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Print - 2016-01-23
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
Gold falls in Europe
Exchange

Gold falls in Europe

Gold fell on Friday as hints of more monetary stimulus from the European Central Bank weighed on the euro and pushed European shares 3 percent higher, denting appetite for alternative assets, while oil rebounded. Benchmark Brent crude futures, which fuell
Published 23 Jan, 2016 12:00am
Gold slips in Asia

Gold slips in Asia

Gold slipped on Friday as the euro fell after the European Central Bank hinted at further policy easing amid turmoil in global markets and weaker growth across emerging economies. Fading growth and inflation prospects will force the ECB to review its poli
Published 23 Jan, 2016 12:00am
Gold dips in New York

Gold dips in New York

Gold fell on Thursday after posting its biggest one-day gain in two weeks the day before, as hints of further stimulus from the European Central Bank hurt the euro and a rebound in global stocks curbed risk aversion. Turmoil in financial markets and conce
Published 23 Jan, 2016 12:00am
Cocoa recovers
Exchange

Cocoa recovers

Cocoa futures on ICE rose above multimonth lows on Friday, shrugging off weak North American grind numbers after Asian data showed the region had a strong quarter, while the New York market got an additional boost from a firm British sterling. Coffee pric
Published 23 Jan, 2016 12:00am
Palm oil rebounds
Exchange

Palm oil rebounds

Malaysian palm oil futures rebounded on Friday from a near one-week low in the previous session, supported by expectations of lower output and as traders covered their short positions ahead of a long holiday weekend. The palm oil contract for April on the
Published 23 Jan, 2016 12:00am
Corn snaps winning streak; wheat, soya up

Corn snaps winning streak; wheat, soya up

US corn futures fell on Thursday, breaking a three-day streak of gains, as a pick-up in country movement of the yellow grain pulled prices from one-month highs hit early in the session, traders said. Wheat and soyabean futures closed firm, bouncing back f
Published 23 Jan, 2016 12:00am
Rubber surges
Exchange

Rubber surges

Benchmark Tokyo rubber futures hit a near 4-week high on Friday, gaining more than two percent on the week, taking a cue from Tokyo stocks that jumped nearly 6 percent after a hint of more monetary policy support from the European Central Bank. The Tokyo
Published 23 Jan, 2016 12:00am
Copper hits two-week high on oil rally, Chinese demand
Exchange

Copper hits two-week high on oil rally, Chinese demand

Copper hit a two-week high on Friday and posted its biggest weekly gain since early October as oil prices jumped 8 percent and Chinese physical premiums gained ground. Oil looked poised to record its first weekly gain this year, tempting investors back in
Published 23 Jan, 2016 12:00am
Shanghai copper up
Exchange

Shanghai copper up

Shanghai Futures Exchange copper was finished up 0.5 percent at 35,190 yuan ($5,350) on Friday. China's copper premiums rose to $95-$100 this week, the highest since late October. Hopes for more policy stimulus in Europe and also Japan offered a much-need
Published 23 Jan, 2016 12:00am
Cotton futures edge higher as markets rebound on stimulus hopes
Cotton

Cotton futures edge higher as markets rebound on stimulus hopes

Cotton futures advanced on Thursday, supported by a rebound in commodities and stock markets after European Central Bank President Mario Draghi raised hopes for further monetary stimulus. "The cotton market was up today because the stock market was up tod
Published 23 Jan, 2016 12:00am
CEO of WEF lauds economic turnaround

CEO of WEF lauds economic turnaround

Professor Klaus Schwab, Chairman of the World Economic Forum Friday lauded the economic turnaround of Pakistan and said the country underwent a major positive change since 2013. Schwab made the comments here at the WEF Congress Centre in his meeting with
Published 23 Jan, 2016 12:00am
CEO of WEF lauds economic turnaround

CEO of WEF lauds economic turnaround

Professor Klaus Schwab, Chairman of the World Economic Forum Friday lauded the economic turnaround of Pakistan and said the country underwent a major positive change since 2013. Schwab made the comments here at the WEF Congress Centre in his meeting with
Published 23 Jan, 2016 12:00am
FBR conducts analysis of withholding taxes

FBR conducts analysis of withholding taxes

In order to generate additional revenue through withholding taxes, the Federal Board of Revenue (FBR) has conducted analysis of withholding taxes collected by each Large Taxpayer Unit (LTU) and Regional Tax Offices (RTO) for recovery of outstanding amount
Published 23 Jan, 2016 12:00am
'Government upbeat about retaining GSP Plus status for next 8 years'

'Government upbeat about retaining GSP Plus status for next 8 years'

The government is upbeat about retaining GSP Plus status for next eight years as challenges in implementation of 27 International UN Conventions on human rights, labour rights, and environment have almost been overcome. An official told Business Record
Published 23 Jan, 2016 12:00am
Nepra orders Bahria Town to refund/adjust overcharged amount

Nepra orders Bahria Town to refund/adjust overcharged amount

National Electric Power Regulatory Authority (Nepra) has ordered Bahria Town (Pvt) Ltd to refund/adjust the amount overcharged from its consumers and submit a report on quarterly basis in this regard. The decision was made by Nepra in a case filed by Bahr
Published 23 Jan, 2016 12:00am
Jail trial of accused in Imran Farooq murder case

Jail trial of accused in Imran Farooq murder case

Islamabad Capital Territory (ICT) administration on Friday issued a notification with respect to holding proceeding of Muttahida Qaumi Movement (MQM) leader Dr Imran Farooq murder case inside Adyala jail. According to an official, following the directives
Published 23 Jan, 2016 12:00am
Constable suspended on corruption charges

Constable suspended on corruption charges

Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani on charges of corruption has suspended a constable with immediate effect and further ordered departmental enquiry against him. A citizen of Peshawar, Muhammad Ghufran Alam had submitt
Published 23 Jan, 2016 12:00am
Peshawar, Edinburgh declared twin cities

Peshawar, Edinburgh declared twin cities

The governments of Scotland and Khyber Pakhtunkhwa have agreed on declaring of Peshawar and Edinburgh as twin cities and initial process in this regard was started with immediate effect. Decision in this regard was taken in a meeting between the KP delega
Published 23 Jan, 2016 12:00am
Lal Masjid: Nisar criticised for not arresting cleric

Lal Masjid: Nisar criticised for not arresting cleric

The Federal Minister for Interior Chaudhry Nisar Ali Khan came under criticism in Senate on Friday for his earlier statement made in the House that hard-liner cleric of Lal Masjid Maulana Abdul Aziz could not be arrested as there was no criminal case or e
Published 23 Jan, 2016 12:00am
Need for strengthening disaster management system underscored

Need for strengthening disaster management system underscored

Major General Asghar Nawaz, Chairman National Disaster Management Authority (NDMA) has emphasised the need for further strengthening integrated disaster management system and co-ordination mechanism amongst all relevant stakeholders to ensure better prepa
Published 23 Jan, 2016 12:00am
AG Punjab resigns

AG Punjab resigns

The Punjab Advocate General has resigned from office citing ill health for his decision. On Friday, Naveed Rasool Mirza convoyed his resignation to the chief minister at a meeting and later the law secretary.
Published 23 Jan, 2016 12:00am
EPA Punjab asked to enforce Pollution Charge Rules

EPA Punjab asked to enforce Pollution Charge Rules

The Lahore High Court has told the Punjab Environmental Protection Agency to enforce the rules of pollution charge by forming an inquiry committee with the Lahore Chamber of Commerce and Industries. The agency has also been told to launch a report by Marc
Published 23 Jan, 2016 12:00am
Three suspected extremists killed in Awaran
Exchange

Three suspected extremists killed in Awaran

Three extremists were killed in an exchange of fire with security forces and weapons were recovered here on Friday. Spokesman of Frontier Corps (FC) said that on an intelligence tip-off regarding presence of outlaws, the paramilitary force conducted opera
Published 23 Jan, 2016 12:00am
'Prime Minister has not dissolved NTDC Board'

'Prime Minister has not dissolved NTDC Board'

The Spokesman at the Prime Minister House Friday clarified that Prime Minister Muhammad Nawaz Sharif had not dissolved the National Transmission and Despatch Company Board under Ministry of Water and Power. The Spokesman said in a statement that the media
Published 23 Jan, 2016 12:00am
Ombudsman's office receives 3000 complaints in one year

Ombudsman's office receives 3000 complaints in one year

Wafaqi Mohtasib Hyderabad regional office received around 3000 complaints during last one year and 75 percent of the complaints were against HESCO. Director General Regional Office Wafaqi Mohtasib Hyderabad, Ahmed Khan Soomaro said this while talking to m
Published 23 Jan, 2016 12:00am
Kidnapping for ransom case: ATC extends remand of ASI, 6 others

Kidnapping for ransom case: ATC extends remand of ASI, 6 others

Anti-Terrorism Court (ATC) on Friday extended the physical remand of seven suspects, including an assistant sub inspector of police in kidnapping for ransom case. ASI Ikram Khan and 6 alleged accomplices have been accused of abducting people for ransom.
Published 23 Jan, 2016 12:00am
Speakers for effective implementation of NAP

Speakers for effective implementation of NAP

The government must ensure effective and full implementation of the unanimous national action plan to stamp out scourge of extremism and terrorism from the country. This was demanded by the participants of the protest demonstration entitled "Fighting Extr
Published 23 Jan, 2016 12:00am
Ebad urges students to get modern education, technology

Ebad urges students to get modern education, technology

Sindh Governor, Dr Ishrat-ul-Ebaad Khan has emphasised the students to build their capacity through modern education and technology to better serve the country. He was speaking to 40-member delegation of students from Lahore Convent School here at the Gov
Published 23 Jan, 2016 12:00am
Commissioner for improving financial health of Wasa

Commissioner for improving financial health of Wasa

Divisional Commissioner Hyderabad Shahid Pervaiz underlined the need to improve the financial health of Water and Sanitation Authority (Wasa) Hyderababd and recovery of water bill. He called upon Wasa employees to work hard for achieving the goals. He sai
Published 23 Jan, 2016 12:00am
TCS Cool Control service launched in Lahore

TCS Cool Control service launched in Lahore

TCS, Pakistan's leading courier delivery service, launched its Temperature Controlled Delivery service countrywide under the name TCS Cool Control. The launch in Lahore was preceded by the inauguration of a similar service in Karachi last week. The servic
Published 23 Jan, 2016 12:00am
Outbreak of Swine flu: death toll in Punjab rises to 18

Outbreak of Swine flu: death toll in Punjab rises to 18

The death-toll from a swine flu outbreak in the Punjab has now climbed to 18 as 53 more are being treated in hospitals. More cases have also been confirmed in at least 171 countries and territories claiming at least 139 lives. Punjab Health Services Direc
Published 23 Jan, 2016 12:00am
Rashid calls for 'change of mindset' to deal with terrorism

Rashid calls for 'change of mindset' to deal with terrorism

Federal Information Minister Senator Pervaiz Rashid has called for "change of mindset" to deal with the menace of terrorism in the wake of recent terror attack in Charsadda. In his address during a workshop arranged by the Punjab Police on Friday, the min
Published 23 Jan, 2016 12:00am
PIAF demands oil price fixation on fortnightly basis

PIAF demands oil price fixation on fortnightly basis

Pakistan Industrial and Traders Associations Front (PIAF) has demanded of the government to fix oil prices on fortnightly basis with a view to pass on quick relief to the public as well as trade and industry. The PIAF acting chairman Tanveer Ahmed Sufi an
Published 23 Jan, 2016 12:00am
Malik Sohail appointed FPCCI Chairman Coordination

Malik Sohail appointed FPCCI Chairman Coordination

President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Abdul Rauf Alam has appointed Malik Sohail Hussain as Chairman Co-ordination of the Apex Chamber. Sohail also served as Senior Vice President of Islamabad Chamber when Alam was pres
Published 23 Jan, 2016 12:00am
Monthly fuel price adjustment: APTMA Punjab rejects government plan

Monthly fuel price adjustment: APTMA Punjab rejects government plan

The All Pakistan Textile Mills Association Punjab has rejected a government plan of adjusting the prime ministerial announcement of Rs 3 per unit reduction in the industrial tariff to the monthly fuel price adjustment. Addressing a press conference on Fri
Published 23 Jan, 2016 12:00am
Use of cocaine on the rise: Acting DG ANF

Use of cocaine on the rise: Acting DG ANF

The use of the world's priciest party drug, cocaine is on the rise in the Pakistani society, Acting Director General Anti-Narcotics Force Brigadier Zahid Abdullah said on Friday. He was presiding over the ANF Force Commanders Conference at ANF Headquarter
Published 23 Jan, 2016 12:00am
LCCI greets VP of SAARC CCI for his re-election

LCCI greets VP of SAARC CCI for his re-election

The Lahore Chamber of Commerce and Industry (LCCI) has congratulated Iftikhar Ali Malik for his fifth time re-election as Vice President SAARC Chamber of Commerce & Industry and hoped that he would continue to use his best abilities for the promotion of t
Published 23 Jan, 2016 12:00am
Shahbaz orders redesigning of fodder cutter machines

Shahbaz orders redesigning of fodder cutter machines

Punjab Chief Minister Shahbaz Sharif said the incidents of chopping of human hands accidentally by fodder cutting machines was tragic and there was need for paying due attention to security features in the design of these machines to prevent such incident
Published 23 Jan, 2016 12:00am
Professor Manzoor visits DCU

Professor Manzoor visits DCU

The President of the Economic Cooperation Organisation Science Foundation, Professor Dr Manzoor Hussian Soomro on Friday visited the Government College University in Lahore following on invitation by the Office of Research, Innovation and Commercialisatio
Published 23 Jan, 2016 12:00am
Preparations being made to start Karachi-Gwadar ferry service

Preparations being made to start Karachi-Gwadar ferry service

All necessary preparations are being made to start Karachi-Gawadar-Karachi ferry service to facilitate the travellers. A comprehensive plan has been made following the directives of the Prime Minister to strengthen ports and shipping sector. Spokesperson
Published 23 Jan, 2016 12:00am
Attack on BKU: high-level body to investigate security arrangements

Attack on BKU: high-level body to investigate security arrangements

The Apex Committee Thursday constituted a high-level committee to investigate security arrangements on the day of terrorists' attack on Bacha Khan University. The committee headed by Commissioner, Peshawar Division will identify the officials responsible
Published 23 Jan, 2016 12:00am
KP chief minister gives cheque for Rs 15.4 million to teacher's father

KP chief minister gives cheque for Rs 15.4 million to teacher's father

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that the terrorism was not only the problem of the province rather it is an international issue and efforts were continued at global level for its elimination. He said that for ensuring internal se
Published 23 Jan, 2016 12:00am
Chief Collector North reviews establishment of dry port

Chief Collector North reviews establishment of dry port

Chief Collector (North) Sarwat Tahira Habib along with chairman, Khyber Pakhtunkhwa Chamber of Commerce & Industry (KPCCI), Standing Committee on Railways & Dry Port, Zia-ul-Haq Sarhadi visited Azakhel to review the establishment of the proposed dry port.
Published 23 Jan, 2016 12:00am
Two personnel of Elite police gunned down in Peshawar

Two personnel of Elite police gunned down in Peshawar

Two personnel of Elite Police force were gunned down by unknown armed persons in jurisdiction of Yakatoot Police Station, here on Friday morning. Police sources said two personnel of elite police identified as Shah Zeb and Fahan were on way for duty when
Published 23 Jan, 2016 12:00am
ECP formally postpones LG by-polls in KP

ECP formally postpones LG by-polls in KP

Election Commission of Pakistan (ECP) on Friday officially announced postponement of the LG by elections in the Khyber Pakthuknwa province for indefinite period in the wake of carnage at Bacha Khan University Charsadda. The new date for LG by polls would
Published 23 Jan, 2016 12:00am
PTA rejects reports on Afghan SIMs

PTA rejects reports on Afghan SIMs

Apropos some stories published in a section of press regarding Afghan SIMs, it is clarified that the information contained in these stories is incorrect and inaccurate. To address the spillover effects of mobile signals at Pak Afghan Border, the PTA had a
Published 23 Jan, 2016 12:00am
ERRA warns of action over project delays

ERRA warns of action over project delays

The Earthquake Reconstruction, Rehabilitation Authority (ERRA) Friday ordered all the contractors to timely complete their projects, otherwise stern action will be taken against them. These warnings were issued at a high-level meeting chaired by the Actin
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
'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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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