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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-01-03
2016 - What a year it was!

2016 - What a year it was!

In my memory, after 1971, last year was the most depressing in Pakistan's 69-year history because the human tragedies, cases of massive corruption in state offices, gross administrative neglect, and the consequent failures it led to, manifested the near-f
Published 03 Jan, 2017 12:00am
Ignore social media mischief-makers

Ignore social media mischief-makers

Speaking at a press conference the other day, Interior Minister Chaudhry Nisar Ali Khan lashed out at the social media for what he described as a vilification campaign against the judiciary and the army. The source of his anger was a picture of the Presid
Published 03 Jan, 2017 12:00am
Despite this dismal picture, there is hope
Cotton

Despite this dismal picture, there is hope

The State Bank in its first quarterly report (July-September, 2016) released on 30th December, 2016, has affirmed, in no uncertain terms, that most of the macroeconomic indicators of Pakistan are deteriorating. Contrary to the repeated assertions of the g
Published 03 Jan, 2017 12:00am
El Salvador coffee exports rise 26pc

El Salvador coffee exports rise 26pc

El Salvador coffee exports rose 26 percent in November, the Salvadoran Coffee Council said last week, as plantations recovered from a fungal outbreak known as roya and a drought. El Salvador shipped 4,487 60-kilogram sacks in November, compared with 3,565
Published 03 Jan, 2017 12:00am
Poland's KGHM expects copper price rise to lift overseas prospects

Poland's KGHM expects copper price rise to lift overseas prospects

Poland's KGHM, one of the world's biggest copper producers, expects the price to rise in the mid and long term and boost the prospects for its overseas assets, the firm's chief executive officer said. Expectations of stronger global economic and demand gr
Published 03 Jan, 2017 12:00am
Oil traders see no market rebalancing until later in 2017

Oil traders see no market rebalancing until later in 2017

Crude traders expect the oil market to begin tightening and gradually move into deficit, but the shift is not forecast to occur much before the second half of 2017. The expected timetable for rebalancing is revealed by the changing relationship between Br
Published 03 Jan, 2017 12:00am
Russian oil output in December stays at record highs

Russian oil output in December stays at record highs

Russian oil production in December stood unchanged at 11.21 million barrels per day (bpd), flat month on month and at its highest in almost 30 years, energy ministry data showed on Monday. Russia is preparing to cut output by 300,000 bpd during the first
Published 03 Jan, 2017 12:00am
Burundi arrests union chief for organising tea sector

Burundi arrests union chief for organising tea sector

Burundi police have arrested the head of the main union confederation over plans to organise tea farmers, who account for the country's second biggest export product, the union said Thursday. The president of the Burundi Confederation of Unions (COSYBU),
Published 03 Jan, 2017 12:00am
More dry days expected in already parched Argentina soya areas

More dry days expected in already parched Argentina soya areas

A dry spell in Argentina is posing a threat to soya production in southern parts of bread-basket province Buenos Aires, climate experts said last week, warning that the continued dryness expected in this area could interfere with planting.
Published 03 Jan, 2017 12:00am
Ukraine lawmaker sparks scandal by shooting man in leg

Ukraine lawmaker sparks scandal by shooting man in leg

New Year's Eve passed off peacefully enough in war-torn Ukraine - until a senior lawmaker shot a man in the leg during a testosterone-charged road rage incident. Ukrainians bored by a relative lack of news over the holiday period have been gripped by acco
Published 03 Jan, 2017 12:00am
Horrific Thai road smash kills 25

Horrific Thai road smash kills 25

A minivan and a pickup truck both packed with passengers collided in eastern Thailand on Monday, killing 25 people in a harrowing reminder of the country's notoriously dangerous roads.
Published 03 Jan, 2017 12:00am
Kuwait sentences parents to death for killing toddler

Kuwait sentences parents to death for killing toddler

A court in Kuwait on Monday sentenced a couple to death after finding them guilty of torturing their three-year-old daughter until she died, it said in a statement. The parents, both Kuwaitis, were arrested in May and accused of beating and torturing the
Published 03 Jan, 2017 12:00am
DR Congo set for talks on implementing crisis deal

DR Congo set for talks on implementing crisis deal

Opposing sides in the crisis that has gripped DR Congo will this week hold their first talks on implementing a landmark deal on the country's political future, mediators said Monday.
Published 03 Jan, 2017 12:00am
'Hollyweed': Prankster alters LA's landmark sign

'Hollyweed': Prankster alters LA's landmark sign

The iconic hillside sign overlooking Southern California's film-and-television hub was defaced overnight in honour of marijuana. Residents awoke on Sunday to find "Hollyweed" staring down at them in four-story, white letters from Los Angeles' Mount Lee, w
Published 03 Jan, 2017 12:00am
Colombia's war traumas leave deep mental scars

Colombia's war traumas leave deep mental scars

Colombian rebels may be preparing to lay down their guns, but the nation faces a deeper challenge to heal itself: treating mental illnesses stemming from the trauma of a half-century war.
Published 03 Jan, 2017 12:00am
Ningxia coal-to-liquid plant delivers first shipment

Ningxia coal-to-liquid plant delivers first shipment

A project to convert coal into oil in the north-western Chinese region of Ningxia, the biggest plant of its kind in the world, delivered its first shipment of products on Wednesday, the official China Daily reported.
Published 03 Jan, 2017 12:00am
Soyameal eases on European feeds market

Soyameal eases on European feeds market

Soyameal on the European meals and feeds market was offered mostly easier in slow trade on Friday, the last trading day of 2016. "Prices were mostly nominal and were not tested as there were not many players around who were prepared to make a market today
Published 03 Jan, 2017 12:00am
Indian soyaoil rises, wheat falls

Indian soyaoil rises, wheat falls

Indian soyaoil futures weathered weaknesses abroad and rose on Thursday, a day after it pared early gains to close lower. The January soyaoil contract on the National Commodity & Derivatives Exchange Ltd (NCDEX) was up 0.5 percent at 718.45 rupees ($10.56
Published 03 Jan, 2017 12:00am
Canadian canola futures mostly higher

Canadian canola futures mostly higher

ICE Canadian canola futures were mostly higher on Friday, rebounding from an earlier 2-1/2 month low on short-covering and bargain buying, traders said. Investors continued to exit long positions in front-month January canola, which finished down $2.60 to
Published 03 Jan, 2017 12:00am
CBOT wheat futures higher on strong weekly export

CBOT wheat futures higher on strong weekly export

Wheat futures on the Chicago Board of Trade closed modestly higher on Friday on strong weekly export sales and a softer dollar, but the market ended the year down 13 percent as a record-large global harvest boosted supplies, traders said. CBOT front-month
Published 03 Jan, 2017 12:00am
China takes aim at corn glut with plastics, livestock feed push

China takes aim at corn glut with plastics, livestock feed push

China plans to boost production of biodegradable plastics made out of corn and increase the use of the grain as an animal feed in the next three years, the government said on Thursday the latest effort to absorb a domestic glut that has hurt prices.
Published 03 Jan, 2017 12:00am
Mexico gasoline hike impact marginal for US refiners

Mexico gasoline hike impact marginal for US refiners

An increase in Mexico's ceiling on gasoline prices taking effect in January is expected to have a marginal impact on US refiners, said energy industry analysts. The price ceiling increase announced on Tuesday will lift regular gasoline prices by as much a
Published 03 Jan, 2017 12:00am
Brazil's soya crop to be disrupted by January rains

Brazil's soya crop to be disrupted by January rains

Soya farmers in Brazil are concerned that heavy rains in January could disrupt the start of harvesting of the 2016-2017 crop, forecast at a record 100 million tonnes, growers and industry experts said on Friday.
Published 03 Jan, 2017 12:00am
Cotton market: cautious buying on first day of New Year
Cotton

Cotton market: cautious buying on first day of New Year

Cautious buying was witnessed on the cotton market on the first day of year 2017, dealers said on Monday. The official spot rate was unchanged at Rs 6250, dealers said. In Sindh, seed cotton prices were at Rs 2600-3250, they said that in Punjab, phutti ra
Published 03 Jan, 2017 12:00am
Shallow water hinders Rhine, Danube shipping

Shallow water hinders Rhine, Danube shipping

Shallow water after dry weather in past weeks continues to prevent cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Friday. All of the Rhine and Danube in Germany is too shallow for normal sailings with so
Published 03 Jan, 2017 12:00am
European vegoils: palm oil slips in slow trade

European vegoils: palm oil slips in slow trade

Palm oil on the European vegetable oils market was offered slightly lower on Friday on the last trading day of the year. In slow trade palm oil was offered between unchanged and $7.50 a tonne down, tracking overnight weakness in rival soyoil. Malaysian pa
Published 03 Jan, 2017 12:00am
Weather good for Ivory Coast main cocoa crop

Weather good for Ivory Coast main cocoa crop

Favourable weather in Ivory Coast's main cocoa regions bode well for the April-September mid-crop harvest, farmers said, even though low international prices continued to dent demand. The Harmattan, a northerly wind that blows dust off the Sahara between
Published 03 Jan, 2017 12:00am
US natural gas futures fall on warmer weather

US natural gas futures fall on warmer weather

US natural gas futures fell 2 percent on Friday on forecasts for warmer than usual weather over the next few days, while the market ended its best year since 2005. Front-month gas futures for February delivery on the New York Mercantile Exchange fell 7.8
Published 03 Jan, 2017 12:00am
European wheat shows small annual decline
Currency

European wheat shows small annual decline

European wheat futures ended the trading year on Friday showing a small annual decline after pressure from record global supply was cushioned by a weaker euro and a poor French harvest. Front-month March milling wheat on the Paris-based Euronext exchange
Published 03 Jan, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 388,166 tonnes of cargo comprising 307,322 tonnes of import cargo and 80,844 tonnes of export cargo including 8,719 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday.
Published 03 Jan, 2017 12:00am
US Midwest soyabean bids firmer

US Midwest soyabean bids firmer

Soyabean spot basis bids firmed by 1 cent along the Illinois River on Friday while bids for soyabeans and corn were largely unchanged elsewhere in thin trading ahead of the New Year's Day holiday, grain merchants said.
Published 03 Jan, 2017 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Cash basis bids for hard red winter (HRW) wheat held steady in the southern US Plains on Friday in quiet trade, dealers said. Farmers were delivering against existing contracts and selling small amounts of grain to clean up their books for 2016, one Kansa
Published 03 Jan, 2017 12:00am
US FOB Gulf grains export premiums steady

US FOB Gulf grains export premiums steady

Export premiums for wheat, corn and soyabeans shipped from the US Gulf Coast held steady on Friday, traders said. Activity on the FOB market was light ahead of the New Year's holiday weekend. Markets will be closed on Monday.
Published 03 Jan, 2017 12:00am
New Year Polo Cup begins

New Year Polo Cup begins

The 'New Year Polo Cup 2017' will stroll into action from Tuesday (today) here at Lahore Polo Club (LPC) ground. In all, nine teams are featuring in the tournament, which is being held to welcome the New Year with great gusto and zeal.
Published 03 Jan, 2017 12:00am
Basit Ali removed from junior coaching job

Basit Ali removed from junior coaching job

Pakistan Cricket Board (PCB) Chairman, Shaharyar Mohammad Khan, has relieved Basit Ali from his duties in the women's team and junior team. The Chairman's decision came after he had separate meetings with Basit Ali and Mahmood Hamid in Karachi following a
Published 03 Jan, 2017 12:00am
Indian court orders removal of BCCI chief

Indian court orders removal of BCCI chief

Judges ordered the dismissal Monday of the Indian cricket board's president over the failure to enact a series of recommended reforms, plunging the game's most powerful body into turmoil. In a shock ruling, a panel of Supreme Court judges said Board of Co
Published 03 Jan, 2017 12:00am
Federer returns in style to beat Evans at Hopman

Federer returns in style to beat Evans at Hopman

An emotional Roger Federer made an impressive comeback to tennis on Monday with an easy win over Great Britain's Dan Evans at the Hopman Cup in Perth. The Swiss champion, who has been out of action for six months due to injury, helped his country make a c
Published 03 Jan, 2017 12:00am
Herath keeps pressure on South Africa

Herath keeps pressure on South Africa

Opening batsman Dean Elgar hit a career-best century to guide South Africa out of trouble on the first day of the second Test against Sri Lanka at Newlands on Monday. Elgar made 129 before falling to the second new ball. South Africa were 297 for six at t
Published 03 Jan, 2017 12:00am
Misbah to captain Pakistan in Sydney

Misbah to captain Pakistan in Sydney

Pakistan captain Misbah-ul-Haq said Monday he will lead the side in the third Test against Australia in Sydney, dismissing suggestions he is about to retire. Misbah, 42, raised the possibility following his team's abject innings defeat in the second Melbo
Published 03 Jan, 2017 12:00am
Olympic downhill champion Jean Vuarnet dies

Olympic downhill champion Jean Vuarnet dies

French skier Jean Vuarnet, the Olympic downhill gold medallist in 1960 who gave his name to an exclusive brand of sunglasses, has died at the age of 83, his family announced Monday. Born on January 18, 1933, in Tunis, Vuarnet claimed gold in the US resort
Published 03 Jan, 2017 12:00am
Aussies to prepare in Dubai for India

Aussies to prepare in Dubai for India

Australia plan to prepare for their Indian Test series in Dubai as team officials seek more control over the state of practice pitches, reports said Monday. The tour to face the world's number one side next month has been tagged the "closest thing to miss
Published 03 Jan, 2017 12:00am
Ferrer beats Tomic to dash local hopes at Brisbane

Ferrer beats Tomic to dash local hopes at Brisbane

Former world number three David Ferrer dashed local hopes when he downed Australia's Bernard Tomic in straight sets in the first round of the Brisbane International on Monday. The eighth seeded Spaniard was the model of consistency as he saw off Tomic 6-3
Published 03 Jan, 2017 12:00am
Prime Minister for promotion of literature in society

Prime Minister for promotion of literature in society

Prime Minister Muhammad Nawaz Sharif Monday said promotion of literature in the country can bring greater understanding and inculcate a culture of tolerance among the masses. While talking to his Adviser on National History and Literary Heritage Irfan Sid
Published 03 Jan, 2017 12:00am
FPCCI slams KDLB on 'Go Slow' tactics

FPCCI slams KDLB on 'Go Slow' tactics

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday took serious notice of the "Go Slow" adopted by Karachi Dock Labor Board from December 26 to 30, 2016 to press their demands for imposition of Cess and KDLB Gang booking at the
Published 03 Jan, 2017 12:00am
Sohail reappointed as Chairman Co-ordination FPCCI

Sohail reappointed as Chairman Co-ordination FPCCI

Known business leader of Islamabad Malik Sohail Hussain has been re-appointed as Chairman Co-ordination Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Newly-appointed President of FPCCI Zubair Tufail has appointed Malik Sohail as Chairm
Published 03 Jan, 2017 12:00am
'HR violations in Kashmir to be raised in European Parliament'

'HR violations in Kashmir to be raised in European Parliament'

Former AJK Prime Minister Barrister Sultan Mahmood and British Shadow Foreign Minister Mirza Khalid Mahmood here on Monday said that they would jointly raise voice at all the floors across the globe to expose ongoing atrocities being committed by Indian t
Published 03 Jan, 2017 12:00am
ECP plans to employ biometric voting system in by-election

ECP plans to employ biometric voting system in by-election

The Election Commission of Pakistan (ECP) is likely to use biometric verification machines (BVMs) and electronic voting machines (EVMs) in the next by-election, sources said. Sources said that the ECP has bought some BVMs, EVMs and plans to procure more s
Published 03 Jan, 2017 12:00am
Khattak launches weeklong cleanliness drive

Khattak launches weeklong cleanliness drive

KP Chief Minister Pervez Khattak has launched weeklong cleanliness drive "Guloona Pekhawar" at Warsak Road, here on Monday. The CM was accompanied by provincial Minister for Local Bodies, Inayatullah Khan, district Nazim Peshawar Asim Khan and other offic
Published 03 Jan, 2017 12:00am
TDPs' return to Mir Ali begins

TDPs' return to Mir Ali begins

The return of Temporarily Displaced Persons (TDPs) of Mir Ali Tehsil of North Waziristan Agency began on Monday. FATA Secretariat told our Peshawar correspondent that under the drive, over twelve hundred displaced families will return to their native home
Published 03 Jan, 2017 12:00am
Nisar seeks details of woman languishing in IHK jail

Nisar seeks details of woman languishing in IHK jail

The Ministry of Interior has sought details from Pakistan High Commission in New Delhi pertaining to a Pakistani woman namely Robina, who has been languishing in a jail in India-held Kashmir (IHK) for the last four years.
Published 03 Jan, 2017 12:00am
FTO holds workshop for medium, small scale enterprises

FTO holds workshop for medium, small scale enterprises

Federal Tax Ombudsman (FTO) has organised an awareness workshop regarding its project titled "Public Awareness and Advocacy About Dispute Resolution Mechanism of Federal Tax Ombudsman" for medium and small scale enterprises on Monday at a local hotel of L
Published 03 Jan, 2017 12:00am
USF, Ufone sign agreement on 3G service in Balochistan

USF, Ufone sign agreement on 3G service in Balochistan

The Universal Service Fund (USF) here on Monday awarded Rs 2.33 billion to Pak Telecom Mobile Limited (Ufone) for Awaran/Lasbela Lot under the 'Broadband for Sustainable Development' (BSD) project to launch 3G services in the backward areas of Balochistan
Published 03 Jan, 2017 12:00am
Lawyers meet Pervez Elahi

Lawyers meet Pervez Elahi

Multan District Bar office-bearers and senior lawyers of Multan High Court under leadership of Chaudhry Zulfiqar Sindhu called on PML-Q senior central leader Chaudhry Parvez Elahi at his residence, here on Monday.
Published 03 Jan, 2017 12:00am
APKC decides to constitute delegation to highlight Kashmir issue

APKC decides to constitute delegation to highlight Kashmir issue

The All Parties Kashmir Committee headed by Ameer Jamaat-e-Islami, Senator Sirajul Haq, at its meeting on Monday, decided to constitute a delegation from all parties to highlight Kashmir issue at world level and also to write to the new Secretary General
Published 03 Jan, 2017 12:00am
Women safety smart phone application to be launched on January 4

Women safety smart phone application to be launched on January 4

Chief Minister's Special Monitoring Unit in collaboration with the Punjab Safe Cities Authority and the Punjab Commission on the Status of Women (PCSW) will the launch the Women Safety Smart Phone Application on 4th January 2017.
Published 03 Jan, 2017 12:00am
Chinese model of nutrient management system proposed

Chinese model of nutrient management system proposed

The Vice President of Qingdao Agricultural University, China, Dr Yuan Yongbing has said that the Chinese model of nutrient management system can help Pakistan get optimal yields out of lesser agriculture land. Dr Yuan Yongbing said this during his meeting
Published 03 Jan, 2017 12:00am
Rs 400 million loan distributed to 6,710 Tevta pass-outs

Rs 400 million loan distributed to 6,710 Tevta pass-outs

Technical Education and Vocational Training Authority (TEVTA) has distributed Rs 400 million interest-free loan to 6,710 TEVTA pass outs. This scheme has been initiated to provide loan to its pass-outs across the province of the Punjab through Akhuwat. Th
Published 03 Jan, 2017 12:00am
At least 10 killed, 30 hurt in road accidents

At least 10 killed, 30 hurt in road accidents

At least 10 people were killed and 30 others wounded when four vehicles collided at a tool plaza near Kandhkot and a van collided with a trailer on Sunday/Monday night. According to details, two passenger coaches collided head-on at a tool plaza near Kand
Published 03 Jan, 2017 12:00am
Milk adulterators worst enemies of society: CM

Milk adulterators worst enemies of society: CM

Punjab Chief Minister Muhammad Shehbaz Sharif has issued instruction to the provincial administration to continue an indiscriminate action against production and sale of substandard and unhygienic milk. Production and sale of unhealthy milk is a heinous c
Published 03 Jan, 2017 12:00am
LUMS student wins Rhodes Scholarship

LUMS student wins Rhodes Scholarship

Saman Tariq Malik, an English major from Lahore University of Management Sciences has won the prestigious Rhodes Scholarship. Each year the Rhodes Trust awards this scholarship to one person from each member country to study at Oxford. Saman is the Rhodes
Published 03 Jan, 2017 12:00am
Researchers urged to provide viable solutions to farming problems

Researchers urged to provide viable solutions to farming problems

"It is a matter of grave concern that farmer's son doesn't want to become a farmer due to low profitability, heavy post harvest loses, marketing and other challenges," said University of Agriculture Faisalabad Vice Chancellor Prof Dr Iqrar Ahmad Khan.
Published 03 Jan, 2017 12:00am
PAD introduces changes in administrative system

PAD introduces changes in administrative system

The Punjab Agriculture Department (PAD), following the restoration of Deputy Commissioner System in the province, has also introduced changes in its administrative system at the district level. According to the information released on Monday, the departme
Published 03 Jan, 2017 12:00am
Heart patient expires on hospital floor

Heart patient expires on hospital floor

A female heart patient died on Monday on Jinnah hospital's floor after the hospital administration was not able to find any bed for her. 60-year-old Zahra was the resident of Kasur and was brought to Punjab Institute of Cardiology (PIC) but the doctors re
Published 03 Jan, 2017 12:00am
Tech show looks beyond 'smart,' to new 'realities'

Tech show looks beyond 'smart,' to new 'realities'

The mega-extravaganza of the tech world in Las Vegas is showcasing an array of new devices that get smarts from computer chips, sensors and artificial intelligence, but go further by opening doors to augmented or virtual realities. The Consumer Electronic
Published 03 Jan, 2017 12:00am
Hyundai, Kia target sales rebound after first fall in 18 years

Hyundai, Kia target sales rebound after first fall in 18 years

Hyundai Motor and affiliate Kia Motors on Monday forecast global sales to rebound in 2017 by a stronger-than-expected 5 percent, after posting their first annual sales fall in nearly two decades last year. Sales could get a lift this year with emerging ma
Published 03 Jan, 2017 12:00am
Ukraine slashes gas use as subsidies phased out

Ukraine slashes gas use as subsidies phased out

Ukraine on Monday reported a one-third drop in its use of natural gas and general energy savings that will be cheered by its financial backers from the International Monetary Fund. The IMF has long identified Ukraine as one of Europe's most inefficient co
Published 03 Jan, 2017 12:00am
Mexico factory sentiment slumps to over three-year low

Mexico factory sentiment slumps to over three-year low

Growth in Mexico's manufacturing sector ground to its slowest pace in more than three years in December in the wake of uncertainty hanging over Mexico after the election of Donald Trump as US president, a survey showed on Monday. The Markit Mexico Manufac
Published 03 Jan, 2017 12:00am
Sri Lanka's 2016 fiscal deficit better than target

Sri Lanka's 2016 fiscal deficit better than target

Sri Lanka's 2016 budget deficit is estimated to be better than the International Monetary Fund (IMF)-approved target of 5.4 percent of gross domestic product (GDP), boosted by improved revenue, Finance Minister Ravi Karunanayake said on Monday.
Published 03 Jan, 2017 12:00am
After half century, Volvo overtaken in Sweden

After half century, Volvo overtaken in Sweden

For the first time in more than half a century, Sweden's best-selling car of the year was not a Volvo but the Volkswagen Golf, the Swedish automakers' association said on Monday. The Golf represented 5.9 percent of the new cars market in 2016 ahead of Vol
Published 03 Jan, 2017 12:00am
Southern Europe's bond yields start 2017 at multi-week lows

Southern Europe's bond yields start 2017 at multi-week lows

Borrowing costs in southern Europe fell to multi-week lows on Monday after strong manufacturing data and a rally in stock markets lifted appetite for lower-rated eurozone bonds. Italy and Portugal were among the poorest performing bond markets in the euro
Published 03 Jan, 2017 12:00am
Southern Europe's bond yields start 2017 at multi-week lows

Southern Europe's bond yields start 2017 at multi-week lows

Borrowing costs in southern Europe fell to multi-week lows on Monday after strong manufacturing data and a rally in stock markets lifted appetite for lower-rated eurozone bonds. Italy and Portugal were among the poorest performing bond markets in the euro
Published 03 Jan, 2017 12:00am
New drug approvals fall to six-year low last year

New drug approvals fall to six-year low last year

Last year turned out to be a disappointing one for new drug approvals with the US Food and Drug Administration clearing just 22 new medicines for sale, the lowest number since 2010 and sharply down on 2015's tally of 45.
Published 03 Jan, 2017 12:00am
Contraction of Greek factory activity eases

Contraction of Greek factory activity eases

A downturn in Greek manufacturing slowed in December as declines in output and new orders eased, but companies cut jobs for the first time in seven months as backlogs of work shrank, a survey showed on Monday. Markit's Purchasing Managers' Index (PMI) for
Published 03 Jan, 2017 12:00am
German factory growth reaches close to three-year high

German factory growth reaches close to three-year high

German manufacturing growth reached its highest in almost three years in December, driven by rising demand from Asia and the United States, a survey showed on Monday, suggesting the sector will contribute to an expansion in the fourth quarter.
Published 03 Jan, 2017 12:00am
Eurozone factories entering 2017 in good shape: PMI

Eurozone factories entering 2017 in good shape: PMI

Manufacturers in the eurozone started 2017 on a solid footing, after ramping up activity at the fastest pace in more than five years in December and building up a burgeoning order book, a survey showed on Monday. IHS Markit's final 2016 manufacturing Purc
Published 03 Jan, 2017 12:00am
Polish retail chain Dino plans to debut on Warsaw bourse in 2017

Polish retail chain Dino plans to debut on Warsaw bourse in 2017

Polish retail chain Dino will debut next year in possibly the biggest share offer in 2017 on the Warsaw bourse, Dino's CEO told Reuters. Private equity fund Enterprise Investors plans to sell a stake of up to 49 percent in the business.
Published 03 Jan, 2017 12:00am
India's Nifty index snaps four-day rally; bank stocks hit
Currency

India's Nifty index snaps four-day rally; bank stocks hit

India's NSE index ended lower on Monday in the first trading session of 2017, snapping a four-session winning streak as banks fell on worries their profitability would be hit after reducing lending rates. The NSE bank index fell 1.14 percent, with State B
Published 03 Jan, 2017 12:00am
France's Carrefour eyes IPO of Carmila arm

France's Carrefour eyes IPO of Carmila arm

French retailer Carrefour is eyeing an initial public offering in the second quarter of 2017 for its commercial property arm Carmila that could value Carmila at up to 4.5 billion euros ($4.8 billion), newspaper Les Echos reported.
Published 03 Jan, 2017 12:00am
Short-selling in UK stocks still high going into 2017: Markit

Short-selling in UK stocks still high going into 2017: Markit

Demand to borrow UK stocks to sell short ramped up after Britain's decision to leave the European Union and remains elevated despite the broader market recovery, IHS Markit said on Wednesday. Revenues made from lending British securities is set to rise 27
Published 03 Jan, 2017 12:00am
Australian shares expected to gain in 2017

Australian shares expected to gain in 2017

Australia's stock market is expected to surge in 2017, sloughing off two years of volatile but sideways movement, though the 6,000 point barrier remains out of reach for now, a Reuters poll of analysts and strategists found.
Published 03 Jan, 2017 12:00am
Sri Lankan shares fall as Keells draws selling

Sri Lankan shares fall as Keells draws selling

Sri Lankan shares fell on the first trading day of 2017 as investors sold market heavyweight John Keells Holdings Plc and other blue chips amid worries over a weakening rupee and rising interest rates. Conglomerate John Keells Holdings Plc fell 3.5 percen
Published 03 Jan, 2017 12:00am
European shares to rise in 2017, political uncertainty poses risks

European shares to rise in 2017, political uncertainty poses risks

European shares are expected to rise steadily in 2017, but analysts are cautious over possible shocks after a series of unexpected political upsets raised volatility this year. A Reuters poll of strategists, brokers and analysts taken over the past week p
Published 03 Jan, 2017 12:00am
Major European indexes hit fresh highs

Major European indexes hit fresh highs

Major European equity indexes climbed to new highs in thin trading on Monday, with strong manufacturing reports from the region boosting sentiment on the first trading day of 2017. Italy's FTSE MIB index was up 1.7 percent at its close, hitting its highes
Published 03 Jan, 2017 12:00am
FBR chief presides over passing-out ceremony

FBR chief presides over passing-out ceremony

The Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan presided over a passing out ceremony of 43rd Common at the Inland Revenue Service on Monday. As many as 61 officials, including 26 female officers, passed out and received certificates from t
Published 03 Jan, 2017 12:00am
Holy Quran teaching to be made compulsory in schools: minister

Holy Quran teaching to be made compulsory in schools: minister

Minister for Religious Affairs and Interfaith Harmony Sardar Muhammad Yousuf on Monday said that Holy Quran teaching will be made compulsory in all schools. While talking to journalists in Abbottabad, he said, "It is court's discretion to announce verdict
Published 03 Jan, 2017 12:00am
1023 BHUs to be provided solar energy

1023 BHUs to be provided solar energy

The Punjab government has decided to provide solar energy solutions to 1023 Basic Health Units (BHUs) throughout the province and a summary for approval has been forward to the Planning and Development (P&D) department, said sources. According to the sour
Published 03 Jan, 2017 12:00am
'35 percent reduction in street crimes in Lahore'

'35 percent reduction in street crimes in Lahore'

The street crime in the provincial metropolis has been decreased by 35 percent since the launch of Dolphin Force, claimed SP Mujahid Syed Karrar Hussain here on Monday. "We had equipped the Dolphin squad with latest technology, especially by allowing them
Published 03 Jan, 2017 12:00am
PTCL launches 'Double Up' offer for its customers

PTCL launches 'Double Up' offer for its customers

Pakistan Telecommunication Company Limited (PTCL) has announced the launch of its very exciting 'Double-Up Offer' for its broadband customers. The offer which is valid till 31st March 2017, allows subscribers of 1 Mbps and 2 Mbps packages to double their
Published 03 Jan, 2017 12:00am
NA speaker urges politicians to strengthen NAP

NA speaker urges politicians to strengthen NAP

Speaker of National Assembly Ayaz Sadiq on Monday urged political parties in the country to evolve a joint strategy for further strengthening of the National Action Plan (NAP).
Published 03 Jan, 2017 12:00am
Pakistan all set to submit Yadav's dossier to new UN chief

Pakistan all set to submit Yadav's dossier to new UN chief

Pakistan is all set to update and resubmit a dossier to the new chief of the United Nations, Antonio Guterres itemising Indian subversive activities on Pakistani soil from information gleaned from the arrested serving Indian Navy officer and RAW operative
Published 03 Jan, 2017 12:00am
Educational institutions reopen

Educational institutions reopen

Government and private educational institutions in Punjab and Sindh reopened on Monday after winter vacations. Reportedly, the attendance is dismal on the first day of school after the extensive holidays.
Published 03 Jan, 2017 12:00am
AC returns Raisani's plea bargain application

AC returns Raisani's plea bargain application

An accountability court (AC) in Quetta on Monday returned the plea bargain application of former finance secretary Mushtaq Raisani after he agreed to return Rs 2 billion to National Accountability Bureau (NAB).
Published 03 Jan, 2017 12:00am
Efforts on for repatriation of 4 Pakistani crew: envoy

Efforts on for repatriation of 4 Pakistani crew: envoy

The government of Pakistan is making efforts for repatriation of 04 crew members and has provided food, medical care and legal assistance to the rest of the crew on board the stranded cargo ship, MV Akkaz, in the Red Sea, near Port Tawfik, Egypt.
Published 03 Jan, 2017 12:00am
Hashmi's allegations termed 'childish'

Hashmi's allegations termed 'childish'

General Tariq Khan (retd) on Monday strongly rejected the allegations levelled by veteran politician Javed Hashmi about his alleged involvement in Pakistan Tehreek-e-Insaf's (PTI) dharna in Islamabad in 2014.
Published 03 Jan, 2017 12:00am
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