News Archives for Print - 2023-09-11

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Print - 2023-09-11

Need stressed to boost trade with ASEAN member countries

KARACHI: Pakistan has very cordial relations with the Association of East Asian Nations (ASEAN) member countries;...

Published 11 Sep, 2023 07:35am

Structural reforms termed a must for economic revival

KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and...

Published 11 Sep, 2023 07:31am

Sindh Premier League: PCB issues NOC

KARACHI: Sindh Premier League President Arif Malik, along with former provincial minister of Sindh Syed Nasir ...

Published 11 Sep, 2023 07:27am

Energy

Sindh govt decides to launch crackdown against power theft

KARACHI: The Caretaker Sindh government has decided to launch a crackdown against electricity theft across the...

Published 11 Sep, 2023 07:24am

Cotton & Textile

Weekly Cotton Review: Spot rate declines on fall in New York cotton prices

KARACHI: Unprecedented fluctuation of Rs 3,000 per maund in the rate of cotton was seen previous week. There was a...

Published 11 Sep, 2023 07:23am

Speakers underscore need for abolishing distinction between filer and non-filer

ISLAMABAD: The speakers at the Pakistan Institute of Development Economics (PIDE) conference on Sunday said that the...

Published 11 Sep, 2023 07:21am

Industry

‘Pakistan needs to invite all reputable multinational seed cos’

LAHORE: Pakistan needs to invite all the reputable multinational seed companies with cutting-edge technologies and a...

Published 11 Sep, 2023 07:14am

Industry

Chinese investors meet Chairman FIEDMC

FAISALABAD: Chairman FIEDMC Mian Muhammad Anas Jaan, CEO Muhammad Tanveer Jabbar had a special meeting with Chinese...

Published 11 Sep, 2023 07:12am

The energy quagmire

When something sounds too good to be true, it usually is. ‘Increase electricity consumption to lower the...

Published 11 Sep, 2023 07:00am

Rating agencies and Pakistan’s response

There are three major international credit rating agencies providing investors information about bond and debt...

Published 11 Sep, 2023 06:54am

Left behind

EDITORIAL: In its latest review report on the Sustainable Development Goals (SDGs) 2030, which replaced the...

Published 11 Sep, 2023 06:49am

Biden holds highest-level talks with Chinese leadership in months

HANOI: US President Joe Biden said on Sunday he held his highest-level direct talks with Chinese leadership in ...

Published 11 Sep, 2023 06:32am

US, Vietnam agree to deepen ties as China worries grow

HANOI: US President Joe Biden hailed closer ties with Vietnam on Sunday as the two countries struck a deal to deepen...

Published 11 Sep, 2023 06:32am

Troops kill 7 terrorists in Chitral

RAWALPINDI: An intense fire exchange took place between Pakistani security forces and terrorists in the general area...

Published 11 Sep, 2023 06:32am

KP Health Dept overcomes dengue fever challenge

PESHAWAR: The efforts of the Health Department and cooperation of the people helped decline in the number of dengue...

Published 11 Sep, 2023 06:32am

Energy

Massive crackdown launched to combat power theft

ISLAMABAD: A massive crackdown has been launched by the Caretaker Government to combat the alarming surge in power...

Published 11 Sep, 2023 06:32am

Bugti vows action against criminal elements

ISLAMABAD: Caretaker Federal Minister for Interior Sarfraz Ahmad Bugti said that no effort should be spared in...

Published 11 Sep, 2023 06:32am

Taskforce to determine sizes of govts: PM

ISLAMABAD: Prime Minister Anwaar-ul-Haq Kakar Sunday said a taskforce headed by the finance minister would determine...

Published 11 Sep, 2023 06:32am

Karabakh sovereign territory of Azerbaijan: FO

ISLAMABAD: Pakistan considered Karabakh as the sovereign territory of the Republic of Azerbaijan and any attempt to...

Published 11 Sep, 2023 06:32am

G20 summit: Ashrafi dispels propaganda surrounding MBS’s visit to India

ISLAMABAD: Pakistan Ulema Council Chairman Hafiz Muhammad Tahir Mahmood Ashrafi on Sunday addressed the concerns and...

Published 11 Sep, 2023 06:32am

Mushaal urges G20 to help end HR abuses in IIOJK

ISLAMABAD: Special Assistant to Prime Minister on Human Rights and Women Empowerment Mushaal Hussein Mullick urged...

Published 11 Sep, 2023 06:32am

FEM Consortia launched in KPK

PESHAWAR: A FEM Consortia was launched in Khyber Pakhtunkhwa to promote women’s right and gender equality in the...

Published 11 Sep, 2023 06:32am

Agriculture and Allied

Onion crop protection: PHDEC organises seminar to address fungal and bacterial threats

TANDO ALLAH YAR: In response to the alarming decline of onion crops in regions including Tando Allah Yar and ...

Published 11 Sep, 2023 06:32am

ICAP and ICAEW strengthen partnership to advance accounting profession

KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) represented by President M Ali Latif and the...

Published 11 Sep, 2023 06:32am

PTI wins GBLA 13-Astore by-election

GILGIT: Pakistan Tehreek-e-Insaf (PTI) has won the by-election to GBLA 13-Astore. According to an unofficial result...

Published 11 Sep, 2023 06:32am

Punjab cabinet to meet today

MULTAN: For the very first time, the Punjab government’s cabinet meeting will be convene in the city on Monday,...

Published 11 Sep, 2023 06:32am

Research culture in healthcare urged

ISLAMABAD: Caretaker Minister for National Health Services Dr Nadeem Jan has emphasised on promoting the culture of...

Published 11 Sep, 2023 06:32am

Bilawal praises Sharjeel Memon

HYDERABAD: The Chairman of the People’s Party (PPP), Bilawal Bhutto Zardari, praised the people of Hyderabad,...

Published 11 Sep, 2023 06:32am

USAID-funded HESSA official visits SAU

HYDERABAD: USAID-funded HESSA project representative and program manager of student support service visited Sindh...

Published 11 Sep, 2023 06:32am

Letters

Country needs structural reforms

This is apropos a Business Recorder op-ed “Broadening the tax net: A solution to taxation woes?” carried by the...

Published 11 Sep, 2023 06:32am

Six killed in Sheikhupura bus accident

SHEIKHUPURA: At least six people were killed and more than 50 injured when a bus turned turtle near Khanka Dogran...

Published 11 Sep, 2023 06:32am

CPJRC, GIKI sign MoU

PESHAWAR: The China-Pakistan Joint Research Centre on Earth Sciences (CPJRC) in China and the Ghulam Ishaq Khan...

Published 11 Sep, 2023 06:32am

Sales tax blues

Given rampant sales tax evasion and slowdown in consumer demand, the government is highly unlikely to meet its...

Published 11 Sep, 2023 06:32am

Europe

Two dead, four injured in Hungary air show crash

BUDAPEST: A plane crashed during an air show in Hungary on Sunday, leaving two people dead and four injured,...

Published 11 Sep, 2023 06:32am

Middle East

Gaza exports to Israel resume as crossing reopens

GAZA CITY (Palestinian Territories): Gaza Strip exports to Israel resumed Sunday as Israel reopened a trade ...

Published 11 Sep, 2023 06:32am

Stocks

China stocks close down as investor optimism wanes

SHANGHAI: China stocks closed down on Friday, as investor optimism toward the world’s second-largest economy waned...

Published 11 Sep, 2023 06:32am

2023-24 domestic cricket season starts

LAHORE: The 2023-2024 domestic seasons started on Sunday with Lahore Whites facing Lahore Blues at Gaddafi ...

Published 11 Sep, 2023 06:32am

Nilofer for proactive role of media to mitigate GBV issue

ISLAMABAD: Chairperson National Commission on the Status of Women (NCSW) Nilofer Bakhtiar said media can...

Published 11 Sep, 2023 06:32am

New flaw in Apple devices led to spyware infection, researchers say

NEW YORK: Researchers at digital watchdog group Citizen Lab said on Thursday they found spyware they linked to...

Published 11 Sep, 2023 06:32am

Stocks

Nasdaq gets SEC nod for first exchange AI-driven order type

NEW YORK: Nasdaq Inc. on Friday said it won approval from the US Securities and Exchange Commission to launch the...

Published 11 Sep, 2023 06:32am

66,864 candidates appear in MDCAT

LAHORE: As many as 66,864 candidates including 45,121 females and 21,743 males appeared in the Medical and Dental...

Published 11 Sep, 2023 06:32am

Rates

Automart: car prices in Karachi

Rates in the week ended Sunday September 10, 2023

Published 11 Sep, 2023 06:32am

Rates

YOUR RUPEE LAST MONTH

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last month (August 1 to...

Published 11 Sep, 2023 06:32am

Rates

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last week. (September 4 to...

Published 11 Sep, 2023 06:32am

The Weather

KARACHI: The weather report on Sunday (September 10, 2023) and the forecast for Monday (September 11, 2023)....

Published 11 Sep, 2023 06:32am

Caretakers likely to ease the woes of power sector

The Power Division proposes implementation on 'old proposed measures with new words' to the caretaker government with the assertion that now failure is no option

Updated 11 Sep, 2023 10:00am

Smuggling of Iranian oil into Pakistan: 90 govt officials, 29 politicians found involved

ISLAMABAD: Pakistan is facing loss of more than Rs60 billion annually due to smuggling of more than 2.81 billion...

Updated 11 Sep, 2023 10:16am

‘Massive’ crackdown on hoarders, smugglers announced

ISLAMABAD: Caretaker Federal Minister for Interior Sarfaraz Ahmed Bugti announced to launch a massive crackdown on...

Updated 11 Sep, 2023 08:37am

Rates

PSX witnesses positive trend

KARACHI: Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on September 08, 202 on the...

Published 11 Sep, 2023 06:32am

Rates

Futures spread up 175bps

KARACHI: The futures spread increased by 175bps to 17.59 percent on the last day of the outgoing week. Trading...

Published 11 Sep, 2023 06:32am

Unchallenged tax demand case: FTO waiting for tax officials’ response

ISLAMABAD: The Federal Tax Ombudsman (FTO) is waiting for the response of the Federal Board of Revenue (FBR), Chief...

Updated 11 Sep, 2023 09:05am

Judges, armed forces’ personnel exempted from NAO: AGP

ISLAMABAD: Attorney General for Pakistan (AGP) Mansoor Awan has contended that the National Accountability Ordinance...

Updated 11 Sep, 2023 09:31am

Four held as IR Intelligence busts ‘fake sales tax invoice mafia’

ISLAMABAD: Inland Revenue Intelligence Directorate Karachi has busted an inter-province gang of fake/ flying sales...

Updated 11 Sep, 2023 08:39am

MoITT not yet ready to launch Starlink internet services

ISLAMABAD: Although Caretaker Prime Minister Anwaar-ul-Haq Kakar has given a go-ahead to the Ministry of Information...

Updated 11 Sep, 2023 09:42am

Chinese investor seeks fast-track forum for getting justice

ISLAMABAD: A Chinese investor, deceived by his Pakistani partners, has requested Pakistani authorities/ regulators...

Updated 11 Sep, 2023 09:06am

PPP’s allies may be running away from elections: Bilawal

KARACHI/HYDERABAD: PPP Chairman Bilawal Bhutto-Zardari said on Sunday it may be the case that his party’s allies in...

Updated 11 Sep, 2023 09:34am

Rates

PKR appreciates 0.83pc

KARACHI; The rupee appreciated 0.83% against the US dollar in the inter-bank market during the previous week, but...

Published 11 Sep, 2023 06:32am

Power pilferers: IESCO detects 105 meters, imposes Rs7.567m fine

ISLAMABAD: On the directives of the government, the Islamabad Electric Supply Company (IESCO) has expedited drive...

Updated 11 Sep, 2023 09:07am

Martyred policemen: Steps being taken for welfare of heirs

LAHORE : On the directions of Inspector General Police Punjab Dr Usman Anwar, priority measures are being taken for...

Updated 11 Sep, 2023 08:36am

Energy

SSGC announces zero tolerance for gas thieves

KARACHI: The Sui Southern Gas Company (SSGC) has announced zero tolerance for gas theft to save every single unit of...

Published 11 Sep, 2023 06:32am

Energy

Grand operation against electricity theft in FESCO region launched

FAISALABAD: Grand Operation against electricity theft is going on in all eight districts of FESCO region. More than...

Published 11 Sep, 2023 06:32am

Cut in taxes on real estate to help attract foreign investment: ICCI

ISLAMABAD: Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) has called upon the...

Published 11 Sep, 2023 06:32am

Industry

Sugar mills: LCCI urges govt to re-introduce track- and-trace system

LAHORE: Welcoming the steps being taken by the government to discourage the smuggling of sugar, the Progressive ...

Published 11 Sep, 2023 06:32am

Industry

Exhibition of handmade carpets: Buyers from 25 countries to participate: PCMEA

LAHORE: Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Senior Vice Chairman Usman Ashraf said that...

Published 11 Sep, 2023 06:32am

Economic update and outlook for Aug

EDITORIAL: The Economic Update and Outlook for August 2023 uploaded on the Finance Division website ended as always...

Published 11 Sep, 2023 06:32am

Commodities

Prices of essential food items depict a mixed trend

PESHAWAR: Mixed trend in prices of essential food commodities, including sugar, flour, vegetables, pulses and others...

Published 11 Sep, 2023 06:32am

Energy

KE removes 17,500 hooks in Korangi

KARACHI: K-Electric (KE) has removed the maximum number of hooks from the Korangi area, with a count of 17,500,...

Published 11 Sep, 2023 06:32am

Global business activity showed signs of slowdown in August

LONDON: Global business activity largely slowed further last month as services firms struggled in the face of weak...

Published 11 Sep, 2023 06:32am

Ukraine’s reserves at nearly $40.4bn as of Sept 1

KYIV: Ukraine’s foreign currency reserves slipped to nearly $40.4 bln as of Sept. 1, the central bank said on...

Published 11 Sep, 2023 06:32am

Ukraine’s GDP grows by 2.2pc in January to July 2023

KYIV: Ukraine’s gross domestic product grew by 2.2 percent year-on-year in the first seven months of 2023, the...

Published 11 Sep, 2023 06:32am

China to launch new $40bn state fund to boost chip industry

HONG KONG/BEIJING: China is set to launch a new state-backed investment fund that aims to raise about $40 billion ...

Published 11 Sep, 2023 06:32am

Money & Banking

Dollar flat, but on track for eight straight weeks of gains

NEW YORK: The dollar was little changed on Friday, consolidating gains amassed during the week on...

Published 11 Sep, 2023 06:32am

Energy

Oil prices rise to 9-month high

NEW YORK: Oil prices gained almost 1% to a nine-month high on Friday on rising US diesel futures and worries about...

Published 11 Sep, 2023 06:32am

Commodities

Gold edges up as dollar rally cools

NEW YORK: Gold ticked up on Friday buoyed by a slight retreat in the dollar, while investors hunkered down for more...

Published 11 Sep, 2023 06:32am

Cotton & Textile

Commissioner orders implementation of ‘Clean Cotton Programme’ in toto

FAISALABAD: Divisional Commissioner Madam Silwat Saeed has directed the agriculture department to ensure...

Published 11 Sep, 2023 06:32am

Money & Banking

US banks hold $3.3 trillion cash amid banking crisis, slowdown worries

NEW YORK/SAN FRANCISCO: US lenders are holding onto large piles of cash as insurance against a slowing economy,...

Published 11 Sep, 2023 06:32am

Roots of country’s debilitating debt trap highlighted

KARACHI: Pasban Democratic Party (PDP) Chairman Altaf Shakoor has said that Pakistan needs a deep reform program in...

Published 11 Sep, 2023 06:32am

Industry

Torkham border closure causes huge losses to traders

PESHAWAR: The abrupt closure of Pak-Afghan Torkham border has caused huge losses to traders, said Syed Jawad Hussain...

Published 11 Sep, 2023 06:32am

Industry

All set for livestock, agri-fisheries expo in Peshawar

PESHAWAR: Preparations are in full swing for the International Livestock Agri-Fisheries Expo, which will be held on...

Published 11 Sep, 2023 06:32am

Industry

CM, LCCI president for promoting industrial growth in Punjab

LAHORE: In a meeting between the Lahore Chamber of Commerce and Industry President, Kashif Anwar, and the Caretaker...

Published 11 Sep, 2023 06:32am

Companies

GM offers 10pc wage hike in UAW contract talks

WASHINGTON: General Motors said on Thursday it has offered workers a 10% wage hike and two additional 3% annual lump...

Published 11 Sep, 2023 06:32am

Companies

Kroger takes $1.4bn charge to settle opioid claims

NEW YORK: Kroger on Friday took a $1.4-billion charge related to a nationwide opioid settlement in the quarter and...

Published 11 Sep, 2023 06:32am

Companies

TSMC says Arizona plant making ‘fast progress’

TAIPEI: Taiwan chip giant TSMC’s planned factory in the United States was making “fast progress”, the...

Published 11 Sep, 2023 06:32am

Companies

Crisis-hit NatWest picks Haythornthwaite as chairman

LONDON: NatWest has chosen former Mastercard chairman Rick Haythornthwaite as its next chair, the bank said on...

Published 11 Sep, 2023 06:32am

Companies

China’s Alibaba says Daniel Zhang quits cloud business in surprise move

SHANGHAI: China’s Alibaba Group said on Sunday that Daniel Zhang will step down from its cloud business, in a...

Published 11 Sep, 2023 06:32am

Companies

SoftBank’s Arm aims for over $52bn valuation in biggest US IPO of the year

LONDON: SoftBank Group’s Arm is seeking a valuation of more than $52 billion in its initial public offering, the...

Published 11 Sep, 2023 06:32am

Companies

Nestlé says saves water by implementing drip irrigation, smart soil moisture sensors

KARACHI: Nestlé Pakistan is transforming ways the use water of in its production and has also initiated many...

Published 11 Sep, 2023 06:32am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 17	278.75
USD PKR Interbank Buying / Jan 17	278.65
USD to Japanese Yen / Jan 17	156.30
USD to Swiss Franc / Jan 17	0.92
Pound Sterling to USD / Jan 17	1.22
Euro to USD / Jan 17	1.03

Stock	Volume
S&P 500 / Jan 17	5,996.66
India Sensex / Jan 17	76,619.33
Tokyo Nikkei / Jan 17	38,451.46
Nasdaq / Jan 17	19,630.20
Hang Seng / Jan 17	19,584.06
FTSE 100 / Jan 17	8,505.22
Dow Jones / Jan 17	43,487.83
Germany DAX 30 / Jan 17	20,903.39

Item	Value
Crude Oil USD/Barrel / Jan 17	78.88
Karachi Cotton PKR/37.32 KG / Jan 17	18,785
Gold 10 Grams PKR / Jan 17	242,283
Gold Spot USD/Ounce / Jan 17	2,703.25
Cotton US¢/pound / Jan 17	67.60
Petrol/Litre / Jan 18	256.13

Gainers
Losers
Leaders

Stock	Price
Burj Clean Energy Modaraba / Jan 17 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.60 ▲ 1.00 (15.15%)
S.G.Power / Jan 17 S.G. Power Limited(SGPL)	9.51 ▲ 1.00 (11.75%)
Jahangir Sidd(Pref) / Jan 17 Jahangir Sidd(Pref)(JSCLPSA)	10.50 ▲ 1.00 (10.53%)
AN Textile Mill / Jan 17 AN Textile Mills Limited(ANTM)	12.82 ▲ 1.17 (10.04%)
Jah.Sidd. Co. / Jan 17 Jahangir Siddiqui & Co. Ltd.(JSCL)	23.62 ▲ 2.15 (10.01%)
Agritech Non-voting / Jan 17 Agritech Non-Voting Preference(AGLNCPS)	24.20 ▲ 2.20 (10.00%)
Arif Habib Ltd. / Jan 17 Arif Habib Limited(AHL)	66.21 ▲ 6.02 (10.00%)
Bilal Fibres / Jan 17 Bilal Fibres Limited(BILF)	15.95 ▲ 1.45 (10.00%)
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	77.09 ▲ 7.01 (10.00%)

Stock	Price
JS Global Banking / Jan 17 JS Global Banking Sector (ETF)(JSGBETF)	19.77 ▼ -2.75 (-12.21%)
First Capital Equities / Jan 17 First Capital Equities Limited(FCEL)	5.35 ▼ -0.72 (-11.86%)
Tariq Corp.Pref. / Jan 17 Tariq Corporation Limited-Preference Shares(TCORPCPS)	7 ▼ -0.88 (-11.17%)
Service Textile / Jan 17 Service Industries Textiles Limited(SERT)	14.98 ▼ -1.66 (-9.98%)
Gulshan Sp. / Jan 17 Gulshan Spinning Mills Limited(GSPM)	4.01 ▼ -0.43 (-9.68%)
Zahid Jee Textile / Jan 17 Zahidjee Textile Mills Limited(ZAHID)	27.51 ▼ -2.70 (-8.94%)
Mandviwala / Jan 17 Mandviwala Mauser Plastic Industries(MWMP)	21.50 ▼ -2.00 (-8.51%)
Universal Ins. / Jan 17 The Universal Insurance Company Limited(UVIC)	9.23 ▼ -0.65 (-6.58%)
Tata Textile / Jan 17 Tata Textile Mills Limited(TATM)	47.10 ▼ -2.80 (-5.61%)

Stock	Volume
WorldCall Telecom / Jan 17 Worldcall Telecom Limited(WTL)	103,704,415 ▲ 0.01
Cnergyico PK / Jan 17 Cnergyico PK Limited(CNERGY)	37,108,232 ▲ 0.04
Hub Power Co. / Jan 17 The Hub Power Company Limited(HUBC)	36,743,585 ▲ 5.79
Hascol Petrol / Jan 17 Hascol Petroleum Limited(HASCOL)	32,265,861 ▲ 0.83
Dewan Motors / Jan 17 Dewan Farooque Motors Limited(DFML)	28,402,498 ▲ 2.84
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	24,195,904 ▲ 7.01
Pak Refinery / Jan 17 Pakistan Refinery Limited(PRL)	17,625,081 ▲ 0.94
Fauji Foods Ltd / Jan 17 Fauji Foods Limited(FFL)	16,675,539 ▲ 0.30
K-Electric Ltd. / Jan 17 K-Electric Limited(KEL)	16,024,776 ▲ 0.09

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