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Print - 2014-05-23
Message from Chairman PTA

Message from Chairman PTA

In the continuous wave of development and globalisation the role of telecommunication technologies is getting crucial day by day. One cannot underestimate the value of sustained development of telecommunication technology. The society cannot be developed
Published 23 May, 2014 12:00am
Message from Federal Secretary

Message from Federal Secretary

I extend my warm felicitations to all the stakeholders on the occasion of award of 3G/4G Licenses and celebrating World Telecom and Information Society Day (WTISD) 2014. Ministry of IT & Telecom is fully determined to transform the socio-economic landscap
Published 23 May, 2014 12:00am
Message from Minister of IT

Message from Minister of IT

On the occasion of 149th World Telecommunication and Information Society Day, I would like to congratulate the International Telecommunication Union (ITU) for its efforts in successfully laying the foundations of a just, equitable and people-centered info
Published 23 May, 2014 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

World Telecom and Information Society (WTIS) Day is being celebrated worldwide today with the theme of "Broadband for Sustainable Development". This year's theme directly relates to Pakistan, where our present Government has successfully auctioned spectru
Published 23 May, 2014 12:00am
Message from President of Pakistan

Message from President of Pakistan

Today marks the 149th anniversary of the establishment of International Telecommunication Union (ITU). The ITU has played a commendable role for the promotion of telecommunication around the globe by undertaking various co-operation and support activities
Published 23 May, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Thursday at Pakistan Mercantile Exchange (PMEX) value traded increased by 4.86 percent to PKR 3,075 million from PKR 2,933 million on Wednesday. Number of lots traded was reported at 13,214 and PMEX Commodity Index closed at 3,024. Major business was c
Published 23 May, 2014 12:00am
Iraq buys 150,000 tonnes of Russian wheat

Iraq buys 150,000 tonnes of Russian wheat

Iraq's state grains board has bought a total 150,000 tonnes of hard wheat to be sourced from Russia in a tender which closed this week, European traders said on Wednesday. The tender sought shipment from August 1 to August 31 with delivery between Septemb
Published 23 May, 2014 12:00am
US wheat ends lower

US wheat ends lower

US wheat futures closed mostly lower on Wednesday on weak export demand for high-priced US wheat amid plentiful global supplies, traders said. Also bearish were forecasts for rains late this week in the southern Plains that could benefit crops in a few ar
Published 23 May, 2014 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures settled higher on Wednesday for a third straight session, boosted by steep gains in soybean futures at the Chicago Board of Trade, traders said. Cool weather and a slow pace of seeding in the Canadian Prairies added support, al
Published 23 May, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 188,903 tonnes of cargo comprising 163,463 tonnes of import cargo and 25,440 tonnes of export cargo including 5,359 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 1
Published 23 May, 2014 12:00am
Oil cake market rates

Oil cake market rates

The May delivery was unchanged while the July vaida was slightly lower on the forward cottonseeds oilcake market on Thursday in the process of trading, dealers said. The May contract closed at Rs 1752.00 and it commenced with no change in the morning sess
Published 23 May, 2014 12:00am
Prices firm amid improved activity

Prices firm amid improved activity

Steadier trend was witnessed on the cotton market on Thursday in the process of improved business, dealers said. The official spot rate stabilised, showing no change in overnight price at Rs 6,900, they added. In the ready session, around 6000 bales of co
Published 23 May, 2014 12:00am
Prices display firm posture on cotton market

Prices display firm posture on cotton market

Cotton prices on the domestic market have displayed a firm posture since the last fortnight as unsold ready stocks from the current season (2013 / 2014) are just around a couple of 100,000 bales. Ginners are said to be tight sellers because new crop cotto
Published 23 May, 2014 12:00am
Prices display firm posture on cotton market

Prices display firm posture on cotton market

Cotton prices on the domestic market have displayed a firm posture since the last fortnight as unsold ready stocks from the current season (2013 / 2014) are just around a couple of 100,000 bales. Ginners are said to be tight sellers because new crop cotto
Published 23 May, 2014 12:00am
Kenyan top grade tea price rises

Kenyan top grade tea price rises

The highest price for top grade Kenyan tea rose to $3.06 per kg at this week's auction compared with $2.90 per kg at last week's sale, Tea Brokers East Africa said on Wednesday. Kenya is the world's leading exporter of black tea. The crop is a top foreign
Published 23 May, 2014 12:00am
Modest business on grain market

Modest business on grain market

Prices moved both ways on the wholesale grain market on Thursday in the process of modest trading, dealers said. On the cereals side, Makai on the back of strong buying gained Rs 125 to Rs 2750 and 2775, Moong Punjab, however, lost Rs 2000 to Rs 11000, Mo
Published 23 May, 2014 12:00am
US home sales rebound; jobless claims rise

US home sales rebound; jobless claims rise

US home resales rose in April and the supply of properties on the market hit its highest level since August 2012, hopeful signs for the stalled housing market recovery. Other data on Thursday showed a jump in first-time applications for unemployment benef
Published 23 May, 2014 12:00am
Islamic finance looks to shake off sukuk pricing hitch

Islamic finance looks to shake off sukuk pricing hitch

Islamic finance has been one of the fastest-growing sectors in global finance but the industry has yet to shake off perceptions about high costs and complexity that are holding back some issuers. Sukuk, or Islamic bonds that follow religious principles su
Published 23 May, 2014 12:00am
Islamic finance looks to shake off sukuk pricing hitch

Islamic finance looks to shake off sukuk pricing hitch

Islamic finance has been one of the fastest-growing sectors in global finance but the industry has yet to shake off perceptions about high costs and complexity that are holding back some issuers. Sukuk, or Islamic bonds that follow religious principles su
Published 23 May, 2014 12:00am
China announces restricted capital account opening steps in Shanghai FTZ

China announces restricted capital account opening steps in Shanghai FTZ

China's central bank announced measures on Thursday to create a closely managed opening in the country's capital account for the Shanghai free trade zone (FTZ) in a cautious but critical step towards allowing full convertibility of China's currency. The m
Published 23 May, 2014 12:00am
China opens multilateral approach to Africa with $2 billion fund

China opens multilateral approach to Africa with $2 billion fund

China and the African Development Bank (AfDB) agreed Thursday a co-financing fund worth $2 billion over 10 years, a multilateral deal signalling a shift in Beijing's policy of dealing direct with countries. The deal, Beijing's latest economic push on the
Published 23 May, 2014 12:00am
China opens multilateral approach to Africa with $2 billion fund

China opens multilateral approach to Africa with $2 billion fund

China and the African Development Bank (AfDB) agreed Thursday a co-financing fund worth $2 billion over 10 years, a multilateral deal signalling a shift in Beijing's policy of dealing direct with countries. The deal, Beijing's latest economic push on the
Published 23 May, 2014 12:00am
US factory data upbeat, eurozone business stays strong

US factory data upbeat, eurozone business stays strong

US manufacturing growth picked up to a three-month high in May, while private business activity in the eurozone grew at just under its fastest pace in three years, surveys showed on Thursday. In Asia, China's factory sector turned in its best performance
Published 23 May, 2014 12:00am
Turkey springs rate cut, says risks ease, policy still tight

Turkey springs rate cut, says risks ease, policy still tight

Turkey's central bank on Thursday cut one of the interest rates in its armoury of defences against crises, saying that uncertainty and risk had fallen. The bank cut its one week repurchase rate, used by commercial banks for short-term funding, from 10.0 p
Published 23 May, 2014 12:00am
Stronger household spending and investment drive UK first quarter growth

Stronger household spending and investment drive UK first quarter growth

Britain's households spent more and companies increased investment at the fastest pace in a year, extending the country's strong economic growth into the first three months of 2014, official data showed on Thursday. The figures offer some signs that Brita
Published 23 May, 2014 12:00am
Key Russian economic forum opens amid worries, Western no-shows

Key Russian economic forum opens amid worries, Western no-shows

President Vladimir Putin's showcase economic forum opened in his hometown on Thursday amid worrying times for Russia's economy and pullouts by Western business chiefs over the crisis in Ukraine. Fresh from signing a huge $400 billion gas deal this week wi
Published 23 May, 2014 12:00am
Canada's retail sales slip from record high

Canada's retail sales slip from record high

Canadian retail sales unexpectedly slipped in March from February on lower car and clothing sales, adding to growing evidence that economic growth slowed in the first quarter of this year. Retailers reported a 0.1 percent drop in sales versus market expec
Published 23 May, 2014 12:00am
Australian consumer sentiment falls

Australian consumer sentiment falls

A measure of Australian consumer sentiment slumped in May to the lowest in over two years as households fretted about their own finances a week after the government unveiled a string of spending cuts and new levies in a tough fiscal budget. The survey of
Published 23 May, 2014 12:00am
China's GDP growth may fall to five percent by 2017

China's GDP growth may fall to five percent by 2017

A researcher at an influential think-tank linked to China's state cabinet has predict economic growth could slow to around 5 percent in the next two to three years, a forecast that contrasts with rosier official estimates. Ren Zeping, the deputy director
Published 23 May, 2014 12:00am
Netflix to make leap into France and Germany

Netflix to make leap into France and Germany

Netflix will launch in both France and Germany this year, the US video streaming company said on Wednesday, in the biggest test so far of its global expansion strategy. The move will set Netflix back in its goal of breaking even in its international busin
Published 23 May, 2014 12:00am
Rooney ready to deliver at World Cup

Rooney ready to deliver at World Cup

England striker Wayne Rooney said Thursday there would be no excuses if he failed to deliver for his country at the 2014 World Cup. Rooney broke through on the international stage at the 2004 European championships as an 18-year-old where his performances
Published 23 May, 2014 12:00am
ECB chief explains exit of 'frustrating' Pietersen

ECB chief explains exit of 'frustrating' Pietersen

England and Wales Cricket Board managing director Paul Downton gave his most detailed explanation yet on Thursday for the controversial decision to end the international career of the "frustrating" Kevin Pietersen. The South Africa-born batsman, England's
Published 23 May, 2014 12:00am
Fontaine to receive Golden Boot for 1958 exploits

Fontaine to receive Golden Boot for 1958 exploits

Former France star Just Fontaine will receive a belated Golden Boot for his single-tournament record of 13 goals scored at the 1958 World Cup at the FIFA Congress in Sao Paulo on June 11, he announced Thursday. "At the time, the "Golden Boot", didn't yet
Published 23 May, 2014 12:00am
ECB charge Vincent and Naveed Arif over fixing

ECB charge Vincent and Naveed Arif over fixing

The England and Wales Cricket Board have charged Lou Vincent and his former Sussex team-mate Naveed Arif with fixing the outcome of a county match, the governing body announced Thursday. Vincent, the former New Zealand batsman, who has already confessed t
Published 23 May, 2014 12:00am
Croatia donate World Cup cash to flood victims

Croatia donate World Cup cash to flood victims

Croatia's football squad have donated a quarter of their money earned for reaching the World Cup finals to victims of deadly floods that have devastated the Balkans. Members of Bosnia-Hercegovina's World Cup squad, led by star striker Edin Dzeko, have als
Published 23 May, 2014 12:00am
Amla to replace injured Smith at Surrey

Amla to replace injured Smith at Surrey

South Africa batsman Hashim Amla is to replace Graeme Smith at Surrey after the former Proteas captain was ruled out for the rest of the English season with a fractured right knee. Smith is now set to return to his native South Africa, with Gary Wilson ta
Published 23 May, 2014 12:00am
Nadal at crisis point as Djokovic looms

Nadal at crisis point as Djokovic looms

Rafael Nadal targets a ninth French Open title with his lethal claycourt game and enduring confidence facing their biggest crisis in a decade. The Spaniard, whose stirring comeback from a seventh-month injury lay-off was one of 2013's headline acts, boast
Published 23 May, 2014 12:00am
Gavaskar says bookies approached IPL players

Gavaskar says bookies approached IPL players

Batting legend Sunil Gavaskar revealed Thursday two cricketers were under investigation over possible corruption in this year's Indian Premier League, a T20 competition already reeling from betting and spot-fixing scandals. Gavaskar, who has been put in c
Published 23 May, 2014 12:00am
Bellamy announces retirement

Bellamy announces retirement

Former Manchester City and Liverpool striker Craig Bellamy announced his retirement on Thursday. Bellamy, who had been playing for his hometown club Cardiff City for the last two seasons, decided to hang up his boots after coming to the conclusion that hi
Published 23 May, 2014 12:00am
German FA plan to increase drugs testing

German FA plan to increase drugs testing

The German Football Association (DFB) say they plan to strengthen the fight against doping from next season by doubling the amount of blood tests. "In addition to urine tests, we will also be performing blood tests," DFB vice-president Rainer Koch told ra
Published 23 May, 2014 12:00am
PCB invites Sri Lanka to play in Pakistan

PCB invites Sri Lanka to play in Pakistan

Pakistan's restored cricket chief Najam Sethi said Thursday that his board is inviting Sri Lanka to play a home series, five years after they survived a terrorist attack. The move by the Pakistan Cricket Board (PCB) came two days after Sri Lankan Presiden
Published 23 May, 2014 12:00am
HBL, NUST sign agreement for online fees collection

HBL, NUST sign agreement for online fees collection

HBL, Pakistan's largest bank, recently signed an agreement with National University of Science and Technology for HBL Internet Payment Gateway. This solution will allow NUST to collect fees as well as endowment funds online on their own website, using any
Published 23 May, 2014 12:00am
Jubilee Life, Habib Metropolitan Bank sign agreement

Jubilee Life, Habib Metropolitan Bank sign agreement

Habib Metropolitan Bank, one of the top banks of Pakistan with its nationwide network of 260 branches across 62 urban and semi urban cities, will be introducing insurance and savings products designed by Jubilee Life to its customer base.
Published 23 May, 2014 12:00am
K-Electric demands Nepra to increase FAC: public hearing on May 28

K-Electric demands Nepra to increase FAC: public hearing on May 28

K-Electric has demanded of the National Electric Power Regulatory Authority (Nepra) to increase Fuel Adjustment Charges (FAC) for the months of November and December 2013, and January, February and March 2014. In order to consider the demand, the regulato
Published 23 May, 2014 12:00am
Khyber Pakhtunkhwa IGP assures rape victim of all legal assistance

Khyber Pakhtunkhwa IGP assures rape victim of all legal assistance

Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani has said all legal assistance would be provided to the gang raped victim and due punishment would be ensured to the rapists at all cost. He said this during his meeting with the raped
Published 23 May, 2014 12:00am
Site industrial area SAI, police launch traffic management plan

Site industrial area SAI, police launch traffic management plan

Site Association of Industry (SAI) and Traffic police have lunched a traffic management plan in Site industrial area to check traffic rules violations and make drivers to fallow tariff rules for ensuring smooth flow of traffic. Chairman SAI Younus M Bashi
Published 23 May, 2014 12:00am
Site industrial area SAI, police launch traffic management plan

Site industrial area SAI, police launch traffic management plan

Site Association of Industry (SAI) and Traffic police have lunched a traffic management plan in Site industrial area to check traffic rules violations and make drivers to fallow tariff rules for ensuring smooth flow of traffic. Chairman SAI Younus M Bashi
Published 23 May, 2014 12:00am
Smuggling of tyres causes: Rs 15 billion loss to exchequer annually

Smuggling of tyres causes: Rs 15 billion loss to exchequer annually

The Directorate General of Intelligence and Investigation Wing of Pakistan Customs has taken measures to curb smuggling of tyres in the country. Finance Minister Ishaq Dar, after recent media reports regarding huge loss of revenue due to the smuggling of
Published 23 May, 2014 12:00am
Happilac ConsChem gets 'Brand of the Year Award'

Happilac ConsChem gets 'Brand of the Year Award'

Brand of the Year Award ceremony has yet again paved its remarkable journey in embracing the marketing standings of prestigious brands by organising a spectacular award event hosted in Karachi recently. This year Happilac ConsChem a division of Happilac P
Published 23 May, 2014 12:00am
DuPont celebrates 25 years of success in Pakistan

DuPont celebrates 25 years of success in Pakistan

DuPont, a world leader in market-driven innovation and science, recently hosted a reception to celebrate 25 years of presence in Pakistan. The ceremony was attended by Ian Hudson, President DuPont Europe, the Middle East and Africa and Ghislain Desjardins
Published 23 May, 2014 12:00am
Government fails to spend FIF on insurance education

Government fails to spend FIF on insurance education

Despite charging one percent premium as Federal Insurance Fees (FIF) since 1989, the government has failed to spend a single penny on the promotion of insurance education in the country.
Published 23 May, 2014 12:00am
Siemens' delisting on the cards

Siemens' delisting on the cards

The talk of delisting of Siemens Pakistan has augmented the expectations of the shareholders. Market sources said Siemens Pak Engineering Company delisting is on the cards because of certain changes in the company's business strategy. Presently, the compa
Published 23 May, 2014 12:00am
Siemens' delisting on the cards

Siemens' delisting on the cards

The talk of delisting of Siemens Pakistan has augmented the expectations of the shareholders. Market sources said Siemens Pak Engineering Company delisting is on the cards because of certain changes in the company's business strategy. Presently, the compa
Published 23 May, 2014 12:00am
Securing rights focus of our politics: Elahi

Securing rights focus of our politics: Elahi

Pakistan Muslim League (PML) senior leader Chaudhry Parvez Elahi said that "we do not do politics merely for contesting elections as the focus and purpose of our politics was to secure rights of the people and rendering maximum service to the common and p
Published 23 May, 2014 12:00am
Australian and New Zealand dollar buoyed

Australian and New Zealand dollar buoyed

The Australian and New Zealand dollars regained some ground on their US counterpart on Thursday following a better-than-expected reading of China's factory activity and they bounced off multi-month lows against the yen. The HSBC Flash China Manufacturing
Published 23 May, 2014 12:00am
Yen slips in Asia

Yen slips in Asia

The yen eased versus the dollar on Thursday and edged away from a 3-1/2-month high, as a survey showing an improvement in Chinese factory activity helped bolster risk appetite and dampened demand for the safe haven currency. The dollar rose 0.3 percent to
Published 23 May, 2014 12:00am
Euro steadies, yen underperforms in London

Euro steadies, yen underperforms in London

Robust expansion in Germany and the eurozone's private sector helped the euro recover from recent lows on Thursday, although growing expectations that the ECB will ease monetary policy next week kept gains muted. Earlier, better-than-expected Chinese data
Published 23 May, 2014 12:00am
Early trade in New York: dollar rises against major currencies

Early trade in New York: dollar rises against major currencies

The US dollar rose against major currencies on Thursday as higher US bond yields revived appeal for the greenback, while the euro recovered from recent lows on upbeat economic data. The dollar's gains were limited by a bigger-than-expected rise in US week
Published 23 May, 2014 12:00am
Dollar climbs versus euro, yen in New York

Dollar climbs versus euro, yen in New York

The dollar rose against the euro and yen on Wednesday as the latest Federal Reserve meeting minutes suggested the US central bank will keep reducing its stimulus plan, while markets expected the European Central Bank to further ease monetary policy in the
Published 23 May, 2014 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 77.63-77.63 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).
Published 23 May, 2014 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee posted its biggest single-day rise in nearly a week after Reuters reported that India's finance ministry was working on a proposal to cut fiscal deficit, with gains also helped by improving global risk sentiment. The rupee hit a session h
Published 23 May, 2014 12:00am
Most emerging Asian currencies rise

Most emerging Asian currencies rise

Most emerging Asian currencies rose on Thursday after an upbeat reading on China's factory sector and as the Federal Reserve signalled it was not ready to raise interest rates any time soon. Regional currencies started the day slightly firmer as minutes o
Published 23 May, 2014 12:00am
Poor data takes shine off steady sterling

Poor data takes shine off steady sterling

A worse-than-expected fiscal deficit and disappointing export data pulled sterling off 5-1/2 year highs against a basket of currencies on Thursday, though it was trading largely flat for most of the day. Sterling had jetted higher earlier this week on mor
Published 23 May, 2014 12:00am
Martyred Major laid to rest in Chaman

Martyred Major laid to rest in Chaman

Pakistan Army Major Jalal Khan Tareen was laid to rest in his native village Saigi in district Chaman on Thursday. He was martyred along with four other soldiers during an operation against terrorists in North Waziristan on Wednesday. According to Assista
Published 23 May, 2014 12:00am
SECP issuing notices to 22,000 dormant firms

SECP issuing notices to 22,000 dormant firms

A total of 22,000 companies registered with the Securities and Exchange Commission of Pakistan (SECP) are dormant - not carrying out any business activity. During an interactive session with the media here on Thursday at the SECP Headquarters, SECP offici
Published 23 May, 2014 12:00am
Zong becomes first 3G, 4G telecom operator in Pakistan

Zong becomes first 3G, 4G telecom operator in Pakistan

Zong, a China Mobile company and Pakistan's fastest growing telecom network, ceremoniously became the first and only 3G and 4G telecom operator in the country, when Prime Minister Nawaz Sharif presented the mobile spectrum license to Dr Fan YunJun, Chairm
Published 23 May, 2014 12:00am
Speakers highlight importance of book reading, libraries

Speakers highlight importance of book reading, libraries

Speakers at a function have highlighted the importance of book-reading and stressed the need for establishing public libraries and information resource centres to create awareness among the young generation about the rich Pakhtun cultural and history. The
Published 23 May, 2014 12:00am
LG unveils world's first curved OLED TV in Pakistan

LG unveils world's first curved OLED TV in Pakistan

LG Electronics unveiled the World's First Curved OLED TV for the first time in Pakistan. The revolutionary display caught the attention of all attending media and shoppers at a busy lavish mall in Karachi. Captivated by the depth of the display and the un
Published 23 May, 2014 12:00am
AbacusConsulting: SAP Forum Pakistan sponsored

AbacusConsulting: SAP Forum Pakistan sponsored

AbacusConsulting sponsored the SAP Forum Pakistan 2014 held here at a local hotel on Thursday. The forum showcased the latest technological advancements and innovations designed for helping businesses run better and was attended by customers, prospects, p
Published 23 May, 2014 12:00am
PBC supports early privatisation of SOEs

PBC supports early privatisation of SOEs

The Pakistan Business Council (PBC) in a statement issued recently has strongly supported early privatisation of Stated Owned Enterprises (SOEs). The PBC is of the view that most of the SOEs are losing money and, that even the profitable ones are underper
Published 23 May, 2014 12:00am
Qatar's index rebounds from three-week low

Qatar's index rebounds from three-week low

Qatar's index ended a six-session losing streak to rebound from a three-week low on Thursday as investors bought back sold-off mid-cap stocks, while other Middle East markets were mixed. Doha rose 2.6 percent to 13,008 points. It had slumped since May 13'
Published 23 May, 2014 12:00am
South East Asian stocks mostly up

South East Asian stocks mostly up

Most Southeast Asian markets ended firmer on Thursday, while the Thai stock market saw foreign outflows for a third straight session as the country's army chief seized control of the government two days after he declared martial law. Outflows stood at 1.9
Published 23 May, 2014 12:00am
Tokyo stocks climb

Tokyo stocks climb

Tokyo stocks rallied 2.11 percent Thursday as upbeat Chinese data boosted sentiment while a sharp decline in the yen lifted exporter shares. The benchmark Nikkei index added 295.62 points to 14,337.79 by the close, after finishing in the red on Wednesday,
Published 23 May, 2014 12:00am
Thursday's midday trade: stocks advance modestly

Thursday's midday trade: stocks advance modestly

US stocks advanced modestly on Thursday after the latest batch of mixed data failed to deliver the confidence boost needed by investors to push indexes past record highs set last week. The number of Americans filing new claims for unemployment benefits ro
Published 23 May, 2014 12:00am
US stocks rise after Fed minutes

US stocks rise after Fed minutes

US stocks rose on Wednesday, rebounding from the previous day's broad selloff, after minutes of the Federal Reserve's last meeting showed central bankers have discussed the eventual tightening of monetary policy but made no decisions on which tools to use
Published 23 May, 2014 12:00am
US bond yields rise

US bond yields rise

Medium- and longer-dated US Treasuries yields rose on Wednesday after minutes from the Federal Reserve's latest policy meeting suggested the central bank would be slow in raising interest rates. Minutes from the Fed's April policy meeting said the central
Published 23 May, 2014 12:00am
US bond yields rise

US bond yields rise

Medium- and longer-dated US Treasuries yields rose on Wednesday after minutes from the Federal Reserve's latest policy meeting suggested the central bank would be slow in raising interest rates. Minutes from the Fed's April policy meeting said the central
Published 23 May, 2014 12:00am
India's NSE index rises to record close

India's NSE index rises to record close

India's NSE index closed at a record high on Thursday, recovering from falls in the prior session as investors resumed buying stocks of companies expected to benefit from an economic recovery, and as Coal India Ltd surged on expectations it would be broke
Published 23 May, 2014 12:00am
Hong Kong stocks up, China down

Hong Kong stocks up, China down

Hong Kong shares rose 0.51 percent on Thursday following a rally on Wall Street and as a survey indicated manufacturing activity in China had seen a sharp improvement in May. The benchmark Hang Seng Index was up 117.24 points at 22,953.76 on turnover of H
Published 23 May, 2014 12:00am
Italy, Spain underperform as European equities up

Italy, Spain underperform as European equities up

Italian and Spanish stocks underperformed firmer equity markets elsewhere in Europe on Thursday, as traders said concerns about this week's European Parliament elections were weighing on Milan and Madrid. Italy's FTSE MIB equity index closed down by 1.1 p
Published 23 May, 2014 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.7 percent on Thursday, buoyed by minutes from the US Federal Reserve's last meeting, reassuring investors that policymakers will continue to support the world's biggest economy. Tech shares rose 0.9 percent, led by a 1 percent rise in
Published 23 May, 2014 12:00am
Australian shares jump

Australian shares jump

Australian shares rose 1 percent on Thursday, as an upbeat Chinese manufacturing survey helped miners claw back recent steep losses from slumping iron ore prices. China's factory sector turned in its best performance in five months in May, a preliminary H
Published 23 May, 2014 12:00am
FTSE flat, miners advance

FTSE flat, miners advance

Britain's top share index ended flat on Thursday as stronger miners on steadier China data and a rise in tobacco stocks on deal-making hopes were offset by sharp declines in firms including Royal Mail and AstraZeneca. Miners were boosted by signs of stabi
Published 23 May, 2014 12:00am
'NGOs' experiences, counsels to be included in literacy projects'

'NGOs' experiences, counsels to be included in literacy projects'

National and international NGOs' experiences and counsels will be included in literacy projects to achieve 100 percent literacy rate in the province. According to the spokesperson of the literacy department, these views were expressed by Secretary Literac
Published 23 May, 2014 12:00am
Government considering amending: Carriage of Goods by Sea Act: minister

Government considering amending: Carriage of Goods by Sea Act: minister

Federal Minister for Ports and Shipping Kamran Michael on Thursday said that the government was considering amending the country's century old Carriage of Goods by Sea Act to make it compatible with that of the world. Speaking to media persons at a functi
Published 23 May, 2014 12:00am
Gold worth Rs 10.86 billion imported by 'Benami' taxpayers

Gold worth Rs 10.86 billion imported by 'Benami' taxpayers

Following high corruption in the taxation department, gold worth Rs 10.86 billion has been imported by 'Benami' taxpayers under Entrustment Scheme (ES) in 2013, it is learnt here on Thursday. According to sources, the issue came to surface when the withho
Published 23 May, 2014 12:00am
Gold worth Rs 10.86 billion imported by 'Benami' taxpayers

Gold worth Rs 10.86 billion imported by 'Benami' taxpayers

Following high corruption in the taxation department, gold worth Rs 10.86 billion has been imported by 'Benami' taxpayers under Entrustment Scheme (ES) in 2013, it is learnt here on Thursday. According to sources, the issue came to surface when the withho
Published 23 May, 2014 12:00am
LHC asks Punjab government to submit all UCs audit reports

LHC asks Punjab government to submit all UCs audit reports

The Lahore High Court here on Thursday directed Punjab government to submit four-year audit reports of all union councils in the province along with income and expenditure details. The court passed this order in several petitions challenging recovery of u
Published 23 May, 2014 12:00am
Punjab Assembly passes three bills

Punjab Assembly passes three bills

Punjab Assembly here on Thursday under the chair of Acting Speaker Sher Ali Gorchani passed three bills. The bills were: 'The Punjab Livestock Breeding Bill 2014','The Punjab Civil Servants (Amendment) Bill 2014 and 'The passed three bills Punjab Employee
Published 23 May, 2014 12:00am
ITU, LTC sign MoU

ITU, LTC sign MoU

Information Technology University's Centre for Technology in Governance (CTG) has signed a Memorandum of Understanding (MoU) with the Lahore Transport Company (LTC), which will digitise all the public transport routes of Lahore to facilitate citizens. Thi
Published 23 May, 2014 12:00am
Value-added textile sector to get good news in budget: Afridi

Value-added textile sector to get good news in budget: Afridi

Federal Minister for Textile Industry Abbas Khan Afridi on Thursday said that budget was being prepared in the line with business community's expectations and value-added textile sector would get good news. Addressing the members of Pakistan Hosiery Manuf
Published 23 May, 2014 12:00am
Nadra shifts Keamari center near KPT hospital

Nadra shifts Keamari center near KPT hospital

National Database and Registration Authority (Nadra) has reopened Keamari centre after shifting it near KPT hospital. This centre was closed due to poor law and order situation at previous Site, Nadra spokesperson Sindh said this in a statement issued her
Published 23 May, 2014 12:00am
PRF provides drinking water tankers in Tharparkar villages

PRF provides drinking water tankers in Tharparkar villages

Pakistan Relief Foundation (PRF) has provided drinking water tankers in the various villages of Tharparkar, a drought affected district of Sindh. A team of volunteers led by Haleem Adil Sheikh, former advisor to Chief Minister Sindh and founder chairman P
Published 23 May, 2014 12:00am
Forex reserves cross $13 billion mark

Forex reserves cross $13 billion mark

The country's liquid forex reserves crossed $13 billion mark following rising foreign inflows. According to weekly forex report issued by the State Bank of Pakistan (SBP) on Thursday, the country's total liquid forex reserves reached $13.1328 billion mark
Published 23 May, 2014 12:00am
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