News Archives for Print - 2020-05-01

Print - 2020-05-01

Media houses: PFUJ concerned at spike in coronavirus cases

Pakistan Federal Union of Journalist (PFUJ) has expressed deep concern over the alarming increase of coronavirus cases in media houses across the country.

Published 01 May, 2020 12:54am

Covid-19 cases far less as compared to other states: PM

Prime Minister Imran Khan has stated that situation in Pakistan is not as bad in terms of the Covid-19 as in other countries especially Western countries and the number of cases in Pakistan is far less as compared to the projection for April 30, 2020.

Published 01 May, 2020 12:54am

MFPCB informed of Covid-19 impacts on GDP, exports

A meeting of the Monetary and Fiscal Policies Co-ordination Board (MFPCB) presided by the adviser on Finance Dr Abdul Hafeez Shaikh has been informed of serious impacts of coronavirus pandemic on GDP growth as well as on aggregate demand and supply and th

Published 01 May, 2020 12:54am

Joblessness, poverty may rise: EAD

The Economic Affairs Division (EAD) has stated that due to contraction in economic growth and fall in workers' remittances, the unemployment in Pakistan will increase leading towards raise in poverty besides tightening of financial conditions, leading to

Published 01 May, 2020 12:54am

Holiday Notice

The offices of Business Recorder will remain closed today, Friday (May 1) on account of Labour Day. Arrangements have, however, been made to bring out the newspaper tomorrow, Saturday (May 2), as usual.

Published 01 May, 2020 12:54am

Rishi Kapoor dies at 67

Bollywood mourned a second loss in as many days as celebrated actor Rishi Kapoor, whose career spanned half a century, died Thursday aged 67 after a prolonged struggle with cancer.

Published 01 May, 2020 12:54am

Committee's claims rebutted: T&D losses, taxation cause increase in tariff: IPPs

While rebutting most of the claims of a nine-member committee's 296-page report, Independent Power Producers (IPPs) asserted that the main reason for high power tariff in Pakistan is higher Transmission and Distribution (T&D) losses and taxation.

Published 01 May, 2020 12:54am

Stocks

KSE-100 Index jumps 952.80 points: BRIndex100 stages smart rally

Pakistan Stock Exchange closed on a strong positive note with healthy gains on the second day in a row Thursday.

Published 01 May, 2020 12:54am

Payment of wages, salaries: 700 companies apply for Rs 65 billion financing

Some 700 companies have applied for Rs 65 billion financing under the Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns.

Published 01 May, 2020 12:54am

Money & Banking

Gains on inter-bank

Pakistan rupee appreciated on Thursday in interbank market against USD whereas it showed a mixed trend in open market.

Published 01 May, 2020 12:54am

POL products' prices slashed by up to Rs 30

The federal government on Thursday slashed the prices of all petroleum products by up to Rs30.01 per litre for May by adjusting petroleum levy (PL).

Published 01 May, 2020 12:54am

PBA seeks reduction in tax rate on banks

Pakistan Banks Association (PBA) has proposed reduction in tax rate on banks from 35 percent to 29 percent, reduced rate of minimum tax of one percent, withdrawal of super tax, compensation on monthly advance tax payment and uniformity in Federal Excise D

Published 01 May, 2020 12:54am

Ecnec approves four projects of over Rs 249 billion

A meeting of the Executive Committee of the National Economic Council (Ecnec) has approved four projects of over Rs249 billion for infrastructure, health as well as agriculture and water sectors (Diamer-Bhasha Dam Project acquisition of land and resettlem

Published 01 May, 2020 12:54am

Foreign companies: Repatriation of profit, dividends falls by 4 percent

Repatriation of profits and dividends by foreign companies operating in Pakistan fell 4 percent during the first nine months of the current fiscal year (FY20).

Published 01 May, 2020 12:54am

July-April period: Provisional tax collection stands at Rs 3.3 trillion

Despite lockdown and closure of businesses across the country, the Federal Board of Revenue (FBR) has been able to collect Rs242.460 billion during the month of April 2020 against Rs289.905 billion in April 2019, reflecting a decrease of 16.4 percent.

Published 01 May, 2020 12:54am

SNGPL still without permanent MD

Sui Northern Gas Pipelines Limited (SNGPL) is without a permanent MD for the most part under the present government. The recruitment process has been completed twice but shelved at the last minute.

Published 01 May, 2020 12:54am

MSCI review on May 12: Pakistan may come under scrutiny again

Pakistan is expected to once again come under scrutiny in the Morgan Stanley Semi Annual Index Review May-2020 for a potential downgrade from Emerging Markets to Frontier Markets, analysts said.

Published 01 May, 2020 12:54am

NA Speaker tests positive

The National Assembly Speaker, Asad Qaiser, has tested positive for the novel coronavirus, he announced on Twitter late Thursday night. "I have put myself in self-quarantine," Qaiser said on Twitter, confirming he had the virus.

Published 01 May, 2020 12:54am

US permits PIA for direct flight operations

The United States (US) has given a year permit to Pakistan International Airline (PIA) for direct flights operations to New York and Washington DC.

Published 01 May, 2020 12:54am

Letters

In defence of Maulana Tariq Jamil

This is apropos a Business Recorder editorial "Shooting the messenger" carried by the newspaper yesterday. I, however, do not subscribe to the argument advanced by the newspaper against Maulana Tariq Jamil. Not only is he one of the top scholars in

Published 01 May, 2020 12:54am

Articles

The devil's in the detail for junk debt investors facing coronavirus defaults

Before the coronavirus, investors hungry for returns piled into risky corporate loans and bonds with precious little protection for creditors. Now they're frantically scouring the terms to see just what firms can get away with to survive the fallout.

Published 01 May, 2020 12:54am

Articles

Covid-19 and 'Green New Deal' - I

The multiple failings of neoliberal agenda since its beginnings in the late 1970s - manifested in economic policies, including those of structural adjustment programmes by multilateral institutions like International Monetary Fund (IMF) and backed by mani

Published 01 May, 2020 12:54am

Articles

Covid-19: economic & tax reliefs

Pakistan is facing the brunt of Coronavirus outbreak as the country is in a partial lock down. This has had a negative impact on businesses. Initial estimates show that the economy will witness sluggish growth in services, manufacturing and agriculture se

Published 01 May, 2020 12:54am

Mysterious drop in number of tests

The Ministry of National Health Services' data showed on April 28, 2020 that the number of tests for the coronavirus pandemic had inexplicably come down in all the provinces, with the notable exception of Sindh. The southern province reported 341 of the 7

Published 01 May, 2020 12:54am

Reset and reboot

In the worst case scenario growth rate would remain negative 1.5 percent, so stated the Ministry of Finance in the aftermath of a meeting with representatives from multilateral institutions stationed in Islamabad notably the International Monetary Fund (I

Published 01 May, 2020 12:54am

Energy

'Solar power generation shouldn't be part of national grid'

Solar power generation should not be part of the national grid. Instead, it should be community-based and managed at the local level. Also, this is high time to opt for solar energy because solar power equipment has become quite cheap thus reducing the co

Published 01 May, 2020 12:54am

Coronavirus claims 361 lives so far: NCOC

The coronavirus has claimed 361 lives in Pakistan so far, while the total Covid-19 cases in the country has reached 16,276, of which 4,105 have recovered, the National Command and Operation Center (NCOC) said.

Published 01 May, 2020 12:54am

Lockdown will continue: Nasir

Sindh Minister for Information & Local Government, Syed Nasir Hussain Shah Thursday said that lockdown will continue in the province.

Published 01 May, 2020 12:54am

Senate session demanded to consider option of convening requisition session

While the federal government has dismissed the possibility of immediately summoning Senate session as a precautionary measure in the backdrop of the outbreak of coronavirus, the senators have once again demanded a Senate session be held and to consider th

Published 01 May, 2020 12:54am

Engro Foundation commits Rs 20 million financial assistance to SKMCH

Engro Foundation, the social investment arm of Engro Corporation, has committed to provide Rs 20 million in financial assistance to Shaukat Khanum Memorial Cancer Hospital and Research Centre to expand COVID-19 testing capacity across Southern Punjab and

Published 01 May, 2020 12:54am

Articles

Partly Facetious: Economic managers

"See you get an economist and you have out of the box innovative thinking."

Published 01 May, 2020 12:54am

SHC restrains IATA from taking any coercive action against travel agencies

The Sindh High Court (SHC) has restrained the International Air Transport Association (IATA) from taking any coercive action against travel agencies including encashment of their guarantees by suspending the payment of cancelled tickets in present conditi

Published 01 May, 2020 12:54am

Two sub-sectors of I-10 sealed as number of Covid-19 patients increases

The district administration on Thursday sealed two sub-sectors of I-10 due to increase in number of coronavirus infected people, and asked the police, the Rangers and the Pakistan Army to cordon off the area.

Published 01 May, 2020 12:54am

Long-term plan and vision pre-requisite for uplift, prosperity: PM

Prime Minister Imran Khan stated on Thursday that a long-term plan, self-belief and vision are pre-requisite for the development and prosperity of the country, adding that the government has been working to chalk out such a plan.

Published 01 May, 2020 12:54am

Private schools bound to give 20 percent concession in April, May fees

Sindh Additional Advocate General Shabir Shah on Wednesday said after the dismissal of all the petitions by the Sindh High Court, now all the private schools bound to give 20 percent fee concession to the students as per the decision of Sindh Cabinet.

Published 01 May, 2020 12:54am

Energy

KE offers instalment plan for ISPA arrears to facilitate industries

In the light of current Covid-19 crisis and the resulting unprecedented situation, K-Electric, on the request of industrial consumers, extended relief to the industrial sector by deferring the collection of Industrial Support Package (ISPA) arrears till A

Published 01 May, 2020 12:54am

Money & Banking

Forex reserves exceed $18 billion

With the arrival of funds from the International Monetary Fund (IMF), Pakistan's total liquid foreign exchange reserves crossed $18 billion mark at the end of last week.

Published 01 May, 2020 12:54am

Suspension of operation: SHC seeks reply from Railways, others

Sindh High Court (SHC) on Thursday sought the reply from the Ministry of Railways and others in a petition related to the suspension of railways operation due to Coronavirus.

Published 01 May, 2020 12:54am

Commodities

Southern Punjab, Sindh: Farmers advised to step up irrigating cotton, maze

Farmers should step up irrigating cotton and spring season maze across southern Punjab and Sindh in May 2020, the Met Office said in weather outlook on Thursday.

Published 01 May, 2020 12:54am

Business & Economy

ECNEC approves Punjab human capital investment project

The Executive Committee of the National Economic Council (ECNEC) on Thursday approved the Punjab human capital investment project (PHCIP).

Published 01 May, 2020 12:54am

PTI MPA announces to raise Rs 10 million for LRBT

Pakistan Tehreek-e-Insaf (PTI) Sindh Assembly member Shehzad Qureshi has announced to raise Rs 10 million for Layton Rahmatullah Benevolent Trust (LRBT), Pakistan's one of the largest non-government organization working to fight blindness in the country.

Published 01 May, 2020 12:54am

Cotton & Textile

PHMA asks government for refunds

Pakistan Hosiery Manufacturers and Exporters Association (PHMA) on Tuesday requested the government to release old refunds of the textile exporters to ease the continuing liquidity crunch. The association also lauded the government's initiative for speedi

Published 01 May, 2020 12:54am

Business & Economy

NKATI leaders appeal to Sindh govt to continue lockdown

Patron-in-Chief North Karachi Association of Trade Industry (NKATI) Capt A Moiz Khan (Retd) and President Nasim Akhtar have expressed grave concern over rumors of end or easing of lockdown across Sindh, including Karachi, and appealed to Chief Minister Si

Published 01 May, 2020 12:54am

PFA seals three food points over adulteration

The Punjab Food Authority (PFA) on Thursday sealed three food points and discarded thousands of kilograms unwholesome food while carrying out an operation against adulterated milk and eatables in different districts of Punjab.

Published 01 May, 2020 12:54am

Business & Economy

PIA decertifies employees' associations

Pakistan International Airline (PIA) has annulled all working agreements with employees' associations, announcing to derecognise them with immediate effect.

Published 01 May, 2020 12:54am

Covid-19 claims 12 more lives in Sindh, says CM

In Sindh, 12 patients of Covid-19 lost their lives while 47 struggling in critical condition against the infection. This is the highest number of deaths since March 19 when the first death stemming from Covid-19 was reported.

Published 01 May, 2020 12:54am

Business & Economy

Lockdown starts hitting trade & industry hard: business leaders

Expressing concern over halt in trade and industrial activities due to lockdown amid Covid-19 pandemic, business community representatives said on Thursday that prolonged lockdown and suspension of trade and industrial activities are yielding negative imp

Published 01 May, 2020 12:54am

Sindh government sanctions Rs 30 million for setting up field hospital at PAF museum

Sindh Coronavirus Emergency Fund Committee, headed by Sindh Chief Secretary Syed Mumtaz Ali Shah, in its 10th meeting on Thursday sanctioned Rs30 million for establishing 300-bed Field Hospital at PAF Museum Karachi.

Published 01 May, 2020 12:54am

Energy

PSO BoM reviews company's performance during nine months

Pakistan State Oil (PSO), the leading oil marketing company of Pakistan, convened its Board of Management (BoM) meeting to review the company's performance during the nine months of fiscal year 2019-20 which concluded on March 31, 2020.

Published 01 May, 2020 12:54am

PTI urges Sindh government to mobilise PM's CRTF

The Pakistan Tehreek-e-Insaf (PTI) government on Thursday urged the Pakistan People's Party's provincial government in Sindh to mobilise the Prime Minister's Corona Relief Tiger Force (CRTF) in the province to facilitate the local administration, carrying

Published 01 May, 2020 12:54am

Money & Banking

ABL donates Rs 60 million to PM's Covid-19 fund

In wake of the recent COVID-19 pandemic, Allied Bank has provided financial support to various NGOs and hospitals in the country by way of donating Rs 60 million which also includes contribution to the Prime Minister's Covid-19 Relief Fund 2020.

Published 01 May, 2020 12:54am

Business & Economy

World Bank report: FWCCI voices concern over proportion of women in labour force

President Faisalabad Women Chamber of Commerce and Industry (FWCCI) Qurat-ul-Ain has expressed concern over the recent report of World Bank that women make only 25 percent of the Pakistan's labour force which is lowest in this region.

Published 01 May, 2020 12:54am

Taxes

Annex-H (stock statement): FBR extends time limit for filing

The Federal Board of Revenue (FBR) has extended the time limit for filing of Annex-H (stock statement) for the tax periods of July 2019 to November 2019 up to May 15, 2020.

Published 01 May, 2020 12:54am

Business & Economy

Government's package for SMEs hailed

Chairman Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry on Thursday hailed the announcement of the Prime Minister's relief package for small business and ban on export of essential food item.

Published 01 May, 2020 12:54am

Lockdown period: Steps taken by FIA reduce cyber financial crimes by 50 percent

Effective measures taken by the Cyber Crime Wing-FIA, during COVID-19 lockdown, result in the reduction of cyber financial crimes across Pakistan

Published 01 May, 2020 12:54am

Punjab cabinet imposes ban on unnecessary expenditures

The Punjab Cabinet has imposed a ban on unnecessary expenditures along with the release of new supplementary grants to ensure strict financial discipline. However, payment of salaries and pensions will be continued as per routine.

Published 01 May, 2020 12:54am

UBL partners with Saylani Trust ration distribution project

UBL recently joined hands with Saylani Welfare International Trust, a reputable charitable organization, to distribute ration bags to needy families across Pakistan.

Published 01 May, 2020 12:54am

HabibMetro Bank donates Rs 20 million to PM's Relief Fund

HabibMetro Bank has pledged Rs 50 million to support Pakistan's fight against the coronavirus. As part of this initiative the Bank donated Rs 20 million to the Prime Minister's Covid-19 Relief Fund. Mohsin Ali Nathani, President & CEO HabibMetro Bank pres

Published 01 May, 2020 12:54am

Business & Economy

PVMA says continued closure of Pak-Afghan border a threat to businesses

Pakistan Vanaspati Manufacturers Association (PVMA) on Wednesday said continued closure of Pak-Afghan border has become a threat to businesses on both sides of the divide.

Published 01 May, 2020 12:54am

Coronavirus-hit agriculture sectors: Ministry seeks Rs 63.8 billion subsidy

Ministry of National Food Security and Research (MoNFS&R) has reportedly sought a subsidy of Rs 63.8 billion for different agriculture related sectors which are hit by the outbreak of Covid-19.

Published 01 May, 2020 12:54am

Of commissions & enquiries

As a young adult, many moons back, I had written and kept on my study table, the following words of John Ruskin, "for no human actions ever were intended by the Maker of Men to be guided by balances of expediency, but by balances of justice. He has theref

Published 01 May, 2020 12:54am

3,600 families given ration in Sanghar

On the directives of Deputy Commissioner Sanghar, Dr Imranul Hassan Khawaja, NGO Malteser International Sanghar distributed ration among 3600 poor families in taluka Jam Nawaz Ali.

Published 01 May, 2020 12:54am

Telecommunication

Smartphone manufacturing: MIT&T to submit summary to ECC soon

The Ministry of Information Technology and Telecommunication will submit a summary to the Cabinet's Economic Coordination Committee (ECC) soon, proposing major incentives for smartphones manufacturing in Pakistan.

Published 01 May, 2020 12:54am

Taxes

FBR allows Tier-1 retailers to adjust input tax to 95 percent extent

The Federal Board of Revenue (FBR) has allowed entire Tier-1 retailers who have integrated all their point of sales (POSs) with the Board's system, to adjust input tax to the extent of 95 percent of the output tax for the tax period.

Published 01 May, 2020 12:54am

Local bodies polls postponed: KP approves establishment of Power Transmission and Grid System Company

The cabinet of Khyber Pakhtunkhwa on Thursday announced postponement of the local bodies' elections due to the coronavirus emergency in the province. The meeting of the provincial cabinet was held here with Chief Minister Mahmood Khan in the chair.

Published 01 May, 2020 12:54am

Malik urges government to invoke 'force majeure' to have foreign debts written off

Pakistan People's Party (PPP) Senator Rehman Malik on Thursday submitted a resolution in the Senate Secretariat urging the federal government to invoke "Force-Majeure Law" to have Pakistan's foreign debts written off from the International Monetary Fund (

Published 01 May, 2020 12:54am

Appointment of interim CM: SC allows federal government to issue Presidential Order

The Supreme Court on Thursday allowed the federal government to issue Presidential Order for appointing interim chief minister and conducting election in Gilgit-Baltistan.

Published 01 May, 2020 12:54am

Money & Banking

ECB ready to reload as 'unprecedented' slump hits

With the coronavirus pandemic set to inflict an "unprecedented" peacetime slump on the eurozone economy, European Central Bank chief Christine Lagarde said Thursday the institution's trillion-euro response could be expanded and prolonged into 2021.

Published 01 May, 2020 12:54am

IT & Computers

Facebook sees 'signs of stability' in ad spending

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse bet

Published 01 May, 2020 12:54am

IT & Computers

Twitter swings to loss

Twitter swung to a loss in the past quarter as the global pandemic hit advertising revenue, even as the social platform saw a surge in new users. In its quarterly update Thursday, Twitter saw an $8 million loss as revenues edged up three percent to $808 m

Published 01 May, 2020 12:54am

Global Business Economy

Millions of Americans continue to seek jobless benefits; consumer spending slumps

Millions more Americans filed claims for unemployment benefits last week, suggesting that layoffs were spreading to industries that were not initially directly impacted by business closures and disruptions related to the novel coronavirus.

Published 01 May, 2020 12:54am

Global Business Economy

Eurozone economy shrinks at record rate, worse to come

The eurozone economy contracted at a record rate in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday.

Published 01 May, 2020 12:54am

Global Business Economy

Chinese factory activity slows in face of global pandemic

Chinese factory activity continued to expand in April, data showed Thursday, but analysts warned that the outlook remained clouded by battered overseas demand as the rest of the world struggles to overcome the coronavirus pandemic.

Published 01 May, 2020 12:54am

Danish poet Yahya Hassan dies

Danish-Palestinian bad-boy poet Yahya Hassan, who stormed on to Denmark's literary scene in 2013 and quickly became a household name, has died aged just 24, his publisher said Thursday.

Published 01 May, 2020 12:54am

South African anti-apartheid veteran Denis Goldberg dies

South African activist Denis Goldberg, one of Nelson Mandela's closest colleagues in the struggle against apartheid, has died at 87, his family and foundation announced on Thursday.

Published 01 May, 2020 12:54am

Money & Banking

Lebanon to seek IMF funding after approving reform plan

Lebanon will seek financial help from the International Monetary Fund, Prime Minister Hassan Diab said Thursday, as the government adopted a long-awaited economic rescue plan after a new wave of street protests.

Published 01 May, 2020 12:54am

Tajikistan declares first coronavirus cases

Tajikistan registered its first coronavirus cases on Thursday, one of the last countries in the world to confirm it had been affected by the pandemic. Five people had tested positive for the disease in the capital Dushanbe and a further 10 in the northern

Published 01 May, 2020 12:54am

UK 'past peak' of coronavirus outbreak: PM Johnson

Britain is "past the peak" of its coronavirus outbreak, Prime Minister Boris Johnson said Thursday, despite recording another 674 deaths in the last 24 hours, taking the toll to 26,711.

Published 01 May, 2020 12:54am

Global Business Economy

Over 130 virus therapies under investigation: pharma group

More than 130 therapies are being investigated as possible treatments for the coronavirus, a leading pharmaceutical industry association said Thursday.

Published 01 May, 2020 12:54am

Global Business Economy

Pfizer eyes 10-20 million doses of experimental COVID-19 vaccine by year-end

Pfizer voiced hope Thursday it could roll out up to 20 million doses of a COVID-19 vaccine it is developing with German firm Biontech for emergency use by the end of 2020Pfizer.

Published 01 May, 2020 12:54am

New coronavirus not man-made or genetically modified: US intelligence

The US intelligence community said Thursday it had concluded that the novel coronavirus that has swept the globe originated in China but was not man-made or engineered.

Published 01 May, 2020 12:54am

Stocks

Saudi index outperforms region

Saudi Arabia's stock market rose sharply on Thursday, outperforming the region on rising oil prices and easing coronavirus-related restrictions. Benchmark Brent crude was up 11.49%, or $2.59 at $25.13 a barrel at 1157 GMT, buoyed by signs that the US crud

Published 01 May, 2020 12:54am

Stocks

China stocks log best month in five

China stocks rallied on Thursday to post their biggest monthly advance since December, after positive trial results for a drug to treat COVID-19 and downbeat data reinforced hopes of further stimulus to bolster the world's second-largest economy.

Published 01 May, 2020 12:54am

Stocks

Thursday's early trade: Wall Street falls

US stocks fell on Thursday as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.

Published 01 May, 2020 12:54am

Stocks

Wall Street rallies

US stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from US Federal Reserve Chair Jerome Powell.

Published 01 May, 2020 12:54am

Stocks

Tokyo shares up

Japanese stocks scaled a near eight-week closing high on Thursday, tracking Wall Street's overnight rally on promising early trial results of an experimental COVID-19 treatment, as well as on solid tech earnings and a surge in oil prices.

Published 01 May, 2020 12:54am

Stocks

European shares end winning streak

European shares fell from seven-week highs on Thursday after the European Central Bank held back on big policy moves despite mounting evidence of the damage being wrought on the euro zone economy by the coronavirus crisis.

Published 01 May, 2020 12:54am

Stocks

Shell knocks FTSE lower

An 11% plunge in the shares of oil giant Royal Dutch Shell knocked UK's FTSE 100 lower on Thursday, after the company cut its dividend for the first time since World War Two to cope with the fallout of the coronavirus crisis.

Published 01 May, 2020 12:54am

Money & Banking

Rupiah jumps as most Asian currencies up

The Indonesian rupiah rose nearly 3% on Thursday on expectation of a pickup in bond inflows, while most other Asian units also firmed ahead of a long weekend as investors cheered promising early trial results of an experimental COVID-19 treatment.

Published 01 May, 2020 12:54am

Money & Banking

Early trade in New York: Dollar slips in choppy trading for month-end

The dollar fell on Thursday in choppy trading as investors rebalanced portfolios for month-end and after US stock markets pared losses, but remained lower on the day.

Published 01 May, 2020 12:54am

Money & Banking

Euro broadly flat in Europe

The euro was broadly flat on Thursday after preliminary euro zone economic growth data was even more dire than expected, as investors looked ahead to the European Central Bank (ECB) meeting, while the dollar held near two-week lows.

Published 01 May, 2020 12:54am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 130,235 tonnes of cargo comprising 65,556 tonnes of import cargo and 64,679 tonnes of export cargo including 7,849 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Published 01 May, 2020 12:54am

Commodities

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,556. The traded value of metals, energy and COTS/FX was recorded at PKR 5.603 billion and the number of lots traded was 15,164.

Published 01 May, 2020 12:54am

Commodities

CBOT corn futures up

Chicago Board of Trade corn futures gained slightly on Wednesday as reports of a decline in weekly US ethanol stocks countered pressure from a strong planting pace in the Midwest.

Published 01 May, 2020 12:54am

Cotton & Textile

Cotton business likely to resume on easing of lockdown

Traders are hopeful that after the easing of lockdown in the coming days trading activity will resume.

Published 01 May, 2020 12:54am

Oil prices surge on last day of roller-coaster month

Energy

Rates

LME official prices

The following were Wednesday official prices.

Published 01 May, 2020 12:54am

Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (April 30, 2020).

Published 01 May, 2020 12:54am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 21	278.16
USD PKR Interbank Buying / Nov 21	277.96
USD to Japanese Yen / Nov 21	154.53
USD to Swiss Franc / Nov 21	0.89
Pound Sterling to USD / Nov 21	1.26
Euro to USD / Nov 21	1.05

Stock	Volume
S&P 500 / Nov 21	5,948.71
India Sensex / Nov 21	77,155.79
Tokyo Nikkei / Nov 21	38,026.17
Nasdaq / Nov 21	18,972.42
Hang Seng / Nov 21	19,601.11
FTSE 100 / Nov 21	8,149.27
Dow Jones / Nov 21	43,870.35
Germany DAX 30 / Nov 21	19,146.17

Item	Value
Crude Oil USD/Barrel / Nov 21	70.18
Karachi Cotton PKR/37.32 KG / Nov 21	17,785
Gold 10 Grams PKR / Nov 21	238,340
Gold Spot USD/Ounce / Nov 21	2,669.46
Cotton US¢/pound / Nov 21	70.43
Petrol/Litre / Nov 22	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 22 786 Investments Limited(786)	7.11 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 22 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▼ 0.00 (0.00%)
Agro Allianz / Nov 22 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 22 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 22 Ali Asghar Textile Mills Limited(AATM)	63.60 ▼ 0.00 (0.00%)
Allied Bank / Nov 22 Allied Bank Limited(ABL)	114.42 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 22 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▼ 0.00 (0.00%)
Abson Ind. / Nov 22 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 22 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 22 786 Investments Limited(786)	7.11 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 22 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▲ 0.00 (0.00%)
Agro Allianz / Nov 22 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 22 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 22 Ali Asghar Textile Mills Limited(AATM)	63.60 ▲ 0.00 (0.00%)
Allied Bank / Nov 22 Allied Bank Limited(ABL)	114.42 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 22 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▲ 0.00 (0.00%)
Abson Ind. / Nov 22 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 22 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 22 K-Electric Limited(KEL)	174,389,145 ▲ 0.00
Hascol Petrol / Nov 22 Hascol Petroleum Limited(HASCOL)	63,973,243 ▲ 0.00
Kohinoor Spining / Nov 22 Kohinoor Spinning Mills Limited(KOSM)	62,996,737 ▲ 0.00
Aisha Steel Mill / Nov 22 Aisha Steel Mills Limited(ASL)	48,137,561 ▲ 0.00
Waves Home Appliances / Nov 22 Waves Home Appliances Limited(WAVESAPP)	43,506,391 ▲ 0.00
Lotte Chemical / Nov 22 Lotte Chemical Pakistan Limited(LOTCHEM)	40,852,960 ▲ 0.00
Telecard Limited / Nov 22 Telecard Limited(TELE)	36,937,252 ▲ 0.00
Cnergyico PK / Nov 22 Cnergyico PK Limited(CNERGY)	31,401,025 ▲ 0.00
WorldCall Telecom / Nov 22 Worldcall Telecom Limited(WTL)	31,346,592 ▲ 0.00

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