News Archives for Print - 2019-12-21

Print - 2019-12-21

Articles

The only way forward: Unlocking exports

Pakistan economy is like an old car - it runs smoothly at slow pace and causes trouble at higher speed. The ADB in a recent working paper described this condition in terms of numbers. The paper estimates the balance of payment constrained growth at 3.8 pe

Updated 23 Dec, 2019 08:03am

Bilawal summoned by NAB

The National Accountability Bureau (NAB) has summoned Pakistan People's Party Chairman Bilawal Bhutto Zardari on December 24 in fake accounts probe for JV-Opal-225, which is said to be joint venture of the Zardari Group Ltd. The PPP chairman has been aske

Published 21 Dec, 2019 12:00am

Cost audit of fertilizer industry to be conducted

The government has reportedly decided to conduct cost audit of fertilizer industry prior to proposing reduction in urea prices, well-informed sources told Business Recorder.

Published 21 Dec, 2019 12:00am

FBR chief writes letter to heads of banks

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has written a letter to heads of banks, specifying that the tax department would seek information about banks' customers through adoption of special procedures and format.

Published 21 Dec, 2019 12:00am

Verdict reflects 'bias and personal animosity': Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan has said that the detailed special court verdict in the high treason case against former president General Pervez Musharraf (retd) is reflecting bias and persona

Published 21 Dec, 2019 12:00am

Khosa irked by 'malicious' campaign against judiciary

Reacting to Attorney General for Pakistan's (AGP) statement, Chief Justice Asif Saeed Khan Khosa has said "malicious campaign" against judiciary over General Pervez Musharraf (retd) case must be stopped.

Published 21 Dec, 2019 12:00am

Energy sector reforms: $80 million loan deal signed with EXIM Bank of Korea

The government of Pakistan and EXIM Bank of Korea have signed a loan agreement worth US$80 million for energy sector reforms. Minister for Economic Affairs, Muhammad Hammad Azhar witnessed the signing ceremony of loan agreement worth US$80 million with EX

Published 21 Dec, 2019 12:00am

Foreign banks: $1.049 billion procured in 5 months

The government procured $1.049 billion from foreign commercial banks (around 35 percent) out of total external loans of $2.961 billion in the first five months (July-Nov) of 2019-20 and around 56 percent more than the comparable period of last year ($1.86

Published 21 Dec, 2019 12:00am

State of economy: Government comes up with fresh stats

Federal Minister for Economic Affairs Hammad Azhar has released the latest statistics of the national economy that show the reduction of current account deficit up to 73 per cent. Hammad Azhar, in his Twitter messages, said that the country is brought out

Published 21 Dec, 2019 12:00am

Stocks

KSE-100 Index recovers: BRIndex100 inches up

Pakistan Stock Exchange Friday witnessed a mixed trend however closed on a positive note on the back of select buying at the fag end. BRIndex100 gained 13.11 points or 0.31 percent to close at 4,246.73 points. BRIndex100 touched intraday high of 4,280.29

Published 21 Dec, 2019 12:00am

Andrew Bailey named as BoE governor

Britain on Friday named its top financial regulator, Andrew Bailey, to lead the Bank of England and help shepherd the lacklustre economy through the dislocation of Brexit. Finance minister Sajid Javid said the former BoE deputy would succeed Mark Carney o

Published 21 Dec, 2019 12:00am

Brexit deal secures first win in new parliament

Britain's new parliament on Friday gave its initial approval to a revised EU divorce deal that sets up a high-stakes clash with Brussels over their future ties. The 358 to 234 vote paves the way for Prime Minister Boris Johnson to deliver on his winning g

Published 21 Dec, 2019 12:00am

Brokers required to have CFT policy well before promulgation of law: SECP bench

The Appellant Bench of Securities and Exchange Commission of Pakistan (SECP) has conveyed to stock market brokers that even prior to promulgation of Money Laundering and Countering Financing of Terrorism Regulations, 2018, brokers were required to have AM

Published 21 Dec, 2019 12:00am

AML/CFT: Supervisory board to be constituted

The Finance Division would constitute National Savings Anti Money Laundering/ Combating Financing Terrorism (AML/CFT) Supervisory Board to provide independent oversight of implementation of rules and take necessary enforcement actions against violations.

Published 21 Dec, 2019 12:00am

Pakistan rejects joint US-India statement

Pakistan on Friday rejected assertions in joint statement of U.S.-India 2+2 Dialogue and Joint Press Availability about the alleged cross border attacks on India side and also conveyed its concerns and rejection to the US.

Published 21 Dec, 2019 12:00am

US to resume military training programme

The Trump administration has approved a resumption of Pakistan's participation in a coveted US military training and educational program more than a year after it was suspended, the State Department said on Thursday.

Published 21 Dec, 2019 12:00am

Pakistan, Afghanistan jolted by strong 6.1 quake

A strong earthquake rattled Afghanistan and Pakistan on Friday afternoon, the US Geological Survey said, forcing residents into the streets in Kabul and Islamabad. The 6.1-magnitude quake hit around 50 kilometres (30 miles) southwest of Jurm in northern A

Published 21 Dec, 2019 12:00am

Protesters chant 'Remove Modi' after prayers at historic mosque

Chants of "Remove Modi" filled the air after Friday prayers at the historic Jama Masjid as protesters gathered to march toward New Delhi's centre, one of many demonstrations across India over a citizenship law critics say discriminates against Muslims.

Published 21 Dec, 2019 12:00am

Justice Waqar says only watches wrestling on TV

Peshawar High Court (PHC) Chief Justice Waqar Ahmed Seth on Friday said that he is unaware of the controversy caused by the verdict he wrote in the high treason case against former president General Pervez Musharraf (retd) as he only watched wrestling on

Published 21 Dec, 2019 12:00am

Dam fund: Instructions must be complied with, SBP tells banks

The State Bank of Pakistan (SBP) has asked banks for meticulous compliance with the directives issued on the Supreme Court of Pakistan and Prime Minister of Pakistan (SCP and PM) Diamer-Bhasha and Mohmand Dam Fund.

Published 21 Dec, 2019 12:00am

Clarification

A Spokesperson for the Power Division strongly refutes the news item "Pakistan Team in Istanbul to finalize deal with govt. Karkey" carried by Business Recorder where it has been misreported on self assumed notion that "there is an impression in of

Published 21 Dec, 2019 12:00am

KL summit: FO explains Pakistan's position

The Foreign Office said Friday that Pakistan did not participate in Kuala Lumpur Summit 'as time and efforts were needed to address the concerns of major Muslim countries regarding possible division in the Ummah'.

Published 21 Dec, 2019 12:00am

ICC to probe 'war crimes' in Palestinian territories

The International Criminal Court's chief prosecutor said Friday she wanted to open a full investigation into alleged war crimes in the Palestinian territories, sparking a furious reaction from Israel.

Published 21 Dec, 2019 12:00am

RMB transforming itself into a standard currency: ICBC CEO

Chief Executive Officer (CEO) Industrial and Commercial Bank of China (ICBC) Pakistan, Airdy Friday informed that RMB is now approaching its final frontiers, full convertibility and transformation into a normal currency used by companies and individuals i

Published 21 Dec, 2019 12:00am

'Media has destroyed my career': Barrister Hassan Niazi

Criticizing the role of media while covering the Punjab Institute of Cardiology (PIC) attack over a week ago, Prime Minister Imran Khan's nephew Barrister Hassaan Khan Niazi claimed that he was targeted and singled out "only because of his relationship" w

Published 21 Dec, 2019 12:00am

REAP seeks meeting with MNFS&R

Rice Exporters Association of Pakistan (REAP) has requested the Ministry of Commerce & Trade to arrange its meeting with the Ministry of the National Food Security and Research (MNFS&R) to seek solutions to the hardships being faced by the rice exporters

Published 21 Dec, 2019 12:00am

Business & Economy

Socioeconomic development of Balochistan top priority: PM

Prime Minister Imran Khan Friday said that the socio-economic development of Balochistan and uplifting living standard of people of the province, were among the government's priorities.

Published 21 Dec, 2019 12:00am

Reforms aimed at strengthening economy: NA Speaker

Speaker National Assembly, Asad Qaiser has said that the reforms initiated by the PTI government will help strengthen national economy and stand it on strong foots.

Published 21 Dec, 2019 12:00am

Hafiz Saeed pleads not guilty

Hafiz Saeed pleaded not guilty on Friday in a second case on charges of financing terrorism, a government prosecutor and a defence lawyer said. Saeed, who was indicted on similar charges in another case on Dec 11, was presented in an anti-terrorism court

Published 21 Dec, 2019 12:00am

Relief for people: Swati criticises 'some' departments impeding government efforts

Minister for Parliamentary Affairs Senator Mohammad Azam Khan Swati has said that it is the policy of the government to provide maximum relief to the people but some departments disgrace and demean the people because of their inability, incompetence and l

Published 21 Dec, 2019 12:00am

MoI officials barred from interaction with media, social media

The Ministry of Interior has asked officers and officials of its attached departments neither to interact with media nor upload any official view on any issue on social media.

Published 21 Dec, 2019 12:00am

NA body passes 'Zainab Alert, Response and Recovery Act, 2019'

National Assembly's Standing Committee on Human Rights on Friday passed Zainab Alert, Response and Recovery Act, 2019 which seeks speedy response for recovery of missing, abducted, abused or kidnapped children in the premises of Islamabad Capital Territor

Published 21 Dec, 2019 12:00am

Virk says it is not possible to consolidate child-related laws

Convener of Sub-Committee of the National Assembly Standing Committee on Law and Justice Chaudhry Mahmood Bashir Virk on Friday said it was not possible to consolidate all child related laws.

Published 21 Dec, 2019 12:00am

There will be no clash of institutions: Bilawal

In what appears to be his visibly softened stance, Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari ruled out the possibility of clash of institutions in the aftermath of Special Court's judgement against former president General Pervez Mushar

Published 21 Dec, 2019 12:00am

Business & Economy

Nine companies to participate in Intersec Dubai

Some nine Pakistani companies are participating in the 22nd edition of Intersec Dubai 2020 fair. Intersec, now in its 22nd edition, will host more than 1,200 exhibitors from 54 countries around the world, taking place at Dubai World Trade Centre from 19-2

Published 21 Dec, 2019 12:00am

Business & Economy

STCL CEO highlights features of products

Shabbir Tiles products have been used in mega projects in Pakistan. "Stile is tiling all Pakistan from homeowner to major projects including historical Gurdwara in Kartarpur, all major metro lines including Orange line and Green line etc.," said Masood Ja

Published 21 Dec, 2019 12:00am

SZABIST signs MoU with BEEF

SZABIST Karachi signed MoU with Balochistan Education Endowment Fund (BEEF). Through this MoU, BEEF will be proving full funded scholarship to 5-6 meritorious and financially challenged students of SZABIST who are local domicile certificate holders of Bal

Published 21 Dec, 2019 12:00am

Mayor Karachi opens Mughal Garden for public

The renovated Mughal Garden in Karachi Zoo has now been opened for visitors as Mayor Karachi Wasim Akhtar said the second phase of development work in the Zoo will begin soon.

Published 21 Dec, 2019 12:00am

Musharraf's sentence: MQM-P chief terms verdict wording deplorable

Dr Khalid Maqbool Siddiqui, Convener Muttahida Qaumi Movement-Pakistan (MQM-P) on Friday said that language used in the detailed judgment of high treason case against former president General Pervez Musharraf (retired) raised the questions on the merit of

Published 21 Dec, 2019 12:00am

Business & Economy

Muneer optimistic about UBG's electoral prospects

The Patron-in-Chief of United Business Group (UBG) and former President of FPCCI, S M Muneer has expressed the hope that the group candidates will sweep for fifth consecutive time the annual elections of the Federation of Pakistan Chambers of Commerce and

Published 21 Dec, 2019 12:00am

6,985 students of religious schools given stipends: Sindh PA told

The Sindh government provides stipends in four different categories to students of about 6,985 religious schools through its Zakat and Usher Department, the Sindh Assembly was informed Friday.

Published 21 Dec, 2019 12:00am

SEPA to open offices in all Karachi districts

Sindh Environmental Protection Agency (SEPA) will open its offices in each district of Karachi to make environmental monitoring more effective in the metropolis.

Published 21 Dec, 2019 12:00am

Business & Economy

Hashoo, Hero Groups ink agreement to start PC Hotel in Hyderabad

To provide premium hospitality in a traditional environment, Hashoo Group has signed a management agreement between Pakistan Services Limited and Hero Group to open a Pearl-Continental (PC) Hotel in Hyderabad.

Published 21 Dec, 2019 12:00am

Nestlé, GBWMC & KADO sign MoU on 'Clean Hunza Project'

Nestlé Pakistan, District Council Hunza, Gilgit Baltistan Waste Management Company (GBWMC) and Karakoram Area Development Organization (KADO) have signed a MoU for "Clean Hunza Project".

Published 21 Dec, 2019 12:00am

Sunflower to be cultivated on 260,000 acres in Punjab

Punjab government has formulated a well-knitted plan for the promotion of Sunflower and other oil seed crops in the Province. Under the programme sunflower would be cultivate on more than 2.60 lakh acres of land in different areas of the Province.

Published 21 Dec, 2019 12:00am

Minister visits Chiniot to monitor anti-polio campaign

Punjab Minister for Excise and Taxation/In-charge Anti-Polio Campaign Faisalabad Division Hafiz Mumtaz Ahmad visited District Chiniot to review the implementation of the ongoing anti polio campaign. He checked the vaccination record of polio teams at diff

Published 21 Dec, 2019 12:00am

Business & Economy

China acting as 'economic booster': LCCI chief

"Back-to-back visits of Chinese trade delegations are not only reflect unbreakable friendship between the two countries but are also an ample proof of Chinese investors' growing interest in Pakistan."

Published 21 Dec, 2019 12:00am

US envoy calls on Punjab IGP

A two-member delegation led by Security Attaché for the United States Consulate Mathew Copek called on Punjab Inspector General of Police (IGP) Shoaib Dastgir at the central police office on Friday.

Published 21 Dec, 2019 12:00am

Hate speech case: LHC summons Safdar

The Lahore High Court (LHC) on Friday issued a notice to PML-N leader Capt Safdar (retd), son-in-law of former Prime Minister Nawaz Sharif, on a petition of the Punjab government seeking cancellation of his bail in a hate speech case.

Published 21 Dec, 2019 12:00am

Resolution against gas suspension to industry submitted to PA

Pakistan Muslim League-Nawaz (PML-N) MPA Sadia Taimoor on Friday submitted a resolution in the Punjab Assembly against the suspension of gas to the industry.

Published 21 Dec, 2019 12:00am

Punjab CM slams Indian shelling

Punjab Chief Minister Sardar Usman Buzdar has strongly condemned the unprovoked firing of Indian army at civilian population on LoC.

Published 21 Dec, 2019 12:00am

UN appoints Harneis as UN Resident Coordinator in Pakistan

The United Nations Secretary-General António Guterres has appointed Julien Harneis of the United Kingdom as the United Nations Resident Coordinator in Pakistan, with the host Government's approval.

Published 21 Dec, 2019 12:00am

Security measures for Christmas, Quaid-e-Azam Day reviewed

In a high level meeting held with Minister for Law, Parliamentary Affairs and Social Welfare Raja Muhammad Basharat in the chair, here on Friday, security arrangements for Christmas, Quaid-e-Azam Day and New Year's celebrations were reviewed in detail.

Published 21 Dec, 2019 12:00am

Buzdar inaugurates various uplift schemes in DGK

Punjab Chief Minister Sardar Usman Buzdar on Friday inaugurated different development projects apart from laying the foundation stones of various schemes during his visit to Dera Ghazi Khan.

Published 21 Dec, 2019 12:00am

Letters

The challenge of racial supremacy

Taking a leaf out of celebrated Indian writer Khushwant Singh's book, prime minister Imran Khan has shed light on Indian government's approach to minorities, particularly Muslims who are now facing the prospect of internment or deportation. That Narendra

Published 21 Dec, 2019 12:00am

Articles

Anything but a traitor ...

Perhaps, never before in the last 72 years of our existence have we made our neighbor as much happy as we have done in the last eight weeks. We gave Diwali and post-Diwali presents to the Indians, who were first jubilant on the manner in which our current

Updated 21 Dec, 2019 08:33am

Articles

Protesters tweet and TikTok but New Delhi shows stubbornness

With the world's cheapest data, young Indians have lapped up Facebook, TikTok and WhatsApp. But when these toys are used as tools to organise protests or fuel unrest, the government gets scared. India is the world leader when it comes to cutting off acces

Updated 21 Dec, 2019 08:28am

Articles

How to grow

Based on my limited experience of world economies, and based on other people's research, there does not exist a single recipe for growth. And recipe is the right world; given the right instructions even an idiot can boil an egg; unfortunately, however, no

Updated 21 Dec, 2019 07:59am

Articles

Power sector

The incumbent government adopted a focused and realistic strategy to tackle the gross mis-governance in the power sector and some success has been achieved in terms of improvements in receivables and arrest of power theft.

Updated 21 Dec, 2019 07:43am

The verdict and after

It is unfortunate that a seemingly appropriate verdict of a special court comprising judges of three high courts that held former army chief Gen Pervez Musharraf guilty of treason should leave room for controversy. The language used in the detailed order

Updated 21 Dec, 2019 07:02am

Ogra suggests a 213.7 percent hike

The Oil and Gas Regulatory Authority (Ogra) has recommended that the government increase gas prices by a whopping 213.7 percent with effect from next month. This recommendation is premised on the revenue requirement of the two gas companies - Sui Southern

Updated 21 Dec, 2019 07:05am

Energy

SSGC joins hands with Behbud Association

SSGC has joined hands with Behbud Association to help develop the skills of its students by providing monetary support to the reputed NGO to facilitate its students in development vocational training skills. The monetary assistance provided by SSGC, as pa

Published 21 Dec, 2019 12:00am

Business & Economy

Backward area: Officials asked to focus on infrastructure development

Directing the senior officials of Ministry of Communication and other relevant departments to focus on infrastructure development in backward areas, a parliamentary panel Friday said that development of the backward areas will not only help attract touris

Published 21 Dec, 2019 12:00am

Taxes

FBR steps up crackdown on illegal trade of cigarettes

Regional Tax Office (RTO), Federal Board of Revenue (FBR) Peshawar has accelerated crackdown against large scale illegal businesses of cigarettes and has put its special surveillance teams on high alert.

Published 21 Dec, 2019 12:00am

Energy

Punjab, Sindh and Islamabad: Gas supply to certain industries, CNG sector stays suspended

The government-owned gas companies - Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) - have continued suspension of gas supply to industrial (excluding export-oriented industry) and CNG sectors in Punjab, Sindh and

Published 21 Dec, 2019 12:00am

Stocks

SECP initiates action against mis-selling in bancassurance

The Securities and Exchange Commission of Pakistan (SECP), to address the issue of mis-selling of insurance policies through bancassurance agents, has initiated actions against all such companies.

Published 21 Dec, 2019 12:00am

'Pakistan must learn from failures, successes of other nations'

By 2022 robots will take over the jobs of 75 million people globally while more than 130 million new jobs will be created due to the technological advancements taking place, and Pakistan needs to be proactive to enhance its education system to compete wit

Published 21 Dec, 2019 12:00am

Business & Economy

Hutchison Ports welcomes country's ever-largest container ship

Hutchison Ports Pakistan created maritime history in Pakistan by welcoming maiden call of CV COSCOBELGIUM. It is the largest container vessel to ever call at any port of Pakistan, with length over all of 366 meters and a capacity of 13,386 TEUs.

Published 21 Dec, 2019 12:00am

Religious freedom: Pakistan among 9 states remained on blacklist

The United States has once again designated Pakistan among nine 'countries of particular concern' allegedly for having engaged in or tolerated "systematic, ongoing, egregious violations of religious freedom."

Published 21 Dec, 2019 12:00am

Cotton & Textile

Purchase of cotton from black-market: APTMA accuses commissioner of misleading minister

All Pakistan Textile Mills Association (APTMA) has accused Cotton Commissioner of misleading the minister with respect to purchase of cotton from black-market, demanding that the issue should be referred to the investigation agency.

Published 21 Dec, 2019 12:00am

Money & Banking

ZTBL provides relief to 902 employees through PCP

The hallmark of the present government is that it is redressing the grievances of the common man through Pakistan Citizen Portal setup by the Prime Minister Imran Khan. It is worth mentioning that the benefits of this portal are reaching to the common man

Published 21 Dec, 2019 12:00am

Articles

Partly Facetious: Clueless

"Some have an on off switch and some don't."

Updated 21 Dec, 2019 07:13am

Iraqi Catholics scrap Christmas Eve mass as protests persist

The head of Iraq's Chaldean Catholic Church said Friday there will be no Christmas Eve masses in Baghdad for security reasons as nearly three months of anti-government protests continue to rock the capital. "In light of the current sensitive security situ

Published 21 Dec, 2019 12:00am

In first, Switzerland shuts down ageing nuclear power station

One of four Swiss nuclear power stations was permanently disconnected Friday after 47 years of service, marking a first in Switzerland, as the country begins to gradually phase out atomic energy. The decision to press the "off" button for good at the agei

Published 21 Dec, 2019 12:00am

Boeing's Starliner heads for home after failing mission

Boeing's Starliner spacecraft failed Friday in its main objective of docking with the International Space Station after a glitch involving its mission clock caused it to burn too much fuel, officials said.

Published 21 Dec, 2019 12:00am

Indian lawmaker gets life for raping

An Indian lawmaker was sentenced to life Friday for raping a teenager whose plight police ignored until she tried to set herself on fire, in a case highlighting the impunity often enjoyed by the powerful. The day after she did so last year her father died

Published 21 Dec, 2019 12:00am

Germany signs off on flagship climate plan

The German parliament on Friday formally approved a sweeping package of climate policy reforms, in a relief to Chancellor Angela Merkel's government as it faces growing pressure to take environmental action. The so-called climate package, which includes p

Published 21 Dec, 2019 12:00am

Smog forces schools shut again in Iran's Tehran province

Schools in Iran's Tehran province will be closed for the next two days over rising levels of air pollution, authorities announced on Friday, following similar measures last week. The decision was made in a meeting of an emergency committee on air pollutio

Published 21 Dec, 2019 12:00am

Australian PM ends holiday to face fire crisis

Australian Prime Minister Scott Morrison cut short a Hawaii holiday on Friday following a barrage of criticism for vacationing while his country battles an unprecedented bushfire crisis. Morrison expressed regret for the family trip as two volunteer firef

Published 21 Dec, 2019 12:00am

North Korea envoy confirmed as Pompeo's number two

The US Senate on Thursday confirmed North Korea negotiator Stephen Biegun to be the State Department's number two, raising the possibility that the veteran Republican will become the acting top US diplomat next year. Biegun, currently on a trip to Asia as

Published 21 Dec, 2019 12:00am

US 'prepared for whatever' from North Korea: top Pentagon general

The Pentagon's top general said Friday the US military is ready for anything from North Korea in the face of Pyongyang's ominous promise of a "Christmas gift" if Washington does not act to ease tensions. "Korea is one of those places in the world where we

Published 21 Dec, 2019 12:00am

Libya government urges military aid from 'friendly' countries

Libya's UN-recognised unity government on Friday urged five "friendly countries" to implement military deals as it seeks to repel the forces of an eastern-based strongman fighting to seize the capital. The call came a day after the Government of National

Published 21 Dec, 2019 12:00am

Algerians protest against new president

Algerian demonstrators on Friday rejected a call for dialogue by the country's new president, insisting on a month-long protest movement's demands for sweeping reforms in the North African country.

Published 21 Dec, 2019 12:00am

IT & Computers

French regulator fines Google 150 million euros over search engine ads

France's competition authority has fined Google 150 million euros ($167 million) for abusing its dominant position on the market for advertising linked to web searches, the regulator announced Friday.

Published 21 Dec, 2019 12:00am

Rouhani slams 'irrational' US nuclear deal withdrawal

Iranian President Hassan Rouhani on Friday slammed the "irrational" withdrawal of the United States from the multinational nuclear deal on Tehran's nuclear programme, as he met Japanese Prime Minister Shinzo Abe in Tokyo.

Published 21 Dec, 2019 12:00am

Money & Banking

Pound limps to weekly loss in Asia

Sterling was precariously poised as it headed for its worst week in more than two years on Friday, hobbled by familiar fears of a chaotic British exit from the European Union, while firm data helped the dollar arrest its recent slide.

Published 21 Dec, 2019 12:00am

Money & Banking

Dollar up against majors in Europe

The dollar firmed against other major currencies on Friday and was set for its best week in six weeks thanks to a stronger tone to economic data that makes a near-term cut in US interest rates unlikely. Sterling was on firmer ground at the end of a bad we

Published 21 Dec, 2019 12:00am

Money & Banking

Early trade in New York: strong data sets dollar up for best week in 1-1/2 months

The dollar firmed against other major currencies on Friday and was set for its best week since early November after a series of strong US economic data releases which make a near-term cut in interest rates unlikely.

Published 21 Dec, 2019 12:00am

Money & Banking

Dollar stalls in NY ahead of GDP data

The dollar was stalled on Thursday a day ahead of the release of US gross domestic product data, little moved by weak factory activity data or President Donald Trump's impeachment.

Published 21 Dec, 2019 12:00am

Money & Banking

South Africa's rand flat

South Africa's rand ended flat on Friday in thin trade ahead of the holidays, failing to add to its previous gains. At 1530 GMT, the rand was flat at 14.2300 per dollar, reflecting muted interest in global currencies and the greenback and remaining in str

Published 21 Dec, 2019 12:00am

Money & Banking

Asian forex: South Korean won gains most; other subdued

The South Korean won gained the most among Asian currencies on Friday, buoyed by the positive developments surrounding the "phase one" trade deal, while most other units remained subdued amid lack of market triggers ahead of the holiday season.

Published 21 Dec, 2019 12:00am

Money & Banking

Sterling rises after bruising week of losses

The pound rose 0.4% on Friday after three days of declines, trading close to its biggest weekly loss since 2017 after gains last week on the Conservatives' clear election win were erased by the resurfacing risk of a no-deal Brexit.

Published 21 Dec, 2019 12:00am

Money & Banking

Rouble rallies to near 62 against dollar, 69 against euro

The Russian rouble rallied to its strongest levels since 2018 on Friday, extending earlier gains ahead of main month-end tax payments that usually prompt export-focused companies to convert part of their foreign currency revenues.

Published 21 Dec, 2019 12:00am

Other

Tokyo 2020 Olympics unveil final budget of $12.6 billion

The Tokyo 2020 Olympics are expected to cost some 1.35 trillion yen ($12.6 billion), organisers said Friday, unveiling a final budget showing increased revenue balancing out extra costs including countermeasures against heat.

Published 21 Dec, 2019 12:00am

Cricket

England Women clean sweep T20 series over Pakistan Women

England Women cricket team beat Pakistan Women team by 26 runs in the third and final T20I to complete a 3-0 series win at Kuala Lumpur's Kinrara Oval on Friday.

Published 21 Dec, 2019 12:00am

Cricket

Denly defies illness to score England century

Joe Denly defied illness to score the first century of England's tour of South Africa when he made 103 on the first day of a non-first-class three-day match against South Africa A at Willowmoore Park on Friday.

Published 21 Dec, 2019 12:00am

Cricket

Central Punjab, KP share PCB-Pepsi Under-16 Trophy

Central Punjab Under-16 and Khyber Pakhtunkhwa Under-16 declared joint winner in the PCB-Pepsi Under-16 One-Day tournament on Friday as the match was washed out without a ball being bowled, due to rain.

Published 21 Dec, 2019 12:00am

Cricket

Shaheen Shah takes 5 wickets as Pakistan fight back

The duo Pakistani pacers - Shaheen Shah Afridi and Mohammad Abbas broke out Sri Lankan batting lineup, helping Pakistan to restrain touring side at 271 runs on second day of second and final Test match at National Stadium Karachi (NSK).

Published 21 Dec, 2019 12:00am

Other

Two matches decided in Lahore Garrison Polo Championship

Master Paints Black outpaced Diamond Paints by 10-5 to qualify for the main final of the Aquafina Lahore Garrison Polo Championship 2019 here at the Lahore Polo & Country Club ground on Friday.

Published 21 Dec, 2019 12:00am

Other

Global sport doping cases up 13 percent in 2017: WADA

Doping cases in international sport rose 13 percent in 2017 against the year before, the annual report of the World Anti-Doping Agency said Thursday. The Montreal-based agency reported 1,804 Anti-Doping Rule Violations for 2017, a rise from 1,595 in 2016.

Published 21 Dec, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 24	278.53
USD PKR Interbank Buying / Dec 24	278.33
USD to Japanese Yen / Dec 24	157.14
USD to Swiss Franc / Dec 24	0.90
Pound Sterling to USD / Dec 24	1.25
Euro to USD / Dec 24	1.04

Stock	Volume
Germany DAX 30 / Dec 23	19,848.77
S&P 500 / Dec 24	6,040.04
India Sensex / Dec 24	78,472.87
Tokyo Nikkei / Dec 24	38,986.40
Nasdaq / Dec 24	20,031.13
Hang Seng / Dec 24	20,098.29
FTSE 100 / Dec 24	8,136.99
Dow Jones / Dec 24	43,297.03

Item	Value
Crude Oil USD/Barrel / Dec 24	70.10
Karachi Cotton PKR/37.32 KG / Dec 24	17,785
Gold 10 Grams PKR / Dec 24	240,487.70
Gold Spot USD/Ounce / Dec 24	2,616.87
Cotton US¢/pound / Dec 24	68.78
Petrol/Litre / Dec 25	252.10

Gainers
Losers
Leaders

Stock	Price
Sec. Inv. Bank / Dec 24 Security Investment Bank Limited(SIBL)	5.99 ▲ 1.00 (20.04%)
Next Capital / Dec 24 Next Capital Limited(NEXT)	8.90 ▲ 1.00 (12.66%)
Pak Agro Pack. (GEM) / Dec 24 Pak Agro Packaging Limited (GEM)(GEMPAPL)	9 ▲ 1.00 (12.50%)
Ghani Chem. Ind. / Dec 24 Ghani Chemical Industries Limited(GCIL)	16.13 ▲ 1.47 (10.03%)
Pak Gulf Leasing / Dec 24 Pak-Gulf Leasing Company Limited(PGLC)	14.37 ▲ 1.31 (10.03%)
Popular Islamic / Dec 24 Popular Islamic Modaraba(PIM)	15.58 ▲ 1.42 (10.03%)
Mandviwala / Dec 24 Mandviwala Mauser Plastic Industries(MWMP)	16.59 ▲ 1.51 (10.01%)
Blessed Tex. / Dec 24 Blessed Textiles Limited(BTL)	301.77 ▲ 27.43 (10.00%)
Crescent Cotton / Dec 24 Crescent Cotton Mills Limited(CCM)	55 ▲ 5.00 (10.00%)

Stock	Price
S.G.Power / Dec 24 S.G. Power Limited(SGPL)	10.58 ▼ -1.18 (-10.03%)
Olympia Mills / Dec 24 Olympia Mills Limited(OML)	36 ▼ -4.00 (-10.00%)
J.A.Textile / Dec 24 J.A. Textile Mills Limited(JATM)	33.95 ▼ -3.77 (-9.99%)
Sanghar Sugar / Dec 24 Sanghar Sugar Mills Limited(SANSM)	26.16 ▼ -2.90 (-9.98%)
I.C.C. Ind. / Dec 24 ICC Industries Limited(ICCI)	9.85 ▼ -1.07 (-9.80%)
National Silk / Dec 24 The National Silk & Rayon Mills Limited(NSRM)	50.01 ▼ -5.43 (-9.79%)
Gulshan Sp. / Dec 24 Gulshan Spinning Mills Limited(GSPM)	4.10 ▼ -0.40 (-8.89%)
Crescent Fib. / Dec 24 Crescent Fibres Limited(CFL)	40.16 ▼ -3.81 (-8.66%)
Reliance Ins. / Dec 24 Reliance Insurance Company Limited(RICL)	11.55 ▼ -1.05 (-8.33%)

Stock	Volume
WorldCall Telecom / Dec 24 Worldcall Telecom Limited(WTL)	126,573,463 ▲ 0.05
Fauji Foods Ltd / Dec 24 Fauji Foods Limited(FFL)	66,984,381 ▲ 0.49
Cnergyico PK / Dec 24 Cnergyico PK Limited(CNERGY)	66,471,663 ▼ -0.27
Pak Elektron / Dec 24 Pak Elektron Limited(PAEL)	38,651,653 ▼ -1.53
K-Electric Ltd. / Dec 24 K-Electric Limited(KEL)	36,108,956 ▼ -0.18
Sui South Gas / Dec 24 Sui Southern Gas Company Limited(SSGC)	33,467,532 ▼ -0.50
P.T.C.L. / Dec 24 Pakistan Telecommunication Company Ltd(PTC)	33,030,118 ▼ -1.31
TRG Pak Ltd / Dec 24 TRG Pakistan Limited(TRG)	29,441,264 ▲ 3.35
Pace (Pak) Ltd. / Dec 24 Pace (Pakistan) Limited(PACE)	28,106,970 ▼ -0.18

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