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Archive - 2020-10-14
High costs haunt Wells Fargo results years after scandal
Business & Finance

High costs haunt Wells Fargo results years after scandal

  • "Why is that the number?" asked UBS analyst Saul Martinez about Wells' core cost guidance. "Because you haven't been anywhere near that number for five years."
  • That is what I said and I was wrong when I said it," Shrewsberry told reporters on a call discussing results,
Published 14 Oct, 2020 11:49pm
CBOT corn gains on export demand
Commodities

CBOT corn gains on export demand

  • Most-active CBOT December corn ended up 5-1/4 cents at $3.96-1/2 per bushel.
  • USDA reported 420,000 tonnes of new sales to China on Wednesday during the 2020/2021 marketing year.
Updated 14 Oct, 2020 11:42pm
Pakistani Startup Investments Rise to $178 million
Business & Finance

Pakistani Startup Investments Rise to $178 million

  • Pakistani Startups made 122 deals worth $178 million from 2015-2020 with male-founded e-commerce startups taking the lead, according to data generated by i2i’s Deal Flow Tracker.
  • “There is a lot of exciting activity happening in the investment landscape these days,” says Kalsoom Lakhani, Invest2Innovate Founder and CEO.
Published 14 Oct, 2020 08:41pm
EU business groups urge post-Brexit deal
Europe

EU business groups urge post-Brexit deal

  • "A brutal split between continental Europe and the UK would add further difficulties to the difficulties and would undermine tens of thousands of jobs and activities in all our countries."
Published 14 Oct, 2020 08:38pm
Gold price decline Rs400
Pakistan

Gold price decline Rs400

  • Likewise, the price of 10 grams gold also decreased by Rs. 343 and was sold at Rs. 99,537 against Rs. 99,880, Karachi Sarafa Association reported.
Published 14 Oct, 2020 07:29pm
Sterling bounces on hope of further Brexit talks
Forex

Sterling bounces on hope of further Brexit talks

  • Sterling's implied volatility gauges soared to a seven-month high of more than 13pc indicating investors were prepared for unexpected moves in the British currency in the next hours.
Published 14 Oct, 2020 05:57pm
Costly delay in reforms
BR Research

Costly delay in reforms

The IMF reviews are pending. In April, based on exceptional global economic circumstances, IMF gave $1.4 billion...
Published 14 Oct, 2020 08:14am
E&P sector in FY20
Currency

E&P sector in FY20

The looming gas crisis this winter is a testament to declining gas production and depleting gas reserves in the...
Published 14 Oct, 2020 08:12am
Housing - by chance
BR Research

Housing - by chance

The SBP and the government have signed a new deal where the government will finance a mark-up subsidy for housing...
Published 14 Oct, 2020 08:11am
Biafo Industries Limited
Exchange

Biafo Industries Limited

Biafo Industries Limited (PSX: BIFO) was established in 1988 under the Companies Ordinance, 1984 (now Companies Act,...
Published 14 Oct, 2020 07:25am
A tale of two islands
Opinion

A tale of two islands

The details of the two-island (Bundal and Buddo) controversy have been discussed in the national media so...
Updated 14 Oct, 2020 03:57am
FATF and Pakistan
Editorials

FATF and Pakistan

According to a Business Recorder exclusive, the government has hired a lobbyist, Linden Strategies, a Texan firm, to...
Updated 14 Oct, 2020 03:56am
Umar makes bold admission
Cotton

Umar makes bold admission

ISLAMABAD: Minister for Planning, Development and Special Initiatives, Asad Umar has acknowledged that prices of...
Published 14 Oct, 2020 03:33am
Price hike: People can no longer afford necessities of life: Khokhar
Pakistan

Price hike: People can no longer afford necessities of life: Khokhar

ISLAMABAD: Senator Mustafa Nawaz Khokhar, the spokesman for the Chairman Pakistan People's Party (PPP), Bilawal Bhutto-Zardari, has said that narrative of the country shall revolve around the problems faced by the people and measures to solve them but unfortunately due to this auto-pilot government, the narrative of the government is of political victimisation.
Published 14 Oct, 2020 03:33am
IMF warns of lasting damage

IMF warns of lasting damage

WASHINGTON: The global economic crisis will not be quite as grim as feared this year, but GDP will still contract ...
Published 14 Oct, 2020 03:33am
Mehbooba Mufti released

Mehbooba Mufti released

OCCUPIED SRINAGAR: Indian authorities released a top Kashmiri politician late on Tuesday, the last major leader held...
Published 14 Oct, 2020 03:33am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Tuesday (October 13, 2020) and the forecast for Wednesday (October 14, 2020)....
Published 14 Oct, 2020 03:33am
Ban on TikTok challenged
Pakistan

Ban on TikTok challenged

KARACHI: The ban on TikTok in Pakistan was challenged at the Sindh High Court (SHC) here on Tuesday. The petitioner,...
Published 14 Oct, 2020 03:33am
KBA delegation calls on CJP
Pakistan

KBA delegation calls on CJP

ISLAMABAD: An 11-member delegation of Karachi Bar Association (KBA), headed by its President Munir Ahmed Malik and...
Published 14 Oct, 2020 03:33am
BOP observes Pink October
Pakistan

BOP observes Pink October

LAHORE: Pakistan has the highest prevalence of breast cancer among the Asian countries with over 90,000 new cases...
Published 14 Oct, 2020 03:33am
Currency notes: exchange rates
Forex

Currency notes: exchange rates

KARACHI: Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan...
Published 14 Oct, 2020 03:33am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meeseq Fund Rates on Tuesday (October 13, 2020). ======================== Offer Price 1,155.5475 Bid...
Published 14 Oct, 2020 03:33am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Tuesday (October 13, 2020). ======================== Offer Price...
Published 14 Oct, 2020 03:33am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Tuesday (October 13, 2020). ======================== Offer Price 1,399.8455...
Published 14 Oct, 2020 03:33am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 14 Oct, 2020 03:33am
THE RUPEE: No change
Currency

THE RUPEE: No change

KARACHI: On Tuesday, after market close, PKR remained unchanged against USD in interbank market. It however went ...
Published 14 Oct, 2020 03:33am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 13, 2020)....
Published 14 Oct, 2020 03:33am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Tuesday (October 13, 2020). ======================================= Offset...
Published 14 Oct, 2020 03:33am
Lahore Grain Market Rates
Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (October 13, 2020)...
Published 14 Oct, 2020 03:33am
Bullion Rates
Rates.Bullion

Bullion Rates

KARACHI: Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (October 13, 2020)....
Published 14 Oct, 2020 03:33am
London stocks retreat
Stocks

London stocks retreat

LONDON: London's mid-cap index fell from four-month highs on Tuesday on concerns around the timeline of a Covid-19...
Published 14 Oct, 2020 03:33am
Nikkei claws higher
Stocks

Nikkei claws higher

TOKYO: Japanese shares closed higher on Tuesday as investor sentiment improved after US futures trimmed early ...
Published 14 Oct, 2020 03:33am
Australian, NZ shares up
Stocks

Australian, NZ shares up

SYDNEY/WELLINGTON: Australian shares settled higher on Tuesday for the seventh straight session, as financials ...
Published 14 Oct, 2020 03:33am
China stocks rise
Stocks

China stocks rise

SHANGHAI: China's stocks reversed early losses to close firmer on Tuesday, as sentiment was lifted by strong ...
Published 14 Oct, 2020 03:33am
European shares tumble
Stocks

European shares tumble

MILAN/FRANKFURT: European shares fell on Tuesday as Johnson & Johnson's move to pause its Covid-19 clinical...
Published 14 Oct, 2020 03:33am
NCB, Samba lift Saudi index
Stocks

NCB, Samba lift Saudi index

• 26 of 30 stocks on Egypt's index decline DUBAI: Saudi Arabia's stock market ended higher on Tuesday, led by...
Published 14 Oct, 2020 03:33am
Cotton Spot Rates
Cotton & Textile

Cotton Spot Rates

KARACHI: Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (October 13, 2020)....
Published 14 Oct, 2020 03:33am