COVID-19 TOTAL DAILY
CASES 326,216 736
DEATHS 6,715 13
Pakistan Updated 23 Oct, 2020 08:11pm

FATF satisfied with Pakistan progress but maintains grey list status for now

Pakistan case was taken up on the last day of FATF's ongoing meeting between October 21 and 23.
FATF satisfied with Pakistan progress but maintains grey list status for now
Currency Rate
USD PKR Interbank Selling / Oct 23
161.77
USD PKR Interbank Buying / Oct 23
161.67
USD to Japanese Yen / Oct 23
104.86
USD to Swiss Franc / Oct 23
0.91
Pound Sterling to USD / Oct 23
1.31
Euro to USD / Oct 23
1.18
Stock Volume
S&P 500 / Oct 23
3453.49
India Sensex / Oct 23
40558.49
Tokyo Nikkei / Oct 23
23474.27
Nasdaq / Oct 23
11506.01
Hang Seng / Oct 23
24786.13
FTSE 100 / Oct 23
5785.65
Dow Jones / Oct 23
28363.66
Germany DAX 30 / Oct 23
12543.06
France CAC40 / Oct 23
4851.38
Indicator Value
Weekly Foreign Reserves / Oct 20
19015.50
GDPGROWTH / Oct 20
5.40
Foreign Debt (PKR billions) / Oct 20
15087.50
Per Capita Income USD (CPI) / Oct 20
1516.00
Average CPI % / Oct 20
11.11
UK LIBOR % / Oct 23
0.08

Business

Dollar headed for weekly loss amid election, stimulus uncertainty
Forex

Dollar headed for weekly loss amid election, stimulus uncertainty

  • Republican President Donald Trump and Democratic challenger Joe Biden squared off on Friday in a less raucous debate than their previous meeting.
  • It was certainly more productive than the first one, but I don't think there was any meaningful shakeup in the outlook for the election.
Published 23 Oct, 2020 08:07pm
Energy

Bangladesh scraps another LNG import tender over high prices

*The offer from Vitol to supply 138,000 cubic metres of LNG for Dec. 9-10 delivery was more than $2 per unit higher than the prices that Bangladesh pays under long-term contracts. * "From December, we will import two cargoes each month from the spot market," Rahman said, adding that both the tenders would be reissued. Updated 23 Oct, 2020 09:10pm
Money & Banking

US says AIG settles tax shelter lawsuit, forgoes over $400mn tax credits

  • AIG had filed a lawsuit in 2009 challenging an Internal Revenue Service decision from the prior year to disallow the tax credits and impose a 20% tax penalty.
  • AIG created an elaborate series of sham transactions that were designed to do nothing--and in fact did nothing--other than generate hundreds of millions of dollars in ill-gotten tax benefits.
Published 23 Oct, 2020 07:38pm
Commodities

Wheat up 5-6 cents, corn up 1-2, soy mixed

  • Wheat heads higher on technical buying and poor weather in Russia, Argentina and other wheat-producing countries that could tighten global exportable supplies.
  • Corn seen firm on technical buying and expectations of export demand from China. Fresh export sales may lend support.
Published 23 Oct, 2020 07:29pm
Financial

Yields at four-month highs, curve steepens on stimulus hopes

  • US House Speaker Nancy Pelosi on Thursday said negotiators were making progress in talks with the White House for another round of COVID-19 stimulus.
  • The market's playing out inflation expectations here, based on expectations that there's more stimulus and, if Biden gets in,
Published 23 Oct, 2020 07:25pm

BR Research

BR Research
Time to go long

Time to go long

The current account is in surplus after 21 quarters of deficits. When the incumbents came to power, the first ...
Published 23 Oct, 2020 07:40am
BR Research

Allied Bank defies Covid

Pandemic it maybe. But panic it is not. Not at Allied Bank Limited (ABL). The bank announced its financial results...
Published 23 Oct, 2020 07:38am
BR Research

Dadex Eternit Limited

Dadex Eternit Limited (PSX: DADX) was established in 1959 as a public limited company under the repealed Companies...
Published 23 Oct, 2020 07:25am

Pakistan

Gold prices decrease Rs350 to Rs115,350

  • Likewise, the price of 10 grams gold also decreased by Rs. 300 and was traded at 98,894 against its sale at Rs. 99,194 Karachi Sarafa Association reported.
Published 23 Oct, 2020 11:13pm

Dry weather forecast for city

  • On Friday, maximum and minimum temperatures were recorded as 32.7 degree centigrade and 16.5 degree centigrade respectively.
Published 23 Oct, 2020 11:08pm

NAB launches another inquiry against NBP President

The Bureau sought out records from the secretary board of directors of the band. The accountability watchdog is already investigating illegal appointments and promotions case against Ahmed. Updated 23 Oct, 2020 09:06pm

Latest

Business

An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University

An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University
Ahmed Mushfiq Mobarak is a Professor of Economics at Yale University with concurrent appointments in the School of Management and in the Department of Economics. In this interview he has shared his views on a wide range of topics; Insights from his research on the Covid-19 crises, Productivity, Policy Making and Governance , Political Economy and Economic teaching . He has discussed these things in regards to Bangladesh’s success story and how can Pakistan learn from it. Updated 23 Oct, 2020 10:03am

World

Coronavirus toll at 1100 GMT Friday

  • Based on latest reports, the countries with the most new deaths were the United States with 1,035 new deaths, followed by India with 690 and Brazil with 497.
Published 23 Oct, 2020 11:25pm
Europe

Euro zone economy at risk of double-dip recession

  • Euro zone private sector activity shrinks in October, PMIs show.
  • Surveys likely to heighten expectations for double-dip recession.
  • Services activity shrinks as manufacturing booms, PMIs show.
Published 23 Oct, 2020 05:03pm
South Asia

Iran blacklists US ambassador in Iraq, reciprocating US move

  • Ambassador Matthew Tueller "has had a central role in coordinating terrorist acts in Iraq & beyond" including the assassination of Iranian commander Qassem Soleimani.
  • Tehran's move, which allows the seizure of assets within Iran of sanctioned individuals.
Published 23 Oct, 2020 07:17pm

Containing fire risks

Outbreak of fires in business/industrial centres is becoming an increasing concern. In the latest incident on ...

The Hekmatyar visit

EDITORIAL: Former Afghan warlord and leader of Hizb-e-Islami Gulbuddin Hekmatyar coming to Pakistan as an ambassador...

PIA losses

EDITORIAL: Senate Standing Committee on Aviation was briefed on the existing financial instability and future vision...
An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University

An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University

Ahmed Mushfiq Mobarak is a Professor of Economics at Yale University with concurrent appointments in the School of Management and in the Department of Economics. In this interview he has shared his views on a wide range of topics; Insights from his research on the Covid-19 crises, Productivity, Policy Making and Governance , Political Economy and Economic teaching . He has discussed these things in regards to Bangladesh’s success story and how can Pakistan learn from it.