News Archives for Print - 2016-05-23 - Business Recorder

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Print - 2016-05-23

World's 'biggest' budget airline alliance takes off in Asia-Pacific

World's 'biggest' budget airline alliance takes off in Asia-Pacific

Eight budget airlines from Southeast Asia, Japan and Australia said Monday they have formed what they called the world's largest alliance of low-cost carriers, enabling customers to book connections using a shared platform.

Published 23 May, 2016 12:00am

De Beers Canada enters C$20 million diamond exploration deal

De Beers Canada enters C$20 million diamond exploration deal

De Beers Canada said on Wednesday it would spend up to C$20.4 million ($15.8 million) under a diamond exploration agreement with CanAlaska Uranium Ltd for target areas in Canada's Athabasca Basin. CanAlaska has staked claims covering 75 areas detected in

Published 23 May, 2016 12:00am

BP exploration boss leaves in reorganisation

BP exploration boss leaves in reorganisation

BP's head of exploration Richard Herbert is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits. Herbert, a BP veteran and a long-time ally of Chief Exe

Published 23 May, 2016 12:00am

Petronas warns of further oil price impact as profit hit

Petronas warns of further oil price impact as profit hit

Malaysia's Petroliam Nasional Bhd warned that lower oil prices will continue to hurt its earnings on Wednesday after its first quarter profit fell by 60 percent. The state-owned company has been hit hard by a tumble in oil prices that has forced it to sla

Published 23 May, 2016 12:00am

Nokia name to return to mobile phones after licensing deal

Nokia name to return to mobile phones after licensing deal

The Nokia name will return to the mobile phone market after a company backed by one of its former executives teamed up with manufacturer Foxconn to buy the rights to the brand for mobile devices. Nokia, once the world's biggest maker of mobile phones, was

Published 23 May, 2016 12:00am

Anthem, Cigna merger squabbles could delay antitrust approval

Anthem, Cigna merger squabbles could delay antitrust approval

Quarrels have broken out behind the scenes of Anthem Inc's proposed acquisition of Cigna Corp, as the health insurers seek regulatory approval for their landmark deal, the Wall Street Journal reported on Sunday. The newspaper said the squabbles could dela

Published 23 May, 2016 12:00am

Fiat Chrysler suspected of emissions cheating

Fiat Chrysler suspected of emissions cheating

German regulators suspect that Italian-American auto maker Fiat Chrysler, like Volkswagen, used illegal software to cheat on emissions tests, a newspaper report said Sunday. The German Federal Motor Vehicle Office (KBA) had sent a report voicing the suspi

Published 23 May, 2016 12:00am

Cameron warns Brexit would drive up food prices

Cameron warns Brexit would drive up food prices

British Prime Minister David Cameron warned voters on Sunday that they would face higher grocery bills if the country decides to leave the European Union at a June 23 referendum, citing a potential drop in the value of sterling. Cameron is leading the cam

Published 23 May, 2016 12:00am

How old-school factories stay alive in China's south

How old-school factories stay alive in China's south

Squeezed by high costs and unpredictable demand, some factories in southern China's manufacturing heartland are turning to a new strategy to survive: hiring workers by the day.

Published 23 May, 2016 12:00am

Egypt exempts raw sugar importers from customs duty

Egypt exempts raw sugar importers from customs duty

Egypt will exempt importers of raw sugar from customs duties up to the end of 2016 and effective retroactively from May 20, the state's official gazette said on Sunday. Egypt consumes around 3.2 million tonnes of sugar annually but produces just over 2 mi

Published 23 May, 2016 12:00am

Kyrgyzstan seeks to bring in Chinese factories

Kyrgyzstan seeks to bring in Chinese factories

Kyrgyzstan is in talks with its giant neighbour China about relocating dozens of Chinese plants and factories to the Central Asian nation, foreign minister Erlan Abdyldayev said on Sunday. China is a major supplier of consumer and industrial goods to the

Published 23 May, 2016 12:00am

Greece to adopt more cuts, tax hikes for bailout cash

Greece to adopt more cuts, tax hikes for bailout cash

Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation. With more than 8,500 people protesting over a string of unpopular reforms outsi

Published 23 May, 2016 12:00am

Rival suitors consider joint bid for Tata's UK steel assets

Rival suitors consider joint bid for Tata's UK steel assets

Excalibur Steel, a management buyout group interested in purchasing Tata Steel's British steelmaking operations, is considering joining forces with rival bidder Liberty House, The Sunday Times newspaper reported. Tata said in March it wanted to sell its U

Published 23 May, 2016 12:00am

Egypt's gas projects to increase production to 5.5-6 billion cfd by end-2019

Currency

Egypt's gas projects to increase production to 5.5-6 billion cfd by end-2019

Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day by the end of 2019, Oil Minister Tarek El Molla said on Sunday, up from the current 3.9 billion cubic ft per day.

Published 23 May, 2016 12:00am

French gas stations hit by blockades; PM says reserves enough to cope

French gas stations hit by blockades; PM says reserves enough to cope

Prime Minister Manuel Valls said on Sunday France had enough fuel reserves to tackle shortages at hundreds of gas stations caused by workers blocking oil refineries and depots in protest at an unpopular labour reform.

Published 23 May, 2016 12:00am

New York subway on the brink

New York subway on the brink

The New York subway is the seventh busiest in the world and has its highest ridership in 70 years, increasing delays and forcing management to formulate a plan of salvation. The morning commuter crush in Brooklyn, the city's most populated borough, can be

Published 23 May, 2016 12:00am

Ibrahimovic lifts French Cup in PSG swansong

Ibrahimovic lifts French Cup in PSG swansong

Zlatan Ibrahimovic scored two goals and set up another as Paris Saint-Germain defeated bitter rivals Marseille 4-2 to clinch a 10th French Cup title on Saturday in the Swede's final game with the club. Blaise Matuidi struck PSG's opening goal inside two m

Published 23 May, 2016 12:00am

Lingard rocket ends Man Utd's 12-year FA Cup wait

Lingard rocket ends Man Utd's 12-year FA Cup wait

Jesse Lingard's extra-time thunderbolt earned Manchester United a record-equalling 12th FA Cup as Louis van Gaal's side came from behind to defeat Crystal Palace 2-1 in Saturday's final at Wembley. In a rematch of the 1990 final, which United won after a

Published 23 May, 2016 12:00am

New Indian board chief targets top rankings, transparency

New Indian board chief targets top rankings, transparency

Making India the top team in all formats of the game will be the priority for Indian board (BCCI) president Anurag Thakur, the 41-year-old said after taking charge of the world's richest cricket board on Sunday.

Published 23 May, 2016 12:00am

Peace Cricket Mela concludes

Peace Cricket Mela concludes

Colourful Peace Cricket Mela concluded at village Kari Dabak, FR Tank with 30 different teams from the villages hailing from Dera Ismail khan, Tank and FR Tank took part in a month long event witnessed by hundreds and thousands spectators. There were matc

Published 23 May, 2016 12:00am

Ethiopia's Bekele wins Great Manchester Run

Ethiopia's Bekele wins Great Manchester Run

Ehtiopia's Kenenisa Bekele won the 10km Great Manchester Run on Sunday before expressing his frustration at being overlooked by his country's selectors for the Olympic Games in Rio. The three-times Olympic champion finished the Manchester race ahead of Ke

Published 23 May, 2016 12:00am

Charlo downs Jackson to make history

Charlo downs Jackson to make history

Jermell Charlo made boxing history on Saturday after scoring an eighth-round knockout of John Jackson in Las Vegas to claim the vacant World Boxing Council super-welterweight title.

Published 23 May, 2016 12:00am

Denmark down Indonesia to seal landmark Thomas Cup win

Denmark down Indonesia to seal landmark Thomas Cup win

Denmark became the first European country to lift the Thomas Cup on Sunday, winning the final 3-2 against Indonesia, the most successful nation in the history of the biennial men's badminton team championship. Indonesia clinched both doubles matches but V

Published 23 May, 2016 12:00am

Bayern clinch German Cup on Guardiola farewell

Bayern clinch German Cup on Guardiola farewell

Pep Guardiola celebrated a dramatic final victory as Bayern Munich coach on Saturday, as his side beat Borussia Dortmund on penalties to win the German Cup final. Neither side was able to find the net in 120 minutes of football, but Dortmund missed two pe

Published 23 May, 2016 12:00am

Angry Kyrgios, Kvitova pass chilly Roland Garros tests

Angry Kyrgios, Kvitova pass chilly Roland Garros tests

Controversial Australian Nick Kyrgios and two-time Wimbledon champion Petra Kvitova reached the French Open second round on Sunday as Roland Garros got off to a soggy, chilly start. Kyrgios overcame a first-set code violation to defeat Italy's Marco Cecch

Published 23 May, 2016 12:00am

Widening US money fund spread sets stage for $400 billion shift

Widening US money fund spread sets stage for $400 billion shift

The difference in yield between prime and government money market funds has widened by 6 basis points since January, according to data released on Wednesday, in a trend expected to accelerate as investors prepare for new rules being rolled out this autumn

Published 23 May, 2016 12:00am

Widening US money fund spread sets stage for $400 billion shift

Widening US money fund spread sets stage for $400 billion shift

The difference in yield between prime and government money market funds has widened by 6 basis points since January, according to data released on Wednesday, in a trend expected to accelerate as investors prepare for new rules being rolled out this autumn

Published 23 May, 2016 12:00am

China's CCBI plans Singapore asset management firm, yuan business

Currency

China's CCBI plans Singapore asset management firm, yuan business

China Construction Bank International (CCBI) plans to step up its internationalisation by setting up an asset management firm in Singapore this year and will launch more yuan-denominated products abroad to support China's push for wider use of its currenc

Published 23 May, 2016 12:00am

Asset managers do not need new liquidity safeguards: EU watchdog

Asset managers do not need new liquidity safeguards: EU watchdog

Asset managers do not need new safeguards at this point to cope with a decline in liquidity that has contributed to sharp swings in bond markets, a senior European Union regulator said. Steven Maijoor, chairman of the European Union's European Securities

Published 23 May, 2016 12:00am

Asset managers do not need new liquidity safeguards: EU watchdog

Asset managers do not need new liquidity safeguards: EU watchdog

Asset managers do not need new safeguards at this point to cope with a decline in liquidity that has contributed to sharp swings in bond markets, a senior European Union regulator said. Steven Maijoor, chairman of the European Union's European Securities

Published 23 May, 2016 12:00am

Gulf markets fall as investors take profits; Egypt sags

Gulf markets fall as investors take profits; Egypt sags

Stock markets in the Gulf fell on Sunday as investors took profits, taking their cue from a dip in Brent oil futures at the end of last week, while concerns over security risks put pressure on Egyptian shares.

Published 23 May, 2016 12:00am

China to tighten share suspension rules ahead of MSCI inclusion

China to tighten share suspension rules ahead of MSCI inclusion

China will tighten rules on listed companies suspending and resuming trade by as soon as next week to crack down on cheating and improve market order as index compiler MSCI EM index considers adding Chinese shares to its emerging market benchmark, the Chi

Published 23 May, 2016 12:00am

China to tighten share suspension rules ahead of MSCI inclusion

China to tighten share suspension rules ahead of MSCI inclusion

China will tighten rules on listed companies suspending and resuming trade by as soon as next week to crack down on cheating and improve market order as index compiler MSCI EM index considers adding Chinese shares to its emerging market benchmark, the Chi

Published 23 May, 2016 12:00am

Investors pull more money from US stock funds: ICI

Investors pull more money from US stock funds: ICI

Investors withdrew money from US-based stock mutual funds for the ninth straight week, Investment Company Institute data showed on Wednesday, reflecting skepticism about the market's growth prospects, tepid corporate earnings and mixed economic data.

Published 23 May, 2016 12:00am

Investors pull more money from US stock funds: ICI

Investors pull more money from US stock funds: ICI

Investors withdrew money from US-based stock mutual funds for the ninth straight week, Investment Company Institute data showed on Wednesday, reflecting skepticism about the market's growth prospects, tepid corporate earnings and mixed economic data.

Published 23 May, 2016 12:00am

Supervielle raises over $200 million in landmark IPO

Supervielle raises over $200 million in landmark IPO

Argentine financial group Supervielle said on Wednesday it raised around 3 billion pesos ($212.52 million) in the country's first initial public offering since 2010, cruising on a wave of investor interest in the country over pro-market reforms.

Published 23 May, 2016 12:00am

Thai debt firm BCAM plans IPO of up to $1 billion

Thai debt firm BCAM plans IPO of up to $1 billion

Bangkok Commercial Asset Management Pcl (BCAM), Thailand's largest bad debt management firm, plans to raise about $500 million to $1 billion from an initial public offering (IPO) on the Stock Exchange of Thailand, IFR reported.

Published 23 May, 2016 12:00am

Thai debt firm BCAM plans IPO of up to $1 billion

Thai debt firm BCAM plans IPO of up to $1 billion

Bangkok Commercial Asset Management Pcl (BCAM), Thailand's largest bad debt management firm, plans to raise about $500 million to $1 billion from an initial public offering (IPO) on the Stock Exchange of Thailand, IFR reported.

Published 23 May, 2016 12:00am

Hedge fund Saba Capital pulls in fresh cash as returns climb

Hedge fund Saba Capital pulls in fresh cash as returns climb

Boaz Weinstein's hedge fund Saba Capital has been pulling in new money this year even as many rival investors are being asked to return cash to their clients. The bulk of money went into Saba's newly launched portfolio that invests in closed-end bond fund

Published 23 May, 2016 12:00am

Hedge fund Saba Capital pulls in fresh cash as returns climb

Hedge fund Saba Capital pulls in fresh cash as returns climb

Boaz Weinstein's hedge fund Saba Capital has been pulling in new money this year even as many rival investors are being asked to return cash to their clients. The bulk of money went into Saba's newly launched portfolio that invests in closed-end bond fund

Published 23 May, 2016 12:00am

Nordea sees Brexit pushing Swedish and Norwegian crowns higher

Nordea sees Brexit pushing Swedish and Norwegian crowns higher

The Swedish and Norwegian crowns could rise as they benefit from capital flows leaving Britain and the euro zone if Britons vote to leave the European Union in a June 23 referendum, Swedish bank Nordea said in a report on Thursday.

Published 23 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 Sunday. 78.40-78.40 (previous 78.40-78.40).

Published 23 May, 2016 12:00am

Dell launches US $20 billion high-grade bond

Dell launches US $20 billion high-grade bond

Dell launched a US $20bn investment-grade bond on Tuesday, upsizing the trade on the back of a massive order book as it finances its acquisition of data storage company EMC. Investors had poured around US $87bn of orders into the deal, one banker said, gi

Published 23 May, 2016 12:00am

Dell launches US $20 billion high-grade bond

Dell launches US $20 billion high-grade bond

Dell launched a US $20bn investment-grade bond on Tuesday, upsizing the trade on the back of a massive order book as it finances its acquisition of data storage company EMC. Investors had poured around US $87bn of orders into the deal, one banker said, gi

Published 23 May, 2016 12:00am

Wall Street week ahead: economic data keeps Fed in focus for stocks

Wall Street week ahead: economic data keeps Fed in focus for stocks

Economic data will garner most of the attention next week, with investors placing a heavy weight on a host of reports as they try and determine the likelihood of a rate hike by the US Federal Reserve at its June meeting.

Published 23 May, 2016 12:00am

Austria on knife-edge as presidential race too close to call

Austria on knife-edge as presidential race too close to call

Austrian far-right hopes of winning a presidential runoff remained on hold Sunday as the candidates were neck-and-neck in a battle closely watched by the EU, which is struggling to contain a surge of anti-immigrant parties.

Published 23 May, 2016 12:00am

Former government minister killed in Libya IS clashes

Former government minister killed in Libya IS clashes

A Libyan former minister was killed in clashes between unity government forces and fighters of the Islamic State jihadist group in the Sirte area, the LANA news agency reported Sunday.

Published 23 May, 2016 12:00am

Iraq says its forces preparing for Fallujah battle

Iraq says its forces preparing for Fallujah battle

Iraqi forces are heading to Fallujah to launch a long-awaited operation to retake the city from the Islamic State jihadist group, the prime minister's spokesman announced on Sunday. "Your sons the heroic fighters in the armed forces are ready to achieve a

Published 23 May, 2016 12:00am

UN says Sudan 'expels' one of its senior officials

UN says Sudan 'expels' one of its senior officials

Sudan has "de facto expelled" a senior United Nations official after refusing to renew his "stay permit" for another year, a UN statement said on Sunday. The foreign ministry informed the UN in Sudan that the annual permit for Ivo Freijsen, who heads the

Published 23 May, 2016 12:00am

Rockets fired in western Afghan city Herat, one killed

Rockets fired in western Afghan city Herat, one killed

Rockets fired in the western Afghan city of Herat on Sunday hit a wall of the provincial governor's building and nearby houses, killing at least one civilian, a Reuters witness and a local official said.

Published 23 May, 2016 12:00am

India's mini space shuttle to blast off on test run

India's mini space shuttle to blast off on test run

India was making final preparations Sunday for the launch of its first model space shuttle, as it bids to join the race to one day make rockets as reusable as airplanes.

Published 23 May, 2016 12:00am

Tajikistan votes in referendum to empower veteran president

Tajikistan votes in referendum to empower veteran president

Polls closed in ex-Soviet Tajikistan Sunday in a referendum on constitutional changes almost certain to strengthen the hold of long-time President Emomali Rakhmon and his family over the impoverished Central Asian state.

Published 23 May, 2016 12:00am

Bombs kill eight in north-east Syria as US commander visits

Bombs kill eight in north-east Syria as US commander visits

Bombings suspected to have been carried out by the Islamic State group killed at least eight people in north-eastern Syria hours after a top US commander visited, security forces said Sunday. Washington regards the Kurdish-led militia that controls most o

Published 23 May, 2016 12:00am

Syria rebels give truce brokers 48 hours to end regime assault

Syria rebels give truce brokers 48 hours to end regime assault

Rebel groups Sunday set a 48-hour deadline for the US and Russian sponsors of a February cease-fire in Syria's conflict to halt a regime offensive in the Damascus region. "We are giving the sponsors of the ceasefire 48 hours to rescue what remains of the

Published 23 May, 2016 12:00am

Largest anti-coup rally as Thais mark two years of army takeover

Largest anti-coup rally as Thais mark two years of army takeover

Hundreds of protesters on Sunday marked the second anniversary of Thailand's latest coup with song, dance, speeches and pro-democracy banners, in the largest show of dissent since the military toppled an elected government.

Published 23 May, 2016 12:00am

Two dead in Austrian shooting rampage

Two dead in Austrian shooting rampage

A 27-year-old man opened fire on people during a village festival in western Austria, killing two people and injuring 11 others before turning the gun on himself, police said Sunday. The incident occurred overnight in Nenzig in the province of Vorarlberg,

Published 23 May, 2016 12:00am

Czech graphic artist Adolf Born dies

Czech graphic artist Adolf Born dies

Czech painter, illustrator and caricaturist Adolf Born, the author of several animated films for children, died aged 85 on Sunday, Czech media said. Exhibiting his works world-wide, Born earned a number of international awards and became the Chevalier (Kn

Published 23 May, 2016 12:00am

South Koreans shun smartphones in 'space-out' competition

South Koreans shun smartphones in 'space-out' competition

Dozens of people in one of the world's most wired nations took part Sunday in South Korea's "space-out" competition aimed at promoting a life free from stress and information overload.

Published 23 May, 2016 12:00am

Cyprus in record low turnout for parliament election

Cyprus in record low turnout for parliament election

Cypriots voted Sunday in an election that produced a record low turnout for parliamentary polls after a three-year economic downturn and amid widespread disillusion with politicians.

Published 23 May, 2016 12:00am

Couple axed to death for honour

Couple axed to death for honour

Two including husband and wife were axed to death for honour here on Sunday. Culprits managed to flee from the scene of crime. SSP Mirpur Zahid Mirza said that axed bodies of a couple were recovered from residential quarter of a poultry farm in Jatlan are

Published 23 May, 2016 12:00am

Commonwealth Ministerial Meeting in Geneva: Tarar says government fully committed to imperative of healthcare

Commonwealth Ministerial Meeting in Geneva: Tarar says government fully committed to imperative of healthcare

State Minister National Health Services and Regulations Saira Afzal Tarar, currently visiting Geneva to attend the Annual World Assembly, on Sunday participated in the meeting of the Health Ministers of the Common Wealth Region.

Published 23 May, 2016 12:00am

Capital including PM House facing water shortage

Capital including PM House facing water shortage

Islamabad is facing the worst kind of water crisis and even the Prime Minister House was also affected. According to details, several sectors of the Capital have been facing severe potable water crisis for the last many days and on Saturday the water supp

Published 23 May, 2016 12:00am

Three bodies found in Manghopir area

Three bodies found in Manghopir area

As many as three bodies were recovered from Karachi's Manghopir area on Sunday.

Published 23 May, 2016 12:00am

Eight killed after bus falls into ravine

Eight killed after bus falls into ravine

At least eight people were killed and 15 injured when a bus fell into a ravine here on Sunday. The bus was travelling near from Karachi to Panjgur when the incident took place near the town of Naag in Kharan district, Balochistan.

Published 23 May, 2016 12:00am

Strong ties with China constitute bedrock of our foreign policy: Sartaj

Strong ties with China constitute bedrock of our foreign policy: Sartaj

Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz on Sunday said that China was the largest trading partner of Pakistan with $18 billion that reflected strong political links and growing economic ties between the two countries.

Published 23 May, 2016 12:00am

Sindh government launches interest-free loan for poor women

Sindh government launches interest-free loan for poor women

Sindh Government has launched an interest free loan for poor women in five divisions of the province Rs 50,000/ (fifty thousand rupees) per head to be recovered in three (03) years. The scheme will continue to benefit the poor women year-by-year. Chief Se

Published 23 May, 2016 12:00am

SLIC achieved record income of Rs 66.804 billion in 2015: Nargis Ghaloo

SLIC achieved record income of Rs 66.804 billion in 2015: Nargis Ghaloo

State Life Insurance Corporation of Pakistan in the year 2015, has paid total amount of Rs 13.762 billion against all claims, thus providing financial protection and savings to millions of valued policyholders and their families nation-wide, this was stat

Published 23 May, 2016 12:00am

Chandio says Prime Minister has mishandled issue of Panama Leaks

Chandio says Prime Minister has mishandled issue of Panama Leaks

Adviser to CM Sindh for Information, Moula Bux Chandio, has said Main Muhammad Nawaz Shareef mishandled the Panama papers issue and did not take opposition in confidence otherwise he would not face such difficulties he was facing now.

Published 23 May, 2016 12:00am

Management bodies to look after child protection institutes

Management bodies to look after child protection institutes

The provincial government had introduced the Khyber Pakhtunkhwa Child Protection and Welfare (Amendment) Ordinance, 2016 promulgated by the Governor last month in the house.

Published 23 May, 2016 12:00am

FC man shot dead in Bannu

FC man shot dead in Bannu

Armed men gunned down an FC personnel here on Sunday and fled from the scene of the crime. Police said that armed men opened fire at FC personnel who was on a visit to home for his wedding anniversary to be held in next few days in Nar Jaffar area of Bann

Published 23 May, 2016 12:00am

Finance Ministry reacts to 'smear campaign'

Finance Ministry reacts to 'smear campaign'

The spokesman of Ministry of Finance on Sunday said that some irresponsible and ill-motivated elements have started a smear campaign on social media against the Ministry, falsely alleging that it has outsourced budget making to foreigners.

Published 23 May, 2016 12:00am

Profiteers, sellers of sub-standard items held in Mohmand

Profiteers, sellers of sub-standard items held in Mohmand

The political administration in Lower Mohmand Ekkaghound areas of Mohmand Agency apprehended profiteers, sub-standard materials seller shopkeepers.

Published 23 May, 2016 12:00am

Prime Minister leaves for London

Prime Minister leaves for London

Prime Minister Nawaz Sharif accompanied by his wife Kalsoom Nawaz left for London on a five-day private visit, here on Sunday. Chief Minister Punjab Shahbaz Sharif saw him off at Lahore Airport. The Prime Minister during his visit would get his medical ch

Published 23 May, 2016 12:00am

Dar directs SBP, FBR, SECP to take steps towards stopping illegal outflows

Dar directs SBP, FBR, SECP to take steps towards stopping illegal outflows

Finance Minister Ishaq Dar has directed State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP) to prepare a comprehensive plan and legislation to plug in loopholes to stop illegal foreign out

Published 23 May, 2016 12:00am

Nine shopkeepers arrested for selling fireworks

Nine shopkeepers arrested for selling fireworks

At least nine shopkeepers were arrested and fireworks recovered during crackdowns here on Sunday. The police following the directives of Chief Minister Punjab, conducted operation against the culprits involved in selling fireworks in Hafizabad city.

Published 23 May, 2016 12:00am

Punjab schools: vacations will begin from May 24

Punjab schools: vacations will begin from May 24

The Punjab Education Department on Sunday announced that all educational institutions in the province will remain closed for three months. All the government and private schools will remain closed from May 24th till August 15th in the wake of extremely ho

Published 23 May, 2016 12:00am

Corruption by ruling elite causing immense harm to country: JI chief

Corruption by ruling elite causing immense harm to country: JI chief

Ameer Jamaat-e-Islami (JI), Senator Siraj-ul-Haq on Sunday said, our children demand a corruption free Pakistan as the corrupt rulers have added billions of rupees in debts, payable by every child of Pakistan.

Published 23 May, 2016 12:00am

Imran says he believes Nawaz won't be able to complete his term

Imran says he believes Nawaz won't be able to complete his term

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said that the construction of roads and airports will only be possible if the Prime Minister will be able to complete his tenure.

Published 23 May, 2016 12:00am

PWPD provides wildlife training to 123 officers

PWPD provides wildlife training to 123 officers

Provincial Wildlife & Parks Department has provided short duration training to 123 officers and officials of Pakistan Air Force, Khyber Pakhtunkhwa, Gilgit Baltistan and Wildlife & Parks Department at Lahore Zoo and Wildlife Training School Faisalabad. A

Published 23 May, 2016 12:00am

JI announces schedule of anti-corruption 'Train March' drive

JI announces schedule of anti-corruption 'Train March' drive

Secretary General, Jamaat e Islami, Liaqat Baloch, has said that if the democratic forces did not hold their own accountability, some other institution would do that. He was addressing a press conference at the Lahore Press Club at which he announced the

Published 23 May, 2016 12:00am

Economic corridor: FPCCI president praises China's leadership

Economic corridor: FPCCI president praises China's leadership

President FPCCI Abdul Rauf Alam has said that China-Pakistan Economic Corridor (CPEC) project is a game changer and the most popular project in the history of Pakistan which is being taken very seriously by Pakistan Government and the Army.

Published 23 May, 2016 12:00am

Body on Panama leaks not finalised: Speaker NA

Body on Panama leaks not finalised: Speaker NA

Sardar Ayaz Sadiq Speaker National Assembly here on Sunday met former Prime Minister Yusuf Raza Gillani and congratulated him on safe recovery of his son Ali Haider Gillani. Speaker talking to media later said that opposition had given him names of those

Published 23 May, 2016 12:00am

Confiscated vehicles, goods: MCC generates Rs 55 million through public auction

Confiscated vehicles, goods: MCC generates Rs 55 million through public auction

Model Customs Collectorate (MCC), Islamabad, generated a handsome amount of approximately Rs 55 million from grand public auction of confiscated vehicles, bikes and other consignments.

Published 23 May, 2016 12:00am

MCCI hails policy rate cut

MCCI hails policy rate cut

The Multan Chamber of Commerce & Industry on Sunday hailed SBP to reduce policy (interest) rate by 25 basis points from 6.0 percent to 5.75 percent and said that it would not only help stimulate private sector growth but would also bring down the inflatio

Published 23 May, 2016 12:00am

Abid Sher inaugurates water-filtration plants

Abid Sher inaugurates water-filtration plants

Abid Sher Ali along with Khawaja Muhammad Islam, Mian Tahir Jameel and Maulana Ilyas Chinioti inaugurated 9 water filtration plants under the aegis of Chiniot Educational Scholarship Trust. State Minister for Water and Power, Chaudhary Abid Sher Ali, inau

Published 23 May, 2016 12:00am

64 U-turn points demolished for road safety: DIG

64 U-turn points demolished for road safety: DIG

As many as 14 deaths were reported on national highway in the year of 2015 owing to illegal U turn violations. The improper and dangerous U-turns are the most serious threat to road safety and can result in serious injuries and fatalities. Around 64 impro

Published 23 May, 2016 12:00am

Mini industrial estates should be set up: SCCI chief

Mini industrial estates should be set up: SCCI chief

President Sialkot Chamber of Commerce and Industry (SCCI) Mansoor Ahmed has said that there was a great need of establishing organised mini industrial estates and training institutions in this export-oriented city and hub of cottage industry for accommoda

Published 23 May, 2016 12:00am

Pak-US relations: Pakistan's policy has become a bit complex: expert

Pak-US relations: Pakistan's policy has become a bit complex: expert

US lawmakers are mulling using a defence policy bill to increase restrictions on military aid for Pakistan, defence experts said. Defence expert Lt. General Talat Masood (retd) told Business Recorder that Pakistan's foreign policy has become a bit

Published 23 May, 2016 12:00am

FBR taking measures to remove deficiencies in laws: spokesman

FBR taking measures to remove deficiencies in laws: spokesman

The Federal Board of Revenue (FBR) will take measures in the budget (2016-17) to remove deficiencies in tax laws and plug in loopholes that are exploited to make investments in offshore companies aboard with a view to avoiding taxes at home.

Published 23 May, 2016 12:00am

FBR taking measures to remove deficiencies in laws: spokesman

FBR taking measures to remove deficiencies in laws: spokesman

The Federal Board of Revenue (FBR) will take measures in the budget (2016-17) to remove deficiencies in tax laws and plug in loopholes that are exploited to make investments in offshore companies aboard with a view to avoiding taxes at home.

Published 23 May, 2016 12:00am

FBR taking measures to remove deficiencies in laws: spokesman

FBR taking measures to remove deficiencies in laws: spokesman

The Federal Board of Revenue (FBR) will take measures in the budget (2016-17) to remove deficiencies in tax laws and plug in loopholes that are exploited to make investments in offshore companies aboard with a view to avoiding taxes at home.

Published 23 May, 2016 12:00am

Money-laundering, Farooq's murder cases: Scotland Yard team arrives in Islamabad

Money-laundering, Farooq's murder cases: Scotland Yard team arrives in Islamabad

A six-member Scotland Yard team investigating murder of Muttahida Qaumi Movement (MQM) leader Dr Imran Farooq has arrived in Islamabad on Sunday. The team headed by Stewart Michael includes inspection experts and top security officials who will further in

Published 23 May, 2016 12:00am

Money-laundering, Farooq's murder cases: Scotland Yard team arrives in Islamabad

Money-laundering, Farooq's murder cases: Scotland Yard team arrives in Islamabad

A six-member Scotland Yard team investigating murder of Muttahida Qaumi Movement (MQM) leader Dr Imran Farooq has arrived in Islamabad on Sunday. The team headed by Stewart Michael includes inspection experts and top security officials who will further in

Published 23 May, 2016 12:00am

Suu Kyi calls for 'space' to address Muslim population

Suu Kyi calls for 'space' to address Muslim population

Myanmar's Aung San Suu Kyi asked to be given "enough space" to address the plight of her country's Rohingya Muslim population, as visiting US Secretary of State John Kerry pressed the Nobel peace laureate to promote respect for human rights.

Published 23 May, 2016 12:00am

Suu Kyi calls for 'space' to address Muslim population

Suu Kyi calls for 'space' to address Muslim population

Myanmar's Aung San Suu Kyi asked to be given "enough space" to address the plight of her country's Rohingya Muslim population, as visiting US Secretary of State John Kerry pressed the Nobel peace laureate to promote respect for human rights.

Published 23 May, 2016 12:00am

Erdogan loyalist chosen as ruling party chief, set to be Turkey Prime Minister

Erdogan loyalist chosen as ruling party chief, set to be Turkey Prime Minister

Turkey's transport minister Binali Yildirim, a steadfast ally of President Recep Tayyip Erdogan, was Sunday named ruling party chief and was also set to be appointed as prime minister in moves further consolidating the Turkish strongman's grip on power.

Published 23 May, 2016 12:00am

Erdogan loyalist chosen as ruling party chief, set to be Turkey Prime Minister

Erdogan loyalist chosen as ruling party chief, set to be Turkey Prime Minister

Turkey's transport minister Binali Yildirim, a steadfast ally of President Recep Tayyip Erdogan, was Sunday named ruling party chief and was also set to be appointed as prime minister in moves further consolidating the Turkish strongman's grip on power.

Published 23 May, 2016 12:00am

Obama lands in Vietnam to boost security, trade ties

Obama lands in Vietnam to boost security, trade ties

US President Barack Obama landed in Vietnam late Sunday for a landmark visit capping two decades of rapprochement between the former wartime foes, as both countries look to push trade and check Beijing''s growing assertiveness in the South China Sea. Air

Published 23 May, 2016 12:00am

Obama lands in Vietnam to boost security, trade ties

Obama lands in Vietnam to boost security, trade ties

US President Barack Obama landed in Vietnam late Sunday for a landmark visit capping two decades of rapprochement between the former wartime foes, as both countries look to push trade and check Beijing's growing assertiveness in the South China Sea. Air F

Published 23 May, 2016 12:00am

Obama lands in Vietnam to boost security, trade ties

Obama lands in Vietnam to boost security, trade ties

US President Barack Obama landed in Vietnam late Sunday for a landmark visit capping two decades of rapprochement between the former wartime foes, as both countries look to push trade and check Beijing's growing assertiveness in the South China Sea. Air F

Published 23 May, 2016 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 20	277.90
USD PKR Interbank Buying / Sep 20	277.70
USD to Japanese Yen / Sep 20	143.85
USD to Swiss Franc / Sep 20	0.85
Pound Sterling to USD / Sep 20	1.33
Euro to USD / Sep 20	1.12

Stock	Volume
S&P 500 / Sep 20	5,702.55
India Sensex / Sep 20	83,184.80
Tokyo Nikkei / Sep 20	37,723.91
Nasdaq / Sep 20	17,948.32
Hang Seng / Sep 20	18,258.57
FTSE 100 / Sep 20	8,229.99
Dow Jones / Sep 20	42,063.36
Germany DAX 30 / Sep 20	18,720.01

Item	Value
Crude Oil USD/Barrel / Sep 20	71.92
Gold Spot USD/Ounce / Sep 20	2,621.88
Cotton US¢/pound / Sep 20	73.52
Petrol/Litre / Sep 21	249.10
Karachi Cotton PKR/37.32 KG / Sep 21	18,935
Gold 10 Grams PKR / Sep 21	233,625

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 21 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 21 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 21 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 21 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 21 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 21 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 21 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 21 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 21 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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Basmati price: Pakistan’s rice export boom ends after India’s move

Basmati price: Pakistan’s rice export boom ends after India’s move

NJLI Sarmaya Growth Fund Rates

Two Pakistani female peacekeepers honoured

Two Pakistani female peacekeepers honoured

Good news on revised IPP deals in a few weeks: power minister Awais

Good news on revised IPP deals in a few weeks: power minister Awais

Tractor maker proves ‘application’ of SRO as mala fide of FBR

Tractor maker proves ‘application’ of SRO as mala fide of FBR

Pakistan’s power generation falls sharply amid rising costs, solarisation

Pakistan’s power generation falls sharply amid rising costs, solarisation

Chinese investment company to set up textile parks

Chinese investment company to set up textile parks

PM approves FBR’s home-grown makeover

PM approves FBR’s home-grown makeover

FFBL board approves merger with Fauji Fertilizer

FFBL board approves merger with Fauji Fertilizer