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Coronavirus
VERY HIGH
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14024hr
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429824hr
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314,517
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23,016
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May 07, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

USA

Canada home prices, sales to moderate but remain elevated
USA

Canada home prices, sales to moderate but remain elevated

  • Rental demand is also expected to recover through 2023 as immigration and inter-provincial migration resume, and as students return to campus, the Canada Mortgage and Housing Corporation said in its 2021-2023 market outlook.
Published 06 May, 2021 08:40pm
US economy regains more private jobs in April: survey
USA

US economy regains more private jobs in April: survey

  • "The labor market is recovering and job growth is set to accelerate over coming months as the economy continues to move closer to a broader reopening," Rubeela Farooqi of High Frequency Economics said.
Published 05 May, 2021 06:50pm
US FDA expected to authorize Pfizer vaccine for 12-15-year-olds soon
USA

US FDA expected to authorize Pfizer vaccine for 12-15-year-olds soon

  • The approval is highly anticipated after the drugmaker said in March the vaccine was found to be safe, effective and produced a robust antibody responses in 12- to 15-year-olds in a clinical trial.
  • The vaccine has already been cleared in the United States for those aged 16 and above.
Published 05 May, 2021 06:26pm
US trade chief expects to engage China in 'near term' on Phase 1 deal
USA

US trade chief expects to engage China in 'near term' on Phase 1 deal

  • Tai told a Financial Times online event that she respects the need for continuity in US-China trade policy, including the two-year "Phase 1" deal implemented last year by the Trump administration.
  • "It's the agreement that we have, it's the agreement that we will work from, that we will build from," Tai said.
Published 05 May, 2021 06:20pm
Brazil industrial output falls in March for second month, but less than expected
USA

Brazil industrial output falls in March for second month, but less than expected

  • The 2.4% fall in industrial output in March was less than the median estimate in a Reuters poll of economists for a 3.5% decline, although February's figure was revised lower to a 1.0% fall.
  • Fifteen of the 26 sectors surveyed saw a decline in production on the month, including a 14.1% fall in clothing output, IBGE said.
Published 05 May, 2021 06:14pm
Facebook oversight board to rule on Trump’s return to Facebook
USA

Facebook oversight board to rule on Trump’s return to Facebook

  • Facebook's oversight board on Wednesday will decide whether to uphold the company’s indefinite suspension of former U.S. President Donald Trump.
  • Several academics and civil rights groups have publicly shared their letters urging the board to block Trump permanently, while Republican lawmakers and some free expression advocates have criticised the decision.
Published 05 May, 2021 05:08pm
Canadian pension fund reviews options for Spain's Eolia
USA

Canadian pension fund reviews options for Spain's Eolia

  • AIMCo has hired advisers to decide on strategic options for the business that operates around 860 megawatts (MW) of renewable energy generation capacity in Spain, the sources said on condition of anonymity because the matter is confidential.
Published 05 May, 2021 06:22pm
Pfizer expands production as quarterly earnings surge to $3.5 billion
USA

Pfizer expands production as quarterly earnings surge to $3.5 billion

  • Pfizer has earned $3.5 billion in the first quarter of 2021, as the ramped up sales of the COVID-19 vaccine boosted its projected annual earnings to $26 billion.
  • The American pharmaceutical company announced on Tuesday that it has raised its annual revenue guidance to up to $72.5 billion, up from $61.4 billion, predominantly due to the contractual delivery of 1.6 billion vaccine doses in 2021.
Published 05 May, 2021 10:40am
Brazilian inflation bubbles as annual March PPI hits record 33.5pc
USA

Brazilian inflation bubbles as annual March PPI hits record 33.5pc

  • The annual rate of factory gate inflation in Latin America's largest economy rose to 33.5% from 28.5%, the highest level since statistics agency IBGE's data series began in January 2014.
  • The accumulated rate of inflation in the first quarter of the year was also a record for the January-March period, rising to 14.1% from 8.9% in the three months to February, IBGE said
Published 04 May, 2021 07:51pm
Canada posts C$1.1 billion trade deficit in March
USA

Canada posts C$1.1 billion trade deficit in March

  • Canada's trade deficit with the world was C$1.1 billion ($892.21 million) in March. Analysts polled by Reuters had predicted a surplus of C$700 million after a revised C$1.42 surplus in February.
  • Exports to the United States fell 3.8% in March, while imports rose 5.2%. Canada's trade surplus with the US, it's largest trading partner, narrowed in March to C$4.3 billion.
Published 04 May, 2021 07:50pm
Melinda Gates sees US government donating COVID vaccine doses soon
USA

Melinda Gates sees US government donating COVID vaccine doses soon

  • I think the US government is looking at their supply of vaccine and deciding, okay how much should we do through COVAX, how much should we do bilaterally, so I think you're going to start to see some movement there.
  • The Bill & Melinda Gates Foundation has become one of the most powerful and influential forces in global public health, and last year committed about $1.75 billion to COVID-19 relief.
Published 04 May, 2021 05:50pm
Facebook oversight board to announce decision on Trump ban on May 5
USA

Facebook oversight board to announce decision on Trump ban on May 5

  • Facebook blocked Trump's access to his Facebook and Instagram accounts over concerns of further violent unrest following the Jan. 6 storming of the US Capitol by his supporters. It later handed the case to the oversight board.
  • The board, created by Facebook in response to criticism over its handling of problematic content, in mid-April said it had extended the public comment period on the case.
Published 03 May, 2021 07:45pm
Brazil manufacturing PMI falls to 10-month low in April
USA

Brazil manufacturing PMI falls to 10-month low in April

  • The headline PMI fell to 52.3 in April from 52.8 in March, the lowest since last June.
  • A reading above 50.0 marks expansion, while a reading below signifies contraction. The series was launched in 2006.
Published 03 May, 2021 06:47pm
Canada records C$282.56 billion budget deficit over first 11 months of 2020/21
USA

Canada records C$282.56 billion budget deficit over first 11 months of 2020/21

  • "The unprecedented shift in the government's financial results reflects the severe deterioration in the economic situation and temporary measures implemented," it said in a statement.
  • On a monthly basis, Canada posted a deficit of C$14.37 billion in February 2021, compared to the C$3.58 billion surplus recorded in February 2020.
Updated 30 Apr, 2021 08:05pm
Colombian inflation to accelerate in April despite pandemic
USA

Colombian inflation to accelerate in April despite pandemic

  • According to median predictions from 17 analysts, inflation will be 0.33% in April, compared to a 0.16% price increase during the same month last year and the 0.51% registered in March 2021.
  • That variation would take 12-month consumer price growth to 1.69%, above the 1.51% registered in March of this year.
Published 29 Apr, 2021 07:50pm
With 14.4 million unemployed, Brazil's joblessness highest on record in Feb
USA

With 14.4 million unemployed, Brazil's joblessness highest on record in Feb

  • According to IBGE, the jobless rate was 14.4% in the three months ending Feb. 28, up 2.7 percentage points from the same three-month period a year ago, when it was 11.6%.
  • Some 85.9 million Brazilians had work in February, IBGE said, stable from the prior three-month period, although still down 8.3% or 7.8 million people from the same period a year earlier.
Published 30 Apr, 2021 06:20pm
US consumer spending, income rebound in March
USA

US consumer spending, income rebound in March

  • Consumer spending, which accounts for more than two-thirds of US economic activity, increased 4.2% last month after falling 1.0% in February, the Commerce Department said on Friday.
  • Personal income jumped 21.1% after declining 7.0% in February. Economists polled by Reuters had forecast consumer spending increasing 4.1% and income surging 20.3%.
Published 30 Apr, 2021 06:22pm
Canada PM says AstraZeneca vaccine is safe, despite blood clot death
USA

Canada PM says AstraZeneca vaccine is safe, despite blood clot death

  • Francine Boyer, 54, is the first Canadian fatality linked to the AstraZeneca vaccine. She received a shot on April 9 and died on April 23 in hospital where she was being treated for fatigue and headaches, her husband said in a statement.
  • "I have tremendous confidence in all vaccines, including AstraZeneca," said Trudeau, who got his first AstraZeneca shot last Friday.
Published 28 Apr, 2021 08:26pm
US economy accelerates in first quarter; jobless claims edge lower
USA

US economy accelerates in first quarter; jobless claims edge lower

  • Still, the economy remains at least a couple of years away from fully recovering from the pandemic recession, which started in February 2020.
  • Former President Donald Trump's government provided nearly $3 trillion in relief money early in the pandemic, leading to record GDP growth in the third quarter of last year.
Published 29 Apr, 2021 05:39pm
Brazil to receive 1 million Pfizer vaccine doses on Thursday
USA

Brazil to receive 1 million Pfizer vaccine doses on Thursday

  • Over the weekend, the health ministry announced that 30% fewer vaccines had been received between January and April than expected. Queiroga said the Covax facility, an international cooperation to assist countries secure vaccines, had moved up the expected delivery of 2 million doses to May.
Published 28 Apr, 2021 08:22pm
Brazil creates 184,140 formal jobs in March, rounding off record first quarter
USA

Brazil creates 184,140 formal jobs in March, rounding off record first quarter

  • The figure for March was slightly more than the 180,000 forecast in a Reuters poll of economists and the highest figure for that month since 2010.
  • Some 1.6 million positions were created in the month and 1.4 million were cut, the ministry said. In the first quarter, Brazil created 4.94 million formal jobs and cut 4.1 million, resulting in a record net Jan-March gain of 837,074.
Published 28 Apr, 2021 08:06pm