News Archives for Latest - 2021-02-23

Pakistan

PM requests PTI candidate to ask for re-polling as opposition 'crying hoarse over' Daska by-election

"I would request our PTI candidate to ask for re-polling in the 20 polling stations Opposition is crying hoarse over in the Daska NA 75 bye- election," the PM tweeted.
Election Commission of Pakistan (ECP) will meet today to decide whether to announce the unconfirmed and unofficial results or not.

Updated 24 Feb, 2021 04:52pm

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

Pakistan

Pakistan, Sri Lanka agree to further strengthen economic, trade relations

"Pakistan has been the victim of the worst terrorism for ten years, sacrificing 70,000 lives" over the past decade," he stated.
- Imran Khan also invited Sri Lanka to promote its economic and regional ties through Pakistan.

Updated 23 Feb, 2021 09:47pm

Stocks

Slide in growth stocks pummel Nasdaq, Powell testimony underway

Fed's Powell says support for economy needed for "some time".
Growth stocks resume slide.
Tesla falls as bitcoin sell-off weighs.
Home Depot slips on unclear consumer spending outlook.
Indexes fall: Dow 0.58%, S&P 1.05%, Nasdaq 2.43%.

Published 23 Feb, 2021 09:26pm

Energy

Oil holds near year-long highs as COVID lockdowns seen easing

Brent could hit $70-75 a barrel in third quarter, say banks.
US crude, refined product stocks seen falling last week.
Coming up: US API inventory data at 2130 GMT.

Published 23 Feb, 2021 09:26pm

Money & Banking

US bank profits fell 36.5pc in 2020 on pandemic concerns: FDIC

The industry posted $147.9 billion in profits in 2020, a sharp decline from record 2019 profits, according the Federal Deposit Insurance Corporation.
The banking industry maintains strong capital and liquidity levels, which can mitigate potential future losses.

Published 23 Feb, 2021 09:19pm

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

Pakistan

Drugs elimination imperative to ensure healthy society: Ijaz Shah

He suggested that professional training be imparted to the under treatment patients.

Published 23 Feb, 2021 09:14pm

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

Pakistan

LHC adjourns hearing of Hamza's bail plea till Feb 24

The bench adjourned further hearing till February 24 and directed counsel for NAB to conclude his arguments.

Published 23 Feb, 2021 09:13pm

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

Pakistan

Usman offers re-election on 20 polling stations to settle dispute with PML-N

He said that PML-N, had expressed reservation over the results of 20-polling stations set up in Daska to facilitate voters.

Published 23 Feb, 2021 09:11pm

Pakistan

Byco Petroleum’s net profit 4.5 times up at Rs 961mn

This increase to Rs 961 million equates to earnings per share of Rs 0.18 compared to net profit of Rs 213 million and earnings per share of Rs 0.04 the previous year.

Published 23 Feb, 2021 08:53pm

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

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

Money & Banking

Bank of Montreal, Scotiabank beat profit expectations, signal better times ahead

BMO shares rose 2.8% to C$104.68 in morning trading in Toronto, on track for their highest close since May 2019. Scotiabank shares increased 2.7% to C$74.01, heading for their best day in over a year.
Scotiabank took PCLs of C$764 million, compared with the expected C$928 million.

Published 23 Feb, 2021 09:03pm

South Asia

Iran's rulers close ranks, raise pressure on Biden to lift sanctions

State daily raps MPs over law against snap UN inspections.
Deal with IAEA to soften law creates window for diplomacy.
Government seeks revival of 2015 deal despite tough talk.
Driven by crippling of Iran's economy under US sanctions.

Published 23 Feb, 2021 08:58pm

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

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

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

Pakistan

SC adjourns NAB plea seeking cancellation of Siraj Durrani's bail

The case was adjourned for two weeks.

Published 23 Feb, 2021 08:50pm

Stocks

Brazil shares recover as Petrobras jumps; Mexican peso breaks losing streak

Petrobras' board is set to meet on Tuesday to rule on Brazilian President Jair Bolsonaro's appointment of former Defense Minister Joaquim Silva e Luna to run the state run firm.
Bolsonaro's decision to replace Petrobras' CEO is dashing hopes of Brazil's return to economic orthodoxy.

Published 23 Feb, 2021 08:49pm

Pakistan

Corona vaccination of senior citizens from next month

He said that new batch of vaccines from NCOC has been received and delivered to 33 districts wherein vaccination centres have also been established.

Published 23 Feb, 2021 08:49pm

Europe

UK's Prince Philip to stay in hospital, son Edward says he is a lot better

The Duke of Edinburgh remains at King Edward VII's Hospital where he is receiving medical attention for an infection.
He is comfortable and responding to treatment but is not expected to leave hospital for several days.

Published 23 Feb, 2021 08:47pm

Pakistan

Provision of quick , speedy justice to litigants need of hour: CJ

The chief justice warned the judiciary of dire circumstances if the people lose their faith in the country’s judicial system.

Published 23 Feb, 2021 08:47pm

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

Pakistan

CM chairs meeting of PTI, PML-Q Senate elections' candidates

The CM stated the PTI and PML-Q candidates would succeed and a strategy had been devised in this regard.

Published 23 Feb, 2021 08:45pm

Money & Banking

Forint firms after Hungary central bank leaves rates unchanged, flags CPI risks

"Emphasizing the risk of higher inflation made the bank sound more hawkish than last month," a Budapest-based FX trader said.
"This has been priced in by the market to some extent, however, the forint could strenghten as far as 355 this week."

Published 23 Feb, 2021 08:43pm

Pakistan

SAPM Gill discusses Senate polls with CM Buzdar

The PTI government was taking decisions in the larger public interest and the Punjab government's steps for ameliorating the lot of the common man were laudable, SAPM said.

Published 23 Feb, 2021 08:44pm

Pakistan

FBR holds tax awareness session at FG Sir Syed College Rawalpindi

The statement said that the Facilitation and Taxpayers Education Wing (FATE) of FBR held the first Educational Awareness Session in the college.

Published 23 Feb, 2021 08:43pm

Europe

Britain agrees to EU request for more time to ratify Brexit trade deal

In a letter to Maros Sefcovic, vice president of the European Commission, Gove wrote: "I can confirm that the United Kingdom is content to agree that the date on which provisional application shall cease to apply ... should be extended to 30 April 2021."

Published 23 Feb, 2021 08:41pm

Pakistan

NA passes three legislative proposals, refers eight bills to committees

The House was adjourned to meet again on February 26, 2021 at 11 am.

Published 23 Feb, 2021 08:42pm

Pakistan

Opposition seeks Haleem Adil Sheikh’s production order

He said that the parliamentary leaders of PTI and GDA, and MQM-P in Sindh Assembly have met with the Speaker of the sindh assembly.

Published 23 Feb, 2021 08:40pm

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

Pakistan

Pakistan, Sri Lanka agree to further cement bilateral ties in diverse areas through enhanced connectivity

The prime minister said he had asked his delegation to find ways and means to enhance trade and economic relations between the two countries through increased connectivity.

Published 23 Feb, 2021 08:39pm

Money & Banking

BoE not targeting change in insurers' capital, says Gerken

We are not looking for increase or decrease ... but are interested in the evidence as to ... what is the amount of capital that is about right. *"The industry has proven resilient over the last 12 months in the current regime," she said.

Published 23 Feb, 2021 08:38pm

Pakistan

KP CM rebuts rumours of differences of PTI MPs with party

He said that PTI was a party of sincere, devoted and committed workers who stand firm with the ideology of party head Imran Khan.

Published 23 Feb, 2021 08:32pm

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

Middle East

Iran starts limiting UN inspections until US lifts sanctions

Zarif said the changes would have no major immediate impact on the work of the IAEA inspectors.

Published 23 Feb, 2021 08:30pm

Stocks

TSX eyes worst day in a month on weaker crude, inflation concerns

The energy sector dropped 2.8%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 3.4%.
Toronto Stock Exchange's S&P/TSX composite index was down 341.28 points, or 1.85%, at 18,075.46.

Published 23 Feb, 2021 08:34pm

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

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

Europe

Six EU countries warned over border restrictions

EU leaders are to discuss the virus situation in the bloc on Thursday and Friday, during a videolink summit.

Published 23 Feb, 2021 08:28pm

Pakistan

NA passes bill against corporal punishment of children in Islamabad

The bill was tabled by Pakistan Muslim League Nawaz (PML-N) MNA Mehnaz Akbar Aziz.
The bill allows the authorities to sack or suspend those violating the law.

Published 23 Feb, 2021 08:23pm

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

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

Stocks

European stocks extend losses, bitcoin tumbles

Sterling traded around near three-year highs against the dollar.

Published 23 Feb, 2021 08:25pm

World

EU envoy warns Ethiopia Tigray crisis 'out of control'

Haavisto warned that Sudan is struggling to cope with the influx and that it risked spiralling into a new driver for refugees towards Europe.

Published 23 Feb, 2021 08:23pm

Africa

Senegal launches vaccination campaign

The start of the campaign comes after the government received 200,000 doses of the Chinese-made coronavirus vaccine Sinopharm last week.

Published 23 Feb, 2021 08:21pm

Europe

Turkey accuses Greek jets of 'harassing' Turkish boat

The scene was set for tensions when Turkey announced last Monday the Cesme ship would conduct a hydrographic survey from February 18 until March 2.

Published 23 Feb, 2021 08:20pm

Companies

Kumba Iron Ore pays out cash and invests in Sishen mine after strong profits

Kumba Iron Ore reports 40% rise in FY profit.
Declares higher final dividend.
To invest 3.6 bln rand to extend Sishen life of mine.

Published 23 Feb, 2021 08:10pm

World

Brazil approves Pfizer Covid vaccine for widespread use

Brazil has vaccinated about 5.9 million people so far, or 2.8 percent of its population of 212 million.

Published 23 Feb, 2021 08:18pm

Middle East

Syria's rebel-held northwest to get Covid vaccines by end March: WHO

The doses were procured through the UN body's Covax programme, which aims to provide equitable worldwide access to vaccines against Covid-19.

Published 23 Feb, 2021 08:17pm

South Asia

Nepal supreme court resinstates parliament dissolved by PM

The court's decision was welcomed by the opposition as well as members of the dissident faction of Oli's own party.

Published 23 Feb, 2021 08:16pm

Sports

Mourinho says 'nobody is depressed' at Spurs despite slump

Mourinho said he was in constant contact with chairman Daniel Levy and there was no friction between the pair.

Published 23 Feb, 2021 08:14pm

Stocks

European stocks slip, bitcoin tumbles

Oil prices also declined following fresh gains a day earlier.

Published 23 Feb, 2021 08:13pm

Europe

Ukraine gets first Covid vaccine doses, rollout on Wednesday

The country of 40 million people is one of the poorest in Europe and one of the last in the region to begin a jab drive.

Published 23 Feb, 2021 07:57pm

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

Stocks

Shares in Brazil's Petrobras rebound after Monday plunge

Shares in Petroleo Brasileiro SA, as the company is officially known, plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value.

Published 23 Feb, 2021 08:06pm

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

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

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

Stocks

Higher oil prices push Saudi index up, while Egypt declines

Dubai index ends a five-day losing streak.
Etisalat gains on FY dividend.
Qatar falls for a fifth consecutive day.

Published 23 Feb, 2021 07:50pm

Forex

Dollar bounces off six-week low as traders prepare for Powell

Dollar briefly hits lowest since Jan. 13.
Aussie, Kiwi hold near multi-year highs.
Bitcoin takes another dive after record price.

Published 23 Feb, 2021 07:59pm

Stocks

Sri Lankan shares extend losses as industrial, financial stocks slip

The benchmark stock index ended 3.53% lower at 7,329.21.
After markets closed on Monday, data showed that the island nation's national consumer price inflation was up 3.7% year-on-year in January.

Published 23 Feb, 2021 07:57pm

Pakistan

Reference against Gilani adjourned till March 15

Co-accused Farooq Awan's lawyer adopted the stance that his client was currently abroad due to health issues, and prayed the court to issue orders for removal of his name from ECL.

Published 23 Feb, 2021 07:55pm

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

Pakistan

Imran Khan, Sri Lankan PM discuss bilateral, regional matters

The two sides focused on strengthening ties in areas of trade and investment, health and education, agriculture, science & technology, security, culture and tourism.

Published 23 Feb, 2021 07:54pm

Pakistan

Nishtar inaugurates control room to oversee Ehsaas stipends

To assist with this, 25 Compliance Monitoring Coordinators have been hired who would monitor the control room and 882 Compliance Monitors have been hired for monitoring in the field.

Published 23 Feb, 2021 07:52pm

Pakistan

References against Khaqan Abbasi, Ahsan Iqbal adjourned without proceedings

During the course of proceedings, the court allowed Advocate Chaudhry Safir Akhter to appear as representative of Miftah Ismail.

Published 23 Feb, 2021 07:51pm

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

Pakistan

PTI ready to hold re-election in NA-75: Shahbaz Gill

He said that Imran Khan would fulfill re-polling demand of the opposition including PML-N if they desired so.

Published 23 Feb, 2021 07:49pm

Pakistan

NAB recovers 562 acres land worth Rs21 billions as plea bargain

The court endorsed the plea bargain after inquiry it from the accused.

Published 23 Feb, 2021 07:48pm

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

Pakistan

Corona claims three more lives at Nishtar Hospital

Twenty-four patients are positive and 19 are suspected out of total 59 cases, he stated.

Published 23 Feb, 2021 07:47pm

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

Pakistan

Minister orders strict monitoring of essential items' prices

The minister directed that every effort should be made to sell quality items at government fixed rates and consumers' rights should be protected.

Published 23 Feb, 2021 07:47pm

Pakistan

Even Field possession failure not exonerated PML-N from corruption charges: Shahzad Akbar

He said to date PML-N had failed to provide money trail of Even Field apartments.

Published 23 Feb, 2021 07:44pm

Commodities

Sugar extends rally, hitting highest in nearly four years

March raw sugar edged up 0.3% to 18.84 cents per lb.
May arabica coffee edged up 0.3% to $1.3530 per lb.
May London cocoa firmed by 0.1% to 1,839 pounds a tonne.

Published 23 Feb, 2021 07:39pm

Pakistan

COVID-19 claims 9 more lives, infects 296 others

He said that 9 more patient of COVID-19 lost their lives lifting the death toll to 4,301 that constituted 1.6 percent death rate.

Published 23 Feb, 2021 07:35pm

Europe

UK data points to record outflow of foreign workers in 2020

Britain has suffered Europe's highest death toll from coronavirus and the biggest economic hit of any major economy.
"I have no doubt that we have seen an outflow of people that is unprecedented in recent history," he said.

Published 23 Feb, 2021 07:36pm

Companies

G4S urges shareholders to accept Allied deal as bid battle ends

G4S recommends vote for Allied's final offer.
Allied offer open for acceptance until March 16.
Says acceptance level lowered to 75% from 90%.

Published 23 Feb, 2021 07:33pm

Pakistan

IHC directs FO to apprise PM about international laws in falcons' export case

The court adjourned hearing of the case till March 4.

Published 23 Feb, 2021 07:34pm

Pakistan

Ambassador of Qatar calls on Minister for National Food Security

Both dignitaries said that the bilateral relationship between Qatar and Pakistan was very cordial and should be further strengthened.

Published 23 Feb, 2021 07:32pm

Energy

US natgas futures slip 2pc as warmer weather allows output to return

That small decline comes despite forecasts for higher demand next week as liquefied natural gas (LNG) exports rise.
On their second to last day as the front-month, gas futures for March delivery fell 6.3 cents, or 2.1%, to $2.890 per million British thermal units.

Published 23 Feb, 2021 07:21pm

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

Pakistan

COVID-19 claims 41 lives, infects 1,050 more people

During the last 24 hours most of the deaths had occurred in the Punjab followed by Khyber Pakhtunkhwa.

Published 23 Feb, 2021 07:30pm

Pakistan

‘Rehmatul-lil-Alameen’ scholarship programme to emulate Madina like welfare state: Firdous

She said the government was working on introducing uniform curriculum to overcome discrimination in field of education.

Published 23 Feb, 2021 07:29pm

Pakistan

Offer of re-polling in 20 polling stations manifestation of PM's struggle for transparency: Shibli

He said that the duplicity of the prime minister's opponents has been exposed to the nation.

Published 23 Feb, 2021 07:28pm

Pakistan

SNGPL to spend Rs9bn on transmission network’s reinforcement in KP

He said the ECC had approved Phase-I of the project amounting to Rs 1.945 billion for four SMSs including Shakardara, Chokara, Karak and Hangu.

Published 23 Feb, 2021 07:26pm

Pakistan

Pakistan earns US $224mn from export of travel services in 1st half

This shows decline of 18.54 percent as compared to US $275.114 million same services were provided during the corresponding period of fiscal year 2019-20.

Published 23 Feb, 2021 07:25pm

Pakistan

SBP defers Rs 657.16 billion under refinancing scheme during COVID-19

The number of borrowers that would benefit from this rescheduling relief has risen to 1,767,599 with outstanding amount of Rs 2.54 billion, it said.

Published 23 Feb, 2021 07:22pm

Pakistan

USC likely to announce special 'Ramzan discount package' from April 1: MD announces

The MD said the package would be approved by the Economic Coordination Council (ECC).

Published 23 Feb, 2021 07:21pm

Pakistan

President stresses enhanced Pak-Uzbek bilateral ties

He asked the ambassador to work for promotion of trade and economic relations between the two countries.

Published 23 Feb, 2021 07:20pm

Commodities

Jordan buys about 60,000 tonnes feed barley in tender

It was bought at an estimated $264.50 a tonne c&f for shipment in the first half of September. Seller was believed to be trading house Viterra.

Published 23 Feb, 2021 07:17pm

Pakistan

Industrial power consumption increases by 17pc in January: Hammad

He said by abolishing the peak hours concept for industry, the consumption also increased by 28 percent during these hours.

Published 23 Feb, 2021 07:18pm

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

Pakistan

CDNS reaches at Rs 530 billion free deposits

The CDNS has set Rs 249 billion annual collection target for the year 2020-21.

Published 23 Feb, 2021 07:17pm

Pakistan

Sindh election commissioner conferred magistrate powers for Senate elections

The date for withdrawal of nomination papers is February 25.

Published 23 Feb, 2021 07:16pm

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

Pakistan

Senate elections: tribunal dismisses Pervaiz Rasheed appeal

The tribunal comprising Justice Shahid Waheed heard the appeal wherein the PML-N leader along with his counsel appeared.

Published 23 Feb, 2021 07:14pm

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

South Asia

India says virus variants not behind spurt in cases

At least 5 variants detected in country.
Total infections at more than 11 mln, over 156,000 deaths.

Published 23 Feb, 2021 07:12pm

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

Pakistan

PDM can't blackmail govt with false tactics: Senator Faisal

He said Prime minister is a visionary leader who always tried to eliminate corruption from the political system.

Published 23 Feb, 2021 07:13pm

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

Pakistan

Rupee gains 18 paisas against US dollar

Buying and selling rates of dollar were recorded at Rs158.8 and Rs159.5 respectively.

Published 23 Feb, 2021 07:12pm

Pakistan

PML-N again shifts its stance; demands re-polling in whole constituency: Fawad Chaudhry

It was for the first time that any government had not shown its power in the by-election, he said.

Published 23 Feb, 2021 07:10pm

Commodities

Paris wheat pauses after rally, rapeseed hits near 8-year high

May milling wheat, now the most active contract on Paris-based Euronext, was down 0.25 euro, or 0.1%, at 229.00 euros ($278.12) a tonne.
The contract earlier equalled Monday's one-month high of 229.75 euros but again failed to breach resistance at 230 euros.

Published 23 Feb, 2021 07:07pm

Pakistan

PM arrives in Colombo on 2-day official visit

Prime Minister Imran Khan is undertaking the visit to the island nation on the invitation of his Sri Lankan counterpart Mahinda Rajapaksa.

Published 23 Feb, 2021 07:09pm

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

Pakistan

'Reign of terror in Sindh by PPP reminds me Hitler': Ali Zaidi

He said that Bilawal should stop crying and look at what his own government is doing? but looks like he is an aider & abettor.

Published 23 Feb, 2021 07:07pm

Pakistan

PM has accepted PML-N’s challenge of re-polling at 20 polling stations in NA-75: Shibli

He said only those opposed open ballot who planned to indulge in horse trading and malpractices.

Published 23 Feb, 2021 06:55pm

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

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

Pakistan

LNG company promises uninterrupted gas supply through virtual pipeline

Yasir Hameed said that the government had announced stopping gas supply to the captive power plants of the industrial sector from June this year.

Published 23 Feb, 2021 06:53pm

Pakistan

Industrial use of electricity witnesses 17pc increase in Jan: Omar Ayub

The minister said the Industry has started performing and it was real change.

Published 23 Feb, 2021 06:51pm

Pakistan

Broad-based agreement signed by AJK Govt, FBR to augment tax net in AJK harmonious to needs of modern age

The AJK CS, on this occasion, described the agreement a milestone in the history of the taxation system in the State.

Published 23 Feb, 2021 06:51pm

Pakistan

Pakistan aims to enhance trade, investment relations with Sri Lanka: Razak

Razak Dawood said Sri Lanka was very important country for Pakistan as “we signed our first-ever FTA with it".

Published 23 Feb, 2021 06:43pm

Pakistan

FPCCI for paying special attention to rehabilitate ailing industries

He advised the owners of ailing industrial units to contact the FPCCI for necessary assistance towards rehabilitation of their ailing industry.

Published 23 Feb, 2021 06:43pm

Pakistan

NEPRA makes public inquiry report into country’s wide power outage

The regulator said a number of deficiencies were noted in 220kV switchyard and control room at TPS Guddu which needed to be addressed on top priority.

Published 23 Feb, 2021 06:41pm

Pakistan

PSX loses 161 points to close at 45,728 points

As many as 359 companies transacted shares in the stock market, 135 of them recorded gain and 205 sustained losses.

Published 23 Feb, 2021 06:31pm

Pakistan

NA Speaker directs Chief Secretary to submit report about killing of aid workers

Dawar raised the issue following which the speaker directed Chief Secretary Khyber Pakhtunkhwa to submit report in the House within one week.

Published 23 Feb, 2021 06:29pm

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

Pakistan

SECP proposes reduction in turnaround time for payment of cash dividends

The SECP has issued draft amendments to Companies (Distribution of Dividends) Regulations, 2017 to solicit public comments.

Published 23 Feb, 2021 06:26pm

Pakistan

Moulana Azad for promoting religious harmony, brotherhood in country

He said all committee members would be taken on board and Ruet-e-Hilal would be source of unity and harmony in the country.

Published 23 Feb, 2021 06:25pm

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

Money & Banking

Wells Fargo sells asset management arm to private equity firms for $2.1bn

The sale represents the biggest shake-up at the US bank since former Bank of New York Mellon top boss Charles Scharf joined as chief executive officer in 2019.
Wells Fargo will own a 9.9% stake in the asset management unit and will continue as a client and distribution partner, the bank said.

Published 23 Feb, 2021 06:17pm

Pakistan

Gold prices decrease Rs 50 to 110,700

The price of per tola silver increased by Rs 10.

Published 23 Feb, 2021 06:24pm

Pakistan

Khawaja Asif's production orders case adjourned

The hearing was adjourned as the petitioner's lawyer couldn't appear due to COVID-19.

Published 23 Feb, 2021 06:19pm

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

Pakistan

CM orders to resolve pension issues, teachers transfer policy

Murad Ali Shah directed the Chief Secretary to personally resolve the issue so that payment pension and other areas may be resolved once for all.

Published 23 Feb, 2021 06:17pm

Pakistan

President emphasizes on further strengthening Pakistan's ties with Uzbekistan

The President asked the Ambassador-designate to put in his best efforts to promote economic and trade ties between the two countries.

Published 23 Feb, 2021 06:16pm

Pakistan

Govt to introduce electoral reforms to ensure transparency in elections: Fawad

He said all possible measures will be taken to ensure transparency in elections.

Published 23 Feb, 2021 06:15pm

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

Pakistan

ECP to take final decision regarding by-election in NA-75 Daska: Shibli

He said the politics of the PML-N and the PPP is based on lies.

Published 23 Feb, 2021 06:14pm

Pakistan

PTI, PML-Q candidates to secure victory in Senate elections: Buzdar

The Chief Minister said a parliamentary party meeting will soon be convened regarding the Senate elections.

Published 23 Feb, 2021 06:13pm

Pakistan

Masood welcomes concerns of UN experts over change of demography of IIOJ&K

He said Jammu and Kashmir is a Muslim majority state and not a part of India.

Published 23 Feb, 2021 06:12pm

Pakistan

PM’s offer for re-polling in NA-75, manifestation of his struggle for transparent polls: Shibli

He said their double standards have been exposed before masses.

Published 23 Feb, 2021 06:10pm

Pakistan

PM endeavouring to rectify county’s political system: Faisal

He said the opposition should play constructive role in democracy instead of pursuing their vested interests.

Published 23 Feb, 2021 06:09pm

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

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

Pakistan

Happy to play cricket amid pandemic: Chris Gayle

In the first two HBL PSL seasons, Gayle donned Lahore Qalandars’ and Karachi Kings’ colours in 2016 and 2017, respectively.

Published 23 Feb, 2021 06:05pm

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

Pakistan

Balochistan governor says more dams required to boost agri sector

He said that endeavours of peasants and livestock holders helped increase the national production.

Published 23 Feb, 2021 06:04pm

Pakistan

Global covid cases decreasing gradually: Dow University VC

Saeed Quraishy said that last year there was problem not only for students and teachers but also for the university and education.

Published 23 Feb, 2021 06:02pm

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

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

Financial

US bill rates risk going negative, but stimulus could change the course

The US Treasury Department, slashing its cash balance after amassing liquidity to pay for fiscal stimulus, which was delayed.
It plans to cut its cash balance to $500 billion in June, from $1.7 trillion at year-end.

Published 23 Feb, 2021 05:58pm

Companies

Lloyd's insurer Brit says it will not insure Adani coal mine

Brit does not, has never, and will not write any policies relating directly to the Adani Carmichael coal mine itself.
Brit also confirms that it does not plan to renew any risks involving any other works directly associated with the project.

Published 23 Feb, 2021 05:56pm

Commodities

Copper's spectacular rally slows at 9 1/2-year highs

Benchmark copper on the London Metal Exchange was up 0.2% at $9,112 a tonne. *Prices have shot up 16% in February, the biggest monthly rise since November 2016, taking gains since the start of 2020 to around 50%.

Published 23 Feb, 2021 05:49pm

Africa

At least nine drown as boat sinks on family excursion on Egyptian lake

Seven people survived the accident on Lake Mariout including five who required medical treatment, a statement said. A search was under way for an unspecified number of missing people.

Published 23 Feb, 2021 05:47pm

Europe

UK unemployment edges up to 5.1pc on pandemic fallout

The number of payroll employees tumbled by 726,000 between February and January 2021, it said.

Published 23 Feb, 2021 05:47pm

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

South Asia

Suu Kyi's lawyer soldiers on 'in defence of democracy'

The new military regime has pledged to hold elections in a year, but for now the junta wields power over all the country's political institutions -- including its courts.

Published 23 Feb, 2021 05:46pm

Stocks

Asian markets mostly up but optimism tempered by inflation fear

The tech-rich Nasdaq tumbled more than two percent Monday, while the S&P 500 was also in the red, though the Dow eked out gains.

Published 23 Feb, 2021 05:43pm

World

UN World Food Programme warns could suspend work in N. Korea

"WFP will opportunistically use windows in which food imports are allowed to replenish and optimise in-country stocks," it added.

Updated 23 Feb, 2021 05:45pm

Middle East

World Bank threatens to stop funding Lebanon's COVID-19 vaccines after reported violations

In its first operation funding the purchase of COVID-19 vaccines, the World Bank reallocated $34 million to help Lebanon start vaccinations.
"Upon confirmation of violation, World Bank may suspend financing for vaccines and support for COVID19 response across Lebanon!!"

Published 23 Feb, 2021 05:40pm

Europe

Demos planned in Georgia after opposition leader arrested

The raid sparked swift condemnation from the US and UK embassies in Georgia, mounting fears over the country's fragile democracy.

Updated 23 Feb, 2021 05:43pm

Middle East

Israel giving ‘symbolic’ amounts of COVID vaccines to Honduras, others

An Israeli official said Honduras was among the recipients. Israel has been importing Pfizer Inc and Moderna Inc vaccines and, according to the Health Ministry, has administered them to almost 50% of its 9 million population.

Published 23 Feb, 2021 05:38pm

Africa

Senegal begins vaccinating against coronavirus with doses from China

The first shots were given to government ministers and health workers at the health ministry in the capital, Dakar.
Earlier this month the government said it paid a little over 2 billion CFA francs ($3.74 million) for the Sinopharm doses to kickstart its campaign.

Published 23 Feb, 2021 05:35pm

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

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

Companies

Maersk backs plan for large green ammonia plant in Denmark

There is a very real sense of urgency in curbing shipping's emissions, and we must develop scalable carbon neutral fuels.
"Therefore, we welcome this project as an important development of green ammonia supply in the future."

Published 23 Feb, 2021 05:28pm

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

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

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

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

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

Middle East

S. Korea, Tehran agree 'proposals' on oil billions: Seoul

The South's foreign ministry said Iran's central bank governor and Seoul's ambassador had reached an agreement in Tehran.

Published 23 Feb, 2021 05:09pm

World

Canadian MPs say China's treatment of Uighurs is 'genocide'

The motion also called for the 2022 Beijing Winter Olympics to be moved if the "genocide" continues.

Published 23 Feb, 2021 05:06pm

Middle East

Pakistan mending ties with Arab bloc, after diplomatic rift in 2020

Pakistan has found itself in a fruitful position, having mended relations with the Saudi-led bloc of Arab nations, while also maintaining ties with an alternate alliance challenging for a leadership role in the wider Muslim world.

Updated 23 Feb, 2021 05:09pm

South Asia

Myanmar generals under renewed pressure after G7 condemnation, sanctions

Mandalay saw a more sombre crowd at the funeral of Thet Naing Win, a 37-year-old man shot and killed Saturday when security forces opened fire into a crowd of anti-coup protesters.

Published 23 Feb, 2021 05:03pm

Africa

Hutu rebels accuse DRC, Rwanda over Italian's killing

The Italian government confirmed the death and said an Italian policeman, Vittorio Iacovacci, and a driver it did not identify, had also died.

Published 23 Feb, 2021 05:00pm

South Asia

Hong Kong to disqualify disloyal politicians and officials

The city's Secretary for Constitutional and Mainland Affairs Erick Tsang confirmed that criticism of the Chinese Communist Party could also be a disqualifying factor.

Published 23 Feb, 2021 04:58pm

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

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

Africa

S.Africa's Zuma arms deal corruption case to heard in May

Zuma is facing 16 charges of fraud, graft and racketeering relating to the purchase of fighter jets, patrol boats and military equipment.

Published 23 Feb, 2021 04:54pm

Europe

Ukraine takes Russia to Europe rights court over 'targeted assassinations'

Ukraine argues that they constitute an infringement of the right to life, which is protected by the Convention on Human Rights, to which Russia is a signatory.

Published 23 Feb, 2021 04:53pm

Africa

Jobless rise leaves nearly a third out of work in S.Africa

The number of unemployed rose by 701,000 to 7.2 million compared to the third quarter of 2020," Stats SA said in a statement.

Published 23 Feb, 2021 04:51pm

Europe

Ukraine receives first Covid-19 vaccine doses

The country of 40 million people is one of the poorest in Europe and one of the last in the region to begin inoculating its population.

Published 23 Feb, 2021 04:49pm

South Asia

Nine women arrested over Philippine bomb plots: military

"This is how desperate the remaining terrorists are, willing to sacrifice their families just to get back at government forces," Gonzales said.

Published 23 Feb, 2021 04:47pm

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

South Asia

Malaysian deports over 1,000 Myanmar nationals despite court order

Hours before the deportation, a Kuala Lumpur court ordered it should be temporarily halted to allow activists to present a legal challenge.

Published 23 Feb, 2021 04:45pm

Europe

'Spy for Egypt' goes on trial in Germany

Originally scheduled to start in January, the trial was postponed due to the pandemic, and a verdict is now expected in March.

Published 23 Feb, 2021 04:44pm

Europe

Coronavirus toll at 1100 GMT Tuesday

At least 111,641,390 cases of coronavirus have been registered. Of these, at least 68,552,400 are now considered recovered.

Published 23 Feb, 2021 04:42pm

Sports

Halep pulls out of Qatar Open

The Romanian's withdrawal follows her Australian Open quarter-final loss to Serena Williams.

Published 23 Feb, 2021 04:42pm

Pakistan

SHC issues contempt notices to authorities over closure of roads during PSL in Karachi

Hearing the case, Justice Muhammad Ali Mazhar said that traffic jams shouldn’t be reported in the city because of the tournament.
The court has issued contempt notices in the case to Traffic East SP Farah Umbreen and the home ministry.

Updated 23 Feb, 2021 04:33pm

Industry

Apple ousted Samsung & Xiaomi as the top-selling smartphone brand in late 2020

Apple overtook Samsung and Xiaomi to become the top-selling smartphone brand in the fourth quarter of 2020.
Apple also claimed a market share of 20.8 percent in the 4th quarter of 2020.

...

Published 23 Feb, 2021 04:22pm

Technology

Spotify to launch its services in Pakistan soon

Spotify has announced that it will be launching its services in Pakistan, Nigeria, Bangladesh, and more than 80 new markets in the next few days, in a recent tweet.

Published 23 Feb, 2021 04:22pm

Business & Finance

Bitcoin decline 17pc, witness biggest single-day drop

The world's biggest cryptocurrency suffered its biggest daily drop in a month, falling as low $45,000.

Published 23 Feb, 2021 04:03pm

Business & Finance

NEPRA directs K-Electric to improve the system

Tauseef Farooqi, Chairman, NEPRA, heard a request from KE to increase the price of electricity by Rs 1.71 per unit.

Published 23 Feb, 2021 03:07pm

USA

Wife of “El Chapo” Arrested on International Drug Trafficking Charges

The wife of Joaquin "El Chapo" Guzman Loera, the infamous leader of the Mexican Sinaloa Cartel, was arrested on Monday, on her alleged involvement in international drug trafficking.

Published 23 Feb, 2021 02:02pm

Stocks

Most Gulf markets track oil, Asian shares higher

The index's gains, however, were capped by losses at the country's largest lender First Abu Dhabi Bank.

Published 23 Feb, 2021 02:10pm

Pakistan

Pakistan calls on international community to play role to address systematic violence against women in IIOJK

The incidents of systematic violence and mass rapes in IIOJK have been documented by a number of independent Commissions, human rights organzations, global media and civil society organizations, including the UN Office of the High Commissioner for Human Rights, the FO said.

Updated 23 Feb, 2021 02:12pm

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

Business & Finance

Hammad optimistic top smartphone manufacturers to enter Pakistan soon

“Therefore I believe that in the coming years, smartphone and mobile phone manufacturing would become export commodities and an important part of the economy of Pakistan,” said Azhar.

Published 23 Feb, 2021 02:03pm

World

Malaysian court orders halt to Myanmar migrant deportation: lawyer

The Kuala Lumpur High Court said the repatriation cannot take place to allow for a hearing on Wednesday.

Published 23 Feb, 2021 02:05pm

Pakistan

Human error caused countrywide blackout on Jan 9, reveals inquiry committee report

Report states that the fault occurred as some officials did not follow SOPs during maintenance work
Last month, country plunged into darkness after the National Transmission and Despatch Company power system encountered a major breakdown due to the tripping of the Guddu Thermal Power Plant

Published 23 Feb, 2021 01:46pm

World

Afghanistan begins Covid vaccine campaign amid surge in violence

Kabul, along with urban areas across the country, have been rocked in the recent weeks by frequent explosions on an almost daily basis amid fraught peace talks between the government and the Taliban.

Published 23 Feb, 2021 01:58pm

World

UK unemployment edges up to 5.1% on pandemic fallout

The ONS on Tuesday added that at 5.1 percent, the unemployment rate was 1.3 percentage points higher compared with the final quarter of 2019.

Published 23 Feb, 2021 01:56pm

Stocks

European stock markets rebound at open

In the eurozone, Frankfurt's DAX 30 index edged up 0.1 percent to 13,962.29 points and the Paris CAC 40 added 0.3 percent to 5,785.09.

Published 23 Feb, 2021 01:55pm

Stocks

Hong Kong stocks close higher

The Hang Seng Index climbed 1.03 percent, or 312.81 points, to 30,632.64.

Published 23 Feb, 2021 01:53pm

World

G7 'firmly condemn' Myanmar military attacks on protesters

Myanmar's military leaders are facing renewed pressure at home and abroad after gradually ratcheting up their use of force against a massive and largely peaceful civil disobedience campaign against their coup.

Updated 23 Feb, 2021 01:53pm

Technology

Pakistani startups launch Chikoo platform to boost digital presence of SMEs

Chikoo, a new ecommerce tool enables businesses to start selling online, through this partnership both companies will work together to co-market and co-sell the Chikoo platform to affiliates of both companies to help them get their store online in under 3 minutes.

Published 23 Feb, 2021 01:01pm

China

Chinese spyware code was copied from America's NSA: researchers

Chinese spies used code first developed by the U.S. National Security Agency to support their hacking operations, Israeli researchers said on Monday.

Published 23 Feb, 2021 12:45pm

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

Companies

Tesla rival Lucid Motors to go public in $11.8bn blank-check merger

The deal with CCIV includes a private investment of $2.5 billion from Saudi Arabia's Public Investment Fund, funds managed by BlackRock and others.

Published 23 Feb, 2021 12:14pm

Financial

South Korea central bank chief says will review govt bond purchases to stabilize market

Lee, however, said it isn't appropriate for the Bank of Korea to directly acquire treasury bonds from the government, suggesting any bond buying will be made in the secondary market.

Published 23 Feb, 2021 12:11pm

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

Commodities

Copper extends rally on tight supply, strong demand outlook

Three-month copper on the London Metal Exchange rose 1.3% to $9,214 a tonne by 0252 GMT, having hit a 9-1/2-year high of $9,269.50 a tonne in the previous session.

Published 23 Feb, 2021 12:06pm

Business & Finance

Anticipating uptick in construction, Pakistan's cement manufacturer plans expansion

The company seeks to take advantage of the recent government-announced construction package, which aims to uplift the economic activity and aid the economy to recover during Covid-19.

Published 23 Feb, 2021 12:02pm

Business & Finance

Bitcoin falls as much as 6% as it pulls back from record high

Ether, the coin linked to the ethereum blockchain, also dropped more than 5% and last bought $1,707, down almost 17% from last week's record peak.

Published 23 Feb, 2021 12:04pm

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

Pakistan

PML-N's Pervez Rashid declared ineligible for Senate elections

PML-N leader had challenged the Election Commission of Pakistan's (ECP) decision to reject his nomination papers for the upcoming Senate election
PTI MPA Zainab Omar had filed an objection against Rashid through her lawyer to the returning officer

Published 23 Feb, 2021 12:04pm

Commodities

Wheat eases after rally; near 3-week high on cold weather worries

Still, showers on Argentina's Pampas grains belt in recent weeks have helped make up for the dryness that parched soybean and corn crops from the middle of last year, weather experts said on Monday.

Published 23 Feb, 2021 12:01pm

Commodities

Philippines says 2020 nickel output up 3%, warns outlook uncertain

Quarantine restrictions had prompted mining companies to reduce working hours and manpower, it said.

Published 23 Feb, 2021 11:59am

Forex

China's yuan firms as dollar dips ahead of Powell testimony

"If the exchange rate remains strong...this will continue to suppress exports and increase upward pressure on domestic asset prices.

Published 23 Feb, 2021 11:57am

Stocks

Reliance lifts Indian shares after five sessions of falls

The Nifty private sector banks index, which had fallen in the last five sessions, rose as much as 0.8%, led by a 1.2% climb in ICICI Bank.

Published 23 Feb, 2021 11:54am

Stocks

Asian stocks edge higher, led by rally in commodities

Cash Treasuries were not traded in Asia with Tokyo shut for holidays, but futures firmed slightly and showed an implied ten-year Treasury yield of 1.34%.

Published 23 Feb, 2021 11:51am

Commodities

China iron ore futures retreat as Tangshan city sounds pollution alert

"The strong pick-up in steel demand in 2021 amidst a robust and broad economic recovery will impede prices from crashing and will help them average at elevated levels this year," according to Fitch Solutions.

Published 23 Feb, 2021 11:49am

Stocks

Financials lift China stocks, but policy tightening worries persist

Market reaction to latest headlines on Sino-US relations was quite muted.

Published 23 Feb, 2021 11:46am

World

Oman bans entry from 10 countries to curb coronavirus spread

The countries are: Sudan, Lebanon, South Africa, Brazil, Nigeria, Tanzania, Ghana, Guinea, Sierra Leone, Ethiopia. The decision is effective from Thursday.

Published 23 Feb, 2021 11:41am

World

First doses of Russia's Sputnik vaccine arrive in Mexico

The delivery of the 200,000 doses of the vaccine come after a recent conversation between Mexican President Andres Manuel Lopez Obrador.

Published 23 Feb, 2021 11:39am

Energy

Oil prices jump more than $1 as US output struggles to fully restart

"It is hard not to be bullish with oil prices now that the deep freeze disruption practically guarantees the summer pickup in crude demand will erase whatever supply glut is left," said Edward Moya, senior market analyst at OANDA in New York.

Published 23 Feb, 2021 11:37am

World

China's Clover raises $230mn, plans vaccines for COVID-19 variants

The latest round of fund-raising, co-led by Temasek and GL Ventures, an affiliate of Asia-focused private equity Hillhouse Capital, brings Clover's total capital raised in the last 12 months to more than $400 million.

Published 23 Feb, 2021 11:34am

Business & Finance

Singapore's Jan headline inflation turns positive after nearly a year

The core inflation measure of the Monetary Authority of Singapore also picked up slightly, but was still down 0.2%, matching economists forecasts.

Published 23 Feb, 2021 11:32am

World

Germany's confirmed coronavirus cases rise by 3,883

The reported death toll rose by 415 to 68,318, the tally showed.

Published 23 Feb, 2021 11:30am

Bullion Rate

South Africa's Harmony Gold posts 211% jump in half-year profit

Headline earnings per share for the six months ended December 2020 rose by 211% to 775 cents per share compared with 249 cents a year earlier.

Published 23 Feb, 2021 11:28am

Sports

Bangladesh to amend contracts after Shakib skips tests for IPL

Hassan said that while the BCB was disappointed it did not want to force anyone to play.

Published 23 Feb, 2021 11:25am

Companies

Huawei delivers 'slight' growth in challenging 2020, chairman says

Ren said the company saw positive growth and net profit in 2020.

Published 23 Feb, 2021 11:22am

Stocks

Indian shares snap five-day losing streak, Reliance gains

Analysts said the rally in commodity prices was supporting risk appetite.

Published 23 Feb, 2021 11:21am

World

Pfizer to ship 13mn COVID-19 vaccine doses per week to US by mid-March, says executive

The remarks put the United States on track to receive 240 million doses by the end of March, enough to inoculate 130 million Americans, and 700 million doses by mid-year.

Published 23 Feb, 2021 11:18am

Forex

Canadian dollar notches near 3-year high as commodities rally

Bank of Canada Governor Tiff Macklem is due to speak on Tuesday on the impact of the coronavirus crisis on the labor market.

Published 23 Feb, 2021 11:14am

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

Pakistan

Pakistan police pop their rollerblades on to catch Karachi's criminals

“We felt we needed to come up with an innovative approach to control street crime,” said Farrukh Ali, chief of the unit.

Updated 23 Feb, 2021 11:16am

Forex

Dollar hits six-week low as focus turns to Powell

"The broad dollar retains a heavy tone, expect the dollar index to continue testing the 90.00 support," said OCBC Bank strategist Terence Wu.

Published 23 Feb, 2021 11:12am

Forex

Australia, NZ dollars hover near multi-year highs amid commodity boom

Three-year futures were 2 ticks higher to 99.7550, and 10-year bond futures were 4 ticks higher 98.4350.

Published 23 Feb, 2021 11:09am

Energy

US oil may rise into $63.44-$64.15 range

On the daily chart, oil is rising towards the Jan. 8, 2020 high of $65.65.

Published 23 Feb, 2021 11:07am

Business & Finance

5,340 MW of electricity added to grid under CPEC power projects

Out of a total of 22 projects, another eight are near completion and would pump in an additional 4,470 MW of electricity to the national grid.

Published 23 Feb, 2021 11:06am

Commodities

Palm oil may retest support at 3,465 ringgit

On the daily chart, the contract closed below a resistance at 3,581 ringgit. It is still likely to drop to 3,411 ringgit.

Published 23 Feb, 2021 11:04am

Energy

Brent oil may extend gains into $66.45-$66.97 range

Based on the drop from $65.52, oil may rise to $69. Support is at $65.15, a break below which could cause a fall to $64.65.

Published 23 Feb, 2021 11:01am

Bullion Rate

Spot gold to rise to $1,840

On the daily chart, gold has cleared a resistance at $1,805.

Published 23 Feb, 2021 10:59am

Bullion Rate

Gold scales 1-week peak as dollar falters, yields ease

The European Central Bank on Monday signalled that policymakers are becoming uncomfortable with the recent surge in government bond yields.

Published 23 Feb, 2021 10:56am

Stocks

Australia shares trade flat as tech slide offsets commodity gains

Newcrest Mining and AngloGold Ashanti led gains among gold miners, which climbed 5.6%, as worries over rising inflation and a weaker US dollar pushed the metal higher.

Published 23 Feb, 2021 10:55am

Stocks

Australia shares set to track Wall Street lower as US Treasury yields firm

The local share price index futures fell 0.2%, a 80.9-point discount to the underlying S&P/ASX 200 index close.

Published 23 Feb, 2021 10:53am

World

What you need to know about the coronavirus right now

WHO backs compensation fund for serious vaccine side-effects.

Published 23 Feb, 2021 10:51am

Business & Finance

Thai Jan exports rise 0.35% y/y, weaker than forecast

Demand from key markets was mostly higher in January, with exports to the United States up 12.4% year-on-year, to China up 9.9% and to Japan up 7.4%.

Published 23 Feb, 2021 10:45am

World

Nearly 5,000 indigenous Colombians trapped by fighting

Choco is home to nearly 90 percent of Colombia's indigenous and black population, and is the country's poorest department, according to the national statistics department.

Published 23 Feb, 2021 10:39am

World

Portugal aims for 70 percent vaccination rate in summer

After weeks as the country with the greatest number of infections in relation to its population, Portugal recorded the strongest decline last week with a 51-percent drop in new cases to 2,100 per day.

Published 23 Feb, 2021 10:38am

Currency	Rate
USD PKR Interbank Selling / Jun 24	278.40
USD PKR Interbank Buying / Jun 24	278.20
USD to Japanese Yen / Jun 25	161.83
USD to Swiss Franc / Jun 25	0.81
Pound Sterling to USD / Jun 25	1.32
Euro to USD / Jun 25	1.14
SOFR % / Jun 24	3.62

Stock	Volume
S&P 500 / Jun 24	7,358.22
Nasdaq / Jun 24	25,476.63
Dow Jones / Jun 24	51,848.90
India Sensex / Jun 25	77,542.57
Tokyo Nikkei / Jun 25	72,326.48
Hang Seng / Jun 25	23,036.20
FTSE 100 / Jun 25	10,470.52
Germany DAX 30 / Jun 25	24,834.21
France CAC40 / Jun 25	8,395.16

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 24	18,280
Gold 10 Grams PKR / Jun 24	368,985
Crude Oil USD/Barrel / Jun 25	69.47
Gold Spot USD/Ounce / Jun 25	3,981.05
Cotton US¢/pound / Jun 25	76.52
Petrol/Litre / Jun 26	299.50
Diesel/Litre / Jun 26	311.47

Stock	Price
Ghani Chemworld Limited (R) / Jun 24 Ghani Chemworld Limited Right(GCWLR)	8.01 ▲ 1 (14.27%)
Gulistan Sp. / Jun 24 Gulistan Spinning Mills Limited(GUSM)	10.01 ▲ 0.94 (10.36%)
Ali Asghar / Jun 24 Ali Asghar Textile Mills Limited(AATM)	57.61 ▲ 5.24 (10.01%)
Al-Shaheer Corp / Jun 24 Al Shaheer Corporation Limited(ASC)	12.20 ▲ 1.11 (10.01%)
Feroze 1888 / Jun 24 Feroze1888 Mills Limited(FML)	57.48 ▲ 5.23 (10.01%)
J.A.Textile / Jun 24 J.A. Textile Mills Limited(JATM)	33.52 ▲ 3.05 (10.01%)
Sardar Chemical / Jun 24 Sardar Chemical Industries Limited(SARC)	77.07 ▲ 7.01 (10.01%)
Buxly Paints / Jun 24 Buxly Paints Limited(BUXL)	251.72 ▲ 22.88 (10%)
Chashma / Jun 24 Chashma Sugar Mills Limited(CHAS)	101.19 ▲ 9.2 (10%)
Fateh Sports / Jun 24 Fateh Sports Wear Limited(FSWL)	111.29 ▲ 10.12 (10%)

Stock	Price
First Fid. Leasing / Jun 24 First Fidelity Leasing Modaraba(FFLM)	22.28 ▼ -2.47 (-9.98%)
Int. Knit. / Jun 24 International Knitwear Limited(INKL)	100.26 ▼ -11.12 (-9.98%)
Aruj Industries / Jun 24 Aruj Industries Limited(ARUJ)	10.80 ▼ -1.14 (-9.55%)
NIT PakistanXD / Jun 24 NIT Pakistan Gateway ETF(NITGETF)	37.25 ▼ -3.75 (-9.15%)
Aisha Steel(ConPS) / Jun 24 Aisha Steel(ConPS)(ASLPS)	23.52 ▼ -2.32 (-8.98%)
Pakgen Power / Jun 24 Pakgen Power Limited(PKGP)	43.13 ▼ -3.72 (-7.94%)
First AL-Noor Mod. / Jun 24 First Al-Noor Modaraba(FANM)	7.06 ▼ -0.51 (-6.74%)
Zuma Resources / Jun 24 Zuma Resources Limited(ZUMA)	104.71 ▼ -7.26 (-6.48%)
Popular Islamic / Jun 24 Popular Islamic Modaraba(PIM)	22.28 ▼ -1.26 (-5.35%)
TPL Insurance / Jun 24 TPL Insurance Limited(TPLI)	25.60 ▼ -1.44 (-5.33%)

Stock	Volume
K-Electric Ltd. / Jun 24 K-Electric Limited(KEL)	112,892,122 ▲ 0.33
Pak Int.Bulk / Jun 24 Pakistan International Bulk Terminal(PIBTL)	73,295,107 ▲ 0.94
WorldCall Telecom / Jun 24 Worldcall Telecom Limited(WTL)	38,761,163 ▲ 0.01
Pak Elektron / Jun 24 Pak Elektron Limited(PAEL)	31,348,609 ▲ 1.02
Maple Leaf Cement / Jun 24 Maple Leaf Cement Factory Limited(MLCF)	27,194,838 ▲ 3.85
PIA Holding Co.Ltd / Jun 24 PIA Holding Company Limited(PIAHCLA)	21,872,379 ▲ 1.92
Kohinoor Spinning / Jun 24 Kohinoor Spinning Mills Limited(KOSM)	20,610,130 ▲ 0.11
Sui South Gas / Jun 24 Sui Southern Gas Company Limited(SSGC)	20,069,542 ▼ -0.9
The Organic Meat / Jun 24 The Organic Meat Company Limited(TOMCL)	20,043,142 ▲ 2.92
B.O.Punjab / Jun 24 The Bank of Punjab(BOP)	18,657,800 ▲ 0.26