News Archives for Print - 2020-04-17

Print - 2020-04-17

Disbursement approved by IMF board

IMF Executive Board approved the disbursement of US$1.386 billion under the Rapid Financing Instrument to address the economic impact of COVID-19.

Published 17 Apr, 2020 12:00am

Energy

Ministry seeks proposals from power producers

The Ministry of Energy has sought proposals from the power producers how to reduce and bring some relief in the cost of electricity being paid by end consumers, including industrial, commercial and domestic consumers, and how to resolve the quantum of cap

Published 17 Apr, 2020 12:00am

Government, IPPs meeting: Technical committee formed

In the wake of the economic challenges faced by Pakistan's economy and increasing energy prices, meetings were conducted by the Government Committee under direction from Cabinet Committee on Energy with Independent Power Producers (IPPs) fewer than 1994 a

Published 17 Apr, 2020 12:00am

Pandemic to bring Asia's growth to halt for 1st time in 60 years: IMF

Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an "unprecedented" toll on the region's service sector and major export destinations, the International Monetary Fund said on Thursday.

Published 17 Apr, 2020 12:00am

Trump says US investigating whether virus came from Wuhan lab

US President Donald Trump said on Wednesday his government is trying to determine whether the coronavirus emanated from a lab in Wuhan, China, and Secretary of State Mike Pompeo said Beijing "needs to come clean" on what they know.

Published 17 Apr, 2020 12:00am

Stocks

KSE-100 Index rangebound: BRIndex100 inert

Pakistan Stock Exchange Thursday witnessed a rangebound session as investors remained cautious due to coronavirus spread and slowing down of economic activities.

Published 17 Apr, 2020 12:00am

Qureshi, IMF official discuss Covid-19, its aftermath

Foreign Minister Shah Mahmood Qureshi on Thursday received Teresa Daban Sanchez, resident representative of the International Monetary Fund (IMF) in Pakistan and discussed the Covid-19 pandemic and its aftermath.

Published 17 Apr, 2020 12:00am

SBP stays ahead of the curve

The SBP took time to speed up; but did it in style. Pundits were critical of SBP for not being ahead of the curve. The institution waited for the right information to come in. And it took no time to act. Like it was in Jul-19. At that time, SBP increased

Published 17 Apr, 2020 12:00am

PM for timely steps to avert any shortage

Prime Minister Imran Khan on Thursday directed the Ministry for National Food Security to keep a strict vigil on the demand and supply of wheat and other food commodities to avert any shortage during the holy month of Ramadan.

Published 17 Apr, 2020 12:00am

Policy rate cut to 9 percent on virus fears

The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) in its emergency meeting held on Thursday decided to further cut the key policy rate by 200 basis points (bps) to 9 percent to minimize the Coronavirus shock on economic growth. This is t

Published 17 Apr, 2020 12:00am

Money & Banking

THE RUPEE: Mixed mode

The rupee showed mixed trends against the dollar in the currency market on Thursday for both buying and selling in Interbank and Open markets.

Published 17 Apr, 2020 12:00am

Sugar mills reject FIA inquiry report

The Pakistan Sugar Mills Association (PSMA) has outrightly rejected the inquiry report of the Federal Investigation Agency (FIA) on sugar, while terming it "flawed" and "misconceived" and based on "presumptions", with no justification of conducting forens

Published 17 Apr, 2020 12:00am

SRB extends deadline for ST payment

Sindh Revenue Board (SRB) has extended the last date for the payment of Sindh Sales Tax by April 27, 2020.

Published 17 Apr, 2020 12:00am

Investment policy for pension funds revised: Maturity period for government Ijarah Sukuk fixed at five years

The Securities and Exchange Commission of Pakistan (SECP) has revised investment policy for pension funds, according to which the time of maturity of any government Ijarah Sukuk shall not exceed five years in case of Shariah-compliant money market sub-fun

Published 17 Apr, 2020 12:00am

G-20 debt relief to provide vast fiscal space: Qureshi

Foreign Minister Shah Mahmood Qureshi Thursday said Pakistan would get a substantial relief following the G-20 countries decision to suspend the developing countries' debt payments for one year to provide fiscal space to these countries including Pakistan

Published 17 Apr, 2020 12:00am

India's newspapers cut jobs and salaries

India's vibrant newspaper industry that reaches tens of millions of readers daily has been ravaged by declining advertising revenues due to a nationwide lockdown to fight the coronavirus, pushing leading titles to slash jobs and salaries.

Published 17 Apr, 2020 12:00am

Oil production down by 35 percent in lockdown

The oil production has declined by 35 percent during the first two weeks of lockdown in the country, experts said.

Published 17 Apr, 2020 12:00am

MoF-FBR body to resolve liquidity issues: Refunds held up since 2014 to be paid next week: Hafeez

Adviser to the Prime Minister on Finance, Dr Abdul Hafeez Shaikh Thursday assured the industry and businesses of the government's resolve to provide liquidity, cash flow and other allied issues to ease their difficulties in the prevailing situation and wo

Published 17 Apr, 2020 12:00am

Ehsaas Emergency Cash Transfer Programme: IT exempted on commission by banking agent

The Federal Board of Revenue (FBR) has announced income tax exemption on commission received by a retail branchless banking agent on any amount disbursed by the Ehsaas Emergency Cash Transfer Programme from April 16, 2020 to June 30, 2020.

Published 17 Apr, 2020 12:00am

Edrees new KE Chairman

The Board of Directors of K-Electric Limited has elected Riyadh S. A. A. Edrees as the new Chairman of the Company with effect from April 09, 2020, at its recent meeting.

Published 17 Apr, 2020 12:00am

SHC suspends 20 percent tuition fee concession

The Sindh High Court (SHC) on Thursday suspended the orders issued by the Sindh government regarding a concession in school fees amid the lockdown, issuing a notice to the provincial education department and others, Aaj News reported

Published 17 Apr, 2020 12:00am

Coronavirus surge: India charges Muslim leader with culpable homicide

India has brought charges of culpable homicide not amounting to murder against the chief of a Muslim seminary for holding a gathering last month that authorities say led to a big jump in coronavirus infections, police said on Thursday.

Published 17 Apr, 2020 12:00am

Letters

Testing capacity challenge

There appears to be one factor common between India and Pakistan in relation to the two countries' response to the coronavirus challenge: both are struggling to raise their testing capacities. It is therefore a matter of great satisfaction that Special As

Published 17 Apr, 2020 12:00am

Articles

In Britain, virus hits ethnic minorities hardest

When Amer Awan's father died of coronavirus, mourners congregated with little thought of social distancing. But cultural practices alone do not explain why Britain's ethnic minorities have been hardest hit by the outbreak.

Published 17 Apr, 2020 12:00am

Articles

Global economic prospects under Covid-19 crisis

Covid-19 has badly exposed the lack of interdisciplinary approach of mainstream economics - the theoretical basis for widely practiced economic policy, both at the level of most countries and multilateral institutions - whereby, as a result, the economic

Published 17 Apr, 2020 12:00am

Articles

Tax bailout for economic revival

According to various Press reports, all businesses in Pakistan, as elsewhere, badly hit by lockdown in the wake of Covid-19 epidemic, are demanding a comprehensive tax bailout claiming that loan facility announced by State Bank of Pakistan (SBP) to pay sa

Published 17 Apr, 2020 12:00am

Sacred resistance?

Emboldened by the federal government's decision to extend the lockdown but in a mitigated form by allowing select industries and trades to resume work the Ulema leadership has decided to resume congregational prayers. They ask what actually constitutes 'l

Updated 17 Apr, 2020 05:37am

Next phase of the fight

Pakistan entered yet more uncharted territory in this unprecedented fight against the coronavirus on Tuesday when the federal government allowed some select industries to reopen while extending the lockdown by another two weeks. Everybody understands all

Updated 17 Apr, 2020 05:37am

PM for ensuring enforcement of SOPs at industries in Punjab

Prime Minister Imran Khan Thursday directed Punjab Minister for Industries Mian Aslam to remain in constant contact with the business community and chambers to ensure the enforcement of Standard Operating Procedures (SOPs) for protection against coronavir

Published 17 Apr, 2020 12:00am

Money & Banking

EFP lauds SBP refinance scheme for payment of wages and salaries

Governor State Bank of Pakistan Reza Baqir has said that SBP is constantly working with stakeholders and taking appropriate measures to bring financial relief and provide pragmatic support to the industries in order to maintain financial solvency and rete

Published 17 Apr, 2020 12:00am

Business & Economy

PIA denies evacuating VIPs through chartered flight

Pakistan International Airlines (PIA) has denied operating chartered flights to the United Kingdom in order to evacuate VIPs or the relations of top government officials from Pakistan.

Published 17 Apr, 2020 12:00am

PM hails G20 debt relief

Prime Minister Imran Khan Thursday appreciated the debt relief measures taken by the G20 countries, International Monetary Fund and the World Bank for the developing countries including Pakistan. The prime minister said this in a meeting with his Finance

Published 17 Apr, 2020 12:00am

Hoarders/smugglers of consumer items: Presidential Ordinance moves to federal cabinet

The Presidential Ordinance to introduce harsh punishments for hoarders/smugglers of consumer items, edible goods, essential food commodities and masks/sanitizers etc, has been drafted and now been moved to the federal cabinet members for approval. It has

Published 17 Apr, 2020 12:00am

Coronavirus pandemic: SC hears cases through video link

The Supreme Court in view of the litigants and counsels' hardship in appearing before the court due to the coronavirus pandemic suggested that the cases should be heard through video link. Justice Qazi Faez Isa, was heading a two-member bench on Thursday,

Published 17 Apr, 2020 12:00am

Money & Banking

Reserves up by $307 million to $17.296 billion

The country's total liquid foreign reserves increased by $307 million during the last week. According to State Bank of Pakistan (SBP) weekly report issued on Thursday, Pakistan's total liquid foreign exchange reserves surged to $ 17.296 billion as on Apri

Published 17 Apr, 2020 12:00am

Control of spread of coronavirus: Lack of precautionary measures at markets

Markets in twin cities on Thursday witnessed rush of customers but a complete lack of precautionary measures framed for control of spread of the coronavirus was observed at the markets, which may cause an increase in number of the coronavirus cases.

Published 17 Apr, 2020 12:00am

KPT chief's case: IHC disposes of petition

Islamabad High Court (IHC) Thursday disposed of former Rear Admiral Jamil Akhtar's petition, after the Attorney General informed he proposes to the federal government to withdraw notifications of removal of chairman of the Karachi Port Trust (KPT).

Published 17 Apr, 2020 12:00am

7.5 million needy people to get cash: Ehsaas Programme enters second phase

With the completion of the first phase of cash distribution to 4.5 million families, the financial assistance to the remaining 7.5 million deserving population has started as part of the federal government's Ehsaas Emergency Cash Programme to provide Rs12

Published 17 Apr, 2020 12:00am

PM seeks help of Ulema to contain spread of Covid-19

Prime Minister Imran Khan on Thursday said that cooperation of religious scholars (Ulema) was required to contain the spread of coronavirus and added he would soon meet a delegation of Ulema-e-Kiram in that regard.

Published 17 Apr, 2020 12:00am

Business & Economy

Shibli, Rabbani trade barbs on convening Senate session

The leader of the house in Senate Shibli Faraz and former chairman Senate Raza Rabbani traded barbs on Thursday as the former dismissed any possibility of convening Senate session within a fortnight while the latter accused the treasury benches of being h

Published 17 Apr, 2020 12:00am

Commodities

KBP not happy with government's policy on wheat

Criticizing the ban imposed by the provincial government on open movement of wheat, the Kissan Board Pakistan (KBP) has alleged that it will expose the growers once again to atta mafia (flour mafia).

Published 17 Apr, 2020 12:00am

Business & Economy

No talk of relief for small businesses: analyst

Economic and Financial Analyst, Ateeq Ur Rehman has expressed his concern that everyone is talking about industries and big businesses but hardly one can hear relief for small businesses.

Published 17 Apr, 2020 12:00am

Rs 3.14 billion deposited in Sindh Coronavirus Emergency Fund

An amount of Rs3.1465 billion has so far been deposited in Sindh Coronavirus Emergency Fund by different government departments and organisations as well as 948 other philanthropists.

Published 17 Apr, 2020 12:00am

Business & Economy

FPCCI prepares multivolume document on forthcoming budget

"The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has successfully completed the exercise of preparing its proposals on the ensuing Federal Budget 2020-21 keeping in view the objectives of (i) Revamping Taxation System (ii) Documentation

Published 17 Apr, 2020 12:00am

12 noon to 3pm: Murad orders complete closure today

The Sindh government has announced to complete closure on Friday from 12 noon to 3 pm. This emerged on Thursday evening when Sindh Chief Minister Syed Murad Ali Shah met with a delegation of Ulema by Mufti Munib-ur-Rehamn. The delegation members include,

Published 17 Apr, 2020 12:00am

Articles

Partly Facetious: Afridi,Gandapur below 60?

"I am not sure which ministries are under lockdown."

Published 17 Apr, 2020 12:00am

Disabled persons: PBM launches cash distribution programme

Pakistan Baitul Maal (PBM) has launched financial assistance programme under which Rs 10,000 each will be provided to disabled persons all over the country. Punjab Governor Chaudhry Mohammad Sarwar inaugurated the programme by giving away cheques of Rs 10

Published 17 Apr, 2020 12:00am

Telecommunication

Telenor pledges Rs 1.6 billion towards Covid-19 relief efforts

Telenor has pledged Rs1.6 billion in cash and kind towards the COVID-19 relief efforts.

Published 17 Apr, 2020 12:00am

Business & Economy

Al-Ghazi Tractors resumes operations

Al-Ghazi Tractors Limited has resumed its plant operations on Thursday. According to details, Al-Ghazi Tractors Limited has temporarily suspended its plant operations from March 27, 2020 in order to comply with the then directives of the governmental auth

Published 17 Apr, 2020 12:00am

Business & Economy

Islamic banking: FBAATI urges SBP to develop procedures at subsidised rates

President Federal B. Area Association of Trade & Industry (FBAATI), Abdullah Abid has urged State Bank of Pakistan (SBP) to develop some policy/procedures for Islamic banking at subsidised rates of 4 to 5 percent.

Published 17 Apr, 2020 12:00am

'Sindh government enhances Covid-19 testing capacity up to 5,000 per day'

The testing capacity of the Sindh Government to conduct coronavirus test has now been increased from 1500 per day to 2500 per day and efforts are being made to further enhance it upto 5000.

Published 17 Apr, 2020 12:00am

Business & Economy

ML-I project under CPEC: WB says project not likely to be successful without railway sector's reformation

The World Bank (WB) has said that the ML-I project under the China-Pakistan Economic Corridor (CPEC) worth $9.172 billion will not be successful without reforming the railway sector in Pakistan.

Published 17 Apr, 2020 12:00am

Lockdown extended to save lives of people: Murad

Chief Minister of Sindh Murad Ali Shah on Thursday said that the provincial authorities have extended the lockdown to save the lives of people from deadly coroanvirus.

Published 17 Apr, 2020 12:00am

Afridi appointed chairman of Parliamentary body on Kashmir

National Assembly Speaker Asad Qaiser Thursday appointed Minister for States and Frontier Regions (SAFRON) Shehryar Afridi as chairman of the Parliamentary Committee on Kashmir. Shehryar Afridi has replaced Syed Fakhar Imam who was leading the Parliamenta

Published 17 Apr, 2020 12:00am

Business & Economy

Wholesale market for food items should be opened: KATI

President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan has suggested that wholesale markets of food items and industrial raw materials should be opened to maintain circulation of money which is essential to provide employment.

Published 17 Apr, 2020 12:00am

More rains with windstorm likely in country

A fresh weather system is likely to grip the central and upper parts of the country until next Monday, the Met Office said on Thursday.

Published 17 Apr, 2020 12:00am

CAA to increase capacity to test, quarantine passengers by April 20

The Civil Aviation Authority (CAA) will increase the capacity to test and quarantine incoming passengers by April 20, in order to bring back Pakistanis stranded in foreign countries.

Published 17 Apr, 2020 12:00am

DC South issues SOPs for traders, shopkeepers

Deputy Commissioner District South Karachi Irshad Sodhar on Thursday issued Standards Operating Procedures (SOPs) for the traders and shopkeepers to resume their businesses as described in Government of Sindh Home Department's order dated on April 14.

Published 17 Apr, 2020 12:00am

Money & Banking

NAPHDA signs agreement with HBL

Naya Pakistan Housing and Development Authority (NAPHDA) and HBL's Islamic Banking arm have signed a Memorandum of Understanding (MOU). The MOU was signed in Islamabad by Lt-Gen Anwar Ali Hyder (retd) Chairman NAPHDA and in Karachi by Muhammad Aurangzeb,

Published 17 Apr, 2020 12:00am

Ehsaas emergency cash transfer programme: Centre disburses Rs 44.194 billion in 7 days

The federal government has disbursed till to date Rs44.194 billion during the last seven days to 3.692 million deserving families under Ehsaas emergency cash transfer programme and started payment to male beneficiaries in category 2 from Thursday with mos

Published 17 Apr, 2020 12:00am

Bid to smuggle Pakistani currency to Iran foiled

Directorate of Intelligence and Investigation, Customs, Gwadar on Thursday claimed to have thwarted an attempt to smuggle Pakistani currency to Iran via sea route of Jiwani.

Published 17 Apr, 2020 12:00am

Ramazan transmissions: Pemra bans live audiences

Pakistan Electronic Media Regulatory Authority (Pemra) has banned live audiences to attend Ramzan transmissions in the wake of the coronavirus pandemic. A notification issued by Pemra has further advised channels to disinfect and sanitize equipment, while

Published 17 Apr, 2020 12:00am

Stocks

Draft policy unveiled: No 60-plus officer to be appointed or retained, exchanges told

The Securities and Exchange Commission of Pakistan (SECP) has directed futures exchange, central depository and securities exchange not to appoint or retain any person as senior management officer who is above 60 years of age.

Published 17 Apr, 2020 12:00am

Brief Recordings

An interview with Salman Hussain, CEO Lucky Foods Private Limited 'With price fixation, government is incentivising milk adulteration'

Lucky Foods is part of Yonus Brothers Group. Mohammad Ali Tabba established this company in 2015 with Salman Hussain as its first CEO. Salman graduated from IBA in 1996 and worked at Citibank N A till 2014. He started his career at the consumer division o

Updated 17 Apr, 2020 04:02am

60 Rohingya die, hundreds rescued

Sixty Rohingya died on a boat crammed with hundreds of people stranded in the Bay of Bengal for more than two months, two survivors told AFP on Thursday. Both said that the captain of the fishing trawler, carrying over 500 men, women and children, was als

Published 17 Apr, 2020 12:00am

Saudi Arabia executes Yemeni

Saudi Arabia on Thursday executed a Yemeni man convicted over a knife attack on a Spanish theatre group, the interior ministry said, amid a controversial push to ease decades-old restrictions on entertainment.

Published 17 Apr, 2020 12:00am

New York governor extends shutdown to May 15

New York Governor Andrew Cuomo extended the state's shutdown order Thursday until May 15, citing data showing conditions were improving but insisting on the need to maintain vigilance.

Published 17 Apr, 2020 12:00am

Virus sees Doctors Without Borders launch first Canada project

The NGO Doctors Without Borders (MSF) has launched its first ever intervention in Canada by helping to set up a convalescent center for homeless people with COVID-19, an official said Wednesday. The 400-bed facility will soon open in Toronto, Canada's lar

Published 17 Apr, 2020 12:00am

UK breaks with past to approve virtual parliament plan

Plans for the House of Commons to sit remotely for the first time in its 700-year history in response to the COVID-19 pandemic were approved Thursday by parliamentary authorities.

Published 17 Apr, 2020 12:00am

Nigeria security forces kill 18 over virus lockdown: rights body

Nigerian security forces have killed 18 people in their enforcement of measures to curb coronavirus, a figure higher than the documented toll inflicted by the disease, the country's human rights body said.

Published 17 Apr, 2020 12:00am

China censorship fuels virus revival risk: rights watchdog

There is a "tremendous danger" of a COVID-19 resurgence in China due to Beijing's censorship and suppression during the coronavirus outbreak, Human Rights Watch warned on Thursday.

Published 17 Apr, 2020 12:00am

Commodities

China's stainless steel hits over seventh session high

Stainless steel futures in China extended gains into a seventh session on Wednesday as restocking demand from traders rose, while raw material supply disruptions due to suspension at Philippines' nickel mines also supported prices.

Published 17 Apr, 2020 12:00am

Commodities

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,649.

Published 17 Apr, 2020 12:00am

Energy

US natural gas futures fall as LNG exports decline

US natural gas futures fell for a fifth consecutive day on Wednesday, as pipeline and liquefied natural gas (LNG) exports declined and concerns rose over how measures to slow the spread of coronavirus will continue cutting demand.

Published 17 Apr, 2020 12:00am

Commodities

CBOT soyabean futures fall for third session

Chicago Board of Trade soyabean futures fell for a third straight session on Wednesday, as meat processing plants continued to close due to the coronavirus pandemic, traders said.

Published 17 Apr, 2020 12:00am

Commodities

China's March iron ore imports fall

China's iron ore imports dipped in March, official customs data showed on Tuesday, as mills slowed output to digest record-high steel inventories after disruptions caused by the coronavirus outbreak curtailed construction and industrial activities.

Published 17 Apr, 2020 12:00am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 124,424 tonnes of cargo comprising 66,061 tonnes of import cargo and 58,363 tonnes of export cargo including 8,732 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Published 17 Apr, 2020 12:00am

Cotton & Textile

Dullness remains on cotton market

The trade activities remained dull on the cotton market as the government has extended the lock down for another two weeks.

Published 17 Apr, 2020 12:00am

Commodities

Euronext wheat futures ease for second day

Euronext wheat eased for a second day on Wednesday in line with Chicago as wheat futures saw technical selling after a recent rally and forecasts of rain across Europe eased concerns about parched crops.

Published 17 Apr, 2020 12:00am

Energy

Asia's gasoline crack hits 1-1/2-week high

Asia's gasoline crack hit a 1-1/2 week high on Wednesday, rebounding from a record low in the previous session, following a plunge in raw material oil prices but the crack value remained in steep discounts due to oversupply and a lack of demand.

Published 17 Apr, 2020 12:00am

Stocks

Japanese shares down

Japanese shares on Thursday tracked overnight losses on the Wall Street, as economic damage from COVID-19 weighed on investor sentiment, with banks and automakers leading the declines.

Published 17 Apr, 2020 12:00am

Stocks

Most Middle East stocks fall

Most Middle East indexes fell for a second day on Thursday, after the International Monetary Fund (IMF) warned of the worst economic downturn since 1930s while an expected drop in global oil demand to quarter-century lows added to the woes.

Published 17 Apr, 2020 12:00am

Stocks

China stocks surge

China stocks ended higher on Thursday on recovering global investor sentiment, but gains were modest ahead of March-quarter GDP data that is expected to show an economic contraction for the first time in nearly 30 years.

Published 17 Apr, 2020 12:00am

Stocks

European shares bounce

European shares rose on Thursday as daily coronavirus death tolls in Spain and Italy eased, while a defiant statement on the crisis from two of the continent's big budget airlines helped battered travel stocks recover.

Published 17 Apr, 2020 12:00am

Stocks

Thursday's early trade: S&P 500, Dow slip

The S&P 500 and Dow Jones slipped on Thursday, giving up early gains as concerns about dismal first-quarter earnings and lasting economic damage from the coronavirus pandemic offset better-than-expected weekly jobless claims numbers.

Published 17 Apr, 2020 12:00am

Stocks

Wall Street falls on dour economic data, earnings

US stocks fell on Wednesday as dismal economic data and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak.

Published 17 Apr, 2020 12:00am

Stocks

Southeast Asian stocks fall

Most Southeast Asian stock markets ended lower on Thursday, with the Philippines index plunging 7%, as dire prospects for the global economy due to the coronavirus pandemic dented investor sentiment.

Published 17 Apr, 2020 12:00am

Stocks

UK markets steady

Britain's stock markets steadied on Thursday after a two-day slump as budget airline EasyJet signalled it would ride out the coronavirus-induced travel halt, but broader concerns that a lockdown would be extended pressured the FTSE 100.

Published 17 Apr, 2020 12:00am

Money & Banking

Aussie, kiwi under pressure

The Australian and New Zealand dollars were under pressure on Thursday, as evidence of the damage the novel coronavirus was wreaking on the world economy soured risk sentiment, unravelling a chunk of their recent gains.

Published 17 Apr, 2020 12:00am

Money & Banking

Sterling slips against dollar, euro

The pound slipped slightly against the dollar and euro on Thursday as the UK government said the novel coronavirus outbreak was starting to peak but it would be premature to lift a country-wide lockdown.

Published 17 Apr, 2020 12:00am

Money & Banking

Early trade in New York: Dollar at one-week high as investors seek safety

The dollar hit a one-week high on Thursday as investors fled to safe-haven assets following the release of weekly US jobless data showing a record 22 million Americans have sought unemployment benefits in the last month.

Published 17 Apr, 2020 12:00am

Money & Banking

Dollar rises against others in Europe

The dollar consolidated its gains against other currencies on Thursday before the release of weekly US jobless data likely to provide more evidence of the world's biggest economy hurtling into a deep recession.

Published 17 Apr, 2020 12:00am

UAF chalks out plan to produce quality wheat seed

The University of Agriculture Faisalabad has chalked out a plan to produce quality wheat seed for next season for farming community.

Published 17 Apr, 2020 12:00am

Business & Economy

Shortage of over 400 lifesaving drugs being anticipated

Availability of more than 400 lifesaving drugs may be jeopardized due to some bureaucratic snags, leading to a major health crisis in the country, especially in Sindh and Khyber Pakhtunkhwa, market sources claimed.

Published 17 Apr, 2020 12:00am

Taxes

Refund claims: FBR directs completion of processing before 20th

The Federal Board of Revenue (FBR) has directed all the chief commissioners, Inland Revenue, to complete processing of the refunds claims before 20th April 2020 in view of the sensitivity of COVID19 relief package implementation, says a notification avail

Published 17 Apr, 2020 12:00am

Business & Economy

Sanofi to collaborate with GSK to fight Covid-19

Sanofi and GSK announced that they have signed a letter of intent to develop an adjuvanted vaccine for COVID-19, using innovative technology from both companies, to help address the ongoing pandemic.

Published 17 Apr, 2020 12:00am

Kaira slams government for not acknowledging Sindh govt's measures

Pakistan Peoples Party (PPP) leader Qamar Zaman Kaira on Thursday criticized the federal government for not acknowledging the measures taken by the Sindh government to arrest the spread of the coronavirus.

Published 17 Apr, 2020 12:00am

Industry

Industries should follow SOPs: Buzdar

Expressing concern over traffic on some roads of Lahore city, Chief Minister Punjab Sardar Usman Buzdar appealed to the citizens to follow the government's instructions and restrict themselves to their homes.

Published 17 Apr, 2020 12:00am

Commodities

PSMA denies news report

Pakistan Sugar Mills Association - Punjab Zone takes a strong exception to the article titled "13 Mills Underreport Over 200,000 Tons of Sugar" published in press section, where the information provided by The Punjab Cane Commissioner's Office has been mi

Published 17 Apr, 2020 12:00am

Money & Banking

Zafar Masud appointed President/CEO of BoP

Zafar Masud has joined as President/CEO of The Bank of Punjab on Thursday. He was appointed as President/CEO of The Bank of Punjab by Government of the Punjab.

Published 17 Apr, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 17	278.60
USD PKR Interbank Buying / Dec 17	278.60
USD to Japanese Yen / Dec 17	1.05
USD to Swiss Franc / Dec 17	0.90
Pound Sterling to USD / Dec 17	1.27
Euro to USD / Dec 17	154.09

Stock	Volume
S&P 500 / Dec 16	6,074.08
Nasdaq / Dec 16	20,173.89
Dow Jones / Dec 16	43,717.48
India Sensex / Dec 17	80,962.81
Tokyo Nikkei / Dec 17	39,364.68
Hang Seng / Dec 17	19,777.10
FTSE 100 / Dec 17	8,214.43
Germany DAX 30 / Dec 17	20,290.76

Item	Value
Gold 10 Grams PKR / Dec 16	243,059.70
Crude Oil USD/Barrel / Dec 17	70.82
Karachi Cotton PKR/37.32 KG / Dec 17	17,585
Gold Spot USD/Ounce / Dec 17	2,654.67
Cotton US¢/pound / Dec 17	69.11
Petrol/Litre / Dec 18	252.10

Gainers
Losers
Leaders

Stock	Price
Dadabhoy Cement / Dec 17 Dadabhoy Cement Industries Limited(DBCI)	7.11 ▲ 1.00 (16.37%)
First Capital Equities / Dec 17 First Capital Equities Limited(FCEL)	6.74 ▲ 0.82 (13.85%)
Oilboy Energy / Dec 17 Oilboy Energy Limited(OBOY)	10.45 ▲ 1.00 (10.58%)
LSE Financial Serv. / Dec 17 LSE Financial Services Limited(LSEFSL)	18.32 ▲ 1.67 (10.03%)
Air Link Com. / Dec 17 Air Link Communication Limited(AIRLINK)	208.93 ▲ 18.99 (10.00%)
Data Agro / Dec 17 Data Agro Limited(DAAG)	126.58 ▲ 11.51 (10.00%)
Fazal Cloth / Dec 17 Fazal Cloth Mills Limited(FZCM)	179.55 ▲ 16.32 (10.00%)
Land Mark Spinning / Dec 17 Landmark Spinning Industries Limited(LMSM)	63.91 ▲ 5.81 (10.00%)
Pak Datacom / Dec 17 Pak Datacom Limited(PAKD)	94.49 ▲ 8.59 (10.00%)

Stock	Price
Tri-Star Power / Dec 17 Tri-Star Power Limited(TSPL)	5.51 ▼ -0.74 (-11.84%)
Gulshan Sp. / Dec 17 Gulshan Spinning Mills Limited(GSPM)	4.19 ▼ -0.51 (-10.85%)
Sanghar Sugar / Dec 17 Sanghar Sugar Mills Limited(SANSM)	32.02 ▼ -3.56 (-10.01%)
Aisha Steel (CPS) / Dec 17 Aisha Steel Mills Limited (CPS)(ASLCPS)	20.17 ▼ -2.24 (-10.00%)
Chakwal Spinning / Dec 17 Chakwal Spinning Mills Limited(CWSM)	53.72 ▼ -5.97 (-10.00%)
Leiner Pak Gelat / Dec 17 Leiner Pak Gelatine Limited(LPGL)	126.67 ▼ -14.07 (-10.00%)
Mari Petroleum / Dec 17 Mari Petroleum Company Limited(MARI)	809.76 ▼ -89.97 (-10.00%)
Quetta Textile / Dec 17 Quetta Textile Mills Limited(QUET)	17.73 ▼ -1.97 (-10.00%)
Fateh Ind. / Dec 17 Fateh Industries Limited(FIL)	120.57 ▼ -13.37 (-9.98%)

Stock	Volume
WorldCall Telecom / Dec 17 Worldcall Telecom Limited(WTL)	403,228,918 ▼ -0.06
Pak Elektron / Dec 17 Pak Elektron Limited(PAEL)	107,379,306 ▲ 3.33
Cnergyico PK / Dec 17 Cnergyico PK Limited(CNERGY)	59,584,754 ▼ -0.06
B.O.Punjab / Dec 17 The Bank of Punjab(BOP)	57,023,129 ▲ 0.59
Pak Refinery / Dec 17 Pakistan Refinery Limited(PRL)	55,947,968 ▲ 3.65
Sui South Gas / Dec 17 Sui Southern Gas Company Limited(SSGC)	42,917,218 ▲ 1.17
PIA Holding Co.Ltd / Dec 17 PIA Holding Company Limited(PIAHCLA)	36,337,248 ▲ 1.16
Fauji Foods Ltd / Dec 17 Fauji Foods Limited(FFL)	33,958,478 ▼ -0.28
Hub Power Co. / Dec 17 The Hub Power Company Limited(HUBC)	33,067,460 ▲ 11.97

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