Trends - European Central Bank

European Central Bank

ECB's Visco says euro can only last if euro zone becomes a single state

A stateless currency can last for a certain amount of time but then there is a need for a state and a budget union.
Visco's message was similar to the one given by former ECB chief Mario Draghi last week in his maiden speech to parliament as Italy's new prime minister.

Updated 22 Feb, 2021 10:05pm

Markets

Shares turn cautious as bond yields, commodities surge

The euro was steady at $1.2120, corralled between support at $1.2021 and resistance around $1.2169.

Published 22 Feb, 2021 12:15pm

Business & Finance

ECB plans closer scrutiny of bank boards

The ECB already examines the suitability of board candidates in a so-called fit and proper assessment, but rules across the 19 euro zone members vary, so the quality of these checks can be inconsistent.
Supervisors will consider furthermore all of the diversity-related aspects that are most relevant to enhancing the individual and collective leadership of boards.

Published 19 Feb, 2021 07:55pm

Markets

Reflation trades set euro zone bonds for worst week in months

German 10-year yield set for biggest weekly jump since August.
Italian 10-year yield set for biggest weekly jump since April.
PMIs largely in line with expectations.

Published 19 Feb, 2021 05:17pm

Business & Finance

Bitcoin goldrush sparks fears of speculative bubble

European Central Bank President Christine Lagarde declared this month that bitcoin was "not a currency" and was a "highly speculative" asset requiring global regulation.

Published 19 Feb, 2021 10:28am

Business & Finance

ECB worried about euro but relaxed on yields: account

Concerns were voiced ... over developments in the exchange rate that might have negative implications for euro area financial conditions and, ultimately, consequences for the inflation outlook.
It was maintained that not every increase in nominal yields should be interpreted as an unwarranted tightening of financing conditions and trigger a corresponding policy response.

Published 18 Feb, 2021 08:47pm

World

Draghi sets out plan to rebuild virus-hit Italy

In a second speech on Wednesday evening, he also pleaded for a revival of a failed policy: forcing EU countries to each take a share of the migrants arriving from across the Mediterranean, after years of Italy shouldering much of the burden.

Published 18 Feb, 2021 10:23am

World

Italy's new PM Draghi promises sweeping reforms, urges national unity

Tells Senate his priority is fighting pandemic.
Vows sweeping tax, judicial, administrative reforms.
Draghi faces mandatory confidence vote in Senate.

Published 17 Feb, 2021 06:59pm

World

New PM Draghi to unveil plan to rescue Italy from virus crisis

The new premier has enough support without them but the rumblings highlight the fragility of his coalition.

Published 17 Feb, 2021 11:39am

Markets

Italy sees record demand in first bond sale under Draghi

Italy's 10-year bond yields fell to a record-low last week after head of state Sergio Mattarella asked Draghi to form a new government.
The Treasury set the yield on a new 10-year BTP bond at 4 basis points above the rate of an existing April 2031 BTP note, halving the initial indication of an 8 basis point spread.

Published 16 Feb, 2021 07:18pm

World

Italy's Draghi takes office, faces daunting challenges

Draghi's government is 67th since World War Two.
Cabinet includes mix of technocrats and politicians.
Must move fast to tackle array of daunting woes.

Published 13 Feb, 2021 06:00pm

Business & Finance

Draghi set to be Italy’s new PM

ROME: Former European Central Bank chief Mario Draghi was expected Friday to be formally named Italy’s new prime...

Published 13 Feb, 2021 04:11am

Markets

German consumer prices to surpass ECB target this year: Weidmann

Weidmann, who also sits on the ECB's Governing Council, said if inflation rises, the central bank would have to act accordingly.

Published 12 Feb, 2021 10:43am

Markets

Just 270 crypto addresses laundered $1.3bn in dirty funds last year, research shows

270 addresses laundered 55% of illicit crypto in 2020 – study.
Criminals using over-the-counter brokers, other services.
Regulators urging tighter rules to stop money laundering.

Published 11 Feb, 2021 08:54pm

Markets

Going digital will boost rouble's global role, Russia says

Russia's central bank first floated the idea of the digital rouble last October, saying it could be issued on top of existing cash and non-cash roubles to facilitate payments.
China's example shows that they want to use their digital currency as a tool for international settlements.

Published 11 Feb, 2021 08:36pm

World

ECB's Makhlouf near term outlook for global economy has deteriorated

In the near term, the outlook has deteriorated and become more uncertain.
"The increased vulnerabilities have clear messages. For authorities, now is not the time to unwind either fiscal or monetary support."

Published 11 Feb, 2021 08:00pm

Markets

ECB should adopt pro-climate asset, collateral bias: Villeroy

Villeroy, who is also governor of the French central bank, said the ECB had to take into account climate change because its stagflationary nature.

Published 11 Feb, 2021 01:48pm

World

Europe will need fiscal help into 2022: Lagarde

Lagarde also called on European Union leaders to kick start the bloc's 750 billion euro Next Generation EU spending package as some economic restrictions could remain in place until the second half of the year.

Updated 11 Feb, 2021 12:30am

Business & Finance

Monte dei Paschi says cash call in limbo as losses soar

Annual losses up more than 60%, hit by one-off provisions.
Net interest income down 14%, fees hold up.
In talks with EU and ECB over capital increase plans.

Published 10 Feb, 2021 06:00pm

Markets

Euro zone citizens give ECB's low rates the thumbs down

Roughly half of the respondents came from the Netherlands or Germany - two savings-rich countries where these problems have been felt more acutely.

Published 08 Feb, 2021 11:20pm

Markets

German Bund yields rise on reflation bets, Italian yields down

Hopes that a $1.9 trillion aid package will be passed in the US as soon as this month, boosting growth and inflation.
Italy, which last week saw the biggest weekly fall in 10-year bond yields in months, remained in focus in the euro area.

Published 08 Feb, 2021 05:36pm

ECB’s Lagarde says cancelling Covid debts ‘unthinkable’

PARIS: European Central Bank (ECB) chief Christine Lagarde on Sunday rejected calls to cancel debts run up by...

Updated 08 Feb, 2021 09:22am

Business & Finance

European economists urge debt cancellation

PARIS: More than 100 economists called Friday on the ECB to give a 2.5-trillion-euro ($3.0-trillion) boost the...

Published 06 Feb, 2021 04:06am

World

Draghi calls for ‘unity’ as tries to form Italian govt

ROME: Former European Central Bank chief Mario Draghi urged Italy’s splintered parties Wednesday to get behind him...

Updated 04 Feb, 2021 10:01am

Markets

European shares rise

MILAN/FRANKFURT: European shares rose on Wednesday as focus remained on a busy day of earnings, with Italian shares...

Published 04 Feb, 2021 04:13am

Business & Finance

Euro drops against dollar in Europe

LONDON: The euro dropped to a two-month low against the dollar on Wednesday, trading just above $1.20, as investors...

Published 04 Feb, 2021 04:13am

Markets

Ex-ECB chief Draghi called in after Italy govt talks fail

President Sergio Mattarella's spokesman said he had asked the former head of the European Central Bank to meet with him for talks on Wednesday.

Published 03 Feb, 2021 09:37am

Business & Finance

Sterling gains broadly

LONDON: Sterling gained against both the dollar and the euro on Tuesday as analysts bet a faster pace of ...

Published 03 Feb, 2021 04:35am

Markets

ECB keeps Italian debt purchase steady through govt crisis

Investors have been wondering whether the ECB was once again helping keep a yield on Italian bond yields since mid-January, when an unfolding government crisis only spurred a muted market reaction.
The ECB bought 18.1 billion euros of Italian debt over the last two months under its pandemic-fighting programme plus an additional 3 billion euros under its regular stimulus scheme.

Published 01 Feb, 2021 09:41pm

Markets

Stock markets rally could be fuelled by recovery hopes: ECB’s Knot

AMSTERDAM: The continuing rise of stock markets worldwide could be the result of growing hopes of economic recovery,...

Updated 01 Feb, 2021 09:06am

Gainers
Losers
Leaders

Stock	Price
Tri-Star Power / Jul 6 Tri-Star Power Limited(TSPL)	4.70 ▲ 1.00 (27.03%)
F.Credit & Inv / Jul 6 First Credit and Investment Bank Limited(FCIBL)	5.51 ▲ 1.00 (22.17%)
Ashfaq Textile / Jul 6 Ashfaq Textile Mills Limited(ASHT)	10.90 ▲ 1.00 (10.10%)
Dewan Sugar / Jul 6 Dewan Sugar Mills Limited(DWSM)	2.45 ▲ 0.20 (8.89%)
SME Leasing Ltd / Jul 6 SME Leasing Limited(SLL)	2.00 ▲ 0.15 (8.11%)
Prud Mod.1st / Jul 6 First Prudential Modaraba(PMI)	1.70 ▲ 0.12 (7.59%)
Sanofi-Aventis / Jul 6 Sanofi-Aventis Pakistan Limited(SAPL)	1426.74 ▲ 99.54 (7.50%)
AL-Noor Sugar / Jul 6 Al-Noor Sugar Mills Limited(ALNRS)	59.81 ▲ 4.17 (7.49%)
Shahmurad Sugar / Jul 6 Shahmurad Sugar Mills Limited(SHSML)	101.45 ▲ 7.07 (7.49%)
ZIL Limited / Jul 6 ZIL Limited(ZIL)	124.37 ▲ 8.67 (7.49%)

Stock	Price
K.S.B.Pumps / Jul 6 KSB Pumps Company Limited(KSBP)	130.74 ▲ -10.60 (-7.50%)
Cyan Limited / Jul 6 Cyan Limited(CYAN)	25.81 ▲ -2.09 (-7.49%)
TPL Insurance / Jul 6 TPL Insurance Limited(TPLI)	30.60 ▲ -2.47 (-7.47%)
Shahtaj Sugar / Jul 6 Shahtaj Sugar Mills Limited(SHJS)	45.60 ▲ -3.66 (-7.43%)
Thal Ind.Corp. / Jul 6 Thal Industries Corporation Limited(TICL)	233.00 ▲ -17.00 (-6.80%)
Nagina Cot. / Jul 6 Nagina Cotton Mills Limited(NAGC)	70.10 ▲ -3.91 (-5.28%)
Dewan Textile / Jul 6 Dewan Textile Mills Limited(DWTM)	3.50 ▲ -0.18 (-4.89%)
JS Bank Ltd / Jul 6 JS Bank Limited(JSBL)	3.80 ▲ -0.19 (-4.76%)
AKD Hospitality / Jul 6 AKD Hospitality Limited(AKDHL)	169.00 ▲ -8.04 (-4.54%)
Artistic Denim / Jul 6 Artistic Denim Mills Limited(ADMM)	60.00 ▲ -2.77 (-4.41%)

Stock	Volume
Unity Foods Ltd / Jul 6 Unity Foods Limited(UNITY)	3,256,316 ▼ 0.00
Agritech Limited / Jul 6 Agritech Limited(AGL)	2,283,500 ▼ 0.00
Pak Refinery / Jul 6 Pakistan Refinery Limited(PRL)	1,519,976 ▼ 0.00
Fauji Cement / Jul 6 Fauji Cement Company Limited(FCCL)	1,026,500 ▼ 0.00
Cnergyico PK / Jul 6 Cnergyico PK Limited(CNERGY)	879,010 ▼ 0.00
Maple Leaf Cement / Jul 6 Maple Leaf Cement Factory Limited(MLCF)	860,474 ▼ 0.00
Telecard Limited / Jul 6 Telecard Limited(TELE)	835,000 ▼ 0.00
TPL Properties / Jul 6 TPL Properties Limited(TPLP)	801,675 ▼ 0.00
Azgard Nine / Jul 6 Azgard Nine Limited(ANL)	703,000 ▼ 0.00
Pioneer Cement / Jul 6 Pioneer Cement Limited(PIOC)	671,453 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jul 5	206.90
USD PKR Interbank Buying / Jul 5	206.70
USD to Japanese Yen / Jul 5	135.24
USD to Swiss Franc / Jul 5	0.97
Pound Sterling to USD / Jul 5	1.20
Euro to USD / Jul 5	1.03
UK LIBOR % / Jul 5	1.57

Stock	Volume
S&P 500 / Jul 5	3831.39
India Sensex / Jul 5	53134.35
Tokyo Nikkei / Jul 5	26077.04
Nasdaq / Jul 5	11322.24
Hang Seng / Jul 5	21621.01
FTSE 100 / Jul 5	7025.47
Dow Jones / Jul 5	30967.82
Germany DAX 30 / Jul 5	12401.20
France CAC40 / Jul 5	5794.96

Item	Value
Crude Oil USD/Barrel / Jul 5	100.33
Karachi Cotton PKR/37.32 KG / Jul 5	16680.00
Gold 10 Grams PKR / Jul 5	118800.00
Gold Spot USD/Ounce / Jul 5	1770.30
Cotton US¢/pound / Jul 5	93.42

European Central Bank

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