News Archives for Print - 2015-03-30 - Business Recorder

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Print - 2015-03-30

Major airports, terminal buildings: body formed to discuss proposed outsourcing

Major airports, terminal buildings: body formed to discuss proposed outsourcing

The Economic Co-ordination Committee (ECC) of the Cabinet has constituted a committee to bring about clarity in the outsourcing mechanism proposed through the National Aviation Policy 2015 (NAP) of all major airports and terminal buildings to foreign comp

Published 30 Mar, 2015 12:00am

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. Tsipras''s leftist government agreed an extension to i

Published 30 Mar, 2015 12:00am

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. Tsipras's leftist government agreed an extension to it

Published 30 Mar, 2015 12:00am

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister says he seeks no rift with Europe

Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. Tsipras's leftist government agreed an extension to it

Published 30 Mar, 2015 12:00am

Grateful Singapore gives Lee Kuan Yew a hero's funeral

Grateful Singapore gives Lee Kuan Yew a hero's funeral

More than 100,000 people lined Singapore's streets to bid farewell to its founding father Lee Kuan Yew on Sunday, officials said as a week of mourning ended in the city-state he led to prosperity. Torrential rain soaked the crowds as howitzers fired a 21-

Published 30 Mar, 2015 12:00am

Grateful Singapore gives Lee Kuan Yew a hero's funeral

Grateful Singapore gives Lee Kuan Yew a hero's funeral

More than 100,000 people lined Singapore's streets to bid farewell to its founding father Lee Kuan Yew on Sunday, officials said as a week of mourning ended in the city-state he led to prosperity. Torrential rain soaked the crowds as howitzers fired a 21-

Published 30 Mar, 2015 12:00am

Reasons behind fall in exports; minister rejects Ministry''s presentation

Reasons behind fall in exports; minister rejects Ministry''s presentation

Commerce Minister Engineer Khurram Dastgir Khan has reportedly rejected a presentation of his own Ministry identifying reasons for 15.6 per cent decline in exports during the first eight months (July-February) 2014-15 as compared to corresponding period o

Published 30 Mar, 2015 12:00am

Reasons behind fall in exports; minister rejects Ministry's presentation

Reasons behind fall in exports; minister rejects Ministry's presentation

Commerce Minister Engineer Khurram Dastgir Khan has reportedly rejected a presentation of his own Ministry identifying reasons for 15.6 per cent decline in exports during the first eight months (July-February) 2014-15 as compared to corresponding period o

Published 30 Mar, 2015 12:00am

The Weather

The Weather

The weather report on Sunday (March 29, 2015) and the forecast for Monday (March 30, 2015).

Published 30 Mar, 2015 12:00am

Reasons behind fall in exports; minister rejects Ministry's presentation

Reasons behind fall in exports; minister rejects Ministry's presentation

Commerce Minister Engineer Khurram Dastgir Khan has reportedly rejected a presentation of his own Ministry identifying reasons for 15.6 per cent decline in exports during the first eight months (July-February) 2014-15 as compared to corresponding period o

Published 30 Mar, 2015 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (January to June 2014)

Returns on Profit and Loss Sharing Investment Bank Accounts (January to June 2014)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 30 Mar, 2015 12:00am

New tax package for EPZs on the cards

New tax package for EPZs on the cards

The government is finalising a new tax incentive package for the Export Processing Zones (EPZs) encompassing exemption from presumptive tax to give much-needed boost to exports. Sources told Business Recorder here on Sunday that the Federal Board o

Published 30 Mar, 2015 12:00am

Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (March 24 to 27 2015).

Published 30 Mar, 2015 12:00am

New tax package for EPZs on the cards

New tax package for EPZs on the cards

The government is finalising a new tax incentive package for the Export Processing Zones (EPZs) encompassing exemption from presumptive tax to give much-needed boost to exports. Sources told Business Recorder here on Sunday that the Federal Board o

Published 30 Mar, 2015 12:00am

Aaj TV - Monday's schedule

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 30 Mar, 2015 12:00am

New tax package for EPZs on the cards

New tax package for EPZs on the cards

The government is finalising a new tax incentive package for the Export Processing Zones (EPZs) encompassing exemption from presumptive tax to give much-needed boost to exports. Sources told Business Recorder here on Sunday that the Federal Board o

Published 30 Mar, 2015 12:00am

Chief minister grieved

Chief minister grieved

Punjab Chief Minister Muhammad Shahbaz Sharif has expressed deep sense of sorrow and grief over the death of M.A. Sheda, renowned intellectual, columnist and a senior leader of Pakistan Muslim League. In a condolence message, the Chief Minister prayed tha

Published 30 Mar, 2015 12:00am

Blow for ruling Socialists as French right wins local elections

Blow for ruling Socialists as French right wins local elections

The ruling Socialists suffered a major blow in France's run-off local polls on Sunday as the centre-right alliance of former president Nicolas Sarkozy won a sizeable victory. Early results indicated Sarkozy's coalition had taken between 64 and 70 councils

Published 30 Mar, 2015 12:00am

Prices of essential food items show mixed trend

Prices of essential food items show mixed trend

Prices of almost all essential food items showed a mixed trend, as some recorded slight increase while others remained unchanged during the preceding week, indicated a survey conducted by Business Recorder on Sunday.

Published 30 Mar, 2015 12:00am

Blow for ruling Socialists as French right wins local elections

Blow for ruling Socialists as French right wins local elections

The ruling Socialists suffered a major blow in France's run-off local polls on Sunday as the centre-right alliance of former president Nicolas Sarkozy won a sizeable victory. Early results indicated Sarkozy's coalition had taken between 64 and 70 councils

Published 30 Mar, 2015 12:00am

Flood management plan: irrigation department to conduct survey of affected areas

Flood management plan: irrigation department to conduct survey of affected areas

Provincial Minister for Irrigation and Chairman PIDA, Mian Yawar Zaman, has said that Irrigation Department has decided to conduct a survey of potentially affected areas for evolving flood management plan. The purpose of the decision is to compile a data

Published 30 Mar, 2015 12:00am

PTI's Barrister Sultan wins AJK by-election

PTI's Barrister Sultan wins AJK by-election

Barrister Sultan Mahmood of Pakistan Tehreek-e-Insaf (PTI) on Sunday won the by-election in Azad Kashmir, Aaj News reported. According to unofficial results, Barrister Sultan secured 15, 691 votes against PPP candidate Chaudhry Ashraf, who got 12, 811 vot

Published 30 Mar, 2015 12:00am

Potato crop in Punjab: rains, cold weather delay harvesting

Potato crop in Punjab: rains, cold weather delay harvesting

The more than normal rains in the month of March and moisture level above 70 percent have delayed harvesting of ripe potato crop and sowing of spring maize (corn) this season, Director General, Agriculture Extension Services, Dr Anjum Ali told Business Re

Published 30 Mar, 2015 12:00am

PTI's Barrister Sultan wins AJK by-election

PTI's Barrister Sultan wins AJK by-election

Barrister Sultan Mahmood of Pakistan Tehreek-e-Insaf (PTI) on Sunday won the by-election in Azad Kashmir, Aaj News reported. According to unofficial results, Barrister Sultan secured 15, 691 votes against PPP candidate Chaudhry Ashraf, who got 12, 811 vot

Published 30 Mar, 2015 12:00am

Microfinance is about dignity building: Founder & MD, Kashf Foundation

Microfinance is about dignity building: Founder & MD, Kashf Foundation

Roshaneh Zafar is the Founder and Managing Director of the Kashf Foundation, one of Pakistan's leading microfinance providers. Established in 1996, the Kashf Foundation has helped hundreds of thousands of low-income women lead lives of dignity through eco

Published 30 Mar, 2015 12:00am

Tax relief to KP, Fata and Pata: President reverses FTO's order

Tax relief to KP, Fata and Pata: President reverses FTO's order

The President while reversing the order passed by Federal Tax Ombudsman (FTO) has termed that three years tax exemption to KPK-FATA/PATA areas under clause 126 F of Second Schedule of Income Tax Ordinance 2001 is not applicable in the cases which are subj

Published 30 Mar, 2015 12:00am

Microfinance is about dignity building: Founder & MD, Kashf Foundation

Microfinance is about dignity building: Founder & MD, Kashf Foundation

Roshaneh Zafar is the Founder and Managing Director of the Kashf Foundation, one of Pakistan's leading microfinance providers. Established in 1996, the Kashf Foundation has helped hundreds of thousands of low-income women lead lives of dignity through eco

Published 30 Mar, 2015 12:00am

Jihadist chief killed as thousands march in Tunisia

Jihadist chief killed as thousands march in Tunisia

Tunisia said Sunday it had killed the leader of the jihadists behind the massacre at its national museum, as foreign leaders joined thousands of Tunisians in a march against extremism. Chanting "Tunisia is free! Terrorism out!" the demonstrators marched i

Published 30 Mar, 2015 12:00am

Criticality of dams

Criticality of dams

That leaders from Egypt, Ethiopia and Sudan have signed a co-operation deal over a giant Ethiopian hydroelectric dam on a tributary of the river Nile, in a bid to ease tensions over regional water supplies, is a development that throws up an opportunity f

Published 30 Mar, 2015 12:00am

LHC suspends FBR's circular to file prosecution suit against tax lawyer

LHC suspends FBR's circular to file prosecution suit against tax lawyer

The Lahore High Court (LHC) has suspended the Circular issued by Federal Board of Revenue (FBR) wherein the FBR had directed the Commissioner Inland Revenue (Appeals-II) Lahore to file a prosecution suit against a tax lawyer.

Published 30 Mar, 2015 12:00am

The Juggler? Bismarck as a model? Germany's current role in Europe

The Juggler? Bismarck as a model? Germany's current role in Europe

Honest broker or regional hegemon: How should Berlin behave as Europe's political and economic heavyweight? In the 200th anniversary year of the birth of Otto von Bismarck, should the Prussian statesman serve as an example for current German policies?

Published 30 Mar, 2015 12:00am

Tokyo eyes informal six-way talks on North Korea

Tokyo eyes informal six-way talks on North Korea

Japan has sounded out other members of long-stalled talks about North Korea's nuclear programme about holding an informal meeting in Tokyo possibly by the end of June, reports said Sunday. Japan hopes to bring together envoys from the six states involved

Published 30 Mar, 2015 12:00am

Economic leaders debate China's rising role in global finance

Economic leaders debate China's rising role in global finance

The launch of a China-backed Asian infrastructure development and Beijing's idea for a "Silk Road" economic belt were focal points of the annual Boao Forum for Asia. Analysts say some nations are cautious of China's growing influence, but keen to reap fin

Published 30 Mar, 2015 12:00am

Sri Lanka pledges 'political solution' in war-torn north

Sri Lanka pledges 'political solution' in war-torn north

Sri Lanka's new Prime Minister Ranil Wickremesinghe has pleadged a "political solution" for the island's war-torn north, where ethnic minority Tamils have long demanded greater autonomy. During a two-day visit to the Tamil heartland of Jaffna, Wickremesin

Published 30 Mar, 2015 12:00am

The politics of statistics: inflation

The politics of statistics: inflation

There is considerable criticism levelled against finance minister Ishaq Dar's data manipulation, particularly inflation the most closely watched statistic in any country, with the objective of showing a picture rosier than is in fact the case. He has repe

Published 30 Mar, 2015 12:00am

THE RUPEE: manages to recover

THE RUPEE: manages to recover

An upward trend prevailed on the money market as the rupee improved with modest gains against the dollar and euro during the week, ended on March 28, 2015. In the interbank market, the rupee picked up 10 paisas versus the dollar for buying and selling at

Published 30 Mar, 2015 12:00am

Privatisation Commission must ensure transparency

Privatisation Commission must ensure transparency

According to a press release, the Chairman of Privatisation Commission (PC) Mohammad Zubair gave a detailed presentation on the progress of privatisation to the Federal Finance Minister Ishaq Dar who then directed him to ensure transparency in all transac

Published 30 Mar, 2015 12:00am

THE RUPEE: manages to recover

THE RUPEE: manages to recover

An upward trend prevailed on the money market as the rupee improved with modest gains against the dollar and euro during the week, ended on March 28, 2015. In the interbank market, the rupee picked up 10 paisas versus the dollar for buying and selling at

Published 30 Mar, 2015 12:00am

A welcome change in parliamentarians' attitude

A welcome change in parliamentarians' attitude

It was not long ago that political leaders of the country used to insist on various types of tax exemptions and canvass for increased expenditures on their pet projects. Although old habits die hard, times seemed to have changed as there appears to be som

Published 30 Mar, 2015 12:00am

Futures spreads up by 549 basis points

Futures spreads up by 549 basis points

Futures spreads grew by 549 basis points to reach 15.64 percent compared to 10.15 percent of the preceding week. The week under review saw the average trading turnover increasing by 201.3 percent to 63.85 million shares from the previous week''''s 21.19 m

Published 30 Mar, 2015 12:00am

ICRC organises two-day training course on International humanitarian law

ICRC organises two-day training course on International humanitarian law

Department of Shariah and Law, Islamia College University Peshawar (ICUP) in collaboration with the International Committee of Red Cross (ICRC) organised a two-day training course on 'International Humanitarian Law' at the Henry Dunant Room of the varsity

Published 30 Mar, 2015 12:00am

Futures spreads up by 549 basis points

Futures spreads up by 549 basis points

Futures spreads grew by 549 basis points to reach 15.64 percent compared to 10.15 percent of the preceding week. The week under review saw the average trading turnover increasing by 201.3 percent to 63.85 million shares from the previous week''s 21.19 mil

Published 30 Mar, 2015 12:00am

Customs Collectorate trains clearing agents on customs laws

Customs Collectorate trains clearing agents on customs laws

Model Customs Collectorate Peshawar completed training courses for about 70 customs clearing and forwarding agents. The training courses conducted from March 16 to 21, 2015 were included Customs Act-1969, Customs Rules 2001, Classification of Goods and HS

Published 30 Mar, 2015 12:00am

Futures spreads up by 549 basis points

Futures spreads up by 549 basis points

Futures spreads grew by 549 basis points to reach 15.64 percent compared to 10.15 percent of the preceding week. The week under review saw the average trading turnover increasing by 201.3 percent to 63.85 million shares from the previous week's 21.19 mill

Published 30 Mar, 2015 12:00am

Tribesmen demand resolution of Mafi-Grifth Award issue

Tribesmen demand resolution of Mafi-Grifth Award issue

Tribal elders and MNA from Khyber Agency Shahji Gul Afridi have demanded of the federal government to restore Mafi-Grifth award. While speaking at a seminar organised by Tanzeem-Nawjawanan Kokikhel Jamrud, here at Peshawar Press Club, Shahji Gul criticise

Published 30 Mar, 2015 12:00am

Futures spreads up by 549 basis points

Futures spreads up by 549 basis points

Futures spreads grew by 549 basis points to reach 15.64 percent compared to 10.15 percent of the preceding week. The week under review saw the average trading turnover increasing by 201.3 percent to 63.85 million shares from the previous week's 21.19 mill

Published 30 Mar, 2015 12:00am

Two Afghans held for illegal stay

Two Afghans held for illegal stay

Rawat Police on Sunday arrested two Afghan nationals for residing illegally in the city. The Afghans identified as Akhtar Gul and Aqil Gul could provide proper documentation to justify their stay in the country.

Published 30 Mar, 2015 12:00am

Negative trend persists

Negative trend persists

The Karachi stocks market braved the fifth consecutive bearish weekly closing last week. The week that ended on Friday, March 27, saw the KSE-100 index shedding 5.7 percent or 1,842.43 points to close below the psychological barrier of 30,000 points. The

Published 30 Mar, 2015 12:00am

Seminar on 'health and safety in engineering' held

Seminar on 'health and safety in engineering' held

The Society of Mining Engineers (SMEs) on "Health and Safety in Engineering" organised a seminar in collaboration with BESAF Training and Services, and Technocrats Institute of Health and Safety, Peshawar.

Published 30 Mar, 2015 12:00am

Negative trend persists

Negative trend persists

The Karachi stocks market braved the fifth consecutive bearish weekly closing last week. The week that ended on Friday, March 27, saw the KSE-100 index shedding 5.7 percent or 1,842.43 points to close below the psychological barrier of 30,000 points. The

Published 30 Mar, 2015 12:00am

Subsidised agricultural inputs: KP chief minister asks finance department to avoid cuts on approved schemes

Subsidised agricultural inputs: KP chief minister asks finance department to avoid cuts on approved schemes

Khyber Pakhtunkhwa Chief Minister Pervez Khattak has directed the finance department to avoid any financial cut on approved schemes of subsidised agriculture inputs and other initiatives aimed at economic development and welfare of the common people.

Published 30 Mar, 2015 12:00am

Negative trend persists

Negative trend persists

The Karachi stocks market braved the fifth consecutive bearish weekly closing last week. The week that ended on Friday, March 27, saw the KSE-100 index shedding 5.7 percent or 1,842.43 points to close below the psychological barrier of 30,000 points. The

Published 30 Mar, 2015 12:00am

CJF felicitates Presidential Awards' recipients

CJF felicitates Presidential Awards' recipients

The Culture Journalists Forum (CJF) has felicitated the recipients of presidential awards -Asif Khan, Nuashaba and Laiqzada Laiq. Members of the CJF held a meeting here with Ihtisham Toru in the chair. The forum urged the concerned quarters to continue de

Published 30 Mar, 2015 12:00am

Fighting, air strikes across Yemen, dialogue remains distant

Fighting, air strikes across Yemen, dialogue remains distant

Yemeni fighters loyal to the Saudi-backed President Abd-Rabbu Mansour Hadi clashed with Iranian-allied Houthi fighters on Sunday in downtown Aden, the absent leader's last major foothold in the country. Hadi loyalists in the southern port city reported a

Published 30 Mar, 2015 12:00am

Shops, industrial & commercial establishments: KP to legislate for workers, employment conditions

Shops, industrial & commercial establishments: KP to legislate for workers, employment conditions

The provincial government of Khyber Pakhtunkhwa is making legislation for specifying working hours and other conditions of work and employment of persons employed in shops, commercial, industrial establishments and others in the province. The Bill to beco

Published 30 Mar, 2015 12:00am

Fighting, air strikes across Yemen, dialogue remains distant

Fighting, air strikes across Yemen, dialogue remains distant

Yemeni fighters loyal to the Saudi-backed President Abd-Rabbu Mansour Hadi clashed with Iranian-allied Houthi fighters on Sunday in downtown Aden, the absent leader's last major foothold in the country. Hadi loyalists in the southern port city reported a

Published 30 Mar, 2015 12:00am

Abdul Basit appointed Chairman PBIT

Abdul Basit appointed Chairman PBIT

Abdul Basit has been appointed as the Chairman Punjab Board of Investment & Trade (PBIT). Abdul Basit is the Founder Chairman of Big Bird Group of Companies. He is on board of Punjab Agriculture & Meat Company, TEVTA and member of the Pakistan-France Busi

Published 30 Mar, 2015 12:00am

Arab leaders agree joint military force

Arab leaders agree joint military force

Arab leaders agreed on Sunday to form a joint military force after a summit dominated by a Saudi-led offensive on Shia rebels in Yemen and the threat from Islamist extremism. Arab representatives will meet over the next month to study the creation of the

Published 30 Mar, 2015 12:00am

PCI, CWPF sign MoU for promoting regional connectivity

PCI, CWPF sign MoU for promoting regional connectivity

Pakistan-China Institute (PCI), under the chairmanship of Senator Mushahid Hussain Sayed, has signed a Memorandum of Understanding (MoU) with a visiting Chinese NGO, China World Peace Foundation delegation (CWPF). The Chinese NGO team led by its Chairman,

Published 30 Mar, 2015 12:00am

Arab leaders agree joint military force

Arab leaders agree joint military force

Arab leaders agreed on Sunday to form a joint military force after a summit dominated by a Saudi-led offensive on Shia rebels in Yemen and the threat from Islamist extremism. Arab representatives will meet over the next month to study the creation of the

Published 30 Mar, 2015 12:00am

Rs 6,832 million released to FATA under development portfolio

Rs 6,832 million released to FATA under development portfolio

The Federal government has so far released Rs 6832 million to Federally Administered Tribal Areas (FATA) under development portfolio during the current financial year. The total development portfolio is Rs 17.08 billion, reflected in Public Sector Develop

Published 30 Mar, 2015 12:00am

Yemen war: Pakistanis evacuated

Yemen war: Pakistanis evacuated

Pakistan on Sunday evacuated more than 500 of its citizens from Yemen by jumbo jet and sent a naval frigate to rescue others stranded in the war-torn country, officials said. Shujaat Azeem, aviation advisor to the prime minister, said the PIA flight carry

Published 30 Mar, 2015 12:00am

Lloyd's Register looks to expand nuclear role in South Korea

Lloyd's Register looks to expand nuclear role in South Korea

Britain's Lloyd's Register Group Ltd wants to expand its involvement in South Korea's nuclear industry to decommissioning from its current role of reactor equipment and manufacturer inspector, Chief Executive Richard Sadler said on Monday. Since 2013 the

Published 30 Mar, 2015 12:00am

Yemen war: Pakistanis evacuated

Yemen war: Pakistanis evacuated

Pakistan on Sunday evacuated more than 500 of its citizens from Yemen by jumbo jet and sent a naval frigate to rescue others stranded in the war-torn country, officials said. Shujaat Azeem, aviation advisor to the prime minister, said the PIA flight carry

Published 30 Mar, 2015 12:00am

Top US forecaster says jobs data adding up to a rate rise

Top US forecaster says jobs data adding up to a rate rise

The steady drop in the US unemployment rate has set up a simple set of arithmetic that will lead to a Federal Reserve interest rate rise soon to ward off future inflation, according to the most accurate forecaster in Reuters polls last year.

Published 30 Mar, 2015 12:00am

Iran, powers explore nuclear compromises

Iran, powers explore nuclear compromises

Iran and six world powers tried to break an impasse in nuclear negotiations on Sunday, but officials cautioned that attempts to reach a preliminary deal by a deadline in two days could yet fall apart. The two sides explored compromises in areas including

Published 30 Mar, 2015 12:00am

Kuwait's Zain seeks to repatriate $280 million from Sudan

Kuwait's Zain seeks to repatriate $280 million from Sudan

Kuwait and Sudan are in talks to help telecom operator Zain repatriate $280 million worth of Sudanese pounds, the company's chairman said on Tuesday.

Published 30 Mar, 2015 12:00am

Iran, powers explore nuclear compromises

Iran, powers explore nuclear compromises

Iran and six world powers tried to break an impasse in nuclear negotiations on Sunday, but officials cautioned that attempts to reach a preliminary deal by a deadline in two days could yet fall apart. The two sides explored compromises in areas including

Published 30 Mar, 2015 12:00am

SoftBank leads group to buy up to $1bn stake in India's Micromax

SoftBank leads group to buy up to $1bn stake in India's Micromax

A group of investors led by Japanese mobile telecom firm SoftBank Corp is in talks to buy a 20 percent stake in Indian handset maker Micromax Informatics for up to $1 billion, two people aware of the discussions said.

Published 30 Mar, 2015 12:00am

Russian wheat arriving in Egypt after export tax delays

Russian wheat arriving in Egypt after export tax delays

Russian wheat purchased by Egypt's state grain buyer is arriving after delays in shipments in the run-up to new Russian wheat export taxes, traders said on Tuesday. "Ships are now arriving in Egypt, at least two," one European trader said. "The full expor

Published 30 Mar, 2015 12:00am

Sterling-based cocoa contract seen enduring euro denominated upstarts

Sterling-based cocoa contract seen enduring euro denominated upstarts

ICE's sterling-denominated cocoa futures contract faces a challenge from two euro-based contenders this month, but the odds look stacked in favour of the established market.

Published 30 Mar, 2015 12:00am

Valeant preps second largest ever high-yield bond

Valeant preps second largest ever high-yield bond

Pharma giant Valeant would be pricing the second largest high-yield trade on record if it goes ahead as planned and raises US $9.6bn issuing bonds in coming months to partly finance its acquisition of Salix Pharmaceuticals, IFR data shows.

Published 30 Mar, 2015 12:00am

Valeant preps second largest ever high-yield bond

Valeant preps second largest ever high-yield bond

Pharma giant Valeant would be pricing the second largest high-yield trade on record if it goes ahead as planned and raises US $9.6bn issuing bonds in coming months to partly finance its acquisition of Salix Pharmaceuticals, IFR data shows.

Published 30 Mar, 2015 12:00am

IG Group offers some deals on Swiss franc losses

IG Group offers some deals on Swiss franc losses

Retail foreign exchange broker IG Group has offered some clients in Germany discounts on debts incurred in the turmoil that followed Switzerland's removal of a cap on the Swiss franc, two clients told Reuters.

Published 30 Mar, 2015 12:00am

Shale oil to dominate Russia-OPEC talks in June

Shale oil to dominate Russia-OPEC talks in June

Russia said on Wednesday it would meet OPEC in June to discuss the impact of shale oil on global markets, just days before the producers' group decides whether its policy of high production is sufficient to stifle the US energy boom. The comment, from Rus

Published 30 Mar, 2015 12:00am

More pain for oil as hedge funds' bullish wagers hit December lows

More pain for oil as hedge funds' bullish wagers hit December lows

Hedge funds and other big speculators in oil have cut their bullish wagers on US crude to December lows, data showed on Friday, signalling the possibility of more pain for oil prices after last month's rebound.

Published 30 Mar, 2015 12:00am

More pain for oil as hedge funds' bullish wagers hit December lows

More pain for oil as hedge funds' bullish wagers hit December lows

Hedge funds and other big speculators in oil have cut their bullish wagers on US crude to December lows, data showed on Friday, signalling the possibility of more pain for oil prices after last month's rebound.

Published 30 Mar, 2015 12:00am

Staples may slip into junk on debt-funded merger

Staples may slip into junk on debt-funded merger

Moody's and Standard & Poor's warned the credit rating of US office supplies giant Staples could drop to junk due to a merger with Office Depot that could make it hard to pay down debt.

Published 30 Mar, 2015 12:00am

Staples may slip into junk on debt-funded merger

Staples may slip into junk on debt-funded merger

Moody's and Standard & Poor's warned the credit rating of US office supplies giant Staples could drop to junk due to a merger with Office Depot that could make it hard to pay down debt.

Published 30 Mar, 2015 12:00am

Egypt no longer sees full tourism recovery in 2015

Egypt no longer sees full tourism recovery in 2015

Egypt no longer expects its tourism industry, battered by three years of political upheaval, violence and street protests, to fully recover by the end of the year, the tourism minister said.

Published 30 Mar, 2015 12:00am

Argentine farm group threatens more grain sale strikes

Argentine farm group threatens more grain sale strikes

Argentine farmers will probably hold more protests if the government does not offer to respond to their grievances following a suspension of grains sales planned for this week, a major growers' group said on Tuesday.

Published 30 Mar, 2015 12:00am

Oil price crash raises risk of Canada housing market correction

Oil price crash raises risk of Canada housing market correction

The recent collapse in oil prices has heightened risks that Canada's long housing boom is due for a correction, according to a Reuters poll. Nearly three-quarters of forecasters polled said the chances of a sharp fall in home prices have risen compared wi

Published 30 Mar, 2015 12:00am

Sierra Leone hopes for economic bounce post-Ebola

Sierra Leone hopes for economic bounce post-Ebola

Sierra Leone could see growth rebound to double digits over the next 3-5 years as it emerges from the Ebola crisis and plans to tap its diaspora to raise funds for development, its foreign minister said. The west African country's economy was ravaged by t

Published 30 Mar, 2015 12:00am

US mall king Simon raises bid for Macerich

US mall king Simon raises bid for Macerich

US mall king Simon Property Group raised its bid Friday for Macerich Co. by five percent, saying it was "its best and final offer" for the smaller shopping center owner. Simon, which announced a hostile bid for Macerich on March 9 after friendly overtures

Published 30 Mar, 2015 12:00am

Sony virtual reality head gear set for 2016 release

Sony virtual reality head gear set for 2016 release

Sony was at a major game developers gathering Wednesday showing off a prototype of "Morpheus" virtual reality head gear set for release next year. The Japanese consumer electronics titan did not disclose how much it planned to charge for the virtual reali

Published 30 Mar, 2015 12:00am

MONDAY MARCH 23: Isolated pockets: terrorists to be targeted with precision: COAS

MONDAY MARCH 23: Isolated pockets: terrorists to be targeted with precision: COAS

Published 30 Mar, 2015 12:00am

Nintendo steps into smartphone games market

Nintendo steps into smartphone games market

Nintendo said Tuesday it was teaming up with a mobile gaming company to develop games for smartphones in what could be a turning point for the Japanese giant which has long refused to enter the soaring market. The maker of the iconic Super Mario and Pokem

Published 30 Mar, 2015 12:00am

MONDAY MARCH 23: Military stages mega show of prowess today

MONDAY MARCH 23: Military stages mega show of prowess today

Published 30 Mar, 2015 12:00am

Swedish minister says needs to do more on inflation

Swedish minister says needs to do more on inflation

The Swedish government, due to present its budget next month, will encourage investment in sectors like housing to support ultra-loose monetary policy, Finance Minister Magdalena Andersson said on Monday. The AAA-rated economy, seen as a safe haven from t

Published 30 Mar, 2015 12:00am

TUESDAY MARCH 24: Structural impediments mar growth

TUESDAY MARCH 24: Structural impediments mar growth

Published 30 Mar, 2015 12:00am

US Fed still set to raise rates in June, but close call

US Fed still set to raise rates in June, but close call

The US Federal Reserve remains on course to raise interest rates in June as a rapidly strengthening labour market and its eventual upward pressure on wages offsets lingering concerns about low inflation, a Reuters poll showed.

Published 30 Mar, 2015 12:00am

TUESDAY MARCH 24: Energy woes: Qatar to lend a helping hand

TUESDAY MARCH 24: Energy woes: Qatar to lend a helping hand

Published 30 Mar, 2015 12:00am

FDA seeks to speed updates to 'superbug' device labels

FDA seeks to speed updates to 'superbug' device labels

The US Food and Drug Administration is working to speed label changes for medical devices linked to a "superbug" outbreak in California, possibly to include new warnings and more stringent cleaning and disinfecting instructions, a senior official said.

Published 30 Mar, 2015 12:00am

WEDNESDAY MARCH 25: Technical issues stall final LNG deal

WEDNESDAY MARCH 25: Technical issues stall final LNG deal

Published 30 Mar, 2015 12:00am

JetBlue sued by former pilot who had midair meltdown

JetBlue sued by former pilot who had midair meltdown

A former JetBlue Airways Corp pilot whose midair meltdown forced an emergency landing of a 2012 flight on Friday sued the carrier for $14.9 million, saying it should have grounded him because it knew he was incapable of flying.

Published 30 Mar, 2015 12:00am

WEDNESDAY MARCH 25: Sindh seeks a bigger say in gas matters

WEDNESDAY MARCH 25: Sindh seeks a bigger say in gas matters

Published 30 Mar, 2015 12:00am

Yahoo, Microsoft extend search partnership talks for 30 days

Yahoo, Microsoft extend search partnership talks for 30 days

Yahoo Inc and Microsoft Corp agreed to extend by 30 days the deadline to re-negotiate a ten year search deal, as the two Internet companies attempt to revamp a thorny partnership crafted by former chief executives.

Published 30 Mar, 2015 12:00am

THURSDAY MARCH 26: First shipment to arrive on March 29

THURSDAY MARCH 26: First shipment to arrive on March 29

Published 30 Mar, 2015 12:00am

Visa to miss deadline for new Russia payment system, Mastercard on time

Visa to miss deadline for new Russia payment system, Mastercard on time

Visa still needs one or two months to transfer processing of transactions made on its credit cards in Russia to a local payment system, but Mastercard will make an obligatory April 1 deadline, the head of the payment system said.

Published 30 Mar, 2015 12:00am

THURSDAY MARCH 26: LNG deal: Details won't be released: Khaqan

THURSDAY MARCH 26: LNG deal: Details won't be released: Khaqan

Published 30 Mar, 2015 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 4	277.97
USD PKR Interbank Buying / Dec 4	277.77
USD to Japanese Yen / Dec 4	150.37
USD to Swiss Franc / Dec 4	0.89
Pound Sterling to USD / Dec 4	1.27
Euro to USD / Dec 4	1.05

Stock	Volume
S&P 500 / Dec 3	6,049.87
Nasdaq / Dec 3	19,480.91
Dow Jones / Dec 3	44,705.53
India Sensex / Dec 4	80,956.33
Tokyo Nikkei / Dec 4	39,276.39
Hang Seng / Dec 4	19,742.46
FTSE 100 / Dec 4	8,328.12
Germany DAX 30 / Dec 4	20,195.75

Item	Value
Karachi Cotton PKR/37.32 KG / Dec 3	17,685
Crude Oil USD/Barrel / Dec 4	70.17
Gold 10 Grams PKR / Dec 4	235,940
Gold Spot USD/Ounce / Dec 4	2,644.45
Cotton US¢/pound / Dec 4	71.11
Petrol/Litre / Dec 5	252.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	7.17 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	639.72 ▼ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	64.26 ▼ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	151.49 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	1,117.32 ▼ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	13.57 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	7.17 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	639.72 ▲ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	64.26 ▲ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	151.49 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	1,117.32 ▲ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	13.57 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Dec 5 Worldcall Telecom Limited(WTL)	257,531,069 ▲ 0.00
Cnergyico PK / Dec 5 Cnergyico PK Limited(CNERGY)	213,200,271 ▲ 0.00
Pak Int.Bulk / Dec 5 Pakistan International Bulk Terminal(PIBTL)	89,650,764 ▲ 0.00
Pak Elektron / Dec 5 Pak Elektron Limited(PAEL)	75,744,156 ▲ 0.00
Power Cement / Dec 5 Power Cement Limited(POWER)	69,203,491 ▲ 0.00
Pak Refinery / Dec 5 Pakistan Refinery Limited(PRL)	58,983,939 ▲ 0.00
Sui South Gas / Dec 5 Sui Southern Gas Company Limited(SSGC)	37,808,495 ▲ 0.00
Symmetry Group / Dec 5 Symmetry Group Limited(SYM)	34,391,285 ▲ 0.00
TPL Properties / Dec 5 TPL Properties Limited(TPLP)	33,952,255 ▲ 0.00

Markets →

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FBR imposes new condition on overseas Pakistanis

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World Bank estimates total external debt stocks at $130.847bn by end 2023

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Govt says IMF programme facing no disruptions

Govt says IMF programme facing no disruptions

Banks’ ADR recorded at 47pc as of Nov 15th

Banks’ ADR recorded at 47pc as of Nov 15th

FBR tells SC: Rs880m recovered from people holding foreign accounts, properties

FBR tells SC: Rs880m recovered from people holding foreign accounts, properties

Another significant cut in key policy rate expected as inflation eases

Another significant cut in key policy rate expected as inflation eases

Pakistan defers LNG contract with Qatar for a year, petroleum minister says

Pakistan defers LNG contract with Qatar for a year, petroleum minister says