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Archive - 2020-10-23
Reforming judicial system
Currency

Reforming judicial system

It is a fact that nothing worthwhile has been done by Legislature-no matter whether under civilian or military...
Updated 26 Oct, 2020 09:17am
Containing fire risks
Editorials

Containing fire risks

Outbreak of fires in business/industrial centres is becoming an increasing concern. In the latest incident on ...
Updated 26 Oct, 2020 09:16am
Coronavirus toll at 1100 GMT Friday
World

Coronavirus toll at 1100 GMT Friday

  • Based on latest reports, the countries with the most new deaths were the United States with 1,035 new deaths, followed by India with 690 and Brazil with 497.
Published 23 Oct, 2020 11:25pm
Dry weather forecast for city
Pakistan

Dry weather forecast for city

  • On Friday, maximum and minimum temperatures were recorded as 32.7 degree centigrade and 16.5 degree centigrade respectively.
Published 23 Oct, 2020 11:08pm
Bangladesh scraps another LNG import tender over high prices
Energy

Bangladesh scraps another LNG import tender over high prices

*The offer from Vitol to supply 138,000 cubic metres of LNG for Dec. 9-10 delivery was more than $2 per unit higher than the prices that Bangladesh pays under long-term contracts. * "From December, we will import two cargoes each month from the spot market," Rahman said, adding that both the tenders would be reissued.
Updated 23 Oct, 2020 09:10pm
Dollar headed for weekly loss amid election, stimulus uncertainty
Forex

Dollar headed for weekly loss amid election, stimulus uncertainty

  • Republican President Donald Trump and Democratic challenger Joe Biden squared off on Friday in a less raucous debate than their previous meeting.
  • It was certainly more productive than the first one, but I don't think there was any meaningful shakeup in the outlook for the election.
Published 23 Oct, 2020 08:07pm
US says AIG settles tax shelter lawsuit, forgoes over $400mn tax credits
Money & Banking

US says AIG settles tax shelter lawsuit, forgoes over $400mn tax credits

  • AIG had filed a lawsuit in 2009 challenging an Internal Revenue Service decision from the prior year to disallow the tax credits and impose a 20% tax penalty.
  • AIG created an elaborate series of sham transactions that were designed to do nothing--and in fact did nothing--other than generate hundreds of millions of dollars in ill-gotten tax benefits.
Published 23 Oct, 2020 07:38pm
Wheat up 5-6 cents, corn up 1-2, soy mixed
Commodities

Wheat up 5-6 cents, corn up 1-2, soy mixed

  • Wheat heads higher on technical buying and poor weather in Russia, Argentina and other wheat-producing countries that could tighten global exportable supplies.
  • Corn seen firm on technical buying and expectations of export demand from China. Fresh export sales may lend support.
Published 23 Oct, 2020 07:29pm
Yields at four-month highs, curve steepens on stimulus hopes
Financial

Yields at four-month highs, curve steepens on stimulus hopes

  • US House Speaker Nancy Pelosi on Thursday said negotiators were making progress in talks with the White House for another round of COVID-19 stimulus.
  • The market's playing out inflation expectations here, based on expectations that there's more stimulus and, if Biden gets in,
Published 23 Oct, 2020 07:25pm
Amazon refuses to appear before India panel on data privacy
Industry

Amazon refuses to appear before India panel on data privacy

  • Amazon is doing huge business in India ... If it doesn't appear before the committee, coercive action may be initiated against it.
  • Separately, Facebook representatives appeared before the committee on Friday. Twitter has been asked to appear on Oct. 28.
Published 23 Oct, 2020 07:22pm
Iran blacklists US ambassador in Iraq, reciprocating US move
South Asia

Iran blacklists US ambassador in Iraq, reciprocating US move

  • Ambassador Matthew Tueller "has had a central role in coordinating terrorist acts in Iraq & beyond" including the assassination of Iranian commander Qassem Soleimani.
  • Tehran's move, which allows the seizure of assets within Iran of sanctioned individuals.
Published 23 Oct, 2020 07:17pm
US business activity picks up in October
USA

US business activity picks up in October

  • Data firm IHS Markit said on Friday its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors.
  • Growth in foreign client demand also slowed "notably," with manufacturers reporting a renewed contraction in new export orders, IHS Markit said.
Published 23 Oct, 2020 07:10pm
Russian wheat offered lowest at Egypt's GASC tender
Commodities

Russian wheat offered lowest at Egypt's GASC tender

  • GASC also received a lowest offer of $263.97 for 55,000 tonnes of Russian wheat on a FOB basis for a second shipment period from Dec 11-20.
  • Egypt, the world's largest wheat importer, is in the market for an unspecified quantity of the grain following a month-long hiatus.
Published 23 Oct, 2020 07:05pm
Raw sugar gains, heads for sixth week of gains
Commodities

Raw sugar gains, heads for sixth week of gains

  • Arabica coffee headed back into negative territory while cocoa prices rallied.
  • December white sugar fell $0.80, or 0.2%, to $398.20 a tonne.
  • January robusta coffee fell $9, or 0.7%, to $1,298 a tonne.
Updated 23 Oct, 2020 07:05pm
Sri Lankan shares end flat as materials, consumer staples drag
Stocks

Sri Lankan shares end flat as materials, consumer staples drag

  • The benchmark stock index closed 0.05% lower at 5,768.94. The bourse fell 3% in the past week and is down 5.9% for the year so far.
  • Ceylinco Insurance Plc and Nawaloka Hospitals Plc were the biggest boosts to the index, rising 2.8% and 11.5%, respectively.
Published 23 Oct, 2020 06:22pm
England players agree 15% pay cut as pandemic hits ECB revenues
Sports

England players agree 15% pay cut as pandemic hits ECB revenues

  • The pay cut is made up of match fees, win bonuses and retainers with the 12-month period starting from Oct. 1.
  • We need to recognise that our players, led by captains Joe Root and Eoin Morgan, have conducted themselves with great maturity and responsibility throughout this challenging time,
Published 23 Oct, 2020 05:29pm
Key takeaways from the final U.S. Presidential Debate
USA

Key takeaways from the final U.S. Presidential Debate

  • After an outrageously heated first outing between President Donald Trump and former Vice President Joe Biden, both candidates were visibly restrained earlier today - as the mute button, or the threat of it, dictated the nature of a somewhat inconsequential debate.
Updated 23 Oct, 2020 05:29pm
Syria fuel crisis eases as Iran delivers new oil supplies
Energy

Syria fuel crisis eases as Iran delivers new oil supplies

  • A vessel began unloading 38,000 tonnes of gasoline at the Baniyas oil terminal on Monday.
  • Data from TankerTrackers, which tracks shipments and oil storage, showed a spike in Iranian exports last month in defiance of US sanctions.
Published 23 Oct, 2020 05:27pm
Wheat firm near 6-year top as weather worries persist
Commodities

Wheat firm near 6-year top as weather worries persist

  • Dry weather effects seen in Russian, US, Argentine wheat belts.
  • Egypt wheat tender adds to flurry of international demand.
  • Corn steady near 14-month top on strong export demand.
  • Soybeans also consolidate after 4-year high; Brazil rain eyed.
Published 23 Oct, 2020 05:11pm
Trump's description of India as filthy sets off calls for cleaner air
South Asia

Trump's description of India as filthy sets off calls for cleaner air

  • Air pollution in New Delhi and surrounding cities was at its worst in eight months, with the air quality index surging above 300 on a scale of 500, indicating "emergency conditions".
  • Trump's commentary on India's air in the backdrop of his justification from withdrawing from the Paris pact is unfortunate and juvenile.
Published 23 Oct, 2020 05:07pm
Warring Libya rivals sign truce but tough political talks ahead
Africa

Warring Libya rivals sign truce but tough political talks ahead

  • Acting United Nations envoy Stephanie Williams said the ceasefire would start immediately and all foreign fighters must quit Libya within three months.
  • As a first commercial passenger flight in more than a year crossed frontlines from Tripoli to land in the eastern city of Benghazi on Friday,
Published 23 Oct, 2020 04:43pm
FATF to decide Pakistan’s status today
Business & Finance

FATF to decide Pakistan’s status today

  • The plenary meeting of the FATF would decide on the basis of measures taken by the government against money laundering and terror financing, whether Pakistan should be excluded from its “grey list” or not.
Published 23 Oct, 2020 11:11am
An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University
Exchange

An Interview with Ahmed Mushfiq Mobarak, Professor of Economics – Yale University

Ahmed Mushfiq Mobarak is a Professor of Economics at Yale University with concurrent appointments in the School of Management and in the Department of Economics. In this interview he has shared his views on a wide range of topics; Insights from his research on the Covid-19 crises, Productivity, Policy Making and Governance , Political Economy and Economic teaching . He has discussed these things in regards to Bangladesh’s success story and how can Pakistan learn from it.
Updated 23 Oct, 2020 10:03am
Time to go long
Currency

Time to go long

The current account is in surplus after 21 quarters of deficits. When the incumbents came to power, the first ...
Published 23 Oct, 2020 07:40am
Allied Bank defies Covid
Exchange

Allied Bank defies Covid

Pandemic it maybe. But panic it is not. Not at Allied Bank Limited (ABL). The bank announced its financial results...
Published 23 Oct, 2020 07:38am
Dadex Eternit Limited
Currency

Dadex Eternit Limited

Dadex Eternit Limited (PSX: DADX) was established in 1959 as a public limited company under the repealed Companies...
Published 23 Oct, 2020 07:25am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Thursday (October 22, 2020) and the forecast for Friday (October 23, 2020)....
Updated 23 Oct, 2020 03:07am
European stocks trim losses
Stocks

European stocks trim losses

MILAN/FRANKFURT: European shares fell for a fourth straight day on Thursday, though they trimmed losses after...
Updated 23 Oct, 2020 03:05am
CBOT corn futures up
Commodities

CBOT corn futures up

CHICAGO: Chicago Board of Trade corn futures rose to their highest since August 2019 on Wednesday, their third...
Updated 23 Oct, 2020 03:00am
Gold prices dip
Commodities

Gold prices dip

KARACHI: Gold on Thursday dipped by Rs500 to Rs115700 per tola on the local market, traders said. The yellow metal...
Updated 23 Oct, 2020 02:59am
Unilever sales dip
Currency

Unilever sales dip

THE HAGUE: Anglo-Dutch consumer giant Unilever said Thursday its sales declined in the third quarter, even though...
Updated 23 Oct, 2020 02:57am
Turkish lira weakens
Currency

Turkish lira weakens

ISTANBUL: Turkey's lira weakened on Thursday after rising to its strongest since Oct. 6 against the dollar, as...
Updated 23 Oct, 2020 02:57am
Thai PM revokes emergency decree
Asia

Thai PM revokes emergency decree

BANGKOK: Thailand's premier on Thursday revoked an emergency decree that had been intended to quell pro-democracy...
Updated 23 Oct, 2020 02:54am
IMF, WB lower growth projections

IMF, WB lower growth projections

ISLAMABAD: International Monetary Fund (IMF) and World Bank (WB) have lowered GDP growth rate projection for ...
Published 23 Oct, 2020 02:32am
CCP 'unearths' sugar cartel

CCP 'unearths' sugar cartel

ISLAMABAD: The Competition Commission of Pakistan (CCP) has "unearthed" a cartel in the sugar industry through an...
Published 23 Oct, 2020 02:32am
AAJ PROGRAM SCHEDULE
Life & Style

AAJ PROGRAM SCHEDULE

Friday, October 23, 2020 TIMING PROGRAM TITLE 06:00 NEWS HOUR 06:25 HEADLINE NEWS 06:30 NEWS HOUR 06:55 HEADLINE...
Published 23 Oct, 2020 02:32am
Terror bid foiled in Zhob
Pakistan

Terror bid foiled in Zhob

QUETTA: Security forces on Thursday claimed to have foiled a major terror bid by seizing explosive material during a...
Published 23 Oct, 2020 02:32am
Member to Member
Rates

Member to Member

KARACHI: The following transactions member to member subsequently reported on Thursday (October 22, 2020)....
Published 23 Oct, 2020 02:32am
Australian, NZ shares fall
Stocks

Australian, NZ shares fall

SYDNEY/WELLINGTON: Australian shares fell on Thursday, weighed down by energy and financials stocks, as talks on a...
Published 23 Oct, 2020 02:32am
Wall Street declines
Stocks

Wall Street declines

NEW YORK: Wall Street's three major averages closed lower on Wednesday after a volatile trading session, as ...
Published 23 Oct, 2020 02:32am
China stocks lower
Stocks

China stocks lower

SHANGHAI: Chinese shares closed lower on Thursday, with healthcare and industrials stocks leading the declines, as...
Published 23 Oct, 2020 02:32am
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 23 Oct, 2020 02:32am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meeseq Fund Rates on Thursday (October 22, 2020). ======================== Offer Price 1,163.0741 ...
Published 23 Oct, 2020 02:32am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Thursday (October 22, 2020). ======================== Offer Price...
Published 23 Oct, 2020 02:32am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Thursday (October 22, 2020). ======================== Offer Price ...
Published 23 Oct, 2020 02:32am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 23 Oct, 2020 02:32am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (October 22, 2020)....
Published 23 Oct, 2020 02:32am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Thursday (October 22, 2020). ======================================= Offset...
Published 23 Oct, 2020 02:32am
Lahore Grain Market Rates
Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Thursday (October 22, 2020)...
Published 23 Oct, 2020 02:32am
Bullion Rates
Rates.Bullion

Bullion Rates

KARACHI: Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (October 22, 2020)....
Published 23 Oct, 2020 02:32am
Cotton Spot Rates
Cotton & Textile

Cotton Spot Rates

KARACHI: Official KCA spot rates for local dealings in Pakistan rupees on Thursday (October 22, 2020)....
Published 23 Oct, 2020 02:32am
PMEX daily trading report
Commodities

PMEX daily trading report

KARACHI: On Wednesday, at PMEX the traded value of metals, energy, COTS/FX and indices was recorded at PKR 6.548...
Published 23 Oct, 2020 02:32am
Saad Hariri named new Lebanon PM

Saad Hariri named new Lebanon PM

BEIRUT: Three-time Lebanese prime minister Saad Hariri was renamed to the post Thursday to create a ...
Published 23 Oct, 2020 02:32am