stability,” the SBP Chief said.
The yearly inflation rate is projected to remain at 7-9pc as previously announced.

Updated 23 Jan, 2021 10:52am

Pakistan

Karachi to experience cold, windy weather on Saturday: Met Office

The minimum temperature is expected to remain from 11 to 13 degree centigrade, with 70 to 80 percent humidity, in Karachi over the next 24 hours.

Published 22 Jan, 2021 11:52pm

Pakistan

Passing oil prices impact unavoidable to avert further debt burden: PM

He said the devaluation of rupee impacted the prices of petroleum products, pulses, ghee and other imported items raising the inflation rate.

Published 22 Jan, 2021 11:49pm

Pakistan

Govt takes initiatives for supporting SMEs to open jobs: SAPM

He said that the young people, after acquiring adequate skills, could get support from Kamyab Jawan Program, and utilize their energies in small enterprises.

Published 22 Jan, 2021 11:47pm

Pakistan

Vawda asks PML-N leader to disclose misuse of huge funds in Broadsheet matter

Voicing serious concerns over stealing of massive amount during the last regime of PML-N, he said the whole nation wanted to know about misuse of Rs.14,000 crore.

Published 22 Jan, 2021 11:45pm

World

WHO, Pfizer strike Covax deal for 40mn Covid vaccine doses

"I'm glad to announce that Covax has signed an agreement with Pfizer-BioNTech for up to 40 million doses of its Covid-19 vaccine,"

Published 22 Jan, 2021 11:43pm

Companies

United Airlines launches new employee exit deals with pay, memo shows

Chicago-based United said on Wednesday that it planned to offer voluntary leave options for employees as part of an effort to cut about $2 billion of annual costs through 2023.
It ended up furloughing around 13,000 employees last October when an initial round of payroll aid for airlines that banned job cuts expired.

Published 22 Jan, 2021 09:38pm

Stocks

Wall St slips as IBM, Intel falter after results

IBM hits two-month low on quarterly revenue miss.
Intel slips on avoiding outsourcing embrace.
Senate to vote on Yellen's Treasury secretary nomination.
Indexes: Dow down 0.54%, S&P falls 0.27%, Nasdaq flat.

Published 22 Jan, 2021 09:36pm

USA

Yellen wins unanimous Senate panel vote for Treasury despite Republican tax, debt concerns

Yellen's nomination was approved 26-0 in the evenly split committee, with concerns expressed by Republicans about President Joe Biden's ambitious plans for massive coronavirus relief spending.
There is no question she is qualified for this role.

Published 22 Jan, 2021 09:34pm

Commodities

Gold falls over 1pc, pinched by firm dollar but on course for weekly gain

Platinum slips from over 4-yr high, but set for 2nd weekly gain.
US gold futures fell 0.8% to $1,851.50.

Published 22 Jan, 2021 09:32pm

Energy

US natural gas falls to 3-week low despite big storage draw

The US Energy Information Administration (EIA) said US utilities pulled 187 billion cubic feet (bcf) of gas from storage in the week ended Jan. 15. * Front-month gas futures fell 4.7 cents, or 1.9%, to $2.444 per million British thermal units.

Published 22 Jan, 2021 09:30pm

Financial

Inflation expectations ease as yields slip

Treasury yields traded lower after a strong auction on Thursday of $15 billion in 10-year TIPS as investors sought protection on expectations of rising inflation.
A closely watched part of the yield curve measuring the gap between yields on two- and 10-year Treasury notes was last down 1.32 basis points at 96.93 basis points.

Published 22 Jan, 2021 09:29pm

Energy

Crude stocks jump in most recent week: EIA

Crude inventories rose by 4.4 million barrels in the week to Jan. 15, compared with analysts' expectations for a decrease of 1.2 million barrels.
Refinery crude runs rose by 110,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.5 percentage points.

Published 22 Jan, 2021 09:27pm

Forex

FX traders brush off ECB talk, bet euro-dollar has further to run

European Central Bank boss Christine Lagarde said on Thursday the bank was closely watching the euro, which surged 9% last year to above $1.23, its biggest annual gain in four years.
It's a headwind for exporters too as companies in Germany's DAX index derive 70% of their sales outside Europe.

Published 22 Jan, 2021 09:25pm

Europe

EU urges Ivory Coast to comply with new sustainable cocoa laws

The European consumer wants to eat chocolate without having to think about child labour, deforestation or the poverty of those who grow cocoa.
The EU represents the leading destination for Ivorian beans, accounting for 67% of the country's cocoa exports.

Published 22 Jan, 2021 09:23pm

Pakistan

Indian firing at LoC injures teen girl: ISPR

Pakistan Army responded to the Indian actions in a befitting manner and targeted the enemy posts along the LoC, said military’s media wing.
The Indian forces fired mortar rounds at the Pakistani side of the LoC and injured 18-year-old Ansa Siddique during the unprovoked firing.

Updated 22 Jan, 2021 09:24pm

Forex

Dollar edges up after 3-day losing streak as risk rally pauses

Dollar pares gains after upbeat US data.
Aussie and Kiwi dollar fall.
Dollar gains vs yen after dour Japanese data.

Published 22 Jan, 2021 09:21pm

Europe

German CDU confirms Laschet as new leader in postal ballot

Laschet, premier of Germany's most populous state and the self-styled Merkel continuity candidate, won 83.35% of the valid postal votes cast by 1,001 delegates.
"The CDU remains Germany's Europe party," Laschet told reporters, stressing that he wanted his leadership of the party to be marked by dialogue with its grass roots.

Published 22 Jan, 2021 09:16pm

Pakistan

COVID-19: China's CanSino to offer Pakistan 20 million doses

Company has already applied with Pakistan’s drug regulator (Drug Regulatory Authority of Pakistan) to get approval.
There might be a 25% decrease in procurement costs as the company claims it will fill vaccine vials in Pakistan.

Updated 22 Jan, 2021 09:17pm

Sports

Leicester's Vardy to have hernia operation, says Rodgers

Vardy, 34, has scored 11 Premier League goals this season and is in the running for the golden boot but Rodgers said the hernia operation could not be put off any longer.
"It's one that doesn't keep him out for too long. It's a repair around that area. It's one that we feel we can't put off much longer.

Published 22 Jan, 2021 09:13pm

Sports

We must change the way we play to build confidence, says Liverpool's Klopp

We go again, there's no doubt about that. When things don't work out on the pitch as we want them to, there's an issue.
Confidence is not naturally given to normal people so some things have to work out to build confidence. It didn't work out in the final third for us in the last few games.

Published 22 Jan, 2021 09:11pm

USA

US factory activity races to more than 13-1/2-year high in early January

Data firm IHS Markit said on Friday its flash US manufacturing PMI accelerated to a reading of 59.1 in the first half of this month.
The IHS Markit survey's measure of new orders received by factories raced to its highest level since September 2014.

Published 22 Jan, 2021 09:10pm

Companies

BioNTech says offering 50mn needles to extract more vaccine doses

European Union countries have been rushing to secure supplies of special syringes with so-called low dead space that are needed to eliminate waste of vaccine when administering the shots.

Published 22 Jan, 2021 09:08pm

Forex

Canadian dollar pares weekly gain as oil and stocks slide

Canadian dollar weakens 0.5% against the greenback.
Canadian retail sales jump by 1.3% in November.
Price of US oil falls 2.4%.
Canadian bond yields ease across a flatter curve.

Published 22 Jan, 2021 09:07pm

Africa

Zambia, IMF to hold talks on credit facility from next month

The programme discussions will centre of the government's objectives to attain fiscal and debt sustainability.

Published 22 Jan, 2021 09:06pm

Stocks

Equities dip, oil slides as global risk rally stalls

The Euro STOXX 600 was 1% weaker, heading for its worst daily showing of the year so far.
The FTSE 100 index slipped 0.7% as data showed British retailers struggled to recover in December from a partial coronavirus lockdown the previous month.

Published 22 Jan, 2021 09:04pm

Financial

Italian risk premium highest since November as focus shifts to elections

Italian bond yields rise further as politicians cast attention on snap elections.
Risk premium rises to highest since November.
10-year yields set for biggest weekly jump since April.
German yields dip after PMI readings.

Updated 22 Jan, 2021 09:04pm

World

Twitter suspends account of top Iran leader Khamenei after he posted a call for an attack on Trump

The development was made after he posted a depiction of a man resembling the former US president playing golf in the shadow of a warplane or large drone.
The tweet from Ayatollah Khamenei's account refers to General Qasem Soleimani, who was assassinated by a US drone in Baghdad a year ago.

Updated 22 Jan, 2021 08:41pm

Sports

Bencic hopes Open organisers make it fair for players in isolation

At the end of isolation the players are scheduled to participate in tune-up events from Jan. 31 at Melbourne Park before the Feb. 8-31 Grand Slam at the same venue.
Now I feel more positive about it and I'm trying to do the most I can do to get out of quarantine.

Published 22 Jan, 2021 08:35pm

Forex

Latam FX falls as dollar rises, Brazil real lags peers for the week

Brazilian real set for weekly losses of 2%.
Dollar gains for the first time in four days.
Chilean peso outperforms Latam peers for the week.

Published 22 Jan, 2021 08:33pm

Companies

GM warns Indian state's move to block its exit could hit investment

GM's comments came after authorities in Maharashtra earlier this week rejected the automaker's application to cease operations at its plant in the western Indian state amid protests by workers.
In January 2020, it agreed to sell its second factory in the state's Talegaon district to Chinese automaker Great Wall Motor Co.

Published 22 Jan, 2021 08:31pm

South Asia

Indian farmers to step up protests after rejecting offer to defer controversial new laws

Farm leaders said hundreds of thousands of farmers from neighbouring states including Haryana, Punjab and western Uttar Pradesh would drive tractors through New Delhi on January 26.
There is a sort of deadlock as the government repeated the offer of deferring the laws, which is not acceptable.

Published 22 Jan, 2021 08:28pm

Commodities

Wheat down 10-15 cents, corn down 4-8, soybeans down 15-20

Wheat lower for a fourth straight session on profit-taking and technical selling, and on spillover pressure from lower corn and soybeans.
CBOT March soft red winter wheat last traded down 12-3/4 cents at $6.48 per bushel.

Published 22 Jan, 2021 08:27pm

Technology

Developer complains to EU over Apple, Google app rules after COVID game rejected

Several developers have challenged Google and Apple over their app policies, triggering calls for regulatory action as nearly all smartphones outside restricted markets such as China come with either Google's Play store or Apple's App Store.
In the United States, state attorneys general are planning a lawsuit against Google over its Play Store for Android phones following complaints.

Published 22 Jan, 2021 08:25pm

Energy

Pakistan LNG seeks more cargoes through emergency tender

Record high spot LNG prices due to freezing temperatures in North Asia are forcing emerging economies such as Pakistan to ration gas and seek alternative fuels.
Pakistan LNG, a government subsidiary that procures LNG from the international market, is seeking three cargoes for delivery over March 11 to 12.

Published 22 Jan, 2021 08:23pm

Commodities

Sugar hits 1-week low on risk-off sentiment; cocoa, coffee fall

March raw sugar fell 0.9% to 15.92 cents per lb.
March London cocoa fell 1.4% to 1,717 pounds per tonne.
March arabica coffee fell 1.5% to $1.2455 per lb.

Published 22 Jan, 2021 08:21pm

Energy

Even without Keystone XL, US set for record Canadian oil imports

Canada exports about 3.8 million bpd to the United States, according to US Energy Department data.
Whatever limited benefit that Keystone was projected to provide now has to be obviously reconsidered with the economy of today.

Published 22 Jan, 2021 08:19pm

USA

Canadian retail sales jump in November, but December looks gloomier

Food and drink sales rose by 5.9% and helped push overall retail trade up by 1.3%.
Most retail businesses were open in November but as the second wave of the coronavirus spread.

Published 22 Jan, 2021 08:17pm

Stocks

Wall St slips at open as IBM, Intel weigh

The Dow Jones Industrial Average fell 34.4 points, or 0.11%, at the open to 31141.56.
The S&P 500 fell 8.8 points, or 0.23%, at the open to 3844.24.

Published 22 Jan, 2021 08:16pm

Companies

Russia starts paying Belarus compensation for dirty oil

The compensation for the dirty oil, which showed up in the Druzhba pipeline in April 2019 and rattled European oil markets.
The total payment will equate to roughly $15 per barrel, the highest possible level of compensation promised by the Russian oil pipeline monopoly Transneft.

Published 22 Jan, 2021 08:13pm

Industry

United Group buys Bulgaria's Nova Broadcasting Group

United Group did not disclose a price for Nova, which owns 10 television channels.
United Group, which acquired Bulgaria's leading telecoms operator Vivacom last year.

Published 22 Jan, 2021 08:12pm

Companies

Mexico may delay second Pfizer vaccine doses, allows private orders

We're seeing if we need to expand the time period to 35 days.
The Pfizer vaccine is currently the only one being administered in Mexico, which has reported the fourth-highest death toll from the pandemic worldwide.

Published 22 Jan, 2021 08:07pm

Companies

Morocco gets 2mn AstraZeneca vaccine doses; 1st big shipment to Africa

The consignment arrived on a Royal Air Maroc flight from India, which began exporting the vaccine.
World Health Organization Director-General Tedros Adhanom Ghebreyesus this week described the unequal access poor countries had to COVID-19 vaccines as a "catastrophic moral failure".

Published 22 Jan, 2021 08:05pm

Stocks

TSX opens lower as energy, materials stocks drag

The Toronto Stock Exchange's S&P/TSX composite index was down 104.32 points, or 0.58%, at 17,811.88.

Published 22 Jan, 2021 08:03pm

Europe

‘Delays cost lives’: Baltic states seek swift EU approval for AstraZeneca vaccine

The European Medicines Agency said last week it would review the vaccine developed by AstraZeneca and Britain's Oxford University this month under an accelerated timeline.
Precision of procedures matters. But so does speed. The delays cost lives.

Published 22 Jan, 2021 08:02pm

Industry

Reliance profit jumps as costs fall; revenue slides 21pc on oil hit

Reliance said on Friday its consolidated profit rose to 131.01 billion rupees ($1.79 billion) in the quarter ended Dec. 31 from 116.40 billion rupees a year earlier.
Analysts on average had expected a profit of 110.09 billion rupees, according to IBES data from Refinitiv.

Updated 22 Jan, 2021 08:02pm

Commodities

Ivory Coast cocoa exporters curb exposure and inventories amid glut

"You have to adapt or lose a lot of money on LID," a director of an Abidjan-based international cocoa company said, requesting to remain anonymous because of the sensitivity of the issue.
Exporters said most of the cocoa purchased between October and December will now be used to honour around 80% of the January-March contracts.

Published 22 Jan, 2021 07:19pm

Europe

Irish court grants extension to Norwegian Air's debt restructuring

The extension to Feb. 25 was granted after a lawyer representing the Irish examiner told the court that the examiner believed the budget carrier had a reasonable prospect of survival.
I will grant that application and extend the time for reporting... to the 25th of February.

Published 22 Jan, 2021 07:18pm

Industry

Japan's 2020 crude steel output drops 16pc amid COVID-19 crisis

Steel production for the October to December quarter slid 7.0% from a year earlier to 21.99 million tonnes.
Output in December fell 3.3% year on year to 7.53 million tonnes, the tenth straight monthly decline, though it rose 3.6% from November.

Published 22 Jan, 2021 07:15pm

Companies

Amazon to hike fees for Spanish users after new digital tax

An Amazon spokesman confirmed the so-called Google tax, which Spain began charging on revenues of large digital companies from Jan. 21, would hit users of its services.
The Amazon document confirmed an earlier report by Spanish online media El Confidencial.

Published 22 Jan, 2021 07:13pm

Europe

EU will seek clarification from Pfizer over new vaccine delays

"We will seek clarification from the company," the spokesman told a news conference in reply to a question about a new slowdowns in deliveries reported by EU countries for next week.

Published 22 Jan, 2021 07:11pm

Europe

Erdogan says 10mn CoronaVac doses could reach Turkey by weekend

"(The second consignment) was approved in China," Erdogan told reporters in Istanbul. "It is highly probable that it could come by the end of this week. We expect 10 million to come."
Some 600,000 people were vaccinated in two days when the rollout began just over a week ago, but the pace later slowed.

Published 22 Jan, 2021 07:08pm

South Asia

China authorises coast guard to fire on foreign vessels if needed

China has maritime sovereignty disputes with Japan in the East China Sea and with several Southeast Asian countries in the South China Sea.
The coast guard is allowed to use "all necessary means" to stop or prevent threats from foreign vessels.

Published 22 Jan, 2021 07:04pm

Companies

Moody's warns over Italy's credit rating if unable to manage EU funds

Conte scraped through a confidence vote last week after coalition partner and former prime minister Matteo Renzi triggered a crisis by quitting the ruling majority.
In November Moody's affirmed Italy's sovereign credit rating at "Baa3".

Published 22 Jan, 2021 07:02pm

USA

How US CDC missed chances to spot COVID's silent spread

"CDC does not approve this study," an official at the quarantine site wrote to Lawler in a Feb. 8 email obtained by Reuters. "Please discontinue all contact with the travelers for research purposes."
At a crucial moment in the pandemic when Americans were quarantined after possible exposure to the virus abroad.

Published 22 Jan, 2021 06:58pm

Companies

Schlumberger profit rises on cost cuts, oil demand recovery

Easing COVID-related restrictions has helped reverse the decline in oil demand and prices.
Le Peuch added that the stage is set for oil demand to recover to 2019 levels by 2023 or even earlier as some analysts have noted.

Published 22 Jan, 2021 06:56pm

Forex

Rouble slumps towards 75 vs dollar as geopolitical risks wipe out recovery

The rouble was 1.2% weaker against the dollar at 74.78, earlier slipping to 74.9975.
Some investors were also taking profits after an emerging market currency rally this week, driven by hopes of a $1.9 trillion U.S fiscal stimulus package.

Published 22 Jan, 2021 06:49pm

USA

Walmart expands vaccinations in boost to US COVID-19 program

The move from the world's largest retailer comes as US President Joe Biden races to accelerate a frustratingly slow vaccination campaign.
Walmart is already vaccinating healthcare workers in New Mexico and its home state of Arkansas.

Published 22 Jan, 2021 06:47pm

Sports

Mathews ton settles cautious Sri Lanka in first test v England

Mathews then came to the crease and settled the innings with his 11th test ton and first at Sri Lanka's most iconic venue.
Anderson produced early reward for England having replaced Stuart Broad in a rotation of the seam attack.

Published 22 Jan, 2021 06:41pm

Financial

Iceland proposes selling up to 35pc stake in Islandsbanki

The committees suggest selling at least 25% and up to a maximum of 35%.
The government planned raise at least $250 million by selling 25% of the bank in a domestic listing.

Published 22 Jan, 2021 06:38pm

Europe

Hungary buys Russia's Sputnik V vaccine, first in EU, minister says

Under the terms of our agreement, we are buying an amount sufficient to inoculate 1 million people.
This represents 2 million doses in three tranches. An amount to inoculate 300,000 people in the first month.

Published 22 Jan, 2021 06:35pm

USA

Mexico early-January prices rise faster than expected

The median forecast of 12 analysts polled by Reuters was for inflation to tick up to 3.17% in early January from 3.08% in the second half of December.
The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.24% in early January.

Published 22 Jan, 2021 06:30pm

Stocks

Sri Lankan shares end at record high on optimism over AstraZeneca's virus vaccine nod

The benchmark stock index ended up 4.09% at 8,463.43. The index gained 9.4% for the week, its best weekly performance since May 2009.
Trading volume on the CSE All Share Index rose to 590.37 million from 377.65 million in the previous session.

Published 22 Jan, 2021 06:27pm

Europe

UK body sets billion-pound budget for COVID financial firm collapses

The Financial Services Compensation Scheme's (FSCS) budget of 1.04 billion pounds for the 2021/22 financial year that starts in April is its highest in six years.
In any other sector, a forecast for compensation of over one billion pounds would be the focus of national scandal.

Published 22 Jan, 2021 06:16pm

Companies

Alstom, China's Power Construction Corp sign MOU on 4.4bn euro Serbia metro

The project is valued at 4.4 billion euros ($5.36 billion) consists of two lines to be build in succession - one 22 kilometre-long and the other of 19.8 km.
The drilling of the tunnels should start the next year.

Published 22 Jan, 2021 06:14pm

Stocks

Blackstone-backed Patria prices IPO above expected range, at $17 per share

Patria sold 16.65 million shares, while Blackstone offered 10 million shares, all together worth at least $453 million.
Patria's IPO comes as asset managers in Brazil are seeing record inflows from investors.

Published 22 Jan, 2021 06:12pm

Companies

Investors sue Bayer over stock's slump in wake of Roundup litigation

Bayer conducted appropriate due diligence regarding the acquisition process.
This has also been confirmed by the studies of independent experts.

Published 22 Jan, 2021 06:10pm

Sports

Japan and IOC deny that Olympics will be cancelled

Japan says Games to go ahead as planned from July 23.
Times report says government accepted need to cancel event.
Major National Olympic Committees say Games on schedule.

Published 22 Jan, 2021 06:08pm

Energy

Oil down 2pc as China COVID-19 cases trigger clampdowns

Shanghai reports first locally transmitted cases in 2 months.
Focus on EIA inventory data due Friday.
Vaccine-fueled recovery likely several months away.

Published 22 Jan, 2021 06:05pm

Commodities

Copper slips as China's coronavirus outbreak raises demand fears

Benchmark copper on the London Metal Exchange (LME) was down 1.8% at $7,877.50 a tonne.
Stocks in LME-registered warehouses have plunged to 1,030 tonnes, near record lows, with almost 40% already earmarked for delivery.

Published 22 Jan, 2021 06:03pm

Pakistan

Assets beyond means case: Khawaja Asif sent to jail on judicial remand

The case was heard by the accountability court’s judge Jawadul Hassan, where accused was produced before the court in strict security.
During the proceedings, the National Accountability Bureau (NAB)’s legal representative sought physical remand of Pakistan Muslim League Nawaz (PML-N) leader.

Updated 22 Jan, 2021 06:05pm

Commodities

Tunisia buys soft wheat, durum wheat and feed barley in tender

Tonnage bought was initially unclear. The tender had sought 92,000 tonnes of soft wheat, 92,000 tonnes of durum wheat and 75,000 tonnes of barley.
Lowest price for the soft wheat was initially estimated at $314.98 a tonne c&f.

Published 22 Jan, 2021 06:01pm

Companies

Turning corona corner, Volkswagen's profit falls less than feared

2020 adj op profit 10 bln euros vs 19.3 bln in 2019.
VW says deliveries recovered strongly in Q4.
Shares hit 11-month high.

Published 22 Jan, 2021 06:00pm

Pakistan

Hamza Shahbaz withdraws bail plea in SC

The judge questioned the legal representative of Hamza whether the petitioner would continue to pursue the case or withdraw his plea.
Hamza was arrested in June 2019 from inside the LHC in relation to two cases pertaining to money laundering and accumulating assets beyond means of income.

Updated 22 Jan, 2021 06:01pm

Europe

UK police break up COVID rule-breaching wedding with 400 guests

Weddings are currently supposed to take place only under "exceptional circumstances".
We are absolutely horrified about last night's event and condemn it in the strongest possible terms

Published 22 Jan, 2021 05:57pm

Forex

Dollar inches up after three-day losing streak; risk currencies fall

The dollar index was still on track for its biggest weekly loss since mid-December.
The Australian dollar fell after disappointing retail sales data, but was still set for a weekly rise.

Published 22 Jan, 2021 05:55pm

Financial

Greece to auction six-month T-bills on Jan 27

The agency last sold six-month T-bills in late December, when the paper was priced to yield -0.22%.
Primary dealers can submit non-competitive bids for up to an additional 30% of the auctioned amount until Jan. 28.

Published 22 Jan, 2021 05:52pm

Stocks

Stocks ease as gloomy data takes shine off US stimulus hopes

Euro zone business activity shrank in January, survey shows.
Italy 10-year benchmark yield at highest since November.
Sentiment also hit by China virus restrictions.
Oil, gold weaker.

Published 22 Jan, 2021 05:44pm

Europe

Denmark suspends UAE flights over virus test concerns

All air passengers arriving in Denmark need to show a negative virus test from the previous 24 hours.
The flight ban will run from Friday until Wednesday, during which time Denmark will not accept any negative tests from the UAE.

Published 22 Jan, 2021 05:41pm

Pakistan

Sadiq Sanjrani backs Senate polls through open ballot

In his reply submitted in the apex court, the chairman said that Senate polls are held through secret ballot as per the Election Act 2017.
“The Parliament has the prerogative to make amendments in the law, while the Supreme Court has right to interpret the constitution,” he wrote.

Updated 22 Jan, 2021 05:43pm

Europe

Double-dip Europe recession 'increasingly inevitable': PMI

A double-dip recession for the eurozone economy is looking increasingly inevitable as tighter Covid-19 restrictions took a further toll on businesses in January.
This was due to the "ongoing relative resilience of manufacturing, rising demand for exported goods.

Published 22 Jan, 2021 05:40pm

Europe

Russia 'welcomes' Biden proposal to extend New START treaty

"We can only welcome the political will to extend this document," Kremlin spokesman Dmitry Peskov.
She said the extension was needed now more than ever given "adversarial" ties between Russia and the United States.

Published 22 Jan, 2021 05:36pm

Europe

UK economy faces another recession on virus curbs: survey

The composite purchasing managers' index (PMI) sank to an eight-month low at 40.6 points, compilers IHS Markit and the Chartered Institute of Procurement and Supply (CIPS) said.
The shift below 50 -- indicating contraction -- compared with 50.4 in December.

Published 22 Jan, 2021 05:34pm

Europe

In call, EU chief urges Putin to release Navalny

The EU had already condemned an attempt to assassinate Navalny and his arrest on his return to Russia after treatment, but Michel has now expressed "grave concerns" directly to Putin.
Navalny's allies are planning demonstrations on Saturday in dozens of Russian cities in support of the Kremlin critic.

Published 22 Jan, 2021 05:31pm

Technology

Alphabet closes down internet balloon network project 'Loon'

Loon was deployed to provide internet in Puerto Rico after Hurricane Maria in 2017, as well as after a major earthquake in Peru.
Operations will be wound down in "the coming months", with the hope that Loon employees will be redeployed at Alphabet, the firm said.

Published 22 Jan, 2021 05:26pm

Sports

Zidane tests positive for COVID-19

The former French international will now enter a period of self-isolation.
“Real Madrid CF announces that our coach Zinedine Zidane has tested positive for Covid-19,” says the club.

Updated 22 Jan, 2021 05:27pm

Top Iran leader posts Trump-like golfer image, vows revenge

USA

German virus death toll tops 50,000 as new cases ease

The Robert Koch Institute (RKI) disease control centre said 859 people died from the virus in the past 24 hours, bringing the total number of fatalities to 50,642.
"That is a distressing, incomprehensible number to me," RKI chief Lothar Wieler told reporters.

Published 22 Jan, 2021 05:20pm

Companies

Volkswagen operating profit drops by half in 2020

2020 adj operating profit 10 bln euros vs 19.3 bln in 2019.
VW says deliveries recovered strongly in Q4.
Shares turn positive.

Published 22 Jan, 2021 05:16pm

South Asia

Malaysia reports 3,631 new coronavirus cases with 18 new deaths, highest daily fatalities

That brings total infections in the Southeast Asian country to 176,180 cases and 660 total deaths.

Published 22 Jan, 2021 05:14pm

Stocks

Stocks weaken, most currencies ease as risk-on rally halts

Stocks in the CEE region fell, tracking the decline of their European peers as data showed euro zone business activity shrank in January amid renewed coronavirus lockdowns.
Budapest's index led losses, falling 1.31%. Warsaw lost 0.55%. Bucharest was down 0.41%.

Published 22 Jan, 2021 05:13pm

Commodities

China's copper imports slide in fourth quarter of 2020

Sliding stocks in LME approved warehouses to support copper
Reasons for the expected lull include scrap, which typically starts to emerge at high prices.

Published 22 Jan, 2021 05:11pm

Energy

Iran's oil exports rise 'significantly' despite sanctions, minister says

Minister does not give figures to rise in crude exports.
Tough US sanctions impose by Trump in 2018.
Tehran urges Biden to rejoin nuclear deal, end sanctions.
Biden officials say no quick decision on nuclear pact.

Published 22 Jan, 2021 05:09pm

Stocks

Indian shares end lower as banks, metals drag; Reliance results in focus

The blue-chip NSE Nifty 50 index fell 1.5% to 14,371.90 and the benchmark S&P BSE Sensex fell 1.5% to 48,878.54.
There is some market fatigue that is creeping in after a massive rally. Even though foreign investors remain net buyers in the market their numbers have come down sharply.

Published 22 Jan, 2021 05:07pm

USA

After big hack of US government, Biden enlists 'world class' cybersecurity team

It is great to see the priority that the new administration is giving to cyber.
The leading candidate for Cyber Director is Jen Easterly, a former high ranking National Security Agency official, according to four people familiar with the selection process.

Published 22 Jan, 2021 05:03pm

USA

Yellen vote in US Senate committee to test support for Biden economic plan

Yellen, who would be the first woman to head Treasury after breaking that same barrier as Federal Reserve chair from 2014 to 2018.
Republican Senator Pat Toomey, a longtime fiscal hawk, said at Yellen's hearing: "We're looking at another spending blowout."

Published 22 Jan, 2021 05:00pm

Money & Banking

Kazakhstan central bank expected to keep policy rate unchanged

Eight of 10 analysts polled this week predicted no change at the Jan. 25 meeting. One forecast a cut to 8.75% and another one an increase to 9.25%.
Annual inflation accelerated to 7.5% in December, the highest since October 2017, from 7.3% a month earlier.

Published 22 Jan, 2021 04:46pm

Technology

Apple to bring a thinner MacBook Air with Magnetic Charger

Apple Inc. plans on launching a thinner and lighter MacBook Air with a magnetic charger during the second half of this year or in 2022.

Updated 22 Jan, 2021 05:00pm

Energy

High-voltage power line linking France to Britain starts at full capacity

With a capacity of 1 gigawatt, the direct current power cable, called Interconnexion France-Angleterre 2 (IFA-2).
Wholesale power traders started buying capacity on Thursday to transport power across the 149-mile subsea power cable.

Published 22 Jan, 2021 04:44pm

Europe

German government sees 2021 GDP growth of 3pc

German Economy Minister Peter Altmaier is due to present the government's official forecast next week. The new number was first reported by Der Spiegel magazine earlier on Friday.
The government introduced a lockdown in November, and tightened measures further in December and January.

Published 22 Jan, 2021 04:43pm

Commodities

Gold slips as dollar firms, still heading for best week in five

Silver poised for best week in five, up 1.5% so far.
Platinum slips from over 4-yr high, but set for 2nd weekly gain.

Published 22 Jan, 2021 04:41pm

Money & Banking

As pandemic prolongs easing, BOJ warms to idea of wider band for yield target

Kuroda signals wider band on YCC among possibilities.
Allowing yields more flexibility key to March review.
Findings of review will be package of steps - ex-BOJ official.
More flexibility could take teeth out of YCC.

Published 22 Jan, 2021 04:37pm

Commodities

Russia's Sovecon ups forecast for Russia's 2021 wheat crop

"Heavy snowfall in recent weeks is likely to boost moisture reserves, which were abnormally low after a dry autumn," Sovecon, one of the leading agriculture consultancies in Moscow.

Published 22 Jan, 2021 04:34pm

Africa

Another storm, growing stronger, set to hit central Mozambique

Tropical storm Eloise is currently over the Mozambique channel and is expected to slam into the country's central region on Saturday.
Idai killed more than 1,000 people across Mozambique, Malawi and Zimbabwe, with Mozambique the worst affected.

Published 22 Jan, 2021 04:31pm

Industry

Tesla's Rivals follow NIO in Achieving the 1000km Driving Range

Tesla's rivals and Chinese partners of General Motors, Toyota and Honda also follow NIO's lead to develop cutting-edge batteries that can allow automobiles to achieve the 1000km driving range on a single charge.

Published 22 Jan, 2021 04:12pm

Companies

China's HNA Group says efforts to resolve liquidity crisis progressing

Risk disposal efforts are progressing smoothly and will soon enter a critical period, the company said in a statement on its social media account.
HNA Group was once one of China's most aggressive deal-makers, spending $50 billion in a global acquisition spree that saw it take stakes in big names such as Deutsche Bank AG and Hilton Worldwide Holdings Inc.

Published 22 Jan, 2021 04:27pm

Europe

Lithuania says expects enough COVID-19 vaccines for herd immunity by July

We received assurances from the European Commission president that Lithuania will be able to vaccinate 70% of population by early summer.
he challenge is about to change from vaccine shortages to setting up mass vaccinations, so that we use the time optimally and can fully reach collective immunity (by early July).

Published 22 Jan, 2021 04:25pm

Money & Banking

India central bank proposes scale-based regulations for shadow banks

Higher risk appetite of NBFCs has contributed to their size, complexity and interconnectedness making some of the entities systemically significant.
The size of the balance sheet of shadow banks including housing finance companies has more than doubled to 49.22 trillion rupees in 2020 from 20.72 trillion rupees in 2015.

Published 22 Jan, 2021 04:22pm

Companies

Stellantis' Tavares launches charm offensive with Italian unions

The world's fourth-biggest carmaker was officially created on Saturday from the merger of Fiat Chrysler (FCA) and Peugeot-maker PSA.
Marco Lomio of the UILM union in the Basilicata region, where Melfi is located, said Tavares took time to listen to and answer all questions.

Published 22 Jan, 2021 04:20pm

Pakistan

Traffic plan issued for Karachi Test between Pakistan-South Africa

The roads leading to the National Stadium will be closed from 9am till 6pm and an alternate route will be provided.
“Commuters are requested to use alternate routes to avoid any inconvenience,” said Police.

Updated 22 Jan, 2021 04:21pm

South Asia

China says 10 workers trapped in gold mine are searching for others

The physical condition, psychological condition and living environment of 10 miners in the middle section of the mine are good.
A total of 22 workers were trapped in the Hushan mine by the Jan 10 blast in Qixia.

Published 22 Jan, 2021 04:18pm

Europe

German minister warns against relaxing COVID-19 measures too soon

Spahn told a news conference that new, more transmissible strains of the virus made it imperative to reduce case numbers further.
Germany, in lockdown since early November, reported over 800 deaths and almost 18,000 new infections on Friday.

Published 22 Jan, 2021 04:15pm

Pakistan

Pakistan condemns twin suicide blasts in Baghdad

The twin suicide blasts in Baghdad killed at least 32 people and wounded more than 100.
"Pakistan condemns terrorism in all its forms and manifestations and stands in solidarity with the brotherly government and people of Iraq in their fight against terrorism," FO said.

Published 22 Jan, 2021 04:14pm

Industry

Amendment in Sindh Water Management Bill Empowers Women Farmers

A landmark amendment in the Sindh Water Management Bill, 2018, aims to empower women farmers in the province by offering them decision-making power in water management.

Updated 22 Jan, 2021 03:09pm

Technology

Elon Musk to offer $100 million prize for 'best' carbon capture tech

“Am donating $100M towards a prize for best carbon capture technology,” says Musk.
The International Energy Agency said late last year that a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions targets.

Updated 22 Jan, 2021 03:06pm

World

'I will fire you on the spot', Biden warns staff if they disrespect colleagues

"I'm not joking when I say this: If you're ever working with me and I hear you treat another with disrespect, talk down to someone, I promise you I will fire you on the spot," Biden said.
The US president further said that everybody is entitled to be treated with decency and dignity, adding that it has been missing in a 'big way in the last four years'.

Published 22 Jan, 2021 03:02pm

Business & Finance

Cement sales in Pakistan expected to post double-digit growth in Jan

On Month on Month (MoM) basis the local cement sales are likely to decline 7-11pc due to seasonality and in line with previous two years trend, said Topline Securities.

Published 22 Jan, 2021 02:58pm

Pakistan

Sindh may postpone exams due to prolonged school closure

"We all agreed that we should be in a hurry to hold exams and ensure that at least 60% of the curriculum is taught comprehensive."
Ghani said that the committee has been set up to review and compile schedules for the academic year and examination.

Updated 22 Jan, 2021 02:40pm

Pakistan

COVID-19 claims 47 more lives in Pakistan

During the past 24 hours 1,745 new infections were reported across the country.
With fresh inclusion of the infections in the country the national tally of cases now currently stands at 528,891.

Published 22 Jan, 2021 02:09pm

Business & Finance

After impressive growth, Pakistan eyes IT exports of over $ 2bn this year

The ITeS export remittances comprising computer services and call centre services have surged to $194 million at a growth rate of over 43 percent in December 2020 compared to $135 million during the same month of 2019.

Published 22 Jan, 2021 02:07pm

USA

Biden nominates Kashmiri-origin diplomat for key State Department role

President Joe Biden nominated a Kashmiri-origin diplomat as Under Secretary for Civilian Security, Democracy and Human Rights - a key State Department position, as the new administration takes office.
Uzra Zeya, who resigned from the foreign service in 2018, in protest against President Trump's policies, has been nominated by the Biden Administration for the key position in the Department of State.

Updated 22 Jan, 2021 02:03pm

Pakistan

UN adopts resolution sponsored by Pakistan, OIC countries on protection of holy sites

It condemns offences against religious sites and also denounces any move to obliterate or forcibly convert any religious sites.
Pakistan will continue to play a leading role in denouncing violent attacks on religious sites, Munir Akram said.

Published 22 Jan, 2021 01:35pm

PIA's legal team to appear before UK court today

Federal Minister for Aviation Ghulam Sarwar Khan said PIA had failed to pay the lease of the aircraft that was held in Kuala Lumpur on time due to the coronavirus pandemic.

Updated 22 Jan, 2021 01:00pm

Stocks

Australia shares edge lower; post weekly gain on US stimulus plan

Financials also eased, with wealth manager Perpetual Ltd losing most in the sector, dropping nearly 5%. Insurance Australia Group and Macquarie Group also pulled back.

Published 22 Jan, 2021 12:38pm

Commodities

CBOT soybeans may fall to $13.27-3/4

A retracement analysis on the uptrend from $11.43 to $14.35-3/4 reveals a similar target of $13.23-3/4, the 38.2% level.

Published 22 Jan, 2021 12:35pm

Commodities

CBOT corn may fall into $5.02-3/4 to $5.09-1/2 range

Resistance is at $5.20-1/2, a break above which could lead to a gain to $5.24-1/2. On the daily chart, the contract is falling towards the Jan. 20 low of $5.12-3/4.

Published 22 Jan, 2021 12:33pm

Stocks

South Korea shares slip on profit-taking; post 11th weekly gain in 12

The won ended at 1,103.2 per dollar on the onshore settlement platform, 0.45% lower than its previous close at 1,098.2.

Published 22 Jan, 2021 12:30pm

Business & Finance

Govt taking measures to boost Exports, Razak tells the house

The Adviser said, that the present government strengthened its economic ties with African countries under its Look Africa Policy to enhance the outreach of Pakistani goods in international markets.

Published 22 Jan, 2021 12:27pm

Europe

Hungary PM says too early to talk about lifting COVID-19 restrictions

Hungary is also in talks with China's Sinopharm to buy its coronavirus vaccine.

Published 22 Jan, 2021 12:28pm

Sports

Siraj visits father's grave after fulfilling test dream

His mental strength was further tested in Sydney where a section of the crowd targeted him.

Published 22 Jan, 2021 12:23pm

Sports

Anderson strikes twice as Sri Lanka reach 76-2 at lunch

Perera was caught at first slip by England skipper Joe Root. Fernando played a rising delivery onto his stumps as Sri Lanka slipped to 7-2.

Published 22 Jan, 2021 12:22pm

Stocks

Tokyo stocks close lower on profit-taking

Panasonic jumped 3.27 percent to 1,463 yen in its fifth straight session of rallies, after it said Thursday it has developed a cool box for storing coronavirus vaccines.

Published 22 Jan, 2021 12:20pm

World

Germany virus death toll tops 50,000

It said 859 people died from the virus in the past 24 hours, bringing the total number of fatalities to 50,642.

Published 22 Jan, 2021 12:17pm

World

Republican McConnell proposes Trump get two weeks to prepare for Senate impeachment trial

In a statement, McConnell said he had sent his proposal to Senate Democratic Leader Chuck Schumer.

Published 22 Jan, 2021 12:15pm

Business & Finance

Irish GDP likely grew 2.5% in 2020 despite COVID shock

The Irish government in October forecast a 2020 GDP contraction of 3.5%. Stockbrokers Davy on Thursday forecast Irish GDP growth of 3.3% in 2020 and 4.8% in 2021.

Published 22 Jan, 2021 12:13pm

Companies

Nissan to source more UK batteries as part of Brexit deal 'opportunity'

In contrast, Ford, which imports everything it sells in Britain, has raised some UK prices due to US-sourced content.

Published 22 Jan, 2021 12:11pm

USA

Democrats with BJP/RSS links excluded from Biden Administration

Obama administration staffer Sonal Shah and Amit Jani, who worked on the Biden campaign team, have so far been excluded, allegedly due their RSS-BJP links.
These allegations were reportedly brought to the Biden campaign by over a dozen Indian-American organisations.

Updated 22 Jan, 2021 12:11pm

Business & Finance

Lufthansa has cut losses to a million euros every two hours, says CEO

The airline is still hoping for a strong travel recovery from the northern summer onwards, Spohr added, and expects to run at 40-60% of pre-crisis capacity for the year as a whole.

Published 22 Jan, 2021 12:09pm

Companies

Mexico's Pemex risks refinery accidents with planned job cuts

Even though the refineries have a combined processing capacity of 1.6 million barrels per day (bpd), they process less than half of that, Pemex's third-quarter financial report showed.

Published 22 Jan, 2021 12:09pm

World

New China swine fever strains point to unlicensed vaccines

But it has issued at least three warnings against use of unauthorised African swine fever vaccines, cautioning that they could have severe side effects and that producers and users could be charged with a criminal offence.

Published 22 Jan, 2021 12:06pm

Business & Finance

Japan's factory activity contracts as state of emergency weighs

Overall, the au Jibun Bank Flash Services PMI index posted a sharp decline, falling to a five-month low of 45.7 on a seasonally adjusted basis from December's final of 47.7.

Published 22 Jan, 2021 12:05pm

Stocks

Australian shares on track to gain 1.5% for week on further US stimulus hopes

Meanwhile, shares of Lynas Rare Earths leapt 10% after it signed an agreement to build a commercial light rare earths separation plant in the United States.

Published 22 Jan, 2021 12:01pm

Business & Finance

South Korea's Q4 growth likely slowed as exports recovery tempered by virus impact

"The key (for the economy this year) will be the timing of easing of distancing measures, vaccine supplies and the pace of global economic recovery," he added.

Published 22 Jan, 2021 11:59am

Commodities

Gold dips as yields rise, but eyes best week in five

The European Central Bank reaffirmed its pledge to keep borrowing costs at record lows on Thursday to help the economy weather the pandemic.

Published 22 Jan, 2021 11:57am

Energy

Buyers of US LNG expected to cancel up to five cargoes for March

But with temperatures expected to get warmer post-winter, spot prices for cargoes delivered into North Asia in March have fallen to less than half the average price of cargoes to be delivered in February.

Published 22 Jan, 2021 11:55am

Energy

India's Dec crude oil throughput picks up as fuel demand accelerates

Refineries can operate at more than their usual capacity through technical alterations.

Published 22 Jan, 2021 11:53am

Commodities

ASIA RICE-Indian prices gain, higher Thai prices dampen demand

"Exporters are buying moderately from farmers while waiting for the ongoing winter-spring harvest to peak."

Published 22 Jan, 2021 11:51am

World

Japan to start coronavirus vaccinations with Pfizer vaccines

Kono told reporters the next priority after medical workers was to vaccinate the elderly.

Published 22 Jan, 2021 11:50am

World

China reports 103 new mainland COVID-19 cases vs 144 a day earlier

The National Health Commission said in a statement that 94 of the new cases were local infections. The number of new asymptomatic cases.

Published 22 Jan, 2021 11:48am

Commodities

Soybeans set for first weekly loss in six on LatAm rains

Corn also benefited from export sales, as the USDA reported private sales of 336,500 tonnes of the US corn to unknown destinations for shipment in the 2020/21 season.

Published 22 Jan, 2021 11:47am

Business & Finance

Japan's consumer prices fall at decade-fast pace, add to deflation fears

Slumping fuel costs and a government campaign offering discounts for domestic travel were mainly behind the drop in CPI, the data showed. Of the total 523 components of the core index, 242 saw prices rise while those for 220 items fell.

Published 22 Jan, 2021 11:40am

Business & Finance

Customs confiscate foreign origin liquor worth millions

The MCC Multan has detained/seized a vehicle at Faisalabad which was loaded with 143 cartons of foreign origin liquor, which were concealed under crates of tomatoes.

Published 22 Jan, 2021 11:37am

Stocks

Asian markets step back from stimulus-driven record highs

The greenback's recent slide has been led by investors ploughing money into higher-yielding currencies on optimism about a rapid economic recovery led by massive US stimulus.

Published 22 Jan, 2021 11:37am

Companies

AirAsia Group to raise up to $113mn via private placement

"The proposed private placement will not fully address the Group's current financial concerns as the estimated gross proceeds of up to approximately 454.51 million ringgit would not be sufficient to meet its long-term cash flow requirements," it said.

Published 22 Jan, 2021 11:33am

World

Mexico marks new daily record in deaths from pandemic

As in other countries, Mexico has begun rolling out its vaccination program, but at the same time the ranks of infected people swells, some days by the tens of thousands.

Published 22 Jan, 2021 11:30am

Forex

China FX regulator says current yuan rate within a reasonable, balanced range

Volatilities in international markets could lead to more fluctuations in China's forex market, said Wang Chunying.

Published 22 Jan, 2021 11:28am

Financial

Indonesia central bank may cut policy rate but focus is on lower bank lending rate

"BI rates are already very low, but lending rates are not coming down yet, and demand is not rising yet.

Published 22 Jan, 2021 11:26am

Technology

Alphabet shutting down Loon, which used balloon alternative to cell towers

Separately, companies backed by billionaire entrepreneurs, such as Elon Musk, Richard Branson and Jeff Bezos, continue to look at offering internet connections using satellites in near-Earth orbit.

Published 22 Jan, 2021 11:23am

Commodities

Copper dips as China's rising COVID-19 cases spook demand outlook

Three-month copper on the London Metal Exchange fell 0.4% to $7,993 a tonne by 0229 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange declined 0.4% to 58,920 yuan ($9,113.55) a tonne.

Published 22 Jan, 2021 11:22am

World

Islamic State claims responsibility for Baghdad's suicide attack

Two men blew themselves up in a crowded Baghdad market on Thursday, killing at least 32 people.

Published 22 Jan, 2021 11:20am

Business & Finance

Australia shoppers pull back in December, outlook still strong

Mobility restrictions were largely lifted in early January after New South Wales state controlled the small virus outbreak, suggesting the outlook is better for January, economists said.

Published 22 Jan, 2021 11:20am

World

Argentina hails German Falklands travel request as support for sovereignty claim

The German government did not immediately respond to a Reuters request for comment.

Published 22 Jan, 2021 11:14am

Pakistan

Russia’s Sputnik-V maker contacts DRAP to seek permission for emergency use of its vaccine in Pakistan

The vaccine’s developers have said the shot has been found to be 91.4% effective in providing protection.
Chinese firm Anhui Zheifi Longcom Biopharmaceuticals Company Limited has also applied for phase-III clinical trial of its vaccine in Pakistan.

Published 22 Jan, 2021 11:19am

Energy

US oil may revisit Jan. 19 low of $51.76

A projection analysis on the uptrend from $37.06 reveals a support at $52.01, the 261.8% level, which may not hold.

Published 22 Jan, 2021 11:13am

Commodities

Palm oil may rise into 3,348-3,381 ringgit range

Support is at 3,261 ringgit, a break below which may cause a fall into 3,173-3,221 ringgit range.

Published 22 Jan, 2021 11:12am

Business & Finance

Pakistan FX reserves rise to $20bn, Hammad briefs Senate

He said projects worth $1.7 billion are in the phase of implementation in Gwadar under the CPEC.

Published 22 Jan, 2021 11:11am

Energy

Brent oil may drop into $54.40-$54.83 range

Resistance is at $56.21, a break above which may lead to a gain to $56.64. A further rise would confirm a continuation of the uptrend. It could be extended to $57.42.

Published 22 Jan, 2021 11:09am

Commodities

Spot gold may fall into $1,832-$1,845 range

It is still too early to conclude that the downtrend from $1,959.01 has resumed, even though it may eventually extend to $1,769.

Published 22 Jan, 2021 11:08am

Technology

Amazon to open pop-up COVID-19 vaccine clinic in Seattle headquarters

The move came a day after Reuters reported that Amazon had offered to help with the United States' efforts involving the COVID-19 vaccine, citing a letter addressed to President Joe Biden.

Published 22 Jan, 2021 11:04am

Forex

China's yuan eases, set for weekly rise on dollar weakness

The global dollar index fell to 90.099 from the previous close of 90.108.

Published 22 Jan, 2021 11:00am

Stocks

Japan's Nikkei retreats from 30-year high as corporate earnings loom

Nippon Steel fell 3.07% after announcing plans to boost its stake in Tokyo Rope in a public tender offer.

Published 22 Jan, 2021 10:58am

Forex

Australian dollar slips after bleak Dec retail sales data, NZ$ weakens

Westpac on Thursday ditched its call for two more rate cuts from the Reserve Bank of New Zealand (RBNZ) and forecast rates would be held at 0.25% for the foreseeable future.

Published 22 Jan, 2021 10:55am

Managed Funds

JGB yields rise after inflation expectations lift U.S. Treasury yields

The tenders were 4.78 times oversubscribed, compared with 3.59 times last time.

Published 22 Jan, 2021 10:52am

World

Bernie Sanders, bundled up at Biden inauguration, goes viral in a meme

The 79-year-old senator made a sartorial statement on Wednesday by showing up in a jacket by snowboarding equipment company Burton and home-made wool mittens, carrying a large brown envelope.

Published 22 Jan, 2021 10:45am

Companies

Elon Musk to offer $100mn prize for 'best' carbon capture tech

Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.

Published 22 Jan, 2021 10:50am

Companies

Ford to recall 3 million vehicles for air bags at $610 million cost

In November, NHTSA rejected a petition filed by General Motors Co to avoid recalling 5.9 million US vehicles with Takata air bags. GM said the callback covered 7 million vehicles worldwide and would cost $1.2 billion.

Published 22 Jan, 2021 10:47am

Forex

Dollar's bounce fades as risk appetite rises

The dollar was steady against the Japanese yen on Friday at 103.58, but has lost 0.3% over the week.

Published 22 Jan, 2021 10:43am

World

Bitcoin extends slide, heads for worst week since March 2020

Still, some said the pullback comes with the territory for an asset that is some 700% above the 2020 low of $3,850 hit in March.

Published 22 Jan, 2021 10:38am

World

Thailand reports 309 new coronavirus cases

The tally included 12 imported cases and there were no new deaths reported, the country's COVID-19 taskforce said.

Published 22 Jan, 2021 10:34am

Energy

Oil prices fall as China's surging COVID-19 cases trigger clampdowns

A seasonal boost to China's gasoline demand that is typically seen during the New Year holidays will be moderated by the tightened restrictions this year, consultancy FGE said in a note.

Published 22 Jan, 2021 10:32am

Stocks

Rising virus deaths hit Indonesian shares; currencies dip

Taiwan's dollar extended its winning streak to a fourth consecutive session, strengthening more than 1% against the dollar.

Published 22 Jan, 2021 10:30am

Stocks

China, Hong Kong stocks slip on profit-taking after recent rally

In Hong Kong, the Hang Seng index fell 1.5% to 29,480.11, while The Hong Kong China Enterprises Index also declined 1.5% to 11,707.24.

Published 22 Jan, 2021 10:28am

Business & Finance

SBP to announce MPS today

The SBP Monetary Policy Committee (MPC) will announce the new monetary policy for a period of two months.

Published 22 Jan, 2021 10:19am

Stocks

Indian shares flat; Reliance in focus ahead of results

The blue-chip NSE Nifty 50 index fell 0.04% to 14,585.30 and the benchmark S&P BSE Sensex slipped 0.1% to 49,556.13 by 0506 GMT.

Published 22 Jan, 2021 10:22am

Pakistan

Ehsaas Tahafuz Project Management Unit launched

ISLAMABAD: Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar...

Updated 22 Jan, 2021 10:25am

Pakistan

Foreign funding case: PML-N asks PM to make records public as promised

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) secretary information Marriyum Aurangzeb has challenged Prime...

Updated 22 Jan, 2021 10:25am

Pakistan

Minister warns MS of Yakki Gate Lahore hospital

LAHORE: Punjab Health Minister Dr Yasmin Rashid issued warning to Medical Superintendent of Government Teaching ...

Updated 22 Jan, 2021 10:25am

Pakistan

KMC missed collecting revenue from tens of thousands of units: Contractor had no receipts to collect municipal tax, CM told

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday approved a Rs170m grant for KMC. He took this...

Updated 22 Jan, 2021 10:25am

Pakistan

CM takes notice of robbery in journalist's house

HYDERABAD: Sindh Chief Minister Syed Murad Ali Shah took notice of robbery incident took place in the house of...

Updated 22 Jan, 2021 10:24am

Pakistan

Durrani and others bails: SC issues notices to respondents on NAB appeals

ISLAMABAD: The top court on Thursday issued notices to the respondents on the appeals of the National Accountability...

Updated 22 Jan, 2021 10:24am

Pakistan

Punjab govt suggests to ECP to hold LG polls in Sept

ISLAMABAD: Punjab government suggested to Election Commission of Pakistan (ECP) on Thursday to hold local government...

Updated 22 Jan, 2021 10:23am

Pakistan

NA body seeks NAB's input on Broadsheet case

ISLAMABAD: The National Assembly Standing Committee on Information and Broadcasting sought representation of the NAB...

Updated 22 Jan, 2021 10:23am

Pakistan

Pakistan progressing under leadership of Imran: minister

ISLAMABAD: Minister for Communications and Postal Services Murad Saeed on Thursday said that Pakistan had witnessed...

Updated 22 Jan, 2021 10:23am

Stocks

Asian markets take a step back after Biden-fuelled rally

National Australia Bank's Ray Attrill said that traders were a long way from worrying about the possible negative aspects of Biden's presidency, such as tax hikes and re-regulation.

Published 22 Jan, 2021 10:19am

Technology

Google threatens to block Australians over media law

"The great majority of people who are using Facebook would continue to be able to do so, but we would no longer be able to provide news," Facebook's Simon Milner told the hearing.

Published 22 Jan, 2021 10:17am

World

Brazil awaiting 2 million vaccine doses from India

But it had to be satisfied with the release last week of six million doses of CoronaVac, which was developed by the Chinese lab Sinovac with the Brazilian Butantan Institute in Sao Paulo.

Published 22 Jan, 2021 10:15am

World

Japan cabinet approves bill for tougher virus measures

Despite the recent spike, Japan has seen a comparatively small Covid-19 outbreak, with around 4,700 deaths overall.

Published 22 Jan, 2021 10:13am

Stocks

Hong Kong stocks well down at break

The Hang Seng Index sank 1.50 percent, or 447.65 points, to 29,480.11.

Published 22 Jan, 2021 10:11am

Stocks

Hong Kong stocks start lower

The Hang Seng Index slipped 0.40 percent, or 118.53 points, to 29,809.23.

Published 22 Jan, 2021 10:10am

Stocks

Tokyo stocks open lower on profit-taking

Its bigger rival Toyota was down 0.50 percent at 7,705 yen and Honda was down 1.09 percent at 2,860.5 yen.

Published 22 Jan, 2021 10:08am

Europe

EU leaders 'discourage' travel, eye tougher border rules

"It is absolutely important to keep the single market functioning," von der Leyen said, so that workers and freight can continue to cross borders.

Published 22 Jan, 2021 10:05am

Sports

Suarez double fires Atletico seven points clear

He had Marcos Llorente's pressing to thank for his equaliser but the second was almost entirely down to him, the 33-year-old chasing down a long punt downfield before tumbling over in the box.

Published 22 Jan, 2021 10:03am

World

IS propaganda arm claims twin suicide blasts in Baghdad

Iraq declared IS defeated in late 2017 but its sleeper cells continue to operate, usually in the country's desert zones.

Published 22 Jan, 2021 10:01am

World

Fauci says he feels liberated to speak on science under Biden

"The idea that you can get up here and talk about what you know. What the evidence, what the science is, and know that's it -- let the science speak -- it is somewhat of a liberating feeling."

Published 22 Jan, 2021 10:00am

USA

Biden seeks five more years for last Russia nuclear pact but no 'reset'

Several experts as well as anti-nuclear campaigners disputed Billingslea's analysis, saying there were no signs that Russia was going to budge or that China would join.

Published 22 Jan, 2021 09:56am

Sports

Pakistan cricket set to go global through leading broadcasters

LAHORE: Resumption of cricket in Pakistan has attracted household sport broadcasters across the globe to partner ...

Updated 22 Jan, 2021 09:57am

Sports

Parma own goal sends Lazio through to Italian Cup quarter-finals

But Parma fought back, with Valentin Mihaila levelling for the visitors with seven minutes to go at the Stadio Olimpico.

Published 22 Jan, 2021 09:56am

World

UN Security Council fails to find common ground on Darfur

The Darfur conflict that erupted in 2003 killed some 300,000 people and displaced 2.5 million, according to the UN.

Published 22 Jan, 2021 09:52am

Sports

Milik joins Marseille on loan from Napoli

A three-match winless run has left goal-shy Marseille sixth in Ligue 1, 10 points behind leaders Paris Saint-Germain and second-placed Lille.

Published 22 Jan, 2021 09:51am

World

Biden orders masks, travel clampdown in new war on Covid

In the Senate, the two parties are split 50-50, with a tie-break vote by the new vice president giving Democrats the most razor-thin of margins.

Published 22 Jan, 2021 09:48am

World

Non-essential travel 'strongly discouraged': EU chief

Freight transport should continue but EU Council chief Charles Michel said.

Published 22 Jan, 2021 09:46am

Technology

Embattled Intel says earnings better than expected

While Intel remains one of the world's leading chip companies, it has lagged behind rivals in the fast-growing segment of mobile devices, and its chips are being phased out by Apple, which is developing its own microprocessors for its Mac computers.

Published 22 Jan, 2021 09:45am

Sports

Liverpool home run ended by shock Burnley defeat

Jurgen Klopp's men have now failed to win in five consecutive league games to see their title defence collapse.

Published 22 Jan, 2021 09:43am

USA

Canada governor general resigns over harassment claims: media

Current and former staff at the governor general's office alleged that Payette bullied, yelled at and publicly humiliated staff, some of whom left her office in tears.

Published 22 Jan, 2021 09:42am

SBP governor briefs PM about economic situation

ISLAMABAD: The State Bank of Pakistan (SBP) Governor Dr Reza Baqir called on Prime Minister Imran Khan on Thursday....

Updated 22 Jan, 2021 09:41am

Roadshows for HEC sell-off by month-end: PC

ISLAMABAD: The Privatisation Commission has informed the National Assembly Standing Committee on Privatisation that...

Updated 22 Jan, 2021 09:41am

Justice Azmat to head Broadsheet probe body

ISLAMABAD: The federal government on Thursday appointed former Justice Azmat Saeed as the chairman of inquiry...

Updated 22 Jan, 2021 09:41am

World

Biden proposes five-year extension of New START treaty with Russia

She said the United States would also investigate bounties reportedly paid by Russian intelligence to extremists in Afghanistan who killed US troops.

Published 22 Jan, 2021 09:38am

PM’s plea allowed: Shehbaz’s counsel asked to submit record

LAHORE: A sessions court here Thursday allowed an application of Prime Minister Imran Khan in a defamation suit of...

Updated 22 Jan, 2021 09:37am

US resumes WHO support, launches $1.9trn virus plan

GENEVA: The United States said on Thursday it would resume its funding for the UN's health agency as President Joe...

Updated 22 Jan, 2021 09:37am

Fire at India’s Serum Institute kills 5

NEW DELHI: The Serum Institute of India, the world's biggest vaccine maker, said on Thursday that production of the...

Updated 22 Jan, 2021 09:37am

BR Research

Bestway Cement Limited

Bestway Cement Limited (PSX: BWCL) was set up in 1993 under the Companies Ordinance, 1984 (repealed with the...

Published 22 Jan, 2021 07:45am

BR Research

Biden’s hour

If seasoned American political observers are to be believed, Joe Biden has taken oath as President at an ominous...

Published 22 Jan, 2021 07:40am

BR Research

Think out-of-box FDI (II)

While there is a need to rethink FDI policy and invigorate and charge up IPAs’ role – as highlighted last in ...

Published 22 Jan, 2021 07:35am

BR Research

“If you can’t beat them, join them”

It would be comical if it weren’t so tragic. Yesterday’s front news page carried three news stories placed...

Published 22 Jan, 2021 07:30am

BR Research

Current account

The current account is finally in deficit after a surplus streak of 5 months. It stood at $662 million in December;...

Published 22 Jan, 2021 07:25am

Pakistan

Lesco chief assures Aptma delegation of uninterrupted supply

LAHORE: Chief Executive Officer (CEO) Lesco Ch Muhammad Amin has assured All Pakistan Textile Mills Association...