News Archives for Print - 2020-04-11

Print - 2020-04-11

Businesses offered scheme by SBP to avert layoffs

The State Bank of Pakistan (SBP) has introduced a temporary refinance scheme to incentivize businesses to not lay off their workers during COVID-19 Pandemic. This scheme is expected to ease cash flow constraints of the employers for timely payment of the

Published 11 Apr, 2020 12:00am

PSMA to respond to allegations

Pakistan Sugar Mills Association (PSMA) is all set to submit para-wise reply to the allegations of inquiry committee on sugar headed by Wajid Zia, Director General FIA.

Published 11 Apr, 2020 12:00am

Hasty lockdown lift could spark 'deadly resurgence': WHO

Any premature lifting of restrictions imposed to control the COVID-19 pandemic could lead to a fatal resurgence of the new coronavirus, the World Health Organization warned Friday.

Published 11 Apr, 2020 12:00am

Virus death toll tops 100,000 as Easter kicks off

The global coronavirus death toll topped 100,000 Friday as Easter celebrations around the world kicked off in near-empty churches with billions of people stuck indoors to halt the pandemic's deadly worldwide march.

Published 11 Apr, 2020 12:00am

International obligations: PSO seeks over Rs 100 billion to 'avoid default'

Pakistan State Oil (PSO) has sent an SOS to the government, seeking over Rs 100 billion to avoid default on international obligations, official sources told Business Recorder.

Published 11 Apr, 2020 12:00am

Visit affected areas, PM asks KP CM

Prime Minister Imran Khan here Friday said that the federal government was providing all-out assistance to the provinces to contain spread of coronavirus pandemic.

Published 11 Apr, 2020 12:00am

'Insufficient facilities' to combat virus: SC to resume hearing of suo motu notice on April 13

The Supreme Court will resume suo motu hearing on April 13 regarding steps taken by the federal, all the four provinces and Gilgit-Baltistan governments and Islamabad Capital Territory administration to combat spread of the coronavirus.

Published 11 Apr, 2020 12:00am

Tax on donations to 'Covid-19 Pandemic Relief Fund 2020' exempted

The Federal Board of Revenue (FBR) has exempted income tax on donations/payments made to the Prime Minister's COVID-19 Pandemic Relief Fund, 2020.

Published 11 Apr, 2020 12:00am

World Bank working on repurposing $2bn to help combat Covid-19

The World Bank is working on repurpose of up to $2 billion, to make available to support Pakistan's recovery initiatives of the pandemic through building on safety net programme, supporting employment through public works programme and micro-enterprises,

Published 11 Apr, 2020 12:00am

Stocks

PSX obtains mixed posture: BRIndex100 extends gains

Pakistan Stock Exchange Friday witnessed a mixed trend and closed on a positive note on the back of local investor support.

Published 11 Apr, 2020 12:00am

Inflation declines 0.44 percent in WoW

The weekly inflation during week-ended April 9 against March 26-April 2, 2020 on Week-on-Week (WoW) basis witnessed a reduction of 0.44 percent for combine income group from 125.52 points to 124.97 points, the Pakistan Bureau of Statistic (PBS) revealed.

Published 11 Apr, 2020 12:00am

Saudi, Russia press on with oil cut deal at G20 talks

Top oil nations pushed to finalise a deal on sweeping oil cuts at G20 talks on Friday to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking the lion's share and the United States showing unusual willingness to help out.

Published 11 Apr, 2020 12:00am

Export orders: MoC effort to reach exact number hits snag

Ministry of Commerce (MoC) is reportedly facing a difficult situation with respect to getting the exact number of confirmed export orders as exporters are hiding clients' information fearing that the data of their clients can be accessed by their competit

Published 11 Apr, 2020 12:00am

FBR starts budget preparation process

Given no apparent end in sight in the growing number of coronavirus cases across Pakistan, in an unprecedented move the Federal Board of Revenue (FBR) has started budget preparation exercise by seeking tax proposals from the chief commissioners and collec

Published 11 Apr, 2020 12:00am

Government releases Rs 49.2 billion for Kifalat Programme

The government has released Rs49.2 billion funds for the Kifalat Programme, however, disbursement to those yet to be identified through SMS and the district government is yet to begin.

Published 11 Apr, 2020 12:00am

Procedural discrepancies mar cash distribution programme

The federal government's initiative to provide cash assistance of Rs 12,000 each to 12 million families under Ehsaas Emergency Cash Programme has been described as the largest social welfare drive in the history of Pakistan, yet it is marked with procedur

Published 11 Apr, 2020 12:00am

Steel melting industry expresses its surprise over issuance of SRO

Steel melting industry has expressed surprise over issuance of S.R.O. 295(I)/2020 by the Federal Board of Revenue (FBR) during the ongoing lockdown without any input of the industry, seeking additional information of electricity consumption in the monthly

Published 11 Apr, 2020 12:00am

Punjab government to give tax exemptions to media houses, clear dues

Punjab Information Minister Fayyazul Hassan Chohan said on Friday that the provincial government has decided to give tax exemptions to media houses and clear their outstanding dues so that they don't have to face financial losses due to the ongoing virus

Published 11 Apr, 2020 12:00am

One officer of PD tests positive

The Petroleum Division confirmed that one officer of the Ministry of Energy (Petroleum Division) has been tested positive for the novel coronavirus. The officer was posted in Petroleum House situated at G-5 Islamabad.

Published 11 Apr, 2020 12:00am

Impact of Covid-19 on CPEC

COVID-19 pandemic has spread to more than200 countries and regions causing severe shocks in the whole world. Even though the situation in Pakistan is not that worse as in some countries for the time-being, as the confirmed cases are on the rise, the socia

Published 11 Apr, 2020 12:00am

FASTER system: Dawood to be briefed on refunds/rebates payment on Monday

The Federal Board of Revenue (FBR) will brief Advisor to Prime Minister on Commerce Abdul Razzak Dawood on Monday (April 13) at the FBR House about payment of refunds and customs duty drawback/rebates to exporters under the new centralized system.

Published 11 Apr, 2020 12:00am

37 vehicles carrying goods reach Afghanistan

Trade activities between Pakistan and Afghanistan were restored on Friday as 37 vehicles loaded with transit commodities crossed to Afghanistan via Torkham border crossing.

Published 11 Apr, 2020 12:00am

Letters

Deaths and deaths

According to media reports, Spain has reported 605 new deaths, bringing the country's toll to 15,843 as the number of worldwide deaths approaches 100,000 mark. One must not, however, lose sight of the fact that 605 is the lowest daily tally since March 23

Published 11 Apr, 2020 12:00am

Articles

Virus appears to strike men, overweight people harder

In the emergency rooms of virus hotspots around the world, medical staff are seeing a greater number of men than women suffering severe symptoms of COVID-19, with obesity emerging as another potentially aggravating factor. But experts are still unsure why

Published 11 Apr, 2020 12:00am

Articles

The right incentives

Nowadays, sitting down to write a column, the beginning inevitably is a prayer that by the time it gets published we have won the Virus Wars; a developing country like Pakistan cannot withstand any kind of war for long. And we are probably reaching our li

Published 11 Apr, 2020 12:00am

Articles

Cartelisation in developing countries

Formation of cartels is a global phenomenon and Pakistan is no exception. By definition it is defined as:

Published 11 Apr, 2020 12:00am

New domicile rules for occupied J&K

Eight months after scrapping the special status of occupied Jammu and Kashmir, India's ultra Hindu nationalist government has taken a vital step towards the fulfilment of its real agenda for the disputed region. A notification issued recently has changed

Updated 11 Apr, 2020 08:43am

After reports on sugar and wheat crises

Prime Minister Imran Khan deserves all the praise for making good on his promise to release two FIA investigation reports he had ordered on the recent sugar and wheat shortages that led to sudden hikes in the price of these essential items of daily use. I

Updated 11 Apr, 2020 08:43am

Bracing for poverty and unemployment

It is becoming increasingly clear that the coronavirus pandemic will take a heavy toll of the economy, particularly employment and poverty trends. And it's no surprise that the ones to suffer first, and the most, are the lowest income groups. Still, the f

Updated 11 Apr, 2020 08:41am

PSO appointments: Khaqan, Mirza granted exemption from personal appearances

An accountability court on Friday granted exemption from personal appearance to former prime minister Shahid Khaqan Abbasi and former secretary petroleum Arshad Mirza in a reference pertaining to alleged illegal appointment of managing director Pakistan S

Published 11 Apr, 2020 12:00am

Repatriation of stranded Pakistanis: Provinces blamed for non-cooperation

Foreign Minister Shah Mahmood Qureshi on Friday blamed the provincial governments for non-cooperation in early organised and careful repatriation of stranded Pakistanis abroad, who are waiting to return due to lockdowns in various countries following the

Published 11 Apr, 2020 12:00am

Business & Economy

Umar launches Mobile Utility Store Service

Minister for Planning, Development and Special Initiatives Asad Umar on Friday inaugurated the "Mobile Utility Store Service" (MUSS) for providing relief to the people due to market closures and lockdown in the country.

Published 11 Apr, 2020 12:00am

Telecommunication

Ufone-PRCS partnership on corona: Over 10,000 volunteers registered in one week period

The successful partnership between a leading mobile company and Pakistan Red Crescent Society (PRCS) has lead to registration of over 10,000 volunteers in one week period to provide free of charge helpline to its customers to get updates and information o

Published 11 Apr, 2020 12:00am

Government, private hospitals hesitate to open OPDs

The majority of government and private sector hospitals in the federal capital are yet to fully make their outdoor patient departments (OPDs) operational despite directives issued by the Islamabad Capital Territory (ICT) Administration following Supreme C

Published 11 Apr, 2020 12:00am

Constitution of 'Data Protection Authority' in the offing

The government has decided to constitute "Data Protection Authority" that will work to curb the misuse of data and protect the personal information of the citizens.

Published 11 Apr, 2020 12:00am

Congregational prayer to give rise to virus spread, observes SHC

The Sindh High Court (SHC) has ruled that under the present circumstances, congregational prayer especially Friday prayer, will give rise to spread of the coronavirus potentially constituting a grave threat to public health and welfare.

Published 11 Apr, 2020 12:00am

PM CRT force's selected volunteers to get need-based training

The government will give the required and need-based training to prime minister's Corona Relief Tigers (CRT) force to selected volunteers in order to ensure provision of relief goods to the poor and needy.

Published 11 Apr, 2020 12:00am

Energy

ECC shelves installation of all LPG mix supply plants

The Economic Coordination committee (ECC) of the Cabinet has shelved the execution of the already ECC approved new liquefied petroleum gas (LPG) Air Mix supply Projects by the Sui companies.

Published 11 Apr, 2020 12:00am

Corona Philanthropy Drive: Khurshid made PM's focal person

Prime Minister Imran Khan has appointed Khurshid Alam as his focal person for Corona Philanthropy Drive with immediate effect and until further orders.

Published 11 Apr, 2020 12:00am

Lady SHO attacked by mob for implementing lockdown

The government seemed to be struggling to persuade religious groups to maintain social distancing in order to curb the spread of the virus, as a lady SHO in Orangi Town, Pirabad was attacked by mob when she tried to restrict people from conducting Friday

Published 11 Apr, 2020 12:00am

Taxes

FBR chairperson redesignates posts

Chairperson Federal Board of Revenue (FBR) Nausheen Javaid Amjad on Friday made changes in the FBR Chairman Secretariat and re-designated posts of special officer (SO-I) and SO-II to the post of the director staff and chief FBR Chairman Secretariat, respe

Published 11 Apr, 2020 12:00am

Telecommunication

PTCL Group posts Rs 31.8 billion revenue in Q1 2020

Pakistan Telecommunication Company Limited (PTCL), the country's leading telecom and ICT services provider, has announced its financial results for the quarter ended March 31, 2020 at its Board of Directors meeting held in Islamabad on April 9, 2020.

Published 11 Apr, 2020 12:00am

Money & Banking

Alleviating the hardships of those who obtained loans: SBP, Ministry directed to submit report

The State Bank of Pakistan and the Ministry of Finance are directed to submit a report explaining whether measures have been taken to alleviate the hardships and difficulties faced by the citizens who have obtained loans from the micro-finance entities.

Published 11 Apr, 2020 12:00am

NDMA provides medical equipment to Balochistan

Chairman National Disaster Management Authority (NDMA) Lieutenant. General Muhammad Afzal Friday said additional supplies of safety equipment were provided to the hospitals of Balochistan.

Published 11 Apr, 2020 12:00am

Stocks

SECP relaxes major provisions of NBFCs

The Securities and Exchange Commission of Pakistan (SECP) on Friday relaxed major provisions of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 to facilitate the asset management companies during the coronavirus pandemic.

Published 11 Apr, 2020 12:00am

Business & Economy

LCCI chief meets CCPO, DC

President of the Lahore Chamber of Commerce & Industry Irfan Iqbal Sheikh had a joint meeting with Capital City Police Officer (CCPO) Zulfiqar Hameed and Deputy Commissioner Lahore Danish Afzal at the CCOP office on Friday to discuss a strategy and implem

Published 11 Apr, 2020 12:00am

Buzdar raps opposition, acknowledges services of doctors, paramedics

Chief Minister Punjab Sardar Usman Buzdar on Friday acknowledged the services of doctors and paramedics for the treatment of coronavirus patients. According to a message received here he said this while inspecting the THQ Hospital Kot Addu.

Published 11 Apr, 2020 12:00am

Number of Covid-19 cases soars to 2,280 across Punjab

With 56 fresh Corona positive cases, the total number of coronavirus cases across the province of Punjab has risen to 2,280 including around 363 in Lahore.

Published 11 Apr, 2020 12:00am

SPARC holds online session on 'tobacco taxation' with journalists

Society for the Protection of the Rights of the Child (SPARC) organised an online session with journalists on tobacco taxation on Friday to brief them on a potential source of revenue to bear the cost to fight the covid-19 pandemic.

Published 11 Apr, 2020 12:00am

Business & Economy

Railways to launch 24 trains after approval

The Pakistan Railways (PR) is contemplating to launch 24 trains on up and down routes following end to lockdown due to coronavirus outbreak. However, this is still a proposal and it will be implemented after approval of the federal government.

Published 11 Apr, 2020 12:00am

Pakistani students in Wuhan emerge from lockdown

For more than a thousand Pakistani students stranded in the Chinese province of Hubei a gruelling lockdown lifted this week, but they must now decide whether to try to return to their home country where cases of coronavirus are rising rapidly.

Published 11 Apr, 2020 12:00am

Business & Economy

PAJCCI commends government for facilitating transit trade with Afghanistan

Chairman PAJCCI, Zubair Motiwala, on behalf of the business community across the border, highly acknowledged Government of Pakistan's strategic attempt to facilitate movement of cargo trucks and containers to cross over into Afghanistan through Torkham an

Published 11 Apr, 2020 12:00am

Nasir Shah criticises PM for politicizing pandemic problem

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest and Wildlife Syed Nasir Hussain Shah has said it is extremely regrettable that on one hand the Sindh government is striving to protect its people from the

Published 11 Apr, 2020 12:00am

Energy

LESCO issues Rs 20 million electricity bill to OLMT management

The Lahore Electric Supply Company (LESCO) has issued Rs20 million electricity bill to the Orange Line Metro Train (OLMT) management for the consumption of electricity during trial service of the train, said sources.

Published 11 Apr, 2020 12:00am

Energy

LPGDA withdraws strike call after meeting with Nadeem Babar

The Liquefied Petroleum Gas Distributors Association (LPGDA) on Friday called off the April 11 strike announced by it after holding a meeting with Special Assistant to Prime Minister on Petroleum Nadeem Babar.

Published 11 Apr, 2020 12:00am

Business & Economy

PCDMA chief seeks relief package for commercial importers

Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA) Amin Yousuf Balgamwala has sought "Relief Package" to save commercial importers from bankruptcy and urged the government to reinstate fixed tax regime and SRO 1190 for commercial importers.

Published 11 Apr, 2020 12:00am

Money & Banking

Ehsaas Programme: Bank Alfalah to support 1.5 million beneficiaries

Bank Alfalah is one of two exclusive partners for the delivery of the Prime Minister's Ehsaas Emergency Cash Programme, a Rs 144 billion fund aimed at supporting communities affected by the country-wide lockdowns due to the coronavirus (COVID-19).

Published 11 Apr, 2020 12:00am

Business & Economy

PIA wants permission for flight operations to be extended for another week

Pakistan International Airlines (PIA) has formally requested the government to extend the permission for flights operations up to April 18, it was learnt here.

Published 11 Apr, 2020 12:00am

Money & Banking

Mastercard launches Girls4Tech Connect learning programme

Mastercard has extended access to its signature Science, Technology, Engineering, and Math (STEM) curriculum, Girls4Tech, through a suite of new online, creative educational resources. The program has been designed to help parents and teachers engage and

Published 11 Apr, 2020 12:00am

Business & Economy

PM urged to announce waiver from demurrage charges at ports

Patron-in-Chief of United Business Group (UBG) and former president of FPCCI, S. M. Muneer, has urged Prime Minister Imran Khan and Federal Minister of Maritime Affairs Syed Ali Zaidi to extend the 30-day extension of "free time" to all ports and waive of

Published 11 Apr, 2020 12:00am

Business & Economy

Public-Sector Development Programme: Rs 470.8 billion released against budgeted Rs 701 billion

The federal government has released Rs470.8 billion (67.2 per cent) including Rs95.84 billion foreign aid (74.7 per cent) for various ongoing and new development projects under the Public-Sector Development Programme (PSDP) 2019-2020 against the total bud

Published 11 Apr, 2020 12:00am

Covid-19 lockdown: JI voices concern over condition of unpaid daily-wage earners

Jamaat-e-Islami (JI) Karachi on Friday expressed concerns over unpaid daily wagers struggling for food during lockdown in the metropolis, as it reviewed Al-Khidmat, its charity organisation's relief activities.

Published 11 Apr, 2020 12:00am

Covid-19: Dr Ansari lauds DRAP for allowing clinical trials of plasma therapy

Renowned Haematologist Dr Saqib Ansari on Friday thanked the Drug Regulatory Authority of Pakistan (DRAP) for acknowledging the efforts of Children Hospital and Research Institute and allowing clinical trials of plasma therapy for critical patients of cor

Published 11 Apr, 2020 12:00am

CM video message: 86 new cases of COVID-19 surface, one died

Sindh Chief Minister Syed Murad Ali Shah has said that during last 24 hours 86 new cases have emerged while one person despite defeating coronavirus, lost his life due to the complications created by COVID-19 and the deceased was his brother-in-law.

Published 11 Apr, 2020 12:00am

Brother-in-law of Sindh CM laid to rest in Karachi

Syed Mehdi Shah, brother-in-law of Sindh Chief Minister Syed Murad Ali Shah, was laid to rest at the Wadi-e-Hussain graveyard here on Friday. Syed Mehdi Shah died at a private hospital where he had been under treatment for the coronavirus infection.

Published 11 Apr, 2020 12:00am

Articles

Partly Facetious: A scientific approach?

"The Khan administration, I will have ye all of little faith know, is assessing the on-the-ground situation every day before tweaking if required its strategy on a daily basis on how to deal with the Coronavirus..."

Published 11 Apr, 2020 12:00am

Global Business Economy

Airbus plan for new A321 jet plant in France

Airbus has shelved plans to add a French assembly line for its A321neo just 10 weeks after the expansion was launched, as the coronavirus fallout spreads to its best-selling jetliner.

Published 11 Apr, 2020 12:00am

Global Business Economy

EU strikes rescue deal as hopes rise of virus easing

Tentative signs of hope emerged Thursday that the coronavirus pandemic was peaking, as the European Union sealed a rescue package to help the hard-hit continent.

Published 11 Apr, 2020 12:00am

Global Business Economy

China inflation slows as lockdowns ease

Inflation in China grew at its slowest pace since last October, official data showed Friday, falling from eight-year highs due to a drop in food prices as the country gradually lifts virus lockdowns.

Published 11 Apr, 2020 12:00am

Money & Banking

China loans surge to $405 billion in March

New bank lending in China rose sharply to 2.85 trillion yuan ($405 billion) in March, with total social financing hitting a record, as the central bank pumped in more liquidity and cut funding costs to support the coronavirus-ravaged economy.

Published 11 Apr, 2020 12:00am

Global Business Economy

US consumer prices record largest drop in five years

US consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptio

Published 11 Apr, 2020 12:00am

War-torn Yemen reports first coronavirus case

Yemen reported its first case of coronavirus Friday in a southern government-controlled province, raising fears of an outbreak in the war-torn country as air strikes blamed on the Saudi-led coalition tested a unilateral truce.

Published 11 Apr, 2020 12:00am

Asia cracks down on virus 'fake news'

Hundreds of people have been arrested across Asia for posting purported false coronavirus information, according to an AFP investigation, deepening concerns that growing government efforts to combat "fake news" will target the wrong people and silence dis

Published 11 Apr, 2020 12:00am

Global Business Economy

Sanofi offers 100 million doses of hydroxychloroquine in COVID-19 fight

French pharmaceutical giant Sanofi said Friday it would offer 100 million doses of hydroxychloroquine, a treatment for rheumatoid arthritis and lupus, to governments worldwide if studies show it can safely to be used to treat COVID-19 patients.

Published 11 Apr, 2020 12:00am

Angry crowd destroys UN base in Central Africa after accident

Villagers in Central African Republic attacked a forward base used by United Nations peacekeepers after a civilian was killed in a road accident, the UN force said Friday.

Published 11 Apr, 2020 12:00am

Global Business Economy

Amazon moves to create own lab for employee COVID-19 tests

Amazon is moving to create it own lab to test employees for coronavirus as the e-commerce giant struggles with safety issues amid the pandemic.

Published 11 Apr, 2020 12:00am

WHO denies ignoring Taiwan early virus warning

The World Health Organization on Friday denied having brushed off a Taiwanese warning on human-to-human transmission of the new coronavirus soon after the outbreak in China late last year.

Published 11 Apr, 2020 12:00am

Commodities

CBOT soyabeans rally as USDA forecasts larger supply

Chicago Board of Trade soyabeans rallied on Thursday after the US Department of Agriculture raised soyabean supply outlooks higher than market expectations, while also forecasting a higher soyameal crush to meet growing livestock feed needs.

Published 11 Apr, 2020 12:00am

Energy

US natural gas little changed on higher demand

US natural gas futures were little changed as forecasts for cooler weather and higher demand over the next two weeks offset a bigger-than-expected storage build and longer-range projects calling for demand destruction from the coronavirus outbreak.

Published 11 Apr, 2020 12:00am

Business & Economy

Activities at Karachi Port

The Karachi Port handled 129,827 tonnes of cargo comprising 118,148 tonnes of import cargo and 11,679 tonnes of export cargo including 8,376 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday.

Published 11 Apr, 2020 12:00am

Cotton & Textile

Spot rate inert on cotton market

The official spot rate was unchanged as cotton market not able to keep business activity these days owing to fight against coronavirus, some dealers informed on phone on Friday.

Published 11 Apr, 2020 12:00am

Commodities

CBOT wheat futures rise

Chicago Board of Trade wheat futures rose Thursday, as the Russian ruble strengthened against the US dollar and dryness in Europe and the Black Sea region threatened crops, traders said.

Published 11 Apr, 2020 12:00am

Commodities

China's iron ore futures surge as mills restock raw materials

Iron ore futures in China jumped on Thursday on restocking demand as steel inventories dropped again this week, while a recovery in profits at mills further lifted purchases of the steelmaking ingredient.

Published 11 Apr, 2020 12:00am

Energy

Asia's gasoline hits new low on rising supplies

Asia's gasoline crack hit a new low on rising supplies for a second straight day on Thursday, as supplies increased while demand continued to fall due to lockdowns seeking to curb the coronavirus from spreading.

Published 11 Apr, 2020 12:00am

Commodities

CBOT corn futures rise on technical buying

Chicago corn futures inched upward on Thursday, on technical buying and strong export sales, after the US Agriculture Department raised its outlook for domestic supplies of corn on expectations of reduced usage by ethanol producers.

Published 11 Apr, 2020 12:00am

Commodities

European wheat hits over 1-1/2-year high

European wheat hit a more than 1-1/2 year high on Thursday, boosted by strong exports and dryness in some parts of Europe, but pared most of its gains after the US government released larger than expected wheat ending stocks estimates.

Published 11 Apr, 2020 12:00am

Money & Banking

Pandemic shock may hasten central bank digital cash: Mike Dolan

This coronavirus crisis may have come too soon for central banks now mulling digital currency as legal tender but the financial problems the health scare presents could hasten their arrival.

Published 11 Apr, 2020 12:00am

Stocks

Italian yields falls

Italian government bond yields fell on Thursday after European Union budget hawk Austria said it was willing to compromise to reach a deal on the bloc's response to the coronavirus crisis. However, euro bonds remain out of the question, Finance Minister G

Published 11 Apr, 2020 12:00am

Stocks

Shanghai stocks record best week in five on stimulus hopes

Shanghai stocks slid on Friday on bleak factory gate data that pointed to a prolonged recovery, but ended the week with their biggest gains in five on hopes of more economic stimulus to shore up the world's second-largest economy.

Published 11 Apr, 2020 12:00am

Stocks

Wall Street rises on latest Fed rescue plan

Wall Street closed out the trading week on a high note on Thursday as the US Federal Reserve unleashed another program designed to buoy local governments and businesses crushed by massive closures to stem the coronavirus outbreak.

Published 11 Apr, 2020 12:00am

Stocks

South Korean shares up

South Korean shares rose on Friday as market sentiment was lifted by the US Federal Reserve's fresh stimulus measures overnight that eased concerns over a liquidity crunch. The Korean won strengthened, while the benchmark bond yield rose.

Published 11 Apr, 2020 12:00am

Stocks

Japanese shares surge

Japanese shares settled higher on Friday, with bank stocks leading the gains on a $2.3 trillion programme by the US Federal Reserve to support local governments and businesses, but trading was lacklustre due to the Easter holidays overseas.

Published 11 Apr, 2020 12:00am

Stocks

US, UK, Europe and other markets closed

Stocks, financial and commodity markets in New York, London, Europe and in some Asian countries, including Hong Kong and India were closed for Good Friday and Easter holidays from April 10 to 13, 2020. Markets will resume normal trading on Tuesday, while

Published 11 Apr, 2020 12:00am

Money & Banking

Dollar falls, sterling recovers in Asia

The dollar was on course for a weekly loss on Friday as the US Federal Reserve's massive new lending programme for small companies and signs of a slowdown in coronavirus infections reduced safe-haven demand.

Published 11 Apr, 2020 12:00am

Money & Banking

More Latam FX pain due in April

Latin American currencies are set to stay weak this month as the regional economic damage caused by the coronavirus pandemic becomes more clear, according to a Reuters poll of strategists who remained optimistic about an eventual rebound.

Published 11 Apr, 2020 12:00am

Money & Banking

Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (April 10, 2020).

Published 11 Apr, 2020 12:00am

Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (April 10, 2020)

Published 11 Apr, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 30	278.58
USD PKR Interbank Buying / Dec 30	278.43
USD to Japanese Yen / Dec 31	156.20
USD to Swiss Franc / Dec 31	0.90
Pound Sterling to USD / Dec 31	1.26
Euro to USD / Dec 31	1.04

Stock	Volume
S&P 500 / Dec 30	5,906.94
Tokyo Nikkei / Dec 30	39,894.54
Nasdaq / Dec 30	19,486.79
FTSE 100 / Dec 30	8,121.01
Dow Jones / Dec 30	42,573.73
Germany DAX 30 / Dec 30	19,909.14
France CAC40 / Dec 30	7,313.56
India Sensex / Dec 31	78,017.14

Item	Value
Karachi Cotton PKR/37.32 KG / Dec 30	17,785
Gold 10 Grams PKR / Dec 30	241,430.80
Petrol/Litre / Dec 31	252.10
Crude Oil USD/Barrel / Dec 31	71.59
Gold Spot USD/Ounce / Dec 31	2,605.88
Diesel/Litre / Dec 31	255.38

Gainers
Losers
Leaders

Stock	Price
Gulshan Sp. / Dec 31 Gulshan Spinning Mills Limited(GSPM)	4.63 ▲ 0.63 (15.75%)
Hira Textile / Dec 31 Hira Textile Mills Limited(HIRAT)	3.76 ▲ 0.46 (13.94%)
Pak Int.Bulk / Dec 31 Pakistan International Bulk Terminal(PIBTL)	9.38 ▲ 1.00 (11.93%)
LSE Financial Serv. / Dec 31 LSE Financial Services Limited(LSEFSL)	15.70 ▲ 1.43 (10.02%)
Ali Asghar / Dec 31 Ali Asghar Textile Mills Limited(AATM)	65.45 ▲ 5.95 (10.00%)
Chakwal Spinning / Dec 31 Chakwal Spinning Mills Limited(CWSM)	64.67 ▲ 5.88 (10.00%)
Liven Pharma / Dec 31 Liven Pharma Limited(LIVEN)	150.54 ▲ 13.69 (10.00%)
Suhail Jute / Dec 31 Suhail Jute Mills Limited(SUHJ)	131.86 ▲ 11.99 (10.00%)
Pak Stock Exchange / Dec 31 Pakistan Stock Exchange Limited(PSX)	27.75 ▲ 2.52 (9.99%)

Stock	Price
Frontier Ceram / Dec 31 Frontier Ceramics Limited(FRCL)	42.91 ▼ -4.77 (-10.00%)
Khairpur Sug. / Dec 31 Khairpur Sugar Mills Limited(KPUS)	203.81 ▼ -22.65 (-10.00%)
Blue-Ex Ltd / Dec 31 Blue-Ex Limited (GEM)(GEMBLUEX)	43.35 ▼ -4.81 (-9.99%)
Mehmood Tex / Dec 31 Mehmood Textile Mills Limited(MEHT)	600 ▼ -65.37 (-9.82%)
Olympia Mills / Dec 31 Olympia Mills Limited(OML)	36 ▼ -3.89 (-9.75%)
Shahmurad Sugar / Dec 31 Shahmurad Sugar Mills Limited(SHSML)	431.98 ▼ -41.15 (-8.70%)
First Tri-Star Mod. / Dec 31 First Tri-Star Modaraba(FTSM)	13.30 ▼ -1.12 (-7.77%)
JS Investments / Dec 31 JS Investments Limited(JSIL)	22 ▼ -1.71 (-7.21%)
Asia Ins. / Dec 31 Asia Insurance Company Limited(ASIC)	13 ▼ -0.99 (-7.08%)

Stock	Volume
Cnergyico PK / Dec 31 Cnergyico PK Limited(CNERGY)	130,443,785 ▲ 0.47
WorldCall Telecom / Dec 31 Worldcall Telecom Limited(WTL)	111,551,930 ▼ -0.02
B.O.Punjab / Dec 31 The Bank of Punjab(BOP)	84,182,656 ▼ -0.09
Silk Bank Ltd / Dec 31 Silkbank Limited(SILK)	48,777,302 ▼ -0.03
K-Electric Ltd. / Dec 31 K-Electric Limited(KEL)	45,320,218 ▲ 0.04
Pak Elektron / Dec 31 Pak Elektron Limited(PAEL)	36,348,761 ▼ -0.77
Fauji Foods Ltd / Dec 31 Fauji Foods Limited(FFL)	35,555,127 ▲ 0.71
Pak Int.Bulk / Dec 31 Pakistan International Bulk Terminal(PIBTL)	30,670,094 ▲ 1.00
Sui South Gas / Dec 31 Sui Southern Gas Company Limited(SSGC)	30,315,237 ▼ -0.82

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