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Print - 2015-08-12
APTMA chief urges government to devalue Pakistan rupee or withdraw taxes

APTMA chief urges government to devalue Pakistan rupee or withdraw taxes

All Pakistan Textile Mills Association (APTMA) Chairman S M Tanveer has urged the government to devalue the Pakistani rupee by 15 percent or drop innovative taxes, surcharge and gas infrastructure development cess from the textile industry. In a press con
Published 12 Aug, 2015 12:00am
PDWP approves 21 uplift schemes

PDWP approves 21 uplift schemes

The Provincial Development Working Party (PDWP) Punjab approved 21 development schemes of various development Sectors with an estimated cost of Rs 25.9 billions including Lahore Orange Line Metro Train Project (shifting of utilities) at the cost of Rs 9.5
Published 12 Aug, 2015 12:00am
Pakistan, Belarus agree on fast track relationship

Pakistan, Belarus agree on fast track relationship

Pakistan and Belarus on Tuesday agreed on fast tracking their relations by preparing a medium and long term roadmap to chart out future collaboration and identification of new areas of co-operation. Prime Minister Muhammad Nawaz Sharif, who is on a three-
Published 12 Aug, 2015 12:00am
Modern educational institution need of the hour: Mamnoon

Modern educational institution need of the hour: Mamnoon

President Mamnoon Hussain has said that establishment of modern educational institutions is the need of the hour for achieving progress in science and technology adding that the government is paying serious attention to these sectors. The President said t
Published 12 Aug, 2015 12:00am
Economy having clear precedence over politics: President

Economy having clear precedence over politics: President

That all indicators point to improvement in overall situation in the country and added that new possibilities for economic revival are emerging taking advantage of which is the need of the hour. President Mamnoon Hussain made these remarks while talking t
Published 12 Aug, 2015 12:00am
Iraq parliament approves PM's anti-corruption plan

Iraq parliament approves PM's anti-corruption plan

Iraq's parliament on Tuesday unanimously approved Prime Minister Haider al-Abadi's reform programme aimed at curbing the corruption and government waste that sparked widespread anger and weeks of protests. Abadi on Sunday proposed a series of measures to
Published 12 Aug, 2015 12:00am
ICE cotton falls ahead of monthly supply-demand report
Currency

ICE cotton falls ahead of monthly supply-demand report

ICE cotton futures fell on Tuesday as China's currency devaluation kindled concerns about demand, though physical buying and positioning ahead of Wednesday's US government supply and demand report limited losses. "The price is right here," said Michael Qu
Published 12 Aug, 2015 12:00am
Shanghai copper retest resistance at 39,710 yuan

Shanghai copper retest resistance at 39,710 yuan

Shanghai copper may retest a resistance at 39,710 yuan per tonne, a break above which will lead to a gain to the next resistance at 39,990 yuan. These resistances are identified respectively as the 123.6 percent and the 138.2 percent Fibonacci projection
Published 12 Aug, 2015 12:00am
Tokyo rubber drops on weaker commodities prices
Currency

Tokyo rubber drops on weaker commodities prices

Benchmark Tokyo rubber futures dropped in thin trade on Tuesday after hitting a one-week high earlier, as weaker commodities prices following a surprise move to devalue the Chinese currency and slack car sales in top buyer China hurt sentiment. The Tokyo
Published 12 Aug, 2015 12:00am
ICE Canada canola falls
Currency

ICE Canada canola falls

ICE Canada canola futures fell on Tuesday in sympathy with broad commodity declines following China's devaluation of its currency. Oil, copper and other commodities tumbled after China's move, which raised concerns that a persistently weaker currency will
Published 12 Aug, 2015 12:00am
Brazil sugar cane, coffee harvests to stay dry until end August
Cotton

Brazil sugar cane, coffee harvests to stay dry until end August

Conditions during harvest in Brazil's main sugar-cane and coffee belt will stay dry until the end of August or early September, when the first rains in over a month will fall in the south-east growing region, local forecaster Somar said Tuesday. Somar met
Published 12 Aug, 2015 12:00am
Palm inches up on ringgit weakness, exports fail to impress
Currency

Palm inches up on ringgit weakness, exports fail to impress

Malaysian palm oil futures edged up on Tuesday after the ringgit weakened to fresh 17-year lows, but remained not far off their 11-month troughs as recent data showed tepid demand for the edible oil, traders said. By the close on Tuesday, the benchmark pa
Published 12 Aug, 2015 12:00am
The Weather

The Weather

The weather report on Tuesday (August 11, 2015) and the forecast for Wednesday (August 12, 2015).

Published 12 Aug, 2015 12:00am
Raw sugar dips near seven-year low, arabica firms
Currency

Raw sugar dips near seven-year low, arabica firms

Raw sugar futures on ICE eased on Tuesday but remained above the seven-year low hit in the previous session, while arabica coffee rose on technically driven buying and cocoa held steady. October raw sugar futures on ICE fell by 0.09 cents per lb, or 0.85
Published 12 Aug, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
Gold falls from three-week high in Asian trade
Currency

Gold falls from three-week high in Asian trade

Gold dropped on Tuesday as the dollar strengthened after China devalued its currency to prop up its economy, adding to the downward pressure on bullion from a looming increase in US interest rates. Beijing allowed the yuan to fall to its lowest level in n
Published 12 Aug, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
Gold at three-week high as investors assess China currency move
Currency

Gold at three-week high as investors assess China currency move

Gold rose to a three-week high on Tuesday as the dollar reversed gains, global stocks fell and investors assessed the impact of China's move to devalue its currency and prop up its economy. Beijing allowed the yuan to fall to its lowest level in nearly th
Published 12 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 12 Aug, 2015 12:00am
Thai government sells nearly 430,000 tonnes of rice

Thai government sells nearly 430,000 tonnes of rice

Thailand's military government has sold 426,977 tonnes of rice from state stocks to 47 local buyers, a Commerce Ministry official said on Tuesday, continuing efforts to offload rice accumulated under a previous government's subsidy scheme. Some 668,000 to
Published 12 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 12 Aug, 2015 12:00am
US MIDDAY: soybeans fall

US MIDDAY: soybeans fall

Chicago Board of Trade soybean futures fell 2.6 percent on Tuesday after China's devaluation of the yuan sparked a rally in the dollar that made US commodities more expensive for the world's top buyer of soybeans. The drop in soybeans, which erased much o
Published 12 Aug, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
US MIDDAY: corn down
Currency

US MIDDAY: corn down

US corn and soybean futures fell on Tuesday from two-week highs as stable US crop ratings eased concerns about dry weather while China's devaluation of the yuan led to broad weakness in commodity markets. Wheat also slipped, after rallying in step with co
Published 12 Aug, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (August 11, 2015)

Published 12 Aug, 2015 12:00am
Violence in Afghanistan

Violence in Afghanistan

This is apropos to "Death toll soars to 55: Kabul hit by lethal wave of bombings" carried by Business Recorder the other day. According to report, the explosions on Friday which devastated buildings and overwhelmed hospitals with hundreds of casual
Published 12 Aug, 2015 12:00am
Google overhaul 'shareholder friendly' but details scarce

Google overhaul 'shareholder friendly' but details scarce

Google Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose. Analysts and i
Published 12 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 Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
China's devaluation fires cannon in global currency war
Currency

China's devaluation fires cannon in global currency war

The global currency war entered a new and critical phase on Tuesday as China's surprise devaluation threatened to unleash a wave of competitive devaluations and keep monetary policy around the world looser for longer - perhaps even forcing the US Federal
Published 12 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
No respite for ailing power sector

No respite for ailing power sector

The payables and receivables of the power sector continue to rise at an alarming rate. It is reported that the receivables as per close of financial year ending 30 June 2015 stand at Rs 635 billion as against Rs 513 billion in the year ending 30th June 20
Published 12 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
No more silence on child abuse

No more silence on child abuse

How come it took nine years for the truth about the horrifying pursuit of a pedophile gang in a village just an hour's drive from Lahore to emerge? Some two dozen members of the gang would force-manage a child abuse scene, film it, take it to the victim's
Published 12 Aug, 2015 12:00am
Debt management

Debt management

Finance Minister Ishaq Dar chaired a meeting over the weekend to discuss measures to improve public debt management. This remains an integral component of the 6.64 billion dollar Extended Fund Facility (EFF) programme approved by the International Monetar
Published 12 Aug, 2015 12:00am
THE RUPEE: rates move cautiously
Currency

THE RUPEE: rates move cautiously

The rupee moved cautiously against the dollar after the Yuan's devaluation on Tuesday in the process of trading, dealers said. According to reports, China devalued the Yuan after a run of poor economic data, guiding the currency to its lowest point in alm
Published 12 Aug, 2015 12:00am
THE RUPEE: rates move cautiously
Currency

THE RUPEE: rates move cautiously

The rupee moved cautiously against the dollar after the Yuan's devaluation on Tuesday in the process of trading, dealers said. According to reports, China devalued the Yuan after a run of poor economic data, guiding the currency to its lowest point in alm
Published 12 Aug, 2015 12:00am
LG polls in Sindh, Punjab: ECP plea seeking more time rejected by SC

LG polls in Sindh, Punjab: ECP plea seeking more time rejected by SC

The Supreme Court Tuesday turned down the Election Commission of Pakistan's (ECP) plea to grant one more month for Local Bodies (LB) polls in Punjab and Sindh and sought the elections schedules by August 12 (today). Resuming the hearing of a matter relati
Published 12 Aug, 2015 12:00am
LG polls in Sindh, Punjab: ECP plea seeking more time rejected by SC

LG polls in Sindh, Punjab: ECP plea seeking more time rejected by SC

The Supreme Court Tuesday turned down the Election Commission of Pakistan's (ECP) plea to grant one more month for Local Bodies (LB) polls in Punjab and Sindh and sought the elections schedules by August 12 (today). Resuming the hearing of a matter relati
Published 12 Aug, 2015 12:00am
Ceasefire violations: Pakistan summons Indian diplomat

Ceasefire violations: Pakistan summons Indian diplomat

Pakistan on Tuesday summoned a senior Indian diplomat and lodged protest over the death of a woman from Kashmir, after she was injured in cross-border shelling. Indian troops opened fire in the Jandrot sector of the Line of Control (LoC) - on August 8, se
Published 12 Aug, 2015 12:00am
Ceasefire violations: Pakistan summons Indian diplomat

Ceasefire violations: Pakistan summons Indian diplomat

Pakistan on Tuesday summoned a senior Indian diplomat and lodged protest over the death of a woman from Kashmir, after she was injured in cross-border shelling. Indian troops opened fire in the Jandrot sector of the Line of Control (LoC) - on August 8, se
Published 12 Aug, 2015 12:00am
MCB posts record performance for quarter

MCB posts record performance for quarter

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2015. MCB Bank has created history by po
Published 12 Aug, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (August 11, 2015).

Published 12 Aug, 2015 12:00am
MCB posts record performance for quarter

MCB posts record performance for quarter

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2015. MCB Bank has created history by po
Published 12 Aug, 2015 12:00am
MCB posts record performance for quarter

MCB posts record performance for quarter

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2015. MCB Bank has created history by po
Published 12 Aug, 2015 12:00am
MCB posts record performance for quarter

MCB posts record performance for quarter

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2015. MCB Bank has created history by po
Published 12 Aug, 2015 12:00am
Taxable salary income: individuals liable to file e-returns for TY15

Taxable salary income: individuals liable to file e-returns for TY15

The Federal Board of Revenue (FBR) has made it mandatory for all taxpayers earning taxable salary to file their income tax returns electronically for the Tax Year 2015 as the condition of Rs 500,000 income for mandatory electronic filing is no more in vog
Published 12 Aug, 2015 12:00am
Taxable salary income: individuals liable to file e-returns for TY15

Taxable salary income: individuals liable to file e-returns for TY15

The Federal Board of Revenue (FBR) has made it mandatory for all taxpayers earning taxable salary to file their income tax returns electronically for the Tax Year 2015 as the condition of Rs 500,000 income for mandatory electronic filing is no more in vog
Published 12 Aug, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 12 Aug, 2015 12:00am
Taxable salary income: individuals liable to file e-returns for TY15

Taxable salary income: individuals liable to file e-returns for TY15

The Federal Board of Revenue (FBR) has made it mandatory for all taxpayers earning taxable salary to file their income tax returns electronically for the Tax Year 2015 as the condition of Rs 500,000 income for mandatory electronic filing is no more in vog
Published 12 Aug, 2015 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 12 Aug, 2015 12:00am
WHT dispute: bodies to submit proposals shortly

WHT dispute: bodies to submit proposals shortly

Committees on income tax, sales tax and communications constituted by the government to hold a dialogue with business community in the wake of their reservations on withholding tax on bank transactions would submit their proposals in a couple of days, it
Published 12 Aug, 2015 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 12 Aug, 2015 12:00am
WHT dispute: bodies to submit proposals shortly

WHT dispute: bodies to submit proposals shortly

Committees on income tax, sales tax and communications constituted by the government to hold a dialogue with business community in the wake of their reservations on withholding tax on bank transactions would submit their proposals in a couple of days, it
Published 12 Aug, 2015 12:00am
WHT dispute: bodies to submit proposals shortly

WHT dispute: bodies to submit proposals shortly

Committees on income tax, sales tax and communications constituted by the government to hold a dialogue with business community in the wake of their reservations on withholding tax on bank transactions would submit their proposals in a couple of days, it
Published 12 Aug, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 12 Aug, 2015 12:00am
MQM rejects Nabeel Gabol's allegations

MQM rejects Nabeel Gabol's allegations

Muttahida Quami Movement (MQM) Co-ordination Committee has rejected the allegations levelled by Nabeel Gabol against party chief Altaf Hussain, terming these baseless, concocted and fabricated. The Committed said that accusations leveled by Nabeel Gabol w
Published 12 Aug, 2015 12:00am
ISE index gains 17.57 points

ISE index gains 17.57 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) on Tuesday, where investors adopted a cautious approach under the lead of hot favorite amid increase in index. ISE Ten Index showed an improvement of 17.57 points as the ISE Ten Index moved fr
Published 12 Aug, 2015 12:00am
ISE index gains 17.57 points

ISE index gains 17.57 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) on Tuesday, where investors adopted a cautious approach under the lead of hot favorite amid increase in index. ISE Ten Index showed an improvement of 17.57 points as the ISE Ten Index moved fr
Published 12 Aug, 2015 12:00am
LSE index falls 20.17 points

LSE index falls 20.17 points

Shares on Lahore Stock Exchange swung to and fro and finally ended in green zone amid ascending transaction volume. LSE-25 index declined by 20.17 points to 6279.29 against 6299.46 of Monday while trading turnover increased to 2.579 million shares compare
Published 12 Aug, 2015 12:00am
LSE index falls 20.17 points

LSE index falls 20.17 points

Shares on Lahore Stock Exchange swung to and fro and finally ended in green zone amid ascending transaction volume. LSE-25 index declined by 20.17 points to 6279.29 against 6299.46 of Monday while trading turnover increased to 2.579 million shares compare
Published 12 Aug, 2015 12:00am
ECC to consider auto policy today

ECC to consider auto policy today

Economic Co-ordination Committee of the Cabinet is to consider the much-awaited five-year Auto Policy 2015-18 on Wednesday (today) with complaints from industry that it has not been taken on board due to last minute changes, sources close to Secretary Ind
Published 12 Aug, 2015 12:00am
ECC to consider auto policy today

ECC to consider auto policy today

Economic Co-ordination Committee of the Cabinet is to consider the much-awaited five-year Auto Policy 2015-18 on Wednesday (today) with complaints from industry that it has not been taken on board due to last minute changes, sources close to Secretary Ind
Published 12 Aug, 2015 12:00am
ECC to consider auto policy today

ECC to consider auto policy today

Economic Co-ordination Committee of the Cabinet is to consider the much-awaited five-year Auto Policy 2015-18 on Wednesday (today) with complaints from industry that it has not been taken on board due to last minute changes, sources close to Secretary Ind
Published 12 Aug, 2015 12:00am
'Threats' from MQM: Gabol seeks security

'Threats' from MQM: Gabol seeks security

Former MNA Nabeel Gabol on Tuesday filed a petition in the Sindh High Court, claiming that he received death threats from Muttahida Qaumi Movement (MQM) chief Altaf Hussain. In his petition, Gabol stated that Altaf Hussain is angry at him for revealing fa
Published 12 Aug, 2015 12:00am
Reaching out to Russia?

Reaching out to Russia?

Neither Belarus nor Alexander Lukashenko is unknown to Pakistanis. "Belarus" is a name that means nearly the same as tractor since Minsk Tractor Works helped Pakistan establish a tractor facility in Karachi in 1962 while President Lukashenko is the absolu
Published 12 Aug, 2015 12:00am
Reaching out to Russia?

Reaching out to Russia?

Neither Belarus nor Alexander Lukashenko is unknown to Pakistanis. "Belarus" is a name that means nearly the same as tractor since Minsk Tractor Works helped Pakistan establish a tractor facility in Karachi in 1962 while President Lukashenko is the absolu
Published 12 Aug, 2015 12:00am
Government sells NPCC stake, fetches Rs 2.5 billion

Government sells NPCC stake, fetches Rs 2.5 billion

The government Tuesday privatised the National Power Construction Company (NPPC), fetching Rs 2.5 billion. The government of Pakistan has sold 88 percent of the total shares or 1.76 million of its shares in NPCC to the Saudi Arabia''s company M/s Mansour
Published 12 Aug, 2015 12:00am
Government sells NPCC stake, fetches Rs 2.5 billion

Government sells NPCC stake, fetches Rs 2.5 billion

The government Tuesday privatised the National Power Construction Company (NPPC), fetching Rs 2.5 billion. The government of Pakistan has sold 88 percent of the total shares or 1.76 million of its shares in NPCC to the Saudi Arabia's company M/s Mansour A
Published 12 Aug, 2015 12:00am
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