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Archive - 2021-04-13
White House hopes U.S. and Russia can work on arms, Iran
USA

White House hopes U.S. and Russia can work on arms, Iran

  • President Joe Biden proposed a summit with Russian President Vladimir Putin during a telephone call on Tuesday, and spokeswoman Jen Psaki said she hoped for an honest and candid conversation between the leaders at such a meeting.
Updated 14 Apr, 2021 12:03am
European shares pause near record highs
Stocks

European shares pause near record highs

  • The STOXX 600 has also lagged a recovery in its U.S. counterpart due to a slow vaccination rollout and a new wave of coronavirus infections on the continent.
Updated 14 Apr, 2021 12:01am
EU Parliament nears UK trade deal vote
Europe

EU Parliament nears UK trade deal vote

  • The EU-UK trade pact was provisionally applied on January 1, after nine months of tough negotiations and a last minute handshake just before Christmas last year.
Published 13 Apr, 2021 11:53pm
ECB should make clear its tolerance for overshooting inflation
Money & Banking

ECB should make clear its tolerance for overshooting inflation

  • The ECB has seen euro area inflation fall short of its near 2% target for eight years and expects to miss the target for years as the bloc emerges from the coronavirus crisis.
  • Nonetheless, he said there was room to improve guidance the ECB gives the market about how it aims to pursue its inflation target.
Published 13 Apr, 2021 08:43pm
Dollar drops to three-week lows after inflation data
Forex

Dollar drops to three-week lows after inflation data

  • The consumer price index jumped 0.6% last month, the largest gain since August 2012, after rising 0.4% in February, the Labor Department said on Tuesday. Excluding the volatile food and energy components, the CPI rose 0.3%. The so-called core CPI nudged up 0.1% in February.
  • The dollar briefly spiked on the data, before reversing course and dipping to three-week lows. Treasury yields also fell after the data.
Published 13 Apr, 2021 08:38pm
Morgan Stanley aims to support $750bn in low-carbon investments by 2030
Money & Banking

Morgan Stanley aims to support $750bn in low-carbon investments by 2030

  • As part of the commitment, the bank said it would escalate activities such as green-bond financing and financing companies that support clean technology and renewable energy.
  • As investor interest surges in environmental, social and governance (ESG) issues, a fleet of companies have taken steps to improve their performance on this front.
Published 13 Apr, 2021 08:29pm
Pfizer to pursue bringing COVID-19 vaccine to India after import relaxation
Companies

Pfizer to pursue bringing COVID-19 vaccine to India after import relaxation

  • "We have noted the recent announcement with regard to the regulatory pathway for global vaccines," a Pfizer spokesperson told Reuters in an email.
  • "We remain committed to continuing our engagement with the government towards making the Pfizer and BioNTech vaccine available for use in the government's immunisation program."
Published 13 Apr, 2021 08:27pm
Russia expects India to produce 50mn doses of Sputnik V each month this summer
Europe

Russia expects India to produce 50mn doses of Sputnik V each month this summer

  • On Monday, India, the world's second most populous nation, approved the use of Sputnik V, hailed by Dmitriev as a milestone for the vaccine.
  • The Russian Direct Investment Fund, which is responsible for marketing the vaccine abroad, has signed deals with six firms in India to produce more than 750 million doses of Sputnik V.
Published 13 Apr, 2021 08:25pm
Pound licks wounds as Haldane exit signals dovish tilt
Forex

Pound licks wounds as Haldane exit signals dovish tilt

  • While the reaction in currency markets was muted, with the pound holding close to the day's lows against its main rivals, Haldane's exit is widely seen as a departure of one of the more hawkish figures at the central bank.
  • Against the dollar, the British currency was down 0.1% at $1.3692, having touched its lowest since Feb. 5 at $1.3670 in the previous session.
Published 13 Apr, 2021 08:23pm
Ukraine barley export prices fall to five-month low
Commodities

Ukraine barley export prices fall to five-month low

  • Bid prices for Ukrainian-origin barley have fallen by $15 a tonne this month to $220-$230 a tonne CPT (carriage pain to) Black Sea as of April 13, they said in a report.
  • APK-Inform said that a global downward trend had affected Ukrainian wheat and corn export prices.
Published 13 Apr, 2021 08:22pm
US natgas futures rise for 5th day on cooler forecasts
Energy

US natgas futures rise for 5th day on cooler forecasts

  • Traders noted that even though temperatures may be lower, they were expected to remain around near-normal levels through late April.
  • Front-month gas futures rose 6.2 cents, or 2.4%, to $2.623 per million British thermal units.
Published 13 Apr, 2021 08:19pm
Man City's Guardiola tells players to ignore the maths ahead of Dortmund test
Sports

Man City's Guardiola tells players to ignore the maths ahead of Dortmund test

  • City will take a 2-1 lead to Dortmund, knowing the German side could seal progress with a 1-0 win on Wednesday on the away goals rule.
  • "If you think of the consequences or goals you have to score or concede, you forget what you have to do," he told a news conference on Tuesday. "It doesn't matter what happens in the first leg, you have a chance in the second.
Published 13 Apr, 2021 08:00pm
Latam FX rise as US inflation data dents dollar
Forex

Latam FX rise as US inflation data dents dollar

  • Brazil's real rose 0.2% while Mexico's peso added 0.3%. Higher copper prices bolstered top producer Chile's peso, which was up 0.5% after two straight days of losses.
  • In Peru, the sol currency and the stock index made slight moves after a day of turbulence when markets were spooked by a socialist surge in presidential elections.
Published 13 Apr, 2021 07:59pm
Norway to ease some COVID-19 restrictions, PM says
Europe

Norway to ease some COVID-19 restrictions, PM says

  • "The infection numbers are now down. Hospitalisations are fewer. The measures look to have had an effect," Solberg told a news conference.
  • Norwegians will from Friday again be allowed to receive up to five guests in private homes, up from two currently, and restaurants can serve alcohol under certain conditions.
Published 13 Apr, 2021 07:57pm
Yields dip after CPI data, J&J vaccine pause
Financial

Yields dip after CPI data, J&J vaccine pause

  • The 10-year yield was last down 2.1 basis points at 1.6552%, holding below a 14-month high of 1.776% reached on March 30.
  • "We've had yields run up a ton on expectations that inflation is going to be going to the moon ... but (the data) doesn't show any signs of getting completely out of control, at least not yet," he said.
Published 13 Apr, 2021 07:56pm
Spain unaware of any delays in J&J COVID vaccine deliveries
Europe

Spain unaware of any delays in J&J COVID vaccine deliveries

  • J&J said on Tuesday it would delay the rollout of its COVID-19 vaccine in Europe and was reviewing cases of extremely rare blood clots in people after they received the shot with European health authorities.
  • US federal health agencies on Tuesday recommended pausing the use of the vaccine as six women under 50 developed rare blood clots after receiving the shot, dealing a fresh setback to efforts to tackle the pandemic.
Published 13 Apr, 2021 07:54pm
Argentina's Feitt banned for life for match-fixing
Sports

Argentina's Feitt banned for life for match-fixing

  • Feitt, who had a highest ATP singles ranking of 920, admitted to nine breaches of the Tennis Anti-Corruption Program rules, including five counts of attempting to contrive the outcome or any other aspect of any match.
  • The 28-year-old was also found guilty of three instances of soliciting other players not to use their best efforts and one failure to report corrupt approaches to the ITIA officials.
Published 13 Apr, 2021 07:48pm
Japan's Mizuho to decline to chair lobby group after glitches
Financial

Japan's Mizuho to decline to chair lobby group after glitches

  • Instead, Japan's No.2 lender Sumitomo Mitsui Financial Group Inc will take over from the current chair Mitsubishi UFJ Financial Group Inc from July, the source said on condition of anonymity.
  • The issue on March 11 was a hardware problem at its data centre, which delayed 263 foreign currency-denominated remittances for corporate clients, worth 50 billion yen.
Updated 13 Apr, 2021 07:50pm
Britain's wheat imports set season low in February
Commodities

Britain's wheat imports set season low in February

  • Wheat imports for the month totalled 94,956 tonnes, down from 106,531 tonnes in January and the lowest monthly total so far for the 2020/21 season, which runs from July to June.
  • A slowdown had been expected following the expiration of a transitional trade agreement between Britain and the European Union at the end of 2020.
Published 13 Apr, 2021 07:41pm
Corolla Cross is Finally Open for Bookings
Companies

Corolla Cross is Finally Open for Bookings

  • Toyota Indus Motors (IMC) has finally announced that its Corolla Cross is open for bookings.
  • Corolla Car will also be launched in three variants, i.e., Premium High Grade, Smart Mid Grade, and Low Grade.
  • Corolla Cross deliveries will start from the 1st of July, 2021.
Updated 13 Apr, 2021 07:22pm
Medvedev tests COVID-19 positive, out of Monte Carlo Masters
Sports

Medvedev tests COVID-19 positive, out of Monte Carlo Masters

  • Medvedev, who was seeded second behind top-ranked Novak Djokovic at the ATP Masters 1000 event on clay, has been put in isolation and is being monitored, the men's tennis governing body said in a statement.
  • "My focus is now on recovery and I look forward to getting back out on Tour as soon and as safely as possible."
Published 13 Apr, 2021 07:14pm
Continental Resources' quarterly output hit by winter storm
Companies

Continental Resources' quarterly output hit by winter storm

  • Continental expects oil production to average about 152,000 barrels of oil per day (bopd) and natural gas output to average about 935 million cubic feet per day (mmcfpd).
  • Second-quarter production is expected to be 160,000-165,000 bopd and natural gas output is seen at 920-940 mmcfpd, the company said.
Published 13 Apr, 2021 07:12pm
German regulator acts to halt 'illegal' WhatsApp data collection
Technology

German regulator acts to halt 'illegal' WhatsApp data collection

  • "We have reason to believe that the data sharing policy between WhatsApp and Facebook is being impermissibly enforced due to the lack of voluntary and informed consent," said Hamburg's data protection officer Johannes Caspar.
  • "To be clear, by accepting WhatsApp's updated terms of service, users are not agreeing to any expansion in our ability to share data with Facebook, and the update does not impact the privacy of their messages with friends or family."
Published 13 Apr, 2021 07:10pm
Financials drag major Gulf markets lower
Stocks

Financials drag major Gulf markets lower

  • Lower demand and a slump in commodity prices eroded state finances last year. In the Middle East and North Africa, fiscal deficits widened to 10.1% of GDP in 2020 from 3.8% of GDP in 2019.
  • Saudi Arabia's benchmark index dropped 0.7%, weighed down by a 1% decline in Al Rajhi Bank and a 1.7% decrease in Saudi National Bank.
Published 13 Apr, 2021 07:08pm
Analysts cut Air Canada's PT after government agrees on equity stake
Companies

Analysts cut Air Canada's PT after government agrees on equity stake

  • "Our target price declines due to the negative impact of greater short-term cash-burn and the impact of the dilution from the share and warrant issue on the price to equity component of our target," James added.
  • The Canadian government on Monday agreed to buy C$500 million worth of shares in the airline at C$23.1793 each.
Published 13 Apr, 2021 07:02pm
Sudan due to send first delegation to Israel next week
Middle East

Sudan due to send first delegation to Israel next week

  • One of sources, who could not be identified by name or nationality, said the Sudanese delegation would comprise security and intelligence officials. The specific date for next week's visit had yet to be finalised, the source added.
  • Sudan joined the United Arab Emirates, Bahrain and Morocco in agreeing to move toward normal relations with Israel in 2020 Abraham Accords deals brokered by the Trump administration.
Published 13 Apr, 2021 06:53pm
Liverpool's Klopp urges caution against high-flying but depleted Real
Sports

Liverpool's Klopp urges caution against high-flying but depleted Real

  • "When you are 3-1 down it looks like we are already out - it means we have not a lot to lose. The result showed they were better than us but it's only the first half," Klopp told reporters.
  • "Football is football, anything is possible," Klopp added on the possibility of a comeback. "We speak about results but for me, the performance is much more important. We have to play like ourselves.
Published 13 Apr, 2021 06:49pm
Bank of England's Haldane to quit this year
Money & Banking

Bank of England's Haldane to quit this year

  • Haldane - who has struck the most upbeat tone among BoE policymakers about Britain's prospects for a rapid recovery from the COVID pandemic - will step down from the BoE's Monetary Policy Committee (MPC) after its June meeting and start his role at the RSA in September.
Published 13 Apr, 2021 06:46pm
Belgium to continue with Johnson & Johnson vaccine for the time being
Europe

Belgium to continue with Johnson & Johnson vaccine for the time being

  • "At this time, we have not received any signals that we should stop the vaccination," said Gudrun Briat, a spokesperson for the vaccination task force.
  • Belgium received 36,000 doses of the Johnson & Johnson jab yesterday. Almost two million Belgians have received a first dose of a vaccine so far.
Published 13 Apr, 2021 06:39pm
Reaction after US recommends pause for J&J COVID-19 vaccine
USA

Reaction after US recommends pause for J&J COVID-19 vaccine

  • "Whilst a causal link between COVID-19 vaccination, platelet abnormalities and blood clots has not, so far, been confirmed, the index of suspicion is rising that these rare cases may be triggered by the adenovirus component of the AstraZeneca and J&J vaccines.
  • "Moreover, increasing awareness of the possibility of such side-effects means that they should be diagnosed more quickly and treated more successfully."
Published 13 Apr, 2021 06:36pm
NATO demands Russia end Ukraine build-up, West examines options
Europe

NATO demands Russia end Ukraine build-up, West examines options

  • "In recent weeks Russia has moved thousands of combat-ready troops to Ukraine's borders, the largest massing of Russian troops since the illegal annexation of Crimea in 2014," Stoltenberg said.
  • "Russia must end this military build-up in and around Ukraine, stop its provocations and deescalate immediately," he said at a news conference with Kuleba. Kuleba said Kyiv wanted a diplomatic solution.
Published 13 Apr, 2021 06:33pm
Scotland to ease some COVID-19 restrictions early
Europe

Scotland to ease some COVID-19 restrictions early

  • She said people would be permitted to travel anywhere within Scotland to see family and friends for outdoor meetings from April 16, ten days earlier than planned, and those meetings could from then take place with six people from up to six households rather than four from two households.
Published 13 Apr, 2021 06:31pm
I always get fed, says Solskjaer's son after Spurs spat
Sports

I always get fed, says Solskjaer's son after Spurs spat

  • The row erupted following Sunday's 3-1 win in the Premier League for United when Solskjaer senior criticised Spurs attacker Son Heung-min for exaggerating a blow to the face.
  • "I always get fed, I can assure you of that," the 20-year-old midfielder told the paper with a smile, adding that his Norwegian team mates had teased him over the incident when he arrived for training on Monday, asking if he'd had breakfast.
Published 13 Apr, 2021 06:29pm
IKEA makes first solar park investment in Russia
Companies

IKEA makes first solar park investment in Russia

  • The total book value for the eight parks is more than 21 billion roubles ($272.16 million), Ingka Investments, the investment arm of the world's biggest furniture retailer, said in a statement.
  • Ingka Group has invested 2.5 billion euros ($2.97 billion) in renewable energy since 2009 and recently surpassed a target to produce as much renewable energy as the energy it consumes in its own operations.
Published 13 Apr, 2021 06:25pm
Volkswagen wage deal with IG Metall union
Companies

Volkswagen wage deal with IG Metall union

  • The deal with IG Metall will see salaries rise by 2.3% from January 2022. It also includes a 1,000 euro ($1,190) one-off "corona support payment" in June, the carmaker said.
  • This is indeed a deal based on moderation that will probably be reflected in other areas too. It shows that, despite rising inflation, the wage-price spiral feared by many will not rear its head in Germany.
Published 13 Apr, 2021 06:24pm
Ukraine grain exports down 23.7pc so far in 2020/21 season
Commodities

Ukraine grain exports down 23.7pc so far in 2020/21 season

  • The exports included 14.5 million tonnes of wheat, 17.3 million tonnes of corn and 4.1 million tonnes of barley, the data showed.
  • Traders have used 84% of the total wheat export quota of 17.5 million tonnes imposed for the whole 2020/21 July-June season.
Published 13 Apr, 2021 06:22pm
EU recovery funds to boost Spanish growth by 2pc points a year
Europe

EU recovery funds to boost Spanish growth by 2pc points a year

  • The government will use the money to finance 110 major investment projects, Sanchez said, including nearly 3.2 billion euros in renewable energy.
  • Spain is due to receive about 140 billion euros ($166 billion) from the EU to help it recover from the COVID-19 crisis. About half of the funds will come in the form of grants and the rest will be loans.
Published 13 Apr, 2021 06:19pm
Italy to spend 60pc more of EU funds on better broadband
Industry

Italy to spend 60pc more of EU funds on better broadband

  • Italy to get 206 bln euros from EU emergency programme.
  • Draghi aims to invest 6.7 bln euros in broadband infrastructure.
  • Total resources for digitalisation around 49 bln euros.
  • Ministers considering alternatives to single broadband network.
Published 13 Apr, 2021 06:17pm
France's Dassault urges Berlin to support Airbus fighter deal
Companies

France's Dassault urges Berlin to support Airbus fighter deal

  • After tense negotiations, rivals Dassault and planemaker Airbus agreed this month on a share of the work on the Future Combat Air System (FCAS), an array of manned and unmanned warplanes backed by France, Germany and Spain.
  • "It was difficult, but we found a balance," Dassault Chief Executive Eric Trappier told a news conference given as head of France's GIFAS aerospace industry association.
Published 13 Apr, 2021 06:15pm
Iran sees record spike in COVID cases after holiday travels
South Asia

Iran sees record spike in COVID cases after holiday travels

  • Health ministry spokeswoman Sima Sadat Lari told state TV on Tuesday that 24,760 new daily cases were identified, taking the total to 2,118,212 cases. The daily death toll rose to 291, the highest since Dec. 9, to bring the total to 65,055.
  • Lari said 295 counties have been classified as very high-risk "red" zones, and 99 as high-risk "orange" areas, while 45 counties were rated "yellow" and just 9 as low-risk "blue" zones.
Published 13 Apr, 2021 06:09pm
EU insurance regulator cracks down on unit-linked policy costs
Europe

EU insurance regulator cracks down on unit-linked policy costs

  • "Costs are often not clearly identified and they cannot be linked to a specific product component, making it difficult to assess the value of each component," EIOPA said in a statement.
  • "The low interest rate environment coupled to market shocks and the risk that households will need increased access to liquidity, underline how important it is that unit-linked products always offer value to consumers."
Published 13 Apr, 2021 06:07pm
Sancho to miss Dortmund's ‘brutally difficult’ task against City
Sports

Sancho to miss Dortmund's ‘brutally difficult’ task against City

  • They then earned a nervous 3-2 victory at VfB Stuttgart on Saturday to keep alive their slim hopes of qualifying for the Champions League next season.
  • "Belief is big but belief alone will not be enough," Terzic told a virtual news conference on Tuesday. "We played a good game last week and showed we can keep pace with a top team.
Published 13 Apr, 2021 06:04pm
Generali to discuss possible Malaysia, Russia deals
Companies

Generali to discuss possible Malaysia, Russia deals

  • The Italian insurer is looking at assets of French rival AXA in Malaysia which could be worth around 700 million euros ($832 million), the sources said. It has also been looking at a possible acquisition in Russia.
  • The deals will be reviewed at a Generali strategic committee meeting on Tuesday and a board meeting the day after, one of the sources said, confirming an earlier report in Italian daily Il Sole 24 Ore.
Published 13 Apr, 2021 05:55pm
US calls for pause to J&J COVID-19 vaccine over rare blood clots
Companies

US calls for pause to J&J COVID-19 vaccine over rare blood clots

  • The move comes a week after European regulators said they had found a possible link between AstraZeneca's COVID-19 vaccine and a rare blood clotting problem that had led to a small number of deaths.
  • Johnson & Johnson's (J&J) single dose vaccine - most COVID-19 shots are delivered over two doses - and AstraZeneca's low-cost vaccine are seen as vital tools in the fight against a pandemic that has claimed more than three million lives.
Published 13 Apr, 2021 05:48pm
UK holding off on Liberty Steel as Gupta explores refinancing
Companies

UK holding off on Liberty Steel as Gupta explores refinancing

  • "I think it's absolutely necessary to have steel here in the UK, it has a future," Kwarteng told a parliamentary hearing. "But we can't strip Liberty Steel in this instance now from the wider group under which it sits."
  • "Mr Gupta's assurances that he can refinance his business needs to be examined and he should be allowed time to find the actual refinancing to keep his businesses afloat," Kwarteng said.
Published 13 Apr, 2021 05:46pm
Georgia rules to keep opposition leader in detention
Europe

Georgia rules to keep opposition leader in detention

  • Police in February detained Melia, chairman of the United National Movement (UNM) opposition party, after storming its offices and clashing with his supporters.
  • Melia stands accused of inciting violence at anti-government street protests in June 2019, a charge he dismisses as politically motivated.
Published 13 Apr, 2021 05:44pm
Japan proposes joint naval drill with Germany
South Asia

Japan proposes joint naval drill with Germany

  • Japanese Foreign Minister Toshimitsu Motegi and Defence Minister Nobuo Kishi held the talks with German Foreign Minister Heiko Maas and Defence Minister Annegret Kramp-Karrenbauer via video conferencing.
  • In the East China Sea, Beijing claims a group of uninhabited Japanese-administered islets, and the dispute has long troubled bilateral relations.
Published 13 Apr, 2021 05:41pm
Chinese premier calls for more communication between China, US
South Asia

Chinese premier calls for more communication between China, US

  • "If you believe you've been harmed or bullied in China, tell us first," Zhang Huanteng, vice director of the Department of National Economy at the NDRC.
  • "We'd feel very wronged if we aren't aware of things and the US government tells us first," said Zhang, adding that Chinese regulators were baffled when they first read the US Section 301 Report, which set off the Sino-US trade war.
Published 13 Apr, 2021 05:39pm
Facebook oversight board widens scope to rule on content left up on platform
Technology

Facebook oversight board widens scope to rule on content left up on platform

  • The board was created by Facebook Inc in response to criticism of its handling of problematic content, but has been faulted by researchers and civil rights groups for its limited remit.
  • In the coming weeks, the oversight board is also expected to decide whether to uphold Facebook's indefinite suspension of former US President Donald Trump, imposed after the Jan. 6 Capitol Hill riot.
Published 13 Apr, 2021 05:36pm
OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes
Energy

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

  • Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report, up 70,000 bpd from last month.
  • OPEC raised its forecast of 2021 world economic growth to 5.4% from 5.1%, assuming the impact of the pandemic is "largely contained" by the beginning of the second half of the year.
Published 13 Apr, 2021 05:34pm
Palm jumps 2pc tracking soyoil, crude prices
Commodities

Palm jumps 2pc tracking soyoil, crude prices

  • The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange closed higher 74 ringgit, or 2.03%, to 3,724 ringgit ($900.82) a tonne, after falling 3% in the previous session.
  • "We expect total supply to outstrip total demand leading to higher ending stocks of 1.53 million tonnes," he added.
Published 13 Apr, 2021 05:30pm
Dollar edges up before US inflation data
Forex

Dollar edges up before US inflation data

  • The dollar was up 0.1% against a basket of currencies, at 92.221, moving away from recent three-week lows.
  • The euro was down 0.2%, at $1.18935, with European shares just below all-time highs.
Published 13 Apr, 2021 05:23pm
Indian shares rebound as govt speeds up vaccine approvals
Stocks

Indian shares rebound as govt speeds up vaccine approvals

  • India is to fast-track emergency approvals for shots already approved in Western countries and Japan, paving the way for possible imports of Pfizer, Johnson & Johnson, Novavax and Moderna vaccines.
  • The NSE Nifty 50 index closed 1.36% higher at 14,504.80 and the S&P BSE Sensex ended 1.38% higher at 48,544.06, rebounding after surging infections pushed the indexes to their second-worst session this year on Monday.
Published 13 Apr, 2021 05:09pm
Jordan royal feud stirs unease in Saudi Arabia
World

Jordan royal feud stirs unease in Saudi Arabia

  • Bassem Awadallah, seen as an influential figure familiar with the inner workings of the Saudi leadership, was ensnared in a rift within Jordan's royal family that played out in full public glare.
Updated 13 Apr, 2021 04:33pm
Mexico detains 30 Marines accused of disppearances
World

Mexico detains 30 Marines accused of disppearances

  • Between the end of 2006, when the government launched a military offensive against the drug gangs, and December of last year, Mexico had 80,517 reports of missing persons, according to official figures.
Updated 13 Apr, 2021 04:33pm
USD to decline further against PKR; Expert anticipates record Remittances in Eid season
Markets

USD to decline further against PKR; Expert anticipates record Remittances in Eid season

  • “Each month $300 to $400 million dollars are coming into interbank market through exchange companies which have led to the rise in foreign exchange reserves and strengthen the local currency,” he said.
  • Malik Bostan informed that Pakistan has become the fourth largest in terms of remittance inflows, with India at the top followed by China and the Philippines.
Published 13 Apr, 2021 02:11pm
Taliban not attending peace conference in Turkey, thwarting U.S. efforts to secure peace deal
South Asia

Taliban not attending peace conference in Turkey, thwarting U.S. efforts to secure peace deal

  • On Monday, a Taliban spokesperson stated that the religious militia group will not be attending a peace conference tentatively planned for later this week in Turkey, jeopardising U.S. efforts to facilitate a practical peace plan.
  • Officials from the Biden Administration, the United States and Turkey stated that they intended to begin the conference on Friday, which was set to last around 10 days.
Updated 13 Apr, 2021 12:47pm
Volkswagen, IG Metall strike wage deal
Companies

Volkswagen, IG Metall strike wage deal

  • Volkswagen, the world's second-largest carmaker, has seen its shares rise by more than half, shrugging off the impact from the coronavirus pandemic and a chip shortage that has hit the automotive sector.
Published 13 Apr, 2021 12:39pm
PSX office/trading timing during Ramadan
Markets

PSX office/trading timing during Ramadan

  • During the month of Ramadan-ul-Mubarak 1442 A.H., the PSX will observe office hours from 9:30 a.m. to 3:30 p.m. from Monday to Thursday, while on Friday the office hours will be from 9:30 a.m. to 2:30 p.m.
Published 13 Apr, 2021 11:12am
Yuan eases as investors look to US inflation data
Forex

Yuan eases as investors look to US inflation data

  • "Although China's aggregate finance grew at a slower pace than last year, yuan loan growth was faster than a year ago, showing that shadow banking has continued to shrink," Iris Pang, chief economist for Greater China at ING, said in a note.
Published 13 Apr, 2021 11:02am
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