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Archive - 2021-04-05
Portugal's Novo Banco agrees to sell Spanish retail network to Abanca
Money & Banking

Portugal's Novo Banco agrees to sell Spanish retail network to Abanca

  • "With this agreement, Novo Banco divests its retail, private banking and small and medium-sized enterprises (SME) operations in Spain, including all 10 branches and employees," Novo Banco said in a statement, without disclosing the sale price.
  • "This transaction is an important milestone in Novo Banco's strategy to divest its non-core assets and operations," it said in a statement.
Published 05 Apr, 2021 09:48pm
US yields mostly up as positive momentum persists with recent strong data
Financial

US yields mostly up as positive momentum persists with recent strong data

  • The US yield curve, which has become a barometer of risk sentiment in the bond market, steepened after flattening in the previous session. The spread between US 2-year and 10-year yields rose to 155 basis points.
  • Trading was quiet to start the week, with most of Europe still on holiday for Easter Monday. China, Hong Kong and Australia were closed as well.
Published 05 Apr, 2021 09:45pm
Japan fears COVID-19 variants are behind possible fourth wave
South Asia

Japan fears COVID-19 variants are behind possible fourth wave

  • "The fourth wave is going to be larger," said Wada, a professor at Tokyo's International University of Health and Welfare. "We need to start to discuss how we could utilize these targeted measures for the Tokyo area."
  • There were 249 new infections in Tokyo on Monday, still well below the peak of over 2,500 in January. In Osaka, the tally was 341, down from a record 666 cases on Saturday.
Published 05 Apr, 2021 09:44pm
Inter Pipeline to get $325mn cash grant to develop petrochemical complex
Companies

Inter Pipeline to get $325mn cash grant to develop petrochemical complex

  • The incentive comes as Inter is in the middle of a takeover battle with Investment firm Brookfield Infrastructure Partners , which launched a hostile C$7.1 billion bid for the pipeline operator in February.
  • The cash grant will be paid to Inter Pipeline in equal installments over three years once the Heartland Petrochemical Complex is operational, the company said.
Published 05 Apr, 2021 09:41pm
Saudi cement firm postpones capital reduction plan amid private sector push
Stocks

Saudi cement firm postpones capital reduction plan amid private sector push

  • Yanbu Cement, listed on the Saudi stock exchange Tadawul, had said in January its board had recommended a capital reduction to 1 billion riyals ($266.65 million) from 1.575 billion riyals as the capital exceeded the company's needs.
  • The capital decrease would have happened by cancelling 36.5% of its shares and compensating shareholders.
Published 05 Apr, 2021 09:37pm
Man City could break transfer record, says Guardiola
Sports

Man City could break transfer record, says Guardiola

  • With Sergio Aguero leaving the Etihad Stadium at the end of the season, City have been linked with Haaland in British media reports and Guardiola will get a closer look at him on the pitch in Tuesday's Champions League quarter-final first leg.
  • Guardiola last week described the prospect of another record breaking transfer in the close season as "impossible", though on Monday he softened that stance by claiming a 100 million-pound signing was possible.
Published 05 Apr, 2021 09:34pm
UK scientists say further easing of COVID rules won't overwhelm health service
Europe

UK scientists say further easing of COVID rules won't overwhelm health service

  • British Prime Minister Boris Johnson is expected to announce later on Monday that England can proceed to Stage 2 of his roadmap out of lockdown, allowing hospitality to re-open outdoors next week and the restart of all retail.
  • "Any resurgence in hospital admissions and deaths following Step 2 of the Roadmap alone is highly unlikely to put unsustainable pressure on the NHS," SAGE said in the minutes of a March 29 meeting, published on Monday.
Published 05 Apr, 2021 09:32pm
MLS to trial concussion substitutes in 2021
Sports

MLS to trial concussion substitutes in 2021

  • "Adopting this new rule is an important step as we continue to lead the way in player safety," US Soccer Chief Medical Officer George Chiampas said in a statement.
  • "It was critical to come together as a sport with our professional leagues and proceed in this pilot program, prioritizing the well-being of our players above all.
Published 05 Apr, 2021 09:30pm
Pfizer says working on new COVID-19 vaccine supply deal to Israel
Companies

Pfizer says working on new COVID-19 vaccine supply deal to Israel

  • Pfizer and its partner BioNTech agreed in November to supply Israel with an undisclosed number of COVID-19 vaccines and Israel's Finance Ministry has said it paid some 2.6 billion shekels ($785 million).
  • Israel's government is seeking to secure 36 million more Pfizer/BioNTech doses for use as booster shots or for children once they are eligible, but that hit a snag last week over political infighting.
Published 05 Apr, 2021 09:23pm
Venezuela doctors and scientists urge COVID-19 vaccination progress as cases spike
USA

Venezuela doctors and scientists urge COVID-19 vaccination progress as cases spike

  • "An acceleration of vaccination in Venezuela is urgently needed, as is an increase (in) diagnostic capacity and genomic surveillance that will allow continuous monitoring of the virus and mitigation of future waves of contagion," the statement said.
  • It has received about 500,000 doses of the Sinopharm vaccine from China and about 250,000 from Russia's Sputnik V, of which authorities said last week they expect the arrival of another 30,000 shortly.
Published 05 Apr, 2021 09:20pm
Air France-KLM poised to announce refinancing steps
Companies

Air France-KLM poised to announce refinancing steps

  • Air France-KLM is expected to convert part of its 4 billion euros ($4.7 billion) in direct government loans into hybrid instruments and raise new equity capital under the plans to be announced by Tuesday morning, the sources told Reuters.
  • After drawn-out talks with Brussels over the number of take-off and landing slots at Paris-Orly airport to be given up by Air France in return for renewed aid, France's finance minister said on Sunday a compromise agreement had been reached.
Published 05 Apr, 2021 09:16pm
Bangkok to close 196 nightlife venues amid new coronavirus cluster
South Asia

Bangkok to close 196 nightlife venues amid new coronavirus cluster

  • "We will close entertainment venues in the three districts, while other venues where cases are found will be individually closed," Asawin told reporters late on Monday.
  • Thailand reported 194 new COVID-19 cases earlier on Monday, a rare three-digit figure, which included 45 from Bangkok's nightlife cluster.
Published 05 Apr, 2021 09:14pm
Barrick Gold nears agreement to reopen Porgera mine
Companies

Barrick Gold nears agreement to reopen Porgera mine

  • However, Marape said in October that Barrick Niugini Limited (BNL) was set to remain operator of the Porgera gold mine following talks with Barrick CEO Mark Bristow.
  • BNL is a joint venture company in which Barrick and Zijin Mining Group each own 50%.
Published 05 Apr, 2021 09:08pm
Pioneer Natural falls on $6.4bn deal to buy DoublePoint Energy
Stocks

Pioneer Natural falls on $6.4bn deal to buy DoublePoint Energy

  • The DoublePoint Energy deal is Pioneer's second big purchase and the fourth multi-billion shale deal this year. In January, Pioneer closed a $4.5 billion, all-stock purchase of Parsley Energy, giving it one of the largest positions in the Permian Basin, the top US shale field.
Published 05 Apr, 2021 09:06pm
Soy up 12-15 cents, corn mixed, wheat steady-up 3 cents
Commodities

Soy up 12-15 cents, corn mixed, wheat steady-up 3 cents

  • Benchmark soft red winter wheat futures firming on some concerns about crop health in parts of Midwest after cold snap late last week.
  • Forecasts for rain in southern US Plains pressure hard red winter wheat while spring wheat supported by dry soils in northern US Plains.
Published 05 Apr, 2021 08:22pm
'I'm not going to hide', says Cadiz's Cala after racism allegation
Sports

'I'm not going to hide', says Cadiz's Cala after racism allegation

  • The Spaniard, who had an altercation with Diakhaby leading to the Frenchman telling the referee he had been racially abused, said he will give his side of the story on Tuesday.
  • Diakhaby asked to be substituted as he did not want to continue playing, and Cala, who scored the opening goal, was taken off by coach Alvaro Cervera at halftime.
Published 05 Apr, 2021 08:21pm
Oman to ban entry of visitors from April 8
Middle East

Oman to ban entry of visitors from April 8

  • The committee also extended an evening ban on all commercial activities until the end of the Muslim fasting month of Ramadan, which is due to start in mid-April this year, according to a statement on state media.
Published 05 Apr, 2021 08:15pm
Palestinian president flies to Germany for medical checkup
Middle East

Palestinian president flies to Germany for medical checkup

  • Abbas, 85, has long been in poor health and was admitted to hospital with pneumonia in 2018. A heavy smoker, he was also treated in a US hospital the same year during a trip to address the UN Security Council.
  • When these events occurred, we saw the whole world, without exception, standing by Jordan and by His Majesty, and this is evidence of the great respect and great interest in this peaceful and secure country.
Published 05 Apr, 2021 08:12pm
US natgas futures fall near 3pc on milder forecasts
Energy

US natgas futures fall near 3pc on milder forecasts

  • Front-month gas futures fell 7 cents, or 2.7%, to $2.569 per million British thermal units.
  • After utilities started injecting gas into storage in late March, which was earlier than usual, speculators cut their net long positions on the New York Mercantile (NYMEX) and Intercontinental Exchanges for a sixth time in a row last week to their lowest since July 2020.
Published 05 Apr, 2021 08:11pm
Greece looks to ease pressure with cautious shops reopening
Europe

Greece looks to ease pressure with cautious shops reopening

  • Last week the government announced the easing of some restrictions, allowing small retail shops selling non-essential goods to reopen, under so-called click-away and click-in-shopping modes.
  • Under the rules, consumers must make appointments and comply with a three-hour limit for shopping, and retailers cannot allow in more than one customer per 25 square metres.
Published 05 Apr, 2021 08:07pm
US Treasury Secretary Yellen to call for global minimum tax rate
USA

US Treasury Secretary Yellen to call for global minimum tax rate

  • The US commitment to a global minimum tax also could help jump-start negotiations between wealthy countries on taxing international corporations, according to tax experts.
  • We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom.
Published 05 Apr, 2021 08:02pm
Egypt's Canal Sugar to start production before June
Commodities

Egypt's Canal Sugar to start production before June

  • The sugar produced at the West Minya project in the south of Egypt will be sold in the local market, which faces a deficit.
  • "We expect to provide 1.5 million tons of beet in May and June, which will enable us to produce about 170,000 tons of sugar during that period," Islam Salem told Reuters.
Published 05 Apr, 2021 07:58pm
US service sector activity index jumps to record high in March: ISM survey
USA

US service sector activity index jumps to record high in March: ISM survey

  • The Institute for Supply Management (ISM) said on Monday its non-manufacturing activity index rebounded to a reading of 63.7 last month also lifted by warmer weather. That was the highest in the survey's history and followed 55.3 in February.
  • A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of US economic activity. Economists polled by Reuters had forecast the index rising to 59.0 in March.
Published 05 Apr, 2021 07:54pm
Ukraine inflation seen hitting 1.5-year high for March
Money & Banking

Ukraine inflation seen hitting 1.5-year high for March

  • Inflation last moved above 8% in August 2019 before slowing down to the central bank's mid-term goal of 5% as of the end of 2020.
  • The rate of price growth jumped to 7.5% in February and continued speeding up in March despite the central bank raising its benchmark interest rate to 6.5% from a historic low of 6.0% on March 4 to fight inflation.
Published 05 Apr, 2021 07:52pm
Dollar dips to one-week lows as stocks hit records
Forex

Dollar dips to one-week lows as stocks hit records

  • The greenback has generally risen at the same time as stocks gain. Investors are now watching to see if that relationship continues as it may indicate a shift in how the currency responds to improving risk appetite.
  • "The trickiest thing for markets right now is to figure out what the dollar's sensitivity is to good US economic news," said Erik Nelson, a macro strategist at Wells Fargo in New York.
Published 05 Apr, 2021 07:49pm
US Supreme Court brings end to Trump Twitter fight
USA

US Supreme Court brings end to Trump Twitter fight

  • Trump had appealed after the New York-based 2nd US Circuit Court of Appeals concluded that he had ran afoul of US Constitution's First Amendment by blocking his critics on the social media platform. Trump, a Republican, left office in January, replaced by Democratic President Joe Biden.
Published 05 Apr, 2021 07:47pm
Exxon Baytown, Texas, refinery restarts hydrotreater
Companies

Exxon Baytown, Texas, refinery restarts hydrotreater

  • The 55,000-bpd gas oil hydrotreater was shut on Jan. 11 as part of an overhaul of the large gasoline-producing fludic catalytic cracker (FCC) at the Baytown refinery, the sources said. The FCC restarted on Thursday after being shut for 11 weeks.
Published 05 Apr, 2021 07:45pm
Ukraine turns to sea-borne diesel imports as tensions rise with Russia
Energy

Ukraine turns to sea-borne diesel imports as tensions rise with Russia

  • Tensions between Russia and Ukraine have flared in recent weeks after years of strain began in 2014 when street protests in Kyiv resulted in the flight of the pro-Moscow president and annexation of Crimea by Russian forces.
  • The data also showed that the Serena M tanker shipped 30,000 tonnes of diesel to the port of Yuzhny from Turkey in the second half of March.
Published 05 Apr, 2021 07:43pm
US factory orders decline in February
USA

US factory orders decline in February

  • The Commerce Department said on Monday that factory orders dropped 0.8% after surging 2.7% in January. Economists polled by Reuters had forecast factory orders slipping 0.5% in February. Orders increased 1.0% on a year-on-year basis.
  • Unfilled orders at factories increased 0.8% in February after gaining 0.2% in January, suggesting a rebound in demand in the coming months.
Published 05 Apr, 2021 07:40pm
US Supreme Court sides with Google in major copyright dispute with Oracle
USA

US Supreme Court sides with Google in major copyright dispute with Oracle

  • In a 6-2 decision, the justices overturned a lower court's ruling that found Google's inclusion of Oracle's software code in Android did not constitute a fair use under US copyright law.
  • Google had appealed a 2018 ruling by the US Court of Appeals for the Federal Circuit in Washington reviving the suit.
Published 05 Apr, 2021 07:38pm
Capital Energy bows out of Spanish green IPO race
Stocks

Capital Energy bows out of Spanish green IPO race

  • Spain's lofty targets to install wind farms and solar parks have caught the eyes of investors keen to deploy funds in a sector boosted by an international drive to cut planet-warming emissions.
  • Given the current volatility in the market around listed renewable energy companies and the foreseeable over-supply of stock market listings by other companies in the sector, now is not the right moment to list.
Updated 05 Apr, 2021 07:33pm
Senate unanimously passes PSW bill 2021
Pakistan

Senate unanimously passes PSW bill 2021

  • This bill will help Pakistan to comprehensively improve transparency, efficiency and control and imports, exports and transit trade besides meeting its international obligations.
Published 05 Apr, 2021 07:29pm
Russia extends punitive Twitter slowdown until mid-May
Europe

Russia extends punitive Twitter slowdown until mid-May

  • Russia has since March impeded the speed of Twitter for not removing content it deems illegal, and threatened to block it entirely. Photos and videos take longer to load for some users.
  • "It was a productive discussion about how we can both work to ensure that reports of such illegal content are dealt with expeditiously," it said in a statement.
Published 05 Apr, 2021 06:52pm
Russian Open, Indonesia Masters Super 100 cancelled due to COVID-19
Sports

Russian Open, Indonesia Masters Super 100 cancelled due to COVID-19

  • The Russian Open, a Super 100 event on the BWF World Tour, was due to take place from July 20-25 and the Indonesia Masters Super 100 was scheduled for Oct. 5-10.
  • "The ongoing COVID-19 restrictions and complications left local organisers no choice but to cancel the tournaments," BWF said in a statement.
Published 05 Apr, 2021 06:48pm
Bank software provider Alkami aims for over $2bn valuation in US IPO
Stocks

Bank software provider Alkami aims for over $2bn valuation in US IPO

  • The company said it was looking to raise as much as $150 million by selling 6 million shares at a price range of $22 to $25 per share.
  • Backed by investors including General Atlantic and D1 Capital, Alkami supplies cloud-based platforms that banks and credit unions can use to set up digital offerings for their retail and business customers.
Published 05 Apr, 2021 06:44pm
Vietnam picks ex-state security official Chinh as new PM
South Asia

Vietnam picks ex-state security official Chinh as new PM

  • The move completes the five-yearly renewal of Vietnam's top four positions, as it looks to maintain economic growth, keep the coronavirus pandemic at bay, and balance relations with Beijing and Washington.
  • Chinh, 62, was the sole nominee put forward by the ruling Communist Party for the post at a congress earlier this year. He won 96.25% of the vote at Monday's National Assembly vote.
Published 05 Apr, 2021 06:41pm
Singapore to accept COVID-19 digital travel pass from next month
South Asia

Singapore to accept COVID-19 digital travel pass from next month

  • Singapore will accept the International Air Transport Association (IATA) mobile travel pass for pre-departure checks, where travelers can get clearance to fly to and enter Singapore by showing a smartphone application containing their data from accredited laboratories.
  • The pass was successfully tested by Singapore Airlines . More than 20 carriers, including Emirates, Qatar Airways and Malaysia Airlines, are also testing the pass.
Published 05 Apr, 2021 06:38pm
Pakistan expresses solidarity with Kingdom of Jordan after coup attempt
Middle East

Pakistan expresses solidarity with Kingdom of Jordan after coup attempt

  • In a formal statement from Pakistan's Ministry of Foreign Affairs, it was revealed that Pakistan is following the situation in Jordan, and stands in solidarity with the Hashemite Kingdom led by King Abdullah II Ibn Al Hussein.
  • On Sunday, Jordan announced that it had foiled a plot to "destabilise" the Kingdom, a plot that involved the King's half-brother Hamzah bin Hussein - a former crown prince who was stripped of his title by the monarch in 2004.
Updated 05 Apr, 2021 06:42pm
Japan's Mizuho to revise IT contingency plans after glitches
Money & Banking

Japan's Mizuho to revise IT contingency plans after glitches

  • Mizuho, Japan's third largest lender by assets, has a history of technical problems. The bank started operating its current system in July 2019 after spending more than 400 billion yen ($3.6 billion) to develop it.
  • I don't see a problem at the core banking system itself for now, but some repair may be needed if necessary.
Published 05 Apr, 2021 06:35pm
Egyptian regulator's advisory body to discuss margin trading
Stocks

Egyptian regulator's advisory body to discuss margin trading

  • Representatives from the stock exchange and the Misr Clearing Company will also attend, Yaqoub said on Monday. The authority had met earlier with representatives of the capital market.
  • The aim "is to not put pressure the market and to avoid unjustified sales to protect the market and customers," she added, without giving further details.
Published 05 Apr, 2021 06:29pm
'Time to move forward': Portugal eases COVID-19 lockdown
Europe

'Time to move forward': Portugal eases COVID-19 lockdown

  • "This lockdown was more painful but it is positive we are reopening," said the 30-year-old. "It's the best day: the restart. It's time to move forward and I hope we will not need to take a step back."
  • At Lisbon's Lemonfit gym, coordinator Joana Silva, 33, was delighted to help people get back in shape after more than two months of lockdown.
Published 05 Apr, 2021 06:26pm
Sempra Energy to sell 20pc stake in unit to KKR for $3.37bn
Companies

Sempra Energy to sell 20pc stake in unit to KKR for $3.37bn

  • The sale was flagged by Sempra in December and comes as the company sharpens its focus on renewables and energy storage to capitalize on the growing global demand for cleaner fuels.
  • Sempra last year late last year agreed to buy the remaining stake in its Mexican unit Infraestructura Energética Nova SAB de CV (IEnova).
Published 05 Apr, 2021 06:24pm
Indonesia eases credit guarantee rules in bid to spur loan growth
South Asia

Indonesia eases credit guarantee rules in bid to spur loan growth

  • Southeast Asia's largest economy fell into recession last year for the first time since 1998. Authorities have said they are focusing on battling a credit crunch to spur a recovery, after a round of monetary easing and fiscal stimulus.
  • The relaxation also includes allowing guarantees for loans of up to three years, versus the earlier scheme backing loans of up to a one-year maturity, and halving the minimum loan size to 5 billion rupiah ($345,000).
Published 05 Apr, 2021 06:21pm
Israeli telecoms firm Partner CEO Benbenisti to step down
Industry

Israeli telecoms firm Partner CEO Benbenisti to step down

  • Partner, Israel's second-largest mobile phone operator, said a final date for Benbenisti's departure has not yet been set. It gave no reason for his departure.
  • In the meantime, the company's board will appoint a nominating committee for a new CEO, Partner said.
Published 05 Apr, 2021 06:19pm
Osaka requests cancellation of torch relay leg
Sports

Osaka requests cancellation of torch relay leg

  • The relay, due to reach Osaka in mid-April, is seen as the first major test of Games organisers' abilities to hold a large event under strict coronavirus curbs. It features 10,000 runners carrying the torch through all Japan's 47 prefectures.
  • The western metropolis of Osaka is grappling with a spike in coronavirus cases and the governor of Osaka prefecture has called for cancelling the leg that takes place in the city.
Published 05 Apr, 2021 06:17pm
Turkey inflation above 16pc in test for new central bank chief
Europe

Turkey inflation above 16pc in test for new central bank chief

  • The data was in line with forecasts and shows inflation has risen for six straight months to well above a 5% official target. It has been in double digits for most of the past four years.
  • There are signs the weaker lira is raising prices: the producer price index jumped 4.13% month-on-month in March for an annual rise of 31.2%, the Turkish Statistical Institute data showed.
Published 05 Apr, 2021 06:13pm
Ukraine corn exports fall 25pc in H1 2020/21, China is main market
Commodities

Ukraine corn exports fall 25pc in H1 2020/21, China is main market

  • Ukraine exported 6 million tonnes of corn to China between October 2020 and March 2021, 5.0 million tonnes to the European Union, 1.7 million tonnes to Egypt and 3.2 million tonnes to other destinations.
  • Ukraine harvested around 30 million tonnes of corn in 2020 and the economy ministry said the export would not exceed 24 million tonnes in 2020/21.
Published 05 Apr, 2021 06:11pm
Netanyahu's favours were 'currency', prosecutor says as corruption trial starts
Middle East

Netanyahu's favours were 'currency', prosecutor says as corruption trial starts

  • "The relationship between Netanyahu and the (co-) defendants became currency, something that could be traded," prosecutor Liat Ben-Ari said in presenting so-called Case 4000. "This currency could distort a public servant's judgment."
  • Netanyahu spent an hour in court, departing - with its consent - before Ilan Yeshua, former CEO of the Walla news-site, testified on behalf of the prosecution.
Published 05 Apr, 2021 06:08pm
SoftBank to lead nearly $1.2bn investment in diagnostics firm Invitae
Companies

SoftBank to lead nearly $1.2bn investment in diagnostics firm Invitae

  • It said the investment, to be used for its growth initiatives, will be in convertible senior notes, which will bear 1.5% interest per year.
  • The company said the notes will have an initial conversion price of $43.18 per share of its common stock, representing a premium of 10.2% to Invitae's closing price on Friday.
Published 05 Apr, 2021 06:06pm
Minneapolis police chief expected to testify against Chauvin in murder trial over arrest of George Floyd
USA

Minneapolis police chief expected to testify against Chauvin in murder trial over arrest of George Floyd

  • "This was murder - it wasn't a lack of training," Arradondo said last year in a statement on the video footage of Chauvin, who is white, kneeling on the neck of Floyd, a 46-year-old handcuffed Black man, for more than nine minutes.
  • Chauvin has pleaded not guilty to murder and manslaughter charges, arguing that he did only what he was trained to do in his 19 years as a police officer.
Published 05 Apr, 2021 06:02pm
Ex-Roma owner Pallotta rues Monchi mistakes, defends Totti treatment
Sports

Ex-Roma owner Pallotta rues Monchi mistakes, defends Totti treatment

  • Pallotta, who sold the Italian club to the Friedkin Group in 2020 after nine years as chairman, also revealed the extent of abuse he received following the departures of club greats Francesco Totti and Daniele De Rossi.
  • In a wide-ranging interview with The Athletic on Monday, American Pallotta talked about the appointment of highly regarded transfer expert Monchi from Sevilla in 2017.
Published 05 Apr, 2021 05:58pm
China reports biggest daily COVID-19 case jump in over 2 months
South Asia

China reports biggest daily COVID-19 case jump in over 2 months

  • Ruili's local government put residents in its urban area under home quarantine, launched a massive testing drive and began restricting people from leaving and entering the city from last week after reporting COVID-19 patients.
  • Genetic analysis of the cases discovered in Ruili suggest the new local infections stem from viruses imported from Myanmar, state media reported. Of the new patients reported in the city, 11 of them were identified as Myanmar citizens.
Published 05 Apr, 2021 05:55pm
CM Kamal visits Gwadar
Pakistan

CM Kamal visits Gwadar

  • He was welcomed by Commissioner Mekran Division and other authorities. Jam Kamal Khan visited Pak-China business centre.
Published 05 Apr, 2021 05:53pm
Hazard not ready to face Liverpool, says Zidane
Sports

Hazard not ready to face Liverpool, says Zidane

  • "Hazard needs to stay calm and be patient, the most important thing is that he is completely recovered and I don't think we'll hurry his return," Zidane told a news conference on Monday.
  • "If the player is in good shape then I'll want to play him but right now we're going to take things slowly and see what happens."
Published 05 Apr, 2021 05:51pm
Iran arrests an 'Israeli spy, Iranian news website reports
South Asia

Iran arrests an 'Israeli spy, Iranian news website reports

  • "An Israeli spy has been arrested in Iran's East Azerbaijan province ... also other spies who were in contact with several countries' intelligence services have been arrested as well," the Young Journalists Club website quoted an Intelligence Ministry official as saying.
  • The Islamic Republic refuses to recognise Israel and has accused it of being behind acts of sabotage and assassinations of scientists involved in its nuclear program.
Published 05 Apr, 2021 05:49pm
Moscow and Washington in high-level contact over Ukraine
Europe

Moscow and Washington in high-level contact over Ukraine

  • Moscow has assured Washington that there is no cause for concern, Ryabkov added, echoing comments made by the Kremlin, which earlier said Russian military movements near its shared border with Ukraine posed no threat to Ukraine or anyone else.
Published 05 Apr, 2021 05:46pm
Belarus to ship 280,000 tonnes of oil products via Russian ports in April
Energy

Belarus to ship 280,000 tonnes of oil products via Russian ports in April

  • Belarus has exported 220,000 tonnes of oil products to Russia since shipments began in March, Russian Prime Minister Mikhail Mishustin said separately on Monday.
  • The shipments were scheduled to start from March, totalling 2 million tonnes this year, 3.2 million tonnes next year and 3.1 million tonnes in 2023.
Published 05 Apr, 2021 05:41pm
Canada's Whitecap Resources to buy Kicking Horse Oil & Gas for C$300mn
Companies

Canada's Whitecap Resources to buy Kicking Horse Oil & Gas for C$300mn

  • Whitecap's indirect acquisition of Kicking Horse consists of 34.5 million Whitecap common shares and C$56 million in cash, along with the assumption of net debt estimated at C$54 million as of Feb. 28.
  • The Kicking Horse assets are positioned in the liquids-rich portion of the Alberta Montney. Whitecap says the deal complements its existing Montney position at Karr and has significant offsetting activity.
Published 05 Apr, 2021 05:39pm
Tesla's market value set to gain $50bn on record first-qtr deliveries
Companies

Tesla's market value set to gain $50bn on record first-qtr deliveries

  • The carmaker's shares, up nearly 8% in pre-market trading, were on track to hit their highest in over a month.
  • The electric-car maker said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity.
Published 05 Apr, 2021 05:33pm
US money market funds see heavy inflows for second week: Lipper
Financial

US money market funds see heavy inflows for second week: Lipper

  • The prospect of losses for US banks, following hedge fund Archegos Capital's default on margin calls, also had market participants concerned.
  • US money market funds received a net $50.35 billion in the week to March 31, after an over $60 billion inflow in the previous week, data from Refinitiv Lipper showed.
Published 05 Apr, 2021 05:31pm
GameStop plans $1bn stock sale, shares slide
Stocks

GameStop plans $1bn stock sale, shares slide

  • The company said it would sell up to 3.5 million shares and use the proceeds to speed up the shift in its business model to e-commerce in an overhaul being led by top shareholder and board member Ryan Cohen.
  • GameStop's stock has gained more than 900% so far this year, giving the company a valuation of as much as $34 billion at one point as retail traders bet against Wall Street hedge funds that had shorted its shares.
Published 05 Apr, 2021 05:26pm
Indian shares tumble as virus worries return; financials slide
Stocks

Indian shares tumble as virus worries return; financials slide

  • The NSE Nifty 50 index ended 1.54% lower at 14,637.80, while the S&P BSE Sensex was down 1.74% at 49,159.32.
  • Bajaj Finance, IndusInd Bank and State Bank of India were the top percentage decliners on the Nifty 50, falling between 4.5% and 5.7%.
Published 05 Apr, 2021 05:26pm
People rejected PDM's agenda: says Faisal
Pakistan

People rejected PDM's agenda: says Faisal

  • Senator Faisal said for the very first time in the history, a sitting government was dealing with 'Mafias' with iron fist, adding,“things take time to change in a democracy".
Updated 05 Apr, 2021 04:49pm
Govt to complete its tenure: Rasheed
Pakistan

Govt to complete its tenure: Rasheed

  • He said opposition now won't be able to run any movement against the government as they were badly exposed in front of public with their hollow slogans.
Updated 05 Apr, 2021 04:49pm
India's daily virus cases breach 100,000 - mutants and behaviour blamed
South Asia

India's daily virus cases breach 100,000 - mutants and behaviour blamed

  • India reported a record rise in COVID-19 infections on Monday, becoming the second country after the United States to post more than 100,000 new cases in a day, as politicians stage massive election rallies raising fears of further spreading the virus.
  • The country’s daily infections have risen about 12 fold since hitting a multi-month low in early February, when authorities eased most restrictions and people largely stopped wearing masks and following social distancing.
Published 05 Apr, 2021 12:43pm
Pashtun students end sit-in
Pakistan

Pashtun students end sit-in

LAHORE: The Pashtun students, who had been holding a ‘sit-in’ outside the Governor House since March 6, ended...
Updated 05 Apr, 2021 10:45am
Maj-Gen Saqib promoted
Pakistan

Maj-Gen Saqib promoted

RAWALPINDI: Major General Saqib Mehmood Malik was promoted to the rank of Lt General. According to the Inter-Service...
Updated 05 Apr, 2021 10:45am
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