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Print - 2015-06-02
MTFA football summer camp 2015 begins

MTFA football summer camp 2015 begins

Promising footballers of Lahore will show their skill when ninth Model Town Football Academy (MTFA) Football summer camp 2015 for Boys and Girls will begin at the MTFA Ground, Model Town, on Tuesday (Today). "As a footballer, the best I can do for youth i
Published 02 Jun, 2015 12:00am
Pesco registers: 367 FIRs against power thieves in May

Pesco registers: 367 FIRs against power thieves in May

Peshawar Electricity Supply Company (Pesco) has registered 367 FIRs against power thieves in Peshawar, Charsadda and Bannu during May 2015. According to the details during the campaign to curb the power pilferage, 79 FIRs have been lodged in Pesco Police
Published 02 Jun, 2015 12:00am
Erdogan vows to punish journalist behind Syria trucks video

Erdogan vows to punish journalist behind Syria trucks video

Turkish President Tayyip Erdogan has vowed to punish the editor of a newspaper which published video footage it said showed the MIT state intelligence agency helping send weapons to Syria. The Cumhuriyet newspaper published footage on its website on Frida
Published 02 Jun, 2015 12:00am
'Call me Caitlyn': Jenner debuts post-Bruce look

'Call me Caitlyn': Jenner debuts post-Bruce look

Caitlyn Jenner, the Olympic champion formerly known as Bruce who is transitioning to life as a woman, on Monday unveiled her new name and look in a sexy pose on the cover of Vanity Fair. Lesbian, gay, bisexual and transgender campaigners - and many well-w
Published 02 Jun, 2015 12:00am
Solar Impulse touches down on unscheduled Japan stop

Solar Impulse touches down on unscheduled Japan stop

The record-breaking Solar Impulse 2 landed in Japan Monday on an unscheduled stop after mission controllers decided the weather was not right for the sun-powered plane to cross the vast Pacific Ocean. The high-tech aircraft touched down at an airport in N
Published 02 Jun, 2015 12:00am
Bickering with rebels leaves Italy's left red-faced after elections

Bickering with rebels leaves Italy's left red-faced after elections

Italian Prime Minister Matteo Renzi's centre-left party was playing the blame game Monday after suffering a setback in regional elections which saw both the right-wing Northern League and comeback kid Silvio Berlusconi celebrate key wins. Projections show
Published 02 Jun, 2015 12:00am
Obama tells Dutch royals US committed to jet inquest

Obama tells Dutch royals US committed to jet inquest

US President Barack Obama on Monday welcomed Dutch royals King Willem-Alexander and Queen Maxima to the White House, promising to help call to account those who shot down a Malaysia Airlines jet. Obama said the United States had made a "solemn commitment"
Published 02 Jun, 2015 12:00am
Bangladesh files murder charges in 2013 garment factory tragedy

Bangladesh files murder charges in 2013 garment factory tragedy

Police in Bangladesh on Monday filed the first formal murder charges against the owner of a building that collapsed in 2013, killing more than 1,130 people in the country's worst industrial disaster. The collapse of Rana Plaza, built on swampy ground outs
Published 02 Jun, 2015 12:00am
Russia dismisses EU criticism of travel blacklist

Russia dismisses EU criticism of travel blacklist

Russia criticised the European Union on Monday for allowing the publication of a list of European officials barred from entering the country in the diplomatic fallout over the Ukraine crisis. Foreign Minister Sergei Lavrov said Moscow, which drew up the l
Published 02 Jun, 2015 12:00am
US high court backs Muslim woman denied job at Abercrombie

US high court backs Muslim woman denied job at Abercrombie

The US Supreme Court ruled Monday in favour of a Muslim woman who claimed she was denied a sales job with fashion retailers Abercrombie & Fitch as a teen because of her headscarf. By an 8-1 vote, the high court sided with the Equal Employment Opportunity
Published 02 Jun, 2015 12:00am
Ally of Germany's Merkel: Britain's EU treaty change plan is unrealistic

Ally of Germany's Merkel: Britain's EU treaty change plan is unrealistic

An ally of German Chancellor Angela Merkel said on Monday it would be unrealistic for British Prime Minister David Cameron to expect to achieve changes to European Union treaties before the country holds a referendum on its membership of the bloc. The com
Published 02 Jun, 2015 12:00am
UK plans 1980s-style sale of Lloyds shares to Britons

UK plans 1980s-style sale of Lloyds shares to Britons

Britain will launch a sale of shares in Lloyds to private retail investors in the next 12 months in what is expected to be the biggest privatisation since Margaret Thatcher's government sold off assets in the 1980s. It has also extended a facility enablin
Published 02 Jun, 2015 12:00am
UK plans 1980s-style sale of Lloyds shares to Britons

UK plans 1980s-style sale of Lloyds shares to Britons

Britain will launch a sale of shares in Lloyds to private retail investors in the next 12 months in what is expected to be the biggest privatisation since Margaret Thatcher's government sold off assets in the 1980s. It has also extended a facility enablin
Published 02 Jun, 2015 12:00am
Climate pact: France hikes pressure in 'pre-agreement' call

Climate pact: France hikes pressure in 'pre-agreement' call

France sought Monday to breathe life into talks for a UN climate pact, urging countries to forge a "pre-agreement" weeks before they meet to seal the deal in December. French Foreign Minister Laurent Fabius warned against temptations to leave a breakthrou
Published 02 Jun, 2015 12:00am
Nestle Pakistan Limited
Currency

Nestle Pakistan Limited

Nestle Pakistan Limited (NESTLE), formerly known as Nestle Milkpak Limited, is among the major FMCG companies of Pakistan. It is a subsidiary of Swiss multi-national nutritional company Nestle S.A, which had first acquired shares in Milkpak Ltd in 1988. N
Published 02 Jun, 2015 12:00am
Nestle Pakistan Limited
Currency

Nestle Pakistan Limited

Nestle Pakistan Limited (NESTLE), formerly known as Nestle Milkpak Limited, is among the major FMCG companies of Pakistan. It is a subsidiary of Swiss multi-national nutritional company Nestle S.A, which had first acquired shares in Milkpak Ltd in 1988. N
Published 02 Jun, 2015 12:00am
Pakistan should respond positively to Afghan President's letter: Leghari

Pakistan should respond positively to Afghan President's letter: Leghari

Chairman National Assembly's Standing Committee on Foreign Affairs Sardar Awais Leghari on Monday said that Pakistan should respond positively to Afghan President Ashraf Ghani's letter to the civil and military leadership and handover wanted Taliban to Ka
Published 02 Jun, 2015 12:00am
Minister's 'objectionable' remarks Seminaries boycott talks

Minister's 'objectionable' remarks Seminaries boycott talks

Following a controversial statement issued by Information Minister Pervez Rasheed against religious seminaries, five religious boards boycotted negotiations with the government on registration and regulation of seminaries, one of the major components of t
Published 02 Jun, 2015 12:00am
Wapda delivers 132.642 million units of electricity

Wapda delivers 132.642 million units of electricity

Pakistan Water and Power Development Authority has delivered 132.642 million units of hydel electricity to the national grid on May 31 in comparison to 104.17 million units generated on the same day last year, said a Wapda spokesman. He said this increase
Published 02 Jun, 2015 12:00am
'Tevta to send 100,000 skilled workforce to Qatar in next three years'

'Tevta to send 100,000 skilled workforce to Qatar in next three years'

Technical Education and Vocational Training Authority (Tevta) Chairperson Irfan Qaiser Shaikh has announced that up to 100,000 skilled workforce will be sent to Qatar in the next three years. "In order to ensure transparency and quality, all selected manp
Published 02 Jun, 2015 12:00am
Smuggled goods' sale causing over Rs 22 billion annual losses: PIAF

Smuggled goods' sale causing over Rs 22 billion annual losses: PIAF

Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has said the sale of smuggled goods is causing over Rs 22 billion annual losses to national exchequer. Local industry is in crisis due to smuggled items from Afghanistan
Published 02 Jun, 2015 12:00am
KBP urges government to give agriculture sector due importance

KBP urges government to give agriculture sector due importance

The Kisan Board Pakistan has arranged a demonstration on Monday to press the government for giving importance to the agricultural sector on which, 72 percent of Pakistan's population is dependent directly or indirectly. The demonstration was arranged unde
Published 02 Jun, 2015 12:00am
Punjab carpet industry 'employment of 500,000 more workers top priority'

Punjab carpet industry 'employment of 500,000 more workers top priority'

Punjab Minister for Excise and Taxation Mujtaba Shuja-ur-Rehman has said that employment to 500,000 additional workers in the Punjab carpet industry is on top priority of the Punjab government. While talking to various delegations of the cottage industry
Published 02 Jun, 2015 12:00am
Railway fare hike or privatisation not under consideration: Saad

Railway fare hike or privatisation not under consideration: Saad

Federal Minister for Railway Khawaja Saad Rafique has said that neither the privatisation of the Pakistan Railway nor any increase in fares is under consideration. "A coal transportation agreement with a Chinese company for the Sahiwal Coal Power Plant (1
Published 02 Jun, 2015 12:00am
Tetra Pak, UVAS jointly mark World Milk Day

Tetra Pak, UVAS jointly mark World Milk Day

Tetra Pak Pakistan and University of Veterinary and Animal Sciences (UVAS) jointly hosted a ceremony here on Monday to mark the 15th World Milk Day in which various aspects of milk and importance of unadulterated milk were highlighted. World Milk Day was
Published 02 Jun, 2015 12:00am
Savage dogs maul three kids to death in RYK

Savage dogs maul three kids to death in RYK

Three minor siblings were killed Monday when they came under attack by a pack of wild dogs in Liaquatpur tehsil of Rahim yar Khan district. According to police, the three brothers were playing in a garden outside their house when the dogs attacked them, m
Published 02 Jun, 2015 12:00am
Dairy sector: PDA concerned over government move to remove zero rating

Dairy sector: PDA concerned over government move to remove zero rating

The Pakistan Dairy Association Executive Committee in a recent meeting voiced its concern over the possible decision of the government to remove "Zero Rating" for the dairy sector. The new tax policy regime will, if implemented, increase the costs for the
Published 02 Jun, 2015 12:00am
Chairman LCAA says he will contest next LCCI elections

Chairman LCAA says he will contest next LCCI elections

Lahore Customs Agents Association Chairman Chaudhry Muhammad Amjad has announced to contest the next elections of the Lahore Chamber of Commerce and Industry with "renewed spirit and under a new platform having representation of all segments of the trade
Published 02 Jun, 2015 12:00am
Nearly 1.7 million students enrolled in PEF partner schools

Nearly 1.7 million students enrolled in PEF partner schools

Punjab Education Foundation (PEF) Managing Director Doctor Aneela Salman has claimed that currently 1.7 million male and female needy students are enrolled in the Foundation partner schools in the Punjab, adding that as a result of different expansions, t
Published 02 Jun, 2015 12:00am
All Punjab jewellers' convention tomorrow

All Punjab jewellers' convention tomorrow

Lahore Division Sarafa & Jewellers Association (LDS&JA) is holding an All Punjab Jewellers Convention and oath-taking ceremony of LDS&JA here tomorrow. Mian Muhammad Idrees, President, Federation of Pakistan Chamber of Commerce & Industry (FPCCI) will be
Published 02 Jun, 2015 12:00am
New Securities Act 2015 promulgated

New Securities Act 2015 promulgated

The Securities Act 2015 has been promulgated after receiving the Presidential assent and publication in the Official Gazette. It has been framed by the Securities and Exchange Commission of Pakistan (SECP) after detailed consultations with key stakeholder
Published 02 Jun, 2015 12:00am
Budget (2015-16): PSMA urges Dar to retain sugar FED at 8 percent

Budget (2015-16): PSMA urges Dar to retain sugar FED at 8 percent

The sugar industry has requested Finance Minister Ishaq Dar to keep intact the existing rate of 8 percent federal excise duty (FED) in budget (2015-16) without increase in duties and taxes on the commodity to ensure availability of major food items at a r
Published 02 Jun, 2015 12:00am
Budget (2015-16): PSMA urges Dar to retain sugar FED at 8 percent

Budget (2015-16): PSMA urges Dar to retain sugar FED at 8 percent

The sugar industry has requested Finance Minister Ishaq Dar to keep intact the existing rate of 8 percent federal excise duty (FED) in budget (2015-16) without increase in duties and taxes on the commodity to ensure availability of major food items at a r
Published 02 Jun, 2015 12:00am
Safoora carnage: accused makes startling disclosures

Safoora carnage: accused makes startling disclosures

An accused in the Safoora carnage case made startling disclosures on Monday, saying he was involved in recent attacks on Rangers commander, Dr Debra Lobo and schools. An investigation officer said that one of the accused Tahir confessed killing nineteen p
Published 02 Jun, 2015 12:00am
MPCL to add 10MMCFD gas to SSGC system

MPCL to add 10MMCFD gas to SSGC system

Mari Petroleum Company Limited (MPCL) is to add 10 Million Cubic Feet per Day (MMCFD) gas from Zarghun field into the system of Sui-Southern Gas Company (SSGC). According to sources in the Ministry of Petroleum and Natural Resources, the company at presen
Published 02 Jun, 2015 12:00am
Sindh government ready to hold LG polls on September 20: Sharjeel

Sindh government ready to hold LG polls on September 20: Sharjeel

Sindh Minister for Information and Local Government Sharjeel Inam Memon has said that Sindh government is ready to hold local bodies' election on September 20, and has conveyed this decision to the Election Commission of Pakistan. He said PPP believed in
Published 02 Jun, 2015 12:00am
Three political officials killed in South Waziristan blast

Three political officials killed in South Waziristan blast

Three political administration officials were killed in an explosion in Raghzai area of South Waziristan on Monday. According to a source, Political Muharar Farooq Wazir with his two associates was on his way to Wana Bazaar from his home town when their v
Published 02 Jun, 2015 12:00am
Refund requests: SBP decides to rationalise processing fee

Refund requests: SBP decides to rationalise processing fee

The State Bank of Pakistan (SBP) has decided to rationalize processing fee for refund requests against the penalties imposed on account of violations recorded in the inspection reports. The revised processing fee has been set as a lump sum amount of Rs 50
Published 02 Jun, 2015 12:00am
IHC dismisses plea seeking SSP's reinstatement

IHC dismisses plea seeking SSP's reinstatement

Islamabad High Court (IHC) on Monday dismissed a petition filed by four former inspectors general for reinstatement of sacked senior superintendent of police (SSP) Mohammad Ali Nekokara and restoration of suspended police officer Aftab Ahmed Cheema. Four
Published 02 Jun, 2015 12:00am
IHC orders CDA to demolish illegal Madrassah

IHC orders CDA to demolish illegal Madrassah

Islamabad High Court (IHC) directed the Capital Development Authority (CDA) to demolish an illegal Madrassah constructed in graveyard land in sector G-11/3 of the city. A single-member bench comprising Justice Shaukat Aziz Siddiqui passed an order in resp
Published 02 Jun, 2015 12:00am
Sethi admits his niece elected on PML-N ticket

Sethi admits his niece elected on PML-N ticket

The General Election 2013 Inquiry Commission Monday recorded the statements of former caretaker Chief Minister Punjab Najam Sethi and an anchorperson. After recording the testimonies of both the witnesses, Chairman of the GEIC Chief Justice Nasirul Mulk s
Published 02 Jun, 2015 12:00am
TRG Pakistan delegates call on Dar

TRG Pakistan delegates call on Dar

A delegation of TRG Pakistan Limited led by Zia Chishti met the Federal Minister for Finance Senator Ishaq Dar on Monday. The Minister of State for IT Anusha Rehman Khan was also present. The Finance Minister welcomed the TRG delegation and remarked that
Published 02 Jun, 2015 12:00am
Operation Burq: KE removes over 6,000 illegal connections

Operation Burq: KE removes over 6,000 illegal connections

According to KE's press statement the power utility along with the law enforcement agencies has continued to raid different spots all over the city to arrest those involved in electricity theft. As per details more than 40 raids were conducted in the area
Published 02 Jun, 2015 12:00am
11 suspects held in Tando Allahyar

11 suspects held in Tando Allahyar

Sindh Rangers arrested 11 culprits during crackdown and recovered huge cache of arms here on Monday. Spokesman of Sindh Rangers said that the paramilitary troops launched search operation in different areas of Tando Allahyar. During action, the Rangers ar
Published 02 Jun, 2015 12:00am
17 percent GST to be levied on poultry, cattle feed
Cotton

17 percent GST to be levied on poultry, cattle feed

The government has decided to impose a standard rate of 17 percent sales tax on poultry feed and cattle feed; incinerators for disposal of waste and its management, motorised sweepers/snow ploughs and re-importation of foreign origin goods, which were tem
Published 02 Jun, 2015 12:00am
First 'harsh' letter to Pakistan What is behind Ghani's 'desperation'?

First 'harsh' letter to Pakistan What is behind Ghani's 'desperation'?

The Afghan President Ashraf Ghani's recent letter to civil and military leadership to take "practical steps" to clamp down on Taliban is the outcome of immense pressure on President Ghani following a series of deadly terrorist attacks in his country. Subs
Published 02 Jun, 2015 12:00am
First 'harsh' letter to Pakistan What is behind Ghani's 'desperation'?

First 'harsh' letter to Pakistan What is behind Ghani's 'desperation'?

The Afghan President Ashraf Ghani's recent letter to civil and military leadership to take "practical steps" to clamp down on Taliban is the outcome of immense pressure on President Ghani following a series of deadly terrorist attacks in his country. Subs
Published 02 Jun, 2015 12:00am
Victim's father withdraws FIR against Mian Iftikhar

Victim's father withdraws FIR against Mian Iftikhar

The case of Pakistan Tehreek-e-Insaf (PTI) worker's killing in Nowshera took a new twist on Monday when the victim's father denied senior ANP leader Mian Iftikhar Hussain's involvement in the murder. The complainant Sher Alam father of deceased Habibullah
Published 02 Jun, 2015 12:00am
US Consulate presents American film showcase

US Consulate presents American film showcase

US Consulate Karachi invited Hollywood directors Martha Mitchell and Andy Merkin to visit Pakistan as part of the US Department of State's American Film Showcase in partnership with the University of Southern California's Film School, Hunerkada College of
Published 02 Jun, 2015 12:00am
Kausar Ghee Mills launches 'Hum Ahang' in Karachi

Kausar Ghee Mills launches 'Hum Ahang' in Karachi

Kausar Ghee Mills recently launched their exclusive "Hum Ahang" trade scheme in Karachi. Respectable traders and shopkeepers of Karachi turned up in great numbers at a ceremony. The participants were briefed about the wide-range of products of Kausar Bana
Published 02 Jun, 2015 12:00am
KP LB polls Candidates allege rigging

KP LB polls Candidates allege rigging

Candidates of local bodies' polls have alleged massive rigging in May 30 elections and demanded of the Election Commission of Pakistan (ECP) to declare it null and void to hold re-polling in their respective union councils. Addressing a news conference he
Published 02 Jun, 2015 12:00am
HRCP slams violence, curbs on women

HRCP slams violence, curbs on women

While welcoming the conclusion of local government elections in Khyber Pakhtunkhwa, the Human Rights Commission of Pakistan (HRCP) has expressed its concern that the right of women to cast their vote continued to be denied and the arrangements made for th
Published 02 Jun, 2015 12:00am
Farmers advised to prepare land for timely cotton sowing
Cotton

Farmers advised to prepare land for timely cotton sowing

The Met Office on Monday advised the farmers of Sindh and Southern Punjab to prepare their land for timely cotton sowing after wheat crop harvesting. "Farmers of Southern Punjab and Sindh are advised to prepare land for cotton in time so that best grains
Published 02 Jun, 2015 12:00am
Multiple sclerosis issue highlighted

Multiple sclerosis issue highlighted

World MS Day, that falls in May every year, unites MS organisations globally to helps raise awareness about multiple sclerosis and those living with MS to improve public understanding and support that will move us closer to a world free of MS, said Afroz
Published 02 Jun, 2015 12:00am
Milk powder importers seek big cut in duty

Milk powder importers seek big cut in duty

Milk power importers and processors have sought the assistance of Karachi Chamber of Commerce and Industry (KCCI) in convincing the government to reduce import duty on skimmed milk, whey milk and fat filled milk from the existing 25 percent to 15 percent
Published 02 Jun, 2015 12:00am
PBIF urges FBR to release refunds to exporters

PBIF urges FBR to release refunds to exporters

Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has urged upon the Federal Board of Revenue (FBR) to early release refunds to exporters. He also said that the taxpayers should undergo only one audit, as according to him mu
Published 02 Jun, 2015 12:00am
Hesco urged to address consumers' complaints

Hesco urged to address consumers' complaints

PPP Senator Aijaz Dhamrah has urged Hesco authority to timely address consumers' complaints and make complaint centres fully functional at once. A delegation comprising of President Qasimabad Tajir Association, Haji Rasool Bux; President Divisional Youth
Published 02 Jun, 2015 12:00am
Row over boat engine: Turkish shipbuilder rejects PQA's observation

Row over boat engine: Turkish shipbuilder rejects PQA's observation

Sanmar Denizcilik, a Turkish shipbuilding firm, has taken a strong exception to the Port Qasim Authority's (PQA) 'presumptuous observation' that the $2.2 million pilot boat it had supplied to the port operator in May 2013 had a refurbished caterpillar eng
Published 02 Jun, 2015 12:00am
Zulfiqar Mirza granted permission to travel abroad

Zulfiqar Mirza granted permission to travel abroad

District and Sessions Court on Monday has granted permission to former Home Minister Zulfiqar Mirza to travel abroad. In an application, Mirza requested the court that he should be allowed to travel abroad on account of medical treatment. After listening
Published 02 Jun, 2015 12:00am
Labourer stabbed to death in Shorkot

Labourer stabbed to death in Shorkot

A labourer was stabbed to death by his colleague over petty dispute here on Monday. The incident took place in a flour mill located at Multan Road in Shorkot where a labourer after exchange of hot words with another labourer killed him with sharp edged we
Published 02 Jun, 2015 12:00am
Increased tobacco use a serious health threat: expert

Increased tobacco use a serious health threat: expert

Increasing tobacco use in Pakistan is a serious health threat, as it kills six million people globally every year. Pakistan is one of the four countries, which has witnessed a rapid increase in tobacco market and the issue needs to be addressed immediatel
Published 02 Jun, 2015 12:00am
Serena survives but Sharapova sent packing in Paris

Serena survives but Sharapova sent packing in Paris

Defending champion Maria Sharapova was sent packing from the French Open at the fourth-round stage on Monday, but top seed Serena Williams survived a scare to seal her quarter-final place. Sharapova, seeded two, was beaten in straight sets 7-6 (7/3), 6-4
Published 02 Jun, 2015 12:00am
Federer, Murray sweep into quarters

Federer, Murray sweep into quarters

Roger Federer and Andy Murray swept into the French Open quarter-finals Monday as the tournament waited to see if Rafael Nadal and Novak Djokovic could tee-up a Paris blockbuster. Second seed Federer, the 2009 champion, made the last eight for the 11th ti
Published 02 Jun, 2015 12:00am
ICC President's office Sethi withdraws nomination

ICC President's office Sethi withdraws nomination

The former Pakistan Cricket Board (PCB) chairman and sitting member of the Board of Governors has withdrawn his nomination to the International Cricket Council presidency and also told the board to pick "a great Pakistani" ex-Test cricketer in his place.
Published 02 Jun, 2015 12:00am
Asia-Pacific remains firmly behind embattled Blatter

Asia-Pacific remains firmly behind embattled Blatter

There were a few fissures but no major cracks apparent in FIFA president Sepp Blatter's bedrock of Asia-Pacific support as officials began returning to the region from the annual congress of soccer's world governing body over the weekend. Asia's 47-nation
Published 02 Jun, 2015 12:00am
FA official quits FIFA role in Blatter protest

FA official quits FIFA role in Blatter protest

One of the English Football Association's two independent directors has resigned from FIFA's anti-discrimination task force following Sepp Blatter's re-election as president of world football's global governing body. Heather Rabbatts said the corruption c
Published 02 Jun, 2015 12:00am
UK says open to alternative World Cup

UK says open to alternative World Cup

Britain could back the holding of an alternative football World Cup but only with the support of European partners following last week's arrest of FIFA officials, a government minister said Monday. John Whittingdale - Culture, Media and Sport Minister - t
Published 02 Jun, 2015 12:00am
Pakistan-Italy bilateral trade relations

Pakistan-Italy bilateral trade relations

The national day of Republic of Italy is celebrated on 2nd of June every year - the day on which The Republic of Italy was born in Year 1946. My heartiest wishes are with the people of Italy on this auspicious occasion. Our two countries are working toget
Published 02 Jun, 2015 12:00am
UN buys 110,000 tonnes of wheat for Yemen, Djibouti

UN buys 110,000 tonnes of wheat for Yemen, Djibouti

A United Nations aid agency has recently bought a total 110,000 tonnes of milling wheat to be shipped to Yemen and also the east African state of Djibouti, European traders said on Monday. The purchase comprised 40,000 tonnes of wheat for Yemen and 70,000
Published 02 Jun, 2015 12:00am
Sluggish factory growth puts central bank stimulus in spotlight
Currency

Sluggish factory growth puts central bank stimulus in spotlight

Manufacturing activity showed few signs of picking up across Europe, Asia or the Americas in May as demand stayed stubbornly weak, highlighting the need for central banks to continue supporting economic growth. The gloomy business surveys come a little le
Published 02 Jun, 2015 12:00am
South Korea, China formally sign free trade pact

South Korea, China formally sign free trade pact

China and South Korea on Monday formally signed a free trade agreement (FTA) that would remove most tariffs between Asia's largest and fourth-largest economies, whose trade is already worth more than $200 billion. The pact - largely agreed in November and
Published 02 Jun, 2015 12:00am
South Korea May exports worst in six years

South Korea May exports worst in six years

South Korean exports in May suffered their worst annual fall in nearly six years partly hurt by a persistent slowdown in China, its biggest export market, heightening pressure on policy makers to cut interest rates again. The gloomy shipments data join po
Published 02 Jun, 2015 12:00am
World Bank raises 2015, 2016 growth forecasts for Russia

World Bank raises 2015, 2016 growth forecasts for Russia

The World Bank said on Monday it expects Russia's economy to contract less sharply than previously thought in 2015, citing a recovery in oil prices in recent months, a stronger rouble and slowing inflation. The bank, which also raised its forecast for 201
Published 02 Jun, 2015 12:00am
World Bank raises 2015, 2016 growth forecasts for Russia

World Bank raises 2015, 2016 growth forecasts for Russia

The World Bank said on Monday it expects Russia's economy to contract less sharply than previously thought in 2015, citing a recovery in oil prices in recent months, a stronger rouble and slowing inflation. The bank, which also raised its forecast for 201
Published 02 Jun, 2015 12:00am
Australia's wan economy needs steady diet of stimulus

Australia's wan economy needs steady diet of stimulus

Australia's economy likely grew at the slowest pace in over a year last quarter as business spending hit a pothole, while striking weakness in wages means inflation should be no bar to further policy stimulus if needed. The Reserve Bank of Australia (RBA)
Published 02 Jun, 2015 12:00am
French unemployment hits new record high in April

French unemployment hits new record high in April

French unemployment rose to a fresh record high in April, official statistics published Monday showed, with 3.53 million people out of work, a rise of 26,000 compared with the previous month. The news will come as a blow to the government of President Fra
Published 02 Jun, 2015 12:00am
CVC takes over German perfume retailer Douglas

CVC takes over German perfume retailer Douglas

Private equity firm CVC Capital Partners on Monday agreed to buy German perfume retailer Douglas from US buyout group Advent and the Kreke family for an undisclosed sum. The Kreke family, which held a 20 percent stake, will reinvest in Douglas through a j
Published 02 Jun, 2015 12:00am
US consumer spending flat; manufacturing gains some speed

US consumer spending flat; manufacturing gains some speed

US consumer spending was unexpectedly flat in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. But there are signs a rebound from t
Published 02 Jun, 2015 12:00am
EU needs 'more leadership' on US free trade deal: commissioner

EU needs 'more leadership' on US free trade deal: commissioner

The European Union's top trade official on Monday said member states needed to show more leadership in persuading citizens about the benefits of a massive and controversial free trade agreement with the United States. "Some of them (EU members) should eng
Published 02 Jun, 2015 12:00am
Saudi Arabia reserves dip $49 billion from end-2014
Currency

Saudi Arabia reserves dip $49 billion from end-2014

Saudi Arabia's foreign currency reserves dropped by $49 billion in the first four months of 2015 following the dive in world oil prices, a report said Monday. The reserves, piled up in the past decade due to high crude prices, dropped from $732 billion at
Published 02 Jun, 2015 12:00am
Madoff trustee to recoup $35.4 million from Merkin funds

Madoff trustee to recoup $35.4 million from Merkin funds

The trustee seeking money for Bernard Madoff's victims will receive $35.4 million in a settlement with two funds once run by Wall Street hedge fund manager J. Ezra Merkin. According to settlement papers filed late Friday with the US bankruptcy court in Ma
Published 02 Jun, 2015 12:00am
Madoff trustee to recoup $35.4 million from Merkin funds

Madoff trustee to recoup $35.4 million from Merkin funds

The trustee seeking money for Bernard Madoff's victims will receive $35.4 million in a settlement with two funds once run by Wall Street hedge fund manager J. Ezra Merkin. According to settlement papers filed late Friday with the US bankruptcy court in Ma
Published 02 Jun, 2015 12:00am
Japan ushers in 'shareholder friendly' reforms

Japan ushers in 'shareholder friendly' reforms

Japan on Monday adopted a corporate governance code that backers hope will usher in a new era of transparency for investors and nudge firms to spend some of their massive cash piles. Long accused of being inattentive to minority and foreign shareholders,
Published 02 Jun, 2015 12:00am
Japan ushers in 'shareholder friendly' reforms

Japan ushers in 'shareholder friendly' reforms

Japan on Monday adopted a corporate governance code that backers hope will usher in a new era of transparency for investors and nudge firms to spend some of their massive cash piles. Long accused of being inattentive to minority and foreign shareholders,
Published 02 Jun, 2015 12:00am
Message from Ambassador of Republic of Italy

Message from Ambassador of Republic of Italy

It is a honor and pleasure to celebrate today with the people of Pakistan the Italian 69th Republic Day. June 2nd is the day when Italy remembers the institutional referendum held by universal suffrage in 1946, in which the Italian people were called to t
Published 02 Jun, 2015 12:00am
Message from Acting Consul General, Republic of Italy

Message from Acting Consul General, Republic of Italy

On the 69th anniversary of the National Day of Italy, a Republic as young as Pakistan, born and moulded over a two thousand-year long history of civilisations, I am honoured to address the readers of this prestigious newspaper. I avail myself of this oppo
Published 02 Jun, 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 (June 01, 2015).

Published 02 Jun, 2015 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (June 01, 2015).

Published 02 Jun, 2015 12:00am
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