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Archive - 2021-03-18
US Cash Soymeal-Basis offers steady in subdued trade
Commodities

US Cash Soymeal-Basis offers steady in subdued trade

  • End users, such as hog and poultry feeders, have covered their near-term needs at high prices and were reluctant to book more soymeal despite a setback in Chicago Board of Trade (CBOT) soymeal futures, one broker said this week.
  • The CBOT May board crush, an indication of crushers' profit margins, was last down 1-3/4 cents at 72 cents per bushel.
Published 18 Mar, 2021 10:09pm
Google's privacy push draws US antitrust scrutiny
Technology

Google's privacy push draws US antitrust scrutiny

  • Alphabet Inc's Google a year ago announced it would ban some cookies in its Chrome browser to increase user privacy. Over the last two months, Google released more details, leading online ads rivals to complain about losing the data-gathering tool.
  • Executives from more than a dozen companies from an array of sectors have spoken with Justice Department investigators, one of the sources said.
Published 18 Mar, 2021 10:06pm
Mexico to tighten borders against COVID-19 as US plans vaccine help
USA

Mexico to tighten borders against COVID-19 as US plans vaccine help

  • Mexico has been pressing the US government for a loan of vaccines to help its drive to tackle COVID-19, and President Joe Biden is under increasing pressure to reduce a recent surge in migrants from Central America reaching the US border.
  • Mexico's Foreign Minister Marcelo Ebrard confirmed on Twitter the two countries are working on a vaccine deal and said that he would provide details of the "good news" on Friday.
Published 18 Mar, 2021 10:04pm
Egypt's central bank keeps key interest rates on hold
Money & Banking

Egypt's central bank keeps key interest rates on hold

  • The bank's monetary policy committee held the overnight lending rate at 9.25% and the overnight deposit rate at 8.25% for a third consecutive time, after cutting rates in September and November.
  • "Meanwhile, international prices for oil, food and other commodities have surged to post-pandemic highs, with the level of uncertainty increasing regarding their future price trajectories," the bank said.
Published 18 Mar, 2021 10:01pm
South African rand retreats from post-Fed rally, stocks edge up
Forex

South African rand retreats from post-Fed rally, stocks edge up

  • The SARB has most likely reached the end of its lowering cycle and will start moving towards a hiking cycle, albeit only from next year onwards.
  • The slow vaccination roll-out programme, which raises the concern of a third wave of Covid-19 infections, and more intensive electricity outages remain the biggest downside risk to the economy over the short term.
Published 18 Mar, 2021 09:52pm
Dortmund sign promising French teenager Coulibaly from PSG
Sports

Dortmund sign promising French teenager Coulibaly from PSG

  • The 17-year-old centre back, who is a PSG academy product and has yet to play at senior level, will join Dortmund for the 2021-22 campaign.
  • I'm really looking forward to being able to play for such a traditional club in the future. I'm grateful for the training I enjoyed at PSG.
Published 18 Mar, 2021 09:49pm
Bayern head into home straight buoyed by Lazio win
Sports

Bayern head into home straight buoyed by Lazio win

  • Flick was impressed with Wednesday's 2-1 win which gave the German and European champions a 6-2 aggregate victory over the Serie A side as Bayern reached the quarter-finals for a record 19th time.
  • "The way we played football is how I imagine it," Flick said after Bayern strolled into the last eight.
Published 18 Mar, 2021 09:46pm
Czech central bank sets limits on bank dividends
Money & Banking

Czech central bank sets limits on bank dividends

  • The bank said dividend proposals would be assessed individually and it expected to be able to complete assessments in the third quarter.
  • Komercni Banka intends, as soon as the regulators allow, to return the capital surplus exceeding the volume needed in accordance with the outlook for organic and inorganic growth in risk-weighted assets and for capital requirements, to shareholders.
Published 18 Mar, 2021 09:44pm
Russia's crude oil export set to drop 3pc in Q2 vs Q1
Energy

Russia's crude oil export set to drop 3pc in Q2 vs Q1

  • Russia plans to decrease its oil exports in the second quarter 2021 despite an OPEC+ decision to allow the state an additional output hike from April.
  • On a daily basis, Russia's oil exports will drop by some 3% in April-June compared to the first quarter of 2021, Reuters calculations showed.
Published 18 Mar, 2021 09:41pm
Tunisia buys soft wheat, durum wheat and feed barley in tender
Commodities

Tunisia buys soft wheat, durum wheat and feed barley in tender

  • The soft wheat was said to have been bought at $298.49 a tonne on a cost and freight (c&f) basis for four consignments and $302.19 a tonne c&f for one consignment, all from trading house Casillo.
  • The durum was bought in two consignments, all at an estimated $374.68 a tonne c&f, also from Casillo.
Published 18 Mar, 2021 09:39pm
France's Macron admonishes Iran amid slow progress on nuclear talks
Europe

France's Macron admonishes Iran amid slow progress on nuclear talks

  • Both sides so far appear unwilling to compromise. The Iranian New Year this week and campaigning for the country's presidential election in June are also likely to complicate matters.
  • "Iran must make the expected gestures and behave in a responsible way," Macron added.
Published 18 Mar, 2021 09:39pm
Indian court restrains Future chief from selling assets in dispute with Amazon
South Asia

Indian court restrains Future chief from selling assets in dispute with Amazon

  • Amazon is locked in a dispute with Future, which it says allegedly violated certain contracts by selling its retail assets to market leader Reliance Industries last year. Future denies any wrongdoing.
  • Justice J.R. Midha also said Biyani and other respondents cannot dispose their assets. "The assets ... are hereby attached," the order said.
Published 18 Mar, 2021 09:31pm
US terrorism sponsor listing further complicates Cuba banking
USA

US terrorism sponsor listing further complicates Cuba banking

  • The businessmen and diplomats, all of whom requested anonymity, said the few Western banks willing to stand up to already comprehensive US sanctions on the island have stopped transactions or implemented new layers of compliance.
  • "These types of letters are nothing new but are increasingly frequent and common," the businessman said. He asked that the bank not be named.
Published 18 Mar, 2021 09:22pm
Saudi's January crude exports hit highest in nine months
Energy

Saudi's January crude exports hit highest in nine months

  • Crude exports from the world's biggest oil exporter rose to 6.582 million barrels per day (bpd) in January from December's 6.495 million bpd.
  • Total crude and oil products exports rose to 7.75 million bpd in January from 7.71 million bpd a month earlier.
Published 18 Mar, 2021 09:12pm
IHC Moved Against 'Aurat March'
Pakistan

IHC Moved Against 'Aurat March'

  • The petition prayed the court to issue directives for banning said society foundation and take action against the organizers of ‘Aurat March’.
Published 18 Mar, 2021 09:04pm
Nikola, Lordstown shares drop in latest sign of turbulence for EV sector
Stocks

Nikola, Lordstown shares drop in latest sign of turbulence for EV sector

  • Nikola shares were down 3.5% in premarket trading while Lordstown was trading 4.8% lower, adding to declines of roughly 50% from their highs this year amid concern about the electric truck makers' ability to delivery on technology, as well as worries about rising yields and valuation.
  • Nikola said on Wednesday that South Korea's Hanwha Corp has decided to sell up to half of its stake in the company.
Published 18 Mar, 2021 08:41pm
US natgas futures slide ahead of expected small storage withdrawal
Energy

US natgas futures slide ahead of expected small storage withdrawal

  • If correct, last week's decrease would cut stockpiles to 1.776 trillion cubic feet (tcf), which would be 5.3% below the five-year average of 1.875 tcf for this time of year.
  • Front-month gas futures fell 3 cents, or 1.2%, to $2.498 per million British thermal units.
Published 18 Mar, 2021 08:34pm
Indonesia urges probe into All England exclusion
Sports

Indonesia urges probe into All England exclusion

  • "I lament what happened to the Indonesian badminton team," minister Zainudin Amali said in a streamed conference on Thursday.
  • "I urge the association to take measures so that we don't get treated this way," the minister added.
Published 18 Mar, 2021 08:32pm
Ronaldo pushed for Portugal to face Azerbaijan in Turin: reports
Sports

Ronaldo pushed for Portugal to face Azerbaijan in Turin: reports

  • Earlier this month, Portugal were granted permission to change the location of their qualifier against Azerbaijan from Lisbon to Turin over coronavirus concerns, and several Italian newspapers suggest Ronaldo played a part in the move.
  • Gazzetta dello Sport and Tuttosport said Portugal's all-time top goalscorer also negotiated with Juventus for his compatriots to use the club's Continassa sports centre and for the team to stay at J|Hotel next to the training base.
Published 18 Mar, 2021 08:17pm
Copper firm on supply concern, but dollar weighs
Commodities

Copper firm on supply concern, but dollar weighs

  • Benchmark copper on the London Metal Exchange traded up 0.1% at $9,077.5 a tonne in official rings.
  • Copper and other base metals have struggled to find clear direction in the last few weeks thanks to macro market jitters and the bond market tantrum which caused consternation in cross-asset markets.
Published 18 Mar, 2021 08:13pm
Wheat down 3-4 cents, corn down 1-2, soybeans down 7-10
Commodities

Wheat down 3-4 cents, corn down 1-2, soybeans down 7-10

  • Wheat heads lower on improving crop weather in the US Plains winter wheat belt and a lack of supportive news.
  • CBOT May soft red winter wheat last traded down 3-3/4 cents at $6.36-1/4 per bushel. K.C. May hard red winter wheat was last down 6 cents at $5.95 a bushel and MGEX May spring wheat was down 2-3/4 cents at $6.30-1/2.
Published 18 Mar, 2021 08:10pm
Bonds crash stock market rally
Stocks

Bonds crash stock market rally

  • Wall Street rallied on the news, with the Dow ending above 33,000 points for the first time, while the S&P 500 also chalked up a record.
Published 18 Mar, 2021 08:08pm
Wall Street set to struggle as bond rumblings return
Stocks

Wall Street set to struggle as bond rumblings return

  • Wall Street expected to dip as yields brush 1.75%.
  • European and Asia supported by Fed's bullish view.
  • Fed sees 2021 GDP growth of 6.5%, unemployment at 4.5%.
  • Fed says will keep rates low through 2023.
  • Weekly jobless claims higher than expected.
Published 18 Mar, 2021 08:05pm
BoE's Haldane expects rapid UK recovery soon
Money & Banking

BoE's Haldane expects rapid UK recovery soon

  • "As I've been saying for months - drawing on the economics of coiled springs, and crouching tigers, and 'Chicken Lickens' - I do think more likely than not we are (set) for a rapid-fire recovery. That is coming, and I think that is coming soon," he said.
Published 18 Mar, 2021 07:58pm
Former captain De Rossi joins Mancini's Italy coaching staff
Sports

Former captain De Rossi joins Mancini's Italy coaching staff

  • Ex-AS Roma midfielder De Rossi is fourth on Italys' all-time appearance list having played 117 times for the Azzurri, and takes up his first coaching role after retiring from playing last year when he left Boca Juniors.
  • I'm proud to start this new career with the national team and I thank both President (Gabriele) Gravina and coach Mancini for the opportunity.
Published 18 Mar, 2021 07:56pm
Relegation trapdoor creaking as Newcastle face huge Brighton clash
Sports

Relegation trapdoor creaking as Newcastle face huge Brighton clash

  • Seven months after that deal collapsed, however, the nightmare scenario of relegation from the Premier League looms large for a club mired in mediocrity.
  • Should that happen few on Tyneside will be surprised as optimism among the faithful that things will ever change for the better appears to be draining away.
Published 18 Mar, 2021 07:53pm
India's Kalyan Jewellers IPO loses shine, sees tepid demand
Stocks

India's Kalyan Jewellers IPO loses shine, sees tepid demand

  • The numbers compare unfavourably to other listings this year, including for paint maker Indigo Paints Ltd, which was 50 times oversubscribed, and engineering firm MTAR Technologies Ltd, oversubscribed more than 100 times.
  • Kalyan's offering of 95.71 million shares - worth 8.33 billion rupees at the upper end of the company's IPO price range of 86-87 rupees per share - had drawn bids by 1130 GMT on Thursday worth 10.66 billion rupees ($146.6 million).
Published 18 Mar, 2021 07:51pm
Chile's lower chamber of deputies set to decide fate of mining royalty bill
USA

Chile's lower chamber of deputies set to decide fate of mining royalty bill

  • Chile's sprawling copper industry maintains it has already hit its limit in terms of tax burden, and that hiking royalties could put some smaller mines, with higher-costs, out of business.
  • Chile's National Mining Society (Sonami) told Reuters that the bill was also unconstitutional, and has repeatedly warned that its passage would could harm investment.
Published 18 Mar, 2021 07:50pm
Touting US ties, Bolsonaro's office releases Biden letter on climate, pandemic
USA

Touting US ties, Bolsonaro's office releases Biden letter on climate, pandemic

  • Last week, Brazil's Supreme Court annulled Lula's graft convictions, upending the 2022 presidential election and teeing up a likely showdown between Lula and Bolsonaro.
  • Bolsonaro has been dismissive of the coronavirus and vaccines but faces growing pressure with numbers of infections and deaths reaching record highs in Brazil.
Published 18 Mar, 2021 07:47pm
UAE tuition increase freezes create uncertainty for GEMS: Moody's
Middle East

UAE tuition increase freezes create uncertainty for GEMS: Moody's

  • "They nonetheless create a degree of uncertainty regarding GEMS' ability to increase tuition fees consistently in the future, which may further slow down its deleveraging trajectory," Moody's said.
  • The agency estimates GEMS generates around three quarters of its revenue in Dubai and Abu Dhabi, the economies of which have suffered from restrictions to stem the spread of the coronavirus.
Published 18 Mar, 2021 07:45pm
INEOS buys Hess Corp's Danish oilfields for $150mn
Companies

INEOS buys Hess Corp's Danish oilfields for $150mn

  • INEOS Energy was formed late last year, incorporating the group's existing oil and gas assets, and is chaired by former BP finance chief Brian Gilvary.
  • The Hess deal will increase the group's oil output of about 60,000 barrels of oil equivalent per day (boed) by around 6,000 barrels per day.
Published 18 Mar, 2021 07:42pm
Travel on US roads fell 11.3pc in January over 2020 levels
USA

Travel on US roads fell 11.3pc in January over 2020 levels

  • For all of 2020, road travel fell 13.2% to 2.83 trillion miles, the lowest yearly total since 2001. Travel on US roads fell 10.3% in December. In January, Americans logged 223.3 billion miles, with the biggest decline in the Northeast United States, where driving was down 16.2%.
Published 18 Mar, 2021 07:40pm
Pandemic pushes 32mn Indians out of middle class, says Pew Research
South Asia

Pandemic pushes 32mn Indians out of middle class, says Pew Research

  • India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the COVID-19 downturn.
  • In January last year, the World Bank forecast almost the same level of economic growth for India and China, at 5.8% and 5.9% respectively, in 2020.
Published 18 Mar, 2021 07:38pm
TSX falls as commodity-linked stocks, dismal jobs data weigh
Stocks

TSX falls as commodity-linked stocks, dismal jobs data weigh

  • The energy sector dropped 1.4% on weaker crude prices, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3%.
  • Toronto Stock Exchange's S&P/TSX composite index was down 55.31 points, or 0.29%, at 18,927.79.
Published 18 Mar, 2021 07:30pm
Barca's Dembele back in France squad for World Cup qualifiers
Sports

Barca's Dembele back in France squad for World Cup qualifiers

  • Dembele, who has three goals in 21 La Liga appearances for Barca this season, won the last of his 21 caps in a 2-0 defeat against the Netherlands in the Nations Cup in November 2018.
  • "He is still a young player. He has not been spared by injuries," coach Didier Deschamps told a news conference after naming the 23-year-old in a 26-man squad.
Published 18 Mar, 2021 07:24pm
Eni files request to settle Congo oil permit probe
Companies

Eni files request to settle Congo oil permit probe

  • The sources said Eni's move came after prosecutors agreed to downgrade the allegations from international bribery to undue inducement.
  • Settling a criminal case in Italy does not involve any admission of guilt or responsibility.
Published 18 Mar, 2021 07:22pm
Fake batch of Sputnik V vaccine seized in Mexico, Russian wealth fund says
Europe

Fake batch of Sputnik V vaccine seized in Mexico, Russian wealth fund says

  • "Earlier today Mexican authorities seized a batch of vaccines designed and packaged as Sputnik V," the RDIF sovereign wealth fund said.
  • The first shipment of the Sputnik V vaccine - a delivery of 200,000 doses - arrived in Mexico on Feb. 23. It was approved for emergency use by Mexican regulators earlier last month.
Published 18 Mar, 2021 07:14pm
UAE economy to grow 2.5pc in 2021 after shrinking 5.8pc last year
Money & Banking

UAE economy to grow 2.5pc in 2021 after shrinking 5.8pc last year

  • The coronavirus crisis hit the Gulf state hard last year, both via the shock of low oil prices and the huge toll it took on vital non-oil economic sectors such as tourism.
  • Non-oil GDP is likely to grow 3.6% this year, however, while oil GDP is likely to remain flat because of production cuts agreed by OPEC and its allies, the central bank said.
Published 18 Mar, 2021 06:57pm
Irish goods imports from Britain fall 65pc in January following Brexit
Europe

Irish goods imports from Britain fall 65pc in January following Brexit

  • The value of imports from Britain, which does not include the British region of Northern Ireland, fell to 497 million euros in January compared with 1,403 million euros in the same period a year ago, the Central Statistics Office said.
  • Imports from Northern Ireland increased to 177 million euros from 161 million in January last year, it said.
Published 18 Mar, 2021 06:50pm
China's SAIC partners with US lidar maker Luminar on self-driving cars
Companies

China's SAIC partners with US lidar maker Luminar on self-driving cars

  • Laser-based lidar sensors help detect objects ahead of and around the vehicle, and are a key component of many self-driving systems being developed by automakers and suppliers.
  • Luminar, founded in 2012, is one of several US lidar manufacturers in the past year to go public via reverse mergers with blank-check companies.
Published 18 Mar, 2021 06:36pm
Renault projects its electric, hybrid car sales will double in 2021
Companies

Renault projects its electric, hybrid car sales will double in 2021

  • Car companies are battling to stay ahead of a shift towards zero emission vehicles, a market already dominated by specialist Tesla and Germany's Volkswagen, which is ramping up its production efforts and investments.
  • The wider Volkswagen company, which also includes brands such as Seat and Audi brands, is targeting 1 million electrified vehicle deliveries in 2021, however.
Updated 18 Mar, 2021 06:48pm
Seven additional players to join national camp
Sports

Seven additional players to join national camp

  • These players – Amad Butt, Faisal Akram, Khushdil Shah, Muhammad Imran, Naseem Shah, Shahnawaz Dahani and Zahid Mahmood – have been invited so that the coaching staff continues to work on their development.
  • The men’s national selection committee has also invited Azam Khan and Sohaib Maqsood at the National High Performance Centre in Lahore.
Updated 18 Mar, 2021 06:21pm
Gold imports fall 52.55pc in 8 months
Pakistan

Gold imports fall 52.55pc in 8 months

  • The gold imports into the country during July-February (2020-21) were recorded at $5.310 million as compared to the imports of $11.190 million during July-February (2019-20).
Published 18 Mar, 2021 06:20pm
Spanish lawmakers approve bill legalising euthanasia
Europe

Spanish lawmakers approve bill legalising euthanasia

  • The lower house of parliament's vote in a final reading was 202 in favour, 141 against and 2 abstentions. Until now, helping someone end their life in Spain carried a jail term of up to 10 years.
  • Today is an important day: we are heading towards the recognition of human rights. We are heading towards a more humane and fair society," Health Minister Carolina Darias told lawmakers.
Published 18 Mar, 2021 06:18pm
Turkish cenbank hikes rates more than expected to 19pc
Money & Banking

Turkish cenbank hikes rates more than expected to 19pc

  • The key one-week repo rate is the highest of any big economy and it is back to levels last touched in mid-2019. It had stood at 17% since December after aggressive monetary tightening last year.
  • The central bank has now tightened policy by 875 basis points since Erdogan appointed Agbal in November, when the lira touched a record low. It had rallied 20% after the appointment.
Published 18 Mar, 2021 06:12pm
IT exports to reach $5bn
Pakistan

IT exports to reach $5bn

  • The country's IT sector exports have registered a 40 percent increase during the first half of the current fiscal year (July-December), he said.
Published 18 Mar, 2021 06:13pm
Nokia signs 5G equipment deal with AT&T
Companies

Nokia signs 5G equipment deal with AT&T

  • Nokia said its portfolio for C-Band, meaning satellite transmissions in the 4-8GHz frequency range, includes support for different 5G networks, cloud-based implementations and Open RAN products.
  • C-Band spectrum provides a good balance of both capacity and coverage, while also allowing rapid 5G rollout and fast introduction of services.
Published 18 Mar, 2021 06:08pm
South Africa's central bank to hold repo at record low through 2021
Money & Banking

South Africa's central bank to hold repo at record low through 2021

  • The economy contracted 7.0% last year despite the Reserve Bank cutting interest rates by a cumulative 300 basis points to counteract the damage caused by pandemic-led lockdowns.
  • All but one economist out of 25 polled in the past week said the Reserve Bank would hold interest rates at 3.5%. The lone voice predicted a 25 basis points cut next week.
Published 18 Mar, 2021 06:06pm
Turkish net FX reserves fell to $10.96bn on March 12
Money & Banking

Turkish net FX reserves fell to $10.96bn on March 12

  • The exchange rate used by Reuters on Thursday was 7.4446 compared to 7.4524 the previous week.
  • The reserves plunged last year as state banks sold off an estimated $130 billion to stabilise the lira, which still lost 20% of its value in 2020. Net forex reserves were around $41 billion at the end of 2019.
Published 18 Mar, 2021 06:04pm
Kenya's KCB Group expects restructured loans to halve in Q2
Money & Banking

Kenya's KCB Group expects restructured loans to halve in Q2

  • The bank, which also operates in Rwanda, Burundi, Tanzania, Uganda and South Sudan, said late on Wednesday while releasing its earning results, it had restructured 106.1 billion shillings ($967 million), or 19.6%, of its total loan book for 2020.
  • "In my view ... today we are seeing 30% (of the restructured loans resuming normal operations) by the first quarter, it will improve into 50% in the second quarter," he added.
Published 18 Mar, 2021 05:56pm
Turks' hard currency holdings rise again after brief decline
Forex

Turks' hard currency holdings rise again after brief decline

  • The holdings have eased from a record high of $236.11 billion in January. When adjusted with the parity effect, the data showed the hard currency holdings dropped by $195 million in the week to March 12.
  • Data also showed on Thursday that foreign investors sold $126.4 million worth of Turkish government bonds in the week to March 5, as well as $117.6 million worth of stocks.
Published 18 Mar, 2021 05:45pm
Sindh faces Rs80bn shortfall in federal transfers: CM
Pakistan

Sindh faces Rs80bn shortfall in federal transfers: CM

  • Shah said that under the constitution, the provinces had given the task of tax collection to the federal government and then distribute 57.7 percent of its total collection among the federating units as per NFC formula.
Published 18 Mar, 2021 05:45pm
Copa del Rey final to be held behind closed doors
Sports

Copa del Rey final to be held behind closed doors

  • Spanish radio station Cadena SER reported on Wednesday that the RFEF planned to allow the Cartuja Stadium in Seville to operate at 20-25% of its 60,000 capacity.
  • "This was relayed to both clubs, who said they would accept and back any decision that the RFEF took.
Published 18 Mar, 2021 05:43pm
BNY Mellon invests in cryptocurrency storage firm Fireblocks
Money & Banking

BNY Mellon invests in cryptocurrency storage firm Fireblocks

  • BNY Mellon's investment was part of a $133 million funding round that also saw participation from hedge fund Coatue Management, investment firm Ribbit Capital, growth equity firm Stripes and SVB Capital.
  • Fireblocks has a presence in Europe, Asia and North America, with customers including banks, neobanks, exchanges, hedge funds and market makers.
Published 18 Mar, 2021 05:40pm
South Korea seen revising rules on tests for foreign workers
South Asia

South Korea seen revising rules on tests for foreign workers

  • Seoul and neighbouring Gyeonggi Province are among a number of local governments that have ordered all foreign workers to be tested, drawing accusations of xenophobia.
  • The news came after Britain formally protested to South Korea, multiple countries sought an explanation and several South Korean leaders called for the rules to be rescinded.
Published 18 Mar, 2021 05:36pm
Stable Indo-Pak relations key to unlocking South Asia's potential: COAS Bajwa
South Asia

Stable Indo-Pak relations key to unlocking South Asia's potential: COAS Bajwa

  • On Thursday, Chief of Army Staff General Qamar Javed Bajwa stated that stable relations between India and Pakistan are the key to unlocking the potential of South Asia, ensuring regional connectivity and cooperation.
  • Addressing the Islamabad Security Dialogue, Gen. Bajwa noted that the region's potential has been hindered by the disputes between the two "nuclear neighbours".
Updated 18 Mar, 2021 05:39pm
African Union says use of AstraZeneca COVID shot should continue
Africa

African Union says use of AstraZeneca COVID shot should continue

  • The recommendation comes after more than a dozen European countries suspended use of the AstraZeneca vaccine amid concerns over the risk of blood clots.
  • John Nkengasong, director of the Africa Centers for Disease Control and Prevention, told a news conference the "benefits still outweigh the risks" and countries should "move forward".
Published 18 Mar, 2021 05:32pm
Oil falls as inventories rise and vaccine rollout stalls
Energy

Oil falls as inventories rise and vaccine rollout stalls

  • Brent crude fell 50 cents, or 0.74%, to $67.50 a barrel by 1150 GMT after dropping 0.82% on Wednesday.
  • Short-term developments - stuttering vaccine rollouts and the build in US oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging.
Published 18 Mar, 2021 05:22pm
Asian gold demand rebounding as Swiss exports to India surge
Commodities

Asian gold demand rebounding as Swiss exports to India surge

  • Switzerland is the world's biggest gold refining centre and transit hub, while India and China are the two biggest gold consumers and Thailand is a regional trade hub.
  • One reason for the pick-up is a steady decline in gold prices from record highs last August. Most gold in Asia is sold as jewellery and buyers are put off by high prices.
Published 18 Mar, 2021 05:13pm
Kenya's shilling to ease, Nigeria's naira to hold steady
Forex

Kenya's shilling to ease, Nigeria's naira to hold steady

  • The Kenyan shilling is seen easing, on strong dollar demand from general merchandise importers and manufacturers.
  • Commercial banks quoted the shilling at 109.75/109.95, compared with last Thursday's close of 109.55/109.75.
Published 18 Mar, 2021 05:09pm
Indian shares slip on fears of fund outflow
Stocks

Indian shares slip on fears of fund outflow

  • The NSE Nifty 50 index shed 1.11% to end at 14,557.85, while the S&P BSE Sensex slipped 1.17% to close at 49,216.52.
  • India's central bank may have to delay the start of liquidity normalisation by three months amid the rising cases, analysts say.
Published 18 Mar, 2021 05:09pm
PM Imran gets vaccinated for COVID-19
Pakistan

PM Imran gets vaccinated for COVID-19

  • PM Imran appealed to the people to continue exercising precaution in view of the third wave of the pandemic.
  • President Arif Alvi and his wife Samina Alvi had been administered the vaccine earlier in the week.
Updated 18 Mar, 2021 05:01pm
Amir reveals how PCB's bio secure bubble got burst
Sports

Amir reveals how PCB's bio secure bubble got burst

  • The PCB had to postpone the sixth edition of the PSL after seven players including staff members were tested positive for coronavirus.
  • “I observed here [during the PSL] that the players were not allowed to go out but outsiders were allowed [in the hotel],” says Amir.
Published 18 Mar, 2021 04:27pm
Covid may become 'seasonal', UN says
World

Covid may become 'seasonal', UN says

  • "This has fuelled expectations that, if it persists for many years, Covid-19 will prove to be a strongly seasonal disease," it said in a statement.
Updated 18 Mar, 2021 04:06pm
Coronavirus vaccine reaches Antarctica
World

Coronavirus vaccine reaches Antarctica

  • People stationed at two other Chilean bases in Antarctica are due to receive their first doses, but those were delayed by adverse weather conditions, Videla said.
Updated 18 Mar, 2021 04:05pm
COVID-19 reinfection rare, more common in people over 65: study
World

COVID-19 reinfection rare, more common in people over 65: study

  • “We did not identify anything to indicate that protection against reinfection declines within six months of having Covid-19,” said Daniela Michlmayr.
  • Ratios of positive and negative test results–taking account of differences in age, sex, and time since infection–were used to produce estimates of protection against reinfection.
Published 18 Mar, 2021 03:19pm
Digital Financial Transactions show double-digit growth in Pakistan: SBP
Business & Finance

Digital Financial Transactions show double-digit growth in Pakistan: SBP

  • “In the last few years, digital payment transactions in Pakistan have shown significant growth, reflecting the favourable impact of the SBP’s policies in shifting customer preferences. Expansion in digital payment infrastructure as well as the emergence of new payment aggregators have played a role in this growth,” said SBP.
Published 18 Mar, 2021 02:12pm