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Archive - 2021-03-08
US could send $1,400 COVID bill payments within days; child tax credit a bigger challenge
USA

US could send $1,400 COVID bill payments within days; child tax credit a bigger challenge

  • Some Americans might see direct payments as soon as this week if the bill passes the House of Representatives on Tuesday as expected, compared with several weeks' lag in April 2020.
  • The bill also includes an expanded Child Tax Credit of up to $3,000 per child, paid monthly starting in July, essentially forcing the revenue collector to act as benefits administrator for the rest of the year.
Updated 08 Mar, 2021 10:19pm
US government to expand biofuels forecasts as renewable diesel sector grows
USA

US government to expand biofuels forecasts as renewable diesel sector grows

  • Surging demand for renewable diesel is part of a larger global transition to green fuels, and could increase prices of crops such as soybeans and canola it is derived from.
  • The EIA is planning to begin incorporating renewable diesel data in its Petroleum Supply Monthly report, with a goal to publish data for January by the end of this month, EIA told Reuters.
Updated 08 Mar, 2021 10:19pm
Chilean consumer prices rise 0.2pc in February, 2.8pc over 12 months
USA

Chilean consumer prices rise 0.2pc in February, 2.8pc over 12 months

  • A central bank poll of traders in February predicted inflation would come in slightly higher at 0.4% for the month.
  • Rolling, 12-month inflation rose to 2.8%, the agency said, hovering near the middle of the Central Bank's tolerance range of between 2.0 and 4.0%.
Updated 08 Mar, 2021 10:19pm
Brazil's 2021 inflation seen at 4.0pc, next year's rate outlook also rises: survey
USA

Brazil's 2021 inflation seen at 4.0pc, next year's rate outlook also rises: survey

  • The average forecast for IPCA consumer price inflation at the end of this year rose from 3.9% a week ago, according to the latest weekly "FOCUS" survey of over 100 economists, rising further above the central bank's official goal of 3.75%.
  • A persistently weak exchange rate, strong global commodity prices and growing concerns over the government's fiscal position are all pushing inflation expectations higher.
Updated 08 Mar, 2021 10:19pm
Panasonic to buy Blue Yonder for $6.5bn in biggest deal since 2011
Companies

Panasonic to buy Blue Yonder for $6.5bn in biggest deal since 2011

  • "This is not something that has been announced by our company. It is not true that it is something we have decided," Panasonic said in an emailed statement.
  • An acquisition would bolster Panasonic's supply chain management services as the COVID-19 pandemic focuses the attention of companies on their resilience to disruption.
Updated 08 Mar, 2021 10:19pm
European banking regulator EBA targeted in Microsoft hacking
Financial

European banking regulator EBA targeted in Microsoft hacking

  • The European Union's banking regulator, which gathers and stores swathes of sensitive data about banks and their lending, said it believed the cyber attack had struck only its email servers.
  • Microsoft and a person working with the US response blamed the initial wave of attacks on a Chinese government-backed actor. A Chinese government spokesman said the country was not behind the intrusions.
Published 08 Mar, 2021 10:05pm
US yields rise, boosted by higher inflation view
Financial

US yields rise, boosted by higher inflation view

  • The 5-year and 7-year note yields were up 4 basis points, while that of the benchmark 10-year note hit a near 13-month high.
  • The US yield curve was a little flatter on Monday, with the spread between 2-year and 10-year notes at 144.1 basis points, after hitting on Friday its steepest since September 2015.
Published 08 Mar, 2021 10:01pm
Marathon restarts CDU at Galveston Bay Refinery in Texas
Companies

Marathon restarts CDU at Galveston Bay Refinery in Texas

  • After restarting the 225,000 bpd CDU, Marathon began on Monday a planned overhaul of the 140,000 bpd fluidic catalytic cracker 3 (FCC 3), the sources said.
  • On Sunday, FCC 3 had a propane leak that idled activity at the refinery for much of the day, the sources said. No injuries were reported because of the leak.
Published 08 Mar, 2021 09:59pm
South Africa's rand tumbles in broad EM slide
Forex

South Africa's rand tumbles in broad EM slide

  • Rand was 0.54% weaker at 15.4350 per dollar, having earlier plunged to a session-low 15.5700, its weakest since Jan. 12 in a fourth straight day of losses.
  • "We continue to believe that the domestic currency will average weaker in Q2.21, around R15.40/USD, with high risks to the downside."
Updated 08 Mar, 2021 10:18pm
US consumers expect to spend more on rent and other bills, NY Fed survey finds
USA

US consumers expect to spend more on rent and other bills, NY Fed survey finds

  • Consumers said they expect gas prices to rise by a median 9.6% over the next year, up from 6.2% in January. It was the fifth straight month of increase and a new high for the survey, which launched in 2013.
  • Respondents also raised their expectations for how much food, medical care and college will cost over the next year.
Updated 08 Mar, 2021 10:18pm
Mexican inflation likely accelerated in February
USA

Mexican inflation likely accelerated in February

  • The median forecast of 14 analysts was that inflation advanced in February to 3.72% from 3.54% in January.
  • The Bank of Mexico targets a rate of 3% with a one percentage point tolerance threshold above and below that.
Updated 08 Mar, 2021 10:18pm
Bank of Canada seen resisting investor expectations of early rate hike
Money & Banking

Bank of Canada seen resisting investor expectations of early rate hike

  • The BoC has signaled that interest rates will stay at a record low of 0.25% until 2023, when it expects the economy to reach its potential.
  • "They have to acknowledge that the outlook is better," said Andrew Kelvin, chief Canada strategist at TD Securities. "At the same time they don't want to encourage runaway expectations for near-term rate hikes."
Updated 08 Mar, 2021 10:18pm
PM Draghi pledges to speed up jabs, pull Italy clear of COVID crisis
Europe

PM Draghi pledges to speed up jabs, pull Italy clear of COVID crisis

  • In his first major address since taking office last month, the former European Central Bank chief said the situation was deteriorating as new cases rose, but predicted that the end was nonetheless within sight.
  • "The pandemic is not yet over, but with the acceleration of the vaccine plan, a way out is not far off," Draghi said in a video address to mark international women's day.
Updated 08 Mar, 2021 10:18pm
US Cash Soymeal-Rail offers firm; Trucks mostly steady
Commodities

US Cash Soymeal-Rail offers firm; Trucks mostly steady

  • Soymeal crushing remains strong, one mid-south dealer said, driving strong demand for soybean sales across the US Midwest, though most domestic meal buyers have made purchases to last through the end of March.
  • Chicago Board of Trade March soymeal futures were up $2.20 at $422.20 a ton. The May contract was $2.30 higher at $420.50 a ton.
Updated 08 Mar, 2021 10:18pm
US lawmakers introducing bill to give USPS $6bn for EV delivery vehicles
USA

US lawmakers introducing bill to give USPS $6bn for EV delivery vehicles

  • The bill sponsored by Representative Jared Huffman and seen by Reuters would require at least 75% of the new fleet be electric or zero-emission vehicles.
  • The bill would also require no less than 50% of medium/heavy-duty vehicle purchases be electric or zero-emission through 2029 and all new USPS vehicles be zero-emission after January 2040.
Updated 08 Mar, 2021 10:17pm
UK's Johnson says he admires the Queen, declines to comment on accusations
Europe

UK's Johnson says he admires the Queen, declines to comment on accusations

  • "I've always had the highest admiration for the Queen and the unifying role that she plays in our country and across the Commonwealth," he told.
  • "As for the rest, all other matters to do with the royal family, I've spent a long time now not commenting on royal family matters and I don't intend to depart from that today."
Updated 08 Mar, 2021 10:17pm
UEFA suspends Romanian official involved in PSG-Basaksehir player walk-off
Sports

UEFA suspends Romanian official involved in PSG-Basaksehir player walk-off

  • Webo, a former Cameroon international, said Coltescu had disrespected him by referring to him as "the Black one" and an investigation was launched by European soccer's governing body.
  • Assistant referee Octavian Sovre was also reprimanded for his role and ordered to attend an educational programme before June 30.
Updated 08 Mar, 2021 10:17pm
Italy's coronavirus death toll passes 100,000
Europe

Italy's coronavirus death toll passes 100,000

  • Italy is the seventh country in the world to reach the bleak milestone, following the United States, Brazil, Mexico, India, Russia and Britain.
  • Over the last day, some 13,902 new cases were logged against 20,765 on Sunday. Fewer tests are normally carried out at the weekend, which means case numbers are often low on Mondays.
Updated 08 Mar, 2021 10:17pm
CAF president's ban reduced but re-election hopes over
Sports

CAF president's ban reduced but re-election hopes over

  • The ruling clears the way for South African billionaire Patrice Motsepe to replace him and become the organisation's eighth president in its 63-year history.
  • On appeal, CAS on Monday reduced the ban to two years - meaning Ahmad cannot stand for re-election this week - and cut his fine to 50,000 Swiss franc
Updated 08 Mar, 2021 10:17pm
Turkish lira on two-week slide that tests central bank's will
Forex

Turkish lira on two-week slide that tests central bank's will

  • Wall Street banks Citigroup and JPMorgan were the latest to predict Turkey would raise interest rates next week to stabilize the currency and address inflation, which rose above 15% last month.
  • Citi and JPMorgan said they expect a tightening of 50-100 basis points and 100 basis points respectively.
Updated 08 Mar, 2021 10:17pm
Soybeans up 10-13 cents; wheat up 3-6 cents; corn up 2-5 cents
Commodities

Soybeans up 10-13 cents; wheat up 3-6 cents; corn up 2-5 cents

  • CBOT wheat is supported by a strong soybean market, but pressure continues as weather forecasts for the US Southern Plains show beneficial rains for winter wheat there.
  • Wet weather continues to hamper Brazilian harvest and second crop corn planting, adding support to CBOT corn amid tight global stocks.
Updated 08 Mar, 2021 10:16pm
Africa spectrum auction halted pending hearing over Telkom contentions
Companies

Africa spectrum auction halted pending hearing over Telkom contentions

  • The ruling is a setback for top mobile operators MTN and Vodacom which are seeking to expand their 4G capacity and to roll out 5G technology.
  • It also undermines South African President Cyril Ramaphosa's efforts to accelerate the economy by attracting new investment in the sector and creating jobs.
Updated 08 Mar, 2021 10:16pm
PayPal to buy Israeli digital asset security provider Curv
Technology

PayPal to buy Israeli digital asset security provider Curv

  • The terms of the deal, which is expected to complete in the first half of 2021, were not disclosed. Curv would be part of PayPal's recently created cryptocurrencies-focused unit.
  • PayPal said in October last year, it would allow customers to buy, sell and hold cryptocurrencies in its online wallets.
Updated 08 Mar, 2021 10:16pm
Ganfeng joins China Minmetals lithium salt lake project for $225mn
Companies

Ganfeng joins China Minmetals lithium salt lake project for $225mn

  • The move will give Ganfeng, one of the world's top producers of lithium chemicals used in electric vehicle (EV) batteries, its first salt lake asset in China, adding to interests it holds in Argentina.
  • Salt brines are one of the world's major sources of lithium, the other being the lithium-bearing mineral spodumene.
Updated 08 Mar, 2021 10:16pm
Two more COVID-19 cases at J-League club Gamba Osaka
Sports

Two more COVID-19 cases at J-League club Gamba Osaka

  • Gamba, who only returned to training on Sunday, said the two individuals were asymptomatic and quarantining while the club was identifying close contacts after suspending all activities.
  • Gamba added in a statement that they hoped to play Wednesday's match against Oita Trinita and were in discussions with the league and local health authorities.
Updated 08 Mar, 2021 10:16pm
Gulf countries get fiscal leeway after OPEC+ extends output cuts
Energy

Gulf countries get fiscal leeway after OPEC+ extends output cuts

  • These countries will still benefit from the higher oil revenue, as the forecast increase in oil price outweighs the lower output.
  • "The marked narrowing in the fiscal deficit with higher oil revenue gives further space to increase fiscal support to the economies."
Updated 08 Mar, 2021 10:16pm
Saudi shares firm as major Gulf markets end mixed
Stocks

Saudi shares firm as major Gulf markets end mixed

  • Saudi Arabia's benchmark index finished 0.3% higher, with Al Rajhi Bank rising 2% and Samba Financial Group climbing 1.4%.
  • In Dubai, the main share index eased 0.2%, hit by a 1.9% fall in blue-chip developer Emaar Properties and a 1.1% retreat in sharia-compliant lender Dubai Islamic Bank .
Updated 08 Mar, 2021 10:16pm
Libyan parliament reunites after years of war to debate new government
Africa

Libyan parliament reunites after years of war to debate new government

  • The city is now held by Khalifa Haftar's eastern-based Libyan National Army (LNA), which retreated there last year after failing to capture Tripoli in the west.
  • The lawmakers will debate approving a government formed by Abdelhamid Dbeibeh, selected as interim prime minister at a forum held by the United Nations in Geneva last month.
  • The parliament members are expected to debate the government on Monday but not vote on it until Tuesday at the earliest.
Updated 08 Mar, 2021 10:16pm
US Supreme Court dumps last of Trump's election appeals
USA

US Supreme Court dumps last of Trump's election appeals

  • The court without comment rejected Trump's appeal challenging thousands of absentee ballots filed in Wisconsin, an election battleground that the Republican businessman-turned-politician lost to Democrat Joe Biden by more than 20,000 votes. Biden became president on Jan. 20.
  • Trump has made - and continues to make - false claims that the Nov. 3 presidential election was stolen from him through widespread voting fraud and irregularities
Updated 08 Mar, 2021 10:16pm
Brazil to get extra 5mn COVID-19 doses from Pfizer
Companies

Brazil to get extra 5mn COVID-19 doses from Pfizer

  • Speaking in Brasilia, Guedes said President Jair Bolsonaro had spoken with the global head of Pfizer and was scheduled to speak with the head of Janssen, the pharmaceutical subsidiary of Johnson & Johnson.
  • The government last week said it intended to buy 100 million doses from Pfizer and 38 million from Janssen through the end of December.
Updated 08 Mar, 2021 10:16pm
Moderna taps Baxter to support fill and finish of 60-90mn COVID-19 vaccine doses
Companies

Moderna taps Baxter to support fill and finish of 60-90mn COVID-19 vaccine doses

  • Moderna's two-shot vaccine is one of the three COVID-19 vaccines authorized for emergency use in the United States along with Pfizer/BioNTech and Johnson & Johnson's.
  • Under the pact with Baxter, the fill and finish of Moderna COVID-19 vaccine will take place at the sterile manufacturing facilities located in Bloomington, Indiana, the companies said.
Updated 08 Mar, 2021 10:16pm
CM Buzdar suspends 12 officials over negligence
Pakistan

CM Buzdar suspends 12 officials over negligence

  • The Chief Minister took action against the officials during this surprise visits to Multan, Taunsa, Dera Ghazi Khan and Muzaffargarh.
  • Besides taking action against officials, the Chief Minister also issued show-cause notices to various other officials and expressed his resentment on their non-satisfactory performance.
Updated 08 Mar, 2021 09:06pm
ICoast names interim prime minister
Africa

ICoast names interim prime minister

  • Tene Birahima Ouattara, presidential affairs minister and the younger brother of President Alassane Ouattara, was appointed interim defence minister, also replacing Bakayoko in that position.
Published 08 Mar, 2021 08:48pm
Deal almost done for UEFA's Champions League reforms
Sports

Deal almost done for UEFA's Champions League reforms

  • UEFA has proposed a major change to the Champions League from 2024 with 36 rather than 32 teams and an overhaul of the group stage into a single table rather than the current groups of four clubs.
  • UEFA's initial proposal allowed for extra spots to be given for teams placed highest in their rankings, opening the way for the top leagues to have more than four clubs on a regular basis.
Published 08 Mar, 2021 08:24pm
TSX falls as weaker bullion drags materials stocks
Stocks

TSX falls as weaker bullion drags materials stocks

  • The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures fell 0.9% to $1,682.7 an ounce.
  • Toronto Stock Exchange's S&P/TSX composite index was down 12.45 points, or 0.07%, at 18,368.51.
Published 08 Mar, 2021 08:22pm
ECB blames redemptions as emergency bond buys slow
Money & Banking

ECB blames redemptions as emergency bond buys slow

  • The ECB bought 11.9 billion euros worth of bonds under its Pandemic Emergency Purchase Programme (PEPP) in the five days to March 5, slightly less than in the previous week.
  • An ECB spokesman said the net purchases were affected by "seasonality factors", particularly large redemptions, which "temporarily delayed" an increase in the ECB's bond pile.
Published 08 Mar, 2021 08:13pm
US Supreme Court rejects case over 'qualified immunity' for police
USA

US Supreme Court rejects case over 'qualified immunity' for police

  • Police use of force has been closely scrutinized following the May 2020 death of a Black man named George Floyd after a Minneapolis officer knelt on his neck.
  • The Cincinnati, Ohio-based 6th US Circuit Court of Appeals in 2020 granted the officers qualified immunity, ruling that no "clearly established" precedent showed that their actions were unlawful.
Published 08 Mar, 2021 08:18pm
Yellen says Biden COVID bill to fuel ‘very strong’ US recovery
USA

Yellen says Biden COVID bill to fuel ‘very strong’ US recovery

  • This is a bill that will really provide Americans the relief they need to get to the other side of the pandemic, and we expect the resources here to really fuel a very strong economic recovery.
  • "If it turns out to be inflationary, there are tools to deal with that, and we'll monitor that closely," Yellen said of the bill's measures.
Published 08 Mar, 2021 08:06pm
Iran casts long shadow over Pentagon nominee's Senate hearing
USA

Iran casts long shadow over Pentagon nominee's Senate hearing

  • President Joe Biden’s nominee to become the Pentagon’s top policy adviser faced relentless Republican criticism on Thursday over his support for the Iran nuclear deal, in a confirmation hearing that could foreshadow bigger fights over Biden’s national security agenda.
Published 08 Mar, 2021 07:53pm
Saints' Ings out for three weeks with muscle injury
Sports

Saints' Ings out for three weeks with muscle injury

  • "It's a serious one but not too serious," Hasenhuettl told the club's website on Monday. "I think three weeks it'll be, (I) expect him back after (the) international break."
  • Ings will miss league meetings away to leaders Manchester City on Wednesday and at home to south-coast rivals Brighton & Hove Albion on Sunday.
Published 08 Mar, 2021 07:37pm
Apollo Global to buy Athene in $11 billion deal
Companies

Apollo Global to buy Athene in $11 billion deal

  • Under the terms of the deal, each outstanding class A common share of Athene will be exchanged for 1.149 shares of Apollo common stock.
  • Existing Apollo shareholders will own about 76% of the combined company, and Athene investors will own the rest.
Published 08 Mar, 2021 07:33pm
McAfee to sell enterprise business for $4bn
Technology

McAfee to sell enterprise business for $4bn

  • The deal, subject to customary regulatory approvals and closing conditions, is expected to close by the end this year, McAfee said.
  • Its enterprise business recorded $1.3 billion in net revenue in fiscal year 2020, McAfee said.
Published 08 Mar, 2021 07:28pm
Sporting defend coach Amorim after complaint by coaches' union
Sports

Sporting defend coach Amorim after complaint by coaches' union

  • The union complained at the time that Amorim had registered as an assistant coach rather than as a head coach as he had not yet qualified for the top job.
  • The national league's commission of coaches has now charged Amorim with fraud, calling for him to be suspended for between one and six years.
Published 08 Mar, 2021 07:20pm
Indonesia gets 1.1mn AstraZeneca vaccine doses via COVAX
South Asia

Indonesia gets 1.1mn AstraZeneca vaccine doses via COVAX

  • The Southeast Asian nation has reported one of the worst COVID-19 caseloads in Asia. It launched a vaccination drive in January, aiming to inoculate some 181 million people within a year.
  • Indonesia will get about 11.7 million doses of AstraZeneca's vaccine through COVAX, which will come in stages through May, Minister Retno Marsudi said.
Published 08 Mar, 2021 07:18pm
‘We never sulk, we don't have moods’, Brussels tells London
Europe

‘We never sulk, we don't have moods’, Brussels tells London

  • David Frost wrote in British newspaper the Sunday Telegraph that the European Union should shake off its ill-will and build a good relationship with Britain as sovereign equals.
  • We never sulk, we don't have moods. We are an institution so we try to work on a day-to-day basis with a very, very even temper.
Published 08 Mar, 2021 07:12pm
Khalilzad, COAS Bajwa discuss Afghan peace process
Pakistan

Khalilzad, COAS Bajwa discuss Afghan peace process

  • The US Special Representative lauded the efforts of Pakistan for peace in the region during his meeting with COAS Qamar Javed Bajwa.
  • Commander Resolute Support Mission in Afghanistan General Austin Scott Miller was also present in the meeting, said military’s media wing.
Updated 08 Mar, 2021 07:16pm
Philippine leader's order to kill rebels 'legal', spokesman says
South Asia

Philippine leader's order to kill rebels 'legal', spokesman says

  • "The president's 'kill, kill, kill' order is legal because it was directed at armed rebels," his spokesman Harry Roque said in a briefing, adding the government would still investigate the incident.
  • Activists said the raids were reminiscent of police operations in which thousands of people have been killed as part of Duterte's signature war on drugs.
Published 08 Mar, 2021 07:11pm
German lawmaker from Merkel's conservatives quits over face mask scandal
Europe

German lawmaker from Merkel's conservatives quits over face mask scandal

  • "In order to avert further damage for my party, I withdraw from my Bundestag mandate," said Nikolas Loebel the conservative Christian Democrats (CDU) party in a statement.
  • His resignation comes one week before regional elections in the western states of Rhineland-Palatinate and Baden-Wuerttemberg, where Loebel's constituency is.
Published 08 Mar, 2021 07:06pm
Macron seen beating Le Pen by smaller margin in 2022 French presidential poll
Europe

Macron seen beating Le Pen by smaller margin in 2022 French presidential poll

  • Macron and Le Pen would easily qualify for the runoff after picking up about 25% each in the first round scheduled for April 2022, far ahead of other rivals. Macron would go on to defeat Le Pen with 53% of the votes versus 47%.
  • "Centre-left voters are disappointed, that's for sure," one minister, speaking on condition of anonymity, told Reuters.
Published 08 Mar, 2021 07:03pm
GameStop taps shareholder Ryan Cohen to lead e-commerce shift
Industry

GameStop taps shareholder Ryan Cohen to lead e-commerce shift

  • Cohen, a board member who has been pushing the company to move away from its traditional brick-and-mortar model, will chair a new board committee.
  • Cohen's RC Ventures activist firm reached a settlement with GameStop in January, giving Cohen seats on the company's board.
Published 08 Mar, 2021 07:01pm
Tesla to build large battery for Texas grid
Companies

Tesla to build large battery for Texas grid

  • Gambit Energy Storage LLC, which is registered as a Tesla Inc unit, is building an over 100-megawatt energy storage project in Angleton, Texas, the report said.
  • The battery could power about 20,000 homes in peak summer, the report added.
Published 08 Mar, 2021 06:58pm
Syria's Assad and his wife test positive for COVID-19
Middle East

Syria's Assad and his wife test positive for COVID-19

  • The Syrian leader and his spouse, who announced her recovery from breast cancer in 2019, were both in good health and would keep working while in isolation at home.
  • The health ministry started vaccinating frontline healthcare workers a week ago and said there had been a surge in COVID-19 cases without elaborating.
Published 08 Mar, 2021 06:53pm
Syria's Assad and his wife test positive for COVID-19
Middle East

Syria's Assad and his wife test positive for COVID-19

  • Syria’s President Bashar al-Assad and his wife Asma have tested positive for COVID-19 after showing minor symptoms, his office said on Monday.
  • The Syrian leader and his spouse, who announced her recovery from breast cancer in 2019, were both in good health and would keep working while in isolation at home, the statement said.
Published 08 Mar, 2021 06:52pm
Israel, Cyprus and Greece agree to link power grids via subsea cable
Europe

Israel, Cyprus and Greece agree to link power grids via subsea cable

  • Cypriot Energy Minister Natasa Pilides said it marked "a decisive step towards ending the island's energy isolation, and consequently, our dependence on heavy fuels."
  • The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel's energy ministry.
Published 08 Mar, 2021 06:35pm
Senegal opposition leader indicted and released on bail
Africa

Senegal opposition leader indicted and released on bail

  • He (Sonko) has been indicted for rape and death threats and placed under judicial supervision. He is going home.
  • Much of Senegal's capital Dakar was at a standstill in anticipation of further unrest, and army tanks patrolled downtown streets.
Published 08 Mar, 2021 06:33pm
Germany's Bosch to open automotive chip factory in June
Companies

Germany's Bosch to open automotive chip factory in June

  • The 1 billion euro ($1.2 billion) plant will produce sensor chips to be installed in electric and hybrid electric vehicles.
  • Bosch began testing the fully automated production of prototype chips, a step towards starting full-scale production at the end of the year, it said.
Published 08 Mar, 2021 06:32pm
Dollar perched at 3-1/2 month highs on firmer US yields
Forex

Dollar perched at 3-1/2 month highs on firmer US yields

  • After falling 4% in the last quarter of 2020, the dollar has strengthened by nearly 2.5% year-to-date as investors expect the broad rise in US bond yields to weigh on stretched equity valuations and boost demand for the US currency.
  • The dollar index stood at 92.30 against a basket of six major currencies, up 0.4%, its highest level since late-November.
Published 08 Mar, 2021 06:27pm
Copper rises on US stimulus and higher Chinese imports
Commodities

Copper rises on US stimulus and higher Chinese imports

  • China, which accounts for about half of all metals demand, imported 4.7% more copper in January-February despite a recent spike in prices while exports grew at a record pace.
  • Benchmark three-month copper on the London Metal Exchange (LME) rose 0.5% to $8,851 a tonne.
Published 08 Mar, 2021 06:24pm
Indian shares flat as HDFC weighs; Muthoot Finance falls
Stocks

Indian shares flat as HDFC weighs; Muthoot Finance falls

  • The blue chip NSE Nifty 50 index added 0.12% to close at 14,956.20, while the benchmark S&P BSE Sensex gained 0.07% to close at 50,441.07.
  • Market sentiment also tracked global shares, which were mixed as initial optimism over the US Senate's passing of a $1.9 trillion stimulus bill gave way to inflation fears.
Published 08 Mar, 2021 06:10pm
Sri Lankan shares surge as industrials, financials rise
Stocks

Sri Lankan shares surge as industrials, financials rise

  • Sri Lanka's CSE All Share Index ended 3.74% higher at 7,318.43, its best one-day performance since Feb. 12.
  • Trading volume on the CSE All Share Index climbed to 92.4 million from 77 million in the previous session.
Published 08 Mar, 2021 06:10pm
PDM nominates Gilani as candidate for Senate chairman
Pakistan

PDM nominates Gilani as candidate for Senate chairman

  • The decision in this regard has been taken during the meeting of PDM huddle in Islamabad which was convened by JUI-F chief Maulana Fazlur Rehman
  • On March 3, after a nail biting contest, Pakistan Peoples Party Candidate Yousuf Raza Gilani won the Senate seat from Islamabad, defeating Pakistan Tehreek-e-Insaf's Hafeez Sheikh
Updated 08 Mar, 2021 06:17pm
10 years on, no peace after war in Syria
World

10 years on, no peace after war in Syria

  • "These girls and boys will be Syria's young adults in five or 10 years and will, in turn, want a future, economic prospects and political freedoms that the system cannot give them if it doesn't reform," he told AFP.
Updated 08 Mar, 2021 05:11pm
COVID-19: Punjab bans curricular activities in schools of seven districts
Pakistan

COVID-19: Punjab bans curricular activities in schools of seven districts

  • “No curricular activity (i.e. sports etc) shall be conducted in those districts where COVID-19 positivity ratio is more than 20 cases,” reads the notification shared by Education Minister Murad Raas on twitter.
  • “Lahore, Gujrat, Multan, Rahim Yar Khan, Sialkot, Rawalpindi and Faisalabad subject to resumption of normalcy of education activities,” it added.
Published 08 Mar, 2021 04:34pm
ECP forms committees to investigate NA-75 by-elections
Pakistan

ECP forms committees to investigate NA-75 by-elections

  • The committees will record the statements of the electoral staff that was posted for the by-elections and will investigate the irregularities during the by-polls
  • The committees have been ordered to prepare their reports and submit them to the chief election commissioner
Published 08 Mar, 2021 04:23pm
Surge in COVID cases: Govt to reconsider decision of reopening schools
Pakistan

Surge in COVID cases: Govt to reconsider decision of reopening schools

  • The development was made during the NCOC meeting was chaired by Federal Minister for Planning, Development, and Special Initiatives Asad Umar.
  • They discussed updates from the provinces on rising positivity and corresponding actions, vaccination progress, and national vaccine strategy.
Published 08 Mar, 2021 03:53pm
Pakistan’s Capital Market ring the Bell for Gender Equality
Business & Finance

Pakistan’s Capital Market ring the Bell for Gender Equality

  • Speaking at the occasion, the MD & CEO of PSX, Farrukh H. Khan, said, “I am very pleased that Pakistan Stock Exchange is not only celebrating this event every year for the last four years, but is also making tangible efforts to materialise the objective of gender equality in the capital market and corporate sector of Pakistan”.
Published 08 Mar, 2021 03:41pm
Cement: Round 2!
BR Research

Cement: Round 2!

Whether the country has left covid-19 behind is debateable but the cement industry has certainly put it far in the...
Updated 08 Mar, 2021 01:35pm
PM calls cabinet meeting tomorrow
Pakistan

PM calls cabinet meeting tomorrow

  • Issues related to country’s economic and political situation will be discussed
  • Briefing will be given on the Islamabad Metro Bus project while approval to the State Bank of Pakistan amendment bill will be granted
Published 08 Mar, 2021 11:02am
Secretary Blinken reveals roadmap for Afghan peace negotiations
South Asia

Secretary Blinken reveals roadmap for Afghan peace negotiations

  • In a letter to President Ashraf Ghani, United States Secretary of State Antony Blinken made four key suggestions for the Afghan Peace Process - which has remained in limbo over the past months.
  • Blinken articulated that the United States has not ruled out any option regarding Afghanistan, adding that "We are considering the full withdrawal of our forces by May 1, as we consider other options".
Updated 08 Mar, 2021 11:08am
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