News Archives for Print - 2016-05-31 - Business Recorder

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Print - 2016-05-31

British PM, London mayor bury hatchet for pro-EU rally

British PM, London mayor bury hatchet for pro-EU rally

Prime Minister David Cameron put aside recent animosity with London Mayor Sadiq Khan to make a joint call Monday for Britain to stay in the European Union, as personal attacks from within his own party intensified. Cameron told a campaign event in London

Published 31 May, 2016 12:00am

Human rights monitor blasts new Greek migrant centres

Human rights monitor blasts new Greek migrant centres

New migrant centres set up to house migrants transferred from the Greek border camp of Idomeni do not meet international standards, a human rights monitor said Monday. Tineke Strik of the Council of Europe gave her assessment after visiting three new rece

Published 31 May, 2016 12:00am

Moscow's fourth airport opens despite downturn

Moscow's fourth airport opens despite downturn

Moscow's fourth international airport Zhukovsky officially opened Monday, but public transport problems and the economic recession put a damper on celebrations. Prime Minister Dmitry Medvedev opened the Zhukovsky airport about 40 kilometres south-east of

Published 31 May, 2016 12:00am

Australian killed fighting IS in Syria

Australian killed fighting IS in Syria

An Australian man has been killed in Syria fighting Islamic State jihadists, the country's third national thought to have died alongside Kurdish forces, reports said Monday. Former Australian soldier Jamie Bright, in his 40s, was named on social media as

Published 31 May, 2016 12:00am

Chief Syria opposition negotiator quits over failed peace talks

Chief Syria opposition negotiator quits over failed peace talks

Syria's opposition chief negotiator in UN-brokered peace talks has announced his resignation in what analysts said amounted to a warning the Geneva-based process was on its "last legs". Mohammed Alloush, a member of the Saudi-backed rebel group Jaish al-I

Published 31 May, 2016 12:00am

Bomb attacks kill 11 in Baghdad

Bomb attacks kill 11 in Baghdad

Three bomb blasts in and around Baghdad killed at least 11 people and wounded dozens on Monday in the latest wave of attacks to hit the Iraqi capital, police said. The deadliest attack was a car bomb blast in a market area at around 9:00 am (0600 GMT) tha

Published 31 May, 2016 12:00am

Iraq forces push into streets of IS-held Fallujah

Iraq forces push into streets of IS-held Fallujah

Iraqi forces thrust into Fallujah Monday, ushering a new urban phase in the week-old operation to retake the jihadist bastion that also raised concerns over the fate of trapped civilians. The drive to recapture the first city to be lost from government co

Published 31 May, 2016 12:00am

Big airline LATAM suspends flights to Venezuela

Big airline LATAM suspends flights to Venezuela

Latin America's biggest airline LATAM said Monday it will suspend its flights to crisis-hit Venezuela for an indefinite period, following a similar move by German carrier Lufthansa. Chile-based LATAM Airlines group and its Peruvian and Brazilian subsidiar

Published 31 May, 2016 12:00am

Four dead in Germany floods

Four dead in Germany floods

Four people died and several more were injured in southern Germany after violent storms with torrential rains caused severe flooding, authorities said on Monday. One of those killed was a 13-year-old girl who was hit by a train Sunday while seeking shelte

Published 31 May, 2016 12:00am

At least six dead in Texas floods

At least six dead in Texas floods

Six people were killed in Texas flooding as rivers burst their banks, sweeping into homes and cars, state officials said Monday. Drenching, and in many cases record-setting heavy rain in areas west of Houston, swamped the Brazos River and killed people in

Published 31 May, 2016 12:00am

All Pakistan Clerks Association: Lakho elected president of BSEK unit

All Pakistan Clerks Association: Lakho elected president of BSEK unit

Abdul Wahab Lakho has been elected as president of All Pakistan Clerks Association's Board of Secondary Education Karachi (BSEK) unit for the next two years. The other successful candidates include Salman Ahmad Khan, senior vice president, Musharaf Khan,

Published 31 May, 2016 12:00am

Collapse of Fauji Cement's silo likely to cause 40 percent output cut

Collapse of Fauji Cement's silo likely to cause 40 percent output cut

Industry observers expect a significant cement production loss as Fauji Cement Company Limited (FCCL) reported an accident that left one of the company's silos damaged on Sunday. No human loss was reported. "The Raw Meal Silo structure which contains abou

Published 31 May, 2016 12:00am

SC overturns ET decision

SC overturns ET decision

The top court on Monday set aside the Election Tribunal decision to disqualify Pakistan Muslim League-Nawaz (PML-N) Member Provincial Assembly (MPA) Muhammad Yaqoob Nadeem Sethi from PP-175 Kasur. Disposing of the plea in the matter, a three-member bench

Published 31 May, 2016 12:00am

Sindh dismayed by 'meagre' allocation in federal PSDP

Sindh dismayed by 'meagre' allocation in federal PSDP

Sindh government has expressed dismay over what it said meager allocation of Rs 12.05 billion for Sindh in the proposed Public Sector Development Programme (PSDP) of the next financial year by the federal government. Presiding over a review meeting of the

Published 31 May, 2016 12:00am

Fauji Cement Company Limited (FCCL)

Fauji Cement Company Limited (FCCL)

Fauji Cement is one of the leading manufacturers of cement in Pakistan carrying 8 percent of cement production in the sector. The company was incorporated in1992 and started production operations in 1997 with a capacity of 3,150 tons per day. The plant is

Published 31 May, 2016 12:00am

Fauji Cement Company Limited (FCCL)

Fauji Cement Company Limited (FCCL)

Fauji Cement is one of the leading manufacturers of cement in Pakistan carrying 8 percent of cement production in the sector. The company was incorporated in1992 and started production operations in 1997 with a capacity of 3,150 tons per day. The plant is

Published 31 May, 2016 12:00am

Alisha's killer remanded to police custody

Alisha's killer remanded to police custody

A local court on Monday remanded Fazal Gujar, who allegedly killed transgender Alisha, to police custody for two days. He is the prime suspect in the killing of Alisha, who had succumbed to her wounds at the Lady Reading Hospital days earlier. Gujar was a

Published 31 May, 2016 12:00am

IUCN, Baanhn Beli hold symposium on conservation of vultures

IUCN, Baanhn Beli hold symposium on conservation of vultures

The IUCN Pakistan and Baanhn Beli in collaboration with the Ministry of Climate Change Monday organised a regional symposium on conservation of vultures in Asia at a local hotel, highlighting threats to the scavengers in the region. The symposium was orga

Published 31 May, 2016 12:00am

Flag meeting of Pak-Afghan officials held at Torkham border

Flag meeting of Pak-Afghan officials held at Torkham border

A flag meeting of Pak-Afghan officials was held in Torkham on Monday to discuss implementation of restrictions on the Pak-Afghan border at Torkham. Assistant Political Agent (APA) Landi Kotal, Rahim Mehsud, Major Tauqeer and Torkham passport tehsildar Ghu

Published 31 May, 2016 12:00am

Levy of 0.9 percent duty: dry ports of Punjab observe strike

Levy of 0.9 percent duty: dry ports of Punjab observe strike

An indefinite strike has started at the dry ports of Punjab against the levy of 0.9 pc duty on import consignments by the Punjab Revenue Authority. They described it unjust and demanded uniformed taxation in all provinces. Talking to media men here, MDPT

Published 31 May, 2016 12:00am

Clearance of goods halted by agents' strike

Clearance of goods halted by agents' strike

The strike of customs clearing agents for four consecutive days against the levy of 1% Infrastructure Development Cess (IDC) by Khyber Pakhtunkhwa government had paralysed customs clearance process at Peshawar Dry Port and the number of stuck-up container

Published 31 May, 2016 12:00am

Abid leaves for London

Abid leaves for London

The State Minister for Water and Power Abid Sher Ali has left for London in order to visit Prime Minister Nawaz Sharif ahead of his open heart surgery. He is a close relative of the prime minister family and always remains on the front foot in their defen

Published 31 May, 2016 12:00am

Justice Saeeduddin takes oath as permanent SHC judge

Justice Saeeduddin takes oath as permanent SHC judge

Justice Saeeduddin Nasir on Monday took oath as permanent judge of the Sindh High Court (SHC). SHC Chief Justice Sajjad Ali Shah administered the oath to Justice Saeeduddin Nasir in the SHC premises in an oath-taking ceremony which was attended by SHC jud

Published 31 May, 2016 12:00am

Drone attack: PESA lauds solid stance of CoAS

Drone attack: PESA lauds solid stance of CoAS

Pakistan Ex-Servicemen Association (PESA) on Monday lauded the firm stance of COAS General Raheel Sharif on the US drone attack that killed Taliban leader Mullah Akhtar Mansoor. US attack on Mulla Akhtar Mansour was a well-orchestrated conspiracy against

Published 31 May, 2016 12:00am

Tameer Microfinance Bank gets first-ever Banking Awards 2016

Tameer Microfinance Bank gets first-ever Banking Awards 2016

Tameer Microfinance Bank bagged the 'Best Microfinance Bank' and the 'Bank the Un-banked' awards at the country's first ever Pakistan Banking Awards 2016, held at the Mohatta Palace, Karachi. These awards were given to banks that performed well and contri

Published 31 May, 2016 12:00am

SMS-based adult female literacy plan Over 4,000 in KP enabled to read, write

SMS-based adult female literacy plan Over 4,000 in KP enabled to read, write

"SMS based adult female literacy education program," a unique initiative of Institute of Social and Policy Sciences (I-SAPS) and Mobilink Foundation has enabled over 4,000 female villagers in eight districts of Khyber Pakhtunkhwa to read a newspaper and w

Published 31 May, 2016 12:00am

Medical field Pak-China ties set new example of cooperation

Medical field Pak-China ties set new example of cooperation

Doctors from the sister cities of Karamay and Gwadar, Pakistan co-operated to diagnose treatment for a hospital patient in the recent weeks. Dai Hui, surgical director at Karamay Central Hospital, linked up with Dr Aslam in Pakistan via video call through

Published 31 May, 2016 12:00am

SECP amends rules to minimise corporate disputes

SECP amends rules to minimise corporate disputes

The SECP has amended the Companies (General Provisions and Forms) Rules, 1985, particularly regarding transfers and further allotments of shares in the companies and has issued a notification in this regard. The amendments are aimed at minimising the grow

Published 31 May, 2016 12:00am

EOBI scam: Khursheed may be summoned by SC

EOBI scam: Khursheed may be summoned by SC

Over a matter relating to illegal appointments scam in Employees Old-Age Benefits Institution (EOBI) during 2010, the top court on Monday hinted at the possibility of summoning former Federal Minister for Labour and Manpower Syed Khursheed Shah and Secret

Published 31 May, 2016 12:00am

Speakers for forming party to represent workers

Speakers for forming party to represent workers

Speakers have stressed the need for forming a strong political party to represent workers to solve their long-lasting problems in the country. They said this while speaking to participants of HRCP discussion titled "Informal Labour in Construction Sector

Published 31 May, 2016 12:00am

6th convocation of Wah Medical College held

6th convocation of Wah Medical College held

The 6th Convocation of Wah Medical College was held on Saturday (28th May) in the Auditorium of Wah Medical College, Wah Cantt. Chairman POF Board Lieutenant General Omar Mahmood Hayat, HI(M) was the chief guest for the occasion while Professor Major Gene

Published 31 May, 2016 12:00am

SSGC gives lease of life to four Hub schools

SSGC gives lease of life to four Hub schools

Four government primary and middle schools located in Hub city in Balochistan that were recently renovated under SSGC's Corporate Social Responsibility (CSR) initiatives, were inaugurated jointly by Prince Ahmed Ali, MPA of Bela-1 and Khalid Rahman, MD, S

Published 31 May, 2016 12:00am

Arrests of workers: MQM announces six-day protests, sit-ins

Arrests of workers: MQM announces six-day protests, sit-ins

The Muttahida Qaumi Movement (MQM) on Monday announced six-day protest demonstrations and sit-ins throughout the Sindh against what they said 'arbitrarily' arrests of party workers including former Sector In-charge Hyderabad Zone Nadeem Qazi. The Co-ordin

Published 31 May, 2016 12:00am

Milk, dairy processing industry: zero-rated tax regime must be continued, PDA tells government

Milk, dairy processing industry: zero-rated tax regime must be continued, PDA tells government

Chairman, Pakistan Dairy Association (PDA), Babar Sultan, has expressed fear that the new tax policy regime will increase cost for the milk and dairy processing industry by 7 percent and increase net price of packaged milk by at least Rs 6 (per liter). Th

Published 31 May, 2016 12:00am

NAB Karachi disposes of 3,267 complaints in 2016

NAB Karachi disposes of 3,267 complaints in 2016

National Accountability Bureau (NAB), Karachi has disposed of 3267 complaints during year 2016, which is higher than the number of complaints settled in any preceding years. This was apprised by the Director General of NAB Karachi Colonel Siraj ul Naeem (

Published 31 May, 2016 12:00am

Green Enclave: Supreme Court takes suo motu notice of inordinate delay

Green Enclave: Supreme Court takes suo motu notice of inordinate delay

The project of Green Enclave was initiated in 2009 but it faced inordinate delay due to suo motu taken by Supreme Court of Pakistan. Officials of Federal Government Employees Housing Foundation (FGEHF) informed this to the Senate Standing Committee on Hou

Published 31 May, 2016 12:00am

Collection of taxes: NIFT to provide special clearing facility today

Collection of taxes: NIFT to provide special clearing facility today

In order to facilitate the collection of government duties/taxes, NIFT will provide special clearing facility on the advice of the State Bank of Pakistan on May 31, 2016 (Tuesday) at 3pm. The SBP has advised banks to keep their concerned branches open on

Published 31 May, 2016 12:00am

PIA plane lands at Karachi airport safely

PIA plane lands at Karachi airport safely

The flight PK-741 of Pakistan International Airlines (PIA) has landed at Karachi airport due to technical faults. According to details, the flight PK-741 (Islamabad - Jeddah), has caught technical faults after a brief span of its departure from Islamabad

Published 31 May, 2016 12:00am

Partly Facetious: It was merely matter of time

Partly Facetious: It was merely matter of time

"It's all a matter of time."

Published 31 May, 2016 12:00am

Centre for Rehabilitation of Child Labour, Orphan opens in Jamrud

Centre for Rehabilitation of Child Labour, Orphan opens in Jamrud

National Centre for Rehabilitation of Child Labour and Orphans was set up at Jamrud in Khyber Agency on Monday. Managing Director, Pakistan Bait Ul Mal (PBM) Barrister Abid Waheed Sheikh was chief guest at inaugural ceremony, which was attended by the eld

Published 31 May, 2016 12:00am

PAC body irked by Foreign Secretary's absence

PAC body irked by Foreign Secretary's absence

A Sub-Committee of the Public Accounts Committee (PAC) on Monday expressed displeasure over non-appearance of the Foreign Secretary in the committee and deferred the examination of the Ministry of Foreign Affairs' audit reports. The committee reviewed the

Published 31 May, 2016 12:00am

Lawmakers seek improvement in NAB law

Lawmakers seek improvement in NAB law

Parliamentarians on Monday said that efforts should be made to further improve National Accountability Bureau (NAB) ordinance instead of limiting its jurisdiction to federal government departments. Speaking at the National Assembly Standing Committee on L

Published 31 May, 2016 12:00am

IESCO arrests three power thieves

IESCO arrests three power thieves

Islamabad Electric Supply Company (IESCO) apprehended 3 electricity thieves on the special directives of Chief Executive Officer Dr Rana Abdul Jabbar Khan in different areas of IESCO Region. According to the details 2 culprits were caught red handed from

Published 31 May, 2016 12:00am

Undue relaxation to allottees: CDA initiates inquiries against officials

Undue relaxation to allottees: CDA initiates inquiries against officials

Capital Development Authority (CDA) has initiated inquiries against the officials responsible for the restoration of a plot surrendered in 1998 and making excessive payment to the allottees of another plot. As per document available with Business Recor

Published 31 May, 2016 12:00am

Four food factories sealed

Four food factories were sealed off and several food outlets fined after flouting the hygiene rules. Punjab Food Authority (PFA), Operations Director, Ayesha Mumtaz on Monday assisted by the Data Ganj Bukhsh team raided and sealed the Karachi Essence fact
Published 31 May, 2016 12:00am

'Repatriation of IDPs to be completed by 2016 end'

Khyber Pakhtunkhwa Governor Iqbal Zafar Jhagra announced here on Monday that repatriation process of the internally displaced persons (IDPs) would be completed by the end of 2016. "Effective measures are being taken for smooth return of the IDPs by the en
Published 31 May, 2016 12:00am

African& ME markets: Millat begins export of Massey Ferguson tractors

Millat Tractors Limited has started export of Massey Ferguson 300 Series tractors to Africa and Middle Eastern countries. First shipment of MF tractors manufactured by Millat in Pakistan was dispatched to Zimbabwe on May 21, 2016. The 300 Series tractors
Published 31 May, 2016 12:00am

Muneer-led team holds meeting with Russian businessmen

A delegation of Pakistani businessmen headed by S.M. Muneer, Chief Executive ?Trade Development Authority of Pakistan (TDAP) held a meeting with the officials of Bashkortoartan Chamber of Commerce and Industry, which was attended by around 80 leading busi
Published 31 May, 2016 12:00am

APTMA welcomes reintroduction of zero-rated regime

All Pakistan Textile Association (APTMA) Chairman Tariq Saud Monday appreciated timely decision of the federal government to reintroduce 'Zero Rating or No-Tax and No-Refund Regime' for the textile sector - the largest export oriented sector and contribut
Published 31 May, 2016 12:00am

Industries to face power shutdown for almost nine hours in Ramazan

Almost complete power shutdown will be observed for the industries during Ramazan as special arrangements are made to ensure smooth electricity supply to the domestic consumers at Sehri, Iftar and Taraveeh prayers, the Senate Standing Committee on Water a
Published 31 May, 2016 12:00am

Industries to face power shutdown for almost nine hours in Ramazan

Almost complete power shutdown will be observed for the industries during Ramazan as special arrangements are made to ensure smooth electricity supply to the domestic consumers at Sehri, Iftar and Taraveeh prayers, the Senate Standing Committee on Water a
Published 31 May, 2016 12:00am

KATI chief for exempting machineries, raw materials from taxes

President, Korangi Association of Trade & Industry (KATI), Zahid Saeed, has urged that government to exempt the machinery and raw materials for industrial purpose, which are not available locally, from taxes and duties. He recommends the government to als
Published 31 May, 2016 12:00am

Water Filtration Plants: Coca-Cola announces Rs 10 million support to Rotary Foundation

The Coca-Cola Company has partnered with Rotary International, Pakistan National Polio Plus Committee since 2012 with a mission to provide clean drinking water by mitigating the transmission of water borne diseases in Pakistan. At the Rotary International
Published 31 May, 2016 12:00am

Income generation KP; chief minister directs utilisation of state land

Chief Minister KP Pervez Khattak has directed heads of all provincial departments for chalking out efficient planning for the use of the unutilised land owned by their departments to increase revenue of the province to make the departments self generating
Published 31 May, 2016 12:00am

Turkish agency trains 90 teachers

Master trainers of the Turkish International Cooperation Agency have trained 90 teachers from the Technical Education and Vocational Training Authority in automotive, construction and agriculture machinery sector, it has emerged. The announcement came on
Published 31 May, 2016 12:00am

Minister explains features of Safe City Project

Punjab Law Minister Rana Sanaullah Khan has said that the Safe City Project was being launched in the five cities including Lahore, Faisalabad, Gujranwala, Rawalpindi and Multan in the first phase at a cost of Rs 35 billion. "Under the Project, whole city
Published 31 May, 2016 12:00am

Shahbaz too does it through video-link

Punjab Chief Minister Shahbaz Sharif held a four hours' long video conference from London on Monday to review forthcoming budget and salient features of Annual Development Programme. The CM while addressing the meeting through video conference, said speed
Published 31 May, 2016 12:00am

Two-day property expo attracts many people to Lahore

Pakistan's premier real estate website, Zameen.com, ended a flagship real estate event called the two-day Property Expo 2016 in Lahore which saw a massive number of 55,000 people, more than any edition of the expo, being recorded. Many members of the fede
Published 31 May, 2016 12:00am

Government urged to take steps towards tractor industry's revival

As the budget approaches, Paapam has once again raised its concern over the decline of volumes of tractors for the last 5 years and urged the government to take appropriate measures to revive this strategic industry. "Volumes have come down from over 72 t
Published 31 May, 2016 12:00am

Marksheets: KU cancels admissions of 18 students

University of Karachi on Monday cancelled admissions of some 18 students due to their forged/tampered marks sheets. In Morning Program, admissions of following students were cancelled with immediate effect: Syed Ali Hassan from Physiology, Hifza Khan from
Published 31 May, 2016 12:00am

Balochistan to be major beneficiary of CPEC: Bizenjo

Minister for Ports and Shipping Mir Hasil Khan Bizenjo has said that the so-called 'nationalist' leaders living luxurious life in London and Paris are misguiding Baloch youth. Addressing a public meeting in Panjgur, he said the Baloch people had been faci
Published 31 May, 2016 12:00am

CoAS to witness Pak-Turk joint exercise

Chief of Army Staff (CoAS) General Raheel Sharif on Monday reached Turkey on an official visit to witness Pakistan-Turkey joint exercise being conducted near Izmir. The exercise will be conducted in two phases, one on Monday late and the other on Tuesday.
Published 31 May, 2016 12:00am

New rules unveiled by SECP: listed companies must keep a check on persons having access to inside information

To check insider trading at stock exchanges, the Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for all listed companies to maintain and regularly update a register to enlist persons employed under contract or otherwise, who h
Published 31 May, 2016 12:00am

PSQCA has prepared draft Foreign Manufacturing License: DG

Director General, Pakistan Standards and Quality Control Authority (PSQCA), Muhammad Khalid Siddiq, has said that the authority has prepared a draft Foreign Manufacturing License (FML), which would shortly be approved by the Board of Directors of PSQCA fo
Published 31 May, 2016 12:00am

Agriculture Department: KP government asked to reinstate contractual employees

Announcing its reserved judgement in response to an appeal of various project employees of agriculture department of Khyber Pakhtunkhwa (KP) on Monday, the apex court ruled that no government can adopt cherry picking policy to regularise employees against
Published 31 May, 2016 12:00am

Court working hours for Ramazan

New court working hours have been announced for Ramadan, a notification said on Monday. The Chief Justice of the Lahore High Court, Ijaz ul Ahsan, announced the fresh working hours for the Lahore High Court (Principal Seat) and its benches and all civil a
Published 31 May, 2016 12:00am

Lucky Cement wins Environment, Health, Safety and Security Award

Lucky Cement Limited has received the Environment, Health, Safety and Security Award 2016. The awards were held by The Professionals Network (TPN) and supported by the Fire Protection Agency of Pakistan (FPAP) to encourage the inculcation of HSE best prac
Published 31 May, 2016 12:00am

Rabobank bearish on soyabeans, corn after supply-risk price surge

Soybean and corn traders have priced in risks from the impact of adverse weather on output in South America, and markets for the two could now face downward pressures, the chief executive of Rabobank Singapore said on Monday. Unseasonal rains in Argentina
Published 31 May, 2016 12:00am

Shanghai copper eyes five percent slide in May on stronger dollar, softer demand

Shanghai copper eased on Monday in thin trading, with the London and US bourses shut for a long weekend, and as a stronger dollar and fading Chinese demand dragged prices towards their weakest monthly showing since November. The dollar hit a one-month hig
Published 31 May, 2016 12:00am

Oil prices edge higher in thin trade; Opec eyed

Oil prices inched up toward $50 a barrel on Monday, although uncertainty ahead of an Opec producer-group meeting later in the week was expected to cap gains. The Organisation of the Petroleum Exporting Countries meets in Vienna on Thursday and most analys
Published 31 May, 2016 12:00am

Rubber rises

Benchmark Tokyo rubber futures edged higher on Monday, helped by a weaker yen after comments by Federal Reserve Chair Janet Yellen raised the prospects of a near-term US interest rate hike. "A sharp fall in the yen helped improve the market sentiment whil
Published 31 May, 2016 12:00am

Rotterdam vegetable oil prices

Monday's Rotterdam vegetable oil prices at 1600 GMT.
Published 31 May, 2016 12:00am

Rotterdam vegetable oil prices

Monday's Rotterdam vegetable oil prices at 1600 GMT.
Published 31 May, 2016 12:00am

India's soyabean area seen falling as farmers switch to pulses

Indian farmers are set to reduce the area given over to soyabeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyaoil. Soybean is the main summer-sown oilseed crop for the worl
Published 31 May, 2016 12:00am

Palm oil gains, tracking competing oils

Malaysian palm oil futures rose for a fourth session out of five on Monday, tracking competing vegetable oils and supported by a weaker ringgit. The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed up 1.6 percent at
Published 31 May, 2016 12:00am

Gold slides in Asia

Gold fell below $1,200 for the first time in more than three months on Monday, as the dollar hit its highest since end-April against the yen after US Federal Reserve chief Janet Yellen said the central bank should raise interest rates. The Fed should incr
Published 31 May, 2016 12:00am

Currency
Gold hits 3-1/2 month low in European trade

Gold fell below $1,200 for the first time since mid-February on Monday, as comments from Federal Reserve chief Janet Yellen on the likelihood of higher US interest rates sent the dollar to two-month highs. The Fed should increase interest rates in the com
Published 31 May, 2016 12:00am

Brazil sugar flows to Myanmar seen rising as Indian exports abate

Brazilian low quality white sugar flows are expected to increase to Myanmar, believed to be a gateway for sugar smuggled into China, as Indian sweetener exports fall. Surging domestic sugar prices in India mean that Indian mills will increasingly spurn th
Published 31 May, 2016 12:00am

Pemex boosts crude exports to Asia because of refining changes

Mexican state oil giant Pemex has recently ramped up oil shipments to Asia, particularly of Isthmus light crude, because of changes in blends processed by domestic refineries, senior company executives said on Tuesday. Pemex's shipments to Japan, China, I
Published 31 May, 2016 12:00am

Drone strike

US Secretary of State John Kerry has reportedly said that Afghan Taliban leader Mullah Akhtar Mansour posed a "continuing imminent threat" to US personnel in Afghanistan and to Afghans, and was a threat to peace. After his remarks, interior minister Chaud
Published 31 May, 2016 12:00am

Chinese, Japanese suitors eye $4 billion sale of CIT plane leasing unit -sources

US lender CIT Group Inc has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, including China's HNA Group, Industrial and Commercial Bank of China's ICBC Leasing, and Japan's Orix Corp, sources
Published 31 May, 2016 12:00am

A belated reckoning

An Argentinian federal court has sentenced the country's last military dictator, 88-year-old General Reynaldo Bignone, to 20 years imprisonment for kidnapping and 'disappearing' more than 100 people during the 1976-1983 dictatorship. Of this period, Bigno
Published 31 May, 2016 12:00am

Cotton
Is chaos now the lifestyle?

Compared to the GDP growth of 4.7 percent (or is it 4.2 percent?) in FY16, planners of the FY17 federal budget envisage GDP growth of 5.7 percent hoping that the output of agriculture will rise by 3.48 percent, industry by 7.69 percent and services by 5.7
Published 31 May, 2016 12:00am

Obama's Hiroshima tryst

Seventy one years ago, the world was rudely awakened to a holocaust ushered in by a horrific mushroom cloud over Hiroshima. A few days later, the mass carnage was repeated in Nagasaki. The death toll in Hiroshima alone was 130,000 people, with thousands i
Published 31 May, 2016 12:00am

Currency
Exporters' complaints

Five highest export earning sectors of the economy warned the federal government that they would launch a countrywide protest until and unless the government reinstates the zero-rated regime in the budget 2016-17 namely textiles, carpets, surgical goods,
Published 31 May, 2016 12:00am

More than 50 Afghan police killed in Helmand fighting

More than 50 Afghan police have been reported killed over the past two days in heavy fighting around the capital of the southern province of Helmand, officials said on Monday. Helmand has been the scene of major offensives over the past year by Taliban in
Published 31 May, 2016 12:00am

More than 50 Afghan police killed in Helmand fighting

More than 50 Afghan police have been reported killed over the past two days in heavy fighting around the capital of the southern province of Helmand, officials said on Monday. Helmand has been the scene of major offensives over the past year by Taliban in
Published 31 May, 2016 12:00am

EU, Berlin oppose Chinese bid for German robotics maker

Top officials in Brussels and Berlin oppose a Chinese take-over bid of German industrial robotics supplier Kuka, a newspaper reported Monday. "Kuka is a successful company in a strategic sector that is of key importance for the digital future of European
Published 31 May, 2016 12:00am

EU, Berlin oppose Chinese bid for German robotics maker

Top officials in Brussels and Berlin oppose a Chinese take-over bid of German industrial robotics supplier Kuka, a newspaper reported Monday. "Kuka is a successful company in a strategic sector that is of key importance for the digital future of European
Published 31 May, 2016 12:00am

EU, Berlin oppose Chinese bid for German robotics maker

Top officials in Brussels and Berlin oppose a Chinese take-over bid of German industrial robotics supplier Kuka, a newspaper reported Monday. "Kuka is a successful company in a strategic sector that is of key importance for the digital future of European
Published 31 May, 2016 12:00am

The Weather

The weather report on Monday (May 30, 2016) and the forecast for Tuesday (May 31, 2016).

Published 31 May, 2016 12:00am

Presidential address: Opposition devising strategy

Opposition political parties are mulling a joint strategy under the umbrella of combined opposition in relation to the address of President Mamnoon Hussain to a joint sitting of Parliament on Wednesday (June 01). Talking to Business Recorder, parli
Published 31 May, 2016 12:00am

LME official prices

The following were Friday official prices.

Published 31 May, 2016 12:00am

Presidential address: Opposition devising strategy

Opposition political parties are mulling a joint strategy under the umbrella of combined opposition in relation to the address of President Mamnoon Hussain to a joint sitting of Parliament on Wednesday (June 01). Talking to Business Recorder, parli
Published 31 May, 2016 12:00am

LME official prices

The following were Friday official prices.

Published 31 May, 2016 12:00am

Indian minister moots plan to deliver Ganges water by post

Devout Hindus may soon receive water from the River Ganges by post, a minister said Monday, as India moves to tap booming e-commerce platforms. Many Hindus believe the water from the River Ganges has the power to wash away their sins and religious ceremon
Published 31 May, 2016 12:00am

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 30, 2016).

Published 31 May, 2016 12:00am

Indian minister moots plan to deliver Ganges water by post

Devout Hindus may soon receive water from the River Ganges by post, a minister said Monday, as India moves to tap booming e-commerce platforms. Many Hindus believe the water from the River Ganges has the power to wash away their sins and religious ceremon
Published 31 May, 2016 12:00am

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 30, 2016).

Published 31 May, 2016 12:00am

SCLL-ORIX merger approved by SECP

The Securities and Exchange Commission of Pakistan (SECP) has approved the merger of Standard Chartered Leasing Limited (SCLL) and Orix Leasing Pakistan Limited (ORIX), said a stock filing Monday. Submitted on March 18 to the apex regulator, the amalgamat
Published 31 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

142.19

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 19

5,713.64

Nasdaq / Sep 19

18,013.98

FTSE 100 / Sep 19

8,328.72

Dow Jones / Sep 19

42,025.19

Germany DAX 30 / Sep 19

19,002.38

France CAC40 / Sep 19

7,615.41

India Sensex / Sep 20

83,711.40

Tokyo Nikkei / Sep 20

37,879.54

Item Value

Gold 10 Grams PKR / Sep 19

230,195

Crude Oil USD/Barrel / Sep 20

71.80

Karachi Cotton PKR/37.32 KG / Sep 20

18,935

Gold Spot USD/Ounce / Sep 20

2,599.47

Cotton US¢/pound / Sep 20

73.42

Petrol/Litre / Sep 21

249.10

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

Markets →

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

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

Two Pakistani female peacekeepers honoured

FY2025 to FY29: External debt maturity estimated to be over $100bn

Pakistan long-term partner, but policy is to deny support to its long-range ballistic missile programme: US

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

State of economy signals tougher times ahead

‘The Review’ of SBP: Timely realization of IMF lending to help revive inflows

KSE-100 retreats after briefly hitting record high of 82,000

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