News Archives for Print - 2019-12-16

Print - 2019-12-16

Articles

Human development in Pakistan

The Global Human Development Report (GHDR) of the UNDP was released recently in Islamabad. This report constructs a Human Development Index (HDI) for 189 countries. This ranking of countries has emerged as a key measure of the level of development in rela

Updated 17 Dec, 2019 09:24am

Talks between Saudi Arabia and Qatar good for region: Iran

Talks between Saudi Arabia and Qatar to heal their two-year rift are a good development for the whole Gulf region, Iranian Foreign Minister Mohammad Javad Zarif said on Sunday in Doha. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomat

Published 16 Dec, 2019 12:00am

Second BD factory fire in a week claims more lives

At least 10 people died in a factory fire outside the Bangladeshi capital Dhaka, officials said Sunday, the second deadly industrial blaze in four days. The flames engulfed a small fan factory in the Gazipur industrial district on Sunday evening, with fir

Published 16 Dec, 2019 12:00am

PM's Saudi visit to usher new era of bilateral ties: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan has said that the visit of Prime Minister Imran Khan to Saudi Arabia will usher in new era of cementing bilateral relations. In a tweet on Sunday, the Special As

Published 16 Dec, 2019 12:00am

Money & Banking

Modest recovery

The rupee depicted modest recovery against the dollar on the money market during the week, ended on Dec 14, 2019.

Published 16 Dec, 2019 12:00am

Stocks

Futures spread down by 453bps

The futures spread declined by 453bps to 7.28 percent on the last day of the outgoing week.

Published 16 Dec, 2019 12:00am

Stocks

Mixed trend witnessed

Pakistan Stock Exchange witnessed mixed trend during the outgoing week ended on December 13, 2019.

Published 16 Dec, 2019 12:00am

Indonesia files lawsuit against EU at WTO over palm oil

Indonesia has filed a lawsuit at the World Trade Organization against the European Union, claiming the bloc's restrictions on palm oil-based biofuel are unfair, the country's trade ministry said in a statement on Sunday. The European Commission concluded

Published 16 Dec, 2019 12:00am

Dasu hydropower project's transmission line: WB all set to extend $700 million additional financing

The World Bank is all set to extend $ 700 million additional financing for transmission line for Dasu Hydropower Project. This has been conveyed by World Bank Country Director, Patchamuthu Illangovan in a letter to Secretary Ministry of Water Resources, M

Published 16 Dec, 2019 12:00am

Thar block VI included in CPEC: minister

Sindh Minister for Energy Imtiaz Ahmed Shaikh has said that block VI of Thar coal has huge potential to produce gas, urea/fertilizer and liquid fuel (diesel). The minister said that owing to this reason Thar block VI had been included in the China Pakista

Published 16 Dec, 2019 12:00am

Six dead in protests against Indian citizenship law

Angry protesters in northeast India vowed Sunday to keep demonstrating against a contentious citizenship law as the death toll from bloody clashes sparked by the bill rose to six. Tension remained high at the epicentre of the unrest in Assam state's bigge

Published 16 Dec, 2019 12:00am

Four key bills to be tabled in NA today

The National Assembly would take up as many as four bills including "The Banks (Nationalization) (Amendment) Bill, 21019" for passage today (Monday).

Published 16 Dec, 2019 12:00am

Afghanistan: US to announce 4,000-troop drawdown

The Trump administration will announce as early as this week plans to withdraw around 4,000 troops from Afghanistan, US media reported. Talks between the United States and the Taliban resumed a week ago as the parties sought a path to reduce violence or e

Published 16 Dec, 2019 12:00am

PM leaves for Bahrain today

Prime Minister Imran Khan will be travelling to Bahrain today (Monday) to attend country's 'National Day' as a guest on the invitation of King Hamad bin Isa Al-Khalifa and will be awarded the highest civil award: "King Isa Award".

Published 16 Dec, 2019 12:00am

PM, MBS take stock of situation

As part of regular exchanges at the leadership level between Pakistan and the Kingdom of Saudi Arabia, Prime Minister Imran Khan visited Saudi Arabia and held wide-ranging consultations with Crown Prince Mohammed Bin Salman (MBS) covering bilateral matter

Published 16 Dec, 2019 12:00am

Wheat flour body involved in fixing prices: CCP

The Competition Commission of Pakistan (CCP) has found that the wheat flour association was involved in fixing prices of wheat flour and sharing commercially sensitive information and strategic data among its members.

Published 16 Dec, 2019 12:00am

Israel eyes Dubai expo as 'portal' to Arab world

With the world's largest trade fair opening in an Arab country for the first time next year, Israel is stepping up preparations, hoping to boost nascent ties with regional neighbours.

Published 16 Dec, 2019 12:00am

Johnson eyes parliament vote before Christmas

British Prime Minister Boris Johnson will "get Brexit done" by Jan. 31 and then agree a new trade deal with the European Union by the end of 2020, cabinet office minister Michael Gove said on Sunday, vowing to deliver on the government's top priority.

Published 16 Dec, 2019 12:00am

UN summit wraps up: Major states snub calls for climate action

A handful of major states resisted pressure on Sunday to ramp up efforts to combat global warming as a UN climate summit ground to a close, angering smaller countries and a growing protest movement that is pushing for emergency action.

Published 16 Dec, 2019 12:00am

Telecommunication

Internet users may face 'service degradation'

Pakistan Telecommunication Company Ltd (PTCL) on Sunday said that internet users may face "some service degradation" due to a technical fault in submarine cable AAE-1 at Doha.

Published 16 Dec, 2019 12:00am

US expelled two Chinese diplomats on spying claims

The United States quietly expelled two Chinese embassy officials in September after they drove onto a sensitive military base in Virginia, The New York Times reported Sunday. The newspaper, which cited multiple people with knowledge of the episode, said i

Published 16 Dec, 2019 12:00am

Zardari's treatment at Karachi's hospital to continue

A few medical reports of former president Asif Ali Zardari, who has been undergoing medical treatment at the Ziauddin Hospital in Karachi, have been released on Sunday.

Published 16 Dec, 2019 12:00am

Letters

Pakistan Railways

In the introduction to second part of his article "A regulatory framework for Pakistan Railways - II" carried by the newspaper on Friday, Dr Omer Javed has highlighted a very key point in relation to state of Pakistan Railways. According to him, "Pakistan

Updated 16 Dec, 2019 06:16am

Articles

US, China mini-deal offers 'breathing space' for Chinese economy

A truce in the US-China trade war offers Xi Jinping breathing space as he faces a slowing economy and political trouble in Hong Kong, but experts warn 2020 will be another tough year for the Chinese president. The pared-down "phase one" deal announced Fri

Updated 16 Dec, 2019 06:31am

Articles

Reversing the brain drain

Tania Adrius is back in Pakistan. This news has caught the media by storm in Pakistan. Why? Because very few top-notch Pakistanis working in top global companies leave it all for their country. Not entirely true. Many lesser known patriotic overseas Pakis

Updated 16 Dec, 2019 06:22am

Articles

Economic predictions

Predictions on the movement of key macroeconomic indicators based on policies under consideration/implementation are the norm as they provide a clear path to achieving specified desired targets. Multilateral agencies as and when they provide loans to supp

Updated 16 Dec, 2019 05:43am

New media curbs

This government is at it again. Prime Minister's Adviser on Information Dr Firdous Ashiq Awan told journalists that the Prime Minister has given a task to the law minister to sit with the Pakistan Electronic Media Regulatory Authority (Pemra) officials to

Updated 16 Dec, 2019 06:28am

Endorsement of government policies

At a time when there is a lot of criticism on government's economic policies from various quarters, Citibank, Pakistan has opted to be different and given a ringing endorsement to economic policies of the present government. Talking to journalists at Citi

Updated 16 Dec, 2019 06:28am

Fertiliser imports down by 25.60 percent in four months

The fertilizers manufactured imports into the country during first four months of current financial year decreased by 25.60 percent as compared the imports of the corresponding period of last year. During the period from Jul-October, 2019, about 889,395 m

Published 16 Dec, 2019 12:00am

Business & Economy

Chinese expert terms metro train a boon for Pakistan's economy

The first ever mass rapid transit train in Lahore will help Pakistan to better address its growing demand for public transportation, a Chinese expert said. The Orange Line Metro Train was put through its first test run last week after the completion of th

Published 16 Dec, 2019 12:00am

Bilawal pays rich tributes to martyrs of APS

Chairman Pakistan Peoples Party Bilawal Bhutto Zardari paid rich tribute to the innocent martyrs of Army Public School (APS), Peshawar on the 5th anniversary of the tragic attack that led to the deaths off 132 students at the hands of terrorists.

Published 16 Dec, 2019 12:00am

APS tragedy: speaker terms 16th December 2014 a black day in country's history

Speaker National Assembly Asad Qaiser has said that 16th December, 2014 was a black day in Pakistan's history. He stated that this day is unforgettable for the tragedy that befell in Pakistan and the collective pain and grief that afflicted to this nation

Published 16 Dec, 2019 12:00am

Minister reviews arrangements of anti polio drive in Faisalabad

Punjab Minister for Excise & Taxation Hafiz Mumtaz Ahmad has said that the anti polio campaign required deep attention and utmost responsibility to complete eradicate the polio virus from the country. He was presiding over a meeting at Commissioner Office

Published 16 Dec, 2019 12:00am

Buzdar pays tribute to martyrs of APS

Chief Minister Punjab Sardar Usman Buzdar in his message, on the occasion of fifth anniversary of martyrs of Army Public School (APS) Peshawar, has said that students and teachers of APS laid down their precious lives for the sake of attaining great objec

Published 16 Dec, 2019 12:00am

Anti-polio campaign begins today at CHJ

The next anti-polio campaign has been inaugurated at Children Hospital Jhang(CHJ) road which would be continued from December 16 to 20. Divisional Commissioner Ishrat Ali, Deputy Commissioner Muhammad Ali, Parliamentarians Faizullah Kamoka, Sh Khurram She

Published 16 Dec, 2019 12:00am

Business & Economy

'Majority of KP trade bodies support BMP in FPCCI polls'

Majority of the chambers of commerce and traders' associations of Khyber Pakhtunkhwa has extended support to the Businessmen Panel (BMP) for the upcoming annual elections of the Federation of Chamber and Commerce and Industry (FPCCI) here the other day.

Published 16 Dec, 2019 12:00am

Salim Baryaar meets Elahi

Pakistan Muslim League (PML) Punjab Senior Vice-President Ch Salim Baryaar called on Speaker Punjab Assembly Ch Parvez Elahi at his residence here on Sunday. During the meeting, views were exchanged about prevailing political situation of the country and

Published 16 Dec, 2019 12:00am

Sindh government seeks NGOs' support for educating children: Saeed

Sindh Information, Archives and Labour Minister Saeed Ghani has sought the assistance of bona fide charitable organizations to provide education to children of every laborer in the province as the provincial government will soon adopt the concept of unive

Published 16 Dec, 2019 12:00am

PMYAP to launch 'National Youth Pulse Portal' for youth

Prime Minister Youth Affairs Programme (PMYAP) has planned to launch 'National Youth Pulse Portal' a new project to provide employment opportunity to unemployed and certified skilled youth.

Published 16 Dec, 2019 12:00am

Business & Economy

KP Mineral department: AGP detects irregularities worth Rs 364.128 million

The Auditor General of Pakistan (AGP) has detected three cases of the illegal operation, unauthorized sale and wasteful expenditure to the tone of Rs364.128 million in the accounts of the Mines and Mineral Development Department of Khyber Pakhtunkhwa duri

Published 16 Dec, 2019 12:00am

Genuine grievances of party workers: Buzdar vows to visit every district of Punjab

Presidents of three regions of PTI and general secretaries under the leadership of Chief Organizer Saifullah Niazi called on Punjab Chief Minister Usman Buzdar at his office on Sunday to discuss matters pertaining to make the ruling party more vibrant and

Published 16 Dec, 2019 12:00am

Taxes

962 smuggled mobiles seized in Peshawar

The Customs Intelligence and Investigation Department on Sunday successfully seized 962 illegal smuggled mobiles worth of millions of rupees from armed persons during an operation in Rind Road Peshawar. According to details, armed men, carrying illegal mo

Published 16 Dec, 2019 12:00am

Country to achieve bumper wheat crop this season

Owing to multiple factors that includes government initiatives to enhance the output of major crops, favourable weather conditions and timely harvesting of seasonal crops, country was expecting to harvest bumper wheat crop of 27 million tonnes during curr

Published 16 Dec, 2019 12:00am

Wrong parking creates hurdles in smooth flow of traffic: CTO

Chief Traffic Officer (CTO) Muhammad Bin Ashraf said wrong parking was creating hurdles in smooth flow of traffic and asked wardens and field officers to take strict action against wrong parking doers.

Published 16 Dec, 2019 12:00am

Firdous terms Murad 'Puppet CM'

Special Assistant to Prime Minister on Information Dr Firdous Ashiq Awan on Sunday dubbed Syed Murad Ali Shah a 'puppet chief minister'. Addressing the oath-taking ceremony of newly elected office bearers of Hafizabad Press Club at Hafizabad, Dr Firdous t

Published 16 Dec, 2019 12:00am

Masses real source of power: Bilawal

Pakistan Peoples' Party (PPP) chairman Bilawal Bhutto Zardari on Sunday said that masses are the real source of power and his party cannot tolerate injustice to the people. Addressing party's workers convention in Quetta on Sunday, he said that the Bhutto

Published 16 Dec, 2019 12:00am

Energy

KE asks Sindh government to clear dues

K-Electric has urged the Sindh Chief Minister Syed Murad Ali Shah for support in expediting the release of outstanding dues of different departments of Government of Sindh which what the power company claimed have increased up to Rs19.2 billion.

Published 16 Dec, 2019 12:00am

Rawalpindi's EPD lacks air quality monitors

Punjab Environmental Protection Department (EPD) Rawalpindi has no air quality monitors to gauge pollution in the garrison city of over 1.8 million populations with increasing number of automobiles, urbanization and settlements spoiling the ecology.

Published 16 Dec, 2019 12:00am

Cultivation of oilseed crops to be promoted in Punjab

Punjab Agriculture department is taking up a well knitted project costing more than Rs5 billion for the promotion of oilseed crops cultivation like sunflower, canola and sesame across the Punjab.

Published 16 Dec, 2019 12:00am

'Bachaa Party' opens in Multan

In addition to its retail presence in Karachi and Lahore, the Pakistan's biggest one stop shop for kids brings the party to Multan, launching its first Multan store at Gulgasht Avenue.

Published 16 Dec, 2019 12:00am

Agriculture department for reclaiming of water-logging hit land

The Agriculture department said that special attention has focused on reclamation of water-logging and salinity hit land in different district of the Punjab.

Published 16 Dec, 2019 12:00am

Punjab CM takes notice of various incidents

Chief Minister Punjab Sardar Usman Buzdar by taking notice of firing incident at the house of retired army man in the premises of Kakrali Police Station Gujrat and also sought a report from RPO Gujranwala. He further directed to take stern legal action ag

Published 16 Dec, 2019 12:00am

Cotton & Textile

COTTON WEEKLY REVIEW: Prices remain stable

The prices of cotton remained stable over all. There is uncertainty in the international market due to the contradictory statements of American President Donald Trump on "trade war". It looks that hard times of local textile industry is going to be over w

Published 16 Dec, 2019 12:00am

Business & Economy

WCCI, Smeda hold skill training for women entrepreneurs

Women Chamber of Commerce and Industry in collaboration with Small and Medium Enterprises Development (SMEDA) under its National Business Development Program organized a skill training workshop for women entrepreneurs belonging to Peshawar and erstwhile F

Published 16 Dec, 2019 12:00am

Muslims in Assam, IOK just one step away from extermination: US expert

An internationally acclaimed expert on genocide has grimly warned that Muslims in the Indian state of Assam and occupied Kashmir are just one step away from extermination, as he drew parallels between Narendra Modi's government and Germany under the Nazis

Published 16 Dec, 2019 12:00am

QWP pays tribute to martyrs of APS mayhem

Qaumi Watan Party (QWP) chairman Aftab Ahmad Khan Sherpao on Sunday paid tributes to the martyrs of the Army Public School (APS) attack on the occasion of the fifth anniversary of the gruesome incident. In a statement issued from Watan Kor, he recalled th

Published 16 Dec, 2019 12:00am

Business & Economy

Punjab governor optimistic about extension in GSP Plus status

Terming his recent visit to the Europe as 'highly positive and timely', Governor Punjab Chaudhry Mohammad Sarwar has expressed optimism that Pakistan will get extension which would be a great success of Pakistan on economic front and also good news for th

Published 16 Dec, 2019 12:00am

Prices of essential kitchen items witness mixed trend

Mixed trend in prices essential kitchen items, including vegetable, pulses, live chicken/meat, eggs, fruits, sugar and flour was witnessed in local market, according to a survey conducted by Business Recorder here on Sunday.

Published 16 Dec, 2019 12:00am

Nationwide drive against polio begins today

A nationwide campaign against polio will be launched today (Monday) and polio drops are going to be administered around 40 million children below five years of age in next three days. Over 260,000 health workers will take part in polio vaccinate campaign

Published 16 Dec, 2019 12:00am

Business & Economy

Traders reject increase in properties' rents

Local traders on Sunday strongly protested against unprecedented and increase in properties rents by City District government and demanded of the government to immediate withdraw the hike, otherwise they will launch protest campaign across the province.

Published 16 Dec, 2019 12:00am

Parents' Day ceremony held at Navy Cadet College Petaro

58th Parents' Day Ceremony was held at Cadet College Petaro.Chief of the Naval Staff, Admiral Zafar Mahmood Abbasi, graced the occasion as Chief Guest. While addressing the gathering, Chief of the Naval Staff extended felicitations to the prize winners an

Published 16 Dec, 2019 12:00am

Brief Recordings

Pakistan Oilfields Limited (POL)

A subsidiary of the Attock Oil Company Limited (AOC) and a key player in the local E&P oil and gas sector, Pakistan Oilfields Limited (PSX: POL) is primarily engaged in the exploration, drilling and production of crude oil and gas in the country. After it

Updated 16 Dec, 2019 06:24am

Turkey to sign off on military pledge to Libya

Turkey moved closer to military support for Libya's internationally recognised government late on Saturday when a bilateral deal that provides for a quick reaction force if requested by Tripoli was sent to parliament.

Published 16 Dec, 2019 12:00am

Indonesian martial art pencak silat gets UNESCO heritage status

Anwar bin Sholeh had something to cheer when he showed up at a Jakarta training centre to practice pencak silat - the Indonesian martial art was added to UNESCO's prestigious heritage list.

Published 16 Dec, 2019 12:00am

Smog forces schools shut in Iran

Air pollution forced schools to close on Sunday in parts of Iran including Tehran, as the capital lay under a thick cloud of smog considered hazardous to health. The pollution level in the capital was "unhealthy for sensitive groups" and officials warned

Published 16 Dec, 2019 12:00am

Comey admits 'real sloppiness' in FBI Russia warrant request

Former FBI director James Comey acknowledged Sunday "real sloppiness" in the bureau's handling of a warrant to surveil a Trump campaign advisor with ties to Russia. The advisor, Carter Page, was an early focus of the national security probe that the FBI o

Published 16 Dec, 2019 12:00am

Dozens hurt in Lebanon clashes as demonstrators dig in

Thousands protested in Lebanon's capital Sunday, while Interior Minister Raya El-Hassan ordered security forces to open a "rapid and transparent" enquiry after dozens were wounded in clashes the night before. Undaunted by the violence, demonstrators flood

Published 16 Dec, 2019 12:00am

Global Business Economy

Brazil opens trade centre in Israel

Brazil opened a trade office in occupied Jerusalem Sunday, in a ceremony attended by President Jair Bolsonaro's son and Israel's Prime Minister Benjamin Netanyahu.

Published 16 Dec, 2019 12:00am

Libya closes Egypt embassy citing 'security' reasons

Libya's embassy in Egypt was closed indefinitely from Sunday, the mission said on its Facebook page citing security concerns. "The embassy of Libya in Cairo. suspended its work due to security reasons starting Sunday and until further notice," a statement

Published 16 Dec, 2019 12:00am

Cuba reluctant to cut ties with US, says top official

Cuba is bracing for the possibility of the United States breaking off diplomatic ties but will seek to maintain them nonetheless, Havana's top diplomat in charge of relations with Washington told AFP.

Published 16 Dec, 2019 12:00am

Child killed as quake strikes Philippines

A powerful earthquake hit the southern Philippine island of Mindanao on Sunday, killing a child, injuring dozens and damaging buildings in an area still recovering from a string of deadly quakes in October.

Published 16 Dec, 2019 12:00am

24 killed in DR Congo gold mine collapse

Twenty-four people were killed when a landslide engulfed a gold mine in DR Congo's eastern Ituri province after days of torrential rain battered the region, an official said Sunday. "Our teams on the ground .. have pulled out 24 bodies and saved two peopl

Published 16 Dec, 2019 12:00am

French New Wave icon Anna Karina dies at 79

Danish-French actress Anna Karina, muse of New Wave director Jean-Luc Godard, has died of cancer at the age of 79, her agent told AFP on Sunday. Karina, who epitomised Sixties chic with her elfin features and big kohl-rimmed blue eyes, starred in seven fi

Published 16 Dec, 2019 12:00am

Tensions mount over French transport strike

Tensions between the French government and unions opposed to pension reforms mounted on the 11th day of a crippling transport strike Sunday, with the prime minister warning the French would not tolerate being stranded at Christmas.

Published 16 Dec, 2019 12:00am

Money & Banking

Electronic Swiss franc? Not so fast

The Swiss government took a downbeat view of creating a central bank digital currency for public use, saying it could do more harm than good and destabilise the financial system.

Published 16 Dec, 2019 12:00am

Money & Banking

China's bitcoin miners scoop up greater production power

China's bitcoin miners now control two-thirds of the crypto network's processing power, research showed on Wednesday, a growing share that is likely to benefit the country's miners.

Published 16 Dec, 2019 12:00am

Energy

Aramco gains aid Saudi; other Gulf bourses quiet

Oil giant Aramco helped carry the Saudi stock market higher on Sunday, as it extended gains for the third day, while other major Gulf indexes were little changed. Saudi's benchmark index rebounded 0.6%, with Saudi Aramco closing up 1.6% at 37.4 riyals.

Published 16 Dec, 2019 12:00am

Money & Banking

Cyprus tops list of EU states falling short on market abuse rules

Cyprus fared worst in a "peer review" of national regulators in the European Union for failing to fully comply with rules to stamp out abuses in markets, the bloc's securities watchdog said on Thursday. Cyprus was the only EU member state found to be non-

Published 16 Dec, 2019 12:00am

Money & Banking

JPMorgan warns of rise in emerging market sovereign distressed debt

More emerging countries will be hit by debt woes in 2020, curbing the returns for the JPMorgan index of dollar-denominated sovereign bonds, the bank's head of emerging markets research said, last week.

Published 16 Dec, 2019 12:00am

Global Business Economy

With hashes and hedges, power-hungry crypto miners court investors

The old image of bitcoin miners is of young techies in their bedrooms, hunched over laptops that solve maths puzzles to earn new coins. Now they're more likely to be savvy startups with ultra-high-speed chips and massive, power-guzzling machines.

Published 16 Dec, 2019 12:00am

Commodities

Elliott-backed Triple Flag scraps IPO

Triple Flag Precious Metals Corp on Wednesday became the latest private equity-backed venture to scrap a planned stock market launch, citing lackluster demand from investors in a year already dominated by several high-profile failures.

Published 16 Dec, 2019 12:00am

Money & Banking

Egypt's new sovereign fund cherry-picks assets to lure investors

Egypt's newly formed sovereign wealth fund plans to take control of some of the government's most promising assets in industries such as power and real estate, to bring in private investors to develop them, its chief executive said.

Published 16 Dec, 2019 12:00am

Money & Banking

Brazil's XP to boost banking unit after IPO; shares pop in US debut

Shares of XP Inc, Brazil's largest digital broker, closed up more than 25% in their Nasdaq debut on Wednesday, and the company said it will use the $1 billion proceeds from the stock offering to boost its banking unit.

Published 16 Dec, 2019 12:00am

Stocks

Wall Street week ahead: Trade deal removes major hurdle for rally in Apple and tech

US President Donald Trump's limited trade deal with China removes a major hurdle for Apple and other technology stocks that have already surged this year to record highs.

Published 16 Dec, 2019 12:00am

Global Business Economy

South Africa's businesses marooned by rolling blackouts

As if choreographed by a puppet master, stores along the aisle of a Johannesburg mall hurriedly shut their doors one by one as soon as power outages strike slap-bang in the middle of the day. "We have to close the store immediately because people can stea

Published 16 Dec, 2019 12:00am

Global Business Economy

German union calls for pre-Christmas Amazon strike

Trade union Verdi called for workers at a key Amazon logistics centre in Germany to go on strike over the crucial final shopping days before Christmas, demanding better pay and conditions for workers there.

Published 16 Dec, 2019 12:00am

Telecommunication

Chinese borrowers drown in online lending's 'bottomless pit'

Telecoms engineer Peng Jiezhao's taste for new smartphones and expensive sneakers seemed like a harmless, if expensive, hobby - until he started borrowing money from Chinese online lending sites to feed it.

Published 16 Dec, 2019 12:00am

Telecommunication

Telenor says Huawei will still play role in 5G rollout

Telenor reiterated on Sunday Huawei would be involved in building Norway's 5G network along with Ericsson, one of several companies to continue working with the Chinese company despite US pressure. Still, on Friday, the head of Telenor Norway, Petter-Boer

Published 16 Dec, 2019 12:00am

Global Business Economy

Saudi unemployment dips to 12 percent in Q3

Unemployment among Saudi Arabian citizens fell to 12% in the third quarter of 2019 from 12.3% in the previous quarter, moving further away from a record high of 12.9% in 2018, official figures released on Sunday showed.

Published 16 Dec, 2019 12:00am

Global Business Economy

US-China trade deal 'totally done,' will expand US exports: Lighthizer

The "phase one" US-China trade deal will nearly double US exports to China over the next two years and is "totally done" despite the need for translation and revisions to its text, US Trade Representative Robert Lighthizer said on Sunday.

Published 16 Dec, 2019 12:00am

Global Business Economy

California governor rejects troubled utility's bankruptcy plan

California's governor has rejected a plan by the state's largest utility to emerge from bankruptcy, which included a $13.5 billion payout for victims of a series of wildfires blamed on the company's faulty equipment.

Published 16 Dec, 2019 12:00am

Energy

Trans Mountain oil pipeline faces latest legal challenge in Canada court

The Canadian government-owned Trans Mountain oil pipeline expansion faces its latest legal hurdle in a federal court this week as indigenous groups appeal the pipeline's expansion, arguing the government did not adequately consult them before approving it

Published 16 Dec, 2019 12:00am

Global Business Economy

China's BAIC raising Daimler stake to unseat Geely

Daimler's main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources told Reuters.

Published 16 Dec, 2019 12:00am

Energy

Oman sells $1bn stake in electricity company to Chinese buyer

Oman's state-owned Electricity Holding Company, also known as Nama, has sold a 49% stake in Oman Electricity Transmission Co. to State Grid Corporation of China, raising around $1 billion, Mansoor Al Hinai, a Nama spokesman, said on Sunday.

Published 16 Dec, 2019 12:00am

Global Business Economy

Egypt expands financing for distressed tourism companies

Egypt's central bank is increasing its financing package to help distressed tourism companies and investors to 50 billion Egyptian pounds ($3.1 billion) from the current 5 billion pounds, it said on Sunday.

Published 16 Dec, 2019 12:00am

IT & Computers

Samsung to invest an extra $8 billion in China chip plant

Samsung Electronics will increase investment at its chip factory in China by $8 billion to boost production of NAND flash memory chips, Chinese media reported on Tuesday. The South Korean group's investment comes as the memory market is expected to reboun

Published 16 Dec, 2019 12:00am

Global Business Economy

AB InBev's $11 billion Aussie asset sale to Asahi hits hurdle

Anheuser-Busch InBev's $11 billion asset sale to Japan's Asahi could hurt competition in Australia's cider sector and may also do the same for beer, the country's competition regulator warned on Thursday.

Published 16 Dec, 2019 12:00am

Money & Banking

Credit Suisse lowers profit targets as investment bank heads into the red

A year after completing a major restructuring, Credit Suisse's Chief Executive Tidjane Thiam has cut the Swiss bank's profitability targets for this year and next, blaming a drop in deal making, negative interest rates and global trade tensions for the cl

Published 16 Dec, 2019 12:00am

Stocks

Nomura aims for more sustainable Wall Street role

Nomura's topsy-turvy history of trying to build a successful US investment bank has made it the butt of rivals' jokes. Now the Japanese group is taking another stab, buying renewable-energy boutique Greentech Capital Advisors. There's reason to think Nomu

Published 16 Dec, 2019 12:00am

Money & Banking

ING working on digital assets custody technology

Dutch bank ING is working on developing technology to help clients safely store digital assets, according to people familiar with the matter. The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank's sev

Published 16 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 22	252.10

Gainers
Losers
Leaders

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

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

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

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