News Archives for Print - 2019-09-20

Early trade in New York: dollar mixed, euro higher

The US dollar was mixed on Thursday morning, weaker against the euro, the Swiss franc and the Japanese yen, but stronger versus the Antipodean currencies after a slew of central bank decisions came in more hawkish than expected. The Federal Reserve on Wed

Published 20 Sep, 2019 12:00am

Dollar rises against yen, Swiss franc in New York

The dollar hit a seven-week high against the yen and a three-month peak versus the Swiss franc on Wednesday after the Federal Reserve cut interest rates by a quarter of a percentage point, as expected, but gave an uncertain outlook on future easing and so

Published 20 Sep, 2019 12:00am

UK markets watchdog says research rules saved investors 70 million pounds

New European Union rules to make the cost of stock and bond research more transparent are saving millions of pounds for investors and have not materially cut coverage of smaller firms, Britain's Financial Conduct Authority (FCA) said on Thursday. The EU r

Published 20 Sep, 2019 12:00am

UK markets watchdog says research rules saved investors 70 million pounds

New European Union rules to make the cost of stock and bond research more transparent are saving millions of pounds for investors and have not materially cut coverage of smaller firms, Britain's Financial Conduct Authority (FCA) said on Thursday. The EU r

Published 20 Sep, 2019 12:00am

Currency

Most Asian currencies weaken

Most Asian currencies slipped on Thursday after the US Federal Reserve reined in market expectations of further interest rate cuts and as investors awaited regional central bank policy decisions. The Fed cut interest rates on Wednesday, as expected, to he

Published 20 Sep, 2019 12:00am

South African rand slips

South Africa's rand was slightly weaker on Thursday after the central bank left its main interest rate on hold as expected. At 1403 GMT, the rand was 0.2% weaker and trading at 14.7275 per US dollar, slipping back from gains made in earlier trading. Stock

Published 20 Sep, 2019 12:00am

Currency

Sterling edges higher after BoE decision

The pound edged higher on Thursday after the Bank of England kept policy rates unchanged, as widely expected, with broad dollar weakness lifting the British currency slightly. All nine members of the BoE's Monetary Policy Committee voted to keep rates on

Published 20 Sep, 2019 12:00am

Real slides after Brazil cuts rates to record low

Brazil's real fell to a two-week low on Thursday, underperforming its Latin American peers, as investors assessed the impact of the central bank's decision to cut borrowing costs to an all-time low. The real slid 0.7% and interest rate futures tumbled to

Published 20 Sep, 2019 12:00am

Argentina dollar bondholders will face haircut: Fitch

Fitch Ratings expects holders of Argentina dollar bonds to have to write off part of their investments under the country's sovereign debt restructuring plan, one of the agency's analysts said on Thursday. The Argentine government last month announced plan

Published 20 Sep, 2019 12:00am

Argentina dollar bondholders will face haircut: Fitch

Fitch Ratings expects holders of Argentina dollar bonds to have to write off part of their investments under the country's sovereign debt restructuring plan, one of the agency's analysts said on Thursday. The Argentine government last month announced plan

Published 20 Sep, 2019 12:00am

CBOT soyabean drops on good US weather

Chicago Board of Trade soyabean futures eased on Wednesday on good US crop weather and disappointment over the volume of soyabeans purchased by Chinese importers in a recent wave of buying, traders said. CBOT November soyabeans settled down 5 cents at $8.

Published 20 Sep, 2019 12:00am

Exchange

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,248. The traded value of Metals, Energy and COTS/FX was recorded at PKR 8.218 billion and the numbers of lots traded were 8,816.

Published 20 Sep, 2019 12:00am

Exchange

Paris wheat steady as traders weigh mixed export outlook

Paris wheat futures edged higher on Wednesday, supported by a firm trend in Chicago, as traders assessed a flurry of tenders by importing countries that suggested mixed export prospects for Western European wheat. December milling wheat on the Paris-based

Published 20 Sep, 2019 12:00am

Exchange

US natgas futures fall over demand worries

US natural gas futures fell more than 1% on Wednesday after hitting a five-month peak early in the week as gas followed the falling oil market and demand concerns. Front-month gas futures for October delivery on the New York Mercantile Exchange (NYMEX) fe

Published 20 Sep, 2019 12:00am

Activities at Karachi and Qasim Ports

The Karachi Port handled 94,127 tonnes of cargo comprising 73,641 tonnes of import cargo and 20,486 tonnes of export cargo including 4,859 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargos of 73

Published 20 Sep, 2019 12:00am

Cotton

Cotton prices firm on moderate trade

Prices maintained firm trend on the cotton market on Thursday in the process of moderate trading activity, dealers said. The official spot rate was unchanged at Rs 8650, they added. In ready session, about 15,000 bales of cotton changed hands between Rs 7

Published 20 Sep, 2019 12:00am

Exchange

Chinese iron ore futures fall on higher shipments

Chinese iron ore futures fell for a third straight session on Wednesday, dragged lower by increasing seaborne arrivals at the country's ports and higher shipments from big miners. The most-traded iron ore futures contract on the Dalian Commodity Exchange,

Published 20 Sep, 2019 12:00am

Amazon unveils climate plan, aims to advance Paris goals

Amazon chief Jeff Bezos pledged Thursday the US technology and retail giant would become carbon neutral by 2040 and encourage other firms to do the same, in a bid to help meet the goals of the Paris climate accord 10 years early. "We want to use our scope

Published 20 Sep, 2019 12:00am

Pilot saved from power line after Belgian F-16 crashes in France

An F-16 fighter jet of the Belgian air force crashed Thursday in western France, with both pilots successfully ejecting - but one spent two hours hanging from a power line before being cut down, officials said. Parts from the stricken plane, which was not

Published 20 Sep, 2019 12:00am

Liquidity crunch choking Palestinian economy: World Bank

Despite last month's receipt from Israel of funds it owed, the Palestinian Authority still faces a financing gap that could top $1.8 billion, the World Bank said Thursday. Palestinian president Mahmud Abbas's PA has been in deep financial crisis since Feb

Published 20 Sep, 2019 12:00am

New video emerges of Trudeau wearing blackface makeup

New damning images of Prime Minister Justin Trudeau wearing blackface makeup emerged on Canadian television Thursday, throwing his floundering re-election bid into further disarray. Released by broadcaster Global News, and confirmed to AFP by his campaign

Published 20 Sep, 2019 12:00am

China rebukes Washington after Hong Kong activists make Congress plea

Beijing Thursday accused Washington of "adding fuel to the fire" of Hong Kong unrest after leaders of the city's pro-democracy movement appealed directly to US lawmakers to exert pressure on China. Activists from the semi-autonomous city testified before

Published 20 Sep, 2019 12:00am

Juncker says EU open to dropping 'backstop' from Brexit deal

European Commission chief Jean-Claude Juncker said Thursday that Brussels could drop the so-called "backstop" solution for Brexit's Irish border dilemma if Britain came up with a fail-safe alternative. "If the objectives are met - all of them - we don't n

Published 20 Sep, 2019 12:00am

Netanyahu, Gantz in standoff over Israeli unity government

Israeli Prime Minister Benjamin Netanyahu and his main challenger Benny Gantz were in a standoff over calls for a unity government on Thursday as election results put the premier's long tenure at risk. In a major development following Tuesday's polls, Net

Published 20 Sep, 2019 12:00am

Germany targets Airbus in military spying probe

German authorities on Thursday were looking into how Airbus employees came to see confidential military documents, the latest in a series of scandals to hit the aerospace giant. Munich prosecutors "are investigating 17 named suspects and further thus far

Published 20 Sep, 2019 12:00am

UAE follows: Saudi Arabia in joining US-led Gulf flotilla

The United Arab Emirates followed Saudi Arabia Thursday in joining a US-led force to protect Gulf shipping as tensions with Iran soared following twin attacks on key Saudi oil facilities. The United States has pushed for the creation of the International

Published 20 Sep, 2019 12:00am

Russia, China veto UN resolution on Syria ceasefire

Russia and China on Thursday vetoed a UN Security Council resolution calling for a ceasefire in Syria's war-torn Idlib province after other members warned the conflict could become the century's worst humanitarian crisis. During negotiations on the draft,

Published 20 Sep, 2019 12:00am

Currency

Raw sugar futures up, arabica coffee weakens

Raw sugar futures on ICE were slightly higher on Thursday, supported partly by gains in crude oil, while arabica coffee prices fell as Brazil's currency weakened. October raw sugar was up 0.04 cents, or 0.4%, at 11.04 cents per lb by 1420 GMT. Dealers sai

Published 20 Sep, 2019 12:00am

Exchange

Copper declines on weak demand and a guarded Fed

Copper prices eased on Thursday as the market focused on weak demand in top consumer China and a meeting in Washington between Chinese and US officials aimed at resolving a prolonged trade dispute. Benchmark copper on the London Metal Exchange was untrade

Published 20 Sep, 2019 12:00am

Brent rises 1 percent as Saudi supply risks come into focus

Brent crude oil prices rose more than 1% on Thursday on fears of longer-than-expected supply shortfalls following Saturday's attacks on a key Saudi Arabian oil processing facility and escalating tensions in the Middle East. Global benchmark Brent settled

Published 20 Sep, 2019 12:00am

Vegetable Oil

Palm oil extends losses

Malaysian palm oil futures extended losses on Thursday due to a drop in related vegetable oils and weak exports, though a weaker ringgit restricted the downside. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Excha

Published 20 Sep, 2019 12:00am

Currency

Gold little changed in Asia

Gold prices were little changed on Thursday after a sharp fall in the previous session as a lack of clarity in the US Federal Reserve's monetary policy outlook kept investors cautious. The Fed lowered interest rates for a second time this year in a 7-3 vo

Published 20 Sep, 2019 12:00am

Gold rises in Europe

Gold prices gained on Thursday, helped by a weaker dollar and as investors looked for clarity on future US interest rates after the Federal Reserve on Wednesday signaled a higher bar to further reductions in borrowing costs. Spot gold was up 0.2% to $1,49

Published 20 Sep, 2019 12:00am

Cotton

Cotton falls as China cancels orders, bumper crop forecast

Cotton prices inched down on Thursday as top consumer China canceled orders of US fiber and on forecast for a bumper harvest, although losses were limited by data showing higher US export sales. Cotton contracts for December settled down 0.17 cent, or 0.2

Published 20 Sep, 2019 12:00am

Exchange

Tokyo rubber tracks weakness in Shanghai futures

Tokyo Commodity Exchange (TOCOM) futures edged lower on Thursday, tracking weakness in Shanghai futures. The benchmark TOCOM rubber contract for February delivery finished 0.5 yen ($0.0046) lower at 169.8 yen per kg. The most-active rubber contract on the

Published 20 Sep, 2019 12:00am

Palladium hits all-time high

Palladium peaked to an all-time high on Thursday, while gold gained on a weaker dollar and as investors looked for clarity on future US interest rates after the Federal Reserve on Wednesday signaled a higher bar to further monetary easing. Spot gold rose

Published 20 Sep, 2019 12:00am

Minister hints at amendments in KPT Act

Federal Minister for Maritime Affairs Syed Ali Haider Zaidi has said that shipping has been classified a strategic industry and newly registered vessels in Pakistan would be given more incentives including tax exemptions till 2030.

Published 20 Sep, 2019 12:00am

Exchange

$5 hike in oil price to push up oil import bill by $1.25 billion: PBIF

Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has expressed concern that an increase of five dollars in world oil price will increase oil import bill by $1.25 billion as Pakistan's 26 percent imports are oil-based.

Published 20 Sep, 2019 12:00am

Debrief session of war game, Shamsheer-e-Bahr-VII held

The debrief session of Pakistan Navy's war game SHAMSHEER-E-BAHR VII and Logistic Exercise TARSEEL-E-BAHAR II was held at Karachi. Chief of the Naval Staff, Admiral Zafar Mahmood Abbasi graced the occasion as Chief Guest.

Published 20 Sep, 2019 12:00am

Cotton

SC to hear GIDC case on daily basis from October 22

The Supreme Court on Thursday said that it will hear the gas infrastructure development cess (GIDC) case on daily basis from October 22 and no adjournment would be allowed.

Published 20 Sep, 2019 12:00am

Cotton

SC to hear GIDC case on daily basis from October 22

The Supreme Court on Thursday said that it will hear the gas infrastructure development cess (GIDC) case on daily basis from October 22 and no adjournment would be allowed.

Published 20 Sep, 2019 12:00am

'Silt deposited in Tarbela has caused loss of 8,000km2 land along delta' An interview with Dr Hasan Abbas, UNESCO Water Chair at COMSATS University

Dr Abbas holds a PhD in Hydrology and Water Resources from Michigan State University, USA; and a Masters in Hydrogeology and Groundwater Management from University of Technology, Sydney. His career in hydrology has taken him across various regions such as

Updated 20 Sep, 2019 07:05am

'Silt deposited in Tarbela has caused loss of 8,000km2 land along delta' An interview with Dr Hasan Abbas, UNESCO Water Chair at COMSATS University

Dr Abbas holds a PhD in Hydrology and Water Resources from Michigan State University, USA; and a Masters in Hydrogeology and Groundwater Management from University of Technology, Sydney. His career in hydrology has taken him across various regions such as

Published 20 Sep, 2019 12:00am

Hyundai Nishat Motor signs MoU with AkzoNobel Pakistan

AkzoNobel Pakistan and Hyundai Nishat Motor (Private) Limited (HNMPL) signed a Memorandum of Understanding (MOU) on September 13, 2019, in Lahore. Under the signed MoU, AkzoNobel Pakistan, the exclusive partner of Nihon Parkerizing in Pakistan will be pro

Published 20 Sep, 2019 12:00am

Deaths of four cancer patients: PA speaker asks Dr Yasmeen to form inquiry committee

Expressing sympathies with the cancer patients, Speaker Punjab Assembly Chaudhry Pervaiz Elahi has asked the Punjab Health Minister Dr Yasmeen Rashid, to form an inquiry committee to look into the matter of non-provision of medicines to the cancer patient

Published 20 Sep, 2019 12:00am

Century Insurance, Askari Bank sign Agri Credit Insurance agreement

Century Insurance has signed Agri Credit Insurance agreement with Askari Bank Ltd at the Mall Road branch of the bank on Thursday. Century Insurance would provide the facility of insurance on agricultural loans, crops and machinery to the bank.

Published 20 Sep, 2019 12:00am

Sarwar slams opposition over 'reckless politics of emotion'

Governor Punjab Ch. Muhammad Sarwar Thursday said that the opposition should refrain from 'reckless politics of emotions' as the country cannot afford lockdown and protest movement at this point of time.

Published 20 Sep, 2019 12:00am

Sanofi participates in reconstruction of Naunehal Academy School

Sanofi Pakistan proudly participated in the formal inauguration of Naunehal Academy School & Polio Resource Centre Project in Islamia Colony, Karachi.

Published 20 Sep, 2019 12:00am

CM raps Indian government for following policy of stubbornness

Punjab chief minister Sardar Usman Buzdar has said that worst-ever human tragedy of the century is expected to happen in the Occupied Kashmir as, unfortunately, the Indian government is following a policy of stubbornness.

Published 20 Sep, 2019 12:00am

Shahbaz meets Nawaz in Kot Lakhpat jail

Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif met former premier Nawaz Sharif in Kot Lakhpat Jail and discussed various political and other matters including proposed Islamabad March, increasing number of dengue cases and Chunian incident.

Published 20 Sep, 2019 12:00am

FCCI elects its office-bearers

Rana Sikandar Azam, Zafar Iqbal Sarwar and Bilal Waheed were elected FCCI President, Senior Vice President and Vice President respectively for the year 2019-20.

Published 20 Sep, 2019 12:00am

Flood protection related projects: Punjab to get Rs 881.626 million through NDRMF by Centre

The federal government through National Disaster Risk Management Fund (NDRMF) will provide Rs 881.626 million to Punjab government for flood protection related projects.

Published 20 Sep, 2019 12:00am

Shafqat visits TCF

Federal Minister for Education and Professional Training Shafqat Mehmood visited The Citizens Foundation (TCF), Head Office where he met with the Founding Members and Senior Management of TCF. The purpose of the visit was to introduce Shafqat Mehmood to T

Published 20 Sep, 2019 12:00am

Gas supply normalised in city

SSGC categorically dispels the impression created in the media that a low gas pressure situation has developed over the past several days that has severely impacted the supply of gas particularly to the industries in Karachi.

Published 20 Sep, 2019 12:00am

Partly Facetious: Another PPP wicket falls

"Khursheed Shah has been picked up by NAB, the second opening batsman wicket to fall for the PPP."

Updated 20 Sep, 2019 08:14am

Pakistan among 41 countries need external aid for food: UN report

Some 41 countries including Pakistan continue to be in need of external assistance for food, with conflicts acting as the primary cause of high levels of food insecurity and adverse weather conditions - particularly rainfall shortages in Africa - acutely

Published 20 Sep, 2019 12:00am

Exchange

Pakistan achieves mango export target after five years

Pakistan has attained the mango export target after five years and achieved a record export volume of 115,000 metric tonnes during this season supported by high standard and aggressive marketing. Exporters said that Pakistani mango managed to get better p

Published 20 Sep, 2019 12:00am

Coal transporters continue facing hurdles

Port Qasim Authority (PQA), the prime handler of imported coal is not paying any attention on smooth transportation of this commodity, transporters said.

Published 20 Sep, 2019 12:00am

Exchange

Uzbek delegation visits LCCI

Two-way trade volume can be doubled between Uzbekistan and Pakistan with joint efforts, strengthening of contacts between the businessmen of the two countries and exchange of business delegations. Mayor of the Namangan City Uzbekistan Shavkat Abdurazakov

Published 20 Sep, 2019 12:00am

FFC signs MoU with Al Khidmat Foundation

Fauji Fertilizer Company (FFC) and Al Khidmat Foundation have signed a memorandum of understanding (MOU) in a ceremony held at FFC Head Office to collaborate towards a food secure Pakistan. The ceremony was presided over by CE & MD FFC, Lieutenant General

Published 20 Sep, 2019 12:00am

'e-Court/Video Link; CJP inaugurates new website of SC Research Centre

Chief Justice of Pakistan Asif Saeed Khan Khosa on Thursday inaugurated e-Court/Video Link, new website of Supreme Court and SC Research Centre. The Chief Justice introduced the litigant-friendly initiatives towards transformation of the Supreme Court of

Published 20 Sep, 2019 12:00am

NA body asks CDA, MCI to resolve issues forthwith

The National Assembly Standing Committee on Interior Thursday asked Capital Development Authority (CDA) and Metropolitan Corporation Islamabad (MCI) to resolve their issues forthwith with a view to address problems of residents of the federal capital.

Published 20 Sep, 2019 12:00am

FPCCI to present three-year roadmap, economic plan

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has announced to prepare and present 3 years roadmap and economic plan to the government for the economic revival. This has been announced during a high powered meeting of FPCCI senior membe

Published 20 Sep, 2019 12:00am

Raising standard of education: four-year bachelor degree programme being mulled: Shafqat

The federal government is working on introducing 4-year bachelor's degree programme to raise the standards of education in the country to make it relevant to international requirements, said Shafqat Mahmood, Federal Minister for Education and Professional

Published 20 Sep, 2019 12:00am

Zafar elected soap makers' association chief

Zafar Mahmood of M/s Nimir Industrial Chemicals Limited, Lahore has been elected unopposed as Chairman Pakistan Soap Manufacturers Association. Annual election of Pakistan Soap Manufacturers Association was held according to Rules of Trade Organization 20

Published 20 Sep, 2019 12:00am

Cop, two dacoits killed in encounter

A policeman embraced martyrdom while two alleged dacoits were killed in an armed clash between the policemen and dacoits at Nazimabad No 3 near Eid Gah Ground within the limits of Nazimabad police station, here on Thursday. Two motorcycle riders policemen

Published 20 Sep, 2019 12:00am

NAB raids house of ex-DG Parks

The National Accountability Bureau (NAB) Thursday raided the house of former DG Parks Liaquat Qaimkhani here. Qaimkhani was taken into custody on September 18, 2019 in Bagh Ibn-e-Qasim case and has been accused of awarding fake contracts as DG Parks in th

Published 20 Sep, 2019 12:00am

US companies urged to explore opportunities in Pakistan

Minister for Privatization, Mohammedmian Soomro has urged upon the reputed US companies to explore the new investment-friendly business environment in Pakistan for lucrative investments in the country. The Minister, who is currently visiting United States

Published 20 Sep, 2019 12:00am

WWF-Pakistan organises climate marches today

WWF-Pakistan is supporting the citizen led initiative "ClimateActionPk" along with its Goodwill Ambassadors, partners, environmentalists and activists, is encouraging masses across the country to join hands for the first nationwide Climate March on 20 Sep

Published 20 Sep, 2019 12:00am

Illegal allotment of KPT land: SHC orders NAB to file reference against Kamran Michael

The Sindh High Court (SHC) on Thursday ordered National Accountability Bureau (NAB) to file reference against Kamran Michael, former Federal Minister for Ports & Shipping in allegedly illegal allotment of Karachi Port Trust (KPT) land by October 4, 2019.

Published 20 Sep, 2019 12:00am

Controversial video KP governor removes VC Bannu university

Khyber Pakhtunkhwa Shah Farman on Thursday took notice of a controversial vulgar social media video about Vice Chancellor Bannu University Abid Ali Shah and removed him from the important position and ordered inquiry against him.

Published 20 Sep, 2019 12:00am

Ruckus mars NA proceedings

Ruckus dominated the proceedings of National Assembly (NA) on Thursday over the speaker's refusal to give floor to Pakistan Muslim League-Nawaz (PML-N) lawmaker Ahsan Iqbal as outraged members from the opposition benches gathered in front of the speaker's

Published 20 Sep, 2019 12:00am

Gold prices surge by Rs150

Gold on Thursday was closed at Rs87250 per tola with Rs150 increase on the local market, according to traders. The yellow metal was traded for $1503 an ounce with $1 increase on the world market that drove its prices to Rs74803 per 10 grams by Rs120 up. S

Published 20 Sep, 2019 12:00am

NAB summons Sindh CM on September 24

National Accountability Bureau (NAB) has summoned Sindh Chief Minister Murad Ali Shah to appear before its combined investigation team (CIT) on September 24, in connection with the fake bank accounts case. Sources said that the NAB has asked chief ministe

Published 20 Sep, 2019 12:00am

Fake bank accounts case: AC to indict Zardari, Talpur & others on October 4

The Accountability Court hearing the multibillion rupees fake bank accounts case on Thursday set October 4 for indictment of former president Asif Ali Zardari, Pakistan Peoples Party (PPP) leader Faryal Talpur and other accused in the mega money launderin

Published 20 Sep, 2019 12:00am

PPP, PML-N lawmakers stage sit-in against NAB 'victimization'

The lawmakers belonging to Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP) on Thursday staged a protest outside the Parliament House against, what they called, 'victimization' of opposition leaders by National Accountability Bureau (

Published 20 Sep, 2019 12:00am

Exchange

Reserves up by $146 million

The country's total liquid foreign exchange reserves rose by $146 million to $15.898 billion at the end of last week. During the week ending September 13, 2019, the State Bank of Pakistan's foreign exchange reserves increased by $ 138 million to $ 8.6 bil

Published 20 Sep, 2019 12:00am

OGDCL declares 50 percent growth in earnings YoY

The Oil & Gas Development Company (OGDCL) has announced 50 percent year-on-year growth in financial year 2019 as it announced earnings of Rs 118,386 million (Rs 27.53 per share) for financial year 2019, higher by 50 percent as compared to the preceding ye

Published 20 Sep, 2019 12:00am

ZTBL collaborates with GB government to alleviate poverty

Zarai Taraqiati Bank Limited (ZTBL) and Government of Gilgit-Baltistan have signed a Memorandum of Understanding focusing on to mitigate poverty and to positively contribute to develop synergies, which will ultimately lead to food security and economic up

Published 20 Sep, 2019 12:00am

Disease surveillance systems: UK to invest over £2.7 million in Pakistan

The British government has expanded its partnership with Pakistan to tackle the growing threat of antibiotic resistance in the country and will invest more than £2.7 million to strengthen disease surveillance systems and improve laboratory infrastructure.

Published 20 Sep, 2019 12:00am

'The Constitution and its guardians'

In his yesterday's op-ed for Business Recorder titled "The Constitution and its guardians," Shabir Ahmed has plausibly argued that "Despondency, the flip side of defeatism, has a hollowing out effect on the nation. Inherent in every dictate of the

Updated 20 Sep, 2019 07:34am

Real crunch from Saudi Arabia's oil outage has yet to be felt

Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say.

Updated 20 Sep, 2019 06:05am

Exchange

Brewing oil crisis: what should be our policy response?

The enormity of the attacks on Saudi Arabia's oil installations could be gauged from two key facts: a) according to Bloomberg, 'Brent futures rising 19% in the matter of seconds at the open on Monday [September 16- the first day the markets opened after t

Updated 20 Sep, 2019 07:11am

For the love of one's country

Human beings are not surprisingly, attached to the place of their birth, no matter how advanced or how backward it might be but sometimes under pressing circumstances they are forced to migrate and settle in foreign lands.

Updated 20 Sep, 2019 06:45am

Afghan conundrum

What a bitter twist of history - peace in the war-ravaged Afghanistan that appeared to be close only a week ago is nowhere in sight today. The peace deal with Taliban was already initialed and President Trump was ready to host them at the Camp David. But

Updated 20 Sep, 2019 06:04am

Exchange

Urgency of reforms

During the recent Cabinet meeting the need to provide relief to the general public in the wake of rising inflationary pressures was discussed. The rise in inflationary pressures this year in marked contrast to the year before strengthens the opposition an

Updated 20 Sep, 2019 06:27am

Second Edition of 'IRIS' portal 'Maloomat' launched

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi said on Thursday that FBR has launched the 2nd Edition of 'IRIS' portal 'Maloomat' (tax profiling system), containing data of 53 million citizens, giving access to the filers and non-filers to the info

Published 20 Sep, 2019 12:00am

Second Edition of 'IRIS' portal 'Maloomat' launched

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi said on Thursday that FBR has launched the 2nd Edition of 'IRIS' portal 'Maloomat' (tax profiling system), containing data of 53 million citizens, giving access to the filers and non-filers to the info

Updated 20 Sep, 2019 08:22am

Supplementary grants: Bill seeking restriction on government opposed by MoF

Finance Ministry has opposed a bill seeking a restriction on the federal government to take approval of the National Assembly before releasing supplementary grants except in case of external aggression or internal disturbance leading to proclamation of em

Published 20 Sep, 2019 12:00am

Supplementary grants: Bill seeking restriction on government opposed by MoF

Finance Ministry has opposed a bill seeking a restriction on the federal government to take approval of the National Assembly before releasing supplementary grants except in case of external aggression or internal disturbance leading to proclamation of em

Published 20 Sep, 2019 12:00am

Huawei in public test as it unveils sanction-hit phone

Chinese tech giant Huawei launched its latest high-end smartphone in Munich on Thursday, the first of its mobile devices not to carry popular Google apps because of US sanctions. "Today because of the US ban... we cannot pre-install" Google's applications

Published 20 Sep, 2019 12:00am

Huawei in public test as it unveils sanction-hit phone

Chinese tech giant Huawei launched its latest high-end smartphone in Munich on Thursday, the first of its mobile devices not to carry popular Google apps because of US sanctions. "Today because of the US ban... we cannot pre-install" Google's applications

Published 20 Sep, 2019 12:00am

Removal of Sukhera as FTO: IHC sets aside government''s notification

The Islamabad High Court (IHC) on Thursday set aside the federal government''s notification regarding removal of Muhstaq Ahmad Sukhera as Federal Tax Ombudsman (FTO). Former Inspector General (IG) of Police, Punjab, Mushtaq Sukhera was appointed FTO in Au

Published 20 Sep, 2019 12:00am

Removal of Sukhera as FTO: IHC sets aside government's notification

The Islamabad High Court (IHC) on Thursday set aside the federal government's notification regarding removal of Muhstaq Ahmad Sukhera as Federal Tax Ombudsman (FTO). Former Inspector General (IG) of Police, Punjab, Mushtaq Sukhera was appointed FTO in Aug

Published 20 Sep, 2019 12:00am

Removal of Sukhera as FTO: IHC sets aside government's notification

The Islamabad High Court (IHC) on Thursday set aside the federal government's notification regarding removal of Muhstaq Ahmad Sukhera as Federal Tax Ombudsman (FTO). Former Inspector General (IG) of Police, Punjab, Mushtaq Sukhera was appointed FTO in Aug

Updated 20 Sep, 2019 09:37am

Accountability (amendment) law passed by Senate body

The Senate Standing Committee on Law and Justice on Thursday unanimously passed the National Accountability (Amendment) Act 2019 moved by Pakistan People's Party (PPP) stalwart Farooq Naek as a private member bill, which seeks to amend the National Accoun

Published 20 Sep, 2019 12:00am

Accountability (amendment) law passed by Senate body

The Senate Standing Committee on Law and Justice on Thursday unanimously passed the National Accountability (Amendment) Act 2019 moved by Pakistan People's Party (PPP) stalwart Farooq Naek as a private member bill, which seeks to amend the National Accoun

Published 20 Sep, 2019 12:00am

Ben Ali dies

Former Tunisian president Zine El Abidine Ben Ali, the first leader to be toppled by the Arab Spring revolts, died Thursday in Saudi Arabia, Tunisia's foreign ministry told AFP. "We had confirmation of his death 30 minutes ago," the ministry said, without

Published 20 Sep, 2019 12:00am

Ben Ali dies

Former Tunisian president Zine El Abidine Ben Ali, the first leader to be toppled by the Arab Spring revolts, died Thursday in Saudi Arabia, Tunisia's foreign ministry told AFP. "We had confirmation of his death 30 minutes ago," the ministry said, without

Published 20 Sep, 2019 12:00am

'Tax Asaan' app doesn't make things easier

The 'Tax Asaan' mobile app, which has been launched by Federal Board of Revenue (FBR) to facilitate salaried individuals to enroll with tax system, is not serving the purpose due to non-availability of new-registration option. According to details, the "T

Published 20 Sep, 2019 12:00am

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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