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Archive - 2020-10-17
Gold price decline Rs450
Pakistan

Gold price decline Rs450

  • The gold prices in the in international market decreased by $10 and was traded at $1900 per ounce, the association reported.
Updated 17 Oct, 2020 06:06pm
Challenge of price hike
Letters

Challenge of price hike

It is heartening to note that at least one member of the federal cabinet has conceded the fact that there has been...
Published 17 Oct, 2020 03:08am
Opposition starts anti-govt drive

Opposition starts anti-govt drive

LAHORE: Supporters of opposition parties converged on a stadium in the city of Gujwanwala on Friday to begin a...
Published 17 Oct, 2020 03:08am
Economic satire: episode - I
Opinion

Economic satire: episode - I

In a library with wall to wall shelves stacked with books, the four gentlemen sat on vintage wingback chairs around...
Published 17 Oct, 2020 03:08am
Power sector in turmoil
Opinion

Power sector in turmoil

Chairing a meeting on energy reforms a few days ago, prime minister Imran Khan expressed his grave concern over the...
Published 17 Oct, 2020 03:08am
The coronavirus resurgence
Editorials

The coronavirus resurgence

Planning and Development Minister Asad Umar's concern over the rising number of Covid-19 cases in the country, and...
Published 17 Oct, 2020 03:08am
FDI down 24 percent in Q1FY21

FDI down 24 percent in Q1FY21

KARACHI: Foreign Direct Investment (FDI) declined by 24 percent during the first quarter of this fiscal year (FY21)....
Published 17 Oct, 2020 03:08am
SPI up 0.45 percent WoW

SPI up 0.45 percent WoW

ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended October 15, 2020 recorded an increase of 0.45...
Published 17 Oct, 2020 03:08am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meeseq Fund Rates on Friday (October 16, 2020). ======================== Offer Price 1,153.5915 Bid...
Published 17 Oct, 2020 03:08am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 17 Oct, 2020 03:08am
Member to Member
Rates

Member to Member

KARACHI: The following transactions member to member subsequently reported on Friday (October 16, 2020)....
Published 17 Oct, 2020 03:08am
THE RUPEE: Gains extend
Currency

THE RUPEE: Gains extend

KARACHI: On Friday, on market close, PKR again showed gain in value against USD in both interbank and open markets....
Published 17 Oct, 2020 03:08am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Friday (October 16, 2020) and the forecast for Saturday (October 17, 2020)....
Published 17 Oct, 2020 03:08am
Karachi Yarn Market Rate
Yarn Prices

Karachi Yarn Market Rate

KARACHI: Karachi Yarn Market Rates on Thursday (October 15, 2020). ======================================= CONES...
Published 17 Oct, 2020 03:08am
Aleem Khan tests positive
Pakistan

Aleem Khan tests positive

LAHORE: With as many as 2016 active cases of Covid-19 in the province, 130 fresh corona cases and two deaths have...
Published 17 Oct, 2020 03:08am
PQA clarification
Pakistan

PQA clarification

KARACHI: PQA clarifies that on 14th of October 2020, an anti-encroachment drive was conducted by Sindh government...
Published 17 Oct, 2020 03:08am
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 17 Oct, 2020 03:08am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Friday (October 16, 2020). ======================== Offer Price...
Published 17 Oct, 2020 03:08am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Friday (October 16, 2020). ======================== Offer Price 1,414.2739...
Published 17 Oct, 2020 03:08am
PMEX daily trading report
Commodities

PMEX daily trading report

KARACHI: On Thursday, at PMEX the traded value of metals, energy, COTS/FX and indices was recorded at PKR 7.741...
Published 17 Oct, 2020 03:08am
Oil prices edge lower
Energy

Oil prices edge lower

NEW YORK: Oil prices edged lower on Friday, dragged down by concerns that a spike in Covid-19 cases in the United...
Published 17 Oct, 2020 03:08am
FBR, BoRP sign MoU on data sharing

FBR, BoRP sign MoU on data sharing

ISLAMABAD: In line with the vision of the Prime Minister to improve transparency in the tax collection system, the...
Published 17 Oct, 2020 03:08am
Sterling recovers
Money & Banking

Sterling recovers

LONDON: Sterling largely brushed off the British Prime Minister's announcement that it was time to prepare for a...
Published 17 Oct, 2020 03:08am
Speculators' bearish bets on US dollar trimmed
Forex

Speculators' bearish bets on US dollar trimmed

  • The value of the net short dollar position was $27.24 billion for the week ended Oct. 13, compared with a net short position of $28.35 billion for the week before that.
  • The net short was the smallest since late July. US net shorts hit a more than nine-year high of $33.68 billion in late August.
Published 17 Oct, 2020 02:43am
Pfizer says earliest US filing for COVID-19 vaccine would be late November
Industry

Pfizer says earliest US filing for COVID-19 vaccine would be late November

  • The Pfizer news, published in a letter from its chief executive on its website, lifted the US stock market and the company's shares.
  • So let me be clear, assuming positive data, Pfizer will apply for Emergency Authorization Use in the US soon after the safety milestone is achieved in the third week of November.
Published 17 Oct, 2020 02:40am
Trump administration approves $1.35bn for small-scale nuclear reactor project
USA

Trump administration approves $1.35bn for small-scale nuclear reactor project

  • The award was announced by the Utah Associated Municipal Power Systems (UAMPS) a consortium of cities, many of which would buy power generated by NuScale Power LLC's project.
  • The DOE has pumped about $280 million since 2013 into the project involving 12 small reactors, slated to be built at its Idaho National Laboratory site.
Published 17 Oct, 2020 02:38am
Funds raise bullish bet in raw sugar to nearly 200,000 contracts
Commodities

Funds raise bullish bet in raw sugar to nearly 200,000 contracts

  • The funds added 20,598 contracts to their net long bet that now totals 193,823 contracts, the US Commodity Futures Trading Commission said.
  • Funds have not lost their appetite in commodities for now, and unless you can flush them, it will be harder to pressure sugar down.
Published 17 Oct, 2020 02:31am
Moody's cuts UK's debt rating on weak economic growth
Business & Finance

Moody's cuts UK's debt rating on weak economic growth

  • The Johnson government has tightened restrictions as the country grapples with a second wave of COVID-19 infections.
  • "Even if there is a trade deal between the UK and EU by the end of 2020, it will likely be narrow in scope and therefore the UK's exit from the EU will, in Moody's view, continue to put downward pressure on private investment and economic growth.
Updated 17 Oct, 2020 02:29am
US oil and gas rig count rises by most since January: Baker Hughes
Energy

US oil and gas rig count rises by most since January: Baker Hughes

  • The oil and gas rig count, an early indicator of future output, rose for the fifth week in a row, increasing 13 to 282 in the week to Oct. 16, energy services firm.
  • The total rig count fell to a record low of 244 rigs during the week ended Aug. 14, while oil rigs alone fell to a 15-year low at 172 in the same week.
Published 17 Oct, 2020 12:36am
Oil dips on COVID-19 resurgence, fears of more supply
Energy

Oil dips on COVID-19 resurgence, fears of more supply

  • Both benchmarks a shade firmer for the week.
  • Some European countries revive coronavirus curfews.
  • OPEC+ fears second virus wave could lead to oil surplus in 2021.
  • US oil and gas rig count rises by most since January.
Published 17 Oct, 2020 12:32am
US 2020 fiscal year deficit hits record $3.132 trillion: Treasury
USA

US 2020 fiscal year deficit hits record $3.132 trillion: Treasury

  • The deficit more than doubled the previous record of $1.416 trillion in fiscal 2009, when the United States was battling a financial crisis.
  • At the start of the 2020 fiscal year ended Sept. 30, the US government had been forecast to rack up a $1 trillion deficit before coronavirus lockdowns began in March.
Published 17 Oct, 2020 12:23am
Pfizer vaccine hopes lift world stocks; dollar, gold on the defensive
Stocks

Pfizer vaccine hopes lift world stocks; dollar, gold on the defensive

  • The S&P 500 was up 20 points, or 0.6%, at 3,503.63, while the Dow Jones Industrial Average jumped 253 points, or 0.9%, to 28,744.49.
  • Shares of Pfizer added 3.1%. The US drugmaker said on Friday it could file for US authorization of the COVID-19 vaccine it is developing with German partner BioNTech as early as late November.
Published 17 Oct, 2020 12:10am
US CDC reports 216,917 deaths from coronavirus
USA

US CDC reports 216,917 deaths from coronavirus

  • The CDC reported its tally of cases of the respiratory illness known as COVID-19, caused by a new coronavirus.
  • The CDC figures do not necessarily reflect cases reported by individual states.
Published 17 Oct, 2020 12:09am
US says 8pc Gulf offshore crude oil production remains shut after Delta
USA

US says 8pc Gulf offshore crude oil production remains shut after Delta

  • The shut crude oil production on Friday is 146,866 barrels per day (bpd). Shut natural gas output slid to 6%, or 160.6 million cubic feet per day (mmcfd), BSEE said.
  • BSEE said Friday's report is the last it will provide for Hurricane Delta because of the small amount of production that remains shut.
Published 17 Oct, 2020 12:04am
Pompeo seeks reversal of 'provocative' North Cyprus move to reopen Varosha
World

Pompeo seeks reversal of 'provocative' North Cyprus move to reopen Varosha

  • Pompeo made the comments in a call with Cypriot Foreign Minister Nikos Christodoulides, the Department said.
  • The Secretary expressed deep concern and noted such a move was provocative and inconsistent with UN Security Council Resolutions 550 and 789 and not conducive to a return to settlement talks.
Published 17 Oct, 2020 12:00am