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Apr 17, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-07-28
Wall Street mixed, Apple impresses and Twitter disappoints

Wall Street mixed, Apple impresses and Twitter disappoints

US stocks were mixed on Tuesday as Federal Reserve policymakers kicked off a two-day interest rate meeting and investors braced for quarterly scorecards from Apple and Twitter. Choppy stock trading followed a recent rally to consecutive record highs on th
Published 28 Jul, 2016 12:00am
Tokyo stocks jump on massive stimulus report
Currency

Tokyo stocks jump on massive stimulus report

Tokyo stocks surged Wednesday afternoon on a report that Japan's government will unveil a massive 27 trillion yen ($255 billion) stimulus package to shore up the faltering economy. The benchmark Nikkei 225 index jumped 2.68 percent, or 438.39 points, to 1
Published 28 Jul, 2016 12:00am
EU abandons budget fines against Spain, Portugal

EU abandons budget fines against Spain, Portugal

The European Commission on Wednesday backed away from slapping fines on Spain and Portugal for running high deficits, avoiding what would have been a landmark move to impose tough budget rules. Under bloc regulations, the EU executive could have imposed f
Published 28 Jul, 2016 12:00am
Falling global sales continue to dog Coca-Cola
Currency

Falling global sales continue to dog Coca-Cola

The sluggish global economy, more and healthier competition, and currency market turbulence again dragged on Coca-Cola Co's earnings in the second quarter, the company said Wednesday. Net earnings rose 10.9 percent and core earnings per share beat expecta
Published 28 Jul, 2016 12:00am
China's industrial profits rise but investment challenges grow

China's industrial profits rise but investment challenges grow

Profits earned by China's industrial firms rose 5.1 percent in June from the year earlier, the fastest growth in three months, indicating government spending is supporting the corporate sector though investment headwinds are growing. Profits in June rose
Published 28 Jul, 2016 12:00am
Twitter revenue growth stalls

Twitter revenue growth stalls

Twitter Inc reported its slowest revenue growth since going public in 2013 and set a disappointing forecast, fanning concerns that faster growing social media services will make it a niche product. The microblogging service operator's shares fell 11 perce
Published 28 Jul, 2016 12:00am
Twitter revenue growth stalls

Twitter revenue growth stalls

Twitter Inc reported its slowest revenue growth since going public in 2013 and set a disappointing forecast, fanning concerns that faster growing social media services will make it a niche product. The microblogging service operator's shares fell 11 perce
Published 28 Jul, 2016 12:00am
Australian inflation at 17-year low

Australian inflation at 17-year low

Australian consumer prices rose at the slowest annual pace since 1999 last quarter while core inflation stayed at a record trough, leaving the door open to a cut in interest rates as early as next week. The headline CPI index rose just 1.0 percent in the
Published 28 Jul, 2016 12:00am
Boeing reports $234 million loss after unexpected costs

Boeing reports $234 million loss after unexpected costs

Boeing reported a second-quarter loss Wednesday due to elevated costs for an Air Force contract and for commercial air production as it confirmed its full-year plane deliveries targets. The US aerospace giant lost $234 million for the quarter ending June
Published 28 Jul, 2016 12:00am
Boeing reports $234 million loss after unexpected costs

Boeing reports $234 million loss after unexpected costs

Boeing reported a second-quarter loss Wednesday due to elevated costs for an Air Force contract and for commercial air production as it confirmed its full-year plane deliveries targets. The US aerospace giant lost $234 million for the quarter ending June
Published 28 Jul, 2016 12:00am
Etisalat telecoms profit surge 51 percent

Etisalat telecoms profit surge 51 percent

UAE telecoms giant Etisalat announced Wednesday net profits of $625 million in the second quarter of 2016, a 51-percent jump on the same period of last year. Net profit in April-June after royalty reached 2.3 billion dirhams ($625 million), Etisalat said,
Published 28 Jul, 2016 12:00am
Etisalat telecoms profit surge 51 percent

Etisalat telecoms profit surge 51 percent

UAE telecoms giant Etisalat announced Wednesday net profits of $625 million in the second quarter of 2016, a 51-percent jump on the same period of last year. Net profit in April-June after royalty reached 2.3 billion dirhams ($625 million), Etisalat said,
Published 28 Jul, 2016 12:00am
British economy picked up speed in second quarter

British economy picked up speed in second quarter

Britain's economy picked up speed in the three months up to its vote to leave the European Union, data showed on Wednesday, helped by the biggest upturn in industrial production since 1999. Sterling was little moved on the data and few in the financial ma
Published 28 Jul, 2016 12:00am
KP government to sign clusters of schemes with FWO next month

KP government to sign clusters of schemes with FWO next month

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has revealed here in a meeting at CM House Peshawar that the provincial government was set to sign clusters of schemes with Frontier Works Organisation (FWO) on the 1st of August this year. The meeting was
Published 28 Jul, 2016 12:00am
SBP to announce MPS on Saturday

SBP to announce MPS on Saturday

The State Bank of Pakistan (SBP) will announce Monetary Policy decision on Saturday for next two months. The market is expecting another 25 basis points (bps) cut in the next monetary policy on lower inflation outlook and positive economic indicators. Ind
Published 28 Jul, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednnesday (July 27, 2016).

Published 28 Jul, 2016 12:00am
SBP to announce MPS on Saturday

SBP to announce MPS on Saturday

The State Bank of Pakistan (SBP) will announce Monetary Policy decision on Saturday for next two months. The market is expecting another 25 basis points (bps) cut in the next monetary policy on lower inflation outlook and positive economic indicators. Ind
Published 28 Jul, 2016 12:00am
SBP to announce MPS on Saturday

SBP to announce MPS on Saturday

The State Bank of Pakistan (SBP) will announce Monetary Policy decision on Saturday for next two months. The market is expecting another 25 basis points (bps) cut in the next monetary policy on lower inflation outlook and positive economic indicators. Ind
Published 28 Jul, 2016 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

Little changes were seen in the value of the rupee against the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee moved slightly against the dollar at Rs 104.85 and Rs 104.86 respectively, they said.
Published 28 Jul, 2016 12:00am
Bugti murder case: BHC rejects Musharraf's medical report

Bugti murder case: BHC rejects Musharraf's medical report

The Balochistan High Court on Wednesday rejected the medical report of former president General Pervez Musharraf during the hearing of Nawab Akbar Bugti's murder case. The court also expressed annoyance over non-appearance of Musharraf in the case. Jamil
Published 28 Jul, 2016 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

Little changes were seen in the value of the rupee against the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee moved slightly against the dollar at Rs 104.85 and Rs 104.86 respectively, they said.
Published 28 Jul, 2016 12:00am
Bugti murder case: BHC rejects Musharraf's medical report

Bugti murder case: BHC rejects Musharraf's medical report

The Balochistan High Court on Wednesday rejected the medical report of former president General Pervez Musharraf during the hearing of Nawab Akbar Bugti's murder case. The court also expressed annoyance over non-appearance of Musharraf in the case. Jamil
Published 28 Jul, 2016 12:00am
Workshop on academia-industry linkage concludes

Workshop on academia-industry linkage concludes

Academia-industry linkages are prerequisite to compete with rest of the world as it will enhance productivity and create job opportunities, said University of Agriculture Faisalabad(UAF) Vice Chancellor Professor Dr Iqrar Ahmad Khan. He was talking to the
Published 28 Jul, 2016 12:00am
Brexit risks

Brexit risks

In a joint communiqué the Group of 20, constituting an international forum of governments as well as central bankers from 20 major economies, stated that Brexit, Britain's vote to leave the European Union, heightens risks to the global economy but vowed t
Published 28 Jul, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

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

Published 28 Jul, 2016 12:00am
Change of guard

Change of guard

The Dubai meeting of the Pakistan People's Party (PPP) leadership has decided to show octogenarian Chief Minister Sindh Syed Qaim Ali Shah the door. The 'surprise' decision could have been anticipated since in recent days the air was full of speculation t
Published 28 Jul, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

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

Published 28 Jul, 2016 12:00am
VIEW POINT: The change in Sindh

VIEW POINT: The change in Sindh

While the PPP's second tier leaders have been insisting the young party Chairman, Bilawal Bhutto Zardari, is now fully in charge of the party affairs, who still is in charge is plain from the manner the Sindh chief minister has been changed. Events of the
Published 28 Jul, 2016 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednnesday (July 27, 2016).

Published 28 Jul, 2016 12:00am
The WTO dispute settlement mechanism

The WTO dispute settlement mechanism

The WTO dispute settlement mechanism allows developing countries to gain a better outcome in negotiations with the powerful trade partners, and such a judicious deal is otherwise not possible. The WTO dispute settlement process provides a guarantee for th
Published 28 Jul, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednnesday (July 27, 2016)

Published 28 Jul, 2016 12:00am
The bald man and the fly

The bald man and the fly

This is apropos a Business Recorder news item "Bin Laden compound to be turned into graveyard or playground?" carried by the newspaper on Sunday. According to it, a dispute has broken out over the future of the site where Osama bin Laden was purpor
Published 28 Jul, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

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

Published 28 Jul, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 Jul, 2016 12:00am
Everyone's cooperation a must to resolve Sindh's issues: Murad

Everyone's cooperation a must to resolve Sindh's issues: Murad

Pakistan People's Party's nominee for Chief Minister slot, Murad Ali Shah has said that assistance of every single lawmaker irrespective of his/her belonging to the government or the opposition would be required to solve issues in the province. Talking to
Published 28 Jul, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 28 Jul, 2016 12:00am
Next 90 days to be crucial for politicians: Rashid

Next 90 days to be crucial for politicians: Rashid

Awami Muslim League leader Sheikh Rashid Ahmed on Wednesday predicted coming 90 days as extremely important and can prove to be game changer in political scenario saying that Nawaz's government cannot escape Panama Leaks allegations. On his arrival in Kar
Published 28 Jul, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednnesday (July 27, 2016).

Published 28 Jul, 2016 12:00am
UAF security training programme kicks off

UAF security training programme kicks off

The University of Agriculture Faisalabad (UAF) has kicked off a six-day security training programme aimed at ensuring the foolproof security at the campus. This training is being conducted in collaboration with Education Commission (HEC) under modern univ
Published 28 Jul, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednnesday (July 27, 2016).

Published 28 Jul, 2016 12:00am
Mother says Qandeel slain by brother over taunts

Mother says Qandeel slain by brother over taunts

The mother of a celebrity murdered in a so-called 'honour' killing said her son strangled his sister after being taunted by his friends over her behaviour. The death earlier this month of starlet Qandeel Baloch, who shot to fame for her provocative selfie
Published 28 Jul, 2016 12:00am
The Weather

The Weather

The weather report on Wednnesday (July 27, 2016) and the forecast for Thursday (July 28, 2016).

Published 28 Jul, 2016 12:00am
Awareness session on Green Banking held

Awareness session on Green Banking held

A one day awareness session on Green Banking and Refinance scheme for renewable energy was held under the auspices of State Bank of Pakistan on Tuesday here. State Bank has increased its measures for the promotion and sustainable banking as a tool for add
Published 28 Jul, 2016 12:00am
Properties of Musharraf: court seeks details

Properties of Musharraf: court seeks details

The district and sessions judge of Lahore on Wednesday sought details about properties of former president General Pervez Musharraf (Retd) from Defence Housing Authority (DHA) by July 30. Earlier a Defence-A police station official appeared before the cou
Published 28 Jul, 2016 12:00am
Commodore Asad made rear admiral

Commodore Asad made rear admiral

Commodore Syed Asad Karim SI (M) has been promoted to the rank of Rear Admiral, said a statement issued by Pakistan Navy Tuesday. Rear Admiral Syed Asad Karim was commissioned in Supply Branch of Pakistan Navy in 1984. He is a graduate of National Defence
Published 28 Jul, 2016 12:00am
Four EC members take oath

Four EC members take oath

Four newly appointed Members of Election Commission Wednesday took oath of the office thereby resulting in the completion of EC and its being getting activated. The Supreme Court of Pakistan had given the federation July 27 as deadline to complete the Ele
Published 28 Jul, 2016 12:00am
Sindh Assembly meets tomorrow to elect new CM

Sindh Assembly meets tomorrow to elect new CM

The Sindh Assembly is due to meet on Friday (tomorrow) to choose a new Chief Minister for Sindh after Syed Qaim Ali Shah resigned on Wednesday. Candidates aspiring to contest for the post of chief executive of the province will submit their nomination pap
Published 28 Jul, 2016 12:00am
Equal distribution of gas: PPP submits adjournment motion in NA

Equal distribution of gas: PPP submits adjournment motion in NA

Pakistan People's Party (PPP) Wednesday submitted an adjournment motion in the National Assembly Secretariat to discuss federal government proposal of equal distribution of gas to the domestic users throughout the country. The adjournment motion was submi
Published 28 Jul, 2016 12:00am
New entrant status: Tractor industry expresses reservations

New entrant status: Tractor industry expresses reservations

The local tractor industry has expressed strong reservations to granting new entrant status to Minsk Tractor Works Pakistan to assemble model MT 510, Secretary Pakistan Association of Automotive Parts and Accessories Manufacturers told Business Recorde
Published 28 Jul, 2016 12:00am
FBR explains rationalisation, extension of super tax

FBR explains rationalisation, extension of super tax

The Federal Board of Revenue (FBR) has clarified that the taxable income for the purpose of computation of super tax on corporate sector shall be taken before the adjustment of brought forward depreciation or business losses. The FBR Wednesday explained r
Published 28 Jul, 2016 12:00am
Imported goods: FCAG chief terms levy of one percent IDC disastrous

Imported goods: FCAG chief terms levy of one percent IDC disastrous

President, Frontier Customs Agents Group (FCAG), Khyber Pakhtunkhwa and vice chairman, FPCCI standing committee on Customs Agents, Zia-ul-Haq Sarhadi has termed the levy of one percent Infrastructure Development Cess (IDC) by Khyber Pakhtunkhwa government
Published 28 Jul, 2016 12:00am
IESCO apprehends five electricity thieves

IESCO apprehends five electricity thieves

Islamabad Electric Supply Company (IESCO) apprehended 05 electricity thieves upon the special directives of Chief Executive Officer Dr Rana Abdul Jabbar Khan in different areas of IESCO Region. According to the details 02 culprits were caught red handed f
Published 28 Jul, 2016 12:00am
KCCI election: new group files nomination papers

KCCI election: new group files nomination papers

After a long time, a new group has filed nomination papers to contest Karachi Chamber of Commerce and Industry (KCCI) annual election, besides the ruling Businessmen Group (BMG) led by Siraj Kasim Teli. On the last day for filing nomination, a total of 61
Published 28 Jul, 2016 12:00am
EDB deriving sustenance from ministry

EDB deriving sustenance from ministry

The Ministry of Industries and Production (MoI&P) is supporting the Engineering Development Board (EDB) which is working without any legal cover for the last several years. According to official documents obtained from the MoI&P, on June 6, 2016, EDB's Bo
Published 28 Jul, 2016 12:00am
NA body urges government to build more hospitals in Islamabad

NA body urges government to build more hospitals in Islamabad

National Assembly Standing Committee on Cabinet Secretariat on Wednesday expressed serious concerns over poor performance and overburden of the metropolis hospitals and urged the government to build more hospitals in Islamabad. The committee met with Rana
Published 28 Jul, 2016 12:00am
Agha Steel, Danieli of Italy sign Meltshop Enhancement Project

Agha Steel, Danieli of Italy sign Meltshop Enhancement Project

Agha Steel Industries- Pakistan and Danieli - Italy have signed a contract for the Meltshop Enhancement Project. The project includes complete reconstruction of the Electric Arc Furnace (EAF) and a new Fume Treatment Plant at Agha Steel Industries, Karach
Published 28 Jul, 2016 12:00am
Tharparkar can be the wealthiest district if...

Tharparkar can be the wealthiest district if...

One-day conference on "Water Security Planning-Tharparkar" was organised by Abida Taherani Sindh Development Studies Centre, University of Sindh in collaboration with Sukaar Foundation, Water Aid Pakistan and Big Lottery Fund UK at Pir Hassamuddin Shah Ra
Published 28 Jul, 2016 12:00am
Major terror bid foiled

Major terror bid foiled

Frontier Corps (FC) Balochistan and Intelligence Agencies on Wednesday foiled a major terror bid in Quetta and Mach and arrested nine Afghans in a joint operation. According to FC spokesperson, the security forces carried out a search operation in Mach an
Published 28 Jul, 2016 12:00am
Faysal Bank launches FBL Titanium Credit Card

Faysal Bank launches FBL Titanium Credit Card

Faysal Bank Limited (FBL) on Wednesday announced to launch the "Faysal Bank Titanium Credit Card" to facilitate its customers. Fouad Farrukh head of Retail Banking, Syed Iftikhar Ul Haq head of Consumer Finance and Fahad Ullah Khan head of Unsecured Busin
Published 28 Jul, 2016 12:00am
Meezan Bank awarded 'Islamic Bank of the Year 2016' title

Meezan Bank awarded 'Islamic Bank of the Year 2016' title

Meezan Bank has been awarded as the winner of 'Pakistani Islamic Bank of the Year 2016' by The Banker, a service from the Financial Times Ltd, London that provides economic and financial intelligence for the world's financial sector. Meezan Bank has been
Published 28 Jul, 2016 12:00am
Energy sector: KATI chief concerned at rising circular debt

Energy sector: KATI chief concerned at rising circular debt

President, Korangi Association of Trade & Industry (KATI), Zahid Saeed, has said that circular debts in energy sector should not add burden on common man and industrialists. He said that after stabilising for more than half year the power sector's chronic
Published 28 Jul, 2016 12:00am
JS Bank partners with Telenor Pakistan

JS Bank partners with Telenor Pakistan

In order to develop financial products and services that meet the evolving banking needs of today's customers, JS Bank Limited has partnered with Telenor Pakistan, one of the largest 3G operators in the country. Under the agreement, JS Bank and Telenor Pa
Published 28 Jul, 2016 12:00am
JS Bank partners with Telenor Pakistan

JS Bank partners with Telenor Pakistan

In order to develop financial products and services that meet the evolving banking needs of today's customers, JS Bank Limited has partnered with Telenor Pakistan, one of the largest 3G operators in the country. Under the agreement, JS Bank and Telenor Pa
Published 28 Jul, 2016 12:00am
PMEX signs MoU with Iran Mercantile Exchange

PMEX signs MoU with Iran Mercantile Exchange

Pakistan Mercantile Exchange Limited (PMEX), the country's only multi-commodity exchange, and Iran Mercantile Exchange (IME) signed a Memorandum of Understanding (MOU) on June 30, 2016. The signing ceremony was hosted by IME in Tehran, and Ejaz Ali Shah,
Published 28 Jul, 2016 12:00am
World Bank delegation visits PITB

World Bank delegation visits PITB

A World Bank delegation led by task team leader Anna O'Donmell, made up of senior development specialist Jana El-Horr and consultant Shan Rehman visited the Punjab Information Technology Board (PITB) on Thursday where Chairman Umar Saif gave a comprehensi
Published 28 Jul, 2016 12:00am
New Hascol fleet inaugurated

New Hascol fleet inaugurated

As an extension of the company's aggressive attempt to deepen its foot prints, the new vision of the Hascol fleet was unveiled in a closed internal corporate ceremony at the Hascol ZYCO terminal, where Mumtaz Hasan Khan, Chairman & CEO, inaugurated the fi
Published 28 Jul, 2016 12:00am
Mall Road traders for implementing ban on rallies

Mall Road traders for implementing ban on rallies

Mall Road traders have demanded of the Punjab Chief Minister Muhammad Shahbaz Sharif to implement the Lahore High Court (LHC)'s ban on rallies and protests on the Mall in letter and spirit as they are suffering millions of rupees losses due to sit-ins by
Published 28 Jul, 2016 12:00am
ECP members: government accused of colluding with PPP

ECP members: government accused of colluding with PPP

The government and the Pakistan Peoples' Party (PPP) have succeeded in appointing the four Election Commission of Pakistan (ECP) members of their choice. Whether Ishaq Dar, the Prime Minister's negotiator, or Khursheed Shah colluded to appoint members of
Published 28 Jul, 2016 12:00am
Bouchard in spotlight as Muguruza withdraws

Bouchard in spotlight as Muguruza withdraws

Home-grown hero Eugenie Bouchard reached the second round of the WTA hardcourt tournament in Montreal with a dramatic three-set victory Tuesday, lending a little star-power as the event lost French Open champion Garbine Muguruza. In her past two appearanc
Published 28 Jul, 2016 12:00am
EU sets Poland three-month deadline to reverse changes to top court

EU sets Poland three-month deadline to reverse changes to top court

The European Union on Wednesday handed Poland's rightwing government a three-month deadline to reverse changes to its Constitutional Court or face sanctions for breaching EU norms on the rule of law and democracy. The move is the second step in an unprece
Published 28 Jul, 2016 12:00am
Climate change risk threatens 18 US military sites

Climate change risk threatens 18 US military sites

Rising sea levels due to hurricanes and tidal flooding intensified by climate change will put military bases along the US East Coast and Gulf Coast at risk, according to a report released on Wednesday. Nonprofit group the Union of Concerned Scientists ana
Published 28 Jul, 2016 12:00am
NE Nigeria now 'close' to famine is 'top' emergency: MSF

NE Nigeria now 'close' to famine is 'top' emergency: MSF

Northest Nigeria is "close" to famine with hundreds of thousands trapped without help, and must be declared a "top emergency" by the UN, said Medical charity Doctors Without Borders on Wednesday. The charity known by its French acronym MSF said the region
Published 28 Jul, 2016 12:00am
UN expresses alarm at looming Indonesian executions

UN expresses alarm at looming Indonesian executions

The United Nations expressed alarm Wednesday at the looming execution of 14 drug convicts in Indonesia, urging Jakarta to put an end to the "unjust" practice of capital punishment. A group of drug convicts including foreigners have been given notice of th
Published 28 Jul, 2016 12:00am
Marketplace bomb in Yemen kills 7

Marketplace bomb in Yemen kills 7

A bomb explosion on Wednesday in an open market in Yemen's oasis city of Marib killed seven people and wounded 18, security and medical sources said. The blast targeted a market selling qat, the mild narcotic leaf popular in the Arabian Peninsula country,
Published 28 Jul, 2016 12:00am
Israeli forces kill Hamas militant

Israeli forces kill Hamas militant

Israeli troops shot dead a Hamas fighter on Wednesday who the military said was responsible for an attack that killed a rabbi in a drive-by shooting in the occupied West Bank earlier this month. In a statement, the military said that security forces kille
Published 28 Jul, 2016 12:00am
US avoiding 'confrontation' in sea row: Kerry

US avoiding 'confrontation' in sea row: Kerry

US Secretary of State John Kerry on Wednesday said Washington wanted to avoid "confrontation" in the South China Sea, after an international tribunal rejected Beijing's claims to most of the waters. Kerry made the remarks after meeting with Philippine For
Published 28 Jul, 2016 12:00am
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