Pakistan Today

LONDON: Oil hit its highest since in March on Tuesday, rising towards $47 a barrel, as a third promising coronavirus vaccine spurred demand recovery hopes and U.S. President-elect Joe Biden received the go-ahead to begin his transition. AstraZeneca said on Monday its COVID-19 shot was 70% effective in trials and could be up to 90% effective, giving the fight against...

WASHINGTON: Elon Musk’s year of dizzying ascents hit a new apex as the Tesla co-founder passed Bill Gates to become the world’s second richest person. The 49-year-old entrepreneur’s net worth soared $7.2 billion to $127.9 billion, driven by yet another surge in Tesla’s share price. Musk has added $100.3 billion to his net worth this year, the most of anyone...

KARACHI: Bulls paraded back to the Pakistan Stock Exchange (PSX) on Tuesday, as the indices remained in the positive territory despite negativity surrounding the second wave of coronavirus. Global equity markets also displayed a positive trend, whereas crude oil prices inched further up from the previous close; WTI crude price appreciating 1.21pc to $43.59 while Brent crude price rising 1.04pc...

The All Pakistan Textile Mills Association (APTMA) on Tuesday thanked the federal government for approving a progressive and innovative five year textile policy that will last unitl 2025. Taking to its Twitter handle, APTMA acknowledged Prime Minister (PM) Imran Khan and congratulated Finance Advisor Dr Abdul Hafeez Shaikh and Advisor for Commerce & Investment Abdul Razak Dawood on approval of...

ISLAMABAD: Federal Minister for Science and Technology, Chaudhry Fawad Hussain on Tuesday disclosed that his ministry would soon launch an animation and video games certification programme in a bid to enter the $90 billion gaming industry. “This programme will not only serve the purpose of gaming for the youth but prove as a game-changer for the young people”, the federal...

Prime Minister Imran Khan will be the chief guest at a World Economic Forum (WEF) event to commemorate Pakistan's "successful policies" against the novel coronavirus, PTI senator Faisal Javed Khan said on Tuesday. According to the senator, the forum is acknowledging the premier's successful policies to contain the virus and has announced it will celebrate "Pakistan Strategy Day" tomorrow . "This...

ISLAMABAD: Cutlery exports from the country witnessed an increase of 23.82 per cent during the first four months (July-Oct) of the current financial year (FY21) as compared to the corresponding period of last fiscal year. According to the details, Pakistan exported cutlery worth $39.060 million during July-Oct FY21 against the exports of $31.547 million during July-October FY20, according to data...

LONDON/HONG KONG: Stocks, oil and risk currencies including bitcoin gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by COVID-19 vaccines. European markets tracked gains in Asian and US equities, with the broad-based STOXX 600 index climbing 0.6% and Brent crude climbing to its highest level since March...

LAHORE: The onset of the winter season is likely to weigh in on cement sales in November as local dispatches are likely to fall by 23-27pc MoM, but up 2-6pc YoY.  The North region is expected to witness a contraction of 25-29pc MoM, while sales in the South are likely to fall by 11-15pc MoM. Topline Securities Limited Deputy Head of...

ISLAMABAD: Pakistan’s dependence on a single river system is extremely risky whereas the country must put in the effort to fight water shortages, promote reforestation, maintain water infrastructure, harvest more rainfall, and strengthen its water management. These views were expressed by Hanns Seidel Foundation (HSF) Resident Representative Dr Steffen Kudella during a day-long conference “Water Security Challenges and Conservation Strategy...

JEDDAH: Saudi Aramco said on Tuesday its domestic fuel supplies were not affected by an attack from Yemen’s Houthi group on a petroleum products distribution plant in the north of Jeddah city, with operations resuming three hours after the incident. Yemen’s Iran-aligned Houthi forces on Monday said they fired a missile at and struck the facility. Saudi authorities later confirmed...

BENGALURU: Toyota Motor Corp again halted operations at its car plant in southern India from Monday, as the majority of members of its workers’ union continued a sit-in strike, the automaker said. Both the Toyota Kirloskar Motor (TKM) factories in the industrial hub of Bidadi, Karnataka, had declared a “lock out” on Nov. 10 after the union went on strike,...

BRUSSELS: Eurozone economic activity plunged in November, a key survey showed on Monday, due to a resurgence of lockdowns across Europe as the second wave of the coronavirus tightened its grip. "The eurozone economy has plunged back into a severe decline in November amid renewed efforts to quash the rising tide of Covid-19 infections," said Chris Williamson, chief economist at...

ISLAMABAD: The Institutional Reforms Cell of the Cabinet Division has clarified that Adviser to Prime Minister on Institutional Reforms and Austerity Dr Ishrat Husain is not drawing salary from World Bank, rather he is drawing his pension, which is declared in his tax returns and asset declaration statement. According to a clarification statement issued on Monday, the PM’s aide “erroneously...

KARACHI: The Karachi administration on Monday announced that new Covid-19 restrictions for restaurants would be imposed from Tuesday (tomorrow) in order to control the spread of coronavirus. According to details, Karachi Administrator Iftikhar Shalwani has imposed a ban on indoor dining services in all restaurants from Tuesday due to the second Covid-19 wave. As per the order, only open-air restaurants would...