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Print - 2014-07-03
Sethi meets Prime Minister

Sethi meets Prime Minister

Pakistan Cricket Board Chairman Najam Sethi called on the Prime Minister Nawaz Sharif on Tuesday at PM House. Prime Minister appreciated the state of affairs in the Cricket Board and reiterated his full support to the board in bringing back international
Published 03 Jul, 2014 12:00am
EFU General Insurance

EFU General Insurance

EFU General Insurance was incorporated in September 1932 by Ghulam Mohammad along with the mutual aid of Aga Khan III and the Nawab of Mughal. Also, the company is renowned as the mother of other insurance organisations of EFU Group.
Published 03 Jul, 2014 12:00am
EFU General Insurance

EFU General Insurance

EFU General Insurance was incorporated in September 1932 by Ghulam Mohammad along with the mutual aid of Aga Khan III and the Nawab of Mughal. Also, the company is renowned as the mother of other insurance organisations of EFU Group.
Published 03 Jul, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (July 02, 2014) and for Thursday (July 03, 2014).
Published 03 Jul, 2014 12:00am
Security-related issues: Afghan military team to visit today

Security-related issues: Afghan military team to visit today

A high-level Afghan military delegation is arriving today (Thursday) in the backdrop of the recent visit by Afghan National Security Adviser Dr Rangin Spanta to discuss security-related issues and ways for better border management following the series of
Published 03 Jul, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 03 Jul, 2014 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 03 Jul, 2014 12:00am
SHC seeks JIT report on student's detention under PPA

SHC seeks JIT report on student's detention under PPA

The Sindh High Court (SHC) on Wednesday directed counsel for Rangers to submit a report of Joint Investigation Team (JIT) probing the matter pertaining to detention of a student by paramilitary forces under Pakistan Protection Act. A division bench headed
Published 03 Jul, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Arms licence revalidation extended

Arms licence revalidation extended

In order to facilitate the public, the Ministry of Interior has extended the date for revalidation /Conversion of arms licence booklet into Computerised Arms licence up to 31st of December, 2014. A notification issued by the Ministry said the licences iss
Published 03 Jul, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
The Weather

The Weather

The weather report on Wednesday (July 02, 2014) and the forecast for Thursday (July 03, 2014).

Published 03 Jul, 2014 12:00am
Punjab government asked to appoint permanent AG within two weeks

Punjab government asked to appoint permanent AG within two weeks

A full bench of the Lahore High Court here on Wednesday ordered Punjab government to appoint a permanent Advocate General within two weeks. The bench headed by Justice Syed Mansoor Ali Shah, passed this order in a petition filed by Advocate Rab Nawaz Dhad
Published 03 Jul, 2014 12:00am
Model Town tragedy: 'two police teams investigating independently'

Model Town tragedy: 'two police teams investigating independently'

Two different investigation teams constituted by the government are independently operating and inquiring into the Model Town tragedy, Inspector General Police Punjab Mushtaq Sukhera said here on Wednesday. He said the joint investigation team (JIT) which
Published 03 Jul, 2014 12:00am
Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit and dividend by foreign investors crossed $1 billion mark during first 11 months of fiscal year 2013-2014 (FY14), following improved economic activity and rising profitability of companies. Sources in banking industry told Busine
Published 03 Jul, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit and dividend by foreign investors crossed $1 billion mark during first 11 months of fiscal year 2013-2014 (FY14), following improved economic activity and rising profitability of companies. Sources in banking industry told Busine
Published 03 Jul, 2014 12:00am
Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit, dividend crosses $1 billion mark

Repatriation of profit and dividend by foreign investors crossed $1 billion mark during first 11 months of fiscal year 2013-2014 (FY14), following improved economic activity and rising profitability of companies. Sources in banking industry told Busine
Published 03 Jul, 2014 12:00am
US spying row overshadows McCain's trip to India

US spying row overshadows McCain's trip to India

A visit to India by US Senator John McCain on Wednesday was overshadowed by a row over reports that the National Security Agency was authorised to spy on Prime Minister Narendra Modi's party in 2010. McCain cancelled a news conference due to be held outsi
Published 03 Jul, 2014 12:00am
US spying row overshadows McCain's trip to India

US spying row overshadows McCain's trip to India

A visit to India by US Senator John McCain on Wednesday was overshadowed by a row over reports that the National Security Agency was authorised to spy on Prime Minister Narendra Modi's party in 2010. McCain cancelled a news conference due to be held outsi
Published 03 Jul, 2014 12:00am
Calls for calm as Palestinian killing sparks rioting

Calls for calm as Palestinian killing sparks rioting

A Palestinian teenager was kidnapped and killed Wednesday, apparently in revenge for the murder of three Israeli youths, prompting international calls for calm as violence flared in Jerusalem. Israel's Prime Minister Benjamin Netanyahu condemned the "desp
Published 03 Jul, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Calls for calm as Palestinian killing sparks rioting

Calls for calm as Palestinian killing sparks rioting

A Palestinian teenager was kidnapped and killed Wednesday, apparently in revenge for the murder of three Israeli youths, prompting international calls for calm as violence flared in Jerusalem. Israel's Prime Minister Benjamin Netanyahu condemned the "desp
Published 03 Jul, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Nuclear export group divided over ties with India: diplomats

Nuclear export group divided over ties with India: diplomats

An influential global body that controls atomic exports is divided over establishing closer ties with India, meaning the nuclear-armed Asian power may have to wait a while longer before joining. Diplomatic sources said different opinions were voiced in a
Published 03 Jul, 2014 12:00am
Stocks retreat

Stocks retreat

Stocks retreated on Karachi Stock Exchange after two consecutive days of gains. Profit-taking in select scrips pulled the benchmark KSE-100 index down by 24.78 points to settle at 29,676.80 points. Samar Iqbal, AVP at Topline Securities, said that a range
Published 03 Jul, 2014 12:00am
China frees spreads on retail yuan rate in reform step

China frees spreads on retail yuan rate in reform step

China will permit banks to set their own exchange rates for the yuan against the dollar in deals with clients, in a further step to relax controls to make the currency more market-driven. The world's second-largest economy seeks to widen the use of the yu
Published 03 Jul, 2014 12:00am
Renzi says Europe must boost growth

Renzi says Europe must boost growth

Prime Minister Matteo Renzi kicked off Italy's six-month spell in the rotating presidency of the European Union with a fresh call for action to boost economic growth in the 28-member bloc. Renzi has led calls for Europe to move from budget austerity towar
Published 03 Jul, 2014 12:00am
Gazprom surprises with new head of exports

Gazprom surprises with new head of exports

Gazprom has appointed a new head of its export division, effectively the world's most powerful gas trader: Elena Burmistrova, who was swiftly ushered in to talks with President Vladimir Putin. Credited with helping to clinch the $400 billion deal with Chi
Published 03 Jul, 2014 12:00am
Singapore businessman convicted in sex-for-fixing case

Singapore businessman convicted in sex-for-fixing case

A Singaporean businessman was found guilty of corruption Tuesday after a judge ruled that he offered three Lebanese referees free services of prostitutes in return for rigging future matches. Nightclub owner Eric Ding Si Yang, 32, could face up to 15 year
Published 03 Jul, 2014 12:00am
Japanese firms see BoJ fall short of price goal 5 years ahead

Japanese firms see BoJ fall short of price goal 5 years ahead

Japanese companies expect consumer inflation to fall short of the central bank's 2 percent target for the next five years, emphasizing the challenge it faces in trying to drive up inflation expectations through aggressive monetary stimulus. Firms polled b
Published 03 Jul, 2014 12:00am
Sri Lankan tax revenue down, but budget deficit goal seen achievable

Sri Lankan tax revenue down, but budget deficit goal seen achievable

Sri Lanka's tax revenue has fallen more than 15 percent from its target in the first four months of the year but it can still achieve its 2014 budget deficit target of 5.2 percent of GDP, the finance ministry said on Wednesday. The government had estimate
Published 03 Jul, 2014 12:00am
Sri Lankan tax revenue down, but budget deficit goal seen achievable

Sri Lankan tax revenue down, but budget deficit goal seen achievable

Sri Lanka's tax revenue has fallen more than 15 percent from its target in the first four months of the year but it can still achieve its 2014 budget deficit target of 5.2 percent of GDP, the finance ministry said on Wednesday. The government had estimate
Published 03 Jul, 2014 12:00am
BMW to invest one billion euros in new Mexican plant

BMW to invest one billion euros in new Mexican plant

German top-of-the-range carmaker BMW is to invest around 1.0 billion euros ($1.3 billion) in a brand new factory in Mexico, an industry source told AFP on Wednesday. The plant will have capacity to build around 150,000 cars each year starting in 2019, the
Published 03 Jul, 2014 12:00am
Brazil posts trade surplus of $2.365 billion in June

Brazil posts trade surplus of $2.365 billion in June

Brazil posted a trade surplus of $2.365 billion in June, the highest result this year, government data showed on Tuesday. Still the hefty surplus was not enough to revert an accumulated trade deficit of $2.490 billion this year. The median forecast of 14
Published 03 Jul, 2014 12:00am
UK watchdog says no evidence that gold price is rigged
Libor

UK watchdog says no evidence that gold price is rigged

Collusion in setting gold prices was possible but there is no evidence of this, a senior British markets regulator said on Wednesday. "It is possible but I have no clear evidence that that has actually happened," David Bailey, head of markets infrastructu
Published 03 Jul, 2014 12:00am
Canada manufacturing growth at six-month high

Canada manufacturing growth at six-month high

The pace of growth in the Canadian manufacturing sector picked up in June to its highest level of the year so far, helped by an acceleration in output and new orders, data showed on Wednesday. The RBC Canadian Manufacturing Purchasing Managers' index (PMI
Published 03 Jul, 2014 12:00am
Romania parliament approves employment tax cut despite budget hole

Romania parliament approves employment tax cut despite budget hole

The Romanian parliament's lower house approved on Wednesday a 5 percentage point cut in social security taxes for employers that is intended to boost economic growth but will leave a gap in the budget. The tax cut was approved last month by the leftist go
Published 03 Jul, 2014 12:00am
Romania parliament approves employment tax cut despite budget hole

Romania parliament approves employment tax cut despite budget hole

The Romanian parliament's lower house approved on Wednesday a 5 percentage point cut in social security taxes for employers that is intended to boost economic growth but will leave a gap in the budget. The tax cut was approved last month by the leftist go
Published 03 Jul, 2014 12:00am
Rising trend on grain market

Rising trend on grain market

Rising trend was witnessed on the wholesale grain market on Wednesday in the process of modest trading, dealers said. On the cereals side, Moong Punjab gained Rs 500 to Rs 10,000 and Moong Peshawar also picked up Rs 300 to Rs 12500, Guwar Sindh low type g
Published 03 Jul, 2014 12:00am
Kenyan top grade tea price falls

Kenyan top grade tea price falls

The highest price for top-grade Kenyan tea fell to 3.12 per kg at this week's auction from $3.20 per kg last week, Tea Brokers East Africa said on Wednesday. Kenya is the world's leading exporter of black tea. The crop is a main source of foreign exchange
Published 03 Jul, 2014 12:00am
Business activity picks up pace on cotton market

Business activity picks up pace on cotton market

Little improvement was witnessed in the trading activity on the cotton market on Wednesday mills and spinners took interest in fresh deals, dealers said. The official spot rate was unchanged at Rs 6,300, they added. While, the prices of seed cotton from S
Published 03 Jul, 2014 12:00am
Oil cake market rates

Oil cake market rates

Deliveries maintained upward trend on the forward cottonseeds oilcake market on Wednesday in the process of trading, dealers said. The July contract closed at Rs 1849.80 and it opened with 30 paisa rise at Rs 1850.10 in the early session, they said. The J
Published 03 Jul, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 68,931 tonnes of cargo comprising 52,751 tonnes of import cargo and 16,180 tonnes of export cargo including 4,494 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of 52
Published 03 Jul, 2014 12:00am
EU wheat futures hit near five-month low

EU wheat futures hit near five-month low

European milling wheat futures hit a near 5-month low on Tuesday, still pressured by a US government report on Monday that forecast a big world grains supply, including higher-than-expected planting estimates for wheat. Benchmark November milling wheat wa
Published 03 Jul, 2014 12:00am
US Midwest corn, soya bids steady to mixed

US Midwest corn, soya bids steady to mixed

Cash corn bids were steady to narrowly mixed at US Midwest processors and elevators in quiet trade on Tuesday as farmers held off on booking crop sales, grain merchants said. Chicago Board of Trade corn futures fell again on Tuesday, after tumbling on Mon
Published 03 Jul, 2014 12:00am
US FOB Gulf wheat basis offers lower

US FOB Gulf wheat basis offers lower

US FOB Gulf wheat basis offers were steady to lower after the close on Tuesday with Egypt's passing on US wheat in its overnight tender, traders said. Soyabean offers were steady to higher after more weakness in futures while corn offers were unchanged af
Published 03 Jul, 2014 12:00am
Watered-down anti-terror law passed

Watered-down anti-terror law passed

The National Assembly on Wednesday passed the Protection of Pakistan Bill 2014 with a majority, authorising the armed forces and civil armed forces to shoot suspects on sight with the permission of an official of grade-15. The main opposition party, Pakis
Published 03 Jul, 2014 12:00am
Ukraine's 2014-15 grain exports seen up

Ukraine's 2014-15 grain exports seen up

Ukraine may cut grain exports in the 2014/15 marketing year, which started on July 1, by up to 22 percent due to higher production costs, Kiev-based UCAB consultancy said on Wednesday. Ukraine, one of the world's key grain exporters via the Black Sea, has
Published 03 Jul, 2014 12:00am
Watered-down anti-terror law passed

Watered-down anti-terror law passed

The National Assembly on Wednesday passed the Protection of Pakistan Bill 2014 with a majority, authorising the armed forces and civil armed forces to shoot suspects on sight with the permission of an official of grade-15. The main opposition party, Pakis
Published 03 Jul, 2014 12:00am
Turkey seeks to buy feed barley

Turkey seeks to buy feed barley

Turkey's state grain agency TMO has issued an international tender to purchase and import up to 150,000 tonnes of animal feed barley, European traders said on Wednesday. The tender sought optional origin and closes on Wednesday, July 2. Offers in the tend
Published 03 Jul, 2014 12:00am
Watered-down anti-terror law passed

Watered-down anti-terror law passed

The National Assembly on Wednesday passed the Protection of Pakistan Bill 2014 with a majority, authorising the armed forces and civil armed forces to shoot suspects on sight with the permission of an official of grade-15. The main opposition party, Pakis
Published 03 Jul, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Wednesday at Pakistan Mercantile Exchange (PMEX) value traded was recorded at PKR 2.614 billion. Number of lots traded was 10,858 and PMEX Commodity Index closed at 3,066. Major business was contributed by crude oil amounting to PKR 1.749 billion - up
Published 03 Jul, 2014 12:00am
Nisar asks ex-ISPR chief, others to act responsibly

Nisar asks ex-ISPR chief, others to act responsibly

Interior Minister Chaudhry Nisar Ali Khan on Wednesday said that Pakistan Army is fighting against militants for the future of Pakistan, asking retired army officials to take utmost care while giving any statement about the present situation. Responding t
Published 03 Jul, 2014 12:00am
Nisar asks ex-ISPR chief, others to act responsibly

Nisar asks ex-ISPR chief, others to act responsibly

Interior Minister Chaudhry Nisar Ali Khan on Wednesday said that Pakistan Army is fighting against militants for the future of Pakistan, asking retired army officials to take utmost care while giving any statement about the present situation. Responding t
Published 03 Jul, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 03 Jul, 2014 12:00am
'It is still a very harsh law though'

'It is still a very harsh law though'

"It is still a very harsh law though," ANP leader Afrasiyab Khattak said by telephone. "We will be raising these issues again when the law comes up for renewal in two years." The revised legislation, he said, allows suspects to be held for questioning for
Published 03 Jul, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 03 Jul, 2014 12:00am
'It is still a very harsh law though'

'It is still a very harsh law though'

"It is still a very harsh law though," ANP leader Afrasiyab Khattak said by telephone. "We will be raising these issues again when the law comes up for renewal in two years." The revised legislation, he said, allows suspects to be held for questioning for
Published 03 Jul, 2014 12:00am
THE RUPEE: mixed patterns

THE RUPEE: mixed patterns

The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said. The rupee posted fresh gains of 13-paisa in terms of the dollar for buying at Rs 98.67 and the national currency also picked up 15-paisa for selling at Rs
Published 03 Jul, 2014 12:00am
Insurance company issued stern warning

Insurance company issued stern warning

The Securities and Exchange Commission of Pakistan (SECP) has issued a stern warning to a leading insurance company for making investment in the shares/securities of an associate concern/undertaking without prior approval of the shareholders through a spe
Published 03 Jul, 2014 12:00am
THE RUPEE: mixed patterns

THE RUPEE: mixed patterns

The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said. The rupee posted fresh gains of 13-paisa in terms of the dollar for buying at Rs 98.67 and the national currency also picked up 15-paisa for selling at Rs
Published 03 Jul, 2014 12:00am
Insurance company issued stern warning

Insurance company issued stern warning

The Securities and Exchange Commission of Pakistan (SECP) has issued a stern warning to a leading insurance company for making investment in the shares/securities of an associate concern/undertaking without prior approval of the shareholders through a spe
Published 03 Jul, 2014 12:00am
Insurance company issued stern warning

Insurance company issued stern warning

The Securities and Exchange Commission of Pakistan (SECP) has issued a stern warning to a leading insurance company for making investment in the shares/securities of an associate concern/undertaking without prior approval of the shareholders through a spe
Published 03 Jul, 2014 12:00am
PPIB approves processing of 4,250 megawatts coal-fired projects

PPIB approves processing of 4,250 megawatts coal-fired projects

Private Power & Infrastructure Board (PPIB) presided over by Minister for Water and Power, Khawaja Asif on Wednesday approved the processing of coal fired power projects totalling 4,250 MW. The PPIB is being headed by an Additional Secretary of Ministry o
Published 03 Jul, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 03 Jul, 2014 12:00am
PPIB approves processing of 4,250 megawatts coal-fired projects

PPIB approves processing of 4,250 megawatts coal-fired projects

Private Power & Infrastructure Board (PPIB) presided over by Minister for Water and Power, Khawaja Asif on Wednesday approved the processing of coal fired power projects totalling 4,250 MW. The PPIB is being headed by an Additional Secretary of Ministry o
Published 03 Jul, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 03 Jul, 2014 12:00am
PPIB approves processing of 4,250 megawatts coal-fired projects

PPIB approves processing of 4,250 megawatts coal-fired projects

Private Power & Infrastructure Board (PPIB) presided over by Minister for Water and Power, Khawaja Asif on Wednesday approved the processing of coal fired power projects totalling 4,250 MW. The PPIB is being headed by an Additional Secretary of Ministry o
Published 03 Jul, 2014 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 03 Jul, 2014 12:00am
Credibility under doubt: government urged to revisit BISP data

Credibility under doubt: government urged to revisit BISP data

Public Accounts' sub-committee on Wednesday urged the government to ensure transparency in Benazir Income Support Programme (BISP) by revisiting the data pertaining to beneficiaries of the programme designed by Pakistan People's Party (PPP) for political
Published 03 Jul, 2014 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Credibility under doubt: government urged to revisit BISP data

Credibility under doubt: government urged to revisit BISP data

Public Accounts' sub-committee on Wednesday urged the government to ensure transparency in Benazir Income Support Programme (BISP) by revisiting the data pertaining to beneficiaries of the programme designed by Pakistan People's Party (PPP) for political
Published 03 Jul, 2014 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Credibility under doubt: government urged to revisit BISP data

Credibility under doubt: government urged to revisit BISP data

Public Accounts'' sub-committee on Wednesday urged the government to ensure transparency in Benazir Income Support Programme (BISP) by revisiting the data pertaining to beneficiaries of the programme designed by Pakistan People''s Party (PPP) for politica
Published 03 Jul, 2014 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (July 02, 2014).

Published 03 Jul, 2014 12:00am
Ministry putting explosive scam on ice

Ministry putting explosive scam on ice

Ministry of Industries and Production is reportedly putting a mega scam of Explosives Department on ice. This department is an arm of industry which allows import of a huge quantity of explosives from Heathrow Airport London to a private company at Benazi
Published 03 Jul, 2014 12:00am