News Archives for Print - 2020-05-12

Print - 2020-05-12

Economic challenges: PM, team discuss situation

Prime Minister Imran Khan held a meeting with his economic team and discussed matters pertaining to current financial situation in the country.

Published 12 May, 2020 12:06am

July-April remittances post nominal growth YoY

Home remittances sent by overseas Pakistanis posted a growth of 5.5 percent during the first 10 months of this fiscal year (FY20).

Published 12 May, 2020 12:06am

Diamer-Bhasha & Dasu dams: PM asks Wapda to start construction activities at once

Prime Minister Imran Khan has directed the Water and Power Development Authority (Wapda) to immediately start construction activities of the Diamer-Bhasha and Dasu dams as water security was the foremost priority of the present government.

Published 12 May, 2020 12:06am

MPS on 15th: Further cut in key policy rate being anticipated

The State Bank of Pakistan (SBP) will issue its monetary policy statement on Friday with expectation of further cut in the key policy rate.

Published 12 May, 2020 12:06am

Oil hedging: ECC may decide on call options tomorrow

The Economic Coordination Committee (ECC) of the Cabinet may be presented with a proposal of oil hedging on Wednesday and decide to empower the committee led by Secretary Finance to finalize one of the two proposed call options.

Published 12 May, 2020 12:06am

Commission should summon me: Umar

Federal Minister for Planning and Development Asad Umar has said that inquiry commission investigating sugar crisis should summon him instead of Prime Minister Imran Khan.

Published 12 May, 2020 12:06am

Pakistan Essential Services (Maintenance) Act, 1952: Cabinet to approve extension in application for six months

The Federal Cabinet, which is scheduled to meet on Tuesday (today), will approve extension in application of Pakistan Essential Services (Maintenance) Act, 1952 to all classes of employment under National Institutional Facilitation Technologies (NIFT) Pvt

Published 12 May, 2020 12:06am

Stocks

PSX turns volatile: BRIndex100 little changed

Pakistan Stock Exchange Monday witnessed a mixed trend as the investors remained cautious due to their concerns over rising number of coronavirus patients in the country.

Published 12 May, 2020 12:06am

2018 elections: ECP shows displeasure over RTS failure

The Election Commission of Pakistan (ECP) is reluctant to pay outstanding dues to NADRA (National Database and Registration Authority) for technical assistance the Authority extends to Commission for the maintenance of voters lists, and, has instead defer

Published 12 May, 2020 12:06am

S Arabia deepens oil cuts as weak demand weighs on prices

Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.

Published 12 May, 2020 12:06am

Covid-19 cases surge to 31,684

The Covid-19 confirmed cases in Pakistan have jumped to 31,684, while the corona-related deaths have also reached 691, according to the data released by the National Command and Operations Centre (NCOC) here on Monday.

Published 12 May, 2020 12:06am

Markets reopen: SOPs not being observed: Murad

Sindh Chief Minister Syed Murad Ali Shah Monday said that 11 more patients died during last 24 hours taking the toll to 200 while 537 new corona cases have been detected.

Published 12 May, 2020 12:06am

Qureshi explains govt's approach to Covid-19

Foreign Minister Shah Mahmood Qureshi on Monday informed the National Assembly that the country has the highest coronavirus testing capacity of 20,000 tests per day to date among all South Asian countries.

Published 12 May, 2020 12:06am

Money & Banking

THE RUPEE: Gains value on interbank

According to dealers, Pakistan rupee gained value in interbank market while showing no change in open market against USD. Against Euro, AED and SR however, Pakistan rupee lost value in open market.

Published 12 May, 2020 12:06am

19 dead as Iran warship hit by 'friendly fire' in tense Gulf

An Iranian warship was hit by a "friendly fire" missile during naval exercises, killing 19 sailors, state media and the army said Monday, amid tensions with the US in Gulf waters.

Published 12 May, 2020 12:06am

Salary refinance scheme: SBP enhances limit up to Rs 1 billion

In order to facilitate the industry to prevent layoff of employees under current Covid-19 Pandemic, the State Bank of Pakistan (SBP) has enhanced the maximum financing limit by 100 percent to Rs 1 billion under the Refinance Scheme to Support Employment a

Published 12 May, 2020 12:06am

Ministry allowed to create 1,257 new posts in FIA

The government has granted approval to the Ministry of Interior to create 1,257 new posts in the Federal Investigation Agency (FIA) on various cadres (officers/staff BPS-01 to 21).

Published 12 May, 2020 12:06am

Oil refineries seek interim relief package

The country's refineries have sought urgent interim relief package to avert financial collapse as their inventory loss in March and April 2020 recorded over Rs 31 billion and is expected to further worsen in May and June.

Published 12 May, 2020 12:06am

U, V, W or L? The alphabet soup of economic recovery scenarios

What will the economic recovery from the coronavirus crisis look like in different countries? Economists have taken to using letters to describe the shape of potential recoveries ... or stagnation.

Published 12 May, 2020 12:06am

Armed forces seek 20 percent increase in salaries

Armed forces have sought 20 per cent increase in salaries for the financial year 2020-2021 that will cost Rs63.67 billion.

Published 12 May, 2020 12:06am

Supplies to unregistered persons: Reduction in rate of further ST under study

The government is planning to reduce the rate of further sales tax from existing three percent to two or one percent on supplies made to unregistered persons in the coming budget (2010-2021).

Published 12 May, 2020 12:06am

Minister links action on PSMA proposals to probe by commission

Minister for Industries and Production, Hammad Azhar has reportedly linked action on proposals of Pakistan Sugar Mills Association (PSMA) to the outcome of Sugar Inquiry Commission, well-informed sources told Business Recorder.

Published 12 May, 2020 12:06am

Gerber, who steered Roche from infamy to biotech success, dies at 91

Fritz Gerber, the long-time head of Roche Holding who helped transform the Swiss company from an image-tarnished vitamins, drugs and chemicals conglomerate into a biotechnology and diagnostics giant, has died at the age of 91.

Published 12 May, 2020 12:06am

PIA brings back 179 stranded passengers from US

Pakistan International Airline (PIA) through its first relief flight brought 179 stranded passengers in Pakistan from the US.

Published 12 May, 2020 12:06am

Letters

PM for treating corona patients with compassion

It is important to note that prime minister Imran Khan has underscored the need for treating coronavirus patients with compassion, respect and dignity. He had to make these remarks because there were reports of alleged mistreatment of coronavirus patients

Published 12 May, 2020 12:06am

Articles

Covid-19: Impact on oil sector

Recent key developments in Pakistan's oil sector underscore that there is always a need for the country to maintain its strategic oil reserves.

Published 12 May, 2020 12:06am

Articles

Soviet role in WWII

Rising coronavirus infections forced Russia on May 9, 2020 to curtail its celebrations marking the 75th anniversary of the victory over Nazi Germany. Russia usually holds grand military parades to commemorate the event. This year's 75th anniversary was pl

Published 12 May, 2020 12:06am

Articles

Emerging trends

The key macroeconomic variables of the national economy are beginning to show sharply divergent trends from those observed earlier since June 2019. This includes developments in the real economy, monetary sector, inflation, public finances and the balance

Published 12 May, 2020 12:06am

Xenophobic hate tsunami

In the midst of the myriad tragedies unfolding the world over because of the Covid-19 pandemic, UN Secretary-General Antonio Guterres has made a heart-rending appeal (without naming specific countries) for all-out efforts to end the tsunami of hate, xenop

Updated 12 May, 2020 12:41am

Budget framework 2020-21

Prime Minister Imran Khan reportedly deferred a decision on the budget framework for 2020-21 presented by the Ministry of Finance because no consensus could be developed with other ministries. Credible reports indicate that the proposed target for the Fed

Updated 12 May, 2020 12:43am

Faraz launches 'Masks for All' campaign

Minister for Information and Broadcasting Senator Shibli Faraz on Monday officially launched "Masks for All" campaign as part of the government's measures to contain the Covid-19.

Published 12 May, 2020 12:06am

Ehsaas Programme: Rs 91.611 billion distributed among 7.512 million families in one month

As many as Rs 91.611 billion have been distributed to 7.512 million families in one month under Ehsaas Emergency Cash Programme with Rs 1.961 billion distributed among 163,419 families in the ongoing third and final phase of the programme.

Published 12 May, 2020 12:06am

Energy

Clarification

A spokesperson for Power Division in a statement said that Federal Minister for Power and Petroleum, Omar Ayub Khan or his dependents do not have any shareholding or economic interest in any Independent Power Plant (IPP).

Published 12 May, 2020 12:06am

Business & Economy

Masroor Mahmud appointed as GE's CEO for Pakistan

GE has announced the appointment of Masroor Mahmud as its CEO for Pakistan. He is mandated with driving the company's growth in the country and aligning business strategy across all GE sectors with the government's vision for development.

Published 12 May, 2020 12:06am

Rights of minorities: Interfaith harmony, protection top priority: FM

Foreign Minister Shah Mahmood Qureshi has said that interfaith harmony and protection of rights of the minorities is top priority of the incumbent government.

Published 12 May, 2020 12:06am

'Government plans to bring back around 12,000 stranded Pakistanis'

Special Assistant to the Prime Minister on National Security Dr Moeed Yusuf on Monday said the federal government had planned to bring back around 12,000 stranded Pakistanis back home from 22 foreign countries in the next 10 days.

Published 12 May, 2020 12:06am

Comprehensive policy on exams to be finalized by Friday: Shafqat

The meeting of all educational boards regarding examinations remained inconclusive on Monday, and decided to finalize a comprehensive policy by Friday. A meeting of all educational boards held through video link was chaired by Federal Minister for Educati

Published 12 May, 2020 12:06am

Business & Economy

Envoys, Hafeez discuss debt rescheduling by G-20 countries

French and German ambassadors on Monday met with Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh, and discussed with the adviser, the details of the debt rescheduling offered by G-20 countries, and the need for any further loans.

Published 12 May, 2020 12:06am

TV channel: Pemra asked not to take coercive steps for two weeks

The Supreme Court on Monday directed the Pakistan Electronic Media Regulatory Authority (PEMRA) not to take coercive measures against Neo TV for two weeks.

Published 12 May, 2020 12:06am

Business & Economy

Budget proposals to be given due consideration by TPB: Dawood

Advisor to the Prime Minister on Commerce Abdul Razak Dawood said the budget proposals, forwarded by different stakeholders, would be given due consideration by the Tariff Policy Board (TPB) so that economy of Pakistan could be revitalized at this difficu

Published 12 May, 2020 12:06am

Energy

Petroleum products: Import by PSO delayed by couple of days

The import of petroleum products by Pakistan State Oil (PSO) is delayed by couple of days as vessels in international market are unavailable due to COVID-19. However, Petroleum Division stated that sufficient stocks of oil are available with PSO.

Published 12 May, 2020 12:06am

Punjab Assembly passes two bills

Taking advantage of the session convened on the requisition of the opposition Punjab government on Monday successfully passed The Code of Criminal Procedure (Punjab Amendment Bill) 2020 and The Punjab Village Panchayats and Neighbourhood Councils (Amendme

Published 12 May, 2020 12:06am

Taxes

Zero-rated units: FBR to request DISCOs to continue concessionary tariff

The Federal Board of Revenue (FBR) will request power distribution companies to grant extension up to June 30, 2020 to zero-rated units of five export sectors for continuation of benefit of concessionary power tariff to the companies of erstwhile zero-rat

Published 12 May, 2020 12:06am

ISPA issue to be taken up with minister for power: PTI lawmaker

Pakistan Tehreek Insaf MPA, Haleem Adil Sheikh has said that Prime Minister Imran Khan is well aware of issues and problems being faced by industrialists of Karachi, especially in the present economic scenario and eager to resolve them.

Published 12 May, 2020 12:06am

New LG system different from old systems: minister

Punjab Law, Parliamentary Affairs and Social Welfare Minister Raja Basharat has said that the new system of local government is different from all the old systems which will help in solving problems at the grassroots level.

Published 12 May, 2020 12:06am

Technical deficiencies of PRAL affecting FBR's IT systems

The Pakistan Revenue Automation Ltd (PRAL) has many technical deficiencies hindering its progress on development of effective IT systems for the Federal Board of Revenue (FBR), said the Board sources.

Published 12 May, 2020 12:06am

Young most affected by coronavirus in capital

The most affected age group of deadly coronavirus in the federal capital are young as 160 people between ages of 30 and 39 have so far been tested positive for the Covid-19 in the city.

Published 12 May, 2020 12:06am

Articles

Consumers taken for a ride?

In January 2020, The Competition Commission of Pakistan ("the Commission") approved the acquisition of Careem by Uber, transforming the duopolistic market of application-based ridesharing services into a monopolistic market. The Commission was established

Published 12 May, 2020 12:06am

Brief Recordings

Wyeth Pakistan Limited

Wyeth Pakistan Limited (PSX: WYETH) was established in 1949 as a public limited company. The ultimate parent company is Pfizer Corporation. Wyeth LLC, USA and Wyeth Holdings Corporation LLC, USA are the principal shareholders of Wyeth Pakistan, while the

Updated 12 May, 2020 04:49am

Money & Banking

China new bank loans fall less than expected

New bank lending in China fell less than expected in April from the previous month while growth of broad money supply quickened, as the central bank ramped up policy support for the coronavirus-ravaged economy.

Published 12 May, 2020 12:06am

Global Business Economy

Argentina extends debt deadline

Argentina on Monday extended debt restructuring talks with international creditors by a further two weeks to May 22, the deadline for a $500 million bond repayment.

Published 12 May, 2020 12:06am

Money & Banking

Commerzbank ditches plans to sell Polish subsidiary

Germany's second-largest lender Commerzbank on Monday abandoned plans to sell off its lucrative Polish subsidiary mBank, blaming unfavourable conditions caused by the coronavirus.

Published 12 May, 2020 12:06am

Global Business Economy

Italy industrial output tumbles

Italy's industrial production tumbled nearly 30 percent in March as the country shuttered many businesses to contain the spread of the new coronavirus, the nation's statistics agency said Monday.

Published 12 May, 2020 12:06am

Money & Banking

Germany plans massive cash injection for Deutsche Bahn

The German government is planning a multi-billion-euro rescue package for national rail company Deutsche Bahn to help offset the effects of the coronavirus, according to a document seen by AFP on Monday.

Published 12 May, 2020 12:06am

Global Business Economy

Colombian airline Avianca files for Chapter 11 bankruptcy

Avianca, the second-largest airline in Latin America, filed for bankruptcy protection in the United States on Sunday to reorganize its debt "due to the unpredictable impact" of the coronavirus pandemic.

Published 12 May, 2020 12:06am

Money & Banking

Japan appoints first female central bank executive director

Japan's central bank saw some sweeping changes in a personnel reshuffle on Monday, including the appointment of its first female executive director in the male-dominated institution.

Published 12 May, 2020 12:06am

Money & Banking

IMF approves $2.77bn emergency virus loan for Egypt

The IMF board approved $2.77 billion in emergency aid for Egypt on Monday, to help the country deal with the impact of the coronavirus pandemic.

Published 12 May, 2020 12:06am

Actor and comedian Jerry Stiller dies

Veteran actor and comedian Jerry Stiller, who found fame on Broadway and later in the smash US show "Seinfeld" has died from natural causes aged 92, his son Ben Stiller said Monday.

Published 12 May, 2020 12:06am

Nepal summons India envoy as road protests rage

Nepal's foreign minister summoned India's ambassador on Monday over a new road being built through disputed territory as police arrested protesters who burnt effigies of the leaders of both countries.

Published 12 May, 2020 12:06am

Canada ties coronavirus help to climate goals

Canada announced a plan Monday to help its largest companies hit hard by the coronavirus pandemic - but tied loans and financial aid to its climate goals.

Published 12 May, 2020 12:06am

Shanghai Disneyland reopens

Shanghai Disneyland reopened on Monday following a more than three-month coronavirus shutdown as China moves nearer to normality and Walt Disney Co. seeks to plug the flow of red ink caused by the pandemic.

Published 12 May, 2020 12:06am

Europe emerges from confinement, but Asia infections spike

Swathes of Europe began the long process of reopening from coronavirus lockdowns on Monday, but a resurgence of infections in China and South Korea offered a sobering reminder of the dangers of a second wave of cases.

Published 12 May, 2020 12:06am

Mild quake shakes Rome

A mild earthquake shook Rome early Monday but there were no immediate reports of damage, emergency services said. Firefighters said they had received numerous inquiries from people after the tremor struck shortly after 5:00 am (0300 GMT), estimated at 3.3

Published 12 May, 2020 12:06am

Nine die in care home fire outside Moscow

A fire broke out in a retirement home in the Moscow region, killing at least nine people, local authorities said Monday.

Published 12 May, 2020 12:06am

Virus-ravaged UK aviation sector faces quarantine woe

Britain's aviation sector grappled Monday with news that international arrivals will soon face a 14-day quarantine to stop new infections of coronavirus, which has already ravaged travel demand worldwide.

Published 12 May, 2020 12:06am

US says Chinese hacking vaccine research

The US Federal Bureau of Investigation and cybersecurity experts believe Chinese hackers are trying to steal research on developing a vaccine against coronavirus, two newspapers reported Monday.

Published 12 May, 2020 12:06am

Stocks

Saudi shares retreat after government triples VAT rate

Saudi Arabia's stock market ended lower on Monday after the kingdom said it will triple value-added tax (VAT) and suspend a cost of living allowance for state workers as it seeks to shore up its finances.

Published 12 May, 2020 12:06am

Stocks

Australian, New Zealand shares rise

Broad-based gains pushed Australian shares higher on Monday, as plans to gradually reopen the country's most populous state after a weeks-long coronavirus lockdown boosted hopes of a pick up in economic activity.

Published 12 May, 2020 12:06am

Stocks

China stocks down

China stocks shed early gains to end a tick lower on Monday, amid renewed concerns over the coronavirus outbreak as Wuhan reported its first cluster of infections since the lockdown was lifted a month ago.

Published 12 May, 2020 12:06am

Stocks

European shares lower

European stocks gave up early gains on Monday, with travel and oil stocks taking a hit even as several countries emerged from coronavirus-driven lockdowns.

Published 12 May, 2020 12:06am

Stocks

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

The S&P 500 and Dow Jones Industrials gave back some of last week's gains on Monday, as investors worried about the possibility of a second wave of coronavirus infections with the reopening of several economies.

Published 12 May, 2020 12:06am

Stocks

Tokyo shares climb

Japanese stocks closed at a two-month high on Monday as more countries prepare to reopen businesses from coronavirus-induced lockdown and on positive cues from Wall Street.

Published 12 May, 2020 12:06am

Stocks

SE Asian stocks up

Southeast Asian stock markets closed higher on Monday, with Vietnam leading gains, as several countries looked to restart their economies and largest regional trading partner China signaled more policy measures to support a virus-hit economy.

Published 12 May, 2020 12:06am

Stocks

London stocks gain

London's FTSE 100 rose for a fourth straight session on Monday, as investors pinned their hopes on a revival in business activity with Prime Minister Boris Johnson outlining plans to gradually ease some coronavirus-induced lockdown measures.

Published 12 May, 2020 12:06am

Money & Banking

Sterling dips against dollar

Sterling dipped against the dollar on Monday as rising US Treasury yields put the US currency in demand, with investors cautious about the easing of coronavirus lockdown measures in Britain.

Published 12 May, 2020 12:06am

Money & Banking

Early trade in New York: dollar rises against yen, euro

The dollar rose on Monday against the Japanese yen and the euro as investors worried that economic recovery might be slower than hoped and sought the safety of the US currency.

Published 12 May, 2020 12:06am

Money & Banking

Dollar rises, yen falls in Europe

The dollar rose on Monday as investors worried that economic recovery might be slower than hoped and sought the safety of the US currency even though more countries eased coronavirus lockdowns.

Published 12 May, 2020 12:06am

Money & Banking

Most emerging Asian currencies move higher

Most emerging Asian currencies firmed on Monday, with the Taiwan dollar leading the pack, as more countries moved towards easing coronavirus-related restrictions even though the threat of a new wave of infections loomed.

Published 12 May, 2020 12:06am

Business & Economy

REAP, LCCI congratulate Chela Ram Kewlani

Rice Exporters Association of Pakistan (REAP) and the Lahore Chamber of Commerce & Industry (LCCI) has congratulated Chela Ram Kewlani, a leading rice exporter and businessman of Pakistan, on his appointment as Chairman Minorities Commission of Pakistan.

Published 12 May, 2020 12:06am

Kharif season: Paddy to be sown over 4.618 million acres in Punjab

More than 4.618 million acres of land would be brought under paddy crop during Kharif season in various rice growing areas of the Punjab.

Published 12 May, 2020 12:06am

Business & Economy

PCDA urges PM to continue imports of finished products from India

Pakistan Chemists and Druggist Association (PCDA) has requested to the Prime Minister not to discontinue the imports of finished products from India as millions of local patients heavily rely on them.

Published 12 May, 2020 12:06am

Business & Economy

LCCI installs modern disinfection system

The Lahore Chamber of Commerce & Industry (LCCI) has become the first Chamber of the country which has installed a state-of-the-art disinfection system to overcome coronavirus spread.

Published 12 May, 2020 12:06am

Commodities

33,000 tons of wheat recovered during raids: minister

The Punjab Food Department has so far recovered 33,130 tons of stored wheat by raiding 436 storage places in different districts of the province.

Published 12 May, 2020 12:06am

Business & Economy

Business activities resumes in major markets in Lahore

Business activities resumed on Monday in Lahore after one and a half months closure due to the coronavirus outbreak.

Published 12 May, 2020 12:06am

Buzdar receives Chinese donation of PPEs

Punjab Chief Minister Sardar Usman Buzdar received the special PIA flight carrying personal protection equipment (PPEs) worth Rs100 million at Lahore Airport here on Monday.

Published 12 May, 2020 12:06am

Taxes

Grievances Redressal Committee reconstituted by FBR

To ensure transparency in addressing any concerns of bidders, the Federal Board of Revenue (FBR) has re-constituted Grievances Redressal Committee to redress the complaints of bidders pertaining to procurements/contracts being executed in the FBR (HQ).

Published 12 May, 2020 12:06am

Business & Economy

Drugs raw material: PPMA warns government against any ban on import from India

The Pakistan Pharmaceutical Manufacturers' Association (PPMA) has warned the federal government that any decision to discontinue import of raw material of medicines from India will weaken the country's ability to fight the Covid-19.

Published 12 May, 2020 12:06am

SHC seeks details about SOPs devised to open markets

The Sindh High Court (SHC) on Monday sought the new policy from the provincial government vis-a-vis easing of the lockdown in the province.

Published 12 May, 2020 12:06am

More rain likely till 13th: Met

The Met Office on Monday forecast more rains for most parts of the country with isolated windstorm and hailstorm from Tuesday through May 13.

Published 12 May, 2020 12:06am

Easing lockdown depends on SOPs implementation: minister

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest and Wildlife Syed Nasir Hussain Shah has said that the agreement reached between Sindh government and traders on easing business hours was welcoming.

Published 12 May, 2020 12:06am

Budget FY2020-21: Mayor directs increase in development allocation

Mayor Karachi Wasim Akhtar Monday directed finance department to enhance allocation of amount for development and decrease amount for non development expenditures in the next fiscal budget.

Published 12 May, 2020 12:06am

Business & Economy

FPCCI urges adviser to secure waiver from demurrage, container detention charges

President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar, in a video link meeting with the Adviser to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, urged him to use his good offices to secure a waiver

Published 12 May, 2020 12:06am

Covid-19 lockdown dampens business optimism in Pakistan: D&B

The business optimism in Pakistan was on the decline during Q1 2020 compared with Q4 2019 even before the government had executed the lockdown restrictions to shutter the economy in an attempt to halt the spread of the Covid-19 pandemic.

Published 12 May, 2020 12:06am

Articles

Partly Facetious : Difference between micro and macro

"There is a major, major difference between macro and micro. Anyone with experience of the one cannot be assumed to be good at the other."

Published 12 May, 2020 12:06am

Commodities

Russian wheat export prices stable

Russian wheat export prices for the old crop were stable this week in quiet trade due to the long May holiday, limited export demand and thanks to rains which arrived to Russia's south after dry weather, the SovEcon agriculture consultancy said.

Published 12 May, 2020 12:06am

Commodities

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,762. The traded value of metals, energy and COTS/FX was recorded at PKR 4.916 billion and the number of lots traded was 11,492.

Published 12 May, 2020 12:06am

Commodities

China's gold demand picks up, lacklustre in other Asian hubs

Physical gold demand improved in top hub China this week as buyers took advantage of hefty discounts, while activity remained muted in other hubs due to lockdowns and holidays.

Published 12 May, 2020 12:06am

Energy

Asia's naphtha crack gains

Asia's naphtha crack rose to a four-session high of $28.25 a tonne on Friday, supported by weaker feedstock oil prices. South Korea's Lotte Chemical and Hanwha Total were out to buy naphtha for second-half June delivery, but the exact price details were u

Published 12 May, 2020 12:06am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 67,508 tonnes of cargo comprising 48,055 tonnes of import cargo and 19,453 tonnes of export cargo including 3,082 loaded and empty containers during the last 24 hours ending at 0700 hours on Monday.

Published 12 May, 2020 12:06am

Cotton & Textile

Trading activities resume on cotton market

Trading activities resume on the cotton market on Monday after the closure of more than one and a half months due to the coronavirus lockdown.

Published 12 May, 2020 12:06am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 21	278.03
USD PKR Interbank Buying / Nov 21	277.78
USD to Japanese Yen / Nov 21	154.92
USD to Swiss Franc / Nov 21	0.88
Pound Sterling to USD / Nov 21	1.26
Euro to USD / Nov 21	1.05

Stock	Volume
S&P 500 / Nov 20	5,917.11
Nasdaq / Nov 20	18,966.14
Dow Jones / Nov 20	43,408.47
India Sensex / Nov 21	77,137.20
Tokyo Nikkei / Nov 21	38,026.17
Hang Seng / Nov 21	19,620.49
FTSE 100 / Nov 21	8,069.57
Germany DAX 30 / Nov 21	18,942.65

Item	Value
Petrol/Litre / Nov 21	248.38
Crude Oil USD/Barrel / Nov 21	69.38
Karachi Cotton PKR/37.32 KG / Nov 21	17,785
Gold 10 Grams PKR / Nov 21	238,340
Gold Spot USD/Ounce / Nov 21	2,662.71
Diesel/Litre / Nov 21	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▼ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▼ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▼ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▲ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▲ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▲ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 21 K-Electric Limited(KEL)	174,389,145 ▲ 0.00
Hascol Petrol / Nov 21 Hascol Petroleum Limited(HASCOL)	63,973,243 ▲ 0.00
Kohinoor Spining / Nov 21 Kohinoor Spinning Mills Limited(KOSM)	62,996,737 ▲ 0.00
Aisha Steel Mill / Nov 21 Aisha Steel Mills Limited(ASL)	48,137,561 ▲ 0.00
Waves Home Appliances / Nov 21 Waves Home Appliances Limited(WAVESAPP)	43,506,391 ▲ 0.00
Lotte Chemical / Nov 21 Lotte Chemical Pakistan Limited(LOTCHEM)	40,852,960 ▲ 0.00
Telecard Limited / Nov 21 Telecard Limited(TELE)	36,937,252 ▲ 0.00
Cnergyico PK / Nov 21 Cnergyico PK Limited(CNERGY)	31,401,025 ▲ 0.00
WorldCall Telecom / Nov 21 Worldcall Telecom Limited(WTL)	31,346,592 ▲ 0.00

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