News Archives for Print - 2020-01-29

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Print - 2020-01-29

Stocks

KSE-100 Index reeling: BRIndex30 suffers erosion

A bearish trend continued on Pakistan Stock Exchange on the second consecutive day due to selling in various sectors.

Updated 29 Jan, 2020 08:14am

Arab League to hold urgent meeting

The Arab League said it will convene an urgent meeting on Saturday in response to US President Donald Trump's Israeli-Palestinian peace plan. Hossam Zaki, the pan-Arab body's deputy secretary, told reporters Tuesday that Palestinian president Mahmud Abbas

Published 29 Jan, 2020 12:00am

Palestinians reject Trump peace plan

Palestinian leaders on Tuesday rejected US President Donald Trump's peace proposal as an unacceptable capitulation to Israel that tramples on the long-standing aspirations of their people. Palestinian president Mahmud Abbas vowed the initiative unveiled i

Published 29 Jan, 2020 12:00am

Trump unveils Mideast plan, 'last opportunity' for Palestinians

President Donald Trump Tuesday unveiled long-awaited details of a US plan for solving the Israeli-Palestinian conflict, warning it may represent the last chance at statehood for the Palestinians. "Today, Israel takes a big step towards peace," Trump told

Published 29 Jan, 2020 12:00am

Power sector woes: Circular debt, capacity payment identified as major issues

The National Assembly Standing Committee on Power Division has termed over Rs1.6 trillion circular debt and rapidly increasing capacity payment charges as major issues of power sector, which are having profound impact on the sector and consumers.

Published 29 Jan, 2020 12:00am

RLNG plants, OGDCL transactions: PC shortlists potential buyers, FAs

Privatization Commission (PC) has shortlisted 12 potential buyers for due diligence for sale of two Re-gasified liquefied natural gas (RLNG) fired power plants and financial advisors (FAs) for divestment of shares of Oil and Gas Development Company Limite

Published 29 Jan, 2020 12:00am

Brokers, insurance companies and NBFCs: SECP tightens anti-money laundering regime

To further strengthen anti-money laundering regime, the Securities and Exchange Commission of Pakistan (SECP) has directed the securities brokers, futures brokers, insurance companies, Takaful operators, NBFCs and Modarabas to identify beneficial owners o

Published 29 Jan, 2020 12:00am

US 'disappointed' by decision

The United States is "disappointed" by London's decision to approve plans to use technology from Chinese telecoms giant Huawei in the country's 5G cellular network, a US official said Tuesday. "There is no safe option for untrusted vendors to control any

Published 29 Jan, 2020 12:00am

UK approves restricted Huawei role in 5G network

Britain on Tuesday greenlighted a limited role for Chinese telecoms giant Huawei in the country's 5G network, but underscored that "high risk vendors" would be excluded from "sensitive" core infrastructure. London's decision, following a meeting of the Na

Published 29 Jan, 2020 12:00am

Decline in cotton output to cost farmers $6 billion, NA panel told

Decline in production of cotton by five million bales in the current year will cost farmers $6 billion, a parliamentary panel was informed Tuesday. This was revealed before the National Assembly Standing Committee on Science and Technology, which met with

Published 29 Jan, 2020 12:00am

Reduction in urea price notified

Petroleum Division on Tuesday notified reduction in the price of urea in proportion to reduction in Gas Infrastructure Development Cess (GIDC). In the notification, it has been stated that federal cabinet approved on Tuesday reduction in GIDC on gas consu

Published 29 Jan, 2020 12:00am

Cabinet decides to recover billions of rupees 'illegally spent' by ex-PMs, CMs: PM briefed about food security

Prime Minister Imran Khan on Tuesday vowed that the mafia, including profiteers and hoarders, responsible for inflation and price hike in the country would be taken to task. At the outset of Federal Cabinet's meeting, the prime minister said every possibl

Published 29 Jan, 2020 12:00am

SBP keeps policy rate unchanged at 13.25 percent

The Monetary Policy Committee (MPC) on Tuesday decided to keep the policy rate unchanged at 13.25 percent for next two months as the inflation outlook is remained unchanged. Governor State Bank of Pakistan (SBP) Dr. Reza Baqir announced the decision at a

Published 29 Jan, 2020 12:00am

Export-oriented industrial development: SBP to provide additional concessional financing

In order to promote export oriented industrial development, the State Bank of Pakistan (SBP) has announced that it would provide additional concessional financing of Rs.200 billion - Rs. 100 billion under Long Term Financing Facility (LTFF) and Rs. 100 bi

Published 29 Jan, 2020 12:00am

Foreign exchange reserves: Government mulling launching bonds

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir has said that Pakistan is planning to launch bonds in international market to build up foreign exchange reserves. Addressing the monetary policy press conference here on Tuesday, he talked about the mas

Published 29 Jan, 2020 12:00am

Cabinet briefed on reforms progress: SBP autonomy: government to amend laws by September

Islamabad plans to amend existing laws by September 2020 to further strengthen the institutional autonomy, governance and mandate of the State Bank of Pakistan. The latest progress report on institutional reforms has laid out timelines for pending reforms

Published 29 Jan, 2020 12:00am

Japan sends plane to virus-hit Wuhan to evacuate citizens

Japan sent a first plane to the Chinese city of Wuhan on Tuesday night to evacuate citizens from the epicentre of a deadly virus outbreak, a foreign ministry official said. The plane left around 8:00 pm (1100 GMT), the official confirmed and was expected

Published 29 Jan, 2020 12:00am

Dawar, others detained

Authorities on Tuesday detained a senior member of a civil rights movement as he protested the detention of his group's leader one day earlier, a police official said. Mohsin Dawar, a sitting parliamentarian, was leading a demonstration in Islamabad of ar

Published 29 Jan, 2020 12:00am

Sindh Water Commission dissolved by SC

The Supreme Court on Tuesday dissolved Sindh Water Commission and its secretariat with directives to submit quarterly report to the court regarding implementation on commission's recommendations. The court also clubbed the Sindh Coal Authority Karachi cas

Published 29 Jan, 2020 12:00am

Second phase CPEC projects: Ministries asked to set targets, timelines

Prime Minister Imran Khan directed all the relevant ministries on Tuesday to set targets and timelines for timely completion of the second phase projects of social and economic development under the China-Pakistan Economic Corridor (CPEC)

Published 29 Jan, 2020 12:00am

Bank of China pays France 3.9 million euros to settle fraud probe

One of China's top banks has agreed to pay 3.9 million euros ($4.3 million) to settle a fraud probe in France, the authorities said Tuesday. The Bank of China confirmed the agreement, saying: "This principally concerns fund transfer activities of a Bank o

Published 29 Jan, 2020 12:00am

Ahad Cheema granted bail in housing scheme case

The Lahore High Court on Tuesday granted bail to former director general of Lahore Development Authority Ahad Cheema in LDA-City housing scheme case. The court also adjourned hearing of Cheema's petitions for bail in Ashiana and assets cases for further a

Published 29 Jan, 2020 12:00am

11 die as perfume-manufacturing factory catches fire

At least 11 people including five members of a family died while two others sustained injuries after the roof of a two-storey perfume factory collapsed due to explosion of some gas cylinders in Shahdara locality, police and rescuers said on Tuesday.

Published 29 Jan, 2020 12:00am

Letters

India no longer republic

This is apropos a Business Recorder editorial "India's Republic Day: India no longer republic" carried by the newspaper yesterday. The newspaper has argued, among other things, that "As of today, India is no more a republic. Under Narendra Modi Ind

Published 29 Jan, 2020 12:00am

Articles

Virus crisis adds pressure on slowing Chinese economy

Cinemas empty, high-speed train trips cancelled, tourist sites closed, an entire province shut down: The extraordinary measures taken by China to contain a deadly coronavirus threaten to dent an already fragile economy.

Published 29 Jan, 2020 12:00am

Articles

Trade deficit - an equitable analysis

Trade deficit is good if it generates the required value addition within an economy, and results in a good exploitation of trade through productive investments that enhance the industrial sector's capacity for future consumption and productivity. As a res

Published 29 Jan, 2020 12:00am

Why ban it?

A work of creative expression has been suspended just because it does not sit right with the interests of a self-styled religious group. According to reports, the film "Zindagi Tamasha" made by the renowned director, Sarmad Khoosat, was set to be released

Updated 29 Jan, 2020 05:43am

No lessons learnt?

Prime Minister Imran Khan's launch of the Kamyab Jawan Programme (KJP) in Karachi, a title that presupposes success though one would hope that an independent evaluation/assessment of the programme be carried out in time to fine-tune and/or amend it to max

Updated 29 Jan, 2020 05:43am

Behka Syedan village in Sector F-11: SC directs CDA to ensure compensation to 92 affectees

The Supreme Court on Tuesday directed Capital Development Authority (CDA) to ensure compensation to 92 affectees of Behka Syedan village, which is located in the centre of Sector F-11. A three-member judge bench headed by Justice Umar Ata Bandial heard th

Published 29 Jan, 2020 12:00am

Taxes

Annual report presented to CM: SRB recovers Rs100bn in 2018-19

Sindh Revenue Board (SRB) collected Rs 100 billion, including Rs 7.13 billion Sindh Workers Welfare Fund and Sindh Companies Profits (Workers' Participation) despite impending collection deficit. This has been disclosed in the SRB annual report, 2018-19,

Published 29 Jan, 2020 12:00am

NA panel recommends: Purchase of Allama Iqbal's Cambridge residence be accorded least priority

A National Assembly panel, endorsing Rs6,305.519 million budgetary proposals for 2020-21, on Tuesday asked Ministry of Foreign Affairs to keep purchasing of Dr Allama Mohammad Iqbal's residence in Cambridge at least priority due to the austerity measures

Published 29 Jan, 2020 12:00am

Money & Banking

Dr Syed assumes charge of SBP deputy governor

Dr. Murtaza Syed has assumed responsibilities of Deputy Governor of the State Bank of Pakistan with effect from January 27, 2020. He was appointed as Deputy Governor of the State Bank of Pakistan by the Federal Government for a period of three years, in p

Published 29 Jan, 2020 12:00am

Ghani greets MQM's workers on joining PPP

Sindh Minister for Information, Archives and Labour Saeed Ghani while welcoming the workers of the MQM for joining Pakistan People's Party said that important figures of the metropolitan would also join the PPP soon.

Published 29 Jan, 2020 12:00am

Baldia Town Factory, Uzair Baloch cases: SHC orders to make JITs' reports public

Sindh High Court (SHC) on Tuesday ordered to make Joint Investigation Reports (JITs) to investigate cases of Baldia Town Fire Factory and Uzair Baloch public.

Published 29 Jan, 2020 12:00am

Taxes

FBR issues list of vendors providing POS

The Federal Board of Revenue (FBR) Tuesday issued list of vendors who have provided point of sale (POS) software to those retailers who have integrated their POS software with the FBR. The FBR's list of POS software vendors revealed names and contacts of

Updated 29 Jan, 2020 08:14am

Solutions proposed to boost emergency preparedness in schools

Students, teachers, engineers and experts from a variety of fields gathered to design cost-effective and locally-relevant solutions to enhance the ability of schools to manage natural and man-made disasters, during a three-day hackathon at Aga Khan Univer

Published 29 Jan, 2020 12:00am

Energy

Asad Ali Shah Jilani appointed director K-Electric

Syed Asad Ali Shah Jilani has been appointed as Director K-Electric with effect from January 27, 2020. The power utility has informed Pakistan Stock Exchange (PSX) here on Tuesday. The appointment was made in place of casual vacancy occurred due to the re

Published 29 Jan, 2020 12:00am

Body to be formed for effective implementation of advertising policy: PIO

Council of Pakistan Newspaper Editors (CPNE) has said that all former governments had obliged only a few big media groups while ignoring local and regional newspapers. Advertising policy should be formulated in consultation with stakeholders and the same

Published 29 Jan, 2020 12:00am

IBMS produced 100 MPhil in nine years: DUHS VC

Vice Chancellor of Dow University of Health Sciences, Prof Mohammed Saeed Quraishy has said that the Institute of Biomedical Sciences has prepared 100 MPhil students in a short span of 9 years who are using their skills abroad and at various institutions

Published 29 Jan, 2020 12:00am

Money & Banking

Meezan Bank announces partnership with Bookme.pk

Meezan Bank Limited has announced partnership with Bookme.pk for the provision of e-ticketing services through its mobile & digital channels. Meezan Bank has recently entered into a partnership deal with Bookme.pk that helps customers buy bus, airline and

Published 29 Jan, 2020 12:00am

Energy

Pepco asks Lesco to verify engineers' degrees

Pakistan Electric Power Company (PEPCO) has issued directions for verification of degrees of engineers in order to regulate them in BPS-17, said sources. PEPCO has asked the Higher Education Commission to verify the degrees of all the engineers recruited

Published 29 Jan, 2020 12:00am

Business & Economy

FCCI boasts of identifying 'mafia' in Customs department

All mafias have been eliminated from the custom department on the specific identification of Faisalabad Chamber of Commerce & Industry (FCCI) resulting in minimizing cases of alleged harassment of business community and traders.

Published 29 Jan, 2020 12:00am

IT & Computers

NIC creates over 5,000 jobs, generates over Rs 500 million investment

The National Incubation Center (NIC) - a partnership among Ministry of Information Technology and Telecommunications, Ignite, Jazz and Teamup - graduated its third and fourth cohort of thirty-two innovative tech startups, creating over 5,000 jobs, besides

Published 29 Jan, 2020 12:00am

Senate penal approves GI (Registration and Protections) Bill, 2019

Senate Standing Committee on Commerce on Tuesday approved the longstanding Geographical Indications (GI) (Registration and Protections) Bill, 2019 meant to promote "Made in Pakistan" products and prevent Pakistani products from being usurped.

Published 29 Jan, 2020 12:00am

Promotions in P&D department

A meeting of the departmental promotion Committee-I of Planning & Development Department, Sindh was held on Tuesday under the chairmanship of the Chairman Planning & Development Board, Sindh.

Published 29 Jan, 2020 12:00am

SC orders Railways minister to submit business plan

With directives to submit a business plan within two weeks, Chief Justice of Pakistan Justice Gulzar Ahmed on Tuesday grilled Minister for Railways Sheikh Rashid Ahmed for his failure to revamp the state-owned train system which is in a state of utter dec

Published 29 Jan, 2020 12:00am

IHC stays auction of Dar's property

The Islamabad High Court on Tuesday stayed the auction for former finance minister Ishaq Dar's property in Gulberg, Lahore. A division bench comprising Chief Justice Athar Minallah and Justice Lubna Saleem Pervaiz heard an appeal of ex-minister's wife Tab

Published 29 Jan, 2020 12:00am

SC seeks details of residences illegally occupied by government officials

After no respite in illegal occupation of official residence by politically-connected government officials in the federal capital, the Supreme Court on Tuesday sought details of residences occupied by government officials.

Published 29 Jan, 2020 12:00am

Business & Economy

Officer of limited liability partnership: SECP warns against assistance, funding to proscribed entities

The Securities and Exchange Commission of Pakistan (SECP) Tuesday prohibited every partner/officer of a limited liability partnership from providing any assistance and funding including charity/donation to the entities and individuals listed under the con

Published 29 Jan, 2020 12:00am

ATP chief slams government for raising utilities' charges

Chairman, Amun Taraqqi Party (ATP), Muhammad Faiq Shah has said the poor masses were being squeezed as the prices of utilities had gone through the roof. Briefing media persons after a meeting regarding incumbent government performance at the party centra

Published 29 Jan, 2020 12:00am

Cotton & Textile

Taxes, surcharges: War of words between textile industry, Power Division continues

The war of words between the textile industry and Power Division remains in full swing on the imposition of taxes, surcharges and recovery of positive fuel price impact. In a recent letter to the Minister for Petroleum and Power, Omar Ayub Khan, All Pakis

Published 29 Jan, 2020 12:00am

Opposition in Senate stages walkout twice

The opposition on Tuesday staged a walkout from the Upper House of the Parliament twice; first over the absence of federal ministers during the Senate session and then on the 'hostile' attitude of the treasury benches, which eventually led to the adjournm

Published 29 Jan, 2020 12:00am

Energy

Islamabad region: Ufg of SNGPL reaches 9 percent against 7.6 percent recommended

Unaccountable for Gas (Ufg) of Sui Northern Gas Pipeline Limited (SNGPL) Islamabad region has reached nine percent against the 7.6 percent recommended gas losses by Oil and Gas Regulatory Authority (Ogra). A benchmark is set i.e. 7.6 percent (fixed benchm

Published 29 Jan, 2020 12:00am

Business & Economy

Qureshi to take part in Kenyan trade development moot today

Foreign Minister Shah Mahmood Qureshi will be visiting Kenya from January 29-30, 2020 to participate in the first-ever Pakistan-Africa Trade Development Conference, Foreign Office said.

Published 29 Jan, 2020 12:00am

Chinese Red Cross approached for providing chemicals used for isolating virus

Renowned singer and Chairman Pakistan Red Crescent Society (PRCS) Abrar-ul-Haq has said that Pakistan lacks capability to detect and diagnose novel Coronavirus at the moment and in this regard, Pakistan has approached the Chinese Red Cross and urged it to

Published 29 Jan, 2020 12:00am

Reference against Justice Isa: No individual including judges exempted from accountability: SC

The top court of the country Tuesday categorically said that no individual including the judges are exempted from accountability. The remarks came from Justice Mansoor Ali Shah, a member of the larger bench of apex court, while hearing a plea against the

Published 29 Jan, 2020 12:00am

SC directs Sindh government to cancel illegal allotments of forest land

The Supreme Court on Tuesday directed Sindh government to cancel illegal allotments of forest land in the province. A three-judge bench of the apex court headed by Chief Justice Gulzar Ahmed and comprising Justice Ijaz ul Ahsan and Justice Sajjad Ali Shah

Published 29 Jan, 2020 12:00am

85 percent Pakistani shopped online through Daraz: report

A study conducted by a global measurement company finds more than 85 percent of Pakistani online shoppers have shopped on Daraz, a leading online marketplace in Pakistan.

Published 29 Jan, 2020 12:00am

Governor, CM vow to work jointly for the good of people

Governor Punjab Chaudhry Muhammad Sarwar met with Chief Minister Sardar Usman Buzdar, here Tuesday and agreed to continue working jointly for the largest good of the public. Both also discussed different matters of mutual interest including development sc

Published 29 Jan, 2020 12:00am

Sarwar apprises EU Parliament members about Indian atrocities

Punjab Governor Chaudhry Mohammad Sarwar has written letter to 751 members of European Parliament including its vice-president regarding Indian atrocities against Kashmiris and controversial Citizenship Act against Muslims of India.

Published 29 Jan, 2020 12:00am

Four killed in Faisalabad road accident

Four persons including Driver and two women were killed, while a woman Sehrish Bibi injured seriously, when a speedy car over turned and collided with divider at Aminpur Interchange, who were returning Fatheh Noor Jamal, Kharian, Gujrat by road from Bahaw

Published 29 Jan, 2020 12:00am

Business & Economy

LCCI hails UK's favourable travel advisory for Pakistan

While terming British travel advisory a great initiative, the Lahore Chamber of Commerce and Industry on Tuesday urged the Pakistan's Foreign Ministry, Foreign Missions abroad to highlight this with zeal to motivate the others to follow the suite. LCCI Pr

Published 29 Jan, 2020 12:00am

'Goods imported from China be checked for coronavirus'

The Lahore Chamber of Commerce and Industry (LCCI) has said that the goods being imported from China should also be checked deeply as coronavirus can make its way through any sources.

Published 29 Jan, 2020 12:00am

Business & Economy

Less developed areas: survey to be conducted for identifying poor, Senate body told

The Benazir Income Support Program has written a letter to chief secretaries of all provinces, Gilgit-Baltistan (GB) and Azad Jammu and Kashmir (AJK) and federal secretaries concerned, requesting them to take appropriate action against those government of

Published 29 Jan, 2020 12:00am

Taxes

Coal business: RTO Islamabad unearths mega scam of fake invoices

Regional Tax Office (RTO) Islamabad has unearthed a mega scam of fake/flying invoices at national level involving several units dealing in coal business and claiming adjustment against import of fruits and vegetables, besides using fake/flying invoices, c

Published 29 Jan, 2020 12:00am

MNA, activists detained for protesting arrest of PTM leader

Police have detained MNA Mohsin Dawar from KP's tribal district on Tuesday for protesting the arrest of Pashtun Tahaffuz Movement (PTM) leader Manzoor Pashteen.

Published 29 Jan, 2020 12:00am

Articles

Partly Facetious: PM has no experience in hockey

"I was listening to Trump lawyer's defense in the impeachment trial and he cited an umpire stating in response to a player that the ball ain't in or out till I say so."

Published 29 Jan, 2020 12:00am

Stocks

Proscribed persons/entities: SECP issues directive to brokers, NBFCs and Modarabas

Securities brokers, futures brokers, insurance companies, Takaful operators, Non-Banking Finance Companies and Modarabas would immediately scan their customer database for any match with state designated/proscribed persons/entities, immediately freeze cus

Published 29 Jan, 2020 12:00am

Gold prices fall slightly

Gold was traded at Rs91400 per tola, down by Rs150 on the local market, traders said on Tuesday. The precious metal was available for Rs78361 per 10 grams, down by Rs129 and $1578 an ounce down by $5. Silver was selling for Rs1000 per tola, Rs857.33 per 1

Published 29 Jan, 2020 12:00am

Brief Recordings

Hub Power Company Limited

Hub Power Company Limited (PSX: HUBC) is an independent power producer (IPP) that has around 1600MW combined installed capacity from its 3 plants. It owns an RFO-fired power station of 1,200 MW in Balochistan, at Hub, which is its base plant. It also owns

Updated 29 Jan, 2020 05:49am

Six Burkina soldiers killed in attack

Six soldiers were killed and several reported missing Tuesday in a blast followed by gunfire in eastern Burkina Faso, security sources said. The attack came on the heels of a weekend massacre which claimed up to 50 lives in a country wracked by jihadist v

Published 29 Jan, 2020 12:00am

German MEP quits leftist bloc over far right past

A German MEP has resigned from the European Parliament's hard left group, it said Tuesday, after he was unmasked as a former member of the far right ultra-nationalist NPD party. Martin Buschmann, a 49-year-old from Hamburg, was elected to the Strasbourg a

Updated 29 Jan, 2020 08:22am

US bombing of Afghanistan hits 10-year high

American warplanes dropped more bombs on Afghanistan in 2019 than at any other time in at least a decade, according to the US Air Force, as Washington intensified attacks in the country amid withdrawal talks with the Taliban. In 2019 alone, the US dropped

Published 29 Jan, 2020 12:00am

Bangladesh allows education for Rohingya refugee children

Rohingya children living in Bangladesh refugee camps will be allowed to receive a formal education after a change of heart by Dhaka in a move welcomed by right activists. Nearly one million Rohingya, including more than half a million children, live in th

Updated 29 Jan, 2020 08:20am

IT & Computers

Facebook tool to clear third-party data rolls out globally

Facebook said Tuesday a new tool allowing users of the social network to view and delete data it collects from third parties is rolling out to the estimated two billion members of the leading social network worldwide.

Published 29 Jan, 2020 12:00am

Xi says China fighting 'demon' virus as nations prepare airlifts

China is battling a "demon" virus that has so far killed more than 100 people, President Xi Jinping said Tuesday, as foreign nations prepared to evacuate their citizens and the US said it was developing a vaccine.

Updated 29 Jan, 2020 08:19am

Kuwait sentences three stateless protesters to jail: Amnesty

A Kuwaiti court Tuesday sentenced three protesters to between 10 years and life in prison after they had demanded greater rights for stateless Arabs, Amnesty International said. The rights group said 15 men, including a leading rights activist, were arres

Updated 29 Jan, 2020 08:34am

UN Security Council debates new violence in Yemen

The UN Security Council convened Tuesday to discuss the crisis in Yemen, amid growing concern over the deteriorating situation and calls for the parties to re-engage in the political process, diplomats said. The meeting was held behind closed doors, at Br

Updated 29 Jan, 2020 09:49am

Global Business Economy

Renault names ex-Seat chief De Meo as CEO

French auto giant Renault on Tuesday named former Volkswagen director Luca de Meo its chief executive as it seeks to regain its footing after a year of turmoil sparked by the arrest of Carlos Ghosn. The 52-year-old Italian credited with turning around Spa

Updated 29 Jan, 2020 09:49am

Qatar appoints new prime minister

Qatar's ruler appointed a new prime minister on Tuesday, the state news agency reported, replacing veteran regime insider Sheikh Abdullah bin Nasser bin Khalifa Al-Thani. New Prime Minister Sheikh Khalid bin Khalifa bin Abdulaziz Al-Thani previously heade

Updated 29 Jan, 2020 11:14am

Libya unity government says 'UAE drone' downed, rocket kills three children

Libyan unity government forces said Tuesday they had downed an Emirati-supplied drone used by eastern strongman Khalifa Haftar's forces in the country's west, as three schoolchildren were reported killed in a Tripoli rocket attack.

Updated 29 Jan, 2020 10:24am

Energy

European gasoline margins fall

Northwest European gasoline barge refining margins fell on Monday amid low transatlantic exports. Arrivals of European gasoline and gasoline components to the United States have remained low at about 434,200 tonnes so far in January, Refinitiv Eikon data

Published 29 Jan, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,277. The traded value of Metals, Energy and COTS/FX was recorded at PKR 8.508 billion and the number of lots traded was 12,530.

Published 29 Jan, 2020 12:00am

Commodities

Euronext wheat falls to two-week low

Euronext wheat fell on Monday to a two-week low as concern over the impact of a spreading virus in China encouraged wheat futures to retreat further from onee-year highs struck last week March milling wheat, the most active contract on the Paris-based Eur

Published 29 Jan, 2020 12:00am

Commodities

CBOT soyabean futures fall

Chicago Board of Trade soyabean futures fell on Monday on concerns that the spread of a coronavirus in China could cut in to demand from the world's top buyer of the oilseed. Soyabean futures have fallen for five straight trading days.

Published 29 Jan, 2020 12:00am

Energy

US natural gas futures jump on colder weather

US natural gas futures jumped over 3% on Monday from a near four-year low last week on forecasts for colder weather and higher heating demand in February, record liquefied natural gas (LNG) exports and a continued slowdown in daily output.

Published 29 Jan, 2020 12:00am

Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 126,099 tonnes of cargo comprising 67,402 tonnes of import cargo and 58,697 tonnes of export cargo including 6,329 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 67

Published 29 Jan, 2020 12:00am

Cotton & Textile

Slow trading activity seen on cotton market

Slow trading activity was seen on the cotton market on Tuesday because of shortage of liquidity and poor availability of fine quality, dealers said. The official spot rate was unmoved at Rs9050, they added. In the ready session, over 2400 bales of cotton

Published 29 Jan, 2020 12:00am

Commodities

CBOT corn drops to 10-day low

Chicago Board of Trade corn futures fell 1.7% to a 10-day low on Monday, weighed by concerns about the spread of coronavirus in China that threatened to dent the global economy, traders said. The benchmark CBOT March corn futures contract fell below its 4

Published 29 Jan, 2020 12:00am

Commodities

US wheat futures mixed on poor export demand

US wheat futures ended mixed on Monday, with the most-active Chicago Board of Trade soft red winter wheat and MGEX spring wheat contracts closing lower on signs of poor export demand for US supplies, traders said. K.C. hard red winter wheat futures ended

Published 29 Jan, 2020 12:00am

Money & Banking

Yuan steadies, yen rises in Asia

The yuan steadied a little after slipping to its weakest level in a month in offshore trade on Tuesday, but sentiment remained fragile on lingering anxiety about the widening economic fallout from a new coronavirus in China.

Published 29 Jan, 2020 12:00am

Money & Banking

Dollar, Swiss franc, yen up in Europe

Concerns about the economic fallout from the coronavirus outbreak in China supported safe-haven currencies on Tuesday, with the dollar index approaching a two-month high and the Swiss franc holding near the highest in almost three years.

Published 29 Jan, 2020 12:00am

Money & Banking

Early trade in New York: Safe-haven currencies stay in demand

Concerns about the economic fallout from the coronavirus outbreak in China supported safe-haven currencies on Tuesday, with the dollar index at a two-month high and the Swiss franc at a nearly three-year peak against the euro.

Published 29 Jan, 2020 12:00am

Money & Banking

Safe havens up, Aussie, yuan weaken in New York

The US dollar index, the Japanese yen and the Swiss franc strengthened on Monday, while the offshore yuan tumbled and the Australian dollar notched a four-month low as fears about the spread of the coronavirus in China pushed investors into safe-haven ass

Published 29 Jan, 2020 12:00am

Money & Banking

South Africa's rand, bonds recover

South Africa's rand clawed back losses on Tuesday, firming slightly alongside local bonds as a selloff triggered by the spread of the coronavirus was halted by technical factors curbing big movements in either direction.

Published 29 Jan, 2020 12:00am

Money & Banking

Asian forex: Most Asian units slip as virus death toll rises

Most Asian currencies slid against the dollar on Tuesday, with the South Korean won leading the declines, as the rising death toll from the fast-spreading coronavirus battered appetite for risk. The won slipped as much as 0.8% to its lowest level in nearl

Published 29 Jan, 2020 12:00am

Money & Banking

Sterling drops on trade deal concerns, BoE nerves

Britain's pound slipped to a one-week low versus the dollar and weakened against the euro on Tuesday on concern about Britain's future relationship with the European Union and ahead of a Bank of England meeting that could see an interest rate cut.

Published 29 Jan, 2020 12:00am

Money & Banking

Aussie, kiwi take collateral damage from virus risks

The Australian dollar was pinned near three-month lows on Tuesday as markets struggled to assess the potential economic damage that could come from China's coronavirus outbreak.

Published 29 Jan, 2020 12:00am

Cricket

Saud to captain Pakistan Shaheens against visiting MCC team

Pakistan Cricket Board (PCB) has rewarded batsman Saud Shakeel for leading Pakistan to 50-over ACC Emerging Teams Asia Cup 2019 title by naming him as captain for the one-off 50-over fixture against the Marylebone Cricket Club.

Published 29 Jan, 2020 12:00am

Cricket

Official anthem of HBL PSL 2020 released

Tayyar Hain, the official anthem of the HBL Pakistan Super League 2020 has been released across the country via the leading television news channels on Tuesday.

Published 29 Jan, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 12	278
USD PKR Interbank Buying / Nov 12	277.75
USD to Japanese Yen / Nov 13	154.85
USD to Swiss Franc / Nov 13	0.88
Pound Sterling to USD / Nov 13	1.27
Euro to USD / Nov 13	1.06

Stock	Volume
S&P 500 / Nov 12	5,983.99
Nasdaq / Nov 12	19,281.40
FTSE 100 / Nov 12	8,025.77
Dow Jones / Nov 12	43,910.98
Germany DAX 30 / Nov 12	19,033.64
France CAC40 / Nov 12	7,226.98
India Sensex / Nov 13	78,360.01
Tokyo Nikkei / Nov 13	38,794.83

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 12	18,085
Gold 10 Grams PKR / Nov 12	231,911
Petrol/Litre / Nov 13	248.38
Crude Oil USD/Barrel / Nov 13	68.33
Gold Spot USD/Ounce / Nov 13	2,606.22
Diesel/Litre / Nov 13	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 13 786 Investments Limited(786)	6.55 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 13 Al-Abbas Sugar Mills Limited(AABS)	600 ▼ 0.00 (0.00%)
Agro Allianz / Nov 13 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 13 Ali Asghar Textile Mills Limited(AATM)	64.90 ▼ 0.00 (0.00%)
Allied Bank / Nov 13 Allied Bank Limited(ABL)	114.51 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 13 Abbott Laboratories (Pakistan) Limited(ABOT)	996.67 ▼ 0.00 (0.00%)
Abson Ind. / Nov 13 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 13 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 13 786 Investments Limited(786)	6.55 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 13 Al-Abbas Sugar Mills Limited(AABS)	600 ▲ 0.00 (0.00%)
Agro Allianz / Nov 13 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 13 Ali Asghar Textile Mills Limited(AATM)	64.90 ▲ 0.00 (0.00%)
Allied Bank / Nov 13 Allied Bank Limited(ABL)	114.51 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 13 Abbott Laboratories (Pakistan) Limited(ABOT)	996.67 ▲ 0.00 (0.00%)
Abson Ind. / Nov 13 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 13 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▲ 0.00 (0.00%)

Stock	Volume
Pak Int.Bulk / Nov 13 Pakistan International Bulk Terminal(PIBTL)	79,861,776 ▲ 0.00
K-Electric Ltd. / Nov 13 K-Electric Limited(KEL)	71,760,455 ▲ 0.00
Pak Refinery / Nov 13 Pakistan Refinery Limited(PRL)	56,364,168 ▲ 0.00
Sui South Gas / Nov 13 Sui Southern Gas Company Limited(SSGC)	45,537,793 ▲ 0.00
Cnergyico PK / Nov 13 Cnergyico PK Limited(CNERGY)	40,139,141 ▲ 0.00
Pak Elektron / Nov 13 Pak Elektron Limited(PAEL)	37,703,615 ▲ 0.00
WorldCall Telecom / Nov 13 Worldcall Telecom Limited(WTL)	28,322,891 ▲ 0.00
B.O.Punjab / Nov 13 The Bank of Punjab(BOP)	18,433,912 ▲ 0.00
The Searle Co. / Nov 13 The Searle Company Limited(SEARL)	17,718,419 ▲ 0.00

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