News Archives for Print - 2019-07-05

Australian shares ended at their highest level in over 11 years on Thursday as expectations of local and US interest rate cuts drew investors to riskier assets. The S&P/ASX 200 index rose 0.5% or 32.50 points to 6,718.0 by the close of trade, its fourth s

Published 05 Jul, 2019 12:00am

Most Southeast Asian stocks mark tepid trade

Most Southeast Asian stock markets posted lacklustre performances on Thursday as weak economic data in the United States heightened concerns of a global economic slowdown, while Vietnam shares closed at a five-week high on real estate boost.

Published 05 Jul, 2019 12:00am

Indian shares move higher

Indian shares closed higher on Thursday, a day before the federal budget that is expected to cut taxes on business and raise spending to breathe some life into a stagnating economy. Earlier in the day, India's government forecast economic growth could get

Published 05 Jul, 2019 12:00am

Exchange

Egypt index down, MSCI upgrade keeps lifting Kuwait

Egypt's blue-chip index snapped four straight days of gains on Thursday as most of its stocks dropped, while Kuwait rose for the sixth consecutive session after MSCI decided to upgrade Kuwaiti equities to its main emerging markets index.

Published 05 Jul, 2019 12:00am

Tokyo stocks higher

Tokyo stocks closed higher on Thursday, taking a positive lead from record-setting gains on Wall Street, with investors waiting for the release of US unemployment figures. The benchmark Nikkei 225 index rose 0.30 percent, or 64.29 points, to 21,702.45, wh

Published 05 Jul, 2019 12:00am

China stocks lower

China stocks closed lower on Thursday weighed down by a slump in top consumer shares, even as investors awaited developments around Sino-US trade talks. The blue-chip CSI300 index fell 0.5% to 3,873.10, while the Shanghai Composite Index lost 0.3% to 3,00

Published 05 Jul, 2019 12:00am

Exchange

Miners pull FTSE lower

Britain's mining stocks tugged the main index lower on Thursday, while shares of IAG and Coca Cola HBC slid as they traded ex-dividend, though several investors stayed on the sidelines during the US market holiday. The FTSE 100 inched 0.1% lower but still

Published 05 Jul, 2019 12:00am

Emirates to resume Khartoum flights

The Middle East's largest carrier, Emirates Airline, said Thursday it has decided to resume flights to Sudan from July 8 after a one-month suspension in the face of deadly unrest. "After closely monitoring the situation in Sudan and conducting an exhausti

Published 05 Jul, 2019 12:00am

UK betting group William Hill plans 4,500 job cuts

British betting company William Hill on Thursday said it planned to shut 700 shops with a loss of 4,500 jobs, blaming the UK government's crackdown on problem-gambling. Explaining its decision, William Hill said that since the start of April, when the gov

Published 05 Jul, 2019 12:00am

Australia passes Aus$158 billion in income tax cuts

Australia's parliament agreed Aus$158 billion (US$111 billion) in income tax cuts late Thursday, delivering the conservative government its first post-election win. The new package is set to reduce income tax in three parts. More than 10 million Australia

Published 05 Jul, 2019 12:00am

World food prices ease in June, dairy prices plunge

World food prices eased slightly in June, ending a run of five months of consecutive gains, pushed down by a plunge in the price of dairy products, the United Nations food agency said on Thursday. The Food and Agriculture Organization (FAO) also kept its

Published 05 Jul, 2019 12:00am

DR Congo banks vow to tackle money laundering at US request

Lenders in the DR Congo will move to tackle money laundering at the request of the United States, which has expressed support for new president Felix Tshisekedi, the mineral-rich country's banking association said. The US Treasury and State Department had

Published 05 Jul, 2019 12:00am

Currency

France issues first 10-year bond at negative rate

France issued its first-ever 10-year bond at a negative borrowing rate on Thursday, meaning investors pay, rather than receive, interest for the privilege of owning French sovereign debt, said the state debt management agency, AFT. AFT said in a statement

Published 05 Jul, 2019 12:00am

Currency

France issues first 10-year bond at negative rate

Published 05 Jul, 2019 12:00am

Indian government predicts economic rebound

India on Thursday predicted that its economy will rebound and grow at 7.0 percent this year as it outlined plans on how to double its economy by 2025 to $5 trillion. The forecasts are part of an annual Economic Survey released before the full budget on Fr

Published 05 Jul, 2019 12:00am

Exchange

China says US tariffs must be lifted for a trade deal

US tariffs against China must be lifted for the two sides to reach a deal to end the trade war, the Chinese commerce ministry said Thursday. Trade teams from the world's top two economies "have maintained communication", ministry spokesman Gao Feng said,

Published 05 Jul, 2019 12:00am

Mutual Funds

Note on changes in the Finance Act, 2019

NOTE ON CHANGES IN THE FINANCE ACT, 2019

Published 05 Jul, 2019 12:00am

Mutual Funds

Note on changes in the Finance Act, 2019

NOTE ON CHANGES IN THE FINANCE ACT, 2019

Published 05 Jul, 2019 12:00am

Mutual Funds

Note on changes in the Finance Act, 2019

NOTE ON CHANGES IN THE FINANCE ACT, 2019

Published 05 Jul, 2019 12:00am

Dutch great Robben announces retirement

Dutch winger Arjen Robben announced on Thursday he is ending his playing career at the age of 35 after a 10-year spell with German giants Bayern Munich. "It is without a doubt the most difficult decision I have had to make in my career, my heart says yes,

Published 05 Jul, 2019 12:00am

Pakistan need miracle, admits Sarfaraz

Pakistan skipper Sarfaraz Ahmed admitted his team need a miracle to qualify for the World Cup semi-finals as they prepare for their final league game against Bangladesh at Lord's on Friday. Pakistan require an outlandishly big victory but if Bangladesh ba

Published 05 Jul, 2019 12:00am

Manchester City sign Rodri for club record fee

Premier League champions Manchester City on Thursday announced the signing of Spanish international midfielder Rodri on a five-year deal from Atletico Madrid for a club record fee. Rodri, 23, officially became a City player a day after the La Liga club re

Published 05 Jul, 2019 12:00am

Golden makes new record of reverse driving

World fame Sultan Mohammad Khan Golden of Pakistan, a Pakistani motorcar and motorcycle stuntman and jumping specialist had made a new world record of reverse driving his car over a speed of 112 kilometer per hours during his practice preparation for the

Published 05 Jul, 2019 12:00am

West Indies see off Afghanistan in World Cup

Chris Gayle failed with the bat but struck with his tame off-breaks as the West Indies secured just their second win of a chastening World Cup campaign against Afghanistan on Thursday. The Caribbean side scored 311 for six in their 50 overs in Leeds and a

Published 05 Jul, 2019 12:00am

Lampard returns to Chelsea as manager

Frank Lampard promised to keep Chelsea competitive at the top of the Premier League after his return to the club as manager on a three-year deal was confirmed on Thursday. Lampard won 13 trophies in 13 years and became Chelsea's all-time leading marksmen

Published 05 Jul, 2019 12:00am

Nadal beats Kyrgios

Rafael Nadal defeated Nick Kyrgios 6-3, 3-6, 7-6 (7/5), 7-6 (7/3) in a stormy and bad-tempered Wimbledon second round encounter on Centre Court on Thursday. It was Nadal's 50th win at the tournament as he continues his push for a third Wimbledon title and

Published 05 Jul, 2019 12:00am

Kerb

Federer cruises, champion Kerber knocked out

Eight-time champion Roger Federer eased into the third round of Wimbledon on Thursday, beating British wild card Jay Clarke 6-1, 7-6 (7/3), 6-2 to equal American legend Jimmy Connors's record of 17 appearances in the last 32. The 37-year-old Swiss great's

Published 05 Jul, 2019 12:00am

Tomic stripped of £45,000 Wimbledon prize money for tanking

Australia's Bernard Tomic was stripped of his entire £45,000 ($56,600) Wimbledon prize money on Thursday for tanking in his first round match which was over in just 58 minutes. The controversial Tomic, who has previously been accused of not trying in his

Published 05 Jul, 2019 12:00am

Exchange

Dollar finds few buyers in Asia

The dollar was on the back foot on Thursday, trading near a one-week low versus the yen as falling Treasury yields boosted expectations the US Federal Reserve will cut interest rates this month for the first time in a decade. Government bonds are in the m

Published 05 Jul, 2019 12:00am

Exchange

Euro, dollar down in European trade

The euro was stuck near two-week lows on Thursday and the dollar drifted away from recent highs as sliding government bond yields pressured both currencies. The global bond rally has accelerated this week on expectations of more monetary easing from centr

Published 05 Jul, 2019 12:00am

Currency

Dollar dips against yen in New York on Fed rate cut view

The dollar slipped to a one-week low against the Japanese yen on Wednesday, weighed down by declining US Treasury bond yields, fading optimism over the China-US trade deal, and the possibility of fresh tariff hostilities with Europe. Volume was light ahea

Published 05 Jul, 2019 12:00am

Sri Lankan rupee steadies

Sri Lankan rupee closed steady at 176.00/25 per dollar on Thursday as banks' dollar sales offset the importer greenback demand. The rupee rose 0.17% last week, and is up 3.75% so far this year. The rupee dropped 16% in 2018 and was one of the worst-perfor

Published 05 Jul, 2019 12:00am

Most Asia currencies advance

Most emerging Asian currencies gained ground against a broadly weaker dollar on Thursday, as a slew of weak US economic data boosted chances the Federal Reserve will cut rates this month. The US trade deficit jumped in May while the protracted trade war b

Published 05 Jul, 2019 12:00am

US markets closed

US stocks, financial and commodity markets were closed on Thursday due to Independence Day holiday. Markets will resume normal trading on Friday.

Published 05 Jul, 2019 12:00am

Currency

South Africa's rand surge

South Africa's rand rose against the dollar on Thursday to hit its strongest in nearly three months, tracking fellow emerging market currencies, as the dollar was dented by hopes of US interest rate cuts. Stocks were down after the U.S national holiday re

Published 05 Jul, 2019 12:00am

Aussie, kiwi rise

The Australian dollar firmed to two-month highs on Thursday as market wagered on ever more easing from central banks in the United States and Europe, driving Treasury yields to their lowest since late 2016. The Aussie popped up to $0.7034, having climbed

Published 05 Jul, 2019 12:00am

Sterling near two-week lows on weak data, falling yields

Sterling held near two-week lows on Thursday after weak economic data and a global drop in government bond yields raised expectations that the Bank of England's next policy move will be to cut interest rates. Investors have ramped up their expectations fo

Published 05 Jul, 2019 12:00am

Brazil markets rally, stocks hit new highs

Brazilian financial markets rallied strongly on Thursday, with stocks hitting a fresh all-time high, on growing investor optimism that Congress will soon approve a comprehensive and weighty pension reform bill. The benchmark Bovespa stock market rose as m

Published 05 Jul, 2019 12:00am

Exchange

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,989. The traded value of Metals, Energy and COTS/FX was recorded at PKR 10.325 billion and the number of lots traded 12,486.

Published 05 Jul, 2019 12:00am

Ivory Coast farmers pin hopes for main cocoa crop on July weather

Rainfall last week in most of Ivory Coast's cocoa regions was mainly below average and farmers on Monday said weather conditions this month would be crucial in determining the quality of the October-to-March main crop. The April-to-September mid-crop was

Published 05 Jul, 2019 12:00am

Germany set for larger winter wheat crop in 2019

Germany is on course for a larger winter wheat crop in 2019 after drought caused massive harvest damage last year, the association of German farmers DBV said on Wednesday. Germany will harvest about 24.1 million tonnes of winter wheat, up from the small c

Published 05 Jul, 2019 12:00am

European gasoline margins rise

Northwest European gasoline refining margins rose on Monday as exports to the US East Coast picked up following a fire at a major East Coast refinery. Gasoline exports from Europe to the US East Coast rose in recent days after the June 21 fire at the 335,

Published 05 Jul, 2019 12:00am

Vietnam's coffee prices higher on lower supplies

Coffee prices in Vietnam edged higher this week on low supplies, while trading activity picked up in Indonesia where a major harvest was in full swing. Farmers in the Central Highlands, Vietnam's largest coffee growing area, sold coffee at 35,000 dong ($1

Published 05 Jul, 2019 12:00am

Exchange

Chinese steel futures fall on brisk output

Chinese steel futures fell on Wednesday as production restrictions have been eased in some steelmaking hubs, raising concerns that overall output will remain brisk and providing extra support to record-high iron ore prices. The most-active October rebar c

Published 05 Jul, 2019 12:00am

Activities at Karachi and Port Qasim

The Karachi Port handled 180,818 tonnes of cargo comprising 109,762 tonnes of import cargo and 71,056 tonnes of export cargo including 8,688 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Published 05 Jul, 2019 12:00am

Cotton

Trade activity down on cotton market

Trade activity came down on the cotton market on Thursday in the process as the leading ginners were on the sidelines due to less buying interest, dealers said. The official spot rate was unchanged at Rs 8100, they added. In ready session, around 2400 bal

Published 05 Jul, 2019 12:00am

Indonesia's May palm oil output likely to rise

Indonesia's palm output in May likely rose from a month earlier, while exports declined, according to a Reuters survey of industry groups and researcher. Palm oil output in Indonesia, the world's top exporter, likely rose to 4.6 million tonnes in May, up

Published 05 Jul, 2019 12:00am

European wheat falls to 3-week low

European wheat fell to a near three-week low on Tuesday as US markets continued to weaken, pressured by good harvest progress in the United States and poor export prospects. Benchmark December milling wheat on Paris-based Euronext, was down 1% by 1537 GMT

Published 05 Jul, 2019 12:00am

34 staff freed after Canadian potash mine ordeal

More than 30 employees at a Canadian potash mine have been rescued after being trapped underground for 24 hours, a company spokesman said. The workers were carrying out maintenance duties when a service shaft broke down on Tuesday afternoon at Saskatoon-b

Published 05 Jul, 2019 12:00am

Flash flood in Mexico kills eight hikers

Eight hikers died in a flash flood in Mexico, authorities said Thursday. They were walking along a stream in northern Coahuila state Tuesday when a sudden surge of water swept them away, state authorities said. An initial investigation suggests the water

Published 05 Jul, 2019 12:00am

27 dead as fishing boat sinks off Honduras

At least 27 people died and nine were missing Wednesday when their fishing boat sank off the Caribbean coast of Honduras, the country's military said. Armed forces spokesman Jose Meza said that 55 people survived when the vessel sank off the remote coasta

Published 05 Jul, 2019 12:00am

Trump girds for July 4 bash starring himself

President Donald Trump prepared Thursday to host an Independence Day show like no other, featuring a speech from the Lincoln Memorial, a display of military tanks and jets roaring over Washington in what critics deride as a tax-payer-funded exercise in gl

Published 05 Jul, 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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