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Archive - 2021-03-29
UK PM Johnson says he hopes to avoid another lockdown
Europe

UK PM Johnson says he hopes to avoid another lockdown

  • "I am hopeful, I don't see anything in the data right now that would cause us to deviate from the roadmap, but we have got to remain humble in the face of nature and we have to be prepared to do whatever it takes to protect the British public,"
Updated 30 Mar, 2021 12:01am
Trading volumes in emerging hard-currency debt shrink 11pc in 2020
Forex

Trading volumes in emerging hard-currency debt shrink 11pc in 2020

  • "The year was marked by the outbreak of Covid-19 leading to a sell-off in the financial markets and the dramatic contraction in economic growth around the globe," EMTA said in a statement.
  • "The adoption of expansive monetary policies and historically low US Treasury yields later encouraged capital flows into higher-yielding asset classes including EM."
Published 29 Mar, 2021 09:34pm
Hammad Azhar to replace Hafeez Shaikh as finance minister
Pakistan

Hammad Azhar to replace Hafeez Shaikh as finance minister

  • As per reports, Federal Minister of Industries and Production Hammad Azhar would be appointed as a replacement for Hafeez Shaikh.
  • The development comes weeks after PPP candidate Yusuf Raza Gilani defeated Hafeez Shaikh in the Islamabad general seat Senate elections.
Updated 29 Mar, 2021 09:35pm
South Africa's rand recovers, stocks rise
Forex

South Africa's rand recovers, stocks rise

  • The domestic currency will remain erratic, swinging rapidly both stronger and weaker, as global market events continue to impact its direction.
  • Stocks surged on Monday extending a massive gain seen on Friday as hopes of a faster local economic recovery added on to positive global cues.
Published 29 Mar, 2021 09:32pm
TSX falls due to subdued commodity-linked stocks
Stocks

TSX falls due to subdued commodity-linked stocks

  • The energy sector dropped 1.4%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.7%.
  • Toronto Stock Exchange's S&P/TSX composite index was down 18.72 points, or 0.1%, at 18,733.86.
Published 29 Mar, 2021 09:28pm
US CDC extends eviction ban through June 30
USA

US CDC extends eviction ban through June 30

  • The CDC's moratorium on most residential evictions - which the agency justified citing the public health crisis - had been set to expire on Wednesday.
  • "Keeping people in their homes and out of crowded or congregate settings - like homeless shelters - by preventing evictions is a key step in helping to stop the spread of COVID-19," CDC Director Rochelle Walensky said in a statement.
Published 29 Mar, 2021 09:18pm
American Airlines readies more jets to meet rising demand
Companies

American Airlines readies more jets to meet rising demand

  • American said that as of March 26, average bookings for the next seven days had reached 90% of levels experienced before the pandemic upended air travel in 2019, with a domestic load factor of about 80%.
  • "The Company presently expects this strength in bookings to continue through the end of the first quarter and into the second quarter," it said in a regulatory filing.
Published 29 Mar, 2021 09:16pm
Brazil to break 2021 spending cap by $5.5bn: IFI budgetary watchdog
USA

Brazil to break 2021 spending cap by $5.5bn: IFI budgetary watchdog

  • Otherwise, Brazil faces a spiral of rising interest rates and inflation, exchange rate weakness, investment drying up and the economy sliding into recession, they say.
  • "This simulation indicates that in order to preserve the ceiling, discretionary spending over the course of the year will have to be cut by 31.9 billion reais," the IFI said in its report, adding that discretionary spending this year should be capped at 107.2 billion reais instead of 139.1 billion.
Published 29 Mar, 2021 09:14pm
Three Wales players sent home after breaching team protocol
Sports

Three Wales players sent home after breaching team protocol

  • "The three players will be returning to their respective clubs this afternoon," FAW said in a statement. "The FAW will not be making any further comment."
  • "Gutted to be leaving the camp early, but rules are rules and I shouldn't have been up in the hotel later than the set time," he wrote.
Published 29 Mar, 2021 09:11pm
China's Great Wall plans hydrogen fuel-cell SUV model
Companies

China's Great Wall plans hydrogen fuel-cell SUV model

  • Great Wall will invest three billion yuan ($456.61 million)in hydrogen-related technologies in the next three years, Wei said. He also said FTXT will seek external fundraising.
  • Great Wall has planned eight new models under WEY marque, which it aims to compete with Toyota and Volkswagen , Wei said.
Published 29 Mar, 2021 09:01pm
Wasim Khan urges everyone to respect Amir's retirement decision
Sports

Wasim Khan urges everyone to respect Amir's retirement decision

  • The left-arm pacer made his decision public late last year that he will not be available for selection in the national team under the current management of head coach Misbah-ul-Haq and bowling coach Waqar Younis.
  • “At the moment Amir has made his decision and we have to respect it. If he hadn’t retired then it would be a different scenario, but at the moment I respect his decision,” he said.
Updated 29 Mar, 2021 09:07pm
Gold falls 1pc as firm dollar, yields weigh
Commodities

Gold falls 1pc as firm dollar, yields weigh

  • Markets eye Biden's infrastructure spending plan on Wednesday.
  • Dollar firms near multi-month peak.
  • Palladium fell as much as 6% in the session.
  • Russia's Nornickel halts water inflow at two major mines.
Published 29 Mar, 2021 08:54pm
Latam FX weakens on firmer dollar, Chilean peso leads declines
Forex

Latam FX weakens on firmer dollar, Chilean peso leads declines

  • The peso slipped 0.8% in early trading. Chile's central bank is not expected to move rates, with markets pricing in two rate hikes by the end of the year.
  • "The global rate-cutting cycle that occurred in the wake of the pandemic has ended and even begun to reverse," economists at Capital Economics wrote in a client note.
Published 29 Mar, 2021 08:50pm
New global solar PV installations to increase 27pc to record 181 GW this year
Energy

New global solar PV installations to increase 27pc to record 181 GW this year

  • Even though prices for solar PV modules are higher than last year, along with long delivery times and rising freight costs, demand should grow in the second half of this year.
  • "In 2021, the strong growth is mostly coming from the top three markets - China, US and India," Edurne Zoco, executive director, clean energy technology at IHS Markit, told Reuters.
Published 29 Mar, 2021 08:48pm
Buffett-backed Chinese EV maker BYD profit up 162pc in 2020
Companies

Buffett-backed Chinese EV maker BYD profit up 162pc in 2020

  • BYD reported 4.23 billion yuan ($643.75 million) net profit in 2020, up from 1.61 billion yuan in 2019. That compared with a 4.6 billion yuan net profit estimated by 22 analysts, according to Refinitiv data.
  • The Shenzhen-based car company, which has partnerships with Japan's top automaker Toyota and German Daimler in China, sold 426,972 vehicles in 2020, 7.5% lower from a year earlier.
Published 29 Mar, 2021 08:44pm
Gupta's Liberty Steel to restart operations, in talks with UK government
Companies

Gupta's Liberty Steel to restart operations, in talks with UK government

  • Gupta's conglomerate GFG Alliance said earlier this month it was in talks with administrators of Greensill over a standstill agreement. On Monday GFG said those negotiations were ongoing and also said that Liberty Steel was still seeking support from the UK government.
  • GFG, however, said on Monday that its steel and mining operations in Europe and Australia were booking record profits and had adequate funding.
Published 29 Mar, 2021 08:42pm
US suspends all trade engagement with Myanmar until elected government returns
USA

US suspends all trade engagement with Myanmar until elected government returns

  • Tai said in a statement that Myanmar security forces' killing of peaceful protesters, students, workers and labor leaders and children "has shocked the conscience of the international community."
  • "These actions are a direct assault on the country's transition to democracy and the efforts of the Burmese people to achieve a peaceful and prosperous future," said Tai, who was sworn into office on March 18.
Published 29 Mar, 2021 08:39pm
EU official urges Greece to investigate asylum-seeker pushbacks
Europe

EU official urges Greece to investigate asylum-seeker pushbacks

  • "I am very concerned about the UNHCR report and there are some specific cases that I really think need to be looked into closer," Ylva Johansson, the EU's home affairs commissioner, said during a visit to the island of Lesbos.
  • "I think the Greek authorities can do more when it comes to investigating these alleged pushbacks."
Published 29 Mar, 2021 08:37pm
Air France refinancing step expected in days, minister says
Companies

Air France refinancing step expected in days, minister says

  • The airline group, which received a 10.4 billion-euro ($12.3 billion) bailout to weather the coronavirus crisis last year, plans to convert 4 billion euros in French and Dutch government loans into hybrid "quasi-equity".
  • "We are nearing a deal," Finance Minister Bruno Le Maire said on France Info radio, predicting a final agreement within "a matter of days".
Published 29 Mar, 2021 08:24pm
BoE's Vlieghe says economy will need help even with swift rebound
Money & Banking

BoE's Vlieghe says economy will need help even with swift rebound

  • Vlieghe said in an interview published on Monday that the yardstick for Britain's economic revival should not be just a few quarters of fast growth, but a full recovery of its labour market, too.
  • "My main message is don't think of the Bank Rate being linked to short-term growth in the economy, as that's not enough," he told TheBusinessDesk.com, a regional business news website.
Published 29 Mar, 2021 08:22pm
Ukraine's central bank governor returns to work after COVID-19
Europe

Ukraine's central bank governor returns to work after COVID-19

  • "The governor recovered from the COVID and returned fully to his duties," Galyna Kalachova told Reuters, without giving further details.
  • Ukraine reported more than 1.65 million coronavirus cases with 32,132 deaths as of March 29, while 1.3 million Ukrainians have recovered.
Published 29 Mar, 2021 08:19pm
South African health insurer Discovery in touch with vaccine makers
Africa

South African health insurer Discovery in touch with vaccine makers

  • While we (Discovery) might be in contact with vaccine manufacturers, the acquisition of the vaccine and the policy for who receives it and in what sequence remains the exclusive responsibility of government, until such time as government informs otherwise.
  • South Africa's vaccine rollout faced a blow in early February when it decided to halt the rollout of AstraZeneca's shots on concerns about its effectiveness against the 501Y.V2 variant.
Published 29 Mar, 2021 08:17pm
Copper slides as ship blocking Suez refloated
Commodities

Copper slides as ship blocking Suez refloated

  • Benchmark copper on the London Metal Exchange was down 0.9% to $8,883 a tonne.
  • "Copper prices lurched lower after we saw the news about the ship in the Suez Canal," a copper trader said. "There may still be a knock-on effect on costs and there is still a queue, but at least the canal isn't blocked any more."
Published 29 Mar, 2021 08:10pm
Norway urges its citizens to leave Myanmar amid violence
Europe

Norway urges its citizens to leave Myanmar amid violence

  • "It is still possible to leave Myanmar but this may change at short notice," the Norwegian foreign ministry said in a statement, while adding that the policy change had been made in coordination with other Nordic countries.
  • There are two Norwegians in Myanmar for Telenor, who are there without families. They both hold key positions in securing Telenor Myanmar's operations.
Published 29 Mar, 2021 08:06pm
Fed will not keep interest rates low for government's benefit, Waller says
USA

Fed will not keep interest rates low for government's benefit, Waller says

  • "My goal today is to definitively put that narrative to rest. It is simply wrong. Monetary policy has not and will not be conducted for these purposes."
  • The Fed's board members and the central bank's powerful chief are appointed by the president with approval of the US Senate, but the governors' long terms and protection from partisan dismissals are meant to insulate the central bank from political pressures.
Updated 29 Mar, 2021 08:09pm
Property management company owned by China's Wanda attracts pre-IPO investment
Financial

Property management company owned by China's Wanda attracts pre-IPO investment

  • Wanda Light Asset Commercial Management Co, which is tasked with managing 368 existing Wanda Plazas and a further 155 under construction, will seek to make strategic investment and acquisitions with the Zhuhai government following its planned listing, Wanda said in a statement on its website.
  • The company aims to list in Hong Kong, according to local media reports and a source with knowledge of the plans.
Published 29 Mar, 2021 07:25pm
Brazil services confidence in March slumps to lowest since last June: survey
USA

Brazil services confidence in March slumps to lowest since last June: survey

  • The Getulio Vargas Foundation's (FGV) services sector confidence index fell 5.6 points to 77.6 points in March, the third consecutive decline and the lowest since June's 71.7.
  • The index remains well above last April's record low 51.5, but on the other hand it is falling further below the pre-pandemic level of 94.4 in February last year.
Published 29 Mar, 2021 07:23pm
UK consumers cut their borrowing at record annual pace in Feb
Europe

UK consumers cut their borrowing at record annual pace in Feb

  • UK consumer lending falls at fastest rate since records began.
  • Built-up household savings point to fuel for economic recovery.
  • Mortgage approvals drop before new budget measures announced.
  • Household finances survey shows strain but improvement.
Published 29 Mar, 2021 07:20pm
News Corp buys Houghton Mifflin's consumer arm for $349mn
Industry

News Corp buys Houghton Mifflin's consumer arm for $349mn

  • The unit, HMH Books and Media, will be operated by News Corp's publishing division HarperCollins Publishers, and will give it access to over 7,000 titles including novels from writers like George Orwell, J.R.R. Tolkien and Robert Penn Warren.
  • The Wall Street Journal first reported the deal on Sunday.
Published 29 Mar, 2021 07:18pm
UK's Raab visits Gibraltar to discuss post-Brexit treaty
Europe

UK's Raab visits Gibraltar to discuss post-Brexit treaty

  • "As a valued member of the UK family, we stand side by side with Gibraltar as we enter into the forthcoming negotiations with the EU on Gibraltar's future relationship," Raab said in a statement ahead of the talks with Gibraltar Chief Minister Fabian Picardo.
Published 29 Mar, 2021 07:12pm
Stellantis to halt production at Italian car plant in April
Companies

Stellantis to halt production at Italian car plant in April

  • Production at the plant, where the world's fourth largest automaker makes Jeep Renegade and Compass models and the Fiat 500X compact SUV, has been repeatedly disrupted due to weak demand and semiconductor supply shortages.
  • The FIM CISL union said last week the firm was considering permanently closing one of its two production lines at the Melfi plant to address excess capacity in Italy.
Published 29 Mar, 2021 07:09pm
Emirates says over 85pc of pilots, cabin crew vaccinated against COVID-19
Middle East

Emirates says over 85pc of pilots, cabin crew vaccinated against COVID-19

  • The global take-up of coronavirus vaccines is seen as key to the reopening of borders and lifting social restrictions that have hit travel demand over the past year.
  • Over 35,000 Emirates employees have taken a vaccine shot, the company said in a statement. Emirates has around 80,000 staff across the group, which includes airport operator dnata.
Published 29 Mar, 2021 07:07pm
UK doesn't have vaccine surplus to share
Europe

UK doesn't have vaccine surplus to share

  • "Our first priority is to protect the British public, and the vaccine rollout is continuing to that end," the spokesman told reporters. "We don't currently have a surplus of vaccines, but we will consider how they are best allocated as they become available."
Published 29 Mar, 2021 07:05pm
Malaysia's AirAsia posts record quarterly loss
Industry

Malaysia's AirAsia posts record quarterly loss

  • Depreciation, jump in impairments drained earnings.
  • One-off adjustments due to AirAsia Japan bankruptcy.
  • Sees return of international travel in second half.
  • Anticipates group to make full recovery in 2 years.
Published 29 Mar, 2021 07:00pm
Adam Neumann's final WeWork act: helping SoftBank's SPAC deal
Companies

Adam Neumann's final WeWork act: helping SoftBank's SPAC deal

  • Neumann was locked in a fierce legal battle at the time with SoftBank over a $3 billion deal for a portion of his and other investors' stake in the office space-sharing company.
  • Ranadivé's SPAC had been looking for an acquisition target after raising $420 million in an IPO in August.
Published 29 Mar, 2021 07:04pm
Extra strikers won't help Dutch goal search against Gibraltar
Sports

Extra strikers won't help Dutch goal search against Gibraltar

  • "Putting in more attackers doesn't necessarily make it any easier, because it makes the spaces even smaller for us," he told a news conference.
  • "In the end, that 2-0 against Latvia was not a good result, if you consider all the chances we created. We should have scored at least seven goals," he said.
Published 29 Mar, 2021 06:58pm
Greek cabinet clears EU-funded recovery plan, eyeing big boost in growth
Europe

Greek cabinet clears EU-funded recovery plan, eyeing big boost in growth

  • "The national recovery plan may add up to seven percentage points to GDP on a six-year horizon, on top of the natural growth rate of Greece's economy, and add 200,000 jobs," said Prime Minister.
  • The Greek plan will now be debated in parliament before being submitted in its final form to Brussels, ahead of an end-April deadline.
Published 29 Mar, 2021 06:55pm
Egypt's relisting on JP Morgan bond index could attract $4.8bn
Money & Banking

Egypt's relisting on JP Morgan bond index could attract $4.8bn

  • Egypt, which was removed from the index in the aftermath of a 2011 uprising, has been working for more than two years to be relisted. It is expected to be included in the second half of 2021.
  • Egypt has a combined nominal $28.2 billion in eligible bonds that mature in more than 2.5 years, the minimum amount for inclusion in the index, Mandimika said.
Published 29 Mar, 2021 06:50pm
Raw sugar slumps to three-month low, coffee also down
Commodities

Raw sugar slumps to three-month low, coffee also down

  • May raw sugar fell by 0.12 cents, or 0.8%, to 15.07 cents per lb.
  • "The funds, who started the year in a very ebullient mood (on sugar), seem to be throwing in the towel as prices fall through key support levels," analyst Green Pool said in a weekly market update.
Published 29 Mar, 2021 06:46pm
UK court rules LCF bondholders not eligible for compensation
Europe

UK court rules LCF bondholders not eligible for compensation

  • The ruling will add to pressure on the government to stump up more cash after it said last year it would set up a scheme to determine if some of the bondholders could be paid a one-off payment in certain circumstances.
  • LCF went bust in early 2019, leaving 11,600 bondholders facing losses of up to 267 million pounds. LCF was regulated by the Financial Conduct Authority, but the mini-bonds were unregulated.
Published 29 Mar, 2021 06:39pm
Kenyan lender Equity Group says it will weather new COVID-19 restrictions
Financial

Kenyan lender Equity Group says it will weather new COVID-19 restrictions

  • Equity, which mainly serves low-income customers in rural and urban areas, increased its gross provisions for bad debts five times last year, as borrowers reeled from the impact of the pandemic.
  • "I would say (the latest lockdown) is more of an incident within our projection of a three-year time horizon... there would be no distortion," he said.
Published 29 Mar, 2021 06:36pm
Merkel under pressure to spell out plan to beat virus surge
Europe

Merkel under pressure to spell out plan to beat virus surge

  • The clock is ticking for Germany to reverse soaring infections which, according to its top public health official, could jump to 100,000 a day from 20,000 now.
  • Germany stepped up lockdown measures in December to contain a second wave of infections, which has now turned into a third wave although with fewer deaths.
Published 29 Mar, 2021 06:34pm
Deutsche Bank CEO gives up oversight of investment bank in revamp
Money & Banking

Deutsche Bank CEO gives up oversight of investment bank in revamp

  • The move is likely to reassure regulators, who worried that Sewing has too much on his plate, potentially leaving the investment bank open to operational hazards.
  • Germany's biggest bank was one of the few major banks in the world to assign day-to-day oversight of investment banking to its chief executive. At most banks, other board members oversee the division.
Published 29 Mar, 2021 06:30pm
EU presidents to go to Turkey next week, spokesman says
Europe

EU presidents to go to Turkey next week, spokesman says

  • Turkey, an EU candidate country, last held a formal summit with the two EU chiefs in March 2020, when Erdogan met Michel and von der Leyen in Ankara.
  • Both sides also aim to agree billions of euros in fresh EU support for Syrian refugees in Turkey.
Published 29 Mar, 2021 06:28pm
Bank of England seeks to contain banking glitches, cyber attacks
Money & Banking

Bank of England seeks to contain banking glitches, cyber attacks

  • At a time when Brexit is focusing minds on the future of financial services, this is an area of regulatory policy that provides an opportunity for UK financial services to gain competitive advantage on the global stage.
  • "The speed at which vulnerabilities are remediated should be commensurate with the potential impact that a disruption would cause, and will be an area of supervisory focus," the BoE said.
Published 29 Mar, 2021 06:26pm
Visa moves to allow payment settlements using cryptocurrency
Companies

Visa moves to allow payment settlements using cryptocurrency

  • Bitcoin, the most popular crypto coin, jumped to a one-week high on the news, rising as much as 4.5% to $58,300 and heading back toward a record-high above $61,000 hit earlier this month.
  • The USD Coin (USDC) is a stablecoin cryptocurrency whose value is pegged directly to the US dollar.
Published 29 Mar, 2021 06:20pm
Citi cuts Turkish firms to 'marketweight' on policy uncertainties
Money & Banking

Citi cuts Turkish firms to 'marketweight' on policy uncertainties

  • President Tayyip Erdogan this month appointed Sahap Kavcioglu as central bank governor after sacking Naci Agbal, who had won market praise for aggressively hiking interest rates to try to curb Turkey's double-digit inflation.
  • Citi, which last week said it could look to buy Turkish bank bonds, said it also saw near-term value in industrial companies.
Published 29 Mar, 2021 06:18pm
Honda yet again increases bike prices in Pakistan
Automobile

Honda yet again increases bike prices in Pakistan

  • After the hike, Honda’s top-of-the-chain CB150F will cost for Rs252,900.
  • The country’s top selling motorcycle Honda CD70 also saw its price move up by Rs1,000. It will now be selling for Rs82,900. The company jacked up CD70 Dream price by Rs1,000 and it can now be bought for Rs88,900.
Updated 29 Mar, 2021 06:19pm
Russian oil output rises to 10.22mn bpd in March 1-28
Energy

Russian oil output rises to 10.22mn bpd in March 1-28

  • The rise in production has followed a slump in February, when Russian oil and gas condensate production declined from 10.16 million in January.
  • A source familiar with Russia's thinking said on Monday Russia would support broadly stable oil output by OPEC+ group of leading global oil producers in May.
Published 29 Mar, 2021 06:09pm
Copper slides as ship blocking Suez partly refloated
Commodities

Copper slides as ship blocking Suez partly refloated

  • Benchmark copper on the London Metal Exchange traded down 0.3% to $8,937 a tonne in official rings. Prices are down 7% since hitting 9-1/2-year highs of $9,617 last month.
  • The blockage in the Suez Canal made people think about higher costs of transporting metal. It's not over yet, but the ship is moving.
Published 29 Mar, 2021 06:05pm
Euro set for biggest monthly drop since mid-2019; yen shorts grow
Forex

Euro set for biggest monthly drop since mid-2019; yen shorts grow

  • The euro slipped 0.2% in London trading at $1.1774, nearing last week's four-and-a-half-month trough of $1.1762. On a monthly basis, it is down 2.3%, its biggest drop since July 2019.
  • In a nutshell, the US economy is much stronger and miles ahead in the immunization game compared to Europe's and Japan's, and this ultimately translates into the Fed normalizing policy years before the ECB or the BoJ.
Published 29 Mar, 2021 05:57pm
Indian markets closed on Monday for holiday
Stocks

Indian markets closed on Monday for holiday

  • The NSE Nifty 50 index ended 1.27% higher at 14,507.30 on Friday, while the S&P BSE Sensex rose 1.17% to 49,008.50.
  • The 10-year benchmark bond yield ended at 6.12%, while the rupee settled at 72.5 to the dollar.
Updated 29 Mar, 2021 05:58pm
India contributed to nearly 60% of the global rise in poverty in 2020: Study
South Asia

India contributed to nearly 60% of the global rise in poverty in 2020: Study

  • According to a recent study, an estimated 131 million people were thrust into poverty in 2020, as the global economic slump caused by the pandemic has shrunk the world's middle class population.
  • A large driver of this rising poverty appears to be the South Asian region, which “is estimated to have added nearly double the amount of people to the ranks of the globally poor as sub-Saharan Africa in the pandemic".
Updated 29 Mar, 2021 04:53pm
Pakistan supports Saudi Arabia's 'Green Middle East' initiative, says PM
Pakistan

Pakistan supports Saudi Arabia's 'Green Middle East' initiative, says PM

  • Imran says KSA's initiatives regarding plantation of 10 billion trees in the Kingdom and expansion of protected areas to more than 30 percent are commendable
  • We are targeting 60 percent of our energy to be clean energy by 2030, which will require a major expansion of solar, wind, and hydropower generation capacity in the country: PM
Updated 29 Mar, 2021 04:43pm
O Level exams will start from May 10: Shafqat Mahmood
Pakistan

O Level exams will start from May 10: Shafqat Mahmood

  • "I had received a letter from Christine Ozden, CEO Cambridge requesting that O level/IGCSE exam should be allowed to start from May 10 instead of May 15," the minister tweeted.
  • After consultation with provinces/stakeholders we have agreed, Mahmood added.
Published 29 Mar, 2021 04:18pm
Jani Khel tribe ends sit-in after successful negotiations with KP govt
Pakistan

Jani Khel tribe ends sit-in after successful negotiations with KP govt

  • The residents had been staging a sit-in in their area since March 21, demanding the immediate arrest of the culprits involved in the kidnappings and murder of four teenagers
  • The government has assured the protesters it will hold a transparent inquiry into the incident and punish the culprits
Published 29 Mar, 2021 03:33pm
Proton SAGA releasing in Pakistan next month
Automobile

Proton SAGA releasing in Pakistan next month

  • The car is likely to be launched in five variants. However, the company only sells four variants internationally – Standard MT, Standard AT, Premium AT and Limited Edition R3MT.
  • The sedan would have a 1299cc engine, which the company has downsized from the original size, especially for the Pakistani market.
Updated 29 Mar, 2021 03:31pm
Saudi Arabia announces Ramazan plan for Two Holy Mosques
World

Saudi Arabia announces Ramazan plan for Two Holy Mosques

  • Head of the General Presidency for the Affairs of the two Holy Mosques Sheikh Abdurahman Al-Sudais has urged the visitors of the mosques to get the coronavirus vaccine to ensure their safety as well as the safety of other pilgrims and worshippers.
Published 29 Mar, 2021 02:57pm
Mega-ship in Suez Canal moved '80%' in right direction
World

Mega-ship in Suez Canal moved '80%' in right direction

  • The MV Ever Given, longer than four football fields, became wedged diagonally across the canal during a sandstorm last Tuesday, strangling world supply chains.
  • Egypt is losing some $12-14 million in revenue from the canal for each day it is closed, Suez Canal Authority (SCA) chief Osama Rabie said.
Updated 29 Mar, 2021 02:47pm
Czech billionaire dies in Helicopter crash
Business & Finance

Czech billionaire dies in Helicopter crash

  • A statement issued by the PPF Group N.V. a privately held international financial and investment group founded in 1991 by the 56-year-old billionaire stated that Kellner was killed in a helicopter crash on March 27 in a mountainous area of Alaska.
Published 29 Mar, 2021 02:08pm
Karachi to experience hot weather spell in coming days
Pakistan

Karachi to experience hot weather spell in coming days

  • Due to change of winds direction from southwest to north or northwest, hot and dry weather will prevail in the port city during next four to five days with maximum temperature likely to remain between 38-40 ºCelsius, said PMD.
    • It also predicted suspension of the sea breeze in daytime, which will add to further soaring of the temperature in the port city.
Published 29 Mar, 2021 01:58pm
I.Coast's Gbagbo awaits crucial ICC ruling
World

I.Coast's Gbagbo awaits crucial ICC ruling

  • Gbagbo has been living in Brussels pending Wednesday's decision but plans to go home if it goes his way, thanks to an olive branch offered by his erstwhile rival.
Published 29 Mar, 2021 01:56pm
Tokyo stocks close higher
Stocks

Tokyo stocks close higher

  • Brokerage giant Nomura Holdings plunged 16.33 percent to 603 yen after it said it could post a "significant" loss due to transactions of its US subsidiary with a client.
Published 29 Mar, 2021 01:54pm
Obama's Kenyan 'granny' dies aged 99
World

Obama's Kenyan 'granny' dies aged 99

  • Obama is linked to his Kenyan family via his father Barack senior, a pipe-smoking economist who Obama has admitted he "never truly" knew.
Published 29 Mar, 2021 01:43pm
European equities ahead at open
Stocks

European equities ahead at open

  • Investor sentiment was also soothed by falling oil prices following news of progress in shifting a giant cargo ship blocking the Suez Canal.
Published 29 Mar, 2021 01:10pm
Copper falls on signs of slowing demand
Commodities

Copper falls on signs of slowing demand

  • Copper inventories in LME warehouses have risen 67% so far in March to 123,800 tonnes, their highest since Dec. 16, 2020. Stockpiles of the metal in ShFE warehouses were last at 188,359 tonnes, a high level unseen since September 2020.
Published 29 Mar, 2021 12:04pm
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