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Print - 2020-02-26
Micro-pollution ravaging China, South Asia: study

Micro-pollution ravaging China, South Asia: study

Nearly 90 percent of the 200 cities beset by the world's highest levels of deadly micro-pollution are in China and India, with most of the rest in Pakistan and Indonesia, researchers reported Tuesday. Taking population into account, Bangladesh emerged as
Published 26 Feb, 2020 12:00am
Blue chips lead PSX decline: BRIndex100 extends losses
Stocks

Blue chips lead PSX decline: BRIndex100 extends losses

A bearish trend continued on Pakistan Stock Exchange on the second day in a row due to selling in various sectors. BRIndex100 lost 31.96 points or 0.78 percent to close at 4,045.07 points Tuesday. BRIndex100 touched intraday high of 4,089.42 and intraday
Published 26 Feb, 2020 12:00am
Bail granted to Khaqan, Ahsan

Bail granted to Khaqan, Ahsan

The Islamabad High Court (IHC) on Tuesday granted bail to former prime minister Shahid Khaqan Abbasi and former interior minister Ahsan Iqbal in separate corruption cases. A division bench of IHC comprising Chief Justice Athar Minallah and Justice Lubna S
Published 26 Feb, 2020 12:00am
Punjab Cabinet declines extension in bail to Nawaz

Punjab Cabinet declines extension in bail to Nawaz

The Punjab Cabinet, which met here on Tuesday with Chief Minister Sardar Usman Buzdar in the chair, has decided not to extend the bail of former prime minister Nawaz Sharif who is currently in London for medical treatment. Punjab Law Minister Raja Bashara
Published 26 Feb, 2020 12:00am
PML-N mending fences with the powers that be?

PML-N mending fences with the powers that be?

Speculation is rife in the federal capital that Pakistan Muslim League-Nawaz (PML-N) may emerge as an 'alternate' to the ruling Pakistan Tehreek-e-Insaf (PTI) following latter's arguably dismal performance during its past one and a half years in power.
Published 26 Feb, 2020 12:00am
Hosni Mubarak dead at 91

Hosni Mubarak dead at 91

Egypt's former president Hosni Mubarak, who ruled for three decades before he was ousted amid the Arab Spring protests in 2011, died Tuesday at age 91.
Published 26 Feb, 2020 12:00am
FY20 revenue target: PM approached for reactivation of tax policy board

FY20 revenue target: PM approached for reactivation of tax policy board

The National Assembly Standing Committee on Finance Chairman Faiz Ullah Kamoka has approached Prime Minister Imran Khan to immediately reactivate the policy board of the Federal Board of Revenue (FBR) to guide the tax authorities towards achieving the rev
Published 26 Feb, 2020 12:00am
MoF identifies reasons behind revenue shortfall

MoF identifies reasons behind revenue shortfall

The Finance Ministry has identified unprecedented compression in imports, less consumption of petroleum products, decline in auto and auto parts sector, less growth in airline sector, overall economic slowdown, and very challenging and unprecedented reven
Published 26 Feb, 2020 12:00am
UK could lose $32 billion in EU exports without trade deal: UN

UK could lose $32 billion in EU exports without trade deal: UN

Britain could lose up to $32 billion annually in exports to the European Union if it fails to strike a trade deal with the bloc, UN economists said on Tuesday. The UN Conference on Trade, Investment and Development (UNCTAD) said the losses would be the eq
Published 26 Feb, 2020 12:00am
India, US cut defence deals worth $3 billion

India, US cut defence deals worth $3 billion

India and the United States on Tuesday announced defence deals worth over 3 billion dollars and made progress on a comprehensive trade agreement. President Donald Trump held discussions with Prime Minister Narendra Modi in New Delhi on areas including coo
Published 26 Feb, 2020 12:00am
Trump reiterates offer to mediate on Kashmir

Trump reiterates offer to mediate on Kashmir

US President Donald Trump on Tuesday reiterated his earlier offer to mediate between India and Pakistan on Kashmir, adding that his relationship with the leaders of both the countries is strong, reported NDTV.
Published 26 Feb, 2020 12:00am
Riots in Delhi overshadow Trump visit

Riots in Delhi overshadow Trump visit

More than a dozen people have been killed and hundreds injured in clashes between opposing groups of protesters in New Delhi, hospital officials said on Tuesday, as riots overshadowed U.S. President Donald Trump's first visit to India.
Published 26 Feb, 2020 12:00am
Gulf states cut Iran links as coronavirus cases rise

Gulf states cut Iran links as coronavirus cases rise

Gulf countries announced new measures Tuesday to cut links with Iran to prevent coronavirus spreading after the confirmation of 20 new cases, all of them people returning from the Islamic republic. The United Arab Emirates suspended passenger and cargo fl
Published 26 Feb, 2020 12:00am
NA body takes ministry to task on exports, other matters

NA body takes ministry to task on exports, other matters

A meeting of the National Assembly's Standing Committee on Commerce on Tuesday expressed its annoyance over the performance of the Commerce Ministry with respect to exports, rampant smuggling and delay in appointment of a permanent chief executive officer
Published 26 Feb, 2020 12:00am
US slams 'new curbs' on social media

US slams 'new curbs' on social media

The United States said on Tuesday that the "new restrictions" on social media platforms in Pakistan could be a "setback to freedom of expression and development of digital economy".
Published 26 Feb, 2020 12:00am
'Naya Pakistan' not possible without 'new Karachi': Umar

'Naya Pakistan' not possible without 'new Karachi': Umar

Minister for Planning, Development and Special Initiative Asad Umar Tuesday said that fulfilling the dream of Naya Pakistan was not possible without remodelling of Karachi. "Inshallah New Karachi will be built and Naya Pakistan will also be built," he sai
Published 26 Feb, 2020 12:00am
Ex-Karachi Nazim Naimatullah dies

Ex-Karachi Nazim Naimatullah dies

Former Karachi Nazim, Naimatullah Khan, known to be the architect of the Tameer-e-Karachi programme, passed away on Tuesday after a prolonged illness. He was 90.
Published 26 Feb, 2020 12:00am
Bilawal's 'forecast'
Letters

Bilawal's 'forecast'

Pakistan People's Party chairman Bilawal Bhutto Zardari has made an interesting forecast: "PTI government will be over in 6 months". According to him, Nawaz Sharif was also a 'selected' prime minister like Imran Khan. In this regard, he has also said the
Published 26 Feb, 2020 12:00am
Coronavirus fears loom over giant US toy show
Articles

Coronavirus fears loom over giant US toy show

There is no China Pavilion at this year's Toy Fair owing to the new coronavirus outbreak, and the travails of the world's second-biggest economy hang over the giant trade show. Output in China - by far the world's biggest maker of toys - has slowed to a t
Published 26 Feb, 2020 12:00am
Retrieving untaxed/ill-gotten assets - II
Articles

Retrieving untaxed/ill-gotten assets - II

A breakthrough was made by media showing that investment in Dubai alone by Pakistanis during the past 10 years was in billions, yet instead of taking actions against the offenders, the government of PTI also extended asset whitening scheme, the details of
Published 26 Feb, 2020 12:00am
Tax challenges of digital economy
Articles

Tax challenges of digital economy

Pakistan is too small player - in fact, an insignificant player in the new global game called digital economy, advancing fast in the wake of fourth industrial revolution (4IR). Therefore, instead of rushing thoughtlessly into a world that is being trodden
Published 26 Feb, 2020 12:00am
The coronavirus spectre

The coronavirus spectre

China's national figure for new coronavirus infection had fallen for the third consecutive day on Wednesday. Foreign Minister Wang Yi was cautiously optimistic as he said: "Results show that our control efforts are working". But that doesn't seem to be th
Updated 26 Feb, 2020 08:13am
Drop in C/A deficit

Drop in C/A deficit

The news on the external sector of the economy continues to be encouraging. According to the latest data released by the State Bank of Pakistan, current account (C/A) deficit of the country has nosedived to dollar 2.654 billion during July-January of the
Updated 26 Feb, 2020 08:13am
Sharjeel Memon indicted in liquor recovery case

Sharjeel Memon indicted in liquor recovery case

Pakistan People's Party (PPP) leader Sharjeel Memon along with four accused on Tuesday were indicted in recovery of liquor bottles case. The PPP leader, his three servants - Shakar Din, Mushtaque Ali and Muhammad Jam-, Central Jail, Karachi assistant supe
Published 26 Feb, 2020 12:00am
Abbasi, Iqbal granted bail: NAB decides to move SC against IHC's order

Abbasi, Iqbal granted bail: NAB decides to move SC against IHC's order

The National Accountability Bureau (NAB) has decided to approach the Supreme Court against the order of the Islamabad High Court (IHC) that granted bail to former prime minister Shahid Khaqan Abbasi and the former interior minister Ahsan Iqbal on Tuesday.
Published 26 Feb, 2020 12:00am
LG elections: ECP asks Punjab CS to provide required data

LG elections: ECP asks Punjab CS to provide required data

The Election Commission of Pakistan (ECP) on Tuesday expressed concern over non-provision of relevant data for the local government elections in Punjab by the provincial government, and has asked the provincial chief secretary to immediately provide the r
Published 26 Feb, 2020 12:00am
Engro wins UNGC award for second year in a row
Business & Economy

Engro wins UNGC award for second year in a row

In recognition of promoting UNGC Principles and Sustainable Development Goals, Engro Corporation has won the first prize for "Living the UN Global Compact Business Sustainability Award 2019 in the Large National Category, for the second year in a row. The
Published 26 Feb, 2020 12:00am
Gold down by Rs 1150

Gold down by Rs 1150

Gold on Tuesday receded to Rs 95,150 per tola, down by Rs 1150 on the local market, traders said. The yellow metal is now available for Rs 81,576 per 10 grams, down by Rs 986 and $1655 an ounce, down by $29. Silver was selling for Rs 1050 per tola, down b
Published 26 Feb, 2020 12:00am
MOL Pakistan holds four free eye camps in TAL Block

MOL Pakistan holds four free eye camps in TAL Block

MOL Pakistan Oil & Gas Company in collaboration with Al-Shifa Eye Trust Hospital Kohat organized four eye camps in different villages of TAL Block of the Khyber Pakhtunkhwa. The eye camps organized on the request of the local elders benefited more than 2,
Published 26 Feb, 2020 12:00am
NDMA, RAHNUMA-FPAP sign MoU

NDMA, RAHNUMA-FPAP sign MoU

National Disaster Management Authority (NDMA) has signed a Memorandum of Understanding (MoU) with RAHNUMA-Family Planning Association of Pakistan (FPAP) on Tuesday. Lt Gen Muhammad Afzal, Chairman NDMA, and Syed Kamal Shah, CEO, RAHNUMA-FPAP, signed the M
Published 26 Feb, 2020 12:00am
Government urged to promote Banarsi products
Business & Economy

Government urged to promote Banarsi products

"The high-quality and delicate handmade banarsi work, which though being done at a smaller scale in Orangi market, cannot be compared with other similar products being manufactured in India but unfortunately the Pakistani made banarsi products are unable
Published 26 Feb, 2020 12:00am
44 water supply schemes rehabilitated in Swat, Buner

44 water supply schemes rehabilitated in Swat, Buner

The Provincial Disaster Management Authority (PDMA) has rehabilitated 44 projects in Buner and Swat districts. Official sources in the PDMA informed Tuesday that the project would benefit as many as 28,000 families of remote areas of the two districts.
Published 26 Feb, 2020 12:00am
'SBP to incentivise global payment gateways'
Money & Banking

'SBP to incentivise global payment gateways'

The State Bank of Pakistan (SBP) will incentivise international payment gateways to promote information technology sector exports, freelancing, and the digital economy. "The SBP is already offering incentives, while more are in the pipeline to facilitate
Published 26 Feb, 2020 12:00am
PM wants his pictures removed from utility stores

PM wants his pictures removed from utility stores

Prime Minister (PM) Imran Khan on Tuesday directed immediate removal of his pictures from the utility stores. Showing his resentment over installation of his portraits outside the utility stores, PM Imran Khan said his motive was only to serve the masses
Published 26 Feb, 2020 12:00am
China keen to upgrade Pakistan agriculture: envoy

China keen to upgrade Pakistan agriculture: envoy

Excellency, Yao Jing, Chinese Ambassador has met with Dr Muhammad Azeem Khan, PARC at PARC HQs, Islamabad. Detailed discussion was carried out about the investment of agriculture sector in Pakistan under CPEC. His Excellency suggested for further material
Published 26 Feb, 2020 12:00am
Over 1,000 cartons of smuggled cigarettes set ablaze
Taxes

Over 1,000 cartons of smuggled cigarettes set ablaze

The Chief Commissioner of Regional Tax Office, Sardar Ali Khwaja, said on Tuesday his department had a firm resolve to frustrate the movement of smuggled goods, and no obstacle would be accepted in achieving this objective.
Published 26 Feb, 2020 12:00am
US agriculture expert visits UAF

US agriculture expert visits UAF

Dr Dilbagh Singh, agriculture expert from USA, on Tuesday, visited University of Agriculture Faisalabad and called on UAF experts to discuss the area of collaborations.
Published 26 Feb, 2020 12:00am
AkzoNobel sees new dawn rising with 2020 Color of the Year unveiled

AkzoNobel sees new dawn rising with 2020 Color of the Year unveiled

Revealed to audience of architects, interior designers, culture connoisseurs and patrons in Punjab Public Library (Wazir Khan Baradari) - a historical site from the Mughal era located between NCA and Punjab Public library; the venue provided the perfect b
Published 26 Feb, 2020 12:00am
Minister for recovery of Professional Tax
Taxes

Minister for recovery of Professional Tax

Sindh Minister for Excise and Taxation & Narcotics Control and Parliamentary Affairs Mukesh Kumar Chawla has said that departmental action will be taken against those officers who fail to achieve recovery of Professional Tax in their respective beats/ are
Published 26 Feb, 2020 12:00am
Explosive licences: Senate panel summons Interior minister, secretary

Explosive licences: Senate panel summons Interior minister, secretary

The Senate Standing Committee on Problems of Less Developed Areas on Tuesday expressed concern over "explosive licences being issued to unknown companies" in Balochistan, and summoned Interior Minister Ijaz Shah and Secretary Interior Yousaf Naseem Khokha
Published 26 Feb, 2020 12:00am
Panel recommends Constitution (Amend) Bill, 2019

Panel recommends Constitution (Amend) Bill, 2019

A parliamentary panel on Tuesday recommended the Constitution (Amendment) Bill, 2019 moved by Pakistan People's Party (PPP) MNA Dr Nafisa Shah for approval from the National Assembly. The National Assembly Standing Committee on Law and Justice held here h
Published 26 Feb, 2020 12:00am
Musharraf case: SHCBA challenges LHC decision

Musharraf case: SHCBA challenges LHC decision

The Sindh High Court Bar Association (SHCBA) on Tuesday challenged the Lahore High Court (LHC) decision to strike down notification of the special court, which awarded death sentence to General Pervez Musharraf (retd) in the high treason case.
Published 26 Feb, 2020 12:00am
Acquittal pleas in RPP case: NAB fails to submit reply before court

Acquittal pleas in RPP case: NAB fails to submit reply before court

The National Accountability Bureau (NAB) on Tuesday failed to submit its reply before the Accountability Court regarding acquittal pleas filed by former prime minister Raja Pervaiz Ashraf and others in Karkey Rental Power Plant (RPP) case under the NAB Am
Published 26 Feb, 2020 12:00am
Pak-Iran border: Balochistan government to boost screening facilities

Pak-Iran border: Balochistan government to boost screening facilities

Balochistan government on Tuesday decided to further boost screening facility at the border with Iran amid coronavirus outbreak in the neighboring country. According to sources, the Balochistan government has decided to enhance the number of staff at the
Published 26 Feb, 2020 12:00am
Importance of Kashmir cannot be denied anymore: Qureshi

Importance of Kashmir cannot be denied anymore: Qureshi

Foreign Minister Shah Mahmood Qureshi on Tuesday said that the importance of Kashmir could not be denied anymore, as the United States President, Donald Trump, reiterated his mediation offer on Kashmir in New Delhi.
Published 26 Feb, 2020 12:00am
Proposed increase in KE tariff: Power Division submits two options to ECC
Energy

Proposed increase in KE tariff: Power Division submits two options to ECC

Power Division has reportedly submitted two options to the Economic Coordination Committee (ECC) for an informed decision on proposed increase of Rs 4.87 per unit in KE tariff comprising 11 quarters determined by Nepra, well-informed sources in KE told <i
Published 26 Feb, 2020 12:00am
Government urged to slash customs duties on import
Taxes

Government urged to slash customs duties on import

The Pakistan FMCG Importers Association (PFIA) has urged the government to bring customs duties down on import to discourage the smuggling which is also hurting the genuine commercial importers.
Published 26 Feb, 2020 12:00am
LHC directs AGP to assist in Maryam's case

LHC directs AGP to assist in Maryam's case

The Lahore High Court on Tuesday directed the Attorney General of Pakistan to assist the court on March 11 in response to a petition of Maryam Nawaz seeking one-time permission to travel abroad to inquire after her ailing father Nawaz Sharif.
Published 26 Feb, 2020 12:00am
Facilities in Punjab's 43 prisons automated by UNODC with INL funding

Facilities in Punjab's 43 prisons automated by UNODC with INL funding

The United Nations Office on Drugs and Crime (UNODC) and the Bureau of International Narcotics and Law Enforcement (INL) jointly handed over the formal control and implementation of the Prison Management Information System (PMIS) to the Punjab Prisons Dep
Published 26 Feb, 2020 12:00am
TPL Trakker partners with Eat Mubarak
IT & Computers

TPL Trakker partners with Eat Mubarak

TPL Trakker, a Pakistan's leading IoT company, on Tuesday partnered with Eat Mubarak, a local food delivery service, to power their app with TPL Maps, a business segment of TPL Trakker and Pakistan's first digital mapping service.
Published 26 Feb, 2020 12:00am
Iran's envoy for promoting ties in different sectors
Business & Economy

Iran's envoy for promoting ties in different sectors

Ambassador of Iran Seyed Muhammad Ali Hosseini has said that Iran desires to further promote relations in different sectors with the Punjab government. With the promotion of cultural activities, relationships between the two countries will also enhance, h
Published 26 Feb, 2020 12:00am
20 eateries sealed across Punjab for violating rules

20 eateries sealed across Punjab for violating rules

The Punjab Food Authority (PFA) carried out a crackdown against adulterated milk and disposed of 28,500 litres chemically contaminated milk by placing screening pickets at the entry and exit points of the provincial metropolis here on Tuesday.
Published 26 Feb, 2020 12:00am
Fazl, Shahbaz discuss political situation

Fazl, Shahbaz discuss political situation

The Jamiat Ulema-e-Islam (JUI-F) Chief, Maulana Fazlur Rehman, on Tuesday talked to the leader of the opposition in the National Assembly Shahbaz Sharif over the phone to discuss the prevailing political situation and opposition's future line of action.
Published 26 Feb, 2020 12:00am
IFRS 9 applicability date for Modarabas revised
Stocks

IFRS 9 applicability date for Modarabas revised

The Securities and Exchange Commission of Pakistan (SECP) has announced that the effective date for applicability of International Financial Reporting Standard - Financial Instruments (IFRS 9) for Modaraba companies would be reporting period/year ending o
Published 26 Feb, 2020 12:00am
Wah Nobel Chemicals Limited
Brief Recordings

Wah Nobel Chemicals Limited

Wah Nobel Chemicals Limited (PSX: WAHN) was established in 1982 and is part of a larger business group of which Wah Nobel (Pvt) Limited is the parent company.
Updated 26 Feb, 2020 04:19am
World's oldest man dies in Japan at 112

World's oldest man dies in Japan at 112

A Japanese man recently named the world's oldest living male has died aged 112, a local official said Tuesday. Chitetsu Watanabe, who was born on March 5, 1907 in Niigata, north of Tokyo, died on Sunday at his nursing home in the same prefecture, the offi
Published 26 Feb, 2020 12:00am
China sentences Swedish bookseller Gui Minhai to 10 years' jail

China sentences Swedish bookseller Gui Minhai to 10 years' jail

China has sentenced Swedish book publisher Gui Minhai to 10 years in prison on charges of illegally providing intelligence abroad, and claimed him as a citizen, prompting Stockholm to call for his release in a case that has rattled diplomatic relations.
Published 26 Feb, 2020 12:00am
Saudi Arabia names new tourism, sports, investment ministries

Saudi Arabia names new tourism, sports, investment ministries

Saudi Arabia announced on Tuesday the creation of three new ministries, for tourism, sports and investment, according to royal decrees that also unveiled a sweeping cabinet reshuffle. The shake-up, which saw the return of ousted former energy minister Kha
Published 26 Feb, 2020 12:00am
Last Soviet marshal and 1991 coup plotter Yazov dies

Last Soviet marshal and 1991 coup plotter Yazov dies

The last marshal of the Soviet Union Dmitry Yazov, who was a key player in the political turmoil that precipitated the collapse of the USSR, died in Moscow on Tuesday aged 95.
Published 26 Feb, 2020 12:00am
Saudi court sentences 8 for spying for Iran

Saudi court sentences 8 for spying for Iran

A Saudi criminal court on Tuesday sentenced one citizen to death and seven others to jail on charges of treason and spying for the kingdom's arch-nemesis Iran, state television reported. The Saudi sentenced to death was accused of "betraying his country a
Published 26 Feb, 2020 12:00am
Brexit talks turn sour as EU, UK clash

Brexit talks turn sour as EU, UK clash

Britain and Brussels clashed Tuesday over upcoming Brexit talks, with London roundly rejecting key elements of the EU's negotiating platform, setting up an acrimonious start to negotiations next week.
Published 26 Feb, 2020 12:00am
CBOT corn futures fall on supply worries
Commodities

CBOT corn futures fall on supply worries

Chicago Board of Trade corn futures fell for a fourth straight session and notched contract lows, pressured by forecasts for ample supplies of the grain and worries about the spread of coronavirus beyond China, traders said. Spillover weakness from tumbli
Published 26 Feb, 2020 12:00am
Russian wheat prices decline after month-long slide
Commodities

Russian wheat prices decline after month-long slide

Russian wheat export prices registered a fourth consecutive weekly decline last week, dragged down by competition with other major exporters, but the pace of the fall has slowed, SovEcon agriculture consultancy said on Monday.
Published 26 Feb, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,191. The traded value of metals, energy and COTS/FX was recorded at PKR 12.867 billion and the number of lots traded was 16,380.
Published 26 Feb, 2020 12:00am
EU wheat falls as jump in coronavirus cases outside China
Commodities

EU wheat falls as jump in coronavirus cases outside China

European wheat fell on Monday following a slump on US markets and global financial markets as a jump in coronavirus cases outside China fuelled global growth worries. Benchmark May milling wheat on Paris-based Euronext, closed at 189.50 euros a tonne, dow
Published 26 Feb, 2020 12:00am
US natural gas futures fall on mild weather
Energy

US natural gas futures fall on mild weather

US natural gas futures fell over 2% on Monday on forecasts for milder weather and lower heating demand over the next two weeks than previously expected. Front-month gas futures for March delivery on the New York Mercantile Exchange (NYMEX) fell 4.6 cents,
Published 26 Feb, 2020 12:00am
Activities at Karachi and Port Qasim
Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 123,083 tonnes of cargo comprising 57,540 tonnes of import cargo and 65,543 tonnes of export cargo including 4,692 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 26 Feb, 2020 12:00am
Improved trading activity seen on cotton market
Cotton & Textile

Improved trading activity seen on cotton market

Volume of business went up on the cotton market on Tuesday as some leading mills indulged in panic buying following the uncertainties created by spread of coronavirus the world over, dealers said. The official spot rate maintained week-end level at Rs 900
Published 26 Feb, 2020 12:00am
China's iron ore hits 1-1/2-month high
Commodities

China's iron ore hits 1-1/2-month high

China's iron ore futures climbed to their highest in more than six weeks on Monday after data showed stockpiles of the steelmaking raw material at the country's ports declined for two consecutive weeks. Beijing's promise to step up policy support to count
Published 26 Feb, 2020 12:00am
Turkish lira down again
Money & Banking

Turkish lira down again

Turkey's lira tumbled 0.7% on Tuesday, giving up earlier gains against the dollar, as investors fretted over the global spread of coronavirus and the quarantining of 132 people in Ankara who were aboard a flight from Iran. The lira stood at 6.1545 at 1050
Published 26 Feb, 2020 12:00am
Dollar pauses gains in Asia
Money & Banking

Dollar pauses gains in Asia

The dollar checked its march higher on Tuesday, as investors sharply raised bets that the growing fallout from the coronavirus outbreak would prompt US interest rate cuts. That helped to stay a steep slide in Asian currencies that has accompanied the viru
Published 26 Feb, 2020 12:00am
Dollar weakens largely in Europe
Money & Banking

Dollar weakens largely in Europe

The US dollar weakened on Tuesday as expectations grew that the Federal Reserve would cut interest rates this year to relieve pressure on the economy caused by China's coronavirus outbreak. The dollar rose last week to its highest in years as the virus sp
Published 26 Feb, 2020 12:00am
Virus-driven risk-off move lifts yen in New York
Money & Banking

Virus-driven risk-off move lifts yen in New York

The Japanese yen rose versus the US dollar on Monday in a risk-off move spurred by the rise in coronavirus cases. The safe-haven yen was last up 0.73% at 110.74 per dollar, having strengthened to 110.34 earlier in the day.
Published 26 Feb, 2020 12:00am
Asian forex: most currencies regain footing
Money & Banking

Asian forex: most currencies regain footing

Most emerging Asian currencies firmed on Tuesday, clawing back some of the prior session's heavy losses, as growing US rate-cut expectations took some steam out of the dollar's recent run. Financial markets have ratcheted up bets that the Federal Reserve
Published 26 Feb, 2020 12:00am