News Archives for Latest - 2021-02-24

Forex

Canadian dollar notches 3-year high as oil climbs

Canadian dollar up 0.1% against the greenback.
Loonie touches its strongest level since April 2018 at 1.2551.
Price of US oil increases 1.3%.
Canadian bond yields rise across a steeper curve.

Published 24 Feb, 2021 09:54pm

Stocks

Material stocks drag TSX lower

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures fell 0.3% to $1,799 an ounce.
Toronto Stock Exchange's S&P/TSX composite index was down 77.04 points, or 0.42%, at 18,253.05.

Published 24 Feb, 2021 09:48pm

Commodities

Arabica coffee slips from more than one-year peak

May arabica coffee fell by 0.3 cent, or 0.2%, to $1.38 per lb.
May raw sugar rose by 0.14 cent, or 0.8%, to 17.15 cents per lb, climbing towards a nearly four-year peak of 17.52 cents set on Tuesday.
May New York cocoa was up $32, or 1.3%, at $2,531 a tonne.

Published 24 Feb, 2021 09:46pm

Commodities

Gold drops over 1pc as US Treasury yields, dollar rise

US 10-year yields hit one-year high.
Palladium, platinum up more than 1%.

Published 24 Feb, 2021 09:44pm

South Asia

Philippines' Duterte says still undecided on future of US troop deal

Duterte has said the United States should pay more if it wants to maintain the VFA, which he unilaterally cancelled last year in an angry response to an ally being denied a US visa.
"I have not yet decided on what to do, to abrogate or renew," Duterte said in a late-night televised address on Wednesday. "I want to hear the people. I want narratives to come."

Published 24 Feb, 2021 09:42pm

Companies

Lufthansa rejects Condor allegations of market position abuse

Lufthansa was granted a 9 billion euro ($10 billion) government bailout that came with conditions to preserve competition including the transfer to rivals of some take-off and landing slots at German airports.
Earlier this month, Condor asked the European Court of Justice to stop Lufthansa from cancelling the agreement.

Published 24 Feb, 2021 09:41pm

Energy

Oil rises despite surprise US stock build weighs

US crude stocks rise 1 mln bbls –API.
Market eyes EIA inventory data due later in the day.
Houston ship channel slowly returning to normal traffic.

Published 24 Feb, 2021 09:39pm

Companies

Gazprom joint venture secures up to $948mn loan for Russia's Semakovsky field

The 15-year syndicated loan "allows to fully finance the initial and the most important stage" of the field's development in order to launch it as planned, RusGazDobycha said in a separate statement.
Russian state development bank VEB pledged in August financial backing for the LNG project.

Published 24 Feb, 2021 09:28pm

Europe

We need to talk about trade with China, UK parliament tells PM Johnson

The rights and wrongs of trading with China, the world's second-largest economy, have become a burning question for governments around the world.
Britain has denounced the torture, forced labour and sterilisations that it says are taking place against Muslim Uighurs on an "industrial scale".

Published 24 Feb, 2021 09:36pm

USA

Johnson & Johnson's one-dose vaccine closes in on US approval

J&J also said the data suggested its vaccine cut down on asymptomatic infections, which experts said was another sign COVID-19 vaccines may indeed stop transmission of the disease.
That you could still get protection against medically attended illnesses - meaning hospitalization, ICU admission and deaths from that vaccine against the South African strain, I thought that was really encouraging.

Published 24 Feb, 2021 09:33pm

South Asia

India warns of worsening COVID-19 situation, vaccinations to expand

Reluctance grows over masks and social distancing.
India's 11 million infections are world's second worst.
States told to stick to stringent measures.
More vaccinations available from March 1.

Published 24 Feb, 2021 09:31pm

Commodities

US corn, soy rise as Brazil rains drive farmers from fields

"Wheat being beaten down yesterday did not make too much sense," said Terry Reilly, senior analyst with Futures International in Chicago.
CBOT May soybeans were 7-1/4 cents higher at $14.15-3/4 a bushel and CBOT May corn was 2-1/4 cents higher at $5.54-3/4 a bushel.

Published 24 Feb, 2021 09:27pm

Money & Banking

Aviva pushes back bid deadline for Polish unit over Santander contract

Germany's Allianz is also in the race after missing out on Aviva's French business, which was snapped up by mutual insurer Aema Groupe for 3.2 billion euros on Tuesday, the sources said.
Aviva, which initially requested binding offers by Feb. 26, needs more time to renegotiate a bancassurance partnership in Poland with Santander, the sources said.

Published 24 Feb, 2021 09:25pm

Energy

US crude output, refining use slump on Texas storms: EIA

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.8 million barrels, and net US crude imports rose by 249,000 bpd, the EIA said.
US gasoline stocks rose by 12,000 barrels to 257.1 million barrels, compared with expectations for a 3.1 million-barrel drop.?

Published 24 Feb, 2021 09:23pm

Europe

BoE Governor Bailey speaks to lawmakers

"It would be very controversial in my view because legislating extra-territorially is controversial anyway and obviously of dubious legality, frankly."
"It will certainly contribute to global growth because the US is obviously such a sizeable part of the global story. So there will be a spillover, a positive spillover, from that."

Published 24 Feb, 2021 09:21pm

World

IMF chief warns pandemic leaving some countries behind

She said that should include financing for vaccinations, reallocation of excess supply to countries with a shortage, and scaling up of production.

Published 24 Feb, 2021 09:22pm

Europe

Putin accuses West of wanting to 'shackle' Russia

Putin said the West is "trying to shackle us with economic and other sanctions".

Published 24 Feb, 2021 09:21pm

Stocks

Nasdaq declines as tech sell-off resumes; cyclical stocks rise

Growth stocks fall for seventh straight day.
Financial sector hits record high.
Tesla up as Ark Invest buys $171 mln more shares.
Dow up 0.35%, S&P up 0.07%, Nasdaq down 0.61%.

Published 24 Feb, 2021 09:19pm

USA

Biden to review key supply chains after semiconductor crunch

"While we cannot predict what crisis will hit us, we should have the capacity to respond quickly in the face of challenges," the White House said.

Published 24 Feb, 2021 09:02pm

Europe

Polish lake district to see COVID curbs return after cases spike

The sparsely-populated Warminsko-Mazurskie region's soaring number of cases has left specialists searching for explanations.
The region's infection rates per 100,000 people are more than double the national average. Poland's total cases stand at 1,661,109 with 42,808 deaths.

Published 24 Feb, 2021 09:12pm

USA

Biden CIA nominee Burns calls China an ‘authoritarian adversary’

"Out-competing China will be key to our national security in the days ahead," Burns said at his confirmation hearing.
He called China "a formidable, authoritarian adversary," that is strengthening its ability to steal intellectual property, repress its people, expand its reach and build influence within the United States.

Published 24 Feb, 2021 09:11pm

Financial

Traders push yields higher as inflation concerns linger

The benchmark 10-year yield was up 4.1 basis points at 1.4046% in morning trading, its first time above 1.4% since a year ago, and reached as high as 1.435%
Patrick Leary, chief market strategist and senior trader at Incapital, said the trading could also be a sign of investor skepticism about Powell's reassurance.

Published 24 Feb, 2021 09:09pm

Companies

Apple supplier Foxconn teams up with Fisker to make electric vehicles

The deal, codenamed "Project PEAR" (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.
Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, Chairman Liu Young-way said in October.

Updated 24 Feb, 2021 09:10pm

Energy

Russia's Far East ESPO Blend oil exports to rise 11.6pc

On a daily basis, ESPO Blend second-quarter oil loadings from Kozmino will rise by 11.6% from the January-March quarter, Reuters calculations showed.
OPEC+ could ease curbs on oil supply from April thanks to a recovery in prices. The producer group is due to hold a meeting on March 4.

Updated 24 Feb, 2021 09:07pm

World

Johnson & Johnson vaccine highly effective against severe Covid

In large clinical trials, the J&J vaccine's efficacy against severe disease was 85.9 percent in the United States, 81.7 percent in South Africa, and 87.6 percent in Brazil.

Published 24 Feb, 2021 08:53pm

Europe

Ukraine kicks off vaccine drive after delays spark ire

Ukraine received 500,000 doses of the AstraZeneca/Oxford vaccine on Tuesday, marketed under the name Covishield and produced at the Serum Institute in India.

Published 24 Feb, 2021 08:51pm

Stocks

Global stocks soften on concerns of higher inflation

In New York, the Dow Jones index was 0.2 percent lower in early trading as well, and Asian markets closed with losses earlier in the day.

Published 24 Feb, 2021 08:49pm

Africa

First vaccines delivered under global Covax scheme

The WHO is one of several organisations behind Covax, which aims to deliver at least two billion doses globally by the end of the year.

Updated 24 Feb, 2021 08:50pm

Stocks

US stocks drop amid inflation fears, vaccine progress

About 35 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent to 31,483.11.

Published 24 Feb, 2021 08:38pm

Commodities

Jordan tenders to buy 120,000 tonnes feed barley

Shipment is sought in a series of possible combinations in 60,000-tonne consignments.
Possible shipment combinations are between Sept. 1-15, Sept. 16-30, Oct. 1-15 and Oct 16-31.

Published 24 Feb, 2021 08:24pm

Europe

British confident of vaccine supply from manufacturers

Vaccine minister upbeat about hitting targets..
PM Johnson aims to inoculate all adults by end July.
Oxford vaccinologist: need to be ready for autumn campaign.

Published 24 Feb, 2021 08:22pm

USA

Mexican inflation quickens less than expected in early February

Mexican annual inflation ticked up to 3.84% from a rate of 3.74% in the second half of January, but undershot the consensus forecast of a Reuters poll for a reading of 3.88%.
A breakdown of the data published by the agency known as INEGI showed that fuels and certain fruits and vegetables helped to push up prices in early February.

Published 24 Feb, 2021 08:20pm

Pakistan

Gold prices decrease Rs50 to 110,650

The price of per tola silver increased by Rs10.

Published 24 Feb, 2021 08:20pm

Europe

EU Commission proposes lower wholesale roaming price caps

Wholesale price caps have pitted telecoms providers in southern European countries with those in northern Europe over who should benefit from tourists making calls home.
The EU executive said it wants wholesale caps to be reduced from July 1 next year and a second cut effective from Jan. 1, 2025. The caps were substantially reduced in 2017.

Published 24 Feb, 2021 08:18pm

Pakistan

NA body recommends all projects of M/o IT for FY 2021-22

The committee was briefed about the establishment of Information Technology Park in Islamabad, Karachi and software technology parks in other of the country.

Published 24 Feb, 2021 08:20pm

South Asia

Thai ministers jailed as court finds 26 guilty of insurrection

The court found 26 of 39 defendants guilty, a lawyer for the group said, for actions that included obstructing elections and invading government property, which took place during seven months of demonstrations against the government of Yingluck Shinawatra.
"They pleaded not guilty to all the charges and will appeal," said Sawat Charoenpon, a lawyer representing the People's Democratic Reform Committee (PDRC), as the group is known.

Published 24 Feb, 2021 08:16pm

Pakistan

Reference against Dar adjourned till Mar 10

AC-I Judge Muhammad Bashir adjourned the case without proceeding due to lawyers' strike.

Published 24 Feb, 2021 08:17pm

Pakistan

President for removing disparity among different streams of education, ensuring implementation of SNC

The meeting was apprised that the SNC was designed in three phases which would be implemented in all streams of education.

Published 24 Feb, 2021 08:16pm

Commodities

Salzgitter says steel demand, sentiment, has improved markedly

"Sentiment has improved considerably," Heinz Joerg Fuhrmann, who will step down at the end of June after 10 years at the helm, told journalists late on Tuesday. "Demand has stabilised significantly."
Salzgitter, which competes with larger peer Thyssenkrupp in Germany, recently raised its outlook for 2021 and expects pre-tax profit of 150 million to 200 million euros ($182-$243 million).

Published 24 Feb, 2021 08:15pm

Pakistan

NEPRA reduces tariff of nuclear power plants

The NEPRA Authority under the prevailing rules and regulations has accordingly admitted the same and conducted a hearing on January 13, 2021.

Published 24 Feb, 2021 08:15pm

Sports

Spanish clubs' grip on Europe slides further with three home defeats

Atletico have been the best side in Spain all season but against a Chelsea side still learning the ropes under Thomas Tuchel, they were utterly toothless and failed to have a shot on target.
"This is a big reflection how poor La Liga is at the moment," said 2008 Champions League winner Rio Ferdinand on BT Sport.

Published 24 Feb, 2021 08:13pm

Pakistan

Political party, more important than party leader in democracy; CJP

The hearing of the case was adjourned till Thursday.

Published 24 Feb, 2021 08:13pm

Europe

Norway to reassess national anti-virus measures in late March, says health minister

Norway has the second-lowest rate of new infections per 100,000 inhabitants in Europe, after Iceland, according to the European Centre for Disease Prevention and Control.
"There is a clear risk of (a rise in cases) because of the variants," Camilla Stoltenberg, the head of the Norwegian Institute Public Health, told a news conference.

Published 24 Feb, 2021 08:11pm

Pakistan

Ijaz Shah for creating awareness against drug abuse

The Minister regretted that students of college and universities were falling victim to this menace.

Published 24 Feb, 2021 08:11pm

Pakistan

FBR to publish Active Taxpayers’ List 2020 on March 1st

Persons who have filed income tax returns after the due date or extended dates have to pay a surcharge for inclusion in ATL.

Published 24 Feb, 2021 08:11pm

Stocks

India's largest stock exchange reopens after telecoms glitch

The country's markets regulator said it "advised the NSE to carry out a detailed root cause analysis," asking it to explain the reasons why trading did not migrate to the disaster recovery site.
"At least the resumption gave some relief, otherwise it would have been a disaster."

Published 24 Feb, 2021 08:07pm

Pakistan

KU issues registration schedule of MA, BA and BCom, exams fee submission of BA (Pass), BCom (External)

The examination forms would be available at the campus branches of NBP, UBL, Sindh bank Limited and Bank Alfalah against the payment of Rs100.

Published 24 Feb, 2021 08:09pm

Pakistan

Sindh to start second round of COVID-19 vaccination soon

A total of 55,458 health workers out of the 198,484 registered have been vaccinated so far.
Health workers who refuse to get the shot will be given show-cause notices and won’t be allowed to work in the health sector as they could potentially spread further mutations of the virus, Dr Pechuho warned.

Updated 24 Feb, 2021 08:10pm

Pakistan

Pakistani businessmen appreciate PM's productive engagement with Sri Lankan govt, entrepreneurs

Pakistani businessmen appreciate PM's productive engagement with Sri Lankan govt, entrepreneurs.

Published 24 Feb, 2021 08:09pm

Technology

Facebook to invest $1bn in news industry after Australia row

The social network's commitment to the news industry follows Google's $1 billion investment last year, as technology giants come under scrutiny over their business model as well as the proliferation of misinformation on their platform.
In a blog detailing its version of the showdown, Facebook said the news ban was related to a "fundamental misunderstanding" of the relationship between the company and news publishers.

Published 24 Feb, 2021 08:06pm

Pakistan

India stockpiling weapons to target Pakistan: AJK President.

He believed that Pakistanis should stop showing helplessness, and give a clear message of punishing India for its heinous crimes in Kashmir.

Published 24 Feb, 2021 08:06pm

Pakistan

Naseem satisfied over implementation of Letters of Administration, Succession Certificates, Act 2020

The Law Minister hailed the progress made so far and told the participants, further improvements in the system were expected in a couple of weeks.

Published 24 Feb, 2021 08:05pm

Stocks

Wall Street set to open higher as tech sell-off cools

Growth stocks find respite after six-day sell off.
Tesla up as Ark Invest buys $171 mln more shares.
Lowe's rises on beating estimates for Q4 same-store sales.
Futures up: Dow 0.06%, S&P 0.23%, Nasdaq 0.35%.

Published 24 Feb, 2021 08:04pm

Pakistan

Court adjourns hearing on toshakhana case against Zardari

The court also instructed all the accused to ensure their attendances on March 11.

Published 24 Feb, 2021 08:04pm

USA

Brazil current account deficit 0.65pc of GDP, smallest in 13 years

The current account deficit of 0.65% of gross domestic product in the 12 months to January was down from 0.87% the previous month and the smallest since February, 2008, central bank figures showed.
Brazil's current account deficit in the month of January was $7.25 billion, the second deficit in a row and slightly less than the $7.75 billion shortfall forecast in a Reuters poll of economists.

Published 24 Feb, 2021 08:02pm

Pakistan

India intensifies war of repressions in turbulent IIOJK on Modi's visit to disputed held State: AJK PM

Underage children are being sent to jail and the culture of the Kashmiri people is being snatched, he added.

Published 24 Feb, 2021 08:03pm

Industry

EasyJet to raise up to 1.2bn euros from bond deal

The positive response from bond investors comes after British Prime Minister Boris Johnson set out a phased plan on Monday to end England's COVID-19 lockdown.
Encouraged by positive news about travel in its biggest market Britain, easyJet moved to appoint BNP Paribas, Morgan Stanley and Santander as joint bookrunners on Tuesday to run a bond sale.

Published 24 Feb, 2021 08:00pm

Pakistan

Steps afoot to enhance foreign investments in country: Moeed

He said that as a government employee, it was the responsibility to ensure implementation of policies of government as per vision.

Published 24 Feb, 2021 08:01pm

Pakistan

LCCI urges PTA to ensure quality service of cellular companies

The PTA Director assured the LCCI office-bearers that PTA will play its role as regulator and ensure quality services for the customers of cellular companies.

Published 24 Feb, 2021 08:00pm

Companies

Outlook for airlines deteriorating in 2021: IATA

IATA raised its forecast for total airline cash burn for 2021 to between $75 billion and $95 billion, up from the $48 billion it had forecast in December.
Britain's Heathrow Airport said on Wednesday it had plunged to a 2 billion pound loss in 2020 and that digital health checks were now vital to building any kind of recovery in international travel.

Published 24 Feb, 2021 07:58pm

China

Canada's parliament declares China's treatment of Uighurs as 'genocide'

Canada's House of Commons has overwhelmingly voted to declare China's treatment of its Uighur minority community as a genocide.
The motion, passed with a unanimous majority (266 in favour to 0 against), was supported by all opposition parties and the governing Liberal Party.

Updated 24 Feb, 2021 08:01pm

Pakistan

AJK President for benefiting from international awakening on Kashmir

The AJK President said that India was committing serious war crimes in held Kashmir and she was involved in genocide of the Kashmiris.

Published 24 Feb, 2021 07:57pm

Pakistan

RDA realization of vision of PM: Governor SBP

Deputy Governor SBP said that account opening process for overseas Pakistanis had been completely revolutionized.

Published 24 Feb, 2021 07:51pm

Financial

Germany's profit from public debt may reach 600 million euros by 2029: document

The calculations are likely to fuel a debate in Germany about when Berlin should end massive deficit-spending triggered by the COVID-19 pandemic, and return to the fiscal rules of a debt brake that parliament suspended for 2020 and 2021.
Deputy Finance Minister Bettina Hagedorn said the calculations were only estimates and fraught with uncertainty due to the long time period.

Published 24 Feb, 2021 07:56pm

Companies

Cheniere expects gradual rise in LNG demand with COVID-19 vaccine rollout

A slow return towards normal is expected to occur in the coming months, depending on the speed of vaccine rollout within regions, and the speed and shape of economic recovery across the LNG importing nations.
The number of LNG cargoes for which customers notified that they would not take delivery has reduced from this summer, Cheniere said.

Published 24 Feb, 2021 07:53pm

Europe

Swiss confirm cautious easing of COVID-19 curbs from March 1

With this cautious reopening, the (cabinet) is aiming to achieve a gradual normalisation of social and economic life, even though the epidemiological situation remains precarious because new, more infectious variants of the virus are circulating.
Competitions and concerts for young people would be permitted again, albeit without spectators, the government said.

Published 24 Feb, 2021 07:52pm

Forex

South African rand scales 1-year high after budget; Brazil's real jumps 1pc

S.African budget deficit revised down.
Brazil's real up 1%; inflation data raises rate hike case.
Eletrobras jumps 6% after privatization plan unveiled.
Ecopetrol posts 87.3% drop in annual profit.

Published 24 Feb, 2021 07:49pm

Pakistan

Education system must focus on developing character, promoting creative thinking: President

It was said that SNC has been developed in accordance with the International standards to meet the educational requirements of the country.

Published 24 Feb, 2021 07:50pm

Europe

Portugal to share COVID-19 shots with its former colonies in Africa, E.Timor

The group of countries is comprised of Portugal's former African colonies of Angola, Mozambique, Cape Verde, Guinea Bissau, Equatorial Guinea, and Sao Tome and Principe.
African nations are struggling to obtain vaccines for their combined 1.3 billion people, and only some of the continent's nations have begun administering doses.

Published 24 Feb, 2021 07:47pm

Pakistan

Gillani, Shehbaz discuss upcoming Senate elections

Gillani inquired about the health of Shehbaz Sharif and consulted over the upcoming Senate election.
The meeting took place in courtroom number 5.

Updated 24 Feb, 2021 07:51pm

Pakistan

World needs political will in face of climate threats: Munir Akram

He said we should work together to identify actions which can help us address climate change, protect biodiversity and reduce pollution, at the same time.

Published 24 Feb, 2021 07:49pm

Pakistan

PDM is other name of political hypocrisy: Shibli

He said Prime Minister Imran Khan will continue his struggle for truth.

Published 24 Feb, 2021 07:49pm

Pakistan

36 to contest Senate polls for Balochistan seats

The Election Commission of Pakistan has set February 25 as the last date for withdrawal of nomination papers.

Updated 24 Feb, 2021 07:49pm

Companies

Frankfurt prosecutor looking into BaFin handling of Wirecard

Prosecutors and federal police visited BaFin's headquarters on Wednesday to hand over a letter requesting information, the spokesman said.
"We have received several letters from concerned citizens asking for charges against unnamed people from the BaFin," he said.

Published 24 Feb, 2021 07:40pm

Sports

Rizwan and Fawad promoted to Category A and C, respectively

This is a reward for their hard work and high-quality performances during the difficult and challenging bio-secure environments that tested their determination, resolve, commitment, mental toughness and physical fitness to the limits.
Fawad Alam scored centuries against New Zealand and South Africa, and has now aggregated 320 runs in 11 innings of six Tests.

Published 24 Feb, 2021 07:39pm

Companies

Workhorse requests more information from USPS on award decision

Workhorse intends to explore all avenues that are available to non-awarded finalists in a government bidding process.
The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of the vehicles over 10 years that will be a mix of combustion-powered and electric vehicles.

Published 24 Feb, 2021 07:37pm

Business & Finance

Pakistan can play its role in diffusing US-China tensions: PM

On the Kashmir issue, PM Khan said that the Kashmir issue could be resolved only through dialogue.
PM Khan urged the business community of Sri Lanka to participate in the China Pakistan Economic Corridor (CPEC) project, which is a part of China’s Belt and Road Initiative (BRI).

Updated 24 Feb, 2021 07:38pm

Companies

Bitcoin collector MicroStrategy fills its wallet with another $1 billion

The company, whose Chief Executive Officer Michael Saylor is one of the most vocal proponents of bitcoin, bought the cryptocurrency in cash at an average price of about $52,765 each.
MicroStrategy, the world's largest publicly traded business intelligence company, spent last year steadily amassing bitcoin after making its first investment in August.

Published 24 Feb, 2021 07:34pm

USA

Johnson & Johnson's one-shot COVID-19 vaccine effective and safe

J&J said in documents submitted to the FDA that its data suggested its vaccine was effective at preventing asymptomatic infections.
J&J's vaccine was 66% effective in preventing COVID-19 against multiple variants in a global trial involving nearly 44,000 people, the company said last month.

Published 24 Feb, 2021 07:32pm

World

FDA Analysis of Johnson & Johnson COVID-19 Vaccine Finds It Safe, Effective

The FDA review noted that an international study of about 40,000 people, half of whom got the vaccine and half of whom got a placebo, found the company's vaccine to be 66% effective overall in preventing moderate to severe COVID-19 disease.
The agency also said the vaccine has a "favorable safety profile" and that there were "no specific safety concerns identified that would preclude issuance of an EUA.

Published 24 Feb, 2021 07:29pm

Money & Banking

Greece's NBG management backs sale of insurance arm to CVC

"Discussions with CVC have been concluded. The bank's management and board agree that the sale of the insurance arm to CVC should proceed," the banker told Reuters, declining to be named.
"NBG is awaiting the stance of the HFSF on the issue. The HFSF fund will need the advice of an independent investment adviser on the sale," the banker said.

Published 24 Feb, 2021 07:30pm

Forex

Nigeria naira hits record intra-day low of 429.75 per dollar

The naira opened for trade at 409.50 on Wednesday, exchange data showed, near its weakest on record of 410.50 per dollar reached two weeks ago.
The naira has been quoted at 480 naira to the dollar on the black market since last month, against the official rate of 381 naira set in July and backed by the central bank.

Published 24 Feb, 2021 07:27pm

Companies

Geely Auto and Volvo Cars to launch powertrain venture after merger scrapped

Geely Automobiles and Volvo Cars that they would perserve with their existing separate corporate structures after "a detailed review of combination options".
The new entity, expected to become operational this year, will provide engines, transmissions systems and petrol-electric hybrid systems for use by both companies as well as other automakers.

Published 24 Feb, 2021 07:24pm

USA

IMF chief urges strong G20 action to reverse 'dangerous divergence' in global economy

She called for continued, targeted fiscal support by G20 governments to support economies, and said central banks should maintain accommodative monetary and financial policies to support flow of credit to households, and firms.

Published 24 Feb, 2021 07:23pm

Pakistan

Senate voting method will be decided by parliament: CJP

"It is the parliament that will decide whether or not the voting should be secret; we will not take over the parliament's right," says Gulzar Ahmed.
"We are not the parliament and neither can we reduce its authority," says CJP.

Published 24 Feb, 2021 07:06pm

Commodities

Ukraine imports soy for the first time in 2020/21

"Ukrainian crushers can't pay to domestic farmers as per strong exports competition," she added.
The consultancy said imports could rise to 50,000 tonnes from 23,000 tonnes a season ago.

Published 24 Feb, 2021 07:20pm

Pakistan

COVID-19 claims 50 more lives, infects 1,196 people

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

Published 24 Feb, 2021 07:21pm

Middle East

Syria's health ministry denies local report on Chinese vaccine arrival

Al Watan newspaper had reported earlier on Wednesday that vaccinations of healthcare workers would start on Thursday but it did not specify the quantity of vaccines that had arrived or the type.
All what was mentioned in some media .... about the arrival or the distribution of the coronavirus vaccine will be clarified tomorrow in detail.

Published 24 Feb, 2021 07:18pm

Pakistan

SC rejects bail pleas of Abdul Majeed, Abdul Fatah involved in illegal contracts

The court dismissed the petition over withdrawal of application.

Published 24 Feb, 2021 07:19pm

Financial

UK 30-year gilt yields on track for highest close since July 2019

Thirty-year gilt yields peaked at 1.426% .
Ten-year gilt yields were 5 basis points higher on the day at 0.77%, their highest since March 2020.

Published 24 Feb, 2021 07:18pm

Pakistan

Afridi urges youth to become voices of gagged Kashmiris

He said black laws including the UAPA were being used to suppress freedom of expression and freedom of speech.

Published 24 Feb, 2021 07:18pm

Pakistan

SC issues notice to NAB in Aijaz Jakhrani case

The court after hearing arguments issued notice to NAB and adjourned hearing of the case for one week.

Published 24 Feb, 2021 07:17pm

Energy

Russia to lift oil exports from its Western ports by 5.6pc in March vs Feb

On a daily basis loadings will rise by 5.6% in March from the current month, Reuters calculations showed.
Russian flagship Urals oil loadings from Baltic ports will rise to 4.1 million tonnes from 3.6 million tonnes in February.

Published 24 Feb, 2021 07:12pm

Pakistan

Firdous determines to promote 'digital Punjab' program

She said that employment targets would be achieved through promotion of IT education.

Published 24 Feb, 2021 07:16pm

Pakistan

FBR paying up to Rs250bn refunds to exporters every month

Ashfaq said the new system had been providing an opportunity to exporters to review and resubmit their claims after removing shortcomings.

Published 24 Feb, 2021 07:14pm

Pakistan

Cement export decreases 3.80pc in 7 months

The country exported cement worth US $163.673 million during July-January (2020-21) as against the exports of US $170.133 million during July-January (2019-20).

Published 24 Feb, 2021 07:12pm

Companies

ABB's robots to meet post pandemic demand for workforce that never gets sick

More companies in pharmaceuticals, logistics, electronics and food and beverage manufacturing want to use robots, ABB said, with investment set to increase as companies emerge from lockdowns.
Customers want to be independent of these fluctuations in future.

Published 24 Feb, 2021 07:10pm

Pakistan

Malaysia wants to further increase trade ties with Pakistan: High Commissioner

Chairman Founder Group, Mian Akram Farid said that the government was keen to promote industrialization for economic stability.

Published 24 Feb, 2021 07:11pm

Pakistan

Food exports increase 1.05pc in January

Different food commodities valuing $413.299 million exported during month of January, 2021 as against the exports of $408.991 million of same month of last year.

Published 24 Feb, 2021 07:10pm

Europe

EU bets on data to prepare for climate change impacts

As European Union countries attempt to eliminate their net greenhouse gas emissions by 2050, they will still face decades of climate-related impacts, locked in from previous years' emissions.
If we step up work on adaptation today, we can make the EU and the planet much better prepared for the unavoidable changes we will face tomorrow.

Published 24 Feb, 2021 07:08pm

Pakistan

Balochistan to receive 900,000 vaccines against corona till June: Nasir Bugti

He said that we could defeat this epidemic from the country soon.

Published 24 Feb, 2021 07:09pm

Pakistan

Forces of status quo want continuation of sale, purchase of votes, Imran Khan wants transparency: Shibli

He said that real representatives of the people could not come to the parliament through the use of money.

Published 24 Feb, 2021 07:07pm

Commodities

Jordan gets at least 3 participants in 120,000 tonne wheat tender

Participants were believed to be CHS, Cerealcom Dolj and Bulgarian trading house Buildcom, they said.
No purchase has yet been made and results are expected later on Wednesday, traders said.

Published 24 Feb, 2021 07:08pm

Pakistan

Rupee extends gains against US dollar

Buying and selling rates of dollar were recorded at Rs158.6 and Rs159.3 respectively.

Published 24 Feb, 2021 07:06pm

Europe

Germany approves COVID home tests to ease way out of lockdown

The government expects such tests will cost it up to 810 million euros ($985 million) a month for 30 million to 45 million tests.
In England, volunteers and police have handed out COVID-19 testing kits to try to halt the spread of a highly infectious variant that originated in South Africa.

Published 24 Feb, 2021 07:00pm

Pakistan

Govt ready for re-elections in 20 polling stations of Daska: Senator Faisal

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

Published 24 Feb, 2021 07:05pm

Pakistan

Vaccination drive against Covid-19 launched in Bajaur

He urged people to strictly observe prescribed precautionary measures to stop the spread of the pandemic.

Published 24 Feb, 2021 07:04pm

Companies

Suzuki Motor's 91-year-old chairman waves goodbye after decades-long career

Osamu told reporters on Wednesday he decided to retire after the company welcomed its 100th anniversary last year and the approval of its new management plan.
"I will neither run away nor hide," the patriarch said, who has repeatedly declared in the past he will be a "lifelong non-retiree".

Published 24 Feb, 2021 06:58pm

Pakistan

Right of way policy to help create Digital Pakistan: Amin ul Haque

Haque said that due to the investor’s friendly policies of the government, there was a significant presence of multinational companies operating in Technology and Telecom sector of the country.

Published 24 Feb, 2021 07:03pm

Pakistan

ECP sets up centers in Orakzai for vote registration, correction

The people of Tehsils Upper and Lower Orakzai have been advised to contact District Election Commissioner.

Published 24 Feb, 2021 07:02pm

Pakistan

Govt striving to install ITS at all motorways, highways: Murad

Murad said the system would be made functional along all the motorways and highways within next six to seven months.

Published 24 Feb, 2021 07:01pm

Pakistan

Qureshi, Gunawardena stress expansion of Pak-Sri Lanka FTA

Qureshi stressed the importance Pakistan attached to its relations with Sri Lanka in further strengthening the multifaceted cooperation.

Published 24 Feb, 2021 06:59pm

Pakistan

COVID-19 pandemic; India exploited virus to change IIOJK's demography: Shireen Mazari

"India consolidated its illegal and unilateral actions of 5th August 2019 before the world," she said.

Published 24 Feb, 2021 06:58pm

Commodities

South Korea's KOCOPIA bought about 60,000 tonnes corn

It was bought in one consignment for arrival in South Korea around May 20. Seller was believed to be trading house Viterra.
Shipment was between March 25 and April 15 if sourced from the US Gulf or April 15 and May 5 if sourced from the US Pacific Northwest coast.

Published 24 Feb, 2021 06:57pm

Pakistan

Joint communique on PM Imran Khan's Sri Lanka visit

Text of Joint Communiqué.

Published 24 Feb, 2021 06:57pm

Forex

Turkish lira extends decline after gov't defends past policies

The lira weakened as far as 7.1840 and stood at 7.17 against the US currency at 1200 GMT, compared to a close of 7.11 on Tuesday.
"Some are sure that he will be appointed energy minister but Erdogan will decide. There are also those in the party that say this is not possible," the official told Reuters.

Published 24 Feb, 2021 06:54pm

Pakistan

Citizens above 65 to get COVID vaccine jabs from March 2: Dr Nausheen

She said the people would be administered vaccine in two doses and the second dose would be given after passing two to three weeks of the first dose.

Published 24 Feb, 2021 06:55pm

Pakistan

Covid-19 vaccination drive launched in Dir Upper

He urged the people to strictly observe prescribed precautionary measures to stop the spread of the pandemic.

Published 24 Feb, 2021 06:55pm

Sports

India renames world's largest cricket stadium after PM Modi

The name change to the Narendra Modi Stadium was unveiled at the 132,000-seat venue formerly known as Sardar Patel Stadium in Ahmedabad, in the western state of Gujarat, where India are playing England in the third match of a four-game test series.
"World's largest stadium dedicated to the world's largest personality!," Priti Gandhi, a BJP spokeswoman, said in a tweet.

Published 24 Feb, 2021 06:50pm

Pakistan

PSX loses 366 points to close at 45,362 points

As many as 420 companies transacted shares in the stock market, 80 of them recorded gain and 322 sustained losses.

Published 24 Feb, 2021 06:53pm

Pakistan

Govt to turn 'Digital Punjab' dream into realty: Firdous

She said employment targets would be achieved through promotion of the IT education.

Published 24 Feb, 2021 06:52pm

Pakistan

Bangash for resolving public issues at grassroots level

He said that suggestions and grievances of public would be taken up with concerned authorities to facilitate them.

Published 24 Feb, 2021 06:51pm

Industry

Swiss industry calls for extension to short-time work scheme

The maximum period for short-time work compensation needs to be raised to 24 months," said Martin Hirzel, president of Swissmem.
Swissmem said annual orders for its members fell by 6.5% in 2020 compared with a year earlier, while sales fell 9.8%. The number of people working in the sector fell by 2% to 319,300.

Published 24 Feb, 2021 06:51pm

Pakistan

IHC asks commission to hear stance of 'bhatta' owners

The IHC chief justice said that it was a matter of executive and the court wouldn't interfere into it.

Published 24 Feb, 2021 06:50pm

Pakistan

COVID-19 claims 14 lives, infects 348 others

The Chief Minister urged people of the province to follow SOPs.

Published 24 Feb, 2021 06:48pm

Money & Banking

RBC, National Bank beat profit estimates on capital markets strength

The largest and smallest of Canada's six major lenders joined rivals Bank of Montreal and Bank of Nova Scotia , which also reported profit beats on Tuesday driven by similar factors.
Canadian banks have also largely avoided an increase in soured loans thanks to several government assistance measures.

Published 24 Feb, 2021 06:46pm

Pakistan

PM Special Assistant plants sapling to begin Spring plantation drive

He said that green and clean Pakistan is the vision of Prime Minister Imran Khan.

Published 24 Feb, 2021 06:47pm

Pakistan

Chairman SECP reaffirms commitment to facilitate Businesses

The SECP Chairman informed the participants that amendments in the Companies Act, 2017 had been laid before the Parliament.

Published 24 Feb, 2021 06:46pm

Stocks

Higher share trading tax clouds outlook for Hong Kong exchange

The announcement sent shares in Hong Kong Exchanges and Clearing (HKEX) down 11%. Its shares closed down 8.8% at HK$509, the biggest daily percentage fall in five-and-a-half years.
The city's budget deficit is expected to hit a record HK$257.6 billion ($33.2 billion) for 2020/21.

Published 24 Feb, 2021 06:44pm

Pakistan

Working group formed to devise strategy for civil-military partnership in technology field

Fawad said that his ministry wanted to benefit from the experience and discipline of the military establishment.

Published 24 Feb, 2021 06:45pm

Pakistan

LHC grants bail to Hamza Shehbaz in money laundering case

He submitted that after the completion of the investigations, the reference was filed in 2020.

Published 24 Feb, 2021 06:44pm

Companies

Fisker to collaborate with Foxconn on electric vehicle project, shares jump

As part of the deal, codenamed "Project PEAR" (Personal Electric Automotive Revolution), Foxconn will manufacture the vehicles at projected annual volumes of more than 250,000.
It marks the latest move by Foxconn, a major Apple Inc supplier, into autos. Foxconn has previously signed similar deals with Chinese startup Byton and automaker Fiat Chrysler in January.

Published 24 Feb, 2021 06:42pm

Pakistan

National prosperity survey to be completed by June end: Dr Sania

She said the PTI government under the leadership of Prime Minister Imran Khan was taking practical steps to raise the living standard of people.

Published 24 Feb, 2021 06:42pm

Stocks

Indian shares surge in glitch-ridden session as banks gain

The NSE Nifty 50 index ended 1.86% higher at 14,982.00, while the S&P BSE Sensex rose 2.07% to 50,781.69.
The top three boosts to the Nifty 50 were financial and banking stocks, which surged in extended trading, pushing the Nifty private bank index higher by 3.9%.

Published 24 Feb, 2021 06:40pm

Pakistan

Afridi urges youth to become voice of unheard Kashmiris

The world need to see Kashmir as a humanitarian issue and Kashmiris should be given the right to self determination, he added.

Published 24 Feb, 2021 06:41pm

Companies

ExxonMobil to sell some UK, North Sea assets to HitecVision for over $1bn

Exxon has been looking to sell its oil and gas assets since late 2019, seeking to free up cash to focus on a handful of mega-projects.
Exxon's share of production from these fields was about 38,000 barrels of oil equivalent per day in 2019, the company said.

Published 24 Feb, 2021 06:38pm

Pakistan

Ehsaas survey opens in Sargodha to determine deserving households for Kafaalat

The survey teams are collecting household data on the doorstep through android applications.

Published 24 Feb, 2021 06:40pm

Pakistan

ATC adjourns hearing on lawyers' bail cases

The court adjourned hearing on the request of petitioners' lawyers till March 2.

Published 24 Feb, 2021 06:39pm

Companies

Iberdrola to triple clean power fleet by 2030, welcomes offshore competition

Company targets 95GW of clean capacity by 2030.
Plans to bid in offshore wind auctions in next 18 months.
High bids from new developers benefit own valuations- CEO.

Published 24 Feb, 2021 06:36pm

Pakistan

CM reviews progress on ADP

The chief minister directed to take every possible step to ensure financial discipline and directed to adopt out-of-box solutions to curtail recurring expenditures.

Published 24 Feb, 2021 06:38pm

Pakistan

Vision of providing roof to shelter-less being materialized: CM

The CM was briefed that a residential block would comprise 32 units while more than 60 per cent of space had been reserved for roads, green belts, parks and footpaths.

Published 24 Feb, 2021 06:36pm

Pakistan

Investors meet provincial industries minister

The minister apprised the investors that 10 years income tax exemption and zero-duty facility on import of machinery for the first time is granted to the investors.

Updated 24 Feb, 2021 06:37pm

Industry

CVS Health to administer COVID-19 vaccines in six more states

About 44.5 million people in the United States had received at least one dose of the two-shot vaccines developed by Pfizer Inc and BioNTech SE or Moderna Inc , as of Tuesday morning.

Published 24 Feb, 2021 06:33pm

Financial

Qatar's Commercial Bank sells $500mn in AT1 bonds: document

It had given initial price guidance of around 4.75% for the bonds, which are non-callable for five years.
Barclays, Credit Suisse, Deutsche Bank , HSBC, JPMorgan and QNB Capital arranged the deal.

Published 24 Feb, 2021 06:28pm

USA

Brazil mid-February inflation highest in four years

That was down from the 0.78% rate of monthly inflation in January, but higher than the median forecast in a Reuters poll of 0.46% and enough to push the annual rate of inflation up to 4.57%.
Prices rose in six of the nine groups of goods and services covered by IBGE. Transport costs rose 1.1% in the month, accounting for almost half of the overall monthly increase.

Published 24 Feb, 2021 06:27pm

Europe

Britain does not favour sporting boycotts, says PM Johnson on China

Asked by a lawmaker whether he agreed that Britain should boycott the Winter Olympics if China did not end the treatment of the Uighurs, Johnson said it was right to highlight the "appalling campaign" against them.

Published 24 Feb, 2021 06:25pm

Stocks

TSX futures edge lower on inflation fears

Brent crude futures and US West Texas Intermediate crude futures gained 1.04% and 0.88%, respectively, while spot gold edged up 0.2%.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.36 lower at 18,349.67 on Tuesday.

Published 24 Feb, 2021 06:23pm

Europe

UK's Sunak to build bridge to recovery with more spending

Britain's Sunak to present budget on March 3.
Coronavirus pandemic has strained public finances.
More support spending seen, but tax rises loom.

Published 24 Feb, 2021 06:22pm

Stocks

Strong German data helps European shares recover; Wall Street futures subdued

Falling tech stocks pulled Asian markets lower overnight, as recent gains in US Treasury yields put lofty valuations under pressure.
"Investors should expect an extended period in which interest rates remain below inflation."

Published 24 Feb, 2021 06:20pm

Companies

HollyFrontier posts bigger-than-expected loss on weak demand

US refining margins were on average below $10 a barrel - the threshold above which most refiners make money - for the majority of the fourth quarter of 2020.
The company's quarterly refinery throughput, or the amount of crude processed, fell nearly 2% from the previous quarter to 412,780 barrels per day.

Published 24 Feb, 2021 06:15pm

Sports

Bayern's Musiala opts for German national team instead of England

The 17-year-old became the youngest English scorer in the Champions League when he netted for Bayern in Tuesday's 4-1 last 16 first leg win over Lazio in Rome.
I thought about it a lot but at the end I listened to the feeling that it is the right decision to play for Germany.

Published 24 Feb, 2021 06:09pm

Pakistan

PM emphasizes on improving trade links in sub-continent

The Sri Lankan State Minister for Commerce said bilateral cooperation in trade is of vital importance to alleviate poverty.

Published 24 Feb, 2021 06:10pm

Pakistan

PM affirms Pakistan's steadfast support to Sri Lanka

The Prime Minister extended a cordial invitation to President Gotabaya Rajapaksa to visit Pakistan at the earliest convenience.

Published 24 Feb, 2021 06:09pm

Pakistan

Transparent elections vital for strengthening democracy: Shibli

He said the opposition alliance believes in politics of buying and selling and it is also representing the status quo.

Published 24 Feb, 2021 06:08pm

South Asia

Indonesia in ‘intensive’ talks with Myanmar military and opposition

She held a press conference after meeting in Bangkok with the Thai foreign minister and the Myanmar junta's top diplomat.
"We ask for everybody to use restraint and not resort to violence ... to avoid casualties and bloodshed," Retno told reporters.

Published 24 Feb, 2021 06:06pm

Pakistan

Pakistan transformed geo-political priorities into geo-economic priorities: FM

Qureshi said we have decided to give one hundred scholarships to Sri Lankan students in top medical institutes of Pakistan.

Published 24 Feb, 2021 06:07pm

Pakistan

Economic stability in country essential for successful foreign policy: President

The President said that all measures are being taken in consultation and cooperation with Ulema and the Islamic Ideology Council.

Published 24 Feb, 2021 06:06pm

Pakistan

Action taken against officers responsible for Ehsanullah Ehsan's escape: DG ISPR

Maj Gen Babar Iftikhar termed Ehsan’s escape was a "very serious" matter, which had been investigated thoroughly.
- Ehsan was arrested in 2017, but escaped in January last year from a “safe house” where he was being held by Pakistan’s intelligence agency.

Updated 24 Feb, 2021 06:07pm

Africa

South Africa boosts vaccine spending in 'balancing act' amid debt worries

South Africa is African nation hardest hit by pandemic.
Facing more infection COVID-19 variant but vaccinations lagging.
Pandemic has worsened fiscal position.

Published 24 Feb, 2021 06:01pm

Pakistan

SHC extends Sharjeel’s bail in a corruption reference

The court ordered the NAB prosecutor to submit inclusive response in the next hearing.

Published 24 Feb, 2021 06:03pm

Pakistan

COVID-19 claims 14 more lives, infects 348 others

He added that the condition of 372 patients was stated to be critical, including 50 shifted to ventilators.

Published 24 Feb, 2021 06:02pm

Pakistan

Punjab CM reviews uplift schemes progress

The chief minister directed to take every possible step to ensure financial discipline and directed to adopt out-of-box solutions to curtail recurring expenditures.

Published 24 Feb, 2021 06:00pm

South Asia

Japan's vaccination chief says Tokyo Olympics not in his planning

Japan launched its inoculation drive last week and has already taken delivery of more than 800,000 doses.
Kono also said he is not considering giving single doses of the Pfizer vaccine to the elderly to help stretch out scarce supplies.

Published 24 Feb, 2021 05:59pm

Pakistan

Rs10bn pact signed to construct 4000 flats for LDA City Naya Pakistan

The CM added that another PC-I of Rs10 billion has also been approved to construct 4000 apartments in the first phase.

Published 24 Feb, 2021 05:57pm

Commodities

Copper holds near 9-1/2 year high as weak dollar, low inventories support

Benchmark three-month copper on the London Metal Exchange (LME) rose 0.3% to $9,231 per tonne.
"The macro story of strong growth and higher inflation is likely to be the main theme."

Published 24 Feb, 2021 05:57pm

Industry

T.J. Maxx parent misses sales estimates on coronavirus-led store closures

TJX estimated that temporary store closures in Europe and Canada negatively impacted its fourth-quarter sales by about $950 million to $1.05 billion.
Net sales fell to $10.94 billion in the quarter ended Jan. 30, from $12.21 billion a year earlier. Analysts had expected sales of $11.48 billion, according to IBES data from Refinitiv.

Published 24 Feb, 2021 05:49pm

Stocks

Asian markets sink as rate fears trump Powell reassurances

London and Frankfurt fell at the open while Paris was barely moved.

Published 24 Feb, 2021 05:55pm

Money & Banking

UK bank Lloyds logs profit slump on virus hit

Pre-tax profit tumbled 72 percent to £1.2 billion, while income tanked by around one third to £29.2 billion.

Published 24 Feb, 2021 05:51pm

Africa

Egypt registers Russia's Sputnik V COVID-19 vaccine

RDIF, Russia's sovereign wealth fund responsible for marketing the vaccine abroad, said Sputnik V had been approved by the Egyptian Drug Authority using an emergency use authorisation procedure. Tunisia and Algeria have already approved the shot.

Published 24 Feb, 2021 05:49pm

South Asia

Malaysia under fire after controversial Myanmar deportation

The migrants departed Tuesday on Myanmar navy ships from a Malaysian military base back to their homeland, just weeks after a coup.

Published 24 Feb, 2021 05:49pm

World

Venezuela National Assembly urges expulsion of EU ambassador

The election results were not recognized by the EU, the United States nor several Latin American countries.

Updated 24 Feb, 2021 05:53pm

World

Hillary Clinton and Louise Penny to publish political thriller

They had co-authored another book in 2018 called "The President is Missing" about a terrorist cyberattack on the White House. It sold more than three million copies and is being adapted for television.

Updated 24 Feb, 2021 05:53pm

World

US orders deeper testing after engine scare on Boeing plane

The MAX began returning to commercial service in late 2020, with airline travel still depressed due to the coronavirus pandemic.

Updated 24 Feb, 2021 05:53pm

World

Britain's au pair system 'killed' by Brexit

"If we can't find somebody in September, either me or my husband will have to stop working," she added, calling the situation a "frustration".

Updated 24 Feb, 2021 05:53pm

Managed Funds

Spectre of inflation rears its head over stock markets

"Inflation potential can only come if there is an issue in terms of resources, in particular if there is more or less full employment and that something we are not seeing right now," Blanco explained.

Updated 24 Feb, 2021 05:52pm

Europe

Amnesty strips Navalny of 'prisoner of conscience' status

Amnesty said it took the decision to rescind his status of prisoner of conscience "in relation to comments he made in the past."

Published 24 Feb, 2021 05:48pm

Africa

Ghana receives world's first doses of free Covax vaccines

Vaccinations are scheduled to start on Tuesday in Accra, Kumasi and Obuasi.

Published 24 Feb, 2021 05:48pm

USA

US seeks UN rights council seat after Trump pullout

The United States announced earlier this month that it would re-engage with the 47-member council after Trump's administration pulled the country out in June 2018.

Published 24 Feb, 2021 05:41pm

Sports

Crusaders red-hot favourites before Super Rugby Aotearoa kicks off

In his absence, temporary replacement Clayton McMillan must attempt to take over and build a credible challenge.

Updated 24 Feb, 2021 05:45pm

Companies

Brazil's Petrobras rebounds partly from stock plunge

The price hikes have triggered backlash in Brazil, a top 10 oil producer with output of 3.67 million barrels per day in 2019.

Updated 24 Feb, 2021 05:45pm

World

Biden, al-Kadhemi discuss embassy rocket strikes

The attacks are usually claimed by shadowy groups that both Iraqi and US officials say are "smokescreens" for hardline pro-Iran factions inside Iraq.

Updated 24 Feb, 2021 05:45pm

World

Boeing 777: Engine maker will conduct inspections ordered by US regulator

The company said the fan blades would be examined using Thermal Acoustic Imaging (TAI) inspection "to confirm airworthiness."

Updated 24 Feb, 2021 05:45pm

World

Two Mali soldiers killed in ambush

Mali was plunged into conflict in 2012 when local Tuareg radicals, supported by jihadists, revolted in the north of the country.

Updated 24 Feb, 2021 05:45pm

World

At least 50 inmates dead in Ecuador prison riots

The government's SNAI prisons management body has said a dearth of personnel "hinders immediate response" to prisoner revolts.

Updated 24 Feb, 2021 05:45pm

World

Two more Biden cabinet picks confirmed, but one in peril

Also under fire was Xavier Becerra, California's attorney general whom Biden tapped for health secretary.

Updated 24 Feb, 2021 05:43pm

Africa

Italy seeks UN probe into DRC envoy's killing

Di Maio said a team of Italian police had already been dispatched to the DRC for an initial investigation and others would follow.

Published 24 Feb, 2021 05:39pm

Europe

Ukraine to launch vaccine drive after delays spark ire

Ukraine received 500,000 doses of the AstraZeneca/Oxford vaccine on Tuesday, marketed under the name Covishield and produced at the Serum Institute in India.

Published 24 Feb, 2021 05:38pm

Africa

Niger opposition leader claims election win despite official results

The elections have been presented as the first democratic transition in the history of the coup-prone Sahel state.

Published 24 Feb, 2021 05:36pm

Europe

France slams 'institutional repression' of China's Uighurs

Le Drian cited Xinjiang among several examples of "considerable regressions for human rights" in 2020.

Published 24 Feb, 2021 05:34pm

World

Germany convicts Syrian in landmark torture trial

Gharib hid his face from the cameras with a folder as the verdict was read out, arms folded and wearing a medical mask.

Published 24 Feb, 2021 05:32pm

Sports

England suffer early blows in India pink-ball Test

Ben Stokes, on six, and Ollie Pope, on one, were batting in front of a hostile crowd in the world's biggest cricket stadium in Ahmedabad.

Published 24 Feb, 2021 05:31pm

Europe

Hungary starts using Chinese vaccine in EU first: PM

Hungary, whose population is around 10 million, has ordered five million doses of the Chinese jab.

Published 24 Feb, 2021 05:26pm

South Asia

Malaysian king says parliament can sit, in blow for embattled PM

Muhyiddin's coalition appears to be falling apart and he is also facing a serious challenge from opposition leader Anwar Ibrahim.

Published 24 Feb, 2021 05:26pm

Africa

South Africa sets out budget as economy reels from pandemic

Resilience will be needed after a year of rolling restrictions on movement and business to curb the coronavirus outbreak.

Published 24 Feb, 2021 05:23pm

Europe

EU chief seeks 'amicable' solution as AstraZeneca admits new delays

Von der Leyen added that she advocated "working together with the companies to ensure global production is improved".

Published 24 Feb, 2021 05:20pm

Sports

Collins stuns world number one Barty in Adelaide

Collins seized on some poor serving from the world number one to claim a convincing 6-3, 6-4 win in just 65 minutes.

Published 24 Feb, 2021 05:18pm

Pakistan

PM Imran inaugurates High Performance Sports Complex in Colombo

"I inaugurated Sri Lanka's High Performance Sports Complex. It was great to meet the Sri Lankan cricket greats invited on the occasion who had played against me," says Khan.
PM Imran also met the Sri Lankan president on the occasion. He tweeted that it was great to meet and discuss poverty alleviation with Gotabaya Rajapaksa.

Updated 24 Feb, 2021 05:21pm

Africa

Boko Haram killed 16 in Nigeria attack: local militia

Boko Haram has previously made incursions into Maiduguri, the capital of Borno state, using heavy guns and suicide bombers.

Published 24 Feb, 2021 05:16pm

Business & Finance

Heathrow airport dives into £2bn annual loss

The loss, equivalent to $2.8 billion or 2.3 billion euros, reflected a 73-percent plunge in passenger numbers, Heathrow said in a statement.

Published 24 Feb, 2021 05:14pm

Pakistan

Pakistan Navy seizes 700kg narcotics near Pishukan coast

Pakistan Navy says that the drugs are valued at approximately Rs2.2 Billion and they have been handed over to Anti-Narcotics Force for further legal formalities
Successful execution of operation against narcotics smuggling is based on prolonged surveillance and operational coordination: PN

Published 24 Feb, 2021 05:05pm

Europe

Russia's Lavrov slams West for pandemic 'selfishness'

He accused Western countries of having a "desire to take advantage of the pandemic to punish 'undesirable' governments".

Published 24 Feb, 2021 05:13pm

Europe

Coronavirus toll at 1100 GMT Wednesday

At least 112,079,230 cases of coronavirus have been registered. Of these, at least 67,803,500 are now considered recovered.

Published 24 Feb, 2021 05:10pm

Europe

Turkey to examine lifting opposition MPs' immunity

The HDP stands accused of links to the outlawed Kurdistan Workers' Party (PKK) but the party strongly denies formal ties.

Published 24 Feb, 2021 05:10pm

Pakistan

Maryam demands re-elections in entire Daska, says agencies falling under PM were involved in rigging

The PML-N has submitted a petition to the ECP demanding a re-election in the entire NA-75 constituency.

Published 24 Feb, 2021 04:52pm

Pakistan

Pakistan has offered Sri Lanka $50 million credit line for defence cooperation, says Qureshi

Qureshi says Pakistan has transformed its geo-political priorities into geo-economic priorities
FM says Pakistan is standing side by side with Sri Lanka as a partner for the development of human resources, security cooperation, fighting terrorism and development

Updated 24 Feb, 2021 04:42pm

World

Excellent meeting with Sri Lankan President Gotabaya, PM says following discussions on poverty alleviation

"We also exchanged views on how to give farmers more for their produce and get cheaper food and fruits to the population by using technology to eliminate middle men," the PM tweeted.
The PM also inaugurated Sri Lanka's High Performance Sports Complex.

Published 24 Feb, 2021 04:32pm

Companies

Hyundai to recall 82,000 electric cars globally due to fire risk

Hyundai Motor has announced that it will be recalling about 82,000 electric vehicles globally due to fire risks and will be replacing their battery systems.

Updated 24 Feb, 2021 04:32pm

Business & Finance

Moody’s expects Islamic banking to expand across South Asia post-pandemic

As per a new report by Moody's Investors Service, Islamic banks in South and Southeast Asia have sufficient capital and liquidity to meet increased demand for financing as economies recover from the pandemic, while young, growing populations and government efforts to develop the sector will support long-term growth.

Published 24 Feb, 2021 04:17pm

Automobile

The all new KIA Sorento enters the Pakistani market

KIA’s “Powerplay” testing event kicked off with car fanatics and content creators as they took the Sorento through extreme scenarios.
KIA Sorento’s 2.4L FWD, 2.4L AWD and 3.5L FWD variants are expected to launch at a price of Rs. 7 million, Rs. 8 million and Rs. 8.4 million respectively.

Updated 24 Feb, 2021 04:17pm

Telecommunication

IT & ITeS export remittances rise to $1.119bn: PSEB

IT-related export remittances have risen up to $1.119 billion during the July to January period of financial year 2020-21, according to the Pakistan Software Export Board (PSEB).

Published 24 Feb, 2021 03:25pm

World

Twitter CEO Dorsey's Square firm invests $170 million in Bitcoin

Twitter CEO Jack Dorsey's credit and payments firm Square has invested $170 million in Bitcoin, tripling his previous investment in the cryptocurrency giant.
The announcement came as Bitcoin's value surged past $50,000, setting a new record.

Updated 24 Feb, 2021 03:28pm

Pakistan

LHC grants bail to Hamza Shehbaz in money-laundering case

The court has directed to release Hamza Shehbaz from the Kot Lakhpat Jail
NAB had arrested Leader of the Opposition in the Punjab Assembly Hamza Shahbaz from inside the Lahore High Court (LHC) in two cases regarding money laundering and holding assets beyond means

Updated 24 Feb, 2021 03:08pm

Managed Funds

Hong Kong plans lower budget deficit as economy expected to recover

Gross domestic product (GDP) shrank 6.1% in 2020, its worst annual performance on record since 1962.

Published 24 Feb, 2021 02:57pm

Commodities

CBOT soybeans may retest resistance at $14.23-1/4

The correction is presumed to have ended at $14.05 and the uptrend has resumed. A fall below $14.05 could be extended into the range of $13.88 to $13.94-3/4.

Published 24 Feb, 2021 02:55pm

Stocks

Indian shares track global gains on Fed rate view; Reliance shines

Among the 14 major sub-indexes on the Nifty, IT and FMCG were in negative territory, falling 1.2% and 0.3%, respectively.

Published 24 Feb, 2021 02:30pm

Financial

NZ central bank holds fire on rates, tempers tightening expectations

RBNZ's caution on the outlook disappointed some traders who expected the central bank to acknowledge New Zealand's improved macroeconomic conditions since the last policy decision in November 2020.

Published 24 Feb, 2021 02:27pm

World

Vietnam's first batch of COVID-19 vaccine arrives from South Korea

The Southeast Asian country with a population of 98 million has said it will receive 60 million vaccine doses this year, including half under the WHO-led COVAX scheme.

Published 24 Feb, 2021 02:25pm

Energy

Oil prices drop on surprise build in US crude stocks

"This rally has certainly overshot itself... We are at levels much higher than pre-Covid and demand nowhere near those levels," said Sukrit Vijayakar, director of energy consultancy Trifecta.

Published 24 Feb, 2021 02:22pm

Commodities

Palm extends three-day rally on tight supply, stronger rival oils

Soyoil prices on the Chicago Board of Trade were up 0.2%. Dalian's most-active soyoil contract rose 1.8%, while its palm oil contract gained 2.3%.

Published 24 Feb, 2021 02:20pm

Financial

Sri Lanka central bank says controlling foreign debt will 'no doubt' require some austerity

Reports the country will default on its debt were "politically and ideologically motivated", he said, adding the country was committed to honouring its foreign debt obligations.

Published 24 Feb, 2021 02:17pm

Stocks

Australian shares close lower on mining, tech losses

New Zealand's benchmark S&P/NZX 50 index fell 0.9% as weaker financial and healthcare sectors weighed.

Published 24 Feb, 2021 01:46pm

Bullion Rate

Gold rises on dollar weakness, dovish comments from Fed's Powell

Spot gold rose 0.2% to $1,808.15 per ounce by 0552 GMT, after hitting its highest since Feb. 16 at $1,815.63 on Tuesday. US gold futures gained 0.1% to $1,808.40.

Published 24 Feb, 2021 01:43pm

Pakistan

Saifullah Abro, Rauf Siddiqui Challenge Election Tribunal’s decision in SHC

Both candidates have requested the court to permit them to contest the Senate election
Abro is accused of concealing his assets

Published 24 Feb, 2021 01:45pm

Commodities

CBOT corn may retest resistance at $5.59-3/4

A break below $5.45-3/4 will make the wedge invalid. A bearish target zone of $5.30 to $5.37-3/4 will be established accordingly.

Published 24 Feb, 2021 01:41pm

Companies

Hyundai Motor to replace battery systems in costly electric car recall

There have been some 15 cases of fires involving the Kona EV - 11 in South Korea, two in Canada and one each in Finland and Austria, according to the transport ministry.

Published 24 Feb, 2021 01:38pm

Companies

Top Toshiba shareholder renews call for probe over pressure on AGM vote

"Even if the third party acted in isolation, does the Board not have any responsibility to protect its shareholders' rights?" the letter said.

Published 24 Feb, 2021 01:35pm

Stocks

Asia markets slide as higher bond yields test tech sector

Copper hit a 9-1/2 year high in London and Shanghai while benchmark Brent crude futures slipped 0.4% to $65.10 a barrel after hitting a one-year high of $66.79 on Tuesday. US crude futures fell 0.8% to $61.17.

Published 24 Feb, 2021 01:34pm

Financial

Qatar's Commercial Bank expected to sell $500 million AT1 bonds, sources say

It gave initial price guidance of around 4.75% for the bonds, which are expected to launch later on Wednesday, said the sources, who declined to be identified as they are not authorised to speak to media.

Published 24 Feb, 2021 01:33pm

World

Japan regions push to end state of emergency as virus infections fall

That may offer a model for the removal of curbs in the 10 still under emergency, a cabinet official told Reuters.

Published 24 Feb, 2021 01:31pm

Business & Finance

Iraq's southern oil exports average 2.7mn bpd so far in February

Iraq affirms its full commitment to the OPEC+ oil cut deal, a statement cited Hamza as saying on Wednesday.

Updated 24 Feb, 2021 01:30pm

Pakistan

Maryam Nawaz summoned by NAB on March 2 in Jati Umra land case

The PML-N leader has been summoned to appear before a three-member combined investigation team of NAB.

Updated 24 Feb, 2021 01:16pm

Pakistan

Spotify now available to listeners in Pakistan for free

Spotify offers free service with an upgrade to Spotify Premium, a subscription service that allows users to enjoy music without ad interruptions
The service comes to Pakistan with an unrivalled mix of features and the freedom to play across a wide range of devices and app integrations

Published 24 Feb, 2021 01:00pm

Technology

WhatsApp warns users who don’t accept new policy won’t be able to text, call

The popular messaging platform has given customers a deadline of May 15.
Those who do not accept the policy will have their accounts deactivated for 120 days, after which they will be deleted.

Published 24 Feb, 2021 12:29pm

Stocks

Japan's Nikkei closes below 30,000 on profit booking in tech shares

Railway and airline shares gained, with Japan Airlines rising 3.6% and ANA Holdings gaining 2.12%.

Published 24 Feb, 2021 12:28pm

Financial

India's central bank, markets must work together, governor says

Investor appetite has been low despite the central bank's assurance that it would provide ample liquidity and ensure a smooth government borrowing programme as traders seek more direct support from the RBI.

Published 24 Feb, 2021 12:26pm

Financial

Singapore bank OCBC signals recovery as credit costs ease

Speaking to reporters, Wong said: "It is too early for me to talk about how we are going to utilise our very strong capital but at the moment, we do not have any M&A plan under review."

Published 24 Feb, 2021 12:25pm

Commodities

CBOT wheat may test resistance at $6.76-3/4

A retracement analysis reveals a break above $6.62-3/4. The contract may climb into a range of $6.74-1/4 to $6.84.

Published 24 Feb, 2021 12:22pm

World

Poland to announce tougher coronavirus restrictions on Wednesday

"We can expect this direction...today unfortunately we are going to break the barrier of 10,000 new daily coronavirus cases again," Muller said.

Published 24 Feb, 2021 12:19pm

Business & Finance

Dawood urges Sri Lankan businesses to take advantage of opportunities in Pakistan

Highlighting the trade relations between the two countries since signing the Free Trade Agreement (FTA) back in 2005, the advisor was of the view that since then “our exports have doubled and are now around $400 million. This seems good, but I honestly feel not good enough it doesn't match the relationship that we have between our countries and I feel that it should be much better.”

Published 24 Feb, 2021 12:13pm

South Asia

Afghan delegation to arrive in Islamabad today

A delegation comprised of President Ashraf Ghani's Special Envoy Umer Daudzai are en-route to Islamabad.

Published 24 Feb, 2021 12:07pm

Business & Finance

Belarus freezes prices of key social items in inflation battle

In January, inflation quickened to 7.7% in annual terms.

Published 24 Feb, 2021 12:17pm

World

First COVID-19 vaccine doses dispatched by COVAX arrive in Ghana

COVAX is co-led by the WHO, the GAVI vaccines alliance, the Coalition for Epidemic Preparedness Innovations (CEPI) and the United Nations children's fund UNICEF.

Published 24 Feb, 2021 12:15pm

World

UK's Sunak could extend stamp duty holiday until June-end

Sunak will use his annual budget on March 3 to move the policy to the end of June, bringing it in line with the easing of lockdown restrictions, the newspaper said.

Published 24 Feb, 2021 12:13pm

Stocks

South Korea shares fall most in a month on valuation nerves, HK stamp duty hike

The won ended at 1,112.2 per dollar on the onshore settlement platform, 0.14% lower than its previous close.

Published 24 Feb, 2021 12:12pm

Financial

Lloyds profits fall as it targets wealth push

Horta-Osório is leaving Lloyds after a decade running the bank to stand for election as chairman of Credit Suisse in April, with HSBC executive Charlie Nunn set to replace him on August 16.

Published 24 Feb, 2021 12:10pm

Companies

Puma forecasts strong rebound from end of second quarter

Fourth-quarter sales rose by a currency-adjusted 9.1% to 1.52 billion euros.

Updated 24 Feb, 2021 12:10pm

World

Tiger Woods suffers multiple injuries in Los Angeles car crash

Local police said that Tiger Woods was traveling at a high rate of speed down a hilly part of the road when the crash happened
Woods was transported from the crash site to Harbor-UCLA Medical Center via ambulance with a shattered ankle and two leg fractures

Published 24 Feb, 2021 11:13am

Stocks

Tokyo stocks open lower on lingering inflation worries

It said it plans Wednesday to suspend five production lines at four plants, among a total of 28 lines at 14 plants.

Published 24 Feb, 2021 11:14am

Stocks

Hong Kong shares up at open

The Hang Seng Index rose 0.23 percent, or 70.01 points, to 30,702.65.

Published 24 Feb, 2021 11:08am

Commodities

SolarWinds hack required massive, sophisticated effort: Microsoft president

"We understand the gravity of the situation," he said.

Published 24 Feb, 2021 11:04am

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