News stories for Ali Ahmed - Business Recorder

Ali Ahmed

Markets

Remittances from UAE to Pakistan bound to increase significantly in Ramadan

A double-digit growth in remittances is expected during Ramadan, with the best performing corridors being India, Pakistan, Egypt, Bangladesh and Indonesia.

Published 15 Apr, 2021 12:00pm

Business & Finance

IMF's SDR could provide 'meaningful support' to Pakistan: Moody's

Measured against upcoming cross-border debt repayments, the additional SDR allocations could provide meaningful support for Zambia, Suriname, Tajikistan, Pakistan and Namibia.

Updated 28 Jun, 2021 02:42pm

Markets

PSX ends first trading day of Ramadan in green zone

KSE 100 Index ended the day adding up 262.65 points at 45,311.22

Published 14 Apr, 2021 03:17pm

Business & Finance

ECC withdraws customs duty on cotton yarn import

“Now the value-added manufacturers and exporters can import cotton yarns at 0% customs duty,” added Dawood.

Published 14 Apr, 2021 02:34pm

Business & Finance

Hammad stresses on to strengthen business ties with KSA

Hammad said that the Pakistani diaspora in Saudi Arabia is a great asset for the country, and the government has taken initiatives such as Roshan Digital Accounts to facilitate non-resident Pakistanis for making investment in Pakistan.

Published 14 Apr, 2021 01:07pm

Business & Finance

Pakistan’s powerful groups enjoy economic privileges of over $17bn: UNDP Report

The report highlights that the poorest and richest Pakistanis live in completely different countries, with literacy levels, health outcomes, and living standards that are poles apart.
Pakistan’s tax system does not contribute significantly to reducing inequality in the country due to low share of direct taxation, which is under 20 percent.

Updated 14 Apr, 2021 11:56am

Technology

Whatsapp introduces new features for Ramadan

These stickers have highlighted the importance of Iftar, Sehri times, and fasting, and its awareness.

Published 14 Apr, 2021 10:12am

Markets

USD to decline further against PKR; Expert anticipates record Remittances in Eid season

“Each month $300 to $400 million dollars are coming into interbank market through exchange companies which have led to the rise in foreign exchange reserves and strengthen the local currency,” he said.
Malik Bostan informed that Pakistan has become the fourth largest in terms of remittance inflows, with India at the top followed by China and the Philippines.

Published 13 Apr, 2021 02:11pm

Business & Finance

Pakistan’s leading machinery lubricant maker enters into plastic packaging business

The company informed that this business will be pursued through the existing plant site of HTL subsidiary Hi-Tech Blending (Pvt.) Ltd. (HTBL).

Published 13 Apr, 2021 12:32pm

Markets

PSX office/trading timing during Ramadan

During the month of Ramadan-ul-Mubarak 1442 A.H., the PSX will observe office hours from 9:30 a.m. to 3:30 p.m. from Monday to Thursday, while on Friday the office hours will be from 9:30 a.m. to 2:30 p.m.

Published 13 Apr, 2021 11:12am

Business & Finance

FBR assures full support to business community

The Chief Commissioner welcomed RCCI budget proposals, including extension in integration of POS systems, tax audits, updating profiles for Active Tax Payers List (ATL), recovery notices and payments on installments.

Published 13 Apr, 2021 10:37am

Business & Finance

Pakistan Refinery says exploring option to purchase used refinery units

“The company is exploring the option of pre-owned/used refinery units in addition to the option of new refinery units for cost-effective analysis,” PRL said in a statement, the refinery, however, said that no decision is made as yet for finalizing any of the aforesaid options.

Published 12 Apr, 2021 03:42pm

Business & Finance

PSW Act to facilitate trade in Pakistan, says PM Khan

The prime minister informed that PSW will bring an annual savings of $500 million and reduce will cargo clearance time from days to hours by integrating 75 regulatory departments including “customs, banks, port authorities, shipping companies and brokers etc.”

Published 12 Apr, 2021 02:28pm

Business & Finance

KSA wealth fund invites Pakistani businesses to explore investment opportunities

As per PIF statement, “the Public Investment Fund is seeking to become a leading global impactful investor in line with the objective of Vision 2030 and to drive the economic transformation of Saudi Arabia, through active long- term investments.”

Published 12 Apr, 2021 12:47pm

Business & Finance

PM to address ECOSOC Forum on Finance

As per details, the objective of the Forum is to mobilize adequate financial support to enable the developing countries to recover from the impact of the COVID-19 pandemic and achieve the Sustainable Development Goals (SDGs) and the climate objectives.

Published 12 Apr, 2021 12:19pm

Business & Finance

Pakistan entering third COVID-19 wave with strong economic indicators: Baqir

Baqir appreciated the role of Overseas Pakistanis for their role in maintaining the growth in remittances. “We have to thank Overseas Pakistan for the unparalleled growth we are seeing in our remittances,” he said.

Updated 12 Apr, 2021 11:47am

Business & Finance

Pakistan's Remittances hit above $2bn mark for 10 straight months

Cumulatively during July-Mar FY 21, remittances have risen to $21.5 billion, up by 26 percent over the same period of FY20.

Updated 12 Apr, 2021 12:07pm

Business & Finance

KSA enacts new law banning foreign employment

Under the new law, only Saudi nationals will be eligible to work in shopping malls, but only a few positions will be exempt from the law, details of which have not been released.

Published 10 Apr, 2021 03:11pm

Business & Finance

Hammad lauds Pakistan’s fiscal response against COVID-19

The minister added that as a result, Pakistan has witnessed one of the smallest increases in public debt in the world after COVID-19, while sharing data of the International Monetary Fund (IMF) World Economic Outlook.

Published 10 Apr, 2021 01:46pm

Technology

Facebook brings in new features for the month of Ramadan

There will be new avatar stickers available in the Facebook app, as well as new camera effects and stickers on Messenger and Messenger Kids.

Published 10 Apr, 2021 12:57pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 30	279.17
USD PKR Interbank Buying / Jan 30	278.97
USD to Japanese Yen / Jan 30	154.32
USD to Swiss Franc / Jan 30	0.91
Pound Sterling to USD / Jan 30	1.24
Euro to USD / Jan 30	1.04

Stock	Volume
S&P 500 / Jan 30	6,071.17
India Sensex / Jan 30	76,759.81
Tokyo Nikkei / Jan 30	39,513.97
Nasdaq / Jan 30	19,681.75
Hang Seng / Jan 30	20,225.11
FTSE 100 / Jan 30	8,646.88
Dow Jones / Jan 30	44,882.13
Germany DAX 30 / Jan 30	21,727.20

Item	Value
Crude Oil USD/Barrel / Jan 30	72.99
Karachi Cotton PKR/37.32 KG / Jan 30	18,285
Gold 10 Grams PKR / Jan 30	248,885
Gold Spot USD/Ounce / Jan 30	2,849.50
Cotton US¢/pound / Jan 30	66.27
Petrol/Litre / Jan 31	256.13

Gainers
Losers
Leaders

Stock	Price
Kohinoor Ind. / Jan 31 Kohinoor Industries Limited(KOIL)	10.21 ▲ 1 (10.86%)
IGI Life Ins / Jan 31 IGI Life Insurance Limited(IGIL)	15.13 ▲ 1.38 (10.04%)
Tariq Corporation / Jan 31 Tariq Corporation Limited(TCORP)	16.91 ▲ 1.54 (10.02%)
Saritow Spinning / Jan 31 Saritow Spinning Mills Limited(SSML)	17.92 ▲ 1.63 (10.01%)
Sanghar Sugar / Jan 31 Sanghar Sugar Mills Limited(SANSM)	37.14 ▲ 3.38 (10.01%)
Dandot Cement / Jan 31 Dandot Cement Company Limited(DNCC)	16.48 ▲ 1.5 (10.01%)
Redco Textile / Jan 31 Redco Textiles Limited(REDCO)	24.17 ▲ 2.2 (10.01%)
Leather Up Ltd. / Jan 31 Leather Up Limited(LEUL)	53.74 ▲ 4.89 (10.01%)
Fateh Sports / Jan 31 Fateh Sports Wear Limited(FSWL)	95.07 ▲ 8.64 (10%)

Stock	Price
Blue-Ex Ltd / Jan 31 Blue-Ex Limited (GEM)(GEMBLUEX)	54.86 ▼ -6.1 (-10.01%)
National Silk / Jan 31 The National Silk & Rayon Mills Limited(NSRM)	40.83 ▼ -4.52 (-9.97%)
Olympia Mills / Jan 31 Olympia Mills Limited(OML)	33 ▼ -3.56 (-9.74%)
Popular Islamic / Jan 31 Popular Islamic Modaraba(PIM)	11.35 ▼ -1.19 (-9.49%)
Sardar Chemical / Jan 31 Sardar Chemical Industries Limited(SARC)	33.11 ▼ -3.13 (-8.64%)
Ashfaq Textile / Jan 31 Ashfaq Textile Mills Limited(ASHT)	15.61 ▼ -1.43 (-8.39%)
F.Credit & Inv / Jan 31 First Credit and Investment Bank Limited(FCIBL)	7.28 ▼ -0.66 (-8.31%)
Fateh Ind. / Jan 31 Fateh Industries Limited(FIL)	136 ▼ -11.19 (-7.6%)
ZIL Limited / Jan 31 ZIL Limited(ZIL)	216.12 ▼ -17.36 (-7.44%)

Stock	Volume
Sui South Gas / Jan 31 Sui Southern Gas Company Limited(SSGC)	48,364,956 ▼ -0.94
Cnergyico PK / Jan 31 Cnergyico PK Limited(CNERGY)	45,150,993 ▲ 0.25
Waves Home Appliances / Jan 31 Waves Home Appliances Limited(WAVESAPP)	33,226,540 ▼ -0.49
Bank Makramah / Jan 31 Bank Makramah Limited(BML)	31,509,642 ▲ 0.11
WorldCall Telecom / Jan 31 Worldcall Telecom Limited(WTL)	20,556,244 ▼ -0.01
K-Electric Ltd. / Jan 31 K-Electric Limited(KEL)	16,969,744 ▼ -0.01
Citi Pharma Ltd / Jan 31 Citi Pharma Ltd.(CPHL)	15,022,230 ▲ 2.93
Hascol Petrol / Jan 31 Hascol Petroleum Limited(HASCOL)	13,297,950 ▼ -0.12
National Bank / Jan 31 National Bank of Pakistan(NBP)	12,863,023 ▲ 6.44

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