Home - Business Recorder

Business & Finance Updated 15 Jun, 2021 07:53pm

FBR says 'no new tax' on salaried class, disagreement follows

Budget proposal to tax medical allowances comes under fire
Tax authority says withdrawing tax exemption and reduced rates should not be confused with imposition of new taxes
Issues response to report that said salaried class has been taxed

Pakistan

Sindh announces Rs1.48 trillion budget for FY22

Updated 15 Jun, 2021 05:39pm

Pakistan

Pakistan allows AstraZeneca shot for under 40s to help its expatriates

Published 15 Jun, 2021 06:25pm

Pakistan

After Punjab, Sindh also says it will block SIM cards of people refusing Covid-19 vaccines

Published 15 Jun, 2021 03:52pm

Pakistan

Sindh likely to receive first monsoon spell from June 16, predicts Met office

Updated 15 Jun, 2021 02:43pm

Pakistan

Twin orphaned bear cubs given shelter near Pakistan-India border

Updated 15 Jun, 2021 08:19pm

Pakistan reports lowest single-day Covid-19 tally since February

Published 15 Jun, 2021 09:30am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 14	156.20
USD PKR Interbank Buying / Jun 14	156.10
USD to Japanese Yen / Jun 14	110.05
USD to Swiss Franc / Jun 14	0.90
Pound Sterling to USD / Jun 14	1.41
Euro to USD / Jun 14	1.21
UK LIBOR % / Jun 14	0.06

Stock	Volume
S&P 500 / Jun 14	4255.15
India Sensex / Jun 14	52551.53
Tokyo Nikkei / Jun 14	29161.80
Nasdaq / Jun 14	14174.14
Hang Seng / Jun 14	28842.13
FTSE 100 / Jun 14	7146.68
Dow Jones / Jun 14	34393.75
Germany DAX 30 / Jun 14	15673.64
France CAC40 / Jun 14	6616.35

Item	Value
Crude Oil / Jun 14	71.00
Karachi Cotton Assoc. / Jun 14	12300.00
Gold 10 Grams / Jun 14	89163.00
Gold Spot / Jun 14	1868.50
Cotton / Jun 14	86.13

Gainers
Losers
Leaders

Stock	Price
Jahangir Siddiqui (R) / Jun 15 Jahangir Siddiqui & Co. Ltd (R)(JSCLR1)	7.01 ▲ 1.00 (16.64%)
Crescent Textile (R) / Jun 15 Crescent Textile Mills Ltd.(R)(CRTMR2)	7.76 ▲ 1.00 (14.79%)
Tri-Star / Jun 15 Tri-Star Mutual Fund Limited(TSMF)	5.85 ▲ 0.70 (13.59%)
Dar-es-Salaam / Jun 15 Dar-es-Salaam Textile Mills Limited(DSML)	8.50 ▲ 1.00 (13.33%)
K-Electric Ltd / Jun 15 K-Electric Limited(KEL)	4.70 ▲ 0.46 (10.85%)
A. Shah Ghazi / Jun 15 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	10.51 ▲ 1.00 (10.52%)
Escorts Bank / Jun 15 Escorts Investment Bank Limited(ESBL)	10.67 ▲ 1.00 (10.34%)
Ashfaq Textile / Jun 15 Ashfaq Textile Mills Limited(ASHT)	12.00 ▲ 1.00 (9.09%)
Khurshid Spinng / Jun 15 Khurshid Spinning Mills Limited(KHSM)	11.40 ▲ 0.90 (8.57%)
Power Cement Pref. / Jun 15 Power Cement Preference(POWERPS)	12.38 ▲ 0.88 (7.65%)

Stock	Price
Saudi Pak Leas. / Jun 15 Saudi Pak Leasing Company Limited(SPLC)	2.90 ▲ -0.27 (-8.52%)
Pak. P.V.C. / Jun 15 Pakistan PVC Limited(PPVC)	5.74 ▲ -0.49 (-7.87%)
TPL Ins. / Jun 15 TPL Insurance Limited(TPLI)	30.52 ▲ -2.47 (-7.49%)
IGI Life Ins. / Jun 15 IGI Life Insurance Limited(IGIL)	44.87 ▲ -3.63 (-7.48%)
Sanghar / Jun 15 Sanghar Sugar Mills Limited(SANSM)	19.43 ▲ -1.57 (-7.48%)
Shadman Cotton / Jun 15 Shadman Cotton Mills Limited(SHCM)	28.00 ▲ -2.26 (-7.47%)
Universal Ins. / Jun 15 The Universal Insurance Company Limited(UVIC)	5.68 ▲ -0.43 (-7.04%)
Data Agro / Jun 15 Data Agro Limited(DAAG)	20.04 ▲ -1.45 (-6.75%)
First Pak Modaraba / Jun 15 First Pak Modaraba(PAKMI)	2.65 ▲ -0.19 (-6.69%)
Pervez Ahmed Cons. / Jun 15 Pervez Ahmed Consultancy Services Ltd.(PASL)	1.45 ▲ -0.10 (-6.45%)

Stock	Volume
K-Electric Ltd / Jun 15 K-Electric Limited(KEL)	312,434,000 ▼ 0.00
Worldcall / Jun 15 Worldcall Telecom Limited(WTL)	146,782,500 ▼ 0.00
Byco Petr. / Jun 15 Byco Petroleum Pakistan Limited(BYCO)	128,292,500 ▼ 0.00
Hascol Petroleum / Jun 15 Hascol Petroleum Limited(HASCOL)	57,725,954 ▼ 0.00
Power Cement / Jun 15 Power Cement Limited(POWER)	29,663,000 ▼ 0.00
Ghani Global Hold. / Jun 15 Ghani Global Holdings Limited(GGL)	26,068,500 ▼ 0.00
Hum Network / Jun 15 Hum Network Limited(HUMNL)	25,237,000 ▼ 0.00
Maple Leaf / Jun 15 Maple Leaf Cement Factory Limited(MLCF)	24,760,482 ▼ 0.00
Flying Cement / Jun 15 Flying Cement Company Limited(FLYNG)	22,955,500 ▼ 0.00
Pak Int.Bulk Ter / Jun 15 Pakistan International Bulk Terminal Limited(PIBTL)	22,826,500 ▼ 0.00

Markets →

Business & Finance

Commodities

Copper hits 7-week low as funds, traders cut long positions

"The next leg of the rally will be led by the physical market around the third quarter when the whole supply chain has used up its stocks."
Aluminium was down 1.8% at $2,449.50 a tonne, zinc fell 1.4% to $3,002, lead slipped 1.2% to $2,185, tin dropped 1.4% to $31,217 and nickel ceded 2.9% to $17,938.

Published 15 Jun, 2021 09:03pm

BR Research

Punjab budget puts health & education first

Punjab Government has presented a budget total outlay of Rs2.6 trillion yesterday. The first impression about the...

Published 15 Jun, 2021 07:25am

Energy

Oil trades at multi-year highs on demand expectations

Vitol CEO sees oil price around $70-$80/bbl this year.
Trafigura CEO says good chance oil gets to $100/bbl.
POLL-US crude inventories seen falling for 4th week in a row.
Coming Up: API data on US crude stocks at 4:30 p.m. ET.

Published 15 Jun, 2021 09:01pm

Commodities

Fed taper talk fears keep gold locked in tight range

May US retail sales fall, producer prices rise 0.8%.
Fed to announce QE taper in August or September –poll.
Fading ETF purchases will limit gold demand rise -Metals Focus.

Published 15 Jun, 2021 09:06pm

BR Research

Power subsidies: High yet adequate

Electricity tariffs are not going to go up in FY22. This is the loud and clear message from the budget document. The...

Published 15 Jun, 2021 07:30am

Stocks

Wall St dips after S&P 500 hits record high; Fed meeting in focus

US retail sales fall in May.
Ocugen jumps on partnership for US production of vaccine.
Fed kicks off two-day policy meeting.
Indexes down: Dow 0.22%, S&P 0.06%, Nasdaq 0.10%.

Published 15 Jun, 2021 08:59pm

Forex

World Bank calls on Nigeria to make forex system clear, NAFEX rate key

The Central Bank of Nigeria has recently opted for a gradual weakening of the official rate of the naira in an apparent move to allow it to converge with the NAFEX rate, a market-determined rate for investors and exporters.

Published 15 Jun, 2021 08:55pm

Stocks

TSX hits record high on energy boost

The energy sector climbed 1% tracking crude prices, which were buoyed by expectations that demand will recover rapidly in the second half of 2021.
Toronto Stock Exchange's S&P/TSX composite index was up 77.55 points, or 0.38%, at 20,235.2, an all-time high.

Published 15 Jun, 2021 08:57pm

Forex

Canadian dollar hits 1-month low as copper prices slide

Canadian dollar weakens 0.4% against the greenback.
Price of copper falls 3.6%.
Loonie touches its weakest level since May 13 at 1.2199.
Canadian housing starts rise 3.2% in May.

Published 15 Jun, 2021 08:53pm

Forex

Dollar edges higher after US inflation data as traders await Fed meet

Traders watching for clues on timing of Fed tapering.
Bitcoin lingers above $40,000 level.

Published 15 Jun, 2021 08:46pm

Forex

South African rand dips as markets await US Fed meeting

Rand traded at 13.8050 against the dollar, 0.2% weaker than its previous close.
South African financial markets will be closed for a public holiday on Wednesday when the Fed statement will be released.

Updated 15 Jun, 2021 08:46pm

BR Research

A regressive move for online marketplaces

During the past year and a half, e-commerce in Pakistan developed at a frenzied pace. The same was acknowledged by...

Published 15 Jun, 2021 07:35am

BR Research

Vaccine roll-out snapshot

Despite a feeble start to the vaccine roll-out, over the past two months, the Covid-19 vaccination program has taken...

Published 15 Jun, 2021 07:40am

BR Research PICT 170.00 ▼ -0.01%

Pakistan International Container

Pakistan International Container (PSX: PICT) was set up as a private limited company. The company provides container...

Published 15 Jun, 2021 07:45am

BR Research

PL target borders on the impossible

Crude oil averaged $66/bbl in the second half of FY21. The Petroleum Levy averaged Rs14/ltr during that period. The...

Published 14 Jun, 2021 07:25am

BR Research

High hopes for PSDP

One of the highlights of the FY22 federal budget is the massive hike in the federal Public Sector Development ...

Published 14 Jun, 2021 07:30am

BR Research

Is ‘Construction’ the hill to die on?

Construction amnesty scheme, tax exemptions and Rs30 billion subsidy for Naya Pakistan Housing Plan (NPHP) will jack...

Published 14 Jun, 2021 07:35am

Pakistan

Twin orphaned bear cubs given shelter near Pakistan-India border

Sharda and Narda were discovered last year by villagers at an altitude of 14,000 feet
Duo was nursed with bottled milk for two months, then raised on fruit and vegetables

Updated 15 Jun, 2021 08:19pm

Pakistan allows AstraZeneca shot for under 40s to help its expatriates

Approval comes to help people who need to travel for education and jobs abroad, particularly to Saudi Arabia
Saudi authorities have not approved Chinese shots, so people with only those vaccinations still need to quarantine

Published 15 Jun, 2021 06:25pm

Govt is making efforts to use EVMs in next general election: Fawad

Says PML-N is a modern form of 'East India Company' that looted the country's wealth

Updated 15 Jun, 2021 05:47pm

Sindh announces Rs1.48 trillion budget for FY22

Chief Minister Syed Murad Ali Shah, who also holds portfolio of finance minister, starts budget speech amid ruckus from opposition
Says provincial govt aims to create over 2,500 jobs in upcoming fiscal year

Updated 15 Jun, 2021 05:39pm

After Punjab, Sindh also says it will block SIM cards of people refusing Covid-19 vaccines

Announcement made by Sindh minister for information during inauguration of vaccination centre

Published 15 Jun, 2021 03:52pm

Gold prices increase by Rs400 to Rs110,100 tola

The price of per tola and ten gram silver remained stable.

Published 15 Jun, 2021 08:06pm

Police, shopkeepers clash during demolition of shopping mall, club in Karachi

Supreme Court had declared buildings illegal and ordered their demolition on Monday

Published 15 Jun, 2021 03:38pm

Rupee extends losses against dollar

Buying and selling rates of dollar were recorded at Rs 156.5 and Rs 157.5 respectively.

Updated 15 Jun, 2021 05:42pm

Latest

World

AstraZeneca hits snag in Covid drug development

Vaccine-maker says main goal to treat Covid-19 symptoms in exposed patients has failed

Published 15 Jun, 2021 05:42pm

World

Iran says it produced 6.5kg of uranium enriched to 60pc

Iran said in April it would begin enriching uranium to 60% purity, a move that would take the uranium much closer to the 90% suitable for a nuclear bomb,
Under parliament's law..., the Atomic Energy Organization was supposed to produce 120 kg of 20 percent enriched uranium in a year.

Updated 15 Jun, 2021 06:40pm

UAE extends travel ban on Pakistan till July 7

Allows UAE nationals, diplomatic missions, official delegations and holders of UAE Golden Visas to travel

Published 15 Jun, 2021 11:18am

Pakistan

Govt is making efforts to use EVMs in next general election: Fawad

Says PML-N is a modern form of 'East India Company' that looted the country's wealth

Updated 15 Jun, 2021 05:47pm

Technology

Pakistan's Saffran Group lands $3.2m order from Japanese company

Bears Inc. awards contract to build IT platform for its real estate business

Published 15 Jun, 2021 12:40pm

Pakistan

Police, shopkeepers clash during demolition of shopping mall, club in Karachi

Supreme Court had declared buildings illegal and ordered their demolition on Monday

Published 15 Jun, 2021 03:38pm

PM brings weaker sections of society under the spotlight

ISLAMABAD: Prime Minister Imran Khan on Monday said that the government was committed to provide all financial... Published 15 Jun, 2021 03:30am

Business & Finance

Emirates airline posts $5.5b annual loss, its first in over 30 years

Forced to temporarily suspend operations last year, airline saw revenue fall 66 percent to $8.4 billion.

Updated 15 Jun, 2021 01:33pm

World

AstraZeneca hits snag in Covid drug development

Vaccine-maker says main goal to treat Covid-19 symptoms in exposed patients has failed

Published 15 Jun, 2021 05:42pm

Europe

Turkey's Erdogan to visit symbolic Karabakh city

Turkey was a key backer of Azerbaijan during the conflict, which erupted in September and ended in a Russian-brokered ceasefire after six weeks of fighting and some 6,000 deaths.

Published 15 Jun, 2021 04:47pm

South Asia

Iran says it produced 6.5kg of uranium enriched to 60pc

Iran said in April it would begin enriching uranium to 60% purity, a move that would take the uranium much closer to the 90% suitable for a nuclear bomb,
Under parliament's law..., the Atomic Energy Organization was supposed to produce 120 kg of 20 percent enriched uranium in a year.

Updated 15 Jun, 2021 06:40pm

Middle East