News stories for Ali Ahmed - Business Recorder

Ali Ahmed

Business & Finance

LSMI output increases 9.13pc in January

According to provisional Quantum Index Numbers (QIM) of Large Scale Manufacturing Industries, the LSMI output increased by 5.36pc when compared to December 2020.

Published 16 Mar, 2021 12:46pm

Business & Finance

Rising food, POL rate in intl markets escalating Pakistan's inflation rate, says expert

“If you look at the petroleum products in December receiving oil at $40 per barrel which now stands at $70 per barrel,” he said. The rise in rates of food and petroleum production ports in the international market have affected the domestic market, said Suleri.

Published 16 Mar, 2021 12:14pm

Business & Finance

Saudi Arabia introduces major changes to kafala system

“The announcement will do away with the need for a sponsor or kafeel’s approval to transfer sponsorship, for a migrant worker to undergo sponsorship in order to receive exit and re-entry visas, and for migrants to become runaways or “huroob” from their kafeels,” stated Migrante International, a global alliance of grassroots migrants organizations of overseas Filipinos.

Published 16 Mar, 2021 11:09am

Business & Finance

FBR unearths major fake & flying invoices scam

So far, from investigations, it appears that the accused is involved in a huge scam of hundreds of millions of tax fraud by means of being the epicenter of notorious business of fake/flying invoices, informed FBR.

Published 16 Mar, 2021 10:46am

Business & Finance

PSX extends bullish rally, KSE-100 Index gains over 978 pts

The indexes inched high with the benchmark KSE 100 closing above the 44,000 mark. As per analysts, investors’ confidence improved following ease in political tensions.

Published 15 Mar, 2021 04:48pm

Business & Finance

Pakistan among largest major arms importer in Asia: SIPRI

Pakistan was also among the largest recepient of Chinese arms, revealed the report. The exports by China, the world’s fifth largest arms exporter in 2016–20.

Updated 15 Mar, 2021 04:08pm

Business & Finance

Women financial inclusion vital for economic growth, stresses SBP Baqir

“50 percent of the country's asset base as far as human resources are concerned are women. So we would not be doing justice as a country for our economic aspirations if we do not recognize that such sector of the society has to be supported so that they can play the role in the economic development of our country,” said Baqir.

Published 15 Mar, 2021 02:23pm

Technology

Despite COVID-19, Pakistani freelancers earn $ 150mn in FY 2019-20

The report revealed that the most popular positions of the orders in the freelance market are web development, logo designing and programming.
The enormous mainstream of Freelancers in Pakistan are in their 20s and 30s (over 60%).

Published 15 Mar, 2021 11:39am

Business & Finance

Most economies won’t return to pre-pandemic levels until 2022, says Moody’s

In the year since the World Health Organisation (WHO) declared COVID-19 a pandemic on 11 March 2020, the virus has disrupted the global economy and triggered a credit downturn accompanied by a spike in bond defaults, said Moody’s.

Published 15 Mar, 2021 11:13am

Business & Finance

India's Foreign Exchange reserves becomes world's 4th largest

As per the data of the Reserve Bank of India, the country's FX reserves stood at $ 580.299 billion as of March 05, 2021, dropping by $ 4.255bn.

Published 15 Mar, 2021 10:24am

Technology

After CDA, Pakistan to establish Disruptive Technologies Authority

“Establishment of Drone Authority is another milestone achieved, we are focusing on Agriculture Drones and Police Drones,” said Chaudhry in a tweet post.

Published 13 Mar, 2021 03:23pm

Business & Finance

How will govt Income Tax (Amendment) Bill 2021 impact industry?

Regarding the removal of tax exemption on the sale of immovable property to REITs, the report was of the view that this will not impact listed REITs.
However, this may have a negative impact on potential REIT listings.

Published 13 Mar, 2021 01:52pm

Technology

Ignite, PITC join hands to promote engineering innovations in Pakistan

Shoaib informed that through this partnership NIC startups will now get access to these engineering labs for the development and testing of engineering products.

Published 13 Mar, 2021 01:09pm

Business & Finance

China welcomes countries, intl bodies to participate in CPEC building

“As an important pilot project of the Belt and Road Initiative, the China-Pakistan Economic Corridor (CPEC) is an open one guided by the principles of extensive consultation, joint contribution, and shared benefits,” said China’s Foreign Ministry Spokesperson Zhao Lijian's at a regular press conference.

Published 13 Mar, 2021 12:28pm

Technology

Facebook now allows content creators to earn money off minute long video

This option aims to attract more users to Facebook videos and provide them with better financial revenue opportunities.

Published 13 Mar, 2021 11:04am

Business & Finance

Illicit Cigarette worth Rs 40mn Confiscated

The cigarettes valuing more than Rs. 40 million were confiscated after intercepting two vehicles at Burhan Interchange of Motorway.

Published 13 Mar, 2021 10:25am

Business & Finance

Major amendments made in Income Tax (Second Amendment) Act, 2021

A number of amendments have been made into the act, Section 64C and 65C have been omitted, and after Section 65E, Section 65F and Section 65G have been inserted.

Published 12 Mar, 2021 04:14pm

Business & Finance

Sazgar signs agreement with ‘renowned’ Chinese automaker

The company informed that the agreement is for the manufacture/assembly, sales, and after-sales service of passenger and commercial vehicles, which is subject to the approval of relevant government authorities.

Updated 12 Mar, 2021 02:04pm

Business & Finance

Market expert terms PSX latest nosedive as ‘synchronised’ & ‘coordinated’ sell-off

“I believe this is a synchronised sell-off and it was coordinated. The apex and frontline regulators should look into it,” said Najam Ali CEO Next Capital, while talking to a private channel.

Published 12 Mar, 2021 12:16pm

Business & Finance

SBP waives off cash margin requirement on industrial items

“Banks are further clarified that cash margin requirement will not be applicable on the imports made under HS Code 87021090 (Others) by Category-A and Category-B investors as defined in the Automotive Development Policy, 2016-2021,” said SBP.

Published 12 Mar, 2021 11:40am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	156.17
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 25	5048.42
Nasdaq / Apr 25	15611.76
Dow Jones / Apr 25	38085.80
India Sensex / Apr 26	74171.68
Tokyo Nikkei / Apr 26	37934.72
Hang Seng / Apr 26	17626.75
FTSE 100 / Apr 26	8123.98
Germany DAX 30 / Apr 26	18016.27

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 25	20535
Gold 10 Grams PKR / Apr 25	240900
Petrol/Litre / Apr 26	293.94
Crude Oil USD/Barrel / Apr 26	83.89
Gold Spot USD/Ounce / Apr 26	2336.33
Diesel/Litre / Apr 26	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 26 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 26 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 26 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 26 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 26 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 26 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 26 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 26 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 26 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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