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Print - 2016-12-08
40 percent more GIDC collected during 2015-16

40 percent more GIDC collected during 2015-16

The government collected 40 percent more Gas Infrastructure Development Cess (GIDC) during the fiscal year 2015-16 as compared to corresponding period of previous fiscal, according to the ministry of finance. A comparison of budgetary operations of 2015-1
Published 08 Dec, 2016 12:00am
PIA plane crashes with 48 on board; 36 bodies recovered

PIA plane crashes with 48 on board; 36 bodies recovered

A plane belonging to Pakistan's national carrier crashed on Wednesday with 48 people on board, apparently killing all of them, police and an airline spokesman said. According to senior police officer Khurram Rasheed, the plane crashed in a village near th
Published 08 Dec, 2016 12:00am
PIA plane crashes with 48 on board; 36 bodies recovered

PIA plane crashes with 48 on board; 36 bodies recovered

A plane belonging to Pakistan's national carrier crashed on Wednesday with 48 people on board, apparently killing all of them, police and an airline spokesman said. According to senior police officer Khurram Rasheed, the plane crashed in a village near th
Published 08 Dec, 2016 12:00am
No technical fault in plane: PIA chairman

No technical fault in plane: PIA chairman

Chairman Pakistan International Airline (PIA), Muhammad Azam Saigol has confirmed that all the 48 passengers on board an Islamabad-bound flight, PK166, from Chitral have died. Addressing a press conference here Wednesday night, he said that there was no t
Published 08 Dec, 2016 12:00am
No technical fault in plane: PIA chairman

No technical fault in plane: PIA chairman

Chairman Pakistan International Airline (PIA), Muhammad Azam Saigol has confirmed that all the 48 passengers on board an Islamabad-bound flight, PK166, from Chitral have died. Addressing a press conference here Wednesday night, he said that there was no t
Published 08 Dec, 2016 12:00am
More survivors found in Yemen shipwreck

More survivors found in Yemen shipwreck

More than 40 people were rescued off the Yemeni island of Socotra on Wednesday after a cargo vessel carrying islanders home from the mainland sank in the Indian Ocean, authorities said. Several others were still missing after a major search operation in t
Published 08 Dec, 2016 12:00am
Lieutenant General Shahid Baig Mirza made Corps Commander Karachi

Lieutenant General Shahid Baig Mirza made Corps Commander Karachi

Lieutenant-General Shahid Baig Mirza has been posted as Corps Commander Karachi, said a statement issued by the Inter-Services Public Relations (ISPR) on Wednesday. According to the ISPR statement, Lieutenant General Shahid Baig Mirza is currently serving
Published 08 Dec, 2016 12:00am
Lieutenant General Shahid Baig Mirza made Corps Commander Karachi

Lieutenant General Shahid Baig Mirza made Corps Commander Karachi

Lieutenant-General Shahid Baig Mirza has been posted as Corps Commander Karachi, said a statement issued by the Inter-Services Public Relations (ISPR) on Wednesday. According to the ISPR statement, Lieutenant General Shahid Baig Mirza is currently serving
Published 08 Dec, 2016 12:00am
War against terrorism: UK General praises Pakistan army's successes

War against terrorism: UK General praises Pakistan army's successes

Chief of Army Staff (CoAS) General Qamar Javed Bajwa met with British Lieutenant General Sir John Lorimer who called on him at the GHQ here on Wednesday. According to Inter Services Public Relations (ISPR), regional security and matters of mutual co-opera
Published 08 Dec, 2016 12:00am
War against terrorism: UK General praises Pakistan army's successes

War against terrorism: UK General praises Pakistan army's successes

Chief of Army Staff (CoAS) General Qamar Javed Bajwa met with British Lieutenant General Sir John Lorimer who called on him at the GHQ here on Wednesday. According to Inter Services Public Relations (ISPR), regional security and matters of mutual co-opera
Published 08 Dec, 2016 12:00am
Pakistan joins 70-member OGP

Pakistan joins 70-member OGP

Pakistan has joined the rank of 70-member countries of Open Government Partnership (OGP) here on Wednesday. Federal Minister for Finance and Economic Affairs, Senator Mohammad Ishaq Dar announced this at the opening ceremony of the 3-day 4th OGP Summit he
Published 08 Dec, 2016 12:00am
Pakistan joins 70-member OGP

Pakistan joins 70-member OGP

Pakistan has joined the rank of 70-member countries of Open Government Partnership (OGP) here on Wednesday. Federal Minister for Finance and Economic Affairs, Senator Mohammad Ishaq Dar announced this at the opening ceremony of the 3-day 4th OGP Summit he
Published 08 Dec, 2016 12:00am
Pakistan joins 70-member OGP

Pakistan joins 70-member OGP

Pakistan has joined the rank of 70-member countries of Open Government Partnership (OGP) here on Wednesday. Federal Minister for Finance and Economic Affairs, Senator Mohammad Ishaq Dar announced this at the opening ceremony of the 3-day 4th OGP Summit he
Published 08 Dec, 2016 12:00am
Neelum Jhelum Project: third party audit to be conducted

Neelum Jhelum Project: third party audit to be conducted

A third-party audit would be conducted to assess how the cost of Neelum-Jhelum hydropower project has escalated from Rs 84 billion to Rs 414 billion. Chairman National Assembly Standing Committee on Planning Development and Reform Abdul Majeed Khan told t
Published 08 Dec, 2016 12:00am
Neelum Jhelum Project: third party audit to be conducted

Neelum Jhelum Project: third party audit to be conducted

A third-party audit would be conducted to assess how the cost of Neelum-Jhelum hydropower project has escalated from Rs 84 billion to Rs 414 billion. Chairman National Assembly Standing Committee on Planning Development and Reform Abdul Majeed Khan told t
Published 08 Dec, 2016 12:00am
Neelum Jhelum Project: third party audit to be conducted

Neelum Jhelum Project: third party audit to be conducted

A third-party audit would be conducted to assess how the cost of Neelum-Jhelum hydropower project has escalated from Rs 84 billion to Rs 414 billion. Chairman National Assembly Standing Committee on Planning Development and Reform Abdul Majeed Khan told t
Published 08 Dec, 2016 12:00am
Foreign commercial loans: Tax exemption likely on interest payments

Foreign commercial loans: Tax exemption likely on interest payments

The government may grant tax exemption on interest payments on money borrowed under certain foreign commercial loans as well as on interest payments accrued on these transactions since 2013. Sources told Business Recorder here on Wednesday that the
Published 08 Dec, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 08 Dec, 2016 12:00am
Foreign commercial loans: Tax exemption likely on interest payments

Foreign commercial loans: Tax exemption likely on interest payments

The government may grant tax exemption on interest payments on money borrowed under certain foreign commercial loans as well as on interest payments accrued on these transactions since 2013. Sources told Business Recorder here on Wednesday that the
Published 08 Dec, 2016 12:00am
Foreign commercial loans: Tax exemption likely on interest payments

Foreign commercial loans: Tax exemption likely on interest payments

The government may grant tax exemption on interest payments on money borrowed under certain foreign commercial loans as well as on interest payments accrued on these transactions since 2013. Sources told Business Recorder here on Wednesday that the
Published 08 Dec, 2016 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 08 Dec, 2016 12:00am
Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka's government Wednesday launched an investigation into a $700 million river diversion deal that had been finalised with a Chinese company weeks before the fall of the previous regime. The cabinet set up a panel to probe the contract awarded to Ch
Published 08 Dec, 2016 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 08 Dec, 2016 12:00am
Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka's government Wednesday launched an investigation into a $700 million river diversion deal that had been finalised with a Chinese company weeks before the fall of the previous regime. The cabinet set up a panel to probe the contract awarded to Ch
Published 08 Dec, 2016 12:00am
BOARD MEETINGS
Cotton

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 08 Dec, 2016 12:00am
Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka starts fresh probe into $700 million China deal

Sri Lanka''s government Wednesday launched an investigation into a $700 million river diversion deal that had been finalised with a Chinese company weeks before the fall of the previous regime. The cabinet set up a panel to probe the contract awarded to C
Published 08 Dec, 2016 12:00am
Q3CY16: banking sector remains sound and stable: SBP

Q3CY16: banking sector remains sound and stable: SBP

The State Bank of Pakistan (SBP) said Wednesday that despite seasonal effects and a shift in the government's borrowing pattern, the banking sector remained sound and stable with steady performance during the third quarter (July-Sept) of this calendar yea
Published 08 Dec, 2016 12:00am
Q3CY16: banking sector remains sound and stable: SBP

Q3CY16: banking sector remains sound and stable: SBP

The State Bank of Pakistan (SBP) said Wednesday that despite seasonal effects and a shift in the government's borrowing pattern, the banking sector remained sound and stable with steady performance during the third quarter (July-Sept) of this calendar yea
Published 08 Dec, 2016 12:00am
Q3CY16: banking sector remains sound and stable: SBP

Q3CY16: banking sector remains sound and stable: SBP

The State Bank of Pakistan (SBP) said Wednesday that despite seasonal effects and a shift in the government''s borrowing pattern, the banking sector remained sound and stable with steady performance during the third quarter (July-Sept) of this calendar ye
Published 08 Dec, 2016 12:00am
Indonesia quake toll jumps to 97 as more bodies found in rubble

Indonesia quake toll jumps to 97 as more bodies found in rubble

The death toll from a powerful earthquake that struck western Indonesia Wednesday has nearly doubled to 97, the military said, as more bodies were pulled from the rubble of scores of shattered buildings. The shallow 6.5-magnitude quake struck Pidie Jaya d
Published 08 Dec, 2016 12:00am
Indonesia quake toll jumps to 97 as more bodies found in rubble

Indonesia quake toll jumps to 97 as more bodies found in rubble

The death toll from a powerful earthquake that struck western Indonesia Wednesday has nearly doubled to 97, the military said, as more bodies were pulled from the rubble of scores of shattered buildings. The shallow 6.5-magnitude quake struck Pidie Jaya d
Published 08 Dec, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (November 09, 2016).

Published 08 Dec, 2016 12:00am
Trump taps China ambassador, named Time person of 2016
Currency

Trump taps China ambassador, named Time person of 2016

Donald Trump selected a Midwest governor with close ties to China as ambassador to Beijing as he was named Wednesday Time's "person of the year" and signalled tough "American first" economic policies. The president-elect announced his selection of Iowa's
Published 08 Dec, 2016 12:00am
Trump taps China ambassador, named Time person of 2016
Currency

Trump taps China ambassador, named Time person of 2016

Donald Trump selected a Midwest governor with close ties to China as ambassador to Beijing as he was named Wednesday Time's "person of the year" and signalled tough "American first" economic policies. The president-elect announced his selection of Iowa's
Published 08 Dec, 2016 12:00am
Sun sheds light on CPEC jobs

Sun sheds light on CPEC jobs

That China has fully appreciated the enormity of challenges to China Pakistan Economic Corridor (CPEC) is a fact that is fully manifested in the remarks of China's envoy to Pakistan Sun Weidong that he made at the inauguration of a website of CPEC and its
Published 08 Dec, 2016 12:00am
Death of a popular icon

Death of a popular icon

The passing away of 68-year-old long serving Tamil Nadu Chief Minister Jayalalithaa Jayaram on December 5 evoked among her supporters the expected tsunami of grief. She had been ill in hospital since being admitted with a fever in September. Hundreds of p
Published 08 Dec, 2016 12:00am
This new beginning

This new beginning

Among the men in tuxedos there stood a man in Pakistan's ceremonial garb, including the 'pug' (turban) on his head, to receive his Nobel Prize in Physics. He was Dr Abdus Salam wanted the world to know that he comes from Pakistan, a Third World country th
Published 08 Dec, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

Firmness prevailed on the money market on Wednesday as the rupee moved cautiously against the dollar in the process of trading, dealers said. The rupee inched up by three paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.78 r
Published 08 Dec, 2016 12:00am
Strategic thinking

Strategic thinking

The recent spat between India and Pakistan at the Heart of Asia Conference in Amritsar reflects the state of India-Pakistan relations at a time when tectonic shifts are taking place in the geopolitical positioning in the world. The emergence of China as t
Published 08 Dec, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

Firmness prevailed on the money market on Wednesday as the rupee moved cautiously against the dollar in the process of trading, dealers said. The rupee inched up by three paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.78 r
Published 08 Dec, 2016 12:00am
Houbara bustard hunters are back

Houbara bustard hunters are back

It has become an annual ritual for the concerned citizens to raise protest voices against liberal issuance of permits to Arab princes, sheikhs and wealthy businessmen for hunting the houbara bustard- on the International Union for Conservation of Nature's
Published 08 Dec, 2016 12:00am
UK's lower house would back triggering EU divorce talks

UK's lower house would back triggering EU divorce talks

While the British government tries to prevent parliament voting on its plan to trigger the country's exit from the European Union, Reuters research indicates the lower house would in fact support its move, based on lawmakers' recent statements. Prime Mini
Published 08 Dec, 2016 12:00am
Humiliating treatment

Humiliating treatment

The humiliating treatment meted out to Sartaj Aziz by Afghan President Ashraf Ghani and Narendra Modi is shocking, to say the least. While the attitude of Modi is due to his intense hatred of Muslims and Pakistan, Ghani conveniently forgot how much Afghan
Published 08 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 07, 2016).

Published 08 Dec, 2016 12:00am
US MIDDAY: gold rises
Currency

US MIDDAY: gold rises

Gold extended its rise on Wednesday, rebounding from this week's 10-month low as the dollar eased against the euro ahead of a European Central Bank meeting and on the view that a US rate rise next week was already reflected in prices. In November, the yel
Published 08 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 07, 2016).

Published 08 Dec, 2016 12:00am
US MIDDAY: wheat and corn sag; soyabeans choppy

US MIDDAY: wheat and corn sag; soyabeans choppy

US wheat and corn futures fell about 1 percent on Wednesday, pressured by plentiful world feedgrain supplies and profit-taking following light rallies a day earlier, traders said. Soyabean futures were choppy despite worries about South American crop weat
Published 08 Dec, 2016 12:00am
Oil slips on bearish US inventory report, doubts over OPEC cut

Oil slips on bearish US inventory report, doubts over OPEC cut

Oil prices slid on Wednesday on bearish US petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Brent futures fell 93 cents,
Published 08 Dec, 2016 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (December 07, 2016).

Published 08 Dec, 2016 12:00am
JS Capital Protected Fund V: PSX approves formal listing

JS Capital Protected Fund V: PSX approves formal listing

Pakistan Stock Exchange (PSX) has approved the formal listing and quotation of the units of JS Capital Protected Fund V, an open-end mutual fund on the exchange with effect from December 09.
Published 08 Dec, 2016 12:00am
'Quality seed, modern sowing methods to help increase agri output'

'Quality seed, modern sowing methods to help increase agri output'

The agriculture productivity of the country can be increased manifold by applying the available system including quality seed, sowing methods, balanced usage of inputs, methods to reduce post harvest losses and proper spray of pesticides, said University
Published 08 Dec, 2016 12:00am
Two factories sealed

Two factories sealed

Punjab Food Minister Bilal Yasin on Wednesday conducted a raid on food manufacturing factory situated at Kala Khatai Road near Shahdara. Both the factories were sealed and the minister ordered to take into possession 25,000kg substandard food items amount
Published 08 Dec, 2016 12:00am
PGMI students urged to follow modern trends

PGMI students urged to follow modern trends

Principal Post Graduate Medical Institute (PGMI) Professor Ghiyas un Nabi Tayyab has stressed upon medical students to follow modern trends of medical science especially in clinical department, to ensure improved medical facilities to patients. While addr
Published 08 Dec, 2016 12:00am
Jamaat for more pressure on New Delhi

Jamaat for more pressure on New Delhi

Secretary General, Jamaat-e-Islami, Liaqat Baloch, has stressed upon US President elect Donald Trump to stop India from human rights violations in Kashmir and pressurise New Delhi for the implementation of the UN resolutions to ensure the right of self de
Published 08 Dec, 2016 12:00am
'Black Day' to be observed against FBR audit policy: LCCI

'Black Day' to be observed against FBR audit policy: LCCI

Chambers of commerce and industry in Punjab would observe "Black Day" against the FBR Audit Policy 2016 after Rabi-ul-Awwal while black flags would also be hoisted on their buildings. This decision was taken during a meeting convened by the Lahore Chamber
Published 08 Dec, 2016 12:00am
'Black Day' to be observed against FBR audit policy: LCCI

'Black Day' to be observed against FBR audit policy: LCCI

Chambers of commerce and industry in Punjab would observe "Black Day" against the FBR Audit Policy 2016 after Rabi-ul-Awwal while black flags would also be hoisted on their buildings. This decision was taken during a meeting convened by the Lahore Chamber
Published 08 Dec, 2016 12:00am
Dilip Kumar hospitalised

Dilip Kumar hospitalised

Veteran Indian actor Dilip Kumar was admitted to Mumbai's Lilavati Hospital. The actor was hospitalised after suffering from fever and swelling in his right leg. He was taken to the hospital by his wife Saira Banu. "I was anyway planning to take him for a
Published 08 Dec, 2016 12:00am
Huawei's highly anticipated Mate 9 available in Pakistan

Huawei's highly anticipated Mate 9 available in Pakistan

Further to the launch of the highly anticipated Mate 9 in Munich, Germany earlier this month; Huawei announced the device availability in the Pakistan market today. After the tremendous response during pre-booking for the coveted Mate 9 Huawei Pakistan ha
Published 08 Dec, 2016 12:00am
Next Capital's Right Shares PSX approves schedule of issue

Next Capital's Right Shares PSX approves schedule of issue

Pakistan Stock Exchange (PSX) has approved the schedule of issue of Right Shares of Next Capital Limited. According to a PSX notice issued on Wednesday, the trading in the Unpaid Rights of the Company will start on this Exchange w.e.f. December 13, 2016.
Published 08 Dec, 2016 12:00am
MCB Bank launches MCBSME Card

MCB Bank launches MCBSME Card

MCB Bank Ltd, Pakistan's leading private sector bank, launched a new pioneering financial product, the MCBSME Card in collaboration with METRO Cash & Carry Pakistan. The first of its kind card based clean lending product was unveiled during a MoU signing
Published 08 Dec, 2016 12:00am
Germany keen to invest in NTDC projects: envoy

Germany keen to invest in NTDC projects: envoy

German Ambassador to Pakistan Ina Lepel said that Germany has always considered Pakistan as its important ally in South Asia and would boost co-operation in energy sector of the country. This was stated on Tuesday during her visit to 500 kV Grid Station N
Published 08 Dec, 2016 12:00am
ABL enters into strategic partnership with MasterCard

ABL enters into strategic partnership with MasterCard

Allied Bank Limited, one of Pakistan's leading private sector commercial banks has recently entered into a strategic partnership with MasterCard, a leading technology company in the global payments industry. Under this partnership, both Allied Bank and Ma
Published 08 Dec, 2016 12:00am
Schedule of issue of Masood Textile Mills' Right Shares approved

Schedule of issue of Masood Textile Mills' Right Shares approved

Pakistan Stock Exchange (PSX) has approved the schedule of issue of Right Shares of Masood Textile Mills Limited. According to a PSX notice issued on Wednesday, the trading in the Unpaid Rights of the Company will start on this Exchange w.e.f. December 19
Published 08 Dec, 2016 12:00am
JS Capital Protected Fund V: PSX approves formal listing

JS Capital Protected Fund V: PSX approves formal listing

Pakistan Stock Exchange (PSX) has approved the formal listing and quotation of the units of JS Capital Protected Fund V, an open-end mutual fund on the exchange with effect from December 09.
Published 08 Dec, 2016 12:00am
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