JPMorgan Chase Urges Biden Team to Enact More Stimulus

New York, Dec 7 (AFP/APP): JPMorgan Chase is urging the incoming Biden administration to support additional aid to people left jobless by the Covid-19 pandemic as a way to address income inequality, a banking source said Monday. In a list of recommendations to the President-elect's team, the giant US bank said the coronavirus pandemic was "straining... families' economic mobility and restricting the US economy,".

Ikea Scraps Famed Catalogue After 70 Years

Stockholm, Dec 7 (AFP/APP): Swedish furniture giant Ikea said Monday it would stop printing its famed annual catalogue, ending a seven-decade tradition as customers moved to digital alternatives. The catalogues offered a snapshot on contemporary living that made them intensely popular, with circulation reaching a peak in 2016, when 200 million copies in 32 different languages were distributed worldwide.

Virgin Atlantic to commence flight operations to Pakistan

Virgin Atlantic Airways will commence flights between UK and Pakistan starting this Monday, December 7, 2020. According to details, the UK based airline will start flight operations for Pakistan from December 7, 2020. Virgin Atlantic has released the schedule of air operations for Pakistan. Flights are set to launch from London Heathrow to Lahore from December 7, Manchester to Islamabad on December 10, and London Heathrow to Islamabad on December 12.

Menzies Aviation acquires 51% of Royal Airport Services

Menzies Aviation, the global aviation services specialist, today announces the acquisition of a 51% shareholding in Royal Airport Services (RAS), a leading aviation services business based in Pakistan. RAS has been operating since 2007 and has a strong position in its local markets, providing a range of aviation services including ground and cargo handling, airline ticketing and cargo sales across Pakistan.

Auditor EY Facing Probe in Wirecard Scandal: Prosecutor

Berlin, Dec 4 (AFP/APP): An investigation has been launched in Germany against auditor Ernst & Young (EY), which was responsible for checking accounts at the disgraced electronic payments company Wirecard, the Munich prosecutor's office said Friday. The preliminary investigation follows notification by the German auditing watchdog APAS regarding EY, which had checked Wirecard's accounts, a spokeswoman for the office told AFP.

Stock Markets Fuelled by Vaccine & Stimulus Optimism

London, Dec 4 (AFP/APP): Investors pushed stock markets higher Friday on continued optimism over vaccines and signs of progress on a new US stimulus, though surging infections and deaths highlighted the painful reality of the coronavirus crisis. In foreign exchange, the pound held its own even as European doubts over a post-Brexit trade deal with Britain boiled over.

PIA, Askari Bank launched Co-Branded Credit Card

December 4, 2020 (Islamabad) Askari Bank and Pakistan International Airlines launched here on Friday, one of the most promising and innovative Askari-PIA co brand credit card in a modest ceremony due to COVID SOPs. The two market leaders in their respective industries have long been associated with Pakistan’s national identity and it was only natural that they join forces to create a unique value for their consumers.

US Stocks Retreat from Records after Lacklustre Jobs Data

New York, Dec 2 (AFP/APP): Wall Street stocks pulled back from records early Wednesday following lackluster US jobs data, despite the first approval of a Covid-19 vaccine by a western country. Britain cleared the Pfizer-BioNTech vaccine beginning next week, a major step in efforts to move the global economy beyond the coronavirus pandemic.

2020 could be the last year for the Galaxy Note series phones!

Lahore, 2nd December: Samsung’s Galaxy Note is one of the most popular smartphones that has made large screen devices popular around the world. The first Galaxy Note had a 5.3-inch screen that looks small today but was the largest at the time with the introduction of new technology in the form of a stylus or S-Pen.

PIA Introduces Winter Bonanza Sale on Domestic Routes

Islamabad (Dec 02, 2020): On the eve of winter holidays and school vacations, Pakistan International Airlines (PIA) has introduced special discounted fares for their passengers. According to the details, the national carrier has announced a special discount of upto 30 percent on domestic flights operating between Karachi, Lahore, Islamabad, Quetta, Faisalabad, Sialkot and Peshawar from December 03, 2020 onwards.

PIA Signs Cargo Charter with Oriental Sky Aviation Ltd

Islamabad (Dec 02, 2020): Pakistan International Airlines (PIA) and Oriental Sky Aviation Ltd signed a landmark cargo charter agreement here on Wednesday paving the way for direct and daily dedicated cargo flights between Pakistan and China. The instrument of agreement was signed between PIA’s General Manager Charters and Managing Director (MD) Oriental Sky Aviation Mr. Rush Wang at Pakistan International Airlines offices.

China to Expand Outbound Investment Schemes

BEIJING, Nov 30 (XINHUA/APP): China will expand the scale of two pilot schemes that allow domestic investors to access foreign assets, the country's foreign exchange regulator said Monday. The scale of the outbound investment schemes -- Qualified Domestic Limited Partner (QDLP) and Qualified Domestic Investment Enterprise (QDIE) -- in Shanghai, Beijing and Shenzhen will be expanded in the near future, according to the State Administration of Foreign Exchange.

Visitors Shop at Pakistani Pavilion at China-ASEAN Expo

BEIJING, Nov 30 (APP): A large number of visitors showed keen interest in products displayed at Pakistan pavilion set up in the exhibition area of the 17th China-ASEAN Expo (CAEXPO) being held in Nanning, Guangxi province China. Pakistan traders and businessmen exhibited jewellery, precious stones, marble, carpets, furniture, handicrafts, and sports goods at the stalls set up in the Pakistan Pavilion.

Chinese Envoy & Asim Bajwa Review Progress of CPEC Projects

ISLAMABAD, Nov 28 (APP): The Chinese ambassador to Pakistan Nong Rong said he had a review of projects under the China Pakistan Economic Cooperation with CPEC Authority Chairman Lt Gen (Retd) Asim Saleem Bajwa. "Had a comprehensive review of the CPEC cooperation and discussed the way forward with Asim Saleem Bajwa,” the Chinese ambassador said in a tweet.

‘Make-or-Break’ Time as Brexit Talks Head to London

Brussels, Nov 27 (AFP/APP): The EU's chief Brexit negotiator Michel Barnier will return to London on Friday to pursue face-to-face trade talks, in what he described as the last chance for a deal. The UK leaves Europe's trade and customs area in five weeks but talks on a follow-on agreement are still stalled over fishing rights and fair trade rules.

Post-Brexit Trade Deal with the EU ‘Still Possible’: UK

London, Nov 27 (AFP/APP): Britain's chief negotiator David Frost on Friday said a post-Brexit trade deal with the European Union could still be secured, despite a looming deadline and deadlock on key areas. "It is late, but a deal is still possible, and I will continue to talk until it's clear that it isn't," he tweeted.

ADB to Provide $300 million for Macroeconomic Stability in Pakistan

ISLAMABAD, Nov 27 (APP): The Asian Development Bank (ADB) has approved a $300 million policy-based loan to help promote macroeconomic stability in Pakistan by facilitating improved trade competitiveness and export diversification. “While COVID-19 hit Pakistan at a critical point in its macroeconomic recovery, the government’s ongoing efforts to ensure stability have started showing encouraging results this fiscal year,” said ADB Principal Public Management Specialist Hiranya Mukhopadhyay.

Spanish Banks Sabadell & BBVA Scrap Merger Plan

Madrid, Nov 27 (AFP/APP): Spain's second-largest bank BBVA and smaller rival Banco Sabadell scrapped plans Friday for a tie-up that would have created a top player as the industry struggles in the economic fallout from the coronavirus pandemic. The two banks announced on November 16 that they were in talks about a possible merger although they stressed there was no certainty that it would be implemented.

K-Electric holds 110th Annual General Meeting

Karachi, November 26, 2020: K-Electric held it’s 110th Annual General Meeting for FY 2020. With the on-going COVID-19 pandemic, the AGM was hosted virtually. The meeting was chaired by Shan Ashary, Chairman of the KE Board, with Moonis Alvi, CEO, KE also in attendance, along with Aamir Ghaziani, Chief Financial Officer, Rizwan Dalia, Company Secretary & Chief People Officer and other members of the Board and KE leadership.

More than $100 million deposited in Roshan Digital Accounts

ISLAMABAD: Senator Faisal Javed has said that more than $100 million USD has been deposited in Roshan Digital Accounts by 44,000 Pakistanis abroad so far. According to the details, Faisal Javed in his statement on social networking website Twitter said that $100 million USD has been deposited in Roshan Digital Accounts, Pakistanis abroad have opened 44,000 accounts.

PM to Address World Economic Forum

Islamabad, 25th November: PM Imran Khan will inaugurate the Country Strategy Dialogue (CSD) on Pakistan organised by the World Economic Forum. He will address the WEF today in recognition of the country’s positive economic trajectory and commendable resilience amidst a myriad of challenges. He will participate in an interactive dialogue with WEF President Børge Brende, and chairpersons and CEOs of leading corporations and partner companies.

Yellen’s Appointment ‘Good News for World Economy’: ECB Vice-President

Frankfurt am Main, Nov 25 (AFP/APP): The prospect of former Federal Reserve boss Janet Yellen becoming the next US Treasury Secretary is "good news for the US and the world economy", ECB vice president Luis de Guindos said Wednesday. Yellen, who would be the first woman in the job, would face the daunting task of steering the world's largest economy through the COVID19 crisis

Pakistan’s Improvement in Trade Facilitation List by 31 points Hailed

LAHORE, Nov 23 (APP): Pakistan’s improvement by 31 points in the list regarding trade facilitation agreement of World Trade Organization (WTO) is a very welcoming development for its overall economic uplift. A better position in the list than that of India and Bangladesh will definitely help boost Pakistan’s industrial sector as well. According to international trade facilitation report 2020, Pakistan is now positioned at 106 from the previous 136.

Pakistan Gets Relief from G20 Countries?

According to a Baaghi TV report, Pakistan has received a debt relief of approximately 800 million from the G20 group. According to government sources, in the last seven months, 14 countries have entered into agreements with Pakistan to provide loan repayment concessions. Under which, Pakistan has received a temporary relief of 800 million. Apart from these, 2 other countries have also approached Pakistan for relief in debt repayment.

G20 Urged to Fill $4.5 billion Gap in Global COVID19 Vaccine Fund

Riyadh, Nov 20 (AFP/APP): G20 nations must help plug a $4.5 billion gap in the global Covid-19 vaccine fund, a letter seen by AFP on Friday said. The letter, sent ahead of this weekend's virtual G20 summit, was signed by Norwegian Prime Minister Erna Solberg, South African President Cyril Ramaphosa, World Health Organization chief Tedros Adhanom Ghebreyesus and Ursula von der Leyen, president of the European Commission.

Asia & Europe Stocks Mixed as Virus Surge Darkens Mood

Hong Kong, Nov 20 (AFP/APP): Asian and European markets were mixed Friday as traders were caught between long-term optimism over a virus vaccine and the immediate horror of surging virus infections and deaths across the world. Trading floors were also battling a similar problem with Washington as the Treasury and Federal Reserve knocked heads over extending lending measures, just as lawmakers prepared to restart stimulus talks.

European Markets Cautious at Open

London, United Kingdom, Nov 20 (AFP/APP): European stock markets were cautious as trading opened on Friday after a day of modest gains in Asia. London's benchmark FTSE 100 index rose 0.3 percent to 6,350.16 points. In the eurozone, Frankfurt's DAX 30 index lost 0.1 percent to 13,071.01 points while the Paris CAC 40 gave up 0.2 percent to 5,463.99.