News Archives for Latest - 2021-03-19

Pakistan

PM wants to resolve all problems of people: Sheikh Rashid

Prime Minister Imran Khan and his government would complete its five years tenure, adding the prime minister was never afraid of the opposition.

Published 19 Mar, 2021 11:28pm

Pakistan

16 patients tested positive for coronavirus in Balochistan

As many as 18,919 affected patients have been recovered from the coronavirus so far while 203 deaths were recorded due to the deadly virus.

Published 19 Mar, 2021 11:26pm

Pakistan

NAB determined to achieve corruption free Pakistan goal: Chairman

The conviction ratio in NAB cases was 68.8%, which was an excellent achievement as comparing to such other anti-corruption agencies.

Published 19 Mar, 2021 11:20pm

Pakistan

One COVID-19 patient dies, 24 more cases reported in Hyderabad

As many as 139923 tests have so far been conducted in the district, of them 12042 cases were reported positive.

Updated 19 Mar, 2021 11:20pm

Commodities

TCP said to pass in 50,000 tonnes white sugar tender

Two offers were reported in the tender which closed on Tuesday.
Pakistan has issued a series of sugar tenders in recent months to cool local prices.

Published 19 Mar, 2021 10:04pm

Forex

Canadian dollar extends this week's decline as oil falls

Canadian dollar weakens 0.3% against the greenback.
Loonie trades in a range of 1.2461 to 1.2527.
Canadian retail sales fall by 1.1% in January from December.
Canadian bond yields ease across the curve.

Published 19 Mar, 2021 10:02pm

South Asia

Philippines posts record daily COVID-19 cases, approves Russian vaccine

Philippines records 7,103 new COVID-19 infections.
Government scales back operating capacity of businesses.
Russia's Sputnik V vaccine approved for emergency use.
Moderna, J&J make inquiries about approval -FDA chief.

Published 19 Mar, 2021 09:59pm

Stocks

Telecom Italia shares drop as uncertainty clouds single network project

Telecom Italia shares fall more than 6%.
Some ministers have cast doubt on single network plan.
Project must help meet broadband goals – minister.

Published 19 Mar, 2021 09:57pm

Commodities

Copper loses ground as US-China meeting fuels caution

Markets are also unsettled after a rapid rise in US bond yields turned investors cautious, taking some heat from rallies in equities, oil and industrial metals.
Benchmark copper on the London Metal Exchange (LME), which reached a decade high of $9,617 a tonne last month, was at $9,017.50 in official trading, down 0.4% for the day and around 0.7% for the week.

Published 19 Mar, 2021 09:55pm

Stocks

Nigerian stocks drop 1.37pc to three-month low

The all-share index, which rose 50% in 2020, shed 1.37% on Friday, the most in one day since December.
BUA Cement shed 6.42% while Dangote Cement , the biggest listed firm, fell 3.42%. MTN Nigeria , the second biggest listed firm, dropped 1.81%.

Published 19 Mar, 2021 09:53pm

Stocks

Bank stocks, dismal retail sales data drive TSX lower

The energy sector dropped 0.8% as a new wave of coronavirus infections across Europe triggered fresh lockdowns, while the financials sector slipped 0.7%.
Toronto Stock Exchange's S&P/TSX composite index was down 65.17 points, or 0.35%, at 18,771.3.

Published 19 Mar, 2021 09:51pm

Forex

Latam FX firm; Pemex move puts Mexico's credit rating in focus

Brazil's real extends gains to third straight session.
Bovespa ends longest weekly winning streak in eight years.
Pemex move worsens credit outlook for Mexico – Citi.

Published 19 Mar, 2021 09:48pm

Companies

Chinese miner Zijin posts record annual profit as gold, copper prices surge

Revenues rose 47% to 182.3 billion yuan last year, the company said in a filing, as it cashed in on more than 25% rises in the prices of precious metal gold, which hit an all-time peak in August, and industrial metal copper.
The price jump bolstered Zijin's coffers, with cash and cash equivalents almost doubling from a year earlier to 11.79 billion yuan as of Dec. 31, paving the away for the continuation of an acquisition spree that has seen the company buy mines in Colombia and Guyana.

Published 19 Mar, 2021 09:46pm

Energy

US LNG exports on track to hit record high in March

The rebound in US LNG is...supported by falling freight rates in the Atlantic Basin, which dizzyingly fell from $322,000 per day two months (ago) to just $21,000 per day.
On a daily basis, US LNG feedgas was on track to reach 11.4 bcfd on Friday, which would top the 11.3-bcfd record in mid-December, according to preliminary data from Refinitiv.

Published 19 Mar, 2021 09:44pm

Financial

Yields retreat from more than one-year highs

The 30-year bond yield also eased after reaching 2.518% on Thursday, its highest since August 2019. It was last less than a basis point lower at 2.4685%.
"Ultimately, what we're seeing now is a great deal of tension between market prices that embed several rate hikes before the end of 2023 and the Fed's forecast that doesn't expect liftoff until 2024," he said.

Published 19 Mar, 2021 09:42pm

Europe

Swiss postpone plans to lift COVID-19 restrictions

The risk of an uncontrolled increase in the number of cases is currently too great for further openings.
Currently, infections are expected to double every three to four weeks, the government said, warning new variants of COVID-19 make up to 80% of the new cases.

Published 19 Mar, 2021 09:40pm

Sports

Ancelotti backs goalkeeper Virginia with Pickford, Olsen out injured

"No I'm not worried, because Joao is young, a goalkeeper without experience, but he has a lot of quality. I'm not worried for the absence of the two goalkeepers," Ancelotti told a news conference.
"I'm not complaining for the players that are not available. It'll be a difficult game, but I don't think it's an easy game for City. They have better quality than us, but I'm sure they will have a difficult game.

Published 19 Mar, 2021 09:38pm

Pakistan

Bahrain’s commander calls on COAS, discusses regional security

COAS Bajwa said that Pakistan values its strong diplomatic, economic and defence relations with the Kingdom of Bahrain.
Both the leaders reiterated the desire to further enhance bilateral cooperation including efforts for peace and security in the region, said ISPR.

Updated 19 Mar, 2021 09:41pm

Stocks

Dow, S&P 500 drop as bank stocks slump

FedEx jumps as profit soars on pandemic-fueled demand.
Banks drop as Fed to let leverage exemption expire.
Nike falls as sales miss estimates.
Indexes: Dow down 0.9%, S&P dips 0.4%, Nasdaq up 0.1%.

Published 19 Mar, 2021 09:38pm

Commodities

Gold eases as dollar, US Treasury yields rise

Palladium heads for best week since early November.
Gold up more than 0.5% this week.
Platinum drops to one-week low.

Published 19 Mar, 2021 09:26pm

Forex

US dollar gains after Fed moves to lift key bank leverage rule

Dollar index hits more than one-week high.
Fed says it will let bank ratio expire on March 31.
BoJ widens its target band for 10-year yields.

Published 19 Mar, 2021 09:25pm

Europe

Italy to detail 32bn euros of stimulus, extend ban on firing

Extra spending to fund furlough schemes, grants for businesses.
Draft decree includes 2.8 billion euros for vaccine roll-out.
Draghi promises new stimulus in April, shunting up 2021 deficit.

Published 19 Mar, 2021 09:23pm

Money & Banking

Russia lifts interest rates amid rising inflation, geopolitical risks

Russia hikes rates in first move since July 2020.
Central bank says more rate hikes possible soon.
Higher rates designed to help tame inflation.
Move expected to bolster rouble.

Published 19 Mar, 2021 09:20pm

USA

Mexican president thanks Biden for COVID shots to ease shortage

President Andres Manuel Lopez Obrador told a news briefing that the United States will send doses of AstraZeneca's vaccine, which are slightly more than the 2.5 million US officials had previously indicated.
Lopez Obrador said that in return for the vaccines, Mexico would give the United States what it had "always" given, namely "friendship and cooperation across all spheres."

Published 19 Mar, 2021 09:18pm

Europe

Finland suspends use of AstraZeneca COVID-19 vaccine

The institute said it estimated that the investigation would take at least one week. It said earlier this week that it had received any reports of cases of blood clots among people who had taken the AstraZeneca vaccine in Finland.

Published 19 Mar, 2021 09:16pm

Sports

Zagreb debacle hints something is broken at Tottenham

When Argentine winger Erik Lamela conjured a piece of wizardry to put Tottenham ahead against Arsenal last Sunday with a 'Rabona' goal it seemed it was rubbing off on his players.
After the most humbling European night of his glittering managerial career an ashen-faced Mourinho accused his players of failing "with the basics of life".

Published 19 Mar, 2021 09:14pm

USA

US Fed to let bank leverage exemption expire this month, will review rule

The Fed said it would, however, launch a formal review of the capital rule, known as the "supplementary leverage ratio," due to concerns it is no longer functioning as intended as a result of the central bank's emergency COVID-19 pandemic monetary policy measures.
"Wall Street bank stocks will get punished because now they will have to put more money aside," Edward Moya, senior market analyst at foreign exchange brokerage Oanda, said in an email.

Published 19 Mar, 2021 09:13pm

USA

Minneapolis judge rejects request to move trial of ex-policeman in Floyd death

Chauvin's lead lawyer, Eric Nelson, has complained to the court that publicity around the trial has tainted the jury pool in and around Minneapolis, citing in particular the city's announcement last week that it would pay Floyd's relatives $27 million to settle their wrongful-death lawsuit.
"I don't think there's any place in the state of Minnesota that has not been subjected to extreme amounts of publicity in this case," Cahill said.

Published 19 Mar, 2021 09:10pm

Europe

G7 makes progress on pandemic relief for poorer nations: UK

Britain - which is chairing the Group of Seven (G7) this year - said G7 finance ministers had agreed to support a "new and sizeable" increase in the volume of Special Drawing Rights (SDRs), an internal currency used by the IMF.
Any expansion of SDRs will need to be agreed with other countries ahead of the IMF's spring meeting that takes place in April.

Published 19 Mar, 2021 09:08pm

Companies

Citgo Petroleum director Luisa Palacios to leave board at month's end

Palacios, who joined the company in February, 2019, when it created a board independent of Venezuelan state oil firm PDVSA, stepped down as chairperson last October.
Luisa has provided vital service to our company and has made enormous contributions during a pivotal time in the history of Citgo.

Published 19 Mar, 2021 09:07pm

Energy

Oil prices edge higher after sell-off driven by demand concerns

Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel.
Oil closed about 7% down on Thursday as several large European economies reimposed lockdowns and vaccination programmes were slowed by distribution issues and concerns over potential side effects.

Published 19 Mar, 2021 09:05pm

Sports

Arteta expects tough test for Arsenal at West Ham

"Not really. I think they have a really strong squad and they have a great manager and coaching staff," Arteta told a news conference.
"He gets the group together, they're working really hard for each other, they've recruited really well and you can start to see the things that David has done."

Published 19 Mar, 2021 09:03pm

Sports

Chelsea must find balance between attack and counter-pressing – Tuchel

We lack some precision in the final third and some goals, but we've never lacked the work-rate against the ball, touches in the box, shots.
"We'll never stop to think about how to create chances, offensive solutions, where to create spaces and to accelerate our attacks. But we also think about counter-pressing."

Published 19 Mar, 2021 09:01pm

Europe

Russia delivers Sputnik V vaccine to St Petersburg after shortage problems

Russia has said it has vaccinated 3.5 million of its 144 million population with both shots of the Sputnik V vaccine since it began in early December.
On Friday, St Petersburg, a city of more than 5 million, received 15,300 doses of the two-component vaccine, the municipal authority said on its website.

Published 19 Mar, 2021 08:56pm

South Asia

Chinese military bans Tesla cars in its complexes on camera concerns

Tesla drivers ordered to park outside military property- sources.
Residents of military housing notified this week –sources.
Military concerned about security due to car cameras –sources.
Tesla shares down 1.8% in early deals.
Tesla cars popular in China, made in Shanghai Gigafactory.

Published 19 Mar, 2021 08:54pm

Europe

EU's von der Leyen considers visiting Turkey as ties defrost

The EU threatened Ankara with sanctions last year after a flare-up in a decades-old dispute between Turkey and Greece over maritime jurisdiction and energy resources in the Mediterranean.
We underlined the importance of sustained de-escalation and of further strengthening confidence building to allow for a more positive EU-Turkey agenda.

Published 19 Mar, 2021 08:52pm

Energy

Russian oil exports from western ports set to be stable April 1-10 vs month before

Urals oil loadings from the Baltic ports of Primorsk and Ust-Luga were set at 1.2 million tonnes, and Urals and Siberian Light oil exports from Novorossiisk were set at 0.38 million tonnes, both unchanged from March 1-10 volumes, the schedule showed.

Published 19 Mar, 2021 08:50pm

Forex

Jittery oil prices limit rouble gains after surprise rate rise

The rouble has suffered this week since US President Joe Biden said his Russian counterpart Vladimir Putin would "pay a price" for alleged meddling in the 2020 US election.
A surprise 25 basis point rate rise by the central bank and the promise of more to come briefly boosted the rouble before oil prices turned negative, adding to pressure on Russian assets.

Published 19 Mar, 2021 08:48pm

Forex

Brazil's real rallies, eyes longest winning streak since Nov

The real was on track for its fourth daily gain against the US currency, marking its longest winning streak since early November last year.
Around midday on Friday, the real was up 1.3% at 5.4935 per dollar, putting the greenback on course for its first close below 5.50 reais since Feb. 24.

Published 19 Mar, 2021 08:47pm

USA

Canada PM Trudeau blasts lack of transparency around China's trial of Canadians

"Their arbitrary detention is completely unacceptable, as is the lack of transparency around these court proceedings," he told a news conference.

Published 19 Mar, 2021 08:45pm

Stocks

Stocks fall, led by bank shares; oil steadies after plunge

Fed to let leverage exemption expire on March 31.
US 10-year yields near 14-month highs.
Dollar hits highest level in a week.
Oil prices rise after steep Thursday fall.

Updated 19 Mar, 2021 08:46pm

Europe

'We need time': Nordic caution keeps AstraZeneca shots on hold

Several European countries last week suspended use of the vaccine following reports of rare instances of blood clots in some people who had been vaccinated.
This does not change the fact that, on the basis of a precautionary principle, we are continuing our suspension, because we need to understand this better, so that we can say with certainty that we recommend this vaccine.

Updated 19 Mar, 2021 08:44pm

Europe

French regulators recommends AstraZeneca for over-55s after suspension

France was one of more than a dozen European Union states that suspended use of the Anglo-Swedish vaccine this week following reports of blood clotting in a small number of recipients of the shot.
The EU's drug watchdog (EMA) on Thursday said it was convinced the benefits of the AstraZeneca vaccine outweighed the risks.

Published 19 Mar, 2021 08:12pm

Sports

Belgium skipper Hazard could still make Euros, says Martinez

The Belgium captain has struggled with a series of injuries this season that have limited his playing time for both Real Madrid and his country and he will miss the three World Cup qualifiers this month.
He has a long way to go in his recovery and we must not set any time limits on him. It would be wrong and it would be gambling by anyone to try and imagine whether he is going to be fully fit or not.

Updated 19 Mar, 2021 08:14pm

South Asia

India's richest state hit by biggest virus surge, hospital beds fill up fast

Maharashtra accounts for 65% of India's overnight infections.
Mumbai may place stricter curbs on movement.
Doctors blame relaxed hygiene measures among people.

Updated 19 Mar, 2021 08:11pm

Pakistan

ECP seeks Army, Rangers deployment for NA-249 by-election

The security personnel will be deployed at all the polling stations to avoid any untoward incident, said ECP.
The by-elections in the NA-249 Karachi constituency would be held on April 29.

Published 19 Mar, 2021 07:54pm

Sports

Khabib officially retired: confirms Dana White after last meeting

The Dagestan-born fighter hung his gloves after defending his title against Justin Gaethje in October 2020.
On Thursday, both White and Khabib took to social media to reveal the outcome of their final meeting.

Published 19 Mar, 2021 07:52pm

Industry

Italy, France did not discuss Rome buying Stellantis stake

Stellantis was formed at the beginning of this year through the merger of Fiat Chrysler and France's PSA.
The French government, a former investor in PSA, holds a 5.7% stake.

Published 19 Mar, 2021 07:46pm

Money & Banking

NatWest to cut UK government stake with $1.5bn buyback

NatWest buys 1.1 billion pounds of shares.
First off-market deal after two wider sales.
Reduces government shareholding to 59.8%.
NatWest shares up.

Published 19 Mar, 2021 07:43pm

Europe

Cameroon suspends use of AstraZeneca vaccine

The ministry said in a statement that March 18 that the suspension was for precaution and prudence. It gave no further reasons for the decision or if it will go ahead and take delivery of its share of the vaccine.

Published 19 Mar, 2021 07:37pm

Europe

UK borrowing likely to undershoot estimate

With one month of the fiscal year remaining, borrowing has reached 278.8 billion pounds. That far exceeds the previous annual record set at the height of the financial crisis in 2009-10.
"But it looks set to undershoot our latest estimate for borrowing in 2020-21 (on a like-for-like basis with the published ONS data) of 327.4 billion pounds, thanks to even greater under-spending by government departments than our forecast assumes."

Published 19 Mar, 2021 07:41pm

Companies

Planemaker Embraer narrows losses in Q4 on higher plane deliveries

Still, Embraer, the world's No. 3 planemaker, lost a total of $732 million in 2020, more than double its loss for 2019, due to the pandemic's crippling effect on air travel.
The last quarter delivered Embraer's strongest pandemic results yet. Revenue came in at $1.8 billion for the quarter, 12% lower than a year earlier, while full-year revenue was down 31%.

Published 19 Mar, 2021 07:29pm

Europe

Northern Ireland's peace deal under threat unless EU changes Brexit deal

We're saying there is a window of opportunity for constructive dialogue to see if we can actually get a workable solution, and I've no doubt we could get a workable solution, but it does require Brussels and Dublin to return to honouring the core guarantees of the (Belfast) Agreement.
If it doesn't happen, then they are opening a Pandora's box which leads to significant protest, to the bringing down of the Northern Ireland executive and then into a significant political crisis.

Published 19 Mar, 2021 07:26pm

Middle East

Yemen's Houthis say drone attack hits Saudi Aramco in Riyadh

Sarea said operations against Saudi Arabia will continue and escalate as long as Saudi "aggression" against Yemen continues.
Sarea warned "foreign companies and citizens" to avoid military sites and key infrastructure.

Published 19 Mar, 2021 07:22pm

Europe

Belgium can still avoid third coronavirus wave

After a long plateau phase, we are now at the foot of what could become a new wave. It is still possible to turn a wave into a wavelet.
Daily new infections have been creeping higher in Belgium in recent days and the latest seven-day average now stands at 3,266, a rise of 34% from last week.

Published 19 Mar, 2021 07:21pm

USA

Brazil's COVID-19 infections rise on oil rigs

In addition to a higher number of infections, the rolling average of cases for the past 15 days rose to 37 from 30 in the previous report, ANP data showed.

Published 19 Mar, 2021 07:19pm

Forex

Sterling slips vs dollar; investors focus on vaccines, UK-EU tensions

Sterling has gained around 1.8% so far this year against the dollar and 4.2% versus the euro.
The Bank of England kept its interest rates and 895 billion pound bond-buying programme unchanged, as expected.

Published 19 Mar, 2021 07:17pm

Companies

NextDecade proposes carbon capture for Texas Rio Grande LNG project

Rio Grande is one of 14 North American projects awaiting a potential final investment decision in 2021, most of which were carried over from 2020 when just one started construction.
NextDecade expects the CCS project to reduce permitted carbon dioxide emissions at Rio Grande by more than 90%.

Published 19 Mar, 2021 07:15pm

Sports

Man United face Granada in Europa League last eight, Arsenal meet Slavia Prague

Should United get past the Europa League debutants, they could be handed a reunion with the team they beat in the 2017 final - Ajax Amsterdam - in the last four.
There could be a reunion on the cards for Arsenal, should they progress to the last four, as they could take on the winner of the quarter-final between former Gunners coach Unai Emery's Villarreal and Tottenham Hotspur conquerors Dinamo Zagreb.

Published 19 Mar, 2021 07:13pm

Stocks

Wall Street headed higher as bond yields ease

FedEx jumps as profit soars on pandemic-fueled demand.
Energy stocks rise as oil rebounds after selloff.
Nike drops as sales falls short of estimates.
Futures up: Dow 0.13%, S&P 0.31%, Nasdaq 0.76%.

Published 19 Mar, 2021 07:11pm

Europe

Germany warns vaccinations alone will not contain COVID-19 third wave

Spahn says doctors will now be more informed of risks.
Merkel to discuss speeding up rollout with state leaders.
Spahn says would favour supply deal for Russia's Sputnik V.

Published 19 Mar, 2021 07:09pm

Europe

Dutch coronavirus cases make biggest daily jump since January

The Dutch government is set to decide in the coming days whether there is any room to ease a broad lockdown, which includes a nighttime curfew and the closure of all bars and restaurants in the country.

Published 19 Mar, 2021 07:08pm

USA

US FDA approves J&J's multiple sclerosis treatment

The FDA approved Ponvory as a daily oral drug to treat relapsing forms of multiple sclerosis, a debilitating neurological condition in which the immune system eats away at the protective covering of nerves.

Published 19 Mar, 2021 07:06pm

Money & Banking

JPMorgan Asset Management to invest in China bank's wealth mgt unit

JPMorgan would take a 10 percent stake in CMB Wealth Management as a strategic investor while the Shenzhen-based lender will retain a 90 percent stake, it said in a filing with the Shanghai stock exchange.
The investment would deepen the cooperation between the bank and the strategic investor and is good for CMB Wealth Management to enhance its internal governance.

Published 19 Mar, 2021 07:04pm

South Asia

Taiwan to start COVID shots next week with AstraZeneca vaccine

Taiwan's first vaccines - 117,000 doses of the AstraZeneca shot - arrived on the island earlier this month from a South Korean factory.
Around 60,000 people are in line to get the first vaccinations and Taiwan is prioritising health workers to get the shots.

Published 19 Mar, 2021 06:55pm

Companies

Toyota to halt production at Czech car plant due to shortage of semiconductors

The shortage is due to poor weather conditions in North America, CTK said.
Toyota makes small cars for the European market at the plant, which produces around 200,000 vehicles per year. Part of the production is for French partner PSA, which had co-owned the plant until last year.

Published 19 Mar, 2021 06:53pm

Companies

Blackstone closes inaugural growth equity fund at $4.5bn

BXG's investments include online dating company Bumble Inc and vegan food and drink products maker Oatly, which counts Oprah Winfrey and rapper Jay-Z among its prominent backers, Blackstone said.
Blackstone is also seeking to raise $4 billion for a fund to invest in various asset classes, Reuters reported earlier this month citing people familiar with the matter.

Published 19 Mar, 2021 06:48pm

Commodities

Raw sugar hits 1-1/2 month low; coffee, cocoa also weaken

May raw sugar fell 1.1% to 15.70 cents per lb.
May arabica coffee fell 0.5% to $1.2950 per lb, having slid 2.7% on Thursday.

Published 19 Mar, 2021 06:43pm

South Asia

Myanmar security forces kill nine as Indonesia, envoys call for end to violence

Security forces open fire in confrontation over barricade.
Indonesian leader calls for end to violence.
Singapore military chief also expressed concern.
Two reporters detained in capital.

Published 19 Mar, 2021 06:39pm

Pakistan

More restrictions imposed in Islamabad amid surge in COVID-19 cases

As per the notification issued by the administration, the out-door dining facility will remain shut in the capital city after 10:00 pm.
Moreover, The markets, restaurants will remain completely shut on weekdays (Saturday and Sunday), while the grocery and medical stores will, however, remain open during the restricted period.

Updated 19 Mar, 2021 06:47pm

Sports

Man Utd pick German tech company TeamViewer as shirt sponsor

The agreement will begin in the 2021/22 season, the English Premier League soccer club said, without disclosing financial terms.
The club had extended its $559 million seven-year contract with Chevrolet that was due to expire in June 2021 by six months because of disruptions caused by COVID-19.

Published 19 Mar, 2021 06:38pm

Companies

S.Africa's Northam Platinum sets out five-year output growth plan after profit bonanza

Northam Platinum posts 74% increase in H1 profit.
Forecasts 3 billion rand FY2021 capex spend.
To boost output to over 1 million ounces by 2026.

Published 19 Mar, 2021 06:35pm

Europe

Erdogan says to talk east Med, other issues with EU chiefs

EU leaders had threatened punitive measures against Ankara over its offshore activities. But Reuters reported Thursday the EU froze plans for further measures against executives at state-owned Turkish Petroleum Corporation (TPAO).
By discussing the eastern Mediterranean issue primarily, we will have the opportunity to discuss all our issues once again, from the expectations of Turkey, as a NATO ally, from the EU, to the visa liberalisation and Customs Union issues.

Published 19 Mar, 2021 06:32pm

USA

US Fed to let leverage exemption expire on March 31, will review rule

Friday's decision means banks will have to resume holding an extra layer of loss-absorbing capital against those assets.
On Friday, Fed officials said they were confident that allowing the exemption to expire would not impair Treasury market liquidity or cause market disruption because the Treasury market had stabilized and big banks have high levels of capital.

Published 19 Mar, 2021 06:29pm

Commodities

Copper loses ground as fiery US-China meeting fuels caution

Markets are also unsettled after a rapid rise in US bond yields turned investors cautious, taking some heat from rallies in equities, oil and industrial metals.
Copper inventories in the LME system rose by 12,300 tonnes to 104,950 tonnes and Shanghai Futures Exchange stocks by 15,578 tonnes to 187,372 tonnes in the week to Friday.

Published 19 Mar, 2021 06:27pm

Companies

Boliden launches low-carbon copper products

The main spotlight on cutting emissions from industrial metals so far has been aluminium due to its very energy-intensive production, but copper's wide use makes it important as well, he added.
Copper, the third most consumed industrial metal after iron and aluminium, is used in electric cabling, construction and increasingly in electric vehicles and wind turbines.

Published 19 Mar, 2021 06:24pm

Energy

Oil prices steady after sell-off driven by demand fears

Brent crude was up 2 cents at $63.30 a barrel.
WTI US crude rose 15 cents, or 0.3%, to $60.15. Both traded within a wide range of more than $2 a barrel on Friday.

Published 19 Mar, 2021 06:22pm

Commodities

Gold firms on dollar and US bond yield retreat

US bond yields dip from 14-month highs.
Palladium heads for best week since early November.
Gold up more than 0.8% this week.

Published 19 Mar, 2021 06:20pm

Commodities

Higher prices stall demand in India; activity dim elsewhere

China premiums at $7-$9/oz versus $8-$10 last week.
Jewellers reducing purchases due to COVID-19 curb fears- Mumbai-based dealer.
- Investors selling their bars this week- Tokyo-based retailer.

Published 19 Mar, 2021 06:17pm

Commodities

Soybeans and corn steadies while wheat weakness remains

Soybeans consolidate after Thursday rout in oil and oilseeds.
South America weather still in focus.
Corn also steadies as China demand watched.
Wheat eases again on improving crop conditions.

Published 19 Mar, 2021 06:15pm

Forex

Russian rouble rises after surprise rate hike; EM stocks suffer

Russian c.bank hikes by 25 bps; rouble rises as much as 0.9%.
Lira extends rally after 200 bps rate hike.
EM FX index set to break four-week losing run.

Published 19 Mar, 2021 06:13pm

Sports

UCL quarterfinals: Bayern face PSG, Real draw against Liverpool

In other two fixtures, Manchester City will face Borussia Dortmund and Chelsea draw against FC Porto.
The first-leg UCL quarter-final matches are scheduled for April 6 and 7 while the second leg will be played on April 13 and 14.

Updated 19 Mar, 2021 06:15pm

Financial

US bond yields ease from 14-month highs, oil steadies

US 10-year yields at 1.68%, near 14-month high.
Oil prices flat after huge Thursday fall.
Nasdaq futures up 0.65% after sharp Thursday drop.

Published 19 Mar, 2021 06:11pm

Forex

Dollar pauses as traders weigh Fed's dovish stance

The Fed's loose policy stance on Wednesday triggered a dollar sell-off and pushed up 10-year Treasury yields to 14-month highs.
The benchmark US 10-year yield eased on Friday to 1.6838%, after hitting a more-than-one-year peak of 1.754% in the previous session.

Published 19 Mar, 2021 06:09pm

Stocks

Indian shares end higher in volatile trade; Future Group firms slide

The blue-chip NSE Nifty 50 index ended up 1.28% at 14,744 and the benchmark S&P BSE Sensex rose 1.3% to 49,858.24. Earlier in the session, the Sensex and Nifty shed up to 1.43% and 1.28%, respectively.
Sentiments in the short-term, however, are weak due to a rise in COVID-19 cases and volatility in bond yields, Sharma said.

Updated 19 Mar, 2021 06:10pm

Stocks

Sri Lankan shares end lower as industrial, financial stocks weigh

The CSE All-Share Index closed down 1.1% at 6,854.32 and closed 5.42% lower for the week.
Among individual stock moves, financial services conglomerate LOLC and Browns Investments were the top drags on the CSE All-Share index, falling 4.1% each.

Updated 19 Mar, 2021 06:08pm

Business & Finance

State Bank MPC: Policy Rate remains unchanged at 7pc

Growth in FY21 is now projected to be higher than previously anticipated due to improved prospects for manufacturing and reflecting in part the monetary and fiscal stimulus provided during Covid.
Looking ahead, as the temporary increase in inflation from administered prices wanes, inflation should fall to the 5-7 percent target range over the medium-term.

Updated 19 Mar, 2021 05:21pm

How the Healthcare Industry can be changed in The Future

How the Healthcare Industry can be changed in The Future Pakistan is progressing in the healthcare industry;...

Updated 19 Mar, 2021 05:19pm

Pakistan

PM inaugurates three tunnels along 80-kilometre long Swat Expressway

The expressway comprises of seven interchanges and three new tunnels of 1,266, 271 and 324 meters of length
The PM was accompanied by KP CM Mahmood Khan and Federal Minister for Communications and Postal Services Murad Saeed

Published 19 Mar, 2021 04:16pm

Pakistan

Federal govt notifies JPMC Karachi takeover

“The federal government has been pleased to constitute a Board of Governors, in respect of Jinnah Postgraduate Medical Centre (JPMC), Karachi under section 4 of the Federal Medical Teaching Institute Ordinance 2020.”
Mushtaq Kassim Chappra, Philanthropist and Industrialist, Ms. Ronaq Lakhani, Philanthropist, Dr Muhammad Irfan Daudi, Associate Professor Surgery/Consultant Surgeon and Mr Rashid A. Khan, Businessman are part of the board.

Updated 19 Mar, 2021 03:54pm

USA

Russia hosts extended "Troika" on Afghan reconciliation; Pakistan involved as key stakeholder

A statement released by the forum called on all involved parties to "reduce the level of violence in the country and on the Taliban not to pursue a Spring offensive, so as to avoid further casualties and to create an environment conducive to reaching a negotiated political settlement".

Updated 19 Mar, 2021 03:35pm

Commodities

South Korean mills bought about 50,000 tonnes Australian wheat

The wheat was for July arrival in South Korea.

Published 19 Mar, 2021 03:16pm

Business & Finance

Bulgaria current account posts surplus of 0.1% of GDP in January

Foreign direct investment, much needed to boost growth in the European Union's poorest member state, was 32.7 million euros in January, down from 108.4 million euros a year ago.

Published 19 Mar, 2021 03:14pm

World

Nearly a dozen countries resume AstraZeneca shots after EU, UK regulators say benefits outweigh risks

It said it would investigate reports of clots in the cerebral veins (sinus vein thrombosis, or CSVT) occurring together with lowered platelets soon after vaccination. But the agency said use of the vaccine should continue and one official said Britain's rollout would likely not stop even if a link was proved.

Updated 19 Mar, 2021 03:14pm

Business & Finance

K-2 nuclear plant successfully synchronized with National Grid

Back in December, the CNNC started fuel-loading at the Karachi 2 reactor as part of the process to connect it to the grid.

Updated 19 Mar, 2021 03:00pm

Pakistan

SC rejects PTI's plea, declines to suspend ECP order on re-polling in NA-75 Daska

Justice Muneeb Akhtar says nothing will change even we nullify the ECP’s orders
The top court adjourned the hearing of the case until next week

Published 19 Mar, 2021 02:34pm

Pakistan

45 shops, wedding halls sealed in Lahore for violating coronavirus SOPs

The shops and halls have been sealed in Lahore Cantt, New Lahore City, Shalimar Town and Model Town.
The sealed shops and halls have been fined Rs65,000 each.

Published 19 Mar, 2021 02:34pm

Pakistan

Karachi police establish ‘social media and traffic monitoring unit’

The unit is aimed to ensure smooth flow of traffic on the port city’s busy roads using the web mapping service, Google Maps and social media platforms, including WhatsApp, Facebook and Twitter.
Additional Inspector General (AIG) Karachi Ghulam Nabi Memon inaugurated the unit.

Updated 19 Mar, 2021 02:43pm

Business & Finance

Govt to launch Peri-Urban housing scheme in Punjab

Shahbaz Gill said the peri-urban housing project will be expanded to all tehsils of Punjab.

Published 19 Mar, 2021 02:25pm

Pakistan

Need to focus on improving education sector, says PM

Imran says money cannot buy happiness and no one can succeed in life by using shortcuts
Pakistan was not created to increase the wealth of Sharif and Zardari family: PM

Updated 19 Mar, 2021 01:43pm

UNSG calls Pakistan a 'fundamental partner' of United Nations

"The UNSG valued Pakistan’s constructive contributions towards the effective functioning of the Organisation in the different areas of its work, calling Pakistan a fundamental partner of the United Nations," the FO statement said.
Both the leaders agreed that the Afghan peace process must be taken forward through consultations and in a manner that helps establish peace, and prosperity in Afghanistan and the region.

Published 19 Mar, 2021 12:41pm

Pakistan

FM says responsibility of creating enabling environment for dialogue with Pakistan rests with India

Qureshi said Pakistan will not shy away from dialogue if India expresses readiness for a peaceful solution to the Kashmir dispute.
On Thursday, Chief of Army Staff (COAS) General Qamar Javed Bajwa said that it was time for India and Pakistan to bury the past and move forward.

Published 19 Mar, 2021 12:07pm

World

China reports 11 new COVID-19 cases vs six a day earlier

The number of new asymptomatic cases, which China does not classify as confirmed cases, fell to five from six cases a day earlier.

Published 19 Mar, 2021 12:14pm

Business & Finance

PMRC issues Rs3.1bn sukuk for housing finance

Pakistan Mortgage Refinance Company (PMRC) has issued a first of its kind Sukuk of PKR 3.1 billion at 8.25% for the promotion of housing finance in Pakistan

Updated 19 Mar, 2021 12:12pm

Commodities

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

Thailand's benchmark 5% broken rice prices eased to $505-$513 per tonne on Thursday, from last week's $505-$515.

Published 19 Mar, 2021 12:07pm

Companies

Ford partly assembling some vehicles, idling two plants due to chip shortage

In Cologne, where the Fiesta car is built, the plant is being idled March 1-16 and March 22. The company did not say what volume was being lost due to that action.

Published 19 Mar, 2021 12:03pm

Stocks

Japanese shares drop as tech losses eclipse gains in cyclicals

The stocks that gained the most among the top 30 core Topix names were Honda Motor, up 1.96%, followed by Mizuho Financial.

Published 19 Mar, 2021 12:01pm

Business & Finance

SBP to announce MPS today

Later on, the SBP will issue the MPS to announce the decision of the committee for key policy rate.

Updated 19 Mar, 2021 12:03pm

World

Philippines approves emergency use of Russia's Sputnik V vaccine as COVID-19 cases spike

The Philippines, which has the second-highest number of COVID-19 cases and deaths in Southeast Asia, is facing a renewed wave of infections, with nearly 20,000 new cases reported in the past four days.

Published 19 Mar, 2021 11:59am

Markets

Free-float exchange rate major contributor behind PKR rise against USD: Expert

The rise in Pakistan's remittances and exports and the accumulation of dollars in the SBP Roshan Digital Accounts are among the factors behind the rupee appreciation against the dollar.

Updated 19 Mar, 2021 12:00pm

Commodities

Indonesia estimates 2021 coal output at 591mn tonnes

Coal exports, meanwhile, are estimated to reach 408 million tonnes this year, slightly lower than the government's initial target of 412.5 million tonnes, the data showed.

Published 19 Mar, 2021 11:56am

Financial

Indonesia central bank aims to keep FX supply, demand in balance amid weak rupiah

"The market is dynamic and we will strive to maintain foreign exchange supply and demand," Hariyadi said.

Published 19 Mar, 2021 11:54am

Sports

Gerrard calls on UEFA to act after player 'racially abused'

Slavia denied the allegations and said in a statement Kudela had been assaulted by Kamara after the game. The defender said his remarks to the Finnish midfielder, who is Black, had not been racist.

Published 19 Mar, 2021 11:52am

Stocks

Indian shares fall on fears of fund outflows; Future Group firms drop

The spike in yields also weighed on broader Asian markets.

Published 19 Mar, 2021 11:49am

Pakistan

Pakistan's COVID positivity rate reaches 8% with 3,449 new infections in 24 hours

At least 40 people died of the virus in the last 24 hours raising the death toll to 13,757
NCOC states that 42,845 tests were conducted across the country while 2,064 people admitted in different hospitals are in critical condition

Published 19 Mar, 2021 11:50am

Stocks

China, Hong Kong stocks drop as higher bond yields hit sentiment

Yields on US 10-year notes spiked to the highest since early 2020 overnight, dragging down global and Asian equity markets as richly priced tech stocks declined.

Published 19 Mar, 2021 11:47am

World

Indonesia president calls for ASEAN high level meeting on Myanmar crisis

Brunei is currently chair of the 10-member Association of Southeast Asian Nations (ASEAN).

Published 19 Mar, 2021 11:45am

Mutual Funds

JGB futures fall after BOJ widens 10-year yield trading band

At the short end, the two-year JGB yield rose 0.5 basis point to minus 0.140%.

Published 19 Mar, 2021 11:43am

Sports

Yadav's controversial dismissal sparks 'soft signal' debate

"I think this rule needs to be revisited and changed," Laxman tweeted.

Published 19 Mar, 2021 11:41am

Business & Finance

Taiwan February export orders seen up for 12th month in row

Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets, and typically lead actual exports by two to three months.

Published 19 Mar, 2021 11:39am

Forex

Australia, NZ dollars caught out by oil spill, soft data

Yields on Australian 10-year paper eased to 1.82%, from 1.87%. That left the spread over Treasuries at 12 basis points, a long way from the 39 basis points seen at one stage of the mass sell-off in February.

Published 19 Mar, 2021 11:37am

Energy

Goldman sees oil price pullback as buying opportunity

"We estimate that the oil market has remained in a large 2.5 million bpd deficit since February despite our estimate that Iran exports have increased by 0.7 million bpd year-to-date," Goldman said in a note dated March 18.

Published 19 Mar, 2021 11:35am

Stocks

Japan's Nikkei drops after BOJ's plan to buy only Topix-linked ETFs

The so-called NT ratio of the Nikkei and Topix dropped sharply to 14.84 from 15.04 on Thursday. It hit a record high of 15.68 earlier this month.

Published 19 Mar, 2021 11:34am

Financial

BOJ widens yield target band, pledges to buy risky assets only when necessary

The challenge for the BOJ would be to convince markets that by making its policy framework sustainable, it can eventually push up inflation to its elusive 2% target.

Published 19 Mar, 2021 11:32am

World

Turkish police detain HDP officials, rights group head

There were arrest warrants for 15 people in total, it added.

Published 19 Mar, 2021 11:29am

Commodities

Palm slides to two-week low on higher supply outlook

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

Published 19 Mar, 2021 11:28am

Financial

BOJ widens band around long-term rate target

Under a policy dubbed yield curve control, the BOJ targets short-term interest rates at -0.1% and the 10-year bond yield around 0%. It also buys risky assets such as exchange-traded funds (ETF) as part of efforts to fire up inflation.

Published 19 Mar, 2021 11:24am

World

Twenty years on, EU turns cold on Mercosur trade deal

However, that would coincide with French President Emmanuel Macron's campaign for re-election in a potentially tight race, in which a Mercosur deal could cost him support.

Published 19 Mar, 2021 11:21am

Commodities

Copper falls as dollar firms on higher US yields

"The yields rising indeed brought more demand for the US dollar...(but) the Fed meeting was actually very bullish for value or cyclical assets," said a Singapore-based metal trader.

Published 19 Mar, 2021 11:19am

Energy

Australia's Woodside to let shareholders vote on climate change report in 2022

The ACCR said it withdrew the resolution after Woodside committed for a shareholder vote at the 2022 AGM, but said it would continue to engage with the company about a recurring annual vote beyond next year.

Published 19 Mar, 2021 11:17am

Energy

Oil extend losses amid gloomy demand outlook

In other parts of the world, Brazil registered its second deadliest day in its COVID-19 pandemic, with 2,724 deaths, while India on Friday reported its highest daily increase of new COVID-19 cases in more than three months.

Published 19 Mar, 2021 11:15am

Companies

South African Airways administrators hope to exit by month-end

The letter, dated March 18, said SAA's board of directors and management were working on a plan for the airline to resume flying.

Published 19 Mar, 2021 11:14am

Stocks

Indian shares edge up in volatile trade; Future Group firms slide

Among individual stocks, Future Group companies, including Future Retail and Future Consumer, dropped nearly 10% each.

Published 19 Mar, 2021 11:11am

Stocks

Nasdaq drops 3% on inflation fears, WTI oil loses 7.1%

The tech-rich Nasdaq Composite Index slid 3.0 percent to close at 13,116.17, while the broad-based S&P 500 lost 1.5 percent to end at 3,915.46.

Published 19 Mar, 2021 11:09am

Sports

Pogba downs Milan to send Man United into Europa League last eight

Milan had a slight advantage against 2017 winners United thanks to Simon Kjaer's stoppage-time away goal in the first leg at Old Trafford.

Published 19 Mar, 2021 11:05am

World

Argentines march to demand food aid

"There are a lot of people under the poverty line, even those who have formal work and those who have informal work," said Monica Sulio, leader of the Socialist Workers Movement.

Published 19 Mar, 2021 11:03am

Sports

Aussie Jones matches course record 61 to grab PGA lead

"I actually didn't know I made four in a row until I saw it on the scoreboard on 18," Jones said. "I didn't even think about it.

Published 19 Mar, 2021 11:02am

World

US accuses China of 'grandstanding' at Alaska summit

A senior US official criticized Beijing as having "arrived intent on grandstanding, focused on public theatrics and dramatics over substance" at the Alaska summit.

Published 19 Mar, 2021 11:00am

World

13 dead in ambush on Mexico police convoy: authorities

Security forces launched a search for the perpetrators of what the authorities denounced as a "cowardly" attack.

Published 19 Mar, 2021 10:59am

Technology

Successful test for NASA's giant Moon rocket

It has also been criticized as a "jobs program" for NASA's Marshall Space Flight Center in Alabama, as well as for its key contractors Boeing, Aerojet Rocketdyne and Northrop Grumman.

Published 19 Mar, 2021 10:57am

Sports

India's Rankireddy and Shetty knocked out of All England doubles

The Danes will now play French brothers Toma Junior Popov and Christo Popov in the quarterfinals.

Published 19 Mar, 2021 10:55am

World

Mexico announces new border restrictions to curb Covid

Mexico's southern border has been patrolled since 2019 by the National Guard to stop migrant caravans crossing over.

Published 19 Mar, 2021 10:53am

Sports

Benzema delivering for Real Madrid but still stuck in Ronaldo's shadow

There may have been a message in his answer about his current role too, how he has "the physique to play freely" and can still "play where the ball goes".

Published 19 Mar, 2021 10:51am

Sports

Tensions simmer behind scenes at high-flying Bayern Munich

Moenchengladbach, who have lost all seven games since it was confirmed Marco Rose will leave to coach Dortmund next season, can end their dire run at bottom side Schalke on Saturday.

Published 19 Mar, 2021 10:49am

World

US House passes immigration bills including pathway for 'Dreamers'

The other formalizes the legal status of migrant farmworkers -- who the White House notes are "living in the shadows and vulnerable to exploitation" -- and offers them an opportunity to earn citizenship.

Published 19 Mar, 2021 10:39am

Musharakah-based Rs3.1bn sukuk issued

KARACHI: Pakistan Mortgage Refinance Company (PMRC) has issued the first of its kind Musharakah based Sukuk of Rs ...

Updated 19 Mar, 2021 10:46am

Pakistan

Air Marshal Zaheer Babar appointed as new air chief

Outgoing PAF chief Mujahid Anwar Khan pinned badges on the new air chief and formally handed over the command by presenting the traditional scroll to Zaheer
In recognition of his outstanding services, Zaheer has been awarded with Tamgha-i-Imtiaz (Military), Sitara-i-Imtiaz (Military) and Hilal-i-Imtiaz (Military)

Published 19 Mar, 2021 10:41am

Sports

Ireland v England Six Nations teams

Replacements: Ronan Kelleher, Cian Healy, Andrew Porter, Ryan Baird.

Published 19 Mar, 2021 10:37am

Energy

Energy giant Eni offers to pay $14mn to settle Congo graft inquiry

The news comes the day after an Italian court cleared Eni and Shell of charges related to a major oil exploration deal in Nigeria in which $1.1 billion allegedly ended up in the pockets of corrupt politicians and middlemen.

Published 19 Mar, 2021 10:34am

World

North Korea cuts ties with Malaysia over US extradition

North Korea's foreign ministry announced the "total severance of the diplomatic relations with Malaysia", according to state news agency KCNA, saying the citizen being extradited had been involved in "legitimate" trading activities in Singapore.

Published 19 Mar, 2021 10:32am

World

Atlanta shootings expose fear in Asian-American community

Chi-Chi Zhang, an Asian-American woman living in Cambridge, Massachusetts, described discussing race and hate crimes with her two young daughters, aged two and four.

Published 19 Mar, 2021 10:26am

World

Trial for Canadian detained in China to begin

Beijing has insisted the detention of the two Canadians is lawful, while calling Meng's case "a purely political incident".

Published 19 Mar, 2021 10:24am

Sports

Ibrahimovic's Milan turn to Serie A title chase after Europa exit

For Milan, as the other Italian teams, it was another bruising week of European football.

Published 19 Mar, 2021 10:22am

Sports

Beal, Westbrook lead Wizards past Jazz, Knicks edge

Along with 35 points he added 15 rebounds and 13 assists.

Published 19 Mar, 2021 10:19am

World

Judge rejects detention request for Peru ex-president Vizcarra

He pledged to turn his attention to the upcoming April 11 general election, in which he is running as a legislator.

Published 19 Mar, 2021 10:16am

Stocks

Asia stocks spooked by spike in yields, oil sell-off

For now, the dollar index had bounced to 91.855, from a low of 91.30 to leave it slightly firmer for the week.

Published 19 Mar, 2021 10:13am

Commodities

Corn, soy slump in broad-based commodities selloff, led by crude oil

Grain markets have been under pressure this week as crop weather improved in South America following recent dryness in Argentina and excessive rains in key parts of Brazil.

Published 19 Mar, 2021 10:12am

Commodities

Soybeans set for second weekly loss on Argentine rains

Consultancy Strategie Grains on Thursday lowered its monthly forecast of soft wheat exports from the European Union and Britain in the 2020/21 season by 900,000 tonnes to 25.2 million to take account of a drop in demand, notably from China.

Published 19 Mar, 2021 10:08am

Bullion Rate

Gold extends losses as US bond yields firm, dollar rebounds

The European Central Bank may need some time before the recently agreed acceleration in the pace of money printing, ECB President Christine Lagarde said on Thursday.

Published 19 Mar, 2021 10:06am

Forex

China's yuan weakens on dollar strength, Sino-US tensions

The People's Bank of China (PBOC) set the midpoint rate at 6.5098 per dollar prior to the market open, 239 pips weaker than the previous fix of 6.4859.

Published 19 Mar, 2021 10:04am

Forex

Canadian dollar slides by most in 3 weeks as bond yields rise

It touched its strongest intraday level since February 2018 at 1.2365.

Published 19 Mar, 2021 10:02am

Forex

US dollar rebounds from post-Fed weakness, lifted by higher yields

In the cryptocurrency market, bitcoin fell 1.21 to $58,188.21, after earlier hitting $60,000 again.

Published 19 Mar, 2021 10:00am

Forex

Dollar strengthens amid higher US yields on Fed's lower-for-longer mantra

In the cryptocurrency market, bitcoin weakened to around $56,703 in early Asian trading, seesawing after breifly topping $60,000 again overnight.

Published 19 Mar, 2021 09:54am

Stocks

Australian shares drop on energy, mining losses as US bond yields jump

Healthcare stocks also fell, with drug developer CSL Ltd and medical device maker Resmed Inc falling 1.3% and 2.9%, respectively.

Published 19 Mar, 2021 09:52am

Stocks

Australia shares set to open lower as US bond yields climb

New Zealand's benchmark S&P/NZX 50 index rose 0.2% in early trade.

Published 19 Mar, 2021 09:51am

Stocks

Taiwan, Philippine lead Asia share declines as US yields push higher

The world's two largest economies have already levelled sharp rebukes over each other's stance on key issues.

Published 19 Mar, 2021 09:48am

Technology

Huawei exec accuses Canada of destroying evidence in extradition case

Canada denies it breached Meng's rights. Government lawyers have called on the judge to throw out the allegations, which they said were "supported only by speculation and innuendo," and proceed to extradition.

Published 19 Mar, 2021 09:46am

Stocks

Tokyo stocks open lower with eyes on BoJ

The headline figure did not prompt a strong market reaction.

Published 19 Mar, 2021 09:44am

Stocks

Hong Kong shares sharply down at open

The Hang Seng Index fell 0.84 percent, or 247.24 points, to 29,158.48.

Published 19 Mar, 2021 09:42am

Stocks

Asia markets retreat as rate fears trump recovery optimism

National Australia Bank's Rodrigo Catril said there were also concerns about rising tensions between the US and major producer Russia.

Published 19 Mar, 2021 09:40am

Technology

Social networks tuning into talk

Since its launch nearly a year ago, Clubhouse has been letting users host talks on topics of their choosing in virtual "rooms" that other members of the service are free to enter.

Published 19 Mar, 2021 09:37am

Stocks

Hong Kong stocks well down at lunch

The Hang Seng Index dropped 1.55 percent, or 454.89 points, to 28,950.83.

Published 19 Mar, 2021 09:35am

World

Military helicopter was shot down, says Afghan president

KABUL: At least nine people were killed when a military helicopter was shot down in central Afghanistan, President...

Updated 19 Mar, 2021 09:35am

World

Involved in Nord Stream 2: US warns entities to ‘immediately abandon work’

WASHINGTON: US Secretary of State Antony Blinken called Thursday for "any entity involved" in the controversial Nord...

Updated 19 Mar, 2021 09:35am

World

BBC to shift 400 jobs out of London in major shake-up

LONDON: The BBC announced Thursday it will shift around 400 roles out of London as part of its "biggest...

Updated 19 Mar, 2021 09:35am

World

From locusts to fires, agriculture faces growing threats: UN

PARIS: The increasing frequency and severity of natural disasters ranging from massive fires to locust invasions is...

Updated 19 Mar, 2021 09:35am

World

Tanzania mourns divisive president’s death

DAR ES SALAAM: Tanzania was in mourning Thursday over the sudden death of President John Magufuli, an authoritarian...

Updated 19 Mar, 2021 09:35am

World

Putin invites Biden to virtual talks

MOSCOW: Russian President Vladimir Putin on Thursday called on US President Joe Biden to hold virtual talks after ...

Updated 19 Mar, 2021 09:35am

World

North Korea says will ignore US while ‘hostile policy’ in place

SEOUL: North Korea accused the new US administration of adopting “lunatic theory” Thursday, ruling out any...

Updated 19 Mar, 2021 09:35am

World

EU watchdog says AstraZeneca shot ‘safe and effective’

AMSTERDAM: The EU’s drug regulator said Thursday the AstraZeneca coronavirus vaccine was “safe and effective”...

Updated 19 Mar, 2021 09:35am

World

China summons tech giants over internet security

BEIJING: Chinese authorities on Thursday summoned 11 tech companies including Tencent, Alibaba, and TikTok parent...

Updated 19 Mar, 2021 09:34am

World

Spain legalises euthanasia, assisted suicide

MADRID: Parliament voted through a law legalising euthanasia on Thursday making Spain one of few nations to allow...

Updated 19 Mar, 2021 09:34am

Pakistan

Hearings against Sharif’s family, Saad Rafique put off

LAHORE: Hearings of money laundering and Paragon City references against the family of Leader of Opposition in...

Updated 19 Mar, 2021 09:34am

Pakistan

Verdict in Motorway gang-rape case tomorrow

LAHORE: An anti-terrorism court on Thursday reserved its verdict in the motorway gang-rape case against Abid Malhi...

Updated 19 Mar, 2021 09:34am

Pakistan

Promulgation of the Tax Laws Ordinance: Govt seeks approval of federal cabinet

ISLAMABAD: The government is seeking approval of the Federal Cabinet for promulgation of the Tax Laws (Second...

Updated 19 Mar, 2021 09:34am

Pakistan

TCL collaborates with Daraz

LAHORE: TCL Pakistan, Pakistan’s No.1 Led TV brand, join hands with Daraz, the leading online retailer, to deliver...

Updated 19 Mar, 2021 09:34am

Pakistan

NIC at LUMS opens applications for innovators

LAHORE: The National Incubation Centre (NIC) at LUMS, Lahore is ready to induct the next group of passionate...

Updated 19 Mar, 2021 09:34am

Pakistan

Gwadar Port: Cost of grid station, transmission line project goes up

KARACHI: The cost of “construction of 132Kv (AIS) Grid Station Deep Sea Port (Gwadar) and allied 132Kv D/C...

Updated 19 Mar, 2021 09:34am

Pakistan

Sewage in Korangi Industrial Area

KARACHI: Korangi Association of Trade and Industry (KATI) president Saleem-uz-Zaman has urged the Karachi Water and...

Updated 19 Mar, 2021 09:34am

Pakistan

Rain, thunderstorm expected in Islamabad

KARACHI: Rain - thunderstorm is expected in Islamabad on March 23 during the morning hours, the Met office said on...

Updated 19 Mar, 2021 09:34am

Pakistan

Three alleged street criminals held

KARACHI: Karachi police arrested three alleged street criminals during a raid conducted at Gulshan-e-Hadeed Link ...

Updated 19 Mar, 2021 09:34am

Pakistan

PSO launches e-procurement through SAP Ariba

KARACHI: The nation’s most progressive energy company – Pakistan State Oil (PSO) has once again taken the lead ...

Updated 19 Mar, 2021 09:34am

Pakistan

Centre failed to achieve revenue targets, says CM

KARACHI: Under the constitution, the provinces have assigned the task of tax collection to the federal government ...

Updated 19 Mar, 2021 09:34am

Pakistan

Cleanliness, water supply, drainage: Minister expresses displeasure over issues of Hyderabad

HYDERABAD: Sindh Minister for Information and Local Government Syed Nasir Hussain Shah expressing his ...

Updated 19 Mar, 2021 09:34am

Pakistan

Dawlance to introduce its products at DarazMall

KARACHI: Dawlance the #1 home-appliances brand in Pakistan, a subsidiary of Arcelik – the second largest white...

Updated 19 Mar, 2021 09:34am

Pakistan

Dual-nationality case: Vawda asks ECP for hanging ‘if proven guilty’

ISLAMABAD: Federal Minister for Water Resources Faisal Vawda Thursday told the Election Commission of Pakistan (ECP)...

Updated 19 Mar, 2021 09:34am

Pakistan

NSU’s mobile admission drive inaugurated

ISLAMABAD: Wajiha Qamar, the parliamentary secretary for Ministry of Federal Education & Professional Training,...

Updated 19 Mar, 2021 09:34am

Pakistan

Hafeez lauds ICAP’s services

ISLAMABAD: President Institute of Chartered Accountants (ICAP) Iftikhar Taj, Vice President Ashfaq Tola, Vice...

Updated 19 Mar, 2021 09:34am

Pakistan

Meeting of EDF board of administrators held

ISLAMABAD: Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood chaired the 19th Finance...

Updated 19 Mar, 2021 09:34am

Pakistan

Minister reviews RPSEZ progress

ISLAMABAD: The work carried out by Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) ...

Updated 19 Mar, 2021 09:34am

World

Myanmar junta slaps Suu Kyi with new charges

YANGON: Myanmar's ousted civilian leader Aung San Suu Kyi faces fresh corruption charges from the ruling junta that...

Updated 19 Mar, 2021 09:34am

Pakistan

Electoral process: Conduct of Senate elections raises serious question mark: Speaker

ISLAMABAD: Speaker National Assembly Asad Qaiser said on Thursday that recent conduct of Senate elections raised a...

Updated 19 Mar, 2021 09:34am

Pakistan

Transfers, postings of senior police officers

KARACHI: The Services, General Administration and Coordination Department Government of Sindh on Thursday ordered...

Updated 19 Mar, 2021 09:34am

Pakistan

NAB summons Maryam in ‘illegal’ land acquisition case on 26th

LAHORE: The National Accountability Bureau (NAB) has summoned Pakistan Muslim League-Nawaz (PML-N) Vice President...

Updated 19 Mar, 2021 09:33am

Pakistan

Punjab reports 1824 fresh coronavirus cases, 43 fatalities

LAHORE: Out of 17,127 COVID-19 tests conducted during the last 24 hours across the province, 1824 fresh virus cases...

Updated 19 Mar, 2021 09:33am

Pakistan

Gate-I of Diplomatic Enclave: Man arrested over firing

ISLAMABAD: The capital police on Thursday arrested a man, who opened fire in air near gate-I of diplomatic enclave,...

Updated 19 Mar, 2021 09:33am

Pakistan

Dr Aafia Siddiqui: MoFA submits reply before IHC

ISLAMABAD: The Ministry of Foreign Affairs on Thursday submitted a reply before Islamabad High Court (IHC) regarding...

Updated 19 Mar, 2021 09:33am

Pakistan

Meezan Bank, Chapal Builders enter into strategic alliance

KARACHI: Meezan Bank, the best bank in Pakistan has recently signed a Memorandum of Understanding with Chapal...

Updated 19 Mar, 2021 09:33am

Pakistan

Nawaz contacts Fazl: Anti-govt drive to continue even if PPP parts ways with PDM

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif Thursday contacted Jamiat Ulema-e-Islam-Fazl...

Updated 19 Mar, 2021 09:33am

Pakistan

Duties/taxes of three luxury vehicles: Witness produces documents about assessment

ISLAMABAD: A prosecution witness on Thursday produced documents regarding assessment of duties/taxes of three luxury...

Updated 19 Mar, 2021 09:33am

Pakistan

Egg thrown at Safdar

PESHAWAR: An unidentified person on Thursday threw egg towards Capt Muhammad Safdar (retd) outside the Peshawar High...

Updated 19 Mar, 2021 09:33am

Pakistan

Slot of opposition leader in Senate: PPP wants its own candidate

ISLAMABAD: Pakistan People’s Party (PPP) wants its own candidate for the slot of opposition leader in the Senate,...

Updated 19 Mar, 2021 09:33am

Pakistan

Fresh elections should be held, says Fazl

ISLAMABAD,: Pakistan Democratic Movement (PDM) chief Maulana Fazlur Rehman on Thursday asked Prime Minister Imran...

Updated 19 Mar, 2021 09:33am

Pakistan

Foreign funding case: SC grants leave to appeal to PM’s petition against ECP

ISLAMABAD: The apex court granted leave to appeal to the petition of Prime Minister Imran Khan against Election...

Updated 19 Mar, 2021 09:33am

US joined by Russia, China, Pakistan in call for Afghan ceasefire

MOSCOW: The United States was joined by Russia, China and Pakistan on Thursday in calling on Afghanistan's warring...

Updated 19 Mar, 2021 09:33am

Q2FY21: Digital financial transactions post strong growth

KARACHI: Digital financial transactions in the country showed strong growth during the second quarter of this fiscal...

Updated 19 Mar, 2021 09:33am

Management contracts for 8 DISCOs: CCoP allows hiring of transaction adviser

ISLAMABAD: The Cabinet Committee on Privatization (CCoP) Thursday allowed hiring of a transaction adviser for award...

Updated 19 Mar, 2021 09:33am

Dog bite cases: SHC suspends Sindh PA membership of Faryal, Malik

SUKKUR: The Sindh High Court (SHC) Sukkur Bench on Thursday suspended the membership of two of the Pakistan...

Updated 19 Mar, 2021 09:33am

Qureshi invites Kuwaiti investment to CPEC SEZs

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi on Thursday invited Kuwaiti investment in China-Pakistan Economic...

Updated 19 Mar, 2021 09:33am

KP plans to build pilot crypto currency mining farms

PESHAWAR: The Khyber Pakhtunkhwa province is planning to build two hydroelectric-powered pilot "mining farms" to...

Updated 19 Mar, 2021 09:33am

Ambassador of Qatar meets FBR chairman

ISLAMABAD: Ambassador of Qatar in Pakistan Sheikh Saoud Abdul Rahman Al-Thani called on Chairman FBR Muhammad Javed...

Updated 19 Mar, 2021 09:33am

Privately-imported Covid shots arrive: govt backtracks on price decision

ISLAMABAD: Government has reversed its decision to allow uncapped prices for Covid vaccines imported by private...

Updated 19 Mar, 2021 09:33am

PM tells SBP governor: Make housing finance easier, not harder

ISLAMABAD: Prime Minister Imran Khan Thursday asked governor State Bank of Pakistan (SBP) Dr Reza Baqir to ensure...

Updated 19 Mar, 2021 09:33am

Bajwa says ready to bury hatchet with India for peace

ISLAMABAD: Chief of the Army Staff (COAS) Gen Qamar Javed Bajwa on Thursday asserted that stable Indo-Pakistan...

Updated 19 Mar, 2021 09:32am

Japan will be urged to restore yen-based concessional loans

ISLAMABAD: Pakistan is all set to request Japan to restore yen-based concessional loans and tariff relief on textile...

Updated 19 Mar, 2021 09:32am

Major wheat deficit looming

ISLAMABAD: Pakistan is likely to face three million tons wheat deficit next year as the country’s estimated...

Updated 19 Mar, 2021 09:32am

Justice Isa’s live broadcast plea: Verdict reserved

ISLAMABAD: The Supreme Court on Thursday reserved its judgment on Justice Qazi Faez Isa’s application for live...

Updated 19 Mar, 2021 09:32am

Cotton import from India in sight

ISLAMABAD: Com-merce Ministry said on Thursday that summary on import of cotton from India is under process. This...

Updated 19 Mar, 2021 09:32am

BR Research

Interview with Omar Saeed, CEO Service LongMarch Tyres Limited

“Pakistan’s largest footwear exporter decides to go public.” Omar Saeed is the CEO of Service LongMarch Tyres...

Published 19 Mar, 2021 07:45am

BR Research

Mobile phones and digital divide

As expected, mobile phone imports have continued to retain their growth spree. In the Jul-Feb period of this fiscal,...

Published 19 Mar, 2021 07:40am

BR Research

Tariff adjustments keep coming

Things seem to be moving in the power sector. Another thing if it is only about tariffs, adjustments and revenues....

Published 19 Mar, 2021 07:35am

BR Research

Cotton imports: highest ever, but what’s next?

Monthly report card of cotton imports is out, and the spinning sector seems to be faring remarkably well in...

Published 19 Mar, 2021 07:30am

BR Research

Currency diaries

The appreciation of PKR against USD has continued for the past few weeks (since the start of Feb 21). Prior to that...

Published 19 Mar, 2021 07:25am

Opinion

Simplification of taxes for growth — I

The biggest challenge on tax mobilisation front faced by Federal Board of Revenue (FBR) is bridging monstrous tax ...