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Print - 2016-12-22
Immigration staff asked to learn Chinese, Turkish languages

Immigration staff asked to learn Chinese, Turkish languages

The immigration staffers deployed at airports in Punjab have been directed to learn Chinese and Turkish languages. The decision was taken by Federal Investigation Agency (FIA) Director Dr Usman Anwar on Wednesday keeping in view the excessive travelling o
Published 22 Dec, 2016 12:00am
KP initiates work on three hydel projects

KP initiates work on three hydel projects

Secretary of Energy and Power Department Khyber Pakhtunkhwa, Engineer Naeem Khan has said that work on three hydropower project of 194 megawatt has been started. The projects are included 84MW Matiltan (Swat), 41MW Koto (Dir Lower) and 69MW Lawi Hydropowe
Published 22 Dec, 2016 12:00am
PACRA maintains TFC rating of Soneri Bank

PACRA maintains TFC rating of Soneri Bank

The Pakistan Credit Rating Agency Limited ("PACRA") has maintained rating of unsecured, subordinated, and listed Term Finance Certificates ("TFCs") of PKR 3,000 million at "A+" (Single A plus). This rating denotes a low expectation of credit risk with sta
Published 22 Dec, 2016 12:00am
Tiwana's wife dies

Tiwana's wife dies

The wife of former chairman cum Managing Director and former President Pakistan Hockey Federation (PHF), M Nawaz Tiwana died, here on Wednesday morning. Her Namaz-e-Janaza was offered at her ancestral village Hadali district Khushab. Later she was laid to
Published 22 Dec, 2016 12:00am
JI blames rulers for rising poverty

JI blames rulers for rising poverty

Chief of Jamaat-e-Islami, Sirajul Haq, has said that if the process of accountability was started from 1947 as desired by the rulers, Prime Minister Nawaz Sharif's turn would not come till the Day of Judgement. According to media cell of Jamaat-e-Islami,
Published 22 Dec, 2016 12:00am
'Chikunguny' identical to dengue: experts

'Chikunguny' identical to dengue: experts

'Chikungunya' is not a lethal disease and it is persisting in those countries where dengue is present because the vector of both diseases is the same mosquito. The main symptom of 'Chikungunya' is high grade fever along with severe pain in joints. The pre
Published 22 Dec, 2016 12:00am
Two employees of LDA dismissed

Two employees of LDA dismissed

Two employees of LDA have been dismissed after they had been proceeded against under PEEDA Act 2006. Muhammad Nawaz Khan, Junior Clerk, has been dismissed from service for not attending office after he had been transferred and posted with Team Leader of t
Published 22 Dec, 2016 12:00am
Minister unhappy over situation in Rural Health Centre

Minister unhappy over situation in Rural Health Centre

Provincial Minister for Primary & Secondary Health Khawaja Imran Nazir paid a surprise visit to Rural Health Center (RHC) Mandra Rawalpindi and expressed his anger over unsatisfactory cleanliness condition in the centre especially spider nets hanging in t
Published 22 Dec, 2016 12:00am
PP&DD's late chairman Sultan remembered

PP&DD's late chairman Sultan remembered

Punjab Planning & Development Department held Condolence Reference Session in the memory of deceased Former Chairman Planning & Development Tariq Sultan at P&D Complex Lahore.
Published 22 Dec, 2016 12:00am
PAC seeks detailed briefing on USF performance

PAC seeks detailed briefing on USF performance

Expressing dissatisfaction over poor performance of Universal Service Fund (USF) in providing telecommunication services countrywide and increasing teledensity, the Public Accounts Committee (PAC) Wednesday sought a detailed briefing on January 12, 2017.
Published 22 Dec, 2016 12:00am
Nawaz, Bosnian PM visit Sarajevo's old city

Nawaz, Bosnian PM visit Sarajevo's old city

Prime Minister Nawaz Sharif along with his Bosnian counterpart Dr Denis Zvizdic Wednesday visited the old city of Sarajevo. Both the prime ministers walked down the streets of Bascarsija, the ancient city reminding of the Ottoman and Austro-Hungarian time
Published 22 Dec, 2016 12:00am
Recovery of heroin: Customs, PIA at loggerheads over claim

Recovery of heroin: Customs, PIA at loggerheads over claim

Pakistan International Airlines (PIA) and Customs Preventive are at loggerhead to get recognition for the recovery of 16.7 kilograms of brown heroin worth Rs 170 million from flight PK-7121 bound for Jeddah from Karachi. According to the sources, the situ
Published 22 Dec, 2016 12:00am
Recommendations on country's water policy framework launched

Recommendations on country's water policy framework launched

Hisaar Foundation on Wednesday launched the recommendations of Pakistan's national water policy framework for the consideration of the government. This is a culmination of two years of consultations which included discussion sessions with various water st
Published 22 Dec, 2016 12:00am
PPP Punjab leadership to greet Zardari

PPP Punjab leadership to greet Zardari

The PPP Punjab leadership, along with a good number of die-hard party workers, is all set to leave for Karachi in order to welcome the former president Asif Zardari at the Quaid-e-Azam International Airport. Leading party stalwarts of the party from the p
Published 22 Dec, 2016 12:00am
Senate adopts legal advisers' bill

Senate adopts legal advisers' bill

The Senate Wednesday passed 'The Companies (Appointment of Legal Advisers) (Amendment) Bill, 2016" that provides to amend 'the Companies (Appointment of Legal Advisors) Act, 1974.' Another bill 'The Public Private Partnership Authority Bill, 2016' was int
Published 22 Dec, 2016 12:00am
OGRA selects Ghaznavi for corporate, media affairs

OGRA selects Ghaznavi for corporate, media affairs

Oil and Gas Regulatory Authority (OGRA) has selected Imran Ghaznavi as Senior Executive Director (SED) for Corporate & Media Affairs, it is learnt. Reliable sources told Business Recorder here on Wednesday that the chairperson OGRA after assuming o
Published 22 Dec, 2016 12:00am
Hearing of petition against PM adjourned

Hearing of petition against PM adjourned

The Lahore High Court (LHC) on Wednesday adjourned to December 26 for further arguments the proceedings in response to a petition of Justice Democratic Party of former CJP Iftikhar Muhammad Chaudhry seeking disqualification of Prime Minister (PM) Nawaz Sh
Published 22 Dec, 2016 12:00am
Pakistan's future in safe hands: Mamnoon

Pakistan's future in safe hands: Mamnoon

President Mamnoon Hussain on Wednesday said that Pakistan's future is in safe hands adding that the youth should ready themselves for future challenges. The President said this while addressing the Annual Parents' Day at Cadet College Hasanabdal. Principa
Published 22 Dec, 2016 12:00am
Incidents of terrorism register significant decline: Nisar

Incidents of terrorism register significant decline: Nisar

Interior Minister Chaudhry Nisar Ali Khan Wednesday said that due to the effective policies of federal government and sacrifices of security forces the incidents of terrorism had registered significant decline. Talking to media at Pak-Afghan border at Tor
Published 22 Dec, 2016 12:00am
KP to turn Lowari top into fascinating tourist spot

KP to turn Lowari top into fascinating tourist spot

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has agreed to a proposal to develop Lowari top as fascinating tourist spot adding that his government has already plan 6 to 8 scenic spots in the entire Malakand Division that would be developed on tourism
Published 22 Dec, 2016 12:00am
PHC appoints Afridi as new CJ

PHC appoints Afridi as new CJ

The chief justice of the Peshawar High Court has been moved to the Supreme Court, with Justice Yahya Afridi of the Peshawar High Court being appointed the High Court's new chief justice.
Published 22 Dec, 2016 12:00am
Oil prices fall on US inventory build, Libyan output ramps up

Oil prices fall on US inventory build, Libyan output ramps up

Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in US crude inventories last week. Brent futures for February delivery were down 95 cents, or 1.7 percent, at $54.
Published 22 Dec, 2016 12:00am
US MIDDAY: soyabeans rebound

US MIDDAY: soyabeans rebound

US soyabean futures rose on Wednesday amid lingering concerns about risks from unfavourable dryness in Argentina, a day after prices neared a one-month low on forecasts for beneficial rains. Corn and wheat futures weakened under pressure from large suppli
Published 22 Dec, 2016 12:00am
US MIDDAY: gold little changed

US MIDDAY: gold little changed

Gold was little changed but held above last week's 10-1/2-month low on Wednesday as a retreat in the dollar from the previous session's 14-year peak prompted some buyers to hunt bargains after the metal's sharp slide from its November high. Bullion gave u
Published 22 Dec, 2016 12:00am
The Weather

The Weather

The weather report on Wednesday (December 21, 2016) and the forecast for Thursday (December 22, 2016).

Published 22 Dec, 2016 12:00am
'Mischief on the waterfront economy'

'Mischief on the waterfront economy'

This is apropos a Business Recorder op-ed 'Mischief on the waterfront economy' carried by the newspaper yesterday. The writer argued, among other things, "The IWT survived the two wars as well as other Pakistan-India conflicts because none
Published 22 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Dec, 2016 12:00am
A volatile calm - the paradox of 2016 financial markets
Currency

A volatile calm - the paradox of 2016 financial markets

Traditional measures of volatility at historic lows and Wall Street stocks at new record highs went hand-in-hand in 2016 with traders fretting about bouts of wild stock-price swings and currency flash-crashes. The past year has been nothing if not paradox
Published 22 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Dec, 2016 12:00am
Testing times for the PPP

Testing times for the PPP

PPP co-chairman Asif Ali Zardari is returning home tomorrow after an 18-month long self-exile. He had left Karachi in June of last year after making his unforgettable 'tumhari eent say eent baja dengay (will destroy you) ... you are here for three years a
Published 22 Dec, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (December 21, 2016).

Published 22 Dec, 2016 12:00am
The power albatross

The power albatross

In April 2008 as the world oil prices crossed the $140 per bbl mark the oil-based high priced Independent Power Producer (IPP) model came home to roost. The model protected the independent power producers from any form of competition or market risk and in
Published 22 Dec, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 21, 2016)

Published 22 Dec, 2016 12:00am
Commission reports

Commission reports

Former judge of the Supreme Court, Justice Javed Iqbal, had an interesting day with the Senate Standing Committee on Interior on December 19. Justice Iqbal headed the Abbottabad Commission set up to investigate the US Navy Seals' raid that killed Osam
Published 22 Dec, 2016 12:00am
From 'game-changer' to 'fate-changer'

From 'game-changer' to 'fate-changer'

Addressing the concluding session of PSDE organised by PIDE in Islamabad recently, Ahsan Iqbal, Minister for Planning and Development, said that Pakistan views the Iranian seaport of Chabahar as a complementing project to the CPEC and not as a competitor
Published 22 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 21, 2016).

Published 22 Dec, 2016 12:00am
British soldier convicted of war crime denied bail

British soldier convicted of war crime denied bail

A British soldier found guilty of murdering a wounded Taliban fighter in Afghanistan was denied bail on Wednesday as he appeals against his landmark conviction. The case of Alexander Blackman, 42, who had been identified only as "Marine A" during his tria
Published 22 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 21, 2016).

Published 22 Dec, 2016 12:00am
British soldier convicted of war crime denied bail

British soldier convicted of war crime denied bail

A British soldier found guilty of murdering a wounded Taliban fighter in Afghanistan was denied bail on Wednesday as he appeals against his landmark conviction. The case of Alexander Blackman, 42, who had been identified only as "Marine A" during his tria
Published 22 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 21, 2016).

Published 22 Dec, 2016 12:00am
Reshuffle in bureaucracy

Reshuffle in bureaucracy

The government on Wednesday made bureaucratic reshuffle at the federal level. According to details, Secretary Civil Aviation Irfan Elahi has been given the additional charge of Chairman Pakistan International Airlines (PIA). Through another move, Special
Published 22 Dec, 2016 12:00am
Reshuffle in bureaucracy

Reshuffle in bureaucracy

The government on Wednesday made bureaucratic reshuffle at the federal level. According to details, Secretary Civil Aviation Irfan Elahi has been given the additional charge of Chairman Pakistan International Airlines (PIA). Through another move, Special
Published 22 Dec, 2016 12:00am
With higher PSDP allocation and CPEC, outlook for cement positive

With higher PSDP allocation and CPEC, outlook for cement positive

With higher allocation for Public Sector Development Programme and China Pakistan Economic Corridor (CPEC), the outlook for cement and construction-related industries is positive. Industry sources said the government has allocated Rs 1,675 billion for PSD
Published 22 Dec, 2016 12:00am
THE RUPEE: no visible changes
Currency

THE RUPEE: no visible changes

No major changes were witnessed on the money market on Wednesday as the rupee firmly held the overnight levels against the dollar in the process of trading, dealers said. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 1
Published 22 Dec, 2016 12:00am
With higher PSDP allocation and CPEC, outlook for cement positive

With higher PSDP allocation and CPEC, outlook for cement positive

With higher allocation for Public Sector Development Programme and China Pakistan Economic Corridor (CPEC), the outlook for cement and construction-related industries is positive. Industry sources said the government has allocated Rs 1,675 billion for PSD
Published 22 Dec, 2016 12:00am
THE RUPEE: no visible changes
Currency

THE RUPEE: no visible changes

No major changes were witnessed on the money market on Wednesday as the rupee firmly held the overnight levels against the dollar in the process of trading, dealers said. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 1
Published 22 Dec, 2016 12:00am
With higher PSDP allocation and CPEC, outlook for cement positive

With higher PSDP allocation and CPEC, outlook for cement positive

With higher allocation for Public Sector Development Programme and China Pakistan Economic Corridor (CPEC), the outlook for cement and construction-related industries is positive. Industry sources said the government has allocated Rs 1,675 billion for PSD
Published 22 Dec, 2016 12:00am
Petrol prices may be increased up to 3.50 per litre

Petrol prices may be increased up to 3.50 per litre

Prices of petroleum products are likely to increase up to Rs 3.50 per litre from January 1, 2017, it is learnt. According to sources privy to the developments, petrol price is expected to go up by Rs 1.50 per litre, while Light Diesel Oil (LDO) price coul
Published 22 Dec, 2016 12:00am
Petrol prices may be increased up to 3.50 per litre

Petrol prices may be increased up to 3.50 per litre

Prices of petroleum products are likely to increase up to Rs 3.50 per litre from January 1, 2017, it is learnt. According to sources privy to the developments, petrol price is expected to go up by Rs 1.50 per litre, while Light Diesel Oil (LDO) price coul
Published 22 Dec, 2016 12:00am
Petrol prices may be increased up to 3.50 per litre

Petrol prices may be increased up to 3.50 per litre

Prices of petroleum products are likely to increase up to Rs 3.50 per litre from January 1, 2017, it is learnt. According to sources privy to the developments, petrol price is expected to go up by Rs 1.50 per litre, while Light Diesel Oil (LDO) price coul
Published 22 Dec, 2016 12:00am
'Killer of Russian envoy was member of Gulen group'

'Killer of Russian envoy was member of Gulen group'

President Recep Tayyip Erdogan on Wednesday said for the first time the Turkish policeman who assassinated the Russian ambassador to Ankara was a member of the group of the US-based preacher blamed for the July coup. "There is no need to make a secret out
Published 22 Dec, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (December 16, 2016).

Published 22 Dec, 2016 12:00am
'Killer of Russian envoy was member of Gulen group'

'Killer of Russian envoy was member of Gulen group'

President Recep Tayyip Erdogan on Wednesday said for the first time the Turkish policeman who assassinated the Russian ambassador to Ankara was a member of the group of the US-based preacher blamed for the July coup. "There is no need to make a secret out
Published 22 Dec, 2016 12:00am
Steel Mills finding no buyers, National Assembly body told

Steel Mills finding no buyers, National Assembly body told

Secretary Industries and Production Khizer Hayat Gondal said Wednesday that although the government has no plan to review its privatisation plan of Pakistan Steel Mills (PSM) on "as is whereas basis," it is facing issues in finding positional buyers from
Published 22 Dec, 2016 12:00am
Steel Mills finding no buyers, National Assembly body told

Steel Mills finding no buyers, National Assembly body told

Secretary Industries and Production Khizer Hayat Gondal said Wednesday that although the government has no plan to review its privatisation plan of Pakistan Steel Mills (PSM) on "as is whereas basis," it is facing issues in finding positional buyers from
Published 22 Dec, 2016 12:00am
Steel Mills finding no buyers, National Assembly body told

Steel Mills finding no buyers, National Assembly body told

Secretary Industries and Production Khizer Hayat Gondal said Wednesday that although the government has no plan to review its privatisation plan of Pakistan Steel Mills (PSM) on "as is whereas basis," it is facing issues in finding positional buyers from
Published 22 Dec, 2016 12:00am
No extension in date for filing tax returns?

No extension in date for filing tax returns?

The government has decided that it will not give any extension in date of filing of tax returns, which was December 15, 2016. Chairman Federal Board of Revenue (FBR) Nisar Muhammad Khan told this Wednesday to the Senate Standing Committee on Finance, whic
Published 22 Dec, 2016 12:00am
No extension in date for filing tax returns?

No extension in date for filing tax returns?

The government has decided that it will not give any extension in date of filing of tax returns, which was December 15, 2016. Chairman Federal Board of Revenue (FBR) Nisar Muhammad Khan told this Wednesday to the Senate Standing Committee on Finance, whic
Published 22 Dec, 2016 12:00am
No extension in date for filing tax returns?

No extension in date for filing tax returns?

The government has decided that it will not give any extension in date of filing of tax returns, which was December 15, 2016. Chairman Federal Board of Revenue (FBR) Nisar Muhammad Khan told this Wednesday to the Senate Standing Committee on Finance, whic
Published 22 Dec, 2016 12:00am
EU gives Poland two months to reverse court changes

EU gives Poland two months to reverse court changes

The EU gave Poland's rightwing government another two months Wednesday to reverse changes to its constitutional court or face sanctions, warning they posed a "substantial" challenge to the rule of law. The move came a year after the conservative Law and J
Published 22 Dec, 2016 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Dec, 2016 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 22 Dec, 2016 12:00am
Lurid bribe scam hits massive New York retirement fund

Lurid bribe scam hits massive New York retirement fund

US prosecutors brought charges Wednesday against a former New York state retirement fund official who allegedly steered $2.4 billion in business to brokers who gave him cocaine, a Rolex watch and other bribes. Navnoor Kang, who served as director of fixed
Published 22 Dec, 2016 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Dec, 2016 12:00am
'Pakistan Gate' inaugurated at Taftan: ISPR

'Pakistan Gate' inaugurated at Taftan: ISPR

Comm-ander Southern Command Lieutenant General Aamir Riaz inaugurated the 'Pakistan Gate' at Taftan, near the Pakistan-Iran border on Wednesday, marking the completion of the first phase which had commenced on July 16. According to a statement issued by I
Published 22 Dec, 2016 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 22 Dec, 2016 12:00am
Swiss regulators fine banks for rate-rigging

Swiss regulators fine banks for rate-rigging

Swiss competition authorities said Wednesday they had handed eight large global banks a joint fine of nearly $100 million for creating cartels and rigging international interest rates between 2005 and 2010. Barclays, Citigroup, Credit Suisse, Deutsche Ban
Published 22 Dec, 2016 12:00am
Swiss regulators fine banks for rate-rigging

Swiss regulators fine banks for rate-rigging

Swiss competition authorities said Wednesday they had handed eight large global banks a joint fine of nearly $100 million for creating cartels and rigging international interest rates between 2005 and 2010. Barclays, Citigroup, Credit Suisse, Deutsche Ban
Published 22 Dec, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Dec, 2016 12:00am
Swiss regulators fine banks for rate-rigging

Swiss regulators fine banks for rate-rigging

Swiss competition authorities said Wednesday they had handed eight large global banks a joint fine of nearly $100 million for creating cartels and rigging international interest rates between 2005 and 2010. Barclays, Citigroup, Credit Suisse, Deutsche Ban
Published 22 Dec, 2016 12:00am
Dar explains proposed election law

Dar explains proposed election law

Chairman Parliamentary Committee on Electoral Reforms Muhammad Ishaq Dar has said that Electoral Reforms Committee of the Parliament has decided to replace all existing election laws with a unified draft Elections Act 2016, which will empower the Election
Published 22 Dec, 2016 12:00am
Dar explains proposed election law

Dar explains proposed election law

Chairman Parliamentary Committee on Electoral Reforms Muhammad Ishaq Dar has said that Electoral Reforms Committee of the Parliament has decided to replace all existing election laws with a unified draft Elections Act 2016, which will empower the Election
Published 22 Dec, 2016 12:00am
Pakistan, Bosnia agree to boost cooperation

Pakistan, Bosnia agree to boost cooperation

Pakistan and Bosnia while vowing to explore new areas of cooperation, agreed to enhance cooperation in power generation, trade, business and investment sectors here on Wednesday. Prime Minister Muhammad Nawaz Sharif and his Bosnian counterpart Chairman of
Published 22 Dec, 2016 12:00am
Pakistan, Bosnia agree to boost cooperation

Pakistan, Bosnia agree to boost cooperation

Pakistan and Bosnia while vowing to explore new areas of cooperation, agreed to enhance cooperation in power generation, trade, business and investment sectors here on Wednesday. Prime Minister Muhammad Nawaz Sharif and his Bosnian counterpart Chairman of
Published 22 Dec, 2016 12:00am
Pakistan, Bosnia agree to boost cooperation

Pakistan, Bosnia agree to boost cooperation

Pakistan and Bosnia while vowing to explore new areas of cooperation, agreed to enhance cooperation in power generation, trade, business and investment sectors here on Wednesday. Prime Minister Muhammad Nawaz Sharif and his Bosnian counterpart Chairman of
Published 22 Dec, 2016 12:00am
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