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Archive - 2021-02-09
Dr Faisal visits PIMS to meet protesters
Pakistan

Dr Faisal visits PIMS to meet protesters

  • "We have been assured to resolve our all issues,"said Chairman Grand Health Alliance Dr Asfandyar, who had been in the forefront of the protest for over two months.
Published 09 Feb, 2021 11:35pm
Centene misses profit estimates on higher costs
Money & Banking

Centene misses profit estimates on higher costs

  • Centene also forecast 2021 adjusted profit between $5 and $5.30 per share, compared with Wall Street estimates of $5.24.
  • Centene raised its full-year revenue forecast range to $116.1 billion to $118.1 billion, from $114.1 billion to $116.1 billion.
Updated 09 Feb, 2021 11:32pm
TSMC to raise $9bn for expansion, open Japan subsidiary
Companies

TSMC to raise $9bn for expansion, open Japan subsidiary

  • Taiwan's tech firms have benefited from soaring demand for chips that go into laptops, tablets, smartphones and other products to support the work.
  • It also approved the provision of a guarantee to wholly-owned subsidiary TSMC Global for its issuance of US dollar-denominated senior unsecured corporate bonds not to exceed $4.5 billion.
Updated 09 Feb, 2021 11:32pm
‘Merciless’ Russia may face new sanctions, EU's Borrell says
Europe

‘Merciless’ Russia may face new sanctions, EU's Borrell says

  • "They are merciless," EU foreign policy chief Josep Borrell told the European Parliament after visiting Moscow last week to plead for the release of Kremlin critic Alexei Navalny.
  • The current power structure in Russia, combining vested economic interests, military and political control, leave no opening for democratic rule of law.
Updated 09 Feb, 2021 11:31pm
Serena continues Slam record bid, Djokovic gears up for Tiafoe test
Sports

Serena continues Slam record bid, Djokovic gears up for Tiafoe test

  • American Williams has been stuck on 23 majors since triumphing at Melbourne Park in 2017, losing four Grand Slam finals since to remain one short of Margaret Court's record.
  • I felt really comfortable in the tournament leading up to this just a couple days ago when I was playing.
Updated 09 Feb, 2021 11:31pm
Let PSG talk about Messi, says Koeman
Sports

Let PSG talk about Messi, says Koeman

  • Lyon boss Garcia then got involved by saying it was rich of Koeman to criticise PSG for talking about the prospect of signing Messi after he had spoken openly of Barca's pursuit of Lyon forward Memphis Depay.
  • I don't know why PSG are doing this (talking about Messi) but if they want to talk about Leo, they can.
Updated 09 Feb, 2021 10:03pm
Copper at one-month high on stimulus hopes, soft dollar
Commodities

Copper at one-month high on stimulus hopes, soft dollar

  • Three-month copper on the London Metal Exchange (LME) added 1.1% to trade at $8,132 per tonne in official trading.
  • Its a macro-driven story for copper at the moment. Market participants are euphoric and equities are at record highs, pushing commodities up.
Updated 09 Feb, 2021 10:02pm
Ads, GameStop raise Reddit price tag to $6bn in latest fundraising
Industry

Ads, GameStop raise Reddit price tag to $6bn in latest fundraising

  • Reddit was valued at $3 billion in its last round in February 2019, and the surge in its value follows a 90% jump in advertising revenue from a year ago.
  • We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets.
Updated 09 Feb, 2021 10:02pm
Fuel-cell truck maker Hyzon to go public via $2.7bn SPAC deal
Companies

Fuel-cell truck maker Hyzon to go public via $2.7bn SPAC deal

  • The electric vehicle market has seen a surge in companies choosing mergers with special purpose acquisition companies (SPACs) as the route to go public instead of traditional initial public offerings.
  • The transaction is expected to result in total gross proceeds of about $626 million.
Updated 09 Feb, 2021 09:58pm
Chile says in talks with Russia to acquire Sputnik V vaccine
USA

Chile says in talks with Russia to acquire Sputnik V vaccine

  • Chile's trade undersecretary confirmed to Reuters a report in daily newspaper El Mercurio that negotiations with Russia had begun.
  • Chile moved fast and early to lock down vaccines, signing deals with US-based Pfizer, British-Swedish firm AstraZeneca.
Published 09 Feb, 2021 09:37pm
Raw sugar edges higher, cocoa also climbs
Commodities

Raw sugar edges higher, cocoa also climbs

  • March raw sugar rose 0.02 cents, or 0.1%, to 16.29 cents per lb.
  • May New York cocoa was up $12, or 0.5%, at $2,457 a tonne.
  • March arabica coffee fell 1.05 cents, or 0.85%, to $1.2305 per lb.
Published 09 Feb, 2021 09:27pm
TSX rises on gold boost, US stimulus optimism
Stocks

TSX rises on gold boost, US stimulus optimism

  • Gold prices jumped 1% to a one-week high in response to a weaker dollar and expectations of substantial US fiscal stimulus.
  • Toronto Stock Exchange's S&P/TSX composite index was up 16.62 points, or 0.09%, at 18,346.88.
Published 09 Feb, 2021 09:31pm
Spurs' Mourinho 'very sorry' for referee Dean after death threats
Sports

Spurs' Mourinho 'very sorry' for referee Dean after death threats

  • Mourinho said he had reached out to defender Ryan Sessegnon, who is on loan at German side Hoffenheim, after he had been targetted on social media in November.
  • We speak with the players if the situation arises," Mourinho told reporters ahead of Wednesday's FA Cup fifth-round tie at Everton.
Updated 09 Feb, 2021 09:29pm
Pound hits highest since April 2018, eyes $1.38
Forex

Pound hits highest since April 2018, eyes $1.38

  • Sterling reached $1.3798 against the dollar in late afternoon deals in London, its highest level against the greenback since April 27, 2018. Against the euro, it traded flat at 87.69 pence.
  • As we have been arguing since last week's Bank of England meeting, the move lower in EUR/GBP seems to have taken a breather.
Published 09 Feb, 2021 09:25pm
UK's reported COVID-19 cases fall again, deaths increase
Europe

UK's reported COVID-19 cases fall again, deaths increase

  • There were 12,364 people who tested positive for the virus in the latest daily total, down from 14,104 on Monday which was the lowest figure since Dec. 8.
  • The number of new deaths within 28 days of a positive COVID-19 test rose to 1,052 from 333 on Monday.
Published 09 Feb, 2021 09:23pm
Paris wheat consolidates before USDA crop report
Commodities

Paris wheat consolidates before USDA crop report

  • March milling wheat on Paris-based Euronext was up 0.25 euros or 0.1% at 226.75 euros a tonne.
  • Chicago corn futures rose to a new 7-1/2-year high earlier on Tuesday as investors anticipated the USDA would reduce US and global supplies of the feed grain.
Published 09 Feb, 2021 09:21pm
Gold gains as dollar slips, stimulus bets grow
Commodities

Gold gains as dollar slips, stimulus bets grow

  • Dollar falls to a more than one-week low.
  • Platinum rises to highest since Aug. 2016.
  • Investors eye Fed Chair Jerome Powell's speech on Wednesday.
  • Strong investment demand to push platinum into deficit-UBS.
Published 09 Feb, 2021 09:14pm
Canada permits six doses from each Pfizer COVID-19 vaccine vial
USA

Canada permits six doses from each Pfizer COVID-19 vaccine vial

  • Supriya Sharma, a senior advisor at the ministry, told a news briefing that six doses could be extracted provided a special syringe was used.
  • Canada's Liberal government has been attacked by critics over the slow pace of vaccinations, caused in part by a temporary reduction in supplies from Pfizer.
Published 09 Feb, 2021 09:12pm
South Africa's rand firms as US stimulus hopes boost risk taking
Forex

South Africa's rand firms as US stimulus hopes boost risk taking

  • The rand was 0.71% firmer at 14.7750 against the dollar, in line with gains in most emerging market currencies.
  • "Should this come to fruition, the external financial environment would result in an extremely supportive climate for the local currency."
Published 09 Feb, 2021 09:08pm
Brazil gets $1 billion from BRICS bank to fight coronavirus
USA

Brazil gets $1 billion from BRICS bank to fight coronavirus

  • The New Bank of Development (NDB), run by the BRICS group comprised of Brazil, Russia, India, China and South Africa, has earmarked $10 billion for fighting the pandemic.
  • Brazil has the world's deadliest coronavirus outbreak outside the United States, with 232,170 fatalities among more than 9.5 million cases.
Published 09 Feb, 2021 09:05pm
Soomro for reviving PSM within given time
Pakistan

Soomro for reviving PSM within given time

  • Federal Minister was briefed about the current status of PSM. All pending issues including Valuation of Core Operation Assets and Audit of PSM were discussed in detail.
Published 09 Feb, 2021 09:04pm
Peru kicks off COVID-19 inoculation campaign with Sinopharm vaccine
USA

Peru kicks off COVID-19 inoculation campaign with Sinopharm vaccine

  • Peru, mired in a political crisis last year, initially lagged behind its wealthier neighbors in locking down COVID-19 vaccine deals.
  • Peru will then vaccinate 5.3 million elderly people, those suffering from pre-existing conditions and its native communities.
Published 09 Feb, 2021 09:02pm
India backs AstraZeneca shot despite South Africa halt
Companies

India backs AstraZeneca shot despite South Africa halt

  • Says no S. Africa variant reported, no concerns with shot.
  • J&J interested in making its vaccine in India- govt official.
  • Bharat Biotech may export local shot to Brazil, UAE this week.
  • India orders 14.5 mln more doses of Astra, Bharat Biotech shots.
Published 09 Feb, 2021 09:00pm
Fox Corp quarterly revenue rises as ad spend strengthens
Industry

Fox Corp quarterly revenue rises as ad spend strengthens

  • Fox's revenue was buoyed by higher affiliate fees, which refer to the fees collected from cable, satellite.
  • The network had its highest-rated November in history, drawing 3.9 million primetime viewers, beating all cable networks, not just cable news, according to Nielsen data.
Published 09 Feb, 2021 08:49pm
Volkswagen explores flying cars in China
Companies

Volkswagen explores flying cars in China

  • Beyond autonomous driving the concept of vertical mobility could be a next step to take our mobility approach into the future, especially in the technically affine Chinese market.
  • "Therefore we are investigating potential concepts and partners in a feasibility study to identify the possibility to industrialize this approach."
Published 09 Feb, 2021 08:53pm
Brazil inflation slows in January, but 4.5pc annual rate remains punchy
USA

Brazil inflation slows in January, but 4.5pc annual rate remains punchy

  • It was the third month in a row the benchmark annual IPCA consumer inflation rate has been above 4%, having more than doubled from the record low below 2% last May.
  • The big surprise was the fall in housing costs. Looking ahead though, we must be vigilant. Food prices remain very high.
Published 09 Feb, 2021 08:51pm
Britain wants to resolve post-Brexit N.Ireland trade issues quickly
Europe

Britain wants to resolve post-Brexit N.Ireland trade issues quickly

  • We set out the issues we have currently ... We want to extend the existing measures but we are committed to working constructively and pragmatically with the EU to resolve the issues ... as quickly as possible.
  • Earlier this week, Irish Foreign Minister Simon Coveney said Dublin was open to "modest" extensions of waivers on the movement of certain goods.
Published 09 Feb, 2021 08:43pm
Brazil's BTG profit jumps driven by fees and loans
Money & Banking

Brazil's BTG profit jumps driven by fees and loans

  • BTG's return on equity, a closely watched measure of profitability, was at 19.1%, up 3.4 percentage points from the previous quarter.
  • Total revenues at BTG rose 14% from a year earlier, to 2.8 billion reais, boosted by investment banking, corporate lending and wealth management.
Published 09 Feb, 2021 08:33pm
Dollar drops, as bitcoin nears $50,000
Stocks

Dollar drops, as bitcoin nears $50,000

  • Benchmark crude contract Brent North Sea held around 13-month highs above $60 on Tuesday thanks to surging demand expectations as economies reopen.
Published 09 Feb, 2021 08:21pm
India's January fuel demand down 3.9pc y/y
Energy

India's January fuel demand down 3.9pc y/y

  • Fuel consumption, a proxy for oil demand, totalled 18.01 million tonnes.
  • Sales of gasoline, or petrol, rose by about 6.1% from a year earlier to 2.61 million tonnes.
Published 09 Feb, 2021 08:17pm
PDM wants to protect 'corruption-friendly' system: Imran Khan
Pakistan

PDM wants to protect 'corruption-friendly' system: Imran Khan

  • A video clip making rounds on social sites, was around the time of the Senate elections 2018, earlier today, showing a couple of PTI MNAs allegedly taking money from former MPA of the PPP, Mohammad Ali Bacha.
  • The prime minister blamed the "ruling elites" for coming into power and making money to purchase decision-makers, bureaucrats and the media to "consolidate their power and rob nation's wealth.
Published 09 Feb, 2021 08:10pm
MNAs, MPAs call on Punjab CM
Pakistan

MNAs, MPAs call on Punjab CM

  • The delegation thanked the CM for according respect and honour to the parliamentarians and appreciated that their proposals are given due importance.
Published 09 Feb, 2021 07:47pm
Efforts to find missing K2 climbers halt due to harsh weather
Pakistan

Efforts to find missing K2 climbers halt due to harsh weather

  • Ali Sadpara’s long-time friend Rao Ahmad and his son Sajid Sadpara along with British-American climber, Vanessa O’Brien, have formed a virtual base camp to ensure a thorough search-and-rescue effort
  • The families of missing mountaineers have requested the government to continue to provide search and rescue support
Updated 09 Feb, 2021 07:28pm
Hong Kong stock exchange names JPMorgan's Aguzin as new chief executive
Stocks

Hong Kong stock exchange names JPMorgan's Aguzin as new chief executive

  • Aguzin will have to balance the wishes of authorities in Beijing, international institutions, and Hong Kong local brokers and traders.
  • He will replace Charles Li, another former JPMorgan banker, who announced his resignation as CEO of Hong Kong Exchanges and Clearing (HKEX) in May.
Published 09 Feb, 2021 06:18pm
Tokyo Olympic committee to meet on Mori comments as volunteers quit
Sports

Tokyo Olympic committee to meet on Mori comments as volunteers quit

  • There are no plans to discuss Mori's resignation at the meeting but he could face criticism over his comments, Nikkan Sports said in a separate report.
  • "We are taking this very seriously," Olympic Minister Seiko Hashimoto said on Tuesday when asked about the resignation of the volunteers.
Published 09 Feb, 2021 06:14pm
Dollar struggles as US yields soften; Bitcoin soars
Forex

Dollar struggles as US yields soften; Bitcoin soars

  • Investors have pushed up the dollar recently as Democrats moved to fast-track President Joe Biden's $1.9 trillion COVID-19 relief package.
  • There has been an impressive pullback in US Treasury yields overnight which is causing the broad-based dollar weakness before the bond auctions this week.
Published 09 Feb, 2021 06:10pm
Colonial allocates Cycle 12 shipments on distillate Line 20
Companies

Colonial allocates Cycle 12 shipments on distillate Line 20

  • The company generally announces allocations when nominations, or requests, for space to ship petroleum products on its lines exceed its ability to meet the five-day lifting cycle.
  • The cycles are five-day periods when a sequence of all in-season products is pumped.
Published 09 Feb, 2021 06:04pm
Sherif blazes a trail for Egypt with first-round win
Sports

Sherif blazes a trail for Egypt with first-round win

  • The 24-year-old, who made her Grand Slam main draw debut at Roland Garros last year, toughed out a 7-5 7-5 win over fellow-qualifier Chloe Paquet on Court Six.
  • "Obviously it means a lot because finally this is barrier that I had to pass, a mental barrier," Sherif told reporters.
Published 09 Feb, 2021 05:58pm
UAE's Hope Probe nears Mars in first Arab mission
Middle East

UAE's Hope Probe nears Mars in first Arab mission

  • The Mars programme is part of the UAE's efforts to develop its scientific and technological capabilities and reduce its reliance on oil.
  • The attempt to lock into orbit around Mars has a 50% chance of failing, Dubai's ruler and UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum said on Tuesday.
Published 09 Feb, 2021 05:55pm
Brazil's BTG sees Q4 profit up 24.6pc on higher revenues
Money & Banking

Brazil's BTG sees Q4 profit up 24.6pc on higher revenues

  • BTG's return on equity, a closely watched measure of profitability, was at 19.1%, up 3.4 percentage points from the same period a year earlier.
  • Total revenues at BTG rose 14% from a year earlier, to 2.8 billion reais, boosted by investment banking, corporate lending and wealth management.
Published 09 Feb, 2021 05:51pm
GlobalWafers secures control over Germany's Siltronic
Companies

GlobalWafers secures control over Germany's Siltronic

  • The Taiwanese company said it now controlled a 50.8% stake in Siltronic, clearing a reduced threshold for control set under an improved offer that had been due to expire on Wednesday.
  • GlobalWafers twice raised its offer for Munich-based Siltronic after its initial bid was accepted by Wacker Chemie.
Published 09 Feb, 2021 05:46pm
South Africa's Eskom says to implement power cuts overnight
Companies

South Africa's Eskom says to implement power cuts overnight

  • The power generation system is still severely constrained due high generation unit breakdowns in the past two days.
  • State-owned Eskom regularly implements outages in Africa's most industrialised nation because of faults at its coal-fired power stations.
Published 09 Feb, 2021 05:45pm
Mexican power bill seeks legal compromise for bruised investors
USA

Mexican power bill seeks legal compromise for bruised investors

  • Corporate lobbies have objected to the bill, which will give priority in electricity dispatch to national power utility the Comision Federal de Electricidad (CFE).
  • Mexico's Business Coordinating Council (CCE) called the shake-up an "indirect expropriation".
Published 09 Feb, 2021 05:37pm
Biden budget nominee Tanden faces two tough hearings this week
USA

Biden budget nominee Tanden faces two tough hearings this week

  • Tanden, 50, will appear at confirmation hearings on Tuesday before the Homeland Security and Governmental Affairs Committee and on Wednesday before the Budget Committee.
  • The Senate is also scheduled on Tuesday to begin the impeachment trial of former President Donald Trump, who is accused of inciting the deadly Jan. 6 assault on the US Capitol.
Published 09 Feb, 2021 05:32pm
Mexico's Justo grocery app lands $65 million funding round
Commodities

Mexico's Justo grocery app lands $65 million funding round

  • Founded a year and a half ago, the startup saw the coronavirus pandemic boost demand for online deliveries of goods ranging from fresh foods to cleaning supplies.
  • Justo operates in Mexico's capital and the city of Queretaro, and this year plans to bring the business to other major Mexican cities.
Published 09 Feb, 2021 05:28pm
My father is a survivor, I am still hopeful of his return: Sajid Ali
Pakistan

My father is a survivor, I am still hopeful of his return: Sajid Ali

Muhammad Ali Sadpara, John Snorri from Iceland and JP Mohr from Chile lost contact with the base camp on Friday and were reported missing on Saturday after their support team stopped receiving communications from them. "It has been four days today. No one has seen my father since that day. He is up there somewhere, 8,000-feet high," says Sajid Ali.
Updated 09 Feb, 2021 05:27pm
Futures slip after Wall Street ends at record highs
Stocks

Futures slip after Wall Street ends at record highs

  • Futures down: Dow 0.21%, S&P 0.19%, Nasdaq 0.18%
  • Last week's data showing slower-than-expected growth in the labor market underscored the need for more government aid to blunt the effects of the COVID-19 pandemic.
Published 09 Feb, 2021 05:19pm
Returning officers, Polling Officers for the Senate election announced
Pakistan

Returning officers, Polling Officers for the Senate election announced

  • Special secretary Zafar Iqbal has been named as returning officer, while Shamshad Khan, Shahid Iqbal, Asif Ali Yaseen, Waqas Ahmed, Atif Rahim, Kashif Abbas and Tabassum Javed will perform duties as polling officers for the upper house election in Islamabad.
  • ECP will announce the schedule of the Senate election on February 11.
Published 09 Feb, 2021 05:13pm
Asia Naphtha/Gasoline-Naphtha crack slips; gasoline demand seen to firm up
Energy

Asia Naphtha/Gasoline-Naphtha crack slips; gasoline demand seen to firm up

  • The naphtha crack dipped to $107.15 per tonne from $108.88 per tonne on Monday. It has surged about 77% in the last two months.
  • Naphtha flows into Asia this month was provisionally estimated around 5.6 million tonnes, down from January's of 6.2-6.3 million tonnes, Refinitiv oil research assessments showed.
Published 09 Feb, 2021 05:11pm
Sri Lankan shares extend losses, rupee falls
Stocks

Sri Lankan shares extend losses, rupee falls

  • The benchmark stock index closed down 1.8% at 7,963.77. The index is up 17.6% for the year so far.
  • Trading volume on the CSE All Share Index fell to 128.8 million, from 142.8 million in the previous session.
Published 09 Feb, 2021 05:03pm
Pakistan coach Misbah aims high after South Africa win
Sports

Pakistan coach Misbah aims high after South Africa win

  • Pakistan earned a hard-fought 95-run victory in the second Test in Rawalpindi on Monday to claim the two-match series 2-0.
  • "The ultimate goal is to be number one in Tests and top three in other formats," Misbah told reporters on a video call Tuesday.
Published 09 Feb, 2021 04:21pm
Two U.S. carrier groups conduct exercises in South China Sea
China

Two U.S. carrier groups conduct exercises in South China Sea

  • Two U.S. carrier groups conducted joint exercises in the South China Sea on Tuesday, days after a U.S. warship sailed near Chinese-controlled islands in the disputed waters, as China denounced the United States for damaging peace and stability.
  • In Beijing, Chinese Foreign Ministry spokesman Wang Wenbin said the frequent moves by U.S. warships and aircraft into the South China Sea in a “show of force” was not conducive to regional peace and stability.
Updated 09 Feb, 2021 03:43pm