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Print - 2017-05-24
Health security a bridge to peace, sustainability: Saira Afzal

Health security a bridge to peace, sustainability: Saira Afzal

Minister of State for National Health Services Saira Afzal Tarar has said that Pakistan recognises the importance of health security as a bridge to peace and sustainability. Addressing the Commonwealth Health Minister's meeting at the World Health Assembl
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
UET VC calls for promoting result-oriented education system

UET VC calls for promoting result-oriented education system

The promotion of need and outcome-based education is essential in higher education institutions to produce quality and market-oriented graduates to play their proactive role in economic growth and development of the country, says Professor Dr Noor Muhamma
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
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
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
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
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
KP Assembly adopts Private School Regulatory Authority Bill

KP Assembly adopts Private School Regulatory Authority Bill

Khyber Pakhtunkhwa Assembly Tuesday passed the much-awaited Private Schools Regulatory Authority Bill 2017 to register and regulate functioning of private sector schools in the province. The house also adopted the KP Medical Teaching Institutions (MTIs) R
Published 24 May, 2017 12:00am
Consumers to get maximum relief in Ramazan: Zehri

Consumers to get maximum relief in Ramazan: Zehri

Chief Minister Balochistan Nawab Sanaullah Khan Zehri on Tuesday said maximum relief will be given to the consumers during the upcoming month of Ramazan. He was presiding over a high level meeting to ensure provision of edible items to the people on cheap
Published 24 May, 2017 12:00am
Nine Pakistani children to participate in Toyota Motor contest

Nine Pakistani children to participate in Toyota Motor contest

Nine children, who won the 11th Toyota Dream Car Art Contest Pakistan will compete in World Contest in Japan. Three times previously world winners included Pakistani children. Toyota Dream Art Contest is an annual contest, held in two sections, the local
Published 24 May, 2017 12:00am
Pakistan trade team to visit China in July
Exchange

Pakistan trade team to visit China in July

Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) and Custom Syndicate are jointly organising a high profile trade delegation and study tour to Kashgar-China by road. The delegation will depart Lahore to Kashgar on 15th of July 2017. The purp
Published 24 May, 2017 12:00am
Ziauddin University marks Nurses & Midwives Day

Ziauddin University marks Nurses & Midwives Day

"We see humanity in professions like nursing, and today is the day to celebrate it, so we all are celebrating humanity, dear nurses go out and serve society, it's your day," said Mehtab Akbar Rashidi, Member Standing Committee on Primary Health, Governmen
Published 24 May, 2017 12:00am
Augere to invest $10 million for LTE network deployment

Augere to invest $10 million for LTE network deployment

The Augere Pakistan, being the first company to provide LTE services to the corporate sector, plans to invest up to $10 million to carry out network deployment within the next two years. The services, at the first phase, will be available in 11 cities in
Published 24 May, 2017 12:00am
Sindh governor meets Anusha

Sindh governor meets Anusha

Governor Sindh Muhammad Zubair called on the Minister of State for IT Anusha Rehman here at Islamabad on Tuesday. Many issues of mutual interest pertaining to IT and telecom development were discussed in the meeting. Anusha Rehman informed the governor Si
Published 24 May, 2017 12:00am
CM directs K-Electric for least outages in Ramazan

CM directs K-Electric for least outages in Ramazan

Chief Minister Sindh Syed Murad Ali Shah has directed the K-electric on Tuesday to ensure minimum load shedding during the holy month of Ramazan particularly during Sehr and Iftar. The Chief Minister summoned a high level delegation of K-electric and duri
Published 24 May, 2017 12:00am
FPCCI body to launch police morale boosting drive

FPCCI body to launch police morale boosting drive

Appealing for the co-operation of business community, standing committee of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Law and Order has announced to launch a campaign for boosting moral of police in the holy month of Ramazan. Nad
Updated 25 May, 2017 02:35pm
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
ECP has no authority to reopen its foreign funding case, argues PTI

ECP has no authority to reopen its foreign funding case, argues PTI

Pakistan Tehreek-e-Insaf argued before a three-judge bench led by Chief Justice Mian Saqib Nisar on Tuesday that Election Commission of Pakistan (ECP) has no authority to reopen its foreign funding case; however, the apex court may constitute a commission
Published 24 May, 2017 12:00am
Four students drown near Hawksbay

Four students drown near Hawksbay

Four students of a private school drowned in sea while taking bath near Hawks Bay Karachi on Tuesday. Rescue sources said that four teenage students of a private school who had come to sea side for picnic were taking bath near Hawks Bay when they were swe
Published 24 May, 2017 12:00am
LCCI resents raids at business premises

LCCI resents raids at business premises

The Lahore Chamber of Commerce & Industry (LCCI) has strongly protested against continuous raids at business premises by the staff of the Federal Board of Revenue (FBR) despite the FBR Chairman's assurance that no such action would be taken against busine
Published 24 May, 2017 12:00am
Illegal sale of kidney: SC seeks comprehensive report from governments

Illegal sale of kidney: SC seeks comprehensive report from governments

The Supreme Court on Tuesday sought a comprehensive report from the Federation, Gilgit-Baltistan and all the provincial governments over illegal sale of kidney in the country. Resuming the hearing of a suo motu notice on illegal sale of kidney, a three-me
Published 24 May, 2017 12:00am
Joint efforts needed to solve issue of missing persons: Babar

Joint efforts needed to solve issue of missing persons: Babar

Senator Farhatullah Babar on Tuesday asked the civil society activists and people at large to pressurise political parties to collectively address the issue of enforced disappearances. Addressing a seminar in connection with "International Week of the Dis
Published 24 May, 2017 12:00am
'Pakistan must add 35,000 megawatts to national grid by 2030'

'Pakistan must add 35,000 megawatts to national grid by 2030'

Former chairman of Pakistan Atomic Energy Commission (PAEC), Dr Ansar Parvez said on Tuesday that Pakistan must add 35,000 Megawatts (MW) of additional electricity if it is going to maintain the economic growth rate up to 6 percent or above by 2030. Also,
Published 24 May, 2017 12:00am
Illicit trade of cigarettes assumes alarming proportions

Illicit trade of cigarettes assumes alarming proportions

The illicit trade in cigarettes has reached to the alarming figure of 41 percent of the total market in Pakistan during last quarter (April-June) of 2016-17, according to the latest data compiled by the industry. Sharing situation of illicit trade in Paki
Published 24 May, 2017 12:00am
ABAD voices concern over FBR's move of abolishing FTR

ABAD voices concern over FBR's move of abolishing FTR

The Association of Builders and Developers of Pakistan (ABAD) has expressed serious concerns over the reported move of the Federal Board of Revenue (FBR) to abolish Fixed Tax Regime (FTR) for builders and developers in coming budget (2017-18). Addressing
Published 24 May, 2017 12:00am
Efforts to merge Fata with KP to be foiled: JUI-F

Efforts to merge Fata with KP to be foiled: JUI-F

Jamiat Ulama-e-Islam-Fazl (JUI-F) Fata chapter chief Mufti Abdul Shakoor on Tuesday rejected the Federally Administered Tribal Areas (Fata) merger with Khyber Pakhtunkhwa and termed it against the aspiration of respective tribal people. While addressing a
Published 24 May, 2017 12:00am
Government urged to introduce single valuation table

Government urged to introduce single valuation table

Association of Builders and Developers of Pakistan (ABAD) has urged the federal and provincial government to slash transfer taxes at lowest level and jointly introduce single valuation table in the upcoming budget 2017-18. In its budget proposals, the ABA
Published 24 May, 2017 12:00am
Petition against SWMB: SHC issues notices to stakeholders

Petition against SWMB: SHC issues notices to stakeholders

Sindh High Court (SHC) on Tuesday issued notices for June 1 to all stakeholders over Karachi Mayor Waseem Akhtar and chairmen District Municipal Corporations' (DMCs) constitutional petition against Solid Waste Management Board. Karachi Mayor Waseem Akhtar
Published 24 May, 2017 12:00am
CM approves specialized unit to improve investment climate

CM approves specialized unit to improve investment climate

The Honourable Chief Minister, Sindh has approved the setting up of a dedicated and specialized Unit for improving Investment Climate and Ease of Doing Business in the province. The Sindh Investment Climate Improvement Cell (SICIC) will be established wit
Published 24 May, 2017 12:00am
WWF-P for concerted efforts to protect turtle population

WWF-P for concerted efforts to protect turtle population

The WWF-Pakistan on Tuesday marked the World Turtle Day, calling for steps to safeguard dwindling turtle population in the country. It said that the key stakeholders should join hands to strengthen efforts for the protection of declining turtle population
Published 24 May, 2017 12:00am
PM to inaugurate largest coal power project tomorrow

PM to inaugurate largest coal power project tomorrow

Chief Minister Punjab Shahbaz Sharif said on Tuesday that Pakistan's largest 1320MW coal power project is going to be formally inaugurated on Thursday by Prime Minister Nawaz Sharif. "This project costing 1.8 billion dollars has been completed in a record
Published 24 May, 2017 12:00am
24th passing out parade of FC recruits held

24th passing out parade of FC recruits held

The 24th passing out parade of 365 recruits of Frontier Corp (FC) troops was held in FC ground inside the premises of forces cantonment, tehsil Landi Kotal of Khyber Agency on Tuesday. Besides Brigadier Qazi Wasimuddin, Commander of 23 brigade as chief gu
Published 24 May, 2017 12:00am
Sohail Siyal reappointed as Home Minister

Sohail Siyal reappointed as Home Minister

The Sindh government on Tuesday reappointed Sohail Anwar Siyal as the Home Minister after shuffling in the provincial cabinet in Sindh. A notification has also been released in this regard. Siyal already holds three separate portfolios of Agriculture, Sup
Published 24 May, 2017 12:00am
Hussain Nawaz raises objection on two members of JIT
Exchange

Hussain Nawaz raises objection on two members of JIT

Prime Minister Nawaz Sharif's son, Hussain Nawaz, has raised objection on two members of joint investigation team (JIT) members for Panama Leaks case in Supreme Court. These members represent State Bank of Pakistan and Securities and Exchange Commission o
Published 24 May, 2017 12:00am
Hate speech case: SHC approves bail application of 11 people

Hate speech case: SHC approves bail application of 11 people

The Sindh High Court has approved the bail application of 11 people charged for being involved in incendiary speech on Aug 22, 2016 and for the subsequent attack on media houses. During hearing of the hate speech case on Tuesday, the bail applications wer
Published 24 May, 2017 12:00am
'Unbridled' social media unacceptable, says Nisar
Exchange

'Unbridled' social media unacceptable, says Nisar

Interior Minister Chaudhry Nisar Ali Khan Tuesday made it clear that the government has no plan to impose any restriction on social media but "unbridled" social media is unacceptable in a democratic country. "Let me assure that there will be no restrictio
Published 24 May, 2017 12:00am
Militant behind multiple attacks arrested

Militant behind multiple attacks arrested

Officials claimed on Tuesday they have arrested the mastermind behind several attacks that killed scores of people in the restive south-west, including a devastating blast targeting lawyers in Quetta last year. Officials in Balochistan released video show
Published 24 May, 2017 12:00am
Former PPPP MNA joins PTI

Former PPPP MNA joins PTI

The recent visit of Pakistan Peoples Party Parliamentarians (PPPP) co-chairman Asif Ali Zardari to Khyber Pakhtunkhwa failed to yield any result as he lost an old party guard, Noor Alam, a former MNA to rival Pakistan Tehreek-e-Insaf (PTI). Noor Alam who
Published 24 May, 2017 12:00am
Abbott Laboratories Pakistan
Mutual Funds

Abbott Laboratories Pakistan

Abbot Laboratories Pakistan (PSX: ABOT) is the second biggest pharmaceutical company in Pakistan by market share. Globally the company was founded more than 125 years ago by Dr Wallace C. Abbott and has its headquarter in Chicago, USA. The global giant ha
Published 24 May, 2017 12:00am
Abbott Laboratories Pakistan
Mutual Funds

Abbott Laboratories Pakistan

Abbot Laboratories Pakistan (PSX: ABOT) is the second biggest pharmaceutical company in Pakistan by market share. Globally the company was founded more than 125 years ago by Dr Wallace C. Abbott and has its headquarter in Chicago, USA. The global giant ha
Published 24 May, 2017 12:00am
Shanghai copper slips
Exchange

Shanghai copper slips

Shanghai Futures Exchange copper slipped 0.09 percent at 45,770 yuan ($6,642) a tonne on Tuesday after copper dipped on indications of healthy supply. Imports of refined zinc to China increased 21 percent in April to 47,469 tonnes year-on-year while shipm
Published 24 May, 2017 12:00am
The Weather

The Weather

The weather report on Tuesday (May 23, 2017) and the forecast for Wednesday (May 24, 2017).

Published 24 May, 2017 12:00am
Sugar slips on ample supplies: coffee and cocoa soar

Sugar slips on ample supplies: coffee and cocoa soar

Raw sugar futures fell on Tuesday, slipping from a four-week high touched a day earlier, as an improving weather outlook in Brazil reinforced sentiment that supplies appear ample. July raw sugar eased by 0.3 cents, or 1.82 percent, to 16.21 cents per lb b
Published 24 May, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 23, 2017).

Published 24 May, 2017 12:00am
Gold extends higher in NY

Gold extends higher in NY

Gold on Monday extended its biggest weekly gain in five weeks as the US dollar fell against the euro, while US political turmoil fuelled demand for bullion as a safe-haven and reduced expectations of rapid US interest rate rises. Spot gold was up 0.5 perc
Published 24 May, 2017 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold held steady on Tuesday with investors staying on the sidelines after a suicide bombing attack in the English city of Manchester left at least 22 people dead and more than 50 injured. The explosion occurred at the end of a concert by US singer Ariana
Published 24 May, 2017 12:00am
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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
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
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