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Nov 15, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-02-19
PTEA hails government move to restore gas supply

PTEA hails government move to restore gas supply

The Pakistan Textile Exporters Association (PTEA) has appreciated the government decision to restore gas supply to the energy-starved textile sector in Punjab and saved jobs of millions of blue collar employees. This would help revive the idle manufacturi
Published 19 Feb, 2015 12:00am
Agricultural productivity Punjab far behind Indian Punjab

Agricultural productivity Punjab far behind Indian Punjab

Pakistani Punjab is far behind the Indian Punjab in productivity of four main cash crops, ie, cotton, sugarcane, wheat, and rice, seasonal vegetables and fodder for livestock, an eminent economist Dr Abdul Hafeez told Business Recorder on Wednesday
Published 19 Feb, 2015 12:00am
Turkey can play vital role in Pakistan economic turnaround: LCCI chief

Turkey can play vital role in Pakistan economic turnaround: LCCI chief

The LCCI President Ijaz A Mumtaz said on Wednesday that Turkey can play an important role in economic turnaround of Pakistan. He said being the second fastest growing economy of the world after China, Turkey has a lot to offer their Pakistani counterparts
Published 19 Feb, 2015 12:00am
Young doctors' strike enters third day

Young doctors' strike enters third day

Young doctors' strike entered third day on Wednesday at Out-Patient Departments (OPDs) of Nishtar Hospital, Civil Hospital and all the public sector hospitals on the appeal made by Young Doctors Association (YDA) here against the brutal killing of senior
Published 19 Feb, 2015 12:00am
Haroon Sethi calls on Chairman PEF

Haroon Sethi calls on Chairman PEF

Deputy Team leader of McKinsey Roadmap Team Haroon Sethi called on Chairman Punjab Education Foundation, Engineer Qamarul Islam Raja at his office here on Wednesday. MD PEF Dr Aneela Salman was also present on the occasion.
Published 19 Feb, 2015 12:00am
Siraj condemns death sentence to Bangladesh JI leader

Siraj condemns death sentence to Bangladesh JI leader

Jamaat-i-Islami chief Sirajul Haq has strongly condemned the death sentence given to a veteran politician and former assembly member, Maulana Abdul Subhan, by a so-called and controversial tribunal in Bangladesh, and termed it a political victimisation of
Published 19 Feb, 2015 12:00am
Fighting terrorism: Pakistan will support Nigeria

Fighting terrorism: Pakistan will support Nigeria

Principal Secretary to the President of Nigeria Hassan Tukur and High Commissioner of Nigeria along with three-member high level delegation called on Minister for Defence Production Rana Tanveer Hussain and Secretary Defence Production Lieutenant General
Published 19 Feb, 2015 12:00am
FDI falls by 1.4 percent during July-January fiscal year 2015

FDI falls by 1.4 percent during July-January fiscal year 2015

Foreign Direct Investment (FDI) continued to post declining trend and fell by 1.4 percent during the first seven months of the current fiscal year (FY15) "The current trend is not surprising as since the beginning of this fiscal year FDI is on decline and
Published 19 Feb, 2015 12:00am
KE responds to minister of state's statements

KE responds to minister of state's statements

in a press release issued by K-Electric, the company expressed its disapproval of the statements made by Minister of State for Water and Power Abid Sher Ali regarding the money owed by KE to different institutions. Abid Sher Ali has gone on record to quot
Published 19 Feb, 2015 12:00am
Hazara province: Baba Haider seeks Wattoo's support

Hazara province: Baba Haider seeks Wattoo's support

Chief of Tehreek e Hazara Sooba Baba Haider Zaman called on President PPP Central Punjab Mian Manzoor Ahmed Wattoo and sought his support for the Hazara province. Manzoor Wattoo said PPP was in favour of more provinces in Pakistan and it spearheaded the c
Published 19 Feb, 2015 12:00am
Jhimpir wind power project to be operational by August 2016

Jhimpir wind power project to be operational by August 2016

Metro Power Project, a 50MW wind power project of Metro Power Company Limited located in Jhimpir, district Thatta, Sindh, achieved financial close here on Wednesday. The project is expected to achieve commercial operation by August, 2016.
Published 19 Feb, 2015 12:00am
Punjab cabinet expresses resolve to eliminate terrorism

Punjab cabinet expresses resolve to eliminate terrorism

Punjab Chief Minister Shahbaz Sharif presided over a meeting of provincial cabinet here on Wednesday. The meeting expressed its resolve to eliminate terrorism, extremism and sectarianism from the society and it was declared that no effort will be spared f
Published 19 Feb, 2015 12:00am
FPCCI voices concern over poor condition of filter plant

FPCCI voices concern over poor condition of filter plant

Federation of Pakistan Chambers of Commerce and Industry's (FPCCI) senior vice president Abdul Rahim Janoo has expressed his serious concern over deteriorating condition of Karachi Water and Sewerage Board's filter plant.
Published 19 Feb, 2015 12:00am
British Minister calls on Dar

British Minister calls on Dar

Francis Maude MP, British Minister for the Cabinet Office and Paymaster General called on the Federal Minister for Finance Senator Mohammad Ishaq Dar today at the Finance Ministry. Maude offered condolences on Peshawar incident to the Finance Minister and
Published 19 Feb, 2015 12:00am
Judicial commission: Khursheed mediating between PTI, PML-N

Judicial commission: Khursheed mediating between PTI, PML-N

Opposition Leader in the National Assembly Syed Khursheed Ahmed Shah is trying to mediate between Pakistan Muslim League-Nawaz (PML-N) and Pakistan Tehreek-e-Insaf (PTI) with a view to resolving a dispute on the composition of a judicial commission to inv
Published 19 Feb, 2015 12:00am
Cotton futures jump to five-month high on low certified stocks

Cotton futures jump to five-month high on low certified stocks

ICE cotton rose for the fourth straight session on Wednesday, hitting a five-month high as certified stock levels remained near 2012 lows, indicating strong demand for US cotton on the physical market. The most-active May cotton contract on ICE Futures US
Published 19 Feb, 2015 12:00am
Indonesia may delay 2017 ban on copper concentrate exports

Indonesia may delay 2017 ban on copper concentrate exports

Indonesia could push back a ban on exports of copper and other mineral concentrates due to come into effect in January 2017 if miners have not built new domestic smelters in time, a mining ministry official said on Wednesday. Early last year Southeast Asi
Published 19 Feb, 2015 12:00am
Palm edges up before Lunar New Year despite bigger output concerns

Palm edges up before Lunar New Year despite bigger output concerns

Malaysian palm oil futures ended slightly higher in a shortened session on Wednesday, tracking US soy markets ahead of the Lunar New Year break, but the prospect of bigger yields at a time of sluggish demand stopped prices going much higher. Malaysian mar
Published 19 Feb, 2015 12:00am
Arabicas fall to one-year low, raw sugar falls near 15 cents

Arabicas fall to one-year low, raw sugar falls near 15 cents

void(0)" onMouseOver="popup(event,'Copyright Reuters, 2015
Published under arrangements with Reuters.

No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication
Published 19 Feb, 2015 12:00am
Soybeans touch five-week high on strong demand, wheat up

Soybeans touch five-week high on strong demand, wheat up

Chicago soybeans rose to a five-week high on Wednesday on strong demand, despite large new supplies looming as a huge soybean harvest in Brazil gathered speed. Wheat rose on support from bitterly cold weather in US grain belts and Egypt's plans to buy US
Published 19 Feb, 2015 12:00am
India may consider sugar export subsidy today

India may consider sugar export subsidy today

India, the world's second biggest sugar producer, could consider subsidy for raw sugar exports at a cabinet meeting on Thursday, a top government source said on Wednesday. Food Minister Ram Vilas Paswan said last week the government could give export ince
Published 19 Feb, 2015 12:00am
EU wheat follows US futures down but exports limit fall

EU wheat follows US futures down but exports limit fall

European wheat fell on Wednesday, pressured by a sharp fall in US futures after Egypt cancelled a tender to purchase US wheat, as well as by negative chart signals. But the European Union market gave up less ground than US prices as the setback for US whe
Published 19 Feb, 2015 12:00am
Tokyo rubber futures ends flat

Tokyo rubber futures ends flat

Benchmark Tokyo rubber futures ended flat on Wednesday after profit-taking was offset by a flurry of short-covering in quiet trade as the week-long Lunar New Year holiday started in China, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract
Published 19 Feb, 2015 12:00am
Copper rebounds as Chinese sellers go on holiday

Copper rebounds as Chinese sellers go on holiday

Copper rebounded on Wednesday after hefty falls in the previous session, as some bulls took advantage of Chinese investors being absent due to the week-long Lunar New Year holiday. Chinese funds helped drive a rout on copper markets last month, that sent
Published 19 Feb, 2015 12:00am
Oil down three percent as supply glut raises questions on rally

Oil down three percent as supply glut raises questions on rally

A comeback rally in oil paused on Wednesday as traders took stock of the blistering 35 percent gain in crude prices since late January despite mounting US supplies The closure of Chinese markets through the weekend for the Lunar New Year added to the quie
Published 19 Feb, 2015 12:00am
Gold near six-week low in Asian trade

Gold near six-week low in Asian trade

Gold was trading near a six-week low on Wednesday as equities recovered on hopes Greece would patch together a deal with its creditors, while the absence of major buyer China also dragged on the metal. Spot gold was little changed at $1,209.90 an ounce by
Published 19 Feb, 2015 12:00am
Gold falls to six-week low on Greek deal hopes

Gold falls to six-week low on Greek deal hopes

Gold hit a six-week low on Wednesday, extending the previous day's steep losses, as hopes for a successful resolution to Greece's debt talks sent European stocks to a seven-year high. Platinum prices also slid to their lowest in 5-1/2 years, hurt by the w
Published 19 Feb, 2015 12:00am
US MIDDAY: soybeans set back after rally

US MIDDAY: soybeans set back after rally

US soybean futures fell on Wednesday, pressured by a round of profit-taking after prices surged through the key $10 a bushel level on Tuesday, traders said. Analysts and traders were expecting the US Agriculture Department to forecast huge domestic soybea
Published 19 Feb, 2015 12:00am
US MIDDAY: wheat tumbles two percent

US MIDDAY: wheat tumbles two percent

US wheat futures tumbled as much as 2 percent on Wednesday, heading for their biggest daily losses in two weeks after top global wheat importer Egypt cancelled a tender seeking supplies from the United States. Overbought technical conditions also pressure
Published 19 Feb, 2015 12:00am
ASBP's quarterly report

ASBP's quarterly report

The first quarterly report for 2014-15 of State Bank of Pakistan makes an interesting reading. The report has laid special focus on the public sector entities (PSEs) that have been causing a colossal loss to the national exchequer for the past many decade
Published 19 Feb, 2015 12:00am
Texas judge's immigration rebuke may be hard to challenge

Texas judge's immigration rebuke may be hard to challenge

President Barack Obama's administration faces a difficult and possibly lengthy legal battle to overturn a Texas court ruling that blocked his landmark immigration overhaul, since the judge based his decision on an obscure and unsettled area of administrat
Published 19 Feb, 2015 12:00am
The law in day-to-day life

The law in day-to-day life

We begin by understanding the meaning of the term, "Equality", which is a condition of possessing substantially the same rights, privileges and immunities and being liable to substantially the same duties. It refers to 'Equality' under the same condition
Published 19 Feb, 2015 12:00am
VIEW POINT: A baffling reluctance to act

VIEW POINT: A baffling reluctance to act

That the political leadership remains long on the rhetoric and short on action in countering the scourge of terrorism is plain from two reports appearing in Tuesdays papers: One about the proceedings of the Sindh Apex Committee meeting and the other about
Published 19 Feb, 2015 12:00am
Settling the situation in Balochistan

Settling the situation in Balochistan

According to press reports, 'unknown men' blew up two towers of high transmission lines in Balochistan's Nasirababd area on Sunday, disrupting power supply to 20 districts of the province, including Quetta. In a similar incident two days earlier, a transm
Published 19 Feb, 2015 12:00am
A lacklustre report

A lacklustre report

State Bank's first quarterly report for the current fiscal released on 17th February, 2015 contains an ordinary assessment of the economy and is largely devoid of the incisive analysis our central bank is famous for. There has been a marked improvement in
Published 19 Feb, 2015 12:00am
Drug pricing: salient policy features unveiled

Drug pricing: salient policy features unveiled

Minister of State for National Health Services, Regulations and Co-ordination Saira Afzal Tarar on Wednesday said that the new drug pricing policy would help lay down a transparent mechanism for price fixation and adjustment, besides increasing availabili
Published 19 Feb, 2015 12:00am
Drug pricing: salient policy features unveiled

Drug pricing: salient policy features unveiled

Minister of State for National Health Services, Regulations and Co-ordination Saira Afzal Tarar on Wednesday said that the new drug pricing policy would help lay down a transparent mechanism for price fixation and adjustment, besides increasing availabili
Published 19 Feb, 2015 12:00am
Drug pricing: salient policy features unveiled

Drug pricing: salient policy features unveiled

Minister of State for National Health Services, Regulations and Co-ordination Saira Afzal Tarar on Wednesday said that the new drug pricing policy would help lay down a transparent mechanism for price fixation and adjustment, besides increasing availabili
Published 19 Feb, 2015 12:00am
TRC's tenure extended

TRC's tenure extended

Finance Minister Ishaq Dar has extended the tenure of Tax Reforms Commission (TRC) for 90 days from February 16, 2015. In this regard, the FBR has issued a notification here Wednesday. Sources said the government had announced constitution of the commissi
Published 19 Feb, 2015 12:00am
TRC's tenure extended

TRC's tenure extended

Finance Minister Ishaq Dar has extended the tenure of Tax Reforms Commission (TRC) for 90 days from February 16, 2015. In this regard, the FBR has issued a notification here Wednesday. Sources said the government had announced constitution of the commissi
Published 19 Feb, 2015 12:00am
TRC's tenure extended

TRC's tenure extended

Finance Minister Ishaq Dar has extended the tenure of Tax Reforms Commission (TRC) for 90 days from February 16, 2015. In this regard, the FBR has issued a notification here Wednesday. Sources said the government had announced constitution of the commissi
Published 19 Feb, 2015 12:00am
Stranded Pakistanis: Supreme Court seeks report

Stranded Pakistanis: Supreme Court seeks report

The Supreme Court on Wednesday sought report from the Ministry of Foreign Affairs, Establishment Division and Cabinet Division pertaining to current repatriation status of stranded Pakistanis in Bangladesh by February 25. Resuming the hearing of identical
Published 19 Feb, 2015 12:00am
Stranded Pakistanis: Supreme Court seeks report

Stranded Pakistanis: Supreme Court seeks report

The Supreme Court on Wednesday sought report from the Ministry of Foreign Affairs, Establishment Division and Cabinet Division pertaining to current repatriation status of stranded Pakistanis in Bangladesh by February 25. Resuming the hearing of identical
Published 19 Feb, 2015 12:00am
The Weather

The Weather

The weather report on Wednesday (February 18, 2015) and the forecast for Thursday (February 19, 2015).

Published 19 Feb, 2015 12:00am
PPP takes action against Mirza

PPP takes action against Mirza

The Pakistan People's Party (PPP) on Wednesday suspended former Sindh home minister Dr Zulfiqar Mirza's membership in the party's central executive committee (CEC). The decision was made following the controversial PPP leader's recent outburst against par
Published 19 Feb, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
PPP takes action against Mirza

PPP takes action against Mirza

The Pakistan People's Party (PPP) on Wednesday suspended former Sindh home minister Dr Zulfiqar Mirza's membership in the party's central executive committee (CEC). The decision was made following the controversial PPP leader's recent outburst against par
Published 19 Feb, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
Envoy to US given extension

Envoy to US given extension

Prime Minister Nawaz Sharif has approved a two-year extension in the service of Pakistan's Ambassador to the United States Jalil Abbas Jilani, informed sources told Business Recorder. The sources said that the contract of the Pakistan Ambassador to
Published 19 Feb, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 19 Feb, 2015 12:00am
Envoy to US given extension

Envoy to US given extension

Prime Minister Nawaz Sharif has approved a two-year extension in the service of Pakistan's Ambassador to the United States Jalil Abbas Jilani, informed sources told Business Recorder. The sources said that the contract of the Pakistan Ambassador to
Published 19 Feb, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 19 Feb, 2015 12:00am
'Friends' buying plane for Imran?

'Friends' buying plane for Imran?

There is intense speculation in Islamabad that close friends and expatriate supporters of Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan have purchased a plane for his excessive use. Well-placed sources revealed to this correspondent that a group of I
Published 19 Feb, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
'Friends' buying plane for Imran?

'Friends' buying plane for Imran?

There is intense speculation in Islamabad that close friends and expatriate supporters of Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan have purchased a plane for his excessive use. Well-placed sources revealed to this correspondent that a group of I
Published 19 Feb, 2015 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (February 18, 2015) and for Thursday (February 19, 2015).
Published 19 Feb, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (February 18, 2015)

Published 19 Feb, 2015 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
No dream debut for Afghanistan as Bangladesh triumph

No dream debut for Afghanistan as Bangladesh triumph

Afghanistan never recovered from a horror start as Bangladesh overpowered the World Cup newcomers by 105 runs at Canberra's Manuka Oval on Wednesday. The Afghans marked their World Cup debut by holding Bangladesh to 267 all out after losing the toss but c
Published 19 Feb, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
No dream debut for Afghanistan as Bangladesh triumph

No dream debut for Afghanistan as Bangladesh triumph

Afghanistan never recovered from a horror start as Bangladesh overpowered the World Cup newcomers by 105 runs at Canberra's Manuka Oval on Wednesday. The Afghans marked their World Cup debut by holding Bangladesh to 267 all out after losing the toss but c
Published 19 Feb, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
India deliberately blew up fishing boat

India deliberately blew up fishing boat

India was forced Wednesday to deny it deliberately blew up a Pakistani fishing boat after video was released showing a coast guard official apparently boasting about ordering the vessel's destruction. The official's apparent claim has reignited controvers
Published 19 Feb, 2015 12:00am
India deliberately blew up fishing boat

India deliberately blew up fishing boat

India was forced Wednesday to deny it deliberately blew up a Pakistani fishing boat after video was released showing a coast guard official apparently boasting about ordering the vessel's destruction. The official's apparent claim has reignited controvers
Published 19 Feb, 2015 12:00am
Modi vows to end India status as top defence importer

Modi vows to end India status as top defence importer

Prime Minister Narendra Modi vowed Wednesday to end India's status as the world's number one defence importer, saying he wanted 70 percent of hardware to be manufactured domestically by the turn of the decade. Speaking at the start of a major aviation ind
Published 19 Feb, 2015 12:00am
THE RUPEE: little changes

THE RUPEE: little changes

Minor changes were seen on the money market on Wednesday in the process of trading, dealers said. The rupee held the overnight levels versus the dollar for buying and selling at Rs 101.57 and Rs 101.59 respectively, they said.
Published 19 Feb, 2015 12:00am
Modi vows to end India status as top defence importer

Modi vows to end India status as top defence importer

Prime Minister Narendra Modi vowed Wednesday to end India's status as the world's number one defence importer, saying he wanted 70 percent of hardware to be manufactured domestically by the turn of the decade. Speaking at the start of a major aviation ind
Published 19 Feb, 2015 12:00am
THE RUPEE: little changes

THE RUPEE: little changes

Minor changes were seen on the money market on Wednesday in the process of trading, dealers said. The rupee held the overnight levels versus the dollar for buying and selling at Rs 101.57 and Rs 101.59 respectively, they said.
Published 19 Feb, 2015 12:00am
US to allow export of armed drones

US to allow export of armed drones

The United States said Tuesday that it will allow for the first time the widespread export of armed drones to some allied countries as part of its global counterterrorism fight. Armed drones are a cornerstone of Washington's battle against extremists in A
Published 19 Feb, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (February 18, 2015).

Published 19 Feb, 2015 12:00am
US to allow export of armed drones

US to allow export of armed drones

The United States said Tuesday that it will allow for the first time the widespread export of armed drones to some allied countries as part of its global counterterrorism fight. Armed drones are a cornerstone of Washington's battle against extremists in A
Published 19 Feb, 2015 12:00am
Attack on Imambargah kills three in Islamabad

Attack on Imambargah kills three in Islamabad

Three people were killed and two injured in a gun-and-suicide bomb attack at an Imambargah during Magreb prayers here yesterday. According to police, the blast occurred when a suicide bomber managed to enter the premises of Imambargah Qasar-e-Sakina at Sh
Published 19 Feb, 2015 12:00am
Attack on Imambargah kills three in Islamabad

Attack on Imambargah kills three in Islamabad

Three people were killed and two injured in a gun-and-suicide bomb attack at an Imambargah during Magreb prayers here yesterday. According to police, the blast occurred when a suicide bomber managed to enter the premises of Imambargah Qasar-e-Sakina at Sh
Published 19 Feb, 2015 12:00am
$400 million incurred on Zarb-e-Azb: Dar tells US delegation

$400 million incurred on Zarb-e-Azb: Dar tells US delegation

Senator Jack Reed, Ranking member of the SASC, accompanied by US Ambassador Richard G. Olson called on the Federal Minister for Finance, Senator Ishaq Dar here on Wednesday. The Minister briefed Jack Reed about the ongoing operation Zarb e Azb, which he s
Published 19 Feb, 2015 12:00am
$400 million incurred on Zarb-e-Azb: Dar tells US delegation

$400 million incurred on Zarb-e-Azb: Dar tells US delegation

Senator Jack Reed, Ranking member of the SASC, accompanied by US Ambassador Richard G. Olson called on the Federal Minister for Finance, Senator Ishaq Dar here on Wednesday. The Minister briefed Jack Reed about the ongoing operation Zarb e Azb, which he s
Published 19 Feb, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 19 Feb, 2015 12:00am
Criticality of action plan re-emphasised

Criticality of action plan re-emphasised

Prime Minister Nawaz Sharif on Wednesday urged provinces to implement decisions taken under the National Action Plan (NAP) speedily, by inculcating a spirit of healthy competition to rid the country of menace of extremism and terrorism. Chairing a meeting
Published 19 Feb, 2015 12:00am
Criticality of action plan re-emphasised

Criticality of action plan re-emphasised

Prime Minister Nawaz Sharif on Wednesday urged provinces to implement decisions taken under the National Action Plan (NAP) speedily, by inculcating a spirit of healthy competition to rid the country of menace of extremism and terrorism. Chairing a meeting
Published 19 Feb, 2015 12:00am
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