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Print - 2014-05-17
Police arrest 93 suspects

Police arrest 93 suspects

Karachi police on Friday claimed to have arrested around 93 alleged criminals in targeted raids and encounters in different areas of the metropolis during last 24 hours. According to police, some 84 targeted raids were conducted in different areas while t
Published 17 May, 2014 12:00am
PSMA clarification

PSMA clarification

A spokesman for Pakistan Sugar Mills Association (PSMA) has strongly condemned a statement made by MD Utility Stores Khaqan Murtaza. He said that MD USC does not understand the dynamics of sugar industry. As a matter of fact, sugar industry has been havin
Published 17 May, 2014 12:00am
Moderate earthquake hits Balochistan

Moderate earthquake hits Balochistan

A 5.1-magnitude earthquake struck Balochistan on Friday, but officials said there were no immediate reports of damage or casualties. The epicentre was close to the city of Sibi, at a depth of 71 kilometres (44 miles), a meteorological official, Mahwish Ah
Published 17 May, 2014 12:00am
Moderate earthquake hits Balochistan

Moderate earthquake hits Balochistan

A 5.1-magnitude earthquake struck Balochistan on Friday, but officials said there were no immediate reports of damage or casualties. The epicentre was close to the city of Sibi, at a depth of 71 kilometres (44 miles), a meteorological official, Mahwish Ah
Published 17 May, 2014 12:00am
Government to launch 'Awami Insurance Scheme', National Assembly told

Government to launch 'Awami Insurance Scheme', National Assembly told

The government plans to launch "Awami Insurance Scheme" from July 1 this year to cover all Pakistani nationals residing in the age bracket of 25 years to 60 years. In a written reply to a question in the National Assembly on Friday, Minister for Commerce
Published 17 May, 2014 12:00am
Government to launch 'Awami Insurance Scheme', National Assembly told

Government to launch 'Awami Insurance Scheme', National Assembly told

The government plans to launch "Awami Insurance Scheme" from July 1 this year to cover all Pakistani nationals residing in the age bracket of 25 years to 60 years. In a written reply to a question in the National Assembly on Friday, Minister for Commerce
Published 17 May, 2014 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 17 May, 2014 12:00am
Government to launch ''Awami Insurance Scheme'', National Assembly told

Government to launch ''Awami Insurance Scheme'', National Assembly told

The government plans to launch "Awami Insurance Scheme" from July 1 this year to cover all Pakistani nationals residing in the age bracket of 25 years to 60 years. In a written reply to a question in the National Assembly on Friday, Minister for Commerce
Published 17 May, 2014 12:00am
Nato pullout plan: Cement export to Afghanistan falls by 17 percent

Nato pullout plan: Cement export to Afghanistan falls by 17 percent

The country's cement export to Afghanistan posted a big fall of 17 percent during this fiscal year because of the Nato plan of troops' withdrawal and continuing Afghan polls. "Afghanistan is one of the leading importing countries with a share of over 50 p
Published 17 May, 2014 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 17 May, 2014 12:00am
Nato pullout plan: Cement export to Afghanistan falls by 17 percent

Nato pullout plan: Cement export to Afghanistan falls by 17 percent

The country's cement export to Afghanistan posted a big fall of 17 percent during this fiscal year because of the Nato plan of troops' withdrawal and continuing Afghan polls. "Afghanistan is one of the leading importing countries with a share of over 50 p
Published 17 May, 2014 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 May, 2014 12:00am
Nato pullout plan: Cement export to Afghanistan falls by 17 percent

Nato pullout plan: Cement export to Afghanistan falls by 17 percent

The country''s cement export to Afghanistan posted a big fall of 17 percent during this fiscal year because of the Nato plan of troops'' withdrawal and continuing Afghan polls. "Afghanistan is one of the leading importing countries with a share of over 50
Published 17 May, 2014 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 May, 2014 12:00am
Insider trading: former SAC manager gets 42 months in jail

Insider trading: former SAC manager gets 42 months in jail

A federal judge Friday sentenced Michael Steinberg, a former portfolio manager for SAC Capital, to 42 months in prison following his conviction for insider trading. US Judge Richard Sullivan imposed a sentence longer than the 24 months sought by Steinberg
Published 17 May, 2014 12:00am
Insider trading: former SAC manager gets 42 months in jail

Insider trading: former SAC manager gets 42 months in jail

A federal judge Friday sentenced Michael Steinberg, a former portfolio manager for SAC Capital, to 42 months in prison following his conviction for insider trading. US Judge Richard Sullivan imposed a sentence longer than the 24 months sought by Steinberg
Published 17 May, 2014 12:00am
Insider trading: former SAC manager gets 42 months in jail

Insider trading: former SAC manager gets 42 months in jail

A federal judge Friday sentenced Michael Steinberg, a former portfolio manager for SAC Capital, to 42 months in prison following his conviction for insider trading. US Judge Richard Sullivan imposed a sentence longer than the 24 months sought by Steinberg
Published 17 May, 2014 12:00am
Insider trading: former SAC manager gets 42 months in jail

Insider trading: former SAC manager gets 42 months in jail

A federal judge Friday sentenced Michael Steinberg, a former portfolio manager for SAC Capital, to 42 months in prison following his conviction for insider trading. US Judge Richard Sullivan imposed a sentence longer than the 24 months sought by Steinberg
Published 17 May, 2014 12:00am
US MIDDAY: coffee drops

US MIDDAY: coffee drops

Arabica coffee futures slid 4 percent in thin dealings on Friday as dealers locked in gains after the prior session's surge driven by a downward revision of production estimates by Brazil's crop supply agency. Raw sugar futures on ICE Futures US eased as
Published 17 May, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
US MIDDAY: wheat extends losing streak

US MIDDAY: wheat extends losing streak

US wheat futures fell for the eighth straight session on Friday, on track for their longest losing streak since June, due to poor demand for US offerings on the export market despite the streak of declines. "There is not a lot of business being done," sai
Published 17 May, 2014 12:00am
Gold below $1,300; platinum eyes biggest week in 3 months

Gold below $1,300; platinum eyes biggest week in 3 months

Gold struggled below $1,300 an ounce on Friday, as data indicating brighter prospects for the US economy reinforced the view that the Federal Reserve will maintain its pace of stimulus tapering. Platinum was headed for its biggest weekly gain in three mon
Published 17 May, 2014 12:00am
Gold below $1,300 in Asian trade

Gold below $1,300 in Asian trade

Gold struggled below $1,300 an ounce on Friday as US jobs and factory data indicated brighter prospects for the economy, hurting the metal's appeal as an investment hedge. Platinum was headed for its best weekly gain in three months on supply worries from
Published 17 May, 2014 12:00am
Palm snaps four days of gains as investors bank profits

Palm snaps four days of gains as investors bank profits

Malaysian palm oil futures snapped a four-day gaining streak on Friday as investors booked profits ahead of the weekend, although optimism that festival-driven consumption will bolster exports of the vegetable oil capped losses. The benchmark August contr
Published 17 May, 2014 12:00am
Egypt's GASC buys 60,000 tonnes of Ukraine wheat

Egypt's GASC buys 60,000 tonnes of Ukraine wheat

Egypt, one of the world's largest importers of wheat, bought 60,000 tonnes of Ukrainian wheat for shipment on June 20-30, the main government wheat-buying entity said on Friday. Mamdouh Abdel Fattah, vice chairman of the General Authority of Supply Commod
Published 17 May, 2014 12:00am
THE RUPEE: firm trend

THE RUPEE: firm trend

Firmness prevailed on the money market on Friday as the national currency managed to recover some solid grounds in relation to the dollar, dealers said. The rupee gained 12 paisa versus the dollar for buying and selling at 98.52 and Rs 98.54, dealers said
Published 17 May, 2014 12:00am
THE RUPEE: firm trend

THE RUPEE: firm trend

Firmness prevailed on the money market on Friday as the national currency managed to recover some solid grounds in relation to the dollar, dealers said. The rupee gained 12 paisa versus the dollar for buying and selling at 98.52 and Rs 98.54, dealers said
Published 17 May, 2014 12:00am
Tokyo rubber future rise 0.9 percent

Tokyo rubber future rise 0.9 percent

Benchmark Tokyo rubber futures rose 0.9 percent this week, closing at the psychological level of 200 yen, but sentiment was weak, reflecting a stronger yen and amid an outlook of more supplies, dealers said on Friday. On Friday, the benchmark rubber contr
Published 17 May, 2014 12:00am
Oil prices rise as Libyan output squeezed

Oil prices rise as Libyan output squeezed

Global oil prices rose on Friday as investors worried about Libya after a recovery in the Opec country's oil supply proved short-lived and government forces clashed with Islamist militias. Libya's El Feel oilfield was shut again by protests and the El Sha
Published 17 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Nickel rebounds after falls, copper set for weekly rise

Nickel rebounds after falls, copper set for weekly rise

Nickel prices rose on Friday, shaking off the steep losses seen in the previous two sessions as investors refocused on shrinking supplies, while copper was on track to post its biggest weekly gains in nearly two months on robust demand. Since Indonesia ba
Published 17 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Shanghai copper faces resistance

Shanghai copper faces resistance

Shanghai copper faces a strong resistance at 48,570 yuan per tonne and may hover below this level or retrace to a support at 47,530 yuan. The support and the resistance are provided by the 50 percent and the 61.8 percent Fibonacci retracements on the fall
Published 17 May, 2014 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Cotton futures fall as weak US equities

Cotton futures fall as weak US equities

Cotton futures fell on Thursday, as widespread selling in US equities and agricultural commodity markets more than offset an encouraging cotton weekly export sales report, traders said. The most-active July cotton contract on ICE Futures US closed down 0.
Published 17 May, 2014 12:00am
Coffee slides after rally, sugar eases

Coffee slides after rally, sugar eases

Arabica coffee futures slid on Friday as dealers locked in gains after the prior session's 7 percent rally driven by a downward revision of production estimates by Brazil's crop supply agency. Raw sugar futures on ICE eased, underpinned by expectations th
Published 17 May, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
South Korean president apologises to ferry disaster relatives

South Korean president apologises to ferry disaster relatives

President Park Geun-Hye made a direct apology Friday to relatives of the victims of South Korea's ferry disaster and vowed to reform the country's safety standards from scratch. "I apologise again for the government's insufficient response," Park said at
Published 17 May, 2014 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (May 16, 2014) and for Saturday (May 17, 2014).
Published 17 May, 2014 12:00am
Obama's NSA spying reforms fail to satisfy cyber experts

Obama's NSA spying reforms fail to satisfy cyber experts

Obama administration actions to change some of the National Security Agency's surveillance practices after the leaks of classified documents by contractor Edward Snowden are falling short of what many private cyber experts want. Top government experts tol
Published 17 May, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Twelve killed as Libyan militia clashes in Benghazi

Twelve killed as Libyan militia clashes in Benghazi

Libyan irregular forces backed by helicopters clashed with Islamist militias in Benghazi on Friday in fighting that left at least 12 people dead and posed a new test to the country's fragile government. Irregulars of the self-declared Libyan National Army
Published 17 May, 2014 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 13, 2014.

Published 17 May, 2014 12:00am
UN study finds peacekeepers avoid using force to protect civilians

UN study finds peacekeepers avoid using force to protect civilians

United Nations peacekeeping missions routinely avoid using force to protect civilians who are under attack, intervening in only 20 percent of cases despite being authorised to do so by the UN Security Council, an internal UN study found. "There is a persi
Published 17 May, 2014 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 13, 2014.

Published 17 May, 2014 12:00am
Ten dead, more than 70 wounded in Nairobi blasts

Ten dead, more than 70 wounded in Nairobi blasts

Ten people were killed and over 70 wounded Friday in two bomb attacks in a busy market in the Kenyan capital Nairobi, the latest in a wave of unrest blamed on Islamist militants. The twin bombings came as hundreds of British tourists were being evacuated
Published 17 May, 2014 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 13, 2014.

Published 17 May, 2014 12:00am
China defiant as US warns over sea row with Vietnam

China defiant as US warns over sea row with Vietnam

An unrepentant China on Friday defended its actions in disputed Asian waters amid warnings of war with Vietnam, as Washington voiced "serious concern" after riots left two Chinese workers dead and more than 100 injured. Vietnam has been shaken by its wors
Published 17 May, 2014 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 17 May, 2014 12:00am
US issues warning at nuclear talks, Iran sees 'excessive demands'

US issues warning at nuclear talks, Iran sees 'excessive demands'

Iran and six world powers are making little progress in arduous talks on ending their dispute over Tehran's nuclear programme, a senior US official said on Friday, fanning doubt about the prospects for a breakthrough by a self-imposed July deadline. Tehra
Published 17 May, 2014 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 17 May, 2014 12:00am
Colombian rebels announce cease-fire for presidential vote

Colombian rebels announce cease-fire for presidential vote

Colombia's leftist FARC rebels declared a unilateral cease-fire from May 20 to May 28, a period including the May 25 presidential election, as the guerrillas and the government continued peace talks in Havana on Friday. "We are ordering all of our units t
Published 17 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Five challenges for Modi's new Indian government

Five challenges for Modi's new Indian government

A landslide election victory for Narendra Modi's Bharatiya Janata Party (BJP) has created euphoria in India's financial markets, driving shares to life-time highs and the rupee to its strongest level against the dollar in 11 months. After a decade in oppo
Published 17 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (May 16, 2014).

Published 17 May, 2014 12:00am
Cisco's strong US sales, popular Nexus product raise revenue

Cisco's strong US sales, popular Nexus product raise revenue

Network equipment maker Cisco Systems Inc posted a shallower-than-expected 5.5 percent drop in quarterly revenue, as recovering demand in regions like the United States and Northern Europe helped offset sluggish sales in emerging markets. The company post
Published 17 May, 2014 12:00am
The Weather

The Weather

The weather report on Friday (May 16, 2014) and the forecast for Saturday (May 17, 2014).

Published 17 May, 2014 12:00am
US housing starts up sharply; permits highest since 2008

US housing starts up sharply; permits highest since 2008

US housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope that the troubled housing market could be stabilising. The Commerce Department said on Friday groundbreaking increased 13.2 percent to a seas
Published 17 May, 2014 12:00am
Chinese state firms' profits grow faster in January-April

Chinese state firms' profits grow faster in January-April

Annual profit growth at China's state firms quickened in the first four months of 2014, official data showed on Friday, offering some encouraging signs as the world's second-largest economy loses growth momentum. State-owned, non-financial companies made
Published 17 May, 2014 12:00am
GM fined record $35 million over delay to ignition recall

GM fined record $35 million over delay to ignition recall

The US car safety regulator imposed a record $35 million fine on General Motors on Friday for its slow efforts to report faulty ignitions in its cars that contributed to at least 13 deaths. The National Highway Traffic Safety Administration hit GM with it
Published 17 May, 2014 12:00am
Alitalia halts Venezuela flights due to currency controls

Alitalia halts Venezuela flights due to currency controls

Italian airline Alitalia said on Friday it was suspending flights to Venezuela from June 2 because of the "critical situation" linked to currency controls in the country. "Alitalia has decided to suspend its Rome-Caracas service temporarily," the airline
Published 17 May, 2014 12:00am
Sweden fights back as Pfizer move on Astra threatens jobs

Sweden fights back as Pfizer move on Astra threatens jobs

The Swedish government launched a fightback on Friday against US drugmaker Pfizer's proposed take-over of AstraZeneca, which has half its roots and more than 5,000 staff in Sweden, highlighting the risks to jobs and science. In an unusual move for the cen
Published 17 May, 2014 12:00am
Egypt could tap global bond market after political transition: minister

Egypt could tap global bond market after political transition: minister

Egypt could tap global bond markets after presidential elections due May 26-27, but should the country be in dire need, it could seek aid from its wealthy Gulf neighbours, finance minister Hany Kadiri Dimian said on Friday. Political turmoil following the
Published 17 May, 2014 12:00am
Egypt could tap global bond market after political transition: minister

Egypt could tap global bond market after political transition: minister

Egypt could tap global bond markets after presidential elections due May 26-27, but should the country be in dire need, it could seek aid from its wealthy Gulf neighbours, finance minister Hany Kadiri Dimian said on Friday. Political turmoil following the
Published 17 May, 2014 12:00am
Climate change will hit nations' creditworthiness: S&P

Climate change will hit nations' creditworthiness: S&P

Global warming will pressure sovereign credit ratings throughout this century with poorer, lower-rated countries hardest hit, Standard & Poor's (S&P) Ratings Services said in a report. S&P said climate change will be the 21st Century's second global "mega
Published 17 May, 2014 12:00am
Italy approves sale plans for post office, air traffic control

Italy approves sale plans for post office, air traffic control

The Italian government approved plans on Friday to sell stakes of up to 40 percent in Poste Italiane, the national post office, and of 49 percent in state-owned air traffic control operator Enav SpA. The sales, announced last year, are part of a broad pri
Published 17 May, 2014 12:00am
Obama names new deputy chief of staff to oversee healthcare

Obama names new deputy chief of staff to oversee healthcare

President Barack Obama has named a new deputy chief of staff, Kristie Canegallo, to oversee implementation of his trademark healthcare law and other policy efforts, the White House said on Friday. The new position was created out of frustration within the
Published 17 May, 2014 12:00am
Loadshedding won't end by 2018: Asif

Loadshedding won't end by 2018: Asif

Federal Minister for Water and Power Khawaja Muhammad Asif on Friday said that loadshedding in the country would not end by 2018, however, it would decrease gradually. Talking to reporters, he said that Pakistan was incurring Rs 1,000 billion annual loss
Published 17 May, 2014 12:00am
'NH&MP introduces disciplined traffic culture'

'NH&MP introduces disciplined traffic culture'

Deputy Inspector General, National Highways & Motorway Police (NH&MP) , N-5 North Zone, Muhammad Zubair Hashmi, said that Motorway Police is a remarkable institute of Pakistan who has introduced a disciplined traffic culture in the country. The officers o
Published 17 May, 2014 12:00am
Punjab government to pay Wapda dues in June: spokesman

Punjab government to pay Wapda dues in June: spokesman

A spokesman of Punjab government has said that provincial government under a mutual agreement will pay Wapda dues in June this year. The Ministry of Water and Power has been pressing the provincial governments and autonomous bodies to clear their dues of
Published 17 May, 2014 12:00am
Former KCCI chief asks government to block prepaid, unregistered SIMs

Former KCCI chief asks government to block prepaid, unregistered SIMs

A former president of Karachi Chamber of Commerce and Industry (KCCI) and a leader of Businessmen Group, Siraj Kassim Teli, demanded of the government to block all prepaid and un-registered SIMs (Subscriber Identification Module without any delay. He also
Published 17 May, 2014 12:00am
SBP urged to cut key discount rate to 7 percent

SBP urged to cut key discount rate to 7 percent

Industrialists and trader bodies have suggested to State Bank of Pakistan (SBP) to bring down the discount rate to around 6 to 7 percent. They were of the opinion that the SBP should prepare monetary policy keeping in view of the facts that reserves have
Published 17 May, 2014 12:00am
Government asked to make viable economic policies

Government asked to make viable economic policies

All Karachi Tajir Ittehad Chairman Atiq Mir has termed the first year of the PML-N government a 'depressed year' for the country's small businesses, saying that the next fiscal budget should be business-friendly. Talking to Business Recorder here o
Published 17 May, 2014 12:00am
Three cops among seven hurt in Bannu blast

Three cops among seven hurt in Bannu blast

At least seven people were injured on Friday when a bomb exploded near a police vehicle on Railway Road in Bannu district. Three policemen were also among the wounded. Rescue teams immediately reached the site of the incident and shifted the injured to a
Published 17 May, 2014 12:00am
USAID congratulates dairy farmers

USAID congratulates dairy farmers

The US Agency for International Development's (USAID) Entrepreneurs Project on Friday in Karachi held a project close-out ceremony marking the successful completion of Women Empowerment through Livestock Development (WELD) - part of USAID's Dairy Value Ch
Published 17 May, 2014 12:00am
OICCI concerned at appalling decline in tax-to-GDP ratio

OICCI concerned at appalling decline in tax-to-GDP ratio

Overseas Investors Chambers of Commerce and Industry (OICCI) has noted with grave concern that despite several legislative measures to make the laws more robust and enforcement more effective, tax-to-GDP ratio is continuously declining, from 13 percent in
Published 17 May, 2014 12:00am
Ufone extends support to Tharparkar victims

Ufone extends support to Tharparkar victims

Pakistan's premier telecom operator, Ufone, pursuing its tradition of being there for Pakistanis in crisis has carried out a relief activity for the famine hit areas of Tharparkar, to help ease the pain of the affected people by the disastrous famine.
Published 17 May, 2014 12:00am
FIA arrests two persons

FIA arrests two persons

FIA immigration staff on Friday arrested one Ubaidullah on his return from Greece. Ubaidullah proceeded to Greece via illegal land route in 2006 through agent Sarfraz Ahmad against Rs 350,000. It may be noted that Ubaidullah during his stay in Greece obta
Published 17 May, 2014 12:00am
Hakim Said memorial lecture held

Hakim Said memorial lecture held

Professor Dr Attaur Rehman former federal minister of science & technology said that today's world is the world of inventions, discoveries and knowledge-based economy and to pace with the world Pakistan has to prepare its manpower according to the need of
Published 17 May, 2014 12:00am
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