News Archives for Print - 2020-02-23

Print - 2020-02-23

IHC hears petition on Pakistani citizens stranded in China

The Islamabad High Court (IHC) on Saturday heard two petitions with regard to Pakistanis stranded in China amid the novel coronavirus (NCV) outbreak.

Published 23 Feb, 2020 12:00am

President appoints Khalid Jawed as AGP

President Arif Alvi app-ointed Khalid Jawed Khan as Attorney General for Pakistan with the rank and status of federal minister. A notification in this regard was issued by the Ministry of Law and Justice on Saturday, which said; "In exercise of power conf

Updated 23 Feb, 2020 05:02am

Pakistan undergoing dual scrutiny at FATF platform: Azhar

Minister for Economic Affairs Hammad Azhar has said that Pakistan is undergoing dual scrutiny at the Financial Action Task Force (FATF) platform, besides overwhelming majority of countries have positively acknowledged the significant progress made by Paki

Updated 23 Feb, 2020 05:02am

Xi likely to visit Pakistan in June

Chinese President Xi Jinping is expected to visit Pakistan in June this year to hold talks on further deepening bilateral ties and strengthening the strategic partnership between the two countries.

Updated 23 Feb, 2020 05:02am

FY20: fiscal deficit of 7.5 percent projected

The Finance Ministry has now projected consolidated fiscal deficit of 7.5 percent at the end of financial year 2019-20 against the projected 7.1 percent due to revision in provincial surplus, documents available with this correspondent reveal.

Published 23 Feb, 2020 12:00am

Government unlikely to fetch Rs 1.5 trillion non-tax revenue

The government is unlikely to complete privatization of two RLNG power plants and mobilize the remaining 50 percent cellular license fees to achieve additional Rs 1,500 billion non-tax revenue pledged by the Advisor to the Prime Minister on Finance, Hafee

Updated 23 Feb, 2020 05:02am

Revolutionary Guards make early gains in Iran vote

Candidates affiliated with Iran's Revolutionary Guards looked on course to win a parliamentary majority on Saturday, reportedly leading in the race in Tehran and towns and villages elsewhere, after a vote stacked in favour of the anti-American hardliners.

Updated 23 Feb, 2020 05:02am

3rd anniversary of Raddul Fasaad operation: Armed forces capable of thwarting any threats: COAS

Chief of the Army Staff General Qamar Javed Bajwa on Saturday said that gains made during the past two decades of the war on terror would be consolidated to achieve enduring peace and stability not only in the country but all over the region.

Updated 23 Feb, 2020 05:02am

Let's come together to tax tech giants, say G20 officials

Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon and Facebook, G20 officials said on Saturday. Global rules are being developed by the Organisation for Economic Cooperation

Published 23 Feb, 2020 12:00am

Tax reform panels told: Deadline for submission of reports 26th: FBR

The Federal Board of Revenue (FBR) has given a final deadline of February 26, 2020, to the steering committees for restructuring of the FBR, to submit their reports for reforming the tax machinery through creation of the Pakistan Revenue Authority.

Updated 23 Feb, 2020 05:02am

Honorary citizenship announced for Darren Sammy

President Arif Alvi on Satu rday anno-unced honorary citizenship and the highest civilian award for Peshawar Zalmi captain, Darren Sammy in recognition of his most important role in the restoration of international cricket in Pakistan and his love for Pak

Published 23 Feb, 2020 12:00am

Shatrughan Sinha calls on President

Shatrughan Sinha, Indian politician and former Actor, called on President Dr Arif Alvi in Lahore Saturday. During the meeting at the Governor's House in Lahore, the President expressed his deep concern over the human rights violations by Indian security f

Published 23 Feb, 2020 12:00am

Taliban, Afghan forces clash on first day of violence reduction period

Taliban fighters and Afghan security forces clashed in parts of Afghanistan on Saturday, a day after a week-long "reduction in violence" was announced, but the incidents did not spark immediate alarm on either side.

Published 23 Feb, 2020 12:00am

PTI government 'will be over in 6 months': Bilawal

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari on Saturday said that the government of Pakistan Tehreek-e-Insaf (PTI) will be over in next six months. Talking to media, he pointed out that Nawaz Sharif was also 'selected' like Imran Khan. "P

Published 23 Feb, 2020 12:00am

Why has law minister distanced himself from ex-AGP's statement?

Why did it take two days for Law Minister Farogh Naseem to distance himself and the government from the highly controversial remarks by former Attorney General Anwar Mansoor Khan before the larger bench during Justice Qazi Faez Isa's petition against the

Published 23 Feb, 2020 12:00am

Dhabeji SEZ in Sindh: Investors to get up to 10-year tax holiday

The investors will enjoy 5-10 years tax holiday on income tax for investing in Dhabeji Special Economic Zone (DSEZ) in Sindh. Duty free imports of plant and machinery would also be allowed for the investment in Dhabeji SEZ, a presentation of Sindh Economi

Published 23 Feb, 2020 12:00am

Coronavirus outbreak: Iran dismisses reports of limiting entry of Pakistanis

The Consul General of the Islamic Republic of Iran in Pakistan's south-western city of Quetta strongly dismissed the media reports that Iran has limited the entry of Pakistani nationals due to coronavirus outbreak.

Published 23 Feb, 2020 12:00am

Sugar 'cartelization': Probe body may co-opt CCP as member

The committee formed by Prime Minister Imran Khan to probe the recent sugar crisis, may co-opt the Competition Commission of Pakistan (CCP) as a member, to use its expertise in finding out whether or not there was 'cartelization' behind the crisis. The pr

Published 23 Feb, 2020 12:00am

Smuggling of food items: Customs authorities asked to deploy all possible resources

The Federal Board of Revenue (FBR) on Saturday directed Customs authorities including Customs Intelligence department to immediately deploy all possible resources for controlling smuggling of food items. In this regard, the FBR has issued instructions to

Published 23 Feb, 2020 12:00am

Trump likely to discuss Pak-India tensions in talks with Modi

Ahead of US President Donald Trump's maiden visit to India from February 24-25, the White House has stated that the President would "encourage a reduction in tensions between India and Pakistan" and to "engage in bilateral dialogue with each other to reso

Published 23 Feb, 2020 12:00am

Iran shuts schools, cultural centres as coronavirus kills five

Iran on Saturday ordered the closure of schools, universities and cultural centres after a coronavirus outbreak that has killed five people in the Islamic republic - the most outside the Far East. The moves came as Iranian authorities reported one more de

Published 23 Feb, 2020 12:00am

Letters

FPCCI: A serious issue?

This is apropos a Business Recorder news item "Daroo serves legal notice on FPCCI internal auditor" carried by the newspaper yesterday; according to which, "The infighting between two groups of Federation of Pakistan Chamber of Commerce and Industry (FPCC

Published 23 Feb, 2020 12:00am

Articles

Italy towns under lockdown as first European coronavirus death reported

An Italian man became the first European to die after being infected with the coronavirus Friday, just hours after 10 towns in the country were locked down following a flurry of new cases. The 78-year old from the Veneto region who had tested positive for

Published 23 Feb, 2020 12:00am

Articles

Citizens of nowhere: Trump ban raises fear for US Rohingya

A refugee from Myanmar's tyrannized Rohingya minority, Lila Mubarak embodies perfectly the "poor, huddled masses" welcomed to the United States for more than a century by a bronze plaque at the foot of the Statue of Liberty.

Published 23 Feb, 2020 12:00am

Articles

Cars and competition disruption

Nothing is better than competition. Pakistan's automotive industry is going through a transition phase. For the last thirty years, three Japanese assemblers dominated the passenger car segment. Localization of parts never happened to the liking of policym

Published 23 Feb, 2020 12:00am

Prohibit corporal punishment

Chief justice of the Islamabad High Court Athar Minallah has taken a serious notice of the pervasive use of violence as a way of disciplining children in schools. Hearing a petition on Thursday filed by famous singer and rights activist, Shahzad Roy, the

Updated 24 Feb, 2020 06:31am

Civil service reforms

The government is all set to introduce the promised civil service reforms with a focus on the powerful Pakistan Administrative Service (PAS), the previous DMG group. The reform plan, prepared by a task force headed by former State Bank governor Dr Ishrat

Updated 24 Feb, 2020 06:40am

Clueless still

Life in Pakistan is proving not just difficult but even cheap. What began on the evening of February 16, 2020, as reports of some noxious fumes or gas that produced breathing difficulties to residents in Keamari, Karachi, close to the port remains a myste

Updated 24 Feb, 2020 06:27am

Sharifs family no more interested in country's politics, claims Fawad

Federal Minister for Science and Technology Fawad Chaudhry on Saturday said that Sharif family will not return back to Pakistan as they are no more interested in country's politics. The federal minister taking to Twitter said, "Sharif family will not come

Published 23 Feb, 2020 12:00am

Need for solutions to problems in religious books stressed

The world needs to find solutions, to the problems in the religious books, created by globalization in the modern age, claimed the participants during the first day of the two-day long International Seerat Conference 2020, organized by the Seerat Chair of

Published 23 Feb, 2020 12:00am

US-Afghan peace deal: Pakistan's sincere role leads to historic breakthrough: FM

Foreign Minister Shah Mahmood Qureshi has said that Pakistan has played a sincere role in constructing a roadmap for peace in Afghanistan, which led to the "historic breakthrough" as both the United States and the Taliban have agreed to sign a peace deal

Published 23 Feb, 2020 12:00am

Carjacking cases on the rise in Capital

Auto-thieves and armed robbers struck at 13 separate locations in the federal capital and deprived citizens of their vehicles and valuables during last week. According to data gathered by Business Recorder, over eight cases of various carjacking, and five

Published 23 Feb, 2020 12:00am

Fees, other charges: Certain medical colleges flouting SC order

The apex court verdict with respect to fees and other chares is being openly flouted by some medical and dental colleges. Students and their parents have appealed to the Supreme Court of Pakistan and Pakistan Medical & Dental Council (PMDC) to take notice

Published 23 Feb, 2020 12:00am

ANP greets US-Taliban ceasefire announcement

ANP President, Asfandyar Wali Khan has welcomed the announcement of ceasefire between the United States and Taliban after a period of 18 years and said that basically instead of two there are three parties including the government of Afghanistan.

Published 23 Feb, 2020 12:00am

PTI accused of hijacking PML-N government's projects

The Pakistan Muslim League-Nawaz (PML-N) on Saturday alleged that Prime Minister Imran Khan had been taking credit for projects the PML-N government had already completed in its previous tenure by "re-inauguration and reinstallation of foundation stones".

Published 23 Feb, 2020 12:00am

Rabbani's bill aims to curtail presidential powers of promulgating ordinances

Former chairman Senate Raza Rabbani's bill seeking certain amendments in the constitution to prevent the President of Pakistan from 'misusing' his authority in promulgating presidential ordinances requires two-third majority in both houses of Parliament i

Published 23 Feb, 2020 12:00am

Business & Economy

Goods-loading through passenger buses illegal: FCCI chief

Goods-loading through passenger buses is illegal and concerned officials must take stringent measure to check this increasing trend, said Rana Sikandar-e-Azam Khan President Faisalabad Chamber Of Commerce & Industry (FCCI).

Published 23 Feb, 2020 12:00am

Lahore Literary Festival concludes

The 8th International Lahore Literary Festival continued with full swing in the Lahore Arts Council on Saturday which was attended by thousands of youths on the concluding day. In this connection, Lahore Arts Council Executive Director Alhamra Athar Ali

Published 23 Feb, 2020 12:00am

Business & Economy

Import from China, India: PCMA for steps to meet challenges of unavailability of raw materials

Pakistan Chemical Manufacturers Association (PCMA) has called for the permanent solution of the problems to be faced by the local industry due to unavailability of the imported raw materials from China and India.

Published 23 Feb, 2020 12:00am

Business & Economy

Government urged to review trade policy

The Friends of Economic and Business Reforms (FEBR) have urged the government to review its trade and export policies with a keen focus on value-addition for a sustainable economic trajectory.

Published 23 Feb, 2020 12:00am

Pakistan becoming cradle of peace in real terms: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar on Saturday said that Pakistan is becoming cradle of peace in real terms, while America and Britain have declared Pakistan as safer country for their citizens and the people from across the world are coming to Paki

Published 23 Feb, 2020 12:00am

Business & Economy

Bulgaria keen to promote trade ties with Pakistan: envoy

Ambassador of the Republic of Bulgaria to Pakistan Aleksandar Parashkevov on Saturday visited Sialkot Chamber of Commerce and Industry (SCCI) to discuss ways and means for the promotion of bilateral trade and develop B2B contacts between businessmen of Bu

Published 23 Feb, 2020 12:00am

Amendments to kite flying act challenged

A citizen and others challenged on Saturday before the Lahore High Court amendments made in the kite flying act. The petitioners contended that the government under the amendments banned kite flying in the province. They said ban on kite flying caused dam

Published 23 Feb, 2020 12:00am

389 acres of Railway land retrieved so far: Rashid

Railways Minister Sheikh Rashid Ahmad has claimed that 389 acres of land worth Rs 50 billion had been retrieved so far from land grabbers. He said work on the Karachi Circular Railways would complete within time on the directions of the Supreme Court.

Published 23 Feb, 2020 12:00am

Seminar on 'Autism and Child Psychiatry': President for creating job opportunities for special persons

Emphasising the need for harnessing the abilities of special persons, President Dr Arif Alvi said on Saturday that job opportunities should be created for special persons besides setting up different kinds of call centers to help such persons.

Published 23 Feb, 2020 12:00am

'Childhood Cancer Awareness Day' marked by HBL-PSL

The HBL-Pakistan Super League (PSL) continues to make an impact on and off the field as Pakistan Cricket Board (PCB) Saturday joined hands with the Indus Hospital, Karachi and Pink Ribbon Pakistan and marked 'Childhood Cancer Awareness Day.'

Published 23 Feb, 2020 12:00am

Most of government hospitals lack safety, protective equipment: experts

Doctors and medics have put lives on line while treating patients with viral infections, as except few urban hospitals, most of government hospitals in the country lack safety and protective equipment and infrastructure to deal with infectious diseases, t

Published 23 Feb, 2020 12:00am

Business & Economy

'Cities improvement project' launched in KP

The provincial government of Khyber Pakhtunkhwa with the financial assistance of Asian Development Bank (ADB) and other donor agencies has launched Cities Improvement Project (CIP) to ensure clean drinking water in five major cities of the province.

Published 23 Feb, 2020 12:00am

International moot on 'Pure & Applied Mathematics' held at UMT

Renowned International and National mathematicians flocked together at the 6th two-day International conference held by the University of Management and Technology (UMT) on Pure and Applied Mathematics to discuss innovative ideas, share new information an

Published 23 Feb, 2020 12:00am

Land sliding claims nine lives in district Buner

Nine people were killed and five other sustained injuries when a marble block in Salarzai area of District Buner broken suddenly, confirms the officials of the Rescue 1122. The labours were busy in marble excavations when heavy rock of marble suddenly bro

Published 23 Feb, 2020 12:00am

Gold reaches highest at Rs 94,300 per tola

Gold on Saturday reached highest level of Rs 94300 per tola, up by Rs 650 on the local market, traders said. The yellow metal is now selling for Rs 80847 per 10 grams, up by Rs 557 and $1644 an ounce, up by $9. Silver is available for Rs 1060 per tola, R

Published 23 Feb, 2020 12:00am

Business & Economy

PBIF chief for reducing size of government

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said the increased size of the government is a sure recipe for disaster. It is not only the foreign loans, circular debt, and wastage on failed corporations which have e

Published 23 Feb, 2020 12:00am

Business & Economy

Government urged for policy advocacy to remove tariff, non-tariff barriers

President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar has urged the government for policy advocacy to remove tariff and non-tariff barriers which Pakistani exports are facing in several markets of the region a

Published 23 Feb, 2020 12:00am

Dawood varsity holds NPC

Dawood University of Engineering and Technology on Saturday organized National Project Competition (NPC) in collaboration with Dawood Foundation. The NPC was inaugurated by Imran Ismail, Chancellor and Governor of Sindh, who was the Chief Guest of event w

Published 23 Feb, 2020 12:00am

Money & Banking

Pakistan's praise at FATF a good news: Dr Awan

Special Assistant to Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan Saturday said appreciation of Pakistan at Financial Action Task Force (FATF) meeting was a good news for the country and bad news for its enemies. In a tweet, she t

Updated 23 Feb, 2020 11:23pm

JKLF delegation apprises UK MPs of IHK's latest situation

A delegation of Jammu and Kashmir Liberation Front (JKLF), on Saturday, met the visiting British Members of Parliament (MPs) in Islamabad and apprised them of the latest situation of occupied Kashmir.

Published 23 Feb, 2020 12:00am

Prices of fruits, veggies witness upward trend

Prices of essential kitchen items especially vegetables continued to witness an increasing trend during this past week as compared to the week before, a survey carried out by Business Recorder revealed here on Saturday.

Published 23 Feb, 2020 12:00am

Articles

Justice Rana Bhagwandas remembered

It was 2007 - a year of upheavals and an extremely tumultuous time in the country's political and judicial history. Each day brought with it disturbing reports of disorder, chaos and new high-profile cases while the rumor mills worked overtime to add to t

Published 23 Feb, 2020 12:00am

Business & Economy

Government urged to focus on developing SMEs

Anum Tarraqi Party (ATP) Chairman Muhammad Faiq Shah has urged the government to focus on the development of small and medium enterprises (SMEs) and on industrialization to generate maximum employment opportunities and to boost the country's economy.

Published 23 Feb, 2020 12:00am

INGOs, NGOs working on tobacco control: Government needs to check registration status, funding sources

The federal government needs to immediately verify/check the registration status and funding sources of International Non-Governmental Organisations (INGOs) and Pakistani Non-Profit Organisations (NPOs) working to curb the use of tobacco in Pakistan.

Published 23 Feb, 2020 12:00am

PBC demands Farogh Naseem's resignation

The Pakistan Bar Council (PBC) has demanded an immediate removal of Federal Minister for Law and Justice Farogh Naseem from the cabinet In a statement issued by the PBC, the bar also appreciated Anwar Mansoor Khan's unconditional apology and resignation.

Published 23 Feb, 2020 12:00am

Business & Economy

Pakistan Auto Show hosts symposium on industry's future

The Pakistan Auto Show continued on the second consecutive day at the Lahore Expo Centre on Saturday with a symposium on "Future of Automotive Industry" as the highlight.

Published 23 Feb, 2020 12:00am

MIPD holds annual TDC-2020

Millennium Institute of Professional Development (MIPD) launched annual Teacher Development Conference TDC 2020 at Pakistan China Friendship Center, said a press release issued on Saturday.

Published 23 Feb, 2020 12:00am

Energy

Nepra 'Energy Week' to kick off tomorrow

The National Electric and Power Regulatory Authority (Nepra) is organizing Energy Week 2020 from February 24 to 28 to look into the challenges and to suggest way forward for the power sector of Pakistan. Sessions regarding China Pakistan Economic Corridor

Updated 23 Feb, 2020 11:23pm

MIPD launches Teacher Development Conference

Millennium Institute of Professional Development-MIPD Saturday launched Pakistan's largest Annual Teacher Development Conference-TDC 2020 providing learning opportunities to around 1000 teachers under one platform.

Published 23 Feb, 2020 12:00am

Justice Qazi Faez Isa's case: Synopsis of submissions filed by lawyers

"Justice Qazi Faez Isa's wife's assets, unlike many prominent persons in Pakistan including the incumbent prime minister, have never been owned through an offshore company or a blind trust registered in Panama, Cayman Islands, Isle of Man, Jersey or any o

Published 23 Feb, 2020 12:00am

SC to hear Khawaja brothers' bail plea on February 24

The Supreme Court of Pakistan to take up plea seeking bail of former Railways minister Khawaja Saad Rafique and his brother Salman Rafique on February 24.

Published 23 Feb, 2020 12:00am

Global Business Economy

EU budget summit ends with no deal

An EU summit called to set the bloc's next seven-year budget ended in impasse late Friday, riven by competing groups among the 27 member states and pressure to fill a funding gap left by Brexit. Differences were "still too great to reach an agreement," Ge

Published 23 Feb, 2020 12:00am

Global Business Economy

Buffett defends stock investments, which fueled record Berkshire profit

Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc's decision to invest heavily in stocks of companies such as Apple Inc as he labors through a four-year drought since his last major acquisition of a company.

Published 23 Feb, 2020 12:00am

Energy

Coronavirus to drag oil below $60 this year, weighing on Gulf exporters: IIF

The coronavirus outbreak may curb demand for oil in China and other Asian countries, depressing oil prices further to as low as $57 a barrel and clouding growth prospects across the Middle East, the Institute of International Finance (IIF) said.

Published 23 Feb, 2020 12:00am

Money & Banking

S&P cuts Lebanon debt rating

Credit ratings agency S&P lowered Lebanon's debt grade a notch on Friday, but warned a further cut is possible should the government miss a payment to creditors. S&P Global Ratings lowered the sovereign credit rating to CC from CCC with a negative outlook

Updated 23 Feb, 2020 11:24pm

France begins shutting down oldest nuclear plant

French state-owned energy giant EDF on Saturday began shutting down the country's oldest nuclear power plant after 43 years in operation. Environmentalists and anti-nuclear activists have long pushed the authorities to close down the plant but not everyon

Published 23 Feb, 2020 12:00am

Energy

Aramco says received approval for Jafurah gas field development

Saudi Aramco said on Saturday it had received regulatory approval to develop Saudi Arabia's Jafurah non-associated gas field and expects production to start in early 2024. It said output would reach around 2.2 billion cubic feet per day of sales gas by 20

Published 23 Feb, 2020 12:00am

Israeli forces kill suspect armed with knife: police

Israeli forces shot and killed a suspect in Jerusalem's annexed Old City Saturday after he approached officers posted near one of the gates armed with a knife, police said. "At approximately 11 am a terrorist approached border police officers at Lion's Ga

Published 23 Feb, 2020 12:00am

IT & Computers

Twitter suspends 70 pro-Bloomberg accounts for breaking rules

Twitter said Friday it suspended 70 accounts for spam-like posts supporting Democratic presidential hopeful Michael Bloomberg, whose campaign has hired hundreds of people to promote him on social media. "We have taken enforcement action on a group of acco

Published 23 Feb, 2020 12:00am

Iraqi Kurds rally against 'corruption' of ruling elite

Thousands of Iraqi Kurds Saturday rallied against poor public services and "corruption" among the ruling elite in their autonomous region, an AFP correspondent said. The rallies led by the New Generation movement, an opposition party, came amid ongoing pr

Published 23 Feb, 2020 12:00am

Japan says 23 passengers mistakenly left virus ship before testing

Around 100 more passengers were allowed to disembark from the coronavirus-stricken Diamond Princess cruise ship on Saturday as Japan's health minister apologised after 23 others were allowed to leave without being properly tested. The news came as a Japan

Published 23 Feb, 2020 12:00am

South Sudan rebel leader Machar sworn in as vice president

South Sudan rebel leader Riek Machar was sworn in as first vice president on Saturday, formally rejoining the government in the latest bid to bring peace to a nation ravaged by war. President Salva Kiir hailed the "official ending of war" and said peace w

Published 23 Feb, 2020 12:00am

UK to start issuing post-Brexit blue passports

Britain will issue blue passports next month for the first time in almost three decades following its departure from the European Union, the government said on Saturday. The new blue cover passports will be issued and delivered early next month, said the

Published 23 Feb, 2020 12:00am

Erdogan announces Syria summit for March 5

Turkish President Recep Tayyip Erdogan on Saturday said he would hold a summit with the leaders of Russia, France and Germany on March 5 to discuss the escalating violence in Syria's last rebel enclave of Idlib. The announcement comes a day after two Euro

Published 23 Feb, 2020 12:00am

Stocks

Deutsche Boerse posts 52 percent rise

Deutsche Boerse on Monday said it posted a 52% rise in fourth-quarter net profit, as the German exchange operator met its financial targets for the year. Consolidated net profit was 213.2 million euros ($231 million), compared with 140 million euros in th

Published 23 Feb, 2020 12:00am

Stocks

Green deal sprinkles stardust on European power stocks

Who said utilities shares were dull? In the past year European power company stocks have triggered a buying frenzy more akin to headline-grabbing US tech giants following the continent's "green deal" An EU target to cut carbon emissions to zero by 2050 a

Published 23 Feb, 2020 12:00am

Global Business Economy

Thai IPO tests waning market enthusiasm

A major initial public offering will test Thailand's waning enthusiasm for new listings. Shares in Central Retail, Thailand's largest retailer, opened flat on their debut on Thursday, matching its issue price of 42 baht per share. Strong cornerstone inves

Published 23 Feb, 2020 12:00am

Stocks

Foreigners turn net sellers of Japanese stocks

Foreign investors turned net sellers of Japanese equities in the week ended February 14 as sentiment took a hit because of weak domestic earnings and worries over the coronavirus outbreak. Overseas investors sold 95.17 billion yen ($853.54 million) worth

Published 23 Feb, 2020 12:00am

Energy

Saudi Aramco shares shed post-IPO gains as oil dives

Saudi Aramco shares have lost most of the gains they made since listing in December in a landmark first offering, as oil prices drop amid alarm over the new coronavirus. China's energy demand has sagged as authorities lock down millions of people to preve

Published 23 Feb, 2020 12:00am

Stocks

Brexit makes integrating EU capital markets more urgent: Commission

Britain's departure from the European Union has created an unprecedented sense of urgency for "full and unwavering" political backing to integrate the EU's capital market, a report said on Thursday. The EU began its capital markets union (CMU) project in

Published 23 Feb, 2020 12:00am

Stocks

Coronavirus fears, US business data drag down Wall Street

US stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike in new coronavirus cases and data showing a stall in US business activity in February fuelled investors' fears about economic growth.

Published 23 Feb, 2020 12:00am

Money & Banking

Loonie posts biggest gain since start of 2020

The Canadian dollar strengthened to a three-week high against its US counterpart on Friday as the greenback gave back some recent gains against a basket of other major currencies and a measure of domestic underlying retail sales rose in December.

Published 23 Feb, 2020 12:00am

Money & Banking

Speculators lift bullish bets on dollar to seven-week high

Speculators boosted their net long bets on the US dollar to a seven-week high in the latest week, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $14.7

Published 23 Feb, 2020 12:00am

Money & Banking

African currencies week ahead: Kenyan shilling under pressure, Uganda's to be stable

Kenya's shilling is expected be under pressure against the dollar in the next week, while Uganda's will be stable, traders said.

Published 23 Feb, 2020 12:00am

Money & Banking

Shopify to join Facebook-led Libra currency group

Canadian e-commerce company Shopify Inc said on Friday it would join Libra Association, a group that manages Facebook Inc led efforts to launch a global digital currency, Libra. "We will work collectively to build a payment network that makes money easier

Published 23 Feb, 2020 12:00am

Money & Banking

Asian FX sentiment weakens; bearish bets pile on Singapore dollar

Investors strengthened bearish positions on most Asian currencies, especially the Singapore dollar over the past two weeks, a Reuters poll showed, as the deepening economic impact of a deadly virus epidemic in China dampened risk appetite.

Published 23 Feb, 2020 12:00am

Money & Banking

Dollar falls broadly; yen catches a safety bid

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 and as investors fretted over the fast-spreading coronavirus.

Published 23 Feb, 2020 12:00am

Commodities

China approves imports of live poultry from US

China has approved the import of all poultry products from the United States, the Ministry of Agriculture and Rural Affairs said on its website on Monday, including breeding birds in addition to poultry meat approved late last year.

Published 23 Feb, 2020 12:00am

Cotton & Textile

Lethargic business seen on cotton market

Cotton prices failed to keep present levels on the cotton market on Saturday in the absence of fresh lead, dealers said. The official spot rate dropped by Rs 50 to Rs 9000, they added. In the ready session, not a single deal finalised till our going to th

Published 23 Feb, 2020 12:00am

Energy

European gasoline margins rise sharply

Northwest European gasoline refining margins rose steeply on Thursday as European and U.S stocks fell. Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell 3% to 1.1 million tonnes in the week

Published 23 Feb, 2020 12:00am

Energy

Asia's naphtha extends gains but gasoline falls

Asia's naphtha crack rose for the second day to reach a four-session high of $65.23 a tonne on Thursday, but gasoline crack fell to a two-session low of $6.68 a barrel with higher stockpiles seen. Singapore's onshore light distillates stocks, for instance

Published 23 Feb, 2020 12:00am

Football

Messi scores four as Barcelona rout Eibar

Lionel Messi scored four goals as Barcelona began a crunch week in their season by thrashing Eibar 5-0 in La Liga on Saturday.

Published 23 Feb, 2020 12:00am

Cricket

Hasaranga stars as Sri Lanka clinch ODI thriller

A late cameo by Wanindu Hasaranga helped Sri Lanka pull off a thrilling chase to edge out West Indies by one wicket in the first one-day international on Saturday.

Published 23 Feb, 2020 12:00am

Other

Punjab Governor fetes Pakistan's Kabaddi team

A reception was held at Governor House for National Kabaddi Team on becoming world champion first time in country's history.

Published 23 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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