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Print - 2016-04-21
Hong Kong's Ahmed gets big ban over fixing approaches

Hong Kong's Ahmed gets big ban over fixing approaches

Hong Kong all-rounder Irfan Ahmed was banned for two-and-a-half years on Wednesday for breaking cricket's anti-corruption rules by failing to report approaches by a suspected match-fixer. The hefty suspension was handed out after anti-corruption investiga
Published 21 Apr, 2016 12:00am
Neuer extends Bayern contract until 2021

Neuer extends Bayern contract until 2021

Bayern Munich has extended the contract of Germany's world-class goalkeeper Manuel Neuer, binding him to the Bundesliga giants until 2021, the club confirmed on Wednesday. Neuer, who has been voted world goalkeeper of the year in 2013, 2014 and 2015, is s
Published 21 Apr, 2016 12:00am
Punjab University clinch Jujitsu Championship

Punjab University clinch Jujitsu Championship

The Punjab University women's team has clinched the first position in the third Higher Education Commission Jujitsu Championship 2015-16 while showing outstanding performance. The team won the championship by scoring 170 points while the Lahore College fo
Published 21 Apr, 2016 12:00am
National Amateur Golf tees off

National Amateur Golf tees off

The top 77 amateur golfers of almost all golf courses of the country have reached Defence Raya Golf and Country Club Golf Course here for a fling at the Pakistan Amateur Golf title 2016. Also there are four national players from Afghanistan, two from Iran
Published 21 Apr, 2016 12:00am
Champs Evergrande crash out of Asia

Champs Evergrande crash out of Asia

Defending title-holders Guangzhou Evergrande crashed out of the AFC Champions League after group rivals Sydney FC and Urawa Red Diamonds played out a goalless draw on Wednesday. Luiz Felipe Scolari's Chinese giants won their first game a day earlier but i
Published 21 Apr, 2016 12:00am
South Africa balk at Aussie pink-ball Test

South Africa balk at Aussie pink-ball Test

Cricket Australia unveiled plans Wednesday for day-night Tests against South Africa and Pakistan, but admitted player concerns about the experimental format meant the Proteas' fixture was not locked in. The day-night Tests using a pink ball are a central
Published 21 Apr, 2016 12:00am
Russian announces anti-doping reforms in bid to overturn Rio ban

Russian announces anti-doping reforms in bid to overturn Rio ban

Russia has appointed international experts to assist with anti-doping reforms, the sports ministry said Wednesday, as the country strives to clean up its act in time for the Rio Olympics. "The experts were nominated by WADA (World Anti-Doping Agency) and
Published 21 Apr, 2016 12:00am
Crisis-hit Greeks, Brazilians, ready for Olympic flame

Crisis-hit Greeks, Brazilians, ready for Olympic flame

Greece, beset by economic difficulties and a migration crisis, will hold a traditional ceremony Thursday for the Rio Olympics as Brazil battles its own political woes. The dress rehearsal for the lighting of the Olympic flame in ancient Olympia went ahead
Published 21 Apr, 2016 12:00am
Watchdog says press freedom in decline, warns of 'new era of propaganda'

Watchdog says press freedom in decline, warns of 'new era of propaganda'

World press freedom deteriorated in 2015, especially in the Americas, advocacy group Reporters Without Borders said Wednesday as it released its annual rankings, warning of "a new era of propaganda". The World Press Freedom Index ranks 180 countries on in
Published 21 Apr, 2016 12:00am
Israeli intel cooperation with Egypt at 'unprecedented' level

Israeli intel cooperation with Egypt at 'unprecedented' level

Israel has seen "unprecedented" intelligence cooperation with Egypt and Jordan as the fight against the Islamic State group nudges them to work together more closely, a military chief said Wednesday. Major General Yair Golan said "there is a strong feelin
Published 21 Apr, 2016 12:00am
Mass murderer Breivik wins lawsuit over 'inhuman' treatment

Mass murderer Breivik wins lawsuit over 'inhuman' treatment

Norwegian mass murderer and self-proclaimed Nazi Anders Behring Breivik on Wednesday won his lawsuit against the state over his "inhuman" solitary confinement in prison. The ruling was greeted with surprise by the state's lawyer and some of the survivors
Published 21 Apr, 2016 12:00am
Nato-Russia talks end in 'profound disagreements'

Nato-Russia talks end in 'profound disagreements'

Nato and Russia ran up against "profound disagreements" over Ukraine and other issues as their ambassadors met on Wednesday for the first time since 2014, alliance chief Jens Stoltenberg said. The two sides agreed to keep communicating following the meeti
Published 21 Apr, 2016 12:00am
Swedish politician quits after refusing to shake women's hands

Swedish politician quits after refusing to shake women's hands

A Swedish Green Party politician, who ignited a storm of controversy after refusing to shake hands with a female reporter on grounds that it violated his Muslim faith, announced on Wednesday that he was quitting politics. Yasri Khan is the second Muslim G
Published 21 Apr, 2016 12:00am
Top German court strikes down key parts of anti-terror law

Top German court strikes down key parts of anti-terror law

Germany's highest court on Wednesday struck down key planks of an anti-terror law, saying they violated privacy protections enshrined in the constitution. The legislation passed in 2008 which covers surveillance of terror suspects by the federal police mu
Published 21 Apr, 2016 12:00am
New quake revives panic in Ecuador

New quake revives panic in Ecuador

A 6.1-magnitude earthquake struck off the coast of Ecuador Wednesday, sowing new panic four days after a more powerful quake killed more than 525 people, with hundreds still missing. The latest quake struck just off the coastal town of Muisne in north-wes
Published 21 Apr, 2016 12:00am
UNHCR fears 500 dead in Mediterranean shipwreck

UNHCR fears 500 dead in Mediterranean shipwreck

The UN refugee agency said on Wednesday it feared around 500 migrants from Africa had drowned in the Mediterranean, in what could be one of the worst tragedies since the start of the refugee crisis in Europe. Survivors who were spotted drifting at sea bef
Published 21 Apr, 2016 12:00am
Do more in Iraq: Pentagon

Do more in Iraq: Pentagon

US Defence Secretary Ashton Carter pleaded Wednesday for greater Gulf financial and political involvement in Iraq, which is battling both Islamic State jihadists and an economic crisis. Carter made the comments after meeting in Riyadh with his counterpart
Published 21 Apr, 2016 12:00am
Senior IS figure in Iraq targeted

Senior IS figure in Iraq targeted

A senior Islamic State figure in Iraq has been targeted in a US-led commando raid, the Pentagon said Wednesday, as Kurdish officials claimed he had been killed. The assault late Sunday, the latest raid by US special operators on a mission to kill or captu
Published 21 Apr, 2016 12:00am
Pentagon sends legendary B-52 bomber into action against IS group

Pentagon sends legendary B-52 bomber into action against IS group

The US Air Force has started using its hulking B-52 bombers against the Islamic State group in Iraq and Syria, but the enormous aircraft are only conducting precision strikes, a military spokesman said Wednesday. The B-52 Stratofortress - originally desig
Published 21 Apr, 2016 12:00am
KP Governor condemns Karachi attack

KP Governor condemns Karachi attack

Governor Khyber Pakhtunkhwa Iqbal Zafar Jhagra, on Wednesday has strongly condemned the terrorist attacks on Police personnel at Orangi Town in Karachi and expressed his sorrow over the loss of precious lives. In a statement the Governor while paying trib
Published 21 Apr, 2016 12:00am
SECP appoints administrator of Unicap Modaraba
Exchange

SECP appoints administrator of Unicap Modaraba

The Securities and Exchange Commission of Pakistan (SECP) has appointed an administrator of Unicap Modaraba in place of its management company ie Map Out Modaraba Management Company (Pvt) Limited. The SECP had noted that the Unicap Modaraba affairs were n
Published 21 Apr, 2016 12:00am
Sartaj holds talks with British NSA in London

Sartaj holds talks with British NSA in London

Sartaj Aziz, Adviser to the Prime Minister on Foreign Affairs has held meetings with Sir Mark Lyall-Grant, British National Security Adviser (NSA) and Sir Ciaran Devane, Chief Executive Officer (CEO), British Council as part of the review of Enhanced Stra
Published 21 Apr, 2016 12:00am
Experts urge government to deregulate LNG market, introduce Ron 92 fuels

Experts urge government to deregulate LNG market, introduce Ron 92 fuels

Energy experts have recommended to the government to deregulate Liquefied Natural Gas (LNG) market and inland freight margin of petroleum companies and introduce Ron 92 fuels in accordance with the international standards. These views were expressed at a
Published 21 Apr, 2016 12:00am
Siemens Pakistan Engineering Company Limited

Siemens Pakistan Engineering Company Limited

Siemens Pakistan Engineering Company Limited has been in here since pre-partition days. The company had its first office of the subcontinent in Lahore in 1922. Its footprint in Pakistan started with first cable laying project in Karachi. The firm was inco
Published 21 Apr, 2016 12:00am
Siemens Pakistan Engineering Company Limited

Siemens Pakistan Engineering Company Limited

Siemens Pakistan Engineering Company Limited has been in here since pre-partition days. The company had its first office of the subcontinent in Lahore in 1922. Its footprint in Pakistan started with first cable laying project in Karachi. The firm was inco
Published 21 Apr, 2016 12:00am
USAID team visits USPCAS-W at MUET
Exchange

USAID team visits USPCAS-W at MUET

A delegation of United States Agency for International Development (USAID) Pakistan, comprising of Agreement Officer William Sedlak, Acquisition and Assistance Specialists Juan Esteban Proano, Sohail Humayun, Agreement Officer's Representative Hafeezullah
Published 21 Apr, 2016 12:00am
Young Pakistanis very creative & talented: Japanese official

Young Pakistanis very creative & talented: Japanese official

Young Pakistanis are very creative and talented, and Japan has opened the doors of its universities to Pakistani students so that they could get higher education there. This was stated by Mitsuoki Tosa, Director, Japan Information and Culture Centre and C
Published 21 Apr, 2016 12:00am
Teenager kills three children in Orangi Town

Teenager kills three children in Orangi Town

Police has arrested the killer of three minor children, who were killed on Tuesday night in Karachi's Orangi Town neighbourhood. Mominabad police stated that the accused was apprehended from Orangi Town and Rs 3000 was recovered from him. But the victim f
Published 21 Apr, 2016 12:00am
Baig discusses trade-related matters with President of Mauritius

Baig discusses trade-related matters with President of Mauritius

Dr Mirza Ikhtiar Baig, Chairman Baig Group & former Advisor to PM on Textile while representing Trade & Industry of Pakistan met Her Excellency Ameenah Gurib Fakim, President of Mauritius in Karachi to discuss possible collaboration in the field of textil
Published 21 Apr, 2016 12:00am
KCCI, British Business Centre sign MoU

KCCI, British Business Centre sign MoU

The Karachi Chamber of Commerce and Industry (KCCI) and British Business Centre Pakistan have signed a Memorandum of Understanding (MoU) to further advance relations between both entities, promote economic cooperation and ensure optimum development of tra
Published 21 Apr, 2016 12:00am
Sindh chief minister orders action against ghost LHWs

Sindh chief minister orders action against ghost LHWs

Sindh Chief Minister Syed Qaim Ali Shah has directed the health department to physically verify the attendance of each and every Lady Health Workers (LHW). There are reports that some of them are ghost or involved in dual jobs. This he said while presidin
Published 21 Apr, 2016 12:00am
Collection system ABC seeks procedural changes

Collection system ABC seeks procedural changes

American Business Council of Pakistan (ABC) has submitted its taxations proposals for Federal Budget FY16-17 to the Federal Board of Revenue highlighting the need for procedural changes in the collection system. The comprehensive document issued by the co
Published 21 Apr, 2016 12:00am
Lecture on fundamentals of road safety held

Lecture on fundamentals of road safety held

A lecture on "Fundamentals of Road Safety" has been organised by the Department of Psychology in collaboration with Bureau of STAGS, University of Sindh. The event was held at Shaikh Ayaz Auditorium, Arts Faculty Building. Pro vice Chancellor Professor Dr
Published 21 Apr, 2016 12:00am
Siemens, SBI sign MoU

Siemens, SBI sign MoU

Siemens, Germany, and Sindh Board of Investment (SBI) have signed a Memorandum of Understanding (MoU) for the development of smart grid system. According to details, Naheed Memon, chairperson, SBI, along with a delegation of Sindh government visited the h
Published 21 Apr, 2016 12:00am
Pakistan envoy presents Letter of Credence to Putin

Pakistan envoy presents Letter of Credence to Putin

Ambassador of Pakistan to the Russian Federation, Qazi M. Khalilullah, presented his Letter of Credence to President Vladimir Putin at the Kremlin in Moscow on Wednesday. The Ambassador conveyed greetings from the President, Prime Minister and the people
Published 21 Apr, 2016 12:00am
Plastic pollution becomes serious threat to marine biodiversity

Plastic pollution becomes serious threat to marine biodiversity

Uncontrolled dumping of plastic products in the terrestrial and marine environment has become a serious threat to the animals and plant inhabiting in the coastal and offshore waters of Pakistan. According to WWF-Pakistan solid garbage from cities and town
Published 21 Apr, 2016 12:00am
Policemen involved in crimes to face action: DIG East

Policemen involved in crimes to face action: DIG East

Deputy Inspector General Police (East) Dr Kamran Fazal Siddiqui has vowed to take action against policemen if they are found involved in criminal activities. Speaking at a luncheon meeting of Association of Builders and Developers of Pakistan (Abad) on We
Published 21 Apr, 2016 12:00am
Bank Alfalah, Daraz.pk partner with Pantene

Bank Alfalah, Daraz.pk partner with Pantene

Bank Alfalah and Daraz.pk have partnered up with Pantene to present the first shoppable fashion show in Pakistan. Bringing the corporate sector and fashion industry on one runway, Daraz Fashion Week 2016 is geared to open new horizons for online shopping.
Published 21 Apr, 2016 12:00am
420kg of hashish seized

420kg of hashish seized

A bid of smuggling of huge cache of hashish from Jamrud to Peshawar was foiled by the Khasadar force at Sakhee Pul (Sakhee Bridge) area of tehsil Jamrud of Khyber Agency on Wednesday. The Jamrud administration official said that on tip-off a Khasadar part
Published 21 Apr, 2016 12:00am
Pakistan urges world to 'do more' to eradicate narcotics

Pakistan urges world to 'do more' to eradicate narcotics

Pakistan has urged the international community to "do more" to counter the menace of narcotics in all its forms arguing that this was possible through better co-ordination and cooperation between the member countries. Speaking in the Special Session of th
Published 21 Apr, 2016 12:00am
Suparco, CGWIC sign contract

Suparco, CGWIC sign contract

Pakistan Space & Upper Atmosphere Research Commission (SUPARCO) and China Great Wall Industry Cooperation (CGWIC) on Wednesday signed a contract for the development and launch of Pakistan Remote Sensing Satellite (PRSS-1) System. Federal Minister for Plan
Published 21 Apr, 2016 12:00am
British Army chief visits Pakistan to reinforce military ties

British Army chief visits Pakistan to reinforce military ties

The Chief of the General Staff and Head of the British Army, General Sir Nicholas Carter visited Pakistan to reinforce the close military relationship between Pakistan and the UK. "General Carter and his wife Lady Carter were the personal guests of Genera
Published 21 Apr, 2016 12:00am
PTV management asked to conduct inquiry against former MD

PTV management asked to conduct inquiry against former MD

A parliamentary body on Wednesday asked Pakistan Television's (PTV) top management to conduct an inquiry against former PTV managing director (MD) Muhammad Malik for his alleged involvement in corruption and nepotism as head of the state-run channel. The
Published 21 Apr, 2016 12:00am
Public sector institutes: KP PAC takes notice of overpayment

Public sector institutes: KP PAC takes notice of overpayment

Public Accounts Committee (PAC) of Khyber Pakhtunkhwa Assembly has taken strong notice of the overpayment by different public sector institutes. The committee has decided to take stern action against the concerned officials. The meeting held with MPA Shau
Published 21 Apr, 2016 12:00am
President confers Nishan-i-Imtiaz (Military) on Italian Army Chief

President confers Nishan-i-Imtiaz (Military) on Italian Army Chief

President Mamnoon Hussain Wednesday conferred the Nishan-i-Imtiaz (Military) on General Claudio Graziano, Chief of Defence General Staff of Italian Armed Forces, in recognition of his outstanding services and contribution in promoting friendly ties betwee
Published 21 Apr, 2016 12:00am
KP establishes Medical Transplantation Regulatory Authority

KP establishes Medical Transplantation Regulatory Authority

The Khyber Pakhtunkhwa Government has notified the establishment of Medical Transplantation Regulatory Authority. According to a notification issued from Secretary Health Office, Provincial Minister for Health will be Chairman of the Regulatory Authority
Published 21 Apr, 2016 12:00am
Cotton growers advisory
Cotton

Cotton growers advisory

A Punjab Agriculture Department spokesman has advised cotton growers to sow only the approved BT cotton varieties till May 15th to achieve a maximum per-acre-yield production. In an advisory released on Wednesday, the spokesman said cotton-sowing had star
Published 21 Apr, 2016 12:00am
Zameen.com Property Expo on April 23

Zameen.com Property Expo on April 23

Zameen.com, Pakistan's largest real estate portal, will hold the Zameen.com Property Expo 2016 (Karachi) at the Palm Marquee on April 23 and 24, 2016. This affair is slated to be one of the most prominent property events in the port city this year. Promin
Published 21 Apr, 2016 12:00am
Sindh Bank holds Hajj ballot

Sindh Bank holds Hajj ballot

Hajj balloting for Sindh Bank employees was held at Bank's Head Office. According to balloting four principal and four alternate employees were declared successful and the (principal employees) are Sheraz Ahmed Meer (OG-I), Nazia Gul (OG-II), Fahad Ali Ba
Published 21 Apr, 2016 12:00am
Land revenue record: Supreme Court expresses concern over delay

Land revenue record: Supreme Court expresses concern over delay

Expressing dismay over unnecessary delay in computerising the land revenue record in Sindh the top court on Wednesday sought a comprehensive report from Chief Secretary of the province. During the course of proceedings, a three-member bench led by the Chi
Published 21 Apr, 2016 12:00am
LHC issues notice to President for setting aside FTO's order

LHC issues notice to President for setting aside FTO's order

Lahore High Court (LHC) has issued a notice to the President of Pakistan, who has set aside an order of the Federal Tax Ombudsman (FTO), which has directed the Federal Board of Revenue (FBR) to vacate order under Section 122 of the Income Tax Ordinance, 2
Published 21 Apr, 2016 12:00am
Zardari calls for inspiration from Allama Iqbal

Zardari calls for inspiration from Allama Iqbal

"The pristine message of Islam has been systematically distorted over the decades and we need to seek inspiration from Iqbal to correct the distortions and restore the peaceful, progressive and egalitarian image of Islam".
Published 21 Apr, 2016 12:00am
Soneri Bank posts Rs 539.21 million profit after tax

Soneri Bank posts Rs 539.21 million profit after tax

Soneri Bank Limited posted a profit before tax of Rs 822.31 million and a profit after tax of Rs 539.21 million for the first quarter ended 31 March 2016. The Board in its 149th meeting held on Wednesday, approved the Bank's first quarterly un-audited fin
Published 21 Apr, 2016 12:00am
Soneri Bank posts Rs 539.21 million profit after tax

Soneri Bank posts Rs 539.21 million profit after tax

Soneri Bank Limited posted a profit before tax of Rs 822.31 million and a profit after tax of Rs 539.21 million for the first quarter ended 31 March 2016. The Board in its 149th meeting held on Wednesday, approved the Bank's first quarterly un-audited fin
Published 21 Apr, 2016 12:00am
Promotions, recruitments: Parliamentary panel seeks record of NTC

Promotions, recruitments: Parliamentary panel seeks record of NTC

A parliamentary panel on Wednesday sought all the record of promotions and recruitments in the National Telecommunication (NTC), after questions were raised on illegal promotions and appointments. The sub-committee of the National Assembly's Standing Comm
Published 21 Apr, 2016 12:00am
PPP KP leaders call on Bilawal

PPP KP leaders call on Bilawal

A delegation of senior party leaders from Khyber Pakhtunkhwa today called on the Chairman Pakistan People's Party Bilawal Bhutto Zardari in Zardari House in Islamabad. Those who called on him included former Speaker Karamat Khan, Senator Khanzada Khan, Se
Published 21 Apr, 2016 12:00am
Microsoft, World Vision-Pakistan launch Rozgar Work

Microsoft, World Vision-Pakistan launch Rozgar Work

Microsoft, a global leader in technology and innovation along with its implementing partner, World Vision-Pakistan, has launched Rozgar Work - an Employability and Entrepreneurship Platform. The Rozgar work platform provides job-seekers with end-to-end ca
Published 21 Apr, 2016 12:00am
Punjab government to initiate mega projects in Fiscal Year 2016-17

Punjab government to initiate mega projects in Fiscal Year 2016-17

The Punjab Government is initiating Mega Projects in the province during the fiscal year 2016-17 by involving and ensuring partnership of international & national consultancy firms and companies. This was stated by Punjab Secretary Planning & Development
Published 21 Apr, 2016 12:00am
PAAPAM terms Sindh tractor scheme non-transparent

PAAPAM terms Sindh tractor scheme non-transparent

Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) in its emergent meeting on Wednesday raised serious concern over the Sindh Tractor Scheme and termed it non-transparent and counterproductive. PAAPAM called an emergent meetin
Published 21 Apr, 2016 12:00am
Assets abroad: LHC turns down request

Assets abroad: LHC turns down request

The Lahore High Court has turned down a request for summoning 64 politicians, including the current and former rulers and their families, following a petition questioning their assets outside the country. On Wednesday, the court hearing a petition filed b
Published 21 Apr, 2016 12:00am
Millat Equipments Company, TVTA sign MoU

Millat Equipments Company, TVTA sign MoU

The Technical and Vocational Training Authority and the Millat Equipments Company have signed a memorandum of understanding to start four demand-driven courses which include CNC operator, electricians, machinists and quality inspector programmes. New cour
Published 21 Apr, 2016 12:00am
Millat Equipments Company, TVTA sign MoU

Millat Equipments Company, TVTA sign MoU

The Technical and Vocational Training Authority and the Millat Equipments Company have signed a memorandum of understanding to start four demand-driven courses which include CNC operator, electricians, machinists and quality inspector programmes. New cour
Published 21 Apr, 2016 12:00am
PCJCCI chief favours coal import from Indonesia

PCJCCI chief favours coal import from Indonesia

Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi has said the joint ventures with Indonesia in terms of importing eco-friendly coal could prove to be prolific in overcoming the voracious energy crises in Pakistan. He
Published 21 Apr, 2016 12:00am
PCJCCI chief favours coal import from Indonesia

PCJCCI chief favours coal import from Indonesia

Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi has said the joint ventures with Indonesia in terms of importing eco-friendly coal could prove to be prolific in overcoming the voracious energy crises in Pakistan. He
Published 21 Apr, 2016 12:00am
NAB chairman reviews progress on IAM implementation

NAB chairman reviews progress on IAM implementation

Qamar Zaman Chaudhry, Chairman NAB chaired a meeting to review progress on the implementation of Internal Accountability Mechanism (IAM) introduced in NAB with a view to make its internal procedure more accountable and transparent. During the meeting, Sen
Published 21 Apr, 2016 12:00am
National Assembly panel lauds FPCCI's budget proposals

National Assembly panel lauds FPCCI's budget proposals

The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has formally presented its budget proposals to the National Assembly's Standing Committee on Finance. The FPCCI's proposals were presented by Secretary General UBG Zubair Tufail and Vice
Published 21 Apr, 2016 12:00am
Number of 3G/4G users reached 27.866 million by March: PTA

Number of 3G/4G users reached 27.866 million by March: PTA

The number of 3G/4G users reached at 27.866 million by March 2016 as compared to 26.193 million in February 2016, showing a reasonable growth in modern mobile broadband services with each passing month. Mobile phone users in Pakistan reached at 131.412 mi
Published 21 Apr, 2016 12:00am
InstaMobile owes Rs 22 billion to government: PTA chairman
Cotton

InstaMobile owes Rs 22 billion to government: PTA chairman

The InstaMobile, a defunct cellular company has outstanding dues of around Rs 22 billion while the annual cellular revenue in the country is around US $3.5 billion. Chairman Pakistan Telecommunication Authority Dr Ismael Shah said this on Wednesday while
Published 21 Apr, 2016 12:00am
ST, duty on all defence imports may be waived: Senate informed

ST, duty on all defence imports may be waived: Senate informed

The Senate was informed on Wednesday that sales tax and custom duty may be waived off on all defence imports, besides IBC for defence budget 2016-17 may be revised from Rs 860 billion to Rs 920 billion. A report of Senate Standing Committee on Defence tha
Published 21 Apr, 2016 12:00am
Auction for PIBs: government borrows Rs 136 billion

Auction for PIBs: government borrows Rs 136 billion

The federal government on Wednesday borrowed Rs 136 billion through the auction for long-term investment papers. The cut-off yield of 3-year Pakistan Investment Bond rose slightly in the auction held on April 20, 2016. The margin on 10-year bonds declined
Published 21 Apr, 2016 12:00am
Auction for PIBs: government borrows Rs 136 billion

Auction for PIBs: government borrows Rs 136 billion

The federal government on Wednesday borrowed Rs 136 billion through the auction for long-term investment papers. The cut-off yield of 3-year Pakistan Investment Bond rose slightly in the auction held on April 20, 2016. The margin on 10-year bonds declined
Published 21 Apr, 2016 12:00am
Hot weather to strike Karachi from tomorrow

Hot weather to strike Karachi from tomorrow

The Met Office on Wednesday forecast a short spell of hot weather for Karachi from April 22 to 25. Winds are likely to take gradual turn from south-westerly to north-westerly to bring hot and dry air mass to Karachi and other coastal areas cutting sea bre
Published 21 Apr, 2016 12:00am
Condolence

Condolence

Lahore Chamber of Commerce and Industry has expressed deep sorrow over demise of Chaudhry Abdul Ghafoor, who was a senior politician, former Federal Minister and father of LCCI former president Zafar Iqbal Chaudhry. LCCI President Sheikh Muhammad Arshad,
Published 21 Apr, 2016 12:00am
Government decides to deposit Hajj dues in Shariah-compliant accounts

Government decides to deposit Hajj dues in Shariah-compliant accounts

For the first time in the country's history, the federal government has decided to deposit the Hajj dues (fee) in Shariah-compliant accounts. Sources told Business Recorder on Wednesday that in previous years the amount was being placed in the conv
Published 21 Apr, 2016 12:00am
LHC reserves verdict

LHC reserves verdict

The Lahore High Court has reserved its verdict on hearing a petition challenging the election of a governing party parliamentarian. In his petition, Pakistan Muslim League (Quaid-e-Azam) candidate Ijaz Chaudhry has challenged the election of the governing
Published 21 Apr, 2016 12:00am
78th death anniversary of Allama Iqbal today

78th death anniversary of Allama Iqbal today

The 78Th death anniversary of the national poet-philosopher - Dr Allama Muhammad Iqbal is being observed today all over the country. Allama Muhammad Iqbal was born in Sialkot on November 9, 1877 and died in Lahore on 21st April 1938. He is revered as Muff
Published 21 Apr, 2016 12:00am
Ayyan's name put on ECL again

Ayyan's name put on ECL again

Interior Ministry has again put the name of supermodel Ayyan on the Exit Control List (ECL). Sources said that the FBR had requested the Ministry to put Ayyan's name on ECL again, after it was removed earlier in the day as per the Supreme Court order.The
Published 21 Apr, 2016 12:00am
Exports of textile sector decline by 8.16 percent in nine months
Cotton

Exports of textile sector decline by 8.16 percent in nine months

Exports of textile sector have declined by 8.16 per cent during the first nine months of the current fiscal year, according to Pakistan Bureau of statistics (PBS). PBS released data of selected commodities exports for the period of July-March 2015-16 show
Published 21 Apr, 2016 12:00am
Duties and taxes: PTC contributes over Rs 23 billion to exchequer in Q1

Duties and taxes: PTC contributes over Rs 23 billion to exchequer in Q1

A leading multinational cigarette manufacturing company has contributed over Rs 23 billion to the Federal Board of Revenue (FBR) in the form of duties and taxes during the first quarter (July-March) of 2016. According to an announcement of the company her
Published 21 Apr, 2016 12:00am
EU envoy meets Bilawal

EU envoy meets Bilawal

EU Ambassador Jean Francois Cautain called on PPP Chairman Bilawal Bhutto Zardari at Zardari House Islamabad on Wednesday evening. Issues of mutual interests were discussed in the meeting. Central Information Secretaries of PPP and PPPP Qamar Zaman Kaira
Published 21 Apr, 2016 12:00am
Biggest-ever tax evasion case of builder unearthed

Biggest-ever tax evasion case of builder unearthed

Directorate General of Intelligence and Investigation Inland Revenue (IR) has unearthed the biggest tax evasion case of a builder/developer in the history of Pakistan involving approximately tax liability of Rs 58.8 billion calculated on total tax conceal
Published 21 Apr, 2016 12:00am
Cotton touches highest in over three months
Cotton

Cotton touches highest in over three months

Cotton futures rose on Tuesday for a second session to the highest level in over three months on buying from speculators and index funds, amid a weak dollar and overall uptrend in commodities. Speculators and index funds are buying across the commodities
Published 21 Apr, 2016 12:00am
Increased prices, subsidies to aid Mali cotton crop
Cotton

Increased prices, subsidies to aid Mali cotton crop

Higher prices and government fertiliser subsidies could help Mali meet ambitious cotton production targets next season after it missed output goals this year, the Malian Company for the Development of Textiles (CMDT) said on Wednesday. West Africa's bigge
Published 21 Apr, 2016 12:00am
Shanghai copper rises
Exchange

Shanghai copper rises

Shanghai Futures Exchange copper traded at 37,360 yuan ($5,779) up 1.2 percent on Wednesday but down from an intraday high. China's industrial output surprised to the upside last month, while rising property prices suggested an economic recovery is taking
Published 21 Apr, 2016 12:00am
Aluminium jumps to six-month peak, copper climbs
Exchange

Aluminium jumps to six-month peak, copper climbs

Aluminium hit a six-month peak on Wednesday as the appetite for risk increased among investors who took a more upbeat view on the Chinese economy and saw commodities as relatively cheap. A bounce in oil prices also bolstered metals markets, helping send z
Published 21 Apr, 2016 12:00am
Rubber up
Exchange

Rubber up

Benchmark Tokyo rubber futures ended up 2.1 percent at an eight-month high on Wednesday supported by strong Shanghai futures as a slide in oil prices that pared most of the previous day's gains did little to dent market sentiment, sources said. "TOCOM fol
Published 21 Apr, 2016 12:00am
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