Business

ISLAMABAD: Shahid Salim Khan on Monday assumed his charge as a managing director (MD) and chief executive officer (CEO) of Oil and Gas Development Company Limited (OGDCL), ARY News reported. The Oil and Gas Development Company Limited (OGDCL) had appointed Shahid Salim Khan as the company?s new Managing Director and Chief Executive Officer after the federal cabinet approved the appointment of Shahid Salim as new MD/CEO.

SYDNEY: Asian stocks extended a global selloff on Tuesday as China took more drastic steps to combat a deadly new coronavirus, while bonds shone on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. As the death toll reached 106 in China, some health experts questioned whether Beijing can contain the virus which has spread to more than 10 countries, including France, Japan and the United States.

Photo: File The rupee is likely to maintain its position against the dollar next week after an improvement in inflows in debt securities and sluggish demand for the foreign currency for import payments, reported The News. According to the State Bank of Pakistan (SBP), foreign participants invested close to $2.5 billion in Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) during July 1, 2019 to January 23, 2020.

KARACHI: Gold rates rose by Rs600 to Rs91,500 per tola in the domestic market on Monday, ARY News reported. Similarly, price of 10 grams of yellow metal saw an increase of Rs514 and traded at Rs78,446. Rates of silver also edged up 15 rupees to 1,030 rupees per tola, according to Muhammad Arshad, chairman of All Pakistan Jewellers Association.

KARACHI: Assuring the business community of his full support, Prime Minister Imran Khan on Monday vowed to address all the reservations of traders, ARY News reported. Addressing a press conference following a meeting of PM Imran with representatives of the business community, Special Assistant to the Prime Minister Firdous Ashiq Awan said that the government is committed for ease of doing business in the country.

KARACHI: Pakistan Stock Exchange (PSX) on Monday witnesses bearish trend as KSE-100 index closed at 42539 points with a negative change of 93 points, ARY News reported. A total of 198,479,790 shares were traded, whereas the value of shares traded during the day stood at Rs 6.566 billion as compared to Rs 6.726

Photo: File KARACHI: Close to 400 million gallons of untreated sewage water is being dumped in sea daily, as the 12-year-old S-III project is yet to be completed, reported The News on Monday. Provincial Minister for Local Government Nasir Hussain Shah, when asked about the issue, claimed that the delay in the project was not only from the Sindh government?s side.

ISLAMABAD: Preparations are underway to give final touches to the launch of Ehsaas Kifalat programme which will be inaugurated by Prime Minister Imran Khan on January 31. The Ehsaas digital payment system is an important competent of Kifalat programme. Procurement of the system was completed in a transparent manner last year.

KARACHI: The Pakistan Stock Exchange (PSX) witnessed bearish trend as 100-Index lost 534 points during last week trading, ARY News reported on Saturday. The 100-Index was closed at the level of 42,633 points during the trading week which begun on Monday and ended on Friday. According to the weekly report, the market capitalization with the decrease of rs.

KARACHI: The Pakistani rupee remained stable against the US dollar in the interbank currency market during the outgoing week, ARY News reported on Saturday. According to a weekly report, the local currency settled at 154.56 against the greenback. However, the rupee ended slightly weaker against the dollar in the open market, finishing at 155 against the last week?s closing of 154.80.