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Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-01-23
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Thursday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 9,798 million. The number of lots traded was 65.97 million. PMEX Commodity Index closed at 2,522. Major business was contributed by gold amounting to PKR 8,831 million followed by c
Published 23 Jan, 2016 12:00am
China's 2015 natural gas output growth slowest in 10 years

China's 2015 natural gas output growth slowest in 10 years

China's 2015 natural gas production rose by 2.9 percent from the previous year - the slowest growth in at least 10 years - official data showed on Tuesday, amid ample supply and weak domestic demand for the cleaner-burning fuel. Production reached 127.1 b
Published 23 Jan, 2016 12:00am
Asian gasoil weakens on lower Chinese demand

Asian gasoil weakens on lower Chinese demand

Asian gasoil cash differentials slipped on Tuesday as traders expected continued high diesel exports from China where domestic demand remains weak. China's implied oil consumption grew 2.5 percent in 2015 on strong growth in gasoline and kerosene use, def
Published 23 Jan, 2016 12:00am
US FOB Gulf corn premiums higher on thin spot supplies

US FOB Gulf corn premiums higher on thin spot supplies

Export premiums for corn shipped from the US Gulf Coast were steady to higher on Wednesday, with nearby values supported by limited spot supplies and expectations for improving demand, traders said. High water on the lower Mississippi River is slowing del
Published 23 Jan, 2016 12:00am
Indian soyabean futures fall on profit-taking
Exchange

Indian soyabean futures fall on profit-taking

Indian soyabean futures fell on Wednesday on profit-taking, snapping a two-day winning streak, while rapeseed eased on lack of demand and estimates of a rise in output in the country's top producing state. The February soyabean contract on the National Co
Published 23 Jan, 2016 12:00am
China's 2015 coal output drops 3.5 percent

China's 2015 coal output drops 3.5 percent

China's coal production fell 3.5 percent to 3.68 billion tonnes in 2015, official data showed on Tuesday, as waning demand and a drive by authorities to curb fossil fuel use forced many firms to cut back operations. Output in December alone, normally a pe
Published 23 Jan, 2016 12:00am
US natural gas futures edge higher on cold weather
Exchange

US natural gas futures edge higher on cold weather

US natural gas futures edged higher on Wednesday before a storage report expected to show the biggest draw so far this season and weather forecasts calling for the weather to remain seasonably cold through the first week of February. After falling 15 perc
Published 23 Jan, 2016 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 126,392 tonnes of cargo comprising 95,396 tonnes of import cargo and 30,996 tonnes of export cargo including 6,850 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 95,3
Published 23 Jan, 2016 12:00am
Cotton market: steady trend seen on modest trade activity
Cotton

Cotton market: steady trend seen on modest trade activity

Rates held the present levels on the cotton market on Friday in the process of modest trading activity, dealers said. The official spot rate was unchanged at Rs 5,400, dealers said. In Sindh, prices of seed cotton were at Rs 2000 and Rs 3000 and in the Pu
Published 23 Jan, 2016 12:00am
Grain market closed

Grain market closed

According to the Karachi Grain and Seeds Merchant Group, local commodity and seeds markets were closed on Friday due to Gyarahween Shrif holiday.
Published 23 Jan, 2016 12:00am
CBOT wheat futures lower

CBOT wheat futures lower

Wheat futures on the Chicago Board of Trade fell Wednesday, joining a broad sell-off in commodities led by tumbling crude oil prices and macroeconomic worries, traders said. US oil prices crashed below $27 dollars a barrel for the first time since 2003, c
Published 23 Jan, 2016 12:00am
US Midwest corn, soya bids mostly flat

US Midwest corn, soya bids mostly flat

Spot basis bids for corn and soyabeans were mostly unchanged at processors and elevators around the US Midwest on Wednesday with just a few changes, grain dealers said. A dealer at a river terminal in Toledo, Ohio, said farmers were selling some corn and
Published 23 Jan, 2016 12:00am
Brazil inflation reaches 12-year high in mid-January
Currency

Brazil inflation reaches 12-year high in mid-January

Rising food prices and bus fares pushed Brazil's annual inflation rate to a 12-year high in mid-January, despite a severe recession which has cost more than 1.5 million jobs. Consumer prices as measured by the IPCA-15 index rose 10.74 percent in the 12 mo
Published 23 Jan, 2016 12:00am
China central bank frees up some firms for overseas borrowing

China central bank frees up some firms for overseas borrowing

China's central bank said on Friday that 27 financial institutions, as well as firms registered in free trade zones in Shanghai, Tianjin, Guangzhou and Fujian, would no longer need approval to issue foreign debt. The central bank will apply its macro-prud
Published 23 Jan, 2016 12:00am
Draghi says ECB still has ammunition amid doubts

Draghi says ECB still has ammunition amid doubts

European Central Bank President Mario Draghi said on Friday that the bank had plenty of instruments at its disposal to push meagre euro zone inflation levels higher and was both determined and willing to act. His comments at the World Economic Forum in Da
Published 23 Jan, 2016 12:00am
UK Christmas retail sales slide, pressure on public finances eases

UK Christmas retail sales slide, pressure on public finances eases

British consumers reined in their Christmas spending by the biggest amount in over six years but there was more cheer for finance minister George Osborne after government borrowing dropped sharply, official data showed on Friday. The retail numbers added
Published 23 Jan, 2016 12:00am
Morgan Stanley still sees 20 percent chance of US recession

Morgan Stanley still sees 20 percent chance of US recession

Morgan Stanley economists are clinging to their forecast of a 20 percent chance the US economy will slip into recession in 2016 on evidence of contraction in the factory sector and signs of slowing among services industries. "That assessment still feels a
Published 23 Jan, 2016 12:00am
Eurozone businesses start 2016 in poorer state than thought: PMI

Eurozone businesses start 2016 in poorer state than thought: PMI

Eurozone businesses had a much poorer start to 2016 than expected as deeper price cutting and a weak euro making goods and services cheaper abroad failed to drive any meaningful demand, a survey showed on Friday. The disappointing survey comes a day after
Published 23 Jan, 2016 12:00am
Low oil price chance for Gulf economic reforms: ministers

Low oil price chance for Gulf economic reforms: ministers

The sharp drop in the price of oil, the lifeblood of Gulf economies, is an opportunity to end subsidies and introduce reforms in the energy-rich region, ministers said Friday. "With low prices... it is the right time" to cut subsidies on oil products, Kuw
Published 23 Jan, 2016 12:00am
Strong US housing data offers ray of hope for slowing economy

Strong US housing data offers ray of hope for slowing economy

US home resales rebounded strongly in December from a 19-month low and prices surged, indicating the housing market recovery remained intact despite signs of a sharp deceleration in economic growth in recent months. The National Association of Realtors sa
Published 23 Jan, 2016 12:00am
J.P Morgan chief Dimon gets 35 percent raise

J.P Morgan chief Dimon gets 35 percent raise

Wall Street's most prominent banker, J.P. Morgan Chase's chief executive Jamie Dimon, is getting a 35 percent raise this year. Dimon was given a $7 million pay hike by the bank's board of directors Thursday, boosting his compensation to $27 million. That
Published 23 Jan, 2016 12:00am
Ukraine fines Gazprom $3.5 billion

Ukraine fines Gazprom $3.5 billion

The head of Ukraine's competition authority said on Friday that the watchdog had decided to fine Russian gas company Gazprom 85 billion hryvnias ($3.5 billion) for abusing its monopoly on the Ukrainian gas transit market. The decision by the Ukrainian reg
Published 23 Jan, 2016 12:00am
Saudi central bank warns banks against riyal speculation
Currency

Saudi central bank warns banks against riyal speculation

The Saudi Arabian central bank has warned commercial banks against betting on depreciation of the riyal as tumbling oil prices put pressure on the Saudi currency, several bankers operating in the market said. The action by the Saudi Arabian Monetary Agenc
Published 23 Jan, 2016 12:00am
Netflix membership climbs with global growth
Exchange

Netflix membership climbs with global growth

Netflix on Tuesday reported that it remained profitable and added a record number of new subscribers in the final quarter of last year as it pushed to expand globally. Netflix shares jumped more than six percent to $115.20 after revealing that its ranks o
Published 23 Jan, 2016 12:00am
German migrants not enough to rejuvenate ageing workforce

German migrants not enough to rejuvenate ageing workforce

A surge of immigrants into Germany will only have a limited impact on rejuvenating its ageing workforce, the Federal Statistics Office said on Wednesday, stepping into a heated debate on new arrivals. Some labour experts and German politicians hailed the
Published 23 Jan, 2016 12:00am
UK household morale slides at start of 2016

UK household morale slides at start of 2016

British households' financial situation worsened in January to the weakest in five months as jobs became scarcer and less secure, a survey for data company Markit showed on Wednesday. Markit said its Household Finance Index also showed that the proportion
Published 23 Jan, 2016 12:00am
France's EDF to cut 5 percent of jobs

France's EDF to cut 5 percent of jobs

French electricity firm EDF announced Thursday plans to cut five percent of its staff over the next three years as it tries to face up to increased competition and difficult markets. With a workforce of 67,000, that means some 3,350 jobs will go, although
Published 23 Jan, 2016 12:00am
Canada's retail sales jump, pointing to boost to weak economy
Currency

Canada's retail sales jump, pointing to boost to weak economy

Canadian retail sales jumped far more than expected in November on higher sales of new cars and Black Friday purchases, pointing to some much-needed vigor for a struggling economy. Separate data showed the annual inflation rate rose in December as food pr
Published 23 Jan, 2016 12:00am
Greek economy to stay in recession in 2016: think tank IOBE

Greek economy to stay in recession in 2016: think tank IOBE

Greece's economy contracted by about 0.5 percent last year, less than previously expected, and will stay in recession this year without a strong surge in investment, the country's influential think tank IOBE said in a quarterly report on Thursday. Athens
Published 23 Jan, 2016 12:00am
Turkey to offer fuel subsidies for flights to bring back tourists

Turkey to offer fuel subsidies for flights to bring back tourists

Turkey will offer jet fuel subsidies for flights to five of its tourist hot spots as part of its efforts to safeguard tourism revenue after a suicide bombing in Istanbul last week killed 10 German tourists. Airlines will receive $6,000 per flight to Antal
Published 23 Jan, 2016 12:00am
Tokyo shares soar 5.88 percent on stimulus hopes
Exchange

Tokyo shares soar 5.88 percent on stimulus hopes

Tokyo shares rallied nearly six percent Friday, tracking strong gains in US and European markets as hopes for fresh European and Japanese central bank stimulus cheered investors. The benchmark Nikkei 225 index at the Tokyo Stock Exchange soared 5.88 perce
Published 23 Jan, 2016 12:00am
Indian shares jump most since October

Indian shares jump most since October

Indian shares ended 2 percent higher on Friday, positing their biggest single-day percentage gain since October as hints of more stimulus measures from the European Central Bank lifted global markets, but still marked a third weekly fall. A recovery in cr
Published 23 Jan, 2016 12:00am
Friday's early trade: S&P, Nasdaq surge nearly two percent

Friday's early trade: S&P, Nasdaq surge nearly two percent

The S&P 500 and the Nasdaq rallied nearly 2 percent on Friday morning as a cold wave in the United States and Europe helped crude oil surge for a second day. All 10 major S&P sectors were in the black, led by a 4.67 percent jump in energy stocks. The Nasd
Published 23 Jan, 2016 12:00am
Badly bruised Wall Street finds solace in oil rebound
Exchange

Badly bruised Wall Street finds solace in oil rebound

Wall Street staged a modest rally on Thursday as oil prices recorded their biggest gain this year and ECB President Mario Draghi raised hopes of more stimulus for Europe. Seven of 10 major S&P 500 sectors climbed, with a 2.88-percent jump in energy stocks
Published 23 Jan, 2016 12:00am
Hong Kong shares jump

Hong Kong shares jump

Hong Kong shares enjoyed some respite from a savage selloff in recent weeks, with the benchmark Hang Seng Index jumping nearly 3 percent on Friday, its best performance in over three months. The market stepped off Thursday's 3-1/2-year lows, spurred by re
Published 23 Jan, 2016 12:00am
US bond prices fall

US bond prices fall

US Treasuries prices fell on Thursday with benchmark yields rising from 3-1/2-month lows as a rebound on Wall Street and in the oil market scaled back appetite for low-risk government debt, but jitters remained on further losses in those sectors. Remarks
Published 23 Jan, 2016 12:00am
US bond prices fall

US bond prices fall

US Treasuries prices fell on Thursday with benchmark yields rising from 3-1/2-month lows as a rebound on Wall Street and in the oil market scaled back appetite for low-risk government debt, but jitters remained on further losses in those sectors. Remarks
Published 23 Jan, 2016 12:00am
Southeast Asian stocks snap losing streaks

Southeast Asian stocks snap losing streaks

Southeast Asian stock markets snapped a two-day losing streak on Friday, in line with Asia, with the Philippines recovering from an oversold zone and banking shares climbing in Malaysia after a central bank move to boost liquidity in the system. Hints of
Published 23 Jan, 2016 12:00am
China stocks up in volatile trading
Currency

China stocks up in volatile trading

China stocks ended Friday up in volatile trading, with the market drawing some support from a rebound in global equity markets and oil prices. The CSI300 index rose 1.0 percent, to 3,113.46 points, while the Shanghai Composite Index gained 1.3 percent, to
Published 23 Jan, 2016 12:00am
Sri Lankan shares rise

Sri Lankan shares rise

Sri Lankan share index rose for a second straight session on Friday, as retail investors bought financial stocks, but brokers said the rally will be short lived due to volatile global markets and rising returns in risk free assets. The gains helped the in
Published 23 Jan, 2016 12:00am
Australian, New Zealand shares rise

Australian, New Zealand shares rise

Australian shares jumped 1.1 percent on Friday, nudging into positive territory for the week as hopes of more stimulus in Europe and rebounds in prices of iron ore and oil buoyed sentiment. In its first two-day winning streak for the year, the S&P/ASX 200
Published 23 Jan, 2016 12:00am
FTSE 100 notches up first weekly gain of 2016

FTSE 100 notches up first weekly gain of 2016

Britain's top share index recorded on Friday its first weekly gain for 2016, as a respite to the slump in the oil price lifted the shares of major energy companies. The bluechip FTSE 100 index closed up 2.2 percent at 5,900.01 points. It also rose 1.7 per
Published 23 Jan, 2016 12:00am
Yuan barely budges

Yuan barely budges

China's yuan barely moved against the dollar on Friday and was set to end this week flattish, with dealers slightly reducing bearish positions against the yuan and the central bank keeping daily guidance rates in a tight range. "Trading was relatively tep
Published 23 Jan, 2016 12:00am
Dollar up in Asia
Currency

Dollar up in Asia

The dollar firmed against a basket of currencies on Friday, as rising expectations of monetary easing by other major central banks offset fading chances of more rate hikes from the Federal Reserve. The dollar index, which tracks the greenback against a ba
Published 23 Jan, 2016 12:00am
Central bank messages calm market nerves, boost dollar in Europe

Central bank messages calm market nerves, boost dollar in Europe

The dollar firmed against a basket of currencies on Friday, as rising expectations of monetary easing by central banks in Europe and Japan hit the yen and euro while prompting a strong recovery in global oil and stock markets. Oil-driven currencies such a
Published 23 Jan, 2016 12:00am
Early trade in New York: Dollar rises against yen, euro
Currency

Early trade in New York: Dollar rises against yen, euro

The dollar firmed on Friday, boosted by increased expectations of monetary easing by central banks in Europe and Japan, and by strong US housing data. The dollar touched a two-week high against the yen, which has risen nearly 3 percent versus the greenbac
Published 23 Jan, 2016 12:00am
Dollar reverses gains versus euro in New York
Currency

Dollar reverses gains versus euro in New York

The dollar turned negative against the euro on Thursday, reversing a morning rally that saw the greenback hit its highest against the euro in two weeks. The euro rose 0.1 percent against the dollar, recovering from selling earlier in the day triggered by
Published 23 Jan, 2016 12:00am
Sri Lankan rupee steady
Currency

Sri Lankan rupee steady

The Sri Lankan rupee ended steady on Friday as dollar sales by two private banks helped offset demand for the greenback from importers, dealers said. The private banks might have sold dollars on behalf of the central bank, some dealers said. Officials at
Published 23 Jan, 2016 12:00am
Stimulus hopes, oil bounce lift Asia FX
Currency

Stimulus hopes, oil bounce lift Asia FX

Most emerging Asian currencies rose on Friday to post weekly gains on growing hopes for further monetary stimulus from Europe and Japan, while oil prices extended a rebound. The Malaysian ringgit touched a near three-week high in thin trading as underlyin
Published 23 Jan, 2016 12:00am
Russian ruble bounces back
Currency

Russian ruble bounces back

Russia's battered ruble on Friday bounced back after a rise in crude prices, recovering ground a day after it slumped to an all-time low against the dollar.
Published 23 Jan, 2016 12:00am
Brutal sell-off in sterling takes a breather
Currency

Brutal sell-off in sterling takes a breather

Sterling rallied on Friday as investors regained some risk appetite in a market calmed by a halt in the oil slide and a signal that the European Central Bank will ease policy further in March. Mixed data showing UK government borrowing dropped sharply in
Published 23 Jan, 2016 12:00am
Aussie, kiwi up
Currency

Aussie, kiwi up

The Australian and New Zealand dollars were heading for hefty weekly gains on Friday after a bounce in oil prices and expectations of further policy easing in some parts of the world sharpened appetites for risky assets. The Australian dollar held at $0.6
Published 23 Jan, 2016 12:00am
British anti-doping chief under fire from FA

British anti-doping chief under fire from FA

The head of UK Anti-Doping (UKAD) is set to appear before a committee of British lawmakers on Tuesday with the sound of criticism from England's Football Association still ringing in her ears. FA chiefs are unhappy that Nicole Sapstead, the chief executiv
Published 23 Jan, 2016 12:00am
Masakadza, Madziva level series for Zimbabwe

Masakadza, Madziva level series for Zimbabwe

A record-breaking innings by Hamilton Masakadza led Zimbabwe to an 18-run victory over Bangladesh Friday as the tourists clinched a series draw in the fourth and final Twenty20 international in Khulna. Masakadza hit 93 off 58 balls, the highest innings by
Published 23 Jan, 2016 12:00am
Cook, Amla steer South Africa

Cook, Amla steer South Africa

Debutant Stephen Cook and Hashim Amla shared a double century partnership for South Africa before England fought back on the first day of the fourth and final Test at SuperSport Park on Friday. Cook made 115 and Amla hit 109 in a South Africa total of 329
Published 23 Jan, 2016 12:00am
Prince Ali says he will win a clean FIFA vote

Prince Ali says he will win a clean FIFA vote

FIFA presidential contender Prince Ali bin al Hussein said Friday he was "fully confident" of winning the corruption-plagued organisation's leadership ballot next month, provided the vote is clean. The Jordanian crown prince, one of five candidates seekin
Published 23 Jan, 2016 12:00am
UEFA approves new technology as Infantino vows FIFA win

UEFA approves new technology as Infantino vows FIFA win

UEFA on Friday approved the use of goal-line technology (GLT) for its competitions, as the body's acting chief Gianni Infantino vowed to win FIFA's upcoming presidential vote. The greenlight for GLT, which has been expected, was given the final nod at UEF
Published 23 Jan, 2016 12:00am
Serena, Djokovic and Federer advance into Aussie fourth round

Serena, Djokovic and Federer advance into Aussie fourth round

Novak Djokovic underlined his supremacy in men's tennis on Friday as he marched unstoppably into the Australian Open fourth round - along with Serena Williams, who raced through in just 44 minutes. As Roger Federer reached a landmark 300th Grand Slam win,
Published 23 Jan, 2016 12:00am
Berdych bundles out colourful Kyrgios

Berdych bundles out colourful Kyrgios

Tomas Berdych extinguished the hopes of young Aussie showman Nick Kyrgios with a regimented four-sets win to reach the fourth round of the Australian Open on Friday. Berdych, a two-time semi-finalist, was too cool and focused for the easily distracted 20-
Published 23 Jan, 2016 12:00am
Laiba, Komal reach KP Junior Squash final

Laiba, Komal reach KP Junior Squash final

Laiba Ijaz and Komal will clash in the final of the Khyber Pakhtunkhwa Junior Girls Squash Championship being played here at PAF Hashim Khan Squash Complex on Friday. The final will be played on Saturday at 3.00 pm Former World Champion and Vice President
Published 23 Jan, 2016 12:00am
New Zealand win Twenty20 series against Pakistan

New Zealand win Twenty20 series against Pakistan

Corey Anderson whacked a career-best 82 not out and followed up with two wickets as New Zealand demolished Pakistan by 95 runs in their deciding Twenty20 in Wellington on Friday. New Zealand wrapped up the series 2-1 after being sent into bat and making a
Published 23 Jan, 2016 12:00am
Scientists urge world to stop killer robots

Scientists urge world to stop killer robots

The world must act quickly to avert a future in which autonomous robots with artificial intelligence roam the battlefields killing humans, scientists and arms experts warned at an elite gathering in the Swiss Alps. Rules must be agreed to prevent the deve
Published 23 Jan, 2016 12:00am
Yemen strikes kill MSF ambulance driver, five others

Yemen strikes kill MSF ambulance driver, five others

Air strikes by Saudi-led warplanes on northern Yemen have killed six people, including an ambulance driver working for Doctors Without Borders (MSF), and wounded 40 others, the relief agency said Friday. The strikes hit the villages of Dhahyan, Baqim and
Published 23 Jan, 2016 12:00am
UN brain trust to tackle unleashing women's economic power

UN brain trust to tackle unleashing women's economic power

Academics, economists and top members of business and labour have been tapped by the United Nations to find ways to unleash women's economic potential and promote female leadership in a first-of-its-kind initiative, UN Secretary-General Ban Ki-moon said o
Published 23 Jan, 2016 12:00am
Abe, Putin agree to meet as island row rumbles on
Exchange

Abe, Putin agree to meet as island row rumbles on

Prime Minister Shinzo Abe and Russian President Vladimir Putin agreed Friday to arrange a visit to Moscow by the Japanese leader, despite a long-running deadlock over a decades-long territorial dispute. Japan-Russia relations have been hampered by the ter
Published 23 Jan, 2016 12:00am
Russia sanctions could be lifted 'in months': Kerry

Russia sanctions could be lifted 'in months': Kerry

US Secretary of State John Kerry on Friday held out the prospect of lifting Western sanctions against Russia within months if the Minsk peace accord to end the conflict in Ukraine is fully implemented. "With effort and with bona-fide legitimate intent to
Published 23 Jan, 2016 12:00am
Gunmen kill 17 in Somalia beach restaurant attack

Gunmen kill 17 in Somalia beach restaurant attack

At least 17 people were killed in the Somali capital of Mogadishu when five Islamist gunmen set off bombs and stormed a popular beach-front restaurant late on Thursday, Somali police said. Al Shabaab, a militant group aligned with al Qaeda, said its fight
Published 23 Jan, 2016 12:00am
UK watchdog 'deeply concerned' about leak of official statistics

UK watchdog 'deeply concerned' about leak of official statistics

Britain's statistics watchdog said on Friday that market-sensitive data had been shared with hundreds of civil servants before its public release on Wednesday, in breach of official rules. The figures released on Wednesday showed a strong jump in employme
Published 23 Jan, 2016 12:00am
Myanmar releases political prisoners

Myanmar releases political prisoners

Myanmar began releasing the first of about 100 prisoners on Friday, many of them political detainees, days before a parliament dominated by democracy champion Aung San Suu Kyi's party sits for the first time after an election win in November. The freeing
Published 23 Jan, 2016 12:00am
Lagarde seeks second term

Lagarde seeks second term

Christine Lagarde launched her campaign for a second term as managing director of the International Monetary Fund on Friday with ringing endorsements from a host of major economies that looked past a court case against her in her native France. The former
Published 23 Jan, 2016 12:00am
Air strikes kill 30 civilians in east Syria

Air strikes kill 30 civilians in east Syria

At least 30 civilians, including 13 children, were killed in air strikes in eastern Syria on Friday, a monitoring group said. It was unclear if the raids in Deir Ezzor province, which is mostly controlled by the Islamic State group, were carried out by Ru
Published 23 Jan, 2016 12:00am
North Korea detains US student on New Year trip for 'hostile act'

North Korea detains US student on New Year trip for 'hostile act'

North Korea has detained a US university student, the third western citizen known to be held in the isolated state, for committing a "hostile act" and wanting to "destroy the country's unity", it said on Friday. Otto Frederick Warmbier, 21, of the Univers
Published 23 Jan, 2016 12:00am
South Africa region offers study grants for virgin girls

South Africa region offers study grants for virgin girls

A South African region on Friday said it had launched a new grant scheme for girls who remain virgins throughout the course of their university studies, triggering outrage among rights groups. The bursary offered in Uthukela,in the south-east of the count
Published 23 Jan, 2016 12:00am
French president to seek renewal three-month state of emergency

French president to seek renewal three-month state of emergency

French President Francois Hollande will seek to renew the three-month state of emergency imposed following the deadly Paris attacks in November, the president's office said Friday. He will ask his cabinet on February 3 to approve a draft law to extend the
Published 23 Jan, 2016 12:00am
Transfers, postings in FBR

Transfers, postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted 34 officers of IR Service (BS-17-20) with immediate effect. According to a notification issued here on Friday, Syed Maroof Gilani (IR Service/BS-20) has been transferred from Commissioner, (IP/
Published 23 Jan, 2016 12:00am
Muslim states urged to stop terror financing

Muslim states urged to stop terror financing

The Pakistan delegation, participating in the 11th General Assembly meetings of the Parliamentary Union of the Islamic Countries, being held in the Iraqi Capital Baghdad, has called on the Muslim countries to put actions into their words when it comes to
Published 23 Jan, 2016 12:00am
KE confiscates almost 2,000 illegal connections

KE confiscates almost 2,000 illegal connections

K-Electric under its ongoing 'Operation Burq' campaign raided different areas of the City including Orangi, Lyari, Baldia, Uthal, Site amongst others. Almost 2,000 illegal connections were pulled down and confiscated from different areas whereas these ill
Published 23 Jan, 2016 12:00am
ATC awards 33-year imprisonment to Lyari gangster

ATC awards 33-year imprisonment to Lyari gangster

Notorious gangster involved in Lyari's gang-war was awarded collective 33-year imprisonment with Rs 125,000 fine. An Anti-Terrorism Court (ATC) convicted the gangster Sikandar Lasi on Friday. Police arrested Lasi after an encounter in Rehmani Chowk on 20t
Published 23 Jan, 2016 12:00am
Sanghar, Badin LG polls 250 SSU commandos to be deployed

Sanghar, Badin LG polls 250 SSU commandos to be deployed

A total 250 Commandos of SSU headed by senior officers will perform duties to maintain law and order during local bodies elections scheduled on January 23 in Sanghar and Badin districts, on the directives of AIGP Security of Special Security Unit Maqsood
Published 23 Jan, 2016 12:00am
Afghan Taliban to attend crisis group's conference in Doha

Afghan Taliban to attend crisis group's conference in Doha

The Afghan Taliban say they will attend a conference organized by an international crisis group on resolving the war in Afghanistan The Taliban said Friday that representatives of their "political office" will attend the conference in Qatar's capital, Doh
Published 23 Jan, 2016 12:00am
Gas shortage in Sialkot: Consumers seek intervention of Ombudsman

Gas shortage in Sialkot: Consumers seek intervention of Ombudsman

Consumers are facing serious hardships due to low gas pressure in severe cold weather in Sialkot district. With the advent of winter, the problem of low gas pressure being confronted by the domestic consumers gets aggravate. The housewives said that they
Published 23 Jan, 2016 12:00am
PTI accuses government of trying to run Parliament by remote control

PTI accuses government of trying to run Parliament by remote control

The Pakistan Tehreek-e-Insaf (PYI) party in the Punjab has accused the government of attempting to run the Parliament by remote control, instead of by the law of the land. "With the enforcement of an amnesty scheme to convert black money into white money,
Published 23 Jan, 2016 12:00am
McDonald's organises KUS Championship

McDonald's organises KUS Championship

McDonald's and Karachi United organized Karachi United Schools Championship 2015-16 to promote sports and active balanced lifestyle in the youth. The Lyceum School won the finals of Karachi United Schools Championship defeating Foundation Public School on
Published 23 Jan, 2016 12:00am
UBL, ICBC sign strategic business collaboration

UBL, ICBC sign strategic business collaboration

United Bank Limited (UBL) signed a Memorandum of Understanding (MoU) with the Industrial & Commercial Bank of China (ICBC) at a ceremony recently. Wajahat Husain, President & CEO UBL and Alex He Shenghu, CEO ICBC Pakistan were present at the ceremony. Sen
Published 23 Jan, 2016 12:00am
15,000 tons of rice gifted to Cuba

15,000 tons of rice gifted to Cuba

Trading Corporation of Pakistan (TCP) dispatched some 15,000 tons rice to Cuba as a gift from people of Pakistan. Sources told Business Recorder on Friday that it was after a long gap that the state-run grain trader has made a export shipment of ri
Published 23 Jan, 2016 12:00am
Sindh government to revive Keti Bander port: chief minister

Sindh government to revive Keti Bander port: chief minister

The Sindh government has finally decided to revive Keti Bander port along with setting up of a 10,000-megawatt coal-fired power plant. This was stated by Sindh Chief Minister Syed Qaim Ali Shah at a meeting held with a high-powered Chinese delegation on F
Published 23 Jan, 2016 12:00am
Chairman Water Environment Forum visits OICCI

Chairman Water Environment Forum visits OICCI

Chairman Water Environment Forum Nisar A. Memon visited the OICCI to give a talk on the climate change challenges. He was welcomed by President OICCI Atif Bajwa, Vice President Shahab Rizvi and Secretary General M Abdul Aleem. Memon highlighted that clima
Published 23 Jan, 2016 12:00am
Tannery zone to have waste management system

Tannery zone to have waste management system

The tannery zone at Korangi Industrial Area, Sector 7A, will soon have a proper solid waste management system in order to clear all the dumps and hazardous waste from the area. This was announced by Managing Director, Sindh Solid Waste Management Board, R
Published 23 Jan, 2016 12:00am
105 expensive cell phones recovered from passenger

105 expensive cell phones recovered from passenger

Model Customs Collectorate (MCC) Preventive on Friday claimed to have seized 105 expensive cell phones from a passenger arrived from Dubai. According to details, passenger Muhammad Ali Shah, who came to Karachi via EK600 from Dubai, was intercepted by MCC
Published 23 Jan, 2016 12:00am
PN supplies 385 tons of fresh water to Gwadar

PN supplies 385 tons of fresh water to Gwadar

Pakistan Navy has always been forthcoming in service of nation through its relief and rehabilitation support, whether be it an earthquake, flood or any natural calamity. The prevalent scarcity of water in Balochistan due scanty water resources and margina
Published 23 Jan, 2016 12:00am
Registration of Qinqi rickshaws may be delayed

Registration of Qinqi rickshaws may be delayed

The process of fitness, safety and registration of Qinqi rickshaws could be delayed for one-year as the Sindh Transport Department has identified 17 engineering defects in these rickshaws that need to be rectified by their manufacturing companies first fo
Published 23 Jan, 2016 12:00am
PBIF chief for full implementation of NAP

PBIF chief for full implementation of NAP

President, Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has underlined the need to fully implement National Action Plan (NAP). Terming attack on Bacha Khan University as attack on the future of the nation, Hussain said that arm
Published 23 Jan, 2016 12:00am
MoU signed for setting up of CPII
Exchange

MoU signed for setting up of CPII

Pakistan China Friendship Association, BMA Capital Management Ltd, Gorntazy Capital Partners Ltd and International Green Economy Association on Friday signed a Memorandum of Understanding (MoU) for the establishment of a China Pakistan Private Economic an
Published 23 Jan, 2016 12:00am
ATC accepts Waseem Akhtar's interim bail

ATC accepts Waseem Akhtar's interim bail

An anti-Terrorism Court (ATC) on Friday accepted the interim bail of Muttahida Qaumi Movement (MQM) leader and nominated mayor Waseem Akhtar in 21 cases regarding the hate speech. The bail in four cases of hate speech was accepted over Rs 10,000 Surety bo
Published 23 Jan, 2016 12:00am
Three companies from Pakistan to attend Automechanika Jeddah

Three companies from Pakistan to attend Automechanika Jeddah

Three exhibitors from Pakistan are participating in Automechanika Jeddha, Saudi Arabia's leading regional trade fair for the automotive industry scheduled to be held from January 26 to 28, 2016. Automechanika Jeddah is set to represent this emerging marke
Published 23 Jan, 2016 12:00am
Bacha Khan varsity attack: KU professors stage solidarity rally

Bacha Khan varsity attack: KU professors stage solidarity rally

The professors of University of Karachi staged a rally on Friday to express solidarity with the victims of Bacha Khan University attack. Speaking on the occasion, KU Vice-Chancellor Dr Mohammad Qaiser condemned the terrorist attack and said that the whole
Published 23 Jan, 2016 12:00am
'Orange Line Project has no link with CPEC'

'Orange Line Project has no link with CPEC'

The spokesman of Punjab government has clarified that 'Lahore Orange Line Metro Train Project' has no link with China Pakistan Economic Corridor (CPEC) and the remarks attributed to Khawaja Haris during the hearing of the case have no relevance with the s
Published 23 Jan, 2016 12:00am
60 firms get international CSR awards

60 firms get international CSR awards

Leading national and international companies received awards for their commendable performance in 30 different categories of Corporate Social Responsibility during the past one year at a ceremony of 8th International CSR Summit and Awards-2016 organized b
Published 23 Jan, 2016 12:00am
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