News Archives for Print - 2020-02-05

Print - 2020-02-05

Holiday Notice

The offices of Business Recorder will remain closed today, Wednesday (February 5) on account of KASHMIR DAY. Arrangements have, however, been made to bring out the newspaper and web edition tomorrow Thursday (February 6), as usual.

Published 05 Feb, 2020 12:00am

Fight against polio: COAS praises Rotary International's efforts

Chief of the Army Staff General Qamar Bajwa praised the efforts of Rotary International in Pakistan's fight against polio. According to ISPR, the army chief met with Rotary International's four-member team and measures related to healthcare in Pakistan an

Published 05 Feb, 2020 12:00am

Importers not interested in importing duty-free wheat: ministry

The Min-istry of National Food Security and Research Tuesday informed a parliamentary panel that importers are not interested in 0.3 million tons duty-free import of wheat owing to uncertainty in the market. Federal Secretary for National Food Security &

Published 05 Feb, 2020 12:00am

ECC once again defers increase in gas prices

The Economic Coordination Committee (ECC) of the Cabinet has once again deferred increase in gas prices from February 1, 2020 and wants commitment from the fertilizer industry that it would not increase urea prices.

Published 05 Feb, 2020 12:00am

World has 'window of opportunity' to halt virus spread: WHO chief

The dramatic measures taken by China to rein in the deadly new coronavirus outbreak have prevented significant spread abroad, providing a "window of opportunity" to halt transmission, the World Health Organization said Tuesday.

Published 05 Feb, 2020 12:00am

FBR can collect only Rs 4.5 trillion, IMF told

The Federal Board of Revenue (FBR) Tuesday informed International Monetary Fund (IMF) that the tax machinery would be able to collect around Rs 4.5 trillion during 2019-20 keeping in view current economic situation and without taking additional revenue me

Published 05 Feb, 2020 12:00am

Fund not satisfied with power sector's performance

The visiting International Monetary Fund (IMF) on Tuesday discussed progress in energy sector reforms, circular debt and power tariff fixation mechanism along with other issues which are part of the programme.

Published 05 Feb, 2020 12:00am

Fiscal deficit under IMF microscope

The government will come under pressure to convince the International Monetary Fund (IMF) it can bring down a ballooning fiscal deficit, as a review on the future course of its $6 billion financial aid program gets under way.

Published 05 Feb, 2020 12:00am

Bank holiday

The State Bank of Pakistan (SBP) and all banks will remain closed on 5th February, 2020 (Wednesday) on the occasion of "Kashmir Day" as declared by the Government of Pakistan.

Published 05 Feb, 2020 12:00am

Power bills: NA panel for suspending recovery of arrears

As the Power Division was unable to satisfy the committee on issuance of notification to impose surcharges, taxes and positive fuel adjustment on export-oriented sectors without approval of the Economic Coordination Committee (ECC) of the Cabinet, the Fin

Published 05 Feb, 2020 12:00am

Stocks

PSX stages recovery: BRIndex100 retreats

Pakistan Stock Exchange Tuesday partially recovered its overnight losses on the back of fresh buying, mainly by local investors. BRIndex100 gained 60.57 points or 1.44 percent to close at 4,276.29 points. BRIndex100 touched intraday high of 4,284.73 and i

Published 05 Feb, 2020 12:00am

Fund giant Vanguard bypasses banks with forex algos

Vanguard, the $5.6 trillion asset manager, plans to start using computer-run algorithms this year to trade FX directly with other funds, depriving banks of some of the fees they earn as the middlemen in currency deals.

Published 05 Feb, 2020 12:00am

Capital market, NBFCs and insurance sector: SECP, FBR hammer out major changes in tax laws

The Secur-ities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) are jointly working out major changes in tax laws to introduce multifaceted reforms for the development of capital market, non-banking finance companies and

Published 05 Feb, 2020 12:00am

Skipping KL summit: Imran says no impact of relations with Muslim states

Prime Minister Imran Khan on Tuesday said he would attend the next Kuala Lumpur Summit as the outcome of previous meet, cleared misconception about it of dividing the Muslim Ummah.

Published 05 Feb, 2020 12:00am

PM, Mahathir agree to explore trade, investment potential

Prime Minister Imran Khan and his Malaysian counterpart Mahathir Mohammed on Tuesday agreed to explore trade and investment potential of their countries for a relationship based on strong economic cooperation. The two leaders at a joint press conference a

Published 05 Feb, 2020 12:00am

PM pledges to buy more palm oil from Malaysia

Pakistan will buy more palm oil from Malaysia, Prime Minister Imran Khan said on Tuesday, to try and compensate after top buyer India put curbs on Malaysian imports last month amid a diplomatic row. India imposed general restrictions on refined palm oil i

Published 05 Feb, 2020 12:00am

Kashmir 'Solidarity Day' today

'Kashmir Solidarity Day' is being marked today (Wednesday) with a resolve to continue extending all out support to the people of Indian held Kashmir, who are struggling for more than seven decades to get their legitimate right to self-determination.

Published 05 Feb, 2020 12:00am

Audits of CCIR, CRTO: Contrary to SC order, FBR allows time extension

Contrary to the directives of the Supreme Court of Pakistan, the Federal Board of Revenue (FBR) has allowed extension in time for finalization of pending 459 audits of CCIR, CRTO, Karachi for the Tax Year 2014 till June 30, 2020.

Published 05 Feb, 2020 12:00am

MCB Bank's profit before tax soars to Rs 40 billion

The Board of Directors of MCB Bank Limited met under the chairmanship of Mian Mohammad Mansha on Tuesday, to review the performance of the Bank and approved the financial statements for the year ended December 31, 2019. The Board of Directors has declared

Published 05 Feb, 2020 12:00am

Democrats turn sights on New Hampshire after Iowa fiasco

Democratic candidates were anxiously awaiting results from the Iowa caucuses on Tuesday after technical glitches plunged the kickoff vote of the US presidential nominating contest into chaos, drawing the mockery of President Donald Trump.

Published 05 Feb, 2020 12:00am

Sindh government to offer 'good' wheat support price

The provincial Cabinet Tuesday decided to offer substantial support price for wheat besides purchasing 37 percent total [wheat] production from each and every district so that farmers could be supported, however, the support price would be announced once

Published 05 Feb, 2020 12:00am

UNSC to meet with Kushner on Mideast plan

The United States has requested a closed door UN Security Council meeting Thursday for President Donald Trump's son-in-law and adviser, Jared Kushner, to present the administration's new Mideast peace plan, diplomatic sources told AFP Monday. Kushner inte

Published 05 Feb, 2020 12:00am

27 state properties: CCoP allows open auction bidding

The Cabinet Committee on Privatisation (CCoP) has allowed open auction bidding for 27 land assets owned by federal government entities in pursuance of a federal cabinet decision to dispose of unproductive state lands and assets.

Published 05 Feb, 2020 12:00am

Letters

Arab League deserves praise

The Arab League has rejected Trump's Mideast plan. What else the League had to do? How could this body of Arab states accord approval to President Trump's so-called peace plan when it does not meet the minimum rights of Palestinians? The plan is an open v

Published 05 Feb, 2020 12:00am

Articles

Coronavirus could also sicken global economy

The rapid spread of a new coronavirus in China, the world's second largest economy, could rapidly weaken already fragile global growth as trade and oil demand slow, analysts say. The world economy could do without this new problem, after suffering from a

Published 05 Feb, 2020 12:00am

Articles

Structured access to IMF

The principle of international economic law prescribes foreign exchange stability of the member countries and it recognizes that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, s

Published 05 Feb, 2020 12:00am

Articles

Learning through technology

Without adequate energy supplies, adequate capital and adequate availability of technology no country can stand on its own two feet and protect its sovereignty from being eroded by those on whom such countries, depend for dole.

Published 05 Feb, 2020 12:00am

Plight of federal capital

Encroaching upon others' rights and properties is something that seems to have acquired the status of our national norm. It is, therefore, interesting to note that some foreign missions in the capital, too, have contracted this scourge. According to the C

Updated 06 Feb, 2020 06:21am

The locust threat

Swarms of locust are in Sindh and Balochistan since October but only now Federal Minister for National Food Security Makhdoom Khusro Bakhtiar has admitted the presence of this 'Biblical plague' in Pakistan, and that too in response to a question raised by

Updated 06 Feb, 2020 06:00am

Senate body approves special report

Senate Functional Committee on Devolution on Tuesday approved a special report of the Senate Functional Committee on Devolution. The meeting chaired by Senator Moula Bux Chandio, expressed displeasure over the continuous absence of the Minister for Inter

Published 05 Feb, 2020 12:00am

Business & Economy

Grade 1 to 22 employees: SC asks federal government to pay 20 percent special allowance

The Supreme Court on Tuesday ordered the federal government to pay 20 percent special allowance to all the employees from grade 1 to 22, working in attached and subordinate departments of federal government.

Published 05 Feb, 2020 12:00am

Khaqan terms PTI's government 'a group of thieves'

Former Prime Minister Shahid Khaqan Abbasi on Tuesday declared Pakistan Tehreek-e-Inasf (PTI's) government a 'group of thieves, who have been installed to loot the people' of the country.

Published 05 Feb, 2020 12:00am

English Access Micro-scholarship programme: CG Toney visits SBBWU Peshawar

The United States is helping to inspire and empower the next generation of women leaders in Pakistan. US Consul General (CG) in Peshawar Sebron "CB" Toney visited Shaheed Benazir Bhutto Women University (SBBWU) Peshawar to celebrate America's commitment o

Published 05 Feb, 2020 12:00am

Indian diplomat summoned over ceasefire violations

Pakistan summoned a senior Indian diplomat on Tuesday and registered a strong protest over the ceasefire violations by Indian troops along the Line of Control (LoC), resulting in serious injuries to four innocent civilians.

Published 05 Feb, 2020 12:00am

'Fight against poverty and corrupt mafia, my vision': PM

Prime Minister Imran Khan on Tuesday said his vision for Pakistan was to bring people out of poverty and fight the mafia, involved in corruption.

Published 05 Feb, 2020 12:00am

Tayyaba torture case: Review petition filed against SC judgment

Raja Khurram Ali Khan, former Additional District & Sessions Judge, Islamabad on Tuesday filed a review petition against Supreme Court judgment in Tayyaba torture case.

Published 05 Feb, 2020 12:00am

Government taking concrete steps to internationalize Kashmir issue: Shafqat

India, under the ruling Bharatiya Janata Party, has been gripped by a wave of fascism and Hindutva ideology and is committing genocide of the innocent Muslims. This was stated by Shafqat Mehmood, Minister for Federal Education and Professional Training wh

Published 05 Feb, 2020 12:00am

24th Convocation of Hamdard University on February 29

The 24th Convocation of Hamdard University will be held on Saturday February 29, 2020 at 4.00 pm at the main campus of University, Madinat al-Hikmah, Karachi. The Chief Guest will preside over the Convocation, in which diplomats, elite of the city, distin

Published 05 Feb, 2020 12:00am

Murad urges youth to expose real face of Indian democracy, secularism

Federal Minister for Communications Murad Saeed on Tuesday urged the youth to play effective role in sharing continued Indian atrocities against the people of Indian Held Kashmir (IHK) on social media to expose the real face of Indian democracy and secula

Published 05 Feb, 2020 12:00am

New Delhi has deprived Kashmiris of their right to identity: NA Speaker

Speaker National Assembly Asad Qaiser has said that the Indian government had deprived its citizens specially the people of Kashmir of their right to Identity through legal means.

Published 05 Feb, 2020 12:00am

Massive rally taken out in support of Kashmiris

A colossal rally was taken out at SU to demonstrate solidarity to people of Kashmir a day prior Kashmir Solidarity Day. The rally was organized by Shah Latif panel of the varsity's employees, and it was led by VC-SU Prof Dr Fateh Muhammad Burfat with pro

Published 05 Feb, 2020 12:00am

Bilawal threatens to launch 'countrywide protest' against IMF deal

Pakistan People's Party (PPP) chairman Bilawal Bhutto Zardari on Tuesday warned the government of a "countrywide protest" if it does not renegotiate its deal with the International Monetary Fund (IMF). The PPP chairman was speaking at the inauguration eve

Published 05 Feb, 2020 12:00am

Energy

January 2020: Oil sales down 13 percent YoY

The oil consumption in January 2020 has declined by 13 percent on year-on-year basis. This drop in oil sales was largely driven by 40 percent lower furnace oil (FO) sales due to government's policy of moving away from FO-based power generation and 11 perc

Published 05 Feb, 2020 12:00am

Fruits & vegetables: PFVA starts collecting market intelligence to enhance exports to Africa

All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) has started collecting marketing intelligence to enhance export of fruits & vegetables to the African countries by better understanding demands of this specific market

Published 05 Feb, 2020 12:00am

Cotton & Textile

July-December period: Textile machinery import down 8.34 percent

Import of textile machinery scaled back by 8.34 percent to $231.947 million in Jul-Dec 2019-20, official figures said. Fall in textile machinery now comes to the tune of $21.107 million in Jul-Dec 2019-20 from $253.054 million in Jul-Dec 2018-19, Pakistan

Published 05 Feb, 2020 12:00am

Karachi Registry: SC to hear important cases tomorrow

The Supreme Court has fixed important cases for hearing on February 06, 2020 at Karachi Registry related to metropolis. The cause list issued by the Supreme Court for cases at Karachi Registry showed SC bench headed by Chief Justice of Pakistan (CJP) Gulz

Published 05 Feb, 2020 12:00am

'Kashmir Solidarity Day' held at PIA Head Office

A large number of PIA employees gathered at airline's Head Office, Karachi to express solidarity with the people of Kashmir. PIA employees, PIA Boy Scouts and PIA model school students were holding Pakistan and Kashmir flags while the National anthem of b

Published 05 Feb, 2020 12:00am

Maria Amor visits Mazar-e-Quaid

Crown Princess of the Royal Kingdom of Maharlika Darussalam (Philippines) Princess Maria Amor Torres Tuesday paid visit to the mausoleum of Father of the Nation, Quaid-e-Azam Muhammad Ali Jinnah here. She laid floral wreath on the Mazar-i-Quaid and also m

Published 05 Feb, 2020 12:00am

Energy

SSGC carries out inspection of 10 industries

Sui Southern gas Company has intensified Operation Girft Phase 11 in its franchise area Sindh and Balochistan. SSGC's team has commenced survey/inspection of Industries in accordance to their GSA and Gas load, meters and other technical appliances.

Published 05 Feb, 2020 12:00am

Procurement of 200 buses: Transport department's proposal approved by Sindh CM

Sindh Chief Minister Syed Murad Ali Shah Tuesday approved a proposal of the Transport Department to procure 200 buses, 100 for Karachi and 100 for other five districts to ply them through private sector on dedicated routes.

Published 05 Feb, 2020 12:00am

Walk organised to mark World Cancer Day

As a part of international drive to raise awareness about cancer by Union for International Cancer Control (UICC), the Shaukat Khanum Memorial Cancer Hospital and Research Centre has organized a walk to mark the World Cancer Day.

Published 05 Feb, 2020 12:00am

Business & Economy

Senate body for construction of shipyard in Gwadar

Senate Standing Committee on Defence Production on Tuesday suggested making use of 750 acres of land to construct state of the art shipyard in Gwadar.

Published 05 Feb, 2020 12:00am

Abducted girl recovered

Police on Tuesday recovered a girl abducted from Balochistan over marriage proposal dispute in a joint raid carried out within the remits of Sachal police station in Karachi. According to police, a joint raid involving Balochistan police and two police st

Published 05 Feb, 2020 12:00am

Business & Economy

Lucky Cement given CSR Award

Lucky Cement Limited won the Int'l Corporate Social Responsibility Award in the category of "Green Environmental Stewardship" organized by The Professionals Network (TPN), at the 9th CSR Summit & Awards held on 30th Jan, 2020 at a local hotel in Karachi.

Published 05 Feb, 2020 12:00am

Fawad Chaudhry causes yet another controversy

Minister for Science and Technology Fawad Chaudhry on Tuesday created another controversy by claiming that senior PML-N leader Khawaja Asif considers himself as candidate for the 'new Prime Minister'. The minister stated this during a debate in National A

Published 05 Feb, 2020 12:00am

Job quota for Christians: respondents submit reply to IHC

The Establishment Division and Hydrocarbon Development Institute of Pakistan on Monday submitted reply to Islamabad High Court (IHC) regarding not specifying Christian job quota. A single bench of IHC comprising Justice Mohsin Akhtar Kayani heard the peti

Published 05 Feb, 2020 12:00am

Balochistan's job quota: Senate body directs ED to fill 5,257 vacant posts

The Senate's Functional Committee on Problems of Less Developed Areas on Tuesday directed the Establishment Division to fill 5,257 vacant posts of Balochistan's job quota on early basis. The committee meeting held here under the chairmanship of Senator Us

Published 05 Feb, 2020 12:00am

Speakers pay tribute to valiant struggle of Kashmiris

All parties' Kashmir Solidarity conference was held in Jirga hall, Landi Kotal on Tuesday. Large number of tribal elders, political workers and member of civil society participated in the moot.

Published 05 Feb, 2020 12:00am

Business & Economy

Nominations for Saarc Chamber of Commerce & Industry: Who has made country a source of laughter?

The infighting between top stakeholders of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has reportedly made Pakistan a laughing stock at the level of SAARC Chamber of Commerce and Industry.

Published 05 Feb, 2020 12:00am

Energy

IGXEP to help regulate future energy demand, supply: Omar

Power Division is in the process of finalising Integrated Generation Expansion Plan (IGXEP) for the national grid which will regulate future energy demand and supply with most affordable and feasible power projects.

Published 05 Feb, 2020 12:00am

Energy

Ogra's timely action helps avert LPG supply crisis

The Oil and Gas Regulatory Authority (Ogra) has timely averted LPG supply crisis in winter by taking cognizance of letter issued by a Deputy Executive Director (DED) LPG. Sources said that a deliberate attempt was made by lower bureaucracy in Ogra to crea

Published 05 Feb, 2020 12:00am

Business & Economy

LED industry urges government to stop influx of smuggled, unregistered products

The local light-emitting diode (LED) lights manufacturing industry has called upon the government to stop influx of smuggled products and unregistered companies to protect the tattered domestic market.

Published 05 Feb, 2020 12:00am

Stocks

Islamabad, Lahore-based brokers hail NBR

Islamabad and Lahore-based brokers on Tuesday appreciated the new brokers regime (NBR) for securities brokers by Securities and Exchange Commission of Pakistan (SECP), saying it was their long-standing issue which will help in reducing custody related ris

Published 05 Feb, 2020 12:00am

Energy

Babar underscores need for greater focus on clean biofuels

Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar Monday said Pakistan was an agrarian country and needed to focus on producing clean bio fuels aimed at meeting its energy requirements indigenously.

Published 05 Feb, 2020 12:00am

Senate body discusses pedestrians' related laws/policies

Senate Committee on Delegated Legislation on Tuesday discussed a public petition pertaining to pedestrians related laws/policies in Pakistan.

Published 05 Feb, 2020 12:00am

Energy

July-December 2019-20: POL products, food items, power sector remain top revenue spinners

The petroleum products, food items and power sector remained three top revenue spinners of Inland Revenue Taxes (income tax, sales tax and Federal Excise Duty) with payment of Rs 315 billion, Rs 76.5 billion and Rs 73 billion, respectively, in the nationa

Published 05 Feb, 2020 12:00am

French-US critic George Steiner dies

George Steiner, the celebrated French-US literary critic and essayist, has died at the age of 90, Britain's Cambridge University said on Tuesday. The university's Churchill College said it was "saddened" to his passing, which was first confirmed to the Ne

Published 05 Feb, 2020 12:00am

Tamil-language anthem dropped from Sri Lanka independence party

A Tamil-language version of Sri Lanka's national anthem was dropped from independence day celebrations Tuesday, with critics saying the move was a setback to reconciliation after years of ethnic civil war. A Tamil-language version was included in the 2016

Published 05 Feb, 2020 12:00am

Libya rivals agree to turn truce into lasting ceasefire: UN

Representatives of the warring parties in Libya meeting in Geneva have agreed on the principle of turning their shaky truce into a lasting ceasefire, the UN's Libya envoy said on Tuesday. "The principle has been adopted from the first session. Now the que

Published 05 Feb, 2020 12:00am

US submarine armed with 'low-yield' nuclear weapon: Pentagon

The US Defence Department announced Tuesday that it has deployed a submarine carrying a new long-range missile with a relatively small nuclear warhead, saying it is in response to Russian tests of similar weapons.

Published 05 Feb, 2020 12:00am

China virus claims 2nd life off mainland, hits supply chains

The coronavirus outbreak claimed its first life in Hong Kong on Tuesday, compounding the international financial centre's problems after anti-government protests, and Macau, the world's biggest gambling playground, urged casinos to shut their doors. The v

Published 05 Feb, 2020 12:00am

Money & Banking

Dollar up in Asia

The dollar held firm on Tuesday after a key US manufacturing survey showed a surprise recovery, while the Australian dollar rose after the central bank left rates steady and retained the outlook despite bushfires at home and a virus epidemic in China.

Published 05 Feb, 2020 12:00am

Money & Banking

Aussie, offshore yuan rise in Europe

The Australian dollar and offshore Chinese yuan climbed on Tuesday as risk appetite picked up, although the spread of a novel coronavirus in China remained a threat. The Australian dollar rose as much as 0.5% to $0.6725, pulling away from a 10 1/2-year lo

Published 05 Feb, 2020 12:00am

Money & Banking

Early trade in New York: Safe-haven yen, Swiss franc slide for second day

The safe-haven yen and Swiss franc fell for a second straight session against the US dollar on Tuesday, with risk appetite growing as investors were encouraged that the Chinese government was taking measures to contain the coronavirus and limit its econom

Published 05 Feb, 2020 12:00am

Money & Banking

Yen, Swiss franc slide in New York

The safe-haven yen and Swiss franc declined on Monday, as risk sentiment improved and fears about the coronavirus eased after China took measures to cushion the economic impact of the new epidemic and pledged to do more to contain it.

Published 05 Feb, 2020 12:00am

Money & Banking

South Africa's rand up against dollar

South Africa's rand firmed against the dollar on Tuesday as risk appetite picked up after China announced measures to minimise the economic impact from the coronavirus epidemic, but the unit remained vulnerable to concerns over a weak local economy. At 15

Published 05 Feb, 2020 12:00am

Money & Banking

Most currencies recover as yuan steadies

Most Asian currencies recovered slightly and the yuan held steady on Tuesday, as China's efforts to allay fears around the coronavirus outbreak lent some support to jittery markets. China's move to infuse liquidity into markets, trim some key lending rate

Published 05 Feb, 2020 12:00am

Money & Banking

Sterling lifted off six-week low

Sterling rebounded off six-week lows against the dollar on Tuesday after better-than-expected construction activity data offset fears of a hard Brexit fuelled by the government's tough stance in European Union trade talks.

Published 05 Feb, 2020 12:00am

Money & Banking

Australian dollar stages half-hearted bounce

The Australian dollar rallied on Tuesday after the country's central bank held interest rates steady and stayed upbeat on the economic outlook despite the impact of bushfires at home and the coronavirus in China.

Published 05 Feb, 2020 12:00am

Stocks

Most of Gulf gains; Dubai bucks the trend

Most Gulf stock markets rose on Tuesday, supported by banking shares, following a rebound in oil prices on hopes for new output curbs from OPEC and its allies.The Organization of the Petroleum Exporting Countries and its allies are considering cutting cru

Published 05 Feb, 2020 12:00am

Stocks

Nikkei surges

Japanese stocks edged up on Tuesday, erasing early losses as Chinese shares steadied somewhat after crumbling the previous day, but sentiment remained fragile as investors fretted over the growing economic and human costs of a virus outbreak.

Published 05 Feb, 2020 12:00am

Stocks

Tuesday's early afternoon trade: Nasdaq hits record high

The Nasdaq hit a record high on Tuesday and the S&P 500 headed for its best day in six months as fears of a heavy economic impact from the coronavirus epidemic tapered off after China's central bank intervened for the second straight day.

Published 05 Feb, 2020 12:00am

Stocks

Wall Street rebounds from virus fears

US stocks rallied on Monday, boosted by heavyweight technology shares and on surprise strength in US manufacturing activity, following a sharp selloff last week on concerns about the economic impact from the fast-spreadding coronavirus out of China US fac

Published 05 Feb, 2020 12:00am

Stocks

Indian shares record best day in 4 months

Indian shares ended higher on Tuesday, recording their best day since last September, led by gains in metal stocks and tracking a China-led recovery in broader Asian markets. Markets had taken comfort after China said it would welcome assistance from the

Published 05 Feb, 2020 12:00am

Money & Banking

Treasury yields retreat from gains

US Treasury yields pared gains on Monday as traders took stock of the international response to the coronavirus epidemic. The benchmark 10-year yield was up less than 1 basis point at 1.5238% in afternoon trading, down from 1.575% earlier.

Published 05 Feb, 2020 12:00am

Stocks

Australian shares up, NZ down

Australian shares on Tuesday recouped some of the sharp losses suffered in the previous session, driven by financial and healthcare stocks, although worries over the fast-spreading coronavirus outbreak capped gains. The S&P/ASX 200 index rose 0.4% to 6,94

Published 05 Feb, 2020 12:00am

Stocks

BP and Glencore drive best day in four months for European shares

European shares clocked their biggest one-day gain in nearly four months on Tuesday as upbeat earnings updates from BP and Glencore along with China's moves to support its markets lifted sentiment. China's central bank injected 1.7 trillion yuan ($243 bil

Published 05 Feb, 2020 12:00am

Stocks

SE Asian stocks gain on recovery in China stocks

Southeast Asian stock markets ended higher on Tuesday as China's central bank made a concerted effort to prop up the economy to calm virus fears, while upbeat economic data further lifted Singapore and Malaysian shares.

Published 05 Feb, 2020 12:00am

Stocks

UK stocks leap after China acts to shore up economy

UK shares leaped on Tuesday as China's central bank took steps to shore up the economy, easing fears about the global impact of the coronavirus epidemic, while positive corporate reports from blue-chips added momentum.

Published 05 Feb, 2020 12:00am

Stocks

China shares soar as central bank calms virus fears

Chinese stocks ended higher on Tuesday as the central bank vowed to stabilise the market, regaining some ground from the coronavirus-led rout that erased almost $400 billion in market value from the Shanghai benchmark in the previous session.

Published 05 Feb, 2020 12:00am

Global Business Economy

Sony net profit down in months

Sony said Tuesday net profit fell more than 30 percent in the nine months to December, but upgraded its annual net profit forecast on solid growth in its image sensor and financial services sectors. The PlayStation manufacturer said net profit dropped 31.

Published 05 Feb, 2020 12:00am

Global Business Economy

AirAsia's Tony Fernandes steps aside amid Airbus bribery probe

AirAsia's colourful chief executive Tony Fernandes has stepped aside from the company while authorities probe unusual payments at the Malaysian carrier, as the fallout from a $4 billion bribery fine at Airbus reverberates across the industry.

Published 05 Feb, 2020 12:00am

Global Business Economy

Bhutan makes Indians pay 'sustainable development fee'

Bhutan is introducing a "sustainable development fee" for regional tourists following a spike in Indian visitors that has sparked worries for the unique Himalayan kingdom's cherished ecology. The majority of tourists already cough up $250 per day in high

Published 05 Feb, 2020 12:00am

IT & Computers

Disappointing growth hits Google parent Alphabet shares

Google parent Alphabet missed revenue expectations in the fourth quarter despite stellar growth at YouTube and in the cloud, earnings figures released Monday showed.

Published 05 Feb, 2020 12:00am

Global Business Economy

BP annual profit slides to $4.0 billion on lower oil prices

British energy giant BP on Tuesday said annual net profit slumped 57 percent to $4.0 billion last year, hit by weaker oil prices, as long-time chief executive Bob Dudley bowed out.

Published 05 Feb, 2020 12:00am

Global Business Economy

Sanofi says charged in birth defects case

Pharmaceutical firm Sanofi has been charged in France with failure to adequately warn patients and causing injury over an anti-epilepsy drug linked to birth defects following a three-year probe.

Published 05 Feb, 2020 12:00am

Global Business Economy

UK regional productivity gaps as wide as 1901, no easy fix

Gaps in economic productivity between London and other regions of the United Kingdom are as wide as they were in 1901 and there is no quick fix to overcome them, a report for the British government said on Tuesday. Prime Minister Boris Johnson has promise

Published 05 Feb, 2020 12:00am

Global Business Economy

Defence aircraft demand lifts US factory orders; underlying softness remains

New orders for US-made goods increased by the most in nearly 1-1/2 years in December, flattered by robust demand for defence aircraft, but persistently weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing.

Published 05 Feb, 2020 12:00am

Money & Banking

Australia keeps rates on hold

Australia's central bank on Tuesday kept interest rates on hold at a record low, despite expected economic pain from the country's devastating bushfire crisis and the deadly outbreak of coronavirus in China.

Published 05 Feb, 2020 12:00am

Money & Banking

World Bank to lower global growth forecast over virus outbreak

The World Bank will revise its global growth forecast downwards due to the new coronavirus, the president of the multilateral lender said Tuesday, amid fears the epidemic in China will harm global supply chains.

Published 05 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 23	252.10

Gainers
Losers
Leaders

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

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

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

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