News Archives for Print - 2016-10-17 - Business Recorder

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Print - 2016-10-17

'Sugar has become a political commodity,' says Chairman - Pakistan Sugar Mills Association

Cotton

'Sugar has become a political commodity,' says Chairman - Pakistan Sugar Mills Association

BR Research recently sat down with Pakistan Sugar Mills Association (PSMA) Chairman Javed Kayani to hear his take on Pakistan's sugar industry. Mr. Javed is a veteran of the sugar industry and possesses considerable experience of the overall value cha

Published 17 Oct, 2016 12:00am

Leaked or fed?

Leaked or fed?

The Cyril Almeida affair became the top story in our media; the reason there for was that by filing a disputed report about a close-door meeting between the government and Army top-brass, his name was placed on the ECL. Indeed threatening journalistic fre

Published 17 Oct, 2016 12:00am

Oil majors experiment with technology to weather crisis

Oil majors experiment with technology to weather crisis

Oil majors including Statoil, Shell and Chevron are experimenting with various technologies, from drones and drill design to data management, to drive down costs and weather a deep downturn.

Published 17 Oct, 2016 12:00am

The IMF review: It's all in the footnotes!

The IMF review: It's all in the footnotes!

A few hours after the International Monetary Fund (IMF) uploaded the twelfth and final review under the 6.64 billion dollar Extended Fund Facility (EFF) on its website, mission leader Harald Finger held a video conference with the local media from the Fun

Published 17 Oct, 2016 12:00am

The unemployment challenge

The unemployment challenge

Mohsin Iqbal in a letter to the editor of Business Recorder had asked me to write about 'the unemployment challenge'. This article is in response to the request.

Published 17 Oct, 2016 12:00am

Britain's unsurprising decision

Britain's unsurprising decision

London's Metropolitan police have announced closing the money laundering case against MQM supremo Altaf Hussain saying "there is not a realistic prospect of a successful prosecution under the UK law, therefore the investigation is not complete and no

Published 17 Oct, 2016 12:00am

Imprudent decision

Currency

Imprudent decision

The news of shifting some offices of the State Bank to Lahore is quite disturbing for the residents of Karachi as well as various business organisations located in the metropolis and the Sindh government. Warning the federal government about the implicati

Published 17 Oct, 2016 12:00am

Europe steers lander towards Mars surface

Europe steers lander towards Mars surface

Europe sent a tiny lander on a three-day, million-kilometre (621,000-mile) trek to the Martian surface Sunday to test-drive technology for a daring mission to scout the Red Planet for evidence of life. There were nervous moments for ground controllers whe

Published 17 Oct, 2016 12:00am

US, Britain and UN demand Yemen cease-fire within days

US, Britain and UN demand Yemen cease-fire within days

The United States, Britain and the UN peace envoy to Yemen on Sunday urged the warring parties in the country's civil war to declare a cease-fire they said could start within days. The United Nations envoy, Ismail Ould Cheikh Ahmed, said: "We are here to

Published 17 Oct, 2016 12:00am

Serbs arrested for Montenegro vote 'attack plans'

Serbs arrested for Montenegro vote 'attack plans'

Montenegro said it had arrested 20 Serbs for planning to carry out attacks after voting wraps up in the Balkan nation's tense parliamentary elections on Sunday. The pro-Russian opposition - which opposes plans to anchor Montenegro in NATO - lashed the ann

Published 17 Oct, 2016 12:00am

WikiLeaks releases Clinton speeches for Goldman Sachs

WikiLeaks releases Clinton speeches for Goldman Sachs

Three of Hillary Clinton's paid speeches to Goldman Sachs were released Saturday by WikiLeaks, casting an awkward spotlight on the Democrat's ties to the biggest players on Wall Street in the final stretch of the White House race. Clinton's campaign did n

Published 17 Oct, 2016 12:00am

World's oldest giant panda in captivity dies in Hong Kong

World's oldest giant panda in captivity dies in Hong Kong

The world's oldest ever giant panda in captivity died on Sunday aged 38 at a Hong Kong theme park, officials said. Jia Jia was put down after her health rapidly deteriorated over the last two weeks leaving her unable to walk without difficulty, a statemen

Published 17 Oct, 2016 12:00am

Trump challenges Clinton to drug test, says vote 'rigged'

Trump challenges Clinton to drug test, says vote 'rigged'

Donald Trump has challenged his rival Hillary Clinton to a drug test before their next debate, suggesting the Democrat was "pumped up" on performance-enhancing drugs in a stunning new twist to the brutal White House race.

Published 17 Oct, 2016 12:00am

Kuwait's emir dissolves parliament over fuel price dispute

Kuwait's emir dissolves parliament over fuel price dispute

Kuwait's emir dissolved parliament Sunday following tensions between lawmakers and the government over a petrol price hike, setting the stage for early elections within two months. The surprise move came after lawmakers in the oil-rich emirate strongly op

Published 17 Oct, 2016 12:00am

PESCO chief inaugurates new feeder in Nawan Kallay

PESCO chief inaugurates new feeder in Nawan Kallay

Chief Executive of Peshawar Electric Company (PESCO) Anwarul Haq Yousafzai inaugurated "New Nawan Kallay-2 Feeder" at a ceremony at 132KV Kohat Road Grid Station to ensure smooth supply of power to the said village.

Published 17 Oct, 2016 12:00am

KP CM announces package for Haripur

KP CM announces package for Haripur

KP Chief Minister Pervez Khattak Saturday announced a comprehensive development package for district Haripur of the Hazara Division. He was addressing three different public gatherings at Ghazi, Haripur and Havalian during his daylong visit to the distric

Published 17 Oct, 2016 12:00am

Western route: Khattak urges China's ambassador to clarify position

Western route: Khattak urges China's ambassador to clarify position

Khyber Pakhtunkhwa chief minister Pervez Khattak said on Sunday that he or his government had no differences with the Chinese ambassador but the respectable envoy should make it clear that western route was an integral part of China-Pakistan Economic Corr

Published 17 Oct, 2016 12:00am

Two fraudsters held; four cars recovered

Two fraudsters held; four cars recovered

Special Investigation Unit (SIU) of Islamabad police arrested two fraudsters for preparing fake registration books of stolen vehicles and recovered four vehicles from them, police said on Sunday. According to details, a team of SIU traced and apprehended

Published 17 Oct, 2016 12:00am

CPEC projects: Senate body to discuss impediments today

CPEC projects: Senate body to discuss impediments today

The Senate Standing Committee on Planning, Development and Reforms will discuss impediments on China Pakistan Economic Corridor (CPEC) and scrapping of projects at advance stages here on today (October 17).

Published 17 Oct, 2016 12:00am

Arshid Mehmood Kiani appointed Deputy AG

Arshid Mehmood Kiani appointed Deputy AG

Arshid Mehmood Kiani, a notable senior lawyer, has been appointed as Deputy Attorney General for Pakistan (DAG). According to a notification of the Ministry of Law and Justice Division, his appointment to the post of senior law officer (General-IV) was ma

Published 17 Oct, 2016 12:00am

Protest drive: Imran urges people to make donations

Protest drive: Imran urges people to make donations

Imran Khan Chief of Pakistan Tehreek-e-Insaf has appealed for donations over its fight against 'corruption' of Nawaz government ahead of the march to Islamabad. They have requested party workers and members to make a minimum donation of hundred rupees, an

Published 17 Oct, 2016 12:00am

CNG stations: Ministry optimistic about smooth gas supply in winter

CNG stations: Ministry optimistic about smooth gas supply in winter

The Ministry of Petroleum and Natural Resources is optimistic about ensuring smooth supply of gas to Compressed Natural Gas (CNG) stations during upcoming winter season after import of LNG.

Published 17 Oct, 2016 12:00am

KP to establish Higher Education Academy of Research & Training

KP to establish Higher Education Academy of Research & Training

The provincial government of Khyber Pakhtunkhwa is going to establish Higher Education Academy of Research and Training for imparting training to the academic and managerial staff of the Higher Education, Archives and Libraries Department.

Published 17 Oct, 2016 12:00am

PML-N's massive rally in Mardan aimed at countering PTI challenge in KP

PML-N's massive rally in Mardan aimed at countering PTI challenge in KP

Pakistan Muslim League-Nawaz (PMLN) hosted a public meeting in Mardan to show its mass support against the Pakistan Tehreek-i-Insaf-led government in Khyber Pakhtunkhwa. More than 100,000 people attended the PMLN gathering.

Published 17 Oct, 2016 12:00am

Tens of millions face poverty unless cities plan for disasters: World Bank

Tens of millions face poverty unless cities plan for disasters: World Bank

Climate change could plunge tens of millions of city dwellers into poverty in the next 15 years, threatening to undo decades of development efforts, the World Bank said on Wednesday.

Published 17 Oct, 2016 12:00am

By 2100, storms will unleash more floods in New York

By 2100, storms will unleash more floods in New York

Extreme floods unleashed by massive storms on the scale of Hurricane Sandy in 2012 are expected to rise sharply in the coming decades in the New York City area, researchers said on Monday.

Published 17 Oct, 2016 12:00am

WHO calls for higher taxes on sugary drinks

WHO calls for higher taxes on sugary drinks

Governments should tax sugary drinks to fight the global epidemics of obesity and diabetes, the World Health Organisation said on Tuesday. A 20 percent price increase could reduce consumption of sweet drinks by the same proportion, the WHO said in "Fiscal

Published 17 Oct, 2016 12:00am

Experiment in monkeys raises hopes of 'functional cure' for HIV

Experiment in monkeys raises hopes of 'functional cure' for HIV

A new drug combination helped stave off a monkey version of HIV for nearly two years after stopping all treatments, raising hopes for a functional cure for HIV, U.S. researchers said on Thursday.

Published 17 Oct, 2016 12:00am

Study suggests comet strike's link to age-old warming event

Study suggests comet strike's link to age-old warming event

Scientists have found direct evidence that a comet struck the Earth more than 50 million years ago, coinciding with a warm period often compared with today's global warming, a report said on Thursday.

Published 17 Oct, 2016 12:00am

Scientists seek to map all human cells in vast atlas

Scientists seek to map all human cells in vast atlas

Scientists launched a global initiative on Friday to map out and describe every cell in the human body in a vast atlas that could transform researchers' understanding of human development and disease.

Published 17 Oct, 2016 12:00am

360 Phone's Q5, Q5 Plus models embark PEARL by OT's eSE

360 Phone's Q5, Q5 Plus models embark PEARL by OT's eSE

OT (Oberthur Technologies), a leading global provider of embedded security software products and services, on Oct 11 announced that 360 Group, a leading Internet, mobile and security company in China, selected OT's embedded secure element (eSE), PEARL by

Published 17 Oct, 2016 12:00am

Robots organise your photos, so you can procrastinate

Robots organise your photos, so you can procrastinate

If you're like many people, you have thousands of photos on your phone, long forgotten after you've posted a few on Instagram or Facebook.

Published 17 Oct, 2016 12:00am

Personal computer sales continue to slide

Personal computer sales continue to slide

Industry reports released on Tuesday showed that shipments of personal computers slid anew in the recently ended quarter as lifestyles continued to shift to smartphones and tablets.

Published 17 Oct, 2016 12:00am

Apple to open second research centre in China

Apple to open second research centre in China

Apple will open its second research and development centre in China in the southern city of Shenzhen, the US technology giant said Wednesday, as it seeks to improve sales in the crucial market. California-based Apple announced in August a similar facility

Published 17 Oct, 2016 12:00am

Google, Facebook team on undersea cable to Hong Kong

Google, Facebook team on undersea cable to Hong Kong

Google and Facebook on Wednesday announced plans to work with a China Soft Power Holdings subsidiary to connect Los Angeles and Hong Kong with a high-capacity internet cable. The Pacific Light Cable Network will stretch 12,800 kilometers (8,000 miles), cr

Published 17 Oct, 2016 12:00am

Chipper BT & Chipper 2X BT connect iPhone 7 by bluetooth

Chipper BT & Chipper 2X BT connect iPhone 7 by bluetooth

Apple's recently released iPhone 7 is the first Apple phone without an audio port. This long awaited feature will allow mobile merchants who love their iPhones to connect with BBPOS Chipper BT and Chipper 2X BT without plugging a device into their phone.

Published 17 Oct, 2016 12:00am

Nokia brings assurance capabilities to its NSP

Nokia brings assurance capabilities to its NSP

Nokia is expanding its carrier SDN offering by adding assurance capabilities to its Network Services Platform (NSP). Combined with the NSP's automation and network control features, assurance equips operators with the tools to establish and maintain healt

Published 17 Oct, 2016 12:00am

Facebook launches intra-office 'Workplace' network

Facebook launches intra-office 'Workplace' network

Social network giant Facebook on Monday launched new global product Workplace, a platform that it hopes will replace intranet, mailbox and other internal communication tools used by businesses world-wide.

Published 17 Oct, 2016 12:00am

Delta Air Lines third quarter profit tops estimates

Delta Air Lines third quarter profit tops estimates

Delta Air Lines Inc on Thursday reported a third-quarter profit that topped expectations and said moves to curb its growth in flight capacity will help halt the decline of a closely watched revenue measure.

Published 17 Oct, 2016 12:00am

Orange Egypt seeks 4G licence under new terms

Currency

Orange Egypt seeks 4G licence under new terms

Orange Egypt has submitted a request for a licence to operate fourth-generation mobile phone services in the country, the telecom regulator said on Thursday, the latest twist in a stand-off between operators and the regulator over the terms.

Published 17 Oct, 2016 12:00am

Crisis at Ericsson deepens as profits fall 94 percent

Crisis at Ericsson deepens as profits fall 94 percent

The crisis at Ericsson deepened on Wednesday when the world's biggest maker of mobile network equipment reported a 94 percent plunge in quarterly operating profit and tumbling sales at its core networks division.

Published 17 Oct, 2016 12:00am

Taiwan's TSMC raises 2016 revenue forecast after third quarter surge

Taiwan's TSMC raises 2016 revenue forecast after third quarter surge

Taiwan Semiconductor Manufacturing Co (TSMC) raised its forecast for 2016 revenue after setting new profit and sales records in the third quarter, as analysts said it was riding high on supplying parts for Apple Inc's new iPhone 7.

Published 17 Oct, 2016 12:00am

Goldman targets credit-card borrowers with new lending business

Goldman targets credit-card borrowers with new lending business

Goldman Sachs Group Inc has launched a new online lending business that targets borrowers saddled with credit card debt, the bank said on Thursday. The business, called Marcus by Goldman Sachs after 1869 founder Marcus Goldman, represents its first major

Published 17 Oct, 2016 12:00am

Honda Motor expands SUV production in US

Honda Motor expands SUV production in US

Honda Motor Co is expanding capacity for the new generation of its CR-V sport utility vehicle, shifting production to the United States from Mexico in a move that will intensify competition in one of the US auto industry's hottest segments.

Published 17 Oct, 2016 12:00am

Infosys cuts revenue target for second time as US election weigh

Currency

Infosys cuts revenue target for second time as US election weigh

India's second-largest software services exporter Infosys Ltd cut its fiscal-year revenue growth target for the second time in three months on an uncertain business outlook, sending its shares tumbling more than 5 percent.

Published 17 Oct, 2016 12:00am

Riyad Bank third quarter net profit drops 18.9 percent

Riyad Bank third quarter net profit drops 18.9 percent

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted an 18.9 percent fall in third-quarter net profit on Tuesday, missing analysts' forecasts as costs rose. The bank made 729 million riyals ($194.4 million) in the three months to Sept. 30, d

Published 17 Oct, 2016 12:00am

Riyad Bank third quarter net profit drops 18.9 percent

Riyad Bank third quarter net profit drops 18.9 percent

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted an 18.9 percent fall in third-quarter net profit on Tuesday, missing analysts' forecasts as costs rose. The bank made 729 million riyals ($194.4 million) in the three months to Sept. 30, d

Published 17 Oct, 2016 12:00am

Alcoa third quarter profit, revenue miss expectations

Alcoa third quarter profit, revenue miss expectations

Metals company Alcoa Inc on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but results missed expectations and its stock sank 10 percent.

Published 17 Oct, 2016 12:00am

Sagan retains world road race title

Sagan retains world road race title

Peter Sagan retained his world road race title in an exciting sprint finish in Doha on Sunday, edging Britain's Mark Cavendish into second. Slovakian Sagan, who also won in Richmond, USA, last year, said the result was "unbelievable".

Published 17 Oct, 2016 12:00am

Shanghai knight Murray gallops towards top ranking

Shanghai knight Murray gallops towards top ranking

Andy Murray demolished Roberto Bautista to win the Shanghai Masters without dropping a set as he edged closer to Novak Djokovic's world number one ranking on Sunday.

Published 17 Oct, 2016 12:00am

Pink ball pioneers target competitive Test cricket

Pink ball pioneers target competitive Test cricket

Top officials of the World Cricket Committee insisted on Sunday that innovations such as the pink ball day-night matches are aimed to make Test cricket competitive and fan-friendly. Mike Brearley, the former England captain and current chairman of the com

Published 17 Oct, 2016 12:00am

Wozniacki takes Hong Kong Open

Wozniacki takes Hong Kong Open

Former world number one Caroline Wozniacki beat unseeded French challenger Kristina Mladenovic to take the Hong Kong Open on Sunday after a battle of wills that lasted almost three hours. Wozniacki of Denmark, seeded fifth in the competition, stormed the

Published 17 Oct, 2016 12:00am

Swimmer dies in Hong Kong harbour race

Swimmer dies in Hong Kong harbour race

A swimmer drowned Sunday in Hong Kong and another was left in critical condition as they took part in the city's annual cross-harbour swim, which attracts world-class international competitors.

Published 17 Oct, 2016 12:00am

India post comprehensive win over New Zealand

India post comprehensive win over New Zealand

Bowlers set up India's comprehensive six-wicket win over New Zealand in the first one-day international as batting mainstay Virat Kohli anchored the hosts' chase in the low-scoring encounter in Dharamsala on Sunday. The hosts, who were chasing a modest 19

Published 17 Oct, 2016 12:00am

Marquez wins season as Rossi, Lorenzo crash in Japan

Marquez wins season as Rossi, Lorenzo crash in Japan

Marc Marquez grabbed his third world championship by winning the Japan Grand Prix Sunday with rivals Valentino Rossi and Jorge Lorenzo crashing out in a stunning surprise. The 23-year-old Honda rider became the youngest man to win three premier-class worl

Published 17 Oct, 2016 12:00am

Yasir becomes joint second fastest to 100 wickets

Yasir becomes joint second fastest to 100 wickets

Pakistan's leg-spinner Yasir Shah became the second joint-fastest bowler to take 100 wickets in all Test cricket on the fourth day of the first day-night match against West Indies in Dubai on Sunday.

Published 17 Oct, 2016 12:00am

Bishoo sparks Pakistan collapse in first Test

Bishoo sparks Pakistan collapse in first Test

Leg-spinner Devendar Bishoo took a career best six wicket haul but Pakistan still swelled their lead over West Indies on the fourth day of the first Test in Dubai on Sunday.

Published 17 Oct, 2016 12:00am

Strikes cause turbulence at Kenya Airways

Strikes cause turbulence at Kenya Airways

Kenya Airways, already facing financial difficulties and a threatened pilots' strike, cancelled five flights on Sunday after outsourced cabin crew walked off the job. While the stoppage only involved a small number of workers, it coincides with a deep mal

Published 17 Oct, 2016 12:00am

After phasing out scare, all eyes on ECB's stimulus plans

After phasing out scare, all eyes on ECB's stimulus plans

European Central Bank chief Mario Draghi will be under pressure this week to clarify the bank's stimulus plans after investors were spooked by talk of an end to its massive bond-buying programme.

Published 17 Oct, 2016 12:00am

Christie's seeks more 'realistic' auction prices

Christie's seeks more 'realistic' auction prices

The global economic slowdown combined with "selective demand" are pushing Christie's to seek more realistic prices on their collections, directors of the auction house said Sunday.

Published 17 Oct, 2016 12:00am

Spain admits it will miss deficit targets

Spain admits it will miss deficit targets

Spain, mired in political deadlock just as it emerges from a six-year recession, has admitted it will overshoot its budget deficit target next year. The finance ministry said it informed the European Commission that it provisionally forecast its budget de

Published 17 Oct, 2016 12:00am

Bypassing congress, Maduro decrees Venezuela budget

Bypassing congress, Maduro decrees Venezuela budget

Venezuelan President Nicolas Maduro issued the government's 2017 budget by decree Friday, bypassing the opposition-held legislature in a move that could deepen the country's economic crisis.

Published 17 Oct, 2016 12:00am

China third quarter growth seen steadying at 6.7 percent but property frenzy a worry

Currency

China third quarter growth seen steadying at 6.7 percent but property frenzy a worry

China's economy likely grew 6.7 percent in the third quarter from a year earlier, the same pace as in the previous quarter, as increased government spending and a property boom offset stubbornly weak exports, according to a Reuters poll of 58 economists.

Published 17 Oct, 2016 12:00am

Mentor Graphics working with BoA to explore sale

Mentor Graphics working with BoA to explore sale

Mentor Graphics Corp, a company that makes software for designing semiconductors, is working with Bank of America Corp to explore strategic alternatives, including a potential sale, according to people familiar with the matter.

Published 17 Oct, 2016 12:00am

Australian, New Zealand carriers ban recalled Samsung phone

Australian, New Zealand carriers ban recalled Samsung phone

Australian and New Zealand airlines barred the recalled Samsung Note 7 from all planes starting Sunday citing its "potential fire risk", after a similar ban was imposed by US officials.

Published 17 Oct, 2016 12:00am

BRICS agrees to fast-track new credit rating agency

BRICS agrees to fast-track new credit rating agency

The BRICS nations agreed on Sunday to fast-track the setting up of their own credit-rating agency to better cater to developing economies, rivalling existing ones based in Western countries. Prime Minister Narendra Modi said they agreed to move ahead on t

Published 17 Oct, 2016 12:00am

Global economy in precarious state, Xi tells BRICS summit

Global economy in precarious state, Xi tells BRICS summit

China's President Xi Jinping warned Sunday that the global economy remained in a precarious condition as leaders of the BRICS group of nations tried to find ways to fire up growth in the troubled bloc.

Published 17 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 Sunday. 78.40-78.40 (previous 78.40-78.40).

Published 17 Oct, 2016 12:00am

US SEC approves fund liquidity rules, goes easy on ETFs

US SEC approves fund liquidity rules, goes easy on ETFs

The top US securities regulator on Thursday approved rules designed to protect mutual fund investors from the effects of a sudden selloff, but it left for another day some of the dicier issues involved.

Published 17 Oct, 2016 12:00am

US SEC approves fund liquidity rules, goes easy on ETFs

US SEC approves fund liquidity rules, goes easy on ETFs

The top US securities regulator on Thursday approved rules designed to protect mutual fund investors from the effects of a sudden selloff, but it left for another day some of the dicier issues involved.

Published 17 Oct, 2016 12:00am

Foreigners cut down on emerging Asia bonds on belief US rate hike coming

Foreigners cut down on emerging Asia bonds on belief US rate hike coming

Foreign investors have cut holdings in most emerging Asian government bonds so far this month on expectations that US interest rates will rise in December and that other major central banks will not ease further.

Published 17 Oct, 2016 12:00am

Foreigners cut down on emerging Asia bonds on belief US rate hike coming

Foreigners cut down on emerging Asia bonds on belief US rate hike coming

Foreign investors have cut holdings in most emerging Asian government bonds so far this month on expectations that US interest rates will rise in December and that other major central banks will not ease further.

Published 17 Oct, 2016 12:00am

Daily currency trading volumes jumped to $5 trillion

Currency

Daily currency trading volumes jumped to $5 trillion

Average daily trading in the global currency market jumped to $4.99 trillion in September, up almost 7 percent from the previous month, data from settlement system CLS showed on Thursday. That was also higher than the $4.81 trillion daily average in the s

Published 17 Oct, 2016 12:00am

Fed, Brazil reforms likely to sustain Latam equity rally

Fed, Brazil reforms likely to sustain Latam equity rally

Latin American stocks will keep rising in the coming year, with investors snapping up Brazilian shares on hopes a budget reform will bring down borrowing costs, a Reuters poll showed.

Published 17 Oct, 2016 12:00am

Gulf markets fall across region, NCB earnings hit Saudi index

Gulf markets fall across region, NCB earnings hit Saudi index

The performance of banking shares weighed on Saudi Arabia's market index on Sunday after the largest listed bank reported profits below analysts' expectations, while indexes for other markets in the region also fell.

Published 17 Oct, 2016 12:00am

Saudi Arabia firms on FX peg in bond roadshow

Currency

Saudi Arabia firms on FX peg in bond roadshow

Saudi Arabia said it would do anything necessary to defend the riyal currency's peg against the US dollar as it began meeting investors before its first international sovereign bond sale, according to people who attended the meetings.

Published 17 Oct, 2016 12:00am

Saudi Arabia firms on FX peg in bond roadshow

Currency

Saudi Arabia firms on FX peg in bond roadshow

Saudi Arabia said it would do anything necessary to defend the riyal currency's peg against the US dollar as it began meeting investors before its first international sovereign bond sale, according to people who attended the meetings.

Published 17 Oct, 2016 12:00am

It's lonely at the top for FTSE 100 index

Currency

It's lonely at the top for FTSE 100 index

As sterling plumbs the depths, foreign investors are withdrawing from British stocks and leaving domestic funds to push the benchmark bluechip index to record highs - for now. But some investors are growing nervous about how long the sterling-based funds,

Published 17 Oct, 2016 12:00am

Two European IPO cancellations temper hopes of market upturn

Two European IPO cancellations temper hopes of market upturn

Two European companies cancelled plans to IPO on Tuesday due to unfavourable conditions, joining a growing number of firms to cancel listings this year amid disappointing debuts for many that did brave choppy markets.

Published 17 Oct, 2016 12:00am

Wall Street week ahead: investors seek profit turnaround to drive stocks higher

Wall Street week ahead: investors seek profit turnaround to drive stocks higher

A heavy slate of US corporate earnings could set the course next week for a wavering US stock market. Better-than-expected big bank earnings on Friday somewhat helped shore up Wall Street's confidence, which has been shaken by a rocky beginning to third-q

Published 17 Oct, 2016 12:00am

5.2 quake rattles northwestern Greece, no injuries

5.2 quake rattles northwestern Greece, no injuries

A 5.2-magnitude earthquake struck the northwestern Greek city of Ioannina, the Athens Observatory's geodynamic institute said Sunday, causing minor damage but no injuries. The earthquake struck at 2014 GMT on Saturday and was followed by numerous aftersho

Published 17 Oct, 2016 12:00am

Bangladesh hangs Islamist extremist over 2005 blast

Bangladesh hangs Islamist extremist over 2005 blast

Prison authorities in Bangladesh's southern city of Khulna on Sunday executed a senior Islamic extremist whose banned group has been linked to the murder of foreign hostages, police said. Asadul Islam, 42, a leader of the outlawed Jamayetul Mujahideen Ban

Published 17 Oct, 2016 12:00am

Huge press freedom rally in Budapest after top daily closed

Huge press freedom rally in Budapest after top daily closed

Several thousand people marched in Budapest Sunday to demand press freedom and protest against the sudden closure of Hungary's top-selling political daily Nepszabadsag which had criticised the government.

Published 17 Oct, 2016 12:00am

Putin dismisses US hacking claims as pre-election ploy

Putin dismisses US hacking claims as pre-election ploy

President Vladimir Putin on Sunday said US claims Russia had directed cyber attacks against Washington sought to "distract" American voters from domestic problems.

Published 17 Oct, 2016 12:00am

Suicide bombing targeting Shias kills two in Baghdad

Suicide bombing targeting Shias kills two in Baghdad

A suicide bombing targeting Shia Muslims killed at least two people in Baghdad on Sunday, officials said, a day after the deadliest attack to hit the Iraqi capital in months. The bombing in central Baghdad, which targeted a tent where Shias distribute foo

Published 17 Oct, 2016 12:00am

China to launch manned spacecraft

China to launch manned spacecraft

China will launch a manned space mission on Monday, official media said, as the Asian giant works towards setting up its own space station. Chinese astronauts Jing Haipeng and Chen Dong will be on board the Shenzhou-11 spacecraft as it blasts off from the

Published 17 Oct, 2016 12:00am

Paragliders fill Bali's skies for new world record

Paragliders fill Bali's skies for new world record

More than 100 multi-coloured paragliders filled the sky over Indonesia's Bali island Sunday, as they set a new world record for the largest number of gliders flying at the same time. They set off from rugged clifftops in the south of the resort island and

Published 17 Oct, 2016 12:00am

Thousands flee as typhoon lashes Philippines

Thousands flee as typhoon lashes Philippines

Typhoon Sarika lashed the main Philippine island of Luzon on Sunday, flattening homes and toppling trees and power pylons as more than 12,000 people fled to safer ground, officials said. Minor landslides and flooding were also reported a day after the cyc

Published 17 Oct, 2016 12:00am

Syria rebels capture emblematic IS stronghold Dabiq

Syria rebels capture emblematic IS stronghold Dabiq

Syrian rebels dealt a major symbolic blow to the Islamic State group on Sunday by capturing the town of Dabiq where the jihadists had promised an apocalyptic battle.

Published 17 Oct, 2016 12:00am

Somali government shuts down newspaper, arrests editor

Somali government shuts down newspaper, arrests editor

Somali security forces shut down a newspaper and arrested an editor, the Somali journalists' union said on Sunday, the latest crackdown in what reporters say is a climate of intimidation. Intelligence officers stormed the offices of Xog Ogaal, confiscatin

Published 17 Oct, 2016 12:00am

Afghanistan burns five tonnes of drugs, alcohol in single blaze

Afghanistan burns five tonnes of drugs, alcohol in single blaze

Afghan authorities on Sunday burned around five tonnes of heroin, hashish, drug-making chemicals and alcohol in a show of their commitment to curbing drug trafficking.

Published 17 Oct, 2016 12:00am

US, Britain mulling sanctions over Syria siege

US, Britain mulling sanctions over Syria siege

The United States and Britain warned on Sunday that Western allies were considering imposing sanctions against economic targets in Syria and Russia over the siege of Aleppo. US Secretary of State John Kerry branded the bombardment of civilians in the Syri

Published 17 Oct, 2016 12:00am

Two 'terrorists' killed in Quetta

Two 'terrorists' killed in Quetta

Two suspected terrorists were killed as a result of gun battle with Frontier Corps in Quetta on Saturday night. According to reports, FC and police conducted combing operations in different areas of the provincial capital late Saturday.

Published 17 Oct, 2016 12:00am

Fazl asks PTI to shun 'political gimmickry'

Fazl asks PTI to shun 'political gimmickry'

Chief of JUI (F) Maulana Fazlur Rehman has strongly criticised the PTI leader Imran Khan for his attempts to block Islamabad, saying the issue of Panama Leaks is in the court and no attempt should be made for political gimmickry.

Published 17 Oct, 2016 12:00am

65th death anniversary of Liaquat Ali Khan observed

65th death anniversary of Liaquat Ali Khan observed

The 65th death anniversary of Shaheed-e-Millat Khan Liaqat Ali Khan, the first prime minister of Pakistan, was observed on Sunday, October 16. People from various walks of life paid homage to Shaheed Liaqat Ali Khan for his immense services for the cause

Published 17 Oct, 2016 12:00am

Shahbaz optimistic about economic prospects

Shahbaz optimistic about economic prospects

Punjab Chief Minister Shahbaz Sharif has said that efforts of the government for economic stability have proved fruitful and international institutions are also acknowledging improvement of national economy. He was talking to legislator Ghulam Bibi Bharwa

Published 17 Oct, 2016 12:00am

Traders urge government to clear refund claims

Traders urge government to clear refund claims

The business community, exporters and industrialists of the Southern Punjab have urged upon the government to pay their income tax, GST refunds immediately and the fate of deferred refund claims must be decided once and for all which are pending since 200

Published 17 Oct, 2016 12:00am

World Anaesthesia Day observed

World Anaesthesia Day observed

Like other parts of the globe, World Anaesthesia Day was also observed in Pakistan on Sunday to create awareness about the importance of the day. Several private and public hospitals and other medical institutes arranged a number of activities, including

Published 17 Oct, 2016 12:00am

Second edition of mystic Hindko poetry of Hazarvi published

Second edition of mystic Hindko poetry of Hazarvi published

The Gandhara Hindko Academy (GHA) has published a book that has the "charbaitas" or special form of poetry of great Hindko mystic poet Sain Ghulam Deen Hazarvi.

Published 17 Oct, 2016 12:00am

Government should patronise cotton growers: PCGA chief

Cotton

Government should patronise cotton growers: PCGA chief

Chairman of Pakistan Cotton Ginners Association (PCGA) Dr Jeso Mal has said the government should patronise the cotton growers and it must ensure purchase of their produce on fair price to boost up the cotton production up to 20 million bales and saving f

Published 17 Oct, 2016 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 27	278.47
USD PKR Interbank Buying / Dec 27	278.22
USD to Japanese Yen / Dec 27	157.87
USD to Swiss Franc / Dec 27	0.90
Pound Sterling to USD / Dec 27	1.26
Euro to USD / Dec 27	1.04

Stock	Volume
S&P 500 / Dec 27	5,970.84
India Sensex / Dec 27	78,699.07
Tokyo Nikkei / Dec 27	40,281.16
Nasdaq / Dec 27	19,238.48
Hang Seng / Dec 27	20,090.46
FTSE 100 / Dec 27	8,149.78
Dow Jones / Dec 27	42,992.21
Germany DAX 30 / Dec 27	19,984.32

Item	Value
Crude Oil USD/Barrel / Dec 27	70.60
Karachi Cotton PKR/37.32 KG / Dec 27	17,785
Gold 10 Grams PKR / Dec 27	234,225
Gold Spot USD/Ounce / Dec 27	2,621.40
Cotton US¢/pound / Dec 27	68.89
Petrol/Litre / Dec 28	252.10

Gainers
Losers
Leaders

Stock	Price
First Capital Equities / Dec 27 First Capital Equities Limited(FCEL)	6.10 ▲ 1.00 (19.61%)
Chenab Ltd (Pref) / Dec 27 Chenab Limited (Pref)(CLCPS)	4.50 ▲ 0.60 (15.38%)
Sec. Inv. Bank / Dec 27 Security Investment Bank Limited(SIBL)	7.99 ▲ 1.00 (14.31%)
786 Invest Ltd / Dec 27 786 Investments Limited(786)	8.15 ▲ 1.00 (13.99%)
Chenab Ltd / Dec 27 Chenab Limited(CHBL)	9.61 ▲ 1.00 (11.61%)
Next Capital / Dec 27 Next Capital Limited(NEXT)	10.90 ▲ 1.00 (10.10%)
Image Pakistan / Dec 27 Image Pakistan Limited(IMAGE)	20.31 ▲ 1.85 (10.02%)
Baba Farid Sugar / Dec 27 Baba Farid Sugar Mills Limited(BAFS)	53.08 ▲ 4.83 (10.01%)
Biafo Ind. / Dec 27 Biafo Industries Limited(BIFO)	208.88 ▲ 18.99 (10.00%)

Stock	Price
Burj Clean Energy Modaraba / Dec 27 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	8.10 ▼ -1.00 (-10.99%)
Blue-Ex Ltd / Dec 27 Blue-Ex Limited (GEM)(GEMBLUEX)	40.15 ▼ -4.46 (-10.00%)
Al-Khair Gadoon / Dec 27 Al-Khair Gadoon Limited(AKGL)	41.71 ▼ -4.63 (-9.99%)
Leiner Pak Gelat / Dec 27 Leiner Pak Gelatine Limited(LPGL)	131 ▼ -14.19 (-9.77%)
Jauharabad Sug / Dec 27 Jauharabad Sugar Mills Limited(JSML)	21 ▼ -2.10 (-9.09%)
Aruj Industries / Dec 27 Aruj Industries Limited(ARUJ)	8.62 ▼ -0.86 (-9.07%)
First Imrooz Mod. / Dec 27 First Imrooz Modaraba(FIMM)	200.20 ▼ -19.80 (-9.00%)
MithchellsFruit / Dec 27 Mitchells Fruit Farms Limited(MFFL)	243 ▼ -23.05 (-8.66%)
Grays Leasing / Dec 27 Grays Leasing Limited(GRYL)	5.71 ▼ -0.48 (-7.75%)

Stock	Volume
Fauji Foods Ltd / Dec 27 Fauji Foods Limited(FFL)	104,369,036 ▲ 0.78
WorldCall Telecom / Dec 27 Worldcall Telecom Limited(WTL)	72,731,608 ▲ 0.00
TRG Pak Ltd / Dec 27 TRG Pakistan Limited(TRG)	46,907,628 ▲ 1.54
Cnergyico PK / Dec 27 Cnergyico PK Limited(CNERGY)	40,110,243 ▲ 0.30
Hascol Petrol / Dec 27 Hascol Petroleum Limited(HASCOL)	34,416,789 ▲ 0.06
B.O.Punjab / Dec 27 The Bank of Punjab(BOP)	30,318,392 ▲ 0.04
Ghani Chem. Ind. / Dec 27 Ghani Chemical Industries Limited(GCIL)	26,183,062 ▲ 0.50
Sui South Gas / Dec 27 Sui Southern Gas Company Limited(SSGC)	25,823,481 ▲ 3.11
Silk Bank Ltd / Dec 27 Silkbank Limited(SILK)	25,520,925 ▼ -0.08

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Pakistan Revenue Automation Limited: Restructuring plan approved by ECC

Pakistan Revenue Automation Limited: Restructuring plan approved by ECC

NJLI Sarmaya Growth Fund Rates

Investments in real estate: Overseas Pakistanis now eligible for exemption from higher tax rates

Investments in real estate: Overseas Pakistanis now eligible for exemption from higher tax rates

Currency—Is competitive devaluation warranted?

Currency—Is competitive devaluation warranted?

Edible oil: Prices heating up again

Edible oil: Prices heating up again

Time has come to stand together and say no more politics on terrorism: DG ISPR

Time has come to stand together and say no more politics on terrorism: DG ISPR

Rupee slips lower against US dollar

Rupee slips lower against US dollar

Monetary policy lending operations: SBP unveils collateral, counterparty eligibility framework

Monetary policy lending operations: SBP unveils collateral, counterparty eligibility framework

Tax laws bill gets Senate panel’s nod

Tax laws bill gets Senate panel’s nod