Important Business News 14th January, 2020

 

S.# Description Pg # Source
1.

PM lays greater emphasis on higher exports

Prime Minister Imran Khan has directed the Commerce Division to fix targets of export growth as increase in exports is priority of the government.

https://epaper.brecorder.com/2020/01/14/1-page/819793-news.html

1 Business Recorder
2.

PM meets businesspeople, orders steps

Prime Minister Imran Khan Monday assured the representatives of business community that the government would unveil a comprehensive policy soon for revival of sick industrial units as well as sales tax adjustment procedure to move the wheels of economy and generate employment opportunities.

https://epaper.brecorder.com/2020/01/14/1-page/819794-news.html

1 Business Recorder
3.

Remittances

MoF upbeat about achieving $24bn target
The Ministry of Finance is optimistic that a number of government measures will help achieve the target of $24 billion foreign remittances set for the financial year 2020.

https://epaper.brecorder.com/2020/01/14/1-page/819795-news.html

1 Business Recorder
4.

NA passes key bills

The National Assembly on Monday passed ‘The Banks (Nationalization) (Amendment) Bill, 2020’ for regulatory supervision of all non-banking institutions, including National Investment Trust Limited (NITL), under the regulatory purview of Securities and Exchange Commission of Pakistan (SECP).

1 Business Recorder
5.

Fitch affirms long-term foreign currency IDR at ‘B-’ with a stable outlook

Fitch Ratings has affirmed Pakistan’s long term foreign currency issuer default rating (IDR) at ‘B-’ with a stable outlook.

https://epaper.brecorder.com/2020/01/14/1-page/819796-news.html

1 Business Recorder
6.

Minister tells NA

Saudi co to invest $4bn in renewable energy sector
Minister for Power Division Omar Ayub Khan on Monday informed the National Assembly that a Saudi power producing company, ACWA Power, will invest around $4 billion in the country’s renewable energy sector.

https://epaper.brecorder.com/2020/01/14/3-page/819808-news.html

3 Business Recorder
7.

Evasion of sales tax

IR Faisalabad raids premises of two manufacturing firms
Directorate of Intelligence & Investigation (Inland Revenue) Faisalabad has raided the premises of two manufacturing firms engaged in making taxable supplies and involved in massive evasion of sales tax.

https://epaper.brecorder.com/2020/01/14/5-page/819814-news.html

5 Business Recorder
8.

FBR launches crackdown on counterfeit cigarette sellers

The Federal Board of Revenue (FBR) Monday launched a crackdown against the traders/businessmen involved in selling of counterfeit cigarettes, but also started nationwide awareness campaign among the traders to avert from selling such non-duty paid items.   https://epaper.brecorder.com/2020/01/14/5-page/819817-news.html

5 Business Recorder
9.

New regime

Stock brokers voice concern over SECP proposal
The PSX Stock Brokers Association has expressed concern over the new brokers’ regime proposed by the Securities and Exchange Commission of Pakistan (SECP) with the comments that it would only facilitate big players in the stock market.

https://epaper.brecorder.com/2020/01/14/5-page/819816-news.html

5 Business Recorder
10.

SBP governor underscores need for higher exports

State Bank of Pakistan (SBP) Governor Dr Reza Baqir Monday said that there is a need for shifting from ‘inward-oriented’ to an ‘outward-oriented’ economy that puts a greater emphasis on exports to achieve high and sustained growth.

https://epaper.brecorder.com/2020/01/14/7-page/819824-news.html

7 Business Recorder
11.

Gold prices down by Rs700

Gold on Monday was traded for Rs 89,600 per tola, down by Rs 700 on the local market, traders said.

https://epaper.brecorder.com/2020/01/14/7-page/819826-news.html

7 Business Recorder
12.

Industrialists postpone their protest against SSGC

Industrialists of seven industrial estates have postponed further protest program on the assurance of Sui Southern Gas Company (SSGC) management to take appropriate measures and improve gas supply.

https://epaper.brecorder.com/2020/01/14/7-page/819828-news.html

7 Business Recorder  
13.

Dull activity seen on cotton market

Leading mills and spinners were on the sidelines on the cotton market on Monday as the ginners did not show any interest in fresh deals in expectations of better profit, dealers said.  https://epaper.brecorder.com/2020/01/14/8-page/819836-news.html

8 Business Recorder
14.

PMEX daily trading report

KARACHI: On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,467.  https://epaper.brecorder.com/2020/01/14/8-page/819843-news.html

8 Business Recorder
15.

Makers of 4G & 5G mobile sets

Incentives to be announced soon: Dawood
Prime Minister Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood on Monday said that the government will soon announce incentives for the local manufacturers of 4G and 5G mobile sets.

https://epaper.brecorder.com/2020/01/14/15-page/819913-news.html

15 Business Recorder
16.

Goods transporters end strike; decision welcomed

Textile exporters have welcomed the end of goods transporters’ strike as it was giving big blow to the export-oriented industry causing delay of inland supplies and export consignments and also incurring billions of rupees loss to the economy.

https://epaper.brecorder.com/2020/01/14/16-page/819919-news.html

16 Business Recorder
17.

SECP introduces new regime for securities brokers

Securities and Exchange Commission of Pakistan (SECP) Monday introduced new brokers regime for securities brokers by dividing brokers into three categories i.e. ‘Trading Only’, ‘Trading and Self-Clearing’ and ‘Trading and Clearing’ category with minimum net worth and net capital balance requirements for each of the categories.

https://epaper.brecorder.com/2020/01/14/20-page/819956-news.html

20 Business Recorder
18.

Auto industry comes under fire in Senate

The local car industry came under fire in the Senate for assembling vehicles in the name of manufacturing, increasing prices without any checks and failing to maintain safety standards threatening lives of those who drive them.

https://epaper.dawn.com/DetailImage.php?StoryImage=14_01_2020_003_006

3 Dawn
19.

Auto sector troubles continue as car sales plunge 43pc

The first half of 2019-20 proved highly disappointing for the entire auto sector as car sales plunged by 43.2 per cent to 59,097 units, from 104,038 in same period last year.

https://epaper.dawn.com/DetailImage.php?StoryImage=14_01_2020_010_005

10 Dawn
  International News    
20.

Indonesia, UAE sign $23bn investment deals

Indonesia and the United Arab Emirates have struck nearly $23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said Monday.

https://epaper.brecorder.com/2020/01/14/13-page/819896-news.html

 

 

13 Business Recorder
21.

Germany, France to push EU to end shredding of male chicks

Berlin and Paris will join forces to end mass shredding of male chicks at the EU level by the end of 2021, agriculture ministers Julia Kloeckner and Didier Guillaume said Monday.

https://www.brecorder.com/2020/01/14/561456/germany-france-to-push-eu-to-end-shredding-of-male-chicks/

13 Business Recorder
22.

Cotton climbs to over 8-month peak ahead of US-China trade deal

ICE cotton futures rose on Monday, hitting a more than eight-month high, supported by optimism ahead of the signing of a Phase 1 US-China trade deal.

https://epaper.brecorder.com/2020/01/14/17-page/819935-news.html

17 Business Recorder
 

Editorial News

   
23.

A deeper look into textile industry’s proposals

It is very common for the textile industry to make its proposals for the consideration of government authorities almost on a regular basis.

https://epaper.brecorder.com/2020/01/14/18-page/819939-news.html

18 Business Recorder
24.

Food inflation rises to 22pc!

The Sensitive Price Index (SPI) for the first full week of 2020 ending on the 9th of January has been released by the Pakistan Bureau of Statistics (PBS).

https://epaper.brecorder.com/2020/01/14/18-page/819941-news.html

18 Business Recorder
25. Currency exchange rates

 

Countries

 

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

Rates

 

154.85

201.83

172.31

22.27

41.27

9 Business

Recorder

 

 

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