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Daily Archives: February 5, 2020

Huawei says it will set up ´manufacturing bases´ in Europe


February 5, 2020

BRUSSELS: Huawei´s top executive for Europe on Tuesday said the Chinese telecom giant would set up manufacturing hubs on the continent, as the company tries to fight off US pressure on EU nations to ban the company. “Huawei is more committed to Europe than ever before,” said the company´s Abraham Liu at a Chinese New Year reception in Brussels. “We …

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Electric future: Britain to ban new petrol and hybrid cars from 2035


February 5, 2020

LONDON: Britain will ban the sale of new petrol, diesel and hybrid cars from 2035, five years earlier than planned, in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine. Prime Minister Boris Johnson is seeking to use the announcement to elevate the United Kingdom’s environmental credentials …

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Stocks recover 475 points on value-hunting


February 5, 2020

KARACHI: Following the massive sell-off a day earlier, Pakistan equities staged a rebound on Tuesday with the KSE-100 index reclaiming 474.86 points (1.18 per cent) to close at 40,884.24. Banks, individuals and insurance companies accumulated blue chips available at attractive valuations while foreigners pushed more holdings worth $3.93 million. The market opened on a negative note and the index slipped …

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Auction of centre’s idle land assets approved


February 5, 2020

ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) approved the open auction budding of 27 unproductive land assets owned by the federal government on Tuesday. The reference price of the 27 land assets is estimated to be over Rs6.5 billion, according to Secretary Privat­isation Comm­ission Rizwan Malik. He further told Dawn that the bidding process would start in March and is expected to …

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Opec to mull output cuts over virus outbreak


February 5, 2020

VIENNA: Delegates from the Opec club of oil-producing countries — as well as their ally Russia — began a meeting at the organisation’s headquarters in Vienna on Tuesday to discuss their reaction to China’s coronavirus epidemic and its impact on global demand. Crude prices have tumbled since the deadly outbreak in the world’s second-biggest economy, which is a huge consumer …

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Oil sales dip 10pc


February 5, 2020

KARACHI: Country’s total oil sales in the first seven months of the current fiscal year (7MFY20) plunged by 10 per cent to 10.139 million tonnes, mirroring a slowdown of economic activities. Furnace oil sales in the last seven months shrank by 32pc to 1.395m tonnes followed by 10pc drop in high speed diesel (HSD) to 3.837m tonnes. Petrol sales in …

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Power, finance divisions blame each other for hike in electricity price for exportersPower, finance divisions blame each other for hike in electricity price for exporters


February 5, 2020

ISLAMABAD: Amid threats by exporters and the business community to close down their factories and businesses, the National Assembly’s Standing Committee on Finance and Revenue on Tuesday ordered suspension of increased power rates for export industries and its retrospective recovery from January 1, 2019. The meeting of the panel, presided over by Faizullah, noted that Power Division’s notification of Jan …

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PCB promises ‘top-quality’ broadcast coverage of first Test between Pakistan and Bangladesh


February 5, 2020

The Pakistan Cricket Board (PCB) promised on Wednesday to provide fans “top-quality” broadcast coverage of the upcoming Test match between Pakistan and Bangladesh, which will be played in Rawalpindi later this week. In a press release issued today, the board said that the match would be broadcast on Ten Sports through 23 high definition cameras, one of which would be ultra-high-speed while …

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BCB satisfied with arrangements for T20 series in Pakistan


February 5, 2020

KARACHI: After weeks of uncertainty Bangladesh consented to play Test and limited overs series in Pakistan in three phases. The first phase of the bilateral T20 series in Pakistan is well over and now Bangladesh will tour for one of the two Test matches in Rawalpindi from Friday. In the third and final phase of the agreed bilateral engagement the …

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Denly helps England recover in first ODI


February 5, 2020

CAPE TOWN: Joe Denly hit a career-best 87 to lead an England fightback in the first One-day International against South Africa at Newlands on Tuesday. England made 258 for eight after being sent in on a slow pitch. They were floundering at 131 for six before Denly and Chris Woakes (40) came together in a seventh-wicket stand of 91. Left-arm …

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