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Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-13
Deutsche Post confirms targets despite Q1 profit drop

Deutsche Post confirms targets despite Q1 profit drop

German logistics group Deutsche Post said Thursday it was confident of meeting its objectives for the year, insisting that business was strong in the first quarter, even if its bottom line fell. Deutsche Post said in a statement that net profit slipped by
Published 13 May, 2017 12:00am
Philippine keeps rates on hold as inflation not a threat

Philippine keeps rates on hold as inflation not a threat

The Philippine central bank left policy rates unchanged on Thursday in a widely expected move, saying inflation posed little threat even as the economy is set to sustain its strong growth momentum. The Bangko Sentral ng Pilipinas (BSP) kept its benchmark
Published 13 May, 2017 12:00am
BMW makes veiled jobs warning, urges Brexit pragmatism

BMW makes veiled jobs warning, urges Brexit pragmatism

German high-end carmaker BMW issued a veiled warning on Thursday that a bad Brexit deal could see Mini production leave Britain, calling for "pragmatism" from London and Brussels in EU exit talks. "We hope for pragmatism from all parties in the Brexit neg
Published 13 May, 2017 12:00am
German economic growth picks up speed
Exchange

German economic growth picks up speed

The German economy defied increased political risks and picked up speed in the first quarter of 2017 as companies invested more, consumers and the state continued to spend and exports soared despite the threat of rising protectionism. Europe's biggest eco
Published 13 May, 2017 12:00am
Wells Fargo announces $2 billion in additional cost cuts

Wells Fargo announces $2 billion in additional cost cuts

Tarnished banking giant Wells Fargo said Thursday it will cut an additional $2 billion in costs each year as it aims to restore its reputation following a fake bank accounts scandal. The leader in mortgage lending said it will slash another $2 billion ann
Published 13 May, 2017 12:00am
IMF tells eurozone to cut Greece some slack

IMF tells eurozone to cut Greece some slack

IMF chief Christine Lagarde on Friday urged eurozone lenders to cut Greece some slack on its debts, as hopes rose that a deal on easing repayments could be wrapped up later this month. The International Monetary Fund has made more generous debt relief a c
Published 13 May, 2017 12:00am
US retail sales rise broadly; consumer prices rebound

US retail sales rise broadly; consumer prices rebound

US retail sales increased broadly in April while consumer prices rebounded, pointing to a pickup in economic growth and a gradual rise in inflation that could keep the Federal Reserve on track to raise interest rates next month. The reports on Friday adde
Published 13 May, 2017 12:00am
China central bank shuffles market funding, injects medium term cash

China central bank shuffles market funding, injects medium term cash

China's central bank injected fresh funds through a medium-term lending facility on Friday while keeping a tight rein on short-term funding in what appeared to be a further effort to dampen speculative investment while keeping the economy adequately funde
Published 13 May, 2017 12:00am
More UK cars bought on credit

More UK cars bought on credit

The proportion of cars being bought in Britain on credit is rising, according to data released on Friday, as a regulator begins a review into how finance plans are sold due to fears of irresponsible lending. In the 12 months to March, 86.5 percent of new
Published 13 May, 2017 12:00am
US complains to China about North Korea's attendance at Silk Road summit

US complains to China about North Korea's attendance at Silk Road summit

The United States warned China on Friday that North Korea's attendance at a weekend summit on China's new Silk Road could affect the participation of other countries, casting a shadow over what is Beijing's biggest diplomatic event of 2017. Two sources wi
Published 13 May, 2017 12:00am
Nepal signs up to China's new Silk Road plan

Nepal signs up to China's new Silk Road plan

Nepal on Friday signed up to China's new Silk Road drive, a massive infrastructure project spanning some 65 countries at the centre of the Asian giant's push to expand its global influence. The long discussed deal between impoverished Nepal and its much b
Published 13 May, 2017 12:00am
ArcelorMittal notches up $1 billion profit

ArcelorMittal notches up $1 billion profit

Global steel giant ArcelorMittal said Friday that "positive market momentum" and rising shipments enabled it to swing back into profit in the first quarter of 2017. ArcelorMittal said in a statement that it booked a bottom-line profit of $1.0 billion (920
Published 13 May, 2017 12:00am
ArcelorMittal notches up $1 billion profit

ArcelorMittal notches up $1 billion profit

Global steel giant ArcelorMittal said Friday that "positive market momentum" and rising shipments enabled it to swing back into profit in the first quarter of 2017. ArcelorMittal said in a statement that it booked a bottom-line profit of $1.0 billion (920
Published 13 May, 2017 12:00am
China, US seal trade deal as ties warm
Exchange

China, US seal trade deal as ties warm

Beijing and Washington announced Friday an agreement giving US beef, natural gas and certain financial services access to China's massive market in a deal highlighting the warm ties nurtured by their presidents. The US in exchange will allow cooked Chines
Published 13 May, 2017 12:00am
Indian shares down

Indian shares down

Indian shares ended lower on Friday, after jumping to record highs twice this week, as investors turned cautious ahead of inflation data and booked profits in recent outperformers. The broader NSE index closed down 0.23 percent at 9,400.90, but was up 1.2
Published 13 May, 2017 12:00am
Tokyo stocks lower

Tokyo stocks lower

Tokyo stocks finished lower Friday, hit by a strong yen and profit taking, with traders awaiting earnings from a string of companies including auto maker Suzuki and cosmetics firm Shiseido. The Nikkei 225 index has come within spitting distance of the 20,
Published 13 May, 2017 12:00am
Friday's early trade: stocks slip as bank, industrial sectors drag

Friday's early trade: stocks slip as bank, industrial sectors drag

US stocks edged lower on Friday and were on track to book declines for the week, weighed down by financial and industrial sectors. Wall Street has been trading in a tight range in the past two weeks, with the S&P 500 not moving more than 0.4 percent in ei
Published 13 May, 2017 12:00am
Wall Street slides as investors fret about retail
Exchange

Wall Street slides as investors fret about retail

US stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Macy's dismal quarterly perfor
Published 13 May, 2017 12:00am
Australian, New Zealand shares slip

Australian, New Zealand shares slip

Australian shares ended the week lower on Friday, hurt by declines in the financial sector, while strength in the materials sector driven by overnight gains in gold and copper prices helped curtail some of the losses. The S&P/ASX 200 index closed 0.7 perc
Published 13 May, 2017 12:00am
US bond yields little changed

US bond yields little changed

US Treasury yields were little changed for a second day on Thursday after hitting their highest levels since March as losses in Wall Street stocks offset an April jump in producer prices and a poorly received 30-year bond auction. The drop in US share pri
Published 13 May, 2017 12:00am
US bond yields little changed

US bond yields little changed

US Treasury yields were little changed for a second day on Thursday after hitting their highest levels since March as losses in Wall Street stocks offset an April jump in producer prices and a poorly received 30-year bond auction. The drop in US share pri
Published 13 May, 2017 12:00am
Taiwan stocks retreat

Taiwan stocks retreat

Taiwan stocks crossed the key 10,000 level for a third time this week before reversing course to trade marginally lower, with the semiconductor sector leading the decline. The main TAIEX index was down 0.13 percent at 9,988.41 as of 0308 GMT on Friday, af
Published 13 May, 2017 12:00am
Sri Lankan shares near one-year high

Sri Lankan shares near one-year high

Sri Lankan shares ended marginally higher on Friday, near a one-year high, led by gains in blue chips such as Ceylon Tobacco Company Plc and conglomerate John Keells Holdings Plc. Stockbrokers said they expect the bullish trend to continue next week with
Published 13 May, 2017 12:00am
Shanghai stocks down for fifth week

Shanghai stocks down for fifth week

Shanghai stocks bounced on Friday, but still posted a fifth straight week of losses amid lingering worries over economic growth and regulatory measures aimed at curbing risky lending and speculation. The blue-chip CSI300 index rose 0.9 percent, to 3,385.3
Published 13 May, 2017 12:00am
Dealmaking supports European shares but Richemont profit miss weighs

Dealmaking supports European shares but Richemont profit miss weighs

European shares inched up on Friday, underpinned by gains among drugmakers and some fresh dealmaking activity, while luxury group Richemont fell on a disappointing earnings update. Cartier owner Richemont fell 5.6 percent, leading losers in Europe after s
Published 13 May, 2017 12:00am
Hong Kong stocks have best week in two months

Hong Kong stocks have best week in two months

Hong Kong stocks hovered near 21-month highs on Friday, and posted their biggest weekly gain in two months, helped by continuous inflows from mainland China. The Hang Seng index on Friday rose 0.1 percent, to 25,156.34, while the China Enterprises Index g
Published 13 May, 2017 12:00am
Southeast Asian stocks flat to lower

Southeast Asian stocks flat to lower

Most Southeast Asian stock markets were flat to lower on Friday, tracking broader Asian and Wall Street peers, while Thailand posted its fifth straight session of losses. Asian stocks slipped, tracking overnight losses on Wall Street triggered by a sellof
Published 13 May, 2017 12:00am
Record close for Britain's FTSE as AstraZeneca soars

Record close for Britain's FTSE as AstraZeneca soars

Britain's top share index set a record close on Friday, sealing its strongest week since December as pharmaceutical stock AstraZeneca rose on a positive drug trial and broker upgrades buoyed individual firms. The blue chip FTSE 100 index finished the week
Published 13 May, 2017 12:00am
Dollar eases against yen in Asia

Dollar eases against yen in Asia

The dollar traded below an eight-week high against the yen on Friday, with the near-term focus on whether coming US economic data would provide the catalyst for further gains in the greenback. The dollar eased 0.1 percent to 113.70 yen, having retreated f
Published 13 May, 2017 12:00am
Dollar heads for strongest week this year in Europe

Dollar heads for strongest week this year in Europe

The dollar traded near a three-week high on Friday, on track for its strongest week this year, after strong data bolstered expectations that the Federal Reserve will raise interest rates again in June. A rally to 14-year highs for the dollar, inspired by
Published 13 May, 2017 12:00am
Early trade in NY: Dollar slips after weaker-than-expected US inflation

Early trade in NY: Dollar slips after weaker-than-expected US inflation

The US dollar fell on Friday, easing from a roughly two-month high against the yen touched in the prior session and slumping against the euro, after weaker-than-expected US economic data raised doubts about whether the Federal Reserve will assume a hawkis
Published 13 May, 2017 12:00am
Dollar weakens against yen in New York

Dollar weakens against yen in New York

The dollar fell for the first time in five days against the yen on Thursday, as investors consolidated recent gains, with concerns related to the fallout of US President Donald Trump's unexpected dismissal of Federal Bureau of Investigation chief James Co
Published 13 May, 2017 12:00am
Yuan rises

Yuan rises

China's yuan firmed against the US dollar on Friday after the central bank fixed a stronger midpoint, while easing liquidity pressure in the money market had minimal impact, traders said. China's central bank injected fresh funds through a medium-term len
Published 13 May, 2017 12:00am
Asian currencies recover on dollar profit-taking

Asian currencies recover on dollar profit-taking

Most of the Asian currencies edged up on Friday, trimming their losses on the week, as traders took profits in the dollar. The dollar index, up nearly 1 percent for the week, was set for its first weekly rise in five. It was down 0.1 percent on the day.
Published 13 May, 2017 12:00am
Sri Lankan rupee up

Sri Lankan rupee up

The Sri Lankan rupee ended slightly firmer in dull trade on Friday due to mild dollar selling by exporters. Rupee forwards were active, with the spot-next ending at 152.55/65 per dollar, compared with Tuesday's close of 152.65/75. Two-week forwards closed
Published 13 May, 2017 12:00am
Sterling set for first weekly loss in four

Sterling set for first weekly loss in four

Sterling was set for its first weekly loss in four against the dollar on Friday after the Bank of England showed no sign of leaning more towards raising interest rates before the start of Brexit negotiations. Thursday's BoE rates decision quashed some bet
Published 13 May, 2017 12:00am
Aussie, kiwi on track for weekly losses

Aussie, kiwi on track for weekly losses

The Australian dollar regained some ground on Friday, while the New Zealand dollar sagged near an 11-month trough, with both currencies on track for weekly losses. The Australian dollar edged up to $0.7380, but was still within reach of a four-month troug
Published 13 May, 2017 12:00am
Hamilton, Mercedes back on top in Spain

Hamilton, Mercedes back on top in Spain

Lewis Hamilton stayed on top as Mercedes set the pace again in Friday afternoon's second free practice for this weekend's Spanish Grand Prix. The three-time world champion proved again that he has bounced back from the puzzling loss of form that left him
Published 13 May, 2017 12:00am
Relentless Nadal sets up Djokovic semi-final

Relentless Nadal sets up Djokovic semi-final

Rafael Nadal will aim to keep his unbeaten start to the clay season going when he meets Novak Djokovic for a 50th time in the Madrid Masters semi-finals on Saturday. Nadal is now 13-0 on clay this year as he swept aside Belgian ninth seed David Goffin 7-6
Published 13 May, 2017 12:00am
Indian police arrest three over IPL betting racket

Indian police arrest three over IPL betting racket

Indian police have arrested three men suspected of illegal betting on lucrative Indian Premier League matches, the cricket board said. The trio were arrested Thursday at a hotel where the Gujarat Lions and Delhi Daredevils teams were staying after their m
Published 13 May, 2017 12:00am
Rain thwarts Tamim's hundred bid against Ireland

Rain thwarts Tamim's hundred bid against Ireland

The first match of the tri-series in Dublin between Ireland and Bangladesh was abandoned after just 31.1 overs because of rain, cutting short a fine innings by Tamim Iqbal. The Tigers were 157 for four against hosts Ireland when the players were forced of
Published 13 May, 2017 12:00am
Two Swedes jailed for fraud linked to Hulk transfer

Two Swedes jailed for fraud linked to Hulk transfer

A court in Sweden sentenced two Swedes to prison on Friday for defrauding Chinese football club Shanghai SIPG of 370,000 euros ($403,000) during the transfer of Brazilian star Hulk. Hussein Barjawi, 33, was sentenced to three years in prison. After the em
Published 13 May, 2017 12:00am
Manchester United, Ajax squeeze into Europa League final

Manchester United, Ajax squeeze into Europa League final

Manchester United survived a sizeable scare to reach their first Europa League final after a nervy 1-1 draw with Celta Vigo on Thursday completed a 2-1 aggregate victory. Jose Mourinho's side will play a youthful Ajax team in the final at Stockholm's Frie
Published 13 May, 2017 12:00am
Pique plans for tennis World Cup backed by top players

Pique plans for tennis World Cup backed by top players

Barcelona defender Gerard Pique's plans as part of a consortium for a new World Cup of tennis event have been backed by leading players such as Andy Murray, Novak Djokovic and Rafael Nadal. Pique was in the Spanish capital on Monday and Tuesday this week
Published 13 May, 2017 12:00am
ACT holds preliminary hearing over Nasir Jamshed

ACT holds preliminary hearing over Nasir Jamshed

The Anti-Corruption Tribunal (ACT) held its preliminary hearing in corruption case involving cricketer Nasir Jamshed, here at the National Cricket Academy on Friday. The tribunal was comprised former justice Asghar Haider (Chairman) and Lieutenant General
Published 13 May, 2017 12:00am
Ahmed Shehzad back home from West Indies

Ahmed Shehzad back home from West Indies

On the request forwarded by the team management, Pakistan Cricket Board (PCB) has allowed cricketer Ahmed Shehzad, to return home from West Indies tour. Ahmed Shehzad had made a request to the team management to return home from the ongoing tour after his
Published 13 May, 2017 12:00am
Yasir Shah restricts West Indies to 97-3 at lunch

Yasir Shah restricts West Indies to 97-3 at lunch

Pakistan leg-spinner Yasir Shah took all three wickets to restrict the West Indies to 97 for three in reply to the tourists' first innings total of 376 at lunch at Windsor Park in Dominica on Friday. On a pitch offering little encouragement for the faster
Published 13 May, 2017 12:00am
Malaysia deports Turks wanted over alleged Gulen links

Malaysia deports Turks wanted over alleged Gulen links

Malaysia has deported three Turkish nationals wanted by Ankara for alleged links to a US-based preacher accused of being behind a failed coup against President Recep Tayyip Erdogan. National police chief Khalid Abu Bakar tweeted that the men were "deporte
Published 13 May, 2017 12:00am
Turkey detains 57 in operation against Istanbul stock exchange
Exchange

Turkey detains 57 in operation against Istanbul stock exchange

Turkey on Friday detained 57 people in an operation against the Istanbul stock exchange as part of the investigation into the failed July 15 coup, state media said. The 57 were detained in six different provinces, with over 100 arrest warrants issued, the
Published 13 May, 2017 12:00am
Sotheby's holds debut African modern art sale

Sotheby's holds debut African modern art sale

Sotheby's, one of the world's oldest auction houses, is holding its first ever sale of modern and contemporary African art in London in response to a surge in demand. African artists currently account for just 0.01 percent of the international art market
Published 13 May, 2017 12:00am
Venezuela fires health chief in deadly crisis

Venezuela fires health chief in deadly crisis

Venezuela's President Nicolas Maduro fired his health minister after statistics showed infant deaths surging, as elderly protesters angry over medicine shortages planned fresh rallies Friday demanding the socialist leader quit. The health ministry on Wedn
Published 13 May, 2017 12:00am
'Awesomesauce,' proclaims US astronaut on historic spacewalk

'Awesomesauce,' proclaims US astronaut on historic spacewalk

So what is it like to float out into the vacuum of space? "Ginormous fondue pot, bubbling over with piping hot awesomesauce," said American astronaut Jack Fischer, as he embarked on his first-ever spacewalk outside the International Space Station on Frida
Published 13 May, 2017 12:00am
Sudan's first PM since 1989 coup names new cabinet

Sudan's first PM since 1989 coup names new cabinet

Sudan's first prime minister since 1989 has named a new government and vowed to resolve insurgencies in border regions and heal the country's crisis-wracked economy. The new cabinet was unveiled late Thursday by Bakri Hassan Saleh, appointed in March as S
Published 13 May, 2017 12:00am
Brexit minister lashes out at Juncker for 'meddling'

Brexit minister lashes out at Juncker for 'meddling'

Britain's Brexit minister David Davis on Friday said European Commission president Jean-Claude Juncker had tried to meddle in British politics but "learned his lesson" from the government's tough reaction. "I think to be honest he has now learned his less
Published 13 May, 2017 12:00am
Ebola outbreak declared in northeast DR Congo

Ebola outbreak declared in northeast DR Congo

An Ebola outbreak has been declared in northeast Democratic Republic of Congo, the World Health Organization said Friday, after the virus caused three deaths in the area since April 22. The WHO said the outbreak affects an equatorial forest region in Bas-
Published 13 May, 2017 12:00am
History lesson: South Korea's Moon scraps state textbooks

History lesson: South Korea's Moon scraps state textbooks

South Korea's new President Moon Jae-In on Friday scrapped state-issued school history textbooks introduced by his ousted predecessor, saying they represented an "outdated and one-sided" view of the past, his office said. The previous Park Geun-Hye admini
Published 13 May, 2017 12:00am
US-backed forces prepare for final push on IS-held Raqa

US-backed forces prepare for final push on IS-held Raqa

US-backed fighters said Friday they were preparing for a final assault on the Islamic State group's Syrian bastion Raqa, likely next month, with new weapons and armoured vehicles promised by Washington. The Syrian Democratic Forces (SDF) earlier this week
Published 13 May, 2017 12:00am
India calls for deeper ties with Sri Lanka as China looms

India calls for deeper ties with Sri Lanka as China looms

Indian Prime Minister Narendra Modi declared Friday his desire for a "quantum jump" in relations with Sri Lanka, as New Delhi jostles with regional rival Beijing for influence in the island nation. India had always considered its smaller neighbour to be w
Published 13 May, 2017 12:00am
Palestinian shot dead

Palestinian shot dead

A Palestinian youth was shot dead during clashes with Israeli forces in the occupied West Bank on Friday, the Palestinian health ministry said. The man was shot during the protests which are held weekly near the village of Nabi Saleh, north of Ramallah, a
Published 13 May, 2017 12:00am
Britain blocking EU military HQ

Britain blocking EU military HQ

Brexit-bound Britain is blocking the launch of an EU military headquarters because it opposes any suggestion that the unit would have an active operational role, EU diplomatic sources said Friday. After months of tough negotiations, all 28 member states a
Published 13 May, 2017 12:00am
Fata EOC, UNICEF hold workshop on 'Reporting Polio'

Fata EOC, UNICEF hold workshop on 'Reporting Polio'

Emergency Operations Centre (EOC) FATA Secretariat, in collaboration with UNICEF, organized a day-long training workshop on "Reporting Polio" for health reporters from various media outlets belonging to Peshawar region, in Abbottabad. The purpose of the w
Published 13 May, 2017 12:00am
SECP holds workshop on principles of corporate governance
Exchange

SECP holds workshop on principles of corporate governance

The Securities and Exchange Commission of Pakistan (SECP) in collaboration with International Finance Corporation (IFC) and Centre for International Private Enterprise (CIPE) organized a workshop in Islamabad to create awareness about its recently introdu
Published 13 May, 2017 12:00am
Managed connectivity services: PTCL, HBL sign partnership

Managed connectivity services: PTCL, HBL sign partnership

PTCL, the largest telecommunication service provider in the region has inked the a comprehensive Managed Services Network Agreement with HBL, the largest private sector Bank in Pakistan, for connectivity of Branches & ATMs network across Pakistan for a te
Published 13 May, 2017 12:00am
Role of non-executive director akin to whistle-blower: SECP
Exchange

Role of non-executive director akin to whistle-blower: SECP

An appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has observed that the role of a non-executive director of a company is akin to a whistle-blower and company's management is accountable before the shareholders during the annu
Published 13 May, 2017 12:00am
Traffic police fail to check violation of rules

Traffic police fail to check violation of rules

Traffic police has miserably failed to control one-way violation by drivers of motorcycles, cars, rickshaws and other vehicles that goes unabated causing massive traffic jam and accidents in the city. Drivers of cars, rickshaws, motorcycles etc., have mad
Published 13 May, 2017 12:00am
Toyota to increase investment in Pakistan
Exchange

Toyota to increase investment in Pakistan

"Toyota Boshoku is willing to increase investment in Pakistan for manufacturing world class interior components," said Dr Shuhei Toyoda, Chairman Toyota Boshoku Corporation, during his visit to Thal Boshoku Pakistan. Dr Shuhei Toyoda visited Thal Boshoku
Published 13 May, 2017 12:00am
FBR will continue to impose RD on imported items
Cotton

FBR will continue to impose RD on imported items

The Federal Board of Revenue (FBR) will continue with the policy of imposing regulatory duty (RD) on imported items in the upcoming budget (2017-18) under revenue generation measures. Sources told Business Recorder here on Friday that it has been principa
Published 13 May, 2017 12:00am
Budget 2017-18: FBR mulling policy issues on tobacco taxation

Budget 2017-18: FBR mulling policy issues on tobacco taxation

The Federal Board of Revenue (FBR) is considering policy issues on tobacco taxation whether merely a raise in Federal Excise Duty (FED) rate on cigarettes in budget (2017-18) would increase revenue from documented sector and decrease illicit trade of non-
Published 13 May, 2017 12:00am
Money changer looted

Money changer looted

Dacoits deprived citizens of their valuables worth millions of rupees in two different robbery bids in the provincial metropolis on Friday. In the first incident, two unidentified robbers, riding a motorbike, looted a money changer, Muhammad Amir, near Sh
Published 13 May, 2017 12:00am
PML-N, PTI activists join PML-Q

PML-N, PTI activists join PML-Q

A delegation of N-League and PTI activists comprising nazims, union councils chairmen and vice-chairmen from Faisalabad called on Pakistan Muslim League-Q (PML-Q) senior leader Chaudhry Parvez Elahi at his residence here on Friday and announced to join th
Published 13 May, 2017 12:00am
Consultative workshop on climate change held

Consultative workshop on climate change held

A consultative workshop was held here at the Government College University Lahore on Friday in collaboration with Ministry of Climate Change, United Nations Environment Programme (UNEF) and the university's Environment Protection Society (EPS) to devise s
Published 13 May, 2017 12:00am
Number of filers jumps to 1.4 million, says FBR chief

Number of filers jumps to 1.4 million, says FBR chief

Federal Board of Revenue (FBR) Chairman Dr Muhammad Irshad has said the number of filers has been gradually increasing since this government came into power. The number of filers jumped from 0.7 million in 2013 to 1.4 million during the current fiscal yea
Published 13 May, 2017 12:00am
Two medics of Jinnah hospital suspended

Two medics of Jinnah hospital suspended

Secretary Specialized Healthcare & Medical Education Najam Ahmed Shah paid a surprise visit to Jinnah Hospital Lahore on Friday and upon absence of Senior Woman Medical Officer Dr Yasmin Cheema and WMO Dr Saira Nawaz, suspended both of them.
Published 13 May, 2017 12:00am
LHC orders governments to appoint Punjab IGP within one month

LHC orders governments to appoint Punjab IGP within one month

The Lahore High Court Chief Justice on Friday directed the federal and Punjab governments to appoint a permanent Inspector General of Police in the province within one month. Chief Justice Syed Mansoor Ali Shah further directed the governments to form pro
Published 13 May, 2017 12:00am
Ittefaq Iron Industries' IPO receives overwhelming response

Ittefaq Iron Industries' IPO receives overwhelming response

The Initial Public Offering (IPO) of Ittefaq Iron Industries Limited received an overwhelming response from Institutional and High Net Worth Individual Investors during the book building held yesterday. The Company offered 31,312,500 shares at a Floor Pri
Published 13 May, 2017 12:00am
Punjab to recruit 80,000 teachers this year: minister

Punjab to recruit 80,000 teachers this year: minister

Punjab School Education Minister Rana Mashhood Ahmad Khan has said that as much as eighty thousand educators would be recruited this year. Similarly, the number of primary teaching posts has been increased from two to four in every government school. Mean
Published 13 May, 2017 12:00am
ETPB's ex-vice chairman held in Rs 1870 million fraud case

ETPB's ex-vice chairman held in Rs 1870 million fraud case

National Accountability Bureau (NAB) Lahore has arrested Chaudhry Muhammad Ali, ex vice-chairman, Evacuee Trust Property Board (ETPB) for charges of being part of financial embezzlement worth Rs 1870 million through MS High Links (Pvt) Ltd. The accused Mu
Published 13 May, 2017 12:00am
DQCB to refer 23 cases of quacks for trial

DQCB to refer 23 cases of quacks for trial

District Quality Control Board (DQCB) has decided to refer 23 cases against the medical stores/clinics of quacks to the Drug Court for trial involved in different violations of Drug Control Act. This decision was made by the Board during its meeting held
Published 13 May, 2017 12:00am
Punjab government announces reward for cotton growers
Cotton

Punjab government announces reward for cotton growers

The Punjab government has announced to reward those cotton growers who would excel in quality and production of the crop during the current season. This is first time in the history of the country that such a competition has been arranged for cotton growe
Published 13 May, 2017 12:00am
Punjab proposes Rs 650 billion ADP for fiscal 2017-18

Punjab proposes Rs 650 billion ADP for fiscal 2017-18

The Punjab government has prepared a Rs 650 billion Annual Development Programme for FY 2017-18 for the first time with no bulk grant / block allocation to avoid any supplementaries during the course of financial year. The next year's ADP is likely to be
Published 13 May, 2017 12:00am
Karandaaz signs three agreements to improve remittance solutions

Karandaaz signs three agreements to improve remittance solutions

The country's leading promoter of financial inclusion, Karandaaz Pakistan has signed agreements worth Rs 148 million with three prominent players in the international remittance market under the DFID-funded Innovation Challenge Fund. Karandaaz Pakistan la
Published 13 May, 2017 12:00am
DIB eyes Pakistan as a key growth market in 2017

DIB eyes Pakistan as a key growth market in 2017

A high powered delegation which included Dubai Islamic Bank's Group Chief Executive Officer Dr Adnan Chilwan, Board members and senior management held key meetings with the bank's local management to ascertain the current status and future plans.
Published 13 May, 2017 12:00am
Goods transporters strike enters fourth day

Goods transporters strike enters fourth day

Goods transporters continued their strike on the fourth consecutive day on Friday due to which seaborne trade of Pakistan also remained suspended. The protesting transporters denounced the federal and provincial governments for not holding talks with them
Published 13 May, 2017 12:00am
There is only one judge for 0.3 million people in Pakistan: Usmani

There is only one judge for 0.3 million people in Pakistan: Usmani

The scarcity of judges and buildings for courts is the main hindrance in providing speedy justice in the country. The ratio of judges is very low, for 300,000 people there is only one judge in Pakistan while in developed countries the ratio is one judge f
Published 13 May, 2017 12:00am
Jazz celebrates first-ever 'Customer-Obsessed Day'

Jazz celebrates first-ever 'Customer-Obsessed Day'

Jazz, Pakistan number 1 digital company, kick-started its customer-centric agenda by taking to the streets to celebrate its first customer-obsessed day (COD). Over 3000 Jazz employees including the company's leadership team left their offices and met cust
Published 13 May, 2017 12:00am
Customs seize Iranian smuggled diesel

Customs seize Iranian smuggled diesel

Anti Smuggling Organisation (ASO) of Model Collectorate of Customs (MCC), preventive claimed on Friday to have thwarted an attempt to bring huge quantity of Iranian smuggled diesel into the country via sea route. According to customs officials, the action
Published 13 May, 2017 12:00am
Misuse of amenity areas: NAB asks SBCA to submit report in a week

Misuse of amenity areas: NAB asks SBCA to submit report in a week

National Accountability Bureau (NAB), Karachi has given a week deadline to the Sindh Building Control Authority (SBCA) to submit a report over the misuse of amenity areas in residential edifices. According to NAB officials, Agha Maqsood Abbas, DG SBCA and
Published 13 May, 2017 12:00am
Hinopak Motors posts Rs 1.119 billion PAT

Hinopak Motors posts Rs 1.119 billion PAT

Hinopak Motors has posted Rs 1.119 billion as profit after tax in the year ended March 31, 2017 as compared to Rs 1.113 billion earned in the corresponding period in 2016. The company's earning per share increased to Rs 90.31 in the period under review ag
Published 13 May, 2017 12:00am
Hinopak Motors posts Rs 1.119 billion PAT

Hinopak Motors posts Rs 1.119 billion PAT

Hinopak Motors has posted Rs 1.119 billion as profit after tax in the year ended March 31, 2017 as compared to Rs 1.113 billion earned in the corresponding period in 2016. The company's earning per share increased to Rs 90.31 in the period under review ag
Published 13 May, 2017 12:00am
PAF Air Eagle's aircraft refurbished by PIA

PAF Air Eagle's aircraft refurbished by PIA

The interior and exterior of Y-12 aircraft of Air Eagle, a project of Pakistan Air Force, has been refurbished by the engineering and maintenance division of Pakistan International Airlines (PIA) According to details, the refurbishment of the aircraft's c
Published 13 May, 2017 12:00am
TRG launches new IT centre in Karachi

TRG launches new IT centre in Karachi

The Resource Group (TRG) opens state-of-the-art IT facility, a new 16-story tower located at main Shahrah-e-Faisal, in an opening ceremony held on Friday. US Ambassador to Pakistan, David Hale inaugurated the facility along with Grace Shelton, the US Cons
Published 13 May, 2017 12:00am
May 12, 2007 carnage: Sindh PA wants culprits to be brought to justice

May 12, 2007 carnage: Sindh PA wants culprits to be brought to justice

Sindh Assembly on Friday adopted a resolution to condemn the massacre of 50 innocent citizens on May 12, 2007, amid demands from the PML-F and PTI's legislators for bringing perpetrators of that bloodshed to justice. Senior Parliamentary Affairs Minister,
Published 13 May, 2017 12:00am
'Heels' opens its store at LuckyOne Mall

'Heels' opens its store at LuckyOne Mall

After successfully creating a name in Punjab and Khyber Pakhtoonkhwa, 'Heels', a prestigious ladies footwear brand, is now opening a flagship showroom at the prestigious and recently launched LuckyOne Mall, Karachi. Heels is more than just another name in
Published 13 May, 2017 12:00am
Oracle showcases HR solutions for organisations in Pakistan

Oracle showcases HR solutions for organisations in Pakistan

Leading HR professionals gained critical insight into how to leverage technology to improve overall employee engagement and performance during an event 'Modern HR for Modern Business,' organized by Oracle. The impact of the millennial workforce, not just
Published 13 May, 2017 12:00am
SBEP schools' groundbreaking ceremony held

SBEP schools' groundbreaking ceremony held

Along with Sindh Education Minister Jam Mahtab Hussain Dahar and Secretary of Education Abdul Aziz Uqaili, US Consul General Grace Shelton and USAID Deputy Mission Director Denise Herbol on Friday broke ground for school construction in Karachi. Local gov
Published 13 May, 2017 12:00am
Legislators walkout of Senate over Nisar's absence

Legislators walkout of Senate over Nisar's absence

Declaring the settlement of Dawn Leaks controversy a wheeling-dealing on the issue of national security, lawmakers in Senate on Friday staged a walkout against the absence of Interior Minister Chaudhary Nisar Ali Khan who did not turn to take the House in
Published 13 May, 2017 12:00am
PDMA hands over Sonar to Rescue 1122

PDMA hands over Sonar to Rescue 1122

The Punjab Minister for Disaster Management Maher Ijaz Achlana handed over Sonar to Director General, Punjab Emergency Service (Rescue 1122) Dr Rizwan Naseer. The minister said on the occasion that Sonar is a technique that uses sound propagation to navig
Published 13 May, 2017 12:00am
PPDWP approves two road projects costing Rs 2079 million

PPDWP approves two road projects costing Rs 2079 million

The Punjab Provincial Development Working Party approved two development schemes of road sector with an estimated cost of Rs 2079.346 million in its 71st meeting of current fiscal year 2016-17 on Friday. Provincial Secretary P&D Iftikhar Ali Sahoo, all me
Published 13 May, 2017 12:00am
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