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Archive - 2021-02-23
Alleged assassinator of four women social workers gunned down: ISPR
Pakistan

Alleged assassinator of four women social workers gunned down: ISPR

  • An intelligence-based operation (IBO) was carried out by security forces during which a commander of the TTP's Hafiz Gul Bahadur group, identified as Hassan alias Sajna, was gunned down, says ISPR.
  • He was allegedly involved in the murder of four women social workers on Saturday, said military’s media wing.
Updated 24 Feb, 2021 02:43am
Lucid Motors' $24 billion blank-check deal sparks bubble concerns
Companies

Lucid Motors' $24 billion blank-check deal sparks bubble concerns

  • "The EV sector feels like it's going through a correction. Lucid's SPAC-IPO probably (is) driving circular negative reinforcement."
  • We think Tesla has been valued for teleportation, so the correction is probably a very healthy thing. This allows investors to watch for potential entry points in names they feel they might have missed.
Published 23 Feb, 2021 09:15pm
South African rand gains sharply on Fed chair comments
Forex

South African rand gains sharply on Fed chair comments

  • The prospect of ongoing support by the central bank of the world's largest economy is positive for emerging markets like South Africa.
  • The rand traded at 14.5750 against the dollar, almost 0.8% firmer than its previous close.
Published 23 Feb, 2021 09:13pm
European government bond yields ignore Lagarde's verbal intervention; focus on Fed
Financial

European government bond yields ignore Lagarde's verbal intervention; focus on Fed

  • ECB President Christine Lagarde said on Monday the central bank was "closely monitoring" rising borrowing costs - a comment that knocked Germany's 10-year Bund yield off its eight-month high.
  • The ECB's strategy "is not to burn too much cash trying to lean against the wind - rather to intervene verbally", he said, citing lower levels of ECB bond-buying last week.
Published 23 Feb, 2021 09:11pm
S. Africa's Aspen forecasts 16-18pc sales growth for half year ended December
Companies

S. Africa's Aspen forecasts 16-18pc sales growth for half year ended December

  • The company, which could produce Johnson & Johnson's COVID-19 vaccine by end-March, said revenue from continuing operations is expected to grow between 16% and 18% for the six months ended Dec. 31.
  • Aspen, which also manufactures active ingredients used in medicines and helps in packaging and filling of final products, is due to report its financial results for half year ended Dec. 31 on March 11.
Published 23 Feb, 2021 09:09pm
IAEA chief Grossi describes black box-type deal reached with Iran
South Asia

IAEA chief Grossi describes black box-type deal reached with Iran

  • This is a system that allows us to continue to monitor and to register all the key activities that are taking place throughout this period so that at the end of it we can recover all this information.
  • "In other words, we will know exactly what happened, exactly how many components were fabricated, exactly how much material was processed or treated or enriched and so on and so forth."
Published 23 Feb, 2021 09:05pm
Dutch expected to ease lockdown slightly despite rising infections
Europe

Dutch expected to ease lockdown slightly despite rising infections

  • New coronavirus cases increased 19% to 29,997 in the week through Tuesday, the Dutch Institute for Public Health RIVM said, as new mutations continued to take hold.
  • "Infections would have been much higher at this stage of the epidemic without the current measures", the RIVM said.
Published 23 Feb, 2021 08:56pm
Ivory Coast to launch agricultural commodities exchange in March
Commodities

Ivory Coast to launch agricultural commodities exchange in March

  • The agricultural commodities exchange will provide a price benchmark that serves as a basis for negotiating national and international commercial contracts.
  • The exchange also expects to eventually list natural rubber and palm oil, but has not indicated any plans for Ivory Coast's top export, cocoa, which is traded on international markets.
Published 23 Feb, 2021 08:53pm
Guinea starts Ebola vaccine campaign as cases emerge
Africa

Guinea starts Ebola vaccine campaign as cases emerge

  • The vaccination uses the 'ring strategy' where all people who have come into contact with a confirmed Ebola patient are given the vaccine, as well as frontline and health workers.
  • The last time Guinea faced an Ebola outbreak, vaccines were still being developed.
Published 23 Feb, 2021 08:55pm
South African Uber drivers join global push for worker rights
Africa

South African Uber drivers join global push for worker rights

  • Uber said the decision did not apply to all its 600,000 drivers in the country, it was blow to the company's business model and a significant victory in battles being fought on many fronts against the so-called gig economy.
  • The South African case could affect up to 20,000 drivers, British law firm Leigh Day and Johannesburg-based peer Mbuyisa Moleele Attorneys said in a statement.
Published 23 Feb, 2021 08:45pm
UEFA cancel Under-19 Euro finals
Sports

UEFA cancel Under-19 Euro finals

  • The men's tournament was due to be held in Romania from June 30 with the women's event schedule for Belarus from July 21.
  • The Romanian capital Bucharest is one of the 12 host cities for the postponed men's Euro 2020 tournament with UEFA expected to make a decision on the plans for that event on March 5.
Published 23 Feb, 2021 08:39pm
Former US House security chief denies 'optics' dictated Jan. 6 decisions at Capitol
USA

Former US House security chief denies 'optics' dictated Jan. 6 decisions at Capitol

  • Irving said that on Jan. 4, he had discussed the possible use of 125 National Guard troops with then- Capitol Police Chief Steven Sund and former Senate Sergeant-at-Arms Michael Stenger.
  • Optics' as portrayed in the media did not determine our security posture ... We did discuss whether the intelligence warranted having troops at the Capitol, and our collective judgment at that time was no - the intelligence did not warrant that.
Published 23 Feb, 2021 08:36pm
Barca unable to see out games due to fear, says Koeman
Sports

Barca unable to see out games due to fear, says Koeman

  • We perhaps are a little scared when we only have a one goal advantage, it has happened to us before.
  • We had lots of possession, lots of chances, but in the end we drew 1-1. But I also have to say we've had a lot of bad luck and it's not fair. Opponents always seem to score against us when they have very few chances.
Published 23 Feb, 2021 08:34pm
Bitfinex, Tether owner pays $18.5mn fine to settle NYAG cryptocurrency cover-up charges
Forex

Bitfinex, Tether owner pays $18.5mn fine to settle NYAG cryptocurrency cover-up charges

  • James said the civil settlement with Hong Kong-based iFinex Inc and related entities will also require them to halt trading activity with New Yorkers.
  • Tether is the world's third-largest cryptocurrency, after Bitcoin and Ethereum, according to CoinMarketCap. Its market value was about $34.8 billion on Tuesday, up from $2.8 billion when James announced her charges in April 2019.
Published 23 Feb, 2021 08:29pm
Easyjet to hold investor calls for euro bond as travel hopes rise
Industry

Easyjet to hold investor calls for euro bond as travel hopes rise

  • No details were provided on how much the airline is looking to raise from the sale, but a "benchmark" euro bond issue typically has a deal size of about 500 million euros or more.
  • EasyJet said that bookings for flights for this summer had soared over 300% since Britain's announcement, and holidays by more than 600%, compared to their levels last week.
Published 23 Feb, 2021 08:21pm
Argentina's president says working to ink IMF debt deal
USA

Argentina's president says working to ink IMF debt deal

  • Speaking at a news conference during a visit to Mexico, Fernandez said he wanted to be "very careful" in his negotiations with the IMF due to the manner in which Argentina had been authorized loans in the past.
Published 23 Feb, 2021 08:26pm
Thailand increases debt plan for current fiscal year
South Asia

Thailand increases debt plan for current fiscal year

  • The new debt plan, which was increased from 1.465 trillion baht, also included borrowing for financing the budget deficit and state enterprise projects, Anucha Burapachaisri said in a statement.
  • The new debt plan will increase the country's public debt to gross domestic product (GDP) to 56.74% at the end of September, still below the 60% limit, Anucha said.
Published 23 Feb, 2021 08:08pm
Spirit posts quarterly loss on pandemic, 737 MAX pain
Companies

Spirit posts quarterly loss on pandemic, 737 MAX pain

  • "2020 was one of the most challenging years in aviation history. For Spirit, the 737 MAX grounding and the COVID-19 pandemic created a dual-crisis," Spirit Chief Executive Officer Tom Gentile said.
  • Spirit's total deliveries of shipsets, or complete sets of parts, fell 48.9% to 231 units in the fourth quarter. Boeing 737 MAX deliveries fell to 19 shipsets from 153 a year ago.
Published 23 Feb, 2021 08:02pm
UN rights boss welcomes Biden stance against death penalty
Europe

UN rights boss welcomes Biden stance against death penalty

  • I welcome the pledge by the new US Administration to work towards ending the death penalty, both at federal and state level.
  • Deterrence is often an argument of those who oppose its abolition. However, there is no evidence that it deters crime more effectively than any other punishment.
Published 23 Feb, 2021 07:59pm
Brazil power regulator eyes ways to lower electricity prices
Energy

Brazil power regulator eyes ways to lower electricity prices

  • His comments come after President Jair Bolsonaro, who roiled Brazilian markets by naming a new CEO for state-run oil company Petrobras, said his government would also "stick our finger into the electric sector," weighing on the sector's share prices.
Published 23 Feb, 2021 08:00pm
Indian shares end flat; Reliance gains, financials weigh
Stocks

Indian shares end flat; Reliance gains, financials weigh

  • There is no positive news in the near term to propel markets higher and we may continue to see such sedate moves until there are fresh triggers that will decide which way market will move going-ahead.
  • Reliance Industries was the top boost to the Nifty 50, closing up 0.8% after the conglomerate said it expected to hive off its oil-to-chemicals (O2C) business in the September quarter.
Published 23 Feb, 2021 07:53pm
Jetmakers to lose orders in Norwegian restructuring
Industry

Jetmakers to lose orders in Norwegian restructuring

  • There is a hearing ongoing and we can't comment until that is over
  • Planemakers have not so far faced sizeable cancellations directly related to the coronavirus crisis as deliveries were cushioned by deposits held on account, industry sources say.
Published 23 Feb, 2021 07:48pm
Liverpool City Council approves Everton's plans for new stadium
Sports

Liverpool City Council approves Everton's plans for new stadium

  • Whilst today is just one more step in our long journey, it's a very important one.
  • We are also enormously grateful to the many organisations and tens of thousands of individuals across the city region who have given us their feedback, ideas and support along the way. It's been a good week for Everton and Evertonians.
Published 23 Feb, 2021 07:46pm
Brazil approves Pfizer's COVID-19 shot, but has none to use
Companies

Brazil approves Pfizer's COVID-19 shot, but has none to use

  • The Pfizer/BioNTech shot is the first vaccine against the novel coronavirus to receive full approval in Brazil, Anvisa said. Other vaccines developed by AstraZeneca and China's Sinovac Biotech Ltd, have only been approved for emergency use so far.
  • The approval is good news for a country whose immunization campaign has been plagued by delays and political squabbling.
Published 23 Feb, 2021 07:44pm
Nikola announces hydrogen fuel cell-powered vehicle lineup
Business & Finance

Nikola announces hydrogen fuel cell-powered vehicle lineup

  • The lineup includes a hydrogen fuel-cell electric vehicle (FCEV) variant of Nikola's truck series Tre Cabover and Nikola Two FCEV Sleeper, a long-haul freight automobile, for the North American market.
  • Nikola said its Tre FCEV Cabover is targeted for distances up to 500 miles, while the Sleeper would allow for a non-stop range of up to 900 miles.
Published 23 Feb, 2021 07:20pm
Top banks asked to justify why they still clear euro swaps in London
Money & Banking

Top banks asked to justify why they still clear euro swaps in London

  • Clearers in Britain have EU permission to continue clearing for EU customers until mid-2022 to give banks time to shift their euro positions to the continent, but switching has been slow.
  • "The objective of this discussion is to ensure that the Commission is aware of all possible impediments, obstacles and opportunities," the document prepared for the meeting said.
Published 23 Feb, 2021 07:14pm
GB cabinet names Muhammad Ali Sadpara for civil award
Pakistan

GB cabinet names Muhammad Ali Sadpara for civil award

  • The members of the GB cabinet paid rich tributes to Sadpara and prayed for him.
  • The GB cabinet also given green-signal for the establishment of Muhammad Ali Sadpara Institute of Adventure Sports Mountaineering and Climbing, to honor his achievement.
Updated 23 Feb, 2021 07:16pm
Presiding officers tampered with NA-75 by-polls results: returning officer
Pakistan

Presiding officers tampered with NA-75 by-polls results: returning officer

  • The development was revealed in a report submitted in the Election Commission of Pakistan (ECP), in which RO Athar Abbasi said that the investigation revealed that presiding officers were involved in rigging.
  • PML-N candidate in the constituency raised reservations over the results by stating the difference between in the Form 45 copy available with her and with Presiding Officer was ‘different’.
Updated 23 Feb, 2021 07:16pm
Chinese official denies ‘delay, suspension’ on CPEC projects in Pakistan
Pakistan

Chinese official denies ‘delay, suspension’ on CPEC projects in Pakistan

  • The statement from Chinese official came after reports emerged that projects in Gwadar had been suspended or stalled due to the coronavirus pandemic and over financing disputes.
  • "It is true that COVID-19 had some negative impact on some projects but I can tell you that on CPEC projects, not a single CPEC project is suspended or delayed."
Updated 23 Feb, 2021 07:15pm
Venezuela could start receiving COVAX vaccines in May, Guaido advisor says
USA

Venezuela could start receiving COVAX vaccines in May, Guaido advisor says

  • "It depends on how long the license takes," said Dr. Julio Castro, an infectious diseases expert who advises Guaido on health issues, in a text message, estimating they may come in May.
  • Paolo Balladelli, Venezuelan Mission Chief for the Pan American Health Organization, on Saturday via Twitter thanked the opposition and the government for helping advance an agreement on COVAX.
Published 23 Feb, 2021 07:11pm
Nepal's top court orders reinstatement of parliament
South Asia

Nepal's top court orders reinstatement of parliament

  • The recommendation for the dissolution of the House of Representatives and the notice dissolving Parliament have been rejected by the honourable judges.
  • Judges heard more than a dozen petitions challenging Oli's move as unconstitutional and seeking the reinstatement of the house, which had two years to run when it was dissolved.
Updated 23 Feb, 2021 07:09pm
BofA hikes 2021 Brent price view by $10/bbl on strong oil balances
Money & Banking

BofA hikes 2021 Brent price view by $10/bbl on strong oil balances

  • The bank now expects Brent crude oil to average $60 per barrel in 2021, up from a previous estimate of $50. BofA also forecasts West Texas Intermediate (WTI) crude prices to average $57 a barrel this year.
  • Brent prices could temporarily spike to $70 a barrel in the second quarter of the year, the bank's analysts said in a note.
Published 23 Feb, 2021 07:01pm
UK PM Johnson says optimistic about fully reopening in June
Europe

UK PM Johnson says optimistic about fully reopening in June

  • I'm hopeful, but obviously nothing can be guaranteed ... I'm very optimistic that we'll be able to get there.
  • Some in Johnson's Conservative party have questioned whether the timetable for re-opening could have been quicker, given the success thus far of Britain's vaccine rollout.
Updated 23 Feb, 2021 07:01pm
Croatia T-bill auction surpasses target, yield unchanged
Financial

Croatia T-bill auction surpasses target, yield unchanged

  • After the auction, Croatia's short-term local currency debt rose to 14.66 billion kuna from 14.57 billion.
  • In March Croatia also plans to tap the international markets to refinance the 10-year bond maturing on March 24 and worth $1.5 billion.
Published 23 Feb, 2021 06:24pm
PM arrives in Sri Lanka on two-day maiden visit
Pakistan

PM arrives in Sri Lanka on two-day maiden visit

  • The PM was presented with the Guard of Honour at Bandranaike International Airport Colombo
  • Imran Khan will hold meetings with President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa, and will exchange views on key regional and international issues
Updated 23 Feb, 2021 06:27pm
UAE armed forces announce $1.6bn in defence deals
Companies

UAE armed forces announce $1.6bn in defence deals

  • The single largest contract was a 2.96 billion dirham deal with UAE's Yas Holding to supply the armed forces with missiles.
  • Boeing was awarded a 112 million dirham contract for a C-17 transport aircraft simulator. A 66.4 million dirham contract was signed with France's Thales and a 40.7 million dirham deal with Germany's Rheinmettal was also announced.
Published 23 Feb, 2021 06:14pm
Indian pharma firms go local seeking to end reliance on China
Companies

Indian pharma firms go local seeking to end reliance on China

  • Executives at India's Cadila Healthcare, Cipla , Sun Pharmaceutical and Biocon said on Tuesday they were aggressively working on reducing the dependence on the richer rival for raw materials.
  • For the critical API molecules, the idea is to go for a backward integration where you are in control of that pie which is going to make the most impact on your business, and also to make sure that the entire value chain is secure.
Published 23 Feb, 2021 06:09pm
Munich Re stops insuring Nord Stream 2 amid sanctions threat
Money & Banking

Munich Re stops insuring Nord Stream 2 amid sanctions threat

  • The US has been threatening sanctions against European companies that support construction of the $11 billion gas pipeline, and Zurich Insurance Group dropped out last month.
  • Munich Re Syndicate has issued the notice of termination to Nord Stream 2," a spokesman said in an emailed statement on Tuesday, referring to the company's subsidiary.
Published 23 Feb, 2021 06:07pm
ET allows Vawda to contest Senate polls
Pakistan

ET allows Vawda to contest Senate polls

  • Mandokhel had filed the appeal in SHC’s election tribunal and he stated that, the Returning Officer (RO) accepted Vawda’s nomination papers by neglecting of facts and law.
Published 23 Feb, 2021 06:07pm
Stocks struggle as tech slide erases commodities surge
Stocks

Stocks struggle as tech slide erases commodities surge

  • World stocks down 0.1% at fresh 2-week low.
  • Nasdaq futures down 1.5%, S&P 500 futures down 0.5%.
  • Crude oil, metal prices rise on growth outlook.
  • Expectations of faster growth spur inflation fears.
  • Eyes on Fed's Powell testimony at 1500 GMT.
Published 23 Feb, 2021 06:03pm
Chinese car maintenance start-up Tuhu plans US IPO after $400mn fundraising
Stocks

Chinese car maintenance start-up Tuhu plans US IPO after $400mn fundraising

  • Two separate sources, however, cautioned the company, which provides services via its website, mobile app, call centre and third-party platforms, has not yet made a final decision on the IPO plan.
  • Tuhu raised $300 million to $400 million from its latest fundraising at a valuation of $3.8 billion, which was led by existing investors Tencent Holdings and Sequoia Capital China, said two of the people.
Published 23 Feb, 2021 06:04pm
Sindh Cabinet orders solution to pension issues
Pakistan

Sindh Cabinet orders solution to pension issues

  • The cabinet urged the agriculture department to prepare schemes for provision of agriculture implements and installation of solar tube wells on subsidized cost and present in the cabinet for approval.
Published 23 Feb, 2021 05:50pm
Estee Lauder to pay $1 billion for controlling stake in Ordinary skincare owner
Industry

Estee Lauder to pay $1 billion for controlling stake in Ordinary skincare owner

  • The M.A.C brand owner, which is raising its stake to about 76% from about 29%, said it had agreed to purchase the remaining interest in the company after a three-year period.
  • DECIEM recorded net sales of about $460 million for the 12 months ended Jan. 31, with the United States, the UK and Canada accounting for a major portion of its business.
Published 23 Feb, 2021 05:42pm
UK-Japan trade deal settled nerves for Japanese firms
Companies

UK-Japan trade deal settled nerves for Japanese firms

  • We welcome very much the Japanese trade agreement which as a Japanese businesses was very welcomed.
  • On the point around confidence, that certainly amongst my peers in Japanese companies was very much welcomed, and probably settled a lot of nerves in terms of their trading prospects in the UK going forward.
Published 23 Feb, 2021 05:33pm
Brazil's BNDES closes out its stake in miner Vale
Companies

Brazil's BNDES closes out its stake in miner Vale

  • The sources said that BNDES was still eager to reduce its holdings in state-run oil company Petroleo Brasileiro SA.
  • Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value.
Published 23 Feb, 2021 05:30pm
Thai jobless rate dips in Q4 but remains near multi-year high
South Asia

Thai jobless rate dips in Q4 but remains near multi-year high

  • Employment increased slightly, while the unemployment rate remained high and working hours were still lower than pre-crisis levels.
  • Employment increased slightly, while the unemployment rate remained high and working hours were still lower than pre-crisis levels.
Published 23 Feb, 2021 05:22pm
Macy's forecasts upbeat 2021 sales
Companies

Macy's forecasts upbeat 2021 sales

  • The company expects sales between $19.75 billion and $20.75 billion for the full year, compared with analysts' estimates of $20.13 billion.
  • Same-store sales on an owned basis fell 17% in the fourth quarter ended Jan. 30, compared with Wall Street estimates of a 16.60% fall.
Published 23 Feb, 2021 05:20pm
Sovereign wealth funds pull $16.3 billion from market strategies in Q4
Financial

Sovereign wealth funds pull $16.3 billion from market strategies in Q4

  • Net outflows from equity strategies managed by third-party fund managers reached $18.5 billion in the final three months of 2020, eVestment data showed.
  • Across all asset classes, net outflows from long-only managers handling sovereign wealth investments were $16.3 billion, the largest amount since the first quarter of 2017, the data showed.
Published 23 Feb, 2021 05:11pm
Oprah-backed Oatly plants IPO seed with private regulatory filing
Stocks

Oprah-backed Oatly plants IPO seed with private regulatory filing

  • Oatly, known for its oat milk products, has tie-ups with several cafes in the United States, including Starbucks and also sells its products online and in retail stores.
  • Oatly raised a $200 million equity investment in July last year from a group led by Blackstone Group Inc that includes Oprah Winfrey, Natalie Portman and former Starbucks Corp chief Howard Schultz.
Published 23 Feb, 2021 05:11pm
Broadsheet pays Rs4.5 million to Sharif family in London lawsuit
Pakistan

Broadsheet pays Rs4.5 million to Sharif family in London lawsuit

  • Broadsheet has made a payment for the settlement of the Sharif family’s legal costs after having withdrawn the Avenfield Apartments attachment application
  • Lawyers acting for the Sharif family have confirmed that the payment has been received in their bank account
Published 23 Feb, 2021 05:13pm
Paris raps Pakistan over Alvi remarks on French Muslims
World

Paris raps Pakistan over Alvi remarks on French Muslims

  • Alvi said, “When you see that laws are being changed in favor of a majority to isolate a minority, that is a dangerous precedent.”
  • "It is guided by the basic principles of freedom of religion and conscience, makes no distinction between the different religions and applies therefore equally to all faiths," the ministry said.
Published 23 Feb, 2021 04:52pm
Biden, Trudeau go online for US-Canada bilateral
USA

Biden, Trudeau go online for US-Canada bilateral

  • Biden and Trudeau will address several mutual priorities, including tackling climate change, revving up the North American economy, the Arctic, and threats to democracy in Myanmar and Venezuela.
Published 23 Feb, 2021 04:56pm
Faisal Vawda allowed to contest Senate elections
Pakistan

Faisal Vawda allowed to contest Senate elections

  • The election tribunal dismissed the petition challenging the Senate nomination of Vawda.
  • Today is the final day of the two-day process for election tribunals to hear and decide and appeals against acceptance and rejection of Senate nominations.
Updated 23 Feb, 2021 04:49pm
UK's Prince Philip spends seventh night in hospital
World

UK's Prince Philip spends seventh night in hospital

  • They have moved with their son Archie to Southern California to live a more independent life and escape the British media, and next month will give a "wide-ranging" interview to US chat show host Oprah Winfrey.
Published 23 Feb, 2021 02:07pm
China's Jan new home prices quicken as mega cities heat up
Real Estate

China's Jan new home prices quicken as mega cities heat up

  • China's property market recovered quickly from the COVID-19 crisis last year, mostly in bigger cities. But the rebound has raised concerns about financial risks and policymakers have since then tightened screws on the funnelling of funds into the sector.
Published 23 Feb, 2021 12:18pm
Palm oil gains 2% as crude, soyoil rise
Commodities

Palm oil gains 2% as crude, soyoil rise

  • The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange rose 74 ringgit, or 2.1%, to 3,618 ringgit ($895.32) a tonne during early trade.
Published 23 Feb, 2021 12:09pm
PM leaves for two-day visit to Sri Lanka

PM leaves for two-day visit to Sri Lanka

  • This will be PM Khan's first visit to Sri Lanka after assuming office.
  • "Thank you for your invitation Prime Minister Mahinda Rajapaksa. Looking forward to my visit to further strengthen the friendship & cooperation between our two countries," the PM tweeted.
Updated 23 Feb, 2021 12:04pm
Facebook cuts deal with Australia, will restore news pages in the coming days
World

Facebook cuts deal with Australia, will restore news pages in the coming days

  • Treasurer Josh Frydenberg and Facebook said a compromise had been reached on key aspects of the law, which was fiercely opposed by the tech companies
  • A global outrage sparked last week after the social media platform blacked out news for its Australian users and inadvertently blocking a series of non-news Facebook pages
Published 23 Feb, 2021 11:02am