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Print - 2015-08-07
World Bank told: Tax to GDP ratio to be brought to respectable level

World Bank told: Tax to GDP ratio to be brought to respectable level

Pakistan has assured World Bank that the present government is committed to reaching a respectable tax of GDP ratio of 15 percent by 2017-18 through domestic resource mobilisation, while by June 2016 the overall tax collection would be at least 11.5 perce
Published 07 Aug, 2015 12:00am
ACE Sindh seizes record of STBB's expenditures

ACE Sindh seizes record of STBB's expenditures

Officials of the Sindh Anti-Corruption Establishment raided the office of Sindh Text Book Board (STBB) in Jamshoro on Thursday. ACE Deputy Director Mir Nadir Abro told APP that they seized the record of budgetary expenditures of the last four years beside
Published 07 Aug, 2015 12:00am
Failing hygiene conditions: PFA drags down famous food outlets

Failing hygiene conditions: PFA drags down famous food outlets

A drive meant to check food outlets failing hygiene conditions and food quality has dragged on with the Punjab Food Authority (PFA) this time around sealing off a Chinese restaurant in Gulberg and other food outlets. The seal-off came on Thursday when an
Published 07 Aug, 2015 12:00am
Elimination of corruption: Qamar for sustainable NAB-SECP relationship

Elimination of corruption: Qamar for sustainable NAB-SECP relationship

The NAB Chairman, Qamar Zaman Chaudhry, has stressed the need for a sustainable relationship between the NAB and the SECP to eliminate the menace of corruption. He was addressing the SECP employees at its head office on Thursday. He reiterated the NAB's f
Published 07 Aug, 2015 12:00am
Wattoo welcomes withdrawal of motions against PTI

Wattoo welcomes withdrawal of motions against PTI

President Pakistan Peoples' Party Punjab Manzoor Wattoo has lauded the withdrawal of the motions by political parties seeking to de-seat the Pakistan Tehreek-e-Insaf MNAs from the National Assembly, saying that it will augur very well for the Parliament a
Published 07 Aug, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (August 06, 2015) and the forecast for Friday (August 07, 2015).

Published 07 Aug, 2015 12:00am
Debit/credit card machines: Retailers required to obtain ST registration

Debit/credit card machines: Retailers required to obtain ST registration

The retailers with debit/credit card machines are not required to obtain sales tax registration from the Federal Board of Revenue (FBR). In this regard, the FBR has issued SRO. 738(I)/2015 on Thursday. According to the FBR, initially it was mandatory for
Published 07 Aug, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
Plot to explode Khushal Express foiled

Plot to explode Khushal Express foiled

Police foiled an attempt of blasting Khushal Khan Khattak Express by diffusing five-kg explosive material in Jacobabad on Thursday. As per details, the train was scheduled to cross Dil Murad Railway Station when security officers cordoned off the entire a
Published 07 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 07 Aug, 2015 12:00am
Body formed to probe cancellation of HEC sell-off

Body formed to probe cancellation of HEC sell-off

Senate Standing Committee on Finance has constituted a sub-committee to dig out details regarding privatisation of Heavy Electrical Complex (HEC) after the Privatisation Commission Chairman failed to give satisfactory answers to the questions of the commi
Published 07 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 07 Aug, 2015 12:00am
Prime Minister to visit Belarus next week

Prime Minister to visit Belarus next week

Prime Minister Nawaz Sharif will leave for Minsk, Belarus on August 10, on the invitation of Belarusian President Alexander Lukashenko, Foreign Office disclosed this on Thursday. FO Spokesperson Qazi Khalilullah at the weekly press beefing on Thursday sai
Published 07 Aug, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
Mir kya sada hain...

Mir kya sada hain...

That the dynamics of politics throw up unpredictable developments is often a grim reality. It was less than a week ago that Muttahida Qaumi Movement (MQM) chief Altaf Hussain made highly objectionable remarks against country's security institutions, seeki
Published 07 Aug, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (August 06, 2015)

Published 07 Aug, 2015 12:00am
Oil bulls' hope for quick price dip dimmed by 2020 crude under $70

Oil bulls' hope for quick price dip dimmed by 2020 crude under $70

As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year - a speculative slide below $50 a barrel followed by a quick recovery.
Published 07 Aug, 2015 12:00am
Strengthening NAB's financial crime wing

Strengthening NAB's financial crime wing

When NAB was established in 1999 the initial target was to go after those who had committed bank frauds and/or did not return the loans taken on flimsy pretexts. The first money recovered was from bank defaulters, over Rs 50 billion in the first two years
Published 07 Aug, 2015 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
Fair and just tax system

Fair and just tax system

There is a national consensus that the existing exploitative, outdated, regressive, ill-directed and unfair tax system is stifling economic growth and widening the rich- poor divide. It needs to be replaced with an equitable, fair, pragmatic and investmen
Published 07 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
The much-awaited verdict

The much-awaited verdict

After five months of hearing petitions challenging the 18th and 21st Constitutional Amendments, the Supreme Court dismissed both petitions in a split decision announced on Wednesday. Delivering a much awaited verdict on the 18th Amendment by a majority of
Published 07 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
PM should resolve the brewing impasse
Cotton

PM should resolve the brewing impasse

Businesspeople supported Pakistan Muslim League (Nawaz) as a political party in the last elections in large numbers because they felt that Nawaz Sharif being a scion of a noted business family would display a better appreciation of their needs and difficu
Published 07 Aug, 2015 12:00am
Shanghai copper approach resistance at 38,410 yuan

Shanghai copper approach resistance at 38,410 yuan

Shanghai copper may approach a resistance at 38,410 yuan per tonne again, as it has managed to stabilise around a support at 37,950 yuan. The support is provided by the 14.6 percent Fibonacci projection level of a wave C, the third wave of a three-wave cy
Published 07 Aug, 2015 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

The rupee recovered modestly against the dollar on the local money market on Thursday in the process of trading, dealers said. The rupee managed to recover four-paisa in terms of the dollar for buying and selling at Rs 101.79 and Rs 101.80 respectively, t
Published 07 Aug, 2015 12:00am
Supply glut pushes aluminium to six-year low

Supply glut pushes aluminium to six-year low

Aluminium prices tumbled to six-year lows on Thursday as the market focused on a growing supply glut due to surging exports from top producer China and high stocks. Benchmark aluminium on the London Metal Exchange slid to $1,576 a tonne, the lowest since
Published 07 Aug, 2015 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

The rupee recovered modestly against the dollar on the local money market on Thursday in the process of trading, dealers said. The rupee managed to recover four-paisa in terms of the dollar for buying and selling at Rs 101.79 and Rs 101.80 respectively, t
Published 07 Aug, 2015 12:00am
Oil at multi-month lows; hunt for new bottom as gasoline piles up

Oil at multi-month lows; hunt for new bottom as gasoline piles up

Oil set multi-month lows on Thursday as investors and traders sought clues about the market's next bottom after a large drop in US crude inventories failed to boost prices. A bigger-than-expected build in US gasoline stockpiles last week proved more impor
Published 07 Aug, 2015 12:00am
Tokyo rubber ends up 0.8 percent

Tokyo rubber ends up 0.8 percent

Benchmark Tokyo rubber futures ended up 0.8 percent on Thursday as the yen's fall to a two-month low against the US dollar led investors to unwind some short positions despite oil prices trading near multi-month lows. Tokyo Commodity Exchange (TOCOM) futu
Published 07 Aug, 2015 12:00am
Cameroon cocoa output and exports increase

Cameroon cocoa output and exports increase

Cameroon's 2014/15 cocoa production increased to 232,530 tonnes compared with 209,905 tonnes the previous season, National Cocoa and Coffee Board (NCCB) data released on Thursday showed. Cocoa bean exports rose by 23,500 tonnes from 2013/14 levels to reac
Published 07 Aug, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (August 06, 2015).

Published 07 Aug, 2015 12:00am
Soybeans end higher on US weather jitters

Soybeans end higher on US weather jitters

Chicago Board of Trade soybean futures closed higher on Wednesday on forecasts for drier weather in the US Midwest as the crop sets pods, and positioning ahead of monthly US government crop reports due next week, traders said. The US Department of Agricul
Published 07 Aug, 2015 12:00am
Palm oil slides to near one-year low
Vegetable Oil

Palm oil slides to near one-year low

Malaysian palm oil futures slid for a second straight session on Thursday to their lowest in almost a year, with pressure from slowing imports by top consumers India and China amid expectations of higher production. The benchmark palm oil contract for Oct
Published 07 Aug, 2015 12:00am
Raw sugar, arabica coffee fall
Currency

Raw sugar, arabica coffee fall

Raw sugar and arabica coffee futures fell on Thursday, erasing earlier gains after the real currency of Brazil, the top grower of both commodities, continued its slide to more-than 12-year lows. Cocoa on ICE Futures US fell for the fifth straight session
Published 07 Aug, 2015 12:00am
Gold edges up in New York

Gold edges up in New York

Gold edged higher on Thursday, supported by the retreating US dollar and a tumble in global equities as traders awaited US employment data seen as key to determining when the Federal Reserve may raise interest hikes. US non-farm payrolls data are due on F
Published 07 Aug, 2015 12:00am
Gold stuck in Asian trade

Gold stuck in Asian trade

Gold struggled to pull away from a 5-1/2-year low on Thursday after more upbeat US economic data bolstered prospects that the Federal Reserve could lift interest rates as soon as next month. A surge in US services industry activity to a near-decade high s
Published 07 Aug, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 07 Aug, 2015 12:00am
Gold steady near 2010 low ahead of US jobs data

Gold steady near 2010 low ahead of US jobs data

Gold steadied on Thursday as investors awaited US employment data that could bolster prospects of the Federal Reserve raising interest rates as early as next month. US non-farm payrolls are due on Friday and economists polled by Reuters predict employment
Published 07 Aug, 2015 12:00am
EU wheat extends gains with Chicago to near two-week high

EU wheat extends gains with Chicago to near two-week high

Euronext wheat futures rose to their highest in almost two weeks on Thursday as a rally in Chicago and technical momentum on price charts offset pressure from an advancing wheat harvest. December milling wheat on the Paris-based Euronext market was up 2.2
Published 07 Aug, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 07 Aug, 2015 12:00am
US MIDDAY: soybeans, corn dip

US MIDDAY: soybeans, corn dip

Soybean and corn futures slipped on Thursday, pressured by disappointing US export sales, forecasts for mostly favourable Midwest weather and technical selling. Chicago Board of Trade wheat rose on better-than-expected export sales. "We had a nice bounce
Published 07 Aug, 2015 12:00am
Soap ''importer'': Tax office showing reluctance to register case

Soap ''importer'': Tax office showing reluctance to register case

Directorate of Intelligence & Investigation-Inland Revenue (I&I-IR), Karachi has been dilatory since April 2015 to register a tax evasion case against a leading soap importer, due to external pressure; it was learnt here on Thursday. According to sources,
Published 07 Aug, 2015 12:00am
Soap 'importer': Tax office showing reluctance to register case

Soap 'importer': Tax office showing reluctance to register case

Directorate of Intelligence & Investigation-Inland Revenue (I&I-IR), Karachi has been dilatory since April 2015 to register a tax evasion case against a leading soap importer, due to external pressure; it was learnt here on Thursday. According to sources,
Published 07 Aug, 2015 12:00am
Soap 'importer': Tax office showing reluctance to register case

Soap 'importer': Tax office showing reluctance to register case

Directorate of Intelligence & Investigation-Inland Revenue (I&I-IR), Karachi has been dilatory since April 2015 to register a tax evasion case against a leading soap importer, due to external pressure; it was learnt here on Thursday. According to sources,
Published 07 Aug, 2015 12:00am
Conspiracy being hatched in Islamabad: Altaf

Conspiracy being hatched in Islamabad: Altaf

Altaf Hussain, head of Muttahida Qaumi Movement (MQM) on Thursday announced to move Supreme Court to file a fresh petition against the missing persons in Karachi. Addressing the MQM workers at Lal Qila Ground, Altaf said that no suo moto notice was taken
Published 07 Aug, 2015 12:00am
Conspiracy being hatched in Islamabad: Altaf

Conspiracy being hatched in Islamabad: Altaf

Altaf Hussain, head of Muttahida Qaumi Movement (MQM) on Thursday announced to move Supreme Court to file a fresh petition against the missing persons in Karachi. Addressing the MQM workers at Lal Qila Ground, Altaf said that no suo moto notice was taken
Published 07 Aug, 2015 12:00am
Five killed in drone attack

Five killed in drone attack

A US drone attack on a militant compound in a tribal area on Thursday killed at least five militants, security officials said. The drone strike took place in Lawra Mandi area of Datta Khel in the North Waziristan tribal district bordering Afghanistan, whe
Published 07 Aug, 2015 12:00am
Five killed in drone attack

Five killed in drone attack

A US drone attack on a militant compound in a tribal area on Thursday killed at least five militants, security officials said. The drone strike took place in Lawra Mandi area of Datta Khel in the North Waziristan tribal district bordering Afghanistan, whe
Published 07 Aug, 2015 12:00am
Sisi unveils 'new Suez Canal'

Sisi unveils 'new Suez Canal'

President Abdel Fattah al-Sisi unveiled an expanded Suez Canal Thursday in a lavish ceremony, with the first ships passing through the waterway in what Egypt hopes will boost its economy and global standing. Sisi, dressed in a ceremonial military uniform,
Published 07 Aug, 2015 12:00am
Sisi unveils 'new Suez Canal'

Sisi unveils 'new Suez Canal'

President Abdel Fattah al-Sisi unveiled an expanded Suez Canal Thursday in a lavish ceremony, with the first ships passing through the waterway in what Egypt hopes will boost its economy and global standing. Sisi, dressed in a ceremonial military uniform,
Published 07 Aug, 2015 12:00am
Textile sector: all ST refunds to be issued by 31st: FBR

Textile sector: all ST refunds to be issued by 31st: FBR

The FBR has assured the textile sector that all sales tax refunds would be issued to the textile sector by August 31, 2015 and has taken decision for speedy payment of refunds to the textile sector. On the directions of Finance Minister Ishaq Dar, a high
Published 07 Aug, 2015 12:00am
Textile sector: all ST refunds to be issued by 31st: FBR

Textile sector: all ST refunds to be issued by 31st: FBR

The FBR has assured the textile sector that all sales tax refunds would be issued to the textile sector by August 31, 2015 and has taken decision for speedy payment of refunds to the textile sector. On the directions of Finance Minister Ishaq Dar, a high
Published 07 Aug, 2015 12:00am
Textile sector: all ST refunds to be issued by 31st: FBR

Textile sector: all ST refunds to be issued by 31st: FBR

The FBR has assured the textile sector that all sales tax refunds would be issued to the textile sector by August 31, 2015 and has taken decision for speedy payment of refunds to the textile sector. On the directions of Finance Minister Ishaq Dar, a high
Published 07 Aug, 2015 12:00am
Forex reserves hit historic high

Forex reserves hit historic high

The country''s total liquid foreign exchange reserves reached $18.88 billion historic level mainly due to arrival of Coalition Support Fund (CSF). According to State Bank of Pakistan (SBP) weekly forex report issued Thursday, Pakistan''s total liquid fore
Published 07 Aug, 2015 12:00am
Forex reserves hit historic high

Forex reserves hit historic high

The country's total liquid foreign exchange reserves reached $18.88 billion historic level mainly due to arrival of Coalition Support Fund (CSF). According to State Bank of Pakistan (SBP) weekly forex report issued Thursday, Pakistan's total liquid foreig
Published 07 Aug, 2015 12:00am
Forex reserves hit historic high

Forex reserves hit historic high

The country's total liquid foreign exchange reserves reached $18.88 billion historic level mainly due to arrival of Coalition Support Fund (CSF). According to State Bank of Pakistan (SBP) weekly forex report issued Thursday, Pakistan's total liquid foreig
Published 07 Aug, 2015 12:00am