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Print - 2020-01-30
Nepra not happy with performance of Qesco

Nepra not happy with performance of Qesco

National Electric Power Regulatory Authority (Nepra) on Wednesday expressed disappointment at the pathetic performance of Quetta Electric Supply Company (Qesco), suggesting that the company should consider off-grid solutions or be wound up for consistentl
Published 30 Jan, 2020 12:00am
US accuses FBR of using 'pirated' version of its software

US accuses FBR of using 'pirated' version of its software

The US has accused Pakistan's Federal of Board of Revenue (FBR) of using "pirated" version of its software, urging Pakistan to refrain from engaging in such practice, well-informed sources told Business Recorder.
Published 30 Jan, 2020 12:00am
Six SOEs to be privatized to achieve Rs 150 billion target

Six SOEs to be privatized to achieve Rs 150 billion target

The Privatization Division will privatize six state-owned entities (SOEs) including two Re-Gasified Liquefied Natural Gas (RLNG) power plants, while revival of Pakistan Steel Mills (PSM) will be completed by the end of FY20, to achieve the budgeted target
Published 30 Jan, 2020 12:00am
PSX closes in deep red: BRIndex100 sheds more weight
Stocks

PSX closes in deep red: BRIndex100 sheds more weight

After moving both ways, Pakistan Stock Exchange Wednesday closed in deep red due to heavy selling by local and foreign investors. BRIndex100 lost 47.41 points or 1.07 percent to close at 4,401.59 points. BRIndex100 touched intraday high of 4,464.33 and in
Updated 30 Jan, 2020 07:37am
Euro MPs set seal on Brexit

Euro MPs set seal on Brexit

Britain's departure from the European Union was set in law Wednesday, amid emotional scenes, as the bloc's parliament voted to ratify the divorce papers. After half a century of sometimes awkward membership and three years of tense withdrawal talks, the U
Published 30 Jan, 2020 12:00am
Listed companies: SECP revises procedure for shares buy-back

Listed companies: SECP revises procedure for shares buy-back

The Securities and Exchange Commission of Pakistan (SECP) has revised procedure for repurchase of shares of companies listed on the securities exchange. The SECP has issued SRO 54 (I)/2020 Wednesday to amend Listed Companies (Buy-Back of Shares) Regulatio
Published 30 Jan, 2020 12:00am
BISP scam: Cases of over 2,000 government officers sent to FIA

BISP scam: Cases of over 2,000 government officers sent to FIA

The government in its first crackdown on about 140,000 of its employees, who fraudulently secured financial assistance from the Benazir Income Support Programme (BISP), has forwarded the cases of over 2,000 government officers to the Federal Investigation
Published 30 Jan, 2020 12:00am
Flights between Beijing-Karachi suspended

Flights between Beijing-Karachi suspended

China airlines on Wednesday announced that it is partially suspending its flights between Beijing and Karachi in the light of Wuhan virus. All flights between Karachi, Beijing and Beijing to Karachi will remain suspended till February 2 due to deadly coro
Published 30 Jan, 2020 12:00am
Four Pakistani students diagnosed with coronavirus: Zafar

Four Pakistani students diagnosed with coronavirus: Zafar

The government of Pakistan Wednesday confirmed that four Pakistani students in China have been positively diagnosed with coronavirus. Addressing a press conference here, Special Assistant to Prime Minister (SAPM) on Health Dr Zafar Mirza stated that so fa
Published 30 Jan, 2020 12:00am
More airlines halt China flights as virus toll hits 132

More airlines halt China flights as virus toll hits 132

Foreign airlines began suspending flights to and from China on Wednesday as global fears mounted over a coronavirus epidemic that has killed 132 people and infected around 6,000. The flight announcements came hours after some countries began airlifts of t
Published 30 Jan, 2020 12:00am
Proposal on gas prices deferred again

Proposal on gas prices deferred again

A meeting of the Economic Coordination Committee (ECC) of the Cabinet has once again deferred the proposal of Ministry of Petroleum for increase in gas prices, apparently owing to further increase in inflation as well as gas and electricity charges due to
Published 30 Jan, 2020 12:00am
Pakistan reiterates support to two-state solution

Pakistan reiterates support to two-state solution

Pakistan on Wednesday reiterated its support to the two-state solution to Palestinian issue with the establishment of a viable, independent and contiguous State of Palestine with Al-Quds Al-Sharif as its capital.
Published 30 Jan, 2020 12:00am
Arab states in perilous balancing act

Arab states in perilous balancing act

Arab states have cautiously welcomed the US peace plan for the Middle East, but the balancing act aimed at appeasing their powerful ally risks provoking domestic public opinion and Palestinian ire. The plan was unveiled in Washington on Tuesday by Preside
Published 30 Jan, 2020 12:00am
Federal Reserve keeping watch on global developments

Federal Reserve keeping watch on global developments

The US central bank held its policy interest rate steady on Wednesday, but again said it is monitoring "global developments" to decide its next move. The Fed's policy-setting Federal Open Market Committee left the benchmark interest rate in the target ran
Published 30 Jan, 2020 12:00am
Trump attacks Bolton as impeachment trial heats up

Trump attacks Bolton as impeachment trial heats up

Donald Trump on Wednesday blasted his former national security advisor John Bolton as he emerged as a potential 11th hour witness in president's impeachment trial, complicating the White House's bid for a speedy acquittal.
Published 30 Jan, 2020 12:00am
Yemen rebels claim attacks on Saudi oil facilities

Yemen rebels claim attacks on Saudi oil facilities

Yemen's Iran-backed Huthi rebels said Wednesday they had launched missile and drone attacks on Saudi targets, including oil facilities belonging to the energy giant Aramco. Huthi forces attacked "Aramco (facilities) in Jizan, Abha and Jizan airports, Kham
Published 30 Jan, 2020 12:00am
Sacked ministers meet PM, tender unconditional apology

Sacked ministers meet PM, tender unconditional apology

Two sacked provincial ministers Atif Khan and Shahram Tarakai on Wednesday offered unconditional apology to Prime Minister Imran Khan for allegedly plotting to bring a no-confidence motion against Chief Minister Khyber Pakhtunkhwa Mehmood Khan. The source
Published 30 Jan, 2020 12:00am
Pashtun leader released

Pashtun leader released

Pakistani authorities released a Pashtun parliamentarian and civil rights leader hours after detaining him during a peaceful demonstration, a police official said Wednesday, but more than 20 other demonstrators held with him remained in custody.
Published 30 Jan, 2020 12:00am
FO rejects Modi's war rhetoric

FO rejects Modi's war rhetoric

Pakistan Wednesday warned India against any misadventure while rejecting Prime Minister Narendra Modi's 'belligerent rhetoric' in which he claimed that "India will not take more than 7-10 days to make Pakistan bite the dust."
Published 30 Jan, 2020 12:00am
Modi, too, loses his marbles

Modi, too, loses his marbles

India is capable of making Pakistan "bite the dust" in less than 10 days in any new war with its arch-rival, according to Prime Minister Narendra Modi. Modi is under pressure after weeks of protests against a new citizenship law, a slowing economy and the
Published 30 Jan, 2020 12:00am
Taliban attack kills 10 policemen in Afghanistan

Taliban attack kills 10 policemen in Afghanistan

At least 10 policemen were killed when Taliban fighters attacked an outpost in northern Afghanistan, officials said Wednesday, as fighting raged across the country despite ongoing talks between Washington and the militant group.
Published 30 Jan, 2020 12:00am
Torkham briefly closed following rocket attack

Torkham briefly closed following rocket attack

Pakistan on Wednesday briefly closed Torkham crossing-point with Afghanistan following two rockets were fired by terrorists from across the border causing no casualty but minor damages to a property.
Published 30 Jan, 2020 12:00am
Auction for MTBs: Government mops up Rs 591 billion

Auction for MTBs: Government mops up Rs 591 billion

The federal government Wednesday raised some Rs 591 billion through the auction for short-term government papers. The auction for the sale of 3-month, 6-month and 12-month government of Pakistan Market Treasury Bills (MTBs) was conducted by the State Bank
Published 30 Jan, 2020 12:00am
Coronavirus crisis
Letters

Coronavirus crisis

This virus crisis has certainly added pressure on slowing Chinese economy. The Wuhan coronavirus is rapidly spreading across Asia and rest of the world. China's President Xi Jinping has rightly described the outbreak of coronavirus as 'demon'. According t
Updated 04 Mar, 2020 10:36am
Palestinians left with few options against Trump plan
Articles

Palestinians left with few options against Trump plan

Palestinians have rejected US President Donald Trump's peace proposals but may struggle to push back if Israel launches the plan on the ground by annexing settlements and keys parts of the West Bank. Trump's initiative grants Israel full control of Jerusa
Published 30 Jan, 2020 12:00am
Poverty, unemployment, some other grim realities
Articles

Poverty, unemployment, some other grim realities

With the advent of Naya Pakistan came a promise to create 10 million new jobs within a 5-year term. This was not an unreasonable target. According to a 2018 Human Development Report for Pakistan by the United Nations Development Program (UNDP), 1.5 millio
Published 30 Jan, 2020 12:00am
Economy: the speech we won't hear
Articles

Economy: the speech we won't hear

Independent Economists tell us situation is dire. The government tells us we are well on our way. Economists do not see an early possibility of growth if current policy direction persists. The government insists stabilization now secured we are ready to t
Published 30 Jan, 2020 12:00am
Prudent approach to inflation challenge

Prudent approach to inflation challenge

Monetary Policy Committee (MPC) of the State Bank, in its meeting held on 28th January, 2020, opted once again to leave the policy rate unchanged at 13.25 percent per annum for the next two months. Justifying the decision, the MPC was of the view that rec
Updated 30 Jan, 2020 05:16am
Researchers urged to focus on climate change

Researchers urged to focus on climate change

Sindh Agriculture University, Tandojam signed the tripartite agreement signed between Sindh Agriculture University, Tandojam, Pakistan Micro Finance Investment Company and SAFCO Support Foundation at Sindh Agriculture University, Tandojam.
Published 30 Jan, 2020 12:00am
KU awards eight PhD, 22 MPhil degrees

KU awards eight PhD, 22 MPhil degrees

The Advanced Studies and Research Board (ASRB), University of Karachi, has awarded eight PhD, 22 MPhil, and one MS Course Work (30 Credit Hour) degrees in various disciplines. The KU Registrar Professor Dr Saleem Shahzad said that the ASRB in its recently
Published 30 Jan, 2020 12:00am
International moot on LNG tomorrow
Energy

International moot on LNG tomorrow

Special Assistant to Prime Minister on Petroleum Nadeem Babar will inaugurate a day-long conference on Liquefied Natural Gas (LNG) at a local hotel in Islamabad on January 31 with special focus on countrywide gas shortfall amid severe spell of cold weathe
Updated 30 Jan, 2020 05:44am
Parliamentary body for more rigorous punishment to child abusers

Parliamentary body for more rigorous punishment to child abusers

A meeting of Khyber Pakhtunkhwa Assembly's Sub Parliamentary Committee chaired by Sobia Shahid Wednesday discussed measures for awarding more rigorous punishment to child abusers. The meeting among others was attended by MPAs including Aasia Khattak and H
Published 30 Jan, 2020 12:00am
Plea to disqualify Vawda: IHC issues notices to ECP, others

Plea to disqualify Vawda: IHC issues notices to ECP, others

The Islamabad High Court Wednesday issued notices to the Election Commission of Pakistan (ECP) and others on a petition seeking disqualification of Federal Minister for Water Resources Faisal Vawda for allegedly concealing his US nationality.
Published 30 Jan, 2020 12:00am
Two mortar shells fired from Afghanistan into Pakistan territory

Two mortar shells fired from Afghanistan into Pakistan territory

Two mortar shells fired from Afghanistan landed in deserted area of Torkham bordering area of Pakistan, however no causality was reported. The security forces official while confirming the incident said that at 07:15 am on Wednesday morning, two stray mor
Published 30 Jan, 2020 12:00am
PTI, MQM-P's crucial meeting planned next week

PTI, MQM-P's crucial meeting planned next week

In the backdrop of existing political turmoil, the Pakistan Tehreek-e-Insaf's (PTI) negotiating team will hold a crucial meeting with Muttahida Qaumi Movement-Pakistan (MQM-P's) delegation in Islamabad next week for a final round of talks amid mounting pr
Published 30 Jan, 2020 12:00am
FBR's Helpline to provide best service to public
Taxes

FBR's Helpline to provide best service to public

FBR's Helpline is a free, fast & reliable service that is committed to provide the very best service to the public. FBR's Helpline not only educates the public but also provides them a forum through which the public can put forward their queries and seek
Updated 30 Jan, 2020 05:53am
Orientation ceremony for fresh students held at SU

Orientation ceremony for fresh students held at SU

"Those who possess and exude self-confidence will end up winners. It is your great fortune to have been able to seek admission in higher education institution; as hardly ten percent youth in Pakistan become able to do so in their respective lifetimes. Lea
Published 30 Jan, 2020 12:00am
Centre-Sindh row over IGP's replacement continues unabated

Centre-Sindh row over IGP's replacement continues unabated

Sindh Minister for Information and Labor Saeed Ghani has said that in accordance with the Police Law it was not mandatory for the provincial government to consult with Governor Sindh before requesting the federal government for the replacement of Inspecto
Published 30 Jan, 2020 12:00am
British Deputy HC visits MUET

British Deputy HC visits MUET

The British Deputy High Commissioner (BDHC) Mike Nithavrianakis has visited Hyderabad, the second largest city of Sindh on Wednesday. The Deputy High Commissioner visited the Mehran University of Engineering and Technology (MUET) to look at potential part
Published 30 Jan, 2020 12:00am
Murad asks LG institutions to gear up for paying power bills

Murad asks LG institutions to gear up for paying power bills

Sindh chief Minister Syed Murad Ali Shah has said the provincial government was paying electricity bills of the local bodies from last many year but our local bodies would have to be self-sufficient by rationalizing its non-development expenditures and in
Published 30 Jan, 2020 12:00am
Clarification
Business & Economy

Clarification

Pakistan Internal Bulk Terminal Limited (PIBT) would like to clarify that "we are not a project of CPEC as mentioned in a news item carried by Business Recorder on January 24th. "Please note that PIBT has been set up as the Country's first terminal
Published 30 Jan, 2020 12:00am
Female polio worker killed in Swabi

Female polio worker killed in Swabi

A lady polio worker was killed while another injured in firing by unknown motorcyclists in Parmolai area of district Swabi on Wednesday afternoon. The local police informed that female polio worker identified as Shakila and Ghuncha were returning home fro
Published 30 Jan, 2020 12:00am
Gold falls by Rs 200 per tola

Gold falls by Rs 200 per tola

Gold on Wednesday reduced by Rs200 per tola to Rs91200 on the local market, traders said. The precious metal was selling for Rs78190 per 10 grams, down by Rs171 and US$1571 an ounce, down by US$7. Silver was traded for Rs1000 per tola, Rs857.33 per 10 gra
Published 30 Jan, 2020 12:00am
UK government keen to work with climate change ministry: envoy

UK government keen to work with climate change ministry: envoy

The British High Commissioner to Pakistan, Dr Christian Turner, on Wednesday called on Prime Minister's Adviser on Climate Change Malik Amin Aslam and conveyed his government's interest to work with the climate change ministry on the present government's
Published 30 Jan, 2020 12:00am
PM to launch Kifaalat programme on Friday: Dr Sania

PM to launch Kifaalat programme on Friday: Dr Sania

Dr Sania Nishtar, Special Assistant to Prime Minister on Poverty Alleviation and Chairperson Benazir Income Support Programme (BISP), said on Wednesday that Kifaalat Programme is being launched from tomorrow (Friday) by Prime Minister Imran Khan with Rs 2
Published 30 Jan, 2020 12:00am
BASF to increase prices
Business & Economy

BASF to increase prices

With immediate effect, or as contract terms allow, BASF will increase prices for its Lupranate(r) MDI (Methylene Diphenyl Diisocyanate) basic products by $200 per metric ton in ASEAN and South Asia. Price adjustments are necessary due to higher raw materi
Published 30 Jan, 2020 12:00am
PM, governor discuss IGP's appointment issue over phone

PM, governor discuss IGP's appointment issue over phone

Prime Minister of Pakistan Imran Khan and Sindh Governor Imran Ismail on Wednesday held a telephonic conversion to discuss the appointment of new Inspector General of Police (IGP) Sindh, media reports said. It emerges after Sindh police chief Dr Kaleem Im
Published 30 Jan, 2020 12:00am
Axle load issue: IHC declares MoC's letter unlawful

Axle load issue: IHC declares MoC's letter unlawful

Islamabad High Court (IHC) has held that the letter dated 20.06.2019 issued by the Ministry of Communications, whereby the axle load campaign was delayed, was without lawful authority and is declared to be without any legal effect.
Published 30 Jan, 2020 12:00am
Foodpanda operations expanded to Sargodha, Gujrat
Business & Economy

Foodpanda operations expanded to Sargodha, Gujrat

Foodpnda, the on-demand international food delivery service, has expanded its operations in the cities of Sargodha and Gujrat by opening up the possibility of ordering a world of exciting food flavours from its distinctive pink colour application.
Published 30 Jan, 2020 12:00am
Efforts afoot to introduce single curriculum: Shafqat

Efforts afoot to introduce single curriculum: Shafqat

"The proposed developed projects of the Ministry of Federal Education and Professional Training under the Public Sector Development Programme (PSDP) will focus on introducing a single curriculum, increase in literacy rate and reduce number of out-of-schoo
Published 30 Jan, 2020 12:00am
Lahore biennale concludes

Lahore biennale concludes

Lahore Biennale concluded successfully in the city where as many as 88 artists from 40 different countries displayed their artwork at different locations in the city. The event proved a best source of contact between local and international artists.
Published 30 Jan, 2020 12:00am
Shahid Salim Khan assumes charge of OGDCL's MD/CEO
Energy

Shahid Salim Khan assumes charge of OGDCL's MD/CEO

After appointment of MD/CEO OGDCL for three years by the Cabinet, Shahid Salim Khan has assumed the charge as permanent MD/CEO of OGDCL, here in Islamabad. Shahid Salim Khan is a petroleum engineer by profession having MS in Petroleum Engineering from Uni
Updated 30 Jan, 2020 07:43am
Pakistan raised effective voice for rights of Kashmiris: Sarwar

Pakistan raised effective voice for rights of Kashmiris: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar Wednesday said that Pakistan has raised an effective voice for the rights of Kashmiris and Indian Muslims at all global forums due to which European Parliament is now also echoed with rights of Kashmiris and Indian
Published 30 Jan, 2020 12:00am
Bank AL Habib declares Rs 11.17 billion profit after tax
Money & Banking

Bank AL Habib declares Rs 11.17 billion profit after tax

The Board of Directors of Bank AL Habib Limited announced the financial results for the year ended December 31, 2019. The Bank reported profit after tax of Rs 11.17 billion for the year ended December 31, 2019 as compared to Rs 8.42 billion for the corres
Published 30 Jan, 2020 12:00am
'Solid' policies help restore investors' confidence: Buzdar

'Solid' policies help restore investors' confidence: Buzdar

Punjab Chief Minister Sardar Usman Buzdar on Wednesday said that Pakistan has been economically stabilized under the leadership of Prime Minister Imran Khan and investors' confidence has been restored due to the solid policies of the government.
Published 30 Jan, 2020 12:00am
UAF organises one-day expo on STEM

UAF organises one-day expo on STEM

The University of Agriculture Faisalabad(UAF) in collaboration with the Pakistan Scientific and Technological Information Center (PASTIC) held a one-day exhibition on +IBw-Science, technology, engineering, mathematics (STEM) and Information Technology+IB0
Published 30 Jan, 2020 12:00am
KP spending Rs 83 billion for uplift of merged districts: Mahmood

KP spending Rs 83 billion for uplift of merged districts: Mahmood

KP Chief Minister Mahmood Khan on Wednesday said that the government was pursuing multi-pronged strategy for achieving socio-economic uplift of tribal districts and spending hefty funds to the tune of Rs83 billion on its development during the current fis
Published 30 Jan, 2020 12:00am
Rs 100 million grant approved for e-governance programme
IT & Computers

Rs 100 million grant approved for e-governance programme

The Ministry of Information Technology and Telecommunication is unlikely to implement e-governance programme by June 2020, as project cost escalates from Rs1.4 billion to Rs1.8 billion due to depreciation of rupee as well as delay in procurement, it is le
Published 30 Jan, 2020 12:00am
Fauji Foods Limited
Brief Recordings

Fauji Foods Limited

Fauji Foods Limited (PSX: FFL) was formed in 2015 after acquiring Noon Pakistan Limited. The latter was established in 1966 as a public limited company. Fauji Foods Limited operates under the Fauji Group of Companies with the latter having several other c
Updated 30 Jan, 2020 04:53am
Kobe Bryant's helicopter not equipped with vital warning system

Kobe Bryant's helicopter not equipped with vital warning system

The helicopter that crashed into a Los Angeles hillside killing NBA legend Kobe Bryant and eight others, was not equipped with vital software that alerts pilots when aircraft are too close to the ground, officials said.
Published 30 Jan, 2020 12:00am
Russia blocks Swiss-based ProtonMail over wave of bomb threats

Russia blocks Swiss-based ProtonMail over wave of bomb threats

Russia has blocked a second encrypted email provider, Swiss-based ProtonMail, in efforts to halt a prolonged series of anonymous bomb threats, the security service said Wednesday. The FSB security service said Russia acted against Geneva-based ProtonMail
Published 30 Jan, 2020 12:00am
Putin pardons US-Israeli woman jailed in Russia

Putin pardons US-Israeli woman jailed in Russia

Russian President Vladimir Putin on Wednesday pardoned an Israeli-US woman sentenced by a Russian court to seven-and-a-half years in jail for drug trafficking, the Kremlin said. The pardon came as Israeli Prime Minister Benjamin Netanyahu was expected lat
Published 30 Jan, 2020 12:00am
Erdogan accuses Russia of 'not honouring' Syria agreements

Erdogan accuses Russia of 'not honouring' Syria agreements

Turkish President Recep Tayyip Erdogan accused Moscow of "not honouring" agreements made with Ankara for northwestern Syria where Russian and Syrian warplanes have increased their bombardment, in remarks published Wednesday.
Published 30 Jan, 2020 12:00am
Two defunct satellites speed toward possible collision

Two defunct satellites speed toward possible collision

Two decommissioned satellites sped towards each other Wednesday at a combined speed of almost 33,000 miles (53,000 kilometers) an hour, raising the risk of a collision that would send thousands of pieces of debris hurtling through space. The satellites -
Published 30 Jan, 2020 12:00am
Trump signs long-awaited North American trade deal
Global Business Economy

Trump signs long-awaited North American trade deal

President Donald Trump on Wednesday signed the new USMCA North American trade pact with Canada and Mexico into law, pronouncing a "glorious future" for US industry. The USMCA, crafted over years of negotiation between the three countries, replaces the 199
Published 30 Jan, 2020 12:00am
Syria army says retakes key northwest town

Syria army says retakes key northwest town

Syrian government forces recaptured a strategic northwestern highway town from jihadist and allied rebels Wednesday, in the latest blow to the country's last major opposition bastion. Maaret al-Numan, a former anti-government protest hotspot turned ghost
Published 30 Jan, 2020 12:00am
US charges Harvard chemistry head over China link

US charges Harvard chemistry head over China link

US prosecutors charged a leading academic at Harvard University Tuesday with hiding his alleged role in a Chinese government program that security officials say steals trade secrets. The arrest of Charles Lieber, the chairman of Harvard's chemistry and ch
Published 30 Jan, 2020 12:00am
Macron accuses Erdogan of failing 'to keep word' on Libya

Macron accuses Erdogan of failing 'to keep word' on Libya

French President Emmanuel Macron accused Turkish counterpart Recep Tayyip Erdogan Wednesday of failing "to keep his word" to end meddling in Libya, saying Ankara was sending ships with Syrian mercenaries to the conflict-torn country.
Published 30 Jan, 2020 12:00am
China accuses US, Britain of 'total hypocrisy' over Syria

China accuses US, Britain of 'total hypocrisy' over Syria

China accused the United States and Britain of "total hypocrisy" Wednesday during a feisty United Nations Security Council meeting about the humanitarian situation in Syria. Washington and London slammed Beijing and Moscow earlier this month for forcing t
Published 30 Jan, 2020 12:00am
CBOT soyabean futures fall for sixth day
Commodities

CBOT soyabean futures fall for sixth day

Chicago Board of Trade soyabean futures fell for the sixth day in a row on Tuesday, with traders citing weak export demand from China since the signing of the Phase 1 trade deal between Beijing and Washington. Concerns about the spread of a coronavirus in
Published 30 Jan, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,251. The traded value of Metals, Energy and COTS/FX was recorded at PKR 5.237 billion and the number of lots traded was 10,994.
Published 30 Jan, 2020 12:00am
European wheat futures up on fears of coronavirus
Commodities

European wheat futures up on fears of coronavirus

European wheat futures in Paris drifted up on Tuesday as markets assessed fears the coronavirus outbreak in China could hit economic growth. Front-month March on the Euronext exchange in Paris was up 0.2% or 0.5 euro at 194.75 euros ($216.06) a tonne at 1
Updated 04 Mar, 2020 10:50am
Asia's naphtha, gasoline crack dives on demand concerns
Energy

Asia's naphtha, gasoline crack dives on demand concerns

Asia's naphtha crack eased 2.5% to a three-week low of $76.80 a tonne on muted demand, but gasoline profit-margin slumped 37% to a 7-month low at $2.94 a barrel as traders were concerned about demand being hit by a deadly new coronavirus.
Published 30 Jan, 2020 12:00am
Activities at Karachi and Port Qasim
Business & Economy

Activities at Karachi and Port Qasim

The Karachi Port handled 150,542 tonnes of cargo comprising 79,457 tonnes of import cargo and 71,085 tonnes of export cargo including 7,863 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 30 Jan, 2020 12:00am
Improved trading activity seen on cotton market
Cotton & Textile

Improved trading activity seen on cotton market

Mills indulged in fresh buying of lint on the cotton market on Wednesday in the process of improved trading activity, dealers said. The official spot rate was increased by Rs100 to Rs9150, they added. In the ready session, over 4000 bales of cotton change
Published 30 Jan, 2020 12:00am
India's rice exports fall sharply
Commodities

India's rice exports fall sharply

Reluctance among Indian traders to ship premium basmati rice to Iran as US sanctions hobble its ability to pay has contributed to a sharp drop in overall exports from the world's biggest supplier of the grain, trade and government sources said.
Published 30 Jan, 2020 12:00am
Dollar holds gains in European trade
Money & Banking

Dollar holds gains in European trade

The dollar held near two-month highs on Wednesday and other currencies seen as safe havens stabilised as investors regained their composure after an outbreak of coronavirus in China, awaiting more news on possible economic damage.
Updated 30 Jan, 2020 07:43am
Latam FX in tight range
Money & Banking

Latam FX in tight range

Stocks in Latin America traded higher on Wednesday, while currencies remained stuck in tight ranges against a stronger dollar, as investors reassessed exposure to riskier assets amid an ongoing coronavirus outbreak in China.
Published 30 Jan, 2020 12:00am