News Archives for Latest - 2021-03-02

Commodities

Arabica coffee prices weaken as Brazil currency slides

May arabica coffee was down 1.9 cents, or 1.4%, at $1.3390 per lb .
May London cocoa fell by 9 pounds, or 0.5%, to 1,787 pounds a tonne.
May raw sugar was unchanged at 16.22 cents per lb.

Published 02 Mar, 2021 09:49pm

Commodities

Chile's Codelco copper output jumps in January, Escondida dips

The state-run Chilean Copper Commission (Cochilco) reported that production by Codelco, the world's largest miner of the red metal, rose 19.4% year-on-year to 142,000 tonnes in the month.
Collahuasi - a partnership between Glencore and Anglo American along with Japanese companies - posted a 6.5% year-on-year rise in production to 57,000 tonnes.

Published 02 Mar, 2021 09:41pm

Money & Banking

Ireland's AIB buys back Goodbody Stockbrokers for 138mn euros

AIB, one of two dominant banks in the concentrated Irish market, said in December it was in talks with a number of parties to plug gaps in life, savings and wealth products and expected to finalise the transactions in 2021.
AIB said it acquired the entire share capital of the firm for an enterprise value of 82 million euros alongside around 56 million euros excess cash on Goodbody's balance sheet.

Published 02 Mar, 2021 09:43pm

Sports

Barcelona, Atletico ordered to further tighten belts by La Liga

The figures, published twice annually following each transfer window, dictate how much teams can spend on players, coaches, support staff and their youth teams.
League leaders Atletico Madrid, meanwhile, must make savings of 35.4 million euros to meet a new budget of 217.3 million.

Published 02 Mar, 2021 09:39pm

USA

Colombia current account deficit shrank to 3.3pc of GDP in 2020

The deficit in 2019 was 4.4% of GDP, equivalent to some $14.3 billion, while the 2020 figure was equivalent to $9.08 billion.
Incoming foreign direct investment fell 46.3% last year to $7.69 billion, compared to the year before.

Published 02 Mar, 2021 09:39pm

Forex

Dollar index higher, Aussie gains on better risk sentiment

If you do see volatility the natural inclination is to take risk off the table, in this case it just basically means getting out of existing positions and the dollar shorts are extremely elevated at this point.
Short US dollar positions were last at $29.33 billion, according to data by the Commodity Futures Trading Commission.

Published 02 Mar, 2021 09:33pm

Stocks

TSX boosted by better-than-expected GDP data

Toronto Stock Exchange's S&P/TSX composite index was up 61.85 points, or 0.34%, at 18,361.47.
On the TSX, 134 issues were higher, while 76 issues declined for a 1.76-to-1 ratio favouring gainers, with 25.43 million shares traded.

Published 02 Mar, 2021 09:30pm

Stocks

Wall St dips after solid start to March

Zoom's shares rise on positive outlook.
Target gains on jump in holiday-quarter revenue.
Indexes down: Dow 0.2%, S&P 0.30%, Nasdaq 0.60%.

Published 02 Mar, 2021 09:27pm

Sports

Cricket gets forgotten in IPL, PSL more focused on the game: Steyn

“When you come to like a PSL or the Sri Lankan Premier League (SPL), for that matter, there is an importance on the cricket," says the Right-arm pacer.
“I have only been here for a couple of days and I have had people in and out of my room, just wanting to know about where I have played and how I went about it. Whereas, when I go to something like the IPL that gets forgotten and the main topic is how much money did you go for in this IPL?” says Quetta Gladiator fast-bowler.

Updated 02 Mar, 2021 09:30pm

Europe

Big economies agree to boost IMF funding, Georgieva says

"We finally last Friday at the G20 meeting got a green (light) to work on a new SDR allocation," Kristalina Georgieva said during the IMF's African Fiscal Forum, broadcast online.
"500 billion - in which each and every member of the IMF would receive its own share immediately contributing to reserves," she said, without specifying the currency unit.

Published 02 Mar, 2021 09:21pm

Pakistan

Govt demands Yousuf Raza Gilani’s disqualification from Senate polls after leaked video

“I hope the Chief Election Commissioner will take notice of the video,” says Fawad Chaudhary.
“We were here to file a reference but the ECP was closed for the day. We will submit [the reference] in the morning.”

Updated 02 Mar, 2021 09:26pm

Business & Finance

Online demand fuels Abercrombie & Fitch profit beat, rosy sales outlook

The company, which said it would resume share buybacks, also benefited from increased prices during the holidays as it reined in promotions and tightened inventory.
It projected a 30% to 40% increase in net sales in the first quarter versus an average analysts' estimate for a 32.8% jump to $644.62 million.

Published 02 Mar, 2021 09:23pm

Financial

US bond derivatives signal calm, but economic fundamentals could spur more sell-offs

"The selloff may have run its course," said Jabaz Mathai, head of US rates strategy at Citi, pointing to inflation breakevens backing down.
"I would not say the bear market in Treasuries is over at this point, but there is the prospect of a near-term pullback," said Mathai. "You should see some stability in the 10-year around these levels."

Published 02 Mar, 2021 09:19pm

Financial

Kuwait wealth fund in talks with KPC on $20bn-plus dividends

KPC has owed for years about 7 billion Kuwaiti dinars ($23.14 billion) in dividends to the General Reserve Fund (GRF), one of Kuwait's sovereign funds.
GRF and KPC agreed in recent years a repayment schedule, but GRF now wants to review it and accelerate it as part of government efforts to cover the deficit, said the sources.

Published 02 Mar, 2021 09:17pm

Companies

US shale output won't return to pre-pandemic levels: Occidental CEO

The recovery is looking really good to us. If you look at what's happening in India as well as the US, I think the oil industry is looking like things will be pretty good for us over next couple of years.
"The severe drop in activity in the US along with the high decline rates of shale and the pressure from investment community to maintain discipline instead of growth means in my view that shale will not get back to where it was in the US."

Published 02 Mar, 2021 09:14pm

Companies

Reliance Jio splashes out $8bn in Indian airwaves auction

Jio picked up a total of 488.35 megahertz (Mhz) in frequency bands of 800 Mhz, 1800 Mhz and 2300 Mhz, India's telecoms secretary Anshu Prakash told reporters.
The top three Indian wireless carriers - Jio, Bharti Airtel and Vodafone Idea - together bought airwaves worth 778.15 billion rupees ($10.60 billion) at the close of the two-day auction, Prakash said.

Published 02 Mar, 2021 09:10pm

Stocks

Brazilian stocks, currency fall as tax hikes spook investors

The US dollar strengthened about 2% against the real, sending the Brazilian currency to a three-month low despite a central bank auction selling $1 billion in the spot market.
The benchmark Bovespa equities index fell as much 2.7% in morning trade, with all but one of its constituent companies in the red, before paring losses to 1.3% by midday.

Published 02 Mar, 2021 09:07pm

South Asia

Vaccine exporter India says it has plenty of shots for its own people

India needs to crank up the pace of immunisation at home as it has so far inoculated more than 12 million people. It wants to vaccinate 300 million people - a fifth of its population - against the virus by August.
It makes 60% of all vaccines in the world and has gifted or sold COVID-19 shots to several countries.

Published 02 Mar, 2021 09:05pm

USA

FBI's Chris Wray accuses Capitol Hill attackers of domestic terrorism

"I was appalled that you, our country's elected leaders, were victimized right here in these very halls," Wray testified before the Senate Judiciary Committee.
"That siege was criminal behavior, pure and simple. It's behavior that we, the FBI, view as domestic terrorism."

Published 02 Mar, 2021 08:58pm

Companies

US hedge fund Farallon accuses Toshiba of 'backpedaling' on strategy

Toshiba said last month it had made no change in its policy on investment and shareholder returns. It says the issue is the result of a "misunderstanding" by the shareholder.
In its presentation regarding its call for an extraordinary meeting, Farallon said: "This shift in policy, and the apparent backpedaling, has led to further trust issues and concerns."

Published 02 Mar, 2021 08:58pm

Companies

Gazprom aims to supply Europe with carbon-neutral LNG

Carbon neutral LNG typically involves companies supporting nature-based projects that reduce emissions to offset those generated from the exploration and production of LNG.
I hope that in the nearest future we will supply our first fully carbon-neutral cargo of LNG to Europe.

Published 02 Mar, 2021 08:53pm

Industry

Oil industry lobby weighs support of carbon pricing

The American Petroleum Institute, which includes most of the world's biggest oil companies, is considering endorsing carbon pricing "among other policy solutions to reduce emissions and reach the ambitions of the Paris Agreement,"
A draft statement of the policy shift reviewed by the Wall Street Journal said the group does not endorse a specific carbon pricing tool such as a tax on carbon emissions or emissions trading scheme.

Published 02 Mar, 2021 08:46pm

Pakistan

Leaked video: Ali Haider Gilani admits meeting PTI lawmaker

"Not just once, I will meet them a hundred times as it is my right to do so," said Gilani.
Gilani said that he had met the PTI lawmakers to secure vote for his father.

Published 02 Mar, 2021 08:39pm

USA

Canada's economy posts 9.6pc annualized growth in Q4

"There are a lot of moving parts here but overall I would say this is generally better than expected," said Doug Porter, chief economist at BMO Capital Markets.
The Canadian dollar was trading 0.1% lower after the data at 1.2661 to the greenback, or 78.98 US cents, easing back from a rally the previous day.

Published 02 Mar, 2021 08:44pm

Energy

Oil steady before OPEC+ talks on supply amid economic recovery

OPEC+ meets on Thursday to discuss output.
OPEC secretary general sees last year's headwinds easing.
Oil rices rallied last week to one-year peak.

Published 02 Mar, 2021 08:36pm

Commodities

Ivory Coast sells almost 100,000 tonnes of 2021/2022 cocoa at small discount

The regulator however maintained a $400/tonne premium known as the living income differential (LID) that was introduced this season to boost farmers' incomes.
A bumper crop and weak global demand caused by the pandemic, coupled with the introduction of the LID, left piles of unsold beans in warehouses in Ivory Coast.

Published 02 Mar, 2021 08:41pm

Pakistan

Watch: Ali Haider Gilani allegedly ‘buying vote’ for Senate election 2021

Polling for 37 Senate seats – excluding Punjab where senators got elected unopposed will take place on March 3.
Yusuf Raza Gilani is contesting against current Finance Minister Hafeez Sheikh for a general seat.

Updated 02 Mar, 2021 08:39pm

Companies

Merck to help make Johnson & Johnson's COVID-19 vaccine

After scrapping development of its own COVID-19 vaccine candidates in January, Merck last month said it was working on a deal to open up its manufacturing capacity to other vaccine makers.
J&J is shipping about four million doses of its vaccine in the United States this week, but the next shipments hinge on when its new, larger manufacturing plant receives regulatory approvals.

Published 02 Mar, 2021 08:34pm

Commodities

Wheat up 5-7 cents; corn, soybeans down 2-4 cents

Wheat futures rebounding from three straight days of declines, supported by deteriorating crop conditions in the US Plains.
The US Agriculture Department lowered its good-to-excellent ratings for wheat in Kansas, Texas and Oklahoma.

Published 02 Mar, 2021 08:30pm

Financial

ECB bought 23.5bn euros worth of bonds last week before redemptions

The large redemptions meant the ECB added just 13.7 billion euros worth of debt to its holdings in the five days to Feb. 26, less than some investors were expecting.

Published 02 Mar, 2021 08:25pm

USA

US imposes sanctions on Russia over poisoning of Navalny

The sanctions were a response to what the officials said was a Russian attempt to assassinate Navalny last year, an accusation Russia denies. Biden's predecessor, former President Donald Trump, had not levied punishment on Russia over the Navalny attack.
"The United States is neither seeking to reset our relations with Russia, nor are we seeking to escalate," one official said.

Published 02 Mar, 2021 08:24pm

Sports

Man United's Cavani in line for return at Palace

Uruguay international Cavani has missed United's last four games in all competitions with a muscle injury but trained on Tuesday ahead of the trip to Selhurst Park.
"We're looking OK. There's a couple of doubts for tomorrow that we have to give as much time as possible," Solskjaer told a news conference on Tuesday.

Published 02 Mar, 2021 08:22pm

Money & Banking

ECB must not hesitate to raise bond buys to rein in yields: Panetta

"We should not hesitate to increase the volume of purchases and to spend the entire PEPP envelope or more if needed," Panetta said in a speech.
Just under 1 trillion euros ($1.20 trillion) of the ECB's PEPP quota is still unused and until the recent yield rise, policymakers argued that the ECB did not necessarily have to spend this amount.

Published 02 Mar, 2021 08:19pm

Forex

Brazil central bank intervenes in FX, sells $1bn as real slides further

Tuesday's $1 billion sale, taking central bank intervention since Thursday to over $4 billion, came as pressure on Brazilian assets intensified after President Jair Bolsonaro eliminated certain fuel taxes and increased a tax on banks.
There's a (market) crisis of confidence in the government, and we have negative rates.

Published 02 Mar, 2021 08:06pm

Energy

OPEC president says oil market rebalancing, pandemic still a risk

"Crude prices are relatively stable ... we see a certain balance between demand and supply," OPEC president Diamantino Azevedo told.
"The production levels that were desirable at the time of the latest adjustment could naturally be affected downward due to ... the COVID-19 pandemic and its variants," he added.

Published 02 Mar, 2021 08:03pm

Sports

AC Milan can get through decisive period without Ibrahimovic, says Pioli

The 39-year-old Swede, who is Milan's top scorer with 14 goals in 14 league games this season, was forced off during Sunday's 2-1 win over AS Roma with a muscular problem.
He is expected to miss at least 10 days, during which time he will be a guest at the Sanremo music festival throughout this week.

Published 02 Mar, 2021 08:02pm

Stocks

Wall St opens little changed after strong rally

The Dow Jones Industrial Average fell 0.1 points at the open to 31535.37. The S&P 500 rose 1.8 points, or 0.05%, at the open to 3903.64.
The Nasdaq Composite rose 10.6 points, or 0.08%, to 13599.449 at the opening bell.

Published 02 Mar, 2021 08:00pm

Forex

Canadian dollar adds to Monday's rally as economy grows

Canadian dollar gains 0.1% against the greenback.
Economy grows annualized 9.6% in fourth quarter.
Price of US oil increases 0.9%.
Canadian bond yields rise across a steeper curve.

Published 02 Mar, 2021 07:59pm

Stocks

TSX opens higher on better-than expected GDP data

Toronto Stock Exchange's S&P/TSX composite index was up 41.86 points, or 0.23%, at 18,341.48.

Published 02 Mar, 2021 07:57pm

Europe

EU, under pressure over vaccine rollouts, considers switch to emergency approvals

We are ready to reflect with the member states on all possible avenues to indeed accelerate the approval of the vaccines.
This procedure was used in April to initially authorise doctors to use Gilead's antiviral drug remdesivir as a treatment against COVID-19. The drug was later given conditional approval by EMA.

Published 02 Mar, 2021 07:57pm

Europe

EU to investigate German payout for RWE, LEAG coal phase-out

Our role is to safeguard competition by making sure that the compensation granted to the operators of the plants for phasing out earlier than foreseen is kept to the minimum necessary.
"The information currently at our disposal does not allow us to confirm this with certainty, and we will now investigate this further," she said.

Published 02 Mar, 2021 07:50pm

Europe

UK royal Meghan seeks 1.5mn pounds in costs after court privacy win

A judge at London's High Court ruled the tabloid had breached her privacy and infringed her copyright by publishing parts of the five-page letter she wrote to her father Thomas Markle who she fell out with on the eve of her wedding to Prince Harry.
At a hearing on Tuesday to determine costs and other unresolved issues, documents submitted to the court showed that Meghan's lawyers had asked for 1.5 million pounds in legal fees, with half the amount to be paid within 14 days.

Updated 02 Mar, 2021 07:55pm

Companies

Betting on death of petrol cars, Volvo to go all electric by 2030

Volvo CEO says customers won't want a petrol engine in future.
Carmakers racing to switch to zero-emissions models.
Volvo targets 50% of its sales fully electric cars, 50% hybrid by 2025.
Volvo launches C40 model, a fully electric SUV.

Published 02 Mar, 2021 07:40pm

Africa

Ghana kicks off coronavirus vaccination campaign with COVAX shots

I feel so good about taking the vaccine. It will protect me from contracting the virus from patients.
COVAX aims to deliver over 1.3 billion vaccine doses to over 90 low- and middle-income countries by the end of the year, covering up to 20% of their populations.

Published 02 Mar, 2021 07:21pm

South Asia

Malaysia approves Sinovac, AstraZeneca COVID-19 vaccines for use

Malaysia began its vaccination drive on Feb. 24 using a shot developed by US drugmaker Pfizer and German partner BioNTech, as it tries to rein in a spike in infections and help revive an economy that recorded its worst slump in more than two decades last year.
Sinovac signed a deal with Malaysia's Pharmaniaga, which will carry out a fill-and-finish process for the vaccine's distribution in Malaysia, before later manufacturing it locally.

Published 02 Mar, 2021 07:17pm

Commodities

Russia could reduce poultry import tax for Brazil: RIA reports

Moscow has imposed grain export curbs and other measures in an attempt to slow food inflation amid the COVID-19 pandemic and falling household incomes.
The possible tax cut was mentioned at a meeting of agriculture ministry officials and Russia's largest poultry producers on Tuesday, at which they discussed rising prices for poultry and eggs, RIA said.

Published 02 Mar, 2021 07:14pm

Industry

Thai Airways plans slimmer fleet and workforce in turnaround plan

Plans to reduce fleet size from 103 to 86 aircrafts by 2025.
Plans to have five aircraft types, down from 12.
Aims to reduce workforce to 13,000 to 15,000 employees.

Published 02 Mar, 2021 07:12pm

Forex

Russian rouble rebounds as sanctions threat fades

Rouble was 0.7% stronger against the dollar at 73.64 and had gained 0.8% in volatile trade to 88.60 versus the euro.
A trader at an investment company in Moscow told Reuters that reports of softer sanctions expected to be imposed by the United States were largely behind the rouble's swing.

Published 02 Mar, 2021 07:10pm

Financial

Italian bonds come under pressure after stimulus report

After major benchmarks on Monday marked their best daily performance since June 2020, euro area bonds calmed on Tuesday. Germany's 10-year yields, the benchmark for the region, rose 2 basis points to -0.32% at 1140 GMT.
Southern European bonds came under renewed pressure, with Italian bonds underperforming. The 10-year yield rose 4 basis points to 0.71%.

Published 02 Mar, 2021 07:06pm

Energy

India sees fuel demand seen rebounding in year to March 2022

Higher expectation of fuel consumption, a proxy for oil demand, points to a sharp recovery in industrial activity in the economy hit hard by the pandemic.
India's economy returned to growth in the three months to December with its gross domestic product rising 0.4% compared with the same period a year earlier.

Published 02 Mar, 2021 07:05pm

South Asia

Myanmar's neighbours press for Suu Kyi's release, restoration of democracy

Neighbours urge release of Suu Kyi.
Singapore PM says lethal force is disastrous.
Police break up protests in Yangon and Kale.
Anti-coup groups say ASEAN legitimising junta with meeting.
Six journalists among those arrested in Yangon – lawyer.

Published 02 Mar, 2021 07:05pm

Europe

Hungary must prepare for surge in COVID-19 cases

The pandemic is progressing at an enormous pace throughout Europe and in Hungary, the number of cases rises day after day as well, even as 721,000 people had already received (at least) the first dose of a vaccine.
The country aims to give the jab to about 80,000 more people by Wednesday, although several officials have warned in recent days that further restrictions may be needed to curb the pandemic.

Published 02 Mar, 2021 06:59pm

Middle East

Turkey to expand military cooperation with Pakistan, for coveted Chinese military technology

Turkey has been reportedly pushing to co-manufacture warplanes and missiles in Pakistan, which could potentially grant it access to coveted military technology from China.

Updated 02 Mar, 2021 07:02pm

Companies

India woos Tesla with offer of cheaper production costs than China

Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021.
Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors.

Published 02 Mar, 2021 06:50pm

Companies

Target same-day delivery, store pick-up demand fires up holiday quarter sales

The retailer's shares, which have gained over 80% in the year, were trading largely flat before the bell.
The company's comparable sales rose 20.5% in the fourth quarter ended Jan. 30, comfortably beating analysts' estimates for a 16.4% rise.

Published 02 Mar, 2021 06:46pm

Financial

Abu Dhabi's Mubadala hires banks for euro bonds: document

They will hold investor calls starting on Tuesday, to be followed by an issue of six-year and 12-year euro-denominated bonds, subject to market conditions.
MDGH lost 9.4 billion dirhams in the six months ended June 30, 2020 versus a profit of 9.67 billion in the same period a year earlier, the prospectus showed.

Published 02 Mar, 2021 06:43pm

Europe

German exports to UK fell almost a third in January as Brexit hit

Brexit adds to strains on trade from pandemic.
German exports to UK in decline since 2016 Brexit vote.
Many businesses on continent reorganise supply chains.

Published 02 Mar, 2021 06:39pm

Companies

Online demand powers Kohl's holiday sales, to buy back up to $300mn of shares

Shares of the mid-priced chain rose 2% as it reinstated a quarterly dividend and said it would buy back shares worth $200 million to $300 million.
Kohl's, which started selling Lands' End Inc's comfy clothes last year, now plans to launch its own athleisure brand FLX as it looks to increase store space allotted for activewear.

Published 02 Mar, 2021 06:36pm

Technology

Google teams up with Allianz, Munich Re to insure its cloud users

Targets US companies with up to $5 bln in annual revenue.
First such partnership with top cloud provider.
Gives insurers access to data to better price risk.

Published 02 Mar, 2021 06:34pm

Europe

142 countries to get 237mn vaccines doses from COVAX by end May: WHO

Tedros Adhanom Ghebreyesus, WHO director-general, told a news conference that vaccine deliveries were planned on Tuesday to Angola, Cambodia, the Democratic Republic of Congo and Nigeria.
Ghana's president Nana Akufo-Addo said his West African country, which has begun its innoculation campaign with COVAX doses, aimed to vaccinate 20 million people by the end of 2021.

Published 02 Mar, 2021 06:32pm

Commodities

Philippines tenders for 145,000 tonnes of wheat

Deadline for price submissions is believed to be Thursday, March 4.
The group is seeking 75,000 tonnes of feed wheat in two consignments for delivery between April and June. Another 70,000 tonnes of milling wheat is sought in two consignments for delivery in June.

Published 02 Mar, 2021 06:29pm

Companies

Abercrombie & Fitch quarterly sales fall 5pc

Net sales fell to $1.12 billion from $1.18 billion a year earlier, in line with analysts' average estimate of $1.12 billion, according to Refinitiv IBES data.

Published 02 Mar, 2021 06:26pm

Financial

GAM to wind down Greensill Supply Chain Finance Fund

Our portfolio is comprised of investment grade assets and we do not have any valuation concerns. As such we anticipate an orderly liquidation and return of client assets in the normal course.
The move came a day after Credit Suisse said it was closing its supply chain finance funds linked to supply chain finance firm Greensill.

Published 02 Mar, 2021 06:23pm

Energy

UAE's ADNOC to ease oil supply cuts in April

Having cut its March term supply nominations by 10-15%, national oil company ADNOC plans to reduce the cuts to 5% next month, the sources said.
OPEC+ sources told Reuters a 500,000 barrels per day (bpd) increase from April looked possible without building up inventories.

Published 02 Mar, 2021 06:21pm

USA

Brazil monthly producer price inflation 3.36pc in Jan, second highest since 2014

Factory gate prices rose 3.36% in January from the month before, almost touching the 3.4% increase registered last October, the highest since the IBGE series began in 2014.
The annual rate of producer price inflation in January was 23%, IBGE said.

Published 02 Mar, 2021 06:19pm

Europe

Erdogan pledges stronger freedoms, rights in Turkish government plan

The plan, promised in recent months as part of a series of legal and economic reforms, would also improve the judiciary system, Erdogan said at the presidential palace in Ankara.
No one can be deprived freedom because of their thoughts, said Erdogan, who has faced criticism both at home and abroad for his increasingly autocratic rule over the NATO member country.

Published 02 Mar, 2021 06:16pm

Money & Banking

UniCredit's board set to pick new directors on Wednesday

Mustier stepped down on Feb. 11 after clashing with the board over strategy late last year. UniCredit has named Co-Chief Operating Officer Ranieri de Marchis as general manager pending Orcel's arrival.
The list will also include current Chairman-elect Pier Carlo Padoan, an Italian economist and former Treasury chief, who will replace Cesare Bisoni.

Published 02 Mar, 2021 06:16pm

Sports

Villa's Grealish out of Sheffield United trip as 'frustrating' injury continues

"He won't be ready for the game tomorrow, he's not travelling with us," Smith told a news conference on Tuesday.
"We'll decide whether we can get him on the training ground later in the week. He's working with the doctor and the rehab staff every day.

Published 02 Mar, 2021 06:11pm

Commodities

Copper's rally may be back on as prices steady above $9,000

Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $9,150 a tonne.
On the Shanghai Futures Exchange (ShFE), speculators' net long reached 57.9% of open contracts on Friday, the most since 2003, before falling to 51.8% on Monday, Marex said.

Published 02 Mar, 2021 06:09pm

Commodities

Gold edges up as US yields soften

Citi lowers 2021 gold price forecast.
Dollar index holds near four-week peak.
Silver drops to over one-month low.

Published 02 Mar, 2021 06:04pm

Energy

Oil slips on fears over higher OPEC supply, slower China demand

OPEC+ meets on Thursday to discuss output.
OPEC output drops in Feb on additional Saudi cut –survey.
China's weak factory activity raises fears over slow oil demand.

Published 02 Mar, 2021 06:05pm

Stocks

Indian shares settle higher as IT, auto stocks gain

The NSE Nifty 50 index ended 1.07% higher at 14,919.10, while the S&P BSE Sensex closed 0.9% higher at 50,296.89.
Infosys and Tata Consultancy Services gained 3.2% each, while the broader Nifty IT index closed 3.04% higher.

Published 02 Mar, 2021 06:03pm

Stocks

Sri Lankan shares fall as industrials, financials slide

The benchmark stock index ended down 1.27% at 7,343.38. The index is off 18.6% from its lifetime high hit on January 29, 2021.
Cable manufacturer ACL Cables slumped 6.2%, according to exchange data, while LOLC Holdings slid nearly 3%.

Published 02 Mar, 2021 05:59pm

Europe

Romanian politician and ex-president's daughter get jail terms for corruption

The court in Bucharest gave Ioana Basescu, a public notary, a five-year prison sentence. Elena Udrea, a former centre-right minister, lawmaker and close political ally of former president Basescu was handed an eight-year prison term.
Investigations by anti-corruption prosecutors have exposed conflict of interest, abuse of power, fraud and awarding of state contracts in exchange for bribes across political parties.

Updated 02 Mar, 2021 06:01pm

Financial

Croatia sells more T-bills than planned, yields lower

The yield on the one-year paper inched down one basis point to 0.02% and that on the six-month paper was zero percent.
The overall bids at Tuesday's auctions amounted to as much as 3.02 billion kuna.

Updated 02 Mar, 2021 05:58pm

Automobile

Suzuki to introduce new Swift latter this year: report

The current model is about 11-year-old and reports suggest that in August this year it will finally be discontinued and would be replaced by its newer version.
In the second quarter of the year, the company may introduce the new Swift and the car would be available for sale by the end of this year.

Updated 02 Mar, 2021 05:57pm

Pakistan

CPEC set to become a high-quality demonstration project of Belt and Road Initiative: FM

Foreign minister says that President Xi Jinping's leadership, at a momentous history, has greatly helped Chinese nation achieve its national aspirations
Chinese foreign minister says Pakistan-China friendship has strengthened with time and both sides stood shoulder-to-shoulder in hour of need

Published 02 Mar, 2021 05:41pm

Automobile

Hyundai Elantra all set to debut in Pakistan within days

The car is expected to cost between Rs3.6million to Rs4million and it is expected to compete against Honda Civic and Toyota Corolla.
The car is expected to pack a 1.6L Naturally Aspirated 4-Cylinder Petrol Engine. The engine produces 122hp and 156Nm of torque, mated with 6-Speed Manual or 6-Speed Automatic transmission.

Updated 02 Mar, 2021 05:16pm

Markets

PSX, NIFT to Launch E-IPO System for Pakistan’s Capital Market

The digital portal will provide facility to investors (local, foreign, and institutional), TRE Certificate Holders, and even banks for submission of online subscription applications from anywhere in the world through the internet.

Published 02 Mar, 2021 04:28pm

Pakistan

PML-N to hold anti-govt protests across Punjab

The PML-N will hold demonstration in Mianwali on March 3, Gujranwala and Mandi Bahauddin on March 5, Narowal and Sialkot on March 7
The opposition party has not yet finalised dates for protests in Faisalabad, Kasur, Sheikhupura, Jhelum, Layyah and Rajanpur

Published 02 Mar, 2021 04:31pm

Pakistan

Pakistan condemns Houthi attacks against Saudi Arabia

A Houthi projectile injured five civilians in a border village in Jazan region.
"Pakistan also calls on Houthi militia to halt its attacks on Ma’arib governorate in Yemen. We reiterate our call for a comprehensive political solution to the conflict in Yemen through peaceful means," FO said.

Published 02 Mar, 2021 04:03pm

Industry

ITI Freight Train to resume operations after 9 years: Razak Dawood

The Istanbul-Tehran-Islamabad (ITI) Freight Train will resume operations this March after nine years, according to a recent tweet by Abdul Razak Dawood.

Published 02 Mar, 2021 03:53pm

Pakistan

ECP constitutes vigilance committee to ensure transparency in Senate polls

The committee has been tasked to provide necessary information and records to the ECP, as well as present a report if an inquiry is required to be conducted
A management system is also established to collect complaints by the election commission

Published 02 Mar, 2021 03:50pm

Stocks

European equities slip at open

London's benchmark FTSE 100 index of major blue-chip companies dipped 0.2 percent to 6,573.10 points.

Published 02 Mar, 2021 03:47pm

World

Press watchdog RSF files lawsuit against Saudi prince over Khashoggi

Its report details the cases of 34 other journalists who have been jailed in Saudi Arabia, including the blogger Raif Badawi, who has been imprisoned in his home country since 2012 on charges of "insulting Islam".

Published 02 Mar, 2021 03:46pm

Stocks

Eurozone inflation steady as energy prices recover

Europe's spending stimulus has been less ambitious, but markets have signalled expectations that inflation will rise in the coming months, with borrowing prices for EU governments increasing.

Updated 02 Mar, 2021 03:45pm

Opinion

Deconstructing the Indo-Pak Ceasefire

Last month, India and Pakistan committed to abiding by the 2003 ceasefire agreement. The announcements were made...

Updated 02 Mar, 2021 03:14pm

Pakistan

Brawl erupts between PPP, PTI lawmakers in Sindh Assembly

The brawl reportedly took place after PTI MPAs attacked three of their party members when they came to attend the assembly session
PPP MPAs tried to cool down the disgruntled PTI lawmakers which caused the situation to escalate

Published 02 Mar, 2021 02:55pm

Sports

HBL PSL6 to continue despite three COVID-19 positive cases: PCB

Three more individuals have tested positive for the deadly virus, which includes two foreign players and one local support staff member.
They will remain in quarantine for the next ten days.

Updated 02 Mar, 2021 02:48pm

Life & Style

Split from royal life ‘unbelievably tough’, says Prince Harry

In an interview with Oprah Winfrey, Harry invoked the memory of his late mother, Princess Diana, who had to find her way alone after she and Prince Charles divorced.

Published 02 Mar, 2021 02:12pm

Business & Finance

What lessons can the world learn from China's War on Poverty?

Dr. Alessandra Cappelletti an associate professor in the Department of International Studies at Xi’an Jiaotong-Liverpool University Liverpool University says there are some reasons why this project is so successful.

Published 02 Mar, 2021 02:21pm

Pakistan

Process to vaccinate masses to start soon: Dr Yasmin Rashid

The provincial health minister said that an order of 17 million shots of coronavirus vaccines have been placed which will be administered to public, says Punjab Health Minister.
Funds were being squandered by the Punjab health authorities, says PML-N MPA.

Updated 02 Mar, 2021 02:16pm

Life & Style

Lady Gaga’s dogs recovered safely after theft and shooting

Lady Gaga’s two French bulldogs, which were stolen by thieves who shot and wounded their walker, were recovered unharmed.

Published 02 Mar, 2021 02:08pm

Industry

Dubai scores another Guinness World Records entry for a Gas Project

The Jebel Ali complex of the Dubai Electricity and Water Authority (DEWA) has been recognized as the largest single-site natural gas power generation facility in the world.

Published 02 Mar, 2021 01:54pm

World

Philippines to evaluate China's Sinopharm COVID-19 vaccine for emergency use

Sinopharm is the sixth vaccine maker to apply for emergency use authorisation in the Southeast Asian country.

Published 02 Mar, 2021 01:35pm

Energy

Oil slides 1% on fears over higher OPEC supply, slower China demand

Market sentiment was also dampened by weak manufacturing data out of China, Kikukawa said.

Published 02 Mar, 2021 01:33pm

Commodities

CBOT soybeans may break $13.78-1/4 and fall to $13.62-1/4

A break below $13.63 could confirm this wedge and a target of $13.11-3/4.

Published 02 Mar, 2021 01:32pm

World

Indonesia says identifies two cases of British COVID-19 variant

Wiku Adisasmito declined to comment further on the new variant, known as B117.

Published 02 Mar, 2021 01:30pm

Business & Finance

Turkey's Erdogan says exports rose 9.6% in February

Erdogan was speaking at a news conference after a cabinet meeting.

Published 02 Mar, 2021 01:29pm

Commodities

Palm falls for third day on expectations of rising stockpile

Meanwhile, Dalian's most-active soyoil contract fell 1%, while its palm oil contract slipped 3.5%. Soyoil prices on the Chicago Board of Trade were down 1.1%.

Published 02 Mar, 2021 01:26pm

Energy

As Asia LNG price retreats, China storage looms as key issue: Russell

The first is that a spike in demand on the back of something unexpected can overwhelm available supply, even if the market is in a slight oversupply situation on an annual basis as a whole.

Published 02 Mar, 2021 01:24pm

Financial

Malaysia says FDI inflows dropped 56% in 2020 to $3.4bn

Malaysia, however, saw gross foreign investment inflows rise 0.8% last year, MIDA said.

Updated 02 Mar, 2021 01:23pm

Taxes

World Bank & CDPR Unlock Pakistan’s Income Tax Potential in a New Webinar Series

The Pakistan Development Policy series 2021 is a set of policy discussions organized by CDPR and the World Bank to discuss key reform areas critical to Pakistan’s economic, social and development growth.

Updated 02 Mar, 2021 01:08pm

Life & Style

Winston Churchill painting owned by Angelina Jolie sells for $11.5 million

The buyer of the painting, bought by Jolie and Brad Pitt in 2011, wasn’t immediately identified.

Updated 02 Mar, 2021 01:05pm

Pakistan

Accountability court allows Khwaja Asif, Shehbaz Sharif to take part in Senate polls

Jail authorities say ECP has called for bringing Shehbaz Sharif to the National Assembly for casting vote
Asif will be taken to Islamabad to take part in Senate voting process

Published 02 Mar, 2021 12:56pm

Business & Finance

Thai exports may rise more than forecast as demand recovers

The baht eased slightly to 30.34 per dollar on Tuesday but it has still gained 9.3% since last April.

Published 02 Mar, 2021 12:44pm

Business & Finance

Freight train between Pakistan & Turkey to resume operations on March 4

The first train will travel from Turkey to Karachi in two weeks. The train will reach Karachi via Iran, Zahedan, Quetta, and Rohri.

Published 02 Mar, 2021 12:40pm

Forex

Yuan weakens slightly as Chinese regulator flags inflow risks

Although most traders agree that the yuan will likely continue to be range-bound in the short-term, analysts were divided over longer-term trends.

Published 02 Mar, 2021 12:35pm

Energy

Russia's February oil output falls despite plans to raise it

The reason behind the fall was not immediately clear.

Published 02 Mar, 2021 12:33pm

Stocks

Australia shares fall in muted response to c.bank stance; weak commodities weigh

In New Zealand, the benchmark S&P/NZX 50 index rose 0.3% to finish the session at 12,344.49 points.

Published 02 Mar, 2021 12:30pm

Energy

UAE's ADNOC to cut oil term supply by 5% in April

Last month, ADNOC notified clients that March term supplies for Upper Zakum crude would be cut by 15%, sources said. Term supplies for other grades were reduced by 10%.

Published 02 Mar, 2021 12:26pm

Pakistan

180000 senior citizens have so far registered for coronavirus vaccine

Vaccination of those who register in this category will start this month.
An official of the Ministry of National Health Services has said there are around eight million people aged 65 and above.

Published 02 Mar, 2021 12:26pm

Companies

Betting on death of petrol cars, Volvo to go all electric by 2030

The carmaker's global network of 2,400 traditional bricks-and-mortar dealers will remain open to service vehicles and to help customers make online orders.

Published 02 Mar, 2021 12:22pm

Stocks

Asian shares fall amid China's asset-bubble warning

There were also fears among energy investors that OPEC may increase global supply following a meeting this week.

Published 02 Mar, 2021 12:20pm

Commodities

CBOT corn may fall to $5.23-1/2

On the daily chart, corn is riding on a wave 4, which is unfolding towards $5.25-1/4.

Published 02 Mar, 2021 12:18pm

Stocks

South Korea shares jump on Wall St rally, upbeat trade data

The won was quoted at 1,124.0 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,123.5.

Published 02 Mar, 2021 12:16pm

Pakistan

Senate polls to be held through secret ballot, says ECP

ECP says that the top court's decision will be implemented in letter and spirit
The Commission is taking all possible steps and measures to fulfill its constitutional duty to check that corrupt practices in the Senate Elections are guarded against: ECP

Published 02 Mar, 2021 12:18pm

Financial

Australia's central bank commits to keep 3-year yields low amid bond rout

"The market is on notice," ANZ economists said, underlining the RBA's preparedness to buy more bonds if needed.

Published 02 Mar, 2021 12:10pm

Forex

Kenya's shilling stable, demand for dollars subdued

At 0640 GMT, commercial banks quoted the shilling at 109.70/90 per dollar, unchanged from Monday's closing rate.

Published 02 Mar, 2021 12:08pm

Commodities

Taiwan's MFIG buys about 65,000 tonnes corn from Argentina

If sourced from the US Pacific Northwest coast or South Africa, shipment is sought between May 9 and May 28.

Published 02 Mar, 2021 12:06pm

Bullion Rate

Gold falls to over 8-mth low on stronger dollar, higher yields

Focus also remains on the developments of the $1.9 trillion US coronavirus relief bill that will be debated in the Senate this week.

Published 02 Mar, 2021 12:03pm

Stocks

Tokyo stocks close lower on profit-taking

The benchmark Nikkei 225 index fell 0.86 percent or 255.33 points to end at 29,408.17.

Published 02 Mar, 2021 12:02pm

Business & Finance

Pakistan’s private airline to commence international operations this month

The private airline was previously scheduled to begin its flight operations in Saudi Arabia and the United Arab Emirates from January 2021, however, the plans took a backtrack due to worldwide travel restrictions in place due to COVID lockdowns.

Published 02 Mar, 2021 11:57am

World

Five guards freed after new Ecuador prison riot controlled

President Lenin Moreno denounced the "barbarity" of the riots and said the gangs were "fighting for leadership and the trafficking of drugs throughout" Ecuador.

Published 02 Mar, 2021 11:55am

Sports

Zion dominant as Pelicans upset Jazz, Sixers bounce back

Pelicans prodigy Williamson finished with 26 points, 10 rebounds and five assists to give New Orleans a deserved victory over the Western Conference-leading Jazz.

Published 02 Mar, 2021 11:53am

World

More than 400 acts of violence against Covid health workers in 2020: report

"The map shows that violence and intimidation against health care was a truly global crisis in 2020, affecting 79 countries," said Insecurity Insight director Christina Wille in a statement.

Published 02 Mar, 2021 11:50am

World

Indonesia's erupting Sinabung volcano belches column of ash

Indonesia -- an archipelago of more than 17,000 islands and islets -- has nearly 130 active volcanoes.

Published 02 Mar, 2021 11:47am

Stocks

China tech stocks buoyed by Hang Seng overhaul plans

"This could also make the index more volatile."

Published 02 Mar, 2021 11:46am

Sports

Federer pulls out of Miami Open: report

The pandemic has already impacted the 2021 calendar, delaying the Australian Open and forcing the Indian Wells tournament in California -- the traditional lead-in to the Miami Open -- out of its usual slot in March.

Published 02 Mar, 2021 11:42am

Energy

CO2 pollution bounces back, climate goals at risk: IEA

In India, they rose above 2019 levels from September as economic activity increased and Covid restrictions relaxed.

Published 02 Mar, 2021 11:37am

Business & Finance

Pakistan's OMCs to see signficant rise in sales with uptick in economic activity: Report

The report was of the view that the pickup in HSD volumes is largely attributable to high economic activity compared to the same period last year, back in February 2020 industry volumes posted a decline of 26pc YoY, amid the restrictions and lockdowns due to the COVID-19 pandemic.

Published 02 Mar, 2021 11:32am

Sports

Lord's final on line as India, England back at scene of two-day Test

Up to 55,000 fans, half of capacity, will be allowed at the stadium, which was renamed after India's prime minister hours before last week's third Test.

Published 02 Mar, 2021 11:33am

Pakistan

Senate polls: SC rejects plea challenging Abro's nomination papers

Applicant Shahid Rind had challenged the nomination papers of Abro against the decision of Election Commission of Pakistan
The SC while upholding the decision of the tribunal directed the applicant to contact a relevant forum against Saifullah Abro after the Senate elections

Published 02 Mar, 2021 11:27am

Pakistan

SC orders demolition of lawyers chambers, says their location is illegal

The SC dismissed the Islamabad Bar's plea and upheld the Islamabad High Court's verdict ordering the demolishing of the chambers.
The top court said all the lawyers' chambers set up at football ground are illegal, and no illegal activity can be justified.

Published 02 Mar, 2021 11:18am

Stocks

Hong Kong shares begin on front foot

The Hang Seng Index jumped 0.87 percent, or 255.82 points, to 29,708.39.

Published 02 Mar, 2021 11:18am

Companies

2 Americans handed to Japan over Ghosn's escape

Ghosn, who was a global business superstar when his career came crashing to an end, fled Japan while out on bail facing financial misconduct charges.

Published 02 Mar, 2021 11:17am

World

One in four people will have hearing problems by 2050: WHO

Among children, it said, hearing loss could be prevented in 60 percent of cases.

Published 02 Mar, 2021 11:16am

World

Novavax hopes to file for US vaccine approval in 2nd quarter of 2021

That will likely be in the second quarter of 2021, depending on the virulence of the Covid-19 epidemic in the two countries, according to the Novavax statement.

Published 02 Mar, 2021 11:14am

World

Immigration, Covid headline talks between Biden, Lopez Obrador

Asked ahead of the meeting if Washington would send vaccines to Mexico, Biden answered: "We're going to talk about that."

Published 02 Mar, 2021 11:13am

Technology

Zoom earnings strong at close of pandemic-plagued year

"We believe we are well positioned for strong growth with our innovative video communications platform."

Published 02 Mar, 2021 11:12am

World

Just 4% of Covid research relevant to Africa: study

"The time has come that authoritative journals need to turn to authors and ask where local representation is on papers describing health systems in regions that are not there own," they wrote.

Published 02 Mar, 2021 11:10am

Sports

Murray fights back to beat Haase in Rotterdam first round

Murray, who missed the Australian Open after testing positive for Covid-19, is playing only his second ATP Tour event since last October.

Published 02 Mar, 2021 11:08am

World

US Senate to debate Biden stimulus plan 'this week': Schumer

Given the Republicans' wholesale opposition, their defection risked scuttling the entire plan.

Published 02 Mar, 2021 11:07am

Sports

Government backs potential UK and Ireland bid to host 2030 World Cup

England have not hosted the World Cup since winning the tournament for the only time in 1966.

Published 02 Mar, 2021 11:05am

Sports

Runaway leaders Man City can still improve: Guardiola

"There are incredible teams who have struggled for four or five games to win games. That can happen to us too.

Published 02 Mar, 2021 11:04am

Sports

Real Madrid held by Real Sociedad to give Atletico advantage

Madrid's pressure would come but Real Sociedad could have made it two, only for Alexander Isak to fall just short of Mikel Oyarzabal's pass across.

Published 02 Mar, 2021 11:02am

World

Myanmar's Suu Kyi hit with two new criminal charges

Suu Kyi has reportedly been kept under house arrest in the capital of Naypyidaw, an isolated city purpose-built under Myanmar's previous junta.

Published 02 Mar, 2021 11:01am

Stocks

Tokyo stocks open higher on vaccine hopes

The dollar fetched 106.86 yen in early Asian trade, against 106.76 yen in New York late Monday.

Published 02 Mar, 2021 10:59am

Business & Finance

Qatar Petroleum signs major EPC deal

The contract, valued at more than $2 billion (including options), was awarded on a lump sum basis and is the second major onshore EPC contract award for the NFE project.

Published 02 Mar, 2021 10:57am

Energy

As oil prices rally, old OPEC tensions set to rise

OPEC kingpin Saudi Arabia has in recent times been willing to take on extra production cuts to facilitate agreement.

Published 02 Mar, 2021 10:58am

Technology

Amazon accused of race-gender bias in workplace

A number of Black women at Amazon, and particularly its cloud services division, have spoken of having their hair touched without consent or being criticized for not being friendly enough, according to the suit.

Published 02 Mar, 2021 10:56am

Pakistan

PCAA issues fresh travel advisory for inbound flights

In its fresh advisory, the PCAA has added nine countries in Category C.
The guidelines will remain in place until March 14, the notification issued by the Director Air Transport department of PCAA said.

Published 02 Mar, 2021 10:56am

Sports

Euro 2020 shrouded in uncertainty 100 days before kick-off

"That is not necessarily an attractive prospect for everyone."

Published 02 Mar, 2021 10:54am

World

Tokyo asks China to end Covid-19 anal swabs for Japanese

Officials in China have used anal swabs to test people it considers at high-risk of contracting Covid-19, including residents of neighbourhoods with confirmed cases as well as some international travellers.

Published 02 Mar, 2021 10:53am

Stocks

Most Asia markets up again after Wall St surge, stimulus in view

Eyes are now on Washington, where the Senate is due to debate Biden's economic rescue package after it passed the House at the weekend.

Published 02 Mar, 2021 10:51am

Stocks

Hong Kong stocks down at break

The Hang Seng Index slipped 0.66 percent, or 193.94 points, to 29,258.63.

Published 02 Mar, 2021 10:50am

World

Militants attack UN base in Nigeria, trapping 25 aid workers

On Friday, ISWAP fighters in trucks fitted with machine guns raided Dikwa, sending residents fleeing.

Published 02 Mar, 2021 10:48am

World

UN experts urge international probe of Navalny poisoning

They pointed out that the novel form of Novichok used in the poisoning "could only be found within and amongst state actors."

Published 02 Mar, 2021 10:47am

Technology

Twitter to boot users who persist with Covid-19 lies

Covid-19 vaccination campaigns are taking place in many countries in an effort to keep people healthy and return to pre-pandemic lifestyles.

Published 02 Mar, 2021 10:45am

Business & Finance

UK to extend virus support, may raise tax in budget

They added that Sunak must also help the economy -- which has shrunk by around 10 percent owing to the pandemic -- adjust to the "triple challenge" of Brexit, Covid and the green energy transition.

Published 02 Mar, 2021 10:43am

Pakistan

Indian passenger plane makes emergency landing at Karachi airport

Lucknow-bound IndiGo plane from Sharjah made an emergency landing at Karachi’s Jinnah International Airport on Tuesday after one of its passengers fell ill.
The patient was declared dead on arrival in Karachi by the medical team.

Published 02 Mar, 2021 10:31am

World

Freezer firm to launch probe after Japan vaccines spoiled

But it was also scrambling to secure enough special syringes needed to extract six full doses from each vial of the Pfizer vaccine.

Published 02 Mar, 2021 10:41am

World

US to impose sanctions on Russia for Navalny poisoning: report

They demanded his "immediate release" from a Russian penal colony, where he was transferred last week from a Moscow prison.

Published 02 Mar, 2021 10:40am

World

All 279 kidnapped Nigerian students released: governor

"I am happy to announce that the girls are free," Dr. Bello Matawalle told an AFP journalist. "They have just arrived in the government house and are in good health."

Published 02 Mar, 2021 10:31am

Sports

Gayle targeting third world T20 title ahead of Windies return

He is one of four openers in the West Indies squad, but said that he could be used lower down the order again.

Published 02 Mar, 2021 10:30am

World

Colombia becomes first country in Americas to receive Covax shots

Latin American countries have also independently ordered millions of vaccine doses from manufacturers worldwide.

Published 02 Mar, 2021 10:23am

Stocks

Global markets rebound as rate hike worries fade

Australia's led the way by ramping up its asset purchases to keep rates low.

Published 02 Mar, 2021 10:19am

World

U.S. failure to sanction prince for Khashoggi killing 'dangerous': U.N. expert

White House spokeswoman Jen Psaki said on Monday that the United States reserves the right to sanction the crown prince in the future if necessary.

Published 02 Mar, 2021 10:16am

Technology

Huawei CFO's lawyer disputes what HSBC knew as US extradition case resumes

Meng's arrest caused tensions between Beijing and Ottawa, and soon afterward, China detained two Canadians, who continue to have limited access to legal counsel or diplomatic officials.

Published 02 Mar, 2021 10:16am

Companies

Boeing, Australian air force say pilotless, fighter-like jet completed first test flight

The first Loyal Wingman is being used as a foundation for Boeing's Airpower Teaming System, a service being developed for various global defence customers.

Published 02 Mar, 2021 10:11am

World

Mumbai power outage could have been cyber sabotage, says minister

Millions were left without power, trains were stranded and online college exams and mobile telephone services collapsed after a grid failure that affected all of Mumbai and lasted for more than 12 hours in some parts of the city.

Published 02 Mar, 2021 10:12am

Energy

US oil may test support at $59.08

Due to a small congestion area forming between Feb. 19 and Feb. 22, oil may fail to break $59.08 in its first attempt. A bounce could occur around this level.

Published 02 Mar, 2021 10:10am

Commodities

Palm oil may fall into 3,466-3,545 ringgit range

A projection analysis on the uptrend from 3,210 ringgit reveals a realistic target zone of 3,466-3,545 ringgit range.

Published 02 Mar, 2021 10:08am

Energy

Brent oil may test support at $62.65

Oil may retreat into $59.08-$62.14 range.

Published 02 Mar, 2021 10:06am

Bullion Rate

Spot gold may fall into $1,669-$1,691 range

It might be too bold to target $1,460-$1,533 range right now. However, the preceding zigzagging fall does suggest a possible crash into this zone.

Published 02 Mar, 2021 10:05am

Bullion Rate

Gold prices edge higher as US Treasury yields retreat

US bank Wells Fargo said it has expanded its precious metals trading business, filling gaps in the market left by the withdrawal of Bank of Nova Scotia (Scotiabank).

Published 02 Mar, 2021 10:02am

Stocks

Australia shares rise as strengthened recovery hopes enliven markets

Sanford Ltd and Genesis Energy were top gainers, each rising close to 4%.

Published 02 Mar, 2021 10:01am

Stocks

Australia shares poised to gain ahead of RBA policy rate decision

The local share price index futures rose about 9%, a 27.4-point premium to the underlying S&P/ASX 200 index close.

Published 02 Mar, 2021 09:59am

Commodities

Copper on track for 3rd straight fall as weak China data weighs

China announced on Monday weaker-than-expected February activity growth in the manufacturing sector, one of the biggest consumers of industrial metals.

Published 02 Mar, 2021 09:57am

Forex

Canadian dollar rallies as investors re-embrace risk-on trade

Canada's current account deficit narrowed to C$7.3 billion in the fourth quarter from a revised C$10.5 billion deficit in the third quarter, Statistics Canada said. Canada's fourth-quarter GDP data is due on Tuesday.

Published 02 Mar, 2021 09:55am

Forex

Algeria foreign exchange reserves fall to $42 billion

The North African country uses its reserves to pay for imports of goods and services, estimated annually at $45 billion.

Published 02 Mar, 2021 09:53am

Forex

Dollar gains on reflation trade, Aussie recovers

The Aussie was last at $0.7773, after dropping to $0.7693 on Friday.

Published 02 Mar, 2021 09:51am

Forex

Dollar holds advantage over low-yielders, risk currencies slip back

On the other hand, the Australian dollar dropped as much as 0.45% before erasing some losses to trade at $0.7766, after the Reserve Bank of Australia re-committed to keeping interest rates at historic lows.

Published 02 Mar, 2021 09:49am

World

US Senator Mitt Romney recovering after fall that led to a 'lot of stitches'

Romney told reporters he went to a hospital to get stitches.

Published 02 Mar, 2021 09:48am

Pakistan

Senate election: Sindh PA speaker welcomes SC verdict

KARACHI: The Speaker Sindh Assembly on Monday welcomed the Supreme Court’s verdict on secret ballot for the Senate...

Updated 02 Mar, 2021 09:47am

Pakistan

Punjab reports 705 fresh corona cases, 13 deaths

LAHORE: There is no let up in the spread of coronaviurus, as Punjab has reported 705 fresh Covid-19 cases and 13...

Updated 02 Mar, 2021 09:47am

Pakistan

RTS, ‘fog’ technology won’t work now: Maryam

LAHORE: Pakistan Muslim League Nawaz (PMLN) Vice-President, Maryam Nawaz Sharif said on Monday that Results...

Updated 02 Mar, 2021 09:47am

Pakistan

Pakistan, China to mark 70th anniversary of diplomatic ties

ISLAMABAD: Pakistan and China will commence celebrations today to commemorate 70th anniversary of diplomatic ties...

Updated 02 Mar, 2021 09:47am

Pakistan

Naya Pakistan Housing Scheme: Construction of 406 houses begins in Eminabad, Gujranwala

LAHORE: Punjab Housing and Urban Development Minister Mian Mehmood ur Rasheed has said that under the Naya Pakistan...

Updated 02 Mar, 2021 09:47am

Pakistan

Governor, CM and NA Speaker discuss political issues

LAHORE: Governor Punjab Chaudhry Mohammad Sarwar, Chief Minister Sardar Usman Khan Bazdar and Speaker National...

Updated 02 Mar, 2021 09:47am

Pakistan

LNG case: NAB fails to submit report before AC

ISLAMABAD: The National Accountability Bureau (NAB), on Monday, failed to submit a report before the Accountability...

Updated 02 Mar, 2021 09:47am

Pakistan

1,392 fresh corona cases, 36 deaths reported across country

ISLAMABAD: Pakistan has reported 1,392 coronavirus cases and 36 deaths on Monday, taking the national death tally to...

Updated 02 Mar, 2021 09:47am

Pakistan

Army team spirit competition 2021 kicks off

RAWALPINDI: The fourth International Pakistan Army Team Spirit Competition 2021 commenced at the National...

Updated 02 Mar, 2021 09:47am

Pakistan

SHC declares Palwasha Khan eligible to contest Senate election

KARACHI: The Sindh High Court (SHC) on Monday declared Palwasha Khan, a candidate of the Pakistan People’s Party...

Updated 02 Mar, 2021 09:47am

Pakistan

Anti-polio campaign begins in Lahore

LAHORE: The Lahore district administration on Monday launched an eight-day anti-polio campaign during which 588,000...

Updated 02 Mar, 2021 09:47am

Pakistan

JUI-F leader’s ‘killer’ held

ISLAMABAD: In an intelligence-based operation, the law enforcement agencies have arrested a suspect, who, allegedly...

Updated 02 Mar, 2021 09:47am

Pakistan

Ex-minister opposes withdrawal of Covid-19 restrictions

PESHAWAR: Criticising the withdrawal of Covid-19 restrictions, former federal minister Salim Saifullah Khan said it...

Updated 02 Mar, 2021 09:47am

Pakistan

MQM-P, GDA, PML-Q assure Hafeez of support

ISLAMABAD: Finance and Revenue Minister, Dr Abdul Hafeez Sheikh has said that the 3rd March would be an historic day...

Updated 02 Mar, 2021 09:47am

Pakistan

Environment-friendly projects: Two ex-DFOs among 6 convicted for embezzlement

HYDERABAD: The Accountability Court on Monday convicted 6 persons including 2 former District Forest Officers for...

Updated 02 Mar, 2021 09:47am

Pakistan

Gilani asks PM, MNAs to vote for him

ISLAMABAD: Former premier and joint candidate of the Pakistan Democratic Movement (PDM) in Senate election Syed...

Updated 02 Mar, 2021 09:46am

Pakistan

Inflows under RDAs, INPCs: Meezan Bank webinar tomorrow

KARACHI: In order to attract more foreign inflows under the Roshan Digital Account and Islamic Naya Pakistan...

Updated 02 Mar, 2021 09:46am

Pakistan

British HC meets COAS

RAWALPINDI: Dr Christian Turner, British High Commissioner called on General Qamar Javed Bajwa, Chief of Army Staff...

Updated 02 Mar, 2021 09:46am

Pakistan

Majority of Russians believe coronavirus is a bioweapon: poll

MOSCOW: Close to two out of three Russians believe that the coronavirus is a man-made biological weapon and less ...

Updated 02 Mar, 2021 09:46am

Pakistan

Minister tells Punjab Assembly: 17m doses of vaccine to be available soon

LAHORE: Minister Health Punjab Dr Yasmin Rashid disclosed in Punjab Assembly on Monday that seventeen million doses...

Updated 02 Mar, 2021 09:46am

Pakistan

Secret balloting: Shibli terms SC opinion on Senate polls ‘historic’

PESHAWAR: Federal Minister for Information and Broadcasting, Shibli Faraz here on Monday termed the apex court’s...

Updated 02 Mar, 2021 09:46am

Business & Finance

Hedge fund boss takes home UK record pay of £343m

LONDON: Hedge fund boss Christopher Hohn set a UK record in 2020 for the biggest ever annual paycheck after he paid...

Updated 02 Mar, 2021 09:45am

Money & Banking

Early trade in New York: Dollar index rises

NEW YORK: The dollar index rose to a three-week high on Monday as investors bet on faster growth and inflation in ...

Updated 02 Mar, 2021 09:45am

Industry

‘Power sector marching towards unresolvable problems’

KARACHI: Chairman of National Business Group and President of Pakistan Businessmen and Intellectuals Forum Mian ...

Updated 02 Mar, 2021 09:45am

Business & Finance

UK firms not cutting carbon emissions enough

LONDON: One-third of Britain's biggest listed companies are not cutting carbon emissions by enough to help meet...

Updated 02 Mar, 2021 09:45am

Money & Banking

Sterling surges against dollar, euro

LONDON: Sterling edged higher against both the euro and the dollar on Monday as a swift coronavirus vaccine roll-out...

Updated 02 Mar, 2021 09:45am

Business & Finance

Italy debt soars

ROME: Italy’s public debt soared last year, rising more than 20 percentage points as the coronavirus pandemic...

Updated 02 Mar, 2021 09:44am

Taxes

ATL for Tax Year 2020 released

ISLAMABAD: The Federal Board of Revenue (FBR), Monday, released the Active Taxpayers’ List for the Tax Year 2020 ...

Updated 02 Mar, 2021 09:44am

Money & Banking

Aussie, kiwi recover

SYDNEY: The Australian and New Zealand dollars recovered against the greenback on Monday after riskier currencies...

Updated 02 Mar, 2021 09:44am

Business & Finance

Turkey emerges from Covid-19 hit with 1.8pc economic growth

ISTANBUL Turkey’s economy grew 5.9% in the fourth quarter and 1.8% in 2020 as a whole, annual data showed on...

Updated 02 Mar, 2021 09:44am

Industry

UK factory output grows at slowest since May, consumer lending slides

LONDON: British manufacturers reported their slowest output growth since May last month, hit by Brexit and...

Updated 02 Mar, 2021 09:44am

Money & Banking

Volatile Turkish lira rebounds

ISTANBUL: The Turkish lira soared 2.5% in volatile trade on Monday, rebounding decisively from its worst weekly loss...

Updated 02 Mar, 2021 09:44am

Industry

Pent-up demand driving global factory revival

• Eurozone factories buzzing amid soaring demand • Japan manufacturing expands at fastest pace in two years ...

Updated 02 Mar, 2021 09:44am

Industry

SME sector: Simplification of taxation procedures demanded

LAHORE: Participants of a three-day pre-budget consultative session conducted by the Small and Medium Enterprises...

Updated 02 Mar, 2021 09:44am

Money & Banking

UBL posts strong profits of over Rs34bn in 2020

KARACHI: UBL reported profit after tax of Rs 20.9 billion for the financial year ended 2020, which was 9% higher ...

Updated 02 Mar, 2021 09:44am

Industry

Australia home prices, job ads surge

SYDNEY: Australian home prices raced at the fastest clip in almost two decades in February and job advertisements...

Updated 02 Mar, 2021 09:44am

Industry

United orders 25 more Boeing 737 MAX planes

NEW YORK: United Airlines reached an agreement to purchase 25 more Boeing 737 MAX aircraft for delivery in 2023, the...

Updated 02 Mar, 2021 09:44am

Taxes

PRA collects Rs10.1bn in Feb

LAHORE: Punjab Revenue Authority (PRA) has collected Rs 10.1 billion in the month of February 2021 compared to Rs ...

Updated 02 Mar, 2021 09:44am

Money & Banking

Dollar climbs against majors in London

LONDON: The dollar held on to three-weeks highs against major currencies on Monday as US and euro zone bond yields...

Updated 02 Mar, 2021 09:44am

Industry

US manufacturing activity hits three-year high

WASHINGTON: US manufacturing activity increased to a three-year high in February amid a surge in new orders, but...

Updated 02 Mar, 2021 09:44am

Industry

Envoy informs KATI industrialists: Many JVs between Pakistan, Qatar underway

KARACHI: Consul General of Qatar, Mishal M Al-Ansari has informed the industrialists that many joint ventures (JVs)...

Updated 02 Mar, 2021 09:44am

Business & Finance

Hope for new momentum as Ngozi takes WTO reins

GENEVA: Ngozi Okonjo-Iweala took the reins of the World Trade Organization Monday with a daunting to-do list, not...

Updated 02 Mar, 2021 09:44am

Money & Banking

Faysal Bank sponsors 6th SOP Unified Marathon 2021

KARACHI: Promoting its mission of inclusivity, Faysal Islami, one of the leading Islamic banks in Pakistan, was the...

Updated 02 Mar, 2021 09:44am

Industry

Facing pressure, ExxonMobil names 2 new board members

NEW YORK: Facing pressure from mainstream investors as well as environmentalists, ExxonMobil on Monday named two new...

Updated 02 Mar, 2021 09:44am

Taxes

Tax-to-GDP ratio goes below average in 2 fiscal years: WB official

ISLAMABAD: World Bank’s senior tax specialist has pointed out that Pakistan’s tax-to-GDP ratio dropped and went...

Updated 02 Mar, 2021 09:44am

Industry

Agha Steel posts Rs1.057bn PAT for H1

KARACHI: Agha Steel Industries Monday announced its financial results for the half year ended on December 31, 2020....

Updated 02 Mar, 2021 09:44am

Industry

Metro Pakistan extends Covid-19 relief support to govt

KARACHI: Metro Pakistan, the leading wholesale and food retail, as part of its continuous COVID-relief support...

Updated 02 Mar, 2021 09:44am

Senate elections: SC for secret ballot; ECP asked to stay watchful

ISLAMABAD: The Supreme Court, on Monday, by majority of four against one rendered its opinion on Presidential...

Updated 02 Mar, 2021 09:41am

First 8 months of FY21: Exports grow 4.6pc YoY

ISLAMABAD: The country’s exports have posted a growth of 4.6 percent to $16.3 billion during the first eight ...

Updated 02 Mar, 2021 09:41am

Line of Control: Work on NJHP stopped due to shelling: Wapda

ISLAMABAD: Water and Power Development Authority (Wapda) revealed on Monday that work on the Neelum Jhelum ...

Updated 02 Mar, 2021 09:41am

Three Sindh PTI MPAs ‘go missing’: Khurrum

KARACHI: Pakistan Tehreek-e-Insaf (PTI) MPA and Karachi chapter chief Khurrum Sher Zaman on Monday claimed that ...

Updated 02 Mar, 2021 09:41am

Feb CPI rate rises to 8.70pc

ISLAMABAD: The Consumer Price Index (CPI) has recorded an increase of 8.7 percent on year-on-year basis in February...

Updated 02 Mar, 2021 09:41am

NA told: Debt-to-GDP ratio may soar to 87pc by end-FY21

ISLAMABAD: Finance Minister Dr Abdul Hafeez Shaikh Monday informed the National Assembly that the debt-to-GDP ratio...

Updated 02 Mar, 2021 09:41am

Around 30 MNAs meet PM

ISLAMABAD: The “ordinary” parliamentarians, who were long awaiting a glimpse of Prime Minister Imran Khan,...

Updated 02 Mar, 2021 09:41am

Opposition hails SC’s decision

ISLAMABAD: The major opposition political parties, on Monday, hailed the Supreme Court’s decision on presidential...

Updated 02 Mar, 2021 09:41am

Govt urges ECP to use technology

ISLAMABAD: The government, on Monday proposed to the Election Commission of Pakistan (ECP) for using the technology...

Updated 02 Mar, 2021 09:41am

Credit Suisse suspends supply chain finance funds

ZURICH / LONDON: The asset management arm of Zurich-based Credit Suisse said on Monday it has suspended redemptions...

Updated 02 Mar, 2021 09:41am

Remaining 3 FATF items: Hafeez asks departments to work harder

ISLAMABAD: Finance Minister Dr Abdul Hafeez Shaikh Monday asked the departments concerned to expedite efforts to...

Updated 02 Mar, 2021 09:41am

FY21 fiscal deficit projected at 7pc of GDP

ISLAMABAD: The Finance Ministry has informed the National Assembly, on Monday that the federal fiscal deficit was ...

Updated 02 Mar, 2021 09:41am

Former French president convicted for corruption

PARIS: Former French president Nicolas Sarkozy was found guilty of corruption on Monday and handed a three-year...

Updated 02 Mar, 2021 09:41am

US envoy in Kabul as questions over troop withdrawal swirl

KABUL: The US special envoy to Afghanistan touched down in Kabul on Monday for meetings with Afghan leaders, in a ...

Updated 02 Mar, 2021 09:41am

‘Confidential’ system launched: taxpayers can seek redress

ISLAMABAD: The Federal Board of Revenue (FBR) Member Inland Revenue Operations, Dr Muhammad Ashfaq Ahmed, Monday...

Updated 02 Mar, 2021 09:41am

BR Research

Interloop Limited

Interloop Limited (PSX: ILP) – one of the largest hosiery manufacturers of the world was set up in 1992 in...

Published 02 Mar, 2021 07:45am

BR Research

A slower quarter for E&Ps

The E&P sector’s production of crude oil and natural gas has been declining in recent years due to depleting...

Published 02 Mar, 2021 07:40am

BR Research

Microfinance: all-round gains

So far as key indicators are concerned, the year 2020 has apparently ended on a good note for the country’s...

Published 02 Mar, 2021 07:35am

BR Research

Petroleum levy below the IMF floor

It was only a matter of time before the government’s ability to continue to tax petroleum products was going to be...

Published 02 Mar, 2021 07:30am

Currency	Rate
USD PKR Interbank Selling / Jun 24	278.40
USD PKR Interbank Buying / Jun 24	278.20
USD to Japanese Yen / Jun 26	161.72
USD to Swiss Franc / Jun 26	0.81
Pound Sterling to USD / Jun 26	1.32
Euro to USD / Jun 26	1.14
SOFR % / Jun 24	3.62

Stock	Volume
S&P 500 / Jun 25	7,357.49
India Sensex / Jun 25	77,100.47
Nasdaq / Jun 25	25,358.60
Dow Jones / Jun 25	51,920.62
Tokyo Nikkei / Jun 26	68,853.35
Hang Seng / Jun 26	22,645.31
FTSE 100 / Jun 26	10,459.33
Germany DAX 30 / Jun 26	24,706.87
France CAC40 / Jun 26	8,385.08

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 24	18,280
Gold 10 Grams PKR / Jun 24	368,985
Petrol/Litre / Jun 26	299.50
Crude Oil USD/Barrel / Jun 26	70.44
Gold Spot USD/Ounce / Jun 26	4,032.47
Diesel/Litre / Jun 26	311.47
Cotton US¢/pound / Jun 26	76.16

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