News Archives for Latest - 2021-03-05

BR Research

Jab in the dark

As summer saunters in, the air is heavy with trepidation. Pakistan is about to open all commercial activities and...

Updated 12 Mar, 2021 05:36pm

BR Research

Poultry: maize dynamics leading from the front

As per monthly CPI for Feb-20 released earlier this week, poultry prices have once again leapt forward by an ...

Updated 06 Mar, 2021 02:13pm

Commodities

Gold holds near 9-month low as yields, dollar gain further

US jobs increased more than expected in February.
US 10-year yield rises to 1.625%.
Gold down 2% so far this week.
Silver on track for worst week since late November.

Published 05 Mar, 2021 09:56pm

Financial

Powell, oil put euro zone bonds on defensive, inflation expectations rise

Rising oil prices also put some upward pressure on borrowing costs, helping push a key gauge of the market's long-term euro zone inflation expectations to the highest levels since 2019.
The headwinds from US Treasuries remain strong but euro bond bears seem to be getting less aggressive as the ECB meeting draws closer.

Published 05 Mar, 2021 09:54pm

USA

Senate begins marathon debate on Biden's $1.9 trillion COVID-19 proposal

Senate Majority Leader Chuck Schumer thanked Senate staff for enduring the early-morning ordeal and added, "As for our friend from Wisconsin, I hope he enjoyed his Thursday evening."
Schumer was referring to Republican Senator Ron Johnson, who insisted that the text of the bill be read aloud.

Published 05 Mar, 2021 09:52pm

Forex

Sterling weakens against resurgent dollar

US Federal Reserve Chair Jerome Powell failed to soothe investor concerns about a recent surge in borrowing costs as he spoke at a Wall Street Journal forum on Thursday, pushing the safe-haven dollar higher.
Sterling fell to a three-week low against the dollar, briefly dropping below $1.38. It was last down 0.6% at $1.3810.

Published 05 Mar, 2021 09:49pm

Sports

Scotland 'absolutely intent' on hosting Euro 2020, says Sturgeon

The tournament was postponed by a year to June due to the pandemic and there remain questions over UEFA's plan to host the event in 12 cities across the continent.
Speaking at a daily coronavirus briefing, Sturgeon said: "Nobody wants to lose the Euros and I don't think we should be in the position right now of thinking that is the case.

Published 05 Mar, 2021 09:47pm

Companies

Norwegian Air says Boeing dispute to be decided in US court

Norwegian Air asked Ireland's High Court to issue repudiation orders for three sales contracts with Boeing, but lawyer Declan Murphy said this was not intended to take precedence over ongoing US legal action on the contracts.

Published 05 Mar, 2021 09:45pm

USA

Spike in Canada exports to US leads to surprise January trade surplus

Canada's trade surplus with the rest of the world was C$1.41 billion ($1.11 billion) in January, the largest since July 2014. Analysts polled by Reuters had predicted a deficit of C$1.40 billion.
"In a sea of really bad news this is an island paradise. Everything is up," said Peter Hall, chief economist at Export Development Canada.

Published 05 Mar, 2021 09:43pm

Stocks

London Stock Exchange shares 'spooked' by costs from Refinitiv

Revenue up 3% to 2.1 billion pounds.
Adjusted operating profit up 5% to 1.1 billion pounds.
Shares fall 12% after Citi downgrade.
LSE CEO expects cull of senior leadership.

Published 05 Mar, 2021 09:41pm

Sports

Injured Azarenka withdraws from Qatar Open semis, Muguruza into final

The eighth-seeded Belarusian was scheduled to face Garbine Muguruza, who received a walkover into Saturday's final.
Muguruza will meet the winner of the Friday's second semi-final between Czech Petra Kvitova and American Jessica Pegula.

Published 05 Mar, 2021 09:38pm

Forex

Latam FX struggle against buoyant dollar; Surging oil lifts Colombian peso

MSCI Latam FX index on track for worst day in five months.
Oil prices lift Colombian peso.
Colombia's new deficit forecast raises downgrade prospect –CS.

Published 05 Mar, 2021 09:36pm

Forex

South Africa's rand heads for weekly loss, Sasol leads stocks higher

Stocks ended higher, led by petrochemical firm Sasol's 14% surge.
The currency was on track to post losses of 2.2% since Monday.
Emerging market currencies have felt the pinch globally as the US Dollar reminded currency markets of its power as the world's reserve currency.

Published 05 Mar, 2021 09:33pm

Stocks

S&P 500 rises after solid jobs report

Costco drops after profit miss.
Banks rally after nonfarm payrolls report.
Indexes: Dow up 0.2%, S&P rises 0.1%, Nasdaq down 0.3%.

Published 05 Mar, 2021 09:28pm

Asia

Pope urges Iraqis to shun past violence and give peace a chance

“May the clash of arms be silenced ... may there be an end to acts of violence and extremism,” he said, addressing Iraqi President Barham Salih, politicians and diplomats at the presidential palace.
Francis arrived at Baghdad airport under tight security, after telling reporters on his plane that he felt duty-bound to make the “emblematic” trip because the country “has been martyred for so many years”.

Published 05 Mar, 2021 09:27pm

Companies

Main Volkswagen brand speeds up shift to electric

EVs seen comprising 70% of VW brand sales in Europe by 2030.
Up from a previous target of 35%.
16 bln euros in e-mobility, other investments by 2025.

Published 05 Mar, 2021 09:25pm

Europe

Swiss plan free coronavirus tests for population

Under the proposals each person would be given five self-test kits per months, as soon as reliable tests are available, the government said, while all tests at pharmacies and testing centres will be free of charge.
To ensure more testing is carried out, the government proposed to pay for the voluntary tests. It estimated the expanded testing scheme will cost more than 1 billion francs this year.

Published 05 Mar, 2021 09:23pm

Pakistan

“Every political party and politician should have the courage to accept defeat,” says ECP in response to PM Khan’s speech

“ECP cannot do any amendment against the law, and if anybody has reservation, the constitutional way is open for all,” says the electoral body.
The national institutions should be allowed to work without any pressure, said ECP.

Updated 05 Mar, 2021 09:26pm

USA

US job growth beats expectations in February

Nonfarm payrolls surged 379,000 jobs last month after rising 166,000 in January, the Labor Department said on Friday. In December, payrolls fell for the first time in eight months.
Federal Reserve Chair Jerome Powell on Thursday offered an optimistic view of the labor market, but cautioned a return to full employment this year was "highly unlikely."

Published 05 Mar, 2021 09:20pm

Pakistan

DRAP approves Sinopharm vaccine for people above 60 years

NCOC states that the Sinopharm vaccine is being administered to people up to the age of 60 years, however, it would now be used to inoculate citizens above 60 years of age too
On February 2, the first batch of 500,000 doses of Sinopharm vaccine arrived in Pakistan as a gift from China

Updated 05 Mar, 2021 09:22pm

Energy

US natgas futures hold at 5-week low on milder forecast

Traders, however, noted the weather is expected to turn slightly cooler in mid March, which should boost heating demand a bit during the week of March 14 over the week of March 7.
Front-month gas futures fell 0.8 cents, or 0.3%, to $2.738 per million British thermal units.

Published 05 Mar, 2021 09:18pm

Commodities

Nickel firms but remains set for biggest weekly loss since 2011

The metal is mainly used in stainless steel, but demand for battery grade nickel for electric vehicles is expected to boom in as the world moves towards a lower-carbon economy.
Benchmark three-month nickel edged up 1.5% to $16,379 a tonne in official trading but was still on track for a weekly loss of about 11%, its biggest since September 2011.

Published 05 Mar, 2021 09:15pm

Europe

Denmark pushes back date for all citizens to be vaccinated to July

Health authorities previously expected the vaccination programme to be completed by June 27, but delays in shipments of the two companies' shots have pushed that date back, B.T. and broadcaster TV 2 reported on Friday.

Published 05 Mar, 2021 09:13pm

Sports

Kabak an injury doubt for Fulham clash as Liverpool suffer another injury blow

Kabak, who joined Liverpool on loan from Schalke 04 at the start of February, has started the last five games for the Merseyside club, including Thursday's 1-0 defeat by Chelsea.
"Ozan had yesterday after the game a little problem. He has played a lot of games now and we will see if he is ready for Fulham," Klopp told a news conference on Friday.

Published 05 Mar, 2021 09:11pm

USA

Abbott's test to distinguish coronavirus and flu viruses gets US authorization

The test, Alinity m Resp-4-Plex, can be conducted with one nasal swab sample and can differentiate the coronavirus, flu A, flu B and another respiratory virus called respiratory syncytial virus (RSV), the company said.
Abbott has a range of COVID-19 tests, including antigen, molecular and serology tests which have been authorized for emergency use by the US Food and Drug Administration.

Published 05 Mar, 2021 09:09pm

South Asia

China's COVID-19 vaccine production capacity may cover 40pc of population by mid-2021

"The possibility exists," Gao said, but cautioned that translating production capacity into actual products that meet necessary standard was "a complicated process".
Sinovac Biotech said early this week that annual production capacity of the firm's two-dose vaccine CoronaVac could hit 2 billion doses by June.

Published 05 Mar, 2021 09:09pm

Money & Banking

Bank of England should push back against growth risks: Haskel

Commercial banks should follow BoE advice to make sure they are ready to implement negative interest rates, although the central bank does not yet know if they will be needed later this year, Haskel added.
Risk management considerations dictate that policy should lean strongly against downside risks to the outlook and I remain open to the possibility that the economy might need further support to return inflation to the target sustainably.

Published 05 Mar, 2021 09:05pm

USA

Oxford study indicates AstraZeneca effective against Brazil variant

The source did not provide the exact efficacy of the vaccine against the variant. They said the full results of the study should be released soon, possibly in March.
The information comes as a small-sample study suggested the COVID-19 vaccine developed by China's Sinovac may not work effectively against the Brazilian variant.

Published 05 Mar, 2021 09:00pm

Africa

Rwanda becomes first African nation to use Pfizer COVID-19 vaccine

Authorities began transporting Pfizer and AstraZeneca shots round the hilly nation of 12 million people after they arrived earlier this week, using helicopters to reach far-flung parts.
The Kagame government, which prides itself on efficiency and technological prowess but is often criticised as authoritarian, has installed special infrastructure to keep the Pfizer vaccine at the required -70 degrees.

Published 05 Mar, 2021 09:02pm

USA

Biden beefs up White House staff, including Big Tech critic Wu

Wu authored "The Curse of Bigness: Antitrust in the New Gilded Age" in 2018, in which he warned about the inequalities created by extreme economic concentraion.
"Putting this twitter feed on hold for now -- so long!" Wu, said in a post on Friday.

Published 05 Mar, 2021 08:58pm

USA

US denies report of potential sanctions on Lebanese central bank chief

"We have seen reports about possible sanctions on Riad Salameh. They are untrue," the spokesperson told Reuters.

Published 05 Mar, 2021 08:58pm

Industry

Reddit hires former Snap exec Drew Vollero as first CFO

"Going public one day is something we think about but we do not have specific plans and a timetable," a spokeswoman told Reuters.
Reddit on Friday also disclosed a 90% surge in advertising revenue during the fourth quarter, while daily active users jumped to more than 52 million.

Published 05 Mar, 2021 08:55pm

Companies

China's Shandong Yulong Gold to buy Australia's Barto for $188mn in debt

Shandong Yulong Gold, which used to make steel pipes before changing its name and business focus, said in a statement to the Shanghai Stock Exchange its Lanjing Mining subsidiary would acquire 100% of Barto and control its gold mining operations in Western Australia.
Barto's operations, in the Southern Cross greenstone belt, are currently managed on behalf of Shandong Tianye by West Perth-based explorer Minjar Gold.

Published 05 Mar, 2021 08:49pm

Europe

Britain brings in new paperwork for lockdown travellers

Under current lockdown rules, holidays are banned and only those travelling for specific work or family reasons are allowed to go abroad. The government said the new form would help it to police those rules.
Britain has said that people might be able to travel again from mid-May, with more information due in mid-April.

Published 05 Mar, 2021 08:51pm

Forex

Loonie adds to week's gains as Canadian exports jump

Canadian dollar rises 0.1% against the greenback.
Canada posts a trade surplus of C$1.4 billion in January.
Price of US oil increases 2.7%.
Canada's 10-year yield touches a 13-month high at 1.544%.

Published 05 Mar, 2021 08:47pm

Sports

Guardiola hails special Man City squad as derby challenge looms

Spaniard Guardiola spent trophy-laden seasons with Barcelona and Bayern Munich before joining City ahead of the 2016-17 season and has since guided them to two league titles, three League Cups and the FA Cup.
"I had incredibly hungry teams in my career, lucky to be together in Barcelona and Bayern. To do what we've done in these four years, still winning ... these guys have something special," Guardiola told reporters.

Published 05 Mar, 2021 08:47pm

Europe

Poland's cases of British coronavirus variant rising

At the start of January, the share of the British variant was around 5% ... Now, the most recent tests show that the share has been systematically growing and for the last 21 days we have almost 25%."
"The virus in the British version develops so fast as it is of course much more contagious," he said, adding that the variant share was even as high as 70% in random tests.

Published 05 Mar, 2021 08:42pm

South Asia

Japan extends COVID-19 state of emergency in Tokyo area, PM apologises

Japan's government extends state of emergency in Tokyo area.
Order applies to Tokyo and three surrounding prefectures.
Tokyo is due this year to host the Olympic Games.

Published 05 Mar, 2021 08:39pm

Europe

UK's 2021 growth outlook not 'strong': BoE's Haskel

A number of people have talked about a 'strong' forecast. I find that rather misleading, because of course it is from a very low base. If you go down by 25% then you go up by 25% ... it doesn't take you back to where you started."
British government forecasters predicted on Wednesday a 4.0% expansion this year and 7.3% growth in 2022, after a historic 9.9% collapse in 2020.

Published 05 Mar, 2021 08:37pm

Sports

Tuchel says Chelsea players deserve praise for resurgence

Chelsea beat champions Liverpool 1-0 on Thursday to climb to fourth in the table, a prospect that looked bleak when Lampard was dismissed with the team in ninth place.
"It's proven that Chelsea is an organisation and a club that has everything that you need to be successful as a coach and as a football team, so now it's my job to bring out the very best of myself, together with the team.

Published 05 Mar, 2021 08:34pm

Europe

France drops negative COVID-19 test requirement for Irish hauliers

Irish traders are increasingly shipping goods directly to and from European ports, rather than the once-speedier route via the so-called UK landbridge, as a result of red tape and delays after Britain's exit from the European Union.
The Irish transport ministry said in a statement the French government had informed it of the decision.

Published 05 Mar, 2021 08:32pm

Energy

Oil guzzler India says OPEC+ decision to hit economic recovery

As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market.
"The decision by OPEC+ has saddened us. It is not good news for India, China, Japan, Korea and other consuming nations," Pradhan said.

Published 05 Mar, 2021 08:32pm

Energy

Oil surges $2 after OPEC+ extends output cuts

Saudi Arabia surprises with continued voluntary cuts.
OPEC+ producers keep curbs, agree only small output boost.
Decision could affect oil inventories into 2022.
Brent and WTI on track for weekly gains.

Published 05 Mar, 2021 08:28pm

Forex

Dollar jumps as US jobs growth beats expectations

The jobs improvement came amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting the labor market recovery back on firmer footing and on course for further gains in the months ahead.
"This is a rather impressive nonfarm payroll report," said Edward Moya, senior market analyst at OANDA in New York.

Published 05 Mar, 2021 08:26pm

Companies

Canada approves J&J's one-dose COVID-19 vaccine

The official announcement will be made later on Friday, said the source, who requested anonymity given the sensitivity of the situation.
If the J&J vaccine has been approved, it could ease some logistical challenges. The vaccine is administered in a single dose and can be stored in normal fridges while the Pfizer-BioNTech and Moderna shots must be kept in freezers.

Published 05 Mar, 2021 08:28pm

Pakistan

PDM to boycott National Assembly session tomorrow: Fazlur Rehman

“No member of the PDM will participate in tomorrow's National Assembly session,” says JUI-F Chief.
"We believe blaming the ECP [for their loss] in Senate election is not the matter," he said.

Updated 05 Mar, 2021 08:26pm

USA

White House adviser says more aid needed given deep US jobs hole

"We remain in a jobs hole that is deeper than that of the Great Recession," Council of Economic Advisers member Heather Boushey said in an interview. "This remains a crisis."

Published 05 Mar, 2021 08:12pm

Commodities

Robusta coffee prices weaken, cocoa also down

May robusta coffee was down $13, or 0.9%, at $1,393 a tonne.
May London cocoa fell by 13 pounds, or 0.7%, to 1,793 pounds a tonne, extending its retreat from a three-month high of 1,822 pounds set on Wednesday.

Updated 05 Mar, 2021 08:19pm

Stocks

TSX gains on energy boost, surprise trade surplus

The energy sector advanced 3.8% as US crude prices rose 2.9% a barrel, while Brent crude added 3.1%.
Toronto Stock Exchange's S&P/TSX composite index was up 91.34 points, or 0.5%, at 18,217.06.

Updated 05 Mar, 2021 08:09pm

Pakistan

Punjab govt debunks fake notification announcing schools to be closed

The official Twitter account of the provincial school education department on Friday dismissed the notification and declared it fake.
The notification said schools in Lahore, Gujranwala, Rawalpindi and Faisalabad would be closed for a week.

Published 05 Mar, 2021 07:34pm

South Asia

Japan to extend Tokyo area state of emergency to March 21

Under the state of emergency, the government has requested restaurants and bars close by 8 p.m. and stop serving alcohol an hour earlier. People are also asked to stay home after 8 p.m. unless they have essential reasons to go out.
Suga made the announcement, echoing an earlier one made by the Economy Minister, at the start of a meeting on handling the coronavirus.

Published 05 Mar, 2021 07:32pm

Forex

Britain starts countdown on Libor's 'final chapter'

"Today's announcements mark the final chapter in the process that began in 2017, to remove reliance on unsustainable Libor rates and build a more robust foundation for the financial system.
"With limited time remaining, my message to firms is clear - act now and complete your transition by the end of 2021."

Published 05 Mar, 2021 07:32pm

Energy

Russia's Sakhalin Energy makes changes to LNG output after equipment failure

It said it was also "optimising" production at the Lunskaya A offshore platform , which mainly produces gas for the LNG plant, and evaluating the impact on LNG loading schedules.
Sakhalin Energy produced and shipped record volumes of LNG in 2020 topping 11.6 million tonnes.

Published 05 Mar, 2021 07:28pm

Financial

Greece to auction one-year T-bills on March 10

The debt agency last sold one-year T-bills in September last year with the paper priced to yield 0%. The settlement date of the new T-bills will be March 12.
Only primary dealers will be allowed to participate and no commission will be paid. Primary dealers can submit non-competitive bids for up to an additional 30% of the auctioned amount until March 11, PDMA said.

Updated 05 Mar, 2021 07:30pm

Africa

S.Africa in African Union talks on COVID-19 shots for 10 million people

S.Africa lags wealthier nations in vaccinations.
Seeks large volume of doses via continental platform.
Trying to sell AstraZeneca stock at same time.
Prefers Pfizer, Johnson & Johnson shots for now.

Updated 05 Mar, 2021 07:26pm

Pakistan

MQM-P, PML-Q express full confidence in PM Imran

Both delegations met the Prime Minister separately in the Federal Capital, Islamabad.
The Khalid Maqbool Siddiqui-led MQM-P reminded the prime minister of his promises and expresses concerns over the sale of government jobs in Sindh, the murder of merit and withdrawal of security from several MQM-P’s leaders.

Updated 05 Mar, 2021 07:04pm

Industry

UK's Tesco commits to healthy food sales target after shareholder pressure

Some investors have been calling for Tesco, which has 27% of the UK's grocery market, to sell more healthy food, saying it was lagging rivals in its efforts to encourage healthy eating and combat obesity in the country.
Tesco said on Friday its 65% healthy products sales target would represent a jump from the current level of 58% and it would use the government's nutrient profiling model to define those products.

Published 05 Mar, 2021 06:58pm

Commodities

Platts to launch 'green' aluminium prices in April

The metals sector has struggled with adopting common standards for low-carbon aluminium as rival producers fight for market share among consumers who are under pressure to cut their own emissions footprints.
S&P Global Platts said it would start issuing daily prices for both low-carbon and zero-carbon aluminium on April 6.

Published 05 Mar, 2021 06:53pm

Companies

SoftBank strategy chief Sago to step down

Sago, a Goldman Sachs alumnus and former chief investment officer of Japan Post Bank Co where he was one of "Seven Samurai" who engineered a more aggressive investing approach, took the newly created strategy job at SoftBank in 2018.
Sago "played a crucial part in expanding SBG's potential as an investment company," Son said in a statement, which did not provide a reason for the departure.

Published 05 Mar, 2021 06:53pm

Money & Banking

Morgan Stanley expands Black recruitment program

The structure was meant to cast a wider net to reach qualified candidates typically missed by the traditional Morgan Stanley recruitment process.
We're looking for candidates that demonstrate success in their previous careers and a willingness to adapt and understand the transferable skills that would be relevant and beneficial in our world.

Published 05 Mar, 2021 06:47pm

Commodities

South Korea's MFG buys about 130,000 tonnes of feed wheat

The feed wheat was purchased in two 65,000 tonne consignments at an estimated $282.86 a tonne c&f for arrival in South Korea around Aug. 24 and at $275.14 a tonne c&f for arrival in South Korea around Sept. 24.
If the August arrival consignment is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between July 21 and Aug. 9.

Published 05 Mar, 2021 06:42pm

Europe

Turks eye interest-free property funding amid soaring borrowing costs

The so-called "savings financing system" has been used in Turkey since 1991, but a lack of official scrutiny of the creditors has so far kept some borrowers away.
Under the cooperative system, customers agree to make payments for a number of years totalling the amount they wish to borrow plus a 7%-10% additional cost that is not strictly considered to be interest.

Published 05 Mar, 2021 06:39pm

Companies

Chevron to buy out Noble Midstream in all-stock $1.32bn deal

Noble Midstream's unitholders will get 0.1393 Chevron shares for each unit held under the new agreement, Chevron said.
Chevron's shares were up 2.4% at $107.39 in pre-market trading on Friday, boosting the deal value to about $14.96 per Noble Midstream share. The pipeline operator's units were down marginally at $15.

Published 05 Mar, 2021 06:31pm

Europe

Australia asks EU to review block of AstraZeneca vaccine

Italy, EU blocked shipment of AstraZeneca shots to Australia.
Move meant to sanction AstraZeneca for delays in EU supplies.
Millions of EU-made vaccines exported to dozens of countries.
Australia sees no impact on its rollout.

Published 05 Mar, 2021 06:35pm

Energy

Russian gas transit via Ukraine falls in February

Russian and Ukrainian gas firms signed a five-year deal at the end of 2019 safeguarding the transit of Russian gas to Europe via Ukraine.

Published 05 Mar, 2021 06:32pm

Europe

COVID-19 prevalence in England falls to 1 in 220 people infected

That is down from 1 in 145 people estimated to have coronavirus in the previous week's ONS Infection Survey, a widely watched estimate of community prevalence of COVID-19 infections.

Published 05 Mar, 2021 06:29pm

Sports

Bruce defuses Ritchie row, vows to find Newcastle leak

"Look, there's no denying that I've had a row with Matt Ritchie, but let me tell you that happens up and down training grounds every other week," Bruce told.
You're dealing with 25 men, emotions run high, fiercely competitive - these things happen unfortunately, and unfortunately for us with Newcastle, of course it gets blown to all sort of proportions.

Published 05 Mar, 2021 06:26pm

Commodities

Pakistan believed to pass in 300,000 tonnes wheat tender

Offers in the tender from the Trading Corporation of Pakistan (TCP) which closed on Tuesday were regarded as too high at a time when Pakistan's own grains harvest is starting, a trader said.
Wheat prices have risen since Russia announced grain export taxes to reduce its overseas shipments and cool Russian domestic prices.

Published 05 Mar, 2021 06:25pm

Sports

Bayern teenager Musiala signs first pro contract to 2026

Musiala joined Bayern's Under-17s in 2019 from Chelsea and has quickly developed to earn playing time with the senior team and is also expecting a call-up from the German national side.
"We are very happy that Jamal signed his first contract and it was a long-term one for Bayern," the club's sports director Hasan Salihamidzic said in a statement.

Published 05 Mar, 2021 06:23pm

Industry

Mexico auto exports, output tumble in February

Auto output tumbled by 28.85% from February 2020 to 238,868 units, the figures showed, while auto exports declined 21.80% from the same month a year earlier to 213,987 units.

Published 05 Mar, 2021 06:21pm

Money & Banking

Bank of Canada's next move to be tapering asset purchases

The consensus of the March 1-5 poll predicted the BoC would keep its key interest rate on hold at 0.25% through to the end of next year, unchanged from the previous poll.
More than 70% of poll participants, or 15 out of 21, who responded to an additional question, said the central bank would taper its asset purchases programme as its next move.

Published 05 Mar, 2021 06:19pm

Africa

Cheers and hope as doctor gets Nigeria's first COVID-19 vaccine

"I am happy to be the first and I am happy I am not the last," the doctor, 42-year-old Ngong Cyprian, told Reuters. "I want everybody to be vaccinated."
Two other male doctors and one female nurse were also inoculated in white tents draped in green, the colours of the national flag, while cameras rolled and officials clapped and cheered.

Published 05 Mar, 2021 06:17pm

Europe

Germany to pay nuclear operators 2.6bn euros for plant closures

Vattenfall gets bulk of payment from state budget.
Will drop claim in international arbitration court.
Deal needs green light from German parliament, EU.

Published 05 Mar, 2021 06:15pm

Forex

Bitcoin miner Cipher to go public via $2bn SPAC merger

The deal will provide the merged entity with gross cash proceeds of $595 million, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley's Counterpoint Global.
Good Work, a special purpose acquisition company, or SPAC, raised $150 million through an initial public offering last year.

Published 05 Mar, 2021 06:12pm

Stocks

Bondfires smoulder, shares struggle ahead of US jobs data

Bond yields rise after Fed's Powell stays away from action.
World shares on longest losing streak since September.
Oil prices jump as OPEC and allies hold off supply rise.
Dollar climbs, gold takes a bashing.

Published 05 Mar, 2021 06:10pm

Money & Banking

Credit Suisse winds down $10 billion Greensill-linked funds

The fund boards have now decided to terminate the funds. Credit Suisse Asset Management's priority is to ensure a balance between a timely liquidation of the funds and maximizing value for the investors.
Credit Suisse said the funds had experienced "reduced availability of insurance coverage for new investments", but declined to say if existing investments were protected.

Published 05 Mar, 2021 06:07pm

Commodities

China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year

Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday.
Revenues were up only 2.3% year-on-year to 86.14 billion yuan, however, with Hongqiao also attributing its bumper earnings to lower production costs and lower impairment losses compared with a year earlier.

Published 05 Mar, 2021 06:05pm

South Asia

India steps up border patrols to stop arrivals from Myanmar

"As of now, we are not letting anybody enter," Maria Zuali, senior government official in Mizoram state's Champhai district, told Reuters by telephone.
"They alleged that there are human rights violations and they were asked to shoot at civilians," the official said, also requesting anonymity.

Published 05 Mar, 2021 05:59pm

Money & Banking

UBS heads into record 4.5bn euro French tax case appeal

Swiss rival Credit Suisse is under investigation over whether it helped some 2,650 Belgians hide their accounts from tax authorities. Credit Suisse says it has strictly complied with all applicable laws.
The bank has denied any wrongdoing. It has so far set aside a tenth of that amount, or 450 million euros, to cover the penalties.

Published 05 Mar, 2021 05:57pm

South Asia

Freedom House demotes India from 'free' to 'partially free'

India has been downgraded from ‘Free’ to Partially Free’ in the annual report published by Freedom House, a Washington-based pro-democracy think tank and human rights watchdog.
Published this week, the latest report marks the 4th consecutive year of democratic backsliding under the Modi government, highlighting that the country appears to be inching closer to authoritarianism.

Updated 05 Mar, 2021 06:00pm

Europe

Italy's Lazio region asks government to consider producing Sputnik V COVID-19 vaccine

"I have asked the government to consider producing in Italy the Russian vaccine Sputnik V," Lazio's health chief Alessio D'Amato said in a statement.
"Italy should consider reserving some shots to be ready if and when EMA and (national regulator) Aifa give their approval," D'Amato said.

Published 05 Mar, 2021 05:55pm

Europe

EU must be united over Russian, Chinese COVID-19 vaccines

Russian and Chinese vaccines await EU regulator's approval.
French minister warns about EU unity, public health.

Published 05 Mar, 2021 05:53pm

Energy

LNG shipping market primed for growth after scramble for supply

A cold snap in Europe and Asia in January and in North America last month increased heating demand, prompting prices to jump in several markets, while inventories fell.
You need to replenish stocks because of the cold northern hemisphere winter in both Asia and in Europe. So, we think this is going to add to tonne miles.

Published 05 Mar, 2021 05:50pm

USA

Brazil industrial output rises in January, but at slowest pace in nine months

January's 0.4% increase in industrial output was exactly in line with the median estimate in a Reuters poll of economists, while the year-on-year rise of 2.0% was slightly below the poll forecast of 2.2% growth.
"Industry kept up its positive performance, but decelerated in January," said IBGE survey manager Andre Macedo.

Published 05 Mar, 2021 05:48pm

Europe

UK's Prince Philip transferred back to private hospital, Buckingham Palace says

Philip, the Duke of Edinburgh who has been hospitalised for more than two weeks, was moved to a London hospital with a specialist cardiac centre on Monday for treatment for a pre-existing heart issue.
"The Duke is expected to remain in hospital for continuing treatment for a number of days," the palace said in a statement.

Updated 05 Mar, 2021 05:50pm

Europe

UK to publish post-Brexit defence and foreign policy review on March 17

The long-awaited document, known as the 'integrated review', has previously been billed by Johnson as the "biggest review of our foreign, defence, security and development policy since the end of the Cold War".

Published 05 Mar, 2021 05:45pm

Forex

Dollar gains across the board as Powell sticks to script

The Swiss franc fell to a seven-month low of 0.93110 francs per dollar and was flat at 0.92765.
We didn't get it and the dollar is pushing higher across the board on expectations of further increases in US yields.

Published 05 Mar, 2021 05:23pm

Commodities

Gold slides to 9-month low as high yields, dollar dull appeal

US 10-year yields hold above 1.5%.
Gold down 2% on the week.
Silver on track for worst week since late-November.

Published 05 Mar, 2021 05:19pm

Stocks

Sri Lankan shares end higher on industrial, financial boost

The benchmark stock index gained 0.75% to end at 7,054.49. However, it fell 5.6% for the week, its worst weekly performance since March 20 last year.
Trading volume on the CSE All Share Index fell to about 77 million from 133.8 million in the previous session.

Published 05 Mar, 2021 05:13pm

Stocks

Futures rebound ahead of pivotal jobs data

Futures up: Dow and S&P 0.3%, Nasdaq 0.2%.
Benchmark 10-year US Treasury yields shot back above 1.5% mark, closing in on its highest level since mid-February last year.

Published 05 Mar, 2021 05:13pm

Pakistan

Fawad Chaudhry terms ECP’s response ‘inappropriate’

“ECP is respectable to us and will remain”, said Fawad.
“We are not planning to hold any protest in front of the supreme electoral body,” said federal minister.

Published 05 Mar, 2021 04:44pm

Business & Finance

PM directs economic team to resolve flying invoices issue

The Prime Minister said that the issues with the taxation system should be resolved whereas the tax code should be further simplified to facilitate business persons.

Updated 05 Mar, 2021 04:43pm

Business & Finance

Pakistan to chair CTD of the World Trade Organisation for 2021

“Under Pakistan’s leadership, the CTD would strive to work for expansion of trade & investment opportunities for Developing Countries,” Dawood added.

Published 05 Mar, 2021 03:45pm

Technology

WhatsApp introduces Private & Secure calling from Desktop

Answering on a bigger screen makes it easier to work with colleagues, see your family more clearly on a bigger canvas, or free up your hands to move around a room while talking.

Published 05 Mar, 2021 03:26pm

World

Austrian panel recommends AstraZeneca COVID-19 shot for over-65s

The panel recommended in January that the vaccine only be given to people aged 18 to 64.

Published 05 Mar, 2021 03:17pm

Stocks

FTSE Russell says will delete Xiaomi from global indexes on US order

Xiaomi did not immediately respond to a request for comment.

Updated 05 Mar, 2021 03:17pm

World

Biden nominates Pakistani-American as Deputy Administrator of Small Business Administration

If confirmed by the US Senate, I will put my heart & soul into helping small businesses everywhere in these challenging times," Dilawar Syed tweeted.

Published 05 Mar, 2021 03:09pm

Pakistan

PM Imran summons PTI, allied parties meeting today

The meeting will take place at Parliament House this afternoon.
He would also brief participants about purpose of obtaining the vote of confidence from the parliament.

Published 05 Mar, 2021 02:22pm

Pakistan

PTI challenges re-polling decision in Daska's NA-75 constituency

The PTI candidate has pleaded the court to nullify the ECP’s decision of re-polling in NA-75
The ECP had declared the Daska by-election as void and ordered fresh poll/re-poll in the entire constituency on March 18

Updated 05 Mar, 2021 01:19pm

Pakistan

Coronavirus cases rise by 30% in a week after government eases restrictions

Last month, the NCOC eased most of the restrictions, allowing commercial activities, schools, offices and other workplaces to function fully.
1579 cases were reported during the past 24 hours.

Published 05 Mar, 2021 12:39pm

Business & Finance

Dairy farmers & wholesalers raise Milk rates further

From March 1, the price of milk has been increased by Rs 10 per liter, yoghurt is being sold at Rs 200 per liter, the new rate has been applied to all major shops in the city.

Published 05 Mar, 2021 12:31pm

Business & Finance

Illegal cigarettes worth Rs 20mn confiscated

On inquiry, it was also found that FED amounting to Rs.4.95 million and Sales Tax amounting to Rs. 1.678 million was not deposited in Government Exchequer against supplies of aforesaid cigarettes.

Published 05 Mar, 2021 11:43am

World

Australian court upholds landmark suit against Johnson & Johnson

Victims said the mesh -- designed to support weakened muscles holding up the pelvic organs -- had caused disastrous side-effects including incontinence, infections and chronic pain.

Published 05 Mar, 2021 11:30am

Sports

Australia win toss and bat in fourth New Zealand T20

"It's important we start well with the ball in hand and pick up some learnings from that last performance," he said.

Published 05 Mar, 2021 11:28am

Stocks

Tokyo stocks close lower on price concerns

The benchmark Nikkei 225 index slid 0.23 percent or 65.79 points to end at 28,864.32.

Published 05 Mar, 2021 11:24am

Business & Finance

Hafeez Sheikh's loss could lead to change of guard at Finance Ministry, say Experts

The report was of the view that Sheikh can continue to be the FM for an additional 3 months before the expiration of the six months grace period.

Updated 05 Mar, 2021 11:27am

Stocks

GameStop spikes as investors eye cryptic tweet by shareholder

Cohen's RC Ventures activist firm reached a settlement with GameStop in January, giving Cohen seats on the company's board.

Published 05 Mar, 2021 11:22am

Companies

Toshiba sees Mizuho join BlackRock in building 5% stake

Toshiba, which is embroiled in a long-running row with activist shareholders including Singapore-based Effissimo, has said the return to the TSE's first section would lure buying from investors in stock indexes. Toshiba rejoined Japan's Topix index of top tier shares on Feb. 25.

Published 05 Mar, 2021 11:19am

Financial

Indonesia central bank says ready for market intervention to stabilise rupiah

The rupiah traded at 14,300 per dollar at 0325 GMT, down 0.3% from a day earlier. The currency has dropped more than 1% in slightly over a week.

Published 05 Mar, 2021 11:18am

Commodities

Palm oil firms for third day, rising stocks forecast caps gains

Palm has gained 1.4% so far this week.

Published 05 Mar, 2021 11:16am

World

New Zealand to lift coronavirus lockdown in biggest city on Sunday

Ardern imposed a seven-day lockdown on the city of 2 million last Saturday, continuing its "go hard, go early" response throughout the coronavirus crisis.

Published 05 Mar, 2021 11:12am

Energy

Oil prices surge as OPEC+ extends output cuts into April

Analysts are reviewing their price forecasts to reflect the continued supply restraint by OPEC+ as well as US shale producers, who are holding back spending in order to boost returns to investors.

Published 05 Mar, 2021 11:10am

World

Biden, Guatemalan President Giammattei spoke on addressing impact of migration, hurricanes

Both Presidents agreed for their respective teams to meet in the coming weeks to develop an effective and humane plan of action to manage migration.

Published 05 Mar, 2021 11:08am

Commodities

Soybeans up for 4th week as LatAm weather supports prices

Most Ukrainian winter grain crops are in excellent condition thanks to favourable weather that could lift the 2021 harvest to a record high above 75 million tonnes, a senior government official said on Thursday.

Published 05 Mar, 2021 11:06am

World

Germany's confirmed coronavirus cases rise by 10,580

The reported death toll rose by 264 to 71,504, the tally showed.

Published 05 Mar, 2021 11:04am

Commodities

Most base metals fall as dollar firms; LME nickel set for worst week since 2011

LME nickel, despite rebounding 0.6% to $16,230 a tonne, was on track for its biggest weekly loss since September 2011 after shedding a combined 14% in the previous two sessions.

Published 05 Mar, 2021 11:01am

Sports

Salah was feeling the intensity, Klopp says after Chelsea defeat

Former Liverpool defender Jamie Carragher said the Merseyside club must take action in the summer transfer window to address their goal-scoring problem.

Published 05 Mar, 2021 10:59am

Forex

Turkish lira recovers ground after touching weakest since Dec. 25

The lira stood at 7.5250 against the dollar by 0429 GMT, off about 0.2% from Thursday's close.

Published 05 Mar, 2021 10:57am

Business & Finance

China sets 'low bar' for GDP growth, pledges more jobs

There was also no target for job creation over the next five years, though the government said China's urban survey-based jobless rate will be kept under 5.5%.

Published 05 Mar, 2021 10:55am

Pakistan

Gilani's Senate win challenged in ECP

Advocate Azhar Siddique stated that the Senate election between Gilani and Hafeez Sheikh was rigged and action should be taken against Maryam Nawaz and Ali Haider Gilani over their confession of rigging the poll
The applicant has urged the ECP not to issue victory notification of Gilani as a senator

Published 05 Mar, 2021 10:56am

World

Huge quakes hit near New Zealand, tsunami threat passes

A decade ago, a magnitude 6.3 quake killed 185 people in the South Island city of Christchurch.

Published 05 Mar, 2021 10:52am

Energy

India says OPEC+ decision to hit consumption-led recovery, hurt customers

The world's third biggest oil importer and consumer, India had been urging major producers to ease output cuts and help global economic recovery from the coronavirus pandemic as well as rein in prices.

Published 05 Mar, 2021 10:50am

Stocks

China shares fall as parliamentary meeting sets conservative growth target

Chinese H-shares listed in Hong Kong fell 0.26% to 11,296.26, while the Hang Seng Index was down 0.28% at 29,155.40.

Published 05 Mar, 2021 10:48am

Forex

Indonesia's rupiah hits 4-month low as US bond yields rise

The currency was down 0.3% on Friday.

Published 05 Mar, 2021 10:45am

Mutual Funds

Yields on 10-year JGBs fall as BOJ's Kuroda brushes off widening yield band

The 30-year JGB yield rose 2.5 basis points to 0.735%.

Published 05 Mar, 2021 10:43am

World

Australia asks European Commission to review Italy's vaccine block

The locally produced doses will provide the backbone of Australia's inoculation programme, which officials hope to complete by October.

Published 05 Mar, 2021 10:41am

Commodities

China steel, iron ore futures fall sharply as demand optimism wanes

"On top of that, the seasonal restocking cycle of national steel inventories is drawing to a close, with the growth in stocks slowing this week, meaning that some mills will soon start to moderate capacity utilization rates," he said.

Published 05 Mar, 2021 10:39am

World

South Korea approves Pfizer covid-19 vaccine

The announcement came after the ministry approved a separate batch of Pfizer vaccines sent last month via the COVAX global vaccine.

Published 05 Mar, 2021 10:36am

Telecom sector: Universal service subsidy requirement offsets fiscal revenues: WB

ISLAMABAD: The universal service subsidy requirement of telecom sector in Pakistan entirely offsets the fiscal...

Updated 05 Mar, 2021 10:38am

Forex

Dollar hits three-month highs as Fed's Powell sticks to script

The franc weakened as far as 0.9297, the lowest since July 23. The yen reached 107.93, its weakest since July 1.

Published 05 Mar, 2021 10:33am

Business & Finance

FBR launches one-window facility for Punjab businesses

The one-window facility will be used for registration of Sole Proprietor (Individual)/ Association of Persons (AOP) in the Government of Punjab’s Business Portal and FBR.

Published 05 Mar, 2021 10:33am

Forex

Canadian dollar dips as higher bond yields dominate FX market

The Canadian dollar was trading 0.1% lower at 1.2661 to the greenback, or 78.98 US cents, having touched its strongest intraday level since last Thursday at 1.2575. Last Thursday, it touched a three-year high at 1.2464.

Published 05 Mar, 2021 10:31am

Pakistan

Pakistan reports 1,579 new COVID-19 cases in 24 hours

52 more people died from the virus in the last 24 hours.
Pindi and Islamabad reported the highest deaths, new cases since December.

Updated 05 Mar, 2021 10:32am

Forex

Dollar ascendant as Powell sticks to script; risk currencies slide

The Aussie weakened 0.3% to $0.7705, extending Thursday's 0.7% drop. The kiwi fell 0.2%, adding to its 0.8% slide overnight.

Published 05 Mar, 2021 10:29am

Financial

Indonesia's forex reserves at $138.79bn at end-Feb

The increase in February was mainly because of a new debt issuance while the total February reserves.

Published 05 Mar, 2021 10:27am

Forex

China lowers yuan midpoint to 2-month low, pushing CFETS basket index to highest since June 2018

The weaker fixing has pushed China's trade-weighted yuan basket index to 97.06, the highest since June 22, 2018, according to Reuters' calculation based on official data.

Published 05 Mar, 2021 10:26am

Forex

Yuan briefly hits 5-week low, steadies as annual parliament meeting begins

Prior to market opening, the People's Bank of China (PBOC) set the midpoint at 6.4904 yuan per dollar, 146 pips, or 0.22%, weaker than the previous fix of 6.4758. It was the weakest since Jan. 4.

Published 05 Mar, 2021 10:23am

Bullion Rate

Gold sinks to 9-month low as Fed remarks boost dollar, bond yields

CME Group Inc decreased margins for COMEX 100 Gold Futures contracts by 9.1%.

Published 05 Mar, 2021 10:19am

Stocks

Australian shares skid as concerns over bond yields persist

Oil Search rose 4.51% and Woodside Petroleum gained 3.9%.

Published 05 Mar, 2021 10:17am

Stocks

Australian shares set to track Wall Street lower after Powell comments, NZ down

The benchmark fell 0.8% on Thursday.

Published 05 Mar, 2021 10:15am

Stocks

Indian shares slip on bond yield worries; energy stocks rise

Wipro Ltd declined as much as 3% after announcing it would buy British consultancy Capco for $1.45 billion.

Published 05 Mar, 2021 10:14am

Financial

BOJ's Kuroda brushes aside chance of widening yield band at March review

"We have been and must continue to buy ETFs flexibly. We'll discuss at the March review how specifically we could make our purchases more nimble," Kuroda said.

Published 05 Mar, 2021 10:12am

Asia

Myanmar diplomatic revolt against junta widens after violent crackdown

Myanmar’s junta lost a tug of war over leadership of its U.N. mission in New York and the United States unveiled new sanctions targeting military conglomerates after the deaths of dozens of civilians protesting against last month’s coup.
But in the main city of Yangon, police fired rubber bullets and stun grenades to disperse protesters who had been joined by about 100 doctors in white coats, witnesses said.

Published 05 Mar, 2021 10:09am

World

Daily US Covid cases below 40,000 for first time in months: monitor

Three vaccines are currently being administered in the country and the Biden administration says the campaign to jab 100 million people in his first 100 days in office is ahead of schedule.

Published 05 Mar, 2021 10:09am

Business & Finance

China military budget to grow 6.8% in 2021

Over the past year, China has launched three new amphibious assault ships, and is currently building a third aircraft carrier.

Published 05 Mar, 2021 10:06am

China

China says will deter Taiwan independence but seek peaceful ties

China will resolutely deter any separatist activity seeking Taiwan’s independence but is committed to promoting the peaceful growth of relations across the Taiwan Strait and China’s “reunification”, Premier Li Keqiang said on Friday.

Published 05 Mar, 2021 10:02am

Companies

Honda launches advanced self-driving cars in Japan

For now, analysts say automakers are still a long way from a true Level 4 system, in which a car is considered to no longer have a driver, just passengers.

Published 05 Mar, 2021 10:05am

Stocks

Asia markets track Wall St plunge as rate hike fears grow

"Oil prices could rip higher now that a tight market is likely up through the summer," said OANDA's Edward Moya. "WTI at $75 no longer seems outlandish and Brent could easily top $80 by the summer."

Published 05 Mar, 2021 10:03am

Stocks

Tokyo stocks open lower on price concerns

On Wall Street, all three major stock indices closed lower after investors were disappointed by Powell's speech, despite the central bank chair saying price increases are not an immediate concern.

Published 05 Mar, 2021 10:01am

Stocks

Hong Kong shares tumble at open

The Hang Seng Index sank 1.95 percent, or 569.65 points, to 28,667.14.

Published 05 Mar, 2021 10:00am

Stocks

Hong Kong stocks end morning lower

The Hang Seng Index fell 0.28 percent, or 81.39 points, to 29,155.40.

Published 05 Mar, 2021 09:59am

World

WHO scraps plan for interim report on Wuhan virus mission: WSJ

US State Department spokesman Ned Price called on China Thursday to share what it knows from the earliest days of the pandemic.

Published 05 Mar, 2021 09:57am

Technology

Canada says leave politics out of Huawei extradition case

Frater urged the court to toss the claims about Trump, saying they are "moot" now that he has left office.

Published 05 Mar, 2021 09:55am

World

Reading aloud of 628-page Covid bill delays debate in US Senate

Bill readings are almost always dispensed with at the start to allow for debate, but Johnson saw it as way to register his frustration over the massive outlay of federal spending.

Published 05 Mar, 2021 09:51am

Embittered PM flays ECP, sharpens anti-PDM rhetoric

ISLAMABAD: Prime Minister Imran Khan has asked his party legislators to “openly vote against” him, if they so...

Updated 05 Mar, 2021 09:44am

Covid crisis: Proposed plan aimed at providing fiscal space to developing states

ISLAMABAD: Prime Minister Imran Khan has proposed a five-point plan to provide developing countries the fiscal space...

Updated 05 Mar, 2021 09:44am

PM holds talks with COAS, ISI chief

ISLAMABAD: Prime Minister Imran Khan on Thursday held a detailed meeting with Army Chief General Qamar Javed Bajwa...

Updated 05 Mar, 2021 09:44am

ECP takes notice of PM’s remarks

KARACHI: The Election Commission of Pakistan (ECP) has called a meeting on Friday (today) in Islamabad over Prime...

Updated 05 Mar, 2021 09:44am

PM to seek vote of confidence tomorrow

ISLAMABAD: Information Minister Shibli Faraz, on Thursday, said the government has called a National Assembly ...

Updated 05 Mar, 2021 09:44am

PM says has identified black sheep

ISLAMABAD: The lawmakers allegedly involved in “selling” their votes to opposition candidate Yosuaf Raza Gilani...

Updated 05 Mar, 2021 09:44am

Pakistan

Met Office issues pollution alert

LAHORE: The Met Office has issued pollution alert for sensitive persons, saying that the air quality index has risen...

Updated 05 Mar, 2021 09:43am

Pakistan

FO refutes State Dept for referring to J&K as ‘union territory’

ISLAMABAD: The Foreign Office, on Thursday, once again refuted the US State Department for referring to Jammu and...

Updated 05 Mar, 2021 09:43am

Pakistan

IT ministry’s DDWP approves 7 projects of Rs4.8bn

ISLAMABAD: The Departmental Development Working Party (DDWP) of the Ministry of Information Technology and...

Updated 05 Mar, 2021 09:43am

Pakistan

Tajik ambassador visits LCCI

LAHORE: Ambassador of Tajikistan Ismatullo Nasredin on Thursday called for measures to cement trade and economic...

Updated 05 Mar, 2021 09:43am

Pakistan

Nawaz asks Imran to step down

ISLAMABAD: The Pakistan Muslim League-Nawaz (PML-N) supremo and former premier, Nawaz Sharif on Thursday, asked ...

Updated 05 Mar, 2021 09:43am

Pakistan

PTI’s time is over: opposition

ISLAMABAD: The time of Pakistan Tehreek-e-Insaf (PTI) government has ended, and now it is the time of a bright ...

Updated 05 Mar, 2021 09:43am

Pakistan

Rashid tells NA: ‘Pakistan continues to be one of worst prolific executioners in the world’

ISLAMABAD: Pakistan continues to be one of the worst prolific executioners in the world as currently 9,732 criminals...

Updated 05 Mar, 2021 09:43am

Pakistan

75 suspects arrested in search operation

ISLAMABAD: The twin cities’ police, on Thursday, conducted joint patrolling as well as search operation at the IJP...

Updated 05 Mar, 2021 09:43am

Pakistan

European countries: Qureshi for addressing impediments in economic ties

ISLAMABAD, March 4, 2021: Foreign Minister Shah Mahmood Qureshi, on Thursday, called for enhanced cooperation with...

Updated 05 Mar, 2021 09:43am

Pakistan

NA-75 Daska by-poll: Punjab CS, IGP assure ECP of probe against officials concerned

ISLAMABAD: Chief Secretary Jawwad Rafique Malik and Inspector General Police (IGP) Punjab Inam Ghani on Thursday...

Updated 05 Mar, 2021 09:43am

Pakistan

PM praises Elahi

ISLAMABAD: Prime Minister Imran Khan on Thursday telephoned Punjab Assembly Speaker Chaudhry Parvez Elahi and ...

Updated 05 Mar, 2021 09:43am

Pakistan

Senate elections: Bid to seek trust vote aimed at hiding PM’s defeat: Bilawal

ISLAMABAD: The Pakistan People’s Party (PPP) chairman Bilawal Bhutto-Zardari termed the seeking of vote of...

Updated 05 Mar, 2021 09:43am

Markets

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Thursday (March 4, 2021). ======================================= Offset...

Updated 05 Mar, 2021 09:42am

Pakistan

Shehbaz advised against traveling for over a week

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) president and opposition leader in the National Assembly Shehbaz...

Updated 05 Mar, 2021 09:42am

Pakistan

Ramzan Sugar Mills: Accountability court adjourns hearing till 11th

LAHORE: An accountability court adjourned to March 11 the hearing of the money laundering and Ramzan Sugar Mills...

Updated 05 Mar, 2021 09:42am

Pakistan

‘17 lawmakers from ruling alliance voted against Hafeez’

ISLAMABAD: As many as 17 parliamentarians of the ruling alliance voted against the Pakistan Tehreek-e-Insaf (PTI),...

Updated 05 Mar, 2021 09:42am

Pakistan

Imported Covid-19 vaccinations: Frontline workers top priority, PAC told

ISLAMABAD: The Public Accounts Committee (PAC) was informed, on Thursday that frontline workers were the top ...

Updated 05 Mar, 2021 09:42am

Life & Style

Aaj TV - Friday's schedule

All timings are in PST (Pakistan Standard Time) 06:00 NEWS HOUR 06:25 HEADLINE NEWS 06:30 NEWS HOUR 06:55 HEADLINE...

Updated 05 Mar, 2021 09:42am

Ehsaas Street Hawkers initiative: PASSD joins hands with four govt bodies

ISLAMABAD: The federal government’s Poverty Alleviation and Social Safety Division (PASSD) Thursday joined hands...

Updated 05 Mar, 2021 09:42am

Forex reserves move up by $92m

KARACHI: The country’s total liquid foreign exchange reserves rose by $92 million during last week. According to...

Updated 05 Mar, 2021 09:42am

63 die of Covid-19 across country

ISLAMABAD: Coronavirus cases in Pakistan over the past few days have witnessed an increase as during the past 24...

Updated 05 Mar, 2021 09:42am

Balladur acquitted

PARIS: A French court on Thursday acquitted former prime minister Edouard Balladur of corruption charges but handed ...

Updated 05 Mar, 2021 09:42am

World

US, UK suspend tariffs and seek aircraft row resolution

LONDON/WASHINGTON: The United States agreed a four-month suspension of retaliatory tariffs imposed on British goods...

Updated 05 Mar, 2021 09:41am

World

Nine Turkish soldiers killed in helicopter crash

ISTANBUL: Nine Turkish soldiers were killed and four wounded when their military helicopter crashed Thursday in ...

Updated 05 Mar, 2021 09:41am

World

Myanmar anti-coup protesters return as UN urges end to violence

YANGON: Defiant anti-coup protesters returned to the streets across Myanmar on Thursday after the deadliest day of...

Updated 05 Mar, 2021 09:41am

Pakistan

Excise Police Jacobabad seize 125kg of charas

KARACHI: In the ongoing crackdown on drug dealers on the instructions of Provincial Minister for Excise &...

Updated 05 Mar, 2021 09:41am

Pakistan

Ravi Riverfront Project: LHC restrains govt from land acquisition

LAHORE: The Lahore High Court on Thursday restrained the provincial government from any process of land acquisition...

Updated 05 Mar, 2021 09:40am

Pakistan

MoU signed to pursue agri-tech initiatives

KARACHI: To address food demands of the future and challenges faced by Pakistan, the Institute of Business ...

Updated 05 Mar, 2021 09:40am

World

Nearly a fifth of all food reaching consumers wasted: UN

PARIS: Seventeen percent of the food available to consumers worldwide in 2019 — almost one billion tonnes — was...

Updated 05 Mar, 2021 09:40am

World

NATO chief warns EU it can’t defend Europe alone

BRUGES, (Belgium): NATO Secretary General Jens Stoltenberg warned Thursday that the European Union cannot defend its...

Updated 05 Mar, 2021 09:40am

World

IS recruiting British youth in pandemic: foreign minister

LONDON: The Islamic State group and other terror organisations are recruiting young people in the UK in “worrying...

Updated 05 Mar, 2021 09:40am

World

Female doctor killed in eastern Afghanistan

JALALABAD: A female doctor was killed in a bomb blast in the eastern Afghan city of Jalalabad in what appeared to be...

Updated 05 Mar, 2021 09:40am

World

Tsunami warning lifted after 6.9 quake off New Zealand

AUCKLAND: New Zealanders were jolted awake by a 6.9-magnitude earthquake off the North Island Friday, triggering a...

Updated 05 Mar, 2021 09:40am

World

SpaceX rocket explodes on ground after seemingly successful flight

WASHINGTON: Third time’s a charm? Not so for SpaceX, whose unmanned rocket exploded on the ground Wednesday after...

Updated 05 Mar, 2021 09:40am

World

Europeans drop plan to censure Iran at UN nuclear watchdog

VIENNA: European nations dropped a planned resolution criticising Iran at this week’s meeting of the UN nuclear...

Updated 05 Mar, 2021 09:40am

World

US, at UN, accuses Russia of blocking ‘accountability’ on Syria chem weapons

UNITED NATIONS: The new US envoy to the United Nations on Thursday accused Russia of seeking to stymie efforts to...

Updated 05 Mar, 2021 09:40am

World

EU opens way for Russian jabs as nations try to hold off new surge

THE HAGUE: Russian coronavirus shots could soon be doled out across Europe after the EU said Thursday it was...

Updated 05 Mar, 2021 09:40am

World

Italy blocks export of AstraZeneca doses to Australia

BRUSSELS: Italy has blocked a shipment to Australia of AstraZeneca’s Covid-19 vaccine in the first such export ban...

Updated 05 Mar, 2021 09:40am

World

Russia has vaccinated two million, says Putin

MOSCOW: Russia has fully vaccinated two million people with its homegrown jabs, President Vladimir Putin said on...

Updated 05 Mar, 2021 09:40am

Pakistan

Poverty eradication: Pakistan lauds China on accomplishing UN goal

NEW YORK: Pakistan has congratulated China on achieving the poverty eradication target 10 years ahead of the ...

Updated 05 Mar, 2021 09:40am

Pakistan

‘Govt plans parking plazas across Punjab’

LAHORE: Advisor to Chief Minister Punjab on Economic Affairs & Planning and Development (P&D) Dr Salman Shah...

Updated 05 Mar, 2021 09:40am

Pakistan

Race for Senate chairman election begins: PPP, PTI start establishing contacts with smaller groups

LAHORE: The race for the election of chairman Senate has started after the election of upper house of the ...

Updated 05 Mar, 2021 09:40am

Pakistan

Governor acknowledges services of Pak Navy

LAHORE: Punjab Governor, Chaudhry Mohammad Sarwar on Thursday said that Pakistan Navy is successfully tackling the...

Updated 05 Mar, 2021 09:40am

Pakistan

COAS, German envoy discuss Afghan peace process

RAWALPINDI: Bernhard Stephan Schlagheck, German Ambassador to Pakistan, called on General Qamar Javed Bajwa, Chief ...

Updated 05 Mar, 2021 09:40am

Pakistan

Assets beyond means case: NAB summons Safdar on 10th

LAHORE: The National Accountability Bureau (NAB) Lahore has summoned Captain Muhammad Safdar (Retd) in possessing...

Updated 05 Mar, 2021 09:40am

Pakistan

Court attack case: ATC sends two lawyers to Adiala Jail on judicial remand

ISLAMABAD: The Anti-Terrorism Court (ATC) Thursday sent two lawyers to Adiala Jail for seven days on judicial remand...

Updated 05 Mar, 2021 09:40am

Pakistan

Toshakhana case: AC adjourns hearing till 11th

ISLAMABAD: An accountability court on Thursday again adjourned hearing of the Toshakhana case involving former...

Updated 05 Mar, 2021 09:40am

Pakistan

Affordable housing for masses: HBL, Akhuwat ink strategic MoU

LAHORE: HBL’s Islamic Banking arm and Akhuwat have signed a Memorandum of Understanding (MoU). The MoU was signed...

Updated 05 Mar, 2021 09:40am

Pakistan

Differently-abled employees: KMC adds Rs2000 allowance to salaries

KARACHI: Karachi Metropolitan Corporation (KMC) said it has added Rs2000 allowance in salaries of disabled employees...

Updated 05 Mar, 2021 09:40am

Pakistan

Senate elections have brought Pakistan into disrepute: Kamal

KARACHI: Pak Sarzameen Party Chairman Syed Mustafa Kamal on Thursday said that the Senate election proved that there...

Updated 05 Mar, 2021 09:39am

Pakistan

Rotary Club to educate people about causes of hearing impairment

KARACHI: The Rotary Club, Karachi, and Taaj Welfare Organization have decided to observe this year as a “Hearing...

Updated 05 Mar, 2021 09:39am

Pakistan

Anti-encroachment: Railways retrieves warehouse in operation

KARACHI: In a yet another anti-encroachment operation, Pakistan Railways Karachi retrieved possession of a warehouse...

Updated 05 Mar, 2021 09:39am

Pakistan

75 Pakistanis to pursue PhD degrees in five years: HEC signs MoA with Queen Mary University of London

ISLAMABAD: The Higher Education Commission (HEC), Pakistan and Queen Mary University of London (QMUL) have signed a...

Updated 05 Mar, 2021 09:39am

Pakistan

FCCI, NIC join hands

FAISALABAD. An instant economic turnaround is possible by providing conducive environment to educated Pakistani ...

Updated 05 Mar, 2021 09:39am

Pakistan

Corona positivity rate remains 4.72pc in Punjab

LAHORE: The positivity rate of coronavirus in the province remained 4.72 percent, as out of 16,857 Covid-19 tests, ...

Updated 05 Mar, 2021 09:39am

Business & Finance

US won’t reach ‘maximum employment’ this year: Powell

WASHINGTON: The US labour market faces a lengthy recovery and the economy will not see “maximum employment” this...

Updated 05 Mar, 2021 09:37am

Money & Banking

Dollar stays up in Europe

LONDON: The dollar held gains against a basket of its peers on Thursday as a more orderly rise in US Treasury yields...

Updated 05 Mar, 2021 09:37am

Money & Banking

Ukraine raises interest rates for first time since 2018

KYIV: Ukraine’s central bank raised its key rate for the first time since 2018 on Thursday - to 6.5% from an...

Updated 05 Mar, 2021 09:37am

Money & Banking

UBL selects PTCL for primary Tier-3 data centre hosting

KARACHI: Pakistan Telecommunication Company Limited (PTCL) and United Bank Limited (UBL) signed an agreement, for ...

Updated 05 Mar, 2021 09:37am

Money & Banking

Early trade in New York: Dollar pares gains before Powell speaks

NEW YORK: The dollar pared earlier gains on Thursday before an appearance by Federal Reserve Chairman Jerome Powell...

Updated 05 Mar, 2021 09:36am

Business & Finance

Malaysia holds key rate, expects vaccination drive to boost economy

KUALA LUMPUR: Malaysia’s central bank kept its benchmark interest rate steady at a record low on Thursday on...

Updated 05 Mar, 2021 09:36am

Money & Banking

Faysal Bank, NCCPL ink MoU to facilitate employees’ home finance needs

KARACHI: A Memorandum of Understanding (MoU) was signed between Faysal Bank Limited and National Clearing Company of...

Updated 05 Mar, 2021 09:36am

Money & Banking

Sterling holds above $1.39

LONDON: Sterling held above $1.39 against the dollar on Thursday after British finance minister Rishi Sunak rolled...

Updated 05 Mar, 2021 09:36am

Money & Banking

CDNS receives Rs29bn new investments

ISLAMABAD: Central Directorate of National Savings (CDNS) has received Rs 29 billion new investments by February 28,...

Updated 05 Mar, 2021 09:36am

Industry

Power tariff hike hits masses, increases cost of doing business: PBIF

KARACHI: Chairman of National Business Group and President Pakistan Businessmen and Intellectual Forum (PBIF), Mian...

Updated 05 Mar, 2021 09:36am

Money & Banking

Aussie, kiwi flat

SYDNEY/WELLINGTON: The Australian and New Zealand dollars flatlined on Thursday after another spike in global bond...

Updated 05 Mar, 2021 09:36am

BR Research

Interview with Ali Janjua, CEO, PayPro

“Transaction patterns have seen a paradigm shift towards e-payments during pandemic” Ali Janjua is the Chief...

Published 05 Mar, 2021 07:45am

BR Research

Cement: concrete revival

The cement industry is demonstrating a remarkable recovery from losses to profits after demand in the country had a...

Published 05 Mar, 2021 07:35am

BR Research

Power tariffs: Devil and the details

The Pakistan Bureau of Statistics (PBS) calculated the impact of electricity price increase as 29 percent and 43...

Published 05 Mar, 2021 07:25am

Rates.SBP

State Bank of Pakistan conversion rates

KARACHI: Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates,...