News stories for Ali Ahmed - Business Recorder

Ali Ahmed

Pakistan

Despite KE assurance, load shedding keeps Karachi in dark

The duration of load shedding in the city has increased from 7 to 10 hours due to which the citizens are facing difficulties in the ongoing hot weather.
The power outage in Karachi is rampant, while KE is reluctant to name the areas affected by the power outage and is anxious to discuss future plans.

Published 04 Jul, 2020 11:22am

Business & Finance

Work initiated to receive additional electricity from National Grid: KE

“Work has been initiated to receive additional power from National Grid upon confirmation last month,” said KE spokesperson.
Last month, the federal government has announced that it is ready to provide additional 500 MW from the National Grid.

Published 04 Jul, 2020 10:58am

Business & Finance

PIA downgraded to one-star airline after ‘dubious’ degree fiasco

AirlineRatings.com has stripped the airline of its three-stars for the IATA Operational Safety Audit (IOSA) as well as the one-star for the ICAO country audit.

Published 03 Jul, 2020 04:48pm

Business & Finance

Emirates resumes operations in Pakistan

"Following the receipt of relevant government approvals, Emirates has resumed passenger services to Pakistan," said Emirates.

Published 03 Jul, 2020 02:52pm

Business & Finance

Load shedding to prolong after KANUPP supply to KE suspended

“Due to technical fault at KANUPP plant, power supply to parts of Karachi may be impacted due to resultant shortfall of 60MW,” informed KE spokesperson.

Published 03 Jul, 2020 02:34pm

Pakistan

European Union ban on PIA flights comes into effect tonight

According to the PIA spokesperson, the European Union Air Safety Agency has suspended the PIA's license for flights to European countries for six months, which will take effect from 12:00 AM tonight.

Published 03 Jul, 2020 12:46pm

Markets

This Pakistani denim manufacturer wants to supply indigenous organic cotton

Organic cotton comprises less than one percent of global cotton production, and there are issues pertaining to the integrity of its certification.

Updated 03 Jul, 2020 01:16pm

Pakistan

PIA suspends dozens of employees with fake degrees

The airline has taken action against 52 employees in the month of June, out of which 25 employees were suspended for dubious degrees.

Published 03 Jul, 2020 11:20am

Business & Finance

Financial expert debunks Dar, Dagha allegations against SBP

“Rs7 trillion bonds were sold a day before rate cuts.. on fixed rates! The way they are doing this debt profiling is the biggest scam in our country’s history,” alleged Dagha.
“This decision was based on the consideration that unrestrained borrowing from central bank is globally recognized as a bad practice which encourages fiscal indiscipline," says the expert.

Published 02 Jul, 2020 04:25pm

Business & Finance

Despite COVID-19, Pakistan managed to ‘arrest’ declining trend in exports, claims Dawood

The advisor informed that in the coming days the ministry will meet to strategize how to recover fully, continue the momentum, and expand our exports with new products and more geographical diversification.

Published 02 Jul, 2020 03:30pm

Business & Finance

Pakistan to locally manufacture stealth gun boats, tugs

The gun boat possessing stealth features, armor protection, and capable of achieving high speed will be indigenously designed by Pakistan Navy, while its construction will be undertaken by Karachi Shipyard & Engineering Works (KS&EW).

Published 02 Jul, 2020 01:44pm

Business & Finance

US based IDFC keen to involve Pakistan in multi-billion dollar regional fund

IDFC has a $3 billion fund for immediate liquidity requirements of financial institutions, in the aftermath of Covid-19 pandemic.

Published 02 Jul, 2020 01:13pm

Business & Finance

Pakistan 'very concerned' over the rise in coronavirus cases: SBP Governor

“We have to remind ourselves that this is a public health crisis, and only on a secondary basis then it becomes an economic crisis," said Baqir.
Reza informed that they have provided $7 billion in terms of liquidity support to households as well as businesses i.e. about 2.5 percent of Pakistan GDP.

Updated 02 Jul, 2020 01:33pm

Business & Finance

Pakistan to soon export ventilators in the region, says Fawad Chaudhry

The federal minister said that Pakistani has become self-sufficient in producing its PPEs and sanitizers in a relatively short span of time.

Published 01 Jul, 2020 02:14pm

Technology

Microsoft to provide digital skills for Free amid corona economy

One of the keys to a genuinely inclusive recovery are programs to provide easier access to digital skills for people hardest hit by job losses.

Published 01 Jul, 2020 01:40pm

Technology

Pakistani startup Airlift raises $10mn in Series A-1 financing

The financing was led by San Francisco based Quiet Capital, with the latest round of financing Airlift total investment to date has raised to $24.1mn.

Published 01 Jul, 2020 01:05pm

Markets

UBL appoints Karachiwalla as Acting President & CEO

UBL informed that the State Bank of Pakistan has cleared FPT of Shazad G. Dada.

Published 01 Jul, 2020 11:57am

Pakistan

European Union permits PIA to operate until July 3

The efforts of the government of Pakistan came to fruition, the ban on PIA was relaxed by the European Union, from today until July 3, flights to and from the UK and Europe will be allowed.

Published 01 Jul, 2020 10:40am

Pakistan

First batch of ‘Made in Pakistan’ ventilators to be delivered on Friday, says Chaudhry

In his address to the National Assembly (NA) on Tuesday, said that medical engineering was virtually nonexistent in Pakistan.

Published 30 Jun, 2020 02:36pm

Markets

Indus Motor Company appoints Mohamed Ali R. Habib as Chairman

Furthermore, the IMC Board also appointed Muhammad Hyder Habib as Director with effect from June 26, 2020, to fill the casual vacancy in place of Ali S. Habib.
The Board also appointed Noriaki Kurokawa as director to fill the casual vacancy in place of Tadao Nasu.

Updated 30 Jun, 2020 03:33pm

Gainers
Losers
Leaders

Stock	Price
Invest Cap. Bank / Jan 23 Invest Capital Investment Bank Limited(ICIBL)	3.47 ▲ 1.05 (28.04%)
Nazir Cotton / Jan 23 Nazir Cotton Mills Limited(NCML)	4.74 ▲ 0.98 (22.16%)
1st Dawood / Jan 23 First Dawood Investment Bank Limited(FDIBL)	2.72 ▲ 0.39 (16.74%)
Saudi Pak Leas. / Jan 23 Saudi Pak Leasing Company Limited(SPLC)	1.89 ▲ 0.36 (14.55%)
Hala Enterpries / Jan 23 Hala Enterprises Limited(HAEL)	11.60 ▲ 1.10 (9.43%)
Fazal Cloth / Jan 23 Fazal Cloth Mills Limited(FZCM)	213.66 ▲ 19.66 (7.50%)
Pak Synthetic / Jan 23 Pakistan Synthetics Limited(PSYL)	23.65 ▲ 1.65 (7.50%)
Rel.Cotton / Jan 23 Reliance Cotton Spinning Mills Limited(RCML)	174.25 ▲ 14.25 (7.50%)
First Imrooz Mod. / Jan 23 First Imrooz Modaraba(FIMM)	102.84 ▲ 7.17 (7.49%)
First National Equities / Jan 23 First National Equities Limited(FNEL)	21.82 ▲ 1.63 (7.49%)

Stock	Price
First Equity Mod. / Jan 23 First Equity Modaraba(FEM)	3.05 ▼ 0.16 (-8.68%)
Habib Ins. / Jan 23 Habib Insurance Company Limited(HICL)	7.51 ▼ 0.00 (-7.85%)
Khurshid Spinng / Jan 23 Khurshid Spinning Mills Limited(KHSM)	21.15 ▼ 3.27 (-7.48%)
Unicap Mod. / Jan 23 Unicap Modaraba(UCAPM)	1.02 ▼ 0.00 (-7.27%)
Universal Ins. / Jan 23 The Universal Insurance Company Limited(UVIC)	5.06 ▼ 1.10 (-6.99%)
Frontier Cer. / Jan 23 Frontier Ceramics Limited(FRCL)	24.36 ▼ 0.50 (-5.58%)
F.Treet Manuf.Mod / Jan 23 First Treet Manufacturing Modaraba(FTMM)	16.62 ▼ 1.39 (-5.35%)
HBL Inv.Fund / Jan 23 HBL Investment Fund(HIFA)	3.31 ▼ 0.35 (-5.16%)
Telecard / Jan 23 Telecard Limited(TELE)	2.91 ▼ 0.15 (-4.90%)
Ravi Textile / Jan 23 Ravi Textile Mills Limited(RAVT)	10.00 ▼ 0.15 (-4.67%)

Stock	Volume
K-Electric Ltd / Jan 23 K-Electric Limited(KEL)	143,822,500 ▼ 0.27
Hum Network / Jan 23 Hum Network Limited(HUMNL)	43,378,000 ▼ 0.42
Pak Int.Bulk Ter / Jan 23 Pakistan International Bulk Terminal Limited(PIBTL)	31,430,000 ▼ 0.50
Fauji Foods / Jan 23 Fauji Foods Limited(FFL)	23,037,500 ▼ 1.04
Unity Foods / Jan 23 Unity Foods Limited(UNITY)	21,205,214 ▼ 0.69
Jahangir Sid. Co. / Jan 23 Jahangir Siddiqui & Co. Ltd.(JSCL)	20,470,500 ▼ 1.68
TRG Pak. / Jan 23 TRG Pakistan Limited(TRG)	17,361,500 ▼ 3.36
Invest Cap. Bank / Jan 23 Invest Capital Investment Bank Limited(ICIBL)	16,934,000 ▼ 1.05
SILKBANK / Jan 23 Silkbank Limited(SILK)	16,364,500 ▼ 0.08
Al Shaheer Corp. / Jan 23 Al Shaheer Corporation Limited(ASC)	16,117,000 ▼ 0.56

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 22	160.65
USD PKR Interbank Buying / Jan 22	160.55
USD to Japanese Yen / Jan 22	103.52
USD to Swiss Franc / Jan 22	0.89
Pound Sterling to USD / Jan 22	1.37
Euro to USD / Jan 22	1.22

Stock	Volume
S&P 500 / Jan 22	3853.07
India Sensex / Jan 22	49624.76
Tokyo Nikkei / Jan 22	28756.86
Nasdaq / Jan 22	13530.91
Hang Seng / Jan 22	29927.76
FTSE 100 / Jan 22	6715.42
Dow Jones / Jan 22	31176.01
Germany DAX 30 / Jan 22	13906.67
France CAC40 / Jan 22	5590.79