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Nov 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-10-06
Rubber surges

Rubber surges

Benchmark Tokyo rubber futures surged to a 1-1/2-week high on Wednesday on the back of higher oil prices and the yen's fall against the US dollar. The Tokyo Commodity Exchange (TOCOM) rubber contract for March delivery finished 4.6 yen, or 2.8 percent, hi
Published 06 Oct, 2016 12:00am
Palm oil charts sharpest drop in a week

Palm oil charts sharpest drop in a week

Malaysian palm oil futures dropped on Wednesday evening in their sharpest decline in a week, tracking weaker performing soyaoil and on forecasts of falling exports. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange fell 1.
Published 06 Oct, 2016 12:00am
Raw sugar at four-year high but holds below 24 cents/lb

Raw sugar at four-year high but holds below 24 cents/lb

Spot raw sugar futures on ICE rose on Wednesday to a more than four-year high on lower production expectations in India and a shortened harvest in top grower Brazil, but failed to reach resistance at 24 cents per lb. Cocoa and coffee prices also rose, joi
Published 06 Oct, 2016 12:00am
Gold slides in New York

Gold slides in New York

Gold slid more than 3 percent and was on track for its biggest one-day drop in nearly 15 months on Tuesday, reaching its lowest price since Britain's shock vote to leave the European Union in June, as the dollar rallied after upbeat US data. Spot silver p
Published 06 Oct, 2016 12:00am
Gold rises in Asia

Gold rises in Asia

Gold rose on Wednesday, recovering after hitting its lowest in more than three months in the previous session, as the US dollar eased from a two-month high and stocks fell. Spot gold was up 0.4 percent at $1,272.21 an ounce by 0645 GMT, after dropping mor
Published 06 Oct, 2016 12:00am
Gold steadies in Europe after speculative sell-off
Currency

Gold steadies in Europe after speculative sell-off

Gold steadied on Wednesday after plunging to three-month lows the previous day in a sharp sell-off triggered by speculative selling and a break of key technical support levels, which pushed the metal below the key $1,300 level. Spot gold was up 0.3 percen
Published 06 Oct, 2016 12:00am
US MIDDAY: wheat jumps

US MIDDAY: wheat jumps

US wheat futures rose about 3 percent on Wednesday as signs of fresh export demand triggered a short-covering rally in a market where commodity funds hold a large net short position, traders said. Corn futures were choppy, paring early declines as wheat a
Published 06 Oct, 2016 12:00am
US MIDDAY: gold little changed

US MIDDAY: gold little changed

Gold was little changed as the dollar pared gains early on Wednesday, after bullion inched down to the lowest in more than three months following the previous day's sharp sell-off and a technical break well below the key $1,300-an-ounce level. Spot silver
Published 06 Oct, 2016 12:00am
'Brain drain' hits sub-Saharan Africa: IMF

'Brain drain' hits sub-Saharan Africa: IMF

Skilled workers are leaving sub-Saharan Africa in rapidly increasingly numbers, producing a "brain drain" that causes long-term social damage, the International Monetary Fund warned Tuesday. The IMF said that the number of sub-Saharan migrants living in d
Published 06 Oct, 2016 12:00am
Sri Lanka to pay $115 million for cancelling planes

Sri Lanka to pay $115 million for cancelling planes

Sri Lanka's cash-strapped national carrier said Wednesday it will pay a penalty for cancelling leases on four Airbus A350s, with official sources putting the figure at about $115 million. SriLankan Airlines chairman Ajith Dias said it cancelled four of th
Published 06 Oct, 2016 12:00am
Switzerland pressures Malaysia over 1MDB 'Ponzi scheme'

Switzerland pressures Malaysia over 1MDB 'Ponzi scheme'

Switzerland on Wednesday raised the pressure on Malaysia to cooperate with its probe into scandal-tainted 1MDB, saying new evidence indicated a "Ponzi scheme" was used to cover up $800 million in misappropriations from the Malaysian state fund. The Swiss
Published 06 Oct, 2016 12:00am
Eurozone business growth at 21-month low in September
Currency

Eurozone business growth at 21-month low in September

Eurozone business growth fell last month to its weakest since the beginning of 2015, according to surveys providing the latest evidence the bloc's economy is losing momentum. Businesses have reined in spending amid growing caution about the economic outlo
Published 06 Oct, 2016 12:00am
Chinese-built railway links Ethiopia to sea

Chinese-built railway links Ethiopia to sea

With Chinese conductors at the helm, a fleet of shiny new trains will on Wednesday begin plying a new route from the Ethiopian capital to Djibouti, in a major boost to both economies. The 750 kilometre (460 mile) railway, built by two Chinese companies, w
Published 06 Oct, 2016 12:00am
Nigerian president sells jets amid economic crisis

Nigerian president sells jets amid economic crisis

Nigerian President Muhammadu Buhari is selling two of his jets in a bid to cut costs as the West African country battles to overcome a recession. In a statement released late on Tuesday, presidential spokesman Garba Shehu said that Buhari is reducing the
Published 06 Oct, 2016 12:00am
Canada's trade deficit shrinks

Canada's trade deficit shrinks

Canada's trade deficit in August shrank to its lowest level in eight months on stronger non-energy exports, offering further evidence the economy rebounded strongly in the third quarter. Statistics Canada on Wednesday said the deficit, the 24th in a row,
Published 06 Oct, 2016 12:00am
Brazilian banking strike enters 30th day

Brazilian banking strike enters 30th day

A strike by bank workers across Brazil entered its 30th day Wednesday, with branches shuttered for the longest stretch in a decade to force a 15 percent pay rise. Talks were scheduled later in the day in a bid to end the deadlock and get bank branches acr
Published 06 Oct, 2016 12:00am
Australia retail sales hit seven-month high

Australia retail sales hit seven-month high

Australia's retailers enjoyed a rare sales surge in August as household wealth touched record highs and unemployment edged lower - signs that activity might pick up in coming months. Retail sales rose 0.4 percent in August, data from the Australian Bureau
Published 06 Oct, 2016 12:00am
Iraq's foreign reserves drop to $50 billion

Iraq's foreign reserves drop to $50 billion

Iraq's foreign exchange reserves have dropped to $50 billion as the Opec nation continues to run a budget deficit because of falling oil income, state-run newspaper al-Sabah said on Wednesday, citing Central Bank Governor Ali al-Alak. Iraq' foreign reserv
Published 06 Oct, 2016 12:00am
Trade deficit widens

Trade deficit widens

The US trade deficit rose more than expected in August as a rise in imports offset higher exports. The Commerce Department said on Wednesday the trade gap widened 3 percent to $40.73 billion. Imports hit their highest level since September 2015 while expo
Published 06 Oct, 2016 12:00am
US services sector activity surges to 11-month high

US services sector activity surges to 11-month high

US services sector activity rebounded to an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve interest rate hike this year. The Institute of Supply Management (ISM) said on Wednesday it
Published 06 Oct, 2016 12:00am
Saudi index gains as crude firms but UAE, Qatar lag; Egypt strong

Saudi index gains as crude firms but UAE, Qatar lag; Egypt strong

Saudi Arabia's petrochemical stocks rallied on Wednesday after Brent crude oil firmed over $51 a barrel, while Egypt climbed for a third straight session as investors anticipated approval of its International Monetary Fund loan programme. Riyadh's stock i
Published 06 Oct, 2016 12:00am
Tokyo shares up as exporters lifted by weak yen

Tokyo shares up as exporters lifted by weak yen

Tokyo shares rose Wednesday as growing expectations for a US interest rate hike sent the dollar up against the yen, boosting Japan's exporters. Comments from two top Federal Reserve officials Tuesday suggesting borrowing costs should rise gave fresh suppo
Published 06 Oct, 2016 12:00am
Threat of 'hard Brexit' pulls down Wall Street

Threat of 'hard Brexit' pulls down Wall Street

US stocks dropped on Tuesday as investors fretted about Britain's exit from the European Union and the prospect of a Federal Reserve interest rate hike in coming months. It was the second straight session of losses on Wall Street, where investors were alr
Published 06 Oct, 2016 12:00am
Hong Kong stocks rise
Currency

Hong Kong stocks rise

Hong Kong stocks posted modest gains in thin trading on Wednesday, outperforming regional markets, lifted by energy shares after an overnight surge in oil prices and helped by some short covering. The benchmark Hang Seng Index rose 0.4 percent at 23,788.3
Published 06 Oct, 2016 12:00am
Treasury yields near two-week highs

Treasury yields near two-week highs

US Treasury prices dropped and yields jumped to almost two-week highs after a report that the European Central Bank may taper asset purchases spooked investors. Bloomberg reported that ECB policymakers were building consensus that quantitative easing woul
Published 06 Oct, 2016 12:00am
Treasury yields near two-week highs

Treasury yields near two-week highs

US Treasury prices dropped and yields jumped to almost two-week highs after a report that the European Central Bank may taper asset purchases spooked investors. Bloomberg reported that ECB policymakers were building consensus that quantitative easing woul
Published 06 Oct, 2016 12:00am
Sri Lankan shares lower

Sri Lankan shares lower

Sri Lankan stocks ended down on Wednesday from their highest level in six weeks, hit in the previous session, led by profit-taking in Commercial Credit and Finance Plc, while the new tobacco tax weighed on Ceylon Tobacco Company shares. The benchmark inde
Published 06 Oct, 2016 12:00am
Indian shares down

Indian shares down

Indian shares ended lower on Wednesday to post their first drop in four sessions, as investors booked profit in recent outperformers such as HDFC Bank Ltd and ICICI Bank Ltd after the central bank cut rates on Tuesday. The broader NSE index ended 0.29 per
Published 06 Oct, 2016 12:00am
European shares fall led by utilities, real estate; Tesco soars

European shares fall led by utilities, real estate; Tesco soars

European shares fell on Wednesday on concerns that the European Central Bank might reduce the pace of bond-buying before its asset purchase programme ends, hitting utility and property stocks hardest. The pan-European STOXX 600 index ended down 0.6 percen
Published 06 Oct, 2016 12:00am
Australian shares lower; New Zealand limps

Australian shares lower; New Zealand limps

Australian shares fell on Wednesday, with mining stocks hurt by declines in commodity prices. Investor confidence also was bruised by a report that the European Central Bank was withdrawing its bond buying program, though an ECB media officer denied there
Published 06 Oct, 2016 12:00am
FTSE retreats from near-record high, Tesco jumps

FTSE retreats from near-record high, Tesco jumps

Britain's top share index retreated on Wednesday after reaching to a near-record high in the previous day, with miner Polymetal slumping following concerns about its dividend payout and United Utilities hit by a broker downgrade. However, Tesco shares sur
Published 06 Oct, 2016 12:00am
Dollar hovers near two-month high in Asia
Currency

Dollar hovers near two-month high in Asia

The dollar hovered near a two-month high against a basket of currencies on Wednesday, lifted by hawkish comments from a Federal Reserve official and higher US Treasury yields. The euro also extended its bounce following a report of potential changes to Eu
Published 06 Oct, 2016 12:00am
Euro makes broad gains in Europe
Currency

Euro makes broad gains in Europe

The euro soared to a five-year peak against the struggling pound on Wednesday and scaled a three-week high against the yen, bolstered by rising euro zone government bond yields. Most euro zone bond yields rose to two-week highs in European trade, a day af
Published 06 Oct, 2016 12:00am
Sterling hits 31-year low in New York
Currency

Sterling hits 31-year low in New York

The sterling stumbled to its weakest against the dollar in 31 years on fears over Britain's looming exit from the European Union, while the euro recovered much of its losses on a report that suggested the European Central Bank might scale back its bond pu
Published 06 Oct, 2016 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 78.40-78.40 (previous 78.40-78.40).
Published 06 Oct, 2016 12:00am
Fears of Fed rate hike, ECB tapering rattle Asia FX
Currency

Fears of Fed rate hike, ECB tapering rattle Asia FX

Most emerging Asian currencies and bonds fell on Wednesday, hurt by a top US Federal Reserve official's support for an interest rate hike and concerns over a potential reduction in stimulus by the European Central Bank. South Korea's won also hit a two-we
Published 06 Oct, 2016 12:00am
Sterling steadies after fall below $1.27
Currency

Sterling steadies after fall below $1.27

Britain's pound steadied on Wednesday after growing fears of a 'hard' Brexit from the European Union briefly drove it below $1.27 for the first time since 1985. After hitting a 5-year trough against a broadly stronger euro in early trade in London, sterli
Published 06 Oct, 2016 12:00am
Aussie up, kiwi down

Aussie up, kiwi down

The Australian dollar edged ahead on Wednesday as investors cheered better-than-expected retail sales data after months of tepid growth, while Brexit concerns lifted the Aussie to its highest against the pound in more than three years. The Australian doll
Published 06 Oct, 2016 12:00am
Akram wins Manzoor Hussain Memorial Golf Championship

Akram wins Manzoor Hussain Memorial Golf Championship

Professional golf player Muhammad Akram has won the 8th edition of Manzoor Hussain Memorial Golf Championship, held at par 72 golf course of Lahore Gymkhana on Wednesday. This is an event held for senior golf professionals and alongside the main event the
Published 06 Oct, 2016 12:00am
'World Robot Summit' coming to Japan in 2020

'World Robot Summit' coming to Japan in 2020

The robot olympics are coming to Japan in 2020, the same year that the eyes of the world will be on the summer games in Tokyo. As top human athletes battle for medals, their cutting-edge droid counterparts will also be locked in fierce competition at the
Published 06 Oct, 2016 12:00am
Nishikori pulls out of Japan Open

Nishikori pulls out of Japan Open

Top seed Kei Nishikori withdrew from the Japan Open Wednesday due to a buttock muscle injury, disappointing home fans hoping he could recapture the trophy. The world number five became the latest star to pull out of the injury-plagued tournament, after US
Published 06 Oct, 2016 12:00am
Murray into quarters, youngsters take charge in Beijing

Murray into quarters, youngsters take charge in Beijing

Andy Murray stormed into the China Open quarter-finals with a 6-2, 6-1 victory over Andrey Kuznetsov on Wednesday, as on the outer courts the tournament's younger players appeared in control. The 49th-ranked Russian broke Murray's serve in the first game,
Published 06 Oct, 2016 12:00am
Azam in record books as Pakistan dominate

Azam in record books as Pakistan dominate

Red-hot Babar Azam hit his third consecutive hundred while skipper Azhar Ali returned to form with a century as Pakistan punished West Indies in the third day-night international in Abu Dhabi on Wednesday. Azam became just the seventh batsman in one-day c
Published 06 Oct, 2016 12:00am
Two matches decided in FFL

Two matches decided in FFL

Fame Football Club beat Baba Cargo Football Club 1-0 while Sabzazar Football Club outclassed Murad Football Club 5-0 in the Super Round of Fame Football League (FFL) here at Fame Sports Football Ground in Model Town Lahore. The match between Fame Football
Published 06 Oct, 2016 12:00am
KP Junior Age Groups Squash begins

KP Junior Age Groups Squash begins

Khyber Pakhtunkhwa Junior Boys and Girls Age Group Squash Championship will commence from October 6-9, 2016 here at PAF Hashim Khan Squash Complex. This was stated by former World Champion and Voce President Pakistan Squash Federation Qamar Zaman while ta
Published 06 Oct, 2016 12:00am
Australia pile up 371-run Kingsmead record

Australia pile up 371-run Kingsmead record

David Warner and Steve Smith hit centuries to lead a strong Australian batting performance in the third one-day international against South Africa at Kingsmead on Wednesday. The left-handed Warner hit 117 and captain Smith made 108 as Australia made 371 f
Published 06 Oct, 2016 12:00am
Sharapova's ex-boyfriend says she deserved ban

Sharapova's ex-boyfriend says she deserved ban

Maria Sharapova's ex-boyfriend Grigor Dimitrov on Wednesday suggested she deserved her ban from tennis for a doping offence, an incident that has sent shockwaves through the sport. "I think tennis misses her," the Bulgarian world number 20 said of the fiv
Published 06 Oct, 2016 12:00am
German clubs top European supporters league

German clubs top European supporters league

It may have vast wealth and an enviable array of talent but England's Premier League plays second fiddle to Germany's Bundesliga when it comes to drawing the crowds, figures show. The Bundesliga attracted an average of 42,685 fans per game in the 2014-201
Published 06 Oct, 2016 12:00am
'Suicidal' Tyson Fury admits cocaine use

'Suicidal' Tyson Fury admits cocaine use

Troubled world heavyweight champion Tyson Fury has admitted taking large amounts of cocaine, saying he is also suicidal and that "I hope someone kills me before I kill myself". Following the Briton's latest, disturbing comments, the British Boxing Board o
Published 06 Oct, 2016 12:00am
Pakistan barred from Kabaddi World Cup in India

Pakistan barred from Kabaddi World Cup in India

The 12-nation Kabaddi World Cup kicks off this week in India, with a row over a decision to bar arch-rivals Pakistan from competing threatening to overshadow the tag-wrestling sport's showcase event. Formidable Iran clash with newcomers the United States
Published 06 Oct, 2016 12:00am
Cheques for Bangladesh militants for return to normal life

Cheques for Bangladesh militants for return to normal life

Two Bangladeshi Islamist militants received cheques from the government on Wednesday in return for pledging to return to normal life, under a new scheme attempting to halt rising extremism. Police said Abdul Hakim, 22, and Mahmudul Hasan, 17, had been mem
Published 06 Oct, 2016 12:00am
Farage rules out leading UK Independence Party again

Farage rules out leading UK Independence Party again

Nigel Farage on Wednesday ruled out returning to head up Britain's anti-EU UK Independence Party, a day after its newly nominated leader Diane James resigned suddenly just over two weeks into her new job. "Not at all. I've done my job," Farage said when a
Published 06 Oct, 2016 12:00am
Putin appoints former PM to key Kremlin post

Putin appoints former PM to key Kremlin post

President Vladimir Putin on Wednesday appointed former prime minister and long-term nuclear chief Sergei Kiriyenko to the key position of deputy head of his presidential administration. The appointment is the latest in a broader reshuffle by the Russian l
Published 06 Oct, 2016 12:00am
Portugal's Guterres poised to be next UN secretary-general

Portugal's Guterres poised to be next UN secretary-general

Portugal's former prime minister Antonio Guterres is poised to become the next secretary-general of the United Nations following a sixth straw poll by the Security Council, diplomats said Wednesday. Russian Ambassador Vitaly Churkin emerged from the secre
Published 06 Oct, 2016 12:00am
Air strike kills 21 Iraq pro-government fighters

Air strike kills 21 Iraq pro-government fighters

An air strike killed 21 Iraqi pro-government Sunni tribal fighters early on Wednesday in an area south of the country's jihadist-held second city Mosul, a commander and a minister said. It was unclear whether it was the Iraqi military or the US-led coalit
Published 06 Oct, 2016 12:00am
Dramatic rescue images as EU urged to change tack on migrant crisis

Dramatic rescue images as EU urged to change tack on migrant crisis

The horror, terror and joy felt during perilous rescues of migrant boats were captured in powerful new images published Wednesday, as the latest deadly episode in the Mediterranean fuelled calls for Europe to change tack on the crisis. AFP photographer Ar
Published 06 Oct, 2016 12:00am
Chinese rank US as 'top threat'

Chinese rank US as 'top threat'

Chinese people believe the United States is the "top threat" facing their country, a poll showed Wednesday, with most suspecting the world's number one economy of trying to "prevent China from becoming an equal power". A survey by the Washington-based Pew
Published 06 Oct, 2016 12:00am
Food shortages as residents flee Kunduz fighting

Food shortages as residents flee Kunduz fighting

Food was running short as forces in Afghanistan battled Taliban militants for a third day in Kunduz Wednesday, residents said, with scores fleeing the strategic Afghan city fearing more violence. Taliban militants on Monday launched an attack in the north
Published 06 Oct, 2016 12:00am
Two Brussels police stabbed

Two Brussels police stabbed

An attacker stabbed two police officers in Brussels on Wednesday in a possible terror incident, the latest attack in a city still reeling from bombings by the Islamic State group that killed 32 people in March. Prosecutors identified the man, who was late
Published 06 Oct, 2016 12:00am
Israel hits Hamas posts

Israel hits Hamas posts

Israel's military struck several Hamas positions in the Gaza Strip on Wednesday after a rocket launched from the Palestinian enclave hit a nearby Israeli city, with no casualties reported on either side. The rocket hit Sderot, part of which lies less than
Published 06 Oct, 2016 12:00am
ICC announces visit to Israel, Palestinian territories

ICC announces visit to Israel, Palestinian territories

A delegation from the world's only permanent war crimes court is visiting Israel and the Palestinian territories this week, the chief prosecutor said Wednesday, against the backdrop of a probe into the 2014 Gaza war. The trip from Wednesday until October
Published 06 Oct, 2016 12:00am
UN declares Syria's east Aleppo 'besieged'

UN declares Syria's east Aleppo 'besieged'

The rebel-held east of Syria's Aleppo has officially been declared a "besieged area", following a months-long government offensive and a lack of access for aid workers, the UN said Wednesday. United Nations humanitarian agency (OCHA) spokesman Jens Laerke
Published 06 Oct, 2016 12:00am
Amid privacy outcry, Yahoo denies surveillance allegations

Amid privacy outcry, Yahoo denies surveillance allegations

Yahoo on Wednesday denied conducting mass email surveillance after a report alleging it built a special scanning program at the behest of US intelligence which sparked an outcry from privacy activists. The report, which said the US internet giant had secr
Published 06 Oct, 2016 12:00am
HCCI demands supply of filtered water

HCCI demands supply of filtered water

The Chairman HCCI Sub-Committee on Water and Sanitation Agency (WASA) Abdul Waheed Shaikh has invited the attention of the Managing Director WASA regarding supply of unfiltered water to many areas of urban localities of Hyderabad. He said that due to supp
Published 06 Oct, 2016 12:00am
Pakistan-Belarus Investment Forum held to promote trade activities

Pakistan-Belarus Investment Forum held to promote trade activities

Pakistan-Belarus Investment Forum was held to promote trade activities between the two countries on the occasion of the visit of Belarusian President to Pakistan. The event was attended by a significant number of private sector businessmen representing ag
Published 06 Oct, 2016 12:00am
Telecom imports plunged by 10 percent

Telecom imports plunged by 10 percent

Pakistan's overall telecom imports plunged by 10 percent to $174.469 million in July-August 2016-17, official figures say. Fall in telecom imports reaches $18.753 million in July-Aug 2016-17 from $193.222 million in July-August 2015-16, Pakistan Bureau o
Published 06 Oct, 2016 12:00am
Power Cement Limited

Power Cement Limited

Power Cement Limited, formerly Al Abbas Cement Industries Limited (AACIL) was established in 1981 and went public in 1987, and was acquired by a consortium of Arif Habib Group and Al Abbas Group. It is now a subsidiary of Arif Habib Corporation Limited. T
Published 06 Oct, 2016 12:00am
Power Cement Limited

Power Cement Limited

Power Cement Limited, formerly Al Abbas Cement Industries Limited (AACIL) was established in 1981 and went public in 1987, and was acquired by a consortium of Arif Habib Group and Al Abbas Group. It is now a subsidiary of Arif Habib Corporation Limited. T
Published 06 Oct, 2016 12:00am
NSC met only 6 times till July since its creation: Pildat

NSC met only 6 times till July since its creation: Pildat

Since its creation, the National Security Committee (NSC) has only met six times till July 2016, even though Pakistan has had more than its fair share of security-related challenges, according to a report released by Pildat on Wednesday.
Published 06 Oct, 2016 12:00am
SECP initiated 22 show-cause proceedings in September

SECP initiated 22 show-cause proceedings in September

During the month of September, the Securities and Exchange Commission of Pakistan (SECP) initiated 22 fresh show-cause proceedings against the erring management and companies' auditors for various violations of the 1984 Ordinance. These violations, among
Published 06 Oct, 2016 12:00am
'Criminal cases being used for political wheeling and dealing'

'Criminal cases being used for political wheeling and dealing'

Political interference accounts for a proclaimed offender with non-bailable arrest warrants issued against him shown on national television being received by the Prime Minister, informed sources told Business Recorder. The Prime Minister needs the
Published 06 Oct, 2016 12:00am
FAO DG speaks about global demand-supply trends

FAO DG speaks about global demand-supply trends

Minister for National Food Security and Research, Sikandar Hayat Khan Wednesday assured the full support of the government to the Food and Agriculture Organisation (FAO) in improving the agricultural sector and eradication of pests and diseases of agro re
Published 06 Oct, 2016 12:00am
PTI leader released on bail

PTI leader released on bail

Former provincial minister for mine and minerals, and PTI leader Ziaullah Afridi was released on bail on Wednesday. Former provincial minister was arrested by the Khyber Pakhtunkhwa Ehtesab Commission (KPEC) in July 2015 due to corruption charges in the m
Published 06 Oct, 2016 12:00am
Mushahid sees India-Pakistan tension easing

Mushahid sees India-Pakistan tension easing

Recent contacts made by the national security advisors of Pakistan and India should help de-escalate tensions between the both countries over the disputed Kashmir, a prominent Pakistani politician said on Tuesday. Mushahid Hussain, Chairman of the Pakista
Published 06 Oct, 2016 12:00am
PTA clarification

PTA clarification

Apropos a news item published in "Business Recorder" on 4th October 2016, titled "Over Rs 122 Billion misappropriation unearthed in PTA", it is clarified that "the story is based on the preliminary audit paras which carry only audit's opinion and percepti
Published 06 Oct, 2016 12:00am
BoR for deciding overseas Pakistanis' cases in 3 hearings

BoR for deciding overseas Pakistanis' cases in 3 hearings

The Board of Revenue (BoR) has directed the revenue officers (ROs) to decide revenue cases of overseas Pakistanis in three hearings and also furnish reports to the BoR on monthly basis. This was decided at a meeting held between Overseas Pakistanis Punjab
Published 06 Oct, 2016 12:00am
UHS finalises integrated curriculum for MBBS programme

UHS finalises integrated curriculum for MBBS programme

In a bid to provide students with a patient-centred and disease-focused medical education, and as a crucial step towards the introduction of semester or modular system in medical colleges, the University of Health Sciences (UHS) has finalised a new integr
Published 06 Oct, 2016 12:00am
Metro train project led to 20 percent surge in allergy cases: experts

Metro train project led to 20 percent surge in allergy cases: experts

Expressing concern over surge in cases of allergy, health experts on Wednesday said that since the start of Lahore Metro Orange Train (LMOT) project, there was up to 20 percent increase in the number of allergy patients in the provincial metropolis of Lah
Published 06 Oct, 2016 12:00am
Orange Line project: ABAD seeks redressal of concerns

Orange Line project: ABAD seeks redressal of concerns

The Association of Builders and Developers (ABAD) Punjab Chairman, Engr Akber Sheikh has urged the Punjab government to address the concerns relating to Orange Line Metro Train for timely completion of the project. According to him, the NESPAK reports reg
Published 06 Oct, 2016 12:00am
Punjab CM approves new law for industrial workers

Punjab CM approves new law for industrial workers

Punjab Chief Minister Muhammad Shahbaz Sharif has accorded principle approval to the draft legislation regarding occupational safety and health to secure the industrial workers who remain exposed to respire able dust, particularly silicon which causes dan
Published 06 Oct, 2016 12:00am
Three held for hunting falcons

Three held for hunting falcons

The Punjab Wildlife & Parks Department's team working against illegal hunting arrested three persons involved in falcon hunting without permission in Gujranwala Division. As per details, Honorary Game Warden, Gujranwala Division, Usman Mahmood Rana, and D
Published 06 Oct, 2016 12:00am
LCCI dislikes undue raids by FBR for recovery of taxes

LCCI dislikes undue raids by FBR for recovery of taxes

The Lahore Chamber of Commerce and Industry (LCCI) has urged the Federal Board of Revenue (FBR) to stop issuance of undue notices to businessmen which is damaging the reputation of business-friendly government. LCCI Senior Vice President Amjad Ali Jawa wh
Published 06 Oct, 2016 12:00am
Cases registered against top FDP officials

Cases registered against top FDP officials

Chak Jhumra Police have registered a case against 5 top officers of the Faisalabad Dry Port Trust on charge of embezzling a huge amount of 25.3 million of Rupees from the Dry Port Funds. The accused include: Nasar Hayat,General Manager, Naveed Imra, Manag
Published 06 Oct, 2016 12:00am
Handmade carpet: 134 foreign delegates to participate in expo

Handmade carpet: 134 foreign delegates to participate in expo

As many as 134 foreign buyers and delegates have confirmed their participation in the 34th Pakistan International Handmade Carpet Exhibition being organised by the Pakistan Carpet Manufacturers and Exporters Association in collaboration with Trade Develop
Published 06 Oct, 2016 12:00am
Motorbikes distributed among 43 dairy sector technicians

Motorbikes distributed among 43 dairy sector technicians

Alyson McFarland, United States Agency for International Development's (USAID) Provincial Director for Punjab, joined Chairman Dairy and Rural Development Foundation Dr Salman Shah here on Tuesday at a ceremony to distribute motorbikes to 43 dairy sector
Published 06 Oct, 2016 12:00am
Industrial software solution: GE signs accords with Nishat Group

Industrial software solution: GE signs accords with Nishat Group

The General Electric has signed agreements to provide advanced digital industrial software solutions to the Lalpir Power Ltd and Pakgen Power Ltd operators of Nishat Group's thermal power plants located in Mehmood Kot near Muzaffargarh. Each facility has
Published 06 Oct, 2016 12:00am
PU vice chancellor underscores need for lowering Indo-Pak tension

PU vice chancellor underscores need for lowering Indo-Pak tension

Punjab University Vice Chancellor Professor Dr Mujahid Kamran has called upon Prime Minister Nawaz Sharif to give the same message to Indian Premier Narendra Modi which was given by General Zia-ul-Haq to Rajiv Gandhi when the general had flown to Delhi in
Published 06 Oct, 2016 12:00am
'More FTO Secretariats to be established soon'

'More FTO Secretariats to be established soon'

Federal Tax Ombudsman (FTO) Abdul Rauf on Wednesday said that in order to provide relief and to facilitate the people, more Regional FTO Secretariats would be established soon. While addressing the members of Sialkot Chamber of Commerce and Industry (SCCI
Published 06 Oct, 2016 12:00am
NAB's 21st DG conference concludes

NAB's 21st DG conference concludes

The three days 21st Director Generals Conference of National Accountability Bureau (NAB) has concluded in Islamabad on Wednesday with a determination to pursue the corruption cases according to merit and transparently. Chairman NAB Qamar Zaman Chaudhry ch
Published 06 Oct, 2016 12:00am
Pakistan concerned over US Presidential veto on JASTA

Pakistan concerned over US Presidential veto on JASTA

Pakistan, Wednesday has noted with concern the overturning of the US Presidential veto on Justice Against Sponsors of Terrorism Act (JASTA) which is a law passed by the US Congress "aimed at targeting sovereign states." Many countries across Europe and in
Published 06 Oct, 2016 12:00am
FPCCI forms standing committee for direct selling business

FPCCI forms standing committee for direct selling business

For the first time, the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), has constituted a new standing committee of Direct Selling for the promotion and protection of this business in Pakistan. Shaikh Rashid Alam has been appointed as the
Published 06 Oct, 2016 12:00am
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