News Archives for Print - 2020-02-01

Print - 2020-02-01

Articles

Understated GDP

It's no news that informal economy is significant in Pakistan. What some would not know is that within documented economy, not everything is measured in GDP computation. It can be said with confidence that GDP is significantly understated in Pakistan. Onc

Updated 02 Feb, 2020 06:49am

Global Business Economy

Damascus rations subsidised food with smart cards

Syria's government Saturday started rationing subsidised food like rice and sugar with smart cards, a ministry said, in the latest measure to address an economic crisis in the war-torn country. The value of the Syrian pound against the dollar has plummete

Updated 01 Feb, 2020 10:59pm

Pakistan offers field hospital, doctors to assist Chinese authorities

Foreign Minister Shah Mahmood Qureshi Friday held telephonic conversation with Chinese State Councilor and Foreign Minister Wang Yi and extended Pakistan's offer of sending a field hospital as well as a group of doctors to assist Chinese authorities in ef

Published 01 Feb, 2020 12:00am

'Do not travel to China', says US as virus deaths reach 213

The United States, Japan and others tightened travel curbs to virus-hit China on Friday while businesses struggled with supply problems from an epidemic that has infected nearly 10,000 people and been declared a global emergency.

Published 01 Feb, 2020 12:00am

Engro Fertilizers, FFC reduce urea prices

Engro Fertilizers and Fauji Fertilizer Company (FFC) have reduced urea prices by Rs 160 per bag and Rs 300 per bag respectively to pass on reduction in GIDC. According to the notifications of both companies, Engro, s new rates will be applicable from Satu

Published 01 Feb, 2020 12:00am

Debt, liabilities soar to Rs 41.49 trillion

Pakistan's total debt and liabilities have stood at Rs 41,489 billion on September 2019, reflecting an increase of Rs 11,610 billion over fiscal year 2018, according to Finance Ministry. Debt policy statement for fiscal year 2019-20 uploaded by the Financ

Published 01 Feb, 2020 12:00am

'Kafaalat' for 7 million poor women launched by PM

Prime Minister Imran Khan Friday launched Ehsaas Kafaalat Programme for 7 million poor women and stated that it is a step towards turning the country into a welfare state.

Published 01 Feb, 2020 12:00am

PSX makes multiple amendments to listing rules

Pakistan Stock Exchange (PSX) has made multiple amendments to Chapter 5 (Listing of Companies and Securities Regulations), Chapter 5B (Listing of Debt Securities Regulations) and Chapter 5C (Privately Placed Debt Securities' Listing Regulations) of PSX Ru

Published 01 Feb, 2020 12:00am

Travel advisory to American citizens updated: US acknowledges improvement in security situation

United States on Friday updated its travel advisory to American citizens travelling to Pakistan acknowledging improvement in security situation since 2014, a move which Pakistan welcomed as a step in the right direction. "Pakistan has noted the update in

Published 01 Feb, 2020 12:00am

Stocks

Bears rule the roost on PSX: BRIndex100 extends losses

Pakistan Stock Exchange Friday witnessed a bearish trend due to selling in various sectors. BRIndex100 lost 41.48 points or 0.94 percent to close at 4,357.07 points. BRIndex100 touched intraday high of 4,423.71 and intraday low of 4,351.51 points. Volumes

Published 01 Feb, 2020 12:00am

Divided Britain sees 'new dawn' in historic farewell to EU

Britain on Friday ends almost half a century of integration with Europe, finally making its historic departure from the EU to begin a new - but still uncertain - future, with emotions running high following years of wrangling and several false starts.

Published 01 Feb, 2020 12:00am

Senate body passes AML bill with amendments

The Senate Standing Committee on Finance Friday passed the Anti-Money Laundering (Amendment) Bill, 2019 with several amendments including increase in fine to ten million rupees and ten years imprisonment for money laundering, aimed at streamlining the exi

Published 01 Feb, 2020 12:00am

Government takes big step towards FATF challenge

The federal government has decided to take approval of the Parliament for amending 14 to 15 laws for placing an effective legal framework against money laundering and terrorist financing before the next fiscal budget. A meeting of National Executive Commi

Published 01 Feb, 2020 12:00am

In-camera session: Qureshi rules out 'deal' on Kashmir

Foreign Minister Shah Mahmood Qureshi Friday ruled out any 'deal' on Kashmir, saying it's a national cause and all the political forces are on the same page with regard to the issue. He was speaking at a special in-camera session of Parliamentary Committe

Published 01 Feb, 2020 12:00am

Afghan peace process: Pakistan, US agree to continue consultation

Pakistan and the United States agreed to continue consultation for making joint efforts for restoration of pace and stability in Afghanistan amid the latest escalation of violence in the war-torn country. This was agreed during the daylong visit of US Spe

Published 01 Feb, 2020 12:00am

Pakistan halts China flights till Sunday

As the coronavirus death toll reached over 200 and the World Health Organization (WHO) declared this epidemic as global health emergency, Pakistan Civil Aviation Authority (PCAA) has decided to suspend flight operations to and from China with immediate ef

Published 01 Feb, 2020 12:00am

Israel tightens security after Trump plan

Israel stepped up security in occupied Jerusalem's Old City Friday after US President Donald Trump enraged Palestinians with his controversial peace plan, but weekly prayers at the flashpoint Al-Aqsa mosque passed off calmly.

Published 01 Feb, 2020 12:00am

July-January period: Rs 2.4 trillion collection shows Rs 218 billion shortfall

The Federal Board of Revenue (FBR) has provisionally collected Rs 2,404 billion during July-January (2019-20) against the downward revised target of Rs 2,622 billion, reflecting a shortfall of Rs 218 billion. According to the provisional figures compiled

Published 01 Feb, 2020 12:00am

IT returns: deadline extended to February 28

Federal Board of Revenue (FBR) has extended the date for filing of income tax returns/statements by individuals, associations of persons and companies for the Tax Year 2019 up to February 28, 2020. The FBR has issued income tax circular number 1 of 2020 h

Published 01 Feb, 2020 12:00am

Government decides to reduce its involvement in LNG trade

The Pakistan Tehreek-e-Insaf (PTI) government has decided to curtail its involvement in liquefied natural gas (LNG) business while opening up this sector to private investors. Addressing an LNG conference held here on Friday, Special Assistant to Prime Mi

Published 01 Feb, 2020 12:00am

Poland inks $4.6 billion deal for US fighter jets

Poland on Friday finalised an agreement to buy dozens of F-35 fighter jets from the US in a multi-billion dollar deal aimed at revamping its air force and further strengthening close ties with Washington. The United States in September approved the $4.6-b

Published 01 Feb, 2020 12:00am

SBP revises IRF and MDR for payment cards

In order to improve payment card acceptance infrastructure in Pakistan, the State Bank of Pakistan (SBP) has revised Interchange Reimbursement Fee (IRF) and Merchant Discount Rate (MDR). According to the SBP, during the past few years, there has been cons

Published 01 Feb, 2020 12:00am

Global tax rules set for overhaul as states seek to avoid new trade war

Outdated cross-border tax rules are set to be rewritten after 137 states sought this week to avoid a new trade war over the global multiplication of taxes on digital services. Amazon, Facebook and Google have strained existing rules to breaking point beca

Published 01 Feb, 2020 12:00am

Current economic condition, consumer confidence indexes decline

Current Economic Condition (CEC) Index and Consumer Confidence Index (CCI) declined in January 2020 while there was marginal improvement in Expected Economic Condition (EEC) index - an unusual occurrence as in previous surveys the three indices moved in t

Published 01 Feb, 2020 12:00am

Petrol prices remain unchanged

The government has decided to maintain the existing prices of petroleum products for the month of February 2020, said Ministry of Finance here on Friday. The government decided that there would be no change in the prices of petroleum products and the pric

Published 01 Feb, 2020 12:00am

Letters

Privatisation: misplaced optimism?

Will the government be able to fetch at least Rs 150 billion through privatisation of six state-owned entities (SOEs), including two Re-gasified Liquefied Natural Gas (RLNG) plants, at Balloki and Haveli Bahadur Shah, with a combined generation capacity o

Published 01 Feb, 2020 12:00am

Articles

Fake news: A conundrum that demands serious discourse

Much of the discourse on 'fake news' conflates three notions. Misinformation which is unintended, or an accidental mistake in narration. Disinformation is fabricated or intentionally modified content to maliciously harm a person. Mal-information is based

Published 01 Feb, 2020 12:00am

Articles

China's achievement on anti-coronavirus R&D

The World Health Organisation announced on Jan 12, 2020 that it has received information from China on a novel coronavirus gene sequence detected from unexplained viral pneumonia cases in Wuhan. Then around seven Chinese biotech companies started developi

Updated 04 Mar, 2020 10:53am

Articles

Non-issues

Perhaps it is the lack of other forms of entertainment, or perhaps extreme polarisation is the cause, but whatever the case may be, we as a nation are infatuated with non issues. Essentially, if it is only about the economy, which it is, it is utterly rem

Published 01 Feb, 2020 12:00am

Articles

A flawed approach?

Never before has the Corruption Perception Index (CPI) global rating by Transparency International (TI) invoked so much of controversy and confusion in Pakistan. In its recently published report, TI stated that Pakistan had scored 32 on the Corruption Per

Published 01 Feb, 2020 12:00am

Clipping AGP's wings

The Pakistan Tehreek-i-Insaaf (PTI) government seems embarked on a strange effort to clip the wings of the office of the Auditor General of Pakistan (AGP). This development has come to light through a media report that quotes the AGP office's reaction to

Updated 01 Feb, 2020 07:20am

Second phase of CPEC

Prime Minister Imran Khan has directed all relevant ministries to set targets and timelines for the implementation of the second phase of China Pakistan Economic Corridor (CPEC) projects. The second phase involves requests/negotiations with China during t

Updated 01 Feb, 2020 06:52am

Business & Economy

PAC decides to digitise record

The Public Accounts Committee (PAC) of the Parliament has decided to digitalize entire record of the committee since adoption of the 1973 Constitution. A special subcommittee of the PAC met here on Friday under the chairmanship of Member of National Assem

Published 01 Feb, 2020 12:00am

Telecommunication

SC directs MoITT to decide additional frequency spectrum to Zong Mobile within a month

The Supreme Court directed Ministry of Information Technology and Telecommunication (MoITT) to decide additional frequency spectrum to CM-Pak Limited (Zong Mobile) preferably within one month. A two-judge bench, comprising Justice Maqbool Baqir and Justic

Published 01 Feb, 2020 12:00am

CJP censures Punjab government for delayed filing of appeals

Chief Justice of Pakistan (CJP) Justice Gulzar Ahmad on Friday censured the Punjab government for delayed filing of appeals against the decisions of high court. The CJP regretted the time barred appeal of the Punjab Irrigation Department and said, "What c

Published 01 Feb, 2020 12:00am

IHC disqualifies PML-N MPA

The Islamabad High Court (IHC) on Friday disqualified Pakistan Muslim League-Nawaz (PML-N) MPA Chaudhry Kashif Mehmood from Punjab for possessing a fake degree. A single bench of IHC comprising Justice Aamer Farooq announced the verdict of disqualifying t

Published 01 Feb, 2020 12:00am

Money & Banking

World Bank lauds DAGP's performance

The World Bank has appreciated the role of Department of Auditor General of Pakistan (DAGP) in improving overall public sector financial management in the country. A seven-member delegation from World Bank (WB) headed by Edward Olowo-Okere, Global Directo

Published 01 Feb, 2020 12:00am

Coronavirus in Pakistan: Senators ask government to take practical steps to prevent outbreak

Senators on Friday expressed concern over the outbreak of coronavirus in China, demanding the government to take practical steps to prevent the outbreak of this epidemic in Pakistan while Chairman Senate Sadiq Sanjrani said that Pakistan should "stand sho

Published 01 Feb, 2020 12:00am

Money & Banking

DPC delists MUFG Bank

Deposit Protection Corporation (DPC) has delisted MUFG Bank Ltd as member institution with effect from January 31, 2020. According to an announcement by DPC, the State Bank of Pakistan (SBP) has de-scheduled MUFG Bank Ltd as a banking company with effect

Published 01 Feb, 2020 12:00am

Business & Economy

New power tariffs to badly affect export sector: PBIF

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said that the export sector is being threatened with disconnections while the exporters may not be able to fulfil their commitments after the new power tariff which will

Published 01 Feb, 2020 12:00am

Coronavirus: Healthcare facilities struggle to arrange kits for patients' screening

With the declaration of novel coronavirus a global emergency by the World Health Organisation (WHO), public and private sector healthcare facilities are struggling to manage the testing kits to screen the patients carrying symptoms of deadly virus, Bus

Published 01 Feb, 2020 12:00am

Energy
Clarification

The spokesperson for Power Division while clarifying a news item "Govt-IPP out-of-court settlement agreement in limbo" carried by Business Recorder yesterday termed it as factually incorrect. The spokesperson said that the summary on the matter has
Published 01 Feb, 2020 12:00am

Taxes
Consignments from China: APCAA concerned at suspension of goods' clearance

All Pakistan Customs Agents Association (APCAA) has expressed concerns over the suspension of the clearance of all consignments imported from China for fumigation purpose instead of only those consignments imported from its affected areas.
Published 01 Feb, 2020 12:00am

Ghani reviews progress of health, educational facilities under SESSI

Sindh Minister for Information and Labour Saeed Ghani has said that the Sindh government had always given priority to provide quality education and modern health facilities under Sindh Employees Social Security Institution (SESSI) hospitals and educationa
Published 01 Feb, 2020 12:00am

Energy
OGDCL achieves yet another milestone

VIS Credit Rating Company Limited (VIS) has reaffirmed entity ratings of Oil & Gas Development Company Limited (OGDCL) at 'AAA/A-1+' (Triple A/A-One Plus). The medium to long-term rating of 'AAA' denotes highest credit quality, with negligible risk factor
Published 01 Feb, 2020 12:00am

College endowment: SHC orders secretary finance to submit five-year breakup

Sindh High Court (SHC) has ordered provincial Secretary Finance to submit complete breakup of last five years of summaries approved and amount released for individuals from allocated amount for endowment of college education.
Published 01 Feb, 2020 12:00am

Sate-of-the-art play area donated to Dar-ul-Sukun Hyderabad

A.A Joyland and Dar-ul-Sukun has donated an interactive and state-of-the-art soft play area to Dar-ul-Sukun Hyderabad for underprivileged children to recreate and have a fun time for themselves.
Published 01 Feb, 2020 12:00am

Business & Economy
Shazad Dada elected OICCI President

Shazad Dada, Chief Executive Officer, Standard Chartered Bank Pakistan Limited has taken over as the President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2020 term. This was announced at the 160th Annual General Meeting of
Published 01 Feb, 2020 12:00am

Elahi asks PTI to honour promises made with allies

Punjab Assembly Speaker Chaudhry Pervaiz Elahi on Friday said that the Pakistan Tehreek-e-Insaf (PTI) should honor the promises made with its allies.
Published 01 Feb, 2020 12:00am

Taxes
Cabinet okays changes in IInd Schedule of Punjab ST on Services Act 2012

Punjab Cabinet which met with Chief Minister Sardar Usman Buzdar in the chair approved the Punjab Electronic Invoice Monitoring System Rules 2019 and the amendment in the IInd Schedule of Punjab Sales Tax on Services Act 2012, which would facilitate the c
Published 01 Feb, 2020 12:00am

Business & Economy
Sundar Industrial Estate: EPA directed to conduct survey for installation of ETP

Former Justice Ali Akabr, Chairman Judicial Water & Environment Commission has directed the Environment Protection Agency (EPA) high-ups to conduct a detailed survey in Sundar Industrial Estate (SIE) and decide a fix time line with the consultation of ind
Published 01 Feb, 2020 12:00am

Pakistan not signed 'Budapest Convention' on cybercrime: LHC told

The interior ministry on Friday informed the Lahore High Court that Pakistan had not signed "Budapest Convention" on cybercrime as Israel was also a signatory of it. Chief Justice Mamoon Rashid Sheikh while hearing the petition against hate material on so
Published 01 Feb, 2020 12:00am

Tetra Pak packaging material factory Lahore receives top award

Tetra Pak's packaging material factory in Lahore has received the world's top award for manufacturing excellence. In doing so, it becomes the 24th factory worldwide to win the prestigious award. Appraised by the Japan Institute of Plant Maintenance, the W
Published 01 Feb, 2020 12:00am

Business & Economy
TCL launches C8 4K UHD Android TV in Pakistan

TCL, and one of the world's top three TV brands, has marked the launch of its brand-new Android TV in Pakistan with the introduction of C8. TCL C8 4K UHD TV features advanced AI technology that uses Android P OS, HDR10+, Dolby Vision, Dolby Vision, an Onk
Published 01 Feb, 2020 12:00am

Business & Economy
FEBR for harmony between FBR & PRA

The Friends of Business and Economic Reforms (FEBR) has demanded harmonization between Federal Board of Revenue (FBR) and Punjab Revenue Authority (PRA) with a view for simplification of tax returns, reducing burden of filing extra returns from the taxpay
Published 01 Feb, 2020 12:00am

Business & Economy
Hyundai Porter H-100 pickup delivered to local distributor company

An impressive handing-over ceremony of 45 units of Porter H-100 pickup to M/sShan Distributors & Shan Marketing Services was held at Hyundai Nishat Motor Pvt Ltd, plant, Faisalabad.
Published 01 Feb, 2020 12:00am

Money & Banking
FWBL's flagship branch opens in Faisalabad

First Women Bank inaugurated its flagship corporate branch in Faisalabad's prominent commercial hub at Civil Lines. The branch was inaugurated by the young business woman Hania Javed, Director of Sitara Energy. The ceremony was also attended by an overwhe
Published 01 Feb, 2020 12:00am

Rice exporters seek preferential duty tariff from Kenya

Pakistani exporters have requested Kenyan authorities for a preferential duty tariff for rice, so that they can increase the rice export volume to Kenya. They also proposed that Kenya Ministry of Foreign Affairs and Ministry of Industry must establish a R
Published 01 Feb, 2020 12:00am

Money & Banking
Talib Rizvi joins Apna Microfinance Bank Limited

Senior banker Talib Rizvi has joined Apna Microfinance Bank Limited (AMBL) as Special Advisor to the chairman of the institution. Rizvi has twenty-four years of experience and has served in a number of leading commercial banks of the country, said a press
Published 01 Feb, 2020 12:00am

Taxes
Transfers, postings in FBR

Federal Board of Revenue (FBR) has transferred and posted 13 senior officials of Pakistan Customs Service (BS-20-22) with immediate effect. According to a notification issued by the FBR here on Friday, Javed Ghani (PCS/BS-22) Member (Customs Policy), FBR,
Published 01 Feb, 2020 12:00am

Judge video scandal: ATC grants bail to accused

The Anti-Terrorism Court (ATC) on Friday granted bail to one of the accused of the controversial video case related to former Accountability Court Judge Arshad Malik. The ATC Judge Raja Jawwad Abbasi while hearing the bail application of accused Raza Khan
Published 01 Feb, 2020 12:00am

Stocks
SECP chief assures IAP of implementing IFRS-17 through consultation

The Insurance Association of Pakistan (IAP) held two separate consultative meetings of the non-life insurance sector and life insurance sector with the Chairman SECP, Aamir Khan on January 30, 2020 at Karachi. The comprehensive discussions involved challe
Published 01 Feb, 2020 12:00am

Students in Wuhan: IHC reserves verdict over maintainability of petition seeking directives for government

The Islamabad High Court (IHC) Friday reserved its verdict over maintainability of a petition seeking directives for the government to make arrangements to evacuate Pakistani students from Wuhan, the epicenter of the deadly coronavirus outbreak.
Published 01 Feb, 2020 12:00am

KPC team meets governor

A delegation of newly elected officials and senior members of Karachi Press Club (KPC) met with Sindh Governor Imran Ismail here at the Governor's House on Friday. The delegation was led by President of the Club Imtiaz Khan, said a statement. Other member
Published 01 Feb, 2020 12:00am

Money & Banking
PRISM system: Banks allowed to use 'MT 102' message for free

In order to reduce the turnaround time, banks have been allowed to use MT 102 message in Pakistan Real-time Interbank Settlement Mechanism (PRISM) system free of charges for clearing. Previously it was advised that in cities or towns where Clearing House
Published 01 Feb, 2020 12:00am

Stocks
Clients asked to file claims: TRE Certificate of AMCAP Securities forfeited by PSX

The Board of Directors of Pakistan Stock Exchange (PSX) constituted a sub-committee for providing hearing opportunity to AMCAP under clause 20.1.1 of PSX Regulations in the matter of forfeiture of the latter's TRE Certificate and observed that despite lap
Published 01 Feb, 2020 12:00am

Business & Economy
Deceptive marketing practices: Rs 5 million fine imposed on company

The Competition Commission of Pakistan (CCP) has imposed PKR 5 million penalties on Irshad Trading Corporation for copying the registered trademark, brand name and other designs of Polycon Pakistan, in violation of Section 10 of the Competition Act, 2010.
Published 01 Feb, 2020 12:00am

Business & Economy
PIA losses hugely reduced: claims minister

The award of Rs 700 million contract for up-gradation of in-flight entertainment (IFE) in eight ageing Boeing 777 aircraft to a local company by Pakistan International Airlines (PIA) echoed in National Assembly on Friday.
Published 01 Feb, 2020 12:00am

NTC initiates study on steel sector

The National Tariff Commission (the "Commission"), in view of various request filed by domestic manufacturers and user industries of long steel products and flat steel products, has initiated a sectoral study under Section 8 of the National Tariff Commiss
Published 01 Feb, 2020 12:00am

Arrest of drivers: SHC issues notices to provincial authorities

Sindh High Court (SHC) on Friday issued notices to provincial authorities on a petition, filed against the arrest of drivers for wrong way driving.
Published 01 Feb, 2020 12:00am

Government fails to implement ban on use of plastic shopping bags

The federal government has failed to implement ban on use of plastic and polythene shopping bags in the city despite passage of over five months.
Published 01 Feb, 2020 12:00am

Energy
Recovery, T&D losses: Senate panel reprimand Power Division for providing misleading figures

A Senate panel Friday questioned the existence of the Power Division with the current level of worst-ever performance coupled with misleading figures of recovery and Transmission and Distribution (T&D) losses.
Published 01 Feb, 2020 12:00am

Business & Economy
Renewal collection contest: Pak Qatar Takaful holds lucky draw

Pak-Qatar Family Takaful Limited (PQFTL) held a lucky draw for gifts worth millions of rupees (including brand new motorcycles) for its valued participants all over Pakistan. The Renewal Collection Contest (Izaafi Faida Inaami Scheme) allowed the particip
Published 01 Feb, 2020 12:00am

Articles
Partly Facetious: Dr Jekyll or Mr Hyde?

"So what do you reckon - Dr Jekyll or Mr Hyde?"
Published 01 Feb, 2020 12:00am

EU court says no jurisdiction over Slovenia, Croatia border row

EU's Court of Justice said Friday it lacked jurisdiction to rule on a border row between Slovenia and Croatia but urged the two nations to work to resolve the long-standing issue. Slovenia filed the case against Croatia with the Luxembourg-based court in
Published 01 Feb, 2020 12:00am

Pompeo vows unwavering US support during delicate Ukraine visit

US Secretary of State Mike Pompeo said Washington's support for Ukraine was unwavering during a delicate visit Friday to the country at the heart of the US impeachment process. After talks with Pompeo, Ukrainian President Volodymyr Zelensky said he apprec
Published 01 Feb, 2020 12:00am

Trump lifts restrictions on anti-personnel landmines

President Donald Trump on Friday lifted US restrictions on deployment of landmines, saying a new generation of high-tech explosives would improve security for US forces. In the latest reversal of a policy of his predecessor Barack Obama, Trump gave the gr
Published 01 Feb, 2020 12:00am

US appoints special envoy for South Sudan crisis

The United States on Friday named a special envoy to seek progress in the crisis in South Sudan, whose rival leaders have repeatedly missed deadlines to end their devastating conflict. The State Department said that Stuart Symington, a retired ambassador
Published 01 Feb, 2020 12:00am

Thousands in Jordan protest US peace plan

Thousands of Jordanians protested Friday in the capital Amman against US President Donald Trump's Middle East peace plan and set fire to the Israeli flag. Chanting "Death to Israel", about 3,000 people took part in the demonstration, which started in fron
Published 01 Feb, 2020 12:00am

Indonesia deports US journalist

Indonesia has deported an American journalist working for a website that reported on sensitive environmental issues in the Southeast Asian archipelago over an alleged visa violation, his employer said Friday. Philip Jacobson, 30, was initially detained la
Published 01 Feb, 2020 12:00am

Star quality: telescope captures Sun in greatest detail ever

A huge telescope built on the peak of a Hawaiian island has produced pictures of the Sun's surface in unprecedented detail, revealing boiling plasma cells the size of Texas. For the telescope's director, that's only just the beginning.
Published 01 Feb, 2020 12:00am

Erdogan hits out at Arab 'treason' over Trump plan

Turkish President Recep Tayyip Erdogan on Friday blasted several Arab countries for backing a Middle East peace plan unveiled by the United States, condemning it as "treason."
Published 01 Feb, 2020 12:00am

US soldiers hurt in Iran missile strike up to 64: Pentagon

The number of US troops injured by an Iranian missile strike in Iraq this month has risen to 64, according to new figures released by the Pentagon. US President Donald Trump had initially said no Americans were hurt by the missiles fired on a base housing
Published 01 Feb, 2020 12:00am

Syria regime on verge of recapturing Idlib highway town

Syrian regime forces were poised Friday to retake the rebel-held town of Saraqeb in the country's northwest where battles this week killed more than 400 combatants, a monitor said. Russian-backed regime forces have advanced with a double-pronged push in t
Published 01 Feb, 2020 12:00am

Iran says new US sanctions will have 'no effect'

New American sanctions against Iran's nuclear programme will have "no effect", Iranian foreign ministry spokesman Abbas Mousavi said Friday. Washington announced new sanctions on Thursday against the Atomic Energy Organisation of Iran and its head Ali Akb
Published 01 Feb, 2020 12:00am

Money & Banking
Battered currencies arrest slide in Asia

Asian currencies steadied their slide on Friday, as World Health Organization confidence in China's response to a rapidly-spreading new virus tempered worries over a jump in infections. The WHO said late Thursday that the coronavirus outbreak was a global
Published 01 Feb, 2020 12:00am

Money & Banking
Trade-linked currencies fall in Europe

The Australian dollar fell to a four-month low on Friday while China's offshore yuan struggled to find a footing on concerns about the economic impact of a virus inside and outside China. The World Health Organisation said late on Thursday that the corona
Published 01 Feb, 2020 12:00am

Money & Banking
Early trade in New York: Yen, Swiss franc rise

The safe-haven yen and Swiss franc gained on Friday as fears escalated about the global economic impact of the latest coronavirus outbreak in China last week. The Australian dollar fell to a four-month low against the US dollar, while China's offshore yua
Published 01 Feb, 2020 12:00am

Money & Banking
Weak US data ends dollar's safe-haven rally in New York

The US dollar fell Thursday on news that the American economy in 2019 posted its slowest annual growth in three years and that personal consumption weakened dramatically, ending the currency's rally on safe-haven demand from worries about economic fallout
Published 01 Feb, 2020 12:00am

Money & Banking
Aussie, kiwi set for biggest weekly loss

The Australian and New Zealand dollars loitered near multi-month lows on Friday, poised for their worst weekly losses since last September, as the export-led currencies bore the brunt of selling over the spreading China virus. The Australian dollar, often
Published 01 Feb, 2020 12:00am

Money & Banking
Asian forex: Units set to post weekly losses

Most Asian currencies were set to record weekly losses on Friday as risk sentiment took a hit on fears that the rapidly-spreading coronavirus in China could hurt its economy. Amid persisting concerns about the outbreak, which has killed more than 200 peop
Published 01 Feb, 2020 12:00am

Money & Banking
Brazil's real hits all time low against dollar

Brazil's real slid to a fresh record low against the dollar on Friday, on track for one of its biggest monthly falls since the 2015-16 recession as traders tested the central bank's resolve not to intervene in the face of the depreciating exchange rate.
Published 01 Feb, 2020 12:00am

Money & Banking
South Africa's rand tumbles to 11-week low

South Africa's rand kept tumbling on Friday, sliding to a new 12-week low after the World Health Organization declared the coronavirus a global emergency, compounding local economic issues faced by the currency. At 1500 GMT the rand was 1.31% weaker at 14
Published 01 Feb, 2020 12:00am

Money & Banking
Sterling set for biggest weekly gain in a month

The British pound extended its rally on Friday and was on track for its biggest weekly gain in a month after the Bank of England's decision to keep interest rates steady on signs of a post-election pick-up in growth. But analysts said the rally may be sho
Published 01 Feb, 2020 12:00am

Cricket
India snatch another super over T20 victory against New Zealand

India snatched the fourth Twenty20 against New Zealand on Friday after yet another super over was needed to separate the two sides after the scores were tied following the regulation 20 overs. New Zealand, batting first in the decider, made 13 with Tim Se
Published 01 Feb, 2020 12:00am

Cricket
Mendis century defies Zimbabwe as Sri Lanka win series

Sri Lanka batsman Kusal Mendis frustrated Zimbabwe's hopes of a series-levelling win at the Harare Sports Club Ground with a stubborn 116 not out as the second Test petered out to a draw on Friday. Sri Lanka's 10-wicket win in the first Test last week at
Published 01 Feb, 2020 12:00am

Cricket
Tower Sports and SportzWorkz named HBP PSL-2020 broadcast production partner

The Pakistan Cricket Board (PCB) has announced the consortium of Tower Sports and SportzWorkz as its broadcast production partner for the HBL Pakistan Super League 2020, which will be held across Karachi, Lahore, Multan and Rawalpindi from 20 February to
Published 01 Feb, 2020 12:00am

Other
Diaz, Akhmadaliev win titles in boxing upsets

Unbeaten Murodjon Akhmadaliev won his first title in just his eighth career fight with a split decision victory over Daniel Roman on Thursday to capture Roman's WBA and IBF junior featherweight belts. Akhmadaliev won 115-113 on two scorecards, and Roman w
Published 01 Feb, 2020 12:00am

Cricket
Gayle takes his big hitting to Nepal's T20 league

West Indies batting hero Chris Gayle has become the biggest international star to sign up for Nepal's Twenty20 league. The self-proclaimed king of T20 announced late Thursday that he will join Pokhara Rhinos in the Everest Premier League (EPL) that is pre
Published 01 Feb, 2020 12:00am

Cricket
Iqbal Qasim to head PCB's Cricket Committee

Former Test spinner Iqbal Qasim will head the revamped Pakistan Cricket Board (PCB)'s Cricket Committee, which will meet on a quarterly basis, it was announced on Friday.
Published 01 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency Rate

USD PKR Interbank Selling / Dec 20

278.48

USD PKR Interbank Buying / Dec 20

278.28

USD to Japanese Yen / Dec 20

156.31

USD to Swiss Franc / Dec 20

0.89

Pound Sterling to USD / Dec 20

1.26

Euro to USD / Dec 20

1.04

Stock Volume

S&P 500 / Dec 20

5,930.85

India Sensex / Dec 20

78,041.59

Tokyo Nikkei / Dec 20

38,701.90

Nasdaq / Dec 20

19,572.60

Hang Seng / Dec 20

19,720.70

FTSE 100 / Dec 20

8,084.36

Dow Jones / Dec 20

42,840.26

Germany DAX 30 / Dec 20

19,884.75

Item Value

Crude Oil USD/Barrel / Dec 20

69.46

Gold 10 Grams PKR / Dec 20

234,311

Gold Spot USD/Ounce / Dec 20

2,622.91

Cotton US¢/pound / Dec 20

68.06

Karachi Cotton PKR/37.32 KG / Dec 21

17,585

Petrol/Litre / Dec 22

252.10

Gainers
Losers
Leaders

Stock Price

Media Times Ltd / Dec 20

Media Times Limited(MDTL)

2.37

▲ 0.37 (18.50%)

Pace (Pak) Ltd. / Dec 20

Pace (Pakistan) Limited(PACE)

7.23

▲ 1.00 (16.05%)

Ist.Capital Sec / Dec 20

First Capital Securities Corporation(FCSC)

2.12

▲ 0.26 (13.98%)

Khalid Siraj / Dec 20

Khalid Siraj Textile Mills Limited(KSTM)

9.60

▲ 0.97 (11.24%)

Aruj Industries / Dec 20

Aruj Industries Limited(ARUJ)

9.90

▲ 0.98 (10.99%)

Escorts Bank / Dec 20

Escorts Investment Bank Limited(ESBL)

4.79

▲ 0.47 (10.88%)

Cresent Jute / Dec 20

Crescent Jute Products Limited(CJPL)

4.20

▲ 0.40 (10.53%)

S.G.Power / Dec 20

S.G. Power Limited(SGPL)

11.19

▲ 1.02 (10.03%)

P.T.C.L. / Dec 20

Pakistan Telecommunication Company Ltd(PTC)

25.80

▲ 2.35 (10.02%)

Stock Price

LSE Financial Serv. / Dec 20

LSE Financial Services Limited(LSEFSL)

16.25

▼ -1.81 (-10.02%)

Dar-es-Salaam / Dec 20

Dar-es-Salaam Textile Mills Limited(DSML)

41.93

▼ -4.66 (-10.00%)

Maqbool Tex. / Dec 20

Maqbool Textile Mills Limited(MQTM)

31.05

▼ -3.45 (-10.00%)

Reliance Cotton / Dec 20

Reliance Cotton Spinning Mills Limited(RCML)

621

▼ -69.00 (-10.00%)

Sanghar Sugar / Dec 20

Sanghar Sugar Mills Limited(SANSM)

27.72

▼ -3.08 (-10.00%)

Olympia Mills / Dec 20

Olympia Mills Limited(OML)

34.58

▼ -3.84 (-9.99%)

Nagina Cot. / Dec 20

Nagina Cotton Mills Limited(NAGC)

48.92

▼ -5.41 (-9.96%)

Oilboy Energy / Dec 20

Oilboy Energy Limited(OBOY)

11.39

▼ -1.26 (-9.96%)

Arpak Int. / Dec 20

Arpak International Investments Ltd.(ARPAK)

65.22

▼ -7.19 (-9.93%)

Stock Volume

WorldCall Telecom / Dec 20

Worldcall Telecom Limited(WTL)

177,645,248

▲ 0.10

K-Electric Ltd. / Dec 20

K-Electric Limited(KEL)

81,901,542

▲ 0.16

Cnergyico PK / Dec 20

Cnergyico PK Limited(CNERGY)

68,345,098

▲ 0.12

Pak Elektron / Dec 20

Pak Elektron Limited(PAEL)

57,974,101

▲ 1.47

Pak Refinery / Dec 20

Pakistan Refinery Limited(PRL)

45,251,944

▲ 0.40

Pace (Pak) Ltd. / Dec 20

Pace (Pakistan) Limited(PACE)

43,240,462

▲ 1.00

Sui South Gas / Dec 20

Sui Southern Gas Company Limited(SSGC)

40,539,001

▼ -0.74

B.O.Punjab / Dec 20

The Bank of Punjab(BOP)

35,598,669

▲ 0.24

Symmetry Group / Dec 20

Symmetry Group Limited(SYM)

34,869,613

▼ -0.72

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Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72