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Dec 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-01-28
A lacklustre grain market
Cotton

A lacklustre grain market

Lacklustre condition was seen on the wholesale grain market on Wednesday in the process of trading, dealers said. On the seeds side, cottonseeds oilcake with bag low type gave up by Rs 75 to Rs 2000 and best variety was inert at Rs 2100, they said. Prices
Published 28 Jan, 2016 12:00am
EasyJet says travel security fears keeping fares lower

EasyJet says travel security fears keeping fares lower

British low-cost airline easyJet said security fears hit demand at the end of 2015 and the pressure on ticket prices was still being felt, though a recovery was underway. Attacks in November that killed 130 people in Paris, one of the world's most visited
Published 28 Jan, 2016 12:00am
Indonesia sells 4.06 trillion rupiah of Islamic bonds

Indonesia sells 4.06 trillion rupiah of Islamic bonds

Indonesia's finance ministry sold 4.055 trillion rupiah ($291.83 million) of Islamic bonds at an auction, slightly above the indicative target of 4 trillion rupiah, its financing and risk management office said on Tuesday. The weighted average yield of th
Published 28 Jan, 2016 12:00am
Indonesia sells 4.06 trillion rupiah of Islamic bonds

Indonesia sells 4.06 trillion rupiah of Islamic bonds

Indonesia's finance ministry sold 4.055 trillion rupiah ($291.83 million) of Islamic bonds at an auction, slightly above the indicative target of 4 trillion rupiah, its financing and risk management office said on Tuesday. The weighted average yield of th
Published 28 Jan, 2016 12:00am
Christie's auction house posts first loss in five years

Christie's auction house posts first loss in five years

London-based Christie's International, the world's leading auction house by revenue, on Tuesday reported a five percent fall in annual sales with economic uncertainty damping demand in emerging markets. Bucking five straight years of growth, the company r
Published 28 Jan, 2016 12:00am
Christie's auction house posts first loss in five years

Christie's auction house posts first loss in five years

London-based Christie's International, the world's leading auction house by revenue, on Tuesday reported a five percent fall in annual sales with economic uncertainty damping demand in emerging markets. Bucking five straight years of growth, the company r
Published 28 Jan, 2016 12:00am
Slovenian banks in profit

Slovenian banks in profit

Slovenian banks notched up a combined net profit of 209.6 million euros ($227 million) in the first 11 months of 2015, the central bank said on Tuesday, after they almost pushed the tiny ex-Yugoslav republic into an international bailout in 2013. The figu
Published 28 Jan, 2016 12:00am
Slovenian banks in profit

Slovenian banks in profit

Slovenian banks notched up a combined net profit of 209.6 million euros ($227 million) in the first 11 months of 2015, the central bank said on Tuesday, after they almost pushed the tiny ex-Yugoslav republic into an international bailout in 2013. The figu
Published 28 Jan, 2016 12:00am
LG Electronics quarterly profit jumps
Exchange

LG Electronics quarterly profit jumps

South Korea's LG Electronics Inc booked a 27 percent jump in fourth-quarter operating profit, as its high margin TVs and premium washing machines found favour with consumers. Weaker demand for consumer electronics globally has been clouding the outlook fo
Published 28 Jan, 2016 12:00am
LG Electronics quarterly profit jumps
Exchange

LG Electronics quarterly profit jumps

South Korea's LG Electronics Inc booked a 27 percent jump in fourth-quarter operating profit, as its high margin TVs and premium washing machines found favour with consumers. Weaker demand for consumer electronics globally has been clouding the outlook fo
Published 28 Jan, 2016 12:00am
France must do better to cut unemployment: central bank head

France must do better to cut unemployment: central bank head

Economic reforms such as cutting labour costs are a step in the right direction, but France can and must do more to reduce a record jobless rate, the head of its central bank said in a newspaper interview. The government was already giving companies tax b
Published 28 Jan, 2016 12:00am
Brazil defaults hit three-year high; loan growth slows sharply

Brazil defaults hit three-year high; loan growth slows sharply

Bank loans overdue for at least 90 days in Brazil rose in December to their highest in over three years, the central bank said on Wednesday, as the deepest recession in decades and rising credit costs strained borrowers' capacity to stay current on their
Published 28 Jan, 2016 12:00am
Panama economy picks up in November

Panama economy picks up in November

Panama's economy gained some steam in November compared to the same period a year earlier, the government said on Monday. The economy grew 4.31 percent, up from 4.25 percent in October, driven largely by a boost in telecommunications and transportation. P
Published 28 Jan, 2016 12:00am
SK Hynix Q4 profit slumps, January-March outlook uncertain

SK Hynix Q4 profit slumps, January-March outlook uncertain

South Korea's SK Hynix Inc said fourth-quarter profit tumbled 41 percent to a two-year low on slowing semiconductor sales and warned of uncertain demand heading into the seasonally weak January-March quarter. The firm also said it expects market condition
Published 28 Jan, 2016 12:00am
SK Hynix Q4 profit slumps, January-March outlook uncertain

SK Hynix Q4 profit slumps, January-March outlook uncertain

South Korea's SK Hynix Inc said fourth-quarter profit tumbled 41 percent to a two-year low on slowing semiconductor sales and warned of uncertain demand heading into the seasonally weak January-March quarter. The firm also said it expects market condition
Published 28 Jan, 2016 12:00am
Italy, EU reach accord to help Italian banks shed bad loans

Italy, EU reach accord to help Italian banks shed bad loans

The European Commission and Italy have reached an accord over measures to help Italian banks sell some of their pile of some 200 billion euros ($217.04 billion) of non-performing loans, a Commission spokesman said on Tuesday. The deal, which follows almos
Published 28 Jan, 2016 12:00am
Boeing offers weak 2016 outlook; shares plunge 9 percent

Boeing offers weak 2016 outlook; shares plunge 9 percent

Boeing warned Wednesday that company revenues and aircraft deliveries could fall in 2016 and forecast profits well below what analysts were expecting after a fourth quarter slowdown last year. Shares of the aerospace giant fell a sharp 9.6 percent to $115
Published 28 Jan, 2016 12:00am
Boeing offers weak 2016 outlook; shares plunge 9 percent

Boeing offers weak 2016 outlook; shares plunge 9 percent

Boeing warned Wednesday that company revenues and aircraft deliveries could fall in 2016 and forecast profits well below what analysts were expecting after a fourth quarter slowdown last year. Shares of the aerospace giant fell a sharp 9.6 percent to $115
Published 28 Jan, 2016 12:00am
EC shocks market with TLAC harmonisation push

EC shocks market with TLAC harmonisation push

Efforts by the European Commission to integrate global loss-absorbing rules in Europe in a harmonised way has caused consternation among debt market participants, who fear it could move the goal posts for bank capital requirements once again.
Published 28 Jan, 2016 12:00am
Apple reports slowest iPhone sales since 2007 launch

Apple reports slowest iPhone sales since 2007 launch

Apple reported Tuesday the slowest sales ever of its market-leading iPhone, after years of rocketing growth, but the tech giant still posted record quarterly profit. Net income for the quarter ending December 26 was two percent higher than the same period
Published 28 Jan, 2016 12:00am
New US single-family home sales race to 10-month high

New US single-family home sales race to 10-month high

New US single-family home sales surged in December to their highest level in 10 months, the latest indication that the housing sector remains on a firmer footing despite a massive stock market sell-off and slowing economic growth. The Commerce Department
Published 28 Jan, 2016 12:00am
STMicroelectronics to shed 1,400 jobs

STMicroelectronics to shed 1,400 jobs

Franco-Italian semiconductor manufacturer STMicroelectronics said Wednesday it was halting development of new TV set-top decoders, a step which will lead to the elimination of around 1,400 jobs. "This difficult decision is consistent with our strategy to
Published 28 Jan, 2016 12:00am
Refugees to keep German economy ticking over

Refugees to keep German economy ticking over

Germany on Wednesday trimmed back its economic forecast for this year but insisted Europe's top economy remained "in good shape", with the refugee influx likely to boost short-term domestic demand. In its annual economic report, the government said it exp
Published 28 Jan, 2016 12:00am
Tough Russian budget rhetoric masks laxer reality

Tough Russian budget rhetoric masks laxer reality

A Russian plan to cut 10 percent from this year's budget is at best misleading. Once the government has protected President Vladimir Putin's favoured spending areas such as welfare and defence, it will struggle to make savings worth a third of that. The p
Published 28 Jan, 2016 12:00am
Rouhani in France for business deal bonanza

Rouhani in France for business deal bonanza

Iranian President Hassan Rouhani arrived in France on Wednesday for an official visit during which he is expected to sign a host of commercial deals. The visit, the first to France by an Iranian president since 1999, is the second leg of a trip signalling
Published 28 Jan, 2016 12:00am
Dubai visitors up 7.5 percent to more than 14 million
Exchange

Dubai visitors up 7.5 percent to more than 14 million

More than 14.2 million people visited Dubai in 2015, up 7.5 percent from the previous year, with Indians, Saudis and Britons topping the list. The rise came despite slowing economic growth in many markets and a strong exchange rate of the Gulf state's dol
Published 28 Jan, 2016 12:00am
Sri Lankan shares fall for third day

Sri Lankan shares fall for third day

Sri Lankan stocks fell for a third straight session on Wednesday to a one-week closing low amid foreign outflow as investors worried over volatile global markets and rising returns on risk-free assets. The main stock index ended 0.1 percent, or 6.41 point
Published 28 Jan, 2016 12:00am
Tokyo stocks surge
Exchange

Tokyo stocks surge

Tokyo stocks surged 2.72 percent Wednesday as investors focus on the US and Japanese central banks' first meetings of 2016, while rallies in car titan Toyota and Suzuki also provided strong support. Dealers are keeping a close eye on the outcome of the po
Published 28 Jan, 2016 12:00am
Wednesday's early trade: Apple, Boeing drag down indexes

Wednesday's early trade: Apple, Boeing drag down indexes

Apple and Boeing's disappointing forecasts dragged down US stock indexes on Wednesday, as anxious investors awaited the Federal Reserve's statement on monetary policy. Apple's shares were down 5.3 percent at $94.67 after the company also reported its slow
Published 28 Jan, 2016 12:00am
Oil fuels 'schizophrenic' rebound on Wall Street
Exchange

Oil fuels 'schizophrenic' rebound on Wall Street

Wall Street rebounded over 1 percent on Tuesday, driven by a surge in oil prices and strong quarterly results from 3M, Johnson & Johnson and Procter & Gamble. All 10 major S&P sectors ended higher, led by a 3.78-percent rise in the energy sector. Crude pr
Published 28 Jan, 2016 12:00am
Hong Kong shares up

Hong Kong shares up

Hong Kong shares finished higher on Wednesday, bucking sliding onshore markets as bargain hunters sought attractively-priced shares. The Hang Seng index rose 1.0 percent, to 19,052.45, while the China Enterprises Index gained 0.8 percent, to 7,959.51 poin
Published 28 Jan, 2016 12:00am
Bond prices rise on dovish Fed concerns

Bond prices rise on dovish Fed concerns

US Treasury debt prices were slightly higher on Tuesday as the Federal Reserve began its two-day meeting, with investors anticipating the meeting would conclude with a dovish statement by the central bank saying it will not raise rates as many times as it
Published 28 Jan, 2016 12:00am
Bond prices rise on dovish Fed concerns

Bond prices rise on dovish Fed concerns

US Treasury debt prices were slightly higher on Tuesday as the Federal Reserve began its two-day meeting, with investors anticipating the meeting would conclude with a dovish statement by the central bank saying it will not raise rates as many times as it
Published 28 Jan, 2016 12:00am
Australian shares fall

Australian shares fall

Australian shares dropped 1.2 percent on Wednesday, led by another slide in Chinese equity markets, as well as energy and banking stocks, while New Zealand ended flat. The S&P/ASX 200 index closed down 60.2 points at 4,946.40, but was well off a two-year
Published 28 Jan, 2016 12:00am
China shares end lower, taking 2016 losses to $1.8 trillion
Currency

China shares end lower, taking 2016 losses to $1.8 trillion

China's highly volatile shares ended lower again on Wednesday after plunging on Tuesday, taking losses in 2016 to about 22 percent or 12 trillion yuan ($1.8 trillion). The benchmark Shanghai Composite Index ended down 0.5 percent, having been up in the mo
Published 28 Jan, 2016 12:00am
European shares pushed down as weak earnings weigh on markets

European shares pushed down as weak earnings weigh on markets

European shares fell on Wednesday, hit by a drop in Swiss drugmaker Novartis and German chemicals company BASF after their weak earnings updates. Royal Bank of Scotland also dropped after the bank warned its profits would be hit by a pension charge and US
Published 28 Jan, 2016 12:00am
Southeast Asian stocks up

Southeast Asian stocks up

Southeast Asian stock markets rose on Wednesday, led by the Philippines, ahead of the US Federal Reserve's monetary policy statement due out later in the day. The Philippine stock index ended 3.1 percent firmer near a three-week high, led by financials. T
Published 28 Jan, 2016 12:00am
Indian stocks flat

Indian stocks flat

Indian stocks ended flat in a volatile session on Wednesday as investors avoided risky bets ahead of the expiry of January derivatives contracts on Thursday and a US Federal Reserve policy statement due later in the day. The broader NSE index gained margi
Published 28 Jan, 2016 12:00am
FTSE edges up as oil regains ground, though RBS slips
Currency

FTSE edges up as oil regains ground, though RBS slips

Britain's bluechip share index edged higher on Wednesday and erased losses made earlier in the day as the price of oil steadied, easing pressure on mining and energy stocks from concerns surrounding ample supplies and low demand. The UK oil and gas index
Published 28 Jan, 2016 12:00am
Dollar awaits Fed outcome in Asia

Dollar awaits Fed outcome in Asia

The dollar struggled to gain traction on Wednesday as markets awaited clues on interest rate policy from the Federal Reserve, while the Australian dollar rose after one measure of domestic inflation was slightly higher than expected. The dollar index last
Published 28 Jan, 2016 12:00am
Dollar struggles for traction in Europe
Currency

Dollar struggles for traction in Europe

The dollar struggled to gain traction on Wednesday as investors awaited the outcome of a Federal Reserve meeting for clues on whether bets on a single US interest rate rise in 2016 are justified. With investors largely in wait-and-see mode before the Fed,
Published 28 Jan, 2016 12:00am
Early trade in New York: Dollar slips as markets await Fed

Early trade in New York: Dollar slips as markets await Fed

The dollar edged lower against a basket of major currencies on Wednesday as oil declined and investors awaited the Federal Reserve's statement for clues on whether bets on a single US interest rate rise in 2016 are justified. Fed fund futures are implying
Published 28 Jan, 2016 12:00am
Dollar rises versus yen, franc in New York but down overall
Exchange

Dollar rises versus yen, franc in New York but down overall

A recovery in oil prices pushed the dollar higher against the safe-haven yen and Swiss franc on Tuesday, but it fell overall as sterling rose and the oil-linked Canadian dollar surged. With crude oil prices near 13-year lows, senior officials of the Organ
Published 28 Jan, 2016 12:00am
Yuan edges up
Currency

Yuan edges up

China's yuan edged up against the dollar on Wednesday after the central bank set a firmer midpoint and state media warned billionaire investor George Soros against betting on falls in the Chinese currency and Hong Kong dollar. The People's Bank of China s
Published 28 Jan, 2016 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 78.50-78.50 (previous 78.50-78.50). 02.50-04.50 percent (* Previous 02.00-04.50 percent). (* revised).
Published 28 Jan, 2016 12:00am
Sri Lankan rupee steady
Currency

Sri Lankan rupee steady

The Sri Lankan rupee closed unchanged on Wednesday amid importer dollar demand and foreign outflows from t-bonds, as banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said. "We saw foreign investors selling some bon
Published 28 Jan, 2016 12:00am
Oil bounce helps Asia FX gain
Currency

Oil bounce helps Asia FX gain

Emerging Asian currencies crawled higher on Wednesday helped by a rally in oil prices, while investors waited to see if the US Federal Reserve would signal that it will tighten policy more gradually due to the sluggish global economy. Regional units lost
Published 28 Jan, 2016 12:00am
Weaker stock markets, oil push sterling down
Currency

Weaker stock markets, oil push sterling down

Falls in European and US stock markets along with oil put sterling under pressure on Wednesday, with investors also cautious before the fourth-quarter reading of UK gross domestic product, likely to show annual growth slowing. Gross domestic product data,
Published 28 Jan, 2016 12:00am
Aussie gains after inflation wrong-foots speculators
Currency

Aussie gains after inflation wrong-foots speculators

The Australian dollar was squeezed higher on Wednesday after one measure of inflation came slightly above forecasts, even as restrained price pressures overall suggested there was room for further cuts in interest rates. The New Zealand dollar consolidate
Published 28 Jan, 2016 12:00am
Ibrahimovic gets 700,000 euro pay boost

Ibrahimovic gets 700,000 euro pay boost

Paris Saint-Germain's star striker Zlatan Ibrahimovic has been handed a 700,000 euros ($760,000) monthly pay-rise making him by far the highest-paid footballer in France, Le Parisien newspaper reported on Wednesday. The 34-year-old Swede, who joined the c
Published 28 Jan, 2016 12:00am
Match-fixing claims spark major review into corruption fight

Match-fixing claims spark major review into corruption fight

Tennis authorities on Wednesday announced an independent review into their fight against corruption after a bombshell report alleging widespread match-fixing cast a shadow over the sport. In an announcement at the Australian Open, the ATP, WTA, ITF and th
Published 28 Jan, 2016 12:00am
Ramires joins Jiangsu in record China football deal

Ramires joins Jiangsu in record China football deal

Brazilian midfielder Ramires on Wednesday moved from Chelsea to Jiangsu Suning for a reported $35 million making him the biggest ever signing by a Chinese club. Chelsea said that a "permanent transfer" for the 28-year-old had been agreed, without giving d
Published 28 Jan, 2016 12:00am
Sheema declared best athlete as Jinnah College win trophy

Sheema declared best athlete as Jinnah College win trophy

Sheema Khan declared best athlete of the year-2016 as Jinnah College for Women (JCW) clinched the overall trophy of the University of Peshawar Inter-College Girls Games concluded here at JCW premises on Wednesday. Minister for Excise and Taxation KP Mian
Published 28 Jan, 2016 12:00am
US Consulate hosts youth football clinic

US Consulate hosts youth football clinic

US Consul General Brian Heath hosted a football clinic for street children at his residence. Pakistan football team captain Kaleemullah Khan, Azad Foundation Principal-Secretary Naveed Hasan Khan and US Consulate Cultural Attaché Griffin Rozell attended t
Published 28 Jan, 2016 12:00am
Pakistan, India to meet twice in next two month in T20Is

Pakistan, India to meet twice in next two month in T20Is

India and Pakistan will face off twice in 2 months in Twenty20 Internationals, first in Asia Cup and next in World T20 2016. World T20 schedule with Asia Cup being played in T20 format for the first time this year, India and Pakistan are scheduled to meet
Published 28 Jan, 2016 12:00am
Alam Al-Khayal Junior Tennis enters into final round

Alam Al-Khayal Junior Tennis enters into final round

The semi-final round of the second Alam Al-Khayal Junior National Tennis Championship ended on Wednesday, with a dozen matches being decided. In under-18 girls competitions, Noor Malik beat Maheen Khan by 6-1, 6-0. In the other semi final, Ayesha Jawad be
Published 28 Jan, 2016 12:00am
David Warner wins Allan Border medal

David Warner wins Allan Border medal

David Warner was named Australia's Test player of the year Wednesday, beating captain Steve Smith for the Allan Border Medal. Warner won Australian cricket's highest individual prize - judged on performances in Tests and one-dayers over the season - with
Published 28 Jan, 2016 12:00am
Lille punish Bordeaux to make first League Cup final

Lille punish Bordeaux to make first League Cup final

Lille eased past an error-strewn Bordeaux 5-1 on Tuesday to secure their first ever appearance in a French League Cup final. Their opponents in the April 23 final at the Stade de France will be the winner of Wednesday's semi-final between Paris Saint-Germ
Published 28 Jan, 2016 12:00am
'Idol' Graf teaches Kerber to believe
Kerb

'Idol' Graf teaches Kerber to believe

Angelique Kerber Wednesday credited German great Steffi Graf with giving her the belief that she can win big matches after upsetting Victoria Azarenka at the Australian Open. The seventh seed stunned the two-time champion 6-3, 7-5 to make the last four of
Published 28 Jan, 2016 12:00am
Spurs' 1961 double winner Baker dies

Spurs' 1961 double winner Baker dies

Peter Baker, a key player in Tottenham Hotspur's 1961 double winning side, died on Wednesday at the age of 84, Spurs announced. A right-back, the London-born Baker signed for Tottenham in June 1949 and went on to make 342 appearances. He achieved a lastin
Published 28 Jan, 2016 12:00am
Euro deputies hit out at FIFA candidates

Euro deputies hit out at FIFA candidates

European parliament deputies on Wednesday hit out at rival candidates for the FIFA leadership for not taking part in a debate on the future of football's world body. With the FIFA vote less than a month away, all but French former FIFA official Jerome Cha
Published 28 Jan, 2016 12:00am
Murray, Raonic thunder into last four

Murray, Raonic thunder into last four

Andy Murray set up an Australian Open semi-final against the much-improved Milos Raonic on Wednesday when he weathered a fierce attack by David Ferrer on a day of rare success for Britain. A thunderstorm proved an unlikely ally for Murray when it forced t
Published 28 Jan, 2016 12:00am
Israel feels the heat of US, EU and UN criticism

Israel feels the heat of US, EU and UN criticism

The United States, European Union and the United Nations have issued unusually stern criticism of Israel, provoking a sharp response from Prime Minister Benjamin Netanyahu and raising Palestinians' hopes of steps against their neighbour.
Published 28 Jan, 2016 12:00am
Air India bomber released from Canadian prison

Air India bomber released from Canadian prison

Inderjit Singh Reyat, the only person ever to be convicted in the 1985 Air India bombings, was released from a Canadian prison Wednesday after serving two decades behind bars. A spokesman for the Parole Board of Canada confirmed Reyat's statutory release
Published 28 Jan, 2016 12:00am
Astronomers spot widest solar system

Astronomers spot widest solar system

Astronomers have found the widest-known solar system, with a huge planet so far from its star that it takes nearly a million years to complete an orbit, according to a new study. Long thought to be a free-floating or lonely planet without a solar system "
Published 28 Jan, 2016 12:00am
EU blasts Greece over migrant crisis as seven more drown

EU blasts Greece over migrant crisis as seven more drown

Seven migrants drowned trying to reach Greece on Wednesday, as the European Union blasted Athens for its handling of the crisis, saying it had "seriously neglected" its duty to protect the bloc's borders. The European Commission said Greece could face bor
Published 28 Jan, 2016 12:00am
Restored Japanese Zero fighter takes to the skies in Japan

Restored Japanese Zero fighter takes to the skies in Japan

More than 70 years after striking fear into the hearts of Allied pilots, a restored Zero fighter took to the skies in southern Japan on Wednesday. Japan's most famous World War II fighter aircraft was developed by Mitsubishi Heavy Industries and was noted
Published 28 Jan, 2016 12:00am
French justice minister resigns

French justice minister resigns

French Justice Minister Christiane Taubira, a left-winger often at odds with her government on law and order matters, resigned on Wednesday, a victim of President Francois Hollande's lurch to the right on national security last year. Taubira had expressed
Published 28 Jan, 2016 12:00am
Bomb kills 4 soldiers in Egypt's Sinai

Bomb kills 4 soldiers in Egypt's Sinai

A bomb explosion killed an Egyptian colonel and three soldiers in North Sinai on Wednesday as their armoured vehicle passed by, security officials and emergency services said. The device was detonated from a distance as the vehicle was engaged in a search
Published 28 Jan, 2016 12:00am
Curfew widened in southeast Turkey; clashes kill 23

Curfew widened in southeast Turkey; clashes kill 23

Security forces killed 20 Kurdish militants in southeast Turkey while three Turkish soldiers died in a rebel attack, the military said on Wednesday, as authorities widened a curfew in the mainly Kurdish region's largest city, Diyarbakir. Hundreds of local
Published 28 Jan, 2016 12:00am
Coalition adapts Iraq training to breach IS defences

Coalition adapts Iraq training to breach IS defences

US-led coalition troops have adapted their training for Iraqi forces to teach them how to breach Islamic State group defences in larger-scale combined assaults on jihadist strongholds. IS, which overran large parts of Iraq in 2014, has saturated territory
Published 28 Jan, 2016 12:00am
US, China agree on need for new UN measure on North Korea
Exchange

US, China agree on need for new UN measure on North Korea

US Secretary of State John Kerry and Chinese Foreign Minister Wang Yi agreed on Wednesday on the need for a significant new UN Security resolution targeting North Korea after its January 6 nuclear test, though there were few signs of concrete progress. Ke
Published 28 Jan, 2016 12:00am
White House dropped $10 million claim in Iran prisoner deal
Exchange

White House dropped $10 million claim in Iran prisoner deal

Nader Modanlo was facing five more years in federal prison when he got an extraordinary offer: US President Barack Obama was ready to commute his sentence as part of this month's historic and then still-secret prisoner swap with Iran. He said no. To sweet
Published 28 Jan, 2016 12:00am
Bullet-proof car: IHC asked to decide case by next month

Bullet-proof car: IHC asked to decide case by next month

The Supreme Court on Wednesday asked Islamabad High Court (IHC) to decide a pending matter relating to provision of a bullet-proof vehicle to former Chief Justice Iftikhar Muhammad Chaudhry in the first week of February 2016. A three-member bench led by J
Published 28 Jan, 2016 12:00am
Container scam: SC seeks report from NAB about status of cases in ACs

Container scam: SC seeks report from NAB about status of cases in ACs

The Supreme Court on Wednesday sought a comprehensive report from National Accountability Bureau (NAB) pertaining to the current status of adjudication regarding the International Security Assistance Force's (ISAF) containers scam in accountability courts
Published 28 Jan, 2016 12:00am
Tribesmen have rendered immense sacrifices: Mahtab

Tribesmen have rendered immense sacrifices: Mahtab

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has said that they are determined to root out wave of militancy and ensure the bright future of our coming generations. He said that tribesmen had rendered great sacrifices and paid heavy price for the
Published 28 Jan, 2016 12:00am
Dr Asim accused of causing gas crisis in fertilizer sector?

Dr Asim accused of causing gas crisis in fertilizer sector?

The national exchequer suffered a colossal loss of big revenue on importing fertilizer for the agri-based economy of the country and this was not natural but was the result of minting money from the natural gas supply, which was all done under the instruc
Published 28 Jan, 2016 12:00am
Jubilee Life Insurance Company Limited

Jubilee Life Insurance Company Limited

As Jubilee Life (PSX:JLICL) and EFU Life battle out for the top spot in private sector life insurance space, there is a clear winner when it comes to the speed of business expansion. The former has been the fastest growing firm in its already rapidly expa
Published 28 Jan, 2016 12:00am
Jubilee Life Insurance Company Limited

Jubilee Life Insurance Company Limited

As Jubilee Life (PSX:JLICL) and EFU Life battle out for the top spot in private sector life insurance space, there is a clear winner when it comes to the speed of business expansion. The former has been the fastest growing firm in its already rapidly expa
Published 28 Jan, 2016 12:00am
Intel Pakistan's national science competition ends

Intel Pakistan's national science competition ends

The Intel Pakistan on Wednesday ended its national science competition by announcing the winners at the COMSATS Institute of Information Technology in Lahore. The winners will represent Pakistan at the Intel International Science & Engineering Fair 2016 t
Published 28 Jan, 2016 12:00am
Prime Minister returns home

Prime Minister returns home

Prime Minister Muhammad Nawaz Sharif arrived back at home on Wednesday after attended the annual meeting of the World Economic Forum (WEF) at Davos, Switzerland. The PM during his visit to Switzerland participated in a number of global events and held bil
Published 28 Jan, 2016 12:00am
Dr Asim's physical remand extended till February 9

Dr Asim's physical remand extended till February 9

An Accountability Court on Wednesday extended physical remand of former Petroleum Minister Dr Asim Hussain till February 9, in a case regarding corruption, money laundering and granting illegal contracts. The accused was produced by the National Accountab
Published 28 Jan, 2016 12:00am
Chevron to invest over $19 million in three years

Chevron to invest over $19 million in three years

Chevron Pakistan Lubricants, one of the country's leading lubricant firms, would invest over Rs 2 billion (approx $19 million) in Pakistan over the next three years to expand its business. An indirect subsidiary of international-acclaimed integrated energ
Published 28 Jan, 2016 12:00am
IGP, DG NAB KP exchange views on mutual interest
Exchange

IGP, DG NAB KP exchange views on mutual interest

Inspector General of Police (IGP) Khyber Pakhtunkhwa, Nasir Khan Durrani on Wednesday made a brief visit to Director General NAB Khyber Pakhtunkhwa. During the meeting they exchanged views on mutual interest and discussed achievements and progress of thei
Published 28 Jan, 2016 12:00am
Army schools in Karachi to remain closed till January 31

Army schools in Karachi to remain closed till January 31

All army schools in Karachi will remain closed till January 31 due to security reasons. The decisions to close the army schools in the metropolis were made on Tuesday night. The parents of the students enrolled in the schools were informed of the decision
Published 28 Jan, 2016 12:00am
PCDMA urges FBR to revise valuation prices of all imported goods

PCDMA urges FBR to revise valuation prices of all imported goods

Pakistan Chemicals and Dyes Merchant Association's (PCDMA) chairman Khawaja Arif has urged the chairman of the Federal Board of Revenue (FBR) to review customs valuation prices of all imported goods in accordance with the prices prevailing in the internat
Published 28 Jan, 2016 12:00am
Customs launches WeBOC system at Torkham
Cotton

Customs launches WeBOC system at Torkham

Pakistan Customs Tuesday launched the WeBOC (Web Based One Custom) system at Torkham Customs Station in a bid to comply with the current year's theme of World Custom Day of `Digital Customs, Progressive Engagement'. Collector Model Customs Collectorate (M
Published 28 Jan, 2016 12:00am
PBIF stresses need for making NTC more effective

PBIF stresses need for making NTC more effective

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has stressed the need for making National Tariff Commission (NTC) more effective by removing legislative hurdles. He also demanded of the Ministry of Commerce and Ministry
Published 28 Jan, 2016 12:00am
Panel formed to address issues facing textile industry
Cotton

Panel formed to address issues facing textile industry

The Standing Committee on Textile Industry Wednesday constituted a sub-committee to address the issues facing the textile sector. The standing committee met under the chairmanship of Member National Assembly (MNA) Khawaja Ghulam Rasool Koreja at the confe
Published 28 Jan, 2016 12:00am
Ban condoles Sahabzada Yaqub's death

Ban condoles Sahabzada Yaqub's death

United Nations Secretary-General Ban Ki-moon has expressed his condolences on the demise of Sahabzada Yaqub Khan, a former Pakistan foreign minister who also worked for the UN. "The secretary-general was saddened to learn of the death of Sahabzada Yaqub K
Published 28 Jan, 2016 12:00am
SSGC to solve KPC issues on priority basis: MD

SSGC to solve KPC issues on priority basis: MD

On the invitation of Head of Corporate Communication Department of Sui Southern Gas, Shahbaz Islam, the newly elected office-bearers and members of Governing Body of Karachi Press Club visited the head office of Sui Southern Gas this week. A. H. Khanzada,
Published 28 Jan, 2016 12:00am
StanChart launches OCP service facility for China Mobile

StanChart launches OCP service facility for China Mobile

Standard Chartered Bank, a market leader in electronic payments, takes yet another step towards digitisation by launching Round the Clock Remote Corporate Cheque Printing facility for China Mobile Pakistan (ZONG). The client can now print cheques any time
Published 28 Jan, 2016 12:00am
Functions, marriage halls: FBR concerned over poor collection of WHT

Functions, marriage halls: FBR concerned over poor collection of WHT

The Federal Board of Revenue (FBR) has expressed serious concern over the poor collection of withholding tax from functions/gatherings, marriage halls/lawns during 2015-16 and directed all Regional Tax Offices (RTOs) to improve collection of tax on functi
Published 28 Jan, 2016 12:00am
Input tax adjustment: DGI&I IR Islamabad unearths organised tax fraud

Input tax adjustment: DGI&I IR Islamabad unearths organised tax fraud

The Directorate General (Intelligence & Investigation - Inland Revenue) Islamabad has unearthed an organised tax fraud committed by a sales tax registered importer/exporter for fraudulently claiming input tax adjustment, causing huge loss to the national
Published 28 Jan, 2016 12:00am
Yaqoob Tai's funeral prayer offered

Yaqoob Tai's funeral prayer offered

Funeral prayer of Muhammad Yaqoob Tai, an elder brother of Grand Master Muhammad Ashraf Tai, was offered at Mamoor Masjid at Tariq Road, here on Wednesday. A large number of relatives, friends and journalists attended the funeral prayer. The deceased was
Published 28 Jan, 2016 12:00am
Telenor, Bookme.pk sign agreement to deliver online bus, movie tickets

Telenor, Bookme.pk sign agreement to deliver online bus, movie tickets

Aimed at further facilitating its customers in every possible way besides ensuring their digital inclusion, Telenor Pakistan has extended its partnership with Bookme.pk through which Easyshops across the country will be equipped with the facility to issue
Published 28 Jan, 2016 12:00am
Bank Al Habib earns Rs 7.404 billion profit in CY15

Bank Al Habib earns Rs 7.404 billion profit in CY15

The Board of Directors of Bank Al Habib Limited (BAHL) in their meeting held on Wednesday at Karachi, recommended a final cash dividend for the year ended December 31, 2015 at Rs 3.50 per share, ie 35 percent. According to unconsolidated profit and loss a
Published 28 Jan, 2016 12:00am
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