News Archives for Print - 2020-05-19

Print - 2020-05-19

No need to keep markets closed on weekends: SC

The Supreme Court declared the decision of closure of business on Saturdays and Sundays illegal, and directed the Sindh government to approach the Ministry of National Health Services, Regulation and Coordination (NHSRC) for reopening of shopping malls in

Published 19 May, 2020 12:02am

Virus fears as India, Bangladesh evacuate millions to shelters ahead of cyclone

India and Bangladesh began evacuating more than two million people Monday as a cyclone barrelled towards their coasts, with officials racing to ready extra shelters amid fears of coronavirus contagion in cramped refuges.

Published 19 May, 2020 12:02am

Stocks

KSE-100 Index plunges: BRIndex100 edges down

Pakistan Stock Exchange Monday opened on a positive note however failed to maintain this momentum due to selling in various sectors.

Published 19 May, 2020 12:02am

Gradual reopening essential for economic health of society: Faraz

Information Minister Senator Shibli Faraz on Monday said that gradual reopening of markets and transport was essential for the economic health of society.

Published 19 May, 2020 12:02am

PIA special flight brings students back from Wuhan

As many as 174 Pakistani students were repatriated to the country from Wuhan and Hubei province on Monday. A first special flight of the Pakistan International Airlines (PIA) from China transported Pakistani nationals back home.

Published 19 May, 2020 12:02am

Over Rs3bn donations collected so far: PM launches Cat-IV of Ehsaas Programme

Prime Minister Imran Khan Monday launched the newly added category-IV of ongoing Ehsaas Emergency Cash Programme to provide financial assistance to those who have lost their livelihoods as a result of the coronavirus outbreak.

Published 19 May, 2020 12:02am

Sindh government to act as per court's decision: Ghani

In accordance with the direction of Supreme Court, the Sindh government decided to reopen markets on Saturdays and Sundays.

Published 19 May, 2020 12:02am

Rail service will resume tomorrow

After months long closure, rail service will be resumed partially on Wednesday but on the condition that standard operating procedures (SOPs) are adhered to as the country battles the novel coronavirus. Speaking at a presser, the Minister for Railways, Sh

Published 19 May, 2020 12:02am

Japan slides into recession

Japan dived into its first recession since 2015, according to official data Monday, with the world's third-largest economy shrinking by 0.9 percent in the first quarter as it wrestles with the fallout from the coronavirus.

Published 19 May, 2020 12:02am

Outsourcing of airports: Cabinet to consider plan

The federal cabinet which is scheduled to meet today with prime minister in the chair, will consider a plan to outsource major airports of Pakistan, official sources told Business Recorder.

Published 19 May, 2020 12:02am

FDI grows 127 percent in 10 months

Despite Covid-19 pandemic, Foreign Direct Investment (FDI) continued its rising trend in Pakistan and posted a healthy growth of 127 percent during the first ten months of current fiscal year (FY20). The State Bank of Pakistan (SBP) revealed on Monday tha

Published 19 May, 2020 12:02am

NAC estimates provisional growth at -0.38 percent

The provisional growth of Gross Domestic Product (GDP) for the year 2019-20 has been estimated at -0.38 percent, which is based on growth estimates of the agricultural, industrial and services sectors at 2.67 percent, -2.64 percent and 0.59 percent, respe

Published 19 May, 2020 12:02am

Fiscal deficit to continue to rise in 2021 and beyond: Moody's

Pakistan will continue to register large fiscal deficits in 2021 and beyond, says Moody's Investor Services (Moody's).

Published 19 May, 2020 12:02am

Loopholes, gaps in taxation system identified

International tax expert Dr Ikramul Haq on Monday conveyed to the Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, that the tax gap in Pakistan had been estimated at 50 percent, which immediately required removal of enforcemen

Published 19 May, 2020 12:02am

Financial year 2020-2021: Confusion reigns over who will present budget

With the budget date scheduled for 12 June drawing near the government is facing the challenge of preparing a 'corona budget' amidst uncertainty as to who would present it in Parliament.

Published 19 May, 2020 12:02am

WHO promises pandemic review but savaged by US as China pledges $2 billion

The World Health Organization said on Monday an independent review of the global coronavirus response would begin as soon as possible and it received backing and a hefty pledge of funds from China, in the spotlight as the origin of the pandemic.

Published 19 May, 2020 12:02am

Taliban blast near Afghan intelligence base kills 7

The Taliban claimed a deadly attack on an Afghan intelligence agency post Monday, even as they urged the new power-sharing government to accelerate a prisoner swap to pave the way for talks.

Published 19 May, 2020 12:02am

Telemetry system project: Government likely to remove three Irsa members

The federal government is likely to remove three Irsa members for allegedly clashing with World Bank's consultants for telemetry system project worth $ 4.5 million, sources close to Secretary Ministry of Water Resources told Business Recorder.

Published 19 May, 2020 12:02am

Indian plane makes emergency landing

An Indian cargo plane made an emergency technical landing in Islamabad early Monday.

Published 19 May, 2020 12:02am

Masood Akhtar Naqvi appointed Chairman SECP Policy Board

Finance Ministry has decided to appoint S Masood Akhtar Naqvi as Chairman Securities and Exchange Policy Board, official sources told Business Recorder.

Published 19 May, 2020 12:02am

Agri, social sector projects: Two $371m agreements inked with WB

Pakistan and World Bank Monday signed two agreements of $371 million to support projects in agriculture and social sector.

Published 19 May, 2020 12:02am

Economic, energy, & trade reforms: ADB extended $1.8bn loans in 2019

The Asian Development Bank (ADB) extended a total of $1.8 billion to Pakistan to support key economic, energy, and trade reforms in 2019.

Published 19 May, 2020 12:02am

PIA reports 43 percent growth in revenue

With a 76 percent reduction in operating losses, Pakistan International Airlines (PIA) has reported 43 percent growth in revenue for 2019.

Published 19 May, 2020 12:02am

Letters

A picture says a thousand words

A picture of a PIA flight showing facemask-wearing passengers and cabin crew carried by Business Recorder in its Sunday's issue is a strong reflection of a meaningful ease in almost two-month-long lockdown across the country. PIA has claimed that i

Published 19 May, 2020 12:02am

Articles

Dubai's historic gold souk shines again after lockdown

Evening dresses made of gold mesh, gilded sunglasses and glittering crowns are sparkling again from the windows of Dubai's historic gold souk which was shuttered during the coronavirus lockdown.

Published 19 May, 2020 12:02am

Articles

Hedging oil

.Oil prices have touched zero and became even negative recently. A debate has ensued in Pakistan that we should have bought cheaper oil. It is a different matter that around the same time, there was news of diesel shortages. Petroleum Division, probably,

Published 19 May, 2020 12:02am

Articles

The forthcoming budget

The Federal and Provincial Budgets for 2020-21 are expected to be announced in the month of June, starting with the presentation of the Federal Budget on the 5th of June. These budgets come at a time when the economy has been badly hit by the COVID-19 and

Published 19 May, 2020 12:02am

An unending war

Two brutal attacks in recent days in Afghanistan have laid bare the fragility of the so-called peace agreement struck between the US and the Taliban in Doha in January 2020. The first attack was on a hospital in Kabul that specifically targeted the matern

Updated 19 May, 2020 07:10am

Exams and Covid-19

Of all the things about daily life that the coronavirus has disrupted so badly, since it has made it all but impossible for even a few people to be in the same vicinity without serious risk to a lot of people's lives, perhaps the worst is the ability of s

Updated 19 May, 2020 07:09am

Transporters protest against Sindh government decision

The Sindh Transporter Associations on Monday staged a protest against the decision of Sindh Government not allowing the transport to be plied in the province but the transporters announced to bring the vehicles on road from 20th May 2020.

Published 19 May, 2020 12:02am

KP reduces public transport fares by 18-25 percent

Advisor to KP CM on Information and Public Relations Ajmal Khan Wazir has said that in wake of reduction in the prices of petroleum products the provincial government has reduced fares of public transport by 18 to 25 percent.

Published 19 May, 2020 12:02am

Eid-specific items witness manifold increase

The prices of an entire range of Eid-specific items have witnessed manifold increase with the religious festival just around the corner, while the shopping is also gaining momentum.

Published 19 May, 2020 12:02am

Indian diplomat summoned over ceasefire violations

Pakistan summoned senior Indian diplomat on Monday and lodged with him a strong protest over the ceasefire violations by the Indian troops along the Line of Control (LoC) the other day that resulted in serious injuries to an innocent civilian.

Published 19 May, 2020 12:02am

Taxes

FBR official's posting

Syed Muhammad Tariq Huda, a BS-21 officer of Pakistan Customs Service, on repatriation to the FBR (HQ), is transferred and posted as Member (Customs-Operations), Federal Board of Revenue (HQ), Islamabad, with immediate effect. In this regard, the FBR has

Published 19 May, 2020 12:02am

Eid holidays

The government has announced six-day-Eid holidays - May 22 to May 27 - for the forthcoming Eid-ul-Fitr including Juma-tul-Wida which falls on May 22, prolonging the festive vacations.

Published 19 May, 2020 12:02am

PID expedites payment process

In the light of the directions of the Prime Minister's office to clear outstanding payments to media, PID has taken up the issue of outstanding payments with all the Federal Ministries/ Departments/Organizations and expedited the payment process. In this

Published 19 May, 2020 12:02am

All malls to be opened in capital

The district administration on Monday decided to open all big shopping malls, which have been closed following the spread of the Covid-19.

Published 19 May, 2020 12:02am

Taxes

FBR urged to release verified income tax refunds before Eid

The manufactures have urged the Federal Board of Revenue (FBR) to release their verified income tax refunds before Eid providing them much needed cash liquidity to meet their pressing expenses especially those pertaining to staff salaries/wages.

Published 19 May, 2020 12:02am

Ansar Aziz's suspension case: IHC issues notices to Ministry, LG Commission chairman

The Islamabad High Court (IHC) Monday issued notices to Interior Ministry and chairman Local Government Commission in Mayor Islamabad Sheikh Ansar Aziz's petition challenging his suspension.

Published 19 May, 2020 12:02am

Money & Banking

'Account No-1': Government likely to disallow 4 entities from direct operation

The government is likely to disallow four entities - Pakistan Post Office Department (pension payment and others); Federal Board of Revenue (tax refunds); State Bank of Pakistan (interest and principal payment) and Central Directorate of National Savings

Published 19 May, 2020 12:02am

Health sector major focus in next budget: Sindh minister

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest and Wildlife Syed Nasir Hussain Shah has said that the major focus of the Sindh government in the forthcoming budget would be on the health sector.

Published 19 May, 2020 12:02am

Money & Banking

Covid-19, locust control: WB, Sindh government agree to launch $145 million project

The World Bank and Sindh government have agreed to launch $145 million Sindh Covid-19 Response programme and Locust control project in the province.

Published 19 May, 2020 12:02am

Business & Economy

Government should allow all industries to reopen: KATI

President Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan has demanded of the government to allow all industries to reopen and remove lockdown restrictions from the entire sector.

Published 19 May, 2020 12:02am

Covid-19: People urged to follow SOPs

Aaj News Special Transmission to create awareness against coronavirus "Pur Azm Pakistan" is making strides in terms of sensitising the people about the pandemic by appealing them to take precautionary measures and follow the standard operating procedures

Published 19 May, 2020 12:02am

Heatwave likely for next two days: Met

The city is expected to witness a 'very' hot and humid weather with maximum temperature up to 42 degrees Celsius, as the Met Office on Monday forecast heat wave for the next 2 days.

Published 19 May, 2020 12:02am

Business & Economy

Sindh, Punjab urged to give consultancy to mango farmers

Former chairman of the standing committee of the FPCCI on horticulture Ahmad Jawad has urged the Sindh and Punjab agriculture department officials to provide consultancy in field to mango farmers for safe harvesting, processing, packing and transportation

Published 19 May, 2020 12:02am

Business & Economy

PBIF calls for timely completion of Diamer-Bhasha dam

President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that the government should try timely completion of the Diamer-Bhasha dam so that the history of Neelum-Jhelum power project could not be repeated.

Published 19 May, 2020 12:02am

Sindh has 19 labs to test 6,550 Covid-19 samples per day: CM

Sindh Chief Minister Syed Murad Ali Shah has said his province is much ahead of others in conducting Covid-19 tests and our labs are working at 77 percent capacity.

Published 19 May, 2020 12:02am

Opening of markets: SC intervened due to wrong policies of Sindh government: Mayor

Mayor Karachi Wasim Akhtar Monday said that due to wrong policies of Sindh Government, the apex court had to intervene and order opening of markets.

Published 19 May, 2020 12:02am

Post-retirement claims: SHC directs Centre, PSM to allocate funds

Sindh High Court (SHC) Monday directed federal government and Pakistan Steel Mills (PSM) to allocate requisite funds to settle the post-retirement claims of all retired employees of PSM.

Published 19 May, 2020 12:02am

LHC expresses dismay over affairs of police department

The Lahore High Court on Monday directed the police department to resolve by June 11 the dispute regarding denial of promotion to police inspector Rizwan Qadir, a complainant in state FIR of Model Town killings incident, and accused in the second FIR of t

Published 19 May, 2020 12:02am

CM lays foundation of Firdous Market underpass project

Punjab Chief Minister Sardar Usman Buzdar laid the foundation stone of Firdous Market underpass project here on Monday. Talking on the occasion, the CM said that a sum of Rs 1.76 billion would be spent on that project which included land acquisition. Givi

Published 19 May, 2020 12:02am

Sugar inquiry: Commission seeks four more days to submit report

The sugar crises inquiry commission has sought four more days to submit its detailed forensic audit report to the prime minister.

Published 19 May, 2020 12:02am

Business & Economy

KE announces further relief for small businesses

In continuation of earlier relief measures on account of the COVID-19 crisis, K-Electric (KE) is facilitating Small and Medium Enterprises (SMEs) through pre-paid electricity bills under the "Chota Karobar-o-Sannat Imadadi package" announced by the Federa

Published 19 May, 2020 12:02am

Sindh Assembly session tomorrow

Speaker of Sindh Assembly, Agha Siraj Durrani, has summoned a session of the provincial assembly of Sindh to meet on Wednesday.

Published 19 May, 2020 12:02am

Healthcare professionals: AKU to provide training on Covid-19 critical care

The Sindh government's collaboration with the Aga Khan University (AKU) to provide free-of-cost training and technical assistance on Covid-19 critical care to healthcare professionals working in the public sector launched on Monday.

Published 19 May, 2020 12:02am

Energy

Ogra may face lack of quorum as member's contract expired

The Oil and Gas Regulatory Authority (Ogra) may face lack of quorum as member oil's contract expired on Friday, and contract of chairperson will expire in July.

Published 19 May, 2020 12:02am

Business & Economy

OICCI welcomes amendments to Companies Act 2017

The Overseas Investors Chamber of Commerce and Industry (OICCI), has felicitated the SECP on the Companies (Amendment) Ordinance, 2020 promulgated on April 30. The Chamber, along with other leading business association, has in the past challenged some of

Published 19 May, 2020 12:02am

Mayor for increasing KMC employees' salaries by 15 percent

Mayor Karachi Wasim Akhtar Monday directed finance department of Karachi Metropolitan Corporation (KMC) to increase 15 percent salaries of employees and pay them May salary in advance ahead of Eidul Fitr.

Published 19 May, 2020 12:02am

Global Covid-19 plastic waste could end up in country

While Pakistan is still grappling with an ever increasing number of Covid-19 cases, it is facing another impending environmental and health disaster as thousands of tons of global Covid-19 plastic waste may end up in the country in the absence of a ban on

Published 19 May, 2020 12:02am

Articles

Partly Facetious : Shahzad Akbar's girth is expanding!

"The Khan needs to issue an urgent directive..."

Published 19 May, 2020 12:02am

Coronavirus will not spare anyone, says Governor

Expressing concern over reports that coronavirus infections would multiply in the days to come, Punjab Governor Chaudhry Mohammad Sarwar said on Monday that the virus will not spare anyone and the only remedy left is either to stay home or strictly observ

Published 19 May, 2020 12:02am

Business & Economy

Power-loom industry facing shortage of workers

Power-loom industry has restarted functioning throughout the country but only partially due to non-availability of fifty percent of skilled workforce, which moved to their hometowns due to COVID-19 and lockdown.

Published 19 May, 2020 12:02am

Energy

Neelum Jhelum crosses 8 billion units mark

State-of-the-art 969 MW-Neelum Jhelum Hydropower Project achieved another milestone as its contribution to the national grid crossed 8 billion mark, said Wapda sources.

Published 19 May, 2020 12:02am

KBP rejects agriculture package

The Kissan Board Pakistan (KBP) rejected the agricultural package announced by the federal government and termed it a joke with the farmers.

Published 19 May, 2020 12:02am

Minister urges traders to ensure SOPs implementation

Provisional Industries and Trade Minister Mian Aslam Iqbal met with a delegation of traders at Punjab Information Technology Board Office on Monday.

Published 19 May, 2020 12:02am

Business & Economy

SC directions hailed: LCCI submits proposals for budget 2020-21

The Lahore Chamber of Commerce & Industry (LCCI) has submitted its budget 2020-21 proposals to the federal government amid Covid-19 economic scenario suggesting deferment of interest payments of the businesses for six months, grant of exemption from the p

Published 19 May, 2020 12:02am

Locust control: Arrangements completed for aerial spray

Agriculture Department Punjab in collaboration with the Department of Plant Protection has completed the arrangements of aerial spray to control the spring breed of locusts.

Published 19 May, 2020 12:02am

'Medical students not to be promoted without exams'

The Inter-Medical University Board, which met here on Monday, decided that no student of any medical or dental college would be promoted to next class without passing the examination.

Published 19 May, 2020 12:02am

PFMA, food secy talks end with no result

Dialogues between the flour millers and the Punjab food secretary remained inconclusive on Monday to convince the millers to call off their strike after which the Pakistan Flour Mills Association (PFMA) announced to continue its strike till acceptance of

Published 19 May, 2020 12:02am

Taxes

FBR chief seeks updated lists of refund claimants

Federal Board of Revenue (FBR) Chairperson Nosheen Javed Amjad on Monday directed chief commissioners of large taxpayer units and regional tax offices (RTOs) to update lists of income tax refund claimants on emergency basis.

Published 19 May, 2020 12:02am

Rs 6.53 billion distributed among deserving families: Buzdar

Punjab Chief Minister Sardar Usman Buzdar on Monday said that more than Rs 6.53 billion has been distributed among the deserving families in five days under the CM Punjab Insaf Imdad Programme and Ehsaas Programme.

Published 19 May, 2020 12:02am

IT & Computers

IT sector fetches $35.1m FDI in Jul-Apr

Information Technology sector fetched $35.1 million Foreign Direct Investment (FDI) in July-April 2020 compared to $22.9 million in the corresponding period of last fiscal year, registering an increase of around $12.2 million.

Published 19 May, 2020 12:02am

PSDP 2019-20: Rs 562 billion released against budgeted Rs 701 billion

The federal government has released Rs562 billion (80 percent) including Rs109.29 billion foreign aid (85 percent) for various ongoing and new development projects under the Public Sector Development Programme (PSDP) 2019-20 against the total budgeted all

Published 19 May, 2020 12:02am

Brief Recordings

Gul Ahmed Textile Mills

Gul Ahmed Textile Mills Limited (PSX: GATM) was established in 1953 as a private limited company and converted into a public limited company two years later in 1955. GATM has fully integrated textile operations, and is in the business of making cotton yar

Updated 19 May, 2020 04:26am

Global Business Economy

Thai economy slips into recession after worst quarter in 8 years

Thailand's economy contracted at its sharpest pace in eight years in the first quarter, pushing Southeast Asia's second largest economy into recession sooner than expected, as the coronavirius pandemic hit tourism and domestic activity.

Published 19 May, 2020 12:02am

Telecommunication

Huawei to fund new tech hub at Imperial College London

Chinese telecoms giant Huawei is to fund a new £5 million ($6.1 million, 5.6-million-euro) technology hub at Imperial College London, British media reported. The institution did not confirm or deny the reports when contacted by AFP, and said an announceme

Published 19 May, 2020 12:02am

Global Business Economy

US auto plants get back to work

Two months after effectively freezing American auto manufacturing, Detroit's "Big Three" on Monday began a gradual ramp-up of plants with new configurations and procedures to prevent coronavirus outbreaks.

Published 19 May, 2020 12:02am

Telecommunication

Huawei says 'survival' at stake after US chip restrictions

Huawei on Monday assailed the latest US move to cut it off from semiconductor suppliers as a "pernicious" attack that will put the Chinese technology giant in "survival" mode and sow chaos in the global technology sector.

Published 19 May, 2020 12:02am

Global Business Economy

Macron, Merkel agree 500 billion euro recovery plan

France and Germany proposed Monday a 500 billion euro ($542 billion) fund to finance the recovery of the European Union's economy from the devastation wrought by the coronavirus crisis.

Published 19 May, 2020 12:02am

Global Business Economy

Uber says cutting 3,000 jobs and trimming investment

Uber on Monday announced it is cutting a quarter of its global workforce and trimming investment to survive the financial hit to its business from the coronavirus pandemic.

Published 19 May, 2020 12:02am

Global Business Economy

McDonald's slapped with sexual harassment lawsuit

An international group of labor unions said Monday it has filed a lawsuit against McDonald's for "systemic sexual harassment" at the fast food chain's restaurants around the world.

Published 19 May, 2020 12:02am

US economy showing 'encouraging signs': White House

The US economy is showing "encouraging signs" and there's no need for another spending package to combat the downturn caused by the coronavirus pandemic, a White House advisor said on Monday.

Published 19 May, 2020 12:02am

American bluesman Lucky Peterson dies

American blues musician Lucky Peterson died suddenly Sunday at age 55 in Dallas, Texas. A message on his Facebook page, announcing the death "with great sorrow," said Peterson was rushed to a hospital in critical condition after falling ill at his home.

Published 19 May, 2020 12:02am

Libya unity government seizes airbase in new blow for rival Haftar

Libya's UN-recognised government scored another battlefield victory Monday against strongman Khalifa Haftar, capturing a key rear base used by his fighters in a conflict now in its second year.

Published 19 May, 2020 12:02am

Scientists discover 'immune scars' on patients with lung infections

Patients recovering from severe lung infections develop "immunological scars" that stifle their body's immune response and heighten their risk of contracting pneumonia, a common killer of Covid-19 sufferers, researchers said Monday.

Published 19 May, 2020 12:02am

French screen legend Michel Piccoli dies

Michel Piccoli, one of the most original and versatile French actors of the last half century, has died aged 94, his family said Monday. He died "in the arms of his wife Ludivine and his children Inord and Missia after a stroke", the family told AFP.

Published 19 May, 2020 12:02am

US drugmaker reports promising early results from Covid-19 vaccine test

US biotech firm Moderna reported promising early results on Monday from the first clinical tests of an experimental vaccine against the novel coronavirus performed on a small number of volunteers.

Published 19 May, 2020 12:02am

Commodities

Vietnamese coffee prices fall

Vietnamese coffee prices fell this week, tracking weakness in London prices, while trade in Indonesia was quiet as market participants waited for new harvest, traders said on Thursday. Farmers in the Central Highlands, Vietnam's largest coffee-growing are

Published 19 May, 2020 12:02am

Commodities

Russian export prices for new wheat crop down

Russian export prices for the new wheat crop, which is due to arrive this summer, fell last week following a decline in the global benchmark in Chicago, analysts said on Monday.

Published 19 May, 2020 12:02am

Commodities

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,866.

Published 19 May, 2020 12:02am

Commodities

Thai rice prices fall as demand flows to India, Vietnam

Thai rice export prices fell this week as the drought-hit country saw fresh supplies entering the market while also facing stiff competition from cheaper Indian and Vietnamese offers.

Published 19 May, 2020 12:02am

Energy

Asia's naphtha crack more than doubles on demand

Asia's naphtha physical crack surged by another 145% on Monday to reach a near two-and-a-half-week high of $32.20 a tonne, supported by strong demand and improving gasoline fundamentals.

Published 19 May, 2020 12:02am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 83,046 tonnes of cargo comprising 63,092 tonnes of import cargo and 19,954 tonnes of export cargo including 1,451 loaded and empty containers during the last 24 hours ending at 0700 hours on Monday.

Published 19 May, 2020 12:02am

Cotton & Textile

Few trading activity seen on cotton market

Trading activity will fully resume in the cotton market after the Eid holidays. In the local cotton market some trading activity was witnessed after the easing of long lockdown.

Published 19 May, 2020 12:02am

Commodities

Gold demand tepid in most Asian centres

Physical gold demand was tepid in most Asian centres this week with retail buying yet to see any significant recovery even as top hubs India and China eased some coronavirus-driven restrictions.

Published 19 May, 2020 12:02am

Stocks

Most Gulf stocks rise

Most major Gulf stock markets rose on Monday, lifted by rising oil prices, led by Saudi Arabia after its banking sector got a boost from upbeat corporate earnings.

Published 19 May, 2020 12:02am

Stocks

Tokyo stocks up

Japanese shares rose on Monday as signs of a slowdown in coronavirus infections raised optimism that the government would soon ease restrictions in additional prefectures, although escalating US-China trade tensions kept investors wary.

Published 19 May, 2020 12:02am

Stocks

European shares gain

European shares bounced on Monday after their worst week in two months, as investors hoped for a gradual economic recovery with many countries easing coronavirus-led lockdowns.

Published 19 May, 2020 12:02am

Stocks

China equities rise

China shares ended higher on Monday as investors took hope from data showing home prices rose in April, but renewed trade tensions between Beijing and Washington and the threat of a second wave of coronavirus infections limited gains.

Published 19 May, 2020 12:02am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 30	278.58
USD PKR Interbank Buying / Dec 30	278.43
USD to Japanese Yen / Dec 30	156.45
USD to Swiss Franc / Dec 30	0.90
Pound Sterling to USD / Dec 30	1.26
Euro to USD / Dec 30	1.04

Stock	Volume
S&P 500 / Dec 30	5,906.94
India Sensex / Dec 30	78,248.13
Tokyo Nikkei / Dec 30	39,894.54
Nasdaq / Dec 30	19,486.79
Hang Seng / Dec 30	20,111.38
FTSE 100 / Dec 30	8,121.01
Dow Jones / Dec 30	42,573.73
Germany DAX 30 / Dec 30	19,909.14

Item	Value
Crude Oil USD/Barrel / Dec 30	71.36
Karachi Cotton PKR/37.32 KG / Dec 30	17,785
Gold 10 Grams PKR / Dec 30	241,430.80
Gold Spot USD/Ounce / Dec 30	2,604.69
Cotton US¢/pound / Dec 30	68.76
Petrol/Litre / Dec 31	252.10

Gainers
Losers
Leaders

Stock	Price
Cnergyico PK / Dec 30 Cnergyico PK Limited(CNERGY)	7.52 ▲ 1.00 (15.34%)
Sec. Inv. Bank / Dec 30 Security Investment Bank Limited(SIBL)	8.99 ▲ 1.00 (12.52%)
Abdullah Shah / Dec 30 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	7.20 ▲ 0.79 (12.32%)
Dost Steels Ltd. / Dec 30 Dost Steels Limited(DSL)	6.70 ▲ 0.72 (12.04%)
Telecard Limited / Dec 30 Telecard Limited(TELE)	9.63 ▲ 1.00 (11.59%)
Media Times Ltd / Dec 30 Media Times Limited(MDTL)	2.40 ▲ 0.24 (11.11%)
I.C.C. Ind. / Dec 30 ICC Industries Limited(ICCI)	10.03 ▲ 1.00 (11.07%)
B.O.Punjab / Dec 30 The Bank of Punjab(BOP)	10.48 ▲ 1.00 (10.55%)
Idrees Tex. / Dec 30 Idrees Textile Mills Limited(IDRT)	14.27 ▲ 1.30 (10.02%)

Stock	Price
National Silk / Dec 30 The National Silk & Rayon Mills Limited(NSRM)	49.90 ▼ -5.54 (-9.99%)
Olympia Mills / Dec 30 Olympia Mills Limited(OML)	36 ▼ -3.99 (-9.98%)
Maqbool Tex. / Dec 30 Maqbool Textile Mills Limited(MQTM)	28.50 ▼ -2.56 (-8.24%)
Shahzad Tex. / Dec 30 Shahzad Textile Mills Limited(SZTM)	27.50 ▼ -2.37 (-7.93%)
Al-Khair Gadoon / Dec 30 Al-Khair Gadoon Limited(AKGL)	38.50 ▼ -3.21 (-7.70%)
Dewan Textile / Dec 30 Dewan Textile Mills Limited(DWTM)	6.90 ▼ -0.56 (-7.51%)
Engro Poly(Pref / Dec 30 Engro Poly(Pref)(EPCLPS)	11.10 ▼ -0.90 (-7.50%)
Habib Sugar / Dec 30 Habib Sugar Mills Limited(HABSM)	79 ▼ -5.26 (-6.24%)
First Tri-Star Mod. / Dec 30 First Tri-Star Modaraba(FTSM)	14.35 ▼ -0.90 (-5.90%)

Stock	Volume
Cnergyico PK / Dec 31 Cnergyico PK Limited(CNERGY)	125,613,935 ▲ 0.16
WorldCall Telecom / Dec 31 Worldcall Telecom Limited(WTL)	111,551,930 ▲ 0.01
B.O.Punjab / Dec 31 The Bank of Punjab(BOP)	84,182,656 ▲ 0.08
Silk Bank Ltd / Dec 31 Silkbank Limited(SILK)	48,777,302 ▲ 0.02
K-Electric Ltd. / Dec 31 K-Electric Limited(KEL)	45,320,218 ▲ 0.07
Pak Elektron / Dec 31 Pak Elektron Limited(PAEL)	36,348,761 ▲ 1.08
Sui South Gas / Dec 31 Sui Southern Gas Company Limited(SSGC)	30,315,237 ▲ 0.25
Fauji Foods Ltd / Dec 31 Fauji Foods Limited(FFL)	29,105,477 ▲ 0.09
Telecard Limited / Dec 31 Telecard Limited(TELE)	26,616,811 ▲ 0.22

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