China's yuan firmed slightly against the dollar on Thursday, as dollar liquidity offered by major state-owned banks was bigger than demand by bank clients for the greenback, traders said. The People's Bank of China set the midpoint rate at 6.9497 per doll

Short-dated British government bond yields, pressured by weak US economic data and doubts about the health of Italy's banking sector, dipped sharply in early deals on Thursday before recovering to trade little changed. In volatile low-volume trade, the tw

The Australian and New Zealand dollars edged higher on Thursday in thin holiday trading but stayed near multi-month lows on sustained demand for the greenback. The Australian dollar was up 0.24 percent at $0.7191, bouncing off a seven-month trough of $0.7

Argentina's former Manchester United and Manchester City striker Carlos Tevez has signed for Shanghai Shenhua in the latest big-money Chinese deal, the club said Thursday, reportedly making him the world's best-salaried footballer. The acquisition of the

Hamza Ibrahim of Peshawar become the new youngest champion after defeating his strong rival Shoaib Riaz of Bannu in the final of the KP Badminton Open Championship played here at Wadood Hall, Qayyum Sports Complex on Thursday. Hamza got the honor of becom

Acting Consul General John Warner welcomed approximately 20 male students aged 13 through 18 from The Al-Qadir School, a lower-middle-class private school in Lyari, to learn the rules of American Flag Football alongside volunteers from US Consulate Karach

Neil Broom's maiden century and the self-belief of Kane Williamson gave New Zealand a 67-run victory over Bangladesh to take the second one-day international and the series in Nelson on Thursday. Bangladesh suffered a dramatic meltdown when they were crui

Razi Khan's hammered a cracking 95 runs by guiding Mohmand Agency to shock host Bajaur Agency in the final of the NBP Sports Gala Twenty20 Cricket Tournament played at Bajaur Sports Complex on Thursday. Mohmand Agency won the toss and elected to bat first

A UN resolution condemning settlements has raised pressure on FIFA to take action against Israeli football clubs based in the occupied West Bank, Human Rights Watch said Thursday. The United Nations Security Council last week demanded an end to Israeli se

Dele Alli scored twice as Tottenham came back from behind to win emphatically, 4-1, at Southampton on Wednesday. Harry Kane, who missed a penalty, and substitute Son Heung-min were also on the score-sheet in a game that saw Virgil van Dijk give Southampto

Kagiso Rabada made two crucial breakthroughs as South Africa chipped away at a stubborn Sri Lankan batting order on the fourth day of the first Test at St George's Park on Thursday. Sri Lanka were 240 for five at the close of play, with their last two rec

New Zealand's Giacomo won the handicap honours Thursday in the record-breaking Sydney-Hobart yacht race after rivals were becalmed on Hobart's breathless River Derwent. The Volvo 70 came in second fastest in line honours early Wednesday, just two hours be

Skipper Steve Smith scored his 17th Test century to give Australia a 22-run lead over Pakistan as rain again disrupted play in the second Test in Melbourne on Thursday. Smith reached his fourth Test hundred of the year before a storm lashed the Melbourne

Colombia's Congress on Wednesday passed a law granting amnesty to Marxist FARC rebels as part of the country's peace deal, a development the government hailed as "historic." "Thanks to the Congress which in a historic vote approved the amnesty law, first

Israel's right wing Thursday dismissed US Secretary of State John Kerry's speech on the conflict with the Palestinians as a parting shot of little consequence, especially with Donald Trump soon taking office. One minister repeated his assertion that a Pal

The party of Jayalalithaa Jayaram, a powerful Indian politician who died earlier this month, picked one of the former leader's closest aides to succeed her on Thursday, ending weeks of speculation. The death of Jayalalithaa - a former film star popularly

South Korea's ambassador to France was grilled by investigators Thursday over allegations that the government blacklisted thousands of cultural figures deemed critical of impeached President Park Geun-Hye. Ambassador Mo Chul-Min, who served as senior pres

Iraqi forces advanced Thursday after declaring a new phase in their offensive on eastern Mosul, stepping up efforts to reclaim the Islamic State group's last major stronghold in the country. Elite forces have reconquered several parts of eastern Mosul sin

Oman, which generally stays neutral in the face of regional disputes, has joined a Saudi-led military coalition aimed at "fighting terrorism," official media in Riyadh said Thursday. The Gulf sultanate, which maintains good ties with rival powerhouses Ira

Russian officials probing the crash of a Syria-bound military plane said Thursday there was no explosion on board, but equipment was not functioning correctly when it plunged into the Black Sea. The Soviet-era Tu-154 plane went down shortly after takeoff

Boko Haram's elusive leader Abubakar Shekau appeared in a new video on Thursday to dispute a claim that the jihadist group had been routed from its Sambisa Forest stronghold. "We are safe. We have not been flushed out of anywhere. And tactics and strategi

A key military commander for the Islamic State group in Syria has been killed in an air strike carried out by the US-led coalition, the Pentagon said Thursday. Abu Jandal al-Kuwaiti died Monday near Tabqa Dam, west of the IS stronghold of Raqa, according

Syria's army and key ally Russia on Thursday announced a nationwide ceasefire to take effect at midnight, in a major potential breakthrough after nearly six years of civil war. The deal was brokered by Russia and Turkey, who back opposing sides in the bru

Floods triggered by heavy rains and a river bursting its banks have killed at least 50 people and left thousands more homeless in southwestern Congo, a provincial governor said Thursday. Torrential rains caused the Kalamu river, which flows through the ci

ICE cotton futures were largely unchanged in holiday-thinned trading on Wednesday, amid a stronger dollar. "It's dull market today... very little volume. There is no new fundamental to grab this market one way or the other," said Louis Rose, an independen

Shanghai copper futures followed the London contract higher in late Asian trading on Thursday, reversing earlier losses as speculators built up positions ahead of the end of the year. The most-traded copper contract on the Shanghai Futures Exchange settle

Copper prices were softer on Thursday alongside equities in thin holiday trade as markets fretted about the higher dollar and the potential for a liquidity crunch in top consumer China. Benchmark copper on the London Metal Exchange ended 1 percent down at

Benchmark TOCOM rubber futures rose almost 2 percent on Thursday, recouping last session's losses as investors covered short positions and as a weaker dollar buoyed the market. The Tokyo Commodity Exchange rubber contract for June delivery closed 1.8 perc

The following were Thursday's Rotterdam vegetable oil prices at 1700 GMT.

The following were Thursday's Rotterdam vegetable oil prices at 1700 GMT.

Malaysian palm oil futures eased on Thursday, dipping after two sessions of gains on year-end profit-taking and in line with declines in rival soyaoil. The tropical oil had risen to its highest in a week-and-a-half on Wednesday, supported by a rebound in

Raw sugar futures on ICE extended a post-Christmas rebound on Thursday, climbing to the highest level in more than two weeks with sentiment boosted by talk that India's crop may be smaller than expected. March raws were up 0.63 cents, or 3.3 percent, at 1

Gold prices edged higher on Wednesday as subdued cash demand and investor short-covering helped offset a stronger US dollar. Spot gold was up 0.27 percent at $1,141.92 per ounce by 2:18 pm EST (1918 GMT), after hitting $1,148.98 on Tuesday, the strongest

Gold prices rose to their highest in two weeks on Thursday, as the US dollar fell, but gains were limited on expectations of more rate hikes by the US Federal Reserve next year. Spot gold was up 0.5 percent at $1,147.56 an ounce by 0631 GMT, after reachin

Gold prices rose to their highest in two weeks on Thursday as the dollar and US bond yields declined following weaker than expected economic data. Spot gold hit $1,150.26 an ounce, its highest since December 14, and was up 0.4 percent at $1,146.28 by 1451

Paris wheat futures rose on Thursday to a one-week high as an increase in US prices lent support to a European market otherwise lacking direction during a year-end lull. March milling wheat, the most active contract on the Paris-based Euronext exchange, s

Oil futures dipped on Thursday after a surprise build in US crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July last year. US crude stocks unexpectedly rose for the second straight week, data

Traders and analysts on Thursday predicted light deliveries against Chicago Board of Trade January soya futures on Friday, the first notice day for deliveries against the contract. Most sources estimated deliveries against soyabean and soyameal futures at

Gold prices rose 1 percent to their highest in more than two weeks on Thursday as US bond yields declined on waning risk appetite, reducing the US dollar's appeal against safe-haven currencies such as the Japanese yen. Bullion bounced back on Thursday aft

A three-year IMF programme for Pakistan has ended in September 2016. The outcomes of the programme have widely been disputed. The IMF and the government are of the views that the programme has helped the country restore macroeconomic stability and reduce

Chapra Khan Omari Event Architecture is one of the largest innovative design and production firms in Pakistan. CKO has over 15 Years of experience with managing and conceptualizing mega events, Including Bollywood tour Shows in USA, Fashion Pakistan Week

Chapra Khan Omari Event Architecture is one of the largest innovative design and production firms in Pakistan. CKO has over 15 Years of experience with managing and conceptualizing mega events, Including Bollywood tour Shows in USA, Fashion Pakistan Week

At least four people died and eight others were injured when a passenger jeep fell into a gorge here on Thursday. Police said that a passenger jeep heading to Garhi Habibullah from Sarwai area of Tehsil Balakot, district Mansehra skidded off road due to p

Allegations over Russia and Iran's deepening ties with the Taliban have ignited concerns of a renewed "Great Game" of proxy warfare in Afghanistan that could undermine US-backed troops and push the country deeper into turmoil. Moscow and Tehran insist the

Prime Minister Nawaz Sharif on Thursday inspected the bullet-ridden civilian bus in which nine passengers were killed as they were targeted by the Indian armed forces along the Line of Control (LoC) on November 23. The Indian army targeted the civilian bu

Civil Aviation Authority (CAA) is suffering a loss of Rs 1.1 billion per month due to non-payment of dues by Pakistan International Airlines (PIA). According to the documents available with Business Recorder, CAA dues payable by PIA increased to Rs 49.162

Jamiat Ulema-e-Islam-Fazal (JUI-F) Chief Maulana Fazal-ur-Rehman said on Thursday that extension in period of military courts, which was set up for two years after December 2014 attacks on schoolchildren in Peshawar, would be considered as failure of the

Chairman Qaumi Watan Party Aftab Ahmad Khan Sherpao has said that Kabul should be included in the Moscow trilateral consultation process on Afghan conflict. In a statement issued here on Thursday, he contended that the Moscow Moot was of vital importance

General Qamar Javed Bajwa visited Bahadur Ranges near Attock on Thursday and witnessed Pak-Jordan joint exercise "Fajr-ul-Sharq 1". It was a two-week long joint counter terrorism training event to share experience of both armies. Speaking on the occasion,

Seven domestic and international flights of Pakistan International Airlines (PIA) on Thursday were cancelled, two flights were reloaded and the remaining flights got delayed. Seven PIA flights, including PK-352 from Karachi to Quetta to Islamabad, PK-363

Benazir Income Support Programme (BISP) is hopeful to complete the pilot phase of re-survey of 16 different districts in the country by April with the objective of updating its National Socio Economic Registry at a cost of around Rs 1 billion. BISP is usi

An elderly woman died while 10 others were wounded when fire erupted in the hotel located near Rawal Dam Chowk on Thursday morning. According to police, the fire broke out due to electricity short-circuit in a room of the hotel and the people who were pre

Pakistan Tax Advisors Association (PTAA) has approached the Federal Board of Revenue (FBR) for extension in date for filing of income tax returns by the companies up to January 31, 2017. In a communication to the FBR here on Thursday, Chairman PTAA Javed

To achieve literacy rate of 90 percent in accordance with 'Vision 2025' is a distant dream, as literacy rate in less-developed areas of the country is less than 30 percent in male and 15 percent in female, but still such areas are facing a step-motherly t

JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the entity rating of Sadaqat Limited (SL) to "A/A-2" (Single A/ A-Two) from "A-/A-2" (Single A Minus/A-Two). Outlook on the assigned rating is "Stable". The previous rating action was announced

JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the entity rating of Sadaqat Limited (SL) to "A/A-2" (Single A/ A-Two) from "A-/A-2" (Single A Minus/A-Two). Outlook on the assigned rating is "Stable". The previous rating action was announced

The Tourism Development Corporation of Punjab (TDCP) has developed 'Punjab Destinations Software' identifying 480 potential tourism sites across the province to help prospective tourists select their destination according to their interests.

The Board of Directors (BoDs) of Punjab Health Foundation (PHF) has accorded the approval to issue interest-free loans up to Rs 10 million for setting up hospitals by the private doctors. However, this loan would be issued on mortgage condition whereas a

President Sialkot Chamber of Commerce and Industry (SCCI) Majid Raza Bhutta on Thursday urged upon the government to take steps for clearance of outstanding sales tax refunds and duty drawback claims amounting to Rs 550 million. That burning issue had res

Punjab governor Malik Muhammad Rafique Rajwana has appreciated the role of traders' community towards improvement of country's economy. He said this while talking to the PML-N Traders wing delegation, which led by Khawaja Khawar Khurshid, called on him, h

Minister of State and Chairperson Benazir Income Support Program (BISP) Marvi Memon has said that poverty alleviation is one of the top priorities of the present regime. The BISP's role is important in this regard while the federal government is working o

Assets of Islamic Banking Industry (IBI) witnessed growth of Rs 43 billion during the quarter (July to September 2016) and reached to Rs 1,788 billion, said quarterly bulletin of the State Bank of Pakistan. Deposits of IBI also increased by Rs 15 billion

Chief of Jamaat-e-Islami, Pakistan, Senator Sirajul Haq, has appealed the masses to offer Namaz-e-Istisqa, (Prayer for rain) tomorrow after Juma prayers. He urged the Ulema and Khatibs in villages, towns and cities all over the country to come out in the

Mian Muhammad Adrees, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) has expressed concern over the suspension of three weekly PIA flights between Faisalabad and Karachi and demanded its immediate restoration. In a state

Pakistan Water and Power Development Authority Chairman Lieutenant General Muzammil Hussain (Retd) has said that the implementation of Mangla Refurbishment Project with an approved PC-I cost of Rs 52.224 billion would enhance generation capacity of the ex

Technical Education and Vocational Training Authority (Tevta) is introducing four months duration free Microsoft Certified IT Course from next month. This course is being offered at Tevta Institutes across the province of the Punjab with the collaboration

"You know I recently returned from vacationing in the West and noticed two major differences between them and us."

Apropos the news item that appeared in Business Recorder on 29th December, 2016, titled "LNG deal not uploaded yet", Pakistan State Oil Company Limited strongly denies the news as the redacted version of the SPA between PSO and Qatargas under Government-t

The European Union has contributed critical funds to enable livelihoods and nutrition programmes, run by the United Nations World Food Programme (WFP), to continue in the hardest-hit drought areas of Sindh. The contribution of nearly US 4.5 million dollar

Pakistan Fruit and Vegetable Exporters Association (PFVA) has said that several issues are major barriers in enhancement of exports of fruit and vegetables and these matters are urgently needs government's attention to anticipate substantial export volume

Sindh High Court (SHC) on Thursday approved bail of three suspects involved in Safoora carnage case on one million surety bonds each. During the hearing the court has directed the suspects to submit surety bonds of Rs 10 lac each. On May 13, gunmen storme

Two recently built ships of Pakistan Maritime Security Agency (PMSA) namely PMSS HINGOL and BASOL arrived at Belawan (Indonesia) on good will visit from December 27 to 30. Pakistani ships upon arrival at Indonesian Port were warmly welcomed by Vice Comman

Traders on Thursday announced to hold a protest demonstration against the KE for its 'negligence' that causes fire outbreaks in the congested markets of old city areas. The traders also blamed the city's 'poor' Fire Brigade Department that is scantly equi

A massive turnaround for Admore Gas (Private) Limited was planned and successfully executed in 2016, which included induction of highly qualified and experienced staff, optimization and development of retail outlet network and the supply chain, upgradatio

United Business Group (UBG) contestant for the president of FPCCI, Zubair Tufail, has demanded of the government to grant tax relief to the local companies and the investors similar to that given to the Chinese companies. He said that the UBG had always g

Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex body of the chambers, has made all arrangement to hold its annual election for the term of 2017, on Friday (today). Voting will begin at 9.30 am and continue till 6 pm.

OMD Pakistan, a part of the Omnicom Media Group, on 30th November, 2016 won the title of 'Pakistan Media Agency of the Year' at the Campaign Asia-Pacific Agency of the Year Awards 2016. This is OMD Pakistan's third consecutive award at Campaign Asia's Age

The Met Office on Thursday forecast mainly cold and dry weather for the most parts of the country in the next 24 hours. It said that the dense foggy conditions were likely to continue over the plain areas of Punjab and Upper Sindh during night and morning

The steel cutting ceremony of the 4th Fast Attack Craft (Missile) and two 32 x Tons Bollard Pull Tugs being built for Pakistan Navy was held here at Karachi Shipyard & Engineering Works today. Dr Nabeel Hayat Malik, Chairman NESCOM, was the chief Guest on

Capital Development Authority (CDA) cancelled lease of various commercial/hotel plots in the federal capital in year 2015-16 over violation of buildings bylaws. According to the documents available with Business Recorder, the following buildings have viol

Minister for Commerce, engineer Khurram Dastgir has expressed his serious concern on a massive decline in new public sector business of National Insurance Company Limited (NICL) which is under investigation on different allegations, well-informed sources

Following in the footsteps of Water and Power Ministry, Pakistan State Oil (PSO) has knocked on the doors of Prime Minister's House for immediate allocation of Rs 30 billion to meet its payment obligations and avoid any untoward situation, well-informed s

Entrepren-eurship Expo was held in COMSATS Institute of Information technology, Attock Campus. The expo was arranged by students of BS/BA of the 7th semester under the supervision of Professor Dr Farzand Ali Jan. Thirty five prospective/current entreprene

Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Water and Power to make withholding tax on dividends as per actual payments and Rate on Return during Construction (RoEDC) as part of Policy Framework for private sector tr

Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Water and Power to make withholding tax on dividends as per actual payments and Rate on Return during Construction (RoEDC) as part of Policy Framework for private sector tr

The annual elections of the Karachi Press Club (KPC) will be held on December 31. An announcement on Thursday said that some 1,000 council members of the KPC would exercise their right of vote. Meanwhile, a meeting of the election committee of the KPC was

Pakistan Tehreek-e-Insaf on Thursday demanded the government to apprise the nation of the objectives achieved through military courts, besides clearing its position on giving further extension as the sunset clause will end on January 07 next year. In a st

Chairman of Pakistan Tehreek-e-Insaf (PTI) Imran Khan has said that successive rulers had deviated from the vision of making Pakistan a true "Islamic Welfare State" after the demise of the father of the nation, Quaid-e-Azam Mohammad Ali Jinnah. He express

Loan disbursements of the National Bank of Pakistan (NBP) under the Prime Minister Youth Business Loan (PMYBL) scheme rose to approximately Rs 15 billion with total number of borrowers exceeding 14,700 by December, 28 2016. "NBP effectively improved its i

Accountability Court No 3 at Karachi on Thursday awarded 5-year imprisonment with penalty to the accused Amjad Hussain in reference No 2/2016. According to details, the convicted accused was proprietor of M/s Akhter Brothers engaged with business of leath

Chinese authorities, in principle, have approved the inclusion of three important projects of province of Sindh viz. Karachi Circular Railway, Keti Bandar Power Park and special jetty and Special Economic Zone Dhabeji in the China-Pakistan Economic Corrid

Following the decision of Opec and non-Opec countries to cut crude oil production that led to increase in crude oil prices internationally, the Oil and Gas Regulatory Authority (OGRA) has calculated an increase of up to Rs 6.93 per litre in local fuel pri

Family and friends of veteran broadcast journalist late Burhanuddin Hassan, who passed away recently in Karachi, gathered on Thursday at Centre for Excellence in Journalism (CEJ) IBA to honour his contribution towards journalism. The participants of the '

A report issued by the Hisaar Foundation has called for extending irrigation system to arid districts of Pakistan, creating new storages and enhancing existing storages at different levels. The policy framework also calls for improvement in water efficien

The Federal Board of Revenue (FBR) has received a total of 810,031 income tax returns for tax year 2016 as compared to 615,416 filed during tax year 2015, reflecting an increase of 32 percent. Sources told Business Recorder here on Thursday that the numbe

Secretary Finance Dr Waqar Masood has stated that the proposed public private partnership authority law is aimed at undertaking mega projects in the country and Infrastructure Project Development Facility (IPDF) would also be merged into it.

The filling station owners have increased the price of compressed natural gas (CNG) in Sindh by up to Rs 3.5 per kilogram. The gas will now remain available for Rs 71 per kg. Aaj News reported on Thursday night that the decision evoked stiff opposition fr

Huge amount of liquor seized during the Punjab police crackdown against drug paddlers in Multan, Gujranwala, Bhakar and Lahore, sources said on Thursday. On a tipoff, the police personnel raided an area of Kot Lakhpat and seized allegedly around 1,000 lit

The Central Shoora of the Jamaat e Islami has described the economic condition of the country extremely grim in view of the 73 billion dollars foreign debt, decreasing exports, and lavish government spending. A resolution adopted by the JI central consult

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting, here Thursday which reviewed progress on programmes of setting up e-libraries and construction of new playgrounds especially cricket grounds in the province. The CM accorded