News Archives for Print - 2019-12-23

Print - 2019-12-23

Verdict against Musharraf beyond constitution: Khalid

Federal Minister for Technology and Muttahida Qaumi Movement-Pakistan (MQM-P) Khalid Maqbool Siddiqui on Sunday said that a court has given verdict beyond the country's constitution and values in high treasons case against former president General Pervez

Published 23 Dec, 2019 12:00am

Movies & Music

Huge 'Skywalker' debut sales lowest of recent 'Star Wars' trilogy

"Star Wars" movie "The Rise of Skywalker" blasted into theaters with $374 million in global ticket sales over the weekend as fans rushed to see the final chapter in the long-running film saga, distributor Walt Disney Co said on Sunday.

Published 23 Dec, 2019 12:00am

Netanyahu accuses ICC of anti-Semitism in pursuit of war crimes probe

Israeli Prime Minister Benjamin Netanyahu accused the International Criminal Court of anti-Semitism on Sunday over its chief prosecutor's plan to pursue a war crimes probe in the Palestinian Territories.

Published 23 Dec, 2019 12:00am

Stocks

Futures spread up by 338bps

The futures spread increased by 338bps to 10.66 percent on the last day of the outgoing week.

Published 23 Dec, 2019 12:00am

Stocks

PSX remains under pressure

Pakistan Stock Exchange opened on strong positive note on Monday, however, remained under pressure during the remaining days of the outgoing week due to prevailing political situation in the country.

Published 23 Dec, 2019 12:00am

EIB chief slams slow industrial response to climate change

The president of the European Investment Bank, the EU's lending arm, has sharply criticised industrial companies for reacting too slowly to climate change, saying some bosses had been "asleep at the wheel".

Published 23 Dec, 2019 12:00am

India may hold fake operation to divert attention: Qureshi

Foreign Minister Shah Mehmood Qureshi Sunday called upon the international community to take notice of dangerous steps taken by Indian government, badly affecting peace of South Asia. In a statement, the Foreign Minister referred to the continued protest

Published 23 Dec, 2019 12:00am

Modi seeks to soothe India's Muslims

Prime Minister Narendra Modi sought Sunday to reassure India's Muslims as a wave of deadly protests against a new citizenship law put his Hindu nationalist government under pressure like never before.

Published 23 Dec, 2019 12:00am

Crucial CCI session today

Prime Minister Imran Khan will chair meeting of Council of Common Interests (CCI) today (Monday)-an expected stormy session in which Sindh and Khyber Pakhtunkhwa are likely to raise issues on Renewable Energy policy and Net Hydel Profit.

Published 23 Dec, 2019 12:00am

Power plants, Discos: PD opposes 'immediate' sell-off

Power Division has opposed "immediate" privatisation of two power plants and power Distribution Companies (Discos) prior to their restructuring and re-organization, well informed sources told Business Recorder.

Published 23 Dec, 2019 12:00am

Ghani headed for second term

Afghanistan's incumbent President Ashraf Ghani won a slim majority of votes in a Sept. 28 election, delayed preliminary results showed on Sunday, after a poll that plunged the country into political crisis and was marred by allegations of fraud.

Published 23 Dec, 2019 12:00am

Money & Banking

Mixed patterns

The rupee moved both ways against the dollar during the week, ended on Dec 21, 2019.

Published 23 Dec, 2019 12:00am

US sanctions cannot stop gas pipeline to Europe: Russia

Russia's foreign minister insisted on Sunday that a flagship project to pipe natural gas to Europe would be finished, despite the United States slapping sanctions on the companies involved.

Published 23 Dec, 2019 12:00am

Muslims in India: OIC expresses its concerns over recent developments

The General Secretariat of the Organisation of Islamic Cooperation (OIC) has been closely following recent developments affecting Muslim minority in India.

Published 23 Dec, 2019 12:00am

Thousands mourn Bangladeshi charity pioneer

Thousands gathered in Bangladesh on Sunday for the funeral of Fazle Hasan Abed, founder of one of the world's largest NGOs and credited with lifting nearly 150 million people out of poverty. The 83-year-old passed away on Friday in a Dhaka hospital while

Published 23 Dec, 2019 12:00am

Conference in Nairobi on January 30-31: Government seeks to boost exports through 'Look Africa policy' initiative

Pakistan-Africa Trade development conference scheduled for 30-31 January in Nairobi, Kenya will be sponsored by Ministry of Commerce as part of its "Look Africa Policy" to achieve geographical diversification of exports.

Published 23 Dec, 2019 12:00am

Australia PM visits beleaguered firefighters

Prime Minister Scott Morrison visited firefighters battling Australia's bushfire crisis on Sunday as he apologised for a Hawaiian holiday that ended early after public outrage.

Published 23 Dec, 2019 12:00am

Ahsan Iqbal summoned by NAB

The National Accountability Bureau (NAB) summoned Pakistan Muslim League-Nawaz (PML-N) secretary-general Ahsan Iqbal to appear before the anti-graft body today (Monday) in the alleged corruption in multi-billion Sports City Project in Norowal.

Published 23 Dec, 2019 12:00am

IOK residents: No change in visa policy: FO

Foreign Office on Sunday rejected the reports of any change in Pakistan's visa policy for the residents of Indian occupied Jammu and Kashmir as baseless and incorrect, asserting that there has been no change in the visa policy.

Published 23 Dec, 2019 12:00am

Cuba gets first prime minister in over 40 years

Cuba's first prime minister in more than four decades - long-serving tourism minister Manuel Marrero - took office Saturday as the country resurrected a post last held by Fidel Castro.

Published 23 Dec, 2019 12:00am

Articles

'Unlocking exports'

In his op-ed titled "The only way forward: Unlocking exports" carried by Business Recorder yesterday, Ali Khizar has made a sardonic comment on the present government's approach to economic challenges. He seemed to have reached the conclusion that

Updated 23 Dec, 2019 07:49am

Articles

As US Congress delays on privacy, California law in focus

As US lawmakers head home without agreeing on consumer privacy legislation, a new California law is set to become the de facto national standard, potentially leaving consumers and businesses confused over rules for personal data collection and protection.

Updated 23 Dec, 2019 07:09am

Articles

Modi's fascist secularism

"Arrogance is a killer,": Jack Welch. This statement from a World Corporate Guru is surely not just a good feel quote. This is true. When you see many world leaders around, you may question its pragmatism. Modi defenders, and there are many, will dismiss

Updated 23 Dec, 2019 07:01am

Articles

Human Development Report 2019

Pakistan was ranked 152 out of 189 countries on Human Development Index (HDI) as per the United Nations Development Programme (UNDP) annual report. The index measures long-term progress on life expectancy, knowledge (number of years of schooling) and stan

Updated 23 Dec, 2019 06:51am

Khushwant Singh was exactly right

Whatever Narendra Modi is doing to India at this point in time, Khushwant Singh had foreseen it. In his book 'The End of India', written in the wake of anti-Muslim riots in Gujarat, he had foreseen Modi as reincarnation of Hitler. Some of Singh's words me

Updated 24 Dec, 2019 06:23am

Jump in foreign investment

Inflows of foreign investment into Pakistan during the current fiscal have been quite impressive. According to the latest data released by the State Bank, Foreign Direct Investment (FDI) surged by dollar 373 million or 78 percent to dollar 850 million dur

Updated 23 Dec, 2019 09:29am

10th Junior leader's moot begins in Karachi

The three-day 10th Junior Leaders Conference (JLC) has begun with a grand inauguration to empower teenagers with leadership skills, confidence and exposure, at Dream World Resort Sunday.

Published 23 Dec, 2019 12:00am

Business & Economy

There's long-term development plan for KP: CM

Chief Minister Khyber Pakhtunkhwa Mahmood Khan said that the PTI government has made a long-term plan for the overall development of the province.

Published 23 Dec, 2019 12:00am

AGP detects Rs 1.45 billion losses in KP agriculture department

The Auditor General of Pakistan (AGP) has detected losses to the tune of Rs 1.448 billion in the Agriculture Department of Khyber Pakhtunkhwa during financial year 2015-16, said audit report on the accounts of KP Department.

Published 23 Dec, 2019 12:00am

RRI-KSK claims to havedeveloped new Basmati variety

Rice Research Institute Kala Shah Kaku (RRI-KSK) has claimed to develop a new Basmati variety called 'Super Basmati 2019' having over 10 per cent more per acre yield against the existing varieties and Average Grain Length (AGL) of 7.6 mm.

Published 23 Dec, 2019 12:00am

Pakistan Navy ships visit South Africa

Pakistan Navy Ships MOAWIN and ASLAT visited Simon's Town, South Africa as part of Overseas Deployment to the African region. During the visit, Mission Commander & Commanding Officers of the visiting ships called on prominent South African authorities inc

Published 23 Dec, 2019 12:00am

Business & Economy

DC for rapid completion of Kashmir bridge underpass

Divisional Commissioner Ishrat Ali has asked the concerned officers to accelerate their administrative and technical efforts for speedily completion of Kashmir bridge underpass mega project at Canal road.

Published 23 Dec, 2019 12:00am

Firdous explains profundity of Two-nation theory

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Sunday said that the Two-Nation Theory had won as today the Indians, particularly Muslims, were remembering its great proponent Quaid-e-Azam Muhammad Ali Jinn

Published 23 Dec, 2019 12:00am

Telecommunication

Telenor, Serena Hotels launch 'S TEL' to facilitate guest

To ensure seamless connectivity for tourists and guests, Telenor Pakistan, in partnership with Serena Hotels Pakistan, has launched a revolutionary, first-of-its-kind digital platform. This solution, called 'S TEL,' will be a complimentary service for Ser

Published 23 Dec, 2019 12:00am

Open-door policy: CS voices concern over non-implementation

Expressing displeasure over non-implementation of open door policy and delay in holding meetings of parliamentarians by deputy commissioners in some districts, the Chief Secretary Punjab Azam Suleman Khan has directed that guidelines about improving gover

Published 23 Dec, 2019 12:00am

Sunflower to be cultivated over 260,000 acres of land in Punjab

The 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 cultivated on more than 2.60 lakh acres of land in different areas of the province.

Published 23 Dec, 2019 12:00am

Business & Economy

FPCCI elections: SCCI supports BMP panel

Swabi Chamber of Commerce and Industry (SCCI) has announced support to the candidate of Businessman Panel (BMP), Mian Anjum Nisar and his panel for the upcoming annual elections of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI). The e

Published 23 Dec, 2019 12:00am

Business & Economy

PTI government 'not doing enough' on economic front: Balwani

Pakistan Tehreek-e-Insaf government is not doing what was expected to turn things around by taking robust economic measures. This was stated by Javed Balwani, chairman, Pakistan Apparel Forum, while talking to Business Recorder. He further stated t

Published 23 Dec, 2019 12:00am

Energy

Centre urged to nominate BoD, BoG representatives

The Sindh government on Sunday urged the federal government to nominate the representatives of the provinces as members to the Board of Directors, Board of Governors or management committees of federal entities in the electricity sector in order to bring

Published 23 Dec, 2019 12:00am

GHA Peshawar reprints rare books on history, culture

The Gandhara Hindko Academy (GHA), Peshawar has reprinted 13 rare books on history, culture and archaeology penned by late scholar Sardar Muhammad Jaffar who was popularly known as SM Jaffar.

Published 23 Dec, 2019 12:00am

Poor cleanliness arrangements in Lahore

Punjab Chief Minister Usman Buzdar has expressed displeasure over poor cleanliness arrangements in some areas of the provincial capital and sought a report from Commissioner, Deputy Commissioner and the Lahore Waste Management Company.

Published 23 Dec, 2019 12:00am

JI chief accuses PM of 'mishandling' Kashmir issue

Jamaat-e-Islami (JI) chief Siraj-ul-Haq has said that Pakistan is confronted with more serious problems such as Kashmir and the inflation, than 'hanging of former president General Pervez Musharraf (retd) in the high treason case'.

Published 23 Dec, 2019 12:00am

ATP chief speaks about criticality of speedy dispensation of justice

Chairman, Amun Taraqqi Party (ATP), Muhammad Faiq Shah has said that the speedy dispensation of justice is essential for uplift of society. Shah was talking to a group of media persons here on Sunday. ATP chairman said that injustice, cruel and illiteracy

Published 23 Dec, 2019 12:00am

Prices of essential items witness upward trend

Prices of essential food commodities, including pulses, vegetable, chicken meat, fruits, sugar and others have increased in retail market, according to a survey conducted by Business Recorder here on Sunday.

Published 23 Dec, 2019 12:00am

Shujaat urges parties to act responsibly

Pakistan Muslim League (PML) President and former prime minister Chaudhry Shujaat Hussain has said that national interests are foremost dear to his party. He said that for solution of people's problems, all political parties should play responsible role a

Published 23 Dec, 2019 12:00am

Two bodies abandoned in JPMC premises; four held

Police have taken four men into custody in the wake of two bodies of unknown persons left at the Jinnah Postgraduate Medical Centre (JPMC). According to the Sadar police, the four people were held during a raid in the Saeedabad area of the metropolis. The

Published 23 Dec, 2019 12:00am

Taxes

KP excise department auctions 79 seized vehicles

Khyber Pakhtunkhwa Excise, Taxation and Narcotics Control Department in its 89th auction ceremony, auctioned 79 of its vehicles seized in different illegal activities, say officials. Ijaz Khan, provincial Excise warehouse in-charge told media here on Sund

Published 23 Dec, 2019 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: Cautious buying witnessed; prices remain stable

The prices of cotton remained stable. The cotton market will have a positive impact of the reconciliation between China and America. The seeds allegedly having the capacity of doing wonders are going to be introduced!

Published 23 Dec, 2019 12:00am

Business & Economy

Belgian exhibition held at RCCI

Belgian Business Contact Day and Catalogue Exhibition was held here at the Rawalpindi Chamber of Commerce and Industry (RCCI) aiming to explore new avenues of trade and expand existing relations between the business community of the two countries.

Published 23 Dec, 2019 12:00am

Telecommunication

Mobile phone import up by 63 percent in five months

The import of mobile phones into the country increased by 63.62 percent during the first five months of current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported mobile phones worth US $ 498.466 million durin

Published 23 Dec, 2019 12:00am

OGDCL donates 15 ambulances under CSR programme

Oil & Gas Development Company Limited (OGDCL) donates 15 ambulances worth rupees 90 million under its Corporate Social Responsibilities (CSR) program for the communities living around the areas of Oil & Gas Fields through respectable MNA & MPS of the regi

Published 23 Dec, 2019 12:00am

Taxes

Drive against MVT defaulters starts today

Sindh Excise and Taxation (E&T) Department has decided to take action against tax defaulting vehicles and a road checking campaign against Motor Vehicle Tax (MVT) defaulters is going to be launched from December 23 across Sindh province.

Published 23 Dec, 2019 12:00am

Pakistani students praise Chinese teacher

A number of international students particularly Pakistanis studying at Hunan Vocational College of Chemical Technology has praised their Chinese teacher for taking the utmost care of their food and looking after them during sickness.

Published 23 Dec, 2019 12:00am

Brief Recordings

An interview with Aslam Faruque, Chairman Pakistan Sugar Mills Association (PSMA)

'Price-fixing of cane monetizes inefficient agricultural practices'

Updated 23 Dec, 2019 11:31am

White House does not want prolonged impeachment trial

The White House does not want to see a prolonged impeachment trial in the US Senate, a senior administration official said on Sunday, suggesting President Donald Trump is comfortable with proceeding without calling witnesses in his defense.

Published 23 Dec, 2019 12:00am

Jihadists kill six and abduct five in northeast Nigeria

IS-aligned jihadists killed six people and abducted five others in northeast Nigeria Sunday, after blocking a major highway and singling out security officials, aid workers and Christians, witnesses said. Around 30 fighters from the Islamic State West Afr

Published 23 Dec, 2019 12:00am

Erdogan says Turkey will increase military support to Libya if necessary

Turkey will increase its military support to the internationally recognised government of Libya if necessary and will evaluate ground, air and marine options, President Tayyip Erdogan said on Sunday, after the two signed a military cooperation accord last

Published 23 Dec, 2019 12:00am

Egypt, Ethiopia, Sudan views come closer on giant Nile dam

Egypt, Ethiopia and Sudan have come closer to aligning their views on filling the reservoir of and operating the giant hydroelectric dam that Ethiopia is building on the Blue Nile, the Sudanese irrigation minister said on Sunday.

Published 23 Dec, 2019 12:00am

US slams China, Russia veto on Syria aid as 'shameful'

US Secretary of State Mike Pompeo on Saturday described as "shameful" Russia and China blocking a UN Security Council resolution that would have extended for a year cross-border humanitarian aid to four million Syrians. "The Russian Federation's and China

Published 23 Dec, 2019 12:00am

Greek foreign minister makes whirlwind regional tour amid sea dispute

Greece's foreign minister was on a whirlwind tour of eastern Libya, Egypt and Cyprus Sunday amid tensions with Turkey following Ankara's contentious maritime deal with the Tripoli government. The agreement signed last month expands Turkey's claims over a

Published 23 Dec, 2019 12:00am

North Korea's Kim discusses bolstering military as deadline approaches

North Korean leader Kim Jong Un discussed strengthening his country's military capability with top military officials, state media reported Sunday, with Pyongyang's end-of-year deadline for the US to offer concessions approaching.

Published 23 Dec, 2019 12:00am

Trump invites UK's Johnson to White House in new year

US President Donald Trump has invited British Prime Minister Boris Johnson to visit him in the White House in the new year, British media reported on Sunday. Trump's invitation was made after the British prime minister's election win this month, The Sunda

Published 23 Dec, 2019 12:00am

Egypt reinstates information ministry in cabinet portfolio reshuffle

Egypt will reinstate the country's information ministry and President Abdel Fattah al-Sisi has put the prime minister directly in charge of the government's investment portfolio, in a cabinet reshuffle approved by parliament on Sunday.

Published 23 Dec, 2019 12:00am

NASA, Boeing investigating why Starliner spacecraft missed orbit

The Boeing Co Starliner spacecraft that failed to hit the right orbit to reach the International Space Station is healthy, in a stable orbit and expected to land in New Mexico on Sunday morning, NASA said.

Published 23 Dec, 2019 12:00am

Money & Banking

Global regulator ratchets up pressure on banks and markets to ditch Libor

Pressure on banks and financial markets to ditch the tarnished Libor interest rate by the end of 2021 will increase next year as a global watchdog scrutinises progress in switching to new pricing benchmarks. Libor is used to price contracts worth around $

Published 23 Dec, 2019 12:00am

Money & Banking

Dollar set to maintain strength, low volatility to greet 2020

The US dollar, which has dominated the currency market for the past couple of years, is likely to maintain its position of strength despite diminishing returns from the most overcrowded trade of the year, a Reuters poll of strategists found.

Published 23 Dec, 2019 12:00am

Stocks

Petrochemicals lift Saudi shares, Qatar rises on banks

Saudi Arabia's main stock market index rose for a sixth consecutive session on Sunday as gains in petrochemical shares overshadowed losses in oil giant Aramco, while Qatar was boosted by financials. Saudi Arabia's benchmark index edged up 0.1% with Al Raj

Published 23 Dec, 2019 12:00am

Stocks

China IPO hopefuls surge to three-year high encouraged by market reform

The number of companies seeking to go public in mainland China has jumped to about 580, a three-year high, encouraged by a slew of market reforms and a bumper year for equity financing in 2019 It includes 420 Chinese firms waiting approval to list in Shan

Published 23 Dec, 2019 12:00am

Stocks

UK stocks may move from Brexit fear to 'fear of missing out'

The scale of Boris Johnson's election victory on Thursday may be enough to draw back billions of pounds of investment that have sidestepped UK stocks for years over Brexit, mirroring the US market surge seen after Donald Trump's election three years ago.

Published 23 Dec, 2019 12:00am

Money & Banking

Payment firm Tyro to brave Australia's tough IPO market before Christmas

Australia's Tyro Payments is preparing to list in December and is seeking a valuation of more than A$1.5 billion ($1 billion), two people said, braving negative market sentiment following six initial public offering (IPO) cancellations this month.

Published 23 Dec, 2019 12:00am

Money & Banking

China keeps LPR lending rate steady, but more easing expected

China kept its lending benchmark rate unchanged on Friday, but markets widely expect further monetary easing in 2020 to arrest an economic slowdown in the world's second-largest economy. Premier Li Keqiang said this week the economy could face even bigger

Published 23 Dec, 2019 12:00am

Stocks

Foreigners turn net buyers of Japanese stocks

Foreign investors turned net buyers of Japanese equities in the week ended Dec. 13 on renewed optimism in the run-up to the Sino-US interim trade deal. Net buying, including cash equities and futures, was 626.82 billion yen ($5.77 billion) last week, the

Published 23 Dec, 2019 12:00am

Money & Banking

New York state regulator proposes new framework for crypto coin listings

New York State's financial regulator on Wednesday proposed a plan that would allow licensed virtual currency firms that have already received approval for coin listings to introduce new coins without additional permission.

Published 23 Dec, 2019 12:00am

Stocks

Wall Street week ahead: History suggests rally may slow for US stocks in 2020

The outsized rally in the US stock market this year may give way to a more muted performance in 2020 if history is any guide. The benchmark S&P 500 is up nearly 28% for the year, which if the market closed this week for the year, would mark the second-bes

Published 23 Dec, 2019 12:00am

Energy

UAE's Brooge Petroleum to start trading on Nasdaq today

UAE-based Brooge Petroleum and Gas Investment Co (BPGIC) said it will start trading on New York's Nasdaq stock exchange on Monday, following its merger with U.S. company Twelve Seas Investment Co. Oil storage company BPGIC completed the merger on Friday,

Published 23 Dec, 2019 12:00am

China lifts ban on some Japanese beef imports amid meat shortages

China has lifted a ban on deboned beef from Japanese cows under 30 months old, the General Administration of Customs said in a notice, ending an almost two-decade long restriction on beef imports from the country.

Published 23 Dec, 2019 12:00am

Global Business Economy

German cabin crew union threatens Lufthansa strikes after 'failed' talks

German cabin crew union UFO said arbitration talks with Lufthansa on Sunday had failed and its members could stage strikes any time from now on, though they would spare passengers industrial action on Dec. 24, 25 and 26. In addition to a dispute over pay

Published 23 Dec, 2019 12:00am

Money & Banking

Ex-chairman of Popolare di Bari investigated for alleged corruption

Prosecutors in the southern Italian town of Bari are investigating the former chairman of Popolare di Bari for alleged corruption in relation to the central bank's supervisory activity over the failing local lender, a judicial source said on Sunday.

Published 23 Dec, 2019 12:00am

Money & Banking

Second Credit Suisse spying probe expected to clear CEO

A second probe into staff surveillance at Credit Suisse is set to clear Chief Executive Tidjane Thiam, Swiss newspaper SonntagsZeitung reported on Sunday. Credit Suisse last week said it had initiated an investigation after a Swiss newspaper reported that

Published 23 Dec, 2019 12:00am

Global Business Economy

Strike makes for not-so-merry Christmas travel in France

Holiday travellers across France scrambled for alternatives Sunday as an 18-day-old transport strike over pension reform saw train services slashed yet again. President Emmanuel Macron issued an appeal on Saturday for a truce over the holidays, three days

Published 23 Dec, 2019 12:00am

Telecommunication

Huawei should be allowed 5G role in Italy

Chinese telecoms firm Huawei should be allowed a role in Italy's future 5G network, the Italian industry minister said on Sunday after an influential parliamentary committee called on Rome to block the company. The United States has lobbied Italy and othe

Published 23 Dec, 2019 12:00am

Money & Banking

Bulgaria's Fibank plans to raise $113 million to boost capital

Bulgaria's fourth largest lender First Investment Bank (Fibank) plans to raise 200 million levs ($113.3 million) to help cover a capital shortfall found by the European Central Bank as the country moves towards adopting the euro.

Published 23 Dec, 2019 12:00am

Energy

Greece says EastMed pipeline deal to be signed on January 2

The Greek government said Sunday it will sign an agreement for a huge pipeline project with Cyprus and Israel next month that is designed to ship gas from the eastern Mediterraneean to Europe.

Published 23 Dec, 2019 12:00am

Money & Banking

Goldman Sachs forms new alternative capital markets group

Goldman Sachs Group Inc said on Monday it is forming a new group within its merchant banking division called the alternatives capital markets and strategy group. The move comes as the bank is ramping up efforts to increase revenue from its alternative inv

Published 23 Dec, 2019 12:00am

Global Business Economy

Micron signals recovery in 2020, says received supply licenses for Huawei

Micron Technology Inc said on Wednesday it expected a recovery in 2020 after a "cyclical bottom" in the second quarter, and that it had received all requested licenses to supply some products to its largest customer, Huawei.

Published 23 Dec, 2019 12:00am

Money & Banking

M&A bankers will turn climate risk into clients

The looming $46 billion merger of France's Peugeot and Fiat Chrysler Automobiles may go down as one of the first major corporate tie-ups driven by climate risk. Yet the novelty will quickly wear off as chief executives wake up to the financial impact of g

Published 23 Dec, 2019 12:00am

Energy

Exxon, Chevron face new round of shareholder climate resolutions

An activist group is increasing the pressure on five big US and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting US giants ExxonMobil, Chevron an

Published 23 Dec, 2019 12:00am

Money & Banking

DIB shareholders approve Noor Bank acquisition

Dubai Islamic Bank (DIB), the United Arab Emirates' largest Sharia-compliant bank, said on Wednesday it had received shareholder approval for the acquisition of unlisted Dubai-based Noor Bank. With the acquisition, DIB will become one of the largest Islam

Published 23 Dec, 2019 12:00am

Global Business Economy

Hitachi to sell chemical unit, medical equipment business for $6 billion

Japan's Hitachi Ltd said on Wednesday it would sell its listed chemicals unit and diagnostic imaging business in a deal totalling 673 billion yen ($6.2 billion), as the Japanese industrial conglomerate overhauls its business portfolio.

Published 23 Dec, 2019 12:00am

IT & Computers

Intel buys AI startup Habana Labs for $2 billion

Intel Corp has acquired Israel-based artificial intelligence firm Habana Labs for about $2 billion, the chipmaker said on Monday, in a bid to strengthen its fast-growing data-centre business. As PC sales have stagnated, Intel has increasingly been dependi

Published 23 Dec, 2019 12:00am

Global Business Economy

Boeing's production pause will not end 737 Max cash burn: analysts

Boeing Co is expected to continue burning cash despite pausing production of its 737 MAX jet, as it will leave its workforce intact and likely provide support to suppliers, analysts said. Some estimated the cash burn at around $1 billion a month.

Published 23 Dec, 2019 12:00am

Global Business Economy

Volkswagen attracts bids for MAN Energy Solutions unit

Volkswagen has attracted bids from Europe's Innio, Japan's Mitsubishi Heavy and US-based Cummins for its MAN Energy Solutions, which makes diesel engines for ships and power generators, people close to the matter said. Innio, formerly known as Jenbacher a

Published 23 Dec, 2019 12:00am

Global Business Economy

Daimler seeks majority control of its main China joint venture

Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker.

Published 23 Dec, 2019 12:00am

Sustained weight loss in middle-age may lower breast cancer risk

In women over age 50, losing just four pounds and keeping the weight off can lower breast cancer risk, a new study suggests. Researchers who reviewed data from 180,000 women found the more weight a woman lost - and kept off - the lower her risk of breast

Published 23 Dec, 2019 12:00am

E-cigarettes raise lung disease risks, but less than smoking: study

E-cigarette use significantly increases the risk of developing chronic lung diseases like asthma, bronchitis, emphysema and chronic obstructive pulmonary disease, according to a long term study published on Monday that also found vaping was less harmful t

Published 23 Dec, 2019 12:00am

Ramping up exercise tied to lowered heart disease risk in older adults

Sedentary older adults can help lower their risk of heart disease if they start exercising, a new study confirms. Researchers examined data on more than 1.1 million people aged 60 and older without any history of heart disease who had two health screening

Published 23 Dec, 2019 12:00am

November 2019 was second hottest on record: US

Last month was the second hottest November in the 140-year global climate record, a US government agency said on Monday, adding that polar sea ice also shrank to near-record lows. The average global land and ocean surface temperature for November 2019 was

Published 23 Dec, 2019 12:00am

IT & Computers

Apple, Google, Amazon eye common standard for smart home devices

Will Amazon's Alexa, Apple's Siri and Google Assistant finally get along? The major digital assistants could operate on a common technology standard under a plan announced Wednesday by Amazon, Apple and Google and other industry partners that aims to enab

Published 23 Dec, 2019 12:00am

Telecommunication

Mobile phones top list of tech speeding up aid operations in 2019: poll

Mobile technology had the biggest benefit of all technology on aid operations in 2019, according to an exclusive poll by the Thomson Reuters Foundation on Wednesday, with drones and satellites also helping to speed up help to people in need.

Published 23 Dec, 2019 12:00am

IT & Computers

Facebook says it can locate users who opt out of tracking

Facebook can determine where users are even if they opt out of having their whereabouts tracked, the company revealed in a letter sent to US senators. In the missive, which was widely shared on social media Tuesday, Facebook explained ways it can still fi

Published 23 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	157.10
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
S&P 500 / Dec 23	5,974.07
Nasdaq / Dec 23	19,764.89
Dow Jones / Dec 23	42,906.95
Germany DAX 30 / Dec 23	19,848.77
India Sensex / Dec 24	78,616.57
Tokyo Nikkei / Dec 24	39,036.85
Hang Seng / Dec 24	20,098.29
FTSE 100 / Dec 24	8,130.86

Item	Value
Gold 10 Grams PKR / Dec 23	241,087.80
Crude Oil USD/Barrel / Dec 24	69.54
Karachi Cotton PKR/37.32 KG / Dec 24	17,785
Gold Spot USD/Ounce / Dec 24	2,618.54
Cotton US¢/pound / Dec 24	69.13
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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