News Archives for Print - 2019-12-24

Print - 2019-12-24

Holiday Notice

KARACHI: The office of Business Recorder will remain closed today, Wednesday (December 25) on account of birth anniversa

Updated 25 Dec, 2019 05:12pm

Exchange rate: SBP confirms its commitment, says IMF

The State Bank of Pakistan (SBP) has confirmed its commitment to a flexible and market-determined exchange rate, using interventions only for disorderly market conditions.

Published 24 Dec, 2019 12:00am

Government says IT on BISP spending not met

Pakistan has informed the International Monetary Fund (IMF) that end-September indicative target (IT) on BISP spending was not met due to technical constraints, but committed to rectify the shortfall by end-December and reaffirmed that budgetary allocatio

Published 24 Dec, 2019 12:00am

Two RLNG power plants: Privatisation committed

The federal government has committed with the International Monetary Fund (IMF) in the first review of IMF's Pakistan's extended fund facility that privatization of two RLNG power plants will be completed by end of financial year 2020, said a report relea

Published 24 Dec, 2019 12:00am

Wholesale tax policy reform: Preparations need to start early: Fund

The Interna-tional Monetary Fund (IMF) has said that the preparations for a wholesale tax policy reform envisaged as part of the fiscal year (2020-21) budget need to start early to ensure timely implementation.

Published 24 Dec, 2019 12:00am

GST harmonization: IMF for setting up JWG

The Intern-ational Monetary Fund (IMF) has recommended Pakistan to establish a joint working group comprising Center and provinces to provide recommendations on General Sales Tax (GST) harmonization to be approved by the Council of Common Interests (CCI)

Published 24 Dec, 2019 12:00am

Four new structural benchmarks set

The Intern-ational Monetary Fund (IMF) has set four new structural benchmarks including avoiding the practice of issuing new preferential tax treatments or exemptions and presentation of the federal government mid-year budget review report to the National

Published 24 Dec, 2019 12:00am

There will be no tax amnesty schemes, IMF told

Pakistan has committed to the international Monetary Fund (IMF) of not granting any further tax amnesty schemes. According to the Letter of Intent (LoI) submitted to IMF, Pakistan has stated that "we have refrained from granting further tax amnesties."

Published 24 Dec, 2019 12:00am

IMF says risks to outlook remain high

The absence of majority by the ruling party in the Senate of Pakistan may hinder the adoption of legislation needed to achieve program objectives, which could jeopardize the availability of external financing, besides a potential blacklisting by the Finan

Published 24 Dec, 2019 12:00am

Cotton production: Target revised downward for second time

The Cotton Crop Assessment Committee (CCAC) has revised cotton production target downward for the second time in current season (2019-20) by around 37 percent and set it at 9.45 million bales against the initial target of 15 million bales, it is learnt. T

Published 24 Dec, 2019 12:00am

Stocks

PSX closes in deep red: BRIndex100 nosedives

Pakistan Stock Exchange Monday took a massive beating from the internal and external headwinds and closed in deep red with drastic declines.

Published 24 Dec, 2019 12:00am

Iran and India agree to speed up major port project

Tehran and Delhi have agreed to accelerate the development of an important Iranian port, India's foreign minister said during a visit to the sanctions-hit Islamic republic on Monday.

Published 24 Dec, 2019 12:00am

Bilawal dares NAB officials to arrest him

Pakistan Peoples' Party (PPP) chairman Bilawal Bhutto Zardari on Monday appeared in belligerent mood with state authorities, challenging the National Accountability Bureau (NAB) to arrest him, if it has courage to do so.

Published 24 Dec, 2019 12:00am

Maryam's petition: Hearing adjourned to December 26

The Lahore High Court (LHC) on Monday adjourned for December 26 the hearing of petition of Maryam Nawaz. The court deferred the hearing and observed that it cannot issue any order till the government's decision on the matter.

Published 24 Dec, 2019 12:00am

Miftah Ismail gets bail

The Islamabad High Court (IHC) on Monday granted post-arrest bail to former finance minister Miftah Ismail in the liquefied natural gas (LNG) corruption case.

Published 24 Dec, 2019 12:00am

PML-N's Ahsan Iqbal arrested

The National Accountability Bureau (NAB) on Monday arrested senior Pakistan Muslim League-Nawaz (PML-N) leader and former interior minister Ahsan Iqbal in the Narowal Sport City Complex Project (NSCCP) scam.

Published 24 Dec, 2019 12:00am

Judicious distribution of water: CCI decides to form body

The Council of Common Interests (CCI) on Monday decided to form a committee for judicious distribution of water among all the provinces.

Published 24 Dec, 2019 12:00am

Drive against unregistered units begins

The Directorate of Intelligence & Investigation, Inland Revenue, Karachi has kicked off massive campaign against persons involved in taxable activities without getting sales tax registration and payment of due taxes.

Published 24 Dec, 2019 12:00am

Bank holiday

The State Bank of Pakistan (SBP) and all banks will remain closed on December 25, 2019 (Wednesday) on the occasions of Quaid-e-Azam Day and Christmas, as declared by the Government of Pakistan.

Published 24 Dec, 2019 12:00am

Effective Jan 1, 2020: Yen added to ACU mechanism: SBP

Japanese yen has been added as the third currency along with USD and euro to the Asian Clearing Union (ACU) mechanism with effect from next year, a circular issued by the State Bank of Pakistan (SBP) said Monday.

Published 24 Dec, 2019 12:00am

Saudi court sentences five to death over Khashoggi murder

Five people were sentenced to death Monday over Saudi journalist Jamal Khashoggi's murder, but two top aides to the powerful crown prince were exonerated as authorities said the killing was not premeditated.

Published 24 Dec, 2019 12:00am

Turnover tax to be slashed to 0.5 percent, FBR tells NA panel

The Federal Board of Revenue (FBR) has stated that as per agreement with traders, turnover tax would be decreased from 1.5 percent to 0.5 percent and limit of annual turnover tax would be increased to Rs 100 million from Rs 10 million.

Published 24 Dec, 2019 12:00am

Letters

'Power sector'

Business Recorder op-ed writer Farhat Ali in his latest contribution for the newspaper has again painstakingly highlighted the ills that afflict country's power sector. He has, for example, pointed out that "Circular debt is the outcome of lapses d

Updated 24 Dec, 2019 05:59am

Articles

It's a dog's life

This story starts in Dallas, Texas. I don't travel much now - having spent part of my professional life on the Wright Brothers' invention. Hurtling along at 30,000 feet in an aluminum cylinder is not much fun. Despite the creature comforts and the comely

Published 24 Dec, 2019 12:00am

Articles

Framework for a sustainable economic future

Pakistan is unique in many ways and possesses many attributes which should have made it an economic and political powerhouse. We possess immense potential in terms of natural resources, a budding youth population with potential to form an energetic workfo

Updated 24 Dec, 2019 09:56am

Articles

Fall in industrial output

The fall in output of the large-scale manufacturing sector has become pervasive and persistent in nature. Given the strong backward and forward linkages of this sector with other sectors of the national economy this does not auger well for GDP growth in 2

Updated 24 Dec, 2019 06:07am

Foreign policy debacle

What was being hinted at in media reports over the last few days has now been exposed by Turkish President Recep Tayyip Erdogan. Speaking to Turkish media on November 20, 2019, President Erdogan without pulling any punches claimed Saudi Arabia had coerced

Updated 24 Dec, 2019 06:30am

LSM down 6.48 percent: there's something wrong

According to the latest provisional quantum index numbers of large-scale manufacturing (LSM) sector released by the Pakistan Bureau of Statistics (PBS), the country witnessed a four-month decline (July-October) of 6.48 percent compared to the comparable p

Updated 24 Dec, 2019 06:30am

AJ&K to get Rs 433 million grant to mitigate landslide-related risks

The government of Pakistan will provide a grant of Rs432.56 million to the government of Azad Jammu and Kashmir (AJ&K) to mitigate landslide related risks in Poonch Division of the state.

Published 24 Dec, 2019 12:00am

Musharraf's sentence: Appeal could be filed in SC: Awan

Pakistan Tehreek-e-Insaf (PTI) leader Babar Awan on Monday categorically said that an appeal could be filed in the Supreme Court against the high treason case verdict by former president Pervez Musharraf in his absence.

Published 24 Dec, 2019 12:00am

Post-arrest bail petition of Rana: LHC to announce verdict today

The Lahore High Court on Monday reserved its verdict on post-arrest bail petition of former law minister Rana Sanaullah Khan in 15-kg heroin recovery case. Justice Chaudhry Mushtaq Ahmad observed, "The verdict will be announced today", after the lawyers o

Published 24 Dec, 2019 12:00am

Ogra proposes increase in gas prices: Urea fertilizer prices likely to increase by Rs 600 per 50-kg bag

The prices of urea fertilizer are likely to increase by Rs 600 per 50kg bag if OGRA's proposed increase in gas prices is notified, which would hit badly the already dwindling agriculture sector.

Published 24 Dec, 2019 12:00am

Energy

Cabinet to approve appointment of 9 new NPPMC board members today

The federal Cabinet which is scheduled to meet on Tuesday (Dec 24) will approve nine new board members of the National Power Parks Management Company (NPPMC).

Published 24 Dec, 2019 12:00am

Punjab Cabinet meets today

Chief Minister Punjab Sardar Usman Buzdar has called Punjab cabinet meeting at Darbar Hall of Civil Secretariat on Tuesday (today). The Cabinet meeting would ponder over 17-point agenda. Members of the provincial cabinet, advisors, special assistants, chi

Published 24 Dec, 2019 12:00am

Reduction in urea prices: another meeting remains inconclusive

Another meeting on reduction in urea prices presided over by Prime Minister's Adviser on Commerce, Industries and Production and Investment, Abdul Razak Dawood remained inconclusive, well-informed sources told Business Recorder.

Published 24 Dec, 2019 12:00am

Sonoura calls on COAS

Kentaro Sonoura, Special Adviser on Foreign Affairs to Prime Minister Shinzo Abe of Japan, called on General Qamar Javed Bajwa, Chief of the Army Staff, on Monday. According to Inter-Services Public Relations (ISPR), matters of mutual interest including o

Published 24 Dec, 2019 12:00am

New DG NAB KP assumes charge

The newly posted Director General (DG) National Accountability Bureau (NAB) Khyber Pakhtunkhwa Brig Farooq Naser Awan SI (M) (R) on Monday assumed charge of his duty. On his first day in office, he reviewed the performance of the bureau and showed his con

Published 24 Dec, 2019 12:00am

Suspension of Sharjeel's arrest warrants: SC rejects NAB's appeal against SHC decision

The Supreme Court Monday rejected the National Accountability Bureau's appeal against Sindh High Court decision to suspend its warrants of arrest for Pakistan Peoples Party (PPP) leader Sharjeel Memon.

Published 24 Dec, 2019 12:00am

Legislation in relation to three bills: law ministry fails to submit report to NA body

The Ministry of Law and Justice on Monday failed to submit with the National Assembly's Standing Committee on Science and Technology its report regarding legislation on three private member bills moved by Syed Fakhar Imam from the ruling Pakistan Tehreek-

Published 24 Dec, 2019 12:00am

Hearing of cases against Shahbaz adjourned till January 7

Another accountability court on Monday adjourned to January 7 next the hearing of Ramazan Sugar Mills case against PML-N President Shahbaz Sharif and his son Hamza Shahbaz, the leader of opposition in Punjab Assembly.

Published 24 Dec, 2019 12:00am

Marriyum describes Ahsan's arrest as 'masterpiece of NAB-Niazi nexus'

Pakistan Muslim League-Nawaz (PML-N) on Monday lashed out at "NAB-Niazi nexus" following National Accountability Bureau (NAB) arrested party's secretary general and former Interior minister Ahsan Iqbal in Narowal Sports City (NSC) case.

Published 24 Dec, 2019 12:00am

Business community opposes government's proposed gas tariff hike move

Business community, general public and small business owners have strongly condemned the government move to increase gas tariff from January 2020 for industries, residential consumers and tandoors.

Published 24 Dec, 2019 12:00am

Growers advised to properly use pesticides

The Met Office on Monday asked the farmers to use pesticides in a bid to avoid pest attacks on standing crops in line with the agriculture department's guidelines.

Published 24 Dec, 2019 12:00am

Sindh government urged to establish agro-based industry & grain markets

The Chairman Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry has demanded Sindh Government to establish agro-based industry and grain markets in order to utilize available stuff in right direction not only for promotion of agricult

Published 24 Dec, 2019 12:00am

Two key road projects of Karachi still await release of funds

Two key road infrastructure projects in Karachi are still awaiting the release of funds from the federal government despite the passage of more than five months in current financial year.

Published 24 Dec, 2019 12:00am

Money & Banking

SBP accords approval to 'NIFT ePay'

The State Bank of Pakistan (SBP) has granted an approval for commencement of pilot operations of National Institutional Facilitation Technologies' (NIFT) e-Commerce payment gateway called 'NIFT ePay'.

Published 24 Dec, 2019 12:00am

SESSI 'help desk' established

With the efforts of the Site Association of Industry (SAI), Sindh Employees Social Security Institution (SESSI) has set up a help desk for registration process of industrial workers for Online Payment of SESSI Contribution from Monday.

Published 24 Dec, 2019 12:00am

FPCCI elections: UBG, BMP gear up campaigns

Two groups namely United Business Group (UBG) and Businessmen Panel (BMP) have geared their campaign up as the date for annual election of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) nearing which is scheduled to be held on December

Published 24 Dec, 2019 12:00am

MPs seek in-depth briefing on objections raised by FATF

Parliamentarians Monday asked the Ministry of Interior to brief them about the nature of objections raised by Financial Action Task Force (FATAF) for putting Pakistan on the grey list.

Published 24 Dec, 2019 12:00am

KP PA condemns India's brutalities

Khyber Pakhtunkhwa Assembly on Monday unanimously condemned the brutalities by Indian security forces against Muslims in India and demanded of the federal government to tackle the issue through diplomatic channels.

Published 24 Dec, 2019 12:00am

MoR directed to retrieve its land in Lahore

A National Assembly's panel on Monday directed the Ministry of Railways to retrieve its precious land of 175 acres from encroachers in Lahore.

Published 24 Dec, 2019 12:00am

KP government prepares tourism development plan: CM

KP Chief Minister Mahmood Khan has said that the provincial government has prepared a comprehensive plan to promote tourism in the province which will not only improve the economy of the province but will also provide better employment opportunities to th

Published 24 Dec, 2019 12:00am

Accountability, transparency requirements for genuinely functioning democracy

Accountability and transparency are keys to a functioning democracy and it is very important to raise voice of citizens for transparent and accountable governance.

Published 24 Dec, 2019 12:00am

FPCCI polls: Two more chambers extend support to BMP panel

Two more chambers of commerce and industries extended support to Businessmen Panel (BMP) candidates in the upcoming annual elections of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) scheduled on 27th.

Published 24 Dec, 2019 12:00am

'Allama Iqbal Industrial City' to be opened under CPEC on January 3

The Pakistan Tehreek-e-Insaf (PTI) government would open the 4,000-acre Allama Iqbal Industrial City, Faisalabad, under the China-Pakistan Economic Corridor (CPEC) on January 3, 2020.

Published 24 Dec, 2019 12:00am

PMEX signs with Cloudasset to digitize payments

Pakistan Mercantile Exchange (PMEX), country's first and only multi-commodity futures exchange, signed an agreement with Cloudasset on December 16, 2019. Under this agreement, Cloudasset will provide digital transaction service platform to PMEX.

Published 24 Dec, 2019 12:00am

Pak-Qatar Takaful Group celebrates Qatar National Day

The Embassy of the State of Qatar held a reception hosted by Saqr bin Mubarak Al-Mansouri, Ambassador of Qatar to Pakistan on the occasion of Qatar National Day. Zahid Awan, CEO Pak-Qatar General Takaful attended the event and gave felicitations personall

Published 24 Dec, 2019 12:00am

Awareness seminar on 'Clean & Green Champion Program' held

The District Administration has launched "Clean & Green Champion Program" to achieve the best results of Clean & Green Pakistan Index under the vision of Prime Minister. In this connection an awareness seminar was held here at Nusrat Fateh Ali Khan Audito

Published 24 Dec, 2019 12:00am

Punjab PA speaker dissatisfied with anti-dengue drive

Punjab Assembly Speaker Pervez Elahi on Monday showed his reservations on anti-dengue drive run by the PTI-led coalition government in the province.

Published 24 Dec, 2019 12:00am

UVAS, LDCMMC sign MoU

The University of Veterinary and Animal Sciences Lahore (UVAS) and Lahore Division Cattle Market Management Company (LDCMMC) signed a memorandum of understanding for improving bilateral association through research, capacity building trainings, planning &

Published 24 Dec, 2019 12:00am

Chohan criticises PML-N, PPP leaders

Information Minister Punjab Fayyaz-ul-Hassan Chohan said that PML-N politics begins with the TTs and ends in fruitless squealing once their TTs obtained from laundered money are caught.

Published 24 Dec, 2019 12:00am

Women to be encouraged to start their own furniture business: PFC chief

Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Monday said that PFC would fully encourage women furniture designers and producers to initiate and promote their own furniture business in local and international markets.

Published 24 Dec, 2019 12:00am

Christmas, Quaid-e-Azam Day celebrations: stringent security put in place

Punjab police in coordination with law enforcement agencies have put in place a stringent security plan for the safety of the Christian community and other people across Punjab ahead of Christmas and Quaid-e-Azam Day celebrations.

Published 24 Dec, 2019 12:00am

CAA exposes real face of 'secular' India: Buzdar

Chief Minister Punjab Sardar Usman Buzdar Monday said the whole of India is agitating against the most controversial Citizenship (Amendment) Act, 2019 adding that Indians have completely rejected this worst law. "This law has exposed the black face of so-

Published 24 Dec, 2019 12:00am

'Non-functional filtration plants to be made operational'

Punjab Aab-e-Pak Authority (PAPA) has decided to make operational all non-functional filtration plants across the province of Punjab including Lahore. In this regard, special teams will be constituted for making functional of such filtration plants while

Published 24 Dec, 2019 12:00am

Articles

Partly Facetious: A tale of two CMs

"Murad Ali Shah is a puppet of Bilawal Bhutto Zardari."

Updated 24 Dec, 2019 05:27am

PPP's planned rally in Rawalpindi

The government has refused permission to hold a public rally at Liaquat Bagh Rawalpindi on the martyrdom anniversary of Shaheed Mohtarma Benazir Bhutto. Senator Mustafa Nawaz Khokhar, the spokesman for the Pakistan People's Party Bilawal Bhutto Zardari in

Published 24 Dec, 2019 12:00am

Rs 6 billion grant for USC approved by cabinet

The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal of Ministry of Industries & Production for utilization of Rs 6 billion for subsidy and procurement of essential commodities for the Utility Stores Corporation (USC) of Pakist

Published 24 Dec, 2019 12:00am

Combined income groups: weekly SPI inflation edges down by 0.03 percent

The Sensitive Price Index (SPI) based inflation for combined income groups during the week ended December 19, 2019 witnessed a slight reduction of 0.03 percent against December 12, 2019 as it came down from 130.06 points to 130.02 points, said the data re

Published 24 Dec, 2019 12:00am

Money & Banking

12-month financing needs will amount to $27.5 billion: IMF

The current projections suggest that with the policies outlined in the memorandum, the financing needs for the next 12 months (the program period) will amount to $27.5 billion. This has been stated in the "First Review under the Extended Arrangement under

Published 24 Dec, 2019 12:00am

Pakistan hails Afghan presidential election results

Pakistan on Monday welcomed the announcement of preliminary results of Afghan presidential elections in which Ashraf Ghani is set to lead for another term. "We note that the final results would be announced after completion of adjudication process within

Published 24 Dec, 2019 12:00am

AQ Khan moves SC

Nuclear scientist Dr Abdul Qadeer Khan on Monday approached the apex court against the order of the Lahore High Court. He filed his petition through Zubair Afzal Rana under Article 185(3) and made the federation through secretary interior and Strategic Pl

Published 24 Dec, 2019 12:00am

COAS visits LoC

Chief of the Army Staff (COAS) General Qamar Bajwa Monday visited the Line of Control (LOC), according to Inter-Services Public Relations (ISPR). According to a tweet by DG ISPR Maj Gen Asif Ghafoor, the Army Chief visited the LoC, where he also spoke to

Published 24 Dec, 2019 12:00am

Money & Banking

Government's commitment to IMF: Q2 FY20 tariffs to be adjusted by end-January 20

The government has committed to the International Monetary Fund (IMF) that it will adjust second quarter fiscal year 2020 tariffs for capacity payments by end-January 2020 and will issue key near-term measures for power sector quarterly notification of ta

Published 24 Dec, 2019 12:00am

Energy

PD says will investigate KE tariff

Power Division on Monday announced that it would investigate how Karachi Electric (KE) was able to sell "cheaper" electricity, by Rs 6.31 per unit, to its industrial consumers as compared to industrial consumers in other parts of the country.

Published 24 Dec, 2019 12:00am

PPP waging struggle to restore 'real' democracy: Nafisa

Secretary General Pakistan Peoples Party (PPP) Dr Nafisa Shah has said that her party is struggling to restore real democracy in the country.

Published 24 Dec, 2019 12:00am

Telecommunication

Mobile phones: Telecom companies, FBR, MoIT to submit viewpoints today

Presidents/chief executive officers (CEOs) of the telecom companies, Federal Board of Revenue (FBR) and Ministry of Information Technology would submit their viewpoints on taxation of mobile phones and allowing duty free import of mobile phones today at a

Published 24 Dec, 2019 12:00am

Brief Recordings

Karam Ceramics Limited

Karam Ceramics Limited (PSX: KCL) was established in 1979 as a public limited company. It provides tiles of various sizes for indoor and outdoor as well as bathroom flooring. Some of the company's well-known clientele include Dolmen Mall, Kidney Center, S

Updated 24 Dec, 2019 11:46am

China slams Pompeo criticism of Syria aid veto

China Monday hit back at the US for criticising its blocking of a UN Security Council resolution over civilian aid, accusing Washington of "politicising humanitarian issues."

Published 24 Dec, 2019 12:00am

Don't push 'on' button of irreversible change: top climate scientist

Johan Rockstrom, Director of the Potsdam Institute for Climate Impact Research (PIK), is a Big Picture scientist who strives to see how all the pieces of our planet's complex climate system fit together. In 2009 he co-authored the "planetary boundaries" c

Published 24 Dec, 2019 12:00am

Japan's Abe urges Hong Kong freedoms in Xi meeting

Hong Kong should "continue to be free and open", Japanese Prime Minister Shinzo Abe told the Chinese president on Monday, as the city is rocked by months of pro-democracy protests.

Published 24 Dec, 2019 12:00am

Taliban claim attack that killed US soldier

The Taliban claimed responsibility for an attack Monday on American troops that killed one US soldier and, according to the insurgents, wounded several more.

Published 24 Dec, 2019 12:00am

Israeli strike on Syria killed three regime loyalists

A war monitor said Monday that air raids in Syria the previous night, blamed on Israel, killed at least three foreign pro-regime fighters south of the war-torn country's capital. The Britain-based Syrian Observatory for Human Rights said Sunday night's at

Published 24 Dec, 2019 12:00am

Russia tests 'sovereign' internet amid fears of online isolation

Russia carried out tests Monday to ensure the "security" of its internet infrastructure in case of a foreign cyberattack as part of measures that rights activists worry could also tighten censorship and lead to online isolation.

Published 24 Dec, 2019 12:00am

Iran's Arak reactor secondary circuit goes online

A secondary circuit for Iran's Arak heavy water reactor has become operational as part of its redesign under the 2015 nuclear deal, the country's atomic energy chief said on Monday. "Today a significant part of the reactor becomes operational," Ali Akbar

Published 24 Dec, 2019 12:00am

Syria regime forces surround Turkish army post in Idlib: monitor

Syrian government forces surrounded a Turkish observation post in the northwest province of Idlib on Monday after overrunning nearby areas, a war monitor said. "Regime forces have surrounded the Turkish observation post in Al-Surman after capturing severa

Published 24 Dec, 2019 12:00am

Beijing attacks US for 'weaponisation' of outer space

Beijing warned Monday that the US was turning the cosmos into a "battlefield", after Washington announced a new military arm called the Space Force. Following concerns that China and Russia are challenging its position in space, US President Donald Trump

Published 24 Dec, 2019 12:00am

Money & Banking

CEE mixed as markets enter Christmas lull

Central European currencies were mixed on Friday in thin trade as investors began to wind down for the Christmas period.

Published 24 Dec, 2019 12:00am

Money & Banking

Emerging Markets assets flat ahead of holidays; Turkey's lira extends gains

Most assets in the developing world were little changed on Monday, as trading volumes were low in a holiday-shortened week, while the Turkish lira stayed on course to rise for a second straight session.

Published 24 Dec, 2019 12:00am

Money & Banking

Most currencies weaken as solid US growth bolsters dollar

Most Asian currencies inched lower on Monday, as upbeat US economic data supported the greenback while soft Asia trade figures knocked regional sentiment at the start of a holiday week.

Updated 24 Dec, 2019 06:59am

Money & Banking

EEarly trade in New Yor: Dollar holds firm before holidays, sterling slips on Brexit worries

The dollar held near a two-week high against a basket of currencies on Monday as the North American trading session kicked off for the holiday-shortened week, while sterling fell on concerns over the British government's hard line on Brexit talks.

Published 24 Dec, 2019 12:00am

Money & Banking

Kazakh tenge seen weakening after short-lived tax rally

The Kazakh tenge is likely to weaken against the dollar this month on current account deficit concerns after a brief rally in late November when quarterly tax payments squeezed liquidity, according to a Reuters poll.

Published 24 Dec, 2019 12:00am

Money & Banking

Africa's rand firms on US-China trade deal optimism

The South African rand firmed on Monday as its attractive yield and optimism over a trade deal between China and United States boosted demand ahead of the Christmas holiday.

Published 24 Dec, 2019 12:00am

Money & Banking

Sterling falls to three-week low against dollar

Sterling fell to a three-week low against the dollar on Monday, pulled down in holiday-thinned trade by nagging concern over the British government's hard line on Brexit talks.

Published 24 Dec, 2019 12:00am

Money & Banking

China money market set to face late-January cash crunch

Late December usually brings worries of a liquidity crunch in China's money market as financial institutions' demand for cash peaks before the year's end. But this December, investors are worried the bigger scare could come early in the new year.

Updated 24 Dec, 2019 06:59am

Money & Banking

Latam units flat against firmer dollar; Brazil's real outshines

Latin American currencies traded in a tight range on Monday, as the dollar firmed after solid US economic data, while Brazil's real was on course to rise after two straight sessions of declines.

Updated 24 Dec, 2019 06:59am

Money & Banking

Greece to extradite Russian bitcoin suspect to France

Greece's justice ministry has decided to extradite to France Russian Alexander Vinnik, who allegedly headed the bitcoin exchange BTC-e, on suspicion of money laundering, a ministry source said Friday.

Published 24 Dec, 2019 12:00am

Money & Banking

Cryptocurrency exchange: Investors demand founder's body be exhumed

Investors in a cryptocurrency exchange who lost access to tens of millions of dollars when the website's Canadian founder died abruptly, are demanding his body be exhumed to rule out any chance that he faked his own death.

Published 24 Dec, 2019 12:00am

Football

Rudiger racism row takes new twist amid reports of Son abuse

The latest racism row engulfing English football took a fresh turn Monday amid reports Tottenham Hotspur's Son Heung-min as well as Chelsea's Antonio Rudiger had been abused by spectators during Sunday's fractious London derby.

Published 24 Dec, 2019 12:00am

Cricket

Kohli declares 2019 'great year' for India after West Indies win

Virat Kohli declared it "a great year" for India cricket after ending 2019 on a high with a series-clinching win over the West Indies. The India captain's masterful 85 set up a successful 316-run chase on Sunday to win the third one-day international by f

Published 24 Dec, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

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

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

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

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