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Print - 2015-06-22
No forced loadshedding, claims Ministry

No forced loadshedding, claims Ministry

Ministry of Water and Power has said that all the damages caused to the electricity lines by heavy rainstorm on Saturday evening in different areas of the country have been completely restored and there was no forced load shedding on any feeder across the
Published 22 Jun, 2015 12:00am
No forced loadshedding, claims Ministry

No forced loadshedding, claims Ministry

Ministry of Water and Power has said that all the damages caused to the electricity lines by heavy rainstorm on Saturday evening in different areas of the country have been completely restored and there was no forced load shedding on any feeder across the
Published 22 Jun, 2015 12:00am
No forced loadshedding, claims Ministry

No forced loadshedding, claims Ministry

Ministry of Water and Power has said that all the damages caused to the electricity lines by heavy rainstorm on Saturday evening in different areas of the country have been completely restored and there was no forced load shedding on any feeder across the
Published 22 Jun, 2015 12:00am
Rising mercury killing people, hurting trade

Rising mercury killing people, hurting trade

The scorching heatwave that has gripped Karachi since the start of Ramazan has claimed the lives of scores of people, health and rescue officials said on Sunday. "So far, we have received 85 dead bodies at Jinnah Post-Graduate Medical Centre since Saturda
Published 22 Jun, 2015 12:00am
Rising mercury killing people, hurting trade

Rising mercury killing people, hurting trade

The scorching heatwave that has gripped Karachi since the start of Ramazan has claimed the lives of scores of people, health and rescue officials said on Sunday. "So far, we have received 85 dead bodies at Jinnah Post-Graduate Medical Centre since Saturda
Published 22 Jun, 2015 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

Firmness prevailed on the money market as the rupee managed to hold the present levels versus the dollar during the week, ended on 20 June, 2015. In the interbank market, the rupee was almost unchanged in terms of the dollar for buying and selling at Rs 1
Published 22 Jun, 2015 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

Firmness prevailed on the money market as the rupee managed to hold the present levels versus the dollar during the week, ended on 20 June, 2015. In the interbank market, the rupee was almost unchanged in terms of the dollar for buying and selling at Rs 1
Published 22 Jun, 2015 12:00am
The Weather

The Weather

The weather report on Sunday (June 21, 2015) and the forecast for Monday (June 22, 2015).

Published 22 Jun, 2015 12:00am
Your rupee last week
Currency

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (June 15 to 18 2015).

Published 22 Jun, 2015 12:00am
PBIF lauds Dar for accepting tax proposals

PBIF lauds Dar for accepting tax proposals

President Pakistan Businessmen and Intellectuals Forum (PBIF) and former provincial minister Mian Zahid Hussain on Sunday lauded Finance Minister Ishaq Dar for accepting some of the tax proposals presented by the business community.
Published 22 Jun, 2015 12:00am
PML-N, PTI rallies: MQM condemns display of weapons

PML-N, PTI rallies: MQM condemns display of weapons

The Co-ordination Committee of Muttahida Quami Movement has strongly condemned the illegal exhibition of automatic weapons in the rallies of ruling parties, PML-N and PTI, during the by-elections in Gujranwala.
Published 22 Jun, 2015 12:00am
ICAP holds post budget seminar

ICAP holds post budget seminar

The Northern Regional Committee (NRC) of the Institute of Chartered Accountants of Pakistan (ICAP) organised a post budget seminar recently at Royal Palm with the primary objective was to discuss and deliberate on the possible consequences of the Federal
Published 22 Jun, 2015 12:00am
Former CJ BHC demands establishment of registry at Khuzdar

Former CJ BHC demands establishment of registry at Khuzdar

A former Chief Justice of Balochistan High Court (BHC), Abdul Qadir Mengal on Sunday demanded establishment of a registry of BHC at Khuzdar. Addressing a press conference here at his chambers, he said that the litigants of Khuzdar had to travel to Quetta,
Published 22 Jun, 2015 12:00am
NAQI ZAFAR (KARACHI)

NAQI ZAFAR (KARACHI)

This refers to a Business Recorder news item 'Iftar dinner: Light turnout after Zardari alienates affections of many." The absence of prime minister Nawaz Sharif and Mahmood Khan Achakzai in particular proves that Asif Zardari has indeed alienated some of
Published 22 Jun, 2015 12:00am
Budget in elitist economy - III
Cotton

Budget in elitist economy - III

Disturbing facts: The details of huge non-productive expenditures of Rs 13,029,701 million, reproduced below from Demands for Grants and Appropriations for Budget 2015-16, must be an eye-opener for all:
Published 22 Jun, 2015 12:00am
Provincial budgets: same o same o!

Provincial budgets: same o same o!

The four provincial budgets had four elements in common with each other as well as with their own previous budgets: a heavy reliance on federal releases to provinces identified by the federal government (based on an overly optimistic Gross Domestic Produc
Published 22 Jun, 2015 12:00am
A disgusting land grab scheme

A disgusting land grab scheme

Greed of some people in this country knows no bounds. The Capital Development Authority (CDA) has come up with a sordid plan to turn an important agricultural research facility into a real estate business project. According to a Recorder report, the CDA h
Published 22 Jun, 2015 12:00am
Why do we continue to fool ourselves?

Why do we continue to fool ourselves?

The Federal Minister for water and power Khwaja Asif after a meeting on energy chaired by Prime Minister Mian Nawaz Sharif announced that there shall be no loadshedding at Iftar and Sehr while the industries in the month of Ramazan would need to do away w
Published 22 Jun, 2015 12:00am
Moody's rating upgrade
Currency

Moody's rating upgrade

It was good to see that when National Assembly was still discussing the pros and cons of the annual budget for the year 2015-16, Moody's Investor Service upgraded Pakistan's sovereign credit rating from Caa1 to B3 besides improving the rating assigned to
Published 22 Jun, 2015 12:00am
Japan, South Korea hold talks amid 'comfort women' feud

Japan, South Korea hold talks amid 'comfort women' feud

Japanese Foreign Minister Fumio Kishida held talks with his South Korean counterpart on Sunday in a bid to mend ties strained by a territorial dispute and a feud over "comfort women" forced to work in Japan's wartime military brothels.
Published 22 Jun, 2015 12:00am
Fears after IS group mines Syria's Palmyra

Fears after IS group mines Syria's Palmyra

Islamic State group jihadists have mined the spectacular ancient ruins in Syria's Palmyra, an antiquities official and monitor said Sunday, prompting fears for the UNESCO World Heritage site. The reports came one month after the extremist group overran th
Published 22 Jun, 2015 12:00am
South African ministers 'plotted to protect Bashir'

South African ministers 'plotted to protect Bashir'

The South African government secretly plotted to ensure safe passage out of the country for Sudanese President Omar al-Bashir despite an international warrant for his arrest on war crimes charges, a newspaper reported on Sunday.
Published 22 Jun, 2015 12:00am
Israel removes video 'denigrating' foreign press

Israel removes video 'denigrating' foreign press

Israel's foreign ministry has taken down a video that angered foreign journalists by ridiculing their coverage of the Hamas-ruled Gaza Strip, saying it had been "misinterpreted". "The goal of the video was to illustrate the crimes of Hamas," ministry spok
Published 22 Jun, 2015 12:00am
Basques form human chains demanding independence vote

Basques form human chains demanding independence vote

Thousands of people formed human chains in cities across Spain's wealthy northern Basque Country on Sunday to call for the right to hold a regional referendum on independence. Demonstrators held long multi-coloured cloths as they marched through the Basqu
Published 22 Jun, 2015 12:00am
Britain extends commitment to Nato reassurance

Britain extends commitment to Nato reassurance

Britain will boost its commitment to Nato reassurance efforts in Eastern Europe by extending the length of time its troops and fighter jets are involved, Defence Minister Michael Fallon said on Sunday. The military alliance has been beefing up its defence
Published 22 Jun, 2015 12:00am
Three killed as clashes grip Ukraine ahead of talks

Three killed as clashes grip Ukraine ahead of talks

Ukraine on Sunday reported the death of two soldiers, while pro-Russian rebels accused Kiev's forces of killing a civilian as fresh clashes preceded peace talks aimed at ending the 15-month war. Kiev military spokesman Andriy Lysenko said two government t
Published 22 Jun, 2015 12:00am
Philippines takes precautions as volcano turns lively

Philippines takes precautions as volcano turns lively

The Philippines has stockpiled food supplies in case of evacuations after a volcano emitted ash and smoke six times in recent weeks, officials said Sunday. In addition to the emergency food packs, authorities are closely watching communities near Bulusan
Published 22 Jun, 2015 12:00am
Peace is pre-requisite for national development: Speaker KP

Peace is pre-requisite for national development: Speaker KP

Speaker, Khyber Pakhtunkhwa Assembly, Asad Qaiser has said that national development and security is possible only in peace and urged religious cleric to stand by the government in battle to foil the nefarious designs of the enemies spreading religious ha
Published 22 Jun, 2015 12:00am
KP to complete two hydel projects this month

KP to complete two hydel projects this month

Two hydel power projects including 2.6 megawatt Machai (Mardan) and 17 megawatt Ranolia (Kohistan) will complete by the end of the current financial year, said the White Paper of Khyber Pakhtunkhwa budget for financial year 2015-16.
Published 22 Jun, 2015 12:00am
Biodiversity conservation: new economic incentives being devised

Biodiversity conservation: new economic incentives being devised

The Ministry of Climate Change is implementing a project to promote biodiversity conservation and strengthen existing conservation efforts with innovative market-based mechanism. The project called "Mountains and Market Biodiversity and Business in Northe
Published 22 Jun, 2015 12:00am
Five killed in Swat road accident

Five killed in Swat road accident

Five persons were killed and four other including three minor brothers injured in a head on collision between a jeep and commuter-pick up at Gogdara, Peshawar-Mingora Road Swat on Sunday. In the incident a father was died while his three minor children su
Published 22 Jun, 2015 12:00am
Photographic exhibition attracts nature enthusiasts

Photographic exhibition attracts nature enthusiasts

The ongoing photography exhibition, highlighting the significance of cultural preservation in Pakistan, is attracting nature enthusiasts and is also an inspiration for them to travel across the country. The exhibition which started here on June 16, at Sat
Published 22 Jun, 2015 12:00am
Telecom services contribution to reach up to 1.4 percent of GDP by 2025

Telecom services contribution to reach up to 1.4 percent of GDP by 2025

Ministry of Information Technology and Telecommunications (MoIT) has envisioned taking contribution of telecom services up to 1.4 percent of Gross Domestic Product (GDP) by 2025. Besides, the active export of telecom sector will be enhanced from $1.4 bill
Published 22 Jun, 2015 12:00am
KP industrial sector investment is Rs 136.88 billion

KP industrial sector investment is Rs 136.88 billion

Total investment in industrial sector of Khyber Pakhtunkhwa is Rs 136.880 billion, which is providing direct employment to 71340 persons in the province. According to White Paper of the budget for financial year 2015-16, the province has 2.481 industrial
Published 22 Jun, 2015 12:00am
Prices of food commodities sky-high

Prices of food commodities sky-high

Prices of food stuff and commodities have skyrocketed in markets of provincial metropolis, since the beginning of holy month of Ramazan, according to survey conducted by Business Recorder here on Sunday. A visit to some of markets in provincial capital by
Published 22 Jun, 2015 12:00am
Unrecognised colleges: PMDC to take action against faculty working

Unrecognised colleges: PMDC to take action against faculty working

Pakistan Medical and Dental Council (PMDC) has decided to take action against faculty working in the unrecognised medical and dental colleges. The council in its 139th meeting decided that the faculty, which were currently teaching in the medical and dent
Published 22 Jun, 2015 12:00am
PIA inducts A-320 on ISB-Skardu route

PIA inducts A-320 on ISB-Skardu route

A PIA A-320 carrying over 100 passengers landed at Skardu Airport. Previously smaller aircraft such as Fokker, ATR and B-737 linked Islamabad with Skardu. The A-320 has a much larger seating capacity.
Published 22 Jun, 2015 12:00am
Nisar inaugurates three mega road projects

Nisar inaugurates three mega road projects

Federal Minister for Interior Chaudhry Nisar Ali Khan on Sunday inaugurated the roads of Airport, high court and Adiala which have a total cost of Rs 1100 million including their construction, repairing and widening. The Interior Minister said on this occ
Published 22 Jun, 2015 12:00am
Engines that run on spores and water

Engines that run on spores and water

US researchers said Tuesday they have developed a way to harness water evaporation as a cheap and planet-friendly way of powering engines. A team from Columbia University in New York and Loyola University Chicago built tiny experimental gadgets that opera
Published 22 Jun, 2015 12:00am
Last month was hottest May in modern history: US

Last month was hottest May in modern history: US

Last month marked the hottest May in modern history, continuing a troubling trend of rising global temperatures, US government scientists said Thursday "This was the warmest May on record," said Derek Arndt, chief of the monitoring branch at the National
Published 22 Jun, 2015 12:00am
Earth's groundwater being drained at rapid rate

Earth's groundwater being drained at rapid rate

Human activity is leading to the rapid draining of about one third of the planet's largest underground water reserves and it is unclear how much fluid remains in them, two new studies have found.
Published 22 Jun, 2015 12:00am
MERS sparks mask rush in Asia, but are they effective?

MERS sparks mask rush in Asia, but are they effective?

As South Korea scrambles to control an outbreak of the killer MERS virus, its fearful citizens have donned surgical masks en masse - but the jury is out on whether they actually protect against the invisible enemy lurking in the air.
Published 22 Jun, 2015 12:00am
First 3D-print steel canal bridge in Amsterdam

First 3D-print steel canal bridge in Amsterdam

A Dutch start-up has unveiled plans to build the world's first 3D-printed bridge across an Amsterdam canal, a technique that could become standard on future construction sites. Using robotic printers "that can 'draw' steel structures in 3D, we will print
Published 22 Jun, 2015 12:00am
'Stop eating Nutella'

'Stop eating Nutella'

France's ecology minister, Segolene Royal, has rankled the company that makes Nutella by urging the public to stop eating its irresistible chocolate hazelnut spread, saying it contributes to deforestation.
Published 22 Jun, 2015 12:00am
'Billions' of records at risk from mobile app data flaw

'Billions' of records at risk from mobile app data flaw

Security researchers have uncovered a flaw in the way thousands of popular mobile applications store data online, leaving users' personal information, including passwords, addresses, door codes and location data, vulnerable to hackers. The team of German
Published 22 Jun, 2015 12:00am
Mini PCs pack enough power for everyday office work

Mini PCs pack enough power for everyday office work

Getting a new computer doesn't mean you need to buy a quality notebook or fit a big new case under your desk: for plenty of people, a mini-PC will fulfil most needs, say experts at a German computer magazine. The mini-PCs, which are boxes about the size o
Published 22 Jun, 2015 12:00am
Philippines tests health app for remote islands

Philippines tests health app for remote islands

The Philippines is testing an app that will speed up delivery of health services to hundreds of remote island communities, the science department said Thursday. Using the app, designed for tablets using Google's Android operating system, the health office
Published 22 Jun, 2015 12:00am
More data hacks could emerge from probe: US officials

More data hacks could emerge from probe: US officials

Following disclosures of devastating breaches of US government computer networks, officials told lawmakers Tuesday even more intrusions may be discovered with investigations and deployment of new security tools. At a congressional hearing where lawmakers
Published 22 Jun, 2015 12:00am
New Firefox integrates Pocket reading list service

New Firefox integrates Pocket reading list service

The latest version of Firefox's browser integrates Pocket, an app for storing reading lists, allowing users to set aside an interesting long-read piece on any of their devices and recall it on any other gadgets at a later time to read at leisure. Until no
Published 22 Jun, 2015 12:00am
Digital property often in limbo after owner's death

Digital property often in limbo after owner's death

When a person dies, there's usually a fairly set procedure on how to dispose of his or her tangible property. But that's rarely the case when trying to figure out what to do with a person's digital assets. According to a study by German technology industr
Published 22 Jun, 2015 12:00am
Singapore telcos to stop 2G services from April 2017

Singapore telcos to stop 2G services from April 2017

Singapore's three telecommunications operators said they would stop providing older second-generation (2G) mobile technology services in the wealthy city state from April 1, 2017, as rising smartphone ownership has led to higher data usage rates. "To cate
Published 22 Jun, 2015 12:00am
Facebook launches private photo sharing for friends

Facebook launches private photo sharing for friends

Facebook on Monday unveiled a new feature that allows smartphone users to privately share photos of friends, by sifting through images with facial recognition technology. The standalone app, called Moments, allows users to share photos with friends who ar
Published 22 Jun, 2015 12:00am
Microsoft's Bing expands encryption of web traffic

Microsoft's Bing expands encryption of web traffic

Bing, the Microsoft-powered search engine, has announced it will encrypt most online traffic in the coming months as part of a ramped-up security effort. In a blog post late Monday, Bing's Duane Forrester said users had an option to use encryption for the
Published 22 Jun, 2015 12:00am
App colours up folders in Windows 7 to make them memorable

App colours up folders in Windows 7 to make them memorable

If you find you're getting confused because all your folders in Windows Explorer default to the colour yellow, check out the free app Folderico, which lets you change the colours of your folders to make them easier to find. The Windows 7 tool can be integ
Published 22 Jun, 2015 12:00am
Canadian oil producers eye hedging catch-up at $65/barrel

Canadian oil producers eye hedging catch-up at $65/barrel

Canadian energy producers are giving up hoping for a big rebound in oil prices, preparing instead to embark on a course of belated hedging if crude prices edge just a few dollars higher. As crude markets collapsed during the first half of this year, Canad
Published 22 Jun, 2015 12:00am
Australia visa rules to push migrants into small-cap stocks

Australia visa rules to push migrants into small-cap stocks

Australian wealth managers are scrambling to take advantage of new visa rules that would compel wealthy would-be migrants, mostly Chinese, to invest in capital-hungry small companies to qualify for residence, while continuing to bar them from direct prope
Published 22 Jun, 2015 12:00am
Helicopter makers upbeat on market

Helicopter makers upbeat on market

Top US and European helicopter executives said this week that the oil price-led commercial helicopter market slump would be temporary and that they will keep investing in new technologies given the sector's positive long-term outlook. The downturn will li
Published 22 Jun, 2015 12:00am
Helicopter makers upbeat on market

Helicopter makers upbeat on market

Top US and European helicopter executives said this week that the oil price-led commercial helicopter market slump would be temporary and that they will keep investing in new technologies given the sector's positive long-term outlook. The downturn will li
Published 22 Jun, 2015 12:00am
Supply chain wary as Airbus and Boeing push output envelope

Supply chain wary as Airbus and Boeing push output envelope

A rare note of dissent permeated the Paris Airshow this week as suppliers worried they might lose out if they invest to meet higher commercial jet production targets that ultimately prove unsustainable.
Published 22 Jun, 2015 12:00am
Russia's online retailer Ozon to tap cross-border trade

Russia's online retailer Ozon to tap cross-border trade

Russian online retailer Ozon will begin hosting merchants from China and Europe this year to tap booming cross-border trade, its chief executive told Reuters. Ozon, part-owned by the Sistema conglomerate, also plans to make major investments in new wareho
Published 22 Jun, 2015 12:00am
Disney exploring virtual reality for video games

Disney exploring virtual reality for video games

Walt Disney Co's interactive unit is considering bringing Disney Infinity or other video games into the world of virtual reality. Adapting elements of current titles is one option the company is exploring, James Pitaro, president of Disney Interactive, sa
Published 22 Jun, 2015 12:00am
Amazon sees line-of-sight hurdle to US drone parcel delivery

Amazon sees line-of-sight hurdle to US drone parcel delivery

Amazon insisted Wednesday on a significant change to proposed US drone regulations before it introduces 30-minute Prime Air parcel delivery by unmanned aerial vehicles to its American customers. The online retail giant - a major player in the development
Published 22 Jun, 2015 12:00am
Global brands stretched by India's food safety record

Global brands stretched by India's food safety record

At a McDonald's plant outside Mumbai, 200 workers walk through air dryers and disinfectant pools, then get to work making the day's 25,000 patties from chicken painstakingly sourced in a country with one of the world's worst food safety records.
Published 22 Jun, 2015 12:00am
'Boring' banks a safe haven in a scary world

'Boring' banks a safe haven in a scary world

When fears of a Greek default are mounting, stock markets are jittery at multi-year highs, and the world's biggest economy is preparing to hike interest rates, the idea of taking refuge in bank stocks might appear to be a hard sell.
Published 22 Jun, 2015 12:00am
Argentina struggle into Copa quarters, Uruguay advance

Argentina struggle into Copa quarters, Uruguay advance

Argentina marked Lionel Messi's 100th cap with an unconvincing 1-0 win over Jamaica to reach the Copa America quarter-finals as group winners on Saturday as holders Uruguay advanced to the last eight. Napoli striker Gonzalo Higuain rifled home the only go
Published 22 Jun, 2015 12:00am
Federer rules Halle for eighth time with win over Seppi

Federer rules Halle for eighth time with win over Seppi

Roger Federer won the Halle Open for a record-extending eighth time on Sunday by beating Italy's Andreas Seppi 7-6(1) 6-4 in a successful dress rehearsal on grass ahead of Wimbledon. Defending champion Federer, who has now won Halle more times than any ot
Published 22 Jun, 2015 12:00am
Arab League slams 'hateful campaign' against Qatar

Arab League slams 'hateful campaign' against Qatar

The Arab League on Sunday condemned what it called the "hateful campaign" against Qatar's controversial hosting of the 2022 World Cup, amid a corruption scandal rocking football's governing body FIFA. The League's General Assembly in a statement declared
Published 22 Jun, 2015 12:00am
Morgan enjoys England's reversal of fortune

Morgan enjoys England's reversal of fortune

England captain Eoin Morgan said his side were beginning to see the fruits of their one-day labours after sealing a dramatic 3-2 series win over New Zealand on Saturday. Jonny Bairstow, only called into the squad on Friday after fellow wicket-keeper/batsm
Published 22 Jun, 2015 12:00am
Kleber targets Wimbledon after debut grass win
Kerb

Kleber targets Wimbledon after debut grass win

Angelique Kerber suggested that she is back to her best in time for Wimbledon after lifting her first grass court title in a compelling final against Karolina Pliskova in Birmingham on Sunday. The German's 6-7 (5/7), 6-3, 7-6 (7/4) win sets her up well fo
Published 22 Jun, 2015 12:00am
Murray take fourth Queen's title

Murray take fourth Queen's title

Britain's Andy Murray won the Aegon Championships at Queen's Club by dismantling big-serving South African Kevin Anderson 6-3 6-4 in a one-sided final on Sunday. To the delight of the home crowd, the world number three showed no sign of weariness when ret
Published 22 Jun, 2015 12:00am
Seven-star Yasir leads Pakistan to win first Test over Sri Lanka

Seven-star Yasir leads Pakistan to win first Test over Sri Lanka

Leg-spinner Yasir Shah claimed a career-best seven for 76 as Pakistan stunned Sri Lanka by 10 wickets in the first Test on Sunday to take the lead in the three-match series. Yasir spun a web around the Sri Lankan batsmen to skittle them for a paltry 206 i
Published 22 Jun, 2015 12:00am
Chinese firms pour money into US R&D in shift to innovation

Chinese firms pour money into US R&D in shift to innovation

Surging investment by Chinese companies in US research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation.
Published 22 Jun, 2015 12:00am
Bulgarian government opposes proposed power price hike

Bulgarian government opposes proposed power price hike

Bulgaria's centre-right government said on Sunday it opposes a plan by the country's energy regulator to increase electricity prices for industrial consumers as of July. The state-owned Commission for Energy and Water Regulation (KEVR) announced plans to
Published 22 Jun, 2015 12:00am
US, India discuss intellectual property concerns

US, India discuss intellectual property concerns

Indian Finance Minister Arun Jaitley said on Saturday that senior Obama administration officials had raised US concerns with him about India's handling of intellectual property rights during his US visit this week.
Published 22 Jun, 2015 12:00am
Brussels says blocked Russian accounts being unfrozen

Brussels says blocked Russian accounts being unfrozen

Russian state accounts frozen in Belgium to cover a court settlement compensating shareholders in defunct oil company Yukos are in the process of being unblocked, Belgium's foreign minister said. Russia last week condemned the asset freeze and said it wou
Published 22 Jun, 2015 12:00am
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