News stories for Ali Ahmed - Business Recorder

India Economy set to contract 7.7pc, biggest decline since 1952

The Indian Gross Domestic Product (GDP) will shrink by 7.7pc in the financial year ending March 2021, which is higher than the earlier 7.5pc decline forecasted forecast by the central bank of India.

Published 08 Jan, 2021 10:25am

Business & Finance

Dubai’s Mashreq Bank may move jobs to Pakistan as part of cost-cutting move

The report added that Mashreq Bank will also cut a large number of existing jobs, and create new jobs for employees.

Updated 07 Jan, 2021 04:10pm

Business & Finance

PM Khan lauds Pakistani exporters, as India, Bangladesh struggle continue

“I have received the regional export trends and this shows that, compared to our exports, the exports of India and Bangladesh for Nov/Dec 2020 showed negative growth,” said PM Khan.

Updated 07 Jan, 2021 07:07pm

Technology

Telenor Pakistan boost up app's navigation feature

The update also offers features like comprehensive search, location details, the option to add new locations as well as routing to a location, all within the app.

Updated 07 Jan, 2021 01:22pm

Business & Finance

State Bank defers over Rs 657bn loans under COVID package

Out of 1.644 million applications received, banks, DFIs and MFBs have approved 1.582 million applications (96.23 %) up to December 24, 2020.

Published 07 Jan, 2021 12:38pm

Business & Finance

Covid-19 Vaccines to develop into a Multibillion-Dollar market in 2021: Fitch

“Coupled with the unparalleled demand, these products will help to develop Covid-19 vaccines into a multibillion-dollar commercial opportunity,” it stated.

Published 07 Jan, 2021 11:05am

Business & Finance

Sugar rate jumps yet again

Abdul Rauf Ibrahim, chairman of the wholesale market, said that the condition of NTN would make it easier to identify hoarders.

Published 07 Jan, 2021 10:50am

Business & Finance

Removal of Custom Duty to make Pakistan’s chemical industry competitive: Dawood

“Our policy regarding reducing customs duties on raw material is certainly showing results,” said Dawood.

Published 07 Jan, 2021 10:24am

Business & Finance

Mob comes after another top Pakistani professional with questionable allegations

*A media outlet reported that the Federal Board of Revenue (FBR) has begun investigating Arif Usmani, for his alleged offshore assets worth billions of rupees.

Published 06 Jan, 2021 09:14pm

Business & Finance

WB expects Pakistan economic growth to average 1.3pc over next two fiscals

WB stated that Pakistan's growth is projected to be held back by continued fiscal consolidation pressures and services sector weakness.

Published 06 Jan, 2021 04:56pm

Business & Finance

Suppression of Chinese companies will harm US national interests, says China

*The spokesperson said that some political forces in the United States have been ‘wantonly suppressing’ foreign companies listed in the country, “exposing an arbitrary and capricious uncertainty in its rules and mechanisms.”

Published 06 Jan, 2021 02:44pm

Business & Finance

Shabbar Zaidi voice against reversing zero rating for Pakistan exports

“If this is done then we should forget about any tax system in Pakistan,” said Zaidi, while calling for an improvement in the refund system.
All Pakistan Textile Mills Association (APTMA) in a series of tweets on Wednesday, said that the withdrawal of zero-rating was one of the most regressive policies brought in by then FBR Chairman Shabbar Zaidi.

Published 06 Jan, 2021 01:57pm

Business & Finance

NAB unearths embezzlement of millions of rupees of embassy funds

In the NAB reference, former ambassador AS Babar Hashmi and former accountant Tufail Qazi has been nominated.

Published 06 Jan, 2021 01:31pm

Business & Finance

Aiming to restore reputation, China may struggle to win global trust on vaccine: EIU

EIU stated that given the logistical challenges of vaccine distribution, China will be at risk of overpromising and under-delivering.

Published 06 Jan, 2021 12:25pm

Business & Finance

Explainer! How did Pakistan’s Remittances continue to grow despite COVID-19?

The central bank said that it has also significantly revised its forecast for remittances for CY20, from an initial projection of a 23 percent decline to a growth of 9 percent.

Published 06 Jan, 2021 11:45am

Business & Finance

Despite favorable environment, declining trend persist in private credit sector: SBP

Despite this favorable environment, the declining trend in the private credit, which had started from the third quarter of FY19, continued in Q1-FY21, stated the report.

Published 06 Jan, 2021 11:02am

Technology

Samsung vows to get ‘even more epic’ with upcoming entry of Galaxy S21

As per details, at the January 14 virtual event, Samsung will unveil three different models of its new phone, including the 6.2-inch S21, the 6.7-inch S21 Plus and the 6.8-inch S21 Ultra.

Published 05 Jan, 2021 04:11pm

Business & Finance

Kaifa Group keen to invest in Pakistan’s mobile manufacturing sector

Back in June, the cabinet approved the country’s first-ever mobile device manufacturing policy.

Published 05 Jan, 2021 03:52pm

Business & Finance

Pakistan’s leading packaging producer to add another polypropylene line

The company informed that it has once again decided to acquire the plant from Ms Windmoller & Holscher, “which is the leading supplier of such equipment.

Published 05 Jan, 2021 02:12pm

Business & Finance

Restructuring Plan: PIA not shifting headquarters to Islamabad

PIA added that the company is in the process of improving and restructuring the airline to make it a profitable venture despite severe constraints particularly COVID-19 pandemic that has impacted PIA as well as the airline industry.

Updated 05 Jan, 2021 01:09pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 19	278.45
USD PKR Interbank Buying / Apr 19	278.15
USD to Japanese Yen / Apr 19	154.37
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.06

Stock	Volume
S&P 500 / Apr 18	5011.12
Nasdaq / Apr 18	15601.50
FTSE 100 / Apr 18	7877.05
Dow Jones / Apr 18	37775.38
Germany DAX 30 / Apr 18	17837.40
France CAC40 / Apr 18	8023.26
India Sensex / Apr 19	72222.48
Tokyo Nikkei / Apr 19	37068.35

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 18	21735
Gold 10 Grams PKR / Apr 18	214077
Petrol/Litre / Apr 19	293.94
Crude Oil USD/Barrel / Apr 19	84.27
Gold Spot USD/Ounce / Apr 19	2382.04
Diesel/Litre / Apr 19	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 19 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 19 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 19 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 19 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 19 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 19 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 19 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 19 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 19 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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