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Print - 2017-03-29
BankIslami extends strategic alliance with Honda Atlas Cars

BankIslami extends strategic alliance with Honda Atlas Cars

BankIslami Pakistan Limited and Honda Atlas Cars (Pakistan) Limited have extended their agreement for the year 2017. With the successful completion of one year of Alliance, both BankIslami and Honda Atlas Cars (Pakistan) Limited have re-pledged to mutuall
Published 29 Mar, 2017 12:00am
CBOT corn futures end flat

CBOT corn futures end flat

Chicago Board of Trade corn futures ended about unchanged on Monday as investors took profits on short position after prices earlier fell to the lowest levels since December 30, traders said. Strong export demand for US supplies also underpinned prices wh
Published 29 Mar, 2017 12:00am
1,457 schools owe Rs 202 million to KE

1,457 schools owe Rs 202 million to KE

K-Electric has issued a letter to the Director Schools and Education regarding non-payment of more than Rs 202 million outstanding dues against 1,457 government schools. KE officials said that despite several notices, dues have not been cleared altogether
Published 29 Mar, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Monday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 2,998. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 5.09 billion and the number of lots traded was 10,429. Major business was contributed by cur
Published 29 Mar, 2017 12:00am
1,457 schools owe Rs 202 million to KE

1,457 schools owe Rs 202 million to KE

K-Electric has issued a letter to the Director Schools and Education regarding non-payment of more than Rs 202 million outstanding dues against 1,457 government schools. KE officials said that despite several notices, dues have not been cleared altogether
Published 29 Mar, 2017 12:00am
CBOT soyabeans fall to lowest levels

CBOT soyabeans fall to lowest levels

Chicago Board of Trade soyabeans fell to the lowest levels in more than five months on Monday, pressured by a bumper South American harvest and expectations that US farmers will boost plantings of the oilseed, traders said.
Published 29 Mar, 2017 12:00am
Audit of banks: FBR to implement uniform WHT system

Audit of banks: FBR to implement uniform WHT system

The Federal Board of Revenue (FBR) will implement a uniform system of withholding tax audit of banks to streamline withholding tax collection from banking sector on real time basis. Sources told Business Recorder here on Tuesday that the initiative
Published 29 Mar, 2017 12:00am
Palm oil down on European vegoils market

Palm oil down on European vegoils market

Palm oil on the European vegetable oils market eased on Monday, slipping on the back of lower Malaysian palm oil futures and weaker soyaoil prices. Asking prices for palm oil were between unchanged and $5 a tonne lower, with a stronger ringgit limiting lo
Published 29 Mar, 2017 12:00am
PPP convenes CEC meeting on April 4

PPP convenes CEC meeting on April 4

Pakistan Peoples' Party has convened central executive committee (CEC) meeting in Naudero. The meeting will be held on April 4 and would be attended by all members of the CEC. The meeting would discuss in detail the prevailing political situation and upco
Published 29 Mar, 2017 12:00am
Five Afghans among eight suspects held

Five Afghans among eight suspects held

Islamabad Bhara Kau police on Tuesday conducted search operation in its respective jurisdiction and recovered huge cache of weapons from suspects, a police spokesman said. Following National Action Plan, officers / officials of Islamabad Police, Pak Range
Published 29 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 29 Mar, 2017 12:00am
ST on wheat barn baffles over 1,000 flour mills

ST on wheat barn baffles over 1,000 flour mills

The Federal Board of Revenue's (FBR) field formation has created confusion among over 1,000 flour mills by charging sales tax on wheat bran (a by-product of flour mills industry) under operative SRO 837(I)/2015, which requires a sales tax clarification to
Published 29 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 29 Mar, 2017 12:00am
ST on wheat barn baffles over 1,000 flour mills

ST on wheat barn baffles over 1,000 flour mills

The Federal Board of Revenue's (FBR) field formation has created confusion among over 1,000 flour mills by charging sales tax on wheat bran (a by-product of flour mills industry) under operative SRO 837(I)/2015, which requires a sales tax clarification to
Published 29 Mar, 2017 12:00am
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 29 Mar, 2017 12:00am
APNS General Council meeting tomorrow

APNS General Council meeting tomorrow

The Annual General Council of All Pakistan Newspapers Society (APNS) will meet on Thursday, March 30, 2017 at 10:30 am at APNS House, Karachi," stated a press release of the APNS. Umer Mujib Shami, Secretary General, All Pakistan Newspapers Society, has a
Published 29 Mar, 2017 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 29 Mar, 2017 12:00am
Khushhali Microfinance Bank sign agreement with Temenos & NDC

Khushhali Microfinance Bank sign agreement with Temenos & NDC

Khushhali Microfinance Bank has announced that they have signed an agreement to acquire the leading Core Banking System by Temenos (the software specialist for banking and finance). The system will be implemented by National Data Consultant (NDC) a specia
Published 29 Mar, 2017 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
Bid to smuggle 1kg heroin foiled

Bid to smuggle 1kg heroin foiled

The Airport Security Force (ASF) foiled a bid to smuggle one kilogram heroin abroad and arrested an accused at Karachi Airport on Tuesday. The ASF during search of baggage of a passenger identified as Muhammad Asim leaving for Doha through private airline
Published 29 Mar, 2017 12:00am
Parliamentarian panel seeks record of Pakistan Post's officials

Parliamentarian panel seeks record of Pakistan Post's officials

A parliamentarian panel on Tuesday directed Pakistan Post to present the record of all of the officials, as many officials having fake/bogus documents were reportedly hired/deputed in the department. National Assembly standing committee on Communications
Published 29 Mar, 2017 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
Romania exploring prospects of benefiting from CPEC: envoy

Romania exploring prospects of benefiting from CPEC: envoy

As Romania works to expand its relationship with Pakistan particularly in economic and defence sectors, it is also exploring the prospects of benefiting from the China-Pakistan Economic Corridor (CPEC). Ambassador of Romania to Pakistan Nicolae Goia, whil
Published 29 Mar, 2017 12:00am
Tax collection/deduction: FBR unveils draft of amendments to IT rules

Tax collection/deduction: FBR unveils draft of amendments to IT rules

The Federal Board of Revenue (FBR) has proposed change in the procedure for collection/deduction of tax by a person other than the federal/provincial governments under section 160 and Sixth Schedule of the Income Tax Ordinance 2001. Through SRO 206 (1)/20
Published 29 Mar, 2017 12:00am
NHA approves upgradation of Jaglot-Skardu strategic road

NHA approves upgradation of Jaglot-Skardu strategic road

The Executive Board of the National Highway Authority has approved the project for widening and up-gradation of Jaglot-Skardu strategic road during a meeting held at NHA head office on Tuesday with Chairman Shahid Ashraf Tarar in the chair. The meeting wa
Published 29 Mar, 2017 12:00am
Police high-ups asked to furnish progress report

Police high-ups asked to furnish progress report

The Acting Inspector General of Police (AIGP) Khyber Pakhtunkhwa Syed Akhtar Ali Shah has directed police high-ups to regularly furnish a detailed report of their outcome on quarterly basis to CPO. These directives were given to all Regional Police Office
Published 29 Mar, 2017 12:00am
PSSF to provide safe learning environment at schools: Marriyam

PSSF to provide safe learning environment at schools: Marriyam

The government gives top priority to provide students with a safe and secure learning environment at schools for which introduction of Pakistan School Safety Framework (PSSF) will prove a significant step towards a secure future for students, schools and
Published 29 Mar, 2017 12:00am
US embassy launches entrepreneurship speaker series 2017

US embassy launches entrepreneurship speaker series 2017

The US Embassy launched its 2017 Entrepreneurship Speaker Series with the visit of American entrepreneur Rhett Power, who delivered a presentation at Islamabad Chamber of Commerce and Industry on the theme of "Do's and Don'ts of Starting a Business."
Published 29 Mar, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (March 28, 2017).
Published 29 Mar, 2017 12:00am
BoI defends auto policy

BoI defends auto policy

The Board of Investment (BoI) has refused to sustain the pressure of the existing auto sector industries to amend Auto Policy, 2016. The BOI believes that the new auto policy was formulated to bring new entrants to Pakistan keeping in view the consumers'
Published 29 Mar, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
Afghan refugees' voluntary repatriation from April 3

Afghan refugees' voluntary repatriation from April 3

Voluntary repatriation of Afghan refugees will resume from the April 3. According to a spokesman of the United Nations High Commissioner for Refugees (UNHCR), the process was temporarily suspended in November last year due to winter season. A repatriation
Published 29 Mar, 2017 12:00am
Non-tax paid illicit tobacco seized in Sanghar

Non-tax paid illicit tobacco seized in Sanghar

The Federal Board of Revenue's Intelligence & Investigation - Inland Revenue Tuesday conducted a raid on a godown in district Sanghar and seized huge quantity of illicit/counterfeit and non-tax paid tobacco from the premises. It has been learnt that a tea
Published 29 Mar, 2017 12:00am
Five bodies recovered from River Indus

Five bodies recovered from River Indus

Five dead bodies including two sack-packed were recovered from the bank of River Indus in jurisdiction of Saddar police station. According to details on Tuesday, the locals of Dhoke Khosha and Bagh Neelab informed Saddar Police that five bodies were lying
Published 29 Mar, 2017 12:00am
PSCA to display LEDs at different locations

PSCA to display LEDs at different locations

The Punjab Safe City Authority (PSCA) has decided to display LEDs at different locations of the provincial capital to alert people about traffic congestions and alternative routes. Initially, the authority has planned to display LEDs at around 70 location
Published 29 Mar, 2017 12:00am
NAP being fully implemented in Punjab: LHC told

NAP being fully implemented in Punjab: LHC told

The Lahore High Court has been told that the National Action Plan (NAP) is being fully implemented in Punjab. This was revealed in a report of Interior Ministry in a petition of civil Society Network through its president Abdullah Malik questing flaws in
Published 29 Mar, 2017 12:00am
CM inaugurates e-Rozgaar training programme

CM inaugurates e-Rozgaar training programme

Chief Minister Punjab Muhammad Shahbaz Sharif on Tuesday inaugurated the e-Rozgaar training program at the Irfa Kareem Software Technology Park here Tuesday. Under this program 40 e-Rozgaar centres have been set up at 36 districts where the youngsters wil
Published 29 Mar, 2017 12:00am
Forex reserves show true picture of economy: speakers
Currency

Forex reserves show true picture of economy: speakers

Foreign exchange reserves are an important economic indicator that show the true picture of economy and draw the attention of foreign investors. Situation of FER is far better than the past but still a lot of work has to be done. Efficient mechanism and p
Published 29 Mar, 2017 12:00am
Government urged not to allow direct wheat export

Government urged not to allow direct wheat export

Pakistan Flour Mills Association (PFMA-Punjab) has warned the government not to take any decision on wheat export without taking the flour milling sector on board, which is already facing a crisis like situation and any step of direct wheat export by the
Published 29 Mar, 2017 12:00am
PDWP okays four uplift schemes

PDWP okays four uplift schemes

The Punjab Provincial Development Working Party approved four development schemes of various sectors with an estimated cost of Rs 7395.027 million. These schemes were approved in the 63rd meeting of Provincial Development Working Party (PDWP) of current f
Published 29 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
HVACR expo & conference on March 30

HVACR expo & conference on March 30

The 24th Heating, Ventilation, Air-Conditioning and Refrigeration (HVAC&R) Expo & Conference 2017 is going to be held in the provincial metropolis from March 30, 2017 to April 01, 2017 bringing all the stakeholders on one platform showcasing the latest eq
Published 29 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
Loadshedding to be over by next year, claims minister

Loadshedding to be over by next year, claims minister

Minister of State for Water and Power Abid Sher Ali claimed Tuesday that the electricity load shedding would be over by March 2018, as 4100 megawatt has already been added to the system till date and recoveries have improved by 93 percent, losses reduced
Published 29 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 28, 2017).

Published 29 Mar, 2017 12:00am
Cheap electricity needed to recapture lost markets: FCCI chief

Cheap electricity needed to recapture lost markets: FCCI chief

Engineer Ahmad Hasan, Vice President Faisalabad Chamber of Commerce and Industry (FCCI) while addressing a seminar on energy efficiency and conservation organized by the University of Engineering and Technology (UET) Lahore at FCCI, here on Tuesday has sa
Published 29 Mar, 2017 12:00am
Pakistan State Oil

Pakistan State Oil

Fuelling the nation for the past many years, Pakistan State Oil Company Limited (PSX: PSO) is engaged in procurement, storage and marketing of petroleum and related products. The company also blends and markets various kinds of lubricating oils.
Published 29 Mar, 2017 12:00am
China's yuan falls

China's yuan falls

China's yuan weakened against the US dollar on Tuesday after the greenback clawed back from multi-month lows, while borrowing costs in the interbank market remained elevated as liquidity tightened heading into the end of quarter. The People's Bank of Chin
Published 29 Mar, 2017 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Mar, 2017 12:00am
Scottish lawmakers back independence on eve of Brexit

Scottish lawmakers back independence on eve of Brexit

Scotland's parliament voted Tuesday to back First Minister Nicola Sturgeon's call for a second independence referendum, another headache for Prime Minister Theresa May as she battles to keep the country united just a day before triggering Brexit. The vote
Published 29 Mar, 2017 12:00am
Earnings, deal talk drive European share rebound, DAX stands out

Earnings, deal talk drive European share rebound, DAX stands out

European shares staged a recovery on Tuesday, lifted by strong results and the prospect of deal-making. The STOXX 600 ended up 0.6 percent, with rumours of stake sales moving individual stocks, while criticism of Tesco's take-over of Booker dented the who
Published 29 Mar, 2017 12:00am
Scottish lawmakers back independence on eve of Brexit

Scottish lawmakers back independence on eve of Brexit

Scotland's parliament voted Tuesday to back First Minister Nicola Sturgeon's call for a second independence referendum, another headache for Prime Minister Theresa May as she battles to keep the country united just a day before triggering Brexit. The vote
Published 29 Mar, 2017 12:00am
Australian shares post near two-year high

Australian shares post near two-year high

Australian shares closed at their highest in nearly two years on Tuesday, buoyed by a rally in financials with the recent round of mortgage rate hikes driving bullish sentiment across the banking sector. The S&P/ASX 200 index climbed 1.3 percent, or 74.5
Published 29 Mar, 2017 12:00am
Cotton little changed ahead of crop plantation report
Cotton

Cotton little changed ahead of crop plantation report

ICE cotton futures held nearly flat on Tuesday as market participants remained cautious ahead of a federal acreage report due later this week. The market is likely to stay quiet until the crop plantation report is out, according to Rogers Varner, presiden
Published 29 Mar, 2017 12:00am
Southeast Asian stocks mostly recover

Southeast Asian stocks mostly recover

Most Southeast Asian stock markets ended higher on Tuesday as investors pinned their hopes on US President Donald Trump's stimulus plans after the healthcare policy setback. While Trump's failure late last week to garner enough support for a plan to repea
Published 29 Mar, 2017 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 Mar, 2017 12:00am
Oil jumps on Libyan disruption, OPEC deal extension hopes

Oil jumps on Libyan disruption, OPEC deal extension hopes

Oil prices rose as much as 2 percent on Tuesday after a severe disruption to Libyan oil supplies and as officials suggested OPEC and other producing countries could extend an output cuts deal to the end of the year. Armed factions have blocked production
Published 29 Mar, 2017 12:00am
FTSE climbs back led by miners, banks; Wolseley surges

FTSE climbs back led by miners, banks; Wolseley surges

Britain's top share index climbed back on Tuesday, underpinned by a recovery in miners and banks as well as a surge in Wolseley's shares following strong results. The FTSE 100 ended up 0.7 percent, boosted late in the session by a reversal into positive t
Published 29 Mar, 2017 12:00am
Arabica coffee hovers above three-month low

Arabica coffee hovers above three-month low

Coffee futures on ICE eased on Tuesday, with arabica prices hovering above a three-month trough and robusta easing slightly after the prior session's rally, while sugar and cocoa meandered lower with no new fundamentals to give direction. The soft commodi
Published 29 Mar, 2017 12:00am
Dollar nurses losses in Asian trade
Currency

Dollar nurses losses in Asian trade

The dollar limped off multi-month lows against major peers on Tuesday, with much of the lift from the "Trump trade" now gone. The greenback had taken a beating as market participants saw the prospects for a US fiscal spending boost from President Donald T
Published 29 Mar, 2017 12:00am
Dollar steadies in European trade

Dollar steadies in European trade

The dollar steadied on Tuesday after its worst week since US President Donald Trump's election in November, promises of more rises in Federal Reserve interest rates this year helping it recover from multi-month lows in still shaky global markets. A dip in
Published 29 Mar, 2017 12:00am
Early trade in NY: Dollar steadies above four-month lows
Currency

Early trade in NY: Dollar steadies above four-month lows

The dollar steadied broadly on Tuesday, hovering above 4-month lows, as a general risk-off mood in currency markets offset comments from Federal Reserve officials that suggested the US central bank was poised to continue its rate-hike cycle.
Published 29 Mar, 2017 12:00am
Sri Lankan rupee weakens
Currency

Sri Lankan rupee weakens

The Sri Lankan rupee ended weaker on Tuesday due to dollar demand from a state bank to cover import bills. Rupee forwards were active, with two-week forwards ending at 152.70/80 per dollar, compared with Monday's close of 152.65/75. "There was some sellin
Published 29 Mar, 2017 12:00am
Most emerging Asian currencies lower
Currency

Most emerging Asian currencies lower

Most emerging Asian currencies on Tuesday fell from multi-month highs the previous day as the dollar gained back a bit of strength and traders took profits on regional units. The dollar recovered from a four-month-low as anxiety over Donald Trump's setbac
Published 29 Mar, 2017 12:00am
Canadian dollar little changed

Canadian dollar little changed

The Canadian dollar was little changed on Monday against its US counterpart as lower oil prices offset broadbased losses for the greenback, while investors braced for a speech by Bank of Canada Governor Stephen Poloz. Poloz is likely to be asked about the
Published 29 Mar, 2017 12:00am
Britain's pound steady on eve of Brexit trigger
Currency

Britain's pound steady on eve of Brexit trigger

Currency traders showed little sign of heightened nerves on Tuesday ahead of Britain's formal launch of negotiations on leaving the European Union. British Prime Minister Theresa May will trigger Article 50 of the EU's Lisbon Treaty with a formal notifica
Published 29 Mar, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 79.66-79.67 (previous 79.65-79.65).
Published 29 Mar, 2017 12:00am