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Print - 2015-08-28
New trade policy to give quantum jump to exports: Rana

New trade policy to give quantum jump to exports: Rana

New Trade Policy is at the anvil to give a quantum jump to the exports from $24 billion to $35 billion within a period of next three years. In this connection the problems confronted by the exporters would be resolved on top priority basis in addition to
Published 28 Aug, 2015 12:00am
CJP urged to take notice of threats to ET judges

CJP urged to take notice of threats to ET judges

Pakistan Tehreek-e-Insaf Punjab organiser Chaudhary Sarwar has urged the Chief Justice of Pakistan to take notice of threats being given by governing party ministers to the election tribunal judges. He also urged political parties to join hands with his p
Published 28 Aug, 2015 12:00am
FCCI elections: six candidates of corporate class nominated unopposed

FCCI elections: six candidates of corporate class nominated unopposed

Six candidates of corporate class were nominated unopposed against six seats for the elections 2015-2016 of Faisalabad Chamber of commerce and Industry. Out of total 13 vacant seats, 21 nomination papers were filed on Thursday. The six papers against six
Published 28 Aug, 2015 12:00am
Three terrorists killed in Bolan

Three terrorists killed in Bolan

At least three suspected terrorists were killed while they were busy in planting an explosive device at railway track here on Thursday. According to Levies sources, the terrorists were planting explosive device for blowing up railway track in Bala Nari ar
Published 28 Aug, 2015 12:00am
Article 6 has become 'redundant': Senate chairman

Article 6 has become 'redundant': Senate chairman

Chairman Senate Raza Rabbani on Thursday said that Article 6 that declares subversion or abrogation of the Constitution an act of high treason has become 'redundant', putting a big question mark on the existence of parliament and democracy. Rabbani, the p
Published 28 Aug, 2015 12:00am
LTBA holds seminar on filing of tax returns

LTBA holds seminar on filing of tax returns

Lahore Tax Bar Association has arranged a seminar on income tax returns at the Tax House Lahore. Former president Munir Hussain delivered his lecture explaining the solutions of issues in the filing of tax returns while Farhan Shahzad, former general secr
Published 28 Aug, 2015 12:00am
Minister reviews Knowledge Park project

Minister reviews Knowledge Park project

Provincial Minister for Education Rana Mashhood Ahmed Khan has said that Lahore knowledge park will prove to be a centre of knowledge in the entire region. He said that there will be five state of the art universities, schools, training centres and reside
Published 28 Aug, 2015 12:00am
Flood situation normalises in Sindh

Flood situation normalises in Sindh

The countrywide flood situation has normalised as the river Indus has come down from very high flood level to medium flood stage with outflow of 4,40,000 cusecs of water into the Indus delta, while at Guddu & Sukkur is in Low flood level. Meanwhile the Me
Published 28 Aug, 2015 12:00am
Tax on rental services: some questions, concerns

Tax on rental services: some questions, concerns

Equitable taxation demands that all incomes should be taxed irrespective of the sector from which they are earned. True, many sectors are yet to be brought into tax net of the country. It is also a fact that tax on "rental of real estate" has been tapped
Published 28 Aug, 2015 12:00am
10 years after Katrina: optimism amid lingering signs of trauma

10 years after Katrina: optimism amid lingering signs of trauma

When Hurricane Katrina hit New Orleans, around 1,300 died and 80 percent of the city was flooded. The scars are still visible, but a decade on the city is doing better than many expected. New Orleans (dpa) - The signs of the storm are still visible high u
Published 28 Aug, 2015 12:00am
Rouhani faces pressure for release of Iran's political prisoners

Rouhani faces pressure for release of Iran's political prisoners

Having struck a historic nuclear deal to end decades of enmity between Iran and the West, President Hassan Rouhani faces a fresh challenge at home, to win the release of leading political prisoners whose case has polarised the Islamic Republic. Former pre
Published 28 Aug, 2015 12:00am
New tax model

New tax model

Unlike many other countries of the world, Pakistan's apex revenue authority, Federal Board of Revenue (FBR), has never bothered to launch well-designed Voluntary Tax Compliance Programmes backed by strict enforcement actions against defiant citizens. Resu
Published 28 Aug, 2015 12:00am
Code of Conduct for the media

Code of Conduct for the media

Following the Supreme Court's direction, the Ministry of Information and Broadcasting issued a new code of conduct on Friday, amending the Pakistan Media Regulatory Authority (Pemra) Rules, 2009. The new code raises more concerns and confusion than addres
Published 28 Aug, 2015 12:00am
KE holds the key to Karachi's solution

KE holds the key to Karachi's solution

We are happy that Karachi Electric (KE) - the sole supplier of electricity to Karachi city of teeming millions has finally agreed to renegotiate the Power Purchase Agreement (PPA) with the Central Power Purchasing Agency (CPPA) for purchase of electricity
Published 28 Aug, 2015 12:00am
PIA sell-off must not be carried out under political influence: chairman

PIA sell-off must not be carried out under political influence: chairman

Naseer N. S. Jaffer, Chairman Pakistan International Airline (PIA), has said that if privatisation of the national flag carrier is decided, it should be done without any political influence. Speaking at a press briefing along with Shahnawaz Rehman, Managi
Published 28 Aug, 2015 12:00am
Minister underscores need to improve Abiyana recovery

Minister underscores need to improve Abiyana recovery

Provincial Minister for Irrigation and Punjab Irrigation and Drainage Authority (PIDA) Chairman Mian Yawar Zaman has said there is a need to improve Abiyana recovery for the rehabilitation and look after of canal structure and that farming organisations w
Published 28 Aug, 2015 12:00am
Chitrali students: KP Governor waives off admission fee

Chitrali students: KP Governor waives off admission fee

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has asked all the public sector universities of the KP for waiving off the admission fee of the students belonging to Chitral district for one academic year. The directives were issued in connection wit
Published 28 Aug, 2015 12:00am
Middle East, African states: travel advisory issued

Middle East, African states: travel advisory issued

Pakistan on Thursday advised its citizens to avoid travelling to some Middle Eastern and African countries due to internal strife and actions taken by non-state actors. "In view of the prevailing security situation in some Middle Eastern and African count
Published 28 Aug, 2015 12:00am
Platinum set to fight back

Platinum set to fight back

Platinum is expected to claw higher later in 2015 after sliding below $1,000 an ounce for the first time in more than six years, as a tightening market balance finally starts filtering through into prices. A survey of 30 analysts and traders returned an a
Published 28 Aug, 2015 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded October copper contract on the Shanghai Futures Exchange slipped just under 1 percent to 38,890 yuan ($6,071) a tonne on Thursday after a sharp rebound in Chinese equity markets helped calm investors hit by worries over the country's falte
Published 28 Aug, 2015 12:00am
Copper jumps most in two years

Copper jumps most in two years

Copper and zinc scored the biggest one-day gains in over two years on Thursday after comments by US Federal Reserve officials helped calm global markets, including hard-hit stocks in top metals consumer China. Speculators on the London Metal Exchange scra
Published 28 Aug, 2015 12:00am
Oil jumps in biggest one-day gain since 2009

Oil jumps in biggest one-day gain since 2009

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month s
Published 28 Aug, 2015 12:00am
Rubber rises

Rubber rises

Benchmark Tokyo rubber futures rose for a second day on Thursday, lifted by a softer yen and short-covering as some calm returned to the Chinese stock market after Beijing moved to ease policy this week, dealers said. The Tokyo Commodity Exchange rubber c
Published 28 Aug, 2015 12:00am
Soyabeans slide

Soyabeans slide

US soyabean prices dropped on Wednesday on concern that interest rate cuts in China may not be enough to stimulate growth in the key importer. Corn slipped on technical selling, and Chicago wheat lost ground on concerns about export competition as the dol
Published 28 Aug, 2015 12:00am
Palm oil surges
Vegetable Oil

Palm oil surges

Malaysian palm oil futures traded higher on Thursday after six sessions of losses, tracking global equity and commodities markets and as the recent selloff brought down palm prices to an attractive level for buyers. The benchmark palm oil contract for Nov
Published 28 Aug, 2015 12:00am
Raw sugar soars
Currency

Raw sugar soars

Benchmark raw sugar futures rallied the most in two years on Thursday, surging 5 percent on a recovering real currency in top-producer Brazil, rains in the country's cane belt and a broad-based commodities rally. Arabica coffee on ICE Futures US also gain
Published 28 Aug, 2015 12:00am
Gold slips in New York

Gold slips in New York

Gold slipped 2 percent on Wednesday as the dollar gained and US stocks advanced, while investors kept a close eye on China's efforts to support its economy. Gold's losses, combined with sliding copper prices, also hurt sentiment in the more industrial pre
Published 28 Aug, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (August 27, 2015) and the forecast for Friday (August 28, 2015).

Published 28 Aug, 2015 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold steadied on Thursday after suffering its biggest fall in five weeks in the prior session as stock markets recovered, but indications that a US rate hike might happen later than expected kept a floor under prices. Cheered by Wall Street's rebound, Asi
Published 28 Aug, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
Gold falls for fourth day in Europe

Gold falls for fourth day in Europe

Gold eased on Thursday after its biggest one-day drop in five weeks as upbeat US growth and jobs data drove stocks and the dollar higher, though uncertainty over the timing of a US rate rise held losses in check. Spot gold was down 0.5 percent at $1,119.3
Published 28 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 28 Aug, 2015 12:00am
US MIDDAY: soyabeans higher

US MIDDAY: soyabeans higher

US soyabean futures rose 1.5 percent on Thursday as equity markets stabilised in China, the world's top soya buyer, and on concerns about dry weather as the US Midwest growing season winds down, traders said. Corn clung to modest gains on better-than-expe
Published 28 Aug, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 28 Aug, 2015 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Gold eased on Thursday, headed for its biggest weekly rout since March, as upbeat US growth and jobs data drove up stocks and the dollar, though uncertainty over the timing of a US rate rise held losses in check. Spot gold was down 0.2 percent at $1,122.8
Published 28 Aug, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
ACCA Pakistan to launch new pricing structure

ACCA Pakistan to launch new pricing structure

After consultation with key stakeholders, including students, the Association of Charted Certified Accountants has announced that it will launch a new pricing structure to help people start their journey on a rewarding career in finance. Association Head
Published 28 Aug, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (August 27, 2015)

Published 28 Aug, 2015 12:00am
Lines Area Makro-Habib outlet: review petitions dismissed

Lines Area Makro-Habib outlet: review petitions dismissed

The Supreme Court Thursday dismissed identical review pleas filed against its 2009 verdict that directed Makro-Habib cash & carry to close outlet from Lines Area Karachi by restoring 4.9 acres of land - on which outlet was built - to its original status o
Published 28 Aug, 2015 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
Lines Area Makro-Habib outlet: review petitions dismissed

Lines Area Makro-Habib outlet: review petitions dismissed

The Supreme Court Thursday dismissed identical review pleas filed against its 2009 verdict that directed Makro-Habib cash & carry to close outlet from Lines Area Karachi by restoring 4.9 acres of land - on which outlet was built - to its original status o
Published 28 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
Lines Area Makro-Habib outlet: review petitions dismissed

Lines Area Makro-Habib outlet: review petitions dismissed

The Supreme Court Thursday dismissed identical review pleas filed against its 2009 verdict that directed Makro-Habib cash & carry to close outlet from Lines Area Karachi by restoring 4.9 acres of land - on which outlet was built - to its original status o
Published 28 Aug, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
Six permanent judges of SHC take oath

Six permanent judges of SHC take oath

Six permanent judges of Sindh High Court (SHC) on Thursday took oath by Chief Justice (CJ) Faisal Arab. Judges of SHC, officials of High Court Bar and Karachi Bar and senior lawyers attended the ceremony. The judges who took oath included Justice Nazar Ak
Published 28 Aug, 2015 12:00am
Six permanent judges of SHC take oath

Six permanent judges of SHC take oath

Six permanent judges of Sindh High Court (SHC) on Thursday took oath by Chief Justice (CJ) Faisal Arab. Judges of SHC, officials of High Court Bar and Karachi Bar and senior lawyers attended the ceremony. The judges who took oath included Justice Nazar Ak
Published 28 Aug, 2015 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

The rupee managed to recover modestly against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee extended overnight gains, picking up 15-paisa against the dollar for buying and selling at Rs 104.00 and Rs 104.05
Published 28 Aug, 2015 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

The rupee managed to recover modestly against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee extended overnight gains, picking up 15-paisa against the dollar for buying and selling at Rs 104.00 and Rs 104.05
Published 28 Aug, 2015 12:00am
Google rejects EU anti-trust charges as ''wrong''

Google rejects EU anti-trust charges as ''wrong''

US Internet search giant Google on Thursday rejected accusations by EU anti-trust regulators that it illegally abuses its market dominance, in its first formal reaction to allegations by Brussels earlier this year. "We believe that the statement of object
Published 28 Aug, 2015 12:00am
Google rejects EU anti-trust charges as 'wrong'

Google rejects EU anti-trust charges as 'wrong'

US Internet search giant Google on Thursday rejected accusations by EU anti-trust regulators that it illegally abuses its market dominance, in its first formal reaction to allegations by Brussels earlier this year. "We believe that the statement of object
Published 28 Aug, 2015 12:00am
Google rejects EU anti-trust charges as 'wrong'

Google rejects EU anti-trust charges as 'wrong'

US Internet search giant Google on Thursday rejected accusations by EU anti-trust regulators that it illegally abuses its market dominance, in its first formal reaction to allegations by Brussels earlier this year. "We believe that the statement of object
Published 28 Aug, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (August 27, 2015).

Published 28 Aug, 2015 12:00am
China raises heat as central bankers head to Jackson Hole
Currency

China raises heat as central bankers head to Jackson Hole

Just as they thought they could begin moving away from crisis mode, China''s turmoil has become a new threat to the world''s top central bankers. The China crisis will be an ominous cloud over the annual gathering of US and foreign central bank officials
Published 28 Aug, 2015 12:00am
China raises heat as central bankers head to Jackson Hole
Currency

China raises heat as central bankers head to Jackson Hole

Just as they thought they could begin moving away from crisis mode, China's turmoil has become a new threat to the world's top central bankers. The China crisis will be an ominous cloud over the annual gathering of US and foreign central bank officials an
Published 28 Aug, 2015 12:00am
China raises heat as central bankers head to Jackson Hole
Currency

China raises heat as central bankers head to Jackson Hole

Just as they thought they could begin moving away from crisis mode, China's turmoil has become a new threat to the world's top central bankers. The China crisis will be an ominous cloud over the annual gathering of US and foreign central bank officials an
Published 28 Aug, 2015 12:00am
Forex reserves dip by $146 million to $18.509 billion

Forex reserves dip by $146 million to $18.509 billion

The country''s total liquid foreign reserves fell by $146 million during last week due to external debt payment. According to State Bank of Pakistan (SBP), Pakistan''s total liquid foreign exchange reserves declined to $18.509 billion as on August 21, 201
Published 28 Aug, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 28 Aug, 2015 12:00am
Forex reserves dip by $146 million to $18.509 billion

Forex reserves dip by $146 million to $18.509 billion

The country's total liquid foreign reserves fell by $146 million during last week due to external debt payment. According to State Bank of Pakistan (SBP), Pakistan's total liquid foreign exchange reserves declined to $18.509 billion as on August 21, 2015
Published 28 Aug, 2015 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 28 Aug, 2015 12:00am
Forex reserves dip by $146 million to $18.509 billion

Forex reserves dip by $146 million to $18.509 billion

The country's total liquid foreign reserves fell by $146 million during last week due to external debt payment. According to State Bank of Pakistan (SBP), Pakistan's total liquid foreign exchange reserves declined to $18.509 billion as on August 21, 2015
Published 28 Aug, 2015 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 28 Aug, 2015 12:00am
IS kills two generals in Iraq, advances in Syria

IS kills two generals in Iraq, advances in Syria

A suicide attack claimed by the Islamic State group killed two Iraqi generals on Thursday in the key battleground province of Anbar, as the jihadists made gains in neighbouring Syria. IS overran large areas of Iraq in 2014 and seized Anbar capital Ramadi
Published 28 Aug, 2015 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 28 Aug, 2015 12:00am
IS kills two generals in Iraq, advances in Syria

IS kills two generals in Iraq, advances in Syria

A suicide attack claimed by the Islamic State group killed two Iraqi generals on Thursday in the key battleground province of Anbar, as the jihadists made gains in neighbouring Syria. IS overran large areas of Iraq in 2014 and seized Anbar capital Ramadi
Published 28 Aug, 2015 12:00am
SBP allows ERF for export of edible offal

SBP allows ERF for export of edible offal

The State Bank of Pakistan (SBP) on Thursday allowed export refinance facility (ERF) for export of Edible Offal of bovine animals. According to IH&SMEFD Circular Letter No 12 of 2015, issued on August 27, 2015, SBP has advised banks that Edible Offal of b
Published 28 Aug, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 28 Aug, 2015 12:00am
SBP allows ERF for export of edible offal

SBP allows ERF for export of edible offal

The State Bank of Pakistan (SBP) on Thursday allowed export refinance facility (ERF) for export of Edible Offal of bovine animals. According to IH&SMEFD Circular Letter No 12 of 2015, issued on August 27, 2015, SBP has advised banks that Edible Offal of b
Published 28 Aug, 2015 12:00am
SBP allows ERF for export of edible offal

SBP allows ERF for export of edible offal

The State Bank of Pakistan (SBP) on Thursday allowed export refinance facility (ERF) for export of Edible Offal of bovine animals. According to IH&SMEFD Circular Letter No 12 of 2015, issued on August 27, 2015, SBP has advised banks that Edible Offal of b
Published 28 Aug, 2015 12:00am
SBP allows ERF for export of edible offal

SBP allows ERF for export of edible offal

The State Bank of Pakistan (SBP) on Thursday allowed export refinance facility (ERF) for export of Edible Offal of bovine animals. According to IH&SMEFD Circular Letter No 12 of 2015, issued on August 27, 2015, SBP has advised banks that Edible Offal of b
Published 28 Aug, 2015 12:00am
SECP pays three percent prescribed fees to CCP: Senate panel told

SECP pays three percent prescribed fees to CCP: Senate panel told

The Securities and Exchange Commission of Pakistan (SECP) has duly paid the prescribed amount of 3 percent fees/charges to the Competition Commission of Pakistan (CCP). The CCP here Thursday informed the Senate Standing Committee on Finance that the SECP
Published 28 Aug, 2015 12:00am
SECP pays three percent prescribed fees to CCP: Senate panel told

SECP pays three percent prescribed fees to CCP: Senate panel told

The Securities and Exchange Commission of Pakistan (SECP) has duly paid the prescribed amount of 3 percent fees/charges to the Competition Commission of Pakistan (CCP). The CCP here Thursday informed the Senate Standing Committee on Finance that the SECP
Published 28 Aug, 2015 12:00am
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