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Print - 2016-05-29
Big banks' Q1 commodities revenue drops 40 percent

Big banks' Q1 commodities revenue drops 40 percent

Commodities-related revenue at the 12 biggest investment banks tumbled 40 percent in the first three months of the year as lenders cut exposure to the oil and industrial metals sectors, a consultancy said on Tuesday. First-quarter revenue from commodity t
Published 29 May, 2016 12:00am
India seen holding off for now on reducing raw sugar import tax

India seen holding off for now on reducing raw sugar import tax

Indian authorities are expected to hold off before cutting or cancelling a 40 percent raw sugar import duty as a last resort to tackle surging domestic prices as the country shifts from net exporter to importer. Soaring domestic sugar prices in the world'
Published 29 May, 2016 12:00am
Grain producers to fight South African land move if price too low

Grain producers to fight South African land move if price too low

South Africa's largest grain producers' group would challenge government efforts to expropriate land for redistribution to blacks if the compensation offered falls below market prices, its chief executive said on Tuesday. The ruling African National Congr
Published 29 May, 2016 12:00am
Weak peso boosts Argentina's role in raw sugar expiries
Currency

Weak peso boosts Argentina's role in raw sugar expiries

A weak peso has transformed Argentine sugar deliveries against ICE raw sugar contracts from a rarity to a regular occurrence, with potentially more than 100,000 tonnes available to tender against the July contract which expires next month. The origin is s
Published 29 May, 2016 12:00am
Egypt's local wheat buying reaches 4.328 million tonnes

Egypt's local wheat buying reaches 4.328 million tonnes

Egypt's government has bought 4.328 million tonnes of local wheat since the start of the season on April 15, the minister of supply said in a statement on Saturday. The agriculture ministry said in a statement last week that the government was committed t
Published 29 May, 2016 12:00am
Asia industrial commodities drop on Japan, China demand concerns
Cotton

Asia industrial commodities drop on Japan, China demand concerns

Asian industrial commodities, including steel, iron ore and rubber, slumped on Monday as concerns about the economic health of the region's two biggest export economies, China and Japan, raised questions about their demand for raw materials. Chinese steel
Published 29 May, 2016 12:00am
Admiral Zakaullah meets Flag Officer Fleet South African Navy

Admiral Zakaullah meets Flag Officer Fleet South African Navy

Chief of the Naval Staff Admiral Muhammad Zakaullah, who is on an official visit to South Africa, called on Flag Officer Fleet of South African Navy, Rear Admiral Bubele Kitie Mhlana, here on Saturday. Upon arrival at Fleet Command HQs, the Admiral was re
Published 29 May, 2016 12:00am
QWP demands initiation of work on western route of CPEC

QWP demands initiation of work on western route of CPEC

Qaumi Watan Party (QWP) Chairman Aftab Ahmad Khan Sherpao said on Saturday that only strong communication system could boost up country's weak economy and demanded federal government to start work on western route of the China-Pakistan Economic Corridors
Published 29 May, 2016 12:00am
Rabbani elected life time fellow of forum of federation

Rabbani elected life time fellow of forum of federation

Forum of Federation, a worldwide body having all countries' practicing federalism as members, has elected Senate Chairman Mian Raza Rabbani as its life time fellow. After the 18th Amendment, Senator Rabbani pioneered Pakistan's membership of the Forum and
Published 29 May, 2016 12:00am
IIUI convocation held: President for projecting true image of Islam

IIUI convocation held: President for projecting true image of Islam

President Mamnoon Hussain on Saturday called upon the thinkers, researchers, teachers and students to play their due role in highlighting the true image of Islam by effectively countering a negative impression created by certain elements. Addressing the 1
Published 29 May, 2016 12:00am
PA Khyber Agency bans use of weapons

PA Khyber Agency bans use of weapons

The political administration (PA) tehsil Landi Kotal, Khyber Agency, prohibited use of weapons in inter-tribal conflicts and said that the violators would be dealt according. In a public notice circulated on Saturday, warned dwellers of Landi Kotal to avo
Published 29 May, 2016 12:00am
Pakistani manufacturers showcase auto parts in US

Pakistani manufacturers showcase auto parts in US

Pakistan's auto parts manufacturing industry offers a cost-effective option to automobile manufacturers around the world, Consul General Faisal Niaz Tirmizi has said. Speaking at the Pakistan's Automotive Components Manufacturer Exhibition at Novi, Michig
Published 29 May, 2016 12:00am
Iftikhar Chaudhry calls for electing new Prime Minister

Iftikhar Chaudhry calls for electing new Prime Minister

Chief of Pakistan Justice and Democratic Party (PJDP) and former Chief Justice (CJP) Iftikhar Muhammad Chaudhry has called for electing new prime minister as the incumbent Premier Nawaz Sharif would undergo an open heart surgery in London. Talking to medi
Published 29 May, 2016 12:00am
FCCI chief seeks proactive role of trade bodies towards solving problems

FCCI chief seeks proactive role of trade bodies towards solving problems

Trade bodies should play their pro-active role to resolve the problems confronted by the business community on top priority basis, said Chaudhry Muhammad Nawaz President Faisalabad Chamber of Commerce and Industry (FCCI). He was addressing the oath-taking
Published 29 May, 2016 12:00am
Poor law & order situation witnessed in Islamabad

Poor law & order situation witnessed in Islamabad

The law and order situation in metropolis remained extremely poor during the past week, as per details collected by Business Recorder, here on Saturday. According to details, crime especially motor vehicle theft, robberies and snatching at gunpoint
Published 29 May, 2016 12:00am
India's membership of NSG not about arms race: US tells Pakistan

India's membership of NSG not about arms race: US tells Pakistan

In an apparent dissatisfaction over Pakistan's opposition to India becoming a member of the Nuclear Suppliers Group (NSG), the US has said it is not about an arms race, but about civilian use of nuclear energy. "This is not about an arms race and it's not
Published 29 May, 2016 12:00am
Literary figures pay tributes to Manto

Literary figures pay tributes to Manto

Pakistan Academy for Letters (PAL) arranged a seminar on life, art and personality of the renowned fiction writer Saadat Hassan Manto. Besides, prominent poet and fiction writer, Professor Nasir Ali Syed, Resident Director, PAL-Peshawar, Said Wali Khiyal
Published 29 May, 2016 12:00am
HMC employees Salaries approved

HMC employees Salaries approved

Finance Minister, Senator Mohammad Ishaq Dar as Chairman, Economic Coordination Committee of the Cabinet, has accorded approval for payment of seven months salaries to the employees of Heavy Mechanical Complex, Taxila. The decision has been taken on human
Published 29 May, 2016 12:00am
Ramazan office timings announced

Ramazan office timings announced

The Ministry of Interior and Narcotics control has announced the Federal Government office timings during the ensuing holy month of Ramazan. According to a notification issued here, separate timings have been announced for the offices working five days a
Published 29 May, 2016 12:00am
Sri Lanka receives third tranche of relief aid

Sri Lanka receives third tranche of relief aid

A special cargo plane carrying relief goods for the Sri Lankan flood victims from Pakistan arrived at Bandaranaike International Airport Katunayake this afternoon. The Pakistani cargo plane brought the 3rd consignment of relief good containing medicine, r
Published 29 May, 2016 12:00am
Repair of damaged power house: people of Chitral continue sit-in

Repair of damaged power house: people of Chitral continue sit-in

The residents of Reshun area of Chitral continued sit-in for repair of damaged hydro power station on Saturday, the seventh consecutive day. The people participating in the sit-in said there was no electricity in their areas for the last one year and the
Published 29 May, 2016 12:00am
Two Pakistani drug paddlers jailed for 86 months in UK

Two Pakistani drug paddlers jailed for 86 months in UK

Two Pakistan origin Britons, Sajid Mahmood and Mohammad Hannan were jailed for a total seven years and two months for drug paddling in Bradford, called famous among Pakistani diasporas as 'little Pakistan'. According to details, drug dealer Sajid Mahmood
Published 29 May, 2016 12:00am
PPA delegation apprises Dar about current trends in market

PPA delegation apprises Dar about current trends in market

Finance Minister Senator Ishaq Dar on Saturday held a meeting with delegation of Pakistan Poultry Association (PPA). The delegation was led by Dr Khalid Saleem Malik, Chairman PPA. Advisor to Prime Minister on Revenue, Haroon Akhtar Khan and Chairman FBR,
Published 29 May, 2016 12:00am
Jail Manual violation Usman Moazzam, other inmates go on hunger strike

Jail Manual violation Usman Moazzam, other inmates go on hunger strike

Pasban-e-Pakistan general secretary, Usman Moazzam and four other prisoners have gone on hunger strike in the Central Jail Karachi against the violation of jail manual. According to details, Usman Moazzam and other prisoners were incarcerated in the close
Published 29 May, 2016 12:00am
Bullet-riddled body found

Bullet-riddled body found

The security personnel recovered bullet riddled body of a local resident here on Saturday. Levies sources said that body of man later identified as Noor Bux was found from Baleda area of Turbat. The body shifted to local BHU and the security forces have s
Published 29 May, 2016 12:00am
BMG extends well wishes to Prime Minister

BMG extends well wishes to Prime Minister

The leadership of Businessmen Group (BMG) and Office Bearers of the Karachi Chamber of Commerce and Industry (KCCI) have extended well wishes and prayers to Prime Minister Mian Muhammad Nawaz Sharif for his successful surgery and speedy recovery.
Published 29 May, 2016 12:00am
APCCA apprehends accumulation of containers at ports in Ramazan

APCCA apprehends accumulation of containers at ports in Ramazan

All Pakistan Customs Agents Association (APCAA) has said that enormous number of containers is likely to be stuck at ports during holy month of Ramazan, if delays issues remain unresolved. In a letter sent to both chief collectors South- Appraisement and
Published 29 May, 2016 12:00am
KP government evolves effective mechanism to address complaints: Khattak

KP government evolves effective mechanism to address complaints: Khattak

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that his government has evolved an effective Complaint Redressal Mechanism in the province in order to ensure that the people complaints are not only recorded but resolved as well. He said that bef
Published 29 May, 2016 12:00am
Rain, thunderstorm in upper regions forecast

Rain, thunderstorm in upper regions forecast

The Met Office on Saturday forecast rain, thunderstorm and gusty winds in upper regions of the country for the next 24 hours. The Met forecast said, rain coupled with thunderstorm and gusty winds are likely at places in Malakand, Hazara, Kohat, Peshawar,
Published 29 May, 2016 12:00am
USAID opens work on $155 million Sindh school project

USAID opens work on $155 million Sindh school project

The United States Agency for International Development (USAID) broke ground on construction of a school in Mondar Lakha Village. Qambar Shahdadkot District Deputy Director Fayyaz Alam Solangi planted a tree to mark the occasion, which was attended by offi
Published 29 May, 2016 12:00am
Baldia factory case: non-bailable warrants for key accused issued

Baldia factory case: non-bailable warrants for key accused issued

A local court in Karachi on Saturday remarked that the provincial government is not serious in Baldia Town factory fire case as the matter has lingered on since 2012. Session Court West heard the case amid tight security arrangements on Saturday. Rangers
Published 29 May, 2016 12:00am
Shahbaz explains criticality of roads in development of rural economies

Shahbaz explains criticality of roads in development of rural economies

Punjab Chief Minister, Muhammad Shahbaz Sharif has said that Khadim-e-Punjab Rural Roads Programme, which is the biggest project of repair and rehabilitation of rural roads in the history of the country, is continuing speedily and thousands of kilometre l
Published 29 May, 2016 12:00am
Prayers for PM offered: PML-N holds rally to mark Youm-e-Takbeer

Prayers for PM offered: PML-N holds rally to mark Youm-e-Takbeer

Pakistan Muslim League-N took out a rally to celebrate Youm-e-Takbeer - the day of year 1998 when Pakistan become the first Islamic nuclear power by conducting successful nuclear tests at Chaghi and proved that defence of Pakistan was invincible and nobod
Published 29 May, 2016 12:00am
Government pledges to withdraw 16 percent FED: ECAP
Currency

Government pledges to withdraw 16 percent FED: ECAP

The federal government has pledged to withdraw 16 percent Federal Excise Duty (FED) imposed on exchange companies. A delegation of Exchange Companies met Finance Minister Ishaq Dar and Haroon Akhtar, Advisor to Prime Minister on Revenue, on Friday to disc
Published 29 May, 2016 12:00am
Indonesian envoy urges Pakistani businessmen to explore market

Indonesian envoy urges Pakistani businessmen to explore market

Ambassador of Indonesia Iwan Suyudhie Amri has urged the Pakistani businessmen to explore the Indonesian market to take its advantage. While talking to the Lahore Chamber of Commerce and Industry (LCCI) Vice President Nasir Saeed, the Ambassador stressed
Published 29 May, 2016 12:00am
Prices of essential kitchen items witness slight increase: BR survey

Prices of essential kitchen items witness slight increase: BR survey

The prices of essential kitchen items have witnessed a slight increase during this past week compared to preceding week, a survey conducted by Business Recorder on Saturday revealed. The survey observed that Karaila in the wholesale market is being
Published 29 May, 2016 12:00am
PML-N holds public gathering in Lyari

PML-N holds public gathering in Lyari

Pakistan Muslim League - Nawaz (PML-N) on Saturday held a public gathering in Lyari after winning a considerable number of seats in the recently held local body elections in the city. Although, workers who converged at the historic - Molvi Usman Park came
Published 29 May, 2016 12:00am
Faulty tubewells creating water shortage in Lahore

Faulty tubewells creating water shortage in Lahore

Several tubewells belonging to Water and Sanitation Agency (WSA) have either given out or their capability has lessened by 50 percent owing to falling level of water, increasing water shortage in the city. According to WASA officials, the authority operat
Published 29 May, 2016 12:00am
ToRs should be formulated within parameters of constitution: Fazl

ToRs should be formulated within parameters of constitution: Fazl

Chief of Jamiat Ulema-e-Islam-Fazl (JUI-F) Maulana Fazl-ur-Rehman has urged the parliamentary committee to formulate Terms of Reference (ToRs) within parameters of the Constitution. Talking to Pakistan Television (PTV), he welcomed the formation of the pa
Published 29 May, 2016 12:00am
IT University vice chancellor invited to California summit

IT University vice chancellor invited to California summit

The IT University Lahore's vice chancellor has been invited by the White House to participate in the 2016 Global Entrepreneurship Summit to be held at the Stanford University, the Silicon Valley in California. Vice Chancellor Doctor Umar Saif is also the
Published 29 May, 2016 12:00am
Substandard AI endangering livestock: UAF

Substandard AI endangering livestock: UAF

Substandard Artificial Insemination (AI) is deteriorating the genetic resources of the livestock in the country, said University of Agriculture Faisalabad Vice Chancellor Professor Dr Iqrar Ahmad Khan. He addressed a seminar on the project of indigenous c
Published 29 May, 2016 12:00am
Institute of Capital Markets signs MoU with IBA

Institute of Capital Markets signs MoU with IBA

Center for Executive Education, IBA, Karachi and Institute of Capital Markets have join hands for capital market development in Pakistan. Dr Sayeed Ghani, Acting Dean and Director of IBA and Muhammad Ali Khan, CEO of ICM signed an MoU on May 26, 2016 at C
Published 29 May, 2016 12:00am
PM's illness delays NSC meeting

PM's illness delays NSC meeting

The meeting of the National Security Committee (NSC) is delayed due to the scheduled open heart surgery of Prime Minister Nawaz Sharif on Tuesday in London and it would be convened once the premier returns to the country, it was learnt. Sources said that
Published 29 May, 2016 12:00am
Panama Papers: 99 percent corruption yet to be revealed: Sarwar

Panama Papers: 99 percent corruption yet to be revealed: Sarwar

A Pakistan Tehreek-i-Insaf leader in the Punjab, whose party has launched an unabated volley of attack on the government since the post-Panama papers revelations, has claimed that only "one percent of corruption committed by politicians has been revealed
Published 29 May, 2016 12:00am
US CG meets Chaudhry brothers

US CG meets Chaudhry brothers

US Consul General Zachary Harkenrider held a long meeting with Pakistan Muslim League (PML-Q) President and former Prime Minister Chaudhry Shujat Hussain, senior central leader and former Deputy Prime Minister Chaudhry Parvez Elahi and MNA and Member of O
Published 29 May, 2016 12:00am
Court holding preliminary hearing

Court holding preliminary hearing

The Lahore High Court is holding a preliminary rehearing of an application expecting action against Punjab government official for banning the controversial Pakistani-made film, "Maalik". The controversy stemmed from the government's rare step directly ba
Published 29 May, 2016 12:00am
Pakistani PhD scholar wins SKAPA award

Pakistani PhD scholar wins SKAPA award

A Pakistani PhD Scholar, Usman Haider has been awarded the most well known invention and innovation prize in Sweden, SKAPA Development Prize 2016 for his product, Exo-Skeleton, a helping device for the elderly and persons with less mobility. Governor of G
Published 29 May, 2016 12:00am
0.9 percent tax on imports: value-added textile industry criticises PRA

0.9 percent tax on imports: value-added textile industry criticises PRA

The value-added textile industry has criticised the Punjab Revenue Authority (PRA) for imposing 0.9 percent tax on imports in the province for exporting purposes. "The Punjab government is actually taxing the exports by imposing this tax on imports in Pun
Published 29 May, 2016 12:00am
CPEC to open up new vistas of prosperity: Asif

CPEC to open up new vistas of prosperity: Asif

Federal Minister for Water, Power and Defence Minister Khawaja Muhammad Asif while addressing the oath taking ceremony of newly elected office-bearers of Sialkot Press Club (SPC) on Saturday has said that CPEC would open new vistas of prosperity and devel
Published 29 May, 2016 12:00am
PML-N observes Youm-e-Takbeer

PML-N observes Youm-e-Takbeer

The ruling Pakistan Muslim League - Nawaz (PML-N), celebrated Youm-e-Takbeer to commemorate the nuclear tests conducted by Pakistan on May 28, 1998 with a renewed pledge to struggle for uplift of the country. The PML-N organised held functions in the fede
Published 29 May, 2016 12:00am
Correction

Correction

This is apropos a Business Recorder op-ed 'Chabahar port" carried by the newspaper yesterday. In the first para of the write-up it should be read as "Exim Bank of India"; not as Exim Bank of China.
Published 29 May, 2016 12:00am
Pendency in courts - a holistic solution

Pendency in courts - a holistic solution

In a recent move by the National Assembly's Standing Committee on Law and Justice, the bill introduced to increase the number of Supreme Court Judges was rejected. It is without doubt a fact that the solution to reduce the pendency in the courts is not to
Published 29 May, 2016 12:00am
French PM Valls stakes political career on union fight

French PM Valls stakes political career on union fight

Engaged in a fierce tug of war with unions and some of his own party over labour reforms, France's embattled Prime Minister Manuel Valls has staked his political career on staring down the crisis. Valls finds himself in a devilish position, says Frederic
Published 29 May, 2016 12:00am
A trend-setting national legislature

A trend-setting national legislature

In the past it was often alleged that Pakistan's Parliament has rarely shaped a trend of reforms and initiatives. The 14th National Assembly, with a string of initiatives, has defied that perception. When policymakers and think-tanks from around the world
Published 29 May, 2016 12:00am
Unhealthy environment: Poor indoor quality

Unhealthy environment: Poor indoor quality

Increasing awareness of maintaining acceptable indoor air quality in the developed world has led to marked increase in better health and productivity. However, we are lagging very far behind, causing numerous health problems and unfortunately, due to our
Published 29 May, 2016 12:00am
Nisar shouldn't insult common sense

Nisar shouldn't insult common sense

That Interior Minister Chaudhry Nisar Ali Khan grossly underestimates public intelligence is more than obvious from what he had to say at his Friday's media conference - the less said the better as to what makes him do that. Embarrassed over the disclosur
Published 29 May, 2016 12:00am
Physical versus social infrastructure

Physical versus social infrastructure

Prime Minister Nawaz Sharif during his recent spate of public meetings and inaugurations of mega projects, old as well as new, argued that the promise of naya (new) Khyber Pakhtunkhwa (KPK) made by the Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan was u
Published 29 May, 2016 12:00am
Budget 2016-17: incentives on LED lights and solar panels likely

Budget 2016-17: incentives on LED lights and solar panels likely

The government is likely to announce incentives on LED lights and solar panels in the federal budget 2016-17 aimed at saving electricity and increasing dependence on alternative energy, well-informed sources told Business Recorder. Worldwide, the L
Published 29 May, 2016 12:00am
Budget 2016-17: incentives on LED lights and solar panels likely

Budget 2016-17: incentives on LED lights and solar panels likely

The government is likely to announce incentives on LED lights and solar panels in the federal budget 2016-17 aimed at saving electricity and increasing dependence on alternative energy, well-informed sources told Business Recorder. Worldwide, the L
Published 29 May, 2016 12:00am
Budget 2016-17: incentives on LED lights and solar panels likely

Budget 2016-17: incentives on LED lights and solar panels likely

The government is likely to announce incentives on LED lights and solar panels in the federal budget 2016-17 aimed at saving electricity and increasing dependence on alternative energy, well-informed sources told Business Recorder. Worldwide, the L
Published 29 May, 2016 12:00am
Mossack Fonseca to close offices

Mossack Fonseca to close offices

The law firm at the heart of the Panama Papers revelations has decided to close its offices in the British-dependent territories of Jersey, Isle of Man and Gibraltar, the Guardian newspaper reported. Mossack Fonseca "will be ceasing operations" in those t
Published 29 May, 2016 12:00am
Mossack Fonseca to close offices

Mossack Fonseca to close offices

The law firm at the heart of the Panama Papers revelations has decided to close its offices in the British-dependent territories of Jersey, Isle of Man and Gibraltar, the Guardian newspaper reported. Mossack Fonseca "will be ceasing operations" in those t
Published 29 May, 2016 12:00am
key militant commander killed in Barkhan

key militant commander killed in Barkhan

Four terrorists including a key militant commander were killed and a huge cache of weapons were recovered in an operation conducted by security forces personnel here on Saturday. The security forces on an intelligence based tipoff regarding the presence o
Published 29 May, 2016 12:00am
key militant commander killed in Barkhan

key militant commander killed in Barkhan

Four terrorists including a key militant commander were killed and a huge cache of weapons were recovered in an operation conducted by security forces personnel here on Saturday. The security forces on an intelligence based tipoff regarding the presence o
Published 29 May, 2016 12:00am
Michelle Obama visits Pakistan Embassy in DC for first time

Michelle Obama visits Pakistan Embassy in DC for first time

In a first, United States First Lady Michelle Obama visited the Pakistan Embassy in Washington on Friday and Pakistan's Ambassador to US Jalil Abbas Jilani shared pictures of the visit on Twitter. "It was an absolute delight hosting FLOTUS at Pakistan Hou
Published 29 May, 2016 12:00am
Michelle Obama visits Pakistan Embassy in DC for first time

Michelle Obama visits Pakistan Embassy in DC for first time

In a first, United States First Lady Michelle Obama visited the Pakistan Embassy in Washington on Friday and Pakistan's Ambassador to US Jalil Abbas Jilani shared pictures of the visit on Twitter. "It was an absolute delight hosting FLOTUS at Pakistan Hou
Published 29 May, 2016 12:00am
Illegal occupation of land: Chunno Mamoo among 17 KDA officers indicted

Illegal occupation of land: Chunno Mamoo among 17 KDA officers indicted

The accountability court (AC) has formally announced indictment of Chunno Mamoo among 21 others on charges of illegal occupation of public and private land and sale of the illegally grabbed land as residential and commercial plots. However, the accused ha
Published 29 May, 2016 12:00am
Horse and goat: CJP refuses to accept unusual present by LBC

Horse and goat: CJP refuses to accept unusual present by LBC

Chief Justice Anwar Zaheer Jamali received an unusual gift on Saturday - a horse and a goat which he eventually refused to accept. The CJ was addressing the Larkana Bar Council, giving young lawyers advice on good living, self-improvement and the drawback
Published 29 May, 2016 12:00am
Awaran bomb attack: two FC officials martyred, three injured

Awaran bomb attack: two FC officials martyred, three injured

Two officials of Frontier Corps (FC) embraced martyrdom and three others injured as security forces convoy attacked with bomb here on Saturday. Security sources said that militants targeted FC convoy with improvised explosive device (IED) in Jhao area of
Published 29 May, 2016 12:00am
Awaran bomb attack: two FC officials martyred, three injured

Awaran bomb attack: two FC officials martyred, three injured

Two officials of Frontier Corps (FC) embraced martyrdom and three others injured as security forces convoy attacked with bomb here on Saturday. Security sources said that militants targeted FC convoy with improvised explosive device (IED) in Jhao area of
Published 29 May, 2016 12:00am
Max support for road building: NHA to get record Rs 190 billion

Max support for road building: NHA to get record Rs 190 billion

The Sharif administration envisages extending maximum support for road building in 2016-17 with the highest allocation under the Public Sector Development Programme for National Highway Authority (NHA) at Rs 190 billion. According to documents available w
Published 29 May, 2016 12:00am
Max support for road building: NHA to get record Rs 190 billion

Max support for road building: NHA to get record Rs 190 billion

The Sharif administration envisages extending maximum support for road building in 2016-17 with the highest allocation under the Public Sector Development Programme for National Highway Authority (NHA) at Rs 190 billion. According to documents available w
Published 29 May, 2016 12:00am
Max support for road building: NHA to get record Rs 190 billion

Max support for road building: NHA to get record Rs 190 billion

The Sharif administration envisages extending maximum support for road building in 2016-17 with the highest allocation under the Public Sector Development Programme for National Highway Authority (NHA) at Rs 190 billion. According to documents available w
Published 29 May, 2016 12:00am
FBR seeks to levy 15 percent FED on above 2700cc cars

FBR seeks to levy 15 percent FED on above 2700cc cars

The Federal Board of Revenue (FBR) has proposed 15 percent Federal Excise Duty (FED) on the import of vehicles above 2700cc in the upcoming budget (2016-17). Sources told Business Recorder here on Saturday that the government had imposed 10 percent
Published 29 May, 2016 12:00am
FBR seeks to levy 15 percent FED on above 2700cc cars

FBR seeks to levy 15 percent FED on above 2700cc cars

The Federal Board of Revenue (FBR) has proposed 15 percent Federal Excise Duty (FED) on the import of vehicles above 2700cc in the upcoming budget (2016-17). Sources told Business Recorder here on Saturday that the government had imposed 10 percent
Published 29 May, 2016 12:00am
FBR seeks to levy 15 percent FED on above 2700cc cars

FBR seeks to levy 15 percent FED on above 2700cc cars

The Federal Board of Revenue (FBR) has proposed 15 percent Federal Excise Duty (FED) on the import of vehicles above 2700cc in the upcoming budget (2016-17). Sources told Business Recorder here on Saturday that the government had imposed 10 percent
Published 29 May, 2016 12:00am
Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

The Federal Board of Revenue (FBR) has proposed a new optional regime of sales tax for tier-1 retailers by charging 2 percent sales tax of turnover without adjustment of input tax in the upcoming budget (2016-17). Sources told Business Recorder her
Published 29 May, 2016 12:00am
Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

The Federal Board of Revenue (FBR) has proposed a new optional regime of sales tax for tier-1 retailers by charging 2 percent sales tax of turnover without adjustment of input tax in the upcoming budget (2016-17). Sources told Business Recorder her
Published 29 May, 2016 12:00am
Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

Budget 2016-17: FBR proposes new GST regime for tier-1 retailers

The Federal Board of Revenue (FBR) has proposed a new optional regime of sales tax for tier-1 retailers by charging 2 percent sales tax of turnover without adjustment of input tax in the upcoming budget (2016-17). Sources told Business Recorder her
Published 29 May, 2016 12:00am
FBR agrees to certain budget recommendations of EDB

FBR agrees to certain budget recommendations of EDB

The Federal Board of Revenue (FBR) has agreed to certain budget recommendations of Engineering Development Board (EDB) for protection of the local industry and manufacturing activities in the country. Sources told Business Recorder here on Saturday
Published 29 May, 2016 12:00am
FBR agrees to certain budget recommendations of EDB

FBR agrees to certain budget recommendations of EDB

The Federal Board of Revenue (FBR) has agreed to certain budget recommendations of Engineering Development Board (EDB) for protection of the local industry and manufacturing activities in the country. Sources told Business Recorder here on Saturday
Published 29 May, 2016 12:00am
FBR agrees to certain budget recommendations of EDB

FBR agrees to certain budget recommendations of EDB

The Federal Board of Revenue (FBR) has agreed to certain budget recommendations of Engineering Development Board (EDB) for protection of the local industry and manufacturing activities in the country. Sources told Business Recorder here on Saturday
Published 29 May, 2016 12:00am
Zika fears: WHO rejects calls to move Olympics

Zika fears: WHO rejects calls to move Olympics

The World Health Organisation has ruled out any change in timing or the location of the upcoming Olympic Games in Rio de Janeiro, shunning a call by doctors and scientists to shift the games over the Zika virus. The UN health body outlined its stance in a
Published 29 May, 2016 12:00am
Zika fears: WHO rejects calls to move Olympics

Zika fears: WHO rejects calls to move Olympics

The World Health Organisation has ruled out any change in timing or the location of the upcoming Olympic Games in Rio de Janeiro, shunning a call by doctors and scientists to shift the games over the Zika virus. The UN health body outlined its stance in a
Published 29 May, 2016 12:00am
Iraq elite forces take position around Fallujah

Iraq elite forces take position around Fallujah

Iraq's counter-terrorism forces deployed on the edge of Fallujah Saturday for the first time since an operation was launched to retake the jihadist-held city, top commanders said. The counter-terrorism service (CTS), Iraq's best-trained and most battle-te
Published 29 May, 2016 12:00am
Iraq elite forces take position around Fallujah

Iraq elite forces take position around Fallujah

Iraq's counter-terrorism forces deployed on the edge of Fallujah Saturday for the first time since an operation was launched to retake the jihadist-held city, top commanders said. The counter-terrorism service (CTS), Iraq's best-trained and most battle-te
Published 29 May, 2016 12:00am
Khamenei warns of Western 'schemes' as new MPs meet

Khamenei warns of Western 'schemes' as new MPs meet

Iran's supreme leader Ayatollah Ali Khamenei urged newly-elected lawmakers Saturday to resist "schemes" from the West as parliamentarians met in Tehran for the first time since elections finished in April. "The turbulent state of the region and the world
Published 29 May, 2016 12:00am
Khamenei warns of Western 'schemes' as new MPs meet

Khamenei warns of Western 'schemes' as new MPs meet

Iran's supreme leader Ayatollah Ali Khamenei urged newly-elected lawmakers Saturday to resist "schemes" from the West as parliamentarians met in Tehran for the first time since elections finished in April. "The turbulent state of the region and the world
Published 29 May, 2016 12:00am
Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

The Public Sector Development Programme, 2016-17 of Rs 800 billion envisages Rs 76 billion for China-Pakistan Economic Corridor (CPEC) projects. The projects relating to Western Alignment under CPEC: the documents available with Business Recorder r
Published 29 May, 2016 12:00am
Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

The Public Sector Development Programme, 2016-17 of Rs 800 billion envisages Rs 76 billion for China-Pakistan Economic Corridor (CPEC) projects. The projects relating to Western Alignment under CPEC: the documents available with Business Recorder r
Published 29 May, 2016 12:00am
Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

Rs 800 billion PSDP envisages Rs 76 billion for CPEC projects

The Public Sector Development Programme, 2016-17 of Rs 800 billion envisages Rs 76 billion for China-Pakistan Economic Corridor (CPEC) projects. The projects relating to Western Alignment under CPEC: the documents available with Business Recorder r
Published 29 May, 2016 12:00am
Arab League chief denounces Israel at peace talks meeting

Arab League chief denounces Israel at peace talks meeting

Arab League chief Nabil al-Arabi blasted Israel as a bastion of "racism and fascism" on Saturday at a meeting of foreign ministers to discuss a French Middle East peace initiative. The Arab ministers are expected to adopt a resolution on the plan to reviv
Published 29 May, 2016 12:00am
Arab League chief denounces Israel at peace talks meeting

Arab League chief denounces Israel at peace talks meeting

Arab League chief Nabil al-Arabi blasted Israel as a bastion of "racism and fascism" on Saturday at a meeting of foreign ministers to discuss a French Middle East peace initiative. The Arab ministers are expected to adopt a resolution on the plan to reviv
Published 29 May, 2016 12:00am
French government keeps up tough line as petrol shortages ease

French government keeps up tough line as petrol shortages ease

The French government maintained a hard line Saturday ahead of a fresh wave of protests over a bitterly-disputed labour law that has seen demonstrators blockading oil refineries and strikes paralysing the transport network. The escalating unrest, which ha
Published 29 May, 2016 12:00am
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