News Archives for Print - 2020-05-29

Print - 2020-05-29

Sugar industry: 'Why should Sindh CM record his statement?'

Sindh Information Minister Syed Nasir Hussain Shah Thursday said that political statements were being made by government circles on the sugar inquiry commission's report.

Published 29 May, 2020 12:05am

Secretive surveillance technology being used to track patients?

Pakistan's intelligence services are said to be deploying secretive surveillance technology normally used to locate militants to instead track coronavirus patients and the people they come into contact with.

Published 29 May, 2020 12:05am

Covid-19 must be dealt with globally: PM

Prime Minister Imran Khan on Thursday said that the Covid-19 is a global issue and must be dealt with globally, and emphasized the need that the help to developing world has to be much bigger than what has so far been envisaged.

Published 29 May, 2020 12:05am

US ends waivers for nations in Iran nuclear deal

The United States said Wednesday it was ending waivers in its sanctions for nations that remain in the Iran nuclear accord, bringing the deal further to the verge of collapse.

Published 29 May, 2020 12:05am

Formation of NFC challenged, notices issued

The Islamabad High Court (IHC) on Thursday issued notices to the federal government and others regarding the constitution of the National Finance Commission (NFC).

Published 29 May, 2020 12:05am

Refunds: FBR to facilitate five sectors' exporters in budget

The Federal Board of Revenue (FBR) Thursday assured Abdul Razak Dawood, Advisor to the Prime Minister on Commerce that the coming budget 2020-21 would facilitate exporters to expedite payment of sales tax refunds to the five leading export sectors includi

Published 29 May, 2020 12:05am

Budget 2020-21: Rs 216 billion subsidy for power sector likely

The federal government is likely to earmark Rs 216 billion subsidy for power sector, including Karachi-Electric (KE) in federal budget 2020-21, to be announced in the second week of June, well-informed sources told Business Recorder.

Published 29 May, 2020 12:05am

Budget to be presented on June 12

The Pakistan Tehreek-e-Insaf (PTI) government will present the budget 2020-2021 in the National Assembly on June 12 for discussion and approval, it has been learnt.

Published 29 May, 2020 12:05am

Tax base, other areas need attention: ADB

Pakistan has been experiencing fiscal and current account deficits, and continued efforts toward fiscal consolidation will be the key to sustaining improvements in macroeconomic stability, says the Asian Development Bank (ADB).

Published 29 May, 2020 12:05am

Stocks

KSE-100 Index depressed: BRIndex100 edges down

Pakistan Stock Exchange remained under pressure on the first day after long Eid holidays, weighed mainly by selling in various sectors.

Published 29 May, 2020 12:05am

Nissan plans to slash costs after first loss in 11 years

Nissan Motor Co outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years.

Published 29 May, 2020 12:05am

Many heirs handed over 'wrong bodies': Faisal Edhi

Chief of Edhi Foundation, Faisal Edhi Thursday revealed that wrong bodies have been handed to many heirs in the plane crash incident.

Published 29 May, 2020 12:05am

Provisional report will be made public on June 22

Aviation Minister Ghulam Sarwar on Thursday said that provisional investigation report of the PIA airplane crash will be made public on 22nd of next month.

Published 29 May, 2020 12:05am

Plane hit runway three times on first approach: minister

The captain of a Pakistani airliner that crashed last week, killing 97 people on board, approached Karachi airport without announcing he couldn't open his landing gear and hit the runway three times, a minister said on Thursday.

Published 29 May, 2020 12:05am

China parliament advances HK security law

China's parliament approved a decision on Thursday to go forward with national security legislation for Hong Kong that democracy activists in the city and Western countries fear could erode its freedoms and jeopardise its role as a global financial hub.

Published 29 May, 2020 12:05am

Experts say cut in NSS rates, oversubscription of Sukuk to provide financial space

A cut of 5.42 percent in the profit rates of National Savings Scheme (NSS) and a 70 percent oversubscription in the energy Sukuk would provide a financial space to the government for continuity of social protection in the current challenging times, said f

Published 29 May, 2020 12:05am

NEC meetings: Constitutional requirement met only once in 10 years

The constitutional requirement to hold National Economic Council (NEC) meetings twice a year was met only once, in the year 2018, during the last 10 years since the 18th Constitutional Amendment came into effect in 2010.

Published 29 May, 2020 12:05am

Condolence

The APNS expresses profound grief on the sad demise of the mother of Mohammad Saleem Baig former PIO and presently Chairman PEMRA. Hameed Haroon President and Sarmad Ali Secretary General of All Pakistan Newspapers Society in a joint statement have expres

Published 29 May, 2020 12:05am

Up to Rs 2 increase in power tariff likely

The government is all set to increase electricity tariff up to Rs 2 per unit under quarterly tariff adjustment mechanism for second and third quarter of current fiscal year

Published 29 May, 2020 12:05am

14 Afghan troops killed in 'Taliban attacks' after ceasefire ends

Fourteen members of the Afghan security forces were killed in two separate attacks Thursday in the first deadly assaults officials have blamed on the Taliban since the end of a three-day ceasefire.

Published 29 May, 2020 12:05am

Manila rice tender: REAP urges govt to make 'serious' efforts towards getting enlisted

Rice Exporters Association of Pakistan (REAP) has urged the federal government to make some concrete and serious efforts for enlisting in the international rice tender issued by Philippine government.

Published 29 May, 2020 12:05am

NAB reviews progress of cases against Zardari, the Sharifs

The National Accountability Bureau (NAB) Thursday reviewed the progress in the investigation of high-profile cases against former president Asif Ali Zardari, two former prime ministers - Nawaz Sharif and Shahid Khaqan Abbasi, Pakistan Muslim League-Nawaz

Published 29 May, 2020 12:05am

Forex reserves down $20m

The country's total liquid foreign exchange reserves declined by $20 million during last week. According to the State Bank of Pakistan (SBP), total liquid foreign exchange reserves stood at $18.598 billion as on May 21, 2020 compared to $18.618 billion on

Published 29 May, 2020 12:05am

Media campaign: Rs 40 million grant approved by ECC

The Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant Rs 40 million to meet expenditure on media campaign for "Chota Karobar-O-Sannat Imadadi Package" announced for Small and Medium Enterprises (SMEs), well-

Published 29 May, 2020 12:05am

Letters

Post-coronavirus world

Most of the developed nations will move out of the current coronavirus pandemic crisis soon because of good governance, strong financial bases and political harmony. They are cooperating with each other in this hour of crisis. The problems will remain in

Published 29 May, 2020 12:05am

Articles

Alibaba extends its reach in China as coronavirus outbreak opens doors

Alibaba Group Holding Ltd is emerging as one of China's biggest corporate winners of the coronavirus crisis, gaining the opportunity to expand its businesses and solidify its status as a critical part of the country's socio-economic engine.

Published 29 May, 2020 12:05am

Articles

Global policy post-Covid-19

There were already discussions gaining momentum since the Global Financial Crisis 2007/08 in many policy corners of economy and politics globally - but still remained far from reaching any meaningful threshold in terms of consequences on three main areas

Updated 13 Jun, 2020 09:49pm

Articles

Budgets 2020 amid Covid-19 crisis - III: Fiscal challenges and 18th Amendment

The failure to tap the actual tax potential by the federal and provincial governments is the real issue and not the Constitution (Eighteenth Amendment) Act, 2010 [hereinafter "18th Amendment"] vis-à-vis the National Finance Commission (NFC) Award. Dismal

Updated 21 Jun, 2020 01:38pm

Addressing an accountability inconsistency

In an unanticipated move, Prime Minister Imran Khan has ordered all advisers and special assistants in his cabinet to declare their assets. That should help fix a significant anomaly. As it is all members of the federal and provincial assemblies, some of

Published 29 May, 2020 12:05am

Sugar inquiry report

The salient points of the sugar inquiry report were revealed in a press conference led by Barrister Shahzad Akber, Special Assistant to the Prime Minister on Accountability which, sadly, indicated a complete lack of understanding of the way trade and indu

Published 29 May, 2020 12:05am

Articles

Tripartite social dialogue

According to ILO's definition, Social Dialogue means the practice of Tripartism between governments and the representative organizations of workers and employers to achieving solutions and to building up social cohesion and the rule of law through, among

Published 29 May, 2020 12:05am

Brief Recordings

An interview with Moazzam Khan, ex-Director General, Marine Fisheries Department 'Our post-harvest losses are 90 percent'

Moazzam Khan, one of the leading fisheries scientists of the country, has been associated with the fisheries research and administration since 1973. He previously served as the Director General of Marine Fisheries Department for more than a decade. Under

Updated 29 May, 2020 02:59am

Covid-19 affects 136 more in Islamabad

The number of Covid-19 cases reported in the federal capital on Wednesday rose to 2,015 after another 136 tested positive in a single day.

Published 29 May, 2020 12:05am

Daniel Pearl case: SC will start hearing appeals against SHC judgment from June 1

The Supreme Court will start hearing appeals against the Sindh High Court judgment to acquit the accused involved in murder of Daniel Pearl, bureau chief of Wall Street Journal (WSJ) in Pakistan from Monday (June 1).

Published 29 May, 2020 12:05am

Covid-19 cases surpass 62,000 mark in country

Pakistan's Covid-19 cases have surpassed 62,000 mark following Sindh and Punjab collectively reported over 2,000 cases in the past 24 hours.

Published 29 May, 2020 12:05am

Rain with dust storm likely: NDMA advises depts to remain alert

The National Disaster Management Authority (NDMA) has advised all federal and provincial departments concerned to remain alert as rains with dust thunderstorm are expected from Thursday to next Tuesday across the country.

Published 29 May, 2020 12:05am

Journalist dies of Covid-19 in Peshawar

A local journalist Fakharuddin Syed has passed away due to coronavirus infection here on Thursday, leaving behind his family members and colleagues from media industry in a state of extreme shock and grief.

Published 29 May, 2020 12:05am

Pakistan to remain vigilant of Indian ambitions: Qureshi

Foreign Minister Shah Mahmood Qureshi Thursday said that the current security situation in the region underscores the compulsion for Pakistan to remain ever vigilant for more traditional threat to national security emanating from hegemonistic ambitions of

Published 29 May, 2020 12:05am

Shibli terms nuclear capability as guarantee of security

As there were no grand celebrations to mark Yaum-e-Takbeer due to Covid-19 pandemic, Federal Minister for Information and Broadcasting Shibli Faraz on Thursday reiterated that nuclear capability was the guarantee of country's security and safety.

Published 29 May, 2020 12:05am

Taliban resume talks with Afghan government

Taliban announced resumption of talks with Afghan government Thursday following recent confidence building measures for advancing the peace process such as US President Donald Trump's renewed resolve for military withdrawal, Taliban's unilateral and tempo

Published 29 May, 2020 12:05am

1103 tested positive, 16 more succumbed to Covid-19: CM

Sindh Chief Minister Syed Murad Ali Shah, sharing daily situation report of coronavirus, said that 1103 new cases have been detected by testing 4101 samples, while 16 more patients died during the last 24 hours lifting the death toll to 396.

Published 29 May, 2020 12:05am

Plane crash victims: Murad calls for expediting process of bodies' identification

Sindh Chief Minister Syed Murad Ali Shah visited the Sindh Forensic DNA and Serology Laboratory at the University of Karachi and pressed the staff there to expedite the process of identification of the bodies of the victims of the Airbus A320 crash.

Published 29 May, 2020 12:05am

Business & Economy

'Business activities to continue as per notified timings'

The business activities all over Sindh will continue to operate as usual till May 31 as per directions of the Supreme Court of Pakistan.

Published 29 May, 2020 12:05am

Covid-19 lockdown: CM assures traders he will present their point of view in NCC meeting

Sindh Chief Minister Syed Murad Ali Shah has assured the traders community that he would present their point of view regarding lifting of lockdown in the next National Coordination Committee meeting.

Published 29 May, 2020 12:05am

Cockpit voice recorder of PK-8303 found after six days

The cockpit voice recorder of the unfortunate A320 aircraft of Pakistan International Airlines (PIA) has been found under debris after six days.

Published 29 May, 2020 12:05am

Business & Economy

There will be chaos if businesses are not allowed to reopen: Motiwala

Former president of the KCCI and patron of the SITE Association of Industry (SAI) Zubair Motiwala and President SAI Suleman Chawla have demanded of the federal and provincial governments to ease the lockdown, open all industrial and commercial activities

Published 29 May, 2020 12:05am

War crimes in IOK: Pakistan urges UNSC to hold India accountable

Pakistan has called on the UN Security Council to intervene and hold India accountable for its grave breaches of international humanitarian law and war crimes in the occupied Jammu and Kashmir, and to take steps to settle the decades-old dispute.

Published 29 May, 2020 12:05am

Cotton & Textile

'Textile export sector at edge of disaster'

Pakistan Readymade Garments Manufacturers & Exporters (PRGME) chairman (Central)Shaikh Shafiq Jhokwala and chairman (South Zone) Amir Amin Kothawala have stated that the value added textile export sector has reached to the edge of disaster due to severes

Published 29 May, 2020 12:05am

Global Business Economy

Amazon offers permanent jobs to 125K temp hires

Amazon on Thursday said it is offering permanent jobs to 125,000 of the temporary workers hired to handle surging use of its online shopping service due to the pandemic.

Published 29 May, 2020 12:05am

Global Business Economy

Brazil loses 5m jobs as pandemic slams economy

Brazil shed five million jobs in the first quarter as Latin America's biggest economy felt the first effects of the economic shock caused by the coronavirus pandemic, figures showed Thursday.

Published 29 May, 2020 12:05am

Global Business Economy

French jobless total surged 22.6 percent in April

The number of people in France looking for jobs surged in April by 22.6% to a record high as a nationwide coronavirus lockdown shut down swathes of the economy, Labour Ministry data showed on Thursday.

Published 29 May, 2020 12:05am

Global Business Economy

Kuwait Airways to lay off 1,500 foreign employees

State-owned Kuwait Airways said Thursday it will lay off 1,500 expatriate employees due to "significant difficulties" caused by the coronavirus pandemic.

Published 29 May, 2020 12:05am

Global Business Economy

American Airlines to cut 30pc of management staff

American Airlines will cut 30 percent of its management and support staff in its latest belt-tightening move during the prolonged COVID-19 downturn, the company disclosed Thursday.

Published 29 May, 2020 12:05am

Money & Banking

Lebanon adopts law to lift banking secrecy for officials

Lebanon's parliament Thursday adopted a law to lift banking secrecy for public officials including over corruption or funding "terrorism", a lawmaker said, after months of protests in the crisis-hit country.

Published 29 May, 2020 12:05am

Global Business Economy

US weekly jobless claims drop, but economic recovery still elusive

The number of Americans seeking jobless benefits fell for an eighth straight week last week, likely as some people returned to work, but claims remained at astonishingly high levels, suggesting it could take the economy a while to rebound as businesses re

Published 29 May, 2020 12:05am

Indonesia starts cloud seeding to keep forest fires at bay

Indonesia has started cloud seeding to induce rain as the archipelago moves to head off annual forest fires blamed for blanketing swathes of Southeast Asia in toxic haze.

Published 29 May, 2020 12:05am

Germany calls in Russian envoy, seeks sanctions over hacking

Germany's foreign ministry on Thursday called in the Russian ambassador to discuss possible sanctions over a 2015 hacking attack on the German parliament, in an escalating diplomatic row.

Published 29 May, 2020 12:05am

US issues Palestinian territories security alert

The US embassy in Israel issued a security alert for the Palestinian territories on Thursday, amid increased tensions over the Jewish state's plans to annex parts of the occupied West Bank.

Published 29 May, 2020 12:05am

World's officially oldest man dies in UK aged 112

The world's oldest man, according to the Guinness World Records, has died from cancer in Britain at the age of 112, his family confirmed on Thursday.

Published 29 May, 2020 12:05am

Britain closes embassy in North Korea, evacuates diplomats

Britain has shuttered its embassy in North Korea and all its diplomats have left the country, its ambassador said Thursday as Pyongyang maintains strict entry controls to try to prevent a coronavirus outbreak.

Published 29 May, 2020 12:05am

Angry US protests for second night over police killing of black man

Fires continued to burn and one person was dead in Minneapolis Thursday after a second night of angry protests over the police killing of an African American man while in custody.

Published 29 May, 2020 12:05am

After silence, Trump marks 100,000 virus deaths in US

President Donald Trump on Thursday marked the "sad milestone" of 100,000 coronavirus deaths in the United States, after his earlier silence prompted criticism that he was failing in his duty to console victims and their loved ones.

Published 29 May, 2020 12:05am

France further eases lockdown, as others reimpose distancing measures

France said Thursday it would reopen its famed bars and restaurants - with restrictions - following months of coronavirus closures, as countries elsewhere reimposed distancing measures amid an uptick in cases.

Published 29 May, 2020 12:05am

PTI govt ignores 'Youm-e-Takbir': PML-N leader

It is an historic tragedy as present government ignored "Yom-e-Takbeer" when Pakistan had exploded atomic bomb.

Published 29 May, 2020 12:05am

Shibli terms Shehbaz 'daddy of sugar mafia'

Dubbing Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif "daddy" of sugar mafia, Minister for Information and Broadcasting Shibli Faraz on Thursday said that the government would take the case to its logical end at all costs.

Published 29 May, 2020 12:05am

APTOF demands relaxation in taxes, other charges

All Pakistan Transport Owners Federation (APTOF) has asked the federal and provincial governments to announce relaxation in taxes and other charges imposed on transport sector to save the sector from unemployment.

Published 29 May, 2020 12:05am

Hot, humid weather likely in Karachi

Weather in Karachi is expected to remain hot and humid in the next 24 hours, the Met Office said on Thursday.

Published 29 May, 2020 12:05am

Pakistan restored balance of power in region on May 28, 1998: ISPR

Paying rich tribute to the scientists and engineers who transformed Pakistan into a nuclear state, Director General of Inter-Services Public Relations (ISPR) Major Gen Babar Iftikhar said that the country had restored balance of power in the region on May

Published 29 May, 2020 12:05am

Commodities

Wheat flour prices sky-rocketing

Wheat flour price has suddenly jumped by Rs220 per 20 kg bag from Rs760 per bag ex-mill price to Rs980 per bag, traders told Business Recorder here on Thursday.

Published 29 May, 2020 12:05am

Cricket

Ex-cricketers Bradburn, Saqlain get important roles in PCB

The Pakistan Cricket Board (PCB) Thursday announced the appointments of Grant Bradburn as Head of High Performance Coaching and Saqlain Mushtaq as Head of International Player Development as part of the prestigious High Performance Centre's restructuring.

Published 29 May, 2020 12:05am

Stocks

Retail investors: SECP revises procedure for allocation of shares

The Securities and Exchange Commission of Pakistan (SECP) has revised procedure for allocation of shares to retail investors on public offer of securities by issuers i.e. companies, special purpose vehicles and body corporate.

Published 29 May, 2020 12:05am

Serving Hands, Combined Efforts distribute food ration, Eid clothes among poor

Serving Hands Organization and Combined Efforts Organization continued their ongoing project "Covid-19 Eid Package Rashan Camps" at Pir Bukhsh Goth Ghani Abad and surrounding villages.

Published 29 May, 2020 12:05am

Articles

Partly Facetious : Nawaz too relied on spiritual guidance

"What is Zardari sahib's legacy, do you reckon?"

Published 29 May, 2020 12:05am

Commodities

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,050.

Published 29 May, 2020 12:05am

Commodities

Key Brazil port resumes loading of grains

Loading of grains and other products at the port of Paranaguá, Brazil's second largest, resumed normally on Wednesday after a case of COVID-19 paralyzed work in berth 214 for about 24 hours, according to the port authority.

Published 29 May, 2020 12:05am

Commodities

Canadian canola futures fall

ICE Canadian canola futures dipped on Wednesday, giving up gains after a Canadian judge ruled against a Chinese executive held in an extradition case.

Published 29 May, 2020 12:05am

Business & Economy

Activities of Karachi Port

The Karachi Port handled 48,298 tonnes of cargo comprising 32,938 tonnes of import cargo and 15,360 tonnes of export cargo including 1,970 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Published 29 May, 2020 12:05am

Commodities

Euronext wheat falls to one week low

Euronext wheat touched one week low on Wednesday as widespread rain expected in Black Sea exporting countries Russia and Ukraine eased concerns about dry weather damage to wheat crops.

Published 29 May, 2020 12:05am

Commodities

CBOT soyabean futures hit two-week high

US soyabean futures scaled to a two-week peak on Wednesday on slower-than-expected US plantings and forecasts for more rain in some parts of the Midwest and a longer term dry spell in others.

Published 29 May, 2020 12:05am

Energy

Asia's naphtha crack hits one month high

Asia's naphtha crack hit fresh one month high of $44.10 a tonne on Wednesday, as strong demand for the fuel persisted.

Published 29 May, 2020 12:05am

Energy

US natural gas futures fall on lower demand

US natural gas futures were little changed on Wednesday with a decline in exports and demand, despite a slowdown in output.

Published 29 May, 2020 12:05am

Commodities

Germany's second largest sugar refiner cuts losses

Germany's second largest sugar refiner Nordzucker reported reduced losses on Wednesday and said it hopes to return to profit in its new financial year as easing coronavirus lockdowns stabilise sugar prices and demand.

Published 29 May, 2020 12:05am

Cotton & Textile

Cotton spot rate remains unchanged

Trading activity starts in the cotton market after the Eid holidays.

Published 29 May, 2020 12:05am

Commodities

US corn futures edge higher

US corn futures edged higher on Wednesday as rainy conditions around the Midwest slowed the brisk pace of planting, but gains were capped by continued concerns about soft demand and ample supplies of the grain.

Published 29 May, 2020 12:05am

Commodities

Chinese steel rebar futures extend fall

Chinese steel rebar futures extended falls into a fourth session on Wednesday, dragged by worries over consumption due to rains in the southern parts of the country.

Published 29 May, 2020 12:05am

Stocks

Australian shares up, New Zealand down

Australian shares hit a two-and-a-half-month high on Thursday, with financial stocks powering the gains, after the country's central bank said the economic downturn due to the coronavirus crisis would likely be less severe than initially feared.

Published 29 May, 2020 12:05am

Stocks

China stocks surge

China shares ended firmer on Thursday as investors anticipated further policy support from the ongoing Chinese parliamentary meeting, but gains were curbed amid a standoff between Washington and Beijing over a new Hong Kong security law.

Published 29 May, 2020 12:05am

Stocks

Nikkei vaults past 200-day average

Japan's Nikkei share average jumped on Thursday, vaulting above a key technical resistance of its 200-day moving average, on hopes of a quick economic normalisation, with investors snatching up deeply discounted stocks such as financials.

Published 29 May, 2020 12:05am

Stocks

European stocks rise

European shares rose for a fourth straight session on Thursday, as optimism over businesses returning to work and stimulus for the battered euro zone economy outweighed rising US-China tensions.

Published 29 May, 2020 12:05am

Stocks

Thursday's early trade: S&P 500 drifts higher

Wall Street's major indexes rose on Thursday, boosted by gains in healthcare and technology stocks, as investors hoped for a swift economic recovery from a coronavirus-driven economic slump.

Published 29 May, 2020 12:05am

Stocks

Wall Street rises; bank stocks jump

US stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.

Published 29 May, 2020 12:05am

Stocks

Dubai, Abu Dhabi fall

Stock markets in Dubai and Abu Dhabi retreated on Thursday, while other major Middle Eastern bourses, including Saudi Arabia, were closed for the Eidul-Fitr holiday.

Published 29 May, 2020 12:05am

Stocks

SE Asian markets gain

Most Southeast Asian markets ended higher on Thursday, led by Indonesia, as optimism over economies reopening from coronavirus-induced lockdowns overshadowed concerns about flaring Sino-US tensions over Hong Kong.

Published 29 May, 2020 12:05am

Stocks

FTSE 100 up as AstraZeneca, GSK climb

UK shares ended higher on Thursday, helped by drugmakers AstraZeneca and GSK as markets looked for more progress in the development of a COVID-19 vaccine, while optimism over the reopening of the economy persisted.

Published 29 May, 2020 12:05am

Money & Banking

Asian forex: Most units hit by HK woes; won drops

The South Korean won weakened on Thursday after the central bank cut its policy rate to a record low and downgraded 2020 growth forecast, while most other Asian currencies also slipped as Sino-US tensions over Hong Kong escalated.

Published 29 May, 2020 12:05am

Money & Banking

Sterling rises against weaker dollar

The pound rose around half a percent against a weaker dollar on Thursday, but was little changed against the euro, as Brexit-related risks and speculation about negative interest rates continue to limit the pound's gains.

Published 29 May, 2020 12:05am

Money & Banking

Early trade in New York: Dollar keeps falling against euro

The US dollar fell against the euro for the third straight day on Thursday as the common currency continued to bask in the glow of the recently announced 750 billion-euro ($828.90 billion) coronavirus recovery fund amid improved risk appetite, leading inv

Published 29 May, 2020 12:05am

Money & Banking

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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