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European Union

EU chief says UK trade pact closer but success not certain

Britain and the European Union moved closer to sealing a new trade deal but it was still not clear if they would succeed, the bloc’s chief executive said on Wednesday.
Britain and the EU are in the final stretch of talks to keep an estimated one trillion dollars of annual trade free of tariffs and quotas beyond Dec. 31, when the United Kingdom finally transitions out of the world’s largest trading bloc.

Published 16 Dec, 2020 05:38pm

World

Exclusive-Facebook to move UK users to California terms, avoiding EU privacy rules

Facebook Inc will shift all its users in the United Kingdom into user agreements with the corporate headquarters in California, moving them out of their current relationship with Facebook’s Irish unit and out of reach of Europe’s privacy laws.
Facebook is making the change partly because the EU privacy regime is among the world’s strictest, according to people familiar with the company. The EU rules give granular control to users over data about them.

Updated 16 Dec, 2020 02:53pm

World

European nations tighten virus curbs as Christmas surge fears grow

The World Health Organization has said it is in talks with Pfizer and Moderna about including their vaccines at affordable prices for poor countries.

Published 16 Dec, 2020 12:14pm

Markets

Sterling recovers as hopes for a Brexit deal are revived

Sterling dropped as low as $1.3135 last Friday when British Prime Minister Boris Johnson said a no-deal was "very, very likely".

Published 15 Dec, 2020 06:57pm

World

No trade deal still most likely Brexit scenario, UK's Johnson tells ministers

During an update for his cabinet team, Johnson "re-emphasised the desire to reach a free trade agreement, but not at any cost, and reiterated any agreement must respect the independence and sovereignty of the UK".

Published 15 Dec, 2020 06:47pm

World

UK jobless rate rises again, redundancies hit record high

The number of redundancies reached a record high of 370,000 in the August-to-October period, although it decreased in October alone, the Office for National Statistics said.

Published 15 Dec, 2020 05:11pm

Business & Finance

Euro zone bond yields dip as caution returns

Bond yields rose on Monday after an extension of trade talks between Britain and the European Union eased fears of a messy parting of ways between the two.

Published 15 Dec, 2020 04:46pm

Markets

Euro holds firm as U.S. stimulus hopes weigh on dollar

The dollar index, which measures the greenback against a basket of currencies, rose slightly to 90.802.

Published 15 Dec, 2020 04:40pm

World

Moderna expects European approval for COVID-19 vaccine on Jan. 12

"We expect approval for the EU and thus for Germany on Jan. 12," Dan Staner was quoted as saying on Monday. "As soon as we have received the approval, we can deliver."

Published 14 Dec, 2020 07:22pm

World

EU to continue post-Brexit talks as long as there is chance for deal: Germany

"Negotiations continue although all deadlines have been broken, and we think this is the right thing to do," German Foreign Minister Heiko Maas said.

Published 14 Dec, 2020 06:14pm

World

UK hopeful for EU trade deal, gaps still remain, says PM's spokesman

"We remain hopeful of reaching an agreement ... No deal is a possible outcome ... But we've been clear that we will continue to work to reach a free trade agreement,"

Published 14 Dec, 2020 05:56pm

World

EU's Barnier says ‘next few days’ important for Brexit deal talks

"Fair competition, and a sustainable solution for our fishermen and women, are key to reaching a deal."

Published 14 Dec, 2020 03:26pm

World

Brexit trade deal odds rise in betting markets as talks grind on

Many investment banks meanwhile still stuck to their expectations of a "thin" UK-EU trade deal while cutting down the probability marginally as talks drag on.

Published 14 Dec, 2020 03:20pm

World

EU-UK trade pact still possible as departure date nears

The European Union’s Brexit negotiator, Michel Barnier, said on Monday that sealing a new pact with Britain was still possible as the date for the country’s departure from the bloc edged nearer.
Despite missing multiple deadlines, Britain and the EU agreed on Sunday to “go the extra mile” to try to break deadlocks on access to UK fishing waters for EU trawlers and corporate fair play rules.

Published 14 Dec, 2020 03:07pm

World

EU rights watchdog warns of pitfalls in use of AI

The agency said AI rules must respect all fundamental rights, with safeguards to ensure this and include a guarantee that people can challenge decisions taken by AI and that companies need to be able to explain how their systems take AI decisions.

Published 14 Dec, 2020 10:53am

World

UK PM Johnson says on Brexit trade talks: we're very far apart

“The best thing to do now, for everybody, is to follow up all the work that has been done over the last four and half years, colossal amount of preparation at our ports, everywhere across the UK, get ready to trade on WTO terms, Boris said.

Published 14 Dec, 2020 10:24am

World

EU urges China to free those detained for reporting after Bloomberg employee held

Her detention comes months after China held a high-profile Chinese-born Australian journalist, citing similar suspicions.

Published 13 Dec, 2020 07:04pm

World

EU's trade deal offer to Britain 'remains unacceptable'

Talks are continuing overnight, but as things stand the offer on the table from the EU remains unacceptable.
The two sides have set a deadline of Sunday to find agreement and prevent a chaotic break.

Updated 13 Dec, 2020 02:07am

World

Britain's navy to protect fishing waters in case of no-deal Brexit

Four Royal Navy patrol ships will be ready on Jan. 1 to help protect Britain’s fishing waters in the event the Brexit transition period ends without a deal on future ties with the European Union.
There are concerns about possible skirmishes between British and foreign fishing vessels if no trade deal is reached.

Published 12 Dec, 2020 05:18pm

World

No deal on Brexit trade 'very very likely', Johnson says

Britain is likely to complete its journey out of the European Union in three weeks without a trade deal.
Britain quit the EU in January but remains an informal member until Dec. 31 - the end of a transition period during which it has remained in the EU single market and customs union.

Published 12 Dec, 2020 02:29pm

Markets

Brexit: Morgan Stanley sees FTSE 250 down as much as 10pc on no deal

Morgan Stanley sees shares of UK banks falling 10pc to 20pc in a "no deal" scenario, given there is a higher chance the Bank of England would cut interest rates into negative territory.

Published 11 Dec, 2020 06:12pm

World

EU Commission chief sees more chance of no Brexit trade deal

Britain is more likely to leave the European Union’s orbit on Dec. 31 without a trade deal than with an agreement, an EU official quoted the head of the European Commission.
A no-trade deal Brexit would damage the economies of northern Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains which stretch across Europe and beyond.

Published 11 Dec, 2020 05:30pm

World

Brexit: France's Macron hopes Britain, EU will find deal

"I'm not asking to have my cake and eat it, no. All I want is a cake that's worth its weight. Because I won't give up my share of it either,".

Published 11 Dec, 2020 05:26pm

Markets

Asia Rice-Indian rates extend gains to over 2-month high on fresh orders

Prices for the top exporter's 5% broken parboiled variety rose to $378-$383 per tonne, their highest since the week of Sept. 24, from $375-$381 last week.

Published 11 Dec, 2020 11:36am

World

EU needs to move on both level playing field and fisheries by Sunday: UK's Raab

"I think the EU will need to move significantly on both those key points because they're points of principle," Raab.

Published 10 Dec, 2020 06:16pm

World

Hungary sees chance of EU budget deal being approved on Thursday

There is a compromise, which is acceptable for Germany and meets the conditions of Hungary and Poland.

Published 10 Dec, 2020 05:51pm

Markets

French non-EU wheat export outlook raised again, maize stocks cut

Soft wheat exports in the 2020/21 season are expected to reach 6.95 million tonnes compared with 6.85 million projected last month.

Published 10 Dec, 2020 04:46pm

World

Irish foreign minister says gap still very wide in EU-UK talks

"Politics has the capacity to find a way forward in my view if the motivation is there to do that," Simon Coveney.

Published 10 Dec, 2020 04:38pm

World

EU executive proposes ways to avoid Brexit disruption without deal

The Commission said it would also soon propose a 5 billion euro ($6.05 billion) "Brexit Adjustment Reserve" as part of the EU's new 2021-2027 budget to help EU businesses adapt.

Published 10 Dec, 2020 04:09pm

Business & Finance

Banks warn EU of disruption in derivatives markets in January

In the absence of action from policymakers, there will be disruption in the market as of 1 January.

Published 10 Dec, 2020 12:45pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 10	278.14
USD PKR Interbank Buying / May 10	277.97
USD to Japanese Yen / May 10	155.78
USD to Swiss Franc / May 10	0.91
Pound Sterling to USD / May 10	1.25
Euro to USD / May 10	1.08

Stock	Volume
S&P 500 / May 10	5222.68
India Sensex / May 10	72664.47
Tokyo Nikkei / May 10	38229.11
Nasdaq / May 10	16340.87
Hang Seng / May 10	18963.68
FTSE 100 / May 10	8433.76
Dow Jones / May 10	39512.84
Germany DAX 30 / May 10	18772.85

Item	Value
Crude Oil USD/Barrel / May 10	78.26
Gold Spot USD/Ounce / May 10	2360.50
Cotton US¢/pound / May 10	77.31
Karachi Cotton PKR/37.32 KG / May 11	19935
Gold 10 Grams PKR / May 11	208762
Petrol/Litre / May 12	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 12 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 12 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 12 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 12 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 12 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 12 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 12 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 12 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 12 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 12 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 12 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 12 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 12 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 12 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 12 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 12 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 12 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 12 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 12 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 12 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 12 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 12 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 12 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 12 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 12 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 12 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 12 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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