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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-05-29
Equities edge down

Equities edge down

The Karachi share market Wednesday closed lower, weighed by institutional profit-taking in the index heavyweights. The benchmark KSE-100 Index fell by 61 points to close at 28,987.32 points from 29,048.21 points Tuesday. Samar Iqbal AVP at Topline Securit
Published 29 May, 2014 12:00am
Obama warns US must not rush to war

Obama warns US must not rush to war

President Barack Obama Wednesday mounted a defiant defence of his foreign policy, warning America must lead the world but must do so by emboldening partners, not by blindly rushing off to war. Obama hit back at critics who charge he is weak and presiding
Published 29 May, 2014 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (May 28, 2014).

Published 29 May, 2014 12:00am
Obama warns US must not rush to war

Obama warns US must not rush to war

President Barack Obama Wednesday mounted a defiant defence of his foreign policy, warning America must lead the world but must do so by emboldening partners, not by blindly rushing off to war. Obama hit back at critics who charge he is weak and presiding
Published 29 May, 2014 12:00am
Equities edge down

Equities edge down

The Karachi share market Wednesday closed lower, weighed by institutional profit-taking in the index heavyweights. The benchmark KSE-100 Index fell by 61 points to close at 28,987.32 points from 29,048.21 points Tuesday. Samar Iqbal AVP at Topline Securit
Published 29 May, 2014 12:00am
Equities edge down

Equities edge down

The Karachi share market Wednesday closed lower, weighed by institutional profit-taking in the index heavyweights. The benchmark KSE-100 Index fell by 61 points to close at 28,987.32 points from 29,048.21 points Tuesday. Samar Iqbal AVP at Topline Securit
Published 29 May, 2014 12:00am
BRIndex30 surges by 219.92 points

BRIndex30 surges by 219.92 points

On Wednesday, BRIndex30 opened at 17,099.48 and remained positive throughout the trading session. It touched an intraday high of 17,373.83 and an intraday low of 17,169.72 and closed at 17,319.40, which was 219.92 points or 1.29 percent higher than previo
Published 29 May, 2014 12:00am
BRIndex30 surges by 219.92 points

BRIndex30 surges by 219.92 points

On Wednesday, BRIndex30 opened at 17,099.48 and remained positive throughout the trading session. It touched an intraday high of 17,373.83 and an intraday low of 17,169.72 and closed at 17,319.40, which was 219.92 points or 1.29 percent higher than previo
Published 29 May, 2014 12:00am
Coal-fired power plants: China now the only hope

Coal-fired power plants: China now the only hope

Private Power Infrastructure Board (PPIB), a subsidiary of Water and Power Ministry, said on Wednesday that China is the only hope for financing of coal-fired power projects as no other country or multilateral agency is ready to finance such projects. Min
Published 29 May, 2014 12:00am
Coal-fired power plants: China now the only hope

Coal-fired power plants: China now the only hope

Private Power Infrastructure Board (PPIB), a subsidiary of Water and Power Ministry, said on Wednesday that China is the only hope for financing of coal-fired power projects as no other country or multilateral agency is ready to finance such projects. Min
Published 29 May, 2014 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (May 28, 2014).
Published 29 May, 2014 12:00am
Government decides to move Supreme Court against K-Electric

Government decides to move Supreme Court against K-Electric

The Federal Government said on Wednesday that it has decided to take the case of K-Electric (formerly Karachi Electric Supply Company (KESC) to the Supreme Court as the company is still getting 350 MW from national grid in alleged violation of a decision
Published 29 May, 2014 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (May 28, 2014).

Published 29 May, 2014 12:00am
Government decides to move Supreme Court against K-Electric

Government decides to move Supreme Court against K-Electric

The Federal Government said on Wednesday that it has decided to take the case of K-Electric (formerly Karachi Electric Supply Company (KESC) to the Supreme Court as the company is still getting 350 MW from national grid in alleged violation of a decision
Published 29 May, 2014 12:00am
Government decides to move Supreme Court against K-Electric

Government decides to move Supreme Court against K-Electric

The Federal Government said on Wednesday that it has decided to take the case of K-Electric (formerly Karachi Electric Supply Company (KESC) to the Supreme Court as the company is still getting 350 MW from national grid in alleged violation of a decision
Published 29 May, 2014 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (May 28, 2014).

Published 29 May, 2014 12:00am
Polo-ground reference: Zardari acquitted

Polo-ground reference: Zardari acquitted

An accountability court on Wednesday acquitted former President Asif Ali Zardari in the polo-ground corruption reference and dismissed a petition seeking acquittal in other references filed against him by National Accountability Bureau (NAB). The accounta
Published 29 May, 2014 12:00am
Polo-ground reference: Zardari acquitted

Polo-ground reference: Zardari acquitted

An accountability court on Wednesday acquitted former President Asif Ali Zardari in the polo-ground corruption reference and dismissed a petition seeking acquittal in other references filed against him by National Accountability Bureau (NAB). The accounta
Published 29 May, 2014 12:00am
We're self-sufficient in defence: Prime Minister

We're self-sufficient in defence: Prime Minister

Prime Minister Nawaz Sharif has expressed his government's resolve to make Pakistan an economically viable and self-reliant country. "We are self-sufficient in the defence field and now time has come to become self-reliant on economic front," Nawaz said w
Published 29 May, 2014 12:00am
We're self-sufficient in defence: Prime Minister

We're self-sufficient in defence: Prime Minister

Prime Minister Nawaz Sharif has expressed his government's resolve to make Pakistan an economically viable and self-reliant country. "We are self-sufficient in the defence field and now time has come to become self-reliant on economic front," Nawaz said w
Published 29 May, 2014 12:00am
Cagliari owner sells club to US investors

Cagliari owner sells club to US investors

Cagliari owner Massimo Cellino offered his support to the new buyers of the Serie A club as he confirmed the sale of a majority share on Wednesday. A group of US investors led by Luca Silvestrone had been competing with mining mogul Tommaso Giulini to tak
Published 29 May, 2014 12:00am
PCGA seeks ban on import of cotton, yarn from India

PCGA seeks ban on import of cotton, yarn from India

The Central Executive Committee (CEC) of Pakistan Cotton Ginners Association (PCGA) has demanded of the government to impose complete ban on the import of cotton lint and yarn from India through Wahga border. The CEC's meeting was chaired by Mukhtar Ahmed
Published 29 May, 2014 12:00am
Fesco team nabs many power pilferers

Fesco team nabs many power pilferers

A joint Fesco team conducted a raid and nabbed many power pilferers from Chak No 244-RB Waseeran. On the special directive of Chief Executive Officer (CEO) Fesco Khurshid Alam, the campaign against power pilferers has been expedited. On a tips Executive E
Published 29 May, 2014 12:00am
Elahi terms Faisalabad Industrial Estate's inauguration a joke

Elahi terms Faisalabad Industrial Estate's inauguration a joke

Pakistan Muslim League-Q (PML-Q) senior leader and former Deputy Prime Minister Chaudhry Parvez Elahi has alleged that keeping Faisalabad Industrial Estate, established over 4,500 acres during PML-Q's tenure, closed for 6 years by Shahbaz Sharif and now e
Published 29 May, 2014 12:00am
NAB asked to investigate fake allotments in FGEHF

NAB asked to investigate fake allotments in FGEHF

Minister of State for Housing and Works Barrister Usman Ibrahim has directed National Accountability Bureau (NAB) to investigate the matter of fake allotments and unjust cancellation of plots in Federal Government Employees Housing Foundation (FGEHF) on W
Published 29 May, 2014 12:00am
Woman kidnapping case: LHC seeks detailed report

Woman kidnapping case: LHC seeks detailed report

The Lahore High Court on Wednesday took notice of kidnapping case of a woman in Mamu Kanjan and directed District & Sessions Judge, Faisalabad to look into the matter and submit detailed report within a week. According to details, Arif, a relative of the
Published 29 May, 2014 12:00am
JuD stages rally on Takbeer Day

JuD stages rally on Takbeer Day

Like other parts of the country, activists of Jamatud Dawa Peshawar chapter Wednesday took out rallies to observe Youm-e-Takbeer day, with national zeal and fervour. The Jumatud Dawa (JuD) rally led by Convenor, Tehreek Hurmat-e-Rasool and JuD Central lea
Published 29 May, 2014 12:00am
Youm-e-Takbeer marked at NIMRA

Youm-e-Takbeer marked at NIMRA

Addressing a gathering to celebrate the 16th "Youm-e-Takbeer "at Nuclear Institute of Medicine & Radiotherapy Jamshoro, the Chief Guest Dr Sikandar Ali Mandhro, Minister for Parliamentary Affairs and Law, the Government of Sindh paid tribute to Shaeed Zul
Published 29 May, 2014 12:00am
UN to honour two Pakistani peacekeepers today

UN to honour two Pakistani peacekeepers today

The United Nations is set to honour at a solemn ceremony on Thursday (today) the sacrifices of more than 100 peacekeepers including two Pakistanis who paid the ultimate price in serving the cause of peace in hot spots around the world last year. The cerem
Published 29 May, 2014 12:00am
PML-N celebrates 16th Youm-e-Takbeer with zeal

PML-N celebrates 16th Youm-e-Takbeer with zeal

Pakistan Muslim League-Nawaz (PML-N) on Wednesday celebrated 16th Youm-e-Takbeer with zeal and zest in commemoration of nuclear tests conducted by Pakistan on May 28, 1998 making the country's defence impregnable. To mark the day, PML-N organized various
Published 29 May, 2014 12:00am
'Youm-e-Takbeer' a memorable day: PU VC

'Youm-e-Takbeer' a memorable day: PU VC

Punjab University Vice Chancellor Professor Dr Mujahid Kamran has stated that "Youm-e-Takbeer" is a memorable day in the history of Pakistan and Islam on which Pakistan emerged as the only nuclear power of the Islamic world.
Published 29 May, 2014 12:00am
British HC meets chief minister Punjab

British HC meets chief minister Punjab

British High Commissioner to Pakistan, Philip Barton met with Punjab Chief Minister Shahbaz Sharif here on Wednesday and matters of mutual interest, bilateral relations and co-operation in education, health and other social sectors were discussed. While t
Published 29 May, 2014 12:00am
1,000 non-filer officials: FBR appears feckless in taking action

1,000 non-filer officials: FBR appears feckless in taking action

The Federal Board of Revenue (FBR) appears feckless in taking punitive measures against its over 1000 officers, who have failed to submit their income tax returns for tax year 2013, despite receiving a couple of warnings; it was learnt.
Published 29 May, 2014 12:00am
Karachi operation: DG Rangers briefs Nisar about challenges

Karachi operation: DG Rangers briefs Nisar about challenges

Director Rangers Sindh Major General Rizwan Akhtar called on Federal Minister for Interior and Narcotics Control Chaudhry Nisar Ali Khan on Wednesday and discussed overall security situation in Sindh province with particular reference to ongoing operation
Published 29 May, 2014 12:00am
Quitting KMTP: MQM MNAs concerned about JICA's decision

Quitting KMTP: MQM MNAs concerned about JICA's decision

Muttahida Qaumi Movement's members of National Assembly have expressed concern over a news report that the Japan International Co-operation Agency (JICA) had declined to work on the Karachi Mass Transit Project (KMTP). JICA conveyed their decision in a le
Published 29 May, 2014 12:00am
Two alleged TTP men held in Bhakkar

Two alleged TTP men held in Bhakkar

Police have arrested two alleged members of the outlawed Tehreek-e-Taliban Pakistan (TTP) from Bhakkar. Detained accused Faiz and Shahnawaz were involved in extortion, bank robberies and target killings, police sources said. The TTP, a coalition of milita
Published 29 May, 2014 12:00am
AGL holds sports activities for underprivileged schools

AGL holds sports activities for underprivileged schools

Attock General Limited (AGL) (Attock Group Company) has been arranging sports activities and providing grounds and sports material to the underprivileged schools of Morgah and Kotha Kalan under its CSR plan. Competitions were held last week for which a gr
Published 29 May, 2014 12:00am
PIAF hails honouring Khamis Saeed Butt

PIAF hails honouring Khamis Saeed Butt

Pakistan Industrial and Traders Associations Front (PIAF) has appreciated the Karachi-based business community for deciding to honour Khamis Saeed Butt in recognition of his meritorious services for the cause of paper trade. PIAF office-bearers Malik Tahi
Published 29 May, 2014 12:00am
Amendment to CDA laws: PAC decides to write letter to Prime Minister

Amendment to CDA laws: PAC decides to write letter to Prime Minister

The Public Accounts Committee decided on Wednesday to write a letter to Prime Minister Nawaz Sharif, recommending an amendment to the laws of Capital Development Authority and reconstitution of the authority's board. Chairman PAC Syed Khursheed Shah along
Published 29 May, 2014 12:00am
Sudan envoy visits UET

Sudan envoy visits UET

Ambassador of Sudan in Pakistan, Al-Shafie Ahmad Mohammad visited the University of Engineering and Technology, Lahore on Wednesday. According to the spokesperson of the UET, Sudan envoy met with the UET Vice Chancellor Lieutenant General Muhammad Akram K
Published 29 May, 2014 12:00am
NBP organises Remittance Mela

NBP organises Remittance Mela

National Bank of Pakistan is truly the Nation's Bank having the widest branch network catering to customers in urban, rural and even far-flung areas of the country. Similarly, NBP takes the Home Remittance business as a national cause and is working hard
Published 29 May, 2014 12:00am
PML-N lawmakers from Sindh meet Nawaz

PML-N lawmakers from Sindh meet Nawaz

"Our party is engaged in politics of reconciliation and strengthening democracy," said Prime Minister Nawaz Sharif while meeting a delegation of Pakistan Muslim League-Nawaz parliamentarians (MNAs and MPAs) from Sindh who called on the Prime Minister here
Published 29 May, 2014 12:00am
Cottage industry: ST exemption threshold may be curtailed

Cottage industry: ST exemption threshold may be curtailed

The reduction of sales tax exemption threshold for cottage industry is under consideration of the Federal Board of Revenue (FBR) in upcoming budget (2014-15). Sources told Business Recorder here on Wednesday that the budget proposal has been drafte
Published 29 May, 2014 12:00am
QWP chief demands implementation of Fata reforms

QWP chief demands implementation of Fata reforms

Qaumi Watan Party Central chairman, Aftab Ahamd Khan Sherpao has demanded the government to implement Fata reforms, with letter and spirit, to end the self of deprivation among tribesmen and mainstreaming the Federally Administrated Tribal Areas.
Published 29 May, 2014 12:00am
Commander of Royal Army of Oman calls on Prime Minister

Commander of Royal Army of Oman calls on Prime Minister

Major General Matar Bin Salim Bin Rashid Albalushi, Commander of Royal Army of Oman called on Prime Minister Muhammad Nawaz Sharif at PM House on Wednesday. Brigadier Mohammad Bin Saleh Bin Al Shibli, Commander Sultan of Oman's Army, Col Said Bin Bakhit M
Published 29 May, 2014 12:00am
Budget 2014-15: AKTI Chairman seeks incentives for small traders

Budget 2014-15: AKTI Chairman seeks incentives for small traders

All Karachi Tajir Ittehad (AKTI) Chairman Atiq Mir on Wednesday warned that the government might confront more financial problems if it continued its "IMF-dictated" economic policies in the next fiscal budget 2014-15. Speaking to Business Recorder,
Published 29 May, 2014 12:00am
Imran warns protests against PIA privatisation

Imran warns protests against PIA privatisation

Pakistan Tehrik-e-Insaf (PTI) Chairman Imran Khan has warned that his political workers will hold protests at all the airports of the country if Pakistan International Airlines (PIA) was privatised. Speaking at Benazir Bhutto International Airport, the PT
Published 29 May, 2014 12:00am
Metro bus project: IHC issues stay order against demolition of graveyard

Metro bus project: IHC issues stay order against demolition of graveyard

The Islamabad High Court (IHC) on Wednesday issued a stay order against demolition of a graveyard, situated on the green belt of 9th Avenue where construction work is under way for the multi-billion rupees metro bus project. A single member bench of Justi
Published 29 May, 2014 12:00am
Parties urge government to announce 'people-friendly' budget

Parties urge government to announce 'people-friendly' budget

Opposition political parties have urged the government to announce special measures in budget 2014-15 to control rising inflation by giving maximum relief to the masses and deal with energy crisis on a war-footing. Talking to Business Recorder, rep
Published 29 May, 2014 12:00am
Demand of cement to go up with rise in PSDP funds

Demand of cement to go up with rise in PSDP funds

Demand of cement was expected to increase in the next fiscal year 2014-2015 owing to higher allocation of funds reportedly being made under the head of Public Sector Development Programme (PSDP). According to sources, a huge amount of Rs 525 billion was l
Published 29 May, 2014 12:00am
Government urged to abolish ST on agriculture machinery, input

Government urged to abolish ST on agriculture machinery, input

The government was urged to abolish sales tax on agriculture machinery and input in budget 2014-15 and enhance the budgetary allocation for Ministry of National Food Security and Research (NFS&R). This recommendation was made by the National Assembly Stan
Published 29 May, 2014 12:00am
MoIP's Joint Secretary visits WBDC

MoIP's Joint Secretary visits WBDC

Joint Secretary of Ministry of Industries and Production (MoIP), Khizer Hayat has said that the promotion of women entrepreneurship is essential for bringing economic development in the country. He expressed these views during his visit to Women Business
Published 29 May, 2014 12:00am
Workshops at LUMHS conclude

Workshops at LUMHS conclude

Addressing the concluding session of the series of workshops arranged by the Department of Physiology, the Vice Chancellor LUMHS Professor Noshad A Shaikh expressed regarding the workshop on "Abstract Writing" that the goal of this event is to help studen
Published 29 May, 2014 12:00am
SHC orders reunion of recovered children with their families

SHC orders reunion of recovered children with their families

The Sindh High Court (SHC) on Wednesday ordered police officials to make fullest endeavour to reunify the 16 missing children, who have been rescued by the Child Protection Bureau, Lahore, with their families residing in Karachi. The two-member bench head
Published 29 May, 2014 12:00am
Export of Halal meat surges to 450 metric tons per month

Export of Halal meat surges to 450 metric tons per month

Country's Halal meat export has surged to 450 metric tons per month, it emerged on Wednesday. An official of Pakistan International Airlines' (PIA) Cargo Complex said that 15 containers of Halal processed meats were being exported to international market
Published 29 May, 2014 12:00am
Government believes in poverty alleviation: Dar

Government believes in poverty alleviation: Dar

Federal Minister for Finance, Senator Mohammad Ishaq Dar said that the government believes in poverty alleviation and will take all necessary steps to help the poor people. He said this during his meeting with Philip Barton, British High Commissioner to P
Published 29 May, 2014 12:00am
Free treatment of lawyers: SHC seeks comments of Health Department

Free treatment of lawyers: SHC seeks comments of Health Department

The Sindh High Court (SHC) on Wednesday asked the provincial law officer to summon focal person of the health department to appear before it and file reply on a petition filed by the District Bar Association, Malir, calling for free medical treatment for
Published 29 May, 2014 12:00am
PQA violates Public Procurement Rules 2004

PQA violates Public Procurement Rules 2004

Port Qasim Authority (PQA) has violated Public Procurement Rules 2004, in the Expression of Interest (EoI) for establishment of coal terminal/(s) on BOT basis. Chairman, Transparency International Pakistan, Sohail Muzaffar in a letter sent on May 26 to Ch
Published 29 May, 2014 12:00am
Sindh chief minister removes 30 OPS officers in E&T department

Sindh chief minister removes 30 OPS officers in E&T department

Over 30 junior officers of Own Pay Scale (OPS) were working in higher posts in Excise and Taxation Department of Sindh, who were recently removed by the Chief Minister of Sindh in pursuance of a Supreme Court verdict. The removed OPS officers have been as
Published 29 May, 2014 12:00am
NIP introduces concept of business incubation in Pakistan

NIP introduces concept of business incubation in Pakistan

The concept of business incubation would be introduced for the first time in Pakistan by National Industrial Parks Development and Management Company (NIP) to assist new entrepreneurs anxious to set up their own business through Prime Minister's Youth Bus
Published 29 May, 2014 12:00am
EU vote final results shake Bulgaria's government

EU vote final results shake Bulgaria's government

Final results of the EU vote in Bulgaria on Wednesday sparked talk of snap elections and renewed instability as they confirmed the ruling Socialists' poor showing. The conservative opposition GERB party, led by ousted premier Boyko Borisov, won Sunday's v
Published 29 May, 2014 12:00am
Don't buy an iguana, Brazil warns World Cup fans

Don't buy an iguana, Brazil warns World Cup fans

World Cup fans looking for that special souvenir from Brazil should know it is illegal to buy parrots, iguanas and other wildlife, authorities said Wednesday, releasing a list of environmental guidelines for tourists. Monkeys, birds, snakes, butterflies,
Published 29 May, 2014 12:00am
India's 13-year-long hunger striker pins hopes on Modi

India's 13-year-long hunger striker pins hopes on Modi

An Indian activist who has been on hunger strike for over 13 years said Wednesday she was pinning her hopes of finally leading a normal life on new Prime Minister Narendra Modi. Irom Sharmila, 42, who is force-fed by a drip through her nose, said she want
Published 29 May, 2014 12:00am
Oldest US congressman loses seat to Tea Party Republican

Oldest US congressman loses seat to Tea Party Republican

The oldest serving member in the US Congress, Ralph Hall, lost his re-election bid to a Tea Party-backed challenger barely half his age. The 91-year-old Texan, first elected to the House of Representatives as a Democrat in 1980 but who became a Republican
Published 29 May, 2014 12:00am
Iraq attacks kill 38 as 2014 toll tops 4,000

Iraq attacks kill 38 as 2014 toll tops 4,000

Attacks across Iraq, including a spate of car bombs in Baghdad, killed 38 people Wednesday, the latest in a months-long surge in violence that has left more than 4,000 dead this year. Shootings and bombings, which left dozens more wounded nation-wide, als
Published 29 May, 2014 12:00am
Sarkozy under fire over funding scandal

Sarkozy under fire over funding scandal

Nicolas Sarkozy came under fresh pressure over an election funding scandal Wednesday as France's Socialist government demanded full disclosure of the former president's campaign financing. "In a presidential campaign there are clear rules about financing
Published 29 May, 2014 12:00am
Hundreds of migrants breach Morocco-Spain border

Hundreds of migrants breach Morocco-Spain border

About 500 African migrants leapt a towering, triple-layer border fence to cross from Morocco to the tiny Spanish territory of Melilla on Wednesday, one of the biggest breaches in nearly a decade, officials said. At least 1,000 sub-Saharan Africans had joi
Published 29 May, 2014 12:00am
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