News Archives for Print - 2020-01-31

Print - 2020-01-31

Business & Economy

Sindh government releases Rs 85 billion under ADP in H1, 2019-20

The Sindh government released Rs 85 billion of Annual Development Programme (ADP) during the first half of fiscal year 2019-20, out of which Rs 50 billion were utilized. The utilization of funds came to more than 58 percent during the period under review.

Published 31 Jan, 2020 12:00am

Commodities

US soyabean futures fall for seventh day

US soyabean futures fell for a seventh day in a row on Wednesday on light export demand, traders said. The seven session losing streak was the longest since an eight-session stretch that ended on Dec. 2. Soyabean futures have fallen 4% during the current

Published 31 Jan, 2020 12:00am

Commodities

US wheat futures lower

US wheat futures dropped on Wednesday, with traders saying prices needed to fall for US supplies to become competitive on the export market. The benchmark Chicago Board of Trade March soft red winter wheat futures contract dropped below its 20-day moving

Published 31 Jan, 2020 12:00am

Iraq resumes joint operations with US-led coalition

Iraq's security forces have resumed operations with the US-led coalition to fight Islamic State group sleeper cells, the global alliance said, after tensions led to a more than three-week pause.

Published 31 Jan, 2020 12:00am

China Communist Party 'central threat of our times': Pompeo

US Secretary of State Mike Pompeo on Thursday called China's ruling Communist Party "the central threat of our times" that challenges Western principles.

Published 31 Jan, 2020 12:00am

Deadly strikes hit Syria rebel bastion as army advances

Air strikes killed 10 civilians near a bakery and a medical clinic in Syria's last major rebel stronghold on Thursday, as government forces pressed a fierce ground offensive.

Published 31 Jan, 2020 12:00am

German MP's offices raided over Azerbaijan corruption

German police raided offices and other premises linked to an MP from Chancellor Angela Merkel's CDU party and a former lawmaker on Thursday in a corruption case with ties to Azerbaijan.

Published 31 Jan, 2020 12:00am

Suspected Hindu nationalist opens fire at Delhi student demo

A suspected Hindu nationalist Thursday live-streamed himself minutes before opening fire on university students protesting against India's new citizenship law.

Published 31 Jan, 2020 12:00am

Flash floods kill nine in Indonesia

Flash floods and landslides have killed at least nine people and forced thousands into temporary shelters on Indonesia's Sumatra island, the local disaster agency said Thursday.

Published 31 Jan, 2020 12:00am

European rights court faults France for prison overcrowding

The European Court of Human Rights on Thursday ordered France to pay thousands of euros in damages to dozens of inmates after ruling that authorities had not taken sufficient measures to end prison overcrowding.

Published 31 Jan, 2020 12:00am

Netanyahu tells Putin Mideast deal a 'new opportunity'

Israeli Prime Minister Benjamin Netanyahu on Thursday hailed US President Donald Trump's Middle East peace plan as a new opportunity after flying to Moscow to discuss it with President Vladimir Putin.

Published 31 Jan, 2020 12:00am

German nurse 'poisoned babies with morphine'

A nurse in Germany has been arrested on suspicion of poisoning five premature babies with morphine, police said Thursday, adding that the infants had survived.

Published 31 Jan, 2020 12:00am

US life expectancy up for first time in four years

US life expectancy is up for the first time in four years, driven by factors including a fall in the rate of fatal drug overdoses and cancer deaths, official statistics showed Thursday.

Published 31 Jan, 2020 12:00am

Four Burundi journalists get jail terms over rebel coverage

A Burundi court Thursday sentenced four reporters covering an incursion of rebels from neighbouring DR Congo to 18 months in jail, sparking immediate criticism from rights watchdog Amnesty International.

Published 31 Jan, 2020 12:00am

Brief Recordings

An interview with Nadeem Bajwa, CEO Descon Engineering '30 per cent of our growth should come from international JVs and technology partnerships'

Nadeem Bajwa has over 24 years of leadership experience, across diverse geographies and functions in the oilfield technology. Currently he is the Chief Executive Officer at Descon Engineering Limited; one of largest engineering, construction, manufacturin

Updated 31 Jan, 2020 04:22am

Energy

330MW Thar coal achieves financial closing

Hub Power Company's 330MW Thar coal-fired power plant achieved financial closing on Thursday, signing of which was witnessed by the Minister for Power, Omar Ayub Khan, with other senior officials of Power Division, PPIB and the company.

Published 31 Jan, 2020 12:00am

FFC earnings per share increased to Rs13.4 in CY19

Fauji Fertilizer Company Limited (FFC) posted unconsolidated earnings of Rs17.1 billion in the calendar year 2019 (CY19) as compared to Rs14.4 billion in CY18.

Published 31 Jan, 2020 12:00am

Youth conference held at SU

Bureau of Students Tutorial Guidance/Counseling Services and Co-curricular Activities (STAGS), University of Sindh Jamshoro in loop with Youth Affairs Department; Government of Sindh and Mehran Research and Development Foundation organized one-day youth c

Published 31 Jan, 2020 12:00am

Articles

Partly Facetious: Progress is impossible without change!

"The right to change one's mind is enshrined in many a quote from wise men."

Published 31 Jan, 2020 12:00am

Business & Economy

Test run: OLMT consumes Rs 19.2 million electricity

The ongoing test run of Orange Line Metro Train has consumed electricity worth Rs19.2 million, provided by the Lahore Electric Supply Company (LESCO) through GIS grid stations at two different locations.

Published 31 Jan, 2020 12:00am

Body formed in Punjab: Health department issues alert to deal with coronavirus threat

While the health department has issued alert to deal with coronavirus threat, the Punjab government has constituted an eight-member cabinet committee for taking protective measures in the province. Punjab Minister for Health Dr Yasmin Rashid has been name

Published 31 Jan, 2020 12:00am

Average per kWh electricity generation cost to increase 10 percent in FY2024-25: LUMS report

The average per kWh electricity generation cost in the country will increase from Rs10.87 in FY2018-19 to Rs12 in FY2024-25, showing a 10 percent increase in just six years and a 67 percent increase since FY2015-16 while the annual capacity payments of po

Published 31 Jan, 2020 12:00am

Five-year plan to increase rice output launched in Punjab

A five year programme under Agriculture Emergency a national programme for enhancing profitability through increasing productivity of rice has been lunched in 15 (fifteen )rice growing districts of the Punjab costing Rs6.63 billion.

Published 31 Jan, 2020 12:00am

Business & Economy

July-December 2019: ICI Pakistan consolidated PAT increases by 124 percent

Following the meeting of the Board of Directors, ICI Pakistan Limited announced its financial results for the six months period ended December 31, 2019.

Published 31 Jan, 2020 12:00am

Punjab government seeks Nawaz Sharif's fresh medical report

The PTI-led Punjab government has sought fresh medical reports of the former prime minister Nawaz Sharif who is currently in London on bail for his medical treatment. Sources said the provincial government has given time to Nawaz Sharif till Friday to sub

Published 31 Jan, 2020 12:00am

Business & Economy

Housing sector: Vast opportunities of investment exist: Buzdar

Chief Minister Punjab Sardar Usman Buzdar Thursday said that there exists vast opportunities for investment in the housing sector and participation of private sector in it will yield positive results

Published 31 Jan, 2020 12:00am

PU student picked up by 'men in civvies' returns home

A Punjab University MPhil student, who was allegedly picked up by "unidentified men in civvies" from his residence in Shalimar locality early in the morning, returned to his home.

Published 31 Jan, 2020 12:00am

Trend of declaring people as traitors must come to an end: Bilawal

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Thursday said that the narrative of declaring some people as traitors must come to an end.

Published 31 Jan, 2020 12:00am

Two extended for 120 days: 3 ordinances laid before NA amid opposition's walkout

The Pakistan Tehreek-e-Insaf (PTI) government Thursday, amid protest and walkout of the opposition, laid three ordinances before the National Assembly, extended two ordinances for another 120 days and passed one bill.

Published 31 Jan, 2020 12:00am

Taxes

Ailing FBR chief to meet doctors today

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said on Thursday that he will decide to avail sick leave after consulting his doctor on Friday (January 31).

Updated 31 Jan, 2020 04:28am

CM Sindh, WB review on-going, new projects

The Sindh Chief Minister Syed Murad Ali Shah and World Bank delegation led by its Country Director Patchmauthu Illangovan in their meeting here at CM House reviewed on-going development portfolio of infrastructure and sustainability, economy, public secto

Published 31 Jan, 2020 12:00am

Business & Economy

Salary component consumes Rs 870 billion of Rs 1.2 trillion budget: CM

Sindh Chief Minister Syed Murad Ali Shah has said that out of Rs 1.2 trillion provincial budget Rs 870.2 billion are spent on salaries, employees' retirement benefits, operation expenses, grants, subsidies, including Rs 75 billion to local bodies and repa

Published 31 Jan, 2020 12:00am

Taxes

Bank accounts: FBR's recovery rules found to be arbitrary: LHC

Lahore High Court (LHC) Thursday heard the petitions filed against arbitrary recovery proceedings initiated by the Federal Board of Revenue (FBR) through attachment of bank accounts of taxpayers without intimating them.

Updated 31 Jan, 2020 06:49am

Business & Economy

PAC tells PC secretary to conduct probe into Rs5.7bn malfeasance

The Public Accounts Committee (PAC) Thursday directed the secretary Privatization Commission (PC) to conduct an inquiry into the financial embezzlement of Rs 5.7 billion against the concerned officials and provide a report to PAC within four weeks.

Published 31 Jan, 2020 12:00am

Stocks

Stock brokers told: Markups on clients' debit balance violation of guidelines: SECP bench

An Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) Thursday conveyed to the stock market brokers that charging markups on continued debit balance of their clients is a violation of guidelines, dated July 3, 2013, issued by the

Updated 31 Jan, 2020 06:50am

Additional frequency spectrum: SC gives government, PTA a day for resolution of issue

The Supreme Court on Thursday granted one day to the federal government, Pakistan Telecommunication Authority (PTA), to resolve the issue of additional frequency spectrum given to CM-Pak Limited (Zong Mobile) for two years.

Published 31 Jan, 2020 12:00am

Tehran desires to join CPEC: envoy

Iranian Ambassador to Pakistan Seyyed Mohammad Ali Hosseini Thursday said that Tehran is ready to join China-Pakistan Economic Corridor (CPEC) and called for finding ways to deal with the US sanctions hampering economic cooperation.

Published 31 Jan, 2020 12:00am

IHC extends Durrani's interim bail till February 19

The Islamabad High Court (IHC) Thursday extended interim bail of former federal minister Akram Khan Durrani till February 19 in four inquiries initiated against him by National Accountability Bureau (NAB).

Published 31 Jan, 2020 12:00am

NAB requests court to reject Majeed's acquittal plea

National Accountability Bureau (NAB) on Thursday requested the Accountability Court hearing multibillion rupees fake bank accounts case to reject the acquittal application filed by accused Abdul Ghani Majeed, son of Omni Group Chairman Anawar Majeed, as N

Published 31 Jan, 2020 12:00am

Torkham border: Rocket attack termed a conspiracy to hamper 24/7 trade

A deliberate attempt has been made to hamper 24/7 operations at Torkham border and create hurdles in smooth clearance of imports and exports between Pakistan and Afghanistan.

Published 31 Jan, 2020 12:00am

Asad reviews progress of Hyderabad University

Federal Minister for Planning, Development and Special Initiatives, Asad Umar chaired a meeting to review the progress of establishment of Hyderabad University/Institute here on Thursday. Senior officials from HEC and Planning Commission of Pakistan as we

Published 31 Jan, 2020 12:00am

Money & Banking

SBP's forex reserves up $184 million

The State Bank's reserves increased by $184 million to reach $12 billion mark during the last week. According to weekly foreign exchange report issued by SBP on Thursday, SBP's foreign exchange reserves rose to $11.915 billion during last week ending Janu

Updated 31 Jan, 2020 06:47am

SEPA seals five factories for flouting environmental laws

Sindh Environmental Protection Agency (SEPA) on Thursday claimed to have sealed five factories in Korangi Industrial Area for not complying with Sindh Environmental Protection Act 2014, while cases of another two factories have been forwarded to the conce

Published 31 Jan, 2020 12:00am

Shehbaz files defamation suit against David Rose, Daily Mail & General Trust

PML-N President and Opposition Leader in National Assembly Shehbaz Sharif has formally launched a defamation suit against journalist David Rose and Daily Mail & General Trust (DMGT), the publishers of the Mail Online and Mail on Sunday. The case has been

Published 31 Jan, 2020 12:00am

Need-cum-merit basis: MUFJ gives 12 scholarship certificates to KU students

A four-member delegation of the Mitsubishi UFJ (MUFJ) foundation Japan awarded 12 scholarship certificates among the deserving students of the University of Karachi on need-cum-merit basis on Tuesday. The ceremony was organised by KU Student Financial Aid

Published 31 Jan, 2020 12:00am

Sindh Accreditation Committee's meeting held

The Annual meeting of Provincial Accreditation Committee was held under the chairmanship of Zeenat Jehan, Director Press Information on behalf of Information Department, Government of Sindh, Karachi on January 30, 2020. The following journalists from diff

Published 31 Jan, 2020 12:00am

Energy

Ogra seeks up to 1.9 percent hike in POL products' prices

Owing to increase in crude oil prices in the international market, the Oil and Gas Regulatory Authority (Ogra) has suggested to the government to increase petroleum products' prices up to 1.9 percent for February 2020.

Updated 31 Jan, 2020 06:50am

PM to launch programme today: Kifalat cash disbursement to be raised to Rs 168 billion

The government has decided to increase cash disbursement to Rs 168 billion from Rs 120 billion under the new Ehsaas Kifalat program being unveiled on Friday (Jan 31) by Prime Minister Imran Khan with Ehsaas Kifalat card carrying the picture of Pakistan's

Published 31 Jan, 2020 12:00am

Energy

Excelerate, EETL ink HoA on LNG terminal expansion

Excelerate Energy L P (Excelerate) and Engro Elengy Terminal Ltd (EETL) have signed a Heads of Agreement (HoA) for the expansion of the EETL Liquefied Natural Gas (LNG) import terminal located in Port Qasim, Pakistan.

Updated 31 Jan, 2020 06:51am

Telecommunication

Huawei Y6s up for pre-orders

Huawei's latest smartphone for the entry-level segment Huawei Y6s is up for pre-orders from January 31 to February 6. "This time the company is introducing an exciting 'Double Deposit Offer' where consumers can pre-order the device for Rs 800 which equals

Published 31 Jan, 2020 12:00am

Taxes

Option of exclusion: KTBA seeks clarification after issuance of SRO 1190, 2019

Taxpayers are facing immense difficulties as the option of exclusion as provided under SRO 1190(I)/2019 has only been allowed for the taxpayers enlisted in the exclusion list.

Published 31 Jan, 2020 12:00am

Articles

Banking for children

How our kids can miraculously contribute to national savings and resource mobilization towards a better and brighter Pakistan! It is a test of the will, vision and vitality of people at the helm of banking affairs to revitalize school banking and initiate

Published 31 Jan, 2020 12:00am

11 killed as van crashes into pillar

At least eleven people were killed and seven others sustained injuries in an accident in Bhera police limits when the van crashed into a pillar, police said Thursday.

Published 31 Jan, 2020 12:00am

Questions emerge on Israel's West Bank annexation plans

Questions surfaced Thursday over whether Israel would immediately seek to annex parts of the West Bank, after US President Donald Trump's controversial peace plan called for extending Israeli sovereignty into the area.

Published 31 Jan, 2020 12:00am

IMF to hold talks from February 3 under $6 billion EFF

Pakistan and International Monetary Fund (IMF) will hold talks starting from February 3 for the second review under the US$6 billion Extended Fund Facility (EFF).

Published 31 Jan, 2020 12:00am

Budget for 2020-21: Exemptions to go, rich to pay more taxes

The budget for 2020-21 would focus on six major areas, including phasing out of tax concessions and exemptions and higher incidence of taxes on affluent classes.

Published 31 Jan, 2020 12:00am

Two soldiers martyred, five terrorists killed in NWA: ISPR

Two soldiers of the Pakistan Army on Thursday embraced martyrdom in an exchange of fire with terrorists in the Dattakhel area of North Waziristan, the Inter-Services Publication Relations (ISPR) said.

Published 31 Jan, 2020 12:00am

Deadliest day for China in virus fight as global fears mount

China reported its biggest single-day jump in novel coronavirus deaths on Thursday, as global fears deepened with more infections confirmed overseas including three Japanese evacuated from the outbreak's epicentre.

Published 31 Jan, 2020 12:00am

IMF monitoring economic hit from virus in 'real time'

The International Monetary Fund is monitoring developments on the coronavirus outbreak in "real time," a spokesman said Thursday, adding that the economic hit depends on the duration of the epidemic. "We at the IMF are monitoring this very closely, we're

Published 31 Jan, 2020 12:00am

China virus could create US jobs: commerce secretary

US Commerce Secretary Wilbur Ross said Thursday that the virus that has killed 170 people in China and sparked global health fears could help create jobs in America.

Published 31 Jan, 2020 12:00am

Pakistanis in Wuhan: Technical body to present suggestions: FO

The Foreign Office said Thursday that all measures are being taken for the assistance, safety and welfare of Pakistani nationals stuck in China after the outbreak of coronavirus in Wuhan and a high-powered technical committee will be presenting its recomm

Published 31 Jan, 2020 12:00am

Coronavirus: Government decides not to repatriate Pakistanis

The government of Pakistan has decided that it will not evacuate Pakistanis from coronavirus-hit China, said Special Assistant to Prime Minister on Health (SAPM) Dr Zafar Mirza on Thursday.

Published 31 Jan, 2020 12:00am

CPEC-related shipments not affected: Chinese workforce faces reasonable movement curb

Chinese engineers and labour working on China-Pakistan Economic Corridor (CPEC) projects have been advised to extend their vacations till precautionary measures to limit the spread of coronavirus are in place.

Published 31 Jan, 2020 12:00am

Stocks

KSE-100 Index inches up: BRIndex100 flat

Pakistan Stock Exchange Thursday witnessed a volatile session with low volumes due to investors' lack of interest.

Updated 31 Jan, 2020 06:49am

Eurozone unemployment falls to 7.4 percent

Unemployment in the eurozone fell to 7.4 percent in December, its lowest level since May 2008, the EU's Eurostat data office said on Thursday.

Published 31 Jan, 2020 12:00am

US growth slowed in 2019

The US economy in 2019 expanded by the slowest rate since President Donald Trump took office as worsening trade friction, undermined investment and exports, according to new government data released Thursday. The $21 trillion economy grew by 2.3 percent c

Published 31 Jan, 2020 12:00am

Rental power: Government submits dispute settlement documents to ICSID

The dispute between Turkish company M/s Karkey Karadeniz Elektrik Uretim and Government of Pakistan (GoP) is said to be reaching its conclusion as Islamabad has submitted dispute settlement documents to International Centre for Settlement of Investment Di

Published 31 Jan, 2020 12:00am

Big hit for Facebook as latest results show cracks in growth

Facebook shares came under heavy selling pressure Thursday as the latest earnings report for the leading social network highlighted mushrooming costs in dealing with privacy, abuse and misinformation.

Published 31 Jan, 2020 12:00am

Government-IPP out-of-court settlement agreement in limbo

The out-of-court settlement agreement between Independent Power Producers (IPPs) and Government of Pakistan (GoP) is in limbo as the committee headed by Minister for Economic Affairs, Hammad Azhar has not finalised its report on M/s Rouch Power, owned by

Published 31 Jan, 2020 12:00am

Pompeo trumpets Brexit 'benefits'

Secretary of State Mike Pompeo predicted Thursday that Brexit would bring "enormous benefits" to the United States and the UK, during a visit to Britain on the eve of its historic departure from the European Union.

Published 31 Jan, 2020 12:00am

ECP again takes up petition against Faryal

In an important development, the Election Commission of Pakistan (ECP) on Thursday again took up a petition moved by two Pakistan Tehreek-e-Insaf (PTI) MPAs from Sindh Assembly seeking disqualification of Faryal Talpur, the sister of PPP CO-Chairman Asif

Published 31 Jan, 2020 12:00am

Rs 10.3 billion projects approved by CDWP

The Central Development Working Party (CDWP) has approved as many as six development projects at the cost of Rs 10.3 billion and recommended two projects valued at Rs 30.86 billion to the Executive Committee of National Economic Council (Ecnec).

Published 31 Jan, 2020 12:00am

Chaudhry Sugar Mills: Nawaz accused of receiving kickbacks, laundering dirty money

Special Assistant to the Prime Minister on Accountability, Shahzad Akbar on Thursday alleged that former prime minister Nawaz Sharif has used Chaudhry Sugar Mills for receiving kickbacks and committing money laundering.

Published 31 Jan, 2020 12:00am

Declaring anyone a 'traitor' dangerous for country: Dawar

Pashtun Tahaffuz Movement (PTM) leader and Member of National Assembly (MNA), Mohsin Dawar has said that trend of declaring anyone a traitor should be stopped and termed this trend dangerous for the country.

Published 31 Jan, 2020 12:00am

Will respond with 'full force' if India attacks: ISPR DG

Inter-Services Public Relations (ISPR) Director General Major General Asif Ghafoor on Thursday while responding to Indian Prime Minister Narendra Modi's statement said that if war is imposed, Pakistan Army will respond with "full force".

Published 31 Jan, 2020 12:00am

Letters

'Economy: the speech we won't hear'

This is apropos a Business Recorder op-ed "Economy: the speech we won't hear" carried by the newspaper yesterday. The writer, Shabir Ahmed, has articulated a highly informed argument about the performance of PTI government. Not only is he objective

Published 31 Jan, 2020 12:00am

Articles

Trump's first presidential portfolio lags job, stock market growth

In his first address to the US Congress, President Donald Trump hailed General Motors Co , Harley-Davidson Inc, Intel Corp and seven other companies as innovators and job creators, predicting they would be among those producing "tens of thousands of new A

Published 31 Jan, 2020 12:00am

Speakers term atrocities in IOJ&K as the worst 'holocaust' of 21st century

Speakers at a seminar on Thursday termed the ongoing atrocities against the people of Indian-occupied Jammu and Kashmir (IOJ&K) as the worst 'holocaust' of the 21st century and urged international community to intervene for realization of the right to sel

Published 31 Jan, 2020 12:00am

Urban flooding: Sindh government to build 3.5-km-long SWD

Sindh Chief Secretary Syed Mumtaz Ali Shah while presiding over a meeting on Thursday regarding preventive measures against monsoon rains and urban floods, decided to build a new storm water drain and rehabilitate the existing Mahran drain to save the res

Published 31 Jan, 2020 12:00am

Free medical camp in Landi Kotal

The Khyber Pakhtunkhwa Health Department in collaboration with FC 104 Wing on Thursday organized a free medical camp in government primary school Asheq Kalley, Mirdad Khel area of Landi Kotal. Around 1859 patients were treated in the free medical facility

Published 31 Jan, 2020 12:00am

Clarification

Muhammad Yahya, President Karachi Customs Agents Association (KCAA), clarified his statement carried by Business Recorder on Jan 30. According to him, the sterilization of containers is the duty of the concerned departments such as Ministry of Plan

Published 31 Jan, 2020 12:00am

Fishermen to take on sea from next month

With scaling back cold, fishermen of Karachi are prepared to take on the tides for appealing seafood probably from next February 2020. Talking to Business Recorder on Thursday, President Native Islanders Fishermen Association, Asif Bhatti said that

Published 31 Jan, 2020 12:00am

MQM-P denies putting any demands before federal government

Muttahida Qaumi Movement-Pakistan (MQM-P) on Thursday declared that it didn't put any demand with the federal government for its return to the cabinet. MQM-P's spokesman reacting to the media reports that the party made the return to federal cabinet by de

Published 31 Jan, 2020 12:00am

Energy

GRM trends downwards reflecting YoY decline of 56 percent

The Gross Refining Margin (GRM) averaged $2.89/bbl in January 2020, reflecting a year-on-year decline of $3.66/bbl or 56 percent. GRM trended downwards, as hefty losses at the bottom of the barrel outstripped gains registered in other sections of the barr

Published 31 Jan, 2020 12:00am

African markets: Quarantine pact with Kenya to pave way for fruit export: PFVA

The prospects of opening up of African markets for Pakistani mangoes and kinnow have brightened as Kenya's Quarantine Department shows willingness to allow import of Pakistani fruits after agreement between the two countries.

Published 31 Jan, 2020 12:00am

Business & Economy

Industrialisation to help resolve economic problems: KATI

President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan has said that economic imbalance, poverty, unemployment and other problems can only be addressed by speedy industrialisation of the country. He termed higher policy rate as one

Published 31 Jan, 2020 12:00am

Business & Economy

Half year ending December 31, 2019: Lucky Cement records consolidated earnings of Rs 3.21 billion

On a consolidated basis, Lucky Cement Limited reported net profit after tax of Rs 3.21 billion after taking out Rs 0.71 billion attributable to non-controlling interests for the half year ended December 31, 2019, which translates into earnings per share (

Published 31 Jan, 2020 12:00am

US CG team offers partnership on films to KU

A delegation of the United States Consulate General Karachi visited the University of Karachi on Tuesday and offered the university partnerships on films at the campus. The meeting was held in the Vice Chancellor Secretariat in connection with the univers

Published 31 Jan, 2020 12:00am

Money & Banking

ADB approves $15 million loan for urban uplift planning in Punjab

The Asian Development Bank (ADB) has approved a $15 million loan that will help seven cities in Punjab design comprehensive investment and public service delivery plans for upcoming urban development projects.

Updated 31 Jan, 2020 06:41am

Saudi Arabia to assist KP in processing, exporting minerals

The Kingdom of Saudi Arabia has assured to provide assistance to Khyber Pakhtunkhwa government in processing and export of mineral resources of the province. It was agreed in a meeting between KP Governor Shah Farman and Saudi Ambassador to Pakistan Nawaf

Published 31 Jan, 2020 12:00am

NA Advisory body decides to continue ongoing session till February 17

The House Business Advisory Committee of the National Assembly chaired by Speaker National Assembly Asad Qaiser on Thursday decided that ongoing session of the National Assembly would continue for 19 days (till February 17, 2020).

Published 31 Jan, 2020 12:00am

Articles

Stay of recovery in tax matters - I

In tax disputes the principles relating to stay of recovery in appropriate cases with or without condition, whether provided statutorily or as a matter of inherent jurisdiction, are well-established. The highest court of the country, the Supreme Court of

Published 31 Jan, 2020 12:00am

'Deal of the century'?

President Donald Trump's long-awaited "deal of the century" for peace in the Middle East was rejected by the Palestinians even before it was made public on Tuesday, and rightly so. Not that it was the 'new Balfour declaration' to secure Israel's security

Updated 31 Jan, 2020 06:21am

Privatisation to generate Rs 150 billion

Minister for Privatisation Muhammadmian Soomro, Secretary Privatisation Rizwan Malik and the Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan in a joint press conference at the Press Information Department reveale

Updated 31 Jan, 2020 06:21am

Business & Economy

'Charter of economy': Talk about developing consensus getting louder: BMP

Secretary General (Federal) of the Businessmen Panel Ahmad Jawad has said that the talk about developing a consensus on a 'charter of economy' is getting louder in various circles as no political party finds itself to square up to the myriad problems pres

Published 31 Jan, 2020 12:00am

PM forms bodies to have liaison with allied parties

Prime Minister Imran Khan has formed three committees to maintain liaison with allied parties to reduce the communication gap between allies and government after problems appeared brewing within the ruling coalition.

Published 31 Jan, 2020 12:00am

Business & Economy

Plea to facilitate businessmen for boosting trade ties

The Sarhad Chamber of Commerce and Industry (SCCI) has urged the Islamabad and Kabul to take joint measures to facilitate business community on both sides of the border to further strengthen bilateral and transit trade relations between the two neighbouri

Published 31 Jan, 2020 12:00am

Taxes

FBR's directives or field formations

Federal Board of Revenue (FBR) has directed field formations that market committees should start the process of registration and ensure filing of returns by small traders. In this regard, the FBR has issued instructions to the field formations here on Thu

Updated 31 Jan, 2020 06:49am

New Sabzi Mandi: Minister vows to hold inquiry into illegal allotments of plots

The Sindh Minister for Agriculture Mohammed Ismail Rahu informed that farmers market would be established in Hyderabad expo center from February 16 next month. He assured that an inquiry would be conducted for illegal allotments of plots in new Sabzi Mand

Published 31 Jan, 2020 12:00am

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,240. The traded value of Metals, Energy and COTS/FX was recorded at PKR 5.237 billion and the number of lots traded was 10,994.

Published 31 Jan, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 31	279.03
USD PKR Interbank Buying / Jan 31	278.88
USD to Japanese Yen / Jan 31	155.19
USD to Swiss Franc / Jan 31	0.91
Pound Sterling to USD / Jan 31	1.24
Euro to USD / Jan 31	1.04

Stock	Volume
Hang Seng / Jan 30	20,225.11
S&P 500 / Jan 31	6,040.53
India Sensex / Jan 31	77,500.57
Tokyo Nikkei / Jan 31	39,572.49
Nasdaq / Jan 31	19,627.44
FTSE 100 / Jan 31	8,673.96
Dow Jones / Jan 31	44,544.66
Germany DAX 30 / Jan 31	21,732.05

Item	Value
Crude Oil USD/Barrel / Jan 31	72.53
Karachi Cotton PKR/37.32 KG / Jan 31	18,285
Gold 10 Grams PKR / Jan 31	250,171
Gold Spot USD/Ounce / Jan 31	2,798.41
Cotton US¢/pound / Jan 31	65.88
Petrol/Litre / Feb 2	256.13

Gainers
Losers
Leaders

Stock	Price
Kohinoor Ind. / Jan 31 Kohinoor Industries Limited(KOIL)	10.21 ▲ 1 (10.86%)
IGI Life Ins / Jan 31 IGI Life Insurance Limited(IGIL)	15.13 ▲ 1.38 (10.04%)
Sana Ind / Jan 31 Sana Industries Limited(SNAI)	28.77 ▲ 2.62 (10.02%)
Tariq Corporation / Jan 31 Tariq Corporation Limited(TCORP)	16.91 ▲ 1.54 (10.02%)
I.C.C. Ind. / Jan 31 ICC Industries Limited(ICCI)	15.72 ▲ 1.43 (10.01%)
Redco Textile / Jan 31 Redco Textiles Limited(REDCO)	24.17 ▲ 2.2 (10.01%)
Leather Up Ltd. / Jan 31 Leather Up Limited(LEUL)	53.74 ▲ 4.89 (10.01%)
Pak Leather / Jan 31 Pak Leather Crafts Limited(PAKL)	32.63 ▲ 2.97 (10.01%)
Dandot Cement / Jan 31 Dandot Cement Company Limited(DNCC)	16.48 ▲ 1.5 (10.01%)

Stock	Price
Blue-Ex Ltd / Jan 31 Blue-Ex Limited (GEM)(GEMBLUEX)	54.86 ▼ -6.1 (-10.01%)
D.M. Textile / Jan 31 D.M. Textile Mills Limited(DMTX)	63 ▼ -7 (-10%)
First Imrooz Mod. / Jan 31 First Imrooz Modaraba(FIMM)	189 ▼ -21 (-10%)
Power Cem(Pref) / Jan 31 Power Cement (Pref)(POWERPS)	10.41 ▼ -1.15 (-9.95%)
National Silk / Jan 31 The National Silk & Rayon Mills Limited(NSRM)	40.84 ▼ -4.51 (-9.94%)
Sec. Inv. Bank / Jan 31 Security Investment Bank Limited(SIBL)	7.83 ▼ -0.76 (-8.85%)
Shahtaj Sugar / Jan 31 Shahtaj Sugar Mills Limited(SHJS)	109.56 ▼ -10.44 (-8.7%)
Kohinoor Mills / Jan 31 Kohinoor Mills Limited(KML)	31.05 ▼ -2.9 (-8.54%)
F.Credit & Inv / Jan 31 First Credit and Investment Bank Limited(FCIBL)	7.28 ▼ -0.66 (-8.31%)

Stock	Volume
Cnergyico PK / Jan 31 Cnergyico PK Limited(CNERGY)	66,672,997 ▲ 0.14
Sui South Gas / Jan 31 Sui Southern Gas Company Limited(SSGC)	48,364,956 ▼ -1.33
WorldCall Telecom / Jan 31 Worldcall Telecom Limited(WTL)	36,344,486 ▼ -0.06
Waves Home Appliances / Jan 31 Waves Home Appliances Limited(WAVESAPP)	33,226,540 ▼ -0.77
Bank Makramah / Jan 31 Bank Makramah Limited(BML)	31,509,642 ▲ 0.04
B.O.Punjab / Jan 31 The Bank of Punjab(BOP)	17,873,860 ▲ 0.2
K-Electric Ltd. / Jan 31 K-Electric Limited(KEL)	16,969,744 ▼ -0.07
Pak Refinery / Jan 31 Pakistan Refinery Limited(PRL)	16,492,313 ▼ -0.57
Treet Battery / Jan 31 Treet Battery Limited(TBL)	15,390,342 ▲ 1.07

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