Print - 2020-04-18
IAEA to provide equipments to fight Covid-19: FO

IAEA to provide equipments to fight Covid-19: FO

The International Atomic Energy Agency (IAEA) will provide Pakistan the polymerase chain reaction (PCR) machine, biohazard safety cabinets, test kits and related consumables to help fight the novel coronavirus through the use of a nuclear derived machine,
Published 18 Apr, 2020 12:00am
Covid-19 challenge: Government steps must be targeted, temporary: IMF

Covid-19 challenge: Government steps must be targeted, temporary: IMF

The regulatory measures and expanded refinancing schemes of the government to contain the ensuing economic impact of COVID-19 must be targeted and temporary, and their design should not create moral hazard nor foster poor credit risk management practices,
Published 18 Apr, 2020 12:00am
IMF scales down tax target to Rs 3.908 trillion

IMF scales down tax target to Rs 3.908 trillion

The International Monetary Fund (IMF) has revised projection of Federal Board of Revenue (FBR) tax collection of Rs 4.8 trillion pre-Covid-19 to Rs 3.908 trillion post Covid-19 for the current fiscal year, reflecting a decrease of Rs 0.892 trillion.
Published 18 Apr, 2020 12:00am
Covid-19 shock to cause big impact on BoP

Covid-19 shock to cause big impact on BoP

Pakistan's primary deficit is now expected to deteriorate to 2.9 percent of GDP in fiscal year 2020 (from 0.8 percent expected earlier) due to a 1.8 percentage point decline in tax revenue relative to the pre-virus baseline and the needed higher spending
Published 18 Apr, 2020 12:00am
PSX sees unprecedented surge: BRIndex100 stages smart rally
Stocks

PSX sees unprecedented surge: BRIndex100 stages smart rally

A host of positive factors including SBP's surprise rate cut, deferment of G20 debt and provision of COVID-19 relief fund from the IMF invited aggressive buying and Pakistan Stock Exchange witnessed a bullish trend to close on strong positive note with he
Published 18 Apr, 2020 12:00am
KSE-30 Index: First-ever market halt due to upper locks

KSE-30 Index: First-ever market halt due to upper locks

Pakistan Stock Exchange triggered Market Halt on Friday at 10:52am due to 5.0 percent increase in KSE-30 index. It was the first ever market halt that was triggered when the market was in bullish mood and the KSE-30 Index saw a sudden increase of 5.0 perc
Published 18 Apr, 2020 12:00am
IPPs reject power committee's allegations

IPPs reject power committee's allegations

Independent Power Producers (IPPs) have strongly rejected the allegations levelled against them in the report of "Committee for Power Sector Audit, Circular Debt Resolution and Future Road Map" submitted to Prime Minister Imran Khan.
Published 18 Apr, 2020 12:00am
Wuhan raises death toll by 50 percent

Wuhan raises death toll by 50 percent

China's coronavirus ground-zero city of Wuhan on Friday admitted missteps in tallying its death toll as it abruptly raised the count by 50 percent, as world doubts mounted about how transparent China has been during the crisis.
Published 18 Apr, 2020 12:00am
Japan offers $930 stimulus payment to all residents

Japan offers $930 stimulus payment to all residents

Japan will offer a cash payment of 100,000 yen ($930) to every resident, Prime Minister Shinzo Abe announced Friday, as measures to contain the coronavirus decimate the world's third-top economy. "We are moving quickly to deliver cash to all people," Abe
Published 18 Apr, 2020 12:00am
FE-25 deposits: State Bank cuts SCRR by 5 percent

FE-25 deposits: State Bank cuts SCRR by 5 percent

In order to provide liquidity comfort to banks, the State Bank of Pakistan (SBP) Friday cut the Special Cash Reserve Requirement by 5 percent against deposits raised under foreign exchange circular (FE-25).
Published 18 Apr, 2020 12:00am
Construction industry: Ordinance promulgated

Construction industry: Ordinance promulgated

President Arif Alvi Friday promulgated Tax Laws (Amendment) Ordinance, 2020 for construction industry. The salient features of the Tax Laws (Amendment) Ordinance, 2020 for construction industry, Friday approved by the federal cabinet, included introductio
Published 18 Apr, 2020 12:00am
March exports decline by 15.23 percent

March exports decline by 15.23 percent

The country's exports during March 2020 against February 2020 have witnessed a reduction of 15.23 percent, from $2.140 billion to $1.814 billion, the Pakistan Bureau of Statistic (PBS) said.
Published 18 Apr, 2020 12:00am
NASA announces first SpaceX crewed flight for May 27

NASA announces first SpaceX crewed flight for May 27

NASA announced on Friday that a SpaceX rocket will send two American astronauts to the International Space Station on May 27, the first crewed spaceflight from the US in nearly a decade.
Published 18 Apr, 2020 12:00am
Ali Suleman Habib passes away

Ali Suleman Habib passes away

Chairman of Indus Motor Company (IMC) Ali Suleman Habib on Friday passed away in Karachi. He was 63. He was admitted to a private hospital in Karachi on March 31, 2020 where he breathed his last. He was suffering from acute pancreatitis that led to organ
Published 18 Apr, 2020 12:00am
Qureshi launches new application 'FM Direct' digitally

Qureshi launches new application 'FM Direct' digitally

Foreign Minister Shah Mahmood Qureshi launched a new application, "FM Direct" digitally, Friday as part of his "Vision FO", a platform for thought leadership at the Foreign Office. The event was attended by over 60 heads of missions of Pakistan online acr
Published 18 Apr, 2020 12:00am
Combined income groups: SPI inflation up 0.15 percent WoW

Combined income groups: SPI inflation up 0.15 percent WoW

The Sensitive Price Indicator (SPI) inflation during the week ended April 16 against April 9, 2020 witnessed an increase of 0.15 percent for combined income groups, ie, from 124.97 points to 125.16 points, Pakistan Bureau of Statistic (PBS) revealed.
Published 18 Apr, 2020 12:00am
Stranded Pakistanis in UAE: PIA special flight operations begin today

Stranded Pakistanis in UAE: PIA special flight operations begin today

The Pakistan International Airlines (PIA) will begin special flight operations to repatriate stranded Pakistanis in the UAE from Saturday. Sources said that first special PIA flight from Dubai would repatriate up to 200 passengers to Islamabad.
Published 18 Apr, 2020 12:00am
NAB's performance
Letters

NAB's performance

This is with reference to an article carried by Business Recorder on 12th April 2020 under the title "A review of NAB performance under the leadership of Honourable Chairman Justice Javed Iqbal" by Nawazish Ali Asim, spokesman for NAB media.
Published 18 Apr, 2020 12:00am
Fast-fashion nightmare for Bangladeshi clothes makers
Articles

Fast-fashion nightmare for Bangladeshi clothes makers

One day Parvin was toiling to meet the fast-fashion demands of European capitals, the next she was among hundreds of thousands of Bangladeshi clothes workers made instantly jobless as the coronavirus pandemic struck.
Published 18 Apr, 2020 12:00am
Revenge of the fallen
Articles

Revenge of the fallen

As the country gets ravaged by the Virus Wars, with the situation getting worse day by day, let us start once again with a prayer that Allah SWT alleviates the hardship of our beloved nation soon.
Published 18 Apr, 2020 12:00am
IPPs in the dock?
Articles

IPPs in the dock?

PM Imran Khan vowed in the midst of recent sugar, wheat and other commodities shortage and hoarding crisis that he would not spare the cartels and hoarders and take them to task.
Published 18 Apr, 2020 12:00am
Trump's tiff with WHO

Trump's tiff with WHO

Even by his standards it is an extraordinary act of self-serving bias. At a time the world desperately needs to come together to fight the coronavirus pandemic, President Donald Trump announced suspension of US funding to the World Health Organisation acc
Updated 20 Apr, 2020 06:49am
PM's plea heeded

PM's plea heeded

The G-20 countries heeded prime minister Imran Khan's call to multilaterals and bilaterals to consider writing-off debt to countries like Pakistan subsequent to the onset of the coronavirus that has mercilessly pushed millions of families below the povert
Updated 20 Apr, 2020 06:49am
Recession looms large

Recession looms large

The World Bank's report on Sunday didn't really say anything that wasn't already written on the wall as it warned of the worst economic performance in 40 years in South Asia and a sharp recession in Pakistan because of the global coronavirus pandemic. Sin
Updated 20 Apr, 2020 06:43am
SC reconstitutes 11-member PMDC

SC reconstitutes 11-member PMDC

The Supreme Court reconstituted 11-member Pakistan Medical and Dental Council (PMDC), which will be presided over by former Justice Ejaz Afzal.
Published 18 Apr, 2020 12:00am
GIK startup develops online shopping search engine
IT & Computers

GIK startup develops online shopping search engine

The Ghulam Ishaq Khan (GIK) Institute startup has developed Pakistan's first real-time online shopping search engine that is expected to prove very helpful for the people during the lockdown, officials of the Institute said here on Friday.
Published 18 Apr, 2020 12:00am
Ehsaas Emergency Cash Programme registration to be closed on April 19

Ehsaas Emergency Cash Programme registration to be closed on April 19

The registration for the Ehsaas Emergency Cash Programme under which financial assistance of Rs12,000 each is being provided to 12 million families, would be closed on Sunday midnight (April 19), while more than 85 million applicants have already register
Published 18 Apr, 2020 12:00am
Nine more patients test positive in capital

Nine more patients test positive in capital

The coronavirus cases have started to increase as in last 24 hours, as many as nine more patients were tested positive in the federal capital, taking the tally to 154 on Friday.
Published 18 Apr, 2020 12:00am
Coronavirus: 'PM, CM personally monitoring situation'

Coronavirus: 'PM, CM personally monitoring situation'

Prime Minister Imran Khan and Chief Minister Sardar Usman Buzdar are personally monitoring Corona situation while with the increase in testing capacity, we will be able to control the spread of coronavirus.
Published 18 Apr, 2020 12:00am
PML-N adopts silence to strike deal for Hamza's relief?

PML-N adopts silence to strike deal for Hamza's relief?

Pakistan Muslim League-Nawaz (PML-N) in recent days has adopted a 'low-profile' and detached itself from political activities in the backdrop of the reported efforts by the top party leadership to get some 'relief' for Hamza Shehbaz presently detained by
Published 18 Apr, 2020 12:00am
PSDF, Gnowbe to offer free online COVID-19 prevention course

PSDF, Gnowbe to offer free online COVID-19 prevention course

PSDF, the largest skills development fund in Pakistan (funded by DFID and the Government of Punjab), has partnered with international platform Gnowbe to offer a free online course "Stay Protected with Infection Control and Prevention 101 Program" for the
Published 18 Apr, 2020 12:00am
Punjab government to seal all borders to snub wheat smuggling

Punjab government to seal all borders to snub wheat smuggling

The Punjab government has decided to seal all the borders of Punjab province to snub wheat smuggling. It has also decided that no private buyer will be allowed to pick up wheat from the province while there will be regular written purchase agreements with
Published 18 Apr, 2020 12:00am
MCC seizes cigarettes, cigars worth Rs 43 million
Taxes

MCC seizes cigarettes, cigars worth Rs 43 million

Model Customs Collectorate (MCC), Preventive on Friday confiscated huge cache of smuggled cigarettes, cigars and chewing tobaccos worth Rs 43 million in separate raids at different parts old city areas.
Published 18 Apr, 2020 12:00am
Congregational prayers: SHC dismisses petition filed against restriction

Congregational prayers: SHC dismisses petition filed against restriction

The Sindh High Court (SHC) on Friday dismissed the petition filed against the restriction on congregational prayers in mosques and ruled that the authorities concerned were taking steps to ensure the safety of lives in view of the spread of the coronaviru
Published 18 Apr, 2020 12:00am
Five more coronavirus cases confirmed in Sajawal district

Five more coronavirus cases confirmed in Sajawal district

Five more coronavirus cases confirmed in district Sajawal amid a complete lockdown across the region on Friday. The five patients have been shifted to the isolation ward of the hospital after confirmation of coronavirus among them. Dr Ibrahim Memon, Focal
Published 18 Apr, 2020 12:00am
Ventilator ward established in Tharparkar District

Ventilator ward established in Tharparkar District

consists of 6 ventilators, a ward established in private hospital Al Khidmat Hospital Mithi as Isolation ward by the Health Department and District Administration Tharparkar.
Updated 20 Apr, 2020 06:21am
FPCCI chief hails reduction in policy rate
Business & Economy

FPCCI chief hails reduction in policy rate

President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Anjum Nisar has appreciated reduction in the policy rates by 2 percent from 11 percent to 9 percent by State Bank of Pakistan (SBP) in view of the current situation and
Updated 20 Apr, 2020 06:21am
Saudi Aramco says to supply 8.5 million bpd from May
Energy

Saudi Aramco says to supply 8.5 million bpd from May

Saudi oil giant Aramco said Friday it would market 8.5 million barrels per day (bpd) of crude from May under a producers' agreement to restrict supply and boost plummeting prices. The deal came after a price war between Riyadh and Russia saw the kingdom b
Published 18 Apr, 2020 12:00am
Call centre firm accused of virus barrier breaches

Call centre firm accused of virus barrier breaches

Labour unions said Friday they had lodged a complaint against French call centre firm Teleperformance for allegedly exposing staff in several countries to "dangerous" working conditions amid the coronavirus outbreak.
Published 18 Apr, 2020 12:00am
Pompeo hopes virus causes global rethink on Huawei

Pompeo hopes virus causes global rethink on Huawei

US Secretary of State Mike Pompeo voiced hope Friday that countries will find new reason to reject Chinese telecommunications giant Huawei after watching Beijing's handling of the coronavirus outbreak.
Published 18 Apr, 2020 12:00am
Spain to pay basic income to help poorest weather coronavirus

Spain to pay basic income to help poorest weather coronavirus

Spain is planning to pay a basic monthly income to about a million of the country's poorest households to help them weather the impact of the coronavirus outbreak, Social Security Minister Jose Luis Escriva said Friday.
Published 18 Apr, 2020 12:00am
Trailblazing jazz saxophonist Lee Konitz dies

Trailblazing jazz saxophonist Lee Konitz dies

The groundbreaking jazz saxophonist Lee Konitz, perhaps best known for his work on the pivotal Miles Davis album "Birth of the Cool," has died following coronavirus complications. He was 92. Konitz, a prolific artist celebrated for his improvisation savvy
Published 18 Apr, 2020 12:00am
Acrid smoke hangs over Kiev after Chernobyl fire

Acrid smoke hangs over Kiev after Chernobyl fire

Thick smoke hung over Ukraine's capital Kiev on Friday as forest fires smouldered on in the Chernobyl nuclear zone, but city officials said no radiation spike had been detected. The acrid haze hindered visibility all over the city of three million people
Published 18 Apr, 2020 12:00am
Google to waive ad fees as part of journalism relief effort

Google to waive ad fees as part of journalism relief effort

Google said Friday it would waive fees for publishers using its Ad Manager platform for the next five months as part of its efforts to support news organizations reeling from the coronavirus pandemic. The move comes in addition to Google's "journalism rel
Updated 20 Apr, 2020 06:21am
Norway launches virus tracker app

Norway launches virus tracker app

Norway, one of the first European countries to begin lifting confinement measures, is launching a smartphone tracking and tracing app to try to halt a return of the deadly coronavirus. The "Smittestop" or "stop infection" app has been developed in the Nor
Published 18 Apr, 2020 12:00am
Four EU powers try to unblock asylum reform

Four EU powers try to unblock asylum reform

The EU's four biggest powers - France, Germany, Italy and Spain - have launched a joint initiative to try to unblock a long-stalled effort to reform the bloc's asylum policies. The proposal, made in a letter dated April 9 to two EU commissioners in charge
Published 18 Apr, 2020 12:00am
Asia's naphtha rises to 2-1/2-week high
Energy

Asia's naphtha rises to 2-1/2-week high

Asia's naphtha crack rose to a 2-1/2 week high on Thursday due to low oil prices but the intermonth spread was at its weakest since 2010 due to an oversupplied market.
Published 18 Apr, 2020 12:00am
CBOT corn futures flat
Commodities

CBOT corn futures flat

US corn futures ended nearly unchanged on Thursday, with the most-active contract stabilizing after dropping to a 3-1/2-year low a day earlier.
Published 18 Apr, 2020 12:00am
Listless business seen on cotton market
Cotton & Textile

Listless business seen on cotton market

The rate of cotton will remain stable when the market will reopen again after the lock down. Due to the lock down no major activity was witnessed on the cotton market on Friday.
Published 18 Apr, 2020 12:00am
Activities at Karachi Port
Business & Economy

Activities at Karachi Port

The Karachi Port handled 62,966 tonnes of cargo comprising 48,735 tonnes of import cargo and 14,231 tonnes of export cargo including 5,569 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday.
Published 18 Apr, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Thursday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,663. The traded value of metals, energy and COTS/FX was recorded at PKR 5.159 billion and the number of lots traded was 10,891.
Published 18 Apr, 2020 12:00am
New York cotton
Cotton & Textile

New York cotton

The following were the fluctuations observed during the day:

Published 18 Apr, 2020 12:00am
Tokyo rubber rises
Commodities

Tokyo rubber rises

Tokyo Commodity Exchange (TOCOM) futures rose on Friday after US President Donald Trump unveiled plans to gradually reopen the coronavirus-hit economy, outweighing downbeat economic data from top consumer China.
Published 18 Apr, 2020 12:00am
Copper logs biggest weekly gain since Feb 2019
Commodities

Copper logs biggest weekly gain since Feb 2019

Copper rose to a one-month high on Friday on plans for the US economy to re-open and signs of recovery in China's industrial output, even as growth in the top metals consumer contracted in the first quarter.
Published 18 Apr, 2020 12:00am
Oil prices mixed
Energy

Oil prices mixed

Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling US crude storage offsetting bullishness built on US President Donald Trump's outlines for the US economy to emerge from the coronavirus shutdown.
Published 18 Apr, 2020 12:00am
Gold slides 2 percent in Europe
Commodities

Gold slides 2 percent in Europe

Gold fell as much as 2% on Friday after President Donald Trump's new guidelines to re-open the US economy and encouraging early data related to a potential COVID-19 treatment drove investors towards riskier assets.
Published 18 Apr, 2020 12:00am
Sterling holds steady
Money & Banking

Sterling holds steady

Sterling was stable on Friday amidst a broad-based weaker dollar after Britain said it would extend its coronavirus lockdown for at least three more weeks.
Published 18 Apr, 2020 12:00am
Asian currencies gain
Money & Banking

Asian currencies gain

Asian currencies advanced against a weaker dollar on Friday, with the Indonesian rupiah leading gains, as US President Donald Trump's bid to re-open the economy uplifted the risk sentiment.
Published 18 Apr, 2020 12:00am
Dollar edges up in Europe
Money & Banking

Dollar edges up in Europe

The dollar rose slightly Friday, after an overnight boost to risk sentiment quickly lost momentum and investors returned to a cautious stance about the economic impact of the coronavirus pandemic and lockdown measures.
Published 18 Apr, 2020 12:00am
The Weather

The Weather

The weather report on Friday (April 17, 2020) and the forecast for Saturday (April 18, 2020).

Published 18 Apr, 2020 12:00am
Cotton Spot Rates
Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (April 17, 2020).

Published 18 Apr, 2020 12:00am
Pakistan Mercantile Exchange - PMEX
Rates

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (April 17, 2020).

Published 18 Apr, 2020 12:00am
Shipping Intelligence
Schedules

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (April 17, 2020).

Published 18 Apr, 2020 12:00am
Member to Member
Stocks

Member to Member

The following transactions member to member subsequently reported on Friday (April 17, 2020).

Published 18 Apr, 2020 12:00am
BOARD MEETINGS
Stocks

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 18 Apr, 2020 12:00am