News Archives for Print - 2019-05-08

The month of Ramazan brings an opportunity to boost spiritual and physical harmony. During the whole month of Ramazan a psychological and physiological equilibrium is established restoring synchronisation to every faster's body, mind, and soul. According

Published 08 May, 2019 12:00am

Currency

EU cuts eurozone growth forecast as Italy debt soars

The European Commission cut its eurozone growth forecast for 2019 on Tuesday, with overspending by populist-run Italy again a concern. In its quarterly forecast, the EU executive blamed the downward trend on the slowdown in China and US protectionism that

Published 08 May, 2019 12:00am

Ethiopian clothes makers worst paid in the world

Ethiopia's clothes factory workers, producing items for top fashion brands including Guess, H&M and Calvin Klein, are the worst paid in the world, earning only $26 (23 euros) a month, a report said Tuesday.

Published 08 May, 2019 12:00am

Australian reserve bank holds rates, signals future cut

Australia central bank left interest rates on hold Thursday, brushing off calls for a cut to protect the country's 27-year recession-free run, with officials saying the economy was still in "reasonable" shape despite weak inflation and wage growth.

Published 08 May, 2019 12:00am

Currency

China's forex reserves drop for first time in six months

China's foreign exchange reserves unexpectedly fell for the first time in six months in April, despite recent data that suggested the world's second-largest economy is starting to steady in response to stimulus measures.

Published 08 May, 2019 12:00am

China's top trade negotiator to visit US despite tariffs

China said Tuesday its top trade negotiator will visit the United States for talks with American counterparts this week even as Washington stepped up pressure with plans to hike tariffs and complaints that Beijing was backtracking on its commitments.

Published 08 May, 2019 12:00am

Siemens plans to spin off oil and gas unit

German industrial conglomerate Siemens said Tuesday it plans to spin off its struggling gas and power unit to prepare it for a potential stock market listing next year.

Published 08 May, 2019 12:00am

Malaysia cuts interest rate for first time since 2016

Malaysia's central bank Tuesday cut its key interest rate for the first time in almost three years as it looks to boost slowing growth as China-US trade tensions weigh on the economy. The move comes as central banks around the world adopt a more dovish st

Published 08 May, 2019 12:00am

IMF chief says US-China tensions 'threat' to world economy

The head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy.

Published 08 May, 2019 12:00am

US returns $57 millions in 1MDB Hollywood money to Malaysia

Millions of dollars forfeited by the company behind the Leonardo DiCaprio film "Wolf of Wall Street" have been sent to a Malaysian account set up to recover money looted in a massive state fraud, officials said Tuesday.

Published 08 May, 2019 12:00am

New trade tensions as US slaps tariffs on Mexican tomatoes

The United States imposed tariffs on Mexican tomatoes Tuesday, adding to tensions between the two neighbors just as the debate deepens over their new but not yet ratified trade deal with Canada.

Published 08 May, 2019 12:00am

Oil, geopolitical tensions weigh on Saudi index

Saudi Arabia's stock market fell on Tuesday for the fourth straight day, weakened by a combination of lower oil prices and geopolitical tension in the Middle East, while Egypt's blue-chip index was buoyed by its largest lender. The Saudi index was down 0.

Published 08 May, 2019 12:00am

Nikkei closes down after 10-day break

Tokyo's key Nikkei index lost more than 1.5 percent on Tuesday following an unprecedented 10-day break, tracking global declines after US President Donald Trump threatened new tariffs on Chinese goods. The benchmark Nikkei 225 index fell 1.51 percent, or

Published 08 May, 2019 12:00am

Tuesday's early trade: indexes tumble on heightening US-China trade worries

Wall Street's main indexes tumbled more than 1 percent on Tuesday, as renewed worries over trade negotiations with China stoked global growth worries and kept investors away from risky assets. Beijing said on Tuesday that Chinese Vice Premier Liu He will

Published 08 May, 2019 12:00am

Wall Street falls as White House vows to raise China tariffs

US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump's comments as a bargaining tactic and expressed confidence in an eventual tr

Published 08 May, 2019 12:00am

Treasury yields down

US Treasury yields fell on Monday, as investors favored low-risk government bonds over stocks and other risky assets due to worries about a global slowdown stemming from renewed trade tension between China and the United States. Wall Street's major indexe

Published 08 May, 2019 12:00am

Treasury yields down

Published 08 May, 2019 12:00am

Indian shares plummet

Indian shares fell sharply on Tuesday to mark their worst close in nearly six weeks, dragged lower by index heavyweights such as Reliance Industries Ltd, amid lingering trade tensions between the United States and China. US President Donald Trump's latest

Published 08 May, 2019 12:00am

Currency

China stocks climb

Shares in China climbed on Tuesday after Beijing said it is sending its top official to the United States this week for trade talks, despite the White House threatening fresh tariffs. The markets managed to claw back some of the losses from Monday's sell-

Published 08 May, 2019 12:00am

European shares slide, volatility jumps

European shares slid on Tuesday as risk appetite took a hit from the European Commission trimming eurozone growth forecasts and pessimism among investors on the path ahead for US-China trade talks. The European Commission now expects euro zone growth of 1

Published 08 May, 2019 12:00am

Most Southeast Asian stocks rise

Most Southeast Asian stocks ended higher on Tuesday after fears about trade war escalation were calmed as Beijing said a Chinese delegation was preparing to travel to Washington for talks. Beijing confirmed that its top negotiator, Vice Premier Liu He, wo

Published 08 May, 2019 12:00am

US-China trade concerns weigh on FTSE 100

Britain's main stock index tumbled to a near six-week low on Tuesday as investors returned from a long weekend to a threat of more US tariffs on China that triggered a selloff led by oil majors and banks. The FTSE 100 slumped 1.6 percent, while midcaps we

Published 08 May, 2019 12:00am

Afghanistan eye World Cup semis with Naib at helm, says chief selector

Senior Afghanistan players have accepted the leadership change ahead of the World Cup as they target a semi-final spot in the 50-over showpiece event, chief selector Dawlat Khan Ahmadzai said Tuesday. Gulbadin Naib replaced Asghar Afghan as Afghanistan's

Published 08 May, 2019 12:00am

Djokovic destroys Fritz in solid Madrid start

Novak Djokovic needed just 65 minutes to make a winning start at the Madrid Open on Tuesday, hammering Taylor Fritz 6-4, 6-2 to reach the third round. The top seed and world number one broke three times as he schooled the American.

Published 08 May, 2019 12:00am

PCB felicitates Aleem Dar on completing 200-ODI milestone

The Pakistan Cricket Board (PCB) has congratulated Aleem Dar on reaching the 200-ODI milestone when he took the field in Dublin for the match between Bangladesh and the West Indies. Aleem, an ICC elite panelist and winner of the David Shepherd Trophy for

Published 08 May, 2019 12:00am

West Indies batsman Seymour Nurse dies

Former West Indies batsman Seymour Nurse has died at the age of 85 after a long illness. Barbados-born Nurse made his Test debut against England in 1960 and was a powerful middle-order batsman and top-class fielder.

Published 08 May, 2019 12:00am

Shah Dost de-notified as PCB's BoG member

Former Justice Fazal-e-Miran Chauhan, a member of the independent Panel of Adjudicators, has set aside elections of President, District Cricket Association, Turbat, and President, Regional Cricket Association, Quetta and ordered fresh elections.

Published 08 May, 2019 12:00am

Marathon season as Australia host Pakistan, New Zealand, Sri Lanka

Australia will play back-to-back pink-ball Tests against Pakistan and New Zealand in a marathon international cricket season spanning almost five months and wrapping up next March, the latest finish since the 1970s. Brisbane's Gabba hosts the first of two

Published 08 May, 2019 12:00am

Trump awards Presidential Medal of Freedom to Tiger Woods

Tiger Woods, fresh off his epic comeback victory in the Masters, was awarded the Presidential Medal of Freedom by President Donald Trump at the White House on Monday. Presenting the golfing great with the nation's highest honor, Trump praised Woods' "rele

Published 08 May, 2019 12:00am

International federations fret over Tokyo Olympics budget cuts

Eight international sports federations expressed their concerns Tuesday at new budget cuts made by the organising committee of the 2020 Tokyo Olympics.

Published 08 May, 2019 12:00am

SA bowler Nortje ruled out of World Cup

Fast bowler Anrich Nortje will miss the Cricket World Cup because of a broken right thumb, Cricket South Africa announced on Tuesday. Nortje will be replaced by fast bowling all-rounder Chris Morris, who has not played in a one-day international since Feb

Published 08 May, 2019 12:00am

Flintoff tells England to drop 'anyone' to get Archer in squad

Andrew Flintoff has urged England to drop "anyone" in order to make sure Jofra Archer has a place in their World Cup squad. The past week has seen Barbados-born paceman Archer show glimpses of his talent while making one-day international and Twenty20 deb

Published 08 May, 2019 12:00am

Currency

Aussie jumps, US dollar down in Asian trade

The Australian dollar sharply rose on Tuesday after the country's central bank held rates at a record low, dashing speculation it may ease policy following a below-par reading of inflation. The Aussie was last up about 0.7 percent at $0.7035 after the Res

Published 08 May, 2019 12:00am

Currency

Yuan struggles near 2-1/2 month low in Europe

The Chinese offshore yuan remained hobbled near 2-1/2 month lows on Tuesday after US President Donald Trump's threat of additional tariffs on Chinese goods rattled traders, although broader currency markets were largely stable. Foreign exchange traders ha

Published 08 May, 2019 12:00am

Currency

Early trade in New York: Dollar ticks up, yuan weakens

The US dollar rose and the Chinese offshore yuan stayed hobbled near 2-1/2 month lows on Tuesday after US President Donald Trump's threat of additional tariffs on Chinese goods rattled traders, though both moves were modest. Unlike on Monday, foreign exch

Published 08 May, 2019 12:00am

Currency

Dollar eases against major currencies in New York

The US dollar slipped to a five-week low against the yen and fell versus other currencies on Monday after US President Donald Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between Washington an

Published 08 May, 2019 12:00am

Currency

Most Asian currencies up; baht leads gains

Most emerging Asian currencies rose against the dollar on Tuesday, on hopes trade negotiations between the United States and China will resume this week and make progress in spite of President Donald Trump's threat to raise tariffs on more Chinese goods.

Published 08 May, 2019 12:00am

Currency

Turkish lira, markets fall after vote results scrapped

Turkish financial markets tumbled on Tuesday after the elections board ruled to scrap and re-run Istanbul elections, with the lira down 1.3 percent to its weakest level since last year's currency crisis was waning in October. The Turkish lira stood at 6.1

Published 08 May, 2019 12:00am

Currency

Sri Lankan rupee gains

The rupee closed firmer on Tuesday on dollar selling by banks, snapping an eight-session losing streak and off a near six-week low hit on Monday after lingering investor concerns following the Easter Sunday bombings. The rupee ended at 176.90/177.10 per d

Published 08 May, 2019 12:00am

Aussie rallies as RBA holds rates

The Australian dollar rallied on Tuesday after the country's central bank defied pressure for an immediate cut in interest rates, though it left the door wide open for an easing should the jobs market not stay strong. The Aussie dollar popped up almost ha

Published 08 May, 2019 12:00am

Currency

Sterling slides on Brexit nerves, pressure on PM

Sterling slid nearly half a percent on Monday on rising concerns about the progress of Brexit negotiations and worries Prime Minister Theresa May is facing a mounting challenge to her leadership. May is set to meet Graham Brady, chairman of an influential

Published 08 May, 2019 12:00am

Cotton

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,750. The traded value of Metals, Energy and COTS/FX was recorded at PKR 10.615 billion and the number of lots traded 13,698.

Published 08 May, 2019 12:00am

CBOT corn futures fall sharply

Chicago Board of Trade corn futures, which rallied last week as rain hampered planting in the US Midwest, fell sharply on Monday, as renewed trade tensions between Washington and Beijing cooled hopes of a deal that would boost US grain exports to China. U

Published 08 May, 2019 12:00am

European gasoline margins fall

Northwest European gasoline refining margins, weighed down by high stockpiles, fell on Friday from an eight-month high which had been fuelled by strong US demand and lower crude oil prices. Poland, Hungary and the Czech Republic are making available to th

Published 08 May, 2019 12:00am

Euronext wheat futures little changed

Euronext wheat futures ended little changed on Monday, recovering from contract lows fuelled by investor worries over a US threat to raise tariffs on Chinese goods. Late frosts across France and elsewhere in western Europe failed to support Euronext, with

Published 08 May, 2019 12:00am

CBOT wheat futures face technical selling

Chicago Board of Trade wheat futures faced technical selling and market pressures on Monday, struggling to shake off trader worries about overall US exports after US President Donald Trump said he would raise tariffs on Chinese goods this week. CBOT July

Published 08 May, 2019 12:00am

Rains boost Ivory Coast cocoa crop after dry spell

Rainfall increased over most of Ivory Coast's cocoa-growing regions last week, farmers said on Monday, raising hopes for a recovery in growth after the mid-crop suffered from atypically dry weather last month. The rainy season in the world's top cocoa pro

Published 08 May, 2019 12:00am

Activities of Karachi and Qasim Ports

The Karachi Port handled 118,202 tonnes of cargo comprising 82,727 tonnes of import cargo and 35,475 tonnes of export cargo including 4,345 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 82

Published 08 May, 2019 12:00am

Cotton

Cotton market: mills indulge in fresh buying on fears of further rise in rates

Mills indulged in fresh buying of cotton on Tuesday amid rising fears of more increase in rates, dealers said. The official spot rate held the week-end levels at Rs 8800, they added. In the ready session, about 4000 bales of cotton changed between Rs 7800

Published 08 May, 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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