News Archives for Latest - 2021-04-12

Pakistan

USAID to complete 106 flood-hit schools in Sindh

ISLAMABAD: United States Agency for International Development (USAID) with the allocation of US $ 159.2 million has...

Updated 13 Apr, 2021 06:01am

Europe

France reports nearly 6,000 COVID-19 intensive care patients

France also reported 385 new coronavirus deaths in hospitals, compared to 176 on Sunday, taking the cumulative toll 99,135.

Updated 13 Apr, 2021 12:09am

Financial

Russia central bank says inflation shows it is right to seek return to 'neutral' policy

The central bank has said before that it sees its main interest rate as "neutral" at 5pc-6pc.

Updated 13 Apr, 2021 12:09am

Europe

Greece to receive first 33,600 doses of J&J COVID-19 vaccine this week

The Greek statement came as the U.S. company began delivering its vaccine to countries across the EU, a few days later than initially planned due to production issues.

Updated 13 Apr, 2021 12:09am

Europe

Spain to vaccinate 70-79 year olds with J&J's one-dose COVID-19 shot

J&J began delivering its vaccine to EU countries on Monday after some delays due to production issues, European Union officials and the company said.

Updated 13 Apr, 2021 12:09am

Commodities

Cotton dips, taking cues from weaker grain markets, favorable weather outlook

Speculators cut net long positions in ICE cotton futures by 3,164 contracts to 53,932 in the week to April 6, data from the Commodity Futures Trading Commission showed on Friday.

Updated 13 Apr, 2021 12:09am

Stocks

Stocks slip from record highs before U.S. bank earnings

The S&P 500's P/E ratio on a forward 12-month basis is 23.5, a more than 40pc premium to its 20-year average, according to CFRA.

Updated 13 Apr, 2021 12:09am

Business & Finance

HSBC bans customers from buying bitcoin-backer MicroStrategy shares

While HSBC will allow the holding, sale and outgoing transfer of MicroStrategy shares, it will forbid new purchases or incoming transfers, said the message dated March 29.

Updated 13 Apr, 2021 12:09am

Europe

Russia restricts flights to Turkey amid COVID-19 surge, political tensions

The decision to drastically cut the number of flights to Turkey, which is heavily reliant on foreign tourists as a source of income, comes against the backdrop of tensions over Ukraine.

Updated 13 Apr, 2021 12:09am

Pakistan

Two more coronavirus patients die in Faisalabad

He said that 1,515 tests for coronavirus were conducted in public and private sectors labs during the same period.

Updated 13 Apr, 2021 12:09am

Pakistan

Four new ministers included in provincial cabinet

He said that Government KP Shah Farman will administer oath to them at Governor House on Tuesday.

Updated 13 Apr, 2021 12:09am

Middle East

Ramadan moon sighted in Saudi Arabia

The Ramadan crescent moon has been sighted in Saudi Arabia, the Kingdom's Supreme Court announced on Monday. The first Ramadan in the kingdom will fall on Tuesday, April 13.
This will be the second year in a row when the holy month of Ramadan will be observed under strict coronavirus pandemic precautions.

Published 12 Apr, 2021 11:10pm

Energy

Oil rises nearly 2pc on US vaccine rollout, Middle East tension

US at 22% vaccinated; other countries further behind.
Yemen's Houthis say they attacked Saudi Aramco facilities.
Crude prices remain rangebound.

Published 12 Apr, 2021 09:46pm

Stocks

TSX opens lower on dip in gold prices

Toronto Stock Exchange's S&P/TSX composite index was down 34.4 points, or 0.18%, at 19,193.63.
Canada's Bank of Montreal said on Monday it had entered into an agreement with Ameriprise Financial Inc to sell its EMEA asset management business for about C$1.1 billion ($870 million) in an all-cash transaction.

Published 12 Apr, 2021 09:44pm

Stocks

FTSE 100 ends lower as miners track lower metal prices; C4X Discovery shines

British shops and pub gardens reopen as lockdown eases.
C4X Discovery ends at 18-month high on deal with Sanofi.
AstraZeneca falls after diabetes drug fails to meet main goal.
FTSE 100, FTSE 250 drop 0.4%.

Published 12 Apr, 2021 09:44pm

Stocks

Stocks slip from record highs before US bank earnings

MSCI's benchmark for global equity markets fell 0.25% from Friday's record high.
JPMorgan Chase & Co, the largest US bank by assets, reports earnings on Wednesday, as do Goldman Sachs Group Inc and Wells Fargo & Co. The S&P financials sector hit a record high on Monday before retreating in anticipation of bank results, which lead the US earnings season.

Published 12 Apr, 2021 09:24pm

Forex

C$ retreats after Friday's jobs data surge

Canadian dollar weakens 0.2% against the greenback.
Oil rises rise.
Canadian bond yields modestly higher across the curve.

Updated 12 Apr, 2021 09:40pm

Companies

Eli Lilly to focus on selling COVID-19 antibody drug combination

Lilly and the US government have agreed to modify their existing agreement to enable the supply of etesevimab to complement doses of bamlanivimab the US government had already purchased, the drugmaker said.
The earlier supply agreement for bamlanivimab has been terminated and cancels the remaining 350,856 doses of bamlanivimab that were scheduled to be delivered by the end of March 2021.

Published 12 Apr, 2021 09:15pm

Pakistan

PTI govt making efforts to bring improvement in life of common man: Farrukh Habib

He said that a 12 percent increase in the volume of the country's exports had been recorded during the last six months.

Published 12 Apr, 2021 09:15pm

Companies

Alibaba shrugs off $2.75bn antitrust fine, shares rally

Alibaba sees no material impact from changes in exclusivity.
US listed shares rise nearly 9% as uncertainty removed.
Alibaba and peers still under review for M&A deals.

Published 12 Apr, 2021 09:12pm

Pakistan

Zartaj Gul calls on CEO PIA

Zartaj Gul said that with Public Private Partnership and Business Community’s participation, the infrastructure and facilities at the airport could be improved.

Published 12 Apr, 2021 09:14pm

Pakistan

SC rejects petition seeking share in late brother's property

During the course of proceedings, the counsel for the petitioner said after his brother's death in a plane crash, all property went to his wife and children.

Published 12 Apr, 2021 09:10pm

Sports

Cavani proves he is Man Utd's best bet as lead striker

Cavani, a free agent after leaving Paris St Germain as their record goalscorer, found no suitors until United stepped in after failing to land Erling Haaland and Jadon Sancho last year.
"Injustice never wins," Cavani said as the victory sealed United's ninth comeback win in the league this season, sparked by his excellent performance that helped ensure United remain unbeaten away from home and seven points above third spot.

Published 12 Apr, 2021 09:10pm

Commodities

EU 2020/21 soybean imports at 11.50mn tonnes by April 11, rapeseed 5.32mn tonnes

Since Jan. 1, the European Commission's data has covered the EU's 27 countries only, whereas previous figures up to Dec. 31 covered both the EU-27 and Britain.
EU rapeseed imports in 2020/21 had reached 5.32 million tonnes, compared with 5.06 million a year ago.

Published 12 Apr, 2021 09:08pm

Pakistan

Setting up STZs to facilitate IT industry: PM

He expressed the confidence that the policies of his government would ensure progress in the IT sector as there was no dearth of resources and talent in Pakistan.

Updated 12 Apr, 2021 09:10pm

Commodities

EU 2020/21 soft wheat exports 20.81 million tonnes by April 11

*That was down from 27.56 million tonnes cleared by the same week last season, the data showed. * Since Jan. 1, the European Commission's data has covered the EU's 27 countries only, whereas previous figures up to Dec. 31 covered both the EU-27 and Britain.

Published 12 Apr, 2021 09:06pm

Stocks

S&P 500, Dow ease from record levels; earnings, data in focus

Tesla rises after Canaccord Genuity upgrade.
Alibaba shrugs off $2.75 bln antitrust fine, shares jump.
Big bank earnings to kick off from Wednesday.
- Indexes down: Dow 0.13%, S&P 0.10%, Nasdaq 0.45%.

Published 12 Apr, 2021 09:04pm

Money & Banking

BoE's Tenreyro says removing policy support too early could be costly

"One lesson that we learned from the financial crisis is that withdrawing policy support too early can be very costly," Tenreyro said in an online discussion hosted by Swedish think tank SNS.
"Withdrawing it too early ... can lead to scarring effects on the labour market that would be very costly and slow down growth going forward," she added.

Published 12 Apr, 2021 09:03pm

Money & Banking

BMO to sell EMEA asset management unit for $870mn to focus on North America

Canada's fourth-largest lender will take a C$745 million write-down of goodwill after tax in the second quarter of fiscal 2021 as a result of the transaction, which is expected to close in the fourth quarter of calendar 2021, BMO said.
Concentrating on the North American market, and Canada in particular, is the right strategic decision.

Published 12 Apr, 2021 08:59pm

Money & Banking

Croatia central bank lifts growth forecast for 2021 to 5.9pc

"We expect a stronger recovery of domestic demand this year," the central bank said in a statement.
It said some risks remained related to the results of the summer tourism season, which is seen bringing higher income than was the case last year. The worst case scenario envisages growth of just 2.8%, the bank said.

Published 12 Apr, 2021 08:56pm

Commodities

Mexico coffee leader touts state control of prices to help farmers

Price controls for coffee were mostly abandoned years ago due to the difficulty of reaching global agreements on supply, exposing farmers to sharp price crashes. In 2019, the world's third-largest producer, Colombia, introduced subsidies for coffee growers and, along with Brazil, called for supply caps.
Lopez Obrador has authorized price floors for other agricultural commodities, including Mexico's staple corn, but has to yet to carry through on most of his coffee campaign promises.

Published 12 Apr, 2021 08:54pm

Europe

German CDU backs Laschet to succeed Merkel as chancellor

Laschet enjoys "broad support" from CDU and Bavarian CSU.
Parties want quick agreement on their chancellor candidate.
Bavarian premier Soeder also wants to be candidate.
Laschet says he will speak to Soeder.

Published 12 Apr, 2021 08:52pm

Forex

Dollar dips before inflation data, Treasury supply

The dollar's performance has been tied to US Treasury yields for most of 2021, after concern about rising inflation in the United States and a stimulus-fuelled economic rebound triggered a jump in Treasury yields.
The dollar index was last down 0.11% against a basket of currencies at 92.108. It is holding above a three-week low of 91.995 reached on Thursday.

Published 12 Apr, 2021 08:50pm

Financial

Foreigners' share in Russia's OFZ bonds shrinks in March to lowest since 2015

Foreign investors' share of Russian debt has been on decline for months and its slide accelerated recently amid intensified fears of fresh US sanctions against Moscow.
"The largest exodus (of foreign investors) from the Russian market was observed on particular days with increased volatility due to geopolitical risks," the central bank said in a report on financial markets.

Published 12 Apr, 2021 08:49pm

Money & Banking

India market regulator fines Yes Bank for fraudulent sale of riskier bonds

Yes Bank "deliberately misrepresented" its so-called AT1 bonds as being more attractive than fixed deposits by suppressing risks and distorting facts, manipulating customers into investing in these risky assets, the Securities and Exchange Board of India (SEBI) said in an order.
AT1 bonds have quasi-equity characteristics and typically carry higher interest rates than more senior debt as investors risk losing their investment if the funds are needed to bolster a bank's capital.

Published 12 Apr, 2021 08:47pm

Companies

Uber Bookings rose by 9pc in March

Uber has reported an increase of 9 percent in bookings for its ride-hailing business during March.

Updated 12 Apr, 2021 08:49pm

Companies

Samsung SDI to supply battery cells to EV startup Rivian

Rivian, which aims to put an electric pickup and SUV in production this year, said it had been working with Samsung throughout the process of developing the battery cells.
"We're excited about the performance and reliability of Samsung SDI battery cells combined with our energy-dense module and pack design," said RJ Scaringe, chief executive officer of Rivian.

Published 12 Apr, 2021 08:45pm

Money & Banking

Bank of Canada survey: Q1 business sentiment improved, many firms see pandemic harm behind them

The survey, conducted before new restrictions came into effect earlier this month to tackle a third wave, found sales were at or above pre-pandemic levels for 64% of businesses.
Still, nearly 20% of firms - many in high-contact services like tourism and non-essential retail - do not expect their sales to return to pre-pandemic levels in the next 12 months.

Published 12 Apr, 2021 08:41pm

Forex

Sterling recovers as shops in England reopen

The pound was at 86.68 pence per euro, up 0.2% on the day but still weaker than when it hit a one-year high of 84.720 this time last week.
Against the dollar, the pound was up around 0.3% at $1.3746 .

Published 12 Apr, 2021 08:40pm

USA

Biden makes nominations for top cyber posts

"We are determined to protect America's networks and to meet the growing challenge posed by our adversaries in cyberspace - and this is the team to do it," White House national security adviser Jake Sullivan said in a statement.
Easterly and Inglis are experienced cybersecurity experts with decades of service in government. Both previously worked at the National Security Agency in senior positions.

Published 12 Apr, 2021 08:38pm

Financial

Romania rejects all bids at March 2036 bond tender

The finance ministry, which had planned to sell 200 million lei of the bonds received bids worth 412.6 million lei ($99.95 million) in total.
So far this year, Romania has sold roughly 18.8 billion lei and roughly 1.48 billion euros worth of domestic bonds, and has tapped foreign markets for 3.5 billion euros worth of 12- and 20-year eurobonds.

Published 12 Apr, 2021 08:36pm

Companies

Veolia, Suez agree $15 billion utilities merger after bitter spat

Merger of French waste and water cos ends months of wrangling.
Comes after Veolia lifted its bid price.
Some Suez assets to be spun off into a new entity.
Veolia shares up more than 9% by 1423 GMT; Suez shares rise 7.8%.

Published 12 Apr, 2021 08:34pm

USA

Mexico, Honduras, Guatemala to increase troops along borders: White House official

Special Assistant to the President for Immigration for the Domestic Policy Council Tyler Moran earlier told MSNBC: "We've secured agreements for them to put more troops on their own border. Mexico, Honduras and Guatemala have all agreed to do this," CNN reported separately.

Published 12 Apr, 2021 08:32pm

Commodities

Gold slips as firmer US yields dull appeal

US CPI data due on Tuesday.
US economy at "inflection point," Fed chair says.

Published 12 Apr, 2021 08:30pm

Companies

Denmark to order 100 electric trains from Alstom in $3.2bn deal

"With the order of new electric trains we can look forward to retiring the aging diesel trains in a few years," the chairman of DSB, Peter Schütze, said in a statement.
The new trains, which will each comprise five carriages, are scheduled to enter service in late-2024 with the last deliveries due in 2030, DSB said, adding the deal included service and maintenance.

Published 12 Apr, 2021 08:28pm

Forex

Latam FX firm, Ecuador bonds rally after surprise election result

Ecuador July 2035 bonds rise 13 points to 61 – trader.
Guillermo Lasso wins presidential runoff.
Peruvian sol slumps 2%.
Far-left Peruvian presidential candidate set to win first-round.

Published 12 Apr, 2021 08:26pm

Money & Banking

EIB to manage 5 billion euros of Greece's EU recovery funds

"It's in fact the first EIB cooperation to implement investments by the recovery and resilience facility anywhere in Europe," Christian Kettel Thomsen Vice-President of the EIB said during a webcast signing ceremony with the leadership of the Greek Finance Ministry.
The Greek state will set eligibility criteria for future investments and the EIB will proceed with the financing of the projects, Deputy Finance Minister Theodore Skylakakis said

Published 12 Apr, 2021 08:23pm

Pakistan

Protests erupt in multiple cities after TLP Chief Saad Rizvi's arrest in Lahore

The Lahore Police has arrested Saad Hussain Rizvi, the chief of Tehreek-e-Labbaik Pakistan (TLP), from a mosque near his residence, a party spokesperson confirmed on Monday.
Pir Ejaz Ashrafi, the TLP spokesperson told media that Rizvi was apprehended after Zuhar prayers from Jamia Masjid Rehmat ul Aalameen situated on Multan Road, Lahore.

Updated 12 Apr, 2021 08:25pm

Financial

China extends crackdown on Jack Ma's empire with enforced revamp of Ant Group

Ant Group to become a financial holding firm.
China tightening controls on 'platform economy'.
Revamp is stricter than expected – analyst.

Published 12 Apr, 2021 08:21pm

Financial

Russia's Sovcomflot ready to buy back up to $400mn of Eurobond-2023

The company is ready to buy back up to $400 million of Eurobond-2023, to finance it via new issue;
The offer price is $1,072.25 per paper of a nominal price of $1,000;

Published 12 Apr, 2021 08:19pm

USA

IMF's Okamoto says aiming to distribute SDR reserves this summer

Okamoto told reporters following IMF and World Bank Spring Meetings that the allocation, backed last week by G20 countries, will especially aid middle-income countries that need to refinance debt amid potentially tighter financial conditions.

Published 12 Apr, 2021 08:17pm

Sports

Barcelona pip Real Madrid to become world's most valuable club

Real Madrid, who have topped the list five times in the past, edged Barcelona 2-1 in 'El Clasico' on Saturday but find themselves second best off the pitch with a valuation of $4.75 billion.
"The pain is far from over, with a worsening decline in matchday revenue during the current season, as most of the teams in Europe's top leagues still permit few fans to attend games," wrote Forbes' assistant managing editor Mike Ozanian.

Published 12 Apr, 2021 08:13pm

Companies

GM marketing spend will return to normal levels post pandemic

What we went through in the pandemic was certainly severe and we should be moving back up to our normalized levels.
GM's Wahl also said the No. 1 US automaker will offer a third-party app that delivers in-vehicle navigation capability to about 900,000 vehicles that lack the feature.

Updated 12 Apr, 2021 08:16pm

Business & Finance

Microsoft to buy artificial intelligence firm Nuance for $19.7bn

Shares of Nuance surged 19.2 percent to $54.32 in pre-market trading, while Microsoft edged up 0.2 percent to $256.24.

Published 12 Apr, 2021 08:07pm

Europe

Turkey calls on Canada to review defence industry restrictions

Turkey's foreign ministry at the time described it as a double standard and President Tayyip Erdogan said it was not in line with the spirit of their alliance..
"He conveyed concerns about Canada's stance on defence industry restrictions imposed on Turkey and requested their review," the foreign ministry said.

Updated 12 Apr, 2021 08:13pm

USA

Biden to meet with CEOs on semiconductor shortage

Biden administration officials also intend to make a case for the president's $2 trillion infrastructure package.

Published 12 Apr, 2021 08:06pm

Stocks

US stocks dip ahead of earnings, data deluge

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 33,768.08.

Published 12 Apr, 2021 08:04pm

Stocks

European stocks steady ahead of earnings season

London nudged lower in afternoon trading, while Frankfurt and Paris were barely in the black.

Published 12 Apr, 2021 08:01pm

Middle East

Jordan's Prince Hamzah not to face trial: PM

Lawmakers who attended the meeting also quoted Prime Minister Bisher al-Khasawneh as denying there had been an "attempted coup".

Published 12 Apr, 2021 07:58pm

Middle East

Iran accuses Israel of sabotage at nuclear site, vows revenge

Israel strongly opposes the 2015 Iran nuclear deal and has vowed to stop Iran from building an atomic bomb -- a goal Tehran has always strongly denied pursuing.

Published 12 Apr, 2021 07:56pm

World

EU sanctions 8 Iranian security officials over 2019 crackdown

The listing said Guards commander Hossein Salami "bears responsibility for serious human rights violations".

Published 12 Apr, 2021 07:53pm

Pakistan

Court removes anti-terrorism clauses in Osma Satti murder case

The court also dismissed a bail case of co-accused Muddasar in the murder case while announcing the verdict.

Published 12 Apr, 2021 07:53pm

Pakistan

IHC postpones routine cases till May 16

The registrar office of IHC issued a notification in this regard following the instructions of Chief Justice Athar Minallah.

Published 12 Apr, 2021 07:51pm

Pakistan

LHC summons FIA's investigation officer on Meesha Shafi plea

The single bench comprising Justice Tariq Saleem Sheikh heard the petition, filed by the singer and others.

Published 12 Apr, 2021 07:50pm

Pakistan

ECP to receive Badin-I bye-poll postal ballot papers by May 7

It said that applications for postal ballot should be made on the prescribed form with the Returning Officer of constituency PS-70 Badin-I.

Published 12 Apr, 2021 07:49pm

Pakistan

Court summons witnesses in Safa Gold Mall reference

NAB Prosecutor Mirza Usman Masood pleaded that the two floors of Safa Gold Mall were constructed in violation of laws.

Published 12 Apr, 2021 07:48pm

Pakistan

IHC seeks comments in lawyer's bail case

The court served notices to respondent and sought their reply till next date of hearing.

Published 12 Apr, 2021 07:47pm

Pakistan

SECP amends ‘Murabaha Share Financing Regulations’

This will facilitate Islamic Financial Institutions (IFIs) and market participants to execute sale transactions with more ease and comfort.

Published 12 Apr, 2021 07:46pm

Pakistan

Reference against Pervaiz Ashraf adjourned till May 4

The court directed all the accused to ensure their attendances on next date of hearing for indictment process.

Published 12 Apr, 2021 07:45pm

Pakistan

Pakistan, IMF discuss way forward for economic reforms

The managing director IMF said it was great to speak with Hammad Azhar and Dr Reza Baqir. She commended Pakistan's response to the health and economic crisis.

Published 12 Apr, 2021 07:44pm

Pakistan

NA body approves proposed PSDP of ministry for FY 2021-22

The committee discussed and deliberated upon the PSDP of Ministry of National Food Security and Research for the year 2021-22 and accorded its approval.

Published 12 Apr, 2021 07:43pm

Pakistan

Polio campaign to be made successful by public cooperation: Bushra Rind

She said provincial government under the leadership of Chief Minister Balochistan was taking practical measures to eradicate the polio disease by polio campaign from the respective areas.

Published 12 Apr, 2021 07:40pm

Pakistan

No covid death reported in Sindh

Shah said that 8,642 samples were tested which detected 348 cases that constituted 4 percent current detection rate.

Updated 12 Apr, 2021 07:41pm

Europe

J&J begins COVID-19 vaccine supplies to EU, 50mn doses expected in Q2

The company had initially planned to start its deliveries at the beginning of April, but delayed the rollout due to production issues.
"Johnson & Johnson begins vaccine shipments to the EU today. Very good news," said Peter Liese, an EU lawmaker from the same party as German Chancellor Angela Merkel.

Published 12 Apr, 2021 07:31pm

Europe

Brazil, Mexico, Philippines among those due to get Pfizer shots from COVAX in Q2

Brazil, Colombia, Mexico, the Philippines, South Africa, and Ukraine are set to be among the main recipients of the Pfizer vaccine between April and June, according to GAVI's table "based on current knowledge of COVID-19 vaccine supply availability".

Published 12 Apr, 2021 07:29pm

Industry

Holt to head KPMG's UK arm ahead of Carillion probe outcome

"Now is the time to challenge ways of working and use what we've learnt during the pandemic to really drive positive action," Holt said in a statement.
It indicates the regulator has found breaches of auditing standards and is giving KPMG time to respond before it makes a final decision on whether to pursue enforcement action and financial penalties.

Published 12 Apr, 2021 07:26pm

Sports

EFL play-off finals set for May 29-31 at Wembley

The Championship playoff final will be held on May 29, followed by the playoff final for League One and League Two on May 30 and May 31 respectively.
The playoffs will begin on May 17 after the conclusion of the regular season in the Championship, League One and League Two, with the first legs in all three divisions due to be completed by May 20. The second legs will take place between May 21-23.

Published 12 Apr, 2021 07:25pm

Money & Banking

Creval investor DGFD asks Credit Agricole to up bid price

The Italian arm of Credit Agricole in November said it would spend 737 million euros ($868 million), or 10.5 euros per share, on Creval to expand its presence in Italy's consolidating banking sector, its biggest market outside France.
DGFD, which owns around 6% of the Italian bank, joins a number of other Creval shareholders who already rejected the offer as too low.

Published 12 Apr, 2021 07:23pm

Stocks

Italian high-tech company SECO to list 40-45pc of share capital

Tuscany-based SECO plans to sell up to 37.8 million shares, of which up 27 million will be newly issued. The size of the offer could be increased by up to 15% through an overallotment option.
The company aims at a market capitalization of 400-500 million euros ($476-595 million) after the capital increase, a source close to the matter said.

Published 12 Apr, 2021 07:20pm

Money & Banking

Italian banks boost corporate lending and domestic bond holdings

Loans to non-financial companies rose by 7.6% year-on-year, accelerating from a 7.3% rise in January, the monthly Bank of Italy report on domestic banks' balance sheets showed.
The growth in corporate lending is reversing a trend of sharp contraction over the last decade, driven by guarantees that Rome is providing to support the economy in the face of the COVID-19 epidemic.

Published 12 Apr, 2021 07:17pm

Companies

Citroen hopes new C5 X large sedan will help inspire sales revival

Citroen, part of the Stellantis group created earlier this year from the merger of PSA Group and Fiat Chrysler, said on Monday it will manufacture the C5 X in the city of Chengdu in China.
The C5 X - the first new vehicle to be launched since Stellantis was formed in January - will go on sale in the second half of the year in China and European markets. It will be available in both petrol and plug-in hybrid versions.

Published 12 Apr, 2021 07:15pm

Companies

United Airlines sees first-quarter revenue falling 66pc

The company said it now expects first-quarter revenue to fall 66% to $3.2 billion from the same period in 2019. It had previously forecast a drop of between 65% and 70%.
The airline said its average daily cash burn for the quarter is expected to be about $9 million per day, an improvement of about $10 million compared to the fourth quarter of 2020.

Published 12 Apr, 2021 07:08pm

Industry

After sanctions, Huawei turning to businesses less reliant on high-end US tech

We cannot develop our strategy based on either a groundless assumption or on unrealistic hopes, because if we do that, and if we cannot be taken off from the entity list, it's going to be extremely difficult for the company.
The company's autonomous driving technology allows cars to travel over 1,000 kilometers, overtaking Tesla in that area, Xu said.

Published 12 Apr, 2021 07:06pm

Pakistan

Pakistan’s exports to Germany show 8.79pc increase in 8 months

The overall exports to Germany were recorded at $989.729 million during July-February (2020-21) against exports of $909.755 million during July-February (2019-20).

Published 12 Apr, 2021 07:09pm

Pakistan

COVID-19 case positivity ratio reaches 10pc in country: Dr Faisal

He said that this time is not of any complacency rather strict compliance of SOPs.

Published 12 Apr, 2021 07:08pm

Pakistan

No shortage of equipments despite severe third wave of COVID-19: Fawad

We could get this self-sufficiency through the collaborative efforts of the Ministry of Science and Technology, the defense establishment and the private sector, Fawad said.

Published 12 Apr, 2021 07:06pm

Europe

Czech schools, shops reopen after long COVID-19 shutdown

A six-month state of emergency expired at midnight, lifting restrictions on movement including a night-time curfew and a ban on non-essential travel among districts.
Children in pre-schools and grades 1-5 returned to school, mostly on a weekly rotating basis. Pupils must take a nasal swab test twice a week.

Published 12 Apr, 2021 07:03pm

Pakistan

COVID-19 claims 58 lives, infects 4,584 more people

During the last 24 hours most of the deaths had occurred in Khyber Pakhtunkhwa followed by the Punjab.

Published 12 Apr, 2021 07:05pm

Pakistan

Covid claims 16 lives, 2,021 new cases in Punjab

The Punjab health department has so far conducted 3,930,109 tests for the COVID-19.

Published 12 Apr, 2021 07:03pm

Pakistan

SC dismisses WAPDA employees' pleas seeking allowance

The court after hearing arguments dismissed the appeals of the employees.

Published 12 Apr, 2021 07:02pm

Companies

Ingersoll Rand to sell Club Car business for $1.68bn

The deal for Club Car, which Ingersoll Rand acquired in 1995, is the latest in a series of divestitures that chief executive officer Vicente Reynal has embarked on to streamline the company's portfolio following the merger of its industrial business with Gardner Denver Holdings Inc.
"Demand for electric vehicles across many product platforms and geographies is at an all-time high," said Club Car President Mark Wagner, who will continue to lead the company under Platinum Equity's ownership.

Published 12 Apr, 2021 06:51pm

Pakistan

Islamabad Space Observatory to help in moon sighting on Ramazan, Eid: Fawad

The federal minister observed that the field of Astronomy has remained close to the hearts of the Muslim Scientists and Muslim kings gave a great place to astronomers.

Published 12 Apr, 2021 06:59pm

Pakistan

Tax targets to be achieved before end of financial year: Provincial Minister for E&T

In the same head, Rs. 188.530 million was collected from Sukkur and Rs. 75.875 million from Shaheed Benazirabad.

Published 12 Apr, 2021 06:57pm

Pakistan

KP plans to generate 1400mw electricity: Minister

On completion, he said a tangle and positive change would take place in Khyber Pakhtunkhwa.

Published 12 Apr, 2021 06:54pm

Pakistan

Attorney General calls on PM, briefs on important cases

The prime minister observed that everyone should have respect for the verdicts of courts whether these were delivered in one’s favour or against.

Published 12 Apr, 2021 06:53pm

Pakistan

Gold prices decline Rs600 to Rs103,500 per tola

There was no change in the price of per tola and ten gram silver.

Published 12 Apr, 2021 06:52pm

Africa

Africa must expand medical manufacturing capacity

Ramaphosa, the African Union's COVID-19 champion and leader of the African country hardest hit by the virus, said there were lessons to learn from the pandemic.
"We also need to forge sustainable partnerships with entities in both the developed world as well as the developing world," he said.

Published 12 Apr, 2021 06:49pm

Pakistan

PSX loses 208 points to close at 44,978 points

As many as 387 companies’ transacted shares in the stock market, 130 of them recorded gain and 234 sustained losses.

Published 12 Apr, 2021 06:50pm

Pakistan

LHC disposes of Maryam Nawaz's bail plea in Jatti Umra land case

The bench questioned the prosecutor whether the bureau had issued warrants for arrest of Maryam Nawaz in the case.

Published 12 Apr, 2021 06:49pm

Sports

Pochettino hoping PSG's home form will improve against Bayern

The French champions advanced from the last 16 with a 4-1 away win in the first leg against Barcelona before suffering in the return leg at home in a 1-1 draw.
"It is something we will have to look into at the end of the season but let's hope things start turning around tomorrow."

Published 12 Apr, 2021 06:47pm

Pakistan

Sheikh Rashid meets Buzdar, discusses Pindi uplift projects

The federal interior minister appreciated the steps and termed the public welfare initiatives praiseworthy.

Published 12 Apr, 2021 06:48pm

Europe

'I'm so excited' - England reopens with pints pulled, shopping sprees and hair cuts

English shops and pub gardens reopen as lockdown eases.
Hundreds of people queue for Primark and JD Sports.
Drinkers lift a pint after midnight as pubs open.
It's like a birthday - hairdresser says.

Published 12 Apr, 2021 06:44pm

Pakistan

Comprehensive bill to ensure producers, artists get their royalties: Faisal

Faisal said that most countries around the world give royalties residuals to artists every time a show, their work is re-run, a second time or more.

Published 12 Apr, 2021 06:47pm

Pakistan

Worker's remittances surge by 43pc in March

The remittances in March 2021 also increased by 20 percent compared to the last month (February) when the inflows were recorded at $2.226 billion.

Published 12 Apr, 2021 06:45pm

Pakistan

Industry-academia linkages crucial to provide jobs to young graduates: Swati

The minister said this MoU will prove as highly beneficial in terms of addressing the key issues being faced by the ministry through utilizing the expertise of researchers of NUST.

Published 12 Apr, 2021 06:44pm

Industry

Ant Group to overhaul business as Beijing clamps down

Apply to set up a financial holding company to ensure its financial-related businesses are fully regulated.
'Jiebei' and 'Huabei', the company's two credit subsidiaries, will be run by its consumer finance company which will be operated in compliance with relevant laws and regulation.

Published 12 Apr, 2021 06:42pm

Pakistan

Peace cannot be established on dead bodies of Kashmiris: AJK President

He further said those who were being settled in Kashmir illegally by India right now would have no right to participate in the referendum.

Published 12 Apr, 2021 06:42pm

Money & Banking

Brazil's 2021 interest rate outlook rises to 5.25pc, survey shows

The median forecast for the benchmark Selic rate from over 100 economists in the central bank's weekly 'FOCUS' survey increased from 5.00% the week before, and 4.50% four weeks ago.
The 'FOCUS' survey on Monday also showed economists' average year-end inflation forecast inching up to 4.9% from 4.8%, even further above the central bank's goal of 3.75%.

Published 12 Apr, 2021 06:39pm

Pakistan

SBP announces ‘bank holiday’ on 1st Ramazan

All banks / DFIs / MFBs shall, therefore, remain closed for public dealing on 1st Ramadan-ul-Mubarak, said a statement.

Published 12 Apr, 2021 06:41pm

Pakistan

PSX hosts Gong ceremony to mark beginning of cooperation between SBP, PSX on multiple initiatives

He said that among other privileges offered to primary dealers, a larger and more diverse group of institutions will now have direct access to primary auctions.

Published 12 Apr, 2021 06:37pm

Sports

Persepolis target third final as Champions League returns

Yahya Golmohammadi's side return to the continental fray after slipping to defeat by South Korea's Ulsan Hyundai in the 2020 final two seasons after losing to Japan's Kashima Antlers.
The Tehran club face a tricky Group E opener against Henk Ten Cate's Al Wahda of the United Arab Emirates in Margoa.

Published 12 Apr, 2021 06:37pm

Stocks

Software maker UiPath aims for nearly $26bn valuation in US IPO

The New York-based company plans to sell 21.3 million shares priced at between $43 and $50 per share, raising about $1.06 billion. UiPath was valued at $35 billion during a funding round earlier this year.
It will list its shares on the New York Stock Exchange under the symbol "PATH". Morgan Stanley and J.P.Morgan are the offering's lead underwriters.

Published 12 Apr, 2021 06:35pm

Pakistan

Interior Minister, Punjab CM discuss law and order situation

The Interior Minister said the steps taken by the Punjab government for the welfare of the people are commendable.

Published 12 Apr, 2021 06:36pm

Pakistan

PTI Govt introduces another landmark reform of Pakistan Single Window Act 2021: PM

The Prime Minister said an independent authority will manage the Pakistan Single Window, which will be pivotal in unlocking Pakistan's potential to become a hub for international transit and trade.

Published 12 Apr, 2021 06:35pm

Europe

Spain to vaccinate 70-79 year olds with J&J's COVID-19 shot

Spain will take a first delivery of 300,000 doses of the single-shot vaccine on Wednesday morning, Carolina Darias told reporters at Gran Canaria airport after a visit to the Spanish Canary Islands.
Johnson & Johnson began delivering its vaccine to EU countries on Monday after some delays due to production issues, European Union officials and the company said.

Published 12 Apr, 2021 06:33pm

Pakistan

Pakistan wishes more economic linkages with Germany: FM

Qureshi thanked Germany for supporting Pakistan at FATF and also its support to grant EU GSP Plus status to Pakistan.

Published 12 Apr, 2021 06:34pm

Pakistan

Govt pursuing economic diplomacy to attract investment: FM

Qureshi said Pakistan is an emerging market of two hundred and twenty million people where plenty of investment opportunities exist.

Published 12 Apr, 2021 06:25pm

South Asia

China March new bank loans rise but broad credit growth eases

March new loans 2.73 trln yuan vs forecast 2.45 trln yuan.
Q1 new loans at record high - Reuters calculations.
March M2 money supply +9.4% y/y, vs forecast of +9.6%.
Outstanding TSF +12.3% Y/Y, vs 13.3% in Feb.
March TSF 3.34 trln yuan, vs forecast 3.70 trln yuan.

Published 12 Apr, 2021 06:31pm

Stocks

Brazil's Hapvida approves potential $470mn share offering

The offering would combine primary and follow-on offerings, Hapvida said in Sunday's filing, adding that it would use the proceeds of the primary offering to finance current and future acquisitions.

Published 12 Apr, 2021 06:27pm

Europe

Britain opens official probe into former PM Cameron's lobbying

The probe is likely to be independent and carried out on behalf of the Cabinet Office, the BBC said. Reuters has not been able to independently verify the reports.
In his first comments on the row on Sunday, Cameron said that in his representations to government he was breaking no codes of conduct and no government rules.

Published 12 Apr, 2021 06:26pm

Europe

Germany's Merkel says third wave of pandemic may be toughest

"Testing will help us to build a bridge until vaccinations start to take effect," she said.
The further development of Germany's economy would depend on whether the country can bring the infection rate under control.

Published 12 Apr, 2021 06:23pm

Pakistan

Country witnesses increase of 26pc in remittances: PM

He said the overseas Pakistanis sent over two billion dollars for tenth straight months despite Covid-19, breaking all records.

Published 12 Apr, 2021 06:25pm

Pakistan

Dr Faisal appeals people to comply with SOPs to avert spread of COVID-19

He said the process of vaccination is underway and asked the people aged above sixty five to get themselves vaccinated without any appointment.

Updated 12 Apr, 2021 06:24pm

Stocks

Vingroup eyes $60 bln valuation for car unit in potential US IPO

*Vingroup, which was founded in 1993 in Ukraine, is working with Credit Suisse Hong Kong for the potential offering on the New York Stock Exchange, the sources said. * VinFast became Vietnam's first fully fledged domestic car manufacturer when its first gasoline-powered models built under its own badge hit the streets in 2019.

Published 12 Apr, 2021 06:20pm

Financial

Abu Dhabi Mubadala investment record high in 2020

"We've invested more in 2020 than we have ever done in one year prior to that," Khaldoon Khalifa al-Mubarak told a virtual event organised by Bahrain's Investcorp.
He said the company took a 6-8 week pause in March 2020 as the pandemic hit and took the time to understand the ramifications of the pandemic at a macro level and on Mubadala's portfolio.

Published 12 Apr, 2021 06:18pm

Money & Banking

Turkish central bank to keep policy rate at 19pc this week

Five of 14 respondents see cut before mid-year.
Policy rate seen at 15% at year-end.
Surprise cut this week could lead to sharp lira sell-off.

Published 12 Apr, 2021 06:16pm

Europe

UK, EU talks on N.Ireland are constructive, differences remain

"The discussions have been constructive but there are still significant differences that need to be resolved," the spokesman told reporters, adding that British negotiator David Frost had spoken to European Commission vice president Maros Sefcovic on Friday.

Published 12 Apr, 2021 06:13pm

Commodities

London cocoa hits 5-month low on supply surplus, raw sugar gains

May London cocoa fell 0.5% to 1,590 pounds per tonne at 1305 GMT, having hit its lowest since mid-November at $1,586.
Ivory Coast's cocoa grind, a measure of demand, stood at 293,000 tonnes by end March versus 282,000 tonnes last season, data from the exporters' association GEPEX showed.

Published 12 Apr, 2021 06:10pm

Europe

UK's Johnson commissions independent review into lobbying

"The Cabinet Office is commissioning an independent review on behalf of the prime minister to establish the development and use of supply chain finance and associated activities in government and the role Greensill played in those," he told reporters.
This independent review will also look at how contracts were secured and business representatives engaged with government. It will be led by legal expert Nigel Boardman.

Published 12 Apr, 2021 06:09pm

Commodities

More rain needed to strengthen Ivory Coast cocoa mid-crop, say farmers

Farmers said more downpours this month would be crucial to avoid a decline in the harvest from July and to improve the quality of the beans, especially since temperatures have been high.
"The trees need more rain because it's very hot," said Kouassi Kouame, who farms in the western region of Soubre, at the heart of the cocoa belt.

Published 12 Apr, 2021 06:06pm

Middle East

Israel's Netanyahu says will not allow Iran to obtain nuclear weapons

The Israeli leader, addressing reporters with visiting US Defense Secretary Lloyd Austin at his side, made no comment about Iran's accusation that Israel had sabotaged its key Natanz nuclear site.

Published 12 Apr, 2021 06:04pm

Commodities

Palm slumps 3pc to one-week low as March stocks exceed estimates

End-March stocks, production rise more than expected
Buying in India slows due to surge in COVID-19 cases

Published 12 Apr, 2021 06:02pm

Energy

Oil rises but remains rangebound as COVID-19 cases soar

However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
"Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.

Published 12 Apr, 2021 05:59pm

Companies

At Brazil's Petrobras, a 'Spartan' military man takes the reins

President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in February.
Petrobras shares fell sharply when Luna's predecessor, Roberto Castello Branco, was forced out after the group hiked domestic fuel prices several times in February, angering Bolsonaro.

Published 12 Apr, 2021 05:57pm

Commodities

Gold eases as US yields hold firm; inflation data in focus

Markets look to US CPI data on Tuesday.
US producer prices hit 9-1/2-year high.
US economy at "inflection point", says Fed Chair.

Published 12 Apr, 2021 05:54pm

Companies

China March copper, lead and zinc output up y/y

The 22 smelters in its copper production survey churned out 792,800 tonnes of cathodes last month, up from a low base in coronavirus-affected March 2020 and a 28-day February in 2021.
A slight increase in maintenance this month will see April cathode output fall to around 780,000 tonnes, Antaike said.

Published 12 Apr, 2021 05:52pm

South Asia

Bangladesh shuts down offices, transport amid pandemic surge

The South Asian nation of 160 million people has recorded 684,756 cases and 9,739 deaths, but the number of daily cases has increased sevenfold in a month.

Published 12 Apr, 2021 05:48pm

Commodities

Copper loses ground on fears of Chinese commodities price caps

Benchmark copper on the London Metal Exchange (LME) shed 0.4% to $8,893.50 a tonne in official trading.
Copper has gained about 30% over the past five months, having touched a 9-1/2 year peak of $9,617 in late February.

Published 12 Apr, 2021 05:50pm

Commodities

Russian wheat export prices rise with global benchmarks

Russian wheat with 12.5% protein loading from Black Sea ports for supply in April was at $247 a tonne free on board (FOB) at the end of last week, up $2 from the previous week, IKAR said.
Sovecon, another consultancy, said barley prices fell by $2 to $233 a tonne.

Published 12 Apr, 2021 05:47pm

Business & Finance

France's Sanofi to invest 400mn euros in Asia vaccine plant

Sanofi dealt a huge blow to France's pride in its pharmaceutical sector by being trounced in the race to develop a Covid-19 vaccine.

Published 12 Apr, 2021 05:44pm

Forex

Russian rouble pares losses as geopolitical risks linger

Rouble was 0.4% stronger against the dollar at 77.09, moving away from its weakest level since Nov. 5 of 78.0450, which it touched last week.
The rouble decoupled recently from moves in other emerging markets as well as the price of crude oil, Russia's key export, as it was hammered by fears about the situation in Ukraine.

Published 12 Apr, 2021 05:47pm

South Asia

India overtakes Brazil, Bangladesh orders shutdown as surge hits South Asia

India reported a new daily record of more than 168,000 cases on Monday to take the total toll to 13.5 million cases, above Brazil's 13.48 million.

Published 12 Apr, 2021 05:42pm

Stocks

Stocks slip off record highs ahead of earnings, US data

MSCI's All Country World Index, which tracks stocks across 49 countries, was down 0.14% after the start of European trading, off Friday's record high. The gauge's price-to-earnings ratio is at its highest level since early 2010.
Morgan Stanley noted that despite the S&P 500 making all-time highs, small-cap stocks represented by the Russell 2000 small-cap index have underperformed the S&P 500 by 8% since peaking on March 12.

Published 12 Apr, 2021 05:42pm

Forex

Currencies muted as US inflation takes centrestage

EMEA FX muted amid US inflation jitters.
Turkish inflation concerns rise ahead of rate decision.
MSCI EM stocks index tumbles.
Alibaba surges after shrugging off regulatory woes.

Published 12 Apr, 2021 05:40pm

Middle East

Yemen's Huthi rebels claim strikes on Saudi oil plants

Neither Aramco or Saudi authorities immediately reported any attack.

Published 12 Apr, 2021 05:38pm

Europe

Developments in Iran 'not positive' for nuclear talks: Germany

Maas said the negotiations in Vienna "will not be easy but until now, there has been a constructive spirit" shown by participants.

Published 12 Apr, 2021 05:37pm

Forex

Dollar drops as traders prepare for inflation data

Dollar falters, extending losses last week.
US inflation data due on Tuesday.
Euro climbs above $1.19, sterling bounces off two-month low.

Published 12 Apr, 2021 05:38pm

Stocks

Indian shares, rupee slide as lockdown fears loom after COVID-19 surge

The NSE Nifty 50 index closed 3.53% lower at 14,310.80, while the S&P BSE Sensex ended down 3.44% at 47,883.38.
The Nifty auto index closed down 5.11%. The Society of Indian Automobile Manufacturers on Monday warned that the pandemic had set back an already bruised auto industry by many years.

Published 12 Apr, 2021 05:33pm

Europe

Spain arrests 20 alleged human smugglers

In the bust, some 150 police officers backed by Europol agents seized three boats, five firearms, ammunition and cash.

Published 12 Apr, 2021 05:35pm

Stocks

Sri Lankan shares rise as industrials, consumer staples gain

The CSE All-Share Index gained 1.34% to close at 7,558.28 points. The index is up over 11.5% for the year.
Conglomerates Expolanka Holdings Plc and Hayleys Plc were the top boosts to the index, gaining 5.4% and 8%, respectively.

Published 12 Apr, 2021 05:33pm

Europe

Greek high schools reopen after five months of closure

Primary and secondary schools, which had briefly reopened, remain closed across the country.

Published 12 Apr, 2021 05:33pm

Africa

Ballot counting under way after tense election in Benin

The government said it was "satisfied" with the vote, in which more than 4.9 million people were eligible to participate.

Published 12 Apr, 2021 05:31pm

Europe

Coronavirus toll at 1000 GMT Monday

At least 135,952,650 cases of coronavirus have been registered.

Published 12 Apr, 2021 05:26pm

Business & Finance

Sri Lanka gets emergency China loan as rupee hits record low

The country's economy contracted by a record 3.9 percent last year.

Published 12 Apr, 2021 05:25pm

Stocks

European stocks steady despite Asia losses

London nudged lower in late morning deals, while Frankfurt and Paris flatlined shortly after midday in the eurozone.

Published 12 Apr, 2021 05:21pm

Sports

Covid-hit PSL to resume in June

A decision on whether to allow crowds has yet to be taken, as the country battles a third wave of infections.

Published 12 Apr, 2021 05:18pm

Europe

Britain dives back into normal life as India battles new surge

More than 2.9 million people are now known to have died globally after catching Covid-19, with tens of millions infected.

Published 12 Apr, 2021 05:16pm

South Asia

Myanmar's Suu Kyi hit with new criminal charge

Min Min Soe said Suu Kyi appeared in good health but it is not clear if she has any idea of the turmoil that has unfolded in Myanmar over the past two months.

Published 12 Apr, 2021 05:11pm

Automobile

The New Yamaha YBR 125 Will ‘Surprise’ You

Yamaha has added an innovative aerodynamic sticker in its new model.

Published 12 Apr, 2021 05:17pm

World

AstraZeneca suffers diabetes drug setback for Covid

The trial was carried out alongside Saint Luke's Mid America Heart Institute and looked at potential complications including diabetes and heart failure.

Published 12 Apr, 2021 05:09pm

Pakistan

PPP calls it quits with PDM after seven months

Bilawal Bhutto said the CEC has directed all its office-bearers in the PDM to submit their resignations with immediate effect in protest of the attitude of the PDM.
The PPP has also demanded an apology from the PDM.

Published 12 Apr, 2021 05:12pm

Europe

Merkel party chief swings ahead in race to be next chancellor

Long-time Merkel ally Laschet took over as CDU leader in January but has since suffered a series of setback including a damaging spat with Merkel over virus containment measures.

Published 12 Apr, 2021 05:07pm

Business & Finance

Embattled Huawei plans push into smart-vehicle sector to survive

It also planned to push ahead in helping develop applications for the coming advent of superfast 5G connections, in cloud computing, and in the software business.

Published 12 Apr, 2021 05:03pm

Europe

EU 'rejects any attempts' to undermine Iran nuclear talks

EU spokesman said the reported incident "could have been an act of sabotage" but insisted that there had been no official attribution over who was responsible.

Published 12 Apr, 2021 05:03pm

South Asia

Blinken heads back to Brussels as Afghanistan decision looms

Joe Biden has promised to go ahead and end America's longest war within the year but has said that the May 1 deadline is not realistic.

Published 12 Apr, 2021 04:59pm

Middle East

Syrian regime used chemical weapons in 2018 attack: OPCW probe

"The cylinder ruptured and released chlorine over a large area, affecting 12 named individuals."

Published 12 Apr, 2021 04:59pm

World

US police shooting of Black man in Minneapolis sparks fresh protests

But clashes broke out again soon after as another group of several hundred protesters gathered outside the Brooklyn Center Police Headquarters and were met with teargas and flash bangs.

Updated 12 Apr, 2021 04:58pm

Technology

Alibaba shares soar as it plays down hit from record $2.78bn fine

Regulators slammed the tech giant with the penalty on Saturday after a months long probe concluded it had been abusing its dominant market position.

Updated 12 Apr, 2021 04:58pm

Stocks

Hong Kong shares tumble in morning

The Hang Seng Index slumped 0.98 percent, or 281.56 points, to 28,417.24.

Updated 12 Apr, 2021 04:58pm

World

Cyclone Seroja causes 'widespread damage' in Australia towns

Public broadcaster ABC reported 70 percent of structures in Kalbarri -- home to about 1,500 people -- had been damaged.

Updated 12 Apr, 2021 04:58pm

Sports

Cricket's old and new on show as Championship and IPL collide

A new format of 100 balls per side -- even shorter than a T20 -- the Hundred's launch has been held over from last year because of the pandemic.

Updated 12 Apr, 2021 04:58pm

Stocks

Hong Kong stocks start on front foot

The Hang Seng Index rose 0.32 percent, or 93.17 points, to 28,791.97.

Updated 12 Apr, 2021 04:58pm

Stocks

Tokyo stocks open higher extending US rallies

Toyota, whose Lexus brand endorses Matsuyama, rose 1.01 percent to 8,503 yen and Nomura Holdings rose 0.26 percent to 586.5 yen.

Updated 12 Apr, 2021 04:58pm

World

Maduro says Venezuela will produce Cuban Covid-19 vaccine

Maduro said his government would also sign deals to produce vaccines "with Russia, with China and with other countries."

Updated 12 Apr, 2021 04:58pm

Sports

Tears and cheers as Matsuyama victory thrills Japan

In Matsuyama city, one resident said the hometown hero's win was some much-needed light relief.

Updated 12 Apr, 2021 04:58pm

Sports

Tatum shines as Celtics rally to cool off streaking Nuggets

Romeo Langford hit two free throws to give the Celtics an 80-79 lead early in the fourth, their first lead of the contest.

Updated 12 Apr, 2021 04:57pm

World

UK lawmakers set for Prince Philip tributes

The comments came as the highest-ranking cleric in the Church of England that the queen heads led prayers at a memorial service for the Duke of Edinburgh.

Updated 12 Apr, 2021 04:57pm

Sports

After epic trek to Masters win, Matsuyama shuns greatest tag

"As far as golf, not so much. Hopefully now others will be inspired for what happened here today and follow in my footsteps."

Updated 12 Apr, 2021 04:57pm

World

Peruvians vote for president amid deadly coronavirus surge

On Sunday evening, the authorities announced the latest daily death toll of 234.

Updated 12 Apr, 2021 04:57pm

Financial

Fed chair says cyberattacks main risk to US economy

The Fed was also looking at the possibility that part or even a large part of the financial system could shut down.

Updated 12 Apr, 2021 04:57pm

World

Lasso wins Ecuador presidency as Arauz concedes

Earlier, television stations Ecuavisa and Teleamazonas published the results of the Cedatos exit poll that gave Lasso almost a 6.5 percentage point lead over Arauz.

Updated 12 Apr, 2021 04:57pm

Stocks

Asian markets retreat as traders await earnings season

Eyes will be on the release of consumer price data this week, after figures Friday showed the producer price index last month came in above forecasts and hit its highest level in almost a decade.

Updated 12 Apr, 2021 04:57pm

World

Germany Covid-19 infections pass 3 million: official

The total number of infections now stands at 3,011,513, with 78,452 deaths, the institute said.

Updated 12 Apr, 2021 04:57pm

Automobile

Which Toyota Corolla Cross to buy - a variant comparison guide of all three

The Toyota Corolla Cross comes with three variants, Premium, Smart, and Low (Base).
The Premium version costs Rs.83,99,000, while the Smart version costs Rs.81,99,000.

Published 12 Apr, 2021 04:41pm

Business & Finance

Pakistan Refinery says exploring option to purchase used refinery units

“The company is exploring the option of pre-owned/used refinery units in addition to the option of new refinery units for cost-effective analysis,” PRL said in a statement, the refinery, however, said that no decision is made as yet for finalizing any of the aforesaid options.

Published 12 Apr, 2021 03:42pm

Life & Style

Realme C25 goes a long way, all day with its 6,000mAh battery

Smartphones have become a basic necessity. We live, work, talk and walk with them. They're used everywhere to...

Published 12 Apr, 2021 03:11pm

Business & Finance

PSW Act to facilitate trade in Pakistan, says PM Khan

The prime minister informed that PSW will bring an annual savings of $500 million and reduce will cargo clearance time from days to hours by integrating 75 regulatory departments including “customs, banks, port authorities, shipping companies and brokers etc.”

Published 12 Apr, 2021 02:28pm

Mutual Funds

JGB yields track Treasuries higher, auction demand cap fall in prices

The 30-year JGB yield rose 0.5 basis point to 0.680% and the 40-year JGB yield rose 0.5 basis point to 0.720%.

Published 12 Apr, 2021 02:27pm

Commodities

LME copper may fall into $8,435-$8,661 range this week

A break above $8,887, now a resistance, could lead to a gain to $9,000, a higher resistance established by the upper trendline of a wedge.

Published 12 Apr, 2021 02:25pm

Stocks

European stocks ease from record high ahead of earnings season

Airlines EasyJet and Ryanair fell close to 3% after HSBC downgraded their stocks to "hold" from "buy".

Published 12 Apr, 2021 02:23pm

Business & Finance

Fitch raises outlook for Australia's 'Big Four' banks as economy rebounds

However, the ratings agency warned that risks to the forecast would remain until the vaccination programme is completed.

Published 12 Apr, 2021 02:21pm

Forex

Indian rupee hits 8-month low as virus cases skyrocket

Equities in Malaysia lost up to more than half a percent, while shares in Thailand, which reported its biggest daily jump in new COVID-19 cases for a second day in a row, declined as much as 1.5%.

Published 12 Apr, 2021 02:20pm

Forex

South Africa's rand down in early trade

Recent demand for emerging-market currencies has been driven by weakness in the US dollar and Treasury yields after minutes from the US central bank's latest meeting showed it was in no hurry to tighten monetary policy.

Published 12 Apr, 2021 02:18pm

Stocks

China stocks end lower as materials, transport firms weigh

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.14%, while Japan's Nikkei index closed down 0.77%.

Published 12 Apr, 2021 02:16pm

World

Rovi to make active agents for Moderna COVID-19 vaccine

Rovi will start manufacturing of the active agents at its plant in Granada, having previously only packaged vaccines that had been produced in Switzerland, it said in a statement.

Published 12 Apr, 2021 02:15pm

Commodities

LME aluminium may fall to $2,201 this week

It is the second time the metal failed to overcome this barrier.

Published 12 Apr, 2021 02:14pm

Mutual Funds

Euro zone bond yields fall, focus falls on key week for US bonds

Analysts at UniCredit said the data, the first indication of purchases in the second quarter, will be closely watched.

Published 12 Apr, 2021 02:13pm

Business & Finance

Germany's BDI industry body hikes forecast for 2021 export growth

At the same time, it cut its forecast for Germany economic growth to 3% from 3.5% due to ongoing lockdown measures in Europe's biggest economy.

Published 12 Apr, 2021 02:11pm

Forex

Rouble heads to 5-month low vs dollar as geopolitical fears linger

The rouble-based MOEX Russian index was 0.1% lower at 3,482.5 points.

Published 12 Apr, 2021 02:09pm

World

AstraZeneca's diabetes drug Farxiga fails in COVID-19 study

The treatment, which is in late-stage trials, is one of several being developed for COVID-19, including efforts by rivals Moderna Inc and Eli Lilly.

Published 12 Apr, 2021 02:08pm

Financial

Hungary central bank says will buy green govt bonds as part of its QE programme

"The NBH is committed to buy green government bonds as part of its asset purchase programme under similar conditions than any other government bond," the bank said.

Published 12 Apr, 2021 02:06pm

World

Myanmar's detained Suu Kyi asks court to meet her lawyers

The next hearing is set for April 26.

Published 12 Apr, 2021 02:05pm

World

Prince Harry arrives back in the UK for Prince Philip funeral

Her son Prince Andrew said on Sunday the queen was stoical in the face of a loss that she had described as "having left a huge void in her life".

Published 12 Apr, 2021 02:03pm

World

Ukraine's Zelenskiy, amid tensions, asked to speak with Putin, but no reply yet

Russia had massed more than 40,000 troops on Ukraine's eastern border and more than 40,000 troops in Crimea, Mendel said.

Published 12 Apr, 2021 02:00pm

Business & Finance

EU sets provisional tariffs on Chinese aluminium products

Over the same timeframe, EU producers turned from being profitable into making losses, the Commission's investigation found.

Published 12 Apr, 2021 01:58pm

Energy

Saudi Arabia meets May crude supply for most Asian buyers

Last month, Saudi Aramco cut the supply of April-loading crude to at least four north Asian buyers by up to 15%.

Published 12 Apr, 2021 01:57pm

Pakistan

‘SOP compliance remains very weak and pressure on hospitals is increasing’ warns Asad Umar

"Administration has been asked to ramp up compliance enforcement to avoid a crises like situation," Umar tweeted.
58 deaths and 4,584 new cases were reported in 24 hours.

Updated 12 Apr, 2021 01:58pm

World

Czech COVID-19 daily tally lowest since September as pupils return to classroom

Czech students have faced the longest school closures in the European Union.

Published 12 Apr, 2021 01:55pm

Business & Finance

Vietnam Q1 trade surplus at $2.8bn

In March, the country reported a trade surplus of $1.2 billion, swinging from a deficit of $460 million in February, it added.

Published 12 Apr, 2021 01:54pm

World

Russia reports 8,320 new COVID-19 cases, 277 deaths

The government coronavirus taskforce said that 277 people had died, taking its death toll to 103,263.

Published 12 Apr, 2021 01:53pm

Commodities

Vietnam March coffee exports up 38.1 % m/m, rice up 74.7%

For the first three months of 2021, Vietnam exported 456,010 tonnes of coffee, down 12.2% from a year earlier, Vietnam Customs said in a statement.

Published 12 Apr, 2021 01:52pm

Companies

Greece's Aegean Airlines posts full-year loss on pandemic impact

The airline will enhance resilience and competitiveness once restrictions are gradually lifted, he said.

Published 12 Apr, 2021 01:49pm

Financial

China March new bank loans rise to 2.73 trln yuan, beat forecast

Broad M2 money supply grew 9.4% from a year earlier, central bank data showed on Monday, below estimates of 9.6% forecast in the Reuters poll. It rose 10.1% in February.

Published 12 Apr, 2021 01:48pm

World

Turkey joblessness up; underutilisation eases from record

The non-agricultural unemployment rate rose to 15.3% from 14.6% a month earlier and youth unemployment rose 0.4 points to 26.9%.

Published 12 Apr, 2021 01:46pm

Energy

Abu Dhabi's ADNOC, Dutch-listed OCI weigh IPO of fertiliser joint venture

The firms submitted bids last week for the deal, which could raise at least $1 billion, they said.

Published 12 Apr, 2021 01:45pm

Stocks

Most major Gulf markets gain as financials rise

On Sunday, the lender reported its first quarter net profit of 3.3 billion riyals ($906.22 million), down by 7% from a year earlier as it booked 1.4 billion riyals in "precautionary" loan-loss provisions.

Published 12 Apr, 2021 01:43pm

Forex

Dollar bounces higher as traders brace for inflation data

The dollar fell 0.2% to 109.41 yen versus the Japanese currency.

Published 12 Apr, 2021 01:41pm

Stocks

Banks, miners drag FTSE 100 lower; C4X Discovery shines

Hammerson reversed course to trade 2.5% lower. The company on Monday confirmed that it was in talks for a possible sale of its retail parks portfolio to Canadian private equity player Brookfield Asset Management.

Published 12 Apr, 2021 01:39pm

Stocks

Farallon calls on Toshiba to seek other offers

The fund is Toshiba's third-largest shareholder with a stake of around 6%.

Published 12 Apr, 2021 01:38pm

Financial

Czech central bank's euro holdings in reserves up to 58.8% in 2020

In 2019, the euros accounted for 58.4% of reserves.

Published 12 Apr, 2021 01:36pm

Forex

Yuan eases as Sino-US tensions, uncertainty over global monetary outlook weigh

The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the US currency.

Published 12 Apr, 2021 01:34pm

Forex

Australia dollar eases amid disappointing vaccine rollout, NZ kiwi unchanged

The Kiwi's major barrier is $0.7053, and support lies around $0.70.

Published 12 Apr, 2021 01:32pm

Stocks

Australia shares slip after government scraps vaccination targets

Healthcare stocks outperformed the benchmark to close 0.7% higher. CSL rose 0.9%, while ResMed gained 1.8%.

Published 12 Apr, 2021 01:29pm

Business & Finance

KSA wealth fund invites Pakistani businesses to explore investment opportunities

As per PIF statement, “the Public Investment Fund is seeking to become a leading global impactful investor in line with the objective of Vision 2030 and to drive the economic transformation of Saudi Arabia, through active long- term investments.”

Published 12 Apr, 2021 12:47pm

Pakistan

Human rights defender IA Rehman passes away

He passed away at the age of 90 at his home in Lahore.
IA Rehman was involved with journalism for more than 65 years.

Published 12 Apr, 2021 12:21pm

Business & Finance

PM to address ECOSOC Forum on Finance

As per details, the objective of the Forum is to mobilize adequate financial support to enable the developing countries to recover from the impact of the COVID-19 pandemic and achieve the Sustainable Development Goals (SDGs) and the climate objectives.

Published 12 Apr, 2021 12:19pm

Pakistan

Bilawal tears up PDM's show-cause notice at PPP’s Central Executive Committee meeting

The PDM had served notices to PPP and the Awami National Party for not attending the alliance meeting and violating its decision.
Bilawal said that opposition parties enjoy mutual respect and no one has the right to make any independent party accountable for its policies.

Updated 12 Apr, 2021 12:10pm

Business & Finance

Pakistan's Remittances hit above $2bn mark for 10 straight months

Cumulatively during July-Mar FY 21, remittances have risen to $21.5 billion, up by 26 percent over the same period of FY20.

Updated 12 Apr, 2021 12:07pm

Business & Finance

Pakistan entering third COVID-19 wave with strong economic indicators: Baqir

Baqir appreciated the role of Overseas Pakistanis for their role in maintaining the growth in remittances. “We have to thank Overseas Pakistan for the unparalleled growth we are seeing in our remittances,” he said.

Updated 12 Apr, 2021 11:47am

Commodities

China sells 515,209 tonnes of wheat in auction of state reserves

Chinese feed makers scooped up wheat from reserves to substitute for more expensive corn.

Published 12 Apr, 2021 10:13am

Commodities

Corn jumps 1% as US forecasts lower supplies, wheat eases

The wheat market came under pressure from estimates of higher production in Russia.

Published 12 Apr, 2021 10:11am

Stocks

China, HK stocks fall on persisting worries of policy tightening

Shares in Alibaba Group Holdings Ltd rose as much as 9% in Hong Kong trade.

Published 12 Apr, 2021 10:11am

Commodities

China's wheat sale from state reserves fall after government intervention

"Many feed producers have built their stocks till May...We will need watch what happens in May," said the manager, who declined to be named as he was not authorized to talk to the media.

Published 12 Apr, 2021 10:08am

Commodities

China steel rebar, hot rolled coils futures tumble on fear of govt controls

Benchmark iron ore futures on the Dalian Commodity Exchange dipped 0.9% to 980 yuan a tonne.

Published 12 Apr, 2021 10:06am

Energy

US oil remains neutral in $58.80-$60.04 range

The bias could be towards the downside, as a wave C from the April 6 high of $60.90 looks incomplete. It is expected to travel below the March 23 low of $57.25.

Published 12 Apr, 2021 10:04am

Commodities

Palm oil may fall to 3,659 ringgit

These bearish signals crowded together to confirm a completion of the bounce from 3,495 ringgit.

Published 12 Apr, 2021 10:03am

Energy

Brent oil remains neutral in $62.84-$63.84 range

There might be two different moves when the consolidation is over: A weak bounce towards $66.15 and a deep fall towards $54.43.

Published 12 Apr, 2021 10:02am

Bullion Rate

Spot gold may test support at $1,719

A break above $1,744 may lead to a gain to $1,758.

Published 12 Apr, 2021 09:59am

Bullion Rate

Gold prices slip as Treasury yields, dollar firm on upbeat US data

The dollar index rose 0.1% against rival currencies, making gold expensive for buyers outside the United States.

Published 12 Apr, 2021 09:57am

Bullion Rate

Gold prices slip as yields gain on higher inflation

Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts in the week to April 6, the US Commodity Futures Trading Commission (CFTC) said on Friday.

Published 12 Apr, 2021 09:55am

Forex

Dollar pinned down by lower US yields, inflation data in focus

"USD has some upside potential this week," Commonwealth Bank of Australia strategist Kimberley Mundy wrote in a report.

Published 12 Apr, 2021 09:53am

Stocks

Australian shares fall after abandoning of vaccination targets April

Gold stocks slipped 1.6% as bullion slid more than 1% on Friday, weighed down by a jump in US Treasury yields and rebound in dollar.

Published 12 Apr, 2021 09:52am

Stocks

Australia shares likely to edge up; NZ gains

The benchmark snapped a five-day rally on Friday to close 0.1% lower.

Published 12 Apr, 2021 09:50am

Pakistan

COVID-19 active cases in Pakistan reach 75,266; death rate slows for first time in several days

The country's coronavirus positivity ratio stands at 10.29%.
58 deaths and 4,584 new cases were reported in 24 hours.

Published 12 Apr, 2021 09:50am

Commodities

Malaysia end-March palm oil stocks rise more-than-expected to 1.45 mln T

Crude palm oil production grew 28.4% from February to 1.42 million tonnes, while palm oil exports jumped 31.8% to 1.18 million tonnes, MPOB said.

Published 12 Apr, 2021 09:48am

World

Thailand reports daily record of 985 new coronavirus cases

The Southeast Asian nation has reported a total of 33,610 coronavirus cases, while deaths remained at 97.

Published 12 Apr, 2021 09:47am

Pakistan

Jazz takes M&P onboard as official distributor

ISLAMABAD: Jazz, Pakistan’s number one 4G operator, and the largest internet and broadband service provider has on...

Updated 12 Apr, 2021 09:17am

Pakistan

SC to hear PM’s plea against ECP declaration on Thursday

ISLAMABAD: The Supreme Court will commence on Thursday the hearing of a petition moved on the behalf of Prime...

Updated 12 Apr, 2021 09:17am

Pakistan

CEC meeting: Bilawal tears up PDM’s show-cause notice

KARACHI: Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari on Sunday tore up show-cause notice served to...

Updated 12 Apr, 2021 09:17am

Pakistan

Ramazan moon: Ruet body to meet tomorrow

ISLAMABAD: An unprecedented meeting of the Central Ruet-e-Hilal Committee will be held in Peshawar on Tuesday (Apr...

Updated 12 Apr, 2021 09:17am

Currency	Rate
USD PKR Interbank Selling / Jun 29	278.37
USD PKR Interbank Buying / Jun 29	278.17
USD to Japanese Yen / Jun 29	161.79
USD to Swiss Franc / Jun 29	0.81
Pound Sterling to USD / Jun 29	1.32
Euro to USD / Jun 29	1.14
SOFR % / Jun 29	3.64

Stock	Volume
S&P 500 / Jun 26	7,354.02
Nasdaq / Jun 26	25,297.62
Dow Jones / Jun 26	51,876.11
India Sensex / Jun 29	76,794.03
Tokyo Nikkei / Jun 29	69,468.11
Hang Seng / Jun 29	23,074.24
FTSE 100 / Jun 29	10,505.10
Germany DAX 30 / Jun 29	24,727.86
France CAC40 / Jun 29	8,371.53

Item	Value
Crude Oil USD/Barrel / Jun 29	69.97
Karachi Cotton PKR/37.32 KG / Jun 29	17,780
Gold 10 Grams PKR / Jun 29	367,743
Gold Spot USD/Ounce / Jun 29	4,062.78
Cotton US¢/pound / Jun 29	77.27
Petrol/Litre / Jun 30	299.50
Diesel/Litre / Jun 30	311.47

Stock	Price
Blue-Ex Ltd / Jun 29 Blue-Ex Limited(BLUEX)	7.16 ▲ 1 (16.23%)
Ghani Chemworld Limited (R) / Jun 29 Ghani Chemworld Limited Right(GCWLR)	9.01 ▲ 1 (12.48%)
Pak Agro Pack. (GEM) / Jun 29 Pak Agro Packaging Limited (GEM)(GEMPAPL)	11.28 ▲ 1.03 (10.05%)
LSE Financial Serv. / Jun 29 LSE Financial Services Limited(LSEFSL)	23.38 ▲ 2.13 (10.02%)
Masood Tex.(Pref) / Jun 29 Masood Textile Mills Limited (Preference)(MSOTPS)	15.04 ▲ 1.37 (10.02%)
Bawany Air Products / Jun 29 Bawany Air Products Limited(BAPL)	30.67 ▲ 2.79 (10.01%)
First Tri-Star Mod. / Jun 29 First Tri-Star Modaraba(FTSM)	39 ▲ 3.55 (10.01%)
Ali Asghar / Jun 29 Ali Asghar Textile Mills Limited(AATM)	63.37 ▲ 5.76 (10%)
Ansari Sug. / Jun 29 Ansari Sugar Mills Limited(ANSM)	30.36 ▲ 2.76 (10%)
Al-Shaheer Corp / Jun 29 Al Shaheer Corporation Limited(ASC)	13.42 ▲ 1.22 (10%)

Stock	Price
UBLPakistanETF / Jun 29 UBLPakistan Enterprise ETF(UBLPETF)	31.71 ▼ -10.18 (-24.3%)
NBP PGETF / Jun 29 NBP Pakistan Growth Exchange Traded Fund(NBPGETF)	29.88 ▼ -5.58 (-15.74%)
First Fid. Leasing / Jun 29 First Fidelity Leasing Modaraba(FFLM)	20.05 ▼ -2.23 (-10.01%)
Buxly Paints / Jun 29 Buxly Paints Limited(BUXL)	226.55 ▼ -25.17 (-10%)
Zuma Resources / Jun 29 Zuma Resources Limited(ZUMA)	94.24 ▼ -10.47 (-10%)
TPL Trakker Ltd / Jun 29 TPL Trakker Limited(TPLT)	22.80 ▼ -2.53 (-9.99%)
Meezan PakistanXD / Jun 29 Meezan Pakistan ETF(MZNPETF)	19.88 ▼ -2.17 (-9.84%)
Data Agro / Jun 29 Data Agro Limited(DAAG)	87.15 ▼ -9.28 (-9.62%)
Leather Up Ltd. / Jun 29 Leather Up Limited(LEUL)	41.50 ▼ -4.41 (-9.61%)
Pak. P.V.C. / Jun 29 Pakistan PVC Limited(PPVC)	31.50 ▼ -3.19 (-9.2%)

Stock	Volume
Sitara Petroleum Service / Jun 29 Sitara Petroleum Service Limited(SPSL)	104,136,884 ▼ -1.03
WorldCall Telecom / Jun 29 Worldcall Telecom Limited(WTL)	73,717,757 ▼ -0.01
K-Electric Ltd. / Jun 29 K-Electric Limited(KEL)	50,957,377 ▼ -0.19
Pak Elektron / Jun 29 Pak Elektron Limited(PAEL)	29,046,218 ▲ 0.46
Ghani Chem. Ind. / Jun 29 Ghani Chemical Industries Limited(GCIL)	24,795,851 ▲ 1.61
B.O.Punjab / Jun 29 The Bank of Punjab(BOP)	23,149,737 ▼ -0.38
Service Long March / Jun 29 Service Long March Tyres Limited(SLM)	21,427,598 ▲ 0.15
Maple Leaf Cement / Jun 29 Maple Leaf Cement Factory Limited(MLCF)	20,772,975 ▼ -0.56
Oilboy Energy / Jun 29 Oilboy Energy Limited(OBOY)	19,775,407 ▲ 0.41
Pak Int.Bulk / Jun 29 Pakistan International Bulk Terminal(PIBTL)	18,655,206 ▼ -0.36