News Archives for Print - 2024-08-05

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Print - 2024-08-05

The Weather

KARACHI: The weather report on Sunday (August 03, 2024) and the forecast for Monday (August 05, 2024)....

Published 05 Aug, 2024 08:30am

Industry

Permanent employment termed workers’ fundamental right

KARACHI: At the conclusion of a three-day protest camp held at Karachi Press Club against the contractual system,...

Published 05 Aug, 2024 08:26am

Taxes

Tax refunds to large taxpayer companies: FIA issues another notice to Member IR (Operation)

ISLAMABAD: Federal Investigation Agency (FIA) has issued another notice to Mir Badshah Khan Wazir Member Inland...

Published 05 Aug, 2024 08:24am

Visiting Chinese experts, CM KPK meet at Rashakai SEZ, discuss security

PESHAWAR: KP Chief Minister Sardar Ali Amin Khan Gandapur assured a Chinese delegation that the provincial ...

Published 05 Aug, 2024 08:22am

Armed forces pay tribute to valiant personnel of police

RAWALPINDI: On the occasion of Youm-e-Shuhada Police, the armed forces pay solemn tribute to the valiant personnel ...

Published 05 Aug, 2024 08:21am

Youm-e-Istehsal today

ISLAMABAD: The government announced on Sunday that Youm-e-Istehsal (Exploitation Day) would be observed today...

Published 05 Aug, 2024 08:20am

NDMA rings alarm bells over urban flooding risk in Karachi

ISLAMABAD: The National Disaster Management Authority (NDMA)’s National Emergencies Operation Centre anticipated...

Updated 05 Aug, 2024 11:17am

Sri Lanka needs to raise fiscal revenue to maintain stability: IMF

COLOMBO: Sri Lanka must make further efforts to raise fiscal revenue if it is to maintain economic stability and...

Published 05 Aug, 2024 07:59am

Middle East

Gaza civil defence says Israel strike on schools kills 30

GAZA STRIP: Gaza’s civil defence agency said an Israeli strike hit two schools in Gaza City on Sunday, killing at...

Published 05 Aug, 2024 07:51am

Power sector challenges beyond capacity payments

While the capacity payments to Independent Power Producers (IPPs) have grabbed major spot light these days, our...

Published 05 Aug, 2024 07:21am

GPCCI, BVMW sign MoU to enhance business ties

PESHAWAR: The German Pakistan Chamber of Commerce and Industry (GPCCI) and the German Association of Small and ...

Published 05 Aug, 2024 07:15am

ICCI delegation visits IMCB campus

ISLAMABAD: Director Colleges Federal Directorate of Education (FDE) and Principal Islamabad Model College for Boys...

Published 05 Aug, 2024 07:14am

Climate change impacting aquaculture production activities: expert

PESHAWAR: The rising global temperature and weather pattern due to climate change is impacting the aquaculture...

Published 05 Aug, 2024 07:04am

Bilawal seeks report on breach in Rohri Canal

KARACHI: Chairman of Pakistan People’s Party (PPP) Bilawal Bhutto Zardari on Sunday has taken notice of the breach...

Published 05 Aug, 2024 07:03am

Letters

‘Modi’s misplaced bravado and jingoism’

This is apropos a Business Recorder editorial “Modi’s misplaced bravado and jingoism” carried by the ...

Published 05 Aug, 2024 07:00am

Reserved seats: 2 judges raise important points in dissenting notes: Tarar

LAHORE: Federal Minister for Information and Broadcasting Attaullah Tarar said that two honourable judges of the...

Updated 05 Aug, 2024 08:43am

10-member task force on FBR digitalisation formed

ISLAMABAD: The Prime Minister has constituted a 10-member Task Force on digitalization of Federal Board of Revenue...

Updated 05 Aug, 2024 09:07am

Middle East

Palestinian kills two people in Israel

HOLON, (Israel): A Palestinian attacker killed two people and wounded two others in a stabbing spree in central...

Published 05 Aug, 2024 06:12am

Talks with BYC in doldrums?

GWADAR: District leader of National Party Ashraf Hussain on Sunday left negotiating team constituted for talks with...

Published 05 Aug, 2024 06:12am

Women cricket trials: PCB to conduct trials in 14 cities from today

LAHORE: The Pakistan Cricket Board (PCB) in an effort to unearth talent at the grassroots level is all set to...

Published 05 Aug, 2024 06:12am

Sindh governor serves meal to participants of JI protest

KARACHI: Sindh Governor Kamran Khan Tessori has instructed that sit-in protesters from Jamaat-e-Islami be offered...

Published 05 Aug, 2024 06:12am

Minister reviews performance of maritime entities

KARACHI: Qaiser Ahmed Sheikh, Minister for Maritime Affairs, chaired a performance review meeting here to assess the...

Published 05 Aug, 2024 06:12am

Petrol shortage hits Quetta amid ongoing protests

QUETTA: The city of Quetta is experiencing a severe petrol shortage, causing significant inconvenience for ...

Published 05 Aug, 2024 06:12am

CM urges preparedness ahead of upcoming rain spells

KARACHI: Sindh Chief Minister Syed Murad Ali Shah has stated that although the current spell of rain has ceased, the...

Published 05 Aug, 2024 06:12am

Widespread power breakdown as Hyderabad receives rains

HYDERABAD: As Hyderabad received the first torrential downpour of the ongoing monsoon season starting on Saturday...

Published 05 Aug, 2024 06:12am

Tickets for Karachi Zoo, Safari Park can be purchased online: mayor

KARACHI: Mayor Karachi Barrister Murtaza Wahab has said that all departments of Karachi Metropolitan Corporation...

Published 05 Aug, 2024 06:12am

Senate body seeks copies of IPP agreements

Senator Mohsin Aziz says power sector has become a matter of national security and emergency

Updated 05 Aug, 2024 12:19pm

PM for accelerating FBR transformation

LAHORE: Prime Minister Shehbaz Sharif Sunday set a target for his economic team to speed up the process of...

Updated 05 Aug, 2024 03:33pm

Continuous supply of 150MMCFD RLNG to KE: SNGPL urges PPL to explore possibility

ISLAMABAD: The Sui Northern Gas Pipeline Company (SNGPL) has warned that less retention of Re-gasified Liquefied...

Updated 05 Aug, 2024 09:04am

ATIR rules: ‘Islamabad taxmen conducted proceedings in unprofessional way’

ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) has held that Islamabad tax officers have conducted tax...

Updated 05 Aug, 2024 09:06am

Balochistan could be hit by high- to very high-level flash floods

ISLAMABAD: The National Disaster Management Authority’s (NDMA) National Emergencies Operation Centre anticipated on...

Updated 05 Aug, 2024 08:51am

Rates

Marginal depreciation

KARACHI: The rupee decreased marginally during the previous week as it lost Re0.16 or 0.06% against the US dollar....

Published 05 Aug, 2024 06:12am

E-compliance for real-time integration: Taxpayers including those in 14 business categories will have to pay heavy cost

ISLAMABAD: Taxpayers including those in 14 categories of business enterprises would have to pay heavy cost for...

Updated 05 Aug, 2024 10:37am

Stocks

Wall Street Week Ahead: Flaring economic worries threaten US stocks rally

NEW YORK: Economic concerns are once again showing up on Wall Street’s radar, as worries grow that months of...

Published 05 Aug, 2024 06:12am

Stocks

Global stock sell-off pushes Indian rupee to record low

MUMBAI: The Indian rupee slipped to a record low on Friday, as local stocks declined tracking a global equity...

Published 05 Aug, 2024 06:12am

Stocks

FTSE 100 falls over 1pc amid global stock slump

LONDON: London stocks rounded the week off with heavy losses amid a global risk-off mood after a weak US jobs report...

Published 05 Aug, 2024 06:12am

Rates

PSX remains highly volatile

KARACHI: Pakistan Stock Exchange remained highly volatile throughout the outgoing week ended on August 02, 2024 due...

Published 05 Aug, 2024 06:12am

Rates

Futures spread up 765bps

KARACHI: The futures spread increased by 765bps to 16.97 percent on the last day of the outgoing week. Trading...

Published 05 Aug, 2024 06:12am

Fish mortality rate in Rawal Dam: CDA chief takes notice of increase

ISLAMABAD: The chairman Capital Development Authority (CDA) Muhammad Ali Randhawa on Sunday took notice of the...

Published 05 Aug, 2024 06:12am

Maryam’s message on Police Martyrs Day

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif in her message on the Police Martyrs Day said, “4th of August ...

Published 05 Aug, 2024 06:12am

President, PM pay homage to martyred policemen

ISLAMABAD: President Asif Ali Zardari and Prime Minister Shehbaz Sharif on Sunday paid rich tribute to the martyred...

Published 05 Aug, 2024 06:12am

Bandits kidnap head muharer, cop near Shikarpur

SHIKARPUR: Bandits on Sunday kidnapped a head muharer and a police constable from Kot Shahoo area of Shikarpur...

Published 05 Aug, 2024 06:12am

PDMA Punjab issues rain alert

LAHORE: In view of the rain in various districts of Punjab including Lahore, PDMA Punjab has issued an alert. Bhakar...

Published 05 Aug, 2024 06:12am

Death of Syeda Sania Zahra: PWPA makes significant progress in investigation

LAHORE: Punjab Women Protection Authority (PWPA) has made significant progress in the investigation of the tragic...

Updated 05 Aug, 2024 06:43am

Commodities

Peshawar: prices of essential food items remain high

PESHAWAR: Prices of live chicken/meat, vegetables, flour, pulses and other important daily use items on the rise in...

Published 05 Aug, 2024 06:12am

333 personnel of Lahore Police laid down their lives: CCPO

LAHORE: Martyrs are our valuable assets whose stories of courage and bravery are a beacon light for the entire ...

Published 05 Aug, 2024 06:12am

CM to launch ‘Own Roof Own House’ programme on 14th

LAHORE:On the firm resolve of Chief Minister Punjab Maryam Nawaz Sharif, work on “Own Roof... Own House”(Apni...

Published 05 Aug, 2024 06:12am

2nd phase of CPEC: PM says fast-paced work in progress

LAHORE: Prime Minister Shehbaz Sharif Sunday said that work was progressing fast on the second phase of...

Updated 05 Aug, 2024 09:08am

Senate session today

ISLAMABAD President Asif Ali Zardari on Sunday summoned a session of Senate for today (August 5) at 5 pm under...

Published 05 Aug, 2024 06:12am

Discos slammed for issuing inflated bills

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s (FPCCI) Businessmen Panel (BMP) has slammed...

Updated 05 Aug, 2024 09:20am

President for resolution of IPP issue thru consensus

FAISALABAD: IPPs is a ticklish issue which needs to be resolved by evolving consensus among all stakeholders, said...

Updated 05 Aug, 2024 08:38am

Imran completes one-year in jail today

ISLAMABAD: The founding chairman of Pakistan Tehreek-e-Insaf (PTI) and former prime minister Imran Khan completes ...

Published 05 Aug, 2024 06:12am

World, OIC help sought to resolve Kashmir dispute

ISLAMABAD: Federal Minister for Kashmir Affairs and Gilgit-Baltistan Engineer Amir Muqam on Sunday appealed to the...

Published 05 Aug, 2024 06:12am

PHA sets goal to boost Lahore’s tree cover to 7pc

LAHORE: The Parks and Horticulture Authority (PHA) is working to plant over 25 million trees during this year to...

Published 05 Aug, 2024 06:12am

Financial support for martyred policemen increased: Sindh CM

KARACHI: The Sindh Chief Minister Syed Murad Ali Shah on Sunday said that to lay down one’s life in the line of...

Published 05 Aug, 2024 06:12am

Sindh govt to observe ‘Youm-e-Istehsal’ today

KARACHI: Sindh Government has decided to observe “Youm-e-Istehsal” today by organizing protest rallies, holding...

Published 05 Aug, 2024 06:12am

NPC organises all-party round-table conference on Kashmir

ISLAMABAD: The National Press Club (NPC) here on Sunday organised an all-party round table conference titled “Five...

Published 05 Aug, 2024 06:12am

Urban commuting: Sindh CM urged to learn from ‘Punjab CM’s experience’

KARACH: Pasban Democratic Party PDP Chairman Altaf Shakoor has urged the Sindh chief minister Syed Murad Ali Shah,...

Published 05 Aug, 2024 06:12am

MENA

Journey from Hyderabad to Dubai: Badami’s auto parts company is now a global player

KARACHI: Born in Hyderabad, Sindh, Asad Badami is now the Managing Director of Al-Mukarram Auto Parts (A-MAP), a...

Updated 05 Aug, 2024 10:29am

‘My Karachi Exhibition’ concludes: Efforts afoot to overcome economic challenges: minister

KARACHI: Federal Minister for Maritime Affairs Qaiser Shaikh had said that people participated in the My Karachi...

Published 05 Aug, 2024 06:12am

Cotton & Textile

Weekly Cotton Review: Prices rise amid low business volumes

KARACHI: Cotton prices have risen by Rs 500 to Rs 1000 per maund, with Rs 600 per maund increase in spot rates....

Published 05 Aug, 2024 06:12am

All is not quite well!

A reality check shows a yawning gap between the relatively small audience (external more than internal as the ...

Updated 05 Aug, 2024 08:36am

Economy: durable solutions remain elusive

The FY25 budget presents challenges for everyone, with few economic actors benefiting. Despite compromises due to...

Updated 05 Aug, 2024 08:41am

Prices of POL products

EDITORIAL: The federal government has slashed petrol price by 6.17 rupees per litre, high speed diesel’s by 10.86...

Updated 05 Aug, 2024 08:33am

Musk says Fed foolish not to have cut rates

NEW YORK: Billionaire Elon Musk said on Sunday the Federal Reserve needs to cut interest rates and that it was...

Published 05 Aug, 2024 06:12am

Money & Banking

Yuan strengthens against dollar

SHANGHAI: China’s yuan strengthened against the US dollar on Friday and looked set for a second consecutive week ...

Published 05 Aug, 2024 06:12am

KP-BoIT, TDAP to hold investment conference at Chitral

PESHAWAR: Khyber Pakhtunkhwa Board of Investment & Trade (KP-BoIT) in collaboration with Trade Development...

Published 05 Aug, 2024 06:12am

Simply unrealistic

EDITORIAL: It seems everybody but the government understands that this fiscal year’s tax regime is not only...

Updated 05 Aug, 2024 06:58am

DC, Mayor Hyderabad visit pumping stations

HYDERABAD: Deputy Commissioner Hyderabad Zain-ul-Abedin Memon and Mayor Hyderabad Kashif Shoro conducted a joint...

Updated 05 Aug, 2024 07:13am

German economy unexpectedly shrinks in second quarter

FRANKFURT: The German economy unexpectedly shrank in the second quarter, preliminary data showed Tuesday, falling...

Updated 05 Aug, 2024 07:32am

Companies

Byju avoids bankruptcy

MUMBAI: An Indian appeals tribunal stopped bankruptcy proceedings against troubled educational technology firm Byju...

Updated 05 Aug, 2024 07:34am

Europe

Ukraine finally deploying F-16 fighter jets, says Zelenskiy

KYIV: Ukrainian pilots have started flying F-16s for operations within the nation, President Volodymyr Zelenskiy ...

Updated 05 Aug, 2024 07:36am

Philippines, Germany agree to broaden defence agreement

MANILA: The Philippines and Germany have agreed to deepen military cooperation, their defence ministers said on...

Updated 05 Aug, 2024 07:40am

Macron, Jordan king urge avoiding ME escalation ‘at all costs’

PARIS: France’s Emmanuel Macron and Jordan’s King Abdullah II on Sunday said a military escalation in the Middle...

Updated 05 Aug, 2024 07:45am

China issues plan to boost household consumption

BEIJING: China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth...

Updated 05 Aug, 2024 08:01am

Europe

Dozens arrested after UK protests turn violent

LONDON: Police arrested dozens of people after protests across parts of England and Northern Ireland turned violent...

Updated 05 Aug, 2024 08:03am

Europe

Anti-immigration unrest hits parts of Britain

LONDON: Anti-immigration protesters broke hotel windows and set bins on fire in northern England on Sunday in the...

Updated 05 Aug, 2024 08:10am

Middle East

Travellers rush to leave Lebanon amid spiking tensions, cancelled flights

BEIRUT: Travellers waited in long lines at Beirut airport on Sunday, some after cutting summer holidays short, as...

Updated 05 Aug, 2024 08:14am

Middle East

Houthis claim attack on shipping lanes

CAIRO: Yemen’s Iran-aligned Houthi movement said on Sunday that it targeted a Liberia-flagged container vessel in...

Updated 05 Aug, 2024 08:17am

Poor performance in polio campaigns: Stern warning issued to district health admin

LAHORE Punjab Emergency Operations Centre Coordinator and head of the polio programme in Punjab Khizer Afzaal has...

Updated 05 Aug, 2024 08:28am

Rates

Automart: car prices in Karachi

Rates in the week ended Sunday August 03, 2024

Updated 05 Aug, 2024 06:51am

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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