News Archives for Print - 2020-04-23

Print - 2020-04-23

SAARC member states: Pakistan will host video conference today

Pakistan will host a video conference of SAARC member states today (Thursday) to discuss a joint response of the regional countries to COVID-19 pandemic.

Published 23 Apr, 2020 02:53am

Stocks

KSE-100 Index inches up: BRIndex100 flat

Pakistan Stock Exchange Wednesday witnessed a mixed trend as investors remained cautious due to their concerns over coronavirus spread.

Published 23 Apr, 2020 02:53am

Government all set to issue quarterly profit PIBs

The government is all set to issue 3 and 5-year floating-rate Pakistan Investment Bonds (PIBs) with quarterly profit payments meant to attract investors who want to avoid interest rate risk, sources close to Secretary Finance told Business Recorder.

Published 23 Apr, 2020 02:53am

$150m being allocated against Covid-19: IsDB says ITFC directed to finalise $500m for oil, LNG import

Expressing its full support for Pakistan, the Islamic Development Bank (IsDB) on Wednesday stated that the International Islamic Trade Finance Corporation (ITFC) has been directed to immediately finalize $500 million for import of oil and LNG, and an amou

Published 23 Apr, 2020 02:53am

WB projects 23 percent decline in remittances

The World Bank has projected 23 percent decline in remittances for Pakistan, totaling about $17 billion in 2020, compared with $22.5 billion in 2019, due to the economic crisis induced by the Covid-19 pandemic, and shutdown as well as decline in oil price

Published 23 Apr, 2020 02:53am

Salary refinance scheme: SBP announces more incentives for business concerns

In order to facilitate the business concerns, the State Bank of Pakistan (SBP) Wednesday announced reduction in the interest rate for active taxpayers under the Refinance Scheme for Payment of Wages and Salaries and allowed banks to extend financing again

Published 23 Apr, 2020 02:53am

IMF gives $1.39bn under RFI

Pakistan Wednesday received inflows amounting to $ 1.39 billion from the International Monetary Fund (IMF) under the Rapid Financing Instrument to address the economic impact of the COVID-19 shock.

Published 23 Apr, 2020 02:53am

PM tests negative

Special Assistant to the Prime Minister (SAPM) on National Health Dr Zafar Mirza Wednesday announced that Prime Minister Imran Khan had been tested "negative" for the coronavirus.

Published 23 Apr, 2020 02:53am

Accountholders: Banks reluctant to provide withholding data

The Federal Board of Revenue (FBR) Member Inland Revenue Operations Seema Shakeel has said that the banks are still reluctant to provide withholding data of the accountholders under cover of the secrecy laws.

Published 23 Apr, 2020 02:53am

Race for virus vaccine picks up as Germany, UK start trials

The race to develop an effective vaccine against the novel coronavirus gathered pace this week, as clinical trials on humans were approved in Germany and launched in the UK.

Published 23 Apr, 2020 02:53am

Fight climate change like coronavirus: UN

The world should fight climate change with the same determination it is showing in the battle against the new coronavirus, the United Nations said on Wednesday.

Published 23 Apr, 2020 02:53am

Next three to four weeks very critical: Zafar

The next three to four weeks are very critical for Pakistan, said Special Assistant to the Prime Minister on Health Dr Zafar Mirza on Wednesday, as he briefed the media about the continuing impact of the coronavirus in the country.

Published 23 Apr, 2020 02:53am

Army to continue helping institutions: Bajwa

Chief of Army Staff (COAS) General Qamar Javed Bajwa Wednesday said that Pakistan Army will continue its cooperation with the civil institutions in fight against the novel coronavirus, Inter-Services Public Relations (ISPR) reported.

Published 23 Apr, 2020 02:53am

First phase of disbursement approved: ECC shows fellow feeling for labourers

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved first phase disbursement of Rs75 billion from Prime Minister's Relief Package of Rs200 billion under "Mazdoor Ka Ehsaas Programme" for targeted payments to daily wagers affect

Published 23 Apr, 2020 02:53am

Money & Banking

THE RUPEE: Appreciation persists

Trend of appreciation continued on Wednesday for Pakistan rupee in both interbank and open market.

Published 23 Apr, 2020 02:53am

Trump, PM discuss Covid-19, Afghanistan

Prime Minister Imran Khan and US President Donald Trump held a telephonic conversation yesterday, said a press release issued on Wednesday.

Published 23 Apr, 2020 02:53am

Daniel Pearl case: Sindh challenges SHC verdict in SC

The Sindh prosecution challenged the Sindh High Court (SHC) verdict in the top court to acquit the convicts involved in the murder of Daniel Pearl, bureau chief of Wall Street Journal in Pakistan.

Published 23 Apr, 2020 02:53am

SECP relaxes key compliance requirements for NBFCs

The Securities and Exchange Commission of Pakistan (SECP) has relaxed key compliance requirements for the non-banking finance companies (NBFCs) including extension up to May 31, 2020, for submission of the quarterly financial statements.

Published 23 Apr, 2020 02:53am

First two quarters of CY2020: Banks asked to suspend disbursement of dividends

In a major move to conserve capital, the State Bank of Pakistan (SBP) on Wednesday directed banks to suspend the disbursement of dividends for March and June 2020 quarters.

Published 23 Apr, 2020 02:53am

Mufti Muneeb says will pray at home in Ramazan

The Chairman of Ruet-e-Hilal Committee Mufti Muneeb-ur-Rehman has said that he is offering prayers at home and will continue to do so during Ramazan.

Published 23 Apr, 2020 02:53am

Ehsaas Emergency Cash Programme: Rs 65.249 billion disbursements made to 5.437m beneficiaries, PM told

Prime Minister Imran Khan has been informed that overall disbursements of Rs65.249 billion have been made to 5.437 million beneficiaries across the country in categories 1 and 2 under the Ehsaas Emergency Cash Programme.

Published 23 Apr, 2020 02:53am

Ministry suspends Member sugar, wheat crisis body

The Ministry of Interior suspended a member of sugar and wheat crisis inquiry commission on charge of allegedly leaking information of the inquiry to relevant people.

Published 23 Apr, 2020 02:53am

1Q2020: HBL consolidated profit surges by 29 percent to Rs4.1 billion

Habib Bank Limited (HBL) on Wednesday declared a consolidated profit after tax of Rs 4.1 billion for the first quarter of 2020, a growth of 29 percent over the same period last year. Earnings per share increased to Rs 2.79 compared to Rs 2.08 in Q1'2019.

Published 23 Apr, 2020 02:53am

MCB posts 28 percent growth in Q1 PAT

The Board of Directors of MCB Bank Limited (MCB) met under the chairmanship of Mian Mohammad Mansha, on April 22, 2020 to review the performance of the bank and approve the condensed interim financial statements for the first quarter ended March 31, 2020.

Published 23 Apr, 2020 02:53am

Iran says it launched military satellite as Trump threatens ships

Iran said it put its first military satellite into orbit Wednesday, making it an emerging "world power", as the US issued new threats amid rising naval tensions in the Gulf.

Published 23 Apr, 2020 02:53am

Letters

'Healthcare, social security systems needed'

This is apropos a letter to the Editor "Healthcare, social security systems needed" carried by the newspaper yesterday. It is quite true that Rashed Rahman in this op-ed 'Healthcare, social security system needed' carried by the newspaper on Tuesday stron

Published 23 Apr, 2020 02:53am

Articles

No last goodbye for Gulf migrant workers lost to pandemic

The body of the Indian migrant who died from coronavirus far from home was kept inside the ambulance in front of the crematorium in case a friend came by for a last goodbye.

Published 23 Apr, 2020 02:53am

Articles

Lives versus livelihoods?

Nobody would have ever thought to face a terrible trade-off, like we, to either baldly damage our livelihoods through prolonged lockdowns, or to sacrifice the lives of thousands, if not millions, to this pandemic COVID-19.This article is an attempt to eva

Published 23 Apr, 2020 02:53am

Articles

Your weekly columnist: an endangered species?

Once upon a time there was news; compact and closely orchestrated by the Ministry of Information and Broadcasting. Fake news was unheard of; just plain vanilla dispensed by the government. The newspapers read like compendia of badly drafted government han

Published 23 Apr, 2020 02:53am

Zakat, Baitul Mal transparency

A five-member bench of the Supreme Court (SC) headed by Chief Justice of Pakistan (CJP) Gulzar Ahmed hearing a suo motu case regarding measures taken by the federal and provincial governments to combat the coronavirus pandemic has asked some pertinent and

Updated 24 Apr, 2020 07:36am

Sniffing out smugglers?

Surely any sincere and pragmatic effort on the part of the government to check smuggling and hoarding of essential items, especially as economic activity is largely compromised because of the coronavirus pandemic, must be appreciated. It is precisely beca

Updated 24 Apr, 2020 07:35am

Fate of promotion of bureaucrats subject to final verdict: SC

The Islamabad High Court (IHC) said the fate of the promotion of the bureaucrats would be subject to the final verdict of the court.

Published 23 Apr, 2020 02:53am

Covid-19 cases may surge in the next two months, warns Qureshi

Foreign Minister Shah Mahmood Qureshi on Wednesday warned that the cases of the Covid-19 may surge in the coming two months and "increase in mortality rate in the country cannot be ruled out".

Published 23 Apr, 2020 02:53am

PIA to operate special flights to rescue stranded Pakistanis

Pakistan International Airline (PIA) has planned to operate new special flights commencing by next week for Algeria, Khartoum, Nairobi, Jeddah, Oman, Zurich, Amsterdam and Turkey to rescue stranded Pakistanis from these places.

Published 23 Apr, 2020 02:53am

Seminary sealed after Khateeb, 6 family members test positive

The Islamabad Capital Territory (ICT) Administration on Wednesday sealed a seminary after its Khateeb and six other family members were tested positive for the coronavirus.

Published 23 Apr, 2020 02:53am

SC sets aside IHC's judgement on suspension of mobile phone services

The Supreme Court on Wednesday set aside the Islamabad High Court (IHC) judgment regarding suspension of mobile phone services by the government in view of public safety.

Published 23 Apr, 2020 02:53am

Ehsaas Emergency Cash Programme: Rs 65.249 billion distributed among 5.437m families

The Special Assistant to the Prime Minister on Poverty Alleviation and Social Safety, Dr Sania Nishtar, on Wednesday said that the government had so far distributed Rs 65.249 billion among 5.437 million families across the country.

Published 23 Apr, 2020 02:53am

Senate session: Sanjrani's request for NA hall fails to elicit govt nod

Senate Chairman Sadiq Sanjrani's request to National Assembly Speaker Asad Qaiser to allocate NA hall for Senate session has not gone down well with the federal government which is reluctant to convene Senate session in the backdrop of the alarming spread

Published 23 Apr, 2020 02:53am

Physicians urge governments to extend lockdown

Demanding the federal and provincial governments to enforce the country-wide lockdown for another month in letter and spirit, eminent physicians of the country warned that if preventive measures were not taken, number of Covid-19 cases could reach upto 70

Published 23 Apr, 2020 02:53am

Business & Economy

ISPA adjustment charges: NKATI warns it will close factories in protest against KE

North Karachi Association of Trade and Industry (NKATI) leaders have warned K-Electric to stop harassing and not to enforcing Industrial Support Programme (ISPA) adjustment charges till 30th April 2020, otherwise industrialists will lockdown their factori

Published 23 Apr, 2020 02:53am

Government urged to permanently withdraw ISPA arrears

President Federal B Area Association of Trade & Industry (FBATI) Abdullah Abid has urged federal government to permanently withdraw the Industrial Support Package Adjustment (ISPA) arrears and provide relief to the industries.

Published 23 Apr, 2020 02:53am

Taxes

Tax refunds: FBR, field formations not on same page: experts

The Federal Board of Revenue (FBR) should issue income tax refunds in all cases subject to post-refund audit following updation of IBAN account numbers of the taxpayers.

Published 23 Apr, 2020 02:53am

Brief Recordings

Pak Elektron Limited

Pak Elektron Limited (PSX: PAEL) was established as a public limited company in 1956 under the Companies Act, 1913 (now, Companies Act, 2017). It has two business divisions namely power division and appliance division. Under the power division, the compan

Updated 23 Apr, 2020 04:58am

Energy

CNG sector on the brink of bankruptcy due to lockdown

The CNG sector has reached to the brink of bankruptcy as consumption has been reduced by almost 60 percent following lockdown.

Published 23 Apr, 2020 02:53am

Fertilizer industry seeks removal of discrepancies in taxes

The domestic fertilizer industry has sought removal of discrepancies in taxes on different types of fertilizers that are hurting the industry as well as farmers. In this regard, a meeting was held between the representatives of fertilizer industry and the

Published 23 Apr, 2020 02:53am

IT & Computers

Facebook takes $5.7bn stake in India's Jio digital platforms

Facebook has taken a $5.7 billion stake in the Jio digital platforms business of India's richest man, Mukesh Ambani, in one of the country's biggest foreign investments, the companies said Wednesday.

Published 23 Apr, 2020 02:53am

US Senate approves new $480 billion pandemic relief plan

The US Senate approved a bipartisan, nearly half-trillion-dollar coronavirus relief package Tuesday, with funding earmarked for devastated small businesses, overwhelmed hospitals, and a ramp-up of testing nationwide during the pandemic.

Published 23 Apr, 2020 02:53am

Global Business Economy

Half of French private-sector workers now unemployed

More than 10 million employees in France - one out of every two in the private sector - have been laid off during the coronavirus lockdown and are now benefiting from an extended indemnity programme to weather the crisis, the government said Wednesday.

Published 23 Apr, 2020 02:53am

Global Business Economy

WB warns remittance payments to plunge

Developing countries are losing a key source of revenue as the coronavirus pandemic causes worldwide shutdowns, sharply reducing payments from workers living abroad, the World Bank said Wednesday.

Published 23 Apr, 2020 02:53am

Money & Banking

Turkey cuts interest rate

The Turkish central bank on Wednesday cut its main interest rate again by a full percentage point to 8.75 percent despite a fall in the Turkish lira's value against the US dollar.

Updated 23 Apr, 2020 05:27pm

Global Business Economy

Canada inflation slows 'the most since 2006'

Canada's inflation rate fell to 0.9 percent in March amid a pandemic lockdown and a sharp drop in oil prices, the government statistical agency said Wednesday.

Published 23 Apr, 2020 02:53am

France fines US hedge fund Elliott over takeover fight

The French markets regulator said Wednesday that it had imposed a 20 million euro fine on US hedge fund Elliott Management, accusing it of "inaccuracies" during its bid to block a takeover deal five years ago.

Published 23 Apr, 2020 02:53am

West Bank annexation up to Israel: Pompeo

A controversial decision on whether to annex much of the West Bank is the prerogative of Israel's new unity government, US Secretary of State Mike Pompeo said Wednesday.

Published 23 Apr, 2020 02:53am

In role reversal, Egypt sends virus aid to US

Egypt on Tuesday flew a plane of medical supplies to the United States to assist in the fight against the coronavirus pandemic, a role reversal for a top US aid recipient.

Published 23 Apr, 2020 02:53am

US state sues China's leaders over virus

The US state of Missouri has sued China's leadership over the coronavirus, prompting an angry rebuke from Beijing Wednesday over the "absurd" claim.

Published 23 Apr, 2020 02:53am

IT & Computers

Facebook rolls out Messenger Kids to 70 new countries

Facebook on Wednesday rolled out its Messenger Kids application to 70 new countries, saying it can help children deal with the challenges of distance learning and isolation during the virus lockdowns.

Published 23 Apr, 2020 02:53am

IT & Computers

Facebook 'complicit' in Vietnam censorship: Amnesty

Amnesty International on Wednesday accused Facebook of "caving" to Vietnam's strict censorship regime, after the US tech giant confirmed it was blocking content deemed illegal by the country's communist government.

Published 23 Apr, 2020 02:53am

IT & Computers

Russian internet giant offers free coronavirus tests

Russian internet giant Yandex has launched a free coronavirus testing service for the Moscow region as Russia boasts of one of the world's highest testing rates.

Published 23 Apr, 2020 02:53am

UK government accused of slow response to virus outbreak

The new leader of Britain's main opposition Labour party on Wednesday accused the government of being slow in its coronavirus response, as lawmakers met for a virtual session in parliament.

Published 23 Apr, 2020 02:53am

Stocks

Most Gulf indexes rebound

Major stock markets in the Gulf ended higher on Wednesday, buoyed by recovery in Brent crude after prices hit their lowest level since 1999 earlier in the session.

Published 23 Apr, 2020 02:53am

Stocks

European shares gain

A rebound in oil prices and hopes of more stimulus lifted European shares on Wednesday, even as investors remained cautious about a swift recovery as more companies issued worrying financial forecasts.

Published 23 Apr, 2020 02:53am

Stocks

China stocks up

China stocks reversed course to close higher on Wednesday, as investors hoped the government would speed up rolling out further fiscal stimulus to shore up an economy that has been hobbled by the coronavirus pandemic.

Published 23 Apr, 2020 02:53am

Stocks

Wednesday's early trade: Stimulus hopes lift Wall Street

Wall Street's main indexes rose on Wednesday on signs of more stimulus to aid small businesses ride out the coronavirus-induced economic slump and a recovery in oil prices.

Published 23 Apr, 2020 02:53am

Stocks

Wall Street stays down

Wall Street tumbled for a second straight day on Tuesday as a collapse in US oil prices and glum forecasts by companies worsened fears of a deep economic downturn.

Published 23 Apr, 2020 02:53am

Stocks

SE Asian stocks higher

Southeast Asian markets recovered from early losses on Wednesday to end marginally higher, led by a 1.5% rise in Indonesian stocks, which was powered by gains in consumer and telecom stocks.

Published 23 Apr, 2020 02:53am

Stocks

UK's top equity index rises

Britain's top equity index rose on Wednesday as positive corporate updates helped calm the mood after a sharp sell-off in the previous session due to plunging oil prices.

Published 23 Apr, 2020 02:53am

Money & Banking

Dollar jumps against Saudi riyal

The US dollar rose against the Saudi riyal in the forwards market on Wednesday after oil prices slumped.

Published 23 Apr, 2020 02:53am

Money & Banking

Most Asian currencies rangebound

Most Asian currencies moved in a narrow range on Wednesday as weak crude prices gave regional importers a chance to stock up supply, although worries persisted over frail risk sentiment due to oil crash and coronavirus-led uncertainties.

Published 23 Apr, 2020 02:53am

Money & Banking

Sterling recovers

Sterling recovered on Wednesday, as some traders bought back into a currency that had slipped to a two-week low the day before during a flight to financial safe havens after oil prices crashed.

Published 23 Apr, 2020 02:53am

Money & Banking

Early trade in New York: dollar index edges lower

The dollar edged lower on Wednesday, erasing some of the previous day's gains, but safe-haven currencies remained largely well supported even as markets began to stabilize as oil prices recovered from another slump.

Published 23 Apr, 2020 02:53am

Money & Banking

Dollar demand eases, safe-havens still in demand in Europe

The dollar fell slightly on Wednesday, erasing some of the previous day's gains, but safe-haven currencies remained in demand even as the markets began to stabilise while oil prices recovered from another slump.

Published 23 Apr, 2020 02:53am

Taxes

FBR devises centralized system of online payment

FBR has devised a centralized system of online payment of Sales Tax, FED and Income Tax refunds directly in the bank account of the taxpayers. For this purpose, FBR has requested the taxpayers to update their IRIS profile. In the given bank account detail

Published 23 Apr, 2020 02:53am

Business & Economy

Refinance scheme: SBP urged to provide urgent relief to importers

President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has urged the Governor State Bank of Pakistan (SBP) to provide urgent relief to all importers through a refinance scheme whereby the import bills which are due for payment whic

Published 23 Apr, 2020 02:53am

Business & Economy

CDWP approves 3 projects worth Rs 12.55 billion

April 22, 2020:- The Central Development Working Party (CDWP) approved three projects at the cost of Rs12.55 billion and recommended two projects valued at Rs196.6 billion to the Executive Committee of the National Economic Council (ECNEC) for considerati

Published 23 Apr, 2020 02:53am

IT & Computers

Devising strategy for promoting startups in IT industry agreed with UNDP

The Ministry of Information Technology and Telecommunication and the United Nations Development Programme (UNDP) on Wednesday agreed to devise a strategy for promoting startups in the IT industry through business incubation centres and innovation hubs.

Published 23 Apr, 2020 02:53am

Money & Banking

Margin on MTBs down up to 250bps

Following reduction in key policy rate, margin on all short-term government papers declined up to 250 basis points (bps) in the auction held Wednesday.

Published 23 Apr, 2020 02:53am

Telecommunication

Domestic mobile phone industry awaits announcement of MDMP

The domestic mobile phone industry is eagerly awaiting the Mobile Device Manufacturing Policy (MDMP) which has been under preparation for over one year.

Published 23 Apr, 2020 02:53am

Karachi to experience hot weather

The city is likely to experience a spell of hot weather with a maximum of 36 degrees Celsius of temperature in the next 24 hours, the Met Office said on Wednesday. The metropolis's horizons are likely to remain mostly sunny with a maximum temperature of u

Published 23 Apr, 2020 02:53am

PEPCO sources claim: With little rehabilitation, GENCOs are capable of providing energy

The public sector plants of Generation Companies (GENCOs), presently put on standby, are capable of providing energy according to the system's demand with very little investment on their rehabilitation, said reliable sources from Pakistan Electric Power C

Published 23 Apr, 2020 02:53am

Cotton & Textile

PTEA for expeditious disbursement of all outstanding refunds

Pakistan Textile Exporters Association (PTEA) has stressed for expeditious disbursement of all outstanding refunds as the Covid-19 pandemic has significantly impacted the cash flow squeezing the financial streams.

Published 23 Apr, 2020 02:53am

Hoarders of 41 items to get three years' imprisonment

The Punjab government has made hoarding of 41 items a punishable offence up to three years of imprisonment. In this connection, the government promulgated The Punjab Prevention of Hoarding Ordinance 2020, under which any dealer found hoarding an article

Published 23 Apr, 2020 02:53am

Assets beyond means case: Shehbaz again skips NAB hearing

Leader of the Opposition in the National Assembly and Pakistan Muslim League-N President Shehbaz Sharif on Wednesday again skipped the hearing of National Accountability Bureau (NAB) in assets beyond means and money laundering cases citing "threat to his

Published 23 Apr, 2020 02:53am

Smart lockdown, phase-wise opening of units during Ramazan on the cards

While the daily diagnostics corona testing capacity in Punjab has reached to 4500, Chief Minister Punjab Sardar Usman Buzdar has approved the establishment of four additional diagnostic labs for coronavirus in the province.

Published 23 Apr, 2020 02:53am

PML-N seeks Hamza's release amid Covid-19 fears

Pakistan Muslim League-Nawaz (PML-N) has urged the authorities concerned to immediately release the opposition leader in the Punjab Assembly, Hamza Shahbaz, over fears he might get infected in the presence of suspected Covid-19 inmates in the Camp Jail.

Published 23 Apr, 2020 02:53am

Facilities at fish harbour to be improved to meet EU standards

Government has approved two projects in Korangi Fish Harbour (KoFH) for improvement of facilities to bring fish handling practices at par with European Union's hygiene standards.

Published 23 Apr, 2020 02:53am

Business & Economy

Traders vow to open markets by first of Ramazan

Traders on Wednesday vowed to open markets by first Ramazan and blamed the Sindh government for 'delaying tactics' to prolong the lockdown phase into the holy month.

Published 23 Apr, 2020 02:53am

320 new Covid-19 cases emerge in Sindh: CM

Sindh Chief Minister Syed Murad Ali Shah has said that 320 new cases of coronavirus have been diagnosed in the province, of them 308 are of local spread, the highest ever witnessed in the province, and the worst affected is Karachi with over 1300 cases of

Published 23 Apr, 2020 02:53am

Business & Economy

Open all industries and markets, industrialists ask government

The government should allow opening of wholesale and retail markets provided they remained within the parameters of the SOPs. The government should also allow all the industries to start their production forthwith, including downstream industries of expor

Published 23 Apr, 2020 02:53am

Sindh governor briefed about Covid-19 situation in Hyderabad

The Governor Sindh Imran Ismail presided over a meeting to review arrangements for controlling the spread of Coronavirus at Shahbaz Hall, here on Wednesday.

Published 23 Apr, 2020 02:53am

Smuggled cigarettes, Indian gutka seized by MCC

Model Customs Collectorate (MCC), Preventive on Wednesday claimed to have seized huge quantity of smuggled cigarettes and Indian gutka worth Rs 90.45 million at Boltan Market area.

Published 23 Apr, 2020 02:53am

Industries in Sindh to be opened gradually: CS

Chief Secretary Sindh Mumtaz Ali Shah said that Sindh government is cognizant about the economic impact of closure of factories and is committed to allow the industries to function gradually. However, industrialists have to give an undertaking that all pr

Published 23 Apr, 2020 02:53am

Money & Banking

Quarter ended March 2020: ABL's PAT stands at Rs 4.018 billion

Pakistan's banking sector is navigating through an enigmatic economic and operating scenario which encompasses multi facet challenges emanating from changing business models, increasing regulatory compliance requirements, disruptive technological advancem

Published 23 Apr, 2020 02:53am

Energy

KE charging ISPA amount for July-December 2019 period with April 30 deadline

Karachi Electric (KE) is charging Industrial Support Package Adjustment (ISPA) amount for the period July 2019 to Dec 2019 with a deadline to pay on or before 30-04-2020.

Published 23 Apr, 2020 02:53am

Articles

Partly Facetious : What's Maryam's current priority?

"Have you noted that Maryam Nawaz, the former First Daughter, has been extremely quiet lately?"

Published 23 Apr, 2020 02:53am

Commodities

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,371.

Published 23 Apr, 2020 02:53am

Commodities

CBOT soyabean futures rise on bargain buying

Chicago Board of Trade soyabean futures rose on Tuesday, supported by a round of bargain buying after sinking to contract lows early in the session, traders said.

Published 23 Apr, 2020 02:53am

Commodities

US wheat futures mixed

US wheat futures ended mixed on Tuesday, with the most-active Chicago Board of Trade soft red winter wheat contracts and MGEX spring wheat finishing in negative territory on a technical setback and declines in the corn market.

Published 23 Apr, 2020 02:53am

Commodities

Chinese iron ore futures plunge from 8-1/2-month high

Chinese iron ore futures slumped on Tuesday, retreating from a more than 8-1/2-month closing high hit in the previous session, on concerns about surplus supply of the steelmaking raw material as the coronavirus hit demand outside China.

Published 23 Apr, 2020 02:53am

Commodities

Russian wheat crop forecast cut due to dry weather

Dry weather is persisting in Russia's southern regions, the country's main area for wheat production and exports, analysts said on Monday, with one of them, IKAR, downgrading its forecast for the 2020 crop.

Published 23 Apr, 2020 02:53am

Energy

Asia's naphtha turns positive as oil prices fall

Asia's naphtha crack turned positive for the first time this month on Tuesday, helped by a historic price plunge in oil prices.

Published 23 Apr, 2020 02:53am

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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