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Print - 2015-11-13
Wheat crop: farmers asked to complete sowing this month
Cotton

Wheat crop: farmers asked to complete sowing this month

The Met Office has asked the farmers of irrigated parts of Punjab, Sindh and Khyber Pakhtunkhwa to complete sowing of wheat crop during November. It said that the farmers in case of delay in sowing may attain different verities and sow them during Decembe
Published 13 Nov, 2015 12:00am
PSM's explanation: rejoinder by SSGC

PSM's explanation: rejoinder by SSGC

This is with reference to a Business Recorder news item titled 'PSM explains criticality of gas supply' that appeared in your esteemed newspaper on page No 8 on November 11, 2015. "At the outset SSGC would like to clarify that in contrary to Rs 60
Published 13 Nov, 2015 12:00am
Six alleged terrorists killed in encounter

Six alleged terrorists killed in encounter

Police on Thursday claimed to have killed six terrorists associated with a banned organisation during an encounter that took place near Filter Plant, Orangi Town. Two policemen also sustained bullet injuries during the course of action. According to polic
Published 13 Nov, 2015 12:00am
Local steel products: ABAD urges CCP to take notice of cartelization

Local steel products: ABAD urges CCP to take notice of cartelization

The Association of Builders and Developers (ABAD) Thursday requested the Competition Commission of Pakistan (CCP) to take notice of the cartelization of the local steel products. According to Mohammad Hanif Gohar, chairman ABAD, presently the imported ste
Published 13 Nov, 2015 12:00am
Tharis still waiting for fulfilment of PM's promises: Bilawal

Tharis still waiting for fulfilment of PM's promises: Bilawal

Chairman PPP Bilawal Bhutto Zardari has said to Prime Minister Nawaz Sharif that people of Thar are still waiting for fulfilment of his promises regarding relief funds announced by him during his visit to drought-hit Thar, adding that the person whom he h
Published 13 Nov, 2015 12:00am
Tax rate could be reduced if collection increases: SRB chief

Tax rate could be reduced if collection increases: SRB chief

Chairman, Sindh Revenue Board (SRB), Tashfeen Khalid Niaz has said that the tax rate could be reduced in the province if its collection increases. He said this while speaking a reception held in his honour by Hyderabad Chamber of Commerce and Industry (HC
Published 13 Nov, 2015 12:00am
Bailable arrest warrant for MD Site issued

Bailable arrest warrant for MD Site issued

Sindh Ombudsman, Asad Ashraf Malik has issued bail-able warrant of arrest of Managing Director, SITE Karachi. This office despite issued many summons to the MD SITE to attend Office of Ombudsman Sindh, failed to attend the final notice of November 10 with
Published 13 Nov, 2015 12:00am
FPCCI elections PCDMA has not yet decided to support any group: Arif

FPCCI elections PCDMA has not yet decided to support any group: Arif

Pakistan Chemicals and Dyes Merchants Association (PCDMA) Chairman Khawaja Arif has said that the association has not yet decided to support any group in the forthcoming election of FPCCI and will soon take a decision about it. He said that the associatio
Published 13 Nov, 2015 12:00am
Railway office's lock found broken

Railway office's lock found broken

Unidentified men on Wednesday night broke down lock of the office of Railways divisional superintendent's commercial branch. However, no document was found missing from the office. Railways' divisional commercial officer (DCO) Nasir Nazeer told Busines
Published 13 Nov, 2015 12:00am
Faysal Bank signs business alliance with Gulf Air

Faysal Bank signs business alliance with Gulf Air

Faysal Bank Limited (FBL), one of the leading banks in Pakistan, together with Gulf Air yet again steps ahead to offer lucrative discounts for Faysal Bank Credit and Debit Cards customers. FBL is proud to have signed a strategic business alliance with Gul
Published 13 Nov, 2015 12:00am
District Mansehra: six small dams to be constructed in 36 months

District Mansehra: six small dams to be constructed in 36 months

PML-N government would construct as many as six small dams at an estimated cost of Rs 6.7 billion in district Mansehra, Khyber Pakhtunkhwa, it is learnt. According to the sources, PML-N has a strong vote-bank in Hazara region including districts Mansehra
Published 13 Nov, 2015 12:00am
Conference on women in development held

Conference on women in development held

An international conference on 'Women in Development' (WID) was held at the IoBM auditorium on Wednesday. The aim of the conference was to examine with follow-up and feedback women's role in contemporary development phase, women's empowerment in the labou
Published 13 Nov, 2015 12:00am
LG polls in Badin: ECP reviews requests seeking postponement

LG polls in Badin: ECP reviews requests seeking postponement

The Election Commission of Pakistan (ECP) on Thursday reviewed requests filed by the political parties for the postponement of local government elections in Badin due to prevailing law and order situation. A meeting was held with Chief Election Commission
Published 13 Nov, 2015 12:00am
Sugar mill owners posing challenges to food security?

Sugar mill owners posing challenges to food security?

Sugar mill owners have been accused of posing challenges to the country's food security by causing delay in payment to sugarcane growers. An official source of Ministry of National Food Security and Research (MNFS&R) told Business Recorder exclusiv
Published 13 Nov, 2015 12:00am
NP leader dies, three injured in accident

NP leader dies, three injured in accident

Former MNA and Secretary General of National Party (NP) Dr Yaseen Baloch died and three others wounded in a road accident here on Thursday. NP spokesperson Jan Baledi said that Secretary General of the party Dr Yaseen Baloch was on his way to Karachi from
Published 13 Nov, 2015 12:00am
LB polls: Zardari unlikely to lead forthcoming phases

LB polls: Zardari unlikely to lead forthcoming phases

Former president Asif Ali Zardari has yet to return to the country despite repeated claims that he would return shortly. Zardari left for Dubai on June 24, 2015, a week after his fiery defiant speech against the army in the wake of the Rangers crackdown a
Published 13 Nov, 2015 12:00am
Long gone are days when dictators used to take over country: Khurshid

Long gone are days when dictators used to take over country: Khurshid

Senior leader of Pakistan People's Party (PPP) and Leader of the Opposition in the National Assembly (NA), Syed Khurshid Shah has said that long gone are the days when dictators could take over the country. Talking to media persons here on Thursday, Khurs
Published 13 Nov, 2015 12:00am
Illegal gateway exchanges busted

Illegal gateway exchanges busted

Pakistan Telecommunication Authority (PTA) in its ongoing efforts to control grey traffic has unearthed illegal gateway exchanges in Pindi Bhattian and Hafizabad. According to details, a successful raid against the grey operators was carried out along wit
Published 13 Nov, 2015 12:00am
Appointment of acting chief of CDNS: IHC issues notice to government

Appointment of acting chief of CDNS: IHC issues notice to government

Islamabad High Court (IHC) on Thursday issued notices to the federal government on a petition filed against the appointment of joint secretary of the finance ministry as acting director general of the Central Directorate of National Saving (CDNS). A singl
Published 13 Nov, 2015 12:00am
Iqbal Day: government's response sought on cancellation of holiday

Iqbal Day: government's response sought on cancellation of holiday

The federal government is told to respond to a petition against the cancellation of holiday on the Iqbal Day within three weeks. Petitioner Farhad Ali Shah told the Lahore High Court on Thursday that the Interior Ministry had cancelled the holiday through
Published 13 Nov, 2015 12:00am
Family rescue four turtles

Family rescue four turtles

The WWF-Pakistan was informed on Thursday by a family residing in Khayaban-e-Rahat DHA Karachi that they had rescued four turtles from a nearby plot. The WWF-Pakistan team immediately arrived there and took these turtles into their custody. On inquiring a
Published 13 Nov, 2015 12:00am
Bank Alfalah, Ria to offer money transfer payout services

Bank Alfalah, Ria to offer money transfer payout services

Bank Alfalah and Ria Money Transfer (Ria), a global leader in international money transfer and payment services, have partnered to offer money transfer payout services in Pakistan. This partnership allows Ria customers from all over the world to send mone
Published 13 Nov, 2015 12:00am
Karachi operation will continue: Rangers

Karachi operation will continue: Rangers

Promptly responding to media reports that Karachi operation is getting slow, a Rangers spokesman Thursday asserted that the ongoing move against criminals will continue till apprehension of last terrorist and target killer. In a brief statement, the spoke
Published 13 Nov, 2015 12:00am
Bestway Cement earns Rs 3.2 billion profit before tax in Q1

Bestway Cement earns Rs 3.2 billion profit before tax in Q1

The Board of Directors at Bestway Cement Limited announced financial results for first quarter from July to September, 2015. Bestway's turnover on a consolidated basis jumped by 38 percent from Rs 6.8 billion to Rs 9.4 billion. This was largely due to acq
Published 13 Nov, 2015 12:00am
Bestway Cement earns Rs 3.2 billion profit before tax in Q1

Bestway Cement earns Rs 3.2 billion profit before tax in Q1

The Board of Directors at Bestway Cement Limited announced financial results for first quarter from July to September, 2015. Bestway's turnover on a consolidated basis jumped by 38 percent from Rs 6.8 billion to Rs 9.4 billion. This was largely due to acq
Published 13 Nov, 2015 12:00am
PIA signs two MoUs at Dubai Air Show

PIA signs two MoUs at Dubai Air Show

Pakistan International Airlines (PIA) signed following two memorandums of understanding (MoUs) on the sidelines of Dubai Air show in UAE.
Published 13 Nov, 2015 12:00am
SECP issues draft reinsurance brokers' regulation

SECP issues draft reinsurance brokers' regulation

The Securities and Exchange Commission of Pakistan (SECP) has issued draft Securities and Exchange Commission (Reinsurance Brokers) Regulations, 2015 for eliciting public opinion through SRO No 1091(I)/2015 dated November 6. Reinsurance broking refers to
Published 13 Nov, 2015 12:00am
Dar reviews preparations for Pak-Russia IGC meeting

Dar reviews preparations for Pak-Russia IGC meeting

Finance Minister Ishaq Dar chaired the preparatory meeting for the upcoming 4th Pak-Russia Inter-Governmental Commission here at the Ministry of Finance Thursday. Secretary Economic Affairs Division Muhammad Saleem Sethi briefed the minister on the prepar
Published 13 Nov, 2015 12:00am
PAC audit statement AGP concerned over press release issued by JJVL

PAC audit statement AGP concerned over press release issued by JJVL

The Auditor General of Pakistan (AGP) has expressed serious concern over a press release recently issued by Jamshoro Joint Venture Limited (JJVL) on the statement of audit officials in the Public Accounts Committee (PAC). In the press release, Jamshoro Jo
Published 13 Nov, 2015 12:00am
Insurance companies: SECP issues Code of Corporate Governance

Insurance companies: SECP issues Code of Corporate Governance

The Securities and Exchange Commission of Pakistan (SECP) has issued Code of Corporate Governance for insurance companies under which insurers would ensure effective representation of independent non-executive directors on its Board of Directors. In this
Published 13 Nov, 2015 12:00am
LSE de-lists Mineral Grinding Mills

LSE de-lists Mineral Grinding Mills

The Lahore Stock Exchange Limited has de-listed the Mineral Grinding Mills Limited from the exchange taking the number of listed companies to 432. The mineral company, listed in 1991, is under violation of the Listing Regulations No 30(1)(b)(d)(e)(g) of t
Published 13 Nov, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (November 12, 2015) and the forecast for Friday (November 13, 2015).

Published 13 Nov, 2015 12:00am
Ghani Global Group starts tubing glass plant

Ghani Global Group starts tubing glass plant

Ghani Global Group on Thursday formally inaugurated its Tubing Glass Manufacturing Plant completed at a cost of over Rs 1.4 billion near Phool Nagar Bypass, District Kasur. This is the first ever state-of-the-art European technology glass tubing plant of
Published 13 Nov, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (November 12, 2015).

Published 13 Nov, 2015 12:00am
World Pneumonia Day observed

World Pneumonia Day observed

World Pneumonia Day 2015 was observed here on Thursday like other parts of the globe with a resolve to continue efforts aimed at raising awareness and promoting intervention to protect against, treat, and prevent pneumonia to achieve the goal of a healthy
Published 13 Nov, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 13 Nov, 2015 12:00am
'Bar, bench working towards fair, speedy justice'

'Bar, bench working towards fair, speedy justice'

Lahore High Court Chief Justice Ijazul Hassan, who took part on Thursday in a reception honouring him, claimed that the bar and the bench were working together to help litigants for fair and speedy justice. In a speech at the reception set up by the Lahor
Published 13 Nov, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 13 Nov, 2015 12:00am
Use of unauthorised cards FIA, BISP raid many locations in Okara

Use of unauthorised cards FIA, BISP raid many locations in Okara

A joint team of the Federal Investigation Agency (FIA) and the Benazir Income Support Programme have raided various locations in Okara, arresting three men following a string of complaints against using the unauthorised programme cards to cash substantial
Published 13 Nov, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (November 12, 2015).

Published 13 Nov, 2015 12:00am
Chinese IT giant: Project of 'Alibaba' to be replicated in Pakistan

Chinese IT giant: Project of 'Alibaba' to be replicated in Pakistan

One of the founders of Alibaba Software Park and Director of National Software Industry Alliance Song Xiaochun has said that he would replicate the project of Chinese IT giant "Alibaba" in Pakistan. Song Xiaochun while heading a Chinese delegation reveale
Published 13 Nov, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (November 12, 2015)

Published 13 Nov, 2015 12:00am
PESCO disconnects supply to 35 transformers over non-payment

PESCO disconnects supply to 35 transformers over non-payment

Peshawar Electric Supply Company (PESCO) on Thursday disconnected 35 distribution transformers and one span of High Transmission Conductor on non-payment of Rs 35 million. PESCO spokesman said that following the directives of Chief Executive PESCO Syed Ha
Published 13 Nov, 2015 12:00am
KP, FWO agree to initiate joint projects

KP, FWO agree to initiate joint projects

The government of Khyber Pakhtunkhwa and Frontier Works Organisation (FWO) have agreed to jointly initiate the mega projects of the province in communication and energy production sectors under Public Private Partnership (PPP) policy of the present provin
Published 13 Nov, 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 (November 12, 2015).

Published 13 Nov, 2015 12:00am
'Linkage between industry and academia imperative'
Cotton

'Linkage between industry and academia imperative'

The prime objective of research is to serve community and in this connection commercialisation of new technologies and inventions developed by scientists will be a prerequisite, said Dr Asif Ali, Director Office of Research, Innovation and Commercialisati
Published 13 Nov, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (November 12, 2015).

Published 13 Nov, 2015 12:00am
WHT on bank transactions: LCCI takes up issue with concerned authorities

WHT on bank transactions: LCCI takes up issue with concerned authorities

Lahore Chamber of Commerce and Industry (LCCI) on Thursday took up the issue of withholding tax on bank transactions with federal ministers, Parliamentarians and key government departments. LCCI President Sheikh Muhammad Arshad through a letter to MNA Per
Published 13 Nov, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (November 12, 2015).

Published 13 Nov, 2015 12:00am
Better governance is demand of people, not just Army: Imran

Better governance is demand of people, not just Army: Imran

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has once again lashed out at the government, adding that 'better governance' is demand of all Pakistanis and not just Pak Army. The remarks came two days after ISPR's statement saying that there was a nee
Published 13 Nov, 2015 12:00am
Quake-hit areas 'Centre has not paid a single penny to KP government'

Quake-hit areas 'Centre has not paid a single penny to KP government'

Khyber Pakhtunkhwa government has yet not received funds from the federal government for earthquake-hit areas, however, the provincial government made releases of Rs 8.5 billion from its own resources for the affected districts. This was stated by Special
Published 13 Nov, 2015 12:00am
Heavy rains forecast in earthquake-hit areas today

Heavy rains forecast in earthquake-hit areas today

The Meteorological department has forecast heavy rain/snowfalls in the earthquake areas of upper KPK, Kashmir and Fata for the second day today. On Thursday, rain occurred at scattered places in Fata, upper Khyber Pakhtunkhwa and Gilgit-Baltistan, while a
Published 13 Nov, 2015 12:00am
PS-81 SC de-seats PPP MPA, declares PML-F man as winner

PS-81 SC de-seats PPP MPA, declares PML-F man as winner

A three-member Supreme Court bench headed by Justice Mian Saqib Nisar on Thursday set aside the Election Tribunal verdict and declared Jam Madad Ali of Pakistan Muslim League (Functional) as the winning candidate from Sindh Assembly' PS-81. Jam Madad had
Published 13 Nov, 2015 12:00am
First Safar tomorrow

First Safar tomorrow

The moon of Safar has not been sighted, Chairman Ruet-e-Hilal Mufti Muneeb-ur-Rehman announced Thursday. Talking to media after chairing the meeting of Zonal Ruet-e-Hilal Committee (Islamabad), he said Safar moon has not been sighted at various places in
Published 13 Nov, 2015 12:00am
THE RUPEE: slight gains
Currency

THE RUPEE: slight gains

A marginal recovery was witnessed in the value of the rupee against the dollar on the local currency market on Thursday, dealers said. The rupee inched up by two-paisa against the dollar for buying and selling at Rs 105.44 and 105.46 respectively, they sa
Published 13 Nov, 2015 12:00am
Talk of liberal Pakistan violates constitution: Siraj

Talk of liberal Pakistan violates constitution: Siraj

JI Pakistan Ameer Senator Sirajul Haq has said that the talk of a liberal Pakistan was in conflict with the country's constitution. He stated this while addressing a reference in memory of a renowned religious scholar Maulana Dr Sher Ali Shah at Akora Kha
Published 13 Nov, 2015 12:00am
THE RUPEE: slight gains
Currency

THE RUPEE: slight gains

A marginal recovery was witnessed in the value of the rupee against the dollar on the local currency market on Thursday, dealers said. The rupee inched up by two-paisa against the dollar for buying and selling at Rs 105.44 and 105.46 respectively, they sa
Published 13 Nov, 2015 12:00am
PPL headquarters being shifted to Islamabad

PPL headquarters being shifted to Islamabad

The senior management of Pakistan Petroleum Limited (PPL) has decided to shift company headquarters from Karachi to Islamabad at a considerable cost and inconvenience to staff. According to reliable sources, the management of the country's second largest
Published 13 Nov, 2015 12:00am
Shahrukh Jatoi's mercy petition: Ministry stops implementation

Shahrukh Jatoi's mercy petition: Ministry stops implementation

The Ministry of Interior on Thursday stopped implementation on a mercy petition filed by Shahrukh Jatoi against the death sentence awarded to him by an Anti Terrorism Court (ATC) on charges of killing Shahzeb Khan. Sources said Minister for Interior Chaud
Published 13 Nov, 2015 12:00am
Pakistan re-elected to Executive Board Unesco

Pakistan re-elected to Executive Board Unesco

Pakistan was re-elected to the Executive Board of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) for the term 2015-19, during elections held in Paris, on Wednesday evening. Pakistan has the singular honour of being a member
Published 13 Nov, 2015 12:00am
Byco aims to cut country's reliance on oil product imports by 65 percent

Byco aims to cut country's reliance on oil product imports by 65 percent

Byco Petroleum Pakistan Ltd aims to cut Pakistan's reliance on oil product imports by nearly 65 percent once it ramps up operating rates at its new refinery, now the country's largest, a senior company official told Reuters. The company started operations
Published 13 Nov, 2015 12:00am
Cotton eases on demand worry weigh ahead of weekly export data
Cotton

Cotton eases on demand worry weigh ahead of weekly export data

ICE cotton prices retreated on Thursday as rains eased in key growing regions of the United States during the harvest and weak demand weighed. "Buyers aren't chasing this market," said Jobe Moss, a broker with MCM Inc in Lubbock Texas. "The key thing is t
Published 13 Nov, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (November 12, 2015).

Published 13 Nov, 2015 12:00am
US MIDDAY: wheat and soya up

US MIDDAY: wheat and soya up

US wheat futures firmed early on Thursday on technical buying including short-covering, but advances were modest as export sentiment remained gloomy. Soyabean futures also rose while corn was narrowly mixed, with the benchmark December contract consolidat
Published 13 Nov, 2015 12:00am
US MIDDAY: gold dips to near six-year low

US MIDDAY: gold dips to near six-year low

Gold fell to its lowest level since early 2010 on Thursday, under pressure from expectations the US Federal Reserve is on track to raise interest rates next month for the first time in nearly a decade. Spot gold breached technical support at its July low
Published 13 Nov, 2015 12:00am
Response

Response

Anjum Ibrahim has written an article "The marriage between politics and economics" published in Business Recorder on 09-11-2015. Among various political issues the writer has again raised the issue of Pakistan's foreign exchange reserves and referr
Published 13 Nov, 2015 12:00am
Zimbabwe's scandal-hit wildlife industry fears for its future

Zimbabwe's scandal-hit wildlife industry fears for its future

As scandals ranging from Cecil the lion to cyanide poisoning of elephants hit Zimbabwe, the country's wildlife industry fears for its reputation and pledges stricter controls. First there was the case of Cecil the lion. Then an elephant killed by another
Published 13 Nov, 2015 12:00am
German refugee shelters: A safe haven for women?

German refugee shelters: A safe haven for women?

Refugee shelters can be intimidating places for women, who are often in the minority in such facilities. Single women are especially vulnerable to physical and sexual violence. For many of them, it's not their first experience of such crimes. Kushtime cam
Published 13 Nov, 2015 12:00am
New FBR chairman no solution

New FBR chairman no solution

Press reports suggest change of guards to take place at Federal Board of Revenue (FBR) soon (may be today). The appointment of Chairman from within FBR (if the senior most officer is ignored) will certainly be a cause of discord among high-ups and if take
Published 13 Nov, 2015 12:00am
Questionable timing
Cotton

Questionable timing

Selection of the venue and the timing by Prime Minister Nawaz Sharif for the launch of his government's controversial 'Kissan Package' has given the opposition a new cause for complaint. Notably, the Rs 341 billion package comprising attractive cash grant
Published 13 Nov, 2015 12:00am
The ill-conceived riposte

The ill-conceived riposte

What the Army Chief General Raheel Sharif has said in his take on the implementation of the National Action Plan was an observation, a kind of wake-up call, and not a reservation about the otherwise all-too-obvious inability of the civilian leadership to
Published 13 Nov, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Nov, 2015 12:00am
Gwadar under focus

Gwadar under focus

The Balochistan government has handed over around 280 acres out of a 2300 acre tax exempt land for the development of a special economic zone in Gwadar port to China on a 43-year lease, a component of the 46 billion dollar China-Pakistan Economic Corridor
Published 13 Nov, 2015 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Nov, 2015 12:00am
Efforts on to achieve collection target: Bajwa tells Dar

Efforts on to achieve collection target: Bajwa tells Dar

Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here at the Ministry of Finance to review the progress of the FBR in achieving the revenue target set by the Government. Chairman FBR Tariq Bajwa briefed the Minister that there has
Published 13 Nov, 2015 12:00am
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