News Archives for Print - 2020-02-24

Print - 2020-02-24

Money & Banking

Steady trend

The rupee managed to hold present levels in relation to the dollar as supply was matching with demand during the week, ended on February 22, 2020.

Published 24 Feb, 2020 12:00am

Stocks

Futures spread down by 159 basis points

The futures spread declined by 159bps to 6.55 percent on the last day of the outgoing week. Trading activities on the futures counter remained low as average daily volumes decreased by 37.0 percent to 48.34 million shares as compared to previous week's av

Published 24 Feb, 2020 12:00am

Stocks

Mixed trend witnessed

Pakistan Stock Exchange witnessed mixed trend during the outgoing week ended February 21, 2020. BRIndex100 gained 4.56 points on week-on-week basis to close at 4,209.41 points. Average daily trading volumes stood at 96.971 million shares.

Published 24 Feb, 2020 12:00am

PM launches mega project to revive forest

Prime Minister Imran Khan on Sunday while launching a gigantic project to revive decades old Kundian forest over 10,000 acres here directed Punjab Government to go tough on tree fellers. "The tree fellers are criminals. I ask Punjab government to treat th

Published 24 Feb, 2020 12:00am

Pensions, utilities & fuel liabilities: Railways facing around Rs 8 billion deficit

Pakistan Railways, despite getting a subsidy of Rs39 billion in the 2019-2020 budget, is facing a deficit of around Rs8 billion to meet its pensions, utilities and fuel liabilities. Sources revealed to the Business Recorder that fearing unrest due

Published 24 Feb, 2020 12:00am

Remittances through official channels: Overseas Pakistanis to be offered new incentives

The cash-hungry government is all set to announce incentives for Overseas Pakistanis to lure them to send remittances through official banking channels, well informed sources told Business Recorder. Prime Minister Imran Khan, who had appealed Overs

Published 24 Feb, 2020 12:00am

Pakistan's challenges greater than Egypt's: Credit Suisse

The key risk for investors would be an inability of the Pakistan Tehreek-e-Insaf (PTI) government to deliver on promised reforms and a renewed deterioration in fundamentals, as this would exert pressure on the PKR once again, says Credit Suisse, a Swiss f

Published 24 Feb, 2020 12:00am

Coronavirus is communist China's 'biggest health emergency': Xi

China's leader said Sunday the new-coronavirus epidemic is the communist country's largest-ever public health emergency, but other nations were also increasingly under pressure from the deadly outbreak's relentless global march.

Published 24 Feb, 2020 12:00am

Climate change gets first mention in G20 finance communique of Trump era

Finance officials from the world's 20 biggest economies (G20) on Sunday referenced climate change in their final communique for the first time in US President Donald Trump's administration, but stopped short of calling it a major risk to the economy.

Published 24 Feb, 2020 12:00am

Pakistan optimistic: Qureshi

Foreign Minister Makhdoom Shah Mahmood Qureshi on Sunday said Pakistan was hopeful for success of peace deal between United States (US) and Afghan Taliban which would be signed on February 29, in Doha. Talking to media persons here, he said Pakistan made

Published 24 Feb, 2020 12:00am

Mobile phone services restored as Afghan truce holds

Mobile phone services were restored across swathes of Taliban-contested areas of Afghanistan over the weekend as a partial truce with the militants held for a second day. The Taliban, US and Afghan forces are currently overseeing a week-long "reduction in

Published 24 Feb, 2020 12:00am

Trump says he would sign peace deal with Taliban

US President Donald Trump said Sunday he would sign a peace deal with the Taliban if one were eventually reached in Afghanistan. "Yes," he told reporters at the White House as he prepared to depart on a trip to India. "I would put my name on it."

Published 24 Feb, 2020 12:00am

Indian forces committing war crimes against women in IHK: PM

Prime Minister Imran Khan on Sunday urged the international community especially women to become the voice of Kashmiri women for peace in the occupied Muslim-majority region of India that has been under a military lockdown for the last nearly 200 days.

Published 24 Feb, 2020 12:00am

American daredevil dies in rocket launch

An amateur American astronaut who said he wanted to prove the Earth is flat has been killed in the crash of his homemade rocket in California, said the Science Channel, which filmed the launch.

Published 24 Feb, 2020 12:00am

Proposed revival plan of TSML: Centre facing 'ifs and buts' situation

The federal government is reportedly facing "ifs and buts" situation on the proposed revival plan of M/s Tuwairqi Steel Mills Limited(TSML) as there is clear division with the stakeholders with respect to supply of gas at subsidized rates and fiscal incen

Published 24 Feb, 2020 12:00am

'America First' vs 'Make in India' as Modi hosts Trump

Trade ties between the United States and India have long been problematic but under "America First" President Donald Trump and "Make in India" Prime Minister Narendra Modi, they have worsened. While eclipsed by his trade war with China, Trump's tussle wit

Published 24 Feb, 2020 12:00am

'Mysterious man' meets Nawaz

The meeting of a 'mysterious man' with former Prime Minister Nawaz Sharif at his London residence, Avenfield apartment, has raised eyebrows and scores of questions, reported a private TV news channel on Sunday. Pakistan Muslim League-Nawaz (PML-N) Preside

Published 24 Feb, 2020 12:00am

Sanders wins decisively in Nevada, Biden headed for second-place

Bernie Sanders strengthened his front-runner position for the Democratic presidential nomination with a decisive victory in the Nevada caucuses on Saturday, while Joe Biden was on track for a second-place finish that would give his struggling campaign new

Published 24 Feb, 2020 12:00am

Earthquake kills nine in Turkey, injures dozens in Iran

A magnitude 5.7 earthquake in northwestern Iran on Sunday killed nine people, including children, in neighbouring Turkey and injured dozens on both sides of the border, authorities said. Ambulances and teams of medics rushed to the scene after the quake l

Published 24 Feb, 2020 12:00am

Coronavirus outbreak: Government ready to deal with any eventuality

Special Assistant to the Prime Minister on National Health Services, Dr Zafar Mirza, said on Sunday that the government was ready to deal with any eventuality of COVID-19 (coronavirus) outbreak. Presiding over a meeting here on Sunday, he said that well-t

Published 24 Feb, 2020 12:00am

Israel team races in UAE cycling tour in sporting overture

An Israeli cycling team raced through Dubai on Sunday, taking part in the UAE Tour for the first time in the latest overture between the two countries, which have no diplomatic relations. Gulf Arab nations have made a number of recent moves hinting at war

Published 24 Feb, 2020 12:00am

Coronavirus threat: People barred from travelling to Iran

Balochistan government on Sunday banned movement of Pakistani passengers to Iran in a wake of coronavirus threat. According to details, over 100 passengers have been called back to Quetta from Taftan while the local government has also directed to establi

Published 24 Feb, 2020 12:00am

Letters

'Do not give me fish...'

Reaching out to people living below poverty line is a good government strategy. I'm sure that the government's Rs 15 billion Ehsaas programme will be a huge success story in future. Television broadcasts showing prime minister handing over a water buffalo

Published 24 Feb, 2020 12:00am

Articles

Virus hits shipping, spreading global economic strain

Sea freight transport, the lifeblood of trade and a bellwether of the global economy, has been blown off course by the new coronavirus, sparking general alarm. As analysts pore over charts to gauge just how badly Chinese mega-factories have been hit, figu

Published 24 Feb, 2020 12:00am

Articles

40 years of Pakistani hospitality

Welcome to the unwelcomed is the lost spirit of giving refuge to the displaced. Consider a lost soul- they are those who are runaways, those who are strangers, those who are unwanted, those who have no identity, those who have no houses, those who have no

Published 24 Feb, 2020 12:00am

Articles

Ideology versus technocracy

The debate on whether to employ a technocrat, with no party affiliations, over and above an ideologue, who supports the party's ideology, was never under serious debate on Pakistan's political scene - be they military adventurers or civilian governments.

Published 24 Feb, 2020 12:00am

Amoral medical practitioners

A high profile illegal organ transplant case, once again, spotlights how criminality survives in this society. A daughter of famous comedian Omar Sharif died last Monday following illegal kidney transplant carried out by a government hospital surgeon, Dr

Updated 24 Feb, 2020 06:50am

Growing fiscal risks

Ministry of Finance has released the mid-term budget review report for 2019-20 and identified six major fiscal risks facing the economy: (i) substantial revenue shortfall; (ii) unexpected volatility in exchange rate; (iii) losses and circular debt in the

Updated 24 Feb, 2020 06:31am

Business & Economy

TDAP awareness session on SMEs held in Sukkur

TDAP session was held on 20th February at Sukkur in collaboration with Sindh Chamber of Agriculture to provide initial awareness about provisions and facilities/services conferred by financial institutions to local SMEs of potential products.

Published 24 Feb, 2020 12:00am

Namal University convocation: PM urges youth to set roadmap for successful life

Prime Minister Imran Khan Sunday stressed upon the country's youth, especially students to clearly identify a roadmap of life with clear objectives to achieve their aims and always learn from the bitter lessons of life.

Published 24 Feb, 2020 12:00am

Two abducted sisters rescued, 3 kidnappers held

The police rescued two teenage sisters kidnapped some eight days earlier and arrested three abductors during separate raids here on Sunday. According to details, two real sisters Iqra 17, and Jasmine 14, hailing from Musa Colony went missing from Karimaba

Published 24 Feb, 2020 12:00am

Business & Economy

Survey shows 2019 year of endurance for Japanese companies in Pakistan

In August and September 2019, Japan External Trade Organization (JETRO) conducted its annual survey of business conditions of Japanese companies operating in Asia / Oceania. The Survey includes results from 19 countries and regions.

Published 24 Feb, 2020 12:00am

Federal government failing at all level: Sindh CM

Sindh Chief Minister Syed Murad Ali Shah has said that the federal government has failed at all level and its coalition parties were also not happy and even members of the government were giving tough time to Prime Minister. He was talking to media men at

Published 24 Feb, 2020 12:00am

Nehr-e-Khayam Park: Sindh government, PANI initiate tree plantation drive

Sindh Government and People & Nature Initiative (PANI), an NGO, initiated a tree plantation drive to inaugurate the development of Nehr-e-Khayam Park here on Sunday. To inaugurate the occasion, a tree plantation drive was conducted with the students of th

Published 24 Feb, 2020 12:00am

Minister deplores violations of minorities' rights in India

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan has expressed regret over violations of minorities' rights in India due to Hindutva policies pursued by the Modi-led regime.

Published 24 Feb, 2020 12:00am

Firdous lauds sacrifices of Kashmiri daughters for freedom

Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan said on Sunday that February 23 is the day to salute the daughters of Kashmir who sacrificed their husbands in the struggle for the freedom of Kashmir.

Published 24 Feb, 2020 12:00am

Business & Economy

Effective drugs for COVID-19 exported to China: report

Pakistan has effective drug for COVID-19, Over 300,000 pieces exported to China, an article published by Economic Daily, China Economic Net (CEN) on February 21st has got 5.71 million page views on Toutiao.com and 38,000 likes.

Published 24 Feb, 2020 12:00am

Business & Economy

Pakistan Auto Show 2020 successfully concludes

A three-day Pakistan Auto Show 2020 successfully concluded at the Expo Centre Lahore on Sunday with a turnout of over 100,000 visitors. The show, organized by the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), attracted a

Published 24 Feb, 2020 12:00am

Spring tree plantation campaign kicks off

On "Plant for Pakistan Day", Deputy Commissioner Muhammad Ali and parliamentarians Sh Khurram Shahzad and Shakil Shahid inaugurated the spring tree plantation campaign by plant a sapling at Chak no 155 Rb Panwa village at Canal Express Way.

Published 24 Feb, 2020 12:00am

Stocks

Awareness seminar on PSX held in Peshawar

The Sarhad Chamber of Commerce and Industry (SCCI) in collaboration with Pakistan Stock Exchange (PSX) Islamabad region organized a seminar to create awareness among investors regarding the PSX at the chamber house.

Published 24 Feb, 2020 12:00am

Prices of essential commodities witness mixed trend

Mixed trend in prices of essential food commodities, like vegetable, pulses, live chicken/meat, sugar, flour and other was witnessed in retail market, according to a survey carried out by Business Recorder here on Sunday.

Published 24 Feb, 2020 12:00am

JI's anti-inflation campaign begins

Chief of Jamaat-e-Islami Senator Siraj has demanded the government annul all anti-poor agreement with the IMF and immediately announce decrease in prices of essential food items. According to the media cell of JI at Mansoora, he was addressing a large cro

Published 24 Feb, 2020 12:00am

IG Kaleem acting as PTI district president: PPP leader

Deputy Secretary Information Pakistan Peoples Party Palwasha Khan has said that Sindh IG Syed Kaleem Imam has exposed himself by writing a letter to the Chief Election Commissioner asking him the transfer of Superintendent and Deputy Commissioner Umarkot.

Published 24 Feb, 2020 12:00am

Business & Economy

Mian Mansha-led businessmen delegation meets Alvi

An exclusive dinner reception was hosted by Chairman Nishat Group Mian Mohammad Mansha for President Dr Arif Alvi, First Lady Samina Alvi and Lahore based business families. On the occasion, businessmen met the President and exchanged views on the prevail

Published 24 Feb, 2020 12:00am

'Pakistan has potential to develop aquaculture on industrial scale'

Omar Hayat, a renowned expert on fisheries and aquaculture of Pakistan, has called for extending support to fisheries sector to enhancement their productivity and income to generate employment opportunities in rural areas of the country.

Published 24 Feb, 2020 12:00am

Business & Economy

Advanced skills scholarships: Revised PC-I submitted to CDWP for approval

The revised PC-I of the project `Advanced Skills Development through International Scholarships- Phase I' has been submitted to Central Working Development Party (CDWP) for approval after the changes suggested by Planning Division.

Published 24 Feb, 2020 12:00am

COAS visits Morocco, meets key personalities

Chief of the Army Staff (COAS) General Qamar Javed Bajwa on Sunday met Abdellatif Loudiyi, Minister Delegate to the Head of Government in Charge of the Administration of National Defence and General Abdelfattah Lourak, Inspector General of Royal Armed For

Published 24 Feb, 2020 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: Prices remain stable

The prices of cotton remained stable. There are two major threats to the cotton crop for the next season. The germination process of seeds is alarmingly low. Emergency should be imposed to control Locust swarm. India, Vietnam, Bangladesh are taking advant

Published 24 Feb, 2020 12:00am

Buzdar to lay foundation stone of Mother & Child Hospital today

Punjab Chief Minister Usman Buzdar will lay the foundation stone of Mother & Child Hospital Project in Sir Ganga Ram Hospital on Monday (today). According to information, the 600-bed hospital will be set up with an estimated cost of Rs7 billion. Four bill

Published 24 Feb, 2020 12:00am

UVAS Alumni Association's newly elected office-bearers

The Alumni Association of the University of Veterinary and Animal Sciences (UVAS) arranged its 11th annual reunion and elected new office-bearers for two years. Former principal of the College of Veterinary Science (CVS) Lahore Prof Dr Sagheer Ahmad Jafri

Published 24 Feb, 2020 12:00am

Business & Economy

Government urged to slash taxes on furniture industry

Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry have called upon the government to reduce taxes on furniture industry in the forthcoming budget that would facilitate its better growth and enhance exports. He said this while ad

Published 24 Feb, 2020 12:00am

Business & Economy

AGP detects losses of Rs 3.384 billion in KP Energy & Power Department

The Auditor General of Pakistan (AGP) has detected two cases of the non-recovery of a huge amount of Rs.3384.794 million in the accounts of the Energy and Power Department of Khyber Pakhtunkhwa, says AGP Audit Year 2016-17.

Published 24 Feb, 2020 12:00am

'Over 150,000 medical professionals to be hired for UK'

A Pakistani employment recruitment agency will hire services of a large number of healths professional for their placement in Britain, under an agreement, signed with the MMC Healthcare Limited, UK recently. AFCO-Private Limited, Pakistan recently signed

Published 24 Feb, 2020 12:00am

Evaluation of 10BTT: MoCC to install GPS for better monitoring: minister

Minister of State for Climate Change Zartaj Gul has said the ministry of climate change was working out to install global position system (GPS) for effective monitoring and evaluation of 10 Billion Tree Tsunami (10BTT) plantation programme.

Published 24 Feb, 2020 12:00am

PFA seals two dairy units, ice factory

The Punjab Food Authority (PFA) has disposed of 15,000 liters substandard milk after sealing three food businesses including two dairy units and an ice factory while carrying out a grand operation to control the supply of adulterated milk in Punjab.

Published 24 Feb, 2020 12:00am

COMSATS meeting planned for March 2

Over 50 top scientists belonging to 21 countries are reaching Karachi to participate in the 23rd meeting of the Coordinating Council of the Commission on Science and Technology for Sustainable Development in the South (COMSATS) being held in conjunction w

Published 24 Feb, 2020 12:00am

Brief Recordings

'Reckitt Benckiser Pakistan will invest more in local production' an Interview with Kashan Hasan, CEO Reckitt Benckiser

Kashan has been associated with Reckitt Benckiser (RB), a global leader in consumer health and hygiene, for the last 12 years, serving in various successful leadership roles across the globe in Pakistan, UK, South Africa, Egypt and the Middle East. In his

Updated 24 Feb, 2020 04:04am

Four Mali soldiers killed in suspected jihadist attack

Four Mali soldiers were killed and eight wounded Sunday in a suspected jihadist attack on an army camp in the far north of the country, the Malian military said.

Published 24 Feb, 2020 12:00am

AQAP confirms death of leader, appoints successor

Al-Qaeda in the Arabian Peninsula on Sunday confirmed the death of its leader Qassim al-Rimi and appointed a successor, the SITE monitor said, weeks after the US said it had "eliminated" him. The announcement came in an audio speech delivered by AQAP reli

Published 24 Feb, 2020 12:00am

Third death from Japan cruise ship

A third person from a coronavirus-stricken cruise ship quarantined off Japan has died, the health ministry said Sunday, as new infections among former passengers emerged. Japan has been criticised in the face of mounting evidence that the quarantine impos

Published 24 Feb, 2020 12:00am

Iran's neighbours impose travel bans as coronavirus toll rises

Iran's confirmed death toll from the new coronavirus rose to eight on Sunday, the highest outside China, sending neighbouring countries scrambling to contain the outbreak. Turkey said it would "temporarily" shut its border with Iran, while Pakistan also s

Published 24 Feb, 2020 12:00am

Conservatives claim victory in Iran polls after record low turnout

Iran's conservatives claimed victory Sunday in a general election marked by the lowest turnout since the 1979 Islamic Revolution amid public anger against the government, an economic downturn and the disqualification of half the candidates.

Published 24 Feb, 2020 12:00am

Malaysia's Anwar says partners trying to bring down government

Malaysia's leader-in-waiting Anwar Ibrahim on Sunday denounced "betrayal" in his ruling coalition, saying that some partners were trying to bring down the government and form a new one. The comments came after senior figures from his coalition and opposit

Published 24 Feb, 2020 12:00am

Sandstorm forces closure of airports on Spain's Canary Islands

Airports on Spain's Canary Islands were closed again Sunday after a sandstorm hit the archipelago, airport authorities said. Air travel was first disrupted on the archipelago on Saturday after strong winds carrying red sand from the Sahara shrouded the to

Published 24 Feb, 2020 12:00am

Hamburg voters punish German right, Merkel party

Voters in German city-state Hamburg punished Chancellor Angela Merkel's crisis-racked conservatives and ejected the far right from parliament in a regional election Sunday, according to an exit poll. According to the Infratest exit poll, the biggest winne

Published 24 Feb, 2020 12:00am

Togo president's camp claims victory

Supporters of Togo President Faure Gnassingbe claimed Sunday that he had won re-election after his main challenger said he could stage an upset despite "revelations of fraud".

Published 24 Feb, 2020 12:00am

Saudi-led coalition says Yemen rebel depots hit in Sanaa

The Saudi-led coalition said it launched air raids Sunday targeting ballistic missile and drone depots in Yemen's capital of the Iran-backed Huthis, two days after the rebels fired missiles into the kingdom.

Published 24 Feb, 2020 12:00am

Rockets fired from Gaza after Palestinian killed

Palestinian militants in Gaza said they fired a barrage of rockets at Israel on Sunday, in a new flareup a week ahead of a general election in the Jewish state. The radical group Islamic Jihad said the strikes were in response to Israel's killing of one o

Published 24 Feb, 2020 12:00am

Money & Banking

Quality of corporate debt falls as bond stocks hit all-time high: OECD

The build-up of corporate bonds has hit unprecedented levels since the 2008 financial crisis and created a global stock of outstanding debt with a lower rating quality and higher payback requirements compared with past cycles, the OECD said.

Published 24 Feb, 2020 12:00am

Money & Banking

Options markets flash euro warnings after currency plunges

The euro's tumble below $1.08 for the first time in three years may be only the first milestone in its downward journey, with global newsflow, economic data and option market positioning all seemingly stacked against the single currency.

Published 24 Feb, 2020 12:00am

Money & Banking

Banks weigh on Saudi, Dubai as most major Gulf markets fall

Most major Gulf stock markets fell on Sunday, with Saudi Arabia hurt by losses in banking shares that outweighed gains in Saudi Aramco and Emirates NBD dragging the Dubai index lower.

Published 24 Feb, 2020 12:00am

Money & Banking

FX trading volumes total $1.772 trillion in January

Average daily foreign exchange trading volumes in January totalled $1.772 trillion, little changed on a year earlier but up 11% from December levels as the threat of a coronavirus in China helped stimulate more trading, CLS said on Thursday. CLS, a major

Published 24 Feb, 2020 12:00am

Money & Banking

Dollar favoured safe haven in Asia

The dollar was sucking up funds across Asia on Thursday after a steep and sudden slide in the Japanese yen called into question its safe haven status and spooked investors out of local assets. Everything from the Australian dollar to the Indian rupee were

Published 24 Feb, 2020 12:00am

Money & Banking

King dollar rules FX heap as virus threatens global growth

A powerful surge in the dollar threatens to magnify the pain for companies and nations already struggling with the economic fallout of the coronavirus. The US dollar index has jumped 3.5% this year, taking the greenback to its highest level since 2017 and

Published 24 Feb, 2020 12:00am

Money & Banking

New Chinese fund attracts $17 billion; trading undeterred by virus

A Chinese fund attracted about 120 billion yuan ($17.14 billion) of subscriptions on its first day, on Tuesday, 20 times the sales target, a source said, underscoring investor enthusiasm despite the coronavirus. The mutual fund, which can invest up to 95%

Published 24 Feb, 2020 12:00am

Money & Banking

Brazil FX to mark time around lows

Brazil's real is likely to trade around record lows in coming months while speculators watch for signs of progress in President Jair Bolsonaro's policy overhaul drive as lawmakers reconvene after the summer recess, a Reuters poll showed.

Published 24 Feb, 2020 12:00am

Money & Banking

More than 50 percent of LatAm fund managers cite China slowdown as major risk

Slowing economic growth and commodities demand in China is by far the biggest single worry among Latin American fund managers, who are now holding the largest cash position in their portfolios in two years, a Bank of America Merrill Lynch (BAML) survey sh

Published 24 Feb, 2020 12:00am

Stocks

Chinese AI firm Megvii to refile for Hong Kong IPO

Chinese artificial intelligence company Megvii Technology, which is on a US blacklist, plans to refile for a Hong Kong initial public offering after its current application lapses on Tuesday, two people with direct knowledge of the matter said.

Published 24 Feb, 2020 12:00am

Stocks

Wall Street week ahead: Fund managers look for value in high-priced consumer sector

Expectations that spending on items ranging from hotels to clothing will continue to rise have helped make consumer discretionary stocks the most expensive sector in the S&P 500. Now fund managers are looking for ways to profit without getting burned, if

Published 24 Feb, 2020 12:00am

Commodities

Egypt to launch bid for gold exploration in Eastern Desert

Egypt plans to launch an exploration round for gold in its Eastern Desert in the first half of March, an official at the mineral resources authority said on Sunday.

Published 24 Feb, 2020 12:00am

Money & Banking

UAE economy grows 2.9pc in 2019: central bank

The United Arab Emirates' economy grew at 2.9% year-on-year in 2019, up from 1.7% in 2018, a UAE central bank report said. The country's hydrocarbon sector grew at 7.6% in 2019, while the non-hydrocarbon sector expanded by 1.1%, the bank report said.

Published 24 Feb, 2020 12:00am

Money & Banking

If Lebanon needs financial aid, France will be there

France is ready to support Lebanon financially - bilaterally or multilaterally - its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with US-led efforts to counter Iran in the region.

Published 24 Feb, 2020 12:00am

Global Business Economy

Chinese restaurants starved for cash as virus hits industry

It is lunch time in Beijing, but the only diner in Cindy's Cafe is an employee having a staff meal - it has been closed for more than three weeks as China battles a deadly virus epidemic.

Published 24 Feb, 2020 12:00am

Money & Banking

Argentina agrees to IMF talks aimed at new financing program

Argentina and the IMF announced Saturday that they have agreed to start talks aimed at reaching a new financing agreement for the heavily indebted South American nation.

Published 24 Feb, 2020 12:00am

Global Business Economy

Fox and NBCUniversal to acquire streaming platforms

Media groups Fox Corp. and NBCUniversal are looking to buy ad-supported streaming platforms meant to lure customers who don't want to spend money on subscriptions, the Wall Street Journal reported Friday.

Published 24 Feb, 2020 12:00am

Global Business Economy

EU wants battery autonomy, but first it needs graphite

As Europe looks to declare its tech independence by becoming a leader in next-generation batteries, it will have to start by making its own graphite. The problem is, nearly all of it now comes from Asia, mainly China.

Published 24 Feb, 2020 12:00am

Global Business Economy

Britain considers looser fiscal rules for March 11 budget

Britain is considering relaxing rules on public spending at an upcoming budget on March 11, the Sunday Times reported citing unnamed sources.

Published 24 Feb, 2020 12:00am

Global Business Economy

UK takes swipe at 'indecisive' EU as trade talk rancour grows

Britain criticised the European Union on Sunday over the process of agreeing its negotiating mandate for post-Brexit trade talks, saying the bloc was "hamstrung by indecision and delay" because different members wanted different things.

Published 24 Feb, 2020 12:00am

Global Business Economy

BAE Systems predicts 2020 growth despite Saudi ban

Britain's BAE Systems forecast another year of growth in 2020, saying the company was well-placed to take advantage of increased defence spending that could help to offset any future impact from a German ban on arms exports to Saudi Arabia. Full-year resu

Published 24 Feb, 2020 12:00am

Global Business Economy

Coronavirus slams Adidas, Puma sales in China

German sportswear makers Adidas and Puma said Wednesday store closures in China because of the novel coronavirus outbreak had caused sales to plummet in recent weeks. "Our business activity in Greater China has been around 85 percent below the prior year

Published 24 Feb, 2020 12:00am

Global Business Economy

Unilever, 3M on list of firms eligible for China loans to ease coronavirus crisis

Shanghai has compiled a list of firms, including local units of multi-nationals Unilever PLC and 3M Co, as eligible for millions of dollars in subsidised loans to ease any blow from the coronavirus outbreak, according to bankers and documents seen by Reut

Published 24 Feb, 2020 12:00am

Money & Banking

Britain's Lloyds hit by bad deeds and bad debts

Britain's biggest domestic lender Lloyds Banking Group reported a 26 percent drop in annual profit on Thursday, hit by increasing bad debts and billions of pounds of customer compensation. Provisions to cover payouts to customers mis-sold payment protecti

Published 24 Feb, 2020 12:00am

Money & Banking

Switzerland's UBS starts new chapter with Dutch tech innovator as chief

UBS, the world's largest bank to the rich, named the head of ING as chief executive on Thursday, seeking to tap his tech knowledge after he transformed the Dutch lender into one of Europe's most successful online banks.

Published 24 Feb, 2020 12:00am

Global Business Economy

Maersk warns coronavirus outbreak to hit 2020 earnings

Shipping giant Maersk warned on Thursday that the coronavirus outbreak would weigh on earnings this year, compounding the woes of a container shipping industry already subdued by trade wars and an economic slowdown. Maersk, which reported a lower-than-exp

Published 24 Feb, 2020 12:00am

Global Business Economy

DP World returns to full state ownership, takes on $8.1 billion debt

Dubai is to take full control of port operator DP World in a deal with a $13.9 billion valuation that will help the company at the centre of the emirate's 2009 debt crisis to repay some of its borrowings.

Published 24 Feb, 2020 12:00am

Global Business Economy

Air France says coronavirus impact may climb above $200 million

Air France-KLM warned on Thursday of a 150 million to 200 million euro ($162 million to $216 million) hit to earnings by April as it contends with the China coronavirus epidemic's "brutal" impact on the airline industry. The Franco-Dutch group's shares fe

Published 24 Feb, 2020 12:00am

Stocks

J.P Morgan shakes up investment bank in leadership makeover

J.P Morgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters. The Wall Street b

Published 24 Feb, 2020 12:00am

US researchers use AI to develop powerful new antibiotic

In a first, US researchers have used artificial intelligence to identify a powerful new antibiotic capable of killing several drug-resistant bacteria. Antibiotics have been a cornerstone of modern medicine since the discovery of penicillin, but their effe

Published 24 Feb, 2020 12:00am

Global warming causing 'irreversible' mass melting in Antarctica: scientist

Global warming was leading to an "irreversible" mass melting of the Antarctic ice and purging carbon from the atmosphere was the only solution to slow the process, an Australian climate scientist told Reuters on Wednesday.

Published 24 Feb, 2020 12:00am

China says coronavirus vaccine trials to start around late April

China could start clinical trials for a potential vaccine for the novel coronavirus around late April, an official said on Friday. Public and private researchers around the world have been working to develop treatments and vaccines to combat the COVID-19

Published 24 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate

Stock	Volume

Item	Value
Petrol/Litre / Jan 1	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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