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
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
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
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
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
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.
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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."
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'
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
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
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
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
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
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
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
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
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
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
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
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
Chairman of All Pakistan Meat Exporters and Processors Association (APMEPA), Nasib Ahmad Saifi has urged the government to provide the export sector of Halal meat and products a level-playing field to win a prominent place in international market. Nasib A
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.
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
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
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
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
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
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
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
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
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
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
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
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
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.
The dollar fell to its lowest since November against a basket of currencies on Monday as investors lost confidence in prospects for a US fiscal spending boost under President Donald Trump after his failure to pass a major healthcare reform bill.
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
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
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
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