News Archives for Print - 2020-02-22

Print - 2020-02-22

Country asked to complete action plan by June 30: 'Grey list' status maintained

While noting recent and notable improvements, the Financial Action Task Force (FATF) has again expressed its concerns given Pakistan's failure to complete its action plan in line with the agreed timelines and in light of the TF risks emanating from the ju

Updated 22 Feb, 2020 07:25am

Circular debt about to touch Rs 1.9 trillion mark

The country's energy sector circular debt is about to touch Rs 1.9 trillion mark, as it reached Rs 1.8842 trillion on January 31, 2020, against the claim of Rs 1.782 trillion made by the Power Division on February 12, 2020, showing a growth of Rs 104 bill

Published 22 Feb, 2020 12:00am

Government summons fertilizer players in a bid to bring down urea prices

The Ministry of Industries and Production (MoI&P) is said to have again summoned local fertilizer players. The move aimed at forcing them to reduce urea prices by Rs 400 per bag, as the justification for an expected increase in gas prices has died down af

Published 22 Feb, 2020 12:00am

FIA DG to conduct probe into sugar 'cartelization'

Prime Minister Imran Khan has constituted a three-member committee under the chairmanship of FIA Director General Wajid Zia to conduct inquiry into reported manipulation /cartelization by sugar mills. The committee will also have Director General Anti Cor

Published 22 Feb, 2020 12:00am

Combined income groups: February SPI inflation up 15.97 percent YoY

The Sensitive Price Indicator (SPI) on Year-on-Year (YoY) basis during (February 21, 2019 to February 20, 2020) went up by 15.97 percent, from 112.68 points to 130.67 points, according to the SPI data released by the Pakistan Bureau of Statistics (PBS).

Published 22 Feb, 2020 12:00am

Rs 15 billion Ehsaas Amdan Programme launched: Government reaches out to people living below poverty line

Taking his government's anti-poverty initiative of Ehsaas a step forward, Prime Minister Imran Khan on Friday launched the Ehsaas Amdan Program, aimed at creating opportunities for respectable livelihood for the most disadvantaged people through the trans

Published 22 Feb, 2020 12:00am

Stocks

PSX remains depressed: BRIndex100 lacks luster

Pakistan Stock Exchange Friday remained under pressure and closed on a negative note with extremely low volumes due to investors' lack of interest. BRIndex100 lost 26.35 points or 0.62 percent to close at 4,209.41 points. BRIndex100 touched intraday high

Published 22 Feb, 2020 12:00am

There's significant discrepancy in releases under PSDP

There is a significant discrepancy of 50 percent in the releases under Public Sector Development Programme (Rs 456.4 billion) uploaded by Ministry of Planning, Development and Reforms on February 21, 2020 and actual utilization of development funds (Rs 23

Published 22 Feb, 2020 12:00am

Loan, grant disbursements amounted to $2.4 billion in 2019: ADB review

The Asian Development Bank's loan and grant disbursements to Pakistan amounted to $2.4 billion in 2019, comprising $1.8 billion in programme lending and $634.3 million in project lending. The Bank in its review released on Friday stated that it has provid

Published 22 Feb, 2020 12:00am

Asia-Pacific airlines could lose $27.8 billion to coronavirus: IATA

Airlines operating in the Asia-Pacific region stand to lose a combined $27.8 billion of revenue this year in the ongoing coronavirus crisis, the International Air Transport Association said on Thursday.

Published 22 Feb, 2020 12:00am

Ministry of defence production: Government decides to turn 5 entities into autonomous bodies

The federal government has decided to declare five entities of the Ministry of Defense Production autonomous bodies. These are the Pakistan Ordnance Factories (POFs) Board, Wah Cantt, Heavy Industries Taxila (HIT) Board, Taxila, Pakistan Aeronautical Comp

Published 22 Feb, 2020 12:00am

Pakistan welcomes peace deal

Pakistan welcomed the announcement by United States and the Taliban on Friday that they would sign the peace deal on February 29, 2020 and hoped that the development leads to an early intra Afghan dialogue for durable and genuine peace in the war-torn cou

Published 22 Feb, 2020 12:00am

US prepares to sign withdrawal deal with Taliban on February 29

The US and the Taliban are set to sign a historic agreement that would pave the way to ending America's longest war, the bitter foes announced Friday, hours after Kabul said a week-long partial truce across Afghanistan would kick off this weekend.

Published 22 Feb, 2020 12:00am

Iran holds election

Iran extended voting for a third time on Friday in an election expected to see conservatives tighten their grip on parliament, amid voter apathy after the disqualification of thousands of candidates. The 11th parliamentary election since the 1979 Islamic

Published 22 Feb, 2020 12:00am

Trump, Russia issue denials as new meddling charges hit US election

Donald Trump and Russia on Friday both angrily dismissed US intelligence's account that Moscow is meddling in this year's election as Democrats accused the president of betraying democracy. US intelligence chief Joseph Maguire, whom Trump replaced on Wedn

Published 22 Feb, 2020 12:00am

APTMA urges Dawood to help resolve power tariff controversy

All Pakistan Textile Mills Association (APTMA) has sought help of Prime Minister's Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood for resolution of power tariff controversy due to shortsightedness of Power Division.

Published 22 Feb, 2020 12:00am

Ex-AGP tenders unconditional apology

The Attorney General for Pakistan (AGP), Anwar Mansoor Khan, not only lost his job as top law officer of the country, but also offered an unconditional apology to the apex court for his "contemptuous" remarks against the judges hearing the Justice Faez Is

Published 22 Feb, 2020 12:00am

Reference against judge: Government seeks 3-week adjournment

After the resignation of Attorney General for Pakistan (AGP) Anwar Mansoor Khan, the federal government on Friday requested the apex court for a three-week adjournment in the Justice Qazi Faez Isa case. The Additional Attorney General, Chaudhry Aamir Rehm

Published 22 Feb, 2020 12:00am

Crackdown against smuggling: Bilawal criticises PTI government for involving agencies

Pakistan People's Party (PPP) Chairman Bilawal Bhutto Zardari on Friday questioned the Pakistan Tehreek-i-Insaf (PTI) government's decision to involve the country's intelligence agencies in the crackdown against smuggling of food items and other goods.

Published 22 Feb, 2020 12:00am

First freight train to depart for Afghanistan today

Pakistan Railways first-ever Afghan transit trade train is all set to depart from Karachi on Saturday with nearly 35 containers, officials said. The train is expected to unload its cargo across the border in Afghanistan on Monday.

Published 22 Feb, 2020 12:00am

Rs 40,000 prize bonds: March 31st is deadline for encashment: SBP

The State Bank of Pakistan (SBP) Friday said the last date for encashment/replacement/conversion of the Rs 40,000 denomination national prize bond is March 31, 2020. With reference to the Finance Division, Government of Pakistan notification and the Curre

Published 22 Feb, 2020 12:00am

Reshuffle of Customs officials: FBR reverses major policy

Reversing a major policy concerning reshuffling of Customs officials, the Federal Board of Revenue (FBR) on Friday, allowed officers (inspectors/intelligence officers) of BS-16 and others BS-1 to 15 officials (transferred during 2019) to apply for transfe

Published 22 Feb, 2020 12:00am

Daroo serves legal notice on FPCCI internal auditor

The infighting between two groups of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has intensified after the debacle in the nomination of Pakistan's representative for the slot of President SAARC Chamber of Commerce and Industry surfaced

Published 22 Feb, 2020 12:00am

Letters

A chicken and egg situation

This is apropos a Business Recorder op-ed "The cost of confused macroeconomic policy" carried by the newspaper yesterday. The writer, Dr Omer Javed, has described the current situation in a highly fascinating manner. According to him, for example,

Published 22 Feb, 2020 12:00am

Articles

What women want?

Apart from Imran Khan, that is! Or George Clooney. Most women are smitten by IK, except the two Maryams (Aurangzeb and Nawaz). Women now comprehend him as a great reformer and leader. I shall go along with them, till history proves otherwise. But George C

Published 22 Feb, 2020 12:00am

Articles

UAE falcon hospital a window into Emirati tradition

Eid al-Qobeissy's two birds perch majestically in the waiting room of Abu Dhabi's falcon hospital, awaiting a routine check-up ahead of their hunting trip to Azerbaijan.

Published 22 Feb, 2020 12:00am

Articles

Circular profit

It pays to know people in power.

Published 22 Feb, 2020 12:00am

Articles

Mid-year budget review - 2019-20

The Federal Ministry of Finance has formulated the mid-year budget review 2019-20. Subject to its review by the Federal Cabinet and the National Assembly the report would be rolled out soon. One important aspect of the report is the fiscal risk analysis a

Published 22 Feb, 2020 12:00am

Afghan refugees' continuing plight

UN Secretary General Antonio Guterres' participation in the "International Conference on 40 Years of Hosting Afghan Refugees in Pakistan: A New Partnership for Solidarity" has hopefully helped refocus the world's attention on this lengthy displacement of

Updated 22 Feb, 2020 06:05am

Tax recovery drive

It is clear that the Federal Board of Revenue (FBR) is determined to explore all avenues to raise tax receipts of the country. According to an SRO issued by it on 17th February, 2020, recovery may be made from the taxpayers including tax defaulters from t

Updated 22 Feb, 2020 06:05am

Money & Banking

Pak-Qatar Takaful expands network across country

Pak-Qatar Takaful, Pakistan's Pioneer and the Largest Takaful Group announced the completion of over 100 branches across more than 90 cities of the country on Friday. PQTG is committed towards providing financial protection to everyone and serving its cus

Published 22 Feb, 2020 12:00am

Islamabad mayor's petition: IHC directs SAPM to submit written reply

The Islamabad High Court (IHC) Friday directed Ali Nawaz Awan, special assistant to the prime minister, to submit a written reply in Mayor Islamabad Sheikh Ansar Aziz's petition challenging the recommendation for his suspension by the Local Government Com

Published 22 Feb, 2020 12:00am

Judicial remand of ex-PM Abbasi extended till March 9

An Accountability Court on Friday extended judicial remand of former prime minister Shahid Khaqan Abbasi till March 9 in the Liquefied Natural Gas (LNG) case. The jail authorities produced the former premier and senior leader of the Pakistan Muslim League

Published 22 Feb, 2020 12:00am

Business & Economy

NA body visits IMC's manufacturing plant

National Assembly Standing Committee on Industries and Production headed by Sajid Turi on Thursday visited the manufacturing plant of M/s Indus Motor Company (IMC) which manufactures Toyota cars.

Published 22 Feb, 2020 12:00am

Business & Economy

CPEC projects' implementation to be accelerated: Umar

Ambassador of Peoples Republic of China Yao Jing called on the Minister for Planning, Development and Special Initiatives, Asad Umar, here on Friday, said a press release. Secretary Planning and other senior officials were also present in the meeting.

Published 22 Feb, 2020 12:00am

Fawad terms absence of Shahbaz 'violation of laws'

Federal Minister for Science and Technology Fawad Chaudhry said Leader of the Opposition in the National Assembly Shahbaz Sharif's absence was a violation of the assembly's laws. Fawad Chaudhry took to Twitter on Friday and said he had written a letter to

Published 22 Feb, 2020 12:00am

Chohan for thorough probe into newsman Aziz Memon's killing

Punjab Information Minister Fayyaz-ul-Hassan Chohan demanded on Friday that Pakistan People's Party Chairman Bilawal Bhoutto Zardari and local leadership of district Naushero Feroze should be included in the investigation of murder of journalist Aziz Memo

Published 22 Feb, 2020 12:00am

KP Assembly expresses solidarity with Azerbaijan

Khyber Pakhtunkhwa Assembly on Friday passed a resolution expressing solidarity with Azerbaijan amid the protest of the opposition against the attitude of the Speaker that continued for third consecutive day. The provincial Assembly resumed proceeding wit

Published 22 Feb, 2020 12:00am

PM optimistic about peace, stability in Afghanistan through agreement

Prime Minister Imran Khan on Friday expressed his optimism about peace and stability in Afghanistan through a possible agreement between the United States and Taliban, saying for the first time things were moving in the right direction.

Published 22 Feb, 2020 12:00am

Business & Economy

Post-Brexit scenario: No negative impact on Pak-UK trade: Deputy HC

No negative impact on Pak-UK trade is expected in post-Brexit scenario. However, UK will continue to lend full support to Pakistan to maintain existing facility of GSP plus in EU.

Published 22 Feb, 2020 12:00am

Energy

Transportation of Thar coal: Sindh CM, CPECA chief discuss Chhor to Islamkot Railway track

A 105-kilometer railway line will be constructed from Chhor to Islamkot to transport coal from Thar Coal field to Port Qasim and up-country, apart from launching coal to gas to urea and liquid projects and installation of 1320MW power plant in Thar Coal B

Published 22 Feb, 2020 12:00am

SC asks Sindh government to furnish outlines of KCR's revival plan

Supreme Court (SC) on Friday sought the outlines of plan from Sindh Government about the revival of Karachi Circular Railway (KCR). "Submit the outlines of plan to tell the court that what government can do and what it can't," three-member bench of SC hea

Published 22 Feb, 2020 12:00am

Business & Economy

Business environment: KCCI report makes several recommendations

Differences among the federal, provincial and local governments, along with illegal practices and ancient governmental regulations, have robbed Karachi of its rights. This was stated in a repot prepared by the Research and Development Department of the Ka

Published 22 Feb, 2020 12:00am

Baqir apprises Alvi of steps to facilitate special persons

President Dr Arif Alvi Friday visited the State Bank of Pakistan (SBP) for a roundtable discussion on financial inclusion of differently abled persons, hosted by State Bank of Pakistan (SBP) Governor Dr Reza Baqir. Senior officials of SBP, Presidents and

Published 22 Feb, 2020 12:00am

Business & Economy

Crown Group invests Rs 2 billion in electric vehicles plant

The Crown Group recently organized a market testing and sales display of its exclusive range of CROWNE electric vehicles which included two-, three- and four-wheelers, which will enable users to drive a distance of a kilometre at only Rs 1.25.

Published 22 Feb, 2020 12:00am

Business & Economy

Three-day Pakistan Auto Show-2020 begins

The three-day Pakistan Auto Show-2020 organized by the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) began here at the Expo Centre on Friday.

Published 22 Feb, 2020 12:00am

Energy

Sindh and Balochistan SSGC's operation Grift under way

The Sui Southern Gas Company's Operation Grift has been underway in its franchise provinces of Sindh and Balochistan. The Security Services and Counter Gas Theft Operations team has been fighting to bring down incidences of gas theft ever since the depart

Published 22 Feb, 2020 12:00am

PA speaker urges lawyers to play role for reforming society

Acknowledging the lawyers' role for supremacy of law, Speaker Punjab Assembly Ch Parvez Elahi has urged the lawyers to play their role for reformation of society.

Published 22 Feb, 2020 12:00am

Members of AMUOBCHS stage protest

A large number of members of the Aligarh Muslim University Old Boys' Cooperative Housing Society (AMUOBCHS) held a protest against the land mafia involved in illegal business of their plots and encroachment of the land on Friday.

Published 22 Feb, 2020 12:00am

Business & Economy

PDWP approves uplift schemes worth over Rs 37 billion

A meeting of the Provincial Development Working Party (PDWP) here on Friday approved various development schemes worth Rs 37.037 billion. The meeting was presided over by the Chairman of the Planning & Development Board of Sindh, Mohammad Waseem.

Published 22 Feb, 2020 12:00am

People urged to shun trend of self-medication

A lady health expert has warned the citizens to stay away from self-medication practices as it can cause severe adverse reactions and mask to severe diseases.

Published 22 Feb, 2020 12:00am

Engro Corp announces results for FY ended December 31

Pakistan's premier conglomerate, Engro Corporation has announced its financial results for the financial year ended December 31, 2019. Consolidated revenue grew by 32 percent in comparison to the year ended December 31, 2018, mainly driven by energy proje

Published 22 Feb, 2020 12:00am

PTI government slammed for creating distortion among institutions

The Amun Taraqqi Party (ATP), chairman Muhammad Faiq Shah has criticised the PTI led government for creating distortion and confrontation situation between institutions and in society on name of reform.

Published 22 Feb, 2020 12:00am

Business & Economy

'SCCI to make all-out efforts to resolve traders' issues'

President of Sarhad Chamber of Commerce and Industry, Engr Maqsood Anwar Pervez has assured the traders community that SCCI will make all-out efforts to resolve their issues on priority basis. He urged the government to reshape its economic policies for b

Published 22 Feb, 2020 12:00am

Agha Steel launches 'ARCON'

Agha Steel Industries Ltd (ASIL) has maintained a legacy of providing most durable, consistent and incomparable products and services surpassing the international standards. In continuation of its legacy by introducing a revolutionary, world-acclaimed Def

Published 22 Feb, 2020 12:00am

Three-year Hajj policy for private sector soon: minister

Federal Minister for Religious Affairs Pir Noor-ul-Haq Qadri has said the government is planning three-year Hajj policy for the private sector instead of a single year. The Hajj policy for the private sector will be announced soon.

Published 22 Feb, 2020 12:00am

Use of sterilised equipment being ensured in hospitals: PHC

The Punjab Healthcare Commission (PHC) is ensuring use of sterile medical equipment in the public and private hospitals and monitoring teams have been formed for implementation in this regard.

Published 22 Feb, 2020 12:00am

Capital cleanliness issue: Senate body summons mayor, CDA chairman

Senate Standing Committee on Climate Change on Friday expressed strong concern on the lack of cleanliness, and deteriorating environment standards in the federal capital and summoned Islamabad Mayor Sheikh Ansar Aziz, Capital Development Authority (CDA) C

Published 22 Feb, 2020 12:00am

PFA seals 24 eateries across Punjab

The Punjab Food Authority (PFA) continued crackdown against milk adulteration in different parts of the city on the second consecutive day on Friday and discarded 4,600 litres tainted milk.

Published 22 Feb, 2020 12:00am

Lal Masjid admn approaches IHC

The administration of Red Mosque (Lal Masjid) on Friday approached Islamabad High Court (IHC), seeking court's intervention to reopen the mosque.

Published 22 Feb, 2020 12:00am

Ban on use of plastic bags: LHC seeks report from EPA by 28th

The Lahore High Court on Friday sought a report from Environment Protection Agency (EPA) by February 28 about compliance of a ban on use of plastic bags at mega stores.

Published 22 Feb, 2020 12:00am

Government committed to make 'Digital Pakistan': Sukhera

Federal Commerce Secretary Sardar Ahmad Nawaz Sukhera has said that the government is committed to make "Digital Pakistan" with less human interaction as technological assistance is the only solution to various problems. He was speaking at the Lahore Cham

Published 22 Feb, 2020 12:00am

Ehsaas Programme to help alleviate poverty: CM

Terming the 'Ehsaas Programme' as a valuable vision of Prime Minister Imran Khan, Chief Minister Punjab Sardar Usman Buzdar on Friday said this Programme is a giant leap towards poverty alleviation and the establishment of a welfare state.

Published 22 Feb, 2020 12:00am

Flour mills asked to grind only officially supplied wheat

Khyber Pakhtunkhwa Minister for Food, Haji Qalandar Khan Lodhi on Friday directed the Food Department to make sure that flour mills must grind the wheat provided to them under government's subsidized quota. He issued these directives while presiding over

Published 22 Feb, 2020 12:00am

Articles

Partly Facetious: Umer Akmal has a history...

"One down forty left to go."

Published 22 Feb, 2020 12:00am

Gold surges Rs 1150

Gold on Friday posted an increase of Rs 1150 per tola to Rs93650 on the local market, traders said. The yellow metal is now selling for Rs80290 per 10 grams, up by Rs986 and $1635 an ounce, up by Rs 23. Silver is available for Rs 1060 per tola, up by Rs 1

Published 22 Feb, 2020 12:00am

Business & Economy

Transport sector: CCP recommends law for regulating ridesharing market

The Competition Commission of Pakistan (CCP) has strongly recommended that the legislature should introduce a modern law for the regulation of ridesharing market in the transport sector.

Published 22 Feb, 2020 12:00am

Senate body discusses Zainab Alert Response and Recovery Bill (ZARRA), 2020

The Senate Functional Committee on Human Rights in its meeting held on Friday at the Parliament House discussed in detail Zainab Alert Response and Recovery Bill (ZARRA), 2020, introduced in the house by Minister for Human Rights Dr Shireen Mazari.

Published 22 Feb, 2020 12:00am

National Sports City-Narowal: NA body suggests resumption of construction work

National Assembly Standing Committee on Inter-Provincial Coordination has recommended that the construction work of National Sports City at Narowal should be started without any further delay and invited representatives of the National Accountability Bure

Published 22 Feb, 2020 12:00am

Stocks

REIT Management Company Limited: SECP allows subsidiary of ISE Towers to apply for registration

The Securities and Exchange Commission of Pakistan (SECP) has allowed subsidiary of the ISE Towers-Real Estate Investment Trust (REIT) Management Company Limited to apply for the registration to act as a trustee of "open end scheme" or "closed end scheme"

Published 22 Feb, 2020 12:00am

Business & Economy

NHA's daily revenue increases by Rs 59.5 million: minister

"The revenue of the National Highways Authority (NHA) has increased by Rs 59.5 million per day and the authority would be made financially self reliant through generating more financial resources." This was stated by Federal Minister for Communications an

Published 22 Feb, 2020 12:00am

Business & Economy

NA body recommends over dozen schemes worth Rs 17.5 billion under PSDP

National Assembly Standing Committee on Cabinet Secretariat on Friday recommended over a dozen schemes worth Rs 17.5 billion for Public Sector Development Programme (PSDP) 2020-21. Presided over by Syed Amin-ul-Haq, the committee was apprised that the Cab

Published 22 Feb, 2020 12:00am

Bulgaria delays entry into euro 'waiting room' until July

Bulgaria has delayed until July its plans to join the ERM2 Exchange Rate Mechanism, also known as the eurozone "waiting room", Prime Minister Boyko Borisov said Friday.

Published 22 Feb, 2020 12:00am

Burkina violence displacing 4,000 people daily: UN

More than 4,000 people are being forced to flee their homes each day in Burkina Faso, as attacks on civilians by jihadist militants increase in number and frequency, the UN's refugee agency said on Friday.

Published 22 Feb, 2020 12:00am

Pompeo meets new Sultan of Oman

US Secretary of State Mike Pompeo met Oman's new leader Sultan Haitham bin Tariq in Muscat on Friday, Omani state media said, during the top American diplomat's final stop in a tour of African and Gulf states.

Published 22 Feb, 2020 12:00am

Watchdog sanctions Iran over lax terror financing laws

A multinational financial crimes watchdog on Friday faulted Iran for not doing enough to counter a "terrorist financing risk" and announced the reinstatement of punitive measures against the country.

Published 22 Feb, 2020 12:00am

Saudi-led coalition intercepts Yemen rebel missiles targeting cities

Saudi Arabia has intercepted missiles fired towards its cities by Huthi rebels in neighbouring Yemen, the Riyadh-led military coalition said, in the insurgents' latest cross-border attack.

Published 22 Feb, 2020 12:00am

Democrats elbow for breakout moment in Nevada and beyond

Democratic White House hopefuls make their final pitches to Nevada voters Friday on the eve of the latest contest in the nomination race, as the state seeks to avoid the chaos that marred voting in Iowa.

Published 22 Feb, 2020 12:00am

Erdogan urges Russia to restrain Syria regime in Idlib

Turkish President Recep Tayyip Erdogan urged his Russian counterpart Vladimir Putin to halt the Syrian regime's violence in Idlib on Friday as efforts intensified to avoid more bloodshed in the final rebel holdout.

Published 22 Feb, 2020 12:00am

Six students drown, five missing in Indonesia flood

At least six students drowned and five others are missing after being caught by a flash flood in torrential rain while trekking near a river in Indonesia Around two dozen students from a group of 250 were injured in the incident and taken to hospital in Y

Published 22 Feb, 2020 12:00am

Algerians flood streets to mark protest movement's first birthday

Algerians flooded the capital's streets Friday to mark the first anniversary of a protest movement that has forced the president to quit but still clamours for the complete overhaul of the political system.

Published 22 Feb, 2020 12:00am

WHO says window of opportunity to stem virus 'narrowing' as cases soar

The World Health Organization warned Friday that the window to stem the deadly coronavirus outbreak was shrinking, amid concern over a surge in cases with no clear link to China. WHO chief Tedros Adhanom Ghebreyesus has for weeks insisted the low number o

Published 22 Feb, 2020 12:00am

Money & Banking

Dollar dominates in Asian trade

The yen was set for its worst week in two-and-a-half years on Friday, as fears over the creeping spread of the coronavirus epidemic drove funds out of Asia and looking for safety in the US dollar, gold and bonds. Though it barely budged on Friday, the yen

Published 22 Feb, 2020 12:00am

Money & Banking

Yen repairs some damage in Europe

The yen regained its footing on Friday, as traders swooped back into the Japanese currency after its worst four-day run in more than two years. The yen had lost 2% against the dollar in the previous two days alone as worries about the impact of the corona

Published 22 Feb, 2020 12:00am

Money & Banking

Early trade in New York: Dollar slips across the board

The US dollar fell across the board on Friday after a survey of purchasing managers showed US business activity in the manufacturing and services sectors stalled in February as companies have grown increasingly concerned about the coronavirus.

Published 22 Feb, 2020 12:00am

Money & Banking

Broadly strong dollar drives yen to 10-month low in NY

The yen fell past 112 to a 10-month low against a broadly stronger US dollar on Thursday, extending recent losses for the Japanese currency as investors fretted about dire economic news out of the country. Against the yen, the dollar rose 0.62% to 112.04

Published 22 Feb, 2020 12:00am

Money & Banking

Turkish lira weakens further

The Turkish lira and bonds slipped on Friday as increasing conflict in neighbouring Syria unsettled investors, with the market also hit by a global flight to safe-haven assets in response to coronavirus worries. Syria-related jitters increased after Turki

Published 22 Feb, 2020 12:00am

Money & Banking

Most Asian units slip

Most Asian currencies slipped on Friday, with the South Korean won leading declines, as a sharp rise in new coronavirus cases outside mainland China sent investors scurrying to safer assets such as the US dollar. The South Korean won fell 0.6% after the c

Published 22 Feb, 2020 12:00am

Money & Banking

Aussie, kiwi sink as virus takes its toll

The Australian dollar plumbed 11-year lows on Friday, while its New Zealand cousin languished at four-month lows as the impact of the coronavirus epidemic in China, the biggest export market for Australia and New Zealand, made investors seek safer harbour

Published 22 Feb, 2020 12:00am

Money & Banking

Sterling rises against dollar and euro

Sterling rose against both the dollar and euro on Friday after UK factories reported the fastest rise in output for 10 months in February, assuaging some fears over the economy as Britain prepares for trade talks with the EU.

Published 22 Feb, 2020 12:00am

Cricket

No plan of four-day Tests

ECB chief executive Tom Harrison says there are no plans to introduce four-day Test matches in England as debate swirls over the future of the longest form of the game.

Published 22 Feb, 2020 12:00am

Other

Abdullah, Saki in Imran Mohib Squash final

Pakistan No. 1 Abdullah Nawaz will face Saki Ullah in the final of All Pakistan Imran Mohib Memorial Squash Championship being played at PAF Hashim Khan Squash Complex here Friday.

Published 22 Feb, 2020 12:00am

Cricket

Dream debut as Jamieson snares Kohli in three-wicket haul

The towering Kyle Jamieson had a dream introduction to Test cricket with three wickets, including the prized scalp of Virat Kohli, on a rain-shortened opening day of the first Test against India in Wellington on Friday.

Published 22 Feb, 2020 12:00am

Cricket

Umar Akmal confesses to have a meeting with bookmaker

Batsman Umar Akmal, who was suspended by the Pakistan Cricket Board (PCB)'s Anti-Corruption Unit (ACU), is learnt to have confessed to have a meeting with a bookmaker.

Published 22 Feb, 2020 12:00am

Cricket

India upset Autralia in T20 World Cup opener

Leg-spinner Poonam Yadav bowled India to an upset 17-run win over defending champions Australia in the opening game of the women's Twenty20 World Cup in Sydney on Friday.

Published 22 Feb, 2020 12:00am

Cricket

Karachi Kings win in splendid match of HBL PSL V 2020

Karachi Kings won its first match of HBL PSL V 2020 against Peshawar Zalmi by 10 runs. Zalmi's hope to win the match was buried with a splendid catch of Sammy by Umaid on his fourth ball of innings' last over when Zalmi needed 12 runs on four balls. He ma

Published 22 Feb, 2020 12:00am

Global Business Economy

Russia counts China trade losses from coronavirus

Russian exports to China have been hit hard by the new coronavirus, which curbed demand and the movement of people and goods, official figures showed Friday.

Published 22 Feb, 2020 12:00am

Global Business Economy

Ghosn postpones suit seeking retirement pay from Renault

Lawyers for Carlos Ghosn on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer Renault, saying the French carmaker had not given them enough time to prepare arguments.

Published 22 Feb, 2020 12:00am

Global Business Economy

EU leaders make last-ditch push for budget 'miracle'

Feuding EU leaders made a last ditch push to agree on the bloc's trillion-euro budget on Friday, with France and Germany pushing "frugals" and big-spenders to find common ground. After a night of tough talks, leaders and diplomats worked furiously for a s

Published 22 Feb, 2020 12:00am

Global Business Economy

China sees only short-term virus impact on Southeast Asia economies

A senior Chinese diplomat on Friday sought to ease concerns about the economic impact on Southeast Asian countries from the coronavirus outbreak, including delays in infrastructure projects that are part of China's Belt and Road Initiative.

Published 22 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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