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Print - 2016-06-29
UK launches new online visa application system

UK launches new online visa application system

The United Kingdom on Tuesday launched its new online visa application system for its visas and immigration service. A statement from the British High Commission said the Access UK, formerly known as the Online Application Service, has been launched in Pa
Published 29 Jun, 2016 12:00am
Major power breakdown hits city after rain

Major power breakdown hits city after rain

The city witnessed major power breakdown on Tuesday night after it received first spell of monsoon season. Of the total 1400 KE's feeders, some 200 tripped, causing hours-long power shutdown in major part of the city. The rainfall and consequent feeders'
Published 29 Jun, 2016 12:00am
Literacy rate soars to 60 percent for first time: minister

Literacy rate soars to 60 percent for first time: minister

Literacy rate in Pakistan reached 60 percent for the first time in country's history, however, 6 million children (up to 5th) and 24 million (up to 12th grade) are still out of schools, which is unfortunate. This was stated by the Minister of State for Fe
Published 29 Jun, 2016 12:00am
Messi quits

Messi quits

This is apropos a news item "Messi exit leaves Argentinean football in turmoil" carried by Business Recorder yesterday. According to it, Lionel Messi sensationally has quit international football leaving Argentinean football in turmoil after a trau
Published 29 Jun, 2016 12:00am
The Weather

The Weather

The weather report on Tuesday (June 28, 2016) and the forecast for Wednesday (June 29, 2016).

Published 29 Jun, 2016 12:00am
US-UK alliance seen outweighing Brexit trade concerns

US-UK alliance seen outweighing Brexit trade concerns

The United States looks unlikely to follow through on a threat to relegate Britain to second-class trade status once its ally leaves the European Union, as it weighs the potential costs of undermining the countries' close diplomatic and military ties. Pre
Published 29 Jun, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (June 28, 2016).

Published 29 Jun, 2016 12:00am
Can Pakistan Railways be on track with underutilized tracks?

Can Pakistan Railways be on track with underutilized tracks?

When the PML-N drew up its 2013 manifesto it didn't reckon on Khawaja Saad Rafique (KSR) being entrusted with the Railways portfolio. Pakistan Railways (PR) was listed as a prime privatisation candidate, along with such other budget-drainers as Pakistan S
Published 29 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 29 Jun, 2016 12:00am
Gaming the system

Gaming the system

An Oxfam America study released in April this year found that for each dollar America's 50 biggest companies paid in federal taxes between 2008 and 2014, they received $27 back in federal loans, loan guarantees and bailouts. The same report further said t
Published 29 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 29 Jun, 2016 12:00am
Foreign policy conundrum

Foreign policy conundrum

Foreign Affairs Advisor Sartaj Aziz's briefing to journalists on Monday exuded (between the lines of course) an air of gloom and paralysis as far as Pakistan's foreign policy is concerned. The briefing naturally focused on arguably the four most important
Published 29 Jun, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (June 28, 2016).

Published 29 Jun, 2016 12:00am
IMF staff performance under EFF

IMF staff performance under EFF

The International Monetary Fund (IMF) Executive Board approved the disbursement of the second-last tranche to Pakistan under the 6.6 billion dollar extended Fund Facility. While the approval was expected as the 11th Staff review had been completed success
Published 29 Jun, 2016 12:00am
PSM employees: salaries approved by ECC

PSM employees: salaries approved by ECC

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet has approved two months'' salaries of the employees of Pakistan Steel Mills (PSM). The ECC meeting chaired by Finance Minister Ishaq Dar on Tuesday also considered a proposal of Minist
Published 29 Jun, 2016 12:00am
PSM employees: salaries approved by ECC

PSM employees: salaries approved by ECC

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet has approved two months' salaries of the employees of Pakistan Steel Mills (PSM). The ECC meeting chaired by Finance Minister Ishaq Dar on Tuesday also considered a proposal of Ministr
Published 29 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 28, 2016).

Published 29 Jun, 2016 12:00am
PSM employees: salaries approved by ECC

PSM employees: salaries approved by ECC

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet has approved two months' salaries of the employees of Pakistan Steel Mills (PSM). The ECC meeting chaired by Finance Minister Ishaq Dar on Tuesday also considered a proposal of Ministr
Published 29 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 28, 2016).

Published 29 Jun, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

Firmness prevailed on the money market on Tuesday as the rupee managed to recover slightly against the dollar in the process of trading, dealer said. The rupee gained six paisas in terms of dollar for buying and selling at Rs 104.74 and Rs 104.76 respecti
Published 29 Jun, 2016 12:00am
Isn't Qandeel a Baloch?

Isn't Qandeel a Baloch?

Civil Judge Multan, Khurshid Ahmed has admitted a petition of a lawyer Shahbaz Gurmani Baloch for hearing and summoned a model/actress Qandeel Baloch to appear before the court on July 13 to explain why she had posed herself as Baloch when she belongs to
Published 29 Jun, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

Firmness prevailed on the money market on Tuesday as the rupee managed to recover slightly against the dollar in the process of trading, dealer said. The rupee gained six paisas in terms of dollar for buying and selling at Rs 104.74 and Rs 104.76 respecti
Published 29 Jun, 2016 12:00am
Isn't Qandeel a Baloch?

Isn't Qandeel a Baloch?

Civil Judge Multan, Khurshid Ahmed has admitted a petition of a lawyer Shahbaz Gurmani Baloch for hearing and summoned a model/actress Qandeel Baloch to appear before the court on July 13 to explain why she had posed herself as Baloch when she belongs to
Published 29 Jun, 2016 12:00am
Hizbut Tahrir links: Brigadier Ali Khan released from prison

Hizbut Tahrir links: Brigadier Ali Khan released from prison

Brigadier Ali Khan (Retd) was released from Adiala jail after completing five years of rigorous imprisonment awarded by a military court for having links with a banned outfit Hizbut Tahrir, according to a private channel. Ali Khan, who was arrested in 201
Published 29 Jun, 2016 12:00am
$600 million loan programme: ADB provides $300 million for PSE reforms

$600 million loan programme: ADB provides $300 million for PSE reforms

The Asian Development Bank (ADB) has approved a $600 million loan programme, with a first sub-programme of $300 million, to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterp
Published 29 Jun, 2016 12:00am
$600 million loan programme: ADB provides $300 million for PSE reforms

$600 million loan programme: ADB provides $300 million for PSE reforms

The Asian Development Bank (ADB) has approved a $600 million loan programme, with a first sub-programme of $300 million, to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterp
Published 29 Jun, 2016 12:00am
$600 million loan programme: ADB provides $300 million for PSE reforms

$600 million loan programme: ADB provides $300 million for PSE reforms

The Asian Development Bank (ADB) has approved a $600 million loan programme, with a first sub-programme of $300 million, to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterp
Published 29 Jun, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (June 28, 2016).

Published 29 Jun, 2016 12:00am
$600 million loan programme: ADB provides $300 million for PSE reforms

$600 million loan programme: ADB provides $300 million for PSE reforms

The Asian Development Bank (ADB) has approved a $600 million loan programme, with a first sub-programme of $300 million, to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterp
Published 29 Jun, 2016 12:00am
SBP extends limits of EFS up to August 31

SBP extends limits of EFS up to August 31

In order to ensure continued export financing facility, State Bank of Pakistan (SBP) on Tuesday announced that it has extended the current limits, sanctioned in favour of banks under Part-II of the Scheme for the year 2015-16, up to August 31, 2016. Accor
Published 29 Jun, 2016 12:00am
SBP extends limits of EFS up to August 31

SBP extends limits of EFS up to August 31

In order to ensure continued export financing facility, State Bank of Pakistan (SBP) on Tuesday announced that it has extended the current limits, sanctioned in favour of banks under Part-II of the Scheme for the year 2015-16, up to August 31, 2016. Accor
Published 29 Jun, 2016 12:00am
SBP extends limits of EFS up to August 31

SBP extends limits of EFS up to August 31

In order to ensure continued export financing facility, State Bank of Pakistan (SBP) on Tuesday announced that it has extended the current limits, sanctioned in favour of banks under Part-II of the Scheme for the year 2015-16, up to August 31, 2016. Accor
Published 29 Jun, 2016 12:00am
Ali Haider Gilani breaks his silence

Ali Haider Gilani breaks his silence

Ali Haider Gilani, son of ex-premier Yousuf Raza Gilani, broke his silence about his kidnapping ordeal on Tuesday, saying he was abducted by al Qaeda, which wanted the release of some women from the family of al Qaeda leader Ayman al-Zwahiri in exchange f
Published 29 Jun, 2016 12:00am
Ali Haider Gilani breaks his silence

Ali Haider Gilani breaks his silence

Ali Haider Gilani, son of ex-premier Yousuf Raza Gilani, broke his silence about his kidnapping ordeal on Tuesday, saying he was abducted by al Qaeda, which wanted the release of some women from the family of al Qaeda leader Ayman al-Zwahiri in exchange f
Published 29 Jun, 2016 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Jun, 2016 12:00am
ECP cannot entertain references?

ECP cannot entertain references?

Election Commission of Pakistan (ECP) cannot entertain references filed by Pakistan Tehreek-e-Insaf (PTI) and Pakistan People's Party (PPP) under Article-63 (2) of the Constitution for the disqualification of the Prime Minister, Punjab Chief Minister, Ish
Published 29 Jun, 2016 12:00am
ECP cannot entertain references?

ECP cannot entertain references?

Election Commission of Pakistan (ECP) cannot entertain references filed by Pakistan Tehreek-e-Insaf (PTI) and Pakistan People's Party (PPP) under Article-63 (2) of the Constitution for the disqualification of the Prime Minister, Punjab Chief Minister, Ish
Published 29 Jun, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 Jun, 2016 12:00am
Structural reforms: progress needed to raise growth potential: IMF

Structural reforms: progress needed to raise growth potential: IMF

Continued progress with structural reforms is needed to raise Pakistan''s growth potential, stated the International Monetary Fund (IMF). The Executive Board of the IMF on Monday completed the eleventh review of Pakistan''s economic performance under a th
Published 29 Jun, 2016 12:00am
Structural reforms: progress needed to raise growth potential: IMF

Structural reforms: progress needed to raise growth potential: IMF

Continued progress with structural reforms is needed to raise Pakistan's growth potential, stated the International Monetary Fund (IMF). The Executive Board of the IMF on Monday completed the eleventh review of Pakistan's economic performance under a thre
Published 29 Jun, 2016 12:00am
Structural reforms: progress needed to raise growth potential: IMF

Structural reforms: progress needed to raise growth potential: IMF

Continued progress with structural reforms is needed to raise Pakistan's growth potential, stated the International Monetary Fund (IMF). The Executive Board of the IMF on Monday completed the eleventh review of Pakistan's economic performance under a thre
Published 29 Jun, 2016 12:00am
Transactions with Iran: Dastgir asks banks to make viable proposals

Transactions with Iran: Dastgir asks banks to make viable proposals

Federal Minister for Commerce Engr. Khurram Dastgir Khan has directed the representatives of banks to furnish viable proposals for the facilitation of banking transactions for trade with Iran within a month. The Minister was chairing a meeting with State
Published 29 Jun, 2016 12:00am
Transactions with Iran: Dastgir asks banks to make viable proposals

Transactions with Iran: Dastgir asks banks to make viable proposals

Federal Minister for Commerce Engr. Khurram Dastgir Khan has directed the representatives of banks to furnish viable proposals for the facilitation of banking transactions for trade with Iran within a month. The Minister was chairing a meeting with State
Published 29 Jun, 2016 12:00am
Transactions with Iran: Dastgir asks banks to make viable proposals

Transactions with Iran: Dastgir asks banks to make viable proposals

Federal Minister for Commerce Engr. Khurram Dastgir Khan has directed the representatives of banks to furnish viable proposals for the facilitation of banking transactions for trade with Iran within a month. The Minister was chairing a meeting with State
Published 29 Jun, 2016 12:00am
Lower exports feared
Currency

Lower exports feared

Commerce Ministry on Tuesday hinted at a possible estimate of the country''s exports, which would be around $20.9 billion in 2015-16, 12.4 per cent or $4.6 billion less than the target of $25.5 billion set in Strategic Trade Policy Framework (STPF) 2015-1
Published 29 Jun, 2016 12:00am
Lower exports feared
Currency

Lower exports feared

Commerce Ministry on Tuesday hinted at a possible estimate of the country's exports, which would be around $20.9 billion in 2015-16, 12.4 per cent or $4.6 billion less than the target of $25.5 billion set in Strategic Trade Policy Framework (STPF) 2015-18
Published 29 Jun, 2016 12:00am
Lower exports feared
Currency

Lower exports feared

Commerce Ministry on Tuesday hinted at a possible estimate of the country's exports, which would be around $20.9 billion in 2015-16, 12.4 per cent or $4.6 billion less than the target of $25.5 billion set in Strategic Trade Policy Framework (STPF) 2015-18
Published 29 Jun, 2016 12:00am
BRIndex30 sheds 22.11 points

BRIndex30 sheds 22.11 points

On Tuesday, BRIndex30 opened at 21,944.37 points. It touched an intraday high of 22,061.81 points and an intraday low of 21,741.74 points and closed at 21,922.26 points which was -22.11 points or -0.1 percent lower than previous close. Total volume was 98
Published 29 Jun, 2016 12:00am
BRIndex30 sheds 22.11 points

BRIndex30 sheds 22.11 points

On Tuesday, BRIndex30 opened at 21,944.37 points. It touched an intraday high of 22,061.81 points and an intraday low of 21,741.74 points and closed at 21,922.26 points which was -22.11 points or -0.1 percent lower than previous close. Total volume was 98
Published 29 Jun, 2016 12:00am
Stocks recover on IMF nod

Stocks recover on IMF nod

Stocks showed recovery Tuesday as investor sentiments improved on the back of what analysts said the International Monetary Fund''s nod to transfer $501 million tranche under the Extended Fund Facility (EFF). The KSE-100 index gained 37 points or 0.10 per
Published 29 Jun, 2016 12:00am
Stocks recover on IMF nod

Stocks recover on IMF nod

Stocks showed recovery Tuesday as investor sentiments improved on the back of what analysts said the International Monetary Fund's nod to transfer $501 million tranche under the Extended Fund Facility (EFF). The KSE-100 index gained 37 points or 0.10 perc
Published 29 Jun, 2016 12:00am
Stocks recover on IMF nod

Stocks recover on IMF nod

Stocks showed recovery Tuesday as investor sentiments improved on the back of what analysts said the International Monetary Fund's nod to transfer $501 million tranche under the Extended Fund Facility (EFF). The KSE-100 index gained 37 points or 0.10 perc
Published 29 Jun, 2016 12:00am
Labour leader loses confidence vote over Brexit

Labour leader loses confidence vote over Brexit

British Labour Party lawmakers voted massively against their leader on Tuesday amid political turmoil in Britain after a vote to leave the European Union as candidates to succeed Prime Minister David Cameron vied for power behind the scenes. Labour''s Jer
Published 29 Jun, 2016 12:00am
Labour leader loses confidence vote over Brexit

Labour leader loses confidence vote over Brexit

British Labour Party lawmakers voted massively against their leader on Tuesday amid political turmoil in Britain after a vote to leave the European Union as candidates to succeed Prime Minister David Cameron vied for power behind the scenes. Labour's Jere
Published 29 Jun, 2016 12:00am
Labour leader loses confidence vote over Brexit

Labour leader loses confidence vote over Brexit

British Labour Party lawmakers voted massively against their leader on Tuesday amid political turmoil in Britain after a vote to leave the European Union as candidates to succeed Prime Minister David Cameron vied for power behind the scenes. Labour's Jere
Published 29 Jun, 2016 12:00am
EU leaders tell Britain to exit swiftly, market rout halts

EU leaders tell Britain to exit swiftly, market rout halts

European leaders told Britain on Tuesday to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union, a move the IMF said could put pressure on global growth.Financial markets recovered slightly after the r
Published 29 Jun, 2016 12:00am
EU leaders tell Britain to exit swiftly, market rout halts

EU leaders tell Britain to exit swiftly, market rout halts

European leaders told Britain on Tuesday to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union, a move the IMF said could put pressure on global growth.Financial markets recovered slightly after the r
Published 29 Jun, 2016 12:00am
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