News Archives for Print - 2020-01-08

Print - 2020-01-08

Decline in exports: Ministry in state of shock

Commerce Ministry is reportedly in a state of shock over decline in exports in December 2019 as compared to November 2019 and December 2018, sources close to the advisor to the PM on commerce & industries, and production told Business Recorder.

Published 08 Jan, 2020 12:00am

Political instability, disasters hinder agri output: ADB

Pakistan's agricultural productivity is relatively low compared with global competitors as various environmental, political and economic shocks hinder agriculture production, says the Asian Development Bank (ADB).

Published 08 Jan, 2020 12:00am

Stocks

PSX stages partial recovery: BRIndex100 pares losses

Pakistan Stock Exchange Tuesday staged partial recovery on the back of healthy buying at attractive low levels, analysts said.

Published 08 Jan, 2020 12:00am

TAPI gas price: ECC to approve formation of body

The Economic Coordination Committee (ECC) of the Cabinet, which is scheduled to meet on Wednesday (today) in the chair of Advisor to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, will approve constitution of a committee to renegotiate

Published 08 Jan, 2020 12:00am

India asks refiners to stop buying Malaysian palm oil

India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said on Tuesday, following Malaysian criticism of India's actions in the occupied Kashmir region and its new citizenship law. Indi

Published 08 Jan, 2020 12:00am

PM approves Rs 7 billion grant for USC: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan on Tuesday said that Prime Minister Imran Khan has approved a grant of Rs 7 billion for the Utility Stores Corporation.

Published 08 Jan, 2020 12:00am

$200 millions commercial loans: FD asked to issue sovereign guarantee

Prime Minister Imran Khan has directed Finance Division to issue sovereign guarantee for $ 200 million commercial loans to be arranged by the Water and Power Development Authority (Wapda), sources close to secretary water told Business Recorder.

Published 08 Jan, 2020 12:00am

Pakistan, Qatar discuss situation

Pakistan and Qatar have agreed to a joint effort to deescalate the tension in the Middle East following assassination of a top Iranian commander General Qasem Soleimani by the US that led to heightening of tension between Tehran and Washington.

Published 08 Jan, 2020 12:00am

At least 56 killed in stampede at Soleimani's funeral

At least 56 people were killed in a stampede as tens of thousands of mourners packed streets for the funeral of a slain Iranian military commander in his hometown on Tuesday, forcing his burial to be delayed by several hours, state media said.

Published 08 Jan, 2020 12:00am

Putin on surprise visit to Syria as Mideast boils

Russian President Vladimir Putin met Syria's Bashar al-Assad Tuesday during an unprecedented visit to Damascus as the prospect of war between Iran and the United States loomed over the region. In one of the highest-profile assassinations in the troubled M

Published 08 Jan, 2020 12:00am

Senate expected to take up bills today

The Senate is expected to take up today (Wednesday) the three government bills that aim to "specify the tenure and the terms and conditions of service" of the three services chiefs and chairman joint chiefs of staff committee, which were passed by the Nat

Published 08 Jan, 2020 12:00am

Military-related bills approved by NA

The National Assembly on Tuesday approved three bills to formalize the process governing the tenure and reappointment/extension of Chief of Army Staff, Chairman Joint Chiefs of Staff Committee, Chief of the Air Staff and Chief of the Naval Staff.

Published 08 Jan, 2020 12:00am

SECP approves cut in NCCPL fees for investors

The Securities and Exchange Policy Board approved substantial reduction in National Clearing Company of Pakistan Limited (NCCPL) fees for investors and changes in the Companies (further issue of shares) Regulations, 2018 to facilitate capital formation, a

Published 08 Jan, 2020 12:00am

Senate body clears changes to AML law, FERA

Refusing to accept the condition of carrying more than US $10,000 foreign currency within the country with prior permission of the State Bank of Pakistan, the Senate Standing Committee on Finance Tuesday cleared amendments to the Anti-Money Laundering (AM

Published 08 Jan, 2020 12:00am

Indian diplomat summoned over allegations

Pakistan summoned top Indian diplomat on Tuesday and conveyed its strong rejection of the baseless, fabricated and mischievous Indian allegations of Sikh community persecution in the country.

Published 08 Jan, 2020 12:00am

PM has powers to remove, induct army chief at any time: Fawad

Declaring the Supreme Court decision about service tenure of army chief as alien to the Constitution, Federal Minister for Science and Technology Fawad Chaudhry on Tuesday said the Prime Minister has the powers to remove an army chief and induct a new one

Published 08 Jan, 2020 12:00am

CRM guidelines: SBP extends timeline

The State Bank of Pakistan (SBP) has extended the timeline for implementation of certain requirements of the guidelines on Compliance Risk Management (CRM).

Published 08 Jan, 2020 12:00am

Merchants' digital on-boarding: SBP revises regulations

The State Bank of Pakistan (SBP) has revised the regulations for Digital On-Boarding of Merchants. According to the SBP, in order to enable cash deposit transactions in merchant accounts, sections 4(c) and 9 (b) of 'Regulations for Digital On-boarding of

Published 08 Jan, 2020 12:00am

BoD and general meetings: SBP asks FIs to ensure accurate recording of minutes

The State Bank of Pakistan (SBP) has asked financial institutions to ensure accurate recording of minutes of Board of Directors (BoD) and general meetings reflecting the key deliberations, rationale for each decision made, and any significant concerns or

Published 08 Jan, 2020 12:00am

VTB sues Mozambique over $2 billion debt scandal

Russia's VTB said Tuesday it had filed a lawsuit in Britain against Mozambique after a state-owned company implicated in a multi-million-dollar bribery scandal defaulted on loan repayments. The bank wants to recover $535 million it lent to Mozambique Asse

Published 08 Jan, 2020 12:00am

Two pilots martyred in PAF aircraft crash

A PAF FT-7 aircraft on a routine operational training mission crashed near Mianwali. Both pilots Squadron Leader Haris bin Khalid and Flying Officer Ibaad ur Rehman embraced martyrdom (Shahadat), said a spokesperson of PAF on Tuesday. A board of inquiry h

Published 08 Jan, 2020 12:00am

'Fakhru bhai' passes away

Fakhruddin G Ebrahim, the former chief election commissioner of the country, who oversaw the national polls in 2013, passed away here on Tuesday. Considered to be one of the most competent constitutional experts of the country, he had also served as an at

Published 08 Jan, 2020 12:00am

Letters

Rising food inflation

It is indeed a matter of deep concern for the common man in particular that State Bank of Pakistan fears a further rise in food inflation. In this regard I would like to express deep appreciation for a noted economist who in his yesterday's op-ed for this

Updated 08 Jan, 2020 05:30am

Articles

China's farmers reap rich harvest through video-sharing apps

"Do you want a piece?" beekeeper Ma Gongzuo says, looking into the camera of a friend's smartphone before biting into the dripping comb of amber-coloured honey.

Updated 08 Jan, 2020 05:32am

Articles

Revisiting macro-economic policy

The State Bank of Pakistan (SBP), in its recent First Quarterly Report 2019-20, has stated that the policy mix adopted so far, "appears adequate to address the macroeconomic imbalances and push the economy towards stability." Two words in the above statem

Updated 08 Jan, 2020 04:48am

Articles

'Political' versus 'liberal' capitalism

Pakistan's economy has always remained in a state of confusion. Except for the first decade or so when we went for import substitution our attempts to set our economy on an even keel that would take us to what we could rightly claim to be a social-welfare

Updated 08 Jan, 2020 05:01am

Addressing drugs and child abuse

Prime Minister Imran Khan launched an important project named 'Zindagi' (life) on Monday to combat drug addiction and child abuse, the twin menace far too widespread than is generally recognized. Speaking on the occasion, he noted that while previously dr

Updated 08 Jan, 2020 06:50am

Incentivizing foreign investment in govt debt

The government of Pakistan seems to be striving to attract foreign exchange through a variety of means. In this regard, the State Bank of Pakistan (SBP) has simplified the tax regime for non-residents to encourage investment in long-term debt securities a

Updated 08 Jan, 2020 06:45am

Why NAB arrests accused during process of investigation, asks SC

The Supreme Court Tuesday questioned why the National Accountability Bureau (NAB) arrests the accused persons during the process of investigation. A three-member bench, headed by Justice Mushir Alam, heard the bail application of Faisal Kamran Qureshi. He

Published 08 Jan, 2020 12:00am

RPP case: Defense counsel asked to submit objections

The Accountability Court hearing Reshma Rental Power Plant (RPP) and Gulf Power Generation Company Ltd cases against former prime minister Raja Pervez Ashraf and others on Tuesday asked the defense counsel to submit his objections in writing against the i

Published 08 Jan, 2020 12:00am

NHS notifies 25 percent cut in prices of 89 medicines

The Ministry of National Health Services (NHS) has notified 25 percent reduction in prices of 89 medicines on the directives of Prime Minister Imran Khan after the federal cabinet reduced the prices in its meeting on December 25, 2019.

Published 08 Jan, 2020 12:00am

Amendments to Army Act: Over 25 PML-N MNAs supported bill with 'heavy heart': Mushahid

After getting orders from Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif, the MNAs belonging to the party on Tuesday decided to vote in favor of the Army Amendment Bill with a 'heavy heart' as they had serious reservations on the amendment.

Published 08 Jan, 2020 12:00am

LG Commission Islamabad constituted

The government on Tuesday constituted Local Government Commission Islamabad. According to a notification issued by Ministry of Interior, Special Assistant to Prime Minister on Capital Development Authority (CDA) MNA Ali Awan will head the commission that

Published 08 Jan, 2020 12:00am

Growers advised to take measures ahead of rainy spell

The Met Office has asked the growers to avoid using pesticides and irrigating crops keeping in view the expected rainy spell ahead. Precautionary measures, it said, the farmers should take to protect their nurseries and vegetables from severe cold weather

Published 08 Jan, 2020 12:00am

Cane Commissioner ordered to determine sucrose recovery rate as per law

Sindh High Court (SHC) has ordered Cane Commissioner to determine the sucrose recovery rate for the respective crushing seasons from 1998-99 till 2018-19 in accordance with the laws in twenty days.

Published 08 Jan, 2020 12:00am

Taxes

Quetta Appraisement: MCC surpasses revenue collection target

Model Collectorate of Customs Appraisement, Quetta collected Rs 14955.377 million revenue as import duties/taxes during the first half of fiscal year 2019-20. According to Collector Appraisement Quetta, the Collectorate collected Rs 14955.377 million reve

Published 08 Jan, 2020 12:00am

SEPA disposes of over 200 public complaints

Sindh Environmental Protection Agency (SEPA) on Tuesday claimed to have resolved a total 217 complaints related to environmental violations which were received from people of the different areas of the province.

Published 08 Jan, 2020 12:00am

Gold falls to Rs 92,100/tola

Gold on Tuesday receded to Rs 92,100 per tola from historic high by Rs 1300 on the local market, traders said. Now, the yellow metal was selling for Rs,78,961 per 10 grams down by Rs 1114 and $1567 an ounce down by $11. Silver was traded for Rs1070 per to

Published 08 Jan, 2020 12:00am

SU deans body meets

Deans Committee of the University of Sindh, Jamshoro met at the vice chancellor's office with SU Vice Chancellor Prof Dr Fateh Muhammad Burfat in the chair. The meet-up resolved to upload results online, hold departmental orientation on January 13 instant

Published 08 Jan, 2020 12:00am

Money & Banking

Banks to electronically submit FX-related cases through SBP online portal

Banks to electronically submit foreign exchange related cases through the State Bank of Pakistan's (SBP) Online Portal. Two core departments of State Bank of Pakistan (SBP) related to forex operations, i.e, Exchange Policy Department (EPD) & Foreign Excha

Published 08 Jan, 2020 12:00am

Transporters strike: Cargo movement comes to a halt at ports

The inward and outward movement of cargos at ports came to a standstill during last two days as no government authority has so far approached the goods transporters to call off strike.

Published 08 Jan, 2020 12:00am

Senate body for enhancing combat worthiness of PAF

The Senate Standing Committee on Defence Production has observed that Pakistan will develop its combat worthiness to protect its sovereignty and territorial integrity at all costs.

Published 08 Jan, 2020 12:00am

NA panel asks ED to form body to regulate testing agencies

A National Assembly panel on Tuesday directed the Establishment Division for formation of an authority to regulate the private testing agencies, besides ordering an inquiry into the leakage of papers of the tests conducted by Khyber Pakhtunkhwa Education

Published 08 Jan, 2020 12:00am

Facilitation of startups: SECP to introduce major amendments to Companies Act

The Securities and Exchange Commission of Pakistan (SECP) will introduce major amendments to the Companies Act to provide an enabling regulatory framework to facilitate startups in Pakistan.

Published 08 Jan, 2020 12:00am

Energy

SNGPL, SSGCL tasked to set up 30 LPG air-mix plants

The two state companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL), have been given task to set up 30 Liquefied Petroleum Gas (LPG) air mix plants to cater the domestic gas needs, sources said.

Published 08 Jan, 2020 12:00am

Amal Umer murder case: SC directs trial court to conclude within three months

The Supreme Court on Tuesday directed a trial court to conclude within three months the murder case of Amal Umer, a 10-year old girl who lost her life when a stray bullet hit her during a police encounter on August 13, 2018.

Published 08 Jan, 2020 12:00am

Fake accounts, Park Lane cases: Zardari, Faryal to be indicted on 22nd

The Accountability Court hearing multibillion rupees fake bank accounts case on Tuesday said that former president Asif Ali Zardari, his sister Faryal Talpur and other accused in the mega money laundering and Park Lane cases would be indicted on January 2

Published 08 Jan, 2020 12:00am

Smuggled goods worth Rs19.1m seized

Directorate General Intelligence and Investigation (DGI&I)-Customs, Karachi has seized huge quantity of non-duty paid foreign origin miscellaneous goods worth Rs 19.1 million.

Published 08 Jan, 2020 12:00am

12th Int'l CSR Summit & Awards to be held on 22nd

The 12th International CSR Summit and Awards-2020 will be organized on January 22, at a hotel in Islamabad to thoroughly discuss current issues related to corporate philanthropy and properly eulogize efforts of the companies doing best philanthropic activ

Published 08 Jan, 2020 12:00am

Two killed, 13 injured in Quetta blast

At least two people were killed and 13 others sustained injuries in a powerful explosion in the provincial capital's McConaughey Road, officials and rescue members said Tuesday.

Published 08 Jan, 2020 12:00am

Taxes

Performance report of DGI&I-Customs for 2019-20

The revenue realization by the Directorate of Intelligence & Investigation-Customs, Karachi during first two quarters of the financial year 2019-20, stood over six times higher than the preceding period of last fiscal year.

Published 08 Jan, 2020 12:00am

Sindh cabinet waives shop registration fee

Sindh Minister for Information and Labor, Saeed Ghani along with Sindh Minister for Local Government, Syed Nasir Hussain Shah has said that the Sindh cabinet has approved that following the "Ease of Doing Business Reforms" there would be no registration f

Published 08 Jan, 2020 12:00am

Owned, monitored by PM: PBC calls for devising long-term export policy

Pakistan Business Council (PBC) has said that a long-term export policy must be owned and monitored by the Prime Minister to give exports the consistent priority and importance that it clearly deserves.

Published 08 Jan, 2020 12:00am

Telecommunication

PTA allows test and trial of 5G technology

Pakistan Telecommunication Authority (PTA) has granted six months permission to mobile operators for conducting test and trial of 5G technology under limited environment and non-commercial basis.

Published 08 Jan, 2020 12:00am

Stocks

Level of fees paid by mutual funds remains highest: SECP chief

Chairman Securities & Exchange Policy Board Khalid Mirza said Tuesday that the level of fees paid by Pakistani mutual funds remains the highest in the world even after the large reduction in fees carried out by the Securities and Exchange Commission of Pa

Published 08 Jan, 2020 12:00am

Communication disability rising in Pakistan: ZU VC

"More than 23 million children who face communication disability which is rising in Pakistan with each passing day and in our country do not have enough therapists to treat such patients. In the sphere of speech development we have numerous challenges but

Published 08 Jan, 2020 12:00am

Energy

'Allowing K-Electric to collect FCA from consumers termed unjust'

President Site Association of Industry, Suleman Chawla, has urged Prime Minister Imran Khan to issue immediate order to cancel Nepra permission to K-Electric to collect fuel charges adjustment (FCA) of three years (from July 2016 to June 2019) from the co

Published 08 Jan, 2020 12:00am

Roshan Sindh programme case: IHC defers hearing in pre-arrest bail plea of Sharjeel

The Islamabad High Court (IHC) Tuesday deferred hearing in pre-arrest bail plea of Pakistan Peoples Party (PPP) leader Sharjeel Memon in the Roshan Sindh Program case.

Published 08 Jan, 2020 12:00am

NUST holds seminar on 'Indian-Occupied Jammu & Kashmir's destiny'

With a view to commemorating the Right to Self-determination Day, observed worldwide by Kashmiris on January 5, and to expressing solidarity with them, NUST Institute of Policy Studies (NIPS) organised a seminar on "Indian-Occupied Kashmir's Destiny: Free

Published 08 Jan, 2020 12:00am

Commodities

PSMA directs mills to issue cane procurement permits to growers

The Pakistan Sugar Mills Association (PSMA) has directed all its member mills to immediately start issuing cane procurement permits to save sugarcane growers from hardships. The PSMA representatives claimed this in a meeting with the Secretary Food Punjab

Published 08 Jan, 2020 12:00am

Punjab Cabinet okays Atif Bajwa's appointment as BoP president

The Punjab Cabinet on Tuesday approved the appointment of Atif Bajwa as President of Bank of Punjab.

Published 08 Jan, 2020 12:00am

Energy

SSGC clarification

This is with reference to the news item 'Gas Billing: What's SSGC upto?' appearing in the Business Recorder dated January 6th, 2020. The news item needs a few clarifications that are stated below.

Published 08 Jan, 2020 12:00am

Governor, CM vow to continue efforts for people's welfare

Punjab Governor Chaudhry Mohammad Sarwar held a meeting with Chief Minister Sardar Usman Buzdar, here on Tuesday and discussed matters pertaining to progress and prosperity of the province of Punjab and provision of basic facilities to the people.

Published 08 Jan, 2020 12:00am

TDAP conducts training programme for exporters

TDAP organised National Exporters Training Program (NETP) at Rawalpindi in collaboration with RCCI &IBA-Karachi on 7thJanuary, 2020. The objective of this program was to share the trade knowledge in terms of available resources, international trends, TDAP

Published 08 Jan, 2020 12:00am

Money & Banking

BankIslami, Premier Systems extend alliance

BankIslami Pakistan Limited has extended its agreement for the year 2020, with Premier Systems (Pvt) Ltd (Audi in Pakistan), Pakistan's No 1 luxury premium automobile brand.

Published 08 Jan, 2020 12:00am

Ramzan Sugar, Ashiana Housing Scheme cases: AC allows one-time exemption to Shahbaz

An accountability court on Tuesday allowed one-time exemption to PML-N President Shahbaz Sharif for appearance in proceedings of Ramzan Sugar Mills' and Punjab Ashiana-i-Iqbal Housing Scheme cases. The court reserved its verdict on a separate application

Published 08 Jan, 2020 12:00am

Cotton & Textile

Goods transporters strike: Textile exporters in doldrums over suspension of cargo traffic

Textile exporters are highly perturbed over suspension of cargo traffic due to countrywide strike of goods transporters. This has halted the export activities putting millions of dollars export orders on stake and textile exporters are unable to meet inte

Published 08 Jan, 2020 12:00am

Sibtain reappointed as minister

Former Punjab minister of forest and wildlife and Pakistan Tehreek-e-Insaf (PTI) MPA Muhammad Sibtain Khan from Mianwali on Tuesday again took oath as provincial minister in a ceremony here at the Governor's House.

Published 08 Jan, 2020 12:00am

Articles

Partly Facetious : A colonial mindset?

"The Khan says that English reflects a colonial mindset."

Updated 08 Jan, 2020 04:55am

CCP's advisory for makers of fast moving consumer goods

The Competition Commission of Pakistan (CCP) has conveyed to the fast moving consumer goods manufacturers that the companies in this sector need to pay special care while advertising of their products by truthfully demonstrating pricing, character, method

Published 08 Jan, 2020 12:00am

VIS reaffirms IFS rating of RICL at 'A'

VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength Rating of Reliance Insurance Company Limited (RICL) at 'A' (Single A). Outlook on the assigned ratings is 'Positive'.

Published 08 Jan, 2020 12:00am

Energy

LNG helps save $5 billion substituting expensive oil imports: experts

Pakistan has imported over 19 million tons of LNG since 2015, saving around $5 billion substituting expensive oil imports, to meet the gas shortage, which keeps increasing given depletion of existing fields, lack of significant discoveries and continuousl

Published 08 Jan, 2020 12:00am

Brief Recordings

Frontier Ceramics Limited

Frontier Ceramics Limited (PSX: FRCL) was established in July 1982 as a public limited company listed on the stock exchange. It is essentially engaged in the manufacturing and selling of ceramic wall and floor tiles under the widely known brand name "FORT

Updated 08 Jan, 2020 06:58am

Europe warns Turkey over Libya intervention

Four leading European powers on Tuesday condemned Turkey's involvement in the Libyan crisis following emergency talks in Brussels after Ankara sent troops to support the UN-backed Tripoli government.

Published 08 Jan, 2020 12:00am

India suffers hottest decade on record

The last decade was India's hottest on record with the national weather office calling the impact of global warming "unmistakable" and extreme weather killing more than 1,500 people last year.

Published 08 Jan, 2020 12:00am

Austria's Kurz returns as world's youngest chancellor

The leader of Austria's conservatives Sebastian Kurz was sworn in Tuesday as the world's youngest democratically elected leader, at the head of an unlikely coalition with the Greens following the collapse of his previous alliance with the far-right.

Published 08 Jan, 2020 12:00am

NASA planet hunter finds Earth-sized world in 'Goldilocks zone'

NASA's planet hunter satellite TESS has discovered an Earth-sized world within the habitable range of its star, which could allow the presence of liquid water.

Published 08 Jan, 2020 12:00am

Pompeo defends legality of US killing Iran's Soleimani

Secretary of State Mike Pompeo defended Tuesday the legality of the US drone strike that killed Iranian General Qasem Soleimani and any future military action against Iran.

Published 08 Jan, 2020 12:00am

6.2 magnitude earthquake strikes in Indonesia's northwest

A strong earthquake jolted Indonesia's northwest on Tuesday, but no tsunami warning was issued and there were no immediate reports of injuries or damage.

Published 08 Jan, 2020 12:00am

NATO taking 'some personnel' out of Iraq

NATO said Tuesday it would take "some personnel" out of Iraq because of the increased danger there after the US killing of an Iranian general triggered revenge threats.

Published 08 Jan, 2020 12:00am

Policy unchanged, US not leaving Iraq: Pentagon chief

US Defense Secretary Mark Esper said Tuesday that the United States is not pulling its forces out of Iraq, denying that there is a signed letter from the US side announcing an exit.

Published 08 Jan, 2020 12:00am

Iraqi PM says received signed US 'withdrawal' letter Monday

Iraq's premier Adel Abdel Mahdi confirmed Tuesday that he had received what the US said was a draft letter describing steps its military would take to "move out" of Iraq.

Published 08 Jan, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,473. The traded value of Metals, Energy and COTS/FX was recorded at PKR 6.618 billion and the number of lots traded was 11,194.

Published 08 Jan, 2020 12:00am

Commodities

CBOT soyabean futures firmer

Chicago Board of Trade soyabean futures rebounded on Monday from steep losses in the prior session as hopes for improved exports to China outweighed worries over rising Middle East tensions, analysts said. Actively traded March soyabean futures tumbled 1.

Published 08 Jan, 2020 12:00am

Energy

Asia's naphtha crack falls to two-month low

Asia's naphtha crack dived 12.3%, or nearly $10, on Monday to a two-month low of $70.93 a tonne amid production cuts by petrochemical producers. Faced with persistently high naphtha premiums but weak demand for plastics, naphtha crackers from North Asia t

Published 08 Jan, 2020 12:00am

Commodities

China's iron ore futures rise on firm demand

Iron ore futures in China extended gains on Monday, rising for the fourth straight session, as higher weekly utilisation rate pointed to firm demand for the steelmaking ingredient.

Published 08 Jan, 2020 12:00am

Commodities

Euronext wheat little changed as Middle East tensions weigh

Euronext wheat futures were little changed on Monday as concerns over an escalation in tensions between the United States and Iran encouraged prices to consolidate below a six-month high struck last year. Benchmark March milling wheat on Paris-based Euron

Published 08 Jan, 2020 12:00am

Commodities

CBOT corn futures ease on technical selling

Chicago Board of Trade corn futures eased on Monday, pressured by technical selling and position squaring ahead of a key US Department of Agriculture (USDA) crop report due at the end of the week.

Published 08 Jan, 2020 12:00am

Energy

US natural gas futures little changed

US natural gas futures traded within a few cents of unchanged on Monday after rising earlier in the day with an increase in the crude market and forecasts for colder-than-previously expected weather in late January.

Published 08 Jan, 2020 12:00am

Activities at Karachi and Qasim Ports

The Karachi Port handled 96,974 tonnes of cargo comprising 56,673 tonnes of import cargo and 40,301 tonnes of export cargo including 4,244 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.

Published 08 Jan, 2020 12:00am

Cotton & Textile

Cotton market: Renewed buying by mills pushes rates higher

Renewed buying by mills pushed the rates further higher on the cotton market on Tuesday in the process of trading, dealers said. The official spot rate was unchanged at Rs8900, they added. In ready session, nearly 11,000 bales of cotton changed hands betw

Published 08 Jan, 2020 12:00am

Commodities

CBOT wheat futures fall

Chicago Board of Trade (CBOT) wheat futures dropped for a second straight session on Monday on technical selling and profit-taking, and on concerns over rising tensions in the Middle East, analysts said. CBOT March wheat, which last week hit the highest l

Published 08 Jan, 2020 12:00am

Commodities

India's gold prices hit record high on safe-haven rush

Gold prices in India jumped over 2% on Monday to record levels amid a rush to invest in safe-haven assets globally as well as a steep fall in the rupee, dampening demand for the precious metal in the world's second-biggest consumer.

Published 08 Jan, 2020 12:00am

Money & Banking

Swiss franc and yen steady in Asia

The Swiss franc held gains against the dollar on Tuesday as traders sought save-havens amid heightened anxiety about potential Iranian retaliation to a US drone strike that killed its most prominent military commander.

Published 08 Jan, 2020 12:00am

Money & Banking

Safe-haven currencies pull back in Europe

The Japanese yen and Swiss franc pulled back from recent highs on Tuesday as investors judged that the chances of an all-out conflict between the United States and Iran had fallen.

Published 08 Jan, 2020 12:00am

Money & Banking

Early trade in New York: Safe-haven currencies retreat

The safe-haven yen and Swiss franc pulled back from recent highs against the dollar on Tuesday as financial markets stabilized, with investors turning more hopeful that tensions between the United States and Iran would not escalate into an all-out war.

Published 08 Jan, 2020 12:00am

Money & Banking

Dollar recovers against yen in New York

The dollar rallied against the safe-haven Japanese yen on Monday, but stayed weaker versus the Swiss franc, as market sentiment remained cautious amid concerns about a broader escalation of Mideast conflicts after the United States killed Iran's most prom

Published 08 Jan, 2020 12:00am

Money & Banking

South African rand up

South Africa's rand strengthened on Tuesday as the absence of any immediate escalation in tensions between Iran and the United States prompted investors to return to riskier assets.

Published 08 Jan, 2020 12:00am

Money & Banking

Asian currencies gain

Most Asian currencies drew relief on Tuesday from the absence of any immediate escalation in tensions other than sabre rattling between Iran and the United States after the killing of Tehran's top general in a US drone strike at the end of last week.

Published 08 Jan, 2020 12:00am

Money & Banking

Sterling lower as dollar gains

Sterling fell on Tuesday as the dollar rose, with investors watching British lawmakers' return to parliament after the Christmas recess in preparation to vote on Prime Minister Boris Johnson's European Union (EU) withdrawal deal.

Published 08 Jan, 2020 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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