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Print - 2015-05-28
Two Hazaras killed in Quetta

Two Hazaras killed in Quetta

Unidentified gunmen on Wednesday killed two shopkeepers from Hazara community when they opened fire in a congested market here, the second such attack in a week. Police said two other Shia shopkeepers and a passer-by were wounded in the attack. "The attac
Published 28 May, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 May, 2015 12:00am
Oil down about three percent again on dollar, awaits supply data

Oil down about three percent again on dollar, awaits supply data

Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market ahead of US inventory data. Gasoline and heating oil fell more than 2 percent each, extending the slide across the fuels complex, on bets
Published 28 May, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 May, 2015 12:00am
US MIDDAY: gold steadies

US MIDDAY: gold steadies

Gold was steady after initially falling to a two-week low early on Wednesday, as the dollar retreated from a one-month high, but the precious metal remained under pressure from expectations that a US rate increase may come soon. Spot gold was up 0.1 perce
Published 28 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 27, 2015).

Published 28 May, 2015 12:00am
US MIDDAY: wheat sinks

US MIDDAY: wheat sinks

US wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and after a government report pegged US winter wheat crop ratings above market expectations. Corn also slumped to a seven-month low on spillov
Published 28 May, 2015 12:00am
The Weather

The Weather

The weather report on Wednesday (May 27, 2015) and the forecast for Thursday (May 28, 2015).

Published 28 May, 2015 12:00am
Gold little changed in European trade

Gold little changed in European trade

Gold steadied on Wednesday off the previous day's two-week low as the dollar retreated after its biggest daily rise in two years, but remained under pressure from expectations that a US rate increase may come soon. Gold fell 1.7 percent on Tuesday, its bi
Published 28 May, 2015 12:00am
Gold holds low in Asia

Gold holds low in Asia

Gold held near a two-week trough on Wednesday after sliding almost 2 percent in the previous session as upbeat US economic data strengthened expectation that the Federal Reserve may be on course to raise interest rates this year. Spot gold was up 0.3 perc
Published 28 May, 2015 12:00am
Gold drops in New York

Gold drops in New York

Gold dipped almost 2 percent on Tuesday as the dollar extended gains following a raft of strong US data and recent comments from Federal Reserve Chair Janet Yellen that reinforced the central bank's tightening bias on monetary policy. Spot gold dropped to
Published 28 May, 2015 12:00am
Raw sugar at 2009 low on Brazil's weak real
Currency

Raw sugar at 2009 low on Brazil's weak real

Raw sugar futures extended losses to the lowest level in more than six years on Wednesday, pressured by the weak currency in top grower Brazil that added to the bearish mood of a market already struggling to cope with huge and still-rising stocks. Arabica
Published 28 May, 2015 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures ended lower on Wednesday as the contract succumbed to selling pressure in late afternoon trade, reversing gains stemming from a weak ringgit which had lifted the tropcial oil to a near two-week high. Benchmark prices have pulled
Published 28 May, 2015 12:00am
Wheat plunges

Wheat plunges

US wheat futures plunged more than 4 percent on Tuesday as pressure from a strong dollar and technical selling outweighed concerns about crop damage due to heavy rain in the southern Plains. Corn prices slid about 1.5 percent on spillover weakness from tu
Published 28 May, 2015 12:00am
Rubber extends gains

Rubber extends gains

Benchmark Tokyo rubber futures extended gains to a fresh 14-month high on Wednesday, backed by a softer yen and as Shanghai futures sustained upward momentum, dealers said. The Tokyo Commodity Exchange rubber contract for November delivery rose 3 yen, or
Published 28 May, 2015 12:00am
Copper hits month low on China

Copper hits month low on China

Copper hit a one-month low on Wednesday due to concerns about the economic outlook for big metals consumer China, while aluminium fell to its lowest in a year on rising production. Aluminium is in oversupply with a huge stock overhang, and output has cont
Published 28 May, 2015 12:00am
Shanghai copper falls

Shanghai copper falls

The most traded August copper contract on the Shanghai Futures Exchange fell 1 percent to 44,420 yuan ($7,160) a tonne. It faced strong resistance at the 200-day moving average of 44,500 yuan on Wednesday. Copper is getting little help from the lacklustre
Published 28 May, 2015 12:00am
Cotton hits one-month low as index fund roll period looms
Cotton

Cotton hits one-month low as index fund roll period looms

ICE cotton futures fell to their lowest levels in more than a month on Wednesday, as index funds prepared to roll long positions forward from the July to the December contract, resulting in limited buying interest despite delayed plantings. "We're running
Published 28 May, 2015 12:00am
Open disdain for due process

Open disdain for due process

Many project establishments, privatisation endeavours and promotions of bureaucrats have been reversed/annulled/cancelled by courts simply because the government of the day chose to ignore following the laid down procedures. This has led to shying away of
Published 28 May, 2015 12:00am
Is terrorism Modi's weapon of choice?

Is terrorism Modi's weapon of choice?

That India uses terrorism as weapon of choice to destabilise Pakistan is a fact that has been admitted by no less a person than its defence minister, Manohar Parrikar. And New Delhi is in boil over his confirmation, not because he has exposed true face of
Published 28 May, 2015 12:00am
VIEW POINT: Misuse of power

VIEW POINT: Misuse of power

Versions vary of what ignited the incident in Daska that left two lawyers - one of them president of the local bar association - dead and a bystander seriously wounded. According to media reports, the trouble started on Monday when, following an altercati
Published 28 May, 2015 12:00am
Adjudication and the process of adjudication

Adjudication and the process of adjudication

By adjudication we mean a legal process of resolving disputes. Through adjudication the law empowers authorities, to pronounce judgements or pass orders thereby affecting the rights of people; for example, many administrative actions which affect an indiv
Published 28 May, 2015 12:00am
May's market tremors could reflect fear of 'groupthink'

May's market tremors could reflect fear of 'groupthink'

For anyone expecting interest rates to be stuck near zero for years to come, the past month has been uncomfortable. The so-called "new normal" or "secular stagnation" theses that posit years of paltry world growth, lingering economic slack and downward pr
Published 28 May, 2015 12:00am
Non-duty paid cigarettes

Non-duty paid cigarettes

Apropos a news item 'Non-duty paid cigarettes: most of manufacturers operating in KPK' carried by Business Recorder on 26th May, seems to be a "gross distortion" of facts. It looks as if a powerful lobby of foreign origins in the tobacco multinatio
Published 28 May, 2015 12:00am
Missing persons: SHC issues notices

Missing persons: SHC issues notices

The Sindh High Court on Wednesday issued notice to the interior secretary, provincial home secretary, Director General of Rangers, IG Sindh and other respondents to file comments on petitions against unlawful confinement of citizens by the law enforcers.
Published 28 May, 2015 12:00am
54 illegal immigrants held

54 illegal immigrants held

Pakistan Coastguards arrested 54 illegal immigrants under Foreign Act from Gwadar on Wednesday. Local Levies sources said that the arrested people were illegally travelling to Iran by sea route and were arrested for having no travelling document.
Published 28 May, 2015 12:00am
Rs 215 billion budgetary measures: FBR officials to brief PM today

Rs 215 billion budgetary measures: FBR officials to brief PM today

The Federal Board of Revenue (FBR) will brief Prime Minister Nawaz Sharif here on Thursday (May 28) on estimated Rs 215 billion budgetary measures for 2015-16. It is learnt that the FBR team headed by FBR Chairman Tariq Bajwa will give a budget presentati
Published 28 May, 2015 12:00am
LB elections: Electioneering reaches climax in KP

LB elections: Electioneering reaches climax in KP

Electioneering for local bodies' polls scheduled Saturday (May 30) reached to climax in Khyber Pakhtunkhwa as polling is only two days are ahead. All political parties are running vigorous campaign staging demos and public meetings to attract electorates.
Published 28 May, 2015 12:00am
Imran steps up criticism of 'Nawaz-Zardari alliance'

Imran steps up criticism of 'Nawaz-Zardari alliance'

Chairman of Pakistan Tehreek-i-Insaf (PTI) Imran Khan on Wednesday said that fearing his tsunami Nawaz Sharif and Asif Ali Zardari have unified. Imran Khan addressed back-to-back rallies in Naushera, Mardan and Peshawar, where he said that the Khyber Pakh
Published 28 May, 2015 12:00am
'Might is right' prevails in Punjab: Wattoo

'Might is right' prevails in Punjab: Wattoo

Pakistan Peoples' Party President in the Punjab Manzoor Wattoo has claimed that the Punjab is being driven on the principle of "might is right". In his speech to lawyers after praying for the dead in Daska, he said, "The country is in the grip of fear bec
Published 28 May, 2015 12:00am
Acceptance of demands: KBP to hold demonstrations in Punjab
Cotton

Acceptance of demands: KBP to hold demonstrations in Punjab

The Kisan Board Pakistan has announced to hold demonstrations in every district headquarter of the Punjab to press the government for acceptance of demands. The board has also cancelled a rally scheduled for May 31 in Lahore, warning, "Now a protest movem
Published 28 May, 2015 12:00am
Fata and KPK: 85,000 metric tons of wheat approved for TDPs

Fata and KPK: 85,000 metric tons of wheat approved for TDPs

Finance Minister, Senator Mohammad Ishaq Dar on a proposal from the Ministry of States and Frontier Regions, here on Wednesday accorded anticipatory approval for immediate release of 85000 metric tons of wheat for the TDPs of FATA and KP, covering the per
Published 28 May, 2015 12:00am
'Fraud Awareness & Prevention' USAID, ti Pakistan organise seminar

'Fraud Awareness & Prevention' USAID, ti Pakistan organise seminar

A seminar on Fraud Awareness & Prevention was organized by United State Agency for International Development (USAID) in collaboration with Transparency International Pakistan at a local hotel. DG NAB (K) was invited as Chief Guest of the event. Besides, N
Published 28 May, 2015 12:00am
Punjab chief minister reviews targets of 2015-16 ADP

Punjab chief minister reviews targets of 2015-16 ADP

Punjab Chief Minister Shahbaz Sharif presided over a high-level meeting here on Wednesday which reviewed the targets of Annual Development Programme (ADP) 2015-16. Addressing the meeting, the Chief Minister said that special attention will be paid to the
Published 28 May, 2015 12:00am
Punjab chief minister reviews targets of 2015-16 ADP

Punjab chief minister reviews targets of 2015-16 ADP

Punjab Chief Minister Shahbaz Sharif presided over a high-level meeting here on Wednesday which reviewed the targets of Annual Development Programme (ADP) 2015-16. Addressing the meeting, the Chief Minister said that special attention will be paid to the
Published 28 May, 2015 12:00am
'NAP has broken the back of terrorists'

'NAP has broken the back of terrorists'

Speaker Punjab Assembly Rana Muhammad Iqbal speaking in a conference 'Peaceful Pakistan' here Wednesday said that' National Action Plan' has broken the back of terrorists in the country. He said that day is not far when Pakistan would be recognized as a p
Published 28 May, 2015 12:00am
KU awards 19 PhD & four M Phil degrees

KU awards 19 PhD & four M Phil degrees

Karachi University's board of advance studies and research (BASR) has awarded 19 PhD and four M Phil degrees in different disciplines. According to Karachi University's registrar Professor Dr Mozzam Ali Khan, the decision of awarding the degrees was taken
Published 28 May, 2015 12:00am
Daska incident: SHO Shehzad sent to physical remand

Daska incident: SHO Shehzad sent to physical remand

Special court of Gujranwala division's anti-terrorism court (ATC) on Wednesday sent Inspector Shehzad Warraich on 12-day physical remand on the charges of killing two lawyers in Daska. Joint Investigation Team's (JIT's) inspector Muhammad Qasim produced t
Published 28 May, 2015 12:00am
LCCI, EXIM USA join hands to facilitate importers, exporters

LCCI, EXIM USA join hands to facilitate importers, exporters

The Lahore Chamber of Commerce and Industry and Export-Import Bank of the United States (EXIM) will work together to ensure an integrated approach to facilitate the importers and exporters in Pakistan. This was agreed in a meeting between the Vice Preside
Published 28 May, 2015 12:00am
Youm-e-Takbeer today

Youm-e-Takbeer today

Youm-e-Takbeer, the celebration of Pakistan's nuclear explosions in 1998, is being marked today nationwide. Organisations will stage rallies, processions and demonstrations to pay tributes to Dr Abdul Qadir Khan and Prime Minister Nawaz Sharif. On May 28,
Published 28 May, 2015 12:00am
Contempt of court case: IGP Sindh, other officials' indictment today

Contempt of court case: IGP Sindh, other officials' indictment today

Sindh High Court on Wednesday issued detailed written decision in contempt of court proceedings against IG Sindh Police and other officials in the incident of manhandling of newsmen in the court premises on May 23. Charges will be framed against IG Police
Published 28 May, 2015 12:00am
Khalid Soomro's murder Prime suspect arrested

Khalid Soomro's murder Prime suspect arrested

Sukkur police have arrested the prime suspect in the assassination of secretary general of Jamiat Ulema-i-Islam-Fazl Sindh Dr Khalid Mahmood Soomro. Talking to the media here on Tuesday night, SSP Sukkur Tanveer Hussain Tunio confirmed the arrest of the s
Published 28 May, 2015 12:00am
Three suspects jailed for 40 years

Three suspects jailed for 40 years

Anti-terrorism court (ATC) on Wednesday sentenced life imprisonment to as many as three suspects, involved in cracker attack on police mobile in 2013. The criminals Riaz, Abdul Sattar and Adbul Shakoor were sentenced to at least 40 years imprisonment whil
Published 28 May, 2015 12:00am
Budget fiscal year 2016: Rs 7.6 billion proposed for Interior Ministry

Budget fiscal year 2016: Rs 7.6 billion proposed for Interior Ministry

The government has proposed Rs 7.6 billion for 104 projects for Ministry of Interior for the next financial year (2015-16) under the federal Public Sector Development Programme (PSDP) against the demand of Rs 19.998 billion for 256 projects. According to
Published 28 May, 2015 12:00am
Pakistan condemns Afghanistan terrorist attack

Pakistan condemns Afghanistan terrorist attack

Pakistan has strongly condemned the recent terrorist attack that took place at Nawzad district in Helmand province, resulting in death of 26 soldiers. "Such acts are unjustifiable and cannot be tolerated. Terrorism is our common enemy. Comprehensive and c
Published 28 May, 2015 12:00am
Secretariat employees demand raise in salaries

Secretariat employees demand raise in salaries

Government employees working in Pak Secretariat on Wednesday staged protest demonstration demanding raise in their salaries, like other government departments, in the upcoming budget. They staged a sit-in in front of the main gate of Pak Secretariat and l
Published 28 May, 2015 12:00am
Musharraf invites Mustafa Kamal to join APML

Musharraf invites Mustafa Kamal to join APML

Former President General Pervez Musharraf (Retd) is looking at erstwhile city nazim (mayor) Karachi Mustafa Kamal as his new lieutenant as he telephoned him and invited to join the APML. Sources have confirmed that the ex president has formally invited fo
Published 28 May, 2015 12:00am
Government proposes Rs 40 billion for Railways in budget

Government proposes Rs 40 billion for Railways in budget

The government has proposed Rs 40 billion for Pakistan Railways (PR) in budget for 2015-16 against its demand of Rs 45 billion, according to documents available with this correspondent. The Railway Ministry had requested Rs 39 billion for ongoing and Rs 6
Published 28 May, 2015 12:00am
OIC for peaceful resolution of Kashmir dispute

OIC for peaceful resolution of Kashmir dispute

The OIC Secretary General Iyad Ameen Madani, in his opening statement at the 42nd Session of the OIC Council of Foreign Ministers (CFM), in Kuwait on Wednesday made special reference to the need for a peaceful resolution of the Kashmir dispute, adding tha
Published 28 May, 2015 12:00am
PTI achieves significant improvement in governance

PTI achieves significant improvement in governance

Pakistan Tehreek-e-Insaf (PTI) has made a significant improvement in governance in Khyber Pakhtunkhwa compared to other provinces to streamline the centuries' old corrupt Patwari system, an anecdotal survey carried out by Business Recorder revealed
Published 28 May, 2015 12:00am
Confectioners recommend five percent RD on sugar import

Confectioners recommend five percent RD on sugar import

The biscuit and confectionery industry has urged the government to reduce regulatory duty on sugar import. Pakistan Biscuit & Confectionery Manufacturers Association has recommended a maximum of 5 percent regulatory duty on sugar import instead of 20 perc
Published 28 May, 2015 12:00am
Confectioners recommend five percent RD on sugar import

Confectioners recommend five percent RD on sugar import

The biscuit and confectionery industry has urged the government to reduce regulatory duty on sugar import. Pakistan Biscuit & Confectionery Manufacturers Association has recommended a maximum of 5 percent regulatory duty on sugar import instead of 20 perc
Published 28 May, 2015 12:00am
'Changes in LNG policy may help country reduce energy crisis'

'Changes in LNG policy may help country reduce energy crisis'

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain said here on Wednesday that the government could help in lessening the severity of energy crisis by making some changes in its LNG policy. Talking to a delegation of transp
Published 28 May, 2015 12:00am
'Changes in LNG policy may help country reduce energy crisis'

'Changes in LNG policy may help country reduce energy crisis'

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain said here on Wednesday that the government could help in lessening the severity of energy crisis by making some changes in its LNG policy. Talking to a delegation of transp
Published 28 May, 2015 12:00am
Land of railways: process of regaining title begins

Land of railways: process of regaining title begins

Pakistan Railways has started the process of regaining the title of its land and Khyber Pakhtunkhwa province has transferred the claimed land to Railways. Regarding the tussle between the railways and provinces pertaining to encroachment on lands, the Sup
Published 28 May, 2015 12:00am
Afghan Deputy Foreign Minister calls on Fatemi

Afghan Deputy Foreign Minister calls on Fatemi

Afghan Deputy Foreign Minister, Hekmat Khalil Karzai, called on Syed Tariq Fatemi, Special Assistant to Prime Minister on Foreign Affairs, here on Wednesday. Fatemi expressed satisfaction that the two sides were constructively engaged in improving bilater
Published 28 May, 2015 12:00am
PML-Q for grand alliance against Sindh government

PML-Q for grand alliance against Sindh government

President PML-Q Sindh, Haleem Adil Shaikh has urged all parties to make grand alliance to pressurise the Sindh government for establishing good governance in the province. Addressing a press conference at Hyderabad Press Club on Wednesday, he said that th
Published 28 May, 2015 12:00am
Policing powers: Balochistan FC given 3-month extension

Policing powers: Balochistan FC given 3-month extension

Balochistan government has extended the policing powers of Frontier Corps for the next three months. Home department sources revealed that Balochistan Chief Minister Dr Abdul Malik Baloch approved the extension in policing powers given to FC-which were se
Published 28 May, 2015 12:00am
Eight alleged terrorists held in Lasbela

Eight alleged terrorists held in Lasbela

The FC in a search operation in Lasbela arrested eight terrorists after exchange of fire on Wednesday. According to details, the search operation was launched by the FC on intelligence reports that some terrorists were hiding in the area. When the FC team
Published 28 May, 2015 12:00am
Budget 2015-16 government focus must be on fiscal consolidation: IMF

Budget 2015-16 government focus must be on fiscal consolidation: IMF

Dubbing Saturday's monetary easing by the central bank as a good move for making available credit for the growth-obsessed country's private sector, the International Monetary Fund (IMF) has advised the government to focus more in Budget 2015-16 on fiscal
Published 28 May, 2015 12:00am
Budget 2015-16 government focus must be on fiscal consolidation: IMF

Budget 2015-16 government focus must be on fiscal consolidation: IMF

Dubbing Saturday's monetary easing by the central bank as a good move for making available credit for the growth-obsessed country's private sector, the International Monetary Fund (IMF) has advised the government to focus more in Budget 2015-16 on fiscal
Published 28 May, 2015 12:00am
About 595,146 arms licences cancelled by Sindh chief minister

About 595,146 arms licences cancelled by Sindh chief minister

Sindh Chief Minister Syed Qaim Ali Shah taking policy decision in the cabinet meeting has cancelled 595,146 arms licences because the licensees failed to verify it from the offices concerned. This decision, he took, while presiding over the cabinet meetin
Published 28 May, 2015 12:00am
Manawan Attack: LHC dismisses appeal of convict

Manawan Attack: LHC dismisses appeal of convict

A division bench of the Lahore High Court on Wednesday dismissed an appeal by Hijratullah against his conviction in the Manawan Police Training School attack. An anti-terror court had given Hijratullah a 10-year rigorous imprisonment for attempting to des
Published 28 May, 2015 12:00am
CII for new amended computerized Nikkah form

CII for new amended computerized Nikkah form

Chairman Council of Islamic Idealogy (CII) Maulana Muhammad Khan Sheerani on Wednesday said council recommended new amended computerized Nikkah form for facilitating masses. Addressing a press conference after the 199th meeting of Council of Islamic Ideal
Published 28 May, 2015 12:00am
GIDC imposition Uniform rate applied on old, new fertilizer plants

GIDC imposition Uniform rate applied on old, new fertilizer plants

The recently passed "Gas Infrastructure Development Cess Bill, 2014" by the National Assembly has specifically applied a uniform rate on old and new fertilizer plants in view of a ruling issued by the Competition Commission of Pakistan (CCP).
Published 28 May, 2015 12:00am
Edible oil sector: FBR urged to investigate tax evasion

Edible oil sector: FBR urged to investigate tax evasion

The Federal Board of Revenue (FBR) needs to investigate tax evasion by edible oil sector involved in production of ghee/cooking oil from edible oil both imported, locally produced after extraction from imported oil seeds and indigenous oils seeds. Tax exp
Published 28 May, 2015 12:00am
Daska killings: protest enters third day

Daska killings: protest enters third day

The legal fraternity carried on with protesting on Wednesday on the third day of the Daska shooting. Lawyers wearing black armbands appeared in courts to condemn the incident and also hoisted black flags on bar premises and staged demonstrations on roads,
Published 28 May, 2015 12:00am
PBC condemns killings

PBC condemns killings

Chaudhary Abdus Salam Advocate, Chairman Executive Committee, Punjab Bar Council (PBC) has condemned tragedy of Daska and said that such horrified incidents are deep rooted conspiracy against the lawyers' community. Talking to newsmen, he said that state
Published 28 May, 2015 12:00am
Multan lawyers boycott courts

Multan lawyers boycott courts

Legal fraternity on Wednesday burnt the effigy of the police officer who allegedly killed the Daska Bar President and staged a demonstration at Chowk Kutchery under the leadership of Mehmood Ashraf Khan President and Khalid Masud Ghani General Secretary o
Published 28 May, 2015 12:00am
US CG, Exim Bank VP visit PBIT

US CG, Exim Bank VP visit PBIT

An American four-member delegation including Global Business Development EXIM Bank President Raymond J Ellis Vice accompanied by American Consul General Zachary Harkenrider, Commercial Counsellor Cheryl J Dukelow and Senior Commercial Specialist Aftab Qam
Published 28 May, 2015 12:00am
KASB-BankIslami amalgamation: SBP governor explains reasons

KASB-BankIslami amalgamation: SBP governor explains reasons

Senate Standing Committee on Finance has decided to conduct a thorough probe into KASB Bank transactions and directed State Bank of Pakistan (SBP) to provide record of all the communication from moratorium onward up till merger of banks.
Published 28 May, 2015 12:00am
Pakistan, Canada discuss ways to expand trade ties

Pakistan, Canada discuss ways to expand trade ties

Pakistan and Canada Wednesday reviewed the ways and means for expanding bilateral relations, strengthening economic, trade and investment cooperation between the two countries. The third round of Pakistan-Canada Bilateral Consultations was held at the Min
Published 28 May, 2015 12:00am
PTV producer Farkhanda Shamim awarded gold medal

PTV producer Farkhanda Shamim awarded gold medal

Idara-e-Faroogh-e-Taleem has awarded gold medal to PTV producer documentaries and reporter, Farkhanda Shamim on account of her excellent news reports and documentaries on Pakistan Movement from 1930 to 1947. The 13th award giving ceremony of the Idara-e-F
Published 28 May, 2015 12:00am
Cut in policy rate hailed

Cut in policy rate hailed

The business community has hailed the decision of the present government to cut policy rate by 120 basis points. The decision to slash policy rate by 120 basis points from 8 percent to 7.00 percent has been widely welcomed by the business community, as th
Published 28 May, 2015 12:00am
PEL CEO highlights company's achievements

PEL CEO highlights company's achievements

Murad Saigol, Chief Executive Officer of Pak Elektron Ltd briefed prominent entrepreneurs and the business community at the PEL Analyst Briefing 2015 recently. Zeid Saigol, Director Power and IT, Haroon Ahmad Khan, Managing Director PEL and Syed Manzar Ha
Published 28 May, 2015 12:00am
Clarification

Clarification

Apropos a news item 'Co issued warning by SECP' carried by Business Recorder on May 26, it is clarified that the name of the company has been wrongly described as Khanani Securities (Pvt) Limited as our company is not involved in any such activitie
Published 28 May, 2015 12:00am
Rice exporters urged to explore new markets

Rice exporters urged to explore new markets

Chief Collector Customs (Enforcement) Nazim Saleem has said that the rice exporters should explore new markets, particularly in Central Asian countries, to enhance the country's exports. Speaking to the members of Rice Exporters Association of Pakistan (R
Published 28 May, 2015 12:00am
Sayal vows merit-based appointments of SHOs

Sayal vows merit-based appointments of SHOs

Sindh Home Minister, Sohail Anwar Sayal during his visit to Police Headquarters here Wednesday said appointment of Station House Officers across the province will be made on basis of merit, performance and capabilities of the concerned officers. Addressin
Published 28 May, 2015 12:00am
Officials barred from removing Chhipa Dastarkhwan from footpath

Officials barred from removing Chhipa Dastarkhwan from footpath

The Sindh High Court on Wednesday barred the civic administration from removing Chhipa Welfare Association's Dastarkhwan and workshop from a pavement near its headquarters without due course of law. A division bench headed by Justice Hassan Azhar Rizvi di
Published 28 May, 2015 12:00am
Maulana Tariq Jameel delivers lecture at DIBPL

Maulana Tariq Jameel delivers lecture at DIBPL

Maulana Tariq Jameel, renowned Islamic scholar of Pakistan visits Dubai Islamic Bank Pakistan (DIBPL) Head Office to deliver a lecture to all the staff. DIBPL is a subsidiary of Dubai Islamic Bank UAE, the world's first Islamic Bank. Maulana Tariq Jameel
Published 28 May, 2015 12:00am
SI, two cops killed in attack

SI, two cops killed in attack

Unidentified assailants opened fire on a police van on Wednesday leaving dead a sub-inspector and two constables with another constable injured. A senior police officer confirming the incident said the policemen were on routine patrolling when four uniden
Published 28 May, 2015 12:00am
KE pulls down almost 4,020 illegal connections

KE pulls down almost 4,020 illegal connections

Operation Burq continues in different parts of the city and KE's team along with the law-enforcing agencies raided different spots where defaults and theft were caught. As per details, more than 20 different areas were raided in which, Orangi, Baldia, SIT
Published 28 May, 2015 12:00am
Zong bestowed with best 3G, 4G network award

Zong bestowed with best 3G, 4G network award

Zong, Pakistan's first and only 3G & 4G network here on Wednesday won the award for the best 3G & 4G network at the Consumer Choice Awards 2014-15 held at a hotel in Karachi. Consumer Choice Awards have become the most prestigious awards amongst Pakistan'
Published 28 May, 2015 12:00am
Kidnapped student recovered

Kidnapped student recovered

In an exchange of fire in Sheen Talab area of Chaman on Wednesday, Levies personnel recovered a young student from kidnappers. According to reports, on intelligence information, the Levies raided a house where kidnapped student Inayatullah who was kidnapp
Published 28 May, 2015 12:00am
APTMA terms GIDC Act 2015 anti-business initiative

APTMA terms GIDC Act 2015 anti-business initiative

All Pakistan Textile Mills Association (APTMA) has termed Gas Infrastructure Development Cess (GIDC) Act 2015 an anti-business initiative, saying that the imposition of GIDC will lead to closure of export-oriented textile industry, which may result in law
Published 28 May, 2015 12:00am
Government urged to rescind decision
Cotton

Government urged to rescind decision

Pakistan Apparel Forum on Wednesday asked the government to reverse its decision of placing Gas Infrastructure Development Cess to scale down the textiles' growing input cost, fearing the fresh levies would downsize the country's largest exporting sector.
Published 28 May, 2015 12:00am
Cleaning Sandspit beach: SSGC joins hands with WWF Pakistan

Cleaning Sandspit beach: SSGC joins hands with WWF Pakistan

Under the environmental obligations of its CSR Program, Sui Southern Gas Company organised a "beach cleaning activity" at Sandspit in collaboration with WWF-Pakistan on May 27, 2015. The fun-filled activities unfolded at WWF's Wetland Centre at Karachi's
Published 28 May, 2015 12:00am
IMF delegation visits PSM

IMF delegation visits PSM

A three-member delegation from IMF consisting of Tokhir Mirzoev, Resident Representative IMF; Tasleem Alam, Senior Eco-Economist and S Muhammad Ali, Administrator Officer IMF called on Chief Executive Officer, Pakistan Steel Mills, Major General Zaheer Ah
Published 28 May, 2015 12:00am
Crescent Textile Mills Limited
Cotton

Crescent Textile Mills Limited

Founded in 1950, Crescent Textile Mills Ltd (Crestex) is one of the oldest players in the industry. Six years into its formation, the company started exporting a majority of its products to the US, Europe, Middle East, and Japan. In 1997, Crestex became t
Published 28 May, 2015 12:00am
Crescent Textile Mills Limited
Cotton

Crescent Textile Mills Limited

Founded in 1950, Crescent Textile Mills Ltd (Crestex) is one of the oldest players in the industry. Six years into its formation, the company started exporting a majority of its products to the US, Europe, Middle East, and Japan. In 1997, Crestex became t
Published 28 May, 2015 12:00am
Pemra chief: Government's plea dismissed

Pemra chief: Government's plea dismissed

Islamabad High Court (IHC) on Wednesday dismissed the federal government's plea to restrain Chaudhry Rashid Ahmed from resuming the charge of Pakistan Electronic Media Regulatory Authority (Pemra). Justice Noorul Haq N. Qureshi heard the application filed
Published 28 May, 2015 12:00am
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