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Print - 2015-03-31
Japan Consulate General holds speech contest

Japan Consulate General holds speech contest

The 30th Japanese Language Speech Contest was jointly organized by the Consulate-General of Japan in Karachi and Pakistan Japan Cultural Association (PJCA), Sindh at the Japan Information and Culture Center.
Published 31 Mar, 2015 12:00am
PSM resumes 2mm size HR production

PSM resumes 2mm size HR production

"The Organisation is moving from self belief to self-reliance". Chief Executive Officer Pakistan Steel Major General Zaheer Ahmed Khan (retd) Hilal-e-Imtiaz (Military) said Pakistan Steel Mills had resumed the production of its "Thin Profile Coils", Hot R
Published 31 Mar, 2015 12:00am
Dar reviews progress on K2, K3 nuclear energy projects

Dar reviews progress on K2, K3 nuclear energy projects

Federal Minister for Finance Senator Ishaq Dar chaired a meeting on Monday here at the Finance Ministry which reviewed the progress so far being made on the K22, K3 nuclear energy projects Secretary Economic Affairs Division (EAD), Saleem briefed the meet
Published 31 Mar, 2015 12:00am
Call to highlight issues of psychophysiological aspects of cancer

Call to highlight issues of psychophysiological aspects of cancer

The 14th Biennial International Conference of Pakistan Physiological Society titled 'Physiology in Health Care' organized by Department of Physiology, University of Sindh (SU) concluded here on Monday with the recommendations to highlight the burning issu
Published 31 Mar, 2015 12:00am
KATI chief urges govt to release businessmen's stuck up money

KATI chief urges govt to release businessmen's stuck up money

The patron-in-chief of Korangi Association of Trade & Industry and chief executive of Trade Development Authority of Pakistan (TDAP), S M Muneer, has said that Pakistan's exports could increase by $5 billion provided businessmen's stuck up refunds, amount
Published 31 Mar, 2015 12:00am
Government diverts LNG to fertilizer sector?

Government diverts LNG to fertilizer sector?

The government has reportedly diverted LNG to fertilizer sector from power sector in violation of the decision of the Economic Coordination Committee of the Cabinet (ECC), well informed sources in Water and Power Ministry told Business Recorder.
Published 31 Mar, 2015 12:00am
Government diverts LNG to fertilizer sector?

Government diverts LNG to fertilizer sector?

The government has reportedly diverted LNG to fertilizer sector from power sector in violation of the decision of the Economic Coordination Committee of the Cabinet (ECC), well informed sources in Water and Power Ministry told Business Recorder.
Published 31 Mar, 2015 12:00am
Bail granted to three suspects

Bail granted to three suspects

The Lahore High Court on Monday granted bail to three suspects involved in attacking participants of a candle-vigil held at the Liberty Roundabout to mark the fourth death anniversary of Salman Taseer. Adeel, Irfan and Furqan claimed that the police arres
Published 31 Mar, 2015 12:00am
Polani congratulates new members of TAAP

Polani congratulates new members of TAAP

Muhammad Yahya Polani, leader of Businessman Panel on Monday congratulated the newly-elected members of Travel Agents Association of Pakistan (TAAP). In a statement issued here, he said that success of Businessman Panel in the election was an answer to al
Published 31 Mar, 2015 12:00am
Huawei, UET sign agreement

Huawei, UET sign agreement

The University of Engineering and Technology (UET) Lahore and Huawei Technologies Pakistan signed a historical agreement on March 25, to give UET Lahore the status of being a Huawei Authorized Network Academy. Being a HANA, UET Lahore now has a facility t
Published 31 Mar, 2015 12:00am
Two more children die in Thar

Two more children die in Thar

Malnutrition claimed lives of two more children in different areas of famine-hit district on Monday taking the ongoing year death toll to 250. Sources said that two children who were under treatment at Civil Hospital Mithi due to under-nourishment expired
Published 31 Mar, 2015 12:00am
Three more target killers arrested in Karachi

Three more target killers arrested in Karachi

The City police on Monday claimed to have arrested three target killers besides apprehending one allegedly involved in a deadly attack on Rangers' mobile in Karachi. According to police, Bilal Qureshi, alias Chingari, a notorious target killer involved in
Published 31 Mar, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 30, 2015).

Published 31 Mar, 2015 12:00am
REWA not to participate in ARSEA protest

REWA not to participate in ARSEA protest

Registration Employees Welfare Association (REWA) has said that it would not participate in the protest or sit-in being held on March 31 (today) as announced by All Revenue Sindh employees Association (ARSEA). President REWA, Shakir Ali Bhugio said this w
Published 31 Mar, 2015 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 30, 2015).
Published 31 Mar, 2015 12:00am
Call not to hand over government-run schools to NGOs

Call not to hand over government-run schools to NGOs

Save Education Movement has demanded that the handing over the government-run schools to NGOs should be stopped immediately to save education for poor in the province. Leader of the movement, Muhammad Naeem Noorani and Younas Qureshi, while addressing a p
Published 31 Mar, 2015 12:00am
One killed, girl injured in incidents of violence

One killed, girl injured in incidents of violence

A man was killed while a girl injured in two separate incidence of violence here on Monday. According to police and rescue sources, Muhammad Rafiq, 30, was shot and killed by unidentified man in Korangi in the jurisdiction of Zaman Town police station. In
Published 31 Mar, 2015 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (March 30, 2015).

Published 31 Mar, 2015 12:00am
Disqualification of parliamentarian: CJP refers matter to larger bench

Disqualification of parliamentarian: CJP refers matter to larger bench

The Chief Justice Nasirul Mulk Monday decided to form a larger bench to hear a matter relating to disqualification of a parliamentarian under Articles 62 and 63 of the Constitution of Pakistan. Samiullah Baloch had filed a petition in the Supreme Court ch
Published 31 Mar, 2015 12:00am
China's yuan moves up

China's yuan moves up

China's yuan firmed against the dollar on Monday despite a slightly weaker midpoint set by the central bank. The People's Bank of China set the midpoint rate at 6.1402 per dollar prior to market open, weaker than the previous fix 6.1397.
Published 31 Mar, 2015 12:00am
Canadian $ softens on lower oil prices, weak data

Canadian $ softens on lower oil prices, weak data

The Canadian dollar was weaker against its US counterpart on Monday in light trading, pressured by lower oil prices and as investors looked ahead to domestic data later this week. US data showed consumer spending rose negligibly in February, the latest si
Published 31 Mar, 2015 12:00am
Dollar rises against yen in Asia

Dollar rises against yen in Asia

The dollar inched higher versus the yen and euro on Monday after the head of the US Federal Reserve underscored the view that the Fed is likely to start raising interest rates gradually later this year. The dollar edged up 0.1 percent to 119.24 yen. It ha
Published 31 Mar, 2015 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 30, 2015).

Published 31 Mar, 2015 12:00am
Early trade in New York: euro falls on Greece debt worries

Early trade in New York: euro falls on Greece debt worries

The euro slumped against the dollar on Monday on worries over whether Greece would secure aid before it runs out of cash in three weeks, while the greenback gained versus other currencies on the view the Federal Reserve will raise US interest rates this y
Published 31 Mar, 2015 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (March 30, 2015).

Published 31 Mar, 2015 12:00am
Euro down in Europe on Greece uncertainty

Euro down in Europe on Greece uncertainty

The euro fell on Monday, hurt by uncertainty over whether Greece and its creditors will be able to strike a deal that will help Athens secure funding before it runs out of money by April 20. Talks continued through the weekend and Athens sounded upbeat, b
Published 31 Mar, 2015 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 30, 2015).

Published 31 Mar, 2015 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 31 Mar, 2015 12:00am
South Africa's rand hits one-week low

South Africa's rand hits one-week low

South Africa's rand extended losses against the dollar on Monday, hitting a new one-week low, as a basket of currencies suffered at the hand of a stronger greenback. At 1437 GMT the rand was trading 0.74 percent weaker at 12.1240 to the dollar compared wi
Published 31 Mar, 2015 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 31 Mar, 2015 12:00am
Patient Yellen fails to lift Asia FX

Patient Yellen fails to lift Asia FX

Most emerging Asian currencies slid on Monday amid expectations that the US Federal Reserve will start raising interest rates later this year, even though its chief reiterated that it may not rush to tighten monetary policy. The Malaysian ringgit hit a on
Published 31 Mar, 2015 12:00am
Egyptian pound steady on official

Egyptian pound steady on official

Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the domestic currency weakened on the black market. The central bank has kept the official exchange rate steady for more than a month afte
Published 31 Mar, 2015 12:00am
Police track down South Africa-based extortionist 'Mirza Bhai'

Police track down South Africa-based extortionist 'Mirza Bhai'

An anti-terrorism court in Karachi on Monday issued lifetime arrest warrants for South Africa-based Hafiz Furqan alias 'Mirza Bhai', accused of extorting money from doctors in India and Pakistan. According to police, Furqan is in hiding in South Africa an
Published 31 Mar, 2015 12:00am
Sri Lankan rupee forwards slip

Sri Lankan rupee forwards slip

Sri Lankan rupee forwards ended weaker on Monday as importer dollar demand outpaced inflows from remittances and exporter sales, dealers said. Actively traded one-week forwards ended at 133.60/70 per dollar, sliding from Friday's close of 133.52/57, while
Published 31 Mar, 2015 12:00am
Pound hurt by political doubts

Pound hurt by political doubts

Sterling fell against the dollar and the euro on Monday, weighed down on the first official day of a national election campaign that looks set to give no party an outright majority. With parliament dissolved, Prime Minister David Cameron went to Buckingha
Published 31 Mar, 2015 12:00am
Aussie dollar slips

Aussie dollar slips

The Australian dollar slipped to fresh one-week lows on Monday, falling for a fifth session in a move that is likely to fuel its retreat from a two-month peak. Not helping the Aussie was persistent weakness in iron ore prices, which plumbed fresh lows on
Published 31 Mar, 2015 12:00am
EFU Life receives KSE Top Companies Award

EFU Life receives KSE Top Companies Award

EFU Life Assurance Limited, leading private sector life insurance company in the country, has been honoured for its excellent performance at the prestigious Karachi Stock Exchange (KSE) Top Companies Awards ceremony for the year 2013. Taher G. Sachak, CEO
Published 31 Mar, 2015 12:00am
Iran, six powers entrenched as clock ticks to nuclear deadline

Iran, six powers entrenched as clock ticks to nuclear deadline

Iran and major powers were struggling on Monday to reach a preliminary nuclear accord as "gloom" set in, with both sides sticking to their positions a day before a self-imposed deadline. For days Iran, the United States, Britain, France, Germany, Russia a
Published 31 Mar, 2015 12:00am
MQM suspends Faisal Sabzwari for not defending him in talk shows

MQM suspends Faisal Sabzwari for not defending him in talk shows

Muttahida Qaumi Movement (MQM) Chief Altaf Hussain has suspended party leader Faisal Sabzwari. According to sources, MQM chief Altaf Hussain not only suspended Faisal Sabzwari but also ordered him to tender his resignation from the Member of Provincial As
Published 31 Mar, 2015 12:00am
Federal agents stole Bitcoin in Silk Road probe

Federal agents stole Bitcoin in Silk Road probe

Two undercover federal agents in the investigation of Bitcoin market Silk Road extorted and stole hundreds of thousands of dollars worth of the virtual currency for themselves, the US said Monday.
Published 31 Mar, 2015 12:00am
Altaf withdraws resignation as MQM chief within hours

Altaf withdraws resignation as MQM chief within hours

After announcing to resign from leading the party, Muttahida Qaumi Movement (MQM) chief Altaf Hussain withdrew his decision within hours on the insistence of party workers on Monday. The MQM chief tendered his resignation from party leadership to party of
Published 31 Mar, 2015 12:00am
Boko Haram failed to disrupt Nigeria elections: UN

Boko Haram failed to disrupt Nigeria elections: UN

Boko Haram was unable to disrupt elections in Nigeria but its allegiance to Islamic State shows the group has an agenda that reaches well beyond Africa's most populous country, a UN envoy said Monday. Mohammad ibn Chambas, the UN envoy for West Africa, to
Published 31 Mar, 2015 12:00am
SECP further relaxes trading restrictions on KSL

SECP further relaxes trading restrictions on KSL

The Securities and Exchange Commission of Pakistan (SECP) has further relaxed regulatory restrictions on the trading facilities of KASB Securities Limited (KSL). The financially-troubled KSL has got a green signal from the apex regulator to execute IDS (I
Published 31 Mar, 2015 12:00am
US, UK fear possible interference in Nigeria vote count

US, UK fear possible interference in Nigeria vote count

US Secretary of State John Kerry and his British counterpart Philip Hammond Monday voiced fears over possible political interference in Nigeria's vote count, as the country awaited the results of weekend elections. "We have seen no evidence of systemic ma
Published 31 Mar, 2015 12:00am
Kohat Cement

Kohat Cement

Initially established as State Cement of Pakistan in 1984, Kohat Cement emerged as a result of the government's privatization policy when it was acquired by private investors in 1992 through open bidding. At that time, the company operated a Romanian ceme
Published 31 Mar, 2015 12:00am
British couple found shot dead at their home in Spain

British couple found shot dead at their home in Spain

An elderly British couple have been found shot dead in their villa in south-eastern Spain, Spanish police said Monday. Police discovered the body of the two, both aged 77, at their home in Xalo near Benidorm on Spain's Costa Blanca, on Sunday after friend
Published 31 Mar, 2015 12:00am
Kohat Cement

Kohat Cement

Initially established as State Cement of Pakistan in 1984, Kohat Cement emerged as a result of the government's privatization policy when it was acquired by private investors in 1992 through open bidding. At that time, the company operated a Romanian ceme
Published 31 Mar, 2015 12:00am
10 killed in Burundi landslides

10 killed in Burundi landslides

Landslides in Burundi have killed at least 10 people after torrential rains, a local governor said Monday, revising downwards an earlier toll after eight were found alive.
Published 31 Mar, 2015 12:00am
What is the real GDP growth rate?

What is the real GDP growth rate?

Why doesn't finance minister Ishaq Dar admit the fact that the Ministry of Planning, Development and Reform has revised downward the GDP growth rate of 2014-15 to 4.5 percent against the original target of 5.1 percent due to impediments in agriculture and
Published 31 Mar, 2015 12:00am
Spanish hospital conducts complex face transplant

Spanish hospital conducts complex face transplant

A Spanish hospital said Monday it has successfully carried out the world's most complex face transplant, reconstructing the lower face, neck, mouth, tongue and back of the throat of a man terribly disfigured by disease. A team of 45 physicians, nurses, an
Published 31 Mar, 2015 12:00am
Unlocking real estate for the masses

Unlocking real estate for the masses

Real estate is an important and a growing asset class especially in emerging economies. For general public (small savers), however, it is essentially inaccessible particularly in our part of the world where mortgage finance is virtually nonexistent. Real
Published 31 Mar, 2015 12:00am
Campaign kicks off for tight British election

Campaign kicks off for tight British election

British Prime Minister David Cameron warned voters they face a "stark choice" in May's tight general election as he kicked off campaigning Monday after a ceremonial visit to Queen Elizabeth II. Cameron met the 88-year-old head of state at Buckingham Palac
Published 31 Mar, 2015 12:00am
Once-bullish fund managers start to capitulate on oil prices

Once-bullish fund managers start to capitulate on oil prices

Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including construction company Primoris Services Corp and Eagle Materia
Published 31 Mar, 2015 12:00am
Prince William starts new job in the skies

Prince William starts new job in the skies

Britain's Prince William took up his new job as an air ambulance pilot on Monday, though he will only start flying rescue missions later this year, his office said. "The Duke of Cambridge has today started work as an employee of Bond Air Services," Kensin
Published 31 Mar, 2015 12:00am
Self-delusions galore

Self-delusions galore

Rarely do prime ministers congratulate their nations on a slight upgrade in credit rating of the country (in this case by Moody's) but our Prime Minister did so. Remember, how the optimism of credit rating agencies about prospects of the Asset Backed Secu
Published 31 Mar, 2015 12:00am
Solar Impulse lands in China after 22-hour flight from Myanmar

Solar Impulse lands in China after 22-hour flight from Myanmar

Solar Impulse 2 landed early Tuesday in China, the world's biggest carbon emitter, as it completed the fifth leg of its landmark circumnavigation of the globe powered solely by the sun. With pilot Bertrand Piccard at the controls, the revolutionary plane
Published 31 Mar, 2015 12:00am
Why party-less elections?

Why party-less elections?

Even less than two years on, the ruling PML (N) is opposed to party-based local bodies elections, lending credence to its perceived fears the outcome may go against it and giving an element of legitimacy to the charge that May-2013 general elections were
Published 31 Mar, 2015 12:00am
SBBWUP holds event on 23rd March: A Road Ahead

SBBWUP holds event on 23rd March: A Road Ahead

Shaheed Benazir Bhutto Women University Peshawar (SBBWUP) organised an event on "23rd March: A Road Ahead," at main campus here on Monday. The Vice Chancellor SBBWUP Dr Razia Sultana, Dr Ijaz Khan from Department of International Relations, University of
Published 31 Mar, 2015 12:00am
Lower exports

Lower exports

Commerce Minister Khurram Dastgir reportedly rejected the conclusions drawn by his own ministry with respect to the reasons behind a decline in exports. The Commerce Minister directed his team to seek exporters' views - the major stakeholders - while prep
Published 31 Mar, 2015 12:00am
KP PDWP approves three projects of ST&IT department

KP PDWP approves three projects of ST&IT department

The Provincial Development Working Party (PDWP) in its meeting approved three projects pertaining to ST&IT Department worth of Rs 404.988 million. The meeting was held under the Chairmanship of Dr Hammad Owais Agha, Additional Chief Secretary Khyber Pakht
Published 31 Mar, 2015 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 31 Mar, 2015 12:00am
Over 70 Pak exporters participating in Hong Kong APLF-2015

Over 70 Pak exporters participating in Hong Kong APLF-2015

As many as 70 Pakistani exporters are participating in Asia Pacific Leather Fair (APLF-2015) in Hong Kong to take maximum advantages by getting share of the Chinese markets to expand the trade volume with China/Hong Kong.
Published 31 Mar, 2015 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 31 Mar, 2015 12:00am
KP Police arrest 566 suspects under NAP

KP Police arrest 566 suspects under NAP

Khyber Pakhtunkhwa police rounded up 566 suspects and recovered huge cache of arms and ammunition in the ongoing search and strike operation being conducted under National Action Plan (NAP) in the province.
Published 31 Mar, 2015 12:00am
Euronext sticks by new wheat contract after stalled start

Euronext sticks by new wheat contract after stalled start

Euronext plans to drop its established wheat futures before the 2018 harvest in favour of a just-launched premium wheat contract, the exchange said on Tuesday, shrugging off an awkward start for the new product.
Published 31 Mar, 2015 12:00am
Anti-polio campaign begins in Peshawar

Anti-polio campaign begins in Peshawar

A three-day special campaign here on Monday started in provincial capital to vaccinate polio drops more than 1.204 million children below age of five under the fourth round of the Sehat-Ka-Ittehad Programme.
Published 31 Mar, 2015 12:00am
Shanghai copper little changed

Shanghai copper little changed

The most-traded June copper contract on the Shanghai Futures Exchange ended little changed at 43,830 yuan ($7,062) a tonne on Monday. The Shanghai Futures Exchange's (ShFE) new nickel contract fell 4 percent during its second day of trade, before ending d
Published 31 Mar, 2015 12:00am
Four killed in Chiniot road accident

Four killed in Chiniot road accident

As many as four people including two children died and four others injured in collision between two vehicles here on Monday. Rescue sources said that the accident took place at Lahore Road near Burjian Stop in Chiniot where an over speeding dumper rammed
Published 31 Mar, 2015 12:00am
Ample supply sends nickel to its lowest since 2009

Ample supply sends nickel to its lowest since 2009

Nickel hit its lowest price in nearly six years on Monday after faltering demand for stainless steel and worries that a new tax in Malaysia might push more metal onto the market dented sentiment. LME nickel dropped 1.8 percent to trade at $13,050 in offic
Published 31 Mar, 2015 12:00am
Oil down as Iran races for deadline on nuclear deal

Oil down as Iran races for deadline on nuclear deal

Oil prices fell for the second straight session on Monday as Iran and six world powers negotiated a deal for Tehran's nuclear program that could end Western sanctions, allowing the OPEC member to ship more crude into an already flooded market. The two sid
Published 31 Mar, 2015 12:00am
Rubber drops

Rubber drops

Benchmark Tokyo rubber futures dropped to a nearly three-week low on Monday as slumping oil prices and weaker Shanghai futures prompted fresh sell orders amid lingering concerns about slow demand in China, the world's top buyer, dealers said. The Tokyo Co
Published 31 Mar, 2015 12:00am
Water inflow in four rivers rises to 330,000 cusecs

Water inflow in four rivers rises to 330,000 cusecs

The water inflow in four live rivers has risen to 3,30, 000 cusecs after ongoing widespread rains in upcountry which have also delayed harvesting of Kharif crops and damaged ripe grams, lentils and tomato crops.
Published 31 Mar, 2015 12:00am