News Archives for Print - 2019-05-15

Print - 2019-05-15

Currency

Yuan strengthens in European trade

China's yuan and the Australian dollar regained some poise on Tuesday after US President Donald Trump suggested trade talks with Beijing could yet make headway. The Chinese currency sank to a 2019 low of 6.92 on Monday after Washington and Beijing increas

Published 15 May, 2019 12:00am

Currency

Early trade in New York: Italian concerns weigh down euro after Salvini comments

The euro slid against the dollar on Tuesday after Italy's deputy prime minister said the country is ready to break European Union budget rules if necessary to spur employment. "If we need to break some limits, like the 3% (deficit-to-GDP ratio) or 130-140

Published 15 May, 2019 12:00am

Yuan weakest since December against dollar in NY

The Chinese yuan dropped to its lowest levels against the US dollar since December on Monday as the trade war between the United States and China escalated, with each country raising tariffs on the other's goods. China plans to impose higher tariffs on $6

Published 15 May, 2019 12:00am

Currency

Turkey's lira rises

Turkey's lira firmed on Tuesday as investors weighed up reports that Ankara was evaluating Washington's proposal to delay delivery of Russian defence systems and state banks continued to sell dollars to support the currency. The currency has been battered

Published 15 May, 2019 12:00am

Currency

Most Asian currencies up

Most emerging Asian currencies firmed on Tuesday as conciliatory comments from the United States and China reduced investor anxiety over the escalating tariff war between the world's two biggest economies. The Chinese yuan was largely unchanged at 6.878 a

Published 15 May, 2019 12:00am

Currency

Sterling hits new two-week low

Sterling hit a new two-week low on Tuesday as British employment data showed wage growth in the quarter ending March was lower than expected, signalling the possible start of a turbulent period for the broader economy. Wages in Britain had grown at strong

Published 15 May, 2019 12:00am

Currency

Aussie, kiwi beleaguered

The Australian and New Zealand dollars were stuck near multi-month lows on Tuesday as China's reprisal for US tariffs shook markets globally and stoked speculation about interest rate cuts at home. The Aussie dollar was pinned at $0.6952, having sunk 0.8

Published 15 May, 2019 12:00am

Exchange

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,709. The traded value of Metals, Energy and COTS/FX was recorded at PKR 24.248 billion and the number of lots traded 44,140.

Published 15 May, 2019 12:00am

Ethiopia buys 400,000 tonnes of wheat

An Ethiopian state purchasing agency has provisionally bought about 400,000 tonnes of wheat to be sourced from optional origins in an international tender which closed on April 19, European traders said on Monday. It was bought from one trading house. Shi

Published 15 May, 2019 12:00am

CBOT soyabean futures fall to 10-year lows

Chicago Board of Trade soyabean futures fell to decade lows on Monday on escalating trade tensions between the United States and top global soya buyer China, traders said. Forecasts for burdensome US soya stockpiles added to bearish sentiment.

Published 15 May, 2019 12:00am

Euronext wheat futures fall on US-China tensions

Euronext wheat futures fell on Monday to new contract lows as investors fretted over an escalating trade battle between the United States and China, while welcome rain for European crops also weighed on prices. Benchmark September milling wheat on Paris-b

Published 15 May, 2019 12:00am

German rapeseed sowings crop reduced

Germany's winter rapeseed planted area for the 2019 harvest has been reduced by 27.5% on the year to around 886,000 hectares, Germany's national statistics office said in its latest estimates on Monday. A major reduction was widely anticipated after unusu

Published 15 May, 2019 12:00am

Exchange

China's iron, steel futures mixed on trade tension

China's iron and steel futures mixed on Monday as investors continued to fret about slowing economic growth amid escalated trade tension between Washington and Beijing. The world's two largest economies appeared at a deadlock over the trade negotiations o

Published 15 May, 2019 12:00am

Activities at Karachi and Qasim Ports

The Karachi Port handled 100,315 tonnes of cargo comprising 57,678 tonnes of import cargo and 42,637 tonnes of export cargo including 3,067 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 57

Published 15 May, 2019 12:00am

Cotton

Cotton prices fall on slow business

Rates of cotton continued to decline on the local market on Tuesday in the process of slow business activity, dealers said. The official spot rate shed more Rs 50 to Rs 8650, they added. In the ready session, about 2600 bales of cotton changed hands betwe

Published 15 May, 2019 12:00am

CBOT corn futures higher

Chicago Board of Trade corn futures ended higher on Monday as bargain-buying and worries about US planting delays help lift values after the front seven contracts fell to contract lows, traders said. CBOT July corn settled up 4-3/4 cents at $3.56-1/2 per

Published 15 May, 2019 12:00am

Exchange

CBOT wheat rebounds after contract lows

Chicago Board of Trade wheat futures closed higher on Monday, rebounding from life-of-contract lows, drawing support from bargain buying and a larger-than-expected weekly export inspections figure, traders said. CBOT July soft red winter wheat settled up

Published 15 May, 2019 12:00am

French 'yellow vest' protesters upstage top theatre awards

A group of protesters from the anti-government "yellow vest" movement upstaged France's top annual theatre awards, surging onto the stage to denounce the policies of President Emmanuel Macron. The Moliere Awards, named after France's greatest playwright,

Published 15 May, 2019 12:00am

Four dead, several injured, in Somalia suicide bombing

A suicide bomber killed at least four people and injured several others Tuesday after detonating a car packed with explosives in Mogadishu, Somali security forces said. "A suicide bomber drove a car loaded with explosives into the entrance of Wardhigley D

Published 15 May, 2019 12:00am

Beleaguered Sri Lanka gets long-delayed IMF cash

The International Monetary Fund Tuesday released a long-delayed loan instalment to Sri Lanka, providing financial relief to a government still reeling from the Easter Sunday bombings that claimed 258 lives. The Washington-based lender said it was releasin

Published 15 May, 2019 12:00am

Sri Lanka announces curfew for second straight night

Sri Lanka announced Tuesday a curfew for a second straight night after a man was killed by sword-wielding rioters in an escalating anti-Muslim backlash following the Easter terror attacks. Violence broke out late Monday, three weeks after Islamist extremi

Published 15 May, 2019 12:00am

Angry taxi drivers block airport as Cannes festival opens

French taxi drivers blocked Nice airport Tuesday over a dispute with online ride-hailing services, snarling traffic for hours as film-makers and movie moguls tried to reach the nearby Cannes film festival. Traffic in and out of the airport's two terminals

Published 15 May, 2019 12:00am

Huawei chairman says ready to sign 'no-spy' deal with UK

Chinese telecom giant Huawei is willing to sign a "no-spy" agreement with countries including Britain, the firm's chairman said on Tuesday, as the head of NATO said Britain must preserve secure mobile networks. Liang Hua visited Britain as the government

Published 15 May, 2019 12:00am

Mexico City declares air pollution alert

Mexico City declared an environmental alert Tuesday as a blanket of smog enveloped the sprawling urban area of 20 million people for a fourth straight day. A series of wildfires on the city's outskirts have combined with stagnant weather conditions to clo

Published 15 May, 2019 12:00am

Exchange

British general in Iraq says no elevated Iran threat

The international coalition in Iraq and Syria said Tuesday its troops were not feeling any intensified threat from Iran in the region, seemingly contrary to Trump administration warnings. "There has been no increased threat from Iranian-backed forces in I

Published 15 May, 2019 12:00am

North Korea demands return of US-seized cargo ship

North Korea on Tuesday demanded the return of a cargo ship seized by Washington last week for violating international sanctions, calling it an "unlawful and outrageous act". On Friday, the US Justice Department said it had taken possession of the North Ko

Published 15 May, 2019 12:00am

Exchange

Trump calls trade war with China 'a little squabble'

President Donald Trump on Tuesday labeled the escalating trade war with China "a little squabble" and again accused Beijing of scuttling an agreement when it was near completion. And although he said he has an "extraordinary" relationship with Chinese lea

Published 15 May, 2019 12:00am

Amnesty urges ICC to probe 'crimes against humanity' in Venezuela

Amnesty International said Tuesday it believes the Venezuelan authorities have committed crimes against humanity in their crackdown on anti-government protests, and urged the International Criminal Court to investigate. The rights group said President Nic

Published 15 May, 2019 12:00am

Putin says wants to 'fully restore' Russia-US ties

Russian President Vladimir Putin on Tuesday said he wanted to "fully restore" strained ties between Washington and Moscow, during a visit by US Secretary of State Mike Pompeo. Receiving Pompeo at his residence in the Black Sea resort of Sochi, Putin also

Published 15 May, 2019 12:00am

Exchange

US does 'not seek a war with Iran': Pompeo

US Secretary of State Michael Pompeo on Tuesday said his country is not seeking war with Iran, despite a spike in tensions that has seen the Pentagon dispatch nuclear-capable bombers to the region. Pompeo's comments came during his first official visit to

Published 15 May, 2019 12:00am

CM pays surprise visits to Ramazan bazaars, hospitals

Punjab Chief Minister Sardar Usman Buzdar visited three different districts on Tuesday and inspected Ramazan bazaars, hospitals and other projects there. After his departure from Lahore, the CM directed the pilot to land helicopter at Noorpur Thal where t

Published 15 May, 2019 12:00am

IPO- Pakistan, Pemra vow to promote artists

In a bid to encourage the music industry in the country, Intellectual Property Organisation (IPO-Pakistan) and Pakistan Electronic Media Regulatory Authority (PEMRA) on Tuesday pledged to promote and protect artist community. The commitment came during a

Published 15 May, 2019 12:00am

Telenor invests $4 billion, pays Rs 310 billion taxes: report

Telenor has claimed to be the largest European foreign direct investor in Pakistan with an investment of $4 billion, besides contributing around Rs 310 billion in various forms of direct and indirect taxes to the national exchequer since its operations in

Published 15 May, 2019 12:00am

Senate body grills MoHR officials over alleged misuse of NAP funds

Senate Functional Committee on Human Rights on Tuesday grilled the officials of Ministry of Human Rights over alleged misuse of funds allocated for National Action Plan (NAP) and directed an audit in this regard. The meeting was held with Senator Mustafa

Published 15 May, 2019 12:00am

KBG hails FBR chief's directives

Karachi Businessmen Group has hailed the appointment of Shabbar Zaidi as Federal Board of Revenue (FBR) chairman and hoped for concrete measures to resolve the long lasting issues of trade and industry. Karachi Businessmen Group SVP Muzzammil R Chappal sa

Published 15 May, 2019 12:00am

Australian HC, Waseem Akram open 1992 Cricket World Cup photo exhibition

Legendry cricketer Wasim Akram along with the Australian High Commissioner to Pakistan Margaret Adamson on Tuesday opened an exhibition of photographs from the 1992 Cricket World Cup played in Australia. The exhibition featured the photos of the Pakistani

Published 15 May, 2019 12:00am

Peek Freans Cake Up wins Gold EFFIE Award

Peek Freans Cake Up, a brand of English Biscuit Manufacturers, recently won Pakistan's first ever Effie Award in the Snacks and Desserts category. The marketing campaign titled 'Real Goodness Inside' was curated last year after EBM's venture into the new

Published 15 May, 2019 12:00am

ABL conducts SME awareness session at Larkana

"In line with Allied Bank's corporate social responsibility strategy to create awareness on financial inclusion avenues for the small and medium enterprises & agri financing and to create conducive environment for women entrepreneurs to thrive and prosper

Published 15 May, 2019 12:00am

PCJCCI for adopting Chinese tax model in Pakistan

Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi has said that Pakistan's tax system should be revamped in line with Chinese taxation model, which is based upon growth instead of the regulatory pressures.

Published 15 May, 2019 12:00am

NBP chief highlights bank's support to trade & industry

The President National Bank of Pakistan, Arif Usmani has said that National Bank will keep playing its vital role in strengthening the economy by supporting trade and industry through comprehensive financing as economic growth is key to generate employmen

Published 15 May, 2019 12:00am

Two killed, two injured in Multan firing

At least two people were killed and two others injured in firing of armed man here on Tuesday, police said.

Published 15 May, 2019 12:00am

Tetra Pak hands over six milk testing units to Punjab government

Tetra Pak Pakistan handed over six milk-testing units to the government of the Punjab on Tuesday to assist it in the objective of provision of safe milk to the masses.

Published 15 May, 2019 12:00am

Maryam slams arrest of Amir Muqam's son

Terming the arrest of the PML-N leader Ameer Muqam's son by Federal Investigation Agency (FIA) as blatant political victimization, the PML-N Vice-President Maryam Nawaz said that arrest has been made at the behest of political rivals.

Published 15 May, 2019 12:00am

ICAP announces CAF exams result

The Institute of Chartered Accountants of Pakistan has announced the result of Certificate in Accounting and Finance (CAF) Examination held in March 2019, 791 candidates passed CAF Examination whereas 6340 candidates have obtained permanent credit.

Published 15 May, 2019 12:00am

Power sector: Experts term Rs 960.55 million revenue requirement by CPPA-G unjustified

The power sector experts have objected to a petition of Central Power Purchase Agency-Guarantee (CPPA-G) for determination of its Market Operation Fee for the fiscal year 2018-19, saying that the revenue requirement of Rs 960.55 million of CPPA-G for the

Published 15 May, 2019 12:00am

Budget 2019-20: FMPAC calls for settlement of all pending claims

Fertilizer industry has called for immediate settlement of all pending subsidy claims worth Rs20.67 billion of the sector through allocation in the coming budget 2019-2020. It also demanded to expedite the outstanding tax refunds which at present stands a

Published 15 May, 2019 12:00am

Pakistan ranks 3rd for newly installed hydropower capacity

The International Hydropower Association (IHA) has ranked Pakistan 3rd in the world for newly installed hydropower capacity. In its recently issued report titled "2019: Hydropower Status Report - Sector Trends and Insights". Formed under the auspices of U

Published 15 May, 2019 12:00am

Partly Facetious : Remember the Asian financial crisis

"So the locals remained unimpressed while foreigners invested in our stock market."

Published 15 May, 2019 12:00am

PSCA extends its e-challaning system

To make people law abiding without deputing traffic wardens on roads, the Punjab Safe Cities Authority (PSCA) has extended the scope of its E-challan system and now the Islamabad registered vehicles will also be receiving fine tickets at their doorsteps.

Published 15 May, 2019 12:00am

SC hears Meesha Shafi plea: trial court directed to decide Ali Zafar defamation case without delay

The Supreme Court on Tuesday directed the trial court to decide defamation case of Ali Zafar against the allegations by Meesha Shafi of sexual harassment without any further delay. A two-member bench comprising Justice Mushir Alam and Justice Qazi Faez Is

Published 15 May, 2019 12:00am

Ministry proposes wheat procurement target of 5.150 million tons

The Ministry of National Food Security and Research has proposed wheat procurement target of 5.150 million tons for 2019, despite damage to crop in South Punjab due to thunderstorms, well informed sources told Business Recorder. Punjab Government,

Published 15 May, 2019 12:00am

Senate Sectt adopts communication, outreach strategy 2019

The Senate Secretariat on Tuesday formally adopted the Communication and Outreach Strategy 2019 in a meeting chaired by Secretary Senate Amjed Pervez Malik. The strategy is an attempt to streamline the communication objectives of the Upper House of the Pa

Published 15 May, 2019 12:00am

Five burnt to death, 10 hurt as van catches fire

At least five people including mother and two children were burnt to death while 10 others were scorched when a passenger van caught fire after gas cylinder explosion. Police said that due to leakage, gas cylinder of a passenger van exploded near Kandhkot

Published 15 May, 2019 12:00am

LHC grants post-arrest bail to Rizvi, Qadri

A division bench of the Lahore High Court on Tuesday granted post-arrest bail to Tehreek-i-Labbaik Pakistan (TLP) chief Khadim Hussain Rizvi and patron-in-chief Pir Afzal Qadri in a case of leading violent protests against acquittal of Aasia Bibi. The ben

Published 15 May, 2019 12:00am

New police law: select committee to finalise draft today: Murtaza

Adviser to the Chief Minister Sindh for Information, Law, and Anticorruption Barrister Murtaza Wahab has said that select committee constituted on new police law will finalize draft by today (Wednesday) which will be presented in Sindh Assembly in its nex

Published 15 May, 2019 12:00am

Four percent tax termed attractive for legalising black money

Tax experts have termed the 4 percent tax rate as attractive for legalisation of black money held in the form of expenditures, sales and assets including foreign assets; however, they said that duration of the scheme is relatively less. Talking to Busines

Published 15 May, 2019 12:00am

NAB files concise statement against Shahbaz, Fawad and Cheema

National Accountability Bureau (NAB) claims that there are irrefutable links among Mian Shahbaz Sharif, Fawad Hassan Fawad and Ahad Khan Cheema, which enabled fraudulent and corrupt practices committed on a large scale. The NAB on Tuesday filed concise st

Published 15 May, 2019 12:00am

Exchange

Pakistan delegation arrives in China to attend APG meeting

A ten-member Pakistan delegation led by Secretary Finance and Revenue, Muhammad Younis Dagha is in China to attend a two-day meeting of the Asia Pacific Joint Group (APG) in Guangzhou beginning from Wednesday. The delegation will defend Pakistan's efforts

Published 15 May, 2019 12:00am

METRO wins award

METRO Cash & Carry Pakistan, the leading international wholesale company, was one of the winners at the prestigious Shaukat Khanam Social Responsibility Excellence Award held by the Shaukat Khanum Memorial Cancer Hospital and Research Centre to recognize

Published 15 May, 2019 12:00am

Economic development: KWGA demands efficient tax system

Patron-in-Chief, Anis Majeed and chairman, Malik Zulfiqar of Karachi Wholesale Grocers Association's (KWGA) have said, "We must implement efficient tax system for economic development". While appraising the new chairman Federal Board of Revenue (FBR), Sha

Published 15 May, 2019 12:00am

Askari Life, HRSG sign strategic partnership

Askari Life Assurance Company Limited, one of the leading life insurance companies of Pakistan, has become a strategic partner of HRSG; a recognized innovative business solutions provider. According to this strategic alliance, Askari Life will provide ess

Published 15 May, 2019 12:00am

Askari Life, HRSG sign strategic partnership

Published 15 May, 2019 12:00am

Quetta's Satellite Town blast's FIR registered

The First Information Report (FIR) of the Mini Market Blast, Quetta was filed at a Counter Terrorism Department (CTD) police station on Tuesday. The case was lodged on the complaint of the Satellite Town Police Station SHO under terrorism charges of terro

Published 15 May, 2019 12:00am

Faysal Bank partners with Indus Hospital

Faysal Bank Limited has partnered with Indus Hospital to introduce Faysal Islamic Rehmat Account for its customers. Yousaf Hussain, President and CEO, Faysal Bank Limited, signed the MoU along with Dr. Abdul Bari Khan, CEO Indus Hospital, in the presence

Published 15 May, 2019 12:00am

Hot and dry weather forecast for Sindh

A hot and dry weather is expected to prevail over the most parts of the country in the next 24 hours, the Met Office said on Tuesday. It said that a very hot weather is likely to continue in Sindh during daytime. Scattered dust-thunderstorm with rain is e

Published 15 May, 2019 12:00am

Postings, transfers: SHC directs Sindh government to legislate police rules by May 21

Sindh High Court (SHC) on Tuesday showed concern that its orders on police rules for postings and transfers have not been implemented even after passage of three months and directed Sindh government to legislate on it by May 21. A division bench of SHC co

Published 15 May, 2019 12:00am

'Law needed to avoid hasty borrowings'

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain said Fiscal Responsibility and Debt Limitation (FRDL) Act, 2005 has not served its purpose, therefore, an effective law should be introduced to deter rulers from irresponsib

Published 15 May, 2019 12:00am

BankIslami, EFU Life join hands for BancaTakaful business

BankIslami Pakistan Limited and EFU Life Assurance Limited have entered into strategic alliance for distribution of EFU Life's Hemayah Family Takaful products. BankIslami is one of the leading Islamic banks operating through a network of 330 branches in 1

Published 15 May, 2019 12:00am

FBR chief's decisions hailed

Patron-in-Chief of Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry has welcomed the working policy of Chairman Federal Board of Revenue Syed Shabbar Zaidi, adding that it would help to restore the confidence of the business communi

Published 15 May, 2019 12:00am

CDA to expedite anti-encroachment drive

The chairman and board members of Capital Development Authority (CDA) reviewed anti-encroachment drive of the civic agency on Tuesday and instructions were passed to expedite the activity. The DG (works) was tasked to ensure that violations of right of wa

Published 15 May, 2019 12:00am

Polythene bags major cause of lung cancer, NA body told

A parliamentary panel was informed on Tuesday that excessive use of polythene bags is a major cause of lung cancer in the country. This was revealed before the National Assembly Standing Committee on Science and Technology, which met with Sajid Mehdi in t

Published 15 May, 2019 12:00am

FBR chief's steps to help restore businessmen's trust: LCCI

The Lahore Chamber of Commerce and Industry Tuesday lauded the steps taken by Chairman Federal Board of Revenue Shabbar Zaidi and hoped it would help in restoring the confidence of the business community. LCCI President Almas Hyder said that soon after as

Published 15 May, 2019 12:00am

Fake accounts case: NAB summons Zardari on May 17

National Accountability Bureau (NAB) has again summoned Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on May 17 in fake bank accounts case. Sources said that NAB's combined investigation team (CIT) has summoned Bilawal in the Park Lane case

Published 15 May, 2019 12:00am

Senate body seeks briefing on NAP's implementation

The Senate Standing Committee on Interior Tuesday asked Ministry of Interior to brief it within two weeks with respect to implementation of National Action Plan (NAP) devised to counter terrorism in the country. The parliamentary body, which met here with

Published 15 May, 2019 12:00am

Senate body discusses PTCL employees' pension issue

A subcommittee of Senate Standing Committee on Information Technology and Telecommunication (IT&T) in its meeting on Tuesday discussed the issue of payment of increase in pension of the retired employees of Pakistan Telecommunication Company Limited (PTCL

Published 15 May, 2019 12:00am

Exchange

China staunch supporter of Pakistan on counter-terrorism: spokesperson

A spokesperson of the Chinese Foreign Ministry Geng Shuang declared that China will remain a staunch supporter of Pakistan on counter-terrorism efforts. "We commend and thank the Pakistani security forces for safeguarding peace and stability in Gwadar and

Published 15 May, 2019 12:00am

UAE envoy calls on Hafeez Shaikh

Ambassador of the United Arab Emirates, Hamad Obaid Ibrahim Salem Al-Zaabi, called on the Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh on Tuesday. Both the sides discussed bilateral ties and emphasized the nee

Published 15 May, 2019 12:00am

Regional challenges cannot be addressed in isolation: NA speaker

Speaker National Assembly Asad Qaiser has said that regional challenges cannot be addressed in isolation; rather, a concerted action under the umbrella of the United Nations will prove highly effective. "Strong regional cooperation is central to tackling

Published 15 May, 2019 12:00am

Aurat March: IHC reserves verdict in Intra-Court Appeal filed against organizers

The Islamabad High Court (IHC) Tuesday reserved verdict in an Intra-Court Appeal (ICA) filed against a single bench judgement which had turned down a petition against the organisers of Aurat March. A division bench of IHC comprising Justice Aamer Farooq a

Published 15 May, 2019 12:00am

Nepra directs Mepco to submit report about fatal accident

National Electric Power Regulatory Authority (Nepra) has taken serious notice of a public fatal accident in the service territory of Multan Electric Power Company (Mepco) which occurred on May 12, 2019 and has directed the company to provide a detailed re

Published 15 May, 2019 12:00am

IMF deal may have far-reaching consequences for country: JI chief

Emir Jamaat-e-Islami Sirajul Haq has said that financial agreements are being finalised through non-elected people and International Monetary Fund (IMF) deals can have far-reaching consequences for the country. He said this while speaking at an Iftar dinn

Published 15 May, 2019 12:00am

Two months ban on fishing likely by month-end

The Sindh government is set to place a two-month ban on hunt of fish and shrimp during June and July to help improve fisheries stocks in the country's seas, official said on Tuesday. Talking to Business Recorder, officials said that a notification to exec

Published 15 May, 2019 12:00am

Iranian experts to train KP mineral sector's manpower: CG

Iranian Consul-General Mohammad Baqir Beigi Wednesday said that Iranian mineral experts would impart technical training to mineral sector manpower of Khyber Pakhtunkhwa and in this connection the mineral sector experts of Iran would organize workshops tha

Published 15 May, 2019 12:00am

Bilawal's security: SHC summons interior ministry official

Sindh High Court (SHC) on Tuesday summoned Interior Ministry official in the next hearing of the petition pertaining to security threats to Chairman Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari. A division bench of the SHC headed by Chief

Published 15 May, 2019 12:00am

EMCO Industries Limited

The roots of Electrical Equipment Manufacturing Company Ltd. (EMCO) date back to pre-partition days when the Imperial Electric Company (Pvt) Ltd. was established in 1931. It started off with production of electrical insulators used in power systems. With

Updated 15 May, 2019 06:32am

EMCO Industries Limited

Published 15 May, 2019 12:00am

The plight of Palestinians

This is apropos a Business Recorder news item "Qatar distributes Gaza funds" carried by the newspaper yesterday. According to it, Qatar began distributing millions of dollars in aid in the Gaza Strip on Monday in a fresh bid to restore calm after a

Published 15 May, 2019 12:00am

Could Gulf tensions lead to Iran-US war?

A surge of tensions in the Gulf has shown the risk of a military confrontation between arch-foes Iran and the United States, even if any conflict would likely be marked by guerrilla warfare rather than full-scale battles, analysts say.

Published 15 May, 2019 12:00am

Tax evasion in tobacco industry

Steal a little and they'll put you in jail, steal a lot and they'll make you king. This famous English proverb is so true when it comes to Pakistan. Illicit trade in tobacco is considered the most lucrative money making business in Pakistan due to evasion

Published 15 May, 2019 12:00am

Exchange

No surprises

The technical agreement reached between the IMF and Pakistan does not carry any surprises except, of course, the matter about market determining the exchange rate. But over the last several months this issue has been discussed and debated so threadbare th

Published 15 May, 2019 12:00am

Madrassa reform yet again

Madrassas (religious seminaries) are in the news again in recent days. On May 6, 2019, Federal Education Minister Shafqat Mahmood revealed in a press conference that his ministry had completed its initial work to register all 30,000 madrassas in the count

Updated 15 May, 2019 06:55am

Exchange

The implications of IMF package

The deal with the International Monetary Fund (IMF) was expected to ease market jitters and pave the way for a climate conducive to productivity and growth. The first reaction of the stock market to the deal announced on Sunday by the Advisor to the Prime

Updated 15 May, 2019 06:55am

More protests in IoK over child's rape

Police in Indian-occupied Kashmir fired tear gas on Tuesday as thousands of students protested for a second day over the alleged rape of a three-year-old child. On Monday more than 70 people were injured, at least 50 of them from the security forces, as d

Published 15 May, 2019 12:00am

More protests in IoK over child's rape

Published 15 May, 2019 12:00am

As risks rise, too little is spent to avert disasters: UN, Red Cross

Governments and businesses are still investing far too little to protect poor communities at rising risk from wild weather and other threats, the heads of the UN disaster prevention agency and the Red Cross said Tuesday.

Published 15 May, 2019 12:00am

As risks rise, too little is spent to avert disasters: UN, Red Cross

Published 15 May, 2019 12:00am

Exchange

OGDCL discovers gas & condensate oil in Tando Muhammad Khan

The Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate oil from its exploratory-cum-appraisal well, Mangrio 1, in Nim Block located in district Tando Muhammad Khan, Sindh. The OGDCL has 95 percent share in the block and is t

Published 15 May, 2019 12:00am

Exchange

OGDCL discovers gas & condensate oil in Tando Muhammad Khan

Published 15 May, 2019 12:00am

Exchange

OGDCL discovers gas & condensate oil in Tando Muhammad Khan

Published 15 May, 2019 12:00am

Three labourers gunned down in Dera Murad

Unidentified armed men gunned down three labourers of Punjab and injured another here on Tuesday and fled the scene. According to details, unkn-own gunmen sprayed bullets at labourers engaged in routine work in Dera Murad Jamali area of district Nasirabad

Published 15 May, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 28	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 28 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 28 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 28 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 28 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 28 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 28 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 28 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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