News Archives for Print - 2020-01-22

Print - 2020-01-22

PM Imran Khan meets US President Donald Trump in Davos

Prime Minister Imran Khan met US President Donald Trump, hours after arriving in Davos, Switzerland, on Tuesday to attend the World Economic Forum assembly scheduled from January 21 to January 24. The occasion marks the third time the two world leaders ha

Updated 22 Jan, 2020 05:41am

BP pulls out of Iraq's Kirkuk oilfield

British energy giant BP said on Tuesday it had ended its involvement in Iraq's giant Kirkuk oilfields and would now step away from the six-year venture.

Published 22 Jan, 2020 12:00am

Global Business Economy

First flight of Boeing's 777X set for Thursday: sources

Following months of delay on a plane under development, Boeing plans the first flight for its new long-range 777X on Thursday, two people with knowledge of the matter said Tuesday. The progress on the 777X comes as Boeing's broader prospects remain cloude

Published 22 Jan, 2020 12:00am

Stocks

PSX suffers further pruning: BRIndex100 extends losses

A bearish trend continued on Pakistan Stock Exchange Tuesday due to selling in various sectors. BRIndex100 lost 16.08 points or 0.36 percent to close at 4,469.56 points. BRIndex100 touched intraday high of 4,510.33 and intraday low of 4,435.87 points. Vol

Published 22 Jan, 2020 12:00am

Unemployment rate projection revised upward

International Monetary Fund (IMF) has upward revised the unemployment rate projection for Pakistan to 6.2 percent for 2020 against 6.1 percent in 2019. In the latest update to its World Economic Outlook, the IMF has projected inflation at 13 percent for 2

Published 22 Jan, 2020 12:00am

There's no wheat flour crisis: Punjab ministers

Punjab ministers on Tuesday claimed that there is no wheat flour crisis in the province. Addressing a press conference in Lahore on Tuesday, Punjab Minister for Information and Culture, Fayyaz-ul-Hassan Chohan said that there is no shortage of wheat acros

Published 22 Jan, 2020 12:00am

Pakistan, US for strong trade, investment relationship

Pakistan and the United States on Tuesday emphasized the need for a strong trade and investment relationship to advancing the shared vision for a long-term, broad-based and enduring partnership. The visiting US Acting Assistant Secretary of State for the

Published 22 Jan, 2020 12:00am

$1.799 billion procured from foreign commercial banks in 1H

The government procured $1.799 billion from foreign commercial banks (around 31 percent) out of total external loans of $5.782 billion in the first half (July-Dec) of 2019-20 and around 77 percent more than the comparable period of last year ($2.313 billi

Published 22 Jan, 2020 12:00am

Small businesses: Unnecessary licences to be done away with: BoI chief

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Tuesday said that Prime Minister Imran Khan during his visit to Switzerland will expose the true face of India before the international community.

Published 22 Jan, 2020 12:00am

Senate kicks off debate in Trump impeachment trial

US President Donald Trump's impeachment trial began in earnest in the Senate on Tuesday, with his chief legal defender attacking the case as baseless and a top Democratic lawmaker describing overwhelming evidence of wrongdoing. Democrats have called on th

Published 22 Jan, 2020 12:00am

Sikandar Sultan Raja named new CEC

The government and opposition on Tuesday named Sikandar Sultan Raja, a former top bureaucrat, as new chief election commissioner (CEC), ending the months long deadlock over the issue.

Published 22 Jan, 2020 12:00am

Five zero-rated sectors: Body to probe reasons for charging surcharges, taxes

National Assembly standing Committee on Commerce on Tuesday constituted a three-member sub-committee to probe the reasons for charging surcharges, taxes and positive fuel price adjustment (FPA) from five zero rated sectors.

Published 22 Jan, 2020 12:00am

Tax collection growth: Automation only solution: FBR chairman

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Tuesday described the existing taxation system as "extortionist" and said the FBR is collecting 90 percent taxes in the shape of withholding taxes and deduction at source while only 5 to 10 percent

Published 22 Jan, 2020 12:00am

AJ&K president meets COAS

Chief of Army Staff (COAS) General Qamar Javed Bajwa on Tuesday assured the Azad Jammu and Kashmir (AJ&K) President Sardar Masood Khan of Pakistan army's full support and commitment to the Kashmir cause and its people. According to a statement issued by t

Published 22 Jan, 2020 12:00am

CCI constitutes body to work out NHP solution

The Council of Common Interests (CCI) has constituted a committee comprising financial and technical experts to determine out of box solution for Net Hydel Profit (NHP) as at the present level of NHP's calculation circular debt will touch Rs 7 trillion by

Published 22 Jan, 2020 12:00am

Illegal assets case: LHC grants post arrest bail to Fawad Hassan

The Lahore High Court on Tuesday granted post-arrest bail to former principal secretary to Prime Minister Fawad Hassan Fawad in a reference of illegal assets. Fawad served on different posts during previous government of PML-N till the NAB arrested him on

Published 22 Jan, 2020 12:00am

NTC safeguarding interests of influential parties?

National Tariff Commission (NTC) is said to be safeguarding the interests of influential parties who have "good" ties in Commerce Ministry, well informed sources told Business Recorder.

Published 22 Jan, 2020 12:00am

Investigation against judge of superior court: SC will provide certain principles: Justice Bandial

The Supreme Court will provide certain principles regarding initiation of investigation against a judge of superior court under Article 209 of Constitution, said Justice Umar Ata Bandial.

Published 22 Jan, 2020 12:00am

Iran MP offers $3 million 'to anyone who kills Trump'

An Iranian lawmaker on Tuesday offered a $3-million reward to "anyone who kills" US President Donald Trump to avenge the assassination of a top general, semi-official news agency ISNA reported. Ahmad Hamzeh, a little-known member of the Majlis, made the o

Published 22 Jan, 2020 12:00am

MPS on 28th: Policy rate may be kept unchanged

The State Bank of Pakistan (SBP) will announce the monetary policy on January 28 for next two month. The Monetary Policy Committee (MPC) of the SBP will meet on Tuesday, (Jan 28) at the SBP Karachi for deliberations on economic indicators to take a decisi

Published 22 Jan, 2020 12:00am

Letters

Glacial melting threats

According to some media reports, the villagers of Hassanabad, Gilgit-Baltistan live in a constant fear. Above them, the vast Shisper glacier dominates the landscape, a river of jagged black ice moving towards them at a pace of four meters per day. Last ye

Published 22 Jan, 2020 12:00am

Articles

Apple dropped plan for encrypting backups after FBI complained

Apple Inc dropped plans to let iPhone users fully encrypt backups of their devices in the company's iCloud service after the FBI complained that the move would harm investigations, six sources familiar with the matter told Reuters.

Published 22 Jan, 2020 12:00am

Articles

Putting brokerage houses under financial strain

The Securities and Exchange Commission of Pakistan (SECP) has issued a notification recently for the change of Brokerage Regime for Capital Markets. Under the proposed regime SECP intends to increase the Capital and Net worth requirements of TC Holders ma

Published 22 Jan, 2020 12:00am

Articles

Limits of capitalism

The PTI-led coalition government that came to power about 17 months ago promising change (Tabdeli) has so far followed almost the same failed economic model that the successive governments, both civil and military, have been pursuing over the last 40 year

Published 22 Jan, 2020 12:00am

Calls for devolution of powers

It's Pakistan's lingering constitutional dilemma that votes are won by promising grassroots development and prosperity but once elected the power transits to higher echelons at the cost of grassroots, and thus promises to provide services at the doorstep

Updated 22 Jan, 2020 07:06am

Wheat crisis

Charges of mismanagement have dogged the Pakistan Tehreek-e-Insaaf (PTI) government soon after Imran Khan took oath as the country's 22nd prime minister on 18 August 2018 and thenceforth the country has been rocketed by a series of crises, sourced to: (i)

Updated 22 Jan, 2020 06:41am

PIM launches Management Excellence Award

Pakistan Institute of Management (PIM) has launched Pakistan Management Excellence Award (PMEA) aimed to elevate organizational performance and excellence in Pakistan and enhancing international competitiveness, investments, image, exports and economic in

Published 22 Jan, 2020 12:00am

Sanjrani for keeping Senate's current numerical strength intact

In a major development, Chairman Senate Sadiq Sanjrani has proposed to "keep the current numerical strength of the Senate intact and distribute eight seats of erstwhile FATA (Federally Administered Tribal Areas) among the four provinces by equally increas

Published 22 Jan, 2020 12:00am

President for improving ease-of-doing business

President Dr Arif Alvi on Tuesday said Pakistan as the world's sixth most human resource-rich country could make an economic turnaround by improving ease-of-doing business index and adapting trade techniques to meet global demands.

Published 22 Jan, 2020 12:00am

LNG scam: Khaqan's judicial remand extended till February 4

The Accountability Court on Tuesday extended judicial remand of former prime minister Shahid Khaqan Abbasi till February 4 in the liquefied natural gas (LNG) case.

Published 22 Jan, 2020 12:00am

Imran Farooq murder case: UK-based witnesses' statements to be recorded via video link

The Anti-Terrorism Court (ATC) hearing the Muttahida Quami Movement (MQM) leader Dr Imran Farooq murder case on Tuesday decided that statements of UK-based witnesses will be recorded via video link from February 3 to February 7 on daily basis.

Published 22 Jan, 2020 12:00am

Hearing of Maryam's plea adjourned

The Lahore High Court on Tuesday adjourned hearing of a petition filed by Maryam Nawaz seeking removal of her name from Exit Control List (ECL) till first week of February on the request of her counsel to prepare his arguments.

Published 22 Jan, 2020 12:00am

PPP, PML-N governments promulgated 170 presidential ordinances: IHC told

Federal Ministry of Law and Justice has informed the Islamabad High Court (IHC) that Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP) during their tenures promulgated 170 presidential ordinances.

Published 22 Jan, 2020 12:00am

30 firms evince interest to develop Dhabeji SEZ

As many as 30 national and internationally reputed companies have showed their keen interest to develop Dhabeji Special Economic Zone, which is a project of CPEC near Karachi at Dhabeji. It is to mention here that Sindh Special Economic Zones Management C

Published 22 Jan, 2020 12:00am

Thesis projects exhibition ends at SU

Artists disseminate message of love, peace and welfare through color, paint, image and sculpture. Artists also present a creative yet critical perspective on life.

Published 22 Jan, 2020 12:00am

Wheat flour crisis: SHC issues notices to federal, Sindh governments for February 7

A petition was filed in Sindh High Court (SHC) on Tuesday against the shortage of wheat, its smuggling and hoarding in the country. A division bench of the SHC headed by Justice Muhammad Ali Mazhar issued the notices to Federal and Sindh Governments for F

Published 22 Jan, 2020 12:00am

TPL's container tracking services from Gwadar Port begins

TPL Trakker Limited, a wholly owned subsidiary of TPL Corp and Pakistan's first IoT Company, has commenced container tracking services from Gwadar Port, serving as a catalyst for China-Pakistan Economic Corridor's (CPEC) cargo movement. This is in line wi

Updated 22 Jan, 2020 12:51pm

Taxes

Massive sales tax refund 'fraud' detected

Regional Tax Office (RTO)-II, Karachi has detected a massive sales tax refund "fraud" amounting to around Rs 230 million, purportedly committed through three fake companies against flying invoices in connivance with FBR officials.

Published 22 Jan, 2020 12:00am

Bilawal opens 100MGD pumping station at Dhabeji

Pakistan People's Party Chairman Bilawal Bhutto Zardari Tuesday inaugurated 100 MGD new pumping station at Dhabeji. Sindh Chief Minister Syed Murad Ali Shah while giving briefing on the occasion said the whole machinery of this pumping station, including

Published 22 Jan, 2020 12:00am

FCCI voices concern over soaring food items' prices

Rana Sikandar-e-Azam Khan President Faisalabad Chamber of Commerce & Industry (FCCI) has expressed concern over inflation and increase in food related items. In a statement, he said the prime minister is also concerned over this situation and has immediat

Published 22 Jan, 2020 12:00am

Two mills sealed for black-marketing flour

District administration, Peshawar sealed and suspended the wheat quota of two flour mills over the selling of official flour in black market. On the directives of Deputy Commissioner (DC), Mohammad Ali Asghar, the Assistant Commissioner (AC), Shah Alam, D

Published 22 Jan, 2020 12:00am

Money & Banking

Western Union money transfer services launched

Western Union, a leader in cross-border, cross-currency money movement and payments, and MCB Bank, one of the leading banks in Pakistan, on Tuesday announced the launch of Western Union(r) money transfer services across over 1,400 MCB Bank branches in bot

Published 22 Jan, 2020 12:00am

Government fails to check sky-high flour prices

As the nanbais (bread makers) continue on second consecutive day on Tuesday, the flour price has skyrocketed up to Rs70-75 per kg in Khyber Pakhtunkhwa while putting tremendous burden on the general public as government failed to control the inflationary

Published 22 Jan, 2020 12:00am

Energy

Byco becomes first company to export HSFO

Byco Petroleum Pakistan Ltd has become the first company in Pakistan to export High Sulfur Furnace Oil (HSFO). This is potentially a solution to the long-standing problem that Pakistan's domestic refineries have faced since the country's fuel mix has evol

Published 22 Jan, 2020 12:00am

Energy

Punjab and Sindh: APCNGA demands non-stop operation of CNG stations

All Pakistan CNG Association (APCNGA) on Tuesday said that reopening of CNG stations in Punjab and Sindh for 12 hours is not acceptable and they should be opened for round-the-clock service. CNG stations in Punjab and Sindh have not worked even for forty

Published 22 Jan, 2020 12:00am

Taxes

Federation can't levy health tax on tobacco consumption: FBR

The Federal Board of Revenue (FBR) said Tuesday that the health is a provincial subject and federation cannot levy health tax on tobacco consumption. According to the FBR's clarification issued here on Tuesday, the issue of Health levy on tobacco consumpt

Published 22 Jan, 2020 12:00am

Senate panel defers 'The National Highways Safety (Amendment) Bill, 2019'

Senate Standing Committee on Communication on Tuesday deferred a bill titled 'The National Highways Safety (Amendment) Bill, 2019' which is likely to be discussed in the presence of minister for communication and secretary communication in the next meetin

Published 22 Jan, 2020 12:00am

Yet another deadline fixed for Peshawar's BRT project

Khyber Pakhtunkhwa government Tuesday sets June 30. 2020 deadline for completion of the under-construction multibillion Bus Rapid Transport (BRT) project in Peshawar. This time the deadline was announced by the KP Minister for Transport, Shah Muhammad and

Published 22 Jan, 2020 12:00am

Energy

KP to get Rs 8.5 billion under NHP head: minister

Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Jhagra has said that the federal government has agreed upon expediting the payment of Rs 8.5 billion dues for Malakand-III and Pehur Hydropower projects. This breakthrough was made in a meeting between

Published 22 Jan, 2020 12:00am

Stocks

B/S/H calls and TP projections: SECP appellate bench dismisses IRA's appeal

The Buy/Sell/Hold (B/S/H) or projecting a Target Price (TP) of certain securities listed on Pakistan Stock Exchange (PSX) was not done merely for education purposes, but it was a research report to determine and influence the investment decisions of the i

Published 22 Jan, 2020 12:00am

Automobile making companies may adjust input tax

The automobile manufacturing companies, listed on Pakistan Stock Exchange (PSX), may adjust input tax to the extent of 95 percent of the output tax for that tax period and excess amount shall be carried forward to next tax period. The Federal Board of Rev

Published 22 Jan, 2020 12:00am

PSM BoD decides to expand revival team

Pakistan Steel Mills' Board of Directors(BoD) has decided to expand revival team by inclusion of new members at top management level, including Chief Executive Officer (CEO) and Chief Financial Officer (CFO).

Published 22 Jan, 2020 12:00am

Factory producing fake chocolates sealed

The Punjab Food Authority (PFA) on Tuesday sealed a factory producing fake chocolate of several popular brands and confiscated 5,000 kg material while carrying out a raid against counterfeiters in Fazlia Colony Loha Bazaar.

Published 22 Jan, 2020 12:00am

SC rejects Arshad Malik's appeal

The Supreme Court on Tuesday allowed Pakistan International Airlines (PIA) Board to run the affairs of national flag carrier and also the functions of its chief executive officer (CEO)/chairman.

Published 22 Jan, 2020 12:00am

Malaysian leadership's firm stance on Kashmir issue lauded

President of Azad Jammu and Kashmir (AJ&K) Sardar Masood Khan while lauding the role of Malaysian people and the government led by Prime Minister Mahathir Mohamad for all-out support to the people of Jammu and Kashmir in the aftermath of August 5, 2019 ha

Published 22 Jan, 2020 12:00am

HACPL launches Honda VTEC TURBO Oriel-2020

Honda Atlas Cars Pakistan Limited (HACPL) launched its differentiated variant of the 10th generation Honda Civic. This new Civic variant is an addition to the Turbo line Civic offerings. Being tagged as Honda VTEC TURBO Oriel, the new Civic Oriel Turbo no

Published 22 Jan, 2020 12:00am

'Locust swarm reaches to Sahiwal, Vehari and Arifwala'

Locust swarm has reached to Sahiwal, Vehari and Arifwala but the government has done nothing to control it which has till date destroyed crops standing over thousands of acres of land in the country.

Published 22 Jan, 2020 12:00am

Energy

Petroleum Division rejects news about lobbies against TAPI gas line

The Petroleum Division (PD) Tuesday rejected a news item titled "Lobbies become active against Turkmenistan Afghanistan Pakistan India (TAPI) gas pipeline," which appeared in a section of the press on January 18.

Published 22 Jan, 2020 12:00am

ATP slams PTI government over flour crisis, soaring power, gas tariffs

Chairman, Amun Taraqqi Party (ATP), Muhammad Faiq Shah termed the impending flour, sugar crisis in the country and gradual increase in electricity and gas tariffs as worst incompetence of the incumbent PTI led government.

Published 22 Jan, 2020 12:00am

JICA offers to establish 50 girls' schools in Sindh

The Japan International Cooperation Agency (JICA) has offered to extend assistance to the provincial government in various sectors including establishing fifty girls' schools in Sindh.

Published 22 Jan, 2020 12:00am

Met office warns farmers against pests' attacks

Pests may plague standing crops, as the Met Office warned the farmers of the threat, asking them to step up protection amid frosting weather in the country.

Published 22 Jan, 2020 12:00am

Energy

Omar stresses need for making N-S Gas Pipeline project financially viable

A Russian delegation headed by Russia's Deputy Energy Minister Anatoli Tikhinov held a bilateral meeting with Minister for Energy Omar Ayub Khan and Nadeem Babar, Special Assistant to Prime Minister on Petroleum, here on Tuesday. The visiting delegation i

Published 22 Jan, 2020 12:00am

Ratio of women in country's legislatures declines: WISE moot told

"Women political participation plays pivotal role in deepening democracy. Over the last two decade huge steps have been made towards greater female political representation at global level. A few countries have even crossed the 50% share of women represen

Published 22 Jan, 2020 12:00am

PHEC warns against offering unapproved courses

The Accreditation Committee of the Punjab Higher Education Commission recommended that the private sector Higher Education Institutes (HEIs) offering un-approved programmes should be fined Rs 5 million per programme per year.

Published 22 Jan, 2020 12:00am

Punjab utilises Rs 106 billion on different ADP projects

Different provincial departments have utilized Rs106 billion on different annual development schemes (ADP) schemes and an amount of Rs183 billion have been released till January 17, 2020.

Published 22 Jan, 2020 12:00am

Production orders of Hamza, Salman issued

Speaker Punjab Assembly Chaudhry Pervaiz Elahi has issued production orders of opposition leader in Punjab assembly Hamza Shahbaz and Khawaja Salman Rafique MPAs.

Published 22 Jan, 2020 12:00am

Sarwar vows to give prosperous Pakistan to next generations

Emphasizing the need for unity in Pakistan, Punjab Governor Chaudhry Mohammad Sarwar Tuesday expressed resolve to give a peaceful, economically strong and prosperous Pakistan coming generations.

Published 22 Jan, 2020 12:00am

FTA-II with China to help reduce trade imbalance: Wang Jian

Commercial and Business Counselor of the Chinese Embassy Wang Jian said that second phase of Free Trade Agreement with China will be helpful in reducing the trade imbalance between Pakistan and China.

Published 22 Jan, 2020 12:00am

PMIC provides Rs 800 million Tier 2 facility to FINCA Microfinance Bank Pakistan

Pakistan Microfinance Investment Company Limited (PMIC) is a wholesale finance entity and an important pillar of National Financial Inclusion Strategy of Pakistan. It focuses on promoting poverty alleviation initiatives through Microfinance organisations

Published 22 Jan, 2020 12:00am

Officials directed to monitor wheat flour's supply to mills

Punjab Industries and Trade Minister Mian Aslam Iqbal on Tuesday directed the concerned officials to monitor the process of supply of wheat to flour mills, preparation of flour and its supply to the markets.

Published 22 Jan, 2020 12:00am

LCCI chief proposes steps to boost exports

To enhance Pakistan's export competitiveness all raw materials for export oriented industries must be zero or low Custom Duties. Government must eliminate Regulatory Duties (RD) and Additional Custom Duty (AD) on Raw materials, so that local industry is a

Published 22 Jan, 2020 12:00am

Money & Banking

BankIslami partners with IMC

BankIslami Pakistan Limited, one of the leading Islamic banks of Pakistan with a network of more than 330 branches in over 114 cities, signed an agreement with Indus Motor Company Limited (IMC), the exclusive manufacturer of Toyota vehicles in Pakistan en

Published 22 Jan, 2020 12:00am

Articles

Partly Facetious : 'Wasim Akram Plus'

"There is really something plus about Wasim Akram."

Published 22 Jan, 2020 12:00am

Energy

PSO, Uber sign partnership accord

PSO and Uber have entered into a strategic partnership. Ghulam Murtaza Shaikh, Deputy General Manager, Cards and NFR Division, PSO, and Omar Askari, Head of Business Development, Uber, signed the strategic agreement for fuel management solution to Uber dr

Published 22 Jan, 2020 12:00am

PSQCA, PCSIR: Senate body takes notice of pending service matters, court cases

The Senate Standing Committee on Science and Technology on Tuesday took serious notice of the increased number of pending service matters and court cases related to Pakistan Standard and Quality Control Authority (PSQCA) and Pakistan Council for Scientifi

Published 22 Jan, 2020 12:00am

Energy

Circular debt, capacity payment: Senate panel for integrated energy system to tackle issues

Terming the circular debt and capacity payment as primary challenges to the power sector as well as economy, the Senate Standing Committee on Power unanimously underlined the need for developing an integrated energy system to deal with these issues.

Published 22 Jan, 2020 12:00am

Brief Recordings

PACE Pakistan Limited

PACE Pakistan Limited (PSX: PACE) was established in 1992 and is a public limited company. It is engaged in the business of acquiring, developing, selling and managing real estate assets such as condominiums, departmental stores, shopping plazas, super ma

Updated 22 Jan, 2020 06:35am

US urges China to join nuclear arms talks

Washington called Tuesday on Beijing to join its nuclear arms talks with Moscow, warning that lack of transparency around China's growing weapons stockpile posed a "serious threat". The United States and Russia have held two rounds of talks aimed at reduc

Published 22 Jan, 2020 12:00am

Trump tears into environmental 'doom' mongers at Davos forum

President Donald Trump tore into environmental "prophets of doom" at the Davos forum Tuesday, rejecting fiery warnings from teenage campaigner Greta Thunberg and talking up his own record in a counterpoint to impeachment back home.

Published 22 Jan, 2020 12:00am

Putin keeps key ministers in new Russian government

Russian President Vladimir Putin appointed a new government on Tuesday, less than a week after he announced sweeping constitutional reforms and his longtime prime minister resigned. Putin, who said there was a "demand for change" in his announcements last

Published 22 Jan, 2020 12:00am

Russian air strikes in Syria kill 23 civilians

Russian air strikes killed at least 23 civilians Tuesday in northwestern Syria, as renewed violence tightened the noose around the country's last major rebel-held bastion and deepened an already dire humanitarian crisis.

Published 22 Jan, 2020 12:00am

Asia steps up checks as China virus kills six, infects more than 300

Asian countries on Tuesday ramped up measures to block the spread of a new virus as the death toll in China rose to six and the number of cases surpassed 300, raising concerns in the middle of a major holiday travel rush. Nations across the Asia-Pacific r

Published 22 Jan, 2020 12:00am

Turkey blocks Cyprus from world disarmament body session

Turkey blocked a request from Cyprus on Tuesday to participate as an observer at the Conference on Disarmament in Geneva, amid growing tensions between the two countries. Cyprus was one of a long line of countries to request the right to serve as observer

Published 22 Jan, 2020 12:00am

Prince Harry starts new life with Meghan in Canada

Prince Harry was spending the first full day of his new life in Canada on Tuesday after jetting in from Britain to join his wife Meghan following their shock exit from their royal roles.

Published 22 Jan, 2020 12:00am

US military claimed 'success' in hacking ISIS

The US military claims to have "successfully" disrupted the online propaganda efforts of the Islamic State in a hacking operation dating back at least to 2016, according to declassified national security documents released Tuesday.

Published 22 Jan, 2020 12:00am

Stocks

Gulf markets dither early on, Aramco weighs on Saudi index

Major Gulf stock markets moved sideways early on Tuesday, with financials and energy stocks weighing on Saudi Arabia and real estate shares underpinning Dubai's index. Saudi's benchmark index dropped 0.4% with state-owned Saudi Aramco shedding 0.6% and Al

Published 22 Jan, 2020 12:00am

Stocks

Hong Kong tourism-linked stocks fall

Tourism-linked stocks sank in Hong Kong on Tuesday with investors spooked by confirmation that a deadly virus in China can be transmitted between humans, while confidence was also hit by Moody's decision to downgrade the city's credit rating.

Published 22 Jan, 2020 12:00am

Stocks

Nikkei slumps on China virus fears

Japanese shares dropped on Tuesday, as investors were gripped by fears that an outbreak of a new coronavirus in China could potentially disrupt an improving economic backdrop following a US-China trade deal.

Published 22 Jan, 2020 12:00am

Stocks

Tuesday's early trade: S&P loses ground amid China virus outbreak, growth fears

The benchmark S&P 500 slipped on Tuesday as worries about the fallout from a deadly virus outbreak in China and a gloomy growth outlook from the IMF prompted investors to lock in recent gains.

Published 22 Jan, 2020 12:00am

Stocks

Indian shares settle lower

Indian shares ended lower for a second straight session on Tuesday, as a string of weak earnings reports and a cut in the International Monetary Fund's (IMF) growth forecast for the country weighed on sentiment. The NSE Nifty 50 index ended 0.45% lower at

Published 22 Jan, 2020 12:00am

Stocks

Southeast Asian stocks: Singapore drops, Philippines extends losses

Singapore's benchmark index fell on Tuesday, tracking broader Asian markets, as a virus outbreak in China took a toll on risk appetite, while Philippines was hit by losses in the financial sector.

Published 22 Jan, 2020 12:00am

Stocks

German government bond yield bounces back

A better-than-expected investor sentiment reading reversed a slide in Germany's 10-year government bond yield on Tuesday, after a virus outbreak in China had put investors in a risk-off mood. The ZEW research institute said its monthly survey showed econo

Published 22 Jan, 2020 12:00am

Stocks

China's stocks hit two-week trough, yuan crumbles

China shares fell to their two-week lows and the yuan headed for its worst day in five-months on Tuesday on mounting worries about the spread of a new virus that has killed four people so far in the country.

Published 22 Jan, 2020 12:00am

Stocks

European shares fall

European shares dipped on Tuesday amid concerns over a new coronavirus outbreak originating in China, although positive news on business morale and easing cross-Atlantic trade tensions saw markets ending off session lows.

Published 22 Jan, 2020 12:00am

Stocks

Australian shares down, New Zealand gains

Australian shares snapped their record-breaking run over five sessions on Tuesday as investors booked profits, while increasing concerns over a new strain of coronavirus in China dragged down travel and tourism-related stocks.

Published 22 Jan, 2020 12:00am

Stocks

FTSE has worst day in two weeks on China virus, weak oil

London's FTSE 100 suffered its worst day in two weeks on Tuesday as the spread of a new coronavirus in China curbed risk appetite and oil prices fell sharply, while jobs data eased some bets of an imminent interest rate cut by the Bank of England.

Published 22 Jan, 2020 12:00am

Money & Banking

Russian rouble shrugs off government shake-up

The Russian rouble shrugged off Tuesday's announcement of Russia's new cabinet, as President Vladimir Putin's proposed shake-up saw many former ministers stay in their posts. The rouble remained weaker against the dollar on the day against a background of

Published 22 Jan, 2020 12:00am

Money & Banking

Sterling holds near day's highs

The pound held near the day's highs on Tuesday after the British economy created jobs at its strongest rate in nearly a year in the three months to November, potentially undermining the case for a Bank of England interest rate cut next week.

Published 22 Jan, 2020 12:00am

Money & Banking

Australian, NZ dollars slip amid China flu concerns

The Australian and New Zealand dollars slipped on Tuesday as the market mood turned cautious amid mounting concerns a coronavirus outbreak in China could cause economic damage if it spreads widely. The Aussie eased 0.26% to $0.6854, having been steady all

Published 22 Jan, 2020 12:00am

Money & Banking

Yen rises, yuan slumps in Asia

The yen pulled ahead and the yuan fell against the dollar on Tuesday as the spread of a pneumonia-like virus in China sparked a sudden bout of risk aversion and sent Asian stocks skidding. The yuan slipped against the US currency in onshore and offshore t

Published 22 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 23	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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