News Archives for Print - 2019-06-14

Activities at Karachi and Qasim Ports

The Karachi Port handled 106,567 tonnes of cargo comprising 79,779 tonnes of import cargo and 26,788 tonnes of export cargo including 9,623 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargos of 7

Published 14 Jun, 2019 12:00am

Cotton

Seed cotton prices fall slightly

Prices of seed cotton dropped slightly on the cotton market on Thursday in the process of thin trading activity, dealers said. The official spot rate was unchanged at Rs 8800, they added. Seed cotton per 40kg from Lower Sindh was available at Rs 4000-4200

Published 14 Jun, 2019 12:00am

CBOT wheat futures jump

Chicago Board of Trade (CBOT) wheat futures advanced on Wednesday on spillover support from gains in the corn and soybean markets, traders said. CBOT July soft red winter wheat jumped 8-1/4 cents, or 1.6%, to $5.26-1/4 a bushel. The contract set its highe

Published 14 Jun, 2019 12:00am

CBOT soyabean futures climb

Chicago Board of Trade (CBOT) soyabean futures rallied to their highest prices in more than a week on Wednesday as US rains threatened further days to plantings that are already behind schedule. The benchmark CBOT July soyabean futures contract settled up

Published 14 Jun, 2019 12:00am

US weekly jobless claims rise; imported inflation subdued

The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labour market was losing steam after job growth slowed sharply in May.

Published 14 Jun, 2019 12:00am

Tesco logs subdued quarterly sales

Britain's biggest retailer Tesco on Thursday posted subdued sales for the first quarter of its financial year, citing poor consumer sentiment in its Brexit-facing home market. Sales rose 0.4 percent to £14 billion ($18 billion, 16 billion euros) in the th

Published 14 Jun, 2019 12:00am

Tesco logs subdued quarterly sales

Britain's biggest retailer Tesco on Thursday posted subdued sales for the first quarter of its financial year, citing poor consumer sentiment in its Brexit-facing home market. Sales rose 0.4 percent to £14 billion ($18 billion, 16 billion euros) in the th

Published 14 Jun, 2019 12:00am

Australia approves vast Adani coal mine

Australia approved the construction of a controversial coal mine near the Great Barrier Reef on Thursday, paving the way for a dramatic increase in coal exports. Drawing a line under a decade of rancorous debate, Queensland's government said it had approv

Published 14 Jun, 2019 12:00am

Chinese vice premier urges more support for economy

Chinese regulators should step up support for the economy and keep ample liquidity in the financial system, Vice Premier Liu He said on Thursday, suggesting Beijing would soon unveil more policies to bolster growth amid rising US trade pressure.

Published 14 Jun, 2019 12:00am

Turkey eases credit card payment rules

Turkey's banking watchdog has eased payment regulations for credit cards, raising the maximum number of instalments and cutting repayment levels as it looks to support domestic consumption in a struggling economy. The BDDK watchdog cut the minimum of an o

Published 14 Jun, 2019 12:00am

Turkey eases credit card payment rules

Turkey's banking watchdog has eased payment regulations for credit cards, raising the maximum number of instalments and cutting repayment levels as it looks to support domestic consumption in a struggling economy. The BDDK watchdog cut the minimum of an o

Published 14 Jun, 2019 12:00am

Libor

Swiss ditch Libor as rate reference

Switzerland's central bank said Thursday it was dropping Libor as a reference in setting interest rates in another blow to the scandal-plagued benchmark.

Published 14 Jun, 2019 12:00am

Currency

EU ministers collide over timid eurozone reforms

EU finance ministers wrangled over watered-down economic reforms Thursday with France hoping the eurozone budget it has long been pushing for was finally within reach. Almost a decade after the debt crisis, French President Emmanuel Macron wants his partn

Published 14 Jun, 2019 12:00am

Brexit figurehead Johnson tops first-round vote for British PM

Brexit figurehead Boris Johnson came top by a landslide in a first-round vote on Thursday for a leader to replace British Prime Minister Theresa May as the deadline for leaving the EU looms.

Published 14 Jun, 2019 12:00am

UK minister signs US bid to extradite Assange

Britain's interior minister said Thursday he had certified the US request to extradite WikiLeaks founder Julian Assange on espionage grounds in a procedural move that opens the way for a court battle.

Published 14 Jun, 2019 12:00am

Trump faces storm after says OK to use foreign intel on opponents

Donald Trump on Thursday reignited the political storm that has threatened to engulf his presidency by insisting he has the right to use dirt provided by foreign governments on political opponents without informing the FBI.

Published 14 Jun, 2019 12:00am

Twitter releases new trove of banned state propaganda

Social media giant Twitter on Thursday released a new archive of state-backed propaganda from accounts it has banned based in Iran, Russia, Spain and Venezuela. The US platform said it had taken the material off its network, but would make it available to

Published 14 Jun, 2019 12:00am

Kerb

Facebook says CEO did not ignore personal data issues

Facebook CEO Mark Zuckerberg did not knowingly violate an agreement with the regulator supervising the company's management of users' personal data, the social media giant said Wednesday as it addressed an issue that has been under federal investigation f

Published 14 Jun, 2019 12:00am

Suicide bomber kills 11 in Afghanistan

A suicide bomber targeted a police checkpoint Thursday in the eastern Afghan city of Jalalabad, killing at least 11 people and wounding 13 others, an official said. The Afghan arm of the Islamic State group claimed responsibility for the attack, which was

Published 14 Jun, 2019 12:00am

China blasts EU's 'irresponsible' remarks on Hong Kong

China on Thursday hit out at the European Union for making "irresponsible and erroneous" remarks about Hong Kong's controversial extradition bill, which has sparked violent protests in the semi-autonomous city.

Published 14 Jun, 2019 12:00am

Cotton

Cotton up on rallying grains, rainy weather

Cotton prices rose for a second straight session on Thursday, following a rise in the grains market, while rain in the cotton-planting belt continued to support the natural fibre. The most active cotton contract on ICE Futures US, the third-month December

Published 14 Jun, 2019 12:00am

Exchange

Copper recovers on rising prospects of Fed rate cuts

Copper prices recovered on Thursday after weak US data reinforced prospects of rate cuts from the US central bank, but worries about demand in top consumers China and the United States capped gains. Benchmark copper on the London Metal Exchange ended up 0

Published 14 Jun, 2019 12:00am

Exchange

Oil prices rise over two percent after tanker attacks near Iran

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes. The attacks near Iran and the Strait of Hormuz reignited worries a

Published 14 Jun, 2019 12:00am

Exchange

Tokyo rubber falls

Tokyo Commodity Exchange (TOCOM) futures fell on Thursday, tracking weak Shanghai futures, even as oil prices surged after a suspected tanker attack near Iran. The benchmark TOCOM rubber contract for November delivery finished 0.3 yen ($0.0028) lower at 2

Published 14 Jun, 2019 12:00am

Exchange

Palm oil gains over two percent

Malaysian palm oil futures jumped more than 2% on Thursday, supported by overnight gains in US soyaoil on the Chicago Board of Trade (CBOT). The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed up 2.1% at 2

Published 14 Jun, 2019 12:00am

Exchange

Cocoa falls, sugar touches 1-1/2 months high

Cocoa futures on ICE fell on Thursday, a day after hitting 11-month highs technically close to overbought territory, while sugar rose to a more than 1-1/2 month high. September New York cocoa settled down $31, or 1.2%, at $2,510 per tonne. In the previous

Published 14 Jun, 2019 12:00am

Exchange

Gold climbs in New York

Gold prices gained momentum on Wednesday as the dollar dipped on speculation about the US central bank cutting interest rates this year amid global economic growth concerns. Spot gold was trading 0.5% higher at $1,332.77 per ounce as of 1:32 p.m. EDT (173

Published 14 Jun, 2019 12:00am

Exchange

Gold surges in Asia

Gold prices rose to a week high on Thursday, supported by expectations of an interest rate cut by the US Federal Reserve following soft inflation data, which also weighed on the dollar. Spot gold was up 0.3% at $1,336.82 per ounce at 0950 GMT. Prices touc

Published 14 Jun, 2019 12:00am

Exchange

Gold rises in Europe

Gold prices edged up to the week's high on Thursday, supported by expectations for an interest rate cut by the US Federal Reserve following soft inflation data, although an uptick in equities capped gains. Spot gold rose 0.2% to $1,335.78 per ounce as of

Published 14 Jun, 2019 12:00am

US MIDDAY: corn near three-year high

Chicago corn extended a rally to approach a three-year high early on Thursday as forecasts of more rain in the US Midwest threatened to exacerbate planting delays that have put a question mark over this year's harvest. Soyabeans rose for a fourth consecut

Published 14 Jun, 2019 12:00am

Exchange

US MIDDAY: gold gains

Gold prices climbed to a week's high on Thursday, supported by expectations for an interest rate cut by the US Federal Reserve following soft inflation data, although an uptick in equities capped gains. Spot gold rose 0.5% to $1,340.13 per ounce as of 1:3

Published 14 Jun, 2019 12:00am

Color & Chem expo to open on June 15

Pakistan's largest and exclusive exhibition of dyes, chemicals & allied industry, 5th Color & Chem Expo 2019 will be opened on June 15, 2019 at Lahore International Expo Centre. It will also have a concurrent event Digital Textile Printing Industry Expo.

Published 14 Jun, 2019 12:00am

Libor

Rs 52.73 billion budgeted from 3G licences for FY-20

The government has budgeted Rs 52.73 billion from 3G licences under the head of non-tax revenue for the next fiscal year 2019-20 against Rs 6.854 billion budgeted for the current fiscal year which was later revised to Rs 66.620 billion.

Published 14 Jun, 2019 12:00am

Libor

Rs 52.73 billion budgeted from 3G licences for FY-20

The government has budgeted Rs 52.73 billion from 3G licences under the head of non-tax revenue for the next fiscal year 2019-20 against Rs 6.854 billion budgeted for the current fiscal year which was later revised to Rs 66.620 billion.

Published 14 Jun, 2019 12:00am

Sindh demands audit of last year's water usage, losses

Sindh on Thursday formally demanded audit of last year's water usage and losses from a reputed private firm or public sector entity. This issue was raised by Syed Mazhar Ali Shah, Member Irsa Sindh at a meeting of sub-committee of National Assembly Standi

Published 14 Jun, 2019 12:00am

NA speaker for protecting interest of tobacco farmers

Speaker National Assembly Asad Qaiser stressed the need for protecting the interest of the tobacco farmers and ending their exploitation.

Published 14 Jun, 2019 12:00am

Third-tier structure abolished: Gap between documented, illicit brands of cigarettes widens

After abolition of the third-tier in budget (2019-20), the minimum price of legal brand of cigarette pack now stood at Rs 75-165 per pack and non-duty paid brand at Rs 20-30, increasing the gap between documented and illicit brands from June 12, 2019.

Published 14 Jun, 2019 12:00am

Exchange

Securities' fraud: SECP, US Department of Justice hold workshop

In collaboration with US Department of Justice, the SECP organized a workshop on securities and commodities fraud at the SECP head office on Thursday in Islamabad. Brian R. Harvey, the presenter, is a federal career prosecutor with the U.S. Department of

Published 14 Jun, 2019 12:00am

'Focus on building Pakistani brands that can compete internationally' an interview with Samir Dossal, President Canada Pakistan Business Council

BR Research recently had a chance to sit down with Samir Dossal who is the current President of the Canada Pakistan Business Council. An entrepreneur and engineer by profession, Samir is also President of Linkks Canada Inc. and has served as the President

Published 14 Jun, 2019 12:00am

'Focus on building Pakistani brands that can compete internationally' an interview with Samir Dossal, President Canada Pakistan Business Council

BR Research recently had a chance to sit down with Samir Dossal who is the current President of the Canada Pakistan Business Council. An entrepreneur and engineer by profession, Samir is also President of Linkks Canada Inc. and has served as the President

Published 14 Jun, 2019 12:00am

SEC director welcomes 'Beat Air Pollution' theme

SAARC Energy Centre (SEC) serves as an influential advocate for caring the environment by inspiring, informing and enabling masses to improve their quality of life. Every year the Centre commemorates World Environment Day on 05 June, the single largest ce

Published 14 Jun, 2019 12:00am

Exchange

US ambassador, Qureshi discuss regional security

United States Charge d'Affaires Ambassador Paul W Jones on Thursday called on Foreign Minister Shah Mehmood Qureshi and exchanged views on issues of mutual interest and regional security, Foreign Office said. During the meeting which held at the Foreign O

Published 14 Jun, 2019 12:00am

Renowned scholar Dr Reza delivers lecture at Habib University

Renowned Iranian-American scholar on religions, Dr Reza Aslan delivered a talk at Habib University (HU) on Thursday as part of the University's flagship Yohsin Lecture series. Dr Aslan joins a group of academics and thinkers, including Dr Vali Nasr, Dr Mu

Published 14 Jun, 2019 12:00am

CPEC to be made drug-free trans-regional trade route: Afridi

Minister for Ministry of Narcotics Control & SAFRON Shehryar Afridi has said that China-Pakistan Economic Corridor (CPEC) would be first trans-regional drug-free route and all necessary measures would be adopted to achieve this target.

Published 14 Jun, 2019 12:00am

Election Tribunal verdict: SC issues notice to Mohsin Dawar

The Supreme Court on Thursday issued notice to Pashtun Tahaffuz Movement (PTM) leader and MNA Mohsin Dawar in an election petition filed against him by Mufti Misbahuddin. A three-judge bench, headed by Justice Sheikh Azmat Saeed, heard appeal against Elec

Published 14 Jun, 2019 12:00am

Budget taxation: salaried class to bear maximum brunt, opine panelists

The federal government through its budget 2019-20 has badly squeezed the neck of salaried class, imposing heavy income tax (up to 35 percent) on 75 percent of the working class of the country.

Published 14 Jun, 2019 12:00am

Budget taxation: salaried class to bear maximum brunt, opine panelists

The federal government through its budget 2019-20 has badly squeezed the neck of salaried class, imposing heavy income tax (up to 35 percent) on 75 percent of the working class of the country.

Published 14 Jun, 2019 12:00am

Currency

Country passing through economic crisis: Hamza

Opposition leader in Punjab Assembly Hamza Shahbaz Sharif said that circumstances for investors are not favourable in Pakistan. While addressing the session, Hamza said investment has dropped by 52% and devaluation of our currency is the lowest in the reg

Published 14 Jun, 2019 12:00am

Imran's downfall imminent, opines Nawaz

Terming the arrests of Pakistan People's Party (PPP) Co-Chairperson Asif Ali Zardari and PML-N leader Hamza Shehbaz as unjustified, former Prime Minister Nawaz Sharif said on Thursday that Imran Khan's downfall is imminent.

Published 14 Jun, 2019 12:00am

'Value-added food items can ease economic challenges'

A pioneer in high-tech farming in Pakistan, Mossadaq Chughtai, says increasing exportable agricultural products and value-added food items can greatly help the country in meeting the economic challenges. Amplifying exportable surpluses in agriculture sect

Published 14 Jun, 2019 12:00am

Interrogation on loans: Khaqan says ready to appear before commission

Pakistan Muslim League-Nawaz (PML-N) leader and former prime minister Shahid Khaqan Abbasi on Thursday said they are ready to appear before the proposed commission for interrogation on loans as they are not afraid of inquiries.

Published 14 Jun, 2019 12:00am

Data Darbar blast: Buzdar presents Rs 10m cheque to heirs of each martyred cop

Punjab Chief Minister Sardar Usman Buzdar on Thursday presented cheques of Rs 10 million each to the families of martyred police officials in Data Darbar blast.

Published 14 Jun, 2019 12:00am

War against corruption: Business community supports PM: Iftikhar

Chairman United Business Group at the Federation of Pakistan Chambers of Commerce and Industry Iftikhar Ali Malik Thursday espousing Prime Minister's announcement to form a high-level commission to investigate rampant corruption over the last 10 years sai

Published 14 Jun, 2019 12:00am

Exchange

Five export sectors: LCCI urges govt to revive zero-rating regime

The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to restore zero-rating regime for five export sectors as it has caused unrest among the businessmen. LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir and Vi

Published 14 Jun, 2019 12:00am

Minister slams: Maryam's speech

Punjab Information and Culture Minister Syed Sumsam Ali Bukhari has said that it is heart-rending to listen to Maryam Nawaz's speech based on foul language and it is a great irony that the Nawaz League is now defending Pakistan People's Party (PPP).

Published 14 Jun, 2019 12:00am

IGP Punjab asks prison officials not to wear PEF's uniform

Expressing concerns over the misuse of official dress, Punjab Inspector General of Police (IGP) Arif Nawaz Khan has asked Punjab Inspector General for Prisons Mirza Shahid Saleem Baig to forbid his officials from wearing the uniform of Punjab Elite Force

Published 14 Jun, 2019 12:00am

GE, TBCCL open emergency medical centre in Jhimpir

GE Renewable Energy and Tricon Boston Consulting Corporation Limited (TBCCL) open the second emergency medical centre in Jhimpir on Thursday. This unprecedented initiative has been designed and implemented by Aga Khan Medical University Hospital, TBCCL an

Published 14 Jun, 2019 12:00am

Parliamentary panel for promoting regional languages

A parliamentary panel on Thursday stressed the need to promote the country's endangered languages to preserve its national heritage and culture.

Published 14 Jun, 2019 12:00am

KP proposes 14 new energy projects under ADP

The Khyber Pakthunkhwa Energy Department has proposed 14 new projects for Annual Development Programme (ADP) 2019-20 particularly the construction of new hydropower projects and setting up of the Provincial Transmission and Dispatch Company (PT&DC) and ot

Published 14 Jun, 2019 12:00am

SSGC rejects KE's claims

SSGC strongly denies a misleading statement that has been communicated by K-Electric to the media stating that the shortage of gas supply has impacted its power generation, leading to temporary load shedding in many areas of Karachi.

Published 14 Jun, 2019 12:00am

KE attributes power failure to high temperature, low gas pressure

Soaring temperatures during peak summer has led to a sharp increase in the demand for electricity. KE has made continuous investments in its generation, transmission and distribution infrastructure to be able to fulfill its commitment of providing maximum

Published 14 Jun, 2019 12:00am

CJCSC focuses on national security challenges

Chairman Joint Chiefs of Staff Committee (CJCSC), General Zubair Mahmood Hayat on Thursday said that regional peace was contingent upon maintenance of strategic stability in South Asia. He was addressing the participants of Naval Staff Course at Pakistan

Published 14 Jun, 2019 12:00am

VIS reaffirms ratings of Saudi Pak Industrial and Agricultural Investment Company

VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Saudi Pak Industrial and Agricultural Investment Company Limited (Saudi Pak) at 'AA+/A-1+' (Double A Plus/A-One Plus).

Published 14 Jun, 2019 12:00am

VIS reaffirms ratings of Saudi Pak Industrial and Agricultural Investment Company

VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Saudi Pak Industrial and Agricultural Investment Company Limited (Saudi Pak) at 'AA+/A-1+' (Double A Plus/A-One Plus).

Published 14 Jun, 2019 12:00am

Exchange

Tajik envoy for cementing bilateral trade ties

Ambassador of Tajikistan in Pakistan, Nasredin Ismatullo has called for removal of impediments to further cement bilateral trade and economic ties with Pakistan. While addressing at Sarhad Chamber of Commerce and Industry (SCCI) on Thursday, Nasredin said

Published 14 Jun, 2019 12:00am

Pakistanis living in Kyrgyzstan urged to highlight country's soft image

Foreign Minister Shah Mahmood Qureshi has urged the Pakistani community to play its due role to highlight soft image of the country. Addressing Pakistani students and community members in Bishkek on Thursday, he said about 2600 Pakistani students are stud

Published 14 Jun, 2019 12:00am

Petroleum Division to submit new policy draft by August

The Petroleum Division will submit a draft of new petroleum policy for upstream oil and gas companies to the Cabinet before bidding for the next blocks, sources told this correspondent. The Division is deliberating on a new petroleum policy with incentive

Published 14 Jun, 2019 12:00am

Two cops shot dead in Larkana

Unidentified armed men gunned down two policemen here on Thursday and fled the scene. Police said that the incident took place near Professors Colony Larkana where unknown gunmen sprayed bullets at two cops. Both policemen identified as Zulfiqar and Dad M

Published 14 Jun, 2019 12:00am

Heatwave to persist as sea breeze may cut off today

The heat-wave likely to continue across Sindh's coastal areas, including this metropolis in the next 48 hours due to the cyclone 'Vayu' passing close to Pakistan maritime radius, the Met Office said on Thursday. The sea breeze is likely to remain cut-off

Published 14 Jun, 2019 12:00am

Power failures amid searing heat make citizens' lives miserable

Instead of ensuring uninterrupted power supply to mitigate the intense heat-wave effects, K-Electric has begun undeclared and prolonged power load-shedding in different parts of the metropolis. "Rising temperature and reduction in gas pressure has affecte

Published 14 Jun, 2019 12:00am

'World Blood Donour Day' marked

Countries around the world celebrated World Blood Donour Day (WBDD) on Friday to raise awareness about the need for safe blood and to thank donors for their life-saving gifts. In Pakistan, national health organisations marked the day by holding campaigns

Published 14 Jun, 2019 12:00am

NFC award: PM urged to provide Karachi, Hyderabad's share directly to local governments

Mayor Karachi Waseem Akhtar on Thursday urged the Prime Minister Imran Khan to provide National Finance Commission (NFC) Award share of Karachi and Hyderabad directly to the local governments instead of the Sindh Government.

Published 14 Jun, 2019 12:00am

Mango festival opens in Mirpurkhas today

The annual three-day National Mango and Summer Fruit Festival is all set to open today (Friday) here in Mirpurkhas.The festival, to be organised at Shaheed Benazir Bhutto Mango Exhibition Hall, Mirpurkhas, is expected to display mangos from more than 400

Published 14 Jun, 2019 12:00am

'Italy to Pakistan' conference held

The Consulate of Italy in Karachi under the patronage of Embassy of Italy in Islamabad along with Italian Trade Agency and Italian Development Committee organized the first single country multi-sector conference titled 'Italy to Pakistan.'

Published 14 Jun, 2019 12:00am

SBP reserves down by $55 million to $7.807 billion

The total liquid foreign reserves held by State Bank of Pakistan (SBP) have decreased by $55 million to $7.807 billion during the week ending June 3, 2019 due to payments on accounts of external debt servicing. According to data issued by SBP on Thursday,

Published 14 Jun, 2019 12:00am

US Navy ship Mason's visit ends

Visit of US Navy Ship MASON to Pakistan concluded on Monday. Visit of USS MASON, an 'Arleigh Burke Class Destroyer' of US Navy to Karachi is a manifestation of good bilateral relations between both the navies. Upon arrival, USS MASON was received with tra

Published 14 Jun, 2019 12:00am

FPCCI urges government to implement FRDL Act 2005

President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr Daroo Khan Achakzai has urged the government to take all appropriate measures for strict implementation and compliance of Pakistan Fiscal Responsibility and Debt Limit

Published 14 Jun, 2019 12:00am

AMTF demands raise in health sector's budget

Executive Director of Afzaal Memorial Thalassaemia Foundation (AMTF) and CSR activist for eradication of thalassaemia from Pakistan, Ateequr Rehman has urged the government to increase allocation for health in the financial budget.

Published 14 Jun, 2019 12:00am

Finance Bill 2019-20: KCCI urges FBR to withdraw section 108AB

President of Karachi Chamber of Commerce and Industry (KCCI) Junaid Esmail Makda has urged Federal Board of Revenue (FBR) to withdraw the provisions under 108AB of the Finance Bill 2019-20 that has triggered severe anxiety amongst the business and industr

Published 14 Jun, 2019 12:00am

PPP forms body over BNP-M's offer of joining opposition

Pakistan Peoples' Party (PPP) Chairman Bilawal Bhutto Zardari on Thursday formed a four-member committee to talk with Balochistan National Party-Mengal over the BNP-M's offer to join the opposition.

Published 14 Jun, 2019 12:00am

ECP to hear plea seeking Maryam's disqualification on June 17

Election Commission of Pakistan (ECP) will hear an important petition moved by the lawmakers from the ruling party Pakistan Tehreek-e-Insaf (PTI) seeking disqualification of Maryam Nawaz from the position of Vice President Pakistan Muslim League Nawaz (PM

Published 14 Jun, 2019 12:00am

Subsidy claims: FMPAC shocked over non-allocation of funds

Fertilizer industry has expressed dismay at the federal government for not allocating any amount in budget 2019-20 to clear pending subsidy claims of over Rs 20 billion against supply of urea and DAP.

Published 14 Jun, 2019 12:00am

Zardari shifted to RIC for medical checkup

Former President Asif Ali Zardari who is currently in custody of National Accountability Bureau (NAB) was on Thursday taken to Rawalpindi Institute of Cardiology (RIC) for medical check up. Source said that NAB official shifted him to RIC after his condit

Published 14 Jun, 2019 12:00am

FBR advises people to declare undisclosed assets, expenditures before June 30

Federal Board of Revenue (FBR) reiterates that the closing date for assets declaration scheme is 30th June, 2019. Therefore, it is advised to the persons intending to avail this scheme to ensure that the following reliable data relating to undeclared and

Published 14 Jun, 2019 12:00am

Petition against PTM: Pemra chairman asked to appear before court

The Islamabad High Court (IHC) Thursday summoned Director General (DG) PEMRA to appear before the court in person in response to a petition filed against 'anti-state' and 'anti-army' rhetoric of Pashtun Tahaffuz Movement (PTM).

Published 14 Jun, 2019 12:00am

Heated debate on Finance Bill 2019 likely in Senate today

A fiery session of the upper house of the parliament is expected on Friday (today) as Senate is scheduled to start debate on Finance Bill 2019, a copy of which was already laid in the house on June 11. Amidst opposition's hue and cry, Chairman Senate Sadi

Published 14 Jun, 2019 12:00am

Heated debate on Finance Bill 2019 likely in Senate today

A fiery session of the upper house of the parliament is expected on Friday (today) as Senate is scheduled to start debate on Finance Bill 2019, a copy of which was already laid in the house on June 11. Amidst opposition's hue and cry, Chairman Senate Sadi

Published 14 Jun, 2019 12:00am

Cotton

Ban on wheat export likely in wake of less production

The government may impose ban on export of wheat following significant decrease in production of the commodity in the country during Rabi seasoon 2018-19 due to heavy rains "Ministry of National Food Security and Research (MNS&R) has reservation over whea

Published 14 Jun, 2019 12:00am

The plight of Kashmiris

The landslide victory has thrown up an 'opportunity' for the BJP government to do away with Article 370 of India's constitution that accords special status to occupied Jammu and Kashmir. In one of his 2019 election rallies, BJP chief Amit Shah had said th

Published 14 Jun, 2019 12:00am

Seeking shelter from trade war, fund managers bet on China's consumers

China may be an odd choice for investors seeking shelter from a Sino-U.S. trade war. Yet, money managers in Asia are pouring funds into Chinese stocks as the long-term promise of a growing middle class trumps more immediate fears about tariffs.

Published 14 Jun, 2019 12:00am

Increasing demand of electricity

Electricity is one of the major requirements of a nation for economic development as it brings investment opportunities for the country. In Pakistan the nation has been facing power shortage for a long time, and with years passing and rapid increase in ur

Published 14 Jun, 2019 12:00am

Of ritualistic budgets, meaningless debates

Pakistan Tehreek-i-Insaf (PTI) that was formed to provide socio-economic justice to all and work for social mobility of less-privileged, in its first budget for fiscal year 2019-20, proved to be an utter disappointment on this front. Much has been written

Published 14 Jun, 2019 12:00am

Too many cooks...

In an incredible move, the Punjab government has nominated as many as 40 people as its spokespersons, ostensibly for image building of the ruling party. The number is ridiculously high. According to a notification issued by provincial Information Minister

Updated 14 Jun, 2019 06:36am

Exchange

Post-budget press briefing

The post-budget press conference was led by Advisor to the Prime Minister on Finance Dr Hafeez Sheikh who, as has become the norm, was flanked by Hammad Azhar, Minister of State for Revenue, Umer Ayub, Minister of Energy, Khusro Bakhtiar, Minister for Pla

Updated 14 Jun, 2019 06:26am

AGP backs current water apportionment formula of Irsa

The Attorney General for Pakistan has supported the current water apportionment formula adopted by Indus Water River System Authority (Irsa) keeping in view available water. These recommendations were prepared by the Attorney General, after due consultati

Published 14 Jun, 2019 12:00am

AGP backs current water apportionment formula of Irsa

The Attorney General for Pakistan has supported the current water apportionment formula adopted by Indus Water River System Authority (Irsa) keeping in view available water. These recommendations were prepared by the Attorney General, after due consultati

Published 14 Jun, 2019 12:00am

AGP backs current water apportionment formula of Irsa

The Attorney General for Pakistan has supported the current water apportionment formula adopted by Indus Water River System Authority (Irsa) keeping in view available water. These recommendations were prepared by the Attorney General, after due consultati

Published 14 Jun, 2019 12:00am

Financing projection for five years: $9.82 billion inflows, $6.81 billion outflows expected under CPEC

The Ministry of Planning, Development and Reform gave financing projection of $ 9.82 billion inflows and $6.81 billion outflows during next five financial years, ie, 2019-23 under China Pakistan Economic Corridor (CPEC). According to documents and briefin

Published 14 Jun, 2019 12:00am

Financing projection for five years: $9.82 billion inflows, $6.81 billion outflows expected under CPEC

The Ministry of Planning, Development and Reform gave financing projection of $ 9.82 billion inflows and $6.81 billion outflows during next five financial years, ie, 2019-23 under China Pakistan Economic Corridor (CPEC). According to documents and briefin

Published 14 Jun, 2019 12:00am

Financing projection for five years: $9.82 billion inflows, $6.81 billion outflows expected under CPEC

The Ministry of Planning, Development and Reform gave financing projection of $ 9.82 billion inflows and $6.81 billion outflows during next five financial years, ie, 2019-23 under China Pakistan Economic Corridor (CPEC). According to documents and briefin

Published 14 Jun, 2019 12:00am

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

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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