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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-10-14
Nobel prize-winning Italian playwright Dario Fo dies

Nobel prize-winning Italian playwright Dario Fo dies

Italian satirical dramatist Dario Fo, who won the Nobel prize for literature in 1997, died on Thursday aged 90, prompting an outpouring of tributes for a provocative playwright unafraid to clash with authority. The writer and actor succumbed to complicati
Published 14 Oct, 2016 12:00am
Gulf, Turkey bemoan UN inaction on Aleppo

Gulf, Turkey bemoan UN inaction on Aleppo

Turkey's foreign minister and his Arab counterparts in the Gulf on Thursday condemned "indiscriminate" air strikes on Syria's Aleppo and expressed "deep regret" at the UN's inability to stop the raids. The concerns came in a statement closing a meeting in
Published 14 Oct, 2016 12:00am
Boko Haram releases 21 Chibok girls

Boko Haram releases 21 Chibok girls

Jihadist group Boko Haram has released 21 of the more than 200 kidnapped Chibok schoolgirls held since April 2014 in a prisoner swap deal with the Nigerian government, local sources said Thursday. The girls were exchanged for four Boko Haram militants in
Published 14 Oct, 2016 12:00am
World urged to scrap super greenhouse gases at Rwanda summit

World urged to scrap super greenhouse gases at Rwanda summit

Rwanda's President Paul Kagame urged world leaders to rid the world of potent greenhouse gases used in refrigerators and air conditioners, as he opened a high-level meeting in Kigali Thursday. Envoys from nearly 200 nations are in the Rwandan capital to t
Published 14 Oct, 2016 12:00am
South Africa opposition leader charged over land seizure call

South Africa opposition leader charged over land seizure call

Prosecutors in South Africa said Thursday they had charged firebrand opposition politician Julius Malema under an apartheid-era law after he urged his supporters to occupy land illegally. The National Prosecution Authority (NPA) said it had "decided to in
Published 14 Oct, 2016 12:00am
Abbas pardons Palestinian official jailed for criticising him

Abbas pardons Palestinian official jailed for criticising him

A Palestinian security official sentenced to jail for criticising president Mahmud Abbas on Facebook for attending Shimon Peres's funeral has been pardoned, a rights group said on Thursday. Abbas has granted the pardon to Lieutenant Colonel Osama Mansour,
Published 14 Oct, 2016 12:00am
Russia offers to secure rebel evacuation from Aleppo

Russia offers to secure rebel evacuation from Aleppo

Russia said Thursday it was prepared to secure safe passage for rebels to quit Syria's Aleppo but kept up air strikes on the battleground city as world powers readied new truce talks. Syria has been plunged into some of the worst violence of its five-year
Published 14 Oct, 2016 12:00am
Pakistan condemns terrorist attacks in Kabul

Pakistan condemns terrorist attacks in Kabul

Pakistan strongly condemns the terrorist attacks on Sakhi shrine and Charyar Mosque in Kabul yesterday. The brutal acts have resulted in the loss of precious human lives and injuries to scores of innocent people. We extend our profound condolences to the
Published 14 Oct, 2016 12:00am
US urges Pakistan to shut down access to 'terrorists'

US urges Pakistan to shut down access to 'terrorists'

The United States State Department on Wednesday urged Pakistan to "shut down access to areas inside their borders to terrorists." State Department Spokesperson John Kirby in a press briefing, when asked to comment on recent remarks by Jamaat-ud-Dawa (JuD)
Published 14 Oct, 2016 12:00am
World Sight Day marked

World Sight Day marked

With the theme of "stronger together," the World Sight Day was marked here like other parts of the world with a firm resolve to raise awareness about the eye diseases so that burden of blindness could be checked. To mark the day, different events were org
Published 14 Oct, 2016 12:00am
Scheduled loadshedding resumed after Ashura

Scheduled loadshedding resumed after Ashura

Scheduled loadshedding resumed after a break of two days of Ashura across the country, said the National Transmission and Despatch Company sources. The sources said that loadshedding of electricity for six hours a day in urban and eight hours a day in rur
Published 14 Oct, 2016 12:00am
'LCCI to establish 100 sector-specific standing bodies'

'LCCI to establish 100 sector-specific standing bodies'

"Lahore Chamber of Commerce and Industry is going to establish more than 100 sector-specific standing committees which would collect private sector feedback, analyse and filter the same through experts." LCCI President Abdul Basit stated this while talkin
Published 14 Oct, 2016 12:00am
Punjab to get benefit from Turkish model of health system: Rafique

Punjab to get benefit from Turkish model of health system: Rafique

"New avenues of cooperation between Punjab government and Ministry of Turkey would be open for the development of health sector in Punjab as a result of current visit of eight-member delegation of Turkish Ministry of Health to Punjab." Advisor to Chief Mi
Published 14 Oct, 2016 12:00am
Three children killed in wall collapse

Three children killed in wall collapse

Three children were killed, two injured seriously, when a wall of house collapsed during distribution of "Niayaz" in Islam Nagar. According to police, three children Atta Muhammad, Ahsan Ali and Danish Ali were died on the spot, while two removed to Allie
Published 14 Oct, 2016 12:00am
PepsiCo Pakistan brightens up SOS Children's village

PepsiCo Pakistan brightens up SOS Children's village

Volunteers from PepsiCo Pakistan took part in organizing a cheerful and bright evening at the SOS children's village in Lahore as a part of its Lighting Up Lives CSR campaign. The campaign aims to bring the 'gift of light' through solar powered LED lamps
Published 14 Oct, 2016 12:00am
LHC issues notices against tax amnesty

LHC issues notices against tax amnesty

The Lahore High Court on Thursday issued notices to the finance ministry and others for October 20 in a petition challenging tax amnesty scheme for traders. The petitioner advocate, Sheraz Zaka, argued that the scheme was discriminatory as it was passed b
Published 14 Oct, 2016 12:00am
Unity a must for supremacy of Islam: Asif

Unity a must for supremacy of Islam: Asif

Defence Minister Khawaja Muhammad Asif on Wednesday stressed upon the Muslim Ummah to forge unity among the ranks for the supremacy of Islam. Talking to media he said that Muslim Ummah was confronting with varied problems and difficulties because we have
Published 14 Oct, 2016 12:00am
Punjab government to develop Safari Park of world standard

Punjab government to develop Safari Park of world standard

The Punjab government has decided in principal to develop a 'Safari Park' of international standard in the Salt Range over an area of 1,000 acres of land to promote eco-tourism, conserve natural wildlife habitat and provide eco-friendly recreational facil
Published 14 Oct, 2016 12:00am
MCCI rejects 36 percent raise in gas tariff

MCCI rejects 36 percent raise in gas tariff

The Multan Chamber of Commerce and Industry (MCCI) on Thursday rejected 36 percent increase in gas tariff by the Oil and Gas Regulatory Authority (OGRA) and urged the government to reject the decision and withdraw the hike. Khawaj Jalaluddin Roomi Preside
Published 14 Oct, 2016 12:00am
Ashura observed in Faisalabad division amid tight security

Ashura observed in Faisalabad division amid tight security

The Youm-e-Ashur (10th Muhrram-ul-Haram) was observed Faisalabad Division peacefully amid tight security to commemorate the supreme sacrifice of Grand Son of the Holy Prophet Hazrat Muhammad (Peace Be Upon Him) Hazrat Imam Hussein (RA) and his companions.
Published 14 Oct, 2016 12:00am
13th P@SHA ICT Awards today

13th P@SHA ICT Awards today

Pakistan Software Houses Association (P@SHA) honouring top IT companies in Pakistan at the 13th P@SHA ICT Awards. P@SHA ICT Awards being organized in Karachi on October 14. Now in its 13th year, the objective of annual P@SHA ICT Awards is to provide recog
Published 14 Oct, 2016 12:00am
Annual FFC Report gets huge recognition

Annual FFC Report gets huge recognition

FFC Annual Report 2015 was adjudged Chemical Sector Best, Overall First and also first in Sustainability by the joint evaluation board of the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost Management Accountants of Pakistan (I
Published 14 Oct, 2016 12:00am
Eight killed in Gojrah road accidents

Eight killed in Gojrah road accidents

At least four people were killed and a woman was injured critically when a tractor trolley crushed a motorcycle on Pensira Road on Thursday. According to police five people were riding the motorcycle. Father, son, daughter and her father-in-law were kille
Published 14 Oct, 2016 12:00am
Azhar Majeed elected PBEA chairman

Azhar Majeed elected PBEA chairman

Azhar Majeed Shaikh has been elected unopposed as Chairman of one of the oldest and Premier Pakistan Bedwear Exporters Association. While, Athar Mohammad Naqi Bari has been also elected as Senior Vice Chairman (SVC) and Junaid Nawab as Vice Chairman (VC)
Published 14 Oct, 2016 12:00am
Sugarcane crop: Sindh government asked to fix procurement rate

Sugarcane crop: Sindh government asked to fix procurement rate

The Sindh Abadgar Ittehad has demanded of the Sindh Government to fix the official procurement rate for sugarcane crop at Rs 220 per maund while rejecting the recently fixed rate of Rs 182. At a press conference at Hyderabad press club on Thursday, Itteha
Published 14 Oct, 2016 12:00am
'I will not back off,' Waseem assures court

'I will not back off,' Waseem assures court

Muttahida Qaumi Movement (MQM) leader Waseem Akhtar on Thursday said that he will not back off as he is an elected mayor of Karachi. Anti-Terrorism Court (ATC) conducted a hearing of May 12 incident in which Waseem Akhtar said that fake cases are being lo
Published 14 Oct, 2016 12:00am
US CG terms PSX a symbol of economic growth

US CG terms PSX a symbol of economic growth

The US Consul General in Karachi Grace Shelton has said that the US government is committed to Pakistan's private sector and economic growth. She was talking to media persons during her visit to Pakistan Stock Exchange (PSX) here on Monday. It was her fir
Published 14 Oct, 2016 12:00am
Sindh CM directs SKAA for upgrading 100 katchi abadies

Sindh CM directs SKAA for upgrading 100 katchi abadies

In a move to bring katchi abadies in the township, the Sindh government on Thursday has decided to provide basic facilities, including road infrastructure to 100 katchi abadies established all over Sindh. Presiding over a meeting on the issues of katchi a
Published 14 Oct, 2016 12:00am
Etihad to increase daily flights to Dallas/Fort Worth

Etihad to increase daily flights to Dallas/Fort Worth

Etihad Airways, the national airline of the United Arab Emirates, will increase frequency on the Dallas/Fort Worth- Abu Dhabi route to a daily service early next year in response to heightened demand from guests travelling between the two destinations. Be
Published 14 Oct, 2016 12:00am
Askari Bank posts Rs 1.227 billion PAT

Askari Bank posts Rs 1.227 billion PAT

The profit after tax of Askari Bank has increased to Rs 1.227 billion in the quarter ended September 30, 2016 as compared to Rs 1.032 earned in the same quarter last year. The bank's earning per share surged to Rs 0.97 in the period under review against R
Published 14 Oct, 2016 12:00am
Askari Bank posts Rs 1.227 billion PAT

Askari Bank posts Rs 1.227 billion PAT

The profit after tax of Askari Bank has increased to Rs 1.227 billion in the quarter ended September 30, 2016 as compared to Rs 1.032 earned in the same quarter last year. The bank's earning per share surged to Rs 0.97 in the period under review against R
Published 14 Oct, 2016 12:00am
Amir, Faisal, Izhar, Kishwar Zehri expelled by MQM-London

Amir, Faisal, Izhar, Kishwar Zehri expelled by MQM-London

The Altaf Hussain-led Muttahida Qaumi Movement (MQM-London) has expelled several key leaders from party membership for "violating discipline." MQM-London's deputy convenor Nadeem Nusrat chaired a meeting in London and announced that the basic membership o
Published 14 Oct, 2016 12:00am
Bilawal to lead rally on October 16

Bilawal to lead rally on October 16

Pakistan People's Party (PPP) Chairman Bilawal Bhutto Zardari has announced a rally on October 16 to complete his slain mother's unfinished rally in 2007 when her motorcade was attacked by a powerful bomb. In a video message released on Twitter on Wednesd
Published 14 Oct, 2016 12:00am
Government urged to focus on horticulture, other sectors
Cotton

Government urged to focus on horticulture, other sectors

Chairman Regional Standing Committee on Horticulture Exports of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Ahmad Jawad proposed that if government wishes to enhance exports in a short period of time then they should focus on horticultu
Published 14 Oct, 2016 12:00am
Promotion of education in FATA top priority: KP Governor

Promotion of education in FATA top priority: KP Governor

Khyber Pakhtunkhwa Governor, Iqbal Zafar Jhagra has said that promotion of education in Federal Administered Tribal Area (FATA) is the top most priority of our government and bright future for the country can only be ensured by providing modern education
Published 14 Oct, 2016 12:00am
PML-N to show political power against PTI in Mardan on 16th: Muqam

PML-N to show political power against PTI in Mardan on 16th: Muqam

PML-N leader and Prime Minister Advisor, Engr Amir Muqam has said people have spurned Imran's Khan agenda of anarchy and protest politics, and announced the PML-N will demonstrate political power against the PTI negative politics in district Mardan on Oct
Published 14 Oct, 2016 12:00am
BDS defuses seven rockets in Peshawar

BDS defuses seven rockets in Peshawar

Police have claimed that they have thwarted major terror bid on eve of Ashura by defusing seven live RPG rockets recovered from a Nullah in Sarband's Achini area of Peshawar. According to reports, the locals saw rockets near Achini Adda on 10th Moharram a
Published 14 Oct, 2016 12:00am
Auto-parts cleared under formal legal process: Customs

Auto-parts cleared under formal legal process: Customs

The management of Peshawar Dry Port has clarified that imported auto-parts were cleared under a formal legal process from the dry port and the chases numbers of 90% auto-parts were abolished before arrival and if someone comes along with chases numbers th
Published 14 Oct, 2016 12:00am
IMF for reducing gas system losses

IMF for reducing gas system losses

The International Monetary Fund (IMF) has recommended to the government to reduce high Unaccounted for Gas (UfG), regularly review gas tariff notification to ensure cost recovery and strengthen the regulatory framework. This was stated in the 12th and fin
Published 14 Oct, 2016 12:00am
IGP appreciates KP police for maintaining peace during Muharram

IGP appreciates KP police for maintaining peace during Muharram

The peaceful observance of Muharram throughout KP reflects the effective strategy on part of the provincial police. During Muharram the quantum of threat was very high and it was frequently apprehended that the militants will target Muharram Majalis and p
Published 14 Oct, 2016 12:00am
Law and order situation: drone cameras becoming more significant

Law and order situation: drone cameras becoming more significant

The Unmanned Aerial Vehicles (UAVs), commonly known as drone cameras are becoming more significant in maintaining the law and order situation during large gatherings as authorities gave credence to the use of this technology for peaceful observance of Ash
Published 14 Oct, 2016 12:00am
Youm-e-Ashur observed in KP amid tight security

Youm-e-Ashur observed in KP amid tight security

Likewise other parts of the country, Youm-e-Ashur was observed peacefully amid tight security arrangements in Khyber Pakhtunkhwa. As many as 12 Zuljinah processions of 10th Muharram was taken out inside the city to pay rich glowing tributes to Hazrat Imam
Published 14 Oct, 2016 12:00am
Asia's appeal: hearing adjourned

Asia's appeal: hearing adjourned

The Supreme Court Thursday adjourned the hearing of Asia Bibi's final appeal challenging death sentence for an indefinite period while Justice Iqbal Hameedur Rehman recused himself to hear the case. Asia Bibi, a Christian lady has been on the death row si
Published 14 Oct, 2016 12:00am
First-year admissions: MUET announces schedule for interviews

First-year admissions: MUET announces schedule for interviews

The management of Mehran University of Engineering and Technology Jamshoro Thursday announced the schedule of interviews of the successful candidates of pre-entry test for admissions in First Year Engineering, Architecture, City and Regional Planning of t
Published 14 Oct, 2016 12:00am
FPCCI elections: UBG welcomes nomination of Zubair Tufail

FPCCI elections: UBG welcomes nomination of Zubair Tufail

Members of United Business Group (UBG) has welcomed the decision of the group of nomination former Vice President of FPCCI Zubair Tufail as its candidate for the seat of President in upcoming election of FPCCI. The members expressed their confidence on th
Published 14 Oct, 2016 12:00am
KP seeks to cash in on CPEC opportunity

KP seeks to cash in on CPEC opportunity

Khyber-Pukhtunkhwa moved further on CPEC to ensure that full benefit from the China Pakistan Economic Corridor (CPEC) is secured for the people of KP in the long-term as well as medium-term. With the establishment of peace in the province and FATA and the
Published 14 Oct, 2016 12:00am
Islamabad lockdown: PTI mulling holding protest on working day

Islamabad lockdown: PTI mulling holding protest on working day

In a bid to avoid arrest of its workers and leaders ahead of its planned antigovernment protest on October 30, Pakistan Tehreek-e-Insaf (PTI) is considering to reviewing date of Islamabad lockdown. The sources within PTI said that the decision to review t
Published 14 Oct, 2016 12:00am
Pakistan star footballer Shahlyla dies in accident

Pakistan star footballer Shahlyla dies in accident

Pakistan women's football team striker Shahlyla Baloch died in a car crash here late Wednesday night. She was 20. According to police sources, the incident took place in Defence Phase- VIII when her car hit against a pole near the Emaar building. Baloch w
Published 14 Oct, 2016 12:00am
Foreign missions: Pakistan to set up special Kashmir Desk

Foreign missions: Pakistan to set up special Kashmir Desk

Prime Minister of Azad Jammu and Kashmir Raja Farooq Haider Khan said that all political forces in Azad Kashmir and Pakistan are unanimous for the cause of Kashmir and his government would make all possible efforts to highlight the issue at international
Published 14 Oct, 2016 12:00am
OGDCL's crude oil output touches highest level

OGDCL's crude oil output touches highest level

The state owned Oil and Gas Development Company Limited (OGDCL) has become largest crude oil and natural gas producer with achieving highest ever crude oil production of 48,767 barrels a day and over one Billion Cubic Feet per Day (BCFD) of gas.
Published 14 Oct, 2016 12:00am
Government trying to revive export sector: Dar

Government trying to revive export sector: Dar

Finance Minister Ishaq Dar on Thursday said the government is trying to boost exports and steps are under consideration to revive this sector. Talking to President FPCCI Abdul Rauf Alam he said the government is aware of the problems of the business commu
Published 14 Oct, 2016 12:00am
Drive against corruption will continue: JI chief

Drive against corruption will continue: JI chief

Chief of Jamaat-e-Islami, Pakistan, Senator Sirajul Haq has said that in Pakistan, the competition was not among the political parties but between the tyrants and the oppressed as the former comprising feudal lords and capitalists were controlling the sta
Published 14 Oct, 2016 12:00am
10th Muharram: main procession culminates peacefully

10th Muharram: main procession culminates peacefully

Like other parts of the country, the Muslims observed Ashura procession in the city to commemorate the sacrifices of Imam Hussain (AS) and his loyal companions in Karbala. Various small and large Alam processions that were taken out from Nishtar Park and
Published 14 Oct, 2016 12:00am
Three members of Muttahida join PSP

Three members of Muttahida join PSP

Three members of Muttahida Qaumi Movement (MQM) on Thursday joined Mustafa Kamal led Pak Sarzameen Party (PSP). Accompanied by Mustafa Kamal, Shakir Ali, Naik Muhammad and Saleem Tajik announced their decision during a press conference. Mustafa Kamal said
Published 14 Oct, 2016 12:00am
Spanish Diplomat found dead mysteriously

Spanish Diplomat found dead mysteriously

A Spanish Diplomat on Thursday was found dead under mysterious circumstances at his residence in Sector F-7/2 of the federal capital. Police said that 60-year-old deceased, identified as John Jenner, who was working as Consular Attaché at the Spanish Emba
Published 14 Oct, 2016 12:00am
Rabbani rejects reference against MQM senators

Rabbani rejects reference against MQM senators

Chairman Senate Mian Raza Rabbani on Thursday rejected a reference filed by Molvi Iqbal Haider, seeking disqualification of senators belonging to Muttahida Qaumi Movement (MQM). "Chairman Senate has observed that cogent grounds are available to reject the
Published 14 Oct, 2016 12:00am
Youm-e-Ashur: Punjab CM lauds LEAs, others for maintaining peace

Youm-e-Ashur: Punjab CM lauds LEAs, others for maintaining peace

Punjab Chief Minister Muhammad Shahbaz Sharif has appreciated the performance of the Provincial Cabinet Committee on Law and Order, Police, administration and law-enforcement agencies regarding foolproof security arrangements in the province for the prote
Published 14 Oct, 2016 12:00am
KP chief minister announces 'Tehsil status' for Darband, Mansehra

KP chief minister announces 'Tehsil status' for Darband, Mansehra

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has announced Darband of District Manserha as a Tehsil to increase the number of tehsils in district to five. He also announced a college for the area to be included in the next ADP, a primary school and ci
Published 14 Oct, 2016 12:00am
Award for Dar: IMF clearly distances itself from publication

Award for Dar: IMF clearly distances itself from publication

The International Monetary Fund (IMF) has categorically denied any involvement with the 'Emerging Markets' magazine and stated that it is an independent publication. On October 8, 2016 Prime Minister's Office had stated: "Emerging Markets, the newspaper o
Published 14 Oct, 2016 12:00am
Khattak directs expediting rehabilitation work

Khattak directs expediting rehabilitation work

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has directed the authorities concerned to expedite work on the rehabilitation of infrastructure in Shangla affected by recent flood. He said Rs 220 million for rehabilitation of roads and Rs 200 million for
Published 14 Oct, 2016 12:00am
Russian delegates likely to participate in IDEAS 2016

Russian delegates likely to participate in IDEAS 2016

The government is anticipating that 324 delegates from 100 foreign countries including Russia would participate in IDEAS 2016, scheduled to be held on November 22 -25. Officials of Defence Depo briefed the members of Senate Standing Committee on Defence P
Published 14 Oct, 2016 12:00am
HR violation in IHK: Pakistan hands over dossier to President UNGA

HR violation in IHK: Pakistan hands over dossier to President UNGA

Senator Mushahid Hussain and Dr Shezra Mansab Ali, MNA, who are currently visiting the United States as Prime Minister Nawaz Sharif's Envoys on Kashmir met President of UN General Assembly Peter Thomson on Wednesday and handed over a dossier about human r
Published 14 Oct, 2016 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai Futures Exchange copper slipped 0.8 percent to 37,630 yuan ($5,643) a tonne on Thursday after China's September trade data showed a sharp decline in exports, raising fresh concerns about the health of the world's No 2 economy and biggest user of
Published 14 Oct, 2016 12:00am
Copper falls nearly three percent on weak China trade data
Currency

Copper falls nearly three percent on weak China trade data

Copper prices slipped almost three percent earlier on Thursday, after China's September trade data showed a sharp decline in imports, raising new concerns about demand in the world's biggest user of metals. China's imports of copper last month fell by 26.
Published 14 Oct, 2016 12:00am
Rubber slips

Rubber slips

Benchmark Tokyo rubber futures extended declines on Thursday as the market came under pressure from falling oil prices and weak Shanghai futures. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, erased
Published 14 Oct, 2016 12:00am
Ivory Coast cocoa buyers see slow start to 2016/17 season

Ivory Coast cocoa buyers see slow start to 2016/17 season

Ivory Coast's 2016/17 cocoa season faces a slow start as fewer beans arrived at the country's ports ahead of the new trading period when a new likely higher price takes effect due to a poor mid-crop harvest, buyers said on Tuesday. The season starts on Oc
Published 14 Oct, 2016 12:00am
Palm oil off two-week high on profit-taking
Currency

Palm oil off two-week high on profit-taking

Malaysian palm oil futures declined at Thursday's close as the market corrected following a two-day rally and higher output forecasts by industry analysts weighed on traders' sentiment. Benchmark palm oil futures for December on the Bursa Malaysia Derivat
Published 14 Oct, 2016 12:00am
Gold holds modest gains in New York

Gold holds modest gains in New York

Gold held modest gains on Wednesday, after minutes from the Federal Reserve's September meeting showed several voting policymakers judged an interest rate hike would be warranted "relatively soon" if the US economy continued to improve. The minutes of the
Published 14 Oct, 2016 12:00am
Gold soars in Asia

Gold soars in Asia

Gold edged up on Thursday on a weaker dollar and as equities plunged on soft Chinese trade data that stoked concerns about the health of the world's No 2 economy. The bullion rose even after minutes from a US Federal Reserve meeting last month signalled t
Published 14 Oct, 2016 12:00am
Gold ticks higher in European trade

Gold ticks higher in European trade

Gold prices edged higher on Thursday as the dollar declined and after world shares slipped following renewed worries about China's economy. The dollar index was down 0.3 percent, making gold more affordable to buyers using other currencies. "Gold prices a
Published 14 Oct, 2016 12:00am
US MIDDAY: wheat futures soar

US MIDDAY: wheat futures soar

US wheat futures jumped about 5 percent on Thursday as a flurry of export deals prompted funds to cover short positions, analysts said. Corn futures rose on short-covering and firm cash markets despite the ongoing US harvest, while soyabeans followed the
Published 14 Oct, 2016 12:00am
US MIDDAY: gold moves up

US MIDDAY: gold moves up

Gold prices edged higher on Thursday as the dollar declined and world shares slipped following renewed worries about China's economy. The dollar index was down 0.3 percent, making gold more affordable to buyers using other currencies. "Gold prices are hav
Published 14 Oct, 2016 12:00am
Cotton hits over two-week high
Cotton

Cotton hits over two-week high

Cotton futures hit their highest level in more than two weeks on Thursday, on a weaker dollar and follow-through buying after a bullish World Agricultural Supply and Demand Estimates (WASDE) report pushed prices up over 3 percent on Wednesday. "Overnight,
Published 14 Oct, 2016 12:00am
Oil up; refined products draw offset US crude build

Oil up; refined products draw offset US crude build

Oil prices settled up on Thursday after a US government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks. Crude prices fell initially when the US Energy Information Administration (EIA) said crude stock
Published 14 Oct, 2016 12:00am
PM's bold approach towards Kashmir

PM's bold approach towards Kashmir

This is apropos a Business Recorder news item "PM tells India's leadership: Don't equate freedom fighters with terrorists" carried by the newspaper on Tuesday. The prime minister seems to have taken a rather bold approach to the Kashmir issue by in
Published 14 Oct, 2016 12:00am
Ruin comes when...
Currency

Ruin comes when...

Ruin comes when the trader, whose heart is lifted up by wealth, becomes ruler-Plato in Republic Since November 1990, when Muhammad Nawaz Sharif became Prime Minister of Pakistan for the first time, the culture of loot, plunder, corruption, tax evasion and
Published 14 Oct, 2016 12:00am
Radical Machiavellianism

Radical Machiavellianism

Three years after Alexander the Great aborted his invasion of South Asia east of the Indus around 321 BC, Hindu philosopher, economist and jurist named Chanakhya (also called Kautilya) wrote the Arthasastra. Written in Sanskrit it is the oldest treatise i
Published 14 Oct, 2016 12:00am
The mega rip-offs

The mega rip-offs

In my earlier article The Gravy Trains of Pakistan (Business Recorder September 1, 2016) I had identified the Public Financial Management System (PFMS) of Pakistan as the fountain head of corruption in Pakistan. This year's budgeted $65 billion will flow
Published 14 Oct, 2016 12:00am
The ECL should be withdrawn

The ECL should be withdrawn

For those within the media and without concerned about the increasing trend of threats to press freedom, the episode concerning Dawn and its Assistant Editor Cyril Almeida will only reinforce these fears. The journalist in question has had his name placed
Published 14 Oct, 2016 12:00am
The issuance of Sukuk
Currency

The issuance of Sukuk

It is no secret that Pakistan's appetite to borrow increasingly from the international financial market would continue to grow until and unless the country is not able to remove the structural imbalance from its external sector. Resultantly, the count
Published 14 Oct, 2016 12:00am
Thailand's beloved king dies at 88

Thailand's beloved king dies at 88

Thailand's King Bhumibol Adulyadej, the world's longest-reigning monarch, has died at the age of 88, the palace announced Thursday, leaving a divided nation bereft of a rare figure of unity. US President Barack Obama led global tributes to Bhumibol, whose
Published 14 Oct, 2016 12:00am
Thailand's beloved king dies at 88

Thailand's beloved king dies at 88

Thailand's King Bhumibol Adulyadej, the world's longest-reigning monarch, has died at the age of 88, the palace announced Thursday, leaving a divided nation bereft of a rare figure of unity. US President Barack Obama led global tributes to Bhumibol, whose
Published 14 Oct, 2016 12:00am
Bourse''s stake: SECP to set up divestment committee

Bourse''s stake: SECP to set up divestment committee

The Securities and Exchange Commission of Pakistan (SECP) will constitute a divestment committee to facilitate and complete the process of divestment of shares of the stock exchange in a transparent manner keeping in view interest of the capital market. S
Published 14 Oct, 2016 12:00am
Bourse's stake: SECP to set up divestment committee

Bourse's stake: SECP to set up divestment committee

The Securities and Exchange Commission of Pakistan (SECP) will constitute a divestment committee to facilitate and complete the process of divestment of shares of the stock exchange in a transparent manner keeping in view interest of the capital market. S
Published 14 Oct, 2016 12:00am
Bourse's stake: SECP to set up divestment committee

Bourse's stake: SECP to set up divestment committee

The Securities and Exchange Commission of Pakistan (SECP) will constitute a divestment committee to facilitate and complete the process of divestment of shares of the stock exchange in a transparent manner keeping in view interest of the capital market. S
Published 14 Oct, 2016 12:00am
US strikes Huthi rebel targets in Yemen: Pentagon

US strikes Huthi rebel targets in Yemen: Pentagon

The United States on Thursday bombed three radar sites controlled by Huthi rebels in Yemen, the first direct US strike against the group following attacks against American warships last week, the Pentagon said. President Barack Obama authorized the Tomaha
Published 14 Oct, 2016 12:00am
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