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Business Published 23 Sep, 2020 10:30am

Pakistan’s CAB turns into surplus for second consecutive month

SBP was of the view that efforts to attract workers’ remittances, flexible exchange rate and relatively benign import prices explain the improving current account balance.

Turkish president expresses unwavering support for Kashmir cause, earns Pakistan’s appreciation

Published 23 Sep, 2020 10:28am

Middle schools reopen in Pakistan

Updated 23 Sep, 2020 09:51am

GI tag to basmati: Govt initiates consultation to contest India’s application at EU

Published 23 Sep, 2020 02:48am

Selected items of textile sector: ECC may approve removal of additional customs, regulatory duties

Published 23 Sep, 2020 02:48am

No trust shown in prices being collated by PBS

Published 23 Sep, 2020 02:48am

Fundamental rights: FATF laws being deemed violative

Published 23 Sep, 2020 02:48am

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Sep 23	166.25
USD PKR Interbank Buying / Sep 23	166.15
USD to Japanese Yen / Sep 23	104.93
USD to Swiss Franc / Sep 23	0.92
Pound Sterling to USD / Sep 23	1.27
Euro to USD / Sep 23	1.17

Stock	Volume
S&P 500 / Sep 23	3317.49
India Sensex / Sep 23	37734.08
Tokyo Nikkei / Sep 23	23360.30
Nasdaq / Sep 23	10963.64
Hang Seng / Sep 23	23716.85
FTSE 100 / Sep 23	5829.46
Dow Jones / Sep 23	27288.18
Germany DAX 30 / Sep 23	12504.39
France CAC40 / Sep 23	4772.84

Indicator	Value
Weekly Foreign Reserves / Sep 22	19959.00
GDPGROWTH / Sep 22	5.40
Foreign Debt / Sep 22	15087.50
Per Capita Income (CPI) / Sep 22	1516.00
Average CPI / Sep 22	11.11
UK LIBOR / Sep 23	0.08

Gainers
Losers
Leaders

Stock	Price
First Equity Mod. / Sep 23 First Equity Modaraba(FEM)	4.1900 ▲ 0.49 (13.24%)
Crescent Star / Sep 23 Crescent Star Insurance Limited(CSIL)	3.5000 ▲ 0.40 (6.13%)
Flying Cement Ltd / Sep 23 Flying Cement Company Limited(FLYNG)	10.9875 ▲ 0.71 (4.57%)
Ist Paramount / Sep 23 First Paramount Modaraba(FPRM)	6.3000 ▲ 0.31 (2.67%)
First Credit & Inv. / Sep 23 First Credit and Investment Bank Limited(FCIBL)	18.3900 ▲ 0.39 (2.17%)
Redco Tex. / Sep 23 Redco Textiles Limited(REDCO)	7.0000 ▲ 0.11 (1.60%)
P. Datacom / Sep 23 Pak Datacom Limited(PAKD)	67.7094 ▲ 3.01 (0.46%)
Thatta Cement / Sep 23 Thatta Cement Company Limited(THCCL)	24.9000 ▲ 1.38 (0.34%)
Pak Oilfields / Sep 23 Pakistan Oilfields Limited(POL)	430.0000 ▲ 2.00 (0.12%)
Engro Polymer / Sep 23 Engro Polymer & Chemicals Limited(EPCL)	45.5367 ▲ 1.49 (0.11%)

Stock	Price
PICIC Insurance / Sep 23 PICIC Insurance Limited(PIL)	1.3300 ▼ 0.26 (-19.55%)
Shaheen Ins. / Sep 23 Shaheen Insurance Company Limited(SHNI)	4.5000 ▼ 0.49 (-10.89%)
Bilal Fibres / Sep 23 Bilal Fibres Limited(BILF)	1.6900 ▼ 0.18 (-10.65%)
Pervez Ahmed Cons. / Sep 23 Pervez Ahmed Consultancy Services Ltd.(PASL)	1.1400 ▼ 0.12 (-9.65%)
First Cap. Sec. / Sep 23 First Capital Securities Corporation(FCSC)	1.7400 ▼ 0.16 (-9.20%)
Telecard / Sep 23 Telecard Limited(TELE)	2.0904 ▼ 0.15 (-7.18%)
Dewan Farooq. Spin. / Sep 23 Dewan Farooque Spinning Mills Limited(DFSM)	1.9900 ▼ 0.09 (-6.53%)
Service Fab. / Sep 23 Service Fabrics Limited(SERF)	8.4971 ▼ 0.50 (-5.77%)
SILKBANK / Sep 23 Silkbank Limited(SILK)	1.0700 ▼ 0.07 (-5.66%)
Kohinoor Sp. / Sep 23 Kohinoor Spinning Mills Limited(KOSM)	2.8000 ▼ 0.15 (-5.36%)

Stock	Volume
K-Electric Ltd / Sep 23 K-Electric Limited(KEL)	14,128,000 ▼ 0.20
Unity Foods / Sep 23 Unity Foods Limited(UNITY)	12,816,000 ▼ 0.75
Hascol Petroleum / Sep 23 Hascol Petroleum Limited(HASCOL)	12,224,500 ▼ 0.61
SILKBANK / Sep 23 Silkbank Limited(SILK)	11,837,000 ▼ 0.07
P.T.C.L.A / Sep 23 Pakistan Telecommunication Company Ltd(PTC)	9,927,500 ▼ 0.51
Pak Int.Bulk Ter / Sep 23 Pakistan International Bulk Terminal Limited(PIBTL)	8,505,500 ▼ 0.35
Fauji Foods / Sep 23 Fauji Foods Limited(FFL)	5,256,500 ▼ 0.65
Aisha Steel / Sep 23 Aisha Steel Mills Limited(ASL)	5,070,000 ▼ 0.47
TRG Pak. / Sep 23 TRG Pakistan Limited(TRG)	4,705,500 ▼ 1.10
Pakistan Refinery / Sep 23 Pakistan Refinery Limited(PRL)	4,450,000 ▼ 0.89

Markets →

COVID-19 may wipeout Indian, Mexican and Brazilian economies, UNCTAD warns

The developing world will be hit hard by the economic fallout as levels of informality are high in these regions.
The crisis may wipe over USD 6 trillion globally.
Any premature measures in the road to recovery may prompt a “double-dip recession a real possibility in many countries in 2022.”

Published 23 Sep, 2020 11:05am

BR Research

Cotton imports: sign of days to come?

August 2020 was supposed to be the low point in Pakistan’s external trade scorecard. Heavy monsoon rains across ...

Published 23 Sep, 2020 07:39am

Unannounced loadshedding hits Karachi again

KE is of the view that the issue is due to low gas pressure that has adversely hit its generation capacity, as various areas suffer from 8 to 12 hours of load shedding.

Published 23 Sep, 2020 10:38am

Pakistan’s CAB turns into surplus for second consecutive month

SBP was of the view that efforts to attract workers’ remittances, flexible exchange rate and relatively benign import prices explain the improving current account balance.

Published 23 Sep, 2020 10:30am

BR Research

Exporters’ energy woes

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has shown its dismay and surprise on the...

Published 23 Sep, 2020 07:39am

Stocks

Asian stocks struggle to build on Wall Street gains, dollar rises

MSCI’s broadest index of Asia-Pacific shares outside Japan was steady after two days of declines, but the mood was hardly bullish.

Published 23 Sep, 2020 10:06am

Commodities

Oil down after U.S. crude inventories rise against expectations

Brent crude was trading down 30 cents, or 0.7%, at $41.42 a barrel by 0347 GMT, after gaining 28 cents on Tuesday, while U.S. crude dropped 34 cents, or 0.9%, to $39.46.

Published 23 Sep, 2020 10:04am

Companies

Huawei's supply chain has been 'attacked', says chairman

Guo was speaking at the Chinese smartphone and telecoms gear maker’s annual Huawei Connect event in Shanghai that focuses on information and communications technology.

Published 23 Sep, 2020 10:02am

Asian business confidence rebounds sharply, pandemic casts shadow

It was also higher than the 50-point mark, which indicates a positive outlook.

Published 23 Sep, 2020 10:00am

Companies

Reliance says KKR to invest $755.1 million in retail arm

KKR's investment will translate to a 1.28% stake in Retail Ventures Ltd, according to Reliance. Reliance, controlled by Asia’s richest man Mukesh Ambani has been looking to expand rapidly online to take on the likes of Walmart Inc’s Flipkart and Amazon.com Inc’s Indian arm.

Published 23 Sep, 2020 09:57am

Eurozone rebounds from recession but clouds gather

FRANKFURT: Europe appears to have weathered a pandemic-induced recession better than many feared, a slew of... Updated 23 Sep, 2020 03:14am

Global trade: Not okay

Globalization and international merchandise trade is down as predicted by relevant watchers—and all signs indicate...

Published 23 Sep, 2020 07:38am

BR Research

Coal burning out?

Coal prices have been falling over the past two years—recording their lowest in nearly five years after reaching a...

Published 23 Sep, 2020 07:36am

BR Research SEPL 215.00 ▼ 0%

Security Papers Limited

Security Papers Limited (PSX: SEPL) was established in 1965 as a private company. It was converted into a public...

Published 23 Sep, 2020 07:36am

BR Research

Microfinance during Covid

So how did the microfinance sector cope with Covid-19? There had been early reports of massive decline in...

Published 22 Sep, 2020 07:32am

BR Research

Tax directory of companies: new data, old story

Every year since the Federal Board of Revenue (FBR) started releasing its tax directories, the numbers change but ...

Updated 23 Sep, 2020 09:28am

BR Research KAPCO 26.84 ▲ 1.78%

KAPCO – PPA renewal essential

Kot Addu Power Company Limited (PSX: KAPCO) announced its financial performance for FY20 recently, and the...

Published 22 Sep, 2020 07:31am

Over 163,000 died in 2017 due to tobacco use in Pakistan: WHO

ISLAMABAD: Society for Protection of Rights of the Child (SPARC) organized a seminar on “Need for Sustainable... Published 23 Sep, 2020 02:48am

NA body passes ‘Limitation (Amendment) Bill, 2020’

ISLAMABAD: The National Assembly’s Standing Committee on Law and Justice on Tuesday passed The Limitation... Published 23 Sep, 2020 02:48am

Border markets to rejuvenate local economies, check smuggling: Asim Bajwa

ISLAMABAD: Special assistant to Prime Minister on information and broadcasting Lt Gen Asim Saleem Bajwa (retd) on... Published 23 Sep, 2020 02:48am

NSCCP scam: Reference against Ahsan at final stage, AC told

ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday informed an accountability court (AC) that corruption... Published 23 Sep, 2020 02:48am

Agreement signed: Pakistan, China to jointly build cancer medical lab

BEIJING: Pakistan, China will jointly build a cancer medical laboratory through cooperative partnership. In this... Published 23 Sep, 2020 02:48am

Allotment of land: NAB files supplementary reference

ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday filed a supplementary reference in connection with... Published 23 Sep, 2020 02:48am

President approves five bills passed by parliament

ISLAMABAD: President Dr Arif Alvi on Tuesday approved as many as five bills passed by the Parliament. The president... Published 23 Sep, 2020 02:48am

Musharraf should be punished in Benazir murder case: PPP

RAWALPINDI: The Pakistan Peoples Party (PPP) leaders said that General Pervez Musharraf (Retd) should be punished in... Published 23 Sep, 2020 02:48am

President confers Hilal-e-Pakistan on outgoing Chinese envoy

ISLAMABAD: President Dr Arif Alvi has awarded the Hilal-e-Pakistan to the outgoing Chinese Ambassador to Pakistan ... Published 23 Sep, 2020 02:48am

Covid-19 claims 6 more lives: Murad

KARACHI: Sindh Chief Minister Syed Murad Ali Shah has said that Coronavirus has claimed six more lives and infected... Published 23 Sep, 2020 02:48am

Global police sting against dark net drug sales nets 179

THE HAGUE: A global police sting has netted 179 vendors involved in selling opioids, methamphetamine and other... Published 23 Sep, 2020 02:48am

Local bodies of Karachi: PTI urges SC to direct Sindh govt to provide funds

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) appro-ached the apex court praying to direct the Sindh government to... Published 23 Sep, 2020 02:48am

It’s govt’s responsibility to ensure Nawaz’s presence: IHC

ISLAMABAD: The Islam-abad High Court (IHC) on Tuesday observed that it was the government, which permitted former... Published 23 Sep, 2020 02:48am

Opposition’s meeting with Bajwa held on mly leadership’s invitation: Khaqan

ISLAMABAD: Former prime minister and senior leader of Pakistan Muslim League-Nawaz (PML-N) Shahid Khaqan Abbasi... Published 23 Sep, 2020 02:48am

Govt decides to reduce prices of 94 life-saving drugs

ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz on Tuesday said the federal government had... Published 23 Sep, 2020 02:48am

Palestine quits chairing AL sessions

RAMALLAH: Palestine has quit its current chairmanship of Arab League meetings, the Palestinian foreign minister said... Published 23 Sep, 2020 02:48am

Issuance of Tax Directory 2018: Belated approval by Cabinet in PML-N govt caused delay

ISLAMABAD: The delay in the release of Tax Directory 2018 till 18 September 2020, the last year in the tenure of the... Published 23 Sep, 2020 02:48am

Rain-hit areas of Sindh: China donates Rs25m

KARACHI: A delegation of China led by Consul General Li Bijian called on Sindh Chief Minister Syed Murad Ali Shah... Updated 23 Sep, 2020 03:08am

COVID-19 may wipeout Indian, Mexican and Brazilian economies, UNCTAD warns

The developing world will be hit hard by the economic fallout as levels of informality are high in these regions.
The crisis may wipe over USD 6 trillion globally.
Any premature measures in the road to recovery may prompt a “double-dip recession a real possibility in many countries in 2022.”

Published 23 Sep, 2020 11:05am

Europe

World should not be dominated by China-US 'rivalry': Macron

"This pandemic must be an electric shock for our organization," he said.

Published 23 Sep, 2020 02:49am

South Asia

India, China agree to 'stop sending more troops' to contested border

They also agreed to "avoid misunderstandings and misjudgements" and hold the next meeting "as soon as possible".

Published 23 Sep, 2020 03:06am

Middle East

Saudi to gradually resume 'umrah' pilgrimage from October 4

Saudi Arabia suspended the umrah in March and scaled back the annual hajj over fears that the coronavirus could spread to Islam's Holiest cities.

Published 23 Sep, 2020 02:20am

Lawyers’ moot

EDITORIAL: The conference on “Superior Judiciary, Accountability and Civil Liberties: Concerns and Corrections”...

Discount rate unchanged

EDITORIAL: The Monetary Policy Committee (MPC) decision to keep the policy rate unchanged at 7 percent has come as ...

United they stand

EDITORIAL: A multi-party conference (MPC) hosted by PPP Chairman Bilawal-Bhutto Zardari on Sunday proved to be more...

Tax directory

EDITORIAL: Advisor to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Sheikh launched the tax directory...

Peshawar BRT troubles

EDITORIAL: It almost beggars belief that four busses of the Peshawar Bus Rapid Transport (BRT) service have caught...

Time to go back to import substitution

M Ziauddin

Globalization has lost its shine for the rich countries which in the first place had been its promoters as they went...

Impact of Covid-19 on South Asia

Dr Hafiz A Pasha

The pandemic, COVID-19, hit most parts of South Asia almost seven months ago. It has had a variable impact on the...

Partly Facetious: Buzz has ambitions

Anjum Ibrahim

“I don’t like our system of government.” “You favour a presidential system? I don’t see what difference...

Covid-19 vaccine verdicts loom as next big market risk

Lewis Krauskopf

Optimism that vaccines are on the way to end the coronavirus pandemic has been a major factor in this year’s U.S....

‘Impact of Covid-19 on South Asia’

Hina Khan

This is apropos a Business Recorder op-ed “Impact of Covid-19 on South Asia” carried by the newspaper yesterday....

Pakistan’s Power Sector Woes: A Beginning with No End

Shahid Sattar | Saad Umar

The woes of Pakistan’s power sector and associated negatives such as impact on GDP, high tariffs, prolonged and...

Can Pakistan introduce public hangings and castration for rape and sexual crimes?

Ali Chughtai

Adopting such laws is complicated and may expose Pakistan to further problems on the international front.

Sindh’s problems can only be resolved by carrying out deep rooted reforms which must include the accountability of those at the helm of affairs. Adhoc measures such as the announcement of relief packages cannot address Sindh’s issues on a long term basis in fact they can further aggravate the existing issues and not just that but the country’s fiscal problems can worsen.

Chennai were involved in another six-hitting fest against Royal Challengers Bangalore in the 2018 edition that also saw 33 sixes.

Published 23 Sep, 2020 02:46am

Sports