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May 13, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-15
Special funds: Telecom operators demand downward revision

Special funds: Telecom operators demand downward revision

Telecom operators have demanded downward revision of special funds (Universal Service Fund @ 1.5% and Research & Development Fund @ 0.5%) before the upcoming spectrum (3G/4G) auction. Official sources revealed to Business Recorder that telecom licensees h
Published 15 May, 2017 12:00am
Quake kills two, injures hundreds in Iran

Quake kills two, injures hundreds in Iran

A 5.7 magnitude earthquake near Iran's border with Turkmenistan killed two people, injured hundreds and caused widespread damage, state media reported Sunday, citing the country's seismological centre. The quake, which struck at 1800 GMT Saturday in and a
Published 15 May, 2017 12:00am
Quake kills two, injures hundreds in Iran

Quake kills two, injures hundreds in Iran

A 5.7 magnitude earthquake near Iran's border with Turkmenistan killed two people, injured hundreds and caused widespread damage, state media reported Sunday, citing the country's seismological centre. The quake, which struck at 1800 GMT Saturday in and a
Published 15 May, 2017 12:00am
Historic rise in trade deficit
Exchange

Historic rise in trade deficit

Pakistan's trade deficit has reached an historic high of 26.55 billion dollars July-April 2016-17 - a rise of 40.12 percent when compared with the same period of last year. The performance of the two components of the trade balance deteriorated during the
Published 15 May, 2017 12:00am
Dismal state of human rights

Dismal state of human rights

The Human Rights Commission of Pakistan (HRCP) in its recent report on "the State of Human Rights in 2016" holds up a mirror to this society, showing a deeply disturbing image. The report notes a long list of State failures to protect the lives and rights
Published 15 May, 2017 12:00am
The recalcitrant regulators

The recalcitrant regulators

Regulators can be annoying to relevant ministries if they question their recommendations, and federal ministries during the third tenure of the Sharif administration have been visibly angered by the 'recalcitrant' regulators challenging their right to tak
Published 15 May, 2017 12:00am
Pursuing power sector transformation through structural reforms

Pursuing power sector transformation through structural reforms

As anticipated, implementation of key structural reforms in local power sector was one of the core recommendations made by the International Monetary Fund (IMF) during Article IV consultations with Finance Minister Ishaq Dar recently in Dubai. These struc
Published 15 May, 2017 12:00am
Trump weighs further US troops for Afghanistan

Trump weighs further US troops for Afghanistan

Hanging in a corridor outside the Pentagon press office, a blow-up of a Time magazine cover shows a weary US soldier drawing deeply on his cigarette. Barbed wire and snowy foothills loom behind him. The headline: "How Not to Lose in Afghanistan." The date
Published 15 May, 2017 12:00am
The courts and politics

The courts and politics

This is apropos a Business Recorder editorial "The courts and politics" carried by the newspaper recently. The editorial has plausibly argued that "since political parties across the spectrum appear to have gone into election mode, it is reasonable
Published 15 May, 2017 12:00am
Macron takes power as French president

Macron takes power as French president

Emmanuel Macron became France's youngest ever president on Sunday, promising at his inauguration to restore the country's lost confidence and relaunch the flagging European Union. Macron, a 39-year-old centrist, took the reins of power from Socialist Fran
Published 15 May, 2017 12:00am
Scotland wants to be member of EU: Sturgeon

Scotland wants to be member of EU: Sturgeon

Scottish First Minister Nicola Sturgeon on Sunday said she would want Scotland to be a European Union member but not adopt the euro if it ever became independent. But Sturgeon said it may have to be a "phased approach" and Scotland could initially join th
Published 15 May, 2017 12:00am
Palestine president in India ahead of Modi Israel trip

Palestine president in India ahead of Modi Israel trip

Palestinian President Mahmoud Abbas landed in New Delhi late Sunday for a three-day visit looking to strengthen ties with India ahead of Prime Minister Narendra Modi's historic trip to Israel. Abbas arrived with a delegation for his third state visit to I
Published 15 May, 2017 12:00am
Khatami urges voters to re-elect Rouhani as president

Khatami urges voters to re-elect Rouhani as president

Former president Mohammad Khatami, considered the spiritual leader of Iran's reformists, urged voters on Sunday to re-elect President Hassan Rouhani and support his policy of seeking to end Iran's isolation from the rest of the world. Iran's hardline secu
Published 15 May, 2017 12:00am
French billionaire charged over Fillon fake job scandal

French billionaire charged over Fillon fake job scandal

French billionaire Marc Ladreit de Lacharriere has been charged over a fake jobs scandal that embroiled defeated rightwing presidential candidate Francois Fillon in January, a report said Sunday. Ladreit de Lacharriere employed Fillon's wife Penelope at h
Published 15 May, 2017 12:00am
Three die as Greek train slams into a house

Three die as Greek train slams into a house

An express train that slammed into a house after derailing near Greece's second city Thessaloniki killed three people and seriously injured two others, the train's operator said Sunday. Trainose had initially reported four deaths from the accident which o
Published 15 May, 2017 12:00am
Merkel's party secures key victory in bellwether state vote

Merkel's party secures key victory in bellwether state vote

Chancellor Angela Merkel dealt a devastating blow to her main rival on Sunday, four months before national elections, when early results showed her party securing a strong win in a regional vote in Germany's biggest state. Her Christian Democratic Union (
Published 15 May, 2017 12:00am
No 'clean slate' between the US and Russia: Tillerson

No 'clean slate' between the US and Russia: Tillerson

Relations between the United States and Russia, at their lowest level since the Cold War, will not restart "with a clean slate," Secretary of State Rex Tillerson said on Sunday. The former ExxonMobil CEO, who was decorated in 2013 by Russian President Vla
Published 15 May, 2017 12:00am
EU, Nato condemn North Korea missile test as 'threat to peace'

EU, Nato condemn North Korea missile test as 'threat to peace'

North Korea's test-firing of a ballistic missile constitutes a "threat to international peace and security" as Pyongyang ratchets up tensions in the region, the EU and Nato said Sunday. "This and previous launches constitute a threat to international peac
Published 15 May, 2017 12:00am
Nepal votes in first local election in 20 years

Nepal votes in first local election in 20 years

Nepal held local-level polls on Sunday, the first since 1997 and a key step in its rocky road to democracy more than a decade after a civil war ended. Around a third of registered voters across three provinces were eligible to vote, with the rest of the c
Published 15 May, 2017 12:00am
19th century jewel-encrusted crown stolen

19th century jewel-encrusted crown stolen

A 19th century crown, encrusted with almost 1,800 gem stones, has been stolen from a museum of religious art in central France, the museum authorities said Saturday. The thieves broke in overnight Friday and managed to overcome the "sophisticated security
Published 15 May, 2017 12:00am
Fatah leads local polls in West Bank cities

Fatah leads local polls in West Bank cities

Palestinian president Mahmud Abbas's Fatah party was ahead in most of the West Bank's main cities after municipal elections that highlighted persistent divisions with its rival Hamas, results showed Sunday. Voting took place on Saturday only in the occupi
Published 15 May, 2017 12:00am
115 dead as Yemen cholera outbreak spreads: ICRC

115 dead as Yemen cholera outbreak spreads: ICRC

A cholera outbreak has rapidly spread in Yemen, killing 115 people in two weeks in the impoverished country where hospitals badly damaged by more than two years of war can barely cope. Patients with cholera symptoms have flooded the run-down medical facil
Published 15 May, 2017 12:00am
Australia looks overseas for help in developing north

Australia looks overseas for help in developing north

Australia will host diplomats from China, Britain, and dozens of other countries in its tropical north from Sunday, as part of an effort to drum up investment and broaden the economic base of the sparsely populated region. Far North Queensland extends 340
Published 15 May, 2017 12:00am
Egypt's CIB agrees to sell 13.7 percent of CI Capital stake

Egypt's CIB agrees to sell 13.7 percent of CI Capital stake

Egypt's largest listed bank, Commercial International Bank, has agreed to sell a further 13.7 percent stake in its CI Capital investment banking arm in two deals, CI Capital CEO Mahmoud Attalla said on Sunday. CIB finalised a deal in March to sell about 7
Published 15 May, 2017 12:00am
Dubai's Emaar Properties posts 15 percent jump in profit

Dubai's Emaar Properties posts 15 percent jump in profit

Dubai's Emaar Properties , builder of the world's tallest tower, reported a 15 percent rise in first-quarter net profit on Sunday, broadly in line with analysts' expectations. The developer, in which Dubai's government owns a minority stake, made a net pr
Published 15 May, 2017 12:00am
Dubai government secures $3 billion financing for airports expansion

Dubai government secures $3 billion financing for airports expansion

The Dubai government said on Sunday that it had secured $3 billion in long-term financing for the expansion of its airports. The expansion is one of three multi-billion dollar infrastructure projects that the emirate is planning to fund through debt, toge
Published 15 May, 2017 12:00am
Greece slashes GDP forecast in new budget plans
Exchange

Greece slashes GDP forecast in new budget plans

The Greek government Sunday slashed GDP growth forecast for 2017 as it moved towards submitting new austerity measures, including a wider tax net, for approval by lawmakers. The government lowered the GDP growth target for the year to 1.8 percent from a p
Published 15 May, 2017 12:00am
Sri Lanka government revenue jumps 17 percent in Q1

Sri Lanka government revenue jumps 17 percent in Q1

Sri Lanka's government revenue rose 17 percent in the first quarter compared to a year ago, surpassing Colombo's expectations, due to higher tax collection, Finance Minister Ravi Karunanayake said on Sunday. The government raised its Value-Added Tax from
Published 15 May, 2017 12:00am
Chile to join Asian Infrastructure Investment Bank

Chile to join Asian Infrastructure Investment Bank

Chile is joining the Asian Infrastructure Investment Bank (AIIB), the Foreign Ministry announced Saturday as President Michelle Bachelet paid a visit to China. Bachelet, on a visit to the multilateral lender's headquarters, said Santiago's membership was
Published 15 May, 2017 12:00am
Treasury to play key role in protecting financial IT infrastructure

Treasury to play key role in protecting financial IT infrastructure

The US Treasury Department said Saturday it will play a "leading role" in protecting the global financial system's IT infrastructure. The statement came as a massive wave of weekend ransomware attacks struck banks, hospitals and government agencies in doz
Published 15 May, 2017 12:00am
Treasury to play key role in protecting financial IT infrastructure

Treasury to play key role in protecting financial IT infrastructure

The US Treasury Department said Saturday it will play a "leading role" in protecting the global financial system's IT infrastructure. The statement came as a massive wave of weekend ransomware attacks struck banks, hospitals and government agencies in doz
Published 15 May, 2017 12:00am
Treasury to play key role in protecting financial IT infrastructure

Treasury to play key role in protecting financial IT infrastructure

The US Treasury Department said Saturday it will play a "leading role" in protecting the global financial system''s IT infrastructure. The statement came as a massive wave of weekend ransomware attacks struck banks, hospitals and government agencies in do
Published 15 May, 2017 12:00am
AirAsia to launch new Chinese low cost carrier

AirAsia to launch new Chinese low cost carrier

AirAsia Bhd signed a joint venture agreement with China on Sunday to establish a low cost carrier (LCC), with a base in the east-central city of Zhengzhou. AirAsia (China) is a joint venture between AirAsia, Everbright Group and Henan Government Working G
Published 15 May, 2017 12:00am
Thousands protest in Moscow against housing resettlement plan

Thousands protest in Moscow against housing resettlement plan

Thousands of Muscovites joined a protest rally in the centre of the Russian capital on Sunday against government plans to resettle millions of citizens from shoddy Soviet-era apartment blocks. The draft law on renovation envisages moving some Muscovites i
Published 15 May, 2017 12:00am
Bangladesh economy to achieve record growth of 7.24 percent

Bangladesh economy to achieve record growth of 7.24 percent

Bangladesh's economy will grow a record 7.24 percent in the 2016/17 financial year ending in June, the planning minister said on Sunday, slightly faster than initially expected. Growth in the South Asian country accelerated to 7.11 percent in the 2015/16
Published 15 May, 2017 12:00am
Indonesia coal output seen growing up to 5 percent

Indonesia coal output seen growing up to 5 percent

Indonesia, the world's top thermal coal exporter, could increase production of the fuel used in power stations by 5 percent in 2017 and 2018, the country's leading coal industry association said on Sunday. Indonesia's coal industry has benefited from high
Published 15 May, 2017 12:00am
Wal-Mart pushing hard to catch Amazon in e-commerce

Wal-Mart pushing hard to catch Amazon in e-commerce

Wal-Mart Stores, the 800-pound gorilla of retail, is running hard to catch up in an increasingly crucial segment where it is neither the biggest nor the best: e-commerce. The company, founded in 1962 by Sam Walton, has been gobbling up smaller and niche p
Published 15 May, 2017 12:00am
Nothing gives me more pleasure than to be in China: Shahbaz

Nothing gives me more pleasure than to be in China: Shahbaz

Chief Minister Punjab Mian Shahbaz Sharif said that nothing gives me more pleasure than to be in China, my second home, a country Pakistanis love from the core of their souls. Pakistan is a proud partner of China on China-Pakistan Economic Corridor (CPEC)
Published 15 May, 2017 12:00am
NAB's effective enforcement strategy yielding dividend: chairman

NAB's effective enforcement strategy yielding dividend: chairman

Qamar Zaman Chaudhry, Chairman National Accountability Bureau (NAB) has said that it is Pakistan's apex anti-corruption organisation which was established in 1999 with the mandate to eliminate corruption and to recover looted money from corrupts and depos
Published 15 May, 2017 12:00am
PILER slams workers' killing in Gwadar

PILER slams workers' killing in Gwadar

Pakistan Institute of Labour Education and Research (PILER) on Sunday vehemently condemned the killing of 10 workers in Gwadar, Balochistan and demanded of the government to provide security to labourers working in sensitive areas. In a statement, PILER E
Published 15 May, 2017 12:00am
Shia leader Mushtaq Hamdani dies

Shia leader Mushtaq Hamdani dies

Secretary General Shia Ulema Council Punjab, Maulana Mushtaq Hussain Hamdani died here on Sunday. He was 50 years old. He left behind a widow, two son and three daughters. His Namaz-e-Jinaza was led by prominent Shia leader Allama Sajid Naqvi and attended
Published 15 May, 2017 12:00am
PJA Lahore-UNODC: moot on judicial education system held

PJA Lahore-UNODC: moot on judicial education system held

A two days successful event was hosted by Punjab Judicial Academy (PJA), Lahore in collaboration with the United Nations Office on Drugs and Crime (UNODC), with extensive consultative sessions focused under the title of "Judicial Education System and Futu
Published 15 May, 2017 12:00am
Ex-SCCI president laid to rest

Ex-SCCI president laid to rest

Former President Sialkot Chamber of Commerce and Industry (SCCI) Sheikh Abdul Majid laid to rest in a Cantonment graveyard in the presence of hundred of people including friends and relatives on Sunday afternoon. The funeral prayer was offered in Cantonme
Published 15 May, 2017 12:00am
Slain Gwadar labourers laid to rest

Slain Gwadar labourers laid to rest

Ten labourers gunned down by unidentified attackers in two separate incidents on the outskirts of Gwadar on Saturday were buried in their hometown in Naushero Feroze, Sindh on Sunday. The victims' loved ones buried their relatives in their native village
Published 15 May, 2017 12:00am
PM announces compensation for Gwadar victims

PM announces compensation for Gwadar victims

Sindh Governor Mohammad Zubair said on Sunday that Prime Minister Nawaz Sharif had announced Rs 1 million and Rs 0.5 million compensation each for the victim families of the killed and injured people, respectively, who were attacked by gunmen near Gwadar
Published 15 May, 2017 12:00am
Baloch slams terrorist activities

Baloch slams terrorist activities

Secretary General Jamaat-e-Islami Liaqat Baloch has said that the latest terrorist activities in Balochistan were due to the collusion of the US and India. He rang up JUI (F) chief Maulana Fazlur Rehman and Secretary General, Maulana Abdul Ghafur Haideri,
Published 15 May, 2017 12:00am
PPP won't let PML-N to rig next elections: Zardari

PPP won't let PML-N to rig next elections: Zardari

Former President of Pakistan and Pakistan People's Party Co-chairman Asif Ali Zardari on Sunday said that the ruling party Pakistan Muslim League-Nawaz will not be successful in making a government again in Punjab, adding that the PPP won't allow rigging
Published 15 May, 2017 12:00am
Corruption impedes foreign investment: Imran

Corruption impedes foreign investment: Imran

Pakistan Tehreek-e-Insaf chairman Imran Khan said on Sunday that corruption was a major hurdle in foreign investment in the country. "There is no future for the people of Pakistan if the incumbent rulers are not put behind the bars," Khan said addressing
Published 15 May, 2017 12:00am
Next 120 days are crucial in politics: Rashid

Next 120 days are crucial in politics: Rashid

Awami Muslim League chief Sheikh Rashid Ahmed on Sunday said the upcoming 120 days are crucial for the country. Speaking during a luncheon hosted at his Lal Haveli residence, the AML chief announced that he would contest the next general election from NA-
Published 15 May, 2017 12:00am
Asif slams Gwadar, Mastung incidents

Asif slams Gwadar, Mastung incidents

Minister for Defence Khawaja Asif on Sunday said that the killing of labourers near Gwadar, Mastung blast and other such recent incidents are attempts to destabilise Pakistan. "These attacks are being carried out to sabotage development projects like the
Published 15 May, 2017 12:00am
Afghan boy shot dead in Karachi

Afghan boy shot dead in Karachi

A 15-year-old Afghan boy was allegedly killed by a flat-owner in Karachi's Karimabad area on Sunday after he reportedly demanded Rs 25 for cleaning the flat's staircase, police said. Ayaz Malik, the resident of old Karimabad, opened fire on the boy after
Published 15 May, 2017 12:00am
MoU signed to boost Pak-Oman technology, investment cooperation

MoU signed to boost Pak-Oman technology, investment cooperation

A memorandum of understanding (MoU) was signed between Oman Technology Fund (OTF) Holding Company and Pakistan-Oman Investment Company in an effort to boost technology and investment co-operation. The purpose of the MoU is to explore potential areas of co
Published 15 May, 2017 12:00am
Expert calls for developing fisheries, acquaculture strategy in Fata

Expert calls for developing fisheries, acquaculture strategy in Fata

Omar Hayat, an expert on fisheries and aquaculture, Khyber Pakhtunkhwa and FATA, has said that scientific development of the potential sector according to climate regime would produce valuable high grade animal proteins for the people of FATA and Frontier
Published 15 May, 2017 12:00am
Elahi enquires after Haideri's health

Elahi enquires after Haideri's health

Pakistan Muslim League-Q senior central leader and former Chief Minister Punjab Chaudhry Pervez Elahi held telephonic conversation with Jamiat Ulema-e-Islam-F chief Maulana Fazlur Rehman and Deputy Chairman Senate Maulana Abdul Ghafoor Haideri. He also in
Published 15 May, 2017 12:00am
Rail link between Karachi, Hyderabad restored

Rail link between Karachi, Hyderabad restored

The rail link between Karachi, Hyderabad and upcountry was reopened on Sunday after its suspension following the collision of two trains near Kotri. Officials said the Hazara and Awam Express trains left Karachi Cantt Station on Sunday afternoon after rep
Published 15 May, 2017 12:00am
Two security men injured in Quetta blast

Two security men injured in Quetta blast

Two security personnel were injured in an explosion in Margat area of Quetta Sunday morning, according to Levies officials. An improvised explosive device planted on a roadside detonated when the security forces were en route to Quetta. The injured securi
Published 15 May, 2017 12:00am
Contraband goods worth Rs 2.603 billion seized

Contraband goods worth Rs 2.603 billion seized

Directorate General Intelligence and Investigation (DGI&I), Customs, FBR, Karachi on Saturday claimed to have seized contraband goods worth Rs 2.603 billion during last four months. According to official details, the Anti-Smuggling Organisation (ASO) of D
Published 15 May, 2017 12:00am
Two brothers among four drown

Two brothers among four drown

Four youth including two real brothers drowned in the city's Hawkes Bay beach on Sunday morning and another was saved by rescue swimmers team. According to rescue team, five friends came on picnic at the Hawkes Bay Beach and while swimming a friend drowne
Published 15 May, 2017 12:00am
'No Mercedes Banz being bought for CM'

'No Mercedes Banz being bought for CM'

A spokesman for Punjab government, Malik Muhammad Ahmad Khan, has categorically denied the news item published in appeared print and electronic media regarding a news item, alleging therein that a new Mercedes Benz car is being purchased for the chief min
Published 15 May, 2017 12:00am
'MIDC rendering services to surgical industry'

'MIDC rendering services to surgical industry'

The revamping of Metal Industries Development Centre (MIDC) along with establishment of Institute of Surgical Technology (IST) has been completed at a cost of Rs 234.351 million and 334.384 million respectively and functioning successfully by Technical Ed
Published 15 May, 2017 12:00am
Integrating climate change into public finance

Integrating climate change into public finance

Pakistan's climate vulnerability doesn't figure much in popular discourse. But its linkages with the broader economy require a proactive focus from the public and private sectors. Asad Abbas Maken, who is a Regional Public Finance Expert (Consultant) for
Published 15 May, 2017 12:00am
Integrating climate change into public finance

Integrating climate change into public finance

Pakistan's climate vulnerability doesn't figure much in popular discourse. But its linkages with the broader economy require a proactive focus from the public and private sectors. Asad Abbas Maken, who is a Regional Public Finance Expert (Consultant) for
Published 15 May, 2017 12:00am
Nawaz meets world leaders at Belt & Road Forum

Nawaz meets world leaders at Belt & Road Forum

Prime Minister Muhammad Nawaz Sharif on Sunday said Pakistan considered Vietnam as an important country of the region and wanted to maintain economic and political relationship with it. In a meeting with President of Vietnam Tran Dai Quang on the sideline
Published 15 May, 2017 12:00am
'Pakistan guarantees educational rights for all children'

'Pakistan guarantees educational rights for all children'

Pakistan guarantees educational rights for all children and has policies in place at federal and provincial levels for ensuring the same. However, in spite of this, it is ranked second on the world's most out-of-school children list with a staggering 9.2
Published 15 May, 2017 12:00am
China to further promote cooperation with Pakistan: envoy

China to further promote cooperation with Pakistan: envoy

Chinese Ambassador to Pakistan, Sun Weidong on Sunday said China was ready to work closely with Pakistan to further promote substantial and overall co-operation to bring benefits for peoples of two countries and other regions. "China-Pakistan Economic Cor
Published 15 May, 2017 12:00am
China to further promote cooperation with Pakistan: envoy

China to further promote cooperation with Pakistan: envoy

Chinese Ambassador to Pakistan, Sun Weidong on Sunday said China was ready to work closely with Pakistan to further promote substantial and overall co-operation to bring benefits for peoples of two countries and other regions. "China-Pakistan Economic Cor
Published 15 May, 2017 12:00am
PAC to probe into illegal appointments in NICL
Exchange

PAC to probe into illegal appointments in NICL

Public Accounts Committee (PAC) headed by Opposition Leader in National Assembly, Syed Khurshid Shah has decided to probe into reported irregular and unlawful appointments in National Insurance Company Limited (NICL) including incumbent CEO and Chairman o
Published 15 May, 2017 12:00am
Public sector schools: KP minister distributes medals, scholarships

Public sector schools: KP minister distributes medals, scholarships

Khyber Pakhtunkhwa Minister for Elementary and Secondary Education, Mohammad Atif Khan has said that the reforms introduced in public sector schools have started paying dividends and its ample proof is the enrolment of more than 0.1 million students in pu
Published 15 May, 2017 12:00am
KPEC files 24 corruption references in 2015-16

KPEC files 24 corruption references in 2015-16

Khyber Pakhtunkhwa Ehtesab Commission (KPEC), established by the PTI led provincial government has filed 24 references in last two years of its inception, said annual report 2016 of the anti-graft agency of the province. The commission in its first year o
Published 15 May, 2017 12:00am
Refrain from negative propaganda on social media: Marriyum

Refrain from negative propaganda on social media: Marriyum

Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb has urged the social media users to refrain from negative propaganda against constitutional institutions of the state. In a statement, she said those, who are using s
Published 15 May, 2017 12:00am
PHFMC holds workshop on budget preparation

PHFMC holds workshop on budget preparation

Primary & Secondary Health Department, under Punjab Health Facilities management Company (PHFMC) organised a ONE-DAY Exclusive Workshop on the Training on Budget preparation for of District Health Authorities at Dome Hall, Royal Palm Golf & Country Club h
Published 15 May, 2017 12:00am
NA session today

NA session today

A stormy session of the National Assembly will begin today (Monday) with the opposition parts expected to give tough time to the ruling party on the issue of news-gate. Sources said that as this would be the first session of the National Assembly after th
Published 15 May, 2017 12:00am
765th Urs of Lal Shahbaz Qalandar today

765th Urs of Lal Shahbaz Qalandar today

All the arrangements have been finalised for the 765th annual Urs of great Sufi Saint Hazrat Lal Shahbaz Qalandar (RA) to be commenced on Monday (today) May 15. This time Tight Security arrangements have been made by increasing the number of police and ra
Published 15 May, 2017 12:00am
JUI-F holds rallies to denounce Mastung tragedy

JUI-F holds rallies to denounce Mastung tragedy

The workers of JUI-F staged country-wide protest day and organised protest demonstrations in different cities against suicide attack on Deputy Chairman Senate, Maulana Abdul Ghafoor Haideri. The protesters were demanding immediate arrest and public hangin
Published 15 May, 2017 12:00am
Political admin worker, Levies soldier killed in attack

Political admin worker, Levies soldier killed in attack

Two people were killed when terrorists opened fire on their vehicle in Lower Kurram Agency Sunday morning, according to the political administration officials. According to details, a political Moharrar was on routine patrol along with his guard when the
Published 15 May, 2017 12:00am
Early strikes nudge Pakistan towards series win

Early strikes nudge Pakistan towards series win

Pakistan's push for an historic series-clinching victory was aided by three wickets in the morning session with the West Indies reduced to 73 for four at lunch on the last day of the third and final Test at Windsor Park in Dominica on Sunday.
Published 15 May, 2017 12:00am
Champions Trophy winner to get $2.2 million: ICC

Champions Trophy winner to get $2.2 million: ICC

The winner of next month's Champions Trophy in England and Wales will earn $2.2 million, the International Cricket Council (ICC) said on Sunday. The overall prize money for the 50-over tournament between the world's top eight sides had been increased by h
Published 15 May, 2017 12:00am
Cycling: Crash-hit Thomas fumes at motorbike drama

Cycling: Crash-hit Thomas fumes at motorbike drama

Britain's Geraint Thomas lashed out at Giro d'Italia race organisers Sunday after falling victim to a crash caused by a police motorbike and trailing across the finish over five minutes in arrears. "I don't know what to say, except it's ridiculous," said
Published 15 May, 2017 12:00am
Sri Lanka in altitude training before CT

Sri Lanka in altitude training before CT

Sri Lanka's national cricket squad trained together for the first time in months at a high-altitude location to prepare for June's Champions Trophy, the country's board said Sunday. The 15-man squad led by Angelo Mathews completed a week-long training ses
Published 15 May, 2017 12:00am
Punjab CM praises Misbah, Younis

Punjab CM praises Misbah, Younis

Punjab Chief Minister Muhammad Shahbaz Sharif paid tributes to Test caption Misbah ul Haq on his invaluable services for cricket. The Chief Minister lauded the services of Misbah ul Haq for cricket and said that he has leadership abilities in the real sen
Published 15 May, 2017 12:00am
Traditional dhow boat race retraces Gulf pearl route

Traditional dhow boat race retraces Gulf pearl route

More than 120 traditional dhows retraced a centuries-old pearl diving route off the coast of the United Arab Emirates on Sunday for an annual boat race. The "Al-Gaffal" race, Arabic for "The Return", traces the path pearl-divers would take on their return
Published 15 May, 2017 12:00am
Hamilton wins thrilling Spanish Grand Prix

Hamilton wins thrilling Spanish Grand Prix

Lewis Hamilton roared back into serious contention for a fourth drivers' world title on Sunday when he drove to a well-judged victory for Mercedes in a dramatic Spanish Grand Prix. The three-time champion recovered after losing the lead from his 64th pole
Published 15 May, 2017 12:00am
Coutinho masterclass lifts Reds back to third

Coutinho masterclass lifts Reds back to third

Philippe Coutinho fired Liverpool within touching distance of the Champions League as the Brazilian's masterclass inspired a 4-0 demolition of West Ham on Sunday. Jurgen Klopp's side took the lead when Coutinho's sublime pass was converted by Daniel Sturr
Published 15 May, 2017 12:00am
Players' mediation call after CA pay threat 'aggression'

Players' mediation call after CA pay threat 'aggression'

The players' union called on Cricket Australia Sunday to mediate over intractable wage negotiations instead of threatening not to pay their stars. The governing body late last week threatened not to pay contracted players beyond June 30 unless the propose
Published 15 May, 2017 12:00am
WTA slams Nastase presence as Halep retains Madrid title
Exchange

WTA slams Nastase presence as Halep retains Madrid title

Simona Halep thanked much-criticised Fed Cup coach Ilie Nastase after defending her Madrid Open title on Saturday, but the 70-year-old's role in the trophy presentation was labelled "irresponsible and unacceptable" by the WTA. Halep, who edged out Kristin
Published 15 May, 2017 12:00am
Wall Street week ahead: Technicals stand out amid a quiet market

Wall Street week ahead: Technicals stand out amid a quiet market

As the strongest earnings season since 2011 draws to a close, and with the S&P 500 and Nasdaq Composite hovering near record highs, the biggest concern for some market analysts is, well, the lack of concern. The largest daily move on the S&P 500 in almost
Published 15 May, 2017 12:00am
As index reach grows, FTSE Russell chief downplays fears
Exchange

As index reach grows, FTSE Russell chief downplays fears

Don't fear the indexes, learn from them. That is the message from Mark Makepeace, the chief executive of FTSE Russell, the index provider whose products are now used to track roughly $12.5 trillion as clients pour money into so-called passive products. So
Published 15 May, 2017 12:00am
Chinese yuan, Indian rupee forecast to fall over coming year
Exchange

Chinese yuan, Indian rupee forecast to fall over coming year

The Chinese yuan and Indian rupee are expected to weaken against the dollar over the coming year, a Reuters poll found, with the greenback supported by US interest rate hikes, though analysts have trimmed their bearish bets on Asian currencies from the pr
Published 15 May, 2017 12:00am
Nigeria bond auction raises less than hoped

Nigeria bond auction raises less than hoped

Nigeria sold fewer bonds at auction than expected as the yields on offer failed to attract foreign investors worried about currency risk, traders said. The Debt Management Office (DMO) raised 110 billion naira ($318 million) of the 140 billion naira it ha
Published 15 May, 2017 12:00am
Nigeria bond auction raises less than hoped

Nigeria bond auction raises less than hoped

Nigeria sold fewer bonds at auction than expected as the yields on offer failed to attract foreign investors worried about currency risk, traders said. The Debt Management Office (DMO) raised 110 billion naira ($318 million) of the 140 billion naira it ha
Published 15 May, 2017 12:00am
Iceland's last capital controls may be gone by year-end
Exchange

Iceland's last capital controls may be gone by year-end

Iceland's remaining capital controls should be ended by the end of the year, a top finance official said, dovetailing with a potentially radical overhaul of monetary policy that may include a peg. The country's recovery from its crippling 2008 banking cri
Published 15 May, 2017 12:00am
Japanese investors dump record amount of foreign bonds

Japanese investors dump record amount of foreign bonds

Japanese investors sold a record 4.256 trillion yen ($37.24 billion) of foreign bonds in April, the first month of their 2017/18 financial year, data from the Ministry of Finance showed on Thursday. The Japanese investors' foray into global bonds had stop
Published 15 May, 2017 12:00am
Japanese investors dump record amount of foreign bonds

Japanese investors dump record amount of foreign bonds

Japanese investors sold a record 4.256 trillion yen ($37.24 billion) of foreign bonds in April, the first month of their 2017/18 financial year, data from the Ministry of Finance showed on Thursday. The Japanese investors' foray into global bonds had stop
Published 15 May, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Sunday. 80.50-80.50 (previous 80.50-80.50).
Published 15 May, 2017 12:00am
Gulf markets slip; IMF agreement fails to lift Egypt

Gulf markets slip; IMF agreement fails to lift Egypt

Most Gulf stock markets edged down on Sunday with Saudi Arabia dampened by a much wider first-quarter loss at PetroRabigh, while agreement between the International Monetary Fund and Cairo did little to help Egypt's bourse. The Saudi stock index slipped 0
Published 15 May, 2017 12:00am
ECB warns of bubble risk from banks' 'unconstrained' credit creation

ECB warns of bubble risk from banks' 'unconstrained' credit creation

Banks' "unconstrained" ability to generate credit by pledging the same assets as collateral multiple times needs to be curbed or risks creating a new financial bubble, the vice president of the European Central Bank said on Thursday. Vitor Constancio's re
Published 15 May, 2017 12:00am
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