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Print - 2019-10-23
We believe what's drummed into us
Articles

We believe what's drummed into us

Why do we have such firmly held beliefs that a discussion becomes a fight? Conversation so easily degenerates into an argument - 'us versus them' kind - with little room for the other point of view. Of course, matters of faith are incontrovertible and nee
Updated 24 Oct, 2019 07:24am
Economic impact of abolished zero-rating
Articles

Economic impact of abolished zero-rating

One of the most detrimental aspects of the federal budget FY20 has been the elimination of SRO 1125 and the imposition of General Sales Tax of 17% on the previously zero-rated export sectors. The immediate impact of the withdrawal of SRO 1125 is the trans
Updated 24 Oct, 2019 07:24am
SOE reforms critical

SOE reforms critical

The federal secretary, Industries and Production, informed the Parliament's Standing Committee meeting that the ministry is supporting the revival of Pakistan Steel Mills (PSM) through sale of minority shares with management control to the private sector
Updated 24 Oct, 2019 06:43am
The Weather
General News

The Weather

The weather report on Tuesday (October 22, 2019) and the forecast for Wednesday (October 23, 2019).

Published 23 Oct, 2019 12:00am
Bullion Rates
Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Cotton Spot Rates
Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Pakistan Mercantile Exchange - PMEX
Rates

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Shipping Intelligence
Schedules

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
THE RUPEE: marginal changes

THE RUPEE: marginal changes

Slight changes were seen on the money market on Tuesday in the process of trading activity, marketmen said.
Updated 23 Oct, 2019 07:16am
BOARD MEETINGS
Stocks

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Updated 23 Oct, 2019 06:35am
Spot dollar rates
Rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Money Market Report
Rates

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (October 22, 2019).
Published 23 Oct, 2019 12:00am
Bill buying rates per unit of currency
Rates

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Currency notes: exchange rates
Rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (October 22, 2019).

Published 23 Oct, 2019 12:00am
Barclays bid rates and maximum rates for payment of interest
Rates

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 23 Oct, 2019 12:00am
State Bank of Pakistan conversion rates
Rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 23 Oct, 2019 12:00am
New York cotton
Cotton & Textile

New York cotton

The following were the fluctuations observed during the day:

Updated 23 Oct, 2019 06:39am
Saudi index outperforms on Q3 results, Dubai ends losing streak
Stocks

Saudi index outperforms on Q3 results, Dubai ends losing streak

Saudi Arabia's stock market rose sharply on Tuesday, outperforming other regional markets on the back of strong corporate earnings, while Dubai rebounded through gains in financials and property shares. The Saudi benchmark index added 1.4% with Al Rajhi B
Updated 23 Oct, 2019 06:39am
Australian, New Zealand shares cheered by Sino-US trade optimism
Stocks

Australian, New Zealand shares cheered by Sino-US trade optimism

Australian shares advanced on Tuesday on signs that Washington and Beijing had made some headway in resolving a protracted trade row, while miners also benefited from a strong tailwind of higher commodity prices. The S&P/ASX 200 index tacked on 0.3%, or 1
Updated 23 Oct, 2019 07:02am
Tuesday's early trade: Dow Jones, S&P move higher
Stocks

Tuesday's early trade: Dow Jones, S&P move higher

The S&P 500 and Dow Jones indexes rose on Tuesday, lifted by upbeat corporate earnings reports that eased concerns over the fallout from the US-China trade war, but a decline in shares of Facebook hurt the Nasdaq. The benchmark S&P 500 index, which contin
Updated 23 Oct, 2019 06:40am
Trade hopes move S&P close to new record high
Stocks

Trade hopes move S&P close to new record high

The benchmark S&P 500 stock index rose within striking distance of a record high on Monday as further signs of progress toward resolution of the US-China trade war boosted shares in sectors sensitive to trade and the global economy. US President Donald Tr
Updated 23 Oct, 2019 06:42am
Treasury 10-year, 30-year yields up
Stocks

Treasury 10-year, 30-year yields up

US Treasury yields rose on Monday as investors sold safe-haven debt on optimism about a potential US-China trade deal and a resolution of some of the major issues related to Britain's exit from the European Union. US 10-year and 30-year yields rose to fiv
Updated 23 Oct, 2019 07:07am
Eurozone government bond yields fall
Stocks

Eurozone government bond yields fall

Eurozone government bonds yields fell on Tuesday, before a vote in the British parliament that may determine whether the UK can leave the European Union in an orderly way at the end of the month. UK Prime Minister Boris Johnson faces two Brexit votes on T
Updated 23 Oct, 2019 06:42am
China stocks climb
Stocks

China stocks climb

China stocks recouped earlier losses to end higher on Tuesday, bolstered by tech firms as investors cheered their solid earnings as Beijing seeks to support the sector amid a bruising trade war. The blue-chip CSI300 index rose 0.4%, to 3,895.88, while the
Updated 23 Oct, 2019 06:43am
European stocks subdued by mixed corporate earnings and Brexit
Stocks

European stocks subdued by mixed corporate earnings and Brexit

Mixed earnings reports kept a lid on European stocks, with London's midcap index suffering from doubts over whether British lawmakers will back the government's Brexit bill on Tuesday. The pan-European STOXX 600 finished up just 0.1%, with a weaker pound
Updated 23 Oct, 2019 06:43am
Indian shares wobble
Stocks

Indian shares wobble

Indian shares were flat in choppy trade on Tuesday, as markets resumed trading after a three-day weekend, with Infosys tumbling after the company said it was investigating allegations made against its top executive. Infosys shares dropped 13%, the most on
Updated 23 Oct, 2019 07:02am
Southeast Asian stocks up; Manila leads gains
Stocks

Southeast Asian stocks up; Manila leads gains

Southeast Asian stock markets ended higher on Tuesday, with Philippines leading gains, as hopes of a resolution in the long drawn Sino-US trade dispute revived investor spending. US President Donald Trump struck an optimistic tone on a trade deal with Chi
Updated 23 Oct, 2019 07:04am
Exporters lift FTSE
Stocks

Exporters lift FTSE

London's FTSE 100 was lifted by export-focused stocks on Tuesday as uncertainty over whether British lawmakers would support the government's Brexit deal took its toll on the pound. The FTSE 100 added 0.7%, with BP and Shell both gaining more than 2% and
Updated 23 Oct, 2019 07:14am
Turkey names US-convicted banker to head Istanbul stock exchange
Stocks

Turkey names US-convicted banker to head Istanbul stock exchange

Turkey has named a banker convicted of sanctions busting in the US as the new chief executive of the Istanbul stock exchange, the finance minister has said. The appointment of Mehmet Hakan Atilla, the former deputy director general of Halkbank, comes almo
Updated 23 Oct, 2019 06:45am
I Coast tourism attracts $5 billion from Arab investors
Global Business Economy

I Coast tourism attracts $5 billion from Arab investors

Ivory Coast announced Tuesday that Arab investors had pledged $5 billion to support its programme to attract foreign tourists to the West African nation. The tourism ministry said "a round table of investors in Dubai" on Sunday and Monday expressed intere
Updated 23 Oct, 2019 07:11am
McDonald's earnings dip
Global Business Economy

McDonald's earnings dip

McDonald's reported a dip in third-quarter earnings on Tuesday, missing expectations as increased spending on technology hit the company's performance despite higher sales. Profits dipped 1.8 percent from the year-ago period to $1.6 billion. Revenues edge
Updated 23 Oct, 2019 07:11am
German farmers stage tractor protest over climate measures

German farmers stage tractor protest over climate measures

Thousands of farmers drove their tractors into German cities on Tuesday, in protest at the government's new agricultural policies which they say will hurt their livelihoods and make them scapegoats for climate change. Long convoys of tractors held up traf
Published 23 Oct, 2019 12:00am
Procter & Gamble earnings jump
Global Business Economy

Procter & Gamble earnings jump

Procter & Gamble reported a jump in quarterly earnings Tuesday, benefiting from strong sales of premium toothpaste and other high-end products and price increases in other categories. The consumer products giant, whose brands include Tide detergent and Ol
Updated 23 Oct, 2019 07:05am
Facebook devotes $1bn to affordable housing in US
IT & Computers

Facebook devotes $1bn to affordable housing in US

Facebook on Tuesday said that it is devoting $1 billion during the coming decade in affordable housing, most of it in its home state of California. The leading social network has partnered with Governor Gavin Newsom and others on projects intended to resu
Updated 23 Oct, 2019 06:41am
Sunrise shareholders reject giant Swiss telecoms deal
Telecommunication

Sunrise shareholders reject giant Swiss telecoms deal

Swiss communications firm Sunrise said Tuesday that it does not have enough shareholder support to acquire cable operator UPC Switzerland, quashing what would have been one of Europe's largest takeovers. Sunrise had scheduled a meeting of shareholders for
Updated 23 Oct, 2019 06:39am
S&P downgrades Boeing credit rating outlook to negative
Global Business Economy

S&P downgrades Boeing credit rating outlook to negative

Ratings agency S&P on Tuesday downgraded the outlook for Boeing, citing concerns the aerospace giant may have misled regulators about the 737 MAX. The plane has been grounded in the wake of two deadly crashes that killed 346 people, and Boeing has faced i
Updated 23 Oct, 2019 06:59am
EU fires budget warning shots to Italy, France
Global Business Economy

EU fires budget warning shots to Italy, France

The European Commission on Tuesday demanded urgent clarifications from Italy and France on their budget plans for next year, worried they veer widely from spending cut commitments made to Brussels. The letters from the EU's executive arm requested a respo
Updated 23 Oct, 2019 06:59am
Zuckerberg calls Libra key for 'America's financial leadership'
IT & Computers

Zuckerberg calls Libra key for 'America's financial leadership'

Facebook's proposed digital coin Libra would "extend America's financial leadership" while helping cash-strapped people around the world, chief executive Mark Zuckerberg said in remarks for delivery to lawmakers released Tuesday. In the testimony released
Updated 23 Oct, 2019 06:41am
Dollar and riskier currencies up in Asia
Money & Banking

Dollar and riskier currencies up in Asia

Hopes the United States and China were making progress to resolve their trade dispute supported the dollar and trade-exposed Asian currencies on Tuesday, while the Canadian dollar rose as the ruling Liberal Party looked to have won a national election. Th
Updated 23 Oct, 2019 06:47am
Euro steadies as dollar picks up gains in Europe
Money & Banking

Euro steadies as dollar picks up gains in Europe

The euro was steady on Tuesday after rising to a two-month high in the previous session versus the dollar as traders waited for the British parliament to vote on the Withdrawal Agreement Bill as it will shine light on when and how Britain will exit the EU
Updated 23 Oct, 2019 06:47am
Dollar recovers: loonie rises in New York
Money & Banking

Dollar recovers: loonie rises in New York

The US dollar recovered earlier losses on Monday afternoon as Brexit negotiations were once again thrown into disarray, and the Canadian dollar strengthened in the hours before results of the election for prime minister, which is expected to be close. Ear
Updated 23 Oct, 2019 07:14am
South African rand jumps
Money & Banking

South African rand jumps

South Africa's rand powered to a one-month best on Tuesday, lifted by a brightening outlook on a trade deal between China and the United States and locally by a second day without electricity blackouts. Stocks slipped despite grocer Pick n Pay's shares cl
Updated 23 Oct, 2019 07:22am
Asian forex: Trade-reliant Asian currencies advance
Money & Banking

Asian forex: Trade-reliant Asian currencies advance

Trade-exposed Asian currencies got some support on Tuesday from upbeat comments on the progress of US-China trade negotiations, but other units were capped by cautious investor sentiment. Both the United States and China said talks on resolving their bitt
Updated 23 Oct, 2019 07:22am
Aussie, kiwi extend rally
Money & Banking

Aussie, kiwi extend rally

The Australian and New Zealand dollars extended a week-long rally on Tuesday as optimism for progress on Sino-US trade talks and the Brexit standoff squeeze short positions and pushed bond yields higher. The Aussie dollar reached a five-week top of $0.688
Updated 23 Oct, 2019 07:25am
Sterling slips off 5-1/2-month high
Money & Banking

Sterling slips off 5-1/2-month high

Sterling pulled back from 5-1/2-month highs on Tuesday as markets priced in some uncertainty before crucial parliament votes on the government's Brexit withdrawal bill that will determine whether Britain can leave the European Union on October 31. It had
Updated 23 Oct, 2019 07:25am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,150. The traded value of Metals, Energy and COTS/FX was recorded at PKR 4.246 billion and the numbers of lots traded 6,681.
Published 23 Oct, 2019 12:00am
Russian wheat prices hit 5-month high

Russian wheat prices hit 5-month high

Export prices for Russian wheat last week hit their highest level in five months thanks to strong demand and growth in global benchmarks in Chicago, analysts said on Monday.
Published 23 Oct, 2019 12:00am
European wheat futures fall from 3-month high

European wheat futures fall from 3-month high

European wheat futures eased from a three-month high on Monday, curbed by a pullback in Chicago as traders waited to see if a tender called by Algeria would provide further demand impetus.
Published 23 Oct, 2019 12:00am
US natural gas futures ease on record production
Energy

US natural gas futures ease on record production

US natural gas futures eased as production rose to a record high and forecasts for lower than previously expected heating demand next week. Front-month gas futures for November delivery on the New York Mercantile Exchange were down 3.2 cents, or 1.4%, to
Updated 23 Oct, 2019 07:14am
Activities at Karachi and Port Qasim
Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 137,096 tonnes of cargo comprising 104,362 tonnes of import cargo and 32,734 tonnes of export cargo including 3,302 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 23 Oct, 2019 12:00am
Cotton prices of fine quality rise
Cotton & Textile

Cotton prices of fine quality rise

Prices of fine type improved on the cotton market on Tuesday in the process of trading activity, dealers said. The official spot rate was higher by Rs 100 to Rs 9100, they said. In ready session, about 20,000 bales of cotton changed hands between Rs 7800-
Updated 23 Oct, 2019 06:51am
CBOT corn futures fall

CBOT corn futures fall

Chicago Board of Trade corn futures fell for a second straight session on Monday on weak export demand and spillover pressure from lower wheat, traders said. CBOT December corn ended down 3-3/4 cents at $3.87-1/4 per bushel, a 1-1/2 week low.
Published 23 Oct, 2019 12:00am
CBOT soyabean futures unchanged

CBOT soyabean futures unchanged

Chicago Board of Trade soyabean futures ended about unchanged on Monday as investors weighed an advancing US harvest and an uncertain export outlook against worries about the size of the US crop, traders said. CBOT November soyabeans settled 3/4 cent lowe
Published 23 Oct, 2019 12:00am