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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-01-16
China stocks end sharply up on policy stimulus bets

China stocks end sharply up on policy stimulus bets

China stocks surged on Thursday with the Shanghai index experiencing its biggest daily rise since January 5, as investors bet on an increased chance of policy stimulus after disappointing bank loan data.
Published 16 Jan, 2015 12:00am
Fazlullah and Shahidullah declared absconders

Fazlullah and Shahidullah declared absconders

A local court on Thursday declared outlawed TTP chief Mullah Fazlullah and his other seven accomplices as 'absconders' in Karachi airport attack case. According to reports, the police produced three men accused in the case. The court extended their remand
Published 16 Jan, 2015 12:00am
LHC hands over minor siblings to their mother

LHC hands over minor siblings to their mother

The Lahore High Court on Thursday handing over two minor siblings to their mother and disposed of their petition. The minors Amina, 5, and Umar 6 had approached the court through their uncle. Earlier, Seema Jabeen, the mother, told the court that she want
Published 16 Jan, 2015 12:00am
Appointment of Hijazi as chairman SECP challenged

Appointment of Hijazi as chairman SECP challenged

The Islamabad High Court (IHC) today (Friday) would hear a writ petition challenging the appointment of Muhammad Zafar-ul-Haq Hijazi as Commissioner as well as chairman Securities and Exchange Commission of Pakistan (SECP).
Published 16 Jan, 2015 12:00am
Lahori challenges death warrants before LHC

Lahori challenges death warrants before LHC

A condemned prisoner Ikramul Haq alias Lahori has challenged his death warrants before the Lahore High Court. A Faisalabad Anti-Terrorism Court had reissued the warrants after the convict failed to prove reconciliation with the complainant party.
Published 16 Jan, 2015 12:00am
Prime Minister meets King Abdullah, enquires after his health

Prime Minister meets King Abdullah, enquires after his health

Prime Minister Muhammad Nawaz Sharif on Thursday visited Khadimul Harmain Sharifain King Abdullah bin Abdulaziz and enquired after his health. The Prime Minister prayed for his good health, recovery and long life. He remained there for some time and later
Published 16 Jan, 2015 12:00am
Dell introduces latest products & solutions

Dell introduces latest products & solutions

Dell introduced its latest products and solutions at its annual Dell Solutions Tour 2015 here on Thursday bringing together IT professionals and seeking help to address key issues in the industry and master the varying landscape to drive IT transformation
Published 16 Jan, 2015 12:00am
Symantec Netbackup Appliances: Zong enhances customers' data protection

Symantec Netbackup Appliances: Zong enhances customers' data protection

Zong, the digital partner of the nation, announced that it has selected Symantec Netbackup Appliances and Software solution to enhance its customers' data protection. Being one of the largest Telecom operators in Pakistan, Zong was looking for a robust, u
Published 16 Jan, 2015 12:00am
Rashid accuses Imran of influencing tribunal's decision

Rashid accuses Imran of influencing tribunal's decision

Federal Minister for Information and Broadcasting Pervez Rashid on Thursday accused Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan of influencing the tribunal's decision in his favour by 'pressurizing' the courts.
Published 16 Jan, 2015 12:00am
Modaraba scam: IHC asks NAB to submit its reply

Modaraba scam: IHC asks NAB to submit its reply

The Islamabad High Court (IHC) Thursday issued notice to the National Accountability Bureau (NAB), seeking reply on a bail plea of Mufti Ehsan allegedly involved in a Modaraba scam of Rs 6.5 billion. A Division Bench (DB) of IHC comprising Justice Athar M
Published 16 Jan, 2015 12:00am
LCCI urges FBR to stop attaching business accounts

LCCI urges FBR to stop attaching business accounts

The Lahore Chamber of Commerce and Industry has urged the FBR to stop attaching business accounts in the larger interest of the economy as it should be the last option and not the priority. The LCCI President Ijaz A Mumtaz in a statement on Thursday urged
Published 16 Jan, 2015 12:00am
TDAP holds seminar

TDAP holds seminar

Trade Development Authority of Pakistan (TDAP) on Thursday organised a seminar on "Better cotton for sustainable value chain" in collaboration with Pakistan Cotton Ginners Association (PCGA).
Published 16 Jan, 2015 12:00am
Japanese envoy vows to boost trade ties with Pakistan

Japanese envoy vows to boost trade ties with Pakistan

Japanese Ambassador to Pakistan Hiroshi Inomata has said Japan and Pakistan are enjoying close and cordial bilateral relation since the establishment of diplomatic relations in 1952. The friendly relations between the two countries in modern history began
Published 16 Jan, 2015 12:00am
Banned outfits stopped from operating in Punjab: Minister

Banned outfits stopped from operating in Punjab: Minister

Provincial Minister for Home Colonel Shuja Khanzada (Retd) has said that all political parties, armed forces and people of the country are united in the war against terrorism and terrorists will be rooted out from the country.
Published 16 Jan, 2015 12:00am
Hindu Marriage Registration Bill: Wattoo seeks early legislation

Hindu Marriage Registration Bill: Wattoo seeks early legislation

President Punjab PPP Manzoor Ahmed Wattoo has urged the government and the Parliament to take up urgently the proposed Hind Marriage Registration Bill for an early legislation because it entails the important question of rights of minorities in Pakistan.
Published 16 Jan, 2015 12:00am
APCNGA accuses power sector of petrol crisis

APCNGA accuses power sector of petrol crisis

The All Pakistan CNG Association (APCNGA) on Thursday accused power sector of ongoing petrol crisis which has affected millions of people. After scarcity of gas, petrol is not available at majority of the outlets across the country which is making life di
Published 16 Jan, 2015 12:00am
TCKP begins projects to restore natural beauty of Swat

TCKP begins projects to restore natural beauty of Swat

Tourism Corporation Khyber Pakhtunkhwa (TCKP) has initiated a number of projects to restore the natural beauty of scenic Swat valley and attract the national and foreign tourists to the "Mini-Switzerland of Pakistan".
Published 16 Jan, 2015 12:00am
Qatar mulls penalising firms over delayed migrant wages

Qatar mulls penalising firms over delayed migrant wages

Qatar is considering imposing penalties against firms that fail to pay migrant workers on time, one of the biggest complaints voiced by rights groups against companies in the Gulf state. The host of the 2022 football World Cup has come under mounting inte
Published 16 Jan, 2015 12:00am
Snowden documentary nominated for Oscar

Snowden documentary nominated for Oscar

"Citizenfour," a documentary film about Edward Snowden - the former National Security Agency contractor who leaked documents revealing mass US surveillance activities - earned an Oscar nomination Thursday. The film by US director Laura Poitras was one of
Published 16 Jan, 2015 12:00am
Hezbollah chief threatens Israel over Syria strikes

Hezbollah chief threatens Israel over Syria strikes

Hezbollah chief Hassan Nasrallah has threatened to retaliate against Israel for repeated strikes on Syria, in an television interview to be broadcast Thursday night. Nasrallah told Beirut-based Al-Mayadeen that his Iran-backed Shiite movement was well arm
Published 16 Jan, 2015 12:00am
Iran reformists in landmark meeting ahead of 2016 polls

Iran reformists in landmark meeting ahead of 2016 polls

Iranian reformists held their first public meeting since June 2009 on Thursday to press their political comeback and wrest back control of the conservative-dominated parliament in next year's polls.
Published 16 Jan, 2015 12:00am
Ukraine warns of Russian military build-up

Ukraine warns of Russian military build-up

Ukraine on Thursday renewed accusations of a Russian military build up on its border and approved fresh troop mobilisations as a wave of violence threatened all-out conflict in the country's war-torn east. A national day of mourning was held for 13 people
Published 16 Jan, 2015 12:00am
Hackers target thousands of French websites

Hackers target thousands of French websites

Almost 20,000 websites in France have come under attack from hackers in the aftermath of attacks by jihadist gunmen that killed 17 people last week, the defence ministry said Thursday. Arnaud Coustilliere, head of cyber security for the French military, d
Published 16 Jan, 2015 12:00am
Arab League to push for new Palestinian UN resolution

Arab League to push for new Palestinian UN resolution

The Arab League said on Thursday it will seek to shore up international support for another attempt to obtain a UN resolution on ending Israel's occupation of Palestinian lands. The decision at a gathering of Arab foreign ministers in Cairo came after Pal
Published 16 Jan, 2015 12:00am
Recession-hit Croatia clears debts to poorest

Recession-hit Croatia clears debts to poorest

The government of crisis-hit EU member Croatia said Thursday that the debts of tens of thousands of its poorest citizens will be scrapped. "This is a one-time measure due to the difficult social situation" as the country struggles to emerge from six years
Published 16 Jan, 2015 12:00am
Washington eyes India drone, C-130 project deals for Obama trip

Washington eyes India drone, C-130 project deals for Obama trip

The United States aims to secure agreements with India to start pilot projects for joint production of drones as well as equipment for transport planes in talks next week ahead of a visit by President Barack Obama, a US industry source said on Wednesday.
Published 16 Jan, 2015 12:00am
US rolls out new Cuba rules on trade, travel

US rolls out new Cuba rules on trade, travel

The United States rolled out a sweeping set of measures on Thursday to significantly ease the half-century-old embargo against Cuba, opening up the country to expanded travel, trade and financial activities. Defying hard-line critics in Congress, Presiden
Published 16 Jan, 2015 12:00am
Turkish Prime Minister compares Netanyahu to Paris attackers

Turkish Prime Minister compares Netanyahu to Paris attackers

Turkish Prime Minister Ahmet Davutoglu on Thursday accused his Israeli counterpart Benjamin Netanyahu of committing "crimes against humanity" comparable to those of the gunmen behind the Paris attacks that left 17 dead.
Published 16 Jan, 2015 12:00am
Merkel wants Greece to stay in eurozone

Merkel wants Greece to stay in eurozone

German Chancellor Angela Merkel said Thursday she wants Greece to stay in the eurozone, 10 days before a snap Greek election likely to be won by an anti-austerity party.
Published 16 Jan, 2015 12:00am
Pope says climate change mostly man's fault

Pope says climate change mostly man's fault

Pope Francis said on Thursday he believed that man was primarily responsible for climate change and that he hoped this year's Paris conference would take a courageous stand to protect the environment.
Published 16 Jan, 2015 12:00am
Nigeria naira down 1.2 percent

Nigeria naira down 1.2 percent

Nigeria's naira fell 1.2 percent to close at 185.60 to the greenback on Thursday, despite the central bank intervening with dollar sales to try to prop up the currency, dealers said. The unit opened at 183.40 naira to the greenback, the same level it clos
Published 16 Jan, 2015 12:00am
Sterling surges to seven-year high against euro

Sterling surges to seven-year high against euro

Sterling hit a seven-year high against a battered euro on Thursday after the Swiss National Bank's shock decision to scrap its three-year-old cap on the franc's value against the euro left currency investors reeling.
Published 16 Jan, 2015 12:00am
Egyptian pound steady

Egyptian pound steady

The Egyptian pound was unchanged at a central bank dollar sale on Thursday, and strengthened on the black market. The bank offered $40 million at the sale and said it had sold $38.4 million at a cut-off price of 7.1401 pounds to the dollar, a rate unchang
Published 16 Jan, 2015 12:00am
Ringgit gets respite; rupee rises after central bank cuts rate

Ringgit gets respite; rupee rises after central bank cuts rate

The Malaysian ringgit rose on Thursday, getting some respite in the wake of its drop to a near six-year low earlier this week, while the Indian rupee rose after the central bank surprised markets with an early interest rate cut.
Published 16 Jan, 2015 12:00am
Kenyan shilling edges down

Kenyan shilling edges down

The Kenyan shilling inched down on Thursday in anticipation of increased demand for dollars from importers in the run-up to the end of the month when demand peaks.
Published 16 Jan, 2015 12:00am
Dollar slides on weak US data, uncertain rate outlook

Dollar slides on weak US data, uncertain rate outlook

The dollar slid to a four-week low against the yen on Wednesday after the US interest rate outlook was muddied by a surprise drop in December US retail sales data, covering the holiday shopping season.
Published 16 Jan, 2015 12:00am
Early trade in New York: Swiss Franc soars

Early trade in New York: Swiss Franc soars

The Swiss franc soared nearly 28 percent against the dollar on Thursday after Switzerland's central bank dumped a three-year-old cap on the franc's value against the euro, sending shockwaves through currency markets and pummelling traders who had bet agai
Published 16 Jan, 2015 12:00am
Dollar claws back ground lost on retail sales disappointment

Dollar claws back ground lost on retail sales disappointment

The dollar edged up in Asian trade on Thursday, regaining some ground lost overnight after a surprisingly big fall in US retail sales. The greenback added about 0.2 percent to 117.59 yen, after skidding as low as 116.07 yen on Wednesday, a level last seen
Published 16 Jan, 2015 12:00am
Pakistan's Foreign Exchange Reserves slip to $15.06 billion

Pakistan's Foreign Exchange Reserves slip to $15.06 billion

The country's foreign exchange reserves slipped by $111 million to $15.06 billion during the week that ended on January 9. The week under review saw a decrease of $111 million in the forex reserves, the central bank reported Thursday. "The SBP's liquid fo
Published 16 Jan, 2015 12:00am
Pacra rates IGI Investment Bank positive

Pacra rates IGI Investment Bank positive

The Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term and short-term entity ratings of IGI Investment Bank Limited (IGI IBL) at "BBB-" (Triple B Minus) and "A3" (A Three), respectively. The ratings denote an adequate capacity for
Published 16 Jan, 2015 12:00am
LLM exam forms submission SU announces schedule

LLM exam forms submission SU announces schedule

Sindh University (SU) Controller of Examinations Professor Dr Naeem Tariq Narejo has issued the schedule for submission of the examination forms for appearing in LLM (Previous, Final & Failure) annual exams 2013.
Published 16 Jan, 2015 12:00am
JI holding demonstration against printing of blasphemous cartoons today

JI holding demonstration against printing of blasphemous cartoons today

As the western world reacted bitterly to the attack on French satirical weekly, , Jamaat-i-Islami (JI) on Thursday condemned the Charlie Hebdo weekly for its fresh blasphemous cartoons and announced a countrywide protest against the blasphemous cartoon an
Published 16 Jan, 2015 12:00am
APS tragedy condoled: Bosnia & Herzegovina envoy meets KP Governor

APS tragedy condoled: Bosnia & Herzegovina envoy meets KP Governor

Ambassador of Bosnia & Herzegovina Dr Nedim Makarevic called on Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan at the Governor's House here on Thursday. The Ambassador expressed his condolence on Army Public School (APS) terror incident and mentione
Published 16 Jan, 2015 12:00am
Ripja holds photo exhibition at PNCA

Ripja holds photo exhibition at PNCA

Rawalpindi Islamabad Photo Journalist Association (Ripja) organised a photo exhibition here at National Art Galley of Pakistan National Council of Arts (PNCA) with the purpose to highlight role of police in the society. The exhibition was inaugurated by I
Published 16 Jan, 2015 12:00am
Pharmaceutical companies raise prices of medicines sans permission

Pharmaceutical companies raise prices of medicines sans permission

Certain pharmaceutical companies have increased prices of a select group of drugs during the past two months, reveals a survey carried out by Business Recorder on Thursday. These companies increased the prices without the permission from the regula
Published 16 Jan, 2015 12:00am
CIMA relaunching Global Learning

CIMA relaunching Global Learning

The Chartered Institute of Management Accountants (CIMA) this month is relaunching Global Learning, its accreditation scheme for tuition providers. The revised CIMA Global Learning scheme now features three accreditation levels: CIMA Global Learning Partn
Published 16 Jan, 2015 12:00am
Bank of Khyber declares profit rates

Bank of Khyber declares profit rates

The Bank of Khyber (BoK) (Conventional Branches Only) declared the following profit rates on various PLS deposits for the period of half year ended December 31, 2014:

Published 16 Jan, 2015 12:00am
Bank of Khyber declares profit rates

Bank of Khyber declares profit rates

The Bank of Khyber (BoK) (Conventional Branches Only) declared the following profit rates on various PLS deposits for the period of half year ended December 31, 2014:

Published 16 Jan, 2015 12:00am
Pak-Vietnam bilateral trade to cross $500 million in 2015

Pak-Vietnam bilateral trade to cross $500 million in 2015

The bilateral trade between Pakistan and Vietnam may cross the figure of $500 million in 2015, as per the projected growth of about 20 to 25 percent. This was stated by Commercial Counsellor of Vietnam in Karachi, Mr Vu Viet Dung.
Published 16 Jan, 2015 12:00am
Entity ratings of First Habib Modaraba maintained

Entity ratings of First Habib Modaraba maintained

The Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term and short-term entity ratings of First Habib Modaraba (FHM) at "AA+" (Double A plus) and "A1+" (A One Plus), respectively. These ratings denote a very low expectation of credit
Published 16 Jan, 2015 12:00am
Entity ratings of First Habib Modaraba maintained

Entity ratings of First Habib Modaraba maintained

The Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term and short-term entity ratings of First Habib Modaraba (FHM) at "AA+" (Double A plus) and "A1+" (A One Plus), respectively. These ratings denote a very low expectation of credit
Published 16 Jan, 2015 12:00am
Six killed, 10 hurt in coalmine blast

Six killed, 10 hurt in coalmine blast

At least six labourers were killed and 10 others injured in a coalmine blast due to accumulation of poisonous gas in Dolli area of Lower Orakzai Agency here on Thursday. According to political administration, the incident took place when the labourers wer
Published 16 Jan, 2015 12:00am
Blocking websites: IHC summons chairman PTA

Blocking websites: IHC summons chairman PTA

The Islamabad High Court on Thursday summoned chairman Pakistan Telecommunication Authority, Dr Syed Ismail Shah on January 20 to submit reply on a matter regarding blocking of websites in the country. A single-member bench of Justice Athar Minnallah resu
Published 16 Jan, 2015 12:00am
Ambassadors, UN Agencies' reps visit NW

Ambassadors, UN Agencies' reps visit NW

A delegation of ambassadors from friendly countries and UN agencies representatives visited North Wazirstan Agency on Thursday. According to ISPR, Minister for SAFRON Lieutenant General Abdul Qadir Baloch (Retd), Sartaj Aziz Adviser to the Prime Minister
Published 16 Jan, 2015 12:00am
Prime Minister, Prince Salman discuss bilateral ties

Prime Minister, Prince Salman discuss bilateral ties

Prime Minister Muhammad Nawaz Sharif and Saudi Crown Prince Salman bin Abdulaziz Al Saud met here Thursday and discussed ways of enhancing relations between the two countries in diverse fields. Crown Prince Salman, who is also the Deputy Prime Minister an
Published 16 Jan, 2015 12:00am
Petrol shortage: OGRA issues showcause notices to OMCs

Petrol shortage: OGRA issues showcause notices to OMCs

Oil and Gas Regulatory Authority (OGRA) has taken notice of the serious petrol shortage and has issued show cause notices to Oil Marketing Companies (OMCs) which according to law are bound to keep at least 20 days stock of the commodity.
Published 16 Jan, 2015 12:00am
Retailers' registration: FBR maintains firm stance on SRO.608

Retailers' registration: FBR maintains firm stance on SRO.608

The Federal Board of Revenue (FBR) on Thursday maintained its firm stance on SRO.608(1)12014, with regards to retailers registration and strongly opposed any move against documentation of unregistered businessmen.
Published 16 Jan, 2015 12:00am
Anti-Money Laundering Act 2010: Senate body forms core committee

Anti-Money Laundering Act 2010: Senate body forms core committee

Senate Standing Committee on Finance has constituted a core committee to look into the proposed amendments in the Anti-Money Laundering Act 2010 and would subsequently give viewpoint after holding an internal meeting of the committee.
Published 16 Jan, 2015 12:00am
Tahirani, Baloch appointed vice chancellors

Tahirani, Baloch appointed vice chancellors

Governor Sindh Dr Ishratul Ebad Khan has appointed Professor Dr Abida Tahirani as Vice Chancellor of Sindh University and Dr Akhter Baloch as Vice Chancellor of Benazir Bhutto Shaheed University Lyari for four years on the recommendation of the Sindh gove
Published 16 Jan, 2015 12:00am
FTSE shrugs off Swiss jitters as gold miners rally

FTSE shrugs off Swiss jitters as gold miners rally

Britain's top equity index recovered from jitters caused by Switzerland's unexpected decision on Thursday to end its cap on the value of the franc, and a rise in miners and energy stocks helped lift the market. The blue chip FTSE 100 index closed up by 1.
Published 16 Jan, 2015 12:00am
SE Asia Stocks: Indonesia up before central bank rate decision

SE Asia Stocks: Indonesia up before central bank rate decision

Southeast Asian stock markets rose on Thursday, with Indonesia rebounding from over three-week closing low hit in the previous session before the central bank meeting on interest rates, while bargain hunting lifted battered Thai banking stocks. Jakarta's
Published 16 Jan, 2015 12:00am
TSX hits four-week low but BlackBerry soars on takeover report

TSX hits four-week low but BlackBerry soars on takeover report

Canada's main stock index dropped to its lowest in four weeks on Wednesday after the World Bank cut its global growth forecasts, but BlackBerry Ltd jumped after a report said Samsung Electronics Co had approached it about a takeover.
Published 16 Jan, 2015 12:00am
Franc furore sends Swiss stocks diving 10 percent

Franc furore sends Swiss stocks diving 10 percent

Frantic trading after the Swiss National Bank scrapped its cap on the franc drove Swiss stocks down 10.2 percent on Thursday, putting them on track for their biggest one-day fall in at least 25 years. Some traders described the central bank's move as "car
Published 16 Jan, 2015 12:00am
July-December FY15: cargo handling at Karachi port up 5 percent

July-December FY15: cargo handling at Karachi port up 5 percent

While cargo handling at Karachi port grew by five percent, the number of vessels calling at the country's largest seaport showed a southward trend during first half of the current fiscal year. However, the Karachi Port Trust (KPT) on Thursday dubbed the J
Published 16 Jan, 2015 12:00am
Co-founder of India's SpiceJet agrees to take control

Co-founder of India's SpiceJet agrees to take control

The co-founder of Indian airline SpiceJet Ltd has agreed to buy out its billionaire owner, the first part of an effort to turn round the fortunes of the low-cost carrier in an increasingly crowded aviation sector. Ajay Singh, who helped found SpiceJet in
Published 16 Jan, 2015 12:00am
Saudi's Al Rajhi Bank fourth quarter net profit falls

Saudi's Al Rajhi Bank fourth quarter net profit falls

Al Rajhi Bank, Saudi Arabia's second-largest listed lender, posted a 1.8 percent drop in its fourth-quarter net profit, it said on Thursday, missing analysts' forecasts. The bank made 1.52 billion riyals ($405 million) in the three months to December 31 c
Published 16 Jan, 2015 12:00am
Qatar 2015 budget likely to be based on $45 oil

Qatar 2015 budget likely to be based on $45 oil

Qatar is expected to base its state budget for the fiscal year starting in April on an average oil price of $45 per barrel, down from $65 assumed in the current year's budget, a Qatari energy industry source told Reuters on Thursday.
Published 16 Jan, 2015 12:00am
Latin America 2015 outlook darkens as commodities sink

Latin America 2015 outlook darkens as commodities sink

Latin America has embarked on a painfully long period of greater austerity, and lower commodity prices and economic growth will barely pick up speed this year, a Reuters poll found Thursday. With nose-diving oil and metal prices weighing on government fin
Published 16 Jan, 2015 12:00am
BOJ keeps upbeat view on most regions of Japan

BOJ keeps upbeat view on most regions of Japan

The Bank of Japan maintained its upbeat economic assessment for eight of Japan's nine regions in a quarterly report on Thursday, signalling that the country is on track to emerge from recession without additional monetary easing. In the report issued at a
Published 16 Jan, 2015 12:00am
Dubai Islamic Bank sukuk may open window for Gulf bond issues

Dubai Islamic Bank sukuk may open window for Gulf bond issues

Gulf issuers of overseas bonds, kept on the sidelines by volatile markets, may revive their issue plans after Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, completed a $1 billion sukuk issue.
Published 16 Jan, 2015 12:00am
Dubai Islamic Bank sukuk may open window for Gulf bond issues

Dubai Islamic Bank sukuk may open window for Gulf bond issues

Gulf issuers of overseas bonds, kept on the sidelines by volatile markets, may revive their issue plans after Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, completed a $1 billion sukuk issue.
Published 16 Jan, 2015 12:00am
TSMC reaps record revenue, profit as gadgets demand more chips

TSMC reaps record revenue, profit as gadgets demand more chips

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) reported record quarterly net profit and revenue on Thursday, as the world's largest contract chipmaker benefited from strong sales of smartphones from clients such as Apple Inc.
Published 16 Jan, 2015 12:00am
Valmet buys automation business from Metso for $400 million

Valmet buys automation business from Metso for $400 million

Finland's Valmet, a maker of pulp and paper production machines, is buying a process automation systems business from engineering group Metso for 340 million euros ($397 million), it said on Thursday. "Some were expecting the business to fetch a better pr
Published 16 Jan, 2015 12:00am
Target to pull out of Canada

Target to pull out of Canada

Target Corp said on Thursday it will cease operations in Canada and has filed for creditor protection for its Canadian subsidiary in a surprise move that could put its 17,600 employees in the country out of work. The US discount retailer has struggled sin
Published 16 Jan, 2015 12:00am
PSQCA seals unlicensed bottled drinking water factory

PSQCA seals unlicensed bottled drinking water factory

Pakistan Standards and Quality Control Authority (PSQCA) sealed an 'unlicensed' bottled drinking water factory. Abdul Waheed Memon, Media advisor PSQCA while talking to Business Recorder said the raid was conducted by Conformity Assessment team at
Published 16 Jan, 2015 12:00am
Gusty winds prevent winter fishing

Gusty winds prevent winter fishing

The second spell of gusty winds has pulled nearly 3,000 fishing boats to moorages across the Sindh coasts, bringing winter fishing to a halt, fishermen told Business Recorder on Thursday. Around 2,500 fishing boats have suspended their activities a
Published 16 Jan, 2015 12:00am
Ufone, Faysal Bank launch first iPhone-based instalment plan

Ufone, Faysal Bank launch first iPhone-based instalment plan

Ufone, known for its innovation, together with Faysal Bank Limited (FBL), one of the leading banks in Pakistan, has launched the industry's first iPhone-based instalment plan of the year, whereby customers could own an iPhone 6 along with telecom goodies
Published 16 Jan, 2015 12:00am
TIP budget approval accorded

TIP budget approval accorded

The Board of Directors meeting of Telephone Industries of Pakistan (TIP) was convened here on Thursday, which was chaired by Minister of State for IT Anusha Rahman. Federal Secretary IT Azmat Ali Ranjha, Acting MD TIP Muddassar Hussain, Member Legal Ameen
Published 16 Jan, 2015 12:00am
Three killed in various incidents

Three killed in various incidents

Three people were killed another was injured in separate incidents of violence here on Thursday. A private company's security guard namely Allah Bux, 35, was shot and killed while his friend Shoaib, 30, was shot and injured by unidentified men near Baitul
Published 16 Jan, 2015 12:00am
Accounting standards for NGOs: ICAP urged to expedite development

Accounting standards for NGOs: ICAP urged to expedite development

Zafar Hijazi, the chairman of the Securities and Exchange Commission of Pakistan (SECP), has urged the Institute of Chartered Accountants of Pakistan (ICAP) to expedite the development of accounting standards for NGOs, corporate social responsibility assu
Published 16 Jan, 2015 12:00am
Cotton prices drift downwards

Cotton prices drift downwards

After a modicum of stability in the domestic cotton prices which were mostly stable and steady over the past week or so, both seedcotton (kapas / phutti) and lint prices went lower on Wednesday. Enough availability of fibre and a higher domestic crop than
Published 16 Jan, 2015 12:00am
Dhoni keeps silence on shock Test retirement

Dhoni keeps silence on shock Test retirement

Mahendra Singh Dhoni would not elaborate Thursday about his sudden retirement from Test cricket, ahead of leading India in the one-day international tri-series against Australia and England. The 33-year-old stunned the cricket world - and a completely una
Published 16 Jan, 2015 12:00am
Simon polishes Open form with Kooyong win

Simon polishes Open form with Kooyong win

Frenchman Gilles Simon wrapped up his stay at the Kooyong Classic on Thursday with a concluding win over Serb Filip Krajinovic 6-4, 6-3. The world number 20 now heads to Melbourne Park for final practice prior to the Monday start of the Australian Open. A
Published 16 Jan, 2015 12:00am
Sri Lanka sink bumbling Black Caps

Sri Lanka sink bumbling Black Caps

Sri Lanka cruised to a six-wicket win in the second one-day international against New Zealand on Thursday, thanks to a masterful century from Tillakaratne Dilshan and a comedy of errors from the Black Caps.
Published 16 Jan, 2015 12:00am
Aussie paceman Lee to retire after 20-year career

Aussie paceman Lee to retire after 20-year career

Australian pace bowler Brett Lee on Thursday announced he is to retire from all forms of cricket after a 20-year career, saying he was both emotional and excited. The 38-year-old called time on his international commitments in July 2012, but continued to
Published 16 Jan, 2015 12:00am
Seed cotton prices fall modestly amid sluggish trading

Seed cotton prices fall modestly amid sluggish trading

Seed cotton prices drifted lower on the cotton market on Thursday in the process of sluggish trading, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, over 11,000 bales of cotton changed hands between Rs
Published 16 Jan, 2015 12:00am
Oil cake market rates

Oil cake market rates

The January vaida fell while the March contract was unchanged on the forward cottonseed oilcake market on Thursday in the process of trading, dealers said. The January contract closed at Rs 1568.20 on Wednesday and it opened with 20 paisa loss at Rs 1568.
Published 16 Jan, 2015 12:00am
Goal in 14 seconds as UAE, Iran progress

Goal in 14 seconds as UAE, Iran progress

Ali Mabkhout scored the Asian Cup's fastest recorded goal after just 14 seconds on Thursday as the UAE reached the quarter-finals alongside three-time winners Iran. Mabkhout pounced just moments after the kick-off against Bahrain in the quickest strike re
Published 16 Jan, 2015 12:00am
Cotton prices drift downwards

Cotton prices drift downwards

After a modicum of stability in the domestic cotton prices which were mostly stable and steady over the past week or so, both seedcotton (kapas / phutti) and lint prices went lower on Wednesday. Enough availability of fibre and a higher domestic crop than
Published 16 Jan, 2015 12:00am
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