News Archives for Print - 2019-06-11

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 11 Jun, 2019 12:00am

Exchange

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 11 Jun, 2019 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 11 Jun, 2019 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 11 Jun, 2019 12:00am

Portugal defeat Netherlands to win first Nations League

Portugal added the inaugural Nations League title to their Euro 2016 triumph as Goncalo Guedes's strike on the hour won an underwhelming final 1-0 against the Netherlands in Porto on Sunday. The Dutch defensive pairing of Virgil van Dijk and Matthijs de L

Published 11 Jun, 2019 12:00am

Imam relishes World Cup battle with Starc

Pakistan opener Imam-ul-Haq is relishing facing Australia pace spearhead Mitchell Starc when the two teams meet in the World Cup in Taunton on Wednesday. The 23-year-old, a nephew of Pakistan great Inzamam-ul-Haq, said the confidence he had gained from fa

Published 11 Jun, 2019 12:00am

Sri Lanka batting coach backs Mendis and Mathews to come good

Sri Lanka batting coach Jon Lewis believes it is just a matter of time before Kusal Mendis and Angelo Mathews hit form at the World Cup. Experienced all-rounder Mathews has yet to open his account after ducks against both New Zealand and Afghanistan while

Published 11 Jun, 2019 12:00am

No need to fear Australia, says Hafeez

Veteran batsman Mohammad Hafeez has urged his side to take the confidence from their win over hosts England into their next World Cup match against champions Australia. The 38-year-old was Pakistan's saviour in their sensational 14-run win over England in

Published 11 Jun, 2019 12:00am

South Africa-West Indies World Cup match rained off

The World Cup match between South Africa and the West Indies was abandoned on Monday after persistent heavy rain in Southampton, with both sides earning a point each. Earlier, West Indies paceman Sheldon Cottrell reduced Faf du Plessis's team to 29 for tw

Published 11 Jun, 2019 12:00am

Ferrari appeal after Hamilton Canada GP win

Ferrari said Sunday they will appeal against the five-second penalty that cost Sebastian Vettel victory in the Canadian Grand Prix. Five-time Formula One world champion Lewis Hamilton maintained Mercedes' record winning start to the season when he was han

Published 11 Jun, 2019 12:00am

Yuvraj Singh ends cricket roller-coaster

Yuvraj Singh, a winner of two World Cup titles who overcame cancer and a drop in form to fight his way back into India's national side, announced Monday that he is retiring from cricket. "It was a great roller coaster ride and beautiful story but it has t

Published 11 Jun, 2019 12:00am

Iceland's reception of Turkey football team sparks controversy

Turkish officials Monday denounced the "disrespect" shown to the national football team when they arrived in Iceland for a Euro 2020 qualifier. The Turkish team was kept waiting for several hours at passport control at Reykjavik airport on Sunday and subj

Published 11 Jun, 2019 12:00am

Budget proposals: STOAP chalks out future action plan

The Sales Tax Officers Association of Pakistan (STOAP) Monday chalked out a future action plan in the light of budget proposals submitted to the Federal Board of Revenue (FBR) for fiscal year (2019-20). The FBR is finalizing the budget proposal from Inlan

Published 11 Jun, 2019 12:00am

Exchange

Economic Survey 2018-19: gas output sees negative growth of 1.98 percent

The production of natural gas has witnessed a negative growth of 1.98 percent in current fiscal year (2018-19) as compared with last fiscal year (2017-18), according to data released in Pakistan Economic Survey 2018-19 launched on Monday. The survey revea

Published 11 Jun, 2019 12:00am

NA budget session to continue till June 29

The National Assembly (NA) Monday decided to continue budget session of the assembly till June 29, 2019 which will be initiated from June 14. This decision was taken in the House Business Advisory Committee of the NA which met here under the chairmanship

Published 11 Jun, 2019 12:00am

Railways' gross earning grows by 10.3 percent

Pakistan Railways' gross earning revenue grew by 10.3 percent and amounted to Rs 34.0661 billion during the fiscal year 2018-19 (July-February period) against Rs 30.891 billion during the same period of the last year, revealed the Economic Survey 2018-19.

Published 11 Jun, 2019 12:00am

Economic Survey 2018-2019: public expenditure on education estimated lowest in region

Pakistan's public expenditure on education as percentage to GDP is estimated at 2.4 percent in the fiscal year 2018-19 which is the lowest in the region, revealed the Economic Survey (2018-2019) released here on Monday. According to UNDP's Human Developme

Published 11 Jun, 2019 12:00am

Economic Survey 2018-2019: public expenditure on education estimated lowest in region

Published 11 Jun, 2019 12:00am

Mutual Funds

Overview of the Economy

The macroeconomic stability is a fundamental pre-requisite for sustained economic growth. Pakistan''s economy has experienced frequent boom and bust cycles. Typically, each cycle comprised of 3-4 years of relatively higher growth followed by a macroeconom

Published 11 Jun, 2019 12:00am

Mutual Funds

Overview of the Economy

The macroeconomic stability is a fundamental pre-requisite for sustained economic growth. Pakistan's economy has experienced frequent boom and bust cycles. Typically, each cycle comprised of 3-4 years of relatively higher growth followed by a macroeconomi

Published 11 Jun, 2019 12:00am

Mutual Funds

Overview of the Economy

Published 11 Jun, 2019 12:00am

Exchange

China's iron ore falls on supply crunch

China's iron ore dipped on Thursday and marked its weakest weekly performance in nearly two months, as market expects the supply crunch of the steelmaking raw material to be eased amid increasing shipments from top miners.

Published 11 Jun, 2019 12:00am

CBOT wheat futures down

Chicago Board of Trade (CBOT) wheat futures squeaked their way to a fourth weekly gain on Friday - even after closing the day down 1.27% - as lack of rain in Russia raised concerns over reduced yields in the world's top exporter of the grain. Support for

Published 11 Jun, 2019 12:00am

CBOT soyabean futures post first weekly fall

Chicago Board of Trade (CBOT) soyabean futures fell on Friday - and posted the first weekly contract drop in a month - amid spillover pressure from the wheat and corn markets, and pressure from improved planting weather across parts of the US Midwest.

Published 11 Jun, 2019 12:00am

Vietnam's coffee prices fall; Indonesia's muted on Eid holidays

Domestic coffee prices in Vietnam fell sharply on Thursday from Wednesday, halting the strong recovery from a six-year low seen in early May. Farmers in the Central Highlands, Vietnam's largest coffee growing area, sold coffee at 33,000 dong ($1.41) per k

Published 11 Jun, 2019 12:00am

China's May copper imports fall

China's unwrought copper imports fell 10.9% from the previous month to 361,000 tonnes in May, according to official customs data, in a bearish sign for economic growth in the world's top consumer of the metal. Arrivals of unwrought copper, including anode

Published 11 Jun, 2019 12:00am

Canadian wheat sales to China hit 14-year high

Canada has shipped the most wheat to China in 14 years, contrasting a sudden halt in canola trade amid a diplomatic dispute between the countries, as Chinese buyers shunned the United States. China bought 1.5 million tonnes of wheat from Canada from Augus

Published 11 Jun, 2019 12:00am

Rice export prices in India, Thailand firmer

Rice export prices in India and Thailand strengthened this week as gains in local currencies prompted traders to raise prices of the staple, while Bangladesh will likely struggle to compete with top exporters despite a slide in domestic rates.

Published 11 Jun, 2019 12:00am

Cotton

Dullness witnessed on cotton market ahead of federal budget 2019-20

A kind of dullness was again witnessed on the cotton market on Monday ahead of announcement of federal budget 2019-20, dealers said. The official spot rate was inert at Rs 8800, they added. Seed cotton from Lower Sindh was available at Rs 4250-4300 per 40

Published 11 Jun, 2019 12:00am

Notice

The summary and daily trading report of PMEX were not received on Monday due to their technical problems.

Published 11 Jun, 2019 12:00am

Canadian canola futures slip

ICE Canadian canola futures slid on Friday for the fourth time in five sessions, following soya lower on improving US weather and a strong Canadian dollar Alberta soil moisture ratings deteriorated as crop planting wraps up. July canola lost $1.70 to $453

Published 11 Jun, 2019 12:00am

South Korea buys 65,000 tonnes of corn

South Korea's Feed Leaders Committee (FLC) purchased about 65,000 tonnes of corn expected to be sourced from South America in a private deal on Tuesday without issuing an international tender, European traders said on Friday.

Published 11 Jun, 2019 12:00am

Ukraine's sea port grain exports fall

Ukrainian grain exports from sea ports in the week ended June 1-7 dropped to 493,000 tonnes from 1.02 million tonnes a week earlier, the APK-Inform consultancy said on Monday. Corn exports dived to 326,000 tonnes from 725,000 tonnes, while wheat shipments

Published 11 Jun, 2019 12:00am

Brazil's May chicken exports to China rise

Brazilian chicken exports to China grew by 49% in May compared to the same period last year as the Asian nation imported more meat to deal with an outbreak of African swine fever (ASF) that has impacted domestic production. Brazil, the world's largest chi

Published 11 Jun, 2019 12:00am

CBOT corn posts first weekly slide

Chicago Board of Trade (CBOT) corn futures posted their first weekly slide in a month, as prices slipped on Friday after this week's news of poor export sales, traders said. CBOT July corn settled Friday down 4-3/4 cents at $4.15-3/4 a bushel. The contrac

Published 11 Jun, 2019 12:00am

China to reduce output at coal mines at risk of 'bumps'

China's National Energy Administration said on Monday it will curb output by 20% at coal mines at risk of "bumps", or sudden jolts inside a mine that often lead to serious damage and injuries. China has 400 million tonnes a year of coal mining capacity at

Published 11 Jun, 2019 12:00am

European wheat edges lower, posts weekly loss

European wheat edged lower on Friday to post a weekly loss of more than 3%, following a fall in Chicago and under pressure from a rise of the euro against the dollar hampering European exporters' competitiveness on world markets.

Published 11 Jun, 2019 12:00am

European gasoline margins little changed

Northwest European gasoline refining margins were little changed on Friday, remaining near their lowest since late March as high stocks and weak demand for exports weighed. Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) re

Published 11 Jun, 2019 12:00am

Rising grain prices hit Asian wheat importers

Flour millers in Asia have been caught on the wrong side of a rally in wheat prices as they waited for the market to decline, a stark contrast to animal feed producers who booked cargoes of corn several months before prices for that grain jumped.

Published 11 Jun, 2019 12:00am

India's gold prices flip to discount, premiums skid elsewhere

Gold prices in India flipped into discounts this week as a rally in local prices dampened demand, while premiums in other major Asian hubs declined as a price surge prompted investors to sell back bullion. Global benchmark spot gold was headed for its bes

Published 11 Jun, 2019 12:00am

Activities at Karachi and Qasim port

The Karachi Port handled 196,237 tonnes of cargo comprising 130,587 tonnes of import cargo and 65,650 tonnes of export cargo including 5,159 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargos of 13

Published 11 Jun, 2019 12:00am

Exchange

China's soyameal futures fall

China's soyameal futures fell more than 3 percent in early trade, posting their biggest daily loss since November 2019, after US soyabean prices dropped amid easing worries over bad weather. The most actively traded soyameal futures traded on Dalian Commo

Published 11 Jun, 2019 12:00am

Asia's naphtha extends losses on cracker shutdown

Asia's naphtha physical crack extended losses on Friday to reach its lowest in more than a decade as cracker outages depressed demand for naphtha, industry sources said. The benchmark open-specification naphtha margin had flipped into a discount on Thursd

Published 11 Jun, 2019 12:00am

Exchange

Goldman was top broker in Saudi market in May

Goldman Sachs was the Saudi market's top broker by trading volumes and value in May, stock exchange data showed, as foreign banks benefited from a surge of international money into the kingdom. Foreign investment interest in Saudi Arabia picked up ahead o

Published 11 Jun, 2019 12:00am

Exchange

All major Gulf markets perform strongly

All major Gulf markets performed strongly on Monday after last week's holidays as a global rally lifted regional sentiment, with Saudi and Qatar outperforming and boosted respectively by expected foreign fund inflows and a stock split.

Published 11 Jun, 2019 12:00am

HK stocks up

Hong Kong stocks tracked a global rally to end higher on Monday after the United States shelved plans to impose tariffs on Mexico and as global investors hoped for lower US interest rates on the back of lacklustre jobs data. The Hang Seng index ended up 2

Published 11 Jun, 2019 12:00am

Tokyo stocks jump

Tokyo stocks jumped Monday, tracking rallies on Wall Street after a weak US jobs report bolstered expectations that the Federal Reserve would soon cut interest rates. The benchmark Nikkei 225 index rose 1.20 percent, or 249.71 points, to close at 21,134.4

Published 11 Jun, 2019 12:00am

Monday's early afternoon trade: Wall Street rises on Mexico relief, M&A cheer

US stocks were higher on Monday after the United States dropped plans to impose tariffs on Mexican goods, with a couple of multi-billion dollar deals adding to the upbeat mood. Mexico on Friday agreed to step up efforts to stem the flow of illegal Central

Published 11 Jun, 2019 12:00am

Southeast Asian markets rise on Fed rate cut hopes, US-Mexico deal

Southeast Asian stock markets rose on Monday, on expectations of a rate cut by the US Federal Reserve, following weak US jobs data, and as a deal between Mexico and the United States soothed fears of another front to a trade war.

Published 11 Jun, 2019 12:00am

New Zealand shares edge lower

New Zealand shares inched down in subdued activity on Monday as disappointing monthly import figures from China offset optimism over a US decision to call off the threat of tariffs on Mexico. The closure of Australian financial markets for a holiday kept

Published 11 Jun, 2019 12:00am

Exchange

Shanghai shares snap 6-session losing streak

Shanghai stocks closed higher on Monday, snapping a six-session losing streak, as worries over trade tensions eased after an agreement between the United States and Mexico to avert a tariff war, and as weak data boosted stimulus hopes.

Published 11 Jun, 2019 12:00am

Exchange

FCA-Renault deal hopes, Mexico tariff relief lift European shares

European shares closed higher on Monday on some trade relief after the United States and Mexico struck a deal to avert tariffs on Mexican goods, while European automakers got a lift from signs Fiat-Chrysler and Renault may revive merger talks.

Published 11 Jun, 2019 12:00am

Sri Lankan stocks climb

Sri Lankan shares ended firmer for the second straight session on Monday in dull trade to hit a one-week closing high, while the rupee ended slightly stronger, market sources said. The benchmark stock index ended 0.47% firmer on Monday at 5,298.18, furthe

Published 11 Jun, 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 23	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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