News Archives for Latest - 2021-03-18

Pakistan

Hafeez Sheikh to continue work as Finance Minister: Sheikh Rashid

He said money had played an important role in defeating Abdul Hafeez Sheikh in the recent Senate elections against Yousaf Raza Gillani.

Published 18 Mar, 2021 11:27pm

Pakistan

Parliamentary Committee on Electoral Reforms to be notified after finalization of Senate parliamentary party leaders’ list

The parliamentary leaders were informed that the speaker in consultation with the chairman Senate had decided to constitute the committee comprising the leaders of the parliamentary parties.

Published 18 Mar, 2021 11:24pm

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

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

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

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

Forex

Brazil's real, Turkish lira rise after rate hikes; other EM FX fall

Real jumps as much as 1.7%; c.bank hikes by 75 bps.
Mexican peso slips from one-month highs; GDP shrinks in Feb.
Russian rouble resumes slide after Putin responds to Biden.
Brazilian carrier Gol drops; says Q1 will be worse than expected.

Published 18 Mar, 2021 09:59pm

Forex

Canadian dollar retreats from 3-year high as bond yields climb

Loonie touches a 3-year high intraday at 1.2365.
Canadian new home prices rise 1.9% in February from January.
Price of US oil falls 0.9%.
Canadian bond yields rise across a steeper curve.

Published 18 Mar, 2021 09:57pm

Forex

Dollar recovers from post-Fed drop as higher yields support

US 10-year Treasury rises past 1.70% to new 13-month high.
Sterling slips as BoE says recovery outlook still unclear.

Published 18 Mar, 2021 09:54pm

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

Money & Banking

Goldman Sachs pledges another $500mn in funding for minority-owned businesses

Under Launch with GS, Goldman said it had invested more than $450 million of the $500 million it had previously promised
in a number of companies, including BentoBox, which offers websites for restaurants, and lease accounting software provider LeaseQuery.

Published 18 Mar, 2021 09:50pm

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

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

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

Technology

Facebook developing wristband to support augmented reality glasses

Wearers of the band would be able to interact with the virtual world with their finger movements, the company said in a blog post.
The AR-supporting wearable device will also be capable of detecting nerve signals to interpret complex hand gestures and moves.

Published 18 Mar, 2021 09:43pm

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

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

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

USA

US weekly jobless claims increase; mid-Atlantic factory activity near 50-year high

Weekly jobless claims increase 45,000 to 770,000.
Continuing claims drop 18,000 to 4.124 million.
Mid-Atlantic factory activity surges in March.

Published 18 Mar, 2021 09:35pm

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

Companies

Britain's BT to build fibre 'like fury' after regulator's greenlight

Regulator Ofcom aims to encourage fibre build.
Gives companies more flexibility on pricing.
BT has certainty to invest 12 billion pounds in its network.

Published 18 Mar, 2021 09:29pm

Financial

US yields scale new heights, tech drop pressures Wall St

10-yr US yield tops 1.75% as investors digest Fed.
S&P 500 drops, tech-heavy Nasdaq slumps.
MSCI global index little changed as Europe's STOXX gains.
Dollar recovers from post-Fed drop, pressuring oil.

Published 18 Mar, 2021 09:24pm

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

Pakistan

Fazl, Nawaz agree to stage long march without PPP: report

“PDM will do long march towards Islamabad at any cost,” said JUI-F chief in a telephonic conversation with former prime minister.
He also told Nawaz that he had directed his party workers to prepare for an upcoming long march.

Updated 18 Mar, 2021 09:26pm

USA

US plans to send 4 million doses of AstraZeneca vaccine to Mexico, Canada

Mexico will receive 2.5 million does of the vaccine and Canada will receive 1.5 million doses, the official said.
"This virus has no borders," the official told Reuters on condition of anonymity. "We only put the virus behind us if we're helping our global partners."

Published 18 Mar, 2021 09:16pm

Middle East

Lebanon's Hariri says new cabinet, IMF necessary to halt collapse

Hariri says sees opportunity to be ceased after Aoun meeting
IMF talks had stalled last year as bankers, politicians rowed
Meeting comes after heated exchange Wednesday night
Strikes and shop closures continue amidst financial collapse.

Published 18 Mar, 2021 09:12pm

Pakistan

Toshakhan reference adjourned till Mar 25

The court recorded the statement of NAB witness and former customs' officer Ishtiaq Ahmed.

Published 18 Mar, 2021 09:12pm

Pakistan

Qamar expresses concern on current import of wheat

The committee invited the Secretary, Ministry of National Food Security and Research for a briefing on wheat, in the next meeting.

Published 18 Mar, 2021 09:11pm

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

Energy

Oil falls 4pc as dollar rises and vaccine rollout stalls

Benchmarks fall for fifth session to two-week lows.
US stockpiles may grow more after WTI flip into contango.
Stronger dollar adds further pressure to oil prices.

Published 18 Mar, 2021 09:07pm

Pakistan

Alarming increase in coronavirus cases being observed: Dr Yasmin

She said the government had enhanced the treatment facilities for coronavirus patient.

Published 18 Mar, 2021 09:08pm

Pakistan

PM directs timeline-based execution of Ravi City, Business District projects

The prime minister said this in a briefing given to him on the Ravi City project wherein he was also apprised of the progress in agri-farming in the Ravi City.

Published 18 Mar, 2021 09:07pm

Stocks

Nasdaq slumps as surge in bond yields pressures tech stocks

10-year Treasury yields at highest since Jan 2020.
Weekly jobless claims rise unexpectedly in the latest week.
Value stocks outperform growth names.
Indexes: Dow up 0.5%, S&P down 0.4%, Nasdaq drops 1.4%.

Updated 18 Mar, 2021 09:09pm

Pakistan

Court adjourns Pink Residency reference till March 24

The court adjourned hearing of Pink Residency reference without proceedings due to absence of witness Mushtaq Ali.

Published 18 Mar, 2021 09:05pm

Pakistan

IHC seeks petitioner's arguments in Dr. Afia case

The court granted time and sought argument on next date.

Published 18 Mar, 2021 09:04pm

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

Pakistan

Ministry of commerce approves Rs950 million for export related projects

The Committee deliberated various proposals relating to export sectors of Pakistan like leather, cutlery, fisheries, textile, sports goods, garments etc.

Published 18 Mar, 2021 09:02pm

Pakistan

Money laundering case against Altaf Huusain adjourned till April 13

The proceedings should be stayed as long as the apex court announced its decision, he added.

Published 18 Mar, 2021 09:01pm

Pakistan

Rain thunderstorm predicts from Sunday to Tuesday in KP

The availability of small and heavy machinery is assured where there is a risk of landslides would be made, the DG PDMA instructed.

Published 18 Mar, 2021 09:00pm

Pakistan

SHC order builder to bear cost for repairing 2 bungalows,developed fissures due to construction work

The matter was adjourned to April 13.

Published 18 Mar, 2021 08:45pm

Europe

Coronavirus toll at 1100 GMT Thursday

At least 121,209,630 cases of coronavirus have been registered.

Published 18 Mar, 2021 08:44pm

Europe

Mario Draghi honours Covid victims at 'Italy's Wuhan'

Italy's government has set a target to triple vaccinations to 500,000 per day by mid-April, and to fully vaccinate 80 per cent of the population by mid-September.

Published 18 Mar, 2021 08:42pm

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

World

WHO reiterates call to continue use of AstraZeneca jab

EMA is also expected to announce its decision on the continued use of the vaccine on Thursday.

Published 18 Mar, 2021 08:41pm

Europe

Putin replies to Biden 'killer' comment: 'Takes one to know one'

Russia, he added, knows how to "defend its interests" and will work with Washington on terms that are "beneficial" for Moscow.

Published 18 Mar, 2021 08:38pm

Money & Banking

Bank of England sees recovery signs but stresses outlook still unclear

BoE sees positive short-term news on recovery.
Implications for medium-term outlook less.
Differences of opinion among rate-setters.
COVID relaxations happening faster than thought.
No change to 0.1% Bank Rate.
Bond-buying plan remains unchanged too.

Published 18 Mar, 2021 08:38pm

Africa

30 dead in clashes between troops and militia in east DR Congo

More than 120 armed groups are active in eastern Democratic Republic of Congo, many of them the legacy of regional wars in the 1990s.

Published 18 Mar, 2021 08:35pm

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

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

Europe

EU plans to launch dispute settlement with AstraZeneca

Mamer said the letter "will allow us to start a dialogue with the company as part of a dispute settlement process."

Published 18 Mar, 2021 08:33pm

Money & Banking

Bank of England keeps interest rate at record-low 0.1pc

The BoE cautioned however it would approach this level in the spring due to recent domestic energy price hikes.

Published 18 Mar, 2021 08:32pm

Stocks

Major Gulf markets end mixed, Eastern Co drags Egypt

Saudi Arabia logs first weekly loss in six weeks.
Eastern Co. sees biggest intraday fall in over 4 months.

Published 18 Mar, 2021 08:33pm

Europe

Ukraine capital imposes new curbs as virus surges

Ukraine reported its highest daily infection rate in months on Thursday, with more than 15,000 cases.

Published 18 Mar, 2021 08:29pm

World

Bulgaria re-imposes virus curbs as mortality rate rises

Any festivals or other large gatherings of people, even outside, will be banned while sports events will be held without spectators.

Published 18 Mar, 2021 08:28pm

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

Money & Banking

ECB can accept limited deposit insurance scheme as first step

"In my view, this hybrid model could be a possible compromise way forward, as long as an EDIS with full risk-sharing, covering both liquidity needs and losses in the steady state, remains the end goal," de Guindos said in a speech.

Published 18 Mar, 2021 08:27pm

Middle East

Suspected jihadists kill 12 in Yemen attack: official

The checkpoint in the coastal district of Ahwar was manned by members of the Security Belt, a powerful southern Yemen separatist force.

Published 18 Mar, 2021 08:26pm

World

Armenia PM announces snap polls to defuse crisis

The spat sparked massive demonstrations, with Pashinyan's supporters and his opponents flooding the streets of the capital.

Published 18 Mar, 2021 08:18pm

World

UN says refugees face long 'struggle' for Covid vaccines

There are around 80 million forcibly displaced people worldwide, according to UNHCR's latest statistics.

Published 18 Mar, 2021 08:17pm

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

USA

US employment crisis hits one-year mark as claims stay elevated

Claims filed under a special program for freelance workers not normally eligible decreased to 282,394, not seasonally adjusted, a drop of nearly 200,000 mostly attributable to a decline in filings in Ohio.

Published 18 Mar, 2021 08:15pm

World

Russia hosts Afghan talks as US deadline for exit looms

"In a degrading military-political situation, further delays are unacceptable," Lavrov said Thursday.

Published 18 Mar, 2021 08:13pm

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

Business & Finance

Google to invest over $7bn in US, create 10,000 jobs

Google's parent company Alphabet saw profits rise 17 percent to $40 billion in 2020 as revenues increased to $182 billion.

Published 18 Mar, 2021 08:11pm

Stocks

Bond fears overtake Fed hopes, US stocks fall at open

The broad-based S&P 500 slipped from its record the day before, falling 0.6 percent to 3,948.72, while the tech-rich Nasdaq Composite Index fell 0.2 percent to 15,699.32.

Published 18 Mar, 2021 08:10pm

Commodities

India, Vietnam rates gain on robust demand; Bangladesh eyes stocks

Bangladesh looks to purchase 50,000 tonnes of rice.
Thailand prices dip on quiet market, weaker baht.
Congestion at Indian ports has eased – exporter.

Published 18 Mar, 2021 08:07pm

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

Europe

Germany condemns Turkey's crackdown on pro-Kurdish party

"A party ban can only be the very last resort in a democracy. The case of HDP raises considerable doubt on proportionality," said a foreign ministry spokesman.

Published 18 Mar, 2021 08:07pm

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

World

EU condemns move to ban Turkey pro-Kurdish party

The statement insisted that Ankara "urgently needs to respect its core democratic obligations, including respect for democracy, human rights and the rule of law."

Published 18 Mar, 2021 08:06pm

South Asia

Military helicopter was shot down, says Afghan president

He did not say who was responsible, but warned "the perpetrators of the incident will be seriously punished".

Published 18 Mar, 2021 08:03pm

Technology

Accenture's business grows at pre-pandemic levels, raises revenue forecast

The company's shares rose 4.1% to $275.05 in premarket trading.
"We have returned to overall pre-pandemic growth ahead of expectations while continuing to take market share faster than before the pandemic," Accenture Chief Executive Officer Julie Sweet said.

Published 18 Mar, 2021 08:03pm

Europe

Turkey rebuffs criticism of crackdown on pro-Kurdish party

The Turkish foreign ministry responded by saying that comments from "some countries" it did not name "were incompatible with the principle of the rule of law".

Published 18 Mar, 2021 08:01pm

Financial

Swedish central banker: repo rate cut most effective tool to lower market interest rates

"The only method left is the benchmark rate," Floden told reporters. "But if, on the other hand, duration premia rise in a problematic way, or risk premia or different spreads start taking off, then asset purchases again can have a role to play."

Published 18 Mar, 2021 08:01pm

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

Pakistan

Sindh govt intends to make its teachers training institutes as the best institutes: CM Sindh

Shah said that despite shortage of resources his government has undertaken some important development activities in the city.

Published 18 Mar, 2021 08:00pm

Pakistan

ECP issues list of candidates for Bye-polls in NA 249

Polling will be held on April 29 to elect the public representative of the constituency which fall vacant due to the resignation of Muhammad Faisal Vawda.

Published 18 Mar, 2021 07:59pm

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

Pakistan

AJK President urges world community to take notice of unlawful demographic change in IIOJK

Sardar Masood maintained that the domiciles were issued to 3,108,682 applicants while 215,438 applications were rejected, AJK President office said.

Published 18 Mar, 2021 07:57pm

Pakistan

Ehsaas completes IT integration with Utility Stores Corporation

Using the Ehsaas data, this new system will improve the efficiency of subsidy delivery mechanism for better results.

Published 18 Mar, 2021 07:55pm

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

Pakistan

PSX loses 726 points to close at 44,724 points

As many as 407 companies’ transacted shares in the stock market, 76 of them recorded gain and 307 sustained losses.

Published 18 Mar, 2021 07:56pm

Pakistan

Illegal plots allotment reflective of 'Changa Manga' style of politics: Shahzad Akbar

He said that recoveries would be made from looters as Prime Minister Imran Khan had promised to make recoveries from plunderers.

Published 18 Mar, 2021 07:53pm

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

Pakistan

PM directs to quickly ascertain status of missing members of 13 Baloch families

He asked to keep him informed of progress on the whereabouts of the missing Baloch family members.

Published 18 Mar, 2021 07:52pm

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

Pakistan

Pakistan to stand by Kashmiri Brethren till independence: Speaker

The whole world should condemn India's inhumane atrocities in the occupied Kashmir, he added.

Published 18 Mar, 2021 07:50pm

Pakistan

SC reserves verdict on Justice Isa's plea for live broadcast of review petition's proceedings

During the course of proceedings, petitioner Justice Isa said it was being propagandized that the junior judges had never given ruling against the senior colleagues.

Published 18 Mar, 2021 07:49pm

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

Pakistan

Hafeez stresses for speedy privatization process

He also urged to observe the time lines and carry forward the whole process expeditiously.

Published 18 Mar, 2021 07:48pm

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

Pakistan

PDM plans for long march have met their logical end: CM

Buzdar said the political death of the PDM was a clear message to the opportunists as their mean politics had been fully exposed.

Published 18 Mar, 2021 07:47pm

Pakistan

Strict implementation of Covid-19 SOPs vital: CM

A total of 5894 corona related deaths have occurred in Punjab, whereas 3583075 tests have been conducted so far.

Published 18 Mar, 2021 07:46pm

Pakistan

NAB taking efforts for corruption-free Pakistan: DG NAB Hasnain Ahmed

He said that 18 billions have been recovered only from food department of Government of Sindh.

Published 18 Mar, 2021 07:44pm

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

Pakistan

LG Minister expresses displeasure over poor sanitation situation in Hyderabad

The Commissioner stressed upon HDA other agencies to improve progress and complete drainage and sewerage schemes before coming monsoons.

Published 18 Mar, 2021 07:42pm

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

Pakistan

NA Speaker holds meeting with Chairman Senate

The chairman said it would help prepared solid recommendation for electoral reforms.

Published 18 Mar, 2021 07:41pm

Pakistan

FM invites Kuwaiti to benefit from investment opportunities in Pakistan, economic potential of CPEC

Qureshi briefed his counterpart on the economic potential of the CPEC, in particular its Special Economic Zones.

Published 18 Mar, 2021 07:40pm

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

Pakistan

ICCI urges consultation with all stakeholders on SBP amendment Bill 2021

He said one disturbing proposal in the bill was about the immunity of SBP from NAB and the FIA.

Published 18 Mar, 2021 07:31pm

USA

IMF sees Canada's economy rebounding, says government needs fiscal anchor

"The size and scope of policy support (in Canada) has been unprecedented" during the pandemic, the International Monetary Fund's executive board said in its annual report.
The IMF forecast economic growth of 4.4% this year after a 5.4% decline in 2020.

Published 18 Mar, 2021 07:35pm

Energy

Oil falls 2pc as inventories rise and vaccine rollout stalls

Brent crude fell $1.47, or 2.16%, to $66.53 a barrel.
US oil was down $1.50, or 2.32%, at $63.10 after shedding 0.3% in the previous session.

Published 18 Mar, 2021 07:33pm

Europe

Britain says delay in Serum Institute vaccines contributing to supply squeeze

Delivery of AstraZeneca shots from India contributed to delay.
Britain has warned of significantly reduced supplies in April.
Serum Institute says will try to supply more vaccine later.

Published 18 Mar, 2021 07:32pm

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

Pakistan

KP Govt decides to close down markets on Saturday, Sunday due to spike in Covid cases

The restrictions have been imposed in Peshawar, Charsadda, Nowshera, Mardan, Kohat, Swabi, Swat and Malakand districts.

Published 18 Mar, 2021 07:30pm

Commodities

Raw sugar steadies, held back by stronger dollar, weak technicals

May raw sugar slipped 0.1% to 15.98 cents per lb.
May arabica coffee was flat at $1.3355 per lb, after rising to its highest since March 1 on Wednesday.

Published 18 Mar, 2021 07:26pm

Pakistan

61 more deaths due to Covid-19 reported over last 24 hours

577,501 patients have so far recovered from the disease.

Published 18 Mar, 2021 07:28pm

Pakistan

Pakistan desirous to increase volume of bilateral trade with Kuwait: FM

The Foreign Minister said Pakistan is facilitating the foreign investment in different sectors of economy.

Published 18 Mar, 2021 07:26pm

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

Pakistan

NCOC concerned over gross violations of SOPs against COVID-19

The Forum urged the masses to once again display good example of social behaviour and follow the SOPs in letter and spirit.

Published 18 Mar, 2021 07:26pm

Pakistan

PM announces to launch a plan next month regarding food security

The Prime Minister said a struggle has been waged against the land grabbers.

Published 18 Mar, 2021 07:24pm

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

Pakistan

Call to reschedule anti-polio drive

He said that if the government showed stubbornness, indefinite sit-in would be staged.

Updated 18 Mar, 2021 07:25pm

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

Europe

UK reports five cases of rare blood clots in AstraZeneca rollout, continues use of shot

Concerns about reports of blood clots, along with low platelet levels, have led to European countries including Germany to pause the rollout of the shot while the cases are investigated. *"The available evidence does not suggest that blood clots in veins (venous thromboembolism) are caused by COVID-19 Vaccine AstraZeneca," the MHRA said.

Published 18 Mar, 2021 07:18pm

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

Commodities

Tunisia receives offers in 117,000 tonne soft wheat tender

No purchase has yet been reported and offers are still being considered, they said.
Lowest offer for at least 42,000 tonnes of durum wheat that was also sought was estimated at $374.68 a tonne c&f.

Published 18 Mar, 2021 06:55pm

Europe

UK says vaccine roll-out to be slower than hoped, but should pick up again in May

UK says global lumpy supply chain causing issues.
UK vaccine roll-out will be slower than hoped.
UK says vaccine deliveries to rise from May.
UK scolds EU over vaccine ban threat.

Published 18 Mar, 2021 06:52pm

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

Pakistan

COVID's new wave more deadly warns Asad Umar

If SOPs' compliance does not improve, we will be forced to place stronger restrictions on activities, please be very very careful, he warned.

Published 18 Mar, 2021 06:49pm

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

Pakistan

SNGPL, SSGC cap on 2,476 MMCF gas losses in first quarter of 2020-21

He said the company had been advised to expedite its efforts to ensure meeting the yearly targets.

Published 18 Mar, 2021 06:41pm

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

Pakistan

Output of LCVs increase 20pc in 7 months

The production of cars and jeeps also increased by 8.61 percent as it surge from 81,256 units last year to 74,817 units during 2020-21.

Published 18 Mar, 2021 06:39pm

Pakistan

Cutlery exports increase 29.54pc to $80.946 million

The cutlery exports in February 2021 were recorded at $10.639 million against the exports of $7.833 million in February 2020, the PBS data revealed.

Published 18 Mar, 2021 06:38pm

Pakistan

Ambassador Haque thanks China for gift of 3rd batch of COVID-19 vaccine

The COVID-19 vaccine donated by the Chinese government had been handedover to the Pakistani authorities.

Published 18 Mar, 2021 06:36pm

Pakistan

1824 new cases of coronavirus reported in Punjab on Thursday

The Punjab health department conducted 3,583,057 tests for COVID-19 so far, while 174,269 confirmed patients recovered altogether in the province.

Published 18 Mar, 2021 06:35pm

Pakistan

Food commodities worth $2.854 billion exported in 08 months

Food group exports from country witnessed a decline of 5.85 percent as compared the exports of the corresponding period of last year.

Published 18 Mar, 2021 06:27pm

Pakistan

Around 40,000 doses of Covid-19 vaccine administered daily: Faisal Sultan

He said federal government has been distributing COVID-19 vaccination doses to all provinces including GB and Kashmir on equal basis.

Published 18 Mar, 2021 06:26pm

Pakistan

PM Imran Khan makes reality of providing shelter to homeless: Ali Zaidi

Zaidi said ‘Roti, Kapra, Makan’ was Bhutto's slogan, but Imran Khan has started making this a reality.

Published 18 Mar, 2021 06:26pm

Pakistan

Knitwear exports record 18.04pc increase

Knitwear worth US $2,467,006 thousand were exported as compared to worth US $ 2,090,039 thousand of same period of last year.

Published 18 Mar, 2021 06:23pm

Pakistan

Iran's envoy calls for expanding investment, trade ties with Pakistan

Qurban urged for removing tariff bearers, besides addressing the issues on priority basis and enhanced trade through air, rail, road and sea routes.

Published 18 Mar, 2021 06:16pm

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

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

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

Pakistan

Rupee gains 29 paisas against dollar

Buying and selling rates of dollar were recorded at Rs155.1 and Rs155.8 respectively.

Published 18 Mar, 2021 06:17pm

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

Pakistan

CM’s Aide hints at complete lockdown if number of cases increased

He said the third wave of COVID-19 was much dangerous and if the ratio of cases increased then some difficult decisions could be taken as per the situation.

Published 18 Mar, 2021 06:15pm

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

Pakistan

Coronavirus vaccination to senior citizens continues in KP

He said 28,405 health care workers have taken the first dose of vaccine.

Published 18 Mar, 2021 06:12pm

Technology

Google to invest over $7bn in US offices, data centers this year

The company's investment related to US offices and data centers was over $10 billion last year and more than $13 billion in 2019.
The latest investment includes expansion plans for data centers in Nebraska, South Carolina and Texas, the company said on Thursday.

Published 18 Mar, 2021 06:10pm

Pakistan

Hammad says all industries strictly follow SOP's

Third wave of coronavirus kicks off and adopting SOPs can save both lives and jobs, he said.

Published 18 Mar, 2021 06:11pm

Pakistan

Corona vaccination administered to 35,780 senior citizens in eight days

He said that all departments were providing the best facilities to senior citizens.

Published 18 Mar, 2021 06:09pm

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

Pakistan

New master plan of major cities to check haphazard expansion : PM

He said early next month, his government was bringing forth a new plan for food security and to address this crucial issue.

Published 18 Mar, 2021 06:08pm

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

Pakistan

App link developed to help report Plastic bags ban violations: Zartaj Gul

She urged the masses to report maximum violations of plastic bags ban on the Islamabad City App as half a million people were using the app.

Published 18 Mar, 2021 06:06pm

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

Pakistan

PM gets COVID-19 jab

The vaccination drive is being carried out across the country.

Published 18 Mar, 2021 06:05pm

Pakistan

Seeds sector development vital to achieve higher output, alleviate poverty: Imam

Pakistan has 30 different fruits and 30 vegetables, he said adding that country was also producing five different pulses to tackle with the local needs.

Published 18 Mar, 2021 06:03pm

Companies

Dollar General warns of dropping sales as pandemic boom peters out

The company's shares, which have gained nearly 22% over the last year, fell 4.5% before the bell.
The company forecast annual earnings per share of $8.80 to $9.50, below estimates of $10.08.

Published 18 Mar, 2021 05:59pm

Pakistan

NHA attracts Rs144bn private sector investment for road infrastructure projects

The ECNEC has given go-ahead to the construction of 306km-long Motorway at a cost of Rs165.679 billion.

Published 18 Mar, 2021 06:01pm

Pakistan

GB Supreme Appellate Court registrar issued show cause notice over non submission of reply

The court issued show cause notice to the registrar and adjourned hearing of the case for four weeks.

Published 18 Mar, 2021 06:00pm

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

Pakistan

PTI government introduces road projects, 300 times more than past regimes: Murad Saeed

Murad Saeed said the distribution of SIC to 100 percent population of KP has been completed.

Published 18 Mar, 2021 05:58pm

Pakistan

Five coronavirus patients die in Faisalabad

He said 1,054 tests for coronavirus were conducted in public and private sectors labs.

Published 18 Mar, 2021 05:57pm

Industry

Brazil airline Gol says Q1 will be worse than expected due to pandemic second wave

Gol, Brazil's largest airline, reported a modest profit of 16.8 million reais ($3.01 million) in the fourth quarter, which is part of Brazil's high season.
Gol said its March numbers were the most affected by the new wave and that it had had to reduce its flight schedule to 40% of pre-pandemic levels.

Published 18 Mar, 2021 05:53pm

Pakistan

Govt committed to take all measures for economic growth, investment promotion: PM

The government in that respect was committed to prove all possible facilitation to the business community and investors, he added.

Published 18 Mar, 2021 05:55pm

Pakistan

5.64mn cotton bales reach ginneries across Pakistan, comparative shortfall 34pc

Cotton arrivals in Punjab were recorded at over 3.5 million or 3,507,356 bales while Sindh generated just over 2.1 million or 2,136,169 bales.

Published 18 Mar, 2021 05:54pm

Africa

In Tanzania, eyes turn to succession after president's death

Magufuli died on Weds of heart disease – Hassan.
Ruling party calls for calm.
Leader's scepticism about COVID drew global attention.
Magufuli had been out of public eye for more than two weeks.

Published 18 Mar, 2021 05:51pm

Pakistan

1,500 entrepreneurs of Faisalabad start businesses under Kamyab Jawan program: Usman Dar

He said that JPC would also be established across the country to extend this free facility at their doorsteps.

Published 18 Mar, 2021 05:53pm

Pakistan

COVID-19 claims 4 more patients, infects 296 others

The chief minister urged people to follow Standard Operating Procedures to curtail spread of the pandemic.

Published 18 Mar, 2021 05:52pm

Pakistan

Heavy rainfall with gusty winds forecast for KP

Heavy rainfall may trigger landslides in the vulnerable areas of Khyber Pakhtunkhwa during Monday and Tuesday.

Published 18 Mar, 2021 05:47pm

Companies

Russia's Headhunter expects 2021 revenue growth of 37-42pc as business recovers

It reported a 30.9% rise to 650 million roubles ($8.82 million) in fourth-quarter net profit and said the business was back on track for growth across all major products and segments.
Labour Minister Anton Kotyakov said in January the goal is to restore employment to pre-pandemic levels by the end of 2021.

Published 18 Mar, 2021 05:48pm

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

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

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

Pakistan

Govenor urges SOPs observance

He urged media persons to play their due role for creating awareness regarding observance of SOPs against COVID-19.

Published 18 Mar, 2021 05:43pm

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

Pakistan

SBP says e-banking transactions worth Rs21.4trn conducted in Q2FY21

Total number of payment cards issued in the country stood at 44 million out of which 27.6 million are debit cards and 1.7 million are credit cards.

Published 18 Mar, 2021 05:41pm

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

Pakistan

Dry weather is expected in most plain areas of country

Light rain (snowfall over high mountains) is expected at isolated places in Gilgit Baltistan.

Published 18 Mar, 2021 05:40pm

Pakistan

61 more Covid-19 patients lose life in country

577,501 patients have recovered from the disease so far.

Published 18 Mar, 2021 05:39pm

Pakistan

Asad Umar urges people to be careful of new Covid strain

He said if SOP compliance does not improve, we will be forced to place stronger restrictions on activities.

Published 18 Mar, 2021 05:38pm

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

Pakistan

NA Speaker urges world to take notice of atrocities in IIOJK

Barrister Sultan said India cannot suppress the firm resolve of the Kashmiri people for the freedom by resorting to coward tactics.

Published 18 Mar, 2021 05:37pm

Money & Banking

Bank of England keeps rates and size of bond-buying plan on hold

The BoE said it kept its benchmark interest rate at an all-time low of 0.1%, in line with forecasts in a Reuters poll of economists.

Published 18 Mar, 2021 05:34pm

Pakistan

Pakistan ready to resolve disputes with neighbors through dialogue: COAS

The Army Chief said despite being an impoverished region, we end up spending a lot of money on defense which naturally comes at the expense of human development.

Published 18 Mar, 2021 05:37pm

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

Europe

EU halts sanctions on Turkey oil executives as ties improve

TPAO executives to escape EU punishment over drilling.
EU March 25-26 summit no longer to be showdown over Turkey.
Turkey's Erdogan has changed tone since January.

Published 18 Mar, 2021 05:29pm

Forex

Zloty falls on uncertainty around FX mortgages; Czech stocks hit 13-month high

"There are some worries that this decision will not be in favour of banks and so maybe they will have to change their reserves into Swiss francs," a trader in Warsaw said.
The Polish zloty slid 0.37%, underperforming its peers and trading at 4.624 versus the common currency.

Published 18 Mar, 2021 05:25pm

Stocks

EV frenzy over Volkswagen shares draws regulator's attention

Volkswagen shares up 23% this week.
BaFain says monitoring stock in routine way.
Institutional and retail investors warm to EV ambitions.

Published 18 Mar, 2021 05:23pm

Commodities

Copper falls as rising inventories spur demand concerns

Three-month copper on the London Metal Exchange fell 0.5% to $9,019.50 a tonne.
A weak physical market in China and concerns about rising US Treasury yields offset a soft US dollar.

Published 18 Mar, 2021 05:20pm

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

Commodities

Gold slips from more than two-week peak as US yields surge

US Treasury yields scale 14-month peak.
Palladium at more than one-year high.

Published 18 Mar, 2021 05:16pm

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

Commodities

Supply squeeze drags copper treatment charges below $20 a tonne

Antofagasta tender goes for TC in high $10s/T – sources.
Spot TCs in China lowest since 2010 at $33.50/T - Asian Metal.
Smelter margins razor thin ahead of China meeting.

Published 18 Mar, 2021 05:11pm

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

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

Stocks

Sri Lankan shares end lower as industrials, consumer stocks drag

The CSE All-Share Index closed 1.62% lower at 6,930.76.
Among individual stock moves, LOLC and conglomerate Expolanka Holdings were the top two drags on the CSE All-Share index, falling 3.7% and 4.9%, respectively.

Updated 18 Mar, 2021 05:08pm

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

Markets

Bears return at PSX, benchmark index drops over 700 points ahead of MPS

KSE-100 index recorded an intraday high of 45,612.95, however, the index failed to sustain the gains and slid to day’s low of 44,641.49.

Published 18 Mar, 2021 04:51pm

South Asia

Helicopter crash kills nine in central Afghanistan

The crash happened on Wednesday night in a volatile district in Wardak province, where Afghan forces and local militias have bitterly fought.

Published 18 Mar, 2021 04:44pm

Life & Style

Amazon to make first Bollywood film

Akshay Kumar will be the lead in the action-adventure flick ‘Ram Setu’, the American tech giant said.

Published 18 Mar, 2021 04:38pm

South Asia

Myanmar's ousted leader Suu Kyi faces new corruption charges from junta

On Wednesday night, military broadcaster Myawady aired a video of a Myanmar businessman confessing to giving her a total of $550,000 over several years.

Published 18 Mar, 2021 04:36pm

Middle East

No ceasefire in Yemen unless blockade lifted, rebels say

The Iran-backed Huthis and the government have been locked in a power struggle since 2014, when the rebels seized control of the capital Sanaa.

Published 18 Mar, 2021 04:34pm

South Asia

French senator plans to visit Taiwan despite China protests

China has reacted with fury to plans for a visit by Alain Richard, a former defence minister and member of France's ruling party.

Published 18 Mar, 2021 04:28pm

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

South Asia

Beijing warns US of 'no compromise' on sovereignty, security at Alaska talks

"The US should meet China halfway and conduct the dialogue in a sincere and constructive manner," Zhao said.

Published 18 Mar, 2021 04:26pm

World

Armenia PM defies ruling to reinstate military chief

Pashinyan last week appealed to President Armen Sarkisian to appoint Artak Davtyan as new chief of general staff.

Published 18 Mar, 2021 04:24pm

World

G7 'will not recognise' Russia's Crimea takeover

Moscow denies the claims and blames a recent uptick in fighting on Ukrainian forces.

Published 18 Mar, 2021 04:23pm

World

Kremlin says 'clear' that Biden does not want better ties with Russia

These statements from the president of the United States are very bad, Kremlin spokesman said.

Published 18 Mar, 2021 04:21pm

World

Belarus opposition leader holds online vote on regime talks

Western governments accuse Lukashenko of rigging the election and have adopted sanctions against top government officials.

Published 18 Mar, 2021 04:18pm

South Asia

Indian passenger train 'rolls backwards for 35 km'

Reports said the out-of-control train reversed almost 35 kilometres, but the railways ministry did not immediately confirm the distance.

Published 18 Mar, 2021 04:16pm

Middle East

Tehran must release Iranian-Swede 'near death' in solitary: UN experts

Djalali has claimed he is being punished for refusing to spy for Iran while working in Europe.

Published 18 Mar, 2021 04:14pm

South Asia

North Korea says will ignore US while 'hostile policy' in place

Beijing warned Thursday it would make no concessions to the US on key issues including human rights in Xinjiang and Hong Kong.

Published 18 Mar, 2021 04:12pm

Europe

Dutch PM Rutte eyes new coalition after election win

The VVD is projected to win 35 seats in the 150 seat parliament, while the other big winner of the night was the centrist pro-EU D66 party, with 24.

Published 18 Mar, 2021 04:11pm

Business & Finance

Post-Brexit UK-EU trade plummets in January

British exports to the continent meanwhile shrank by 59.5 percent, to just 6.4 billion euros.

Published 18 Mar, 2021 04:09pm

Europe

UK denies vaccine shortfall will slow lockdown easing plan

AstraZeneca's vaccine, developed with Oxford University, provides the bulk of Britain's campaign.

Published 18 Mar, 2021 04:08pm

Europe

WHO 'worried' about virus spread in Balkans, Central Europe

"We are particularly worried about the epidemiological situation in the Balkans, as well as many other countries around Central Europe," Catherine Smallwood, Senior Emergency Officer said.

Published 18 Mar, 2021 04:08pm

Financial

Bank of England charts path between Covid and inflation

The UK economy slumped 2.9 percent in January from December, after the imposition of England's third lockdown.

Updated 18 Mar, 2021 04:07pm

World

EU health agency to rule on troubled AstraZeneca jab

Antarctica was one of the last places on Earth to be affected by the virus, but on December 21, an outbreak was reported at a Chilean army base, with 36 people infected.

Updated 18 Mar, 2021 04:07pm

World

At least 10 killed in bandit attack on Nigerian village

The state has been the hardest hit by bandits despite a government offer of amnesty in exchange for renouncing violence and surrendering their weapons.

Updated 18 Mar, 2021 04:07pm

Technology

China summons tech giants over internet security

The aim is to ensure they comply with regulations and take "effective rectification measures" for potential hazards discovered.

Updated 18 Mar, 2021 04:07pm

World

Myanmar's ousted leader Suu Kyi faces new corruption charges from junta

"Aung San Suu Kyi may have her defects... but bribery and corruption are not her traits," he said, adding that most people in Myanmar will not believe the allegations.

Updated 18 Mar, 2021 04:07pm

World

UN rights chief agrees to joint Tigray probe

US Secretary of State Antony Blinken last week described the violence as an "ethnic cleansing" and called for an investigation.

Updated 18 Mar, 2021 04:07pm

World

Jordan counts on Biden as it asserts itself against Israel

"Jordan chose the right moment to scupper what was supposed to be a show of victory and a campaign event for Netanyahu," said Oraib al-Rantawi, director of Al Quds Center For Political Studies.

Updated 18 Mar, 2021 04:07pm

World

Infected by Covid, Colombian doctor stared death in the face

Colombia is one of the top 11 countries in the world in terms of infections.

Updated 18 Mar, 2021 04:06pm

World

6.0-magnitude earthquake strikes off Algerian coast: USGS

The USGS said the quake hit 20 kilometres north-east of the city of Bejaia at 1:04 am local time (0004 GMT), at a depth of 10 kilometres.

Updated 18 Mar, 2021 04:06pm

World

US says move to ban pro-Kurdish party would 'undermine democracy' in Turkey

We are... monitoring the initiation of efforts to dissolve the People's Democratic Party, a decision that would unduly subvert the will of Turkish voters.

Updated 18 Mar, 2021 04:06pm

World

Biden warns US may miss deadline to exit Afghanistan

8 Biden also took a direct swipe at Trump's Afghanistan policy, saying it "was not a very solidly negotiated deal" that the then-president oversaw.

Updated 18 Mar, 2021 04:06pm

World

UN chief appoints personal envoy to Afghanistan

Washington wants to jumpstart the process and get the Taliban and Afghan government to agree to some form of power-sharing.

Updated 18 Mar, 2021 04:06pm

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

World

Covid reinfection rare, more common over 65: study

The rate of infection was five times higher for people who tested negative during the Spring surge of the virus and then positive during the second wave.

Updated 18 Mar, 2021 04:05pm

World

US House reauthorizes Violence Against Women Act

Twenty-nine Republicans joined all Democrats present in supporting the measure.

Updated 18 Mar, 2021 04:05pm

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

World

North Korea says will ignore US while 'hostile policy' in place: Yonhap

But ultimately no progress was made towards Washington's declared aim of denuclearising North Korea, with a second summit in Hanoi in early 2019 breaking up without an agreement and Pyongyang still under multiple international sanctions for its banned weapons programmes.

Updated 18 Mar, 2021 04:05pm

World

France virus cases surge as new restrictions loom

"We will take the decisions that need to be taken," he said.

Updated 18 Mar, 2021 04:05pm

Sports

NBA's LeBron saddened, Lin heartbroken over shootings

Lin, the first American of Chinese or Taiwanese descent to play in the NBA, was upset about the shooting, tweeting his pain and hope.

Updated 18 Mar, 2021 04:05pm

World

Suspect charged with eight murders in Atlanta shootings

"It shocks the conscience," he said of the attacks, which drew reactions of outrage and solidarity from across the nation.

Updated 18 Mar, 2021 04:05pm

Pakistan

Pakistan condemns terrorist attack in Niger village which killed 58 people

Armed men in southwestern Niger killed at least 58 people when they intercepted a convoy returning from a weekly market.
The government and people of Pakistan extend their deepest sympathies and condolences to the bereaved families and pray for the speedy recovery of those injured, FO said.

Published 18 Mar, 2021 03:33pm

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

Opinion

Letting the fox guard the chicken coop

The proposed legislation on the functioning of the State Bank of Pakistan being reported in the public press is...

Updated 18 Mar, 2021 03:25pm

Pakistan

Pakistan has 'resisted the temptation' of involving itself in arms race despite rising security challenges, says COAS

"Frayed relations between various powers centres of the globe and boomeranging of competing alliances can bring nothing but another stint of Cold War, the COAS said.
He said unsettled issues in South Asia are dragging the entire region back into poverty and underdevelopment.

Updated 18 Mar, 2021 02:50pm

Automobile

Kia releases clear images of its first electric car ‘EV6’

Finally the wait is over, as Kia released first photos of its highly-anticipated electric car EV6. As per the...

Published 18 Mar, 2021 02:49pm

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

Technology

Facebook announces changes to keep misinformation & harmful content at bay

The new policies are part of a continued effort to clean up misinformation and harmful content, like hate speech and misinformation, and make it harder for certain groups to operate or be discovered, whether they’re Public or Private.

Published 18 Mar, 2021 01:46pm

Pakistan

Sanjrani denies Bilawal’s claim of joining PPP

KARACHI: Senate chairman Sadiq Sanjrani on Wednesday denied the claim of Pakistan Peoples Party (PPP) chief Bilawal...

Updated 18 Mar, 2021 01:29pm

Stocks

Tech, healthcare drag Australian shares lower as US yields tick up

Healthcare stocks fell more than 1.5%, their biggest in nearly two weeks, after a seven-session winning streak. CSL slid nearly 2%, while Cochlear fell over 2.6%.

Published 18 Mar, 2021 01:16pm

Business & Finance

PM Khan assures to allocate more funds for housing program

The Prime Minister assured to allocate more funds for the housing program with the increase in the revenue of the government so that the working and the salaried class could build their houses.

Published 18 Mar, 2021 01:08pm

Stocks

Stocks cheer dovish Fed, yen supported before BOJ decision

Oil futures extended declines, weighed down by rising US crude inventories and by expectations of weaker demand in Europe, where the coronavirus vaccine roll out is faltering.

Published 18 Mar, 2021 01:06pm

Forex

Turkish lira slightly weaker ahead of key rate decision

Lira's depreciation can lead to higher import costs, risking further raising inflation, which the central bank expects to drop to 9.4% by year-end.

Published 18 Mar, 2021 01:03pm

Forex

South African rand steady as Fed tames inflation fears

That drove a new bout of risk-taking in emerging markets such as South Africa.

Published 18 Mar, 2021 01:01pm

Commodities

Ukraine wheat export prices lose $10 a tonne so far this week

Ukraine sold about 57 million tonnes of grain to foreign buyers in the 2019/20 season, while the government has said exports could decline to 45.4 million tonnes in 2020/21 because of a weaker harvest.

Published 18 Mar, 2021 01:00pm

World

Ukraine's COVID-19 cases exceed 1.5 million

Ukraine has faced a sharp jump in coronavirus cases in recent weeks, which Prime Minister Denys Shmygal called a "third wave" of the pandemic.

Published 18 Mar, 2021 12:57pm

Commodities

Asia Coffee-Vietnam market tepid on weak demand, Indonesia premiums narrow

"They (farmers) will start selling a lot of the beans in April or during the Ramadan month because there will be a lot of spendings for that month," one of the traders said, adding the main harvest would start in May.

Published 18 Mar, 2021 12:55pm

World

Thai business group says Sinovac shots ordered for private vaccination scheme

The country has so far received 200,000 doses of the Sinovac Biotech CoronaVac vaccine and 117,300 doses from AstraZeneca.

Published 18 Mar, 2021 12:52pm

Stocks

South Korean shares end higher on Fed view boost

In offshore trading, the won was quoted at 1,123.4, while in non-deliverable forward trading its one-month contract was quoted at 1,123.3.

Published 18 Mar, 2021 12:50pm

Sports

'Slapstick' errors have cost Liverpool, says Klopp

"It would mean a huge financial loss. In almost all clubs, I would be questioned in a situation like this," he said. "This is normal, I accept that.

Published 18 Mar, 2021 12:48pm

Currency	Rate
USD PKR Interbank Selling / Jun 24	278.40
USD PKR Interbank Buying / Jun 24	278.20
USD to Japanese Yen / Jun 26	161.74
USD to Swiss Franc / Jun 26	0.81
Pound Sterling to USD / Jun 26	1.32
Euro to USD / Jun 26	1.14
SOFR % / Jun 26	3.61

Stock	Volume
India Sensex / Jun 25	77,100.47
S&P 500 / Jun 26	7,354.02
Tokyo Nikkei / Jun 26	69,360.88
Nasdaq / Jun 26	25,297.62
Hang Seng / Jun 26	22,671.86
FTSE 100 / Jun 26	10,508.02
Dow Jones / Jun 26	51,876.11
Germany DAX 30 / Jun 26	24,671.22
France CAC40 / Jun 26	8,384.87

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 24	18,280
Gold 10 Grams PKR / Jun 24	368,985
Crude Oil USD/Barrel / Jun 26	69.23
Gold Spot USD/Ounce / Jun 26	4,088.74
Cotton US¢/pound / Jun 26	76.38
Petrol/Litre / Jun 28	299.50
Diesel/Litre / Jun 28	311.47

Stock	Price
Ghani Chemworld Limited (R) / Jun 24 Ghani Chemworld Limited Right(GCWLR)	8.01 ▲ 1 (14.27%)
Gulistan Sp. / Jun 24 Gulistan Spinning Mills Limited(GUSM)	10.01 ▲ 0.94 (10.36%)
Ali Asghar / Jun 24 Ali Asghar Textile Mills Limited(AATM)	57.61 ▲ 5.24 (10.01%)
Al-Shaheer Corp / Jun 24 Al Shaheer Corporation Limited(ASC)	12.20 ▲ 1.11 (10.01%)
Feroze 1888 / Jun 24 Feroze1888 Mills Limited(FML)	57.48 ▲ 5.23 (10.01%)
J.A.Textile / Jun 24 J.A. Textile Mills Limited(JATM)	33.52 ▲ 3.05 (10.01%)
Sardar Chemical / Jun 24 Sardar Chemical Industries Limited(SARC)	77.07 ▲ 7.01 (10.01%)
Buxly Paints / Jun 24 Buxly Paints Limited(BUXL)	251.72 ▲ 22.88 (10%)
Chashma / Jun 24 Chashma Sugar Mills Limited(CHAS)	101.19 ▲ 9.2 (10%)
Fateh Sports / Jun 24 Fateh Sports Wear Limited(FSWL)	111.29 ▲ 10.12 (10%)

Stock	Price
First Fid. Leasing / Jun 24 First Fidelity Leasing Modaraba(FFLM)	22.28 ▼ -2.47 (-9.98%)
Int. Knit. / Jun 24 International Knitwear Limited(INKL)	100.26 ▼ -11.12 (-9.98%)
Aruj Industries / Jun 24 Aruj Industries Limited(ARUJ)	10.80 ▼ -1.14 (-9.55%)
NIT PakistanXD / Jun 24 NIT Pakistan Gateway ETF(NITGETF)	37.25 ▼ -3.75 (-9.15%)
Aisha Steel(ConPS) / Jun 24 Aisha Steel(ConPS)(ASLPS)	23.52 ▼ -2.32 (-8.98%)
Pakgen Power / Jun 24 Pakgen Power Limited(PKGP)	43.13 ▼ -3.72 (-7.94%)
First AL-Noor Mod. / Jun 24 First Al-Noor Modaraba(FANM)	7.06 ▼ -0.51 (-6.74%)
Zuma Resources / Jun 24 Zuma Resources Limited(ZUMA)	104.71 ▼ -7.26 (-6.48%)
Popular Islamic / Jun 24 Popular Islamic Modaraba(PIM)	22.28 ▼ -1.26 (-5.35%)
TPL Insurance / Jun 24 TPL Insurance Limited(TPLI)	25.60 ▼ -1.44 (-5.33%)

Stock	Volume
K-Electric Ltd. / Jun 24 K-Electric Limited(KEL)	112,892,122 ▲ 0.33
Pak Int.Bulk / Jun 24 Pakistan International Bulk Terminal(PIBTL)	73,295,107 ▲ 0.94
WorldCall Telecom / Jun 24 Worldcall Telecom Limited(WTL)	38,761,163 ▲ 0.01
Pak Elektron / Jun 24 Pak Elektron Limited(PAEL)	31,348,609 ▲ 1.02
Maple Leaf Cement / Jun 24 Maple Leaf Cement Factory Limited(MLCF)	27,194,838 ▲ 3.85
PIA Holding Co.Ltd / Jun 24 PIA Holding Company Limited(PIAHCLA)	21,872,379 ▲ 1.92
Kohinoor Spinning / Jun 24 Kohinoor Spinning Mills Limited(KOSM)	20,610,130 ▲ 0.11
Sui South Gas / Jun 24 Sui Southern Gas Company Limited(SSGC)	20,069,542 ▼ -0.9
The Organic Meat / Jun 24 The Organic Meat Company Limited(TOMCL)	20,043,142 ▲ 2.92
B.O.Punjab / Jun 24 The Bank of Punjab(BOP)	18,657,800 ▲ 0.26