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Print - 2016-09-23
FBR issues Inland Revenue Welfare Fund Rules 2016

FBR issues Inland Revenue Welfare Fund Rules 2016

The Federal Board of Revenue (FBR) has established a Central Inland Revenue Welfare Fund for IR employees, which can be utilized for personal loans, renovations and repairs of Government residences, purchase/repair of vehicles, subsidy/financial assistanc
Published 23 Sep, 2016 12:00am
Around 2,000 Afghan families repatriated via Torkham

Around 2,000 Afghan families repatriated via Torkham

Around, 2000 Afghan families repatriated to their country, Afghanistan via Torkham border on Thursday. The United Nation High Commission for Refugees (UNHCR) official in Torkham office said that 500 registered and 1500 un-registered families residing in d
Published 23 Sep, 2016 12:00am
Three-day anti-polio campaign from September 26

Three-day anti-polio campaign from September 26

A province-wide three-day anti-polio campaign will start on September 26 to immunize more than 5.6 million children under the age of five. Coordinator EOC Akbar Khan said this while chairing a high level meeting here at Emergency Operations Center to revi
Published 23 Sep, 2016 12:00am
Reduction in price of urea fertilizer: Ministry to seek ECC's approval

Reduction in price of urea fertilizer: Ministry to seek ECC's approval

Ministry of Industries and Production has decided to seek approval of the Economic Coordination Committee (ECC) of the Cabinet for further reduction in price of urea fertilizer to off load 1.5 million tons stock. Senior Joint Secretary Arif Ibrahim inform
Published 23 Sep, 2016 12:00am
Number of 3G and 4G users reaches 32.7 million: PTA

Number of 3G and 4G users reaches 32.7 million: PTA

The number of 3G and 4G users in Pakistan has reached to 32.7 million by end of August, revealed latest figures issued by the Pakistan Telecommunication Authority (PTA) on Thursday. Mobilink tops the list with 10.41 million 3G users followed by Telenor wi
Published 23 Sep, 2016 12:00am
Urban areas: Loadshedding will be reduced from June: Dar

Urban areas: Loadshedding will be reduced from June: Dar

Finance Minister Ishaq Dar said Thursday loadshedding to the urban areas will be reduced from June next fiscal year to three hours and in rural areas to four hours. Addressing a function of Young Doctors Association at PIMS, he said the government was wor
Published 23 Sep, 2016 12:00am
KP Governor for promotion of research-based education

KP Governor for promotion of research-based education

KP Governor Iqbal Zafar Jhagra has said that research based education should be promoted for effective education system. He stated this during a meeting with the Vice Chancellor of Gomal University D.I Khan, Professor Dr Muhammad Sarwar here at Governor H
Published 23 Sep, 2016 12:00am
US Consul General pays homage to Quaid-e-Azam

US Consul General pays homage to Quaid-e-Azam

US Consul General in Karachi Grace Shelton visited the mausoleum of Quaid-e-Azam Muhammad Ali Jinnah and paid her respects to the founder of Pakistan. Consul General Grace laid a floral wreath at the mausoleum and signed the guestbook on behalf of the US
Published 23 Sep, 2016 12:00am
Aleppo set ablaze ahead of fresh diplomatic efforts

Aleppo set ablaze ahead of fresh diplomatic efforts

Huge blazes erupted in Syria's Aleppo as the city was rocked by fighting and air strikes Thursday, ahead of last-ditch efforts by world powers to salvage a failed ceasefire. Key players in the Syrian peace process were to meet in New York later Thursday,
Published 23 Sep, 2016 12:00am
German lawmakers ratify Paris climate accord

German lawmakers ratify Paris climate accord

Germany's lower of house of parliament on Thursday ratified the Paris agreement on climate change, following in the footsteps of 60 other countries that have committed to the landmark agreement designed to stem the planet's rising temperatures. Lawmakers
Published 23 Sep, 2016 12:00am
Nepal landslide kills four including Spanish trekker

Nepal landslide kills four including Spanish trekker

A Spanish trekker and three Nepali guides were killed and six others injured Thursday when a landslide hit their route in western Nepal, an official said. An overnight downpour sent mud and stones hurtling down the slopes along the popular Manaslu route i
Published 23 Sep, 2016 12:00am
Soliciting foreign investment

Soliciting foreign investment

Finance Minister Ishaq Dar may sometime be overconfident or indulge in self-praise but always accords high priority to the interests of the country. In his latest visit to France, he did not go for shopping or sight-seeing but preferred to woo French inve
Published 23 Sep, 2016 12:00am
Offshore companies in the Bahamas: FBR to issue notices to owners

Offshore companies in the Bahamas: FBR to issue notices to owners

Following the directives of Finance Minister Ishaq Dar, the Federal Board of Revenue (FBR) has started the process of issuance of notices and investigation of tax records of owners of offshore companies in the Bahamas. Sources told Business Recorder </
Published 23 Sep, 2016 12:00am
Offshore companies in the Bahamas: FBR to issue notices to owners

Offshore companies in the Bahamas: FBR to issue notices to owners

Following the directives of Finance Minister Ishaq Dar, the Federal Board of Revenue (FBR) has started the process of issuance of notices and investigation of tax records of owners of offshore companies in the Bahamas. Sources told Business Recorder </
Published 23 Sep, 2016 12:00am
Offshore companies in the Bahamas: FBR to issue notices to owners

Offshore companies in the Bahamas: FBR to issue notices to owners

Following the directives of Finance Minister Ishaq Dar, the Federal Board of Revenue (FBR) has started the process of issuance of notices and investigation of tax records of owners of offshore companies in the Bahamas. Sources told Business Recorder </
Published 23 Sep, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 23 Sep, 2016 12:00am
EU seeks 'clarification' from former top official

EU seeks 'clarification' from former top official

The EU on Thursday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office. The European Commission, the EU's executive arm, was responding a
Published 23 Sep, 2016 12:00am
EU seeks 'clarification' from former top official

EU seeks 'clarification' from former top official

The EU on Thursday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office. The European Commission, the EU's executive arm, was responding a
Published 23 Sep, 2016 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 23 Sep, 2016 12:00am
EU seeks ''clarification'' from former top official

EU seeks ''clarification'' from former top official

The EU on Thursday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office. The European Commission, the EU''s executive arm, was responding
Published 23 Sep, 2016 12:00am
Board Meetings
Cotton

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Sep, 2016 12:00am
EU seeks ''''clarification'''' from former top official

EU seeks ''''clarification'''' from former top official

The EU on Thursday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office. The European Commission, the EU''''s executive arm, was respondin
Published 23 Sep, 2016 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 23 Sep, 2016 12:00am
Afghanistan inks peace deal with Hekmatyar

Afghanistan inks peace deal with Hekmatyar

Afghanistan Thursday signed a peace agreement with notorious warlord Gulbuddin Hekmatyar, paving the way for him to make a political comeback despite a history of war crimes and after years in hiding. Hekmatyar, who heads the now largely dormant Hezb-i-Is
Published 23 Sep, 2016 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Sep, 2016 12:00am
Afghanistan inks peace deal with Hekmatyar

Afghanistan inks peace deal with Hekmatyar

Afghanistan Thursday signed a peace agreement with notorious warlord Gulbuddin Hekmatyar, paving the way for him to make a political comeback despite a history of war crimes and after years in hiding. Hekmatyar, who heads the now largely dormant Hezb-i-Is
Published 23 Sep, 2016 12:00am
CoAS confirms death sentence of 7 terrorists

CoAS confirms death sentence of 7 terrorists

Chief of Army Staff (CoAS) General Raheel Sharif on Thursday confirmed death sentence of seven terrorists. According to ISPR statement, the Military Courts had awarded death sentence to the most wanted terrorists. The convicted terrorists were involved in
Published 23 Sep, 2016 12:00am
CoAS confirms death sentence of 7 terrorists

CoAS confirms death sentence of 7 terrorists

Chief of Army Staff (CoAS) General Raheel Sharif on Thursday confirmed death sentence of seven terrorists. According to ISPR statement, the Military Courts had awarded death sentence to the most wanted terrorists. The convicted terrorists were involved in
Published 23 Sep, 2016 12:00am
World Bank wouldn't comment

World Bank wouldn't comment

"We do not comment on government statements, comments," stated a World Bank representative when asked by Business Recorder to comment on the State Bank of Pakistan (SBP) refuting a claim made in a report that $4.9 billion dollars were remitted to I
Published 23 Sep, 2016 12:00am
World Bank wouldn't comment

World Bank wouldn't comment

"We do not comment on government statements, comments," stated a World Bank representative when asked by Business Recorder to comment on the State Bank of Pakistan (SBP) refuting a claim made in a report that $4.9 billion dollars were remitted to I
Published 23 Sep, 2016 12:00am
World Bank wouldn''t comment

World Bank wouldn''t comment

"We do not comment on government statements, comments," stated a World Bank representative when asked by Business Recorder to comment on the State Bank of Pakistan (SBP) refuting a claim made in a report that $4.9 billion dollars were remitted to I
Published 23 Sep, 2016 12:00am
Opposition 'minister' among 12 dead in Syria bombing

Opposition 'minister' among 12 dead in Syria bombing

A "minister" in Syria's opposition government was among at least 12 people killed in a car bomb attack in the south of the country on Thursday, the body's spokesman said. The Islamic State group (IS) claimed the attack in a statement on Telegram, saying o
Published 23 Sep, 2016 12:00am
Bidding dispute: case takes new turn

Bidding dispute: case takes new turn

Litigation over bidding process for construction of Dasu Hydropower Project main civil works of Stage-I on the Indus River took a new turn on Thursday when the Supreme Court gave an option to M/s Power Construction Corporation of China Limited (PCCCL) to
Published 23 Sep, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Bidding dispute: case takes new turn

Bidding dispute: case takes new turn

Litigation over bidding process for construction of Dasu Hydropower Project main civil works of Stage-I on the Indus River took a new turn on Thursday when the Supreme Court gave an option to M/s Power Construction Corporation of China Limited (PCCCL) to
Published 23 Sep, 2016 12:00am
Bidding dispute: case takes new turn

Bidding dispute: case takes new turn

Litigation over bidding process for construction of Dasu Hydropower Project main civil works of Stage-I on the Indus River took a new turn on Thursday when the Supreme Court gave an option to M/s Power Construction Corporation of China Limited (PCCCL) to
Published 23 Sep, 2016 12:00am
CM defers recovery of STS from cable operators

CM defers recovery of STS from cable operators

Sindh Chief Minister Syed Murad Ali Shah has deferred the collection of sales tax on services (STS) from Cable Operators Association of Pakistan ( CAP) in the larger interest of people of Sindh using cable service. He took this decision during his meeting
Published 23 Sep, 2016 12:00am
CM defers recovery of STS from cable operators

CM defers recovery of STS from cable operators

Sindh Chief Minister Syed Murad Ali Shah has deferred the collection of sales tax on services (STS) from Cable Operators Association of Pakistan ( CAP) in the larger interest of people of Sindh using cable service. He took this decision during his meeting
Published 23 Sep, 2016 12:00am
CM defers recovery of STS from cable operators

CM defers recovery of STS from cable operators

Sindh Chief Minister Syed Murad Ali Shah has deferred the collection of sales tax on services (STS) from Cable Operators Association of Pakistan ( CAP) in the larger interest of people of Sindh using cable service. He took this decision during his meeting
Published 23 Sep, 2016 12:00am
THE RUPEE: falling trend
Currency

THE RUPEE: falling trend

The rupee gave up overnight gains against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed three paisas versus the dollar for buying and selling at Rs 104.79 and 104.81 respectively, dealer said.
Published 23 Sep, 2016 12:00am
Fired Gambian minister flees to Sweden

Fired Gambian minister flees to Sweden

Gambia's fired interior minister Ousman Sonko has fled to Sweden where he has applied for a residency permit, Sweden's Migration Agency said Thursday. "A man with that name has applied for a residency permit," spokeswoman Irene Sokolow told AFP, confirmin
Published 23 Sep, 2016 12:00am
THE RUPEE: falling trend
Currency

THE RUPEE: falling trend

The rupee gave up overnight gains against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed three paisas versus the dollar for buying and selling at Rs 104.79 and 104.81 respectively, dealer said.
Published 23 Sep, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Dar chairs meeting on operationalization of EXIM Bank

Dar chairs meeting on operationalization of EXIM Bank

Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting on operationalization of EXIM Bank. Governor State Bank, Ashraf Mehmood Wathra also attended the meeting. The EXIM Bank of Pakistan has been incorporated with SECP on June 11, 2015
Published 23 Sep, 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 Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Dar chairs meeting on operationalization of EXIM Bank

Dar chairs meeting on operationalization of EXIM Bank

Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting on operationalization of EXIM Bank. Governor State Bank, Ashraf Mehmood Wathra also attended the meeting. The EXIM Bank of Pakistan has been incorporated with SECP on June 11, 2015
Published 23 Sep, 2016 12:00am
Dar chairs meeting on operationalization of EXIM Bank

Dar chairs meeting on operationalization of EXIM Bank

Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting on operationalization of EXIM Bank. Governor State Bank, Ashraf Mehmood Wathra also attended the meeting. The EXIM Bank of Pakistan has been incorporated with SECP on June 11, 2015
Published 23 Sep, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (September 22, 2016)

Published 23 Sep, 2016 12:00am
Obama-era surveillance worse than Stasi: Oliver Stone

Obama-era surveillance worse than Stasi: Oliver Stone

US film director Oliver Stone on Thursday accused President Barack Obama's administration of implementing a surveillance system worse than that of the feared Stasi secret police in East Germany. Speaking at the San Sebastian film festival in northern Spai
Published 23 Sep, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Iran desirous of becoming part of CPEC

Iran desirous of becoming part of CPEC

Prime Minister Nawaz Sharif on Wednesday discussed with Iranian President Hassan Rouhani possibilities for bilateral co-operation in the field of energy, especially oil, gas and electricity. President Rouhani lauded the vision of the Prime Minister for tr
Published 23 Sep, 2016 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 23 Sep, 2016 12:00am
Iran desirous of becoming part of CPEC

Iran desirous of becoming part of CPEC

Prime Minister Nawaz Sharif on Wednesday discussed with Iranian President Hassan Rouhani possibilities for bilateral co-operation in the field of energy, especially oil, gas and electricity. President Rouhani lauded the vision of the Prime Minister for tr
Published 23 Sep, 2016 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 23 Sep, 2016 12:00am
Iran desirous of becoming part of CPEC

Iran desirous of becoming part of CPEC

Prime Minister Nawaz Sharif on Wednesday discussed with Iranian President Hassan Rouhani possibilities for bilateral co-operation in the field of energy, especially oil, gas and electricity. President Rouhani lauded the vision of the Prime Minister for tr
Published 23 Sep, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (September 22, 2016).

Published 23 Sep, 2016 12:00am
Yahoo hack hit 500 million users, likely 'state sponsored'

Yahoo hack hit 500 million users, likely 'state sponsored'

Yahoo said Thursday a massive attack on its network in 2014 accessed data from at least 500 million users and may have been "state sponsored." "Based on the ongoing investigation, Yahoo believes that information associated with at least 500 million user a
Published 23 Sep, 2016 12:00am
The Weather

The Weather

The weather report on Thursday (September 22, 2016) and the forecast for Friday (September 23, 2016).

Published 23 Sep, 2016 12:00am
Yahoo hack hit 500 million users, likely 'state sponsored'

Yahoo hack hit 500 million users, likely 'state sponsored'

Yahoo said Thursday a massive attack on its network in 2014 accessed data from at least 500 million users and may have been "state sponsored." "Based on the ongoing investigation, Yahoo believes that information associated with at least 500 million user a
Published 23 Sep, 2016 12:00am
Yahoo hack hit 500 million users, likely ''state sponsored''

Yahoo hack hit 500 million users, likely ''state sponsored''

Yahoo said Thursday a massive attack on its network in 2014 accessed data from at least 500 million users and may have been "state sponsored." "Based on the ongoing investigation, Yahoo believes that information associated with at least 500 million user a
Published 23 Sep, 2016 12:00am
'19 dead' in clashes with IS in Libya's Sirte

'19 dead' in clashes with IS in Libya's Sirte

Ten jihadists and nine pro-government fighters died in clashes Thursday around the last positions of the Islamic State group in the Libyan coastal city of Sirte, medical and military sources said. "Our forces are advancing on the last holdouts of Daesh" i
Published 23 Sep, 2016 12:00am
'19 dead' in clashes with IS in Libya's Sirte

'19 dead' in clashes with IS in Libya's Sirte

Ten jihadists and nine pro-government fighters died in clashes Thursday around the last positions of the Islamic State group in the Libyan coastal city of Sirte, medical and military sources said. "Our forces are advancing on the last holdouts of Daesh" i
Published 23 Sep, 2016 12:00am
Egypt migrant shipwreck death toll rises to 55

Egypt migrant shipwreck death toll rises to 55

Rescuers brought more bodies ashore Thursday after a boat crowded with migrants capsized off the Egyptian coast, leaving at least 55 people dead and dozens missing. Survivors said up to 450 migrants had been aboard the fishing vessel when it sank on Wedne
Published 23 Sep, 2016 12:00am
Egypt migrant shipwreck death toll rises to 55

Egypt migrant shipwreck death toll rises to 55

Rescuers brought more bodies ashore Thursday after a boat crowded with migrants capsized off the Egyptian coast, leaving at least 55 people dead and dozens missing. Survivors said up to 450 migrants had been aboard the fishing vessel when it sank on Wedne
Published 23 Sep, 2016 12:00am
Oil rises more on US crude draw, pares gains on Opec doubt

Oil rises more on US crude draw, pares gains on Opec doubt

Oil prices rallied again on Thursday, boosted for a second day by US government data that showed a surprising crude inventory drop, but crude futures pared gains as traders worried that Opec was not nearing an agreement to reduce a global glut. Oil prices
Published 23 Sep, 2016 12:00am
Cotton surges, profit-booking limits gains
Cotton

Cotton surges, profit-booking limits gains

Cotton futures edged higher on Thursday to a six-week high, supported by a weaker dollar and strong exports sales data, but gains were capped as traders cashed in on this week's rally. The second month December contract on ICE Futures was on track for the
Published 23 Sep, 2016 12:00am
Khattak for completion of solarization of tube-well programme

Khattak for completion of solarization of tube-well programme

KP Chief Minister Pervez Khattak has directed the concerned authorities to ensure completion of the solarization of tube well programme in accordance with the international standards with main focus on transparency and quality. He expressed these views wh
Published 23 Sep, 2016 12:00am
Road dualization: PAC questions Rs 5.9 billion allocation to NLC

Road dualization: PAC questions Rs 5.9 billion allocation to NLC

The Public Accounts Committee (PAC) on Thursday questioned the allocation of Rs 5.9 billion to the National Logistic Cell (NLC) for dualization of a road against a Memorandum of Understanding (MOU) on simple paper. Convener Sardar Ashiq Gopang chaired the
Published 23 Sep, 2016 12:00am
Bomb recovered in Khuzdar

Bomb recovered in Khuzdar

The Frontier Corps (FC) foiled a terror bid and recovered a bomb planted by roadside here on Thursday. Spokesman of FC said that paramilitary troops over report of suspicious material reached the scene and recovered bomb planted by roadside at National Hi
Published 23 Sep, 2016 12:00am
Shoaib Mir appointed as SLIC chairman

Shoaib Mir appointed as SLIC chairman

Shoaib Mir appointed as Chairman State Life Insurance Corporation of Pakistan. According to notification no. PF(422)E-5(PAS) of the Establishment Division, Cabinet Secretariat, Government of Pakistan, Islamabad senior officer of PS-21 Shoaib Mir, Addition
Published 23 Sep, 2016 12:00am
Danish envoy calls on Bilawal

Danish envoy calls on Bilawal

Ambassador of Denmark, Jesper Moller Sorensen called on Chairman Pakistan People's Party(PPP) Bilawal Bhutto Zardari at Bilawal House here on Thursday. The Chairman and the Ambassador discussed matters of mutual interests and Denmark's cooperation in ener
Published 23 Sep, 2016 12:00am
Sindh Assembly passes bill to reinstate sacked government employees

Sindh Assembly passes bill to reinstate sacked government employees

Despite opposition, the treasury members in Sindh Assembly on Thursday voted a bill into law to reinstate the retrenched government employees with all perks and benefits and retrospective effect, during the Sindh Assembly session on Thursday. With the pas
Published 23 Sep, 2016 12:00am
R&D projects needed in field of agriculture: KATI president

R&D projects needed in field of agriculture: KATI president

President Korangi Association of Trade and Industry (KATI) Zahid Saeed has said that research and development (R&D) projects are needed in the field of agriculture because increasing import of food items in an agricultural country such as Pakistan is a ma
Published 23 Sep, 2016 12:00am
Balochistan Wheels posts Rs 153.272 million PAT

Balochistan Wheels posts Rs 153.272 million PAT

The profit after tax of Balochistan Wheels Limited has increased to Rs 153.272 million in the year ended June 30, 2016 as compared to Rs 95.936 million earned in previous year. The company's earning per share surged to Rs 11.49 against Rs 7.19. The Board
Published 23 Sep, 2016 12:00am
Balochistan Wheels posts Rs 153.272 million PAT

Balochistan Wheels posts Rs 153.272 million PAT

The profit after tax of Balochistan Wheels Limited has increased to Rs 153.272 million in the year ended June 30, 2016 as compared to Rs 95.936 million earned in previous year. The company's earning per share surged to Rs 11.49 against Rs 7.19. The Board
Published 23 Sep, 2016 12:00am