Stocks fall after Apple warns on coronavirus impactBy: Agencies on February 18, 2020Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. The warning from the most valuable company in the United States sobered investor optimism that economic stimulus […]
Bezos launches $10 bn fund to combat climate changeBy: Agencies on February 18, 2020His company is often criticized for its environmental record, but Jeff Bezos, CEO of Amazon and the world’s richest man, said Monday that he was committing $10 billion to a new fund to tackle climate change. In a post to his 1.4 million followers on Instagram, the e-commerce tycoon said the Bezos Earth Fund would […]
Apple to miss revenue forecast as iPhone supply hit by coronavirusBy: Agencies on February 18, 2020Apple is to miss its revenue forecast for the March quarter due to the coronavirus epidemic, the US tech giant said Monday, warning that iPhone supplies worldwide would also be impacted, underlining the economic cost of the health crisis. The COVID-19 virus death toll now exceeds 1,800 in China, where it has infected more than […]
Apple to miss revenue forecast as iPhone supply hit by coronavirusBy: Agencies on February 18, 2020NEW YORK: Apple announced Monday it would miss its March quarter revenue forecast and global iPhone supplies would fall because of the deadly coronavirus epidemic, triggering a fall in Asian stock markets. The COVID-19 death toll now exceeds 1,800 in China, where it has infected more than 72,000 after emerging in the central province of Hubei […]
Remittances in Pakistan is a Positive Sign for economy: MoodyBy: Web Desk on February 18, 2020Moody a financial watchdog, in its latest report on Pakistan has stated that the increase in remittances in Pakistan is a positive sign for country’s economy. His report maintained that the high levels of remittances have contributed in strengthening the country’s economy especially in the domain of foreign currency deposits. Such growth benefits Pakistani banks […]
SECP organizes awareness sessions on Regulatory Sandbox on February 18, 2020The Securities and Exchange Commission of Pakistan (SECP) has organized introductory sessions on recently launched regulatory sandbox initiative. In the sessions held in Karachi and Lahore, participants were briefed upon process of registration in Sandbox and its benefits for startups and financial institution. SECP has opened its first cohort under Pakistan’s first ever Regulatory Sandbox […]
UK shoppers face pain without comprehensive post-Brexit trade deal – BRCBy: Agencies on February 18, 2020British consumers face higher prices and reduced availability of goods if the government fails to agree pragmatic solutions with the European Union on regulatory checks at ports in any post-Brexit deal, the retail industry’s lobby group warned on Monday. Next month will see the formal launch of negotiations on a new relationship after Britain left […]
Byco posts Half Year Profit of Rs. 213 million on February 18, 2020Byco Petroleum Pakistan Ltd. (BPPL), announced its financial results for the half year ending 31 December 2019. In this period, the company’s gross sales were recorded at Rs 125.6 billion from Rs 123.4 billion in the corresponding period of 2018. The company’s gross profits climbed to Rs 2.4 billion from Rs 1.45 billion a year […]
ENGRO AND SHELL SIGN AGREEMENT on February 18, 2020During a speech at the Pakistan Energy Reform conference in Islamabad today the CEO of Engro Elengy Terminal Ltd (EETL) Jahangir Piracha announced the signature of heads of agreement (HOA) with Excelerate and with Shell for the expansion of the Elengy Terminal in Port Qasim. The EETL terminal is a joint venture between Engro Corporation […]
Oil prices steady as coronavirus-related demand concerns weighBy: Agencies on February 18, 2020Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China was offset by expectations that output cuts from major producers will tighten crude supply. Brent crude was at $57.27 a barrel, down 5 cents by 0541 GMT after rising 5.2% last […]