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Sep 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-05-14
US retail sales rise strongly, boost economic outlook

US retail sales rise strongly, boost economic outlook

US retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter. The jump in sal
Published 14 May, 2016 12:00am
SWIFT reports new 'sophisticated' bank hacker attack

SWIFT reports new 'sophisticated' bank hacker attack

SWIFT, the global financial system used to move hundreds of billions of dollars a day, on Friday said highly sophisticated hackers had gained access to a bank aiming to hijack fund transfers made via the network. SWIFT - the Society for World-wide Interba
Published 14 May, 2016 12:00am
Malaysia's growth drops to slowest pace in 6.5 years
Currency

Malaysia's growth drops to slowest pace in 6.5 years

Malaysia had its slowest economic growth in 6-1/2 years in the first quarter, as the trading nation continues to feel the bite from low oil and commodity prices and tepid domestic demand. Growth from a year earlier was 4.2 percent in the first quarter, sl
Published 14 May, 2016 12:00am
Italy posts modest growth in first quarter
Currency

Italy posts modest growth in first quarter

Italy posted modest economic growth broadly in line with expectation in the first quarter, supported by firm domestic demand, data showed on Friday. Gross domestic product rose 0.3 percent from the previous three months, national statistics institute ISTA
Published 14 May, 2016 12:00am
Indian cenbank allows more foreign stake in private sector banks

Indian cenbank allows more foreign stake in private sector banks

The Reserve Bank of India has allowed foreign banks higher shareholding in private sector lenders in the country under exceptional situations as it tweaked the guidelines, against the backdrop of norms on licensing of new banks. With the changes, regulate
Published 14 May, 2016 12:00am
India announces new trademark, patent policy amid global pressure

India announces new trademark, patent policy amid global pressure

India announced a new intellectual property policy on Friday, speeding up the online registration of patents and trademarks, but resisted pressure from the United States and other Western countries to amend its patent laws. The policy will make the Depart
Published 14 May, 2016 12:00am
Philippine exports extend fall for 12th month in March

Philippine exports extend fall for 12th month in March

Philippine exports dropped for the 12th straight month in March on weak demand in key markets such as the United States and China. Shipments fell 15.1 percent from a year earlier to $4.61 billion, the biggest drop in six months, with seven of the country'
Published 14 May, 2016 12:00am
EBRD set for first Greek non-performing loans deal

EBRD set for first Greek non-performing loans deal

The European Bank for Reconstruction and Development expects its first deal to take over bad Greek loans in the coming weeks, one of its top officials said. Sabina Dziurman, the EBRD's director for Greece and Cyprus, told Reuters the moves should set the
Published 14 May, 2016 12:00am
US banking regulator to focus on energy, interest rate risks
Currency

US banking regulator to focus on energy, interest rate risks

The US regulator responsible for ensuring the soundness of the country's banking sector said on Wednesday it is ratcheting up its scrutiny of risks posed to institutions by fluctuating energy prices and interest rate changes. In a report laying out its ob
Published 14 May, 2016 12:00am
Telecom Egypt's first quarter net profit more than doubles

Telecom Egypt's first quarter net profit more than doubles

State-owned landline monopoly Telecom Egypt's first-quarter net profit jumped almost 116 percent due to growth in its retail business segment. The company posted a profit of 1.2 billion Egyptian pounds ($135 million) in the first three months of the year,
Published 14 May, 2016 12:00am
Telecom Egypt's first quarter net profit more than doubles

Telecom Egypt's first quarter net profit more than doubles

State-owned landline monopoly Telecom Egypt's first-quarter net profit jumped almost 116 percent due to growth in its retail business segment. The company posted a profit of 1.2 billion Egyptian pounds ($135 million) in the first three months of the year,
Published 14 May, 2016 12:00am
New York City's economy shows signs of slowing: report

New York City's economy shows signs of slowing: report

New York City's economy showed signs of a potential slow down in the first quarter as private sector wages stagnated, commercial real estate leasing cooled and venture capital investment fell for the first time in four years. The city's economy grew at a
Published 14 May, 2016 12:00am
Bank of Korea holds policy rate for 11th month, as expected

Bank of Korea holds policy rate for 11th month, as expected

South Korea's central bank kept its base interest rate steady for an 11th straight month on Friday, as expected. Market participants believe the BOK is waiting for more data before it cuts rates again to support a slow recovery hobbled by weak exports. Th
Published 14 May, 2016 12:00am
Business conditions at new low in Norway's oil region: survey
Currency

Business conditions at new low in Norway's oil region: survey

Companies based in Norway's west coast oil producing region saw fresh declines in demand, profitability and other current business conditions in the second quarter and many are reluctant to make major investments in 2016, a survey showed. The price of Nor
Published 14 May, 2016 12:00am
China's Hebei Steel to cut steelmaking capacity for 2016-17

China's Hebei Steel to cut steelmaking capacity for 2016-17

China's biggest steelmaker Hebei Iron & Steel Group plans to slash 5.02 million tonnes per year (tpy) of steelmaking capacity during 2016-17, the company said on Friday, as the government aims to cut overcapacity in the bloated steel sector. The steelmake
Published 14 May, 2016 12:00am
Singapore, Britain agree to help their fintech firms

Singapore, Britain agree to help their fintech firms

Britain and Singapore will help each others financial technology firms and investors gain access to their respective markets, the two sides said. A "fintech bridge" between the two countries will help British firms do business in the Asian market while at
Published 14 May, 2016 12:00am
Abu Dhabi's Aldar properties first quarter net profit gains

Abu Dhabi's Aldar properties first quarter net profit gains

Abu Dhabi's Aldar Properties reported a 14.1 percent rise in first-quarter net profit, maintaining its run of improving earnings. The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarte
Published 14 May, 2016 12:00am
Abu Dhabi's Aldar properties first quarter net profit gains

Abu Dhabi's Aldar properties first quarter net profit gains

Abu Dhabi's Aldar Properties reported a 14.1 percent rise in first-quarter net profit, maintaining its run of improving earnings. The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarte
Published 14 May, 2016 12:00am
Brazil's retail sales drop as job cuts take toll on spending

Brazil's retail sales drop as job cuts take toll on spending

Brazil's retail sales fell more than expected in March as a surge in unemployment hurt supermarkets and food vendors, frustrating hopes that consumer spending was stabilising after dropping sharply during the country's deep recession. Retail sales volumes
Published 14 May, 2016 12:00am
Indian stocks fall over one percent

Indian stocks fall over one percent

Indian shares fell more than 1 percent on Friday after stronger-than-expected consumer inflation data raised the prospect the central bank would keep interest rates on hold, sending lenders such as State Bank of India sharply lower. The broader NSE index
Published 14 May, 2016 12:00am
Tokyo shares end lower after disappointing earnings
Currency

Tokyo shares end lower after disappointing earnings

Tokyo stocks fell on Friday as some disappointing corporate earnings deflated investor spirits, but Nissan jumped on news it was buying a major stake in Mitsubishi Motors. The Japanese market got a weak lead from overseas as Wall Street and European bours
Published 14 May, 2016 12:00am
Friday's early trade: S&P, Dow flat

Friday's early trade: S&P, Dow flat

The S&P and Dow were struggling for direction on Friday as investors digested strong April retail sales data that seemed to contradict the gloomy earnings reports by department stores. The Nasdaq eked out a small gain, helped by a bounce in Apple's shares
Published 14 May, 2016 12:00am
Wall Street mixed as Apple tumbles to two-year low

Wall Street mixed as Apple tumbles to two-year low

US stocks ended mixed on Thursday, with gains in telecommunications and consumer staples helping make up for a tumble in Apple to a two-year low. The S&P 500 and Dow Jones swerved between gains and losses before ending virtually flat. Up 0.90 percent, Mic
Published 14 May, 2016 12:00am
Nigerian stocks higher

Nigerian stocks higher

Nigerian stocks rose to their highest level since January on Friday as investors bought shares in gasoline marketers following this week's deregulation of fuel imports, traders said. The main index climbed 2.2 percent to 26,439 points, with the banking, p
Published 14 May, 2016 12:00am
Hong Kong shares fall

Hong Kong shares fall

Hong Kong shares fell for a third straight week, with the main index hitting a two-month low on Friday, as worries mount over economic growth in the city and China. The Hang Seng index fell 1.0 percent, to 19,719.29, recording a weekly loss of 1.9 percent
Published 14 May, 2016 12:00am
Prices fall as Fed's Rosengren bullish on economy

Prices fall as Fed's Rosengren bullish on economy

US Treasury prices fell on Thursday after a Federal Reserve official said the US central bank should raise interest rates if data confirms a stronger jobs market and inflation outlook in the second quarter, noting that markets are too pessimistic on the e
Published 14 May, 2016 12:00am
Prices fall as Fed's Rosengren bullish on economy

Prices fall as Fed's Rosengren bullish on economy

US Treasury prices fell on Thursday after a Federal Reserve official said the US central bank should raise interest rates if data confirms a stronger jobs market and inflation outlook in the second quarter, noting that markets are too pessimistic on the e
Published 14 May, 2016 12:00am
TSX ends flat after hitting 10-day high

TSX ends flat after hitting 10-day high

Canada's main stock index ended flat on Thursday, with lower commodity prices weighing on miners, offsetting gains for most major banks and some energy companies trying to restart production after a raging wildfire. Enbridge Inc added 1.9 percent to C$51.
Published 14 May, 2016 12:00am
Sri Lankan shares hit over four-month closing high

Sri Lankan shares hit over four-month closing high

Sri Lankan shares rose on Friday to hit its highest close in more than four months, led by gains in telecommunication and hotel stocks. However, the gains were capped on concerns that the government's move to increase the value added tax and impose new ta
Published 14 May, 2016 12:00am
China stocks fall for fourth straight week amid economic worries

China stocks fall for fourth straight week amid economic worries

China stocks closed at their lowest level in two months on Friday, with the benchmark index registering its fourth week of declines, amid increasing concerns that a recent pick-up in economic activity may be fizzling out. The Shanghai Composite Index lost
Published 14 May, 2016 12:00am
European shares rebound after US data but Eutelsat plunges
Currency

European shares rebound after US data but Eutelsat plunges

European shares rebounded from losses earlier in the session on Friday, as strong US retail sales data buoyed markets, although satellite company Eutelsat plunged 30 percent after slashing its outlook. The pan-European FTSEurofirst 300 index had spent muc
Published 14 May, 2016 12:00am
Vietnam index drops

Vietnam index drops

Vietnam's benchmark VN Index ended down 0.21 percent on Friday for a straight second session of losses with most bluechips heading south led by food stocks. Dairy products maker Vinamilk, the country's top firm by market value, eased 0.69 percent, followe
Published 14 May, 2016 12:00am
FTSE gains, though Inmarsat and Coca-Cola HBC fall
Currency

FTSE gains, though Inmarsat and Coca-Cola HBC fall

Britain's top share index rose on Friday in choppy trade as robust US retail data gave a boost to European markets, though shares in Inmarsat and Coca-Cola HBC fell. Britain's FTSE 100 was up 0.6 percent at 6,138.50 at its close, gaining after US retail s
Published 14 May, 2016 12:00am
Dollar holds gains, US data awaited for fresh incentives
Currency

Dollar holds gains, US data awaited for fresh incentives

The dollar held to gains against the yen and euro on Friday, awaiting US data later in the day that could set the greenback's tone. The dollar was little changed at 108.86 yen after gaining about 0.6 percent overnight. The US currency, which had hit an 18
Published 14 May, 2016 12:00am
Dollar hits two-week high, posts best fortnight since February
Currency

Dollar hits two-week high, posts best fortnight since February

The dollar hit a two-week high against a basket of currencies on Friday, posting its best fortnightly performance since February, bolstered by the view that the US Federal Reserve is still on track to raise rates before any other major central bank. The g
Published 14 May, 2016 12:00am
Friday's early trade: Dollar touches two-week high

Friday's early trade: Dollar touches two-week high

The dollar climbed to a two-week high against a basket of currencies on Friday, as stronger-than-expected US economic data appeared to boost expectations the Federal Reserve may raise interest rates more than once this year. The move was the best two week
Published 14 May, 2016 12:00am
Yen weakens versus dollar on talk of more policy easing
Currency

Yen weakens versus dollar on talk of more policy easing

The yen fell to a two-week low against the dollar on Thursday, pressured by speculation that the Bank of Japan could expand its monetary stimulus as soon as next month. The Japanese currency has surged more than 9 percent against the dollar in 2016 despit
Published 14 May, 2016 12:00am
Yuan down
Currency

Yuan down

China's yuan slipped on Friday, dampened by dollar strength and a sharply weaker daily fixing which was seen to be largely in line with market expectations for a weaker Chinese currency. Spot yuan opened at 6.5157 per dollar and was changing hands at 6.52
Published 14 May, 2016 12:00am
Won leads Asia FX losses on Korea rate cut bets
Currency

Won leads Asia FX losses on Korea rate cut bets

South Korea's won led losses among emerging Asian currencies on Friday on expectations of an interest rate cut, while regional currencies slid as a top Federal Reserve official backed up US tightening. Most emerging Asian currencies were set to report wee
Published 14 May, 2016 12:00am
Nigerian interbank rate rises sharply
Currency

Nigerian interbank rate rises sharply

Nigeria's overnight interbank rate climbed sharply on Friday to an average of 8.5 percent, 4.5 percentage points higher than last week's close on payment for bond purchases and on AMCON contributions. Nigeria's commercial lenders in 2010 agreed to make av
Published 14 May, 2016 12:00am
Sterling falls to three-week low on Brexit worries
Currency

Sterling falls to three-week low on Brexit worries

Sterling fell to a three-week low against the dollar on Friday, nursing losses for a second straight week after the International Monetary Fund joined the Bank of England to warn of risks if Britain leaves the European Union. Losses accelerated in the aft
Published 14 May, 2016 12:00am
Australian dollar set for fourth straight week of losses
Currency

Australian dollar set for fourth straight week of losses

The Australian dollar skidded to an 11-week trough on Friday after another slide in commodities dented risk sentiment, while the New Zealand currency also came under pressure, putting both units on track for weekly losses. The Australian dollar dropped to
Published 14 May, 2016 12:00am
Chelsea skipper Terry ponders new one-year deal

Chelsea skipper Terry ponders new one-year deal

Chelsea captain John Terry has been offered a new one-year deal, the English Premier League club said Friday. The 35-year-old centre-half, who has spent his entire senior club career with the west London side, is out of contract at the end of the season.
Published 14 May, 2016 12:00am
Cricket match between KP, Punjab PAs on May 17

Cricket match between KP, Punjab PAs on May 17

The cricket team of Khyber Pakhtunkhwa Assembly will face Punjab Assembly team in the first match of the two matches here and away basis to be played at Qaddafi Stadium Lahore on May 17, 2016. This was stated by Member Provincial Assembly Shoukat Yousafza
Published 14 May, 2016 12:00am
Formula One: Rosberg on top in second practice

Formula One: Rosberg on top in second practice

Nico Rosberg's golden run continued unbroken on Friday when he topped the times ahead of Ferrari's Kimi Raikkonen and his Mercedes team-mate Lewis Hamilton in second free practice session for this weekend's Spanish Grand Prix. The 30-year-old German leade
Published 14 May, 2016 12:00am
Dravid, Jayawardene join ICC committee

Dravid, Jayawardene join ICC committee

Batting greats Rahul Dravid and Mahela Jayawardene joined the ICC's cricket committee Friday in the first major appointments at the game's governing body since India's Shashank Manohar was elected chairman. Former Indian skipper Dravid and retired Sri Lan
Published 14 May, 2016 12:00am
Ibrahimovic announces departure from PSG

Ibrahimovic announces departure from PSG

Zlatan Ibrahimovic confirmed on Friday that he will leave Paris Saint-Germain at the end of this season, but the French champions said the Swedish star will eventually return in a "management" role. "My last game tomorrow at Parc des Princes. I came like
Published 14 May, 2016 12:00am
Samoura chosen as first female FIFA secretary general

Samoura chosen as first female FIFA secretary general

FIFA on Friday named Senegalese UN diplomat Fatma Samoura as the first female secretary general in the history of the male-dominated world football organisation. Samoura, 54, comes from outside the football world, having worked with the United Nations for
Published 14 May, 2016 12:00am
United on track for £500 million plus revenue in single year

United on track for £500 million plus revenue in single year

Manchester United are in line to become the first British club to "exceed" half a billion pounds in revenue in a single year, even if participation in the lucrative Champions League next season still hangs in the balance, the club said Friday. United head
Published 14 May, 2016 12:00am
Wapda wins 61st National Weightlifting Championship

Wapda wins 61st National Weightlifting Championship

The Pakistan Water and Power Development Authority won the 61st National Senior Men's Weightlifting Championship with 105 points. The Higher Education Commission secured the second position with 71 points while the Punjab remained third with 41 points. Th
Published 14 May, 2016 12:00am
PCB to set up training camp for two weeks in Britain

PCB to set up training camp for two weeks in Britain

The Pakistan Cricket Board has decided in principle to set up a training camp for two weeks in Britain beginning on June 16. Board sources said on Friday the decision to set up such a camp was to get complete familiar with conditions there. The Pakistan c
Published 14 May, 2016 12:00am
Murray beats Goffin to reach Italian Open semi-finals

Murray beats Goffin to reach Italian Open semi-finals

Britain's Andy Murray remained on course for a maiden Rome Masters final after overcoming Belgium's David Goffin 6-1, 7-5 on Friday to book only his second career semi-final in the Italian capital. "I'm being rewarded now for the work I've put in on the s
Published 14 May, 2016 12:00am
Kremlin slams Sochi doping claims as 'slander'

Kremlin slams Sochi doping claims as 'slander'

The Kremlin on Friday rubbished claims of a vast state-run doping programme during the 2014 Winter Olympics in Sochi vaunted as a triumph for Vladimir Putin's Russia. Kremlin spokesman Dmitry Peskov dismissed the allegations that dozens of Russian athlete
Published 14 May, 2016 12:00am
Japan insists Olympic payments 'legitimate'

Japan insists Olympic payments 'legitimate'

Japan's Olympic chief insisted $2 million in payments were "legitimate" on Friday after French prosecutors launched a probe, suspecting they were aimed at winning support for Tokyo's successful bid to host the 2020 Games. Japanese Olympic Committee presid
Published 14 May, 2016 12:00am
Maharashtra bans 'social boycotts' that often shun women, lower castes

Maharashtra bans 'social boycotts' that often shun women, lower castes

India's Maharashtra state has become the first in the country to ban village councils from imposing "social boycotts" that ostracise individuals or families for defying tradition. Women and lower caste Dalits often bear the brunt of such judgements, passe
Published 14 May, 2016 12:00am
US presidential TV ad campaign spending soars since 2012

US presidential TV ad campaign spending soars since 2012

This year's US presidential election campaigns are breaking new ground not only for the tone of their messages but for how hard they're trying to get Americans to listen to them. The volume of television advertising since January 2015 is up 122 percent fr
Published 14 May, 2016 12:00am
Christian Kern to be new Austrian chancellor: party boss

Christian Kern to be new Austrian chancellor: party boss

Austria's Social Democrats have decided to appoint national railways boss Christian Kern as the country's chancellor following Werner Faymann's resignation, the interim head of the party said Friday. "The decision has been taken," the Austria Press Agency
Published 14 May, 2016 12:00am
Eight Turkey troops killed in anti-PKK operations

Eight Turkey troops killed in anti-PKK operations

Six Turkish soldiers were killed on Friday in a clash with Kurdish militants in the south-east of the country while two more lost their lives when a military helicopter sent to the scene crashed, the army said. The six troops were killed and eight others
Published 14 May, 2016 12:00am
Attackers kill guard at Bangladesh Rohingya refugee camp

Attackers kill guard at Bangladesh Rohingya refugee camp

A group of armed attackers stormed a security post at a camp for Rohingya refugees in southern Bangladesh near the Myanmar border Friday, killing the post commander and looting weapons, police said. The attackers shot dead the commander and tied up other
Published 14 May, 2016 12:00am
'Dramatic' drop in migrant arrivals to Greece in April

'Dramatic' drop in migrant arrivals to Greece in April

The number of migrants arriving in Greece plunged nearly 90 percent in April following a controversial EU-Turkey deal to stem their influx to Europe, the International Organisation for Migration said. Last month 3,360 migrants and refugees landed on the G
Published 14 May, 2016 12:00am
Kyrgyzstan arrests three politicians over 'coup plot'

Kyrgyzstan arrests three politicians over 'coup plot'

Security services in Kyrgyzstan said Friday that they had arrested three politicians including a former minister on charges of plotting a coup, ahead of an anti-government rally later this month. Three members of a group called the People's Parliament mov
Published 14 May, 2016 12:00am
Former Chinese presidential top aide charged with bribery

Former Chinese presidential top aide charged with bribery

An ex-aide of former Chinese president Hu Jintao has been charged with accepting bribes and illegally obtaining state secrets, prosecutors said on Friday, suggesting he will face jail after a trial. The ruling Communist Party last year accused Ling Jihua
Published 14 May, 2016 12:00am
Brazil interim government gets to work in crisis

Brazil interim government gets to work in crisis

Brazil's interim president Michel Temer was expected Friday to launch urgent economic rescue measures as he kicked off his new administration a day after his predecessor was suspended to face an impeachment trial. The former vice president's new business-
Published 14 May, 2016 12:00am
Britain mulls EU sanctions on DR Congo 'repression': envoy

Britain mulls EU sanctions on DR Congo 'repression': envoy

Britain may seek EU sanctions against those to blame for "acts of repression" in the Democratic Republic of Congo, a British envoy said on Friday. She was speaking after DR Congo's Constitutional Court ruled that President Joseph Kabila, in power since 20
Published 14 May, 2016 12:00am
EU defends US free trade deal amid growing opposition

EU defends US free trade deal amid growing opposition

EU trade chief Cecilia Malmstroem said Friday a historic free trade deal between Europe and the United States could still be reached this year despite growing opposition. "We are working as hard as we can to do this," Malmstroem, the EU's trade commission
Published 14 May, 2016 12:00am
Model Town tragedy: PML-N accused of killing workers

Model Town tragedy: PML-N accused of killing workers

A former Pakistan Awami Tehreek parliamentarian has pointed to the governing party's direct involvement in killings of party activists in the in March 2014. Former member of the Punjab Assembly Fayaz Warraich told an anti terrorism court on Friday that th
Published 14 May, 2016 12:00am
UK High Commissioner meets Shahbaz

UK High Commissioner meets Shahbaz

A high-level delegation led by the British High Commissioner, Thomas Drew met Punjab Chief Minister, Shahbaz Sharif here on Friday. The delegation appreciated the steps taken in Punjab for eliminating terrorism and extremism and said the Punjab government
Published 14 May, 2016 12:00am
Pakistan Banking Awards 2016: UBL declared the best bank of Pakistan

Pakistan Banking Awards 2016: UBL declared the best bank of Pakistan

United Bank Limited (UBL) has been declared as the country's best bank in terms of its most significant contributions to national development and effective management of resources. A five-member jury of experts at Pakistan Banking Awards 2016 also declare
Published 14 May, 2016 12:00am
Woman gives birth to quintuplets

Woman gives birth to quintuplets

A woman has given birth to quintuplets - three girls and twoo boys - at a local hospital. The 32-year-old woman hailing from Gwader, Balochistan was admitted to Darul Sehat hospital in Gulistan-e-Jauhar Karachi by MPA Mir Hammal Kalmati. Mother and childr
Published 14 May, 2016 12:00am
Expanded Gwadar port set to boost links to China: Zhang

Expanded Gwadar port set to boost links to China: Zhang

The expanded and better-equipped port of Gwadar in Pakistan, which forms an important part of the China-Pakistan Economic Corridor, will be operating fully by the end of this year. This assurance was given by the head of the Chinese company that runs the
Published 14 May, 2016 12:00am
Release of US military aid: key members of Congress increase conditions

Release of US military aid: key members of Congress increase conditions

The United States says that key members of Congress have increased conditions for release of US military aid to Pakistan and are not prepared to support the aid without some specific actions by Islamabad. Replying to questions, State Department's Director
Published 14 May, 2016 12:00am
SHC summer vacations

SHC summer vacations

The Sindh High Court, Sukkur bench and Circuit Courts at Hyderabad and Larkana will remain closed for civil business due to summer vacations from 6 June to 6 August. The courts will re-open on 8 August after the summer vacation, 7 August being a holiday,
Published 14 May, 2016 12:00am
Langove fails to appear before NAB

Langove fails to appear before NAB

The National Accountability Bureau (NAB) issued second summon, directing ex-finance advisor to chief minister, Mir Khalid Langove to appear before NAB on Friday. But, he did not appear on the same day. A spokesman for the NAB Balochistan said here that ea
Published 14 May, 2016 12:00am
Akbar Durrani made Balochistan Secretary Finance

Akbar Durrani made Balochistan Secretary Finance

The Government of Balochistan notified, here on Friday that Secretary Home and Tribal Affairs, Captain Akbar Hussain Durrani (Retd) has been transferred and posted as Secretary Finance with immediate effect while Commissioner Kalat division, Muhammad Akba
Published 14 May, 2016 12:00am
PML-N retains PK-8 seat after close contest

PML-N retains PK-8 seat after close contest

PML-N has retained its seat PK-8, Peshawar in closely contested against Malik Tamash Khan of PPP, according to unofficial and unconfirmed results. According to unofficial results Hayat bagged 11,781 votes while Tamash secured 10,789 votes. PTI candidate S
Published 14 May, 2016 12:00am
Khalid Siddiq made DG PSQCA

Khalid Siddiq made DG PSQCA

Muhammad Khalid Siddiq has been transferred and posted as Director General Pakistan Standards and Quality Control Authority (PSQCA), Karachi. According to PSQCA spokesman, Khalid Siddiq - a BPS-20 officer - was working as Joint Technological Advisor at th
Published 14 May, 2016 12:00am
Rainy & gusty weather: farmers asked to stop wheat harvesting, threshing

Rainy & gusty weather: farmers asked to stop wheat harvesting, threshing

The Met Office has asked the farmers to stop wheat harvesting and threshing ahead of rainy and gusty weather in parts of the upcountry. It said that sowing of Kharif crops should be completed, asking the growers to utilize fully the soil moisture followin
Published 14 May, 2016 12:00am
MoC decides to revive PHDEC on condition of performance

MoC decides to revive PHDEC on condition of performance

Ministry of Commerce has decided to revive Pakistan Horticulture Development Export Company (PHDEC) to resolve issues relating to horticulture sector and its exports. The Ministry finally agreed to give one more year to the company to show its performance
Published 14 May, 2016 12:00am
Terror plot foiled in Quetta

Terror plot foiled in Quetta

Security forces foiled a bid of terror on Friday by defusing four kilograms bomb planted on joint road Quetta. According to details, bomb Disposal Squad (BDS) defused a bomb recovered near the past port office in the provincial capital. BDS team reached a
Published 14 May, 2016 12:00am
Five terrorists apprehended in Karachi

Five terrorists apprehended in Karachi

Three terrorists of a banned outfit were apprehended late Thursday night during joint action conducted by the Counter Terrorism Department (CTD) and officials of the intelligence department in Mehmoodabad area of Karachi. According to the Senior Superinte
Published 14 May, 2016 12:00am
Former secretary LG department flees SHC after bail cancellation

Former secretary LG department flees SHC after bail cancellation

Former secretary local government Ali Ahmed Lund escaped from Sindh High Court (SHC) on Friday after his bail was cancelled in a corruption case. The hearing of Ali Ahmed Lund's corruption case was held in the SHC in which his bail was rejected by the jud
Published 14 May, 2016 12:00am
IAOP asks Sindh government to exempt indenters from ST on services

IAOP asks Sindh government to exempt indenters from ST on services

Chairman, Indenters Association of Pakistan (IAOP), Khurram Sayed has urged Chief Minister Sindh Syed Qaim Ali Shah that Indenters should be exempted from enrolment in Sindh Board of Revenue (SRB). In its budget proposal to the provincial government for t
Published 14 May, 2016 12:00am
Suspension of gas supply: industrialists criticise SSGC's decision

Suspension of gas supply: industrialists criticise SSGC's decision

Industrialists have expressed concern over Sui Southern Gas Company's (SSGC) decision to suspend gas supply to industrial areas of the city for one day. The SSGC, in a circular, has informed that all industrial units, including captive plants, will remain
Published 14 May, 2016 12:00am
1Q2016: banking sector profit stands flat at Rs 47.8 billion

1Q2016: banking sector profit stands flat at Rs 47.8 billion

Profit of the country's banking sector remained flat at Rs 47.8 billion during the first quarter of current fiscal year (1Q2016). Profitability of the sector has been contained due to what analyst Umair Naseer at Topline Research said lower capital gains,
Published 14 May, 2016 12:00am
Court sends Ashraf Magsi to judicial remand

Court sends Ashraf Magsi to judicial remand

An Accountability Court in Quetta has sent former chairman Balochistan Public Service Commission Ashraf Magsi to jail on judicial remand. Ashraf Magsi will be presented in the court again on May 16. Magsi was on four-day remand in National Accountability
Published 14 May, 2016 12:00am
Pakistan keen to strengthen ties with Argentina: Fatemi

Pakistan keen to strengthen ties with Argentina: Fatemi

Special Assistant to the Prime Minister (SAPM) on Foreign Affairs said Pakistan was keen to strengthen relations with Argentina in areas including trade, science and technology, energy, education and culture. He said this in a meeting with the newly appoi
Published 14 May, 2016 12:00am
Stock exchanges SECP approves new regulations on licensing, operations

Stock exchanges SECP approves new regulations on licensing, operations

In line with its efforts to strengthen the capital market and as part of subsidiary legislation under the Securities Act, 2015, the Securities and Exchange Commission of Pakistan (SECP) has drafted the Securities Exchange (Licensing and Operations) Regula
Published 14 May, 2016 12:00am
PIFD becomes full member of Cumulus

PIFD becomes full member of Cumulus

The Pakistan Institute of Fashion and Design has become a full member of Cumulus, the International Association of Universities and Colleges of Art and Design. The membership was given in a conference in the British city of Nottingham which ran from April
Published 14 May, 2016 12:00am
Hillary congratulates Gilani on recovery of son

Hillary congratulates Gilani on recovery of son

Former US Secretary of State and a strong contender for Democrat nomination for next US President Elections, Hillary Clinton Friday telephoned former Prime Minister Syed Yusuf Raza Gilani and congratulated him on the recovery of his son. Hillary Clinton s
Published 14 May, 2016 12:00am
9,020 returns filed, Rs 850 million deposited under VTCS: NA informed

9,020 returns filed, Rs 850 million deposited under VTCS: NA informed

As many as 9,020 returns have been filed under the Voluntary Tax Compliance Scheme (VTCS) and tax of Rs 850 million deposited, resulting in documentation of working capital of Rs 85 billion. Parliamentary Secretary for Finance, Revenue and Economic Affair
Published 14 May, 2016 12:00am
PPP wants indiscriminate accountability: Bilawal

PPP wants indiscriminate accountability: Bilawal

Chairman Pakistan Peoples Party Bilawal Bhutto Zardari has said the PPP wants an indiscriminate accountability, starting from the Prime Minister Nawaz Sharif. He was reviewing the party reorganisation in Southern Punjab on Friday. He further said the PPP
Published 14 May, 2016 12:00am
NA condemns all forms of violence against women

NA condemns all forms of violence against women

The National Assembly Friday passed a resolution unanimously condemning all forms of violence against women in the country and called for urgent steps to curb these crimes. MNA Shaista Pervaiz presented a resolution in the Lower House of the parliament. T
Published 14 May, 2016 12:00am
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