News Archives for Print - 2020-03-04

Print - 2020-03-04

Iran virus deaths now 77 as emergency services chief infected

Coronavirus has claimed 77 lives in Iran, officials said Tuesday, as the emergency services chief became the latest high-ranking official to be infected in the deadliest outbreak outside China. Iran has scrambled to halt the rapid spread of the virus, shu

Published 04 Mar, 2020 12:00am

Sindh orders purchase of 5,000 coronavirus kits

The Sindh cabinet has ordered purchase of 5,000 coronavirus testing kits and has released Rs 100 million for adopting preventive measures against the virus in emergency. Sindh Chief Minister Syed Murad Ali Shah said this while presiding over a cabinet mee

Updated 04 Mar, 2020 10:34am

G7 pledges to fight coronavirus: Fed cuts rates in emergency move

The US Federal Reserve cut interest rates on Tuesday in an emergency move to shield the world's largest economy from the impact of the coronavirus, as Group of Seven finance officials pledged unspecified "appropriate" policy moves. The Fed said it was cut

Updated 04 Mar, 2020 10:32am

Export-oriented sectors: ECC may approve power @ 7.5 cent

The Economic Coordination Committee (ECC) of the Cabinet which is scheduled to meet on Wednesday (today) is likely to approve provision of electricity to five export-oriented sectors at 7.5 cent all inclusive and the mechanism for Karachi Electric's (KE)

Published 04 Mar, 2020 12:00am

ECAP agrees to provide suspected customers' records to FBR

The Exchange Companies Association of Pakistan (ECAP) Tuesday assured the tax authorities of the Federal Board of Revenue (FBR) that record/details of their suspected customers would be provided to the FBR in cases of inquiry. The ECAP took up three major

Published 04 Mar, 2020 12:00am

Stocks

KSE-100 Index retreats: BRIndex100 flat

Pakistan Stock Exchange (PSX) Tuesday closed lower, weighed mainly by profit taking in select scrips across-the-board. BRIndex100 declined by 8.12 points or 0.2 percent to close at 4,094.56 points compared to previous 4,102.68 points. It touched intraday

Published 04 Mar, 2020 12:00am

Indian citizenship law: UN rights chief joins legal challenge

India defended its contentious citizenship law as an internal issue Tuesday as the UN rights chief sought to join efforts challenging the legislation in the country's highest court. The law, which makes it easier for religious minorities from three neighb

Published 04 Mar, 2020 12:00am

Used vehicles: FBR suffers Rs 22 billion revenue loss

The Federal Board of Revenue (FBR) has suffered massive revenue loss of Rs 22 billion from low tax collection on the import of old and used vehicles during July-January (2019-20) due to change in import policy for secondhand cars.

Published 04 Mar, 2020 12:00am

PAC informed: Rs 5.2 trillion revenue target may be revised further

Acting Chairperson Federal Board of Revenue (FBR) Nosheen Javed acknowledged that the revised tax collection target of Rs 5.2 trillion is likely to be revised further downward for 2019-20 keeping in view the estimated Rs 800 billion shortfall during the f

Published 04 Mar, 2020 12:00am

Fall in inflation raises prospects of policy rate cut

The State Bank of Pakistan (SBP) Governor, Reza Baqir, on Tuesday said that the bank was considering cutting down policy rate following a decline in inflation. While briefing a meeting of the Public Accounts Committee (PAC), which was held here under the

Published 04 Mar, 2020 12:00am

UK government urged to 'deport' Nawaz: Firdous

The Special Assistant to the Prime Minister, Dr Firdous Ashiq Awan, on Tuesday confirmed that the federal government had written a letter to the British authorities, requesting them to immediately deport former prime minister Nawaz Sharif to Pakistan.

Published 04 Mar, 2020 12:00am

Trump, Mullah Baradar speak by phone after accord

The Taliban's chief negotiator Mullah Baradar Akhund and US President Donald Trump held a 35-minute telephone call on Tuesday, a Taliban spokesman said, in what may be the first direct discussion between a US leader and a senior Taliban official. Trump co

Published 04 Mar, 2020 12:00am

Afghan leadership urged to take CBMs

Foreign Minister Shah Mahmood Qureshi Tuesday urged Afghan leadership to take confidence building measures including prisoners' swap for creating a favourable environment for intra-Afghan dialogue as per the peace agreement signed between the United State

Published 04 Mar, 2020 12:00am

Kashmir issue: OIC envoy puts his weight behind Pakistan

The Organisation of Islamic Cooperation (OIC) Secretary General's Special Envoy for Jammu and Kashmir, Ambassador Yousef M Al Dobeay, on Tuesday said the OIC and its members supported Pakistan's stance on Kashmir and the right to self determination of the

Published 04 Mar, 2020 12:00am

Clarification

Apropos a news item titled "NTDC accuses Nepra of violating law', published on Mach 3, 2020, the spokesman for National Transmission and Desptach Company Limited (NTDC) has clarified that "NTDC has filed a Review motion against Nepra's determination of N

Published 04 Mar, 2020 12:00am

AMCs allowed to invest in ETF units on behalf of CISs

The Securities and Exchange Commission of Pakistan (SECP) has allowed Asset Management Companies (AMCs) to invest in units of Exchange Traded Funds (ETF) on behalf of Collective Investment Schemes (CIS).

Published 04 Mar, 2020 12:00am

Social media rules taken off MoITT website following backlash

The government has reportedly suspended "Citizens Protection (Against Online Harm) Rules, 2020," following massive backlash from different segments of society, foreign social media companies as well as the United States, it is learnt.

Published 04 Mar, 2020 12:00am

Senate to take up wheat and wheat flour crises

The Upper House of the Parliament Tuesday decided to take up the issue of the recent wheat and flour crises in the Committee of the Whole, while the report of the Senate Standing Committee on National Food Security and Research primarily held the Sindh go

Published 04 Mar, 2020 12:00am

Application submitted to NAB chief

National Accountability Bureau (NAB) has been requested to expedite processing of complaint pending against the former Chief Operating Officer (ZTBL), Sheikh Amanulla. In an application to Chairman NAB Javed Iqbal, Advocate Aurangzaib Khan has stated that

Published 04 Mar, 2020 12:00am

Aurat March: All citizens have right of expression as per constitution: LHC

Lahore High Court Chief Justice Mamoon Rashid Sheikh on Tuesday observed that all citizens have the right to express their feelings or message but within the very limits of the Constitution and law and directed the deputy commissioner and DIG Operations L

Published 04 Mar, 2020 12:00am

Letters

Impediments to export growth - I

Increasing exporting is not as simple as pressing the accelerator of a car. There should be a willingness of our exporters to offer their products on competitive prices to attract the foreign importers to buy. The foreign importers are sated with supply o

Published 04 Mar, 2020 12:00am

Articles

'Shining India' - Sundowner

Sundowner is a hangover of the British Raj, it's a drink taken at sunset - along with the Caramel Custard and the Mulligatawni Soup. In the heyday of the Raj, the Brits and their local friends would meet at the various clubs, watch the sun set and enjoy t

Published 04 Mar, 2020 12:00am

Articles

Decline in China's exports: Opportunity for Pakistan's textile sector

Coronavirus cases continue to climb as the world watches. Today, China's economic relevancy in international economic footprint is much larger than before. According to UN Conference on Trade and Development by 2018, China is the exporter of 19% of total

Published 04 Mar, 2020 12:00am

Articles

Economic dividends of peace deal

There are still a number of 'ifs' and 'buts' to the peace agreement signed by the US and Afghan Taliban on Saturday last (February 29, 2020). It would certainly take a lot of doing for the 40-year long bloodbath to turn into permanent peace giving rise ul

Published 04 Mar, 2020 12:00am

Situation threatening to spiral out of control

Should there be a military clash between Pakistan and India it is most likely to culminate into a full-fledged nuclear war. Pakistan has been expressing this apprehension for quite some time, and it was repeated in most categorical terms on Thursday. Addr

Updated 04 Mar, 2020 06:28am

Gas sector shortcomings

On July 01, 2019, the first day of the fiscal year 2019-20, gas prices were raised by 198 percent, a prior action under the International Monetary Fund (IMF) programme as noted in the Letter of Intent (LoI) submitted by the economic team leaders Dr Hafeez

Updated 04 Mar, 2020 06:28am

15th graduation ceremony held at Amal Academy

Amal Academy, an education start-up founded out of Stanford University held their 15th graduation ceremony for over 1,080 university students on Tuesday, providing job opportunities to young graduates in collaboration with PepsiCo.

Published 04 Mar, 2020 12:00am

Afghanistan takes exception to FM's remarks

Afghanistan has lodged a formal protest with Pakistan over the remarks of Foreign Minister Shah Mahmood Qureshi, what Kabul described as an "irresponsible" statement about the "internal affairs of Afghanistan". The Afghan Ministry of Foreign Affairs in Ka

Published 04 Mar, 2020 12:00am

China provides Covid-19 testing kits, shares diagnostic, treatment plans

China has provided reagent testing kits to Pakistan, Japan, the African Union in wake of new coronavirus epidemic and shared diagnosis and treatment plans with many countries.

Published 04 Mar, 2020 12:00am

Workers Welfare Funds Act: SC seeks report from provinces, Islamabad district government

The Supreme Court on Tuesday directed all the provinces and the Islamabad district government to file detailed reports on how many factories were in their areas, and how many people were working in them, who were covered under the Workers Welfare Fund Act

Published 04 Mar, 2020 12:00am

Sindh government suspends 28 SBCA officials

The Sindh government on Tuesday suspended 28 officials including two directors of Sindh Building Control Authority (SBCA) over allegations of corruption and misappropriation. According to the notification issued by the Government of Sindh, local governmen

Published 04 Mar, 2020 12:00am

PM phones Erdogan, reaffirms support

Prime Minister Imran Khan called President Recep Tayyip Erdogan, Tuesday, and conveyed heartfelt sympathies and condolences on the loss of lives of a number of Turkish soldiers in the attack in Idlib. He stated that the people of Pakistan were in strong s

Published 04 Mar, 2020 12:00am

AC seeks Faryal's sources of income

The Accountability Court hearing multi-billion-rupee fake bank accounts case on Tuesday sought sources of income of former president Asif Ali Zardari's sister Faryal Talpur with respect to her plea to unfreeze her bank accounts.

Published 04 Mar, 2020 12:00am

PBC slams reported threats against organisers of Aurat March

The Pakistan Bar Council (PBC) strongly condemned the reported threats being made against organizers and participants of the Aurat March, 2020, that is scheduled to be held on the International Women's Day. The statement issued by the PBC secretary said t

Published 04 Mar, 2020 12:00am

IHC rejects PML-N pleas seeking disqualification of PTI MNAs

The Islamabad High Court (IHC) on Tuesday turned down the Pakistan Muslim League-Nawaz (PML-N) petitions to disqualify members of the National Assembly (MNAs) of the Pakistan Tehreek-e-Insaf (PTI) including Maleeka Ali Bokhari, Tashfeen Safdar, and Kanwal

Published 04 Mar, 2020 12:00am

Park Lane case: AC to indict Zardari, other accused on March 25

The Accountability Court hearing multi-billion-rupee fake bank accounts case on Tuesday fixed March 25 for the indictment of former president Asif Ali Zardari and other accused in the Park Lane case. The Accountability Court Judge, Azam Khan, while hearin

Published 04 Mar, 2020 12:00am

Coronavirus: 1,213 people are yet to be traced

The health department had sent eight samples of coronavirus suspects for lab test on Tuesday and fortunately six of them have been declared as negative while two results are being awaited.

Updated 04 Mar, 2020 10:57am

Seafood export surges by 17 percent in July-January

Pakistan's seafood export surged by 17 percent to US$253.145 million during July-January 2019-20, official figures say. Increase in seafood export now stands at US$35.89 million during July-January 2019-20 from US$217.255 million in July-January 2018-19,

Published 04 Mar, 2020 12:00am

Tenants of Muhammadi House demand resolution of issues

Tenants of Muhammadi House on I. I. Chundrigar Road have expressed deep concern over lack of basic infrastructural facilities which, according to them, is militating against the success of their entrepreneurial ventures. They have also complained that a n

Published 04 Mar, 2020 12:00am

Endowment Department: SHC orders finance secretary to ensure funds transfer in 15 days

Sindh High Court (SHC) has ordered Secretary Finance Sindh to transfer the allocated amount to the Endowment Department in 15 days. A single bench of SHC comprising Justice Salahuddin Panhwar issued these orders after Additional Secretary Finance submitt

Published 04 Mar, 2020 12:00am

Corruption virus has weakened country's foundation: Buzdar

Chief Minister Punjab Sardar Usman Buzdar has said that 'coronavirus' of corruption has weakened the country's foundations. "Elimination of corruption is the priority agenda of the incumbent government, as the people remain deprived of even the basic nec

Published 04 Mar, 2020 12:00am

Business & Economy

PBC calls for steps to boost exports

The Pakistan Business Council - a business advocacy body - has called for measures to boost exports, strengthen the basis of import substitution, and restore disposable incomes to trigger growth in line with its "Make-in-Pakistan" thrust.

Published 04 Mar, 2020 12:00am

Business & Economy

To overcome business challenges: Collective efforts need of the hour: KCCI chief

"We are going to face a lot of challenges in terms of doing business in future hence, we all have to stay united and make collective efforts to overcome all the ongoing and upcoming challenges," said President Karachi Chamber of Commerce & Industry (KCCI)

Published 04 Mar, 2020 12:00am

Women entrepreneurs; Telenor Pakistan, Facebook launch digital skills bootcamp

Telenor Pakistan in partnership with Facebook has launched digital skills bootcamp for women entrepreneurs, where 100 aspiring women entrepreneurs will be trained.

Published 04 Mar, 2020 12:00am

Orientation session for ZTBL's fresh officers held

Zarai Taraqiati Bank Limited is one of the specialized banks of the country that offers banking and agriculture financing services to the rural populous of the country which is operating through its vast network of 502 branches, regulated through 31 Zonal

Published 04 Mar, 2020 12:00am

Business & Economy

Import stands at $31.2 billion, export at $15.6 billion so far: Senate body told

The Senate Functional Committee on Problems of Less Developed Areas was informed that the total import of the country was $31.2 billion and export $15.6 billion in the ongoing financial year, which was the best performance in the last six years.

Published 04 Mar, 2020 12:00am

Brief Recordings

"Daraz to have 25 million users by 2022" - An interview with Ehsan Saya, Managing Director, Daraz Pakistan

A former investment banker, Ehsan Saya is the Managing Director at Daraz Pakistan. In 2018, Saya returned from Canada to join the leading e-commerce marketplace. In Toronto, he had also founded JoeyCo, a transportation and logistics company.

Updated 04 Mar, 2020 10:19am

Architecture's top prize awarded to two women

Dublin-based Yvonne Farrell and Shelley McNamara were awarded the Pritzker prize on Tuesday - the first time a female duo has scooped architecture's most prestigious award. They gained international fame for their blocky, brutalist-inspired structures, wh

Published 04 Mar, 2020 12:00am

At least 22 dead in Tennessee tornadoes

At least 22 people died as tornadoes ripped through Tennessee early Tuesday, destroying buildings and toppling power lines hours before the southern US state was to vote in Super Tuesday primaries, officials said.

Published 04 Mar, 2020 12:00am

Energy

Asia's naphtha and gasoline cracks extend gains

Asia's naphtha crack and gasoline cracks rose for a second straight session on Monday as refinery maintenance in the Middle East lent some support, industry sources said. The naphtha crack was up 1.9% to reach a four-session high of $59.50, while the gaso

Published 04 Mar, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,994. The traded value of Metals, Energy and COTS/FX was recorded at PKR 6.774 billion and the number of lots traded was 9,898. Major business was contributed by gold amoun

Published 04 Mar, 2020 12:00am

Commodities

EU wheat futures fall to 2-1/2-month low

European wheat futures fell again on Monday to a 2-1/2 month low as technical selling in Chicago wheat and a jump in the euro offset a wider rebound in financial markets following last week's rout. Benchmark May milling wheat on the Paris-based Euronext s

Published 04 Mar, 2020 12:00am

Energy

US natural gas futures up following oil prices higher

US natural gas futures on Monday rose along with oil futures, bouncing more than 3 percent despite forecasts for warmer US weather and lower demand for gas than previously expected. Front-month gas futures for April delivery on the New York Mercantile Exc

Published 04 Mar, 2020 12:00am

Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 118,915 tonnes of cargo comprising 88,885 tonnes of import cargo and 30,030 tonnes of export cargo including 8,811 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 88

Published 04 Mar, 2020 12:00am

Cotton & Textile

Sluggish business activity seen on cotton market

Trading activity failed to show any significant improvement on the cotton market on Tuesday despite the fact that the Pakistan Cotton Ginners' Association (PCGA) issued low seed cotton arrivals figure in its fortnightly report, dealers said.

Published 04 Mar, 2020 12:00am

Commodities

China's iron ore futures hit upside limit

China's iron ore futures hit the upside limit on Monday as declining stockpiles at ports indicated steel mills' improving appetite for the raw material, while expectations grew Beijing will roll out further support for its paralysed economy.

Published 04 Mar, 2020 12:00am

Money & Banking

Save-haven yen climbs in Asia

The safe-haven Japanese yen gained on the dollar on Tuesday, as the market tempered hopes for global monetary easing with worries about its scale and efficacy in combating the economic damage from the coronavirus outbreak. G7 finance ministers and central

Published 04 Mar, 2020 12:00am

Money & Banking

Yen, Swiss franc rise in Europe

The safe-haven Japanese yen and Swiss franc gained on the dollar on Tuesday, as investor hopes for global monetary easing were tempered by concern over how much it could do to combat the economic damage from the coronavirus outbreak. Global stocks and oil

Published 04 Mar, 2020 12:00am

Money & Banking

Early trade in New York: dollar falls across the board

The US dollar fell across the board after the US Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world's largest economy from the impact of the coronavirus. In a statement, the central bank said it was cutting rat

Published 04 Mar, 2020 12:00am

Money & Banking

Dollar dips to six-week low in NY

The US dollar slipped to a six-week low against a basket of currencies on Monday, as investors bet on the US Federal Reserve easing policy in a bid to counter the negative impact from the spread of the new coronavirus. The dollar index, which measures the

Published 04 Mar, 2020 12:00am

Money & Banking

Battered Turkish lira rebounds

The Turkish lira rallied 1.6% on Tuesday, briefly touching its strongest level in nearly three weeks, after the US Federal Reserve delivered an emergency interest-rate cut to cushion the economic blow from the coronavirus spread. The lira firmed to 6.065

Published 04 Mar, 2020 12:00am

Money & Banking

Asian FX gains wither as investors await G7 cues

Gains in most Asian currencies fizzled out on Monday, as hopes of a coordinated global approach to tackle the economic fallout from the coronavirus outbreak gave way to uncertainties over the details of any such action. With markets pinning hopes on a G7

Published 04 Mar, 2020 12:00am

Money & Banking

Sterling rallies against dollar after Fed rate cut

Sterling extended gains against the broadly weak dollar on Tuesday after a sudden rate cut by the US Federal Reserve in response to coronavirus damage, while investors bet Britain's central bank would follow suit. The US Fed stunned markets by cutting int

Published 04 Mar, 2020 12:00am

Money & Banking

Aussie bounces, kiwi steadies

The Australian dollar bounced on Tuesday after the country's central bank cut interest rates as part of a global burst of stimulus aimed at cushioning economies from the impact of the coronavirus. The Reserve Bank of Australia (RBA) cut the cash rate a qu

Published 04 Mar, 2020 12:00am

Other

UEFA could 'adapt' Financial Fair Play rules as Man City wait for ban appeal

UEFA is considering adapting its Financial Fair Play regulations, president Aleksander Ceferin said Tuesday, as Manchester City take their fight to overturn a ban from the Champions League for breaching the rules to the Court of Arbitration for Sport.

Published 04 Mar, 2020 12:00am

Other

PBG Risala win in National Polo Championship

The PBG Risala toppled ASC Polo Team by 7-4 in the Zameen National Open Polo Championship for Quaid-e-Azam Gold Cup 2020 match played here at Lahore Polo Club ground on Tuesday. Team work was witnessed from the PBG Risala as Hamza Mawaz Khan, Raheem Saqib

Published 04 Mar, 2020 12:00am

Other

Inter District Taekwondo Championship concludes

Special Assistant to Chief Minister Sindh Hammad N. D. Khan said Sindh Government has always scourged healthy activities. Particularly in the city-state of Quaid-e-Azam, the crime rate has gone up considerably during the last past years because there was

Published 04 Mar, 2020 12:00am

Other

Olympic chiefs prepare for 'successful' Tokyo 2020

The International Olympic Committee said Tuesday it was busy with preparations for a "successful" Summer Games in Tokyo in less than five months and at a time when the coronavirus outbreak is widening. IOC president Thomas Bach, speaking at the opening of

Published 04 Mar, 2020 12:00am

Cricket

South Africa to face Australia in women T20 World Cup semis as rain hits tournament

South Africa will face defending champions Australia in the women's Twenty20 World Cup semi-finals after their match against the West Indies was washed out Tuesday, leaving India to take on England. The Proteas needed to avoid defeat against the already-

Published 04 Mar, 2020 12:00am

Other

France rugby's 'Bison' Arnaud Marquesuzaa dies

Former France rugby union international Arnaud Marquesuzaa, known as "The Bison" for his uncompromising defence, has died. He was 85. Basque by birth, Marquesuzaa won three French titles with different clubs: Racing 92 in 1959, Lourdes in 1960 and Montaub

Published 04 Mar, 2020 12:00am

Other

Women's Tour continues with 2020 schedule

The Women's Tennis Association (WTA) has said it hopes to forge ahead with the remainder of the 2020 world tour despite widespread concerns over the coronavirus outbreak that has seen a host of sports events cancelled or postponed around the globe. The vi

Published 04 Mar, 2020 12:00am

Football

'No restrictions' for French football, rugby despite virus fears

Top-flight French football and rugby matches "are not subject to specific restrictions" and will continue to go ahead as planned despite concerns over the coronavirus, sports minister Roxana Maracineanu said Tuesday. Officials have reported 191 COVID-19 c

Published 04 Mar, 2020 12:00am

Stocks

Most Gulf indexes extend gains

Most bourses in the Middle East closed higher on Tuesday, with Saudi outperforming the region, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus. G7 finance ministers and central bank governors

Published 04 Mar, 2020 12:00am

Stocks

European shares rise

European shares jumped on Tuesday as investors bet on more moves by major central banks and governments to counter the economic blow from the coronavirus outbreak, helping major stock markets recover from a hammering in the past week.

Published 04 Mar, 2020 12:00am

Stocks

London stocks climb

London's bluechip index rose for a second day on Tuesday, as the US Federal Reserve cut interest rates to protect the US economy from the impact of the coronavirus, marking the central bank's first emergency rate cut since the financial crisis.

Published 04 Mar, 2020 12:00am

Stocks

Tuesday's early trade: Wall Street plummets

US stock markets fell sharply on Tuesday on worries that even a half percentage-point cut in interest rates might not be enough to stave off the economic impact of the coronavirus outbreak and halt the worst sell-off in more than a decade.

Published 04 Mar, 2020 12:00am

Stocks

Dow has biggest daily jump since 2009 as Wall Street buys the dip

The Dow Jones Industrial Average surged over 5% on Monday while the S&P 500 and Nasdaq each jumped more than 4% in a major rebound following last week's steep sell-off sparked by fears about the coronavirus.

Published 04 Mar, 2020 12:00am

Stocks

Southeast Asian stocks rebound

Southeast Asian stock markets rebounded on Tuesday, with Thailand posting its best session in at least three years, as expectations that central banks would step in to blunt the economic blow from the coronavirus epidemic spurred a risk rally.

Published 04 Mar, 2020 12:00am

Stocks

China stocks jump after coronavirus cases fall

China shares closed higher on Tuesday as new coronavirus cases in the country fell, while hopes of global policy action to limit the economic hit from the epidemic also aided sentiment.

Published 04 Mar, 2020 12:00am

Global Business Economy

Munich to host next IAA German car show

Munich will host the next edition of Germany's biggest car show IAA, its organiser VDA said Tuesday, as the industry scrambles to rebrand the fair after a poor showing in 2019. Frankfurt was home to the bi-annual show for almost seven decades, but last ye

Published 04 Mar, 2020 12:00am

Jack Welch, iconic General Electric CEO, dead at 84

Jack Welch, who built General Electric into a global industrial flagship and became one of America's best-known businessmen, died on Monday aged 84, the company said. Dubbed the "manager of the century," by Fortune magazine in 1999, Welch transformed GE i

Published 04 Mar, 2020 12:00am

Money & Banking

Malaysia cuts key rate to mitigate virus impact

Malaysia's central bank cut its key interest rate on Tuesday to the lowest in 10 years, to reduce the impact of the coronavirus oubreak on the country's exports and tourism. Bank Negara Malaysia (BNM) cut its overnight policy rate by 25 basis points to 2.

Published 04 Mar, 2020 12:00am

Money & Banking

Banks in Sudan to introduce Visa payment systems

Several banks in Sudan are introducing Visa payment systems as the country seeks to develop its financial sector following decades of isolation, a central bank official and the US financial services company said. Bank of Khartoum, Qatar National Bank and

Published 04 Mar, 2020 12:00am

Money & Banking

Australia cuts rates

Australia cut its benchmark interest rate to a record low on Tuesday, putting its central bank among the first in the world to ease policy to fight the economic fallout from the coronavirus. This was the fourth reduction by the Reserve Bank of Australia (

Published 04 Mar, 2020 12:00am

Commodities

China's Jingye to seal British Steel rescue next week

Chinese industrial giant Jingye Group on Tuesday said it would next week finally complete on its takeover of British Steel, including its Dutch operations - but not its small French unit. The announcement, which will preserve 3,200 jobs out of around 5,00

Published 04 Mar, 2020 12:00am

Global Business Economy

COVID-19 could put fifth of UK staff off work

Up to one fifth of employees could be off work in Britain when the coronavirus outbreak peaks, the government said Tuesday outlining a new action plan. Britain had 51 confirmed cases of COVID-19 as of 9:00 am (0900 GMT), an increase of 12 in 24 hours, as

Published 04 Mar, 2020 12:00am

Global Business Economy

Hand sanitiser sales rocket 255 percent in Britain

Sales of hand sanitiser in Britain have more than tripled as nervous customers sought to protect themselves from coronavirus, data showed Tuesday. Hand sanitiser sales surged 255 percent in the four weeks to 23 February compared with the same period a yea

Published 04 Mar, 2020 12:00am

Global Business Economy

Coronavirus could push airlines to merge: AF-KLM chief

The spread of the coronavirus could force weak airlines to merge with competitors, the head of Air France-KLM and the A4E association of European airlines said Tuesday. "There are quit a few weak carriers around the world," Benjamin Smith said at the asso

Updated 04 Mar, 2020 10:53am

Global Business Economy

Daimler targets 20 percent cut in European CO2 output for 2020

Mercedes-Benz parent company Daimler said Tuesday it aims to slash average carbon dioxide (CO2) emissions from new cars sold in Europe by 20 percent in 2020, as EU-wide limits bite. "This is a very big year for us and a year where we are taking electrific

Published 04 Mar, 2020 12:00am

Global Business Economy

Eurozone inflation down as ECB readies virus response

Eurozone inflation fell to 1.2 percent in February, official data showed Tuesday, as the European Central Bank said it was preparing to respond to the economic impact of the coronavirus. The drop from 1.4 percent in January means the rate is even further

Published 04 Mar, 2020 12:00am

Global Business Economy

Inflation's rise tests Turkish recovery in face of Syria conflict

Turkey's key inflation gauge rose for a fourth straight month to 12.37% in February, data showed on Tuesday, testing the central bank's resolve to keep stimulating the economy in the face of a weakening lira and a worsening conflict in Syria. The rise in

Published 04 Mar, 2020 12:00am

Money & Banking

South Africa slips into second recession in two years

South Africa slipped into recession in the final three months of 2019, the country's statistics bureau said on Tuesday, the second contraction to hit the economy in as many years. It is the third recession the continent's most industrialised economy has s

Published 04 Mar, 2020 12:00am

Model programme on poverty alleviation held at UAF

University of Agriculture Faisalabad Scientists Prof. Dr. Zafar Iqbal Qureshi and his team have successfully implemented model of poverty alleviation and women empowerment with the support of Turkish International Cooperation and Coordination Agency (TiKA

Published 04 Mar, 2020 12:00am

Business & Economy

FIEDMC Road Show to attract foreign investment: Sarwar

Governor Punjab Ch Muhammad Sarwar on Tuesday said that the Faisalabad Industrial Estate Development and Management Company (FIEDMC) Road Show in London would further attract international investments and strengthen links with multinational companies and

Published 04 Mar, 2020 12:00am

Cotton & Textile

8.5 million cotton bales reach ginneries

Seed cotton (Phutti) equivalent to 8.565 million or 8,565,376 bales has reached ginneries across Pakistan till March 1, registering 20.26 per cent shortfall compared to corresponding period of last year. Out of total arrivals, over 8.55 million or 8,552,6

Published 04 Mar, 2020 12:00am

Bilawal assures support to Aurat March

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto has assured a delegation of progressive groups and young doctors of his full cooperation towards holding of Aurat March in the country. He was addressing these two delegations in the city on Tuesday. He

Published 04 Mar, 2020 12:00am

Speakers highlight steps against coronavirus

No scientific proof of onion, garlic juices effectiveness in prevention or treatment of coronavirus, however, a balanced diet and good hygienic condition can provide protection against the virus. "The persons suffering from flue, cough with fever should w

Published 04 Mar, 2020 12:00am

Business & Economy

Cement sector posts phenomenal growth of 33.91 percent in February

Cement sector continued to post growth in the month of February as its total dispatches increased to 4.489 million tons, an increase of 33.91 percent from 3.352 million tons during the same month last year. Domestic consumption increased by 31.35 percent

Published 04 Mar, 2020 12:00am

Ajmal replaces Yousafzai as KP info minister

Advisor to Chief Minister Ajmal Wazir on Merged Districts, Coordination and Spokesperson to the provincial government has been assigned the portfolio of Information and Public Relations. Similarly, Shaukat Yusafzai has been relieved of his portfolio of In

Published 04 Mar, 2020 12:00am

Business & Economy

DFID finances training workshop on financial management

The UK Department for International Development (DFID)-funded Sub-National Governance Programme (SNG) held a training workshop for financial management officers of higher education, social welfare and finance department on the implementation of Integrated

Published 04 Mar, 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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