News Archives for Print - 2023-06-19

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Print - 2023-06-19

Free and fair elections?

EDITORIAL: A lengthy discussion at a seminar arranged by Pildat (Pakistan Institution of Legislative Development) on...

Published 19 Jun, 2023 07:15am

The quagmire of local-law domestic debt restructuring

As is widely understood, Pakistan is facing the dual dilemma of foreign debt servicing that has placed her foreign...

Updated 19 Jun, 2023 10:12am

Residual thoughts on FY24 budget

The budget 2023-24 envisages 23.7 billion dollars of external borrowing – an amount premised on a rupee dollar...

Published 19 Jun, 2023 07:12am

Budget doesn’t help govt broaden tax base

EDITORIAL: The International Monetary Fund (IMF) has lamented the missed opportunity to broaden the tax base in the...

Published 19 Jun, 2023 07:08am

Swiss voters approve global minimum corporate tax, climate goals

ZURICH: Swiss voters voted on Sunday to introduce a global minimum tax on businesses and a climate law that aims to...

Published 19 Jun, 2023 06:55am

Europe

Belgian official resigns over Tehran mayor’s visit

BRUSSELS: A Belgium regional official for Brussels, Pascal Smet, resigned on Sunday after sparking a furore by...

Published 19 Jun, 2023 06:55am

Middle East

Israel gives nod to Gaza Marine gas development, wants security assurances

OCCUPIED JERUSALEM: Israel gave preliminary approval for the development of a gas field off the Gaza Strip on Sunday...

Published 19 Jun, 2023 06:55am

Mexico authorities find 129 migrants packed in cargo truck

MEXICO CITY: Mexican authorities found 129 migrants packed into the back of a cargo truck, the National Institute of...

Published 19 Jun, 2023 06:55am

Riyadh Air says no aircraft announcements at air show

PARIS: The head of new Saudi airline Riyadh Air ruled out updating aircraft orders at this week’s Paris Airshow....

Published 19 Jun, 2023 06:55am

South Asia

Jailed Bangladesh hangman freed after sentence cut for kills

DHAKA: A jailed Bangladeshi hangman who executed more than two dozen fellow prisoners including killers and coup...

Published 19 Jun, 2023 06:55am

Rates

Automart: car prices in Karachi

Rates in the week ended Sunday June 18, 2023

Published 19 Jun, 2023 06:55am

BLF commander Nawaz Rind found dead

QUETTA: Nawaz Ali Rind, Balochistan Liberation Front (BLF) Commander, who belonged to Awaran, has been found dead in...

Published 19 Jun, 2023 06:55am

Karachi mayor urged to help resolve water issue immediately

KARACHI: The megacity of Karachi also faces ‘mega’ issues and the newly elected mayor Murtaza Wahab should brace...

Published 19 Jun, 2023 06:55am

CM orders action against dumping of solid waste along roadsides

KARACHI: Sindh Chief Minister Syed Murad Ali Shah has directed the district administration and the police of all the...

Published 19 Jun, 2023 06:55am

Experts for promoting critical thinking among youth

KARACHI: Experts at a two-day consultation urged the need for promoting scientific and critical thinking among youth...

Published 19 Jun, 2023 06:55am

Malir Expressway: CM asks local govt officials to speed up work

KARACHI: Sindh Chief Minister Syed Murad Ali Shah during his visit to the under-construction Malir Expressway...

Published 19 Jun, 2023 06:55am

Trump lacked power to declassify secret nuclear arms document: experts

WASHINGTON: Even when he was president, Donald Trump lacked the legal authority to declassify a US nuclear...

Published 19 Jun, 2023 06:55am

Blinken, Qin hold ‘candid’ talks, US and China agree to meet again

BEIJING: The US secretary of state and Chinese foreign minister on Sunday held what both called candid and...

Published 19 Jun, 2023 06:55am

South Asia

India approves procurement of US MQ-9B SeaGuardian drones

NEW DELHI: India’s defence ministry has approved the procurement of US-made armed MQ-9B SeaGuardian drones, ...

Published 19 Jun, 2023 06:55am

Israel to build fibre-optic link between Europe and Asia

JERUSALEM: Israel will build a 254-kilometre (158 mile) fibre-optic cable between the Mediterranean and Red Sea,...

Published 19 Jun, 2023 06:55am

EU lawmakers vote for tougher AI rules as draft moves to final stage

BRUSSELS /STOCKHOLM: European Union lawmakers on Wednesday agreed changes to draft artificial intelligence rules to...

Published 19 Jun, 2023 06:55am

NATO says peacekeepers ‘unwavering’ as Kosovo tensions flare

BRUSSELS: NATO on Sunday underlined the “unwavering” commitment of its KFOR peacekeeping force to its duties in...

Published 19 Jun, 2023 06:55am

Russia reports fierce fighting as African peace mission leaves empty-handed

MOSCOW: Russia reported fierce fighting on Sunday on three sections of the front line in Ukraine, a day after ...

Published 19 Jun, 2023 06:55am

Special Olympics Pakistan contingent: Jubilee Life Insurance supports send-off

ISLAMABAD: Jubilee Life Insurance, Pakistan’s largest private sector insurance company, proudly supported the...

Published 19 Jun, 2023 06:55am

Minister for joint efforts to uproot scourge of narcotics

PESHAWAR: Khyber Pakhtunkhwa Minister for Excise, Taxation and Narcotics Control Haji Manzoor Khan Afridi has said...

Published 19 Jun, 2023 06:55am

Power theft challenge in Punjab: Survey on religious incentives to be conducted by CERP

ISLAMABAD: The Centre for Economic Research Pakistan (CERP) is to conduct a mass survey across Punjab to examine...

Published 19 Jun, 2023 06:55am

NAB team: LUMHS refutes report

HYDERABAD: In response to a news appearing in social media regarding arrival of NAB Team at LUMHS Diagnostic &...

Published 19 Jun, 2023 06:55am

The Weather

KARACHI: The weather report on Sunday (June 18, 2023) and the forecast for Monday (June 19, 2023)....

Published 19 Jun, 2023 06:55am

India eases curfew in violence-hit Manipur

GUWAHATI, (India): Indian authorities said on Sunday they had started to relax a curfew imposed in violence-hit...

Updated 19 Jun, 2023 09:07am

Rates

Stocks remain under pressure

KARACHI: Pakistan Stock Exchange remained under pressure during the outgoing week on selling pressure due to ...

Published 19 Jun, 2023 06:55am

Rates

Futures spread declines 174bps

KARACHI: The futures spread declined by 174bps to 17.23 percent on the last day of the outgoing week. Trading...

Published 19 Jun, 2023 06:55am

Biden says rich need to pay ‘fair share’ of taxes

PHILADELPHIA: President Joe Biden on Saturday appealed to blue-collar workers to support his re-election quest and...

Updated 19 Jun, 2023 09:08am

Rates

PKR: largely stable

KARACHI: The rupee remained largely stable in the inter-bank market, depreciating 0.08% to settle at 287.19 against...

Published 19 Jun, 2023 06:55am

Ahsan responds to Bilawal: ‘Don’t criticise govt in political rallies’

KARACHI: A day after PPP Chairman Bilawal Bhutto-Zardari rejected the recently unveiled budget, Planning Minister...

Updated 19 Jun, 2023 09:12am

Ruet body to meet today

KARACHI: The Central Ruet-e-Hilal Committee will meet tomorrow (Monday) for sighting the crescent of Zilhaj, 1444 ...

Published 19 Jun, 2023 06:55am

Bilawal expresses grief

KARACHI: Chairman of Pakistan People Party (PPP) and Foreign Minister Bilawal Bhutto Zardari on Sunday expressed...

Published 19 Jun, 2023 06:55am

Greek boat tragedy: AJK announces 3-day mourning

MUZAFFARABAD/KOTLI: The government of Azad Kashmir has announced a three-day mourning period to bemoan the death and...

Published 19 Jun, 2023 06:55am

Wanted terrorist commander Zafari killed in Dara Adam Khel

ISLAMABAD: The security forces in a successful intelligence based operation on Sunday killed the most wanted...

Published 19 Jun, 2023 06:55am

Pakistani migrant’s final call home foretold Greek tragedy

MUZAFFARABAD: Before 21-year-old Pakistani Muhammad Akash boarded a rickety fishing trawler in Libya on a journey he...

Published 19 Jun, 2023 06:55am

EPI launches awareness drive: Minister underscores need for promoting hygiene practices

LAHORE: Underlining the need for promoting hygiene practices among the people, Punjab caretaker Minister for Primary...

Published 19 Jun, 2023 06:55am

Energy

IESCO region: Drive for recovery of outstanding dues in full swing

ISLAMABAD: In the light of the special directives given by the Government of Pakistan and the Federal Minister for...

Published 19 Jun, 2023 06:55am

WSSP, IDEA sign agreement to provide clean water

PESHAWAR: Water & Sanitation Services Peshawar (WSSP) and Initiative for Empowerment Axis (IDEA) have signed an...

Published 19 Jun, 2023 06:55am

Retiring Punjab govt employees may suffer heavy financial losses

LAHORE: As per notification issued by the Finance Department, Government of the Punjab on 1st June 2023, the Punjab...

Published 19 Jun, 2023 06:55am

Cotton & Textile

Weekly Cotton Review: Local market witnesses significant decline in prices

KARACHI: The local market saw a significant decline in the prices of cotton during previous week. Spot rate was...

Published 19 Jun, 2023 06:55am

Stocks

China, Hong Kong stocks rise on stimulus hope

SHANGHAI: Stocks in China and Hong Kong rose on Friday in their best weekly performance in five months, as investor...

Published 19 Jun, 2023 06:55am

Commodities

Copper pulls back from five-week high as LME inventories rise

LONDON: Copper prices touched their highest in more than five weeks on Friday but came off the peak as data showed...

Published 19 Jun, 2023 06:55am

Energy

Oil gains for the week as supply cuts balance demand concerns

NEW YORK: Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices,...

Published 19 Jun, 2023 06:55am

Commodities

Gold wobbles as traders juggle hawkish Fed

NEW YORK: Gold prices were choppy on Friday as investors juggled a hawkish Federal Reserve outlook on interest ...

Published 19 Jun, 2023 06:55am

Commodities

Malaysian palm oil futures soar

KUALA LUMPUR: Malaysian palm oil futures soared on Friday for a fourth day, recording an 11 percent weekly jump, as...

Published 19 Jun, 2023 06:55am

Stocks

European shares posts best week in 2 months

PARIS: European shares closed at a three-week high on Friday, underpinned by luxury and defensive stocks at the end...

Published 19 Jun, 2023 06:55am

Stocks

Qatar stock market ends lower

DUBAI: Qatar’s stock market ended lower on Sunday as comments from two US Federal Reserve officials curtailed...

Published 19 Jun, 2023 06:55am

Stocks

S&P 500 ends lower as Microsoft recedes from record high

NEW YORK: The S&P 500 ended lower on Friday, weighed down by Microsoft and other market heavyweights as comments...

Published 19 Jun, 2023 06:55am

Letters

IMF needs to soften its stance

The IMF Managing Director, Kristalina Georgieva, in her interview to Deutsche Welle Asia had said that “My heart...

Published 19 Jun, 2023 06:55am

Wali (Bettani) oil & gas field: OGDCL announces commencement of production

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), the operator of the Wali (Bettani) Exploration License...

Updated 19 Jun, 2023 09:10am

Commodities

Prices of essential items remain firm

PESHAWAR: Prices of important kitchen items remained firm in the local market. According to a survey conducted by...

Published 19 Jun, 2023 06:55am

Energy

Iran’s oil exports hit 5-year highs as US holds nuclear talks

LONDON: Iran’s crude exports and oil output have hit new highs in 2023 despite US sanctions, according to...

Published 19 Jun, 2023 06:55am

Energy

Iraq invites foreign bids for 11 gas blocks in new areas

BAGHDAD: Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves ...

Published 19 Jun, 2023 06:55am

Rates

YOUR RUPEE LAST MONTH

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last month (May 2 to 31,...

Published 19 Jun, 2023 06:55am

Rates

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last week. (June 12 to 16,...

Published 19 Jun, 2023 06:55am

Hike in power tariff widely expected

Federal government mulls an increase in electricity tariff of up to Rs 5 per unit

Updated 19 Jun, 2023 11:37am

PPL seeks recovery of dues

ISLAMABAD: Pakistan Petroleum Limited (PPL) has requested Secretary Petroleum to recover Rs 6.186 billion dues from...

Updated 19 Jun, 2023 09:14am

Balochistan budget today

QUETTA: The Balochistan government will unveil fiscal year 2023-24 budget on Monday with an expected outlay of more...

Updated 19 Jun, 2023 09:15am

10 trafficking suspects held after boat tragedy

MUZAFFARABAD: Authorities arrested 10 alleged human traffickers days after dozens of migrants drowned off the coast...

Updated 19 Jun, 2023 09:09am

PM orders probe into tragedy

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday ordered an inquiry into the tragic incident of the boat that...

Updated 19 Jun, 2023 09:13am

Eid-ul-Azha in KSA on 28th

KARACHI: The crescent moon for Zil Hajj was sighted in Saudi Arabia on Sunday and the first day of the month will...

Updated 19 Jun, 2023 09:08am

Airbus close to new Viva Aerobus jet order

PARIS: Airbus is in advanced talks for a major new order from Mexican low-cost airline Viva Aerobus, industry ...

Published 19 Jun, 2023 06:55am

SVB agrees to sell its investment banking division

NEW YORK: SVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking...

Published 19 Jun, 2023 06:55am

Italy rules Pirelli’s Chinese top investor Sinochem cannot choose CEO

ROME: Italy’s government has ruled that China’s Sinochem cannot designate the chief executive of Pirelli despite...

Published 19 Jun, 2023 06:55am

Taxes

Revival of film industry: Cinemas given 10-year tax amnesty: Marriyum

ISLAMABAD: Minister for Information and Broadcasting Marriyum Aurangzeb on Sunday said that income of cinemas has...

Published 19 Jun, 2023 06:55am

PIA generates Rs172bn revenue in 2022

KARACHI: PIA shareholders meeting was held at Karachi on Saturday. CEO PIA, AVM Amir Hayat addressed the ...

Published 19 Jun, 2023 06:55am

Taxes

UBG demands waiver of freight tax

KARACHI: The chairman of United Business Group (UBG), Shahzad Malik, has complimented the FBR team for compiling an...

Published 19 Jun, 2023 06:55am

Trade, energy, transport: Pakistan, Iran agree to deepen cooperation

ISLAMABAD: Pakistan and Iran have agreed to deepen cooperation in trade, energy, transport, connectivity, cultural...

Published 19 Jun, 2023 06:55am

Industry

BMP of FPCCI expresses its dismay at LSM slide

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP), has expressed its...

Published 19 Jun, 2023 06:55am

Entrepreneurs showcase next generation sustainable aquaculture systems

LAHORE: Sea food demand is estimated to be over 200 million tons per annum by the year 2030 and aquaculture will be...

Updated 19 Jun, 2023 05:48pm

Industry

Minister, CEO EZDMC visit Jalozai EZ, inaugurate unit

PESHAWAR: KP Minister for Industries, Commerce & Technical Education (IC&TE), Adnan Jalil, along with Chief...

Published 19 Jun, 2023 06:55am

Money & Banking

Yen sags to 15-year low vs euro after BOJ rate decision

NEW YORK: The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its...

Published 19 Jun, 2023 06:55am

Industry

BD HC highlights untapped trade potential

LAHORE: High Commissioner of Bangladesh to Pakistan, Muhammad Ruhul Alam Siddiqui, emphasized the untapped potential...

Published 19 Jun, 2023 06:55am

Industry

Minister, FPCCI chief bring SMEs under sharper focus

ISLAMABAD: Minister for Industry and Production Makhdoom Syed Murtaza Mahmood on Sunday visited Federation of...

Published 19 Jun, 2023 06:55am

4-month budget: KP govt finalises expenditure proposals

PESHAWAR: A high level meeting held here on Sunday with Caretaker Chief Minister Khyber Pakhtunkhwa Muhammad Azam...

Updated 19 Jun, 2023 09:11am

China’s economy slows in May, firming case for more support

BEIJING: China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding...

Published 19 Jun, 2023 06:55am

Taxes

Units in erstwhile tribal areas: Kitty to suffer Rs45bn loss due to one-year extension of exemption from duties, taxes

ISLAMABAD: The one-year extension in exemption from duties and taxes for the erstwhile tribal areas would cause a...

Published 19 Jun, 2023 06:55am

Taxes

Tax exemption for erstwhile Fata/Pata becomes bone of contention

PESHAWAR: Tax exemption to the industrial units of the erstwhile Federal Administered Tribal Area (FATA) and...

Published 19 Jun, 2023 06:55am

Companies

FMBL signs MoU with ConnectHear

LAHORE: FINCA Microfinance Bank Limited (FMBL) announced a strategic partnership with ConnectHear, an innovative...

Published 19 Jun, 2023 06:54am

Industry

Pakistan-Iran border markets to contribute towards overall development of Balochistan

QUETTA: After years of turmoil and unrest, the Balochistan province is embarking on a journey to prosperity whether...

Published 19 Jun, 2023 06:54am

Companies

Dairy sector: FCEPL, NEDAP join forces to harness huge potential

KARACHI: Friesland Campina Engro Pakistan Limited (FCEPL) and NEDAP, a multinational technology company in the...

Published 19 Jun, 2023 06:54am

Companies

Novartis to buy Chinook for up to $3.5bn in boost to late-stage pipeline

BERN: Novartis has agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion to boost...

Published 19 Jun, 2023 06:54am

Companies

Shell boosts dividend, steadies oil output under new CEO’s plan

LONDON: Shell said it will ramp up its dividend and share buybacks while keeping oil output steady into 2030, as CEO...

Published 19 Jun, 2023 06:54am

Companies

Rio Tinto to invest $1.1bn to expand aluminum smelter in Canada

BENGALURU: Rio Tinto will invest $1.1 billion to expand its “low-carbon” aluminum smelter at Complexe Jonquière...

Published 19 Jun, 2023 06:54am

Companies

UBS embarks on ‘bumpy’ integration of Credit Suisse

ZURICH: UBS said on Monday that it had finalised the takeover of its former rival Credit Suisse, clearing the way ...

Published 19 Jun, 2023 06:54am

Companies

TikTok to spend billions in SE Asia as e-commerce move pays off

JAKARTA: Tik Tok’s chief executive said Thursday the company would pour billions of dollars into Southeast Asia in...

Published 19 Jun, 2023 06:54am

Companies

Intel to invest $25bn in new Israel plant

JERUSALEM: US chip giant Intel will spend $25 billion on a new plant in Israel, officials said Sunday, with Prime...

Published 19 Jun, 2023 06:54am

Companies

Vodafone, Hutchison announce merger of UK mobile ops

LONDON: Mobile phone giant Vodafone has agreed to merge British operations with Three UK, owned by Hong Kong-based ...

Published 19 Jun, 2023 06:54am

Companies

HSBC eyes leading role in banking for VCs, startups after hiring wave

NEW YORK: HSBC Holding plc is seeking to become a leading bank for venture capital firms and startups globally after...

Published 19 Jun, 2023 06:54am

Companies

Goldman cutting more than 30 Asia investment banking jobs

HONG KONG: Goldman Sachs Group is cutting more than 30 banking jobs in Asia, two sources with knowledge of the ...

Published 19 Jun, 2023 06:54am

Companies

Bunge, Viterra will merge to form $34bn agri-trading powerhouse

CHICAGO: US grains merchant Bunge and Glencore-backed Viterra are merging to create a roughly $34 billion...

Published 19 Jun, 2023 06:54am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 9	278.20
USD PKR Interbank Buying / May 9	278
USD to Japanese Yen / May 9	155.57
USD to Swiss Franc / May 9	0.91
Pound Sterling to USD / May 9	1.25
Euro to USD / May 9	1.07

Stock	Volume
S&P 500 / May 8	5187.67
Nasdaq / May 8	16302.76
Dow Jones / May 8	39056.39
India Sensex / May 9	72965.17
Tokyo Nikkei / May 9	38260.75
Hang Seng / May 9	18532.72
FTSE 100 / May 9	8363.71
Germany DAX 30 / May 9	18547.71

Item	Value
Crude Oil USD/Barrel / May 9	79.44
Karachi Cotton PKR/37.32 KG / May 9	19935
Gold 10 Grams PKR / May 9	205075
Gold Spot USD/Ounce / May 9	2318.17
Cotton US¢/pound / May 9	79.20
Petrol/Litre / May 10	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 10 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 10 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 10 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 10 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 10 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 10 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 10 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 10 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 10 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 10 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 10 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 10 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 10 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 10 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 10 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 10 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 10 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 10 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 10 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 10 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 10 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 10 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 10 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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