News Archives for Print - 2020-05-14

Print - 2020-05-14

Stocks

Countering-terror financing risks: Brokers, insurers and NBFCs told to set transaction limits

The Securities and Exchange Commission of Pakistan (SECP) has allowed securities brokers, commodities brokers, insurers, Takaful operators, Non-Banking Finance Companies (NBFCs) and Modarabas (regulated persons) to set transaction limitations (ie, limited

Published 14 May, 2020 12:04am

Business & Economy

MSCI announces outcome of semi-annual review

The Morgan Stanley Capital International (MSCI) has announced outcome of its Semi Annual Review (SAIR), whereby Pakistan now has a weight of 0.026 percent. Additionally, Pakistan's weight in the small cap index has been revised to 0.734 percent.

Published 14 May, 2020 12:04am

MoF agrees to convert over Rs800bn PHPL debt into public debt

Ministry of Finance has reportedly agreed to convert PHPL debt of over Rs 800 billion into public debt with bi-annual review of power sector performance as per an agreement with the World Bank, well-informed sources in Finance Division told Business Re

Published 14 May, 2020 12:04am

Agriculture package approved by ECC

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a package of Rs50 billion for agriculture sector but deferred the Ministry of Petroleum's proposal on oil hedging without having any discussion.
Published 14 May, 2020 12:04am

AQ Khan brought to SC

Attorney General for Pakistan on Wednesday assured the apex court that Dr AQ Khan's meeting with his counsel will be arranged at his residence for half an hour.
Published 14 May, 2020 12:04am

COAS says Balochistan 'future of Pakistan'

Chief of Army Staff (COAS) General Qamar Javed Bajwa visited Quetta on Wednesday and interacted with personnel busy in the Covid-19 relief activities, the Inter-Services Public Relations (ISPR) said.
Published 14 May, 2020 12:04am

21MW Tangir Hydropower Project: Wapda, JV of Power China-FWO ink agreement

Water and Power Development Authority (Wapda) and a joint venture of Power China-FWO on Wedn-esday inked agreement worth Rs 442 billion for construction of diversion system, main dam, access bridge and 21MW Tangir Hydropower Project.
Published 14 May, 2020 12:04am

Stocks
Bulls rule PSX: BRIndex100 up modestly

Pakistan Stock Exchange Wednesday witnessed a positive trend on the back of local investors and institutional support.
Published 14 May, 2020 12:04am

LNG scam: NAB summons Abbasi, son

The National Accountability Bureau (NAB) has summoned former prime minister and the Pakistan Muslim League-Nawaz (PML-N) Vice President Shahid Khaqan Abbasi and his son to appear before it on Friday (today) in the Liquefied Natural Gas (LNG) scam.
Published 14 May, 2020 12:04am

FIA told its request doesn't comply with law

Sindh Gover-nment has conveyed to Federal Investigation Agency (FIA) that appearance of Chief Minister Syed Murad Ali Shah before Inquiry Commission to probe increase in sugar prices does not comply with the relevant section of the Pakistan Commission of
Published 14 May, 2020 12:04am

Buzdar tells sugar probe team why he allowed subsidy

Punjab Chief Minister Usman Buzdar Wednesday appeared before the Sugar Inquiry Commission and recorded his statement regarding subsidy of Rs3 billion given to the sugar mills on sugar export in 2019.
Published 14 May, 2020 12:04am

Money & Banking
THE RUPEE: Weak mode

Pakistani Rupee weakened on Wednesday against USD, Euro, UAE Dirham and Saudi Riyal in both interbank and open markets according to the dealers.
Published 14 May, 2020 12:04am

Some major markets sealed for violating Covid-19 SOPs

As Covid-19 prevention restrictions have been eased by the government, the Karachiites are seen flooded at the city's all major markets and shopping centers for Eid shopping without following the provincial government's SOPs that prompted the authorities
Published 14 May, 2020 12:04am

Death toll in Afghan attacks rises to 56

The combined death toll from two attacks in Afghanistan, including one on a hospital in which infants and nurses were killed, has risen to 56, health officials said Wednesday.
Published 14 May, 2020 12:04am

Taxes
Federal budget (2020-2021): FBR briefs Hafeez about taxation proposals

The Federal Board of Revenue (FBR) Wednesday night briefed Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue, on taxation proposals and relief measures for the next federal budget (2020-2021).
Published 14 May, 2020 12:04am

Clashes in IOK after Indian troops kill civilian

Hundreds of angry demonstrators clashed with government forces Wednesday in Indian-occupied Kashmir after soldiers martyred a young man at a checkpoint, officials and locals said.
Published 14 May, 2020 12:04am

Shazad Dada appointed UBL CEO

In a latest corporate development, a seasoned banker and capital market professional, Shazad Dada has been appointed as the President and Chief Executive Officer (CEO) of United Bank Limited (UBL) with effect from July 1, 2020 for a period of three years.
Published 14 May, 2020 12:04am

Facebook to pay $52m settlement for trauma to content reviewers

Facebook has agreed to a $52 million court settlement to compensate content moderators who suffered mental trauma from the graphic and violent images they were required to review, plaintiff lawyers said Tuesday.
Published 14 May, 2020 12:04am

Can adviser to PM head NFC?

The appointment of Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh to head the 10th National Finance Commission (NFC) is unconstitutional.
Published 14 May, 2020 12:04am

Covid-19: People openly violating SOPs after easing of lockdown

The Citizens of Faisalabad are flagrantly violating the "Standard Operating Procedure" (SOP) implemented by the government for 'Easing the Lockdown' imposed in the country in wake of coronavirus pandemic.
Published 14 May, 2020 12:04am

Threat of locust swarms: Hafeez seeks UK support

Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh has sought technical support from the UK government's Department for International Development (DFID) to combat the threat of swarm locust to standing crops and vegetation in Pakistan.
Published 14 May, 2020 12:04am

'Unity in diversity' basic theme of 18th Amendment: Pasha

'Unity in diversity' is the fundamental theme of the 18th Amendment, which means that the federating units should be given those responsibilities which they are able to perform, said renowned economist and former finance minister Dr Hafiz A Pasha.
Published 14 May, 2020 12:04am

Business & Economy
UBG seeks tax-free budget, special package

United Business Group (UBG) has put forward a set of proposals to the government seeking tax free federal budget 2020-21 besides special package of incentives to accelerate the pace of economic activities in the wake of Corona pandemic. Unfolding the sali
Published 14 May, 2020 12:04am

PM following in Musharraf's footsteps: Zardari

Former president Asif Ali Zardari on Wednesday said that Prime Minister Imran Khan is following in the footsteps of Gen Pervez Musharraf (retd) and maintained that the incumbent government has ruined the national consensus in the country.
Published 14 May, 2020 12:04am

Letters
People need jobs

Starting work on mega development projects is the best possible step aimed at generating massive job opportunities for the teeming unemployed skilled and non-skilled people across the country. Prime minister Imran Khan, in my view, has taken the right dec
Published 14 May, 2020 12:04am

Articles
Unlocking economic value

In a speech made to the House of Commons a little more than a century ago, Winston Churchill spoke of the significance of land, "It is quite true that land monopoly is not the only monopoly which exists, but it is by far the greatest of monopolies - it is
Published 14 May, 2020 12:04am

Articles
Taking advantage of RMB to develop Pakistan's economy

As the Covid-19 is spreading quickly around the world, its effects on the world economy including that of Pakistan are profound, complex and far-reaching. In order to mitigate the adverse impacts and rescue the nosediving economic growth, almost all count
Published 14 May, 2020 12:04am

Articles
The IPPs' curse

The recent "un-official" release of the Report by the Muhammad Ali Khan Committee on Power Sector has given the scandal hungry predators another target to feast upon. This Report fits right into a certain political and some TV channels' populist narrative
Published 14 May, 2020 12:04am

Baseless accusations

In a recent online lecture he gave India's legal counsel for Kulbhushan Jadhav, a RAW operative caught red-handed in Balochistan, has levelled unsubstantiated allegations against this country claiming that Pakistan was not implementing the judgement of th
Published 14 May, 2020 12:04am

Implementing SBP's initiatives

For all the government's alleged oversights in the war against the coronavirus, neither fiscal nor monetary authorities can be questioned for not doing enough to keep the economy solvent and protect jobs even when the whole system was shut down. And yet a
Published 14 May, 2020 12:04am

Business & Economy
PIA in dire financial straits: Debt-equity swap, bond issue options under study

Air travel has come to a standstill with countries locked down to fight the coronavirus pandemic, the Pakistan International Airlines (PIA) is also the worse-hit.
Published 14 May, 2020 12:04am

Commodities
KP millers demand lifting of ban on wheat supply from Punjab

Flour millers in Khyber Pakhtunkhwa have demanded of the federal government to lift ban on wheat supply from Punjab to ensure timely availability of wheat to local mills and fulfill requirement of food commodity and avert to create flour crisis in the pro
Published 14 May, 2020 12:04am

'Multinational tobacco companies involved in illegal trade of cigarettes'

Society for the Protection of the Rights of the Child (SPARC) organized "An online dialogue on illicit trade of tobacco products in Pakistan - Who is responsible?" on Wednesday.
Published 14 May, 2020 12:04am

Remembering Shaheed Allah Buksh Soomro

Today is the death anniversary of Shaheed Allah Buksh Soomro. He was born in 1900 in Shikarpur and went to school at Hopeful Academy Shikarpur. He matriculated in 1918. At the young age of 23 he was elected to Jacobabad Municipal Committee and Sukkur Dist
Published 14 May, 2020 12:04am

Covid-19: 731 new cases detected, 16 more died: CM

Sindh Chief Minister Syed Murad Ali Shah has said that 731 more cases of coronavirus were diagnosed when 4223 samples were tested while 16 other patients died, taking the tally to 13,341 cases and death toll to 234. "This shows that still we are facing up
Published 14 May, 2020 12:04am

Qureshi blasts India in SCO conference

Foreign Minister Shah Mahmood Qureshi on Wednesday blasted India in the SCO conference and urged the international community to condemn and hold accountable the perpetrators of "state terrorism", including against people under illegal occupation.
Published 14 May, 2020 12:04am

No shortage of necessary medical equipment: NDMA chairman

Chairman National Disaster Management Authority (NDMA) Lt General Muhammad Afzal on Wednesday announced that there was no shortage of necessary medical equipment to handle the coronavirus in the country.
Published 14 May, 2020 12:04am

Bodies of two children recovered from car in Karachi

Two bodies of children were recovered from a car in city's area of Manghopir on Wednesday, police said. As per details, the bodies were identified as of Danish Zubair and Ubaid Saeed, who are aged between 4 to 7 years.
Published 14 May, 2020 12:04am

NCOC warns of strict lockdown

The National Command and Operations Centre (NCOC) Wednesday, while reviewing the coronavirus situation in the country following easing down of the restrictions last week, has warned the public to follow the guidelines otherwise strict lockdown will be imp
Published 14 May, 2020 12:04am

Torkham border: 150 containers allowed to cross over into Afghanistan daily

A joint meeting of Khyber District Customs, NLC, FC and police officials was held at Pak-Afghan border Torkham wherein it was decided to allow cross-over of 150 transit goods loaded containers to Afghanistan on daily basis.
Published 14 May, 2020 12:04am

Sharif family cannot deny evidence of corruption, claims Akbar

Special Assistant to the Prime Minister on Accountability Shahzad Akbar on Wednesday said the Sharif family cannot deny the evidence of corruption done in the last 10 years, which increased the assets of the family significantly.
Published 14 May, 2020 12:04am

Coronavirus strategy: Provinces should be taken on board: Opposition

The opposition lawmakers in the National Assembly on Wednesday continued criticism of government's coronavirus strategy, saying the federal government should chalk out a joint strategy - with all the provinces onboard - to fight the deadly disease.
Published 14 May, 2020 12:04am

Covid-19 pandemic: PSF, HEC to conduct study to ascertain effects on industries: Fawad

Federal Minister for Science and Technology on Wednesday Fawad Chaudhry announced that the Pakistan Science Foundation (PSF) and the Higher Education Commission (HEC) would carry out a joint study to ascertain the effects of the coronavirus on the Pakista
Published 14 May, 2020 12:04am

'66 percent of coronavirus patients are male, 34 percent female in capital'

A sum of 66 percent of the coronavirus patients in the federal capital are male and 34 percent female, according to the official data.
Published 14 May, 2020 12:04am

Pakistan condemns Indian brutalities in IOK

Pakistan on Wednesday condemned the continued brutalizing Kashmiri people in the Occupied Jammu and Kashmir and urged the world community to hold India accountable for its crimes in the occupied valley.
Published 14 May, 2020 12:04am

Employees union moves IHC against appointments in PTV

A petition challenging the appointments of chief of human resource, chief of news and current affairs, and others in the Pakistan Television was filed before the Islamabad High Court (IHC) Wednesday.
Published 14 May, 2020 12:04am

Commodities
Documented tobacco sector: Factors for decrease in revenue collection identified

Major factors responsible for decrease in revenue collection from documented tobacco sector during 2019-2020 include weak enforcement, increase in Federal Excise Duty (FED) on cigarettes, and decrease in advance adjustable FED of Rs300 per kg to Rs10 per
Published 14 May, 2020 12:04am

Officials asked to monitor fumigation campaign

The Secretary Local Government (LG) Department Sindh Roshan Ali Shaikh asked Municipal Commissioners to closely monitor the fumigation campaign on daily basis across the province.
Published 14 May, 2020 12:04am

Commodities
Secretary to PSM CEO recruited

Pakistan Steel Mills (PSM), which is dysfunctional since June 2015 and unable to pay salaries to the employees and arrears of retired employees, has reportedly recruited a Secretary to the Chief Executive Officer, well-informed sources in the Ministry of
Published 14 May, 2020 12:04am

Press freedom: PFUJ expresses resolve to continue struggle

Pakistan Federal Union of Journalists (PFUJ) has expressed its resolve to continue its struggle for freedom of press.
Published 14 May, 2020 12:04am

Business & Economy
Reckitt Benckiser to invest Rs500m to fight Covid-19

Reckitt Benckiser (RB) has pledged to invest another Rs 500 million to help the country fight the Covid-19 pandemic.
Published 14 May, 2020 12:04am

Taxes
Covid-19 threat: FBR takes stakeholders' budget proposals thru video conferencing

The Federal Board of Revenue (FBR) has taken input of stakeholders seeking budget proposals of business associations and chambers/trade bodies including the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Pakistan Business Council
Published 14 May, 2020 12:04am

Pakistan urges Iran to enhance security measures on border

Pakistan has urged Iran to enhance security measures on its side of the border to prevent movement of terrorists, particularly the Baloch separatists involved in attacking Pakistani security forces in the restive Balochistan province.
Published 14 May, 2020 12:04am

IT & Computers
China tech giant Tencent's net profit jumps

Chinese internet giant Tencent reported Wednesday a sharp rise in first-quarter net profit after a surge in demand for its online games as the coronavirus pandemic forces people to stay home.
Published 14 May, 2020 12:04am

Global Business Economy
Malaysian records slowest growth since 2009

Malaysia's economy grew at its slowest pace in more than a decade during the first three months of the year as the coronavirus pandemic battered the country, but still managed to beat forecasts, data showed Wednesday.
Published 14 May, 2020 12:04am

Energy
Norwegian wealth fund blacklists global resources, energy giants

Norway's sovereign wealth fund, the world's largest, blacklisted 12 new companies Wednesday, including global mining giants such as Glencore and Anglo American, for ethical and climate reasons.
Published 14 May, 2020 12:04am

Global Business Economy
US producer prices record largest drop since 2009

US producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4-1/2 years, bolstering some economists' predictions for a brief period of deflation as the novel coronavirus depresses demand.
Published 14 May, 2020 12:04am

Money & Banking
In nod to grim US outlook, Fed's Powell calls for more fiscal support

The head of the Federal Reserve warned on Wednesday of an "extended period" of weak economic growth, vowed to use the US central bank's power as needed, and called for additional fiscal spending to stem the fallout from the coronavirus pandemic.
Published 14 May, 2020 12:04am

Global Business Economy
Amid pandemic, world economy projected to shrink 3.2 percent in 2020: UN

The world economy is projected to shrink by 3.2 percent in 2020 after the coronavirus pandemic sharply restricted economic activity, increased uncertainty and sparked the worst recession since the depression, the United Nations said on Wednesday.
Published 14 May, 2020 12:04am

Money & Banking
Heavy losses at Commerzbank

Germany's second-largest lender Commerzbank sank into a loss in the first quarter as it took a hit of 479 million euros over the coronavirus pandemic, it said Wednesday.
Published 14 May, 2020 12:04am

Money & Banking
Encrypted messenger Telegram ends cryptocurrency project

The Telegram messaging service has announced it is ending an ambitious cryptocurrency and payments system project after a legal battle with regulators in the United States.
Published 14 May, 2020 12:04am

Global Business Economy
Virus-slammed UK economy slumps at fastest pace since 2008

Britain's economy shrank in the first quarter at the fastest pace since the global financial crisis as the country went into coronavirus lockdown, data showed Wednesday, prompting the government to warn of a "significant" recession.
Published 14 May, 2020 12:04am

Merkel cites 'hard evidence' Russian hackers targeted her

German Chancellor Angela Merkel voiced frustration Wednesday that Russia was targeting her in hacking attacks, saying she had concrete proof of the "outrageous" spying attempts.
Published 14 May, 2020 12:04am

Europe steps up reopening, unveils plans for summer travel

Europe moved ahead with its emergence from coronavirus lockdown on Wednesday and laid out plans for summer tourism, but the pandemic gathered pace elsewhere.
Published 14 May, 2020 12:04am

IT & Computers
Facebook apologises for role in 2018 Sri Lanka unrest

Facebook has apologised for its role in the deadly communal unrest that shook Sri Lanka two years ago after an investigation found that hate speech and rumours spread on the platform may have led to violence against Muslims.
Published 14 May, 2020 12:04am

US adds Cuba to blacklist on counterterrorism

The United States said Wednesday it had added Cuba to a blacklist of countries that do not fully cooperate on counterterrorism, denouncing the presence of Colombian leftist guerrillas.
Published 14 May, 2020 12:04am

US says China trying to steal Covid-19 vaccine research

US authorities warned healthcare and scientific researchers Wednesday that Chinese-backed hackers were attempting to steal research and intellectual property related to treatments and vaccines for Covid-19.
Published 14 May, 2020 12:04am

Articles
Partly Facetious : Boris' bold decision

"Boris Johnson is recommending taking the bike to work, a proposal designed to contain the spread of the pandemic."
Published 14 May, 2020 12:04am

Persons convicted by military courts: PHC asked not to pass interlocutory order

The Supreme Court on Wednesday directed the Peshawar High Court (PHC) not to pass interlocutory order for granting bails to persons convicted by military courts and issued notices to the respondents.
Published 14 May, 2020 12:04am

Marriyum flays Shehzad Akbar's allegations

The Pakistan Muslim League-Nawaz (PML-N) Secretary Information, Marriyum Aurangzeb, on Wednesday flayed Prime Minister's Special Assistant on Accountability Shehzad Akbar's allegations and challenged him to come up with any objectionable cheque, transacti
Published 14 May, 2020 12:04am

NAB tells LHC: Inquires against ministers will conclude in 3 months

The Lahore High Court disposed of a petition against federal minister Khusro Bakhtiar and his brother provincial minister Hashim Jawan Bakht after the National Accountability Bureau informed that the inquires against the respondents into allegations of am
Published 14 May, 2020 12:04am

Cotton & Textile
Five exporting sectors: Textile industry urges govt to restore zero-rating regime

The value-added textile industry has asked the government to immediately restore zero-rating regime for the five exporting sectors, which is facing severe liquidity crunch owing to non-payment by the international buyers for indefinite period amidst world
Published 14 May, 2020 12:04am

CJP for professional training of investigation officers

Chief Justice of Pakistan Gulzar Ahmed emphasized the need to fix police investigation procedure.
Published 14 May, 2020 12:04am

Provinces asked to ensure strict implementation of SOP

The federal government has written a letter to all the provinces, the Azad Jammu and Kashmir (AJ&K), the Gilgit-Baltistan (GB) for strict implementation of standard operating procedures (SOPs) devised to control spread of the coronavirus during Ramzan and
Published 14 May, 2020 12:04am

Shehryar Afridi elected chairman of Parliamentary body on Kashmir

Minister of State for Narcotics Control Shehryar Afridi on Wednesday was elected as the Chairman of the Parliamentary Committee on Kashmir; nearly a month after the coveted slot fell vacant as a result of federal cabinet reshuffle in connection with the s
Published 14 May, 2020 12:04am

Ehsaas Programme: Rs96bn distributed among over 7.9m families

More than Rs 96 billion have been distributed among over 7.9 million families under the ongoing Ehsaas Emergency Cash Programme that aims to provide Rs 12,000 each to 12 million deserving families whose livelihoods are adversely affected with the outbreak
Published 14 May, 2020 12:04am

Commodities
Bad weather hits Ivory Coast cocoa mid-crop

Persisting below-average rains in most of Ivory Coast's cocoa growing regions last week was threatening the April-to-September mid-crop, farmers said on Monday.
Published 14 May, 2020 12:04am

Commodities
PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,711.
Published 14 May, 2020 12:04am

Commodities
European wheat down as US markets fall

European wheat futures fell on Tuesday in step with a drop in US prices as a US Department of Agriculture (USDA) crop report forecast large grain supplies and as recent rainfall eased drought worries in Europe.
Published 14 May, 2020 12:04am

Energy
Asia's naphtha falls to one week low

Asia's naphtha crack fell to one week low of $17.50 a tonne on Tuesday as supplies build up due to high volumes of east-bound cargoes, industry sources said.
Published 14 May, 2020 12:04am

Business & Economy
Activities of Karachi Port and Port Qasim

The Karachi Port handled 100,551 tonnes of cargo comprising 74,326 tonnes of import cargo and 26,225 tonnes of export cargo including 5,833 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 14 May, 2020 12:04am

Cotton & Textile
Cotton spot rate remains unchanged

Trading has started on the cotton market on Wednesday as government has eased the lockdown.
Published 14 May, 2020 12:04am

Commodities
China's steel futures rise on firm demand

Construction rebar and hot-rolled coil futures in China rose for the seventh straight session on Tuesday, boosted by firm consumption outlook even as data showed that the country reported a sharp drop in factory gate prices last month.
Published 14 May, 2020 12:04am

Stocks
Japanese stocks drop

Japanese shares dipped further from a two-month high on Wednesday, tracking overnight losses on Wall Street on fears of a second wave of COVID-19 infections, while some profit taking also weighed on the market.
Published 14 May, 2020 12:04am

Stocks
Dubai index rises, Abu Dhabi down

Dubai's stock market closed higher on Wednesday after the emirate further eased coronavirus-related restrictions, but the Abu Dhabi index was pressured by First Abu Dhabi Bank on its exposure to in-liquidation agri-trader Phoenix.
Published 14 May, 2020 12:04am

Stocks
China stocks climb

Chinese shares closed higher on Wednesday, reversing course from small losses as a rally in healthcare stocks boosted the index, although gains were capped due to persisting concerns around a potential second wave of COVID-19 cases.
Published 14 May, 2020 12:04am

Stocks
Travel and auto stocks lead Europe lower

Travel stocks, automakers and banks led a slide in European shares on Wednesday as fears of a resurgence in coronavirus cases and a worrying outlook from the US central bank chief dented hopes of a swift economic recovery.
Published 14 May, 2020 12:04am

Stocks
Wednesday's early trade: Indexes fall on Powell's grim outlook

Wall Street's main indexes fell on Wednesday after Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes due to the coronavirus pandemic.
Published 14 May, 2020 12:04am

Stocks
S&P tumbles 2 percent

The S&P 500 dropped 2% on Tuesday as investors took profits following a warning from the top US infectious disease expert that premature moves to reopen the nation's economy could lead to novel coronavirus outbreaks and set back economic recovery.
Published 14 May, 2020 12:04am

Stocks
Bitcoin rises

Bitcoin rose Wednesday after undergoing an eagerly awaited adjustment that occurs every few years to limit the amount of the virtual currency on the market, building on a recent coronavirus-driven rally.
Published 14 May, 2020 12:04am

Stocks
SE Asian stocks largely down

Most Southeast Asian stock markets slipped on Wednesday as investors worried that lifting of coronavirus lockdowns could lead to a second wave of infections and set back economic recovery, while Malaysian market was boosted by a better-than-expected quart
Published 14 May, 2020 12:04am

Stocks
London stocks fall as GDP shrinks

UK stock markets fell on Wednesday as data showed a nationwide shutdown crushed retail sales in April, while the economy shrank by a record 5.8% in March in further evidence of the business damage caused by the novel coronavirus outbreak.
Published 14 May, 2020 12:04am

Money & Banking
Sterling falls to 6-week low against dollar

A stronger US dollar sent the British pound to its lowest in weeks on Wednesday after Federal Reserve Chair Jerome Powell delivered remarks in which he said an "extended period" of weak growth may be in store for the United States. Powell said the central
Published 14 May, 2020 12:04am

Money & Banking
Most Asian units subdued

Most Asian currencies were subdued on Wednesday ahead of a speech by US Federal Reserve Chairman Jerome Powell, while investors worried that a rebound in global coronavirus infections would delay economic recovery.
Published 14 May, 2020 12:04am

Money & Banking
Early trade in New York: Dollar erases losses

The US dollar erased losses to trade flat against a basket of currencies on Wednesday, after Federal Reserve Chair Jerome Powell rejected the idea of using negative interest rates as a stimulative tool, even as he sounded a gloomy note about economic grow
Published 14 May, 2020 12:04am

Money & Banking
Dollar steadies in Europe

The dollar steadied below a three-week high on Wednesday as investors waited for a speech from Federal Reserve Chairman Jerome Powell after US President Donald Trump called for the introduction of negative interest rates.
Published 14 May, 2020 12:04am

Business & Economy
Motiwala says cutting down of gas tariff need of the hour

Former president of KCCI and patron of SITE Association of Industry (SAI), Zubair Motiwala, has urged Prime Minister Imran Khan to consider lowering of gas tariff and RLNG rates so that the cost of production of exporting industries is reduced, and export
Published 14 May, 2020 12:04am

Business & Economy
FPCCI asks for 400 basis points cut in key policy rate

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked for some 400 basis points cut in the key policy rate to facilitate the industry.
Published 14 May, 2020 12:04am

SHC asks hospitals to reopen emergency wards and OPDs

Sindh High Court (SHC) ordered all public and private hospitals across the province to reopen emergency wards and outpatient departments (OPDs) immediately to treat the patients suffering from various ailments.
Published 14 May, 2020 12:04am

Business & Economy
Pulses import grows by 9 percent

Pakistan's import of pulses grew by 9 percent to $428.763 million during July-Mar 2019-20, official figures say.
Published 14 May, 2020 12:04am

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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KSE-100 gains over 3% as buying returns to PSX

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

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