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Archive - 2021-02-01
Italy's CDP pledges to submit bid for Atlantia's unit by end-Feb
Europe

Italy's CDP pledges to submit bid for Atlantia's unit by end-Feb

  • The binding offer was initially expected by the end of January, but a lengthy due diligence on Autostrade and Italy's ongoing political crisis have slowed down talks.
  • The negotiations are part of renewed efforts to end a long-standing dispute between Atlantia and the Italian government triggered by the 2018 deadly collapse of a bridge run by Autostrade.
Updated 01 Feb, 2021 09:56pm
Facebook to prompt users about personalized ads ahead of Apple privacy changes
Technology

Facebook to prompt users about personalized ads ahead of Apple privacy changes

  • The full-screen prompt will ask Facebook and Instagram users to allow their app and website activity to be used for personalized ads and to "support businesses that rely on ads to reach customers."
  • The social media giant has been waging a public fight against Apple's plan to ask iPhone users whether to allow apps to track them across other websites and apps.
Updated 01 Feb, 2021 09:55pm
Ford, Google join hands to offer cloud-based data services
Companies

Ford, Google join hands to offer cloud-based data services

  • As part of the six-year partnership, the Dearborn, Michigan-based company will incorporate the tech giant's Android operating system into its Ford and Lincoln vehicles starting in 2023.
  • Ford also plans to offer its customers built-in Google apps, that will include its map and voice technology.
Updated 01 Feb, 2021 09:54pm
Number of GameStop shares shorted falls by over half in week
Stocks

Number of GameStop shares shorted falls by over half in week

  • GameStop had 27.13 million shares shorted, down 35 million over the prior week, according to Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
  • Still, GameStop short interest stood at $8.82 billion as of Friday, making it the sixth-biggest short by value, according to S3.
Published 01 Feb, 2021 09:35pm
Tesla set for at least 1bn euros in German subsidies
Companies

Tesla set for at least 1bn euros in German subsidies

  • The European Union last week approved a plan that includes giving state aid to Tesla, BMW and others to support the production of electric vehicle batteries.
  • The EU's approval of the 2.9 billion euro European Battery Innovation project, which includes more than 40 companies
Published 01 Feb, 2021 09:40pm
ECB keeps Italian debt purchase steady through govt crisis
Financial

ECB keeps Italian debt purchase steady through govt crisis

  • Investors have been wondering whether the ECB was once again helping keep a yield on Italian bond yields since mid-January, when an unfolding government crisis only spurred a muted market reaction.
  • The ECB bought 18.1 billion euros of Italian debt over the last two months under its pandemic-fighting programme plus an additional 3 billion euros under its regular stimulus scheme.
Published 01 Feb, 2021 09:41pm
US dollar rises on weaker euro, Swiss franc and yen
Forex

US dollar rises on weaker euro, Swiss franc and yen

  • The dollar index was up 0.21% to 90.815 at mid-morning in New York, while the euro was off 0.36% to $1.209. Against the Swiss franc the dollar was up 0.45%.
  • The dollar may be more resilient in the near-term because "both growth and vaccination favour the U.S."
Published 01 Feb, 2021 09:43pm
Court convicts man for cheating public
Pakistan

Court convicts man for cheating public

  • Accountability Court Judge Muhammad Akmal Khan announced the decision on proving charges in reference No 22/2019, filed by NAB Lahore against Muhammad Muzamil.
Published 01 Feb, 2021 09:43pm
Yields lower as Republicans seek smaller stimulus
Financial

Yields lower as Republicans seek smaller stimulus

  • The benchmark 10-year yield was down almost a basis point at 1.086% in morning trading. The two-year yield.
  • There's less expectation of a grander stimulus package, which is limiting expectations for Treasury supply.
Published 01 Feb, 2021 09:28pm
PM Imran answers citizens' questions on telephone
Pakistan

PM Imran answers citizens' questions on telephone

  • Pakistani citizens called the PM and asked questions related different issues, including the coronavirus vaccine, issues of Balochistan and others.
  • "We know that Gilgit Baltistan is facing electricity problems and we will soon build grid stations," the PM said.
Updated 01 Feb, 2021 09:23pm
Ivory Coast farmers are hopeful for cocoa mid-crop
Commodities

Ivory Coast farmers are hopeful for cocoa mid-crop

  • Farmers said good moisture content in the soil had helped plenty of small pods develop on trees - a strong start for the April mid-crop compared with the same period last year.
  • "Without upkeep of the plantations, production could fall," said Albert N'Zue, who farms near Daloa.
Published 01 Feb, 2021 09:20pm
Materials push TSX higher
Stocks

Materials push TSX higher

  • The Toronto Stock Exchange's S&P/TSX composite index was up 230.66 points, or 1.33%, at 17,567.68.
  • The materials sector, which includes precious and base metals miners and fertilizer companies, added 3.9% as gold futures rose 1.0% to $1,865.5 an ounce.
Published 01 Feb, 2021 09:18pm
Biden to meet Republicans on COVID-19 plan in test of bipartisan approach
USA

Biden to meet Republicans on COVID-19 plan in test of bipartisan approach

  • Biden has voiced an interest in working with congressional Republicans. The White House promised the Republican senators "a full exchange of views."
  • Mr. President, we recognize your calls for unity and want to work in good faith with your administration to meet the health, economic and societal challenges of the COVID crisis,
Published 01 Feb, 2021 09:01pm
Europe's 'long the short' trade cools down
Stocks

Europe's 'long the short' trade cools down

  • That so-called "long the short" trade - or buying shares that hedge funds had shorted - was copied in other stocks across the world.
  • Germany's Evotec, for example, has seen its shares fall about 25% from last Wednesday's high.
Published 01 Feb, 2021 08:59pm
Reddit is coming for silver. A short squeeze? Unlikely
Industry

Reddit is coming for silver. A short squeeze? Unlikely

  • Spot silver vaulted as high as $30.03 an ounce on Monday from $25 on Thursday morning.
  • An early post, which quickly spread across social media, encouraged buying of iShares Silver Trust, an exchange traded fund (ETF) whose shares represent ounces of silver sitting in vaults.
Published 01 Feb, 2021 08:49pm
Japan, US reaffirm readiness to use bold steps to escape crisis: Aso
South Asia

Japan, US reaffirm readiness to use bold steps to escape crisis: Aso

  • Speaking after his first talks with Yellen since she became the new US Treasury Secretary, Aso said they had also agreed that it was important to hold close discussions on foreign exchange rates.
  • We reaffirmed that it's important to maintain G7 (Group of Seven) as well as G20 (Group of 20) agreements of up until now.
Published 01 Feb, 2021 08:38pm
Rumi calls on CM Buzdar
Pakistan

Rumi calls on CM Buzdar

  • The CM appreciated the efforts of the traders' community for setting up almonries in the area of Koh-e-Suleman.
Published 01 Feb, 2021 08:39pm
Russia's Segezha targets $400-500mn in Moscow IPO
Stocks

Russia's Segezha targets $400-500mn in Moscow IPO

  • Segezha, owned by Russian conglomerate Sistema, aims to raise between $400 million to $500 million in Moscow this spring.
  • JP Morgan and UBS declined to comment. Serezha is 'constantly' evaluating different options to finance its further development, including on the equity markets.
Published 01 Feb, 2021 08:36pm
Elderly in Poland won't be given AstraZeneca shot
Europe

Elderly in Poland won't be given AstraZeneca shot

  • If we are talking about the decision of the medical council, we expect it in the coming days or possibly hours, but it is clear that elderly people will not be vaccinated with this shot.
  • "We are waiting for a clear recommendation from the medical council and then... we will take a decision."
Published 01 Feb, 2021 08:00pm
Ghana central bank holds key rate at 14.5pc
Money & Banking

Ghana central bank holds key rate at 14.5pc

  • The bank said that although inflation had been on a steady decline in the early months of the fourth quarter of 2020, it rose to 10.4 percent outside its target range of 8%, plus or minus 2 percentage points.
  • Under the circumstances, and given the balance of risks to inflation and growth, the (Monetary Policy) Committee decided to keep the policy rate at 14.5 percent.
Published 01 Feb, 2021 07:55pm
Eaton to buy Cobham Mission Systems in $2.83bn deal
Companies

Eaton to buy Cobham Mission Systems in $2.83bn deal

  • US-based CMS employs around 2,000 people globally, and mainly serves the defense sector.
  • Excluding $130 million in tax benefits, the purchase price for CMS is about 14 times its 2020 earnings before interest, taxes.
Published 01 Feb, 2021 07:50pm
Insurer AIG pays $12mn fine in NY pension transfer probe
Financial

Insurer AIG pays $12mn fine in NY pension transfer probe

  • The settlement is the second in a probe by the New York State Department of Financial Services (NYDFS) into an industry in which life insurers take over corporate pension plans.
  • AIG will also transfer the handling of such transactions to a New York-based subsidiary, the regulator added.
Published 01 Feb, 2021 07:42pm
UK makes formal request to join trans-Pacific trade deal
Europe

UK makes formal request to join trans-Pacific trade deal

  • Announcing the move, trade minister Liz Truss said it would position Britain "at the heart of some of the world's fastest-growing economies".
  • The request comes on the first anniversary of Britain's formal departure from the European Union before a transition period that ended at the end of 2020.
Published 01 Feb, 2021 07:34pm
EU governments condemn Myanmar coup, next steps unclear
Europe

EU governments condemn Myanmar coup, next steps unclear

  • "We call for the immediate release of all those detained and to reestablish the democratic process," Spanish Prime Minister Pedro Sanchez said.
  • EU foreign policy chief Josep Borrell and European Commission President Ursula von der Leyen, the head of the EU's executive arm, also released statements condemning the coup.
Published 01 Feb, 2021 07:32pm
Endesa planning to spend 2.9bn euros on green hydrogen in Spain
Companies

Endesa planning to spend 2.9bn euros on green hydrogen in Spain

  • Electrolysers are devices that produce green hydrogen from renewable energy sources using electricity to split water into hydrogen.
  • Endesa wants to show its clear commitment to green hydrogen as a key in the energy transition process and decarbonisation of the economy.
Published 01 Feb, 2021 07:28pm
Macron: Europe needs to be quicker and more efficient on COVID-19 vaccines
Europe

Macron: Europe needs to be quicker and more efficient on COVID-19 vaccines

  • "We are in a race against time against the virus," said Macron, adding that his views on the matter were shared by German Chancellor Angela Merkel and EU President Ursula Von Der Leyen.
  • We, as Europeans, need to be more efficient on this matter. I know this is also the intention of Chancellor Merkel and President Von Der Leyen.
Published 01 Feb, 2021 07:20pm
Uganda opposition leader Bobi Wine challenges election result in court
Africa

Uganda opposition leader Bobi Wine challenges election result in court

  • Museveni, a former guerrilla leader who has led the East African country since 1986, was declared winner of the Jan. 14 election with 59% of the vote, while Wine was given 35%.
  • "We want the poll cancelled and repeated," said George Musisi, lawyer for Wine's National Unity Platform (NUP).
Published 01 Feb, 2021 07:18pm
Poland finds first case of COVID-19 in mink
Europe

Poland finds first case of COVID-19 in mink

  • Late on Sunday the ministry said in a statement it had been informed by veterinary inspectors on Saturday of a case in Kartuzy county in northern Poland.
  • I hope this is a single case, although we must take all measures to limit possible transmission of the virus.
Published 01 Feb, 2021 07:16pm
Twitter blocks dozens of accounts on India's demand amid farm protests: sources
Asia

Twitter blocks dozens of accounts on India's demand amid farm protests: sources

  • The move by the social media giant came in the wake of protests by Indian farmers that took a violent turn last week, resulting in the killing of one demonstrator and injuries to hundreds of people, including police officers.
  • Prime Minister Narendra Modi’s government denies this, saying the reforms open up new opportunities for farmers to sell their produce directly to private buyers.
Published 01 Feb, 2021 06:56pm
FIFA expects strong demand for Qatar 2022 hospitality packages
Sports

FIFA expects strong demand for Qatar 2022 hospitality packages

  • We're delighted to see such extraordinary interest in the World Cup... when following challenging times, the world can come together for a global festival of football,.
  • The FIFA Hospitality Programme has a proven track record of delivering a fantastic range of products.
Published 01 Feb, 2021 07:01pm
Britain detects South African variant in people with no travel links
Europe

Britain detects South African variant in people with no travel links

  • Residents in parts of Surrey, to the south west of London, will now be tested whether they are showing any symptoms or not, the local authority said.
  • This is a precautionary measure - the more cases of the variant we find, the better chance we have at stopping it from spreading further.
Published 01 Feb, 2021 06:47pm
COAS, DG ISI, PM Imran discuss security situation
Pakistan

COAS, DG ISI, PM Imran discuss security situation

  • Director-General of Inter-Services Intelligence Lieutenant General Faiz Hamid was also present during the meeting.
  • Matters pertaining to internal and external security were discussed during the meeting.
Published 01 Feb, 2021 06:29pm
Vaccine rollout lifts sterling to strongest against euro since May
Forex

Vaccine rollout lifts sterling to strongest against euro since May

  • Riskier currencies gained against the dollar, which edged lower as global market sentiment was lifted by an equity rally in the Asian and early European sessions.
  • The economy that does the best will be the one that's able to get its population vaccinated earliest, and at the moment that looks like the UK.
Published 01 Feb, 2021 06:30pm
India to set up gas pipeline operator to boost gas use
Energy

India to set up gas pipeline operator to boost gas use

  • India, a signatory to Paris Climate accord, will also launch a Hydrogen Energy Mission in the next fiscal year to March 2022 for generating hydrogen from green power sources.
  • Gas Transport System Operator will be set up for facilitation and coordination of booking of common carrier capacity in all-natural gas pipelines on a non-discriminatory open access basis.
Published 01 Feb, 2021 06:28pm
CAA uncovers network allegedly involved in fake pilot licenses scam
Pakistan

CAA uncovers network allegedly involved in fake pilot licenses scam

  • The Authority is carrying out raids for the two accused allegedly involved in the scam after it emerged that some of the aviation employees were using their frontmen to collect money for the fake licenses.
  • The Authority has acquired remand of some of the license branch officials and pilots and also expanded investigation circle.
Updated 01 Feb, 2021 06:28pm
Iraq's oil exports rise to 2.868mn bpd in January
Energy

Iraq's oil exports rise to 2.868mn bpd in January

  • Exports from Iraq's southern Basra terminals reached 2.77 million bpd in January, up from 2.75 million bpd the month before, the ministry added.
  • Rising oil prices boosted Iraq's January oil revenue, its main income stream, to about $4.74 billion with an average price per barrel of $53.294.
Published 01 Feb, 2021 06:26pm
UK PM Johnson says must keep up restrictions to lower COVID rates further
Europe

UK PM Johnson says must keep up restrictions to lower COVID rates further

  • We're starting to see some signs of flattening, and maybe even a falling off infection rates and hospitalisations.
  • The risk is that if you take your foot off the throat of the beast, if you allow things to get out of control and then you could, alas, see the disease spreading again, fast, before we got enough vaccines into people's arms. That's the risk.
Published 01 Feb, 2021 06:21pm
Italians flock back to coffee bars as COVID-19 restrictions eased
Europe

Italians flock back to coffee bars as COVID-19 restrictions eased

  • "We felt dead without bars," said Rome resident Tiziana Baldo after a barista poured her drink in a bar in central Rome.
  • "It is beautiful to come here and talk to the people behind the bar; they make us feel alive every morning before going to work," she added.
Published 01 Feb, 2021 06:15pm
Ethiopia's debt relief request to put other DSSI nations under scrutiny
Africa

Ethiopia's debt relief request to put other DSSI nations under scrutiny

  • Ethiopia has said it plans to seek a restructuring of its sovereign debt under a new common framework of the G20 group of major economies designed to help with the financial pressures of COVID-19.
  • G20 DSSI-eligible sovereigns and those requesting IMF programmes may come under additional scrutiny following Ethiopia's request for debt relief.
Published 01 Feb, 2021 06:10pm
Arsenal still have unfinished transfer business on deadline day
Sports

Arsenal still have unfinished transfer business on deadline day

  • Arsenal have brought in attacking midfielder Martin Odegaard and goalkeeper Mat Ryan for the remainder of the season from Real Madrid and Brighton & Hove Albion respectively.
  • At least when you know what you want to do and what you want to achieve it is easier.
Published 01 Feb, 2021 06:05pm
‘We are closely following the developments in Myanmar’: FO
Pakistan

‘We are closely following the developments in Myanmar’: FO

  • “We hope that all parties involved will exercise restraint, uphold the rule of law, engage constructively, and work towards a peaceful outcome.”
  • Aung San Suu Kyi along with other political leader of her National League for Democracy (NLD) party were detained in early morning raids.
Updated 01 Feb, 2021 05:38pm
Austria avalanches claim four lives
Europe

Austria avalanches claim four lives

  • "They were both totally buried by the avalanche and their bodies could only be recovered on the evening of January 31," the statement said.
Published 01 Feb, 2021 04:49pm
Uganda opposition leader Bobi Wine files election challenge in court
Africa

Uganda opposition leader Bobi Wine files election challenge in court

  • Ugandan opposition leader Bobi Wine filed a legal challenge in the country’s supreme court on Monday seeking cancellation of the results of last month’s presidential election that handed victory to incumbent Yoweri Museveni, his party’s lawyer said.
  • The former guerrilla leader, who has led the East African country since 1986, was declared winner of the Jan. 14 vote with 59% of the vote, while Wine was given 35%.
Published 01 Feb, 2021 04:40pm
Modi breaks his silence on escalating farm laws protests
South Asia

Modi breaks his silence on escalating farm laws protests

  • Indian Prime Minister Narendra Modi has stated that the protesters that stormed New Delhi's historic Red Fort last week, caused an "insult" to the country, and that his government will proceed with the proposed agricultural reform.
  • Farm leaders issued a statement that they were not responsible for violence, that it was caused by a minority of those on the parade, and that they will resume their talks with the government.
Updated 01 Feb, 2021 04:39pm
Israel to apologize to UAE for official blaming virus surge on Dubai travel
South Asia

Israel to apologize to UAE for official blaming virus surge on Dubai travel

  • The United Arab Emirates has expressed its frustration with Israel, after a senior health official blamed a sharp rise in coronavirus cases on Israelis returning from vacations in Dubai.
  • Tens of thousands of Israelis have travelled to the United Arab Emirates since Israel normalised ties with the Gulf state in September.
Updated 01 Feb, 2021 03:35pm
PPP politicising COVID-19 vaccine deployment, says Umar
Pakistan

PPP politicising COVID-19 vaccine deployment, says Umar

  • SAPM says Sindh government is not telling the truth about its procurement and delivery of vaccines because they don't have a single vaccine dose
  • Umar says he will request Prime Minister Imran Khan to "take responsibility" for the people of Sindh and protection of their lives and livelihood
Published 01 Feb, 2021 03:29pm
Taliban attacks increased in Kabul, says U.S. watchdog
Asia

Taliban attacks increased in Kabul, says U.S. watchdog

  • “Enemy attacks in Kabul were higher than during the previous quarter," the report quoted U.S. forces.
  • The report said that 17 percent increase was witnessed in casualties caused by improvised explosive devices in this quarter.
Published 01 Feb, 2021 02:21pm
Govt forms distribution plan for COVID-19 vaccine
Pakistan

Govt forms distribution plan for COVID-19 vaccine

  • The Pakistan Air Force (PAF) carrying 0.5 million doses of a COVID-19 vaccine landed at Nur Khan Airbase earlier in the day.
  • The vaccine will be transported to Sindh and Balochistan by air while to Punjab and Khyber Pakhtunkhwa by road.
Published 01 Feb, 2021 01:51pm
Increase in fuel prices challenged in LHC
Pakistan

Increase in fuel prices challenged in LHC

  • The Judicial Activism Panel moved the petition, requesting the court to declare the government’s move to jack up fuel prices as illegal
  • The petition states that more burden has been put on a common man who is already reeling from rising inflation
Published 01 Feb, 2021 12:43pm
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