News Archives for Latest - 2021-03-31

Pakistan

Germany offers €7,500,000 for textiles industry

Ministry of Commerce and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Germany signed an Implementation Agreement in pursuance of Memorandum of Understanding (MoU) earlier signed between Economic Affairs Division (EAD) on behalf of Islamic Republic of Pakistan and Federal Republic of Germany on December 23, 2020.

Updated 01 Apr, 2021 12:02am

Pakistan

Health teams directed to complete target of anti-polio drive during catch-up days

He said that the guest children should also have 100 percent coverage even though they belong to any area.

Published 31 Mar, 2021 11:45pm

Govt eyes to increase share of green energy to 30 per cent: NEPRA chairman

“Overall, the target of increasing the share of clean renewable energy including hydropower in the country is 60% in the next 10 years,” he said this while sharing his view with the participants of webinar ‘Impact of COVID on Energy Sector of Pakistan: Opportunities and Challenges,’ held by Sustainable Development Policy Institute (SDPI) here on Wednesday.

Updated 01 Apr, 2021 12:02am

USA

Covid was third leading cause of US deaths in 2020: data

Heart disease was responsible for about 690,000 deaths, cancer for 598,000 deaths and Covid for 345,000 deaths, according to a new report.

Updated 01 Apr, 2021 12:02am

Condition of Sindh deteriorating instead of improving: Haleem Adil Shaikh

Haleem Adil said that conditions in Sindh are deteriorating instead of improving despite the fact that PPP has remained the ruling party since years.

Updated 01 Apr, 2021 12:02am

Pakistan

FM Qureshi concludes three-day “highly productive” visit to Tajikistan

During what the Foreign Office spokesperson called the "highly productive" visit, the foreign minister held range of meetings with the Tajik leadership prior to his departure, on sidelines of the moot.

Updated 01 Apr, 2021 12:02am

Pakistan

Petroleum prices reduced to benefit common man: Farukh Habib

He said the Prime Minister made a decision to provide maximum relief to the common man, he said while talking to a private news channel.

Updated 01 Apr, 2021 12:02am

Pakistan

No proposal under observation to close mosques during Ramazan: Hafiz Tahir Ashrafi

He also appealed to merchants not to make extra profiteering during the holy month and make trade with Allah.

Updated 01 Apr, 2021 12:02am

Pakistan

WTO says 2021 global trade recovery rests on vaccines

The predicted bounce-back in global merchandise trade by volume is slightly stronger than the WTO's previous 7.2 percent forecast issued in October.

Updated 01 Apr, 2021 12:02am

Pakistan

Minister seeks report over clash in Adiala jail

According to a statement issued here, two prisoners were injured during a fight and were shifted to District Headquarter Hospital.

Updated 01 Apr, 2021 12:02am

Pakistan

LHC disposes of plea against use of slogan "Corona se darna nahi larna hai"

LHC Chief Justice Muhammad Qasim Khan heard the petition filed by Advocate
Salman Idrees. During Wednesday proceedings, a law officer on behalf of the federal government submitted a reply to the petition.

Updated 01 Apr, 2021 12:02am

Pakistan

Punjab Health Minister receives donation for 3 hospitals

She said the government was trying its best to control coronavirus pandemic. "We are enhancing the capacity of the Punjab hospitals," she added.

Updated 01 Apr, 2021 12:02am

Pakistan

Minister urges senior citizens to get second dose of corona vaccine in time

In a statement issued here on Wednesday,she said that the senior citizens must visit the same center where they got themselves vaccinated for the first dose.

Updated 01 Apr, 2021 12:02am

Pakistan

Sugar mafia won’t escape accountability: Shibli

In a tweet, he blamed speculators and mafias for creating uncertainty in the market which led to the surge in the prices of sweetener.

Updated 01 Apr, 2021 12:02am

Pakistan

Balochistan reports 19 more positive for COVID-19

According to media coordinator provincial Health Directorate Cell Balochistan Dr Muhammad Wasim Baig, at least 657163 people were screened for the virus till March 31 out of which 19 more were reported positive.

Updated 01 Apr, 2021 12:02am

Pakistan

Court orders jail authorities to produce Khawaja Asif on next hearing

NAB had launched investigation against the PML-N leader under Clause 4 of NAB Ordinance 1999 and section 3 of Anti-Money Laundering Act.

Updated 01 Apr, 2021 12:02am

Pakistan

Ukrainian Ambassador calls on COAS

The COAS said that Pakistan attaches great importance to furthering bilateral relations with Ukraine in all domains.

Updated 01 Apr, 2021 12:02am

Energy

Oil prices mixed as U.S. crude inventory draw supports, OPEC+ concerns weigh

OPEC+ has lowered its oil demand growth forecast for this year by 300,000 barrels per day (bpd), a report from its experts panel meeting seen by Reuters showed.

Published 31 Mar, 2021 11:56pm

Europe Fixed Income

Euro zone bond yields fall despite a surge in inflation

Inflation excluding food and energy prices, a less volatile measure that the ECB watches more closely, slowed to 1%.

Published 31 Mar, 2021 11:47pm

Forex

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

South Africa's trade surplus widened to 28.96 billion rand ($1.96 billion) in February from a revised surplus of 12.42 billion rand in January, data from the revenue service showed.

Published 31 Mar, 2021 11:42pm

Stocks

Big tech lifts equities as Biden rebuilding plan in focus

Britain's blue-chip FTSE 100 index fell 0.9pc as online food delivery firm Deliveroo closed down 30pc on its first day of trading.

Updated 01 Apr, 2021 12:01am

Commodities

Copper climbs on Chinese factory data, infrastructure hopes

A stronger U.S. currency makes dollar-priced metals more expensive and less appealing to holders of other currencies.

Updated 01 Apr, 2021 12:01am

Europe

Macron to make COVID-19 address as third wave swamps French hospitals

Parliament will vote on Thursday on the measures announced by Macron. "That tells you steps will be taken on a national level," the government source said.

Updated 01 Apr, 2021 12:01am

Europe

Italy reports 467 coronavirus deaths on Wednesday, 23,904 new cases

Some 351,221 tests for COVID-19 were carried out in the past day, compared with a previous 301,451, the health ministry said.

Updated 01 Apr, 2021 12:01am

Stocks

European stocks flat, with Deliveroo tumbling in debut

The German DAX slipped 0.1pc after breaching the 15,000-mark for the first time on Tuesday, while the UK's FTSE 100 fell 0.9pc.

Updated 01 Apr, 2021 12:01am

Commodities

Gold rises on softer dollar, but set for worst quarter in over 4 years

Gold is down over 9pc for the quarter and is on track for its worst quarterly performance since end-December 2016.

Updated 01 Apr, 2021 12:01am

Europe

Turkey logs highest new daily COVID-19 cases since beginning of pandemic

The government eased measures to curb the pandemic in Turkey earlier this month, prompting a surge in new cases.

Updated 01 Apr, 2021 12:01am

Stocks

S&P 500 nears 4,000 points for the first time, Biden's spending plan on deck

The $3 trillion-$4 trillion infrastructure package will target traditional projects like roads and bridges alongside investments in the electric vehicle market.

Updated 01 Apr, 2021 12:01am

World

Pfizer says COVID-19 vaccine safe, effective for adolescents in trial

Young people have been less likely to suffer severe disease and more likely to have asymptomatic infection, allowing them to unwittingly transmit COVID-19 to others.

Updated 01 Apr, 2021 12:01am

USA

APPAC hails President Biden’s historic appointment of Judge Zahid Quraishi

On Tuesday, President Biden released his first slate of 11 federal judicial nominations including nine women of diverse backgrounds.
“We are proud to have played an instrumental role in making this appointment happen and thank President Biden, Senator Cory Booker, Senator Bob Menendez, Senator Charles Schumer and many other elected officials for hearing our calls about the need for a Muslim American Federal Judge."

Published 31 Mar, 2021 08:38pm

Europe

Coronavirus toll at 1000 GMT Wednesday

At least 128,173,020 cases of coronavirus have been registered.

Published 31 Mar, 2021 08:25pm

Business & Finance

Huawei posts record profit but US pressure, pandemic hit revenue

Smartphone sales also have stalled after the US cut Huawei off from key components and banned it from using Google's Android services.

Published 31 Mar, 2021 08:22pm

World

BioNTech-Pfizer say Covid vaccine 100pc effective on 12-15 year olds

BioNTech and Pfizer last week began studies of the jab on children, with the first group of five-to-11 year olds getting the vaccine.

Published 31 Mar, 2021 08:20pm

World

WHO experts say Chinese jabs show 'safety', but data lacking

Sinovac and Sinopharm have submitted data in applications for the WHO's EUL green light.

Published 31 Mar, 2021 08:15pm

USA

Biden to unveil massive $2 trillion infrastructure plan

The first phase of Biden's "Build Back Better" program, which he will unveil in a speech in Pittsburgh, will detail massive investment spread over eight years.

Published 31 Mar, 2021 08:12pm

Middle East

Yemen receives first coronavirus vaccines: UN

"This first batch is part of 1.9 million doses that Yemen will initially receive throughout 2021," it added.

Published 31 Mar, 2021 08:09pm

Europe

EU to have received 107 million vax doses by end of week

The overall figure was revised down dramatically after the Anglo-Swedish pharma giant AstraZeneca slashed the number it was providing from a contracted 120 million doses.

Published 31 Mar, 2021 08:06pm

South Asia

Myanmar's Suu Kyi in good health, lawyer says

Suu Kyi is facing a raft of criminal charges and conviction could see her barred from political office for life.

Published 31 Mar, 2021 08:02pm

Europe

EU agency finds no specific age risk for AstraZeneca so far

Germany on Tuesday became the latest in a series of countries to advise against using the AstraZeneca jab for younger people after rare reports of clotting.

Published 31 Mar, 2021 08:00pm

Europe

Erdogan eyes May visit to Nagorno-Karabakh

God willing, we will have a new Bayram together with our brothers by visiting Shusha after the Ramadan feast, Erdogan.

Published 31 Mar, 2021 08:00pm

Stocks

Biden spending plan boosts US equities, Europe falls

The dollar held close to a one-year yen high as a widely-expected surge in global economic growth sees money move out of the safe-haven Japanese unit.

Published 31 Mar, 2021 07:58pm

Markets

Pakistani Rupee continues to appreciate against US Dollar

The PKR opened the trading day at 153.100 against USD, it dropped to the day low of 151.200 before it rebounded.

Updated 31 Mar, 2021 07:57pm

Stocks

US stocks rise ahead of Biden infrastructure roll-out

About 30 minutes into trading, the Dow Jones Industrial Average was up less than 0.1 percent at 33,081.23.

Published 31 Mar, 2021 07:54pm

Pakistan

Money laundering charges: Tareen says FIA's claims are totally fabricated

The former PTI leader says he has already submitted a detailed reply along with concrete evidence in response to FIA notice
The FIA filed two FIRs against Jahangir Tareen, his son Ali Tareen, and other family members in the sugar scandal and money laundering charges

Updated 31 Mar, 2021 07:53pm

Pakistan

Shaukat Tareen likely to be appointed as SAPM on Finance

The 68-year-old is currently working as a member of the economic and finance committee in the Pakistan Tehreek-e-Insaf (PTI) government.
The final decision in this regards would be made by the premier himself.

Updated 31 Mar, 2021 06:36pm

Pakistan

PM Imran chairs NCC meeting over COVID-19, says can’t afford lockdown

The premier presided over the meeting via video link from his Bani Gala residence.
He held a telephonic conversation with the chief ministers of the four provinces and directed them to ensure the strict enforcement of SOPs.

Published 31 Mar, 2021 06:12pm

World

BioNTech-Pfizer COVID-19 vaccine 100% effective on 12-15 year olds: study

The vaccine was 100% effective in protecting against symptomatic disease, said the companies, who tested the drug on more than 2,260 children during phase three trial.
Researchers also didn’t find any safety concerns, Pfizer and BioNTech said.

Updated 31 Mar, 2021 05:18pm

Automobile

Honda recalls 761,000 vehicles worldwide to replace fuel pumps

The recall includes 628,000 U.S. vehicles and covers various 2018-2020 model year Acura and Honda vehicles.
- The recall covers some Accord, Civic, CR-V, Fit, Pilot, Ridgeline, MDX, RDX and TLX vehicles.

Published 31 Mar, 2021 05:11pm

Business & Finance

ECC allows Sugar, Cotton import from India

He said that the private sector could import up to 500,000 metric tons of sugar from India.
Hammad Azhar said that they have decided to reduce the prices of petrol and diesel by Rs 1. 50 and Rs 3 per litre, respectively.
On the proposal of the Ministry of Commerce, the ECC has decided to allow cotton import from India as well, which will benefit our SMEs, said Azhar.

Updated 31 Mar, 2021 05:08pm

World

US seeks Taliban's consent to extend stay of troops in Afghanistan

Under the US-Taliban peace pact, US forces must leave the country by May 1
The Taliban has not taken any decision over the US administration's request

Updated 31 Mar, 2021 03:32pm

USA

White House unveils $2 trillion infrastructure and climate plan

President Joe Biden on Wednesday will call for a dramatic and more permanent shift in the direction of the U.S. economy with a roughly $2 trillion package to invest in traditional projects like roads and bridges alongside tackling climate change and boosting human services like elder care.
He also aims to put corporate America on the hook for the tab, which is expected to grow to a combined $4 trillion once he rolls out the second part of his economic plan in April.

Updated 31 Mar, 2021 03:05pm

Business & Finance

Shanghai Electric submits fresh PAI to acquire K-Electric shares

On Tuesday, it was learned K-Electric has received “withdrawal” of Public Announcement of Intention (PAI) for the acquisition of up to 66.40pc voting shares of K-Electric Limited by Shanghai Electric Power Company Limited.

Published 31 Mar, 2021 02:55pm

Pakistan

FM Qureshi meets Tajik president, defence minister

"Indeed our bilateral ties with Tajikistan are of great importance with the shared vision and goals of Pakistan and Tajikistan leadership lending a strong foundation to build these further," Qureshi tweeted.

Updated 31 Mar, 2021 02:47pm

Pakistan

Holistic approach, financial commitments needed to tackle climate change, says PM

In an article published in The Times, Imran pointed towards the risks Pakistan is facing due to climate change
PM had stated at WEF's strategic dialogue that climate change is one of the defining global challenges faced by our generation and it has far-reaching adverse economic and social impacts

Updated 31 Mar, 2021 02:40pm

Companies

Korean Air expects to take two years to integrate Asiana purchase

"By consolidating these three airlines, it can become a top-level low-cost airline not only in Korea, but also in Asia," he said.

Published 31 Mar, 2021 02:28pm

Commodities

Palm drops as rival oils drag; March exports, output data eyed

The contract is set to post a monthly decline in March.

Published 31 Mar, 2021 02:22pm

Commodities

Soybeans set for 1st monthly drop since mid-2020 on better US planting prospects

The US soybean crush likely fell to 4.952 million short tons in February, or 165.1 million bushels, according to the average forecast of nine analysts surveyed by Reuters ahead of a monthly USDA report.

Published 31 Mar, 2021 02:20pm

Financial

Hungary to raise 2021 budget deficit target

"A decline in the deficit could send a message that we are returning to normality, so we don't let the debt level rise and we target a stable growth path," he said.

Published 31 Mar, 2021 02:18pm

Commodities

Japan buyers agree to pay Q2 aluminium premiums of $148-149/T

The April-June premiums are the highest since the same quarter in 2015. In January to March, the premium was $130 per tonne. This is a third consecutive quarterly rise in premiums.

Published 31 Mar, 2021 02:16pm

World

Italy police arrest Russian official, Italian navy captain in spying case

“The Italian official was taken into custody, while the position of the foreign national is still under consideration in relation to his diplomatic status,” the Carabinieri said.

Published 31 Mar, 2021 02:15pm

Stocks

Asian shares defensive, set for monthly loss on bond rout

The dollar is on track for a third straight monthly rise against the yen and its biggest since end-2016.

Published 31 Mar, 2021 02:13pm

World

Investigation begins into how ship got stuck on Suez Canal

The investigation will include examining the seaworthiness of the ship and its captain’s actions to help determine the causes, Rabie advisor Captain Sayed Sheasha said.

Published 31 Mar, 2021 02:11pm

Stocks

Indian shares fall weighed by financials

The 10-year US Treasury yield rose to 1.776% on Tuesday, its highest since January 2020.

Published 31 Mar, 2021 02:12pm

Pakistan

FIA books Jahangir Tareen, son in over Rs3 billion financial misappropriation

The investigation agency has also charged Tareen and others for illegal hoarding of sugar and cheating in the FIR
The former PTI leader and his family members are also accused of being involved in purchasing US dollars from the open market and transferring them into their overseas accounts

Updated 31 Mar, 2021 02:12pm

Commodities

Dalian iron ore dips as environmental curbs dampen demand

Hot-rolled coil, used in cars and home appliances, increased 0.1% to 5,363 yuan on upbeat economic data.

Published 31 Mar, 2021 02:10pm

World

BBC journalist leaves China amid Beijing's criticisms of network's coverage

“John’s work has exposed truth the Chinese authorities did not want the world to know,” BBC News said. “The BBC is proud of John’s award-winning reporting during his time in Beijing and he remains our China correspondent.”

Published 31 Mar, 2021 02:07pm

Forex

Indonesia's rupiah at near 5-mth low as US bond yields rise

"The additional spending boost could further support the US dollar," Mizuho said in a note.

Published 31 Mar, 2021 01:56pm

Companies

Hitachi to buy US software developer GlobalLogic for $9.6bn

Recent media reports have also said it is discussing a sale of Hitachi Metals Ltd.

Published 31 Mar, 2021 01:54pm

Energy

China's ENN seeks LNG in 10-year purchase tender, first supply in 2022

ENN is the first private Chinese firm to own and operate a major LNG receiving terminal, located in Zhoushan in eastern China's Zhejiang province, just south of Shanghai.

Updated 31 Mar, 2021 01:54pm

Companies

Pakistan-based fintech SadaPay raises $7.2M in seed

SadaPay closes the largest seed round of $7.2 million ever raised by a startup in Pakistan.

Updated 31 Mar, 2021 01:27pm

World

India's daily coronavirus cases rise at slower pace than day earlier

Deaths were at their highest since mid-December, according to a Reuters tally, with 354 people dying of the coronavirus in the last 24 hours, the ministry said, taking total mortalities to 162,468.

Published 31 Mar, 2021 01:24pm

Energy

OPEC+ panel says uncertainties may impact oil demand recovery

The producers are withholding millions of barrels of daily supply to support the market.

Published 31 Mar, 2021 01:22pm

Perspectives

The vaccination dilemma and untraditional role of CSR to fix it

Year 2020 has been the most unforgiving one. The pandemic ruthlessly shook the world leaving the global community in...

Published 31 Mar, 2021 01:15pm

Financial

Indonesia central bank gov commits to loose policy, says FX reserves enough for stability

The economy was on track to grow by 4.3% to 5.3% this year and 5.2% next year, after GDP contracted 2.07% last year, he said.

Published 31 Mar, 2021 01:20pm

Forex

Indian rupee hits 1-month low in opening trade, may fall further

Traders expect higher demand for dollars due to the financial year end in India as well and that is expected to keep pressure on the local unit.

Published 31 Mar, 2021 01:02pm

Pakistan

Pakistan reports 4757 new COVID-19 infections, 78 deaths in 24 hours

With more fatalities, the total death toll due to the deadly disease has reached 14,434
At least 43,965 tests were conducted across the country during 24 hours

Updated 31 Mar, 2021 01:10pm

Stocks

China stocks fall weighed by material, property shares

The start-up board ChiNext Composite index was weaker by 0.62% and Shanghai's tech-focused STAR50 index dipped 0.23%?.

Published 31 Mar, 2021 01:00pm

Mutual Funds

JGBs fall amid speculation BOJ to reduce bond purchases

The five-year yield gained 0.5 basis point to minus 0.095%.

Published 31 Mar, 2021 12:57pm

Financial

Malaysia central bank sees economy rebounding in 2021 though pandemic risks remain

Nor Shamsiah said flexible ringgit exchange rate adjustment will continue to play a key role in ensuring resilience against external shock.

Published 31 Mar, 2021 12:53pm

Commodities

Palm drops as rival oils drag; March exports data underpin

Meanwhile, Dalian's most-active soyoil contract slumped 3.45% and its palm oil contract lost 2.06%. Soyoil prices on the Chicago Board of Trade rebounded with a 0.67%.

Published 31 Mar, 2021 12:51pm

World

Google, BMW, Volvo, and Samsung SDI sign up to WWF call for temporary ban on deep-sea mining

Companies that hold exploration licences for swathes of the sea floor, including DeepGreen, GSR and UK Seabed Resources - a subsidiary of Lockheed Martin's UK-based arm - hope to eventually sell minerals from the seabed to carmakers and battery companies.

Published 31 Mar, 2021 12:48pm

World

Ukraine reports record daily high of 407 coronavirus related deaths

The previous high of 362 deaths was on March 25.

Published 31 Mar, 2021 12:43pm

Stocks

Indian shares weighed by financials, rising US bond yields

HDFC Bank and Housing Development Finance Corp fell about 3% and were top drags to the bluechip Nifty 50 index.

Published 31 Mar, 2021 12:40pm

Financial

Julius Baer can resume acquisitions after Swiss watchdog lifts ban

In January, two former Baer CEOs -- Chief Executive Boris Collardi, now a partner at Geneva wealth manager Pictet, and his successor Bernhard Hodler -- were reprimanded by FINMA for money laundering-related failings involving Venezuelan oil company PDVSA and corruption at FIFA.

Published 31 Mar, 2021 12:38pm

Commodities

South Korea's NOFI tenders for 60,000 tonnes soymeal

The deadline for submission of price offers in the tender is also Wednesday, March 31, they said.

Published 31 Mar, 2021 12:35pm

Sports

ECB to explore use of COVID-19 passports to help fans return

Snowball also said the domestic game was projecting losses in excess of 100 million pounds ($137.22 million) by the end of April due to the impact of the pandemic.

Published 31 Mar, 2021 12:33pm

Commodities

Group in Thailand tenders to buy up to 504,000 tonnes feed wheat

The group had last week made no purchase in a tender for up to 430,000 tonnes of feed wheat with prices regarded as too high.

Published 31 Mar, 2021 12:29pm

Commodities

Pandemic, firm dollar set LME copper for first monthly fall in 1 year

A stronger dollar makes greenback-priced metals more expensive and less appealing to holders of other currencies.

Published 31 Mar, 2021 12:28pm

Real Estate

UK house price rise slows down in March, Nationwide says

In February, prices had risen by an annual 6.9%, based on Nationwide's measure.

Published 31 Mar, 2021 12:26pm

Commodities

South Korean group tenders for 80,000 tonnes wheat from US/Canada

A range of different wheat types is sought for shipment between July 1 and July 31.

Published 31 Mar, 2021 12:23pm

Commodities

Ukraine wheat export prices fall to 5-month lows

Low quality feed wheat cost $247-$252 per tonne FOB.

Published 31 Mar, 2021 12:17pm

Technology

Tencent's e-book spinoff eyes North American expansion

"Similar to what we have been doing in China, we are seeing users who like our content turning to be writers on our platform," Sandra Chen, China Literature's head of international business, told Reuters in an interview.

Published 31 Mar, 2021 12:13pm

World

Heavy gunfire heard near presidency in Niger's capital

The government of Niger was not immediately available to comment.

Published 31 Mar, 2021 12:11pm

World

Facebook to curb hate speech as Indian states go to polls

Opposition parties questioned the company's policy following the report, but the Menlo Park, California-based company maintained, "remains committed to be an open and transparent platform."

Published 31 Mar, 2021 12:09pm

World

ADB approves $450mn loan for Indonesia COVID-19 vaccinations

The loan will fund the purchase of at least 65 million doses of COVID-19 vaccines for priority groups determined.

Published 31 Mar, 2021 12:07pm

Companies

Daimler says despite chip shortage, 2021 off to good start

The carmaker said the planned listing of its truck making unit is being prepared and should be completed by the end of 2021.

Published 31 Mar, 2021 12:05pm

Energy

Oil prices gain on expectations OPEC+ will keep lid on output

Under existing curbs, OPEC, led by Saudi Arabia, and non-OPEC producers, led by Russia, have cut just over 7 million barrels per day (bpd), while Saudi Arabia has made an additional voluntary reduction of 1 million bpd.

Published 31 Mar, 2021 12:01pm

Financial

IMF releases $174.2 million to South Sudan for urgent balance of payments needs

It expected the economy would contract 4.2% in the 2020/21 fiscal year, it added.

Published 31 Mar, 2021 11:56am

Business & Finance

ECC to review sugar, cotton imports from India

As per details, a 21-point agenda will be considered in the meeting, a summary of permission to import cotton from India will be presented while a summary of sugar import will also be submitted for approval.

Updated 31 Mar, 2021 11:58am

Bullion Rate

Gold faces headwinds from strong China factory data

The International Monetary Fund will raise its forecast for global economic growth in 2021 and 2022 after last year's 3.5% contraction, IMF Managing Director Kristalina Georgieva said on Tuesday.

Published 31 Mar, 2021 11:52am

Business & Finance

Investors show 'great confidence' in Pakistan says Azhar, after successful bond deal

Pakistan launched a three-tranche bond deal on Tuesday to raise $2.5 billion comprising tranches of five, 10, and 30 years for which it received over $5.3 billion in combined orders, a document showed, in its first international bond sale since late 2017.

Published 31 Mar, 2021 11:46am

Business & Finance

UK economy grew by stronger-than-expected 1.3% in Q4

Britain's economy suffered the biggest drop of all countries in the Organisation for Economic Co-operation and Development except for Argentina and Spain last year, OECD data has shown.

Published 31 Mar, 2021 11:51am

Financial

Poland's economy could grow by 3.3% in 2021: World Bank

World Bank experts expect the economy will grow by 4.2% in 2022.

Published 31 Mar, 2021 11:50am

Stocks

Japan stocks end lower as Archegos woes rattle financials

Hitachi Ltd fell 7.30% after the Nikkei newspaper reported the company will buy a US software developer for $9.6 billion. Hitachi confirmed the acquisition after the closing bell.

Published 31 Mar, 2021 11:48am

World

Spain removes age limit on AstraZeneca vaccine, to give J&J to over-66s

A public health commission approved the change at a meeting on Tuesday, the broadcaster said.

Published 31 Mar, 2021 11:46am

Pakistan

SHC directs govt to fix price of COVID-19 vaccine

On March 18, the court had suspended the drug regulatory authority’s notification concerning the withdrawal of exemption in Covid-19 vaccines import to a private pharma company
DRAP counsel requested the court to not allow the sale of the vaccine until its price is fixed

Published 31 Mar, 2021 11:33am

Business & Finance

Argentina Jan economic activity falls 2% y/y, misses forecasts

Which was worse than analyst forecasts of a 0.4% contraction for the month.

Published 31 Mar, 2021 11:45am

Business & Finance

Aramco, SABIC to lead private sector investment push, Saudi Crown Prince says

He said dividends for those owning shares in Aramco, which listed on the local bourse in 2019, would remain stable. The Saudi government still owns 98% of the firm.

Published 31 Mar, 2021 11:43am

Financial

Chile central bank keeps benchmark interest rate unchanged at 0.5%

A central bank poll of traders last week predicted Chile's rate, its lowest in a decade, would only nudge upwards to 0.75% in 12 months.

Published 31 Mar, 2021 11:42am

Forex

Yuan off lows on upbeat PMI data, but set for worst month since Aug 2019

The PBOC has kept rolling over 10 billion yuan worth of maturing reverse repos, resulting in zero net cash injection for 23 straight trading days, which included Wednesday - the last trading day of the month.

Published 31 Mar, 2021 11:40am

Forex

Australia, NZ dollars find some support from upbeat economic news

"If the AOFM sticks with issuance of A$230 billion there will be a significant pre-funding of next year's deficit, which is on track to be much smaller than expected."

Published 31 Mar, 2021 11:38am

Forex

Dollar hits new one-year high to yen on US pandemic recovery optimism

The Chinese yuan traded around 6.57 per dollar in the offshore market, from the weakest since November at 6.5838, touched on both Monday and Tuesday.

Published 31 Mar, 2021 11:36am

Forex

Canadian dollar hits 3-week low as US readies infrastructure plan

Canada's GDP data for January is due on Wednesday.

Published 31 Mar, 2021 11:34am

Forex

Dollar gains as investors bet on strong US recovery

Investors will watch closely the monthly US nonfarm payrolls on Friday, with Federal Reserve policymakers so far citing slack in the labor market for their continued lower-for-longer stance on interest rates.

Published 31 Mar, 2021 11:32am

Stocks

Australia shares notch best month in four as China data lifts rebound bets

The US 10-year bond yield hit a 14-month high in overnight trade.

Published 31 Mar, 2021 11:31am

Stocks

Australia shares jump 1% on financials, mining boost

Bucking the trend, gold stocks dipped alongside weak bullion prices, with heavyweight Newcrest Mining losing nearly 1%.

Published 31 Mar, 2021 11:29am

Stocks

Australia shares set to open higher; NZ flat

The benchmark fell 0.9% on Tuesday.

Published 31 Mar, 2021 11:25am

Sports

Nuggets punish sluggish Sixers

In on-court remarks following the win, Murray said the support had swept Denver to Tuesday's victory.

Published 31 Mar, 2021 11:23am

World

US orders diplomats out of Myanmar as violence spirals

The KNU, one of the biggest rebel groups, took over an army base in eastern Kayin state at the weekend, prompting the military to respond with air strikes.

Published 31 Mar, 2021 11:20am

World

Ivory Coast's Gbagbo faces 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 31 Mar, 2021 11:18am

Stocks

Hong Kong stocks down at lunch

The Hang Seng Index slipped 0.31 percent, or 88.69 points, to 28,488.81.

Published 31 Mar, 2021 11:14am

World

Joe Biden nominates Zahid Quraishi as first Muslim federal judge

Quraishi, a New Jersey magistrate judge, if confirmed would be US's first Muslim American to serve on a federal district court.
Biden also nominated nine women of diverse backgrounds including several Black candidates and an Asian American.

Published 31 Mar, 2021 11:18am

World

Capitol police sue Trump over January 6 riot

The lawsuit compiles numerous instances in which it says Trump encouraged the insurrection.

Published 31 Mar, 2021 11:12am

World

China locks down city on Myanmar border over virus fears

Ruili will also test all its residents for the virus, and everyone will go under "home quarantine" for a week, said an official notice.

Published 31 Mar, 2021 11:10am

Stocks

Deliveroo set for London stock market launch

Britain's antitrust regulator last year approved Amazon's 16-percent investment in Deliveroo after an in-depth probe concluded it would not harm competition.

Published 31 Mar, 2021 11:03am

World

Crashed Indonesia passenger jet's cockpit voice recorder found: ministry

That accident -- and another in Ethiopia -- led to the worldwide grounding of the 737 MAX over a faulty anti-stall system.

Published 31 Mar, 2021 10:59am

Stocks

Asian markets track US losses, Biden spending plan in focus

Markets are also gearing for the release of key US jobs data, which will provide a guide to the state of the economy.

Published 31 Mar, 2021 10:57am

Sports

Korda ready for ANA challenge after major near-miss

The Korean then birdied the first playoff hole to pip Korda and Canada's Brooke Henderson for the title.

Published 31 Mar, 2021 10:52am

Business & Finance

Saudi plans economic overhaul with $3.2 trillion investment

Joblessness in Saudi Arabia touched 14.9 percent in the third quarter of 2020, dipping slightly from an all-time high of 15.4 percent in the previous quarter, according to official data.

Published 31 Mar, 2021 10:50am

Business & Finance

China factory activity rises as economic recovery broadens: official

NBS senior statistician Zhao Qinghe said that with China's control of the Covid-19 outbreak, consumer demand returned and "the service industry accelerated its recovery".

Published 31 Mar, 2021 10:49am

Stocks

Hong Kong stocks rise at start of trade

The Hang Seng Index added 0.79 percent, or 225.03 points, to 28,802.53.

Published 31 Mar, 2021 10:47am

Stocks

Tokyo stocks open lower with eyes on China data

Mitsubishi UFJ rival Sumitomo Mitsui Financial was also down 2.06 percent at 4,045 yen.

Published 31 Mar, 2021 10:45am

Business & Finance

Inland Revenue seize Illicit cigarettes worth over Rs 5mn

Proceedings are underway to curb the illicit trade in cigarettes as per the special instructions of the Prime Minister of Pakistan and Chairman FBR.

Published 31 Mar, 2021 10:44am

World

UN report points to Huthis for December attack on Aden airport

They were fired from "facilities were under the control of the Huthi forces at the time of the attacks," said a summary of the confidential investigative report obtained on Tuesday by AFP.

Published 31 Mar, 2021 10:44am

World

US VP Harris thanks Guatemalan president for controlling Honduras border

Still, at least 300 Hondurans left Tuesday in a new caravan headed for the US border. Since October 2018, more than a dozen caravans have left Honduras, heading north.

Published 31 Mar, 2021 10:42am

World

Brazil military chiefs exit in new turmoil for Bolsonaro

Some Brazilian media reported the trio had resigned in protest at Bolsonaro's surprise decision to replace defense minister Fernando Azevedo.

Published 31 Mar, 2021 10:39am

Stocks

Dollar hits one-year yen high but stocks split

App-driven food delivery company Deliveroo is meanwhile set for London's largest stock market launch in a decade with a valuation of £7.6 billion.

Published 31 Mar, 2021 10:36am

World

US opens army base for migrant kids as numbers mount

The children have overwhelmed CBP and HHS facilities, bringing criticism of Biden for overcrowding and forcing a rapid search for new capacity to hold them, as in Fort Bliss.

Published 31 Mar, 2021 10:33am

World

US leads concern over WHO-backed Covid origins report

Trump had promoted a theory that the virus could have leaked from a lab in Wuhan, which the WHO-backed experts dismissed in their report.

Published 31 Mar, 2021 10:30am

World

US orders departure of non-essential diplomats from Myanmar

The ordered departure status will be reviewed in 30-day increments, the spokesperson added.

Published 31 Mar, 2021 10:28am

Sports

Barty, Medvedev march on in Miami

Barty regrouped in the third though and with Sabalenka clearly in pain clutching her stomach, rammed home her advantage to complete a deserved win.

Published 31 Mar, 2021 10:27am

Pakistan

Mosques will remain open in Ramazan: Noor-ul-Haq Qadri

Federal Minister for Religious Affairs and Inter-faith Harmony Noor-ul-Haq Qadri advised people to follow precautionary measures while performing religious obligations.

Published 31 Mar, 2021 10:27am

World

Bolivia to speed up vaccinations on border with Brazil

It reported 719 new cases on Monday, of them 38.8 percent in Santa Cruz, 16.5 percent in Beni and 2.8 percent in Pando.

Published 31 Mar, 2021 10:25am

Companies

VW pulls a fast one: 'Voltswagen' rebrand a ruse

"This name change signals that VW is transitioning away from the internal combustion engine and to e-mobility," Gock said in response to emailed questions, including about April Fool's Day.

Published 31 Mar, 2021 10:23am

World

'It wasn't right': witness to Floyd death tells court

"It's been nights I stayed up apologizing and apologizing to George Floyd for not doing more and not physically interacting and not saving his life," she said.

Published 31 Mar, 2021 10:21am

Sports

Dodgers eye World Series repeat as baseball returns

"We want to do it again to ultimately enjoy all the fruits of winning a championship," Roberts said.

Published 31 Mar, 2021 10:19am

World

Biden picks Black women, first Muslim for federal judgeships

Under the US Constitution, the president nominates people to serve on the Supreme Court and other federal courts for life, and the Senate votes on whether to confirm them.

Published 31 Mar, 2021 10:18am

Sports

Sri Lanka make steady progress after Windies' 354

"I think it's about even-steven at this stage," said former West Indies captain Jason Holder.

Published 31 Mar, 2021 10:10am

World

French strike in Mali killed 19 civilians in January: UN

BAMAKO: A French air strike killed 19 civilians in Mali in January, a UN report said on Tuesday, prompting a strong...

Updated 31 Mar, 2021 10:15am

World

Comet ‘most pristine’ object from outer space seen in Solar System

PARIS: A newly observed interstellar comet is the most pristine visitor from outer space ever seen in our Solar...

Updated 31 Mar, 2021 10:15am

World

Slovak PM resigns over handling of pandemic

BRATISLAVA: Slovak Prime Minister Igor Matovic resigned on Tuesday following heavy criticism in the ex-communist...

Updated 31 Mar, 2021 10:15am

World

Myanmar crackdown death toll passes 520

YANGON: The civilian death toll in the Myanmar military’s crackdown on protesters passed 520 as armed rebel groups...

Updated 31 Mar, 2021 10:15am

World

Germany fights UK exclusion from EU research projects

BRUSSELS: Germany and other EU members are opposing a move by the European Commission to block Britain and Israel...

Updated 31 Mar, 2021 10:15am

World

Thai billionaire charged with royal insult over vaccine video

BANGKOK: A billionaire Thai opposition figure was charged Tuesday with defaming the monarchy after he questioned the...

Updated 31 Mar, 2021 10:15am

World

‘Go big’: Biden to launch sweeping infrastructure plan

WASHINGTON: It is a mantra that Joe Biden repeats at every opportunity: “Go big.” And this week, the US leader...

Updated 31 Mar, 2021 10:15am

World

Sisi promises investment to avoid another Suez closure

ISMAILIA, (Egypt): Egyptian President Abdel Fattah al-Sisi pledged Tuesday investment to avoid any repetition of the...

Updated 31 Mar, 2021 10:15am

World

China to expand outbound investment scheme

SHANGHAI: China is planning to expand an outbound investment scheme to its southern province of Guangdong, state...

Updated 31 Mar, 2021 10:14am

World

ICC upholds conviction of Congolese warlord dubbed ‘Terminator’

THE HAGUE: The International Criminal Court on Tuesday upheld the war crimes conviction and 30-year sentence imposed...

Updated 31 Mar, 2021 10:14am

World

UN chief says Syria border must stay open for aid

UNITED NATIONS: UN Secretary General Antonio Guterres said Tuesday that a closure of the last remaining border...

Updated 31 Mar, 2021 10:14am

World

Russia stages fresh military drills in the Arctic

MOSCOW: Russia was holding fresh military exercises on Tuesday in the Arctic, a territory of growing importance for...

Updated 31 Mar, 2021 10:14am

World

UK concern over ‘opaque’ empire of billionaire Gupta

LONDON: Britain’s business minister on Tuesday confirmed Boris Johnson’s government had refused a £170 million...

Updated 31 Mar, 2021 10:14am

World

Women in the majority as Spanish PM reshuffles cabinet

MADRID: Spanish Prime Minister Pedro Sanchez reshuffled his government Tuesday, in a move that will see the majority...

Updated 31 Mar, 2021 10:14am

World

Merkel and party chief at odds over virus measures

BERLIN: The leader of Angela Merkel's Christian Democratic Union party pushed back Monday against the chancellor's...

Updated 31 Mar, 2021 10:14am

World

Forests, soil may not keep pace with CO2 emissions, experts warn

PARIS: The world is counting too heavily on soil and plants to soak up planet-ravaging carbon pollution, researchers...

Updated 31 Mar, 2021 10:14am

World

Without Trump, political disinformation dips - for now

WASHINGTON: Twitter said it permanently suspended Donald Trump's account after the January 6 Capitol riot because...

Updated 31 Mar, 2021 10:14am

World

Tsarist-era Moscow grocery store set to close

MOSCOW: A historic grocery store operating in central Moscow for more than a century selling exotic foods in lavish...

Updated 31 Mar, 2021 10:14am

World

US, 13 allies voice concern on WHO-backed Covid report

WASHINGTON: The United States and 13 allies on Tuesday jointly voiced concern over a World Health ...

Updated 31 Mar, 2021 10:14am

Business & Finance

Byco Petroleum Results Review

Company Overview Byco Petroleum was incorporated as a public limited company in Pakistan in 1955. The company is a...

Published 31 Mar, 2021 08:30am

BR Research

Shadman Cotton Mills Limited

Shadman Cotton Mills Limited (PSX: SHCM) was set up in 1979 as a public limited company. It has a ring-spinning unit...

Published 31 Mar, 2021 07:45am

BR Research

Sapphire’s EV ambitions

Finally, electric bus has made its debut in Pakistan. Yesterday, there was a soft launch of first electric bus by...

Published 31 Mar, 2021 07:40am

BR Research

Saif Power working it through

Saif Power Limited (PSX: SPWL) - a subsidiary of the Saif Group – announced its financial performance for 2020...

Published 31 Mar, 2021 07:38am

BR Research

KSE-100, Covid and PIB yields

As covid comes full circle in Pakistan, April 2021 may start to look much like the April 2020. Covid is back in the...

Published 31 Mar, 2021 07:30am

BR Research

Economy and the art of self-cannibalization

“If you don't cannibalize yourself, someone else will”. Prime Minister Imran Khan may or may not have read that...

Published 31 Mar, 2021 07:25am

World

Global leaders push for pandemic preparedness treaty

GENEVA: World leaders pushed Tuesday for a new international treaty to prepare for the next global pandemic - and...