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Archive - 2021-02-27
Sunak to give UK Infrastructure Bank 12bn stg of capital in budget
Europe

Sunak to give UK Infrastructure Bank 12bn stg of capital in budget

  • It said this will help the bank, which will launch in the spring and operate UK-wide, unlock billions in private finance to support 40 billion pounds of infrastructure investment.
  • "We are backing this bank with the finance it needs to deliver modern infrastructure fit for the 21st century and create jobs," said Sunak.
Updated 27 Feb, 2021 09:10pm
City make it 20 straight wins with victory over West Ham
Sports

City make it 20 straight wins with victory over West Ham

  • City took the lead in the 30th minute with central defender Ruben Dias heading in a Kevin De Bruyne cross, but the Hammers drew level through Michail Antonio two minutes before the interval.
  • Pep Guardiola's side secured their 14th consecutive league win, however, when Dias' fellow defender John Stones slotted home after being picked out by a Riyad Mahrez pull back.
Updated 27 Feb, 2021 09:10pm
Myanmar ambassador to the United Nations has been fired
South Asia

Myanmar ambassador to the United Nations has been fired

  • Kyaw Moe Tun had told the UN General Assembly he was speaking on behalf of the ousted civilian government of elected leader Aung San Suu Kyi.
  • State television, MRTV, said he had "betrayed the country and spoken for an unofficial organization which doesn't represent the country and had abused the power and responsibilities of an ambassador".
Updated 27 Feb, 2021 09:10pm
UAE supports Saudi position on US Khashoggi report
Middle East

UAE supports Saudi position on US Khashoggi report

  • The UAE's foreign ministry "expressed its confidence in and support for the Saudi judiciary rulings, which affirm the kingdom's commitment to implementing the law in a transparent and impartial manner, and holding all those involved in this case accountable," WAM said.
Updated 27 Feb, 2021 09:09pm
T20 matches shifted as Auckland enters lockdown on Sunday
Sports

T20 matches shifted as Auckland enters lockdown on Sunday

  • Prime Minister Jacinda Ardern announced the lockdown in the country's biggest city after a new local case of the coronavirus of unknown origin emerged.
  • Wednesday's double-headers will go ahead in Wellington as planned but without a crowd, New Zealand Cricket said in a statement on Saturday.
Updated 27 Feb, 2021 09:09pm
South Africa seeks to lift infrastructure investment with change to pension fund rules
Africa

South Africa seeks to lift infrastructure investment with change to pension fund rules

  • Africa's most industrialised nation - the hardest-hit by the coronavirus pandemic on the continent - has put public works in sectors such as transport, energy and water at the heart of its economic recovery plans.
  • They also say overall investment in infrastructure across all asset categories may not exceed 45% of domestic exposure and an additional 10% for the rest of Africa.
Updated 27 Feb, 2021 09:09pm
Scottish Labour elects Anas Sarwar as new leader
Europe

Scottish Labour elects Anas Sarwar as new leader

  • Sarwar, a Glasgow member of the Scottish parliament (MSP), succeeds Richard Leonard who resigned in January.
  • I want to say directly to the people of Scotland - I know Labour has a lot of work to do to win back your trust because if we're brutally honest you haven't had the Scottish Labour party you deserve.
Updated 27 Feb, 2021 09:09pm
Hormuud Telecom awarded Somalia's first mobile money licence
Industry

Hormuud Telecom awarded Somalia's first mobile money licence

  • Hormuud Telecom began operating in Somalia in 2002 and has some 3.6 million subscribers among the country's population of more than 15 million people.
  • The mobile money sector in Somalia has never been regulated, which added to the perceived risk of the financial sector in Somalia.
Updated 27 Feb, 2021 09:09pm
Biden White House asks ‘Trump who?’ ahead of speech to conservatives
USA

Biden White House asks ‘Trump who?’ ahead of speech to conservatives

  • "Our focus is certainly not on what President Trump is saying" at the Conservative Political Action Conference, White House Press Secretary Jen Psaki told reporters.
  • "Biden is obeying an old political rule, which is 'Never get in the way of a train wreck'," said Bob Shrum.
Updated 27 Feb, 2021 09:09pm
Nigeria seeks asset managers for $2.6bn new infrastructure firm
Money & Banking

Nigeria seeks asset managers for $2.6bn new infrastructure firm

  • The asset managers will originate and manage infrastructure projects, generating return from investments, the bank said on Saturday. The deadline for submission of proposals is March 16.
  • Initial capital will come from the central bank, the Nigerian Sovereign Investment Authority (NSIA), and the Africa Finance Corporation, the central bank has said.
Updated 27 Feb, 2021 09:09pm
Swiatek latest to withdraw from Qatar Open
Sports

Swiatek latest to withdraw from Qatar Open

  • World number one Ash Barty on Wednesday withdrew from the March 1-6 tournament in Doha with a left leg injury, while world number three Simona Halep and 2019 US Open winner Bianca Andreescu are also skipping the event.
  • "I don't want to have injury or anything. I want my body to rest properly." Swiatek is also scheduled to compete in the Dubai Duty Free Tennis Championships next month.
Updated 27 Feb, 2021 09:09pm
One killed and one wounded in oxygen explosion at Ukraine hospital
Europe

One killed and one wounded in oxygen explosion at Ukraine hospital

  • Earlier in February, three intensive care patients and a ward doctor died in a fire in a hospital treating coronavirus cases in Zaporizhzhya in southeastern Ukraine.
  • Ukraine has registered more 1.3 million coronavirus cases with 25,893 deaths so far. Chernivtsi is currently among the regions with most new COVID-19 cases.
Updated 27 Feb, 2021 09:08pm
Russian scientists say Sputnik V performs well against COVID mutations
Europe

Russian scientists say Sputnik V performs well against COVID mutations

  • "(A) recent study carried out by the Gamaleya Centre in Russia showed that revaccination with Sputnik V vaccine is working very well against new coronavirus mutations, including the UK and South African strains of coronavirus.
  • We believe that vector-based vaccines are actually better for future revaccinations than vaccines based on other platforms.
Updated 27 Feb, 2021 09:08pm
Italy tightens COVID-19 curbs in several regions as cases pick up
Europe

Italy tightens COVID-19 curbs in several regions as cases pick up

  • Italy has established a four-tier colour-coded system (white, yellow, orange and red) which allows for measures to be calibrated according to infection levels, with assessments revised every week.
  • In these areas restaurants and bars are closed except for take-aways and people are not allowed to leave their towns except for emergencies, work and health reasons.
Updated 27 Feb, 2021 09:08pm
Military honours and fly-past mark funeral of Britain's Captain Tom
Europe

Military honours and fly-past mark funeral of Britain's Captain Tom

  • In the run up to his 100th birthday last year, he had been challenged to walk 100 laps of his garden to raise a modest 1,000 pounds.
  • In line with current pandemic restrictions, the funeral at Bedford Crematorium in central England was attended by just eight members of Moore's immediate family. It was televised, however.
Updated 27 Feb, 2021 09:08pm
Ask your doctor, not the Islamic scholar on safe fasting: Mufti Taqi Usmani
Pakistan

Ask your doctor, not the Islamic scholar on safe fasting: Mufti Taqi Usmani

  • “There are some extreme views that fasting is very harmful for the diabetes’ patients in all circumstances, and there are some who say fasting should be practiced (even) in worst (health) conditions but I think medical practitioners will be in a better position to explain to the patients as to how they should fast safely,” says the renowned Islamic scholar.
Updated 27 Feb, 2021 08:58pm
CAA extends travel restrictions for visitors to Pakistan
Pakistan

CAA extends travel restrictions for visitors to Pakistan

  • The category list of countries from which visitors seek to travel to Pakistan will also remain in effect till March 14, the CAA said.
  • South Africa, UK, Portugal, Ireland, Netherland, Botswana, Zambia and Brazil were the new countries included in category C.
Updated 27 Feb, 2021 07:58pm
Sanjrani calls on Zehri
Pakistan

Sanjrani calls on Zehri

  • Matters relating to upcoming senate elections and other issues of bilateral interest came under discussion during the meeting. On the occasion, MPAs of Balochistan National Party (Mengal) were also present.
Published 27 Feb, 2021 07:29pm
Nation stands united against any external threat: FO
Pakistan

Nation stands united against any external threat: FO

  • “Pakistan remained committed to the peaceful resolution of the long outstanding Jammu and Kashmir dispute in accordance with the relevant UN Security Council resolutions and the wishes of the Kashmiri people,” says FO.
  • “The valiant Pakistan Armed Forces swiftly responded and displayed exemplary professionalism,” says the spokesperson.
Published 27 Feb, 2021 07:00pm
Myanmar police launch most extensive crackdown; one woman shot and wounded
Asia

Myanmar police launch most extensive crackdown; one woman shot and wounded

  • Police launched their most sweeping crackdown in three weeks of protests against military rule on Saturday in towns and cities across Myanmar, and one woman was shot and wounded and dozens of people were detained.
  • Three domestic media outlets said earlier that the woman shot in the central town of Monwya had died but an ambulance service official said she was in hospital. The circumstances of the shooting were not clear.
Updated 27 Feb, 2021 06:02pm
India's Reliance partners with Google, Facebook for digital payment network bid: ET
Technology

India's Reliance partners with Google, Facebook for digital payment network bid: ET

  • Set up in 2008, NPCI is a not-for-profit company, which as of March 2019 counted dozens of banks as its shareholders, including the State Bank of India, Citibank and HSBC.
  • A spokesperson for Infibeam declined comment on the report, saying the company was bound by the confidentiality of process, while Reliance, Google and Facebook did not immediately respond to a request for comment.
Published 27 Feb, 2021 05:58pm
Hamza Shahbaz released from Kot Lakhpat jail
Pakistan

Hamza Shahbaz released from Kot Lakhpat jail

  • PML-N vice president Maryam Nawaz also arrived outside Kot Lakhpat Jail where she received her cousin.
  • PML-N workers carrying drums and showering rose petals danced and celebrated for hours outside the jail in anticipation of his release.
Updated 27 Feb, 2021 05:06pm
Punjab govt withdraws restrictions after decrease in COVID-19 cases
Pakistan

Punjab govt withdraws restrictions after decrease in COVID-19 cases

  • Notification issued by Secretary Primary and Secondary Healthcare read that restrictions imposed in the province under Punjab Infectious Diseases (Prevention and Control) Ordinance 2020 have been withdrawn.
  • “The shrines will also open their doors in the province from March 15,” Secretary Health retired Capt. Muhammad Usman has said in a statement.
Updated 27 Feb, 2021 03:36pm
Pakistan’s economic growth prospects showing signs of improvement
Business & Finance

Pakistan’s economic growth prospects showing signs of improvement

  • Taking all these observations into account, YoY inflation for next month may remain between 5.5−7.5 percent.
  • The Monthly Economic Indicator (MEI), which is based on combining monthly data of indicators that are proven to be correlated with GDP at constant prices shows continued strong growth in January, in continuation with what was observed in the previous seven months.
Published 27 Feb, 2021 12:59pm
BOARD MEETINGS
Rates.PSX

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 27 Feb, 2021 04:29am
Member to Member
Rates

Member to Member

KARACHI: The following transactions member to member subsequently reported on Friday (February 26, 2021)....
Published 27 Feb, 2021 04:29am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Friday (February 26, 2021) and the forecast for Saturday (February 27, 2021)....
Published 27 Feb, 2021 04:29am
Light rain likely today
Pakistan

Light rain likely today

LAHORE: Met Office has predicted light rain on Saturday (today). Already, they said, the weather took a pleasant ...
Published 27 Feb, 2021 04:29am
Spotify launched in Pakistan
Pakistan

Spotify launched in Pakistan

KARACHI: Spotify, the world's most popular audio streaming subscription service, officially launched in Pakistan,...
Published 27 Feb, 2021 04:29am
IPPs short-changed by govt?
Letters

IPPs short-changed by govt?

The relief that the Independent Power Producers (IPPs) had received through National Accountability Bureau’s...
Published 27 Feb, 2021 04:29am
Currency notes: exchange rates
Forex

Currency notes: exchange rates

KARACHI: Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan...
Published 27 Feb, 2021 04:29am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Friday (February 26, 2021). ======================== Offer Price 1,571.9825...
Published 27 Feb, 2021 04:29am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (February 26, 2021)....
Published 27 Feb, 2021 04:29am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Friday (February 26, 2021). ======================================= Offset...
Published 27 Feb, 2021 04:29am
Lahore Grain Market Rates
Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Friday (February 26, 2021)...
Published 27 Feb, 2021 04:29am
Arabica coffee slips
Commodities

Arabica coffee slips

LONDON: Arabica coffee futures on ICE were lower on Friday, weighed partly by the weakness of Brazil's real currency...
Published 27 Feb, 2021 04:29am
Cotton Spot Rates
Cotton & Textile

Cotton Spot Rates

KARACHI: Official KCA spot rates for local dealings in Pakistan rupees on Friday (February 26, 2021)....
Published 27 Feb, 2021 04:29am
PMEX daily trading report
Commodities

PMEX daily trading report

KARACHI: On Thursday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 17.614...
Published 27 Feb, 2021 04:29am
G20 promises no let-up in stimulus

G20 promises no let-up in stimulus

ROME/BRUSSELS: The world's financial leaders agreed on Friday to maintain expansionary policies to help economies...
Published 27 Feb, 2021 04:29am
SPI up 2.41pc WoW

SPI up 2.41pc WoW

ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended February 25, 2021 recorded an increase of 2.41...
Published 27 Feb, 2021 04:29am