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Apr 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-06-05
Wall Street ends a bit lower

Wall Street ends a bit lower

US stocks dipped in thin volume on Tuesday, with the Dow and the S&P 500 retreating from Monday's record closing levels as traders found few reasons to buy following a string of gains. A rise in semiconductor companies' shares limited losses. About half o
Published 05 Jun, 2014 12:00am
Wednesday's mid-afternoon trade: S&P sets record intraday high

Wednesday's mid-afternoon trade: S&P sets record intraday high

US stocks rose on Wednesday, with the S&P 500 hitting another intraday record high as investors brushed off weaker-than-expected labour market data and focused on an acceleration in services-sector growth. But with the Dow and the S&P 500 near record leve
Published 05 Jun, 2014 12:00am
Tokyo stocks surge

Tokyo stocks surge

Tokyo stocks ended 0.22 percent higher Wednesday as profit-taking held back further gains after the previous day saw the Japanese market post its best finish in two months. The benchmark Nikkei 225 index added 33.71 points to close at 15,067.96, its third
Published 05 Jun, 2014 12:00am
South East Asian markets: Thai shares snap rising streak

South East Asian markets: Thai shares snap rising streak

Southeast Asian stocks fell on Wednesday, as investors were cautious ahead of the European Central Bank's monetary policy meeting on Thursday, and Thai shares snapped six sessions of gains amid technical-led selling. The Thai SET index ended down 0.3 perc
Published 05 Jun, 2014 12:00am
Egyptian bourse rebounds, UAE and Qatar remain weak

Egyptian bourse rebounds, UAE and Qatar remain weak

Egypt's bourse rebounded on Wednesday after several days of weakness, while many major stocks in the United Arab Emirates and Qatar extended declines following a jump that their inclusion in MSCI's emerging market index had sparked. Egyptian investors, wh
Published 05 Jun, 2014 12:00am
US economy on solid ground despite cooler hiring

US economy on solid ground despite cooler hiring

US companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year. While other data on Wednesday suggested a widening trade gap could w
Published 05 Jun, 2014 12:00am
Eurozone economy stutters as ECB gears up for action

Eurozone economy stutters as ECB gears up for action

Price cuts by eurozone firms failed to prevent business growth from losing momentum in May, all but sealing the case for looser monetary policy a day before the European Central Bank meets. Markit's Composite Purchasing Managers' Index (PMI) showed that w
Published 05 Jun, 2014 12:00am
Eurozone economy stutters as ECB gears up for action

Eurozone economy stutters as ECB gears up for action

Price cuts by eurozone firms failed to prevent business growth from losing momentum in May, all but sealing the case for looser monetary policy a day before the European Central Bank meets. Markit's Composite Purchasing Managers' Index (PMI) showed that w
Published 05 Jun, 2014 12:00am
Global business activity accelerated

Global business activity accelerated

Global business activity accelerated to an eight-month high last month as both the services and manufacturing industries showed renewed vigour, a business survey showed on Wednesday. J.P. Morgan's Global All-Industry Output Index, produced with Markit, ro
Published 05 Jun, 2014 12:00am
UK's house price-income gap widens in London and south

UK's house price-income gap widens in London and south

The gap between house prices and home-buyers' income in London and some other areas of England has widened sharply from before the financial crisis, according to official data likely to catch the eye of the Bank of England. Average house prices in the cap
Published 05 Jun, 2014 12:00am
Slowdown in China property market 'normal'

Slowdown in China property market 'normal'

The slowdown in China's property market is a normal adjustment after past stellar performance, a senior housing ministry official said on Wednesday, at a time of concerns that the sector's problems could weigh on the broader economy. Feng Jun, chief econo
Published 05 Jun, 2014 12:00am
Australia economy gathers pace

Australia economy gathers pace

Australia boasted its fastest growth in two years last quarter as exports surged by the most since 1999, though the long-awaited revival may have already been endangered by a government crusade for fiscal rectitude. The year certainly started well enough,
Published 05 Jun, 2014 12:00am
G7 leaders meet without Russia, take firm line on Ukraine

G7 leaders meet without Russia, take firm line on Ukraine

Germany's Angela Merkel urged Russian President Vladimir Putin on Wednesday to help stem violence in eastern Ukraine and said the West would not hesitate to impose stricter economic sanctions on Russia if it failed to cooperate. Speaking ahead of a summit
Published 05 Jun, 2014 12:00am
US launches $1 billion push for off-grid Africa power

US launches $1 billion push for off-grid Africa power

US companies have promised $1 billion for off-grid power projects in Africa, putting a growing focus on small-scale and renewable energy in the push to ease the continent's chronic electricity shortages. President Barack Obama's administration announced c
Published 05 Jun, 2014 12:00am
Fed's Beige Book points to pick-up in US growth

Fed's Beige Book points to pick-up in US growth

Economic growth strengthened throughout the country with a broad pick-up in manufacturing, "brisk growth" at some shipping ports and steady consumer spending, the Federal Reserve said on Wednesday. The central bank's Beige Book of anecdotal economic repor
Published 05 Jun, 2014 12:00am
US court rules Citi settlement wrongly blocked

US court rules Citi settlement wrongly blocked

A US federal appeals court Wednesday ruled that a lower court judge abused his discretion when he blocked a settlement between Citigroup and regulators over alleged mortgage-securities fraud. The appeals court overturned a November 2011 decision by US Dis
Published 05 Jun, 2014 12:00am
K-Electric Limited

K-Electric Limited

It seems that the name change has further improved the company's fortunes; Karachi Electric Supply Corporation changed its name to K-Electric Limited, effective January 16, 2014. The firm was incorporated in 1913 and is a fully integrated power utility th
Published 05 Jun, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (June 04, 2014).

Published 05 Jun, 2014 12:00am
K-Electric Limited

K-Electric Limited

It seems that the name change has further improved the company's fortunes; Karachi Electric Supply Corporation changed its name to K-Electric Limited, effective January 16, 2014. The firm was incorporated in 1913 and is a fully integrated power utility th
Published 05 Jun, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (June 04, 2014).

Published 05 Jun, 2014 12:00am
Charges of misuse of powers: LHC withdraws 13 judges from judicial work

Charges of misuse of powers: LHC withdraws 13 judges from judicial work

The Lahore High Court (LHC) has withdrawn judicial work from 13 judicial officers on charges of misuse of powers and misbehaving with litigants posted in 11 districts of Punjab. The LHC Administration Committee had recommended the action against the judge
Published 05 Jun, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 05 Jun, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 05 Jun, 2014 12:00am
The Weather

The Weather

The weather report on Wednesday (June 04, 2014) and the forecast for Thursday (June 05, 2014).

Published 05 Jun, 2014 12:00am
'No polio case reported in Punjab'

'No polio case reported in Punjab'

Advisor to Chief Minister Punjab on Health Khawaja Salman Rafique on Wednesday said due to effective and vigorous anti-polio campaigns, no polio case has been reported in Punjab.
Published 05 Jun, 2014 12:00am
Punjab increases health budget by seven percent

Punjab increases health budget by seven percent

The Punjab government has increased health budget for FY 2014-15 by seven percent to provide better health facilities to the rural population, Finance Minister Mujtaba Shuja Ur Rehman said here on Wednesday. Earlier the provincial government had allocated
Published 05 Jun, 2014 12:00am
'10-point agenda of PML-Q, PAT to help resolve problems'

'10-point agenda of PML-Q, PAT to help resolve problems'

Pakistan Muslim League (PML-Q) President, Senator Chaudhry Shujaat Hussain, senior central leader and former Deputy Prime Minister Chaudhry Parvez Elahi and Pakistan Awami Tehrik (PAT) chief Dr Tahirul Qadri said that 10-point agenda signed by both PML-Q
Published 05 Jun, 2014 12:00am
Shahbaz reviews ADP fiscal year 2014-15

Shahbaz reviews ADP fiscal year 2014-15

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting to review Annual Development Programme for financial year 2014-15 Wednesday. The Chief Minister while appreciating the efforts of political, administrative and economic team
Published 05 Jun, 2014 12:00am
Shahbaz reviews ADP fiscal year 2014-15

Shahbaz reviews ADP fiscal year 2014-15

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting to review Annual Development Programme for financial year 2014-15 Wednesday. The Chief Minister while appreciating the efforts of political, administrative and economic team
Published 05 Jun, 2014 12:00am
Cement supply to local markets increases by 9.86 percent

Cement supply to local markets increases by 9.86 percent

The supply of cement to domestic markets during the month of May 2014 increased by 9.86 percent to 2.309 million tons compared with 2.102 million tons during the same month last year. Exports of cements during May 2014 were 759,000 tons against 785,000 to
Published 05 Jun, 2014 12:00am
Danish envoy, chief minister Punjab discuss energy projects

Danish envoy, chief minister Punjab discuss energy projects

A delegation led by Ambassador of Denmark Jesper Moller Sorensen and Chief Operating Officer Danny Nielson of a Danish company in the field of wind energy, VESTAS, called on Punjab Chief Minister Shahbaz Sharif here on Wednesday. Matters relating to co-op
Published 05 Jun, 2014 12:00am
Traders, industrialists term budget 'balanced'

Traders, industrialists term budget 'balanced'

Terming the Federal Budget 2014-15 `balanced' and`business-friendly', industrialists and traders said it was for the first time in the country's history that the government has earmarked huge funds for bringing an end to energy crisis and for constructin
Published 05 Jun, 2014 12:00am
Traders, industrialists term budget 'balanced'

Traders, industrialists term budget 'balanced'

Terming the Federal Budget 2014-15 `balanced' and`business-friendly', industrialists and traders said it was for the first time in the country's history that the government has earmarked huge funds for bringing an end to energy crisis and for constructin
Published 05 Jun, 2014 12:00am
Efforts afoot to bring Altaf back home: MQM

Efforts afoot to bring Altaf back home: MQM

Member of London's Co-ordination Committee of Muttahida Qaumi Movement (MQM) Nadeem Nusrat said party chief Altaf Hussain is ailing and efforts are being made to bring him back home. "We have, thus far, told as much that British police seeks to interrogat
Published 05 Jun, 2014 12:00am
US issues travel advisory for citizens

US issues travel advisory for citizens

The US citizens were warned Wednesday to exercise caution in view of the ongoing demonstrations in the metropolis after Muttahida Qaumi Movement (MQM) chief Altaf Hussain was arrested in London by the Met Police. The US Consulate based in Karachi issued a
Published 05 Jun, 2014 12:00am
Pakistan condemns Bajaur incident

Pakistan condemns Bajaur incident

Pakistan has condemned the unprovoked attacks by terrorists from across Afghanistan on its border posts in Bajaur Agency in which four soldiers were martyred. "Early in the morning today (Wednesday), two Pakistani border posts -Manozangal and Moukha tops
Published 05 Jun, 2014 12:00am
From hot to very hot weather predicted today

From hot to very hot weather predicted today

Hot to very hot weather will continue today (Thursday) in most parts of the country especially in the plains of Punjab and Sindh provinces where mercury hovered above 44 degree Celsius on Wednesday, Meteorological department said. In its daily weather rep
Published 05 Jun, 2014 12:00am
Khyber Pakhtunkhwa IGP suspends SDPO, SHO, two SIs

Khyber Pakhtunkhwa IGP suspends SDPO, SHO, two SIs

Taking notice of the public complaints, Inspector General of Police (IGP) Khyber-Pakhtunkhwa Nasir Khan Durrani suspended SDPO Puran Martung, district Shangla, SHO, Muharrar and two Sub-Inspectors and ordered departmental inquiry against them. According t
Published 05 Jun, 2014 12:00am
ANF recovers drugs, 10 arrested

ANF recovers drugs, 10 arrested

Anti-Narcotic Force (ANF) during various operations in different cities recovered 33-kg charas, 6-kg opium, 1.68-kg heroin, 180-kg Poppy Straw and Psychotropic Tablets, while arrested 10 persons and seized 2 vehicles. ANF Lahore intercepted a Charade Car
Published 05 Jun, 2014 12:00am
Dastgir, Shahbaz discuss development projects

Dastgir, Shahbaz discuss development projects

Federal Minister for Trade Khurram Dastgir Khan met Punjab Chief Minister Shahbaz Sharif in Islamabad. Matters relating to economic development, energy and other projects were discussed in the he resolution of energy crisis as early as possible was essen
Published 05 Jun, 2014 12:00am
Rs four million released for lining of four canals

Rs four million released for lining of four canals

The Punjab government has released Rs 4 million for initiating work on lining of four canals in Multan division. According to Irrigation Department sources here on Wednesday, the released amount would be spent on the lining work of Hamidpur, Rana, Faizpur
Published 05 Jun, 2014 12:00am
Checking income misclassification to yield Rs 17 billion

Checking income misclassification to yield Rs 17 billion

The budgetary measure of the Federal Board of Revenue (FBR) to check misclassification of income earned by taxpayers would generate Rs 17 billion in 2014-15. The budgetary revenue impact revealed here on Wednesday that the proposal of alternate corporate
Published 05 Jun, 2014 12:00am
Zardari condemns attack on military vehicle

Zardari condemns attack on military vehicle

Pakistan People's Party Co-Chairman Asif Ali Zardari has strongly condemned the cowardly attack by militants on a military vehicle in Fateh Jang resulting in the martyrdom of two military officers and two soldiers and a civilian. Zardari in a message paid
Published 05 Jun, 2014 12:00am
Consumer Price Index (CPI)

Consumer Price Index (CPI)

Pakistan Bureau of Statistics (PBS) announced the Consumer Price Index (CPI) increase by 8.34 percent during the month of May in comparison to the comparable period last year. This announcement was made just a day prior to the presentation of the budget.
Published 05 Jun, 2014 12:00am
Altaf's ordeal

Altaf's ordeal

It's only natural that hundreds of thousands of MQM workers felt grievously hurt over the 'arrest' of their supremo, Altaf Hussain. The kind of rapport that obtains between them and their founder leader is unique and it is only his distinction unknown to
Published 05 Jun, 2014 12:00am
VIEW POINT: Planning a 'revolutionary' government

VIEW POINT: Planning a 'revolutionary' government

The Chaudhry brothers leading the rump PML-Q, and Tahirul Qadri who has made himself a career as a religious leader and quasi politician, got together in London last week to plot and plan the ouster of the PML-N government and install a 'revolutionary' go
Published 05 Jun, 2014 12:00am
Tensions in joint venture Relationships

Tensions in joint venture Relationships

Joint venture is a legal entity in the nature of a partnership engaged in the joint understanding of a particular transaction for mutual profit. It is basically an association of persons or companies jointly undertaking some commercial enterprise. General
Published 05 Jun, 2014 12:00am
As bank swaps trades come under rules, electronic trading may rise

As bank swaps trades come under rules, electronic trading may rise

Three months after new trading requirements for the $300 trillion US derivatives market were introduced, little of the market is operating as regulators intended, with mandates for most bank trades delayed and investors slow to embrace new trading systems
Published 05 Jun, 2014 12:00am
Correction

Correction

Apropos editorial 'The Budget' carried by Business Recorder yesterday, the amount of subsidies estimated for fiscal year 2014-15 by the federal government is Rs 203.248 billion, not Rs 23 billion.
Published 05 Jun, 2014 12:00am
How PM is doing?

How PM is doing?

Nawaz Sharif's visit to attend the oath-taking ceremony of Indian Prime Minister-elect, Narendra Modi, is being trumpeted as a regional political coup by his sycophant sidekicks. Mian Saheb's sheepish response to Modi's presented charge-sheet against Paki
Published 05 Jun, 2014 12:00am
Police arrest three more over bludgeoning of woman

Police arrest three more over bludgeoning of woman

Police said Wednesday they have arrested three more men for the brutal murder of a woman bludgeoned to death outside a court by family members for marrying against their wishes. Farzana Parveen was battered to death last week outside the Lahore High Court
Published 05 Jun, 2014 12:00am
AlHuda CIBE to extend services to 15 African countries

AlHuda CIBE to extend services to 15 African countries

AlHuda Centre of Islamic Banking and Economics (CIBE) chalks down the strategy to offer its services in African countries to promote Islamic banking and finance through consultancy, research, education and capacity building where there is an excellent pot
Published 05 Jun, 2014 12:00am
LDA to set up day-care centre at Johar Town

LDA to set up day-care centre at Johar Town

Lahore Development Authority (LDA) has decided to establish a state-of-the-art day-care centre at its Johar Town office for looking after the infants and babies of women working in the office. According to a LDA's spokesperson here on Wednesday, in this c
Published 05 Jun, 2014 12:00am
GST reduction on tractors hailed

GST reduction on tractors hailed

The Lahore Chamber of Commerce and Industry on Wednesday lauded the government's decision to reduce General Sales Tax on tractors from 16 per cent to 10 per cent. LCCI President Sohail Lashari in a statement said that cut in GST will reduce the price of a
Published 05 Jun, 2014 12:00am
PTEA hails federal budget as progressive

PTEA hails federal budget as progressive

Pakistan Textile Exporters Association (PTEA) has hailed the federal budget as progressive and realistic providing incentives and support to textile export sector. The new fiscal plan has set in place pro-growth measures to create jobs, increase revenue a
Published 05 Jun, 2014 12:00am
FCCI reckons budget people, business-friendly

FCCI reckons budget people, business-friendly

Faisalabad Chamber of Commerce and Industry (FCCI) and other leading trade organisations have categorically termed Federal Budget 2014-15 as people and business-friendly that will help in streamlining the national economy in a sustained manner.
Published 05 Jun, 2014 12:00am
PIAF terms budget economic revival plan

PIAF terms budget economic revival plan

Pakistan Industrial and Traders Associations Front (PIAF) has termed the Federal Budget 2014-15 as economic revival plan, as initiatives announced to strengthen energy sector and infrastructure would help overcome growth related challenges. The PIAF Chair
Published 05 Jun, 2014 12:00am
Speakers for non-interference of religion in state affairs

Speakers for non-interference of religion in state affairs

Speakers at a seminar on "State religion and Society" stressed the need for non-interference of religion in the state affairs for long-term societal development. The seminar was held under the aegis of Department of International Relations University of P
Published 05 Jun, 2014 12:00am
Tirah IDPs seek reopening of registration

Tirah IDPs seek reopening of registration

The Internally Displaced persons (IDPs) from Tirah valley of Khyber Agency, demanded the government and provincial disaster management authorities to re-open the registration process and make it easier, to ensure immediate return to their respective homet
Published 05 Jun, 2014 12:00am
First Pakistani appointed director in IFA

First Pakistani appointed director in IFA

For the first time ever in the history of the country, a Pakistani national has been appointed as a director of the prestigious and globally famous 'International Association for the global fertilizer Industry' (IFA), says a press release issued here on W
Published 05 Jun, 2014 12:00am
PTCL granted 'Training Employer' status by ICAEW

PTCL granted 'Training Employer' status by ICAEW

Pakistan Telecommunication Company Limited (PTCL) has been granted 'Training Employer' status by the Institute of Chartered Accountants England and Wales (ICAEW) after meeting their strict screening and evaluation criteria. PTCL is one of few companies in
Published 05 Jun, 2014 12:00am
Bilawal condemns Fateh Jang suicide attack

Bilawal condemns Fateh Jang suicide attack

Patron-in-Chief of Pakistan People's Party (PPP) Bilawal Bhutto Zardari has strongly condemned the cowardly suicide attack on security forces on Fateh Jang road resulting in the martyrdom of several people and injuring others. Bilawal Zardari in his messa
Published 05 Jun, 2014 12:00am
Parliamentarians meet President Saudi Majlis Al Shura

Parliamentarians meet President Saudi Majlis Al Shura

A six-member delegation comprising parliamentarians and scholars led by Senator Mushahid Hussain called on the President of Saudi Majlis Al Shura Sheikh Dr Abdullah bin Mohammed bin Ibrahim Al Sheikh on Wednesday at his office in the Majlis Shura Other me
Published 05 Jun, 2014 12:00am
Japan inks accord to extend Rs 5 billion loan for energy sector
Libor

Japan inks accord to extend Rs 5 billion loan for energy sector

The Government of Japan formally agreed to extend a concessional loan of JPY 5 billion (approximately Rs 5 billion) to the Government of Pakistan for supporting the energy sector reforms in Pakistan. The agreement was signed between Hiroshi Inomata, Ambas
Published 05 Jun, 2014 12:00am
Fairness leads to good governance: Chairman Senate

Fairness leads to good governance: Chairman Senate

Chairman of the Senate Syed Nayyer Hussain Bokhari has said that fairness leads to good governance and we have to evolve a system of local development bodies in the provinces and to strengthen parliamentary and communication systems. Speaking at the closi
Published 05 Jun, 2014 12:00am
Mobilink Rising Star Competition 2014 regional finals conclude

Mobilink Rising Star Competition 2014 regional finals conclude

Mobilink Rising Star Competition 2014 regional finals concluded in Islamabad, Lahore and Topi (Khyber Pakhtunkhwa). The inter-university competition was held between HEC recognised institutes from across Pakistan aimed at providing students with an opport
Published 05 Jun, 2014 12:00am
Khyber Pakhtunkhwa government traces extortionists' network: Khattak

Khyber Pakhtunkhwa government traces extortionists' network: Khattak

KP Chief Minister Pervez Khattak Wednesday said that network of extortionists have been traced and the crackdown being undertaken for bringing all such gangs to task would be not only result oriented but the people especially traders community would witne
Published 05 Jun, 2014 12:00am
FAA delegation visits BankIslami head office

FAA delegation visits BankIslami head office

A delegation of Finance Accreditation Agency (FAA) Malaysia headed by its CEO Dr Amat Taap Manshor visited BankIslami Pakistan head office for the proposed accreditation of BankIslami's Islamic banking training programme. FAA is an international and indep
Published 05 Jun, 2014 12:00am
Mehmood Arshad re-appointed chairman FPCCI body

Mehmood Arshad re-appointed chairman FPCCI body

FPCCI President Zakarya Usman has reappointed Mehmood Arshad as Chairman of FPCCI Standing Committee on Islamic Banking & Takaful for the year 2014, in recognition of his services as chairman of the committee during preceding year. He rendered valuable co
Published 05 Jun, 2014 12:00am
NUST to organise workshop

NUST to organise workshop

NUST is hosting a week-long workshop on Entrepreneurship for Scientists and Engineers at its Centre for Innovation and Entrepreneurship (CIE). The workshop is being conducted in collaboration with the US Department of State, USAID, Higher Education Commis
Published 05 Jun, 2014 12:00am
OICCI hails budget

OICCI hails budget

The Overseas Investors Chamber of Commerce and Industry (OICCI) has appreciated the 2014 budget proposals announced on June 3. "The government plan for 2014-15 to reduce the fiscal deficit to below 5 percent, increase the tax collection by 24 percent and
Published 05 Jun, 2014 12:00am
Erra to complete 69: IDB-funded projects in Hazara Division

Erra to complete 69: IDB-funded projects in Hazara Division

Earthquake Reconstruction, Rehabilitation Authority (Erra) has set a target to complete 69 development projects funded by Islamic Development Bank, costing US $93 million in 11 months in three districts of Hazara Division, Khyber Pakhtunkhwa. In a monthly
Published 05 Jun, 2014 12:00am
CoAS meets senior Chinese official

CoAS meets senior Chinese official

Vice Chairman of China's Central Military Commission Fan Changlong met on Wednesday with visiting Pakistani Chief of Army Staff General Raheel Sharif. Calling Pakistan a "true friend" of China, Fan said the development of bilateral "all-weather friendship
Published 05 Jun, 2014 12:00am
PHDEC's inaction hurting mango export

PHDEC's inaction hurting mango export

While the Ministry of National Food Security and Research (NFS&R), Department of Plant Protection, and All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) are up jointly to stall European Union's warning to stop the impo
Published 05 Jun, 2014 12:00am
TV programme: hearing adjourned till June 10

TV programme: hearing adjourned till June 10

The Supreme Court on Wednesday adjourned the proceedings of a case regarding the broadcast of a programme by a private television channel till June 10. A three-member bench headed by Justice Ejaz Afzal Khan resumed the hearing of a petition filed by Indep
Published 05 Jun, 2014 12:00am
NAB arrests former secretary HERA for alleged embezzlement

NAB arrests former secretary HERA for alleged embezzlement

National Accountability Bureau (NAB) Khyber-Pakhtunkhwa on Wednesday arrested accused Gulzar Ali, ex-secretary to Chairman Higher Education Regulatory Authority (HERA), allegedly involved in embezzlement of public money by depositing the same in his perso
Published 05 Jun, 2014 12:00am
120 MMCFD of additional gas to be added to system

120 MMCFD of additional gas to be added to system

The Sui-Southern Gas Company Limited (SSGCL) will add 120 Million Cubic Feet per Day (MMCFD) of additional gas to the system within next few months. According to official sources in the company, within next couple of days SSGCL is to connect Zarghoon Gas
Published 05 Jun, 2014 12:00am
McDonald's wins Best Customer Service Award

McDonald's wins Best Customer Service Award

McDonald's Pakistan was awarded the Best Customer Service Award in Food and Beverage Segmentat the Service Punch 2014 organised by Active8. Service Punch is Pakistan's first ever Service Awards conference to honour organisations that are committed to ensu
Published 05 Jun, 2014 12:00am
Khyber Pakhtunkhwa Governor slams suicide attack in Rawalpindi

Khyber Pakhtunkhwa Governor slams suicide attack in Rawalpindi

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has strongly condemned the suicide attack in Rawalpindi on Wednesday and expressed his deep shock and sorrow over the loss of precious lives. Expressing his deep sympathies with members of the bereaved
Published 05 Jun, 2014 12:00am
Messi world's most valuable player

Messi world's most valuable player

Barcelona and Argentina star Lionel Messi remains the world's most valuable footballer, even though his crown slipped this season, a market study showed on Wednesday. In its annual report on the player market, the Swiss-based CIES Football Observatory put
Published 05 Jun, 2014 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded August copper contract on the Shanghai Futures Exchange fell 1.1 percent to 48,120 yuan ($7,700) a tonne on Wednesday. A private sector survey showed an improvement in China's factory activity, but overall factory growth was still contract
Published 05 Jun, 2014 12:00am
Cotton group ramps up efforts to stamp out contract defaults

Cotton group ramps up efforts to stamp out contract defaults

The International Cotton Association may expel members that deal with companies blacklisted for defaulting on contracts, the trade group said on Wednesday, the latest change in 150-year-old rules aimed at stamping out a problem that accelerated three year
Published 05 Jun, 2014 12:00am
Assad wins Syria's election

Assad wins Syria's election

Syria's President Bashar al-Assad won a controversial election held in regime-controlled territory with a sweeping 88.7 percent of the vote, parliament speaker Mohammad al-Lahham announced late on Wednesday. The other two candidates won 4.3 percent and 3.
Published 05 Jun, 2014 12:00am
Irish author wins top Spanish literary award

Irish author wins top Spanish literary award

Irish author John Banville, best known for his crime novels written under the pseudonym of Benjamin Black, has been awarded Spain's prestigious Prince of Asturias literature award, the prize jury said on Wednesday. The 68-year-old edged out 23 other conte
Published 05 Jun, 2014 12:00am
Music company loses rights to Bob Marley songs

Music company loses rights to Bob Marley songs

A music company on Wednesday lost a court battle in Britain to retain the lucrative rights over 13 songs by Jamaican reggae legend Bob Marley, including his hit "No Woman, No Cry". Cayman Music had launched the challenge against Blue Mountain Music - a co
Published 05 Jun, 2014 12:00am
EU 'deeply concerned' by threat of North Korea nuclear test

EU 'deeply concerned' by threat of North Korea nuclear test

The EU said Wednesday it was "deeply concerned" about the threat of a new nuclear test by North Korea, which has stepped up activity at one of its main test sites. Pyongyang said earlier this year that it did not rule out a fourth nuclear test, to counter
Published 05 Jun, 2014 12:00am
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