News Archives for Print - 2020-03-11 - Business Recorder

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Print - 2020-03-11

US begins military pullout from two Afghan bases

US begins military pullout from two Afghan bases

American forces have started pulling out of two bases in Afghanistan, a US official said Tuesday, the day peace talks between Kabul and the Taliban were due to start despite widespread violence and a political crisis.

Published 11 Mar, 2020 12:00am

Tax Laws 'amendment' bill rejected

Tax Laws 'amendment' bill rejected

The Senate Standing Committee on Finance on Tuesday unanimously rejected Tax Laws (First Amendment) Bill 2019, declaring that the bill does not fall within the purview of the "money bill". The Senate Standing Committee on Finance, Revenue and Economic Aff

Published 11 Mar, 2020 12:00am

PM for reducing petrol prices

PM for reducing petrol prices

Prime Minister Imran Khan on Tuesday directed the relevant departments to enhance mutual coordination and forge a practicable and comprehensive strategy to "reduce petroleum prices as much as possible," while blaming the previous governments of mismanagem

Published 11 Mar, 2020 12:00am

Data4Pakistan portal launched

Data4Pakistan portal launched

Prime Minister Imran Khan on Tuesday blamed the previous governments for poverty in Pakistan saying the misplaced priorities of those in power in the past were being corrected by his government to "weed out poverty from the entire country."

Published 11 Mar, 2020 12:00am

Sugar, wheat flour crises: Cabinet authorises body to carry out investigation

Sugar, wheat flour crises: Cabinet authorises body to carry out investigation

The federal cabinet on Tuesday authorised the committee tasked by Prime Minister Imran Khan to probe the sugar and wheat flour crises under the Pakistan Commission of Inquiry Act, 2017, and gave further time for conducting a forensic audit of the informat

Published 11 Mar, 2020 12:00am

Tax shortfall could lead to curtailment of uplift expenditures

Tax shortfall could lead to curtailment of uplift expenditures

The shortfall in achievement of revenue target of the Federal Board of Revenue (FBR) for 2019-20 will have adverse consequences for the projected fiscal position of the government including curtailment in development expenditures.

Published 11 Mar, 2020 12:00am

Mid-year budget review report:' 2H imposes certain risks, challenges

Mid-year budget review report:' 2H imposes certain risks, challenges

The Finance Division has identified several risks including substantial shortfall in tax revenue, unexpected volatility in exchange rate and circular debt in energy sector, and financing of fiscal deficit in achieving fiscal sustainability, which can comp

Published 11 Mar, 2020 12:00am

KSE-100 Index rebounds: BRIndex100 retreats

Stocks

KSE-100 Index rebounds: BRIndex100 retreats

Pakistan Stock Exchange Tuesday rebounded. Although the market dipped again after positive opening, however it turned bullish and remained in the positive territory and closed in green zone with healthy gains. BRIndex100 gained 68.81 points or 1.79 percen

Published 11 Mar, 2020 12:00am

Saudi Arabia, Russia raise stakes in oil standoff

Saudi Arabia, Russia raise stakes in oil standoff

Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks. The clash of oil titans Saudi Arabia

Published 11 Mar, 2020 12:00am

Rules being amended to facilitate upstream petroleum sector

Rules being amended to facilitate upstream petroleum sector

The Economic Coordination Committee (ECC) of the Cabinet is all set to approve two amendments to the Petroleum (Exploration and Production) Rules, 2013 aimed at facilitating upstream petroleum sector. Sharing the details, sources in Petroleum Division tol

Published 11 Mar, 2020 12:00am

Issuance of second energy sukuk being planned

Issuance of second energy sukuk being planned

Power Division is likely to rebid for Pakistan Energy Sukuk (PES) -II of Rs 200 billion after eyebrows were raised by some of the stakeholders on the price being offered by a consortium of Islamic banks, well-informed sources in Finance Division told B

Published 11 Mar, 2020 12:00am

Xi pays first visit to virus epicentre Wuhan

Chinese President Xi Jinping visited Wuhan Tuesday for the first time since the city emerged as the epicentre of the coronavirus epidemic as authorities loosened travel curbs in its surrounding province - signalling confidence that the outbreak is under c
Published 11 Mar, 2020 12:00am

PSL matches to be held in Karachi as per schedule

Sindh Chief Minister Syed Murad Ali Shah has said that in Sindh so far 15 cases of coronavirus have been diagnosed as positive and all the cases are imported and none of them is indigenous. Sindh Chief Minister Syed Murad Ali Shah also announced that the
Published 11 Mar, 2020 12:00am

First case surfaces in Quetta

First case of COVID-19, the mysterious viral pneumonia-like disease caused by the novel coronavirus, has emerged in the Quetta on Tuesday, pushing the countrywide tally to 19, Aaj news reported. The 12-year-old patient had arrived in Quetta along with his
Published 11 Mar, 2020 12:00am

Italy in coronavirus lockdown

Shops and restaurants closed, hundreds of flights were cancelled and streets emptied across Italy on Tuesday, the first day of an unprecedented, nationwide lockdown imposed to slow Europe's worst outbreak of coronavirus.
Published 11 Mar, 2020 12:00am

ICSID award: Government steps up efforts to obtain stay on enforcement

The federal government is seeking out all avenues that Pakistan is granted a stay on enforcement of the International Centre for Settlement of Investment Disputes (ICSID) Award, during the pendency of the annulment proceedings, said the statement issued b
Published 11 Mar, 2020 12:00am

US defence chief delays Pakistan, India trip to guide virus response

US Defence Secretary Mark Esper has put off a trip to South and Central Asia scheduled for next week because of the rapid spread of the novel coronavirus, the Pentagon said Tuesday.
Published 11 Mar, 2020 12:00am

Amount deposited by BTLK belongs to people of Sindh: AGP

The federal government on Tuesday proposed the setting up of a committee to spend of money received from Bahria Town (Pvt) Limited, Karachi (BTLK) in view of the Supreme Court's proceedings, on development projects in Sindh.
Published 11 Mar, 2020 12:00am

Economic landscape: Dawood identifies areas needing serious attention

Pakistan's economy faced a lot of challenges in terms of fiscal and current account deficits and required serious steps in terms of devaluation, control on imports and government expenditures, said Advisor to the Prime Minister on Commerce, Industry and I
Published 11 Mar, 2020 12:00am

Sale of mortgaged properties: Banks not required to obtain decrees, rules LHC

The Lahore High Court Tuesday ruled that banks and financial institutions are not required to obtain a decree to sell mortgaged properties to recover defaulted loans.
Published 11 Mar, 2020 12:00am

20,000 tons of sugar: JWD Sugar Mills withdraws offer to USC

M/s JWD Sugar Mills Ltd of Jehangir Khan Tareen has withdrawn its offer to sell 20,000 tons of sugar to Utility Stores Corporation (USC) at Rs 67 per kg all inclusive due to criticism from the media.
Published 11 Mar, 2020 12:00am

Introduction of institutional & systemic reforms; FTO asks FBR to explain its failure

The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to explain on March 19, 2020 why the tax authorities failed to timely introduce institutional and systemic reforms including risk management framework to check misuse of regis
Published 11 Mar, 2020 12:00am

MH17 downing: Dutch prosecutors say Russia tried to thwart investigation

Dutch prosecutors accused Russia on Tuesday of trying to sabotage the investigation into the downing of Malaysian Airlines Flight 17 in Ukraine in 2014, saying this cast "a dark shadow" over the impending trial of four suspects in the crash.
Published 11 Mar, 2020 12:00am

Shabbar won't resume work?

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi is said to have conveyed to the high-ups in the Ministry of Finance that he will not be able to resume duty as FBR chairman due to health issues. It is learnt that Shabbar Zaidi, however, has not yet t
Published 11 Mar, 2020 12:00am

Seven PML-N, one PPP legislators meet Buzdar

Punjab Chief Minister Sardar Usman Buzdar has again started efforts for appeasing the legislators of opposition - as seven PML-N MPAs and one PPP MPA - met him and discussed political situation, issues concerning their constituencies and other matters of
Published 11 Mar, 2020 12:00am

Letters
'Women on the march'

This is apropos a Business Recorder op-ed "Women on the march" carried by the newspaper yesterday. In my view, the writer, Rashed Rahman, has highlighted the cause of woman emancipation in a highly effective and meaningful manner. His is the most p
Published 11 Mar, 2020 12:00am

Articles
US sanctions have idled a quarter of Iranian oil rigs

At least a quarter of Iran's oil rigs are out of action as US sanctions strangle the Islamic Republic's vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry
Published 11 Mar, 2020 12:00am

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

Coronavirus has brought the Chinese economy and polyester and textile industries in the country under pressure. Parallel to the 2003 SARS crisis, polyester demand could decrease as business activities stopped. There are common fears among the business ope
Published 11 Mar, 2020 12:00am

Articles
Don't sell family silver to foreigners

During the current year, two RLNG power plants, SME Bank, Services International Hotel, Jinnah Convention Centre, Islamabad and 27 other state-owned properties are being planned to be privatized.
Published 11 Mar, 2020 12:00am

Women's Day celebrations

Despite threats by certain religious groups to stop this year's Aurat March, the International Women's Day was celebrated with greater enthusiasm than the last year. Various women's organisations, civil society groups and political parties held rallies an
Updated 12 Mar, 2020 06:19am

'Black Monday'

International oil prices plummeted subsequent to Russia's refusal to decrease output to jack up the prices as proposed by Saudi Arabia during Oil and Petroleum Exporting Countries (OPEC) meeting with Russia. Brent fell by 7 percent dropping to the lowest
Updated 12 Mar, 2020 06:19am

Seized drugs can be used for medicinal purposes: ANF chief tells Senate body

Anti-Narcotics Force (ANF) has forwarded a summary to the Ministry of Health recommending that the drugs seized during various operations should be used for medicinal purposes instead of destroying it.
Published 11 Mar, 2020 12:00am

Punjab prepared to tackle with coronavirus: minister

Information Minister Punjab Fayyaz-ul-Hassan Chohan said on Tuesday that they need to act beyond political point-scoring and personal interests in fight against Coronavirus. While addressing a press conference on Corona awareness campaign being run by the
Published 11 Mar, 2020 12:00am

PM's remarks on Reko Diq criticized

The allies of the ruling Pakistan Tehreek-e-Insaf (PTI) on Tuesday came down hard on Prime Minister Imran Khan for his statement that the assets of Reko Diq would be sold out to pay off the loans borrowed by the country. The issue was first raised by Asla
Published 11 Mar, 2020 12:00am

PML-N leaders urge Shahbaz to play role in country's politics

The senior leadership of the Pakistan Muslim League-Nawaz (PML-N) on Tuesday urged party president and Leader of Opposition in the National Assembly Shahbaz Sharif to return to the country from London and to lead the party into a protest mode against the
Published 11 Mar, 2020 12:00am

'Opposition parties may move privilege motion against Qasim Suri

The opposition political parties on Tuesday said that a joint opposition could move a breach of privilege motion against National Assembly Deputy Speaker Qasim Suri on breach of the house for not taking business on private members' day.
Published 11 Mar, 2020 12:00am

Nawaz's physician Dr Adnan attacked in London

Personal physician of Pakistan Muslim League-Nawaz (PML-N), Dr Adnan was attacked in London on Tuesday. The injured doctor sustained injuries on head, face and chest and was shifted to a hospital. According to reports, Dr Adnan was going out for the daily
Published 11 Mar, 2020 12:00am

Talpur's bank accounts case: Court reserves judgment till March 20

The Accountability Court hearing multi-billion-rupee fake bank accounts case on Tuesday fixed March 20th for announcement of its reserved judgment with respect to former president Asif Ali Zardari's sister Faryal Talpur's plea to unfreeze her bank account
Published 11 Mar, 2020 12:00am

Bail pleas of Khwaja brothers: NAB seeks time to file additional documents

The National Accountability Bureau (NAB) on Tuesday sought more time to file additional documents on the bail pleas of Khwaja Saad Rafique and his brother Salman Rafique.
Published 11 Mar, 2020 12:00am

Business & Economy
Lucky Cement wins MAP's Corporate Excellence Award

Lucky Cement Limited won the Management Association of Pakistan's Corporate Excellence Award in the Cement Sector category. Lucky Cement received the award based on having the best corporate practices and governance in the cement sector.
Published 11 Mar, 2020 12:00am

Energy
KE compliant with prescribed laws, directives

KE refutes the misconception prevailing in the market as the power utility ensures compliance with prescribed laws and regulations and follows due process, seeking clarity wherever applicable on implementation of directives from relevant authorities.
Published 11 Mar, 2020 12:00am

Business & Economy
Tri-Angles invests $3.3m in TV, AC production

Tri-Angles Electronics has invested some $3.3 million during last two years for manufacturing and assembling of Hisense LED TV and Air Conditioners (AC) in Pakistan. Hisense is one of the leading brands in China with exports to over 130 countries. Tri-Ang
Published 11 Mar, 2020 12:00am

SHC CJ for implementing biometric system

Chief Justice of Sindh High Court (SHC) on Tuesday directed all the officers/officials of the court to make their attendance via face recognition of biometric system. The measure has been taken to prevent spread of prevailing outbreak of coronavirus, a ci
Published 11 Mar, 2020 12:00am

PTCL celebrates 'Women's Day'

In line with the tradition of celebrating International Women's Day, Pakistan Telecommunication Company Limited (PTCL), organized a series of events with great fervor across Pakistan including Islamabad, Lahore, Quetta, Faisalabad, Peshawar and Karachi. T
Published 11 Mar, 2020 12:00am

Women's Day: NBP pledges to empower more women

An increase in participation of female work force in a holistic environment in which women can translate their ideas will contribute to higher economic growth,' said Asma Shaikh, SEVP/Group Chief, HRMG, while addressing a large gathering of female employe
Published 11 Mar, 2020 12:00am

Energy
Pantera Energy, Shahkam Industries sign MoU

In a landmark development, Pantera Energy, a leading solar energy equipment and solution provider signed a Memorandum of Understanding with Shahkam Industries to provide 3.32 MW rooftop Solar Power plant. The power plant will be installed and made operati
Published 11 Mar, 2020 12:00am

Taxes
SRB likely to miss annual revenue target

Sindh Revenue Board (SRB) is going to miss its annual budgetary revenue target for fiscal year 2019-20. This was stated by Khalid Mehmood, chairman of SRB, at a meeting with businessmen held at the Karachi Chamber of Commerce and Industry (KCCI) here on T
Published 11 Mar, 2020 12:00am

Money & Banking
Bank Alfalah event in Dubai: Real economic activity may revive soon: SBP governor

Dr Reza Baqir, Governor State Bank of Pakistan (SBP) emphasized that real economic activity is expected to revive soon on the back of recent economic reforms initiated by SBP and the government. These comments were made at a session hosted in the UAE by B
Published 11 Mar, 2020 12:00am

Stocks
International Women's Day: PSX, IFC, PBC and WoB ring the bell for gender equality

As many as 18 leading Pakistani women professionals from different sectors of the economy rang the bell to open trading in celebration of International Women's Day at the Pakistan Stock Exchange (PSX).
Published 11 Mar, 2020 12:00am

Appointments of 15 SAPM: IHC asks government to submit reply

The Islamabad High Court (IHC) on Tuesday directed the federal government to submit a written reply on the petition challenging the appointments of 15 special assistants to Prime Minister Imran Khan. A division bench of IHC comprising Justice Aamer Farooq
Published 11 Mar, 2020 12:00am

Business & Economy
Carrefour introduces new mobile app

Carrefour, operated in Pakistan by Majid Al Futtaim, has introduced a mobile app to better serve its Pakistani customers. The new app brings shoppers across Lahore a simple, digitized, and convenient mobile experience.
Updated 11 Mar, 2020 10:56am

TSA officials to visit Pakistan for assessing security standards

Officials from the Transportation Security Administration (TSA), a US government agency that oversees airport and air carrier security, will visit Pakistan this week to conduct a formal assessment of security standards at the Islamabad International Airpo
Published 11 Mar, 2020 12:00am

Energy
TI-P accuses KE of sending 'exaggerated' bills to consumers

Transparency International Pakistan (TI-P) has accused Karachi Electric (KE) of sending "exaggerated" electricity bills to consumers. On March 5, 2020, National Electric Power Regulatory Authority (Nepra) had also sought a report from KE which has not yet
Published 11 Mar, 2020 12:00am

Coronavirus outbreak: Government introduces health screening tests at all entry points: Dr Zafar

Special Assistant to Prime Minister on Health Dr Zafar Mirza on Tuesday said that government has extended its extraordinary emergency measures and federal government with the collaboration of all provinces is stepping up health screening checks at all ent
Published 11 Mar, 2020 12:00am

Stocks
Risk management controls safeguard against non-market related losses: SECP chief

Chairman, Securities and Exchange Commission of Pakistan (SECP) Aamir Khan Tuesday advised the corporate sector that adequate risk management controls would protect the companies against market, liquidity, operational, and reputational risks.
Published 11 Mar, 2020 12:00am

NA to debate agro-economy today

The National Assembly will initiate an exclusive debate on Pakistan's agro-economy from Wednesday. The speaker National Assembly stated that agriculture is and will remain central to Pakistan's economic development in the foreseeable future and it was vit
Published 11 Mar, 2020 12:00am

Energy
Shell Pakistan and VISA announce grand prize winner

Ms Romana Sohail was announced the grand prize winner of Go Home with Luxury contest by Shell Pakistan Limited and Visa. A special celebration was held at SPL Defence service station. The proud winner of a Mercedes had participated in the contest, which w
Published 11 Mar, 2020 12:00am

Police urged to help resolve traffic issues

Divisional Commissioner Hyderabad Mohammed Abbas Baloch presiding over a meeting regarding traffic issues at his office committee room directed the officers concerned to seek the permanent solution of traffic problems of people of Hyderabad.
Published 11 Mar, 2020 12:00am

Business & Economy
Report on 'CPEC in AJK' launched at ISSI

"CPEC projects will unleash opportunities for socio-economic development for people of Azad Jammu & Kashmir. Government of AJ&K is making all efforts to ensure that CPEC projects in the region are implemented without any delays," stated Raja Farooq Haider
Published 11 Mar, 2020 12:00am

Business & Economy
AGP terms audit officers' role vital for financial management

Auditor General of Pakistan Javaid Jehangir said that the responsibilities of officers of Pakistan Audit and Accounts Service have become all the more pivotal in ensuring and strengthening of parliamentary oversight which will add value to governance in t
Published 11 Mar, 2020 12:00am

Taxes
FBR's drive against doctors evading tax begins

The Federal Board of Revenue (FBR) here on Tuesday started campaign against tax defaulting doctors and prepared the list of 100 such doctors for necessary action. Deputy Collector FBR Mohsin Ahsan while talking to media persons said that the list of tax d
Published 11 Mar, 2020 12:00am

Business & Economy
Modern construction techniques: NHA conducts seminar

In order to employ modern construction techniques in buildings of the National Highways and Motorways, the National Highway Authority (NHA)' s Design Section conducted a seminar in collaboration with AutoDesk software developer company and distributor Log
Published 11 Mar, 2020 12:00am

CEC visits KP election commission office

Chief Election Commissioner (CEC) of Pakistan, MJ Sikandar Sultan Raja on Tuesday just after taking charge of his office paid a visit to the provincial election commission office in Khyber Pakhtunkhwa. On the occasion, the provincial election commissioner
Published 11 Mar, 2020 12:00am

Business & Economy
UK's trade director highlights opportunities to boost bilateral trade

The UK's Department for International Trade (DIT) at the British Deputy High Commission (BDHC) Karachi hosted two interactive round-table conferences at a local hotel today in Karachi focusing on the Education and Health sectors.
Published 11 Mar, 2020 12:00am

Plan afoot to promote oilseed crops in 15 districts of Punjab

Under Prime Minister's agriculture emergency programme, Punjab Agriculture department has initiated a five-year National Oilseed Enhancement Programme costing more than Rs 5.11 billion for the promotion of oilseed crops cultivation like sunflower, canola
Published 11 Mar, 2020 12:00am

Telecommunication
OPPO to launch version of Reno3 Series

OPPO, a leading mobile brand, has decided to launch its international version of Reno3 Series, the world's first Qualcomm-powered dual-mode 5G smartphone, in Pakistan.
Published 11 Mar, 2020 12:00am

Eye-related diseases: 'Al-Shifa Trust provides treatment to 8 million people so far'

Al-Shifa Trust is a second biggest charity of Pakistan which has so far provided treatment to eight million people suffering from eye-related diseases, said Executive Director Brigadier Rizwan Ullah Asghar (retd). He told that this trust has established f
Published 11 Mar, 2020 12:00am

AJK president calls for carving independent states within India

The President Azad Jammu and Kashmir, Masood Khan, on Tuesday, while condemning recent violence against Muslims in Indian capital, New Delhi, has called for creating independent states for Muslims and other minorities within India.
Published 11 Mar, 2020 12:00am

Money & Banking
HabibMetro Bank wins three best practice awards

HabibMetro Bank was recognized for its best practices in diversity and inclusion at the Global Diversity and Inclusion Benchmarks (GDIB) Awards 2020. The Bank won three awards 'Recruitment & Development', 'Social Responsibility', 'Learning'.
Published 11 Mar, 2020 12:00am

Agencies hand over 'missing' SSP to Lahore police

Security agencies have handed over "missing" Senior Superintendent of Police (SSP) Mukhafar Adeel, the prime suspect in former law officer Shahbaz Talta's murder case, to the city police on Tuesday.
Published 11 Mar, 2020 12:00am

PSPA to amend law on transgender to check 'misuse for financial benefits'

As the Transgender Persons (Protection Rights) Act, 2018, empowers "trans persons" to get themselves registered with the government as per their "self-perceived" identity, the Punjab Social Protection Authority (PSPA) has decided to introduce amendments t
Published 11 Mar, 2020 12:00am

15 coronavirus cases reported so far in Pakistan: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar said on Tuesday that federal and Punjab governments are fully alert to controlling the coronavirus and ready to cope with any unwanted situation in this regard.
Published 11 Mar, 2020 12:00am

PFA seals seven milk shops, 12 eateries

The Punjab Food Authority (PFA) on Tuesday sealed seven milk shops in the provincial metropolis and 12 others across Punjab. These food points were sealed due to adulteration, unhygienic conditions and non-compliance with food laws.
Published 11 Mar, 2020 12:00am

Cotton & Textile
APTPMA voices concern over CNIC issue

Chairman All Pakistan Textile Processing Mills Association (APTPMA), Muhammad Pervez Lala, has expressed grave concern on the issue of submission of CNIC w.e.f. 01st February 2020 onwards.
Published 11 Mar, 2020 12:00am

Business & Economy
IMC bags MAP's Corporate Excellence Award 2020

Indus Motor Company (IMC) has won the Best Corporate Excellence Award in the category of Automobile Assembler, as adjudged by the Management Association of Pakistan (MAP), while recognizing and honoring companies that exhibit outstanding performance and d
Published 11 Mar, 2020 12:00am

Elahi for implementing SC decision on school fees

Punjab Assembly Speaker Chaudhry Pervez Elahi said on Tuesday that the government should monitor implementation on the Supreme Court's decision regarding fees of private schools.
Published 11 Mar, 2020 12:00am

Government focusing on small dams to protect land from barrenness: Buzdar

Punjab Chief Minister Sardar Usman Buzdar said on Tuesday that the government is focusing on construction of small dams which will protect thousands of acres of land from getting barren.
Published 11 Mar, 2020 12:00am

New dictatorship imposed in name of Naya Pakistan: Bilawal

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has said that politicians and the legal fraternity have to fight jointly against the new dictatorship imposed in the name of 'Naya Pakistan'.
Published 11 Mar, 2020 12:00am

Remote areas: Punjab government to introduce smart classrooms in schools: minister

The Punjab government is taking steps to get rid of non-availability of quality teachers in remote areas by introducing smart classrooms in educational institutions.
Published 11 Mar, 2020 12:00am

Articles
Partly Facetious : The Ultimate Captain

"Another one bites the dust!"
Published 11 Mar, 2020 12:00am

'Quaid-i-Azam Business Park' to be inaugurated this month

The inauguration of Quaid-i-Azam Business Park being established near Motorway M-2 Sheikhupura Interchange will be held by the end of this month.
Published 11 Mar, 2020 12:00am

Energy
Government urged to reduce power, gas tariffs for industrialisation

The Amun Taraqqi Party (ATP), Chairman Muhammad Faiq Shah while stressing for demonstrating 'predetermination' in wake of rapid declining and shrinking the world's economy, demanded of the government to reduce electricity and gas tariffs at optimal level
Published 11 Mar, 2020 12:00am

Gold down by Rs 200

Gold on Tuesday was traded for Rs 95000 per tola, down by Rs 200 on the local market, traders said.
Published 11 Mar, 2020 12:00am

Energy
Decline in global oil prices: Country's economy to have both positive, negative impact: Dr Ashfaq

The massive decline in global oil prices touching $30 per barrel would significantly benefit macroeconomy of the country, as import bill would decline, resulting in lower trade and current account deficits and lower inflation, but in the long run it may h
Published 11 Mar, 2020 12:00am

Brief Recordings
An interview with Aamir Allawala, CEO Transsion Tecno Electronics 'Mobile phone exports can surpass textiles'

The Engineering Development Board (EDB) is all set to launch a Mobile Device Manufacturing Policy, which is envisioned to bring local and foreign investment into mobile phone production and localization through joint venture partnerships. A major goal is
Updated 11 Mar, 2020 05:00am

Germany to open Syrian 'crimes against humanity' trial in April

The unprecedented trial of two alleged former Syrian intelligence officers accused of participating in crimes against humanity will begin in April, a German court said Tuesday.
Published 11 Mar, 2020 12:00am

Ethiopian Airlines marks one year since plane crash

Ethiopian Airlines on Tuesday marked the one-year anniversary of the crash of Flight 302 by bringing relatives of the dead together for a ceremony at the crash site southeast of the capital, Addis Ababa.
Published 11 Mar, 2020 12:00am

Biden hopes for decisive blow to Sanders as six US states vote

Joe Biden was hoping to deal a debilitating blow to leftist rival Bernie Sanders on Tuesday as six states including crucial Michigan began voting in the Democratic presidential primaries.
Published 11 Mar, 2020 12:00am

Putin lays out path to staying in power

Russian President Vladimir Putin laid out a path Tuesday to staying in power beyond 2024, as lawmakers approved sweeping reforms to the constitution. In a surprise address to the lower house State Duma, Putin said there could be a presidential "reset" all
Published 11 Mar, 2020 12:00am

New York deploys National Guard to fight coronavirus

New York is deploying National Guard troops for the first time in the coronavirus crisis to help contain the spread of the disease from an infection-hit suburb of New York City, the state's governor said Tuesday.
Published 11 Mar, 2020 12:00am

Telecommunication
Coronavirus case at Apple's EU headquarters in Ireland

An Apple employee at the tech giant's European headquarters in the city of Cork has tested positive for the novel coronavirus, the firm said Tuesday.
Published 11 Mar, 2020 12:00am

UN headquarters closed to tourists over coronavirus

The United Nations on Tuesday closed its New York headquarters to the general public to help prevent the spread of the new coronavirus, a spokesman for UN Secretary General Antonio Guterres said.
Published 11 Mar, 2020 12:00am

UN appeals for funds to shield refugees from coronavirus

The United Nations made an urgent appeal Tuesday for tens of millions of dollars to help protect vulnerable refugees against the spread of the deadly new coronavirus. The UN refugee agency said it was seeking an initial $33 million "to boost the preparedn
Published 11 Mar, 2020 12:00am

South African president cleared of graft accusations

A South African court on Tuesday ruled in favour of President Cyril Ramaphosa in a probe of suspected money laundering and personal enrichment linked to his 2017 party leadership election campaign fund.
Published 11 Mar, 2020 12:00am

UN chief urges action on global warming following new climate report

UN Secretary General Antonio Guterres demanded urgent action against global warming following the publication of a report Tuesday on planetary warming last year.
Published 11 Mar, 2020 12:00am

Dutch king apologises to Indonesia

Dutch King Willem-Alexander apologised to Indonesia on Tuesday for "excessive violence" during the former colony's independence struggle in the 1940s.
Published 11 Mar, 2020 12:00am

Commodities
European wheat slumps to five-month low

European wheat slid on Monday to its lowest level in more than five months as a collapse in oil prices added to a recent rout in financial markets. A further jump in the euro and a slide in the Russian rouble clouded the export outlook for European wheat.
Published 11 Mar, 2020 12:00am

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,750. The traded value of metals, energy and COTS/FX was recorded at PKR 9.069 billion and the number of lots traded was 14,104.
Published 11 Mar, 2020 12:00am

Commodities
China's iron ore, other ferrous futures slump on gloomy demand

China's ferrous derivatives slumped on Monday, with iron ore almost hitting its downside limit early in the session, as panic over the coronavirus outbreak and plunging oil prices gripped financial markets. Denting sentiment further were concerns over iro
Published 11 Mar, 2020 12:00am

Commodities
CBOT soyabean futures fall following crude oil, equities

Chicago Board of Trade soyabean futures fell more than 2% on Monday in sympathy with declines in energy and equity markets after Saudi Arabia launched a crude oil price war against Russia and fears escalated over the economic impact of the coronavirus, tr
Published 11 Mar, 2020 12:00am

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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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