News Archives for Print - 2020-02-19

Print - 2020-02-19

January exports down 0.75 percent MoM

Pakistan's exports during January 2020 against December 2019 have witnessed a reduction of 0.75 percent, ie, from $1.993 billion to $1.978 billion, Pakistan Bureau of Statistics (PBS) said. According to the exports and imports figures released here on Tue

Published 19 Feb, 2020 12:00am

Rival contests results: Ghani secures second term as Afghan president

Ashraf Ghani secured a second term as president of Afghanistan on Tuesday, but his bitter rival Abdullah Abdullah immediately challenged final election figures and said he was forming his own government. The results of the September 28, 2019 poll were rel

Published 19 Feb, 2020 12:00am

MoC proposes amendment to import policy order 2016

Commerce Ministry has proposed amendment in Import Policy Order, 2016 to allow commercial importers to import acetone, anthranilic acid, ethyl ether, hydrochloric acid and sulphuric acid on the recommendations of Ministry of Narcotics Control, sources clo

Published 19 Feb, 2020 12:00am

Pakistan safer than ever before: UN chief

Acknowledging that Pakistan is now safer than ever before, United Nations Organization (UNO) Secretary General Antonio Guterres Tuesday said that fatal disease of polio can effectively be fought out through joint and concerted efforts.

Published 19 Feb, 2020 12:00am

Dawood discusses ways to reduce sugar price with PSMA

Prime Minister Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood Tuesday held a meeting with Pakistan Sugar Mills Association (PSMA) and discussed ways to reduce price of sugar, well-informed sources told Business Record

Published 19 Feb, 2020 12:00am

PM to launch Rs15bn Ehsaas Amdan plan on Friday

Prime Minister Imran Khan will launch Ehsaas asset (Amdan) programme of Rs15 billion on Friday (February 21), which will benefit 1.4 million people in 375 rural councils of the 23 poorest districts of the four provinces of the country.
Published 19 Feb, 2020 12:00am

Inflation & trust deficit: PM asks MoF to suggest measures

Prime Minister Imran Khan has directed Ministry of Finance to submit a modular proposal on bringing down inflation and generating activity including factors like demand and supply side measures for food groups and creating an environment of trust to boost
Published 19 Feb, 2020 12:00am

PM for operation to stop smuggling of essential items

Prime Minister Imran Khan has directed the Ministry of Interior, the federal and the provincial law enforcement agencies, the Federal Board of Revenue (FBR), and the provincial governments, to launch a joint operation to stop smuggling of essential commod
Published 19 Feb, 2020 12:00am

Stocks
PSX extends losses: BRIndex100 inert

Pakistan Stock Exchange Tuesday witnessed a mixed trend but settled on a negative note due to selling in various sectors at the fag end. BRIndex100 lost 5.3 points or 0.13 percent to close at 4,201.52 points. BRIndex100 touched intraday high of 4,245.99 a
Published 19 Feb, 2020 12:00am

HSBC to slash investment bank, 35,000 jobs in strategy overhaul

HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years. The bank, which has struggled to keep pac
Published 19 Feb, 2020 12:00am

PSM revival plan gains momentum

Investors from Turkey, Russia and China have expressed their interest to revive Pakistan Steel Mills (PSM) on Repair, Operate and Transfer (ROT) basis.
Published 19 Feb, 2020 12:00am

Composite audit of registered taxpayers on the cards

The government is planning to introduce a new legal framework in Finance Bill, 2020, to control practice of multiple income tax and sales tax audits in a year by introducing the concept of composite audit of registered taxpayers from the next fiscal year.
Published 19 Feb, 2020 12:00am

14 dead in apparent toxic gas leak

An apparent gas leak killed at least 14 people near the Karachi port, officials said Tuesday, as investigators worked to determine the source of the deadly emission.
Published 19 Feb, 2020 12:00am

US, Taliban on verge of withdrawal deal

The US and the Taliban, at war since 2001, are on the verge of agreeing a landmark withdrawal deal to be signed in Qatar, an insurgent source told AFP Tuesday. An Afghan official suggested the deal could be inked on February 29 in Doha, depending on the s
Published 19 Feb, 2020 12:00am

Flight test of 'Ra'ad-II' conducted successfully

Pakistan on Tuesday conducted successful flight test of air-launched cruise missile "Ra'ad-II" with a range of 600 kilometres. According to the Inter-Services Public Relations (ISPR), the successful test of the cruise missile has further expanded country'
Published 19 Feb, 2020 12:00am

Reduction in industrial power tariff on the cards

The government is likely to reduce industrial tariff by Rs 1.68 per unit, in addition to Rs 2 per unit on use of electricity over and above its last year's consumption pattern, well informed sources told Business Recorder. This proposal was discuss
Published 19 Feb, 2020 12:00am

Roadshow held: M-6 offered for foreign investment

The government Tuesday offered "Sukkur-Hyderabad Motorway (M-6), a critical component of the China-Pakistan Economic Corridor (CPEC), for foreign investment in a roadshow, which would be completed with an estimated cost of over Rs204 billion.
Published 19 Feb, 2020 12:00am

Deadline for filing returns extended

The Federal Board of Revenue (FBR) has extended date for filing of sales tax and federal excise return for the tax period of January 2020 upto February 26, 2020. In this regard, the FBR has issued instructions to the Chief Commissioners of Inland Revenue
Published 19 Feb, 2020 12:00am

'Kartarpur portrays true picture of interfaith harmony'

United Nations Secretary General Antonio Guterres on Tuesday appreciated Pakistan for its efforts and effective measures to restore peace and promote interfaith harmony in the region. He acknowledged this fact during his visit to Darbar Sahib Kartarpur, r
Published 19 Feb, 2020 12:00am

Securities Brokers (Licensing and Operations) Regulations, 2016: PSA, SECP agree to implement new broker regime

After detailed deliberations on feedback, PSX Stockbrokers Association (PSA) and Securities and Exchange Commission of Pakistan (SECP) agreed in relation to implementation of the new broker regime through some amendments in the Securities Brokers (Licensi
Published 19 Feb, 2020 12:00am

SSIC submits compliance report in SHC

Various properties of Sindh Small Industries Corporation (SSIC), including vocational training centers, have been leased out to individuals and the lease periods vary 30 to 99 years.
Published 19 Feb, 2020 12:00am

Two fertilizer plants: Domestic industry opposing RLNG supply at cheap rates

The domestic fertilizer industry is said to be opposing supply of RLNG to two fertilizer plants at cheap rates, arguing that any such decision on the part of the government will inflict a financial loss of Rs 45 billion on the national exchequer.
Published 19 Feb, 2020 12:00am

AGP accuses judge of violating income tax law

Attorney General of Pakistan (AGP) Anwar Mansoor Khan urged the apex court to allow the Supreme Judicial Council (SJC) to determine whether the properties belonged to or were financed by Justice Qazi Faez Isa, and whether it came under the definition of m
Published 19 Feb, 2020 12:00am

Letters
'IMF second review'

This is apropos a Business Recorder op-ed "IMF second review" carried by the newspaper yesterday. The author, Dr Hafiz A Pasha, has deeply analysed the press release issued by the IMF mission at the end of global lending agency's staff review of th
Published 19 Feb, 2020 12:00am

Articles
Machine lubricants leave bad taste for palm oil producers, buyers

The palm oil industry, long-accused of large scale deforestation, is bracing for another hit to its business: machinery lubricants seeping into the world's most consumed edible oil during processing. European food companies, including Nestle, have in rece
Published 19 Feb, 2020 12:00am

Articles
Security perceptions and development: Attaining the right balance - II

Often, insecure, authoritarian regimes play up the negative news and graphically broadcast them. Curbs on alternative views tend to accentuate this phenomenon of panic and general uncertainty. In many wars, personalities of actors who committed genocide a
Published 19 Feb, 2020 12:00am

Articles
Trading in the age of automation

As Pakistan tries to regain its foothold in the world export market, the global export scenario is undergoing a drastic disruption. Suddenly it is not cheap labour that the manufacturers are looking for but smart labour, well-versed in new tech skills, au
Published 19 Feb, 2020 12:00am

HR violations in IHK

UN Secretary General Antonio Guterres has said that "one of the main purposes of my visit is to spotlight the real Pakistan with all its possibilities and potential." He admired Pakistan's decades-old hospitality for Afghan refugees, its contribution to U
Updated 19 Feb, 2020 06:16am

Job growth

The World Bank in its recent report titled "Jobs Diagnostic Pakistan" has used empirical data, in contrast to the overly-optimistic scenario presented by the Prime Minister and all of his cabinet colleagues to conclude that growth in productivity has been
Updated 19 Feb, 2020 06:17am

Fake degree: IHC disposes of PML-N MPA's ICA

The Islamabad High Court (IHC) on Tuesday disposed of intra-court appeal (ICA) of MPA Chaudhry Kashif Mehmood belonging to the Pakistan Muslim League-Nawaz (PML-N), challenging his disqualification for possessing a fake degree.
Published 19 Feb, 2020 12:00am

UN chief's stance on Kashmir jettisons India's narrative: FM

Foreign Minister Shah Mahmood Qureshi Tuesday said that UN chief Antonio Guterres's latest statements on Kashmir had rebuffed India's narrative on Kashmir being its "internal matter".
Published 19 Feb, 2020 12:00am

FATF, Kashmir issues: NA speaker seeks support of Netherlands

National Assembly Speaker Asad Qaiser has sought support of the Netherlands on the issue of Financial Action Task Force (FATF) and the resolution of Kashmir issue in accordance with the aspirations of the people of Kashmir and the UN Security Council reso
Published 19 Feb, 2020 12:00am

Sugarcane subsidy to growers: AC extends judicial remand of accused till March 3

The Accountability Court hearing multi-billion-rupee fake bank accounts cases, on Tuesday, extended the judicial remand of the accused in the corruption reference pertaining to misappropriation of subsidy given to sugarcane growers till March 3rd.
Published 19 Feb, 2020 12:00am

Guterres calls for humane treatment of Kashmiris

United Nations (UN) Secretary General Antonio Guterres said on Tuesday that the people of Kashmir have every right to humane treatment and protection of their political rights and fundamental freedoms.
Published 19 Feb, 2020 12:00am

Nation to get rid of polio with mutual efforts: Buzdar

On the second day of the anti-polio campaign in Punjab, a special ceremony was held here on Tuesday with Punjab Chief Minister Sardar Usman Buzdar as the chief guest who administered the anti-polio vaccine to the children.
Published 19 Feb, 2020 12:00am

GCU confers PhD degree on British MP Afzal Khan

The Government College University Lahore on Monday conferred the honorary doctorate of philosophy (PhD) degree upon the British Member of Parliament (MP) Afzal Khan in recognition of his remarkable contribution for the promotion of political, diplomatic,
Published 19 Feb, 2020 12:00am

China to help Pakistan in combating locust: envoy

Ambassador of China Yao Jing on Tuesday assured to consider supply of pesticides and spraying equipment to Pakistan as an emergency project to combat the locust attack. The Ambassador called on Federal Minister for National Food Security and Research Makh
Published 19 Feb, 2020 12:00am

Cop killed, two injured in blast

A police officer was killed and two injured during a blast near a police van in Dera Ismail Khan's Kulachi on Tuesday morning. The police van was out on routine patrol when the blast occurred, according to the police. "The mobile was targeted by remote-co
Published 19 Feb, 2020 12:00am

Kashmir issue: UNSG's remarks strengthens Pakistan's stance: Awan

Prime Minister's Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan on Tuesday said that the United Nations Secretary General, Antonio Guterres's, remarks about Kashmir had strengthened Pakistan's stance on the issue.
Published 19 Feb, 2020 12:00am

Business & Economy
SCCI chief vows to promote women entrepreneurship

President Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Ashraf Malik pledged to continue efforts for the betterment of business community without discrimination while special focus would be accorded on the promotion of women entrepreneurship in
Published 19 Feb, 2020 12:00am

Telecommunication
Ufone celebrates 19 years of its success

Ufone celebrated 19 years of successful operations in Pakistan with the entire UFamily at Ufone Tower, Islamabad and other offices across the country. During the anniversary celebrations, employees and management vowed to serve their customers with comple
Published 19 Feb, 2020 12:00am

Poultry farm industry providing employment to 1.5 million people: minister

Punjab Minister for Livestock and Dairy Development Sardar Hasnain Bahadur Dreshak has said that the poultry industry is providing employment/business opportunities to 1.5 million people and this is a major source of provision of food and nutrition to the
Published 19 Feb, 2020 12:00am

Documentation of immovable properties: IIPS holds exercise for mapping & digitization of urban lands

Iqbal Institute of Policy Studies (IIPS) on Tuesday started an exercise for mapping & digitization of urban lands on national basis for documentation of immovable properties records to facilitate federal/provincial authorities and regulatory bodies, inclu
Published 19 Feb, 2020 12:00am

Taxes
Comments on Indian Direct Tax Amendments Vide Union Budget 2020-21: Pakistani Parity

• PROLOGUE
Updated 19 Feb, 2020 10:50am

Business & Economy
British Deputy HC visits SCCI

British Deputy High Commissioner Karachi Mike Nithavrianakis on Tuesday visited Sialkot to discuss certain issues pertaining to trade and commerce and matters of mutual interests with President Sialkot Chamber of Commerce and Industry (SCCI). Addressing t
Published 19 Feb, 2020 12:00am

Business & Economy
Setting up of new industrial zone urged

Chairman Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry has demanded the establishment of a new industrial zone at Mulla Katiar, the border town of Hyderabad and Tando Muhammad Khan districts aimed to promote industrial activities
Published 19 Feb, 2020 12:00am

Chaudhry Sugar Mills case: LHC grants post-arrest bail to Nawaz's nephew

The Lahore High Court on Tuesday granted post-arrest bail to Yousuf Abbas, nephew of the former Prime Minister Nawaz Sharif, in Chaudhry Sugar Mills and money laundering case. Earlier, the counsel of the accused contended that the NAB had accused his clie
Published 19 Feb, 2020 12:00am

LHC strikes down 8 percent hike in private schools fee

The Lahore High Court on Tuesday struck down eight per cent increase in fee by private schools from January 2019 and allowed only five per cent annul increase in July 2017, 2018 and 2019. The court partly declared District Regulatory Authority (DRA) order
Published 19 Feb, 2020 12:00am

Energy
KE removes TV/internet cables from power infrastructure

K-Electric (KE) has successfully removed more than 800 meters of unauthorized cable TV and internet wires from its electricity poles in various parts of Gulshan-e-Iqbal. This is part of KE's ongoing campaign to rid the city's power infrastructure of encro
Published 19 Feb, 2020 12:00am

'Kite flying trips NTDC's transmission network'

The spokesman of National Transmission and Despatch Company Limited (NTDC) has said that as many as 23 incidents of tripping at 500 kV and 220 kV transmission lines have been reported due to kite flying in Lahore and Faisalabad during last 6 months.
Published 19 Feb, 2020 12:00am

Citizens in Wuhan: LHC seeks replies from government, ministry

The Lahore High Court on Tuesday sought replies from the federal government and the ministry of foreign affairs on a petition for bringing all Pakistani citizens back from coronavirus-hit cities of China. Petitioner father of a student stranded in China s
Published 19 Feb, 2020 12:00am

Money & Banking
BankIslami bags three accolades at 9th CSR Summit and Awards 2020

BankIslami, one of the chief technologically advanced banks of Pakistan with more than 330 branches in over 114 cities, won three prestigious awards at the 9th CSR Summit & Award 2020 ceremony held recently. The three categories included Green/Environment
Updated 19 Feb, 2020 12:10pm

Seminar on 'BRB Earthquake Protection System' held

Pakistan LSF Construction Association has organized a seminar on BRB Earthquake Protection System at Usman Institute of Technology Karachi here on Monday night. The seminar was attended by members from industry and academia.
Published 19 Feb, 2020 12:00am

NA body discusses 'The Electronic Transaction (Amendment) Bill'

A sub-committee on National Assembly's Standing Committee on Information Technology and Telecommunication discussed on Tuesday a private bill, "The Electronic Transaction (Amendment) Bill, 2019". On January 22, 2020, the National Assembly Standing Committ
Published 19 Feb, 2020 12:00am

ECP decides to prioritise Third Strategic Plan

With new management in place, the Election Commission of Pakistan (ECP) has decided to prioritise the objectives envisioned in the ECP's 3rd Strategic Plan that was launched in November last year but could not be pursued as the commission was left dysfunc
Published 19 Feb, 2020 12:00am

Articles
Partly Facetious: A sign of strength or weakness?

"I am confused - is it a sign of strength or weakness?"
Published 19 Feb, 2020 12:00am

Cotton & Textile
Export of leather garments rises by 12 percent

Pakistan's export of leather garments posted an increase of 12 percent to $150.551 million during July-Dec 2019-20, official figures indicate. Rise in leather garments export comes to the tune of $16.015 million in July-Dec 2019-20 from $134.536 million i
Published 19 Feb, 2020 12:00am

Energy
Byco earns Rs 2.4 billion gross profit in 1HFY20

Byco Petroleum Pakistan Ltd (BPPL) announced its financial results for the half year ending 31 December 2019. In this period, the company's gross sales were recorded at Rs 125.6 billion from Rs123.4 billion in the corresponding period of 2018. The company
Published 19 Feb, 2020 12:00am

Business & Economy
KCCI chief voices concern over mysterious deaths in Keamari

President Karachi Chambers of Commerce and Industry (KCCI), Agha Shahab Ahmed Khan has demanded that a Rapid Response Force must be established to deal with such calamities in the city as it is not the first time when people lost their lives.
Published 19 Feb, 2020 12:00am

Energy
SSGC severs 1,400 illegal connections

The Sui Southern Gas Company's SS & CGTO Department has been pulling out all the stops to identify and bring gas thieves to justice. For this purpose, the team carried out a joint industrial survey in Hyderabad Zone.
Published 19 Feb, 2020 12:00am

Cricket
Traffic, parking plan for PSL issued

The Karachi administration and the traffic police on Tuesday issued the traffic plan for the Pakistan Super League (PSL) 2020 matches scheduled to begin from February 20, 22, 23 and March 12 to 17. The spectators intending to enter the National Stadium
Published 19 Feb, 2020 12:00am

Rashid-CM to discuss KCR's revival today

Federal Minister for Railways Sheikh Rashid Ahmed will meet with Sindh Chief Minister Syed Murad Ali Shah today to discuss issues pertaining to revival of much delayed Karachi Circular Railways (KCR) at CM's House, railways officials said.
Published 19 Feb, 2020 12:00am

February 28 to March 1: KLF all set to celebrate its 11th edition

The much-awaited Karachi Literature Festival (KLF), organized by Oxford University Press, is all set to celebrate its 11th edition this year from February 28 to March 1, 2020.
Published 19 Feb, 2020 12:00am

Energy
PSO earns Rs 6.4 billion profit after tax in FY2019-20

Pakistan State Oil (PSO), the leading oil marketing company of the country, convened its Board of Management (BoM) meeting at the PSO House in Karachi on Tuesday to review the performance of the company during first half of the financial year 2019-20.
Published 19 Feb, 2020 12:00am

Toxic gas tragedy: 'Overexposure to soybean dust' may have caused casualties: ICCBS

Panic continues to haunt the surrounding areas of the port as mystery over toxic gas spread stays unresolved. The incident has so far claimed 10 lives and suspended all customs operations. Findings of International Center for Chemical and Biological Scien
Published 19 Feb, 2020 12:00am

Taxes
Cleared from Torkham: Data of over 304 trucks verified, reconciled

A fact-finding committee of the Federal Board of Revenue (FBR) has so far reconciled and verified data of more than 304 trucks cleared from Torkham out of total 355 vehicles.
Published 19 Feb, 2020 12:00am

Energy
PSDP 2020-21: Wapda seeks Rs 316.6 billion for 33 water & hydropower projects

Water and Power Development Authority (Wapda) has demanded allocation of Rs 316.6 billion for 33 water and hydropower projects under Public Sector Development Programme (PSDP) 2020-21.
Published 19 Feb, 2020 12:00am

Brief Recordings
Pakistan Petroleum Limited

Being one of the industry giants, Pakistan Petroleum Limited (PSX: PPL) is a key supplier of natural gas in the country. The company is engaged in conducting exploration, prospecting, development and production of oil and natural gas resources with its pr
Updated 19 Feb, 2020 05:40am

IT & Computers
Facebook blocks Singapore anti-government page

Facebook on Tuesday blocked the page of an anti-government website in Singapore following a demand from authorities but slammed the "disproportionate" use of a controversial law against online misinformation. The widely criticised legislation gives minist
Published 19 Feb, 2020 12:00am

Iran environmentalists jailed up to 10 years for spying

An Iranian appeals court has upheld jail sentences of up to 10 years against eight environmentalists convicted of spying, conspiring with Washington and damaging national security, the judiciary said Tuesday.
Published 19 Feb, 2020 12:00am

White House dinner gets the joke again

The White House Correspondents Association said Tuesday it will bring comedy back to this year's annual dinner, a once light-hearted staple of the Washington calendar that has become deeply politicized under US President Donald Trump.
Published 19 Feb, 2020 12:00am

Israel eases Gaza restrictions over 'relative calm'

Israel on Tuesday cancelled punitive measures it had imposed against the besieged Gaza Strip after a weekend wave of attacks with rockets and incendiary balloons by militants in the Palestinian enclave. "In view of the relative calm around Gaza in recent
Published 19 Feb, 2020 12:00am

UK government adviser quits over race comments

An adviser in British Prime Minister Boris Johnson's office resigned on Monday after online comments resurfaced where he linked intellect to race and seemed to advocate a eugenics policy. Andrew Sabisky once suggested that black Americans had a lower aver
Published 19 Feb, 2020 12:00am

Global Business Economy
Coronavirus outbreak adds other pressures on growth in Asia Pacific: Moody's

Moody's Investors Service says in a new report that the COVID-19 (coronavirus) outbreak adds to other pressures on growth in Asia Pacific, with the impact felt primarily through trade and tourism, and for some sectors also through supply-chain disruptions
Published 19 Feb, 2020 12:00am

Syria presses assault amid fears over mass displacement

Syrian troops pressed an offensive Tuesday on the country's last major rebel enclave where the mass displacement of civilians is sparking fears of a humanitarian catastrophe.
Published 19 Feb, 2020 12:00am

Thousands protest in Greece against pension overhaul

Thousands protested in Greece on Tuesday against a new pension reform as a 24-hour strike paralysed transport and services. Some 10,000 people demonstrated in the capital against the reform, which encourages a longer stay in the workforce, police said.
Published 19 Feb, 2020 12:00am

Global Business Economy
China to waive tariffs on US medical imports

China will waive trade-war tariffs on imports of selected US medical equipment from March 2, the government said Tuesday, as the country battles to contain the new coronavirus epidemic. The move comes as doctors and nurses treating virus patients in China
Published 19 Feb, 2020 12:00am

Hospital director at China virus epicentre dies

A hospital director at the epicentre of China's virus epidemic died Tuesday, state media said, the latest medical worker to fall victim to the new coronavirus spreading across the country.
Published 19 Feb, 2020 12:00am

WHO urges calm as China virus death toll nears 1,900

The death toll from the new coronavirus outbreak rose again on Tuesday but Chinese and international health officials sought to calm global nerves, citing a study showing most cases are mild and warning against excessive measures to contain the epidemic.
Published 19 Feb, 2020 12:00am

Business & Economy
Need for expeditious utilisation of uplift projects stressed

The ministries/divisions are expediting utilisation of funds released for development projects under the Public-Sector Development Programme (PSDP) 2019-2020 after a recent grilling by Prime Minister Imran Khan, it has been learnt.
Published 19 Feb, 2020 12:00am

Commodities
Rains in Ivory Coast cocoa regions bring patchy relief

Ample rainfall last week in some of Ivory Coast's cocoa-growing regions brought welcome relief following a dry spell that had threatened to deplete the upcoming mid-crop harvest, farmers said on Monday. But hot, arid conditions persisted elsewhere, deepen
Published 19 Feb, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,212. The traded value of Metals, Energy and COTS/FX was recorded at PKR 1.691 billion and the number of lots traded was 3,368.
Published 19 Feb, 2020 12:00am

Commodities
Euronext wheat futures flat as US market closed

Euronext wheat futures were little changed on Monday as US markets were closed for a public holiday, while continued weakness in the euro kept attention focused on a favourable export trend for European supplies. Front-month March milling wheat on Paris-b
Published 19 Feb, 2020 12:00am

Energy
European gasoline margins steady amid slow trade

Northwest European gasoline refining margins remained almost unchanged on Monday amid slow trade in the region. Intense storms and floods hit Western Europe at the weekend, slowing down barge shipments. The trade remained subdued on Monday, Dutch consulta
Published 19 Feb, 2020 12:00am

Commodities
China's iron ore hits three-week high on lower port stocks

Iron ore futures in China extended gains to a fifth straight session on Monday, underpinned further by data showing a drop in stocks of the steelmaking raw material at the country's ports, and after the central bank cut its medium-term lending rate.
Published 19 Feb, 2020 12:00am

Business & Economy
Activities at Karachi and Port Qasim

The Karachi Port handled 90,082 tonnes of cargo comprising 58,518 tonnes of import cargo and 31,564 tonnes of export cargo including 3,572 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 58,
Published 19 Feb, 2020 12:00am

Cotton & Textile
Sluggish business activity seen on cotton market

Rates of lint showed firmness on the cotton market on Tuesday after the issuance of the Pakistan Cotton Ginners Association (PCGA) fortnightly report, dealers said. The official spot rate was inert at Rs9100, they added. In the ready session, about 1200 b
Published 19 Feb, 2020 12:00am

Commodities
Russian wheat export prices down for third week

Russian wheat export prices registered a third consecutive weekly decline last week, hit by strong competition with other major exporters and a decline in global benchmarks in Chicago, analysts said on Monday. Egypt's state grain buyer bought 180,000 tonn
Published 19 Feb, 2020 12:00am

Money & Banking
Turkish lira weakest since May

Turkey's lira weakened against the dollar on Tuesday to its lowest point in regular trading since last May, as a central bank policy decision loomed and investors fretted over tensions in Syria's Idlib, where Ankara is bulking up its military.
Published 19 Feb, 2020 12:00am

Money & Banking
Euro on back foot against dollar in Asia

The euro was pinned near a three-year low versus the dollar ahead of a highly watched German survey on Tuesday, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe's largest economy.
Published 19 Feb, 2020 12:00am

Money & Banking
Early trade in New York: Dollar rises as weak German data hurts euro

The dollar rose on Tuesday to its highest in nearly three years against the euro, which was pressured by a German survey showing slumping investor confidence in Europe's largest economy. The euro was 0.36% lower against the dollar at $1.0795, its first fa
Published 19 Feb, 2020 12:00am

Money & Banking
Euro falls towards key $1.08 level in Europe

The euro extended losses on Tuesday to plumb a new three-year low against the dollar, after a German survey showing a slump in investor confidence added to pessimism about Europe's largest economy.
Published 19 Feb, 2020 12:00am

Money & Banking
Latam assets shaky

Latin American stocks and currencies slipped on Tuesday, after Apple Inc's sales warning stoked worries of how the coronavirus outbreak in China could affect companies and global supply chains. The world's most valuable technology company said it will mis
Published 19 Feb, 2020 12:00am

Money & Banking
Asian currencies slip

Asian currencies slipped on Tuesday as increasing financial fallout of the virus outbreak in China and chances of central banks opting for monetary easing as a measure to shore up regional economies weighed on investor sentiment.
Published 19 Feb, 2020 12:00am

Money & Banking
Sterling gains after UK budget date confirmed

Sterling climbed on Tuesday after Britain's new finance minister said he would deliver the budget as planned in three weeks, while a broadly weaker euro also lifted the currency.
Published 19 Feb, 2020 12:00am

Money & Banking
Aussie, kiwi swoon as economic costs of epidemic mount

The Australian and New Zealand dollars were jolted lower on Tuesday as a production warning from Apple highlighted the mounting economic costs of the coronavirus and spooked investors across Asia.
Published 19 Feb, 2020 12:00am

Stocks
Egyptian stocks plummet, Mobily weighs on Saudi bourse

Egyptian stock markets fell sharply on Tuesday ahead of its central bank meeting later this week to decide on rate cuts, while Saudi shares were pulled lower by losses at Etihad Etisalat (Mobily) after it missed fiscal year profit estimates.
Published 19 Feb, 2020 12:00am

Stocks
Topix sinks to near four-month low

Japanese shares fell on Tuesday, with the broad Topix index finishing at its weakest in nearly four months, as investors sold tech firms after Apple Inc warned it will likely miss quarterly revenue targets due to the coronavirus outbreak.
Published 19 Feb, 2020 12:00am

Stocks
China stocks lower

China's blue-chip stocks ended lower on Tuesday as Apple warned that it was unlikely to meet its March quarter sales forecast as the coronavirus slowed production and weakened demand in China. The blue-chip CSI300 index closed 0.5% lower, with its financi
Published 19 Feb, 2020 12:00am

Stocks
Tuesday's early afternoon trade: Wall Street skids after Apple's shock sales warning

US stocks dropped on Tuesday after a surprise sales warning from tech bellwether Apple highlighted the impact of the coronavirus outbreak on global supply chains. The world's most valuable technology firm said it would fall short of its recently announced
Published 19 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

Petrol/Litre / Dec 21

252.10

Karachi Cotton PKR/37.32 KG / Dec 21

17,585

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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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
Petrol/Litre / Dec 21	252.10
Karachi Cotton PKR/37.32 KG / Dec 21	17,585

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