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Print - 2015-09-03
LG polls at UC-level: People voted for relatives and friends

LG polls at UC-level: People voted for relatives and friends

The non-party based local government elections at union council level in Khyber Pakhtunkhwa have reaffirmed the relevance of the Biradari system, as people voted for relatives/neighbours irrespective of their party affiliation. An anecdotal survey conduct
Published 03 Sep, 2015 12:00am
Minister discusses ongoing projects with GIZ team

Minister discusses ongoing projects with GIZ team

Minister of State for Education Engr Muhammad Baligh Ur Rehman met with the delegation of GIZ on Wednesday. Minister of State and the participants of the delegation of GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) had a very good discussio
Published 03 Sep, 2015 12:00am
Minister meets Canadian HC

Minister meets Canadian HC

Heather Cruden, Canadian High Commissioner to Pakistan called on Minister of State for IT and Telecom, Anusha Rahman at Ministry of IT and discussed matters of mutual interest with special reference to enhancing bilateral relations between the two countri
Published 03 Sep, 2015 12:00am
There's no proof of ISIS's existence: minister

There's no proof of ISIS's existence: minister

Baleeghur Rehman, State Minister for Interior and Narcotics Control, on Wednesday categorically said that there are no solid proof of Islamic State of Iraq and Syria (ISIS) or Daesh existence in Pakistan. Talking to journalists after addressing a seminar
Published 03 Sep, 2015 12:00am
Unabated overfishing scales down seafood export

Unabated overfishing scales down seafood export

Unabated overfishing continues to scale down the country's seafood catch resulting in a sharp fall in its export by over 17 percent to $17.588 million in July 2015. Pakistan continues to suffer $3.613 million loss in July - a first month of the new fiscal
Published 03 Sep, 2015 12:00am
TUV Austria certifies Kansai Paint Pakistan

TUV Austria certifies Kansai Paint Pakistan

"Kansai Paint Pakistan" has been one of the market leaders for the past 23 years in Pakistan. The prominent paint manufacturers has a modern, world class manufacturing facility in Lahore with dominant share in automotive paints business and is enjoying st
Published 03 Sep, 2015 12:00am
KP Governor commends lawyers' role in society

KP Governor commends lawyers' role in society

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmed Khan has greatly commended the role being played by the lawyer community in the society and stated that lawyers were the first professionals fighting for justice in a conflict between good and bad. He called
Published 03 Sep, 2015 12:00am
Imran to address Kissan Convention on September 5

Imran to address Kissan Convention on September 5

Pakistan Tehreek-e-Insaf Punjab Organiser Chaudhary Mohammad Sarwar has said the party's Kissan Convention will be held in Hafizabad on September 5, which will addressed by PTI Chairman Imran Khan and other central and provincial leaders. He said his part
Published 03 Sep, 2015 12:00am
Army provides protective equipment to Sindh Police

Army provides protective equipment to Sindh Police

Pakistan Army on Wednesday provided ammunition and other protective equipment worth Rs 65 million to Sindh Police on the directives of Chief of the army staff at Corps Headquarters Karachi. At the headquarters, bullet proof jackets, protective helmets and
Published 03 Sep, 2015 12:00am
Grand Baloch Jirga to be held after Eid: Prince

Grand Baloch Jirga to be held after Eid: Prince

A grand Jirga of Baloch tribal leaders would be held after Eid ul Azha for maintaining peace and tranquillity in the region, said Chief Rabita Itifaq Tehreek (BRIT) and former federal minister, Prince Mohyuddin Baloch. In a statement issued here on Wednes
Published 03 Sep, 2015 12:00am
US embassy premises: inquiry launched against tree felling

US embassy premises: inquiry launched against tree felling

The Capital Development Authority (CDA) has launched an inquiry against illegal cutting of trees in the premises of US Embassy in Islamabad for the ongoing expansion work. Ramzan Sajjid, the spokesman for the civic body said that the authority had receive
Published 03 Sep, 2015 12:00am
Government committed to early repatriation of TDPs: KP Governor

Government committed to early repatriation of TDPs: KP Governor

Governor Khyber Pakhtunkhwa Sardar Mahtab Ahmad Khan has said that the government was fully committed for the early and dignified repatriation of Temporary displaced persons (TDPs) adding that the repatriation process of TDPs from Kurram Agency and Orakza
Published 03 Sep, 2015 12:00am
Ex-DIG shot dead in Quetta

Ex-DIG shot dead in Quetta

Unidentified armed men gunned down a former Deputy Inspector General (DIG) of police here on Wednesday night. SSP Operations said that unknown miscreants sprayed bullets at vehicle of former DIG Qazi Wajid near his residence at Sariyab Road of Quetta kill
Published 03 Sep, 2015 12:00am
Tax alerts through bogus emails?

Tax alerts through bogus emails?

It has been brought to the notice of Federal Board of Revenue (FBR) that some taxpayers have received emails supposedly sent to them by offices of FBR. The emails are being sent from [email protected] which is not an official email address o
Published 03 Sep, 2015 12:00am
Olson, Imran discuss Afghan talks

Olson, Imran discuss Afghan talks

The US ambassador to Pakistan Richard Olson Wednesday called on Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan at his Bani Gala residence and discussed the peace talks between Afghan government and Taliban with him. According to media office of the PT
Published 03 Sep, 2015 12:00am
PHDEC decides to set up E-beam plants

PHDEC decides to set up E-beam plants

Pakistan Horticulture Development and Export Company (PHDEC) has decided to set up E-beam plants, establishing latest laboratories to suggest balanced use of fertiliser to enhance fruits and vegetable productions in the country. Co-operation from all the
Published 03 Sep, 2015 12:00am
PFA seizes suspect meat in Lahore

PFA seizes suspect meat in Lahore

Punjab Food Authority (PFA) under the supervision of its Director Operations Ayesha Mumtaz conducted a raid here on Wednesday at Lahore Railway Station and seized suspect meat along with vehicle and driver. "Samples of the meat have been sent to laborator
Published 03 Sep, 2015 12:00am
Tawana Pakistan project case referred to NAB for further probe

Tawana Pakistan project case referred to NAB for further probe

A parliamentary panel has referred a case regarding Tawana Pakistan Project to National Accountability Bureau (NAB) for further investigation. The audit account of Capital Administration and Development Division (devolved Ministry of Social Welfare and Sp
Published 03 Sep, 2015 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai Futures Exchange copper fell 0.5 percent to 39,010 yuan ($6,130) a tonne on Wednesday defying sour sentiment towards base metals after world factory activity slowed in August and the International Monetary Fund cut its outlook for global growth.
Published 03 Sep, 2015 12:00am
The Weather

The Weather

The weather report on Wednesday (September 02, 2015) and the forecast for Thursday (September 03, 2015).
Published 03 Sep, 2015 12:00am
Copper rebounds, tin rallies

Copper rebounds, tin rallies

Copper rose on Wednesday, reversing the previous session's slide, after Chinese equities pared losses following further government intervention and as investors grew nervous about betting down a metal trading near six-year lows. A number of brokerages in
Published 03 Sep, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
Rubber falls

Rubber falls

Benchmark Tokyo rubber futures fell 3 percent to a one-week low on Wednesday as investors unwound long positions taking cues from weaker regional stock markets and sliding oil prices amid persistent concerns over slowing growth in China, dealers said. The
Published 03 Sep, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.
Published 03 Sep, 2015 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.
Published 03 Sep, 2015 12:00am
Corn and soya futures drop on Chinese woes

Corn and soya futures drop on Chinese woes

Chicago Board of Trade corn and soyabean futures fell sharply on Tuesday on concerns that commodity purchases from China will slow as that country's economy softens, traders said. Wheat futures edged higher despite worries about the viability of US export
Published 03 Sep, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
Palm oil falls
Vegetable Oil

Palm oil falls

Malaysian palm oil futures ended lower on Wednesday after three consecutive sessions of strong gains, as a drop in commodity markets amid concerns over China's growth weighed on prices. The benchmark palm oil contract for November on the Bursa Malaysia De
Published 03 Sep, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (September 02, 2015)
Published 03 Sep, 2015 12:00am
Sugar pares gains, arabica at 1-1/2-year low
Currency

Sugar pares gains, arabica at 1-1/2-year low

Raw sugar futures on ICE pared gains in heavy volume on Wednesday, as the currency in top grower Brazil tumbled, attracting producer and fund selling, while the weak real helped push arabica coffee to a 1-1/2-year low. Cocoa futures fell along with larger
Published 03 Sep, 2015 12:00am
Gold rises in New York

Gold rises in New York

Gold rose 1 percent on Tuesday as the dollar and global equities dropped on fresh signs of economic weakness in China and uncertainty over the timing of the Federal Reserve's first interest rate increase in nearly a decade. Spot gold rose to a session hig
Published 03 Sep, 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 Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold steadied on Wednesday with appetite for the metal soured by a firmer dollar despite weaker Asian equities, and failure to breach a key resistance and a looming US rate hike suggest more downside risk. Spot gold was flat at $1,140.70 an ounce by 0624
Published 03 Sep, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
Gold eases in Europe

Gold eases in Europe

Gold eased on Wednesday as a rebound in stocks and the dollar arrested a four-day rally, with uncertainty over the timing of a looming US rate hike limiting price moves ahead key US non-farm payrolls data on Friday. The metal retreated from early highs as
Published 03 Sep, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
US MIDDAY: wheat drops on supply glut

US MIDDAY: wheat drops on supply glut

US wheat futures sank on Wednesday, weighed down by signs of abundant supplies and dim prospects for US exports, traders said. The front-month K.C. hard red winter wheat contract shed 2.8 percent and hit its lowest in more than eight years, while the most
Published 03 Sep, 2015 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Gold eased early on Wednesday as a rebound in stocks and the dollar arrested a four-day rise, with uncertainty over the timing of a looming US rate hike limiting price moves ahead of key US non-farm payrolls data on Friday. The metal retreated from early
Published 03 Sep, 2015 12:00am
'Understated budget deficit'

'Understated budget deficit'

This refers to a Business Recorder op-ed "Understated budget deficit" by Dr Hafiz A Pasha. That his argument is nothing short of a charge-sheet against the government is a fact that can be discerned from the following: "Overall, history is likely t
Published 03 Sep, 2015 12:00am
THE RUPEE: rates firm
Kerb

THE RUPEE: rates firm

The rupee extended its overnight firmness against the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee maintained its last levels in relation to the dollar for buying and selling at Rs 104.20 and Rs 104.2
Published 03 Sep, 2015 12:00am
Price of chocolate could go up as cost of cocoa rockets

Price of chocolate could go up as cost of cocoa rockets

Germany is a nation of chocolate-lovers, but they don't have to dig too deep in their pockets to feed their sweet tooth. That could change with the price of cocoa and other ingredients on the rise. Stuttgart (dpa) - The yo-yoing cost of commodities has le
Published 03 Sep, 2015 12:00am
THE RUPEE: rates firm
Kerb

THE RUPEE: rates firm

The rupee extended its overnight firmness against the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee maintained its last levels in relation to the dollar for buying and selling at Rs 104.20 and Rs 104.2
Published 03 Sep, 2015 12:00am
The nationality of a corporation in transnational business environment

The nationality of a corporation in transnational business environment

Attorneys engaged in handling transnational businesses operate in many different ways. The work relating to transitional businesses is quite complex and it requires that lawyers in this type of work must have a basic understanding of the transnational asp
Published 03 Sep, 2015 12:00am
VIEW POINT: What is going on?

VIEW POINT: What is going on?

PPP co-Chairman Asif Ali Zardari has delivered a second tirade in about as many months, this time switching the target from the military establishment to the PML-N government, telling it to stop the "politics of revenge" otherwise there could be "disastro
Published 03 Sep, 2015 12:00am
There is no going back

There is no going back

Uncharacteristic of Asif Ali Zardari, his broadside against Prime Minister Nawaz Sharif fired this past Monday couldn't be more lethal. Not only has he accused Nawaz Sharif of being ungrateful to the PPP for the help it rendered to the PML (N) to form the
Published 03 Sep, 2015 12:00am
Water management

Water management

The Federal Minister for Water and Power Khawaja Asif in a meeting with a delegation from the Commonwealth Scientific and Industrial and Research Organisation revealed that the government was in the process of preparing a water management policy - the fir
Published 03 Sep, 2015 12:00am
Cotton falls for second straight day ahead of export sales report
Cotton

Cotton falls for second straight day ahead of export sales report

ICE cotton futures fell in light volume on Wednesday, hitting three-week lows a day ahead of a weekly US government export sales report amid concerns about demand for US cotton in key consuming markets due to dollar strength. "We're going to wait until th
Published 03 Sep, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (September 02, 2015).
Published 03 Sep, 2015 12:00am
Oil turns higher as Wall Street rally offsets inventory rise

Oil turns higher as Wall Street rally offsets inventory rise

Oil prices ended nearly 2 percent higher on Wednesday in volatile trade as rallying equities on Wall Street pulled crude up from lows after futures sank on concerns about global oversupply. US stocks rose more than 1 percent in afternoon trading as techno
Published 03 Sep, 2015 12:00am
Clarification

Clarification

Hashoo Group clarified that Ocean Pakistan Limited (OPL) has not signed any Investment agreement with Chinese firm Poly-GCL. However, both the companies are deliberating for a possible strategic association, relating to bilateral investments in oil and ga
Published 03 Sep, 2015 12:00am
Clarification

Clarification

Hashoo Group clarified that Ocean Pakistan Limited (OPL) has not signed any Investment agreement with Chinese firm Poly-GCL. However, both the companies are deliberating for a possible strategic association, relating to bilateral investments in oil and ga
Published 03 Sep, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 03 Sep, 2015 12:00am
Clarification

Clarification

Hashoo Group clarified that Ocean Pakistan Limited (OPL) has not signed any Investment agreement with Chinese firm Poly-GCL. However, both the companies are deliberating for a possible strategic association, relating to bilateral investments in oil and ga
Published 03 Sep, 2015 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 03 Sep, 2015 12:00am
By-elections: Imran seeks deployment of troops

By-elections: Imran seeks deployment of troops

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Wednesday called on Chief Election Commissioner (CEC) Justice (retd) Sardar Muhammad Raza Khan, demanding deployment of army in upcoming NA-122 and NA-154 by-elections. Imran Khan who was accompanied b
Published 03 Sep, 2015 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.
Published 03 Sep, 2015 12:00am
By-elections: Imran seeks deployment of troops

By-elections: Imran seeks deployment of troops

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Wednesday called on Chief Election Commissioner (CEC) Justice (retd) Sardar Muhammad Raza Khan, demanding deployment of army in upcoming NA-122 and NA-154 by-elections. Imran Khan who was accompanied b
Published 03 Sep, 2015 12:00am
Excess tax deduction: big manufacturers facing liquidity crunch

Excess tax deduction: big manufacturers facing liquidity crunch

Deduction of excess tax under Section 8B of the Sales Tax Act 1990 by the Federal Board of Revenue (FBR) is putting large manufacturing units into severe liquidity crunch; it is learnt on Wednesday. According to sources, 10 percent minimum value addition
Published 03 Sep, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 03 Sep, 2015 12:00am
Excess tax deduction: big manufacturers facing liquidity crunch

Excess tax deduction: big manufacturers facing liquidity crunch

Deduction of excess tax under Section 8B of the Sales Tax Act 1990 by the Federal Board of Revenue (FBR) is putting large manufacturing units into severe liquidity crunch; it is learnt on Wednesday. According to sources, 10 percent minimum value addition
Published 03 Sep, 2015 12:00am
Excess tax deduction: big manufacturers facing liquidity crunch

Excess tax deduction: big manufacturers facing liquidity crunch

Deduction of excess tax under Section 8B of the Sales Tax Act 1990 by the Federal Board of Revenue (FBR) is putting large manufacturing units into severe liquidity crunch; it is learnt on Wednesday. According to sources, 10 percent minimum value addition
Published 03 Sep, 2015 12:00am
SSGC MD''s statement: clarification

SSGC MD''s statement: clarification

This is apropos to press reports in yesterday''s dailies regarding a briefing given by Khalid Rahman, MD, SSGC, to the National Assembly Standing Committee for Petroleum and Natural Resources. "At the outset, SSGC would like to state that the contents of
Published 03 Sep, 2015 12:00am
SSGC MD's statement: clarification

SSGC MD's statement: clarification

This is apropos to press reports in yesterday's dailies regarding a briefing given by Khalid Rahman, MD, SSGC, to the National Assembly Standing Committee for Petroleum and Natural Resources. "At the outset, SSGC would like to state that the contents of M
Published 03 Sep, 2015 12:00am
SSGC MD's statement: clarification

SSGC MD's statement: clarification

This is apropos to press reports in yesterday's dailies regarding a briefing given by Khalid Rahman, MD, SSGC, to the National Assembly Standing Committee for Petroleum and Natural Resources. "At the outset, SSGC would like to state that the contents of M
Published 03 Sep, 2015 12:00am
Scotland Yard team obtains Mohsin's statement

Scotland Yard team obtains Mohsin's statement

A three-member team of Scotland Yard has completed the investigation into the Muttahida Qaumi Movement (MQM) leader Dr Imran Farooq's murder case in Pakistan. Sources said the Scotland Yard team comprising Stuart Michael Greenaway, David Jonathan Tan and
Published 03 Sep, 2015 12:00am
Scotland Yard team obtains Mohsin's statement

Scotland Yard team obtains Mohsin's statement

A three-member team of Scotland Yard has completed the investigation into the Muttahida Qaumi Movement (MQM) leader Dr Imran Farooq's murder case in Pakistan. Sources said the Scotland Yard team comprising Stuart Michael Greenaway, David Jonathan Tan and
Published 03 Sep, 2015 12:00am
More cases being prepared against me: Gilani

More cases being prepared against me: Gilani

The Islamabad High Court (IHC) on Wednesday granted former prime minister Syed Yousuf Raza Gilani a seven-day protective bail in a case registered against him by Federal Investigation Agency (FIA) for his alleged involvement in mega Trade Development Auth
Published 03 Sep, 2015 12:00am
More cases being prepared against me: Gilani

More cases being prepared against me: Gilani

The Islamabad High Court (IHC) on Wednesday granted former prime minister Syed Yousuf Raza Gilani a seven-day protective bail in a case registered against him by Federal Investigation Agency (FIA) for his alleged involvement in mega Trade Development Auth
Published 03 Sep, 2015 12:00am
Naheed Khan asked Benazir to come out of car: driver

Naheed Khan asked Benazir to come out of car: driver

An Anti-Terrorism Court (ATC) on Wednesday recorded the statement of driver, Javedur Rehman in the Benazir Bhutto murder case. He said that Naheed Khan asked the PPP chairperson to come out of the car. The ATC summoned a report from the Foreign Ministry r
Published 03 Sep, 2015 12:00am
Naheed Khan asked Benazir to come out of car: driver

Naheed Khan asked Benazir to come out of car: driver

An Anti-Terrorism Court (ATC) on Wednesday recorded the statement of driver, Javedur Rehman in the Benazir Bhutto murder case. He said that Naheed Khan asked the PPP chairperson to come out of the car. The ATC summoned a report from the Foreign Ministry r
Published 03 Sep, 2015 12:00am
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