Latest - Business Recorder

Markets

Gold crashes 5pc, silver dives over 13pc as equities surge

Gold on track for worst day since June 2013.
Silver plunges 13.8%, biggest daily decline since Oct. 2008.
US PPI rebounded more than expected in July.
Gold is down over $100 since Monday's close.

Published 12 Aug, 2020 01:54am

Markets

CBOT corn ends flat as traders, farmers assess US storm damage

Market moves were muted ahead of a monthly US Department of Agriculture supply-demand report due on Wednesday.
CBOT December corn ended up 1/2 cent at $3.23-1/2 per bushel after touching a one-week high earlier in the session.

Published 12 Aug, 2020 01:51am

Markets

Yields jump as stocks near highs ahead of record 10-year supply

The Russian news certainly spurred another 'risk on' session overnight.
"All these things are allowing this 'risk on' sentiment to continue," di Galoma said.
The yield curve between two-year and 10-year notes steepened five basis points to 49 basis points.

Published 12 Aug, 2020 01:49am

Markets

CBOT wheat closes higher on technical buying

The most active CBOT soft red winter wheat contract gained 4 cents to close at $4.95 per bushel.
The United States faces stiff competition for export business from Russia, traders said.

Published 12 Aug, 2020 01:45am

Markets

CBOT soybeans end near unchanged ahead of US crop report

Soymeal futures slipped $0.10 to $284.30 per short ton, while soyoil slid $0.13 to $30.62 per pound.
US Department of Agriculture on Wednesday will peg 2020/21 US soybean ending stocks at 524 million bushels.

Published 12 Aug, 2020 01:39am

Sports

Canada forward David completes record move to Lille

The previous Canadian record was winger Alphonso Davies' move to Bayern Munich in July 2018 from Vancouver Whitecaps.
I'm a player who knows his place on the pitch. I love to play to my qualities: notably with speed and technique.

Published 12 Aug, 2020 01:32am

Markets

Raw sugar gains on signs of tightening market, coffee down

October raw sugar settled up 0.19 cent, or 1.5%, at 12.74 cents per lb, after hitting its highest price since March 6 on Friday, at 13 cents.
November robusta coffee settled down $20, or 1.5%, at $1,337 a tonne.

Published 12 Aug, 2020 01:27am

Markets

Latam FX up against steady dollar; Upbeat economic data lifts Mexican peso

The peso gained 0.3% as a rebound in manufacturing and construction saw Mexican industrial output rise 17.9% in June from May.
Brazil's real firmed as the dollar started to lose momentum as signs of an improving global market outlook saw investors betting on riskier currencies.

Published 12 Aug, 2020 01:24am

Markets

US refiners' biofuel bills soar in oil market slump

The coronavirus crisis has led to less blending activity generally and as a result the issue of fewer compliance credits.
Another Texas-based refiner, CVR Energy Inc, also raised its full-year estimates for RIN costs by 43% to about $100 million. It had spent $43 million last year.

Published 12 Aug, 2020 01:21am

Markets

S&P 500 ends lower amid concern about stalemate in stimulus talks

Tech-laden Nasdaq slips for 3rd day.
Rotation from growth stocks to value extends.

Published 12 Aug, 2020 01:20am

World

US Democratic presidential candidate Joe Biden has selected running mate

Finalists for the job have been informed of Biden's decision, the source said, speaking on condition of anonymity.
Biden, who served as vice president under President Barack Obama, has pledged to elevate a woman as his running mate.

Updated 12 Aug, 2020 01:13am

Markets

European shares end near 3-week high as auto, travel sectors rally

Carmakers surge as China auto sales surge in July.
German online retailer Zalando gains on upbeat sales.
Markets shrug off weak UK employment report.
German investor sentiment improves in August- ZEW Institute.

Published 12 Aug, 2020 12:20am

Markets

US crude output drop in 2020 to be steeper than last forecast: EIA

The agency also expects US petroleum and other liquid fuel consumption to drop 2 million bpd to 18.46 million bpd in 2020.
Oil prices collapsed this year as the coronavirus pandemic slammed global demand and restricted travel across the world.

Published 12 Aug, 2020 12:13am

World

Lebanese call for downfall of president, other officials over Beirut blast

Death toll rises to 171, with 30 to 40 still missing.
Blast caused crater 100 metres across.
Protest march in port area.

Published 12 Aug, 2020 12:10am

Sports

Konta in good spirits day after health scare at Top Seed Open

The world No. 15 needed medical attention just minutes into her opening round match in Lexington, Kentucky, on Monday, before she was able to continue playing.
Not the result I wanted, however so incredibly grateful to be competing again.

Published 11 Aug, 2020 11:54pm

Markets

S&P 500 nears record high on stimulus bets

S&P 500, Dow rise for 8th straight session.
Tech-laden Nasdaq slips for 3rd consecutive session.
Rotation from growth stocks to value extends.
Indexes up: Dow 0.97%, S&P 0.48%, Nasdaq 0.10%.

Published 11 Aug, 2020 11:52pm

Sports

Halep labours to victory on comeback at Prague Open

Having secured a crucial break to move 5-3 ahead in the third set, Halep dropped her own serve before squandering three match points.
"I'm happy because I could win after a six-month break," the 28-year-old Romanian told a news conference.

Published 11 Aug, 2020 11:50pm

Business

Lucid says its new electric sedan is first EV with 500-mile range

The Lucid Air has an estimated range of 517 miles (832 km), as verified in independent testing, Lucid said.
Lucid Chief Executive Peter Rawlinson told Reuters the Air initially will be priced "well north of" $100,000

Published 11 Aug, 2020 11:39pm

Business

Twitter users can now control who replies to their tweet

Users can select from three sets of people - everyone, only people they follow and only people they mention in the tweet.
The microblogging site, which started testing the feature in May, added that all users can continue to like and retweet posts.

Published 11 Aug, 2020 11:37pm

Markets

Corn futures tread water as farmers assess US storm damage

Winds flattened corn fields, damaged bins Monday.
Analysts still expect large US harvest.
Traders await USDA supply-demand report Aug. 12.

Published 11 Aug, 2020 11:34pm

Markets

US natural gas output, demand to fall due to coronavirus lockdowns

It also projected gas consumption would fall to 82.42 bcfd in 2020 and 78.71 bcfd in 2021, from a record 84.97 bcfd in 2019.
That would be the first annual decline in consumption since 2017 and the first time demand has fallen for two consecutive years since 2006.

Published 11 Aug, 2020 11:32pm

Business

Facebook removes 7mn posts for sharing false information on coronavirus

The company said it would invite external experts to independently audit the metrics used in the report, beginning 2021.
Facebook said it relied more heavily on automation technology for reviewing content during the months of April, May and June.

Published 11 Aug, 2020 11:31pm

Business

Nigeria opens pipeline, depot repair to private investors

Built in the 1970s, the pipeline network is crucial to getting crude oil to NNPC's three refinery complexes.
The refineries themselves have run only sporadically, and NNPC shut them down earlier this year while they await repairs and upgrades.

Published 11 Aug, 2020 11:26pm

Sports

Spurs sign Southampton's Hojbjerg, Walker-Peters joins Saints

Hojbjerg made 134 appearances for Southampton in all competitions after joining the south-coast club from Bundesliga side Bayern Munich in 2016.
"What was very important for me is that I wanted to play in a club where I could see myself for many years.

Published 11 Aug, 2020 11:22pm

Markets

Cotton futures jump over 1pc on hopes for more Chinese demand

The weather in west Texas remains extremely dry and it's still impacting production over there.
Weaker US dollar is promoting ideas of better demand which we really need because demand up until now has been pretty bad... Apparently.

Published 11 Aug, 2020 11:12pm

Markets

Dollar skids; euro tops $1.18 after German sentiment survey

German ZEW economic survey boosts euro amid thin liquidity.
Fiscal stalemate, China tensions help put floor on dollar.
Dollar hits three-week high vs yen.
Oil currencies flourish as oil prices rise.

Published 11 Aug, 2020 11:10pm

Business

British Airways reaches deal in principle with some Heathrow staff

I am pleased to report we have made significant progress in these areas with both unions which will help us to save jobs and mitigate the impact of redundancies.
Customer-facing ground staff at Heathrow will not face compulsory redundancy, said the Financial Times.

Published 11 Aug, 2020 11:02pm

Forex reserves up from $8.5bn to $12.5bn, current account deficit cut from $20bn to $3bn in 2 years, cabinet told

Due to the government's prudent economic policies, the foreign exchange reserves of State Bank of Pakistan had increased from $ 8.5 billion to $12.5 billion, he added.

Published 11 Aug, 2020 09:06pm

Pakistan

NA rejects bill to increase fee to contest elections

He said that fee should not be enhanced because it would put financial burden on the poor contestants.

Published 11 Aug, 2020 09:02pm

Pakistan

9 new COVID-19 positive cases reported in AJK

The State Health Services authorities confirmed the registration of 09 new cases in AJK – which include 08 in Poonch districts and only one in Mirpur district.

Published 11 Aug, 2020 08:11pm

Pakistan

Role of youth pivotal in making Naya Pakistan: CM

He expressed satisfaction that the Tiger Force was engaged in public service, adding that investment in youth was the priority of the government as it had a tremendous potential.

Published 11 Aug, 2020 08:09pm

Pakistan

Pakistan believes in freedom to minorities: Governor Punjab

The seminar was held under the auspices of Human Rights and Minority Affairs Department.

Published 11 Aug, 2020 08:06pm

Pakistan

CM seeks report on hooliganism incident outside NAB office

He directed that legal action be initiated against those involved in the incident and said no one can be allowed to take the law into one's own hand as rule of law would be fully ensured.

Published 11 Aug, 2020 08:05pm

Corps commanders discuss geostrategic situation, internal security

The forum appreciated the progress of Afghan reconciliation process and hoped for early commencement of intra-Afghan dialogue

Published 11 Aug, 2020 07:55pm

Pakistan

Fakhar for modernising agriculture sector to achieve set economic goals

As per Rules of Business, MinNFS&R is a policy planner for country's agriculture and despite 18th amendment, MinNFS&R and provincial agricultural departments must work in harmony.

Published 11 Aug, 2020 07:50pm

Pakistan

Dream of Islamic welfare state can't be materialized without minorities welfare: Shibli

The minister said that the minority community was playing an important role in the development of the motherland.

Published 11 Aug, 2020 07:48pm

Pakistan

First Ehsaas Nash-o-Numa Centre set up at Upper Dir: Dr. Nishtar

She said the Prime Minister, Imran Khan would soon launch the Ehsaas Nash-o-Numa program officially.

Published 11 Aug, 2020 07:46pm

Pakistan

531 fresh coronavirus cases reported, 15 persons die in last 24 hours: NCOC

From out of 6,112 deaths reported in country due to COVID-19, some 2,282 people had lost their lives in Sindh.

Published 11 Aug, 2020 07:40pm

Pakistan

OGRA rejects news regarding refreshment expenditures

OGRA further clarified that there was no facility of club membership in the authority nor it was allowed.

Published 11 Aug, 2020 07:24pm

Pakistan

429 new cases of COVID-19 detected, 8 more died: CM Sindh

He added that 429 new cases emerged when 10050 tests were conducted that constituted four per cent current detection rate.

Published 11 Aug, 2020 07:20pm

Pakistan

Power Division starts reviewing DISCOs performances on monthly basis: Omar

Efficiency of the power sector could only be improved through provision of best facilities to consumers, prompt redressal of complaints, availability of transformers.

Published 11 Aug, 2020 07:18pm

Pakistan

Governor Sindh invited to attend opening ceremony of BRT Peshawar

Chief Minister Khyber Pakhtunkhwa Mahmood Khan extended the invitation through telephone to Sindh Governor Imran Ismail, said a spokesperson to the Sindh Governor.

Published 11 Aug, 2020 07:16pm

NAB has no relation with any political party or group; all activities conducted as per Constitution & law: NAB

NAB immediately suspended Maryam Nawaz's appearance and strongly condemned that PML-N workers tried to interfere in legal proceedings in an organized manner.

Published 11 Aug, 2020 07:13pm

Pakistan

Advisor regrets party workers use for personal gains

He said the legal aspect of such childish use of party workers could be probed by judiciary as media footage clearly showed the attack at NAB office was planned.

Published 11 Aug, 2020 07:10pm

PML-N's hooliganism exposed: Raja Basharat

He said that action would be taken against the culprits responsible, adding that no one would be allowed to take the law into their hands.

Published 11 Aug, 2020 05:46pm

Coronavirus toll at 1100 GMT Tuesday

At least 20,122,700 cases of coronavirus have been registered in 196 countries and territories. Of these, at least 12,080,900 are now considered recovered.

Published 11 Aug, 2020 05:45pm

WHO wants to review Russian vaccine safety data

President Vladimir Putin said Russia had become the first country to approve a vaccine offering "sustainable immunity" against the new coronavirus.

Published 11 Aug, 2020 05:43pm

Stock markets witness continuous stability as economic conditions improve: Faraz

Information minister says State Bank's reserves have reached $12.5 billion which is a welcoming sign

Updated 11 Aug, 2020 06:15pm

World

Coronavirus infections stabilise in Australia's virus epicentre

Daily infections in Victoria peaked at 725 on Aug. 5 and have been trending lower in recent days, following the imposition of a hard lockdown in Melbourne on July 19.

Published 11 Aug, 2020 05:04pm

Supreme Court orders to place K-Electric chief's name on ECL

Justice Gulzar also ordered to conduct an audit of the power company

Published 11 Aug, 2020 05:02pm

World

Pompeo in Prague at start of central Europe visit

On Tuesday, Pompeo will join his Czech counterpart Tomas Petricek on a trip to Plzen (Pilsen) to pay tribute to US troops that liberated the western Czech city in 1945.

Published 11 Aug, 2020 04:48pm

Business

Dollar clings to one-week high after weeks of losses

The euro has been bolstered recently by views that the continent was outperforming the United States and handling the coronavirus pandemic much better.

Published 11 Aug, 2020 04:43pm

Business

Hong Kong imports to be labelled 'made in China': US customs

Among the biggest categories of these imports were electrical machinery, precious metals and stones, and plastics.

Published 11 Aug, 2020 04:39pm

Business

SoftBank back to black with $12bn profit after record losses

It said it would not offer a forecast "due to numerous uncertainties affecting earnings."

Published 11 Aug, 2020 04:35pm

Business

Indian airline IndiGo to fight virus woes with $534mn share issue

The pandemic has dealt a sharp blow to India's aviation industry, which had seen tremendous growth in recent years.

Published 11 Aug, 2020 04:31pm

Business

German investor confidence hits highest level since 2004

The survey's figure for investor confidence in the eurozone also creeped up -- by 4.4 points to 64.0.

Published 11 Aug, 2020 04:21pm

World

Greece seeks emergency EU meeting on Turkey: PM

Tensions were stoked Monday when Ankara sent the research ship Oruc Reis off the Greek island of Kastellorizo, where Turkey disputes Greek maritime rights.

Published 11 Aug, 2020 04:18pm

World

Worldwide coronavirus cases cross 20.15 million, death toll at 735,369

Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December 2019.

Published 11 Aug, 2020 03:51pm

World

WHO says discussing new COVID-19 vaccine with Russia

President Vladimir Putin said on Tuesday that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine after less than two months of human testing.

Published 11 Aug, 2020 03:45pm

Pakistan

NAB being used as tool for political revenge, says Maryam Nawaz

PML-N vice president says NAB does not have any proof of corruption against her and she is being victimized

Updated 11 Aug, 2020 04:36pm

Gainers
Losers
Leaders

Stock	Price
Pak Gen. Ins. / Aug 12 The Pakistan General Insurance Co. Ltd.(PKGI)	2.3900 ▲ (0.30%) (14.35%)
Shahtaj Textile / Aug 12 Shahtaj Textile Limited(STJT)	129.5000 ▲ (14.09%) (12.20%)
Khurshid Spinng / Aug 12 Khurshid Spinning Mills Limited(KHSM)	7.7500 ▲ (0.76%) (7.44%)
United Brands / Aug 12 United Brands Limited(UBDL)	27.6900 ▲ (1.67%) (5.69%)
1st. Nat. Bank Mod. / Aug 12 First National Bank Modaraba(FNBM)	1.1000 ▲ (0.05%) (4.76%)
First Fid. Leas. / Aug 12 First Fidelity Leasing Modaraba(FFLM)	3.6500 ▲ (0.15%) (4.29%)
Kohinoor Mills / Aug 12 Kohinoor Mills Limited(KML)	37.0000 ▲ (1.98%) (4.23%)
Power Cement (R) / Aug 12 Power Cement Limited (R)(POWERR1)	0.6800 ▲ (0.22%) (3.70%)
Unity Foods (R) / Aug 12 Unity Foods Limited (R)(UNITYR2)	3.6745 ▲ (0.62%) (3.44%)
Ghazi Fab. / Aug 12 Ghazi Fabrics International Limited(GFIL)	3.4000 ▲ (0.40%) (3.33%)

Stock	Price
TPL Trakker / Aug 12 TPL Trakker Limited(TPLT)	11.7500 ▼ (1.41%) (-10.09%)
Cyan Ltd / Aug 12 Cyan Limited(CYAN)	33.7500 ▼ (3.70%) (-9.62%)
Telecard / Aug 12 Telecard Limited(TELE)	1.6900 ▼ (0.14%) (-8.28%)
Sindh Modaraba / Aug 12 Sindh Modaraba(SINDM)	11.5900 ▼ (0.88%) (-7.59%)
Honda Atlas Car / Aug 12 Honda Atlas Cars (Pakistan) Limited(HCAR)	354.5093 ▼ (38.51%) (-7.45%)
JS Global / Aug 12 JS Global Capital Limited(JSGCL)	71.0000 ▼ (5.00%) (-7.04%)
Nazir Cot. / Aug 12 Nazir Cotton Mills Limited(NCML)	4.4200 ▼ (0.42%) (-6.98%)
First Equity Mod. / Aug 12 First Equity Modaraba(FEM)	3.7200 ▼ (0.47%) (-6.88%)
Tri-Star Power / Aug 12 Tri-Star Power Limited(TSPL)	4.4150 ▼ (0.58%) (-6.76%)
Kohinoor Power / Aug 12 Kohinoor Power Company Limited(KOHP)	2.7200 ▼ (0.53%) (-6.60%)

Stock	Volume
Unity Foods (R) / Aug 12 Unity Foods Limited (R)(UNITYR2)	70,088,000 ▼ (0.62%)
Hascol Petroleum / Aug 12 Hascol Petroleum Limited(HASCOL)	51,686,500 ▼ (2.11%)
Worldcall / Aug 12 Worldcall Telecom Limited(WTL)	29,591,000 ▼ (0.14%)
Power Cement (R) / Aug 12 Power Cement Limited (R)(POWERR1)	23,534,000 ▼ (0.22%)
TRG Pak. / Aug 12 TRG Pakistan Limited(TRG)	23,217,000 ▼ (2.25%)
Unity Foods / Aug 12 Unity Foods Limited(UNITY)	22,309,000 ▼ (0.44%)
Pakistan Refinery / Aug 12 Pakistan Refinery Limited(PRL)	15,717,500 ▼ (1.10%)
Kot Addu / Aug 12 Kot Addu Power Company Limited(KAPCO)	15,469,000 ▼ (3.28%)
K-Electric Ltd / Aug 12 K-Electric Limited(KEL)	13,411,000 ▼ (0.26%)
Pak Int.Bulk Ter / Aug 12 Pakistan International Bulk Terminal Limited(PIBTL)	11,980,500 ▼ (0.42%)

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Aug 11	169.00
USD PKR Interbank Buying / Aug 11	168.60
USD to Japanese Yen / Aug 11	105.96
USD to Swiss Franc / Aug 11	0.92
Pound Sterling to USD / Aug 11	1.31
Euro to USD / Aug 11	1.17

Stock	Volume
S&P 500 / Aug 11	3360.47
India Sensex / Aug 11	38182.08
Tokyo Nikkei / Aug 11	22329.94
Nasdaq / Aug 11	10968.36
Hang Seng / Aug 11	24377.43
FTSE 100 / Aug 11	6050.59
Dow Jones / Aug 11	27791.44
Germany DAX 30 / Aug 11	12687.53
France CAC40 / Aug 11	4909.51

Indicator	Value
Weekly Foreign Reserves / Aug 11	19047.30
UK LIBOR / Aug 11	0.29
GDPGROWTH / Aug 11	5.40
Foreign Debt / Aug 11	15087.50
Per Capita Income (CPI) / Aug 11	1516.00
Average CPI / Aug 11	11.11

Most Popular Articles