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Mar 25, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-24
Gold little changed in European trade

Gold little changed in European trade

Gold prices were little changed on Tuesday as the dollar steadied near 6-1/2 month lows and traders locked in profits after two weeks of gains, shrugging off heightened political risk following a deadly suicide attack in Britain. The blast, which killed a
Published 24 May, 2017 12:00am
Bogus Indian claims rejected
Exchange

Bogus Indian claims rejected

Pakistan Army on Tuesday denied claims made by Indian army of destroying Pakistani posts along the Line of Control (LoC). Director General Inter Services Public Relations (ISPR) said in a tweet: "Indian claims of destroying Pakistani post along LoC in Nau
Published 24 May, 2017 12:00am
Any hostile action shall be responded befittingly: CoAS

Any hostile action shall be responded befittingly: CoAS

Chief of the Army Staff General Qamar Javed Bajwa said that any hostile action anywhere along Pakistan's frontiers shall be responded most befittingly despite the country's desire for enduring peace with its neighbours. The army chief made these remarks w
Published 24 May, 2017 12:00am
Any hostile action shall be responded befittingly: CoAS

Any hostile action shall be responded befittingly: CoAS

Chief of the Army Staff General Qamar Javed Bajwa said that any hostile action anywhere along Pakistan's frontiers shall be responded most befittingly despite the country's desire for enduring peace with its neighbours. The army chief made these remarks w
Published 24 May, 2017 12:00am
Government's 'inept' handling of Jadhav case at ICJ irks NA panel

Government's 'inept' handling of Jadhav case at ICJ irks NA panel

The Parliamentary Committee on National Security Tuesday expressed dissatisfaction over the government strategy to effectively fight the Indian spy Kulbhushan Jadhav's case in International Court of Justice (ICJ) and called for a proper representation of
Published 24 May, 2017 12:00am
Government's 'inept' handling of Jadhav case at ICJ irks NA panel

Government's 'inept' handling of Jadhav case at ICJ irks NA panel

The Parliamentary Committee on National Security Tuesday expressed dissatisfaction over the government strategy to effectively fight the Indian spy Kulbhushan Jadhav's case in International Court of Justice (ICJ) and called for a proper representation of
Published 24 May, 2017 12:00am
Trump wants 'compromise'

Trump wants 'compromise'

US President Donald Trump called on Israelis and Palestinians to make compromises for peace Tuesday as he wrapped up a closely watched visit, but offered no specifics on how he would resolve the decades-old conflict. In a speech toward the end of his visi
Published 24 May, 2017 12:00am
Trump wants 'compromise'

Trump wants 'compromise'

US President Donald Trump called on Israelis and Palestinians to make compromises for peace Tuesday as he wrapped up a closely watched visit, but offered no specifics on how he would resolve the decades-old conflict. In a speech toward the end of his visi
Published 24 May, 2017 12:00am
Stocks stay buoyant
Exchange

Stocks stay buoyant

Pakistan Stock Exchange Tuesday witnessed another bullish session on the back of heavy buying by local and foreign investors. The benchmark KSE-100 index rose by 773.46 points to close at 52,146.97 points. The market opened on a strong positive note and t
Published 24 May, 2017 12:00am
Stocks stay buoyant
Exchange

Stocks stay buoyant

Pakistan Stock Exchange Tuesday witnessed another bullish session on the back of heavy buying by local and foreign investors. The benchmark KSE-100 index rose by 773.46 points to close at 52,146.97 points. The market opened on a strong positive note and t
Published 24 May, 2017 12:00am
Stocks stay buoyant
Exchange

Stocks stay buoyant

Pakistan Stock Exchange Tuesday witnessed another bullish session on the back of heavy buying by local and foreign investors. The benchmark KSE-100 index rose by 773.46 points to close at 52,146.97 points. The market opened on a strong positive note and t
Published 24 May, 2017 12:00am
BRIndex30 gains 255.22 points

BRIndex30 gains 255.22 points

On Tuesday, BRIndex30 opened at 27,294.02 points and remained positive throughout the trading session. It touched an intraday high of 27,637.04 points and an intraday low of 27,294.02 points and closed at 27,549.24 points which was 255.22 points or 0.94 p
Published 24 May, 2017 12:00am
BRIndex30 gains 255.22 points

BRIndex30 gains 255.22 points

On Tuesday, BRIndex30 opened at 27,294.02 points and remained positive throughout the trading session. It touched an intraday high of 27,637.04 points and an intraday low of 27,294.02 points and closed at 27,549.24 points which was 255.22 points or 0.94 p
Published 24 May, 2017 12:00am
Suspect named after youngsters killed in UK concert attack

Suspect named after youngsters killed in UK concert attack

Police on Tuesday named a young man - reportedly British-born of Libyan descent - as the suspect behind a suicide bombing that ripped into young fans at a concert in Manchester, killing 22 including an eight-year-old girl. Manchester police identified the
Published 24 May, 2017 12:00am
Suspect named after youngsters killed in UK concert attack

Suspect named after youngsters killed in UK concert attack

Police on Tuesday named a young man - reportedly British-born of Libyan descent - as the suspect behind a suicide bombing that ripped into young fans at a concert in Manchester, killing 22 including an eight-year-old girl. Manchester police identified the
Published 24 May, 2017 12:00am
$10.4 billion current account deficit projected
Cotton

$10.4 billion current account deficit projected

The government has projected a $10.4 billion current account deficit for the next fiscal year (2017-18) largely due to a $26.9 billion trade deficit. Sources said the National Economic Council (NEC) meeting presided over by Prime Minister Nawaz Sharif has
Published 24 May, 2017 12:00am
$10.4 billion current account deficit projected
Cotton

$10.4 billion current account deficit projected

The government has projected a $10.4 billion current account deficit for the next fiscal year (2017-18) largely due to a $26.9 billion trade deficit. Sources said the National Economic Council (NEC) meeting presided over by Prime Minister Nawaz Sharif has
Published 24 May, 2017 12:00am
$10.4 billion current account deficit projected
Cotton

$10.4 billion current account deficit projected

The government has projected a $10.4 billion current account deficit for the next fiscal year (2017-18) largely due to a $26.9 billion trade deficit. Sources said the National Economic Council (NEC) meeting presided over by Prime Minister Nawaz Sharif has
Published 24 May, 2017 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 24 May, 2017 12:00am
MoF reviewing dairy sector proposals
Exchange

MoF reviewing dairy sector proposals

The Ministry of Finance is reviewing a number of budget proposals (2017-18) of dairy sector including abolition of regulatory duty on the import of whey/milk powders, withholding tax exemption on milk, adjustable 7 percent sales tax on import of agricultu
Published 24 May, 2017 12:00am
MoF reviewing dairy sector proposals
Exchange

MoF reviewing dairy sector proposals

The Ministry of Finance is reviewing a number of budget proposals (2017-18) of dairy sector including abolition of regulatory duty on the import of whey/milk powders, withholding tax exemption on milk, adjustable 7 percent sales tax on import of agricultu
Published 24 May, 2017 12:00am
MoF reviewing dairy sector proposals
Exchange

MoF reviewing dairy sector proposals

The Ministry of Finance is reviewing a number of budget proposals (2017-18) of dairy sector including abolition of regulatory duty on the import of whey/milk powders, withholding tax exemption on milk, adjustable 7 percent sales tax on import of agricultu
Published 24 May, 2017 12:00am
MoF reviewing dairy sector proposals
Exchange

MoF reviewing dairy sector proposals

The Ministry of Finance is reviewing a number of budget proposals (2017-18) of dairy sector including abolition of regulatory duty on the import of whey/milk powders, withholding tax exemption on milk, adjustable 7 percent sales tax on import of agricultu
Published 24 May, 2017 12:00am
How does World Bank look at our economy?

How does World Bank look at our economy?

According to the Pakistan Development Update, a routine exercise undertaken by the World Bank for all member countries, uploaded on 20th May 2017, Pakistan is domestically exposed to natural disasters, terrorism and political events. These three elements
Published 24 May, 2017 12:00am
Trump's peace sermon

Trump's peace sermon

It is an incredible turnabout on the part of President Trump, contrasted with his anti-Muslim electoral rhetoric as the elected leader of the United States. Not only did he open his foreign tour by visiting the most conservative Islamic state in the world
Published 24 May, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (May 23, 2017).

Published 24 May, 2017 12:00am
Trump, the businessman
Exchange

Trump, the businessman

On the first ever foreign visit after his election US President Donald Trump has signed $380 billion worth of business deals with Saudi Arabia. These deals also include a $110 billion sales order for Saudi purchases of US defence equipment and services. P
Published 24 May, 2017 12:00am
Nato and EU wonder which Trump will turn up

Nato and EU wonder which Trump will turn up

Hoping for the best, fearing the worst: EU and Nato leaders are braced for their first meeting with US President Donald Trump on their home turf on Thursday. The trepidation in Brussels, a city Trump once dubbed a dangerous "hellhole," is palpable as he h
Published 24 May, 2017 12:00am
Business air travel taxying to take off again

Business air travel taxying to take off again

The business aviation sector, in the doldrums for nearly a decade, could be readying to take off again, as plane makers seek to lure company executives with onboard connectivity and super-comfy seats, experts say. The 2008 global financial crisis and subs
Published 24 May, 2017 12:00am
'Runaway budget deficits'

'Runaway budget deficits'

This is apropos "Runaway budget deficits" carried by Business Recorder yesterday. The headline of the op-ed penned by Dr Hafiz A Pasha brings to one's mind the name of a 1999 American romantic film 'Runaway Bride' directed by Garry Marshall. Starri
Published 24 May, 2017 12:00am
The World Bank report
Exchange

The World Bank report

This is apropos a Business Recorder news item "FY17 growth seen at 5.2pc: Panama Papers enhanced political risks: World Bank" carried by the newspaper on Sunday. According to it, the WB latest report "Pakistan Development Update" launched Saturday
Published 24 May, 2017 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Slight changes were seen on the money market on Tuesday as the rupee showed no major variations against the dollar in the process of trading, dealers said. The rupee, however, recovered its overnight gains in relation to the dollar for buying and selling
Published 24 May, 2017 12:00am
US MIDDAY: gold plunges

US MIDDAY: gold plunges

Gold prices fell on Tuesday, as the US dollar rebounded from 6-1/2-month lows and investors shrugged off heightened political risk following a deadly suicide attack in Britain. The blast at a concert hall in Manchester, which killed at least 22 people, pr
Published 24 May, 2017 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Slight changes were seen on the money market on Tuesday as the rupee showed no major variations against the dollar in the process of trading, dealers said. The rupee, however, recovered its overnight gains in relation to the dollar for buying and selling
Published 24 May, 2017 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

US corn futures fell more than 1 percent on Tuesday on profit-taking and easing concerns about planting delays due to excessive moisture in the Midwest, analysts said. Soyabean and wheat futures also declined, with wheat pressured by better than expected
Published 24 May, 2017 12:00am
Malaysian palm oil falls
Vegetable Oil

Malaysian palm oil falls

Malaysian palm oil futures declined on Tuesday evening, their first drop in three sessions, weighed down by a stronger ringgit and forecasts of rising production. The ringgit, the currency of trade for palm oil, rose to its highest in six months against t
Published 24 May, 2017 12:00am
Rubber climbs
Exchange

Rubber climbs

Benchmark Tokyo rubber futures hit a six-week high on Tuesday on the back of firm oil prices but pared gains by the close of the session as oil erased early gains. The Tokyo Commodity Exchange rubber contract for October delivery finished 5.4 yen higher a
Published 24 May, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 23, 2017).

Published 24 May, 2017 12:00am
Oil settles up slightly on view OPEC will extend output cuts

Oil settles up slightly on view OPEC will extend output cuts

Oil prices settled a bit higher on Tuesday as expectations of an extension to OPEC-led supply cuts overshadowed a White House proposal to sell half of US petroleum reserves. Brent crude settled up 28 cents at $54.15 per barrel. US light crude was up 34 ce
Published 24 May, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 23, 2017).

Published 24 May, 2017 12:00am
Russia beats Saudi Arabia as top China oil supplier for second month

Russia beats Saudi Arabia as top China oil supplier for second month

Russia has kept its top spot as oil supplier to China, beating Saudi Arabia for the second month in row, as independent refiners scooped up more volumes before their first batch of quotas expire. Saudi Arabia and Russia, both vying for more market share i
Published 24 May, 2017 12:00am
Zinc hits three-week high, copper down
Exchange

Zinc hits three-week high, copper down

Zinc hit a three-week peak on Tuesday after imports of the metal into top consumer China rose, underlining potential shortages, but copper was under pressure on indications of healthy supply. Imports of refined zinc to China increased 21 percent in April
Published 24 May, 2017 12:00am
Cotton futures descend
Cotton

Cotton futures descend

ICE cotton futures fell on Tuesday to a near two-week low on favourable weather conditions for planting of the natural fibre crop and increasing expectations of more export cancellations. Favourable weather in top growing regions in the United States and
Published 24 May, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (May 23, 2017)

Published 24 May, 2017 12:00am
Paulson holds SPDR Gold holdings steady
Exchange

Paulson holds SPDR Gold holdings steady

Paulson & Co held its stake steady in the world's biggest gold exchange-traded fund while Soros Fund Management stayed out of the precious metal in the first quarter of 2017, when bullion prices rallied to 3-1/2-month highs, a filing showed on Monday. New
Published 24 May, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (May 23, 2017).

Published 24 May, 2017 12:00am
Attack on police station: Charges framed against Zulfiqar Mirza

Attack on police station: Charges framed against Zulfiqar Mirza

Anti-Terrorism Court (ATC) on Tuesday framed charges against 54 suspects including former Home Minister Sindh Zulfiqar Mirza in four cases including attack on police station in Badin. The court summoned the witnesses on July 11 after suspects denied the c
Published 24 May, 2017 12:00am
Social sector, energy to get priority in budget: Murad

Social sector, energy to get priority in budget: Murad

Sindh Chief Minister Syed Murad Ali Shah has said that social sector, energy and the development schemes would be given due importance in the financial budget for 2017-18. "The next welfare-oriented budget will be aimed at alleviating poverty. Special foc
Published 24 May, 2017 12:00am
Mayor proposes Rs nine billion for city's development projects

Mayor proposes Rs nine billion for city's development projects

Mayor Karachi, Waseem Akhtar on Tuesday informed that he had proposed the Sindh government Rs 9 billion for the city's development schemes for the fiscal year 2017-18. "A detailed proposal in this regard has been already submitted with the provincial gove
Published 24 May, 2017 12:00am
Mayor proposes Rs nine billion for city's development projects

Mayor proposes Rs nine billion for city's development projects

Mayor Karachi, Waseem Akhtar on Tuesday informed that he had proposed the Sindh government Rs 9 billion for the city's development schemes for the fiscal year 2017-18. "A detailed proposal in this regard has been already submitted with the provincial gove
Published 24 May, 2017 12:00am
Experts identify 18 key areas of health for research

Experts identify 18 key areas of health for research

The researchers, academicians and health professionals from around the country have agreed on a five-year 'National Health Research Agenda' (2017-2022) that identifies 18 key areas related to health in which research needs to be carried out.
Published 24 May, 2017 12:00am
Flour mills facing liquidity crunch: PFMA

Flour mills facing liquidity crunch: PFMA

Pakistan Flour Mills Association (PFMA) Central Chairman Badar Uddin Kakkar has alleged that numerous flour mills from Balochistan, KPK and Punjab were facing liquidity crunch while many others had stopped working as they could not receive payment of refu
Published 24 May, 2017 12:00am
PPPP presents Rs 5.8 trillion shadow budget-2017-18

PPPP presents Rs 5.8 trillion shadow budget-2017-18

Pakistan Peoples Party Parliamentarians (PPPP) on Tuesday presented Rs 5.8 trillion shadow budget-2017-18, envisaging Rs 825 billion in revenue, 4 million new tax filers, proposal of restructuring of the Federal Board of Revenue (FBR) and 25 per cent incr
Published 24 May, 2017 12:00am
PPPP presents Rs 5.8 trillion shadow budget-2017-18

PPPP presents Rs 5.8 trillion shadow budget-2017-18

Pakistan Peoples Party Parliamentarians (PPPP) on Tuesday presented Rs 5.8 trillion shadow budget-2017-18, envisaging Rs 825 billion in revenue, 4 million new tax filers, proposal of restructuring of the Federal Board of Revenue (FBR) and 25 per cent incr
Published 24 May, 2017 12:00am
PAC voices concern over sky-rocketing circular debt

PAC voices concern over sky-rocketing circular debt

The Public Accounts Committee on Tuesday expressed serious concern over escalating circular debt which, once again, reached Rs 425 billion. The committee meeting held here under the chairmanship of Syed Khursheed Ahmed Shah was informed by the officials o
Published 24 May, 2017 12:00am
Parliamentary panel for cancelling plot allotted to PFOWA

Parliamentary panel for cancelling plot allotted to PFOWA

A parliamentary panel on Tuesday recommended canceling ten kanals of land plot allotted to Pakistan Foreign Office Women's Association, saying land given for welfare purposes can not be used for commercial purposes. A ten-kanals plot situated at a prime l
Published 24 May, 2017 12:00am
NA body passes NCHR Amendment Bill 2017

NA body passes NCHR Amendment Bill 2017

The National Assembly Standing Committee on Human Rights unanimously passed the bill titled 'The National Commission for Human Rights (NCHR) Amendment Bill, 2017.' MNA Babar Nawaz Khan chaired the committee in which the committee considered and passed the
Published 24 May, 2017 12:00am
Punjab Assembly passes resolution to curb activities of quacks

Punjab Assembly passes resolution to curb activities of quacks

Punjab Assembly in a Private Members Day on Tuesday passed a resolution during the session which asked authorities to curb activities of quacks in the province. Legislator who moved the resolution demanded of the government to close clinics of these quack
Published 24 May, 2017 12:00am
Raza Siddiqui's contribution to philanthropy appreciated

Raza Siddiqui's contribution to philanthropy appreciated

Ali Raza Siddiqui of MJSF appreciated for his remarkable contribution to philanthropy by Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, UAE Ali Raza Siddiqui, co-chairman JS Group and Vice Chairman Mahvash & Jahangir S
Published 24 May, 2017 12:00am
SECP to introduce major changes in Modaraba Ordinance
Exchange

SECP to introduce major changes in Modaraba Ordinance

Shahid Nasim, Executive Director, Securities and Exchange Commission of Pakistan Tuesday said that the existing Modaraba Ordinance was proposed to be repealed and replaced with a comprehensive modern and all-inclusive piece of legislation.
Published 24 May, 2017 12:00am
Faysal Bank appoints Yousaf Hussain as acting CEO

Faysal Bank appoints Yousaf Hussain as acting CEO

The Chairman and Board members of Faysal Bank Limited (FBL) has announced the appointment of Yousaf Hussain as Acting Chief Executive of the Bank with immediate effect. In a statement issued on Tuesday, Farooq Rahmatullah Khan, Chairman of the Board of Di
Published 24 May, 2017 12:00am
PBIF chief for complete ban on cotton import
Cotton

PBIF chief for complete ban on cotton import

President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that Pakistan was the third largest exporter of raw cotton but now it has become an importer since last two years which must be reversed. He suggested the complete b
Published 24 May, 2017 12:00am
Pakistan will overcome existing challenges as it did in the past: Aizaz

Pakistan will overcome existing challenges as it did in the past: Aizaz

Pakistan Ambassador to the United States Aizaz Ahmed Chaudhry said realignments in Asia are posing new challenges to Pakistan adding the country has dealt with such challenges in the past and will overcome the existing ones, too. He was speaking at a rece
Published 24 May, 2017 12:00am
Rally held against heads of JUI-F, PkMAP

Rally held against heads of JUI-F, PkMAP

Activists of All Fata Political Parties Alliance on Tuesday held a rally against federal government, Jamiat Ulema-e-Islam -F Chief Maulana Fazl-ur-Rahman and Pakhtunkhwa Milli Awami Party President Mehmood Khan Achakzai for creating problems in merger of
Published 24 May, 2017 12:00am
Mazdoor Ittehad demands 100 percent increase in salaries

Mazdoor Ittehad demands 100 percent increase in salaries

All Pakistan Mazdoor Action Committee, a body of different trade unions, Tuesday staged a protest demanding 100 per cent increase in their salaries and regularisation of contractual employees in the upcoming budget. The activists of different trade organi
Published 24 May, 2017 12:00am
CPEC an opportunity to connect Pakistani culture with world: Marriyum

CPEC an opportunity to connect Pakistani culture with world: Marriyum

Minister of State for Information and Broadcasting, Marriyum Aurangzeb has said that China-Pakistan Economic Corridor (CPEC) is not just a route but an opportunity to connect national heritage and Pakistani culture with the world. Talking to media persons
Published 24 May, 2017 12:00am
NWA people's novel idea of protest

NWA people's novel idea of protest

To get the attention of the authorises concerned, militancy affected tribal people hailing from North Waziristan Agency (NWA) on Tuesday held a unique protest demonstration by "dancing traditional Attanr on drum beats, against the government for alleged i
Published 24 May, 2017 12:00am
Maritime policy to be revised to attract private investors

Maritime policy to be revised to attract private investors

Ministry of Ports and Shipping admitted on Tuesday that Maritime Policy has failed to attract private investors and it has been decided to revise it. "In a bid to encourage private investors, the government would revise the Maritime Policy," said Secretar
Published 24 May, 2017 12:00am
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