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Dec 04, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-06-27
Sterling rises above $1.70

Sterling rises above $1.70

Sterling rose on Thursday before a Bank of England financial stability report which is likely to contain measures to cool the UK's housing market, adding fuel to the debate over when a hike in interest rates will come. BoE Governor Mark Carney has warned
Published 27 Jun, 2014 12:00am
Gay free to run as IAAF elects not to appeal

Gay free to run as IAAF elects not to appeal

World athletics' governing body, the IAAF, announced Thursday that it would not appeal the reduced one-year sanction for doping served by American sprinter Tyson Gay. Gay was banned in June 2013 after testing positive for a banned anabolic steroid in two
Published 27 Jun, 2014 12:00am
Punjab government to establish gymnasia, sports complexes

Punjab government to establish gymnasia, sports complexes

Provincial Minister for Education, Sports, Law and Tourism Rana Mashhood Ahmad Khan said Punjab government vows to focus on establishing gymnasia and sports complexes in all 137 tehsils of the province in the days to come. "The government has already prov
Published 27 Jun, 2014 12:00am
Next ICC President to be from Pakistan

Next ICC President to be from Pakistan

Pakistan has made extraordinarily significant gains at the International Cricket Council's (ICC) annual meeting at Melbourne on Thursday. Of the three major concessions that PCB Chairman Najam Sethi was able to secure to Pakistan's great advantage one is
Published 27 Jun, 2014 12:00am
Srinivasan's 'conscience clear' as elected new ICC chairman

Srinivasan's 'conscience clear' as elected new ICC chairman

Controversial Indian cricket chief N. Srinivasan said his conscience was clear after being elected Thursday as the new ICC chairman despite figuring in a corruption inquiry. The powerful industrialist was appointed despite being suspended by India's Supre
Published 27 Jun, 2014 12:00am
Germany and US sail into knockout stages

Germany and US sail into knockout stages

Thomas Mueller's second-half goal saw Germany sail to a 1-0 victory over the United States in World Cup Group G on Thursday, a result that saw both teams progress to the knockout stage of the tournament. Germany top the group and will face the runner-up i
Published 27 Jun, 2014 12:00am
Ruthless Sharapova continues smooth progress

Ruthless Sharapova continues smooth progress

Maria Sharapova put in a business-like performance to cast aside qualifier Timea Bacsinszky 6-2 6-1 in only an hour on her way to the third round at Wimbledon. The fifth seed showed the sort of ruthless precision that won her the French Open title this mo
Published 27 Jun, 2014 12:00am
Nadal fights off bogeyman Rosol, Serena on a roll

Nadal fights off bogeyman Rosol, Serena on a roll

World number one Rafael Nadal pulled back from the abyss to reach the Wimbledon third round on Thursday just when it looked as though bogeyman Lukas Rosol had returned to haunt him. Two years after being knocked out at the same stage by the hard-hitting C
Published 27 Jun, 2014 12:00am
Swiss beat Honduras to set up Messi date

Swiss beat Honduras to set up Messi date

Switzerland's Xherdan Shaqiri erased his side's lingering World Cup pain in Manaus on Wednesday, scoring a hat-trick to see off Honduras 3-0 and secure a daunting last-16 tie against Lionel Messi's Argentina. Four years ago the Central Americans denied Sw
Published 27 Jun, 2014 12:00am
France fire blanks, Ecuador eliminated

France fire blanks, Ecuador eliminated

Ten-man Ecuador held France to a 0-0 draw at the Maracana on Wednesday but Didier Deschamps' side still topped Group E to progress to a last-16 tie against Nigeria. Through luck, determination, bad finishing and excellent goalkeeping by Alexander Domingue
Published 27 Jun, 2014 12:00am
World Cup over for Suarez after record ban for biting

World Cup over for Suarez after record ban for biting

Uruguay's Luis Suarez was hit with the biggest ban imposed at a World Cup on Thursday as FIFA threw the book at one of soccer's most talented but controversial players for biting an opponent. The sport's governing body suspended Suarez from all football-r
Published 27 Jun, 2014 12:00am
Peres receives US Congressional Gold Medal

Peres receives US Congressional Gold Medal

Outgoing Israeli President Shimon Peres on Thursday received the Congressional Gold Medal in the US Capitol rotunda, as he bids farewell to Washington after decades of working with American leaders. The 90-year-old Peres, who will leave office next month,
Published 27 Jun, 2014 12:00am
Gunmen briefly seize Yemen airport in deadly assault

Gunmen briefly seize Yemen airport in deadly assault

Suspected al Qaeda gunmen briefly seized a Yemeni airport in a deadly assault Thursday, just as a civilian airliner was landing, before the airfield was retaken by the army, officials said. They gunned down three soldiers at the entrance to Sayun airport
Published 27 Jun, 2014 12:00am
US teen pilot reaches India in around-the-world tour

US teen pilot reaches India in around-the-world tour

A 19-year-old American attempting to become the youngest person ever to fly around the world solo reached India Thursday, more than a month into his aerial odyssey. Matt Guthmiller, a student at the Massachusetts Institute of Technology (MIT), smiled and
Published 27 Jun, 2014 12:00am
'Terrorist plague' tops agenda at African Union summit

'Terrorist plague' tops agenda at African Union summit

African leaders gathered Thursday for a summit dominated by fears over a rise in extremist groups sowing terror across the continent. From the Sahel to Nigeria, central and east Africa, armed Islamist groups carry out attacks, kidnappings and chilling mas
Published 27 Jun, 2014 12:00am
Google starts 'forgetting' things in Europe

Google starts 'forgetting' things in Europe

Google on Thursday said that it is "forgetting" things in Europe to comply with a legal ruling granting people the power to have certain information about them removed from searches. "This week, we're starting to take action on the removal requests that w
Published 27 Jun, 2014 12:00am
Rebels attack Ukraine military compound despite truce

Rebels attack Ukraine military compound despite truce

Pro-Russian rebels launched an attack on Thursday on a Ukrainian irregular troops unit in the heart of the eastern industrial city of Donetsk, an AFP reporter at the scene said. At least 200 gunmen surrounded a compound housing a unit of Ukraine's Nationa
Published 27 Jun, 2014 12:00am
US gives Russia 'hours' to ease Ukraine crisis

US gives Russia 'hours' to ease Ukraine crisis

The United States warned Russia on Thursday it had only "hours" to prove it was helping disarm Ukrainian insurgents whose tenuous truce with Kiev was due to expire by the weekend. US Secretary of State John Kerry's ultimatum was delivered a day before Ukr
Published 27 Jun, 2014 12:00am
Eight stabbed at international airport in Bolivia

Eight stabbed at international airport in Bolivia

Eight people were hurt when a man with suspected mental problems went on a frenzied stabbing spree at the international airport in the Bolivian city of La Paz on Thursday, police and press reports said. A police sergeant who arrested the 40-year-old suspe
Published 27 Jun, 2014 12:00am
'Great Conciliator' Howard Baker dies

'Great Conciliator' Howard Baker dies

Howard Baker, a former Senate majority leader and presidential contender known for his ability to achieve compromise across the political aisle, died on Thursday. He was 88. Baker became the first Republican leader of the Senate in 26 years when he took t
Published 27 Jun, 2014 12:00am
North Korea fires short-range projectiles into sea

North Korea fires short-range projectiles into sea

North Korea fired three short-range projectiles into the sea Thursday in an apparent show of force ahead of an expected visit by Chinese President Xi Jinping to South Korea. The projectiles were launched from the North's eastern port of Wonsan and flew 19
Published 27 Jun, 2014 12:00am
Two Koreas resume talks on Kaesong industrial park

Two Koreas resume talks on Kaesong industrial park

North and South Korea resumed talks Thursday on managing their Kaesong joint industrial zone after a six-month hiatus caused by rising cross-border tensions, but appeared to make little headway. The two Koreas set up a joint committee to run Kaesong after
Published 27 Jun, 2014 12:00am
India's new government accused of interfering with judicial independence

India's new government accused of interfering with judicial independence

India's new prime minister, Narendra Modi, faces accusations his government ran a campaign to block the appointment of a Supreme Court judge it believed was biased against it, fuelling a debate about judicial independence in the world's largest democracy.
Published 27 Jun, 2014 12:00am
Syria not the answer to Iraq turmoil: US

Syria not the answer to Iraq turmoil: US

The United States said Thursday it opposed a role by Syria in resolving Iraq's turmoil after President Bashar al-Assad's government was said to have carried out air strikes against militants. Iraqi Prime Minister Nuri al-Maliki, facing Sunni extremists wh
Published 27 Jun, 2014 12:00am
China's rubber stocks fall

China's rubber stocks fall

Rubber stocks in bonded warehouses in China's Qingdao port have fallen about a tenth from a peak in May, partly on reduced demand for the commodity as a loan collateral after a fraud investigation at the port, industry sources said. The drying up of rubbe
Published 27 Jun, 2014 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most-traded September copper contract on the Shanghai Futures Exchange climbed 1 percent to 49,830 yuan ($8,000) a tonne on Thursday, after earlier touching its highest since late February. Copper has clawed back nearly 10 percent from more than three
Published 27 Jun, 2014 12:00am
Tin hits four-month low, copper retreats

Tin hits four-month low, copper retreats

Tin prices slipped to their lowest in more than four months on Thursday despite forecasts of deficits, while copper pulled back after touching a new peak. At the start of the year, most analysts tipped tin for price gains as supply was expected to fall sh
Published 27 Jun, 2014 12:00am
Crude sheds $1, Brent falls

Crude sheds $1, Brent falls

US crude lost over a dollar and Brent slipped on Thursday as fears eased over export disruptions from war-ravaged Iraq, Opec's second-largest producer. "The economy is on tenterhooks and oil prices are very high," said Stephen Schork, editor of the Schork
Published 27 Jun, 2014 12:00am
Rubber rises

Rubber rises

Benchmark Tokyo rubber futures rose 0.1 percent on Thursday, helped by strength in Shanghai futures amid a better outlook for the world's No 2 economy. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December delivery rose 0.2 ye
Published 27 Jun, 2014 12:00am
Wheat bounces off four-month low

Wheat bounces off four-month low

US wheat futures rose as buyers entered the market after prices hit a four-month low on Wednesday, while corn futures slipped for a third consecutive session on expectations for a bumper US harvest. Wheat rebounded after crumbling recently under sustained
Published 27 Jun, 2014 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures ended lower on Thursday to snap a three-day winning streak as crude oil prices began to ease, although losses were capped by an uptick in exports and anticipation that hot weather would trim palm output. The benchmark September
Published 27 Jun, 2014 12:00am
ICE sugar surges

ICE sugar surges

ICE raw sugar futures were mostly higher on Thursday, following mixed harvest data from top grower Brazil, where dry weather aided the cane crush but risked future yields, while the spot contract's discount widened to a four-month low ahead of expiry. Ara
Published 27 Jun, 2014 12:00am
Gold soars in New York

Gold soars in New York

Gold rose slightly on Wednesday after US growth data came in weaker than expected, hitting the dollar, but bullion's failure to extend gains suggested some investors were taking profits after prices hit a two-month high in the previous session, traders sa
Published 27 Jun, 2014 12:00am
Gold slips in Asia

Gold slips in Asia

Gold slipped on Thursday as stronger equities dented the metal's safe-haven appeal and investors largely shrugged off weak US economic growth numbers in favour of more recent data. Spot gold fell 0.2 percent to $1,316.60 an ounce by 0640 GMT, after rising
Published 27 Jun, 2014 12:00am
Gold pares losses

Gold pares losses

Gold pared losses on Thursday after US data put pressure on Treasury yields, though it remained below this week's two-month high as a firmer tone to equities suggested investors were switching back into assets offering a better return. The precious metal
Published 27 Jun, 2014 12:00am
US MIDDAY: soyabeans up

US MIDDAY: soyabeans up

US soyabean futures rose early on Thursday as stronger-than-expected export sales re-ignited concerns about dwindling old-crop supplies. Corn futures advanced for the first time in four sessions, while wheat gained for the second straight session, bouncin
Published 27 Jun, 2014 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell early on Thursday as US consumer spending data and sliding crude oil prices sent prices below a two-month high earlier this week, and a lack of investment interest could further pressure the precious metal, analysts said. Bullion fell after US g
Published 27 Jun, 2014 12:00am
ICE cotton hits 1-1/2-year low on weak weekly US export data

ICE cotton hits 1-1/2-year low on weak weekly US export data

Cotton futures in New York dropped to their lowest price since December 2012 on Thursday after disappointing weekly US government export data sparked heavy selling in another day of volatile trade. The benchmark December cotton contract on ICE Futures US
Published 27 Jun, 2014 12:00am
Sindhi nationalists warn government of protests against influx of IDPs

Sindhi nationalists warn government of protests against influx of IDPs

Sindh National Party (SNP) and Jeay Sindh Qaumi Mahaz (JSQM) have warned the government of launching protests and sit-ins against the possible influx of Internally Displaced Persons (IDPs) of North Waziristan in the province. Talking to Business Record
Published 27 Jun, 2014 12:00am
Fares cut by 10 percent: Railways announces special Ramazan package

Fares cut by 10 percent: Railways announces special Ramazan package

In order to attract commuters, Pakistan Railways (PR) has announced a special Ramazan Package in Business Class, AC Parlor, Economy and AC Standard class by reducing fares from June 25 to August 31. "The trains which accommodate air-conditioned and busine
Published 27 Jun, 2014 12:00am
PII to translate insurance books into Urdu

PII to translate insurance books into Urdu

Pakistan Insurance Institute (PII) has initiated a project to translate basic insurance books into Urdu so as to help increase penetration rate of Insurance in the country. The insurance penetration rate has remained at 0.9 per cent in the last couple of
Published 27 Jun, 2014 12:00am
Domki visits Habibullah Coastal Power Company plant

Domki visits Habibullah Coastal Power Company plant

Minister for Labour, Manpower and Social Welfare, Sardar Sarfaraz Domki, paid a visit to Habibullah Coastal Power Company's power plant during last week. He met the Senior Management of the Company and the plant operations team. He appreciated the perform
Published 27 Jun, 2014 12:00am
Minister complains of meeting with Prime Minister being delayed

Minister complains of meeting with Prime Minister being delayed

Minister for Defence Production Rana Tanveer Hussain expressed his inability on Thursday to proceed with numerous vital projects of his ministry as a meeting with the prime minister has become an uphill task due to his tight schedule. He disclosed this wh
Published 27 Jun, 2014 12:00am
NA-122: LHC extends stay

NA-122: LHC extends stay

The Lahore High Court here on Thursday extended its stay till July 07 against proceedings by an election tribunal in response to an appeal of PTI chairman Imran Khan for vote recount in NA-122, Lahore. The petitioner, Speaker National Assembly Sardar Ayaz
Published 27 Jun, 2014 12:00am
About 600,000 Pakistani workers migrated to GCC countries: ILO

About 600,000 Pakistani workers migrated to GCC countries: ILO

The Ministry of Overseas Pakistanis in collaboration with International Labour Organisation (ILO) on Thursday arranged a day-long national conference on skills in demand in the GCC countries "Challenges and Opportunities for Pakistan". Minister for Overse
Published 27 Jun, 2014 12:00am
KSE seeks lifting of ban on NDM transactions

KSE seeks lifting of ban on NDM transactions

Calling for lifting of ban on Negotiated Dealing Market (NDM) transactions, the Karachi Stock Exchange (KSE) has asked the Securities and Exchange Commission of Pakistan (SECP to take regulatory measures instead of imposing a ban on the whole system. Sour
Published 27 Jun, 2014 12:00am
Farzana's murder case: Supreme Court adjourns hearing

Farzana's murder case: Supreme Court adjourns hearing

The Supreme Court on Thursday adjourned hearing of Farzana Bibi murder case, a pregnant woman who was stoned to death in the name of honour in the premises of LHC, for indefinite time. A three-member bench led by Chief Justice Tassaduq Hussain Jillani hea
Published 27 Jun, 2014 12:00am
Gorakh Hills gets insufficient funds in budget

Gorakh Hills gets insufficient funds in budget

Gorakh Hills station has failed to get priority in recently announced Sindh budget, despite having capability of generating millions of revenue for the provincial government. Sindh government in its budget for the fiscal 2013-2014 has allocated Rs 300 mil
Published 27 Jun, 2014 12:00am
Power sector blighted by lack of transparency, accountability

Power sector blighted by lack of transparency, accountability

Power sector's performance will remain poor until decision makers reform the sector in a transparent manner and give autonomy to a politicised regulator. Background interviews with power sector officials and experts suggest that the Ministry of Water and
Published 27 Jun, 2014 12:00am
Zero tax rating for dairy sector products

Zero tax rating for dairy sector products

The federal budget 2014-15 has brought relief for the dairy sector as the latter will continue to enjoy zero tax rating (which means that the industry is able to claim taxes on input costs from the government). According to industry sources, this move wil
Published 27 Jun, 2014 12:00am
Policy Note issued: CCP focuses on GIDC levy and not gas cut: experts

Policy Note issued: CCP focuses on GIDC levy and not gas cut: experts

The focus of the Competition Commission of Pakistan's (CCP) Policy Note is the discriminatory levy of the Gas Infrastructure Development Cess (GIDC) on fertiliser plants and not gas curtailment. Experts told Business Recorder here on Thursday that
Published 27 Jun, 2014 12:00am
HCCI delegation calls on Abid Sher

HCCI delegation calls on Abid Sher

Hyderabad Chamber of Commerce and Industry delegation led by its President Goharullah Khan called on State Minister for Water and Power, Abid Sher Ali and Prime Minister's Advisor Dr Mian Muhammad Musadiq, here on Thursday. The HCCI president told the min
Published 27 Jun, 2014 12:00am
Senator slams government for not taking action against tax evaders

Senator slams government for not taking action against tax evaders

Senator Abdul Haseeb Khan has criticised the government for not taking initiatives aimed at broadening tax net in budget 2014-15. He said that the government has record of around 39,00,000 privileged class people who despite having big houses, luxury cars
Published 27 Jun, 2014 12:00am
Senate panel visits LNG terminal to review progress

Senate panel visits LNG terminal to review progress

The Standing Committee of Senate visited Engro's proposed LNG terminal site on Thursday to review and discuss the progress on Pakistan's first LNG import infrastructure. While giving a briefing, Elengy Terminal Pakistan Limited (ETPL) appraised the delega
Published 27 Jun, 2014 12:00am
Nation stands united against terrorists: President

Nation stands united against terrorists: President

President Mamnoon Hussain on Thursday said the government and armed forces were fully determined for the complete elimination of terrorism in the country and the whole nation stood united to support the action against terrorist elements." Despite enormity
Published 27 Jun, 2014 12:00am
PBIT hosts EU team meeting with ministers

PBIT hosts EU team meeting with ministers

Punjab Board of Investment and Trade (PBIT), being the focal organisation for GSP plus, hosted the European Union (EU) delegation meeting with provincial ministers. The meeting was held at the Punjab Assembly and was attended by the Provincial Minister In
Published 27 Jun, 2014 12:00am
Helicopter crash: funeral prayers of martyred pilots offered in Multan

Helicopter crash: funeral prayers of martyred pilots offered in Multan

The funeral prayers of Major Yasir and Captain Murtaza were offered on Thursday. Pilot Major Yasir and co-pilot Captain Murtaza embraced martyrdom when an army helicopter crashed at Multan Airport on Wednesday. The prayers for pilot and co-pilot, Major Ya
Published 27 Jun, 2014 12:00am
Polio eradication drive begins for IDPs children

Polio eradication drive begins for IDPs children

As residents of North Waziristan Agency (NWA) have begun migrating to Khyber Pakhtunkhwa and other settled areas of the country due to the Zarb-i-Azb military operation, health officials have begun polio vaccination of thousands of children. An official l
Published 27 Jun, 2014 12:00am
SU announces results

SU announces results

The Controller of Examinations University of Sindh Professor Dr Naeem Tariq Narejo has announced the results of MSc (Previous & Final) Rural Development under External Program, annual examinations 2013. According to a press statement issued here from Publ
Published 27 Jun, 2014 12:00am
Cricket affairs: Court seeks Zaka's response to allegations

Cricket affairs: Court seeks Zaka's response to allegations

The Supreme Court on Thursday sought a response from former chairman Pakistan Cricket Board (PCB) Zaka Ashraf to alleged embezzlement and illegal appointments in the PCB during his tenure. A two-member bench of the apex court headed by Justice Anwar Zahee
Published 27 Jun, 2014 12:00am
Cricket affairs: Court seeks Zaka's response to allegations

Cricket affairs: Court seeks Zaka's response to allegations

The Supreme Court on Thursday sought a response from former chairman Pakistan Cricket Board (PCB) Zaka Ashraf to alleged embezzlement and illegal appointments in the PCB during his tenure. A two-member bench of the apex court headed by Justice Anwar Zahee
Published 27 Jun, 2014 12:00am
Prime Minister's relief fund: KP Governor donates one month's salary

Prime Minister's relief fund: KP Governor donates one month's salary

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan, has announced to donate his one month's salary to the Prime Minister's Relief Fund meant for mitigating the miseries of the IDPs from South Waziristan. Meanwhile, the Governor has also declared to sur
Published 27 Jun, 2014 12:00am
PTA body chief urges government to exempt exporters from GIDC

PTA body chief urges government to exempt exporters from GIDC

Chairman Pakistan Tanners Association's (PTA) standing committee on gas and infrastructure, Usman Umer, has urged the government to exempt exporters, particularly those belonging to leather industry, from the Gas Infrastructure Development Cess (GIDC). In
Published 27 Jun, 2014 12:00am
41 FBR officials promoted

41 FBR officials promoted

The Federal Board of Revenue (FBR) has promoted 41 BS-18 officers of Pakistan Customs Service to the post of Additional Collectors (BS-19) with immediate effect. According to a notification issued here on Thursday, the following BS-18 officers of Pakistan
Published 27 Jun, 2014 12:00am
KP to unveil comprehensive environment policy next month: Khattak

KP to unveil comprehensive environment policy next month: Khattak

KP Chief Minister Pervez Khattak has declined lifting ban on any kind of forest cutting, saying that a comprehensive environment policy has been prepared for increase in forest covered area and scientific cutting of trees in the province. The policy, he s
Published 27 Jun, 2014 12:00am
S.R.O.565 (I)/2006: IOCO empowered to deal with importers' issues

S.R.O.565 (I)/2006: IOCO empowered to deal with importers' issues

The Federal Board of Revenue (FBR) has taken away the powers from Collectors of Customs for determining annual requirement/quantitative entitlement of exempted inputs/raw materials to be consumed by importers-cum-manufacturers for manufacturing goods and
Published 27 Jun, 2014 12:00am
Booking of vehicles: Senate body irked by 'own money'

Booking of vehicles: Senate body irked by 'own money'

Senate Standing Committee on Industries and Production on Thursday sought details of five-year principal payments, 'own-money', and booking of vehicles from three local assemblers. Presided over by Senator Mushahid Ullah Khan, the meeting was attended by
Published 27 Jun, 2014 12:00am
KCR project is no more on JICA's priority list: Senate body told

KCR project is no more on JICA's priority list: Senate body told

The fate of Karachi Circular Railway (KCR) project still hangs in the balance as it is no more in the priority list of Japan International Cooperation Agency (JICA) due to unresolved issue of resettlement of encroachers. This was stated by Chairman/Secret
Published 27 Jun, 2014 12:00am
Restaurant case: SHC orders CAA officials to submit reply

Restaurant case: SHC orders CAA officials to submit reply

The Sindh High Court (SHC) on Thursday directed director general Civil Aviation Authority (CAA), airport manager Jinnah International Airport and senior manager (commercial) CAA to submit their respective explanations for flouting its order. A division be
Published 27 Jun, 2014 12:00am
Army successfully moving forward to eliminate terrorists: Janjua

Army successfully moving forward to eliminate terrorists: Janjua

Commander Southern Command, Lieutenant General Nasser Khan Janjua has said that Army was successfully moving forward to purge the Waziristan from terrorists. Addressing at the passing out parade of the Police personnel, completed under the supervision of
Published 27 Jun, 2014 12:00am
Three killed in different incidents

Three killed in different incidents

At least three people were killed and four others injured in different incidents of violence while police claimed to have arrested three criminals, here on Thursday. According to police and rescue sources, an alleged dacoit was killed by citizens in Orang
Published 27 Jun, 2014 12:00am
Peace and economic growth

Peace and economic growth

How ironic it is that when Lahore Chamber of Commerce and Industry (LCCI) has praised the Punjab government for making serious efforts towards reviving economic activities in a meaningful manner, the business community of Karachi is running from pillar to
Published 27 Jun, 2014 12:00am
Looking for a place to live in DR Congo?

Looking for a place to live in DR Congo?

In a Congolese cemetery overrun with weeds and rubbish strewn among the graves and banana trees, the living have moved in with the dead - some of them years ago. For want of money and space, families have built houses out of earth, brick or sheet metal al
Published 27 Jun, 2014 12:00am
US healthcare profit outlook brightens on Obamacare, drug prices

US healthcare profit outlook brightens on Obamacare, drug prices

US healthcare companies are winning higher profit forecasts, bucking a wider trend on Wall Street, as pricey new biotech drugs hit the market and insurance enrolment rises under the Affordable Care Act. Analysts' profit expectations for the group have ris
Published 27 Jun, 2014 12:00am
Finance Act 2014 Apathy continues

Finance Act 2014 Apathy continues

The adoption of Finance Bill 2014 on June 21, 2014 using the crude tool of majoritarianism, ignoring sound tax policy needs, once again confirmed disrespect of the rulers for a responsible democratic dispensation. It also proved their apathy towards the e
Published 27 Jun, 2014 12:00am
ISIL not focusing on Udoo al-Baeed

ISIL not focusing on Udoo al-Baeed

As expected, US Secretary of State John Kerry's meeting with Iraqi prime minister Nouri al-Maliki and other relevant stakeholders in Baghdad has only added to the confusion now spawning Washington and some other Western capitals over the feared break-up o
Published 27 Jun, 2014 12:00am
Leakages from the tax system

Leakages from the tax system

Under-invoicing of imports from the United Arab Emirates (UAE) is costing the exchequer around 150 billion rupees per annum, according to research carried out by Pakistan Business Council - accounting for 25 percent (around 600 billion rupees) of total an
Published 27 Jun, 2014 12:00am
Security beefed up at Islamabad airport

Security beefed up at Islamabad airport

The law enforcement agencies have further beefed up security in and around Benazir International Airport after a passenger flight of Pakistan International Airlines (PIA) came under attack at Bacha Khan International Airport Peshawar on Tuesday night, kil
Published 27 Jun, 2014 12:00am
CM Punjab gives approval to Rs 5 billion Ramazan Package

CM Punjab gives approval to Rs 5 billion Ramazan Package

Punjab Chief Minister Muhammad Shahbaz Sharif has given final approval to the Ramazan Package of five billion rupees for the provision of flour and other essential items to the masses at concessionary rate during the holy month of Ramzan. He was presiding
Published 27 Jun, 2014 12:00am
Model Town tragedy: Qadri convenes APC on June 29

Model Town tragedy: Qadri convenes APC on June 29

Pakistan Awami Tehreek (PAT) leader, Dr Tahir-ul-Qadri, has dispelled the speculations that he is going to make a grand political alliance of opposition parties saying "toppling the government is not his agenda". He was talking to newsmen after having a m
Published 27 Jun, 2014 12:00am
EU official visits APTMA Punjab office

EU official visits APTMA Punjab office

Head of the GSP unit in DG Trade Brussels Nikolaos Zaimis visited APTMA Punjab on Thursday and discussed the business and investment climate as well as trade prospects for Pakistan under the GSP plus. Acting Chairman APTMA Punjab Syed Ali Ahsan welcomed h
Published 27 Jun, 2014 12:00am
IDPs' sacrifices won't go in vain: KP Governor

IDPs' sacrifices won't go in vain: KP Governor

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan, has said that the nation bears great regard and respect to displaced tribal families from NWA who had left their hearth and home for a national cause and ensuring security of the country and their sac
Published 27 Jun, 2014 12:00am
Stoppage of payments, pensions: Punjab Ombudsman seeks report today

Stoppage of payments, pensions: Punjab Ombudsman seeks report today

Accountant General Punjab and Finance Department has stopped payments of provincial and district governments, employees and vendors of Dera Ghazi Khan amounting to more than Rs 1 billion since June 9, 2014. Taking notice of this illegal stoppage of these
Published 27 Jun, 2014 12:00am
Violation of party discipline: PTI KP removes three office-bearers

Violation of party discipline: PTI KP removes three office-bearers

Pakistan Tehreek-e-Insaf (PTI) Khyber Pakhtunkhwa has removed its Vice President, Dr Nadeem Alam, Joint Secretary, Rehmanullan and Secretary Culture, Mohib Wali from their offices and suspended their basic party membership for violation of party disciplin
Published 27 Jun, 2014 12:00am
PACRA maintains ratings of Pak-Libya Holding Company

PACRA maintains ratings of Pak-Libya Holding Company

The Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term and short-term ratings of Pak-Libya Holding Company Pvt Ltd (PLHC) at "AA-" (Double A minus) and "A1+" (A one Plus), respectively. According to a press release, the rating of e
Published 27 Jun, 2014 12:00am
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