News Archives for Print - 2020-02-14

Print - 2020-02-14

Erdogan arrives to enhance trade, economic ties

Turkish President Recep Tayyip Erdogan arrived here Thursday on a two-day visit. He, along with Prime Minister Imran Khan, will co-chair the 6th Session of the Pakistan-Turkey High Level Strategic Cooperation Council (HLSCC) in the joint cabinet format to

Published 14 Feb, 2020 12:00am

Stocks

PSX hit by profit-taking: BRIndex100 inches down

Pakistan Stock Exchange Thursday opened on a positive note, however failed to maintain the momentum and closed in the red due to selling at the fag end.

Published 14 Feb, 2020 12:00am

NA supports China's efforts

The incarcerated former minister for planning and development of opposition Pakistan Muslim League-Nawaz (PML-N) Ahsan Iqbal on Thursday said that despite passage of 18 months, the PM's adviser on finance has no clue about the economic issues confronting

Published 14 Feb, 2020 12:00am

Coronavirus deaths in China spike

The Chinese province at the centre of the coronavirus outbreak reported a record rise in deaths and thousands more infections using a broader definition on Thursday, while Japan became the third place outside mainland China to suffer a fatality.

Published 14 Feb, 2020 12:00am

IMF chief sees 'mild' virus impact on global economy

It is too early to tell the economic toll from the virus outbreak in China, but the hit to global growth should be "mild," International Monetary Fund chief Kristalina Georgieva said Wednesday.

Published 14 Feb, 2020 12:00am

UK finance minister Javid quits in reshuffle upset

Boris Johnson forced the resignation of his finance minister on Thursday for refusing to toe the line, a sign the prime minister was tightening his control in a government reshuffle designed to deliver his vision for Britain beyond Brexit.

Published 14 Feb, 2020 12:00am

Required information: CCP likely to issue show-cause notices to fertilizer companies

Competition Commission of Pakistan (CCP) is likely to issue show cause notices to fertilizer companies for not providing required information as per the law, well-informed sources told Business Recorder.

Published 14 Feb, 2020 12:00am

Rs 29 billion refunds issued to export sector, NA panel told

The government has informed the National Assembly's Standing Committee on Finance that Rs29 billion sales tax refunds had been issued to the export sector under the fast track system and remaining were also being expedited.

Published 14 Feb, 2020 12:00am

Profiteering, food adulteration: PM directs chief secretaries to chalk out action plan

Prime Minister Imran Khan Thursday directed that a national action plan be formulated within one week against profiteering and adulteration of food commodities.

Published 14 Feb, 2020 12:00am

World Bank identifies challenges to job growth

Owing to the economy's frequent boom and bust cycles, transitions out of agriculture into industry and services in Pakistan have been slow, and the growth of productivity within sectors has been negligible, says the World Bank.

Published 14 Feb, 2020 12:00am

Social media cos will have to open offices in Pakistan: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Thursday said under the Citizens Protection [against Online Harm] Rules 2020, social media companies would have to open offices in Pakistan, follow laws of th

Published 14 Feb, 2020 12:00am

Anti-dumping duty impact on import of duplex board: Senate body seeks detailed report

Senate Standing Committee on Commerce on Thursday sought a detailed report on the circumstance and impact of anti-dumping duty on import of duplex board from China, Indonesia and South Korea being used in domestic matches-making industry and re-exported u

Published 14 Feb, 2020 12:00am

Corporal punishment: IHC suspends Section 89 of PPC

The Islamabad High Court (IHC) Thursday suspended Section 89 of the Pakistan Penal Code (PPC) that allows for the use of corporal punishment by parents, guardians and teachers "in good faith for their benefit."

Published 14 Feb, 2020 12:00am

Big flour mills: CCP may scrutinize production costs, profit margins

The Competition Commission of Pakistan (CCP) may scrutinize the production costs, profit margins, and sales records of the country's big flour mills, as part of an extensive investigation in the wheat flour sector, to punish those who abused their dominan

Published 14 Feb, 2020 12:00am

Deadline for filing Annex-H extended

The Federal Board of Revenue (FBR) has condoned the time limit for filing of Annex-H (stock statement) for the tax periods of July, August and September 2019 up to March 15, 2020.

Published 14 Feb, 2020 12:00am

'National Demand Supply Cell' being established: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said that a National Demand Supply Cell was being established for coordination with the provinces to keep a check on prices of essential commodities across the c

Published 14 Feb, 2020 12:00am

US announces partial Taliban truce amid signs deal is near

The United States has secured of a seven-day reduction in violence in Afghanistan that it hopes will allow it to strike a deal with the Taliban, officials said Thursday.

Published 14 Feb, 2020 12:00am

GIDC collection: SC seeks report about money spent on gas projects

The federal government has been directed to submit how much money, collected under Gas Infrastructure Development Cess (GIDC) has been spent on gas projects and what is the ground situation of the various projects.

Published 14 Feb, 2020 12:00am

MSCI announces results of quarterly index review

MSCI has announced the results of the February 2020 Quarterly Index Review for the MSCI Equity Indexes.

Published 14 Feb, 2020 12:00am

High treason case: Musharraf files appeal against SC registrar's decision

Army Chief General Pervez Musharraf (retd) on Thursday filed an appeal against Supreme Court registrar's decision of refusing to entertain his appeal against the Special Court's decision in the high treason case.

Published 14 Feb, 2020 12:00am

Letters

Can we pursue independent foreign policy?

This is apropos an editorial "Independent foreign policy dependent upon economic stability" carried by the newspaper yesterday. It is quite true that an independent foreign policy of an independent country is always dependent upon economic stability of th

Published 14 Feb, 2020 12:00am

Articles

Macroeconomic stabilisation: Government's, SBP's choice of instruments

This following argument has been prompted by the State Bank of Pakistan's rejoinder to an editorial of this newspaper.

Published 14 Feb, 2020 12:00am

Articles

Policy imperatives for equitable growth and human well-being

No doubt, the current account deficit has tremendously narrowed down on the back of drastic decline in imports. That allows build-up of reserves and so does the increase in portfolio investment that is witnessing an upward trend over the last few months l

Published 14 Feb, 2020 12:00am

Articles

Dealing with 'debtocracy'

Total debt servicing increased by around 57 percent during FY 2018-19 compared with last fiscal year which was driven by higher domestic interest payments (on account of rise in domestic interest rates) while external debt repayments increased significant

Published 14 Feb, 2020 12:00am

Fazlur Rehman's enigmatic claim

On November 13 last year when Maulana Fazlur Rehman called off his 'Azadi March' in Islamabad, many a mind wondered what led to the abrupt end of the fortnight-long sit-in. He had come to the capital to force Prime Minister Imran Khan's resignation, leavi

Updated 14 Feb, 2020 06:43am

The anti-food inflation package

The federal cabinet under the chairmanship of Prime Minister Imran Khan approved a 10 billion rupee subsidy package for the remaining five months of the current fiscal year to the Utility Stores Corporation (USC) - to be disbursed at the rate of 2 billion

Updated 14 Feb, 2020 06:49am

Taxes

Cargo clearance: FBR sets up 'LRMCs' at MCCs

The Federal Board of Revenue (FBR) has established local risk management committees (LRMCs) in each Model Customs Collectorate (MCC) to check risks involved in customs clearance of containerized, LCL and bulk cargos.

Published 14 Feb, 2020 12:00am

Panel for making early appointments of PSOs' heads

A parliamentary panel on Thursday while taking serious notice of non appointment of Pakistan Council for Science and Technology (PCST) chairman has recommended to the government for making early appointments at all public sector organizations (PSOs) opera

Published 14 Feb, 2020 12:00am

Business & Economy

Turkish company keen to expand investments

Koç Holding, the largest Turkish enterprise, has expressed its commitment to further expand its investments and operations in Pakistan. This was stated by Can Dincer, chief commercial officer of Arçelik, a subsidiary of Koç Holding in Turkey, while addres

Published 14 Feb, 2020 12:00am

US praises Pakistan jailing of Hafiz Saeed

The United States on Wednesday praised Pakistan's jailing of the alleged mastermind of the 2008 Mumbai attack, a step long sought by Washington as well as India. The conviction "of Hafiz Saeed and his associate is an important step forward - both toward h

Published 14 Feb, 2020 12:00am

Akbar accuses Bilawal of misleading people

Special Assistant to Prime Minister on accountability Shahzad Akbar, while talking to media outside the Parliament House, said Bilawal Bhutto was misleading the people and his lawyers were misguiding him. He stated that NAB had summoned Bilawal for invest

Published 14 Feb, 2020 12:00am

Property tycoon issued another summon

The Accountability Court hearing fake accounts cases on Thursday issued another summon to a property tycoon to appear before it on March 2nd in a reference. The Accountability Court Judge, Muhammad Bashir, while hearing the case issued another notice of t

Published 14 Feb, 2020 12:00am

Foreign funding case: PPP accuses PTI leader of using delaying tactics

Pakistan People's Party (PPP) has denied that it is shying away from the proceedings of the foreign funding case and has accused the ruling party Pakistan Tehreek-e-Insaf (PTI) leader Farrukh Habib of using delaying tactics to keep the case lingering.

Published 14 Feb, 2020 12:00am

NAB notices won't stop Bilawal from launching movement against government: Khokhar

Senator Mustafa Nawaz Khokhar, spokesperson for Pakistan People's Party (PPP) chairman Bilawal Bhutto-Zardari, has said that whenever his party chairman declares intention to launch an anti-government movement, the National Accountability Bureau (NAB) sta

Published 14 Feb, 2020 12:00am

Government's economic policies: Aseefa to lead protest march if arrested, says Bilawal

Pakistan People's Party (PPP) chairperson Bilawal Bhutto-Zardari on Thursday warned the government if he was arrested by the National Accountability Bureau (NAB), Aseefa Bhutto-Zardari along with his party workers would carry on the march against governme

Published 14 Feb, 2020 12:00am

Business & Economy

PBIF chief demands new strategic trade policy framework

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Mian Zahid Hussain has said that the new Strategic Trade Policy Framework 2020-25 policy should not be left at the mercy of bureaucracy otherw

Published 14 Feb, 2020 12:00am

Iraq to reopen consulate in Karachi shortly: diplomat

Charge d' Affaires at the Embassy of Iraq in Pakistan, Abdulsalam Saddam Mohaisen has informed that Iraq is looking forward to reopen its Consulate in Karachi very soon which will be providing all visa related services to the citizens of the port city.

Published 14 Feb, 2020 12:00am

Money & Banking

Forex reserves up by $91 millions

The country's liquid foreign exchange reserves rose by $91 million during last week, the central bank said. According to the weekly report issued by the State Bank of Pakistan issued Thursday, Pakistan's total liquid foreign exchange reserves stood at $18

Published 14 Feb, 2020 12:00am

Huge quantity of hashish seized in Kandiaro Rasoolabad

Sindh Excise and Taxation department on Thursday claimed to have substantial quantity of hashish at Kandiaro Rasoolabad. According to details, during the ongoing operation against drug dealers under the direction of the provincial minister, excise police

Published 14 Feb, 2020 12:00am

Money & Banking

Soneri Bank earns Rs 1.906 billion PAT in FY19

The Board of Directors of Soneri Bank Limited, in their 175th meeting held in Lahore on 13th February 2020, approved the Bank's financial statements for the year ended 31 December 2019. The Bank posted profit before tax (PBT) of Rs3.247 billion and profit

Published 14 Feb, 2020 12:00am

Dual nationality case: SHC issues notices to ECP, Vawda

Sindh High Court (SHC) Thursday issued notices to the Election Commission of Pakistan (ECP), Faisal Vawda, Federal Minister Water Resources and others in a petition, seeking the disqualification of Vawda for concealing his "dual nationality."

Published 14 Feb, 2020 12:00am

KE launches 'School Safety Awareness Drive 2020'

K-Electric on Thursday launched its School Safety Awareness Drive 2020, with an objective to impart the very basic safety education amongst as many as 100,000 children of over 300 educational institutions.

Published 14 Feb, 2020 12:00am

Money & Banking

Year ended December 31, 2019: Meezan Bank's PAT soars to Rs 15.23 billion

The Board of Directors of Meezan Bank Limited in its meeting held here Wednesday (Feb 12) approved the audited unconsolidated financial statements of the Bank and its consolidated financial statements for the year ended December 31, 2019. The meeting was

Published 14 Feb, 2020 12:00am

PHEC, NHSRC join hands to control smoking at HEIs

Punjab Higher Education Commission (PHEC) and Tabacco Smoke-free Cities Project of Minister of National Health Services, Regulations, and Coordination (NHSRC) signed a Letter of Intent (LOI) in a formal ceremony held here Thursday at PHEC Head Office, Lah

Published 14 Feb, 2020 12:00am

Secretariat of South Punjab to be set up anytime soon: Buzdar

Chief Minister Punjab Sardar Usman Buzdar Thursday said the PTI has good relations with its allies and contrary to the wishes of the opponents; this alliance is stronger than before. "This alliance is in the larger interest of the country and the governme

Published 14 Feb, 2020 12:00am

Business & Economy

Ultimate beneficial owners: Foreign companies required to provide details

The Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for foreign companies operating in Pakistan to provide details of their ultimate beneficial owners. The SECP has issued SRO 81 (I)/2020 here on Thursday to issue draft amendme

Published 14 Feb, 2020 12:00am

118 water filtration plants to be installed in Lahore

The district administration would install 118 water filtration plants in the city for supply of clean water to citizens. Sources said an allocation of Rs428.4 million has been earmarked by the Punjab government. A joint meeting of district administration

Published 14 Feb, 2020 12:00am

Energy

SNGPL rules out revision in gas tariff

In the greater interest of the consumers, Sui Northern Gas has clarified that the consumers are being misled through messages on social media and Whatsapp. SNGPL Spokesperson said that the advertisement issued by the company shows estimated gas bills unde

Published 14 Feb, 2020 12:00am

CII chief, German envoy discuss polio eradication efforts

Chairman Council of Islamic Ideology (CII) Dr Qibla Ayaz and German Ambassador Bernhard Schagheck Thursday discussed the issues of mutual interest including, efforts for polio eradication. German Ambassador was accompanied by First Secretary at German Emb

Published 14 Feb, 2020 12:00am

Business & Economy

Pakistan-Turkey Business Investment Forum today

Board of Investment (BoI) is organising on Friday (today) a Pakistan-Turkey Business Investment Forum to boost bilateral investment in both the countries. According to officials of the BoI, the business-to-business meetings started on Thursday. Subsequent

Published 14 Feb, 2020 12:00am

Money & Banking

NBP holds seminar on 'anti-money laundering'

The National Bank of Pakistan Regional Office Peshawar on Thursday held an awareness seminar on anti money laundering measures for bank account holders of different banks. Senior Vice President of NBP M Nadeem and Regional Executive Mohammad Fida informed

Published 14 Feb, 2020 12:00am

Federal Sectt officials 'threaten to observe pen-down strike'

The federal secretariat employees have reportedly threatened to go on pen down strike next month if their salaries are not increased with immediate effect. In an anonymous letter circulating on the social media, without addressing any office holder(s)/aut

Published 14 Feb, 2020 12:00am

Issuance of wrong arrest warrants by NAB also a corruption: IHC

The Islamabad High Court (IHC) on Thursday observed that issuance of wrong arrest warrants by the National Accountability Bureau (NAB) was also a corruption. Chief Justice of the IHC Athar Minallah observed this, while hearing a bail plea of post-arrest b

Published 14 Feb, 2020 12:00am

Stocks

Most major Gulf bourses ease on lacklustre results

Most major Gulf stock markets retreated on Thursday, as weak corporate earnings continue to weigh on investor sentiment, while Dubai bucked the trend supported by Dubai Islamic Bank.

Published 14 Feb, 2020 12:00am

Stocks

Indian shares down

Indian shares inched lower on Thursday due to concerns around growth after data showed a surprise drop in industrial output for December and a rise in January inflation to a six-year high.

Published 14 Feb, 2020 12:00am

Stocks

Tokyo stocks wobble

Japanese shares wobbled on Thursday as a sharp jump in the death toll from the coronavirus triggered concerns that the epidemic could get worse before it is brought under control.

Published 14 Feb, 2020 12:00am

Stocks

Thursday's early trade: Defensive stocks lift S&P, Nasdaq

Defensive stocks helped the S&P 500 and the Nasdaq erase losses to trade flat on Thursday, even though a sharp rise in new

Published 14 Feb, 2020 12:00am

Stocks

Wall Street sets record closing highs

Wall Street closed at record highs on Wednesday as news that the coronavirus outbreak could be running out of steam kept buyers in the ring.

Published 14 Feb, 2020 12:00am

Stocks

Hong Kong shares off 3-week high

Hong Kong stocks fell from a three-week high on Thursday as worries over the coronavirus outbreak heightened after the number of new confirmed cases and deaths soared in China's Hubei province.

Published 14 Feb, 2020 12:00am

Stocks

Treasury yields up as new coronavirus cases decline

US Treasury yields rose on Wednesday amid renewed risk tolerance after a reported drop in the number of new coronavirus cases in China alleviated some concerns about economic growth.

Published 14 Feb, 2020 12:00am

Stocks

Australian shares up, New Zealand down

Australian shares ended higher on Thursday on gains in financial stocks, although the benchmark pulled back from a record peak hit early in the session as new coronavirus cases in China surged.

Published 14 Feb, 2020 12:00am

Stocks

China stocks snap 7-day winning streak

China stocks closed lower on Thursday, after having gained for seven straight sessions, as Hubei province reported a sharp jump in new cases and deaths due to the coronavirus outbreak.

Published 14 Feb, 2020 12:00am

Stocks

Linde surge helps European shares end flat

European shares fell marginally for the first time in three sessions on Thursday as a surge in new coronavirus cases in China wiped out any optimism about a slowing spread rate in China, but Linde's record high on upbeat growth outlook helped offset losse

Published 14 Feb, 2020 12:00am

Stocks

Italy leads eurozone bond rally

Italy led a rally in euro zone bond markets on Thursday, with 10-year Italian bond yields hitting four-month lows on growing confidence the ECB will keep monetary policy easy for longer to protect the economy from the fallout of coronavirus.

Published 14 Feb, 2020 12:00am

Stocks

Most SE Asian markets drop as coronavirus cases jump

Most Southeast Asian stock markets closed lower on Thursday as a sharp rise in new coronavirus deaths and infections shattered hopes that the virus outbreak had peaked.

Published 14 Feb, 2020 12:00am

Stocks

FTSE ends winning streak, virus fears persist

London's blue-chip index fell on Thursday after two successive days of gains, dragged down by exporters which were hurt by a stronger pound as investors positioned for a higher-spending budget next month under a new British finance minister.

Published 14 Feb, 2020 12:00am

'Int'l Epilepsy Day' marked at Shifa Hospital

International Epilepsy Day is being marked today worldwide 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.

Published 14 Feb, 2020 12:00am

Business & Economy

LCCI hails Turkish president's visit as historic

The Lahore Chamber of Commerce and Industry (LCCI) welcoming the historic visit of Turkish President Recep Tayyip Erdogan to Pakistan, has hoped that it would prove to be another milestone in further cementing the bilateral ties and cooperation between th

Published 14 Feb, 2020 12:00am

Business & Economy

PIEDMC offers investors to set up factories in SEZs

The Punjab Industrial Estates Development & Management Company (PIEDMC) has offered the local and foreign investors to set up their factories in four special economic zones (SEZs) in the Punjab province.

Published 14 Feb, 2020 12:00am

Energy

High power tariff: Exporters threaten to go on strike if government fails to honour commitment

The members of value-added knitwear industry have threatened to go on strike if government's commitment of providing electricity to the export sector at regionally competitive rate of 7.5 cents/KWh is not fulfilled by Monday, next week.

Published 14 Feb, 2020 12:00am

TFCL launched to finance education services

Taleem Finance Company Ltd. (TFCL), a Non-Banking Finance Company (NBFC) set up with a license from Securities and Exchange Commission of Pakistan (SECP), launched with the objective of providing education finance services to low and middle cost private s

Published 14 Feb, 2020 12:00am

GST on agriculture inputs will reduce productivity: PKI

Pakistan Kissan Ittehad (PKI) President Khalid Mahmood Khokhar reacting to news of the increase in GST on agricultural inputs has said that if implemented this will result in disaster for Growers.

Published 14 Feb, 2020 12:00am

Business & Economy

'10th Pak Pharma & Healthcare Expo' concludes

The three-day 10th Pak Pharma and Healthcare Expo has concluded here on Thursday and during the event approximately business deals worth Rs200 million were struck between pharmaceutical companies, including international companies.

Published 14 Feb, 2020 12:00am

Erdogan's visit to further cement Pak-Turkish ties: Sarwar

Warmly welcoming Turkish President Recep Tayyip Erdogan visit to Pakistan, Punjab Governor Chaudhry Mohammad Sarwar Thursday said that this visit will not only further strengthen Pak-Turk bilateral relations but also be 'very important' with regard to Pak

Published 14 Feb, 2020 12:00am

Indonesian envoy calls for strengthening agriculture, academic ties

Indonesian Ambassador to Pakistan Iwan Suyudhie Amri has said that Indonesia and Pakistan agriculture and academic bilateral ties will be further strengthened to get benefit from each other experiences.

Published 14 Feb, 2020 12:00am

Energy

'8,200 schools to be switched on solar energy by March'

Punjab Energy Minister Dr Akhtar Malik has said that a total of 8200 schools would be shifted to solar energy by March 2020.

Published 14 Feb, 2020 12:00am

Articles

Partly Facetious : The 'hollowed' IMF corridors

"Hafeez Sheikh said those who are criticising the International Monetary Fund package would not be allowed in the hallowed IMF corridors in Washington DC."

Published 14 Feb, 2020 12:00am

Energy

Oil prices climb on prospects for deeper OPEC+ output cuts

Oil prices edged higher on Thursday, as investors hoped the world's biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.

Published 14 Feb, 2020 12:00am

Commodities

Copper, other industrial metals move up

Copper and other industrial metals prices rose on Thursday as traders shrugged off figures showing thousands more coronovirus cases and attention moved to the potential for China's efforts to stop the spread of the virus to disrupt supply.

Published 14 Feb, 2020 12:00am

Commodities

US MIDDAY: Soyabean futures up

US soyabean futures rose on Thursday, rallying from early declines on short-covering and prospects for China to step up purchases of US supplies as the US-China Phase 1 deal goes into effect in the coming days, traders said.

Published 14 Feb, 2020 12:00am

Commodities

US MIDDAY: Gold rises

Gold prices jumped to their highest in more than a week on Thursday after a sharp increase in the number of new coronavirus cases in China renewed fears over global economic impact and persuaded investors to seek lower-risk assets.

Published 14 Feb, 2020 12:00am

HEC allows admissions to SUIT Peshawar through DEP

The Higher Education Commission (HEC) has approved admissions through distance education programmes (DEP) to Sarhad University of Science and Information Technology (SUIT) Peshawar.

Published 14 Feb, 2020 12:00am

Business & Economy

ICI Pakistan partners with CERB for SDG

ICI Pakistan Limited partnered with the Pakistan Business Council's Centre of Excellence in Responsible Business (CERB) to organise a workshop and panel discussion highlighting the importance of sustainability practices. The workshop held at Karachi's Mar

Published 14 Feb, 2020 12:00am

Brief Recordings

An interview with Dr Shamshad Akhtar, former SBP governor 'Macroeconomic stabilization still very vulnerable'

With more than 37 years of experience behind her, Dr Shamshad is no stranger to Pakistan's economy, nor needs long introductions. Former central bank governor of Pakistan, Dr. Akhtar has served in top positions of multilateral institutions as Vice Preside

Updated 14 Feb, 2020 04:33am

Equatorial Guinea denounces France, Spain, US for 'interference'

Equatorial Guinea on Thursday accused the French, Spanish and US ambassadors of interfering in its affairs by allegedly preventing investigators from arresting a high-profile suspect in the 2017 coup bid. The authorities are upset that the three ambassado

Published 14 Feb, 2020 12:00am

Soviet spy hailed by Russia for 'saving Krakow' dies at 103

Russia on Thursday announced the death at 103 of veteran Soviet spy Alexei Botyan, whom it hailed as a hero for "saving" the Polish city of Krakow from the Nazis, although Poland disputes Moscow's version of events.

Published 14 Feb, 2020 12:00am

Rocket hits Iraq base hosting US troops: security sources

A rocket slammed into an Iraqi base where American troops are stationed in the remote province of Kirkuk, Iraqi and US security sources told AFP on Thursday night. There were no immediate reports of casualties. According to three separate Iraqi security s

Published 14 Feb, 2020 12:00am

Hundreds of Iraqi women defy cleric to protest authorities

Hundreds of Iraqi women of all ages flooded central Baghdad Thursday alongside male anti-government protesters, defying an order by powerful cleric Moqtada Sadr to separate the genders in the rallies.

Published 14 Feb, 2020 12:00am

Global Business Economy

Airline ad about imported Scandi traditions sparks turbulence

A new commercial from airline SAS challenging the authenticity of Scandinavian traditions has provoked furore in the form of cyber attacks, a wave of social media anger and bomb threats against the ad agency behind it. On Thursday morning, Danish police c

Published 14 Feb, 2020 12:00am

Telecommunication

Huawei hit with new US charges of trade secrets theft

Huawei was hit Thursday with new US criminal charges alleging the Chinese tech giant engaged in a "decades-long" effort to steal trade secrets from American companies. A US indictment unsealed in New York alleges Huawei conspired "to misappropriate intell

Published 14 Feb, 2020 12:00am

Turkey threatens force against 'radicals' in Syria's Idlib

Turkey on Thursday threatened to use force against "radicals" in Syria's Idlib province after Russia accused Ankara of failing to "neutralise" jihadist groups under a 2018 deal. "Force will be used in Idlib against those who do not abide by the ceasefire,

Published 14 Feb, 2020 12:00am

Russia fines Twitter, Facebook for keeping data abroad

A Moscow court on Thursday fined social networking giants Twitter and Facebook for ignoring a Russian law requiring them to store Russian citizens' user data inside the country. A court slapped the US-based companies with fines of four million rubles each

Published 14 Feb, 2020 12:00am

Syria parliament recognises Armenian genocide

Syria's parliament on Thursday recognised the 1915-1917 killings of up to 1.5 million Armenians as genocide, as tensions run high with Turkey after deadly clashes in northwest Syria. "The parliament... condemns and recognises the genocide committed agains

Published 14 Feb, 2020 12:00am

IT & Computers

Facebook spars with EU regulator over dating app delay

Facebook and its Irish data regulator gave conflicting signals Thursday about what caused the tech giant to postpone the European launch of its vaunted dating app. The California-based behemoth stood up a chunk of its 2.5 billion monthly users on the eve

Published 14 Feb, 2020 12:00am

Venezuela asks ICC to probe US sanctions

Venezuela said Thursday it had asked the International Criminal Court to investigate US sanctions against Nicolas Maduro's government as possible crimes against humanity. Foreign Minister Jorge Arreaza said that in a "historic event" he had formally refer

Published 14 Feb, 2020 12:00am

Saudi Arabia shivers in worst cold spell since 2016

Saudi Arabia is experiencing its coldest weather since 2016, meteorologists said Thursday, with overnight temperatures dropping below zero in the country's north over the past two days.

Published 14 Feb, 2020 12:00am

US Senate votes to restrain Trump from attacking Iran

The US Senate voted Thursday to restrain President Donald Trump from attacking Iran, with eight members of his Republican Party bucking their leadership to agree. The resolution, which requires Trump to seek explicit authorization from Congress before fur

Published 14 Feb, 2020 12:00am

Commodities

CBOT corn futures rise

Chicago Board of Trade corn futures ended higher on Wednesday, tracking broad-based strength in commodities and Wall Street equity markets tied to hopes the coronavirus epidemic in China will be contained.

Published 14 Feb, 2020 12:00am

Commodities

CBOT wheat rebounds from two-month low

Chicago Board of Trade wheat futures closed higher on Wednesday, rebounding from a near two-month low, following broad strength in commodities and Wall Street equities tied to optimism that the coronavirus epidemic will be contained, traders said.

Published 14 Feb, 2020 12:00am

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,180. The traded value of Metals, Energy and COTS/FX was recorded at PKR 3.010 billion and the number of lots traded was 5,836.

Published 14 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

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

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

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

Gainers
Losers
Leaders

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

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

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

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