Latest - Business Recorder

Pakistan

Smart lockdown to be imposed in areas where coronavirus cases reported: CM

He informed that out of 104,016 confirmed coronavirus patients 97,431 had been recovered so far.

Published 31 Oct, 2020 11:39pm

Pakistan

Government fully facilitating business community: Governor Sarwar

He paid best tribute to Pakistani business community and said that they had successfully run their business during the challenging time of coronavirus.

Published 31 Oct, 2020 11:35pm

Pakistan

Govt slashes petrol prices by Rs1.57 per litre

The prices of Kerosene oil and Light Diesel Oil will remain unchanged at Rs. 65.29 per litre and Rs. 62.86 per litre respectively, the press statement added.

Published 31 Oct, 2020 11:33pm

Pakistan

Govt devises strategy to provide basic commodities: Dr Yasmin

She said that these Sahulat Bazars had been opened on the directions of Prime Minister Imran Khan and Chief Minister Sardar Usman Buzdar to facilitate the people.

Published 31 Oct, 2020 11:31pm

Pakistan

Fawad criticises PML-N leaders for targeting national institutions

He further stated that people had elected Imran Khan as Prime Minister of to carry forward accountability against the corrupt people.

Published 31 Oct, 2020 11:30pm

Pakistan

Shibli terms Ayaz Sadiq's statement as baseless

The country was came into being on ideological basis and those who were involved in its defamation would be exposed, he added.

Published 31 Oct, 2020 11:28pm

Pakistan

Hamad assures approval of soft loans to trade & industry affected

The minister acknowledged that not only the trade and industry remained shut during the lockdown but the employers felt compelled to carry out the downsizing.

Published 31 Oct, 2020 11:27pm

Pakistan

Local LPG price increases by Rs114.05 per 11.8-kg cylinder

After the revised price, the cylinder would be sold in the open market at Rs. 1,530.34, which was available at Rs. 1,416.29 during the month of October.

Published 31 Oct, 2020 11:25pm

Pakistan

PML-N losing popularity for supporting Indian media narrative: Usman Dar

Usman Dar said that accountability process would continue unabatedly to wipe out corruption from the society, he added.

Published 31 Oct, 2020 11:21pm

Pakistan

Yasmin expresses concern over increasing cases of COVID-19

The increasing number of coronavirus patients during last two weeks was factually a matter of great concern, she said while talking to a private news channel.

Published 31 Oct, 2020 11:20pm

Pakistan

Aleem Khan criticizes Ayaz Sadiq for irresponsible statement

He said that stubborness of Ayaz Sadiq had crossed all the limits, adding that Ayaz Sadiq's statement was not only anti state but against the constitution as well.

Published 31 Oct, 2020 11:18pm

Pakistan

Pakistan rejects Modi’s remarks insinuating its involvement in Pulwama attack

The spokesperson termed the move as brazen attempt to twist the remarks of the Federal Minister.

Updated 31 Oct, 2020 09:39pm

Business

Ford sells struggling Brazil factory

A previous agreement to sell the factory in Sao Bernardo do Campo, which makes the poor-selling Ford Fiesta as well as buses, to Brazilian automaker CAOA fell through last year.

Updated 31 Oct, 2020 09:01pm

Sports

Gayle fined for flinging bat after missing IPL century

The 41-year-old was fined 10 percent of his match fee for a "code of conduct" violation, said IPL statement.

Published 31 Oct, 2020 06:14pm

Pakistan

Security forces foil major terrorist activity in Southern Balochistan: ISPR

The military’s media wing said that the wanted terrorist was involved in the killing of innocent people, extortion and attacking security forces.

Updated 31 Oct, 2020 09:35pm

Markets

Libya oil production rises to 800,000 bpd

Libya's National Oil Corp (NOC) on Monday ended force majeure on the last facilities closed by an eight-month blockade of oil exports by eastern forces.
The blockade in January slashed the OPEC member's oil production to around 100,000 bpd from 1.2 million bpd.

Updated 31 Oct, 2020 08:25pm

Sports

World No. 2 Halep tests positive for COVID-19

Hi everyone, I wanted to let you know that I tested positive for COVID-19.
"I feel good ... we will get through this together."

Published 31 Oct, 2020 06:07pm

World

Erdogan says Turkey in economic war against interest, exchange rates

Erdogan, a self-described enemy of high interest rates, has said they cause high inflation, and has repeatedly called for lower borrowing costs.
Turkey's lira has lost around 30 percent of its value this year, and economists expect the central bank to continue hike rates after a 200 bps hike last month.

Published 31 Oct, 2020 06:07pm

World

Rescuers race to find Turkey quake survivors, 28 dead

The government's disaster agency AFAD said 100 people have been rescued.

Published 31 Oct, 2020 06:00pm

Life & Style

Former James Bond actor Sean Connery dies aged 90

Connery was raised in near poverty in the slums of Edinburgh and worked as a coffin polisher.
He would introduce himself in the movies with the signature line, "Bond - James Bond." But Connery was unhappy being defined by the role and once said he "hated that damned James Bond".

Published 31 Oct, 2020 05:53pm

Business

KLM pilots will not agree to wage freeze demanded by Dutch government

A move that could endanger efforts to secure the company's future amid the coronavirus pandemic.
The union said in a statement they did not have enough time to agree to a longer wage freeze as demanded by The Hague.

Published 31 Oct, 2020 05:41pm

Markets

Commission cuts EU-27 maize crop estimate to 60mn tonne

A hot, dry summer in some major grain growing areas in the bloc lead several forecasters to severely reduce their estimates for crops such as maize (corn).
The EU executive left unchanged its forecast for EU-27 exports of common wheat, or soft wheat.

Published 31 Oct, 2020 05:38pm

World

Philippines evacuates nearly 1 million as world's strongest 2020 typhoon approaches

World's strongest typhoon to hit land early Saturday
Violent winds, strong rains in most affected areas
Philippines still reeling from COVID-19 pandemic.

Published 31 Oct, 2020 05:33pm

World

Indian Air Force conducts long-range BrahMos cruise missile test

The Indian Air Force has conducted a long-range BrahMos strike mission, with the missile launching from an air base in Punjab, refuelling in mid-air and hitting its target on a ship nearly 4000km away in the Indian Ocean.

Published 31 Oct, 2020 05:30pm

World

Canadian PM Justin Trudeau says freedom of expression not without limits

"We do not have the right for example to shout fire in a movie theatre crowded with people, there are always limits," he argued.

Updated 31 Oct, 2020 06:11pm

Business

Chinese smartphone maker Xiaomi sold more smartphones than Apple

According to the report, Samsung's sales in the third quarter of 2020 have increased by about 2 percent compared to the quarter of 2019, after which Samsung is at the top with 80.4 million smartphone units sold.

Published 31 Oct, 2020 03:48pm

Business

Alibaba-owned Lazada Reports Data Hack of 1.1 Million Accounts

Lazada Group reports a data breach of 1.1 million accounts from its Redmart online supermarket site.

Published 31 Oct, 2020 03:38pm

Pakistan

I have 'many secrets' but never made irresponsible statements: Ayaz Sadiq defends his Abhinandan release remarks

“I stand by my stance. In the coming days, you will see that Pakistan has a clear message for India: that we as the Pakistani nation are one. We have political differences, but we are one against India," says former NA Speaker.

Updated 31 Oct, 2020 09:24pm

World

US doctors lie about COVID-19 deaths for money: Trump

He said that in Germany and other countries, when a person who dies from cancer or any other terminally ill disease, he is said to have died from that same disease. However, when it comes to doctors in the US, they lie and say the patient died of the coronavirus.

Published 31 Oct, 2020 03:10pm

Business

ECC Agrees to Cut Telecom Sector Taxes

The Economic Coordination Committee (ECC) of the Cabinet has agreed to reduce taxes in the Telecommunications sector by setting a sub-committee to resolve this issue.

Published 31 Oct, 2020 02:50pm

Business

Govt raise medicine rates for the second time in October

According to the notification of the federal government across Punjab, the prices of every medicine went up for the second time in the month of October.

Published 31 Oct, 2020 02:27pm

PM offers to help quake-hit Turkey in every way Pakistan can

"We can never forget the way Turkey stood with us when the devastating earthquake hit Pak & AJK in 2005," the PM said.

Updated 31 Oct, 2020 09:36pm

World

Turkey-Greece earthquake: 25 dead, rescue efforts under way

The earthquake, of magnitude of 6.9, struck at 2.51pm (11:51 GMT) in Turkey. Its epicentre was in the Aegean northeast of Samos.

Published 31 Oct, 2020 02:03pm

World

Libyan Prime Minister retracts resignation, amidst ongoing Intra-Libyan political dialogue

Libyan Prime Minister Fayez al-Serraj has retracted his decision to resign, and will remain in office until the ongoing intra-Libyan political dialogue concludes.

Updated 31 Oct, 2020 02:34pm

World

PM Modi flaunts India's military strength, slams opposition groups for political opportunism

Upon addressing the country on the occasion of Rashtriya Ekta Divas, which marks the 145th birth anniversary of Sardar Vallabhbhai Patel, Prime Minister Narendra Modi urged the electorate "not to play into the hands" of those who questioned the sacrifice of the soldiers in the aftermath of the Pulwama Attack.

Published 31 Oct, 2020 01:41pm

Technology

Instagram pauses 'recent' search listings on U.S. site to stop fake election news

For users in the United States, Instagram will temporarily remove the “Recent” tab from hashtag pages starting Thursday, it said in a statement on Twitter.

Published 31 Oct, 2020 01:36pm

Business

Ant Group's IPO sees record $3 trillion in retail demand

Ant’s dual listing is set to raise about $34.4 billion, split fairly evenly between Shanghai’s STAR Market and Hong Kong, topping Saudi Aramco’s $29.4 billion listing last December.

Published 31 Oct, 2020 01:30pm

Business

Amazon tells India regulator its partner Future Retail is misleading public

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries Ltd for $3.4 billion. The deal, Amazon alleges, breaches 2019 agreements by Future.

Published 31 Oct, 2020 01:27pm

World

Afghan government releases 5600 Taliban prisoners, as peace negotiations continue to stall

The Afghan government has released 5600 Taliban insurgent prisoners, as a part of the conditions ahead of the peace negotiations between the two warring parties.

Published 31 Oct, 2020 01:25pm

Life & Style

Scarlett Johansson ties knot with comedian Colin Jost in a lowkey ceremony

Johansson is one of the world’s highest-paid actresses.

Published 31 Oct, 2020 12:58pm

Business

Bukhari invites US to travel and seek investment opportunities in Pakistan

There are a plethora of opportunities not just for those who are keen to travel to discover the world but also for those who are on the lookout for investment possibilities that offer promising returns, said Bukhari.

Published 31 Oct, 2020 12:47pm

‘I promise you as president, Islam is going to be treated like it should be’: Joe Biden

He has also vowed to repeal President Donald Trump's Muslim ban on his first day in office.

Published 31 Oct, 2020 12:15pm

Business

World’s top apparel brands Target, Hugo Boss shifting orders to Pakistan

“This is a good trend and I am very hopeful that this will continue. I hope that the exporters will capitalize on this opportunity,” he added.

Published 31 Oct, 2020 12:03pm

Business

Ships carrying wheat, sugar arrive in Pakistan

Pakistan is facing some 2.5 to 3 million metric tons shortage of wheat due to lower crop output during this season. Initially, the federal government allowed duty-free import of 3 million tons of the commodity including 1.5 million tons through TCP and the same quantity allocated to the private sector.

Published 31 Oct, 2020 11:39am

World

Man rams car into Masjid-e-Haram's door

The police have arrested the driver.

Published 31 Oct, 2020 11:22am

Business

SBP’s policy initiatives amid COVID provided stimulus of around Rs 1.6tr: Baqir

The country’s central bank head in the State Bank of Pakistan Annual Report FY20 was of the view that despite numerous challenges during FY20, Pakistan’s economy performed relatively better, particularly on the external and fiscal fronts.

Published 31 Oct, 2020 11:11am

No favorites; just one point agenda in Afghanistan: no future govt can allow India to operate against us: PM

"Pakistan expects evenhanded treatment from the US with respect to India, especially with the dispute in Kashmir," the PM said.

Updated 31 Oct, 2020 12:42pm

Business

US plans to sell 50 F-35 jets to UAE

The UAE, has long expressed its intention in acquiring the stealthy F-35 jets and was promised a chance to buy them in a side deal when it agreed to normalize relations with Israel.

Published 31 Oct, 2020 10:51am

Business

U.S. approves combination of Pfizer's Upjohn and Mylan

The European Union has already approved the proposed transaction.

Published 31 Oct, 2020 10:42am

Pakistan

Pakistani police fire teargas at protesters trying to approach French Embassy

Around 3,000 protesters gathered in Islamabad to demonstrate at the French Embassy against the printing of images depicting the Prophet Muhammad.

Published 31 Oct, 2020 10:35am

Business

Euro zone economy surges in third quarter before expected blow from new lockdowns

Gross domestic product in the 19 countries sharing the euro surged 12.7% quarter-on-quarter in the third quarter after contracting 11.8% in the second, the European Union’s statistics office, Eurostat, said. Economists polled by Reuters had expected a 9.4% quarterly rise.

Published 31 Oct, 2020 10:31am

Business

Nestle buys U.S. meal delivery group Freshly

The purchase marks another deal for Nestle boss Mark Schneider, who has bought and sold around 50 businesses since taking over in 2017.

Published 31 Oct, 2020 10:12am

Technology

Russian, Iranian and other hackers target 2020 U.S. election

Below is a partial list of the publicly reported hacks and disinformation operations blamed on foreign actors in the run-up to next week’s vote.

Published 31 Oct, 2020 10:09am

Business

Chevron, Exxon shrink spending as coronavirus cuts demand

In common with others in the sector, the two are laying off a substantial portion of their workforce and expect to cut costs further as they try to reverse years of weak stock performance, worsened by the impact of movement restrictions.

Published 31 Oct, 2020 10:06am

Perspectives

Why Enhancement in Logistics is Significant for Better Growth of E-Commerce Industry in Pakistan?

The e-commerce industry in Pakistan is proliferating for the last few years while building the trust of the ...

Published 30 Oct, 2020 08:11pm

World

Magnitude 7.0 earthquake rattles Turkey, Greece; buildings collapse

The tremor, about 17km (11 miles) off the coast of western Izmir province, was felt in Athens and Istanbul, the US Geological Survey (USGS) said.

Updated 30 Oct, 2020 07:15pm

Pakistan

Tiger Force gets headquarters at ASTP in Lahore

The Special Assistant to the Prime Minister on Youth Affairs Usman Dar, who is heading the force, will also sit in the ASTP to look after the matters related to it.

Updated 31 Oct, 2020 12:46pm

Technology

SpaceX’s Starlink satellite internet can provide 97.5% coverage in Karachi

The test run for the internet service could cost users up to $99 a month, plus $499 for a setup kit as Elon Musk’s space company pushes to offer fast internet speeds to rural customers with limited options.

Published 30 Oct, 2020 05:33pm

Pakistan

CAA issues new travel advisory amid COVID-19 cases surge in Pakistan

The latest advisory divides international travelers into two categories A – will not need a negative COVID-19 test – and B – will be required to undergo coronavirus screening 96 hours prior to boarding a flight to Pakistan.

Updated 30 Oct, 2020 04:28pm

BR Research

Concessional schemes driving private sector credit

Loans to private sector businesses have continued to decline since December 2019, plateauing around Rs6.14 trillion...

Published 30 Oct, 2020 03:00pm

Gainers
Losers
Leaders

Stock	Price
Saritow Sp. / Oct 31 Saritow Spinning Mills Limited(SSML)	4.6000 ▲ 0.89 (23.99%)
Drekkar Kingsway / Oct 31 Drekkar Kingsway Limited(DKL)	6.7000 ▲ 0.70 (11.67%)
Hira Tex. / Oct 31 Hira Textile Mills Limited(HIRAT)	3.0500 ▲ 0.30 (9.12%)
Shabbir Tiles / Oct 31 Shabbir Tiles & Ceramics Limited(STCL)	16.1400 ▲ 1.44 (8.84%)
Summit Bank / Oct 31 Summit Bank Limited(SMBL)	1.9000 ▲ 0.15 (8.57%)
Olympia Mills / Oct 31 Olympia Mills Limited(OML)	11.9000 ▲ 0.90 (8.18%)
Kohinoor Ind. / Oct 31 Kohinoor Industries Limited(KOIL)	8.0000 ▲ 0.50 (6.67%)
Dewan Farooq. Spin. / Oct 31 Dewan Farooque Spinning Mills Limited(DFSM)	2.0000 ▲ 0.11 (5.82%)
D.S. Ind. Ltd. / Oct 31 D.S. Industries Limited(DSIL)	2.2900 ▲ 0.09 (4.09%)
Gharibwal Cem. / Oct 31 Gharibwal Cement Limited(GWLC)	31.2000 ▲ 1.18 (3.63%)

Stock	Price
Crescent Star / Oct 31 Crescent Star Insurance Limited(CSIL)	2.7000 ▼ 0.05 (-1.85%)
Pak Rein. / Oct 31 Pakistan Reinsurance Company Limited(PAKRI)	26.2500 ▼ 0.25 (-0.95%)
Ghani Val. Glass / Oct 31 Ghani Value Glass Limited(GVGL)	42.2500 ▼ 1.25 (-0.73%)
Hum Network / Oct 31 Hum Network Limited(HUMNL)	7.4000 ▼ 0.09 (-0.68%)
Descon Oxy. / Oct 31 Descon Oxychem Limited(DOL)	32.0833 ▼ 0.28 (-0.57%)
Cherat Packaging / Oct 31 Cherat Packaging Limited(CPPL)	204.7500 ▼ 1.75 (-0.49%)
Flying Cement Ltd / Oct 31 Flying Cement Company Limited(FLYNG)	10.2400 ▼ 0.09 (-0.49%)
Azgard Nine / Oct 31 Azgard Nine Limited(ANL)	21.0525 ▼ 0.15 (-0.48%)
Habib Bank Ltd. / Oct 31 Habib Bank Limited.(HBL)	131.2000 ▼ 0.95 (-0.40%)
Pak Oxygen / Oct 31 Pakistan Oxygen Limited(PAKOXY)	151.0000 ▼ 0.45 (-0.28%)

Stock	Volume
Unity Foods / Oct 31 Unity Foods Limited(UNITY)	36,191,000 ▼ 0.39
Pak Int.Bulk Ter / Oct 31 Pakistan International Bulk Terminal Limited(PIBTL)	19,376,500 ▼ 0.14
Hascol Petroleum / Oct 31 Hascol Petroleum Limited(HASCOL)	14,087,709 ▼ 0.10
Maple Leaf / Oct 31 Maple Leaf Cement Factory Limited(MLCF)	13,342,354 ▼ 0.58
Shabbir Tiles / Oct 31 Shabbir Tiles & Ceramics Limited(STCL)	12,744,000 ▼ 1.44
Power Cement / Oct 31 Power Cement Limited(POWER)	10,596,500 ▼ 0.08
Pakistan Refinery / Oct 31 Pakistan Refinery Limited(PRL)	8,876,500 ▼ 0.09
TRG Pak. / Oct 31 TRG Pakistan Limited(TRG)	8,275,000 ▼ 0.56
Fauji Cem. / Oct 31 Fauji Cement Company Limited(FCCL)	6,258,500 ▼ 0.20
Kot Addu / Oct 31 Kot Addu Power Company Limited(KAPCO)	5,871,000 ▼ 0.33

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Oct 30	160.25
USD PKR Interbank Buying / Oct 30	160.20
USD to Japanese Yen / Oct 30	104.63
USD to Swiss Franc / Oct 30	0.92
Pound Sterling to USD / Oct 30	1.29
Euro to USD / Oct 30	1.17

Stock	Volume
S&P 500 / Oct 30	3310.11
India Sensex / Oct 30	39749.85
Tokyo Nikkei / Oct 30	23331.94
Nasdaq / Oct 30	11185.59
Hang Seng / Oct 30	24586.60
FTSE 100 / Oct 30	5581.75
Dow Jones / Oct 30	26659.11
Germany DAX 30 / Oct 30	11598.07
France CAC40 / Oct 30	4569.67

Indicator	Value
Weekly Foreign Reserves / Oct 29	19301.60
GDPGROWTH / Oct 29	5.40
Foreign Debt (PKR billions) / Oct 29	15087.50
Per Capita Income USD (CPI) / Oct 29	1516.00
Average CPI % / Oct 29	11.11
UK LIBOR % / Oct 30	0.08

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