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Coronavirus
VERY HIGH
Pakistan Deaths
16,453 ▲
13724hr
Pakistan Cases
766,882 ▲
544524hr
Sindh
273,466
Punjab
273,566
Balochistan
21,000
Islamabad
70,609
KPK
107,309
Business Recorder Logo
Apr 21, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

European Commission

EU Commission urges Ireland to rethink hotel quarantine

EU Commission urges Ireland to rethink hotel quarantine

  • The EU executive wrote to the Irish government on Friday in relation to the criteria used to determine the list, a spokesman said.
  • "The Commission has concerns regarding this measure in relation to the general principles of EU law, in particular proportionality and non-discrimination," the spokesman said.
Published 16 Apr, 2021 05:15pm
EU wants to ban use of AI for surveillance
World

EU wants to ban use of AI for surveillance

  • "The use of artificial intelligence for the purposes of indiscriminate surveillance of natural persons should be prohibited when applied in a generalised manner to all persons without differentiation," the document said.
  • The EU also wants to ban social scoring amid criticism that some companies misuse the technology for hiring, giving out loans and other major decisions which can favour privileged groups.
Published 14 Apr, 2021 08:43pm
EU seeks new contract with Pfizer for up to 1.8bn vaccines from 2022
Business & Finance

EU seeks new contract with Pfizer for up to 1.8bn vaccines from 2022

  • Earlier on Friday, German daily Die Welt reported that the Commission was shortly to sign contracts to buy up to 1.8 billion doses, but did not say with which company.
  • Pfizer-BioNTech and Moderna are already supplying the EU with mRNA vaccines and German biotech firm CureVac is seeking EU approval for its mRNA shot.
Published 09 Apr, 2021 08:43pm
Greece secures EU okay to extend 'Hercules' bad loan scheme
Business & Finance

Greece secures EU okay to extend 'Hercules' bad loan scheme

  • The scheme was launched in October 2019 to help the country's banks offload up to 30 billion euros of bad loans by turning bundles of impaired credit into asset-backed securities that can be sold to investors.
  • Deputy Finance Minister George Zavvos said that with Hercules-2 the government is determined to see a further reduction of bad loans to enable banks to fund the economy, businesses and households.
Published 09 Apr, 2021 07:16pm
Air Canada and Transat terminate planned deal after EU advises against it
Business & Finance

Air Canada and Transat terminate planned deal after EU advises against it

  • Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package.
  • Air Canada in February refused to extend the deadline for its C$188.7 million ($150.19 million) deal for Transat, after European regulators failed to give the go-ahead for the buyout.
Published 02 Apr, 2021 09:44pm
IMF hikes Italian growth forecast, urges tax reform
World

IMF hikes Italian growth forecast, urges tax reform

  • The IMF said its new projection, made in a report following an annual visit to Italy, was dependent on COVID-19 vaccinations being well advanced by late summer and continued economic support measures.
  • The Fund gave no clear explanation for the sharp upward revision of its forecast, which it warned was surrounded by "considerable uncertainty".
Published 30 Mar, 2021 08:56pm
EU presidents to go to Turkey next week, spokesman says
World

EU presidents to go to Turkey next week, spokesman says

  • Turkey, an EU candidate country, last held a formal summit with the two EU chiefs in March 2020, when Erdogan met Michel and von der Leyen in Ankara.
  • Both sides also aim to agree billions of euros in fresh EU support for Syrian refugees in Turkey.
Published 29 Mar, 2021 06:28pm
Sterling steadies
Business & Finance

Sterling steadies

LONDON: Sterling steadied against the dollar and euro on Thursday after two consecutive days of losses prompted by...
Updated 26 Mar, 2021 09:25am
EU forecasts higher wheat crop, exports in 2021/22
Markets

EU forecasts higher wheat crop, exports in 2021/22

  • In grain supply and demand data, the Commission also projected that EU exports of common wheat, or soft wheat, would reach 30.0 million tonnes next season compared with 27.0 million expected in the current 2020/21 season that ends on June 30.
Published 25 Mar, 2021 06:31pm
Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey
World

Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey

  • EU leaders are set at a summit this week to spell out its proposed offer of closer economic links, mixed with threats if Ankara moves against the bloc's interests, according to a draft statement seen by Reuters.
  • We agreed with the (Cypriot) President that at tomorrow 's European Council our two countries, as well as the union as a whole, must insist on the credible implementation of the dual track approach.
Published 24 Mar, 2021 06:55pm
Pfizer to delivery 200mn vaccine doses to EU in second quarter
Business & Finance

Pfizer to delivery 200mn vaccine doses to EU in second quarter

  • The EU is aiming to vaccinate at least 255 million people, or 70% of its adult population, by the end of the summer but has faced criticism for the slow rollout of its inoculation drive.
  • The expected Pfizer second-quarter deliveries will include 10 million doses originally due in the third and fourth quarters of this year, the Commission said.
Updated 16 Mar, 2021 10:03pm
EU may take legal action against Hungary over opposition radio licence
World

EU may take legal action against Hungary over opposition radio licence

  • Klubradio, which has broadcast for 19 years, was forced off the air last month after it lost an appeal against the removal of its licence. It has been broadcasting on the internet since mid-February.
  • The EU has long been concerned over what it sees as an erosion of democratic standards under Hungary's Prime Minister Viktor Orban. His nationalist government rejects such criticism.
Published 12 Mar, 2021 08:44pm