Important Business News 4th November, 2019

Important Business News

4th November, 2019

 

S.# Description Pg # Source
1.

External debt sustainability

Indicators show Deterioration

Pakistan’s external debt sustainability indicators are showing deterioration in debt bearing capacity due to higher external debt and liabilities to GDP ratio.

https://epaper.brecorder.com/2019/11/04/1-page/808671-news.html

 

1 Business Recorder
2.

Saudi Aramco kick-starts what could be world’s biggest IPO

Saudi Arabia/DUBAI: Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdom seeks to diversify its economy away from oil. https://epaper.brecorder.com/2019/11/04/1-page/808668-news.html

 

1 Business Recorder
 

3.

Positive trend witnessed

 Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on November 1, 2019 on the back of healthy buying in various sectors.

https://epaper.brecorder.com/2019/11/04/1-page/808669-news.html

 

1 Business Recorder
4. Over 2400 Pakistani prisoners freed from Saudi Arabia UAE

There were 2,521 Pakistanis facing jail terms in UAE.

More than 2,400 Pakistani prisoners, languishing in jails of Saudi Arabia and the UAE, have been released during the last one year due to efforts of Pakistan Tehreek-e-Insaf (PTI) government.

https://www.khaleejtimes.com/international/pakistan/over-2400-pakistani-prisoners-freed-from-saudi-uae

3 Business Recorder
5.

FY 2015-16: AGP detects Rs 6.196 billion loss in KP Energy & Power Dept’s accounts

The Auditor General of Pakistan (AGP) has detected a loss of Rs6.196 billion in the Energy and Power Department of Khyber Pakhtunkhwa in eight different cases during financial year 2015-16, according to Audit Report on the accounts of Khyber Pakhtunkhwa conducted during the year 2016-17.

https://www.brecorder.com/2019/11/04/541178/fy-2015-16-agp-detects-rs-6196-billion-loss-in-kp-energy-power-depts-accounts/

 

3 Business Recorder
6.

Punjab government changes name of ‘patwari’ post to ‘village officer’

Punjab Chief Minister Usman Buzdar has approved to give the designation of Village Officers to “Patwaris” by promoting them to grade-14.

https://www.brecorder.com/2019/11/04/541181/punjab-government-changes-name-of-patwari-post-to-village-officer/

 

3 Business Recorder
7.

Textile export sector

 ‘Rs189bn refund claims erode financial viability’
Pending refund claims of Rs 189 billion have eroded the financial viability of textile export sector which is tantamount to butcher the only available “Golden Egg Laying Hen” in addition to expected unemployment which will trigger a new wave of lawlessness amid prevailing complex and highly volatile political mess in the country.

https://epaper.brecorder.com/2019/11/04/13-page/808750-news.html

 

13 Business Recorder
8.

Abu Dhabi’s Expo 2020

PM expresses unwillingness to approve $50m participation cost

Pakistan is likely to withdraw its participation in Abu Dhabi’s Expo 2020 reportedly due to financial constraints and the Prime Minister has expressed his unwillingness to approve around $ 50 million participation cost of this event, well informed sources in Trade Development Authority of Pakistan (TDAP) from Karachi told Business Recorder.

https://epaper.brecorder.com/2019/11/04/13-page/808755-news.html

 

13 Business Recorder
9.

COTTON REVIEW

Rate increases by Rs 200 to Rs 300

The rate of cotton increased by Rs 200 to Rs 300. The rate of Prime Mark and Balochi cotton has reached Rs 10,000 per mound which is at highest level in nine years. The rate of good quality Phutti reached at the highest level of Rs 5000 per 40 kg. Up till now agreements for the import of 28 lac cotton bales had signed.

https://epaper.brecorder.com/2019/11/04/13-page/808757-news.html

 

13 Business Recorder
10.

NPCC accused of giving preference to inefficient power plants

National Electric Power Regulatory Authority (Nepra) has accused National Power Control Centre (NPCC) of giving preference to inefficient power plants due to which the consumers are paying billions of rupees extra for purchase of power.

https://www.brecorder.com/2019/11/04/541153/npcc-accused-of-giving-preference-to-inefficient-power-plants/

 

16 Business Recorder
11.

Huawei pushes 5G in SEAsia, brushing off ‘tech war’ with US

Chinese phone giant Huawei said Sunday it was ready to roll out 5G infrastructure across Southeast Asia, dismissing US warnings its tech could be used to hoover up data for Beijing.

https://www.brecorder.com/2019/11/04/541174/huawei-pushes-5g-in-seasia-brushing-off-tech-war-with-us-2/

 

16 Business Recorder
12.

Pakistan rejects maps showing AJK, GB as parts of India

Pakistan on Sunday rejected as incorrect and legally untenable the political maps of India issued by the country’s home ministry displaying the disputed Jammu and Kashmir region and seeking to depict parts of Gilgit-Baltistan and Azad Jammu and Kashmir within the territorial jurisdiction of India.

https://www.dawn.com/news/1514711/pakistan-rejects-maps-showing-ajk-gb-as-parts-of-india

 

1 Dawn
13.

China keen to invest in Halal meat industry

Leader of a Chinese delegation Zhu Maa has shown interest in investing in Halal meat industry in Pakistan and exporting it to China and Middle Eastern countries.

https://www.dawn.com/news/1514725

 

3 Dawn
 

Editorial

   
14.

FBR reforms to create liquidity issues

The recently-released State Bank of Pakistan (SBP) annual report states that structural reforms introduced by the Federal Board of Revenue (FBR) for documenting business currently operating outside the income tax net (though they are paying across the board 17 percent sales tax) may create liquidity issues and thereby adversely affect overall economic activity in the short-term. The logic employed is fairly well-established in economic theory.

https://www.brecorder.com/2019/11/04/541184/fbr-reforms-to-create-liquidity-issues/

 

14 Business Recorder
15.

Cotton ‘SOS’

It may not be any exaggeration to say that the economy of Pakistan revolves around cotton and its products to a great extent.

https://www.brecorder.com/2019/11/04/541185/cotton-sos/

 

14 Business Recorder
16.

State of economy

THE last fiscal year was one of the toughest for Pakistan, and the challenges are far from over. This is the gist of the annual report just released by the State Bank of Pakistan regarding FY2019.

https://www.dawn.com/news/1514755

 

6 Dawn
17. Currency exchange rates

Countries

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

$

£

¥

﷼, SR

Rates

155.10

201.99

174.44

22.33

41.42

  Business

Recorder

 

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