News Archives for Print - 2020-04-02

Print - 2020-04-02

Covid-19 versus economic output: Government struggles to strike much-needed balance

The federal government has decided to restore some industries and has tasked the Ministry of Industries and Production to prepare SOPs (Standard Operating Procedures) in order to allow these industrial sectors to operate 'to an appropriate level' as part

Published 02 Apr, 2020 12:00am

Stocks

Insurance companies, Takaful operators: SECP withdraws circular No 18 of 2016

The Securities and Exchange Commission of Pakistan (SECP) has withdrawn its direction to the insurance companies and Takaful operators to submit a statement of branch network along with the statutory returns filed under Insurance Ordinance, 2000.

Published 02 Apr, 2020 12:00am

US Navy captain says carrier faces dire coronavirus threat

The captain of the US nuclear-powered aircraft carrier Theodore Roosevelt told the Pentagon that new coronavirus is spreading uncontrollably through his ship and called for immediate help to quarantine its crew. But Defense Secretary Mark Esper on Tuesday

Published 02 Apr, 2020 12:00am

World could face food crisis: UN, WTO

The heads of three global agencies warned Wednesday of a potential worldwide food shortage if authorities fail to manage the ongoing coronavirus crisis properly.

Published 02 Apr, 2020 12:00am

Stocks

KSE-100 Index extends gains: BRIndex100 inches up

Shrugging off foreign selling, Pakistan Stock Exchange Wednesday witnessed a positive trend on the back of healthy buying, mainly by local investors.

Published 02 Apr, 2020 12:00am

AGMS, statements: SECP gives regulatory relief to corporate sector

The Securities and Exchange Commission of Pakistan (SECP) Wednesday announced regulatory relief for the corporate sector to dilute the impact of the coronavirus on working of companies across Pakistan. The SECP has issued a notification here on Wednesday

Published 02 Apr, 2020 12:00am

Sindh extends lockdown period till 14th

The Sindh government has decided to extend the period of lockdown in the province to April 14. This was stated during a meeting of the Coronavirus Task Force held under the chairmanship of Sindh Chief Minister Syed Murad Ali Shah here at the CM House.

Published 02 Apr, 2020 12:00am

Federal government decides to extend lockdown

The federal government on Wednesday decided to extend the lockdown to counter the novel coronavirus for another fortnight (till April 14).

Published 02 Apr, 2020 12:00am

No segment of society can be left at Covid-19 mercy: COAS

Chief of Army Staff General Qamar Javed Bajwa on Wednesday said that, "we can address all vulnerabilities only through a coherent national effort, before they turn into threats."

Published 02 Apr, 2020 12:00am

Firms involved in forward selling won't be given compensation: Razak

Advisor to the Prime Minister on Commerce, Industries and Production and Investment, Abdul Razak Dawood on Wednesday accused some "big" firms of selling forward dollars and seeking billions of rupees from national kitty to cover losses. "A few firms made

Published 02 Apr, 2020 12:00am

Dasu power project: WB approves $700 million additional financing

The World Bank (WB) Board of Directors has approved a $700 million additional financing for Dasu Hydropower Project to help Pakistan generate low-cost, renewable energy, to ensure affordable electricity supply to millions of users.

Published 02 Apr, 2020 12:00am

Principal loans: NBFCs, NBMFCs allowed to defer repayment for one year

The Securities and Exchange Commission of Pakistan (SECP) on Wednesday allowed all lending Non-Bank Finance Companies (NBFCs) including Non-Bank Microfinance Companies (NBMFCs) to defer repayment of principal loans by their borrowers for one year, under t

Published 02 Apr, 2020 12:00am

Saudi urges Muslims to defer Hajj plans over virus

Saudi Arabia's Hajj minister asked Muslims on Tuesday to temporarily defer preparations for the annual pilgrimage amid uncertainty over the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

PSX plunges by 8,752 points in March

Pakistan Stock Exchange remained under severe selling pressure and the KSE-100 index plunged by 8,752 points or 23.0 percent during March 2020, the worst ever monthly decline after December 2008.

Published 02 Apr, 2020 12:00am

Punjab government defers Rs 18 billion tax collection

In order to mitigate the impact of COVID-19, the Punjab government has deferred Rs18 billion provincial taxes for three months. According to the provincial tax authorities, a notification to defer the taxes has been issued in line with the decision of cab

Published 02 Apr, 2020 12:00am

Rs 59 billion claims: Rs 56 billion GST refunds sanctioned via Faster system: FBR

The Federal Board of Revenue (FBR) has so far sanctioned Rs56 billion sales tax refunds through the FASTER (Fully Automated Sales Tax e-Refund) system since July 2019 against the claimed amount of Rs59 billion, reflecting 95 percent payments.

Published 02 Apr, 2020 12:00am

FBR directed to expedite process of refunds

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday directed the Federal Board of Revenue (FBR) to expedite the process of refunds after business community requested for speedier refunds.

Published 02 Apr, 2020 12:00am

CPI inflation eases to 10.2 percent YoY

The Consumer Price Index-based inflation on the national level has eased down to 10.2 percent on year-on-year (YoY), Pakistan Bureau of Statistics (PBS) said.

Published 02 Apr, 2020 12:00am

PM's Corona Relief Tigers Force: Registration formally opens

Registration of Prime Minister's Corona Relief Tigers Force on Prime Minister's Citizen Portal was formally opened for youth across the country on Wednesday.

Published 02 Apr, 2020 12:00am

Covid-19 Pandemic Relief: PM asks people to make donations

Prime Minister Imran Khan on Wednesday asked everyone to donate to the COVID-19 Pandemic Relief Fund, promising that it would be used to take care of those who have been made destitute by the lockdown.

Published 02 Apr, 2020 12:00am

Indian cricketers face backlash for supporting Pakistan virus fund

Indian cricketers Yuvraj Singh and Harbhajan Singh have unleashed a social media storm by backing former Pakistan captain Shahid Afridi's foundation in its fight against the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Umar emerges as principal voice to highlight government's steps

Federal Minister for Planning, Development and Special Initiatives Asad Umar has emerged as the main voice of the government to appropriately project its measures/decisions focused on minimizing the impact of the coronavirus on all sections of society, pa

Published 02 Apr, 2020 12:00am

Letters

Cuba's medical internationalism

That Cuba has a history of sending medical teams to nations in crisis is a fact. Cuban doctors, for example, had lent a helping hand to us following the devastating 2005 earthquake in our country. This island nation in the Caribbean Sea has sent its docto

Published 02 Apr, 2020 12:00am

Articles

The rent is due but many Americans can't pay the bills

The coronavirus pandemic took Brittany Brook's job on March 16, two days after it took her husband Matthew Whitfield's, leaving the New York couple scrambling as end-of-the-month bills come due.

Published 02 Apr, 2020 12:00am

Articles

When challenges offer opportunities - II

The PTI government, compelled to borrow more at high interest rate, does not know that billions are lying unpaid with industrial undertakings/employers. Thus the issue is not that of funds but getting due taxes/levies from the wealthy and tax evaders and

Published 02 Apr, 2020 12:00am

Articles

The good go early

The world was fixated with Coronavirus, computing human and economic losses. For Mansoor Hassan Siddiqui summons from the Almighty came in a different form: a weird gas explosion at home. He was rushed to PIMS and the Doctors there did all they could but

Updated 27 Nov, 2022 07:11pm

Protect prisoners from coronavirus

Social distancing is vital to curbing the spread of coronavirus. Yet many have continued to throw caution to the winds, forcing federal and provincial governments to order varying levels of restrictions on social interaction. One category of people who do

Updated 02 Apr, 2020 09:14am

Yemen's unending agony

Tit-for-tat strikes, in that order, by Houthi rebels and the Saudi-led Arab coalition reproduce the pattern that defines the protracted war in Yemen. This time, Saudi Arabia's Air Defence Forces intercepted and destroyed one ballistic missile over Riyadh,

Updated 02 Apr, 2020 09:14am

More clarity about the concessions, please

The prime minister said we must fight the coronavirus with wisdom and once again ruled out the possibility of a complete lockdown of the whole country to protect those at the very bottom of the food chain. But then, when praising China as "the only countr

Updated 02 Apr, 2020 09:14am

Covid-19: Shehbaz seeks CCI meeting on daily basis

Expressing concern over surge in the number of corona patients within two days, Pakistan Muslim League-Nawaz (PML-N) president Shahbaz Sharif has demanded that meetings of Council of Common Interests (CCI) should be held on daily basis, to discuss the cor

Published 02 Apr, 2020 12:00am

Prisoners' swap: Three-member Taliban delegation holds talks with Afghan govt

In a latest development targeted to pave the way for intra-Afghan negotiations, a three-member Taliban delegation has held talks with Afghan government on prisoners' swap, a condition which was agreed in U.S.-Taliban peace deal signed on February 29, 2020

Published 02 Apr, 2020 12:00am

Coronavirus: Speaker summons parliamentary body's meeting on 6th

The National Assembly Speaker, Asad Qaiser, on Wednesday summoned parliamentary committee's meeting on the coronavirus on April 6th to review the effects of the pandemic on the country.

Published 02 Apr, 2020 12:00am

Pindi, Islamabad: Markets raided to check prices, 'social distancing'

The district administration of the twin cities of Rawalpindi and Islamabad on Wednesday continued raids at various markets to check the prices and supply of essential commodities as well as campaign to bring awareness with respect to "social distancing" t

Published 02 Apr, 2020 12:00am

Business & Economy

Bilour seeks special relief package for small traders

The United Business Group (UBG) senior leader Ilyas Ahmad Bilour has demanded of the government to immediate announce a special relief package for small traders and shopkeepers whose businesses have adversely affected due to closure of markets, commercial

Published 02 Apr, 2020 12:00am

Japan to provide $2m grant: Hammad

The Government of Japanese will provide $2 million in grant assistance to Pakistan for dealing with coronavirus (COVID-19).

Published 02 Apr, 2020 12:00am

Twin cities' utility stores face acute shortage of flour, pulses & sugar

An acute shortage of wheat flour, pulses and sugar has erupted at government operated Utility Stores across the twin cities owing to imposition of lockdown, Business Recorder observed here on Wednesday.

Published 02 Apr, 2020 12:00am

PML-N criticises PTI govt's 'ineffective' response

The Pakistan Muslim League-Nawaz (PML-N) on Wednesday criticised the Pakistan Tehreek-e-Insaf (PTI) government's "ineffective" response to deal with the coronavirus pandemic, and also stated that the party would soon announce "National Action Plan" for fi

Published 02 Apr, 2020 12:00am

Minus Gilgit & Skardu: Domestic flight operations to remain suspended till 11th

The federal government on Wednesday decided to extend suspension of all types of domestic scheduled/non-scheduled, chartered, private aircraft and general aviation operations with effect from Thursday 2nd of April to 11th of April 2020.

Published 02 Apr, 2020 12:00am

Labs, clinics & hospitals: PHC orders KPHCC to ensure uniformity in fees

The Peshawar High Court (PHC) on Wednesday ordered the Khyber Pakhtunkhwa Healthcare Commission (KPHCC) to fix and bring uniformity in fees of all laboratories, clinics and hospitals.

Published 02 Apr, 2020 12:00am

DC & RPO inspect availability & prices of essential items

Divisional Commissioner Ishrat Ali along with RPO Raja Rafat Mukhtar started inspection of Super Stores and checked the availability, quality and prices of essential items at DC counters. They went to Imtiaz Mart, AlFateh Store, Metro and other stores and

Published 02 Apr, 2020 12:00am

SC asks Centre, provinces to furnish report of steps taken for tackling lethal virus

The Supreme Court directed the federal, all the four provinces, the Gilgit-Baltistan governments and the Islamabad Capital Territory (ICT) Administration to file comprehensive report about expected threats of coronavirus in their respective territories an

Published 02 Apr, 2020 12:00am

Money & Banking

UBL declared Pakistan's Best Digital Bank by Asiamoney

UBL has been declared Pakistan's Best Digital Bank for 2020 by Asiamoney, an associate of Euromoney.

Published 02 Apr, 2020 12:00am

Telecommunication

Huawei announces solid business performance

Huawei released its 2019 Annual Report, detailing a solid business performance. The company's global sales revenue in 2019 rounded off at $123 billion, up 19.1 percent year-on-year; its net profit reached $9 billion; and its cash flow from operating activ

Published 02 Apr, 2020 12:00am

17 coronavirus patients recover in Quetta

At least 17 coronavirus-affected persons who had earlier tested positive for coronavirus in Quetta have recovered and tested negative. Chief Minister Balochistan Jam Kamal Khan in his tweet said that 17 persons, admitted at Shaikh Zayed Hospital, have rec

Published 02 Apr, 2020 12:00am

PSP chief apprises governor of fishermen's problems

Chairman Pak Sarzameen Party (PSP) Mustafa Kamal on Wednesday contacted Governor Sindh Imran Ismail to apprise him of the difficulties of fishermen at coastal belt of the province due to lockdown.

Published 02 Apr, 2020 12:00am

Telecommunication

PTA informed: Global, Netflix take steps to ease out stress on national telecom networks

Global service providers including Google and Netflix have informed the Pakistan Telecommunication Authority (PTA) about various steps they have been taking to support and ease out stress on national telecommunications networks in the wake of the COVID-19

Published 02 Apr, 2020 12:00am

Telecommunication

Fight against coronavirus pandemic: Ufone to help PRCS create awareness

A leading telecom company has taken a number of initiatives to facilitate their customers and support the national effort in fighting the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Business & Economy

FPCCI urges PM to form ZTBL's BoD

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged Prime Minister Imran Khan to constitute the Board of the Directors of the Zarai Taraqiati Bank Limited (ZTBL) as there is no board since years.

Published 02 Apr, 2020 12:00am

IHC moved against removal of KPT chairman

The Islamabad High Court (IHC) has been urged to direct the federal government to remove Rear Admiral Jamil Akhtar (retired) incumbent as chairman Karachi Port Trust (KPT).

Published 02 Apr, 2020 12:00am

Covid-19: PDP chief for setting up more healthcare facilities

A ready building of government hospital at NIPA Chowrangi Karachi is one of the ideal sites for setting up a coronavirus treatment center, said Pasban Democratic Party (PDP), Chairman Altaf Shakoor.

Published 02 Apr, 2020 12:00am

Cricket

Mandatory biometric test: Hafeez raises doubts over ICC regulation

With a demand to declare biometric test mandatory for all bowlers especially fast bowlers; Pakistani allrounder Mohammad Hafeez has raised doubts over the International Cricket Council (ICC) regulation that set legal limit of 15 degrees for all bowlers in

Published 02 Apr, 2020 12:00am

Karachi Green Line project: Government to float tender for purchase of buses next month

In the latest developments, the federal government has decided to issue tender next month for the purchase of Karachi Green Line project buses, sources said Wednesday.

Published 02 Apr, 2020 12:00am

Commodities

Gold import up by 9 percent

Pakistan's import of gold grew by 9 percent during July-Feb 2019-20 to $11.188 million, official figures say.

Published 02 Apr, 2020 12:00am

Lawyers Relief Fund: SBC seeks Rs50m grant from govts

Sindh Bar Council (SBC) has established "Lawyers Relief Fund" in view of present crisis caused by coronavirus and sought Rs50 million grant from Federal and Sindh governments for this fund.

Published 02 Apr, 2020 12:00am

Mayor for expediting fumigation campaign

Mayor Karachi Wasim Akhtar on Wednesday directed his subordinates to expedite fumigation campaign especially around food streets of Burnes Road, Boat Basin, Sindhi Muslim Housing Society, Muhammad Ali Housing Society, Hussainabad and Tower.

Published 02 Apr, 2020 12:00am

Money & Banking

SBP, NIBAF launch first online financial literacy course

National Financial Literacy Program for Youth has launched Pakistan's first online financial literacy course which is delivered through an engaging and interactive game.

Published 02 Apr, 2020 12:00am

KE to adopt average billing system to facilitate consumers

In light of the COVID-19 crisis and the city-wide restrictions, K-Electric has notified NEPRA that it will facilitate customers by using the consumption value of either the previous 11 months' average or the corresponding month last year whichever is "low

Published 02 Apr, 2020 12:00am

Business & Economy

PSMA chief for resuming production in all industries

The prolong closure of industry is likely to seriously hit the revenue collection of the government, besides creating massive unemployment.

Published 02 Apr, 2020 12:00am

Articles

Partly Facetious : Khan's anti-corona 'tiger force'

"I have a theory."

Published 02 Apr, 2020 12:00am

IHC turns down plea seeking repatriation of pilgrims from Iran

The Islamabad High Court (IHC) Wednesday turned down a petition seeking the court's directions to bring back Pakistani pilgrims from Iran due to coronavirus outbreak.

Published 02 Apr, 2020 12:00am

Indus Water Treaty: Ministry fails to appoint permanent commissioner

The Ministry of Water Resources has reportedly failed to appoint a permanent Pakistan Commissioner for Indus Water - a very sensitive post dealing with water issues with India within the deadline given by the cabinet, well-informed sources in the Ministry

Published 02 Apr, 2020 12:00am

LEAs recover weapons in raid at KU

Law Enforcement Agencies (LEA) carried out a raid in Karachi University on information obtained from RAW agent Shahid, and recovered weapons, ammunition and maps. According to details, on information provided by RAW agent Shahid alias Mutahida, LEAs carri

Published 02 Apr, 2020 12:00am

Brief Recordings

Lotte Chemical Pakistan Limited

Lotte Chemical Pakistan Limited (PSX: LOTCHEM) was established in 1998. It principally manufactures and sells Pure Terephthalic Acid (PTA) used in producing Polyester fiber, Polyester filament yarn, Polyester film and Polythylene Terephthalate (PET). Thus

Updated 02 Apr, 2020 05:42am

Energy

BP cuts spend by quarter

British energy giant BP on Wednesday slashed its planned spending for 2020 by one quarter and announced a $1.0-billion hit from collapsing oil prices as the coronavirus outbreak destroys demand.

Published 02 Apr, 2020 12:00am

Commodities

UK flour millers ground down by virus-fuelled demand

"Flour is one of those invisible bits of the food chain until it isn't there," said Alex Waugh, director general at Nabim, which represents Britain's millers producing the staple.

Published 02 Apr, 2020 12:00am

IT & Computers

Xerox ends hostile bid to buy HP

Xerox on Tuesday dropped its unwelcomed bid to buy computer and printer maker HP for about $36 billion, blaming market turmoil caused by the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Global Business Economy

Russia reserves $18 billion to counter virus crisis

Russia has earmarked almost $18 billion to battle the COVID-19 pandemic, the prime minister said Wednesday as Moscow imposed a strict lockdown.

Published 02 Apr, 2020 12:00am

Energy

Iraq oil earnings slashed in half in March after price crash

Iraq's revenues from crude sales dropped by nearly half in March, its oil ministry said Wednesday, as a global price crash stokes fears of collapse for the petrol giant.

Published 02 Apr, 2020 12:00am

Global Business Economy

Denmark, Sweden economies expected to contract sharply

Financial institutions in Sweden and Denmark said Wednesday they expected the countries' economies to contract sharply in 2020 because of the crisis caused by the coronavirus outbreak.

Published 02 Apr, 2020 12:00am

Global Business Economy

Factory activity plunges

Factories fell quiet across much of the world in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession.

Published 02 Apr, 2020 12:00am

Lightning strike leaves 20 dead in Congolese capital

Twenty people were killed on Wednesday when a lightning strike damaged a high-voltage power line in a suburb of the Congolese capital Brazzaville, the local mayor and witnesses said.

Published 02 Apr, 2020 12:00am

Key Polisario Front figure Mhamed Khadad dies

Mhamed Khadad, a senior official in the Polisario Front, which seeks independence for the disputed Western Sahara, died Wednesday in Madrid aged 65, Sahrawi authorities said.

Published 02 Apr, 2020 12:00am

6.5 magnitude quake hits US state of Idaho

A 6.5-magnitude earthquake hit the western US state of Idaho on Tuesday with no immediate reports of damage or fatalities.

Published 02 Apr, 2020 12:00am

Iran floods leave 21 dead

Flooding in Iran caused by heavy rainfall has left 21 people dead and one missing, an emergency services spokesman said Wednesday, even as the country battles the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Sri Lanka seizes record $65 million worth of drugs

Sri Lanka's navy seized $65 million worth of crystal methamphetamine and ketamine on Wednesday in the country's biggest drugs bust, officials said.

Published 02 Apr, 2020 12:00am

China reports 1,300 asymptomatic virus cases after public concern

China on Wednesday said it has more than 1,300 asymptomatic coronavirus cases, the first time it has released such data following public concern over people who have tested positive but are not showing symptoms.

Published 02 Apr, 2020 12:00am

NATO warns virus must not hurt defence, with eye on Russia

NATO must not allow the coronavirus pandemic to become a security threat, the alliance's chief said Wednesday, warning that Russia or terror groups could take advantage of the crisis.

Published 02 Apr, 2020 12:00am

Russian plane heads to US with supplies for virus fight

A Russian military plane carrying medical equipment has departed for the United States, the defence ministry in Moscow said Wednesday, as the Kremlin flexes its soft power amid the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Telecommunication

Moscow rolls out mobile tech to enforce virus lockdown

Moscow is rolling out a mobile phone app and scannable bar codes to check whether people are adhering to strict isolation rules during lockdown, an official said Wednesday.

Published 02 Apr, 2020 12:00am

Commodities

Euronext wheat futures flat after USDA crop estimates

Euronext wheat futures ended unchanged on Tuesday as traders scarcely reacted to new US crop estimates from the US Department of Agriculture (USDA), awaiting the outcome of a new import purchase tender from Algeria.

Published 02 Apr, 2020 12:00am

Commodities

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,500.

Published 02 Apr, 2020 12:00am

Commodities

Chinese iron ore picks up, steel futures down

Chinese iron ore futures picked up on Tuesday, fuelled by demand hopes after the world's second-biggest economy reported an unexpected growth in its factory activities in March.

Published 02 Apr, 2020 12:00am

Commodities

CBOT corn falls as USDA projects biggest plantings in eight years

Chicago Board of Trade corn futures fell for a third straight session on Tuesday after the US Department of Agriculture (USDA) projected a larger-than-expected increase in US plantings this spring, traders said.

Published 02 Apr, 2020 12:00am

Business & Economy

Activities at Karachi Ports and Port Qasim

The Karachi Port handled 117,881 tonnes of cargo comprising 65,226 tonnes of import cargo and 52,655 tonnes of export cargo including 7,140 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.

Published 02 Apr, 2020 12:00am

Cotton & Textile

Wait-and-see mood seen on cotton market

Wait-and-see mood adopted by main participants on Wednesday as trading activities remained suspended after the spread of coronavirus, sources at cotton market informed on phone.

Published 02 Apr, 2020 12:00am

Commodities

Canadian canola futures rise

ICE Canadian canola futures rose on Tuesday, bumped on news of talks between Canada and China aimed at sustaining canola trade. Canada and China are in talks to ensure limited Canadian canola seed exports continue even as a year-long trade dispute remaine

Published 02 Apr, 2020 12:00am

Commodities

CBOT soyabean futures firm

Chicago Board of Trade soyabean futures firmed on Tuesday after the US Department of Agriculture (USDA) projected a smaller-than-expected increase in US planted acres this spring, traders said. CBOT May soyabeans settled up 3-3/4 cents at $8.86 per bushel

Published 02 Apr, 2020 12:00am

Commodities

CBOT wheat futures mostly up after USDA pegs acres

Chicago Board of Trade wheat futures ended mostly higher on Tuesday after the US Department of Agriculture (USDA) pegged US acreage and quarterly stocks slightly below average trade estimates, traders said.

Published 02 Apr, 2020 12:00am

Stocks

Japan stocks tumble

Japanese shares plummeted on Wednesday on the first day of the new fiscal year, as investors braced for a potential lockdown of Tokyo, a global recession, and sharp cuts in corporate earnings and dividend payouts due to the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Stocks

Weak oil, recession fears pressure most Gulf stocks

Most Middle Eastern bourses fell on Wednesday, with Dubai leading the losses, hurt by plunging oil prices and the prospect of a deep global recession due to the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Stocks

European shares drop

European shares ended Wednesday lower amid increasingly dire economic readings due to the coronavirus, while bank stocks plummeted as several majors suspended dividend payments.

Published 02 Apr, 2020 12:00am

Stocks

FTSE 100 slides

London's stock markets tumbled on Wednesday as banking shares dived after suspending dividend payments, while plunging factory activity in Britain and elsewhere underlined the severe economic impact of the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Stocks

Wednesday's early trade: Dow falls 600 points

The Dow Jones fell 600 points on Wednesday as investors fled to safe-haven assets after new orders for US-made goods plunged to an 11-year low and the White House issued a dire warning on the US death toll from the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Stocks

Dow posts sharpest quarterly plunge in over three decades

Wall Street's three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the

Published 02 Apr, 2020 12:00am

Stocks

SE Asian stocks lower

Most Southeast Asian markets ended lower on Wednesday as anxiety about the spreading coronavirus and a looming global recession prevailed over regional government efforts to cushion their economies from the pandemic.

Published 02 Apr, 2020 12:00am

Stocks

China stocks down

China stocks finished the first session of the second quarter lower on Wednesday, in line with broader Asia, though losses were capped by hopes Beijing would unveil more measures to bolster the economy hit by the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Money & Banking

Asian units inch lower

Asian currencies eased on Wednesday as investors braced for a steep economic slump in the wake of lockdowns in many countries to contain the coronavirus' spread, although losses were limited by the US Federal Reserve's move to increase dollar liquidity.

Published 02 Apr, 2020 12:00am

Money & Banking

Sterling steadies

Sterling steadied against a buoyant dollar on Wednesday amid a wider selloff in global stock markets as data showed factory activity across the world contracting sharply due to the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Money & Banking

Early trade in New York: dollar gains in NY as steep global economic slump looms

The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.

Published 02 Apr, 2020 12:00am

Money & Banking

Dollar up in Europe

The dollar rallied against riskier currencies on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.

Published 02 Apr, 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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