News Archives for Print - 2020-05-20

Print - 2020-05-20

LNG scam: NAB summons Miftah today

The National Accountability Bureau (NAB) has summoned former finance minister Miftah Ismail to appear on Wednesday (today) in the Liquefied Natural Gas (LNG) scam.

Published 20 May, 2020 12:05am

Stocks

KSE-100 Index rallies: BRIndex100 edges up

Despite foreign selling, Pakistan Stock Exchange Tuesday witnessed a positive trend on the back of local investors and institutional support.

Published 20 May, 2020 12:05am

ECC to approve mobile device manufacturing policy today

The Econ-omic Coordination Committee (ECC) of the Cabinet which is scheduled to meet on Wednesday (May 20) will approve the country's first mobile device manufacturing policy, as some amendments have been made to the policy in consultation with stakeholde

Published 20 May, 2020 12:05am

6 soldiers, driver martyred in Balochistan

Seven security personnel were martyred in two separate terrorist attacks in Balochistan in an increased wave of militant attacks on security forces in the restive province during the current month.

Published 20 May, 2020 12:05am

External inflows stand at $7.381bn in July-April

Total provisional external inflows from multiple financing sources were $7.381 billion during July-April of fiscal year 2019-20 against the budgeted amount of $12.958 billion for the entire fiscal year which is around 57 percent of the budgeted amount.

Published 20 May, 2020 12:05am

Rs 200 billion Sukuk-II oversubscribed by 70 percent

In a landmark achievement, Power Energy Sukuk-II of Rs200 billion is heavily oversubscribed by an amount of Rs139 billion (70 percent) at a rate of six months KIBOR minus 0.10 percent. The book-running was held on May 18-19 at the PSX.

Published 20 May, 2020 12:05am

RLNG-fired power plants: Inquiry against IPPs may hamper sell-off process?

Minister for Privatisation Muhammad Mian Soomro has warned the government that an inquiry against Independent Power Producers (IPPs) may hamper privatisation of RLNG-fired power plants, well-informed sources told Business Recorder.

Published 20 May, 2020 12:05am

All PSM employees being retrenched: chairman

Board of Directors (BoD) of Pakistan Steel Mills (PSM) Chairman Aamir Mumtaz has said that all employees of dysfunctional steel mill are being retrenched as every passing month adds a loan of Rs 2 billion.

Published 20 May, 2020 12:05am

PSEs: PM seeks details of 'illegal' recruitments

The Prime Minister, Imran Khan, has sought details of "illegal" recruitments in public-sector entities (PSEs) from various ministries and divisions.

Published 20 May, 2020 12:05am

Covid-19 deaths: Pakistan now the 19th most-affected country

Pakistan is now the 19th most-affected country by the coronavirus with 44,995 cases, while total Covid-19 deaths in Pakistan have reached 969.

Published 20 May, 2020 12:05am

PM's coronavirus package: There will be need for only Rs 519 billion extra funding: IMF

The International Monetary Fund (IMF) has stated that there will be need for only Rs 519 billion extra funding in the current fiscal year for Prime Minister's Relief Package of Rs 1.240 trillion for corona-affected sector.

Published 20 May, 2020 12:05am

Companies fear protracted slump: WEF

A prolonged global slump and surge in bankruptcies arising from the coronavirus pandemic are the foremost concerns for companies surveyed in a World Economic Forum report Tuesday.

Published 20 May, 2020 12:05am

Health sector: ADB approves $300m emergency aid loan

The Asian Development Bank (ADB) has approved a $300 million emergency assistance loan to strengthen Pakistan's public health response to the Covid-19 pandemic and help meet the basic needs of the vulnerable and poor segments of the society.

Published 20 May, 2020 12:05am

Provinces bound to follow federation's directions: SC

The Supreme Court on Tuesday ruled that the provinces are bound to comply with federation's directions on preventing menace on threat to the peace and life of people, including coronavirus pandemic.

Published 20 May, 2020 12:05am

WHO states agree to independent probe

World Health Organization member states agreed Tuesday to an independent probe into the UN agency's coronavirus response as US criticism mounted over its handling of the pandemic.

Published 20 May, 2020 12:05am

Import of drugs from India causes controversy

Prime Ministers' two top aides whose names are being mentioned as the main players in allowing import of cosmetics, vitamins and medicines under the garb of life-saving drugs from India, reportedly held a meeting with the pharmaceutical companies before a

Published 20 May, 2020 12:05am

Purchase of locally-procured inputs: PBEA seeks exemption from sales tax, FED

Pakistan Bedwear Exporters Association has asked for exemption from sales tax and federal excise duty (FED) on buying of locally procured input goods by exporters operating under the Export Oriented Units and Small and Medium Enterprises. The Federal Boar

Published 20 May, 2020 12:05am

8 Afghan soldiers killed

Eight Afghan soldiers were killed on Tuesday while repelling a fierce Taliban attack on Kunduz, a strategic city in northern Afghanistan that had briefly fallen to the militants twice in the past, officials said.

Published 20 May, 2020 12:05am

Payment of dues: APNS concerned at govt's indifference

The APNS expresses its dismay on federal government's consistent indifference to payment of media dues before Eid despite clear instructions by the Prime Minister Mr. Imran Khan.

Updated 21 May, 2020 05:15am

NASDAQ tells China's Luckin Coffee to delist

Luckin Coffee, a Starbucks competitor in China, said Tuesday it has been asked by NASDAQ to delist from the US stock exchange following a massive fraud scandal that has shaken the company.

Published 20 May, 2020 12:05am

Coronavirus issue used to create sectarian tensions: Ulema

The coronavirus pandemic has been used to stoke sectarian tensions and provoke people, said a joint press release from the Wafaq-ul-Madaris Al Arabia Pakistan on Tuesday.

Published 20 May, 2020 12:05am

Flour millers end strike

On the assurance of addressing their concerns by Punjab Food Minister Abdul Aleem Khan, the Pakistan Flour Mills Association (PFMA) announced on Tuesday to end their strike continued for the last two days.

Published 20 May, 2020 12:05am

PTI leaders demand Governor's rule on Sindh

Leaders of Pakistan Tehreek-e-Insaf (PTI) Sindh on Tuesday demanded Governor's rule in the province and said that the provincial government has failed and the centre should intervene.

Published 20 May, 2020 12:05am

Diamer-Bhasha Dam: Wapda chief visits site to review arrangements

Following the award of contract for construction of main dam of Diamer Basha Dam Project last week, the Pakistan Water and Power Development Authority (Wapda) Chairman Lt Gen Muzammil Hussain (retd) Tuesday visited the project site to review on-ground arr

Published 20 May, 2020 12:05am

Letters

Covid-19: Walking over a right rope

If Pakistan follows the example of developed countries and implements a full lockdown, it might lead to disastrous consequences for Pakistan.

Published 20 May, 2020 12:05am

Articles

Coronavirus creates repair headache for oil and gas industry

The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia's Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say.

Published 20 May, 2020 12:05am

Articles

Economic policy choices beyond immediate crisis - I

The economic policy response to the coronavirus crisis by Pakistan has been significant. On the monetary policy side, the State Bank of Pakistan has taken aggressive action to loosen monetary conditions and provide desperately needed liquidity to business

Published 20 May, 2020 12:05am

Articles

Food security in the age of Covid-19

There never was any lockdown in the country's agricultural sector. And from the way the NCC and NCOC have been carrying out, their respective efforts over the last two months at meeting the challenges of Covid-19, it appears that for lack of enough testin

Published 20 May, 2020 12:05am

Accepting the inevitable

Now that everybody is done experimenting with the lockdowns and the whole world feels compelled to open up once again it seems the time has come to accept the inevitable and understand that we are going to have to live with the coronavirus for some time t

Updated 20 May, 2020 02:26pm

Energy sector: lack of reforms

The Finance Ministry has reportedly agreed to convert 800 billion rupees parked in Power Holding Private Limited (PHPL) into public debt with a biannual review of the sector's performance as per a World Bank policy matrix loan condition. Those who may con

Updated 20 May, 2020 02:24pm

Moody's places 5 banks' ratings under review

Moody's Investors Service (Moody's) has placed five Pakistani banks' ratings under review for downgrade.

Published 20 May, 2020 12:05am

Business & Economy

Daraz, HBL enter deal to fuel growth in SME sector

Daraz and HBL have signed a strategic partnership agreement to enable the growth of Small and Medium Enterprises (SMEs) by inviting SMEs to set up online shops on Daraz, and avail HBL's extensive banking solutions to meet their financial needs. HBL is Pak

Published 20 May, 2020 12:05am

Cotton & Textile

Submission of incremental claims of DDT: PHMA seeks extension in cut-off date

Textile value-added sector has urged the government for extension in cut-off date for submission of incremental claims of duty drawback of taxes for fiscal year 2018-2019 till July 31, 2020.

Published 20 May, 2020 12:05am

Brief Recordings

Kohinoor Mills Limited

Kohinoor Mills Limited (PSX: KML) was established in 1987 as a public limited company. It started its operations as a small weaving unit and today stands with three business divisions of dyeing and finishing, weaving and energy. Its textile manufacturing

Updated 20 May, 2020 02:54am

6m people to be benefited from category-IV of EECP

Six million people would be provided one-time cash assistance of Rs 12,000 each under the newly added category-IV of Ehsaas Emergency Cash Programme (EECP) while the entire funding of this programme would come from the Prime Minister's Corona Relief Fund

Published 20 May, 2020 12:05am

Eid holidays

In modification of the Ministry of Interior's press release of even number dated 16 May 2020, it is notified for general information that 22 to 27 May, 2020 (Friday to Wednesday) have been declared as public holidays on the occasion of Eid-ul-Fitr, said a

Published 20 May, 2020 12:05am

Locust plague hits 53 districts across country

The locust plague has badly affected 53 districts across the country posing serious threat to standing crops in four provinces.

Published 20 May, 2020 12:05am

Pakistan rejects IOJ&K domicile law

Pakistan on Tuesday strongly condemned and completely rejected the Indian government's attempts to further deprive the people of Indian occupied Jammu and Kashmir (IOJ&K) through "Jammu and Kashmir Grant of Domicile Certificate (Procedure), 2020."

Published 20 May, 2020 12:05am

Two 'terrorists' shot dead in Lakki Marwat

Two alleged terrorists were shot dead in an encounter with the law enforcing agencies here on Tuesday. According to the police, the alleged encounter took place in Gandi Chowk, an area of Lakki Marwat. In the exchange of fire two alleged terrorists were

Published 20 May, 2020 12:05am

Sale of embassy's building in Jakarta: NAB to file reference against officials of MoFA

The National Accountability Bureau (NAB) on Tuesday decided to file a corruption reference against senior officers and officials of the Ministry of Foreign Affairs on charge of sale of Pakistan embassy's building in Jakarta in violation of rules and regul

Published 20 May, 2020 12:05am

Shopkeepers, customers asked to follow SOPs

The district administration on Tuesday warned traders and shopkeepers that in case of violation of standard operating procedures (SOPs) framed to control the pandemic; the coronavirus would rapidly spread in the city.

Published 20 May, 2020 12:05am

Shahbaz's name may be put on ECL: Rashid

Federal Minister for Pakistan Railways Sheikh Rashid Ahmed on Tuesday said that Leader of the Opposition in the National Assembly and Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif's case is very serious and putting his name on the Exit Con

Published 20 May, 2020 12:05am

Zafar for coordinated actions by world to curb coronavirus

The Special Assistant to the Prime Minister on National Health Services Dr Zafar Mirza on Tuesday called for coordinated, collective and sustained actions by the international community to curb deadly coronavirus, ease the burden on the health system and

Published 20 May, 2020 12:05am

PML-N MNA challenges notification for NFC constitution in IHC

A Pakistan Muslim League-Nawaz MNA has challenged the notification for constitution of the National Finance Commission (NFC) in the Islamabad High Court (IHC).

Published 20 May, 2020 12:05am

Budget proposals: UBG chief for fixed 'Covid-19 tax' on undocumented economy

United Business Group Chairman Iftikhar Ali Malik Tuesday proposed steps for the next fiscal budget 2020-21 to develop the national economy and help the industries grow.

Published 20 May, 2020 12:05am

PSQCA sets standards for sanitizer, disinfectant production

Pakistan Standards and Quality Control Authority (PSQCA) has developed a new standard on Sanitizers and disinfectants as per the guidelines of World Health Organization (WHO).

Published 20 May, 2020 12:05am

Sindh government opposes demand for governor's rule: minister

Sindh Information Minister Syed Nasir Hussain Shah on Tuesday vehemently opposed the demand for governor's rule in Sindh.

Published 20 May, 2020 12:05am

SHC grants pre-arrest bail to former PM

Sindh High Court (SHC) on Tuesday granted pre-arrest bail to former prime minister Shahid Khaqan Abbasi and former petroleum secretary Arshad Mirza in alleged illegal appointments in the Pakistan State Oil (PSO) case.

Published 20 May, 2020 12:05am

Covid-19 pandemic: Glass bangles industry plunges into serious crisis

Women in South Asia and especially in the subcontinent wear bangles with great enthusiasm in every religious and cultural festival. They decorate their hands with bangles according to their dress. This eagerness also provides employment to millions of peo

Published 20 May, 2020 12:05am

Sindh records highest number of deaths in 24 hours: Murad

Sindh Chief Minister Syed Murad Ali Shah Tuesday said that deaths due to coronavirus hit new highs on Tuesday as 19 patients lost their lives in just one day - the highest since the first death was reported on March 19.

Published 20 May, 2020 12:05am

Articles

Partly Facetious : No new taxes?

"Hafeez Sheikh says that there will be no new taxes in next year's budget."

Published 20 May, 2020 12:05am

Global Business Economy

US risks 'permanent damage' from long shutdown: Mnuchin

The US economy risks suffering "permanent damage" the longer the lockdown to contain the COVID-19 pandemic drags on, US Treasury Secretary Steven Mnuchin said Tuesday.

Published 20 May, 2020 12:05am

Global Business Economy

EasyJet reveals cyber attack on 9m clients

British airline EasyJet on Tuesday said it had suffered a "sophisticated" cyber attack, uncovering names and travel details of about nine million customers amid raised concerns over coronavirus-fuelled Internet hacking. "Since we became aware of the incid

Published 20 May, 2020 12:05am

Global Business Economy

Coronavirus hammers US homebuilding; permits tumble

US homebuilding dropped by the most on record in April and permits for future construction tumbled, underlining fears that the coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.

Published 20 May, 2020 12:05am

Global Business Economy

UK jobless claims surge by almost 70 percent

The number of Britons claiming jobless benefit surged in April by nearly 70 percent to 2.1 million people, as the labour market was plagued by coronavirus, official data showed Tuesday.

Published 20 May, 2020 12:05am

IT & Computers

Facebook chief wants EU not China to lead on tech rules

Facebook founder Mark Zuckerberg on Monday urged the European Union to take the lead in setting global standards for tech regulation or risk seeing countries follow China as a model.

Published 20 May, 2020 12:05am

Global Business Economy

China offers farmers cash to give up wildlife trade

Farmers in China are being offered cash to quit breeding exotic animals as pressure grows to crack down on the illegal wildlife trade that has been blamed for the coronavirus outbreak.

Published 20 May, 2020 12:05am

Commodities

India resumes purchases of Malaysian palm oil

Indian buyers have resumed purchases of Malaysian palm oil after a four-month gap following a diplomatic row, with buying spurred by a fall in domestic inventories and discounted prices, trade sources said.

Published 20 May, 2020 12:05am

Canada, US border closure extended

The Canada-US border will remain closed to all non-essential travel for another month, until June 21, to fight the spread of the coronavirus, Canadian Prime Minister Justin Trudeau announced Tuesday.

Published 20 May, 2020 12:05am

Trump says he is taking hydroxychloroquine

President Donald Trump on Monday made the surprise announcement that he is taking hydroxychloroquine, an anti-malaria drug that his own government experts say is not suitable for fighting the novel coronavirus.

Published 20 May, 2020 12:05am

Global Business Economy

UK blasts EU for 'low-quality' post-Brexit trade deal proposal

Britain on Tuesday accused the European Union of making a sub-standard offer in post-Brexit trade talks, as it urged Brussels to give ground on its proposals to strike a quick deal.

Published 20 May, 2020 12:05am

Four dead after earthquake in southwest China

Four people were killed and another 24 injured when an earthquake shook southwestern China, local authorities said Tuesday.

Published 20 May, 2020 12:05am

New Nepal map heightens territorial dispute with India

Nepal has drawn-up a new political map that includes strategically important territory it disputes with India, officials said Tuesday, as the Himalayan country takes a tougher stance against its giant neighbour.

Published 20 May, 2020 12:05am

Rocket hits near US embassy in Baghdad

One rocket hit near the US embassy in Baghdad early Tuesday morning, security sources told AFP, the first to land in the high-security zone in weeks.

Published 20 May, 2020 12:05am

Man abducted as child in China reunited with parents after 32 years

A Chinese man kidnapped as a toddler 32 years ago has been reunited with his biological parents, after police used facial recognition technology to help track him down.

Published 20 May, 2020 12:05am

Rubio named to lead Senate Intel Committee

Republican Senator Marco Rubio, a strong critic of China and Cuba, was named Monday to chair the powerful Senate Intelligence Committee while previous head Richard Burr is investigated in an insider trading scandal.

Published 20 May, 2020 12:05am

Court curbs German spies' foreign internet surveillance

Germany's foreign intelligence service violated the constitution by spying on internet data from foreigners abroad, the nation's top court ruled Tuesday in a victory for overseas journalists who brought the case.

Published 20 May, 2020 12:05am

Mayor assures people all-out support

The Mayor of Karachi, Wasim Akhtar, said on Tuesday that the local bodies' representatives are with the people in their difficult time and making all-out efforts to resolve their issues.

Published 20 May, 2020 12:05am

Business & Economy

'Relief given to businesses will yield positive results'

President of North Karachi Association of Trade and Industry (NKATI) Naseem Akhtar has expressed gratitude to Prime Minister Imran Khan, Finance Advisor Hafeez Sheikh, Planning Minister Asad Umar, Federal Minister Hammad Azhar and advisor on commerce and

Published 20 May, 2020 12:05am

Money & Banking

StanChart Pakistan posts Rs 8.8 billion profit before tax for 1Q20

Standard Chartered Bank (Pakistan) Limited has posted highest ever first quarter profit since the Bank's incorporation in Pakistan.

Published 20 May, 2020 12:05am

Sadia appeals for special prayers on 27th Ramazan

Sadia Rashid, President of Hamdard Foundation Pakistan, has appealed to the nation to offer special prayers on the 27th of Ramazan, in the wake of the Covid-19 pandemic which has badly affected the socioeconomic structure of the country as well as the wor

Published 20 May, 2020 12:05am

Business & Economy

Tractor industry seeks notification regarding subsidy

The tractor industry has appealed to the government to issue a notification of the subsidy urgently in order to revive the sales of the tractors in the country.

Published 20 May, 2020 12:05am

Business & Economy

Exporters demand cut in power tariff

Exporters have asked for cut in the power tariff following the global drop in oil prices, providing some relief to the industry.

Published 20 May, 2020 12:05am

Pakistan, China, Russia and Iran welcome Afghan deal

Pakistan, China, Russia and Iran have welcomed the political deal between Afghan President Ashraf Ghani and his political rival Abdullah Abdullah, and urged the foreign troops to withdraw in an orderly and responsible way so that the situation in Afghanis

Published 20 May, 2020 12:05am

Field Isolation Centre: Sindh CM admires people, army

Sindh Chief Minister Syed Murad Ali Shah appreciated Pakistani people and military who have come together to turn the Field Isolation Centre (FIC) as a project of supreme importance from paper to the reality.

Published 20 May, 2020 12:05am

Sindh government devoted to resolving water issue, says minister

Sindh Minister for Information & Local Government Syed Nasir Hussain Shah chaired a meeting on K-IV project Tuesday in the office of secretary local government.

Published 20 May, 2020 12:05am

Three Pakistani universities join efforts to fight Covid-19

Three Pakistani universities and other 54 universities in 11 countries from the South and Southeast Asian University Network (S&SE Asian UN) vowed on Tuesday to join efforts in fighting against the COVID-19, as the pandemic continues to spread across the

Published 20 May, 2020 12:05am

Welfare of people: OGDCL probing Rs3.2m amount transferred to DC Chakwal

DC Chakwal transferred an amount of Rs3.2 million in his own Punjab Bank Account No 1831562 allocated by the OGDCL for welfare and wellbeing of public of Chakwal.

Published 20 May, 2020 12:05am

CDWP approves six projects worth Rs16.11bn

The Central Development Working Party (CDWP) has approved as many as six projects at a cost of Rs16.11 billion, and recommended one project worth Rs25.23 billion to the Executive Committee of the National Economic Council (Ecnec) for approval.

Published 20 May, 2020 12:05am

Commodities

Rainfalls to help Ivorian cocoa mid-crop

Rainfall was still below average in most of Ivory Coast's cocoa growing regions last week but the arrival of downpours could help the April-to-September mid-crop, farmers said on Monday.

Published 20 May, 2020 12:05am

Commodities

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,994. The traded value of metals, energy and COTS/FX was recorded at PKR 8.292 billion and the number of lots traded was 18,083.

Published 20 May, 2020 12:05am

Commodities

Euronext wheat falls as market mulls weather news

Euronext wheat fell on Monday in step with Chicago as rain in the US Plains and the Black Sea region tempered concerns about harvest risks, despite signs of persisting dryness in Europe.

Published 20 May, 2020 12:05am

Energy

US natural gas futures jump over 10pc as output slows

US natural gas futures jumped over 10% on Monday on slowing output as energy firms shut wells and slash spending on new oil drilling after crude prices sank earlier this year due to coronavirus-led demand destruction. Those oil wells also produce a lot of

Published 20 May, 2020 12:05am

Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 70,950 tonnes of cargo comprising 47,946 tonnes of import cargo and 23,004 tonnes of export cargo including 2,641 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.

Published 20 May, 2020 12:05am

Cotton & Textile

Cotton business likely to resume after Eid holidays

Traders are hopeful that cotton trading will fully resume after Eid holidays.

Published 20 May, 2020 12:05am

Commodities

China's iron ore marks best day in 10 months

Dalian iron ore futures jumped as much as 7.5% on Monday as port inventory of the steelmaking raw material in China, the world's top steel producer, dropped to the lowest in more than three years, adding to concerns over supply.

Published 20 May, 2020 12:05am

Stocks

SE Asian stocks gain

Southeast Asian stock markets gained on Tuesday, with Thailand hitting its highest level in more than two months, as investors cheered positive data from an early-stage study testing a coronavirus vaccine.

Published 20 May, 2020 12:05am

Stocks

Major Middle East markets surge

Major Middle East stock markets closed higher on Tuesday, tracking a rise in global equities and a recovery in oil prices, with Saudi Arabia leading gains on the back of oil giant Saudi Aramco.

Published 20 May, 2020 12:05am

Stocks

China shares rise

China shares closed firmer on Tuesday, as data from an early-stage trial for a COVID-19 vaccine lifted hopes of a faster recovery from the pandemic-driven economic slump.

Published 20 May, 2020 12:05am

Stocks

Banks, telecoms drag European stocks lower

European shares lost some ground on Tuesday after a rally in the previous session, as falls for euro zone banks and telecoms stocks countered optimism from a stimulus plan for the European Union.

Published 20 May, 2020 12:05am

Stocks

Tuesday's early trade: S&P 500 trading flat

The S&P 500 was trading flat on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.

Published 20 May, 2020 12:05am

Stocks

S&P at 10-week high

US stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

Published 20 May, 2020 12:05am

Stocks

Tokyo shares hit 2-1/2 months high

Japanese stocks advanced in line with their Wall Street and Asian peers and hit a two-and-a-half-month high on Tuesday, as encouraging early-stage data for a potential coronavirus vaccine boosted hopes for a swift reopening of the global economy.

Published 20 May, 2020 12:05am

Money & Banking

UK mid-caps rise for third day

Britain's mid-cap index climbed for the third straight session on Tuesday on hopes of a speedy recovery from a coronavirus-fuelled recession, while more UK firms moved to shore up cash reserves to ride out the slump.

Published 20 May, 2020 12:05am

Money & Banking

Sterling recovers against dollar, euro

The pound was up 0.5% against the dollar on Tuesday, holding on to gains from overnight trading, and rose versus the euro - a small recovery relative to its recent seven-week lows.

Published 20 May, 2020 12:05am

Money & Banking

Asian currencies up

Most Asian currencies ticked higher against a weaker dollar on Tuesday after encouraging data from an early-stage trial for a coronavirus vaccine lifted sentiment towards risky Asian assets.

Published 20 May, 2020 12:05am

Money & Banking

Early trade in New York: Dollar weakens against euro

The US dollar edged lower against the euro on Tuesday as the common currency added to Monday's gains following news of a Franco-German proposal for a fund that would offer grants to European Union regions and sectors hit hardest by the coronavirus pandemi

Published 20 May, 2020 12:05am

Money & Banking

Euro rallies in Europe

The euro rallied on Tuesday, propelled by a Franco-German proposal on Monday for a fund that would offer grants to European Union regions and sectors hit hardest by the coronavirus pandemic.

Published 20 May, 2020 12:05am

SSGC's first Khulli Kacheri addresses customers' complaints

Adhering to the directives of Government of Pakistan for organizations working under the umbrella of Federal Government to convene Khulli Kacheri in accordance to the vision of Prime Minister Imran Khan, Sui Southern Gas Company held its first Khulli Kach

Published 20 May, 2020 12:05am

Clinical trial underway at AKU to cure Covid-19 patients

A new clinical trial evaluating the efficacy and safety of plasma therapy, an emerging form of treatment for the Covid-19, in Pakistan is underway at Aga Khan University.

Published 20 May, 2020 12:05am

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

Markets →

Budget 2024-25: income tax calculator for FY25

Most Popular