News Archives for Print - 2020-02-08

Print - 2020-02-08

Exports: Dawood describes FY20 as 'promising'

Commerce Minister Abdul Razzak Dawood has termed the current fiscal year 'promising' in terms of improvement in Pakistan's exports, which, according to him, have increased to $ 11.53 billion showing an increase of 3.15 per cent compared to corresponding p

Published 08 Feb, 2020 12:00am

Outrage grows over death of Chinese doctor who sounded coronavirus alarm

A Chinese doctor reprimanded for warning of a "SARS-like" coronavirus before it was officially recognised died of the illness on Friday, triggering anger at the government.

Published 08 Feb, 2020 12:00am

Zero-rated industrial sectors: KE tariff relief dependent on certification by FBR's IR

Karachi Electric (KE) is to extend relief in electricity tariff to only those zero-rated industrial consumers who will be verified and certified by the Federal Board of Revenue's (FBR's) Inland Revenue (IR), well-informed sources told Business Recorder

Published 08 Feb, 2020 12:00am

Textile sector: Government clears Rs 16.48 billion sales tax refund up to January 15

The government has maintained that it cleared Rs 16.480 billion sales tax refund of textile sector up to January 15, 2020 under faster refund system out of total claimed amount of Rs 24.281 billion.
Published 08 Feb, 2020 12:00am

PSDP funds: IMF for maximum utilisation: Umar

Planning and Development Minister Asad Umar Friday said the International Monetary Fund (IMF) has emphasized maximum utilization of development funds and the government is targeting to utilize Rs701 billion allocated under Public Sector Development Progra
Published 08 Feb, 2020 12:00am

Wheat, flour crisis: Inaccurate data, non-procurement described as key factors

The inaccurate data by the provincial governments with respect to damage caused to wheat crop 2018-19 and non-procurement of wheat by Sindh government are the main reasons behind the wheat and flour crises in the country.
Published 08 Feb, 2020 12:00am

Combined income groups: SPI inflation up 0.21 percent WoW

Sensitive Price Indicator (SPI) based weekly inflation for the combined income groups during the week ended February 6 increased by 0.21 percent against the week ended January 30, 2020. The SPI on an annual basis went up by 17.58 percent, said SPI data re
Published 08 Feb, 2020 12:00am

IMF team briefed about rising food inflation, flour crisis

The Ministry of National Food Security and Research (MNFS&R) Friday briefed the International Monetary Fund (IMF) visiting team about food inflation, wheat and flour crises in the country.
Published 08 Feb, 2020 12:00am

Stocks
KSE-100 Index plunges: BRIndex100 stays bearish

A bearish trend continued on Pakistan Stock Exchange Friday due to selling in almost all sectors by local and foreign investors.
Published 08 Feb, 2020 12:00am

Europe's top economies falter as new virus clouds outlook

Tumbling industrial production in Germany and France in December rounded off a year blighted by trade war tensions for Europe's top economies, official data showed Friday, while the novel coronavirus outbreak threatens hopes of a 2020 revival.
Published 08 Feb, 2020 12:00am

Valuation of properties: SECP proposes to abolish procedure for appointment of valuators

The Securities and Exchange Commission of Pakistan (SECP) had proposed to abolish procedure for appointment of valuators for valuation of properties by registered valuators. The SECP has proposed amendments in the Companies Act 2017 in this regard.
Published 08 Feb, 2020 12:00am

'Disgruntled' PTI MNAs from Karachi meet Tareen

In an important development on Friday, Prime Minister Imran Khan's one of the most trusted aides Jahangir Khan Tareen held a meeting with him amidst the reports that the PM has once again tasked him to woo the disgruntled lawmakers from ruling Pakistan Te
Published 08 Feb, 2020 12:00am

SC asks KPT to demolish illegal constructions

Supreme Court (SC) on Friday ordered Karachi Port Trust (KPT) to demolish the illegal constructions in its jurisdiction, especially in its housing societies.
Published 08 Feb, 2020 12:00am

PM, DG ISI discuss national security

Director General of Inter-Services Intelligence (DG-ISI) Lt General Faiz Hameed has met Prime Minister Imran Khan at PM House on Friday.
Published 08 Feb, 2020 12:00am

Year ended December 31, 2019: ABL earns profit before tax of Rs 24.24 billion

Allied Bank Limited (ABL) remaining fully cognizant of the evolving operating and macroeconomic developments, prudently managed its economic capital during the year ended December 31, 2019. Capitalizing on consistent growth in low and no cost deposits alo
Published 08 Feb, 2020 12:00am

Development of IT sector: PM for formulating comprehensive roadmap

Prime Minister Imran Khan on Friday directed to prepare a roadmap within one week to establish special technology zones, issuance of 5 G-spectrum as well connecting big towers with fiber in big cities for promotion of information technology in the country
Published 08 Feb, 2020 12:00am

Can Pak economy survive without IMF?

Macroeconomic fundamentals deteriorated because of tight monetary, fiscal and regulatory adjustments which have squeezed national output, increased cost pressures and slowed down the GDP growth from 5.53% to 3.29%. On account of country's contractionary m
Published 08 Feb, 2020 12:00am

PAF aircraft crashes

A PAF Mirage aircraft, on a routine operational training mission, crashed near Shorkot on Friday, a PAF spokesman said.
Published 08 Feb, 2020 12:00am

India uses disputed law to extend detention of Kashmir leaders

Indian authorities have extended the detention of two former occupied Kashmir chief ministers, held for the past six months under a security clampdown, using a law allowing for them to be locked up for two years without charge, police said Friday.
Published 08 Feb, 2020 12:00am

Letters
'Coalition blues'

This is apropos a Business Recorder editorial "Coalition blues" carried by the newspaper yesterday.
Published 08 Feb, 2020 12:00am

Articles
Fearing Huawei curbs, Deutsche Telekom tells Nokia to shape up

Deutsche Telekom has told supplier Nokia it must improve its products and service to win business installing the German group's 5G wireless networks in Europe, according to internal documents and a source with direct knowledge of the matter.
Published 08 Feb, 2020 12:00am

Articles
Coronavirus claims Hyundai car plant

The most productive car factory in the world fell quiet on Friday as South Korea's Hyundai suspended operations at its giant Ulsan complex, hamstrung by a lack of parts with the coronavirus outbreak crippling China's industrial output.
Published 08 Feb, 2020 12:00am

Articles
No man can

A couple of days ago, sitting in the national airline's A320, waiting for it to take off from Islamabad and peeved by the condition of the cabin, impulsively retorted that if they gave me the airline it would become profitable within a couple of years.
Published 08 Feb, 2020 12:00am

Articles
Unrealistic IMF targets

Pakistan has once again requested the visiting International Monetary Fund (IMF) team to further reduce tax collection target. As reported in the media, in a meeting between a Pakistani team and the IMF mission for second review talks, the government info
Published 08 Feb, 2020 12:00am

The sad state of Muslim Ummah

In a speech he delivered at the Institute of Advanced Islamic Studies on "Vision for Regional Peace and Security" during his recent trip to Malaysia, Prime Minister Imran Khan lamented the fact that despite being a population of 1.3 billion, Muslims suffe
Published 08 Feb, 2020 12:00am

Worrisome jump in debt liabilities

It is a matter of great concern that Pakistan's Total Debt and Liabilities (TDL) continue to increase consistently and at a very rapid pace. In a debt policy statement laid before the parliament, the ministry of finance has acknowledged that debt and liab
Published 08 Feb, 2020 12:00am

Demonstration against inflation held

Pakistan Inqilabi Party staged a protest against inflation outside the Lahore Press Club on Friday. Speakers pointed out that the rulers have failed to deliver and come up to the public expectations. The public has witnessed all the civilian and military
Published 08 Feb, 2020 12:00am

Business & Economy
FPCCI hails nominations for Saarc Chamber's office-bearers

Federation of Pakistan Chamber of Commerce and Industry (FPCCI) former vice president Riaz Khattak has hailed the nomination of Malik Iftikhar Ali as president, SAARC Chamber of Commerce and Industry and Haji Ghulam Ali as Vice President respectively.
Published 08 Feb, 2020 12:00am

'PAF, POF will leave no stone unturned for Kashmir liberation'

"Kashmir is jugular vein of Pakistan, partition of subcontinent was unjust and incomplete without occupied Kashmir being integral part of Pakistan. The present government and Chief of Army Staff has time and again reiterated their stance that gallant and
Published 08 Feb, 2020 12:00am

Inflation increases by 24 percent: Rs 2 billion corruption being done daily, claims Abbasi

Pakistan Muslim League-Nawaz (PML-N) leader and former prime minister Shahid Khaqan Abbasi on Friday claimed that Rs 2 billion corruption is being done daily while inflation has gone up by 24 percent in the country.
Published 08 Feb, 2020 12:00am

NA adopts resolution calling public hanging for child molesters

The National Assembly on Friday passed a resolution, demanding public hanging of offenders convicted for sexually abusing and murdering children. The resolution moved by Minister for Parliamentary Affairs Ali Mohammad Khan was passed with majority of vote
Published 08 Feb, 2020 12:00am

CDA to construct access roads/ loops to give swift access to F-8/G-8

Capital Development Authority (CDA) is to construct access roads/additional loops adjacent to F-8/G-8 underpass on Jinnah Avenue to give swift access to Sector F-8 and G-8 from Jinnah Avenue and vise-versa.
Published 08 Feb, 2020 12:00am

Skill development in IT: MoU signed between two public sector universities of Pakistan, Finland

A Memorandum of Understanding (MoU) was signed on Friday between two public sector universities of Pakistan and Finland for skill development in Information Technology (IT). Chief Guest, Minister for Planning, Development & Special Initiatives Asad Umar a
Published 08 Feb, 2020 12:00am

Business & Economy
Traders protest against suspension of power supply

The traders of Royal Park protested against suspension of power supply to the area over the last four days, particularly due to a strike observed by the staff of the concerned sub-divisional office.
Published 08 Feb, 2020 12:00am

Firdous lauds artists' creative work

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Friday said the artists through their paintings and photographs have portrayed Indian Prime Minister Narendra Modi and Rashtriya Sawasevak Sangh (RSS) extremi
Published 08 Feb, 2020 12:00am

NSCCP scam: Judicial remand of Ahsan Iqbal extended till February 28

An Accountability Court on Friday extended judicial remand of Pakistan Muslim League-Nawaz (PML-N) leader Ahsan Iqbal till February 28 in Narowal Sport City Complex Project (NSCCP) scam.
Published 08 Feb, 2020 12:00am

Pakistan rejects Indian leadership's anti-Pakistan rhetoric

Pakistan on Friday rejected Indian leadership's irresponsible anti-Pakistan rhetoric and termed the allegations of mistreatment of minorities as sheer fabrications.
Published 08 Feb, 2020 12:00am

Taxes
DGTR agrees to introduce courses for all stakeholders

The Directorate General of Training & Research (DGTR), Customs has accepted the proposal of All Pakistan Customs Agents Association (APCAA) for introducing certificate/diploma courses not only for clearing agents, WeBOC users but also for all stakeholders
Published 08 Feb, 2020 12:00am

Business & Economy
Indonesian CG for strengthening trade ties with Pakistan

"We have to be more active so we, at the Indonesian Consulate, are utilizing all our energies to seek ways and means of how to promote trade and investment for the benefit of the two countries. Trade between Indonesia and Pakistan is very dynamic but the
Published 08 Feb, 2020 12:00am

Oil-tanker robbery case: Dasti handed over to police on physical remand

A Muzaffargarh local court on Friday handed over former Member of National Assembly (MNA) Jamshed Dasti to police on four-day physical remand in an alleged oil-tanker robbery case. He was produced before the local magistrate by police where court granted
Published 08 Feb, 2020 12:00am

Malaysia approves two Pakistani meat processors

The Malaysian government has approved two Pakistani meat processing establishments for exporting meat and its allied products to its market. Trade Development Authority of Pakistan (TDAP) on Monday said in a statement that the department of Veterinary Ser
Published 08 Feb, 2020 12:00am

Business & Economy
Foreign investment in government securities hits all-time high

Foreign investment in government securities has reached about $ 3 billion.
Published 08 Feb, 2020 12:00am

Money & Banking
Faysal Bank partners with Payoneer for cross border payments

Faysal Bank Limited (FBL) continues to introduce digitally enabled solutions for customers, the Bank has recently partnered with Payoneer, a globally recognized digital payment platform empowering businesses around the world to make fast, secure and conve
Published 08 Feb, 2020 12:00am

Business & Economy
Rs 7 billion earmarked under ADP: CM okays 11 new schemes to make Karachi a livable city

Sindh Chief Minister Syed Murad Ali Shah has said that 449 scheme of Annual Development Plan (ADP) of Rs 40.6 billion are going on in the city and 11 new schemes worth Rs 7 billion are being launched to make Karachi more beautiful, impressive and livable
Published 08 Feb, 2020 12:00am

SC seeks suggestions on removal of encroachments, resettlement of katchi abadis

The Supreme Court Friday sought the recommendations about removal of encroachments, resettlement of Katchi Abadis and rehabilitation of their victims after showing anger over the inability of government functionaries to act against the illegal constructio
Published 08 Feb, 2020 12:00am

Business & Economy
ACCA promotes KP as a gateway to economic prosperity

The Association of Chartered Certified Accountants (ACCA) hosted a high-profile corporate networking conference in Peshawar on the theme 'KP: Pakistan's gateway to economic prosperity' providing a platform to region's key stakeholders and thought leaders
Published 08 Feb, 2020 12:00am

Business & Economy
PFA seals 14 food points over multiple violations

The Punjab Food Authority's enforcement teams on Friday sealed 14 food points across the provinve including four in the provincial metropolis over violations of the provincial food regulations.
Published 08 Feb, 2020 12:00am

Business & Economy
LCCI & FPCCI to act as think tank for economic well-being

The Lahore Chamber of Commerce and Industry (LCCI) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will share trade and industry related research besides working as a think tank for economic well-being of the country.
Published 08 Feb, 2020 12:00am

Punjab government to set up model market at Lakhodero

The Punjab government is going to setup a 'Model Market' with a sum of Rs 5 billion at Lakhodero, in the provincial metropolis where processing facilities of the agricultural commodities will also be provided through modern machinery.
Published 08 Feb, 2020 12:00am

Flour & sugar stocks: CS orders action against hoarders, profiteers

Punjab Chief Secretary Major Azam Suleman Khan (retd) has urged the officers to ensure a strict monitoring of transportation and supply of the sugar from the mills in order to prevent hoarding.
Published 08 Feb, 2020 12:00am

Musarrat Cheema meets Tareen

Spokesperson of Punjab government Musarrat Cheema called on senior party leader Jehangir Tareen on Friday. Her spouse Jamshed Cheema was also present on the occasion. They discussed the party affairs as well as overall economic situation in the province.
Published 08 Feb, 2020 12:00am

PKLI's Rs 1.5 billion proposals approved

The 27th meeting of the Punjab Cabinet Standing Committee on Finance and Development approved the proposals of Punjab Kidney and Liver Institute (PKLI) of converting the Rs 1.5 billion non-development expenditures into development budget besides supplemen
Published 08 Feb, 2020 12:00am

Business & Economy
JAC FCCI demands to be presented to parliamentarian's body

Joint Action Committee (JAC) of the Faisalabad Chamber of Commerce & Industry (FCCI) has finalized its demands which will be presented to the parliamentarian's Committee. This committee was constituted on the directive of Governor Punjab Chaudhry Muhammad
Published 08 Feb, 2020 12:00am

Pervaiz Elahi never desired to become CM: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar said on Friday that PML-Q leader Chaudhry Pervaiz Elahi has never desired to become Punjab chief minister.
Published 08 Feb, 2020 12:00am

CM reviews progress of PPP projects worth Rs 42 billion

Chief Minister Punjab Sardar Usman Buzdar, while reviewing progress on public-private partnership based projects worth Rs 42 billion of the current Annual Development Programme (ADP), directed to review the establishment of industrial zones along newly co
Published 08 Feb, 2020 12:00am

Kashmir Society set up at GCU

The Government College University Lahore on Friday established the Kashmir Society in collaboration with the Peace and Culture Organization headed by Mushaal Hussein Mullick, a human rights activist and the wife of Kashmiri leader Yasin Malik.
Published 08 Feb, 2020 12:00am

PHP to plant 7 million trees under country's 'Clean and Green' programme

Realizing the growing challenges of environmental pollution in the country, the Punjab Highway Patrol (PHP) is going to launch a 15-day tree plantation drive across Punjab under which more than seven million saplings will be planted under the Clean and Gr
Published 08 Feb, 2020 12:00am

CM's School Health Nutrition programme launched in Kasur

Inaugurating Chief Minister's School Health Nutrition Screening Programme in Kasur on Friday, Punjab Health Minister Dr Yasmin Rashid said that children requiring further screenings were being provided diagnosis and treatment through the mobile health uni
Published 08 Feb, 2020 12:00am

Police fail to control Sialkot's traffic chaos

Sialkot police have badly failed to control traffic in the city and other highly busy junctions. There is total traffic chaos in Sialkot due to which road accidents and traffic jams have become a daily routine.
Published 08 Feb, 2020 12:00am

Cotton & Textile
July-December 2019-20: Export of towel textiles increases by 3.16 percent

Export of towel textiles increased to $378.846 million in July-Dec 2019-20, up by 3.16 percent, official figures say.
Published 08 Feb, 2020 12:00am

Cotton & Textile
KCBF, BAC urge government to take steps for cotton industry's revival

A meeting of the members of Karachi Cotton Broker's Forum (KCBF) and members of Broker Advisory Committee (BAC) was held on Friday here at Cotton Exchange Building Broker's room.
Published 08 Feb, 2020 12:00am

Telecommunication
Huawei makes 'Double Deposit Offer'

With market anticipation on a high, the pre-orders of Huawei Y6s were a hit as the entire pre-order stock was booked in less than a week; this time Huawei had made an exciting 'Double Deposit Offer' for its budget Y Series variant that got consumers to Hu
Published 08 Feb, 2020 12:00am

UVAS, PCLS ink MoU to deal with issues affecting civil society

The University of Veterinary and Animal Sciences Lahore (UVAS) and Pakistan Centre for Law and Society (PCLS) signed a memorandum of understanding to collaborate in dealing with issues affecting civil society in Pakistan such as water crisis, respect and
Published 08 Feb, 2020 12:00am

Energy
Dhok Hussain Gas Field: OGDCL all set to start commercial production

The Oil & Gas Development Company Limited (OGDCL) is set to start commercial production from Dhok Hussain Gas Field as issues related to production of the filed have resolved. After detailed discussion, the issue of Dhoke Hussain transmission line and Tog
Published 08 Feb, 2020 12:00am

Recruitment of 300 visually-impaired persons: Minister reprimands secretaries

Provincial Minister for Law, Parliamentary Affairs and Social Welfare Raja Basharat on Friday reprimanded the administrative secretaries of several departments for their failure to recruit 300 visually-impaired persons in different departments despite the
Published 08 Feb, 2020 12:00am

Sindh government appoints 32 jail officials

Advisor to the Chief Minister for Prisons Mir Aijaz Hussain Jakhrani said on Friday that recruitment in the prison department under the jail reforms program has been started and the merit would strictly be maintained during the process.
Published 08 Feb, 2020 12:00am

Articles
Partly Facetious: 'Water, water everywhere...'

"Transparency Internatio-nal's downgrading of our ranking by one in terms of corruption perception index remains notwithstanding the long explanation issued by TI's Pakistan Chapter."
Published 08 Feb, 2020 12:00am

Business & Economy
Honda celebrates champions who continue to make the nation proud

In an event held at Honda Fort, the management of Honda Atlas Cars (Pakistan) Ltd. celebrated the World Record breaking achievement of batsman of the Pakistani Cricket team Abid Ali by presenting him the all new Honda Civic 1.5L VTEC TURBO Oriel. As the f
Published 08 Feb, 2020 12:00am

Over 60 companies honoured NFEH's CSR Awards-2020

Adviser to Prime Minister on Climate Change Malik Amin Aslam has urged the Pakistani companies showing excellence in corporate philanthropy to join hands with the government as partners in the Prime Minister's Clean and Green Pakistan initiative.
Published 08 Feb, 2020 12:00am

IMC signs MoU with Dr Ruth Pfau Civil Hospital

Indus Motor Company (IMC) has signed a Memorandum of Understanding (MoU) with Dr Ruth K. M. Pfau Civil Hospital, commonly known as Civil Hospital, with an objective to innovate and realize better shelter options in the premises for the attendants of hospi
Published 08 Feb, 2020 12:00am

Wheat flour and sugar crises: PML-N accuses Tareen, Bukhtiyar of minting Rs 40 billion

Pakistan Muslim League (PML-N) on Friday accused Jahingir Tareen and Federal Minister for food and agriculture Khusro Bukhtiyar of making Rs 40 billion from wheat flour crisis and sugar crisis.
Published 08 Feb, 2020 12:00am

Taxes
Transfers, postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted Dr Arslan Subuctageen Director General, Directorate General of IPR (Enforcement), Islamabad to Member (Legal & Accounting-Customs), FBR.
Published 08 Feb, 2020 12:00am

Digitalisation of 2,500 manuscripts begins

Natural calamities and lawlessness have ruined the manuscripts worldwide besides causing massive destructions.
Published 08 Feb, 2020 12:00am

WCH offers cooperation in developing Karachi

Maria Leonoro "Amor" Torres - a Filipino - American and the founder of 'We Care of Humanity' (WCH) on Thursday called on the Mayor Karachi along with a delegation at his office and offered cooperation towards the development of Karachi.
Published 08 Feb, 2020 12:00am

Energy
PPL supports healthcare initiatives in Sindh, Punjab

Pakistan Petroleum Limited (PPL), as part of its Corporate Social Responsibility programme, provided financial support to the tune of Rs 8.245 million for provision of quality healthcare for disadvantaged communities residing around its operated Kandhkot
Published 08 Feb, 2020 12:00am

Internet services wholly exempted from FED: SC

The Supreme Court held Friday that internet services/facilities are wholly exempted from Federal Excise Duty (FED) and nothing extraneous can be read into the relevant entry of Federal Excise Act, 2005 to qualify or restrict such exemption.
Published 08 Feb, 2020 12:00am

Reduction in GIDC: Government's decision adds to farmers' financial woes

The government's decision to reduce GIDC by Rs 400 per bag of urea and hesitation in increase of feed gas price has landed farmers in different parts of the country in a dwindling financial situation.
Published 08 Feb, 2020 12:00am

Money & Banking
'IMF programme needs tweaking:' SBP clarification

This is with reference to Business Recorder editorial titled "IMF programme needs tweaking" published on 6th February, 2020. We would like to draw your attention to the three points raised in your editorial that are either factually or conceptuall
Published 08 Feb, 2020 12:00am

Russian sisters separated during WWII reunited after 78 years

Two Russian sisters have been reunited 78 years after they were separated by the turmoil of World War II, thanks to a television show and a police search. In footage of their meeting late last month provided by the interior ministry, Yulia and Rozalina Kh
Published 08 Feb, 2020 12:00am

New 'mercy flight' from rebel-held Yemen capital delayed: WHO

The evacuation of 24 critically ill Yemenis from the rebel-held capital was delayed Friday, the World Heath Organization said, citing technical reasons. "It is unfortunate that the flight did not take off today as planned," a WHO spokesperson told AFP. "
Updated 08 Feb, 2020 11:57pm

Controversial 'Nobel Center' finds new home in Stockholm

An ambitious but controversial new centre for activities surrounding the Nobel prizes, including the prestigious award ceremony and a Nobel museum, has found a new location in Stockholm, the Nobel Foundation said Friday.
Published 08 Feb, 2020 12:00am

Nearly 550 killed in Iraq protest violence: commission

Nearly 550 Iraqis have been killed in protest-related violence since unprecedented anti-government demonstrations erupted in the capital and southern cities in October, the Iraqi Human Rights Commission said on Friday. Iraq's health ministry confirmed the
Updated 08 Feb, 2020 11:58pm

Cyprus orders missiles amid Turkey gas tensions

Cyprus has signed contracts for weapons orders to bolster its defences at a time of heightened tensions with Turkey over maritime gas deposits, its defence ministry confirmed Friday. "Contracts were signed related to upgrading specific weapons systems at
Updated 09 Feb, 2020 12:02am

Five Central African militia chiefs given life terms over war crimes

Five leaders from a predominantly Christian militia in Central African Republic were given life terms on Friday for war crimes and crimes against humanity after dozens of Muslims were slaughtered in a southeastern town in May 2017.
Published 08 Feb, 2020 12:00am

Tunisia fires envoy to UN, reportedly over Trump plan

Tunisia fired its ambassador to the UN on Friday accusing him of failing to consult the foreign ministry on key issues that diplomatic sources said included Washington's controversial Middle East peace plan.
Updated 09 Feb, 2020 12:02am

Trump confirms killing of AQAP chief in Yemen

President Donald Trump confirmed Thursday that the US had killed the leader of Al-Qaeda in the Arabian Peninsula - days after the jihadist group claimed responsibility for a mass shooting at a US naval base. The US "conducted a counterterrorism operation
Updated 08 Feb, 2020 11:58pm

Israeli forces kill Palestinian in clash amid uptick in violence

Israeli forces shot dead a Palestinian during clashes in the West Bank on Friday, the Palestinian health ministry said, part of a spike in violence after Washington announced a controversial Middle East plan. The fatality brings to five the number killed
Updated 08 Feb, 2020 11:58pm

Top EU diplomat talks to US on Iran trip, Mideast plan

Top EU diplomat Josep Borrell on Friday briefed US leaders on a trip to Iran aimed at easing tensions and discussed a US Middle East plan that he has denounced. On his first trip to Washington since assuming his position in December, Borrell met Secretary
Updated 08 Feb, 2020 11:58pm

Former South Korea spy chief jailed for political meddling

A former South Korean spy chief received a seven-year jail sentence Friday for using taxpayer money for political meddling in favour of the then conservative government, among other charges. Won Sei-hoon, 69, who led the National Intelligence Service (NIS
Published 08 Feb, 2020 12:00am

Joe Walsh exits 2020 race

Former Illinois congressman and conservative talk show host Joe Walsh announced Friday that he was ending his quixotic effort to challenge President Donald Trump for the 2020 Republican nomination. "I am ending my candidacy for president of the United Sta
Published 08 Feb, 2020 12:00am

New UK ambassador to US appointed after Trump row

Britain appointed its current UN envoy as the next ambassador to the United States on Friday after London's previous top diplomat in Washington resigned over comments about President Donald Trump.
Published 08 Feb, 2020 12:00am

Money & Banking
Dollar up in Asia

The dollar held near a two-week high versus the yen on Friday on upbeat US economic data ahead of a key jobs report, while the yuan eased and financial markets remained on tenterhooks as the death toll from a new coronavirus in China jumped yet again.
Published 08 Feb, 2020 12:00am

Money & Banking
Euro hits four-month low in Europe

The euro fell to its lowest since October on Friday after German industrial output recorded its biggest decline in a decade in December and a recent batch of strong employment data in the United States encouraged investors to buy the dollar.
Published 08 Feb, 2020 12:00am

Money & Banking
Early trade in New York: Dollar climbs against basket of major currencies

The dollar rallied to a four-month high versus a basket of major currencies on Friday, bolstered by a strong US non-farm payrolls report that followed a spate of upbeat economic reports this week, a scenario which should keep interest rates steady for now
Published 08 Feb, 2020 12:00am

Money & Banking
Dollar jumps against euro, yen in NY

The dollar climbed to four-month highs against the euro and two-week peaks versus the yen on Thursday, bolstered by recent strong US economic numbers as well as ebbing fears about the latest coronavirus that broke out in China few weeks ago.
Published 08 Feb, 2020 12:00am

Money & Banking
Brazil's real hits new low under 4.30 per dollar

Brazil's real slumped again on Friday to a new low against the dollar, falling through the 4.30 per dollar mark for the first time as traders tested the central bank's resolve not to intervene in the market to arrest its decline.
Published 08 Feb, 2020 12:00am

Money & Banking
Asian currencies ease

Asian currencies weakened on Friday, with the South Korean won leading the pack, as the rising death toll and economic damage from the coronavirus epidemic cast a shadow on global economic outlook. The toll in mainland China jumped to 636 by the end of Th
Published 08 Feb, 2020 12:00am

Money & Banking
Aussie, kiwi find it hard to shake virus fears

The Australian dollar was struggling to maintain even a modest weekly rally on Friday following five straight weeks of losses as worries over the spread of the coronavirus in China overshadowed the fading risk of rate cuts at home.
Published 08 Feb, 2020 12:00am

Money & Banking
Sterling up, but posts biggest weekly drop in 7

The pound edged up on Friday, but was headed for its biggest weakly fall since December's UK election as investors priced in the risk of Britain failing to agree a trade deal with the EU in the 11 months left of the Brexit transition period.
Published 08 Feb, 2020 12:00am

Other
Emotional Osaka endures surprise Fed Cup loss to Sorribes as Spain lead Japan

A tearful Naomi Osaka followed up her Australian Open disappointment with another surprise defeat on Friday when she was beaten 6-0, 6-3 by world number 78 Sara Sorribes Tormo in the Fed Cup. Spain took an unexpected lead over Japan in the tie in Cartagen
Published 08 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency Rate

USD PKR Interbank Selling / Dec 24

278.53

USD PKR Interbank Buying / Dec 24

278.33

USD to Japanese Yen / Dec 24

157.10

USD to Swiss Franc / Dec 24

0.90

Pound Sterling to USD / Dec 24

1.25

Euro to USD / Dec 24

1.04

Stock Volume

S&P 500 / Dec 23

5,974.07

Nasdaq / Dec 23

19,764.89

Dow Jones / Dec 23

42,906.95

Germany DAX 30 / Dec 23

19,848.77

India Sensex / Dec 24

78,616.57

Tokyo Nikkei / Dec 24

39,036.85

Hang Seng / Dec 24

20,098.29

FTSE 100 / Dec 24

8,130.86

Item Value

Gold 10 Grams PKR / Dec 23

241,087.80

Petrol/Litre / Dec 24

252.10

Crude Oil USD/Barrel / Dec 24

69.54

Karachi Cotton PKR/37.32 KG / Dec 24

17,785

Gold Spot USD/Ounce / Dec 24

2,618.54

Diesel/Litre / Dec 24

255.38

Gainers
Losers
Leaders

Stock Price

Sec. Inv. Bank / Dec 24

Security Investment Bank Limited(SIBL)

5.99

▲ 1.00 (20.04%)

Next Capital / Dec 24

Next Capital Limited(NEXT)

8.90

▲ 1.00 (12.66%)

Pak Agro Pack. (GEM) / Dec 24

Pak Agro Packaging Limited (GEM)(GEMPAPL)

9

▲ 1.00 (12.50%)

Ghani Chem. Ind. / Dec 24

Ghani Chemical Industries Limited(GCIL)

16.13

▲ 1.47 (10.03%)

Pak Gulf Leasing / Dec 24

Pak-Gulf Leasing Company Limited(PGLC)

14.37

▲ 1.31 (10.03%)

Popular Islamic / Dec 24

Popular Islamic Modaraba(PIM)

15.58

▲ 1.42 (10.03%)

Mandviwala / Dec 24

Mandviwala Mauser Plastic Industries(MWMP)

16.59

▲ 1.51 (10.01%)

Blessed Tex. / Dec 24

Blessed Textiles Limited(BTL)

301.77

▲ 27.43 (10.00%)

Crescent Cotton / Dec 24

Crescent Cotton Mills Limited(CCM)

55

▲ 5.00 (10.00%)

Stock Price

S.G.Power / Dec 24

S.G. Power Limited(SGPL)

10.58

▼ -1.18 (-10.03%)

Olympia Mills / Dec 24

Olympia Mills Limited(OML)

36

▼ -4.00 (-10.00%)

J.A.Textile / Dec 24

J.A. Textile Mills Limited(JATM)

33.95

▼ -3.77 (-9.99%)

Sanghar Sugar / Dec 24

Sanghar Sugar Mills Limited(SANSM)

26.16

▼ -2.90 (-9.98%)

I.C.C. Ind. / Dec 24

ICC Industries Limited(ICCI)

9.85

▼ -1.07 (-9.80%)

National Silk / Dec 24

The National Silk & Rayon Mills Limited(NSRM)

50.01

▼ -5.43 (-9.79%)

Gulshan Sp. / Dec 24

Gulshan Spinning Mills Limited(GSPM)

4.10

▼ -0.40 (-8.89%)

Crescent Fib. / Dec 24

Crescent Fibres Limited(CFL)

40.16

▼ -3.81 (-8.66%)

Reliance Ins. / Dec 24

Reliance Insurance Company Limited(RICL)

11.55

▼ -1.05 (-8.33%)

Stock Volume

WorldCall Telecom / Dec 24

Worldcall Telecom Limited(WTL)

126,573,463

▲ 0.05

Fauji Foods Ltd / Dec 24

Fauji Foods Limited(FFL)

66,984,381

▲ 0.49

Cnergyico PK / Dec 24

Cnergyico PK Limited(CNERGY)

66,471,663

▼ -0.27

Pak Elektron / Dec 24

Pak Elektron Limited(PAEL)

38,651,653

▼ -1.53

K-Electric Ltd. / Dec 24

K-Electric Limited(KEL)

36,108,956

▼ -0.18

Sui South Gas / Dec 24

Sui Southern Gas Company Limited(SSGC)

33,467,532

▼ -0.50

P.T.C.L. / Dec 24

Pakistan Telecommunication Company Ltd(PTC)

33,030,118

▼ -1.31

TRG Pak Ltd / Dec 24

TRG Pakistan Limited(TRG)

29,441,264

▲ 3.35

Pace (Pak) Ltd. / Dec 24

Pace (Pakistan) Limited(PACE)

28,106,970

▼ -0.18

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NJLI Sarmaya Growth Fund Rates

Jul-Nov FY25: Foreign borrowing, including $1.03bn from IMF, falls YoY

Sapphire Electronics to manufacture & assemble Samsung products in Pakistan

Mari Petroleum Company Limited

US concerned over sentencing of Pakistanis by military courts

MARI completes disposal of withheld bonus shares

Profit-taking maintains grip as KSE-100 sheds over 1,500 points

High returns to benefit investors, spur jobs: Aleem

IFC, local banks to provide $52.2mn financing for tyre production in Pakistan

Positive GDP growth rate unlikely?

Resident Pakistanis in UAE, UK: Rental income, capital gain not taxable: ATIR DB

NJLI Sarmaya Growth Fund Rates

Two foreign oil, gas firms win arbitration against PEL

KSE-100 gains over 4,400 points as buying momentum continues

Sapphire Electronics to manufacture & assemble Samsung products in Pakistan

MARI completes disposal of withheld bonus shares

Pakistan must prepare to let go off the crutches of remittances

Tax receipts must improve

NJLI Sarmaya Growth Fund Rates

Resident Pakistanis in UAE, UK: Rental income, capital gain not taxable: ATIR DB

Positive GDP growth rate unlikely?

Two foreign oil, gas firms win arbitration against PEL

Sapphire Electronics to manufacture & assemble Samsung products in Pakistan

KSE-100 gains over 4,400 points as buying momentum continues

MARI completes disposal of withheld bonus shares

Jul-Nov FY25: Foreign borrowing, including $1.03bn from IMF, falls YoY

Pakistan’s Feroze1888 Mills to establish subsidiary in UK

Currency	Rate
USD PKR Interbank Selling / Dec 24	278.53
USD PKR Interbank Buying / Dec 24	278.33
USD to Japanese Yen / Dec 24	157.10
USD to Swiss Franc / Dec 24	0.90
Pound Sterling to USD / Dec 24	1.25
Euro to USD / Dec 24	1.04

Stock	Volume
S&P 500 / Dec 23	5,974.07
Nasdaq / Dec 23	19,764.89
Dow Jones / Dec 23	42,906.95
Germany DAX 30 / Dec 23	19,848.77
India Sensex / Dec 24	78,616.57
Tokyo Nikkei / Dec 24	39,036.85
Hang Seng / Dec 24	20,098.29
FTSE 100 / Dec 24	8,130.86

Item	Value
Gold 10 Grams PKR / Dec 23	241,087.80
Petrol/Litre / Dec 24	252.10
Crude Oil USD/Barrel / Dec 24	69.54
Karachi Cotton PKR/37.32 KG / Dec 24	17,785
Gold Spot USD/Ounce / Dec 24	2,618.54
Diesel/Litre / Dec 24	255.38

Stock	Price
Sec. Inv. Bank / Dec 24 Security Investment Bank Limited(SIBL)	5.99 ▲ 1.00 (20.04%)
Next Capital / Dec 24 Next Capital Limited(NEXT)	8.90 ▲ 1.00 (12.66%)
Pak Agro Pack. (GEM) / Dec 24 Pak Agro Packaging Limited (GEM)(GEMPAPL)	9 ▲ 1.00 (12.50%)
Ghani Chem. Ind. / Dec 24 Ghani Chemical Industries Limited(GCIL)	16.13 ▲ 1.47 (10.03%)
Pak Gulf Leasing / Dec 24 Pak-Gulf Leasing Company Limited(PGLC)	14.37 ▲ 1.31 (10.03%)
Popular Islamic / Dec 24 Popular Islamic Modaraba(PIM)	15.58 ▲ 1.42 (10.03%)
Mandviwala / Dec 24 Mandviwala Mauser Plastic Industries(MWMP)	16.59 ▲ 1.51 (10.01%)
Blessed Tex. / Dec 24 Blessed Textiles Limited(BTL)	301.77 ▲ 27.43 (10.00%)
Crescent Cotton / Dec 24 Crescent Cotton Mills Limited(CCM)	55 ▲ 5.00 (10.00%)

Stock	Price
S.G.Power / Dec 24 S.G. Power Limited(SGPL)	10.58 ▼ -1.18 (-10.03%)
Olympia Mills / Dec 24 Olympia Mills Limited(OML)	36 ▼ -4.00 (-10.00%)
J.A.Textile / Dec 24 J.A. Textile Mills Limited(JATM)	33.95 ▼ -3.77 (-9.99%)
Sanghar Sugar / Dec 24 Sanghar Sugar Mills Limited(SANSM)	26.16 ▼ -2.90 (-9.98%)
I.C.C. Ind. / Dec 24 ICC Industries Limited(ICCI)	9.85 ▼ -1.07 (-9.80%)
National Silk / Dec 24 The National Silk & Rayon Mills Limited(NSRM)	50.01 ▼ -5.43 (-9.79%)
Gulshan Sp. / Dec 24 Gulshan Spinning Mills Limited(GSPM)	4.10 ▼ -0.40 (-8.89%)
Crescent Fib. / Dec 24 Crescent Fibres Limited(CFL)	40.16 ▼ -3.81 (-8.66%)
Reliance Ins. / Dec 24 Reliance Insurance Company Limited(RICL)	11.55 ▼ -1.05 (-8.33%)

Stock	Volume
WorldCall Telecom / Dec 24 Worldcall Telecom Limited(WTL)	126,573,463 ▲ 0.05
Fauji Foods Ltd / Dec 24 Fauji Foods Limited(FFL)	66,984,381 ▲ 0.49
Cnergyico PK / Dec 24 Cnergyico PK Limited(CNERGY)	66,471,663 ▼ -0.27
Pak Elektron / Dec 24 Pak Elektron Limited(PAEL)	38,651,653 ▼ -1.53
K-Electric Ltd. / Dec 24 K-Electric Limited(KEL)	36,108,956 ▼ -0.18
Sui South Gas / Dec 24 Sui Southern Gas Company Limited(SSGC)	33,467,532 ▼ -0.50
P.T.C.L. / Dec 24 Pakistan Telecommunication Company Ltd(PTC)	33,030,118 ▼ -1.31
TRG Pak Ltd / Dec 24 TRG Pakistan Limited(TRG)	29,441,264 ▲ 3.35
Pace (Pak) Ltd. / Dec 24 Pace (Pakistan) Limited(PACE)	28,106,970 ▼ -0.18