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Print - 2016-12-14
Malaysian palm oil strengthens on lower output

Malaysian palm oil strengthens on lower output

Malaysian palm oil futures ended three losing sessions to gain in late trade on declining output. They fell to their lowest in two weeks earlier in the day on slow export demand and as they tracked weaker-performing rival oils. Benchmark palm oil futures
Published 14 Dec, 2016 12:00am
Sugar slumps to June lows; cocoa extends bounce above lows

Sugar slumps to June lows; cocoa extends bounce above lows

Sugar futures on ICE tumbled on Tuesday to their lowest levels since June, pressured by abundant supplies and chart-based sell signals, while cocoa markets extended their bounce above multiyear lows and extremely oversold conditions. Coffee futures were f
Published 14 Dec, 2016 12:00am
Gold down in Europe

Gold down in Europe

Gold edged lower on Tuesday, losing its lustre ahead of a two-day meeting of the US Federal Reserve that is expected to deliver the second interest rate rise in a decade. The Fed meeting starts later on Tuesday and markets have priced in a nearly 100 perc
Published 14 Dec, 2016 12:00am
UK publishes draft sugar tax

UK publishes draft sugar tax

Britain moved forward with its planned sugar tax on Monday, publishing draft legislation confirming a two-band levy for sugar-added soft drinks aimed at fighting obesity. In opting for a sugar tax, Britain joins Belgium, France, Hungary and Mexico, all of
Published 14 Dec, 2016 12:00am
US MIDDAY: wheat, corn and soya rise

US MIDDAY: wheat, corn and soya rise

Chicago Board of Trade corn and soyabean futures firmed on Tuesday on support from strong exports of both commodities following the record US harvest. Wheat futures also were higher, on track for their fourth straight day of gains as traders continued to
Published 14 Dec, 2016 12:00am
Pakistan's power sector going up or down, or nowhere?

Pakistan's power sector going up or down, or nowhere?

When did we last read reviews in the international reports such as the following, about Pakistan's Power Sector? Never in the history. "Since the start of the programme, power blackouts declined, distribution losses were reduced, payment collection rates
Published 14 Dec, 2016 12:00am
Sanofi Aventis
Currency

Sanofi Aventis

The multinational pharma giant, Sanofi-Aventis (PSX: SAPL) was initially incorporated in 1967 as Hoechst Pakistan Limited. The company began manufacturing pharmaceuticals and specialty chemicals in 1972 and listed itself on the KSE in 1977. In 1999, Hoech
Published 14 Dec, 2016 12:00am
Sanofi Aventis
Currency

Sanofi Aventis

The multinational pharma giant, Sanofi-Aventis (PSX: SAPL) was initially incorporated in 1967 as Hoechst Pakistan Limited. The company began manufacturing pharmaceuticals and specialty chemicals in 1972 and listed itself on the KSE in 1977. In 1999, Hoech
Published 14 Dec, 2016 12:00am
Zameen.com property expo concludes

Zameen.com property expo concludes

Zameen.com, Pakistan's No 1 real estate website, concluded its two-day realty affair, Zameen.com Property Expo 2016 (Lahore), on December 11. The biggest property event of the year congregated real estate developers, agents, investors, buyers and sellers
Published 14 Dec, 2016 12:00am
PFC holds discussion with Italian businessmen
Cotton

PFC holds discussion with Italian businessmen

As many as 37 Italian businessmen led by Italian Deputy Minister Ivan Scalfarotto, are currently on a visit to Pakistan for exploring investment avenues besides joint ventures in various sectors. The Pakistan Furniture Council (PFC) organised a round-tabl
Published 14 Dec, 2016 12:00am
Shahbaz reviews pace of Saaf Pani Programme

Shahbaz reviews pace of Saaf Pani Programme

Punjab Chief Minister Shahbaz Sharif while presiding over a meeting to review the pace of Khadim-e-Punjab Saaf Pani Programme, here on Tuesday has said that this is a splendid public welfare project for supply of potable water to the masses. He said that
Published 14 Dec, 2016 12:00am
WWF-Pakistan for determining population status

WWF-Pakistan for determining population status

WWF-Pakistan has urged the Government of Pakistan to conduct population surveys following standard census protocols on an annual basis with the involvement of relevant stakeholders to determine the population status and trends of Asian Houbara Bustard in
Published 14 Dec, 2016 12:00am
Turkish scholar calls on Nawaz

Turkish scholar calls on Nawaz

President of the Presidency of Religious Affairs of Turkey Mehmet Gormez called on Prime Minister Muhammad Nawaz Sharif, on Monday and discussed the ways to shun sectarian differences and promote religious harmony among Muslims. During the meeting held at
Published 14 Dec, 2016 12:00am
PPDWP approves four uplift schemes

PPDWP approves four uplift schemes

The Punjab Provincial Development Working Party (PPDWP) approved four development schemes of irrigation and road sectors with an estimated cost of Rs 4357.397 million. These schemes were cleared in the 38th meeting of PPDWP of current fiscal year 2016-17,
Published 14 Dec, 2016 12:00am
Audit policy may create rift between FBR, traders: LCCI

Audit policy may create rift between FBR, traders: LCCI

The Federal Board of Revenue's (FBR) Audit Policy 2016 is nothing but an attempt to pinch the existing taxpayers instead of expanding the tax net. The policy will give new tactics to the FBR machinery to harass the business community therefore it should b
Published 14 Dec, 2016 12:00am
'Faisalabad to be introduced as safe, reliable export destination'

'Faisalabad to be introduced as safe, reliable export destination'

The ultimate objective of FCCI trade delegations is to enhance Pakistani export in addition to introducing Faisalabad as a safe and reliable export destination of the world, said Engineer Muhammad Saeed Sheikh President FCCI. He was addressing a function
Published 14 Dec, 2016 12:00am
Businessmen urged to participate in NPBS
Cotton

Businessmen urged to participate in NPBS

"Nordic Pakistan Business Summit (NPBS) will be held at the start of next year in Finland. Pakistani business community must participate in this event as it would provide them a platform to establish new business contacts in Nordic region (Finland, Denmar
Published 14 Dec, 2016 12:00am
ADB to provide technical aid to Tevta

ADB to provide technical aid to Tevta

Asian Development Bank will provide technical assistance to Technical Education and Vocational Training Authority (TEVTA) for skill up gradation in the province of the Punjab. This initiative will improve the skilful training being imparted at TEVTA Insti
Published 14 Dec, 2016 12:00am
Nawaz says change in mindset could eliminate extremism

Nawaz says change in mindset could eliminate extremism

Prime Minister Nawaz Sharif has asked the religious scholars to play their due role to change the mindset, who are promoting extremism in the country. "We have to re-establish the nexus of Islam and peace to regain our identity," the premier said this whi
Published 14 Dec, 2016 12:00am
'CPEP helps Pakistan cope with cotton leaf curl virus'
Cotton

'CPEP helps Pakistan cope with cotton leaf curl virus'

The United States under its Cotton Productivity Enhancement Program (CPEP) project has helped Pakistan cope with cotton leaf curl virus (CLCuV) disease with a view to increase cotton productivity, said Dr Jodi Scheffler, a research geneticist with the US
Published 14 Dec, 2016 12:00am
PBC urges Dar to ask FBR to go easy on super tax

PBC urges Dar to ask FBR to go easy on super tax

Pakistan Business Council (PBC) has approached Finance Minister Ishaq Dar to stop the Federal Board of Revenue (FBR) from recovery proceedings of Super Tax against non-resident companies on dividend income from their investments in Pakistan. Sources told
Published 14 Dec, 2016 12:00am
PBC urges Dar to ask FBR to go easy on super tax

PBC urges Dar to ask FBR to go easy on super tax

Pakistan Business Council (PBC) has approached Finance Minister Ishaq Dar to stop the Federal Board of Revenue (FBR) from recovery proceedings of Super Tax against non-resident companies on dividend income from their investments in Pakistan. Sources told
Published 14 Dec, 2016 12:00am
CM credits law-enforcers with return of peace

CM credits law-enforcers with return of peace

The Sindh Apex Committee has decided to launch operation against drug mafia and those involved in sectarian killing under the garb of religion. Presiding over the committee's meeting on Tuesday, Sindh Chief Minister Syed Murad Ali Shah has said that the s
Published 14 Dec, 2016 12:00am
PIA clarification

PIA clarification

Media reports regarding an incidence of fire on a PIA aircraft at Jeddah airport are not correct. In fact there was some problem due to which generator of the aircraft shut down. After this, as per standard procedure, the aircraft was parked back at the b
Published 14 Dec, 2016 12:00am
K-E continues crackdown on power thieves, defaulters

K-E continues crackdown on power thieves, defaulters

K-Electric has geared up against power thieves and defaulters in different areas of the city. As per details, the KE team took stringent action against some of the defaulters belonging to a residential apartment complex Marine Drive in Clifton, who owe mi
Published 14 Dec, 2016 12:00am
PPP submits privilege motion against Nawaz

PPP submits privilege motion against Nawaz

Pakistan Peoples Party (PPP) on Tuesday submitted a privilege motion in the National Assembly Secretariat against Prime Minister Nawaz Sharif for giving statement about trail of funds in connection with Panama Papers on the floor of the House. The privile
Published 14 Dec, 2016 12:00am
Greater traffic jams, more commuter misery

Greater traffic jams, more commuter misery

The commuters suffer very much due to massive gridlocks during rush hours on main University Road and other parts of the city that have become a routine as thousands of vehicles remain stuck for hours. This traffic jam causes wastage of fuel and kill the
Published 14 Dec, 2016 12:00am
Body of Junaid Jamshed identified through facial X-ray

Body of Junaid Jamshed identified through facial X-ray

The dead body of singer-turned-preacher Junaid Jamshed, who died in Pakistan International Airlines (PIA) plane crash near Havelian on December 7, has been identified through his facial X-ray; it was learnt on Tuesday. Senior officials of Islamabad Capita
Published 14 Dec, 2016 12:00am
If demands not met, Bilawal vows to launch movement against Nawaz

If demands not met, Bilawal vows to launch movement against Nawaz

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari on Tuesday once again vowed to launch a protest movement against Prime Minister Nawaz Shaif if his four demands were not met immediately. Addressing a press conference and in series of tweets PP
Published 14 Dec, 2016 12:00am
Dar for more efforts for meeting budget targets

Dar for more efforts for meeting budget targets

The Finance Minister Senator Ishaq Dar chaired a meeting on matters related to Finance Division here on Tuesday. The Finance Secretary, Dr Waqar Masood Khan, briefed the Finance Minister on the progress of the overall budgetary targets for the current fis
Published 14 Dec, 2016 12:00am
Swedish firms asked to invest in Pakistan

Swedish firms asked to invest in Pakistan

Speaker National Assembly Sardar Ayaz Sadiq said on Tuesday that Swedish companies should take benefits from the opportunities for having huge scope of investment in energy generation, telecommunication, oil exploration, trade and manufacturing sectors in
Published 14 Dec, 2016 12:00am
Sindh growers' body stages sit-in against sugar mill owners

Sindh growers' body stages sit-in against sugar mill owners

The leaders of Sindh Growers Alliance (SGA) while criticising the threats of closure of sugar mills have announced launching of movement against rowdy attitude of mill owners. Addressing a Press conference at Hyderabad Press Club on Tuesday, the leaders o
Published 14 Dec, 2016 12:00am
PPL provides financial aid to two hospitals in Sindh

PPL provides financial aid to two hospitals in Sindh

Pakistan Petroleum Limited donated Rs 12.4 million and Rs 9.3 million to Indus Hospital as well as Koohi Goth Hospital respectively, as part of its ongoing CSR efforts to provide free-of-cost, quality healthcare to the underprivileged. Managing Director a
Published 14 Dec, 2016 12:00am
Business community welcomes new ISI chief, CGS

Business community welcomes new ISI chief, CGS

The leadership of Businessmen Group (BMG) and office bearers of the Karachi Chamber of Commerce and Industry (KCCI), while congratulating Lieutenant General Naveed Mukhtar and Lieutenant General Bilal Akbar on their appointments as DG ISI and Chief of Gen
Published 14 Dec, 2016 12:00am
Business leader calls for duty-free import of plants, machinery

Business leader calls for duty-free import of plants, machinery

Zubair Tufail, presidential contestant in the elections to Federation of Pakistan Chambers of Commerce and Industry's (FPCCI), has called the government for duty-free import of plant and machinery to achieve 7 percent GDP growth. Zubair, who is contesting
Published 14 Dec, 2016 12:00am
VCs of SU, MUET discuss mutual interest issues

VCs of SU, MUET discuss mutual interest issues

Professor Dr Muhammad Siddique Kalhoro, Vice-Chancellor, University of Sindh, called on Professor Dr Muhammad Aslam Uqaili, Vice-Chancellor, Mehran University of Engineering & Technology, Jamshoro to discuss a number of issues pertaining to the mutual int
Published 14 Dec, 2016 12:00am
New driving license system introduced

New driving license system introduced

In a bid to counter fake driving licenses, Inspector General (IG) of Sindh Police, A D Khawaja has introduced new computerised driving license system on Tuesday. The new driving license will be linked with Nadra's online system. Renewal of old license wil
Published 14 Dec, 2016 12:00am
SHC seeks authorities' comments on open sale of Gutka

SHC seeks authorities' comments on open sale of Gutka

The Sindh High Court (SHC) on Tuesday sought comments from the provincial and local authorities on a petition seeking enforcement of the ban on preparation, manufacturing and selling of Gutka in the province. The SHC bench was hearing the petition filed b
Published 14 Dec, 2016 12:00am
Baldia factory fire accused brought back

Baldia factory fire accused brought back

A team of FIA has brought prime suspect in Baldia factory fire incident, Rehman Bhola back to Pakistan after he was caught in Thailand. The suspect was brought back to the country using emergency passport. Earlier, Bhola was arrested in Thailand by Interp
Published 14 Dec, 2016 12:00am
SIUT Transplant Centre being inaugurated today

SIUT Transplant Centre being inaugurated today

The newly constructed 14-storyed Transplant Centre of SIUT (Sindh Institute of Urology and Transplantation) is being inaugurated on Wednesday. The Centre is constructed over an area of 2 lakh 50 thousand square feet at an estimated cost of Rs 1.5 billion
Published 14 Dec, 2016 12:00am
12th Karachi International book fair from tomorrow

12th Karachi International book fair from tomorrow

The 12th Karachi International Book Fair (KIBF), which is going to be commenced from December 15, 2016 at Karachi Expo, will host 32 exhibitors from 10 countries. This was stated by Convenor 12th KIBF, Owais Mirza Jamil and Aziz Khalid, Chairman of Pakist
Published 14 Dec, 2016 12:00am
CM Sindh announces grant of Rs 141.6 million to Petaro's Cadet College

CM Sindh announces grant of Rs 141.6 million to Petaro's Cadet College

The Chief Minister Sindh Syed Murad Ali Shah has said that four points of Chairman PPP Bilawal Bhutto Zardari are democratic and constitutional and neither Bilawal nor PPP would get power/benefit but the parliament would be strengthened instead. He was ta
Published 14 Dec, 2016 12:00am
Three dacoits arrested

Three dacoits arrested

At least three alleged dacoits were nabbed at Boat Basin area in the wee hours of Tuesday. Weapons and stolen money were also recovered. According to, police, a huge cache of weapons and stolen money were recovered from them. The suspects were targeting p
Published 14 Dec, 2016 12:00am
Hub power company to start 330 megawatts plant in Thar

Hub power company to start 330 megawatts plant in Thar

Private Infrastructure Board on Tuesday permitted Hub Power Company to start a coal power project of 330 megawatts in Thar. As per company release, this project will start producing electricity by the end of 2018. According to experts, it seems that the g
Published 14 Dec, 2016 12:00am
Fecto Cement shows interest to buy Dewan Cement Limited (North Plant)

Fecto Cement shows interest to buy Dewan Cement Limited (North Plant)

Fecto Cement has also shown interest to acquire Dewan Cement Limited (North Plant) and announced to participate in the bidding process for sales of assets of the said plant. The decision has been taken in the meeting of the board of directors of Fecto Cem
Published 14 Dec, 2016 12:00am
Two Omani naval ships dock in Karachi

Two Omani naval ships dock in Karachi

Two Royal Omani naval ships arrived here on Tuesday to conduct a bilateral naval exercise "Thamar Al Tayyab" with Pakistan Navy which is eighth in the series. Upon arrival at Karachi Port, the visiting ships RNOV AL SADH and RNOV AL BUSHRA were given a wa
Published 14 Dec, 2016 12:00am
QWP chief demands judicial inquiry on Gadani tragedy

QWP chief demands judicial inquiry on Gadani tragedy

Chairman Qaumi Watan Party, Aftab Ahmed Khan Sherpao has demanded judicial inquiry in Gadani Shipyard incident to determine the exact extent of losses. In a statement here Tuesday, he said it would provide authentic and real data of the victims for helpin
Published 14 Dec, 2016 12:00am
FIA nabs illegal emigrants back from Greece

FIA nabs illegal emigrants back from Greece

The Federal Investigation Agency (FIA) Tuesday detained 13 illegal Pakistani immigrants from Greece over illegal stay and fake documents. A senior official of the FIA said that 13 deportees arrived at Benazir Bhutto Islamabad International Airport through
Published 14 Dec, 2016 12:00am
Pakistan urges even-handed approach in civil nuclear cooperation

Pakistan urges even-handed approach in civil nuclear cooperation

Pakistan has reiterated its call for an equitable, non-discriminatory and criteria-based approach to promote civil nuclear co-operation and membership of the NSG, says a press release received here on Tuesday from New York. Speaking in UN General Assembly
Published 14 Dec, 2016 12:00am
Quaid-e-Azam University ranked among top 100 Asian varsities

Quaid-e-Azam University ranked among top 100 Asian varsities

It's a matter of pride for Pakistan that one of its universities ie Quaid-e-Azam University (QAU) of Islamabad has made it to grab the slot in top 100 universities of Asia. According to the Global Education rankings for 2017, the varsity has been listed a
Published 14 Dec, 2016 12:00am
NTC holds seminar

NTC holds seminar

As per the directions of Brigadier Viqar Rashid Khan (Retd), NTC holds a 1-day seminar on cyber security and software defined IP networks solutions in its HQs at Islamabad. The seminar was conducted in collaboration with Huawei Technologies. NTC officers
Published 14 Dec, 2016 12:00am
Government decides to revise anti-terrorism rules

Government decides to revise anti-terrorism rules

The government has decided to revise the Anti-Terrorism (Freezing & Seizure) Rules 2014 to streamline procedure for freezing or seizure of properties of proscribed organisations and proscribed persons. Sources told Business Recorder on Tuesday that
Published 14 Dec, 2016 12:00am
HRCP for full engagement with UNHR

HRCP for full engagement with UNHR

Following the recent adoption by the United Nations Human Rights Committee of a document raising a multiplicity of concerns about Pakistan's human rights record, the International Commission of Jurists (ICJ) and Human Rights Commission of Pakistan (HRCP)
Published 14 Dec, 2016 12:00am
FBR chairman asked to submit comments on inaction on FTO's order

FBR chairman asked to submit comments on inaction on FTO's order

Federal Tax Ombudsman's (FTO) office has issued directions to Chairman FBR to submit comments over non-implementation of order of FTO passed in a complaint filed by a local tiles manufacturer. In this regard, the FTO's Lahore office has issued fresh direc
Published 14 Dec, 2016 12:00am
FIA to act against olive project irregularities

FIA to act against olive project irregularities

The Federal Investigation Agency (FIA) is reportedly all set to take action against the officials of National Agricultural Research Centre (NARC) for their alleged involvement in irregularities in olive promotion project and is awaiting a go-ahead signal
Published 14 Dec, 2016 12:00am
Bid to smuggle heroin foiled

Bid to smuggle heroin foiled

Anti Narcotics Force (ANF) recovered 250grams heroin from the under garments of a passenger at Islamabad Air port on Tuesday. As per details, ANF was busy in his routine checking and recovered heroin from the passenger Yaser, who was to travel to Birmingh
Published 14 Dec, 2016 12:00am
Ebad meets Zardari in Dubai

Ebad meets Zardari in Dubai

Former Sindh governor Ishratul Ebad Khan on Monday said that he recently had a meeting with former president and Co-Chairman Pakistan People's Party Asif Ali Zardari in Dubai. Dr Ebad, who has been away from the limelight since leaving his office, returne
Published 14 Dec, 2016 12:00am
Pakistan elected to head CCW's review conference

Pakistan elected to head CCW's review conference

Pakistan's permanent Representative to the United Nations and other International Organisations in Geneva, Tehmina Janjua has been elected to preside over the Fifth Review Conference of the Convention on Certain Conventional Weapons. According to Foreign
Published 14 Dec, 2016 12:00am
Four terrorists arrested

Four terrorists arrested

Counter Terrorism Department arrested at least four terrorist, here on Tuesday. According to details, the CTD conducted the search operation on a tipoff and arrested four terrorist in the area of Shershah. The CTD source revealed that terrorists were iden
Published 14 Dec, 2016 12:00am
LHC dismisses PAT's petition

LHC dismisses PAT's petition

A full bench of the Lahore High Court on Tuesday dismissed the petition of Pakistan Awami Tehreek (PAT) seeking directions to make the Model Town incident's judicial inquiry a part of its private complaint pending before an Anti-Terrorism Court (ATC). The
Published 14 Dec, 2016 12:00am
More effective steps needed to redress malnutrition issues

More effective steps needed to redress malnutrition issues

Agricultural scientists and experts have pointed out that plenty of food/high caloric intakes, dependence on impure and processed foods, environmental pollutions were posing serious disease threat to the people. Speakers also called for addressing the iss
Published 14 Dec, 2016 12:00am
Environmental challenges called threat to transmission system

Environmental challenges called threat to transmission system

National Transmission and Despatch Company Managing Director Dr Fiaz Ahmad Chaudhary said Tuesday the rising environmental challenges were posing threat to the power transmission system, designed decades ago by not keeping in mind the pollution level whic
Published 14 Dec, 2016 12:00am
Government said taking structured policy actions on Islamic banking

Government said taking structured policy actions on Islamic banking

Finance Minister Senator Ishaq Dar said that the government is taking structured policy actions to promote Islamic Banking in Pakistan. In this connection, the finance ministry has issued notifications constituting four sub-committees for promotion and fa
Published 14 Dec, 2016 12:00am
'CPEC will reduce trade cost for Central Asia, Asia-Pacific region'

'CPEC will reduce trade cost for Central Asia, Asia-Pacific region'

The completion of the China-Pakistan Economic Corridor (CPEC) will reduce the trade cost for central Asian countries by 11.5 per cent and for Asian Pacific region by 25.3 per cent, by 2020. This was stated by Professor Mark Goh of the National University
Published 14 Dec, 2016 12:00am
Elevation of PHC CJ to Supreme Court recommended

Elevation of PHC CJ to Supreme Court recommended

The Judicial Commission of Pakistan on Tuesday recommended the elevation of Peshawar High Court Chief Justice Mian Mazhar Alam Khan as the judge of the Supreme Court whereas the Commission also proposed the name of senior puisne judge of Peshawar High Cou
Published 14 Dec, 2016 12:00am
Packages Limited to incorporate Packages Power as subsidiary

Packages Limited to incorporate Packages Power as subsidiary

Packages Limited has announced to incorporate Packages Power as its wholly owned subsidiary for the purpose of setting up a 3.1MW hydropower project as advertised by the Punjab Power Development Board. "Accordingly, an initial equity of Rs 25 million divi
Published 14 Dec, 2016 12:00am
ADB could give $5.9 billion loans for operation business plan

ADB could give $5.9 billion loans for operation business plan

The Asian Development Bank (ADB) has indicated giving $5.965 billion loans to Pakistan under the country operations business plan (2017-2019) during three years. According to the ADB updated plan, the proposed sovereign lending programme for 2017-2019 amo
Published 14 Dec, 2016 12:00am
ADB could give $5.9 billion loans for operation business plan

ADB could give $5.9 billion loans for operation business plan

The Asian Development Bank (ADB) has indicated giving $5.965 billion loans to Pakistan under the country operations business plan (2017-2019) during three years. According to the ADB updated plan, the proposed sovereign lending programme for 2017-2019 amo
Published 14 Dec, 2016 12:00am
Shahbaz meets Turkish delegation

Shahbaz meets Turkish delegation

A high-level Turk delegation led by President, Presidency of Religious Affairs Turkey Dr Mehmet Gormez met Punjab Chief Minister Shahbaz Sharif at Model Town recently. Pak-Turk relations and promotion of religious harmony, brotherhood and tolerance were d
Published 14 Dec, 2016 12:00am
FBR likely to probe trading group

FBR likely to probe trading group

Federal Board of Revenue (FBR) is likely to investigate a leading Pakistani commodities' trading group for its alleged involvement in dubious activities and transactions during the last couple of years in Pakistan. The group has recently set up multiple c
Published 14 Dec, 2016 12:00am
FPBC, UMT sign accord

FPBC, UMT sign accord

The Finland Pakistan Business Council (FPBC) and the University of Management and Technology (UMT) signed an agreement for long-term co-operation towards development of education in Pakistan here on Tuesday. Dr Hasan Sohaib Murad, Rector of UMT and Wille
Published 14 Dec, 2016 12:00am
Under section 38 CCP can penalise breach of Competition Act

Under section 38 CCP can penalise breach of Competition Act

The Competition Commission of Pakistan (CCP) is legally empowered to impose a financial penalty of up to Rs 75 million or an amount not exceeding 10 percent of the annual turnover of the company involved in violation of the Competition Act, 2010.
Published 14 Dec, 2016 12:00am
World Bank, FBR to discuss e-monitoring of production in targeted fields

World Bank, FBR to discuss e-monitoring of production in targeted fields

The World Bank and the Federal Board of Revenue (FBR) will discuss implementation of electronic monitoring system of production for targeted sectors such as tobacco industry, sector-oriented risk-based forensic audits, capacity building on transfer pricin
Published 14 Dec, 2016 12:00am
Many British companies interested in business in Pakistan

Many British companies interested in business in Pakistan

British Deputy High Commissioner Belinda Lewis has said that many British companies are interested to start their business in Pakistan. Talking to reporters at a reception in her honour hosted by Mundia Group on Monday evening, she said Pakistan was a big
Published 14 Dec, 2016 12:00am
LSE professor highlights state capacities that spur growth

LSE professor highlights state capacities that spur growth

Professor Timothy John Besley the W Arthur Lewis Professor of Development Economics and Political Science at London School of Economics (LSE) Monday highlighted the role of state capacities stimulating economic growth. Addressing the State Bank of Pakista
Published 14 Dec, 2016 12:00am
'Only PM can make a difference'

'Only PM can make a difference'

The editorial "Only PM can make a difference" carried by Business Recorder on December 9 contains undue criticism of the recently promulgated Companies Ordinance, 2016. There was a dire need to replace the 32-year-old Companies Ordinance, 1984 and
Published 14 Dec, 2016 12:00am
Some Bangladesh Bank officials involved in heist
Currency

Some Bangladesh Bank officials involved in heist

Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top police investigator in Dhaka told Reuters on Monday. The
Published 14 Dec, 2016 12:00am
Paris: the Accountant comes calling

Paris: the Accountant comes calling

Paris has become the destination of choice for the Accountant. Signing up for Open Government Partnership (OGP) has come on the heels of OECD convention on Mutual Administrative Assistance on tax matters that he signed during his last Parisian escapade. F
Published 14 Dec, 2016 12:00am
New global economic order in the offing?

New global economic order in the offing?

Most of us seem to have forgotten the popular street movements against globalization that had sent visible tremors across the rich world, especially in Europe and the US during the second half of the 1990s. These movements then tapered off soon after 9/11
Published 14 Dec, 2016 12:00am
Merit-based appointments

Merit-based appointments

The newly appointed Chief of Army Staff (CoAS) General Qamar Bajwa has initiated what looks like a major reshuffle amongst the top commanders of the army. Of course it is the privilege of any incoming CoAS to have his own team in place. But what is signif
Published 14 Dec, 2016 12:00am
PIA chief quits

PIA chief quits

By resigning from his post as chairman of the Pakistan International Airlines Azam Saigol has done the right thing. He has set an example for others by owning up the ultimate responsibility for the crash of PK661 which caused a huge loss of human life, al
Published 14 Dec, 2016 12:00am
The FTA fatigue

The FTA fatigue

Consensus eludes China and Pakistan on the methodology to expand Free Trade Agreement after both sides have dissimilar claims on bilateral trade, says a Business Recorder report on the second round of negotiations between the two countries. Accordi
Published 14 Dec, 2016 12:00am
Army to stand by Fata tribal people: CoAS

Army to stand by Fata tribal people: CoAS

Chief of Army Staff General Qamar Javed Bajwa on Monday said the army will standby the tribal people of Fata and work with the government to bring about equitable development across the region, said a statement released by the Inter-Services Public Relati
Published 14 Dec, 2016 12:00am
Army to stand by Fata tribal people: CoAS

Army to stand by Fata tribal people: CoAS

Chief of Army Staff General Qamar Javed Bajwa on Monday said the army will standby the tribal people of Fata and work with the government to bring about equitable development across the region, said a statement released by the Inter-Services Public Relati
Published 14 Dec, 2016 12:00am
External debt servicing reaches $1.5 billion in Q1

External debt servicing reaches $1.5 billion in Q1

The country''s external debt servicing reached $1.5 billion at the end of the first quarter of current fiscal year 2016-17 (FY17), mainly due to higher repayments of public debt. Economists expressed concern over the rising spending on account of external
Published 14 Dec, 2016 12:00am
External debt servicing reaches $1.5 billion in Q1

External debt servicing reaches $1.5 billion in Q1

The country's external debt servicing reached $1.5 billion at the end of the first quarter of current fiscal year 2016-17 (FY17), mainly due to higher repayments of public debt. Economists expressed concern over the rising spending on account of external
Published 14 Dec, 2016 12:00am
External debt servicing reaches $1.5 billion in Q1

External debt servicing reaches $1.5 billion in Q1

The country's external debt servicing reached $1.5 billion at the end of the first quarter of current fiscal year 2016-17 (FY17), mainly due to higher repayments of public debt. Economists expressed concern over the rising spending on account of external
Published 14 Dec, 2016 12:00am
The Weather

The Weather

The weather report on Tuesday (December 13, 2016) and the forecast for Wednersday (December 14, 2016).

Published 14 Dec, 2016 12:00am
Prime Minister says terrorist dens rooted out in country

Prime Minister says terrorist dens rooted out in country

Prime Minister Nawaz Sharif has said, "The sacrifices rendered by state institutions have destroyed terrorist dens in the country." The Prime Minister was addressing the National Seerat Conference in Lahore on Monday. The Prime Minister urged Ulema to pla
Published 14 Dec, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 13, 2016).

Published 14 Dec, 2016 12:00am
Prime Minister says terrorist dens rooted out in country

Prime Minister says terrorist dens rooted out in country

Prime Minister Nawaz Sharif has said, "The sacrifices rendered by state institutions have destroyed terrorist dens in the country." The Prime Minister was addressing the National Seerat Conference in Lahore on Monday. The Prime Minister urged Ulema to pla
Published 14 Dec, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 13, 2016).

Published 14 Dec, 2016 12:00am
Pakistan-India water dispute: World Bank pauses arbitration

Pakistan-India water dispute: World Bank pauses arbitration

The World Bank Group on Tuesday announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements. The announcement temporarily
Published 14 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 14 Dec, 2016 12:00am
Pakistan-India water dispute: World Bank pauses arbitration

Pakistan-India water dispute: World Bank pauses arbitration

The World Bank Group on Tuesday announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements. The announcement temporarily
Published 14 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 14 Dec, 2016 12:00am
Pakistan-India water dispute: World Bank pauses arbitration

Pakistan-India water dispute: World Bank pauses arbitration

The World Bank Group on Tuesday announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements. The announcement temporarily
Published 14 Dec, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (December 13, 2016).

Published 14 Dec, 2016 12:00am
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