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Print - 2017-01-06
Damascus water crisis grows as fighting threatens truce

Damascus water crisis grows as fighting threatens truce

A major water crisis in Syria's capital worsened as regime and rebel forces clashed near its main reservoir Thursday despite a fragile truce that entered its seventh day. The water from rebel-held Wadi Barada, which supplies four million people in Damascu
Published 06 Jan, 2017 12:00am
Scientists disprove global warming took a break

Scientists disprove global warming took a break

A reported pause in global warming between 1998 and 2014 was false, according to US-British research published Wednesday that confirmed the findings of a controversiial US study on ocean warming Scientists at the University of California, Berkeley, and th
Published 06 Jan, 2017 12:00am
Zameen.com Property Expo 2017 from January 7

Zameen.com Property Expo 2017 from January 7

Zameen.com, Pakistan's leading real estate website, is set to hold its first property affair of the year, Zameen.com Property Expo 2017 (Karachi), on January 7 and 8 at the Expo Centre, Karachi. Noteworthy real estate developers and agents such as Propert
Published 06 Jan, 2017 12:00am
60 illegal shops demolished

60 illegal shops demolished

The district administration demolished more than 60 illegal shops and illegally constructed markets in an anti-encroachment operation on G.T. Road. The operation on G.T. Road will be followed by similar action against encroachments in other areas, includi
Published 06 Jan, 2017 12:00am
SU notifies five-year LLB semester program

SU notifies five-year LLB semester program

The Inspector of Colleges has notified the Principals of all law colleges affiliated with University of Sindh that the 5-year LLB morning program under semester system is being implemented in letter and spirit from the academic year 2017, in the light of
Published 06 Jan, 2017 12:00am
KP decides to sell out land on 99-year lease

KP decides to sell out land on 99-year lease

The Small Industrial Development Board of Khyber Pakhtunkhwa decided on Thursday to sell out commercial and industrial plots in the industrial estates operated by it on a 99 years' lease. The meeting was chaired by Chief Minister Pervez Khattak. The Board
Published 06 Jan, 2017 12:00am
PM calls for Zarb-e-Qalam against extremism, intolerance

PM calls for Zarb-e-Qalam against extremism, intolerance

Prime Minister Muahmmad Nawaz Sharif Thursday stressed the need for operation Zarb-e-Qalam just like anti-terror operation Zarb-e-Azb to fight the forces spreading extremism and intolerance in the society. "Just like operation Zarb-e-Azb,
Published 06 Jan, 2017 12:00am
'Success of CPEC lies in adopting integrated approach'

'Success of CPEC lies in adopting integrated approach'

Former Director Operations of World Bank Ziad Alahadad has said that China-Pakistan Economic Corridor (CPEC) is the largest consolidated programme of energy investment in Pakistan but there is a need of capacity building and good governance to achieve the
Published 06 Jan, 2017 12:00am
PSMA demands action against 'harassment' of importers

PSMA demands action against 'harassment' of importers

Chairman of Pakistan Soap Manufacturers Association (PSMA) A. Abdullah Zaki has urged the Prime Minister, Finance Minister and Chairman of the Federal Board of Revenue (FBR) to take appropriate action against those officials of Customs Intelligence and In
Published 06 Jan, 2017 12:00am
MOL Pakistan rejects FIA's inquiry report

MOL Pakistan rejects FIA's inquiry report

Hungarian based oil and gas exploration and production company-MOL Pakistan on Thursday rejected FIA's initial inquiry report accusing its officials with the connivance of government officials of stealing crude worth billion of rupees. While talking to Bu
Published 06 Jan, 2017 12:00am
Tahir Hassan assumes office as ABL CEO

Tahir Hassan assumes office as ABL CEO

Tahir Hassan Qureshi has assumed office of the chief executive officer (CEO) of Allied Bank Limited with effect from January 01, 2017. According to material information sent to Pakistan Stock Exchange (PSX), Tahir Hassan Qureshi has replaced Tariq Mahmood
Published 06 Jan, 2017 12:00am
Asad Umar hospitalised

Asad Umar hospitalised

Senior Pakistan Tehreek-e-Insaf leader Asad Umar was shifted to a hospital in the wee hours of Thursday, his party`s spokesperson said. MPA Khurram Sherzaman said that Umar, after arriving at Karachi`s Jinnah International Airport from Islamabad, was imme
Published 06 Jan, 2017 12:00am
Bank Alfalah BoDs approve continuation of services contract of Bajwa

Bank Alfalah BoDs approve continuation of services contract of Bajwa

The Board of Directors of Bank Alfalah Limited has accorded its approval for the continuation of the services contract of Atif Bajwa, Chief Executive Officer (CEO), at the current salary and benefits along with a few clarificatory amendments as per amendm
Published 06 Jan, 2017 12:00am
Four stranded Pakistanis arrive in Karachi

Four stranded Pakistanis arrive in Karachi

The dues of 17 Pakistani crewmembers of Kuwaiti ship stuck at Egypt's port could not be cleared yet. Four crewmembers identified as Tanveer Ahmad, Umar Ghauri, Muhammad Tariq and Sami Ullah reached Pakistan without their salaries Thursday due to family pr
Published 06 Jan, 2017 12:00am
UBL's new Head Office inaugurated

UBL's new Head Office inaugurated

UBL's new Head Office was inaugurated on December 19, 2016. To celebrate this landmark achievement, the Bank hosted a grand dinner for its key stakeholders at the Mohatta Palace in Karachi. Sir Mohammed Anwar Pervez, OBE, HPk, Chairman of the Board of Dir
Published 06 Jan, 2017 12:00am
Railways Golf and Country Club: Senate body summons NAB officials

Railways Golf and Country Club: Senate body summons NAB officials

Following the interim order of Lahore High Court to look after the issues related to Pakistan Railways Golf and Country Club, the Senate Standing Committee on Railways has summoned National Accountability Bureau (NAB) and formed a three-member committee.
Published 06 Jan, 2017 12:00am
OSF think-tank to propose strategy to prevent thalassemia

OSF think-tank to propose strategy to prevent thalassemia

Renowned oncologist and president of Omair Sana Foundation (OSF) Dr Kashif Ansari said that OSF had constituted a five-member think-tank to plan a strategy to make government implement the Thalassemia Prevention Bill 2014. "Government must adopt needed me
Published 06 Jan, 2017 12:00am
Anti-corruption team raids BIEK Controller's residence

Anti-corruption team raids BIEK Controller's residence

Anti-corruption police conducted a raid at the residence of controller examination of Board of Intermediate Education in the wee hours of Thursday. Imran Chishti was not at his house at the time of the raid. The anti-corruption team left empty-handed afte
Published 06 Jan, 2017 12:00am
Reserves decline

Reserves decline

The country's total liquid foreign reserves declined by $122 million during the last week mainly due to payment of external debt. According to State Bank of Pakistan (SBP), the country's total liquid foreign exchange reserves stood at $23.164 billion as o
Published 06 Jan, 2017 12:00am
On Islamabad's bike lanes, residents pedal towards a greener city

On Islamabad's bike lanes, residents pedal towards a greener city

Cyclists are taking to the streets of the capital, after the Islamabad Metropolitan Corporation officially opened dedicated bike lanes for the first time, aiming to promote a greener environment and better public health. Local authorities hope the 5 km (3
Published 06 Jan, 2017 12:00am
Excise inspector, patwari held for taking bribe

Excise inspector, patwari held for taking bribe

The Anti-Corruption Establishment Punjab has arrested an excise inspector, pension clerk of district accounts office Gujrat and a patwari from Okara red handed while taking gratification. Cases were also registered against XEN Public Health Engineering, D
Published 06 Jan, 2017 12:00am
PCG seizes huge quantity of hashish, liquor

PCG seizes huge quantity of hashish, liquor

Pakistan Coast Guards (PCG) on Thursday seized huge quantity of fine quality hashish, foreign brand liquor and beer cans from general area Sir Dasht near Pasni Airport and Nalient. According to PCG spokesman, Major Zafar Ahmed (R), PCG officials received
Published 06 Jan, 2017 12:00am
Bilawal, Zardari to contest elections on same 'Arrow' symbol

Bilawal, Zardari to contest elections on same 'Arrow' symbol

PPP Chairman Bilawal Bhutto Zardari and co-chairman Asif Ali Zardari will contest bye elections to the National Assembly on the same election symbol of 'Arrow.' A spokesman of the Bilawal House here on Thursday denied reports in the media that the two lea
Published 06 Jan, 2017 12:00am
Beijing to provide loan for ML-1 project's up-gradation

Beijing to provide loan for ML-1 project's up-gradation

Beijing while terming the main line (ML-1) a strategically important project of China-Pakistan Economic Corridor (CPEC) has agreed to provide long-term loan on most favourable terms for its up-gradation from Karachi to Peshawar, said Federal Minister for
Published 06 Jan, 2017 12:00am
Dozens of Indian fishermen released

Dozens of Indian fishermen released

Government on Thursday freed 219 Indian fishermen who had strayed into its waters, an official said, calling it a "goodwill gesture" ten days after a similar number were also released. The fishermen, some of whom had been in jail for more than a year, wil
Published 06 Jan, 2017 12:00am
33.5 million shares of AIM to be sold to POAMCL

33.5 million shares of AIM to be sold to POAMCL

The Board of Directors of Askari Bank Limited has resolved to sell 33.5 million shares of Askari Investment Management Limited, constituting 100 percent of the issued and paid up share capital of the said company to Pak Oman Asset Management Company Limit
Published 06 Jan, 2017 12:00am
Cold and dry weather forecast for most parts

Cold and dry weather forecast for most parts

The snowfall plunged Kalam into a nine-inch deep white cover as winter rainfall continued across the upcountry over the last 24 hours, the Met Office said on Thursday. Garidupatta received maximum 13mm of rain followed by Muzaffarabad, Kamra, and Dir 8mm,
Published 06 Jan, 2017 12:00am
CDC conducting nationwide investor awareness seminars

CDC conducting nationwide investor awareness seminars

The Central Depository Company (CDC) is conducting nationwide investor awareness seminars, with the first phase of these sessions being held in the northern parts of the country, including Azad Kashmir. The seminars are aimed at enhancing the awareness of
Published 06 Jan, 2017 12:00am
CDC conducting nationwide investor awareness seminars

CDC conducting nationwide investor awareness seminars

The Central Depository Company (CDC) is conducting nationwide investor awareness seminars, with the first phase of these sessions being held in the northern parts of the country, including Azad Kashmir. The seminars are aimed at enhancing the awareness of
Published 06 Jan, 2017 12:00am
Tevta Board approves promotion framework for employees

Tevta Board approves promotion framework for employees

Technical Education and Vocational Training Authority (TEVTA) Board on Thursday approved the promotion framework for its employees in Punjab. Through implementation of the policy, more than 4000 TEVTA employees of TEVTA institutes and ices across the prov
Published 06 Jan, 2017 12:00am
30 percent growth in companies' registration in December

30 percent growth in companies' registration in December

The number of companies registered with the SECP during December 2016 has showed a remarkable growth of 30 percent over the corresponding month of the last year. This shows that corporate growth momentum continues. The number of companies incorporated in
Published 06 Jan, 2017 12:00am
Firpo asks Nawaz to withdraw FBR's discretionary powers

Firpo asks Nawaz to withdraw FBR's discretionary powers

President of Karachi Chamber of Commerce and Industry (KCCI), Shamim Ahmed Firpo has urged the Prime Minister Mian Muhammad Nawaz Sharif to withdraw all discretionary powers given to the Federal Board of Review (FBR) which have proven to be counterproduct
Published 06 Jan, 2017 12:00am
Torture on minor maid

Torture on minor maid

On submission of report by Registrar Islamabad High Court on Thursday regarding torture on minor maid servant working in the house of a judicial officer, Chief Justice Mian Saqib Nisar has fixed the matter in Court on Friday (today). Notices have been iss
Published 06 Jan, 2017 12:00am
Pakistani Ambassador plants tree in Beijing

Pakistani Ambassador plants tree in Beijing

Ambassador of Pakistan to China, Masood Khalid visited China World Peace Foundation in Beijing on Thursday and met Li Ruo Hong, Chairman of China World Peace Foundation. During the meeting with Li, the Ambassador discussed issues of mutual interest. He me
Published 06 Jan, 2017 12:00am
FO concerned at India's sinister IoK designs

FO concerned at India's sinister IoK designs

Foreign Office on Thursday expressed deep concern over the Indian attempts of demographic change in the Occupied Jammu and Kashmir, urging the international community to take notice of the violation of the internal laws by the Indian government.
Published 06 Jan, 2017 12:00am
One-window facility planned at HED

One-window facility planned at HED

Provincial Higher Education Minister Syed Raza Ali Gillani has directed to set up one widow operation facility/complaint office in the Higher Education Department. This cell would expeditiously work to solve the public issues as well as clear out the comp
Published 06 Jan, 2017 12:00am
18-member parliamentary body to oversee handling of blocked CNICs

18-member parliamentary body to oversee handling of blocked CNICs

The Ministry of Interior Thursday constituted 18 members parliamentary committee to oversee handling of blocked Computerised National Identity Cards (CNICs) by National Database and Registration Authority (NADRA) and address complaints of general public i
Published 06 Jan, 2017 12:00am
CGH Netherlands to sell its shareholding in General Tyre

CGH Netherlands to sell its shareholding in General Tyre

The Continental Global Holding Netherlands B.V. has decided to sell its entire shareholding ie 9.78 percent in the General Tyre and Rubber Company of Pakistan Limited as soon as practically and economically feasible. The Continental Global Holding Netherl
Published 06 Jan, 2017 12:00am
UCP hosts fifth annual Parliamentary Debating Championship

UCP hosts fifth annual Parliamentary Debating Championship

The Debating Society of University of Central Punjab (UCP) hosted and conducted fifth Annual All Pakistan Parliamentary Debating Championship. The championship hosted 32 institutions from all over Pakistan. The tournament was judged by one of the best spe
Published 06 Jan, 2017 12:00am
'Enough' evidence submitted in SC: Imran

'Enough' evidence submitted in SC: Imran

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Thursday reiterated that Prime Minister Nawaz Sharif sent 'corruption money' abroad through money laundering and established offshore companies on his children's name to hide the corrupt money. Speakin
Published 06 Jan, 2017 12:00am
FBR sends list of over 100 taxpayers to field formation

FBR sends list of over 100 taxpayers to field formation

The Federal Board of Revenue (FBR) has reportedly communicated a list of over 100 taxpayers to its field formation for aggressive tax recovery exercise in order to overcome a whopping revenue shortfall of over Rs 127 billion reported in the first half of
Published 06 Jan, 2017 12:00am
PPL donates Rs 10.05 million to Mayo Hospital

PPL donates Rs 10.05 million to Mayo Hospital

Pakistan Petroleum Limited (PPL) donated Rs 10.05 million to Mayo Hospital (MH), Lahore for purchasing six anaesthesia machines for its emergency surgical ward. MD & CEO PPL Syed Wamiq Bokhari handed over the donation cheque to Head of Resource Mobilisati
Published 06 Jan, 2017 12:00am
Smeda completes 16 common facility centres at Rs 1.5 billion

Smeda completes 16 common facility centres at Rs 1.5 billion

The Small and Medium Enterprises Development Authority (Smeda) has successfully completed 16 common facility centres (CFCs) under the Public Sector Development Programme (PSDP) across the country at a cost of Rs 1.5 billion. According to a recent report c
Published 06 Jan, 2017 12:00am
Punjab government mulling sending 100,000 workers to Qatar

Punjab government mulling sending 100,000 workers to Qatar

The government of Punjab is planning to export the entire 100,000 additional skilled and unskilled workers to Qatar, completely ignoring other three provinces in a bid to strengthen its vote bank in the next general election. The Emir of Qatar had announc
Published 06 Jan, 2017 12:00am
Organisational structure of PAFDA approved

Organisational structure of PAFDA approved

Punjab Chief Minister Shahbaz Sharif presided over first meeting of Board of Punjab Agriculture Food and Drug Authority (PAFDA), here on Thursday which accorded approval to organisational structure and other affairs of the authority. Addressing the meetin
Published 06 Jan, 2017 12:00am
LHC suspends victory notifications

LHC suspends victory notifications

The Lahore High Court on Thursday suspended victory notifications of Chairman and Vice Chairman from Nishtar Town UC-139 and sought detailed reply from the election commission. A voter of the constituency, Zameer Khan, through his counsel argued that nomi
Published 06 Jan, 2017 12:00am
Kashmir: Sartaj writes to UN chief

Kashmir: Sartaj writes to UN chief

Adviser to Prime Minister on Foreign Affairs, Sartaj Aziz has sent a letter to United Nations Secretary General Antonio Guterres in which the Kashmir issue was raised. In the letter, Sartaj Aziz notes the challenges confronting the region and how these ch
Published 06 Jan, 2017 12:00am
'KPEC saves Rs 581 million under good governance initiative'

'KPEC saves Rs 581 million under good governance initiative'

Director General (DG) Khyber Pakhtunkhwa Ehtesab Commission (KPEC), Sajjad Khan has said that the commission has saved an amount of Rs 581 million under the good governance initiative and through timely intervention in different departments and projects i
Published 06 Jan, 2017 12:00am
HRCP concerned at Lahore's closure to prevent protest

HRCP concerned at Lahore's closure to prevent protest

The Human Rights Commission of Pakistan (HRCP) has voiced grave concern over the cavalier manner of the authorities in closing down Lahore on Wednesday, apparently to prevent a protest. In a statement issued on Thursday, the Commission said: "HRCP is shoc
Published 06 Jan, 2017 12:00am
Wheat to be sown over 0.5 million acres of land in Sialkot

Wheat to be sown over 0.5 million acres of land in Sialkot

Over 5.10 lakh acres of land would be brought under wheat crop during Rabi crop season in Sialkot district. Sources in Agriculture department told Business Recorder on Thursday on that in order to attain the fixed target of wheat crop, the Agricult
Published 06 Jan, 2017 12:00am
Healthcare providers get HIV training

Healthcare providers get HIV training

The Punjab AIDS Control Program (PACP) organised training of healthcare providers on HIV/AIDS, treatment and counselling, here on Thursday. The training was attended by doctors, staff nurses and paramedics from the PIC. The training covered areas of couns
Published 06 Jan, 2017 12:00am
Recalcitrant tanker owners refuse to budge

Recalcitrant tanker owners refuse to budge

The Karachi Metropolitan Corporation has failed to end the illegal parking of tankers across the city, with fuel oil carriers continuing to cause traffic chaos. The KMC had asked the transporters to move their tankers to the newly developed Zulfiqarabad O
Published 06 Jan, 2017 12:00am
LUMS announces establishment of School of Education

LUMS announces establishment of School of Education

The Lahore University of Management Sciences (LUMS) Thursday announced the establishment of a School of Education following the approval of the Board of Trustees. The School of Education joins as the fifth school at LUMS after the already established scho
Published 06 Jan, 2017 12:00am
PAD spends Rs 113.6 million to improve soil productivity

PAD spends Rs 113.6 million to improve soil productivity

Punjab Agriculture department (PAD) has launched a five year comprehensive plan costing Rs 113.655 million in order to improve productivity and profitability through soil diagnostics for the promotion of balanced use of macro and micro fertilisers and soi
Published 06 Jan, 2017 12:00am
Jovago launches 'Dream Deals'

Jovago launches 'Dream Deals'

Following the successful 2016 Black Friday campaign, Jovago has launched a campaign dubbed "Dream Deals". The campaign's main objective is to carry on readily negotiated rates referred to as "Dream Deals" with the aim of encouraging and facilitating trave
Published 06 Jan, 2017 12:00am
140,837 cases pending before LHC

140,837 cases pending before LHC

The Lahore High Court Chief Justice said that total number of cases pending before the LHC and its benches till December 24 stands at 140,837. The CJ said the LHC has shown a positive trend of disposal of cases. He said the LHC and its benches have dispos
Published 06 Jan, 2017 12:00am
Cement industry plans to increase its capacity: APCMA

Cement industry plans to increase its capacity: APCMA

Encouraged by consistent domestic demand and government's thrust on sizable infrastructure projects, the cement industry has planned to increase its capacity by 26.25 million tons to ensure smooth growth of the economy. The All Pakistan Cement Manufacture
Published 06 Jan, 2017 12:00am
Child maid: Christian lawyer welcomes suo motu action

Child maid: Christian lawyer welcomes suo motu action

Christian Lawyer and Human Rights Activist Jacqueline Sultan on Thursday welcomed the suo moto action by the Chief Justice, Supreme Court of Pakistan of child maid's alleged torture. She said as per report the owners of the house would usually lock her up
Published 06 Jan, 2017 12:00am
HESCO announces eight-hour power suspension

HESCO announces eight-hour power suspension

The spokesman of Hyderabad Electric Supply Company (HESCO) has announced eight hours long power suspension in 13 11 KV Feeders of 132 KV Latifabad Grid Station from 8 am to 4 pm on January 7, 2017. The Feeders included: Fateh, Fort, Bund, New Cantonment,
Published 06 Jan, 2017 12:00am
Speakers for changing attitude of policemen, wardens

Speakers for changing attitude of policemen, wardens

Speakers at a seminar stressed the need to change the attitude of policemen and traffic wardens towards citizens by providing them proper counselling, especially to those who are performing their duties on roads to check 'traffic violators' and criminals.
Published 06 Jan, 2017 12:00am
Tax evasion in various sectors needs to be checked, taxmen told

Tax evasion in various sectors needs to be checked, taxmen told

Directorate General of Intelligence and Investigation Inland Revenue (IR), Federal Board of Revenue (FBR), will implement a national enforcement strategy to control the illicit trade of non-duty paid cigarettes and take measures to control tax evasion in
Published 06 Jan, 2017 12:00am
ZSP officials directed to improve performance

ZSP officials directed to improve performance

Federal Minister for Climate Change Zahid Hamid on Thursday directed officials of Zoological Survey of Pakistan to improve their performance and resolve all pending issues of the department at the earliest. He said this while chairing a meeting of the Zoo
Published 06 Jan, 2017 12:00am
PRC distributes relief package among poor families

PRC distributes relief package among poor families

Pakistan Red Crescent (PRC) local chapter distributed relief package among 140 poor families of Bajaur Agency here on Thursday. The packages were distributed at a ceremony held at Bajaur Sports Complex Khar, which attended by officials of Pakistan Red Cre
Published 06 Jan, 2017 12:00am
PMSA recovers 1.5 tons of hashish from boat

PMSA recovers 1.5 tons of hashish from boat

Pakistan Maritime Security Agency (PMSA) recovered 1.5 tons of hashish from a boat in Western Maritime Region on Wednesday. PMSA through its own sources and in co-ordination with Pakistan Customs Intelligence had information that high quality narcotics wo
Published 06 Jan, 2017 12:00am
Traders, industrialists need to develop expertise in branding: Rabbani

Traders, industrialists need to develop expertise in branding: Rabbani

Chairman Senate Mian Raza Rabbani said that as the Muslim scientists always led the world in the field of scientific inventions, the Pakistani traders and industrialists need to develop expertise in the field of branding to come to par in the global econo
Published 06 Jan, 2017 12:00am
Hyderabad traders complain against power breakdown

Hyderabad traders complain against power breakdown

Office bearers of the Hyderabad Chamber of Small Traders and Small Industry has expressed regret over the long hours load-shedding in Hyderabad which is badly affecting the business and industry in the city.
Published 06 Jan, 2017 12:00am
Condolence

Condolence

Sarmad Ali, President and Umer Mujib Shami, Secretary General of the All Pakistan Newspapers Society have expressed profound grief on behalf of APNS office bearers and members of the Executive Committee on the sad demise of Mohtarma Akbari Begum, elder si
Published 06 Jan, 2017 12:00am
Cotton hits five-month high on rising demand hopes, weaker dollar
Cotton

Cotton hits five-month high on rising demand hopes, weaker dollar

ICE cotton futures jumped over 3 percent on Wednesday and hit a near five-month high on expectations of improvement in demand for the natural fibre and on an easing dollar. The March cotton contract on ICE Futures US touched a session high of 74.23 cents
Published 06 Jan, 2017 12:00am
Shanghai copper surges

Shanghai copper surges

The most-traded copper contract on the Shanghai Futures Exchange gained 0.88 percent to 45,760 yuan ($6,607) a tonne on Thursday, aided by a brightening outlook for Chinese metals demand. Elsewhere in metals, ShFE aluminium was down 0.4 percent at 12,570
Published 06 Jan, 2017 12:00am
Copper slips as investors take profits

Copper slips as investors take profits

Copper slipped on Thursday as investors cut bets on higher prices, although expectations of robust growth in China and a surge in the yuan supported optimism about demand in the world's largest consumer of industrial metals. Benchmark copper on the London
Published 06 Jan, 2017 12:00am
Oil rebounds as Saudi output cuts offset US products build

Oil rebounds as Saudi output cuts offset US products build

Oil prices rose on Thursday in an up-and-down session, lifted by news that Saudi Arabia had cut production to meet Opec's agreement to cut output after falling on data showing a surprisingly large increase in US gasoline and distillate inventories.
Published 06 Jan, 2017 12:00am
Rubber down

Rubber down

Benchmark Tokyo rubber futures ended slightly down on Thursday as gains from overnight oil prices were offset by a stronger yen and sluggish Shanghai futures. TOCOM came under pressure from a strong yen and weak Shanghai futures, said a Tokyo-based dealer
Published 06 Jan, 2017 12:00am
Palm oil slips
Currency

Palm oil slips

Malaysian palm oil futures fell for a second consecutive session on Thursday evening on the back of a stronger ringgit, and as it tracked weaker performing related oils on China's Dalian Commodity Exchange. Benchmark palm oil futures for March delivery on
Published 06 Jan, 2017 12:00am
Sugar sets seven-week high on fund buying, India crop woes

Sugar sets seven-week high on fund buying, India crop woes

Raw sugar futures on ICE struck a seven-week high on Thursday, boosted by fund buying and diminished production prospects in top consumer India. The market has surged during the last few days as a shortage of cane in the major producing state of Maharasht
Published 06 Jan, 2017 12:00am
Gold surges in New York

Gold surges in New York

Gold rose to the highest in nearly four weeks on Wednesday as the dollar edged back from a 14-year peak and physical demand from major consumers China and India increased. Spot gold climbed to its highest since December 9 at $1,167.83 an ounce and was up
Published 06 Jan, 2017 12:00am
Gold climbs in Asia

Gold climbs in Asia

Gold touched its highest in four weeks on Thursday as the US dollar stepped further away from a 14-year peak hit earlier this week, and on a technical rebound. Spot gold was up 1.3 percent at $1,178.36 an ounce by 0641 GMT. It touched a high of $1,178.62,
Published 06 Jan, 2017 12:00am
Gold at four-week high in Europe

Gold at four-week high in Europe

Gold touched its highest in four weeks on Thursday as the dollar slipped further from a 14-year peak hit earlier this week, while palladium and platinum extended weekly gains. Spot gold rose as much as 1.5 percent to its highest since December 5 at $1,179
Published 06 Jan, 2017 12:00am
German roaster Tchibo raises retail coffee prices

German roaster Tchibo raises retail coffee prices

Leading German coffee roaster Tchibo said on Tuesday it is increasing its retail coffee prices because of high coffee futures and the weaker euro. As an example, the price for a 500 gramme pack of Tchibo's top selling brand, Fine Mild, will rise on Januar
Published 06 Jan, 2017 12:00am
US MIDDAY: wheat rises near six-week high

US MIDDAY: wheat rises near six-week high

US wheat futures rose to their highest in nearly six weeks on Thursday on a round of short-covering after weakening overnight, traders said. Corn also firmed, with strength in wheat lending support to the yellow grain while soyabeans eased on a round of p
Published 06 Jan, 2017 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

US wheat futures rose to their highest in nearly six weeks on Thursday on a round of short-covering after weakening overnight, traders said. Corn also firmed, with strength in wheat lending support to the yellow grain while soyabeans eased on a round of p
Published 06 Jan, 2017 12:00am
US MIDDAY: gold jumps to one-month top

US MIDDAY: gold jumps to one-month top

Gold rose to its highest price in one month on Thursday as the dollar slipped further below a 14-year peak hit earlier this week, while palladium turned lower after extending this week's steep gains to a four-week high. Spot gold rose as much as 1.85 perc
Published 06 Jan, 2017 12:00am
'An expedient memory recall'

'An expedient memory recall'

This is apropos a Business Recorder op-ed "An expedient memory recall" carried out by the newspaper yesterday. The writer seems to have taken a non-charitable view of veteran but maveric politician Javed Hashmi.
Published 06 Jan, 2017 12:00am
Energy resources

Energy resources

The trouble with decision-makers is that they are not only proved to be incompetents but are also complacent. Why we are not exploring new wells is beyond imagination. No measures have been taken to exploit long-term benefits. It seems like some people ar
Published 06 Jan, 2017 12:00am
Intellectual honesty and moral obligation

Intellectual honesty and moral obligation

Intellectual honesty is seeking truth regardless of whether the truth agrees with one's own personal feelings and/or beliefs or not. This means not lying to oneself or to others on what is clearly self-evident. Closely related to what one calls "old-fashi
Published 06 Jan, 2017 12:00am
New Chief Justice, old challenges

New Chief Justice, old challenges

In any society, administration and dispensation of justice should be the top most priority. A society without a sound, reliable and speedy judicial system, which does not ensure effective dispensation of justice, cannot progress or even survive for a long
Published 06 Jan, 2017 12:00am
Terror attack in Istanbul

Terror attack in Istanbul

Having repeatedly come under terrorist attacks, Turkey was on high alert as revellers gathered at an upscale night-club in Istanbul to welcome the New Year. Yet a lone gunman managed to sneak in and shoot down 39 people, several of them foreign tourists.
Published 06 Jan, 2017 12:00am
The importance of independent directors

The importance of independent directors

The State Bank took another step on 28th December, 2016 to streamline the functioning of financial institutions by revising the definition of their independent directors and raising their minimum number from 25 percent to 33 percent with effect from 31st
Published 06 Jan, 2017 12:00am
GST collection: FBR implementing new system for cellular companies

GST collection: FBR implementing new system for cellular companies

The Federal Board of Revenue (FBR) is implementing a new system for cellular companies for accurate collection/deposit of withholding tax from its subscribers through online withholding data integration with all mobile operators. Senior FBR officials info
Published 06 Jan, 2017 12:00am
GST collection: FBR implementing new system for cellular companies

GST collection: FBR implementing new system for cellular companies

The Federal Board of Revenue (FBR) is implementing a new system for cellular companies for accurate collection/deposit of withholding tax from its subscribers through online withholding data integration with all mobile operators. Senior FBR officials info
Published 06 Jan, 2017 12:00am
GST collection: FBR implementing new system for cellular companies

GST collection: FBR implementing new system for cellular companies

The Federal Board of Revenue (FBR) is implementing a new system for cellular companies for accurate collection/deposit of withholding tax from its subscribers through online withholding data integration with all mobile operators. Senior FBR officials info
Published 06 Jan, 2017 12:00am
GST collection: FBR implementing new system for cellular companies

GST collection: FBR implementing new system for cellular companies

The Federal Board of Revenue (FBR) is implementing a new system for cellular companies for accurate collection/deposit of withholding tax from its subscribers through online withholding data integration with all mobile operators. Senior FBR officials info
Published 06 Jan, 2017 12:00am
MoF supports extension in subsidy on agriculture tubewell tariff

MoF supports extension in subsidy on agriculture tubewell tariff

Finance Ministry has reportedly supported extension in subsidy on agriculture tubewell tariff to Balochistan with the condition of a reduction in GoP ratio from 40 to 30 per cent and an increase in GoB share to 70 per cent, well-informed sources in Financ
Published 06 Jan, 2017 12:00am
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