News Archives for Print - 2020-01-13

Print - 2020-01-13

89 Niger soldiers killed in jihadist attack on camp

A jihadist attack on a military camp in western Niger three days ago left 89 soldiers dead, according to a new toll announced by the government on public radio Sunday. "After a thorough search, the toll has been established as 89 dead among friendly force

Updated 13 Jan, 2020 07:01am

Queen, Prince Harry, senior royals set for crisis meeting

Queen Elizabeth II will host a showdown meeting with Prince Harry on Monday in an attempt to solve the crisis triggered by his bombshell announcement that he and wife Meghan were stepping back from the royal frontline.

Updated 13 Jan, 2020 07:04am

'Space unites us': First Iranian-American astronaut reaches for stars

Jasmin "Jaws" Moghbeli earned her fierce nickname during her time as a decorated helicopter gunship pilot who flew more than 150 missions in Afghanistan. The Marine Corps major, MIT graduate and college basketball player can now add another accomplishment

Published 13 Jan, 2020 12:00am

Spain's new coalition is headed in 'single direction': PM

Spain's socialist Prime Minister Pedro Sanchez on Sunday promised that his new minority coalition with the radical left Podemos party was heading in the same direction, despite past differences between the two parties. "It's a plural government, a coaliti

Published 13 Jan, 2020 12:00am

Domestic urea demand: Subsidized RLNG can be solution?

Fertilizer Review Committee (FRC) is scheduled to meet on Monday (today) to consider the possibility of operating two fertilizer plants on subsidized RLNG to meet domestic urea demand, well-informed sources told Business Recorder.

Published 13 Jan, 2020 12:00am

Stocks

Futures spread up by 603 basis points

The futures spread increased by 603bps to 8.67 percent on the last day of the outgoing week. Trading activities on the futures counter, however, remained thin as average daily volumes decreased by 2.4 percent to 78.82 million shares as compared to previou

Updated 13 Jan, 2020 06:44am

Stocks

Roller coaster ride witnessed

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on January 10, 2020 on the back of healthy buying by both local and foreign investors. BRIndex100 gained 102.1 points on week-on-week basis to close at 4,542.08 points. Average

Updated 13 Jan, 2020 06:44am

Lebanon central bank seeking formal banking controls

Lebanon's under-fire central bank chief is requesting special prerogatives to legitimise and regulate controversial controls imposed by banks on transactions in the crisis-hit country, two banking sources said Sunday.

Published 13 Jan, 2020 12:00am

PM asks aides to address concerns

Prime Minister Imran Khan has tasked his aides to address the concerns of Muttahida Qaumi Movement (MQM) Pakistan following Information Technology Minister Khalid Maqbool Siddiqui's announcement to quit his ministerial portfolio citing "apathy of the fede

Published 13 Jan, 2020 12:00am

MQM-P's Siddiqui quits Cabinet

Muttahida Qaumi Movement-Pakistan (MQM-P) convener Khalid Maqbool Siddiqui announced his resignation as Federal Minister of Information Technology and Telecommunication. Flanked by fellow party leaders Amir Khan, Kunwar Jameel, Khwaja Izharul Hasan, Nasre

Published 13 Jan, 2020 12:00am

Money & Banking

Steady trend

The rupee sustained stable trend in terms of the dollar on the money market during the week, ended on Jan 11, 2020. The rupee gained modestly versus the dollar for buying and selling at Rs 154.80 and Rs 154.82.

Updated 13 Jan, 2020 06:44am

FY20: Over Rs 600 billion revenue shortfall projected

Revenue shortfall is projected at over Rs 600 billion from the current fiscal year's target of Rs 5.5 trillion unless Rs 300- Rs 400 billion additional tax measures and/or exemption withdrawals are taken, senior officials of Federal Board of Revenue (FBR)

Published 13 Jan, 2020 12:00am

Qureshi in Iran to help ease ME tension

Foreign Minister Shah Mahmood Qureshi on Sunday visited the Imam Reza shrine in Mashhad and "made special prayers for the security of Pakistan and the unity and solidarity of the Muslim Ummah." According to an official statement, the foreign minister is i

Published 13 Jan, 2020 12:00am

Bangladesh arrests Sufi singer after protests

A top Bangladeshi Sufi folk singer was arrested under a controversial internet law that critics say is used to stifle free speech after alleged anti-Islam comments triggered protests, police said Sunday.

Published 13 Jan, 2020 12:00am

CPPA-G unlikely to pay mark-up on loan

The Central Power Purchasing Agency -Guaranteed (CPPA-G) is unlikely to pay the mark-up on loan amounting to Rs 17.5 billion to be arranged by Water and Power Development Authority (Wapda) from Allied Bank of Pakistan (ABL) for debt liability of Habib Ban

Published 13 Jan, 2020 12:00am

World leaders in Oman pay respects after sultan's death

Britain's Prince Charles and Prime Minister Boris Johnson joined regional leaders in Oman on Sunday to offer their condolences to the royal family after the death of long-reigning Sultan Qaboos.

Published 13 Jan, 2020 12:00am

FBR chief says will resume office on January 20

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Sunday said that he would resume office on January 20 (Monday). According to a tweet of Shabbar Zaidi, "Alhumdulillah, feeling better. Had tests and treatment done at Gastro Deptt of SIUT Karachi. D

Published 13 Jan, 2020 12:00am

Bangladesh decline playing Test series in Pakistan

Bangladesh on Sunday decided to stay firm in their decision to just play three Twenty20 internationals in Pakistan later this month, dismissing a Pakistani proposal to take part in a full Test series.

Published 13 Jan, 2020 12:00am

Indian police officer arrested for helping freedom fighters

A decorated Indian officer has been arrested for helping to transport freedom fighters in occupied Kashmir, the police chief of IOK said Sunday. Deputy superintendent Davinder Singh had worked for the police for decades and was a member of an elite counte

Published 13 Jan, 2020 12:00am

Oil, gas exploration: Fresh tenders of 18 blocks to be released: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Sunday said the Pakistan Tehreek-e-Insaf (PTI) government would make the country corruption free and handover it to the next generation.

Published 13 Jan, 2020 12:00am

Pelosi sees 'enough testimony' against Trump to convict

Top US Democrat Nancy Pelosi said Sunday she believes the impeachment probe into President Donald Trump produced "enough testimony to remove him from office" when the case moves to the Senate.

Published 13 Jan, 2020 12:00am

OIC condemns bomb attack at Quetta mosque

The Organisation of Islamic Cooperation (OIC) Sunday strongly condemned the bomb attack which had targeted a mosque in Quetta on Friday and resulted into a number of fatalities and serious injuries.

Published 13 Jan, 2020 12:00am

Letters

Padukone's silent protest

That Bollywood superstar Deepika Padukone is different from other actors and actresses is a fact. Her sudden appearance at Delhi's Jawaharlal Nehru University (JNU) student protest has clearly galvanised Bollywood opposition to BJP government's Hindu rash

Updated 13 Jan, 2020 06:52am

Articles

US-China trade deal a mixed success for Trump

President Donald Trump is set to sign a trade deal with China on Wednesday that he will trumpet as a major victory, but it comes at a steep cost after a bitter two-year standoff between the world's two top economic powers. "The hard issues between the Uni

Updated 13 Jan, 2020 06:55am

Articles

Economics of wars

"All war is a symptom of man's failure as a thinking animal," John Steinbeck. Wars are dangerous, costly, destructive and inhuman. Yet history shows how they are a political indulgence many politicians find irresistible. Power and superpower are the main

Updated 13 Jan, 2020 06:45am

Articles

Pakistan's monetary policy

A central bank's primary responsibility as per the International Monetary Fund (IMF) is to conduct monetary policy to achieve price stability (low and stable inflation) and to help manage economic fluctuations. Interestingly in 2017-18, when Pakistan was

Updated 13 Jan, 2020 06:39am

Terrorist strike in Quetta

Although there is a substantial reduction in terrorism-related fatalities in the rest of the country, Balochistan has had little respite. A suicide bomber struck inside a Quetta mosque on Friday, killing 15 people, including the prayer leader and a deputy

Updated 13 Jan, 2020 06:24am

Stabilisation to keep growth subdued

The World Bank in its latest report titled "Global Economic Prospects, Slow Growth, Policy Challenges" states that growth in Pakistan is expected to languish at 3 percent or less through 2020 as macroeconomic stabilisation efforts weigh heavily on activit

Updated 13 Jan, 2020 06:24am

Appointment of CEC, ECP members: Parliamentary committee to meet tomorrow

An important meeting of the Parliamentary Committee on the appointment of Chief Election Commissioner and Members of Election Commission of Pakistan is scheduled tomorrow (Tuesday) amidst the reports that the government and opposition are likely to reach

Published 13 Jan, 2020 12:00am

Ahmad Faraz remembered

The renowned revolutionary Poet Ahmad Faraz was remembered on his 89th birth anniversary on January 12. Few people are born in decades who leave their mark over others; Ahmad Faraz was one of them whose work and personality fetched him prominence all arou

Published 13 Jan, 2020 12:00am

Nine Pakistanis repatriated from Jeddah

The nine Pakistani who stuck in Saudi Arabia had been repatriated the other day after Community Welfare Attaché (CWA) Jeddah sorted out their problem. Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulf

Published 13 Jan, 2020 12:00am

AJK PM condemns Indian army chief's statement

Prime Minister Azad Jammu and Kashmir (AJK) Raja Farooq Haider on Sunday strongly condemned Indian Army Chief General Manoj Mukund Naravane's recent provocative statement and said that Kashmiris living in AJK along-with armed forces are fully prepared to

Published 13 Jan, 2020 12:00am

Energy

Petroleum imports dip 21.79 percent in five months of FY20

The petroleum group imports into the country dipped by 21.79 percent during the first five months of the current fiscal year against the same period of last year.

Updated 13 Jan, 2020 06:46am

Rains, cold weather to have good impact on Kinnow orchards: BMP

Secretary General, Businessmen Panel (BMP) Ahmad Jawad has said that ongoing rains and cold weather is putting good impacts on Kinnow orchards and overall citrus yield would also be enhanced during current season and it is expected Kinnow fruit may easily

Published 13 Jan, 2020 12:00am

Good governance bill introduced in KP PA

The provincial government of Khyber Pakhtunkhwa has introduced Civil Administration (Public Service Delivery and Good Governance), Act, 2020 in the provincial assembly to establish and build an effective system of civil administration for good governance

Published 13 Jan, 2020 12:00am

Tobacco industries caused Rs 153 billion loss to national exchequer

Society for the Protection of the Rights of the Child (SPARC), Human Development Foundation (HDF) and Pakistan National Heart Association (PANHA) organized a session on "loss of revenue because of deceptive tactics of tobacco industry" in Islamabad.

Published 13 Jan, 2020 12:00am

Chinese CG's Gwadar visit concludes

Chinese Consul General in Karachi Li Bijian and several other government officials had finished their visit to Gwadar, after attending the inauguration ceremony of first LPG (Liquefied Petroleum Gas) Terminal at Gwadar Port. It is reported that Gwadar LPG

Published 13 Jan, 2020 12:00am

MQM-P won't take path of party's London-based founder: Ghani

Sindh Minister for Information, Archives and Labour Saeed Ghani on Sunday requested the government's allied parties not to be part of the tyranny for some ministries. Addressing at a ceremony in Karachi on Sunday, he hoped that the Muttahida Qaumi Movemen

Published 13 Jan, 2020 12:00am

People are responsible for ensuring Constitution's protection: CJP

Chief Justice of Pakistan Gulzar Ahmed has said the people of Pakistan have the responsibility to ensure that the country's constitution is protected by all means and all things done according to the mandate.

Published 13 Jan, 2020 12:00am

Trade fair held to showcase women handicrafts

A trade fair was organised to showcase the women handicrafts belonging different regions of the Khyber Pakhtunkhwa, in which Afghan refugees women entrepreneurs were also participated. The trade fair was held under auspices of the women Chamber of Commerc

Published 13 Jan, 2020 12:00am

Prices of essential food items continue to rise

Upward trend in prices of essential food commodities, including pulses, vegetable, flour, sugar, fruits, live chicken/meat, etc was witnessed in retail market during preceding week as compared to last week, said in a survey carried out Business Recorde

Published 13 Jan, 2020 12:00am

Quake jolts AJK, upper parts of country

A 4.7 magnitude earthquake tremor was felt in Azad Jammu and Kashmir (AJK) and upper parts of the country on Sunday. According to details, tremors were felt in Swat, Upper Dir, Muzaffarabad, Neelum Valley, GB and other areas. People came out of their home
Published 13 Jan, 2020 12:00am

Fawad terms MQM-P's demands 'legal'

Federal Minister for Science and Technology, Fawad Chaudhry, said on Sunday that the demands raised by Muttahida Qaumi Movement Pakistan (MQM-P) as a political party were legal and it is not unusual for the emergence of differences between political parti
Published 13 Jan, 2020 12:00am

Cotton & Textile
WEEKLY COTTON REVIEW: Prices maintain increasing trend

The trend in increase in prices of cotton remained continued. Cautious attitude of ginners, transport strike, fog and rains were hurdles behind trade volume. Special Task Force under the chair of Prime Minister was constituted to look after the production
Updated 13 Jan, 2020 06:45am

Punjab earmarks Rs 10 billion for promoting sunflower's crop

Under Prime Minister's Agriculture Emergency Programme Punjab government has allocated Rs10 billion for the promotion of Sunflower crop across the Punjab. Official Sources told Business Recorder on Sunday that under the programme government was pro
Published 13 Jan, 2020 12:00am

Government to address MQM's reservations: NA speaker

Speaker National Assembly, Asad Qaiser has said that Muttahida Qoumi Movement (MQM) is the coalition partner of the PTI government and we will address their reservations. He was talking to the media on the occasion of the inaugural ceremony of a sports ga
Published 13 Jan, 2020 12:00am

Pakistan paper, stationary and education expo concludes

Thousands visited Pakistan Paper, Stationary and Education Expo at Lahore Expo Centre on the concluding day on Sunday. The international conference started on Saturday that attracted corporate sector, families and students in huge numbers who showed great
Published 13 Jan, 2020 12:00am

Constable attacks DIG with knife in Lahore

A police constable critically injured Deputy Inspector General of Police (DIG) Shahzad Aslam in a knife attack at Qilla Gujjar Singh Police Line late on Saturday.
Published 13 Jan, 2020 12:00am

Traders' viewpoint: Transporters' strike badly affecting export sector

The countrywide strike of goods carriers and transport services have been entered in the second week, which is yielding negative impact over export sector, especially textile industry and halted the export activities putting millions of dollars export ord
Published 13 Jan, 2020 12:00am

Two pilots die in Sadiqabad plane crash

A plane crashed due to a technical fault while spraying insecticide in fields here on Sunday, resultantly two pilots of the Federal Department's Plant Protection Unit lost their lives. According to details, the district administration of Sadiqabad had cal
Published 13 Jan, 2020 12:00am

Balochistan receives heavy rain, snowfall

Balochistan has received rain and snowfall while the met office has forecast chances of rain with occasional gusty winds in Karachi on Sunday.
Published 13 Jan, 2020 12:00am

Gender-balanced workplaces: All Pakistan Women Movement hosts conference

All Pakistan Women Movement on Sunday hosted a conference on gender titled Evolve 2020-Inspire. The sensational event was brought to life by 30 eminent speakers from the industry who shared their ideas and insights on the importance of inclusion in workpl
Published 13 Jan, 2020 12:00am

ACE Punjab recovers Rs 100.74 billion from 'corrupt elements' during 2019

The Anti-Corruption Establishment (ACE) Punjab has claimed to have achieved a historic milestone by recovering Rs 100.74 billion from "corrupt elements" during the year 2019. "Out of the total amount, Rs 1567.17 million was recovered under direct recovery
Published 13 Jan, 2020 12:00am

16 food points sealed

The Punjab Food Authority (PFA) on Sunday sealed 16 food points and imposed emergency prohibition order on six while carrying out a province-wide operation against sweets shops, desi ghee and khoya production units. The operation was led by PFA Director G
Published 13 Jan, 2020 12:00am

Brief Recordings
An interview with Mohammad Hassan Bakshi, former chairman ABAD 'Karachi contributes 80 percent of all real estate taxes'

The ambitious Naya Pakistan Housing Program (NPHP), launched after much fanfare - and is PM Imran Khan's pet project announced right as he set off into PM office - has evidently hit some snags. Even though the government's commitment to facilitate a milli
Updated 14 Jan, 2020 09:16am

Indian police battle anti-Modi protesters over disputed law

Indian police baton-charged protesters Sunday to stop them reaching Prime Minister Narendra Modi's car as nationwide protests against a bitterly disputed citizenship law entered a second month. Tens of thousands staged protests through the night in the ea
Published 13 Jan, 2020 12:00am

China slams US for congratulating Tsai on Taiwan poll win

China on Sunday slammed officials from the US and other countries for congratulating Taiwan President Tsai Ing-wen after she was re-elected with a landslide victory in a stunning rebuke of Beijing's campaign to isolate the self-ruled island.
Published 13 Jan, 2020 12:00am

At least 11 dead as storms sweep through US south

Severe storms sweeping the southern US killed at least 11 people, authorities said, as tornadoes and high winds upturned cars, destroyed homes and left tens of thousands without power. The storms hit parts of the south on Friday and were expected to move
Published 13 Jan, 2020 12:00am

European powers urge Iran to fully return to nuclear deal

France, Germany and Britain on Sunday called on Iran to return to "full respect" of its commitments under Tehran's 2015 nuclear accord with world powers. The three European signatories to the deal have sought to salvage the accord intended to limit Iran's
Published 13 Jan, 2020 12:00am

Trump warns Iran not to kill protesters, door still open to talks

US Donald Trump warned Iran Sunday against killing protesters who have risen up over the regime's downing of a civilian airliner as his defense secretary left the door open to talks with Tehran without preconditions. Trump's salvo came as Iran's Islamic r
Published 13 Jan, 2020 12:00am

Anti-government fun run draws thousands of defiant Thais

Around 10,000 Thais joined a "run against dictatorship" on Sunday, shouting slogans and wielding three-finger salutes from the Hunger Games films in the largest show of political defiance since the 2014 coup.
Published 13 Jan, 2020 12:00am

Malta gets new PM

Outsider Robert Abela is set to become Malta's new premier on Sunday after Prime Minister Joseph Muscat's downfall over the murder of an investigative journalist. Abela, who is seen as representing continuity, was elected leader of the Labour Party, meani
Published 13 Jan, 2020 12:00am

Fragile truce agreed in Libya after nine months of fighting

Both sides in Libya's conflict agreed to a ceasefire from Sunday to end nine months of fighting, following weeks of international diplomacy and calls for a truce by power-brokers Russia and Turkey. The oil-rich North African country has been wracked by bl
Published 13 Jan, 2020 12:00am

Iran agrees de-escalation 'only solution' to solve crisis with US

Iran signalled Sunday it favours a de-escalation after 10 days of heightened tensions with the United States during which both sides fired missiles and Tehran accidentally shot down a passenger aircraft. Security was stepped up in Iran's capital after a v
Published 13 Jan, 2020 12:00am

Human Rights Watch chief says barred from entering Hong Kong

Human Rights Watch chief Kenneth Roth said Sunday he had been denied entry into Hong Kong, where he had arrived to launch the watchdog's annual report after months of civil unrest in the city. "I had hoped to spotlight Beijing's deepening assault on inter
Published 13 Jan, 2020 12:00am

Canada voices concern over Iran's arrest of British ambassador

Canada and several other countries with nationals killed in the shootdown of a civilian airliner called on Tehran Sunday to abide by its international commitments after Iranian authorities briefly arrested the British ambassador.
Published 13 Jan, 2020 12:00am

Iran Guards say missiles did not aim to kill US troops

Iran's Revolutionary Guards said Sunday they did not aim to kill US troops when firing a wave of missiles last week at Iraqi bases hosting American forces. "Our aim was not really to kill enemy soldiers. That was not important," the Guards' commander, Hos
Published 13 Jan, 2020 12:00am

Global Business Economy
Yuan bulls return on trade deal hopes

Bullish bets on the Chinese yuan scaled a near 10-month high with investors strengthening long positions on most Asian currencies, a Reuters poll showed, as prospects of an imminent Sino-US trade pact encouraged switches into riskier assets.
Published 13 Jan, 2020 12:00am

Money & Banking
Investors snap up Santander CoCo bond

Spain's largest bank Santander sold a 1.5 billion euro ($1.67 billion) CoCo bond on Thursday, its first since it shocked investors last February with its decision to not redeem a similar hybrid debt issue. It priced the CoCo, "callable" after six years, f
Updated 13 Jan, 2020 06:46am

Money & Banking
UK's watchdog wants overhaul of cash savings products

Britain's financial markets watchdog proposed an overhaul of cash saving products on Thursday designed to improve interest rates offered to long-standing customers. The Financial Conduct Authority (FCA) said last year that first-time customers for cash sa
Updated 13 Jan, 2020 06:48am

Stocks
Saudi Aramco raises IPO to record $29.4 billion through greenshoe option

State-owned oil company Saudi Aramco said on Sunday it has exercised its "greenshoe option" to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a then-record $2
Updated 13 Jan, 2020 06:48am

Stocks
Gulf stocks extend gains as US-Iran tension ease

All major Gulf stock markets opened higher on Sunday, extending their gains from the previous session, amid relief at no further escalation in tensions between Iran and the United States. Last week, US President Donald Trump backed away from days of angry
Updated 13 Jan, 2020 06:48am

Money & Banking
CEE currencies seen falling in 2020 as growth slows

The Czech crown's strong run to start 2020 is likely to reverse in the next month and the Hungarian forint will creep back toward record lows this year, a Reuters poll showed, as analysts see slowing economies weighing on central European currencies.
Updated 13 Jan, 2020 06:51am

Stocks
Left's Citron hedge fund posts 43 percent gain in first year

Andrew Left, who has long targeted companies that he thinks are over-valued through his work at Citron Research, told investors on Monday that his new hedge fund returned 43% after fees in 2019, its first year in business.
Published 13 Jan, 2020 12:00am

Global Business Economy
Beefed-up EU markets watchdog goes mystery shopping

The European Union's markets watchdog is to significantly expand its payroll to help crack down on investor rip-offs by going "mystery shopping". The European Securities and Markets Authority set out in its three-year strategic plan on Thursday how it wil
Published 13 Jan, 2020 12:00am

Stocks
CITIC poised to beat Goldman to become first China firm to lead Asia equity rankings

CITIC Securities looks set to become the first Chinese firm to top annual equity capital markets (ECM) rankings for Asia-Pacific excluding Japan this year, a nose ahead of Goldman Sachs, according to data from Refinitiv.
Published 13 Jan, 2020 12:00am

Money & Banking
Canadian dollar seen losing upside momentum

The Canadian dollar, last year's top-performing G10 currency, will shift into a sideways trading pattern this year as the domestic economy softens and the recent boost from easing trade tensions fades, a Reuters poll showed.
Published 13 Jan, 2020 12:00am

Stocks
Wall Street week ahead: As US election heats up, investors brace for volatility

A US stock market that has weathered trade wars, weak corporate earnings, and now a US-Iran conflict to continually hit record highs faces a new obstacle: the 2020 US election season.
Published 13 Jan, 2020 12:00am

Global Business Economy
Firms in China remain wary despite US trade deal

Washington and Beijing may be ready to sign a preliminary trade agreement, but companies in China are not taking any chances, forging ahead with contingency plans in case the tariff war resumes. As Chinese Vice Premier Liu He travels to Washington from Mo
Published 13 Jan, 2020 12:00am

Energy
Ethiopian PM asks South Africa to mediate Nile dam dispute

Ethiopian Prime Minister Abiy Ahmed on Sunday asked South Africa's President Cyril Ramaphosa to intervene in a long-running dispute with Egypt over a massive dam being built on the Blue Nile River. Ethiopia's ties to Egypt have soured since the east Afric
Published 13 Jan, 2020 12:00am

IT & Computers
Spanish delivery firm Glovo out to conquer the world

With an ambitious 27-year-old boss and a growing army of computer engineers, Spanish start-up Glovo is chasing international growth by expanding beyond food deliveries, despite criticism of the working conditions of its drivers.
Updated 13 Jan, 2020 07:53am

Energy
Abu Dhabi-based agency calls for clean energy investments to double

An international agency promoting clean energy called Sunday for investments in renewable energy projects to be more than doubled, redirecting funds from fossil fuels.
Published 13 Jan, 2020 12:00am

Money & Banking
Jack Ma, Grab eye Singapore digital bank battle

Singapore is opening up its banking industry to digital lenders in a reform that could shake up the sector across Southeast Asia, with Chinese billionaire Jack Ma and ride-hailer Grab among those seeking licences.
Published 13 Jan, 2020 12:00am

Energy
South Africa president vows to restore reliable power supply

South African President Cyril Ramaphosa on Saturday said the country's debt-laden power utility Eskom would not be privatised and pledged to restore it to full capacity. Rolling blackouts were implemented several times last year to prevent the grid collap
Published 13 Jan, 2020 12:00am

Global Business Economy
French transport strike drags on despite government compromise on pensions

A crippling French transport strike dragged into its 39th day on Sunday despite the government's offer to withdraw the most contested measure of the pension reform plans that sparked the protest.
Published 13 Jan, 2020 12:00am

IT & Computers
Private equity tries for the technology patriot premium

As private equity money earmarked for buying technology companies grows, targets are getting harder to find, at least in the United States. One solution is to create new ones.
Updated 13 Jan, 2020 07:29am

Money & Banking
UBS overhauls wealth business, cuts managers in big move under new boss

UBS is overhauling its flagship wealth management business, including shrinking its senior staff, in the first big strategic move under the division's new co-head Iqbal Khan as the bank looks to revive flagging profits.
Published 13 Jan, 2020 12:00am

Global Business Economy
Chinese government shell firms buy cash-strapped companies for first time

Local government shell companies in China bought into struggling privately run listed firms for the first time last year, veering from their typical remit of financing infrastructure projects to pump over $2 billion into cash-strapped businesses.
Published 13 Jan, 2020 12:00am

Money & Banking
Governments may get windfall as Swiss National Bank posts big profit

The Swiss National Bank plans to pay out 2 billion Swiss francs ($2.05 billion) - and possibly more - to Switzerland's federal and cantonal governments after swinging to a big 2019 profit, it said on Thursday. The SNB expects an annual profit of 49 billio
Published 13 Jan, 2020 12:00am

Money & Banking
Goldman Sachs answers investor demands on consumer bank

Goldman Sachs Group Inc unveiled details about its consumer business for the first time on Tuesday and will start disclosing its results regularly as part of a broader reporting-line shuffle, responding to long-standing requests for more transparency from
Published 13 Jan, 2020 12:00am

Stocks
London's new year IPO will buck sad 2019 trend

London's first listing of the new decade should fare better than those that brought the old one to a sorry end. Smart-meter supplier Calisen said on Thursday it would look to sell 300 million pounds of new shares, plus an unspecified volume of private equ
Published 13 Jan, 2020 12:00am

Global Business Economy
Musk launches Tesla SUV programme at new China factory

Elon Musk showed off striptease moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public.
Published 13 Jan, 2020 12:00am

Energy
Shell's New Energies boss Gainsborough to step down

Royal Dutch Shell's New Energies boss Mark Gainsborough will step down in April and be replaced by Elisabeth Brinton, who joined the business in 2018 and will oversee the company's plans to expand its low-carbon and power business.
Published 13 Jan, 2020 12:00am

Global Business Economy
Weak holiday sales at Kohl's, J.C. Penney spell more trouble for stores

Kohl's Corp and J.C. Penney Co Inc reported lower holiday season sales on Thursday, a sign that traditional brick-and-mortar retailers struggled to compete with record-breaking online shopping between Thanksgiving and New Year's Day.
Published 13 Jan, 2020 12:00am

Energy
Shareholders force Barclays to cut fossil fuel financing

A group of Barclays shareholders coordinated by responsible investment lobby group ShareAction want the bank to phase out financing fossil fuels, stepping up pressure on one of Europe's biggest funders of the sector.
Published 13 Jan, 2020 12:00am

China believes new virus behind mystery pneumonia outbreak

China believes a mysterious pneumonia outbreak that struck 59 people is caused by a new strain of virus from the same family as SARS, which killed hundreds of people more than a decade ago. Lead scientist Xu Jianguo told the official Xinhua news agency th
Published 13 Jan, 2020 12:00am

Genetic markers not very good for predicting disease risk

Many people worry about inheriting health problems from their parents, but a new approach to analyzing genetic contributions to disease risk suggests that for most diseases, commercial DNA tests are not the best way to assess the odds. For the study, rese
Published 13 Jan, 2020 12:00am

Teen drinking, drug use tied to other risky behaviours

Teens who binge drink or abuse prescription opioids may be more likely to engage in other risky behaviors, too, two new studies suggest. Adolescents who binge drink are more likely to drive drunk or ride with drivers who are under the influence in early a
Published 13 Jan, 2020 12:00am

AI matches human brain cancer diagnosis

An AI computer model can diagnose and identify 10 of the most common types of brain cancer with the same accuracy as human doctors, researchers said on Monday. More than 15 million people worldwide are diagnosed with cancer every year, and 80 percent of t
Published 13 Jan, 2020 12:00am

IT & Computers
AI-powered avatar at tech show touted as 'artificial human'

Avatars touted as "artificial humans" created a buzz Tuesday at the Consumer Electronics Show even as debate swirled on what exactly the digital entities were. Star Labs, a startup funded by Samsung, showed the painstakingly detailed AI-powered, two-dimen
Updated 13 Jan, 2020 07:24am

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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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

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