News Archives for Print - 2024-06-06

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Print - 2024-06-06

Stocks

Asset classes: PSX urges govt to remove tax-driven distortions

KARACHI: Pakistan Stock Exchange (PSX) has proposed to the federal government to remove the tax-driven distortions...

Published 06 Jun, 2024 03:09am

Companies

Prospective PIA bid: Arif Habib says amount should go into core company as capital

KARACHI: Arif Habib, chief executive of the group that is one of the six entities which pre-qualified for the...

Published 06 Jun, 2024 03:09am

IK’s post on X: Omar slaps legal notice on FIA for summoning him

ISLAMABAD: The opposition leader in the National Assembly Omar Ayub on Wednesday slapped the Federal Investigation...

Published 06 Jun, 2024 03:09am

There’s no ban on court reporting, remarks IHC

ISLAMABAD: The Islamabad High Court (IHC), Wednesday, remarked that there is no ban on court reporting; rather ban ...

Published 06 Jun, 2024 03:09am

PARTLY FACETIOUS: ‘Some poodles are more equal than others…’

“So, what is with the debates between Starmer and Sunak?” “Well, you can’t accuse the British of doing a...

Published 06 Jun, 2024 03:09am

JUI-P says joining TTAP

ISLAMABAD: Jamiat Ulema-e-Islam-Pakistan (JUI-P) on Wednesday formally announced to join the coalition of six...

Published 06 Jun, 2024 03:09am

Dissenting note: Public cannot be deprived of access to court proceedings: Justice Minallah

ISLAMABAD: Justice Athar Minallah said the public cannot be deprived of access to the court proceedings through live...

Published 06 Jun, 2024 03:09am

ECC approves Rs54m for ICT agri projects

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved Rs54.490 million for the Islamabad...

Published 06 Jun, 2024 03:09am

Stocks

China and HK stocks close down despite upbeat service activity data

SHANGHAI: China stocks closed down on Wednesday, dragged lower by consumer and property shares, despite an ...

Published 06 Jun, 2024 03:09am

Stocks

European shares gains, led higher by tech stocks

FRANKFURT: European shares gained on Wednesday, led by technology stocks including Dutch semiconductor equipment...

Published 06 Jun, 2024 03:09am

Rs60m penalties on 2 firms: IHC upholds decision of SECP appellate bench

ISLAMABAD: The Islamabad High Court has upheld the decision of the Appellate Bench of the Securities and Exchange...

Published 06 Jun, 2024 03:09am

Sarim Burney arrested over child trafficking charges

ISLAMABAD: Social activist Sarim Burney was arrested by the Anti-Human Trafficking Police upon his arrival in ...

Published 06 Jun, 2024 03:09am

Lebanon border: Netanyahu says Israel ‘prepared for very intense operation’

OCCUPIED JERUSALEM: Prime Minister Benjamin Netanyahu said Wednesday that Israel was “prepared for a very intense...

Published 06 Jun, 2024 03:09am

South Africa’s ANC leans towards unity govt but meets resistance

JOHANNESBURG: The African National Congress is leaning towards trying to form a government of national unity for...

Published 06 Jun, 2024 03:09am

World hits streak of record temperatures as UN warns of ‘climate hell’

BRUSSELS/GENEVA: Each of the past 12 months ranked as the warmest on record in year-on-year comparisons, the EU’s...

Published 06 Jun, 2024 03:09am

Stocks

Saudi Arabia joins BIS- and China-led central bank digital currency project

LONDON: Saudi Arabia has joined a China-dominated central bank digital currency cross-border trial, in what could be...

Published 06 Jun, 2024 03:09am

Pakistan-US match at Grand Prairie Cricket Stadium in Dallas today

LAHORE: Pakistani skipper Babar Azam will be hoping it is third time lucky for him when he captains Pakistan in the...

Published 06 Jun, 2024 03:09am

‘QS World University Rankings’ PU declared most-improved Asian varsity in last 5 years

LAHORE: The QS World University Rankings has declared Punjab University as the most-improved university in Asia in...

Published 06 Jun, 2024 03:09am

President for building ‘technology highways’ in country

ISLAMABAD: President Asif Ali Zardari has emphasised the need for building “technology highways” in the country...

Published 06 Jun, 2024 03:09am

AFP journalists to strike over expat jobs

PARIS: Journalists at AFP will hold a 24-hour strike starting Thursday at 0800 GMT to protest against potential...

Published 06 Jun, 2024 03:09am

Russians discussing with SIFC wide range of trade ties

ISLAMABAD: Russians are reportedly engaged with Special Investment Facilitation Council (SIFC) to discuss avenues of...

Updated 06 Jun, 2024 09:13am

US House passes bill to sanction ICC over Israel

WASHINGTON: The Republican-led US House of Representatives passed legislation that would impose sanctions on the...

Published 06 Jun, 2024 03:09am

Controversial tweet case: IHC bars FIA from taking action against PTI leaders

ISLAMABAD: The Islamabad High Court (IHC), Wednesday, restrained the Federal Investigation Agency (FIA) from taking...

Published 06 Jun, 2024 03:09am

NA budget session begins today

ISLAMABAD: The National Assembly budget 2024-25 session will be held today (Thursday). President Asif Ali Zardari...

Updated 06 Jun, 2024 08:39am

World’s richest have never been so wealthy: study

PARIS: The world has never had so many rich people and their investments in soaring stock markets have made them...

Published 06 Jun, 2024 03:09am

The Weather

KARACHI: The weather report on Wednesday (June 05, 2024) and the forecast for Thursday (June 06, 2024)...

Published 06 Jun, 2024 03:09am

The burgeoning burden of capacity payments

As Pakistan prepares for a significant increase in electricity prices next year, driven by further rupee devaluation...

Published 06 Jun, 2024 03:09am

People’s Bus Service: new routes announced

KARACHI: The Government of Sindh has decided to start new routes for the People’s Bus Service in Malir, Kemari,...

Published 06 Jun, 2024 03:09am

Letters

Welcome increase in exports

It is heartening to note that the country’s exports increased by 10.65 per cent ($2.702 billion) to $28.070 ...

Published 06 Jun, 2024 03:09am

Court reserves verdict on Gillani’s acquittal plea

ISLAMABAD: A local court, on Wednesday, reserved its verdict on Pakistan Peoples Party (PPP) leader Ali Haider...

Published 06 Jun, 2024 03:09am

Probe begins into death of Foreign Service officer

ISLAMABAD: The Establishment Division has initiated an inquiry to investigate the circumstances surrounding Dr Diyar...

Published 06 Jun, 2024 03:09am

Sadiq visits Iranian embassy to condole death of Raisi

ISLAMABAD: Speaker of the National Assembly Sardar Ayaz Sadiq on Wednesday visited the Iranian Embassy in Islamabad...

Published 06 Jun, 2024 03:09am

Revisiting govt jobs

“Permanent jobs with absolute job security have made the government officers complacent. It has brought great...

Published 06 Jun, 2024 03:09am

Should we not prevent heat islands and flooding in Karachi?

Over my dead body! Don’t you dare stop my delivery vans driving directly to my shop! The year was 2019 and Haji...

Published 06 Jun, 2024 03:09am

Attacks against journalists: CPJ urges Pakistan for swift probe

NEW YORK: Pakistan authorities must immediately investigate the attacks against journalists Haider Mastoi, Khan...

Published 06 Jun, 2024 03:09am

Govt committed to the uplift of the poor: Nawaz

LAHORE: PML-N President Nawaz Sharif said on Wednesday that they will uplift workers economically, while good time...

Published 06 Jun, 2024 03:09am

Wapda initiates legal cases against societies for using its name unlawfully

LAHORE: Water and Power Development Authority (Wapda) has initiated legal proceedings against those cooperative...

Published 06 Jun, 2024 03:09am

Use of plastic shopping bags banned in Punjab

LAHORE: Senior Minister Punjab Maryam Aurangzeb on Wednesday announced to ban single-use plastic and shopping bags...

Published 06 Jun, 2024 03:09am

World Environment Day celebrated by SEF

KARACHI: A large number of children gathered at an event for World Environment Day to spread the message that the...

Published 06 Jun, 2024 03:09am

Cigarette consumption: Pakistan witnesses significant dip: survey

ISLAMABAD: Pakistan has witnessed a significant dip in cigarette consumption due to its high prices, according to a...

Published 06 Jun, 2024 03:09am

Industrialists threaten to launch protest drive if killers not arrested

KARACHI: Industrialists have demanded the law and order authorities to arrest the killers behind the assassination ...

Published 06 Jun, 2024 03:09am

Rs520m approved for paeds cardiac unit at NICVD

KARACHI: Sindh Chief Minister Syed Murad Ali Shah while presiding over the 82nd Governing Body meeting of the...

Published 06 Jun, 2024 03:09am

Verdict on Hassan Niazi’s case reserved

ISLAMABAD: A local court on Wednesday reserved its verdict on Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan’s...

Published 06 Jun, 2024 03:09am

WMO warns against dangerous rise in global temperatures

KARACHI: The World Meteorological Organisation (WMO) has warned against a dangerous rise in global temperatures,...

Published 06 Jun, 2024 03:09am

Gaza conference: President accepts Jordan’s invitation

ISLAMABAD: President Asif Ali Zardari on Wednesday said that Pakistan and Jordan enjoyed close cordial relations and...

Published 06 Jun, 2024 03:09am

Controversial video: PTI chairman, spokesman appear before FIA

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) chairman Barrister Gohar Ali Khan and PTI’s spokesman Raoof Hasan...

Published 06 Jun, 2024 03:09am

Sindh and Balochistan : Many illegal SSGC gas connections removed, one held

KARACHI: On a tip off, SS&CGTO Operation Wing along with SSGC Police and Recovery Department conducted a joint...

Published 06 Jun, 2024 03:09am

Minister urges compliance to environmental laws

KARACHI: The Sindh government has assured that the provincial environmental watchdog will strengthen its operations...

Published 06 Jun, 2024 03:09am

Expo in PNCA inaugurated: NA Speaker lauds services of Jimmy Engineer

ISLAMABAD: National Assembly Speaker Sardar Ayaz Sadiq said the contribution of renowned artist and social worker...

Published 06 Jun, 2024 03:09am

Collective action urged to adapt to ‘new age of global warming’

ISLAMABAD: With temperatures already crossing 52 degrees Celsius in many parts of the country, the United Nations...

Published 06 Jun, 2024 03:09am

PTI founder reaping what he sowed: Bilawal

KARACHI: Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari said that the Pakistan Tehreek-e-Insaf ...

Published 06 Jun, 2024 03:09am

Pakistan may become UNSG non-permanent member

ISLAMABAD: Pakistan is likely to get elected as a non-permanent member of the UN Security Council for the eighth...

Published 06 Jun, 2024 03:09am

Vawda, Kamal press conferences: SC issues notices to TV channels

ISLAMABAD: The Supreme Court issued contempt notices to TV channels for broadcasting press conferences of Senator...

Published 06 Jun, 2024 03:09am

Rates

BRIndex100 and BR Sectoral Indices

KARACHI: BRIndex100 and BR Sectoral Indices on Wednesday (June 05, 2024). ==================================== BR...

Published 06 Jun, 2024 03:09am

Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Wednesday (June 05, 2024). ======================================= Offset...

Published 06 Jun, 2024 03:09am

Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (June 05, 2024)...

Published 06 Jun, 2024 03:09am

Rates

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 05, 2024)....

Published 06 Jun, 2024 03:09am

Forex

Kerb buying and selling rate of US dollar

KARACHI: Dollar buying and selling rate in the kerb market in rupees on Wednesday (June 05, 2024)....

Published 06 Jun, 2024 03:09am

Forex

Dollar's rate in interbank market

KARACHI: Interbank closing rates for dollar on Wednesday (June 05, 2024). ======================== Open Bid ...

Published 06 Jun, 2024 03:09am

Forex

Open market rates of foreign currencies

KARACHI: Open market rates of foreign currencies supplied by the Exchange Companies Association of Pakistan on...

Published 06 Jun, 2024 03:09am

Rates

Kibor interbank offered rates

KARACHI: Kibor interbank offered rates on Wednesday (June 05, 2024). ========================== KIBOR...

Published 06 Jun, 2024 03:09am

Forex

Currency values in terms of Special Drawing Rights

WASHINGTON: The International Monetary Fund (IMF), treasuries' department's currency values in terms of Special...

Published 06 Jun, 2024 03:09am

Rates

LME official prices

LONDON: The following were Tuesday official prices. ========================================= ALUMINIUM...

Published 06 Jun, 2024 03:09am

Commodities

Iron ore hits seven-week low

BEIJING: Iron ore futures extended their decline to a fifth straight session on Wednesday, hitting a seven-week...

Published 06 Jun, 2024 03:09am

Commodities

Wheat falls as US Plains harvest advances

CHICAGO: Chicago benchmark wheat futures fell for the sixth day in a row on Wednesday as progress in the US harvest...

Published 06 Jun, 2024 03:09am

Cotton & Textile

Market remains steady low volume

LAHORE: The local cotton market remained steady on Wednesday, with trading volume staying low. According to Cotton...

Published 06 Jun, 2024 03:09am

Cotton & Textile

Cotton spot rates

KARACHI: official KCA spot rates for local dealings in Pakistan rupees on Wednesday, (June 05, 2024)...

Published 06 Jun, 2024 03:09am

Energy

Oil eases as US crude, fuel stock builds bolster demand jitters

HOUSTON: Oil prices edged lower on Wednesday as a surprise build in US crude stocks and larger-than-expected rise in...

Published 06 Jun, 2024 03:09am

Commodities

Gold rises after softer US jobs data

NEW YORK: Gold prices gained on Wednesday as bond yields fell after weaker-than-expected US private payrolls data...

Published 06 Jun, 2024 03:09am

Energy

US natural gas prices up 2pc on recent drop in daily output

NEWYORK: U.S. natural gas futures edged up about 2% on Wednesday on a decline in daily gas output after higher ...

Published 06 Jun, 2024 03:09am

Commodities

EU wheat falls

PARIS: Euronext wheat fell for a third session on Wednesday as traders focused on Black Sea competition in large...

Published 06 Jun, 2024 03:09am

Commodities

PMEX daily trading report

KARACHI: On Tuesday at PMEX, the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 22.023...

Published 06 Jun, 2024 03:09am

Commodities

Japan rubber futures fall

TOKYO: Japanese rubber futures fell on Wednesday, as data showed surprising weakness in US business activity, ...

Published 06 Jun, 2024 03:09am

Commodities

Ukraine’s waterborne food exports 5.9m tons in May: brokers

KYIV: Ukraine’s overall waterborne food exports totaled 5.9 million metric tons in May including 5.1 million tons...

Published 06 Jun, 2024 03:09am

Rates

Activities of Karachi Port

KARACHI: The Karachi Port handled 129,079 tonnes of cargo comprising 64,397 tonnes of import cargo and 64,682 tonnes...

Published 06 Jun, 2024 03:09am

Stocks

Indian shares surge as Modi’s allies pledge support to form govt

BENGALURU: Indian shares jumped over 3% on Wednesday, marking its best one-day gain in over three years after key...

Published 06 Jun, 2024 03:09am

Stocks

Tech stocks lift Nasdaq, S&P 500 as rate-cut expectations tick up

NEW YORK: Technology stocks led US indexes higher on Wednesday, as investors strengthened bets for an...

Published 06 Jun, 2024 03:09am

Energy

Pakistan Energy Conference 2024 held

ISLAMABAD: The Pakistan Energy Conference 2024 was held on Wednesday here at a local hotel with the theme,...

Published 06 Jun, 2024 03:09am

Rates

Bearish trend persists

KARACHI: A bearish trend continued on Pakistan Stock Exchange on Wednesday due to selling pressure as investors...

Published 06 Jun, 2024 03:09am

Commodities

Copper nears one-month low as real demand lags expectations

LONDON: Copper prices slid to near one-month lows on Wednesday, pausing their strongest rally in years as strong...

Published 06 Jun, 2024 03:09am

Commodities

Palm oil erases early gains to close lower

JAKARTA: Malaysian palm oil futures shed early gains to close lower for a second consecutive session on Wednesday, ...

Published 06 Jun, 2024 03:09am

Money & Banking

Asian currencies inch up

BENGALURU: Most emerging Asian currencies inched up as the dollar steadied on Wednesday and stocks were largely...

Published 06 Jun, 2024 03:09am

Money & Banking

Dollar gains after stronger services sector data

NEW YORK: The US dollar rose on Wednesday after data showed the services sector in the world’s largest economy...

Published 06 Jun, 2024 03:09am

Indian elections: a glimmer of hope?

EDITORIAL: Following the announcement of results of India’s parliamentary elections on June 4, many in Pakistan...

Published 06 Jun, 2024 03:09am

Injudicious use of development outlay

EDITORIAL: The disarray marring Pakistan’s development agenda was laid bare recently by the planning ministry as ...

Published 06 Jun, 2024 03:09am

Industry

FPCCI demands cut in policy rate, power tariffs

LAHORE: Zaki Aijaz, Regional Chairman and Vice President of the Federation of Pakistan Chambers of Commerce and...

Published 06 Jun, 2024 03:09am

Industry

Soft-core diplomacy a must to achieve prime objectives: FCCI chief

FAISALABAD: Pakistan could achieve its prime political and economic objectives in the fast-changing global scenario...

Published 06 Jun, 2024 03:09am

Industry

CG reiterates support of Germany to women’s empowerment

KARACHI: Dr Ruediger Lotz, Consul General of Germany in Karachi, has reiterated Germany’s commitment to support...

Published 06 Jun, 2024 03:09am

Commodities

Gold prices fall

KARACHI: Gold prices on Wednesday lost its upward momentum slightly with silver inching down, traders said. At...

Published 06 Jun, 2024 03:09am

SBP governor chairs meeting on implementation of priority sector initiatives

KARACHI: The Governor State Bank of Pakistan (SBP), Jameel Ahmed, chaired the first Steering Committee meeting for...

Published 06 Jun, 2024 03:09am

Money & Banking

UBL extends Rs20bn finance facility to Engro Fertilizers

KARACHI: United Bank Limited (UBL) concluded a PKR 20 Billion bilateral finance facility for Engro Fertilizers...

Published 06 Jun, 2024 03:09am

Industry

Workshop held on green estate investment

KARACHI: Pakistan Banks’ Association (PBA), in partnership with the International Finance Corporation (IFC),...

Published 06 Jun, 2024 03:09am

PBS to conduct 7th agri census field operation from Aug

Commodities

Independent Power Producers express serious concerns regarding delays in SBP’s approval for conversion of PKR to USD in order to fulfil their commitments/ financial obligations

Updated 06 Jun, 2024 02:41pm

AGP office distances itself from ‘award in favour of SHPL’

ISLAMABAD: The Office of Attorney General for Pakistan is said to have distanced itself with respect to strategy to...

Updated 06 Jun, 2024 09:14am

Five-day China visit: PM vows security to investments, individuals

Highlights bilateral trade and investment potential, especially in key sectors

Updated 06 Jun, 2024 09:31am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 6	281.43
USD PKR Interbank Buying / May 6	281.23
USD to Japanese Yen / May 6	143.80
USD to Swiss Franc / May 6	0.82
Pound Sterling to USD / May 6	1.33
Euro to USD / May 6	1.13
UK LIBOR % / May 2	4.96

Stock	Volume
S&P 500 / May 5	5,650.38
Tokyo Nikkei / May 5	36,830.69
Nasdaq / May 5	17,844.24
Dow Jones / May 5	41,218.83
India Sensex / May 6	80,548.72
Hang Seng / May 6	22,677.57
FTSE 100 / May 6	8,609.62
Germany DAX 30 / May 6	23,276.83
France CAC40 / May 6	7,711.31

Item	Value
Karachi Cotton PKR/37.32 KG / May 5	16,985
Gold 10 Grams PKR / May 5	300,068
Crude Oil USD/Barrel / May 6	57.98
Gold Spot USD/Ounce / May 6	3,361.22
Cotton US¢/pound / May 6	68.15
Petrol/Litre / May 7	252.63
Diesel/Litre / May 7	256.64

Gainers
Losers
Leaders

Stock	Price
Invest Bank / May 6 Invest Capital Investment Bank Limited(ICIBL)	1.50 ▲ 0.2 (15.38%)
First Fid. Leasing / May 6 First Fidelity Leasing Modaraba(FFLM)	2.34 ▲ 0.3 (14.71%)
UDL International / May 6 UDL International Limited(UDLI)	7.95 ▲ 0.95 (13.57%)
Aruj Industries / May 6 Aruj Industries Limited(ARUJ)	8.76 ▲ 0.98 (12.6%)
Pak Gen.Ins. / May 6 The Pakistan General Insurance Co. Ltd.(PKGI)	9.86 ▲ 1 (11.29%)
Dewan Mushtaq / May 6 Dewan Mushtaq Textile Mills Limited(DMTM)	9.96 ▲ 1 (11.16%)
Dewan Textile / May 6 Dewan Textile Mills Limited(DWTM)	6.42 ▲ 0.62 (10.69%)
First Elite Cap.Mod / May 6 First Elite Capital Modaraba(FECM)	16.89 ▲ 1.54 (10.03%)
Power Cem(Pref) / May 6 Power Cement (Pref)(POWERPS)	16.80 ▲ 1.53 (10.02%)
Olympia Mills / May 6 Olympia Mills Limited(OML)	36.28 ▲ 3.3 (10.01%)

Stock	Price
Reliance Ins. / May 6 Reliance Insurance Company Limited(RICL)	10.49 ▼ -6.31 (-37.56%)
First AL-Noor Mod. / May 6 First Al-Noor Modaraba(FANM)	2.75 ▼ -0.34 (-11%)
At-Tahur Ltd. / May 6 At-Tahur Limited(PREMA)	58.40 ▼ -6.49 (-10%)
Bunnys Limited / May 6 Bunnys Limited(BNL)	28.04 ▼ -3.11 (-9.98%)
Sui South Gas / May 6 Sui Southern Gas Company Limited(SSGC)	36.08 ▼ -3.95 (-9.87%)
Trust Sec.& Brok. / May 6 Trust Securities & Brokerage Limited(TSBL)	11.60 ▼ -1.27 (-9.87%)
Diamond Ind. / May 6 Diamond Industries Limited(DIIL)	21.79 ▼ -2.12 (-8.87%)
Paramount Mod / May 6 First Paramount Modaraba(FPRM)	7.59 ▼ -0.66 (-8%)
Tri-Star Mutual / May 6 Tri-Star Mutual Fund Limited(TSMF)	8.26 ▼ -0.71 (-7.92%)
Leather Up Ltd. / May 6 Leather Up Limited(LEUL)	28.31 ▼ -2.39 (-7.79%)

Stock	Volume
Sui South Gas / May 6 Sui Southern Gas Company Limited(SSGC)	54,325,421 ▼ -3.95
K-Electric Ltd. / May 6 K-Electric Limited(KEL)	42,259,616 ▲ 0.22
Dewan Cement / May 6 Dewan Cement Limited(DCL)	26,185,745 ▼ -0.29
Kohinoor Spining / May 6 Kohinoor Spinning Mills Limited(KOSM)	17,455,731 ▲ 0.35
At-Tahur Ltd. / May 6 At-Tahur Limited(PREMA)	16,513,681 ▼ -6.49
Maple Leaf Cement / May 6 Maple Leaf Cement Factory Limited(MLCF)	15,288,695 ▼ -1.4
D.G.K.Cement / May 6 D.G. Khan Cement Company Limited(DGKC)	11,352,512 ▼ -2.72
WorldCall Telecom / May 6 Worldcall Telecom Limited(WTL)	10,597,193 ▼ -0.01
Power Cement / May 6 Power Cement Limited(POWER)	8,852,134 ▼ -0.51
Pak Refinery / May 6 Pakistan Refinery Limited(PRL)	8,766,270 ▼ -0.03

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