News stories for Ali Ahmed - Business Recorder

Ali Ahmed

Business & Finance

Illegal cigarettes worth Rs 20mn confiscated

On inquiry, it was also found that FED amounting to Rs.4.95 million and Sales Tax amounting to Rs. 1.678 million was not deposited in Government Exchequer against supplies of aforesaid cigarettes.

Published 05 Mar, 2021 11:43am

Business & Finance

Hafeez Sheikh's loss could lead to change of guard at Finance Ministry, say Experts

The report was of the view that Sheikh can continue to be the FM for an additional 3 months before the expiration of the six months grace period.

Updated 05 Mar, 2021 11:27am

Business & Finance

FBR launches one-window facility for Punjab businesses

The one-window facility will be used for registration of Sole Proprietor (Individual)/ Association of Persons (AOP) in the Government of Punjab’s Business Portal and FBR.

Published 05 Mar, 2021 10:33am

Business & Finance

PM Khan urges global bodies to provide 'fiscal space' to developing countries

“The COVID-19 pandemic is not over we must ensure the people are secure and ensure earliest possible access to vaccines being produced but on an affordable and equitable basis,” said PM Khan.
“The rich countries have injected $20 trillion to stimulate their economies. Our economy has been equally affected but we do not have the capacity to create such liquidity,” he said

Updated 04 Mar, 2021 05:30pm

Technology

WhatsApp latest feature to reach more users

The tweet added that the feature will be provided with a new release today, but WhatsApp will take some more time to reach all users.

Published 04 Mar, 2021 03:29pm

Business & Finance

China, Pakistan invites foreign investors to participate in CPEC

Nong Rong said in Rashakai SEZ, both Pakistan and China were mutually working to ensure security, visa facilitation, and other infrastructure facilities.

Published 04 Mar, 2021 02:37pm

Business & Finance

Pakistan, Norway discuss Trade & Investment

The Foreign Minister of Norway appreciated the role of Government of Pakistan in facilitating the signing of solar power project between Scatec and Nizam Energy.

Published 04 Mar, 2021 01:37pm

Business & Finance

KE aims to take Karachi to a power surplus position by 2022

Work on the 220 kV Dhabeji Grid and transmission lines has started and finalization of contractual arrangements for the off-take of additional 1,400 MW from National Grid (including 450 MW from existing interconnections) is in advanced stages.

Published 04 Mar, 2021 12:41pm

Business & Finance

PM Khan expresses concern over alarming decline in cotton production

The advisor informed that the Prime Minister has instructed to take necessary measures, including cross-border trade of cotton yarn, to keep the momentum of value-added exports.

Published 04 Mar, 2021 11:38am

Business & Finance

PSX benchmark Index bleeds after ‘shocking’ upset at Senate Elections

At 9:30 am, the index dropped by 1,073.15 points to 45,087.73 points amid political uncertainty.
The political tensions were further escalated after PTI announced that Prime Minister Imran Khan would seek a fresh vote of confidence from the National Assembly.

Updated 04 Mar, 2021 10:35am

Business & Finance

Govt release further funds for petroleum sector projects

As per the PSDP details, the government had earmarked an amount of Rs1,662.684 million for five ongoing projects, out of which Rs100 million were meant for expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE).

Published 03 Mar, 2021 03:22pm

World

No Hajj for pilgrims without COVID-19 vaccination announces Saudi Arabia

As per the Saudi health ministry officials, the COVID-19 vaccine requirement has been made mandatory for those wishing to perform the Hajj this year, and no one will be allowed to perform the Hajj without the vaccine.

Updated 03 Mar, 2021 02:14pm

Business & Finance

Pakistan’s exporters urge govt to allow import of cotton from India

Earlier, Dawood said people from the industry had been demanding to make changes in duties and taxes in textile sector.
However, he ruled out any changes in duties and import of cotton from India to bridge shortfall. He hoped that the country would have better cotton crop next year.

Published 03 Mar, 2021 12:24pm

Business & Finance

High cost of doing business limits Pakistan’s competitiveness: ADB

*The ADB Country Director added that the problem is compounded for private sector activities due to unreliable access to basic infrastructure, while access to finance remains limited for women entrepreneurs, small businesses, and other underserved segments.

Published 03 Mar, 2021 11:40am

Business & Finance

Pakistan, China collaborate to eradicate poverty

The collaboration established as a result, therefore, will enable Pakistan to benefit from evidence and lessons in poverty eradication from China’s experience on the one hand.

Published 03 Mar, 2021 10:56am

Markets

PSX, NIFT to Launch E-IPO System for Pakistan’s Capital Market

The digital portal will provide facility to investors (local, foreign, and institutional), TRE Certificate Holders, and even banks for submission of online subscription applications from anywhere in the world through the internet.

Published 02 Mar, 2021 04:28pm

Business & Finance

What lessons can the world learn from China's War on Poverty?

Dr. Alessandra Cappelletti an associate professor in the Department of International Studies at Xi’an Jiaotong-Liverpool University Liverpool University says there are some reasons why this project is so successful.

Published 02 Mar, 2021 02:21pm

Business & Finance

Freight train between Pakistan & Turkey to resume operations on March 4

The first train will travel from Turkey to Karachi in two weeks. The train will reach Karachi via Iran, Zahedan, Quetta, and Rohri.

Published 02 Mar, 2021 12:40pm

Business & Finance

Pakistan’s private airline to commence international operations this month

The private airline was previously scheduled to begin its flight operations in Saudi Arabia and the United Arab Emirates from January 2021, however, the plans took a backtrack due to worldwide travel restrictions in place due to COVID lockdowns.

Published 02 Mar, 2021 11:57am

Business & Finance

Pakistan's OMCs to see signficant rise in sales with uptick in economic activity: Report

The report was of the view that the pickup in HSD volumes is largely attributable to high economic activity compared to the same period last year, back in February 2020 industry volumes posted a decline of 26pc YoY, amid the restrictions and lockdowns due to the COVID-19 pandemic.

Published 02 Mar, 2021 11:32am

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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