News Archives for Print - 2019-07-17

Print - 2019-07-17

Lithuania introduces e-residency to boost foreign investment

Lithuania's parliament voted Tuesday to offer e-residency which will allow entrepreneurs to run businesses in the Baltic state from abroad, in a bid to boost foreign investment. The legislation will enable foreigners to set up companies in the EU and euro

Published 17 Jul, 2019 12:00am

German investor confidence down again after June plunge

German investor confidence fell again in July after tumbling the previous month due to ongoing Middle East tensions, the US-China trade dispute and uncertainty over Britain's EU exit. Expectations for Europe's biggest economy in the coming months, which s

Published 17 Jul, 2019 12:00am

Powell doubles down on rate cut signal

Federal Reserve Chair Jerome Powell added more weight to expectations the central bank will cut interest rates later this month, stressing Tuesday that the US inflation outlook is near historic lows. Economists and investors see it as a certainty that the

Published 17 Jul, 2019 12:00am

Berlin snaps up 670 flats to help ease housing tensions

The city of Berlin is snapping up 670 apartments in a prime location from a private owner in a bid to ease mounting housing tensions in Germany's capital. Spiralling rent costs have become an issue for people seeking affordable housing in Berlin and in so

Published 17 Jul, 2019 12:00am

US retail sales ease fears over economy; rate cut still seen

US retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment. The report from the Commerce Department on Tuesday did not change market e

Published 17 Jul, 2019 12:00am

China says Trump 'misleading' people linking trade deal, slowing economy

China on Tuesday rebuffed a suggestion from US President Donald Trump that Beijing needs a trade deal with the United States because its economy is slowing, saying this was "totally misleading" and that both countries wanted an agreement. Trump, in a Mond

Published 17 Jul, 2019 12:00am

Strauss urges Stokes to stay grounded after World Cup

Andrew Strauss has urged Ben Stokes to keep his feet on the ground after the England all-rounder earned hero status with his role in their incredible World Cup final triumph. Stokes scored 84 not out against New Zealand at Lord's on Sunday to force a Supe

Published 17 Jul, 2019 12:00am

New Zealand coach wants rules review after 'hollow' World Cup final

New Zealand coach Gary Stead has called for the Cricket World Cup's rules to be overhauled, labelling the showpiece final "hollow" after England defeated the Black Caps on a technicality. The teams could not be separated at the end of both regular play an

Published 17 Jul, 2019 12:00am

PSG sign defender Diallo from Dortmund

Paris Saint-Germain have signed France under-21 international defender Abdou Diallo from Borussia Dortmund on a five-year deal, the French champions announced on Tuesday. German magazine Kicker reported PSG had paid 32 million euros ($35.9 million) plus a

Published 17 Jul, 2019 12:00am

Bangladesh rest Shakib, retain Mashrafe for Sri Lanka ODIs

Bangladesh are resting all-rounder Shakib Al Hasan but have retained skipper Mashrafe Mortaza for the three-match one-day international series against Sri Lanka later this month, officials said Tuesday. Left-arm spinner Taijul Islam and top-order batsman

Published 17 Jul, 2019 12:00am

Pakistan pugilists leave for Thailand Boxing Tournament

A six-member Pakistan squad will proceed to Thailand on Wednesday to participate in Thailand Open International Boxing Tournament. Previously known as the King's Cup, the tournament will be held in Bangkok from July 18-28. "Our four pugilists along with t

Published 17 Jul, 2019 12:00am

Qatar's Al-Attiyah dominates Silk Way rally

After traversing Russia's forests, the Mongolian steppe and the deserts of northern China, Qatar's Nasser Al-Attiyah finally claimed victory in the "big and beautiful" Silk Way Rally on Tuesday. Unchallenged after the elimination on day two of his main ri

Published 17 Jul, 2019 12:00am

Karachi's Abdul FC enter Leisure Leagues National Finals

Karachi's Abdul Football Club overpowered Jacobabad's Abdul Rehman Shaheed White in the Sindh Region final to become the first team to reach Leisure Leagues National Championship, which will be held later this month. Played at Agriculture University in Ta

Published 17 Jul, 2019 12:00am

PCB strengthens its media team

The Pakistan Cricket Board (PCB), as part of its efforts and commitment to generate, promote and publicise its domestic events and activities in both English and Urdu languages, has made two appointments in its Media and Communications team. Ahsan Iftikha

Published 17 Jul, 2019 12:00am

Amir Khan claims Pacquiao has agreed Saudi Arabia bout

British boxer Amir Khan claims he has agreed a deal to fight Manny Pacquiao in Saudi Arabia in November. Khan won the WBC international welterweight title with a fourth round stoppage of Australian Billy Dib in Jeddah on Friday. Now the 32-year-old plans

Published 17 Jul, 2019 12:00am

Australian newspapers lose Chris Gayle masseuse defamation appeal

An Australian media group on Tuesday lost an appeal against an Aus$300,000 (US$211,000) defamation payout to West Indies cricket star Chris Gayle after claiming he exposed his genitals to a masseuse. Gayle was accused by former media group Fairfax, which

Published 17 Jul, 2019 12:00am

Currency

Pound struggles against dollar in Asia

The pound struggled near a six-month low against the dollar on Tuesday, hampered by persistent worries over Brexit that, in turn, weighed on the euro. The dollar fought for traction against the yen as the prospect of a Federal Reserve interest rate cut la

Published 17 Jul, 2019 12:00am

Exchange

Euro drops, Swiss franc nears 2019 high in Europe

The euro fell on Tuesday after signs of deteriorating sentiment among German investors, although the prospect of more central bank easing - starting with the Federal Reserve later this month - meant another day of small, contained currency moves. Foreign

Published 17 Jul, 2019 12:00am

Currency

Early trade in New York: dollar surges against basket of currencies

The dollar rose against a basket of currencies on Tuesday as surprisingly strong growth in US retail sales in June soothed jitters about the American economy and trimmed expectations the Federal Reserve may embark on a deep interest rate cut later this mo

Published 17 Jul, 2019 12:00am

Exchange

Dollar rises in thin summer trading in New York

The dollar edged higher on Monday in thin summer trading, with its potential upside limited by expectations the Federal Reserve will cut interest rates at next week's policy meeting. Investors expect the Fed to reduce its key rate by 25 basis points and m

Published 17 Jul, 2019 12:00am

South Africa's rand weakens

South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the US central bank next week before making any big calls. At 1500 GMT the rand was 0.1% weaker at 13.9150 per dollar,

Published 17 Jul, 2019 12:00am

Most Asian currencies tread water before US data

Emerging Asian currencies largely held to the sidelines on Tuesday as investors were reluctant to make any big bets ahead of US retail sales and a host of speeches from Federal Reserve officials later in the global day. Market focus is firmly on a widely-

Published 17 Jul, 2019 12:00am

Currency

Bitcoin falls below $10,000

Bitcoin fell 8% on Tuesday, breaching $10,000 for the first time in two weeks after US lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies. The biggest cryptocurrency fell to $9828.89 b

Published 17 Jul, 2019 12:00am

Currency

Sterling sinks below $1.24, engulfed by 'perfect storm'

Sterling plunged briefly below $1.24 for the first time in 27 months on Tuesday and also hit six-month troughs against the euro as the two candidates to be Britain's next prime minister vied to outgun each other on taking a harder Brexit stance. Their pos

Published 17 Jul, 2019 12:00am

Currency

Aussie, kiwi remain up

The Australian and New Zealand dollars stayed firm on Tuesday as market priced in aggressive cuts in US interest rates, even as events at home suggested domestic policy would likely be eased again in coming months. The Aussie dollar held at $0.7036, havin

Published 17 Jul, 2019 12:00am

NBP profit rates

The National Bank of Pakistan has distributed the following rates of profit on PLS deposits and other deposits for the half year ended June 30, 2019:

Published 17 Jul, 2019 12:00am

Exchange

China iron ore, coke prices rise on increase in demand

China's iron ore and coke prices rose on Monday on expectations of an increase in demand for both steelmaking inputs, while steel futures rebounded from three-week lows touched earlier in the session. The most-traded September iron ore contract on the Dal

Published 17 Jul, 2019 12:00am

Exchange

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,069. The traded value of Metals, Energy and COTS/FX was recorded at PKR 7.655 billion and the number of lots traded 9,239. Major business was contributed by NSDQ100 amount

Published 17 Jul, 2019 12:00am

CBOT wheat futures tumble

Chicago Board of Trade wheat futures tumbled on Monday on spillover pressure from losses in corn and soyabean futures, traders said. CBOT September soft red winter wheat settled down 15-1/4 cents at $5.07-3/4 per bushel. K.C. September hard red winter whe

Published 17 Jul, 2019 12:00am

Russian wheat prices firm as USDA cuts crop forecasts

Russian wheat export prices rose slightly last week after the US Department of Agriculture (USDA) unexpectedly cut its crop forecasts and domestic producers held back sales in expectation of higher prices down the line, analysts said on Monday. Black Sea

Published 17 Jul, 2019 12:00am

CBOT corn futures fall

Chicago Board of Trade corn futures fell on profit-taking and forecasts for beneficial rains on Monday, after reaching a five-year high, traders said. CBOT September corn settled down 13-1/4 cents at $4.41 per bushel. New-crop December corn fell 12-1/4 ce

Published 17 Jul, 2019 12:00am

Activities at Karachi and Qasim Ports

The Karachi Port handled 89,009 tonnes of cargo comprising 61,420 tonnes of import cargo and 27,589 tonnes of export cargo including 5,160 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.

Published 17 Jul, 2019 12:00am

Cotton

Volume of business rises on cotton market

Volume of business showed significant improvement on the cotton market on Tuesday as some leading mills took interest in fresh buying of fine quality, dealers said.

Published 17 Jul, 2019 12:00am

No charges against New York police in 2014 choking death of black man

A New York police officer accused of placing a 43-year-old black man in a chokehold that may have contributed to his death in 2014 will not face federal charges, US Justice Department officials said Tuesday. The decision effectively closed the five-year-o

Published 17 Jul, 2019 12:00am

Russia and West spar at UN over minority rights in Ukraine

Russia on Tuesday slammed new legislation declaring Ukrainian to be the national language of Ukraine, during a meeting of the UN Security Council which western powers used as a forum to denounce Russia's annexation of Crimea. The Russian denunciation came

Published 17 Jul, 2019 12:00am

Sudan protesters reject 'absolute immunity' for generals

Sudan's key protest group is opposed to giving the military "absolute immunity" against prosecution for violence against demonstrators, a spokesman said, as the two sides held talks on a power sharing deal. "We refuse absolute immunity that the military r

Published 17 Jul, 2019 12:00am

Major powers urge halt to Libya fighting

Key powers including backers of a rebel leader called Tuesday for a halt to fighting in Libya, warning that bloodshed was aggravating a crisis on multiple fronts. The United States, France, Britain and Italy joined Egypt and the United Arab Emirates - two

Published 17 Jul, 2019 12:00am

UK to send third warship to Gulf

Britain will send a third Royal Navy warship to the Gulf, the defence ministry announced Tuesday, while insisting that it did not "reflect an escalation" of tensions with Iran in the region. Britain has already sent the HMS Duncan, an air defence destroye

Published 17 Jul, 2019 12:00am

Trump cites 'good relationship' with Turkey

President Donald Trump said Tuesday that US relations with Turkey are good despite Ankara's decision to buy a Russian missile defense system, making no mention of sanctions Washington has threatened over the purchase. Trump said Turkey was forced to buy t

Published 17 Jul, 2019 12:00am

Trump says US not seeking 'regime change' in Iran

President Donald Trump said Tuesday the United States is not pushing to topple Iran's leadership but is determined to stop it acquiring nuclear weapons. "We are not looking for regime change. We are not looking for that at all," Trump said during a cabine

Published 17 Jul, 2019 12:00am

South African singer Johnny Clegg dies

South African legendary singer Johnny Clegg, who blended Zulu rhythms with Western styles and defied apartheid segregation, died on Tuesday after a long battle with cancer, his manager said. "Johnny passed away (with) his family this afternoon after a fou

Published 17 Jul, 2019 12:00am

Iran to keep rolling back nuclear commitments: Khamenei

Iran's supreme leader Ayatollah Ali Khamenei said Tuesday that the Islamic republic will keep rolling back its commitments under the landmark 2015 nuclear deal. "You did not carry out a single one (of your commitments), why do you want us to stick to our

Published 17 Jul, 2019 12:00am

US slaps sanctions on Al-Qaeda affiliate in Mali

The US Treasury on Tuesday imposed sanctions on an Al-Qaeda-linked Islamist group in Mali that carried out deadly attacks on the west African country's armed forces. The measures target Jamaat Nusrat al-Islam wal-Muslimin (JNIM) - designated a terrorist o

Published 17 Jul, 2019 12:00am

'The world was watching': US commemorates Apollo mission 50 years on

Fifty years after a mighty Saturn V rocket set off from Florida carrying the first humans to the Moon, a veteran of the Apollo 11 crew returned to the fabled launch pad Tuesday to commemorate the event that defined an era. "We crew felt the weight of the

Published 17 Jul, 2019 12:00am

Cotton

Cotton prices down on robust crop conditions, strong dollar

ICE cotton futures fell over 1% on Tuesday, on good crop conditions and planting progress in major growing regions in the United States, while a robust dollar kept the natural fiber close to three-year lows touched last week. The most-active cotton contra

Published 17 Jul, 2019 12:00am

Exchange

Nickel jumps to one-year peak on industrial and fund buying

Nickel prices surged to their highest in a year on Tuesday, propelled by buying from speculators and industrial consumers worried about potential future shortages. A key ingredient in batteries for electric vehicles (EVs), nickel could be subject to incre

Published 17 Jul, 2019 12:00am

Oil prices fall as Iran tensions seen easing

Oil prices turned lower on Tuesday, falling more than 3% after US President Donald Trump said progress has been made with Iran, signalling tensions could ease in the Mideast. Brent crude futures fell $2.13 a barrel, or 3.2%, to settle at $64.35. The inter

Published 17 Jul, 2019 12:00am

Exchange

Tokyo rubber up; Shanghai futures fall

Tokyo Commodity Exchange (TOCOM) futures gained on Tuesday as the yen weakened, although Shanghai rubber fell as a new contract weighed on prices. China will start trading TSR20 rubber futures from August 12, the Securities Regulatory Commission said earl

Published 17 Jul, 2019 12:00am

Vegetable Oil

Malaysian palm oil ends lower

Malaysian palm oil futures ended lower at the close of trade on Tuesday, tracking weaker related edible oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange. The benchmark palm oil contract for October delivery on the Bursa Mala

Published 17 Jul, 2019 12:00am

New York cocoa rises amid disappointing EU grind data, coffee falls

New York cocoa prices rose slightly after earlier falling to a nearly six-week low on Tuesday as the market digested European cocoa grind data that indicated weaker-than-expected demand, while coffee erased the previous session's sharp gains. September Ne

Published 17 Jul, 2019 12:00am

Gold lower in New York

Gold edged lower on Monday as global stock markets gained with investors focusing on some upbeat economic readings from mixed Chinese economic data, while a firm dollar further weighed on bullion. Spot gold fell about 0.3% to $1,411.95 per ounce as of 1:4

Published 17 Jul, 2019 12:00am

Gold steadies in Asia

Gold prices held steady on Tuesday as investors awaited US retail sales data that could serve as an indicator of the strength of the world's largest economy amid lingering concerns over global economic slowdown. Spot gold was flat at $1,413.68 per ounce,

Published 17 Jul, 2019 12:00am

Gold falls in Europe

Gold prices fell on Tuesday after better-than-expected US retail sales data lowered expectations of an interest rate cut by the US Federal Reserve and boosted the dollar. Spot gold inched down 0.3% to $1,409.07 per ounce as of 11:43 a.m. EDT (1543 GMT). U

Published 17 Jul, 2019 12:00am

US MIDDAY: corn, soya slip

US grain and soyabean futures extended losses on Tuesday as crops in the American Midwest were poised to benefit from rains, traders said. Technical selling and better-than-expected US Department of Agriculture crop condition ratings added pressure on pri

Published 17 Jul, 2019 12:00am

US MIDDAY: gold eases

Gold prices fell on Tuesday after better-than-expected US retail sales data lowered expectations of an aggressive interest rate cut by the US Federal Reserve, boosting the dollar. Spot gold inched down 0.4% to $1,408.74 per ounce as of 1:36 p.m. EDT (1736

Published 17 Jul, 2019 12:00am

FPCCI believes in dialogue for resolving issues: VP

Vice president FPCCI Muhammad Arshad Jamal said that instead of agitation, Federation of Pakistan Chambers of Commerce and Industry believes in dialogue to resolve issues. "FPCCI is a responsible organisation. Its positive policies are being criticised by

Published 17 Jul, 2019 12:00am

UN launches 'Essential Service Package' for women, girls

The United Nations (UN) on Tuesday launched the Essential Service Package (ESP) to ensure that quality social services are provided to women and girls subject to violence in Pakistan, while Australian deputy high commissioner said that violence causes hug

Published 17 Jul, 2019 12:00am

Loads Limited

Among major autoparts manufacturers, Loads Limited (PSX: LOADS) is a prominent name. Established in 1979, the company started commercial production in 1985. The company manufacturers exhaust systems, mufflers, radiators and sheet metal components for the

Updated 18 Jul, 2019 07:20am

Mutual Funds

Loads Limited

Published 17 Jul, 2019 12:00am

NA session prorogued

The House Business Advisory Committee of the National Assembly met with Speaker Asad Qaiser in the chair on Tuesday to discuss the business for the session of the National Assembly.

Published 17 Jul, 2019 12:00am

Economic conditions to improve soon: Sumsam

Provincial Information Minister, Syed Sumsam Ali Bukhari on Tuesday said that no one will be given safe passage and accountability will be carried out come what may.

Published 17 Jul, 2019 12:00am

Millennium campus celebrates excellent IBDP results

The new graduates of Flagship Millennium Campus, I-9/3, Islamabad celebrated global achievement in the form of excellent results of the International Baccalaureate Diploma Programme (IBDP) here on Tuesday.

Published 17 Jul, 2019 12:00am

KP flour millers to go on three-day strike

Flour millers in Khyber Pakhtunkhwa on Tuesday announced to shut mills from July 17 to 19, to protest against imposition of 17 percent General Sale Tax (GST) on wheat bran. Talking to this scribe after chairing KP flour millers meeting here, the All Pakis

Published 17 Jul, 2019 12:00am

New tax policy for jewellers and traders on the cards

Federal Board of Revenue (FBR) will formulate a new tax policy to facilitate jewellers and traders in consultation with all jewellers associations and Pakistan Traders Alliance during the current week. The FBR Tuesday took measures to facilitate business

Published 17 Jul, 2019 12:00am

AOB revokes audit firm's registration

The Audit Oversight Board (AOB) has revoked the registration of an audit firm and thereby stopped it from carrying out audit of public interest companies.

Published 17 Jul, 2019 12:00am

Atlas Copco Pakistan arranges free medical camp

A one-day free medical camp was arranged by Atlas Copco Pakistan, a fully owned customer centre of Atlas Copco Group, which is the world's leading innovative equipment, and industrial tools manufacturers and Transparent Hands at Gopal Nagar, Lahore.

Published 17 Jul, 2019 12:00am

IT minister visits NIC Quetta

Dr Khalid Maqbool Siddiqui visited National Incubation Centre (NIC) Quetta, which is one of five incubators conceived, funded and set up by Ignite under the auspices of Ministry of IT & Telecom. NIC Quetta is being managed by LUMS in collaboration with BU

Published 17 Jul, 2019 12:00am

Delegations of religious seminaries meet HEC chief

A delegation consisting of representatives of different boards of religious seminaries led by President, Tanzeemul Madaris Ahle Sunnat Mufti Muneeb-ur-Rehman called on Chairman Higher Education Commission (HEC) Dr Tariq Banuri at the HEC Secretariat on Tu

Published 17 Jul, 2019 12:00am

Alvi lauds e-data collection system of PBS

Appreciating the initiative undertaken by Pakistan Bureau of Statistics (PBS) in developing its electronic data collection system, President Dr Arif Alvi expressed the hope that the new system would auger well towards enhancing the credibility of Price St

Published 17 Jul, 2019 12:00am

Senate body voices concern over fire incidents in forests

The Senate Standing Committee on Climate Change expressed grave concern on Tuesday over fire incidents in the forests of Islamabad, Murree and Khyber Pakhtunkhwa while slamming the absence of Adviser to Prime Minister on Climate Change Malik Amin Aslam fr

Published 17 Jul, 2019 12:00am

Minister tells Sindh Assembly: Academic system destroyed due to political interference

Political interferences phenomenally scaled up students' dropouts in the government-run schools and ravaged the academic system, Sindh Education Minister, Syed Sardar Shah told the Sindh Assembly on Tuesday. On the private members' day, the minister said

Published 17 Jul, 2019 12:00am

Transfers in Customs aimed at achieving revenue target

Pakistan Customs has made 1650 transfers to achieve the challenging revenue target and particularly to curb smuggling. As part of the prime minister's drive to change FBR, the customs department has undertaken one of its biggest ever reshuffle.

Published 17 Jul, 2019 12:00am

Poor performance of utilities' providers hindering industrial uplift: HSATI

The office bearers of Hyderabad SITE Association of Trade and Industry have termed the poor performance of facility providers like Hesco, SSGL and Wasa as the main hurdles to promotion of industrial development in Hyderabad.

Published 17 Jul, 2019 12:00am

Mental health issues attributed to lack of recreational activities

Cardiovascular diseases, obesity and mental health related issues have ascended in the urban areas due to lack of recreational and social activities. "There are many benefits of recreational activities for mental and physical health. They have positive ef

Published 17 Jul, 2019 12:00am

Business environment: US CG's economic unit chief seeks KCCI input

Chief of the Economic Unit at US Consulate General, Chad Miner has sought KCCI's input on current economic environment in Pakistan.

Published 17 Jul, 2019 12:00am

Orientation seminar held at UHS

University of Health Sciences (UHS) will conduct the Medical and Dental Colleges' Admission Test (MDCAT) on August 25 in 13 cities of the province. The online registration of MDCAT will start from July 19 and will continue till July 29. This was stated by

Published 17 Jul, 2019 12:00am

KDA to launch drive against land grabbers

Karachi Development Authority (KDA) Director General Abdul Qadeer Mangi on Tuesday said that all the KDA lands would be vacated from land grabbers while a grand operation across the city would be launched soon.

Published 17 Jul, 2019 12:00am

JS Bank becomes 13th largest bank

Striving for growth and innovation since its inception on December 30, 2006, JS Bank has established itself as a leading financial sector institution within Pakistan. Its journey over the past twelve years has been one of challenges, opportunities and eve

Published 17 Jul, 2019 12:00am

'Assets beyond means' case: Sindh minister's bail extended till Sept 17

Sindh High Court (SHC) on Tuesday granted extension in the bail of Taimur Talpur, provincial minister of Sindh till September 17, 2019 in "assets beyond means" case. A division bench of the SHC also granted two-month time to National Accountability Bureau

Published 17 Jul, 2019 12:00am

ICRC Pakistan to hold 'Bharosa Karein' campaign

The International Committee of the Red Cross (ICRC) Pakistan has announced to organise a media campaign in July 2019 with the title "Bharosa Karein". An ICRC official told Business Recorder on Tuesday that the campaign is aimed at focusing on public sensi

Published 17 Jul, 2019 12:00am

Abbottabad Tehsil Council's Rs 1.373 billion budget announced

July 16- Tehsil Council Abbottabad Tuesday unanimously approved a Rs 1.373 billion tax-free budget for the fiscal year 2019-20. Teshil Nazim Abbottabad Ishaq Zakria presented the budget 2019-20 that was approved by the Tehsil council with consensus. Under

Published 17 Jul, 2019 12:00am

KU announces MBBS, BDS exams results

The Controller of Examinations, University of Karachi, Professor Dr Arshad Azmi on Tuesday announced the results of MBBS, First Professional, BDS, First and Second Professional, Annual Examination 2019.

Published 17 Jul, 2019 12:00am

Exchange

Murtaza accuses PTI of pursuing anti-people policies

Adviser to Chief Minister Sindh on Information, Law and Anti Corruption Barrister Murtaza Wahab has said that due to the anti-masses policies of the federal government 220 million people are being exploited of their basic rights. This, he said, in a state

Published 17 Jul, 2019 12:00am

Qureshi hopes to 'refresh' US ties with PM's visit

Foreign Minister Shah Mehmood Qureshi Tuesday highlighted what Pakistan desires to achieve through the meeting between Prime Minister Imran Khan and US President Donald Trump scheduled next week, focusing on enhanced trade and economic cooperation with a

Published 17 Jul, 2019 12:00am

Judicial remand of Sanaullah extended till July 29

A judicial magistrate on Tuesday extended judicial remand of former provincial law minister Rana Sanaullah Khan and five other suspects till July 29 and directed the Anti Narcotics Force (ANF) to submit chargesheet without further delay. Earlier, Rana San

Published 17 Jul, 2019 12:00am

Reko Diq, Broadsheet LLC cases: opposition lawmakers demand parliamentary commission to probe

The PML-N and PPP lawmakers in National Assembly on Tuesday demanded to form a parliamentary commission to probe into Reko-Diq and Broadsheet LLC awards against Pakistan, which further pushed the already debt-ridden country towards worsen economic crises.

Published 17 Jul, 2019 12:00am

Saudi envoy meets PBM MD

Saudi Ambassador in Pakistan Nawaf Saeed Ahmad Al-Malki Tuesday discussed the areas of cooperation with Managing Director of Pakistan Bait-ul-Mal (PBM) Aon Abbas Buppi aiming to mitigate the sufferings of poor populace in the country.

Published 17 Jul, 2019 12:00am

Load-shedding disrupts PAC meeting

The meeting of a subcommittee of Public Accounts Committee (PAC) was adjourned after just half-an-hour on Tuesday due to load-shedding in the Parliament House. The PAC session was being presided over by Noor Alam Khan when the committee room went dark due

Published 17 Jul, 2019 12:00am

Defamation suit against PM: Firdous accepts challenge of PML-N leader

Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Tuesday accepted challenge of Pakistan Muslim League-Nawaz (PML-N) leader Shahid Khaqan Abbasi regarding filing defamation suit against PM Imran Khan and special

Published 17 Jul, 2019 12:00am

NA speaker urged to issue POs of five lawmakers

The opposition parties on Tuesday requested Speaker National Assembly Asad Qaiser to issue production orders for five parliamentarians detained by different agencies of the government. According to sources, the Opposition Members of the National Assembly

Published 17 Jul, 2019 12:00am

Corruption in Lok Virsa funds: AC to indict PPP senator and others on July 23

The Accountability Court will indict Pakistan People's Party (PPP) Senator Rubina Khalid and others in a reference regarding alleged corruption in Lok Virsa funds which incurred loss of Rs 30.13 million to national exchequer. Senator Rubina who is also fo

Published 17 Jul, 2019 12:00am

Fake bank accounts case: applications for plea bargain of three accused still under process: NAB

The National Accountability Bureau (NAB) Tuesday informed the Accountability Court that applications for plea bargain of three accused in the fake bank accounts case are still under process. Accountability Court Judge Muhammad Bashir during the hearing in

Published 17 Jul, 2019 12:00am

Adding insult to injury

The State Bank of Pakistan's third quarterly report has pointed out that despite stabilization phase led by demand management policies, vulnerabilities in the inflation, external and fiscal sectors persisted, which suggests that current stabilization agen

Published 17 Jul, 2019 12:00am

Training journalists in the era of fake news

As uncannily realistic "deep fake" videos proliferate online, including one recently retweeted by Donald Trump, journalism schools are scrambling to adapt to an era of misinformation - or fake news. Experts discussed how to train tomorrow's reporters for

Published 17 Jul, 2019 12:00am

The right to fair trial

Can a person be convicted for corruption in a fair trial? The answer is in the negative. Can anyone be denied a fair trial and due process? The answer is again in the negative. This is the dilemma the state is faced with.

Published 17 Jul, 2019 12:00am

Military expenditure and global poverty

In 2018 India incurred a colossal $66.5 billion in military expenditure as compared to a lowly $11.4 billion by Pakistan the same year rejecting the notion that the latter was ensnared in an arms race with the former. India had actually increased its mili

Published 17 Jul, 2019 12:00am

Yet more corruption allegations

British tabloid, The Mail on Sunday, has created a considerable political commotion with the publication of an alleged corruption scandal involving the PML-N president Shahbaz Sharif and family. According to the paper, during his tenure as chief minister

Updated 17 Jul, 2019 08:33am

Exchange

Stabilization challenges

The State Bank of Pakistan (SBP) in its third quarterly report on the state of Pakistan's economy stated that "inspite of being in stabilization phase led by demand management policies for the last sixteen months, three challenges still stand out: First,

Updated 17 Jul, 2019 08:30am

Exchange

PIA seeks Rs 17.5 billion for VSS payment, IFE improvement

Pakistan International Airlines (PIA) has sought Rs 17.5 billion from the federal government to pay lenders, for Voluntary Separation Scheme (VSS) and improve in-flight entertainment (IFE), sources close to Aviation Minister told Business Recorder. Giving

Published 17 Jul, 2019 12:00am

Exchange

PIA seeks Rs 17.5 billion for VSS payment, IFE improvement

Published 17 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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