News Archives for Print - 2019-12-22

Print - 2019-12-22

Thousands welcome former C African leader's return from exile

Thousands of well-wishers turned out on Saturday to welcome former Central African Republic president Francois Bozize on his return from exile.

Published 22 Dec, 2019 12:00am

Global Business Economy

ViacomCBS to purchase stake in Miramax from Bein for $375 million

US entertainment conglomerate ViacomCBS will buy a large minority stake in the Miramax film studio from Qatar's Bein Media Group for $375 million, the parties announced Friday.

Published 22 Dec, 2019 12:00am

India praises DG ISPR

The Indian cybersecurity chief has heaped praise on the Inter-Services Public Relations (ISPR), and its director general Maj Gen Asif Ghafoor, saying "they [Pakistan] have got their act together" in information warfare against India, Aaj News reported.

Published 22 Dec, 2019 12:00am

Modi holds security talks as protests rage over citizenship law

Indian Prime Minister Narendra Modi met his council of ministers on Saturday to discuss security measures to end violent protests against a citizenship law, government sources said, in one of biggest crises yet for his Hindu nationalist government.

Published 22 Dec, 2019 12:00am

Mahathir criticises India's citizenship law

Malaysian Prime Minister Mahathir Mohamad on Saturday criticised a new citizenship law in India that excludes Muslim immigrants. At a news conference following the conclusion of an Islamic summit in Kuala Lumpur, Mahathir said India is a secular state and

Updated 22 Dec, 2019 11:39pm

PM vows befitting response if India undertakes false-flag operation

Prime Minister Imran Khan Saturday warned India of a befitting response in case of conducting any false flag operation to divert world attention from its domestic chaos.

Updated 22 Dec, 2019 11:41pm

NAB erred in interpreting appointments: Mirza

Securities and Exchange Policy Board (SEPB) Chairman Khalid Mirza Saturday said that the Chairman National Accountability Bureau (NAB) has incontrovertibly erred and would do well to retract his direction for the holding of an inquiry into misuse of autho

Updated 22 Dec, 2019 11:41pm

FATF seeks details of actions

The Financial Action Task Force (FATF) has asked Pakistan to apprise the anti-money laundering watchdog of the actions it has taken to comply with its 'Action Plan' by January 8, 2020, it is learnt.

Updated 22 Dec, 2019 11:41pm

Gazprom pays $2.9 billion to settle Ukraine dispute

Russian energy giant Gazprom has agreed to pay $2.9 billion to its Ukrainian counterpart Naftogaz to settle a long-running dispute over transit fees for gas transported to Europe, Russian news agencies reported on Saturday.

Published 22 Dec, 2019 12:00am

Nord Stream 2 to press on with Europe gas pipe, despite US sanctions

The group behind Nord Stream 2 said on Saturday it aimed to complete a pipeline to boost Russian gas supplies to Europe as soon as possible, after US sanctions prompted a major contractor to suspend pipe-laying activities.

Published 22 Dec, 2019 12:00am

Senate panel told: Turnover tax exemption to USC possible only thru Finance Bill

Hameed Memon, a senior Inland Revenue official and Director General (Retail), Federal Board of Revenue (FBR), has said that exemption from turnover tax to Utility Stores Corporation of Pakistan is only possible through the Finance Bill at the time of fede

Published 22 Dec, 2019 12:00am

Five-year business plan: PIA initiates process to hire consultancy firm

Pakistan International Airlines (PIA) has initiated the process of hiring a reputable international consultancy firm with extensive aviation consulting experience to prepare a five-tear corporate business plan, sources said.

Published 22 Dec, 2019 12:00am

Saudi denies pressurising Pakistan

The Embassy of Saudi Arabia in Islamabad Saturday denied that the Kingdom has exerted pressure on Pakistan to stay away from Kuala Lumpur summit in Malaysia.

Published 22 Dec, 2019 12:00am

Muslim nations consider gold, barter trade

Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions on them, Malaysian Prime Minister Mahathir Mohamad said on Saturday.

Published 22 Dec, 2019 12:00am

Justice Gulzar sworn in as new CJP

Justice Gulzar Ahmed Saturday took oath as new Chief Justice of Pakistan. President Dr Arif Alvi administered the oath of the office to Justice Gulzar Ahmed in a ceremony held at Aiwan-i-Sadr, here.

Published 22 Dec, 2019 12:00am

No major exchange of fire: ISPR

The Inter-Services Public Relations (ISPR) on Saturday clarified that no "major exchange of fire in Kiran or Neelum valley as being propagated by Indian Media" had taken place, Aaj News reported

Published 22 Dec, 2019 12:00am

Judge's video scam: SC's verdict on review petition submitted to IHC

The Supreme Court judgment on a review petition in the Accountability Court Judge Mohammad Arshad Malik video scam has been submitted to the Islamabad High Court.

Published 22 Dec, 2019 12:00am

Professor sentenced to death for blasphemy

Additional Sessions Judge Kashif Qayyum awarded death penalty and imposed a fine of Rs 600,000 on a former university lecturer on blasphemy charges.

Published 22 Dec, 2019 12:00am

Industries, CNG sector: SNGPL to temporarily discontinue supplying gas

In the wake of increasing gas consumption of domestic sector due to the current cold wave in the country, Sui Northern Gas has decided to temporarily discontinue gas supply to general industries and CNG sectors.

Published 22 Dec, 2019 12:00am

Sindh PSDP: No sector-wise lump sum allocation to be made: rules

Sindh government in its "Sindh Delegation of Financial Powers and Financial Control Rules 2019" has made it clear that no sector-wise lump sum allocation shall be made in Public Sector Development Programme (PSDP) as a general policy, except in exceptiona

Published 22 Dec, 2019 12:00am

French forces kill 33 militants in Mali: Macron

France killed 33 militants in Mali on Saturday using attack helicopters, ground troops and a drone near the border with Mauritania where a group linked to al Qaeda operates, the French army said.

Published 22 Dec, 2019 12:00am

Robbers storm Akram Sheikh's farmhouse, take away valuables

Armed robbers stormed the farmhouse of senior lawyer Akram Sheikh, made him and his family hostage at gunpoint and took away cash and other valuables, police said on Saturday.

Published 22 Dec, 2019 12:00am

Violation of Securities Act: SECP bench endorses impugned order

A three-member larger appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has endorsed the impugned order issued by Commissioner (SMD), SECP against a company and dismissed the appeal filed by the said company.

Published 22 Dec, 2019 12:00am

Letters

Economic challenges

Some of the observations made by World Bank's Country Director Illango Patchamuthu during his talk with some senior journalists need attention. According to him, for example, "Pakistan is facing the challenge of lack of political consensus on the economic

Published 22 Dec, 2019 12:00am

Articles

Challenged by China and Russia, US builds force for future space wars

The United States met a mounting 21st century strategic challenge from Russia and China Friday with the creation of a full-fledged US Space Force within the Department of Defense.

Published 22 Dec, 2019 12:00am

Articles

Chinese education diplomacy

A record number of 4.8 million international students were enrolled in different Chinese institutions in 2019. Previously in 2000, only 0.5 million international students opted to study in China. The inbound and outbound academia-related migration is not

Published 22 Dec, 2019 12:00am

Battling polio

The news on the polio control front remains dismal. According to latest reports, two more infants in Khyber Pakhtunkhwa and one in Punjab have been found suffering from this debilitating disease, taking the number of affected children in the current year

Updated 24 Dec, 2019 06:23am

A black law

India's ultra Hindu nationalist government has amended the citizenship law in a calculated attempt to marginalize Muslims. It allows fast track citizenship to Hindus, Sikhs, Buddhists, Jains, Parsis and Christians from Bangladesh, Pakistan and Afghanistan

Updated 24 Dec, 2019 06:30am

Business & Economy

UBG chairman urges politicians to stay away from FPCCI polls

Chairman of the United Business Group (UBG) Iftikhar Ali Malik on Saturday said that politicians should remain impartial in the upcoming elections of Federation of Pakistan Chambers of Commerce & Industry (FPCCI).

Published 22 Dec, 2019 12:00am

Christmas preparations in KP, tribal districts in final phase

Preparations for the forthcoming festival of Christmas have picked up here on Saturday as the Christian community is all set to celebrate the festival with religious fervour across Khyber Pakhtunkhwa, including tribal districts.

Published 22 Dec, 2019 12:00am

Opposition accuses Sanjrani of rendering Senate dysfunctional

Opposition lawmakers have accused Chairman Senate Sadiq Sanjrani for "rendering the upper house of parliament virtually dysfunctional" by not summoning Senate session in collusion with the treasury benches.

Published 22 Dec, 2019 12:00am

IG Punjab forms inquiry committee on PIC attack

Inspector General Police (IGP) Punjab has constituted an inquiry committee to ascertain the level of negligence on the part of police force during the attack of lawyers on Punjab Institute of Cardiology (PIC), said sources.

Published 22 Dec, 2019 12:00am

Judiciary and army are on the same page: Rashid

Railways Minister Sheikh Rashid Ahmad has said that the judiciary and army are two pillars of the country and both are on the same page. There is no conflict between them.

Published 22 Dec, 2019 12:00am

D-Chowk: Traffic movement closed

The commuters and motorists continue to face hardship in reaching their destinations as Islamabad Capital Territory (ICT) administration has blocked D-Chowk for traffic for the last several days. A senior official of ICT administration said that police ha

Published 22 Dec, 2019 12:00am

Christmas gathering held at LGH

Punjab Paramedical Staff Association and Nursing community hosted a ceremony in connection with Christmas here at Lahore General Hospital in which 200 pound cake was cut. Punjab Minister for Human Rights Ejaz Alam Augustan was chief guest while doctors, n

Published 22 Dec, 2019 12:00am

Business & Economy

Nestlé to recycle 220,000kgs of plastic waste

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 22 Dec, 2019 12:00am

Incidents of motor vehicle theft show upward trend in capital

The incidents of motor vehicle theft have shown an increase in the federal capital as over 10 vehicles, including motor bikes, were stolen or snatched from different areas of the city during the last week.

Published 22 Dec, 2019 12:00am

GCU vice chancellor pledges to activate research chairs

The Government College University, Lahore has announced activating its six research chairs. Vice Chancellor Prof Asghar Zaidi said that in developed countries eminent experienced personalities occupying such prestigious chairs were the backbone of univers

Published 22 Dec, 2019 12:00am

Kalivia factory: FO confirms death of one Pakistani national

The Foreign Office on Saturday confirmed the death of one Pakistani national among the four dead due to gas suffocation in a factory in Kalivia, a place 50 kilometers away from Athens. According to Foreign Office Spokesperson Aisha Farooqui, as per the av

Published 22 Dec, 2019 12:00am

Women's participation in decision-making: Govt committed to creating enabling environment: Mazari

The Government was committed to creating an enabling environment for female participation in the workforce, Minister for Human Rights Dr. Shireen Mazari said in her message on National Working Women Day.

Published 22 Dec, 2019 12:00am

Energy

Shell Pakistan, Kellogg Pakistan sign agreement

Shell Pakistan Limited is focused on improving its customers experience at their forecourts and creating alliances that offer more than just fuel. An agreement was recently signed between Kellogg and Shell Pakistan Limited thereby allowing the parties to

Published 22 Dec, 2019 12:00am

Suspected terrorist killed

One terrorist was killed while two others injured and arrested after an exchange of fire with law enforcement agencies, here on Saturday morning.

Published 22 Dec, 2019 12:00am

Government redressing common man's grievances through PCP

The hallmark of the present government is that it is redressing the grievances of the common man through Pakistan Citizen Portal set up by the Prime Minister Imran Khan.

Published 22 Dec, 2019 12:00am

Money & Banking

FBL sponsors IFN Pakistan

One of Pakistan's leading banks, Faysal Bank Limited (FBL), was amongst the lead sponsors and participants in this year's IFN Forum Pakistan conference. The day-long conference was held in partnership with the State Bank of Pakistan.

Published 22 Dec, 2019 12:00am

Khuhro explains why government has failed to complete schemes

The Advisor to CM Sindh on Works and Services, Universities & Boards Nisar Khuhro said that Sindh had not been given funds of its share by the federal government and therefore the people-welfare development schemes could not be completed in time.

Published 22 Dec, 2019 12:00am

Business & Economy

New shipping policy to be approved by cabinet anytime soon: minister

Federal Minister for Maritime Affairs Syed Ali Hyder Zaidi has said that a new shipping policy would be soon approved by the cabinet and would exempt buying of new vessels from taxes and duties to promote shipping industry in the country.

Published 22 Dec, 2019 12:00am

Business & Economy

Builders, developers: PBIF lauds PM's decision to resolve issues

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has lauded the decision of the Prime Minister Imran Khan to resolve the issues faced by builders and developers.This sector is providing jobs to millions while around forty

Published 22 Dec, 2019 12:00am

Reference against Sharjeel: AC issues show-cause notice to IO

An accountability court on Saturday ordered to issue show cause notice to the investigation officer of assets reference against former Sindh minister Sharjeel Memon over failure to submit report about the proclaimed offenders of the case.

Published 22 Dec, 2019 12:00am

IAC launches first new brand 'go4fresh'

Iftekhar Ahmed & Company (IAC), a renowned export company of fresh fruits & vegetables, has launched its unique retail store and brand "go4fresh" in Pakistan on Saturday.

Published 22 Dec, 2019 12:00am

Benazir's death anniversary: Ghani criticises Railways for refusing to ply 'special' train

Sindh Minister for Information, Archives and Labour Saeed Ghani on Saturday while censuring the administration of Pakistan Railways said that it was extremely regrettable that even after giving all the sureties the administration of Pakistan Railways refu

Published 22 Dec, 2019 12:00am

Master plan chalked out to retrieve Auqaf department's land

Punjab Auqaf Minister Syed Saeed ul Hassan Shah has said that on the direction of the Punjab Chief Minister, a master plan has been chalked out to retrieve Auqaf department's land from land grabbers.

Published 22 Dec, 2019 12:00am

Gilead Sciences awards $80,000 in grants for HIV programme in Pakistan

Gilead Sciences on Saturday announced the recipients of its 2019 Gilead Asia Pacific Rainbow Grant program, a regional grant initiative that supports community-led programs for people living with HIV in the Asia Pacific region. This was the first time non

Published 22 Dec, 2019 12:00am

Tributes paid to Hafeez Jalandhri

Glowing tributes were paid to the writer of Pakistani National Anthem, Hafeez Jalandhri, as his 37th death anniversary was observed on Saturday.

Published 22 Dec, 2019 12:00am

Business & Economy

Taunsa Sharif: CM inaugurates 13 Rs 2.94 billion uplift schemes

Punjab Chief Minister Usman Buzdar on Saturday inaugurated as many as 13 development programs in Taunsa Sharif completed at a cost of Rs 2.94 billion and also laid the foundation stone of a mega project.

Published 22 Dec, 2019 12:00am

Business & Economy

Government urged to 'formalise' trade activities with Afghanistan

Qaumi Watan Party (QWP) Chairman Aftab Ahmad Khan Sherpao on Saturday asked the government to take steps to "formalise" trade activities with Afghanistan in order to facilitate the business community and generate revenue for the country.

Published 22 Dec, 2019 12:00am

PPP to launch 'final round of struggle for real democracy': Bilawal

PPP Chairman, Bilawal Bhutto Zardari has said that they are going to launch a final round of struggle for the establishment of peoples' rule and real democracy in the country from December 27.

Published 22 Dec, 2019 12:00am

PFD denies Rs 120 million grant withdrawal for lawyers

Punjab Finance department on Saturday has denied withdrawing Rs 120 million grant announced by the Punjab government for lawyers. While referring to a news item, the department's spokesperson clarified that no decision was taken in this connection and add

Published 22 Dec, 2019 12:00am

UAF signs MoU with Engro Fertilizers

The University of Agriculture, Faisalabad and Engro Fertilizers Limited inked a Memorandum of Understanding to collaborate in the development of "Integrated E-learning system for Agricultural Technology Transfer by using Hybrid approach"- a project being

Published 22 Dec, 2019 12:00am

PKM chief slams RYK sugar millers

Pakistan Kissan Movement (PKM) President Hanif Gujjar has blamed the sugar millers at the Rahim Yar Khan area of monopolizing the purchase of sugarcane crop in connivance with the district administration.

Published 22 Dec, 2019 12:00am

Sanaullah's remand extended till January 4

An anti-narcotics court on Saturday extended judicial remand of Pakistan Muslim League Nawaz (PML-N) leader Rana Sanaullah till January 4, 2020, in alleged drugs recovery case.

Published 22 Dec, 2019 12:00am

Telecommunication

Golootlo partners with Jazz

In an effort to enrich Jazz World and to provide additional value to its customers, Jazz has entered into a partnership with Golootlo. The partnership will provide Jazz World users with access to over 12,500 discounts at their favorite outlets all over th

Published 22 Dec, 2019 12:00am

There's huge gender gap in electoral rolls: report

There is a gender gap of around 12.5 million in Pakistan's electoral rolls. According to the Election Commission of Pakistan's (ECP) report on the final electoral rolls for 2018, women comprised 44.1 percent of approximately 105 million citizens registere

Published 22 Dec, 2019 12:00am

Business & Economy

FCCI chief advises young students to start businesses

Faisalabad is full of successful business entrepreneurs who are not only contributing their productive role for the national economy but are also bringing laurels for the country because of their quality and innovative products, said Rana Sikandar-e-Azam

Published 22 Dec, 2019 12:00am

Prices of essential items showing increasing trend

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

Published 22 Dec, 2019 12:00am

Business & Economy

Regional connectivity: Gwadar Port to be important platform: Chinese scholar

Gwadar Port is an extremely important platform to extend China-Pakistan Economic Corridor (CPEC) westward to a more distant region and becomes an important platform for regional connectivity. At the same time, the construction speed of Gwadar Port determi

Published 22 Dec, 2019 12:00am

Business & Economy

NHA reduces revenue utilization on maintenance of network

National Highway Authority (NHA) has reduced revenue utilization on rehabilitation and routine maintenance of its network and resultantly major highways and motorways are deteriorating. According to officials' documents, the NHA collected Rs 23.269 billio

Published 22 Dec, 2019 12:00am

Solar eclipse on December 26

Annular eclipse of sun is likely to be visible in Pakistan along with other continents on Dec 26, the Met Office has said. The astronomical event could be seen in Eastern Europe, much of Asia, North & West Australia, Eastern Africa, Pacific Ocean and Indi

Published 22 Dec, 2019 12:00am

Energy

CNG stations reopen

The Compressed Natural Gas (CNG) stations across Sindh including Karachi were re-opened after the closure of four days as long queues of the vehicles being seen on the stations on Saturday. The closure of the CNG stations had manifold the plight of the co

Published 22 Dec, 2019 12:00am

Russian naval chief visits various installations of Pak Navy

Commander-in-Chief Russian Federation Navy Admiral Nikolay Anatolyevich Yevmenov has visited various installations of Pakistan Navy in Lahore and Karachi, and interacted with the field commands of Pakistan Navy. Matters pertaining to bilateral interests i

Published 22 Dec, 2019 12:00am

Business & Economy

APBF, TEVTA ink MoU on skill development

The All Pakistan Business Forum has signed a memorandum of understanding (MoU) with the Technical Education & Vocational Training Authority (TEVTA) Punjab for promotion of technical and skill development in the province.

Published 22 Dec, 2019 12:00am

NUML's 15th convocation held

National University of Modern Languages (NUML) held its 15th Convocation here at the university premises on Saturday. Advisor to the Prime Minister for Institutional Reforms and Austerity Dr Ishrat Hussain was the chief guest of the ceremony, said a press

Published 22 Dec, 2019 12:00am

Combating corruption: UN conference adopts Pakistan-sponsored resolution

A Pakistan-sponsored resolution on strengthening the role of parliaments in preventing and combating corruption has been adopted unanimously at a UN conference in Abu Dhabi, UAE.

Published 22 Dec, 2019 12:00am

Khuhro explains relationship between higher education, economic growth

An impressive ceremony of Academic Convocation 2017-18 was held at Shaheed Mohtarma Benazir Bhutto Convention Centre, Allama I I Kazi Campus, Jamshoro on Saturday to confer gold and silver medals and degrees upon successful candidates of PhD, M.S/ M. Phil

Published 22 Dec, 2019 12:00am

Global Business Economy

Bulgaria ups growth forecast to 3.6 percent in 2019

Bulgaria has raised its economic growth forecast for 2019 to 3.6% from a previous estimate of 3.4%, Finance Minister Vladislav Goranov said on Saturday.

Published 22 Dec, 2019 12:00am

Manager of McDonald's franchise in Peru says faulty drinks machine caused deaths

The general manager of the McDonald's operating firm in Peru has said in an interview with local TV that the drinks supply machine at the fast food restaurant where two employees died by electrocution last weekend was suffering from an electrical fault.

Published 22 Dec, 2019 12:00am

Global Business Economy

French travellers face train disruption as pension strikes go on

Strikes disrupting services in France brought frustration for travellers thronging Paris stations at the start of the festive season, as rail workers protested over pension reform.

Published 22 Dec, 2019 12:00am

Global Business Economy

Rouhani concludes Japan visit, seeks support for Iran economy

Iranian President Hassan Rouhani wrapped up his two-day visit to Japan on Saturday as Tehran, under US sanctions pressure, sought economic support from Tokyo.

Published 22 Dec, 2019 12:00am

IT & Computers

Twitter, Facebook target state-linked accounts made to manipulate

Facebook and Twitter on Friday said they had blocked multiple government-backed manipulation operations around the world, several of which favored US President Donald Trump, as part of a crackdown on state-sponsored propaganda efforts.

Published 22 Dec, 2019 12:00am

Global Business Economy

Japan lifts curbs on export of key chip material to South Korea

Japan has lifted curbs on the export of a key microchip material to South Korea, news reports said Saturday, days before the leaders of both countries meet in their first formal talks for more than a year.

Published 22 Dec, 2019 12:00am

Money & Banking

IMF approves $2.9 billion Ethiopia aid package

Ethiopia will receive $2.9 billion in a three-year aid package to help economic reform, the International Monetary Fund has confirmed.

Published 22 Dec, 2019 12:00am

Pope shakes up cardinals with further Vatican reform

Pope Francis on Saturday imposed mandatory term limits on one of his most powerful aides, the head of the powerful College of Cardinals, as he continues his wide-ranging institutional reform of the Vatican.

Published 22 Dec, 2019 12:00am

Airstrikes kill 12 civilians in Syria's Idlib

Air strikes by the Syrian regime and its ally Russia Saturday killed 12 civilians in the country's last major opposition bastion where a rise in violence has forced tens of thousands to flee.

Published 22 Dec, 2019 12:00am

Lebanon PM-designate begins tough talks to form government

Lebanon's prime minister-designate launched consultations Saturday to form a desperately-needed government for a protest-hit country facing economic collapse amid political rifts over the cabinet's line-up.

Published 22 Dec, 2019 12:00am

No Christmas Mass at Notre-Dame for first time in two centuries

Notre-Dame cathedral will fail to hold a Christmas mass for the first time since 1803, French officials confirmed on Saturday, as workers continue to repair and rebuild the Paris landmark eight months after a devastating fire.

Published 22 Dec, 2019 12:00am

Turkey parliament approves Libya military deal

The Turkish parliament approved Saturday a security and military cooperation deal with Libya, which will allow Turkey to widen its activities in the north African country.

Published 22 Dec, 2019 12:00am

India protests rage on as death toll rises to 21

Thousands of people joined fresh rallies against a contentious citizenship law in India on Saturday, with 21 killed so far in this month's unrest.

Published 22 Dec, 2019 12:00am

Money & Banking

Investors set for best German bond returns in five years

As a phenomenal year for bond markets draws to a close, investors in Germany, the euro zone's benchmark bond issuer, are set to reap their best returns in five years.

Published 22 Dec, 2019 12:00am

Stocks

Latam assets trend lower, but eye weekly gains

Latin American markets descended from recent peaks on Friday, but were set to end higher for the week amid positive trade headlines and a relatively strong outlook for 2020.

Published 22 Dec, 2019 12:00am

Money & Banking

MSCI to boost Kuwait equities with 2020 emerging markets upgrade

MSCI Inc, the world's largest index provider, said it will reclassify the MSCI Kuwait Indexes from frontier to emerging markets as the Kuwaiti equity market had met all the necessary requirements, a move expected to generate billions of dollars of inflows

Published 22 Dec, 2019 12:00am

Money & Banking

IMF deal lifts Ethiopia bonds as currency slides to record low

Ethiopia's dollar-denominated sovereign bonds jumped on Thursday to the highest since January 2018 while the currency eased to a fresh record low after Addis Ababa reached a staff-level agreement with the International Monetary Fund (IMF).

Published 22 Dec, 2019 12:00am

Stocks

Fund investors pull back from US stocks as year-end nears

US fund investors started closing the books on 2019 by withdrawing more than $10.9 billion from mutual funds and exchange-traded funds that hold domestic stocks last week, the largest pullback since early October, according to Investment Company Institute

Published 22 Dec, 2019 12:00am

Stocks

S&P posts biggest weekly gain since September

US stocks hit record closing highs again on Friday and the S&P 500 registered its biggest weekly percentage gain since early September after data showed a rise in consumer spending and investors continued to be optimistic about developments in the US-Chin

Published 22 Dec, 2019 12:00am

Money & Banking

Loonie pares weekly gain

The Canadian dollar weakened against its US counterpart on Friday, giving up much of this week's gains after domestic data showing a surprise decline in retail sales revived bets for a Bank of Canada interest rate cut next year.

Published 22 Dec, 2019 12:00am

Money & Banking

African currencies week ahead: Kenyan shilling, Zambian kwacha seen strengthening

Zambia's kwacha and Kenya's shilling are expected to strengthen against the dollar in the next week to Thursday, while Tanzania's shilling will hold steady, traders said.

Published 22 Dec, 2019 12:00am

Money & Banking

Brazil's weak currency, cheaper credit add to Amazon threats

Brazil's record-low interest rates and exchange rate threaten to accelerate Amazon deforestation, which has already risen sharply under Brazil's farm-friendly President Jair Bolsonaro, economists tell Reuters.

Published 22 Dec, 2019 12:00am

Money & Banking

Indian rupee on slippery slope for a year at least

The Indian rupee will not recover lost ground in the coming year, according to a Reuters poll of currency strategists who are more pessimistic than last month amid doubts over any kind of trade truce between the United States and China.

Published 22 Dec, 2019 12:00am

Money & Banking

Dollar records best week in 1-1/2 months on strong data

The dollar recorded its best week since early November after a series of strong US economic data releases that make a near-term cut in interest rates unlikely.

Published 22 Dec, 2019 12:00am

Cotton & Textile

Volume of business rises on cotton market

Volume of business improved on the cotton market on Saturday owing to fresh buying by mills and spinners, dealers said.

Published 22 Dec, 2019 12:00am

Commodities

US wheat futures pull back after recent gains

US wheat futures pulled back on Thursday on profit-taking after recent gains, traders said.

Published 22 Dec, 2019 12:00am

Energy

China's coking coal futures erase gains

Coking coal futures in China erased gains to edge lower on Thursday even as supply was disrupted after the southwestern province of Guizhou ordered smaller mines to halt production, while iron ore futures jumped nearly 2%.

Published 22 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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