News Archives for Print - 2019-08-09 - Business Recorder

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Print - 2019-08-09

Message from Advisor to Chief Minister on Economic Affairs, Planning & Development

Message from Advisor to Chief Minister on Economic Affairs, Planning & Development

Pakistan with its large young population, rapid urbanization rates, the Indus river system, natural resources and its emerging role as a unique economic corridor (CPEC) has an amazing opportunity to become a major prosperous participant in global supply c

Published 09 Aug, 2019 12:00am

Message from Chief Minister Punjab

Message from Chief Minister Punjab

Government of Punjab envisions that Punjab will play a key role in equitable and sustainable development of Pakistan, the vision of Naya Pakistan hinges upon principles of justice and equity. The youth bulge of Punjab also needs more opportunities and ave

Published 09 Aug, 2019 12:00am

Saudi Arabia boosts Russia ties with welcome for Black Sea wheat

Saudi Arabia boosts Russia ties with welcome for Black Sea wheat

Saudi Arabia will relax its bug-damage specifications for wheat imports from its next tender onwards, it told Reuters on Thursday, opening the door to Black Sea imports and strengthening ties with Russia beyond energy cooperation.

Published 09 Aug, 2019 12:00am

Venezuela inflation rate ticks up

Venezuela inflation rate ticks up

Venezuela's monthly inflation rate ticked up in July after two straight months of declines, the opposition-held congress said on Thursday, despite tight reserve requirements that economists say are exacerbating an economic collapse.

Published 09 Aug, 2019 12:00am

US slaps duties on $4.4 billion in imported Chinese cabinets

US slaps duties on $4.4 billion in imported Chinese cabinets

The United States hit China with new import duties Thursday on more than $4 billion in imported wooden cabinets and vanities, after finding manufacturers there benefit from unfair subsidies.

Published 09 Aug, 2019 12:00am

Beijing calls US ban on Chinese firms 'abuse of state power'

Currency

Beijing calls US ban on Chinese firms 'abuse of state power'

Beijing on Thursday said US rules banning technology giant Huawei and other Chinese firms from government contracts amounted to "abuse of state power" amid an escalating China-US trade war.

Published 09 Aug, 2019 12:00am

Philippine growth slows to four-year low

Philippine growth slows to four-year low

Philippine economic growth slowed to 5.5 percent in the three months to June, its slowest pace in more than four years, as trade wars took their toll, the government said Thursday.

Published 09 Aug, 2019 12:00am

China's exports unexpectedly rise in July

Currency

China's exports unexpectedly rise in July

China's exports beat expectations to rise in July while its purchases continued to shrink, official data showed Thursday, despite simmering US trade tensions.

Published 09 Aug, 2019 12:00am

Thyssenkrupp slashes outlook and flags weak units

Thyssenkrupp slashes outlook and flags weak units

German industrial conglomerate Thyssenkrupp on Thursday reported lower losses in the third quarter, flagging up three struggling businesses and slashing its forecasts as it tackles a massive restructuring. Essen-based Thyssenkrupp lost 77 million euros ($

Published 09 Aug, 2019 12:00am

Adidas fears 'everybody will lose' in US-China currency war

Exchange

Adidas fears 'everybody will lose' in US-China currency war

German sportswear maker Adidas warned Thursday that "everybody will lose" if a currency war ignites between China, the United States and other countries, while reporting continued strong earnings in its second quarter.

Published 09 Aug, 2019 12:00am

UK train firms' full steam reverse on Interrail departure

UK train firms' full steam reverse on Interrail departure

Britain's train operators on Thursday said they were reversing a decision to pull out of the Interrail pass programme, a day after announcing the move to a backlash from travellers.

Published 09 Aug, 2019 12:00am

Strong US growth keeps Deutsche Telekom on track

Strong US growth keeps Deutsche Telekom on track

German network operator Deutsche Telekom on Thursday confirmed its 2019 outlook after almost doubling profits in the second quarter, as its American mobile arm again saw surging customer numbers.

Published 09 Aug, 2019 12:00am

Singapore ready to stimulate ailing economy, says PM

Singapore ready to stimulate ailing economy, says PM

Singapore's government stands ready to stimulate the economy, Prime Minister Lee Hsien Loong said on Thursday, after some of the worst economic data in years prompted warnings that a recession may be looming.

Published 09 Aug, 2019 12:00am

US labour market strong; Q2 GDP growth expected to be revised down

US labour market strong; Q2 GDP growth expected to be revised down

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting the labour market remains strong even as the economy is slowing.

Published 09 Aug, 2019 12:00am

Egyptian blue chips surge on inflation beat, robust earnings

Egyptian blue chips surge on inflation beat, robust earnings

Egyptian blue-chip stocks had their strongest day in nearly six months on Thursday as better-than-expected July inflation data and a host of strong corporate earnings buoyed investors ahead of a three-day religious holiday starting Sunday.

Published 09 Aug, 2019 12:00am

Nikkei springs back

Nikkei springs back

Tokyo's key Nikkei index closed higher on Thursday, snapping four days of losses driven by concerns over trade tensions between the United States and China, as investors hunted for bargains.

Published 09 Aug, 2019 12:00am

Thursday's early afternoon trade: Wall Street surges after upbeat economic data

Currency

Thursday's early afternoon trade: Wall Street surges after upbeat economic data

Wall Street's main indexes were sharply higher on Thursday as better-than-expected domestic and Chinese data as well as a firming yuan offered some relief to investors alarmed by a week of blow and counterblow between Beijing and Washington over trade.

Published 09 Aug, 2019 12:00am

S&P erases big losses to end up; Disney drops

Exchange

S&P erases big losses to end up; Disney drops

The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.

Published 09 Aug, 2019 12:00am

Treasury 30-year yields near record lows

Treasury 30-year yields near record lows

US Treasury yields tumbled on Wednesday, with 30-year yields approaching record lows, on growing fears over a global economic downturn and bets the Federal Reserve would have to pick up its pace of interest rate cuts to counter recession risks.

Published 09 Aug, 2019 12:00am

Treasury 30-year yields near record lows

Treasury 30-year yields near record lows

US Treasury yields tumbled on Wednesday, with 30-year yields approaching record lows, on growing fears over a global economic downturn and bets the Federal Reserve would have to pick up its pace of interest rate cuts to counter recession risks.

Published 09 Aug, 2019 12:00am

Australian shares climb

Australian shares climb

Australian shares rose on Thursday, helped by mining stocks and surprisingly solid July trade numbers out of top trading partner China. The S&P/ASX 200 index ended 48.6 points, or 0.8% higher, at 6,568.1. The index advanced 0.6% on Wednesday China's July

Published 09 Aug, 2019 12:00am

China stocks halt week-long losses

Exchange

China stocks halt week-long losses

Shares in China ended six straight sessions of losses on Thursday as the yuan staged a small recovery, which calmed fears in global markets of a full-blown Sino-US currency war. At the close, the Shanghai Composite index was up 0.9% at 2,794.55, while the

Published 09 Aug, 2019 12:00am

China respite spurs strong bounce in European shares

Currency

China respite spurs strong bounce in European shares

European shares had their best day in almost two months on Thursday as upbeat trade data from China and a steadying of its currency helped to calm some fears of recession and a further escalation in Sino-US trade tensions.

Published 09 Aug, 2019 12:00am

Indian shares jump most in 11 weeks

Indian shares jump most in 11 weeks

Indian shares rallied in late trading on Thursday and posted their biggest gain in 11 weeks, after reports that the government was planning sops for investors, including a withdrawal of the surcharge on foreign portfolio investors (FPIs) and a re-look at

Published 09 Aug, 2019 12:00am

Southeast Asian stocks: Indonesia extends gains, Singapore down

Southeast Asian stocks: Indonesia extends gains, Singapore down

Indonesian shares rose over 1% on Thursday, extending gains into the second session after dovish comments from a top central bank official boosted investor sentiment, while Singapore stocks closed lower for a sixth session in seven on industrials.

Published 09 Aug, 2019 12:00am

FTSE jumps amid soothing China nerves, Hargreaves lead

FTSE jumps amid soothing China nerves, Hargreaves lead

Mining stocks thrust London's main index higher on Thursday after a round of Chinese data dissipated some global growth fears and nickel prices hit a 16-month high amid supply worries, while Hargreaves Lansdown advanced after strong annual results.

Published 09 Aug, 2019 12:00am

Bangladesh to host Zimbabwe despite ICC ban

Bangladesh to host Zimbabwe despite ICC ban

Bangladesh will host Zimbabwe for a tri-nations Twenty20 tournament in September despite the African nation being suspended by the game's world body, an official of the Bangladesh Cricket Board said Thursday. The International Cricket Council (ICC) suspen

Published 09 Aug, 2019 12:00am

BARD-sponsored swimmer shows promise at World Championships

BARD-sponsored swimmer shows promise at World Championships

Bilquis and Abdul Razak Dawood Foundation (BARD) supported swimmer Mishael Ayub was selected by the Pakistan Swimming Federation (PSF), to compete at the 18th FINA World Aquatics Championships held recently in Gwangju. Swimming at a major FINA event is a

Published 09 Aug, 2019 12:00am

Pakistan squad for ACC U-19 Asia Cup announced

Pakistan squad for ACC U-19 Asia Cup announced

The Pakistan Cricket Board (PCB) has announced a 15-member line-up for the ACC Under-19 Asia Cup, which will run from September 5 to 14 in Sri Lanka. The other seven teams participating in the tournament are the hosts Sri Lanka, India, Bangladesh, Afghani

Published 09 Aug, 2019 12:00am

Hafeez, Shoaib out as central contracts for 19 players announced

Hafeez, Shoaib out as central contracts for 19 players announced

The Pakistan Cricket Board (PCB) Thursday announced list of central contracts for the 2019-20 season during which the men's cricket team will play six World Test Championship Tests, three ODIs and nine T20Is. The list has been trimmed from 33 to 19 and th

Published 09 Aug, 2019 12:00am

Pliskova reaches Toronto quarters

Pliskova reaches Toronto quarters

Karolina Pliskova kept the pressure on Naomi Osaka in the battle to take the world number one ranking by reaching the quarter-finals of the WTA tournament in Toronto on Thursday. The Czech third seed saw off Estonia's Anett Kontaveit 6-3, 7-5 to set up a

Published 09 Aug, 2019 12:00am

Sindh Bar Council to hold T20 tournament

Sindh Bar Council to hold T20 tournament

Sindh Bar Council has planned a T20 cricket tournament to be played from August 25 at Karachi, Hyderabad and Mirpurkhas. This was stated Muhammad Azam Khan, Chairman Executive Committee of Sindh Bar Council and Musharraf Azhar advocate, the organizer of t

Published 09 Aug, 2019 12:00am

Security review: Sri Lankan cricket delegation visits PSCA

Security review: Sri Lankan cricket delegation visits PSCA

A high-level security delegation of the Sri-Lankan Cricket Board visited the Punjab Safe Cities Authority (PSCA) Headquarters on Thursday to assess security arrangements. PSCA Managing Director Ali Amir Malik, Chief Operating Officer Akber Nasir Khan and

Published 09 Aug, 2019 12:00am

Hashim Amla retires from all formats cricket

Hashim Amla retires from all formats cricket

Hashim Amla, the only South African to score a triple Test match century, on Thursday announced his retirement from international cricket, just days after fast bowler Dale Steyn said he was quitting Tests. Amla, 36, said he was retiring from all internati

Published 09 Aug, 2019 12:00am

Cricket Australia sets testosterone limit for transgender players

Cricket Australia sets testosterone limit for transgender players

Cricket Australia unveiled new guidelines Thursday to ensure transgender players can take part in the game at the highest levels. The policy sets out a testosterone limit for transgender and gender-diverse players who want to play for state and national w

Published 09 Aug, 2019 12:00am

Afghan women's soccer officials slam FIFA over abuse probe

Afghan women's soccer officials slam FIFA over abuse probe

A "culture of abuse" still thrives in Afghanistan women's football because of the way FIFA is handling allegations of sexual misconduct, top officials for the national women's team said Thursday. In June, FIFA banned Afghanistan Football Federation's form

Published 09 Aug, 2019 12:00am

Global growth fears support yen in Asia

Currency

Global growth fears support yen in Asia

The yen was supported on Thursday, after global central banks startled markets with heavy rate cuts and threats of more to come as world economic risks grow, boosting the appeal of the safe-haven Japanese currency The New Zealand and Australian dollars cl

Published 09 Aug, 2019 12:00am

Rate cuts, China data caps dollar gains in Europe

Currency

Rate cuts, China data caps dollar gains in Europe

The dollar steadied on Thursday as risk sentiment rose after resilient Chinese trade data and as Beijing's efforts to slow a slide in the value of the renminbi encouraged investors to buy riskier currencies. Data showed Chinese exports rose 3.3% in July f

Published 09 Aug, 2019 12:00am

Early trade in New York: dollar, yuan stronger as risk sentiment improves

Currency

Early trade in New York: dollar, yuan stronger as risk sentiment improves

The dollar index inched higher on Thursday and the Chinese currency strengthened after the Chinese central bank fixed the yuan at a stronger level than expected, boosting risk appetite. The People's Bank of China (PBOC) set the midpoint rate at 7.0039. Th

Published 09 Aug, 2019 12:00am

Yen, Swiss franc up against dollar in New York

Currency

Yen, Swiss franc up against dollar in New York

The Japanese yen rose to an eight-month high against the dollar on Wednesday and the Swiss franc gained as worries over flagging international growth sent investors to safe-haven currencies. Fears about the global economic slowdown are rising even as cent

Published 09 Aug, 2019 12:00am

China's yuan fix, exports data boost Asia FX

China's yuan fix, exports data boost Asia FX

China's yuan gained on Thursday after more signs Beijing was slowing its fall, while currencies across Asia were also lifted by better export data from China a day after surprise rate cuts by central banks raised the spectre of a global recession. The Peo

Published 09 Aug, 2019 12:00am

South Africa's rand hits new 11-month low

South Africa's rand hits new 11-month low

South Africa's rand steadied in late trade on Thursday, after slipping to a new 11-month low in the session as concerns about the outlook for domestic growth and fears over a sovereign credit rating downgrade weighed on sentiment. At 1515 GMT, the rand tr

Published 09 Aug, 2019 12:00am

China relief helps Latam FX rise

China relief helps Latam FX rise

Latin American currencies broadly firmed against the dollar on Thursday, as surprisingly upbeat trade data from China and hints that Beijing officials will limit losses in the yuan eased growth worries for now. After reeling from worries in the past week

Published 09 Aug, 2019 12:00am

Sterling hits 2-year low against euro

Exchange

Sterling hits 2-year low against euro

Sterling briefly fell to a two-year low against the euro after a media report said new Prime Minister Boris Johnson was preparing to hold an election in the days after the deadline for Britain to leave the European Union on October 31. The prospect of a n

Published 09 Aug, 2019 12:00am

Lira hits four-month high, outpacing EM peers

Currency

Lira hits four-month high, outpacing EM peers

The Turkish lira continued its winning run against peers on Thursday, firming to its strongest level since early April thanks to a thawing of Turkey-US relations and a months-long trend of policy easing among major central banks. The lira stood at 5.4835

Published 09 Aug, 2019 12:00am

US natural gas futures fall as oil prices plunge

Exchange

US natural gas futures fall as oil prices plunge

US natural gas futures for Wednesday slipped close to a 38-month low with a 5% drop in crude prices and forecasts for less gas demand next week than previously expected. The move lower came despite a decline in production and forecasts that power demand i

Published 09 Aug, 2019 12:00am

PMEX daily trading report

Exchange

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,992. The traded value of Metals, Energy and COTS/FX was recorded at PKR 105.617 billion and the numbers of lots traded were 91,548.

Published 09 Aug, 2019 12:00am

CBOT wheat jumps on short covering

CBOT wheat jumps on short covering

Chicago Board of Trade (CBOT) wheat futures rebounded on Wednesday on short covering and technical buying as early selling pressure that spilled in from lower stock markets and crude oil evaporated. CBOT September soft red winter wheat ended 4-1/4 cents h

Published 09 Aug, 2019 12:00am

Paris wheat futures fall to 2-1/2-month low

Paris wheat futures fall to 2-1/2-month low

Paris wheat futures fell for a third straight session on Wednesday to hit a new 2-1/2 month low as the market continued to focus on the impact of Europe's large harvest. The European market failed to find support from Chicago futures, which saw hesitant t

Published 09 Aug, 2019 12:00am

Rains to boost Ivory Coast's cocoa main crop

Rains to boost Ivory Coast's cocoa main crop

Cocoa pods are growing well in Ivory Coast's cocoa regions, signalling an abundant start to the upcoming main crop despite below-average rains in some regions, farmers told Reuters on Monday. Good soil moisture after weeks of sustained rains had helped po

Published 09 Aug, 2019 12:00am

China's iron ore slides for 5th day on rising supply

Exchange

China's iron ore slides for 5th day on rising supply

Most ferrous metals in China's futures markets remained under pressure on Wednesday, with iron ore extending its slide for the fifth session to its weakest in six weeks, amid the spectre of rising supply and weakening demand.

Published 09 Aug, 2019 12:00am

Activities at Karachi and Port Qasim

Activities at Karachi and Port Qasim

The Karachi Port handled 89,662 tonnes of cargo comprising 63,059 tonnes of import cargo and 26,603 tonnes of export cargo including 4,661 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargos of 63

Published 09 Aug, 2019 12:00am

Cotton prices firm ahead of Eid holidays

Cotton

Cotton prices firm ahead of Eid holidays

Trade activity came down on the cotton market on Thursday in the process of modest trading activity, dealers said. The official spot rate stopped further erosion, holding overnight level at Rs 7750, they added. In ready session, about 5,000 bales of cotto

Published 09 Aug, 2019 12:00am

CBOT soyabean futures higher

CBOT soyabean futures higher

Chicago Board of Trade (CBOT) soyabean futures settled slightly higher on Wednesday on short covering as dry conditions in parts of the US Midwest crop belt stoked worries about a smaller US harvest, traders said. CBOT August soyabeans ended up 1 cent at

Published 09 Aug, 2019 12:00am

PMEX creates history

Exchange

PMEX creates history

Pakistan Mercantile Exchange Limited (PMEX), the country's only multi-commodity futures exchange, recorded the highest ever daily trading volume of PKR 105.619 billion on August 07, 2019, since commencement of its operations in 2007, said in a press relea

Published 09 Aug, 2019 12:00am

World warned: change now or endanger food and climate

World warned: change now or endanger food and climate

Humanity faces increasingly painful trade-offs between food security and rising temperatures within decades unless emissions are curbed and unsustainable farming and deforestation halted, a landmark climate assessment said Thursday. The UN's Intergovernme

Published 09 Aug, 2019 12:00am

One dead after 5.9-magnitude quake jolts Taiwan

One dead after 5.9-magnitude quake jolts Taiwan

A 5.9-magnitude earthquake that rattled Taiwan on Thursday killed one woman and caused temporary power outages that affected over 10,000 homes, authorities said. Tremors were felt across the island and high-rises in Taipei swayed as the quake struck off t

Published 09 Aug, 2019 12:00am

Strong quake hits Turkey

Strong quake hits Turkey

A 8-magnitude earthquake was recorded in southwestern Turkey on Thursday, according to the US Geological Studies Institute, with reports of collapsed buildings but no serious casualties. The earthquake was recorded in the province of Denizli near the town

Published 09 Aug, 2019 12:00am

Top US diplomat for Latin America resigns

Top US diplomat for Latin America resigns

The US State Department's top diplomat for Latin American affairs has resigned, Secretary of State Mike Pompeo confirmed on Twitter Thursday. Kimberly Breier, assistant secretary of state for Western Hemisphere Affairs, was stepping down to spend more tim

Published 09 Aug, 2019 12:00am

Trump criticises French president for sending Iran 'mixed signals'

Trump criticises French president for sending Iran 'mixed signals'

President Donald Trump on Thursday accused his French counterpart Emmanuel Macron of getting in the way of US policy and sending "mixed signals" to Iran. "Iran is in serious financial trouble. They want desperately to talk to the U.S., but are given mixed

Published 09 Aug, 2019 12:00am

Johnson plans visa shake-up to attract science talent

Johnson plans visa shake-up to attract science talent

Prime Minister Boris Johnson unveiled plans Thursday for a new fast-track visa route for "the brightest and best", in a bid to attract the world's top scientists to Britain after Brexit. The "shake-up" of immigration rules is aimed at encouraging elite re

Published 09 Aug, 2019 12:00am

Zimbabwean tourism minister sacked

Zimbabwean tourism minister sacked

President Emmerson Mnangagwa fired Tourism Minister Prisca Mupfumira on Thursday, a statement from Zimbabwe's presidency said, after she was detained over the disappearance of millions of dollars during her time as welfare minister. Prisca Mupfumira is fa

Published 09 Aug, 2019 12:00am

Lebanon newspaper goes black

Lebanon newspaper goes black

A prominent Lebanese daily Thursday appeared on newsstands with a black front page in the second such protest by a local paper in less than a year over the country's lingering political crisis. "Lebanon," read the cover of The Daily Star, the country's on

Published 09 Aug, 2019 12:00am

China tells US diplomats in Hong Kong to stop interfering

China tells US diplomats in Hong Kong to stop interfering

China demanded Thursday that US diplomats based in Hong Kong "stop interfering" in the city's affairs, after reports that they met with pro-democracy activists. The foreign ministry said it had expressed "strong dissatisfaction" with US authorities, citin

Published 09 Aug, 2019 12:00am

Volcano near Tokyo erupts

Volcano near Tokyo erupts

A volcano near Tokyo has erupted for the first time in four years, throwing ash and smoke nearly two kilometres into the sky and sparking warnings not to approach the mountain. Mount Asama, some 140 kilometres (90 miles) northwest of the Japanese capital,

Published 09 Aug, 2019 12:00am

Pentagon chief makes rare visit to Mongolia

Pentagon chief makes rare visit to Mongolia

US Defense Secretary Mark Esper made a rare visit to Mongolia on Thursday - the latest leg of an Asian tour aimed at shoring up partnerships to counter China's growing influence in the region. Esper has visited several regional US allies including Japan a

Published 09 Aug, 2019 12:00am

Damascus rejects Turkey-US plan, Kurds give guarded welcome

Damascus rejects Turkey-US plan, Kurds give guarded welcome

Damascus said Thursday it strongly rejects a proposed US-Turkish buffer zone for northern Syria, blaming the "aggressive" project on Syria's Kurds, who gave the proposal a guarded welcome. Turkish and US officials agreed on Wednesday to establish a joint

Published 09 Aug, 2019 12:00am

Oil rises over two percent

Currency

Oil rises over two percent

Oil jumped more than 2 percent on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in US-China trade tensions. Brent crude ended the

Published 09 Aug, 2019 12:00am

'All we need from the government is control on under invoicing and smuggling' An interview with Mian Iftikhar Ahmed, Chairman and CEO Panther Tyres

Currency

'All we need from the government is control on under invoicing and smuggling' An interview with Mian Iftikhar Ahmed, Chairman and CEO Panther Tyres

Mian Iftikhar Ahmed is the founder, chairman and chief executive of Panther Tyres Limited. He is the pioneer of Bias tyre and Butyl tube manufacturing in Pakistan and is recognised as one of the leaders and mentors of the local tyre industry. He is also c

Published 09 Aug, 2019 12:00am

'All we need from the government is control on under invoicing and smuggling' An interview with Mian Iftikhar Ahmed, Chairman and CEO Panther Tyres

Currency

'All we need from the government is control on under invoicing and smuggling' An interview with Mian Iftikhar Ahmed, Chairman and CEO Panther Tyres

Mian Iftikhar Ahmed is the founder, chairman and chief executive of Panther Tyres Limited. He is the pioneer of Bias tyre and Butyl tube manufacturing in Pakistan and is recognised as one of the leaders and mentors of the local tyre industry. He is also c

Published 09 Aug, 2019 12:00am

2016 Quetta tragedy: PBC urges government to implement inquiry commission's report

2016 Quetta tragedy: PBC urges government to implement inquiry commission's report

Pakistan Bar Council (PBC) Thursday demanded the government to implement, in letter and spirit, Inquiry Commission report on Quetta tragic incidents, wherein 54 lawyers were martyred and many other got seriously injured. All Pakistan Lawyers Representativ

Published 09 Aug, 2019 12:00am

Heads of missions, envoys briefed about illegal acts of India

Heads of missions, envoys briefed about illegal acts of India

Foreign Minister Shah Mehmood Qureshi Thursday briefed the heads of missions, ambassadors and members of diplomatic corps about the illegal actions of Indian government and urged them to stop New Delhi from committing blatant violations of human rights in

Published 09 Aug, 2019 12:00am

Fuad Hashim assumes charge as acting CEO Smeda

Fuad Hashim assumes charge as acting CEO Smeda

A senior officer of BS-20 from Pakistan Administrative Services (PAS) Fuad Hashim Rabbani has assumed the charge as acting Chief Executive Officer of the Small and Medium Enterprises Development Authority (Smeda).

Published 09 Aug, 2019 12:00am

Reserves decline

Exchange

Reserves decline

The country's total liquid foreign exchange reserves slightly declined by $41 million to stood at $15.02 billion end of the last week. During the week ending August 02, 2019, the State Bank of Pakistan's (SBP) foreign exchange reserves decreased by $38 mi

Published 09 Aug, 2019 12:00am

Zardari condemns arrest of Maryam

Zardari condemns arrest of Maryam

Former president Asif Ali Zardari Thursday condemned Maryam Nawaz's arrest by the National Accountability Bureau (NAB). Talking to the media in the lobby of the Parliament House, he said that things will worsen owing to such moves as any female can now be

Published 09 Aug, 2019 12:00am

Raja Basharat to head 'Punjab Benami Committee'

Raja Basharat to head 'Punjab Benami Committee'

The Punjab Chief Minister Sardar Usman Buzdar has nominated provincial Law Minister Raja Basharat as head of Punjab Benami Committee. As per notification, provincial finance minister will be the deputy head of the committee while chief secretary, ACS, SMB

Published 09 Aug, 2019 12:00am

SBP imposes Rs 184 million penalties on four banks

Exchange

SBP imposes Rs 184 million penalties on four banks

The State Bank of Pakistan (SBP) has imposed over Rs 184 million penalties on four banks in July 2019 for non-compliance of legal or regulatory requirements. The SBP takes supervisory enforcement actions against those institutions that fail to comply with

Published 09 Aug, 2019 12:00am

Sugar sector: MNAs can raise issue through point of order: Umer

Exchange

Sugar sector: MNAs can raise issue through point of order: Umer

Chairman National Assembly Standing Committee on Finance Asad Umer said on Thursday that the government has taken the initiative of taking up competition related issues of sugar sector after a long gap of 9-10 years. During the meeting of National Assembl

Published 09 Aug, 2019 12:00am

NAB official vows to curb menace of corruption

NAB official vows to curb menace of corruption

National Accountability Bureau (NAB) Director Syed Mohammad Hasnain Ahmed Shah has said that NAB is vigorously pursuing to curb the menace of corruption from the society and for the first time in the country's history, influential personalities are being

Published 09 Aug, 2019 12:00am

Partly Facetious: Khanzadehs simply cannot understand analogies

Partly Facetious: Khanzadehs simply cannot understand analogies

"We tend to refer to our experiences that maybe dated to argue in favour of something."

Published 09 Aug, 2019 12:00am

Punjab to regularise illegal housing societies

Punjab to regularise illegal housing societies

The Punjab government has started preparing a plan for regularization of illegal housing societies in the province. In this connection, Punjab Chief Secretary Yousaf Naseem Khokhar chaired a meeting of Punjab Housing and Urban Development Department here

Published 09 Aug, 2019 12:00am

Crackdown on drug peddlers in the offing in Punjab

Crackdown on drug peddlers in the offing in Punjab

The Punjab police with the assistance of the Anti-Narcotics Force (ANF) have decided in principle to launch an aggressive crackdown against drug peddlers across Punjab besides developing an information sharing mechanism for hunting down such elements.

Published 09 Aug, 2019 12:00am

Make Pakistan green by planting trees: CM

Make Pakistan green by planting trees: CM

Punjab Chief Minister Sardar Usman Buzdar on Thursday planted a sapling in Changa Manga under monsoon plantation drive. Some 500 students also planted different trees in the forest park.

Published 09 Aug, 2019 12:00am

'Punjab Spatial Strategy' for sustainable development launched

'Punjab Spatial Strategy' for sustainable development launched

The Urban Unit in collaboration with the Planning & Development Department has launched the Punjab Spatial Strategy - Business Plan of Punjab. The launching ceremony was held under the chair of Punjab Finance Minister Hashim Jawan Bakht on Thursday here a

Published 09 Aug, 2019 12:00am

Government aware of businessmen's problems: Sarwar

Government aware of businessmen's problems: Sarwar

Punjab Governor Chaudhry Muhammad Sarwar has said the government is aware of the problems being faced by the trade and industrial sectors and undertaking every possible step to provide a level-playing field to the business community.

Published 09 Aug, 2019 12:00am

Fuad Hashim assumes charge as acting CEO Smeda

Fuad Hashim assumes charge as acting CEO Smeda

A senior officer of BS-20 from Pakistan Administrative Services (PAS) Fuad Hashim Rabbani has assumed the charge as acting Chief Executive Officer of the Small and Medium Enterprises Development Authority (Smeda).

Published 09 Aug, 2019 12:00am

Raja Basharat to head 'Punjab Benami Committee'

Raja Basharat to head 'Punjab Benami Committee'

The Punjab Chief Minister Sardar Usman Buzdar has nominated provincial Law Minister Raja Basharat as head of Punjab Benami Committee. As per notification, provincial finance minister will be the deputy head of the committee while chief secretary, ACS, SMB

Published 09 Aug, 2019 12:00am

'Chinese water purification system can reduce waterborne diseases'

'Chinese water purification system can reduce waterborne diseases'

Chinese model of water purification system can reduce possibility of waterborne diseases, which are troubling Pakistan's economy up to $1.3 million every year and are the biggest source of gastrointestinal infections.

Published 09 Aug, 2019 12:00am

FIEDMC chief hails decision of suspending trade with India

FIEDMC chief hails decision of suspending trade with India

Business community on Thursday welcoming the government's decision to downgrade diplomatic relations, expelling the Indian High Commissioner and suspending bilateral trade with India in the wake of New Delhi's move of revoking special status for Jammu and

Published 09 Aug, 2019 12:00am

Russian envoy for exploiting huge untapped potential

Russian envoy for exploiting huge untapped potential

The Russian and Pakistani businessmen should exploit the huge untapped potential through strong B2B contacts and joint ventures. Trade Representative of Russian Embassy Yury Kozlov stated this while talking to Vice President of the Lahore Chamber of Comme

Published 09 Aug, 2019 12:00am

NAB official vows to curb menace of corruption

NAB official vows to curb menace of corruption

National Accountability Bureau (NAB) Director Syed Mohammad Hasnain Ahmed Shah has said that NAB is vigorously pursuing to curb the menace of corruption from the society and for the first time in the country's history, influential personalities are being

Published 09 Aug, 2019 12:00am

Partly Facetious: ANJUM IBRAHIM

Partly Facetious: ANJUM IBRAHIM

"We tend to refer to our experiences that maybe dated to argue in favour of something."

Published 09 Aug, 2019 12:00am

FBR to process refund claims through 3 channels on RMS basis

FBR to process refund claims through 3 channels on RMS basis

The Federal Board of Revenue (FBR) will process refund claims through three channels on the basis of Risk management system (RMS) of FBR's Computerized System to divide claimants in three different categories for speedy refund payments. The three refund p

Published 09 Aug, 2019 12:00am

IoK crisis: Council of Pakistan urges US to facilitate direct dialogue

IoK crisis: Council of Pakistan urges US to facilitate direct dialogue

The Council of Pakistan has denounces Indian government's decision to strip Indian occupied Kashmir of its status. The Council also urged The US to facilitate direct dialogue between Pakistan and India on Kashmir issue. The Council on Thursday asked the U

Published 09 Aug, 2019 12:00am

Telenor Pakistan, partners gear up to make 5G network ready

Telenor Pakistan, partners gear up to make 5G network ready

Telenor Pakistan and its network partners have geared up to make the network 5G ready to pass on benefits of this transformative technology to the people of Pakistan in the coming years. The 5G is the fifth-generation cellular network technology that offe

Published 09 Aug, 2019 12:00am

TechAccess Pakistan bags ACS award

TechAccess Pakistan bags ACS award

TechAccess Pakistan (TAP), a regional system integrator and a secure cloud enabler, received the Advanced Customer Services (ACS) ASEAN Best Partner Award by Oracle for the year 2019, during a ceremony held here on Thursday.

Published 09 Aug, 2019 12:00am

Research, innovation & publications: HEC's awards for 52 outstanding scholars

Cotton

Research, innovation & publications: HEC's awards for 52 outstanding scholars

The Higher Education Commission (HEC) has awarded 52 Pakistani researchers and scholars for their outstanding works in spheres of research, innovation and publication during the ceremony of 7th HEC Outstanding Research Awards here on Thursday. Chairman HE

Published 09 Aug, 2019 12:00am

Commercial use of GM seeds to be approved after assessing risk

Commercial use of GM seeds to be approved after assessing risk

Ministry of National Food Security Thursday informed a parliamentary panel that the Ministry of Health intends to undertake detailed risk assessment before giving final approval for commercial use of Genetically Modified (GM) seeds in the country. The iss

Published 09 Aug, 2019 12:00am

Sindh government to allow driving licence to hearing-impaired people

Sindh government to allow driving licence to hearing-impaired people

Sindh department of Empowerment of Persons with Disabilities is taking steps to issue driving license to the hearing-impaired people in order to make them more independent. This was stated by Syed Qasim Naveed Qamar, special assistant to the CM Sindh on t

Published 09 Aug, 2019 12:00am

Information department's performance not up to mark: Saeed Ghani

Information department's performance not up to mark: Saeed Ghani

Sindh Minister for Information & Archives and Labour Saeed Ghani Thursday said the performance of Regional Directorates of the Information Department was not up to the mark when it came to highlighting the soft image or the performance of the Sindh govern

Published 09 Aug, 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

Markets →

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Punjab farmers to receive subsidised agri machinery

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Gold price per tola falls further Rs2,000 in Pakistan

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