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Print - 2016-05-20
Slow activity seen on cotton market
Cotton

Slow activity seen on cotton market

Despite sharply declining unsold cotton stocks available on the ready cotton market, the tone of lint prices remained easy on Thursday. Till the evening, sales of 400 bales of cotton from Sakrand in Sindh were reported at Rs 5500 per maund (37.32 Kgs), wh
Published 20 May, 2016 12:00am
UK bank commission head reignites spat with central bank on capital

UK bank commission head reignites spat with central bank on capital

One of Britain's most influential architects of banking reform resumed a spat with the Bank of England on Wednesday, arguing that policymakers have gone too easy on the size of mandatory buffers aimed at protecting balance sheets in times of stress. The I
Published 20 May, 2016 12:00am
Chinese investor buys Aston Villa for reported $86 million

Chinese investor buys Aston Villa for reported $86 million

Aston Villa have been sold to a Chinese group owned by Dr Tony Jiantong Xia, the Championship club announced on Wednesday, in a deal worth a reported $86 million. Villa crashed out of the Premier League after a miserable season that saw the Midlands team
Published 20 May, 2016 12:00am
Chinese investor buys Aston Villa for reported $86 million

Chinese investor buys Aston Villa for reported $86 million

Aston Villa have been sold to a Chinese group owned by Dr Tony Jiantong Xia, the Championship club announced on Wednesday, in a deal worth a reported $86 million. Villa crashed out of the Premier League after a miserable season that saw the Midlands team
Published 20 May, 2016 12:00am
Cyprus budget airline to start Greece, UK flights in June

Cyprus budget airline to start Greece, UK flights in June

A Cyprus-based budget airline, Cobalt, announced Wednesday it will launch passenger flights to Greece and Britain from June. Cobalt said it was granted an Air Operator Certificate after a successful test flight with its first Cyprus-registered Airbus A320
Published 20 May, 2016 12:00am
Security fears hit Thomas Cook as tourists choose Spain over Turkey

Security fears hit Thomas Cook as tourists choose Spain over Turkey

Thomas Cook said its summer bookings fell as security concerns meant more holidaymakers opted for breaks in Spain over Turkey, Tunisia and Egypt, outstripping its efforts to adjust flights. Despite shifting 1.2 million airline seats from the eastern to th
Published 20 May, 2016 12:00am
Wal-Mart reports stronger US sales

Wal-Mart reports stronger US sales

US retail giant Wal-Mart reported slightly higher quarterly sales Thursday and said better-than-expected earnings reflected the benefits of heavy investment to boost worker salaries and improve the shopping experience. But executives described US consumer
Published 20 May, 2016 12:00am
US sets insider trading case linked to golfer Mickelson

US sets insider trading case linked to golfer Mickelson

US prosecutors laid charges Thursday against a prominent Las Vegas gambler and the ex-chairman of Dean Foods in an insider trading case that enmeshed top professional golfer Phil Mickelson. The Justice Department and the Securities and Exchange Commission
Published 20 May, 2016 12:00am
US economic data point to second-quarter GDP rebound

US economic data point to second-quarter GDP rebound

The number of Americans filing for unemployment aid fell from a 14-month high last week, the latest sign the economy was picking up speed in the second quarter and likely would be healthy enough for the Federal Reserve to raise interest rates in June. The
Published 20 May, 2016 12:00am
UK court rejects Big Tobacco's appeal against plain packaging

UK court rejects Big Tobacco's appeal against plain packaging

Britain got the go-ahead on Thursday to make plain packaging compulsory on cigarettes when a court struck down a legal challenge brought by the world's top four tobacco companies. British American Tobacco (BAT), Philip Morris International, Japan Tobacco
Published 20 May, 2016 12:00am
India tightens rules on offshore derivatives

India tightens rules on offshore derivatives

India's capital market regulator on Thursday took steps to stop suspected illegal money flowing into the country by making issuers of securities known as offshore derivative instruments register their customers. The Securities and Exchange Board of India
Published 20 May, 2016 12:00am
Bayer offers to buy Monsanto in global agrochemicals shakeout
Cotton

Bayer offers to buy Monsanto in global agrochemicals shakeout

German drugs and chemicals group Bayer has made an unsolicited take-over proposal to US seeds company Monsanto, aiming to create the world's biggest agricultural supplier and take advantage of converging pesticides and seeds markets. Monsanto disclosed th
Published 20 May, 2016 12:00am
Bangladesh demands return of stolen bank funds from Philippines

Bangladesh demands return of stolen bank funds from Philippines

The Philippines must immediately return millions of dollars recovered from a high-profile hacking theft, Bangladesh's ambassador said Thursday in Manila, but Filipino officials warned resolving the embarrassing case could take months. On February 5, unide
Published 20 May, 2016 12:00am
IMF backs Saudi economic plan for 'appropriately bold' transformation

IMF backs Saudi economic plan for 'appropriately bold' transformation

The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. Late last month, Deputy Crown P
Published 20 May, 2016 12:00am
Malaysia holds rates steady

Malaysia holds rates steady

Malaysia's central bank kept key rates steady at a policy review on Thursday, the first chaired by its new governor, saying it expects domestic consumption and growth to pick up this year. Bank Negara Malaysia (BNM) left its overnight policy rate (OPR) at
Published 20 May, 2016 12:00am
IMF sees modest rebound for crisis-hit Russia next year

IMF sees modest rebound for crisis-hit Russia next year

The International Monetary Fund (IMF) predicted Thursday that the Russian economy would contract by about 1.5 percent this year before experiencing moderate growth in 2017. In a report published Thursday, the IMF said it sees Russia's economy "growing aga
Published 20 May, 2016 12:00am
Gulf markets retreat on weak oil, US rate worries

Gulf markets retreat on weak oil, US rate worries

Middle East stock markets lost ground on Thursday after oil prices retreated and global equity prices fell on speculation the United States might raise interest rates as early as June. The Saudi stock index dropped 0.6 percent in a broad-based decline as
Published 20 May, 2016 12:00am
Australian shares extend losses, New Zealand falls

Australian shares extend losses, New Zealand falls

Australian shares fell on Thursday, extending two-day losses to nearly 1.5 percent, as a stronger US dollar weighed on energy and mining stocks. The S&P/ASX 200 index fell 0.6 percent, or 32.86 points, to 5,323.3 at the close of trade. The benchmark fell
Published 20 May, 2016 12:00am
Tokyo shares little changed

Tokyo shares little changed

Tokyo shares closed little changed Thursday as investors weighed news that a US interest rate hike was increasingly likely, while energy stocks tanked after oil prices tumbled from six-month highs. The lacklustre session came after minutes on Wednesday fr
Published 20 May, 2016 12:00am
Thursday's midday trade: S&P, Dow touch two-month lows

Thursday's midday trade: S&P, Dow touch two-month lows

The S&P 500 and Dow touched two-month lows on Thursday, a day after hawkish comments from the Federal Reserve suggested interest rates could be hiked as early as June. Minutes of the Fed's April meeting, released on Wednesday, caught the market by surpris
Published 20 May, 2016 12:00am
Bank shares buoy Wall Street as Fed signals possible June hike

Bank shares buoy Wall Street as Fed signals possible June hike

Wall Street closed flat on Wednesday after a volatile session, supported by bank shares, as the minutes from the Federal Reserve's April meeting signalled a potential interest rate increase in the near term. Officials from the US central bank said it woul
Published 20 May, 2016 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks fell on Thursday, ahead of the inauguration of the island's new president, on uncertainty over how she would deal with China, Taiwan's largest trading partner, and also tracking weak regional bourses. Tsai Ing-wen, whose independence-leaning
Published 20 May, 2016 12:00am
Hong Kong shares slip

Hong Kong shares slip

Hong Kong stocks closed at the lowest level in 2-1/2 months on Thursday, joining most Asian markets in sliding on the growing possibility of another US rate hike soon. The Hang Seng index fell 0.7 percent, to 19,694.33, the lowest close since March 1. The
Published 20 May, 2016 12:00am
Short-dated yields highest since late March

Short-dated yields highest since late March

Short-dated US Treasury yields rose to their highest in nearly two months on Wednesday after the minutes of the Federal Reserve's April meeting showed most policymakers said an interest rate rise may be appropriate at its meeting in June. Yields had risen
Published 20 May, 2016 12:00am
Short-dated yields highest since late March

Short-dated yields highest since late March

Short-dated US Treasury yields rose to their highest in nearly two months on Wednesday after the minutes of the Federal Reserve's April meeting showed most policymakers said an interest rate rise may be appropriate at its meeting in June. Yields had risen
Published 20 May, 2016 12:00am
Indian shares fall

Indian shares fall

Indian shares fell more than 1 percent to post their biggest loss in three weeks on Thursday, tracking weak global markets as caution prevailed about the possibility of an interest rate hike by the US Federal Reserve as early as June. The broader NSE inde
Published 20 May, 2016 12:00am
China stocks down

China stocks down

China stocks were little changed on Thursday, and trading volume shrank to near 3-1/2-month lows as many investors sat on their hands amid economic worries and revived concerns US interest rates will go up soon. The bluechip CSI300 index fell 0.2 percent,
Published 20 May, 2016 12:00am
European shares slip on US rate hike prospects; banks outperform

European shares slip on US rate hike prospects; banks outperform

European shares fell on Thursday as weaker oil and metals prices put pressure on commodities stocks and concern mounted that US interest rates would be raised soon. However, bank stocks outperformed, helped by the prospect of rising US rates. Minutes from
Published 20 May, 2016 12:00am
Sri Lankan shares fall to over one-week low

Sri Lankan shares fall to over one-week low

Sri Lankan shares fell on Thursday to an over one-week low, led by heavyweights amid foreign selling along with sluggish business activity after floods and landslides dented general business sentiment. Hopes faded on Thursday for the survival of about 150
Published 20 May, 2016 12:00am
Southeast Asian stocks fall

Southeast Asian stocks fall

Southeast Asian stocks fell on Thursday, in line with Asian markets, as the likelihood of a US rate increase in June lifted the dollar to a near two-month high and left bonds, stocks, commodities and emerging markets all nursing losses. Minutes from the F
Published 20 May, 2016 12:00am
FTSE falls as travel stocks suffer

FTSE falls as travel stocks suffer

UK shares fell on Thursday after the disappearance of an EgyptAir flight and a drop in summer bookings for Thomas Cook weighed on the travel sector, while mining shares also dipped. The bluechip FTSE 100 index dropped 112.45 points, or 1.8 percent, to 6,0
Published 20 May, 2016 12:00am
Dollar stands tall in Asia
Currency

Dollar stands tall in Asia

The dollar stood tall and set a three-week high against the yen on Thursday, after the minutes of the US Federal Reserve's latest policy meeting rekindled expectations for a June interest rate hike. The dollar rose to 110.27 yen at one point, its stronges
Published 20 May, 2016 12:00am
Dollar pauses in Europe after surge to seven-week high
Currency

Dollar pauses in Europe after surge to seven-week high

The dollar steadied at its highest levels since March on Thursday after a perceived increase in chances of a rise in US interest rates by September drove its biggest daily gain against the euro in five weeks. Stronger data, rhetoric from the Federal Reser
Published 20 May, 2016 12:00am
Early trade in New York: Dollar up slightly against euro, franc
Currency

Early trade in New York: Dollar up slightly against euro, franc

The US dollar rose slightly against the euro and Swiss franc on Thursday after the president of the New York Federal Reserve said the central bank was on track for a rate hike in June or July, but the greenback slipped against the safe-haven yen on risk a
Published 20 May, 2016 12:00am
Dollar jumps in NY after Fed minutes signal possible June hike
Currency

Dollar jumps in NY after Fed minutes signal possible June hike

The US dollar hit its highest level against the euro in more than three weeks on Wednesday and crossed 110 yen for the first time in nearly three weeks after Federal Reserve meeting minutes signalled a June interest rate hike was on the table. The Fed wil
Published 20 May, 2016 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 78.40-78.40 (previous 78.40-78.40).
Published 20 May, 2016 12:00am
Sri Lankan rupee forwards up
Currency

Sri Lankan rupee forwards up

Sri Lankan rupee forwards closed firmer on Thursday as bond buying by foreign investors helped dollar inflows which eased pressure on the currency, dealers said. The dollar/rupee forwards, known as spot next, ended at 146.75/80 per dollar, gaining from We
Published 20 May, 2016 12:00am
Revived US rate hike view hits Asia FX
Currency

Revived US rate hike view hits Asia FX

Emerging Asian currencies lost ground on Thursday, with China's yuan falling to levels not seen since early March, after minutes of the Federal Reserve's latest policy meeting put the possibility of a June interest rate hike firmly on the table. The dolla
Published 20 May, 2016 12:00am
China's yuan weakens

China's yuan weakens

The yuan eased against the dollar on Thursday to its weakest levels since early March, after the central bank fixed the softest midpoint in 3-1/2 months as the US Federal Reserve signalled an interest rate hike was on the table for June. As such, the Peop
Published 20 May, 2016 12:00am
Sterling hits 3 1/2-month high
Currency

Sterling hits 3 1/2-month high

Sterling soared to a 3 1/2-month high against a trade-weighted basket of currencies on Thursday, bolstered by a robust retail sales report for April and which diminished chances of an interest rate cut that some investors are factoring in. Retail sales in
Published 20 May, 2016 12:00am
Aussie, kiwi fall

Aussie, kiwi fall

The Australian dollar fell to a two-and-a-half month low on Thursday after mixed jobs data sparked some speculative selling though the numbers were unlikely to build the case for an imminent rate cut by the Reserve Bank of Australia (RBA). The Aussie drop
Published 20 May, 2016 12:00am
Serena targets Steffi in French Open

Serena targets Steffi in French Open

Serena Williams will have a third go at winning a 22nd Grand Slam singles title at the French Open, which would draw her level with Steffi Graf as the most successful female player in the Open era. But to do so, the 34-year-old American will have to achie
Published 20 May, 2016 12:00am
Djokovic confronts greatest challenge as clock ticks

Djokovic confronts greatest challenge as clock ticks

Twelve months after his latest bid to complete a career Grand Slam was thwarted, Novak Djokovic targets an elusive French Open title with time and history threatening to conspire against him. The world number one was left in tears in 2015 when Stan Wawrin
Published 20 May, 2016 12:00am
Sharapova may not play again: Russia's Tarpishchev

Sharapova may not play again: Russia's Tarpishchev

Maria Sharapova may not play again after testing positive for the banned substance meldonium, the president of the Russian tennis federation was quoted as saying on Thursday. Shamil Tarpishchev told the R-Sport news agency that Sharapova's situation was "
Published 20 May, 2016 12:00am
Hales and Bairstow keep Sri Lanka at bay

Hales and Bairstow keep Sri Lanka at bay

Alex Hales and Jonathan Bairstow frustrated Sri Lanka after debutant all-rounder Dasun Shanaka sparked a top-order collapse on the first day of the first Test against England at Headingley on Thursday. England, who were 70 for four soon after lunch, had m
Published 20 May, 2016 12:00am
Injured Federer withdraws from French Open

Injured Federer withdraws from French Open

Roger Federer withdrew from the French Open on Thursday after failing to recover from a back injury, bringing to an end the 17-time major winner's run of 65 consecutive Grand Slams. "I regret to announce that I have made the decision not to play in this y
Published 20 May, 2016 12:00am
Gayle, Sammy, Bravo miss tri-nation series

Gayle, Sammy, Bravo miss tri-nation series

Chris Gayle, Darren Sammy and Dwayne Bravo were all left out of the West Indies squad for the first four tri-nation one-day international series while T20 match-winner Carlos Brathwaite has been included. Offspinner Sunil Narine and allrounder Kieron Poll
Published 20 May, 2016 12:00am
Mickey Arthur to supervise Kakul fitness camp by the month end

Mickey Arthur to supervise Kakul fitness camp by the month end

As fitness camp gears up at the Kakul's Army School of Physical Training, Pakistan's newly-named head coach, Mickey Arthur, is expected to join the national team by the end of this month. The camp, arranged by the Pakistan Cricket Board, saw 30 players go
Published 20 May, 2016 12:00am
Kohli crowned as IPL's highest ever scorer

Kohli crowned as IPL's highest ever scorer

Virat Kohli smashed an unprecedented fourth century of the Indian Premier League (IPL) season - despite nursing a finger injury - to become the tournament's highest ever run-scorer. Kohli, who batted with nine stitches after splitting the webbing in his l
Published 20 May, 2016 12:00am
Strauss backs day/night Tests

Strauss backs day/night Tests

Andrew Strauss said Thursday he was in favour of day/night Tests as one o his fellow England and Wales Cricket Board officials said it was just a matter of time before such a match was played in the sport's birthplace. Attendances for Test cricket in Engl
Published 20 May, 2016 12:00am
Coke's fizz leaves Liverpool feeling flat

Coke's fizz leaves Liverpool feeling flat

Sevilla midfielder Coke popped up with two second-half goals to break Liverpool hearts in a controversy-filled 3-1 victory that secured a record third consecutive Europa League title on Wednesday. Liverpool travelled to St Jakob-Park confident in their ch
Published 20 May, 2016 12:00am
Afridi sets sights on Pakistan comeback

Afridi sets sights on Pakistan comeback

Former Pakistan captain Shahid Afridi said Thursday he hopes to force his way back into national contention and put the disastrous World Twenty20 behind him with a strong return to English club Hampshire this season. The 36-year-old was not included in an
Published 20 May, 2016 12:00am
China demands end to US surveillance after aircraft intercept

China demands end to US surveillance after aircraft intercept

Beijing demanded an end to US surveillance near China on Thursday after two of its fighter jets carried out what the Pentagon said was an "unsafe" intercept of a US military reconnaissance aircraft over the South China Sea. The incident, likely to increas
Published 20 May, 2016 12:00am
Nato finalises military build-up to counter Russia

Nato finalises military build-up to counter Russia

Nato foreign ministers on Thursday were finalising the alliance's biggest military build-up since the end of the Cold War to counter what they see as a more aggressive and unpredictable Russia. Nato chief Jens Stoltenberg said the two-day meeting would ad
Published 20 May, 2016 12:00am
Why Trump's insults of journalists must be taken seriously

Why Trump's insults of journalists must be taken seriously

Republican presidential candidate Donald Trump has called the mainstream media "crooked" "unfair" "troublemakers" and The New York Times a failing, "SAD!" newspaper "full of boring lies." Individual reporters are "liars" and "bimbos," according to his twe
Published 20 May, 2016 12:00am
California eases water restrictions

California eases water restrictions

California has loosened emergency restrictions on water conservation after El Nino-driven storms boosted reservoir levels this winter in parts of the state, authorities announced. The State Water Resources Control Board voted unanimously on Wednesday to r
Published 20 May, 2016 12:00am
Iraq reaches deal with IMF for $5.4 billion loan

Iraq reaches deal with IMF for $5.4 billion loan

Crisis-hit Iraq reached a deal with the International Monetary Fund Thursday for a $5.4 billion loan that could give donors enough confidence to unlock further financing, a statement said. The three-year stand-by arrangement was reached by the Iraqi gover
Published 20 May, 2016 12:00am
Long-time CBS journalist Morley Safer dies

Long-time CBS journalist Morley Safer dies

Morley Safer, a celebrated television journalist known for his long-time role on the CBS program "60 Minutes," died Thursday at 84, the network announced. "Morley was one of the most important journalists in any medium, ever," said CBS chairman and chief
Published 20 May, 2016 12:00am
BJP wins power in north-east, widens influence

BJP wins power in north-east, widens influence

Indian Prime Minister Narendra Modi's ruling party on Thursday won power for the first time in the north-eastern state of Assam, a victory that will help his right-wing nationalist government recover some reform momentum after poll losses last year. Grabb
Published 20 May, 2016 12:00am
Syria regime strikes kill 16 civilians

Syria regime strikes kill 16 civilians

At least 16 civilians, including six children, were killed on Thursday in regime air strikes that targeted several towns in central Syria, a monitoring group said. Eleven civilians - three of them children - were killed when a barrage of barrel bombs hit
Published 20 May, 2016 12:00am
Indian journalist should not be held behind bars: CPJ

Indian journalist should not be held behind bars: CPJ

Indian authorities should immediately release Pushp Sharma, who is being held in pretrial detention for alleged forgery and incitement, the Committee to Protect Journalists said on Wednesday. Police in Delhi arrested Sharma, a journalist for The Milli Gaz
Published 20 May, 2016 12:00am
Brazil cane belt to see intense flowering for second year

Brazil cane belt to see intense flowering for second year

Brazil's main cane belt will likely see an intense flowering in the 2016/17 crop, similar to last season, potentially reducing yields in areas most affected, a leading cane research center said on Wednesday. Intense flowering of cane fields happen around
Published 20 May, 2016 12:00am
Shanghai copper down

Shanghai copper down

Shanghai Futures Exchange copper ended the session with 1.1-percent losses at 35,200 yuan ($5,381) on Thursday, but held above recent lows at 35,030 yuan a tonne. "Macro policymakers are driving direction in the metals markets at the minute," said analyst
Published 20 May, 2016 12:00am
Copper drops to three-month low on dollar pressure, weak demand

Copper drops to three-month low on dollar pressure, weak demand

Copper slumped to a three-month low on Thursday, weighed down by a stronger dollar, the potential for a US interest rate increase next month and worries about lacklustre demand. Prices gained more downside impetus after US weekly jobless claims showed the
Published 20 May, 2016 12:00am
Rubber down

Rubber down

Benchmark Tokyo rubber futures ended down 4 percent at a two-and-a-half month low on Thursday, in line with weak Shanghai futures and low oil prices. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, fe
Published 20 May, 2016 12:00am
Norway opens new Arctic zones to oil exploration

Norway opens new Arctic zones to oil exploration

Norway awarded Wednesday Arctic drilling licenses to 13 oil companies, including in a hitherto unexplored part of the Barents Sea, provoking condemnation from environmental groups. It is the first time since 1994 that the country has opened a new sector t
Published 20 May, 2016 12:00am
Palm oil declines to 10-week low tracking competing oils

Palm oil declines to 10-week low tracking competing oils

Malaysian benchmark palm oil futures fell to a near 10-week low on Thursday evening, as it tracked weaker performing rival oils in China. The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 1.6 percent to 2,519 ringgi
Published 20 May, 2016 12:00am
Arabica coffee sinks below long-term technical levels

Arabica coffee sinks below long-term technical levels

Arabica coffee futures on ICE sank more than 4 percent on Thursday, pressured by the strong US dollar, broad-based commodity selling and a flurry of automatic sell orders triggered around key technical levels. New York cocoa futures nudged down to a five-
Published 20 May, 2016 12:00am
Gold falls in New York

Gold falls in New York

Gold fell more than one percent on Wednesday as the dollar hit a new three-week high following minutes of the US Federal Reserve's last policy meeting that bolstered expectations that the central bank could soon raise interest rates. The US central bank w
Published 20 May, 2016 12:00am
Gold down in Asia

Gold down in Asia

Gold slipped to a three-week low on Thursday, extending overnight losses after minutes from a Federal Reserve policy meeting signalled the US central bank could raise rates as soon as next month, boosting the dollar to multi-week highs. Gold is highly sen
Published 20 May, 2016 12:00am
Gold dips in Europe

Gold dips in Europe

Gold slid more than 1 percent to a three-week low on Thursday, extending the previous day's decline, after minutes from the Federal Reserve's April policy meeting signalled that it could raise US interest rates as soon as next month. Downward pressure inc
Published 20 May, 2016 12:00am
Grain and soya futures slip

Grain and soya futures slip

US grain and soya futures dipped on Thursday as gains in the dollar prompted investors to take profits after recent rallies. Nearby soyabeans retreated after climbing on Wednesday to levels not seen for a front-month contract since September 2014, while n
Published 20 May, 2016 12:00am
US MIDDAY: gold slides to three-week low

US MIDDAY: gold slides to three-week low

Gold slid more than 1 percent to a three-week low on Thursday, extending the previous day's decline, after minutes from the Federal Reserve's April policy meeting signalled that it could raise US interest rates as soon as next month. Downward pressure bri
Published 20 May, 2016 12:00am
Cell phones, contraband medicine seized at Jinnah Airport

Cell phones, contraband medicine seized at Jinnah Airport

Model Customs Collectorate, Preventive on Thursday claimed to have seized huge quantity of cell phones and contraband medicine worth Rs 23.26 million at Jinnah International Airport (JIAP). This was stated by Syed Asad Raza Rizvi Additional Collector Cust
Published 20 May, 2016 12:00am
Oil steadies; Canadian, Nigerian supply issues offset strong dollar

Oil steadies; Canadian, Nigerian supply issues offset strong dollar

Oil prices settled largely unchanged on Thursday as worries about Canadian and Nigerian supply outages offset the impact of a stronger dollar, which has rallied on growing expectations the Federal Reserve will raise interest rates next month. The prospect
Published 20 May, 2016 12:00am
Speaker NA suspends membership of Chaudhry Asad

Speaker NA suspends membership of Chaudhry Asad

Speaker National Assembly Sardar Ayaz Sadiq on Thursday suspended the membership of MNA Chaudhry Asad-ur-Rehman who is also Chairman of the Standing Committee on Rules of Procedure and Privileges for remainder of the session of the House.
Published 20 May, 2016 12:00am
Government committed to progress, development of GB: Prime Minister

Government committed to progress, development of GB: Prime Minister

Prime Minister Muhammad Nawaz Sharif said on Thursday that his government was committed to the progress and development of Gilgit Baltistan and would ensure provision of all resources to bring it at par with the developed areas of the country. He was addr
Published 20 May, 2016 12:00am
MPS tomorrow: key policy rate may remain unchanged

MPS tomorrow: key policy rate may remain unchanged

The State Bank of Pakistan (SBP) is likely to maintain status quo in the upcoming Monetary Policy due to uptick in CPI inflation. The SBP will announce its monetary policy on Saturday for next two months. Independent monetary policy committee will meet on
Published 20 May, 2016 12:00am
FBR serves notice on banker for concealing information

FBR serves notice on banker for concealing information

Directorate General of Intelligence and Investigation Inland Revenue (IR) Karachi has served a notice to a senior executive of a bank, who has purportedly concealed information about his immoveable properties in Dubai. Information received at the Federal
Published 20 May, 2016 12:00am
FPCCI, HCSTSI concerned over unannounced power loadshedding

FPCCI, HCSTSI concerned over unannounced power loadshedding

The Chairman Standing Committee of Federation of Pakistan Chambers of Commerce and Industry on WAPDA Affairs, Abdul Sattar Khan has expressed his grave concern over the unannounced loadshedding by Hyderabad Electric Supply Company during sizzling weather.
Published 20 May, 2016 12:00am
Sindh Minimum Wages Act: body to oversee implementation: Solangi

Sindh Minimum Wages Act: body to oversee implementation: Solangi

Sindh Chief Minister Syed Qaim Ali Shah has constituted a committee to oversee the implementation of Sindh Minimum Wages Act. Sindh Secretary Labor and Human Resources Department Abdul Rasheed Solangi said that the committee would function under his super
Published 20 May, 2016 12:00am
Ali Riaz takes charge of Tameer Bank

Ali Riaz takes charge of Tameer Bank

Tameer Microfinance Bank announced that Ali Riaz Chaudhry has assumed the charge of bank's new President and Chief Executive Officer effective 16th May 2016. Ali was appointed to take charge after Telenor Group completed its 100 percent acquisition of Tam
Published 20 May, 2016 12:00am
Hot, dry weather to persist

Hot, dry weather to persist

Scorching heat continues to batter the country as temperature soared to 52 degrees Celsius in Larkana, the Met Office said on Thursday. The Office forecast mainly very hot and dry weather for most parts of the country in the next 24 hours. It said that ve
Published 20 May, 2016 12:00am
APTMA rejects ban on import of cotton from India
Cotton

APTMA rejects ban on import of cotton from India

All Pakistan Textile Mills Association (APTMA) strongly rejects demand of the Senate Committee on National Food Security and Research to immediately stop the import of cotton lint from India. Tariq Saud Chairman, APTMA said that the observation of the com
Published 20 May, 2016 12:00am
CABI, PFVA sign MoU on promotion of horticulture exports

CABI, PFVA sign MoU on promotion of horticulture exports

CAB International (CABI) Central and West Asia and All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) has signed a Memorandum of Understanding (MoU) to strengthen the cooperation for skills development and Research and
Published 20 May, 2016 12:00am
Diagnostic centre to be set up at LUMHS

Diagnostic centre to be set up at LUMHS

The Vice Chancellor LUMHS Professor Noshad A Shaikh has announced to establish LUMHS Diagnostic Centre Jamshoro" within the premises of University. While visiting the proposed site of the Diagnostic Centre, Professor Noshad A Shaikh expressed that keeping
Published 20 May, 2016 12:00am
Free health camp for special children on May 22

Free health camp for special children on May 22

A free camp will be held at Habib Physiotherapy Complex Phase - 5, Hayatabad Peshawar on May 22 where the physically disabled including polio affected children, cerebral palsy, special children, adult paralysis as stroke patients, patients with low back p
Published 20 May, 2016 12:00am
ACCA proposes single-digit sales tax

ACCA proposes single-digit sales tax

Association of Chartered Certified Accountants (ACCA) has proposed single digit sales tax, corporate tax rate between 20-25 percent, resolve classification/ jurisdiction disputes between provinces and federation, withdrawal of the Federal Excise Duty on s
Published 20 May, 2016 12:00am
CDA 'illegally' occupying 2,370 government residences

CDA 'illegally' occupying 2,370 government residences

The Capital Development Authority (CDA) is alleged to be solely in illegal possession of 2,370 government accommodations out of 2,880 which were initially notified as unidentified houses. This was revealed during a sub-committee meeting of the National As
Published 20 May, 2016 12:00am
MKP activists stage protest against corruption

MKP activists stage protest against corruption

The activists of Mazdoor Kisan Party (MKP) staged protest against surge in corruption and demanded for recovery of plundered national wealth and asked the National Accountability Bureau (NAB) for conducting across the board accountability of all corrupt e
Published 20 May, 2016 12:00am
Security upgrades at Shahbaz airport USACE intends to issue RFP

Security upgrades at Shahbaz airport USACE intends to issue RFP

The US Army Corps of Engineers (USACE), through its Transatlantic Middle East District (TAM), intends to issue a Request for Proposal (RFP) for an unrestricted firm fixed-price contract to provide security upgrades at Shahbaz Air base in Pakistan. These u
Published 20 May, 2016 12:00am
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