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Archive - 2021-03-24
UK stands pat on Brexit swaps trading as EU banks hurt
Europe

UK stands pat on Brexit swaps trading as EU banks hurt

  • The FCA decided in December it would allow UK market participants to trade derivatives on platforms in the bloc to avoid a rupture in EU business, even though the EU has banned EU market participants from using London platforms.
  • As flagged by Reuters earlier this month, the FCA has made no change to its stance.
Published 24 Mar, 2021 10:00pm
Canada's lagging COVID-19 vaccine campaign set to ramp up as virus variants spread
USA

Canada's lagging COVID-19 vaccine campaign set to ramp up as virus variants spread

  • Canada has lagged other rich countries in inoculations even though it ordered enough doses to vaccinate the population five times over late last year.
  • Shipments of 4.7 million doses are expected this week and next - 2.4 million from Pfizer Inc, 846,000 from Moderna Inc and a 1.5 million-dose loan of AstraZeneca's vaccine from the United States, according to federal forecasts and recent announcements.
Published 24 Mar, 2021 09:57pm
Raw sugar edges higher while arabica coffee also gains
Commodities

Raw sugar edges higher while arabica coffee also gains

  • May raw sugar rose by 0.02 cents, or 0.1%, to 15.45 cents per lb.
  • May white sugar rose by $4.40, or 1%, to $444.90 a tonne.
  • May arabica coffee rose by 0.15 cents, or 0.1%, to $1.2775 per lb after dipping to a two-week low of $1.2650.
Published 24 Mar, 2021 09:54pm
US sanction fears send Russian rouble to 2021 low, batter OFZ bonds
Forex

US sanction fears send Russian rouble to 2021 low, batter OFZ bonds

  • Russian assets have been under pressure since last week as markets prepared for a new round of US sanctions over alleged election meddling, which Moscow has denied.
  • The rouble gained 0.2% to 90.30 against the euro , hovering away from the 87 mark seen before the threat of new sanctions intensified.
Published 24 Mar, 2021 09:48pm
RWE to invest $4.1 billion in flagship UK offshore wind park
Companies

RWE to invest $4.1 billion in flagship UK offshore wind park

  • The 1.4 gigawatt project, to be located 195 kilometres from Britain's North East coast, represents RWE's largest offshore farm and is expected to be completed by the fourth quarter of 2026.
  • Successfully developing a project of this size once again demonstrates our expertise and positive track-record for delivering cost effective, innovative offshore wind energy around the globe.
Published 24 Mar, 2021 09:43pm
Sudan to receive first batch of Sinopharm vaccines
Africa

Sudan to receive first batch of Sinopharm vaccines

  • Sudan became the first country in the Middle East and North Africa region to receive vaccine doses through the COVAX facility this month when 828,000 doses of the shot produced by AstraZeneca arrived in the East African country.
Published 24 Mar, 2021 09:38pm
Tesla urges court to reinstate hike in emissions penalties
Companies

Tesla urges court to reinstate hike in emissions penalties

  • Tesla told the Second Circuit US Court of Appeals the Trump action was "unlawful" and "diminishes the value of performance-based incentives that electric vehicle manufacturers, such as Tesla, accrue under the standards".
  • Tesla, whose electric cars produce zero emissions, sells credits to other automakers to reduce their burden of complying with the regulations, and argues that the Trump rule change makes those credits less valuable.
Published 24 Mar, 2021 09:32pm
German 10-year bond yields hit 5-week low, strong PMI stems fall
Financial

German 10-year bond yields hit 5-week low, strong PMI stems fall

  • Still, IHS Markit's flash composite PMI, a closely-tracked economic indicator, bounced above the 50 mark separating growth from contraction to 52.5 in March compared to February's 48.8, its highest since late 2018.
  • Signs of a pick-up in the pace of the European Central Bank's bond purchases have also supported bond markets.
Published 24 Mar, 2021 09:22pm
US oil activity jumps as executives remain wary of OPEC, Biden: survey
USA

US oil activity jumps as executives remain wary of OPEC, Biden: survey

  • "While the price increases have been welcome news, OPEC+ is a sword of Damocles: if US operators raise capital expenditures, OPEC+ will open its taps and flood the market," one executive said. "There is a tense detente currently."
  • "I believe that it is their goal to effectively shut down our industry, and they will pursue that end with great energy," one executive said.
Published 24 Mar, 2021 09:22pm
South Africa's rand firms after CPI data, stocks down
Forex

South Africa's rand firms after CPI data, stocks down

  • The currency rallied to a session best of 14.7550 earlier after Statistics South Africa said consumer inflation slowed to 2.9% in February, its lowest in eight months, dipping below the central bank's target range just a day before the regulator decides on lending rates.
  • "We think that the repo rate will remain unchanged at 3.50% for longer than most currently anticipate," said Virág Fórizs, Africa economist at Capital Economics.
Published 24 Mar, 2021 09:14pm
Sinograin sees China 2020/21 cotton output at 5.95mn tones
Commodities

Sinograin sees China 2020/21 cotton output at 5.95mn tones

  • The number is slightly higher than a 5.91 million tonnes forecast for the September-August crop year from China's agriculture ministry earlier this month and up from an estimated 5.8 million tonnes in 2019/20.
  • Top cotton consumer China has "expanded its import channels and strengthened cooperation with important cotton-producing countries such as Brazil and India to ensure stability of the domestic cotton supply chain," it added.
Published 24 Mar, 2021 09:14pm
AstraZeneca likely to release new statement on its COVID-19 vaccine
Europe

AstraZeneca likely to release new statement on its COVID-19 vaccine

  • AstraZeneca said results it published on Monday in which the vaccine had demonstrated 79% efficacy were based on an interim analysis of data through Feb. 17, and it would now "immediately engage" with the independent panel monitoring the trial to share its full analysis.
  • AstraZeneca will publish up-to-date results from its major US COVID-19 vaccine trial within 48 hours.
Updated 24 Mar, 2021 09:14pm
Stocks dip, oil rebounds: 'The mood is fairly fragile'
Stocks

Stocks dip, oil rebounds: 'The mood is fairly fragile'

  • European shares dipped to near two-week lows, while oil prices bounced back from steep losses on Tuesday after a ship ran aground in the Suez Canal, though traffic was expected to resume soon.
  • The mood is fairly fragile as all the optimism that characterised the push higher over the past two or three weeks in shares is starting to bleed away on talk of a European third wave and extensions of pandemic lockdowns in Germany and France.
Published 24 Mar, 2021 09:08pm
Man United freeze ticket prices for 10th straight season
Sports

Man United freeze ticket prices for 10th straight season

  • Crowds of up to 10,000 could be allowed back into English soccer venues from mid-May under a plan outlined by the British government last month to ease COVID-19 lockdown restrictions in England.
  • A special provision will be made for large outdoor, seated venues, so that they can open their doors to up to 10,000 people or 25% of the capacity, whichever is lower.
Published 24 Mar, 2021 08:31pm
Dollar edges back from four-month high as UK, EU PMIs calm nerves
Forex

Dollar edges back from four-month high as UK, EU PMIs calm nerves

  • Euro zone business activity unexpectedly grew this month, a preliminary survey showed, but with much of Europe suffering a third wave of coronavirus infections and renewed lockdown measures, that may not last through April.
  • The PMI saw the dollar index pull back from a four-month high of 92.608 hit in early London trade, trading at the 92.454 mark around midday.
Published 24 Mar, 2021 08:23pm
Canada Feb factory sales seen falling 1.0pc
USA

Canada Feb factory sales seen falling 1.0pc

  • Factory sales gained 3.1% in January. Statscan said the estimate had been calculated based on responses received from 59.0% of companies surveyed.
  • The average final response rate for the survey over the past 12 months has been 90.4%, it added.
Published 24 Mar, 2021 08:29pm
Oil rises as Suez Canal ship runs aground, demand fears weigh
Energy

Oil rises as Suez Canal ship runs aground, demand fears weigh

  • API says US crude inventories rise 2.9 million barrels.
  • Germany's Merkel says drops plan for stricter Easter shutdown.
  • Sentiment still bearish after other pandemic curbs in Europe.
  • Ship in blocked convoy in Suez Canal on move- source and witness.
Published 24 Mar, 2021 08:20pm
Former FIFA president Blatter handed new ban over bonuses
Sports

Former FIFA president Blatter handed new ban over bonuses

  • Blatter's current ban from the game was due to expire in October but the latest ban, for ethics code violations, will take effect from that point.
  • The payments related primarily to the 2010 World Cup in South Africa and the 2014 World Cup in Brazil.
Published 24 Mar, 2021 08:21pm
Bangladesh gets offers in tender to buy 50,000 tonnes rice
Commodities

Bangladesh gets offers in tender to buy 50,000 tonnes rice

  • Offers are still being considered and no purchase had yet been reported, they said. Three trading houses submitted offers, they said.
  • Trading house PK Agrilink was said to have offered $429.93 a tonne CIF liner out and KRBL offered $434.34 a tonne CIF liner out. Liner out prices involve ship unloading costs.
Published 24 Mar, 2021 08:12pm
GameStop tumbles as Reddit darling considers share sale
Stocks

GameStop tumbles as Reddit darling considers share sale

  • GameStop has surged nearly 900% so far this year and at the peak of the trading frenzy on Jan. 28 the shares had touched $483 a piece.
  • GameStop previously decided against the move as it was restricted under US financial regulations from selling shares because it had not yet updated investors on its earnings.
Published 24 Mar, 2021 08:13pm
Doha Bank expected to sell $500mn in five-year bonds
Money & Banking

Doha Bank expected to sell $500mn in five-year bonds

  • The spread was set at 150 basis points (bps) over mid-swaps, tightening 20 bps from initial guidance, the document from one of the banks on the deal showed.
  • ING, Barclays, Credit Suisse, Deutsche Bank, JPMorgan, Mizuho, MUFG and QNB Capital are arranging the deal, which is expected to launch later on Wednesday.
Published 24 Mar, 2021 07:59pm
GM further cuts production in North America due to global chip shortage
Companies

GM further cuts production in North America due to global chip shortage

  • The action was factored into GM's prior forecast that it could shave up to $2 billion off this year's profit, spokesman David Barnas said.
  • Semiconductors are used extensively in cars, including to monitor engine performance, manage steering or automatic windows, and in sensors used in parking and entertainment systems.
Published 24 Mar, 2021 07:48pm
Mexico inflation quickens more than expected to nearly 2-year high
USA

Mexico inflation quickens more than expected to nearly 2-year high

  • The national statistics agency (INEGI) said consumer price inflation quickened to 4.12% during the first two weeks of March, beating the final consensus forecast of a Reuters poll of analysts for a headline reading of 3.91%.
  • "Overall, this data release is probably the final nail in the coffin for Banxico's easing cycle. We expect it to keep the policy rate on hold at 4.00% at tomorrow's meeting," said Nikhil Sanghani, an analyst at Capital Economics.
Published 24 Mar, 2021 07:44pm
Myanmar junta's civilian rivals promise justice for Rohingya
South Asia

Myanmar junta's civilian rivals promise justice for Rohingya

  • "We will not rest until we bring these military generals into justices for the war crimes, atrocities and the crimes against humanity they have committed against the great and brave people of Myanmar," Dr Sasa said in a Facebook post.
  • At least 730,000 people from Myanmar's Rohingya Muslim minority fled to neighbouring Bangladesh in 2017 after an army crackdown that United Nations' investigators said was carried out with genocidal intent.
Published 24 Mar, 2021 07:36pm
AstraZeneca jabs in Italy plant bound for Belgium
Europe

AstraZeneca jabs in Italy plant bound for Belgium

  • On Saturday the EU Commission had asked Italy's prime minister to inspect some batches of vaccines at a production plant in Anagni, south east of the capital Rome, the official added.
  • The checks were carried out by the Italy's Carabinieri military police between Saturday and Sunday, the official said.
Published 24 Mar, 2021 07:33pm
Wheat down 6-8 cents, corn down 1-3 cents, soy up 2-4 cents
Commodities

Wheat down 6-8 cents, corn down 1-3 cents, soy up 2-4 cents

  • Profit-taking expected after most-active soft red winter wheat contract jumped 1.2% on Tuesday, its biggest rally in two weeks.
  • CBOT May soft red winter wheat futures contract dropped below its five-day and 100-day moving averages during the overnight trading session.
Published 24 Mar, 2021 07:28pm
Biden to meet with immigration advisers as delegation visits Texas facility
USA

Biden to meet with immigration advisers as delegation visits Texas facility

  • The officials, along with several members of Congress, will travel to a refugee resettlement center in Carrizo Springs, Texas, the White House said in a statement, adding that it would also allow limited media coverage of the visit.
  • US Vice President Kamala Harris, who will join Biden at the White House meeting on Wednesday, on Wednesday acknowledged the overcrowding and processing delays, but said there was no quick fix.
Published 24 Mar, 2021 07:26pm
Turkey tells US at NATO that Russian defence purchase is 'done deal'
Europe

Turkey tells US at NATO that Russian defence purchase is 'done deal'

  • Ankara and Washington have been at odds over issues including Syria policy, human rights and the S-400 air defence acquisition, over which the United States has sanctioned Turkey and removed it from its F-35 fighter jet programme.
  • "On the S-400s, we reminded them once again why Turkey had to buy them, and repeated that Turkey had bought them and this is a done deal," Cavusoglu told.
Published 24 Mar, 2021 07:23pm
Mussolini's great-grandson pens professional contract with Lazio
Sports

Mussolini's great-grandson pens professional contract with Lazio

  • Romano Floriani Mussolini, 18, was called up to the Roman club's Under-19 team in February and has featured in four of their last five matches, earning a three-year deal.
  • "Thinking back to where I started, I'm very happy to have signed my first professional contract with Lazio, and to spend another three years in this shirt," he wrote.
Published 24 Mar, 2021 07:19pm
Vietnam seeks to diversify COVID-19 vaccine sources amid supply issues
South Asia

Vietnam seeks to diversify COVID-19 vaccine sources amid supply issues

  • "COVID-19 vaccine supplies for Vietnam have been impacted by the complicated developments of the coronavirus pandemic in the world," the government said in a statement.
  • Vietnam's vaccination campaign, which was launched on March 8, has relied solely on the batch of 117,600 doses of the AstraZeneca vaccine it received last month.
Published 24 Mar, 2021 07:14pm
COVID-19 claimed 1,983 lives in IIOJK so far
Pakistan

COVID-19 claimed 1,983 lives in IIOJK so far

  • Some 144,7291 persons were enlisted for observation, including 29,110 in quarantine at facilities operated by the government, 1,410 in isolation and 124,739 in home surveillance.
Published 24 Mar, 2021 07:17pm
ByteDance hires Xiaomi executive as CFO in a step towards IPO
Companies

ByteDance hires Xiaomi executive as CFO in a step towards IPO

  • ByteDance has also been looking at a listing for its non-China business, which includes TikTok that is not available in China, in Europe or the United States.
  • Chinese smartphone maker Xiaomi said earlier on Wednesday in a filing to the Hong Kong Exchange that Chew had resigned.
Published 24 Mar, 2021 07:12pm
Most Gulf stocks ease on Europe lockdowns, US tax hike fears
Stocks

Most Gulf stocks ease on Europe lockdowns, US tax hike fears

  • The concerns of a third COVID-19 wave in Europe is weighing down on demand expectations thus negatively affecting energy prices and oil prices which are particularly sensitive in the Gulf region. Saudi Arabia's benchmark index fell 0.3%, pressured by a 4.2% fall in Riyad Bank, which went ex-dividend.
Published 24 Mar, 2021 07:04pm
Lebanon's Hezbollah parliamentary bloc urges cabinet formation
Middle East

Lebanon's Hezbollah parliamentary bloc urges cabinet formation

  • The group also said Lebanon needed transparency and cooperation between its leaders and to form a government that brings the most confidence from parliament.
  • "The government that has the most confidence from parliament is the government that can be depended on," the bloc said in a statement.
Published 24 Mar, 2021 07:02pm
Coronavirus kills 13 more persons in KP
Pakistan

Coronavirus kills 13 more persons in KP

  • The report said that a total of 72948 people have recovered from the infection as 448 more patients gained recovery from the infection during the same period.
Published 24 Mar, 2021 07:02pm
Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey
Europe

Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey

  • EU leaders are set at a summit this week to spell out its proposed offer of closer economic links, mixed with threats if Ankara moves against the bloc's interests, according to a draft statement seen by Reuters.
  • We agreed with the (Cypriot) President that at tomorrow 's European Council our two countries, as well as the union as a whole, must insist on the credible implementation of the dual track approach.
Published 24 Mar, 2021 06:55pm
Lebanon's caretaker PM: activating resigned cabinet is up to parliament
Middle East

Lebanon's caretaker PM: activating resigned cabinet is up to parliament

  • Diab's cabinet has served in a caretaker capacity since quitting last August over the huge Beirut port blast that killed 200 people and compounded the country's financial collapse.
  • In his statement on Wednesday, Diab said the political deadlock spurred calls to activate his cabinet but that the question of whether the constitution allows it was up to the parliament.
Published 24 Mar, 2021 06:53pm
Macquarie prepares gas pipeline Open Grid Europe for sale
Companies

Macquarie prepares gas pipeline Open Grid Europe for sale

  • Macquarie's European Infrastructure Fund 4 (MEIF4) is working with Macquarie Capital and UBS on the divestiture, the people said.
  • OGE was MEIF4's first investment, which was followed by acquisitions of gas grids in the Czech Republic and Italy, European wind farms and broadcasting towers as well as hydro power plants and utilities.
Published 24 Mar, 2021 06:50pm
Czech central bank holds rates steady as hike clues awaited
Money & Banking

Czech central bank holds rates steady as hike clues awaited

  • All analysts in a Reuters poll this week forecast the main two-week repo rate to stay at 0.25%, where the central bank has kept it since last May following a series of cuts when the coronavirus pandemic started.
  • The central European country has been one of the worst-hit by the latest waves of the pandemic and the central bank has warned of risks to longer-than-expected restrictions on retail and restaurants.
Published 24 Mar, 2021 06:42pm
More French people must work from home to tackle COVID
Europe

More French people must work from home to tackle COVID

  • Speaking after a cabinet meeting, government spokesman Gabriel Attal told reporters that the COVID-19 situation was worsening everywhere in the country.
  • He also said that the government may add three more regions to its list of COVID-19 high-risk zones which need careful monitoring and may need restrictive measures.
Published 24 Mar, 2021 06:29pm
How Mancini revived Italy after despair of 2018 World Cup failure
Football

How Mancini revived Italy after despair of 2018 World Cup failure

  • The four-time world champions' last attempt to reach the competition ended in a play-off defeat to Sweden in Nov.2017, their first failure to qualify in 60 years.
  • It resulted in the departures of manager Gian Piero Ventura and federation head Carlo Tavecchio, not to mention public fury and embarrassment at such a humiliating failure for an international football institution.
Updated 24 Mar, 2021 06:41pm
Ship in blocked convoy in Egypt's Suez Canal on move: report
World

Ship in blocked convoy in Egypt's Suez Canal on move: report

  • Port agent GAC said the stranded ship, Ever Given, had been partially refloated and moved alongside the canal bank.
  • Dozens of vessels were stuck, waiting for rescue boats to free the 400m-long (1,312ft) ship, which was knocked off course by strong winds.
Published 24 Mar, 2021 06:31pm
South African president to testify at corruption inquiry
Africa

South African president to testify at corruption inquiry

  • Zuma was ousted by the governing African National Congress (ANC) in February 2018, and his successor Ramaphosa has been battling to revive investor confidence dented by widespread corruption implicating senior politicians.
  • "The presidency wishes to confirm that president Cyril Ramaphosa will appear ... on April 22, 23, 28 and 29," a statement from his office said.
Published 24 Mar, 2021 06:06pm
TSB chair Meddings steps down after bank sale shelved
Money & Banking

TSB chair Meddings steps down after bank sale shelved

  • "Following Sabadell's announcement last week that no sale process will be initiated in the near future and with TSB performing well, this is the right time for Richard to step down," TSB said on Wednesday.
  • Meddings will stay on while the board searches for a successor, TSB said.
Published 24 Mar, 2021 06:02pm
Jordan tenders again to buy 120,000 tonnes feed barley
Commodities

Jordan tenders again to buy 120,000 tonnes feed barley

  • A new tender had been anticipated after Jordan made no purchase in its previous tender for 120,000 tonnes of barley on Tuesday in which only two trading companies participated. Jordan had also made no purchase in another barley tender on March 16.
  • Shipment in the new tender is sought in a series of possible combinations in 60,000 tonne consignments.
Published 24 Mar, 2021 05:50pm
Brazil's Dasa launches $905mn share offering
Stocks

Brazil's Dasa launches $905mn share offering

  • Dasa's share offering comes as Brazil's private healthcare sector is experiencing a dealmaking boom, while the country struggles to deal with the coronavirus crisis.
  • As shares liquidity is low, this deal is considered a re-IPO. The company set a price range between 64.90 reais and 84.50 reais per share. The price per share will be set on April 6.
Published 24 Mar, 2021 05:47pm
Irish COVID-19 data ‘worrying’ as reopening call looms: deputy PM
Europe

Irish COVID-19 data ‘worrying’ as reopening call looms: deputy PM

  • Ireland has been under strict lockdown since late December, which the government says will be gradually unwound over the coming months.
  • The head of Ireland's health service operator, Paul Reid, said on Wednesday that although the number of people in hospital or in need of critical care continued to fall, swabbing referrals were up 35% week-on-week on Monday and 42% on Tuesday.
Published 24 Mar, 2021 05:44pm
Tencent boss meets China antitrust officials as scrutiny widens
Technology

Tencent boss meets China antitrust officials as scrutiny widens

  • The meeting is the most concrete indication yet that China's unprecedented antitrust crackdown, which started late last year with billionaire Jack Ma's Alibaba business empire, could soon target other internet behemoths.
  • Tencent, whose WeChat messaging and payment mobile app is ubiquitous in China, is expected to be the next in line for sharper antitrust regulatory inquiries, said the three people.
Published 24 Mar, 2021 05:41pm
Czechs sell CZK 6bn of VAR/27 bonds
Financial

Czechs sell CZK 6bn of VAR/27 bonds

  • Wednesday's auction produced an average yield of 1.890 basis points below the 6-month Prague interbank offered rate (PRIBOR) of 0.43%. The bond has a 0.27% coupon.
  • The ministry has set the annual coupon as an average reference interest rate minus 10 basis points, and will reset it again in May 2021.
Published 24 Mar, 2021 05:39pm
EU shouldn't be 'useful idiot' in global vaccine battle: French official
Europe

EU shouldn't be 'useful idiot' in global vaccine battle: French official

  • "Europe shouldn't be a sort of useful idiot in the battle against the virus," the French presidential adviser told reporters ahead of a virtual EU summit on Thursday.
  • The regulation is aimed at making vaccine trade reciprocal and proportional so that other vaccine-making countries sell to Europe and the EU does not export much more than it imports, one EU official said.
Published 24 Mar, 2021 05:36pm
Brazil airline Gol increases offer to absorb Smiles
Companies

Brazil airline Gol increases offer to absorb Smiles

  • The new proposal offers 0.966 Gol share for each Smile share from a previous proposal of 0.825 share, increasing its offer by 17.1%, it said. Gol will pay Smile's shareholders in both cash and shares.
  • Gol added the new offer has the support of 25% of Smiles minority shareholders, the airline added.
Published 24 Mar, 2021 05:34pm
EU sharpens COVID vaccine export rules as third wave builds
Europe

EU sharpens COVID vaccine export rules as third wave builds

  • The move risks stoking post-Brexit tensions with London, which has warned Brussels against "vaccine nationalism".
  • The granting of export licences will be based on reciprocity and "proportionality" - the epidemiological situation, vaccination rate and access to vaccines in the destination country.
Published 24 Mar, 2021 05:31pm
Singapore expands COVID-19 vaccinations to younger age group
South Asia

Singapore expands COVID-19 vaccinations to younger age group

  • Residents aged 45 to 59 years can now register to receive vaccines, of which 1.1 million doses have so far been administered in Singapore, with 310,000 people having completed the full regimen, health minister Gan Kim Yong told a media briefing.
  • The trade and tourism reliant nation of 5.7 million people, a regional business centre, has recorded no new locally-transmitted coronavirus cases in the past two weeks and has managed to quickly control most of its outbreaks.
Published 24 Mar, 2021 05:28pm
Vienna and nearby regions to close non-essential shops over Easter
Europe

Vienna and nearby regions to close non-essential shops over Easter

  • Of Austria's nine provinces, those three are among the hardest-hit and have high levels of the more contagious British variant of the coronavirus, which has been causing severe cases faster and often required longer hospital stays.
  • Health Minister Rudolf Anschober has spoken of a "looming collapse" in eastern Austria's intensive-care wards.
Published 24 Mar, 2021 05:26pm
US won't force allies into ‘us-or-them’ choice on China, Blinken to say
USA

US won't force allies into ‘us-or-them’ choice on China, Blinken to say

  • "The United States won't force allies into an 'us-or-them' choice with China," Blinken, on his maiden voyage to Europe as Washington's top diplomat, will say at NATO headquarters.
  • "Countries can work with China where possible," he will say, noting that climate change was an area where cooperation was necessary.
Published 24 Mar, 2021 05:24pm
Palm reverses earlier losses on lower supply, better demand expectations
Commodities

Palm reverses earlier losses on lower supply, better demand expectations

  • The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange closed at 3,930 ringgit ($951.80) per tonne, unchanged from the previous session, after falling to as low as 3,862 ringgit earlier.
  • Oil prices edged higher as investors looked for bargains following the previous day's plunge, making palm a more attractive option for biodiesel feedstock.
Published 24 Mar, 2021 05:19pm
Freeport, Tsingshan finalising $2.8bn copper smelter next week
Companies

Freeport, Tsingshan finalising $2.8bn copper smelter next week

  • The smelter will have an input capacity of 2.4 million tonnes of copper concentrate and an output capacity of 600,000 tonnes, a slide presented by Luhut at a live broadcast on CNBC Indonesia showed.
  • Luhut said last month that the smelter will produce copper pipes and wires of which output can be worth $10 billion or more.
Published 24 Mar, 2021 05:14pm
Mitsui Mining to exit from copper mining, selling stake in Collahuasi mine
Companies

Mitsui Mining to exit from copper mining, selling stake in Collahuasi mine

  • Mitsui Mining and Mitsui & Co said last year they had agreed to sell their stakes in the Caserones copper mine in Chile to Japan's JX Nippon Mining & Metals Corp, the metals unit of Eneos Holdings Inc.
  • We have decided to use our resources for other growing areas such as engineered materials and development of new products.
Published 24 Mar, 2021 05:06pm
Indian shares fall nearly 2pc as financials drag, coronavirus cases surge
Stocks

Indian shares fall nearly 2pc as financials drag, coronavirus cases surge

  • The blue-chip NSE Nifty 50 index closed down 1.8% at 14,549.40 and the benchmark S&P BSE Sensex dropped 1.7% to 49,180. Both the exchanges saw their worst one-day percentage fall since Feb. 26.
  • Indian market witnessed across-the-board selling amidst high volatility owing to weak global cues and spike in COVID-19 cases.
Published 24 Mar, 2021 05:01pm
You can now purchase a Tesla with Bitcoin
Technology

You can now purchase a Tesla with Bitcoin

  • “Tesla is using only internal and open source software and operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency,” added Musk.
Updated 24 Mar, 2021 02:56pm
Pakistan, India resume talks on Indus Water Treaty
Pakistan

Pakistan, India resume talks on Indus Water Treaty

  • Both countries are holding discussions to come up with solution to disputes under the Indus Water Treaty regarding the hydroelectric projects, Pakal Dul, and Lower Kalnai dams
  • The treaty specifies that the waters of three eastern rivers namely Ravi, Beas and Sutlej, had been reserved for India whereas western rivers, namely Indus, Chenab and Jhelum, are for Pakistan
Published 24 Mar, 2021 02:39pm
Schools to remain open in Sindh: Saeed Ghani
Pakistan

Schools to remain open in Sindh: Saeed Ghani

  • "The situation [of the coronavirus] in Sindh and Balochistan at the moment is under control," said Ghani.
  • He said the coronavirus positivity ratio in Sindh on Tuesday was 2.6%, which was not high.
Published 24 Mar, 2021 02:51pm
European stocks drop at open
Stocks

European stocks drop at open

  • Investor fears are growing over another deadly wave of the Covid-19 pandemic, adding to concerns over a stimulus-fuelled inflation spike.
Published 24 Mar, 2021 02:42pm
Hong Kong stocks suffer more losses
Stocks

Hong Kong stocks suffer more losses

  • The Hang Seng Index fell 2.03 percent, or 579.24 points, to 27,918.14 -- putting it in a correction after falling more than 10 percent from its recent high seen in February.
Published 24 Mar, 2021 02:41pm
Biden considers executive actions on guns, calls on Congress to pass weapons ban
USA

Biden considers executive actions on guns, calls on Congress to pass weapons ban

  • U.S. President Joe Biden urged Congress to swiftly pass gun control laws and may take action on his own to stop mass violence, the White House said on Tuesday, a day after the second deadly mass shooting in a week.
  • The Democrat called on the Senate to approve two bills passed by the House of Representatives on March 11 that would broaden background checks on gun buyers. He also called for a ban on assault-style weapons.
Published 24 Mar, 2021 01:42pm
COVID-19 vaccine in pill-form to enter first phase of clinical trials
World

COVID-19 vaccine in pill-form to enter first phase of clinical trials

  • A coronavirus vaccine in pill form could enter the first phases of clinical trials by June this year, with Oravax being the company working on the substance.
  • The company reiterated that this step is an early phase in the development of the vaccine, and even if it clears clinical trials, there could be a year's wait until it is formally authorised for use.
Published 24 Mar, 2021 11:39am
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