News Archives for Print - 2019-12-08

Print - 2019-12-08

One killed, four injured in blast

A mechanic, identified as Hafiz Mahmood, lost his life while and four others received injuries on Saturday when a blast took place inside an air-conditioners' shop. The blast took place in the city's Township area. The body and the injured persons were sh

Published 08 Dec, 2019 12:00am

Rs 297.64 billion released under PSDP

The federal government has released Rs 297.64 billion (42.5 percent) including Rs 61.75 billion foreign aid (48.13 percent) for various ongoing and new development projects under Public Sector Development Programme (PSDP) 2019-20 against the total budgete

Published 08 Dec, 2019 12:00am

Hafeez identifies impediments to growth

Advisor to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Saturday said healthy export growth is essential for a long-term economic development.

Published 08 Dec, 2019 12:00am

US, Iran swap prisoners in rare act of cooperation

The United States and Iran swapped prisoners - a Chinese-American detained for three years on spying charges and an imprisoned Iranian - on Saturday in a rare act of cooperation between two longtime foes whose ties have worsened since President Donald Tru

Published 08 Dec, 2019 12:00am

CCP lists factors behind increase in vehicles' prices

The Competition Commission of Pakistan (CCP) has termed fluctuation in dollar-rupee parity and additional taxation as major factors behind increase in the prices of locally manufactured vehicles in the country.

Published 08 Dec, 2019 12:00am

NTC seeking reversal of increase in turnover tax

National Telecommunication Corporation (NTC) is vigorously seeking the reversal of an increase in turnover tax, well-informed sources told Business Recorder. NTC was established under section 41 of the Pakistan Telecommunication Re- organization Ac

Published 08 Dec, 2019 12:00am

World Bank to reduce lending to China

The World Bank said Saturday its lending to China has fallen sharply and will continue to be pared back, after US President Donald Trump demanded it stop altogether.

Published 08 Dec, 2019 12:00am

Legalising non-duty paid items: FBR planning to launch scheme

The Federal Board of Revenue (FBR) is planning to launch a scheme on national level to provide an opportunity to the owners of smuggled goods to legalize non-duty paid items on payment of duties/taxes and fine/default surcharge.

Published 08 Dec, 2019 12:00am

Ex-judge's review petition: SC to begin hearing from December 10

The Supreme Court will hear the review petition of ex-judge Accountability Court, Islamabad, Arshad Malik from December 10.

Published 08 Dec, 2019 12:00am

Maryam seeks removal of name from ECL

Pakistan Muslim League-Nawaz Vice President Maryam Nawaz Saturday approached the Lahore High Court for removal of her name from the Exit Control List (ECL) and to allow her to go abroad. A division bench comprising Justice Ali Baqar Najafi and Justice Anw

Published 08 Dec, 2019 12:00am

PML-N leaders meet Nawaz, take stock of situation

Pakistan Muslim League-Nawaz (PML-N) leaders arrived in London for an important meeting of the party on Saturday, private TV channels reported. Khawaja Asif, Marriyum Aurangzeb, Rana Tanveer, Shehbaz Sharif, Ayaz Sadiq, Ahsan Iqbal and Amir Muqam are taki

Published 08 Dec, 2019 12:00am

Saudis distance themselves from US naval base shooter

Saudi Arabia sought to distance itself Saturday from a student who carried out a fatal shooting at an American naval base, as it seeks to repair its image of being an exporter of Islamic extremism.

Published 08 Dec, 2019 12:00am

Home remittances: Transaction limit for reimbursement of TT charges revised

In order to facilitate banks, the State Bank of Pakistan (SBP) has announced reimbursement of 'SAR 10' on home remittance transaction equal to and above $ 100, but less than $200. Earlier, under the reimbursement of TT Charges Scheme, banks were allowed t

Published 08 Dec, 2019 12:00am

US resumes talks with Taliban in Doha

Washington resumed talks with the Taliban in Qatar Saturday, a US source said, three months after President Donald Trump abruptly halted diplomatic efforts that could end America's longest war.

Published 08 Dec, 2019 12:00am

Dua Mangi returns home safely: family

A week after being kidnapped from Karachi's upscale neighbourhood at gunpoint, 20-year-old female student Dua Mangi, a law student, has safely reached her home, according to her family.

Published 08 Dec, 2019 12:00am

IAEA body's visit aimed at cooperation in nuclear security

A delegation of International Atomic Energy Agency (IAEA) led by Raja Abdul Aziz Raja Adnan, Head of IAEA's Nuclear Security Division, visited Pakistan from December 4-7, 2019 to further strengthen the ongoing cooperation between Pakistan and IAEA in the

Published 08 Dec, 2019 12:00am

'Selected' government cannot end economic, governance crises: Bilawal

Pakistan Peoples Party (PPP) chairman, Bilawal Bhutto-Zardari has said that infrastructure has to be focused on to fight the economic and governance crises, and only public government can solve it.

Published 08 Dec, 2019 12:00am

UK Labour leader calls Russia leak accusations 'nonsense'

The leader of Britain's main opposition Labour party on Saturday dismissed as a "conspiracy theory" claims that a leaked classified government document used in his election campaign was put online by Russia.

Published 08 Dec, 2019 12:00am

Letters

'In-house change'

Business Recorder seems to have dwelled on the Sharifs' misfortune with smugness. In an editorial "In-house change" carried by the newspaper yesterday, it has been argued that "Implicit in this scenario is the belief (or hope?) that Imran Khan's ba

Published 08 Dec, 2019 12:00am

Articles

UAE mines history to assert legitimacy in major documentary

The United Arab Emirates is renowned for skyscrapers and mega-projects, but as the emerging regional power seeks to build legitimacy, it is campaigning to glorify its past as well.

Published 08 Dec, 2019 12:00am

Articles

Trump trial to sideline senators in presidential race

Donald Trump's impeachment would not only trigger an extraordinary US Senate trial, it would ensnare - with potentially ruinous results - several of the candidates aiming to defeat the president at a critical time in the 2020 election process.

Published 08 Dec, 2019 12:00am

Articles

UK election: parties take battle for ideas to social media

At a dingy office space in north London, around 60 Labour activists busied themselves recently with the basics of modern campaigning before next week's general election. Far from traditional door-to-door canvassing, they were deployed on social media - a

Published 08 Dec, 2019 12:00am

Articles

In search of exporting FDI

State Bank of Pakistan (SBP) governor Dr Reza Baqir lately said that focusing on export can take the country out of the boom bust cycle. That is a right approach as import compression is a stop-gap solution to avert the balance of payment crisis. Now with

Published 08 Dec, 2019 12:00am

Kafkaesque situations?

Fatherhood is a grim challenge, especially for one who is poor, powerless such as the fathers of Naqeebullah and Mashal Khan. Naqeebulah's father, Muhammad Khan, died on Monday in a Rawalpindi hospital while Mashal's father, Iqbal Lala, is on the run fear

Updated 09 Dec, 2019 06:46am

Blunting NAB's edge

The recovery of Rs 71 billion - directly or indirectly - constitutes a significant feat. The NAB chief therefore rightly derives pleasure from his organisation's achievement. But not many do not look at it favourably, arguing that accountability by NAB is

Updated 09 Dec, 2019 06:39am

Education sector: KP government, Microsoft join hands to highlight technological advancements

Microsoft in collaboration with the Khyber Pakhtunkhwa Elementary and Secondary Education Department hosted a seminar in Education dubbed 'Microsoft Edu Day'. The seminar brought together delegates from across the region to showcase the latest technology

Published 08 Dec, 2019 12:00am

Commodities

KP to provide wheat at subsidised rate to merged districts: CM

KP Chief Minister Mahmood Khan has said that the provincial government is going to give subsidy on wheat to the newly merged districts (NMDs) of the erstwhile FATA. A summary in this regard, he said is already prepared.

Published 08 Dec, 2019 12:00am

Energy

Nepra to issue licence to KP for laying transmission lines

Chairman, National Electric Power Regulatory Authority (NEPRA), Tauseef H Farooqi Saturday said that the authority intends to issue license to KP for laying its own transmission lines and establishment of transmission companies to generate electricity and

Published 08 Dec, 2019 12:00am

Carjacking on the rise in Capital

The incidents of motor vehicle thefts witnessed an increase during the last week in the federal capital as carjackers stole or snatched over 10 vehicles from various localities.

Published 08 Dec, 2019 12:00am

CEC, ECP members: NA speaker rules out constitutional crisis

Speaker National Assembly, Asad Qaiser has ruled out any constitutional crisis for nominations of Chief Election Commissioner (CEC) and members of election commission, saying they should shun differences and unite on matters relating to national interest.

Published 08 Dec, 2019 12:00am

Lawyers reject two new laws promulgated by KP government

Lawyers' community of Khyber Pakhtunkhwa Saturday rejected the KP Civil Procedure (Amendment) Act, 2019 and KP Control Narcotics Substance Act, 2019 and announced a three-day strike against these legislations promulgated by the provincial government.

Published 08 Dec, 2019 12:00am

Geelani calls for shutdown, black day in IHK on World HR Day

The Chairman of All Parties Hurriyat Conference, Syed Ali Geelani, has appealed to the people to observe the World Human Rights Day, the 10th December, as Black Day to draw the attention of the international community towards the appalling human rights si

Published 08 Dec, 2019 12:00am

PM condoles

Prime Minister Imran Khan has expressed his deep condolences on the demise of Sheikha Mariam bint Abdullah Al Attiyah, mother of the Prime Minister and the Interior Minister of the State of Qatar. In his condolence message, the Prime Minister prayed for t

Published 08 Dec, 2019 12:00am

Zardari can be dealt with akin to Nawaz, Shahbaz: Fawad

Federal Minister for Science and Technology, Fawad Chaudhry on Saturday said that the Pakistan Armed Forces and the judiciary of Pakistan are respected state institutes which should be addressed with due respect when being talked about.

Published 08 Dec, 2019 12:00am

Pakistan wants realistic mandates for UN peacekeeping operations

Pakistan has underscored the need for realistic mandates for UN peacekeeping operations, with adequate resources, to face challenges in the world's troubled regions.

Published 08 Dec, 2019 12:00am

Taxes

FBR to refer deferred amounts of refunds claims to RTOs

The Federal Board of Revenue (FBR) has decided to refer all deferred amounts of refund claims to respective Regional Tax Offices (RTOs) for clearing after due diligence, said sources.

Published 08 Dec, 2019 12:00am

Business & Economy

FCCI to ink MoU with Cross Border E-Commerce Forum

Faisalabad Chamber of Commerce & Industry (FCCI) will ink a Memorandum of Understanding (MoU) with Cross Border E-Commerce Forum to introduce this innovative tool to give a quantum jump to the export especially by SME sector, said Rana Sikandar-e-Azam Pre

Published 08 Dec, 2019 12:00am

GCU new campus: VC reviews progress of uplift works

Professor Dr Asghar Zaidi, Vice-Chancellor of Government College University Lahore, on Saturday visited the 370 acres under-construction new campus of the university at Kala Shah Kaku and reviewed the progress of developmental work.

Published 08 Dec, 2019 12:00am

Business & Economy

Government striving to promote economic activities: minister

Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan on Saturday said the government was pursuing the mission of promoting economic activities and facilitating businesses.

Published 08 Dec, 2019 12:00am

Business & Economy

Exchange of handmade products between Pak-Turkey stressed

Chairperson KP Chapter of Handicraft Association of Pakistan, Maryam Iqbal said that Turkey has made a lot of development in handicraft while the people of Khyber Pakhtunkhwa have expertise in the field, so there should be exchange of handmade products be

Published 08 Dec, 2019 12:00am

FFC signs MoU with SWF

Sona Welfare Foundation (SWF) as the implementing partner for Fauji Fertilizer Company (FFC) has signed a Memorandum of Understanding with Akhuwat Islamic Microfinance in efforts to financially support and empower the marginalized communities.

Published 08 Dec, 2019 12:00am

Business & Economy

PIA urged to set up sub-office at LCCI

President of the Lahore Chamber of Commerce & Industry Irfan Iqbal Sheikh on Saturday invited the Pakistan International Airlines (PIA) to establish its sub office at the Lahore Chamber to facilitate its members.

Published 08 Dec, 2019 12:00am

Firdous for presenting country's soft image across the globe

Terming media role vital in mustering public opinion on the government's initiatives, Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Saturday said that all wings of the Information Departments in the center and p

Published 08 Dec, 2019 12:00am

World Human Rights Day on December 10

The World Human Rights Day would be observed on December 10 and different events would be held to highlight the human rights and to raise awareness regarding responsibilities for the safety of human rights.

Published 08 Dec, 2019 12:00am

Business & Economy

Development schemes: Punjab CM to start field visits from next week

With a view to extending relief to the people and accelerating the pace of work on development projects, the Punjab Chief Minister Sardar Usman Buzdar will be resuming visiting different cities from the next week.

Published 08 Dec, 2019 12:00am

Business & Economy

75th Anniversary: ICI Pakistan showcases its history and growth story

ICI Pakistan Limited hosted an exhibition on December 7, 2019 to showcase its incredible history and growth story to mark the Company's 75th Anniversary. Very few companies in Pakistan have so far celebrated 75 years and therefore this is a major mileston

Published 08 Dec, 2019 12:00am

Business & Economy

Online registration: SESSI to set up helpdesk at SAI

"SESSI will set up a helpdesk at SITE Association of Industry (SAI) to facilitate online registration of industries of SITE area on the SESSI web portal."

Published 08 Dec, 2019 12:00am

Business & Economy

Stock market rose by over 8,000 points in last few weeks: SG BMP

Secretary General (Federal) of the Businessmen Panel (BMP) and Former Chairman FPCCI Standing Committee Horticulture Exports, Ahmad Jawad has said after posting 49 months of back-to-back current account deficits, Pakistan's economy suddenly posted a surpl

Published 08 Dec, 2019 12:00am

Business & Economy

Guidelines for ADP for next FY explained

The Sindh government in its guidelines for Annual Development Programme (ADP) for the next financial year explained that the amount for the projects to be financed through foreign assistance should separately be mentioned in rupees, indicating the expendi

Published 08 Dec, 2019 12:00am

Commodities

Gems export up 47 percent in July-October

Pakistan's export of gems shot up by 47 percent to US$1.762 million in July-Oct 2019, official figure said. Increase stands at US$562 million in July-Oct 2019 from US$1.2 million in July-Oct 2018, Pakistan Bureau of Statistics shows.

Published 08 Dec, 2019 12:00am

Court summons Sharjeel's wife, other accused on December 21

An accountability court on Saturday has summoned PPP leader Sharjeel Memon's wife and other proclaimed offenders in assets reference hearing on December 21.

Published 08 Dec, 2019 12:00am

Over 1,100 awarded degrees at IoBM convocation

Institute of Business Management (IoBM) on Saturday held its 22nd convocation and conferred degrees to over 1100 graduates in business management and other disciplines. This is IoBM's largest graduating batch since the institute's inception in 1996.

Published 08 Dec, 2019 12:00am

Business & Economy

UBG candidate elected FPCCI VP unopposed

Muhammad Ali Quaid, a candidate of United Business group (UBG), has been elected unopposed as Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the year 2020 on federal area seat unofficially.

Published 08 Dec, 2019 12:00am

Two more dengue patients die in Karachi

The dengue fever cases were reportedly dropped by 93 percent but the situation in Sindh disappointing as two more dengue patients died in Karachi hospitals. As per details, a woman resident of North Nazimabad and a three-month-old baby of Gulshan-e-Malir

Published 08 Dec, 2019 12:00am

Body formed for safety of heritage

Sindh Government Constituted a committee at District level as District Heritage Committee headed by Deputy Commissioner as chairman and representatives of Culture & Tourism and Archives as Secretary while in members DEO Semis Habibullah Kumbhar, Associate

Published 08 Dec, 2019 12:00am

Khursheed's judicial remand extended till December 12

An accountability court in Sukkur on Saturday extended the judicial remand of Pakistan Peoples Party (PPP) senior leader Syed Khursheed Shah till December 12 in a case regarding his alleged assets beyond means.

Published 08 Dec, 2019 12:00am

Commodities

Kinnow export begins with a target of 300,000 metric tons

Export of Kinnow from Pakistan has commenced and an export target of 300,000 metric tons has been set for the current season which is expected to generate valuable foreign exchange of $ 19.5 million during this season.

Published 08 Dec, 2019 12:00am

Commodities

Canadian canola crop smallest in four years, disappoints after wet harvest

Canadian farmers produced the smallest canola crop in four years, less than expected, after unusually wet autumn weather that left millions of acres unharvested, a government report showed on Friday.

Published 08 Dec, 2019 12:00am

Commodities

Quality coffee shortage trips up funds to send prices soaring

A shortage of high quality arabica coffees has boosted spot prices in Central America, Colombia and Brazil, catching speculators who bet on falling futures prices by surprise.

Published 08 Dec, 2019 12:00am

Commodities

Copper primed for a pop if US-China trade war is resolved

Low inventories across the copper supply chain mean that any resolution to the US-China trade war could trigger a snap rally in prices as consumers rush to restock, market participants said on Tuesday.

Published 08 Dec, 2019 12:00am

Commodities

Top natural rubber producers consider more export curbs

The International Tripartite Rubber Council (ITRC), which includes top producers Thailand, Indonesia and Malaysia, is considering another export curb to help stabilise rubber prices, the group said in a statement on Thursday.

Published 08 Dec, 2019 12:00am

Commodities

French wheat sowing and maize harvesting drag on as winter nears

French farmers made little progress last week in sowing wheat and harvesting maize, data from farm office FranceAgriMer showed on Friday, suggesting rain delays could continue into winter.

Published 08 Dec, 2019 12:00am

Commodities

ICO maintains forecast for global coffee deficit

The International Coffee Organization (ICO), in a monthly update, has maintained its forecast for a global coffee deficit of 502,000 60-kg bags in the 2019/20 season.

Published 08 Dec, 2019 12:00am

Commodities

Brazil seen planting largest corn area in history on firm prices, demand

Brazilian farmers are expected to plant more than 18 million hectares of corn in the 2019/20 season, a 3.5% rise from the previous cycle and the largest area on record, according to a Reuters poll.

Published 08 Dec, 2019 12:00am

Commodities

Egypt to get $1.1 billion from ITFC to fund commodities imports

The International Islamic Trade Finance Corporation (ITFC) will provide $1.1 billion of funding to help Egypt with imports of petroleum products and basic commodities in 2020, Egypt's petroleum and supply ministries said on Wednesday.

Published 08 Dec, 2019 12:00am

Prices of essential kitchen items witness mixed trend

Prices of most of the essential kitchen items have witnessed a mixed trend during this week past as compared to previous week, a survey conducted by Business Recorder revealed here on Saturday.

Published 08 Dec, 2019 12:00am

Madadgar distributes clothes, notebooks among orphans, students

A local welfare organization - Madadgar Development Programme - distributed warm clothes and note books among the orphan and poor schoolchildren from low income families in an effort to mitigate their sufferings in the chilly winter season.

Published 08 Dec, 2019 12:00am

Business & Economy

Pakistan to observe 'Saarc Charter Day' on December 10

Pakistan will commemorate 35th SAARC Charter Day on December 10 (Tuesday) to renew commitment to the cherished goals of the organization besides further accelerating the pace of regional economic cooperation.

Published 08 Dec, 2019 12:00am

Sarsabz hosts event to highlight issues of farmers

Pakistan's leading fertilizer brand Sarsabz, as part of its 'Salam Kissan, Sarsabz Pakistan' initiative, hosted a special event to celebrate the role and contribution of farmers at Mehran Culture Auditorium in Sukkur.

Published 08 Dec, 2019 12:00am

NAB recovers Rs 5 billion through plea bargain

National Accountability Bureau (NAB) has recovered Rs 5 billion through plea bargain during year 2019. According to annual performance evaluation of NAB Karachi, the bureau has made direct recoveries amounting to Rs 5 billion through plea bargain during y

Published 08 Dec, 2019 12:00am

IT & Computers

MoIT for Pak-China IT cooperation under CPEC framework

The Ministry of Information Technology and Telecommunication (MoIT) has approached Ministry of Planning, Development & Reforms to promote IT cooperation between China and Pakistan under the China-Pakistan Economic Corridor (CPEC) framework.

Published 08 Dec, 2019 12:00am

Bangladesh tears down brick kilns to fight toxic smog

Excavators flanked by Bangladesh riot police are at work demolishing illegal soot-belching brick kilns around the smog-choked capital Dhaka, forcing migrant labourers out of work and back to their villages.

Published 08 Dec, 2019 12:00am

Global Business Economy

Turkmenistan Airlines flies to EU again after ban

National carrier Turkmenistan Airlines resumed flights to the European Union on Saturday after a 10-month hiatus triggered by an EU ban. An AFP correspondent in Turkmenistan saw 50 passengers line up to check in for the airline's 0700 GMT flight to Frankf

Published 08 Dec, 2019 12:00am

Global Business Economy

New travel misery in France as unions warn of fresh turmoil

The most serious nationwide strike to hit France in years caused new misery for weekend travellers on Saturday, with defiant unions dismissing proposals by the government and warning walkouts would last well into next week.

Published 08 Dec, 2019 12:00am

Energy

PG&E agrees to $13.5bn payout for deadly California fires

California's Pacific Gas and Electric will pay $13.5 billion to settle lawsuits over its role in a series of wildfires that killed scores of people and destroyed thousands of homes, the utility giant said Friday.

Published 08 Dec, 2019 12:00am

Troubled HK Airlines allowed to keep operating

Cash-strapped carrier Hong Kong Airlines was handed a lifeline by regulators on Saturday after they decided not to punish it for delaying salary payments amid an ongoing financial crisis. The international finance hub has seen six months of protests which

Updated 08 Dec, 2019 06:17pm

Global Business Economy

China's forex reserves ease to $3.096 trillion

China's foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement. Analysts polled by Reuters had expected Chin

Published 08 Dec, 2019 12:00am

Floods kill 12 people in western Uganda

Twelve people have been swept to their deaths by floods in western Uganda, the Red Cross said on Saturday, as the East African country is battered by torrential rain. "We have recovered 12 bodies from the water and one person has been rushed to hospital w

Published 08 Dec, 2019 12:00am

Air strikes kill 19 civilians in northwest Syria

Syrian regime and Russian air strikes on Saturday killed 19 civilians, eight of them children, in the country's last major opposition bastion, a war monitor said.

Published 08 Dec, 2019 12:00am

White House rejects participation in 'baseless' impeachment probe

The White House blasted the impeachment inquiry into Donald Trump as "completely baseless" Friday, signalling it would not seek to defend the president in Democratic-led hearings to draw up formal charges against him.

Published 08 Dec, 2019 12:00am

US says drone shot down by Russian air defences near Libyan capital

The US military believes that an unarmed American drone reported lost near Libya's capital last month was in fact shot down by Russian air defenses and it is demanding the return of the aircraft's wreckage, US Africa Command says.

Published 08 Dec, 2019 12:00am

North Korea says US denuclearization talks 'out of negotiation table'

North Korea on Saturday said denuclearization talks with the United States were "out of the negotiation table," while slamming European UN Security Council members who had recently denounced its "provocative" ballistic missile launches.

Published 08 Dec, 2019 12:00am

Iraqis protest to defy 'slaughter' in Baghdad as drone hits cleric's home

Iraq's anti-regime protesters gathered in the capital and south on Saturday, grieving but defiant after 17 were killed in an attack demonstrators described as "slaughter".

Published 08 Dec, 2019 12:00am

Stocks

Foreigners dump nearly $10 billion of South Africa assets in 2019

Foreign investors have ditched more than 141 billion rand ($9.6 billion) of South African stocks and bonds this year - the biggest annual selloff in at least a decade, data from the Johannesburg Stock Exchange showed.

Published 08 Dec, 2019 12:00am

Stocks

Top US stockpickers keep low profile

The co-managers of the best stock mutual fund of this decade work out of a small office in Los Angeles, rarely talk with the financial media and have never appeared as guests on CNBC looking to raise their profile.

Published 08 Dec, 2019 12:00am

Stocks

Foreigners buy Japanese stocks for eighth straight week

Foreigners were net buyers of Japanese stocks for an eighth consecutive week on hopes there would be some progress in US-China trade talks and expectations of fiscal stimulus to boost the domestic economy.

Published 08 Dec, 2019 12:00am

Stocks

Russians face market skills test for right to buy foreign stocks

Millions of Russians will have to take a test to prove they understand financial markets if they want to carry on trading foreign stocks, under a central bank plan aimed at stemming potentially heavy losses among retail investors.

Published 08 Dec, 2019 12:00am

Stocks

Wall Street climbs on solid jobs data, trade hopes

Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite. All three major US stock indexes gained ground, hovering within 1% of reco

Published 08 Dec, 2019 12:00am

Money & Banking

Canadian dollar weakens

The Canadian dollar weakened against its US counterpart on Friday, unwinding much of this week's gains after data showing a slump in domestic jobs suggested the economy was not as resilient as the Bank of Canada had hoped.

Published 08 Dec, 2019 12:00am

Money & Banking

Speculators up long bets on dollar to five-month high

Speculators raised their net long bets on the US dollar in the latest week to a five-month high, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday.

Published 08 Dec, 2019 12:00am

Money & Banking

Most African currencies seen stable to firmer in week ahead

The Kenyan shilling is expected to be steady against the dollar in the week ahead supported by hard currencies sent home for the holidays by Kenyans who live abroad, while the Zambian kwacha will also be stable.

Published 08 Dec, 2019 12:00am

Money & Banking

Brazilian real posts biggest weekly rise in six weeks

Brazil's real rallied 1% against the dollar on Friday, in its biggest weekly rise in six weeks, as traders continued to buy the currency after it hit a record low last week.

Published 08 Dec, 2019 12:00am

Money & Banking

Bullish bets on Asian currencies recede; yuan bears re-emerge

Investor sentiment towards most Asian currencies, especially the Chinese yuan, turned sour over the past two weeks, a Reuters poll showed, on fading hopes for a quick truce in the Sino-US trade spat ahead of impending tariffs on China.

Published 08 Dec, 2019 12:00am

Money & Banking

Dollar shines after blockbuster US jobs report

The dollar gained on Friday after five straight days of losses, lifted by data showing the US economy created many more jobs than expected in November, backing the Federal Reserve's stance of keeping interest rates on hold after cutting them three times t

Published 08 Dec, 2019 12:00am

Cotton & Textile

Cotton prices rise on renewed buying by mills

Cotton prices improved on the local market on Saturday due to mills' renewed buying to replenish their stock, dealers said. The official spot rate maintained overnight level Rs 8800, they added. In ready session, about 10,000 bales of cotton changed hands

Published 08 Dec, 2019 12:00am

Commodities

Algeria buys 500,000 tonnes of wheat

Algeria's state grains agency OAIC has purchased about 500,000 tonnes of milling wheat in an international tender that closed on Wednesday, European traders said on Thursday. Initial unconfirmed trade estimates put the purchase at about 480,000 tonnes to

Published 08 Dec, 2019 12:00am

Energy

Asia's naphtha halts falls, gasoline edges higher

Asia's naphtha crack edged higher on Thursday after falling for three consecutive sessions, boosted by expectations of near-term supply shortages, trade sources said. Signs of improved naphtha output following maintenance shutdowns helped ease naphtha cra

Published 08 Dec, 2019 12:00am

Football

Liverpool seal Christmas No 1 spot as Tottenham run riot

Rampant Liverpool beat Bournemouth 3-0 to lock down the Christmas number one spot ahead of Saturday's Manchester derby as Jose Mourinho's Tottenham blitzed Burnley 5-0 to climb to fifth in table. Interim boss Duncan Ferguson lifted Everton's spirits, cond

Published 08 Dec, 2019 12:00am

Cricket

Anderson, Bairstow return for England tour of South Africa

James Anderson was recalled by England on Saturday for their upcoming tour of South Africa after recovering from a calf injury, while his fellow bowler Mark Wood and wicketkeeper Jonny Bairstow also returned to the squad.

Published 08 Dec, 2019 12:00am

Cricket

Play abandoned due to dangerous MCG pitch

Play was abandoned Saturday during a domestic game due to a dangerous pitch at the Melbourne Cricket Ground, just weeks before it is due to host the traditional Boxing Day Test.

Published 08 Dec, 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 23	252.10

Gainers
Losers
Leaders

Stock	Price
Dewan Sugar / Dec 23 Dewan Sugar Mills Limited(DWSM)	6.60 ▲ 1.00 (17.86%)
Khalid Siraj / Dec 23 Khalid Siraj Textile Mills Limited(KSTM)	10.60 ▲ 1.00 (10.42%)
Dawood Hercules / Dec 23 Dawood Hercules Corporation Limited(DAWH)	223.96 ▲ 20.36 (10.00%)
Masood Textile / Dec 23 Masood Textile Mills Limited(MSOT)	55 ▲ 5.00 (10.00%)
TRG Pak Ltd / Dec 23 TRG Pakistan Limited(TRG)	61.15 ▲ 5.56 (10.00%)
Frontier Ceram / Dec 23 Frontier Ceramics Limited(FRCL)	38.21 ▲ 3.47 (9.99%)
Liven Pharma / Dec 23 Liven Pharma Limited(LIVEN)	93.56 ▲ 8.50 (9.99%)
Mandviwala / Dec 23 Mandviwala Mauser Plastic Industries(MWMP)	15.08 ▲ 1.37 (9.99%)
Dawood Lawrencepur / Dec 23 Dawood Lawrencepur Limited(DLL)	240.90 ▲ 21.24 (9.67%)

Stock	Price
First Elite Cap.Mod / Dec 23 First Elite Capital Modaraba(FECM)	6 ▼ -0.85 (-12.41%)
Leather Up Ltd. / Dec 23 Leather Up Limited(LEUL)	27.16 ▼ -3.02 (-10.01%)
Dar-es-Salaam / Dec 23 Dar-es-Salaam Textile Mills Limited(DSML)	42.01 ▼ -4.58 (-9.83%)
Chashma / Dec 23 Chashma Sugar Mills Limited(CHAS)	62.55 ▼ -6.65 (-9.61%)
Mehmood Tex / Dec 23 Mehmood Textile Mills Limited(MEHT)	635 ▼ -65.00 (-9.29%)
Bela Auto / Dec 23 Bela Automotives Limited(BELA)	157.80 ▼ -15.89 (-9.15%)
Oilboy Energy / Dec 23 Oilboy Energy Limited(OBOY)	10.36 ▼ -1.03 (-9.04%)
Hallmark Co. / Dec 23 Hallmark Company Limited(HCL)	703.02 ▼ -65.93 (-8.57%)
Dadabhoy Cement / Dec 23 Dadabhoy Cement Industries Limited(DBCI)	5.98 ▼ -0.56 (-8.56%)

Stock	Volume
WorldCall Telecom / Dec 23 Worldcall Telecom Limited(WTL)	99,942,750 ▲ 0.08
Pace (Pak) Ltd. / Dec 23 Pace (Pakistan) Limited(PACE)	43,280,462 ▲ 0.21
K-Electric Ltd. / Dec 23 K-Electric Limited(KEL)	40,644,312 ▲ 0.10
Sui South Gas / Dec 23 Sui Southern Gas Company Limited(SSGC)	40,619,788 ▼ -0.17
Cnergyico PK / Dec 23 Cnergyico PK Limited(CNERGY)	30,423,419 ▲ 0.13
B.O.Punjab / Dec 23 The Bank of Punjab(BOP)	29,495,012 ▲ 0.07
Pak Elektron / Dec 23 Pak Elektron Limited(PAEL)	23,717,939 ▲ 2.43
Symmetry Group / Dec 23 Symmetry Group Limited(SYM)	21,897,051 ▲ 0.16
Hub Power Co. / Dec 23 The Hub Power Company Limited(HUBC)	20,727,996 ▲ 0.43

Markets →

Budget 2024-25: income tax calculator for FY25

Most Popular