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Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-02-11
KP PDWP approves 75 projects worth Rs 22.817 billion

KP PDWP approves 75 projects worth Rs 22.817 billion

The Provincial Development Working Party (PDWP) held its meeting under the Chairmanship of Muhammad Azam Khan, the Additional Chief Secretary Khyber Pakhtunkhwa. The meeting was attended by its members and respective administrative Secretaries. The forum
Published 11 Feb, 2016 12:00am
Queen Maxima meets women entrepreneurs

Queen Maxima meets women entrepreneurs

Queen Maxima of Netherlands on Wednesday visited the First Women Bank Limited and met the women entrepreneurs and beneficiaries of the Prime Minister's Youth Loan Programme. The Queen appreciated the women who are running successful businesses ranging fro
Published 11 Feb, 2016 12:00am
70,000 workers sent abroad in January: POEPA

70,000 workers sent abroad in January: POEPA

Pakistan has sent 70,000 workers abroad during past month, mostly to the Middle Eastern (ME) countries despite global recession and shrinking job market, Pakistan Overseas Employment Promoters Association (POEPA) said Wednesday. Newly-elected chairman of
Published 11 Feb, 2016 12:00am
PTCL declares 20 percent cash dividend

PTCL declares 20 percent cash dividend

PTCL has announced its annual financial results for the year ended December 31, 2015 in a meeting of PTCL Board of Directors held at Islamabad. PTCL has declared 20 percent final cash dividend, inclusive of 10 percent interim dividend. PTCL earned revenue
Published 11 Feb, 2016 12:00am
PTCL declares 20 percent cash dividend

PTCL declares 20 percent cash dividend

PTCL has announced its annual financial results for the year ended December 31, 2015 in a meeting of PTCL Board of Directors held at Islamabad. PTCL has declared 20 percent final cash dividend, inclusive of 10 percent interim dividend. PTCL earned revenue
Published 11 Feb, 2016 12:00am
Different ministries: Cabinet body to take up 16 cases today

Different ministries: Cabinet body to take up 16 cases today

The Special Committee of the Cabinet on disposal of legislative cases headed by Law Minister, Pervez Rashid, is to meet on Thursday (today) to resolve 16 cases of different Ministries including amendment in Banks (Nationalisation) Act. The six-member comm
Published 11 Feb, 2016 12:00am
Fauji Fertiliser wins Safa Award

Fauji Fertiliser wins Safa Award

Fauji Fertiliser Company has added yet another feather to its cap by being conferred with the Best Presented Annual Report Award 2014, in the Manufacturing Sector category by the South Asian Federation of Accountants (SAFA). The SAFA award is presented to
Published 11 Feb, 2016 12:00am
KP government decides to hand over six hydel projects to FWO

KP government decides to hand over six hydel projects to FWO

The provincial government of Khyber Pakhtunkhawa Wednesday decided handing over six hydel power projects having capacity of 719 MW to Frontier Works Organisation (FWO) for efficient implementation and to overcome power shortage in the province. This was d
Published 11 Feb, 2016 12:00am
LHC discards petition against purchase of medicine

LHC discards petition against purchase of medicine

The Lahore High Court, discarding a petition by the Punjab Assembly opposition leader against alleged irregularities in purchase of medicines at the Punjab Institute of Cardiology of Lahore, has told him to take his case to a concerned forum. Opposition l
Published 11 Feb, 2016 12:00am
Pakistan, Qatar sign four MoUs
Exchange

Pakistan, Qatar sign four MoUs

Pakistan and Qatar on Wednesday signed four Memoranda of Understanding (MoUs) including a long term LNG Sales and Purchase Agreement, cooperation in the fields of Radio and Television, Health and Academic Research activities. The signing ceremony was also
Published 11 Feb, 2016 12:00am
Pakistan, Qatar sign four MoUs
Exchange

Pakistan, Qatar sign four MoUs

Pakistan and Qatar on Wednesday signed four Memoranda of Understanding (MoUs) including a long term LNG Sales and Purchase Agreement, cooperation in the fields of Radio and Television, Health and Academic Research activities. The signing ceremony was also
Published 11 Feb, 2016 12:00am
Traders hail cut in PIA fares

Traders hail cut in PIA fares

The Business Community of Southern Punjab has hailed the decision of Pakistan International Airlines (PIA) to reduce its fares on domestic and major international flights, including Umra fares, with immediate effect to stabilise unrealistic hike in fares
Published 11 Feb, 2016 12:00am
BISP's mechanism lauded

BISP's mechanism lauded

UN Secretary General's Special Advocate on Inclusive Finance for Development Queen Maxima of Netherlands on Wednesday appreciated the mechanism and performance of Benazir Income Support Programme (BISP) to help needy segments of the society. During her vi
Published 11 Feb, 2016 12:00am
13 injured as news of terrorist attack creates panic
Exchange

13 injured as news of terrorist attack creates panic

As many as 13 students of the government postgraduate Viqar-un-Nisa College were injured and three others got unconscious as fear and panic gripped the area following an incident of firing near the institute between police and auto thieves on Wednesday.
Published 11 Feb, 2016 12:00am
Workshop on illegal wildlife trade held

Workshop on illegal wildlife trade held

The wildlife traffickers trick law enforcement agencies by adopting new strategies to smuggle numerous precious species and use of innovative technology at airports and other routes can help curb the crime. Syed Mahmood Nasir, Inspector General Forests at
Published 11 Feb, 2016 12:00am
ABL Asset Management launches smart phone app
Exchange

ABL Asset Management launches smart phone app

CEO of ABL Asset Management (ABL AMC) Farid Ahmed Khan recently unveiled the first of its kind mobile application for capital markets at a ceremony held at Pakistan Stock Exchange (PSX). The inauguration of ABL AMC smart phone app was done by Nadeem Naqvi
Published 11 Feb, 2016 12:00am
ABL Asset Management launches smart phone app
Exchange

ABL Asset Management launches smart phone app

CEO of ABL Asset Management (ABL AMC) Farid Ahmed Khan recently unveiled the first of its kind mobile application for capital markets at a ceremony held at Pakistan Stock Exchange (PSX). The inauguration of ABL AMC smart phone app was done by Nadeem Naqvi
Published 11 Feb, 2016 12:00am
LNG supply to CNG outlets in Punjab restored

LNG supply to CNG outlets in Punjab restored

The Sui-Northern Gas Pipelines Limited (SNGPL) authorities have restored Liquefied Natural Gas (LNG) supply to CNG stations in Punjab after three months. Ghiyas Abdullah Paracha senior leader of the All Pakistan CNG Association (APCNGA) announced this whi
Published 11 Feb, 2016 12:00am
Haier to acquire GE's electric business in US

Haier to acquire GE's electric business in US

Haier Group, China is set to acquire the home appliance business of the American giant, General Electric (GE) at a whopping 4.5 billion dollars. Announcing the deal, Haier and GE say the two companies will cooperate world-wide to expand their reach in the
Published 11 Feb, 2016 12:00am
Shahbaz condoles death

Shahbaz condoles death

Punjab Chief Minister Muhammad Shahbaz Sharif has expressed deep sense of sorrow and grief over the death of Abdul Shakoor Bhatti, Business Editor of the "Nation" and Life Member of Lahore Press Club. In a condolence message, the Chief Minister prayed tha
Published 11 Feb, 2016 12:00am
At least 15 killed, 25 hurt in car-tanker collision

At least 15 killed, 25 hurt in car-tanker collision

At least 15 persons, including 10 children, were killed and more than 25 injured when a tanker carrying liquefied petroleum gas (LPG) collided with a car and the gas leakage fuelled an inferno engulfing the vehicle and nearby buildings in Mananwala area n
Published 11 Feb, 2016 12:00am
National Assembly body dissatisfied with CDA briefings

National Assembly body dissatisfied with CDA briefings

The Standing Committee on Government Assurances met today in Committee room No 7, Parliament House, Islamabad under the chairmanship of Muhammad Afzal Khokhar, MNA to consider the following agenda: The assurance given by the Federal Minister for Petroleum
Published 11 Feb, 2016 12:00am
Smeda, IMS sign MoU

Smeda, IMS sign MoU

Small & Medium Enterprises Development Authority (SMEDA) and Institute of Management Sciences (IMSciences) Peshawar entered into an agreement for a joint operation of Women Business Development Centre (WBDC) in the provincial metropolis of the Khyber Pakh
Published 11 Feb, 2016 12:00am
Punjab government releases Rs 370 million for Faisalabad SIE: minister

Punjab government releases Rs 370 million for Faisalabad SIE: minister

Punjab Minister for Commerce, Industries and Investment Chaudhry Muhammad Shafiq has revealed that provincial government has released up to Rs 370 million for the Small Industrial Estate (SIE) in Faisalabad. He ststed this while meeting a delegation, head
Published 11 Feb, 2016 12:00am
Malaysian HC signals bilateral trade expansion

Malaysian HC signals bilateral trade expansion

The Malaysian high commissioner has signalled the bilateral trade expansion and claimed Pakistan "is a strong potential market". Hasrul Sani Mujtabar, talking to Lahore Chamber of Commerce and Industries Senior Vice President Almas Hyder and Vice Presiden
Published 11 Feb, 2016 12:00am
Opposition protests against OLMT route

Opposition protests against OLMT route

.In Punjab Assembly's 19th session here on Wednesday, opposition while agitating against route of Lahore Orange Line Metro Train staged a walkout and protested on Mall Road. They also held a "dharna" at Chief Minister House and urged the government to mak
Published 11 Feb, 2016 12:00am
Bosch inaugurates office in Lahore

Bosch inaugurates office in Lahore

Bosch, a leading global supplier of technology and services inaugurated its first office in the Islamic Republic of Pakistan. Expanding the Bosch Group's operations in the region, the office based in Lahore will at the start serve as the liaison office fo
Published 11 Feb, 2016 12:00am
IRSA decreases water level at Mangla dam for repairs

IRSA decreases water level at Mangla dam for repairs

Indus River System Authority (IRSA) has decreased water level in Mangla Dam by 15ft to carry out certain repairs by Wapda engineers. Punjab Irrigation engineers told Business Recorder here on Wednesday that Wapda had requested the water regulatory
Published 11 Feb, 2016 12:00am
No decision yet to summon Rangers: Punjab government

No decision yet to summon Rangers: Punjab government

A spokesman of the Punjab government on Wednesday rejected the media reports regarding summoning of Rangers in Punjab to conduct operation against the terrorists and extremists. "No decision has been made yet to summon Rangers in Punjab", the spokesman sa
Published 11 Feb, 2016 12:00am
KBP to launch 'contact with farmers' campaign
Cotton

KBP to launch 'contact with farmers' campaign

The Kisan Board Pakistan (KBP) to launch a contact-with-farmers campaign before running an anti-corruption movement next month and has set up committees to contact and convince them of supporting it. The setting-up of these committees was announced in a j
Published 11 Feb, 2016 12:00am
Ministry of Power notifies support package for industry

Ministry of Power notifies support package for industry

Following the announcement of Rs 3 per unit reduction in the industrial tariff by Prime Minister Nawaz Sharif, the Ministry of Water and Power has notified a support package for industrial consumers. According to the notification, a copy of which is avail
Published 11 Feb, 2016 12:00am
Lawyer summoned for locking up judge

Lawyer summoned for locking up judge

An advocate has been on the summons for March 10 in connection with courtroom lockup of a civil judge in Rawalpindi. The order came on Wednesday by a full bench of the Lahore High Court, headed by Justice Anwarul Haq, hearing a sue motu notice of a report
Published 11 Feb, 2016 12:00am
LHC to hear bid to reclaim jewel from British crown

LHC to hear bid to reclaim jewel from British crown

A court is set on Thursday to hear a petition asking Britain's Queen Elizabeth II to return the Koh-i-Noor diamond more than 150 years after it was taken from Lahore by colonial forces. The 105.6 carat stone, which has also been claimed by a group of Indi
Published 11 Feb, 2016 12:00am
7th IPEMC begins at HEC

7th IPEMC begins at HEC

Minister of Federal Education and Professional Training Egr Muhammad Baligh Ur Rehman chaired the 7th IPEMC at HEC, Islamabad. Rana Mashood Ahmed Khan (Minister for education, Punjab), Muhammad Atif Khan (Education Minister, KPK), Muhammad Ibrahim Sanai (
Published 11 Feb, 2016 12:00am
Nepra approves 44 paisa per unit hike in KE tariff under FCA

Nepra approves 44 paisa per unit hike in KE tariff under FCA

National Electric Power Regulatory Authority (Nepra) has rejected K-Electric's request for a 57.66 paisa per unit increase in monthly fuel charges adjustment (FCA) for November last year. The authority in its 7-page judgement - SRO 77 (1)/2016, on Februar
Published 11 Feb, 2016 12:00am
Arbab Raheem meets Nisar
Exchange

Arbab Raheem meets Nisar

Interior Minister Chaudhry Nisar and former Sindh CM Arbab Ghulam Raheem held meeting on Wednesday in Punjab House and exchanged views on overall situation of the country, especially Sindh. Arbab said that the federal government needs to help helpless peo
Published 11 Feb, 2016 12:00am
Multiple programmes to tackle social entrepreneurship issues: Ahsan

Multiple programmes to tackle social entrepreneurship issues: Ahsan

Minister Planning, Development and Reform Professor Ahsan Iqbal has said the government has initiated multiple programs worth billions of the rupees to tackle the social entrepreneurship issues and engage the youth for development of the country.
Published 11 Feb, 2016 12:00am
NHA expedites work on CPEC's western route: Ashraf Tarar

NHA expedites work on CPEC's western route: Ashraf Tarar

National Highway Authority (NHA) is taking all possible measures to ensure the timely completion of the western route of China-Pakistan Economic Corridor (CPEC). This was said by the Chairman NHA, Shahid Ashraf Tarar while presiding over the Executive Boa
Published 11 Feb, 2016 12:00am
The Weather

The Weather

The weather report on Wednesday (February 10, 2016) and the forecast for Thursday (February 11, 2016).

Published 11 Feb, 2016 12:00am
Ahsan reviews progress on CPEC projects

Ahsan reviews progress on CPEC projects

Federal Minister Planning, Development and Reform Ahsan Iqbal chaired a high level meeting to review the progress on various projects of China-Pakistan Economic Corridor (CPEC). Officials of various ministries briefed the meeting about status of work on v
Published 11 Feb, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (February 10, 2016).

Published 11 Feb, 2016 12:00am
ACCA, LGS DIDP sign MoU

ACCA, LGS DIDP sign MoU

Association of Chartered Certified Accountants (ACCA) and LGS Defence International Degree Programme (LGS DIDP) which is a sister concern of Lahore Grammar School Defence, Lahore signed a memorandum of understanding (MoU) to work towards the advancement o
Published 11 Feb, 2016 12:00am
US MIDDAY: wheat futures rise

US MIDDAY: wheat futures rise

Chicago Board of Trade wheat futures firmed on Wednesday, edging higher on a round of bargain buying a day after prices hit their lowest in nearly six years, traders said. Corn and soyabean futures were close to unchanged, with a bearish tone remaining fi
Published 11 Feb, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (February 10, 2016).

Published 11 Feb, 2016 12:00am
US MIDDAY: gold stabilises

US MIDDAY: gold stabilises

Gold prices stabilised below a 7-1/2-month high on Wednesday after US Federal Reserve Chair Janet Yellen said that only "gradual" adjustments to monetary policy were likely and stressed that global headwinds could hurt US growth. In her first testimony to
Published 11 Feb, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (February 10, 2016)

Published 11 Feb, 2016 12:00am
Security has clear precedence

Security has clear precedence

This is apropos an op-ed titled "No-balls by Nawaz" in Business Recorder's Monday issue. The writer has argued, inter alia, that "Appallingly poor governance during the five-year PPP-led coalition government led to PML-N victory in the 2013 general electi
Published 11 Feb, 2016 12:00am
'SBP on debt'

'SBP on debt'

This is apropos 'SBP on debt' by Dr Ashfaque H Khan carried by Business Recorder on Wednesday. The writer, who is a known and respected economist, seems to be on a war path; and his principal objects of attacks are Ministry of Finance and State Ban
Published 11 Feb, 2016 12:00am
Saudi Arabia-Iran spat: Challenges to Pakistan's mediatory role

Saudi Arabia-Iran spat: Challenges to Pakistan's mediatory role

Can Pakistan play a meaningful mediatory role in ironing out Arab-Iranian rift? For a country to undertake a mediatory mission it must have strong credentials with effective diplomacy, robust economy and international standing. No doubt Pakistan is the on
Published 11 Feb, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 10, 2016).

Published 11 Feb, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 10, 2016).

Published 11 Feb, 2016 12:00am
VIEW POINT: A dire warning from nature

VIEW POINT: A dire warning from nature

An Indian newspaper, The Hindu, has quoted a signboard posted at that country's military base camp at Siachen Glacier as saying "snout of the glacier was here on 10th April, 2005" noting that the glacier's starting point has since moved by about a kilomet
Published 11 Feb, 2016 12:00am
Positive prospects of Afghan peace process

Positive prospects of Afghan peace process

Afghan Taliban may be anything but they are not ideological followers of Chairman Mao, though they seem to be committed believers of his famous quote 'fight fight, talk talk'. As they fight they want to talk also. No wonder then the principal upshot from
Published 11 Feb, 2016 12:00am
PIA: Hopefully some lessons learned

PIA: Hopefully some lessons learned

Joint Action Committee Pakistan International Airlines Employees (JACPIAE) called off the strike after 15 days of severe disruption in the national airlines flight schedule at a great cost to passengers/cargo clients as well as itself through loss of bill
Published 11 Feb, 2016 12:00am
THE RUPEE: mixed patterns
Currency

THE RUPEE: mixed patterns

The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said. The rupee recovered seven paisas in relation to the dollar for buying and selling at Rs 104.66 and Rs 104.69, they said.
Published 11 Feb, 2016 12:00am
FBR asked to introduce concept of ''higher income contribution''

FBR asked to introduce concept of ''higher income contribution''

The Tax Reform Commission (TRC) has recommended to the Federal Board of Revenue (FBR) to introduce the concept of ''higher income contribution'' whereby individual and Association of Persons earning taxable income of more than Rs 100 million and in case o
Published 11 Feb, 2016 12:00am
THE RUPEE: mixed patterns
Currency

THE RUPEE: mixed patterns

The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said. The rupee recovered seven paisas in relation to the dollar for buying and selling at Rs 104.66 and Rs 104.69, they said.
Published 11 Feb, 2016 12:00am
FBR asked to introduce concept of 'higher income contribution'

FBR asked to introduce concept of 'higher income contribution'

The Tax Reform Commission (TRC) has recommended to the Federal Board of Revenue (FBR) to introduce the concept of 'higher income contribution' whereby individual and Association of Persons earning taxable income of more than Rs 100 million and in case of
Published 11 Feb, 2016 12:00am
FBR asked to introduce concept of 'higher income contribution'

FBR asked to introduce concept of 'higher income contribution'

The Tax Reform Commission (TRC) has recommended to the Federal Board of Revenue (FBR) to introduce the concept of 'higher income contribution' whereby individual and Association of Persons earning taxable income of more than Rs 100 million and in case of
Published 11 Feb, 2016 12:00am
ABL registers 15 percent growth
Currency

ABL registers 15 percent growth

During 2015, ABL focused on balance sheet growth without compromising on asset quality while optimising earning asset mix enabling maintenance of stable profitability. The Bank retained its focus on expanding its outreach and provision of customer centric
Published 11 Feb, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (February 10, 2016).

Published 11 Feb, 2016 12:00am
ABL registers 15 percent growth
Currency

ABL registers 15 percent growth

During 2015, ABL focused on balance sheet growth without compromising on asset quality while optimising earning asset mix enabling maintenance of stable profitability. The Bank retained its focus on expanding its outreach and provision of customer centric
Published 11 Feb, 2016 12:00am
ABL registers 15 percent growth
Currency

ABL registers 15 percent growth

During 2015, ABL focused on balance sheet growth without compromising on asset quality while optimising earning asset mix enabling maintenance of stable profitability. The Bank retained its focus on expanding its outreach and provision of customer centric
Published 11 Feb, 2016 12:00am
ABL registers 15 percent growth
Currency

ABL registers 15 percent growth

During 2015, ABL focused on balance sheet growth without compromising on asset quality while optimising earning asset mix enabling maintenance of stable profitability. The Bank retained its focus on expanding its outreach and provision of customer centric
Published 11 Feb, 2016 12:00am
Oil market conditions: Iran ready to talk with Saudi Arabia

Oil market conditions: Iran ready to talk with Saudi Arabia

Iranian Oil Minister Bijan Zangeneh said on Tuesday that Tehran is ready to negotiate with Saudi Arabia over the current conditions in the global oil markets, Iran''s Press TV reported. "We support any form of dialogue and cooperation with Opec member sta
Published 11 Feb, 2016 12:00am
Oil market conditions: Iran ready to talk with Saudi Arabia

Oil market conditions: Iran ready to talk with Saudi Arabia

Iranian Oil Minister Bijan Zangeneh said on Tuesday that Tehran is ready to negotiate with Saudi Arabia over the current conditions in the global oil markets, Iran's Press TV reported. "We support any form of dialogue and cooperation with Opec member stat
Published 11 Feb, 2016 12:00am
Oil market conditions: Iran ready to talk with Saudi Arabia

Oil market conditions: Iran ready to talk with Saudi Arabia

Iranian Oil Minister Bijan Zangeneh said on Tuesday that Tehran is ready to negotiate with Saudi Arabia over the current conditions in the global oil markets, Iran's Press TV reported. "We support any form of dialogue and cooperation with Opec member stat
Published 11 Feb, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 11 Feb, 2016 12:00am
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