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Print - 2015-05-22
Dar asks top business executives to help government promote tax culture

Dar asks top business executives to help government promote tax culture

Finance Minister Senator Mohammad Ishaq Dar here Thursday met leaders of prominent business associations at FBR, exchanging views with them on proposals regarding budget 2015-16. The Minister while welcoming the participants said he wanted to emphasise th
Published 22 May, 2015 12:00am
Cotton hits four-week low, records 4th straight day of losses
Cotton

Cotton hits four-week low, records 4th straight day of losses

ICE cotton futures fell for the fourth straight day on Thursday, hitting a four-week low after failing to maintain session highs hit immediately following the release of the US government's weekly export sales report, which traders said was supportive. "W
Published 22 May, 2015 12:00am
Shanghai copper rises

Shanghai copper rises

The most traded July copper contract on the Shanghai Futures Exchange rose 0.4 percent to close at 45,120 yuan ($7,276) per tonne on Thursday after another soft Chinese manufacturing report suggested Beijing may have to do more to stimulate the world's No
Published 22 May, 2015 12:00am
Copper edges up, nickel still under pressure

Copper edges up, nickel still under pressure

Copper edged up on Thursday from the previous session's three-week low, helped by a weaker dollar and by hopes that a soft Chinese manufacturing reading will spur Beijing to do more to stimulate the world's No 2 economy. The metal was also supported by in
Published 22 May, 2015 12:00am
Oil gains over two percent on inventory draws, Iraq fighting

Oil gains over two percent on inventory draws, Iraq fighting

Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for US crude futures boosted optimism that a supply glut was easing. Fighting in Iraq that raised worrie
Published 22 May, 2015 12:00am
Rubber recovers

Rubber recovers

Benchmark Tokyo rubber futures rose on Thursday, recovering from the three-week low hit the previous day, as firmer crude oil prices and a weak yen caused investors to cover their short positions, dealers said. The Tokyo Commodity Exchange rubber contract
Published 22 May, 2015 12:00am
Soya at seven-month low, corn weakens

Soya at seven-month low, corn weakens

US soyabeans fell to seven-month lows and corn to one-week lows on Wednesday, pressured by forecasts for nearly ideal growing conditions for the crops next week. Temperatures were seen warming up by next week after a chill that supported prices earlier th
Published 22 May, 2015 12:00am
Palm oil up

Palm oil up

Malaysian palm oil futures ended higher on Thursday, recovering from the morning session and snapping four straight days of losses as weak prices attracted buying interest for the tropical oil. Weak overseas oil and soy markets had dragged the benchmark c
Published 22 May, 2015 12:00am
Arabica takes biggest fall since March

Arabica takes biggest fall since March

Arabica coffee futures on ICE sank more than 5 percent in heavy volume on Thursday, marking their biggest tumble in 2-1/2 months after an influential trade house raised its global production forecast and technical sell signals were triggered. Cocoa future
Published 22 May, 2015 12:00am
Gold extends gains in New York

Gold extends gains in New York

Gold rose on Wednesday, briefly climbing to a new session high as the dollar pared its gains after US Federal Reserve minutes showed policy makers believed it would be premature to raise interest rates in June. Many officials at the Fed's April policy mee
Published 22 May, 2015 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold held above $1,200 an ounce on Thursday as minutes from the Federal Reserve's policy meet showed the US central bank was unlikely to hike interest rates in June, in line with market expectations. Spot gold was steady at $1,209.60 an ounce by 0658 GMT,
Published 22 May, 2015 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Thursday as the dollar cut losses after US data showed economic momentum was improving, but the downside was limited by signs the Federal Reserve was unlikely to raise interest rates in June. The number of Americans filing new claims for unem
Published 22 May, 2015 12:00am
US MIDDAY: wheat jumps

US MIDDAY: wheat jumps

US wheat futures rose as much as 2 percent on Thursday, lifted by worries that US rains could reduce grain quality and that dry conditions in Russia and Canada would stress crops. Chicago Board of Trade corn futures gained about 1 percent, rising in sympa
Published 22 May, 2015 12:00am
US MIDDAY: gold edges lower

US MIDDAY: gold edges lower

Gold fell early on Thursday as the dollar cut losses on US data that showed growing economic momentum, but support came from signs the Federal Reserve was unlikely to raise interest rates in June. The number of Americans filing new claims for unemployment
Published 22 May, 2015 12:00am
A nuclear Iran

A nuclear Iran

This refers to Saida Fazal's "GCC states and their Iran problem" carried by the newspaper yesterday. The writer has argued, among things, that "Tehran is not going to attack any of these [GCC] countries. But it supports anti-status quo forces, such as Hez
Published 22 May, 2015 12:00am
SBP, MoF must get their claws into business
Currency

SBP, MoF must get their claws into business

No matter how it is happening, but it is a fact that on paper economic performance has shown improvement. When the economy is meeting numbers in tough conditions, it is difficult to criticise the economic mismatches or weak fiscal policies. Despite energy
Published 22 May, 2015 12:00am
Are boat migrants a terrorism threat? Arrest rekindles Italy debate

Are boat migrants a terrorism threat? Arrest rekindles Italy debate

The arrest of a presumed terrorist who arrived as a boat migrant is fuelling a public debate in Italy about what security risk arrivals from North Africa might pose. Looming local elections are not helping to keep the conversation calm. Rome (dpa) - In It
Published 22 May, 2015 12:00am
Tax proposals for Budget 2015-16 - VII: Need for an NTA

Tax proposals for Budget 2015-16 - VII: Need for an NTA

The government of Pakistan Muslim League (Nawaz), under the third-time elected Prime Minister Mian Muhammad Nawaz Sharif, will announce its third annual budget for the fiscal year 2015-16 on June 5, 2015. According to Finance Minister, Senator Ishaq Dar,
Published 22 May, 2015 12:00am
JIT report on Model Town firing

JIT report on Model Town firing

A joint investigation team (JIT) formed by the Punjab government last November to hold an inquiry into the Model Town police firing incident at the Pakistan Awami Tehreek (PAT) headquarters has released its report. Eleven PAT workers were killed and 60 ot
Published 22 May, 2015 12:00am
Space available warrants no meagre rate cut

Space available warrants no meagre rate cut

State Bank of Pakistan (SBP) will announce its monetary policy stance for the next two months tomorrow. SBP took an easy stance last time. In all likelihood this stance is likely to persist. However, SBP's new policy rate is likely to give answer to some
Published 22 May, 2015 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 19, 2015.

Published 22 May, 2015 12:00am
International cricket revives as first T20 begins

International cricket revives as first T20 begins

Cricket fans are upbeat, as the first Twenty20 of the two-match series between Pakistan and Zimbabwe set to be staged at the Gaddafi Stadium here on Friday (today) ending the six years jinx of international cricket in the country, which was on hold after
Published 22 May, 2015 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 19, 2015.

Published 22 May, 2015 12:00am
International cricket revives as first T20 begins

International cricket revives as first T20 begins

Cricket fans are upbeat, as the first Twenty20 of the two-match series between Pakistan and Zimbabwe set to be staged at the Gaddafi Stadium here on Friday (today) ending the six years jinx of international cricket in the country, which was on hold after
Published 22 May, 2015 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 19, 2015.

Published 22 May, 2015 12:00am
Israel rules out any payment to Iran

Israel rules out any payment to Iran

After a Swiss court reportedly ordered an Israeli oil firm to compensate Iran over a scrapped joint venture, Israel said Thursday that its laws prohibited any payment to "the enemy." Iranian state news agency IRNA said Wednesday that the court had found I
Published 22 May, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (May 21, 2015) and the forecast for Friday (May 22, 2015).

Published 22 May, 2015 12:00am
Israel rules out any payment to Iran

Israel rules out any payment to Iran

After a Swiss court reportedly ordered an Israeli oil firm to compensate Iran over a scrapped joint venture, Israel said Thursday that its laws prohibited any payment to "the enemy." Iranian state news agency IRNA said Wednesday that the court had found I
Published 22 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 22 May, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 22 May, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (May 21, 2015)

Published 22 May, 2015 12:00am
Sohail Sial made Sindh Home Minister

Sohail Sial made Sindh Home Minister

Leader of Pakistan Peoples' Party (PPP) Sohail Anwar Sial has been appointed as Sindh Home Minister. He will also hold the portfolio of Jails. Meanwhile, advisor to Chief Minister (CM) Murtaza Wahab has also been made a provincial minister.
Published 22 May, 2015 12:00am
Sohail Sial made Sindh Home Minister

Sohail Sial made Sindh Home Minister

Leader of Pakistan Peoples' Party (PPP) Sohail Anwar Sial has been appointed as Sindh Home Minister. He will also hold the portfolio of Jails. Meanwhile, advisor to Chief Minister (CM) Murtaza Wahab has also been made a provincial minister.
Published 22 May, 2015 12:00am
Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Japan''s Prime Minister Shinzo Abe announced Thursday a $110 billion investment plan for infrastructure projects in Asia in an apparent counter to China''s move to launch a new development bank. Abe said in a speech in Tokyo that Japan and the Asian Devel
Published 22 May, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Japan's Prime Minister Shinzo Abe announced Thursday a $110 billion investment plan for infrastructure projects in Asia in an apparent counter to China's move to launch a new development bank. Abe said in a speech in Tokyo that Japan and the Asian Develop
Published 22 May, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Asian infrastructure: Japan Prime Minister unveils $110 billion plan

Japan's Prime Minister Shinzo Abe announced Thursday a $110 billion investment plan for infrastructure projects in Asia in an apparent counter to China's move to launch a new development bank. Abe said in a speech in Tokyo that Japan and the Asian Develop
Published 22 May, 2015 12:00am
Prime Minister likely to attend global moot on water

Prime Minister likely to attend global moot on water

Prime Minister Nawaz Sharif is likely to attend a high-level international conference on the implementation of the international decade for action "water for life" 2005-2015 which will take place on June 9-11 in Dushanbe, Tajikistan. The main goal of the
Published 22 May, 2015 12:00am
Prime Minister likely to attend global moot on water

Prime Minister likely to attend global moot on water

Prime Minister Nawaz Sharif is likely to attend a high-level international conference on the implementation of the international decade for action "water for life" 2005-2015 which will take place on June 9-11 in Dushanbe, Tajikistan. The main goal of the
Published 22 May, 2015 12:00am
THE RUPEE: all-round declines
Currency

THE RUPEE: all-round declines

The rupee fell modestly against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed three-paisa versus the dollar for buying and selling at Rs 101.93 and Rs 101.95 respectively, they said.
Published 22 May, 2015 12:00am
Prime Minister likely to attend global moot on water

Prime Minister likely to attend global moot on water

Prime Minister Nawaz Sharif is likely to attend a high-level international conference on the implementation of the international decade for action "water for life" 2005-2015 which will take place on June 9-11 in Dushanbe, Tajikistan. The main goal of the
Published 22 May, 2015 12:00am
THE RUPEE: all-round declines
Currency

THE RUPEE: all-round declines

The rupee fell modestly against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed three-paisa versus the dollar for buying and selling at Rs 101.93 and Rs 101.95 respectively, they said.
Published 22 May, 2015 12:00am
TDAP defying commerce ministry

TDAP defying commerce ministry

Trade Development Authority of Pakistan (TDAP) is reportedly defying the Commerce Ministry with respect to implementation of different orders, including the release of rebate announced in the federal budget 2014-15, well-informed sources told Business
Published 22 May, 2015 12:00am
TDAP defying commerce ministry

TDAP defying commerce ministry

Trade Development Authority of Pakistan (TDAP) is reportedly defying the Commerce Ministry with respect to implementation of different orders, including the release of rebate announced in the federal budget 2014-15, well-informed sources told Business
Published 22 May, 2015 12:00am
TDAP defying commerce ministry

TDAP defying commerce ministry

Trade Development Authority of Pakistan (TDAP) is reportedly defying the Commerce Ministry with respect to implementation of different orders, including the release of rebate announced in the federal budget 2014-15, well-informed sources told Business
Published 22 May, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (May 21, 2015).

Published 22 May, 2015 12:00am
LSE index gains 7.32 points

LSE index gains 7.32 points

Sluggish trading continued for the second consecutive day on the Lahore Stock Exchange on Thursday and the equities suffered declines amid a considerably low trading activity. The LSE-25 index gained 7.32 points to close at 5465.54 against 5458.22 of Wedn
Published 22 May, 2015 12:00am
LSE index gains 7.32 points

LSE index gains 7.32 points

Sluggish trading continued for the second consecutive day on the Lahore Stock Exchange on Thursday and the equities suffered declines amid a considerably low trading activity. The LSE-25 index gained 7.32 points to close at 5465.54 against 5458.22 of Wedn
Published 22 May, 2015 12:00am
ISE index down by 1.87 points

ISE index down by 1.87 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 1.87 points as the ISE Ten Index moved from 3,628.51 to 3,626.64 p
Published 22 May, 2015 12:00am
ISE index down by 1.87 points

ISE index down by 1.87 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 1.87 points as the ISE Ten Index moved from 3,628.51 to 3,626.64 p
Published 22 May, 2015 12:00am
Macedonian Prime Minister plane makes emergency landing in Zurich

Macedonian Prime Minister plane makes emergency landing in Zurich

A jet carrying Macedonian Prime Minister Nikola Gruevski made an emergency landing in Zurich on Thursday due to technical problems but no one was hurt in the incident, a spokesman said. "The (technical) failure manifested as a strong noise, from an unknow
Published 22 May, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 May, 2015 12:00am
Water crisis: MQM to hold protests from today

Water crisis: MQM to hold protests from today

Member of Co-ordination Committee Syed Haider Abbas Rizvi has said that MQM will organise peaceful public protests against the artificial scarcity of water in Sindh especially in Karachi from Friday (today) to bring the attentions of the provincial govern
Published 22 May, 2015 12:00am
Quddoos Bezinjo takes oath as Acting Governor Balochistan

Quddoos Bezinjo takes oath as Acting Governor Balochistan

Deputy Speaker Balochistan, Mir Abdul Quddoos Bezinjo was sworn in as Acting Governor Balochistan, here on Thursday. An oath taking ceremony was held at Governor House where Chief Justice Balochistan High Court, Muhammad Noor Meskanzai administered the oa
Published 22 May, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 May, 2015 12:00am
Balochistan government to bring no trust motion against Speaker

Balochistan government to bring no trust motion against Speaker

The coalition Balochistan government has decided to move no confidence motion against Speaker Balochistan Assembly, Mir Jan Muhammad Khan Jamali to remove him from his office. This was announced by Provincial Information Minister, Abdul Raheem Ziaratwal a
Published 22 May, 2015 12:00am
Air strikes kill 15 militants in Shawal valley

Air strikes kill 15 militants in Shawal valley

Air strikes killed at least 15 suspected militants in north-western Shawal Valley on Thursday, intelligence officials said, a week after security forces moved in on Taliban strongholds there. The deeply forested ravines of the valley are a key smuggling r
Published 22 May, 2015 12:00am
Security threats: traditional response mechanisms not relevant: CoAS

Security threats: traditional response mechanisms not relevant: CoAS

Chief of Army Staff (CoAS), General Raheel Sharif said on Thursday that note worthy achievements in operation Zarb-e-Azb have created a space for a decisive surge against terrorists in urban areas and environment is getting ripe for political optimisation
Published 22 May, 2015 12:00am
Security threats: traditional response mechanisms not relevant: CoAS

Security threats: traditional response mechanisms not relevant: CoAS

Chief of Army Staff (CoAS), General Raheel Sharif said on Thursday that note worthy achievements in operation Zarb-e-Azb have created a space for a decisive surge against terrorists in urban areas and environment is getting ripe for political optimisation
Published 22 May, 2015 12:00am
BRIndex30 up 21.92 points

BRIndex30 up 21.92 points

On Thursday, BRIndex30 opened at 19,125.44 points. It touched an intraday high of 19,213.81 points and an intraday low of 19,116.89 points and closed at 19,147.36 points which was 21.92 points or 0.11 percent higher than previous close. Total volume was 4
Published 22 May, 2015 12:00am
BRIndex30 up 21.92 points

BRIndex30 up 21.92 points

On Thursday, BRIndex30 opened at 19,125.44 points. It touched an intraday high of 19,213.81 points and an intraday low of 19,116.89 points and closed at 19,147.36 points which was 21.92 points or 0.11 percent higher than previous close. Total volume was 4
Published 22 May, 2015 12:00am
Stocks inch up

Stocks inch up

Amid dull volume, the Karachi share market managed to settle in the green zone Thursday with KSE-100 index gaining 18.74 points to close at 32,617.74. "Stocks showed recovery amid speculations ahead of monetary policy announcements on May 23 led by levera
Published 22 May, 2015 12:00am
Stocks inch up

Stocks inch up

Amid dull volume, the Karachi share market managed to settle in the green zone Thursday with KSE-100 index gaining 18.74 points to close at 32,617.74. "Stocks showed recovery amid speculations ahead of monetary policy announcements on May 23 led by levera
Published 22 May, 2015 12:00am
Stocks inch up

Stocks inch up

Amid dull volume, the Karachi share market managed to settle in the green zone Thursday with KSE-100 index gaining 18.74 points to close at 32,617.74. "Stocks showed recovery amid speculations ahead of monetary policy announcements on May 23 led by levera
Published 22 May, 2015 12:00am
Record gap between rich and poor: OECD

Record gap between rich and poor: OECD

The gap between the rich and poor in most of the world''s advanced economies is at record levels, according to an OECD study that also found glaring differences between men and women. In most of the 34 countries in the Organisation for Economic Co-operati
Published 22 May, 2015 12:00am
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