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Apr 17, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-05-06
Rise in inflation
Exchange

Rise in inflation

It is quite depressing to see that the rate of inflation which was previously in control is on the rise once again. According to the latest data released by the Federal Bureau of Statistics (FBS), the headline inflation as measured by the Consumer Price I
Published 06 May, 2016 12:00am
NHP settlement: Ministry seeks to tax consumers

NHP settlement: Ministry seeks to tax consumers

Amid opposition from stakeholders, Water and Power Development Authority (Wapda) on Thursday appealed to National Electric Power Regulatory Authority (Nepra) to increase hydel tariff by Rs 1.50 per unit to recover Rs 51 billion from power consumers to mak
Published 06 May, 2016 12:00am
NHP settlement: Ministry seeks to tax consumers

NHP settlement: Ministry seeks to tax consumers

Amid opposition from stakeholders, Water and Power Development Authority (Wapda) on Thursday appealed to National Electric Power Regulatory Authority (Nepra) to increase hydel tariff by Rs 1.50 per unit to recover Rs 51 billion from power consumers to mak
Published 06 May, 2016 12:00am
Moratorium on new gas connections lifted

Moratorium on new gas connections lifted

The government has lifted the moratorium on new gas connections in the country, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Thursday. He said this while briefing National Assembly Standing Committee on Petroleum and N
Published 06 May, 2016 12:00am
Moratorium on new gas connections lifted

Moratorium on new gas connections lifted

The government has lifted the moratorium on new gas connections in the country, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Thursday. He said this while briefing National Assembly Standing Committee on Petroleum and N
Published 06 May, 2016 12:00am
Moratorium on new gas connections lifted

Moratorium on new gas connections lifted

The government has lifted the moratorium on new gas connections in the country, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Thursday. He said this while briefing National Assembly Standing Committee on Petroleum and N
Published 06 May, 2016 12:00am
Post-mortem report: MQM worker's body bore torture marks

Post-mortem report: MQM worker's body bore torture marks

The post-mortem report of MQM worker Aftab Ahmed, who died in Rangers' custody, said several torture marks were visible on his body. The examination report, a copy of which is available with Business Recorder, stated that the body was full of bruis
Published 06 May, 2016 12:00am
Post-mortem report: MQM worker's body bore torture marks

Post-mortem report: MQM worker's body bore torture marks

The post-mortem report of MQM worker Aftab Ahmed, who died in Rangers' custody, said several torture marks were visible on his body. The examination report, a copy of which is available with Business Recorder, stated that the body was full of bruis
Published 06 May, 2016 12:00am
Board Meetings
Exchange

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2016 12:00am
Davutoglu to quit as Erdogan tightens grip

Davutoglu to quit as Erdogan tightens grip

Turkey's Prime Minister Ahmet Davutoglu on Thursday announced he would step down in two weeks as ruling party chief and premier, in a shock exit set to further boost President Recep Tayyip Erdogan's growing powers. Divisions between Davutoglu and Erdogan
Published 06 May, 2016 12:00am
Davutoglu to quit as Erdogan tightens grip

Davutoglu to quit as Erdogan tightens grip

Turkey's Prime Minister Ahmet Davutoglu on Thursday announced he would step down in two weeks as ruling party chief and premier, in a shock exit set to further boost President Recep Tayyip Erdogan's growing powers. Divisions between Davutoglu and Erdogan
Published 06 May, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2016 12:00am
London looks set to elect Muslim mayor

London looks set to elect Muslim mayor

London was on track to become the first EU capital with a Muslim mayor as voters went to the polls Thursday after a bitter campaign between Prime Minister David Cameron's Conservatives and the opposition Labour party. Labour lawmaker Sadiq Khan, a former
Published 06 May, 2016 12:00am
London looks set to elect Muslim mayor

London looks set to elect Muslim mayor

London was on track to become the first EU capital with a Muslim mayor as voters went to the polls Thursday after a bitter campaign between Prime Minister David Cameron's Conservatives and the opposition Labour party. Labour lawmaker Sadiq Khan, a former
Published 06 May, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
Dar meets Indian counterpart
Exchange

Dar meets Indian counterpart

Finance Minister Ishaq Dar and his Indian counterpart Arun Jaitly had a brief informal interaction on Wednesday on the sidelines of the Annual General Meeting of the Asian Development Bank (ADB). The two finance ministers met when Mr Dar was on the way to
Published 06 May, 2016 12:00am
Dar meets Indian counterpart
Exchange

Dar meets Indian counterpart

Finance Minister Ishaq Dar and his Indian counterpart Arun Jaitly had a brief informal interaction on Wednesday on the sidelines of the Annual General Meeting of the Asian Development Bank (ADB). The two finance ministers met when Mr Dar was on the way to
Published 06 May, 2016 12:00am
Dar meets Indian counterpart
Exchange

Dar meets Indian counterpart

Finance Minister Ishaq Dar and his Indian counterpart Arun Jaitly had a brief informal interaction on Wednesday on the sidelines of the Annual General Meeting of the Asian Development Bank (ADB). The two finance ministers met when Mr Dar was on the way to
Published 06 May, 2016 12:00am
Dar elected ADB Vice Chairman

Dar elected ADB Vice Chairman

Finance Minister Ishaq Dar has unanimously been elected as Vice Chairman of the Asian Development Bank (ADB) for 2016-2017 He was elected during annual meeting of the Board of Governors of the Bank at Frankfurt on Thursday. Ishaq Dar speaking on the occas
Published 06 May, 2016 12:00am
Dar elected ADB Vice Chairman

Dar elected ADB Vice Chairman

Finance Minister Ishaq Dar has unanimously been elected as Vice Chairman of the Asian Development Bank (ADB) for 2016-2017 He was elected during annual meeting of the Board of Governors of the Bank at Frankfurt on Thursday. Ishaq Dar speaking on the occas
Published 06 May, 2016 12:00am
THE RUPEE: gains persist
Currency

THE RUPEE: gains persist

The rupee inched up in relation to the dollar on Thursday on the money market on Thursday, dealers said. The rupee gained three paisas versus their dollar for buying and selling at Rs 104.68 and Rs 104.69 respectively, dealer said.
Published 06 May, 2016 12:00am
Dar elected ADB Vice Chairman

Dar elected ADB Vice Chairman

Finance Minister Ishaq Dar has unanimously been elected as Vice Chairman of the Asian Development Bank (ADB) for 2016-2017 He was elected during annual meeting of the Board of Governors of the Bank at Frankfurt on Thursday. Ishaq Dar speaking on the occas
Published 06 May, 2016 12:00am
THE RUPEE: gains persist
Currency

THE RUPEE: gains persist

The rupee inched up in relation to the dollar on Thursday on the money market on Thursday, dealers said. The rupee gained three paisas versus their dollar for buying and selling at Rs 104.68 and Rs 104.69 respectively, dealer said.
Published 06 May, 2016 12:00am
FBR freezes OGDCL accounts to recover Rs 2.5 billion

FBR freezes OGDCL accounts to recover Rs 2.5 billion

Large Taxpayers Unit (LTU), Islamabad, has frozen the bank accounts of Oil and Gas Development Company Limited (OGDCL) to recover outstanding sales tax demand worth more than Rs 2.5 billion. The Large Taxpayers Unit, Islamabad, detected various purported
Published 06 May, 2016 12:00am
FBR freezes OGDCL accounts to recover Rs 2.5 billion

FBR freezes OGDCL accounts to recover Rs 2.5 billion

Large Taxpayers Unit (LTU), Islamabad, has frozen the bank accounts of Oil and Gas Development Company Limited (OGDCL) to recover outstanding sales tax demand worth more than Rs 2.5 billion. The Large Taxpayers Unit, Islamabad, detected various purported
Published 06 May, 2016 12:00am
FBR freezes OGDCL accounts to recover Rs 2.5 billion

FBR freezes OGDCL accounts to recover Rs 2.5 billion

Large Taxpayers Unit (LTU), Islamabad, has frozen the bank accounts of Oil and Gas Development Company Limited (OGDCL) to recover outstanding sales tax demand worth more than Rs 2.5 billion. The Large Taxpayers Unit, Islamabad, detected various purported
Published 06 May, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
MSF to skip UN aid summit

MSF to skip UN aid summit

Medical charity Doctors Without Borders (MSF) has pulled out of a UN-backed World Humanitarian Summit, saying the gathering would fail to pressure governments that are denying basic help to victims of conflict and disease. "We no longer have any hope that
Published 06 May, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
Bangladesh Jamaat-e-Islami leader to hang for 'war crimes'

Bangladesh Jamaat-e-Islami leader to hang for 'war crimes'

The leader of Bangladesh's Jamaat-e-Islami is set to hang within days after the Supreme Court on Thursday upheld his death sentence for war crimes. Motiur Rahman Nizami was convicted of murder, rape and orchestrating the killing of intellectuals in 1971.
Published 06 May, 2016 12:00am
Bangladesh Jamaat-e-Islami leader to hang for 'war crimes'

Bangladesh Jamaat-e-Islami leader to hang for 'war crimes'

The leader of Bangladesh's Jamaat-e-Islami is set to hang within days after the Supreme Court on Thursday upheld his death sentence for war crimes. Motiur Rahman Nizami was convicted of murder, rape and orchestrating the killing of intellectuals in 1971.
Published 06 May, 2016 12:00am
Corporate bill: lawyer identifies pitfalls, helps thwart passage

Corporate bill: lawyer identifies pitfalls, helps thwart passage

Chairman Senate Standing Committee on Finance Saleem Mandviwala was unable to ensure the passage of the 'Corporate Rehabilitation Bill 2015' due to opposition of the committee members subsequent to a briefing on the drawbacks of the proposed law by lawyer
Published 06 May, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (May 05, 2016)

Published 06 May, 2016 12:00am
Corporate bill: lawyer identifies pitfalls, helps thwart passage

Corporate bill: lawyer identifies pitfalls, helps thwart passage

Chairman Senate Standing Committee on Finance Saleem Mandviwala was unable to ensure the passage of the 'Corporate Rehabilitation Bill 2015' due to opposition of the committee members subsequent to a briefing on the drawbacks of the proposed law by lawyer
Published 06 May, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
Corporate bill: lawyer identifies pitfalls, helps thwart passage

Corporate bill: lawyer identifies pitfalls, helps thwart passage

Chairman Senate Standing Committee on Finance Saleem Mandviwala was unable to ensure the passage of the ''Corporate Rehabilitation Bill 2015'' due to opposition of the committee members subsequent to a briefing on the drawbacks of the proposed law by lawy
Published 06 May, 2016 12:00am
Britain's BT Group to invest £6.0 billion to extend superfast Internet

Britain's BT Group to invest £6.0 billion to extend superfast Internet

Telecoms and television broadcasting firm BT Group on Thursday said it planned to invest £6.0 billion ($8.7 billion, 7.6 billion euros) over three years to extend superfast Internet connections across Britain. The announcement comes as the British group,
Published 06 May, 2016 12:00am
Britain's BT Group to invest £6.0 billion to extend superfast Internet

Britain's BT Group to invest £6.0 billion to extend superfast Internet

Telecoms and television broadcasting firm BT Group on Thursday said it planned to invest £6.0 billion ($8.7 billion, 7.6 billion euros) over three years to extend superfast Internet connections across Britain. The announcement comes as the British group,
Published 06 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
Britain''s BT Group to invest £6.0 billion to extend superfast Internet

Britain''s BT Group to invest £6.0 billion to extend superfast Internet

Telecoms and television broadcasting firm BT Group on Thursday said it planned to invest £6.0 billion ($8.7 billion, 7.6 billion euros) over three years to extend superfast Internet connections across Britain. The announcement comes as the British group,
Published 06 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2016).

Published 06 May, 2016 12:00am
The Weather

The Weather

The weather report on Thursday (May 05, 2016) and the forecast for Friday (May 06, 2016).

Published 06 May, 2016 12:00am
Four dead in Saudi raid on 'terror' cell

Four dead in Saudi raid on 'terror' cell

Saudi police shot dead two suspected militants and two others blew themselves up during a raid near the holy city of Makkah on Thursday, the interior ministry said. "The terrorists started shooting towards security forces, which they responded to", leadin
Published 06 May, 2016 12:00am
Four dead in Saudi raid on 'terror' cell

Four dead in Saudi raid on 'terror' cell

Saudi police shot dead two suspected militants and two others blew themselves up during a raid near the holy city of Makkah on Thursday, the interior ministry said. "The terrorists started shooting towards security forces, which they responded to", leadin
Published 06 May, 2016 12:00am
Cheema made CEO Shell Pakistan

Cheema made CEO Shell Pakistan

Jawwad Cheema has been appointed as the chief executive officer/managing director of Shell Pakistan Limited, said a statement the multinational oil firm issued on Thursday. To take charge from August 1, Cheema would replace Omar Sheikh who is moving on to
Published 06 May, 2016 12:00am
Cheema made CEO Shell Pakistan

Cheema made CEO Shell Pakistan

Jawwad Cheema has been appointed as the chief executive officer/managing director of Shell Pakistan Limited, said a statement the multinational oil firm issued on Thursday. To take charge from August 1, Cheema would replace Omar Sheikh who is moving on to
Published 06 May, 2016 12:00am
Cheema made CEO Shell Pakistan

Cheema made CEO Shell Pakistan

Jawwad Cheema has been appointed as the chief executive officer/managing director of Shell Pakistan Limited, said a statement the multinational oil firm issued on Thursday. To take charge from August 1, Cheema would replace Omar Sheikh who is moving on to
Published 06 May, 2016 12:00am
CEIF signs MoU with ISRA

CEIF signs MoU with ISRA

Centre for Excellence in Islamic Finance (CEIF), IMScience Peshawar, has signed a Memorandum of Standing (MoU) with International Shariah Research Academy (ISRA) for Islamic Finance, aiming at to look forward to a productive and wonderful partnership. In
Published 06 May, 2016 12:00am
SBBU holds seminar on human rights issues

SBBU holds seminar on human rights issues

The Federal Ministry of Human Rights in collaboration with Shaheed Benazir Bhutto University, Shaheed Benazirabad organised a seminar on Human Rights - Education and Sensitisation on Thursday under the Action Plan for Human Rights. The overall objective o
Published 06 May, 2016 12:00am
FPCCI for protection of locally-manufactured raw materials

FPCCI for protection of locally-manufactured raw materials

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested that the customs duty on all basic industrial raw materials that are not produced locally should be between 2 percent and 5 percent. It said that the locally manufactured raw m
Published 06 May, 2016 12:00am
Relief allowance: MoF hasn't agreed to proposal

Relief allowance: MoF hasn't agreed to proposal

The Finance Ministry reportedly has not agreed to the proposal of allowing merger of 50 percent ad hoc relief allowance into the basic pay scale of the federal government employees due to fiscal constraints, it was learnt on Thursday. Sources in the Finan
Published 06 May, 2016 12:00am
18,000 litres of adulterated milk seized

18,000 litres of adulterated milk seized

Islamabad Capital Territory (ICT) administration on Thursday thwarted an attempt to supply 18,000 litres contaminated milk to outlets in the federal capital. An official said that the ICT team headed by magistrate Abdul Hadi along with officials of distri
Published 06 May, 2016 12:00am
National Skill Show held

National Skill Show held

National Vocational and Technical Training Commission organised a National Skill Show in which hundreds of trainees participated and exhibited their skills in various trades. This initiative not only boosted the morale of the trainees but also created awa
Published 06 May, 2016 12:00am
Mineral grease: valuations revised

Mineral grease: valuations revised

The Directorate General of Customs Valuation Karachi has revised customs values on the import of mineral grease from China, India, Korea, UAE and Iran. According to the valuation ruling number 830 of 2016 issued here on Thursday, the customs values of min
Published 06 May, 2016 12:00am
ANF arrests 22 peddlers

ANF arrests 22 peddlers

Anti-Narcotic Force (ANF) Khyber Pakhtunkhwa on Thursday arrested more than 22 drug dealers during a drive against peddlers at different places of the provincial capital and recovered heroin from their possession. According to provincial ANF sources that
Published 06 May, 2016 12:00am
Pakistan participates in UN International Bazaar in New York

Pakistan participates in UN International Bazaar in New York

A range of Pakistani products, both food and merchandise were on display and for sale at the annual United Nations International Bazaar held on Wednesday at UN Headquarters in New York. Braving cold weather and intermittent rain, a large number of people
Published 06 May, 2016 12:00am
Countrywide crackdown directed against encroachers on PR lands

Countrywide crackdown directed against encroachers on PR lands

A parliamentary panel on Thursday directed for a crackdown against the encroachers on 4246.9 acres of Pakistan Railways lands across the country. The Sub-Committee of the National Assembly Standing committee on Railways met with Ramesh Lal in the chair wh
Published 06 May, 2016 12:00am
Exhibitions organised by TDAP: Senate body orders audit of expenditure

Exhibitions organised by TDAP: Senate body orders audit of expenditure

Senate Standing Committee on Commerce headed by Senator Shibli Faraz on Thursday ordered a thorough audit of the expenditure incurred on exhibitions organised by the Trade Development of Pakistan (TDAP) aimed at determining the way national exchequer was
Published 06 May, 2016 12:00am
SECP holds session about electronic filing, VOSS in Gujranwala

SECP holds session about electronic filing, VOSS in Gujranwala

In order to create awareness about electronic filing system and the newly launched Virtual One Stop Shop (VOSS), the Securities and Exchange Commission of Pakistan (SECP) organised a seminar on "VOSS and mandatory online submission of returns and document
Published 06 May, 2016 12:00am
'Operation Combat' initiated against rodents in Peshawar

'Operation Combat' initiated against rodents in Peshawar

Since the fixing of head money for killing large rodents in the provincial capital of Khyber Pakhtunkhwa did not yield positive results, the district administration of Peshawar has now announced "operation combat" against rodents that had claimed the live
Published 06 May, 2016 12:00am
Water for livelihood: work plan finalised for Chitral, Karak districts

Water for livelihood: work plan finalised for Chitral, Karak districts

A meeting on water for livelihood in Khyber Pakhtunkhwa was held at Planning & Development department in Civil Secretariat Peshawar on Thursday. Head of Swiss Development Corporation while briefing the meeting on this occasion revealed that work plan for
Published 06 May, 2016 12:00am
Last prosecution witness in Benazir Bhutto murder case cross-examined

Last prosecution witness in Benazir Bhutto murder case cross-examined

The last prosecution witness in Benazir Bhutto murder case, former additional Director General of the Federal Investigation Agency (FIA), Mohammad Khalid Qureshi, was crossed examined in the Anti-Terrorism Court. In his statement recorded on Wednesday, Qu
Published 06 May, 2016 12:00am
Slapping a head constable: arrest warrants for Bukhari, his son issued

Slapping a head constable: arrest warrants for Bukhari, his son issued

The Islamabad Police on Thursday obtained arrest warrants for former Senate Chairman Nayyar Hussain Bukhari and his son for thrashing a policeman on May 4 at district courts. A senior official of the police said that civil judge Jawad Hussain Adil issued
Published 06 May, 2016 12:00am
Sindh government may take over DFID's primary education project

Sindh government may take over DFID's primary education project

Sindh Education department is in talks with the Department for International Development (DFID) of UK to take over its primary education project. Sources in Sindh Education Ministry revealed that DFID has successfully completed its pilot project to enroll
Published 06 May, 2016 12:00am
Supreme Court directs to remove billboards in Karachi within 15 days

Supreme Court directs to remove billboards in Karachi within 15 days

Supreme Court (SC) on Thursday ordered to remove all the billboards fixed at public areas, flyovers, streets, green belts and footpaths in Karachi within 15 days. A three-member bench headed by Justice Saqib Nisar conducted the hearing in SC Karachi regis
Published 06 May, 2016 12:00am
KCBF urges government to re-open hedge trading of raw cotton
Cotton

KCBF urges government to re-open hedge trading of raw cotton

Meeting of member's of Karachi Cotton Broker's Forum (KCBF) and members of Broker's Advisory Committee (BAC) was held on Wednesday in trading hall of the Karachi Cotton Exchange Building. The meeting was chaired by Chairman Naseem Usman and it discussed t
Published 06 May, 2016 12:00am
Hale, Qaim inaugurate Rs 328 million maternity ward project at JPMC

Hale, Qaim inaugurate Rs 328 million maternity ward project at JPMC

Sindh Chief Minister Syed Qaim Ali Shah and US Ambassador David Hale Thursday inaugurated Rs 328 million maternity ward project at Jinnah Postgraduate Medical Center (JPMC), funded by the US Agency for International Development (USAID). The 120-bed facili
Published 06 May, 2016 12:00am
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