Latest - Business Recorder

Biden heads for Georgia, Trump the Midwest as US election enters final week

Trump has focused on the unrest to bolster his claims to be the "law-and-order" candidate in his election battle against Biden.

Published 27 Oct, 2020 11:55pm

Business

Airline revenues forecast at half 2019 levels in 2021: IATA

IATA also urged airports and air traffic controllers not to increase their prices to cover shortfalls from the vastly lower traffic.

Published 27 Oct, 2020 11:52pm

In row with Macron, Erdogan seeks influence in Muslim world

The French leader's robust defence of the right to mock religion followed the beheading of a French schoolteacher who had shown his pupils cartoons of the prophet.

Published 27 Oct, 2020 11:50pm

Business

Spain to hike taxes on firms, the wealthy

EU finance ministers agreed in March to suspend stringent rules on running public deficits to allow member states to spend freely to tackle the impact of the pandemic.

Published 27 Oct, 2020 11:43pm

World

Four dead after migrant vessel capsizes in Channel

The issue has been a source of tension, with Britain accusing France of not doing enough to stop the crossings.

Published 27 Oct, 2020 11:41pm

Pakistan

Lucky Cement records CE of Rs5.13bn

During the first quarter 2020-21 under review, the company’s overall consolidated net profit increased by 242pc as compared to the same period last year.

Published 27 Oct, 2020 11:41pm

Pakistan

Govt not to let internal, external enemies to harm Pakistan: Shibli

Shibli Faraz said the country’s enemies were hatching conspiracies against the incumbent government and the opposition parties’ so-called protest movement was part of their designs.

Published 27 Oct, 2020 11:38pm

Pfizer says it could still deliver a Covid-19 vaccine in 2020

The year-ago period included a large gain connected to a transaction.

Published 27 Oct, 2020 11:37pm

Pakistan

CM Sindh approves 58 more seats for AJK students in public sector universities

The chief minister was told that there were 25 public sector universities in Sindh, including medical, engineering and general where AJK and Gilgit Baltistan have 162 seats.

Published 27 Oct, 2020 11:36pm

Business

Amazon and UPS ramp up hiring for holiday shopping blitz

E-commerce colossus Amazon announced it is creating more than 100,000 jobs in operations such as packing and delivering orders for its "peak season."

Published 27 Oct, 2020 11:36pm

Pakistan

CM approves release of 25,000-ton wheat to flour mills daily

In a statement issued here, the CM stated the decision was made to stabilise flour prices and pointed out that Punjab was the only province where 20kg flour bag was available for Rs. 860.

Published 27 Oct, 2020 11:35pm

Pakistan

Pakistan to continue moral, diplomatic support to Kashmiris struggling for freedom: Shibli

The minister said the United Nations had passed resolutions to resolve the Kashmir issue, which, unfortunately, were not implemented.

Published 27 Oct, 2020 11:33pm

Pakistan

Indian's brutalities can't stop freedom struggle in Kashmir: Dr Yasmin

The minister said Prime Minister Imran Khan has raised strong voice against Indian atrocities and the international community must notice the human rights violations in Kashmir.

Published 27 Oct, 2020 11:31pm

Pakistan

Bullion rates in Hyderabad gold market

Following were the bullion rates in Hyderabad gold market on Tuesday.

Published 27 Oct, 2020 11:29pm

Pakistan

Sindh Govt to conduct universities' monitoring working under its charter: CM Sindh

The chief minister said that after 18thamendment the provinces had established their provincial higher education commissions.

Updated 27 Oct, 2020 11:49pm

Pakistan

President Alvi urges more precaution against coronavirus

Earlier, President Dr. Arif Alvi inaugurated Coronavirus Heroes Wall – the wall built to pay tribute to those heroes who were in the vanguard of the fight against COVID-19.

Updated 27 Oct, 2020 11:49pm

World

China blasts 'bully' US ahead of Pompeo's Sri Lanka stop

Pompeo's visit went ahead despite a surge in coronavirus lockdowns in many parts of Colombo because of a surge in infections.

Published 27 Oct, 2020 11:25pm

Pakistan

COVID-19 claims 5 more lives, infects 335 others: CM Sindh

The CM said that 8860 samples were tested against which 335 new cases were diagnosed that constituted 3.8 percent current detection rate.

Updated 27 Oct, 2020 11:49pm

Pakistan

Shibli asks world community to ensure Kashmiris’ right to self determination

He said depriving the Kashmiri people of their basic right of self determination was an example of the double standards of the international community.

Published 27 Oct, 2020 11:23pm

Pakistan

Minister visits Fort Munro to monitor anti-polio campaign

She said that according to vision of Prime Minister Imran Khan, the Health department was striving to ensure best possible services for common man.

Published 27 Oct, 2020 11:21pm

UK trucker took 23 minutes to raise alarm over 39 dead migrants

Eamonn Harrison, 23, who is said to have driven the lorry to Zeebrugge, and Georghe Nica, 43, both deny 39 counts of manslaughter.

Updated 27 Oct, 2020 11:50pm

Pakistan

Peaceful neighborhood vital component of Pakistan’s foreign policy: Sanjrani

He also mentioned that Pakistan reopened a key border crossing to resume exports from Afghanistan to India under the Pakistan-Afghanistan Transit Trade Agreement.

Published 27 Oct, 2020 11:18pm

India’s arms amassing carries serious repercussions for regional peace: FO

“The recent unprecedented rate of missile tests conducted by India is yet another manifestation of dangerous Indian conventional and nuclear military build-ups,” the spokesperson said.

Published 27 Oct, 2020 11:17pm

Pakistan

CM condemns blast in Peshawar

The Punjab government fully shared the grief of the bereaved families, he said and added that this act of terrorism was highly condemnable.

Published 27 Oct, 2020 11:13pm

Pakistan

KP CM expresses satisfaction over progress on development activities in merged districts

He directed health, education and police departments to develop their work plans with regard to the requirements of infrastructure and human resources in merged districts.

Published 27 Oct, 2020 11:11pm

Pakistan

Moeed mulls over inter-ministerial coordination to achieve EOI objectives

During the meeting, important issues were discussed including key sectors and priorities of various ministries along with maximum economic potential.

Published 27 Oct, 2020 11:09pm

Pakistan

Govt striving to reduce inflation: Shafqat

The minister said prices of commodities had increased in the country, adding the government had taken decision to import wheat for controlling its shortage.

Published 27 Oct, 2020 11:07pm

Pakistan

CM announces compensation package for seminary blast victims

The Chief Minister has strongly condemned the incident of bomb blast at Dir Colony Peshawar and termed it as a brutal act.

Published 27 Oct, 2020 11:05pm

Pakistan

Govt approaching diplomatic channels to bring back Nawaz: Vawda

He termed the opposition parties a political orphan and they were trying to attack the institutions to get national reconciliation ordinance (NRO) which was impossible.

Published 27 Oct, 2020 11:04pm

Pakistan

SBP Governor for joint efforts to fight cancer

Around 90,000 new breast cancer cases were reported every year during immediate past years and about 50 percent of those patients lost their lives.

Published 27 Oct, 2020 11:01pm

Pakistan

PTI govt not to budge from accountability of corrupt: Shibli

Shibli Faraz said the opposition parties wanted to bring amendments in the laws pertaining to the National Accountability Bureau which suited them.

Published 27 Oct, 2020 10:58pm

Markets

S&P 500 flat after Monday's selloff as focus turns to corporate earnings

Xilinx jumps on $35 bln buyout deal from AMD.
Merck up after raising profit forecast.
- Pfizer, Eli Lilly fall after results.
Indexes: Dow down 0.26%, S&P flat, Nasdaq up 0.47%.

Published 27 Oct, 2020 08:50pm

Markets

TSX flat as downbeat earnings offset energy gains

The Toronto Stock Exchange's S&P/TSX composite index was down 7.43 points, or 0.05%, at 16,072.12.
On the TSX, 141 issues were higher, while 74 issues declined for a 1.91-to-1 ratio favouring gainers, with 15.65 million shares traded.

Published 27 Oct, 2020 08:48pm

Markets

Gold gains as dollar eases, coronavirus concerns persist

Spot gold was up 0.2% at $1,906.10 per ounce at 10:21 a.m. EST (1421GMT). US gold futures rose 0.2% to $1909.40.
Gold is stuck in a tight range and there's probably not going to be too much activity before the election, he added.

Updated 27 Oct, 2020 09:29pm

Markets

Latam FX bounce after soft start to the week, Brazil real pressured

The real fell 0.5%, pushing the MSCI's index for Latin American currencies 0.1% lower.
Latin American currencies started the week on the back foot on Monday but Chile's peso rose 0.6%, extending its winning streak to an eighth day.

Published 27 Oct, 2020 08:43pm

Business

Bank of England set to return to the stimulus pump

BoE expected to bolster bond-buying programme again.
Economists predict 100 billion-pound rise - Reuters poll.
Negative rates under feasibility review.
Markets have reduced bets on rates turning negative.

Published 27 Oct, 2020 08:41pm

Markets

Dollar dips after previous gains amid COVID-19, election uncertainty

Dollar gives up early gains, euro marginally higher.
FX markets in wait-and-see mode before US election.
Sterling gains as Brexit trade deal talks continue.

Published 27 Oct, 2020 08:39pm

Markets

Raw sugar hits 8-month high, robusta highest in nearly a month

Robusta coffee hit a one-month high as a powerful typhoon approaches top producer Vietnam.
December white sugar rose $4.8, or 1.2%, to $401.40 a tonne.

Published 27 Oct, 2020 08:35pm

Markets

Stocks wobble on COVID-19, election uncertainty; dollar dips

MSCI global stock gauge edges lower.
S&P, Dow drop, Nasdaq up; Europe stock indexes lower.
US Treasury yields lower on stimulus deal doubts.
Oil rises on US Gulf shutdowns.

Published 27 Oct, 2020 08:33pm

Business

Hyundai's Motional partners with Via to launch US robotaxi service in 2021

The partnership, which plans to launch the rides in the first half of 2021, aims to combine Motional's driverless vehicles with Via's technology that powers booking, routing passenger and vehicle assignment.
The partnership on Tuesday said it was working to ensure the health and safety of vehicle occupants.

Updated 27 Oct, 2020 09:29pm

Markets

EU + UK soybean imports 4.47mn tonne by Oct 25, rapeseed 2.06mn tonne

That was 4% above the volume imported in the previous 2019/20 season, the data showed.
Soymeal imports in 2020/21 came to 5.62 million tonnes, down 12%, while palm oil imports stood at 1.95 million tonnes, up 3%.

Published 27 Oct, 2020 08:29pm

Pakistan

Peshawar attack: Afghan peace process may have been the target

The Peshawar attack may have been the work of the spoilers of the Afghan peace process.

Updated 27 Oct, 2020 10:54pm

Markets

EU + UK soft wheat exports 6.44mn tonne by Oct. 25, down 30pc

That was 30% below the volume cleared by Oct. 27 last year.
This week's data includes the previous week's totals which were not published due to a technical problem.

Updated 27 Oct, 2020 08:29pm

World

Bloomberg is funding late $15mn push to help Biden in Texas, Ohio

Bloomberg asked his team to see polling data from multiple states and after reviewing the numbers on Monday decided to invest additional money to support Biden in Texas and Ohio.
Bloomberg will also increase pro-Biden advertising in Florida, fortifying a campaign that began mid-September with daily ads in 10 Florida media markets.

Published 27 Oct, 2020 07:19pm

Markets

Canadian dollar strengthens as global risk aversion subsides

Canadian dollar rises 0.2% against the greenback.
Loonie trades in a range of 1.3156 to 1.3212.
Price of US oil increases 0.4%.
Canadian bond yields ease across much of a flatter curve.

Published 27 Oct, 2020 07:16pm

Business

Lufthansa braces for very slow recovery in passenger demand

First-quarter capacity is expected to be up to 25% of pre-crisis levels, unchanged from the current quarter and well short of the 50% previously envisaged by the end of this year.
Business customers, traditionally the carrier's cash cow, remain a rarity but are returning on the carrier's China routes.

Published 27 Oct, 2020 07:13pm

Business

China phases out use of 'X-factor' in managing yuan value

The China Foreign Exchange Trade System said in a statement it would change the price adjustment model of the central parity rate of the yuan versus the dollar to promote transparency and efficiency.
"This does not necessarily mean that they are seeking to actively weaken the yuan - it is just that those tools are no longer needed."

Published 27 Oct, 2020 07:11pm

Markets

US natgas eases from 21-month high as power generators burn more coal

On their second to last day as the front-month, gas futures for November delivery fell 2.3 cents, or 0.8%, to $3.001 per million British thermal units.
December futures, which will soon be the front-month, were down six cents to $3.19 per mmBtu.

Published 27 Oct, 2020 07:03pm

Pakistan

Twitter verifies 45 govt of Pakistan, representatives accounts

The General Manager of DMW, Imran Ghazali termed it small but important step as part of the overall strategy to strengthen the digital presence of government of Pakistan.

Updated 27 Oct, 2020 08:47pm

Pakistan

Razak urges exporters to enhance presence in global markets

He said that with the world returning to lockdowns, amid Covid-19 resurgence, the demand for our exports may also be affected.

Updated 27 Oct, 2020 08:54pm

Pakistan

Gold prices declines Rs750 to Rs114,500

The price of 10 grams gold is decreased by Rs643.

Updated 27 Oct, 2020 09:02pm

Pakistan

Rupee gains 14 paisas against US dollar

The buying and selling rates of dollar were recorded at Rs 160.3 and Rs 161 respectively.

Updated 27 Oct, 2020 09:03pm

Pakistan

SBP brings new mechanism on disinvestment proceeds remittance

The new mechanism also incorporates feedback received from investors and other stakeholders, said SBP release.

Published 27 Oct, 2020 06:58pm

Pakistan

Pakistan’s exports to Afghanistan decrease by 13.98pc in Q1

Imports from Afghanistan during the period under review was recorded at US $ 17.820 million against US $25.453 million last year, showing decline of 29.98 percent in July-September (2020-21).

Published 27 Oct, 2020 06:57pm

Markets

Property shares buoy UAE bourses; Egypt snaps losing streak

Aldar extends gains on govt capital projects.
The worst is over for oil market - Saudi energy minister.
National Commercial Bank's Q3 profit rises.

Published 27 Oct, 2020 06:55pm

Business

Facebook's top India lobbyist Das quits after content row

Das, who was Facebook's public policy head for India, South & Central Asia, has decided to step down to pursue her interest in public service.
The WSJ "article does not reflect the person I know or the extraordinarily complex issues we face everyday that benefits from Ankhi and the Public Policy team's expertise.

Published 27 Oct, 2020 06:53pm

Pakistan

Launching stroke prevention programs, establishment of national treatment center urged

"In addition to launching national and provincial stroke prevention programs, there is an urgent need to have a national stroke treatment center and research institute in Karachi like National Institute of Cardiovascular Diseases (NICVD)," says Dr. Wasey.

Updated 27 Oct, 2020 09:28pm

Pakistan

Pak-Qatar Takaful group holds webinar on understanding takaful products

"Takaful is a community-pooling system based on the principles of brotherhood and mutual help wherein participants contribute in a common fund to help those who need it the most,” says Mufti Hassaan Kaleem.

Published 27 Oct, 2020 06:27pm

Sports

'Don't retire': 'Universe Boss' Gayle still IPL force at 41

Gayle was benched for the early part of the IPL and then missed games over a stomach bug, but he has responded in style.

Published 27 Oct, 2020 06:19pm

Business

Japan's ANA predicts record $4.87bn net loss for 2020/21

Revenue plunged 72 percent to 291.8 billion yen for the six months.

Published 27 Oct, 2020 06:14pm

Gainers
Losers
Leaders

Stock	Price
Dandot Cement / Oct 28 Dandot Cement Company Limited(DNCC)	11.0200 ▲ 0.52 (2.86%)
SME Leasing Ltd. / Oct 28 SME Leasing Limited(SLL)	3.6000 ▲ 0.61 (1.00%)
Chashma / Oct 28 Chashma Sugar Mills Limited(CHAS)	96.5000 ▲ 0.50 (0.52%)
Pak PaperProd / Oct 28 Pakistan Paper Products Limited(PPP)	101.4500 ▲ 2.45 (0.29%)
Nishat Power / Oct 28 Nishat Power Limited(NPL)	23.0067 ▲ 0.01 (0.03%)
Dawood Lawrencepur / Oct 28 Dawood Lawrencepur Limited(DLL)	195.0000 ▲ 4.02 (0.01%)
Ellcot Sp. / Oct 28 Ellcot Spinning Mills Limited(ELSM)	94.5000 ▼ 0.00 (0.00%)
Macter Int. Ltd. / Oct 28 Macter International Limited(MACTER)	125.1000 ▼ 0.00 (0.00%)
Shield Corp. / Oct 28 Shield Corporation Limited(SCL)	270.0000 ▼ 0.00 (0.00%)
Sindh Modaraba / Oct 28 Sindh Modaraba(SINDM)	8.9900 ▲ 0.32 (0.00%)

Stock	Price
Askari Life Assur. (R) / Oct 28 Askari Life Assurance Company Limited (R)(ALACR4)	0.0700 ▼ 0.05 (-71.43%)
Tri-Star Power / Oct 28 Tri-Star Power Limited(TSPL)	4.1900 ▼ 0.59 (-14.08%)
Apna Microfin.Bank / Oct 28 Apna Microfinance Bank Limited(AMBL)	25.3900 ▼ 3.19 (-12.56%)
Janana D Mal / Oct 28 Janana De Malucho Textile Mills Limited(JDMT)	84.9700 ▼ 9.54 (-11.23%)
Masood Tex. / Oct 28 Masood Textile Mills Limited(MSOT)	68.9900 ▼ 7.59 (-11.00%)
Hira Tex. / Oct 28 Hira Textile Mills Limited(HIRAT)	3.1000 ▼ 0.40 (-10.30%)
Service Fab. / Oct 28 Service Fabrics Limited(SERF)	17.5000 ▼ 2.09 (-9.46%)
Trust Sec.& Brok. / Oct 28 Trust Securities & Brokerage Limited(TSBL)	12.9000 ▼ 1.00 (-7.61%)
Ghani Global Glass / Oct 28 Ghani Global Glass Limited(GGGL)	16.7500 ▼ 1.35 (-7.11%)
Kohinoor Mills / Oct 28 Kohinoor Mills Limited(KML)	38.3950 ▼ 5.40 (-7.04%)

Stock	Volume
Unity Foods / Oct 28 Unity Foods Limited(UNITY)	51,905,000 ▼ 1.45
Maple Leaf / Oct 28 Maple Leaf Cement Factory Limited(MLCF)	31,861,785 ▼ 1.53
Power Cement / Oct 28 Power Cement Limited(POWER)	27,943,500 ▼ 1.04
Pakistan Refinery / Oct 28 Pakistan Refinery Limited(PRL)	23,541,000 ▼ 0.85
Fauji Cem. / Oct 28 Fauji Cement Company Limited(FCCL)	16,290,500 ▼ 2.15
TRG Pak. / Oct 28 TRG Pakistan Limited(TRG)	13,484,500 ▼ 1.85
Hascol Petroleum / Oct 28 Hascol Petroleum Limited(HASCOL)	13,160,885 ▼ 0.43
Pak Int.Bulk Ter / Oct 28 Pakistan International Bulk Terminal Limited(PIBTL)	13,024,500 ▼ 0.30
Pak Elektron / Oct 28 Pak Elektron Limited(PAEL)	10,906,500 ▼ 1.54
Fauji Fert. Bin / Oct 28 Fauji Fertilizer Bin Qasim Limited(FFBL)	10,438,000 ▼ 2.64

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Oct 28	160.95
USD PKR Interbank Buying / Oct 28	160.85
USD to Japanese Yen / Oct 28	104.43
USD to Swiss Franc / Oct 28	0.91
Pound Sterling to USD / Oct 28	1.30
Euro to USD / Oct 28	1.18

Stock	Volume
S&P 500 / Oct 28	3390.68
India Sensex / Oct 28	40522.10
Tokyo Nikkei / Oct 28	23485.80
Nasdaq / Oct 28	11431.35
Hang Seng / Oct 28	24787.19
FTSE 100 / Oct 28	5728.99
Dow Jones / Oct 28	27463.19
Germany DAX 30 / Oct 28	12063.57
France CAC40 / Oct 28	4730.66

Indicator	Value
Weekly Foreign Reserves / Oct 28	19301.60
UK LIBOR % / Oct 28	0.08
GDPGROWTH / Oct 28	5.40
Foreign Debt (PKR billions) / Oct 28	15087.50
Per Capita Income USD (CPI) / Oct 28	1516.00
Average CPI % / Oct 28	11.11

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