News Archives for Print - 2020-05-15

Sterling touched a low of $1.2166 on Thursday, extending its losses after it slipped below the key $1.22 level for the first time in more than five weeks, held down by a combination of coronavirus-induced economic woes and Brexit risks.

Published 15 May, 2020 12:05am

Money & Banking

Aussie slips

The Australian dollar slipped on Thursday after data showed the largest-ever drop in jobs in April as much of the economy was locked down to tackle the coronavirus, though dogged demand for the country's bonds limited the losses.

Published 15 May, 2020 12:05am

Money & Banking

Dollar strengthens in Europe

The dollar strengthened towards a three-week high on Thursday as stock markets weakened broadly after Federal Reserve Chairman Jerome Powell dismissed speculation about negative interest rates.

Published 15 May, 2020 12:05am

Money & Banking

Early trade in New York: Dollar climbs to three-week peak

The dollar rose to a three-week high on Thursday, as stock markets weakened broadly after Federal Reserve Chairman Jerome Powell dismissed speculation over US interest rates entering negative territory.

Published 15 May, 2020 12:05am

Money & Banking

Most Asian currencies drop

Most Asian currencies eased on Thursday, after US Federal Reserve Chair Jerome Powell's gloomy economic assessment led investors to offload risky assets and rush to the safety of the dollar.

Published 15 May, 2020 12:05am

Money & Banking

London stocks slide

London's FTSE 100 fell for a second straight day on Thursday as investors worried that a recovery from a coronavirus-led economic slump would be slower than expected even as several hard-hit countries started easing lockdowns.

Published 15 May, 2020 12:05am

Money & Banking

SE Asian markets down

Most Southeast Asian stock markets fell on Thursday as worries over a prolonged global economic recovery from the damages caused by COVID-19 pandemic were exacerbated by the World Health Organization's warning that the virus may never go away.

Published 15 May, 2020 12:05am

Money & Banking

Turkish lira up

Turkey's lira firmed some 0.25% against the dollar on Thursday, maintaining a firmer trend on optimism over possible swap lines being established with foreign central banks, after the currency hit an all-time low last week.

Published 15 May, 2020 12:05am

Stocks

Wall Street down on Powell's sober outlook

Wall Street's three major indexes closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on additional fiscal

Published 15 May, 2020 12:05am

Stocks

Thursday's early trade: Main indexes slip on trade war fears, economic worries

Wall Street's main indexes were lower in choppy trading on Thursday, as renewed worries about Sino-US trade relations added to fears of an extended economic downturn due to the virus outbreak.

Published 15 May, 2020 12:05am

Stocks

European shares hit three-week low

A wave of selling hit European shares on Thursday amid investor fears of a prolonged economic downturn due to the coronavirus pandemic, driving euro zone banks to all-time lows at one point.

Published 15 May, 2020 12:05am

Stocks

China stocks lower

Chinese shares closed lower on Thursday as investors worried about a prolonged recovery in the economy, while awaiting more active stimulus policies to cushion the blow from the COVID-19. The Shanghai Composite index ended 0.96% lower at 2,870.34.

Published 15 May, 2020 12:05am

Stocks

Most Gulf stocks fall

Most stock markets across the oil-reliant Gulf region ended lower on Thursday, as the Organization of the Petroleum Exporting Countries (OPEC) and International Energy Agency (IEA) estimated lower demand for crude in 2020 due to the impact of the COVID-19

Published 15 May, 2020 12:05am

Commodities

CBOT soyabean futures lower

Chicago Board of Trade soyabean futures ended lower on Wednesday as favourable weather and a speedy planting pace supported the US Department of Agriculture's forecast for a large US soya harvest topping 4 billion bushels, traders said.

Published 15 May, 2020 12:05am

Commodities

CBOT corn futures fall

Chicago Board of Trade corn futures ended lower on Wednesday on spillover weakness from wheat and soyabeans, and an active US planting pace that has bolstered forecasts for a record-large US corn harvest in 2020, traders said.

Published 15 May, 2020 12:05am

Cotton & Textile

Cotton business likely to resume fully after Ramazan

Traders are hopeful that activities on cotton market will fully resume after Ramazan.

Published 15 May, 2020 12:05am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 119,306 tonnes of cargo comprising 79,329 tonnes of import cargo and 39,977 tonnes of export cargo including 7,877 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Published 15 May, 2020 12:05am

Energy

US natural gas futures fall to four-week low

US natural gas futures fell to a four-week low on Wednesday on forecasts for domestic demand and exports to drop as businesses remain closed due to government lockdowns to stop the spread of the coronavirus.

Published 15 May, 2020 12:05am

Commodities

Euronext wheat falls to one week low

Euronext wheat fell to one week low on Wednesday, pressured by a sharp drop in Chicago following a US government forecast of record world stocks next season and beneficial rain for crops across Europe.

Published 15 May, 2020 12:05am

Commodities

Ukraine's grain harvest seen falling

Ukraine's 2020 grain harvest is likely to fall by 3.5% to 72.52 million tonnes because of a smaller yield caused by poor weather despite a larger sowing area, analyst ProAgro said on Tuesday.

Published 15 May, 2020 12:05am

Commodities

Canadian canola futures down

ICE Canadian canola futures edged down on Wednesday mostly on lower soyabean and soy oil prices.

Published 15 May, 2020 12:05am

Commodities

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,734.

Published 15 May, 2020 12:05am

Trump threatens China ties, says in no mood for Xi talks

US President Donald Trump further hardened his rhetoric towards China on Thursday, saying he no longer wishes to speak with Xi Jinping and warning darkly he might cut ties over the rival superpower's handling of the coronavirus pandemic.

Published 15 May, 2020 12:05am

Russia probes FT, NYT after virus death toll reports

Russia on Thursday launched a probe into the Financial Times and the New York Times after the newspapers said local authorities could be vastly under-reporting deaths from the coronavirus in the country.

Published 15 May, 2020 12:05am

EU court rules against Hungary over migrant centres

The EU's top court on Thursday ruled against Hungary over its "transit zone" camps for migrants, dealing a fresh blow to the right-wing Budapest government and its hardline anti-immigration policies.

Published 15 May, 2020 12:05am

Malaysia drops charges against 'Wolf of Wall Street' producer

Malaysian prosecutors dropped Thursday 1MDB-linked charges against one of the producers of Hollywood hit "The Wolf of Wall Street" after he struck a deal that should see authorities recover over $100 million.

Updated 15 May, 2020 08:21am

Burundi expels top WHO team

Burundi has ordered the expulsion of the World Health Organization's (WHO) expert team backing the country's response to the coronavirus pandemic, just days before a presidential election.

Published 15 May, 2020 12:05am

Indian journalist Dhaval Patel arrested, charged with sedition

Authorities in Gujarat must immediately release journalist Dhaval Patel and drop all charges against him, the Committee to Protect Journalists said on Wednesday.

Published 15 May, 2020 12:05am

Typhoon forces risky evacuations in virus-hit Philippines

A powerful typhoon hit the central Philippines Thursday, forcing a complicated and risky evacuation for tens of thousands of people, many of them heading to cramped shelters without proper safety gear to guard against the coronavirus.

Published 15 May, 2020 12:05am

Global Business Economy

Second layoffs, backlogs wave keeps US jobless claims sky high

The novel coronavirus crisis continues to pummel the US labour market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by

Published 15 May, 2020 12:05am

Global Business Economy

Boeing scores deals to deliver over 1,000 missiles to Saudi Arabia

Boeing has been awarded two contracts worth more than $2 billion for the delivery of more than 1,000 air-to-surface and anti-ship missiles to Saudi Arabia, the Pentagon said Wednesday.

Published 15 May, 2020 12:05am

Money & Banking

Pandemic to cost global insurers $203 billion: Lloyd's

The deadly coronavirus pandemic will cost the global insurance industry about $203 billion (188 billion euros), Lloyd's of London insurance market forecast on Thursday.

Published 15 May, 2020 12:05am

Global Business Economy

Nearly 600,000 Australians lose jobs

Almost 600,000 Australians lost their jobs as the virus shutdown took hold in April, the steepest monthly drop since records began more than 40 years ago, data showed Thursday.

Published 15 May, 2020 12:05am

Money & Banking

One-third of US workers who lost jobs can't pay bills: Fed

Over a third of US workers who lost jobs or saw their hours reduced because of the coronavirus pandemic will have trouble paying their bills and nearly half do not have an extra $400 for an emergency, according to a survey released Thursday.

Published 15 May, 2020 12:05am

Taxes

Virus to slash almost 100 billion euros off Germany's 2020 tax intake

Germany expects the coronavirus pandemic to wipe almost 100 billion euros off the 2020 tax intake, estimates published Thursday by the finance ministry showed.

Published 15 May, 2020 12:05am

Brief Recordings

COVID-19: Economic consequences for women

The novel Corona Virus Disease that was first detected in China in Nov-2019, has spread to 216 countries. As of May 14, 2020 status report by World Health Organization, over 4.2 million cases have been reported worldwide with 290,000 plus deaths. The Covi

Updated 15 May, 2020 04:26am

Stocks

AFS equity investments: SECP allows firms relief from requirements of IAS 39

The Securities and Exchange Commission of Pakistan (SECP) on Thursday allowed companies/entities that are applying IAS 39/principles of IAS 39 (for Available for Sale equity instruments), relief from the requirements in relation to their Available for Sal

Published 15 May, 2020 12:05am

President asks NTU to play its role in helping textile industry

President Dr Arif Alvi has asked the National Textile University (NTU), Faisalabad, to play its role in helping the textile industry of the country in value addition and diversification of its product.

Published 15 May, 2020 12:05am

Super tax for TDPs rehabilitation: IR commissioner can invoke, utilise provisions of Section 4B, rules LHC

The Lahore High Court (LHC) has ruled that the commissioner Inland Revenue can very well invoke and utilise the provisions of Section 4B (super tax) in case of super tax for rehabilitation of the temporarily displaced persons (TDPs).

Published 15 May, 2020 12:05am

Covid-19 infection surges among dialysis, transplant & cancer patients at SIUT

The recent data from SIUT has revealed a surge of Covid infections in dialysis, transplant and cancer patients at SIUT. Due to the spread in the community last week, 55 additional patients of dialysis, transplant and cancer have been admitted in SIUT over

Published 15 May, 2020 12:05am

All efforts being made to control economic losses: Razak

Government is making all out efforts to control the economic losses incurred by our fragile economy in the wake of coronavirus lockdown, said Abdul Razak Dawood, Advisor to PM on Commerce, Textile and Investment.

Published 15 May, 2020 12:05am

215 shops sealed in Lahore for violating SOPs

The District Administration Lahore on Thursday took stern action against shops involved in the violation of Covid-19 related SOPs and sealed 215 shops of busy markets located in diverse parts of the provincial capital.

Published 15 May, 2020 12:05am

LHC suspends sentence of convict, releases him on bail

The Lahore High Court on Thursday suspended the sentence of Saadat Amin of Sargodha and released him on bail convicted for being part of an international nexus of child pornographers.

Published 15 May, 2020 12:05am

LDA demolishes 12 buildings for violating bylaws

In an operation against illegal constructions, the Lahore Development Authority (LDA) on Thursday demolished 12 buildings for violating the building bylaws.

Published 15 May, 2020 12:05am

Cotton & Textile

KCBF seeks separate cotton ministry

The target of production of 15 million bales of cotton according to the vision of Prime Minister Imran Khan can only be achieved if the government should establish a separate cotton ministry to look after the affairs of the cotton trade exclusively.

Published 15 May, 2020 12:05am

Conditional opening of gyms, salons allowed in Punjab

The Primary and Secondary Healthcare Department (PSHD) of Punjab has allowed conditional permission to reopen gymnasiums, health clubs, salons and barbershops under a set of standard operating procedures (SOPs) and guidelines during the lockdown.

Published 15 May, 2020 12:05am

Buzdar lays foundation stone of cardio institute, other projects

Punjab Chief Minister Sardar Usman Buzdar laid the foundation stone of Sardar Fateh Muhammad Khan Buzdar Institute of Cardiology in DG Khan on Thursday.

Published 15 May, 2020 12:05am

Taxes

Senior customs officials: FBR revises structure of Licensing Committee

The Federal Board of Revenue (FBR) has revised structure of Licensing Committee of senior customs officials for grant of licence to the company to track and monitor various types of cargoes covering transit cargo, export of petroleum, oil and lubricants (

Published 15 May, 2020 12:05am

Taxes

FBR relieves three Grade-21 IRS officials

The Federal Board of Revenue (FBR) has compulsorily relieved three Grade-21 officials of Inland Revenue Service from their duties with immediate effect to ensure their joining to new place of postings.

Published 15 May, 2020 12:05am

Police Order, 2002: IHC gives government one week to submit reply

The Islamabad High Court (IHC) gave the federal government one week to submit reply in petition related to difficulties being faced during police investigation of major crimes and implementation of the Police Order, 2002.

Published 15 May, 2020 12:05am

ICT admin accelerates action against SOPs violators

The Islamabad Capital Territory (ICT) Administration has accelerated action against violators of standard operating procedures (SOPs) framed to control the spread of deadly coronavirus.

Published 15 May, 2020 12:05am

KSBL appoints Mubashar Hameed as Rector

The Board of Karachi School of Business and Leadership (KSBL) has appointed Mubashar Hameed as the Rector. In addition to his role as Rector KSBL, Hameed will also serve as CEO of Karachi Education Initiative (KEI). The KEI is the sponsoring and fund rais

Published 15 May, 2020 12:05am

Pakistan concerned over Israeli plan to annex illegally occupied West Bank

Pakistan on Thursday expressed grave concerns over Israeli plan to annex the illegally occupied West Bank and reiterated its call for establishment of a viable, independent and contiguous State of Palestine with Al-Quds Al-Sharif as its capital.

Published 15 May, 2020 12:05am

Covid-19 may spread beyond handling capacity, warns governor

Punjab Governor Chaudhry Mohammad Sarwar has warned that non-seriousness shown by the people after ease in lockdown may lead to spread of Covid-19 beyond the handling capacity of healthcare system.

Published 15 May, 2020 12:05am

IT & Computers

July-March: IT, ITeS export remittances surge to $901.486 million

The country's information technology (IT) and IT enabled Services (ITeS) export remittances have surged to $901.486 million at growth rate of 23.94 percent during the first nine months (July-March) of fiscal year 2019-20 compared to $727.353 million durin

Published 15 May, 2020 12:05am

18th Amendment needs modification instead of repealing: Kamal

Pak Sarzameen Party Chairman Syed Mustafa Kamal on Thursday said that the 18th constitutional Amendment needs to be amended instead of repealing it altogether.

Published 15 May, 2020 12:05am

Cricket

Nadeem Khan appointed PCB's Director HP

Former Test spinner Nadeem Khan has been appointed as the PCB's Director - High Performance (HP) following a robust recruitment process. Nadeem was one of the 16 candidates who had applied for the role and was subsequently interviewed by Iqbal Qasim (Chai

Published 15 May, 2020 12:05am

PU announces semester exam schedule

After approval of recommendations of Academic Council from Syndicate through circulation, Punjab University administration has announced the schedule of summer break and semester examinations.

Published 15 May, 2020 12:05am

Covid-19 death toll tops 243: Murad urges masses not to be influenced by false propaganda

Sindh Chief Minister Syed Murad Ali Shah Thursday said 758 new cases of coronavirus have been detected by testing 4,487 samples which shows 17 percent of the tests while nine more patients died taking the death toll to 243.

Published 15 May, 2020 12:05am

Minister hints at strict lockdown if guidelines violation continues

Sindh Information Minister Syed Nasir Hussain Shah has said all the shopkeepers who were not complying with the agreed standard operating procedures (SOPs) had been warned that if they continue to do so, their shops would be closed.

Published 15 May, 2020 12:05am

173 policemen test positive for Covid-19

As many as 173 police personnel including officers in Sindh province have so far been tested positive for the coronavirus (Covid-19).

Published 15 May, 2020 12:05am

Indo-Pakistan border area faces impending locust invasion: Met

Locust attacks pose an "unprecedented" threat to the country's food security with the livelihood of farmers, as migration of the insects has started from spring breeding areas into Indo-Pak border parts, the Met Office said on Thursday.

Published 15 May, 2020 12:05am

Business & Economy

Appointment of new DG (HR&GA) EOBI welcomed

Chairman Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry on Thursday felicitated Shazia Rizvi on her appointment as Director General (HR & GA) Employees Old-Age Benefits Institutions.

Published 15 May, 2020 12:05am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 27	278.95
USD PKR Interbank Buying / Jan 27	278.80
USD to Japanese Yen / Jan 27	154.64
USD to Swiss Franc / Jan 27	0.90
Pound Sterling to USD / Jan 27	1.25
Euro to USD / Jan 27	1.05

Stock	Volume
S&P 500 / Jan 24	6,101.24
Nasdaq / Jan 24	19,954.30
Dow Jones / Jan 24	44,424.25
India Sensex / Jan 27	75,346.55
Tokyo Nikkei / Jan 27	39,565.80
Hang Seng / Jan 27	20,197.77
FTSE 100 / Jan 27	8,485.58
Germany DAX 30 / Jan 27	21,124.29

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 24	18,485
Gold 10 Grams PKR / Jan 24	248,285
Petrol/Litre / Jan 27	256.13
Crude Oil USD/Barrel / Jan 27	74.82
Gold Spot USD/Ounce / Jan 27	2,763.59
Diesel/Litre / Jan 27	260.95

Gainers
Losers
Leaders

Stock	Price
Chenab Ltd (Pref) / Jan 27 Chenab Limited (Pref)(CLCPS)	3.93 ▲ 0.49 (14.24%)
Chenab Ltd / Jan 27 Chenab Limited(CHBL)	8.57 ▲ 1 (13.21%)
B. F. Mod. / Jan 27 B.F. Modaraba(BFMOD)	8.39 ▲ 0.89 (11.87%)
Sanghar Sugar / Jan 27 Sanghar Sugar Mills Limited(SANSM)	25.36 ▲ 2.31 (10.02%)
Leather Up Ltd. / Jan 27 Leather Up Limited(LEUL)	36.70 ▲ 3.34 (10.01%)
Shahtaj Sugar / Jan 27 Shahtaj Sugar Mills Limited(SHJS)	113.69 ▲ 10.34 (10%)
At-Tahur Ltd. / Jan 27 At-Tahur Limited(PREMA)	25.85 ▲ 2.35 (10%)
Archroma Pak / Jan 27 Archroma Pakistan Limited(ARPL)	478.56 ▲ 43.51 (10%)
Saritow Spinning / Jan 27 Saritow Spinning Mills Limited(SSML)	12.24 ▲ 1.11 (9.97%)

Stock	Price
LSE Financial Serv. / Jan 27 LSE Financial Services Limited(LSEFSL)	17.52 ▼ -1.95 (-10.02%)
Sui South Gas / Jan 27 Sui Southern Gas Company Limited(SSGC)	39.53 ▼ -4.39 (-10%)
Hussain Industries / Jan 27 Husein Industries Limited(HUSI)	28.50 ▼ -3.14 (-9.92%)
Arctic Textile / Jan 27 Arctic Textile Mills Limited(ARCTM)	18.90 ▼ -2.08 (-9.91%)
Apna Microfin. / Jan 27 Apna Microfinance Bank Limited(AMBL)	10.09 ▼ -1.1 (-9.83%)
National Silk / Jan 27 The National Silk & Rayon Mills Limited(NSRM)	50 ▼ -5.44 (-9.81%)
Gammon Pak / Jan 27 Gammon Pakistan Limited(GAMON)	38 ▼ -4.04 (-9.61%)
Unicap Modaraba / Jan 27 Unicap Modaraba(UCAPM)	2.57 ▼ -0.27 (-9.51%)
Synthetic Prod / Jan 27 Synthetic Products Enterprises Limited(SPEL)	41 ▼ -4.06 (-9.01%)

Stock	Volume
Cnergyico PK / Jan 27 Cnergyico PK Limited(CNERGY)	61,454,571 ▼ -0.13
Sui South Gas / Jan 27 Sui Southern Gas Company Limited(SSGC)	57,677,562 ▼ -4.39
WorldCall Telecom / Jan 27 Worldcall Telecom Limited(WTL)	33,767,457 ▼ -0.06
The Searle Co. / Jan 27 The Searle Company Limited(SEARL)	26,713,969 ▼ -5.54
Pak Elektron / Jan 27 Pak Elektron Limited(PAEL)	22,757,545 ▲ 0.67
Fauji Cement / Jan 27 Fauji Cement Company Limited(FCCL)	20,797,108 ▼ -0.46
Citi Pharma Ltd / Jan 27 Citi Pharma Ltd.(CPHL)	18,489,077 ▼ -6.73
P.T.C.L. / Jan 27 Pakistan Telecommunication Company Ltd(PTC)	18,264,183 ▲ 0.82
Ghani Chem. Ind. / Jan 27 Ghani Chemical Industries Limited(GCIL)	17,202,553 ▲ 0.67

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