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Mar 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-02-21
Pakistan, West Indies in fight for survival

Pakistan, West Indies in fight for survival

The 44-day World Cup is barely a week old and Pakistan and the West Indies are already viewing their second match as crucial to morale and potentially to their survival. Both suffered first game defeats and both are embroiled in off-field controversy, wit
Published 21 Feb, 2015 12:00am
TCP accused of withholding ginners' payment

TCP accused of withholding ginners' payment

Ginners of Punjab and Sindh have accused Trading Corporation of Pakistan (TCP) of withholding their dues amounting to Rs 2300 million. Moreover, ginners who have sold 94,600 bales of cotton to the TCP in the wake of a decision of federal government are ye
Published 21 Feb, 2015 12:00am
NED University, Italian Development Committee sign MoU

NED University, Italian Development Committee sign MoU

A Memorandum of Understanding was signed between Italian Development Committee and NED Engineering University recently at IDC office at Zamzama, Karachi. The MoU was signed by Cav. Dr Tariq Ikram, President IDC and Professor Dr Muhammad Afzal Haque, Vice
Published 21 Feb, 2015 12:00am
KP PDWP approves 13 projects costing Rs 7080.986 million

KP PDWP approves 13 projects costing Rs 7080.986 million

A meeting of the Provincial Development Working Party (PDWP) was held under the chairmanship of Dr Hammad Awais Agha, Additional Chief Secretary, Khyber Pakhtunkhwa, on Friday in Civil Secretariat Peshawar. The meeting approved 13 projects having 18 schem
Published 21 Feb, 2015 12:00am
UVAS, PHC Dubai sign MoU

UVAS, PHC Dubai sign MoU

The University of Veterinary and Animal Sciences (UVAS) Lahore signed a memorandum of understanding (MoU) with the Pulseberry Health Consultants (PHC) Dubai, to promote educational and training programmes and consultancy projects in areas of food safety,
Published 21 Feb, 2015 12:00am
KP appoints new PEDO CEO

KP appoints new PEDO CEO

The provincial government of Khyber Pakhtunkhwa has appointed Akbar Ayub as Chief Executive Officer (CEO), Pakhtunkhwa Energy Development Organisation (PEDO), said a notification issued here on Friday. He will head the organisation for a period of three y
Published 21 Feb, 2015 12:00am
Judge grants remand in tax fraud case

Judge grants remand in tax fraud case

Chaudhry Mumtaz Hussain, Special Judge (Customs, Anti Smuggling & Taxation) has granted a three-day physical remand of two accused allegedly involved in tax fraud worth millions. It is learnt that accused namely Wali Muhammad s/o Abdul Hannan resident of
Published 21 Feb, 2015 12:00am
Afghan refugees: KP Governor discusses repatriation with UNHCR member

Afghan refugees: KP Governor discusses repatriation with UNHCR member

Indrika Ratwatte, Representative of United Nations High Commissioner for Refugees (UNHCR) called on KP Governor Sardar Mahtab Ahmad Khan here on Friday at Governor House and discussed matters pertaining to the Afghan refugees in Pakistan. Jacques Franguin
Published 21 Feb, 2015 12:00am
Punjab Food Department starts wheat export

Punjab Food Department starts wheat export

on the instructions of Punjab Chief Minister Muhammad Shahbaz Sharif, Punjab Food Department has started wheat export. According to a spokesman of Provincial Food Department here on Friday, agreements for the export of 24,000 metric ton wheat have been si
Published 21 Feb, 2015 12:00am
PRA notifies revamp of Punjab Sales Tax on Services Rules-2015

PRA notifies revamp of Punjab Sales Tax on Services Rules-2015

Punjab Revenue Authority (PRA) Friday repealing the Punjab Sales Tax on Services (Withholding) Rules, 2012 has notified revamped Punjab Sales Tax on Services (Withholding) Rules, 2015 aiming at changing the categories of withholding agents, enhancing the
Published 21 Feb, 2015 12:00am
LSE launches Algo Trading Software

LSE launches Algo Trading Software

The Lahore Stock Exchange on Friday held launching ceremony of Algo Trading Software to improve liquidity and benefit brokers engaged in the practice of arbitrage. LSE Managing Director Aftab Ahmed Chaudhry inaugurated the software that would find arbitra
Published 21 Feb, 2015 12:00am
Mirza summons son to London

Mirza summons son to London

Sindh's former Home Minister Zulfikar Mirza on Friday summoned his son, Hussain Mirza to London to chalk out the future strategy after being disowned by Pakistan Peoples Party (PPP). Hussain Mirza has been elected from Badin as Member of Sindh Assembly on
Published 21 Feb, 2015 12:00am
Pleas awaiting settlement in DRAP may be cleared on priority

Pleas awaiting settlement in DRAP may be cleared on priority

National Assembly Standing Committee on National Health, Services, Regulations and Co-ordination on Friday decided that all pending applications in Drug Regulatory Authority of Pakistan (DRAP) regarding registration and import/export of raw material for m
Published 21 Feb, 2015 12:00am
LUMHS to hold symposium today

LUMHS to hold symposium today

Department of Pediatrics, LUMHS Jamshoro, in collaboration with World Health Organisation, Maternal Neonatal and Child Health Program, and Child Health Care Welfare Association is going to hold a symposium with the theme 'Child Health Survival with Qualit
Published 21 Feb, 2015 12:00am
Need to focus on unexplored potential of dairy industry stressed

Need to focus on unexplored potential of dairy industry stressed

Chairman Standing Committee on Horticulture and Agriculture Produce of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Ahmad Jawad, has emphasised the need to focus on unexplored potential of dairy industry and horticulture for pushing t
Published 21 Feb, 2015 12:00am
Wind energy projects: Buksh Energy joins hands with Danish company

Wind energy projects: Buksh Energy joins hands with Danish company

Over the past six years Buksh Energy (Pvt) Ltd has been committed to maximising energy efficiency and ensuring the optimum utilisation of resources in its attempts to alleviate Pakistan's severe energy crisis. Global Wind Power (GWP) and Buksh Energy have
Published 21 Feb, 2015 12:00am
Six held in Quetta, Sukkur

Six held in Quetta, Sukkur

The frontier corps on Friday arrested four suspected militants after injuring them in encounter during search operation near Coastal Highway in Pasni area. According to FC spokesman, on a tipoff about presence of terrorists in the area, the FC personnel s
Published 21 Feb, 2015 12:00am
PA passes Sindh Consumers Protection Act 2014

PA passes Sindh Consumers Protection Act 2014

The Sindh Assembly on Friday unanimously passed "Sindh Consumers Protection Act 2014" for ensuring consumers' rights and action against selling and advertising of substandard items. The law envisages setting up of consumers' court across the province to a
Published 21 Feb, 2015 12:00am
Dismissal of Qaim's plea: SHC asks ECP to revisit its verdict

Dismissal of Qaim's plea: SHC asks ECP to revisit its verdict

The Sindh High Court (SHC) on Friday directed the Election Commission of Pakistan to revisit its verdict that dismissed Sindh Chief Minister Syed Qaim Ali Shah's plea seeking transfer of election petition challenging his election victory from the Election
Published 21 Feb, 2015 12:00am
570 conferred degrees at PAF-KIET convocation

570 conferred degrees at PAF-KIET convocation

The 12th convocation ceremony of PAF-KIET (Karachi Institute of Economics & Technology) was held at the Convention Centre, PAF Museum Karachi. Governor of Sindh Dr Ishrat-ul-Ebad Khan was the chief guest at the occasion. Air Chief Marshal Tahir Rafique Bu
Published 21 Feb, 2015 12:00am
ICI Pakistan's profit after tax in H1 2014-15 grows 34 percent

ICI Pakistan's profit after tax in H1 2014-15 grows 34 percent

The Board of Directors of ICI Pakistan Limited announced the Company's financial results for the six months ended December 31, 2014. Profit After Tax at Rs 1,025 million is 34 percent higher than the same period last year. Net Sales Income for the six mon
Published 21 Feb, 2015 12:00am
ICI Pakistan's profit after tax in H1 2014-15 grows 34 percent

ICI Pakistan's profit after tax in H1 2014-15 grows 34 percent

The Board of Directors of ICI Pakistan Limited announced the Company's financial results for the six months ended December 31, 2014. Profit After Tax at Rs 1,025 million is 34 percent higher than the same period last year. Net Sales Income for the six mon
Published 21 Feb, 2015 12:00am
27 Pakistani companies participate in Magic Market shows

27 Pakistani companies participate in Magic Market shows

TDAP, being regular participant in the show for the last many years, successfully participated in Magic Market shows started on February 16. This year 27 companies from the country exhibited their products in the show under the umbrella of TDAP. Out of th
Published 21 Feb, 2015 12:00am
Mother's, child's safety our major priority: Prime Minister

Mother's, child's safety our major priority: Prime Minister

Prime Minster Muhammad Nawaz Sharif on Friday said that the mother and child's safety through proper immunisation and better nutrition is a major priority of the government. Talking to a high-level mission of Global Alliance for Vaccines and Immunisation
Published 21 Feb, 2015 12:00am
Six more death row prisoners from Sindh to be sent to gallows

Six more death row prisoners from Sindh to be sent to gallows

President Mamnoon Hussain on Friday rejected appeals for clemency from six death row prisoners from Sindh. Following the decision, the Sindh Home Department ordered the IG Prisons to take measures to execute the convicts. The prisoners whose pleas have be
Published 21 Feb, 2015 12:00am
Customs agents take up clearance issues with Bajwa

Customs agents take up clearance issues with Bajwa

A delegation of All Pakistan Customs Agents Association (APCAA) met FBR Chairman Tariq Bajwa Friday and discussed key customs clearance issues including the role of principal appraisers at dry ports and lodging of FIR against bonded carriers. It is learnt
Published 21 Feb, 2015 12:00am
NAB chief visits KP bureau

NAB chief visits KP bureau

Qamar Zaman Chaudhry, Chairman NAB visited NAB KPK Bureau to have annual inspection of NAB KPK Bureau. NAB Chairman's Inspection & Monitoring Team (CI&MT) who was deputed to conduct Annual Inspection of NAB KPK Bureau for the year 2014. The inspection was
Published 21 Feb, 2015 12:00am
Prime Minister expresses grief over: Dr Shahid's death

Prime Minister expresses grief over: Dr Shahid's death

Prime Minister Muhammad Nawaz Sharif on Friday expressed grief and sorrow over the death of Dr Shahid Nawaz. Condemning the incident of violence that took place at Pakistan Institute of Medical Sciences few days ago in which Dr Shahid was injured, the Pri
Published 21 Feb, 2015 12:00am
Peshawar hires 'rat killer' to tackle rodent problem

Peshawar hires 'rat killer' to tackle rodent problem

A government agency has hired a man who claims to have killed 100,000 rats in a bid to rid the Peshawar city of the rodents that plague its streets. Nasser Ahmad, who has been assigned the straightforward job title of "Rat Killer", will receive a monthly
Published 21 Feb, 2015 12:00am
UHS announces BDS results

UHS announces BDS results

The University of Health Sciences (UHS) has announceed the results of final professional BDS annual examination 2014. A total of 462 candidates from 10 affiliated dental colleges appeared in the examination out of which 350 passed and 109 failed. Result o
Published 21 Feb, 2015 12:00am
Senate body told FWO has no right to fine highway motorists

Senate body told FWO has no right to fine highway motorists

The National Highway and Motorway Police (NH&MP) on Friday revealed that the Frontier Works Organisation (FWO) illegally fine and even offer 20 percent share to the motorway police from the fine collected from commuters, using E-tag line(s) on the motorwa
Published 21 Feb, 2015 12:00am
Horse-trading: KP MPAs take exception to allegations

Horse-trading: KP MPAs take exception to allegations

The opposition in the Khyber Pakhtunkhwa Assembly on Friday took exception to allegations of trade in the Senate elections by PTI and Jamaat-i-Islami (JI) chiefs and asked them for refraining from making such allegations against the elected public represe
Published 21 Feb, 2015 12:00am
Knitwear industry: PHMA urges FBR to clear ST refund cases

Knitwear industry: PHMA urges FBR to clear ST refund cases

Pakistan Hosiery Manufacturers and Exporters Association (PHMEA) has urged the Federal Board of Revenue (FBR) to immediately clear the sales tax refund cases to bailout the knitwear industry which is currently facing severe liquidity crunch. PHMEA Chairma
Published 21 Feb, 2015 12:00am
Knitwear industry: PHMA urges FBR to clear ST refund cases

Knitwear industry: PHMA urges FBR to clear ST refund cases

Pakistan Hosiery Manufacturers and Exporters Association (PHMEA) has urged the Federal Board of Revenue (FBR) to immediately clear the sales tax refund cases to bailout the knitwear industry which is currently facing severe liquidity crunch. PHMEA Chairma
Published 21 Feb, 2015 12:00am
Five hurt in different street crimes

Five hurt in different street crimes

The menace of street crimes continues unabated as five more persons were injured when they put up resistance to robbery bids in different parts of the city on Friday. According to police and rescue sources, one Waleed Raza, son of Raza Muhammad, was shot
Published 21 Feb, 2015 12:00am
Exploring role of CNIC in securing women's property rights

Exploring role of CNIC in securing women's property rights

In Pakistan, women are seldom included in important decisions. The exclusion comes at the back of their weaker social status despite having a legal claim on the property of their husband, father, brothers and other relation.
Published 21 Feb, 2015 12:00am
Sindh Bank's clarification

Sindh Bank's clarification

It has been reported in a section of press that the compensation cheques issued by the Government of Sindh to families of Shikarpur affectees are being dishonoured. It is hereby clarified for information of all concerned that sufficient funds are availabl
Published 21 Feb, 2015 12:00am
NBF sector: SECP approves substantial amendments to regulatory framework

NBF sector: SECP approves substantial amendments to regulatory framework

In continuation of the numerous steps taken to improve the financial sector and to restore the confidence of the investors, the SECP under the leadership of Zafar Hijazi has approved substantial amendments to the regulatory framework for the non-bank fina
Published 21 Feb, 2015 12:00am
Reon Energy initiates 1MWp solar power project at Wah Nobel

Reon Energy initiates 1MWp solar power project at Wah Nobel

Reon Energy Solutions took a mega step in energy abundance with the groundbreaking of the 1MWp Solar Power Project at Wah Nobel Chemicals Ltd Reon Energy Solutions is a part of the Dawood Hercules Group-the largest private sector player in the energy sect
Published 21 Feb, 2015 12:00am
PIA clarification

PIA clarification

"A news story has appeared in a section of the media in which PIA (Pakistan International Airlines) is being unnecessarily maligned for disposing of some if its obsolete aircraft. "The fact of the matter is that PIA had tendered some of its old aircraft t
Published 21 Feb, 2015 12:00am
Fata, Islamabad: scrutiny of 43 candidates carried out

Fata, Islamabad: scrutiny of 43 candidates carried out

The Election Commission of Pakistan (ECP) on Friday completed the scrutiny of the nomination papers of 43 candidates from Federally Administered Tribal Areas (Fata) and the nine candidates from federal capital for upcoming Senate elections to be held on M
Published 21 Feb, 2015 12:00am
Pak-Libya achieved record profitability growth

Pak-Libya achieved record profitability growth

Pak-Libya achieved a record profitability growth of 62 percent in 2014, owing to a marked increase in prudent and selective business activity over the previous year. The net profit before tax jumped from Rs 196 million in 2013 to Rs 318 million in 2014 -
Published 21 Feb, 2015 12:00am
British Council holds series of events for principals

British Council holds series of events for principals

The British Council has been delivering qualifications offered by Cambridge International Examinations and Edexcel in Pakistan for decades. Currently, the British Council works with more than 500 schools across the country, making this one of the most imp
Published 21 Feb, 2015 12:00am
US MIDDAY: gold turns down

US MIDDAY: gold turns down

Gold turned lower in choppy dealings early on Friday, flirting with a seven-week low after the euro zone discussed extending the Greek bailout by just four months, while prices headed for their fourth straight weekly drop. A draft text on extending Greece
Published 21 Feb, 2015 12:00am
US MIDDAY: wheat, corn, soyabeans lower

US MIDDAY: wheat, corn, soyabeans lower

US wheat futures plunged 3.3 percent on Friday, their biggest decline in nearly two months, on more signs of poor export prospects for US supplies, traders said. Corn and soyabean futures also fell, weighed down by a round of end-of-week profit taking fol
Published 21 Feb, 2015 12:00am
Cotton flat as low certified stocks counteract cancellations

Cotton flat as low certified stocks counteract cancellations

ICE cotton ended nearly flat after a choppy trading session on Friday, as low certified stock levels blunted pressure from a US export sales report showing a sharp jump in cancellations. The most-active May cotton contract on ICE Futures US dipped 0.03 ce
Published 21 Feb, 2015 12:00am
French spring barley sowing ahead of last year

French spring barley sowing ahead of last year

French farmers had sown 9 percent of the spring barley area for this year's harvest by February 16, data from farm office FranceAgriMer showed on Friday, in a swifter start to the sowing season than last year. France, the European Union's top grain produc
Published 21 Feb, 2015 12:00am
China cotton imports to triple from current levels by 2024-25

China cotton imports to triple from current levels by 2024-25

China's cotton imports will increase starting in the next crop year and will triple from current levels by the 2024/25 crop year, the US Department of Agriculture (USDA) said in its annual Long-term Agricultural Projections report on Wednesday. The foreca
Published 21 Feb, 2015 12:00am
Bangladesh issues new tender to buy 100,000 tonnes of wheat

Bangladesh issues new tender to buy 100,000 tonnes of wheat

Bangladesh's state grains buyer has issued a new international tender to purchase and import 100,000 tonnes of wheat as its extensive import programme continues, European traders said on Tuesday. Tender closing date is Mar. 1 and offers must remain valid
Published 21 Feb, 2015 12:00am
Gold rebounds in Europe

Gold rebounds in Europe

Gold rebounded on Friday before a meeting of euro zone finance ministers that could put Greece on its way to exiting the bloc, but prices were still headed for their fourth straight weekly drop. Spot gold, lower initially, was up 0.3 percent at $1,211.60
Published 21 Feb, 2015 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold was little changed on Friday as investors eyed talks over Greek debt, but the metal was headed for its fourth straight weekly dip as a last-minute deal was expected to break the impasse over the Mediterranean country's bailout programme. Spot gold wa
Published 21 Feb, 2015 12:00am
Gold down in New York

Gold down in New York

Gold edged lower in choppy dealings on Thursday as the dollar rebounded versus the euro and investors assessed the latest standoff over Greece's bailout. Spot gold fell 0.4 percent to $1,207.95 an ounce by 2:22 pm EST (1922 GMT), erasing earlier gains mad
Published 21 Feb, 2015 12:00am
Arabica coffee hits one-year low

Arabica coffee hits one-year low

Arabica coffee futures on ICE fell to a fresh one-year low on Friday weighed down by an improving crop outlook while sugar prices eased and cocoa edged higher. Dealers said rains in Brazil had improved the outlook for its arabica coffee crop while conditi
Published 21 Feb, 2015 12:00am
USDA sees corn supplies shrinking, soya stocks rising in 2015

USDA sees corn supplies shrinking, soya stocks rising in 2015

US corn stockpiles by the end of the 2015-16 marketing year are likely to decline from a year earlier while domestic soyabean stocks should rise, the US Department of Agriculture said on Friday at its annual outlook forum. Additionally, wheat and rice sto
Published 21 Feb, 2015 12:00am
Soyabeans set five-week high

Soyabeans set five-week high

US soyabean futures jumped to a five-week high on Thursday after the Agriculture Department projected farmers will plant fewer acres than traders expected in response to falling prices. Corn futures also advanced, while wheat finished flat to lower. The U
Published 21 Feb, 2015 12:00am
Tokyo rubber rises

Tokyo rubber rises

Benchmark Tokyo rubber futures climbed on Friday, eking out a small weekly gain and marking a third week of rises, helped by Thailand's plan to start a second round of buying. The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery finished
Published 21 Feb, 2015 12:00am
Oil seesaws, heating oil spikes as freeze hits US refineries

Oil seesaws, heating oil spikes as freeze hits US refineries

Oil seesawed on Friday while the price of heating oil jumped more than 6 percent as severe winter cold crimped output at three US refineries, raising worries about higher crude supplies and a possible squeeze on refined products. "It's sell crude, buy pro
Published 21 Feb, 2015 12:00am
Copper falls, nickel bounces

Copper falls, nickel bounces

Copper prices fell on Friday, under pressured from a drop in the euro against the dollar, with trading volumes reduced by the absence of consumers in China where the market is closed for the Lunar New Year holiday. Three-month copper on the London Metal E
Published 21 Feb, 2015 12:00am
Cotton falls on technical selling after hitting five-month high

Cotton falls on technical selling after hitting five-month high

ICE cotton hit a five-month high on Thursday but ended the day down for the first time in five sessions after hitting technical resistance and encountering little demand at higher prices. The most-active May cotton contract on ICE Futures US fell 0.63 cen
Published 21 Feb, 2015 12:00am
Stolen SIM card keys could be powerful spy tool

Stolen SIM card keys could be powerful spy tool

It would be another powerful tool in the arsenal of US and British spy services: the encryption keys for a large share of the SIM cards used for mobile phones. A report by the investigative news website The Intercept, citing leaked documents from former N
Published 21 Feb, 2015 12:00am
Ethnic Koreans rally in Japan for education subsidies

Ethnic Koreans rally in Japan for education subsidies

Hundreds of ethnic Korean students rallied in Tokyo Friday calling for the return of Japanese state subsidies for schools funded by a pro-Pyongyang group. The group were protesting a 2013 move when Japan stopped payments to 10 Korean high schools, with Ed
Published 21 Feb, 2015 12:00am
US fines Takata for stonewalling airbag probe

US fines Takata for stonewalling airbag probe

US regulators Friday fined Japanese auto parts manufacturer Takata $14,000 a day, accusing it of stonewalling the investigation into the company's defective airbags. Takata failed to fully respond to regulator requests to explain some 2.4 million pages of
Published 21 Feb, 2015 12:00am
Migrants desperate to get out of Libya

Migrants desperate to get out of Libya

Fears a fresh wave of migrants could be poised to leave Libya for Europe mounted Friday as tales from those who have reached Italy revealed how terrifying conditions have become in the conflict-torn north African state. Asylum-seekers who have made it to
Published 21 Feb, 2015 12:00am
US names envoy to Colombia peace talks

US names envoy to Colombia peace talks

The United States on Friday named a special envoy to the Colombia peace talks in a bid to help nudge along negotiations to end one of the world's longest running conflicts. Talks between the leftist Revolutionary Armed Forces of Colombia (FARC) rebels and
Published 21 Feb, 2015 12:00am
US and Cuba companies strike phone service deal

US and Cuba companies strike phone service deal

IDT Corporation, the largest US-based provider of international long distance calling, has reached an agreement with Cuba's ETECSA telecom company to provide phone service between the two countries as they normalise relations. The Cuban company, Empresa d
Published 21 Feb, 2015 12:00am
Japan arrests Red Army member on return from US

Japan arrests Red Army member on return from US

A member of Japan's ultra-leftist Red Army guerrilla group, which attacked embassies and hijacked planes in the 1970s and 1980s, was arrested Friday when he arrived back in Japan, police said. Tsutomu Shirosaki, 67, returned home after serving a prison te
Published 21 Feb, 2015 12:00am
Iran has stopped questionable nuclear centrifuge testing

Iran has stopped questionable nuclear centrifuge testing

Iran has refrained from expanding tests of more efficient models of a machine used to refine uranium under a nuclear agreement with six world powers, a UN report shows, allaying concerns it might be violating the accord. Tehran's development of advanced c
Published 21 Feb, 2015 12:00am
World's oldest leader Mugabe triumphant ahead of 'obscene' birthday bash

World's oldest leader Mugabe triumphant ahead of 'obscene' birthday bash

The world's oldest leader, Zimbabwe's President Robert Mugabe, turns 91 on Saturday with much to celebrate - even as critics condemn as "obscene" his lavish birthday party plans in a country he is accused of plunging into poverty. "I'm very happy to be th
Published 21 Feb, 2015 12:00am
Suicide attack targets Somali officials, kills 10 people

Suicide attack targets Somali officials, kills 10 people

Islamist rebels detonated a car bomb near a hotel in the Somali capital on Friday and then set off another bomb inside where politicians had gathered, killing at least 10 people including a lawmaker and lightly wounding two ministers. Al Shabaab, which cl
Published 21 Feb, 2015 12:00am
Rousseff refuses Indonesia ambassador credentials

Rousseff refuses Indonesia ambassador credentials

Brazilian President Dilma Rousseff on Friday refused to accept the credentials of the Indonesian ambassador to demonstrate her anger at last month's execution of a Brazilian citizen for drug smuggling. "We think it is important that there is an evolution
Published 21 Feb, 2015 12:00am
Germany, France demand crumbling Ukraine ceasefire be 'fully respected'

Germany, France demand crumbling Ukraine ceasefire be 'fully respected'

Germany and France demanded Friday that a crumbling Ukraine truce be "fully respected" even as pro-Russian rebels celebrated a battlefield victory in a strategic town and exchanged artillery fire elsewhere with government troops. "The ceasefire has been v
Published 21 Feb, 2015 12:00am
Southee, McCullum star as New Zealand rout England

Southee, McCullum star as New Zealand rout England

Paceman Tim Southee recorded the best one-day figures by a New Zealander while Brendon McCullum hit the fastest World Cup half-century to lead their team to an eight-wicket rout of hapless England on Friday. Southee took seven for 33 in nine overs as Engl
Published 21 Feb, 2015 12:00am
No change on grain market

No change on grain market

According to the press release of the Grain Merchant Group, not a single change was seen on the local grain market on Friday.
Published 21 Feb, 2015 12:00am
KARACHI CHRONICLE: Street barriers and barricades

KARACHI CHRONICLE: Street barriers and barricades

On February 3 the Sindh High Court ordered the Karachi commissioner and law enforcement agencies to remove illegal barriers from the streets and submit a detailed report by February 24. There are three days left before the deadline, but not a pole, iron g
Published 21 Feb, 2015 12:00am
Political wisdom - deceit or virtue?

Political wisdom - deceit or virtue?

In a general Yahoo opinion survey on Political Wisdom, the best answer was regarded as the one which stated that Political Wisdom was "hypocricy - by not being blunt and taking sides"! Interestingly, during the Islamabad Dharna episode, statements from so
Published 21 Feb, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Thursday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 3.146 billion. The number of lots traded was 18,544 and PMEX Commodity Index closed at 2,572. Major business was contributed by crude oil amounting to PKR 1.985 billion. This was foll
Published 21 Feb, 2015 12:00am
US natural gas slightly higher

US natural gas slightly higher

US natural gas futures settled slightly higher on Thursday, with cold weather forecasts supporting prices despite government data showing mild consumption of gas for heating last week. Front-month gas futures on the New York Mercantile Exchange settled up
Published 21 Feb, 2015 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday to a 7-1/2 month high, supported by fund and crusher buying. Funds added to their long position in May and also rolled part of their March long position into May, a trader said. March canola gained $3.60 to $47
Published 21 Feb, 2015 12:00am
US FOB Gulf wheat basis offers steady

US FOB Gulf wheat basis offers steady

US FOB Gulf wheat basis offers were steady Thursday after a flurry of export tenders in the last few days with Egypt buying cheap European wheat rather than higher-priced US wheat, traders said. FOB corn and soyabean offers were also steady as futures tic
Published 21 Feb, 2015 12:00am
EU wheat futures turn lower after three-week high

EU wheat futures turn lower after three-week high

Euronext wheat futures turned lower on Tuesday, after earlier hitting a three-week high, as sellers took advantage of the run-up in prices and a rally in the US market petered out. Prices remained underpinned by brisk exports, with an import tender by Alg
Published 21 Feb, 2015 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 120,138 tonnes of cargo comprising 100,636 tonnes of import cargo and 19,502 tonnes of export cargo including 6,261 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 100
Published 21 Feb, 2015 12:00am
Cotton market: prices firm on sustained demand

Cotton market: prices firm on sustained demand

Sustained buying by mills and spinners, helped the rates to hold present levels on the cotton market on Friday, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, around 17,000 bales of cotton changed hands
Published 21 Feb, 2015 12:00am
Palestinian farms break new ground with ostrich and mushrooms

Palestinian farms break new ground with ostrich and mushrooms

The small farm in the southern West Bank seems unremarkable, but for one thing. Instead of the sheep traditional to the area, its livestock are ostriches. Fifty-year-old farmer Abdelrahman Abu Tir, whose name coincidentally translates as "father of the bi
Published 21 Feb, 2015 12:00am
Retailers urge Obama involvement in US port talks

Retailers urge Obama involvement in US port talks

The US National Retail Federation called for President Barack Obama to get involved directly if West Coast dockworkers and port operators cannot settle their dispute in talks Friday. Negotiations in San Francisco overseen by Labor Secretary Thomas Perez o
Published 21 Feb, 2015 12:00am
Yemen FX reserves stabilise but borrowing balloons in political crisis

Yemen FX reserves stabilise but borrowing balloons in political crisis

Yemen's foreign exchange reserves have stabilised after a steep fall due to its political turmoil, but ballooning government debt issuance indicates the country may be moving closer to a fiscal crunch, central bank data showed on Friday. Shia Muslim Houth
Published 21 Feb, 2015 12:00am
Cameron unveils £859 million warship contract for BAE Systems

Cameron unveils £859 million warship contract for BAE Systems

Prime Minister David Cameron on Friday unveiled an £859 million (1.2 billion euro, $1.3 billion) contract for BAE Systems to build new warships for the British navy, the defence ministry said. "This is a substantial investment in our shipbuilding industry
Published 21 Feb, 2015 12:00am
Britain defends response to HSBC tax scandal

Britain defends response to HSBC tax scandal

British finance minister George Osborne on Friday defended his government's response to the scandal engulfing London-based HSBC bank, saying the matter should be left for tax officials to investigate. Osborne said allegations that London-based HSBC's Swis
Published 21 Feb, 2015 12:00am
Mexico economy picks up, grows 2.1 percent in 2014

Mexico economy picks up, grows 2.1 percent in 2014

Mexico's economy gained pace at the end of last year on stronger manufacturing and a construction boom, data showed on Friday, but growth was crimped by flagging oil output and the economy flagged in December. Latin America's No 2 economy grew 2.1 percent
Published 21 Feb, 2015 12:00am
CBOT wheat futures mixed

CBOT wheat futures mixed

US wheat futures were mixed on Thursday, with the CBOT March soft red winter wheat contract closing unchanged while most other offerings declined. Poor demand for US supplies, highlighted by Egypt's decision to buy 240,000 tonnes of French and Romanian wh
Published 21 Feb, 2015 12:00am
Qatar to introduce pay reform for migrant workers

Qatar to introduce pay reform for migrant workers

Qatar said Thursday it would introduce a major labour law reform to ensure thousands of workers building venues for the 2022 World Cup are paid on time, after complaints by rights groups. The changes by the future hosts of football's biggest tournament, a
Published 21 Feb, 2015 12:00am
Row rumbles over cultural heart of the city

Row rumbles over cultural heart of the city

The Spanish city of Cordoba boasts that different faiths have long co-existed there, but locals are now squabbling over its star tourist attraction: a cathedral that was once a mosque. One of the most famous Islamic monuments in Europe, the grand stone ed
Published 21 Feb, 2015 12:00am
Adidas starts search to replace veteran CEO

Adidas starts search to replace veteran CEO

The board of Adidas has launched a formal search for a successor to Chief Executive Herbert Hainer who has faced criticism as the German sportswear company has lost ground to US rival Nike. Hainer, 60, in the job since 2001 and the longest-serving CEO of
Published 21 Feb, 2015 12:00am
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