News Archives for Latest - 2021-02-26

Pakistan

COVID-19 claims 13 more patients, infects 322 others

Shah said that 10,865 samples were tested which detected 322 cases that constituted three percent current detection rate.

Published 26 Feb, 2021 11:21pm

Pakistan

PTI’s popularity, vote bank increasing in Punjab: Asad

He assured the PTI government would clinch majority seats in the upcoming Senate elections on the basis of its performance and prudent policies launched during the ongoing tenure.

Published 26 Feb, 2021 11:18pm

Pakistan

PFA team disposes of 10,000 litres impure milk

The team recovered 19 bags of powder, ghee and other material besides disposing of 10,000 litres of impure milk.

Published 26 Feb, 2021 11:15pm

Pakistan

Bullion prices on Friday

Following were the bullion prices in Karachi on Friday.

Published 26 Feb, 2021 11:12pm

Commodities

Arabica coffee slips as Brazil currency extends fall

May London cocoa rose by 8 pounds, or 0.5%, to 1,757 pounds a tonne, underpinned by sterling weakness against the dollar.
May raw sugar fell by 0.21 cent, or 1.25%, to 16.63 cents per lb, extending its retreat from the almost four-year peak of 17.52 cents set on Tuesday.

Published 26 Feb, 2021 09:30pm

Commodities

US wheat, soybeans, corn fall on profit taking

Corn and soybean futures also weakened, with traders noting a lack of export activity this week even with Chinese buyers back on the market following the Lunar New Year celebrations.
"A bull market needs to be fed everyday," said Mark Gold, founder of Top Third Ag Marketing. "We just do not see export numbers justifying these kind of prices."

Published 26 Feb, 2021 09:28pm

USA

Canada budget deficit swells to C$248bn over first nine months of 2020/21

Revenues dropped by 15.6% reflecting a broad-based decline including lower tax revenues. Program expenses, meanwhile, jumped 86.1% largely due to emergency transfers to individuals, businesses and the provinces.
On a monthly basis, Canada posted a deficit of C$16.15 billion in December 2020, compared to the C$782 million surplus recorded in December 2019.

Published 26 Feb, 2021 09:26pm

Commodities

Gold slumps as rising US yields, dollar dull lustre

Gold down over 6% for the month.
US consumer spending rebounds in January.
Silver set for first monthly fall in three.
Palladium, platinum set for monthly gain.

Published 26 Feb, 2021 09:23pm

Europe

France flags G20 consensus on tax reform, IMF SDRs, debt

Le Maire said talks on rewriting decades-old rules on cross-border taxation needed to wrap up by summer and that a new allocation of International Monetary Fund (IMF) special drawing rights, along with a new G20 framework to ease poor countries' debt, were needed.

Published 26 Feb, 2021 09:21pm

USA

US drops demand for 'safe harbor' regime in global tax talks

Secretary Yellen announced that we will engage robustly to address both Pillars of the OECD project, and that that the United States is no longer advocating for "safe harbor" implementation of Pillar 1.

Published 26 Feb, 2021 09:19pm

Stocks

TSX slips as energy, materials stocks track weaker commodities

The energy sector dropped 1.3% following a fall in oil prices as a bond price rout led to gains in the US dollar. Crude supply is expected to rise in response to prices climbing above pre-pandemic levels.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.1% as gold futures fell 0.9% to $1,757.8 an ounce.

Published 26 Feb, 2021 09:17pm

Stocks

Wall Street extends losses as inflation fear lingers

Tech-focused stocks rebound.
Energy stocks slip as oil prices slide.
Banks stocks drop as US bond yields ease.
Indexes: Dow down 1.24%, S&P dips 0.67%, Nasdaq down 0.32%.

Published 26 Feb, 2021 09:14pm

Companies

AstraZeneca-Amgen drug could widen treatment options for severe asthma

The medicine, tezepelumab, cut the rate of asthma attacks by 56% among patients when compared to placebo in a year-long late-stage study, which had roughly 1,000 patients who were already receiving standard care, the drugmakers said on Friday.
The drug cut the risk of exacerbations by 70% in patients with more than or equal to 300 eosinophils per microlitre of blood, which is the baseline, by 41% in those with less than 300 cells, and 39% with less than 150 cells.

Published 26 Feb, 2021 09:12pm

USA

US House on verge of approving Biden's $1.9 trillion COVID-19 aid plan

The measure would also send a new round of emergency financial aid to households, small businesses and state and local governments.
A group of Senate Republicans had offered Biden a slimmed-down alternative, but the White House and some economists insist a big package is needed.

Published 26 Feb, 2021 09:10pm

USA

Biden says US will hold Russia accountable over Crimea

The United States does not and will never recognize Russia's purported annexation of the peninsula, and we will stand with Ukraine against Russia's aggressive acts. We will continue to work to hold Russia accountable for its abuses and aggression in Ukraine.
The Biden administration has said still conducting its foreign policy reviews regarding Russia, China and other key areas after taking the reins from former Republican President Donald Trump on Jan. 20.

Published 26 Feb, 2021 09:08pm

Europe

Czech parliament backs new pandemic powers as government seeks tighter lockdown

The country of 10.7 million has had among the world's highest per capita rates of COVID-19 cases and deaths in recent weeks, with new variants complicating the situation.
The so-called pandemic bill was supported by almost all parties in parliament and gives the Health Ministry the right to issue bans and orders, like closing shops or services, with the cabinet's consent.

Published 26 Feb, 2021 09:07pm

Commodities

Asia Gold-Low prices spark flurry of activity in India

China premiums between $3-$7/oz amid muted activity.
Chinese net gold imports via Hong Kong fall in January.
Indian jewellers aggressively building inventory- dealer.

Published 26 Feb, 2021 09:05pm

USA

US consumer spending rebounds; inflation muted

Consumer spending increases 2.4% in January.
Personal income jumps 10%; saving rate rises to 20.5%.
Core PCE price index rises 0.3%; up 1.5% year-on-year.

Published 26 Feb, 2021 09:03pm

South Asia

Philippines' Duterte signs indemnity bill for COVID-19 vaccine rollout

Despite having one of the highest number of coronavirus infections in Asia, the Philippines will be the last Southeast Asian nation to receive its initial set of vaccines.
It covers the creation of a 500 million pesos ($10.26 million) indemnity fund to cover compensation for potential serious adverse effects stemming from the doses' emergency use.

Published 26 Feb, 2021 09:01pm

Money & Banking

Russia seen holding interest rates throughout 2021

The consensus forecast of 20 analysts and economists polled in late February suggested the central bank would hold its benchmark rate at 4.25% throughout 2021. Forecasts for the year-end ranged from 4.0% to 5.5%.
Analysts forecast inflation would rise to 5.3% in the first quarter of 2021 before gradually slowing below the 4% target to 3.8% by the end of the year.

Published 26 Feb, 2021 09:01pm

Commodities

Soybeans down 18-23 cents, wheat down 11-12, corn down 5-9

Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.
The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots.

Published 26 Feb, 2021 08:58pm

Money & Banking

Nigeria needs to regulate cryptocurrencies, not ban them: vice president

The Securities and Exchange Commission (SEC) has meanwhile sought to regulate cryptocurrency investments on the grounds that they qualify as securities transactions.
The central bank has argued that cryptocurrencies, which are unregulated and not legal tender, are risky for the user.

Published 26 Feb, 2021 08:56pm

USA

Canada approves AstraZeneca's COVID-19 shot in boost to vaccination push

The vaccine was approved under Canada's interim order system, which allows for accelerated approvals similar to the US Food and Drug Administration's emergency use authorizations.
Canada has secured access to 20 million doses of the AstraZeneca vaccine.

Published 26 Feb, 2021 08:54pm

Energy

Belarus to export up to 300,000 tonne of oil products via Estonia, Latvia

The deal calls for up to 10 million tonnes of oil products shipments, split over three years, from March, and is part of a show of support for Minsk from Moscow following last year's presidential election.
Latvian ports of Riga and Ventspils are projected to get up to 111,000 tonnes of gasoline produced at the Mozyr refinery, an increase from 74,000 tonnes set for February.

Published 26 Feb, 2021 08:52pm

Forex

Mexico's peso hits over 3-week low; Vale lifts Bovespa after results

UBS does not expect rise in yields to derail equity rally.
Vale jumps as much as 2%; Co upbeat on outlook for core earnings.

Published 26 Feb, 2021 08:49pm

Commodities

Chile's Codelco reports bumper year for profits despite pandemic

The 55% increase in profits came amid a surge in global metal prices and higher sales as global markets including Chile's main buyer China begin to rally from the pandemic.
Codelco said an 8.6% drop in direct cash costs to $1.294 per pound had also helped bolster profits, attributing these primarily to the lower price of inputs, a strengthening peso, upped production and a cash-saving drive by managers.

Published 26 Feb, 2021 08:47pm

South Asia

India's economy exits from recession, recovery seen gathering pace

Economy grows 0.4% in Dec qtr vs 7.3% contraction in Sept qtr.
Manufacturing up 1.6% in Dec qtr vs 0.6% in Sept qtr.
Govt says inoculation drive to further boost economy.

Published 26 Feb, 2021 08:45pm

Financial

US yields soften after vaulting to one-year highs; sentiment wary

The benchmark 10-year US Treasury note's yield was down 5.2 basis points at 1.4633%. On Thursday it touched 1.614%, the highest in a year, rocking world markets.
Part of Friday's decline could also reflect dealers convincing clients to buy bonds after poor demand for a 7-year note auction on Thursday.

Published 26 Feb, 2021 08:44pm

Forex

C$ hits a 1-week low as bond market selloff rattles investors

Canadian dollar weakens 0.3% against the greenback.
Loonie hits a one-week low at 1.2684.
Price of US oil falls 1.7%.
Canadian bond yields mixed across a flatter curve.

Published 26 Feb, 2021 08:41pm

Sports

Tuchel says improving Chelsea a work in progress

Tuchel has focused on shoring up Chelsea's defence in his efforts to make them more consistent and the London side have conceded only two goals in their last eight games.
"I think it's not a pleasure to play against us but the picture isn't finished. We have a long way to go," he told a news conference ahead of Sunday's Premier League clash at home to Manchester United.

Published 26 Feb, 2021 08:39pm

Energy

Winners and losers in energy sector from Texas cold snap

EQT Corp said it also benefited from the high prices. The company mainly produces gas out of the Marcellus and Utica shale regions in Pennsylvania and Ohio.
Shares of refiners such as HollyFrontier Corp and Valero Energy Corp rose after the freezing temperatures knocked a large swath of US Gulf Coast refining offline.

Published 26 Feb, 2021 08:37pm

Stocks

US SEC subpoenas Overstock, seeks information on 2019 retail forecast

The online retailer and blockchain tech investor is cooperating with the investigation, it said in a regulatory filing, and continues to provide documents requested in the subpoena.
Earlier this week, the company posted a surprise quarterly profit and said its revenue soared 84% over the previous year.

Published 26 Feb, 2021 08:36pm

Companies

Russia's Gazprom halts Yubileynoye gas output because of fire

"The accident will not affect gas supplies to Gazprom customers," Gazprom Dobycha Nadym said, adding that there were no casualties.

Published 26 Feb, 2021 08:34pm

Companies

Norwegian Air has cancelled all remaining 88 jets in Airbus order

The airline took an impairment charge of 4.8 billion crowns ($93.51 million) in the fourth quarter relating to the termination of aircraft purchase contracts with Airbus and Boeing.

Published 26 Feb, 2021 08:32pm

Companies

Largest US refinery restarts after Texas freeze

The 325,000-bpd VPS-5 crude distillation unit (CDU) and 110,000-bpd coker were increasing production, the sources said. The refinery was shut on Feb. 15 due to severe cold weather along the Gulf Coast.
Motiva also restarted the 105,000-bpd HCU-2 hydrocracker on Friday, the sources said, as well as two hydrotreaters. In addition, the 32,000-bpd HTU-3 hydrotreater is scheduled to restart on Friday.

Published 26 Feb, 2021 08:31pm

USA

FDA advisory panel to review Johnson & Johnson COVID-19 vaccine with thumbs up expected

After it receives the recommendation, the FDA is likely to authorize the vaccine for emergency use within a day or so, making it the third available in the United States, and the only one that requires just one shot.
The panel will consider whether the benefits of the vaccine outweigh its risk for use in people aged 18 and older.

Published 26 Feb, 2021 08:29pm

USA

Ahead of Blinken meeting, Mexico president says energy policy is a sovereign matter

Lopez Obrador, an energy nationalist who has sought to renegotiate electricity and pipeline contracts with US and Canadian companies, faced little pressure from former US President Donald Trump over his policies.
In seeking to use more domestic fuel, Lopez Obrador has also limited the growth of foreign renewable energy operators in a move critics say affects Mexico's climate emission obligations.

Published 26 Feb, 2021 08:23pm

Europe

Moldova denies it has approved Russia's Sputnik V COVID-19 shot

Sorina Stefirta told journalists that the Sputnik V vaccine would only be approved in Moldova after it had been registered by the World Health Organisation.
The Russian Direct Investment Fund and former Moldovan president Igor Dodon earlier said the shot had been approved.

Published 26 Feb, 2021 08:21pm

Stocks

India's NSE defends response to exchange's shutdown

Brokers had criticised the NSE over the lack of information after the four-hour shutdown on Wednesday.
This communication was done only after there was visibility and clarity on resumption of services and any prior communication would not have been appropriate.

Published 26 Feb, 2021 08:19pm

Sports

Relegations could mark new era of inequality in Rio soccer

Rio has long been a city marked by inequality, with stunning beaches, topography and culture, as well as grinding poverty and violence.
It is also famous for its football; home to the renowned Maracana stadium and the place where players such as Ronaldo, Romario and Zico first kicked a ball.

Published 26 Feb, 2021 08:17pm

Energy

US natgas futures slide to 4-week low on milder weather, rising output

Front-month gas futures fell 4.8 cents, or 1.7%, to $2.729 per million British thermal units.
For the week, the contract was down almost 12% after rising around 5% last week. For the month, however, it was still up about 6% after gaining 1% in January.

Published 26 Feb, 2021 08:13pm

USA

Trump's hold on Republican Party on display as conservatives gather

In his speech, Trump is expected to talk about the future of the party and lay out policy differences within a group riven by differences on the way forward in the wake of his chaotic four years in office.
The divide right now is between the 'Beltway elites' and the conservative grassroots around the country.

Published 26 Feb, 2021 08:10pm

Companies

Argentine lab says agrees deal to produce Russia's Sputnik V vaccine

Argentina was one of the first countries in the region to sign an agreement with Russia to buy Sputnik V and has already received 1.22 million doses from the Russian Gamaleya Institute.
This potential development will be carried out with the participation of Hetero Labs Limited, a laboratory established in India, with whom Laboratorios Richmond has had a strategic alliance for more than 25 years.

Published 26 Feb, 2021 08:09pm

Energy

Oil drops on dollar strength and OPEC+ supply expectations

Rout in bond markets sends yields soaring.
Market expects increased oil supply.
OPEC+ producers meet on March 4.
Brent and WTI on track for 20% monthly gain.

Published 26 Feb, 2021 08:07pm

Sports

Liverpool boss Klopp hopes Henderson will be fit for season run-in

England midfielder Henderson, who has been deputising in Liverpool's injury-ravaged defence, sustained the injury during Saturday's 2-0 home defeat by Everton in the Premier League.
"We have so many injured players who are not available at the moment and most of them are leaders in this group."

Published 26 Feb, 2021 08:05pm

Pakistan

Sindh reports 13 deaths, 322 new COVID-19 cases in past 24 hours

About 10,865 tests were conducted during the period, out of which 322 came positive.
So far 2,998,409 tests have been conducted against which 257,729 cases were diagnosed, of them 241,256 patients have recovered, including 273 overnight, added the chief minister.

Updated 26 Feb, 2021 08:07pm

Sports

Off the Liga pace, out of Europe, what has gone wrong at Benfica?

They meekly surrendered and once again went out of Europe with a whimper. With February not even up, their season looks over and pressure is mounting on coach Jorge Jesus.
Instead of keeping the faith in his young players and pushing on, Lage left and veteran coach Jesus returned to the club.

Updated 26 Feb, 2021 08:07pm

Companies

Volkswagen sees strong rebound after 'containing' COVID

Sales, deliveries to recover significantly in 2021.
Eyes upper end of 5.0-6.5% margin target.
Shares hit fresh 13-month high.

Published 26 Feb, 2021 08:01pm

Financial

Euro zone bond yields set for biggest monthly rise in three years

Euro zone yields fall, follow US Treasuries lower.
German 10-year yield has shot up 25 bps in February.
Analysts say ECB intervention likely if yields rise further.

Published 26 Feb, 2021 07:34pm

Business & Finance

Pakistan remains committed towards completion of FATF Action Plan, says Azhar

Azhar said that FATF is itself admitting that Pakistan has completed 90pc of its Action Plan target.

Updated 26 Feb, 2021 07:36pm

Forex

Sterling knocked back by bond rout and inflation fears

After rising above $1.42 for the first time in three years earlier this week, the pound fell to $1.3890.
Versus the euro, the pound fell 0.1% 87.03, after hitting a 10-day low of 87.30 pence in earlier trading..

Published 26 Feb, 2021 07:31pm

Europe

UK vaccine committee advises COVID-19 shot rollout should continue by age

Britain's vaccine rollout has been among the fastest in the world, meeting a government target to offer vaccines to 15 million high-risk people by mid-February.
"We know the age based programme is simple and works very well, and therefore, it seems sensible to continue with that, keeping an eye on speed."

Published 26 Feb, 2021 07:27pm

Asia

Iran threatens to end deal with IAEA over U.S.-led push to criticize it

Iran and U.S. President Joe Biden’s administration are now locked in a standoff over who should move first to save the unravelling 2015 deal. Tehran says Washington should lift sanctions first.
“Iran perceives this move as destructive and considers it as an end to the Joint Understanding of 21 February 2021 between the Agency and the Islamic Republic of Iran.”

Published 26 Feb, 2021 07:24pm

Money & Banking

Tech and financials boost $46.2bn flows into global equity funds: BofA

The data, collected by EPFR before a rise in US real-yields triggered a global stock market correction on Thursday, also showed bond funds attracted $7.1 billion in a 16th straight week of inflows and Treasury Inflation-Protected Securities (TIPS) added $1.3 billion.
Meanwhile investors pulled $5.5 billion out of cash and withdrew $500 million from gold funds.

Published 26 Feb, 2021 07:26pm

South Asia

China will extend tariff exemptions for 65 US products

The extension, effective on Feb. 28, will last until Sept. 16, 2021, the ministry said. The products received exemptions from retaliatory tariffs imposed by China on US goods.

Published 26 Feb, 2021 07:18pm

Pakistan

Terrorist commander involved in killings of 50 security officials gunned down: ISPR

The raid was conducted in Tayyarza area of South Waziristan, where security forces killed a terrorist commander identified as Nooristan Ilyas Hassan Baba, ISPR said.
He was a master of making IEDs and was training the terrorists in the area.

Updated 26 Feb, 2021 07:26pm

Forex

Turkish lira erases year's gains after bond rout

The lira fell as far as 7.4780 to the dollar and traded at 7.4450 . *Ten-year US Treasury yields have jumped by the most this month since 2016.

Published 26 Feb, 2021 07:23pm

Money & Banking

Indian banks' loans rose 6.6pc y/y in two weeks to Feb 12

Outstanding loans fell 10.44 billion rupees ($141.30 million) to 107.04 trillion rupees in the two weeks to Feb. 12.
Non-food credit rose 107.78 billion rupees to 106.28 trillion rupees, while food credit fell 118.22 billion rupees to 752.87 billion rupees.

Published 26 Feb, 2021 07:15pm

Stocks

Moscow Exchange to woo Asian investors with early trading

The Moscow Exchange will start trading foreign currency, gold and derivatives three hours earlier from March 1, opening at 0400 GMT and extending its trading day to 17 hours to cover more time zones and boost liquidity.
"We aim at investors from Southeast Asia, primarily from India, Singapore, Hong Kong, where there is demand for rouble instruments," said Igor Marich, MOEX's managing director for sales and business development.

Published 26 Feb, 2021 07:15pm

Business & Finance

Pakistan signs LNG agreement with Qatar, deal to save $300mn annually: PM

He said it took the government three years to negotiate this agreement which will help save $300 million annually.

Updated 26 Feb, 2021 07:14pm

Europe

Hungary may have to tighten lockdown as COVID cases jump, PM says

Orban also said all the 2.5 million to 2.6 million Hungarians who have registered for COVID-19 vaccinations so far would receive at least one dose by Easter, in early April.
Orban, speaking on state radio, said he hoped to get vaccinated with a shot developed by China's Sinopharm early next week.

Published 26 Feb, 2021 07:09pm

Commodities

Copper spirals lower as bond rout spooks investors

Three-month copper on the London Metal Exchange (LME) had slumped 3.2% to $9,112 a tonne .
On Thursday, LME copper hit its highest since August 2011 at $9,617 a tonne, 5.6% short if its record high of $10,190 in February 2011.

Published 26 Feb, 2021 07:07pm

Europe

G20 should not withdraw fiscal support too early

"We must not scale back the support programs too early and too quickly," Scholz said ahead of a virtual meeting of finance ministers and central bank governors of the world's top 20 economies, adding he would campaign with his G20 colleagues for continued stimulus.

Published 26 Feb, 2021 07:06pm

Europe

Take 'fantastic' AstraZeneca vaccine, top officials tell Germans

German officials have expressed growing disquiet over the quantities of the AstraZeneca vaccine being left untaken by nervous Germans.
"We strongly recommend it: this vaccine is safe and effective, it protects," Health Minister Jens Spahn told a news conference.

Published 26 Feb, 2021 07:04pm

USA

Chile says November to January jobless rate 10.2pc

Unemployment in Chile, the world's top copper producer, hit a decade-long high of 13.1% in July, during the peak of the pandemic. The jobless rate during the October to December period was 10.3%.

Published 26 Feb, 2021 07:03pm

South Asia

Myanmar police fire into air to disperse protests as Suu Kyi's lawyer says access denied

Police confront protesters in Yangon, other places.
Lawyer says he has not been able to meet Suu Kyi.
New election commission annuls November vote; NLD objects.

Published 26 Feb, 2021 07:00pm

Companies

Shell in Germany seeks to speed up drive to go green

Aims to produce clean aviation fuel, naphtha.
To scale up 10 MW electrolysis at Wesseling to 100 MW.
Eyes several hundred million euros a year of spending.
To create carbon-free delivery chains for transport fuel.
Ties in with moves into electricity market.

Published 26 Feb, 2021 06:58pm

Companies

Cellnex to spend up 9 bln euros as it aims to triple earnings

Cellnex announced a 1.6 billion euro deal with Poland's Cyfrowy Polsat to take over Polkomtel Infrastrukture, which manages around 7,000 masts. It earlier did a deal with Poland's Iliad.
He added his goal is to consolidate Cellnex's presence in countries where it already operates, especially those where it only has one client, such as Austria, Sweden and Denmark.

Published 26 Feb, 2021 06:56pm

Business & Finance

South Africa's trade surplus narrows to $790 million in January

Exports fell 13.6% on a month-on-month basis to 109.76 billion rand, while imports rose 4.2% to 97.93 billion rand, the South African Revenue Service said.

Published 26 Feb, 2021 06:54pm

Europe

Britain's Prince Philip to spend second weekend in hospital

The 99-year-old husband of Britain's Queen Elizabeth was admitted to London's private King Edward VII Hospital on Feb. 16 after feeling unwell, with Buckingham Palace saying he is comfortable and responding to treatment.

Published 26 Feb, 2021 06:53pm

Sports

Grealish will miss Villa's trip to Leeds

"Jack won't be available for the game," Smith told reporters. "The latest is he's still got a little bit of pain, not too much.
"Jack doesn't know and the doctor doesn't know how long this will be. It's not long term. He could be back for Sheffield United on Wednesday or Wolves next week, that's how the injury is. We'll be led by Jack on that."

Published 26 Feb, 2021 06:50pm

Stocks

Futures fall as tech stocks slide again

Futures down: Dow 0.6%, S&P 0.4%, Nasdaq 0.7%.
Shares of Apple Inc, Amazon.com Inc, Microsoft Corp, Alphabet Inc, Facebook Inc and Netflix Inc were down between 0.6% and 0.9% before the bell.

Published 26 Feb, 2021 06:48pm

Africa

Ivory Coast becomes second country to receive COVAX vaccines

A plane carrying 504,000 doses touched down in the commercial capital Abidjan, paving the way for the West African nation to launch a vaccination campaign.
You want to make sure that the right regulatory approval, the right cold storage is there and everything else, otherwise you risk having things not work.

Published 26 Feb, 2021 06:44pm

South Asia

Indians allowed to choose vaccination sites as govt seeks faster roll-out

Choice to effectively let people decide on shots.
About 11.5 million health, front-line workers immunised.
Elderly, people with medical condition to get shots from Monday.

Published 26 Feb, 2021 06:42pm

Commodities

Japan futures tumble, but books 17pc gain for February

Osaka Exchange's rubber contract for August delivery finished 14.1 yen, or 4.9%, lower at 275.9 yen ($2.6) per kg. But it booked a 4% gain for the week and a 17% jump for the month.
The rubber contract on the Shanghai futures exchange for May delivery also tanked 945 yuan to finish at 15,990 yuan ($2,475) per tonne.

Published 26 Feb, 2021 06:36pm

Companies

US to buy at least 100,000 doses of Lilly's COVID-19 antibody therapy

The US government will have the option to purchase up to an additional 1.1 million doses through Nov. 25, the company said.
United States had already agreed to buy 1.45 million doses of bamlanivimab alone, Lilly said.

Published 26 Feb, 2021 06:33pm

World

China will extend tariff exemptions for 65 U.S. products

The extension, effective on Feb. 28, will last until Sept. 16, 2021, the ministry said.
The products received exemptions from retaliatory tariffs imposed by China on U.S. goods.

Updated 26 Feb, 2021 06:35pm

Europe

London could lose out to New York under draft EU finance deal: document

Britain's financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as the sector is not covered by the UK-EU trade deal.
Trading in EU shares and derivatives, for example, has already left Britain for continental Europe.

Published 26 Feb, 2021 06:31pm

Middle East

UN human rights boss urges Saudi Arabia to allow free speech, assembly

Hathloul campaigned for women's right to drive and to end Saudi Arabia's guardianship system that requires women to obtain permission of a male relative for certain decisions and travel.
Bachelet did not refer to the expected release by the Biden administration of a sensitive US intelligence report on the 2018 murder of Saudi journalist Jamal Khashoggi.

Published 26 Feb, 2021 06:29pm

Financial

UK gilt yields close to biggest calendar-month rise since 2009

Ten-year gilt yields rose to 0.835%, 4 basis points up on the day, after Bank of England Chief Economist Andy Haldane warned that an inflationary "tiger" might be on the loose which could require more BoE action than markets expect.
Five-year gilt yields also rose to their highest since March 2020 at 0.413% and their spread over German five-year bonds widened above 93 basis points , also the widest since March 2020.

Published 26 Feb, 2021 06:27pm

Financial

US yields soften after vaulting to one-year highs; sentiment wary

Benchmark 10-year US borrowing costs rose to their highest in a year at 1.614% overnight, rocking stock markets. Yields are up more than 70 basis points so far this year.
We have potentially strong US data to come later today and rates, credit and equities market are all vulnerable to more correction lower in price on upside economic surprises.

Published 26 Feb, 2021 06:26pm

Europe

Financier Staveley loses Barclays lawsuit over 2008 fundraising

Judge David Waksman said on Friday that the claim of Staveley's PCP Capital Partners group, which has claimed damages of around 836 million pounds ($1.16 billion), "as a whole must fail".

Published 26 Feb, 2021 06:24pm

USA

Brazil's BRF says US SEC has concluded inquiry into corruption probes

The SEC did not impose any sanction on the company, BRF said in a securities filing.
BRF continues to cooperate with the US Department of Justice on the matter, it said.

Published 26 Feb, 2021 06:22pm

Forex

Bond selloff boosts dollar, risk currencies knocked lower

Aussie, Kiwi fall more than 1%.
Pound knocked below $1.39.
Bitcoin slips 5%.

Published 26 Feb, 2021 06:20pm

Sports

West Ham's Moyes uneasy over return of fans for final day of season

Crowds of up to 10,000 could be allowed into soccer stadiums from May 17 if conditions are met under the British government's plan announced this week to ease COVID-19 lockdown restrictions in England.
Moyes said return of fans would be "fantastic" but the current season should be completed behind closed doors.

Published 26 Feb, 2021 06:18pm

Stocks

GameStop shares climb in early deals, on track for second best week

Options market activity in the stock, which has returned to the top of the list in a social media-driven retail trading frenzy, suggested investors were betting on higher prices or higher volatility, or both.
GameStop shares touched $120.60 and were on track to nearly triple this week in an equity market where falling bond prices have weakened general investor sentiment towards US stocks.

Published 26 Feb, 2021 06:15pm

Forex

Bitcoin set for worst week since March as riskier assets sold off

The world's biggest cryptocurrency slipped as much as 6% to $44,451 before recovering most of its losses.
The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5%, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.

Published 26 Feb, 2021 06:13pm

Europe

Portugal PM says hopes EU vaccine passport will be in place by summer

We are defendants of a measure on European scale, and it is with this objective that we work as presidents with the European Commission.
The hope we all have is that by the summer it will be possible for this document to exist.

Published 26 Feb, 2021 06:12pm

USA

Brazil unemployment rate falls to 13.9pc in quarter through December

The average unemployment rate last year was 13.5%, IBGE said, up from 11.9% the year before and the highest since the series began eight years ago.
The IBGE figures showed 86.2 million Brazilians had work, up 4.5%, or 3.7 million people, from the July-September period, although still down 8.9%, or 8.4 million people, from the same period a year earlier.

Published 26 Feb, 2021 06:05pm

Money & Banking

Bank of England's Haldane warns inflation ‘tiger’ is prowling

People are right to caution about the risks of central banks acting too conservatively by tightening policy prematurely.
"There is a tangible risk inflation proves more difficult to tame, requiring monetary policymakers to act more assertively than is currently priced into financial markets," Haldane said.

Published 26 Feb, 2021 06:09pm

Companies

Indian Oil plans $4.5bn Panipat refinery expansion by Sept 2024

Along with expanding capacity, IOC will install catalytic dewaxing and polypropylene units at its Panipat refinery in northern Punjab state.
IOC said expansion of the refinery would raise production of petrochemicals and value-added specialty products to improve its margins and help "de-risk the conventional fuel business of the company".

Published 26 Feb, 2021 06:02pm

USA

Brazil public sector debt rises to record 89.7pc of GDP in January

The public sector surplus excluding interest payments of 58.4 billion reais was more than the 50 billion reais surplus forecast in a Reuters poll of economists, and the overall deficit in the 12 months through January was worth 9.4% of gross domestic product.

Published 26 Feb, 2021 05:58pm

Sports

India's double World Cup winner Yusuf Pathan retires

The big-hitting 38-year-old played 57 one-dayers and 22 Twenty20 Internationals for India after beginning his career in the shadow of younger brother and test bowler Irfan Pathan.
"The time has come today for me to put a full stop to this innings of my life," Yusuf said.

Published 26 Feb, 2021 05:54pm

Stocks

Indian shares sink ahead of GDP data; financials, ONGC weigh

The blue-chip NSE Nifty 50 index shed 3.76% to close at 14,529.15, while the benchmark S&P BSE Sensex ended 3.80% lower at 49,099.99.
Panic in global bond markets led to sharp rise in yields which spooked investors...the market correction might continue for some time till inflation fears ease down.

Published 26 Feb, 2021 05:49pm

Energy

Oil drops on dollar strength and OPEC+ supply expectations

Rout in bond markets sends yields soaring.
Market expects increased oil supply.
OPEC+ producers meet on March 4.
Brent and WTI on track for 20% monthly gain.

Published 26 Feb, 2021 05:49pm

Pakistan

Punjab govt issues list of districts where students will go to school on alternate days

The notification read that districts that have a higher COVID-19 positivity ratio, such as more than 20 cases in the last 24 hours, will be subject to this rule.
The districts with such positivity rates are reported to be Lahore, Gujrat, Multan, Rahim Yar Khan, Sialkot, Rawalpindi and Faisalabad.

Updated 26 Feb, 2021 05:49pm

South Asia

IPRI hosts distinguished lecture series on Afghan Peace Process

On Friday, the Islamabad Policy Research Institute (IPRI) hosted the distinguished lecture series on the "Afghan Peace Process: The Contours, Implementation, and Contemporary Status” by Pakistan’s Ambassador to Afghanistan, Mansoor Ahmad Khan.
While discussing the dynamics of the Afghan Peace Process, Ambassador Mansoor Ahmad Khan noted that there are three parties to ensure a durable peace process in Afghanistan, which include the United States, the Taliban and the Afghan Republic.

Updated 26 Feb, 2021 05:07pm

Technology

Nissan makes breakthrough with engine in reducing CO2 emissions

The development would improve fuel consumption by 25% over the 40% thermal efficiency level in the upcoming e-POWER engine, the company said.
Toshihiro Hirai told reporters that the automaker is maximising the thermal efficiency of e-POWER in order to reduce CO2 emissions while driving.

Updated 26 Feb, 2021 05:07pm

Business & Finance

Major hike in POL rates in the offing

According to details, OGRA has proposed an increase in the price of petrol by Rs 20.7 per liter, a summary of which has been sent to the Petroleum Division.

Published 26 Feb, 2021 04:09pm

World

Pfizer COVID-19 vaccine reduces transmission after one dose - UK study

“Our findings show a dramatic reduction in the rate of positive screening tests among asymptomatic healthcare workers after a single dose of the Pfizer-BioNTech vaccine,” said Nick Jones, an infectious diseases specialist at Cambridge University Hospital, who co-led the study.

Published 26 Feb, 2021 04:17pm

USA

FDA says single-dose shot from J&J prevents severe COVID

According to an analysis released by U.S regulators, Johnson & Johnson's single-dose vaccine against severe cases of the coronavirus - as the long-anticipated shot could offer the nation a third option to help speed vaccinations by requiring a single dose, rather than two.

Updated 26 Feb, 2021 04:18pm

World

Israel says half its population has received one dose of COVID-19 vaccine

Prime Minister Benjamin Netanyahu aims to vaccinate all Israelis over the age of 16 by the end of March.

Published 26 Feb, 2021 04:14pm

Pakistan

ECP issues final list of Senate candidates from Islamabad

The Senate election will be held on March 3.
Abdul Hafeez Sheikh and Syed Yousaf Raza Gilani are vying for a general seat from Islamabad, while Fauzia Arshad and Farzana Kausar are in the run for a reserved seat for women.

Updated 26 Feb, 2021 04:01pm

Industry

Daewoo, Skywell & Hitachi ABB partner to introduce electric buses in Pakistan

Pakistan's Daewoo Express Pakistan, China's Skywell Automobiles and Sweden's Hitachi ABB Power Grids signed a Memorandum of Understanding (MoU) on Thursday to revolutionize Pakistan's transport sector.

Updated 26 Feb, 2021 03:58pm

Middle East

Israel in talks to establish 4-nation defense alliance with Saudi, UAE and Bahrain

Jerusalem is reportedly in talks with the Kingdom(s) of Saudi Arabia, Bahrain and the United Arab Emirates, in attempting to establish a quadrilateral defense alliance.
While Jerusalem does not have official diplomatic relations with Riyadh, the countries have long-standing clandestine ties.

Updated 26 Feb, 2021 03:11pm

Stocks

Tokyo's Nikkei ends down 4 percent after US rout

Sony fell 3.89 percent to 11,120 yen. Tokyo Electron, the world's third-largest producer of tools to produce semiconductors, fell 4.70 percent to 43,550 yen.

Published 26 Feb, 2021 02:43pm

Companies

Boeing 777 with engine trouble makes emergency landing in Moscow

The incident came just days after Boeing confirmed that dozens of its 777 aircraft were grounded globally resulting from the engine of a United Airlines plane catching fire and scattering debris over a suburb of Denver, Colorado.

Published 26 Feb, 2021 02:38pm

Sports

Dunk gives Pakistan security vote of confidence for Australia tour

Australia are scheduled to tour Pakistan for two Tests, three ODIs and as many T20Is in what will be their first tour to Pakistan since 1998.
“The security around the hotel, to and for the games is simply amazing. I think it would be awesome for the people of Pakistan to have the Australian team touring here.”

Updated 26 Feb, 2021 02:41pm

Companies

Virus-hit airline giant IAG dives to 6.9-bn-euro loss

"The group continues to reduce its cost base and increase the proportion of variable costs to better match market demand," said Gallego.

Published 26 Feb, 2021 02:36pm

World

New mass kidnapping at Nigeria school, hundreds missing: teacher

"More than 300 girls are unaccounted for after a head count of remaining students," Sadi Kawaye said.

Published 26 Feb, 2021 02:33pm

Stocks

European stocks sink at open

London's benchmark FTSE 100 index of major blue-chip companies fell 1.2 percent to 6,570.36 points.

Published 26 Feb, 2021 02:29pm

Technology

Singapore based video content platform continues to gain traction in Pakistan

“We are thrilled to be among the top most downloaded applications in Pakistan,” said a spokesperson from Likee.

Published 26 Feb, 2021 02:22pm

Sports

Cricketer Umar Akmal's 18-month ban reduced to one year

But his career has been bridled by disciplinary problems, including an arrest after scuffling with a traffic warden in 2014.

Published 26 Feb, 2021 02:19pm

Stocks

China, Hong Kong stocks drop over 2% as bond yields surge

"This week does not necessarily mark the end of the rally. New fund flows from retail investors could continue for a while," said Thomas Gatley, China corporate analyst at Gavekal.

Updated 26 Feb, 2021 02:19pm

Pakistan

PPP will be the largest party in Senate: Asif Zardari

“PPP's elected MPs are my strength. I am proud of my party members, the incumbent government has to go," says Asif Zardari. Sindh Chief Minister Murad Ali Shah and Sindh Assembly Speaker Agha Siraj Durrani were present in the dinner hosted by Bilawal Bhutto Zardari.

Published 26 Feb, 2021 02:00pm

Pakistan

PM thanks Sri Lankan leadership for allowing burial of COVID-19 victims

"I thank the Sri Lankan leadership & welcome the Sri Lankan govt's official notification allowing the burial option for those dying of Covid 19," the PM tweeted.
Sri Lanka lifted the controversial ban which it had imposed last year saying that the bodies of COVID-19 victims could only be cremated as the virus could spread by contaminating groundwater.

Updated 26 Feb, 2021 02:03pm

Pakistan

SC bars CDA from demolishing lawyers' chambers in Islamabad

The SC accepted the petition filed by the Islamabad Bar Council and has barred the CDA from demolishing the chambers till March 2.
The SC also issued notices to the attorney-general and advocate-general.

Published 26 Feb, 2021 01:41pm

BR Research

Interview with Danial Malik, CEO Master Changan Motors

“EV policy should provide uniform incentives for all batteries” The automobile industry is going through...

Updated 26 Feb, 2021 12:44pm

Forex

Yuan hits one-month low, set to snap eight months of gains

"A clear action plan on the top priorities would be more important for the market to evaluate the impact on industries and the whole economy," said Iris Pang, Greater China economist at ING.

Published 26 Feb, 2021 12:30pm

Stocks

Indian shares slump ahead of GDP data; HDFC Bank top drag

In Mumbai, a two-session rally in financial stocks was set to end, with the Nifty private bank index and the Nifty PSU bank index falling 2.9% and 2.5%, respectively.

Published 26 Feb, 2021 12:28pm

World

Japan's jobless rate seen up in January due to COVID-19 emergency measures

"So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon."

Published 26 Feb, 2021 12:26pm

Forex

Turkish lira dips, erasing gains against dollar this year

The lira had rallied 20% since November when the finance minister and central bank governor were replaced and President Tayyip Erdogan pledged a new market-friendly economic era.

Published 26 Feb, 2021 12:25pm

World

Germany's confirmed coronavirus cases rise by 9,997

The reported death toll rose by 394 to 69,519, the tally showed.

Published 26 Feb, 2021 12:22pm

Commodities

Palm oil eases from six-week highs, set for 7% monthly gain

Dalian's most-active soyoil contract was unchanged, while its palm oil contract gained 0.3%. Soyoil prices on the Chicago Board of Trade were down 0.8%.

Published 26 Feb, 2021 12:20pm

Energy

Oil prices drop amid US dollar strength, expectations for supply gains

"The market's probably right to think at this price level and given what the fundamentals are doing, there'll be more supply coming into the market over time."

Published 26 Feb, 2021 12:17pm

Financial

As yields creep up, BOJ's Kuroda calls for 'stably low' rates

Kuroda said the BOJ will look at ways to make its policy framework more flexible and effective. As part of such efforts, it will conduct an analysis on why prices failed to sufficiently pick up, he said.

Published 26 Feb, 2021 12:15pm

Companies

Lafargeholcim sees strong demand momentum in 2021

The Swiss company said recurring operating profit rose 14.1% like-for-like to 1.037 billion Swiss francs.

Published 26 Feb, 2021 12:12pm

Companies

Toyota develops fuel cell system to cut carbon footprint

These module models can be combined to flexibly adapt to the output level and amount of installation space available.

Published 26 Feb, 2021 12:09pm

Commodities

Copper slips; set for best monthly gain since 2016 on tight supply, demand hopes

"However, we believe that base metal prices will soon peak and ease later in the year.

Published 26 Feb, 2021 12:07pm

Commodities

CBOT soybeans may drop into $13.62-1/4 to $13.78-1/4 range

The current drop could be against the rise from $8.79. It may extend to $13.63.

Published 26 Feb, 2021 11:53am

Financial

South Africa's January credit growth slows to 3.26% y/y

Expansion in the broadly defined M3 measure of money supply also fell, to 9.15% in January from 9.48% the previous month.

Published 26 Feb, 2021 11:52am

Financial

ECB watching yields but not controlling curve: Lane

"At this stage, an excessive tightening in yields would be inconsistent with fighting the pandemic shock to the inflation path," he told Expansión in an interview.

Published 26 Feb, 2021 11:51am

Stocks

Asian markets roiled by global bond whiplash

However, analysts at ANZ were more bullish on the outlook.

Published 26 Feb, 2021 11:49am

Stocks

European stock futures slide over 1% as surging bond yields roil equity markets

Euro Stoxx 50 futures were down 1.6% by 0606 GMT, while FTSE futures and DAX futures lost 1.2% and 1.3%, respectively.

Published 26 Feb, 2021 11:47am

Pakistan

UN welcomes Pakistan, India's 'positive step' on LoC ceasefire

"The UN Secretary-General Antonio Guterres is encouraged by the joint statement issued by the militaries of India and Pakistan on their agreement to observing the ceasefire at the Line of Control in Kashmir and engaging through established mechanisms," a statement said.
The President of the UN General Assembly, Volkan Bozkir, also welcomed the agreement between Pakistan and India, saying that this accord has set an example for others and demonstrates the General Assembly's value.

Published 26 Feb, 2021 11:47am

Business & Finance

As online banking rise in Pakistan so too customer complaints

It was learnt that the Banking Ombudsman received 15,600 complaints in 2019 but the number of complaints reached 25,500 in 2020 which shows an increase of 63 percent in one year.

Published 26 Feb, 2021 11:45am

Stocks

Australian shares tumble as firmer bond yields, fall in tech stocks weigh

Miners fell 2.1% despite higher metal prices, with BHP Group and Fortescue Metals Group shedding 2.6% and 4.5%, respectively.

Published 26 Feb, 2021 11:46am

Companies

Deutsche Telekom guides for growth in 2021 after Q4 beat

On a reported basis, fourth quarter revenue rose 29.3% to 27.6 billion euros, ahead of expectations in a company poll of analysts of 27.2 billion euros.

Published 26 Feb, 2021 11:44am

Energy

Chinese refiners cool on crude purchases as oil futures rally

The run rate at independent refineries is expected to fall below 70% in April, from around 74% presently, JLC analyst Zhou Guoxia said.

Published 26 Feb, 2021 11:42am

World

India, China foreign ministers have highest-level contact since border deal

The two ministers agreed to remain in touch and establish a hotline, New Delhi said.

Published 26 Feb, 2021 11:39am

Companies

Norwegian Air says restructuring progressing as planned

The budget airline was late last year given protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge from the process with fewer aircraft and less debt.

Published 26 Feb, 2021 11:38am

Commodities

Asia Grains-Australia wheat prices rise further on higher freight costs

Australian standard wheat is being offered at $314 a tonne, C&F, while Australian hard wheat is around $325 a tonne.

Published 26 Feb, 2021 11:33am

World

Queen says Covid jab 'didn't hurt' as she urges take-up

Prince Philip, 99, is currently in hospital where he is being treated for an unspecified infection, although it is not coronavirus related.

Published 26 Feb, 2021 11:31am

World

US approves Pfizer vaccine storage at normal freezer temperature

The mRNA molecules are encased in particles of fat to protect them, but they still degrade more quickly than traditional vaccines and so require stricter storage measures.

Published 26 Feb, 2021 11:29am

World

Biden, Saudi king talk by phone: White House

They discussed "the US commitment to help Saudi Arabia defend its territory as it faces attacks from Iranian-aligned groups," a statement said.

Published 26 Feb, 2021 11:21am

World

US welcomes Pakistan, India's joint statement on LoC ceasefire; urges two countries to hold direct talks on Kashmir

We encourage continued efforts to improve communication between the two sides and to reduce tensions and violence along the LoC, US State Department Spokesman Ned Price said.
"Pakistan is an important partner with whom we share many interests," the spokesman said.

Updated 26 Feb, 2021 11:25am

Sports

O'Sullivan salutes 52-year-old Hendry as snooker 'game-changer' returns

The 29-year-old compiled two centuries as he cruised into the semi-finals with a 6-2 win over Neil Robertson.

Published 26 Feb, 2021 11:19am

Sports

Kohli hails India's new 'lethal' spin king Patel

With his whippy action, Patel is often jokingly compared to the Pakistan left-arm quick Wasim Akram by teammates.

Published 26 Feb, 2021 11:16am

World

Eritrean troops killed 'hundreds' in Ethiopia massacre: Amnesty

The presence of Eritrean troops in Ethiopia is widely documented but has been denied by Addis Ababa and Asmara.

Published 26 Feb, 2021 11:14am

Stocks

Tokyo's Nikkei down more than 3.0% after US rout

Its rivals were also lower, with Honda trading down 1.64 percent at 2,976.5 yen and Nissan off 1.33 percent at 578.2 yen.

Published 26 Feb, 2021 11:12am

Sports

Tommy Gainey grabs first round lead at Puerto Rico Open

European Ryder Cup captain Padraig Harrington shot 70. Ian Poulter, the top-ranked player in the field at 59th, opened with a 71.

Published 26 Feb, 2021 11:10am

Stocks

Hong Kong shares plunge at open

The Hang Seng Index fell 2.20 percent, or 662.04 points, to 29,412.13.

Published 26 Feb, 2021 11:08am

World

UN adds name to list of sanctioned Yemenis

The Security Council also stressed the need for UN experts to have access as quickly as possible to the long-abandoned fuel tanker, the FSO Safer, off the coast of Hodeida in the west, an area under Huthi control.

Published 26 Feb, 2021 11:07am

World

US expert panel to vote on Johnson & Johnson Covid vaccine

Those cells then produce that protein, which in turn trains the human immune system should it encounter the real virus.

Published 26 Feb, 2021 11:04am

World

G20 finance chiefs to talk Covid recovery, aid to poor countries

But "it is going to be a long and uncertain ascent", Georgieva said.

Published 26 Feb, 2021 11:03am

World

US, EU say vaccine programs on track as global deaths hit 2.5mn

Some sex workers in Bangladesh's largest brothel started getting their vaccines, a health official said Thursday.

Published 26 Feb, 2021 10:56am

World

Biden urges swift passage of Covid aid after minimum wage setback

"He urges Congress to move quickly to pass the (bill), which includes $1400 rescue checks for most Americans" and other funding to help control and end the pandemic.

Published 26 Feb, 2021 10:45am

World

Greek PM hits back at sex scandal cover-up claims

The government has promised to introduce a new ethics code to prevent future abuse cases.

Published 26 Feb, 2021 10:43am

World

EU leaders debate push to boost defences

The alliance with North America, which includes 21 EU members, has been the bedrock for European security since it was founded over seven decades ago to confront the Soviet Union.

Published 26 Feb, 2021 10:40am

Sports

Tiger Woods transferred to Los Angeles hospital for further treatment

He was found conscious, appearing "calm and lucid" and able to identify himself as "Tiger," Deputy Carlos Gonzalez said Tuesday.

Published 26 Feb, 2021 10:38am

Sports

Knives out for Australia's Finch after New Zealand loss

"If you can't be inspired by Pat Cummins no one is going to inspire you."

Published 26 Feb, 2021 10:36am

World

17 pro-Iran fighters killed in US strikes in Syria

The strikes destroyed three lorries carrying munitions.

Published 26 Feb, 2021 10:33am

Sports

Kiwi Ko leads Gainbridge event, Sorenstam opens with 75

The 10-time major winner Sorenstam shot a 75, the same score she recorded in her last round played in 2008 at the ADT Championship.

Published 26 Feb, 2021 10:31am

World

Senate ruling sinks US minimum wage hike in Covid aid bill

Most Americans support a minimum wage hike, Sanders said.

Published 26 Feb, 2021 10:29am

Business & Finance

Pakistan has completed 90pc of its FATF Action Plan: Hammad

The minister who also leads the Pakistani delegation at the FATF, in a series of tweets said Pakistan completed with 24 out of 27 items rated as largely addressed and remaining three items partially addressed.

Published 26 Feb, 2021 10:26am

Sports

Garbisi urges Italy to seize day against Ireland and avoid 30th straight loss

But Farrell is taking nothing for granted having made seven changes including an all-new front row after a 15-13 defeat by France followed a 21-16 loss to Wales.

Published 26 Feb, 2021 10:22am

World

Biden, Saudi king speak ahead of Khashoggi murder report

*A respected veteran journalist and editor, Khashoggi was in self-exile and residing in the United States, writing articles critical of the crown prince when he was assassinated on October 2, 2018.

Published 26 Feb, 2021 10:19am

World

UK Supreme Court to rule on return of 'IS bride' Begum

Begum claims she married a Dutch convert soon after arriving in IS-held territory. She was discovered, nine months pregnant, in a Syrian refugee camp in February 2019.

Published 26 Feb, 2021 10:17am

Technology

Twitter considers charging users for special content, in revenue push

App makers are concerned that the labels will discourage users from allowing collection of data used to more effectively target ads.

Published 26 Feb, 2021 10:13am

Stocks

Asia markets tumble as rate hike fears take hold

And Silvia Dall'Angelo at fund manager Federated Hermes added: "Central banks' liquidity will continue to flow abundantly throughout 2021 at least, yet it's unclear whether markets can ever get enough of it."

Published 26 Feb, 2021 10:11am

World

US strikes 'Iranian-backed militant' site in Syria: Pentagon

He was killed in a US drone strike just as he arrived in Baghdad for meetings with top Iraqi officials.

Published 26 Feb, 2021 10:10am

World

EU declares Venezuela envoy persona non grata

This came two days after EU foreign ministers agreed to sanction 19 Venezuelan officials for "undermining democracy".

Published 26 Feb, 2021 10:06am

Stocks

Hong Kong stocks hammered in morning session

The Hang Seng Index dived 2.43 percent, or 731.68 points, to 29,342.49.

Published 26 Feb, 2021 10:00am

Energy

US oil still targets $64.15-$65.29 range

A doji formed on Thursday. It will only be regarded as a bearish reversal signal if a black candlestick appears on Friday.

Published 26 Feb, 2021 09:58am

Commodities

Palm oil may test resistance at 3,834 ringgit

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

Published 26 Feb, 2021 09:57am

Energy

Brent oil still targets $68.07-$68.56 range

A fall to $65.35 could signal the break above $66.29 was false, and a bearish target zone of $59.08-$62.14 will be established then.

Published 26 Feb, 2021 09:55am

Bullion Rate

Spot gold may fall towards $1,726

Resistance is at $1,783, a break above which could lead to a gain to $1,801. On the daily chart, gold is retesting a support at $1,769, the 61.8% projection level of a downward wave C from $1,959.01.

Published 26 Feb, 2021 09:54am

Bullion Rate

Gold heads for second monthly decline as US yields rally

Silver eased 0.2% to $27.34 an ounce, but was poised for a third straight monthly rise, while palladium climbed 0.8% to $2,420.68 and was set to register its best month in a year with a more than 8% gain.

Published 26 Feb, 2021 09:51am

World

China reports 6 new COVID-19 cases vs 7 a day earlier

The number of new asymptomatic cases, which China does not classify as confirmed cases, fell to six from nine cases a day earlier.

Published 26 Feb, 2021 09:49am

Forex

Australian dollar upset by market tumult, RBA tries to staunch bond bleeding

That left the currency flat at $0.7860, from a top of $0.8007, having shed 1.2% late on Thursday. It also wiped out the week's gains and put pressure on support around $0.7820.

Published 26 Feb, 2021 09:47am

Forex

Dollar firms after US yield spike; yen continues march lower

The Australian dollar continued its retreat after topping $0.80 on Thursday for the first time since February of 2018, declining 0.2% to 0.78525.

Published 26 Feb, 2021 09:46am

Stocks

Australia, NZ shares tumble after Wall Street tech rout

Shares of Lynas Rare Earths, however, gained 2.6% after reporting a better-than-expected profit for the half year, as prices of rare earths like neodymium and praseodymium (NdPr) rose.

Published 26 Feb, 2021 09:44am

Stocks

Australia shares set to open lower; NZ falls

The benchmark closed 0.9% higher on Thursday.

Published 26 Feb, 2021 09:42am

World

Japan hopes to end state of emergency for 6 prefectures this month

Japan has recorded about 426,000 coronavirus cases and 7,645 deaths as of Feb. 24, according to the health ministry.

Published 26 Feb, 2021 09:40am

Companies

Australia lifts ban on Boeing 737 MAX, first in Asia-Pacific region

Boeing said on Friday it was working with regulators and customers to return the 737 MAX to service safely worldwide.

Published 26 Feb, 2021 09:37am

Sports

Ancelotti keen to be at Everton when new stadium opens Soccer

"To finish the contract here in 2024 means that you did a good job, and when you do a good job the contract will not be stopped in 2024."

Published 26 Feb, 2021 09:32am

World

Xi boasts of Chinese ‘miracle’ in tackling poverty

BEIJING: Chinese President Xi Jinping on Thursday declared his country had achieved the “human miracle” of...

Updated 26 Feb, 2021 09:32am

World

Yellen urges G20 to ‘go big’ with pandemic stimulus

WASHINGTON: The world’s most advanced nations must work in unison both to continue spending to boost the pandemic...

Updated 26 Feb, 2021 09:32am

Europe

Driverless bus hits streets of Malaga

MÁLAGA, (Spain): A new driverless electric bus has begun operating in the southern Spanish city of Malaga, in a...

Updated 26 Feb, 2021 09:32am

Europe

Covid blamed for biggest drop in French births in 45 years

PARIS: The number of babies born in France in January fell by 13 percent, the biggest drop in 45 years which...

Updated 26 Feb, 2021 09:32am

NA-75: re-election on March 18

ISLAMABAD: Election Commission of Pakistan (ECP) Thursday announced to hold re-polling in the entire National...

Updated 26 Feb, 2021 09:31am

Cabinet takes stock of situation

ISLAMABAD: Minister for Information and Broadcasting Shibli Faraz on Thursday said that incumbent government is...

Updated 26 Feb, 2021 09:31am

NCC-FFP directs speedy implementation of energy projects

ISLAMABAD: The National Coordination Committee on Foreign-Funded Projects (NCC-FFP), on Thursday directed the line...

Updated 26 Feb, 2021 09:31am

Assets securitization through SPV: SBP amends directives

KARACHI: The State Bank of Pakistan (SBP) has amended the directives on assets securitization through Special ...

Updated 26 Feb, 2021 09:31am

Banks report strong 2020 profit growth: Moody’s

ISLAMABAD: Pakistani banks report strong 2020 profit growth, despite pandemic and rising provisions, but pressure on...

Updated 26 Feb, 2021 09:31am

Pakistan joins Madrid System of Trademark

ISLAMABAD: In a landmark achievement, Pakistan joins the Madrid System of Trademark, as a result of years’ efforts...

Updated 26 Feb, 2021 09:31am

Power arbitration deal likely to be submitted to PM today

ISLAMABAD: Ministry of Privatisation is likely to submit the proposed Arbitration Agreement between Karachi...

Updated 26 Feb, 2021 09:31am

Punjab-based RLNG-fired power plants: Suspension of gas supply contributed to blackout

ISLAMABAD: The countrywide power blackout last month was partially due to suspension of gas supply to three...

Updated 26 Feb, 2021 09:31am

Business & Finance

‘Trade facilitation a great step’

KARACHI: Ateeq-ur-Rehman, economic and financial analyst, has said that trade facilitation to business community in...

Updated 26 Feb, 2021 09:30am

Money & Banking

BMP provides Rs598m relief to banking customers in 2020

KARACHI: The Banking Mohtasib Pakistan (BMP) office has provided relief of around Rs600 million to banking customers...

Updated 26 Feb, 2021 09:30am

Money & Banking

Early trade in New York: Dollar index falls to 7-week low

NEW YORK: The dollar index fell to a seven-week low on Thursday, the Australian dollar hit a three-year high and ...

Updated 26 Feb, 2021 09:30am

Industry

US labour market improving; manufacturing strong

WASHINGTON: Fewer Americans filed new claims for unemployment benefits last week amid falling COVID-19 infections,...

Updated 26 Feb, 2021 09:30am

Industry

Steel melters seek govt support

LAHORE: Pakistan Steel Melters Association (PSMA) drawing the attention towards expanding unregistered small ...

Updated 26 Feb, 2021 09:30am

Industry

LCCI and Pakistan HVACR Society ink MoU

LAHORE: The Lahore Chamber of Commerce and Industry and Pakistan HVACR Society have signed a Memorandum of...

Updated 26 Feb, 2021 09:30am

Money & Banking

Aussie, kiwi climb

SYDNEY: The Australian and New Zealand dollars climbed to multi-year peaks on Thursday as a global rush into...

Updated 26 Feb, 2021 09:30am

Business & Finance

PSEB signs MoU with PSX

KARACHI: In yet another major step towards ensuring sustainable growth of Pakistan’s IT industry, Pakistan ...

Updated 26 Feb, 2021 09:30am

Industry

KCCI urges Nepra to declare K-Electric’s plea ‘infructuous’

KARACHI: Senior Vice President Karachi Chamber of Commerce & Industry Saqib Goodluck, while referring to...

Updated 26 Feb, 2021 09:30am

Industry

PIA seeks go-ahead for Lahore to Tashkent flights

KARACHI: Pakistan International Airlines (PIA) has sought go-ahead to commence flights from Lahore to Tashkent by ...

Updated 26 Feb, 2021 09:30am

Industry

CPEC a shining example of Pak-China friendship: SCCI chief

PESHAWAR: The Sarhad Chamber of Commerce and Industry president Sherbaz Bilour has termed the Pak-China Economic...

Updated 26 Feb, 2021 09:30am

Money & Banking

Risk units, euro rise in Europe

LONDON: The dollar index dropped on Thursday, risk currencies rose to three-year highs and the euro continued its...

Updated 26 Feb, 2021 09:30am

Taxes

World’s biggest wealth fund divests from tax dodgers

OSLO: Norway’s sovereign wealth fund, the world’s largest with assets of $1.3 trillion, said Thursday it had ...

Updated 26 Feb, 2021 09:30am

Energy projects won’t add to debt: China

BEIJING: A Chinese Foreign Ministry's Spokesperson said on Wednesday that power projects under China-Pakistan...

Updated 26 Feb, 2021 09:27am

Pakistan not out of the FATF woods yet

ISLAMABAD: The Financial Action Task Force (FATF) on Thursday decided to keep Pakistan on its ‘grey list’, ...

Updated 26 Feb, 2021 09:27am

Sri Lanka offered use of Gwadar Port

ISLAMABAD: Pakistan has offered Sri Lanka use of Gwadar Port for warehousing to facilitate trade with Afghanistan,...

Updated 26 Feb, 2021 09:27am

Export proceeds in USD: ECs allowed forward sale transactions with banks

KARACHI: The State Bank of Pakistan (SBP) Thursday allowed Exchange Companies forward sale transaction with banks up...

Updated 26 Feb, 2021 09:27am

Sri Lanka seeks $2.2bn from China as reserves shrink

COLOMBO: Sri Lanka is seeking $2.2 billion from Chinese banks, the government said Thursday, in echoes of a ...

Updated 26 Feb, 2021 09:27am

SC says will confine its opinion to constitutionality of Senate elections

ISLAMABAD: The Supreme Court’s opinion on the presidential reference will only be confined to the question whether...

Updated 26 Feb, 2021 09:27am

11 from Punjab elected unopposed to Senate

LAHORE: Five each Senate candidates of Pakistan Muslim League-Nawaz (PML-N) and Pakistan Tehreek-e-Insaf (PTI) and...

Updated 26 Feb, 2021 09:27am

BR Research

Stagnant spinning: casual explanations not enough

The common refrain of domestic textile industry is that falling cotton output is responsible for decline of...

Published 26 Feb, 2021 07:40am

BR Research

PSEL: still in the red

Marred by economic sluggishness, Pakistan’s premium hotel sector was already under pressure prior to Covid-19. ...

Published 26 Feb, 2021 07:35am

BR Research

NBP: Stellar profits

National Bank of Pakistan (NBP) has ended CY20 on a grand note, with the after-tax profits almost doubling from last...

Published 26 Feb, 2021 07:31am

BR Research

Oil bulls take centerstage

Crude oil at $100/bbl may well have been out of sight for quite a while but is definitely not out of mind. In the...

Published 26 Feb, 2021 07:25am