BR100 3,737 Increased By ▲ 3 (0.09%)
BR30 19,102 Decreased By ▼ -52 (-0.27%)
KSE100 36,190 Increased By ▲ 48 (0.13%)
KSE30 15,694 Increased By ▲ 18 (0.11%)
COVID-19 TOTAL DAILY
CASES 243,599 2751
DEATHS 5,058 75
Sindh 100,900 Cases Today
Punjab 85,261 Cases Today
Balochistan 11,099 Cases Today
Islamabad 13,829 Cases Today
KP 29,406 Cases Today
Tesla rival Rivian adds $2.5bn investment led by T. Rowe Price
Industry

Tesla rival Rivian adds $2.5bn investment led by T. Rowe Price

  • The deal comes on the heels of electric car maker Tesla's meteoric rise in valuation and the recent public offering of Nikola Corp. Both Tesla and Nikola are planning electric pickups to rival Rivian.
  • The new round takes total investment in Rivian to at least $6 billion, including a $1.3 billion round in December led by T. Rowe Price.
Published Jul 10, 2020 07:09pm
Spying claims are latest twist in Germany's Wirecard thriller
Industry

Spying claims are latest twist in Germany's Wirecard thriller

  • Jan Marsalek, Wirecard's former chief operating officer, has vanished since the technology company was busted for what accountants described as an "elaborate and sophisticated fraud".
  • Wirecard's former chief executive and founder Markus Braun turned himself in to police, but Marsalek is at large.
Published Jul 10, 2020 06:23pm
Uber to pay Danish fine, avoid legal action
Industry

Uber to pay Danish fine, avoid legal action

  • The amount, equivalent to around 3.3 million euros or $3.7 million, should wrap up a saga that began in 2016.
  • California-based Uber has faced growing opposition from taxi owners and drivers across Europe and also in New York.
Published Jul 10, 2020 06:18pm
Italy's Armani returned to sales growth in 2019
Industry

Italy's Armani returned to sales growth in 2019

  • The luxury group said on Friday it was not yet possible to accurately estimate the impact of the COVID-19 pandemic.
  • Net sales grew 2.3% to 2.158 billion euros ($2.44 billion) last year, thanks primarily to the 7% increase in comparable sales in the directly managed store and e-commerce network.
Published Jul 10, 2020 05:47pm
Power outage continues in Karachi

Power outage continues in Karachi

  • According to experts, the poor transmission system of KE and the reduction in production is the main reason for the power outage.
Published Jul 10, 2020 11:08am
Industry

NTDC clarification

ISLAMABAD: In response to a news story "NTDC, CPPA-G charge-sheeted for causing billion of rupees loss to consumers"...

Published Jul 10, 2020 02:47am
Nokia launches data centre networking tools, developed with Apple
Industry

Nokia launches data centre networking tools, developed with Apple

  • Nokia, which competes against China's Huawei and Sweden's Ericsson to build 5G networks.
  • We worked very closely with (Apple) over the last two plus years to understand their requirements.
  • Apple will deploy Nokia's new system in its data centre in Viborg, Denmark.
Published Jul 09, 2020 08:56pm
VW's Skoda boss Maier to step down at end of July
Industry

VW's Skoda boss Maier to step down at end of July

  • Skoda, which did not give a reason for Maier's departure, said a successor would be elected by the board in August.
  • Maier took the helm as chairman in November 2015, coming from Porsche.
  • The change at Skoda comes amid a broader management reshuffle at the VW Group.
Published Jul 09, 2020 08:33pm
Rise in US coronavirus cases gives Delta pause over new flights
Industry

Rise in US coronavirus cases gives Delta pause over new flights

  • The continued growth of the virus through the Sun Belt, coupled with quarantine restrictions being implemented in large markets in the northern part of the country.
  • Delta added about 1,000 flights across its network for July after some modest signs of demand improvement in May and June.
Published Jul 09, 2020 08:26pm
TIM excludes Huawei from 5G core equipment tender in Italy, Brazil
Industry

TIM excludes Huawei from 5G core equipment tender in Italy, Brazil

  • The list of invited suppliers comprises Cisco, Ericsson, Nokia, Mavenir and Affirmed Networks, a company recently acquired by Microsoft.
  • Italy is considering whether to exclude Huawei from building its 5G network over concerns it could open the way for China to spy on key Western telecoms infrastructure.
Published Jul 09, 2020 08:06pm
Malaysia's AirAsia seeks nearly $500mn in funding: report
Industry

Malaysia's AirAsia seeks nearly $500mn in funding: report

  • The budget carrier, like other airlines, has been rocked by the COVID-19 pandemic that has hammered demand for air travel.
  • AirAsia said in a statement some financial institutions had indicated they would support a funding request of over 1 billion ringgit.
Published Jul 09, 2020 07:02pm
Alstom offers French factory sale to clinch Bombardier deal
Industry

Alstom offers French factory sale to clinch Bombardier deal

  • Alstom's bid in February of up to 6.2 billion euros ($7 billion) for Montreal-based Bombardier's rail business has faced scrutiny from EU antitrust authorities,
  • Alstom is offering more than it thinks is necessary in a bit to get the deal done, people familiar with the matter said.
Published Jul 09, 2020 06:55pm