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Print - 2020-01-07
Gold hits fresh peak
Commodities

Gold hits fresh peak

Gold on Monday surged to record high on the local market hitting Rs93,400 per tola with a mammoth single-day increase of Rs2,600, traders said.
Published 07 Jan, 2020 12:00am
PBC say it's against 'personality-specific' steps

PBC say it's against 'personality-specific' steps

Pakistan Bar Council (PBC) has expressed its concern on the manner in which the extension in tenures of the army, navy and air force chiefs is being given through the acts of parliament.
Published 07 Jan, 2020 12:00am
SBP fears rise in food inflation

SBP fears rise in food inflation

The State Bank of Pakistan (SBP) said on Monday that the policy mix appears adequate to address the macroeconomic imbalances and push the economy towards stability as Pakistan's economy moved progressively along the adjustment path during the first quarte
Published 07 Jan, 2020 12:00am
ECNEC approves around Rs 215 billion projects

ECNEC approves around Rs 215 billion projects

A meeting of the Executive Committee of the National Economic Council (ECNEC) has approved around Rs 215 billion projects for higher education, communication, power and social sectors.
Published 07 Jan, 2020 12:00am
Power regulation law: Proposed amendments approved by ECC

Power regulation law: Proposed amendments approved by ECC

A meeting of the Economic Coordination Committee (ECC) of the Cabinet has approved proposed amendments to the Regulation of Generation, Transmission and Distribution of Electronic Power Act, 1997 to meet the International Monetary Fund (IMF) condition for
Published 07 Jan, 2020 12:00am
Gold surges on Mideast risk but stocks pare losses
Commodities

Gold surges on Mideast risk but stocks pare losses

Gold prices shot to almost seven-year highs on Monday as a spike in US-Iranian tensions spurred demand for safe-haven assets and pushed a gauge of global equity markets lower, but shares on Wall Street rebounded on a less worrisome view of events.
Published 07 Jan, 2020 12:00am
Government urges US, Iran to ratchet down tensions

Government urges US, Iran to ratchet down tensions

In the backdrop of heightened tension between the United States and Iran, Foreign Minister Shah Mahmood Qureshi on Monday said that Pakistan would not allow its soil to be used against any other country and maintains cordial relations with all the countri
Published 07 Jan, 2020 12:00am
Weinstein charged with sex crime

Weinstein charged with sex crime

Los Angeles prosecutors indicted Harvey Weinstein on Monday on sex crime charges just hours after the former film producer appeared in a New York court for the start of his rape trial, which has become a focal point for the MeToo movement.
Published 07 Jan, 2020 12:00am
There must be no complacency towards FATF challenge: MoF

There must be no complacency towards FATF challenge: MoF

The Finance Ministry stated Monday that there would be serious implications on the country if Financial Action Task Force (FATF) action plan was not complied with, after Senate Standing Committee on Finance put off the approval of the proposed changes in
Published 07 Jan, 2020 12:00am
Rs 2 billion released for BRTS under PSDP

Rs 2 billion released for BRTS under PSDP

Federal Government released Rs 2 billion in the first six months of current financial year for Greenline Bus Rapid Transit System (BRTS), Karachi.
Published 07 Jan, 2020 12:00am
Pakistan rejects India's propaganda

Pakistan rejects India's propaganda

Pakistan on Monday rejected the Indian government's fabricated propaganda about treatment of minorities in the country, saying these fabrications will in no way shield the Modi government from opprobrium by international community on its illegal actions i
Published 07 Jan, 2020 12:00am
PM launches 'Zindagi'app to deal with drug abuse

PM launches 'Zindagi'app to deal with drug abuse

Prime Minister Imran Khan Monday said the cancerous threats of drug and child abuse could not be defeated unless collective efforts were made by all strata of the society, and stressed upon wider and effective mass awareness in this regard.
Published 07 Jan, 2020 12:00am
Trump pushing US to WWIII
Letters

Trump pushing US to WWIII

There was a sea of mourners in Iran's capital where Iran's leaders joined massive crowds for the funeral procession of Qassem Soleimani assassinated by the US. There is no doubt about the fact that the killing was the most dramatic escalation yet in spira
Published 07 Jan, 2020 12:00am
Economic outlook for 2020
Articles

Economic outlook for 2020

The single most important development in 2019 on the economic front was the entry by Pakistan into a three year Extended Facility with the IMF. The Program envisages very intensive and fast moves to achieve a big reduction in the current account deficit i
Published 07 Jan, 2020 12:00am
Growing challenge of worm infections among children

Growing challenge of worm infections among children

According to a joint survey recently conducted by the Ministry of National Health and the World Health Organization in 40 districts across the country, some 17 million children between the ages of five and 15 years are at the risk of catching soil-transmi
Updated 07 Jan, 2020 06:41am
Profound FATF challenge

Profound FATF challenge

The Federal Government and the SBP have been trying very hard to ensure that Pakistan's name is removed from the grey list of Financial Action Task Force (FATF). In order to expedite the process, the State Bank of Pakistan on the last day of 2019 issued a
Updated 07 Jan, 2020 06:41am
Jazz successfully conducts 5G trials
Telecommunication

Jazz successfully conducts 5G trials

Jazz has successfully tested out the fifth generation of mobile technology. In its effort to lead the digitalization journey in Pakistan, the 5G trials of Jazz aimed to test the improvement in performance of the network as a result of this technology. Whe
Published 07 Jan, 2020 12:00am
Condolence

Condolence

President Hameed Haroon and Sarmad Ali, Secretary General, All Pakistan Newspapers Society (APNS) on behalf of the office-bearers and members of the Society have expressed profound grief over the sad demise of Muhammad Zulqarnain Sikandar, publisher of Da
Published 07 Jan, 2020 12:00am
Met Office sounds landslide alert in Balochistan

Met Office sounds landslide alert in Balochistan

The Met Office on Monday issued weather warning following downpour with snowfall over northern Balochistan, alerting the citizens and authorities to land sliding and flash flooding in local streams. It said that scattered rains with a snowfall over the hi
Published 07 Jan, 2020 12:00am
Amendments to Army Act: PML-N team, Fazl discuss matters

Amendments to Army Act: PML-N team, Fazl discuss matters

A delegation of senior leaders of Pakistan Muslim League-Nawaz (PML-N) Monday called on Jamiat Ulema-e-Islam (JUI-F) Emir Maulana Fazlur Rehman to discuss matters related to amendment to the Army Act.
Published 07 Jan, 2020 12:00am
NA passes Mutual Legal Assistance (Criminal Matters) Bill 2019

NA passes Mutual Legal Assistance (Criminal Matters) Bill 2019

The National Assembly on Monday passed "The Mutual Legal Assistance (Criminal Matters) Bill, 2019" for providing legal support to the requesting state (foreign country) by executing necessary actions on its territory in criminal cases warranting shared as
Published 07 Jan, 2020 12:00am
UBG extends support to newly-elected FPCCI body

UBG extends support to newly-elected FPCCI body

Spokesman of United Business Group (UBG) Gulzar Firoz has said that the group in principle supports newly elected body of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and President of the Federation Anjum Nisai.
Published 07 Jan, 2020 12:00am
Warm garment's demand up

Warm garment's demand up

After the weather turned a bit chilly in city demand of new and second-hand jackets, groves, mufflers and caps used by people and motorcycle riders registered tremendous increase in last few days. Especially traders of second hand warm clothes are doing b
Published 07 Jan, 2020 12:00am
Rs 10.836 billion customs duty collected at Jinnah Airport
Taxes

Rs 10.836 billion customs duty collected at Jinnah Airport

The newly established Model Customs Collectorate at Jinnah International Airport, Karachi, has collected customs duty amounting to Rs 10.836 billion as against the target of Rs 10.254 billion, depicting over 6 percent growth during the first six months of
Published 07 Jan, 2020 12:00am
Joining GVCs to put exports on path to growth: SBP
Money & Banking

Joining GVCs to put exports on path to growth: SBP

The State Bank of Pakistan (SBP) Monday said that increasing participation in the Global Value Chains (GVCs) would not only align the country's product mix with trends in global demand, but also put the exports on a sustainable growth path.
Published 07 Jan, 2020 12:00am
C/A deficit to be 1.5-2.5pc of GDP in FY20: SBP
Money & Banking

C/A deficit to be 1.5-2.5pc of GDP in FY20: SBP

The State Bank of Pakistan (SBP) has estimated that the current account deficit (CAD) for FY20 is likely to stay within the range of 1.5-2.5 percent of GDP. According to SBP report "The State of Pakistan's Economy" for first quarter (July-Sep) of FY20, is
Published 07 Jan, 2020 12:00am
Efforts being made to promote IT exports
IT & Computers

Efforts being made to promote IT exports

On the directions of the Federal Minister for Information Technology and Telecommunication, special efforts are being taken by the Ministry of IT and Telecommunication to promote IT exports and encourage IT companies.
Published 07 Jan, 2020 12:00am
Seminar on 'POS Integration System' held

Seminar on 'POS Integration System' held

A seminar on "Point of Sales (POS) Integration of Tier-1 Retailers, jointly organized by the Lahore Chamber of Commerce & Industry and Federal Board of Revenue here on Monday.
Published 07 Jan, 2020 12:00am
Anchorperson seeks registration of FIR against Fawad Chaudhry

Anchorperson seeks registration of FIR against Fawad Chaudhry

TV anchorperson Mubasher Lucman has approached the Model Town police, seeking registration of a First Information Report (FIR) against Federal Minister for Science and Technology Fawad Chaudhry and his private guards for subjecting him to severe violence
Published 07 Jan, 2020 12:00am
Garment exporters want ST refunds in 72 hours
Taxes

Garment exporters want ST refunds in 72 hours

The Pakistan Readymade Garments Manufacturers and Exporters Association (NZ) Chairman Sohail A Sheikh has expressed his concern over the performance of the Federal Board of Revenue's newly-launched Fully Automated Sales Tax e-Refund (FASTER) System as the
Published 07 Jan, 2020 12:00am
Punjab Governor urges UNO to help defuse US-Iran tension

Punjab Governor urges UNO to help defuse US-Iran tension

Punjab Governor Chaudhry Mohammad Sarwar on Monday said that the United Nations Organization (UNO) and Muslim Ummah must apply minds to avert US-Iran war, as it will be more destructive than Iraq war. The hysteria of war must be given an end and whatever
Published 07 Jan, 2020 12:00am
CS directs officers to hold 'open courts' regularly

CS directs officers to hold 'open courts' regularly

Chief Secretary Punjab Azam Suleman Khan on Monday issued instructions to the administrative officers of Sargodha division to hold open courts regularly, so that peoples' problems could be resolved on the spot.
Published 07 Jan, 2020 12:00am
PKM welcomes government's 'agri emergency programme'

PKM welcomes government's 'agri emergency programme'

Pakistan Kissan Movement (PKM) welcomed the announcement by the government to give agricultural implements to growers under the Prime Minister's Agricultural Emergency Programme and called for benefiting genuine farmers instead of influential in the garb
Published 07 Jan, 2020 12:00am
Askari Bank signs MoU with Majestic Lounge
Money & Banking

Askari Bank signs MoU with Majestic Lounge

Askari Bank Limited (AKBL) and Majestic Lounge signed an agreement for International Lounge Facility which will allow Askari World, Corporate, Platinum and Gold Mastercard Credit Card customers access to Majestic Lounges at Jinnah International Airport, K
Published 07 Jan, 2020 12:00am
Buzdar 'highlights' government's performance

Buzdar 'highlights' government's performance

Chief Minister Punjab Sardar Usman Buzdar Monday said that Pakistan Tehreek-e-Insaf (PTI) is taking the country in right direction as its focus is on the country's progress and prosperity.
Published 07 Jan, 2020 12:00am
Civic issues: Karachi mayor criticised Sindh government

Civic issues: Karachi mayor criticised Sindh government

Mayor Karachi Wasim Akhtar on Monday said 18th Amendment in the constitution created 'a state within a state'. The Sindh government had withheld all powers and the authority of a councilor was being encroached upon by a provincial minister. Mega projects
Published 07 Jan, 2020 12:00am
NSCCP scam: Physical remand of Ahsan extended till 13th

NSCCP scam: Physical remand of Ahsan extended till 13th

The Accountability Court on Monday extended physical remand of senior leader of Pakistan Muslim League-Nawaz (PML-N) and former interior minister Ahsan Iqbal in Narowal Sport City Complex Project (NSCCP) scam till January 13.
Published 07 Jan, 2020 12:00am
Goods transporters go on strike

Goods transporters go on strike

Goods transporters on Monday went on strike for indefinite period and demanded Prime Minister Imran Khan to remove Murad Saeed as federal minister for communication.
Published 07 Jan, 2020 12:00am
'IFN Pakistan Forum 2019' held

'IFN Pakistan Forum 2019' held

RedMoney Group, a global provider of specialized Islamic Financial media services, hosted an event titled, "IFN Pakistan Forum 2019" in Karachi. Pak-Qatar Takaful proudly participated at the event.
Published 07 Jan, 2020 12:00am
KU announces admission lists

KU announces admission lists

The Director Admissions University of Karachi Dr Saima Akhtar announced the admission lists of Evening program bachelors, masters and postgraduate admissions 2020.
Published 07 Jan, 2020 12:00am
IBA CEIF holds introductory course on Islamic Finance

IBA CEIF holds introductory course on Islamic Finance

IBA CEIF successfully conducted a one-day introductory course on Islamic Finance at IBA City Campus which was attended by students of various institutions, faculty members of IBA, Ulemas as well as professionals.
Published 07 Jan, 2020 12:00am
KP Assembly opens debate on NFC Award

KP Assembly opens debate on NFC Award

The Khyber Pakhtunkhwa Assembly on Monday opened discussion on National Finance Commission (NFC) Award after adopting a joint adjournment motion moved by Opposition leader Akram Khan Durrani, MMA's Inayatullah, ANP Sardar Hussain Babak, PML-N Aurangzeb Na
Published 07 Jan, 2020 12:00am
Oil refineries urge Senate body to help avert looming FFO crisis
Energy

Oil refineries urge Senate body to help avert looming FFO crisis

Local refineries have approached the Senate Standing Committee on Petroleum in a bid to avert the furnace fuel oil (FFO) crisis looming in the country after the government as a policy decision refused to lift the FFO for power sector.
Published 07 Jan, 2020 12:00am
Tariq Glass Industries Limited
Brief Recordings

Tariq Glass Industries Limited

Tariq Glass Industries Limited (PSX: TGL) was established in 1978 and became a public limited company in 1980. It is essentially engaged in the production of tableware and float glass currently, whereas opal glass will be introduced soon. Within tableware
Updated 07 Jan, 2020 06:37am
Climate protesters mount gas rig in Scotland

Climate protesters mount gas rig in Scotland

Climate activists from protest group Extinction Rebellion on Monday climbed aboard a gas rig in the Scottish city of Dundee in a bid to stop it from being transported to the North Sea. Extinction Rebellion Scotland confirmed that three of its supporters b
Published 07 Jan, 2020 12:00am
Mass snow wedding and crystal towers at China's ice fest

Mass snow wedding and crystal towers at China's ice fest

China's annual ice festival in Harbin has kicked off with couples lining up for a snow-themed mass wedding, swimmers braving frigid waters and frozen palaces rising from the ground. Fireworks marked the festival's opening on Sunday night as tourists wande
Published 07 Jan, 2020 12:00am
Quake rattles Puerto Rico

Quake rattles Puerto Rico

A 5.8-magnitude earthquake shook Puerto Rico Monday, toppling houses and causing power outages and small landslides but there were no reports of casualties, the US Geological Survey said. The quake, just off the US territory's southern Caribbean coastline
Published 07 Jan, 2020 12:00am
University rampage sparks new protests across India

University rampage sparks new protests across India

Protests were held across India Monday after masked assailants wielding batons and iron rods went on a rampage at a top Delhi university, leaving more than two dozen injured.
Published 07 Jan, 2020 12:00am
Israel approves more than 1,900 new settler homes: NGO

Israel approves more than 1,900 new settler homes: NGO

Israel has approved the construction of 1,936 new settler homes on occupied Palestinian territories, watchdog Peace Now said Monday. The green light was given on Sunday and Monday, Peace Now said, adding that 89 percent of the new homes will be erected in
Published 07 Jan, 2020 12:00am
UK protesters rally against teen's conviction

UK protesters rally against teen's conviction

Dozens of people demonstrated in London on Monday to call on the government to help a young British woman convicted in Cyprus of fabricating rape charges against Israeli tourists.
Published 07 Jan, 2020 12:00am
NATO tells Iran to avoid 'further provocations'

NATO tells Iran to avoid 'further provocations'

Tehran should avoid "further violence and provocations", NATO chief Jens Stoltenberg warned Monday, as tensions mount in the Middle East after US forces killed a top Iranian general. The warning came as the EU called an extraordinary meeting of foreign mi
Published 07 Jan, 2020 12:00am
Yemenis protest in Huthi-held Sanaa

Yemenis protest in Huthi-held Sanaa

Hundreds of Yemenis took part Monday in a protest in Sanaa called by Tehran-backed Huthi rebels to vent anger over the US assassination of Iranian commander Qasem Soleimani.
Published 07 Jan, 2020 12:00am
US slams Russia, China at UN for failure to condemn embassy attack

US slams Russia, China at UN for failure to condemn embassy attack

The United States on Monday slammed Russia and China for their failure to condemn an attack last week on its Baghdad embassy by pro-Iranian demonstrators. While congratulating the 27 of the 193 member nations that did issue statements condemning the Decem
Published 07 Jan, 2020 12:00am
Supreme leader emotional as Iran mourns top general

Supreme leader emotional as Iran mourns top general

Iran's supreme leader fought back tears Monday as a sea of black-clad mourners paid homage to the top commander killed in last week's US drone strike that inflamed tensions across the Middle East.
Published 07 Jan, 2020 12:00am
State banks help steady Turkish lira
Money & Banking

State banks help steady Turkish lira

The Turkish lira was flat on Monday despite another jump in oil prices, and three traders said state banks were again selling dollars to support the currency through market turbulence after the US killing of a top Iranian commander.
Published 07 Jan, 2020 12:00am
Yen hits three-month high in Asia
Money & Banking

Yen hits three-month high in Asia

The safe-haven yen touched a three-month high on Monday and gold jumped as investors fretted that the killing of Iran's most prominent military commander by the United States could trigger a broader Middle East conflict.
Published 07 Jan, 2020 12:00am
Safe-haven currencies in demand in Europe
Money & Banking

Safe-haven currencies in demand in Europe

The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran's most prominent military commander by the United States could trigger a broader Middle East conflict.
Published 07 Jan, 2020 12:00am
Forint, crown give back gains
Money & Banking

Forint, crown give back gains

Hungary's forint retreated to a key level against the euro on Monday as central Europe's currencies gave up some recent gains amid growing US-Iranian tensions that hit sentiment in the region.
Published 07 Jan, 2020 12:00am
Most Asian currencies under pressure
Money & Banking

Most Asian currencies under pressure

Most Asian currencies weakened on Monday as risk appetite in the region was dented further, with heightened tensions between the United States and Iran sending crude oil and safe-haven gold prices higher.
Published 07 Jan, 2020 12:00am
South Africa's rand edges up
Money & Banking

South Africa's rand edges up

South Africa's rand rebounded slightly in late trade on Monday after a steep fall last week, joining some other emerging market currencies in paring some losses even as Iran and the United States traded threats.
Published 07 Jan, 2020 12:00am
Australia crush New Zealand to sweep series
Cricket

Australia crush New Zealand to sweep series

Nathan Lyon captured five for 50 and 10 match wickets as Australia crushed New Zealand by 279 runs on Monday, capping a golden domestic summer as they swept the three-Test series.
Published 07 Jan, 2020 12:00am
OGDCL beat APL in OGCC tournament
Cricket

OGDCL beat APL in OGCC tournament

Oil & Gas Development Company Limited (OGDCL) won the toss and elected to bat first. The start was not good for the team and it lost quick wickets in the first 10 overs. Waqar Shah along with Jamshed and Azhar helped the team to post a defendable total on
Published 07 Jan, 2020 12:00am
BN Polo Team win Diamond Paints Cup for Champions Trophy 2020
Other

BN Polo Team win Diamond Paints Cup for Champions Trophy 2020

Eulogio Celestino struck all the eight goals to steer the BN Polo Team to a close 8-7 title victory against FG Polo Team in the final of the Diamond Paints Polo Cup for Champions Trophy 2020 played here at the Lahore Polo Club ground.
Published 07 Jan, 2020 12:00am
Sarfaraz meets Pakistan U-19 World Cup squad
Cricket

Sarfaraz meets Pakistan U-19 World Cup squad

Sarfaraz Ahmed, the skipper of the Pakistan side which lifted the ICC Under-19 Cricket World Cup in 2006, made a visit to the ongoing Pakistan Under-19 camp, here at the National Cricket Academy on Monday and shared his experience of playing the biggest a
Published 07 Jan, 2020 12:00am
S Africa defiant after Stokes show
Cricket

S Africa defiant after Stokes show

Ben Stokes launched an astonishing assault which enabled England to give themselves plenty of time to push for victory, but the tourists had to work hard to take two South African wickets before the close on the fourth day of the second Test at Newlands o
Published 07 Jan, 2020 12:00am