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Print - 2016-04-26
Saudi Arabia seeks CPEC's extension to the Red Sea, Africa

Saudi Arabia seeks CPEC's extension to the Red Sea, Africa

Saudi Arabian Minister for Economic Planning Engineer Adil Al Faqih on Monday said his country was keen to work with Pakistan and China and desired that the mega project of China Pakistan Economic Corridor (CPEC) should be extended to the Red Sea and Afri
Published 26 Apr, 2016 12:00am
IMF urges Gulf states to adapt to lower oil prices

IMF urges Gulf states to adapt to lower oil prices

The International Monetary Fund forecast Monday economic growth in the six-nation Gulf Cooperation Council will be 1.8 percent this year, down from 3.3 percent in 2015, and urged spending cutbacks. In an interview with AFP, IMF regional chief Masood Ahmed
Published 26 Apr, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 26 Apr, 2016 12:00am
IMF urges Gulf states to adapt to lower oil prices

IMF urges Gulf states to adapt to lower oil prices

The International Monetary Fund forecast Monday economic growth in the six-nation Gulf Cooperation Council will be 1.8 percent this year, down from 3.3 percent in 2015, and urged spending cutbacks. In an interview with AFP, IMF regional chief Masood Ahmed
Published 26 Apr, 2016 12:00am
IMF urges Gulf states to adapt to lower oil prices

IMF urges Gulf states to adapt to lower oil prices

The International Monetary Fund forecast Monday economic growth in the six-nation Gulf Cooperation Council will be 1.8 percent this year, down from 3.3 percent in 2015, and urged spending cutbacks. In an interview with AFP, IMF regional chief Masood Ahmed
Published 26 Apr, 2016 12:00am
Afghan Taliban Qatar's office team arrives

Afghan Taliban Qatar's office team arrives

A delegation of the Afghan Taliban Qatar's office has reportedly arrived in Pakistan to discuss the possible direct interaction between Kabul and the insurgents in the country. According to diplomatic sources, the delegation of the Taliban's Qatar office
Published 26 Apr, 2016 12:00am
Stalled dialogue process: foreign secretaries to meet in New Delhi today

Stalled dialogue process: foreign secretaries to meet in New Delhi today

The foreign secretaries of Pakistan and India will meet in New Delhi on Tuesday (today) to discuss the stalled dialogue process between the two countries, it was learnt. According to Foreign Office spokesperson Nafees Zakaria, Foreign Secretary Aizaz Ahme
Published 26 Apr, 2016 12:00am
Stalled dialogue process: foreign secretaries to meet in New Delhi today

Stalled dialogue process: foreign secretaries to meet in New Delhi today

The foreign secretaries of Pakistan and India will meet in New Delhi on Tuesday (today) to discuss the stalled dialogue process between the two countries, it was learnt. According to Foreign Office spokesperson Nafees Zakaria, Foreign Secretary Aizaz Ahme
Published 26 Apr, 2016 12:00am
Mother seeks pardon for paralysed son on death row

Mother seeks pardon for paralysed son on death row

The mother of a paraplegic inmate on death row on Monday urged the country's president to pardon her son. Nusrat Perveen said that President Mamnoon Hussain had ordered authorities to halt the execution of her son Abdul Basit in January, hours before he w
Published 26 Apr, 2016 12:00am
US disburses $223.6 million under CSF

US disburses $223.6 million under CSF

The United States (US) has disbursed $223.6 million under Coalition Support Fund (CSF) to Pakistan, State Bank of Pakistan (SBP) officials confirmed to Business Recorder here on Monday. In reply to a query, US Embassy in Islamabad responded that th
Published 26 Apr, 2016 12:00am
Afghan Taliban Qatar's office team arrives

Afghan Taliban Qatar's office team arrives

A delegation of the Afghan Taliban Qatar's office has reportedly arrived in Pakistan to discuss the possible direct interaction between Kabul and the insurgents in the country. According to diplomatic sources, the delegation of the Taliban's Qatar office
Published 26 Apr, 2016 12:00am
Court defers Dr Asim's indictment till May 6

Court defers Dr Asim's indictment till May 6

An Accountability court Karachi on Monday deferred indictment of former petroleum minister Dr Asim Hussain in a corruption reference case and adjourned the hearing till May 06 on absence of state counsel. Reference pertaining to illegal allotment, corrupt
Published 26 Apr, 2016 12:00am
Gay rights activist among two hacked to death in Bangladesh

Gay rights activist among two hacked to death in Bangladesh

Two leading gay rights activists were hacked to death Monday at an apartment in Bangladesh's capital, police said, the latest deadly attack on minorities in the Muslim-majority nation. Dhaka Metropolitan Police spokesman Maruf Hossain Sorder said at least
Published 26 Apr, 2016 12:00am
Court defers Dr Asim's indictment till May 6

Court defers Dr Asim's indictment till May 6

An Accountability court Karachi on Monday deferred indictment of former petroleum minister Dr Asim Hussain in a corruption reference case and adjourned the hearing till May 06 on absence of state counsel. Reference pertaining to illegal allotment, corrupt
Published 26 Apr, 2016 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

The rupee managed to hold it's firmness against the dollar in the process of trading, dealers said. The rupee shed two paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.79 respectively, dealer said.
Published 26 Apr, 2016 12:00am
Gay rights activist among two hacked to death in Bangladesh

Gay rights activist among two hacked to death in Bangladesh

Two leading gay rights activists were hacked to death Monday at an apartment in Bangladesh's capital, police said, the latest deadly attack on minorities in the Muslim-majority nation. Dhaka Metropolitan Police spokesman Maruf Hossain Sorder said at least
Published 26 Apr, 2016 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

The rupee managed to hold it's firmness against the dollar in the process of trading, dealers said. The rupee shed two paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.79 respectively, dealer said.
Published 26 Apr, 2016 12:00am
Kachhi Canal project marred by irregularities, embezzlement

Kachhi Canal project marred by irregularities, embezzlement

The Ministry of Water and Power conducted serious irregularities, embezzlements and misappropriation in Kachhi Canal project and due to delay in the completion of project its cost escalated from Rs 31.21 billions to Rs 57.6 billions, it was learnt on Mond
Published 26 Apr, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (April 25, 2016).

Published 26 Apr, 2016 12:00am
Kachhi Canal project marred by irregularities, embezzlement

Kachhi Canal project marred by irregularities, embezzlement

The Ministry of Water and Power conducted serious irregularities, embezzlements and misappropriation in Kachhi Canal project and due to delay in the completion of project its cost escalated from Rs 31.21 billions to Rs 57.6 billions, it was learnt on Mond
Published 26 Apr, 2016 12:00am
Kachhi Canal project marred by irregularities, embezzlement

Kachhi Canal project marred by irregularities, embezzlement

The Ministry of Water and Power conducted serious irregularities, embezzlements and misappropriation in Kachhi Canal project and due to delay in the completion of project its cost escalated from Rs 31.21 billions to Rs 57.6 billions, it was learnt on Mond
Published 26 Apr, 2016 12:00am
Ghani implores Pakistan to battle Taliban

Ghani implores Pakistan to battle Taliban

Afghan President Ashraf Ghani Monday implored Pakistan to battle the Taliban instead of trying to bring them to peace talks, in a new hard-line stance after a brazen insurgent attack killed at least 64 people. The assault last Tuesday on a security servic
Published 26 Apr, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (April 25, 2016).

Published 26 Apr, 2016 12:00am
Ghani implores Pakistan to battle Taliban

Ghani implores Pakistan to battle Taliban

Afghan President Ashraf Ghani Monday implored Pakistan to battle the Taliban instead of trying to bring them to peace talks, in a new hard-line stance after a brazen insurgent attack killed at least 64 people. The assault last Tuesday on a security servic
Published 26 Apr, 2016 12:00am
Gannett bids for Tribune Publishing newspaper rival

Gannett bids for Tribune Publishing newspaper rival

US newspaper giant Gannett on Monday announced an $815 million bid for rival Tribune Publishing to create a powerhouse combining USA Today with the Los Angeles Times and Chicago Tribune. The plan would bring together two large newspaper groups which have
Published 26 Apr, 2016 12:00am
Gannett bids for Tribune Publishing newspaper rival

Gannett bids for Tribune Publishing newspaper rival

US newspaper giant Gannett on Monday announced an $815 million bid for rival Tribune Publishing to create a powerhouse combining USA Today with the Los Angeles Times and Chicago Tribune. The plan would bring together two large newspaper groups which have
Published 26 Apr, 2016 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (April 25, 2016).

Published 26 Apr, 2016 12:00am
Gannett bids for Tribune Publishing newspaper rival

Gannett bids for Tribune Publishing newspaper rival

US newspaper giant Gannett on Monday announced an $815 million bid for rival Tribune Publishing to create a powerhouse combining USA Today with the Los Angeles Times and Chicago Tribune. The plan would bring together two large newspaper groups which have
Published 26 Apr, 2016 12:00am
Gannett bids for Tribune Publishing newspaper rival

Gannett bids for Tribune Publishing newspaper rival

US newspaper giant Gannett on Monday announced an $815 million bid for rival Tribune Publishing to create a powerhouse combining USA Today with the Los Angeles Times and Chicago Tribune. The plan would bring together two large newspaper groups which have
Published 26 Apr, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (April 25, 2016)

Published 26 Apr, 2016 12:00am
The ToRs conundrum

The ToRs conundrum

This is apropos "Consensus on ToRs: Fretful coalition partners seeking to persuade PM" carried by Business Recorder on Sunday. According to it, coalition partners of the ruling Pakistan Muslim League-Nawaz (PML-N) are advising the government to app
Published 26 Apr, 2016 12:00am
German scientists seek way to end live chick shredding

German scientists seek way to end live chick shredding

In a basement of Dresden University, German scientists are busy refining a technique that could save millions of fluffy chicks from being shredded to death moments after they hatch. The young hatchlings are usually condemned to a violent end simply becaus
Published 26 Apr, 2016 12:00am
Taking on Tesla: China's Jia Yueting aims to outmuscle Musk

Taking on Tesla: China's Jia Yueting aims to outmuscle Musk

Tomorrow's cars will be all-electric, self-driving, connected to high-speed communications networks ... and free. And probably Chinese. That, at least, is the vision of Jia Yueting, a billionaire entrepreneur and one of a new breed of Chinese who see thei
Published 26 Apr, 2016 12:00am
Accountability - an ever-lasting myth?

Accountability - an ever-lasting myth?

The Army's sacking of eleven high-ranking officers and proceeding with recovery of the wealth they amassed through corruption, and the commitment of the CoAS that the Army will assist the state authorities in nabbing all corrupt elements indicates that th
Published 26 Apr, 2016 12:00am
Two rallies and a sit-in

Two rallies and a sit-in

Two rallies and one dharna in one single day: is it a seasonal boil in national politics, or something more than that? Is it that the anti-government political forces tend to draw vicarious sustenance from the CoAS General Raheel Sharif's take on corrupti
Published 26 Apr, 2016 12:00am
Privatisation snags

Privatisation snags

According to a Business Recorder exclusive, the Federal Finance Ministry has acknowledged to the International Monetary Fund (IMF) that the government's privatisation plan has experienced delays which would lower the number of planned transactions
Published 26 Apr, 2016 12:00am
Iran threatens US with action over frozen funds ruling

Iran threatens US with action over frozen funds ruling

Iran threatened Monday to take legal action in the International Court of Justice against the United States if $2 billion in frozen funds are "diverted" to compensate victims of attacks. On Thursday, Tehran said the US Supreme Court's decision to deduct $
Published 26 Apr, 2016 12:00am
Iran threatens US with action over frozen funds ruling

Iran threatens US with action over frozen funds ruling

Iran threatened Monday to take legal action in the International Court of Justice against the United States if $2 billion in frozen funds are "diverted" to compensate victims of attacks. On Thursday, Tehran said the US Supreme Court's decision to deduct $
Published 26 Apr, 2016 12:00am
Nearly 0.25 million online Hajj applications received: PITB chief

Nearly 0.25 million online Hajj applications received: PITB chief

Chairman Punjab IT Board (PITB) Dr Umar Saif has said that nearly 0.25 million applications for Hajj had been received through online system devised by the PITB in collaboration with the federal Ministry of Religious Affairs so far while April 26 is the l
Published 26 Apr, 2016 12:00am
Three killed in Kalat

Three killed in Kalat

At least three people have been killed, one injured in a firing incident near Surab town, a district of Kalat, Balochistan. According to police official, four people on two motorbikes were on their way when some unknown gunmen opened fire upon them, killi
Published 26 Apr, 2016 12:00am
Virtual University signs MoU with WWF-Pakistan

Virtual University signs MoU with WWF-Pakistan

Virtual University of Pakistan (VU) and WWF-Pakistan signed a Memorandum of Understanding (MoU) on April 25, 2016 to promote environmental education amongst the youth of the country. Through this MoU, both organisations will establish formal relationship
Published 26 Apr, 2016 12:00am
Bizenjo endorses formation of Judicial Commission

Bizenjo endorses formation of Judicial Commission

Senator Mir Hasil Khan Bizenjo Monday showing complete faith in the Prime Minister fully endorsed his decision of formation of a Judicial Commission. Mir Hasil Bizenjo who called on Prime Minister Nawaz Sharif here at PM House lauded the leadership of Pri
Published 26 Apr, 2016 12:00am
LHC reserves verdict on maintainability of petition

LHC reserves verdict on maintainability of petition

The Lahore High Court on Monday reserved its verdict on maintainability of a petition against alleged foreign assets maintained by incumbent and former rulers and others. The petitioner, Javed Iqbal Jafree, stated that the respondents transferred at least
Published 26 Apr, 2016 12:00am
Deserving communities: Hashoo Foundation launches project

Deserving communities: Hashoo Foundation launches project

Hashoo Foundation, in collaboration with Islamabad Police, District Government and Local NGO, is working towards collecting unwanted/surplus items from urban areas of Islamabad and distributing them among identified deserving communities of rural and slum
Published 26 Apr, 2016 12:00am
Zarb-e-Ahan: CM Punjab meets families of martyred police officials

Zarb-e-Ahan: CM Punjab meets families of martyred police officials

Punjab Chief Minister Muhammad Shahbaz Sharif met the families of police officials who were martyred in operation Zarb-e-Ahan against criminal elements in Kutcha area of Rajanpur at Police Lines, Rajanpur and also addressed Police Darbar. Talking to the h
Published 26 Apr, 2016 12:00am
Nisar to hold important meetings in London

Nisar to hold important meetings in London

Minister for Interior, Chaudhary Nisar Ali Khan will hold meeting with his British counterpart, Theresa May in London on Tuesday to discuss situation relating to regional security. The Minister, who has reached London after attending a Special Session of
Published 26 Apr, 2016 12:00am
Three bodies found in Turbat

Three bodies found in Turbat

The law enforcement personnel found three bodies dumped in Hoshab area of Turbat, on Monday. The official sources said that unknown accused shot killed three people and dumped their bodies in Hoshab area of Kech Turbat. "The police received presence of th
Published 26 Apr, 2016 12:00am
Names of 13 target killers revealed

Names of 13 target killers revealed

Shakeel Sunny, a target killer affiliated with a political party who is in police custody during investigation on Monday revealed the names of other 13 target killers involved in the killings across the Karachi. Two other accused involved in target killin
Published 26 Apr, 2016 12:00am
SHC allows family members to meet alleged terrorists

SHC allows family members to meet alleged terrorists

The Sindh High Court (SHC) on Monday allowed the five detained alleged terrorists to meet their family members in a sub-jail as per jail manual. Raheel Lodhi, Rehan-ud-din, Wajeeh-ud-din, Nadir Khan and Muneer are currently in Rangers 90-day preventive de
Published 26 Apr, 2016 12:00am
MQM delegation calls on Sindh CM

MQM delegation calls on Sindh CM

Sindh Chief Minister Syed Qaim Ali Shah has said that his government believes in co-existence and has never unleashed a policy of in victimisation. This he said while talking to a delegation of MQM led by Syed Sardar Ahmed and Opposition Leader in Sindh A
Published 26 Apr, 2016 12:00am
Five persons found involved in power theft held

Five persons found involved in power theft held

Islamabad Electric Supply Company (IESCO) apprehended five electricity thieves upon the special directives of Chief Executive Officer Dr Rana Abdul Jabbar Khan in different areas of IESCO region. According to the details, three culprits were caught red-ha
Published 26 Apr, 2016 12:00am
LCCI, BBC ink MoU on trade relations

LCCI, BBC ink MoU on trade relations

The Lahore Chamber of Commerce and Industry and the British Business Centre (BBC) on Monday inked a memorandum of understanding (MoU) aimed at expansion of trade and economic ties between Pakistan and United Kingdom. The LCCI Senior Vice President Almas H
Published 26 Apr, 2016 12:00am
FESCO BoD meeting held

FESCO BoD meeting held

Chairman Faisalabad Electric Supply Company (FESCO) Board of Directors (BOD) Khurram Mukhtar said that FESCO Board is adhering to principals of the good governance and taking every possible step for the development and progress of the company so that best
Published 26 Apr, 2016 12:00am
Wheat procurement drive begins in Punjab
Cotton

Wheat procurement drive begins in Punjab

Punjab Food Minister Bilal Yasin inaugurated the wheat procurement drive on Monday. The minister while addressing a press conference held at Multan Circuit House has said the government would procure four million metric ton of wheat this year and it would
Published 26 Apr, 2016 12:00am
Minor dies due to measles

Minor dies due to measles

A three-year-old child died due to outbreak of measles in Shudani, far-flung and hilly area of tehsil Jamrud in Khyber Agency. Local tribesmen said on Monday that dozens of children have suffered by the fatal disease and were brought to Jamrud hospital fo
Published 26 Apr, 2016 12:00am
Budget proposals: APBF begins consultations on final preparation

Budget proposals: APBF begins consultations on final preparation

All Pakistan Business Forum (APBF) has started consultations for final preparation of the federal budget proposals for 2016-17. This was announced in a meeting chaired by APBF President Ibrahim Qureshi to finalise the budget proposals. Promoting foreign d
Published 26 Apr, 2016 12:00am
Budget proposals: APBF begins consultations on final preparation

Budget proposals: APBF begins consultations on final preparation

All Pakistan Business Forum (APBF) has started consultations for final preparation of the federal budget proposals for 2016-17. This was announced in a meeting chaired by APBF President Ibrahim Qureshi to finalise the budget proposals. Promoting foreign d
Published 26 Apr, 2016 12:00am
Cultivation of canola may help save Rs 112.5 billion

Cultivation of canola may help save Rs 112.5 billion

Bringing the per acre yield of wheat in Punjab at par with Sindh could help spare 3.6 million acres of land for cultivation of canola crop in the province thus leading to decrease in dependence on imports to meet the edible oil requirement. The cultivatio
Published 26 Apr, 2016 12:00am
France envoy for enhancing bilateral trade

France envoy for enhancing bilateral trade

Ambassador of France to Pakistan Ms Martine Dorance on Monday said that France and Pakistan are enjoying highly cordial relations since long and these ties would be further strengthened with the passage of time. Addressing the members of Sialkot Chamber o
Published 26 Apr, 2016 12:00am
FCCI making efforts to increase exports from Faisalabad

FCCI making efforts to increase exports from Faisalabad

Faisalabad Chamber of Commerce and Industry (FCCI) is making strenuous efforts to increase exports from Faisalabad and in this connection it was regularly sending trade delegations to the different countries to explore new business opportunities, said Cha
Published 26 Apr, 2016 12:00am
Faysal Bank launches new product

Faysal Bank launches new product

Faysal Bank Limited (FBL), keeping in line with its commitment to provide the best for its customers, introduces Faysal Izafa Premium-Term Deposit. Faysal Izafa Premium is a term deposit product especially designed for individuals who are looking to earn
Published 26 Apr, 2016 12:00am
Sindh regional 'power house of future': Qaim

Sindh regional 'power house of future': Qaim

Sindh Chief Minister, Syed Qaim Ali Shah has said that his government has created a conducive investment atmosphere in the province. The Sindh Government provides all necessary facilities and protection to the national as well as foreign investors and thi
Published 26 Apr, 2016 12:00am
Lucky Cement posts Rs 9.61 billion net profit in nine months

Lucky Cement posts Rs 9.61 billion net profit in nine months

Lucky Cement Limited reported net profit of Rs 9.61 billion for the nine months ended March 31, 2016 which is 3.3 percent higher than the same period last year. Consequently, the earnings per share (EPS) for the nine months increased to Rs 29.73 compared
Published 26 Apr, 2016 12:00am
Sindh faces Rs 70 billion revenue shortfall, PA told

Sindh faces Rs 70 billion revenue shortfall, PA told

Less federal share and low provincial collections pulled down Sindh''s revenues by Rs 70 billion over the last nine months that slowed down the ADP and other budgetary releases. Debating on the third fiscal quarter report - January-March 2016, Sindh Finan
Published 26 Apr, 2016 12:00am
Sindh faces Rs 70 billion revenue shortfall, PA told

Sindh faces Rs 70 billion revenue shortfall, PA told

Less federal share and low provincial collections pulled down Sindh's revenues by Rs 70 billion over the last nine months that slowed down the ADP and other budgetary releases. Debating on the third fiscal quarter report - January-March 2016, Sindh Financ
Published 26 Apr, 2016 12:00am
Sindh faces Rs 70 billion revenue shortfall, PA told

Sindh faces Rs 70 billion revenue shortfall, PA told

Less federal share and low provincial collections pulled down Sindh's revenues by Rs 70 billion over the last nine months that slowed down the ADP and other budgetary releases. Debating on the third fiscal quarter report - January-March 2016, Sindh Financ
Published 26 Apr, 2016 12:00am
Wheat operations financing: BoP declares financial closure

Wheat operations financing: BoP declares financial closure

The Bank of Punjab on Monday formally declared financial closure of its consortium for Wheat Commodity Operations Financing to Government of Punjab for the year 2016-17 under the auspices of its President Naeem-ud-Din Khan. The consortium deal has been fi
Published 26 Apr, 2016 12:00am
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