News Archives for Print - 2020-01-06

Print - 2020-01-06

Attack at elite India university injures at least 23

At least 23 people were hurt at a prestigious Indian university on Sunday in what police said were clashes between rival student groups but which an opposition politician blamed on a student organisation linked to Prime Minister Narendra Modi.

Published 06 Jan, 2020 12:00am

India seeks to woo Bollywood stars as citizenship law protests rage on

The Indian government invited numerous Bollywood stars and film industry personalities to a private gathering on Sunday in an effort to garner support for a new citizenship law that has triggered weeks of sometimes violent protests nationwide.

Published 06 Jan, 2020 12:00am

SECP specifically defines SMEs

The Securities and Exchange Commission of Pakistan (SECP) has specifically defined "small enterprise" and "medium enterprise (SME)" seeking financing from financial institutions including Non-Banking Finance Companies.

Published 06 Jan, 2020 12:00am

Exports post 3.21 percent growth in July-December

The country's exports have posted a growth of 3.21 percent during first half (July-December) of current fiscal year. According to provisional foreign trade data, exports stood at $11.540 billion during this period against $11.181 billion in corresponding

Published 06 Jan, 2020 12:00am

Stocks

Futures spread down by 614 basis points

The futures spread declined by 614bps to 2.63 percent on the last day of the outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 58.4 percent to stand at 80.76 million shares as compared to previous

Published 06 Jan, 2020 12:00am

Stocks

Bullish trend witnessed

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on January 3, 2019 on the back of aggressive buying mainly by local investors. BRIndex100 gained 174.69 points on week-on-week basis to close at 4,439.98 points. Average daily

Published 06 Jan, 2020 12:00am

Regulatory authorities: PM directs Cabinet Division to devise separate mechanisms

The Prime Minister Imran Khan has directed the cabinet division to devise separate standard operation procedure (SOPs) with time timelines for those applicants wanted to obtain licenses, permissions or no objection certificates (NOCs) from various Regulat

Published 06 Jan, 2020 12:00am

Russia unveils climate 'adaptation' plan

The Russian government has published a plan to adapt the economy and population to climate change, aiming to mitigate damage but also "use the advantages" of warmer temperatures. The document, published on the government website on Saturday, outlines a pl

Published 06 Jan, 2020 12:00am

Army Act: NA, Senate sessions put off till today

In a dramatic turn of events, the government postponed till Monday (today) the National Assembly and Senate sessions late Friday night, which was summoned on Saturday to pass the amendment to Pakistan Army Act giving a three-year extension to Army Chief G

Published 06 Jan, 2020 12:00am

Mourners flood Iran cities as top general's remains return

Mourners flooded the Iranian cities of Ahvaz and Mashhad Sunday, weeping and beating their chests in homage to top general Qasem Soleimani who was killed in a US strike in Baghdad. "Death to America," they chanted as they packed Ahvaz's streets and a long

Published 06 Jan, 2020 12:00am

Iraq calls for an end to foreign troops

Iraq's parliament called on Sunday for US and other foreign military forces to leave amid a growing backlash against the US killing of a top Iranian military commander that has heightened fears of a wider Middle East conflict.

Published 06 Jan, 2020 12:00am

Qureshi, Iranian counterpart discuss regional security

Foreign Minister Shah Mahmood Qureshi on Sunday telephoned his Iranian counterpart Javad Zarif to discuss the Middle East situation following Soleimani's killing. According to sources, matters pertaining to peace and security in the region were discusse.

Published 06 Jan, 2020 12:00am

US-Iran conflict: Country won't take sides: army

Inter-Services Public Relations (ISPR) Director General Major General Asif Ghafoor Sunday said Pakistan would play the role of a peacemaker and not take sides in the ongoing conflict between the United States and its neighbour Iran.

Published 06 Jan, 2020 12:00am

Money & Banking

THE RUPEE: Mixed trend

Divergent trend was witnessed on the money market as the rupee performed on the both sides versus the dollar during the week, ended on 04 Jan, 2020.

Published 06 Jan, 2020 12:00am

Nankana incident against my 'vision': PM

Prime Minister Imran Khan on Sunday condemned the Nankana incident and said it was different from the state-sponsored oppression of minorities in India. On Friday, dozens of demonstrators had protested over alleged unjust treatment of police in a case inv

Published 06 Jan, 2020 12:00am

Kuwait signs long-term deal to import gas from Qatar

State-owned Kuwait Petroleum Corp on Sunday signed a long-term contract with Qatar Petroleum to purchase three million tonnes of liquefied natural gas per year, a statement said.

Published 06 Jan, 2020 12:00am

Overdue receivables: OGDCL seeks PD's help for settlement of Rs 350 billion

Oil and Gas Development Company Limited (OGDCL), has sought help of Petroleum Division for settlement of a portion of its overdue receivables of Rs 350 billion from the long due Sukuk of Rs 200 billion meant to clear a portion of circular debt, sources cl

Published 06 Jan, 2020 12:00am

Fawad gives TV anchorperson a slap

Federal Minister for Science and Technology Fawad Chaudhry slapped TV anchorperson Mubashir Luqman after exchanging harsh words with him during the wedding ceremony of Punjab Irrigation Minister Mohsin Laghari's son late on Saturday.

Published 06 Jan, 2020 12:00am

Domestic gas supplies may reduce by over 28 percent in 2024

Pakistan's domestic gas supplies are projected to deplete by more than 28 percent to mere 2.3bcfd in 2024 from the existing output of 3.2bcfd, raising the fuel's shortage for domestic users, industrial consumers, urea producers and power generation to 5.5

Published 06 Jan, 2020 12:00am

SSGC's dues against PSM: MoI&P seeks Rs 80 million supplementary grant

Ministry of Industries and Production (MoI&P) has reportedly sought supplementary grant of Rs80 million from the Finance Ministry through the Economic Coordination Committee (ECC) of the Cabinet to clear Sui Southern Gas Company (SSGC) dues meant to avert

Published 06 Jan, 2020 12:00am

Income tax returns and wealth statements: FMU will have access to taxpayers' information

The Financial Monitoring Unit would have access to the taxpayer's personal information of income tax returns and wealth statements, available with the Federal Board of Revenue (FBR), for performing functions under Anti-Money Laundering Act, 2010.

Published 06 Jan, 2020 12:00am

Human rights of Kashmiris: PM urges UN to honour its commitments

Prime Minister Imran Khan has said that 5th January reminds the international community, especially the United Nations, of the imperative of honouring its commitment towards the people of Jammu and Kashmir.

Published 06 Jan, 2020 12:00am

Letters

Country's exports

Business Recorder op-ed writer Shabir Ahmed always comes up with a fascinating argument to build up his case. In his latest op-ed "Exports: the lesser god on govt's totem pole" , he makes a sardonic comment on Adviser to PM Razak Dawood's approach

Updated 06 Jan, 2020 08:30am

Articles

Overload on train to IOK's internet oasis

Every day the train to occupied Kashmir's remote cyber oasis Banihal is packed as people travel for hours to get online in the disputed region where internet has been cut for five months. The mountain town of fewer than 4,000 people has six internet cafes

Published 06 Jan, 2020 12:00am

Articles

Destination 2020

Guess which is the top tourist destination to visit in 2020. France, wrong. Malaysia, wrong, Maldives, wrong. India, absolutely wrong. It is Pakistan, yes, believe it or not, but Pakistan it is. This is something we all have dreamt and talked about for de

Published 06 Jan, 2020 12:00am

Articles

Legacy power contracts

As reported by the press, NEPRA Chairman Tauseef H. Siddiqui stated last month that Pakistan is being held to an expensive electricity 'ransom' whereby the government "purchases electricity at Rs 24 per unit and sells it to consumers at Rs 15 -16 per unit

Published 06 Jan, 2020 12:00am

Escalating US-Iran tensions

President Trump had promised to withdraw US troops from the Middle East but the drone strike he ordered on Friday at Baghdad Airport, killing Qassem Soleimani, commander of Iran's elite Quds Force, has increased the risk of tensions escalating into a wide

Updated 06 Jan, 2020 06:28am

Withdrawal of import duties on cotton

In its meeting held on 30th December, 2019, the Economic Coordination Committee (ECC), headed by the Advisor to the Prime Minister on Finance, Dr Hafeez Shaikh, waived all duties and taxes on import of cotton and also allowed its import via the Torkham bo

Updated 06 Jan, 2020 06:28am

Rally held to mark Kashmiri's 'Right to Self-determination Day' at SU

People of occupied Kashmir have been brought to witness unprecedented horrors in form of most violent massacre as India had been exploiting its inclement troops to act as ruthless oppressive machinery to stifle freedom voice of people of Kashmir.

Published 06 Jan, 2020 12:00am

NAB arrests PPP leader Aijaz Jakhrani's close aide

The National Accountability Bureau, Sukkur, on Sunday claimed to have arrested Zaheer, a close aide to Adviser to Sindh Chief Minister on Prison Aijaz Hussain Jakhrani in Islamabad.

Published 06 Jan, 2020 12:00am

PM to inaugurate New Azakhel Dry port on January 8

A new modern dry port is being established in Pirpai district Nowshera to facilitate business community and boost trade activities in the region that will be formally inaugurated by Prime Minister Imran Khan on January 8, 2020 (Wednesday) next during a ce

Published 06 Jan, 2020 12:00am

'Right to Self-determination to Kashmiris': President urges UN to honour its commitments

President Dr Arif Alvi Sunday while calling the United Nations to honour its commitments made 71 years ago said the Right to Self-Determination Day was a reminder to global community that they could not shy away from their responsibility towards the Kashm

Published 06 Jan, 2020 12:00am

Right to Self- determination Day observed in Hyderabad

Like other parts of the country, the Right to Self-determination Day was also observed in Hyderabad on Sunday to express solidarity with the people of occupied Jammu and Kashmir and their struggle for the right of self determination.

Published 06 Jan, 2020 12:00am

Ijaz Shah visits Nankana Sahib

Interior Minister Brigadier (retd) Ijaz Ahmed Shah on Sunday visited Nankana Sahib to ascertain the facts regarding Friday's incident. Shah said that he was here in Nankana on the directions of the prime minister. "What happened here on Friday was a consp

Published 06 Jan, 2020 12:00am

Chaudhry brothers meet Fazl

Pakistan Muslim League-Quaid (PML-Q) leaders Chaudhry Shujaat Hussain and Chaudhry Pervaiz Elahi on Sunday called on Maulana Fazlur Rehman to convince him for supporting the key bill regarding extension in tenure of the Army Chief. PML-Q leader Hafiz Amma

Published 06 Jan, 2020 12:00am

Manpower export increases 47 percent in 2019

Ministry of Overseas Pakistanis and Human Resource Development (MOP&HRD) has facilitated 563,018 Pakistanis to get jobs in different countries, witnessing a massive increase of 47 per cent in 2019 as compared to 2018 when only 382,439 persons went abroad

Published 06 Jan, 2020 12:00am

Firdous urges UNSC to fulfil its promise with Kashmiris

Special Assistant to the Prime Minster on Information and Broadcasting Dr Firdous Ashiq Awan Sunday urged the United Nations Security Council (UNSC) to give Kashmiris their right to self-determination by fulfilling its promise that it made some 71 years b

Published 06 Jan, 2020 12:00am

Kashmiris observe Right to Self-determination Day

People of Jammu & Kashmir living at both sides of the line of control and rest of the world observed the 'Right of Self Determination Day' on Sunday with renewal of the pledge to continue their ongoing indigenous struggle with full vigor for securing thei

Published 06 Jan, 2020 12:00am

Two bogies of train derail near Kotri

Two bogies of a passenger train derailed near Kotri in Sukkur on Sunday morning. According to railway officials, the down track was blocked for traffic owing to the derailment of the coaches of the Allama Iqbal Express. There are no reports of any injurie

Published 06 Jan, 2020 12:00am

Dacoity in journalist's house: CM seeks report from CCPO

Chief Minister Punjab Sardar Usman Buzdar has sought a report from CCPO Lahore regarding dacoity incident in the house of senior journalist Imtiaz Alam and directed to arrest the culprits at the earliest. He said that immediate legal action should be take

Published 06 Jan, 2020 12:00am

Plan to promote cooperative farming in three districts of Punjab

Agriculture department said that a two-year "Crop maximization through cooperative farming project costing Rs400 million would soon be launched in three districts of the Punjab. Sources in Agriculture department told Business Recorder on Sunday tha

Published 06 Jan, 2020 12:00am

Need for new industrial estates in Sialkot stressed

In order to make vibrant economic activities and industrial development there was a great need of setting up more small industrial estates in this export-oriented city and hub of cottage industry of the country.

Published 06 Jan, 2020 12:00am

Businessmen hail UAE golden visa policy

Pakistan's business community has applauded the United Arab Emirates (UAE) Golden Visa Portal, saying it has made it extremely convenient for investors, entrepreneurs and professionals to apply for long-term visas of five or 10 years.

Published 06 Jan, 2020 12:00am

Non-compliance of employment code: 27 foreign recruiting firms blacklisted in 2019

Bureau of Emigration and Overseas Employment (BEOE) has blacklisted 27 foreign recruiting firms in 2019, barring them from operating in Pakistan further due to non-compliance of the employment code agreed with the emigrants at the time of their recruitmen

Published 06 Jan, 2020 12:00am

Cotton & Textile

Knitwear worth $1.320 billion exported in five months

Knitwear exports from the country during first five months of current financial year grew by 8.69 percent as compared the exports of the corresponding period of last year.

Published 06 Jan, 2020 12:00am

Zulfikar Ali Bhutto laid down life for country: Ghani

Sindh Minister for Information, Archives and Labour Saeed Ghani has said that Shaheed Zulfikar Ali Bhutto laid down his life in the service of his country and the people he loved so much.

Published 06 Jan, 2020 12:00am

Substantial raise witnessed in prices of essential food items

A considerable increase in prices of essential food commodities, including pulses, vegetable, flour, sugar and others was witnessed in preceding week as compared to previous week in retail market, according to survey carried out by Business Recorder </

Published 06 Jan, 2020 12:00am

KP Mineral department: AGP detects financial irregularities worth Rs 364.128 million

The Auditor General of Pakistan (AGP) has detected three cases of the illegal operation, unauthorized sale and wasteful expenditure to the tone of Rs 364.128 million in the accounts of the Mines and Mineral Development Department of Khyber Pakhtunkhwa dur
Published 06 Jan, 2020 12:00am

Money & Banking
Finance Ministry clarifies

Finance Ministry said on Sunday that the process for incorporating a company in Pakistan for a married man or woman is the same. The Ministry clarified in response to a tweet by the World Bank country Director for Pakistan, Illango that in Pakistan, marri
Published 06 Jan, 2020 12:00am

EOBI disburses Rs 33 billion among pensioners: chairman

The Employees Old Age Benefits Institution (EOBI) has disbursed Rs33 billion among 623,000 beneficiaries through various projects, besides generating Rs21 billion revenue during fiscal year 2018-2019. "The EOBI will be paying Rs 40 billion to the pensione
Published 06 Jan, 2020 12:00am

Amendments to Army Act: Firdous hopes all parties will support government

Special Assistant to Prime Minister (SAPM) on Information and Broadcasting Dr Firdous Ashiq Awan said on Sunday opposition had showed its national responsibility over the issue of bill regarding amendments to Army Act.
Published 06 Jan, 2020 12:00am

Energy
CNG stations reopen across Sindh for 12 hours

Compressed Natural Gas (CNG) stations reopened across Sindh on Sunday morning for 12 hours. Long queues of all kinds of vehicles were witnessed outside the CNG stations as they opened after a gap of 50 hours. The gas filling stations will remain open unti
Published 06 Jan, 2020 12:00am

Industrial revolution vital for sustainable economic growth: ATP

Chairman, Aman Taraqqi Party (ATP), Muhammad Faiq Shah has said the industrial revolution is essential for bringing sustainable economic growth and development in country.
Published 06 Jan, 2020 12:00am

Cotton & Textile
WEEKLY COTTON REVIEW: Trend of increase in prices continues

The trend of increase in the prices of cotton continues despite elimination of import duty on cotton. US - Iran conflict feared to have a negative impact on the international economy. It is expected that exporters will get orders in Heimtexill internation
Published 06 Jan, 2020 12:00am

CDA likely to generate Rs 2.5 billion through building by-laws' compliance

Capital Development Authority (CDA) is likely to generate around Rs2.5 billions on compliance of building by-laws by different commercial premises situated at sectorial area of the city.
Published 06 Jan, 2020 12:00am

AML Act 2010: Parliamentary panel may approve amendments today

A parliamentary panel would take up and may approve today (Monday) critically important proposed bill to further amend the Anti-Money Laundering (AML) Act 2010 which would help the country to comply with the recommendations of financial action task force
Published 06 Jan, 2020 12:00am

Passage of Army Act: Constitutional, legal questions to be addressed by apex court: expert

The passage of the bill to amend Pakistan Army Act, 1952, will not have any bearing on the review petitions as constitutional and legal questions raised therein need to be addressed by the apex court, said a legal expert while talking to this corresponden
Published 06 Jan, 2020 12:00am

Demonstrations held against killing of Soleimani

The assassination of Iranian Major General Qasem Soleimani has triggered protest demonstrations in parts of Pakistan including Karachi as hundreds of protesters including women and children took to city roads to denounce the US military air strike in Bagh
Published 06 Jan, 2020 12:00am

Brief Recordings
An interview with Karachi Cotton Association Chairman Khawaja Muhammad Zubair 'Poor seed quality poses an existential threat to domestic cotton'

P Khawaja Muhammad Zubair is a reputable name in the cotton industry, thanks to his long-term association with cotton inspection business. He is the CEO Baltic Control's Pakistan office, a global inspection, verification, testing and certification company
Updated 06 Jan, 2020 10:55am

Regime air strikes kill nine in northwest Syria

Syrian regime air strikes killed nine civilians in the embattled opposition stronghold of Idlib on Sunday, a war monitor said. Jihadist-dominated Idlib has come under mounting bombardment in recent weeks, displacing tens of thousands of people in the nort
Published 06 Jan, 2020 12:00am

'Serious' cyber attack hits Austrian ministry

Austria's foreign ministry has been targeted by a "serious cyber attack", officials said, warning another country could be responsible.
Published 06 Jan, 2020 12:00am

Guaido says Venezuela police block access to parliament

Venezuela's opposition leader Juan Guaido hit out at the police on Sunday for preventing him from attending the National Assembly where he was due to be voted in for a second term as parliament speaker. Lawmakers were due to elect the new National Assembl
Published 06 Jan, 2020 12:00am

Saudi Arabia slams Turkish approval of Libya deployment

Saudi Arabia on Sunday condemned the Turkish parliament's approval of a military deployment to Libya, which is aimed at shoring up the UN recognised government in Tripoli.
Published 06 Jan, 2020 12:00am

Five dead, dozens hurt in 'horrible' US highway crash

Five people died and dozens were injured in a "horrible" crash involving a tour bus and three tractor trailers on a major US highway Sunday.
Published 06 Jan, 2020 12:00am

Iran summons German envoy over 'unacceptable' remarks

Iran Sunday summoned Germany's charge d'affaires over "unacceptable" remarks by German officials after the killing of a top general in a US strike, the foreign ministry said. In the aftermath of Friday's US drone strike that killed General Qasem Soleimani
Published 06 Jan, 2020 12:00am

Nearly Aus$25 million raised as Australia reels from bushfire fury

A global appeal to help Australian firefighters tackling catastrophic bushfires raised almost Aus$25 million on Sunday, as swathes of the country suffered extensive damage and the death toll from the long-running crisis hit 24.
Published 06 Jan, 2020 12:00am

New Zealanders call emergency services over 'scary' skies

Smoke from Australia's bushfires drifting over to New Zealand caused a flood of emergency calls on Sunday as people reported a thick orange haze hovering over Auckland. In recent days the smoke had covered much of the South Island, making usually pristine
Published 06 Jan, 2020 12:00am

China rules out SARS in mystery viral pneumonia outbreak

China on Sunday said a mysterious viral pneumonia outbreak that has affected 59 people was not the flu-like virus SARS that killed hundreds more than a decade ago. The infection was first reported last week in Wuhan, a central Chinese city with a populati
Published 06 Jan, 2020 12:00am

Japanese woman extends record as world's oldest person

Kane Tanaka has extended her record as the world's oldest person by celebrating her 117th birthday at a nursing home in Fukuoka in southern Japan. Tanaka marked her birthday with a party on Sunday along with staff and friends at the nursing home, televisi
Published 06 Jan, 2020 12:00am

Six Germans die as drunk driver hits pedestrians in Italian Alps

A drunk driver ploughed into pedestrians in an Italian Alpine village on Sunday, killing six German tourists and injuring 11 other people, emergency services said. The accident happened at around 1:15 am (0015 GMT) in the village of Lutago near the Austri
Published 06 Jan, 2020 12:00am

Britain urges Iraq to stick with anti-IS coalition troops

London has urged Baghdad to allow international coalition soldiers to stay in Iraq, where the parliament on Sunday pressed the government to oust foreign troops. Iraq's parliament urged the country's government to oust thousands of chiefly US soldiers fro
Published 06 Jan, 2020 12:00am

Iraqi protesters denounce twin 'occupiers' US and Iran

Iraqi protesters flooded the streets on Sunday to denounce both Iran and the US as "occupiers", angry that fears of war between the rivals was derailing their anti-government movement. For three months, youth-dominated rallies in the capital and Shia-majo
Published 06 Jan, 2020 12:00am

Money & Banking
Brazil's real to stay soft

Brazil's real will trade not far off record lows into the new year, receiving eventual support from a tentative economic recovery after months of unconvincing macro performance that has dragged the currency down, a Reuters poll showed.
Published 06 Jan, 2020 12:00am

Stocks
Egypt's Exchange targets IPOs of 3-4 private companies

Egypt's Stock Exchange targets to have initial public offerings of three to four private sector companies in 2020, its chairman Mohamed Farid said on Tuesday. The last IPO of a private company was earlier this month by the Egyptian generic drug maker Rame
Published 06 Jan, 2020 12:00am

Stocks
Loonie to extend this year's rally if global risks abate

The Canadian dollar will add to this year's gains over the coming 12 months as a potential easing of global economic risk reduces pressure on the Bank of Canada to provide support for Canada's commodity-linked economy, a Reuters poll showed.
Published 06 Jan, 2020 12:00am

Stocks
Where's the risk? US fund managers bet on bull run in 2020

With the UK election results giving some certainty to the Brexit process, a US-China trade deal all but signed and the Federal Reserve signaling that it will stand steady for the foreseeable future, there are three fewer hurdles standing in the way of glo
Published 06 Jan, 2020 12:00am

Stocks
Brazil's stock exchange operator B3 reduces, simplifies trading fees

Brazilian financial exchange operator B3 said on Thursday it is reducing and simplifying fees investors pay to trade stocks and over-the-counter products, moves intended to increase efficiency, activity and competition.
Published 06 Jan, 2020 12:00am

Stocks
Era of low sovereign bond yields to persist well into 2020

Major sovereign debt yields will feel the pull of gravity well into next year, with the US 10-year benchmark barely rising by the end of 2020, according to a Reuters poll of fixed-income strategists.
Published 06 Jan, 2020 12:00am

Stocks
Chinese companies' hedging activities spike amid trade war uncertainty

Corporate China's hedging activities spiked over the past two years as the Sino-US trade war and a slowing economy prompted companies to embrace the country's rapidly growing derivative market to reduce uncertainty, data shows.
Published 06 Jan, 2020 12:00am

Stocks
Aramco sinks as Gulf bourses rocked by Iran-US tensions

Saudi Aramco shares hit the lowest level since their market debut on Sunday, as Gulf bourses were hit by a panicky sell-off amid Iranian vows of retaliation over the US killing of a top general.
Published 06 Jan, 2020 12:00am

Commodities
Japan 'Tuna King' buys new year catch for $1.8 million

A celebrated Japanese sushi businessman, nicknamed "Tuna King", paid $1.8 million for a giant tuna at New Year's auction at Tokyo's main fish market on Sunday. Kiyoshi Kimura, who runs a successful sushi restaurant chain, paid 193 million yen ($1.8 millio
Published 06 Jan, 2020 12:00am

Global Business Economy
ChemChina, Sinochem merge agricultural assets

ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection company ADAM
Published 06 Jan, 2020 12:00am

Global Business Economy
Japan blasts 'unjustifiable' Ghosn's escape

Carlos Ghosn's escape from Japan is "unjustifiable" and he is thought to have left the country using "illegal methods", the Japanese justice minister said Sunday, in the first official public comments on the case.
Published 06 Jan, 2020 12:00am

Energy
Russia begins TurkStream gas flows to Greece, North Macedonia

Russia has started European gas deliveries through the new TurkStream pipeline to Turkey, Bulgaria's Bulgartransgaz said on Sunday, as Moscow looks to reduce shipments via Ukraine. Russia is building TurkStream and doubling the capacity of NordStream acro
Published 06 Jan, 2020 12:00am

IT & Computers
Amid technology turmoil, celebration at global electronics show

The Consumer Electronics Show opening Tuesday offers a chance to showcase the newest and shiniest gadgetry, looking past the turmoil engulfing the global technology industry. The annual Las Vegas gathering with more than 4,500 exhibitors brings out about
Published 06 Jan, 2020 12:00am

Money & Banking
Fed policymakers broadly see eye to eye on 2020 outlook

Federal Reserve policymakers who last year were frequently at odds over where to set US borrowing costs opened 2020 telegraphing confidence in the state of the economy and signalling broad agreement that monetary policy is right where it should be.
Published 06 Jan, 2020 12:00am

IT & Computers
CEO Tim Cook sees pay ebb along with Apple performance

Apple chief Tim Cook saw his annual pay slip to $11.6 million in 2019 after the company registered a weaker financial performance compared with the previous year, according to documents filed Friday.
Published 06 Jan, 2020 12:00am

Energy
Exxon signals Q4 weakness in chemicals and refining, offset by asset sale

Exxon Mobil Corp's fourth quarter operating results will decline from a year ago due to weakness in chemicals and refining, according to a regulatory filing and analyst comments on Friday.
Published 06 Jan, 2020 12:00am

Energy
Power cuts return to South Africa

South Africa's electricity utility Eskom at the weekend resumed power outages, citing a "vulnerable" generating system, just weeks after implementing the severest rationing in recent times.
Published 06 Jan, 2020 12:00am

Global Business Economy
South Korean builder takes control of Asiana Airlines for $2.2 billion

A South Korean construction firm on Friday signed a deal to acquire Asiana, the country's second-largest airline, which has long been plagued by financial problems.
Published 06 Jan, 2020 12:00am

Global Business Economy
Next's strong Christmas boosts hopes for UK retail sector

British clothing retailer Next raised its full-year profit forecast after a better-than-expected Christmas performance, fuelling hopes the wider sector may have enjoyed solid festive trading and see a pick up in fortunes in 2020.
Published 06 Jan, 2020 12:00am

Global Business Economy
US holiday returns surge with booming e-commerce

United Parcel Service Inc on Thursday expects to ship 1.9 million gifts and other items back to US retailers as e-commerce fuels an anticipated 26% year-over-year volume surge on "National Returns Day." January 2 is the busiest day for holiday returns in
Published 06 Jan, 2020 12:00am

Money & Banking
HSBC kicks off year with Hong Kong branches closed, vandalized

HSBC is being drawn into Hong Kong's political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-centre headquarters.
Published 06 Jan, 2020 12:00am

Global Business Economy
Uber sues California over gig-economy labor law

Ride-hailing giant Uber and delivery company Postmates have filed a lawsuit against the state of California, claiming a new law that would treat gig-economy freelancers as employees is unconstitutional.
Published 06 Jan, 2020 12:00am

Money & Banking
UK companies turn a little less gloomy over Brexit impact: BoE survey

British businesses turned less gloomy last month about Brexit's eventual impact even though they expected the uncertainty to persist for longer, according to a survey conducted either side of Prime Minister Boris Johnson's election win.
Published 06 Jan, 2020 12:00am

Global Business Economy
Trade wars are holding cross-border M&A hostage

Protectionism has crept from government departments to corporate boardrooms. The value of global deals struck in 2019 exceeded $3.8 trillion, but cross-border transactions were down by a quarter. Blame US President Donald Trump's sabre-rattling on trade,
Published 06 Jan, 2020 12:00am

Global Business Economy
Tencent gets into global groove with stake in Vivendi's Universal

A Tencent-led consortium is taking a 10% stake in Vivendi's Universal Music Group, valuing the music label that houses Lady Gaga and The Beatles at 30 billion euros ($34 billion) and giving the Chinese firm a global backstage pass.
Published 06 Jan, 2020 12:00am

Global Business Economy
Hyundai, Kia sales drop on China weakness, forecast better 2020

South Korea's Hyundai Motor and affiliate Kia Motors turned in their lowest sales in seven years in 2019 as business in China slumped, missing their target for a fifth straight time, but forecast better numbers for 2020.
Published 06 Jan, 2020 12:00am

2019 was hottest year on record for Russia

This year was the hottest ever registered in Russia, the country's weather chief said on Monday, as climate change pushes global temperatures to record highs. "This year in Russia was the hottest for the entire period of instrumental observations," the he
Published 06 Jan, 2020 12:00am

Thailand kicks off 2020 with plastic bag ban

Thailand began the year with a ban on single-use plastic bags at major stores, continuing a campaign launched by the government and retailers towards a complete ban in 2021 to reduce waste and debris in the sea. Public awareness of the risk to animals and
Published 06 Jan, 2020 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 27

293.94

Gainers
Losers
Leaders

Stock Price

786 Invest Ltd / Apr 27

786 Investments Limited(786)

5

▼ 0.00 (0.00%)

AL-Abbas Sugar / Apr 27

Al-Abbas Sugar Mills Limited(AABS)

585

▼ 0.00 (0.00%)

Agro Allianz / Apr 27

Agro Allianz Limited(AAL)

16

▼ 0.00 (0.00%)

AL-Abid Silk / Apr 27

Al-Abid Silk Mills Limited(AASM)

3.49

▼ 0.00 (0.00%)

Ali Asghar / Apr 27

Ali Asghar Textile Mills Limited(AATM)

2.07

▼ 0.00 (0.00%)

Allied Bank / Apr 27

Allied Bank Limited(ABL)

87.10

▼ 0.00 (0.00%)

Abbott Lab. / Apr 27

Abbott Laboratories (Pakistan) Limited(ABOT)

499.34

▼ 0.00 (0.00%)

Abson Ind. / Apr 27

Abson Industries Limited(ABSON)

2.50

▼ 0.00 (0.00%)

Alfalah ETF. / Apr 27

Alfalah Consumer Index ETF.(ACIETF)

9.84

▼ 0.00 (0.00%)

Stock Price

786 Invest Ltd / Apr 27

786 Investments Limited(786)

5

▲ 0.00 (0.00%)

AL-Abbas Sugar / Apr 27

Al-Abbas Sugar Mills Limited(AABS)

585

▲ 0.00 (0.00%)

Agro Allianz / Apr 27

Agro Allianz Limited(AAL)

16

▲ 0.00 (0.00%)

AL-Abid Silk / Apr 27

Al-Abid Silk Mills Limited(AASM)

3.49

▲ 0.00 (0.00%)

Ali Asghar / Apr 27

Ali Asghar Textile Mills Limited(AATM)

2.07

▲ 0.00 (0.00%)

Allied Bank / Apr 27

Allied Bank Limited(ABL)

87.10

▲ 0.00 (0.00%)

Abbott Lab. / Apr 27

Abbott Laboratories (Pakistan) Limited(ABOT)

499.34

▲ 0.00 (0.00%)

Abson Ind. / Apr 27

Abson Industries Limited(ABSON)

2.50

▲ 0.00 (0.00%)

Alfalah ETF. / Apr 27

Alfalah Consumer Index ETF.(ACIETF)

9.84

▲ 0.00 (0.00%)

Stock Volume

P.I.A.C.(A) / Apr 27

Pakistan International Airlines Corp(PIAA)

47,200,500

▲ 0.00

Cnergyico PK / Apr 27

Cnergyico PK Limited(CNERGY)

29,719,327

▲ 0.00

Pak Petroleum / Apr 27

Pakistan Petroleum Limited(PPL)

21,170,581

▲ 0.00

Pak Refinery / Apr 27

Pakistan Refinery Limited(PRL)

16,965,134

▲ 0.00

The Searle Co. / Apr 27

The Searle Company Limited(SEARL)

15,793,227

▲ 0.00

P.T.C.L. / Apr 27

Pakistan Telecommunication Company Ltd(PTC)

15,054,641

▲ 0.00

K-Electric Ltd. / Apr 27

K-Electric Limited(KEL)

14,145,556

▲ 0.00

WorldCall Telecom / Apr 27

Worldcall Telecom Limited(WTL)

13,158,668

▲ 0.00

Telecard Limited / Apr 27

Telecard Limited(TELE)

12,358,668

▲ 0.00

Markets →

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Today

Yesterday

Past 3 Days

Net metering power: Govt mulling bringing buyback rates down to Rs11/unit from Rs21

Prices of petrol, diesel likely to be slashed

PBC floats 5-year ‘exports charter and imports substitution plan’

Pakistan misses wheat production target

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Annual rental value property: Sindh govt given three months to legislate on levy of tax

Justice Isa says received no complaints of meddling in judicial affairs since becoming CJP

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Sazgar Engineering Works Limited

Net metering power: Govt mulling bringing buyback rates down to Rs11/unit from Rs21

Pakistan misses wheat production target

FBR’s POS system: 1,680 Tier-1 retailers told to integrate by May 31st

Liquidation of certain appellate fora: Cabinet approves amendments to tax laws

Tax law amendment bill introduced in NA

The Organic Meat Company secures another $4mn export contract to UAE firm

Rupee sustains minor loss against US dollar

Investment and loss reduction: KE’s 7-year plan approved by Nepra

NJLI Sarmaya Growth Fund Rates

Net metering power: Govt mulling bringing buyback rates down to Rs11/unit from Rs21

Pakistan misses wheat production target

Expenditure cut steps likely in FY25 budget

NJLI Sarmaya Growth Fund Rates

Gold price per tola falls massive Rs7,800 in Pakistan

3.2 magnitude earthquake hits parts of Karachi

Prices of petrol, diesel likely to be slashed

FBR’s POS system: 1,680 Tier-1 retailers told to integrate by May 31st

Gold price per tola increases Rs1,100 in Pakistan

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 27	293.94

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00