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Archive - 2021-03-17
FCC begins effort to revoke two Chinese telecoms US operating authority
Industry

FCC begins effort to revoke two Chinese telecoms US operating authority

  • In April, the FCC issued show-cause orders warning it might shut down the US operations of three state-controlled Chinese telecommunications companies - the two cited on Wednesday and China Telecom Corp Ltd. China Unicom Americas has a two-decade old authorization to provide US international telecommunications services.
Published 17 Mar, 2021 09:39pm
PR lands to be outsourced: Swati
Pakistan

PR lands to be outsourced: Swati

  • The minister said the job of divisional superintendents was not to allot lands, but to operate trains and provision of facilities to the passengers.
Published 17 Mar, 2021 09:42pm
Greece sees strong demand for first 30-year bond issue in over a decade
Financial

Greece sees strong demand for first 30-year bond issue in over a decade

  • The bond drew investor demand of more than 26.1 billion euros. It was priced at 150 basis points over the mid-swap level, resulting a yield of about 1.93%, the highest among euro zone countries in that maturity.
  • This 30-year bond is just one additional step we take in the direction of leaving our legacy of the past decade behind us once and for good.
Published 17 Mar, 2021 09:36pm
Poland announces nationwide restrictions amid coronavirus surge
Europe

Poland announces nationwide restrictions amid coronavirus surge

  • We no longer have the ability to only put forward regional restrictions. The only way forward right now is to broaden these restrictions to all of Poland.
  • If this move does not result in easing the pandemic, or at least in slowing down of the third wave, the next steps would be a typical lockdown, a typical situation in which we will be totally closing everything.
Published 17 Mar, 2021 09:34pm
Yields climb as market awaits Fed statement
Financial

Yields climb as market awaits Fed statement

  • The benchmark yield surged to 1.676%, the highest level since February 2020. It was last up 2.8 basis points at 1.6515%.
  • The 30-year bond yield jumped to 2.429%, the highest since November 2019. It was last up 2.1 basis points at 2.4117%.
Published 17 Mar, 2021 09:31pm
India frets over wastage of 'elixir-like' COVID-19 vaccines
South Asia

India frets over wastage of 'elixir-like' COVID-19 vaccines

  • One reason for the wastage is that, while many urban vaccination centres have been crowded, some rural sites have had to nudge people to get shots due to a lack of awareness among the public, which can lead to vaccine wastage.
  • Once a vaccine vial is opened, doses need to be administered within four hours, making it vital for health workers to coordinate the flow of recipients.
Published 17 Mar, 2021 09:20pm
Still no deal on IMF reserve boost for pandemic relief
Europe

Still no deal on IMF reserve boost for pandemic relief

  • Earlier, Japan's Kyodo news agency reported they had secured agreement for increased reserves of around $650 billion through a new allocation of the fund's special drawing rights ahead of a meeting of G7 finance leaders to be hosted by Britain on Friday.
  • We are still continuing debates with the aim of agreeing on boosting SDR to help low-income countries... but we have not yet firmed up details as to the size of SDR boost and the timing of agreement.
Published 17 Mar, 2021 09:28pm
Facebook starts to remove recommendations for political and social groups globally
Technology

Facebook starts to remove recommendations for political and social groups globally

  • The company also announced in a blog post changes aimed at reducing the reach of groups that break site rules, including showing them lower in algorithmic recommendations and alerting people when they go to join a group that has previously violated policies.
  • He said newly created groups on any topic would need to wait 21 days before becoming eligible for recommendation in order to give Facebook time to understand how a group would operate.
Published 17 Mar, 2021 09:26pm
Pakistan receives 500,000 vaccine doses from China, doubling available supply
Pakistan

Pakistan receives 500,000 vaccine doses from China, doubling available supply

  • The South Asian nation of 220 million people launched COVID-19 vaccinations for the public on March 10, starting with older people. Health workers started receiving shots in early February.
  • "These 500,000 doses will ensure smooth continuation of our vaccine drive, currently under way for senior citizens," Sultan said.
  • Pakistan is expecting to get GAVI's first batch of 2.8 million doses of AstraZeneca sometime later this month, officials said.
Published 17 Mar, 2021 09:10pm
Mexico president threatens constitutional change if power bill struck down
USA

Mexico president threatens constitutional change if power bill struck down

  • Speaking at a regular news conference, the leftist president said he would pursue a change in the constitution if the legislation is ultimately struck down by Mexico's judiciary.
  • Some companies were eager to reach a deal with the government, Lopez Obrador said, without naming any. However, there would need to be "discounts," he said.
Published 17 Mar, 2021 09:20pm
China chipmaker SMIC to invest in $2.35bn facilities in Shenzhen
Companies

China chipmaker SMIC to invest in $2.35bn facilities in Shenzhen

  • "The company and Shenzhen government will jointly drive other third-party investors to complete the remaining capital contribution," it said.
  • SMIC's co-CEO Zhao Haijun said last month the company could not meet customer demands for certain mature technologies and its plants have been running "fully loaded" for several quarters.
Published 17 Mar, 2021 09:06pm
Russian bonds slide as Biden comment seen raising sanctions risk
Financial

Russian bonds slide as Biden comment seen raising sanctions risk

  • Biden said Russian President Vladimir Putin would "pay a price" for directing efforts to swing the 2020 US presidential election to Donald Trump, and soon.
  • "If you were thinking the sanctions risk was a second-half (of the year) story, this is a bit of rude awakening," said Kiran Kowshik, EM FX Strategist at Lombard Odier.
Published 17 Mar, 2021 09:04pm
Dollar flat to slightly up ahead of Fed guidance
Forex

Dollar flat to slightly up ahead of Fed guidance

  • US 10-year yields jump to 13-month high.
  • Fed 2023 rates projections under scrutiny.
  • Euro may be hampered by delay in vaccine rollouts.
  • Rouble falls after Biden issues warning on Putin.
Published 17 Mar, 2021 09:00pm
India, UAE vow to strengthen energy cooperation
Energy

India, UAE vow to strengthen energy cooperation

  • UAE is a key oil supplier to India and a partner in an Indian joint venture that plans to build a 1.2 million barrels per day (bpd) refinery and petrochemical complex on the country's west coast.
  • India imports more than 80% of its oil needs, a significant amount of which comes from the Middle East.
Published 17 Mar, 2021 08:58pm
US travel spending fell 42pc, down $492bn in 2020
Industry

US travel spending fell 42pc, down $492bn in 2020

  • US Travel Association said the industry shed 5.6 million direct and indirect jobs last year as the decline in travel cost the US $1.1 trillion in total economic output, falling to $1.5 trillion over 2019's $2.6 trillion. US tax revenue collected from travel also fell by $57 billion in 2020.
Published 17 Mar, 2021 08:56pm
Rains in Argentina slow deterioration of drought-hit soy, corn crops
Commodities

Rains in Argentina slow deterioration of drought-hit soy, corn crops

  • Dryness has blighted Pampas since mid-2020, prompting the Buenos Aires Grains Exchange last week to cut its soy and corn harvest estimates. Soy and corn are Argentina's main cash crops.
  • The rains have been very good. This has been the first storm front to make a complete sweep of the agricultural area in almost 45 days.
Published 17 Mar, 2021 08:51pm
US Senate committee sees sweeping China legislation in mid-April
USA

US Senate committee sees sweeping China legislation in mid-April

  • Lawmakers had hoped to have a vote in the full Senate by mid-April, but Menendez said they needed more time so the two parties could work together.
  • He told a hearing on competing with China that the committee planned to mark up - debate and consider amendments to - the bill on April 14.
Published 17 Mar, 2021 08:49pm
South Africa's rand steadies as Fed verdict looms, stocks fall
Forex

South Africa's rand steadies as Fed verdict looms, stocks fall

  • "Today's FOMC meeting is perhaps the most crucial in the last six months," RMB analyst Nema Ramkhelawan-Bhana said in a note.
  • "For markets, the most important outcome relates to the Fed's view on rising treasury yields. It is the uncertainty surrounding these issues that has engendered mixed trade on international markets."
Published 17 Mar, 2021 08:45pm
Gasoline demand may never recover from pandemic, says IEA
Energy

Gasoline demand may never recover from pandemic, says IEA

  • In last year's five-year outlook before the COVID-19 pandemic's full force was felt in Western countries, the IEA said that gasoline demand was approaching a plateau and kept its demand outlook figure steady from 2024 to 2025.
  • Global gasoline consumption is unlikely to ever return to its 2019 level.
Published 17 Mar, 2021 08:40pm
Biden's comments on Putin dent Russian rouble, bonds and stocks
Forex

Biden's comments on Putin dent Russian rouble, bonds and stocks

  • The Russian market has been haunted by risk of new sanctions against Moscow for months and the recent comments cemented concerns of new penalties.
  • The rouble fell 1.4% to 73.90 against the dollar after touching the 74 mark as it headed away from the 72.53 reached on Tuesday, its strongest in more than seven months.
Published 17 Mar, 2021 08:38pm
Arabica coffee prices weaken, sugar also down
Commodities

Arabica coffee prices weaken, sugar also down

*May arabica coffee fell by 0.75 cents, or 0.6%, to $1.3375 per lb. * May raw sugar fell by 0.25 cents, or 1.5%, to 16.05 cents per lb. * May London cocoa fell by 3 pounds, or 0.2%, to 1,734 pounds a tonne.
Published 17 Mar, 2021 08:35pm
Copper rises on signs of higher demand but dollar caps gains
Commodities

Copper rises on signs of higher demand but dollar caps gains

  • Three-month copper on the London Metal Exchange (LME) rose 0.7% to $9,024.50 per tonne in official trading, having touched a 9-1/2 year peak of $9,617 last month.
  • We are still in a long term constructive environment for copper. Generally commodities are in a bull market given some of structural changes in terms of demand for energy metals.
Published 17 Mar, 2021 08:28pm
India backs AstraZeneca shot as COVID-19 cases hit three-month high
South Asia

India backs AstraZeneca shot as COVID-19 cases hit three-month high

  • The European Medicines Agency is investigating reports of 30 cases of unusual blood disorders out of 5 million recipients of the vaccine in the region.
  • "We have no signal of concern in this regard," Vinod Kumar Paul, who heads a government committee on vaccines, told a news conference, adding that experts in India had looked into the issue.
Published 17 Mar, 2021 08:26pm
Canada inflation rate ticks up in February on gas prices
USA

Canada inflation rate ticks up in February on gas prices

  • All three core measures of inflation were steady in February. CPI common, which the Bank of Canada says is the best gauge of the economy's underperformance, was flat at 1.3%.
  • Generally speaking, you don't have emergency levels of disinflationary pressures to justify emergency levels of stimulus, in my opinion.
Published 17 Mar, 2021 08:23pm
HSBC in talks to sell French retail banking to Cerberus
Money & Banking

HSBC in talks to sell French retail banking to Cerberus

  • The planned disposal is part of HSBC Chief Executive Noel Quinn's strategy to slash costs across the banking group and Reuters previously reported that Cerberus was among two remaining bidders.
  • Any sale could involve a token price, with HSBC having to plough in some 500 million euros ($595 million) to finance the necessary restructuring, Reuters previously reported.
Published 17 Mar, 2021 08:19pm
Pump prices join oil's wild ride but risk slamming brakes on recovery
Energy

Pump prices join oil's wild ride but risk slamming brakes on recovery

  • Oil prices have risen by more than 30% this year. Still, OPEC+, which groups oil producers from the Organization of the Petroleum Exporting Countries and others, is holding back on raising supply, wary about risks to economic recovery needed to support a rebound in fuel demand.
  • "It is ... extremely risky in its assumptions that high prices will not significantly affect economic recovery (and) oil demand recovery," the bank said.
Published 17 Mar, 2021 08:16pm
China's Pinduoduo quarterly revenue more than doubles
Companies

China's Pinduoduo quarterly revenue more than doubles

  • The Shanghai-based company reported 788.4 million annual active buyers for the 12 months to the end of 2020, overtaking rival Alibaba Group to become China's largest e-commerce platform by users. Alibaba recorded 779 million annual active buyers during the same period.
  • The 41-year-old Huang, who owns about 30% of Pinduoduo, will also give up his super voting rights.
Published 17 Mar, 2021 07:19pm
Brazil authorizes Shell, Gerdau to import LNG
Energy

Brazil authorizes Shell, Gerdau to import LNG

  • The authorization was granted by the Mines and Energy Ministry for a total volume of up to 36.5 million cubic meters. The permit is valid through March 31, 2024 and limited to liquefied gas, the notice said.
  • Royal Dutch Shell is expected to import LNG by sea and sell the product to operators of thermal power plants, gas distributors and consumers in the unregulated natural gas market.
Published 17 Mar, 2021 07:21pm
AerCap-GECAS deal may hurt aircraft market competition: IATA
Companies

AerCap-GECAS deal may hurt aircraft market competition: IATA

  • "We understand that the situation of the leasing companies is difficult," IATA Director General Alexandre de Juniac told Reuters. "But combining the two to have a big player (in) a very dominant situation is not good news for us."
  • AerCap declined to comment on the remarks by de Juniac, who is stepping down from IATA at the end of the month.
Published 17 Mar, 2021 07:17pm
China's Baidu raises $3.1bn from Hong Kong listing
Companies

China's Baidu raises $3.1bn from Hong Kong listing

  • New York-listed Baidu said it will sell 95 million shares at HK$252 ($32.45) apiece as part of the transaction.
  • The deal showed that the desire of Hong Kong's retail investors to buy into new stock market transactions shows no signs of slowing.
Published 17 Mar, 2021 07:07pm
US House Republicans expected to vote on ending earmarks ban
USA

US House Republicans expected to vote on ending earmarks ban

  • Republicans are in the minority in the House. Their planned vote on earmarks comes ahead of House consideration of various spending legislation and an expected large infrastructure bill.
  • Democrats already have reversed their own self-imposed ban on earmarks. Republicans halted the practice when they took the majority in 2011 amid a string of controversies over earmarks.
Published 17 Mar, 2021 07:05pm
TSX falls ahead of US Fed meeting outcome
Stocks

TSX falls ahead of US Fed meeting outcome

  • Toronto Stock Exchange's S&P/TSX composite index was down 25.48 points, or 0.14%, at 18,848.53.
  • The energy sector climbed 0.4%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6%.
Published 17 Mar, 2021 07:01pm
White House task force met to discuss Microsoft software weaknesses
USA

White House task force met to discuss Microsoft software weaknesses

  • The group, which met on Monday, "included private sector members for the first time" who were invited "based on their specific insights to this incident," she said.
  • The White House group noted that paying to mitigate the hack "weighs particularly heavily on small businesses," Psaki said.
Updated 17 Mar, 2021 07:04pm
'Tough' to withdraw us troops from Afghanistan by May 1: Biden
USA

'Tough' to withdraw us troops from Afghanistan by May 1: Biden

  • "Could happen, but it is tough," Biden said when asked in a TV interview broadcast Wednesday. "I'm in the process of making that decision now as to when they'll leave."
  • Like his predecessor, Biden has promised to end the nearly 20-year conflict and bring home more than 2,500 American troops in the country — down from about 13,000 troops a year ago.
Updated 17 Mar, 2021 06:31pm
Turkish, Greek foreign ministers to meet in Turkey on April 14
Europe

Turkish, Greek foreign ministers to meet in Turkey on April 14

  • Ankara and Athens are at odds over issues such as competing claims over their continental shelves, maritime rights and air space in the Mediterranean, energy, ethnically split Cyprus, and the status of some islands in the Aegean.
  • The two sides resumed exploratory talks after a five-year hiatus in January and have since held two rounds of talks.
Published 17 Mar, 2021 06:26pm
Malaysia announces $4.9bn in fresh stimulus to aid coronavirus recovery
South Asia

Malaysia announces $4.9bn in fresh stimulus to aid coronavirus recovery

  • Malaysia's economy declined 5.6% in 2020, its worst performance since a 7.4% fall in 1998, owing partly to strict movement curbs aimed at halting the COVID-19 spread.
  • Muhyiddin said the government would roll out 20 billion ringgit ($4.86 billion) of stimulus packages, including a 11 billion ringgit fiscal injection.
Published 17 Mar, 2021 06:24pm
Vodafone seen reaping 2.13bn euro from Frankfurt IPO
Companies

Vodafone seen reaping 2.13bn euro from Frankfurt IPO

  • The company is expected to reap 2.13 billion euros from the deal, assuming that an overallotment option is not exercised, one of the deal organisers added.
  • The British-based operator had set the initial price range for the flotation of Vantage Towers at 22.50 to 29 euros per share, before narrowing that to 24-25 euros this week. It had targeted proceeds of 2-2.8 billion euros.
Published 17 Mar, 2021 06:20pm
US natgas futures ease on milder weather forecasts for next week
Energy

US natgas futures ease on milder weather forecasts for next week

  • That small price decline came despite record liquefied natural gas (LNG) exports and forecasts for colder weather and higher than previously expected heating demand this week.
  • The amount of gas flowing to US LNG export plants, meanwhile, has averaged 10.4 bcfd so far in March.
Published 17 Mar, 2021 06:14pm
Biden vows Russia's Putin will 'pay a price' for election meddling
USA

Biden vows Russia's Putin will 'pay a price' for election meddling

  • "He will pay a price," Biden told ABC News in an interview that aired on Wednesday. Asked what the consequences would come, he said, "You'll see shortly."
  • "I know him relatively well," Biden said, adding that "the most important thing dealing with foreign leaders in my experience ... is just know the other guy."
Published 17 Mar, 2021 06:12pm
German economy to shrink by 2pc in first quarter
Europe

German economy to shrink by 2pc in first quarter

  • The biggest downside risk remains the development of the coronavirus pandemic. The question how quickly the economy can get to normal mainly hinges on the vaccination progress.
  • Council member Veronika Grimm said the AstraZeneca shot was needed to speed up Germany's already slow vaccination campaign.
Published 17 Mar, 2021 06:10pm
KKR-backed SPAC raises $1.2bn in US IPO
Stocks

KKR-backed SPAC raises $1.2bn in US IPO

  • The special purpose acquisition company (SPAC) said it sold 120 million units, up from the 100 million units it had marketed earlier, at $10 each.
  • The units are expected to begin trading on the New York Stock Exchange under the symbol "KAHC.U" on Wednesday.
Published 17 Mar, 2021 06:08pm
ABB prepares turbocharging unit for sale or spin-off, picks banks
Companies

ABB prepares turbocharging unit for sale or spin-off, picks banks

  • Chief Executive Bjorn Rosengren said last month that ABB would exit the business towards the end of 2021, adding that the business generates around 75% of its sales form services, which made it very resilient.
  • People familiar with the matter have said that the turbocharger business could raise fetch a price tag of $1.5 to $2 billion.
Published 17 Mar, 2021 06:06pm
Spain's stock market supervisor expects record six IPOs in 2021
Stocks

Spain's stock market supervisor expects record six IPOs in 2021

  • We could be speaking about half a dozen IPOs, which, if successful, would be the highest number since we have records at the commission.
  • "It's a positive phenomenon and great news for the Spanish market to have IPOs after two years with only two," he said.
Published 17 Mar, 2021 06:01pm
AT&T halting some free data services in response to California law
Companies

AT&T halting some free data services in response to California law

  • The US wireless carrier said the state law bans "sponsored data" services that allowed companies such as video providers to pay for some data usage of certain AT&T wireless customers.
  • Given that the Internet does not recognize state borders, the new law not only ends our ability to offer California customers such free data services but also similarly impacts our customers in states beyond California.
Published 17 Mar, 2021 05:55pm
Mexico plans push to contain migration near Guatemala border
USA

Mexico plans push to contain migration near Guatemala border

  • The US government said this week it is facing the biggest migrant surge on its border with Mexico in 20 years, presenting authorities a major challenge and sparking concerns inside the Mexican government.
  • "The operations will be more frequent, more continuous and we will be taking part," from next week, a member of the National Guard said, speaking on condition of anonymity.
Published 17 Mar, 2021 05:51pm
UK Johnson's ex-aide blames ‘smoking ruin’ at health ministry for COVID failures
Europe

UK Johnson's ex-aide blames ‘smoking ruin’ at health ministry for COVID failures

  • Dominic Cummings, Johnson's senior adviser until November last year, said Britain's more recent success in rolling out a rapid vaccine programme was a result of a decision to take vaccine procurement out of the ministry's hands.
  • The health ministry was "just a smoking ruin in terms of procurement and PPE and all of that", he said.
Published 17 Mar, 2021 05:49pm
Jordan tenders again to buy 120,000 tonnes feed barley
Commodities

Jordan tenders again to buy 120,000 tonnes feed barley

  • A new tender had been anticipated after Jordan cancelled its previous tender for 120,000 tonnes of barley on Tuesday after only one trading house participated.
  • Shipment in the new tender is sought in a series of possible combinations in 60,000-tonne consignments.
Published 17 Mar, 2021 05:44pm
EU threatens tougher vaccine export curbs in dispute with UK, US
Europe

EU threatens tougher vaccine export curbs in dispute with UK, US

  • "If this situation does not change, we will have to reflect on how to make exports to vaccine-producing countries dependent on their level of openness," EU Commission President Ursula von der Leyen told a news conference.
  • "We are ready to use whatever tools we need to deliver on that," von der Leyen said.
Published 17 Mar, 2021 05:42pm
COVAX vaccine-sharing scheme to send out 'hundreds of millions' of J&J shots
Europe

COVAX vaccine-sharing scheme to send out 'hundreds of millions' of J&J shots

  • COVAX, backed by WHO and the Global Alliance for Vaccines and Immunization, aims to secure 2 billion vaccine doses by the end of 2021.
  • In early March, it said the target was to deliver 237 million doses of AstraZeneca's shot to 142 countries by the end of May, and it also shipped its first Pfizer shots.
Published 17 Mar, 2021 05:40pm
Bulgaria to hold new 5G auction after legal challenge
Industry

Bulgaria to hold new 5G auction after legal challenge

  • "The regulator decided to amend its decision to speed up the process and avoid lengthy court proceedings," CRC head Ivan Dimitrov told Reuters, saying the auction date was April 6.
  • Vivacom, A1 and Telenor Bulgaria, which is owned by Czech investment group PPF, will bid for specific bands in the 3.6 GHz spectrum.
Published 17 Mar, 2021 05:39pm
As final votes cast, Dutch PM Rutte expected to stay in office after pandemic election
Europe

As final votes cast, Dutch PM Rutte expected to stay in office after pandemic election

  • The election is widely seen as a referendum on the government's performance during the crisis, in which more than 15,000 people have died of COVID-related illnesses and police have clashed with protestors opposed to lockdown measures.
  • Rutte's main rivals have criticized a slow vaccine roll out, but struggled to distinguish themselves as they support government policy.
Published 17 Mar, 2021 05:37pm
Weekly world market rice prices: USDA
Commodities

Weekly world market rice prices: USDA

  • The data is adjusted for US milling yields and location, and the resulting marketing loan gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2020 crop.
  • Rough prices were decreased, by $0.09 per cwt for long grain and by $0.10 per cwt for medium/short grain, from the previous announcement.
Published 17 Mar, 2021 05:28pm
Rouble weakens after Biden comments on Putin
Forex

Rouble weakens after Biden comments on Putin

  • Russia's Eurobonds fell after Biden's comments and the rouble extended losses that it posted after new US allegations that Putin was likely to have directed efforts to try to influence the 2020 US election.
  • Against the euro the rouble weakened 1.4% to 87.89 , heading away from the 86.5150 hit in the previous session, its strongest since mid-August.
Published 17 Mar, 2021 05:22pm
London copper rises on demand view, tight mine supply
Commodities

London copper rises on demand view, tight mine supply

  • Fundamentals remain healthy, especially with the supply and logistics disruptions in South America, while demand outlook looks promising based on positive macro data.
  • However, risk sentiment is definitely dampened with the rising US Treasury yield and a stronger US dollar in the short term, which definitely weighed on copper prices.
Published 17 Mar, 2021 05:19pm
Indian shares slump as COVID-19 cases rise again; Reliance top drag
Stocks

Indian shares slump as COVID-19 cases rise again; Reliance top drag

  • The blue chip NSE Nifty 50 index closed 1.27% lower at 14,721.30, while the benchmark S&P BSE Sensex fell 1.12% to end at 49,801.62. Both indexes have now posted four straight sessions of losses.
  • A rise in US bond yields has also limited gains for Nifty and Sensex this month to about 3%, versus a 6.6% jump in February.
Published 17 Mar, 2021 05:08pm
UAE hospital offers free online COVID-19 rehabilitation to patients in Pakistan
Pakistan

UAE hospital offers free online COVID-19 rehabilitation to patients in Pakistan

  • After registration they will undergo the online health scan after which they will receive a health prescription tailored to their individual situation.
  • COVID-19 rehabilitation improves the health prospects of COVID-19 patients through optimizing health and functioning outcomes, facilitating early discharge and reducing the risk of re-admission, said WHO.
Updated 17 Mar, 2021 05:17pm
Dreaming shackles
Perspectives

Dreaming shackles

Alarm rings and I come out of my rutted pattern of sleep deprivation. The loud snoring from the other side of the ...
Published 17 Mar, 2021 04:55pm
IT Ministry launches “Tech Destination Pakistan” initiative
Pakistan

IT Ministry launches “Tech Destination Pakistan” initiative

  • On Wednesday, Pakistan's IT Minister Syed Aminul Haque announced the launch of Tech Destination Pakistan, an initiative which aims to promote the country's information technology industry.
  • He also mentioned that this improved performance has been acknowledged by the State Bank of Pakistan, expressing his optimism that the IT exports will cross the target of $2 billion by the end of the year.
Published 17 Mar, 2021 04:03pm
Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment
Business & Economy

Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment

  • Pakistan's largest shoe exporter, Service Global Footwear Ltd., has planned an initial public offering (IPO) to raise funds from the domestic market to invest in the parent company's tire joint-venture.
  • Service Global Footwear plans to use the IPO proceeds to buy about 20% stake in a joint venture set up by Service Industries and China’s Chaoyang Long March Tyre Co.
Updated 17 Mar, 2021 02:44pm
COVID-19 positivity rate jumps up to 8.4% in Islamabad
Pakistan

COVID-19 positivity rate jumps up to 8.4% in Islamabad

  • The official said that about 5,260 tests were conducted in Islamabad during past 24 hours, out of which 443 came back positive.
  • Given the alarming numbers, the health official warned against the imposition of more smart lockdowns in the city.
Published 17 Mar, 2021 02:32pm
Oil demand to reach record by 2026: IEA
Energy

Oil demand to reach record by 2026: IEA

  • "By contrast, demand in many advanced economies, where vehicle ownership and oil use per capita are much higher, is not expected to return to pre-crisis levels," the IEA said.
Published 17 Mar, 2021 02:14pm
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