News Archives for Latest - 2021-04-23

Pakistan

Pakistan calls on Army to assist police in enforcing COVID SOPs as third-wave sweeps the country

Government will take help from Pakistan Army to implement coronavirus SOPs: PM
Asad Umar says indoor and outdoor dining has been banned for the month of Ramazan while indoor gyms will also remain closed
5,870 people tested positive and 144 died in the last 24 hours as third-wave accelerates

Updated 25 Apr, 2021 09:46am

Life & Style

Popular SnackVideo x Edhi Ramadan fundraising campaign gains more momentum as it raises over 5,000,000 PKR in 7 days

It’s just been a week since the start of the SnackVideo x Edhi fundraising campaign, but it has received...

Updated 24 Apr, 2021 12:50am

Energy

Oil edges higher as recovery support countered by Asia virus surge

U.S. energy firms cut the number of oil rigs operating for the first time since March, as rigs fell by one to 438 this week, according to energy services firm Baker Hughes Co.

Published 23 Apr, 2021 11:50pm

Commodities

Palladium extends record run, gold dips on strong U.S. data

Palladium hit a record high of $2,925.14 per ounce and was poised for a second straight weekly gain.

Published 23 Apr, 2021 11:45pm

Commodities

Corn, soy ease ahead of weekend, after surge to multi-year highs

CBOT wheat drew underlying support from a weakening dollar , which tends to make U.S. grains more competitive on the export market.

Updated 23 Apr, 2021 11:45pm

World

Biden, Erdogan agree to meet at NATO summit in June: White House

Biden is expected to formally recognize the massacre of Armenians by the Ottoman Empire during World War One as an act of genocide, but the statement made no mention of the issue.

Published 23 Apr, 2021 11:13pm

Pakistan

No deal made for Senate elections, opposition leader slot: Gilani

Gilani said the inflation and unemployment were the two major issues for the masses and the Pakistan Democratic Movement should better work together for the sake of people.

Published 23 Apr, 2021 11:00pm

Pakistan

174 tested positive for COVID-19 in Hyderabad

Some 12,286 citizens of Hyderabad have recovered from the virus after infection while 308 lost the battle for their lives against the virus.

Published 23 Apr, 2021 10:57pm

Pakistan

COVID-19: Pakistan extends air travel restrictions from 23 countries till April 30

The national tally of total active COVID-19 cases recorded at 84,976 with 5,870 more people tested positive, while around 144 corona patients had died during the past 24 hours.

Published 23 Apr, 2021 10:56pm

Pakistan extends travel restrictions on 23 countries till April 30

Travelers from Category C countries will have to take special permission from the NCOC for entry.
The ban also applies to Pakistani nationals, NICOPs, and POC cardholders coming from these countries.

Updated 23 Apr, 2021 09:02pm

Companies

France's Renault scraps investment in new diesel engine

Auto groups are accelerating an overhaul away from diesel and into electric cars, encouraged by more stringent rules on pollution and emissions and growing consumer demand for greener vehicles.

Published 23 Apr, 2021 08:46pm

South Asia

Hospitals overrun as India's COVID-19 infections top global record for second day

India has world's highest infection tally for second day.
Some of Delhi's hospitals shut doors to new patients.
Delhi government says army should handle oxygen deliveries.

Published 23 Apr, 2021 08:37pm

Companies

Wall Street sees long road ahead as Intel seeks to regain market share

"There are significant issues that must be overcome if this is to be a success, with investment ahead of time and profits unlikely until after 2025 if not later," Atlantic Equities analyst Ianjit Bhatti said.
"In the near term (2-3 years), we do not believe that Intel has an answer to AMD's market share gains."

Published 23 Apr, 2021 08:35pm

Sports

Tottenham won't take risks with Kane in final, says Mason

Kane hobbled off in Tottenham's 2-2 draw with Everton this month and missed Wednesday's 2-1 victory over Southampton in which Gareth Bale played up front and scored.
"We are never going to put Harry in that position, absolutely not. We will see how he is tomorrow and we can make a decision from there. Ultimately, we'll speak to him -- 'how do you feel?' -- and go from there."

Published 23 Apr, 2021 08:30pm

Forex

Dollar falls as US yields languish, euro gets boost from survey

Dollar falls back to early March lows.
Euro rebounds after upbeat purchasing manager data.
US yields languish as Fed meeting next week comes into focus.
Biden tax plan hammers cryptocurrencies.

Published 23 Apr, 2021 08:30pm

Companies

Toyota Pakistan Celebrates Record Car Production Since 1993

Toyota Pakistan celebrates the highest car production volume in March 2021.

Published 23 Apr, 2021 08:25pm

USA

US manufacturing activity accelerates in early April; supply constraints worsening

Data firm IHS Markit said on Friday its flash US manufacturing PMI increased to 60.6 in the first half of this month. That was the highest reading since the series started in May 2007 and followed a final reading of 59.1 in March.
Economists polled by Reuters had forecast the index rising to 60.5 in early April. A reading above 50 indicates growth in manufacturing, which accounts for 11.9% of the US economy.

Published 23 Apr, 2021 07:57pm

USA

U.S ‘first and foremost’ wants to vaccinate the American people,’ State Dept on COVID vaccine export to embattled India

According to the State Department, the United States under the Biden Administration "first and foremost" wants to vaccinate the American people, facing accusations of vaccine hoarding by the broader international community.
The Biden Administration has come under fire for its alleged hoarding of essential vaccines for domestic use, without sharing even a portion of its supplies with the international community.

Updated 23 Apr, 2021 07:59pm

Forex

Canadian dollar clings to weekly gain as factory sales rise

Canadian dollar strengthens 0.1% against the greenback.
Estimate shows Canadian factory sales up 3.5% in March.
Price of US oil rises 0.3%.
Canadian bond yields were little changed across the curve.

Published 23 Apr, 2021 07:55pm

Stocks

TSX gains on boost from materials

Toronto Stock Exchange's S&P/TSX composite index was up 42.4 points, or 0.2%, at 19,074.56.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures rose 0.3% to $1,786.20 an ounce. Gold prices were set for their third weekly gain on lower Treasury yields.

Published 23 Apr, 2021 07:52pm

Pakistan

13 Young Pakistanis Make it to the Forbes 30 Under 30

Thirteen young Pakistanis have made it to the Forbes 30 Under 30 list this year.
The list includes startup founders and young innovators like Hamza Jawaid, Saad Jangda, Muhammad Owais Qureshi, Zohaib Ali, Iman Jamall, Hasib Malik, Yaseen Khalid, M. Saquib Malik, Nabeel Siddiqui, Misha Japanwala, Abdullah Siddiqui, Shayan Mahmud, and Hannia Zia.

Published 23 Apr, 2021 07:54pm

Forex

Rouble hits more than 1-month high after Russia hikes rates

The central bank, which had been widely expected to raise rates to rein in high inflation due to the rouble's weakness, hiked it by a bigger-than-expected 50 basis points to 5%.
"It creates room for the undervalued rouble to rebound as heightened geopolitical risks are pared back in the near-term," said MUFG Bank in a note.

Published 23 Apr, 2021 07:50pm

Forex

Mexican peso rises; Peru's sol set for worst week in 28 years

Socialism jitters hit sol.
Brazil's real best weekly performer.
MSCI Latam FX set for 1.7% weekly gain.

Published 23 Apr, 2021 07:48pm

Sports

Shenhua start season with win over rivals Beijing

Moreno gave his side the lead in the 59th minute and Wu, who captained Jiangsu Suning to last year's title before the club folded, doubled the advantage six minutes later before Li Lei claimed an injury-time consolation for Beijing.
The game was played in front of 5,000 fans at the Kunshan Sports Center Stadium after some coronavirus restrictions were relaxed by the Chinese authorities.

Published 23 Apr, 2021 07:45pm

Money & Banking

Credit Agricole secures two-thirds acceptance in $1bn takeover bid for Creval

The acquisition allows the Italian arm of France's no.2 bank to double its market share in Italy's wealthiest areas when at a time when the country's fragmented banking sector is consolidating.
The bid was conditional on the two-thirds threshold which guarantees approval of extraordinary shareholder resolutions at meetings, allowing Credit Agricole Italia to absorb Creval and maximise projected savings.

Published 23 Apr, 2021 07:40pm

Stocks

S&P 500, Nasdaq higher after strong factory data; Amex, Honeywell results hit Dow

Bitcoin hit by tax hike plans
Amex falls as credit spending slumps
Honeywell down on aerospace unit revenue miss
Dow flat, S&P up 0.38%, Nasdaq up 0.66%

Published 23 Apr, 2021 07:36pm

Companies

Russia's idle oil refining capacity revised up by 26.6pc in May

The rise in idle primary refining capacity in May was planned mostly due to extension by 34 days of the maintenance period for the CDU-6 unit at Rosneft's Ufa refinery, Refinitiv data showed.
The offline capacity for April has been revised down by 2.5%from the previous plan to 3.37 million tonnes.

Updated 23 Apr, 2021 07:38pm

Sports

Chelsea will regain fans' trust after failed breakaway attempt: Tuchel

The ESL proposal collapsed on Wednesday as founding clubs withdrew one by one following a barrage of criticism from fans, governing bodies and even government officials who threatened to pass legislation to stop the league.
"They appreciate that very well and the people can read and can divide things from one another. The fans expressed their opinion, they were absolutely not happy.

Published 23 Apr, 2021 07:29pm

Business & Finance

Kia Cerato is launching in Pakistan by the End of 2021

After much delay due to COVID-19 and other market factors, Kia is finally set to launch its Cerato in Pakistan by the end of this year.
The launch was expected last year, however, it was pushed due to the complications caused by the COVID-19 pandemic.

Updated 23 Apr, 2021 07:02pm

Sports

De Bruyne, Aguero back for Man City as Guardiola targets fourth League Cup

De Bruyne hobbled off during City's FA Cup semi-final loss to Chelsea with an ankle injury last weekend while Aguero has not played since early March due to niggles and a muscle problem.
Guardiola's first trophy with City was the League Cup in 2018 and he has won it three years in a row since.

Published 23 Apr, 2021 06:50pm

Financial

Yields lower as traders weigh Biden tax plan prospects

The benchmark 10-year yield was down 2.3 basis points at 1.5331% in morning trading, at low end of the 1.528% to 1.646% range it has held since April 15.
Treasury auctions of 2-year, 5-year and 7-year notes on Monday and Tuesday totaling $183 billion will also show the market's appetite for US debt.

Published 23 Apr, 2021 06:45pm

Sports

Real have right to play Champions League despite Super League intentions: Zidane

UEFA president Aleksander Ceferin had said that the clubs who wished to breakaway would "suffer the consequences" but later said it was unlikely Real could be expelled from this season's Champions League.
"It's illogical (that Real could be expelled). We're going to play in the Champions League as that's our right," Zidane told a news conference ahead of his side's La Liga game against Real Betis on Saturday.

Published 23 Apr, 2021 06:43pm

Commodities

Wheat down 3-6 cents, corn and soybeans down 4-8

CBOT May wheat reached a high of $7.15 a bushel on Thursday, the highest for a most-active contract since May 2014.
CBOT July corn peaked at $6.35 a bushel in overnight trading, the highest for a most-active contract since June 2013.

Published 23 Apr, 2021 06:35pm

Stocks

S&P 500, Nasdaq open higher; Amex, Honeywell weigh on Dow

The Dow Jones Industrial Average fell 11.4 points, or 0.03%, at the open to 33804.52. The S&P 500 rose 3.8 points, or 0.09%, at the open to 4138.78?, while the Nasdaq Composite rose 43.0 points, or 0.31%, to 13861.367 at the opening bell.

Published 23 Apr, 2021 06:19pm

Business & Finance

Honda plans to offer 100% electric vehicles by 2040

Honda Motor Co is aiming to increase its ratio of EVs and FCVs sales to 40% by 2030, 80% by 2035, and 100% in two decades.
The company will invest a total of about 5 trillion yen or $46.3 billion in research and development initiatives over the next six years.

Updated 23 Apr, 2021 06:26pm

Financial

Greece to auction six-month T-bills on April 28

The debt agency last sold six-month T-bills in March with the paper priced to yield -0.24%. The settlement date of the new T-bills will be May 4.

Published 23 Apr, 2021 06:16pm

Companies

Russia's Novatek approves Arctic LNG 2 financing of $11bn by end-Q2

The $21 billion project, which received final investment approval in 2019, is expected to be launched in 2023 and to reach full capacity of almost 20 million tonnes per year in 2026.
Russia's Sberbank said in January it had approved financing of up to 3 billion euros ($3.5 billion) for the Arctic LNG 2.

Published 23 Apr, 2021 06:13pm

Money & Banking

Indian govt had no outstanding loans from RBI in April 16 week

State governments had 53.84 billion rupees ($717.84 million )of loans from the RBI in the week ended April 16, compared with 23.55 billion rupees in the previous week, the release showed.

Published 23 Apr, 2021 06:10pm

Sports

Spurs may need more than League Cup win to keep Kane: Woodgate

Spurs came up short in the League Cup final in 2015 and the Champions League final in 2019 but Kane, 27, will have another shot at silverware when they face Manchester City at Wembley on Sunday.
"They have to (win trophies now) in terms of the stadium they have built and with the players they have got," Bournemouth manager Woodgate told British media.

Published 23 Apr, 2021 06:12pm

Sports

Torch relay on public roads cancelled in Okinawa's Miyakojima

"Tokyo 2020 will continue to work closely with Okinawa prefecture and the local task forces in all other prefectures due to host Olympic Torch Relay segments in order to ensure that these events will be safe and secure for all local communities" the organising committee said in a statement.

Published 23 Apr, 2021 06:05pm

Companies

Bayer's agriculture business buoyed by higher produce prices in Q1

In the agriculture business, in particular, we see a market environment that gives us an increasingly positive perspective.
"A sizable increase in the demand for agricultural products has led to rising prices. Of course, we hope that this momentum will continue."

Published 23 Apr, 2021 06:03pm

Europe

Swedish health agency extends pause on J&J vaccine

"We think it is better to recommend the vaccines that healthcare is now used to using," Chief Epidemiologist Anders Tegnell said in a statement.
The agency said on April 14 it would not start using the COVID-19 vaccine following reports of rare blood clots, similar to those reported for the AstraZeneca shot.

Published 23 Apr, 2021 06:00pm

Companies

Moderna CEO says world faces 2022 COVID vaccine production surplus

"Next year there is going to be way too many vaccines for people on the planet," he said.
He added that Moderna was working hard to have a booster vaccine against COVID-19 variants approved by the northern hemisphere late summer or early autumn.

Published 23 Apr, 2021 05:58pm

Companies

EU seals world's largest vaccine supply deal with Pfizer

The vaccines from the US drug maker and its German partner BioNTech will be delivered over the period 2021-2023, Commission President Ursula von der Leyen said at a briefing.
The agreement would be enough to inoculate the 450 million EU population for two years and comes as the bloc seeks to shore up long-term supplies.

Published 23 Apr, 2021 05:55pm

Commodities

Prices ease after surge to multi-year highs

Corn falls after near eight-year highs.
Soybeans, wheat also ease after near seven-year peaks.
Fund flows contributed to daily limit gains on Thursday.
Weather risks, China demand keep focus on global supply.

Published 23 Apr, 2021 05:53pm

Companies

OPEC urges members to lobby against US NOPEC bill and outline risks

"These disadvantages might include: weakening the immunity principle at a global level, putting at risk US interests overseas, and the protection for their personnel and assets," the letter said.
Barkindo said "several prominent US economic actors" had expressed reservations about the NOPEC bill, including the US Chamber of Commerce.

Published 23 Apr, 2021 05:46pm

Commodities

Gold heads for third weekly gain on lower yields, weaker dollar

Gold up 0.8% so far this week
Palladium off record peak
Upcoming rise in inflation to keep gold supported-Fitch Solutions.

Published 23 Apr, 2021 05:42pm

Companies

Schlumberger signals improving international drilling activity

Schlumberger, which has been selling assets in North America, said it is benefiting from an inflection in global drilling activity which has picked up as oil prices climbed to $65.45.
Worldwide, the rig count has risen about 11.5% to 1,231 for the quarter ended in March, according to Baker Hughes data.

Published 23 Apr, 2021 05:40pm

Commodities

Asia Gold-Second coronavirus wave stifles demand in India

Buyers unwilling to step out due to COVID-19 - Indian wholesaler.
China premiums rise to $8-$10/oz versus $7-$9 last week.
Consumers reluctant due to higher prices - Singapore dealer.

Published 23 Apr, 2021 05:38pm

Commodities

China's pollution clampdown drives aluminium to three-year peak

Benchmark aluminium on the London Metal Exchange was up 1% at $2,387 a tonne at 1121 GMT. Prices of the metal used widely in the transport, construction and packaging industries earlier touched $2,389, a gain of more than 20% since January.
Electricity, much of it from coal in China, can account for 30%-40% of aluminium smelting costs.

Published 23 Apr, 2021 05:35pm

Forex

Euro regains poise as data points to stronger recovery

The euro gained 0.3% to $1.2055 while the dollar index, measured against a basket of currencies, was down 0.2% .
Real yields in the US remain deeply negative on a 10-year basis and reflect some of this uncertainty that will continue to limit the upside for the US dollar.

Published 23 Apr, 2021 05:32pm

Forex

Russian rouble hits more than 1-month high after central bank hikes rates

The central bank, which had been widely expected to raise interest rates to rein in high inflation due to the rouble's weakness, hiked by a bigger than expected 50 basis points to 5%.
Against the euro, the rouble gained 0.3% to 90.37 , nearing a more than two-week high.

Published 23 Apr, 2021 05:31pm

Stocks

European stocks eye weekly drop, Bitcoin slides on US tax hike plan

European stocks down 0.4%, S&P futures up 0.25%.
Bitcoin down 4.5%, Ethereum down 6.5%.
Euro eyes 7-week high vs dollar, euro zone PMI upbeat.

Published 23 Apr, 2021 05:28pm

Stocks

Indian shares book weekly losses as virus surge forces restrictions

The NSE Nifty 50 index fell 0.45% to 14,341.35, while the S&P BSE Sensex slid 0.42% to 47,878.45.
The indexes lost 1.89% and 1.95% for the week, respectively, as the imposition of restrictions in major cities threatened to derail a nascent economic recovery.

Published 23 Apr, 2021 05:26pm

Commodities

Palm falls as analyst forecasts abundant supplies

Palm reversed momentum to end lower.
Contract gains 5.7% this week.
Traders taking profit ahead of weekend.
Supply forecast to increase fast.
Indian port to shut weekend operations – trader.

Published 23 Apr, 2021 05:22pm

Forex

Sterling rebounds on strong retail sales, PMIs

Sales volumes leapt by 5.4% in March from February, the Office for National Statistics said. Economists polled by Reuters had expected an increase of 1.5%.
On top of retail sales, a survey showed a deluge of orders swept through British businesses in April as the country lifted some of its restrictions, pointing to a rapid rebound for the pandemic-hit economy.

Published 23 Apr, 2021 05:19pm

Africa

Egypt and Russia agree to resume all flights, including to resorts

Flights to resort destinations Sharm al-Sheikh and Hurghada were suspended after a Russian passenger plane crashed in Sinai in October 2015, killing 224 people.
The Egyptian statement did not specify a timeline for the resumption of flights, but Russia's Interfax news agency reported this week that flights could resume in the second half of May.

Published 23 Apr, 2021 05:10pm

Financial

Euro zone bond yields edge lower after ECB meeting

IHS Markit's flash Composite PMI Index, seen as a good guide to economic health, rose to 53.7 from March's 53.2, confounding expectations in a Reuters poll for a dip to 52.8.
Germany's 10-year government bond yield, the benchmark of the euro area, fell 1 basis point at -0.27%.

Published 23 Apr, 2021 05:13pm

Financial

Total orders for Italy's 'BTP Futura' bond reach 5.48bn euros

For the first four years the coupon rate will remain unchanged, while those for the following four-year periods might be revised upwards, based on market conditions.
Unlike previous issuances, the BTP Futura's "loyalty premium", linked to Italy's nominal gross domestic product growth, will be paid in two tranches, at the end of the first eight years and at maturity.

Published 23 Apr, 2021 05:07pm

Money & Banking

Thai central bank says non-residents can trade THOR-linked OIS

"The THOR OIS transactions traded by non-residents are expected to be another key driver to help advance the development of the THOR derivatives market", Assistant Governor Vachira Arromdee said in a statement.
The THOR has been adopted in various financial instruments, including interbank lending, promissory notes, corporate bonds, corporate structured notes, and the central bank's floating-rate notes, she said.

Published 23 Apr, 2021 05:03pm

Commodities

Ukraine farm minister opposes sunflower seed export ban

The economy ministry said this week it had proposed banning exports of sunflower seeds from May 15 to Sept. 30, even though volumes of seed exports have been tiny.
Ukraine this week limited sunoil exports to 5.38 million tonnes in the 2020/21 season in a bid to prevent a jump in sunoil prices on domestic market.

Published 23 Apr, 2021 05:01pm

Pakistan

PM inaugurates Kohsar University in Murree

Imran says the establishment of Kohsar University is an important step forward to promote the tourism sector in the country
Education is the only way to change a person's fate and the masses expect their governments to invest in health and education: PM

Published 23 Apr, 2021 04:52pm

Industry

Maroc Telecom first-quarter profit falls 7.7pc

Revenue shrank 4.2% to 8.9 billion dirhams although the company's customer base grew 11.3% to 73 million.
Maroc Telecom, which is listed on the Casablanca Stock Exchange and Euronext Paris, is 53% controlled by the UAE's Etisalat, with the Moroccan state owning 22%.

Published 23 Apr, 2021 04:56pm

Commodities

South Korea's KFA buys estimated 201,000 tonnes corn in tender

The corn can be sourced optionally from the United States, South America or South Africa.
Some 68,000 tonnes was purchased at an estimated $305.31 a tonne c&f for arrival in South Korea around Aug. 25, traders said. Seller was believed to be trading house Cofco.

Published 23 Apr, 2021 04:41pm

Sports

Lewandowski back in Bayern squad with title in touching distance

Lewandowski, who has netted 35 times in the league this season, is hoping to hit the ground running in the last four matches as he chases Gerd Mueller's all-time Bundesliga record of 40 goals in one season in 1971/72.
For Flick, however, securing their ninth consecutive league crown on Saturday is the top priority. Bayern are in top spot on 71 points, 10 ahead of second-placed RB Leipzig.

Published 23 Apr, 2021 04:39pm

Europe

EU will watch planned withdrawal of Russian troops closely

"What matters for the EU is what is going to happen on the ground as of today," the spokesman of the EU's executive told Reuters on Friday.
"The EU reaffirms its unwavering support for the independence, sovereignty and territorial integrity of Ukraine within its internationally recognised borders," the spokesman added.

Published 23 Apr, 2021 04:36pm

South Asia

Thailand cuts 2021 foreign tourist target to 4mn after new outbreak

The four million arrivals are expected in the second half of the year, Pipat Ratchakitprakarn told reporters, as the tourism-reliant nation prepares to reopen more broadly to visitors after more than a year of tight entry procedures.

Published 23 Apr, 2021 04:33pm

Companies

Wizz Air sees summer capacity at between 60pc-80pc

"I'm pretty sure summer is going to be better than where we are today," Varadi told a virtual aviation conference on Friday.
"My view is not demand-driven from the consumer or not supply-driven from the airline, it is the unpredictability of the government actions, and government imposed restrictions."

Published 23 Apr, 2021 04:31pm

Europe

EU seals deal with Pfizer-BioNTech for up to 1.8bn doses of vaccine

This is the third contract sealed by the bloc with the two companies, which have already agreed to deliver 600 million doses under two previous contracts.

Published 23 Apr, 2021 04:28pm

Europe

Baltics order four Russian diplomats to leave

The Czech Republic last week said the two Russian spies accused of a nerve agent poisoning in Britain in 2018 were also behind an explosion at a Czech ammunition depot in 2014 that killed two people.

Published 23 Apr, 2021 04:22pm

Companies

AmEx profit beats on over $1bn reserve release boost

"We view 2021 as a transition year, where we are focused on making investments to rebuild growth momentum in our core business, Chief Executive Officer Stephen Squeri said in a statement.
Consultancy firm McKinsey said in a report last month that overall credit-card spending is recovering, with figures for the last six months matching the pre-pandemic levels recorded a year earlier.

Published 23 Apr, 2021 04:22pm

Africa

Oxford-developed Malaria vaccine hailed as potential medical breakthrough

A malaria vaccine, developed by the University of Oxford, has proved to be 77% effective in early trials; being seen as a potential major breakthrough in the fight against the disease.
On the basis of these results, larger trials will now be carried out in nearly 5000 children between the ages of five months and three years, across four African states.

Published 23 Apr, 2021 04:03pm

Business & Finance

Ashmore Investment to sell its stake in Pakistan’s can maker

The entire offer of 93,888,000 Ordinary Shares will be offered through the book building process at a Floor Price of PKR 35/- per share i.e. translated into Rs3.3 billion rupees ($22 million).

Published 23 Apr, 2021 03:39pm

Business & Finance

Data logs show Tesla Model 3 was traveling at nearly 120 kph before crash in China

Tesla released the car’s data logs after the market regulator of Zhengzhou, Henan, where the crash occurred, ordered Tesla to unconditionally provide Zhang with complete driving data for the 30 minutes leading up to the crash.
Tesla asserts that its stance is based on vehicle data, while the woman alleges the data was tampered with.

Updated 23 Apr, 2021 03:13pm

Pakistan

Money laundering case: Shehbaz Sharif released on bail from Kot Lakhpat Jail

The LHC had approved Shehbaz Sharif’sbail after the initial order of the court, granting bail to the opposition leader, was sent to the referee judge due to a dispute between the judges
Last week, a division bench comprising Justice Sardar Muhammad Sarfraz Dogar and Justice Asjad Javed Ghural, issued a split decision on the petition of Shahbaz

Updated 23 Apr, 2021 03:01pm

Business & Finance

WB approves $400mn financing for Pakistan's Education & Healthcare

The KP Spending Effectively for Enhanced Development (SPEED) program will help the provincial government strengthen its management of public resources and fiscal planning to sustain human capital investments in education and healthcare services.

Published 23 Apr, 2021 02:31pm

Pakistan

NA session deferred without debating French envoy’s expulsion

The resolution on the issue of the French envoy’s expulsion from Pakistan was tabled in the assembly earlier this week.
NA Speaker Asad Qaiser had sought names from parliamentary leaders of all parties having representation in the NA for inclusion in the proposed special committee of the house to take up the issue.

Updated 23 Apr, 2021 02:18pm

Pakistan

Toshakhana case: Court orders auction of Nawaz Sharif's seized properties

The decision comes on a plea by the National Accountability Bureau (NAB) seeking auction of the seized properties of former prime minister Nawaz Sharif
The accountability judge directed the authorities concerned to auction the former premier’s moveable and immoveable properties and deposit the money into the national exchequer

Published 23 Apr, 2021 01:55pm

Pakistan

Pakistan's Edhi Foundation offers its services in helping tackle the COVID-19 crisis in India

Faisal Edhi has written a letter to Indian Prime Minister Narendra Modi and offered to provide humanitarian assistance
India reported the world's highest daily tally of coronavirus cases, surpassing 330,000 new cases

Published 23 Apr, 2021 12:45pm

Business & Finance

PIA cancels flights to Canada amid COVID-19 ban

The ban officially takes effect on Friday, 11:30 pm (PST).

Published 23 Apr, 2021 12:23pm

Pakistan

Agreement between govt, TLP fully implemented, says information minister

Minister says a resolution has been tabled in the National Assembly by the government while the workers of banned TLP, who were arrested under the MPO Ordinance 1960, have been released
Protests by the activists of the banned religious party have ended in the country, says Fawad

Updated 23 Apr, 2021 12:21pm

USA

U.S. CDC probes new death, hospitalisation after J&J vaccine shots - officials

The U.S. Centers for Disease Control and Prevention (CDC) is investigating the death of an Oregon woman and the hospitalisation of another in Texas after receiving Johnson & Johnson's (JNJ.N) COVID-19 vaccine, state health officials said.
The incidents come as advisers to the CDC are set to meet on Friday to consider whether it is safe to resume injections of the single-dose vaccine, while senior health officials prepare for a green light.

Published 23 Apr, 2021 12:01pm

Asia

Desperate hunt for missing Indonesian submarine as oxygen set to run out

Rescue aircraft and ships scoured the sea north of Bali on Friday as the hunt for a missing Indonesian submarine with 53 crew on board reached a critical phase due to limited supplies of oxygen aboard the 44-year-old vessel.
More navy ships left the Indonesian base of Banyuwangi early on Friday to head to the Bali Sea where contact was lost with the KRI Nanggala-402 on Wednesday during a torpedo drill.

Published 23 Apr, 2021 11:58am

World

13 COVID-19 patients die in India's hospital fire

The incident comes two days after 25 COVID-19 patients on ventilators died in a hospital in Nashik when their oxygen supply was interrupted by a leak in a supply line.
India reported 332,730 new coronavirus cases and 2,263 deaths on Friday.

Published 23 Apr, 2021 11:44am

USA

Biden’s climate summit zeroes in on technology to help fight global warming

U.S. President Joe Biden’s climate summit will turn to the issue of technology on Friday, featuring remarks from entrepreneurs Bill Gates and Michael Bloomberg, after Thursday’s Earth Day kickoff sought to rally world ambition to reduce global warming.
The Democratic president, who returned the United States to the pact, announced a new U.S. target on Thursday to reduce its emissions 50%-52% by 2030 compared with 2005 levels. Japan and Canada also raised their targets. read more

Published 23 Apr, 2021 11:56am

South Asia

Pakistan to shift to 60% clean energy by 2030, according to PM's Climate aide

On Thursday, Pakistan assured the international community that it would shift to 60% clean energy and 30% electric vehicle use by 2030.
Addressing the Leaders Summit in Washington, Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam urged developed nations to fulfil their commitment to help others make this transition from carbon-based to clean energy.

Updated 23 Apr, 2021 11:55am

World

Over 100 wounded in clashes with police in Jerusalem: medics

The Palestinian Red Crescent said it had treated at least 105 people, with some 20 of them hospitalised.

Published 23 Apr, 2021 11:46am

Stocks

Tokyo stocks close lower ahead of virus state of emergency

The benchmark Nikkei 225 index fell 0.57 percent or 167.54 points to end at 29,020.63.

Published 23 Apr, 2021 11:43am

Business & Finance

SBP imposes penalties of over Rs 97mn on major banks

The SBP takes supervisory enforcement actions against those institutions that fail to comply with legal or regulatory requirements and these actions may range from the imposition of penalties, administrative and financial sanctions, and reference to concerned law enforcement/prosecution agencies.

Published 23 Apr, 2021 11:41am

Forex

Dollar wallows as traders reassess taper timing; cryptocurrencies tumble

Bitcoin slumped 4.2% to below $50,000, and briefly touched $48,338. It has fallen every day but two since reaching a record high of $64,895.22 on April 14.

Published 23 Apr, 2021 11:41am

Forex

Australia, NZ dollar hit by US capital tax doubling plan

New Zealand government bonds eased, sending yields about 2-3 basis points higher across the curve.

Published 23 Apr, 2021 11:39am

Energy

US oil may edge up to $62.62 before falling

The wave C is expected to resume thereafter.

Published 23 Apr, 2021 11:37am

Commodities

Palm oil poised to break resistance at 4,028 ringgit

On the daily chart, the uptrend looks steady. It is riding on a wave C which is expected to travel into 4,301-4,576 ringgit range.

Published 23 Apr, 2021 11:36am

Energy

Brent oil may bounce to $66.46

A further gain may signal a continuation of the uptrend from $60.27.

Published 23 Apr, 2021 11:35am

Commodities

CBOT soybeans may extend gains into $15.56-1/4 to $15.72-1/4 range

The only choice is to follow the trend.

Published 23 Apr, 2021 11:33am

Bullion Rate

Spot gold may drop to $1,763

On the daily chart, a retracement analysis on the fall from $1,875.26 reveals a key resistance at $1,799, around which the rise lost its momentum.

Published 23 Apr, 2021 11:31am

Bullion Rate

Gold heads for weekly rise on subdued US Treasury yields, dollar

Palladium rose 0.1% to $2,839.21 per ounce but was off a record $2,891.50 hit on Thursday.

Published 23 Apr, 2021 11:29am

Forex

Yuan off 6-week high, investors await global central bank policy signals

China's official PMI is due for release next Friday.

Published 23 Apr, 2021 11:27am

Forex

China says increased flexibility in yuan can release market pressure

The yuan briefly firmed to its strongest level against the US dollar in nearly six weeks on Thursday as the greenback weakened.

Published 23 Apr, 2021 11:25am

Stocks

Australia shares unchanged as miners, energy stocks offset gains in banks

Troubled wealth manager AMP jumped to the top of the index, advancing 7.6%, after it announced plans of a spin off and re-branding of its unit AMP Capital's private markets business, ending talks with Ares Management to sell the business.

Published 23 Apr, 2021 11:24am

Stocks

Australia shares set to slip at open, NZ edges higher

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index edged higher in early trade on Friday.

Published 23 Apr, 2021 11:21am

Stocks

Hong Kong shares higher at lunch after US tax hike reports

The Hang Seng Index rose 0.90 percent, or 258.98 points, to 29,014.32 by noon.

Published 23 Apr, 2021 11:19am

Business & Finance

Pakistan economy needs to grow 7-9pc to generate jobs, curb debt: Report

The report highlighted that investment and productivity, which are the two major drivers of growth are not only rather low in Pakistan, but are on a decline.

Published 23 Apr, 2021 11:16am

Stocks

Asia markets struggle for direction after US tax hike reports

Euro-dollar trades were softer after the European Central Bank kept its massive pandemic-fighting stimulus package in place at a Thursday meeting, as the continent's ailing economies face slow coronavirus recoveries.

Published 23 Apr, 2021 11:14am

Opinion

PTI, FBR & tax directories — I

Failure of the coalition of Pakistan Tehreek-i-Insaf (PTI) vis-à-vis economic governance, changing four finance...

Updated 23 Apr, 2021 11:15am

Business & Finance

Swiss-EU deal: Live or let die?

But ahead of Swiss President Guy Parmelin's meeting with European Commission president Ursula von der Leyen, Bern has kept its cards close to its chest on what approach it plans to take.

Published 23 Apr, 2021 11:12am

World

Polish judge critical of government spared detention

The disciplinary chamber behind Thursday's decision is itself one of the controversial reforms introduced by the PiS.

Published 23 Apr, 2021 11:10am

World

The global economic response to climate change: what's the plan?

Here is a rundown of the latest in the global effort to fight climate change:

Published 23 Apr, 2021 11:04am

Sports

Jessica Korda stretches lead to three strokes at LPGA LA Open

The 28-year-old American dubbed it "another good day" at Wilshire Country Club, where she followed up a course record-equalling 64 with a largely stress-free, steady round.

Published 23 Apr, 2021 11:01am

Sports

UEFA weighs Super League revenge and changing Euro host cities

Their setback showed money does not inevitably win in football and some want to make sure that the defeated big clubs fall as hard as possible.

Published 23 Apr, 2021 10:59am

Sports

Lewandowski back with Bayern on verge of ninth straight league title

"Dortmund are under much more pressure than us."

Published 23 Apr, 2021 10:57am

Stocks

Hong Kong shares open higher after US tax hike reports

The Hang Seng Index began up 0.15 percent, or 43.11 points, at 28,798.45.

Published 23 Apr, 2021 10:56am

Technology

SpaceX aiming for Friday morning launch to ISS

"In terms of getting the operations ready, it's always easier the third time you do it," Daniel Forrestel, a NASA launch integration manager, told AFP.

Published 23 Apr, 2021 10:54am

Stocks

Tokyo stocks open lower on Biden tax hike reports

Toyota was down 1.36 percent at 8,254 yen and Panasonic was off 0.92 percent at 1,343.5 yen.

Published 23 Apr, 2021 10:52am

World

Japan faces new virus emergencies, three months before Olympics

Authorities in Osaka have said health facilities there are already overwhelmed, with beds for seriously ill patients running short.

Published 23 Apr, 2021 10:51am

Pakistan

After Iran, Qureshi leaves for Turkey to discuss Afghan peace process

The foreign minister will participate in a trilateral meeting to be attended by the Foreign Ministers of Turkey and Afghanistan
Qureshi will also hold bilateral talks with his Turkish counterpart Mevlut Cavusoglu

Published 23 Apr, 2021 10:43am

World

French fishermen prepare to block UK trucks in Brexit protest

The UK had insisted it wanted to take back control of its waters while EU coastal states sought guarantees that their fleets could keep fishing in British waters.

Published 23 Apr, 2021 10:49am

Sports

Norwegian duo Hovland, Ventura grab share of lead in PGA Tour team event

Australian Cameron Smith, who won the tournament in 2017 in its first incarnation as a team event, drained a 38-foot eagle putt at the par-five second to help him and fellow Aussie Mark Leishman get to 63.

Published 23 Apr, 2021 10:47am

World

Top Brazil court uphold's 'bias' ruling against Lula judge

Four cases implicating Lula that were heard in the Curitiba court have been transferred to a federal court in the capital Brasilia.

Published 23 Apr, 2021 10:45am

Sports

Zurich Classic of New Orleans scores

Viktor Hovland/Kris Ventura (NOR/NOR), Brice Garnett/Scott Stallings (USA/USA)

Published 23 Apr, 2021 10:44am

Sports

Brazil wants Neymar at Tokyo Olympics

The Olympic football tournament begins just 10 days later and is due to finish on August 8, two days after the start of the French Ligue 1 season.

Published 23 Apr, 2021 10:42am

Technology

Intel tops expectations as chip demand high

Intel has unveiled plans to spend $20 billion building two new plants in Arizona as part of a plan to boost production at home and in Europe.

Published 23 Apr, 2021 10:40am

World

US sends aircraft to aid in Indonesia submarine search

An oil spill where the submarine was thought to have submerged pointed to possible damage to its fuel tank, and fanned fears of a deadly disaster.

Published 23 Apr, 2021 10:38am

World

US to send reinforcements to protect withdrawal from Afghanistan

He also said that a key concern was "the ability of the Afghan Air Force to fly" without support.

Published 23 Apr, 2021 10:36am

World

WHO jab experts want more AZ clot data from outside Europe

SAGE said most clotting cases were reported in Britain and the European Union, with very few cases noted in other countries.

Published 23 Apr, 2021 10:35am

Companies

Delta plans to buy 25 Airbus planes amid expected travel rebound

Delta last week reported a quarterly loss, but pointed to an expected return to profitability later in 2021 amid quickly rising travel demand.

Published 23 Apr, 2021 10:33am

Sports

WNBA's Jones joins NBA Blazers to guide basketball strategy

Jones worked with the Mystics as a player development assistant coach in 2018 and 2019 before becoming a full-time assistant in December 2019.

Published 23 Apr, 2021 10:31am

Stocks

Talk of more Biden tax hike proposals rattles Wall Street

All three major US indices dropped 0.9 percent.

Published 23 Apr, 2021 10:29am

Sports

Messi double fires Barcelona to victory over Getafe, Atleti beat Huesca

With Luis Suarez out injured, Correa has filled the void. He scored twice against Eibar on Sunday and put Atletico ahead again after 39 minutes.

Published 23 Apr, 2021 10:28am

World

Spanish PM condemns death threat against minister

"Today it is me, but if the impunity and media whitewashing of the far-right continues, tomorrow it will be other colleagues."

Published 23 Apr, 2021 10:26am

World

Fresh warning from Covid solutions group, one year on

At its launch on April 25 last year, the pandemic was still in its infancy.

Published 23 Apr, 2021 10:23am

Business & Finance

U.S. stocks close down on news of Biden tax proposal

The three main indexes on Wall Street also fell on reports that Biden planned to raise income taxes on the wealthy, a proposal some said would be hard to pass in Congress.

Published 23 Apr, 2021 10:18am

Sports

Atalanta held in Rome as five-goal Napoli crush Lazio to boost Champions League hopes

Napoli took the lead through a Lorenzo Insigne penalty on seven minutes awarded following a VAR review, the first of a brace on the night for the team skipper.

Published 23 Apr, 2021 10:21am

World

'Deep concern' at UN Security Council over Tigray crisis

African members in turn have favored mediation by the African Union.

Published 23 Apr, 2021 10:18am

World

Chile Senate approves early pension fund withdrawals

There were also protests in other neighborhoods of the capital and one by staff at the San Antonio port in the Valparaiso region.

Published 23 Apr, 2021 10:16am

World

3 rockets hit Baghdad airport base housing US troops: security sources

One of the sources said the projectiles hit the section of the airbase occupied by Iraqi troops, who share the base.

Published 23 Apr, 2021 10:14am

Sports

Vardy strikes as Leicester beat West Brom to boost top-four bid

"This group will sometimes lose games but they are so honest and they want to be better. When you have that it is the dream ticket. It is all you can ask for as a coach."

Published 23 Apr, 2021 10:13am

Pakistan

Pakistan receives 0.5m doses of SinoVac from China

The National Command and Operation Centre (NCOC) said the latest consignment was procured from China on payment.

Published 23 Apr, 2021 10:10am

World

Biden doubles US emissions cut target as summit lifts climate hopes

Canadian Prime Minister Justin Trudeau, another early ally of Biden, boosted ambitions of his energy-exporting country to reductions of 40-45 percent below 2005 levels, compared with an earlier target of 30 percent.

Published 23 Apr, 2021 10:11am

Companies

Tesla can be fooled into unmanned driving: report

"It continued to drive with no warnings to the driver to stay engaged. We were surprised how easy it was to defeat the insufficient safeguards."

Published 23 Apr, 2021 10:09am

World

UN refugee boss concerned at 'dangerous' Chad situation

Humanitarian agencies often cite upper estimates in the hope of attracting donations for aid programmes they say are woefully under-funded.

Published 23 Apr, 2021 10:08am

Sports

Stalwart French club Bordeaux in survival battle as US backers pull plug

King Street said they had invested 46 million euros ($55 million) since splashing out 100 million euros for the club in 2018.

Published 23 Apr, 2021 10:06am

UK apologises for ‘pervasive racism’ over imperial war dead

LONDON: Britain on Thursday offered an "unreserved apology" after a new report said hundreds of thousands of African...

Updated 23 Apr, 2021 10:05am

SOEs’ contributions to exchequer shared with Hammad

ISLAMABAD: The annual profit earning before tax of State-owned Entities (SOEs) under the administrative control of...

Updated 23 Apr, 2021 10:05am

NAB decides to file reference against ex-PSM chief, others

ISLAMABAD: The National Accountability Bureau (NAB), on Thursday, decided to file a corruption reference against...

Updated 23 Apr, 2021 10:05am

Additional judges of LHC: JCP recommends 13 names for appointment

ISLAMABAD: The Judicial Commission of Pakistan (JCP), on Thursday, recommended 13 names for the appointment as...

Updated 23 Apr, 2021 10:05am

98 more die of Covid-19 across country

ISLAMABAD: Pakistan, Thursday, reported 98 Covid-19 deaths and 5,857 coronavirus cases after 57,591 tests were...

Updated 23 Apr, 2021 10:05am

PM convenes NCOC meeting today

ISLAMABAD: Prime Minister Imran Khan has convened a meeting of the National Coordination Committee on Coronavirus...

Updated 23 Apr, 2021 10:05am

Easy loans to fishermen: Four private banks sign MoU with Maritime Ministry

ISLAMABAD: Prime Minister Imran Khan on Thursday said the reduction in poverty and uplift in the poor’s living...

Updated 23 Apr, 2021 10:05am

Money laundering reference: Shehbaz granted post-arrest bail

LAHORE: A full bench of the Lahore High Court on Thursday allowed post-arrest bail to Leader of Opposition in...

Updated 23 Apr, 2021 10:05am

Pakistan

Maryam asks rulers to compete with Shehbaz in public service

LAHORE: Reacting to grant of post-arrest bail to Leader of the Opposition in the National Assembly Shehbaz Sharif in...

Updated 23 Apr, 2021 10:05am

Pakistan

‘Blatant violation of Constitution’: HEC Ordinance yet to be laid in parliament: Sherry

ISLAMABAD: Pakistan Peoples Party (PPP) parliamentary leader in Senate Sherry Rehman on Thursday said that despite...

Updated 23 Apr, 2021 10:05am

Pakistan

President, PM vow not to let terrorism resurface in country

ISLAMABAD: President Dr Arif Alvi and Prime Minister Imran Khan on Thursday strongly condemning the terrorist attack...

Updated 23 Apr, 2021 10:05am

Pakistan

Ramazan bazaars: Proper monitoring being carried out: DC

FAISALABAD: “On the instructions of Punjab government, the benefits of Ramazan bazaars being provided to the ...

Updated 23 Apr, 2021 10:05am

Pakistan

We will only meet PM, says Tareen

LAHORE: Pakistan Tehreek-e-Insaf (PTI) senior leader Jahangir Tareen has said that soon his group will meet Prime...

Updated 23 Apr, 2021 10:05am

Pakistan

NAB should summon PM, ECC chairman in sugar crisis: Khaqan

ISLAMABAD: Former prime minister Shahid Khaqan Abbasi said on Thursday that Prime Minister Imran Khan and chairman...

Updated 23 Apr, 2021 10:05am

Pakistan

Minister commends foreign-funded projects in KP

ISLAMABAD: Federal Minister for Economic Affairs Omar Ayub Khan held a meeting with the Government of...

Updated 23 Apr, 2021 10:05am

Pakistan

Governor Sindh meets GDA leaders

KARACHI: Leaders of Grand Democratic Alliance (GDA) Masroor Jatoi and Arif Mustafa Jatoi called on Sindh Governor...

Updated 23 Apr, 2021 10:05am

Pakistan

36 Pakistani Universities included in THE’s Impact Rankings

ISLAMABAD: Thirty six Pakistani universities have made it to the Times Higher Education (THE) Impact Rankings for...

Updated 23 Apr, 2021 10:05am

Pakistan

Bail of Jehangir Tareen, son extended till May 3

LAHORE: A sessions court here Thursday extended bail of PTI former Secretary Jehangir Khan Tareen and his son Ali...

Updated 23 Apr, 2021 10:04am

Pakistan

Govt working on creating a Buddhist trail: PM

ISLAMABAD: An 11-member delegation of prominent Buddhist monks from Sri Lanka, who were visiting Pakistan on the...

Updated 23 Apr, 2021 10:04am

Pakistan

Qureshi to undertake two-day official visit to Turkey

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi will undertake a two-day official visit to Turkey from today...

Updated 23 Apr, 2021 10:04am

Pakistan

Debt relief for poor countries demanded

KARACHI: Constant and towering increase in debts, huge increase in energy cost, rise in petroleum prices are the...

Updated 23 Apr, 2021 10:04am

Pakistan

Minister directs commissioners to monitor anti-dengue campaign

LAHORE: Punjab Health Minister Dr Yasmin Rashid has directed the Commissioners and Deputy Commissioners to monitor...

Updated 23 Apr, 2021 10:04am

Pakistan

Complete lockdown avoided for sake of labour community: Buzdar

LAHORE: Provincial Ministers Muhammad Ajmal Cheema and Khayal Ahmad Kastro met with Chief Minister Punjab Sardar...

Updated 23 Apr, 2021 10:04am

Pakistan

Developing countries: Call to ensure equitable supply of Covid-19 vaccine

ISLAMABAD: Foreign Secretary Sohail Mahmood has stressed the need to ensure equitable and affordable supply of...

Updated 23 Apr, 2021 10:04am

Pakistan

Buzdar, Sarwar discuss political situation

LAHORE: Federal Minister for Aviation Ghulam Sarwar Khan has said the government with the cooperation of the people...

Updated 23 Apr, 2021 10:04am

Pakistan

GUS, Edceum sign MOU

KARACHI: In a pioneering development, Edceum and GUS (Global Education Systems) have partnered mutually to benefit...

Updated 23 Apr, 2021 10:04am

Pakistan

PIA sets target to be first with all vaccinated crew

KARACHI: Pakistan International Airline (PIA) has set a target to be the first carrier in the country with all...

Updated 23 Apr, 2021 10:04am

Pakistan

Another spell of heatwave from today

KARACHI: Yet another heat wave spell is on its way to strike the metropolis between April 23 and April 25, the Met...

Updated 23 Apr, 2021 10:04am

Pakistan

Construction of roads, flyovers: SHC orders Sindh govt, KMC, other authorities to submit report

KARACHI: The Sindh High Court (SHC) on Thursday sought report about the construction of roads, flyovers and their...

Updated 23 Apr, 2021 10:04am

Pakistan

‘The Sindh Public Finance Administration Bill 2019’ passed into law

KARACHI: The Sindh Assembly on Thursday passed “The Sindh Public Finance Administration Bill 2019” into law,...

Updated 23 Apr, 2021 10:04am

Pakistan

FEB & GIF beneficiaries to be paid through NBP accounts

ISLAMABAD: The Federal Employees Benevolent and Group Insurance Fund (FEB & GIF) has informed that the amount of...

Updated 23 Apr, 2021 10:04am

Pakistan

SAU observes World Earth Day

HYDERABAD: Sindh Agriculture University (SAU) celebrated the World Earth Day, and an awareness rally was held from...

Updated 23 Apr, 2021 10:04am

World

Tokyo Motor Show cancelled first time ever

TOKYO: This year’s Tokyo Motor Show has been cancelled for the first time ever because of the coronavirus,...

Updated 23 Apr, 2021 10:04am

World

Mars helicopter makes second flight

WASHINGTON: NASA successfully carried out a second flight on Mars on Thursday of its mini helicopter Ingenuity, a...

Updated 23 Apr, 2021 10:04am

World

Turkish crypto exchange founder vanishes with reported $2bn

ISTANBUL: Turkish prosecutors on Thursday launched an investigation after the Istanbul-based founder of a...

Updated 23 Apr, 2021 10:04am

World

ECB keeps cheap money tap open

FRANKFURT: Christine Lagarde on Thursday underlined the European Central Bank’s commitment to cheap money as the...

Updated 23 Apr, 2021 10:04am

World

German finance minister denies responsibility for Wirecard scandal

BERLIN: Germany’s finance minister on Thursday denied responsibility for the collapse of payments firm Wirecard in...

Updated 23 Apr, 2021 10:04am

World

Russia orders end to huge military drills near Ukraine

MOSCOW: Russia’s defence minister on Friday ordered an end to military drills near Ukraine’s border involving...

Updated 23 Apr, 2021 10:04am

World

Virus reaches Everest as climber tests positive

KATHMANDU: A Norwegian climber hoping to summit Everest confirmed Thursday that he has tested positive for Covid-19,...

Updated 23 Apr, 2021 10:04am

World

Covid 3rd wave peak in France ‘appears to be behind us’: PM

PARIS: The peak of the third wave of the Covid-19 pandemic in France “appears to be behind us”, Prime Minister...

Updated 23 Apr, 2021 10:04am

World

UAE suspends flights from India as Covid cases spike

DUBAI: The United Arab Emirates on Thursday suspended all flights from India, including transit passengers, as...

Updated 23 Apr, 2021 10:03am

World

Pfizer confirms fake vaccine shots on sale in Mexico, Poland

WASHINGTON: Fake doses of the Pfizer coronavirus vaccine were being sold in Mexico and Poland for as much as $2,500 ...

Updated 23 Apr, 2021 10:03am

World

India posts global record of 315,000 daily Covid cases

NEW DELHI: India posted a global record of almost 315,000 new Covid infections on Thursday as hospitals in New Delhi...

Updated 23 Apr, 2021 10:03am

Money & Banking

Aussie, kiwi near one-month highs

SYDNEY: The Australian and New Zealand dollars hovered near recent one-month highs on Thursday with major...

Updated 23 Apr, 2021 10:01am

Companies

Shell Pakistan posts Rs1.9bn PAT for Q1 2021

KARACHI: The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter financial results on...

Updated 23 Apr, 2021 10:01am

Money & Banking

SBP’s reserves down by $63m

KARACHI: The State Bank of Pakistan’s foreign exchange reserves decreased by $ 63 million during last week due to...

Updated 23 Apr, 2021 10:01am

Money & Banking

Sterling falls

LONDON: Sterling fell on Thursday, erasing the week’s gains against the dollar, as investors weighed up the ...

Updated 23 Apr, 2021 10:01am

Business & Finance

US weekly jobless claims hit 13-month low; home sales tumble

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell to a 13-month low last week,...

Updated 23 Apr, 2021 10:01am

Money & Banking

Bank Alfalah’s profitability up 23pc

KARACHI: The Board of Directors of Bank Alfalah Limited in its meeting held on April 22, 2021, approved the Bank’s...

Updated 23 Apr, 2021 10:01am

Industry

Pakistan, China hold webinar in Jakarta: BoI chief presents investment opportunities in CPEC

ISLAMABAD: The Board of Investment (BoI) presented investment opportunities in the CPEC during a webinar jointly...

Updated 23 Apr, 2021 10:01am

Money & Banking

Early trade in New York: Euro and dollar waffle

NEW YORK: Major currencies gyrated between modest gains and losses on Thursday as markets tried to digest European...

Updated 23 Apr, 2021 10:01am

Business & Finance

Coffee and cake provide Nestle pandemic comfort

ZURICH: Swiss food giant Nestle said Thursday that strong sales of coffee, baking goods and pet foods helped raise...

Updated 23 Apr, 2021 10:01am

Business & Finance

Mexico inflation rises to highest in over 3 years

MEXICO CITY: Mexican annual inflation rose faster than anticipated in the first half of April, reaching its highest...

Updated 23 Apr, 2021 10:01am

Industry

Entities be brought under tax net: KCCI

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has proposed that all the entities engaged in business...

Updated 23 Apr, 2021 10:01am

Money & Banking

Euro rises in Europe

LONDON: The euro edged higher before a European Central Bank meeting later on Thursday, where any positive comments...

Updated 23 Apr, 2021 10:01am

Companies

Tata Steel sues Liberty Steel over £100m deal

LONDON: Tata Steel revealed Thursday that it has launched legal action against troubled UK rival Liberty Steel over...

Updated 23 Apr, 2021 10:01am

Duty-free car import: FBR changes definition of word ‘tourists’

ISLAMABAD: The Federal Board of Revenue (FBR) has changed the definition of ‘tourists’ for allowing temporary...

Updated 23 Apr, 2021 09:38am

Nepra maintains KE’s exclusivity till licence expiry

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has maintained exclusivity of Karachi-Electric (KE)...

Updated 23 Apr, 2021 09:35am

Action needed to tackle ‘climate crisis’: Advisor

ISLAMABAD: Advisor to the Prime Minister on Climate Change Malik Amin Aslam said Thursday that action is needed to...

Updated 23 Apr, 2021 09:32am

Pakistan

NCC mulls a possible lockdown today as national positivity ratio jumps to 10.90%

The NCC meeting has been summoned by Prime Minister Imran Khan.
The meeting will discuss imposing further restrictions in cities where the positivity ratio is exceeding 10%.

Published 23 Apr, 2021 09:25am

South Asia

Canada bans passenger flights from India and Pakistan to combat third-wave of COVID-19

On Thursday, the Canadian government announced that it would be temporarily barring passenger flights from India and Pakistan for the next 30 days, as part of stricter measures to combat the spread of the coronavirus.
This decision was enacted by the left-leaning government of Prime Minister Justin Trudeau after prominent right-leaning politicians criticised Ottawa's lack of response in dealing with the third wave of the pandemic.

Published 23 Apr, 2021 09:11am

BR Research

Interview with Dr. Arshad Ahmad - Vice Chancellor, LUMS

“We have embraced a ‘no-borders’ agenda by incentivizing cross-disciplinary work”. Dr. Arshad Ahmad is the...

Published 23 Apr, 2021 07:45am

BR Research

Choppy waters

Be careful what you wish for! Pakistanis have been opposed to American presence in the country’s backyard, but now...

Published 23 Apr, 2021 07:40am

BR Research

Covid-19 strategy needs shock therapy!

The catastrophic rise of Covid-19 cases in India, and the horrors that are unfolding after the Indian government...

Published 23 Apr, 2021 07:35am

BR Research

Engro Fertilizers stellar profits

Engro Fertilizers Limited announced its 1QCY21 financial results and there was plenty to cheer for the shareholders...

Published 23 Apr, 2021 07:30am

BR Research

Arresting interest rate trends

There seems to be a change of heart in banks’ treasury offices. This is suggested by the decline in T-Bills yields...

Published 23 Apr, 2021 07:25am

Pakistan

Alkhidmat to provide soft loans for small busineses

KARACHI: Under the Mowakhat programme, Alkhidmat is providing interest free soft loans up to Rs50,000 to deserving...

Published 23 Apr, 2021 05:13am

Pakistan

Overcharging: Profiteers, shopkeepers fined Rs7m in Sindh

KARACHI: Some 4800 profiteers and shopkeepers across Sindh were fined Rs 7 million for over charging or not...

Published 23 Apr, 2021 05:13am

Pakistan

Centralised customer protection compensation fund: SECP proposes amendment relating to ongoing contributions

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed revision in the procedure for...

Published 23 Apr, 2021 05:13am

Pakistan

SMEDA, HEC sign MoU

LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) on Thursday signed a Memorandum of...

Published 23 Apr, 2021 05:13am

Pakistan

CLPA says none of its firms identified for cancellation

ISLAMABAD: Crop Life Pakistan Association Thursday confirmed that none of its member companies have been identified...

Published 23 Apr, 2021 05:13am

Pakistan

Quetta blast: PM directs ministry to hold in-depth probe

ISLAMABAD: Prime Minister Imran Khan on Thursday directed the Ministry of Interior to hold an in-depth investigation...

Published 23 Apr, 2021 05:13am

Rates.SBP

State Bank of Pakistan conversion rates

KARACHI: Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates,...