News Archives for Print - 2020-03-14

Print - 2020-03-14

KE, City Administration join hands to restore Ibn-e-Insha Park

Ibn-e-Insha Park in Nazimabad has been reopened for the public after years of neglect, with a completely new look. K-Electric, with the collaboration and support of UC-47 cleared more than 26 tons of garbage from the derelict park and its surroundings in

Published 14 Mar, 2020 12:00am

Swiss close schools, offer $10 billion in business aid over virus

Switzerland will close its schools in a bid to halt the spread of the new coronavirus, the government said Friday, adding that it would provide billions in aid to hard-hit businesses.

Published 14 Mar, 2020 12:00am

Global Business Economy

Canada approves North American trade deal, suspends parliament over coronavirus

Canadian lawmakers hastily approved a North American free trade deal Friday before announcing parliament would be suspended until late April over concerns about the new coronavirus.

Published 14 Mar, 2020 12:00am

Global Business Economy

Coronavirus impact on economy 'short-term issue': Mnuchin

President Donald Trump is "very close" to reaching a stimulus agreement with US lawmakers to fight the coronavirus outbreak's economic damage that has sent markets plunging and disrupted businesses, Treasury Secretary Steven Mnuchin said Friday.

Published 14 Mar, 2020 12:00am

Other

Sporting calendar shredded as coronavirus ravages top events

The collapse of sports events worldwide gathered pace Friday with England's Premier League, Europe's Champions League and the Augusta Masters golf major among competitions swept aside by the coronavirus pandemic.

Published 14 Mar, 2020 12:00am

Cricket

Multan Sultans record easy win against Peshawar Zalmi

Multan Sultans successfully defended an easy target of 155 runs, defeating Peshawar Zalmi by three runs in the Pakistan Super League matcher here on Friday.

Published 14 Mar, 2020 12:00am

Cricket

ICC to hold its meetings via conference call only

In the wake of the continued global spread of COVID-19, the International Cricket Council (ICC) Board, has decided to hold its meetings scheduled for Dubai at the end of March via conference call only.

Published 14 Mar, 2020 12:00am

Football

Pilot lost control, flew too fast in Sala crash: UK probe

Footballer Emiliano Sala was killed when the pilot of his plane lost control and flew too fast as he tried to avoid bad weather, British aviation investigators said on Friday.

Published 14 Mar, 2020 12:00am

Cricket

PCB allows foreign players to leave remaining PSL matches

A day after the decision made by Pakistan Cricket Board (PCB) to organize HBL PSL V 2020 matches behind closed doors in Karachi due to coronavirus threats, 14 foreign players and coaching staff have withdrawn the Pakistan Super League tournament.

Published 14 Mar, 2020 12:00am

Cricket

IPL postponed as virus fears mount

The Indian Premier League, the world's most lucrative cricket competition, on Friday postponed the start of this year's tournament amid mounting anxiety in India over the coronavirus pandemic.

Published 14 Mar, 2020 12:00am

Other

Formula One in turmoil as three races scrapped on eve of season

Formula One's season was thrown into turmoil Friday with the Australian Grand Prix cancelled just hours before cars were due to hit the track, and races in Vietnam and Bahrain subsequently called off as well as the coronavirus pandemic takes its toll.

Published 14 Mar, 2020 12:00am

Other

London Marathon postponed until October 4

The 40th edition of the London Marathon has been postponed from April 26 to October 4, race organisers announced on Friday due to the health crisis caused by the spread of the new coronavirus.

Published 14 Mar, 2020 12:00am

Money & Banking

Aussie, kiwi left broken in global rush from risk

The Australian and New Zealand dollars lay bloodied at 11-year lows on Friday as panicked investors fled risk in all forms and dumped currencies with exposure to global trade or commodities. As the spread of the coronavirus disrupts travel worldwide and a

Published 14 Mar, 2020 12:00am

Money & Banking

Sterling hits five-month lows on broad dollar rebound

The pound weakened to a five-month low on Friday, erasing earlier gains, as the dollar rallied across the board in volatile trading. The dollar had sunk in Asian and early London sessions, then regained all its losses and went onto post sharp gains agains

Published 14 Mar, 2020 12:00am

Money & Banking

Bitcoin surges a fifth as markets rebound

Bitcoin surged by more than a fifth on Friday amid high volatility across rebounding global markets, reversing some of its heavy losses from a day earlier but still leaving the cryptocurrency down nearly 30% since the start of the week.

Published 14 Mar, 2020 12:00am

Money & Banking

Most Asian currencies weaken

Most Asian currencies fell against a firmer dollar on Friday, with the Indonesian rupiah and the South Korean won declining the most, as intensifying panic over the coronavirus outbreak sent investors scurrying into the world's reserve currency.

Published 14 Mar, 2020 12:00am

Money & Banking

South Africa's rand recovers

South Africa's rand rallied on Friday afternoon as the flush of liquidity pumped into markets by central banks overseas spurred flows back into emerging currencies after the coronavirus sell-off. At 1430 GMT, the rand was 2.06% firmer at 16.2300 per dolla

Published 14 Mar, 2020 12:00am

Money & Banking

Turkish lira steady

The Turkish lira traded steady at 6.32 against the dollar early on Friday after the government took measures to curb the spread of coronavirus, closing schools and universities and deciding to hold sports events without spectators.

Published 14 Mar, 2020 12:00am

Money & Banking

Euro slides, yen and franc remain in demand in New York

The euro weakened on Thursday, as investors were unimpressed by the European Central Bank's stimulus measures to fight the economic fallout from the coronavirus outbreak, with investors flocking to the safe-haven dollar after the Federal Reserve said it w

Published 14 Mar, 2020 12:00am

Money & Banking

Early trade in New York: Dollar rallies; yen plummets

The dollar advanced on Friday, posting sharp gains against the safe-haven yen as stock markets recovered globally and investors cheered efforts made by governments and policymakers to address the economic fallout from the coronavirus outbreak.

Published 14 Mar, 2020 12:00am

Money & Banking

Dollar surges against yen, others in Europe

The dollar rallied on Friday, gaining sharply versus the yen, as stock markets rebounded and investors welcomed signs that governments and policymakers were prepared to do more to tackle the economic shock of the coronavirus.

Published 14 Mar, 2020 12:00am

Money & Banking

Dollar gains in Asia

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus, while the euro nursed losses after the European Central Bank disappointed by not cutting rates.

Published 14 Mar, 2020 12:00am

Europe now 'epicentre' of COVID-19 pandemic: WHO

The World Health Organization said Friday that Europe was now the "epicentre" for the global coronavirus pandemic - and warned it was impossible to know when the outbreak would peak. The continent had now "more reported cases and deaths than the rest of t

Published 14 Mar, 2020 12:00am

UK delays local elections over coronavirus

Britain on Friday announced it was delaying May's local elections - including for London mayor - for a year due to the outbreak of coronavirus. "We will bring forward legislation to postpone local, mayoral and Police and Crime Commissioner elections until

Published 14 Mar, 2020 12:00am

Some Rome churches reopen after angry pope steps in

Some of Rome's Catholic churches reopened Friday after Pope Francis voiced displeasure with the Italian authorities' push to shut them because of the coronavirus pandemic. The rare standoff between the 83-year-old pontiff and Prime Minister Giuseppe Conte

Published 14 Mar, 2020 12:00am

Turkey, Russia agree joint patrols in Syria

Turkish and Russian officials agreed Friday to start joint patrols in Syria's Idlib at the weekend, Turkey's defence minister said, following a fragile ceasefire in the last rebel stronghold.

Published 14 Mar, 2020 12:00am

Moscow plans coronavirus medical centre on Chinese model

Moscow said on Friday it was planning to build a medical centre inspired by a rapidly built Chinese facility to prevent the spread of the coronavirus pandemic. The new 500-bed facility, in a sparsely populated region 50 kilometres (30 miles) from Moscow,

Published 14 Mar, 2020 12:00am

G7 to hold special coronavirus summit via video Monday

France moved Friday to bolster cross-border coordination of the coronavirus response, marshalling G7 leaders for an extraordinary summit via videoconference, and launching an EU discussion on stricter border control.

Published 14 Mar, 2020 12:00am

US summons Chinese ambassador over coronavirus comments

The US State Department on Friday summoned the Chinese ambassador to the United States to protest against comments by a Chinese foreign ministry spokesman who had suggested the US military might have brought the coronavirus to Wuhan.

Published 14 Mar, 2020 12:00am

Chinese billionaire Jack Ma offers US virus test kits, masks

Chinese billionaire businessman Jack Ma on Friday offered the United States 500,000 coronavirus test kits and a million masks, as the country faces a shortage of kits for diagnosing the potentially deadly disease.

Published 14 Mar, 2020 12:00am

US developing rapid coronavirus tests as shortages persist

The United States on Friday announced it was funding development of rapid diagnostic kits for the novel coronavirus as people across the country reported they were unable to get tested for the illness because of shortages.

Published 14 Mar, 2020 12:00am

ICoast PM named ruling party's presidential candidate

Ivory Coast's ruling party has named the prime minister as its candidate for the October presidential poll, after President Alassane Ouattara ended months of speculation and said he would not seek a controversial third term.

Published 14 Mar, 2020 12:00am

Debate on coronavirus: PML-N submits requisition for a joint session

The main opposition party, the Pakistan Muslim League-Nawaz (PML-N) on Friday submitted a requisition in the National Assembly Secretariat for a joint session of the Parliament to discuss the outbreak of coronavirus in the country.

Published 14 Mar, 2020 12:00am

Business & Economy

Over 300 companies keen to set up industrial units in QABP

Over 300 national and multinational companies have shown interest in establishing industrial units in the Quaid-e-Azam Business Park (QABP). This was revealed at a meeting at the Punjab Industrial Estates Development and Management Company (PIEDMC) office

Published 14 Mar, 2020 12:00am

Book on 'The Art and Craft of Management' launched

Eminent banker Sirajuddin Aziz's book, "The Art and Craft of Management", an anthology of his articles, was launched here at a local hotel on Friday.

Published 14 Mar, 2020 12:00am

Probe into smuggling of face masks begins

The Federal Investigation Agency (FIA) has initiated an investigation into allegation of smuggling of surgical masks to foreign countries.

Published 14 Mar, 2020 12:00am

Energy

Hascol appoints CEO & director

Alan Duncan has joined the Board of the Directors of the Company as nominee Director of Vitol Dubai Limited. Alan is a former UK government minister. After studying at Oxford and Harvard, he worked first for Shell and then spent 10 years as an oil trader

Published 14 Mar, 2020 12:00am

Business & Economy

TDAP holds exporters training programme

TDAP successfully organized 5th episode of National Exporters Training Program (NETP) at Sukkur in collaboration with Sukkur, Khairpur, Shikarpur and Larkana Chambers of Commerce & Industry on 12th March. The objective of this program was to train potenti

Published 14 Mar, 2020 12:00am

Energy

KE clarification

Apropos a news report titled 'TI-P accuses KE of sending exaggerated bills to consumers', K-Electric (KE) reiterates that the power utility is a law abiding entity that strictly adheres to all rules and regulations.

Published 14 Mar, 2020 12:00am

NA session prorogued: Lawmakers perturb over rising cases of coronavirus

The members from both sides of the aisle in the National Assembly on Friday expressed anxiety and confusion over increasing coronavirus cases in the country, leaving the chair with no option but to cut the session short by a week and prorogue the House.

Published 14 Mar, 2020 12:00am

Business & Economy

BACP for focussing on untapped markets of Russia, Central Asia

The global economic scenario will be completely changed within next couple of months and hence, Pakistan must realign its trade and industry related strategy in addition to focusing on untapped markets including Russia and other land locked states of cent

Published 14 Mar, 2020 12:00am

Business & Economy

POS Integration System: Registration of retailers not up to mark

Registration of tier-1 retailers under the Point of Sale (POS) Integration System of the Federal Board of Revenue (FBR) is not up to the mark due to the technical flaws, said sources.

Published 14 Mar, 2020 12:00am

Coronavirus threat: Police halt biometric attendance system

Amid rising threat of coronavirus in the country, the Punjab police have halted the biometric attendance system for an indefinite period in all the offices and directed its officials suffering from cough, flu or fever to cover their mouths and noses with

Published 14 Mar, 2020 12:00am

Business & Economy

LCCI for stringent safety steps to coronavirus

The Lahore Chamber of Commerce and Industry (LCCI) stressing the need for fool proof and stringent safety measures to contain the further spread of coronavirus has urged the government to immediately compile the data of travelers to Pakistan and ensure th

Published 14 Mar, 2020 12:00am

CM condoles martyrdom of Wing Commander Noman Akram

Chief Minister Punjab Sardar Usman Buzdar went to the residence of Wing Commander Noman Akram who embraced martyrdom in a plane crash and extended heartfelt sympathies and condoled with his family members including Brig (R) Muhammad Akram father of Noman

Published 14 Mar, 2020 12:00am

Suspects in Punjab: 71 tested negative, one under observation: Chohan

Punjab Information Minister Fayyaz-ul-Hassan Chohan said on Friday that 72 coronavirus suspects were admitted to the hospitals of Punjab out of which 71 were test negative while only one case was under observation. The minister was responding to the point

Published 14 Mar, 2020 12:00am

Money & Banking

BankIslami, LUMS conducts certified programme on Islamic finance

BankIslami Pakistan Limited, in collaboration with the Centre for Islamic Finance of Lahore University of Management Science (LUMS) successfully conducted a certified program on Islamic Finance for its branch managers in Lahore. This capacity building ini

Published 14 Mar, 2020 12:00am

Mir Shakil remanded in NAB custody for 12 days

An accountability court on Friday handed over physical custody of Jang and Geo Media Group's Editor-in-Chief, Mir Shakil-ur-Rehman, to the National Accountability Bureau (NAB) for 12 days in a land transaction case. Mir Shakil's counsel Barrister Aitzaz A

Published 14 Mar, 2020 12:00am

Articles

Partly Facetious : The in-laws don't change unless...

"Our desi Ivanka went a-calling and there was one more prominent arrest."

Published 14 Mar, 2020 12:00am

Business & Economy

Report anticipates some decline in trading activity in coming months

The coronavirus outbreak is expected to affect industrial activity of various countries, including key trading partners of Pakistan, analysts said.

Published 14 Mar, 2020 12:00am

Business & Economy

'Kashf Entrepreneurship Awards 2020' event held with UNDP support

Kashf Foundation, with support from the United Nations Development Programme (UNDP), hosted the Kashf Entrepreneurship Awards 2020, here on Friday.

Published 14 Mar, 2020 12:00am

Articles

Shareholders pick holes in Europe's bank safety blanket

The euro zone followed Britain on Thursday with measures to support banks hit by the coronavirus pandemic but it offered little consolation to their long-suffering shareholders, faced with continued rock-bottom interest rates and a dire economic outlook.

Published 14 Mar, 2020 12:00am

Combined income groups: SPI inflation up 0.71 percent WoW

The Sensitive Price Indicator-based inflation during the week ended March 12 against March 5 witnessed an increase of 0.71 percent for combined income groups. It moved up from 128.74 points to 129.66 points, the SPI data released by the Pakistan Bureau of

Published 14 Mar, 2020 12:00am

Karachi package: PM for expediting work

Prime Minister Imran Khan on Friday directed the federal government authorities to expedite Rs 162 billion development package announced by the federal government for Karachi, while reviewing a host of mega projects concerning the cosmopolitan.

Published 14 Mar, 2020 12:00am

ECC accords approval to gas allocation to SSGC

The Economic Coordination Committee (ECC) of the Cabinet has accorded approval, in principle to allocation of 10 MMCFD gas to the Sui Southern Gas Company Limited (SSGCL) and the provisional tight gas price incentive for Rehman-4 well in Kirthar Block sub

Published 14 Mar, 2020 12:00am

Rescheduled PSL tournament to be played behind closed doors

Besides replacing the playoffs with semi-finals to shorten the HBL PSL V 2020 by four days, due to coronavirus threats, Pakistan Cricket Board has decided to hold these matches behind closed doors. Earlier, the decision to hold matches without spectators

Published 14 Mar, 2020 12:00am

Locally-transmitted coronavirus case detected in Karachi

The very first locally transmitted case of the novel coronavirus emerged in the city on Friday, pushing the patients' tally of COVID-19 to 15 in Sindh province. A spokesperson for the Sindh health department confirmed that a 52-year-old man, who had arriv

Published 14 Mar, 2020 12:00am

Government to seek fresh funds from multilateral agencies: minister

The government has decided re-allocation of non-utilized funds and to seek fresh funds from multilateral agencies to deploy towards coronavirus (COVID-19) prevention across the country, said Federal Minister for Economic Affairs Hammad Azhar.

Published 14 Mar, 2020 12:00am

Pakistan shuts borders with Iran and Afghanistan

Pakistan on Friday decided to shut its western borders with Iran and Afghanistan for two weeks, limit international operations only to three major airports, shut educational institutes for three weeks and ban public gatherings.

Published 14 Mar, 2020 12:00am

Stocks

PSX manages to make decent recovery: BRIndex100 inches up

The local bourse remained in the grip of panic selling Friday and the Exchange had to trigger another market halt just after opening of the trading session this week. However, fresh buying at the fag end supported the market to close on a positive note. T

Published 14 Mar, 2020 12:00am

JEDI contract

The US Department of Defense said Thursday it wants to reconsider its decision to award a multi-billion-dollar military cloud computing contract to Microsoft in a bidding process Amazon claims was tainted by politics. A judge last month issued an order at

Published 14 Mar, 2020 12:00am

NAB's governing statute: SECP board to take legal opinion from Law Division

The Securities and Exchange Commission of Pakistan (SECP) Policy Board has decided to take legal opinion from the Law Division on the National Accountability Bureau's powers and jurisdiction on transfer of cases, assistance from the SECP officials to the

Published 14 Mar, 2020 12:00am

PSX triggers another market halt

The local bourse witnessed a freefall at the start of the trading session and the Pakistan Stock Exchange had to trigger market halt option at 09:25am for 45 minutes for the third day this week. The market fell by over 4 percent at 09:25am when the PSX in

Published 14 Mar, 2020 12:00am

SECP examines stock market situation

The Securities and Exchange Commission of Pakistan's (SECP) team led by the Chairman SECP and Commissioner (SM) held a detailed meeting with the CEOs of Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited and Central Depository Co

Published 14 Mar, 2020 12:00am

Government to seek special export package from China

The government has reportedly decided to seek a special export package from China as compensation of decline in exports destined to China since coronavirus hit China in December 2019. Well-informed sources told Business Recorder that this proposal

Published 14 Mar, 2020 12:00am

Kuwait shuts mosques over coronavirus

Kuwait's religious authorities asked Muslims to pray at home on Friday as the emirate prepares to enter a period of virtual lockdown to fight the spread of the new coronavirus. "The doors of the mosques will stay closed," said the ministry of religious en

Published 14 Mar, 2020 12:00am

Iraq condemns US air strikes

Iraq condemned overnight US air strikes on Friday, with its military saying they had killed six people and describing them as a violation of sovereignty and a targeted aggression against the nation's regular armed forces. President Barham Salih said repea

Published 14 Mar, 2020 12:00am

SC issues notice to AGP regarding interpretation of Article 165-A

The Supreme Court issued notice to the Attorney General for Pakistan regarding interpretation of Article 165-A of the Constitution and Section 122(2) of Income Tax Ordinance (ITO) 2001 that whether entities established under the provision of statutes woul

Published 14 Mar, 2020 12:00am

Exporters urge senate body to help restore sales tax zero-rating facility

Exporters associations have unanimously recommended the Senate Standing Committee on Finance to restore sales tax zero-rating facility as the Federal Board of Revenue (FBR) has failed to issue refunds within 72 hours as promised by Prime Minister Imran Kh

Published 14 Mar, 2020 12:00am

Major US Internet firms

The Federal Communications Commission said Friday that major internet providers - including Comcast Corp, AT&T Inc and Verizon Communications Inc - agreed not to terminate service for subscribers for the next 60 days if they are unable to pay their bills

Published 14 Mar, 2020 12:00am

India releases Farooq Abdullah

Indian authorities on Friday released an influential Kashmir lawmaker who had been held for seven months after New Delhi stripped the disputed region of its semi-autonomy and detained thousands of politicians and activists.

Published 14 Mar, 2020 12:00am

PSM's revival plan discussed

Pakistan Steel Mills Board of Directors (BoD) Chairman Aamir Mumtaz Friday said Pakistan Steel Mills is in the process of revival and recovery and needs to reinvent itself as a new organization. Presiding over a meeting with PSM officials regarding reviva

Published 14 Mar, 2020 12:00am

End-December 2019: Islamic banking market share jumps to 15 percent

The market share of Islamic Banking Industry (IBI) in the overall banking industry surged to 15 percent by the end of December 2019. Islamic banking continues to post healthy growth and its share in overall banking industry increased to 14.9 percent in De

Published 14 Mar, 2020 12:00am

36 Brigadiers promoted

The Pakistan Army Promotion board on Friday promoted 36 Brigadiers to the rank of Major General. The meeting to this regard was held here at General Headquarters which was presided by Chief of Army Staff (COAS), General Qamar Javed Bajwa , an Inter Servic

Published 14 Mar, 2020 12:00am

Government not behind Mir Shakil's arrest: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan on Friday dismissed as false propaganda the allegations that the federal government was behind the arrest of Jang Group's Mir Shakilur Rehman at the hands of Nation

Published 14 Mar, 2020 12:00am

Letters

Coronavirus threat

According to the World Health Organisation (WHO), nearly 5,000 people have died and over 132,000 have been infected by coronavirus globally. Although the number of infected people in Pakistan is 21 with no deaths so far, the near absence of required prepa

Published 14 Mar, 2020 12:00am

Articles

ECB rushes to clear up Lagarde stumble on virus response

The European Central Bank scrambled Friday to ease eurozone jitters a day after president Christine Lagarde spectacularly failed to convince financial markets with big-bang measures against the coronavirus shock.

Published 14 Mar, 2020 12:00am

Farid Rahman elected SOPREST president

Farid Rahman has been elected as a new president of the Society for the Promotion of Engineering Sciences and Technology in Pakistan (SOPREST), a parent body of Ghulam Ishaq Khan Institute of Engineering Sciences and Technology.

Published 14 Mar, 2020 12:00am

Coronavirus spread: Chief Justice for fumigation in SHC premises

Chief Justice (CJ) Sindh High Court (SHC) Ahmed Ali M Sheikh on Friday directed for proper fumigation in high court premises including chambers, court rooms, office/branches, offices of Bar and other departments located in the premises of high court in Ka

Published 14 Mar, 2020 12:00am

Sindh confirms one more coronavirus case, tally rises to 21

The health authorities in Sindh confirmed one more coronavirus case in the province on Friday. The confirmation was made in a post on social networking platform Twitter by the provincial Health and Population Welfare Department.

Published 14 Mar, 2020 12:00am

Coronavirus: Cash prize for vaccine developer announced

Sindh Information Minister Nasir Hussain Shah on Friday announced a cash prize for the one who develops a vaccine for the coronavirus. According to a statement, Nasir Hussain Shah said it was his request to all research laboratories and students to help t

Published 14 Mar, 2020 12:00am

Sindh PA adjourned till 27th

The Sindh Assembly was Friday adjourned for March 27 after mourning the death of its female lawmaker Shahnaz Ansari.

Published 14 Mar, 2020 12:00am

Sindh government starts KCR's revival work: minister

Provincial Minister for Information, Local Government, Religious Affairs, Forest and Wildlife, Syed Nasir Hussain Shah, has said that Sindh government has also started work for restoration of Karachi Circular Railway on the directives of the Supreme Court

Published 14 Mar, 2020 12:00am

Money & Banking

Jubilee Life, Habib Metro Bank collaborate for Bancatakaful products

Habib Metropolitan Bank Limited and Jubilee Life Insurance Company Limited have recently entered into a distribution alliance for Jubilee Life's Window Takaful products to bring ease of access to innovative products as part of delivering an unparalleled l

Published 14 Mar, 2020 12:00am

Stocks

'BitsOfGold' presents documents for evaluation to SECP

'BitsOfGold', an online gold trading platform, has presented its documentation for evaluation to Security and Exchange Commission of Pakistan under Regulatory Sandbox Guidelines 2019.

Published 14 Mar, 2020 12:00am

Gold prices fall by Rs 900

Gold on Friday further receded by Rs 900 per tola to Rs 93600 on the local market, traders said.

Published 14 Mar, 2020 12:00am

Taxes

Gold smuggling foiled

An attempt of smuggling of gold from Pakistan to Afghanistan was foiled, when the custom officials recovered six and half kilo from Afghanistan bound truck on Friday. The custom official said that on tips of, the custom (preventive) staff during routine s

Published 14 Mar, 2020 12:00am

Telecommunication

Telenor marks 15 years operations in Pakistan

Telenor Pakistan on Friday marked 15 years of its operations in Pakistan with an investment of over $4.5 billion, making it one of the largest foreign direct investors in the country, and has paid over $2.5 billion in direct and indirect taxes through a s

Published 14 Mar, 2020 12:00am

PHEC holds meeting: Need for setting up council of editors stressed

Establishment of Council of Editors has been emphasized to improve the quality of local research journals in Punjab during a consultative meeting of Punjab Higher Education Commission (PHEC) with the editors and local research journals. The meeting, held

Published 14 Mar, 2020 12:00am

Fisheries department to launch 'Cage Culture Cluster' project

The provincial department of fisheries is all set to launch 'Cage Culture Cluster Development Project' worth Rs 1.475 billion to harness the potential of untapped aquatic resources of the province and increase fish production to meet the food requirement.

Published 14 Mar, 2020 12:00am

Energy

Ogra invites consumers, public for hearings on SNGPL's petition

The Oil and Gas Regulatory Authority (Ogra) has invited gas consumers and the general public for public hearings on the Sui Northern Gas Pipeline Limited (SNGPL)'s petition for an increase in its average prescribed price by Rs 133.31 per mmbtu effective J

Published 14 Mar, 2020 12:00am

Articles

The lucky economy

About a decade or more ago, during a square table discussion, a comment was made that the economic success of the dictatorial government could only be attributed to luck; the almost immediate retort was short and simple - that being the case is it not stu

Published 14 Mar, 2020 12:00am

Articles

OICCI's survey

The Overseas Investors Chambers of Commerce & Industry (OICCI) has rolled out key findings of its recently released 'Perception and Investment Survey - 2019'. The following are key punch lines of its survey:

Published 14 Mar, 2020 12:00am

Redressing foreign policy

When Foreign Minister Shah Mahmood Qureshi gets involved in creating a new province - something which is presently not a possibility - instead of looking after his own portfolio then there is something definitely wrong with distribution of government work

Updated 16 Mar, 2020 08:49am

Rise in remittances

It is good to see that home remittances sent by overseas Pakistanis are rising and contributing a great deal to the improvement in external sector of the economy. According to the latest data released by the State Bank, workers' remittances amounted to do

Updated 16 Mar, 2020 08:48am

Business & Economy

Hafeez reviews proposals to facilitate export-oriented sector

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired a meeting here at the Finance Division to review the proposals for the facilitation of exports oriented sectors with a special focus on small and medium enterprises (SMEs)

Published 14 Mar, 2020 12:00am

'1,800 Pakistani pilgrims shifted to Quetta from quarantine'

As many as 1,800 pilgrims on Friday were shifted to Quetta from quarantine at the Taftan border. The pilgrims were kept in the quarantine after reaching to Pakistan from Iran amid coronavirus threat that has claimed more than 450 lives in Iran. The pilgri

Published 14 Mar, 2020 12:00am

Demand pay raise: Pakistan Secretariat employees stage sit-in

The employees of Pakistan Secretariat on Friday staged a sit-in outside the Parliament House seeking pay raise on the pattern of the staff of Prime Minister's Office, the President House, the NAB, the Federal Investigation Agency (FIA), the Federal Board

Published 14 Mar, 2020 12:00am

Shahbaz for national action plan to tackle challenges

Terming deteriorating economy as a bigger threat to the national sovereignty than Coronavirus, leader of the Opposition in the National Assembly and the Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif said on Friday that the world is fightin

Published 14 Mar, 2020 12:00am

Global Business Economy

British Airways to cut jobs over coronavirus: CEO

British Airways will cut jobs after the coronavirus pandemic devastated demand for global air travel, its chief executive Alex Cruz said Friday. "To be frank, given the changing circumstances, we can no longer sustain our current level of employment and j

Published 14 Mar, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 11	280.53
USD PKR Interbank Buying / Apr 11	280.28
USD to Japanese Yen / Apr 11	143.90
USD to Swiss Franc / Apr 11	0.82
Pound Sterling to USD / Apr 11	1.30
Euro to USD / Apr 11	1.13
UK LIBOR % / Apr 10	4.96

Stock	Volume
S&P 500 / Apr 10	5,268.05
Nasdaq / Apr 10	16,387.31
Dow Jones / Apr 10	39,593.66
India Sensex / Apr 11	75,343.21
Tokyo Nikkei / Apr 11	33,533.93
Hang Seng / Apr 11	21,054.61
FTSE 100 / Apr 11	7,879.52
Germany DAX 30 / Apr 11	20,278.17
France CAC40 / Apr 11	7,066.01

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 10	16,785
Gold 10 Grams PKR / Apr 10	281,893
Petrol/Litre / Apr 11	254.63
Crude Oil USD/Barrel / Apr 11	60.77
Gold Spot USD/Ounce / Apr 11	3,196.67
Diesel/Litre / Apr 11	258.64
Cotton US¢/pound / Apr 11	67.35

Gainers
Losers
Leaders

Stock	Price
Pak Agro Pack. (GEM) / Apr 11 Pak Agro Packaging Limited (GEM)(GEMPAPL)	8.85 ▲ 1 (12.74%)
Pak Gulf Leasing / Apr 11 Pak-Gulf Leasing Company Limited(PGLC)	19.57 ▲ 1.78 (10.01%)
Bawany Air Products / Apr 11 Bawany Air Products Limited(BAPL)	28.91 ▲ 2.63 (10.01%)
Calcorp Ltd / Apr 11 Calcorp Limited(CASH)	37.24 ▲ 3.39 (10.01%)
Parmount Sp. / Apr 11 Paramount Spinning Mills Limited(PASM)	4.18 ▲ 0.38 (10%)
Diamond Ind. / Apr 11 Diamond Industries Limited(DIIL)	35.20 ▲ 3.2 (10%)
ZIL Limited / Apr 11 ZIL Limited(ZIL)	295.72 ▲ 26.88 (10%)
PIA Holding Co.B / Apr 11 PIA Holding Company Limited B(PIAHCLB)	1,329.45 ▲ 120.86 (10%)
Pak Gen.Ins. / Apr 11 The Pakistan General Insurance Co. Ltd.(PKGI)	9.50 ▲ 0.72 (8.2%)
LSE Financial Serv. / Apr 11 LSE Financial Services Limited(LSEFSL)	20.50 ▲ 1.49 (7.84%)

Stock	Price
Oilboy Energy(R) / Apr 11 Oilboy Energy Limited(R)(OBOYR2)	1.83 ▼ -0.42 (-18.67%)
Blue-Ex Ltd / Apr 11 Blue-Ex Limited (GEM)(GEMBLUEX)	60.74 ▼ -6.74 (-9.99%)
Leather Up Ltd. / Apr 11 Leather Up Limited(LEUL)	25.50 ▼ -2.79 (-9.86%)
National Silk / Apr 11 The National Silk & Rayon Mills Limited(NSRM)	30.75 ▼ -3.25 (-9.56%)
Noon Sugar / Apr 11 Noon Sugar Mills Limited(NONS)	71.10 ▼ -6.61 (-8.51%)
Masood Textile / Apr 11 Masood Textile Mills Limited(MSOT)	52 ▼ -4.8 (-8.45%)
Idrees Tex. / Apr 11 Idrees Textile Mills Limited(IDRT)	18.41 ▼ -1.62 (-8.09%)
Apna Microfin. / Apr 11 Apna Microfinance Bank Limited(AMBL)	10.56 ▼ -0.83 (-7.29%)
Shadab Textile / Apr 11 Shadab Textile Mills Limited(SHDT)	21 ▼ -1.59 (-7.04%)
Nimir Resins / Apr 11 Nimir Resins Limited(NRSL)	33 ▼ -2.35 (-6.65%)

Stock	Volume
Cnergyico PK / Apr 11 Cnergyico PK Limited(CNERGY)	86,573,180 ▼ -0.16
K-Electric Ltd. / Apr 11 K-Electric Limited(KEL)	57,922,646 ▼ -0.08
Sui South Gas / Apr 11 Sui Southern Gas Company Limited(SSGC)	44,734,661 ▲ 0.27
Pak Int.Bulk / Apr 11 Pakistan International Bulk Terminal(PIBTL)	37,973,873 ▼ -0.29
Pak Elektron / Apr 11 Pak Elektron Limited(PAEL)	35,876,957 ▲ 2.02
Citi Pharma Ltd / Apr 11 Citi Pharma Limited(CPHL)	22,788,224 ▲ 3.29
Maple Leaf Cement / Apr 11 Maple Leaf Cement Factory Limited(MLCF)	21,075,820 ▼ -0.76
Fauji Cement / Apr 11 Fauji Cement Company Limited(FCCL)	19,242,425 ▼ -0.96
WorldCall Telecom / Apr 11 Worldcall Telecom Limited(WTL)	16,890,477 ▼ -0.02
Power Cement / Apr 11 Power Cement Limited(POWER)	13,980,877 ▲ 0.03

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