News Archives for Print - 2019-12-28

Print - 2019-12-28

Law aimed at blunting the painful edge of NAB on its way

The government is all set to promulgate amended National Accountability Bureau (NAB) Ordinance, 2019 with a view to insulating bureaucracy and businessmen from the fear of NAB investigation.

Published 28 Dec, 2019 12:00am

Economic challenges: PM says won't stop criticizing previous governments

Highlighting the importance of traders and investors in turning Pakistan into an economically strong and welfare state as envisioned by the country's founding fathers, Prime Minister Imran Khan Friday said the government would extend all possible faciliti

Published 28 Dec, 2019 12:00am

Stocks

PSX hit by profit-taking: BRIndex100 edges down

Pakistan Stock Exchange (PSX) Friday closed lower, weighed mainly by profit-taking.

Published 28 Dec, 2019 12:00am

12 killed as plane crashes in Kazakhstan but many survive

Twelve people died when a plane carrying 100 passengers and crew crashed shortly after takeoff in Kazakhstan on Friday and collided with a house, but many onboard survived without serious injury.

Published 28 Dec, 2019 12:00am

China fines Toyota 87.6 million yuan over Lexus price-fixing

China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps

Published 28 Dec, 2019 12:00am

Mid-year budgetary review: Ministries, Divisions told to submit revenue/expenditure data

The Finance Division has sought revenue/expenditure data from all ministries/divisions for the mid-year budgetary review report to be submitted to National Assembly by end February 2019.

Published 28 Dec, 2019 12:00am

Ehsaas Kifalat stipend increased to Rs 5,500

Special Assistant to Prime Minister (SAPM) on Poverty Alleviation and Social Protection and Chairperson Benazir Income Support Programme (BISP) Dr. Sania Nishtar Thursday announced that the government has increased the quarterly cash grant for 4.3 million

Published 28 Dec, 2019 12:00am

Benazir's death anniversary: PPP puts up impressive show at Liaqat Bagh

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Friday declared the 2020 as the year of 'Awami Raj' [people's rule] and a year of free, fair and transparent elections.

Published 28 Dec, 2019 12:00am

China calls for restraint over clash in Kashmir region

China called on India and Pakistan to maintain restraint and avoid taking actions that could escalate tensions, a foreign ministry spokesperson said on Friday. Spokesperson Geng Shuang made the remarks when asked to comment on media reports that a clash b

Published 28 Dec, 2019 12:00am

Army chief's extension: SC admits government petition for regular hearing

The Supreme Court of Pakistan on Friday approved the review petition, filed against the apex court verdict in the army chief extension case, for hearing next week. The sources privy to the development told Business Recorder that the government's pe

Published 28 Dec, 2019 12:00am

Bank holiday

The State Bank of Pakistan (SBP) will remain closed for public dealing on Wednesday, January 1, 2020, which will be observed as 'Bank Holiday'. All banks / DFIs / MFBs shall, therefore, remain closed for public dealing on the above date. However, all empl

Published 28 Dec, 2019 12:00am

Hundreds join final Gaza-Israel border protests for three months

Hundreds of Palestinians took part in protests along the Gaza-Israel border Friday, the last of the Hamas-backed demonstrations until March. Amid heavy rain and wind, the rallies had the lowest turnout in months, with tensions far lower than in previous w

Published 28 Dec, 2019 12:00am

Quake strikes near Iran nuclear power plant

An earthquake struck Iran on Friday less than 50 kilometres (30 miles) from the country's only nuclear power plant, monitors said. There were no immediate reports of any casualties or damage. The US Geological Survey said the 5.1 magnitude quake struck 44

Published 28 Dec, 2019 12:00am

Public Offering Regulations, 2017: SECP unveils certain amendments

The Securities and Exchange Commission of Pakistan (SECP) has issued certain amendments to the Public Offering Regulations, 2017 to promote capital formation by facilitating issuers, reducing the cost of an IPO and safeguarding the interest of general pub

Published 28 Dec, 2019 12:00am

Winter vacations: Musharraf's application returned

The Lahore High Court registrar's office on Friday returned an application of former president Gen Pervez Musharraf (retd) against his conviction in the high treason case as the relevant full bench was not available during winter vacations.

Published 28 Dec, 2019 12:00am

Competition law's provisions to have overriding effect on TM Ordinance: CCP bench

A three-member bench of the Competition Commission of Pakistan (CCP) has declared that provisions of the Competition Act 2010 shall have an overriding effect on the Trademark (TM) Ordinance.

Published 28 Dec, 2019 12:00am

Fertilizer industry: Gas price parity with international rates under study

The government is working on a new proposal aimed at bringing gas prices for fertilizer industry at par with international gas prices and paying subsidy directly to farmers, sources close to the Prime Minister Advisor on Commerce, Industries and Productio

Published 28 Dec, 2019 12:00am

BMP's Anjum Nisar elected FPCCI president

After six years, the candidate of Businessmen Panel (BMP), Anjum Nisar won the seat of President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the year 2020.

Published 28 Dec, 2019 12:00am

Letters

Pak-Saudi relationship

That Saudi Arabia is a country that helps at a difficult time is a fact. According to media reports, Saudi foreign minister Faisal bin Farhan Al-Saud has conveyed the 'firm' commitment of Saudi leadership to further deepening of "fraternal ties and multi-

Updated 28 Dec, 2019 05:15am

Articles

Fury grows after protest deaths in Indian Muslim neighbourhood

Zaheer Ahmed had just returned home from work in northern India last Friday afternoon and stepped out for a smoke before lunch. Minutes later, he was dead, shot in the head. His death, and the killing by gunfire of four other Muslim men the same afternoon

Published 28 Dec, 2019 12:00am

Articles

Nissan orders big spending cuts

Japan's Nissan Motor Co has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits, three company sources with knowledge of the matter told Reuters.

Published 28 Dec, 2019 12:00am

Articles

Don't grow?

If there is one global ranking that Pakistan will surely top hands down, than it is the one for most potatoes in a year; due credit to an anonymous chap on Tweeter, and to understand what the ranking is all about, translate potato into Urdu.

Updated 28 Dec, 2019 05:12am

Articles

Ex post facto accountability

In times, when a major feud between two contestants was settled through a sword fight, if one of them fell down in the fight with the sword dislodged, the opponent would patiently wait for the fallen one to pick up the sword ready to fight back. This is c

Updated 28 Dec, 2019 05:08am

'A season of bail'?

Minister of State for Narcotics Control, Shehryar Afridi, obviously had not done his homework when he claimed to have purported video evidence of PML-N leader Rana Sanaullah getting caught red-handed on July 1 by ANF personnel carrying 15 kg of heroine in

Updated 30 Dec, 2019 06:42am

Streamlining BISP database

Benazir Income Support Programme (BISP) was lauded within the country and among international financial institutions for sustenance of the very poor who were, otherwise, unable to meet their basic requirements and keep their bodies and souls together. How

Updated 30 Dec, 2019 06:42am

First batch of dual seat JF-17 aircraft rolls out at PAC Kamra

Pakistan Aeronautical Complex, Kamra achieved yet another remarkable milestone when first batch of 08 dual seat JF-17 aircraft rolled out from Pakistan Aeronautical Complex (PAC) Kamra on Friday. To mark this momentous occasion, a grand ceremony was held

Published 28 Dec, 2019 12:00am

NIH notifies 81 polio cases in KP

The National Institute of Health Khyber Pakhtunkhwa on Friday notified two more polio cases from Tank and Bannu Districts taking the total case count to 81 in Khyber Pakhtunkhwa in 2019. According to the details, one wild polio virus has been isolated fro

Published 28 Dec, 2019 12:00am

Money & Banking

Remittances of overseas Pakistanis: Centre asked to monitor money changers' business in AJK

Azad Jammu and Kashmir (AJK) authorities have requested the federal government for placing regulatory mechanism to monitor money changers' business to encourage genuine remittances of overseas Pakistanis to the AJK. Sources told Business Recorder o

Published 28 Dec, 2019 12:00am

Usman Mukhtar named SCO's digital ambassador

Special Communications Organization (SCO), a telecom operator in Azad Jammu & Kashmir and Gilgit-Baltistan, has named actor, director and model Usman Mukhtar as its digital ambassador. Usman Mukhtar will be engaged in various media activities to endorse S

Published 28 Dec, 2019 12:00am

Pakistan offers scholarships to Afghan students

Pakistan is offering scholarships to 1,000 Afghan students as part of its Allama Iqbal Scholarship Programme. The event for the scholarship programme was attended by Pakistani envoy to Kabul Zahid Nasrullah Khan. The grant is being given by Pakistan's Hig

Published 28 Dec, 2019 12:00am

EDB, MoI&P organise trade delegation's visit to Vietnam

Engineering Development Board, Ministry of Industries & Production, organized a trade delegation's visit to Ho Chi Minh City, Vietnam, from December 18-25, 2019.

Published 28 Dec, 2019 12:00am

Young people can play pivotal role in stabilising economy: Hammad

Federal Minister for Economic Affairs Hammad Azhar on Friday said that young people can play a pivotal role in stabilizing economy by contributing to peace and stability in the country. This he stated while addressing the concluding ceremony of a function

Published 28 Dec, 2019 12:00am

Affordability main focus: PM directs Drap to devise new drug pricing policy

The federal Cabinet has directed devising a new drug pricing policy within two months, as the current prices in Pakistan are above the affordable level of general masses. This was revealed before the sub-committee of the National Assembly Standing Committ

Published 28 Dec, 2019 12:00am

Credit for Jalalpur canal project goes to PTI government: CM

Chief Minister Punjab Sardar Usman Buzdar has said that credit goes to the PTI government for launching the Rs32.70 billion Jalalpur Canal project. "The fate of the people will be changed with the completion of this project which would also ensure progres

Published 28 Dec, 2019 12:00am

Money & Banking

OLX, Bank Alfalah ink MoU

OLX, Pakistan's leading online market portal, has announced a strategic partnership with Bank Alfalah with the aim to promote financing with the integration of a financing widget on OLX. In this connection, a memorandum of understanding (MoU) was signed b

Published 28 Dec, 2019 12:00am

Uplift projects: PM seeks private sector's help

Prime Minster Imran Khan Friday sought private sector help for expediting public sector development projects across the country.

Published 28 Dec, 2019 12:00am

Three illegal gateway exchanges busted

In its continuous efforts to curtail grey telephone trafficking, Pakistan Telecommunication Authority (PTA) carried out a successful raid in coordination with Federal Investigation Agency (FIA) in Mansehra, said a press release issued here on Friday. The

Published 28 Dec, 2019 12:00am

Taxes

Collection of government receipts/taxes: NBP branches to remain open till 9pm on December 31

In order to facilitate the collection of government receipts/duties/ taxes, it has been decided that authorized branches of National Bank of Pakistan (NBP) as well as field offices of SBP Banking Services Corporation (SBP-BSC) will observe extended bankin

Published 28 Dec, 2019 12:00am

Gold prices up by Rs 350 per tola

Gold was sold on Friday for Rs 88150 per tola with Rs 350 up on the local market, traders said. The yellow metal also posted an increase of Rs 300 per 10 grams to Rs 75574 while its international value was cited as $ 1510 an ounce with $ 10 up. Silver was

Published 28 Dec, 2019 12:00am

PN conducts live weapon firing in North Arabian Sea

In an impressive display of firepower, Pakistan Navy demonstrated its combat readiness through live firing of missiles from surface, subsurface and air platforms in North Arabian Sea. Moreover, Short Range Air Defense System firing was also demonstrated.

Published 28 Dec, 2019 12:00am

ICMAP, NBFIs & MAP sign MoU

The Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) and the NBFIs & Mobaraba Association of Pakistan have joined hands to collaborate and promote industry-academia linkages.

Published 28 Dec, 2019 12:00am

Minister reviews cane crushing season's arrangements

Punjab Minister for Food Samiullah Chaudhry has directed the Deputy Commissioners (DCs) and Deputy Directors (Food) of every district to visit sugar mills in their respective areas and ensure necessary meeting of the crushing of cane.

Published 28 Dec, 2019 12:00am

Thar Foundation organises science festival

Continuing the mission to make quality education accessible for all, the Thar Foundation in collaboration with Pakistan Space Science Education Centre organised a science festival in New Senhri Dars, Jeewan Das campus, some 70 kilometres away from Mithi.

Published 28 Dec, 2019 12:00am

Gas shortage compels industries to suspend 80-90 percent production: NKATI

President North Karachi Association of Trade and Industry (NKATI) Naseem Akhtar, Patron in chief Captain A Moiz Khan and SVP, Imran Moiz Khan have claimed that 80 to 90 percent industrial productivity suspended due to non availability of gas and low gas p

Published 28 Dec, 2019 12:00am

DG Transit Trade visits LCCI

Director General of Transit Trade Dr Sarfraz Ahmad on Friday visited the Lahore Chamber of Commerce and Industry (LCCI) and briefed the members about the Directorate's function. Dr Sarfraz Ahmad said that since the inter-provincial trade belongs to the fe

Published 28 Dec, 2019 12:00am

PML-Q unveils environmental policy

The Pakistan Muslim League-Quaid (PML-Q) here on Friday unveiled its environmental policy titled 'Clean, Transparent and Green Punjab' to meet environmental challenges facing Pakistan and Punjab.

Published 28 Dec, 2019 12:00am

European Parliament's VP supports extension in GSP Plus status

European Parliament's Vice-President Fabio Massimo Castaldo, who is currently visiting Pakistan, has assured full support in the matter of extension in GSP-Plus status to Islamabad.

Published 28 Dec, 2019 12:00am

Judge video scandal case: PML-N leader Tarar appears before FIA

Deputy Secretary General Pakistan Muslim League-Nawaz (PML-N) Ataullah Tarar on Friday appeared before the Federal Investigation Agency (FIA) team here at its regional office in a probe involving accountability court judge Arshad Malik video scandal.

Published 28 Dec, 2019 12:00am

Recruitments in PPSC made on merit: Basharat

Punjab law minister Raja Basharat said on Friday that all the recruitments in public service commission were made on merit. It is the only institute where people were get jobs on merit. He expressed these views while opening the discussion on the annual r

Published 28 Dec, 2019 12:00am

Mercury may drop to 2 degree Celsius in Lahore next week

Met Office has predicted that the mercury may drop to 2 degree Celsius next week, saying that the foggy weather would continue for next two weeks. It may be noted that the fog and chilled weather has already gripped the city and cold weather has been inte

Published 28 Dec, 2019 12:00am

PCJCCI chief for adopting eco-farming model of China

Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) President Zarak Khan has urged the government to adopt Eco-farming model of China for increasing agricultural yields to avert the growing food crisis.

Published 28 Dec, 2019 12:00am

Cotton & Textile

PTEA hails significant drop in trade deficit

Pakistan Textile Exporters Association has appreciated 33 percent significant drop in trade deficit, however urged for measures to steam up industrialization and boost exports as growth in exports has remained tepid during July-November period.

Published 28 Dec, 2019 12:00am

Equal distribution of resources: ANP asks KP government to respect agreement with opposition

ANP Khyber Pakhtunkhwa general secretary and deputy opposition leader in KP Assembly, Sardar Hussain Babak has asked the provincial government to respect the agreement reached with the opposition regarding equal distribution of the resources of the provin

Published 28 Dec, 2019 12:00am

Energy

Year 2019 turns out to be historic for hydropower, water sectors

The year 2019 turned out to be a historic one for development of water and hydropower resources in Pakistan, as record generation of hydel electricity was supplied to the National Grid during the year, besides initiating construction work on Mohmand Dam i

Published 28 Dec, 2019 12:00am

Articles

De-politicising interest rates - I

The latest meeting of SBP policy rate committee, also known as Monetary Policy Committee (MPC) in November once again decided to hold the policy rate at 13.25%, inspite of political and non-political (gurus, media and trade lobbies) pressure on SBP to low

Published 28 Dec, 2019 12:00am

Shahbaz pays tribute to Benazir

President of Pakistan Muslim League-Nawaz (PML-N) Shehbaz Sharif on Friday paid tribute to former prime minister and PPP chairperson Benazir Bhutto on her death anniversary. "Remembering Mohtrama Benazir Bhutto on her death anniversary. She was an icon, a

Published 28 Dec, 2019 12:00am

Panel for probing HOTA's unauthorised expenses

A parliamentary panel Friday directed the Ministry of National Health Services, Regulation and Coordination to conduct an inquiry into the unauthorized expenditures worth Rs 59 million by Human Organ Transplant Authority (HOTA) and share the details with

Published 28 Dec, 2019 12:00am

Energy

Gas crisis assumes alarming proportions

A crisis-like situation in the gas sector re-emerged in various parts of the country as a large number of factories in Sindh and Punjab are forced to suspend production while domestic consumers complained of facing difficulty in cooking food or heating wa

Published 28 Dec, 2019 12:00am

Cleanliness of city starts after a gap of nearly 10 days: CDA

Removal of garbage dumps and cleanliness of the city has been started after a break of nearly 10 days, as the sanitary workers were staging protests in favor of their demands. Pace of working of sanitation staff is gradually picking up and backlog is bein

Published 28 Dec, 2019 12:00am

India deliberately heightening tension: Qureshi

Foreign Minister Shah Mahmood Qureshi has said that India is deliberately heightening tension on the Line of Control (LoC) to divert attention from the internal chaos in India created by Modi government.

Published 28 Dec, 2019 12:00am

Cotton & Textile

Proposed exemption of cotton seedcake: Finance Division will submit comments to ECC

Finance Division will submit its comments including revenue impact of the proposed exemption of cotton seedcake from 5 percent sales tax to the Economic Coordination Committee (ECC) of the Cabinet.

Published 28 Dec, 2019 12:00am

'Impeachment' of judges: Senate body seeks briefing from law ministry

In a significant move, the Senate Special Committee on Law Reforms has sought a detailed briefing from the Ministry of Law and Justice on parliamentary legislation to introduce a constitutional amendment for the impeachment of judges of the superior judic

Published 28 Dec, 2019 12:00am

CLICK project: SSWMB to be transformed into fully functional body

Sindh Solid Waste Management Board (SSWMB) will be transformed into a fully functional body under Competitive and Livable City of Karachi (CLICK) project. Apart from the other aspects, CLICK project also focuses SWMBB. CLICK project is being carried out b

Published 28 Dec, 2019 12:00am

Articles

Partly Facetious: Unlearning knowledge

"I used to wonder how one can unlearn knowledge of some discipline one has painstakingly acquired."

Updated 28 Dec, 2019 08:18am

More than 235,000 flee intense bombing in NW Syria

Civilians on Friday packed a road leading out of northwest Syria, where two weeks of heightened regime and Russian bombardment has displaced 235,000 people. Pick-up trucks carrying mattresses, clothes and house-hold appliances ferried entire families out

Published 28 Dec, 2019 12:00am

India ejects second European 'for protesting'

A Norwegian tourist on Friday said authorities had ordered her to leave India after taking part in protests against a new citizenship law, becoming the second European to be ejected over the demonstrations. Janne-Mette Johansson, 71, told AFP that police

Published 28 Dec, 2019 12:00am

France summons Iran ambassador over 'intolerable' detention of academics

France's foreign ministry on Friday said it had summoned the Iranian ambassador over the "intolerable" detention of two French academics, expressing "grave concern" that one was now on hunger strike. The envoy "was reminded of France's demand that Fariba

Published 28 Dec, 2019 12:00am

IS claims execution of 11 Christians in Nigeria

Jihadists aligned to the Islamic State group have released a video claiming to show the execution of 11 Christians in restive northeast Nigeria. The footage posted online late Thursday by IS-linked propaganda arm Amaq showed 11 blindfolded men being shot

Published 28 Dec, 2019 12:00am

FBI investigates Briton, others for Epstein links

The FBI is investigating British socialite Ghislaine Maxwell and several other people linked to US financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges, according to two law enforcement sources familiar with the in

Published 28 Dec, 2019 12:00am

Russia says first hypersonic missiles enter service

Russia's defence minister told President Vladimir Putin on Friday the first Avangard hypersonic missiles had been put into service, in a move hailed as a major coup for Moscow. Analysts say Russia is the first country to put into combat service interconti

Published 28 Dec, 2019 12:00am

Uruguay seizes record amount of cocaine

Uruguayan authorities have opened an investigation into a record cocaine seizure described as "the biggest blow to drug-trafficking in the country's history," the navy said on Friday. The navy seized four soy-flour containers packed with bags of cocaine a

Published 28 Dec, 2019 12:00am

Iran, China, Russia start joint naval drills

Iran, China and Russia started four days of joint naval drills in the Indian Ocean and the Gulf of Oman on Friday, the commander of Iran's flotilla announced. The exercise comes at a time of heightened tensions since the United States withdrew from a land

Published 28 Dec, 2019 12:00am

Money & Banking

South Africa's rand powers to new five-month high

South Africa's rand rose to a new five-month high on Friday as investors globally looked to take on risk, targeting emerging markets for their higher yields. At 1515 GMT, the rand was 0.69% firmer at 14.0440 per dollar, pulling back slightly after breachi

Published 28 Dec, 2019 12:00am

Money & Banking

Euro rises as speculators unwind short positions, dragging sterling higher

The euro strengthened on Friday, pushing the dollar lower and the pound higher, as speculators unwound their short positions before the end of the year, with thin liquidity during the holiday season amplifying moves.

Published 28 Dec, 2019 12:00am

Money & Banking

Early trade in New York: Dollar dented as risk appetite returns at year-end

The US dollar slipped across the board on Friday as optimism about the outlook for a US-China trade deal lifted investors' appetite for risk, sapping safe-haven demand for the greenback, in light end-year trading. The dollar index, which measures the gree

Published 28 Dec, 2019 12:00am

Money & Banking

Dollar near two-week high against yen

The dollar rose to a near two-week high against the Japanese yen on Thursday as optimism around easing trade tensions between the United States and China sapped demand for safe-haven currencies, even as the holiday-thinned trading limited large moves in t

Published 28 Dec, 2019 12:00am

Money & Banking

Russian rouble strengthens again, MOEX near record high

The Russian rouble gained in light trade on Friday, heading towards its strongest levels since 2018, while the benchmark MOEX stock index was near an all-time high as oil prices rose. At 0811 GMT, the rouble was 0.4% stronger against the dollar at 61.96,

Published 28 Dec, 2019 12:00am

Money & Banking

Most units firm on US-China trade deal optimism

Most Asian currencies strengthened on Friday but moved in a tight range, as hopes of the United States and China signing an interim trade deal early next year boosted investor sentiment in holiday thinned trade. China said on Thursday that Beijing and Was

Published 28 Dec, 2019 12:00am

Money & Banking

Trade optimism supports dollar versus yen, boosts Aussie

The dollar hovered near a six-month high versus the Japanese yen while the Australian dollar climbed to its strongest since July on Friday, buoyed by easing Sino-US trade tensions. The optimism around prospects for a Phase 1 trade deal reduced demand for

Published 28 Dec, 2019 12:00am

Money & Banking

Latam currencies eyes another week of gains

The Chilean peso led rising Latin American currencies on Friday, as copper prices scaled to near eight-month highs and investors remained optimistic about a trade deal between the United States and China being signed soon.

Published 28 Dec, 2019 12:00am

Other

Russia challenges WADA doping ban

Russia on Friday formally contested a four-year ban from major sporting events over doping violations that President Vladimir Putin has condemned as "unjust," the head of its RUSADA anti-doping agency said. "In accordance with established procedure, today

Published 28 Dec, 2019 12:00am

Football

Team Eighteen clinches Ibex Cup Season III title

Team Eighteen recorded a convincing 3-0 victory against Young Stars in the summit clash of Ibex Cup Season III, which concluded at Zaraaj Football Ground in Islamabad followed by a glittering closing ceremony.

Published 28 Dec, 2019 12:00am

Other

Qualifying rounds of Saadia Khan Skiing Cup held

The qualifying rounds of Saadia Khan and Children Ski Cup culminated successfully at Naltar Ski Resort on Friday. A large number of ski enthusiasts and locals witnessed the thrilling and spectacular competitions. Prominent national skiers from all over th

Published 28 Dec, 2019 12:00am

Cricket

England fight back after relentless South African bowling display

Vernon Philander led a relentless South African bowling performance before England fought back on the second day of the first Test at Centurion's SuperSport Park on Friday. Philander took four for 16 in 14.2 overs as South Africa appeared to have taken co

Published 28 Dec, 2019 12:00am

Cricket

New Zealand lose early wickets as Australia take charge of second Test

Australia snatched two early wickets to leave New Zealand facing an uphill battle to stay in the second Test Friday as they chase the home team's 467, built on the back of a gritty 114 from Travis Head.

Published 28 Dec, 2019 12:00am

Other

Two matches decided in 'Major-General Saeed-uz-Zaman Memorial Polo Cup'

Master Paints beat Barry's by 7-5 to make way to the main final of the Maj-Gen. Saeed-uz-Zaman Memorial Polo Cup 2019 sponsored by JS Bank here at the Lahore Polo & Country Club (LP&CC) on Friday.

Published 28 Dec, 2019 12:00am

Football

Ex-South Korea coach Shin to take over struggling Indonesia

Former South Korea coach Shin Tae-yong has been tapped to take over Indonesia's struggling national team, the country's football association said on Friday. Shin, who led South Korea at last year's World Cup in Russia - where they famously ousted defendin

Published 28 Dec, 2019 12:00am

Recession, robots and rockets: another roaring 20s for world markets?

Helicopter cash, climate crises, smart cities and the space economy - investors have all those possibilities ahead as they enter the third decade of the 21st century. They go into the new decade with a spring in their step, after watching world stocks add

Published 28 Dec, 2019 12:00am

As poverty deepens, Lebanon protesters step in to help

With volunteer kitchens, makeshift clinics and donation centres, Lebanon's protesters are helping their compatriots survive the worst economic crisis since the civil war by offering services many can no longer afford. "Our goal is to create a state of soc

Published 28 Dec, 2019 12:00am

Global Business Economy

Turkey unveils first fully homemade car in $3.7 billion bet on electric

Turkey unveiled its first fully domestically-produced car on Friday, saying it aimed to eventually produce up to 175,000 a year of the electric vehicle in a project expected to cost 22 billion lira ($3.7 billion) over 13 years.

Published 28 Dec, 2019 12:00am

Global Business Economy

Portuguese airport workers strike over pay, threaten further action in 2020

Workers for Portuguese airport handling company Portway started a three-day strike at Lisbon, Porto, Faro and Funchal airports on Friday over the company's refusal to unfreeze salaries after three-years of no pay increases. Around 85% of Portway workers a

Published 28 Dec, 2019 12:00am

Energy

Nigeria inks major LNG expansion with oil majors

Nigeria signed a major gas expansion deal on Friday, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by more than 30%. The agreement marks a moment of amity with international oil majors, even

Published 28 Dec, 2019 12:00am

Global Business Economy

EU chief doubts securing post-Brexit trade deal in 2020

European Commission chief Ursula von der Leyen has expressed "serious concern" over whether the bloc could conclude a post-Brexit trade deal with Britain within the 2020 deadline. Britain is due to leave the European Union on January 31, but will remain i

Published 28 Dec, 2019 12:00am

China launches powerful rocket in boost for 2020 Mars mission

China Friday launched one of the world's most powerful rockets in a major step forward for its planned mission to Mars in 2020. The heavy lift Long March 5 rocket carrying a Shijian 20 test satellite payload blasted off from the Wenchang launch site on th

Published 28 Dec, 2019 12:00am

Commodities

Hundreds in Istanbul sign petitions against Erdogan's canal project

Hundreds of people in Istanbul have signed petitions in the past two days opposing a massive canal project championed by Turkish President Tayyip Erdogan, which they say will wreak environmental havoc in the city.

Published 28 Dec, 2019 12:00am

Commodities

Locust invasion destroys crops in northwest India

A massive locust invasion has destroyed thousands of hectares of crops in northwest India, authorities said, with some experts on Friday terming it the worst such attack in 25 years.

Published 28 Dec, 2019 12:00am

Money & Banking

More investors sue Danske Bank for alleged money laundering

About 60 investors have sued Danske Bank for 1.5 billion crowns ($224 million) over alleged money laundering, their lawyers said on Friday, the third such case to hit Denmark's biggest lender. Danske Bank said it would defend itself against the lawsuit an

Published 28 Dec, 2019 12:00am

Money & Banking

JGBs range-bound in subdued trade ahead of New Year holidays

Japanese government bond prices moved in a narrow range on Friday, with many market players retreating to the sidelines ahead of the New Year holidays. Benchmark 10-year JGB futures fell 0.09 point to 152.06, with a low trading volume of 14,289 lots.

Published 28 Dec, 2019 12:00am

Stocks

South Korean stocks gain as trade deal optimism outweighs ex-div adjustment

Round-up of South Korean financial markets: South Korean shares followed Wall Street to end higher on Friday, as losses from stocks trading ex-dividend was outweighed by a report of robust US online holiday sales and optimism over a US-China trade deal. T

Published 28 Dec, 2019 12:00am

Stocks

Early Friday's trade: Wall Street's festive rally pauses as investors await trade details

Wall Street hovered at record highs on Friday, as investors paused after a year-end rally that has been fueled by optimism over a US-China trade truce and an improving global economy. All three major US stock indexes opened at record highs as traders chee

Published 28 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

Markets →

Budget 2024-25: income tax calculator for FY25

Most Popular