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Apr 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2020-01-23
FDI inflows decline 20 percent

FDI inflows decline 20 percent

Foreign Direct Investment (FDI) inflows into Pakistan declined by 20 percent to $1.9 billion in 2019 (calendar year) against $2.4 billion in 2018, with Bangladesh in second place in the region with a 6 percent decline to $3.4 billion according to the Unit
Published 23 Jan, 2020 12:00am
KSE-100 Index stays bearish: BRIndex100 flat
Stocks

KSE-100 Index stays bearish: BRIndex100 flat

Pakistan Stock Exchange Wednesday ended on a negative note due to selling in various sectors. BRIndex100 lost 1.31 points or 0.03 percent to close at 4,468.25 points. BRIndex100 touched intraday high of 4,478.59 and intraday low of 4,413.53 points. Volume
Updated 23 Jan, 2020 06:17am
Provident funds can't be maintained in form of cash: SECP

Provident funds can't be maintained in form of cash: SECP

The Appellant Bench of the Securities and Exchange Commission of Pakistan (SECP) Wednesday conveyed to the trustees of provident funds of companies that the provident funds cannot be maintained in the form of cash and funds must be deposited in the specia
Published 23 Jan, 2020 12:00am
PM calls for UN action on Kashmir

PM calls for UN action on Kashmir

Prime Minister Imran Khan called on Wednesday for the United Nations to help mediate between India and Pakistan over the disputed territory of Kashmir.
Published 23 Jan, 2020 12:00am
Hafeez thanks ADB for supporting Pakistan

Hafeez thanks ADB for supporting Pakistan

Advisor to Prime Minister on Finance and Revenues, Dr. Abdul Hafeez said Wednesday that Pakistan looked forward to further strengthening partnership with Asian Development Bank (ADB) under the leadership of its new President, Masatsugu Asakawa. Talking t
Published 23 Jan, 2020 12:00am
Definite growth targets set: PM

Definite growth targets set: PM

Prime Minister Imran Khan on Wednesday said his government had set definite targets for growth of economy through foreign investment and ease-of-doing business as the country gained strength in financial domain.
Published 23 Jan, 2020 12:00am
Buzdar to meet 20 disgruntled PTI MPAs today

Buzdar to meet 20 disgruntled PTI MPAs today

In a bid to avoid a no-confidence motion against himself, Punjab Chief Minister Usman Buzdar has decided to meet 20 disgruntled MPAs of his party today (Thursday). The sources privy to the development told Business Recorder that as many as 20 MPAs
Published 23 Jan, 2020 12:00am
Air Marshal Arshad hands over CEO function to PIACL BoDs

Air Marshal Arshad hands over CEO function to PIACL BoDs

In line with SECP Rules, Board of Directors of PIACL through a competitive process recommended the appointment of Air Marshal Arshad Malik as CEO PIACL, which was formally approved by the Federal Cabinet.
Published 23 Jan, 2020 12:00am
FATF's Working Group expresses satisfaction over report

FATF's Working Group expresses satisfaction over report

The Financial Action Task Force's (FATF) Working Group has expressed satisfaction while reviewing Pakistan's performance report from October 2019 till January 2020 in compliance with the global illicit financing watchdog's action plan carrying 27 recommen
Published 23 Jan, 2020 12:00am
Surcharges, taxes: Textile sector urges Power Division to withdraw SRO

Surcharges, taxes: Textile sector urges Power Division to withdraw SRO

The country's textile sector has urged the Power Division to withdraw its SRO regarding imposition of surcharges, taxes and positive fuel adjustment on export-oriented sectors as it will have a disastrous impact on exports and the balance of payments as i
Published 23 Jan, 2020 12:00am
Trump to visit Pakistan soon: Qureshi

Trump to visit Pakistan soon: Qureshi

Foreign Minister Makhdoom Shah Mahmood Qureshi Wednesday said US President Donald Trump had assured that he would soon visit Pakistan. In a statement received here over the visit of Prime Minister Imran Khan to Davos to attend the World Economic Forum, th
Published 23 Jan, 2020 12:00am
Who is actually behind wheat flour crisis?

Who is actually behind wheat flour crisis?

The current crises of wheat and sugar are said to be the outcome of decisions taken by one of the top men in the Food Department Punjab, an ex-PCS official who directly deals with flour mills and sugar mills across Punjab, well-informed sources told B
Published 23 Jan, 2020 12:00am
Trump to add a 'couple of countries' to US travel ban

Trump to add a 'couple of countries' to US travel ban

US President Donald Trump said Wednesday his administration was preparing to add a "couple of countries" to the controversial list of states whose citizens are subject to travel bans or severe restrictions on entry to the United States. "We are adding a c
Published 23 Jan, 2020 12:00am
Millers say there's no sugar crisis

Millers say there's no sugar crisis

Sugar millers have brushed aside the reports of a brewing sugar crisis in the country, saying that country will be producing some 5.6 million tons of sweetener this year against its total annual consumption of 5.2 million tons.
Published 23 Jan, 2020 12:00am
Absence of taxation culture?
Letters

Absence of taxation culture?

That the incumbent Federal Board of Revenue (FBR) chairman is vastly different from his predecessors is a fact. Describing the existing taxation system as 'extortionist', the FBR head has in fact made a bold admission about the taxation arm of the governm
Published 23 Jan, 2020 12:00am
BlackRock coal divestment welcomed, scrutinised by insiders
Articles

BlackRock coal divestment welcomed, scrutinised by insiders

Investment behemoth BlackRock's decision to divest holdings in companies reliant on coal may encourage more climate-friendly finance but raises questions over how investors prioritise the future of the planet, analysts and industry insiders said Wednesday
Published 23 Jan, 2020 12:00am
Criticality of competitive electricity pricing
Articles

Criticality of competitive electricity pricing

The export-oriented sectors of Pakistan have shown marked resilience over the past decades, having weathered the storms of economic uncertainty, severe energy shortages, overvalued currency and delayed refunds. Aided by policy initiatives of the governmen
Published 23 Jan, 2020 12:00am
What's with the Police anyways?
Articles

What's with the Police anyways?

Between a Khawaja and an Imam Sindh Government has lost more than face. Government's writ stands challenged. It brings into question the provincial government's right to control, direct, and hold accountable its civil servants, including those placed at i
Published 23 Jan, 2020 12:00am
Fighting polio

Fighting polio

Polio eradication continues to remain a big challenge. The first case of this year has already emerged in Lakki Marwat district of Khyber Pakhtunkhwa. Last year, it may be recalled, polio had returned with a vengeance affecting as many as 136 children ag
Updated 23 Jan, 2020 06:14am
Screening of NSS deposits

Screening of NSS deposits

Pakistan seems to be doing everything possible to exit the grey list of Financial Action Task Force (FATF) and join the group of countries enjoying the benefits of white list. The latest initiative in this connection was the screening of Rs 4.038 trillion
Updated 23 Jan, 2020 06:15am
MYC team visits Iran

MYC team visits Iran

A nine-member delegation of Milli Yakjehti Council (MYC) led by secretary general Liaqat Baloch Wednesday completed its visit to Iran.
Published 23 Jan, 2020 12:00am
PM desires Siemens to introduce skills training programmes

PM desires Siemens to introduce skills training programmes

Prime Minister Imran Khan, during a meeting with Chief Executive Officer of Siemens Joe Kaeser, Wednesday expressed his desire that the company could introduce high technology skills training programmes for Pakistani engineers under the "Hunarmand Jawan"
Published 23 Jan, 2020 12:00am
Buzdar vows to stabilise sugar price

Buzdar vows to stabilise sugar price

Chief Minister Punjab Sardar Usman Buzdar reiterated that unjustified increase in the price of sugar will not be tolerated and the Punjab the government will take necessary steps to stabilize the sugar price. The CM said that provision of relief to the c
Published 23 Jan, 2020 12:00am
India treading a dangerous path: Imran

India treading a dangerous path: Imran

Prime Minister Imran Khan Wednesday once again sharing his concerns said under the influence of German Nazis' mindset, the Bharatiya Janata Party (BJP) government in India was relentlessly implementing the Rashtriya Swayamsevak Sangh's (RSS) supremacist i
Published 23 Jan, 2020 12:00am
Maple Leaf Cement wins CSR Award

Maple Leaf Cement wins CSR Award

Maple Leaf Cement has been awarded with CSR Award 2020 in a summit organized by the National Forum for Environment and Health, said a company announcement here on Wednesday. Maple Leaf Cement believes and implements contribution to Environment and Communi
Published 23 Jan, 2020 12:00am
Sindh PA pays tribute to late Ali Mardan Shah

Sindh PA pays tribute to late Ali Mardan Shah

The Sindh Assembly on Wednesday mourned the death of its senior lawmaker - PPP's Ali Mardan Shah, as legislators paid him tribute for his services.
Published 23 Jan, 2020 12:00am
Secretary livestock visits UVAS Pattoki campus

Secretary livestock visits UVAS Pattoki campus

The Secretary Livestock& Dairy Development Department Punjab Nadeem Irshad Kayani has urged to strengthen Livestock Department farms as a demonstration farms where researchers and post graduate students can get maximum knowledge and skills.
Published 23 Jan, 2020 12:00am
Depleting gas reserves signal shifting to high-priced LNG
Energy

Depleting gas reserves signal shifting to high-priced LNG

Declining indigenous gas reserves have heightened concerns of gas unavailability on the back of growing demand as users continue to prioritize gas as the primary fuel option owing to its eco-friendly nature as well as lower prices relative to alternate fu
Updated 23 Jan, 2020 06:18am
CSR Summit & Awards 2020 ceremony on January 30

CSR Summit & Awards 2020 ceremony on January 30

Founder & CEO of team of Professionals Network Mehmood Tareen along with CSR activist and conference coordinator Ateeq Ur Rehman has said that Indus Hospital (Anti Rabies Department), AMTF (helping blood disorders), JDC will be awarded for their outstandi
Published 23 Jan, 2020 12:00am
NAB expedites probe against Khursheed Shah

NAB expedites probe against Khursheed Shah

National Accountability Bureau (NAB) has accelerated its investigation in the assets beyond means case against PPP senior leader Syed Khursheed Shah, asking Federal Board of Revenue (FBR) to submit financial details of seven others accused by January 27,
Published 23 Jan, 2020 12:00am
Hundreds of huts reduced to ashes in Karachi fire

Hundreds of huts reduced to ashes in Karachi fire

Dozens of tent homes burned to ashes as a huge fire engulfed shanties near the Teen Hatti here in late Tuesday night, depriving the already vulnerable residents of the slum of their valuables in this harsh weather.
Published 23 Jan, 2020 12:00am
Government releases full amount for Greenline Bus project

Government releases full amount for Greenline Bus project

Apparently in order to fulfill its commitment to inaugurate the Greenline Bus Project in early next month, Federal Government released the full allocated amount for the project for the current financial year recently.
Published 23 Jan, 2020 12:00am
64th Children's Literature Festival concludes

64th Children's Literature Festival concludes

After the two exhilarating days of literature celebrations of Lahore, the 64th Children's Literature Festival (CLF) wrapped up at Children's Library Complex on Wednesday with children's participation and agency being the most vibrant aspects of the fun-fi
Published 23 Jan, 2020 12:00am
FFC hails ECC's decision to reduce GIDC

FFC hails ECC's decision to reduce GIDC

CE&MD Fauji Fertilizer Company, Lieutenant General Tariq Khan, HI(M) (retd), has hailed recent decision by Economic Coordination Committee (ECC) to reduce GIDC from Rs 405 to Rs 5 per bag to provide relief to farmers and bring further stability in agricul
Published 23 Jan, 2020 12:00am
FM, Dominic Raab discuss regional, bilateral issues

FM, Dominic Raab discuss regional, bilateral issues

Foreign Minister Makhdoom Shah Mahmood Qureshi on Wednesday held a telephonic conversation with British Foreign Secretary Dominic Raab and had a wide range of discussion on regional and bilateral issues of mutual interest.
Published 23 Jan, 2020 12:00am
SCCI, APC sign MoU to strengthen bilateral trade ties

SCCI, APC sign MoU to strengthen bilateral trade ties

A memorandum of understanding (MoU) was signed between the Sarhad Chamber of Commerce and Industry (SCCI) and Australia Pakistan Chamber (APC), meant to strengthen bilateral trade relations, exchange of business delegations and taking full benefits from e
Published 23 Jan, 2020 12:00am
'Makers Fest 2020' held at CECOS University

'Makers Fest 2020' held at CECOS University

CECOS University of IT & Emerging Sciences has conducted here on Wednesday 'Makers Fest 2020' to provide skills for the students of Computer, Electrical & Mechanical departments to meet with future challenges.
Published 23 Jan, 2020 12:00am
Amreli Steels opens new sales office in Islamabad

Amreli Steels opens new sales office in Islamabad

With the mission to strengthen the national economy, Pakistan's leading steel rebar brand, Amreli Steels continues to expand its footprint. Known for being a market leader, the steel rebar manufacturer opened a new Sales Office and Warehouse in Islamabad.
Published 23 Jan, 2020 12:00am
Ignite's role in equipping Pakistan with digital skills lauded

Ignite's role in equipping Pakistan with digital skills lauded

A media briefing session was organized by Ignite to showcase the achievements of its flagship program DigiSkills; an online portal to give one million trainings in the future of work using technology. The session was graced by Shoaib Ahmad Siddiqui Federa
Published 23 Jan, 2020 12:00am
Imtiaz Super Market to open store in Bahria Town Karachi

Imtiaz Super Market to open store in Bahria Town Karachi

Bahria Town Karachi and Imtiaz Supermarket has signed contract to open its flagship and one of a kind designer store in 2020, with area exceeding over 100,000 sq ft. Layout and interior has been designed by international consultants who have worked on the
Published 23 Jan, 2020 12:00am
Kashmir Solidarity Day on February 5

Kashmir Solidarity Day on February 5

The Punjab government in collaboration with the federal government is marking the Kashmir Solidarity Day on February 5 to express solidarity with the Kashmiris and against Indian atrocities.
Published 23 Jan, 2020 12:00am
TDAP holds awareness seminar on CPFTA-II

TDAP holds awareness seminar on CPFTA-II

The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) organized an awareness seminar on the second phase of China Pakistan Free Trade Agreement, on 21st of January, 2020 at a local hotel in Lahore.
Published 23 Jan, 2020 12:00am
Minister vows to improve quality of college education

Minister vows to improve quality of college education

Education is our top priority and the government is committed to improve the quality of college education at par with global standards. For this, we have introduced qualitative reforms in this sector.
Published 23 Jan, 2020 12:00am
UBG extends friendly hand towards FPCCI president

UBG extends friendly hand towards FPCCI president

United Business Group (UBG), setting aside all its differences in the larger national interest, extended full cooperation and support to newly elected President Mian Anjum Nisar to run affairs of Federation of Pakistan Chambers of Commerce & Industry (FPC
Published 23 Jan, 2020 12:00am
Experts for filling business vacuum in UK after Brexit

Experts for filling business vacuum in UK after Brexit

United Kingdom (UK) will focus on Common Wealth countries after Brexit and in this connection Pakistan must preempt and prepare itself to fill the expected business vacuum in this country, said Dr. Arif Anis of UK World Congress of Overseas Pakistani.
Published 23 Jan, 2020 12:00am
Tetra Pak and Descon sign partnership agreement

Tetra Pak and Descon sign partnership agreement

Tetra Pak Pakistan Limited and Descon Oxychem Limited have signed an alliance agreement to jointly market ASEPTOX 35 (Hydrogen Peroxide based product) which has been developed by Descon as per custom requirement of Tetra Pak.
Published 23 Jan, 2020 12:00am
NA body defers two bills, seeks clarification from ministry

NA body defers two bills, seeks clarification from ministry

National Assembly's Standing Committee on Maritime Affairs on Wednesday deferred two bills including "the Port Qasim Authority (Amendment) Bill, 2019" and "the Gwadar Port Authority (Amendment) Bill, 2019," and sought clarification from the Ministry of La
Published 23 Jan, 2020 12:00am
Bid to smuggle gold foiled

Bid to smuggle gold foiled

Customs officials foiled the effort of smuggling gold at the Lahore airport. According to details, Customs staff recovered gold biscuits of 100 gram each while checking the luggage of two women passengers. Both of them were ready to fly for Istanbul. Cust
Published 23 Jan, 2020 12:00am
Eco Pack Limited
Brief Recordings

Eco Pack Limited

Eco Pack Limited (PSX: ECOP) was established as a private limited company in 1991. It was converted into a public limited company a year after and two years later it was listed on the stock exchange.
Updated 23 Jan, 2020 05:54am
French spy suspected of selling data on darknet

French spy suspected of selling data on darknet

An anti-terrorism agent in France's domestic intelligence service could soon face trial on charges of selling confidential data and fake IDs in the hidden corners of the internet, prosecutors say.
Updated 23 Jan, 2020 07:00am
French, Dutch smash huge migrant smuggling ring to UK

French, Dutch smash huge migrant smuggling ring to UK

French and Dutch police arrested 23 people on suspicion of smuggling 10,000 Kurdish migrants to Britain in refrigerated lorries and rubber boats, Europe's judicial agency said Wednesday.
Updated 23 Jan, 2020 07:52am
Turkey says Haftar 'only problem' in way of Libya peace

Turkey says Haftar 'only problem' in way of Libya peace

Turkey's top diplomat said Wednesday Libyan eastern commander Khalifa Haftar is the only obstacle to a peace deal for the North African country, defending Ankara's cooperation with Moscow to end conflicts in Libya and Syria.
Updated 23 Jan, 2020 07:43am
Europe boosts China flight checks as killer virus spreads

Europe boosts China flight checks as killer virus spreads

European airports from London to Moscow stepped up checks Wednesday on flights from the Chinese city at the heart of a new SARS-like virus that has killed 17 people and spread to the United States. The coronavirus has sparked alarm because of its similari
Published 23 Jan, 2020 12:00am
First woman enters Japan's submarine academy

First woman enters Japan's submarine academy

The first female student was admitted to Japan's national naval submarine academy Wednesday after the end of a ban on women on the country's submarines.
Published 23 Jan, 2020 12:00am
Trump agrees US-Iraq 'security partnership'

Trump agrees US-Iraq 'security partnership'

President Donald Trump and his Iraqi counterpart Barham Saleh agreed on Wednesday on the need for a continued US military role in the country, the White House said.
Published 23 Jan, 2020 12:00am
One dead as snowmobiles fall through ice in Canada

One dead as snowmobiles fall through ice in Canada

A Canadian guide died and five French tourists were missing after their snowmobiles plunged through ice into freezing water in northern Quebec, police said Wednesday.
Published 23 Jan, 2020 12:00am
Libya airport suspends flights after coming under fire

Libya airport suspends flights after coming under fire

Rocket fire forced the suspension of all flights into and out of Tripoli's sole functioning airport on Wednesday, only nine days after it reopened following a truce, Libya's embattled UN-recognised government said.
Published 23 Jan, 2020 12:00am
UK parliament ratifies Brexit divorce law

UK parliament ratifies Brexit divorce law

After years of acrimonious debate, British lawmakers on Wednesday finally approved the terms of their country's historic departure from the European Union - due in just nine days time. MPs in the lower House of Commons had already backed the EU Withdrawal
Published 23 Jan, 2020 12:00am
Brazil harvests just 1.8 percent of soyabean area
Commodities

Brazil harvests just 1.8 percent of soyabean area

Brazil's soyabean farmers have harvested only 1.8% of the soyabean area so far this season, agribusiness consultancy AgRural said on Monday, reducing the ideal window for planting of the country's second corn that is sowed after the oilseed is collected.
Published 23 Jan, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,371. The traded value of Metals, Energy and COTS/FX was recorded at PKR 4.472 billion and the number of lots traded was 9,535.
Published 23 Jan, 2020 12:00am
Asia's naphtha falls to 1-1/2-week low
Energy

Asia's naphtha falls to 1-1/2-week low

Asia's naphtha crack edged down to a 1-1/2-week low of $85.63 a tonne on Tuesday, as high volumes of cargoes expected to arrive this month from the West are likely to offset some of the supply loss from refinery maintenance in the Middle East.
Published 23 Jan, 2020 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 178,475 tonnes of cargo comprising 93,623 tonnes of import cargo and 84,852 tonnes of export cargo including 9,418 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 23 Jan, 2020 12:00am
Improved trading activity seen on cotton market
Cotton & Textile

Improved trading activity seen on cotton market

Short supply of lint cotton pushed the rates sharply higher on the cotton market on Wednesday in the process of improved trading activity, dealers said.
Published 23 Jan, 2020 12:00am
China's steel futures slip on cloudy demand
Commodities

China's steel futures slip on cloudy demand

Steel futures in China slipped on Tuesday, after four straight sessions of gains, as cloudy demand prospects and concerns over the potential economic fallout from an outbreak of a new flu-like virus in the country weighed on prices.
Published 23 Jan, 2020 12:00am
Yuan, Aussie struggle in Asian trade
Money & Banking

Yuan, Aussie struggle in Asian trade

The yuan dipped and the Australian dollar hit a six-week low on Wednesday as investors feared the outbreak of a new coronavirus in China could create more headaches for the Chinese economy, which is already slowing because of the US-China trade war.
Published 23 Jan, 2020 12:00am
Swiss franc falls in European trade
Money & Banking

Swiss franc falls in European trade

The Swiss franc fell on Wednesday on signs the central bank may be intervening to stop it rising further, outweighing the impact of concerns about the spread of a new coronavirus that have driven investors into safe-haven assets this week.
Published 23 Jan, 2020 12:00am
Early trade in New York: Safe-haven currencies slip
Money & Banking

Early trade in New York: Safe-haven currencies slip

The US dollar edged lower on Wednesday and the Japanese yen and the Swiss franc slipped amid muted demand for safe haven units as updates from China about the spread of a new flu-like coronavirus raised hopes the outbreak would be contained.
Published 23 Jan, 2020 12:00am
Asian forex: Most units tepid
Money & Banking

Asian forex: Most units tepid

Most Asian units were trading subdued on Wednesday as concerns about a coronavirus outbreak in China kept risk appetite on the backfoot, although the South Korean won found support amid upbeat GDP data on the trade-reliant economy.
Published 23 Jan, 2020 12:00am
South African rand rises
Money & Banking

South African rand rises

South Africa's rand firmed more than 1% on Wednesday, helped by a recovery in demand for riskier assets, while Dutch-based technology group Prosus led stocks lower.
Published 23 Jan, 2020 12:00am
Sterling gains further
Money & Banking

Sterling gains further

Britain's pound rose against the dollar and the euro on Wednesday as investors debated whether or not the Bank of England would cut interest rates when it meets next week.
Published 23 Jan, 2020 12:00am
Turkish bank probe casts wide net over trading
Money & Banking

Turkish bank probe casts wide net over trading

Turkish competition officials made surprise visits to several private, state and foreign banks late on Friday to analyse computers as they opened a wide-ranging probe of trading in the financial sector, according to three bankers.
Published 23 Jan, 2020 12:00am
ZTBL profit rates
Money & Banking

ZTBL profit rates

Zarai Taraqiati Bank Limited (ZTBL) has declared the following rates of return of different types of deposits for the period from July 01st, 2019 to December 31st, 2019 and indicative rates of return from January 01, 2020 to June 30, 2020:
Published 23 Jan, 2020 12:00am
Mathews hits double hundred
Cricket

Mathews hits double hundred

Angelo Mathews struck his highest Test score with an unbeaten double century on Wednesday as Sri Lanka left Zimbabwe battling to save the series opener going into the final day at Harare.
Published 23 Jan, 2020 12:00am
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