News stories for Ali Ahmed - Business Recorder

Ali Ahmed

Business & Finance

Illicit Cigarette worth Rs 40mn Confiscated

The cigarettes valuing more than Rs. 40 million were confiscated after intercepting two vehicles at Burhan Interchange of Motorway.

Published 13 Mar, 2021 10:25am

Business & Finance

Major amendments made in Income Tax (Second Amendment) Act, 2021

A number of amendments have been made into the act, Section 64C and 65C have been omitted, and after Section 65E, Section 65F and Section 65G have been inserted.

Published 12 Mar, 2021 04:14pm

Business & Finance

Sazgar signs agreement with ‘renowned’ Chinese automaker

The company informed that the agreement is for the manufacture/assembly, sales, and after-sales service of passenger and commercial vehicles, which is subject to the approval of relevant government authorities.

Updated 12 Mar, 2021 02:04pm

Business & Finance

Market expert terms PSX latest nosedive as ‘synchronised’ & ‘coordinated’ sell-off

“I believe this is a synchronised sell-off and it was coordinated. The apex and frontline regulators should look into it,” said Najam Ali CEO Next Capital, while talking to a private channel.

Published 12 Mar, 2021 12:16pm

Business & Finance

SBP waives off cash margin requirement on industrial items

“Banks are further clarified that cash margin requirement will not be applicable on the imports made under HS Code 87021090 (Others) by Category-A and Category-B investors as defined in the Automotive Development Policy, 2016-2021,” said SBP.

Published 12 Mar, 2021 11:40am

Business & Finance

FBR issues Sales Tax General Orders for specified sectors

As per FBR, these laws mandate FBR to notify the date for the implementation of Electronic Monitoring of productions and sales of goods in the manner prescribed in the law on all manufacturing sites (unless otherwise provided) of all the notified sectors.

Published 12 Mar, 2021 10:26am

Business & Finance

Workers Remittances see 'exceptional' growth of over 24pc in February

On a cumulative basis, remittances rose to an unprecedented $18.7bn during Jul-Feb FY21, up 24.1pc compared to the same period last year.

Updated 12 Mar, 2021 10:07am

Business & Finance

Lucky Cement production facility in Iraq commences commercial operations

The company added that the said cement production facility is a joint venture with the Al-Shamookh group of Iraq.

Updated 11 Mar, 2021 05:33pm

Business & Finance

Ex-Commerce minister blast at govt decision to withdraw tax exemptions

Akhtar said unfortunately Pakistan is moving in an opposite direction. “I think this will have a negative impact on Pakistan’s economy,” he said.

Published 11 Mar, 2021 02:50pm

Business & Finance

PIA initiates VSS, payments made to over 100 employees

The scheme was aimed at reducing the manpower of the company. The scheme would save about Rs 2.5 billion annually.

Published 11 Mar, 2021 01:30pm

Business & Finance

Further steps being taken for power generation and supply, says Babar

The Policy is aimed at the utilization of coal reserves especially at Thar coalfield to generate alternative fuels from coal such as synthetic gas and diesel to reduce the heavy reliance on imported fuels.

Published 11 Mar, 2021 12:12pm

Business & Finance

NEPRA decides to revise electricity prices for K Electric

According to the notification, the tariff for electric consumers has been increased for six months and reduced for five months.

Published 11 Mar, 2021 11:08am

Business & Finance

FBR launches new automated system tax refund payments

As per FBR, this system would eliminate human interaction between tax authority and taxpayers as well as ensure quick relief to the business community.

Published 11 Mar, 2021 10:43am

Business & Finance

ECC approves Ramadan package for Utility Stores

In the meeting, it was decided that 19 essential items would be subsidized at the utility stores, under the Ramadan package.

Published 10 Mar, 2021 11:58pm

Business & Finance

PM reaffirms resolve to facilitate Uzbekistan's access to Pakistani ports

He expressed appreciation for the proposed Trans-Afghan railway project between Pakistan, Uzbekistan and Afghanistan.

Updated 10 Mar, 2021 03:45pm

Business & Finance

Govt express delight as reduction in Smuggling increase local Tyre Cos profits

The advisor was of the view that the incumbent government has successfully stopped the process of de-industrialisation and is now working towards industrial expansion.

Published 10 Mar, 2021 02:11pm

Business & Finance

Pakistan initiates anti-dumping investigation on cold rolled sheets imports

The investigation will determine whether CR Coils/Sheets originating in and/or exported from the Exporting Countries is dumped into Pakistan and whether such dumping has caused and /or is causing injury to the domestic industry within the meaning of provisions of the Act.

Published 10 Mar, 2021 01:05pm

Business & Finance

ECC to approve Ramadan Package today

Finance Minister Abdul Hafeez Sheikh while addressing the media said that the Economic Coordination Committee will approve the package.

Published 10 Mar, 2021 12:20pm

Business & Finance

$1.5bn Pakistan-Turkey defense deal comes to a standstill

The T-129 ATAK helicopter gunships were being produced by TAI under license from the Italian-British company AgustaWestland.

Published 10 Mar, 2021 10:33am

Business & Finance

NEPRA approves electricity hike of Rs 0.89 per unit

The latest increase has been made on account of variations in the fuel charges for the month of January 2021.

Published 09 Mar, 2021 04:36pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 31	279.03
USD PKR Interbank Buying / Jan 31	278.88
USD to Japanese Yen / Jan 31	154.72
USD to Swiss Franc / Jan 31	0.91
Pound Sterling to USD / Jan 31	1.24
Euro to USD / Jan 31	1.04

Stock	Volume
S&P 500 / Jan 30	6,071.17
Nasdaq / Jan 30	19,681.75
Hang Seng / Jan 30	20,225.11
Dow Jones / Jan 30	44,882.13
Germany DAX 30 / Jan 30	21,727.20
France CAC40 / Jan 30	7,941.64
India Sensex / Jan 31	77,500.57
Tokyo Nikkei / Jan 31	39,572.49

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 30	18,285
Petrol/Litre / Jan 31	256.13
Crude Oil USD/Barrel / Jan 31	72.68
Gold 10 Grams PKR / Jan 31	250,171
Gold Spot USD/Ounce / Jan 31	2,793
Diesel/Litre / Jan 31	260.95

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%)
Sana Ind / Jan 31 Sana Industries Limited(SNAI)	28.77 ▲ 2.62 (10.02%)
Tariq Corporation / Jan 31 Tariq Corporation Limited(TCORP)	16.91 ▲ 1.54 (10.02%)
I.C.C. Ind. / Jan 31 ICC Industries Limited(ICCI)	15.72 ▲ 1.43 (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%)
Pak Leather / Jan 31 Pak Leather Crafts Limited(PAKL)	32.63 ▲ 2.97 (10.01%)
Dandot Cement / Jan 31 Dandot Cement Company Limited(DNCC)	16.48 ▲ 1.5 (10.01%)

Stock	Price
Blue-Ex Ltd / Jan 31 Blue-Ex Limited (GEM)(GEMBLUEX)	54.86 ▼ -6.1 (-10.01%)
D.M. Textile / Jan 31 D.M. Textile Mills Limited(DMTX)	63 ▼ -7 (-10%)
First Imrooz Mod. / Jan 31 First Imrooz Modaraba(FIMM)	189 ▼ -21 (-10%)
Power Cem(Pref) / Jan 31 Power Cement (Pref)(POWERPS)	10.41 ▼ -1.15 (-9.95%)
National Silk / Jan 31 The National Silk & Rayon Mills Limited(NSRM)	40.84 ▼ -4.51 (-9.94%)
Sec. Inv. Bank / Jan 31 Security Investment Bank Limited(SIBL)	7.83 ▼ -0.76 (-8.85%)
Shahtaj Sugar / Jan 31 Shahtaj Sugar Mills Limited(SHJS)	109.56 ▼ -10.44 (-8.7%)
Kohinoor Mills / Jan 31 Kohinoor Mills Limited(KML)	31.05 ▼ -2.9 (-8.54%)
F.Credit & Inv / Jan 31 First Credit and Investment Bank Limited(FCIBL)	7.28 ▼ -0.66 (-8.31%)

Stock	Volume
Cnergyico PK / Jan 31 Cnergyico PK Limited(CNERGY)	66,672,997 ▲ 0.14
Sui South Gas / Jan 31 Sui Southern Gas Company Limited(SSGC)	48,364,956 ▼ -1.33
WorldCall Telecom / Jan 31 Worldcall Telecom Limited(WTL)	36,344,486 ▼ -0.06
Waves Home Appliances / Jan 31 Waves Home Appliances Limited(WAVESAPP)	33,226,540 ▼ -0.77
Bank Makramah / Jan 31 Bank Makramah Limited(BML)	31,509,642 ▲ 0.04
B.O.Punjab / Jan 31 The Bank of Punjab(BOP)	17,873,860 ▲ 0.2
K-Electric Ltd. / Jan 31 K-Electric Limited(KEL)	16,969,744 ▼ -0.07
Pak Refinery / Jan 31 Pakistan Refinery Limited(PRL)	16,492,313 ▼ -0.57
Treet Battery / Jan 31 Treet Battery Limited(TBL)	15,390,342 ▲ 1.07

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