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Print - 2016-06-28
Gold climbs in Asia

Gold climbs in Asia

Gold climbed on Monday, trading near a more than two-year peak reached in the previous session, as investors sought refuge in the safe-haven amid economic and political uncertainty after Britain voted to exit the European Union.
Published 28 Jun, 2016 12:00am
Gold gains in Europe
Currency

Gold gains in Europe

Gold rose on Monday, staying close to the more than two-year high hit on Friday as uncertainty over Britain's vote to leave the European Union pushed investors to sell equities and seek safer assets. Bullion surged 4.8 percent on Friday, its biggest one-d
Published 28 Jun, 2016 12:00am
Analysts expect USDA to show decline in corn and soya ratings

Analysts expect USDA to show decline in corn and soya ratings

The US Department of Agriculture's weekly crop progress report on Monday is expected to show a decline in corn and soyabean condition ratings following a week of above-average temperatures in the Midwest, a Reuters poll of analysts showed.
Published 28 Jun, 2016 12:00am
US MIDDAY: soyabeans rebound

US MIDDAY: soyabeans rebound

US soyabean futures rose on Monday, retracing a portion of last week's heavy declines as the run-up to closely watched US government crop reports put attention back on weather risks and strong export demand, analysts said. Corn futures turned mixed, erasi
Published 28 Jun, 2016 12:00am
China, Russia eye closer friendship

China, Russia eye closer friendship

This is apropos a Business Recorder news item "China, Russia eye closer friendship amid tensions with West" carried by the newspaper on Sunday. It has been reported that Chinese President Xi Jinping and his Russian counterpart Vladimir Putin have p
Published 28 Jun, 2016 12:00am
Mongolia votes with mineral riches still a distant dream

Mongolia votes with mineral riches still a distant dream

Deep in the Mongolian steppe, a gigantic hole in the ground holds billions of tonnes of riches that politicians say will fuel the transformation of the landlocked and sparsely populated country into a prosperous modern nation. But after years of missed de
Published 28 Jun, 2016 12:00am
Brexit fallout

Brexit fallout

The shock result of the British referendum to leave the European Union (EU) has had immediate effects and fallouts for Britain, the EU and the world. Uncertainty has gripped the markets ($2.1 trillion shaved off world-wide), exposed fissures in the wester
Published 28 Jun, 2016 12:00am
Report on MPI demands action

Report on MPI demands action

One initiative that the PML-N regime can fairly claim as an historic step forward is the introduction of a more refined poverty measuring yardstick - the Multidimensional Poverty Index (MPI) - by the Ministry of Planning, Development & Reforms under Profe
Published 28 Jun, 2016 12:00am
Restoring peace to Karachi

Restoring peace to Karachi

The murder of Amjad Sabri and kidnapping of the Sindh High Court Chief Justice's son, Awais Ali Shah, had lent a new sense of urgency to the ongoing security operations in Karachi. On Sunday, senior civil and military officials put their heads together to
Published 28 Jun, 2016 12:00am
SCO membership

SCO membership

Pakistan and India were accepted as full members of the Shanghai Cooperation Organisation (SCO) on 24th June after the two countries signed the memorandum of obligations thereby triggering the final process towards full membership that is expected to take
Published 28 Jun, 2016 12:00am
Financial system remains sound, stable: SBP

Financial system remains sound, stable: SBP

The financial system of Pakistan remains in a sound and stable state at the end of CY15, said a Financial Stability Review (FSR). The FSR, released by State Bank of Pakistan (SBP) on Monday, highlighted the performance of the financial sector during CY15.
Published 28 Jun, 2016 12:00am
Financial system remains sound, stable: SBP

Financial system remains sound, stable: SBP

The financial system of Pakistan remains in a sound and stable state at the end of CY15, said a Financial Stability Review (FSR). The FSR, released by State Bank of Pakistan (SBP) on Monday, highlighted the performance of the financial sector during CY15.
Published 28 Jun, 2016 12:00am
Financial system remains sound, stable: SBP

Financial system remains sound, stable: SBP

The financial system of Pakistan remains in a sound and stable state at the end of CY15, said a Financial Stability Review (FSR). The FSR, released by State Bank of Pakistan (SBP) on Monday, highlighted the performance of the financial sector during CY15.
Published 28 Jun, 2016 12:00am
Ex-Moldova PM sentenced to 9 years for graft

Ex-Moldova PM sentenced to 9 years for graft

A court in ex-Soviet Moldova on Monday sentenced former prime minister Vlad Filat to nine years in jail for corruption and abuse of office. Filat was dramatically arrested in parliament last October over allegations that included he had taken bribes worth
Published 28 Jun, 2016 12:00am
Ex-Moldova PM sentenced to 9 years for graft

Ex-Moldova PM sentenced to 9 years for graft

A court in ex-Soviet Moldova on Monday sentenced former prime minister Vlad Filat to nine years in jail for corruption and abuse of office. Filat was dramatically arrested in parliament last October over allegations that included he had taken bribes worth
Published 28 Jun, 2016 12:00am
Messi exit leaves Argentinian football in turmoil

Messi exit leaves Argentinian football in turmoil

Lionel Messi sensationally quit international football leaving Argentinian football in turmoil after a traumatic penalty shootout defeat to Chile in the Copa America final. The heartbroken Barcelona superstar left the field in tears on Sunday after missin
Published 28 Jun, 2016 12:00am
The Weather

The Weather

The weather report on Monday (June 27, 2016) and the forecast for Tuesday (June 21, 2016).

Published 28 Jun, 2016 12:00am
Messi exit leaves Argentinian football in turmoil

Messi exit leaves Argentinian football in turmoil

Lionel Messi sensationally quit international football leaving Argentinian football in turmoil after a traumatic penalty shootout defeat to Chile in the Copa America final. The heartbroken Barcelona superstar left the field in tears on Sunday after missin
Published 28 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 28 Jun, 2016 12:00am
India joins elite missile tech group controlling sale

India joins elite missile tech group controlling sale

India on Monday joined an exclusive club of countries controlling exports in missile technology, just a day after bemoaning its exclusion from another elite group that governs international nuclear fuel and technology. Foreign Secretary S. Jaishankar sign
Published 28 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 28 Jun, 2016 12:00am
India joins elite missile tech group controlling sale

India joins elite missile tech group controlling sale

India on Monday joined an exclusive club of countries controlling exports in missile technology, just a day after bemoaning its exclusion from another elite group that governs international nuclear fuel and technology. Foreign Secretary S. Jaishankar sign
Published 28 Jun, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (June 27, 2016).

Published 28 Jun, 2016 12:00am
Banks to remain open on Saturdays
Currency

Banks to remain open on Saturdays

In order to facilitate the general public, State Bank of Pakistan (SBP) has asked banks to keep open all branches on first two Saturdays of July 2016. All banks branches were supposed to open only one day (July 4, 2016) during the first ten days of July 2
Published 28 Jun, 2016 12:00am
Banks to remain open on Saturdays
Currency

Banks to remain open on Saturdays

In order to facilitate the general public, State Bank of Pakistan (SBP) has asked banks to keep open all branches on first two Saturdays of July 2016. All banks branches were supposed to open only one day (July 4, 2016) during the first ten days of July 2
Published 28 Jun, 2016 12:00am
Banks to remain open on Saturdays
Currency

Banks to remain open on Saturdays

In order to facilitate the general public, State Bank of Pakistan (SBP) has asked banks to keep open all branches on first two Saturdays of July 2016. All banks branches were supposed to open only one day (July 4, 2016) during the first ten days of July 2
Published 28 Jun, 2016 12:00am
Salaries of PSM employees: ECC likely to accord approval today

Salaries of PSM employees: ECC likely to accord approval today

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet is likely to approve two months'' salaries of the Pakistan Steel Mills (PSM) employees today (Tuesday). Sources said Finance Minister Ishaq Dar has convened a meeting to approve paymen
Published 28 Jun, 2016 12:00am
Salaries of PSM employees: ECC likely to accord approval today

Salaries of PSM employees: ECC likely to accord approval today

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet is likely to approve two months' salaries of the Pakistan Steel Mills (PSM) employees today (Tuesday). Sources said Finance Minister Ishaq Dar has convened a meeting to approve payment
Published 28 Jun, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (June 27, 2016)

Published 28 Jun, 2016 12:00am
Salaries of PSM employees: ECC likely to accord approval today

Salaries of PSM employees: ECC likely to accord approval today

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet is likely to approve two months' salaries of the Pakistan Steel Mills (PSM) employees today (Tuesday). Sources said Finance Minister Ishaq Dar has convened a meeting to approve payment
Published 28 Jun, 2016 12:00am
Nandipur plant: Nepra being pressurised to increase cost

Nandipur plant: Nepra being pressurised to increase cost

National Electric Power Regulatory Authority (Nepra) is reportedly being pressurized to increase the cost of the most expensive 425MW Nandipur Power plant by Rs 23 billion through an increase in tariff by Rs 4 per unit, well informed sources told Busin
Published 28 Jun, 2016 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (June 27, 2016).

Published 28 Jun, 2016 12:00am
Nandipur plant: Nepra being pressurised to increase cost

Nandipur plant: Nepra being pressurised to increase cost

National Electric Power Regulatory Authority (Nepra) is reportedly being pressurized to increase the cost of the most expensive 425MW Nandipur Power plant by Rs 23 billion through an increase in tariff by Rs 4 per unit, well informed sources told Busin
Published 28 Jun, 2016 12:00am
Nandipur plant: Nepra being pressurised to increase cost

Nandipur plant: Nepra being pressurised to increase cost

National Electric Power Regulatory Authority (Nepra) is reportedly being pressurized to increase the cost of the most expensive 425MW Nandipur Power plant by Rs 23 billion through an increase in tariff by Rs 4 per unit, well informed sources told Busin
Published 28 Jun, 2016 12:00am
11th review completed

11th review completed

The Executive Board of the International Monetary Fund (IMF) on June 27, 2016 completed the eleventh review of Pakistan''s economic performance under a three-year programme supported by an Extended Fund Facility (EFF) arrangement. The Executive Board''s d
Published 28 Jun, 2016 12:00am
11th review completed

11th review completed

The Executive Board of the International Monetary Fund (IMF) on June 27, 2016 completed the eleventh review of Pakistan's economic performance under a three-year programme supported by an Extended Fund Facility (EFF) arrangement. The Executive Board's dec
Published 28 Jun, 2016 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 17th June, 2016.

Published 28 Jun, 2016 12:00am
11th review completed

11th review completed

The Executive Board of the International Monetary Fund (IMF) on June 27, 2016 completed the eleventh review of Pakistan's economic performance under a three-year programme supported by an Extended Fund Facility (EFF) arrangement. The Executive Board's dec
Published 28 Jun, 2016 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 17th June, 2016.

Published 28 Jun, 2016 12:00am
PPP too files reference against PM, others

PPP too files reference against PM, others

Pakistan People's Party (PPP) on Monday filed a reference in the Election Commission of Pakistan seeking disqualification of prime minister Nawaz Sharif for "concealing" assets. The reference that PPP Secretary General Sardar Muhammad Latif Khosa filed ha
Published 28 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (June 27, 2016).

Published 28 Jun, 2016 12:00am
PPP too files reference against PM, others

PPP too files reference against PM, others

Pakistan People's Party (PPP) on Monday filed a reference in the Election Commission of Pakistan seeking disqualification of prime minister Nawaz Sharif for "concealing" assets. The reference that PPP Secretary General Sardar Muhammad Latif Khosa filed ha
Published 28 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (June 27, 2016).

Published 28 Jun, 2016 12:00am
ADB has refused to finance western route: Senate body told

ADB has refused to finance western route: Senate body told

Asian Development Bank (ADB) has refused to finance western route of the China-Pakistan Economic Corridor (CPEC) and the government will have to make alternative arrangements for the project, revealed Chairman National Highway Authority (NHA) Shahid Ashra
Published 28 Jun, 2016 12:00am
ADB has refused to finance western route: Senate body told

ADB has refused to finance western route: Senate body told

Asian Development Bank (ADB) has refused to finance western route of the China-Pakistan Economic Corridor (CPEC) and the government will have to make alternative arrangements for the project, revealed Chairman National Highway Authority (NHA) Shahid Ashra
Published 28 Jun, 2016 12:00am
ADB has refused to finance western route: Senate body told

ADB has refused to finance western route: Senate body told

Asian Development Bank (ADB) has refused to finance western route of the China-Pakistan Economic Corridor (CPEC) and the government will have to make alternative arrangements for the project, revealed Chairman National Highway Authority (NHA) Shahid Ashra
Published 28 Jun, 2016 12:00am
THE RUPEE: slight gains
Currency

THE RUPEE: slight gains

The rupee moved up against the dollar on the money market on Monday in the process of trading, dealer said. The rupee gained three paisas in terms of dollar for buying and selling at Rs 104.80 and Rs 104.81 respectively, dealer said.
Published 28 Jun, 2016 12:00am
ADB has refused to finance western route: Senate body told

ADB has refused to finance western route: Senate body told

Asian Development Bank (ADB) has refused to finance western route of the China-Pakistan Economic Corridor (CPEC) and the government will have to make alternative arrangements for the project, revealed Chairman National Highway Authority (NHA) Shahid Ashra
Published 28 Jun, 2016 12:00am
THE RUPEE: slight gains
Currency

THE RUPEE: slight gains

The rupee moved up against the dollar on the money market on Monday in the process of trading, dealer said. The rupee gained three paisas in terms of dollar for buying and selling at Rs 104.80 and Rs 104.81 respectively, dealer said.
Published 28 Jun, 2016 12:00am
Three IS members arrested in Lahore

Three IS members arrested in Lahore

Counter-terrorist police raided a building in Lahore on Sunday and arrested three men affiliated with Islamic State who were planning to attack government buildings, authorities said on Monday. The raid came as police said that the Lashkar-e-Janghvi had b
Published 28 Jun, 2016 12:00am
Three IS members arrested in Lahore

Three IS members arrested in Lahore

Counter-terrorist police raided a building in Lahore on Sunday and arrested three men affiliated with Islamic State who were planning to attack government buildings, authorities said on Monday. The raid came as police said that the Lashkar-e-Janghvi had b
Published 28 Jun, 2016 12:00am
Anti-CPEC elements: government decides to frame ''tougher'' law

Anti-CPEC elements: government decides to frame ''tougher'' law

The Interior Minister Chaudhry Nisar Ali Khan on Monday said it had been decided to frame a ''tougher'' law to deal with those who are inimical to the China-Pakistan Economic Corridor (CPEC) as such elements do not deserve to be tried under the existing l
Published 28 Jun, 2016 12:00am
Anti-CPEC elements: government decides to frame 'tougher' law

Anti-CPEC elements: government decides to frame 'tougher' law

The Interior Minister Chaudhry Nisar Ali Khan on Monday said it had been decided to frame a 'tougher' law to deal with those who are inimical to the China-Pakistan Economic Corridor (CPEC) as such elements do not deserve to be tried under the existing law
Published 28 Jun, 2016 12:00am
Anti-CPEC elements: government decides to frame 'tougher' law

Anti-CPEC elements: government decides to frame 'tougher' law

The Interior Minister Chaudhry Nisar Ali Khan on Monday said it had been decided to frame a 'tougher' law to deal with those who are inimical to the China-Pakistan Economic Corridor (CPEC) as such elements do not deserve to be tried under the existing law
Published 28 Jun, 2016 12:00am
Indo-Pak ties: Modi urges continuing 'vigilance'

Indo-Pak ties: Modi urges continuing 'vigilance'

Indian Prime Minister Narendra Modi on Monday said he valued one-one-one interactions with world leaders to let them get to know him "as I am not from a political family". When asked about India's ties with Pakistan - which had appeared to be warming befo
Published 28 Jun, 2016 12:00am
Indo-Pak ties: Modi urges continuing 'vigilance'

Indo-Pak ties: Modi urges continuing 'vigilance'

Indian Prime Minister Narendra Modi on Monday said he valued one-one-one interactions with world leaders to let them get to know him "as I am not from a political family". When asked about India's ties with Pakistan - which had appeared to be warming befo
Published 28 Jun, 2016 12:00am
Gwadar versus Chahbahar: Economics is on our side: Sartaj

Gwadar versus Chahbahar: Economics is on our side: Sartaj

Economics is on our side, stated Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz during a press briefing to editors and senior anchors at the Foreign Office. Indian Prime Minister Narendra Modi''s agreement with Iran and Afghanistan to develo
Published 28 Jun, 2016 12:00am
Gwadar versus Chahbahar: Economics is on our side: Sartaj

Gwadar versus Chahbahar: Economics is on our side: Sartaj

Economics is on our side, stated Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz during a press briefing to editors and senior anchors at the Foreign Office. Indian Prime Minister Narendra Modi's agreement with Iran and Afghanistan to develop
Published 28 Jun, 2016 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 28 Jun, 2016 12:00am
Gwadar versus Chahbahar: Economics is on our side: Sartaj

Gwadar versus Chahbahar: Economics is on our side: Sartaj

Economics is on our side, stated Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz during a press briefing to editors and senior anchors at the Foreign Office. Indian Prime Minister Narendra Modi's agreement with Iran and Afghanistan to develop
Published 28 Jun, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 28 Jun, 2016 12:00am
BRIndex30 up 4.38 points

BRIndex30 up 4.38 points

On Monday, BRIndex30 opened at 21,939.99 points. It touched an intraday high of 22,137.18 points and an intraday low of 21,899.46 points and closed at 21,944.37 points which was 4.38 points or 0.02 percent higher than previous close. Total volume was 106,
Published 28 Jun, 2016 12:00am
BRIndex30 up 4.38 points

BRIndex30 up 4.38 points

On Monday, BRIndex30 opened at 21,939.99 points. It touched an intraday high of 22,137.18 points and an intraday low of 21,899.46 points and closed at 21,944.37 points which was 4.38 points or 0.02 percent higher than previous close. Total volume was 106,
Published 28 Jun, 2016 12:00am
Stocks plummet

Stocks plummet

Pakistan Stock Exchange (PSX) closed lower on the first trading day of the week following Brexit fallout. The benchmark KSE-100 index fell sharply by 350 points to close at 37,039 points compared to 37,390 points Friday. Analysts at Topline said that afte
Published 28 Jun, 2016 12:00am
Stocks plummet

Stocks plummet

Pakistan Stock Exchange (PSX) closed lower on the first trading day of the week following Brexit fallout. The benchmark KSE-100 index fell sharply by 350 points to close at 37,039 points compared to 37,390 points Friday. Analysts at Topline said that afte
Published 28 Jun, 2016 12:00am
Stocks plummet

Stocks plummet

Pakistan Stock Exchange (PSX) closed lower on the first trading day of the week following Brexit fallout. The benchmark KSE-100 index fell sharply by 350 points to close at 37,039 points compared to 37,390 points Friday. Analysts at Topline said that afte
Published 28 Jun, 2016 12:00am
Bangladesh has stopped issuing visas to businessmen: Munir

Bangladesh has stopped issuing visas to businessmen: Munir

Chief Executive Officer (CEO), Trade Development Authority of Pakistan (TDAP) S. M. Munir revealed Monday that Bangladesh has blacklisted Pakistan and stopped issuance of visas to businessmen due to which trade with Bangladesh is almost at zero. Briefing
Published 28 Jun, 2016 12:00am
Bangladesh has stopped issuing visas to businessmen: Munir

Bangladesh has stopped issuing visas to businessmen: Munir

Chief Executive Officer (CEO), Trade Development Authority of Pakistan (TDAP) S. M. Munir revealed Monday that Bangladesh has blacklisted Pakistan and stopped issuance of visas to businessmen due to which trade with Bangladesh is almost at zero. Briefing
Published 28 Jun, 2016 12:00am
Bangladesh has stopped issuing visas to businessmen: Munir

Bangladesh has stopped issuing visas to businessmen: Munir

Chief Executive Officer (CEO), Trade Development Authority of Pakistan (TDAP) S. M. Munir revealed Monday that Bangladesh has blacklisted Pakistan and stopped issuance of visas to businessmen due to which trade with Bangladesh is almost at zero. Briefing
Published 28 Jun, 2016 12:00am
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