News Archives for Print - 2020-02-10

Print - 2020-02-10

Global Business Economy

Trump to make lower, $2 billion spending request for border wall

US President Donald Trump will request $2 billion in new funding for border wall construction in his 2021 budget, substantially less than he sought last year, according to senior administration officials. The lower request, due to be unveiled on Monday, s

Published 10 Feb, 2020 12:00am

Wild weather as cyclone, storms lash Australia

Weakening tropical cyclone Damien battered northwestern Australia's resource-rich Pilbara region on Sunday, as storms brought heavy rains and flooding to the country's bushfire-ravaged east.

Published 10 Feb, 2020 12:00am

Telecommunication

Anti-Huawei UK lawmakers conducting 'witch-hunt': Chinese ambassador

Senior members of Prime Minister Boris Johnson's Conservatives who have demanded Chinese telecoms giant Huawei must not have a role in Britain's 5G mobile network are conducting "a kind of witch-hunt", China's ambassador to London said on Sunday.

Published 10 Feb, 2020 12:00am

Stocks

Futures spread up by 244 basis points

The futures spread increased by 244bps to 16.59 percent on the last day of the outgoing week. Trading activities on the futures counter remained very thin as average daily volumes decreased by 60.4 percent to 62.80 million shares as compared to previous w

Published 10 Feb, 2020 12:00am

Stocks

Equities under severe pressure

Pakistan Stock Exchange remained under severe pressure during the outgoing week due to heavy selling in almost all sectors. BRIndex100 lost 174.77 points on week-on-week basis to close at 4,182.30 points. Average daily volumes stood at 151.779 million sha

Published 10 Feb, 2020 12:00am

US warns Israel against 'unilateral' West Bank moves

A US envoy warned Israel on Sunday not to declare sovereignty over West Bank land without Washington's consent, pushing back against calls for immediate action by ultra-nationalists within Prime Minister Benjamin Netanyahu's coalition.

Published 10 Feb, 2020 12:00am

PM vows to bring down rising inflation

Finally Prime Minister Imran Khan has said that the government will announce the measures to be taken to reduce prices of basic food items after a federal cabinet meeting scheduled for tomorrow (Tuesday).

Updated 10 Feb, 2020 09:40am

Embittered PM starts arm-twisting MoE

Prime Minister Imran Khan has reportedly started arm-twisting Ministry of Energy - Petroleum Division and Power Division - to pass on all efficiencies of power and gas sectors to the end consumers, well informed sources told Business Recorder.

Published 10 Feb, 2020 12:00am

Army rescues two foreign mountain climbers

Pakistan Army Aviation pilots rescued two foreign mountaineers from Broad Peak, Baltoro Glacier, Inter-Services Public Relations (ISPR) said on Sunday. In a statement, ISPR said that mountaineers-Donald Allen Bowie, a US citizen and Lotta Henriikka Nakyva

Published 10 Feb, 2020 12:00am

Money & Banking

Slight gains

Steadier trend was witnessed on the currency market on Saturday as the rupee managed to hold it's present levels during the week, ended on 08 February 2020. According to the market sources, the rupee on the back of availability of dollar, managed to hold

Published 10 Feb, 2020 12:00am

Insider attack in Afghanistan kills two US soldiers

Two US soldiers and an Afghan soldier were killed when an individual in an Afghan uniform opened fire on them with a machine gun in eastern Afghanistan, the US military and two senior Afghan officials said on Sunday.

Published 10 Feb, 2020 12:00am

CCP analyzing data of sugar sector

After imposition of maximum penalty of Rs 75 million on Pakistan Flour Mills Association (PFMA), the Competition Commission of Pakistan (CCP) is analyzing data of sugar sector to ascertain whether sugar mills are involved in collusive practices or carteli

Published 10 Feb, 2020 12:00am

IOK hit by general strike

Indian-occupied Kashmir was hit by a general strike on Sunday called by the Jammu Kashmir Liberation Front (JKLF) to mark the anniversary of the death of a Kashmiri man who was executed for his part in an attack on India's parliament in 2001.

Published 10 Feb, 2020 12:00am

Coronavirus deaths top SARS as China returns to work

China raised the death toll from its coronavirus outbreak to 811 on Sunday, passing the number killed globally by the SARS epidemic, as authorities made plans for millions of people returning to work after an extended Lunar New Year break.

Published 10 Feb, 2020 12:00am

Trump proposes 21 percent cut in US foreign aid in budget proposal

President Donald Trump will propose cutting billions of dollars in US foreign aid in his fiscal 2021 budget while seeking an increase in funds to counter developing economic threats from China and Russia, senior administration officials told Reuters. Trum

Published 10 Feb, 2020 12:00am

Iranian 'Victory' satellite fails to reach orbit

Iran unveiled a new short-range missile called Thunder on Sunday and launched a satellite named Victory which failed to reach orbit. The developments took place at a time of high tension with the United States, which killed Iranian military commander Qass

Published 10 Feb, 2020 12:00am

Sales tax refunds: Exporters concerned at delay in payment

Exporters have expressed serious concern over prolonged delay in payment of sales tax refunds under the newly introduced system, "Faster", of the Federal Board of Revenue (FBR). According to the FBR's data, out of total refund claims of Rs24.281 billion f

Published 10 Feb, 2020 12:00am

Gunman wounds NYC policeman inside station

A gunman opened fire inside a New York City police station on Sunday, striking a lieutenant in the arm, some 12 hours after he had ambushed a patrol van in the same neighborhood, wounding an officer, police said. The gunman was arrested at the police stat

Published 10 Feb, 2020 12:00am

Cleric Aziz of Red Mosque likely to get land to build seminary

The Islamabad Capital Territory (ICT) on Sunday bowed down before a hardliner controversial cleric Abdul Aziz of Red Mosque and assured him to allot 20-kanal land for building seminary girls. The cleric, who had gone underground for some years after 2007

Published 10 Feb, 2020 12:00am

Flights axed and floods feared as Storm Ciara clobbers Europe

Storm Ciara lashed Britain and northern continental Europe with heavy rain and wind speeds that reached more than 90 miles an hour (145 kph) in places on Sunday, forcing the cancellation of hundreds of flights, train services and sports matches.

Published 10 Feb, 2020 12:00am

Russian plane crash-lands on belly, no one hurt

A Russian plane carrying 100 people crash-landed on its belly in the north of the country after problems with its landing gear Sunday, the company and officials said, adding no one was seriously hurt. The Utair Boeing 737 was buffeted by a sudden change i

Published 10 Feb, 2020 12:00am

Fazl announces second round of anti-government protests from February 23

Jamiat Ulema-e-Islam Fazl (JUI-F) leader Maulana Fazl ur Rehman on Sunday announced that he will launch a campaign against the PTI led government by holding public gatherings in Lahore, Karachi and Islamabad in the coming days. The veteran politician made

Published 10 Feb, 2020 12:00am

Azerbaijan ruling party wins vote, opposition cries foul

Azerbaijan President Ilham Aliyev's ruling party on Sunday won a majority of seats in snap parliamentary polls, according to exit polls, as the opposition denounced what it said was mass electoral fraud. Aliyev's Yeni (New) Azerbaijan party has won 69 sea

Published 10 Feb, 2020 12:00am

Letters

Modi's growing belligerence

How unfortunate it is that the BJP government has taken its aggression against the Kashmiris to the next level as it has now extended the detention of two former occupied Kashmir chief ministers Mehbooba Mufti and Omar Abdullah, held for the past six mont

Published 10 Feb, 2020 12:00am

Articles

As nations bicker, a greener future evolves in finance

Away from the toxic atmosphere at climate summit talks, in boardrooms, banks and trading houses, a transformation in green finance is under way. Its backers hope it could profitably help save the planet. Regardless of the politics of climate change, there

Published 10 Feb, 2020 12:00am

Articles

Coronavirus outbreak

If you want an infection virus to become an epidemic virus, press the panic button. Viruses need measured, scientific, thought through responses. Panic blocks the ability to think, measure and respond in a logical manner. The latest coronavirus issue is i

Updated 04 Mar, 2020 10:41am

Articles

Data integrity remains an issue

Prime Minister Imran Khan's signature Ehsaas programme launched on 27 March 2019 with his Policy Statement uploaded on the website highlights the need for data integrity though it is unclear if implementation has begun.

Published 10 Feb, 2020 12:00am

Holding encroachers to account

Although encroachment of public land is a problem common to all big cities, the worst offenders seem to be concentrated in Karachi. From footpaths to amenity plots and storm water drains to disused circular railway tracks, nothing is spared. This of cours

Updated 10 Feb, 2020 07:09am

Fiscal deficit and IMF

Reports indicate that the International Monetary Fund (IMF) staff mission, during the ongoing second review of the 6 billion dollar 39-month front-loaded programme, has expressed concerns at the projected fiscal deficit as a consequence of the estimated 3

Updated 10 Feb, 2020 05:52am

Refresher course for CIPA to begin on February 29

IBA Centre for Excellence in Islamic Finance (IBA-CEIF) has announced refresher course for "Certified Islamic Professional Accountant" (CIPA). The three months weekend CIPA Refresher Course will be organized in collaboration with Accounting and Auditing O

Published 10 Feb, 2020 12:00am

Around 50 Pakistani delegates participated in Fruit Logistica

Some fifty Pakistani delegates participated in the world's renowned exhibition of fruits and vegetables - "Fruit Logistica" to explore new export opportunities. The fair was held from Feb 5-7 in Berlin, Germany and some eight Pakistani companies set up th

Published 10 Feb, 2020 12:00am

Crimes can't be finished with public hanging: Ghani

The Sindh Education Minister Saeed Ghani said that the world had moved forward and in many countries the law of giving death penalty had been abolished.

Published 10 Feb, 2020 12:00am

Sindh CM empowered to appoint provincial ombudsman

The Sindh Assembly Speaker on Sunday notified approval of a legislative bill that confers the authority to appoint the provincial ombudsman on the chief minister. Before the amendment in the law it was prerogative of the provincial governor to appoint omb

Published 10 Feb, 2020 12:00am

Three western weather systems likely to approach in February: Met

The Met Office has forecast slightly above normal rainfall for the country's southern half and normal to slightly below normal rainfall over northern half during Feb 2020. Two to three western weather systems are likely to approach after mid-February, it

Published 10 Feb, 2020 12:00am

Money & Banking

Dubai Islamic Bank Pakistan posts after tax profit of Rs 3.3 billion

Dubai Islamic Bank Pakistan Limited continued excellent performance and its growth trajectory in 2019. The Bank posted profit before tax of PKR. 5.7 Billion for the year ended December 31, 2019 showing an increase of 38% over last year. Earnings per share

Published 10 Feb, 2020 12:00am

Umar vows to complete K-IV water project on priority

Federal Minister for Planning, Development and Reforms Asad Umar on Sunday vowed to complete the K-IV water project on a priority basis. K-IV is important water project for Karachi and the federal government was taking measures to complete it on a priorit

Published 10 Feb, 2020 12:00am

Courts' orders to be implemented in letter and spirit: Murad

Chief Minister Sindh Syed Murad Ali Shah has said that Sindh respects the orders of courts and is trying to ensure implementation of their orders, adding that the railway track, on the orders of SC, would be got cleared.

Published 10 Feb, 2020 12:00am

PTI to have decisive round of talks with PML-Q leaders today: Khattak

Federal Minister for Defence and head of the government's negotiation team, Pervez Khan Khan Khattak has said that decisive round of talks with the leadership of PML-Q is being held today (Monday) while meaningful negotiations with all coalition partners

Published 10 Feb, 2020 12:00am

International research moot held at SZABIST Larkana

Management Sciences and Computer Science Departments of Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST), Larkana organized its 1st International Research Conference on Business, Management and Computer Technology - IRCoBMCT 2020 at

Published 10 Feb, 2020 12:00am

Taxes

FBR organises awareness event on POS at Packages Mall

Federal Board of Revenue has organized an event at Packages Mall, Lahore to create awareness among people about the Point of Sale (Linked Invoicing System) of FBR.

Published 10 Feb, 2020 12:00am

Indian diplomat summoned over LoC violations

Indian Charge d' Affaires Gaurav Ahluwalia was summoned by Director General (South Asia & SAARC) Zahid Hafeez Chaudhri to register Pakistan's strong protest at the ceasefire violations by Indian occupation forces along the Line of Control (LoC) in Chiriko

Published 10 Feb, 2020 12:00am

Prices of perishable food items witness a decline

Prices of perishable food items and fruits have witnessed a decline during this past week compared to the week before, according to a survey conducted by Business Recorder in the federal capital on Saturday.

Published 10 Feb, 2020 12:00am

Energy

PEDO's board discusses Rs 4.34 billion solar energy projects

A meeting of Pakhtunkwa Energy Development Organization's (PEDO) Board of Directors held, here Sunday to discuss launching of several solar energy projects under 'Access to Clean Energy' programme of Asian Development Bank.

Published 10 Feb, 2020 12:00am

Imran's struggle against corruption enters final phase: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan has said that Prime Minister Imran Khan is honouring all his promises and political commitments made during his election campaign.

Published 10 Feb, 2020 12:00am

Bilawal slams huge cut in higher education budget

Chairman Pakistan Peoples Party Bilawal Bhutto Zardari has condemned huge cuts in the higher education budget by the PTI government compelling the public sector universities to take loans from the private sector to run their affairs.

Published 10 Feb, 2020 12:00am

Business & Economy

'Tendering of PWD underpass, Korang bridge, fish-belly in two months'

The tendering for construction of PWD underpass, widening of Korang Bridge and converting Khokar Hotel U-Turn into fish-belly at Islamabad Expressway would be conducted within the next few months, Chairman National Assembly Standing Committee on Interior

Published 10 Feb, 2020 12:00am

Money & Banking

'IMF conditions must be relaxed for economy'

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has emphasized the need that the IMF conditions must be revisited and relaxed otherwise, the government will find it increasingly difficult to abide by the agreement puuttin

Published 10 Feb, 2020 12:00am

Business & Economy

WCCI's women handicraft bazaar held in Peshawar

The 3rd women handicraft bazaar was organised by Women Chamber of Commerce and Industry (WCCI) in Government Technical and Vocational Centre for Women Gulbahar Peshawar on Sunday. The women bazaar was inaugurated by Member of Provincial Assembly, Rabia Ba

Published 10 Feb, 2020 12:00am

PMA for PMDC's revival

Pakistan Medical Association (PMA) has demanded a reinstatement of Pakistan Medical & Dental Council, which should be an autonomous, democratic, transparent and vibrant body comprising of elected and nominated members as per 1962 ordinance.

Published 10 Feb, 2020 12:00am

Massive anti-encroachment drive in Murree on the cards

The Punjab government is planning to launch a massive anti-encroachment drive in Murree to resolve growing traffic-related issues besides restoring natural beauty of the hilly area. This was disclosed by Provincial Minister for Housing, Urban Development

Published 10 Feb, 2020 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: No business in market as price remains stable

The prices of cotton remained stable. There was almost no business in the market. The organizations related to agriculture and economy asked the government to take practical steps to increase the production of cotton. Due to the extraordinary increase in

Published 10 Feb, 2020 12:00am

Business & Economy

Retail market prices of essential kitchen items witness decline

Prices of important kitchen items, like vegetable, pulses, flour, except live chicken/meat, eggs and cooking oil have reduced in retail market, according to a survey carried out by Business Recorder here on Sunday.

Published 10 Feb, 2020 12:00am

AGP detects loss of Rs 260 million in KP Forest department

The Auditor General of Pakistan AGP) has detected a loss of Rs 260.041 million in the Forest Department of Khyber Pakhtunkhwa during financial year 2015-16, said Audit Report 2016-17 on accounts of KP Department.

Published 10 Feb, 2020 12:00am

CM orders proper redressal of public complaints against police

Sindh Chief Minister Syed Murad Ali Shah presiding over Public Safety & Police Complaints Commission meeting decided to present Annual Policing Plan in the cabinet and ordered proper redressal of public complaints being received against the police.

Published 10 Feb, 2020 12:00am

Business & Economy

Pak-Pharma & Healthcare Expo begins tomorrow

A three-day Pak-Pharma and Healthcare Expo-2020 will be held on February 11-13 at the Expo Centre Lahore without the participation of Chinese exhibitors as they have declined to visit Pakistan due to prevailing novel coronavirus situation in China.

Published 10 Feb, 2020 12:00am

Cotton & Textile

PRGMEA demands one-window operation

Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), North Zone Sohail Afzal on Sunday said that value-added garments sector of the textile industry shown the 3.03 percent growth in 2018-19 despite the internal external c

Published 10 Feb, 2020 12:00am

Police kill two suspected militants

Police in Mustang have killed two suspected militants after they tried to snatch the weapons from its personnel, police officials said Sunday. According to the police spokesperson, the policemen found the pins of hand grenades from the pockets of one of t

Published 10 Feb, 2020 12:00am

PTI to hold talks with estranged allies today

In a bid to resolve the differences between ruling Pakistan Tehreek-e-Insaf (PTI) and their allied political parties, the government's negotiating team is set to hold talks with estranged allies today (Monday). The sources privy to the development told <i

Published 10 Feb, 2020 12:00am

AEO Australian education expo attracts hundreds of students in Islamabad

With over 5,000 alumni and 200,000+IELTS registrations, AEO Pakistan over the past two decades has established itself as Australian & Global Education Specialists, the most trusted IELTS Official Test Centre and now the official OET Test Centre in Pakista

Published 10 Feb, 2020 12:00am

Over 1200 students awarded degrees at SSUET's 23rd convocation

Sir Syed University of Engineering & Technology (SSUET), on Sunday organised its 23rd Convocation that was attended by a large number of educationists, scholars, dignitaries including faculty and students.

Published 10 Feb, 2020 12:00am

Brief Recordings

'Payment history can be the biggest relevant database in the country' an interview with Mumtaz Hussain Syed, CEO Tasdeeq

Mumtaz Hussain Syed is the Chief Executive Officer of Aequitas Information Services Limited; Pakistan's first SBP licensed private credit bureau operating under the name Tasdeeq. He has 30+ years of experience in investments, finance and operations across

Updated 10 Feb, 2020 04:16am

Fighting in southwest Cameroon disrupts voting

Fighting between government troops and anglophone separatists in parts of southwest Cameroon Sunday disrupted voting in legislative and municipal elections, local officials and other sources said. The authorities issued no details on casualties.

Published 10 Feb, 2020 12:00am

Close count in Irish vote after Sinn Fein surge

A general election surge in support for Sinn Fein, once the political wing of the IRA, on Sunday upset Ireland's traditional two-party grip on power. Irish officials were counting votes following Saturday's polls with an exit poll forecasting Prime Minist

Published 10 Feb, 2020 12:00am

Thousands from cruise ship in Hong Kong freed after virus tests

Thousands of people stranded aboard a cruise ship in Hong Kong for five days were allowed to disembark on Sunday after its 1,800 crew tested negative for the deadly new coronavirus.

Published 10 Feb, 2020 12:00am

Criticism of US Mideast plan softened in UN draft resolution

A reworked Palestinian resolution has dropped its initial condemnation of President Donald Trump's Mideast peace plan, opting for less confrontational language ahead of a UN Security Council vote, a copy obtained by AFP shows.

Published 10 Feb, 2020 12:00am

Thousands rally in Morocco against Trump Mideast peace plan

Thousands of demonstrators flooded the streets of the Moroccan capital Sunday to protest against a new US Middle East peace plan which the Palestinians say favours Israel. Carrying Palestinian flags, the demonstrators, including local politicians and trad

Published 10 Feb, 2020 12:00am

Orbiter set to launch in mission to reveal Sun's secrets

The European Space Agency is set to embark upon one of its most ambitious projects to date, with the launch late Sunday from Florida's Cape Canaveral of its Solar Orbiter probe bound for the Sun. The mission, due to blast off from the Kennedy Space Center

Published 10 Feb, 2020 12:00am

6.2-magnitude earthquake hits Papua New Guinea

A 6.2-magnitude earthquake struck Papua New Guinea on Sunday, the US Geological Survey said, but no tsunami warning was issued and there were no immediate reports of damage. The quake hit just after 4pm local time (0600GMT) at a depth of 31 kilometres (19

Published 10 Feb, 2020 12:00am

Pope calls for respect of humanitarian law in Idlib

Pope Francis called on Sunday for respect of humanitarian law in Syria's Idlib province, amid an escalation of a Syrian government offensive that has displaced more than half a million in two months. He told tens of thousands of people in St. Peter's squa

Published 10 Feb, 2020 12:00am

Kenyans queue to see body of Moi, country's longest-serving ruler

Kenyans formed long queues on Sunday to glimpse the body of the country's longest-serving leader, Daniel arap Moi, which is on public display ahead of a state funeral service. Moi, who is respected by many despite a 24-year rule infamous for corruption an

Published 10 Feb, 2020 12:00am

Africa holds 'silence the guns' summit as new conflicts grow

The annual African Union summit opened Sunday with leaders vowing that the AU would play a more prominent role in resolving conflicts proliferating across the continent. The theme of the two-day summit is "Silencing the Guns".

Published 10 Feb, 2020 12:00am

Money & Banking

Canadian dollar seen higher

The Canadian dollar will climb over the coming year, recouping much of its recent decline, as the economic threat from a coronavirus outbreak in China likely fades, and some analysts don't expect the Bank of Canada to cut interest rates in 2020, a Reuters

Published 10 Feb, 2020 12:00am

Money & Banking

Emerging market FX set for more pain if coronavirus worsens

Emerging market currencies are at significant risk of weakening this month as the coronavirus epidemic expands, putting pressure on policymakers to step up efforts to prevent further economic damage, a Reuters poll showed. The about-face in fortunes comes

Published 10 Feb, 2020 12:00am

Stocks

Saudi index leads most of Gulf lower; Aramco rebounds

Most major Gulf markets fell on Sunday, led by Saudi Arabia as concerns about the effect of the spread of the coronavirus on oil prices weighed on the country's petrochemical and banking shares. Oil prices posted their fifth straight weekly decline, as sp

Published 10 Feb, 2020 12:00am

Money & Banking

Kazakh tenge seen weakening

The Kazakh tenge is likely to weaken against the dollar this month, trailing lower oil prices, according to a Reuters poll. Four out of seven participants in the poll, which was carried out between Jan. 28 and Feb. 3, expect the currency to depreciate thi

Published 10 Feb, 2020 12:00am

Money & Banking

Bearish bets re-emerge on Asia FX as virus outbreak fuels growth fears

Investors wary about the economic impact of the coronavirus outbreak spreading from China turned bearish on most Asian currencies and went short on the baht for the first time since May 2019, a Reuters poll showed.

Published 10 Feb, 2020 12:00am

Stocks

Trump touts stock market's record run, but who benefits?

Donald Trump loves to trumpet the hot US stock market as a key achievement of his presidency, and he was in full self-congratulatory mode on that front during Tuesday night's State of the Union address. "All of those millions of people with 401(k)s and pe

Published 10 Feb, 2020 12:00am

Money & Banking

Turkey proposes fines for financial market manipulation

Proposed amendments to Turkey's banking laws will introduce fines for financial market manipulation and increase penalties for other violations, the BDDK banking watchdog said on Thursday. The amendments, which state-owned Anadolu agency said were present

Published 10 Feb, 2020 12:00am

Stocks

Hedge funds hold their nerve on China, seek opportunities

Hedge funds are holding their nerve on China's ability to rebound quickly from a coronavirus outbreak that has rattled global markets, but many are also adding caveats as they try to predict the potential economic fallout.

Published 10 Feb, 2020 12:00am

Money & Banking

Argentina's 'little trees' blossom as forex controls fuel black market

On the streets of Buenos Aires, money changers known as "arbolitos" or "little trees" are taking advantage of Argentina's capital controls to take a slice of a booming black market trade in US dollars.

Published 10 Feb, 2020 12:00am

Stocks

Wall Street week ahead: Consumer discretionary names could see bumpy ride

A raft of earnings reports from consumer discretionary companies and US retail sales data set for the coming week could help investors determine to what extent the coronavirus is hitting consumer demand.

Published 10 Feb, 2020 12:00am

Commodities

Destructive locust swarms arrive in Uganda

A locust infestation sweeping the Horn of Africa reached Uganda on Sunday, a government minister said as the prime minister convened an emergency meeting to address the pest invasion.

Published 10 Feb, 2020 12:00am

Commodities

Dubai's Al Khaleej Sugar says operating full capacity after 'bad' year

Dubai's Al Khaleej Sugar, which operates the world's largest port-based refinery of the sweetener, said on Sunday it had been operating at full capacity since late December after a "bad" 2019.

Published 10 Feb, 2020 12:00am

IT & Computers

Food-share apps seeking to help environment

Jack Convery pops into a London branch of Italian eatery Coco di Mama to grab a cut-price lunch ordered on his smartphone's food-sharing app Karma. The 27-year-old Amazon employee - with an eye for a bargain and for helping the environment - uses a mobile

Published 10 Feb, 2020 12:00am

Energy

US seeks Mexico, Canada help to export American coal

US Energy Secretary Dan Brouillette said on Friday that Canada and Mexico could help export US coal to Asia to get around the blocking of shipments by West Coast states concerned about the impact of the fuel on climate change.

Published 10 Feb, 2020 12:00am

IT & Computers

Shenzhen denies blocking Apple supplier Foxconn from resuming production

Local Chinese authorities have not blocked Apple supplier Foxconn from resuming production amid a coronavirus outbreak, they said in a statement on Sunday, denying an earlier report in the Nikkei Business Daily. The Nikkei, citing four people familiar wit

Published 10 Feb, 2020 12:00am

Global Business Economy

Over 70 Singapore Airshow exhibitors have pulled out, public tickets limited

More than 70 trade exhibitors have pulled out of the Singapore Airshow amid concerns over the new coronavirus and the number of public tickets available will be less than half of those on offer in 2018 to limit attendance, the show's organiser said on Sun

Published 10 Feb, 2020 12:00am

Money & Banking

Argentina won't repay IMF debt till recession over

Argentine Vice President Cristina Fernandez de Kirchner said on Saturday that the government will not pay "even half a cent" of its debt back to the International Monetary Fund before the country has exited recession.

Published 10 Feb, 2020 12:00am

Energy

Port chaos leaves Liberian fuel pumps dry

Liberians have faced long queues at petrol pumps for nearly two weeks as sloppy bookkeeping and poor port infrastructure have triggered economically damaging fuel shortages. Incorrect fuel-reserve figures in the impoverished West African country partly le

Published 10 Feb, 2020 12:00am

Energy

Azerbaijan likely to support deeper OPEC+ oil output cuts

Azerbaijan is likely to support further oil output cuts by OPEC and its allies, the ex-Soviet country's energy minister said, should the move be necessary to balance demand fears after a coronavirus outbreak in China. A technical panel that advises the Or

Published 10 Feb, 2020 12:00am

Money & Banking

Abu Dhabi in talks with banks for new debt issues

Abu Dhabi has been in talks with banks for potential debt sales in the international markets this year as the oil-rich emirate plans to engage global fixed income investors on a more regular basis amid low oil prices, sources said. Abu Dhabi, which has on

Published 10 Feb, 2020 12:00am

Money & Banking

China offers $43 billion boost to firms fighting virus

China's central bank said Sunday it will offer a 300 billion yuan ($43 billion) boost next week to help businesses involved in fighting the virus epidemic which has swept China and infected thousands. The outbreak, which started in the central city of Wuh

Published 10 Feb, 2020 12:00am

Global Business Economy

Uber increases quarterly revenue but food delivery costs eat profit

Uber Technologies Inc drew more customers to its ride-hailing and food delivery business in a boost to its fourth-quarter revenue, but high costs at Uber Eats meant Uber continues to lose money as it tries to outspend competitors.

Published 10 Feb, 2020 12:00am

Money & Banking

UniCredit promises to boost investor returns after beating forecasts

Italy's top bank UniCredit on Thursday met its full-year goals after a better-than-expected fourth quarter and pledged to consider boosting investor returns now that most of its turnaround is completed. UniCredit has undergone a major restructuring in the

Published 10 Feb, 2020 12:00am

Money & Banking

MetLife profit tops estimates on higher premiums

US insurer MetLife Inc topped estimates for quarterly profit on Wednesday, as premiums and net investment income rose. Life insurers make money by investing coverage premiums into stocks and bonds, hoping to earn more than what they pay out in claims. The

Published 10 Feb, 2020 12:00am

Global Business Economy

Panasonic posts Q1 profit in US battery business with Tesla

Panasonic Corp reported the first quarterly profit in its US battery business with Tesla Inc on Monday, after several years of production troubles and delays at the US partner.

Published 10 Feb, 2020 12:00am

Global Business Economy

Cathay Pacific asks all staff to take unpaid leave

Hong Kong's flagship carrier Cathay Pacific is asking its entire workforce to take up to three weeks of unpaid leave, its CEO announced on Wednesday, as the airline faces a crisis in the wake of the new coronavirus outbreak.

Published 10 Feb, 2020 12:00am

Money & Banking

BNP Paribas cuts profitability outlook

BNP Paribas SA on Wednesday cut its target for profitability this year and warned revenue from its retail networks in Europe could decline moderately on low interest rates, although fourth-quarter earnings came in ahead of estimates.

Published 10 Feb, 2020 12:00am

Energy

Siemens Gamesa boosting risk management to fend off project delays: CEO

Wind turbine maker Siemens Gamesa is acting fast to manage risks on its projects around the world to avoid a repeat of the delays that dragged it to a loss at the beginning of this year, Chief Executive Marcus Tacke said on Tuesday.

Published 10 Feb, 2020 12:00am

Global Business Economy

Kia in talks over moving $1.1 billion plant to another Indian state

South Korea's Kia Motors is discussing with the Indian state of Tamil Nadu the possibility of moving a $1.1 billion plant out of neighbouring Andhra Pradesh only months after it fully opened, due to policy changes last year, sources close to the talks tol

Published 10 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 23	278.69
USD PKR Interbank Buying / Dec 23	278.43
USD to Japanese Yen / Dec 23	156.63
USD to Swiss Franc / Dec 23	0.90
Pound Sterling to USD / Dec 23	1.26
Euro to USD / Dec 23	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
Nasdaq / Dec 20	19,572.60
Dow Jones / Dec 20	42,840.26
India Sensex / Dec 23	78,595.51
Tokyo Nikkei / Dec 23	39,161.34
Hang Seng / Dec 23	19,857.04
FTSE 100 / Dec 23	8,068.16
Germany DAX 30 / Dec 23	19,830.32

Item	Value
Gold 10 Grams PKR / Dec 20	234,311
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Crude Oil USD/Barrel / Dec 23	69.79
Gold Spot USD/Ounce / Dec 23	2,632.38
Cotton US¢/pound / Dec 23	68.96
Petrol/Litre / Dec 24	252.10

Gainers
Losers
Leaders

Stock	Price
First Capital Equities / Dec 23 First Capital Equities Limited(FCEL)	6.15 ▲ 1.00 (19.42%)
Dewan Sugar / Dec 23 Dewan Sugar Mills Limited(DWSM)	6.60 ▲ 1.00 (17.86%)
Cnergyico PK / Dec 23 Cnergyico PK Limited(CNERGY)	6.83 ▲ 0.92 (15.57%)
Jahangir Sidd(Pref) / Dec 23 Jahangir Sidd(Pref)(JSCLPSA)	9.50 ▲ 0.95 (11.11%)
Chenab Ltd (Pref) / Dec 23 Chenab Limited (Pref)(CLCPS)	3.75 ▲ 0.36 (10.62%)
Dewan Farooque Sp. / Dec 23 Dewan Farooque Spinning Mills Limited(DFSM)	4.72 ▲ 0.45 (10.54%)
Trust Sec.& Brok. / Dec 23 Trust Securities & Brokerage Limited(TSBL)	10.55 ▲ 1.00 (10.47%)
Dawood Equities / Dec 23 Dawood Equities Limited(DEL)	10.63 ▲ 1.00 (10.38%)
HBL Invest Fund / Dec 23 HBL Investment Fund(HIFA)	4.15 ▲ 0.39 (10.37%)

Stock	Price
Sindh Abadgar / Dec 23 Sindh Abadgar's Sugar Mills Limited(SASML)	36.60 ▼ -4.07 (-10.01%)
Blue-Ex Ltd / Dec 23 Blue-Ex Limited (GEM)(GEMBLUEX)	40.87 ▼ -4.54 (-10.00%)
J.A.Textile / Dec 23 J.A. Textile Mills Limited(JATM)	37.72 ▼ -4.19 (-10.00%)
Asia Ins. / Dec 23 Asia Insurance Company Limited(ASIC)	13.96 ▼ -1.55 (-9.99%)
Dar-es-Salaam / Dec 23 Dar-es-Salaam Textile Mills Limited(DSML)	42.01 ▼ -4.58 (-9.83%)
First Tri-Star Mod. / Dec 23 First Tri-Star Modaraba(FTSM)	14.01 ▼ -1.33 (-8.67%)
Dadabhoy Cement / Dec 23 Dadabhoy Cement Industries Limited(DBCI)	6 ▼ -0.54 (-8.26%)
Oilboy Energy / Dec 23 Oilboy Energy Limited(OBOY)	10.46 ▼ -0.93 (-8.17%)
Burj Clean Energy Modaraba / Dec 23 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	8.45 ▼ -0.65 (-7.14%)

Stock	Volume
WorldCall Telecom / Dec 23 Worldcall Telecom Limited(WTL)	99,942,750 ▲ 0.14
Cnergyico PK / Dec 23 Cnergyico PK Limited(CNERGY)	66,327,753 ▲ 0.92
Pace (Pak) Ltd. / Dec 23 Pace (Pakistan) Limited(PACE)	43,280,462 ▲ 0.19
K-Electric Ltd. / Dec 23 K-Electric Limited(KEL)	40,644,312 ▲ 0.37
Sui South Gas / Dec 23 Sui Southern Gas Company Limited(SSGC)	40,619,788 ▲ 0.76
Pak Elektron / Dec 23 Pak Elektron Limited(PAEL)	38,585,180 ▲ 1.96
Fauji Foods Ltd / Dec 23 Fauji Foods Limited(FFL)	35,015,764 ▲ 1.32
P.T.C.L. / Dec 23 Pakistan Telecommunication Company Ltd(PTC)	33,026,526 ▲ 2.58
B.O.Punjab / Dec 23 The Bank of Punjab(BOP)	29,495,012 ▲ 0.26

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