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Dec 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-08-25
Oil cake market rates
Cotton

Oil cake market rates

The December vaida drifted lower on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The December vaida closed at Rs 1303.80, it however, shed 30 paisa at Rs 1303.50 in the early session, dealers said.
Published 25 Aug, 2015 12:00am
Phutti prices drift lower on cotton market
Currency

Phutti prices drift lower on cotton market

Easier trend was witnessed on the cotton market on Monday as prices of fine types continued fall in the process of trading, dealers said. The official spot rate was unchanged at Rs 4,600, dealers said. Seed cotton prices in Sindh were lower at Rs 2300 and
Published 25 Aug, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,752 million. The number of lots traded was 11.36 million. PMEX Commodity Index closed at 2,495 level. Major business was contributed by gold amounting to PKR 3,669 million followed
Published 25 Aug, 2015 12:00am
US natural gas futures fall on milder weather

US natural gas futures fall on milder weather

US natural gas futures fell in modest trade on Friday on short-term forecasts for milder weather. Front-month gas futures on the New York Mercantile Exchange fell 2.9 percent to close at $2.676 per million British thermal units, maintaining early-day loss
Published 25 Aug, 2015 12:00am
US Midwest corn and soyabean bids drop

US Midwest corn and soyabean bids drop

US crop processors and rail markets dropped their corn and soyabean basis bids on Friday ahead of the autumn harvests, grain merchants said. A processor in Decatur, Illinois, reduced its soyabean bid by 10 cents from Thursday, bringing the bid down by a t
Published 25 Aug, 2015 12:00am
India's gold demand to hit 950 tonnes as prices fall

India's gold demand to hit 950 tonnes as prices fall

India's gold demand might reach 950 tonnes this year as lower prices spur buying during the peak festival season and for weddings, the world's biggest gold refiner, Valcambi, said. Stronger demand in the world's second-biggest gold consumer could support
Published 25 Aug, 2015 12:00am
China's July corn, corn substitute imports hit record high

China's July corn, corn substitute imports hit record high

China's imports of corn and corn substitutes, including barley, sorghum and distillers' grain (DDGS) hit a record high in July as feed mills took advantage of cheap overseas prices to replace expensive domestic grain. The aggressive purchases have prompte
Published 25 Aug, 2015 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 309,536 tonnes of cargo comprising 261,192 tonnes of import cargo and 48,344 tonnes of export cargo including 6,543 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 261
Published 25 Aug, 2015 12:00am
Russia's July gasoline exports down 28.5 percent

Russia's July gasoline exports down 28.5 percent

Russian gasoline and gas oil exports fell 28.5 percent and 3.6 percent, respectively, in July from June, while shipments of fuel oil were up by 2.2 percent, Energy Ministry data and Reuters calculations showed. Russian domestic supplies of gasoline were d
Published 25 Aug, 2015 12:00am
Credit scheme backfired, hiking greenhouse gases

Credit scheme backfired, hiking greenhouse gases

A global scheme meant to keep atmospheric greenhouse gas (GHG) levels in check instead caused some 600 million tonnes of excess emissions, researchers said Monday. They blamed a loophole in the Kyoto Protocol's Joint Implementation (JI) mechanism which al
Published 25 Aug, 2015 12:00am
Schwab to pay $2 million for net capital violations

Schwab to pay $2 million for net capital violations

A Charles Schwab Corp unit has agreed to a $2 million civil fine for three instances in which it failed to keep sufficient cash on hand, Wall Street's industry-funded watchdog said on Monday. The Financial Industry Regulatory Authority (FINRA) also censur
Published 25 Aug, 2015 12:00am
France, Germany shrug off markets rout over China woes

France, Germany shrug off markets rout over China woes

France and Germany on Monday shrugged off a rout in world markets over China's slowing growth, with French President Francois Hollande saying that the global economy was "strong enough" to withstand any such downturn. "The world economy is strong enough t
Published 25 Aug, 2015 12:00am
Unions call off London Tube strike

Unions call off London Tube strike

Unions representing London's Underground staff on Monday called off two 24-hour strikes planned for this week, which threatened more chaos for commuters already hit by walkouts over plans for night services. Three unions - the Rail, Maritime and Transport
Published 25 Aug, 2015 12:00am
Daimler to cut another 1,500 jobs at Brazil truck plant

Daimler to cut another 1,500 jobs at Brazil truck plant

Daimler said it was cutting another 1,500 jobs at a trucks plant in Brazil in response to a slump in demand in the country. The affected employees at the Sao Bernardo do Campo factory near Sao Paolo were notified on Friday, a spokesman for Daimler said on
Published 25 Aug, 2015 12:00am
White House aims to boost homeowner renewable energy use

White House aims to boost homeowner renewable energy use

The White House on Monday expanded its push for greater renewable energy adoption, announcing fresh financial incentives for solar panels, smart grid technology and other alternative energies for homeowners and builders. President Barack Obama will travel
Published 25 Aug, 2015 12:00am
German workers lead Europe with 8 weeks of leave, holidays

German workers lead Europe with 8 weeks of leave, holidays

German workers top the European Union in time off with an average of 30 days of paid leave plus 10 days of public holidays per year, the IW institute said on Monday. In a study for the Bavarian employers association, the Institut der deutschen Wirtschaft
Published 25 Aug, 2015 12:00am
Microsoft's Cortana assistant launched on Android

Microsoft's Cortana assistant launched on Android

Microsoft said Monday its Cortana virtual assistant software was available to users of Android mobile devices. Cortana is Microsoft's answer to Apple's Siri and Google Now, which respond to voice commands on mobile devices. The launch is part of an effort
Published 25 Aug, 2015 12:00am
CEO says Apple growth still 'strong' in China

CEO says Apple growth still 'strong' in China

Apple is still seeing "strong growth" in China despite fears about an economic slowdown which have sparked a global market rout, chief executive Tim Cook said Monday. Cook responded to a query from CNBC about the sharp drop in Apple shares amid the market
Published 25 Aug, 2015 12:00am
Indonesia extends tax incentives for some industries

Indonesia extends tax incentives for some industries

Indonesia has extended its tax incentives for "pioneering" industries such as oil refinery and infrastructure to help attract more investment into the country as economic growth has slowed to its weakest in six years. Indonesia is now offering a tax reduc
Published 25 Aug, 2015 12:00am
Indonesia extends tax incentives for some industries

Indonesia extends tax incentives for some industries

Indonesia has extended its tax incentives for "pioneering" industries such as oil refinery and infrastructure to help attract more investment into the country as economic growth has slowed to its weakest in six years. Indonesia is now offering a tax reduc
Published 25 Aug, 2015 12:00am
Malaysia's reserves fall again
Currency

Malaysia's reserves fall again

Malaysia's international reserves have dropped again, a slide that's beginning to worry some economists and investors as the ringgit continues to weaken. Currency reserves fell to $94.5 billion as of August 14, Bank Negara Malaysia (BNM) said on Friday, f
Published 25 Aug, 2015 12:00am
De Beers cuts diamond prices to boost demand

De Beers cuts diamond prices to boost demand

De Beers, the world's biggest diamond producer, has lowered prices by as much as nine percent to boost sales, Bloomberg News said Monday quoting three unnamed sources. The move came amid a wider commodities slump, with global stock markets plunging over f
Published 25 Aug, 2015 12:00am
Southern Co becomes No 2 US utility with $8 billion AGL deal

Southern Co becomes No 2 US utility with $8 billion AGL deal

US power producer Southern Co said it would buy AGL Resources Inc for about $8 billion in cash to build out its natural gas infrastructure and lower its dependence on power generation. The combined company will operate about 200,000 miles of electric line
Published 25 Aug, 2015 12:00am
Cotton plunges on profit-taking amid global equities rout
Cotton

Cotton plunges on profit-taking amid global equities rout

Benchmark cotton futures on ICE Futures US fell to their lowest levels in 1-1/2 weeks on Monday in their sharpest selloff in over a year as a collapse in China's stock markets triggered sell-offs across global equities and commodities markets. This prompt
Published 25 Aug, 2015 12:00am
Shanghai copper down

Shanghai copper down

Shanghai Futures Exchange copper finished 1.9 percent lower at 38,280 yuan a tonne on Monday over slowing economic growth in China, the world's top consumer of industrial metals. Activity in China's factory sector shrank at its fastest pace in almost 6-1/
Published 25 Aug, 2015 12:00am
Copper tumbles to six-year low

Copper tumbles to six-year low

Copper prices tumbled to six-year lows on Monday alongside Shanghai equities on growing nervousness about economic activity and demand prospects in top industrial metals consumer China. Benchmark copper on the London Metal Exchange earlier fell nearly 4 p
Published 25 Aug, 2015 12:00am
Oil tumbles five percent to new lows as China fears intensify rout

Oil tumbles five percent to new lows as China fears intensify rout

Oil's weeks-long slump accelerated sharply on Monday with prices tumbling more than 5 percent to fresh 6-1/2-year lows as a renewed dive in the Chinese equities market sent global financial markets into a tailspin. A near 9-percent tumble in China shares
Published 25 Aug, 2015 12:00am
Germany starts move to ban GMO crops

Germany starts move to ban GMO crops

Germany has initiated a move to stop the growing of genetically modified crops under new European Union rules, documents seen by Reuters showed on Monday. German Agriculture Minister Christian Schmidt has informed German state governments of his intention
Published 25 Aug, 2015 12:00am
Tokyo rubber plunges

Tokyo rubber plunges

Benchmark Tokyo rubber futures hit their lowest in over 10-1/2 months on Monday, dragged down by a sharp dive in Shanghai futures and other commodities, a rising Japanese yen against the dollar, and lower Japanese equities. Tokyo Commodity Exchange (TOCOM
Published 25 Aug, 2015 12:00am
Palm oil falls nearly 6-1/2-year low
Vegetable Oil

Palm oil falls nearly 6-1/2-year low

Malaysian palm oil futures extended earlier losses to fall more than 4 percent on Monday as the tropical oil tracked other global markets lower on concerns about the Chinese economy. At the close, the benchmark palm oil contract for November on the Bursa
Published 25 Aug, 2015 12:00am
Raw sugar hits seven-year low, cocoa rises
Currency

Raw sugar hits seven-year low, cocoa rises

Raw sugar futures slumped to a seven-year low and arabica coffee slid 4 percent to its weakest level in more than 1-1/2 years on Monday, as concern about a China-led economic slowdown prompted broad-based losses in commodity markets. Cocoa futures initial
Published 25 Aug, 2015 12:00am
Gold down in Asia

Gold down in Asia

Gold edged down, but stayed close to its highest level in almost seven weeks on Monday as worries over a slowing Chinese economy pushed investors away from risky assets and into those deemed as safe haven. Asian equities tumbled to three-year lows, the US
Published 25 Aug, 2015 12:00am
Gold at multi-week highs in Europe
Currency

Gold at multi-week highs in Europe

Gold edged higher on Monday to trade near a seven-week top as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a US rate rise. The metal was initially dragged lower by heavy losses in the rest of the c
Published 25 Aug, 2015 12:00am
EU crop monitor cuts 2015 maize yield

EU crop monitor cuts 2015 maize yield

The European Union's crop-monitoring service on Monday cut its yield forecast for this year's EU grain maize harvest for a second straight month, after hot, dry weather stressed crops in major producing countries. The MARS service projected the average gr
Published 25 Aug, 2015 12:00am
US MIDDAY: soya pares losses

US MIDDAY: soya pares losses

US soyabean futures pared losses and briefly traded higher early on Monday after dropping to six-year lows as concerns about the faltering economy in top-importer China fuelled deep sell-offs in commodities and equities. Farm markets rebounded as US stock
Published 25 Aug, 2015 12:00am
India to raise $1.4 billion from top oil refiner stake sale

India to raise $1.4 billion from top oil refiner stake sale

India will raise about 93.79 billion rupees ($1.4 billion) from selling a stake in state-run refiner and fuel retailer Indian Oil Corp, the government said on Monday, even as a global stock market rout raised concerns about future offerings. New Delhi is
Published 25 Aug, 2015 12:00am
Indian shares post biggest fall in 6-1/2 years
Currency

Indian shares post biggest fall in 6-1/2 years

Indian shares slumped nearly 6 percent on Monday, posting their biggest daily falls since January 2009 as steep falls in Chinese equities sparked widespread unrest in global markets. The rupee also fell, hitting its weakest since early September 2013, and
Published 25 Aug, 2015 12:00am
Australian shares plunge

Australian shares plunge

Australia's benchmark share index suffered its biggest percentage drop in 6-1/2 years on Monday, led by a global rout on concerns about a China-led global economic slowdown. The S&P/ASX 200 index tumbled 4.09 percent, or 213.3 points to 5,001.3 at the clo
Published 25 Aug, 2015 12:00am
South East Asian stocks down

South East Asian stocks down

Southeast Asian stock markets plunged to fresh lows on Monday on concerns over China's economy and selloffs in global equities. Alarm bells rang across world markets as a 9 percent dive in Chinese shares and a sharp drop in the dollar and major commoditie
Published 25 Aug, 2015 12:00am
South Africa stocks tank in China-led sell-off

South Africa stocks tank in China-led sell-off

South African stocks tanked on Monday as a near 9-percent dive in Chinese shares and a sharp drop in the dollar and major commodities sent investors scrambling. Losses showed across the board, as big resource stocks such as Kumba Iron Ore leading the way
Published 25 Aug, 2015 12:00am
Nikkei tumbles

Nikkei tumbles

Japanese stocks posted their biggest fall in more than two years on Monday, with the Nikkei average sinking to a 6-month low on fears of a China-led global economic slump. The Nikkei share average dropped 4.6 percent to 18,540.68, falling below its 200-da
Published 25 Aug, 2015 12:00am
European stocks lose nearly 450 billion euros in value after China rout

European stocks lose nearly 450 billion euros in value after China rout

European stocks plunged on Monday after a rout in Chinese markets, wiping hundreds of billions of euros off their value and sending one benchmark index to a seven-month low. Stock markets in Frankfurt and Paris fell 4.7 and 5.4 percent respectively. Athen
Published 25 Aug, 2015 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan stocks fell 4.8 percent to a near 3-year low on Monday, but the main index trimmed steeper losses suffered in morning trade after Taiwan said it is "aggressively evaluating" the possibility for a large government fund to buy local equities. Vice fi
Published 25 Aug, 2015 12:00am
Hong Kong stocks fall

Hong Kong stocks fall

Hong Kong stocks fell for the seventh day in a row, with key indexes slumping more than 5 percent on Monday amid global market turbulence and deepening worries about the Chinese economy. The Hang Seng index fell 5.2 percent, to 21,251.57, while the China
Published 25 Aug, 2015 12:00am
Brutal Monday sends UK shares to lowest since 2012

Brutal Monday sends UK shares to lowest since 2012

Britain's top share index slumped to its lowest level in almost three years on Monday, with all stocks but one in the red and miners leading the slide on growing fears of a China-led global economic slowdown. Alarm bells rang across world markets after a
Published 25 Aug, 2015 12:00am
China stocks suffer biggest one-day fall since global financial crisis

China stocks suffer biggest one-day fall since global financial crisis

Chinese stocks plunged more than 8 percent on Monday in panic selling, with flagship indexes smashing key support levels and posting their biggest one-day percentage losses since the height of the global financial crisis in 2007. The latest tumble, which
Published 25 Aug, 2015 12:00am
Rouble hits 2015 low against euro
Currency

Rouble hits 2015 low against euro

Russia's rouble fell sharply on Monday, setting a new 2015 low against the euro and approaching another against the dollar as it reacted to a plunge in Chinese markets that spooked investors world-wide and sent oil prices to new multi-year lows. There wer
Published 25 Aug, 2015 12:00am
Euro, yen jump; Aussie at 6-year low in Asia
Currency

Euro, yen jump; Aussie at 6-year low in Asia

The euro hit a 6 1/2-month high and the yen hit a 1 1/2-month high against the dollar on Monday as investors dumped risk assets and flocked to currencies often seen as safe havens on fears about a slowdown in the Chinese economy. The Australian dollar tan
Published 25 Aug, 2015 12:00am
Early trade in New York: Euro, yen soar; dollar takes a beating

Early trade in New York: Euro, yen soar; dollar takes a beating

The euro and yen climbed to a seventh-month peak against the dollar on Monday as investors, worried about the slowdown in China, reversed riskier bets in so-called "carry trades" and bought back the low-interest rate currencies used to fund those assets.
Published 25 Aug, 2015 12:00am
Euro, yen surge; dollar takes a hit in Europe
Currency

Euro, yen surge; dollar takes a hit in Europe

The euro hit a 6 1/2-month high and the yen reached a three-month peak against the dollar on Monday as investors dumped riskier assets and flocked to currencies seen as safe havens on fears about a slowdown in the Chinese and global economies. The dollar
Published 25 Aug, 2015 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (Previous 05.30-06.50 percent).
Published 25 Aug, 2015 12:00am
Asia FX caught in risk asset bloodbath
Currency

Asia FX caught in risk asset bloodbath

Emerging Asian currencies fell to their lowest in years on Monday as a rout in Chinese stocks accelerated a flight from risky assets on intensifying fears of slowing global growth. The Malaysian ringgit hit a fresh pre-peg 17-year trough after Switzerland
Published 25 Aug, 2015 12:00am
Sri Lankan rupee weakens
Currency

Sri Lankan rupee weakens

The Sri Lankan rupee ended weaker on Monday for the second straight session after a state-run bank, through which the central bank usually directs the market, raised the currency's peg against the dollar by 10 cents, allowing the exchange rate to deprecia
Published 25 Aug, 2015 12:00am
China's yuan dips
Currency

China's yuan dips

China's yuan weakened against the dollar on Monday, pulled down by a collapsing stock market, but losses were capped by a stable central bank midpoint, traders said. China's major stock indexes tumbled more than 8 percent on Monday morning, with traders s
Published 25 Aug, 2015 12:00am
Sterling slumps against euro
Currency

Sterling slumps against euro

Sterling hit a one-month low against a basket of currencies on Monday and suffered its most volatile day against the euro for six years after a plunge in global stocks cooled expectations that the Bank of England will lift interest rates any time soon. An
Published 25 Aug, 2015 12:00am
Aussie, New Zealand dollar stung by China worries
Currency

Aussie, New Zealand dollar stung by China worries

The Australian and New Zealand dollars dropped to two-year lows against the yen as worries about the Chinese economy sent investors rushing to safe haven assets. Worries about a slowing Chinese economy flared up on Friday after a survey showed a further d
Published 25 Aug, 2015 12:00am
Serena captures second straight Cincinnati title

Serena captures second straight Cincinnati title

Serena Williams continued to work her way up the list of WTA tennis legends, winning her 69th career title with a straight-set win over Simona Halep at the WTA Cincinnati tournament. The world number one claimed her second straight Cincinnati trophy and m
Published 25 Aug, 2015 12:00am
Use of pink cricket ball under consideration

Use of pink cricket ball under consideration

President International Cricket Council Zaheer Abbas on Monday said that use of pink cricket ball was actively under consideration and hopefully it will be used in cricket matches. Talking to Business Recorder at Sialkot Chamber of Commerce and Ind
Published 25 Aug, 2015 12:00am
Tearful Sangakkara offered diplomatic post

Tearful Sangakkara offered diplomatic post

Sri Lanka's Kumar Sangakkara said a tearful farewell to international cricket Monday and was immediately offered the post of the island's top envoy in Britain, where he plays county cricket. Several thousand cheering fans, many of them schoolchildren wavi
Published 25 Aug, 2015 12:00am
India level series

India level series

Off-spinner Ravichandran Ashwin caused a dramatic Sri Lanka collapse as India completed a crushing 278-run victory in the second Test in Colombo on Monday to level the three-match series. Ashwin grabbed five for 42 as Sri Lanka, set an improbable victory
Published 25 Aug, 2015 12:00am
ICC cannot revive Indo-Pak cricket ties, says Zaheer

ICC cannot revive Indo-Pak cricket ties, says Zaheer

Zaheer Abbas, the president of cricket's governing body, said Monday his organisation could not intervene to revive regular matches between India and Pakistan after the two countries cancelled high-level talks last weekend. The arch-rivals were tentativel
Published 25 Aug, 2015 12:00am
England rest Root for Australia T20 and ODIs

England rest Root for Australia T20 and ODIs

England have rested Ashes-winner Joe Root, with the star batsman left out of the squads for both the upcoming lone Twenty20 international and five one-day internationals against Australia announced Monday. Root, the Ashes player of the series after his 46
Published 25 Aug, 2015 12:00am
England fined for slow over-rate

England fined for slow over-rate

As many pundits and cricket lovers bemoaned the speed of an Ashes series completed in just 18 days, England found themselves fined on Monday for a slow over-rate in the fifth and final Test at The Oval. International Cricket Council match referee Jeff Cro
Published 25 Aug, 2015 12:00am
Wawrinka rant earns Kyrgios suspended ban, fine

Wawrinka rant earns Kyrgios suspended ban, fine

Australia's tennis badboy Nick Kyrgios was on Monday handed a suspended ban and fine by the ATP for his lurid verbal attack on Stan Wawrinka at the Rogers Cup in Montreal. In a statement the ATP found 20-year-old Kyrgios guilty of "aggravated behaviour" a
Published 25 Aug, 2015 12:00am
Former AJK PM to hold 'Million March'

Former AJK PM to hold 'Million March'

Former Prime Minister of Azad Jammu and Kashmir, Barrister Sultan Mehmood Chaudhry has announced to hold a 'million march' in front of the United Nations' building on October 25, demanding the international community's due role in resolving Kashmir issue
Published 25 Aug, 2015 12:00am
Peace in region linked to greater stability in Fata

Peace in region linked to greater stability in Fata

Khyber Pakhtunkhwa governor Sardar Mahtab Ahmad Khan on Monday has said that the prosperity of Pakistan and peace of the whole region is linked with the sustainable peace and stability in Federal Administered Tribal areas.
Published 25 Aug, 2015 12:00am
Federal Lodges, hostels occupied by private people, NA body told

Federal Lodges, hostels occupied by private people, NA body told

Federal Lodges and other government hostels have been occupied by private people while no space is available for the government officials in the hostels, who are visiting the federal capital on official assignments. This was revealed in the National Assem
Published 25 Aug, 2015 12:00am
Scheme to legalise undisclosed assets being examined

Scheme to legalise undisclosed assets being examined

The Federal Board of Revenue (FBR) is examining a proposed scheme to legalize undisclosed assets on nominal payment of 3 percent or more by traders. Sources told Business Recorder on Monday that the scheme is under consideration; however the percen
Published 25 Aug, 2015 12:00am
Two Pakistani mathematicians awarded gold medals

Two Pakistani mathematicians awarded gold medals

Two Pakistani Mathematicians Dr SM Yusuf and Professor Dr Bashir Ahmad Saleemi awarded gold medals in concluding session of three day International Pure Mathematics Conference (IPMC) held at Islamabad. The conference was jointly organised by the Islamia U
Published 25 Aug, 2015 12:00am
First edition of Pakistan Show Houston concludes successfully

First edition of Pakistan Show Houston concludes successfully

The first edition of Pakistan Show Houston, USA completed successfully yesterday under the aegis of Rawalpindi Chamber of Commerce and Industry (RCCI). Mere words have no wounds and RCCI adopt that policy by taking a constructive step to arrange the exhib
Published 25 Aug, 2015 12:00am
'Major step' toward universal flu vaccine

'Major step' toward universal flu vaccine

Scientists have taken a major step towards creating a vaccine that works against multiple strains of influenza, according to two studies published Monday in top journals. A "universal vaccine" is the holy grail of immunisation efforts against the flu, a s
Published 25 Aug, 2015 12:00am
Erdogan set to call snap polls for November 1

Erdogan set to call snap polls for November 1

Turkish President Recep Tayyip Erdogan was on Monday expected to call snap polls likely to be held on November 1 after efforts to form a coalition government failed. Erdogan was meeting with parliament speaker Ismet Yilmaz at his presidential palace to ma
Published 25 Aug, 2015 12:00am
Nigeria launches probe into military purchases

Nigeria launches probe into military purchases

Nigerian President Muhammadu Buhari announced an investigation Monday into the procurement of weapons and equipment for the military over the past eight years, as part of a crackdown on corruption. His spokesman Femi Adesina said in a statement national s
Published 25 Aug, 2015 12:00am
Nato helps Afghans fighting to prevent Taliban taking Helmand town

Nato helps Afghans fighting to prevent Taliban taking Helmand town

US forces are back helping Afghan troops repel Taliban insurgents from the strategic opium-growing town of Musa Qala in Helmand province, where in 2007 British and US soldiers waged one of the emblematic battles of the war. US aircraft carried out three s
Published 25 Aug, 2015 12:00am
British airshow crash toll could hit 20

British airshow crash toll could hit 20

The final death toll from a jet crash at a British airshow could rise to 20 but the lifting of the plane has revealed no evidence of further victims, police said Monday. Eleven people are so far thought to have been killed in the crash on Saturday, when a
Published 25 Aug, 2015 12:00am
UK says Iran sanctions could be lifted next spring

UK says Iran sanctions could be lifted next spring

International sanctions on Iran could start to be lifted as early as spring next year, Britain's foreign minister said on Monday, as Tehran and the West rebuild their ties and potentially open up billions of dollars of trade deals. Six world powers agreed
Published 25 Aug, 2015 12:00am
Finland says without Britain there is no EU
Currency

Finland says without Britain there is no EU

Without Britain, there is no European Union, Finland's finance minister said on Monday in a boost for his British counterpart George Osborne as he toured Scandinavia to drum up support for London's push to reform the 28-nation bloc. Prime Minister David C
Published 25 Aug, 2015 12:00am
France honours heroes for train attack 'courage'

France honours heroes for train attack 'courage'

President Francois Hollande on Monday bestowed France's highest honour on a group of Americans and a Briton who overpowered a Moroccan gunman on a crowded train, saying the whole world "admires their courage and cool composure". Anti-terror investigators
Published 25 Aug, 2015 12:00am
At least eight dead in Turkey floods

At least eight dead in Turkey floods

At least eight people were killed and two more missing on Monday in flooding in Turkey's northeastern Black Sea province of Artvin, officials said. Artvin governor Kemal Cirit was quoted as saying by the DHA news agency that at least three of those deaths
Published 25 Aug, 2015 12:00am
Rebel rockets kill 14 civilians in Yemen city: medics

Rebel rockets kill 14 civilians in Yemen city: medics

Iran-backed rebels in Yemen fired rockets into a residential district of Taez, killing 14 civilians, mostly women and children, officials said Monday, as battles raged for control of the key city. The bodies of those killed, including seven women and four
Published 25 Aug, 2015 12:00am
Gaza strike shuts first day of school for more than 200,000

Gaza strike shuts first day of school for more than 200,000

A strike by teachers and personnel in Gaza kept more than 200,000 children from returning to school for the new term Monday, as the UN agency that employs them struggles financially. Several thousand teachers, assistants and administrative personnel prote
Published 25 Aug, 2015 12:00am
Two suicides may be linked to Ashley Madison hack

Two suicides may be linked to Ashley Madison hack

Two possible suicides may be linked to the hacking of adultery website Ashley Madison and the release of its membership data, Canadian police said Monday. "As of this morning we have two unconfirmed reports of suicides associated to the leak of Ashley Mad
Published 25 Aug, 2015 12:00am
Israel has 'right' to settle in West Bank: president

Israel has 'right' to settle in West Bank: president

President Reuven Rivlin said during talks with settler leaders on Monday that Israel had a "right" to build settlements in the occupied West Bank, his office said in a statement. "I love the land of Israel with all my heart. I have never and will never gi
Published 25 Aug, 2015 12:00am
North, South Korea agree to defuse crisis

North, South Korea agree to defuse crisis

North and South Korea wrapped up marathon talks Tuesday with an agreement aimed at defusing a crisis that had pushed the two rivals to the brink of armed conflict. The South's lead negotiator, National Security Adviser Kim Kwan-Jin, said the North had agr
Published 25 Aug, 2015 12:00am
Merkel, Hollande urge unified EU response to refugee crisis

Merkel, Hollande urge unified EU response to refugee crisis

Chancellor Angela Merkel and French President Francois Hollande called Monday for a unified response to Europe's biggest migrant crisis since World War II, as the German leader condemned "vile" protests against refugees. "We must put in place a unified sy
Published 25 Aug, 2015 12:00am
IS blows up Palmyra temple in 'new war crime'

IS blows up Palmyra temple in 'new war crime'

The Islamic State group has blown up a famed temple in Syria's ancient Palmyra, in an act the UN condemned as a war crime and an "immense loss" for humanity. The destruction of the Baal Shamin temple, considered the second-most significant in ancient Palm
Published 25 Aug, 2015 12:00am
Thinking of police: reporting room depicts real changes: KP IGP

Thinking of police: reporting room depicts real changes: KP IGP

The Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani has said that establishment of Police Reporting Room depicts the real changes in thinking, behaviour and priorities of police. This he said while presenting welcome address during
Published 25 Aug, 2015 12:00am
Government draws criticism over decline in textile exports
Cotton

Government draws criticism over decline in textile exports

A big plunge in textile exports drew a strong criticism against the PML-N government, as the industrialists on Monday called it an 'indifferent' rule to the national economy. Pakistan suffered a 16.90 percent fall in the overall exports and 12 percent in
Published 25 Aug, 2015 12:00am
WAPDA, PEPCO Promotion exams postponed

WAPDA, PEPCO Promotion exams postponed

The Departmental Promotion Examinations of different categories in the Water and Power Development and the Pakistan Electric Power Company for promotions in BPS 17, 18 and 19, scheduled to be held between August 25 and 27 have been postponed. The examinat
Published 25 Aug, 2015 12:00am
Nawaz to leave for Astana today

Nawaz to leave for Astana today

Prime Minister Nawaz Sharif will embark on a two-day official visit to Republic of Kazakhstan today (Tuesday) to hold talks with leadership of Kazakhstan on bilateral relations as well as regional and international issues of mutual interest. According to
Published 25 Aug, 2015 12:00am
Two killed in road accident

Two killed in road accident

Two people including a woman were killed and 20 others sustained injuries when a passenger bus over turned at Indus Highway here on Monday morning. According to police sources, the passenger bus was on its way when it over turned due to over speeding, kil
Published 25 Aug, 2015 12:00am
Habib Metro Bank posts Rs 7.6 billion profit

Habib Metro Bank posts Rs 7.6 billion profit

Habib Metropolitan Bank posted a profit-before tax of Rs 7.6 billion for the first half of 2015, registering a year-on-year profitability boost of 147 percent. The Bank achieved broad-based organic growth, with its low cost resource mobilisation, shift in
Published 25 Aug, 2015 12:00am
Habib Metro Bank posts Rs 7.6 billion profit

Habib Metro Bank posts Rs 7.6 billion profit

Habib Metropolitan Bank posted a profit-before tax of Rs 7.6 billion for the first half of 2015, registering a year-on-year profitability boost of 147 percent. The Bank achieved broad-based organic growth, with its low cost resource mobilisation, shift in
Published 25 Aug, 2015 12:00am
Loadshedding burden shifted to rural areas

Loadshedding burden shifted to rural areas

The government has reportedly shifted load shedding burden to rural areas to show Islamabad residents that there is no unscheduled load shedding in the country. Informed sources told Business Recorder that the shortfall on Monday was around 5000 MW
Published 25 Aug, 2015 12:00am
UK Commander Land Forces calls on CoAS

UK Commander Land Forces calls on CoAS

Commander UK Land Forces Lieutenant General James Rupert Everard visited the General Headquarters and called on Chief of Army Staff (CoAS) General Raheel Sharif here on Monday. According to a press release issued by Inter-Services Public Relations (ISPR),
Published 25 Aug, 2015 12:00am
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