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Print - 2019-10-14
Are US-Chinese tariffs on almost everything the 'new normal'?
Articles

Are US-Chinese tariffs on almost everything the 'new normal'?

US President Donald Trump called his Phase 1 trade deal with China "by far, the greatest and biggest deal ever made," even though nothing was agreed on paper, and most of the tariffs set upon Chinese goods remain in place. While he lauded China for agreei
Updated 15 Oct, 2019 11:55am
THE RUPEE: Upward trend

THE RUPEE: Upward trend

On the back of slow demand for dollars, the rupee appreciated sharply against the dollar on the money market during the week, ended on October 12, 2019.
Updated 16 Oct, 2019 06:17am
Khamenei says any aggressor would regret attacking Iran

Khamenei says any aggressor would regret attacking Iran

Iranian Supreme Leader Ayatollah Ali Khamenei said on Sunday that US-allied Gulf Arab States were "under the will of the United States" and warned that any attacker would regret taking action against Iran, according to state television.
Published 14 Oct, 2019 12:00am
We're ready to act as 'facilitator', PM tells Rouhani
General News

We're ready to act as 'facilitator', PM tells Rouhani

Prime Minister Imran Khan Sunday reiterated that Pakistan was ready to act as facilitator between the brotherly Muslim countries Iran and Saudi Arabia to sort out their differences through dialogue. Addressing a joint press stakeout along with Iranian Pre
Published 14 Oct, 2019 12:00am
We're ready to act as 'facilitator', PM tells Rouhani

We're ready to act as 'facilitator', PM tells Rouhani

Prime Minister Imran Khan Sunday reiterated that Pakistan was ready to act as facilitator between the brotherly Muslim countries Iran and Saudi Arabia to sort out their differences through dialogue. Addressing a joint press stakeout along with Iranian Pre
Published 14 Oct, 2019 12:00am
Export data to be critically examined today
Cotton & Textile

Export data to be critically examined today

Prime Minister's Advisor on Commerce, Textile, Industries, Production and Investment, Abdul Razak Dawood has convened a third meeting of State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and Pakistan Bureau of Statistics (PBS) on Monday (today)
Updated 14 Oct, 2019 09:19am
Export data to be critically examined today

Export data to be critically examined today

Prime Minister's Advisor on Commerce, Textile, Industries, Production and Investment, Abdul Razak Dawood has convened a third meeting of State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and Pakistan Bureau of Statistics (PBS) on Monday (today)
Published 14 Oct, 2019 12:00am
Modi says IloK situation will normalise in four months
General News

Modi says IloK situation will normalise in four months

Indian Prime Minister Narendra Modi on Sunday said it would take four months for occupied Jammu and Kashmir to return to normal after his government stripped the state of its special status in August and imposed harsh restrictions. At a rally in the weste
Published 14 Oct, 2019 12:00am
Modi says IloK situation will normalise in four months

Modi says IloK situation will normalise in four months

Indian Prime Minister Narendra Modi on Sunday said it would take four months for occupied Jammu and Kashmir to return to normal after his government stripped the state of its special status in August and imposed harsh restrictions. At a rally in the weste
Published 14 Oct, 2019 12:00am
Bullish sentiments prevail

Bullish sentiments prevail

Bullish trend continued on Pakistan Stock Exchange during the outgoing week ended on October 11, 2019 on the back of healthy buying in almost all sectors. BRIndex100 gained 155.25 points on week-on-week basis to close at 3,631.13 points. Average daily tra
Published 14 Oct, 2019 12:00am
Bullish sentiments prevail
Stocks

Bullish sentiments prevail

Bullish trend continued on Pakistan Stock Exchange during the outgoing week ended on October 11, 2019 on the back of healthy buying in almost all sectors. BRIndex100 gained 155.25 points on week-on-week basis to close at 3,631.13 points. Average daily tra
Updated 14 Oct, 2019 09:17am
Futures spread down by 58 basis points
Stocks

Futures spread down by 58 basis points

The futures spread decreased by 58bps to negative 6.22 percent on the last day of the week. Trading activities on the futures counter improved as average daily volumes increased by 48.7 percent to 106.26 million shares as compared to previous week's avera
Updated 14 Oct, 2019 09:17am
Futures spread down by 58 basis points

Futures spread down by 58 basis points

The futures spread decreased by 58bps to negative 6.22 percent on the last day of the week. Trading activities on the futures counter improved as average daily volumes increased by 48.7 percent to 106.26 million shares as compared to previous week's avera
Published 14 Oct, 2019 12:00am
Pentagon chief vows to cooperate with impeachment probe
General News

Pentagon chief vows to cooperate with impeachment probe

US Defense Secretary Mark Esper said Sunday the Pentagon would cooperate with the congressional impeachment inquiry - in an apparent break with President Donald Trump's policy to thwart the probe. Esper said his department would try to comply with a subpo
Published 14 Oct, 2019 12:00am
Team leaves for Paris to attend FATF meeting
Money & Banking

Team leaves for Paris to attend FATF meeting

Pakistani delegation Sunday flew for Paris (France) to attend Financial Action Task Force (FATF) Plenary meeting that would take up Pakistan's progress on Anti-Money Laundering (AML)/ Combating Financing of Terrorism (CFT) today (Monday).
Updated 14 Oct, 2019 08:48am
Team leaves for Paris to attend FATF meeting

Team leaves for Paris to attend FATF meeting

Pakistani delegation Sunday flew for Paris (France) to attend Financial Action Task Force (FATF) Plenary meeting that would take up Pakistan's progress on Anti-Money Laundering (AML)/ Combating Financing of Terrorism (CFT) today (Monday).
Published 14 Oct, 2019 12:00am
US auto workers go on strike against Mack
Global Business Economy

US auto workers go on strike against Mack

More than 3,600 members of the United Auto Workers went on strike Sunday against Mack Truck, a subsidiary of AB Volvo, as the union's strike against General Motors Co. continued. The new walkout hit Mack Truck plants in Pennsylvania, Maryland and Florida.
Updated 14 Oct, 2019 06:52am
US auto workers go on strike against Mack

US auto workers go on strike against Mack

More than 3,600 members of the United Auto Workers went on strike Sunday against Mack Truck, a subsidiary of AB Volvo, as the union's strike against General Motors Co. continued. The new walkout hit Mack Truck plants in Pennsylvania, Maryland and Florida.
Published 14 Oct, 2019 12:00am
RLNG power plants: PM asks PC to resolve issues
Energy

RLNG power plants: PM asks PC to resolve issues

Prime Minister Imran Khan has directed the Privatisation Commission to resolve issues of RLNG power plants at the Economic Coordination Committee (ECC) of the Cabinet for smooth privatisation of both plants, well-informed sources told Business Recorder
Updated 14 Oct, 2019 08:51am
RLNG power plants: PM asks PC to resolve issues

RLNG power plants: PM asks PC to resolve issues

Prime Minister Imran Khan has directed the Privatisation Commission to resolve issues of RLNG power plants at the Economic Coordination Committee (ECC) of the Cabinet for smooth privatisation of both plants, well-informed sources told Business Recorder
Published 14 Oct, 2019 12:00am
Nepal pushes to end dependency on India
Global Business Economy

Nepal pushes to end dependency on India

Chinese President Xi Jinping wound up two days of meetings in Nepal on Sunday with separate deals for a rail link to Tibet and a tunnel, an official said, as the Himalayan nation seeks to end an Indian dominance over its trade routes by increasing connect
Updated 14 Oct, 2019 06:32am
Nepal pushes to end dependency on India

Nepal pushes to end dependency on India

Chinese President Xi Jinping wound up two days of meetings in Nepal on Sunday with separate deals for a rail link to Tibet and a tunnel, an official said, as the Himalayan nation seeks to end an Indian dominance over its trade routes by increasing connect
Published 14 Oct, 2019 12:00am
William, Kate to undertake visit today
General News

William, Kate to undertake visit today

Their Royal Highnesses, the Duke and Duchess of Cambridge Prince William and Kate Middleton will undertake an official visit to Pakistan from today (Monday) to October 18 (Friday), at the request of The Foreign and Commonwealth Office.
Published 14 Oct, 2019 12:00am
William, Kate to undertake visit today

William, Kate to undertake visit today

Their Royal Highnesses, the Duke and Duchess of Cambridge Prince William and Kate Middleton will undertake an official visit to Pakistan from today (Monday) to October 18 (Friday), at the request of The Foreign and Commonwealth Office.
Published 14 Oct, 2019 12:00am
Pakistan's ranking drops

Pakistan's ranking drops

Pakistan's ranking in the Global Competitiveness Index tabulated by the World Economic Forum dropped from 107 in 2018 to 110 during 2019 out of a total of 141 countries - a drop that critics of the present government claim reflects flawed fiscal and monet
Updated 14 Oct, 2019 06:35am
Who stole Gandhi's ashes?

Who stole Gandhi's ashes?

As the world was celebrating M K Gandhi's 150th birth anniversary early this month someone broke into Bapu Bhavan, stole the urn containing his ashes and defaced his portraits. Gandhi was assassinated in 1948 by an extremist Hindu named Nathuram Godse, wh
Updated 14 Oct, 2019 06:35am
Over-correction is bad economics
Articles

Over-correction is bad economics

The day the Khan administration took over the reins of government on 20 August 2018 the budget deficit was under 6 percent of Gross Domestic Product (not at a danger level though it required belt tightening) while the current account deficit was a little
Updated 14 Oct, 2019 05:23am
Joint television channel
Articles

Joint television channel

Voice is power. The loudest and the most repetitive voices induce influence and action. In a world spilling with messages, advertisements, breaking news, statements, the mind is overloaded with information it can barely register and hardly remember. With
Updated 14 Oct, 2019 05:34am
Down on the farm, Brexit casts its shadow
Articles

Down on the farm, Brexit casts its shadow

On the face of it, Ellie Woodcock's organic farm two hours south of London shouldn't be affected by Britain's impending departure from the European Union. "We don't export anything, so that wouldn't affect my farm. We sell very much directly to the Englis
Updated 14 Oct, 2019 06:15am
Pakistanis holding properties in UAE
Letters

Pakistanis holding properties in UAE

FBR chairman Shabbar Zaidi's latest tweet seems to have created a considerable controversy. In other words, it has generated a new debate on PTI government's claims in relation to tax to GDP ratio in the country. He has said, "We are pleased to inform tha
Updated 14 Oct, 2019 06:11am
Over 70 percent garbage lifted, claims CM
General News

Over 70 percent garbage lifted, claims CM

Sindh Chief Minister Syed Murad Ali Shah said over 282,000 tons or around 70 percent garbage backlog has been taken away while the remaining 30 percent will be cleared by October 21. The CM stated this on Sunday while talking to the media at KDA Roundabou
Published 14 Oct, 2019 12:00am
Firdous holds past rulers responsible for price hike
General News

Firdous holds past rulers responsible for price hike

Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Sunday said that the past rulers were responsible for making price hike in the country because of the large scale corruption and loot of national exchequer as a r
Published 14 Oct, 2019 12:00am
Fawad urges JUI-F chief to refrain from creating chaos
General News

Fawad urges JUI-F chief to refrain from creating chaos

Federal Minister for Science and Technology Fawad Chaudhry on Sunday urged Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Fazlur Rehman to desist from creating chaos in the country. "PML-N was indulged in fighting, but now it has officially split into two groups
Published 14 Oct, 2019 12:00am
SSUET entry test
General News

SSUET entry test

Over 3,000 candidates appeared in the entry test for the Bachelor's Degree Programme in 14 disciplines at the Sir Syed University of Engineering and Technology (SSUET) for the academic year 2020, at Karachi Expo Centre.
Published 14 Oct, 2019 12:00am
PML-N asks workers to prepare for Azadi March
General News

PML-N asks workers to prepare for Azadi March

Pakistan Muslim League-N has instructed its workers to start preparations for participation in Azadi march on October 27 under the aegis of Jamiat Ulema-i-Islam (JUI-Fazl). Addressing a press conference at Peshawar Press Club here on Sunday, the PML-N pro
Published 14 Oct, 2019 12:00am
Fazl warns government against use of force
General News

Fazl warns government against use of force

Jamiat Ulema-e-Islam Fazl (JUI-F) chief Maulana Fazlur Rehman on Sunday warned the government to avoid use of force to create hurdles in way of Azadi March on 27 October However, the JUI-F chief assured that the march will be peaceful. The JUI-f party wor
Published 14 Oct, 2019 12:00am
Prices of essential food items witness slight change

Prices of essential food items witness slight change

Prices of most of the essential commodities remained unchanged during last week, except a slight increase in rates of flour, sugar, fruits in proceeding week, as compared to last week, according to survey conducted by Business Recorder here on Sund
Published 14 Oct, 2019 12:00am
Perveen Sarwar starts awareness campaign for polio, dengue
General News

Perveen Sarwar starts awareness campaign for polio, dengue

Wife of Governor Punjab Perveen Sarwar has kicked off awareness campaign for polio and dengue and arranged free medical camp for dengue effected patients. She said that more polio and dengue prevention medical camps will be arranged and awareness seminars
Published 14 Oct, 2019 12:00am
KP to impose excise duty on minerals
Taxes

KP to impose excise duty on minerals

The government of Khyber Pakhtunkhwa is going to impose excise duty on certain minerals to finance measures for promoting the welfare of mines labourers. The excise duty will be levied at the rate of Rs 3 to Rs 7 per ton on 74 minerals produced in the pro
Updated 14 Oct, 2019 08:47am
Parliamentary team attends IPU Assembly in Belgrade
General News

Parliamentary team attends IPU Assembly in Belgrade

Speaker National Assembly Asad Qaiser Sunday left Istanbul for Belgrade, Serbia to attend the 141st Assembly of the Inter-parliamentary Union (IPU). The IPU Assembly will take place in Belgrade, the capital city of Serbia, on 13-17 October 2019. The Speak
Published 14 Oct, 2019 12:00am
SCCI chief terms incentives vital for industry
Business & Economy

SCCI chief terms incentives vital for industry

Sialkot Chamber of Commerce and Industry (SCCI) president Muhammad Ashraf Malik said incentive schemes to the exporters were vital to keep the industry competitive in the international market especially considering the peculiar situation of the economy.
Published 14 Oct, 2019 12:00am
WEEKLY COTTON REVIEW: rate remains stable, trading volume increases
Cotton & Textile

WEEKLY COTTON REVIEW: rate remains stable, trading volume increases

The rate of cotton remained stable. The trading volume increased. Due to low cotton production it is expected that 50 lac bales of worth 1.50 billion dollars will be imported. Up till now import agreements of 20 lac bales have been signed. World cotton da
Updated 14 Oct, 2019 07:44am
Turkey and proxies advance deep into Syria
General News

Turkey and proxies advance deep into Syria

Turkish forces and their proxies pushed deep into Syria on Sunday, moving closer to completing their assault's initial phase, while Washington announced it was pulling out 1,000 troops from the country's north. The Kurdish administration in northern Syria
Updated 14 Oct, 2019 07:44am
Italy backs EU ban on arms sales to Turkey
General News

Italy backs EU ban on arms sales to Turkey

Italian Prime Minister Giuseppe Conte said Sunday he would press for an EU ban on arms sales to Turkey, as Ankara pressed its attack on Kurdish forces in northern Syria. Conte was speaking ahead of a meeting in Luxembourg Monday of the European Union's fo
Updated 14 Oct, 2019 07:43am
Macron, Merkel call for end to Turkish offensive in Syria
General News

Macron, Merkel call for end to Turkish offensive in Syria

The leaders of France and Germany called Sunday for an end to Turkey's offensive against Kurds in northern Syria, warning of dire humanitarian consequences and a boost for the Islamic State group. Emmanuel Macron hosted Angela Merkel in Paris for a workin
Updated 14 Oct, 2019 07:42am
Southern California blazes show signs of slowing
General News

Southern California blazes show signs of slowing

Wildfires raging across southern California showed signs of slowing Sunday, as firefighters contained nearly half of the biggest blaze. A fire that had burned rapidly through the San Fernando Valley in greater Los Angeles was the strongest of several acro
Updated 14 Oct, 2019 07:42am
Cargo ship runs aground
Global Business Economy

Cargo ship runs aground

A 90-metre (295-foot) cargo ship ran aground Sunday in a pristine marine reserve in the Strait of Bonaficio off the French Mediterranean island of Corsica, but no oil appears to have been spilled, maritime police said. The Rhodanus, transporting 2,650 ton
Updated 14 Oct, 2019 06:32am
At least 26 dead as Typhoon Hagibis slams Japan
General News

At least 26 dead as Typhoon Hagibis slams Japan

Tens of thousands of rescuers were working through Sunday night to reach people feared trapped in Japan by landslides and floods caused by a powerful typhoon that killed at least 26, officials and local media said. Typhoon Hagibis moved away from land on
Updated 14 Oct, 2019 07:02am
Academic wins Tunisia presidential poll by a landslide
General News

Academic wins Tunisia presidential poll by a landslide

Conservative academic Kais Saied Sunday won a landslide victory in Tunisia's presidential runoff, sweeping aside his rival, media magnate Nabil Karoui, state television Wataniya said. It said he scooped almost 77 percent of the vote, compared to 23 percen
Updated 14 Oct, 2019 07:01am
Iran drops death row charge for environmentalists
General News

Iran drops death row charge for environmentalists

Four detained Iranian environmental activists have been cleared of a charge that could carry the death penalty, state news agency IRNA reported on Sunday. "The charge of 'corruption on earth' was dropped in recent days for four detained environmentalists,
Updated 14 Oct, 2019 07:01am
Multiple arrests in Hong Kong
General News

Multiple arrests in Hong Kong

Riot police clashed with anti-government protesters across Hong Kong Sunday as masked activists vandalised businesses deemed sympathetic to Beijing in another weekend of chaos in the financial hub. Rallies erupted in multiple neighbourhoods, with some pro
Updated 14 Oct, 2019 07:00am
Trudeau wears bulletproof vest at Canada rally
General News

Trudeau wears bulletproof vest at Canada rally

Canadian leader Justin Trudeau wore a bulletproof vest and was surrounded by heavy security during an election campaign rally after receiving a security threat, sources told the national broadcaster. Trudeau had body armor under his shirt and jacket, phot
Updated 14 Oct, 2019 07:00am
China's Topsports raises $1.01 billion in Hong Kong IPO
Companies

China's Topsports raises $1.01 billion in Hong Kong IPO

Chinese sportswear manufacturer Topsports International Holdings Ltd has raised $1.01 billion after pricing its shares at HK$8.50 in a Hong Kong initial public offering (IPO), a term sheet for the deal showed on Thursday. The stock priced toward the lower
Updated 14 Oct, 2019 07:02am
China's Topsports raises $1.01 billion in Hong Kong IPO
Global Business Economy

China's Topsports raises $1.01 billion in Hong Kong IPO

Chinese sportswear manufacturer Topsports International Holdings Ltd has raised $1.01 billion after pricing its shares at HK$8.50 in a Hong Kong initial public offering (IPO), a term sheet for the deal showed on Thursday. The stock priced toward the lower
Updated 14 Oct, 2019 06:32am
Analysts keep faith in Canadian dollar
Money & Banking

Analysts keep faith in Canadian dollar

The Canadian dollar will gain ground against its US counterpart over the coming year, supported by strengthening of the domestic economy and a narrower gap between Canadian and US interest rates, a Reuters poll predicted. Friday's poll of nearly 50 curren
Updated 14 Oct, 2019 06:58am
Saudi stocks fall as most of Gulf markets rise
Stocks

Saudi stocks fall as most of Gulf markets rise

Saudi Arabian stocks fell on Sunday led by banks, while most Gulf markets gained, mirroring Friday's surge in global peers after talks between the United States and China progressed towards a resolution of their trade war. Saudi Arabia's index retreated 0
Updated 14 Oct, 2019 06:51am
Torrent of rate cuts to yank down Asian bond yields
Stocks

Torrent of rate cuts to yank down Asian bond yields

Sovereign bond yields across most major emerging Asian economies will slip in the months ahead as all central banks across the region are expected to cut interest rates further to nurse their economies back to health, a Reuters poll showed. A sharp slowdo
Updated 14 Oct, 2019 06:51am
Torrent of rate cuts to yank down Asian bond yields
Money & Banking

Torrent of rate cuts to yank down Asian bond yields

Sovereign bond yields across most major emerging Asian economies will slip in the months ahead as all central banks across the region are expected to cut interest rates further to nurse their economies back to health, a Reuters poll showed. A sharp slowdo
Updated 14 Oct, 2019 06:51am
What Brexit? London tightens grip in forex trading
Money & Banking

What Brexit? London tightens grip in forex trading

Financial analytics firm Mosaic Smart Data has doubled the number of developers and quantitative analysts it employs since 2018 at its London base, where nearly 40 now crunch numbers to help banks trade foreign exchange and bonds. Far from suffering under
Updated 14 Oct, 2019 06:51am
Saudi Arabia opens new logistics zone in Jeddah, eyes private investors
Global Business Economy

Saudi Arabia opens new logistics zone in Jeddah, eyes private investors

Saudi Arabia launched on Sunday a new logistics zone open to private investors in the Red Sea port city of Jeddah, as part of a wider industrial initiative to diversify the economy away from oil and create jobs for Saudis. The al Khomra zone - which will
Updated 14 Oct, 2019 06:32am
Saudi Arabia opens tourist visas to US, European visa holders
Global Business Economy

Saudi Arabia opens tourist visas to US, European visa holders

Tourist visas for Saudi Arabia are now available online and on arrival to holidaymakers who already hold a visa from the United States, Britain or the EU's Schengen zone, expanding eligibility beyond an initial list of 49 countries. The conservative Musli
Updated 14 Oct, 2019 06:00am
Trump puts squeeze on Spanish olive oil producers

Trump puts squeeze on Spanish olive oil producers

Farmers had just begun harvesting olives in southern Spain when US President Donald Trump soured the mood with the announcement that Washington would slap hefty tariffs on their produce. "We are really worried," said Carlos Carreira at his 130 hectare (32
Published 14 Oct, 2019 12:00am
Hundreds of Algerians protest against proposed energy law
Energy

Hundreds of Algerians protest against proposed energy law

Hundreds of Algerians protested in front of parliament on Sunday against proposed changes to the energy law that they say the caretaker government has no right to pass. The draft law was agreed by the cabinet on Sunday, interim president Abdelkader Bensal
Updated 14 Oct, 2019 06:48am
Iran discovers gas field near Gulf
Energy

Iran discovers gas field near Gulf

Iran has discovered a gas field near the Gulf with enough reserves to supply the capital for 16 years, state media reported on Sunday. The Eram field contained 19 trillion cubic feet (538 billion cubic metres) of natural gas, the National Iranian Oil Comp
Updated 14 Oct, 2019 06:50am
Egypt cuts stock exchange fees in bid to boost investments
Stocks

Egypt cuts stock exchange fees in bid to boost investments

The Egyptian Financial Regulatory Authority (FRA) said on Sunday it had approved lowering stock exchange trading fees to encourage investment and competitiveness with other regional markets. The decision will now be sent to the cabinet for final approval,
Updated 14 Oct, 2019 06:48am
ECB's Holzmann calls current monetary policy 'wrong'
Money & Banking

ECB's Holzmann calls current monetary policy 'wrong'

New Austrian National Bank Governor Robert Holzmann sharply criticized the European Central Bank's ultra-easy monetary policy in an interview on Sunday and said he hoped for a new course under incoming chief Christine Lagarde. Holzmann took over as govern
Updated 14 Oct, 2019 06:50am
Property investors turn to Southeast Asia amid Hong Kong unrest
Global Business Economy

Property investors turn to Southeast Asia amid Hong Kong unrest

From luxury Singapore apartments to Malaysian seafront condos, Hong Kong investors are shifting cash into Southeast Asian property, demoralised by increasingly violent protests as well as the China-US trade war. Millions have taken to the streets during f
Updated 14 Oct, 2019 06:01am
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