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Print - 2020-05-18
'Tax relief' budget being prepared

'Tax relief' budget being prepared

On the directions of the Advisor to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, the Federal Board of Revenue (FBR) is preparing a "tax relief" budget 2020-2021 for the business community and the general masses with a focus on greate
Published 18 May, 2020 12:06am
'Drastic policies needed for survival of export sector'

'Drastic policies needed for survival of export sector'

The Regional President of International Apparel Federation (IAF) and Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A. Khokhar on Sunday said that trade and commerce activities were adversely affected b
Published 18 May, 2020 12:06am
Leaders 'aren't even pretending to be in charge': Obama

Leaders 'aren't even pretending to be in charge': Obama

Former US President Barack Obama on Saturday criticized the response to the COVID-19 pandemic ravaging America, in what was widely regarded as a rare public rebuke of his successor Donald Trump.
Published 18 May, 2020 12:06am
StormFiber distributes PPE to isolation centres, hospitals

StormFiber distributes PPE to isolation centres, hospitals

StormFiber, a leading consumer broadband service powered by Cybernet, has announced the distribution of Personal Protective Equipment (PPE) kits and protective gear to healthcare, security, isolation, and quarantine facilities across the country.
Published 18 May, 2020 12:06am
ADG visits FDA city to check administrative matters

ADG visits FDA city to check administrative matters

On the directions of Faisalabad Development Authority Director General Muhammad Suhail Khawaja, Additional Director General (ADG) FDA Amer Aziz visited FDA city to check various administrative matters.
Published 18 May, 2020 12:06am
Equities stay in green zone
Stocks

Equities stay in green zone

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended May 15, 2020 on the back of healthy buying mainly by local investors and institutions.
Published 18 May, 2020 12:06am
Ghani, Abdullah sign deal to end bitter feud

Ghani, Abdullah sign deal to end bitter feud

Afghan President Ashraf Ghani and his rival Abdullah Abdullah signed a power-sharing deal on Sunday, ending a bitter months-long feud that plunged the country into political crisis.
Published 18 May, 2020 12:06am
ZTBL restructuring: Three-member advisory body constituted

ZTBL restructuring: Three-member advisory body constituted

Finance Division has constituted a three-member Advisory Committee to restructure Zarai Tarqiati Bank Limited (ZTBL), which is being penalized by the Securities and Exchange Commission of Pakistan (SECP) for functioning without a Board for the last three
Published 18 May, 2020 12:06am
NFC and 18th Amendment: Experts cite reasons behind controversy

NFC and 18th Amendment: Experts cite reasons behind controversy

The failure of federal government to increase tax to GDP ratio and reduce non-development expenditures are the major reasons behind the ongoing controversy over National Finance Commission (NFC) and 18th Constitutional Amendment.
Published 18 May, 2020 12:06am
Power Division fails to retain services of CEO CCPA-G
Energy

Power Division fails to retain services of CEO CCPA-G

Power Division has reportedly failed to retain the services of incumbent CEO, CCPA-G, Abid Latif Lodhi due to weak political leadership at the Ministry, well informed sources told Business Recorder.
Published 18 May, 2020 12:06am
Egypt editor arrested

Egypt editor arrested

Egyptian security services on Sunday arrested the editor-in-chief of prominent independent news outlet Mada Masr, its lawyer said, the latest in a crackdown against journalists.
Published 18 May, 2020 12:06am
India's frivolous objection
Letters

India's frivolous objection

China has rejected the objection raised by India over construction of Diamer-Bhasha Dam. According to Beijing, economic cooperation between China and Pakistan is aimed at promoting economic development and improving the well-being of the local population.
Published 18 May, 2020 12:06am
Will they...?
Articles

Will they...?

A new phase, a new reality. The virus is there to stay for sometime. Sometime can be spent on being locked down or locked in, but, not for long. Countries are grappling with the reality of the virus being a way of life and that life without a virus will n
Published 18 May, 2020 12:06am
Foreign exchange earnings
Articles

Foreign exchange earnings

Pakistan's foreign exchange reserves on 30 April 2020 as per the State Bank of Pakistan (SBP) website were 12.329 billion dollars, a respectable amount given the ongoing global pandemic that has severely negatively impacted on our exports and is likely to
Published 18 May, 2020 12:06am
Nadra-ECP spat

Nadra-ECP spat

During a recent meeting of the Election Commission of Pakistan (ECP) and National Database and Registration Authority (Nadra) officials led by their respective heads, a heated exchange ensued with the former expressing anger at the latter's performance in
Updated 19 May, 2020 07:07am
Sometimes it doesn't pay to be overcautious

Sometimes it doesn't pay to be overcautious

The discount rate was further reduced by 100 basis points to 8 percent on 15 May 2020 - the fifth reduction in less than two months. The discount rate was 13.25 percent from 20 July 2019 to 16 March 2020, 12.50 percent from 17 March to 23 March, 11 percen
Updated 19 May, 2020 07:06am
Four employees of PM House test positive

Four employees of PM House test positive

Four employees of the Prime Minister House have been tested positive for Covid-19 after routine tests of the staffers were conducted on Saturday.
Published 18 May, 2020 12:06am
Provinces: Shibli denies reports about governor's rule

Provinces: Shibli denies reports about governor's rule

Federal Minister for Information and Broadcasting Senator Shibli Faraz has rebutted the rumours circulating on social media regarding governor's rule in the provinces, describing these as 'propaganda' by anti-state elements.
Published 18 May, 2020 12:06am
Prices of essential kitchen items remain high
Commodities

Prices of essential kitchen items remain high

The retail prices of all essential kitchen items including pulses, vegetables, rice, wheat flour, fruits, sugar, chilies, milk, spices, chicken and meat are almost firm in the open market despite twice reduction in prices of petroleum products and easing
Published 18 May, 2020 12:06am
Tally of Covid-19 cases hits 40,151

Tally of Covid-19 cases hits 40,151

The nationwide tally of coronavirus cases has reached to 40,151 with 1,352 new cases and 39 new deaths reported during the last 24 hours. With a total of 15,590 cases, Sindh is at the top of the most confirmed cases of Covid-19 followed by Punjab with 14,
Published 18 May, 2020 12:06am
Clear policy on export of medical equipment demanded
Business & Economy

Clear policy on export of medical equipment demanded

The federal government's indecisiveness and half-cocked policies may lead to the surrender of up to $ 2 billion worth of medical equipment including Persona Protective Equipments (PPEs) to neighbouring countries as domestic industry is not getting a posit
Published 18 May, 2020 12:06am
AJK PM orders complete lockdown

AJK PM orders complete lockdown

Azad Jammu and Kashmir Prime Minister Raja Farooq Haider Khan on Sunday, directed to tighten lockdown measures and announced a complete lockdown will be restored across AJK from Monday. The premier ordered authorities to restore restrictions of a complete
Published 18 May, 2020 12:06am
PPP rejects 10th NFC notification

PPP rejects 10th NFC notification

Pakistan People's Party (PPP) on Sunday rejected the notification of the 10th National Finance Commission Award (NFC) as being 'illegal' and asked the government to withdraw it immediately.
Published 18 May, 2020 12:06am
WEEKLY COTTON REVIEW: No trading activity witnessed for two months
Cotton & Textile

WEEKLY COTTON REVIEW: No trading activity witnessed for two months

Formulation of new cotton policy 2020-2021 is under process. Federal Committee on Agriculture (FCA) will announce the total estimates of cotton production and the total area of cotton cultivation. All Pakistan Textile Mills Association has presented their
Updated 21 May, 2020 05:22am
Pakistan welcomes Afghan power sharing deal

Pakistan welcomes Afghan power sharing deal

Pakistan on Sunday welcomed the political deal for power-sharing in Afghanistan between President Ashraf Ghani and his political rival Abdullah Abdullah and reiterated its commitment to continue to support a peaceful, stable, united, democratic and prospe
Published 18 May, 2020 12:06am
Forces School's flagship campus foundation stone-laying ceremony held

Forces School's flagship campus foundation stone-laying ceremony held

The foundation stone laying ceremony of Forces School's flagship campus was recently held at Blue World City, a one of its kind lifestyle community project, which offers unique leisure and entertainment opportunities of international standards.
Published 18 May, 2020 12:06am
Gas & Oil Pakistan introduces EV charging facilities
Energy

Gas & Oil Pakistan introduces EV charging facilities

Gas & Oil Pakistan Limited (GO), the fastest growing oil marketing company (OMC) in Pakistan has announced that it has become the first OMC in Pakistan to introduce electric vehicle (EV) charging facility at its retail outlets.
Published 18 May, 2020 12:06am
Nasir slams PTI over Covid-19 measures

Nasir slams PTI over Covid-19 measures

Instead of making collective efforts to cope with the challenges posed by global pandemic (Covid-19), the Sindh Government and Centre are indulged in blame game and degrade each other as the Sindh Minister for Information & Local Government Syed Nasir Hus
Published 18 May, 2020 12:06am
787 new Covid-19 positive cases in Sindh: CM

787 new Covid-19 positive cases in Sindh: CM

Sindh Chief Minister Syed Murad Ali Shah has said that there are 451 ventilators in Sindh government hospitals, of them 109 have been reserved for coronavirus patients of which only 31 have been occupied which showed 16 percent utilisation of the ventilat
Published 18 May, 2020 12:06am
ABL collaborates with PMAS
Money & Banking

ABL collaborates with PMAS

Agriculture is backbone of Pakistani economy as it contributes significantly towards our GDP and employment. While playing its role as financial institution to support farming community through tailor made financial products ABL truly acknowledges the eff
Published 18 May, 2020 12:06am
Buzdar briefed about Tiger Force

Buzdar briefed about Tiger Force

Special Assistant to PM on Youth Affairs Muhammad Usman Dar met Punjab CM Sardar Usman Buzdar and gave a briefing about Tiger Force in the province of Punjab.
Published 18 May, 2020 12:06am
SOPs issued for congregational prayers of Jumatul Wida

SOPs issued for congregational prayers of Jumatul Wida

The Punjab government has decided to issue SOPs for congregational prayers of Jumatul Wida (last Friday of Ramazan) and Eid-ul-Fitr, besides ensuring strict implementation of anti-coronavirus measures at shopping malls and inter-city public transport perm
Published 18 May, 2020 12:06am
Asia's high yield debt market starts to thaw
Stocks

Asia's high yield debt market starts to thaw

The first high yield debt deal in Asia for nearly two months was underway on Thursday as China's Zhenro Properties Group looked to raise $200 million in a transaction that bankers predict could prompt more junk bond deals to emerge in the region.
Published 18 May, 2020 12:06am
Australia's securities regulator ends trading limits
Stocks

Australia's securities regulator ends trading limits

Australia's securities regulator removed limits on the number of daily trades big brokers can execute on Thursday, lifting a rule imposed after a spike in volume exceeded processing capacity two months ago.
Published 18 May, 2020 12:06am
Zimbabwe to circulate higher bank notes
Money & Banking

Zimbabwe to circulate higher bank notes

Zimbabwe will introduce higher denomination bank notes to increase the amount of cash in circulation, the finance minister said in a government notice on Thursday, at a time inflation is soaring and pushing prices beyond the reach of the majority.
Published 18 May, 2020 12:06am
Egypt to loan EgyptAir $127 million
Global Business Economy

Egypt to loan EgyptAir $127 million

Egypt's government will lend EgyptAir 2 billion Egyptian pounds ($127.39 million) due to the impact of the coronavirus on its operations, the finance ministry said.
Published 18 May, 2020 12:06am
GM chief confirms job cuts at autonomous car company
Global Business Economy

GM chief confirms job cuts at autonomous car company

Auto giant General Motors (GM), the main shareholder in autonomous car company Cruise, confirmed Friday that the business will cut 160 jobs, or eight percent, of its workforce.
Published 18 May, 2020 12:06am
2020 list of UK's richest shows first fall in wealth in decade
Global Business Economy

2020 list of UK's richest shows first fall in wealth in decade

Britain's wealthiest people have lost tens of billions of pounds in the coronavirus pandemic as their combined annual wealth fell for the first time in a decade, the Sunday Times reported in its Rich List 2020.
Published 18 May, 2020 12:06am
Emirates plans to cut about 30,000 jobs
Global Business Economy

Emirates plans to cut about 30,000 jobs

Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30% from more than 105,000 at the end of March, Bloomberg News reported on Sunday.
Published 18 May, 2020 12:06am
Reliance in $870 million General Atlantic deal
Global Business Economy

Reliance in $870 million General Atlantic deal

India's Reliance Industries on Sunday announced US fund General Atlantic will invest 65.98 billion rupees ($870 million) in Jio Platforms, a fourth deal that takes investment in its digital unit to over $8 billion in less than a month.
Published 18 May, 2020 12:06am
US comedian Fred Willard passes away

US comedian Fred Willard passes away

Four-time Emmy award-winning comedian Fred Willard, who appeared in films including "Anchorman" and "This is Spinal Tap" and television shows such as "Modern Family," has died aged 86, his agent announced Saturday.
Published 18 May, 2020 12:06am
Somali governor killed in suicide blast

Somali governor killed in suicide blast

A Somali governor and three bodyguards were killed in a suicide attack claimed by the Al-Shabaab jihadist group in the regional capital of Galkayo on Sunday, a security official said.
Published 18 May, 2020 12:06am
First virus death in Nepal - a new mother

First virus death in Nepal - a new mother

Nepal reported its first coronavirus death late Saturday - a 29-year-old woman who recently gave birth - as the total number of people infected in the country reached 281.
Published 18 May, 2020 12:06am
Russian newborn has coronavirus

Russian newborn has coronavirus

A baby was born with the coronavirus in Russia's Caucasus region, health officials were quoted by TASS news agency as saying on Sunday, to a mother who is also infected.
Published 18 May, 2020 12:06am
Qatar imposes mandatory masks on pain of prison

Qatar imposes mandatory masks on pain of prison

Qatar on Sunday began enforcing the world's toughest penalties of up to three years' imprisonment for failing to wear masks in public, as it battles one of the world's highest coronavirus infection rates.
Published 18 May, 2020 12:06am
The Weather

The Weather

The weather report on Sunday (May 17, 2020) and the forecast for Monday (May 18, 2020).

Published 18 May, 2020 12:06am
YOUR RUPEE LAST MONTH
Rates

YOUR RUPEE LAST MONTH

Following currency fluctuations took place in foreign exchange rates during the last month. (April 2 to 30, 2020)

Published 18 May, 2020 12:06am
Your rupee last week
Rates

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (May 11 to 15, 2020).

Published 18 May, 2020 12:06am