News Archives for Print - 2020-05-07 - Business Recorder

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Print - 2020-05-07

Tax liability to be determined on whole year's income: SC

Taxes

Tax liability to be determined on whole year's income: SC

The Supreme Court held that income tax liability is to be determined on the basis of taxable income that is derived or legally presumed to have been derived in a whole tax year and not any part of it.

Published 07 May, 2020 12:02am

PM, DG ISI discuss security matters

PM, DG ISI discuss security matters

Director General Inter Services Intelligence (ISI) Lt Gen Faiz Hamid called on Prime Minister Imran Khan here on Wednesday. Matters pertaining to national security were discussed during the meeting, said a press statement issued by the PM Media Office.

Published 07 May, 2020 12:02am

False flag operation: PM warns world about India's dangerous agenda

False flag operation: PM warns world about India's dangerous agenda

Prime Minister Imran Khan Wednesday rejected the baseless allegations by India of "infiltration" across the line of control, saying it was continuation of India's dangerous agenda of a false flag operation targeting Pakistan.

Published 07 May, 2020 12:02am

PSX weathers selling pressure: BRIndex100 depressed

Stocks

PSX weathers selling pressure: BRIndex100 depressed

Pakistan Stock Exchange Wednesday remained under pressure due to selling in various sectors.

Published 07 May, 2020 12:02am

3.8 percent budget deficit witnessed in 9 months

3.8 percent budget deficit witnessed in 9 months

A budget deficit of 3.8 percent or Rs1,687 billion has been recorded during the first nine months of the current fiscal year, July-March 2019-2020, ahead of corona pandemic expenditure and ramifications of lockdown on the revenue and economy of the countr

Published 07 May, 2020 12:02am

MoC drafts STP Framework 2020-25

MoC drafts STP Framework 2020-25

Ministry of Commerce (MoC) has drafted Strategic Trade Policy Framework 2020-25, on the basis of guiding principle of no element of any duties and taxes on exports, sources close to Prime Minister Advisor on Commerce and Investment told Business Record

Published 07 May, 2020 12:02am

Indian troops martyr maths teacher-turned-fighter in IOK

Indian troops martyred four fighters in gun battles in occupied Kashmir on Wednesday, including the commander of the biggest Kashmiri group fighting New Delhi in the disputed Himalayan region, a police official said.
Published 07 May, 2020 12:02am

Recession caused by Covid-19: Cash transfer plan to mitigate impact: WB

The cash transfers programme will be instrumental in mitigating the impact of the upcoming recession due to the novel coronavirus (Covid-19), said the World Bank.
Published 07 May, 2020 12:02am

Educational institutes: Three provinces for continued closure

The inter-provincial education ministers' conference, on Wednesday, failed to develop consensus on the reopening of educational institutes and decided to send the matter to the National Coordination Committee (NCC). The inter-provincial education minister
Published 07 May, 2020 12:02am

Decision on lockdown curbs today

The National Command and Operation Center (NCOC) Wednesday proposed multiple recommendations to ease lockdown restrictions in the country, which were imposed to curb spread of the coronavirus.
Published 07 May, 2020 12:02am

Risk-sharing facility for salary refinance scheme: Government to share burden of losses of banks

In order to incentivize banks for financing SMEs and small corporate entities under the "SBP Refinance Scheme to Support Employment and Prevent Layoff of Workers", the federal government has introduced a risk-sharing mechanism and allocated Rs30 billion u
Published 07 May, 2020 12:02am

Sugar commission has actionable evidence to proceed against millers

The Sugar Inquiry Commission is said to have collected 60 percent actionable evidence to further proceed against the sugar millers involved in illegal activity, well-informed sources told Business Recorder.
Published 07 May, 2020 12:02am

Procurement of wheat: ECC seeks progress report

The Economic Coordination Committee (ECC) of the Cabinet has expressed concern over progress of wheat procurement, and sought a detailed report on progress of wheat procurement by the PASSCO and provincial food departments, and overall wheat production ba
Published 07 May, 2020 12:02am

Money & Banking
THE RUPEE: Slight fall

Pakistan Rupee depreciated by a slight margin on Wednesday in both interbank and open markets.
Published 07 May, 2020 12:02am

EU economy faces historic recession

The EU on Wednesday forecast a historic recession on the continent battered by the deadly coronavirus pandemic, as the US and China escalated their war of words over the origins of the disease.
Published 07 May, 2020 12:02am

IROs powers withdrawn: List of properties/funds exempted from attachment unveiled

In a major move to facilitate sales tax registered persons, the Federal Board of Revenue (FBR) has withdrawn powers of the Inland Revenue Officers to attach/sell houses and other buildings of agriculturists, cattle/seed grains of agriculturists, stipends/
Published 07 May, 2020 12:02am

Notorious Indian bandit dies, after stints in Bollywood, politics

A notorious bandit who spent years rampaging across central India's impoverished badlands before trying his luck as a Bollywood actor and politician has died aged 92, police said Wednesday.
Published 07 May, 2020 12:02am

New York Times sees record gain in digital subscriptions

The New York Times saw a record gain in digital subscriptions in the past quarter and doubled its online readership in March even as the pandemic cut into its advertising revenues.
Published 07 May, 2020 12:02am

Grocery, vegetable shops: Sindh CM orders random Covid-19 tests

Sindh Chief Minister Syed Murad Ali Shah Wednesday directed the health department to start random testing of people at grocery shops, vegetable shops so that local spread could be checked and contained accordingly.
Published 07 May, 2020 12:02am

Afghan forces bust 'IS-Haqqani' cell blamed for deadly attacks

Afghanistan's intelligence agency said Wednesday it had busted a joint Islamic State-Haqqani network cell it accused of carrying out several attacks, including a deadly raid on a Sikh temple in Kabul.
Published 07 May, 2020 12:02am

Shops must show prices, tax separately on menu cards: FBR

To check sales tax evasion, all restaurants, bakeries, caterers and sweetmeat shops supplying prepared food, foodstuff and sweetmeats would be required to show prices and amount of tax separately on menu cards or menu board displayed in their outlets for
Published 07 May, 2020 12:02am

Hungary, Serbia, Montenegro 'no longer democracies': watchdog

Hungary, Serbia and Montenegro can no longer be called democracies after unprecedented democratic backsliding, a rights watchdog said Wednesday, noting the especially "precipitous" fall down the rankings of Prime Minister Viktor Orban's "regime".
Published 07 May, 2020 12:02am

CCP submits report to Ishrat: Action plan for tackling cartelization, abusive business practices

A report submitted by the Competition Commission of Pakistan (CCP) to Dr Ishrat Hussain, Advisor to the Prime Minister for Institutional Reforms and Austerity, has set out a dynamic action plan for the CCP to be implemented between 2020-2023 for tackling
Published 07 May, 2020 12:02am

NCM: Cabinet's decision challenged

The federal cabinet's decision not to include Ahmadis as non-Muslims in the National Commission for Minorities (NCM) was challenged in the Islamabad High Court (IHC).
Published 07 May, 2020 12:02am

SCB CEO Shahzad Dada resigns

Renowned banker Shahzad Dada has resigned from the post of Chief Executive Officer of Standard Chartered Bank (Pakistan).
Published 07 May, 2020 12:02am

Letters
There's no light at the end of the tunnel

Gainful employment has emerged as the most profound challenge in Pakistan following the Covid-19 spread or outbreak. For almost two months, a vast majority of the country's population is finding it extremely difficult to cope with a situation which poses
Published 07 May, 2020 12:02am

Articles
Grim and getting worse: US set for historic unemployment surge

Like a global tsunami, the coronavirus pandemic has caused a huge loss of life and taken a massive economic toll.
Published 07 May, 2020 12:02am

Articles
Oil markets: What happened and what to expect next?

The oil market crash wasn't just due to storage. There is a combination of factors that led to this point.
Published 07 May, 2020 12:02am

Articles
The politics of employment

Robust macroeconomic fundamentals lead to one ultimate goal: jobs. At least that is the theory. You go through the hoops of fiscal consolidation, current account balance, debt sustainability, and manageable inflation to get to sustained economic growth, t
Published 07 May, 2020 12:02am

Unjust justice system

Injustice and incompetence of Pakistan's criminal justice system have been highlighted by no less a person than the Chief Justice of the Islamabad High Court (IHC) Athar Minallah. Exonerating seven accused who had spent nearly 10 years behind bars in diff
Updated 08 May, 2020 03:27am

Renegotiating with IPPs

According to a Business Recorder exclusive, the cabinet's earlier decision to launch an inquiry into Independent Power Producers (IPPs) has been put on hold with the objective of using this as a bargaining chip for a better deal on power tariff. Ne
Updated 07 May, 2020 02:39pm

Covid-19: Mosques are following govt's SOPs: minister

Federal Religious Affairs and Interfaith Harmony Minister Noor-ul-Haq Qadri has said that to limit the spread of the coronavirus, by and large the mosques in Pakistan are following the government's SOPs and 'namazis' are adopting precautionary measures du
Published 07 May, 2020 12:02am

Money & Banking
HBL Chairman congratulates PM for presenting country's largest economic package

Chairman Habib Bank Limited (HBL) Sultan Ali Allana has congratulated Prime Minister Imran Khan for presenting largest economic package of the country's history in order to provide relief to the people in the context of coronavirus situation. The Chairman
Published 07 May, 2020 12:02am

Taxes
Repayment of duty on import of raw materials allowed

The Federal Board of Revenue (FBR) has allowed repayment of customs duty (5.33 percent of the FOB value) on the import of raw materials (RBD palm olein etc) used in export of finished products i.e. supplementary/therapeutic foods from April 27, 2020.
Published 07 May, 2020 12:02am

Licence of track, trace system to NRTC: IHC directs FBR to initiate fresh bidding process under law

The Islamabad High Court (IHC) has set-aside the Federal Board of Revenue (FBR)'s decision to grant licence of track and trace system to the M/s National Radio and Telecommunication Corporation (NRTC) and directed the FBR to initiate a fresh bidding proce
Published 07 May, 2020 12:02am

Brief Recordings
GlaxoSmithKline Pakistan Limited

GlaxoSmithKline Pakistan Limited's (PSX: GLAXO) presence in Pakistan dates back to 1951, as Glaxo Laboratories Pakistan Limited. In 2001, GlaxoSmithKline Pakistan Limited came about as a result of a merger between SmithKline and French of Pakistan Limited
Updated 07 May, 2020 04:36am

Resumption of businesses: Businessmen asked to submit suggestions

Deputy Commissioner Hyderabad Fuad Ghaffar Soomro presiding over a meeting of representatives of business community at Shahbaz Hall Hyderabad on Wednesday asked the businessmen to prepare a list of suggestions for resuming business activities and submit i
Published 07 May, 2020 12:02am

UHS to conduct professional exams from 13th

The University of Health Sciences (UHS) has announced to conduct various professional examinations including MBBS, BDS and M.Phil exams from May 13. These exams were earlier postponed in March this year due to coronavirus pandemic.
Published 07 May, 2020 12:02am

Cricket
PCB's Dream Pairs series: Former spinners Tauseef, Mushtaq choose pair

PCB's Dream Pairs series for Test players has gained great popularity among the fans, current and former players, pundits and journalists. The campaign entered its fourth phase with the fans asked to name two spin bowling pairs of their choice.
Published 07 May, 2020 12:02am

Contrabands, drugs worth over Rs 741 million: MCC Gwadar undertakes destruction

Model Customs Collectorate, Gwadar and Directorate of Intelligence and Investigation, Gwadar undertook destruction of contrabands and narcotics in the presence of representatives of various anti-smuggling agencies, district administration and other releva
Published 07 May, 2020 12:02am

Taftan-Quetta Road project: Rs 8.85 billion revised PC-1 sent for CDWP approval

The National Highways Authority (NHA) Executive Board has recommended "PC-1 for construction of Naukundi-Mashkel Road (103 kms) Taftan-Quetta Road project" at a rationalized cost of Rs8.85 billion for approval of the Central Development Working Party (CDW
Published 07 May, 2020 12:02am

34 opposition senators submit requisition to convene session

A day after the government and the opposition in the National Assembly agreed to call a physical session of the National Assembly; some 34 opposition members in the Senate on Wednesday submitted a requisition with the Senate Secretariat to immediately con
Published 07 May, 2020 12:02am

'Funding not to be problem for Ehsaas Emergency Cash Transfers programme'

The federal government's newly launched Ehsaas Emergency Cash Transfers initiative aims to provide financial assistance mainly to labourers and other deserving population who have lost their livelihood due to the rapid spread of coronavirus across the cou
Published 07 May, 2020 12:02am

PAF C-130 airlifts spray aircraft from Turkey to intensify locust control efforts

To augment Pakistan's locust control efforts, Turkish government has offered its expertise to the Government of Pakistan. In this regard, on the special instructions of Pakistan government, a PAF C-130 aircraft arrived at Adana, Turkey to airlift purpose
Published 07 May, 2020 12:02am

Met predicts mild heatwave in metropolis

The Met Office on Wednesday forecast a mild heat wave spell for the metropolis in the next 24 hours with a hot and humid weather. The Heat Wave Early Warning Centre said that the city is expected to witness a mild heat wave spell on Thursday with a maximu
Published 07 May, 2020 12:02am

Power outage at Sehri in several neighbourhoods

Several city neighborhoods, including North Karachi and Surjani Town, experienced power outage at Sehri time on Wednesday due to tripping of a 132-kV transmission line of K-Electric.
Published 07 May, 2020 12:02am

Business & Economy
PBIF chief calls for withdrawal of ST on cottonseed

President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that sales tax should be withdrawn on cottonseed, oil cake, etc. while withholding tax refunds stuck since a decade should be released.
Published 07 May, 2020 12:02am

Money & Banking
Bilour demands opening of all bank branches

The United Business Group leader and a leading businessman of the country, Ilyas Ahmad Bilour, has urged the federal government and the State Bank of Pakistan to issue instructions to open all branches of commercial banks to ease difficulties of business
Published 07 May, 2020 12:02am

Confirmed coronavirus cases reach 485 in capital

The confirmed coronavirus cases here have reached 485, the transmission rate is high as percentage of total estimated population of 1.1 million living in Islamabad.
Published 07 May, 2020 12:02am

Bilawal pays tribute to Shaheed Qamar Abbas

Chairman Pakistan People's Party Bilawal Bhutto Zardari has paid rich tributes to Shaheed Qamar Abbas and said that Shaheed Qamar Abbas was a soldier and brother of Shaheed Mohtarma Benazir Bhutto, said a press release issued on Wednesday.
Published 07 May, 2020 12:02am

PPP leader demands APC to formulate Coronavirus National Action Plan

Pakistan People's Party (PPP) leader and Chairman Senate Standing Committee on Interior Senator Rehman Malik has urged Prime Minister Imran Khan to call an All Parties' Conference (APC) to formulate common Coronavirus National Action Plan to combat the vi
Published 07 May, 2020 12:02am

Rashid tests positive for coronavirus

Special Assistant to the Sindh chief minister Rashid Rabbani has tested positive for the novel coronavirus on Wednesday. Rashid Rabbani has gone into isolation at his residence after he was tested positive for coronavirus. Samples of his family members ha
Published 07 May, 2020 12:02am

Three die as roof of building collapses

Three people of same family lost their lives after a section of the roof of a four story residential building collapsed in Gulistan-e-Johar block-7 area here late Tuesday.
Published 07 May, 2020 12:02am

Sindh, federal governments destroying city's commerce: Kamal

Pak Sarzameen Party Chairman Syed Mustafa Kamal has said that there is a dangerous impression prevailing amongst Karachiites that first the status of the port city was changed, then its citizens were deprived of government jobs, and then key institutions
Published 07 May, 2020 12:02am

Business & Economy
PIA reaches deal with Amadeus acquiring full access to its global travel seller network

Pakistan International Airlines (PIA) has reached an agreement in distribution with Amadeus, giving PIA full access to Amadeus' global travel seller network.
Published 07 May, 2020 12:02am

Poor, jobless people to take to streets if lockdown continues for long: Mayor

Mayor Karachi Wasim Akhtar on Wednesday feared that the poor and jobless people would take to streets if the lockdown continued for long.
Published 07 May, 2020 12:02am

Sanjrani for restoring domestic PIA flights

Senate Chairman Sadiq Sanjrani on Wednesday called upon the government to restore domestic flights of the Pakistan International Airlines (PIA) in order to ensure the attendance of senators in the upcoming session of the Upper House of the Parliament.
Published 07 May, 2020 12:02am

Telecommunication
Cellular phone operators' issues to be resolved: minister

Federal Minister for IT and Telecommunication Syed Aminul Haque has said that the issues of cellular mobile operators will be resolved, said a press release issued on Wednesday. The Federal Minister for IT was talking to CEO Jazz Aamir Ibrahim who called
Published 07 May, 2020 12:02am

Global Business Economy
In Finland, basic income boosts well-being but not jobs

An experiment giving 2,000 unemployed an unconditional, tax-free payment every month created happier citizens but failed to markedly increase employment levels, Finnish researchers said on Wednesday.
Published 07 May, 2020 12:02am

Telecommunication
Samsung heir apologises over corruption scandal

The heir to the Samsung empire bowed in apology Wednesday for company misconduct including a controversial plan for him to ascend to the leadership of the world's largest smartphone maker.
Published 07 May, 2020 12:02am

Global Business Economy
US private payrolls dive by a record 20.2m

US private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
Published 07 May, 2020 12:02am

Global Business Economy
Sri Lanka slashes interest rates

Sri Lanka's central bank cut interest rates by 50 basis points Wednesday in a bid to revive a sluggish economy reeling from the coronavirus pandemic and the 2019 Easter bomb attacks.
Published 07 May, 2020 12:02am

Global Business Economy
India's services sector plunges

India's key services sector plummeted last month, data showed Wednesday, indicating a severe slowdown across Asia's third-largest economy which has been under a lockdown for six weeks to tackle coronavirus.
Published 07 May, 2020 12:02am

Global Business Economy
Uber cuts 3,700 jobs

Uber said Wednesday it was cutting 3,700 jobs amid a huge slump in its ride-hailing operations during the pandemic.
Published 07 May, 2020 12:02am

Britain's construction at record low

Britain's construction sector suffered a record drop in activity during April as the coronavirus pandemic shut sites, data showed Wednesday alongside news of surging food sales at online supermarket Ocado.
Published 07 May, 2020 12:02am

IT & Computers
Facebook reveals members of its 'supreme court' for content

Facebook on Wednesday announced the first members of its independent "supreme court" empowered to make binding decisions about what content should be allowed or removed at the social network and Instagram.
Published 07 May, 2020 12:02am

Quake strikes in Indonesia's Banda Sea, no tsunami alert

A 6.8 magnitude earthquake jolted a remote part of eastern Indonesia late Wednesday, the United States Geological Survey said, but there was no tsunami warning issued and no immediate reports of damage. The undersea quake struck at a depth of some 107 kil
Published 07 May, 2020 12:02am

Pompeo presses China but acknowledges 'no certainty' virus from lab

US Secretary of State Mike Pompeo on Wednesday renewed his widely contested charge that the coronavirus pandemic likely originated in a Chinese laboratory, but acknowledged there was no certainty.
Published 07 May, 2020 12:02am

PACRA maintains IFS rating of UIC

The Pakistan Credit Rating Agency (PACRA) has maintained the IFS rating of the United Insurance Company (UIC).
Published 07 May, 2020 12:02am

NAVTTC, ILO join hands

The National Vocational and Technical Training Commission (NAVTTC) and International Labour Organization (ILO) joined hands to explore mitigating strategy for technical and vocational training during the Covid-19, said a press release issued on Wednesday.
Published 07 May, 2020 12:02am

Cotton & Textile
Budget proposals: PHMA suggests restoration of zero-rating, cut in WHT

Textile value-added sector has proposed to the government to restore zero-rating of sales tax, reduce withholding tax and impose regulatory duty on cotton yarn export to create job opportunities, and boost country's exports.
Published 07 May, 2020 12:02am

Fahad & Hania join Vivo as brand ambassadors

Vivo, the global innovative smartphone brand has announced Fahad Mustafa and Hania Amir as the Brand Ambassadors for the upcoming Vivo V19 in Pakistan.
Published 07 May, 2020 12:02am

Commodities
Concealment of billions detected under garb of agriculture income

Massive concealment of billions of rupees has been detected under the garb of agriculture income where influential individuals have neither declared income nor paid tax to the provincial authorities, said Federal Board of Revenue (FBR) sources.
Published 07 May, 2020 12:02am

Pace of uplift projects was satisfactory before Covid-19: minister

Punjab Finance Minister Hashim Jawan Bakht has said that before Covid-19 pandemic, the pace of development projects was satisfactory, development expenditures and revenue collection was balanced, and huge investment was being made on health, education, in
Published 07 May, 2020 12:02am

Cricket
Women cricketers to learn from Wasim, Babar lectures on field tactics

Pakistan national women's team expressed its delight on being provided an opportunity to interact with the cricket's elite of the past and present generations via video conference calls earlier in the week.
Published 07 May, 2020 12:02am

Business & Economy
Cement dispatches decline by 23.65pc in April

Cement dispatches in the country have declined in April 2020 by 23.65 percent to 3.52 million tons from 4.61 million tons in April 2019 as both exports and domestic markets crashed owing to the devastating impact of COVID-19.
Published 07 May, 2020 12:02am

Telecommunication
Realme to launch mid-range 6 series smartphone

Realme Pakistan recently took the wraps off its premium mid-range 6 series by unveiling its first member realme 6i now its high time for realme fan to get ready for realme 6 and realme 6 Pro launch event next week which is among the most eagerly anticipat
Published 07 May, 2020 12:02am

Haleeb Foods initiates relief against Covid-19

Joining the national efforts to reduce the socio-economic impact of the COVID-19 pandemic threat, Haleeb Foods, a pioneer dairy company of Pakistan has begun its relief-initiative by delivering the first consignment of food-hampers. This contribution was
Published 07 May, 2020 12:02am

Articles
Partly Facetious : It's only joker that is kept aside

"I have figured out why The Khan has taken so many old faces in his cabinet?"
Published 07 May, 2020 12:02am

Commodities
CBOT wheat futures barely positive

Chicago Board of Trade wheat futures settled just barely in positive territory, after waffling between gains and negative territory for much of Tuesday as traders weighed US wheat conditions and spring crop planting, traders said.
Published 07 May, 2020 12:02am

Commodities
PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,753. The traded value of metals, energy and COTS/FX was recorded at PKR 4.924 billion and the number of lots traded was 13,720.
Published 07 May, 2020 12:02am

Commodities
European wheat futures rise from six-week low

European wheat futures in Paris rose on Tuesday, as uncertainty over crop conditions in the Black Sea region, a weaker euro and firmness in Chicago generated a recovery from a six-week low hit on Monday.
Published 07 May, 2020 12:02am

Business & Economy
Activities of Karachi Port and Port Qasim

The Karachi Port handled 99,145 tonnes of cargo comprising 66,458 tonnes of import cargo and 32,687 tonnes of export cargo including 6,280 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 07 May, 2020 12:02am

Cotton & Textile
Traders reject proposal of buying cotton through TCP

Cotton Traders has termed the decision of Economic Coordination Committee of rejecting the proposal of buying of cotton at Rs 4200 per maund through Trading Corporation of Pakistan as win of investors and defeat of farmers.
Published 07 May, 2020 12:02am

Commodities
Canadian canola futures higher

ICE Canadian canola futures edged higher on Tuesday, lifted by stronger soyabean and soyaoil prices.
Published 07 May, 2020 12:02am

Commodities
CBOT soyabean futures rise with strong energy markets

Chicago soyabean futures climbed on Tuesday alongside strong energy markets and news of export sales to China, although gains were limited by active US planting and concerns about demand for livestock feed amid the coronavirus pandemic.
Published 07 May, 2020 12:02am

Stocks
Major Gulf indexes fall

Major stock markets in the Gulf ended lower on Wednesday as doubts about the easing of coronavirus lockdowns and simmering US-China tensions cast a shadow over global equity markets.
Published 07 May, 2020 12:02am

Stocks
Australian shares down, NZ up

Australian shares ended lower in thin trade on Wednesday as investors took profits after two sessions of sharp gains, with banking stocks dominating the losses.
Published 07 May, 2020 12:02am

Stocks
China shares surge

China shares settled higher on Wednesday as trading resumed after a week-long holiday, with investors awaiting follow-up supportive policies ahead of the annual parliament meeting to counter the economic fallout from the coronavirus outbreak.
Published 07 May, 2020 12:02am

Stocks
European shares down

European shares ended slightly lower on Wednesday as a chilling GDP forecast undercut optimism about a swift economic recovery, even as several countries began easing coronavirus-related curbs.
Published 07 May, 2020 12:02am

Stocks
Wednesday's early trade: S&P, Nasdaq up

The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in US private payrolls last month.
Published 07 May, 2020 12:02am

Stocks
Wall Street rises

Wall Street's main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and US states eased coronavirus-induced restrictions in an attempt to revive their economies.
Published 07 May, 2020 12:02am

Stocks
Most SE Asian stocks end lower

Most Southeast Asian stocks fell in low-volume trade on Wednesday as poor economic data capped risk sentiment, but Vietnam jumped more than 2% to its best session in more than a month.
Published 07 May, 2020 12:02am

Stocks
FTSE 100 gains

A jump in healthcare stocks lifted London's FTSE 100 on Wednesday, with investors remaining cautious about escalating US-China tensions and growing evidence of the economic damage from the COVID-19 pandemic.
Published 07 May, 2020 12:02am

Money & Banking
Yuan leads as Asian currencies slip

Asian currencies weakened on Wednesday, with the Chinese yuan leading losses as the currency resumed trade after a long market holiday that saw a further spike in Sino-US tensions over the origin of the coronavirus pandemic.
Published 07 May, 2020 12:02am

Money & Banking
Sterling hits 12-day low against dollar

The pound fell to a 12-day low against the dollar on Wednesday, ahead of a Bank of England meeting on Thursday where monetary policymakers will try to quantify the impact of the coronavirus on the world's fifth largest economy.
Published 07 May, 2020 12:02am

Money & Banking
Early trade in New York: Dollar, yen outperform

The safe-haven yen and dollar rose on Wednesday, as investors sought refuge in these currencies in the wake of dire global economic numbers.
Published 07 May, 2020 12:02am

Money & Banking
Euro keeps falling in Europe

The euro resumed its decline on Wednesday and the Japanese yen reached a seven-week high against the US dollar after a court decision challenged German participation in the euro zone's stimulus programme.
Published 07 May, 2020 12:02am

PML-Q leaders move LHC against inquiries initiated by NAB

The PML-Q leaders, Chaudhry Shujaat Hussain and Punjab Assembly Speaker Chaudhry Pervez Elahi, on Wednesday challenged before the Lahore High Court (LHC) 20-year-old inquiries initiated by the National Accountability Bureau (NAB) against them.
Published 07 May, 2020 12:02am

Business & Economy
APBF hails debt relief from lenders to provide fiscal space

Appreciating the debt relief measures taken by the G20 countries, IMF and the World Bank for the developing countries including Pakistan, the All Pakistan Business Forum (APBF) has a urged the government to pass on this relief to the small industries, whi
Published 07 May, 2020 12:02am

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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