News Archives for Print - 2020-02-17

Print - 2020-02-17

Southeast Asia feels the burn as virus keeps Chinese tourists at home

Elephant parks unvisited, curios at markets unsold as tuk-tuks sit idle: Southeast Asia is facing billions of dollars in losses from a collapse in Chinese tourism since the outbreak of a deadly new coronavirus. From Luang Prabang in northern Laos to Patta

Published 17 Feb, 2020 12:00am

1263.2MW Trimmu plant: Government may sign GSA & PPA on 'as available' basis

The government is likely to sign Gas Supply Agreement (GSA) and Power Purchase Agreement (PPA) on 1263.2 MW Trimmu on "as available" basis instead of "take or pay" basis to avoid financial burden.

Published 17 Feb, 2020 12:00am

Wheat flour crisis: JIT yet to contact CCP

The Joint Investigation Team (JIT) led by FIA Director General Wajid Zia, constituted by Prime Minister Imran Khan to probe the wheat flour crisis, has not yet contacted the Competition Commission of Pakistan (CCP) to get its perspective on any possible c

Published 17 Feb, 2020 12:00am

Over Rs 50 billion inconsistency in pending refund claims

There is an inconsistency of over Rs 50 billion between the pending refund claims cited by tax authorities and those claimed by the exporters. According to the Federal Board of Revenue (FBR), the total pending refund claims of sales tax, income tax and du

Published 17 Feb, 2020 12:00am

40 US nationals infected on Japan ship as others fly home

Forty Americans are among hundreds with the new coronavirus on a cruise ship quarantined off Japan, a US official said on Sunday, after other Americans on board left for chartered flights home. The evacuation coincided with stepped-up warnings from Japane

Published 17 Feb, 2020 12:00am

Coronavirus could damage global growth: IMF

The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow. "There may be a cut that we are still hoping would be in the 0.1-0.2 percentage space," the managing dir

Published 17 Feb, 2020 12:00am

Money & Banking

Steady trend

The rupee posted fresh gains against the dollar during the week, ended on Feb 15, 2020.

Published 17 Feb, 2020 12:00am

Five dead after inhaling toxic gas in Karachi

Five persons, including an elderly woman died, while 50 others became unconscious after inhaling toxic gas in Keamari area, here on Sunday, said police, Aaj News reported. South Zone DIG Sharjeel Kharal said that a total of 50 persons, all of whom were re

Published 17 Feb, 2020 12:00am

Stocks

Futures spread down by 845 basis points

The futures spread declined by 845bps to 8.14 percent on the last day of the outgoing week. Trading activities on the futures counter improved as average daily volumes increased by 22.2 percent to 76.72 million shares as compared to previous week's averag

Published 17 Feb, 2020 12:00am

Stocks

Positive trend witnessed

Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on February 14, 2020 on the back of fresh buying in various sectors. BRIndex100 gained 22.55 points on week-on-week basis to close at 4,204.85 points. Average daily volumes st

Published 17 Feb, 2020 12:00am

Pakistan-India relationship: UN chief says wants to defuse hostility

United Nations Secretary General António Guterres on Sunday expressed 'deep concern' over the tension between Pakistan and India and offered his 'good offices' to defuse hostility while urging both sides to 'exercise restraint'.

Published 17 Feb, 2020 12:00am

India women facing sedition charges over school play get bail

Two women held for two weeks by Indian police on sedition charges over a school play which allegedly criticised a contentious citizenship law have been granted bail, officials said Sunday. Teacher Fareeda Begum, 50, and parent Nazbunnisa, 36, were arreste

Published 17 Feb, 2020 12:00am

Oman sees biggest Gulf clash risk in Strait of Hormuz

The risk of a military confrontation is higher in the Strait of Hormuz than anywhere else in the Gulf region, Oman's foreign minister said, due in part to the growing number of military vessels from different countries that are guarding it. The waterway b

Published 17 Feb, 2020 12:00am

Israel strikes Gaza, cancels easing of restrictions

The Israeli air force attacked Hamas positions in the Gaza Strip on Saturday in retaliation to rocket fire from the Palestinian enclave into Israel, a military statement said. The exchange of fire between both sides has escalated since last month after US

Published 17 Feb, 2020 12:00am

Elimination of exemptions/concessions: FBR starts working on budget plan

Federal Board of Revenue (FBR) has started working on the development of budget strategy paper for financial years 2020-21 - 2022-23 with the prime objective to eliminate exemptions/concessions, it has been learnt here. According to sources, the FBR on th

Published 17 Feb, 2020 12:00am

PBA condemns murder of newsman

Pakistan Broadcasters Association has strongly condemned the brutal murder of Aziz Memon a reporter of KTN News in Mehrabpur Sunday. The deadly attack on Memon while he was performing his duty and because of his work is an attack on freedom of expression.

Published 17 Feb, 2020 12:00am

Pakistan beat India in Kabaddi World Cup

Pakistan became Kabaddi world champions Sunday after narrowly beating arch rivals India who played even though authorities at home vowed to investigate why a team competed despite a ban on sporting ties. In final, Pakistan fought back in the second half t

Published 17 Feb, 2020 12:00am

Lebanese national carrier to only accept US dollars

Crisis-hit Lebanon's national carrier will only accept payments in US dollars from Monday, according to state media. Lebanon is in the throes of an economic meltdown and a biting liquidity crunch that has seen the local currency depreciate on the parallel

Published 17 Feb, 2020 12:00am

Country under severe locusts' attack after 27 years: minister

Minister for Food Security and Research Khusro Bakhtiyar said Pakistan was under severe locust attack after 27 years which posses a substantial threat to food security in the country.

Published 17 Feb, 2020 12:00am

Iran's beleaguered President Rouhani rules out resigning

Iran's President Hassan Rouhani on Sunday ruled out resigning and vowed to see out his term, even as he admitted he had offered to step aside twice since being elected. Speaking ahead of a general election next Friday, Rouhani also appealed to voters to t

Published 17 Feb, 2020 12:00am

Qatar says talks stall with Saudi to defuse Gulf crisis

Talks between Doha and Riyadh to resolve a two-year regional spat have stalled, Qatar's foreign minister said, after a flurry of diplomacy late last year raised hopes the damaging rift was being healed. "We have always been very open for dialogue, since t

Published 17 Feb, 2020 12:00am

COAS condoles death

Chief of Army Staff (COAS) General Qamar Javed Bajwa Sunday expressed his grief on the demise of Special Assistant to the Prime Minister on Political Affairs Naeemul Haq. According to Inter Services Public Relations (ISPR), the COAS prayed for the decease

Published 17 Feb, 2020 12:00am

Naeemul Haq laid to rest

The ruling Pakistan Tehreek-e-Insaf (PTI)'s founding leader Naeemul Haq, who died of protracted illness a day earlier, was laid to rest in Gizri graveyard in DHA, amid tears and anguish on Sunday. Haq, who was considered to be close aide of Prime Minister

Published 17 Feb, 2020 12:00am

Letters

Article 6

Article 6 of Constitution of Pakistan appears to have been turned into a joke by our politicians. Prime Minister Imran Khan has underscored the need for trying JUI-F chief Maulana Fazlur Rahman under this constitutional provision. In a tit-for-tat respons

Published 17 Feb, 2020 12:00am

Articles

Miners welcome South Africa's plans to open up power generation

South Africa's announcement that it will open up electricity generation to other players, effectively breaking Eskom's monopoly, has been welcomed by many, especially the mining industry, a key sector in Africa's most industrialised economy. President Cyr

Published 17 Feb, 2020 12:00am

Articles

Lessons from Turkey

"Istanbul a couple of decades ago was more like an African city than a European city", said one of the Pakistanis living in Turkey for 30 years. Hard to imagine as you come out of the largest airport hub in the world where Turkish airlines has overtaken E

Published 17 Feb, 2020 12:00am

Articles

Truths, half truths and then...

The unchallenged legacy of Donald Trump's presidency has been an almost routine fact-check of all statements he makes. This exercise has become increasingly relevant in assessing the grandiose claims by stakeholders, including Pakistani federal ministers.

Published 17 Feb, 2020 12:00am

ATC verdict

It was a long time coming. An anti-terrorism court has finally handed five and a half years' rigorous imprisonment, each, to chief of the proscribed militant outfit, Jamaatud Dawa (JuD) and his close associate Malik Zafar Iqbal, in two cases of terror fin

Updated 18 Feb, 2020 06:11am

Rise in remittances

A consistently rising trend in home remittances is indeed a source of great satisfaction for the economic policymakers of the country. According to the latest data released by the State Bank, overseas Pakistani workers remitted dollar 13.302 billion from

Updated 18 Feb, 2020 06:10am

Hafiz-e-Quran found dead

Muhammad Kashif s/o Noor Muhammad student of Jamia Masjid Sughran Abdullah, in Muhammadia Colony Sargodha was found dead in mysterious circumstances at Namaz-e-Fajar in Samanabad's Jamia Masjid, here today. Samanabad Police stated that a short iron was fo

Published 17 Feb, 2020 12:00am

AKU's fifth Annual Surgical conference concludes

Aga Khan University Hospital's 5th Annual Surgical Conference Trauma 'striving for change' was concluded here on Sunday. The closing session of the three-day symposium 'Transforming Tragedy into Change' shed light on emergency and trauma care shortfalls f

Published 17 Feb, 2020 12:00am

Money & Banking

Askari Bank posts record profit

Askari Bank announced its results for 2019 showing highest-ever profit of Rs 7.03 billion, a 59 percent increase from last year. EPS for 2019 is reported at Rs 5.58 compared to Rs 3.51 last year. The Bank also announced a cash dividend of Rs 1.5 per share

Published 17 Feb, 2020 12:00am

Business & Economy

KCR track's survey begins

Pakistan Railways Karachi division has initiated survey on the existing track of the Karachi Circular Railway (KCR) with prime focus on commuters' facilitation on modern lines. Deputy director PR at Divisional Superintendent (DS) office Karachi Tariq Asla

Published 17 Feb, 2020 12:00am

Business & Economy

Pak-Turkey FTA: ICCI chief foresees huge opportunity

President Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Ahmed Waheed on Sunday observed huge trade opportunities after signing of Free Trade Agreement (FTA) between Pakistan and Turkey, would also help balancing the trade volume between the t

Published 17 Feb, 2020 12:00am

Dialogue must to address water crisis: Amin

Adviser to the Prime Minister on Climate Change Malik Amin Aslam Sunday said the Indus Water Treaty between India and Pakistan overlooked climate changes and decreasing level of underground water that were creating water crisis in the country. He made the

Published 17 Feb, 2020 12:00am

PDMA reconstructs 30 flood-damaged schools

The Provincial Disaster Management Authority (PDMA) has reconstructed and handed over 30 flood affected schools to Education Department KP while work on 80 other damaged schools is in progress across the province.

Published 17 Feb, 2020 12:00am

Punjab government's agenda is to serve masses: Buzdar

Chief Minister Punjab Sardar Usman Buzdar has said that PTI government holds its agenda to serve the masses and has focused its attention to provide basic facilities to the people of Pakistan. The journey of public service has set-in and government will n

Published 17 Feb, 2020 12:00am

Business & Economy

AGP detects Rs 218.37 million loss in KP Irrigation department

The Auditor General of Pakistan (AGP) has detected a loss amounting to Rs218.378 million in the accounts of the Irrigation Department of Khyber Pakhtunkhwa during financial year 2014-15, said AGP Annual Report 2016-17. The AGP has recommended investigatio

Published 17 Feb, 2020 12:00am

Rallies, sit-ins democratic right of leaders: Khattak

Defence Minister Pervez Khattak has said that staging protest sit-ins, rallies and criticising the government are the democratic right of all political leaders including Maulana Fazlur Rehman. Talking to media during his visit to his hometown Nowshera, he

Published 17 Feb, 2020 12:00am

Business & Economy

Minister opens several uplift projects

Provincial Industries and Trade Minister Mian Aslam Iqbal on Sunday visited his constituency and inaugurated various development projects. He also reviewed the pace of work of various ongoing development schemes. While inaugurating repair and construction

Published 17 Feb, 2020 12:00am

Questions outnumber answers for generations of refugees as Afghan peace deal nears

A short drive from the heavily secured five-star Islamabad hotel where international VIPs will discuss the future of Afghan refugees on Monday, 20-year old Ahmed Khan Younis lives in a makeshift settlement where the houses are made of mud.

Published 17 Feb, 2020 12:00am

Energy

Fesco drive against power theft continues

On the special directives of Ministry of Energy (Power Division) Chief Executive Officer (CEO) Faisalabad Electric Supply Company (FESCO) Shafiq ul Hassan is taking keen interest in combing operation against power theft in FESCO region. During the last 48

Published 17 Feb, 2020 12:00am

Money & Banking

Faysal Bank, NayaPay sign MoU

Faysal Bank has joined hands with NayaPay Pvt. Ltd. as one of its partner banks. The two organizations signed a Memorandum of Understanding (MoU) in Karachi.

Published 17 Feb, 2020 12:00am

Money & Banking

Incentives for expatriates on the cards to boost foreign remittances

The government has chalked out a comprehensive plan to boost flow of foreign remittance in the country by incentivizing the Pakistani expatriates, using legal channels to send money to their homes. The move was aimed at promoting legal means among Pakista

Published 17 Feb, 2020 12:00am

Countrywide anti-polio drive begins today

The year's first nationwide polio vaccination drive is scheduled to start from Monday to vaccinate 39.6 million children under the age of five years across the country. According to an official of National Emergency Operations Centre, during the campaign,

Published 17 Feb, 2020 12:00am

Pakistani volunteer joins anti-virus fight in Shanghai

Muhammad Mansoor Alam Khan, a 26-year-old from Pakistan, started distributing masks and manuals on the epidemic prevention to locals as a volunteer in Shanghai to control coronavirus outbreak.

Published 17 Feb, 2020 12:00am

Energy

Islamabad, Punjab: CNG stations start getting uninterrupted gas supply

The Compressed Natural Gas (CNG) stations, operating in Islamabad and Punjab, started getting uninterrupted supply from Sunday night after availability of sufficient gas in the system due to considerable decrease in the cold weather conditions. "All CNG

Published 17 Feb, 2020 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: Low trading observed

Low trading was observed in cotton market. Ginners were under pressure. No amount was allocated for the much discussed emergency program for increasing the production of cotton. No implementation from the concerned departments on the Prime Minister Imran

Published 17 Feb, 2020 12:00am

Business & Economy

FPCCI issues notice to immediate past president

Federation of Pakistan Chamber of Commerce and Industry (FPCCI) issued notice to its immediate past president, Engineer Daro Khan for surpassing the entitlement in expenses on travelling and hotelling during his stint in the office.

Published 17 Feb, 2020 12:00am

Surge in kidney stone patients attributed to contaminated water

Principal Postgraduate Medical Institute (PGMI) and Ameer-ud-Din Medical College Prof Dr Sardar Mohammad Al-Freed Zafar has claimed that nearly 80 million people in the country have kidney stones and the main reason behind this is usage of contaminated wa

Published 17 Feb, 2020 12:00am

PFA seals Lahore's 'spurious' soft drink factory

The Punjab Food Authority (PFA) has sealed a factory producing fake carbonated drinks of different popular brands and discarded 2,026 liters ready spurious drinks during a raid in Korol Pind here on Sunday.

Updated 17 Feb, 2020 12:33am

Faisalabad to be made clean & green under PM's vision: DC

Deputy Commissioner Muhammad Ali said that the Faisalabad City would be made clean & green by achieving the target of Clean & Green Pakistan Index under the vision of Prime Minister Imran Khan and concerned departments have been mobilised in this regard.

Updated 17 Feb, 2020 12:33am

Business & Economy

90,000 Pakistanis get overseas jobs in first 40 days of 2020: BEOE official

The Ministry of Overseas Pakistanis and Human Resource Development has facilitated some 90,000 Pakistanis, to secure jobs in multiple fields of international labour market during the first 40 days of 2020. "This is a good start for '2020' and it seems tha

Updated 17 Feb, 2020 12:33am

Minister opens Hyderabad's first farmers' market

Sindh Agriculture Minister Mohammed Ismail Rahu inaugurated first ever farmers' market at Expo Center, Hyderabad where stalls of vegetables, fruits, pulses, seeds and other edible items were set up to provide edible items to poor and middle class people d

Published 17 Feb, 2020 12:00am

Suspected woman held in MPA Shahnaz's muder case

Police officers on Sunday morning have arrested one woman allegedly involved in murder of Pakistan Peoples Party (PPP) Member of Sindh Assembly Shahnaz Ansari. According to details, the security personnel conducted raids all the night and nabbed one woman

Published 17 Feb, 2020 12:00am

Firdous pays tribute to Naeemul Haq

Special Assistant to Prime Minister (SAPM) for Information and Broadcasting, Dr Firdous Ashiq Awani on Sunday paid tributes to her senior colleague, Naeemul Haq, who passed away here on Saturday evening. He lived for others and always fought for the right

Published 17 Feb, 2020 12:00am

PTI announces three-day mourning on demise of Naeemul Haq

The ruling party Pakistan Tehreek-e-Insaf (PTI) on Sunday announced three-day mourning over the demise of Naeem-ul-Haq, a PTI founding member and one of the most trusted confidantes of Prime Minister Imran Khan. In this regard, the PTI announced to suspen

Published 17 Feb, 2020 12:00am

Brief Recordings

'OneLoad will become a financial brand in its own right' an interview with Muhammad Yar Hiraj, CEO OneLoad

Muhammad Yar Hiraj is the CEO of OneLoad. OneLoad is owned and operated by EP Systems, a subsidiary of System's Limited (PSX: SYS). Mr. Hiraj, who is also the founder of EP Systems, is a technology entrepreneur with experience in designing large-scale sof

Updated 17 Feb, 2020 04:12am

Merkel succession contender calls her out over slow EU revamp

A leading contender to succeed German Chancellor Angela Merkel on Sunday criticised her for taking too long to respond to a French push to strengthen the EU after Brexit. "I would like to apologise for the German government," Armin Laschet said, casting h

Published 17 Feb, 2020 12:00am

Pompeo pledges 'collective' approach to African troop presence

Secretary of State Mike Pompeo said Sunday that the United States favoured a "collective" approach with its allies when deciding on troop numbers deployed in Africa against jihadist insurgents. "We'll get it right, we'll get it right collectively, I'm con

Published 17 Feb, 2020 12:00am

Rocket attack hits near US embassy in Iraq capital

Multiple rockets hit an Iraqi base hosting American troops near the US embassy early Sunday, the latest in a flurry of attacks against US assets in the country. "The Coalition confirms small rockets impacted the Iraqi base hosting (coalition) troops in th

Published 17 Feb, 2020 12:00am

Iraq protesters rally for one of their own to become PM

Hundreds of Iraqis rallied Sunday to support a protest leader they want as prime minister instead of current premier-designate Mohammad Allawi, who they see as too close to the ruling class. Appointed on February 1, Allawi has pledged to announce his cabi

Published 17 Feb, 2020 12:00am

Russian artist, partner held over sex tape that sank Macron ally

French police held a Russian activist and his girlfriend for questioning on Sunday over a sex tape released online that brought down President Emmanuel Macron's favoured candidate for Paris mayor. Pyotr Pavlensky has said he leaked the video that forced t

Published 17 Feb, 2020 12:00am

Trump to test racing skills

President Donald Trump will test his racing skills in the political swing state of Florida on Sunday with a lap in his presidential limousine "the Beast" at the Daytona 500, NASCAR's most prestigious race.

Published 17 Feb, 2020 12:00am

Yemen rivals reach deal on large-scale prisoner swap

Rival parties in the Yemen conflict have reached an agreement on the first large-scale prisoner exchange since the start of the five-year conflict, the UN said Sunday. The announcement came after a seven-day meeting in the Jordanian capital Amman.

Published 17 Feb, 2020 12:00am

Ongoing Libya violence 'deeply troubling': UN

The situation in wartorn Libya is "deeply troubling", a United Nations representative said Sunday, warning that a fragile truce was hanging "by a thread" as daily life in the North African country worsens. Speaking after talks with foreign ministers in th

Published 17 Feb, 2020 12:00am

Questions over fate of Saudi crew in Yemen jet crash

The fate of the crew of a Saudi warplane that crashed in Yemen remained uncertain Sunday after Iran-linked Huthi rebels claimed to have shot down the aircraft. The Riyadh-led military coalition fighting the rebels said the two officers ejected from the pl

Published 17 Feb, 2020 12:00am

Don't label all Uighurs terrorists, Turkey tells China

Turkey's foreign minister on Sunday said China should not label all Muslim ethnic Uighurs as terrorists, following talks with his Chinese counterpart in Germany. UN experts believe China is holding a million Muslims in camps in the western Xinjiang region

Published 17 Feb, 2020 12:00am

South Sudan rebels reject president's peace compromise

South Sudan rebels rejected on Sunday a government peace offer to return to a system of 10 states, dashing hopes of ending a six-year war that has left 380,000 dead. President Salva Kiir had said he would compromise by cutting the current 32 regional stat

Published 17 Feb, 2020 12:00am

Knife attacker injures two in Moscow church

An attacker injured two people in a Moscow Orthodox church with a knife on Sunday before being arrested, police said, adding they were not treating the incident as terrorism. The man came running into the altar area of the church in central Moscow and sta

Published 17 Feb, 2020 12:00am

Turkey tells Russia: Syria regime attacks on Idlib must stop

Turkey's foreign minister said on Sunday he has told his Russian counterpart that the Damascus regime's attacks on the last rebel-held bastion in Syria must stop. Backed by Russian air power, Syrian President Bashar al-Assad has been intensifying his assa

Published 17 Feb, 2020 12:00am

Syrian government forces consolidate grip around Aleppo

Syrian regime forces made new gains Sunday in their offensive against the last major rebel bastion in the northwest, seizing villages and towns around second city Aleppo, state media and a monitor said. Backed by Russian air strikes, government forces hav

Published 17 Feb, 2020 12:00am

Stocks

Foreigners turn net buyers of Japanese stocks

Foreign investors turned net buyers of Japanese equities last week as local shares tracked the rally in US stocks, shrugging off fears related to the coronavirus outbreak in China. They purchased a net 791.7 billion yen ($7.21 billion) of Japanese stocks,

Published 17 Feb, 2020 12:00am

Stocks

Sovereign investors pulled back from equities in fourth quarter

Sovereign wealth fund investment in equities via external asset managers fell in the final quarter of last year, data from research firm eVestment showed on Thursday. A total of $4.85 billion was pulled from global equity strategies overseen by third-part

Published 17 Feb, 2020 12:00am

Stocks

Qatar leads most of Gulf markets lower, blue chips hurt Egypt

Most major Gulf bourses closed lower on Sunday with Qatar leading the losses, dragged down by heavyweight Industries Qatar, while Egypt retreated on a sell-off of blue chips. The Qatari index dropped 1%, extending losses for a sixth straight session, as m

Published 17 Feb, 2020 12:00am

Money & Banking

Nigeria offers longer-term naira contracts to lure investors, shore up FX reserves

Nigeria's central bank has introduced longer-term contracts on the naira in a move to attract more foreign inflows, shore up its dwindling dollar reserves and stave off a currency devaluation, traders said on Thursday.

Published 17 Feb, 2020 12:00am

Stocks

Crypto asset manager sees bitcoin mining shift from China to North America

The world's biggest cryptocurrency asset manager said on Tuesday it was seeing efforts to shift bitcoin production to North America from China, which dominates digital coin mining. Barry Silbert, founder of New York-based Grayscale Investments, made the o

Published 17 Feb, 2020 12:00am

Money & Banking

Analysts downgrade Aussie and kiwi near-term, upbeat on long term

Analysts have downgraded forecasts for the Australian and New Zealand dollars in the short term as natural disasters and the coronavirus drag on domestic growth, but they remain surprisingly upbeat on a one-year horizon. Analysts polled by Reuters see the

Published 17 Feb, 2020 12:00am

Stocks

Canada's Ontario province prices C$500 million green bond

Ontario, one of the world's largest sub-sovereign debtors, priced on Wednesday a C$500 million ($377 million) 7-year green bond, the finance ministry said, with strong demand helping the province to borrow at a better rate than for its regular bonds.

Published 17 Feb, 2020 12:00am

Stocks

Argentine bonds could take another beating if restructuring talks drag on

Argentina's bloodied bond market could take another beating if debt renegotiations take longer than expected, analysts said on Friday, as investors digested a week full of bearish news and the economy minister's blunt comments about creditors.

Published 17 Feb, 2020 12:00am

Money & Banking

Sterling to gain on hopes for UK-EU trade deal by year-end

Sterling will be nearly 4% stronger in a year than it is now, according to a Reuters poll of market strategists, based on expectations that Britain will secure a trade deal with the European Union this year despite its tough initial stance. On Monday ster

Published 17 Feb, 2020 12:00am

Stocks

Algeria plans to develop bond, stock markets

Algeria plans to issue sukuk, or Islamic bonds, and develop its small stock exchange as the oil reliant economy seeks to diversify funding sources, according to a government document reviewed by Reuters.

Published 17 Feb, 2020 12:00am

Money & Banking

Brazil's real rebounds from record low

Brazil's real rose on Friday and recorded its first weekly gain in seven, supported by the central bank's move to stem a selloff in the currency, while other Latin American assets came under pressure from concerns around the coronavirus epidemic.

Published 17 Feb, 2020 12:00am

Stocks

Wall Street week ahead: investors bet emerging markets will weather coronavirus impact

Investors are edging back into emerging markets, even though worries about the coronavirus' impact on global economic growth have clouded prospects for the boom-and-bust asset class.

Published 17 Feb, 2020 12:00am

Telecommunication

Thailand raises $3.2 billion at 5G license auctions

Thailand's telecoms regulator raised 100.52 billion baht ($3.2 billion) in 5G spectrum auctions on Sunday, with operators snapping up 48 licenses ahead of an expected commercial rollout later this year. Thailand's top mobile operator, Advanced Info Servic

Published 17 Feb, 2020 12:00am

Commodities

Bangladesh crab farmers feel pinch as coronavirus halts exports

Thousands of tons of Bangladesh crabs earmarked for Chinese dining tables are being left to rot because the coronavirus has halted exports. The Bangladesh crab industry - which involves some 500,000 mostly poor farmers - is facing its worst-ever crisis as

Published 17 Feb, 2020 12:00am

Global Business Economy

Syria government targets property, cars to curb cash buys

The government in war-devastated Syria decided Sunday that all property and car sales must be conducted through banks, in an apparent bid to revive the banking sector and fight tax evasion. Under the directive, which came into immediate effect, buyers and

Published 17 Feb, 2020 12:00am

Global Business Economy

US weighs blocking GE engine sales for China's new airplane

The US government is considering whether to stop General Electric Co from continuing to supply engines for a new Chinese passenger jet, according to people familiar with the matter, casting uncertainty over China's efforts to enter the civil aviation mark

Published 17 Feb, 2020 12:00am

Global Business Economy

Amazon, Flipkart seek rollback of new Indian tax on online sellers

Amazon and Walmart's Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents seen by Reuters.

Published 17 Feb, 2020 12:00am

Energy

Kuwait, Saudi Arabia start trial oil pumping from divided zone

Kuwait and Saudi Arabia will start trial oil production from the jointly-operated Wafra and Khafji oilfields on Sunday, Kuwait's oil minister said. Khaled al-Fadhel said that trial production from the two fields in the Neutral Zone will increase gradually

Published 17 Feb, 2020 12:00am

Global Business Economy

China's Evergrande to offer discount for all properties on sale in February, March

China Evergrande Group, the third-largest developer by sales in the country, said on Sunday that it will offer 25% discount for all properties on sales from Feb 18 to Feb 29. The incentives come as property firms fear that the coronavirus outbreak would h

Published 17 Feb, 2020 12:00am

IT & Computers

Treat us like something between a telco and a newspaper, says Facebook's Zuckerberg

Online content should be regulated with a system somewhere between the existing rules used for the telecoms and media industries, Facebook CEO Mark Zuckerberg told global leaders and security chiefs on Saturday.

Published 17 Feb, 2020 12:00am

Global Business Economy

UK government has not talked to China about building HS2 rail project: minister

The British government has not talked to China about helping build High Speed 2, the major rail project given the green light last week despite being billions of pounds over budget, Transport Secretary Grant Shapps said on Sunday.

Published 17 Feb, 2020 12:00am

Global Business Economy

Carrefour to buy 30 stores in Brazil from rival Makro

The Brazilian unit of France's Carrefour SA has agreed to buy 30 stores from rival retailer Makro's Brazilian subsidiary for 1.95 billion reais ($453.69 million), the French retailer said in a securities filing on Sunday.

Published 17 Feb, 2020 12:00am

France warns of bloody Brexit talks battle

France on Sunday warned Britain to expect a bitter, bloody battle in Brexit trade talks with the EU, saying the two sides would "rip each other apart". Negotiations for a deal on future EU-UK relations are not due to start until next month, but London and

Published 17 Feb, 2020 12:00am

Global Business Economy

Vivendi plans IPO of Universal by early 2023

French media conglomerate Vivendi SA said on Thursday it planned to list its most-prized asset, Universal Music Group, by early 2023 at the latest, following a year of record profit for the division. This represents a new milestone in a two-year process l

Published 17 Feb, 2020 12:00am

Money & Banking

Restructuring and job cuts hit profits at Commerzbank

Germany's second-largest lender Commerzbank on Thursday reported sliding profits for 2019, as costs for job cuts linked to its restructuring weighed on the bottom line. Net profits dropped over 25 percent to 644 million euros ($701 million), the Frankfurt

Published 17 Feb, 2020 12:00am

Global Business Economy

Gucci owner Kering halts spending in China on virus fears

Gucci-owner Kering has temporarily shut half of its stores in China, and shelved new openings and advertising campaigns there, as the coronavirus outbreak throws luxury brands into turmoil. The French group, which also owns Saint Laurent and Balenciaga, r

Published 17 Feb, 2020 12:00am

Global Business Economy

Delta to invest $1 billion to curb global air travel's climate impact

Delta Air Lines Inc said on Friday it will invest $1 billion over the next decade in initiatives that would limit the impact of global air travel on the environment, the first airline to make a commitment of that scale. The aviation industry accounts for

Published 17 Feb, 2020 12:00am

Global Business Economy

Nestle boss Schneider eyes more deals to bolster growth ambitions

Nestle Chief Executive Mark Schneider will fine-tune his transformation plans with more acquisitions, he said after the Swiss food group lowered growth expectations on Thursday. The company had earlier said it will take longer than expected to hit its 202

Published 17 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 14	277.83
USD PKR Interbank Buying / Nov 14	277.63
USD to Japanese Yen / Nov 14	155.86
USD to Swiss Franc / Nov 14	0.89
Pound Sterling to USD / Nov 14	1.27
Euro to USD / Nov 14	1.06

Stock	Volume
S&P 500 / Nov 13	5,985.38
Nasdaq / Nov 13	19,230.72
Dow Jones / Nov 13	43,958.19
India Sensex / Nov 14	77,517.41
Tokyo Nikkei / Nov 14	38,680.99
Hang Seng / Nov 14	19,503.42
FTSE 100 / Nov 14	8,042.72
Germany DAX 30 / Nov 14	19,122.26

Item	Value
Gold 10 Grams PKR / Nov 12	231,911
Karachi Cotton PKR/37.32 KG / Nov 13	18,085
Petrol/Litre / Nov 14	248.38
Crude Oil USD/Barrel / Nov 14	67.97
Gold Spot USD/Ounce / Nov 14	2,558.37
Diesel/Litre / Nov 14	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▼ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▼ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▼ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▲ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▲ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▲ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 14 Worldcall Telecom Limited(WTL)	43,291,848 ▲ 0.00
Waves Home Appliances / Nov 14 Waves Home Appliances Limited(WAVESAPP)	33,201,636 ▲ 0.00
Pak Refinery / Nov 14 Pakistan Refinery Limited(PRL)	31,524,926 ▲ 0.00
K-Electric Ltd. / Nov 14 K-Electric Limited(KEL)	27,455,465 ▲ 0.00
Pak Elektron / Nov 14 Pak Elektron Limited(PAEL)	26,996,630 ▲ 0.00
Sui South Gas / Nov 14 Sui Southern Gas Company Limited(SSGC)	26,013,918 ▲ 0.00
The Searle Co. / Nov 14 The Searle Company Limited(SEARL)	25,704,933 ▲ 0.00
Pak Int.Bulk / Nov 14 Pakistan International Bulk Terminal(PIBTL)	23,694,836 ▲ 0.00
Secure Logistics / Nov 14 Secure Logistics Group Limited(SLGL)	23,623,241 ▲ 0.00

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