News Archives for Print - 2020-02-11

Print - 2020-02-11

Reappointment of COAS: Notification issued

The Pakistan Tehreek-e-Insaf (PTI) government has reappointed General Qamar Javed Bajwa as the chief of army staff (COAS) for another three years. A notification issued by the Ministry of Defence, however, states that the reappointment of Gen Bajwa is wit

Published 11 Feb, 2020 12:00am

US indicts four Chinese military 'hackers' for Equifax breach

The US Justice Department annou-nced indictments of four members of China's People's Liberation Army for alleged involvement in the massive 2017 hack of the database of giant US credit rating agency Equifax. The hackers are accused of stealing the sensiti

Published 11 Feb, 2020 12:00am

Registration of modaraba company: SECP proposes reduction in application fee

The Securities and Exchange Commission of Pakistan (SECP) has proposed major reduction in application fee from Rs250,000 to Rs100,000 for registration of a modaraba company.

Published 11 Feb, 2020 12:00am

Two fertilizer plants in desperate need of LNG

The two fertilizer plants, which are closed due to non-availability of natural gas, have approached the government, requesting supply of LNG which is $ 2.5/Mmbtu to bridge expected shortfall in production of urea. In a letter to Prime Minister's Advisor o

Published 11 Feb, 2020 12:00am

Two RLNG power plants: due diligence begins

The Ministry of Privatisation has started due diligence in the process of privatisation of two RLNG-based power plants - Haveli Bahadur Shah and Balloki - with an objective to complete the transaction by the end of the current financial year.

Published 11 Feb, 2020 12:00am

Government, TCC still engaged in legal battle

Pakistan and M/s Tethyan Copper Company (TCC), the developer of Reko Diq project in Balochistan are reportedly still engaged in a legal battle at Centre for Settlement of Investment Disputes (ICSID) of the World Bank as the Economic Coordination Committee

Published 11 Feb, 2020 12:00am

Flour crisis, rising commodity prices: Absence of magistracy system cited as major factor

Absence of a magistracy system and the failure of the Finance Ministry to engage with the provinces through convening Price Monitoring Committee (PMC) meetings regularly are being cited as major factors for the flour crisis and increase in price of essent

Published 11 Feb, 2020 12:00am

Government struggles to contain rising inflation

Prime Minister Imran Khan on Monday said the government would leave no stone unturned in providing relief against inflation to general public particularly poor and salaried class. The prime minister was chairing a meeting on providing relief against infla

Published 11 Feb, 2020 12:00am

ECC imposes ban on sugar export

The Economic Coordination Committee of the Cabinet (ECC) has imposed a ban on export of sugar and has directed the provinces to control prices of sugar as it is a provincial subject. The ECC meeting chaired by Adviser to the Prime Minister on Finance Abdu

Published 11 Feb, 2020 12:00am

Stocks

PSX closes in deep red: BRIndex100 plummets

Pakistan Stock Exchange Monday closed in deep red due to across-the-board selling by local and foreign investors. BRIndex100 lost 91.76 points or 2.19 percent to close at 4,090.54 points. BRIndex100 touched intraday high of 4,183.63 and intraday low of 4,

Published 11 Feb, 2020 12:00am

Global Business Economy

Hundreds of Chinese firms seek billions in loans amid coronavirus outbreak

More than 300 Chinese firms including Meituan Dianping, China's largest food delivery company, and smartphone maker Xiaomi Corp are seeking bank loans totalling at least 57.4 billion yuan ($8.2 billion) to soften the impact of the coronavirus, two banking

Published 11 Feb, 2020 12:00am

2nd phase of CPEC: 'Industrialization, transfer of technology are high priorities'

Foreign Minister Makhdoom Shah Mehmood Qureshi Monday said Pakistan's priorities in the second phase of China Pakistan Economic Corridor (CPEC) are industrialization and transfer of technology to bring trade revolution in the country.

Published 11 Feb, 2020 12:00am

Independent foreign policy: Qureshi links it to economic stability

Pakistan cannot articulate independent foreign policy without economic stability, the Foreign Minister Shah Mehmood Qureshi said here Monday. Delivering a lecture on "Strategic Importance of Economic Diplomacy for Pakistan in the 21st Century" at the main

Published 11 Feb, 2020 12:00am

CPPA-G in financial distress

The continuous buildup of energy sector circular debt has reportedly dismayed the Central Power Purchasing Agency-Guaranteed (CPPA-G) prompting it to contend that it does not have sufficient funds to pay 7th installment of mark-up on Rs 50 billion Syndica

Published 11 Feb, 2020 12:00am

Only a fraction of GIDC money spent on projects, SC told

The apex court was informed that though the federal government has collected Rs295 billion in respect of Gas Infrastructure Development Cess (GIDC) in the last 11 years, but only a fraction of the collected amount has been spent on projects.

Published 11 Feb, 2020 12:00am

IT & Computers

Xerox hikes bid for HP to $36 billion

Xerox said Monday it was raising its offer for computer and printer maker HP to some $36 billion as part of an effort to win over shareholders amid a heightened battle for control of the Silicon Valley firm.

Published 11 Feb, 2020 12:00am

LHC chief justice: Justice Qasim's name recommended

The Judicial Commission of Pakistan (JCP) on Monday recommended the name of Justice Muhammad Qasim Khan for the chief justice of the Lahore High Court (LHC). Justice Qasim is the senior puisne judge of the LHC. He will remain CJ LHC till July 5th, 2021.

Published 11 Feb, 2020 12:00am

Senate body seeks report on TTP's Ehsan

Senate Standing Committee on Interior on Monday asked the Ministry of Interior to submit a detailed report before it about the news circulating with respect to the escape of former spokesperson of Tehreek-e-Taliban Pakistan (TTP) Ehsanullah Ehsan from the

Published 11 Feb, 2020 12:00am

Court told IOK leader held for being 'Daddy's girl'

The family of a former occupied Kashmir chief minister went to India's Supreme Court on Monday in a bid to overturn his detention under a law allowing incarceration for up to two years without charge.

Published 11 Feb, 2020 12:00am

Taxation matters: Haroon gives presentation to PM

Prime Minister Imran Khan Monday consulted Former Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan on Federal Board of Revenue's (FBR's) performance. It is learnt that the Haroon Ahktar gave a detailed presentation to the PM and his econo

Published 11 Feb, 2020 12:00am

PTI, PML-Q mend their differences

The Pakistan Tehreek-i-Insaaf (PTI) government and the Pakistan Muslim League-Quaid (PML-Q) have once again mended their differences after negotiations between the two sides on Monday.

Published 11 Feb, 2020 12:00am

Turkey says has 'neutralised' 101 Syrian troops

Turkey said on Monday it had "neutralised" 101 Syrian regime soldiers following a bombardment which killed five Turkish soldiers in northwestern Syria's Idlib region, the last major rebel bastion. The Turkish defence ministry said its troops were pushing

Published 11 Feb, 2020 12:00am

Dar's house as shelter home: LHC suspends Punjab government's decision

The Lahore High Court on Monday suspended the Punjab government's decision to convert a house of former federal minister Ishaq Dar into a shelter home and sought reply from the government and the NAB within ten days in a petition of Tabassum Ishaq, wife o

Published 11 Feb, 2020 12:00am

Letters

'Holding encroachers to account'

This is apropos a Business Recorder editorial "Holding encroachers to account" carried by the newspaper yesterday. First things first, there is no doubt about the fact that the incumbent Chief Justice of Pakistan is a person who even became the Chi

Published 11 Feb, 2020 12:00am

Articles

No phones, no leaks: How Lagarde is making her mark on ECB

Gathered in a German mountain castle last November a/for an evening retreat that ended with a whiskey-tasting, rebel European Central Bank policymakers and Christine Lagarde, their newly confirmed president, made a pact. Lagarde pledged to spend more time

Published 11 Feb, 2020 12:00am

Articles

Maulana's 'assurance'

Maulana Fazlur Rehman, chief of the Jamiat-i-Ulema-i-Islam-Fazl (JUI-F), is a frustrated man. Two rounds of a sit-in in Islamabad and highly ambitious attempted blockage of highways throughout the country last year failed to find traction and had to be ab

Published 11 Feb, 2020 12:00am

Articles

IMF's projections

The article last week by me had assessed the projections made for 2019-20 by the IMF staff following the First Review. This article analyses the projections for the last two years of the Program, 2020-21 and 2021-22. The IMF projections for the next two y

Published 11 Feb, 2020 12:00am

Foreign policy controversy

An unseemly controversy has broken out regarding the country's foreign policy. It all started when some cabinet ministers criticised the handling of policy on Kashmir by the Foreign Office. Minister for Human Rights Shireen Mazari in particular had some t

Updated 11 Feb, 2020 06:50am

Exports and inflation

Advisor to the Prime Minister on Commerce Razzak Dawood expressed optimism for a rise in exports in the current fiscal year, an optimism not backed by recent provisional data released by his ministry that indicates exports declined by 3.4 percent in Janua

Updated 11 Feb, 2020 06:35am

Kamal explains his party's approach to politics

Pak Sarzameen Party Chairman Syed Mustafa Kamal on Monday said that PSP's ideology is the only formula for the well-being of all sub-nationalities of Pakistan. Ethnicity, nationalism and sectarianism are like poison for Pakistan's development and solidari

Published 11 Feb, 2020 12:00am

'Comprehensive' anti-street crimes strategy under way: IG Sindh

Inspector General of Sindh Police Dr. Kaleem Imam has said that a comprehensive strategy to curb street crime in Karachi is underway. Speaking at a meeting of Korangi Association of Trade & Industry (KATI) , he was of view that the most important responsi

Published 11 Feb, 2020 12:00am

Senate passes two bills

The upper house of the Parliament on Monday passed two private member bills; The Islamabad Real Estate (Regulation and Development) Bill 2018 and The National Counter Terrorism Authority (Amendment) Bill 2019 moved by the senators from the treasury benche

Published 11 Feb, 2020 12:00am

Indian diplomat summoned over LoC violations

Pakistan on Monday summoned top Indian diplomat and lodged a strong protest over the recent ceasefire violations by the Indian forces along the Line of Control (LoC).

Published 11 Feb, 2020 12:00am

British HC meets PM

British High Commissioner Dr Christian Turner met Prime Minister Imran Khan on Monday, for an introductory call and to discuss matters of mutual interest between the UK and Pakistan. Prime Minister Imran Khan welcomed the British High Commissioner to Paki

Published 11 Feb, 2020 12:00am

Government criticised for escape of TTP's Ehsan from country

The opposition lawmakers in the National Assembly on Monday severely criticized the government for the escape of former spokesperson of proscribed terrorist outfit Tehreek-e-Taliban Pakistan (TTP) Ehsanullah Ehsan from the custody of security agencies dur

Published 11 Feb, 2020 12:00am

Taxes

FBR, Iran Customs sign MoU on electronic exchange of data

A ceremony was held on 10th Feburary, 2020 in Federal Board of Revenue for signing Memorandum of Understanding (MoU) on Electronic Exchange of Data between Iran Customs and Federal Board of Revenue. The signing Cermony was chaired by Muhammad Javed Ghani,

Published 11 Feb, 2020 12:00am

Coronavirus challenge: Petitioner urges LHC to asks government to take 'appropriate' steps

The Islamabad High Court (IHC) has been approached to direct the government to take appropriate measures including constitution of a medical board and keeping passengers coming from China in quarantine for a reasonable period, in view of the coronavirus o

Published 11 Feb, 2020 12:00am

'Irregularities' in NAECHS: Senate panel seeks report within two days

A Senate panel on Monday while taking serious notice of the irregularities in the National Assembly Employees Cooperative Housing Society (NAECHS) has called for action against those responsible and has sought a report within two days.

Published 11 Feb, 2020 12:00am

Learning levels: Trends show improvement

Trends in learning levels in language and arithmetic from 2014 to 2019 show an improvement from 13% to 17% for grade 5; however, children continue to struggle in grade 3 due to low grasp of foundational skills in basic literacy and numeracy. Despite the r

Published 11 Feb, 2020 12:00am

JV Opal 255 case: Bilawal summoned by NAB

The National Accountability Bureau (NAB) has summoned Pakistan People's Party (PPP) Chairperson Bilawal Bhutto-Zardari to appear before it on February 13 in a case related to a joint venture, JV Opal 255.

Published 11 Feb, 2020 12:00am

Cricket

Parliamentary panel irked by absence of PCB chief

A parliamentary panel on Monday, while expressing serious displeasure over the absence of Pakistan Cricket Board (PCB) Chairperson Ahsan Mani, said if the chairperson did not attend the next meeting the committee would issue him a show cause notice.

Published 11 Feb, 2020 12:00am

Business & Economy

Federal government-funded projects: Sindh receives only 10 percent of funds

Sindh Government received only ten percent of funds for the federally-funded projects in Sindh, which it has been executing in the province against their allocations in Public Sector Development Programme (PSDP) up to mid of January 2020. The provincial g

Published 11 Feb, 2020 12:00am

PM's scholarship: aspirants interviewed

SU Financial Aid Office (SFAO) conducted interviews of the applicants for award of scholarship under Prime Minister's Ehsas Undergraduate Scholarship Program at Shaheed Mohtarma Benazir Bhutto Convention Centre of the varsity. Around 1000 scholarships, ea

Published 11 Feb, 2020 12:00am

KMC holds Hajj ballot for employees

Karachi Metropolitan Corporation (KMC) will send its 16 employees for pilgrimage this year as the Hajj balloting was held here at old KMC building on Monday.

Published 11 Feb, 2020 12:00am

Business & Economy

Government fails to create 'lucrative' tax base: KCCI report

One of the biggest challenges faced by the country remains the government's inability to establish a lucrative tax base. Not surprisingly, simply looking at the tax process with the right intent is enough to highlight a plethora of issues related to proce

Published 11 Feb, 2020 12:00am

Punjab expresses its commitment to human rights

Provincial Minister HR&MA Ijaz Alam Augustine has said that Punjab government is committed to translate the human rights principles enshrined in the constitution. He was talking to a delegation of American consulate consist on political & economic chief B

Published 11 Feb, 2020 12:00am

Energy

Revised prices of RLNG for SSGC, SNGPL notified

The Oil and Gas Regulatory Authority (Ogra) on Monday notified an increase in weighted average sale prices of re-gasified liquefied natural gas (RLNG) for consumers in review for February 2020.

Published 11 Feb, 2020 12:00am

Business & Economy

Implementation of CPEC second phase to begin anytime soon

Pakistan and China are all set to begin implementation of the second phase of China Pakistan Economic Corridor (CPEC) envisaging 27 projects focused on social sectors, poverty alleviation, training, research and improving agriculture productivity at an es

Published 11 Feb, 2020 12:00am

Karandaaz Pakistan signs agreements with Fintechs

Karandaaz Pakistan has signed grant agreements with FinTechs, Oraan Tech (Pvt) Ltd and Techlets (Pvt) Ltd, with funding from Bill & Melinda Gates Foundation. A separate agreement has been inked with NRSP Microfinance Bank with funding from the UK's Depart

Published 11 Feb, 2020 12:00am

Stocks

No abusive market practices found in shares of OGDCL: SECP

The Securities and Exchange Commission of Pakistan (SECP) has not found any irregular patterns, abusive market practices or insider trading in the trading of shares of the Oil and Gas Development Company Limited (OGDCL) on January 22, 2020.

Published 11 Feb, 2020 12:00am

Stocks

Unregulated financing by brokers: SECP bench reduces penalty to Rs 0.5 million

An appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has reduced penalty from Rs1,000,000 to Rs500,000 on securities brokers for violating regulatory framework regarding financing and extending credit.

Published 11 Feb, 2020 12:00am

Post-arrest bails: IHC asks NAB to submit reply

The Islamabad High Court (IHC) on Monday gave the National Accountability Bureau (NAB) three days to submit response regarding post-arrest bails of Pakistan Muslim League-Nawaz (PML-N) leaders Shahid Khaqan Abbasi and Ahsan Iqbal.

Published 11 Feb, 2020 12:00am

Bilawal urges government to revisit IMF agreement in light of realities

Pakistan People's Party (PPP) Chairperson Bilawal Bhutto-Zardari called upon the ruling Pakistan Tehreek-e-Insaf (PTI) to review government's agreement with the International Monetary Fund (IMF). The PPP chairperson expressed these views, while talking to

Published 11 Feb, 2020 12:00am

Business & Economy

Businesses optimistic & have positive outlook for Q1: D&B

Dun & Bradstreet - world's oldest database and risk management company which has recently started its operations in Pakistan, has launched its 'Business Optimism Index' for the Pakistan according to which businesses in the country are overall optimistic a

Published 11 Feb, 2020 12:00am

Web TV, OTT media service: Senate panel rejects Pemra's proposed move

A Senate panel on Monday rejected a proposed move to be initiated by the Pakistan Electronic Media Regulatory Authority (Pemra) for regulating web TV and over-the-top (OTT) media service in the country following the authority failed to establish its juris

Published 11 Feb, 2020 12:00am

Business & Economy

Post Office Department to become largest banking network by December: minister

Federal Minister for Communications Murad Saeed said Pakistan Post Office Department (PPOD) would become the largest banking network of the country by December 2020 and it would disburse remittances, payments under Ehsaas' programme and provide other serv

Published 11 Feb, 2020 12:00am

Money & Banking

Askari Bank, Nadra sign MoU

Askari Bank Limited and National Database & Registration Authority (NADRA) have signed a Memorandum of Understanding through which Askari Bank will offer consumer products to the employees of Nadra at competitive mark-up rates across the country. The MoU

Published 11 Feb, 2020 12:00am

Beautyluxe launches new fragrance

Beautyluxe launched a new Fragrance "JULIETTE HAS A GUN" at Scentsation Dolmen Mall Clifton. The event started with a full swing with guest taking pictures at the Media wall and Podium at the mall and inside the Scentsation outlet. Event was attended by w

Published 11 Feb, 2020 12:00am

District Overseas committee meets

District Overseas Committee meeting was held in the DC Office. Chairperson Mirza Muhammad Asghar, Deputy Commissioner Muhammad Ali and SSP Operations Syed Ali Raza listened to the issues related to various district departments and police of immigrants.

Published 11 Feb, 2020 12:00am

World Epilepsy Day being marked across the world

International Epilepsy Day is being marked on Monday across the world for an opportunity to raise awareness of epilepsy, what it is, how it can be treated, and what is needed to bring treatment to all people who need it. Epilepsy is a mental disease marke

Published 11 Feb, 2020 12:00am

Modi has committed 'Himalayan blunder': Punjab governor

Punjab Governor Chaudhry Mohammad Sarwar has said that Indian Prime Minister Narendra Modi has brought about his own destruction by committing "Himalayan blunder" of introducing controversial citizenship law and imposing curfew in the Indian Occupied Kash

Published 11 Feb, 2020 12:00am

Suspected case of coronavirus surfaces in Multan

A suspected case of coronavirus surfaced in Nishtar Hospital in Multan on Monday. According to hospital sources, a 30-year-old Masood was shifted to isolation ward after his blood samples sent to Islamabad for testing of coronavirus. Masood had done job w

Published 11 Feb, 2020 12:00am

Effie Awards 2020 to be held in April

Effie Awards 2020 will be held on 11th April 2020 organized by Pakistan Advertisers Society (PAS). Effie Awards are regarded as one of the most prestigious accolades in the advertising industry across the world.

Published 11 Feb, 2020 12:00am

Business & Economy

Foundation stone of 'industrial revolution' laid: minister

Punjab Industries and Trade Minister Mian Aslam Iqbal has said that the PTI government has laid the foundation of industrial revolution by setting up new industrial zones across the province. He expressed these views while chairing a departmental meeting

Published 11 Feb, 2020 12:00am

LCWU holds seminar on Kashmir Solidarity Day

Chairman Kashmir Committee Pakistan Syed Fakhar Imam said on Monday that Kashmir issue is not political or military issue but it is purely a human issue. He was addressing the seminar organized by Mass Communication Department of the Lahore College for Wo

Published 11 Feb, 2020 12:00am

Minister reviews steps taken against coronavirus

Punjab Health Minister Dr Yasmin Rashid reviewed the steps being taken for prevention from coronavirus at a high-level meeting held here on Monday. The meeting was convened on the directions of Chief Minister Punjab Sardar Usman Buzdar at CM Office.

Published 11 Feb, 2020 12:00am

Business & Economy

Budget preparations: Talks with stakeholders top priority: minister

Provincial Minister for Finance Makhdoom Hashim Jawan Bakht has said that consultation with stakeholders for budget preparation is top priority as economic revival is not possible without their due participation.

Published 11 Feb, 2020 12:00am

PKI for restarting two urea-manufacturing units

Drawing attention towards an unfolding crisis of Urea shortage, Pakistan Kissan Ittehad (PKI) has urged the government to immediately restart the two shut down urea producing factories (Fatima-DH and Agritech) or import 500,000 tons of urea for further di

Published 11 Feb, 2020 12:00am

29 employees of PSC regularised

The Punjab Seed Corporation (PSC) on Monday regularized 29 employees and 16 officers who were working on contract basis in the organization. Nauman Ahmad Langrial Minister for Agriculture in a meeting distributed orders of regularization of 29 employees u

Published 11 Feb, 2020 12:00am

Articles

PARTLY FACETIOUS: Rising food inflation

"As a matter of curiosity what steps are The Khan likely to take to control inflation?"

Published 11 Feb, 2020 12:00am

Commodities

Jordan seeks to buy 120,000 tonnes feed barley

Jordan's state grain buyer has issued an international tender to purchase 120,000 tonnes of animal feed barley to be sourced from optional origins, European traders said on Thursday. Tender deadline is Feb. 12, traders said.

Published 11 Feb, 2020 12:00am

Commodities

CBOT corn futures up on short-covering

Chicago Board of Trade corn futures ended higher on Friday on chart-based buying and short-covering coupled with optimism about prospects for US agricultural export sales to China, traders said. CBOT March corn settled up 4-1/4 cents at $3.83-1/2 per bush

Published 11 Feb, 2020 12:00am

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,174. The traded value of Metals, Energy and COTS/FX was recorded at PKR 4.863 billion and the number of lots traded was 6,707.

Published 11 Feb, 2020 12:00am

Commodities

Virus continues to take toll on gold demand in China, Hong Kong

The coronavirus epidemic continued to stifle activity in the physical gold markets in top bullion consumer China and Hong Kong this week, while demand was mixed in other Asian hubs. The death toll in mainland China reached 637 on Friday, with a total 31,2

Published 11 Feb, 2020 12:00am

Energy

Asia's gasoline hits two-month high; naphtha down

Asia's gasoline crack extended gains to hit a two-month high of $8.54 a barrel on Friday, as supplies contract on the back of hefty run cuts in China and moderate reduction in gasoline-making units elsewhere in Asia. China's February gasoline shipments, i

Published 11 Feb, 2020 12:00am

Commodities

EU wheat steady on bright export prospects

Euronext wheat edged higher on Friday as strong overseas demand and a four-month low for the euro against the dollar underlined a favourable export outlook for western Europe, offsetting worries about a spreading coronavirus in China. March milling wheat,

Published 11 Feb, 2020 12:00am

Commodities

Canadian canola futures rise

ICE Canadian canola futures edged higher on Friday, helped by a weaker Canadian dollar and modest soyabean strength. Rallies are limited by continued restraints shipping Canadian canola to China amid a diplomatic dispute, a trader said, adding that canola

Published 11 Feb, 2020 12:00am

Commodities

CBOT soyabean futures modestly higher

Chicago Board of Trade soyabean futures closed modestly higher on Friday as light technical buying and strength in corn and wheat offset pressure from expectations of large South American soya harvests, traders said. CBOT March soyabeans settled up 1 cent

Published 11 Feb, 2020 12:00am

Commodities

CBOT wheat futures firm on technical buying

Chicago Board of Trade wheat futures closed higher on Friday on technical buying and short-covering, traders said. CBOT March soft red winter wheat settled up 2-1/2 cents at $5.58-3/4 per bushel. For the week, the contract rose 5 cents a bushel or 0.9%, r

Published 11 Feb, 2020 12:00am

Business & Economy

Activities at Karachi and Qasim Ports

The Karachi Port handled 269,117 tonnes of cargo comprising 173,076 tonnes of import cargo and 96,041 tonnes of export cargo including 10,355 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday.

Published 11 Feb, 2020 12:00am

Energy

SSGC disowns miscreants placing locks on gas meters

Sui Southern Gas Company (SSGC) has disowned the miscreants who are placing locks on gas meters. Company is set on taking action against these miscreants who are trying to tarnish the Company's reputation.

Published 11 Feb, 2020 12:00am

Commodities

Gold closes at Rs 90,600 per tola

Gold trading was closed at Rs90,600 per tola, up by Rs10 on the local market, traders said on Monday.

Published 11 Feb, 2020 12:00am

NA body drops Criminal Law (Amendment) Bill 2019

National Assembly's Sub-Committee on Interior on Monday dropped the Criminal Law (Amendment) Bill 2019 (sections 166A, 166B, 176A, 176B, 176C, 176D, 176E, 176F, 176G and 176H).

Published 11 Feb, 2020 12:00am

Railways Mazdoor Union to hold rally in Lahore on 25th

Hundreds of Railways retired employees and widows were running from pillar to post to get their legitimate dues including pensions for the last one year. This was stated by Central Vice President, Pakistan Railways Mazdoor Union, Muqaddar Zaman in a state

Published 11 Feb, 2020 12:00am

Coronavirus outbreak: Country can face prospects of economic downturn

China's growth rate is projected to decline as a result of the outbreak of the Coronavirus and if prolonged it would hurt economic activities in Pakistan.

Published 11 Feb, 2020 12:00am

Brief Recordings

Understanding the sugar political economy

The PTI-led government is facing a decisive moment' in its tenure thus far. If done right, the ongoing sugar shortfall presents an opportunity for the Prime Minister to not only take on the elite capture he referred to ad nauseum in his 22-year long polit

Updated 11 Feb, 2020 04:39am

IT & Computers

Google draws anger with vacation homes feature

More than 30 travel firms - including TripAdvisor and Expedia - complained on Monday to the EU's powerful anti-trust authority that search giant Google is unfairly trying to encroach on their business.

Published 11 Feb, 2020 12:00am

Telecommunication

Technology firms skipping key mobile fair over virus fears

Major tech companies are skipping the Mobile World Congress this year because of fears over the coronavirus, though Chinese groups and other big names still plan to attend the top industry event. Amazon and Sony said Monday they will stay away from the wo

Published 11 Feb, 2020 12:00am

Global Business Economy

Trump presents budget based on lofty growth assumptions

With months left before US elections, President Donald Trump unveiled a budget roadmap on Monday that abandons key deficit cutting promises based on lofty and unlikely economic growth assumptions. The final spending plan of Trump's first term in office fa

Published 11 Feb, 2020 12:00am

Global Business Economy

China inflation rises

China consumer prices rose at their highest rate in more than eight years, official data showed Monday, with inflation more than expected on the back of Lunar New Year demand and a deadly virus outbreak. Beijing had already been battling a slowing domesti

Published 11 Feb, 2020 12:00am

'Parasite' makes Oscars history with stunning best picture win

South Korean black comedy "Parasite" made movie history at the Oscars on Sunday, becoming the first non-English-language film to win the best picture award - Hollywood's biggest prize of all.

Updated 11 Feb, 2020 05:44pm

Palestinians withdraw request for UN vote on US Mideast plan

The Palestinians have abandoned their request for a vote at the UN Security Council Tuesday on rejecting the US Mideast plan, over a lack of international support, diplomats said. Introduced by Indonesia and Tunisia, the resolution risked not having nine

Published 11 Feb, 2020 12:00am

Money & Banking

Latam assets dip; Brazil's real hits new low

Latin American stocks and currencies were flat on Monday, on little demand for riskier assets in the face of a rising death toll from the coronavirus outbreak in China, while Brazil's real hit a fresh all-time low.

Published 11 Feb, 2020 12:00am

Money & Banking

Dollar hold gains in Asia

The dollar held gains on Monday after job market data provided the latest sign of US economic strength, while worries about the coronavirus epidemic kept other trade-exposed currencies subdued.

Published 11 Feb, 2020 12:00am

Money & Banking

Early trade in New York: Dollar at 4-month highs against euro

The dollar hit a four-month high against the euro on Monday as concerns about the coronavirus boosted demand for safe havens, while a bullish outlook for the US economy and weak data in the eurozone made the greenback relatively more attractive than the s

Published 11 Feb, 2020 12:00am

Money & Banking

Dollar strengthens against euro in Europe

A stronger US dollar dragged the euro down to its lowest level in months as investors expected the US economy to remain resilient to the spread of the coronavirus across the world, with payroll data from last week reinforcing traders' optimism.

Published 11 Feb, 2020 12:00am

Money & Banking

Ghana draws strong demand as sells $3 billion in Eurobonds

Ghana drew strong demand for an issue of hard-currency debt, raising $3 billion in a eurobond auction that the government said on Wednesday was five times oversubscribed.

Published 11 Feb, 2020 12:00am

Money & Banking

Most Asian currencies up as China returns to work

Most emerging Asian currencies firmed on Monday as Chinese authorities lifted some work restrictions and implemented measures to support the economy, though concerns around the virus outbreak persisted due to a mounting death toll.

Published 11 Feb, 2020 12:00am

Money & Banking

Volatile Turkish lira slips again

Turkey's lira slipped in volatile trade on Monday after new government limits on banks' foreign-exchange helped the currency briefly erase Friday's sharp losses before selling resumed.

Published 11 Feb, 2020 12:00am

Money & Banking

Sterling recovers from 2-1/2 months low against dollar

Sterling recovered on Monday from 2-1/2 month lows, holding its own against the broadly stronger dollar following last week's sell-off that was driven by concerns over Britain's trade talks with the European Union.

Published 11 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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