News Archives for Print - 2020-03-31

Print - 2020-03-31

'Don't lay off your employees,' PM urges industrialists

Announcing the establishment of "PM Corona Relief Fund", prime minister Imran Khan on Monday stated that State Bank of Pakistan (SBP) had decided to provide cheap loans to the industries who would not be laying off their employees.

Published 31 Mar, 2020 12:00am

US, Russia agree to oil market talks as Trump calls price war 'crazy'

US President Donald Trump and Russian President Vladimir Putin agreed during a phone call on Monday to have their top energy officials meet to discuss slumping global oil markets, the Kremlin said, as Trump called Russia's price war with Saudi Arabia "cra

Published 31 Mar, 2020 12:00am

Brent hits 18-year low, US crude dips below $20/bbl

Global oil benchmark Brent crude plunged to its cheapest in 18 years on Monday, while US crude briefly tumbled below $20 per barrel, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.

Published 31 Mar, 2020 12:00am

21 deaths reported across country so far: Zafar

Special Assistant to Prime Minister (SAPM) on National Health Dr Zafar Mirza on Monday said that so far 21 deaths had been reported in the country, adding in the coming days the number of recovered coronavirus patients would increase.

Published 31 Mar, 2020 12:00am

Deserving families: Delivery of ration, food supplies to be ensured: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan Sunday said that the Prime Minister has renewed his pledge of ensuring delivery of ration and food supplies to deserving poor families across the country at the

Published 31 Mar, 2020 12:00am

Pakistan to see marked weakening in debt metrics: Moody's

Pakistan would see a marked weakening in debt metrics because of large gross borrowing needs that raise interest payments when borrowing costs rise, and/or narrow revenue bases that push fiscal deficits wider when interest payments rise, says Moody's Inve

Published 31 Mar, 2020 12:00am

Exporters seek coordinated 'Plan B'

The country's exporters have urged the federal government to prepare a coordinated "Plan B" by taking them on board to deal with devastating affects of COVID-19 on economy instead of just issuing statements.

Published 31 Mar, 2020 12:00am

Stocks

KSE-100 Index tumbles: BRIndex100 flat

Pakistan Stock Exchange Monday witnessed a declining trend as investors remained on the selling side due to their concerns over the deadly coronavirus spread.

Published 31 Mar, 2020 12:00am

Energy contracts: Government seeks to declare force majeure clause

The stakeholders are in discussion at different levels to declare force majeure on LNG and IPPs as per contracts due to COVID-19.

Published 31 Mar, 2020 12:00am

Imports, exports and transit trade: Cabinet to approve NSW Bill today

The Cabinet will approve National Single Window (NSW) Bill 2020 of Ministry of Finance on Tuesday (March 31), official sources told Business Recorder.

Published 31 Mar, 2020 12:00am

Rs 1.2 trillion stimulus package approved by ECC

A special meeting of the Economic Coordination Committee (ECC) of the Cabinet on Monday gave approval to the fiscal stimulus package of Rs1.2 trillion announced by Prime Minister Imran Khan in the wake of coronavirus pandemic.

Published 31 Mar, 2020 12:00am

Passenger train operations will remain suspended: Rashid

Passenger train operations will remain suspended due to rising tally of coronavirus pandemic; however, freight trains will continue as usual in order to ensure smooth supply of essential commodities across the country.

Published 31 Mar, 2020 12:00am

SC restrains courts from releasing UTPs till April 1

The Supreme Court Monday, refrained high courts and the provincial, the Islamabad Capital Territory (ICT) and the Gilgit-Baltistan governments, from passing further orders to release under-trial prisoners in view of the coronavirus pandemic until April 1.

Published 31 Mar, 2020 12:00am

'Trading and self-clearing' category: SECP revises financial resources requirements

The Securities and Exchange Commission of Pakistan (SECP) has revised Financial Resources Requirements of "trading and self-clearing" category of securities brokers.

Published 31 Mar, 2020 12:00am

NSS investors: Cabinet may approve amendments in rules today

The Federal Cabinet, which is scheduled to meet on Tuesday (today) with Prime Minister Imran Khan in the chair, will approve amendments in rules regarding nominee in case of death of investor in National Savings Schemes (NSS), well-informed sources told <

Published 31 Mar, 2020 12:00am

Facebook offers $100m to help virus-hit news media

Facebook said Monday it was donating $100 million to support news organizations globally hurting from the coronavirus pandemic, citing the need for reliable information about the crisis.

Published 31 Mar, 2020 12:00am

Revenue collection: FBR asks govts to exempt tax officials from lockdown

The Federal Board of Revenue (FBR) has requested the federal and the provincial governments to make the FBR's field offices (Customs/Inland Revenue) fully operational and exempt the tax officials of the FBR from lockdown to maximise revenue collection in

Published 31 Mar, 2020 12:00am

Foreign investors repatriate $974m in 8 months

Foreign investors repatriated some $974 million on account of profit and dividend during the first eight months of the current fiscal year (FY20).

Published 31 Mar, 2020 12:00am

Summit Bank Limited: Lootah wants to acquire majority shareholding

Nasser Abdullah Hussain Lootah, a Dubai-based businessman has shown intention to acquire majority shareholding (at least 51 percent) of Summit Bank Limited.

Published 31 Mar, 2020 12:00am

SKMT board member appointed BoI chairman

The federal government has appointed a board member of Shaukat Khanum Memorial Trust (SKMT) as Chairman Board of Investment (BoI). Federal Cabinet through a circular appointed Atif Bokhari as Chairman BoI. Atif Bokhari is part of 12-member honorary board

Published 31 Mar, 2020 12:00am

Letters

Coronavirus spectre

Economists and industrialists had termed the 75 basis points (bps) reduction in policy rate by the State Bank of Pakistan (SBP) 'nominal' and a 'joke' and not an appropriate response to deal with the coronavirus challenge and domestic ground realities. A

Published 31 Mar, 2020 12:00am

Articles

Demand explodes for New York food banks

New York food banks have become inundated with newcomers deprived of income since the near-total halt of business in the United States' economic capital.

Published 31 Mar, 2020 12:00am

Articles

Origins and challenges of coronavirus pandemic

The current COVID-19 illness gripping the world is caused by the coronavirus SARS-CoV-2, the second severe acute respiratory syndrome virus to emerge since 2002. As a result of its rapid spread, whole cities, regions, even countries are in lockdown, with

Published 31 Mar, 2020 12:00am

Articles

Coronavirus: Economic impact and relief package

The Coronavirus has already spread to 199 countries. The worst hit countries have been the EU countries, the US, China and Iran. The consequences are that normal economic activity, both in the domestic economy of these countries and their external economi

Published 31 Mar, 2020 12:00am

Not letting our guard down

The coronavirus pandemic fatalities toll in Pakistan is still comparatively low at 21 deaths so far, especially compared to countries like China, Italy, Spain and the US. But this should not lull us into complacency since the number of cases is still risi

Updated 02 Apr, 2020 09:14am

RFI from IMF

Managing Director International Monetary Fund (IMF) Kristalina Georgieva in a statement on Pakistan pledged disbursement of its Rapid Financing Instrument (RFI) that would allow the government to meet "additional and urgent balance of payments needs and s

Updated 02 Apr, 2020 09:14am

COVID-19 outbreak: Hashoo Group closes hotels, postpones all projects

Hashoo Group in these troubled times is ensuring practicality of having a disaster preparedness and business continuity plan by ensuring safety and mitigating risks to employees as much as possible.

Published 31 Mar, 2020 12:00am

MOL Pakistan donates Rs 3 million to establish four quarantines

Under its corporate social responsibility program, the MOL Pakistan Oil and Gas Company BV has donated Rs 3 million to establish four quarantine facilities at various locations in the federal capital.

Published 31 Mar, 2020 12:00am

Inquiry into Covid-19 spread: IHC dismisses plea seeking judicial commission

The Islamabad High Court (IHC) said it was not a time to raise controversies or to doubt the intention of the State and its functionaries in meeting the challenges posed by the deadly COVID-19.

Published 31 Mar, 2020 12:00am

Situation in the wake of resumption of international flights reviewed

A high-level meeting at the Foreign Office on Monday reviewed the situations in the aftermath of possible resumption of international flight operations from the country's airports after April 4, besides other steps to prevent the spread of the COVID-19 pa

Published 31 Mar, 2020 12:00am

Taxes

FBR extends deadline for filing goods declaration

The Federal Board of Revenue (FBR) has extended time period for filing of goods declarations from existing 10 days of arrival of goods to 15 days, for all Import General Manifests (IGMs) filed between March 17, 2020, and April 2020.

Published 31 Mar, 2020 12:00am

COVID-19 pandemic: Qureshi for joint strategy of OIC states

Foreign Minister Shah Mahmood Qureshi on Monday called for a joint strategy of the OIC countries to combat COVID-19 pandemic and protect the people from the virus.

Published 31 Mar, 2020 12:00am

Afghan peace process facing yet another setback

The Afghan peace process is facing yet another setback after Taliban rejected President Ashraf Ghani's 21-member negotiation team for an intra-Afghan dialogue aimed at ending the 19-year long conflict in war-torn Afghanistan.

Published 31 Mar, 2020 12:00am

ICT Admn designates three more buildings as quarantine centres

With the number of coronavirus cases soaring to more than 1,690 in the country and 51 in the capital city, the Islamabad Capital Territory (ICT) Administration on Monday declared three more buildings as quarantine centres and in addition to these centres,

Published 31 Mar, 2020 12:00am

Rapid rise in COVID-19 cases: Ventilators' shortage can potentially pose a serious challenge to government

With the number of COVID-19 patients on the rapid rise in Pakistan coupled with increasing mortality rate, the shortage of ventilators can potentially pose a serious challenge to the government as more patients are likely to be put on ventilators to save

Published 31 Mar, 2020 12:00am

SHC orders officials to have accused in lockups tested for coronavirus

Sindh High Court (SHC) on Monday ordered commissioners and deputy commissioners in the province to carry out screening and tests of coronavirus of the accused remanded in judicial lockup.

Published 31 Mar, 2020 12:00am

Murad orders withdrawal of FIRs against Imams of mosques

Sindh Chief Minister Syed Murad Ali Shah has directed the IG of police to withdraw all the FIRs registered against the Imams of mosques and others for allegedly violating the code of conduct devised for Friday prayers.

Published 31 Mar, 2020 12:00am

Commodities

Gems export soars to $3.459m during July-Feb 2019-20

Pakistan's export of gems soared to $3.459 million during July-Feb 2019-20, up by 30.48 percent, official figures say.

Published 31 Mar, 2020 12:00am

Dua Mangi identifies kidnappers before court

Dua Mangi has identified the kidnappers, who abducted her on November 30, last year, outside a restaurant in Defense House Authority, on Monday.

Published 31 Mar, 2020 12:00am

People in slums suffering from hunger, says Saylani Trust chief

The Chairman of Saylani Welfare Trust, Maulana Bashir Farooqi, has said that 52 percent of Karachi's population who resides in the slum areas is suffering from hunger.

Published 31 Mar, 2020 12:00am

Business & Economy

Expert urges production of raw material indigenously

Economic & Financial Analyst, Ateeq Ur Rehman has said Pakistan has no other choice except to produce all kinds of raw material indigenously, instead of depending on importing them in present circumstances.

Published 31 Mar, 2020 12:00am

Federal govt lags behind in its commitment to fund two Karachi projects

The release of funds from the federal government for two water and sewerage projects of Karachi didn't register any improvement.

Published 31 Mar, 2020 12:00am

Business & Economy

Filing of goods declaration: FPCCI seeks extension in time-limit

President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar said time limit for filing of goods declaration from the existing 10 days has been extended to further 15 days (total 25 days) under section 79(1) of the Custom A

Published 31 Mar, 2020 12:00am

Schools directed to issue monthly fee challans

The Sindh government on Monday has directed private schools across the province to pay full salaries to its teachers on time.

Published 31 Mar, 2020 12:00am

New westerly weather system to unleash rains: Met

The Met Office on Monday forecast another westerly weather system for the country, which is expected to unleash rain until next Wednesday.

Published 31 Mar, 2020 12:00am

Over 5,000 drivers, helpers remain stranded on Afghan border

Despite the announcement of reopening of the Pak-Afghan border by Prime Minister Imran Khan on March 20, over 1,700 loaded vehicles are still stranded, increasing the chances of COVID-19 outbreak in the border areas.

Published 31 Mar, 2020 12:00am

Mayor fixes five graveyards

Mayor Karachi Wasim Akhtar Monday fixed five graveyards of the city for those who die of the novel coronavirus, saying that only few relatives of the deceased would be allowed to attend funerals.

Published 31 Mar, 2020 12:00am

Business & Economy

Sale of goods: PCDMA urges FBR to defer condition of CNIC

Pakistan Chemicals and Dyes Merchants Association (PCDMA) has requested the Federal Board of Revenue (FBR) to defer condition of the CNIC on sale of goods to unregistered persons for six months period, and withdrawal of notices to the commercial importers

Published 31 Mar, 2020 12:00am

Money & Banking

Covid-19: ADB approves further $2 million grant

The Asian Development Bank (ADB) Monday approved a further $2 million grant to support the Government of Pakistan's efforts to combat the coronavirus (COVID-19) pandemic in the country, said a press release issued on Monday.

Published 31 Mar, 2020 12:00am

Business & Economy

Two position papers worth Rs466.264m approved by CDWP

The Central Development Working Party (CDWP) has approved two position papers worth Rs466.264 million, and recommended four position papers worth Rs133 billion to the Executive Committee of the National Economic Council (ECNEC) for consideration.

Published 31 Mar, 2020 12:00am

Business & Economy

PepsiCo launches 'Million of Meals' programme

PepsiCo Pakistan Monday announced launching of 'Million of Meals' programme, an emergency disaster relief package, to meet essential nutrition needs of impacted people all over the country.Through this programme, PepsiCo is partnering with reputed charita

Published 31 Mar, 2020 12:00am

IHC directs federal govt to immediately restore dissolved PMDC

The Islamabad High Court (IHC) on Monday directed the federal government to immediately restore the dissolved Pakistan Medical and Dental Council (PMDC).

Published 31 Mar, 2020 12:00am

21 new cases of local transmission in Karachi

As many as 21 new cases of local transmission of coronavirus cases appeared in Karachi taking the tally to 535 of Sindh. According to the health department, some 41 patients of the deceases have been cured.

Published 31 Mar, 2020 12:00am

ICT to install 20 sanitizing walk-through gates

The Islamabad Capital Administration (ICT) on Monday has decided to install 20 sanitizing walk-through gates at different prominent locations of the city to control the spread of coronavirus. The work on installation of sanitizing walk-through gates has b

Published 31 Mar, 2020 12:00am

Commodities

Prices of essential kitchen items witness further increase

The prices of most essential kitchen items including wheat flour, sugar, pulses and ghee/cooking oil prices have witnessed a further increase, a survey carried out by Business Recorder revealed Monday.

Published 31 Mar, 2020 12:00am

IT & Computers

IT, ITeS export remittances surge 26.24 percent

Pakistan's information technology (IT) and IT-enabled Services (ITeS) export remittances have surged to $887.470 million at a growth rate of 26.24 percent during the first eight months of the fiscal year 2019-2020, compared to $702.990 million during the

Published 31 Mar, 2020 12:00am

Business & Economy

Railways sets up special quarantine coaches

In view of the worsening pandemic of coronavirus, Pakistan Railways has established emergency isolation rooms for the suspected patients of COVID-19 pertaining to its staff and workers.

Published 31 Mar, 2020 12:00am

Articles

Partly Facetious: 'The Khan needs to do a Khan'

"So what do you reckon? First timers are doing a good job?"

Published 31 Mar, 2020 12:00am

Energy

Payment of bills: Mepco refuses to extend date despite ministry's directions

The Multan Electric Supply Company (Mepco) has refused to extend payment date of electricity bills to April 7, despite written directions by the Ministry of Energy issued last week.

Published 31 Mar, 2020 12:00am

Punjab governor for fighting against coronavirus instead of politics

Punjab Governor Chaudhry Mohammad Sarwar has said that coronavirus has gone out of control as it has no boundary and this is not the politics time.

Published 31 Mar, 2020 12:00am

Death toll in Lahore reaches four, seven in Punjab

The death toll on account of novel coronavirus has reached to four in Lahore, seven in Punjab and 20 across the country, as a 41-year patient died here at Mayo Hospital on Monday.

Published 31 Mar, 2020 12:00am

COVID-19 diagnostic lab inaugurated

Punjab University Vice Chancellor Prof Niaz Ahmad inaugurated a diagnostic laboratory to test samples of suspected patients of COVID-19 at Centre for Applied Molecular Biology (CAMB) here on Monday.

Published 31 Mar, 2020 12:00am

Business & Economy

Businessmen want substantial package: FEBR

The business community has expressed dissatisfaction over the financial package announced by the government to cope with the challenges posed by coronavirus, saying it must have taken more steps to give maximum relief to the poverty-stricken people.

Published 31 Mar, 2020 12:00am

Punjab government approves 'CM Punjab Insaaf Imdad Package'

The Punjab government has approved Chief Minister Punjab Insaaf Imdad Package worth Rs10 billion.

Published 31 Mar, 2020 12:00am

Khokha owners multiply prices of cigarettes and paan

The 'khokha' owners in the provincial capital have significantly increased the prices of both local and imported (duty free) cigarettes and paan after the government imposed a 14-day lockdown in Punjab amid growing spread of coronavirus outbreak.

Published 31 Mar, 2020 12:00am

LGH to set up corona wards in private hospitals

The administration of Lahore General Hospital has completed the pre-arrangements of setting up corona wards and ICUs in two nearby private hospitals and also finalised the duty roster of doctors and paramedics in this regard.

Published 31 Mar, 2020 12:00am

2,400 medical stores go on strike in Balochistan

More than 2,400 medical stores across Balochistan including Quetta shut down their businesses on Monday due to the complete strike in protest against sealing of three medical stores by the authorities in Quetta.

Published 31 Mar, 2020 12:00am

Taxes

An alternate sales tax refund system for exporters

The current system of sales tax refunds for value added textile exports is not working. It has been over eight months that the government has devised a computerized refund system, which in theory should process the exporter's application in 72 hours witho

Published 31 Mar, 2020 12:00am

Brief Recordings

Interview with Dr. Shimail Daud, CEO, Maryam Memorial Hospital: 'Shortage of specially-trained ICU physicians is a bigger issue than shortage of ventilators'

With a background of being a physician, Dr. Shimail Daud is a prominent name in healthcare management in Pakistan. He is the CEO of Maryam Memorial Hospital, which has two facilities in Rawalpindi and Islamabad providing a range of clinical, diagnostic an

Updated 31 Mar, 2020 04:16am

Money & Banking

Singapore eases monetary policy

Singapore's central bank eased monetary policy Monday as the city-state, seen as a bellwether for the health of global trade, heads for a deep recession due to the coronavirus pandemic.

Published 31 Mar, 2020 12:00am

Global Business Economy

France urges companies to not pay dividends

France stepped up Monday its calls for firms using state aid to keep afloat during the coronavirus crisis to not pay out dividends to shareholders this year.

Published 31 Mar, 2020 12:00am

Global Business Economy

London's Ritz Hotel sold to Qatari investor

Luxury London hotel The Ritz, currently shut owing to the coronavirus outbreak, has been sold to a Qatari buyer, lawyers overseeing the deal have confirmed, for reportedly just under $1.0 billion.

Published 31 Mar, 2020 12:00am

Money & Banking

Lebanon banks halt dollar withdrawals

Banks in cash-strapped Lebanon have suspended dollar withdrawals until the airport reopens, a banking source said on Monday, after authorities grounded flights to halt the spread of the novel coronavirus.

Published 31 Mar, 2020 12:00am

Money & Banking

IMF urges Kuwait to reduce oil dependence, boost savings

Kuwait needs to urgently reduce its dependence on oil revenues and boost savings, despite its vast financial buffers and low levels of debt, the International Monetary Fund said on Monday.

Published 31 Mar, 2020 12:00am

Global Business Economy

EU suspends slot rules for airlines

The EU on Monday suspended its "use-it-or-lose-it" rules governing slots at airports in an emergency measure for airlines already largely grounded by the coronavirus crisis.

Published 31 Mar, 2020 12:00am

Global Business Economy

Eurozone sentiment in record plunge

Eurozone sentiment suffered its steepest ever monthly decline in March as the coronavirus led to declining confidence among consumers and all sectors of the economy, in many cases even before crippling lockdowns were imposed.

Published 31 Mar, 2020 12:00am

Money & Banking

China slashes rate, pumps $7 billion into market

China's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan ($7 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.

Published 31 Mar, 2020 12:00am

One dead, 127 hurt in China passenger train derailment

One person was killed and 127 injured when a passenger train derailed in central China on Monday after striking debris from a landslide that had fallen to the track, the state-run railway system said.

Published 31 Mar, 2020 12:00am

Greek resistance hero Glezos dies

Greece's foremost anti-Nazi resistance hero Manolis Glezos died in a hospital Monday at the age of 97, state TV ERT said. ERT said the wartime icon, who had been hospitalised earlier this month with gastroenteritis and a urinary infection, had died of hea

Published 31 Mar, 2020 12:00am

All journalists jailed globally must be freed amid COVID-19 pandemic

The Committee to Protect Journalists on Monday launched the FreeThePress campaign to call for the unconditional release of all jailed journalists to ensure their safety during the COVID-19 pandemic.

Published 31 Mar, 2020 12:00am

Somali governor killed in Al-Shabaab suicide blast

A governor in Somalia's Puntland has been killed in a suicide bombing claimed by the al-Shabaab jihadist group, police and hospital sources said Monday. Abdisalan Hassan Hersi, governor of Nugaal region, succumbed to his injuries after being rushed to hos

Published 31 Mar, 2020 12:00am

Prince Charles out of virus isolation

Prince Charles, the eldest son and heir of Queen Elizabeth II, is no longer in quarantine after showing mild coronavirus symptoms, his office said on Monday. "Clarence House has confirmed today that, having consulted with his doctor, the Prince of Wales i

Published 31 Mar, 2020 12:00am

Taliban kill dozens of Afghan forces in two attacks

The Taliban have killed about two dozen Afghan police and pro-government fighters, officials said Monday, in two attacks that come as the foes are supposed to be preparing for peace talks.

Published 31 Mar, 2020 12:00am

AI tool predicts which coronavirus patients get deadly 'wet lung'

Researchers in the US and China reported Monday they have developed an artificial intelligence tool that is able to accurately predict which newly infected patients with the novel coronavirus go on to develop severe lung disease.

Published 31 Mar, 2020 12:00am

Coronavirus deaths top 35,000 worldwide, most in Europe

More than 35,000 people have died worldwide from the coronavirus pandemic since it emerged late last year in China, most of them in Europe, according to an AFP tally at 1615 GMT Monday using official figures.

Published 31 Mar, 2020 12:00am

New York welcomes hospital ship as coronavirus accelerates

A hospital ship arrived in New York Monday as America's coronavirus epicenter prepares for the peak of the pandemic, with emergency restrictions extended amid grim warnings about the death toll.

Published 31 Mar, 2020 12:00am

Commodities

Turkey provisionally buys wheat

Turkey's TMO state grain board has provisionally purchased about 175,000 tonnes of wheat in a series of tenders that closed on Friday, European traders said.

Published 31 Mar, 2020 12:00am

Commodities

CBOT soyabean futures firm

Chicago Board of Trade soyabean futures edged higher on Friday, supported by technical buying and worries that measure to curb the coronavirus pandemic could curb South American soya shipments, traders said.

Published 31 Mar, 2020 12:00am

Commodities

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,539. The traded value of metals, energy and COTS/FX was recorded at PKR 5.225 billion and the number of lots traded was 9,443.

Published 31 Mar, 2020 12:00am

Commodities

Indian rice prices hit three-month low; Thai rates off multi-year peaks

A nationwide lockdown in leading rice exporter India to curtail the spread of the coronavirus pushed export prices to the lowest in about three months, while rates for the Thai variety came off multi-year peaks due to fluctuations in the local currency.

Published 31 Mar, 2020 12:00am

Energy

Asia's naphtha dives; virus worries hurt gasoline

Asia's naphtha crack dived 62% to end the week at a three-session low of $9.08 a tonne on worries that a bleak economic outlook could prompt crackers to keep their throughput at reduced rates.

Published 31 Mar, 2020 12:00am

Business & Economy

Activities at Karachi Port and Port Qasim

The Karachi Port handled 68,814 tonnes of cargo comprising 36,939 tonnes of import cargo and 31,875 tonnes of export cargo including 3,187 loaded and empty containers during the last 24 hours ending at 0700 hours on Monday.

Published 31 Mar, 2020 12:00am

Cotton & Textile

Absence of growers may delay cotton sowing

In the absence of required number of farmers and growers in the field may cause delay in cotton sowing, leading sources informed on phone on Monday. The official spot rate was unchanged at Rs8800, dealer said.

Published 31 Mar, 2020 12:00am

Commodities

CBOT corn futures lower ahead of USDA data

Chicago Board of Trade corn futures ended lower on Friday on position-squaring ahead of the weekend and the US Department of Agriculture's March 31 US planting intentions and quarterly stocks reports, traders said.

Published 31 Mar, 2020 12:00am

Commodities

Euronext wheat futures rise on brisk demand

Euronext wheat futures rose on Friday, supported by brisk export demand for European Union origins and a Russian proposal to set a grain export quota that kept attention on potential supply tensions from the coronavirus epidemic.

Published 31 Mar, 2020 12:00am

Stocks

Weak oil, fears of prolonged lockdowns weigh on ME stocks

Most bourses in the Middle East fell on Monday, weakened by a combination of lower oil prices and intensified fears that the global coronavirus shutdown could last for months.

Published 31 Mar, 2020 12:00am

Stocks

Japanese shares drop

Japanese stocks retreated on Monday as the coronavirus outbreak worsened over the weekend and more countries imposed or tightened lockdown measures, raising fears that Tokyo could also go into its first-ever lockdown.

Published 31 Mar, 2020 12:00am

Stocks

China shares down

China stocks ended lower on Monday as investor concerns over coronavirus-driven global shutdowns overshadowed an unexpected rate cut by the country's central bank. At the close, the Shanghai Composite index was down 0.9% at 2,747.21.

Published 31 Mar, 2020 12:00am

Stocks

FTSE 100 moves higher

The UK's exporter-heavy FTSE 100 closed higher on Monday, helped by a jump in AstraZeneca's shares and a weaker pound, but the prospect of a prolonged coronavirus-led shutdown in Britain weighed on midcap shares.

Published 31 Mar, 2020 12:00am

Stocks

Southeast Asian markets fall

Southeast Asian stock markets closed lower on Monday as rising cases of the coronavirus in the region deepened fears of economic damage, with investors looking past moves by governments and central banks to combat the pandemic.

Published 31 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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