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Print - 2020-07-08
Alphabet's Loon launches balloon internet service in Kenya
Business Print: July 08, 2020

Alphabet's Loon launches balloon internet service in Kenya

  • "Kenya is the first country... to have base stations high up in the sky. Now we will be able to cover the whole country in a very short span of time."
  • The technology has been used before, but not commercially. US telecom operators used balloons to connect more than 250,000 people in Puerto Rico after a 2017 hurricane.
Copper punches towards January peak, boosted by Chile fears
Markets Print: July 08, 2020

Copper punches towards January peak, boosted by Chile fears

  • Copper on the London Metal Exchange has surged more than 40% since touching a 45-month low in March.
  • Momentum is really quite astonishing right now. Copper is within striking distance of hitting the January high and that is probably acting as a magnet to the market.
Indian lender SBI to invest 17.60bn rupees in Yes Bank
Business Print: July 08, 2020

Indian lender SBI to invest 17.60bn rupees in Yes Bank

  • In March this year, SBI board had approved an investment of 72.50 billion rupees into the troubled lender Yes Bank.
  • Earlier this year the Reserve Bank of India (RBI) had taken control of Yes Bank, after the bad-debt laden lender had failed to raise the capital it needed to stay above mandated regulatory requirements.
Libya lifts Es Sider force majeure, paving way for oil export boost
Markets Print: July 08, 2020

Libya lifts Es Sider force majeure, paving way for oil export boost

  • As part of the continuing review of the force majeure situation, we have recently received a formal security assessment concerning Es Sider Terminal.
  • The Delta Ocean Suezmax tanker arrived at the port on July 5, according to Refinitiv Eikon data, and was chartered by trader Unipec.
Huawei says US sanctions have no immediate impact on UK 5G supplies
Business Print: July 08, 2020

Huawei says US sanctions have no immediate impact on UK 5G supplies

  • Huawei Vice President Victor Zhang said it would take months to establish the impact of the US measures announced in May.
  • These restrictions actually haven't had an impact on Huawei's capability to supply to the UK's 5G and fibre solution at this moment," Zhang told reporters on a call.
'Weaponized' Facebook fails to protect civil rights
Business Print: July 08, 2020

'Weaponized' Facebook fails to protect civil rights

  • The audit report, which Facebook commissioned two years ago, pointed to what the authors described as a series of harmful decisions.
  • The findings come at a time when some 900 advertisers, including major brands such as Coca-Cola, have joined a boycott promoted by major US civil rights groups.
Apple expands independent repair shop program to Europe, Canada
Business Print: July 08, 2020

Apple expands independent repair shop program to Europe, Canada

  • Apple has long maintained a network of authorized service providers such as Best Buy Co Inc to perform warranty work.
  • When a customer needs a repair, we want them to have a range of options that not only suits their needs but also guarantees safety and quality so their iPhone can be used for as long as possible.
Business interruption is big unknown for insurers, says BoE
Business Print: July 08, 2020

Business interruption is big unknown for insurers, says BoE

  • "The highest level of uncertainty remains around business interruption," she told a City & Financial online event.
  • "A number of insurers are taking steps to make sure there is no ambiguity about who is and isn't covered for a second wave," Sweeney said.
Pakistan trade deficit decline by 27pc
Business Print: July 08, 2020

Pakistan trade deficit decline by 27pc

  • The country's exports at the end of the fiscal year ended June 30, 2020, stood at $21.387 billion against a target of $24 billion.

  • The country's imports during the last fiscal year were recorded at $44 billion, indicating a drop of 18.6pc from the imports recorded in 2018-19.

Rahat Kaunain appointed as CCP chairperson
Business Print: July 08, 2020

Rahat Kaunain appointed as CCP chairperson

  • The cabinet also gave approval to the appointment of Shumaila Lone and Mujtaba Lodhi as members of the CCP for three years.

  • Rahat Kaunain has previously served as chairperson of Competition Commission of Pakistan (CCP) from 2010-2013.

IPO files: TOMC
BR Research Print: July 08, 2020

IPO files: TOMC

With the book building of Pakistan’s first IPO in more-than-a-year coming to end yesterday, The Organic Meat...

PSDP: taking stock
BR Research Print: July 08, 2020

PSDP: taking stock

So how much did the federal government end up spending on development last fiscal? It’s time to take stock of the...