News Archives for Print - 2020-02-26

Print - 2020-02-26

Micro-pollution ravaging China, South Asia: study

Nearly 90 percent of the 200 cities beset by the world's highest levels of deadly micro-pollution are in China and India, with most of the rest in Pakistan and Indonesia, researchers reported Tuesday. Taking population into account, Bangladesh emerged as

Published 26 Feb, 2020 12:00am

Stocks

Blue chips lead PSX decline: BRIndex100 extends losses

A bearish trend continued on Pakistan Stock Exchange on the second day in a row due to selling in various sectors. BRIndex100 lost 31.96 points or 0.78 percent to close at 4,045.07 points Tuesday. BRIndex100 touched intraday high of 4,089.42 and intraday

Published 26 Feb, 2020 12:00am

Bail granted to Khaqan, Ahsan

The Islamabad High Court (IHC) on Tuesday granted bail to former prime minister Shahid Khaqan Abbasi and former interior minister Ahsan Iqbal in separate corruption cases. A division bench of IHC comprising Chief Justice Athar Minallah and Justice Lubna S

Published 26 Feb, 2020 12:00am

Punjab Cabinet declines extension in bail to Nawaz

The Punjab Cabinet, which met here on Tuesday with Chief Minister Sardar Usman Buzdar in the chair, has decided not to extend the bail of former prime minister Nawaz Sharif who is currently in London for medical treatment. Punjab Law Minister Raja Bashara

Published 26 Feb, 2020 12:00am

PML-N mending fences with the powers that be?

Speculation is rife in the federal capital that Pakistan Muslim League-Nawaz (PML-N) may emerge as an 'alternate' to the ruling Pakistan Tehreek-e-Insaf (PTI) following latter's arguably dismal performance during its past one and a half years in power.

Published 26 Feb, 2020 12:00am

Hosni Mubarak dead at 91

Egypt's former president Hosni Mubarak, who ruled for three decades before he was ousted amid the Arab Spring protests in 2011, died Tuesday at age 91.

Published 26 Feb, 2020 12:00am

FY20 revenue target: PM approached for reactivation of tax policy board

The National Assembly Standing Committee on Finance Chairman Faiz Ullah Kamoka has approached Prime Minister Imran Khan to immediately reactivate the policy board of the Federal Board of Revenue (FBR) to guide the tax authorities towards achieving the rev

Published 26 Feb, 2020 12:00am

MoF identifies reasons behind revenue shortfall

The Finance Ministry has identified unprecedented compression in imports, less consumption of petroleum products, decline in auto and auto parts sector, less growth in airline sector, overall economic slowdown, and very challenging and unprecedented reven

Published 26 Feb, 2020 12:00am

UK could lose $32 billion in EU exports without trade deal: UN

Britain could lose up to $32 billion annually in exports to the European Union if it fails to strike a trade deal with the bloc, UN economists said on Tuesday. The UN Conference on Trade, Investment and Development (UNCTAD) said the losses would be the eq

Published 26 Feb, 2020 12:00am

Proposed reduction in power tariffs: Energy ministry to brief PM about roadmap: Firdous

Energy Ministry will apprise Prime Minister Imran Khan on Wednesday (today) on long-term roadmap to bring down the prices of electricity for both domestic and commercial consumers by removing power sector challenges.

Published 26 Feb, 2020 12:00am

India, US cut defence deals worth $3 billion

India and the United States on Tuesday announced defence deals worth over 3 billion dollars and made progress on a comprehensive trade agreement. President Donald Trump held discussions with Prime Minister Narendra Modi in New Delhi on areas including coo

Published 26 Feb, 2020 12:00am

Trump reiterates offer to mediate on Kashmir

US President Donald Trump on Tuesday reiterated his earlier offer to mediate between India and Pakistan on Kashmir, adding that his relationship with the leaders of both the countries is strong, reported NDTV.

Published 26 Feb, 2020 12:00am

Riots in Delhi overshadow Trump visit

More than a dozen people have been killed and hundreds injured in clashes between opposing groups of protesters in New Delhi, hospital officials said on Tuesday, as riots overshadowed U.S. President Donald Trump's first visit to India.

Published 26 Feb, 2020 12:00am

Gulf states cut Iran links as coronavirus cases rise

Gulf countries announced new measures Tuesday to cut links with Iran to prevent coronavirus spreading after the confirmation of 20 new cases, all of them people returning from the Islamic republic. The United Arab Emirates suspended passenger and cargo fl

Published 26 Feb, 2020 12:00am

NA body takes ministry to task on exports, other matters

A meeting of the National Assembly's Standing Committee on Commerce on Tuesday expressed its annoyance over the performance of the Commerce Ministry with respect to exports, rampant smuggling and delay in appointment of a permanent chief executive officer

Published 26 Feb, 2020 12:00am

US-Taliban peace deal: Qatar invites Pakistan to signing ceremony

Qatar has formally invited Pakistan to the signing ceremony of a peace deal between the United States and the Afghan Taliban scheduled for November 29, 2020, aimed at ending the 18 years long Afghan conflict.

Published 26 Feb, 2020 12:00am

US slams 'new curbs' on social media

The United States said on Tuesday that the "new restrictions" on social media platforms in Pakistan could be a "setback to freedom of expression and development of digital economy".

Published 26 Feb, 2020 12:00am

'Naya Pakistan' not possible without 'new Karachi': Umar

Minister for Planning, Development and Special Initiative Asad Umar Tuesday said that fulfilling the dream of Naya Pakistan was not possible without remodelling of Karachi. "Inshallah New Karachi will be built and Naya Pakistan will also be built," he sai

Published 26 Feb, 2020 12:00am

SME Bank, Pakistan Reinsurance: Sell-offs to be completed in two months, CCoP told

A meeting of the Cabinet Committee on Privatisation (CCoP) was informed Tuesday that privatisation of SME Bank Limited and Pak Reinsurance Co Ltd (up to 20 percent divestment) would be completed within two months.

Published 26 Feb, 2020 12:00am

Ex-Karachi Nazim Naimatullah dies

Former Karachi Nazim, Naimatullah Khan, known to be the architect of the Tameer-e-Karachi programme, passed away on Tuesday after a prolonged illness. He was 90.

Published 26 Feb, 2020 12:00am

Letters

Bilawal's 'forecast'

Pakistan People's Party chairman Bilawal Bhutto Zardari has made an interesting forecast: "PTI government will be over in 6 months". According to him, Nawaz Sharif was also a 'selected' prime minister like Imran Khan. In this regard, he has also said the

Published 26 Feb, 2020 12:00am

Articles

Coronavirus fears loom over giant US toy show

There is no China Pavilion at this year's Toy Fair owing to the new coronavirus outbreak, and the travails of the world's second-biggest economy hang over the giant trade show. Output in China - by far the world's biggest maker of toys - has slowed to a t

Published 26 Feb, 2020 12:00am

Articles

Retrieving untaxed/ill-gotten assets - II

A breakthrough was made by media showing that investment in Dubai alone by Pakistanis during the past 10 years was in billions, yet instead of taking actions against the offenders, the government of PTI also extended asset whitening scheme, the details of

Published 26 Feb, 2020 12:00am

Articles

Tax challenges of digital economy

Pakistan is too small player - in fact, an insignificant player in the new global game called digital economy, advancing fast in the wake of fourth industrial revolution (4IR). Therefore, instead of rushing thoughtlessly into a world that is being trodden

Published 26 Feb, 2020 12:00am

The coronavirus spectre

China's national figure for new coronavirus infection had fallen for the third consecutive day on Wednesday. Foreign Minister Wang Yi was cautiously optimistic as he said: "Results show that our control efforts are working". But that doesn't seem to be th

Updated 26 Feb, 2020 08:13am

Drop in C/A deficit

The news on the external sector of the economy continues to be encouraging. According to the latest data released by the State Bank of Pakistan, current account (C/A) deficit of the country has nosedived to dollar 2.654 billion during July-January of the

Updated 26 Feb, 2020 08:13am

Need for setting up virology labs in provincial capitals stressed

Speakers at the Pakistan Healthcare conference highlighted the need to establish virology laboratories in provincial capitals of the country to counter the threats of deadly novel viruses.

Published 26 Feb, 2020 12:00am

Sharjeel Memon indicted in liquor recovery case

Pakistan People's Party (PPP) leader Sharjeel Memon along with four accused on Tuesday were indicted in recovery of liquor bottles case. The PPP leader, his three servants - Shakar Din, Mushtaque Ali and Muhammad Jam-, Central Jail, Karachi assistant supe

Published 26 Feb, 2020 12:00am

Abbasi, Iqbal granted bail: NAB decides to move SC against IHC's order

The National Accountability Bureau (NAB) has decided to approach the Supreme Court against the order of the Islamabad High Court (IHC) that granted bail to former prime minister Shahid Khaqan Abbasi and the former interior minister Ahsan Iqbal on Tuesday.

Published 26 Feb, 2020 12:00am

Saudi Arabia introduces one-year multiple entry visit visa

Saudi Arabia has introduced one-year multiple entry visit visa for Pakistanis who have a valid UK, US or Schengen visa stamped on their passports.

Published 26 Feb, 2020 12:00am

SC Registrar directed to fix Musharraf's petition in open court

Justice Umar Ata Bandial on Tuesday directed the Supreme Court Registrar Office to fix General Pervez Musharraf's (retd) petition about Special Court judgment in the open court.

Published 26 Feb, 2020 12:00am

LG elections: ECP asks Punjab CS to provide required data

The Election Commission of Pakistan (ECP) on Tuesday expressed concern over non-provision of relevant data for the local government elections in Punjab by the provincial government, and has asked the provincial chief secretary to immediately provide the r

Published 26 Feb, 2020 12:00am

Business & Economy

Engro wins UNGC award for second year in a row

In recognition of promoting UNGC Principles and Sustainable Development Goals, Engro Corporation has won the first prize for "Living the UN Global Compact Business Sustainability Award 2019 in the Large National Category, for the second year in a row. The

Published 26 Feb, 2020 12:00am

Vegetables' cultivation through sewage: SHC issues notices to DCs, KWSB chief

Sindh High Court (SHC) on Tuesday issued notices to deputy commissioners of all districts of Karachi Division and Managing Director (MD) Karachi Water & Sewerage Board (KW&SB) in a petition pertaining to use of sewer water for growing the vegetables in me

Published 26 Feb, 2020 12:00am

Japanese CG celebrates Emperor Naruhito's 60th birth anniversary

To celebrate the 60th birthday of Japanese Emperor Naruhito, Consul General of Japan in Karachi, Isomura Toshikazu, hosted a grand reception at a local hotel on Tuesday.

Published 26 Feb, 2020 12:00am

Business & Economy

Government fails to pay GST refunds under 'FASTER': FPCCI chief

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar Tuesday said that the number of sales tax refund cases risen considerably after the imposition of 17 percent sales tax on domestic supply chain of five leading exp

Published 26 Feb, 2020 12:00am

Gold down by Rs 1150

Gold on Tuesday receded to Rs 95,150 per tola, down by Rs 1150 on the local market, traders said. The yellow metal is now available for Rs 81,576 per 10 grams, down by Rs 986 and $1655 an ounce, down by $29. Silver was selling for Rs 1050 per tola, down b

Published 26 Feb, 2020 12:00am

Business & Economy

'Vast prospects exist to increase Pak-Iran trade volume'

Leader of Iranian trade delegation and Chairman Tehran Chamber of Commerce & Industry (TCCI), Masoud Khansari has said vast prospect exists to increase trade volume of Iran and Pakistan to US 13 billion dollars.

Published 26 Feb, 2020 12:00am

MOL Pakistan holds four free eye camps in TAL Block

MOL Pakistan Oil & Gas Company in collaboration with Al-Shifa Eye Trust Hospital Kohat organized four eye camps in different villages of TAL Block of the Khyber Pakhtunkhwa. The eye camps organized on the request of the local elders benefited more than 2,

Published 26 Feb, 2020 12:00am

NDMA, RAHNUMA-FPAP sign MoU

National Disaster Management Authority (NDMA) has signed a Memorandum of Understanding (MoU) with RAHNUMA-Family Planning Association of Pakistan (FPAP) on Tuesday. Lt Gen Muhammad Afzal, Chairman NDMA, and Syed Kamal Shah, CEO, RAHNUMA-FPAP, signed the M

Published 26 Feb, 2020 12:00am

Business & Economy

Government urged to promote Banarsi products

"The high-quality and delicate handmade banarsi work, which though being done at a smaller scale in Orangi market, cannot be compared with other similar products being manufactured in India but unfortunately the Pakistani made banarsi products are unable

Published 26 Feb, 2020 12:00am

Taxes

Sindh mines, mineral sector: Over Rs 84 billion revenue leakage identified: FBR

The Directorate of Intelligence & Investigation (Inland Revenue), Karachi has identified over Rs 84 billion revenue leakage only in Sindh mines and mineral sector.

Published 26 Feb, 2020 12:00am

44 water supply schemes rehabilitated in Swat, Buner

The Provincial Disaster Management Authority (PDMA) has rehabilitated 44 projects in Buner and Swat districts. Official sources in the PDMA informed Tuesday that the project would benefit as many as 28,000 families of remote areas of the two districts.

Published 26 Feb, 2020 12:00am

Money & Banking

'SBP to incentivise global payment gateways'

The State Bank of Pakistan (SBP) will incentivise international payment gateways to promote information technology sector exports, freelancing, and the digital economy. "The SBP is already offering incentives, while more are in the pipeline to facilitate

Published 26 Feb, 2020 12:00am

PM wants his pictures removed from utility stores

Prime Minister (PM) Imran Khan on Tuesday directed immediate removal of his pictures from the utility stores. Showing his resentment over installation of his portraits outside the utility stores, PM Imran Khan said his motive was only to serve the masses

Published 26 Feb, 2020 12:00am

Energy

Power policies: Frequent changes shatters investors' confidence: expert

Power experts said on Tuesday that cumbersome government procedures and slow processing of tariff determination by Nepra are key challenges in development of new projects.

Published 26 Feb, 2020 12:00am

China keen to upgrade Pakistan agriculture: envoy

Excellency, Yao Jing, Chinese Ambassador has met with Dr Muhammad Azeem Khan, PARC at PARC HQs, Islamabad. Detailed discussion was carried out about the investment of agriculture sector in Pakistan under CPEC. His Excellency suggested for further material

Published 26 Feb, 2020 12:00am

Taxes

Over 1,000 cartons of smuggled cigarettes set ablaze

The Chief Commissioner of Regional Tax Office, Sardar Ali Khwaja, said on Tuesday his department had a firm resolve to frustrate the movement of smuggled goods, and no obstacle would be accepted in achieving this objective.

Published 26 Feb, 2020 12:00am

US agriculture expert visits UAF

Dr Dilbagh Singh, agriculture expert from USA, on Tuesday, visited University of Agriculture Faisalabad and called on UAF experts to discuss the area of collaborations.

Published 26 Feb, 2020 12:00am

AkzoNobel sees new dawn rising with 2020 Color of the Year unveiled

Revealed to audience of architects, interior designers, culture connoisseurs and patrons in Punjab Public Library (Wazir Khan Baradari) - a historical site from the Mughal era located between NCA and Punjab Public library; the venue provided the perfect b

Published 26 Feb, 2020 12:00am

Seeks report from HEC: NA body takes notice of nepotism in public sector universities

The National Assembly Standing Committee on Federal Education and Professional Training on Tuesday took strict notice of financial, managerial issues, and political, nepotism-based inductions in public-sector universities.

Published 26 Feb, 2020 12:00am

Business & Economy

Uplift projects: NA panel approves Rs 1.93 billion budgetary proposals

The National Assembly Standing Committee on Cabinet Secretariat has approved Rs 1.93 billion budgetary proposals for the development projects of Poverty Alleviation and Social Safety Division, and the Pakistan Tourism Development Corporation (PTDC) for th

Published 26 Feb, 2020 12:00am

Taxes

Minister for recovery of Professional Tax

Sindh Minister for Excise and Taxation & Narcotics Control and Parliamentary Affairs Mukesh Kumar Chawla has said that departmental action will be taken against those officers who fail to achieve recovery of Professional Tax in their respective beats/ are

Published 26 Feb, 2020 12:00am

Explosive licences: Senate panel summons Interior minister, secretary

The Senate Standing Committee on Problems of Less Developed Areas on Tuesday expressed concern over "explosive licences being issued to unknown companies" in Balochistan, and summoned Interior Minister Ijaz Shah and Secretary Interior Yousaf Naseem Khokha

Published 26 Feb, 2020 12:00am

IHC irks over non-recovery of Multan's missing lawyer

The Islamabad High Court (IHC) on Tuesday expressed its annoyance over non-recovery of a missing lawyer, Muhammad Yafis Naveed, hailing from Multan.

Published 26 Feb, 2020 12:00am

Stocks

Disqualification order: SECP delegates certain powers to HoD of Adjudication Department-II

The Securities and Exchange Commission of Pakistan (SECP) has delegated certain powers and functions of the commission to the Head of Department, Adjudication Department-II of Adjudication Division to pass disqualification order against a person to hold t

Published 26 Feb, 2020 12:00am

Business & Economy

Government urged to waive duty on basic feedstock for soaps

Chairman of Pakistan Soap Manufacturers Association (PSMA) Zafar Mahmood has urged the government to eliminate the unjustified 7% additional custom duty (ACD) on RBD Palm Stearin, which is a basic feedstock for toilet & laundry soaps.

Published 26 Feb, 2020 12:00am

Panel recommends Constitution (Amend) Bill, 2019

A parliamentary panel on Tuesday recommended the Constitution (Amendment) Bill, 2019 moved by Pakistan People's Party (PPP) MNA Dr Nafisa Shah for approval from the National Assembly. The National Assembly Standing Committee on Law and Justice held here h

Published 26 Feb, 2020 12:00am

Stocks

Government concurrence not required: PSCs' CEs to be appointed by BoD: SECP

The appointment of chief executive in a public-sector company, as and when acquired by Sarmaya-e-Pakistan Limited (SPL), shall be made by its board, for which the concurrence of the government shall not be required.

Published 26 Feb, 2020 12:00am

Musharraf case: SHCBA challenges LHC decision

The Sindh High Court Bar Association (SHCBA) on Tuesday challenged the Lahore High Court (LHC) decision to strike down notification of the special court, which awarded death sentence to General Pervez Musharraf (retd) in the high treason case.

Published 26 Feb, 2020 12:00am

Acquittal pleas in RPP case: NAB fails to submit reply before court

The National Accountability Bureau (NAB) on Tuesday failed to submit its reply before the Accountability Court regarding acquittal pleas filed by former prime minister Raja Pervaiz Ashraf and others in Karkey Rental Power Plant (RPP) case under the NAB Am

Published 26 Feb, 2020 12:00am

Pak-Iran border: Balochistan government to boost screening facilities

Balochistan government on Tuesday decided to further boost screening facility at the border with Iran amid coronavirus outbreak in the neighboring country. According to sources, the Balochistan government has decided to enhance the number of staff at the

Published 26 Feb, 2020 12:00am

Importance of Kashmir cannot be denied anymore: Qureshi

Foreign Minister Shah Mahmood Qureshi on Tuesday said that the importance of Kashmir could not be denied anymore, as the United States President, Donald Trump, reiterated his mediation offer on Kashmir in New Delhi.

Published 26 Feb, 2020 12:00am

Energy

Proposed increase in KE tariff: Power Division submits two options to ECC

Power Division has reportedly submitted two options to the Economic Coordination Committee (ECC) for an informed decision on proposed increase of Rs 4.87 per unit in KE tariff comprising 11 quarters determined by Nepra, well-informed sources in KE told <i

Published 26 Feb, 2020 12:00am

Taxes

Government urged to slash customs duties on import

The Pakistan FMCG Importers Association (PFIA) has urged the government to bring customs duties down on import to discourage the smuggling which is also hurting the genuine commercial importers.

Published 26 Feb, 2020 12:00am

LHC directs AGP to assist in Maryam's case

The Lahore High Court on Tuesday directed the Attorney General of Pakistan to assist the court on March 11 in response to a petition of Maryam Nawaz seeking one-time permission to travel abroad to inquire after her ailing father Nawaz Sharif.

Published 26 Feb, 2020 12:00am

Facilities in Punjab's 43 prisons automated by UNODC with INL funding

The United Nations Office on Drugs and Crime (UNODC) and the Bureau of International Narcotics and Law Enforcement (INL) jointly handed over the formal control and implementation of the Prison Management Information System (PMIS) to the Punjab Prisons Dep

Published 26 Feb, 2020 12:00am

Coronavirus threat: Punjab cabinet for effectively implementing precautionary steps

In the wake of situation arising out due to the presence of coronavirus in neighbouring countries, the Punjab Cabinet in its 26th meeting, held here on Tuesday with Chief Minister Punjab Sardar Usman Buzdar in the chair, decided to effectively implement n

Published 26 Feb, 2020 12:00am

Business & Economy

US's role as peace promoter in South Asia need of the hour: Iftikhar

Founder President of Pak-US Business Council Iftikhar Ali Malik, while welcoming US President Donald Trump's friendly gesture towards Pakistan during his speech at a rally in India, said the US role in South Asia had become more significant with respect t

Published 26 Feb, 2020 12:00am

Taxes

Restoration of zero-rating regime must for export-oriented sectors

Restoration of zero-rating regime for the export-oriented sectors is a must to overcome snags in refunds, inordinate delays in their payments and the liquidity crunch, said the export-oriented industrial circles.

Published 26 Feb, 2020 12:00am

IT & Computers

TPL Trakker partners with Eat Mubarak

TPL Trakker, a Pakistan's leading IoT company, on Tuesday partnered with Eat Mubarak, a local food delivery service, to power their app with TPL Maps, a business segment of TPL Trakker and Pakistan's first digital mapping service.

Published 26 Feb, 2020 12:00am

Business & Economy

Iran's envoy for promoting ties in different sectors

Ambassador of Iran Seyed Muhammad Ali Hosseini has said that Iran desires to further promote relations in different sectors with the Punjab government. With the promotion of cultural activities, relationships between the two countries will also enhance, h

Published 26 Feb, 2020 12:00am

20 eateries sealed across Punjab for violating rules

The Punjab Food Authority (PFA) carried out a crackdown against adulterated milk and disposed of 28,500 litres chemically contaminated milk by placing screening pickets at the entry and exit points of the provincial metropolis here on Tuesday.

Published 26 Feb, 2020 12:00am

Articles

Partly Facetious : Checkmate!

"The Khan has come up with a very effective governance measure to checkmate those with a personality disorder."

Published 26 Feb, 2020 12:00am

Fazl, Shahbaz discuss political situation

The Jamiat Ulema-e-Islam (JUI-F) Chief, Maulana Fazlur Rehman, on Tuesday talked to the leader of the opposition in the National Assembly Shahbaz Sharif over the phone to discuss the prevailing political situation and opposition's future line of action.

Published 26 Feb, 2020 12:00am

Stocks

IFRS 9 applicability date for Modarabas revised

The Securities and Exchange Commission of Pakistan (SECP) has announced that the effective date for applicability of International Financial Reporting Standard - Financial Instruments (IFRS 9) for Modaraba companies would be reporting period/year ending o

Published 26 Feb, 2020 12:00am

Taxes

In line with FATF's suggestions: FBR takes new steps to check money laundering

The Federal Board of Revenue (FBR) is in the process of implementing new measures to check money laundering in line with the recommendations of the Financial Action Task Force (FATF) including strict checking at airports and borders to control foreign cur

Published 26 Feb, 2020 12:00am

Brief Recordings

Wah Nobel Chemicals Limited

Wah Nobel Chemicals Limited (PSX: WAHN) was established in 1982 and is part of a larger business group of which Wah Nobel (Pvt) Limited is the parent company.

Updated 26 Feb, 2020 04:19am

World's oldest man dies in Japan at 112

A Japanese man recently named the world's oldest living male has died aged 112, a local official said Tuesday. Chitetsu Watanabe, who was born on March 5, 1907 in Niigata, north of Tokyo, died on Sunday at his nursing home in the same prefecture, the offi

Published 26 Feb, 2020 12:00am

China sentences Swedish bookseller Gui Minhai to 10 years' jail

China has sentenced Swedish book publisher Gui Minhai to 10 years in prison on charges of illegally providing intelligence abroad, and claimed him as a citizen, prompting Stockholm to call for his release in a case that has rattled diplomatic relations.

Published 26 Feb, 2020 12:00am

Saudi Arabia names new tourism, sports, investment ministries

Saudi Arabia announced on Tuesday the creation of three new ministries, for tourism, sports and investment, according to royal decrees that also unveiled a sweeping cabinet reshuffle. The shake-up, which saw the return of ousted former energy minister Kha

Published 26 Feb, 2020 12:00am

Last Soviet marshal and 1991 coup plotter Yazov dies

The last marshal of the Soviet Union Dmitry Yazov, who was a key player in the political turmoil that precipitated the collapse of the USSR, died in Moscow on Tuesday aged 95.

Published 26 Feb, 2020 12:00am

Saudi court sentences 8 for spying for Iran

A Saudi criminal court on Tuesday sentenced one citizen to death and seven others to jail on charges of treason and spying for the kingdom's arch-nemesis Iran, state television reported. The Saudi sentenced to death was accused of "betraying his country a

Published 26 Feb, 2020 12:00am

More virus deaths outside China raise pandemic fears

Fresh deaths and a surge in new coronavirus cases in Iran, Japan and South Korea on Tuesday fuelled fears of a pandemic as the disease took root in more countries.

Published 26 Feb, 2020 12:00am

Brexit talks turn sour as EU, UK clash

Britain and Brussels clashed Tuesday over upcoming Brexit talks, with London roundly rejecting key elements of the EU's negotiating platform, setting up an acrimonious start to negotiations next week.

Published 26 Feb, 2020 12:00am

Egocentric US is wrecking global arms control: Russia

The US is following an egocentric foreign policy that is leading to global arms control agreements being devalued, Russian Foreign Minister Sergei Lavrov said on Tuesday.

Published 26 Feb, 2020 12:00am

Commodities

CBOT corn futures fall on supply worries

Chicago Board of Trade corn futures fell for a fourth straight session and notched contract lows, pressured by forecasts for ample supplies of the grain and worries about the spread of coronavirus beyond China, traders said. Spillover weakness from tumbli

Published 26 Feb, 2020 12:00am

Commodities

Russian wheat prices decline after month-long slide

Russian wheat export prices registered a fourth consecutive weekly decline last week, dragged down by competition with other major exporters, but the pace of the fall has slowed, SovEcon agriculture consultancy said on Monday.

Published 26 Feb, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,191. The traded value of metals, energy and COTS/FX was recorded at PKR 12.867 billion and the number of lots traded was 16,380.

Published 26 Feb, 2020 12:00am

Commodities

EU wheat falls as jump in coronavirus cases outside China

European wheat fell on Monday following a slump on US markets and global financial markets as a jump in coronavirus cases outside China fuelled global growth worries. Benchmark May milling wheat on Paris-based Euronext, closed at 189.50 euros a tonne, dow

Published 26 Feb, 2020 12:00am

Energy

US natural gas futures fall on mild weather

US natural gas futures fell over 2% on Monday on forecasts for milder weather and lower heating demand over the next two weeks than previously expected. Front-month gas futures for March delivery on the New York Mercantile Exchange (NYMEX) fell 4.6 cents,

Published 26 Feb, 2020 12:00am

Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 123,083 tonnes of cargo comprising 57,540 tonnes of import cargo and 65,543 tonnes of export cargo including 4,692 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.

Published 26 Feb, 2020 12:00am

Cotton & Textile

Improved trading activity seen on cotton market

Volume of business went up on the cotton market on Tuesday as some leading mills indulged in panic buying following the uncertainties created by spread of coronavirus the world over, dealers said. The official spot rate maintained week-end level at Rs 900

Published 26 Feb, 2020 12:00am

Commodities

China's iron ore hits 1-1/2-month high

China's iron ore futures climbed to their highest in more than six weeks on Monday after data showed stockpiles of the steelmaking raw material at the country's ports declined for two consecutive weeks. Beijing's promise to step up policy support to count

Published 26 Feb, 2020 12:00am

Money & Banking

Turkish lira down again

Turkey's lira tumbled 0.7% on Tuesday, giving up earlier gains against the dollar, as investors fretted over the global spread of coronavirus and the quarantining of 132 people in Ankara who were aboard a flight from Iran. The lira stood at 6.1545 at 1050

Published 26 Feb, 2020 12:00am

Money & Banking

Dollar pauses gains in Asia

The dollar checked its march higher on Tuesday, as investors sharply raised bets that the growing fallout from the coronavirus outbreak would prompt US interest rate cuts. That helped to stay a steep slide in Asian currencies that has accompanied the viru

Published 26 Feb, 2020 12:00am

Money & Banking

Dollar weakens largely in Europe

The US dollar weakened on Tuesday as expectations grew that the Federal Reserve would cut interest rates this year to relieve pressure on the economy caused by China's coronavirus outbreak. The dollar rose last week to its highest in years as the virus sp

Published 26 Feb, 2020 12:00am

Money & Banking

Early trade in New York: Dollar falls as Fed rate cut expectations rise

The US dollar weakened on Tuesday as expectations grew that the Federal Reserve would cut interest rates this year to relieve pressure on the economy caused by China's coronavirus outbreak.

Published 26 Feb, 2020 12:00am

Money & Banking

Virus-driven risk-off move lifts yen in New York

The Japanese yen rose versus the US dollar on Monday in a risk-off move spurred by the rise in coronavirus cases. The safe-haven yen was last up 0.73% at 110.74 per dollar, having strengthened to 110.34 earlier in the day.

Published 26 Feb, 2020 12:00am

Money & Banking

Asian forex: most currencies regain footing

Most emerging Asian currencies firmed on Tuesday, clawing back some of the prior session's heavy losses, as growing US rate-cut expectations took some steam out of the dollar's recent run. Financial markets have ratcheted up bets that the Federal Reserve

Published 26 Feb, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 30	278.58
USD PKR Interbank Buying / Dec 30	278.43
USD to Japanese Yen / Dec 30	156.45
USD to Swiss Franc / Dec 30	0.90
Pound Sterling to USD / Dec 30	1.26
Euro to USD / Dec 30	1.04

Stock	Volume
S&P 500 / Dec 30	5,906.94
India Sensex / Dec 30	78,248.13
Tokyo Nikkei / Dec 30	39,894.54
Nasdaq / Dec 30	19,486.79
Hang Seng / Dec 30	20,111.38
FTSE 100 / Dec 30	8,121.01
Dow Jones / Dec 30	42,573.73
Germany DAX 30 / Dec 30	19,909.14

Item	Value
Crude Oil USD/Barrel / Dec 30	71.36
Karachi Cotton PKR/37.32 KG / Dec 30	17,785
Gold 10 Grams PKR / Dec 30	241,430.80
Gold Spot USD/Ounce / Dec 30	2,604.69
Cotton US¢/pound / Dec 30	68.76
Petrol/Litre / Dec 31	252.10

Gainers
Losers
Leaders

Stock	Price
Chenab Ltd (Pref) / Dec 31 Chenab Limited (Pref)(CLCPS)	4.85 ▲ 0.63 (14.93%)
Chenab Ltd / Dec 31 Chenab Limited(CHBL)	10.28 ▲ 1.00 (10.78%)
LSE Financial Serv. / Dec 31 LSE Financial Services Limited(LSEFSL)	15.70 ▲ 1.43 (10.02%)
Liven Pharma / Dec 31 Liven Pharma Limited(LIVEN)	150.54 ▲ 13.69 (10.00%)
Pak Paper Prod / Dec 31 Pakistan Paper Products Limited(PPP)	149.90 ▲ 13.63 (10.00%)
Suhail Jute / Dec 31 Suhail Jute Mills Limited(SUHJ)	131.86 ▲ 11.99 (10.00%)
Pak Stock Exchange / Dec 31 Pakistan Stock Exchange Limited(PSX)	27.75 ▲ 2.52 (9.99%)
Pak Gulf Leasing / Dec 31 Pak-Gulf Leasing Company Limited(PGLC)	21.04 ▲ 1.91 (9.98%)
Highnoon (Lab) / Dec 31 Highnoon Laboratories Limited(HINOON)	991 ▲ 89.60 (9.94%)

Stock	Price
National Silk / Dec 30 The National Silk & Rayon Mills Limited(NSRM)	49.90 ▼ -5.54 (-9.99%)
Olympia Mills / Dec 30 Olympia Mills Limited(OML)	36 ▼ -3.99 (-9.98%)
Maqbool Tex. / Dec 30 Maqbool Textile Mills Limited(MQTM)	28.50 ▼ -2.56 (-8.24%)
Shahzad Tex. / Dec 30 Shahzad Textile Mills Limited(SZTM)	27.50 ▼ -2.37 (-7.93%)
Al-Khair Gadoon / Dec 30 Al-Khair Gadoon Limited(AKGL)	38.50 ▼ -3.21 (-7.70%)
Dewan Textile / Dec 30 Dewan Textile Mills Limited(DWTM)	6.90 ▼ -0.56 (-7.51%)
Engro Poly(Pref / Dec 30 Engro Poly(Pref)(EPCLPS)	11.10 ▼ -0.90 (-7.50%)
Habib Sugar / Dec 30 Habib Sugar Mills Limited(HABSM)	79 ▼ -5.26 (-6.24%)
First Tri-Star Mod. / Dec 30 First Tri-Star Modaraba(FTSM)	14.35 ▼ -0.90 (-5.90%)

Stock	Volume
Cnergyico PK / Dec 31 Cnergyico PK Limited(CNERGY)	125,613,935 ▲ 0.16
WorldCall Telecom / Dec 31 Worldcall Telecom Limited(WTL)	111,551,930 ▲ 0.01
B.O.Punjab / Dec 31 The Bank of Punjab(BOP)	84,182,656 ▲ 0.08
Silk Bank Ltd / Dec 31 Silkbank Limited(SILK)	48,777,302 ▲ 0.02
K-Electric Ltd. / Dec 31 K-Electric Limited(KEL)	45,320,218 ▲ 0.07
Pak Elektron / Dec 31 Pak Elektron Limited(PAEL)	36,348,761 ▲ 1.08
Sui South Gas / Dec 31 Sui Southern Gas Company Limited(SSGC)	30,315,237 ▲ 0.25
Fauji Foods Ltd / Dec 31 Fauji Foods Limited(FFL)	29,105,477 ▲ 0.09
Telecard Limited / Dec 31 Telecard Limited(TELE)	26,616,811 ▲ 0.22

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