News Archives for Print - 2019-03-30

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi

Published 30 Mar, 2019 12:00am

Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d

Published 30 Mar, 2019 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 30 Mar, 2019 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 30 Mar, 2019 12:00am

Aaj TV - Saturday's schedule

All timings are in PST (Pakistan Standard Time).

Published 30 Mar, 2019 12:00am

China will fend off cross-border capital flow risks: FX regulator

China will fend off cross-border capital flow risks and keep the yuan exchange rate basically stable in 2019, the country's foreign exchange regulator said on Friday. Cross-border capital flows will be adjusted via "market-based counter cyclical measures"

Published 30 Mar, 2019 12:00am

Landmarks to go dark for extinction awareness

Global landmarks from the Sydney Opera House to Dubai's Burj Khalifa are set to dim their lights on Saturday to raise awareness about energy use and our planet's vanishing biodiversity. The thirteenth edition of Earth Hour, organised by the green group WW

Published 30 Mar, 2019 12:00am

German jobless rate at 4.9 percent record low since reunification

Germany's unemployment rate fell again in March, striking a new historic low since reunification in 1990, figures showed Friday, as a job boom in Europe's biggest economy extended its run. Just 4.9 percent of people were out of work in Europe's largest ec

Published 30 Mar, 2019 12:00am

UK's payments gap widens as global slowdown, Brexit weigh

Britain's balance of payments shortfall grew in the last few months of 2018, exacerbated by disappointing trade numbers as the world economy slowed and Brexit neared. The difference between money flowing in and out of Britain was negative to the tune of 2

Published 30 Mar, 2019 12:00am

France blocks US trade talks, angering EU: diplomats

France is blocking the launch of trade talks with the US exasperating its EU partners who fear a restart to a trade war with President Donald Trump, diplomats said Friday. "The French are blocking, but they are isolated," a European source told AFP after

Published 30 Mar, 2019 12:00am

Volkswagen says it's responsible for 2 percent of global CO2 emissions

The Volkswagen group alone is responsible for around 2 percent of global carbon emissions - roughly the same amount as Germany - one of the car manufacturer's senior figures said in an interview Friday. "We have calculated how much the group represents am

Published 30 Mar, 2019 12:00am

Fiat Chrysler to cut 1,500 jobs at Canada plant

Fiat Chrysler Automobiles (FCA) has announced it will cut some 1,500 jobs at its factory in Windsor, Canada, around a quarter of its local workforce. The Italian-American automaker took the decision, effective from the end of September, to "better align p

Published 30 Mar, 2019 12:00am

Huawei vows to 'shake off' pressure as network business takes a hit

Chinese telecom giant Huawei vowed on Friday to "shake off outside distractions" as it announced that its telecom infrastructure business contracted slightly in 2018 amid a global US campaign to blacklist the company over espionage fears. Huawei said net

Published 30 Mar, 2019 12:00am

US consumer spending weak in January; inflation muted

US consumer spending barely rose in January and income increased modestly in February, suggesting the economy was fast losing momentum after growth slowed in the fourth quarter. The report from the Commerce Department on Friday also showed price pressures

Published 30 Mar, 2019 12:00am

UK businesses voice anger at Brexit deadlock

Britain's business community on Thursday lamented the deadlock that has crippled UK politics, and accused lawmakers of letting companies down on the eve of yet another crucial Brexit vote. The government is planning to put Prime Minister Theresa May's twi

Published 30 Mar, 2019 12:00am

Honda re-recalls 1 million cars in US with defective airbags

American Honda is once again recalling a million cars in the United States after it found that replacement parts to fix defective Takata airbags were also defective, the company said Tuesday. The company said it will replace the defective airbags in 1.1 m

Published 30 Mar, 2019 12:00am

US, Chinese trade negotiators face 'large amount of work'

Beijing said Thursday US and Chinese negotiators still face a "large amount of work" as they meet for fresh talks aimed at resolving a months-long trade war. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived for two d

Published 30 Mar, 2019 12:00am

US music industry streams double-digit revenue growth

The US music industry posted its third straight year of double-digit growth in 2018 thanks to continued surges in streaming, an industry tracker said Thursday. Revenues from recorded music jumped 12 percent to $9.8 billion in estimated retail value, accor

Published 30 Mar, 2019 12:00am

UAE regrets inclusion in EU tax blacklist

The United Arab Emirates has slammed a European Union decision to add it to a tax haven blacklist despite the Gulf state's efforts to meet EU requirements. The UAE was one of 10 more countries which the EU on Tuesday put on the list, created in 2017 as pa

Published 30 Mar, 2019 12:00am

Croatia rejects restructuring plan for ailing shipyard

Croatia's government on Thursday rejected a restructuring plan designed to save its biggest shipbuilding group from bankruptcy, putting the future of the once prosperous industry in limbo. The Uljanik shipbuilding group, which runs two docks and is 25 per

Published 30 Mar, 2019 12:00am

Brazil's central bank cuts 2019 economic growth forecast

Brazil's central bank cut its 2019 growth forecast for Latin America's biggest economy on Thursday, after mining giant Vale's lethal dam collapse pounded output and a drought in key agriculture areas hit harvests. The commodities-driven economy, which is

Published 30 Mar, 2019 12:00am

Daimler and China's Geely join forces to build next-gen Smart car

Mercedes-Benz maker Daimler and Chinese auto giant Geely announced plans Thursday to develop the next generation of electric Smart cars to be made in China in a joint venture. Under the agreement, expected to be finalised by the end of the year, the new v

Published 30 Mar, 2019 12:00am

Cotton

PMEX daily trading report

On Thursday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,754. The traded value of Metals, Energy and COTS/FX was recorded at PKR 11.038 billion and the number of lots traded 15,271. Major business was contributed by NSDQ100 am

Published 30 Mar, 2019 12:00am

Argentina raises 2018-19 corn crop forecast

Argentina's 2018-19 corn harvest is estimated at 46 million tonnes, the Buenos Aires Grains Exchange said in a report on Thursday, citing higher-than-expected yields as its reason for raising its forecast from a previous 45 million tonnes. Good weather on

Published 30 Mar, 2019 12:00am

CBOT corn futures flat

Chicago Board of Trade (CBOT) corn futures settled near unchanged on Thursday as traders squared positions ahead of US government stocks and plantings reports that are due for release on Friday, traders said. CBOT May corn settled up 1/4 cent at $3.74 per

Published 30 Mar, 2019 12:00am

Activities of Karachi Port

The Karachi Port handled 165,734 tonnes of cargo comprising 132,153 tonnes of import cargo and 33,581 tonnes of export cargo including 11,148 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargos of 1

Published 30 Mar, 2019 12:00am

CBOT soyabean futures firm on China's demand

Chicago Board of Trade (CBOT) soyabean futures firmed on Thursday in a mild rebound as traders squared positions ahead of US Department of Agriculture plantings and stocks reports and as China booked fresh import purchases, traders said. CBOT May soyabean

Published 30 Mar, 2019 12:00am

CBOT wheat futures sink on profit-taking

Chicago Board of Trade (CBOT) wheat futures retreated on Thursday as traders pocketed profits from a recent run to one-month peaks and squared positions ahead of upcoming US Department of Agriculture stocks and acreage reports, traders said. CBOT May soft

Published 30 Mar, 2019 12:00am

Asia's naphtha inter-month premium flat

Asia's naphtha inter-month premium was unchanged at $8 a tonne for the fifth straight session on Thursday. The inter-month premium refers to the price differential between front-month first-half May and first-half June.

Published 30 Mar, 2019 12:00am

China's iron ore futures slip to over two-week low

China's iron ore futures dipped to their lowest in more than two weeks on Thursday as investors remained cautious amid continued volatility in prices and rising inventory at Chinese ports, while construction steel rebar surrendered earlier gains. The May

Published 30 Mar, 2019 12:00am

Cotton

Cotton market: Hike in dollar's value, interest rate force mills to make new deals

Increase in dollar's value and interest rate propelled mills to continue buying on the cotton market on Friday amid tight supply of fine quality, dealers said. The official spot rate shed Rs 50 to Rs 8,600, they added. In the ready session, around 5000 ba

Published 30 Mar, 2019 12:00am

China buys more US soyabeans as trade talks kick off

Chinese state-owned firms bought about 1.5 million tonnes of US soyabeans on Thursday for shipment in July and August, in their second major purchase of US supplies this month, three traders with knowledge of the deals said. The purchases come as US and C

Published 30 Mar, 2019 12:00am

Australia business conditions slips in February

A closely-watched measure of Australian business conditions eased in February, dragged by falls in profitability and sales and pointing to cooling growth ahead, although the employment index was surprisingly resilient. The National Australia Bank's index

Published 30 Mar, 2019 12:00am

North Korea woos Vietnam tourists after Hanoi summit

North Korean tourism officials on Thursday urged Vietnamese travellers to seize a "golden" opportunity to visit the country following a summit between Kim Jong Un and US President Donald Trump in Hanoi last month. With an economy crippled by international

Published 30 Mar, 2019 12:00am

Currency

Turkey bank says propping up forex reserves as lira slides

Turkey's central bank Thursday sought to reassure investors over its foreign currency reserves after the sharpest drop in the local lira since a spat with the United States triggered a currency crisis last year. The lira slid nearly 6 percent Friday, prom

Published 30 Mar, 2019 12:00am

Sri Lanka seeks divine help to end power crisis

Sri Lanka's state energy provider sought divine intervention Thursday to break a crippling power shortage, dispatching envoys to the country's north to offer holy water to a tree sacred to Buddhists. The island nation has endured widespread energy shortag

Published 30 Mar, 2019 12:00am

UK identifies fresh Huawei risks to telecommunication networks

Britain has identified "significant" issues in Huawei's engineering processes that pose "new risks" for the nation's telecommunications, a government report found Thursday amid lingering global suspicion over the Chinese technology giant. "Further signifi

Published 30 Mar, 2019 12:00am

Embraer posts net loss for 2018

Brazilian airplane manufacturer Embraer, in the process of a partial takeover by US giant Boeing, announced a net loss of 669 million reais ($183 million) for 2018. Embraer said the loss was a result of a dip in demand for its executive jets.

Published 30 Mar, 2019 12:00am

Embraer posts net loss for 2018

Published 30 Mar, 2019 12:00am

Cellphone apps fight Africa's sexual taboos

When Charles Immanuel Akhimien was a medical student he was shocked to learn that a former classmate had died from a back-alley abortion. The brilliant young woman's life may have been spared if she had the kind of apps that are available today that discr

Published 30 Mar, 2019 12:00am

EU presses Athens to complete reforms

The EU on Wednesday pressed Greece to complete all the reforms it has promised to creditors in time for the next meeting of eurozone finance ministers on March 11. But the EU warned the Greek economy still faces "vulnerabilities" linked to high government

Published 30 Mar, 2019 12:00am

EU clears RWE takeover of EON electricity generation assets

The EU on Tuesday approved RWE's acquisition of fellow German energy company EON's renewable and nuclear generation assets as part of a major asset swap. The European Commission's competition authorities said the proposed transaction, which will see RWE a

Published 30 Mar, 2019 12:00am

Canada engineering giant in legal, political throes posts big losses

SNC-Lavalin, the engineering and construction giant at the center of a legal and political storm that has rocked Canada's Liberal government, posted a Can$1.6 billion ($1.2 billion US) quarterly loss Friday. The Montreal-based firm wrote down significant

Published 30 Mar, 2019 12:00am

Hungary to transfer MOL and Richter stakes to university

Hungary's government will bestow state stakes in two blue-chip companies worth a total of 380 billion forints ($1.34 billion), on the Corvinus economic university in Budapest, daily paper Magyar Hirlap reported on Tuesday. The stakes, 10 percent each in o

Published 30 Mar, 2019 12:00am

AccorHotels checks out record profits

French hotel group AccorHotels said Thursday it had earned a record profit last year, although that was entirely due to a boost from the sale of a stake in its property unit. The net profit of 2.2 billion euros ($2.5 billion) included 2.4 billion euros in

Published 30 Mar, 2019 12:00am

AccorHotels checks out record profits

Published 30 Mar, 2019 12:00am

BoJ may ease further, say small but growing number of economists

The Bank of Japan's next move will be to loosen its already super-easy monetary policy, a small but growing contingent of economists say, amid risks of a slowdown and skepticism inflation will hit the central bank's target. Most economists polled by Reute

Published 30 Mar, 2019 12:00am

Buyer of SAF-Cacao assets wins Ivory Coast export permit

Ivory Coast's cocoa marketing board has granted an export licence to the company that bought the assets of SAF-Cacao, a top exporter until it was liquidated in July, a document reviewed by Reuters shows. This represents a milestone for the world's biggest

Published 30 Mar, 2019 12:00am

De Beers says lab-grown diamond wholesale prices fall by up to 60 percent

Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.

Published 30 Mar, 2019 12:00am

German exports will grow by up to 3 percent this year: BGA

German exports will grow by up to 3 percent this year and hit a record high of nearly 1.4 trillion euros ($1.58 trillion), the BGA trade group said, suggesting firms are able to expand foreign business despite trade disputes and Brexit uncertainty. Import

Published 30 Mar, 2019 12:00am

Currency

Job boom to outweigh soft patch as Bank of Canada mulls rate moves

The Bank of Canada is unlikely to cut interest rates to support a flagging economy as long as job growth continues at a robust pace, an analysis of the central bank's response to past divergences in economic data suggests. The economy could also get a boo

Published 30 Mar, 2019 12:00am

German auto parts maker ZF buys US firm WABCO for $7 billion

German auto parts maker ZF Friedrichshafen said Thursday it had bought US-Belgian firm WABCO for around seven billion dollars to become the world's third biggest supplier of auto parts. The board of directors of WABCO, which specialises in truck brakes, "

Published 30 Mar, 2019 12:00am

Lufthansa warns airport capacity to squeeze growth

Lufthansa, Europe's largest airline group, said Thursday that capacity bumping up against limits at overcrowded airports would hem in growth this year as it reported that its bottom line fell in 2018. Net profits at the Frankfurt-based group amounted to 2

Published 30 Mar, 2019 12:00am

Monsanto ordered to pay $80 million in Roundup cancer trial

Monsanto has been ordered to pay some $80 million to an American retiree who blames his cancer on the agribusiness giant's weedkiller Roundup, in a case that could influence the outcome of thousands more like it.

Published 30 Mar, 2019 12:00am

China stocks post 3rd monthly gain on market opening, trade talk hopes

China stock closed higher on Friday to clock the third straight month of gains, as investors cheered Beijing's pledge to further liberalise financial markets, and on renewed hopes of progress in US-China trade talks. The blue-chip CSI300 index ended up 3.

Published 30 Mar, 2019 12:00am

Nikkei up; Daiichi Sankyo jumps

Japan's Nikkei rose on Friday on optimism about the latest round of US-China trade talks, with cyclical sectors such as shipping and machinery advancing on the last day of the Japanese fiscal year. Daiichi Sankyo Co grabbed the spotlight with a 16 percent

Published 30 Mar, 2019 12:00am

Friday's early afternoon trade: Main indexes up; Lyft surges after debuting on Nasdaq

Wall Street's main indexes rose on Friday, putting them on track to end the final trading day of the first quarter on a strong note, boosted by optimism over trade talks between the United States and China. The two sides said they made progress on trade t

Published 30 Mar, 2019 12:00am

Wall Street ends up as yields, trade optimism rise

US stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of US-China trade talks. But the day's advance was limited by concerns about economic data. The domestic economy slowed more than ini

Published 30 Mar, 2019 12:00am

Hong Kong stocks up

Hong Kong stocks closed higher on Friday to log their third monthly gain, tracking gains in mainland as investors cheered Beijing's pledge to further liberalise financial markets, and on renewed hopes of progress in the US-China trade talks. The Hang Seng

Published 30 Mar, 2019 12:00am

Treasury yields rise off 15-month lows

Benchmark 10-year Treasury yields rose off 15-month lows on Thursday as US stocks appeared more stable and as investors continued to adjust to a dovish pivot from global central banks. Treasuries have rallied strongly since the Federal Reserve last week d

Published 30 Mar, 2019 12:00am

Treasury yields rise off 15-month lows

Published 30 Mar, 2019 12:00am

Australian, New Zealand shares up

Australian shares closed marginally higher on Friday, led by the mining and healthcare sectors, while the benchmark posted its best quarterly gain since September 2009, bolstered by prospects of a breakthrough in US-China trade talks. The S&P/ASX 200 inde

Published 30 Mar, 2019 12:00am

Indian shares little changed

Indian share traded little changed on Friday in the absence of market-moving news, but were headed for their best month since March 2016 amid strong foreign fund inflows on expectation the current coalition government would return to power. Foreign invest

Published 30 Mar, 2019 12:00am

European stocks rise, clocking best quarter in four years

European shares rose on Friday but settled slightly below session highs after lawmakers rejected UK Prime Minister Theresa May's deal to exit the European Union for the third time, increasing the possibility of a 'no deal' or prolonged Brexit. The pan-Eur

Published 30 Mar, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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