News Archives for Print - 2016-07-04

The Weather

The weather report on Sunday (July 03, 2016) and the forecast for Monday (July 04, 2016).

Published 04 Jul, 2016 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (July to December 2015)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 04 Jul, 2016 12:00am

Currency

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (June 27 to 30, 2016).

Published 04 Jul, 2016 12:00am

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 04 Jul, 2016 12:00am

BSF seizes two Pakistani boats

The Indian Border Security Force (BSF) has seized two Pakistani fishing boats from creek area at Haraminala along the Indo-Pak border but fate of fishermen is unknown, officials said. "During patrolling last evening, we seized two unclaimed boats belongin

Published 04 Jul, 2016 12:00am

Eid holidays: meeting convened to discuss expected containers backlog at ports

Customs department is going to convene a meeting with all three terminals and trade representatives on Monday (today) to avoid expected containers backlog at ports after Eid holidays.

Published 04 Jul, 2016 12:00am

'We are seeking to access the masses through innovation and technology,' CEO, Premier Insurance

From being Pakistan's first insurance company and a market leader till early 80s, due to shift in focus Premier could not retain its position over the last two decades. Now the company is again pursuing a growth strategy. This is the story of the firm

Published 04 Jul, 2016 12:00am

'We are seeking to access the masses through innovation and technology,' CEO, Premier Insurance

From being Pakistan's first insurance company and a market leader till early 80s, due to shift in focus Premier could not retain its position over the last two decades. Now the company is again pursuing a growth strategy. This is the story of the firm

Published 04 Jul, 2016 12:00am

CPEC: government decides to frame 'tougher' law

This is apropos a news item "Anti-CPEC elements: Govt decides to frame 'tougher' law" carried by Business Recorder on Tuesday. According to it, Interior Minister Chaudhry Nisar Ali Khan said it has been decided to frame a 'tougher' law to deal with

Published 04 Jul, 2016 12:00am

Mobile browser Opera Mini updated to include built-in ad blocker

The mobile browser Opera Mini is providing an integrated ad blocker since its latest update. The desktop version had already been equipped with the feature which is designed to both help pages load faster and prevent malware infections through manipulated

Published 04 Jul, 2016 12:00am

Undead: Users of iOS 10 can hide but not delete unloved Apple apps

Apple's built-in apps for the iOS 10 operating system cannot be deleted, but only hidden, the company has admitted after initial rejoicing that pre-installed but unloved apps had become optional. Apple senior vice president of Software Engineering Craig F

Published 04 Jul, 2016 12:00am

No more tyre kicking: app tech lets buyer inspect a car virtually

Developers are hailing a potential revolution in car purchasing, with shoppers soon able to step inside a new car virtually using their tablet or smartphone, without ever having to walk onto a showroom floor.

Published 04 Jul, 2016 12:00am

To speed up a computer, turn off Windows' search function

If you never really need the Windows search function, you can simply deactivate it and watch how your computer improves its system performance.

Published 04 Jul, 2016 12:00am

Google allows finger tap for verification, no more code needed

Google has simplified its 2-Step Verification process so that users no longer need to remember and type in a code on a mobile device, but can simply say OK with a tap of the finger.

Published 04 Jul, 2016 12:00am

Cotton

Statistics are sacred?

Dr Ashfaq H Khan's article in Business Recorder of 28th June needs some detailed appraisal and comment. This scribe has made an effort to clarify the basic concepts on computing nation accounts.

Published 04 Jul, 2016 12:00am

Building a stronger future for Pakistan and America

As America celebrates its Independence Day, we at the American Embassy and Consulates are pausing to reflect on the shared values of our two countries. The people of Pakistan and the United States share a fundamental desire for peace and prosperity. Worki

Published 04 Jul, 2016 12:00am

The notorious parking lot

Section 68 is a general section of the Income Tax Ordinance, 2001 that deals with the subject of determination of the fair value of assets. Under this section, taxation officers whilst determining the tax incidence of any transaction are entitled to deter

Published 04 Jul, 2016 12:00am

Emerging market status - II

In its annual review meeting the Morgan Stanley Country Index (MSCI) Board revealed that "the MSCI Pakistan Index will be reclassified to emerging markets status, coinciding with the May 2017 semi-annual index review...PSX would be inducted in the Emergin

Published 04 Jul, 2016 12:00am

Currency

SBP's third quarterly report for FY16

Third quarterly report for the year 2015-16 released by the State Bank of Pakistan on 1st July, 2016 contains an objective assessment of the economy together with policy advice in weaker areas. Another improvement this time is the avoidance of positive sp

Published 04 Jul, 2016 12:00am

NASA spaceship barrels toward Jupiter, 'planet on steroids'

Juno, an unmanned NASA spacecraft, is barrelling toward Jupiter on a $1.1 billion mission to circle the biggest planet in the solar system and shed new light on the origin of our planetary neighbourhood.

Published 04 Jul, 2016 12:00am

Facebook defends position on content standards after Israeli censure

Facebook is doing its share to remove abusive content from the social network, it said on Sunday in an apparent rejection of Israeli allegations that it was uncooperative in stemming messages that might spur Palestinian violence.

Published 04 Jul, 2016 12:00am

China eyes hunt for alien life with giant telescope

China on Sunday hoisted the final piece into position on what will be the world's largest radio telescope, which it will use to explore space and help in the hunt for extraterrestrial life, state media said. The Five-hundred-metre Aperture Spherical Teles

Published 04 Jul, 2016 12:00am

China to hold drills in South China Sea ahead of court ruling

China will hold military drills around the disputed Paracel Islands in the South China Sea, the maritime safety administration said on Sunday, ahead of a decision by an international court in a dispute between China and the Philippines.

Published 04 Jul, 2016 12:00am

Doctors again drain water from Thai king's brain

Doctors treating Thailand's ailing King Bhumibol Adulyadej have drained a fresh build-up of water on the brain, the palace said Sunday, in the latest in a series of updates of the 88-year-old's health.

Published 04 Jul, 2016 12:00am

New Zealand police bust coke horse head

New Zealand police said Sunday they have seized a record NZ$14 million (US $10 million) worth of cocaine hidden inside a large diamante-encrusted horse head from Mexico.

Published 04 Jul, 2016 12:00am

Russia finds remains of crashed firefighter plane, no survivors

Russian fire-fighters on Sunday found the remains of a crashed plane that went missing Friday with ten people on board while putting out wildfires in Siberia. The tail of the Il-76 emergencies ministry plane was found north of Irkutsk, in the region strad

Published 04 Jul, 2016 12:00am

Egypt rights watchdog criticises disappearances, torture

Egypt's human rights council said on Sunday that the authorities' human rights record had not improved, noting a string of enforced disappearances by the police and abuse of prisoners. The National Council for Human Rights, the country's official rights w

Published 04 Jul, 2016 12:00am

UAE protests US arrest, calls to avoid national dress abroad

The United Arab Emirates summoned on Sunday a senior US diplomat to protest the "abusive treatment" of a UAE citizen as it advised citizens to avoid wearing national attire abroad.

Published 04 Jul, 2016 12:00am

Horticulture products: FPCCI for adopting latest tech to enhance export

Keeping in view significant export potential in horticulture sector, particularly off-season fruits and vegetables, Federation of Chambers of Commerce and Industry (FPCCI) has demanded to adopt latest technology for enhancing export of these high-value pr

Published 04 Jul, 2016 12:00am

Peace, stability future of all provinces: Marvi

Minister of State and Chairperson, Benazir Income Support Programme, Marvi Memon arrived here on Sunday at New Pind area of the Sukkur and Shikarpur city to offer condolences on the death of martyr constable of Sindh Police Gulsher Dreho and Usman alias T

Published 04 Jul, 2016 12:00am

Eid shopping gaining momentum in Peshawar

Buyers here in provincial capital have thronged to various bazaars and markets, as Eid shopping is picking-up momentum in city with each passing day. Heavy rush of buyers are being witnessed in almost all markets and shopping arcades of the provincial cap

Published 04 Jul, 2016 12:00am

Pakistan condemns terrorist attack in Baghdad

Pakistan on Sunday strongly condemned the terrorist attack in Baghdad which resulted in heavy loss of lives. "The Government and the people of Pakistan extend their heartfelt condolences to the brotherly government and people of Iraq over the loss of inno

Published 04 Jul, 2016 12:00am

Eid congregations: around 6,000 policemen to guard worshippers in Rawalpindi

City Police has finalised a security plan for Eid-ul-Fitr congregations. Under the security plan, about 6,000 armed policemen will be deployed outside mosques, imambargahs and open places to provide security to the worshippers.

Published 04 Jul, 2016 12:00am

Chitral floods: Zardari offers condolences

Former President Asif Ali Zardari has expressed profound grief over the death of over thirty people and damages to property in flash floods in Chitral. The havoc caused by floods in Chitral has saddened the nation, he said in a statement today asking also

Published 04 Jul, 2016 12:00am

Transporters fleece passengers despite tall claims

The residents of twin cities, who are leaving to celebrate Eid-ul-Fitr with their families, are facing problems due to overcharging and overloading by intercity transporters to mint extra money.

Published 04 Jul, 2016 12:00am

Sharp increase in prices of food items ahead of Eid

A sharp increase in prices of most of essential food commodities, including pulses, vegetables, meat, sugar, is being witnessed ahead of the 'Eid-ul-Fitr'. According to survey conducted by Business Recorder here on Sunday, prices of daily use items

Published 04 Jul, 2016 12:00am

During 2015-16: MCC Islamabad makes record Rs 17.42 billion collection

Model Customs Collectorate (MCC) Islamabad has made record collection of Rs 17.42 billion during 2015-16 against the assigned target of Rs 16.16 billion, reflecting an increase of Rs 1.254 billion. It is learnt that the Collectorate of Customs Islamabad h

Published 04 Jul, 2016 12:00am

MCC KP achieves collection target

The Model Customs Collectorate (MCC) Khyber Pakhtunkhwa has achieved its target of collecting Rs 20 billion in the financial year ended June 30. According to a statement issued here on Sunday, the MCC has also surpassed the target assigned to it by the Fe

Published 04 Jul, 2016 12:00am

Air Marshal Asad Lodhi appointed Vice Chief of Air Staff

Governm-ent of Pakistan has appointed Air Marshal Asad Abdur Rehman Khan Lodhi as Vice Chief of the Air Staff, Pakistan Air Force. Lodhi was commissioned in the GD (P) Branch of Pakistan Air Force in March, 1982.

Published 04 Jul, 2016 12:00am

Dar invites South Asian FMs to attend 8th SAARC meeting

Finance Minister, Senator Mohammad Ishaq Dar has extended invitation to his counterparts in South Asian countries to attend the 8th Finance Ministers Meeting of South Asian Association for Regional Cooperation (SAARC), scheduled to be held in Islamabad on

Published 04 Jul, 2016 12:00am

Omega-3 cuts fatal heart attack risk 10 percent

Consuming foods rich in omega-3 fatty acids, such as salmon, sardines and anchovies, can reduce risk of a deadly heart attack by 10 percent, a study out Monday said. Researchers looked at blood and tissue omega-3 levels in participants of 19 studies acros

Published 04 Jul, 2016 12:00am

Signs of 'healing' ozone layer over Antarctic

The hole in the ozone layer over the Antarctic has begun to shrink, signalling good news for the environment several decades after an international accord to phase out certain pollutants, researchers said on Thursday. The study found that the September oz

Published 04 Jul, 2016 12:00am

Researchers find second 'superbug' gene in US patient

Scientists have identified a second patient in the United States infected with bacteria carrying the mcr-1 "superbug" gene, which makes bacteria highly resistant to a last-resort class of antibiotics.

Published 04 Jul, 2016 12:00am

Micro-camera can be injected with syringe

German engineers have created a camera no bigger than a grain of salt that could change the future of health imaging - and clandestine surveillance. Using 3-D printing, researchers from the University of Stuttgart built a three-lens camera, and fit it ont

Published 04 Jul, 2016 12:00am

Health officials race to prevent Congo yellow fever disaster

It is the stuff of a disaster movie: an outbreak of yellow fever in Congo's capital city, full of unvaccinated people mostly huddled together in slums with too few drains and the kind of sticky, fetid climate that mosquitoes love.

Published 04 Jul, 2016 12:00am

Rains or not, India faces drinking water crisis

As large swathes of drought-devastated India desperately wait for the monsoon rains to arrive, one village in the dry, hot north is flush with water. But this farming area's bountiful water supplies are feared contaminated with heavy metals, underscoring

Published 04 Jul, 2016 12:00am

New Zika diagnostics needed for babies: researchers

Two studies of new-borns in Zika-stricken Brazil yielded meagre clues on Wednesday about the mysterious workings of the virus, and prompted researchers to call for better tests to identify brain-damaged babies.

Published 04 Jul, 2016 12:00am

Social media, cellular phones replace Eid card culture?

Social media, phone SMSs and other source of latest technology have replaced the culture of sending Eid greeting cards to friends, loved ones and relatives on the eve of Eid-ul-Fitr. The use of E-Cards among the youth has gained popularity and trend of se

Published 04 Jul, 2016 12:00am

New version of Android crowned 'Nougat'

Google's newest mobile operating system will be called Nougat, continuing a tradition of naming Android software after sweet treats, the tech giant said Thursday. Google had invited people to send in suggestions at its annual developers conference in May,

Published 04 Jul, 2016 12:00am

Oracle told to pay HP $3 billion in chip dispute

A California jury on Thursday ordered business software giant Oracle to pay Hewlett Packard Enterprise $3 billion dollars for backing off a promise to support data servers powered by Itanium chips. Oracle said it had acted properly in the situation and th

Published 04 Jul, 2016 12:00am

New undersea cable will speed US-Japan connection

An undersea cable backed by Google and Asian companies aimed at boosting trans-Pacific broadband was put into service on Thursday, the consortium announced.

Published 04 Jul, 2016 12:00am

Apple considering Tidal music purchase

Apple is exploring the purchase of rival music streaming service Tidal, which is run by rap star Jay-Z, the Wall Street Journal reported Thursday. The paper said Apple is interested in using the company to beef-up its own year-old steaming service Apple M

Published 04 Jul, 2016 12:00am

Amazon launches upgraded Kindle e-reader

Amazon on Wednesday unveiled an upgraded Kindle, aiming to boost its e-reader sales with a thinner, lighter device at a low price. The new Kindle will be sold in the US market as low as $80, which is the same price as the version it replaces, but with mor

Published 04 Jul, 2016 12:00am

Google brings Earth into better focus

Google's free online mapping service is bringing the world into better focus with an updated version of Earth that takes advantage of photos from a US Landsat 8 satellite. The Internet giant introduced a "cloud-free mosaic" of this planet three years ago

Published 04 Jul, 2016 12:00am

Windows 10 anniversary update set for August

Microsoft on Wednesday said it will mark the one-year anniversary of Windows 10 with a major update to the software powering more than 350 million computing devices.

Published 04 Jul, 2016 12:00am

Ryanair says to shift investment away from UK after Brexit vote: WSJ

Ryanair will not deploy new planes on United Kingdom routes next year and will focus on the EU instead after Britain voted to leave the bloc, chief executive Michael O'Leary told the Wall Street Journal.

Published 04 Jul, 2016 12:00am

Abu Dhabi to merge sovereign investment funds

Abu Dhabi plans to merge state investment funds Mubadala Development Company and International Petroleum Investment Company, the emirate's state news agency said on Wednesday. The combined fund would have assets worth around $135 billion, according to Reu

Published 04 Jul, 2016 12:00am

Abu Dhabi to merge sovereign investment funds

Abu Dhabi plans to merge state investment funds Mubadala Development Company and International Petroleum Investment Company, the emirate's state news agency said on Wednesday. The combined fund would have assets worth around $135 billion, according to Reu

Published 04 Jul, 2016 12:00am

Total wins 30 percent stake in Qatar's largest oil field

French oil and gas giant Total announced on Monday that it has won a 30 percent stake in a new company operating in Qatar's largest offshore oil field. The agreement is for a joint venture with Qatar Petroleum, which holds the other 70 percent, covering t

Published 04 Jul, 2016 12:00am

Total wins 30 percent stake in Qatar's largest oil field

French oil and gas giant Total announced on Monday that it has won a 30 percent stake in a new company operating in Qatar's largest offshore oil field. The agreement is for a joint venture with Qatar Petroleum, which holds the other 70 percent, covering t

Published 04 Jul, 2016 12:00am

Mitsui aims to triple profit from energy, metals to $2 billion by 2020

Japan's Mitsui & Co plans to invest in natural resource assets, taking advantage of weak commodity prices, with an aim to more than triple its annual profit from the energy and metals segments to around $2 billion by 2020, its chief executive said.

Published 04 Jul, 2016 12:00am

Mitsui aims to triple profit from energy, metals to $2 billion by 2020

Japan's Mitsui & Co plans to invest in natural resource assets, taking advantage of weak commodity prices, with an aim to more than triple its annual profit from the energy and metals segments to around $2 billion by 2020, its chief executive said.

Published 04 Jul, 2016 12:00am

Credit Suisse CEO's superstar status loses shine

Credit Suisse Chief Executive Tidjane Thiam likes to joke he has a predilection for being under pressure. A year into the job he may have got more than he bargained for. Shares in Switzerland's second-biggest bank touched record lows in June, and have plu

Published 04 Jul, 2016 12:00am

Oracle's cloud business takes lead in Latin America

Oracle Corp is selling more cloud-based business software than traditional licensed products in Latin America, executives said on Tuesday, underscoring how remote computing has spurred demand from smaller businesses in new markets. Chief Executive Officer

Published 04 Jul, 2016 12:00am

Currency

Nike sales, forecast disappoint as Adidas gains ground

Nike Inc's quarterly revenue growth and its forecast for future orders missed analysts' estimates, underscoring the sportswear maker's struggle to fend off competition from Adidas and others, especially in its home turf of North America. While Nike still

Published 04 Jul, 2016 12:00am

Global M&A declines in second quarter as mega deals seen too risky

The value of announced mergers and acquisitions (M&A) world-wide dropped by a third in the second quarter of 2016, as a wave of transactions were abandoned in the wake of concerns over regulatory and tax risks or national security.

Published 04 Jul, 2016 12:00am

Phelps books third Rio berth with 100m fly victory

Michael Phelps booked a shot at a fourth straight 100m butterfly gold at the Rio Games on Saturday with his third triumph at the US Olympic swimming trials. Phelps, fourth at the turn, came off the wall strong and powered home to win in 51.00sec - making

Published 04 Jul, 2016 12:00am

ICC wants women's cricket at 2022 Commonwealth Games

The International Cricket Council (ICC) will apply for the inclusion of women's cricket at the 2022 Commonwealth Games in Durban, South Africa, the governing body has said. Cricket has struggled to venture into new markets away from its traditional strong

Published 04 Jul, 2016 12:00am

Gomez out of Euro 2016

Germany striker Mario Gomez has been ruled out of the rest of Euro 2016 through injury while Sami Khedira and captain Bastian Schweinsteiger are doubts for the semi-final, the German Football Federation (DFB) said Sunday.

Published 04 Jul, 2016 12:00am

Germany win shootout 6-5 to end Italy jinx

Germany defeated Italy 6-5 in a marathon shootout featuring 18 penalties to finally end their jinx against their old rivals in major tournaments and reach the Euro 2016 semi-finals on Saturday. They will now face the winners of the other quarter-final bet

Published 04 Jul, 2016 12:00am

Argentines take to streets, demand Messi return to national team

Hundreds of Argentines protested in the pouring rain on Saturday, demanding that soccer star Lionel Messi return to Argentina's national team after he unexpectedly quit following a loss in the regional Copa America final.

Published 04 Jul, 2016 12:00am

Misbah out for duck in Somerset opener

Pakistan captain Misbah-ul-Haq fell for nought in his side's opening match of their England tour against Somerset at Taunton on Sunday. At tea on the first day of this three-day fixture Pakistan were 182 for four.

Published 04 Jul, 2016 12:00am

Root and Buttler set up England win over Sri Lanka

Joe Root and Jos Buttler laid the platform for England's dominant 122-run win over Sri Lanka in the fifth and final one-day international in Cardiff on Saturday.

Published 04 Jul, 2016 12:00am

Hamilton booed after dramatic Austrian victory

Lewis Hamilton was booed on the podium after a last-lap collision with Mercedes team mate Nico Rosberg handed the triple Formula One world champion a dramatic first Austrian Grand Prix victory on Sunday.

Published 04 Jul, 2016 12:00am

Exhausted Del Potro bows out to Pouille

Juan Martin del Potro's first Wimbledon campaign for three years ended in disappointing fashion as the Argentine crumbled to a 6-7(4) 7-6(6) 7-5 6-1 defeat by Frenchman Lucas Pouille on Sunday. Trailing by two sets to one when bad light stopped the third-

Published 04 Jul, 2016 12:00am

Serena grabs 300th Slam win, Tsonga beats Isner in marathon

Serena Williams needed just 51 minutes to clinch the 300th Grand Slam win of her career on Sunday as the defending champion made the Wimbledon last 16. The 34-year-old American brushed aside Germany's world number 43 Annika Beck 6-3, 6-0 on the back of 25

Published 04 Jul, 2016 12:00am

Volkswagen says US 'Dieselgate' settlement not to be replicated in Europe

Volkswagen's CEO has rejected calls for the carmaker to compensate customers in Europe over the 'Dieselgate' emissions scandal along the lines of its $15 billion deal in the United States, telling a German newspaper a similar settlement would be inappropr

Published 04 Jul, 2016 12:00am

Kuka investor to sell 25 percent stake to Chinese bidder Midea

German mechanical engineering group Voith has decided to sell its 25.1 percent stake in robot maker Kuka to Chinese bidder Midea for about 1.2 billion euros ($1.34 billion), it said on Sunday.

Published 04 Jul, 2016 12:00am

Tax haven route won't work for post-Brexit UK: OECD

The United Kingdom is unlikely to try to lure international investment by becoming a tax haven after it leaves the European Union, according to an internal memo prepared by the body responsible for the drafting international tax rules.

Published 04 Jul, 2016 12:00am

Abu Dhabi merger to create $175 billion banking heavyweight

National Bank of Abu Dhabi and First Gulf Bank won board approval on Sunday for a merger to create a banking heavyweight with $175 billion in assets, part of the emirate's plan to revamp its economy hit by lower oil prices.

Published 04 Jul, 2016 12:00am

Kuwait to tap foreign debt markets to finance deficit

Kuwait said Sunday it plans to tap the international debt market through bond issues to finance its budget deficit after recording a first shortfall in 16 years. The oil-rich Gulf state plans to "borrow up to three billion dinars ($10 billion) in US-denom

Published 04 Jul, 2016 12:00am

Kuwait to tap foreign debt markets to finance deficit

Kuwait said Sunday it plans to tap the international debt market through bond issues to finance its budget deficit after recording a first shortfall in 16 years. The oil-rich Gulf state plans to "borrow up to three billion dinars ($10 billion) in US-denom

Published 04 Jul, 2016 12:00am

German arms exports almost doubled in 2015

German arms exports almost doubled last year to their highest level since the beginning of this century, a German newspaper said on Sunday, citing a report from the Economy Ministry that is due to be presented to the cabinet on Wednesday.

Published 04 Jul, 2016 12:00am

China to create new methods to evaluate 'new economy'

China is studying new methodologies to assess the economic contribution from industries seen as part of the "new economy", ranging from biotech firms to online retailers, a deputy head of China's statistics bureau said in speech published on Sunday.

Published 04 Jul, 2016 12:00am

Libya's rival NOC oil firms agree to merge

Libya's state energy company National Oil Corporation has agreed to merge with a rival company established in the east by one of the country's two former competing governments, the NOC said in a statement.

Published 04 Jul, 2016 12:00am

Currency

Egypt's current account deficit at $5.6 billion

Egypt's current account deficit stood at $5.549 billion in the third quarter of the 2015-16 fiscal year that began last July, versus a deficit of $4.036 billion in the same period the previous year, data from the central bank showed on Sunday. Egypt's eco

Published 04 Jul, 2016 12:00am

Israel-US consortium sinks $265 million in new gas well

A consortium led by US firm Noble Energy has approved a $265-million project to sink a new well in a major natural gas field off Israel, officials said Sunday. Delek Drilling and Avner Oil Exploration, Israeli firms that are part of the partnership led by

Published 04 Jul, 2016 12:00am

Egypt appoints new top wheat buyer as confusion over imports lingers

Egypt appointed a new head on Sunday for its state wheat-importing body - one of the most influential positions in the global wheat market - as it remains mired in a dispute over the quality of grain it will buy.

Published 04 Jul, 2016 12:00am

Saudi Arabia's first quarter economic growth slowest in three years, may near zero this year

Saudi Arabia's economy expanded at its slowest rate in three years during the first quarter of 2016 as low oil prices forced the government to cut spending and raise costs for industry, official data showed on Sunday.

Published 04 Jul, 2016 12:00am

China's Postal Savings Bank files for potential $10 billion IPO

State-owned Postal Savings Bank of China (PSBC), the country's largest bank by number of branches, has filed for a Hong Kong initial public offering (IPO) seeking to raise as much as $10 billion, Thomson Reuters IFR reported on Thursday.

Published 04 Jul, 2016 12:00am

London stock exchange shareholders vote on merger deal under Brexit cloud

Shareholders of the London Stock Exchange will vote on Monday on whether to back a $27 billion merger with Deutsche Boerse, even though the deal may have to be tweaked following Britain's decision to leave the European Union.

Published 04 Jul, 2016 12:00am

Sovereign emerging bond sales up 50 percent in 2016

Emerging market sovereigns borrowed just over $80 billion in international bond markets in the first six months of 2016, a 50 percent jump over year-ago levels, thanks to hefty new issues from Argentina and Qatar.

Published 04 Jul, 2016 12:00am

Sovereign emerging bond sales up 50 percent in 2016

Emerging market sovereigns borrowed just over $80 billion in international bond markets in the first six months of 2016, a 50 percent jump over year-ago levels, thanks to hefty new issues from Argentina and Qatar.

Published 04 Jul, 2016 12:00am

Currency

Abu Dhabi banks jump on FGB-NBAD merger details

Abu Dhabi banking shares climbed on Sunday after the boards of directors of First Gulf Bank and National Bank of Abu Dhabi approved a proposed merger of the banks, aiming to complete it in the first quarter of 2017. Egypt's index edged up following commen

Published 04 Jul, 2016 12:00am

Currency

Citi trades first naira-settled FX futures with Nigeria

Nigeria's central bank and Citibank on Wednesday executed the country's first naira-settled futures trade against the dollar, market regulator FMDQ OTC Securities Exchange said. On Monday the central bank introduced an over-the-counter futures market on t

Published 04 Jul, 2016 12:00am

Sri Lanka to impose capital gains tax on stocks

Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka's cabinet approved reintroducing a capita

Published 04 Jul, 2016 12:00am

Sri Lanka to impose capital gains tax on stocks

Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka's cabinet approved reintroducing a capita

Published 04 Jul, 2016 12:00am

Israel cabinet approves bill to make Tel Aviv stock exchange for profit

Israeli cabinet ministers on Sunday unanimously approved a bill to change the structure of the Tel Aviv Stock Exchange (TASE) to a for-profit entity. Finance Minister Moshe Kahlon last week said he would submit the bill to a cabinet vote.

Published 04 Jul, 2016 12:00am

Currency

Egypt due for another devaluation: economists

As Egypt's foreign currency shortage intensifies and the gap between official and unofficial currency rates widens, economists say another devaluation is inevitable this fiscal year.

Published 04 Jul, 2016 12:00am

Currency

Czechs sell maximum amount at first bond sale since mid-May

The Czech finance ministry sold 13 billion crowns ($532 million) in bonds at its first debt sale since the middle of May on Wednesday, hitting its planned maximum target. Investor demand stayed solid in the sale, dealers said, after the lull in borrowing

Published 04 Jul, 2016 12:00am

Currency	Rate
USD PKR Interbank Selling / Oct 4	277.65
USD PKR Interbank Buying / Oct 4	277.45
USD to Japanese Yen / Oct 5	148.70
USD to Swiss Franc / Oct 5	0.86
Pound Sterling to USD / Oct 5	1.31
Euro to USD / Oct 5	1.10

Stock	Volume
S&P 500 / Oct 5	5,751.07
India Sensex / Oct 5	81,688.45
Tokyo Nikkei / Oct 5	38,635.62
Nasdaq / Oct 5	18,137.85
Hang Seng / Oct 5	22,736.87
FTSE 100 / Oct 5	8,280.63
Dow Jones / Oct 5	42,352.75
Germany DAX 30 / Oct 5	19,120.93

Item	Value
Crude Oil USD/Barrel / Oct 5	74.38
Karachi Cotton PKR/37.32 KG / Oct 5	18,285
Gold 10 Grams PKR / Oct 5	237,401.20
Gold Spot USD/Ounce / Oct 5	2,653.60
Cotton US¢/pound / Oct 5	73.27
Petrol/Litre / Oct 6	247.03

Stock	Price
786 Invest Ltd / Oct 6 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Oct 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Oct 6 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 6 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Oct 6 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Oct 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Oct 6 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Oct 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Oct 6 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Oct 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Oct 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Oct 6 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Oct 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Oct 6 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Oct 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Oct 6 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Oct 6 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Oct 6 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Oct 6 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Oct 6 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Oct 6 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Oct 6 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Oct 6 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Oct 6 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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