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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-08-25
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
PTI women wing, others hold demos against India

PTI women wing, others hold demos against India

Pakistan Tehrik-e-Insaf (Women wing), Pakistan Muslim League-Nawaz and Anjuman Tajiran Gardezi Market (Gulgasht) staged demonstrations against Indian government for cancellation of holding talks on NSA and refusal to play cricket in Pakistan. They burnt t
Published 25 Aug, 2015 12:00am
ET member defends delay in announcement

ET member defends delay in announcement

Election tribunal member Kazim Ali Malik on Monday said the delay in announcement of a court decision following a petition by Imran Khan was done only to avoid the leakage of verdict. He said analysts' criticism about delay was not conversant to the court
Published 25 Aug, 2015 12:00am
Leading exporters to meet PM anytime soon: FPCCI

Leading exporters to meet PM anytime soon: FPCCI

A high-level meeting of leading exporters will be arranged with Prime Minister Nawaz Sharif anytime soon to discuss and resolve export-related issues, disclosed Mian Muhammad Adrees, President Federation of Pakistan Chambers of Commerce & Industry (FPCCI)
Published 25 Aug, 2015 12:00am
Austrian delegation visits UVAS

Austrian delegation visits UVAS

A delegation from Austria visited University of Veterinary and Animal Sciences (UVAS) and met Vice Chancellor Professor Doctor Talat Naseer Pasha here on Monday. Austrian delegation included Professor Dr Michael Hess from University of Veterinary Medicine
Published 25 Aug, 2015 12:00am
Two alleged killers held in Muzaffargargh

Two alleged killers held in Muzaffargargh

Muzaffargargh police have traced a murder case of a candidate of Nazim Dilbar Khan, who was killed on June 16, 2015 following election rivalry. After two months' hectic efforts, the police arrested two alleged killers who were identified as Naeem son of A
Published 25 Aug, 2015 12:00am
Lowari Tunnel remains open for traffic on Tuesdays, Fridays

Lowari Tunnel remains open for traffic on Tuesdays, Fridays

Access through Lowari Tunnel assured by National Highway Authority for two days in a week, the tunnel will be open for general traffic on each Tuesday and Friday, decided in a high level meeting. In acquiescence to directions issued by the Chief Secretary
Published 25 Aug, 2015 12:00am
NBP clarifies details of pensioners

NBP clarifies details of pensioners

A news item that was published in various newspapers on August 19, 2015, quoting National Bank of Pakistan (NBP) on the reduction in the number of pensioners. The articles have used words of "Ghost Pensioners" which were not mentioned by NBP officials and
Published 25 Aug, 2015 12:00am
NBP clarifies details of pensioners

NBP clarifies details of pensioners

A news item that was published in various newspapers on August 19, 2015, quoting National Bank of Pakistan (NBP) on the reduction in the number of pensioners. The articles have used words of "Ghost Pensioners" which were not mentioned by NBP officials and
Published 25 Aug, 2015 12:00am
Dubai Cares, ITA run 4,028 schools in Pakistan

Dubai Cares, ITA run 4,028 schools in Pakistan

The Dubai Cares in collaboration with its national partner Idara-e-Taleem-o-Aagahi (ITA) Public Trust has reached 4,028 schools and 1,035,300 students and teachers across Pakistan to bring a qualitative change in their teaching and learning process. The e
Published 25 Aug, 2015 12:00am
MoC to devise strategy to actively engage with Iran
Cotton

MoC to devise strategy to actively engage with Iran

A meeting was held in the Ministry of Commerce (MoC) to devise strategy to actively engage with Iran, as there is a possibility of lifting sanctions against the country. The meeting was attended by officials from Federal Board of Revenue, State Bank of Pa
Published 25 Aug, 2015 12:00am
NAB, FIA raid Civic Center to probe 'China cutting' deals

NAB, FIA raid Civic Center to probe 'China cutting' deals

The National Accountability Bureau (NAB) on Monday together with the Federal Investigation Agency (FIA) raided the Land Department at Karachi's Civic Centre and sought the record of lands. Officials of NAB and FIA's Counter-Terrorism Wing raided the KMC L
Published 25 Aug, 2015 12:00am
IHC issues bailable arrest warrants for DG FDE

IHC issues bailable arrest warrants for DG FDE

Islamabad High Court (IHC) on Monday issued bailable arrest warrant to the director general federal directorate of education (FDE) for not appearing before the court. IHC Justice Noor-ul-Haq N Qureshi issued the arrest warrants to FDE chief on hearing a p
Published 25 Aug, 2015 12:00am
SHC issues arrest warrants for SP Keamari

SHC issues arrest warrants for SP Keamari

The Sindh High Court (SHC) on Monday issued arrest warrants for Superintendent Police Keamari Altaf Hussain Laghari for not appearing before the court despite several notices. Laghari did not appear before the court despite receiving several court notices
Published 25 Aug, 2015 12:00am
Japanese delegation visits CDC

Japanese delegation visits CDC

A delegation from the Consulate General of Japan in Karachi and Pakistan Japan Business Forum visited the premises of the Central Depository Company (CDC) of Pakistan. The delegation was headed by Japanese Consul General to Karachi Akira Ouchi. Several me
Published 25 Aug, 2015 12:00am
G2G LNG deal to be inked in October: Khaqan

G2G LNG deal to be inked in October: Khaqan

Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi Monday said Pakistan and Qatar will ink government to government (G2G) deal on Liquefied Natural Gas (LNG) in the first week of the October 2015. Talking to Business Recorder </i
Published 25 Aug, 2015 12:00am
PPAF-aided programme to change fate of Soon Valley

PPAF-aided programme to change fate of Soon Valley

Soon Valley Development Programme (SVDP) in collaboration with Pakistan Poverty Alleviation Fund (PPAF) will change the fate of the area through microfinance services to the poor and disadvantaged communities for ending their plight, in key areas particul
Published 25 Aug, 2015 12:00am
New Aviation policy to bring country at par with global standards

New Aviation policy to bring country at par with global standards

New Aviation policy 2015 aims at creating local job opportunities, boost exports and revenue generation for bringing Pakistan at par with international aviation standards. Pakistan Civil Aviation Authority (PCAA) will earn revenue either in shape of annua
Published 25 Aug, 2015 12:00am
JS Bank hosts dinner for Larkana college cadets

JS Bank hosts dinner for Larkana college cadets

JS Bank hosted a dinner for delegates of Cadet College Larkana. The participants at the dinner included JS Bank employees and the delegates of Cadet College Larkana. During the event, Director JS Bank, Kalim-ur-Rahman welcomed all the guests and gave an o
Published 25 Aug, 2015 12:00am
LNG policy: government urged to investigate 'conspiracies'

LNG policy: government urged to investigate 'conspiracies'

Pakistan Businessmen and Intellectuals Forum President and former provincial minister Mian Zahid Hussain has said that the government must form a commission to probe into conspiracies against its revolutionary LNG policy. Speaking to the business communit
Published 25 Aug, 2015 12:00am
8 sites for setting up agro-business centres along CPEC identified

8 sites for setting up agro-business centres along CPEC identified

Chairman, Standing Committee on Horticulture and Food Exports, Federation of Pakistan Chambers of Commerce & Industry (FPCCI), (FPCCI) Ahmad Jawad, has said that there is tremendous potential for development of an agro-based industry along the China-Pakis
Published 25 Aug, 2015 12:00am
FBR bids farewell to officers

FBR bids farewell to officers

A meeting of the Board-in-Council was held on Monday in FBR House. The meeting was chaired by Tariq Bajwa, Chairman, FBR and attended by Members of the Board. In line with the new tradition introduced by Chairman, FBR, the following officers recently reti
Published 25 Aug, 2015 12:00am
Delegation of US consulate Karachi meets SU VC

Delegation of US consulate Karachi meets SU VC

A delegation of US consulate at Karachi, headed by Saif Jiskani held meeting with the Vice Chancellor University of Sindh Professor Dr Abida Taherani here on Monday and discussed the education opportunities and scholarships being offered by USA for Pakist
Published 25 Aug, 2015 12:00am
IG Prisons' car attacked

IG Prisons' car attacked

Two unidentified motorcyclists opened fire on the official car of Inspector General (IG) Prisons, Sindh, on Monday at Lyari Expressway, however, no loss of life was reported in this incident. According to police sources, the vehicle came under attack when
Published 25 Aug, 2015 12:00am
POL's Makori gas facility shuts down

POL's Makori gas facility shuts down

The Makori Gas Processing Facility (MGPF) of Pakistan Oilfields Limited (POL) has shut down because of what the company said a technical issue. The facility, the POL quoted its Tal Block operators as saying in a stock filing on Monday, was catering 150 mi
Published 25 Aug, 2015 12:00am
SSGC clarification

SSGC clarification

Apropos the news item "Site industrial area facing gas supply crisis", published in Business Recorder on August 22, 2015, the SSGC categorically dispels the impression created by M Jawed Bilwani, President, SITE Association of Industry (SAI), that
Published 25 Aug, 2015 12:00am
Shell awards free fuel to winners

Shell awards free fuel to winners

Sixteen people across the country won free fuel for a month by participating in Shell Pakistan's Fuel Efficiency campaign. Shell is encouraging customers who purchase Shell Super Unleaded to pledge to be more fuel efficient. Upon making the pledge, custom
Published 25 Aug, 2015 12:00am
Senate body to conduct inquiry into scandal of fake pensioners

Senate body to conduct inquiry into scandal of fake pensioners

Responding to the public complaints, Senate Standing Committee on Finance and Revenue has decided to conduct an inquiry into ghost pensioners' scandal in the federal and provincial governments' departments dealing directly or indirectly with the pension m
Published 25 Aug, 2015 12:00am
Qaim inaugurates Command & Control Centre at CM House

Qaim inaugurates Command & Control Centre at CM House

Sindh Chief Minister Syed Qaim Ali Shah inaugurated a Command & Control Centre established at a cost of Rs 120 million at the CM House, here on Monday. Speaking on this occasion, he said that the Command and Control Centre helps to detect criminal activit
Published 25 Aug, 2015 12:00am
Sindh minister urges MQM not to boycott LG polls

Sindh minister urges MQM not to boycott LG polls

Sindh Minister for Local Bodies, Syed Nasir Shah has said that the MQM should not boycott local bodies' elections as it did earlier, adding that he hopes the Muttahida leadership would not repeat the same mistake which it did during the Musharraf era. He
Published 25 Aug, 2015 12:00am
NAB arrests accused in Modaraba case

NAB arrests accused in Modaraba case

National Accountability Bureau Karachi has arrested accused Shah Rafiuddin in Modaraba case here on Monday. The accused who was chief agent of Sun Land Crops Care Pvt Ltd, deceived a large group of innocent people from Manshera, Abbottabad and adjoining a
Published 25 Aug, 2015 12:00am
NAB KP recovers 5kg of gold from Masoom Shah
Currency

NAB KP recovers 5kg of gold from Masoom Shah

National Accountability Bureau (NAB) Khyber Pakhtunkhwa recovered 5kg gold from the residence of former special assistant to KP chief minister, Masoom Shah. NAB arrested accused Masoom Shah on the allegation of corruption and accumulation of assets beyond
Published 25 Aug, 2015 12:00am
Pre-admission notice to PAF authorities issued

Pre-admission notice to PAF authorities issued

Islamabad High Court (IHC) on Monday issued pre-admission notice to the authorities of Pakistan Air Force (PAF) on a petition seeking release of salary of a detained airman. The detained airman, Corporal Technician Mohammad Irfan is charged with embezzlin
Published 25 Aug, 2015 12:00am
Mining scam: Ziaullah Afridi released on bail

Mining scam: Ziaullah Afridi released on bail

Peshawar High Court accepted on Monday the petition of former Khyber-Pakhtunkhwa (KP) minister for mines and mineral development, Ziaullah Afridi and ordered his release on bail in the mining scam. A two-judge bench comprising Justice Musarat Hilali and M
Published 25 Aug, 2015 12:00am
US scientists upbeat about developing CLCuV-resistant crop
Cotton

US scientists upbeat about developing CLCuV-resistant crop

US agri scientists are pessimistic about total eradication of the Cotton Leaf Curl Virus (CLCuV) from Pakistan; however they are optimistic of controlling the menace by developing the virus-resistant crop to mitigate huge losses. Quoting Pakistani scienti
Published 25 Aug, 2015 12:00am
Expo Centre's establishment in Peshawar: KPCCI hails centre for approval

Expo Centre's establishment in Peshawar: KPCCI hails centre for approval

Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) hailed the federal government for giving approval regarding establishment of Expo centre in Peshawar. The centre will be established at cost of over Rs 2billion. For the project, seed money of Rs
Published 25 Aug, 2015 12:00am
Oracle Exadata enables ABL to cut processing time

Oracle Exadata enables ABL to cut processing time

Allied Bank Limited (ABL), one of Pakistan's leading banks, has reduced the critical close of business (COB) processing time by as much as 50 percent with the successful deployment of Oracle Exadata Database Machine. In addition, the bank has been able to
Published 25 Aug, 2015 12:00am
Shahbaz, Ahsan leave for China to discuss projects

Shahbaz, Ahsan leave for China to discuss projects

Punjab Chief Minister Shahbaz Sharif and Federal Minister for Planning, Development and Reforms Ahsan Iqbal have left for China on three-day official visit to discuss energy and China-Pakistan Economic Corridor related projects with the Chinese government
Published 25 Aug, 2015 12:00am
Supreme Court urged to repatriate its Registrar to parent department

Supreme Court urged to repatriate its Registrar to parent department

The Supreme Court was urged Monday to repatriate its Registrar Syed Tahir Shahbaz to parent department following the verdict of the apex court against deputation. Filing the plea under Article 184 (3) of the Constitution, Mehmood Akhtar Naqvi made federat
Published 25 Aug, 2015 12:00am
Bank Alfalah holds interactive session on film SHAH

Bank Alfalah holds interactive session on film SHAH

The Bank Alfalah organised an interactive session where Adnan Sarwar, the debutante actor/director of the movie SHAH shared his experience of making the movie based on the true story of Olympic Boxing Medalist Syed Hussain Shah. Bank Alfalah's Rising Tale
Published 25 Aug, 2015 12:00am
Investment in agriculture R&D a must to ensure food security: Bosan

Investment in agriculture R&D a must to ensure food security: Bosan

Investment in agriculture research and development is necessary to boost agriculture production for ensuring food security in the country, said Sikandar Hayat Bosan Federal Minister for National Food Security and Research. The minister said this while spe
Published 25 Aug, 2015 12:00am
C&W Department KP PAC takes notice of irregularities

C&W Department KP PAC takes notice of irregularities

Public Accounts Committee (PAC) of Khyber Pakhtunkhwa Assembly has taken exception to different irregularities in Communication and Works (C&W) Department and directed the recovery of Rs 34.7 million from the responsible officials. The PAC of Khyber Pakht
Published 25 Aug, 2015 12:00am
14th Textile Asia Exhibition to be held in Lahore on August 29

14th Textile Asia Exhibition to be held in Lahore on August 29

Punjab Chief Minister Shahbaz Sharif along with federal commerce minister Khurram Dastgir will inaugurate the 14th International Textile Asia Exhibition being held at Lahore Expo Centre from 29-31 August. The Pakistan Readymade Garments Manufacturers & Ex
Published 25 Aug, 2015 12:00am
Nishat Chunian Limited
Cotton

Nishat Chunian Limited

Since its inception as a single spinning unit in 1990, Nishat Chunian Ltd (NCL) has expanded and diversified into a fully vertically integrated conglomerate comprising six spinning units, one weaving unit, one dyeing and printing unit, and one stitching u
Published 25 Aug, 2015 12:00am
Nishat Chunian Limited
Cotton

Nishat Chunian Limited

Since its inception as a single spinning unit in 1990, Nishat Chunian Ltd (NCL) has expanded and diversified into a fully vertically integrated conglomerate comprising six spinning units, one weaving unit, one dyeing and printing unit, and one stitching u
Published 25 Aug, 2015 12:00am
SECP approves red chilli futures contracts on PMEX
Cotton

SECP approves red chilli futures contracts on PMEX

In an endeavour to augment the portfolio of agricultural commodities in domestic market, the Securities and Exchange Commission of Pakistan (SECP) has approved launching of Red Chilli futures contracts on Pakistan Mercantile Exchange Limited (PMEX). The P
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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