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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-06-03
US unemployment rate hits 16 year low in May

US unemployment rate hits 16 year low in May

The US unemployment rate fell to a 16-year low in May but monthly job creation saw a sharp slowdown, the Labour Department reported Friday. The economy added just 138,000 net new jobs for the month, well below analyst expectations, while the jobless rate
Published 03 Jun, 2017 12:00am
Profit more than doubles for Malaysia's Petronas

Profit more than doubles for Malaysia's Petronas

Malaysia's state energy firm Petronas on Friday said its first quarter profits were more than twice the figure seen in the same period last year as higher oil prices buoyed revenues. The unlisted firm, the single largest source of Malaysian government rev
Published 03 Jun, 2017 12:00am
Canada exports to US hit record high, narrowing overall trade deficit

Canada exports to US hit record high, narrowing overall trade deficit

Canada's trade deficit narrowed in April to Can$370 million (US $274 million), as exports to the United States hit a record high, the government statistical agency announced Friday. The results were worse than the Can$30 million deficit forecast by econom
Published 03 Jun, 2017 12:00am
EU, China strengthen climate ties after Trump pullout

EU, China strengthen climate ties after Trump pullout

The EU said Friday that it would increase cooperation with China to curb climate change after President Donald Trump pulled the US out of the Paris pact, triggering a furious global backlash. Trump announced Thursday that his administration would immediat
Published 03 Jun, 2017 12:00am
California to discuss linking carbon market with China

California to discuss linking carbon market with China

California Governor Jerry Brown said on Thursday he will discuss merging carbon trading markets in his state and China when he travels to Asia later this week, a sign of the governor's ambition to influence global climate change policy. Brown discussed hi
Published 03 Jun, 2017 12:00am
France's Baccarat to be acquired by China fund

France's Baccarat to be acquired by China fund

Centuries-old French crystal maker Baccarat said Friday it is being taken over by a Chinese investment fund in a deal that would allow it to accelerate its international expansion plans. Baccarat said in a statement that China's Fortune Fountain Capital h
Published 03 Jun, 2017 12:00am
China agrees to delay electric car quota by a year

China agrees to delay electric car quota by a year

China agreed to delay an 8 percent quota for electric and hybrid vehicles by a year until 2019, an auto industry source said on Friday, in a major concession for German carmakers seeking to expand in the world's largest auto market. In a draft in Septembe
Published 03 Jun, 2017 12:00am
Japan lender SMFG eyeing M&A in asset management, banking for growth

Japan lender SMFG eyeing M&A in asset management, banking for growth

Japanese lender Sumitomo Mitsui Financial Group (SMFG) is looking to acquire asset management firms at home and abroad as well as commercial banks in emerging Asia to boost growth amid falling loan income and stricter bank regulation, its CEO said. Hobble
Published 03 Jun, 2017 12:00am
Japan lender SMFG eyeing M&A in asset management, banking for growth

Japan lender SMFG eyeing M&A in asset management, banking for growth

Japanese lender Sumitomo Mitsui Financial Group (SMFG) is looking to acquire asset management firms at home and abroad as well as commercial banks in emerging Asia to boost growth amid falling loan income and stricter bank regulation, its CEO said. Hobble
Published 03 Jun, 2017 12:00am
Canada provides $642 million to beleaguered softwood sector

Canada provides $642 million to beleaguered softwood sector

Canada provided Can$867 million (US $642 million) in aid and loans Thursday to its beleaguered forestry industry following surprise US tariffs imposed in April. The funds are to be made available over three years to help forestry companies weather the tra
Published 03 Jun, 2017 12:00am
All electric ferry to navigate Norway fjords

All electric ferry to navigate Norway fjords

An all-electric, emission-free ferry will navigate through Norway's famously stunning fjords from April 2018, the shipowner announced on Thursday. The "Future of the Fjords" will be the world's first wholly electric vessel without a combustion engine, the
Published 03 Jun, 2017 12:00am
Brazil slashes rates, eyes dial down in political storm

Brazil slashes rates, eyes dial down in political storm

Brazil's central bank cut interest rates to a more than three-year low on Wednesday but said it was ready to dial down the pace of easing during a political crisis that threatens government efforts to plug a widening fiscal gap. In a widely-expected move,
Published 03 Jun, 2017 12:00am
UK house prices fall for three months in a row, first time since 2009

UK house prices fall for three months in a row, first time since 2009

British house prices fell for a third consecutive month in May for the first time since 2009, according to a survey on Thursday that underlines the housing market's slowdown since last year's Brexit vote. House prices fell 0.2 percent month-on-month in Ma
Published 03 Jun, 2017 12:00am
Germany finds emission cheating gear on 24,000 Audis in Europe

Germany finds emission cheating gear on 24,000 Audis in Europe

German authorities have found emissions-cheating devices on 24,000 Audi vehicles in Europe, including some 14,000 cars in Germany, transport minister Alexander Dobrindt said Thursday. The software was discovered on the carmaker's diesel A7 and A8 sedans w
Published 03 Jun, 2017 12:00am
Barclays slashes stake in South African unit
Exchange

Barclays slashes stake in South African unit

British banking giant Barclays said Thursday it has further reduced its stake in its South African operations as part of a global strategic re-think unveiled last year. Barclays said in a statement that it had placed a stake of 33.7 percent in Barclays Af
Published 03 Jun, 2017 12:00am
Barclays slashes stake in South African unit
Exchange

Barclays slashes stake in South African unit

British banking giant Barclays said Thursday it has further reduced its stake in its South African operations as part of a global strategic re-think unveiled last year. Barclays said in a statement that it had placed a stake of 33.7 percent in Barclays Af
Published 03 Jun, 2017 12:00am
Italy hikes Q1 GDP growth, improving prospects for full year

Italy hikes Q1 GDP growth, improving prospects for full year

Italy's economy grew 0.4 percent in the first quarter thanks to firm domestic demand, national statistics bureau ISTAT said on Thursday, sharply raising a preliminary estimate and improving prospects for the full year. Preliminary data issued last month p
Published 03 Jun, 2017 12:00am
Australia Q1 business investment rises, April retail sales shine

Australia Q1 business investment rises, April retail sales shine

Australian business investment rose modestly in January-March after four straight declining quarters while April's retail sales rebounded vigorously from a tepid start to the year. Figures from the Australian Bureau of Statistics (ABS) out on Thursday sho
Published 03 Jun, 2017 12:00am
Sri Lankan shares fall
Exchange

Sri Lankan shares fall

Sri Lankan shares snapped two straight sessions of gains on Friday on profit-booking in telecom stocks such as Dialog Axiata Plc, while investors assessed the impact of deadly floods that hit rubber and tea plantations last week on exchange rate and infla
Published 03 Jun, 2017 12:00am
Indian shares climb
Exchange

Indian shares climb

Indian shares climbed on Friday to post record closing highs and a fourth consecutive weekly gain, with Hero MotoCorp Ltd leading the rise on strong monthly sales data. The broader NSE index closed up 0.39 percent at 9,653.50, while the benchmark BSE inde
Published 03 Jun, 2017 12:00am
Wall Street rises as data points to accelerating economy
Exchange

Wall Street rises as data points to accelerating economy

US stocks advanced on Thursday, with each of the major US indexes notching record highs, after a batch of economic data suggested the economy was picking up speed. The ADP private sector employment report showed 253,000 jobs were added in May, well above
Published 03 Jun, 2017 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose on Friday, led by electronics and semiconductor shares, and in line with broader Asia as upbeat data on US manufacturing and employment and buoyant European factory growth boosted investor optimism. The main TAIEX index rose 0.5 percent
Published 03 Jun, 2017 12:00am
Hong Kong shares rise to near two year high

Hong Kong shares rise to near two year high

Hong Kong stocks closed the week at a near two-year high, supported by an upbeat mood in global equity markets and continuous money inflows from China. Both the Hang Seng index and the Hong Kong China Enterprises Index rose 0.4 percent, to 25,924.05 and 1
Published 03 Jun, 2017 12:00am
Treasury yields jump, then retreat

Treasury yields jump, then retreat

US short-dated Treasury yields briefly touched at least one-week highs on Thursday after strong data on US private payrolls marginally boosted expectations for more Federal Reserve interest rate increases in 2017, while caution ahead of Friday's jobs repo
Published 03 Jun, 2017 12:00am
Treasury yields jump, then retreat

Treasury yields jump, then retreat

US short-dated Treasury yields briefly touched at least one-week highs on Thursday after strong data on US private payrolls marginally boosted expectations for more Federal Reserve interest rate increases in 2017, while caution ahead of Friday's jobs repo
Published 03 Jun, 2017 12:00am
Nikkei hits near two-year high, breaks through 20,000

Nikkei hits near two-year high, breaks through 20,000

Japan's Nikkei share average broke through the 20,000-point level for the first time since December 2015 on Friday as strong US economic data and a weaker yen boosted investor confidence. The Nikkei climbed 1.6 percent to 20,177.28 points, its highest clo
Published 03 Jun, 2017 12:00am
Liquidity, economy concerns shut China stocks out of weekly global rally

Liquidity, economy concerns shut China stocks out of weekly global rally

China stocks ended the week little changed on Friday, bucking a global equity rally as investors worried about tightening liquidity and conflicting signals on the health of the world's second-largest economy. The blue-chip CSI300 index fell 0.3 percent to
Published 03 Jun, 2017 12:00am
European shares ends off highs as US jobs growth slows; DAX shines

European shares ends off highs as US jobs growth slows; DAX shines

European shares rose on Friday as investors maintained strong flows into the region but top regional benchmarks came off earlier highs after a disappointing US jobs growth. The pan-European STOXX 600 ended up 0.2 percent. Germany's DAX rose 1.25 percent a
Published 03 Jun, 2017 12:00am
Australian, New Zealand shares climb; finish week higher

Australian, New Zealand shares climb; finish week higher

Australian shares were broadly firmer on Friday, and for a second straight week, tracking a buoyant Wall Street and propped up by gains in banks and miners. The S&P/ASX 200 index rose 0.9 percent to 5,788.10, after it gained 0.2 percent the previous sessi
Published 03 Jun, 2017 12:00am
Most Southeast Asian stocks up

Most Southeast Asian stocks up

Most Southeast Asian markets finished higher on Friday as investors were optimistic with upbeat US manufacturing and employment data suggesting the world's largest economy was regaining speed. US factory activity ticked up in May after slowing for two str
Published 03 Jun, 2017 12:00am
FTSE, mid-caps hit new record high

FTSE, mid-caps hit new record high

A wave of positive economic data lifted stocks across Europe and sent Britain's FTSE to a new record high, with cyclicals leading the way as investors maintained strong flows into the region. The pan-European STOXX 600 was up 0.6 percent by 0720 GMT, whil
Published 03 Jun, 2017 12:00am
Sri Lankan rupee down

Sri Lankan rupee down

The Sri Lankan rupee ended slightly weaker on Friday as importer dollar demand outpaced selling of the US currency by exporters and a state-run bank, while investors assessed the extent of damage to the economy from last week's floods and landslides, deal
Published 03 Jun, 2017 12:00am
Dollar rises against yen in Asia

Dollar rises against yen in Asia

The dollar hit a one-week high against the yen on Friday after upbeat US private sector job figures, while the closely-watched non-farm payrolls report out later in the global day could provide another boost. The dollar hit 111.680 yen, its highest since
Published 03 Jun, 2017 12:00am
Dollar hits one week high against yen in Europe

Dollar hits one week high against yen in Europe

The dollar recovered more ground against the yen on Friday ahead of US jobs data that should, judging by the rhetoric of US central bankers, cement a rise in Federal Reserve interest rates later this month. With the mood on global stock markets broadly bu
Published 03 Jun, 2017 12:00am
Early trade in New York tumbles to seven month low

Early trade in New York tumbles to seven month low

The dollar fell to seven-month lows on Friday after data showed the US economy created fewer jobs than expected last month, which could derail a possible interest rate hike by the Federal Reserve in the second half of this year. The greenback fell to seve
Published 03 Jun, 2017 12:00am
Dollar bounces back in New York trade

Dollar bounces back in New York trade

The dollar rallied on Thursday after a report showed the US economy created more private sector jobs than expected in May, bolstering expectations for an interest rate hike this month. The US unit hit session highs against major currencies such as the yen
Published 03 Jun, 2017 12:00am
Yuan ends week on firm footing
Exchange

Yuan ends week on firm footing

The Chinese yuan ended a holiday-shortened week just off seven-month highs, jumping sharply higher after China's central bank took aggressive steps to prop up the currency, a move that has left traders and analysts guessing at its motivations. The People'
Published 03 Jun, 2017 12:00am
Asian currencies mostly steady

Asian currencies mostly steady

Asian currencies held mostly steady in tight range trade against a firmer dollar on Friday, while the Chinese yuan snapped four straight sessions of gains as tight offshore liquidity eased. Investors refrained from making major trades ahead of non-farm pa
Published 03 Jun, 2017 12:00am
Serbia buys euros to rein in dinar gains

Serbia buys euros to rein in dinar gains

The Serbian central bank continued with euro purchases on the local interbank market on Friday to rein in gains of the dinar, which have been fuelled by increased demand and lending, dealers said. The central bank, which a day earlier purchased 15 million
Published 03 Jun, 2017 12:00am
Strong construction data leaves sterling unchanged

Strong construction data leaves sterling unchanged

Sterling held below seven-month highs against the dollar on Friday, unmoved by stronger-than-expected UK construction sector data, as investors kept an eye out for polls on the country's general election due in less than a week. British construction activ
Published 03 Jun, 2017 12:00am
Aussie, kiwi slip

Aussie, kiwi slip

The Australian and New Zealand dollars slipped on Friday amid broad strength in their US counterpart and on lingering concerns from an unexpected slump in China's manufacturing activity. The Australian dollar fell to a three-week low of $0.7372, down half
Published 03 Jun, 2017 12:00am
Court One architect laments Roland Garros renovation

Court One architect laments Roland Garros renovation

The end of the road is near for the French Open's iconic Court One, with its pending demolition meaning some of the grand slam's spirit will be lost with it, the man who designed it told Reuters on Wednesday. The court, known as The Bullring, was built in
Published 03 Jun, 2017 12:00am
Nadal merciless as Djokovic toils in Paris
Exchange

Nadal merciless as Djokovic toils in Paris

Nine-time champion Rafael Nadal lost just one game in a ruthless display to reach the French Open last 16 on Thursday, but title-holder Novak Djokovic needed five sets to survive. Nadal demonstrated why he is once more considered the overwhelming favourit
Published 03 Jun, 2017 12:00am
Bopanna, Aisam put friendship on hold for cricket

Bopanna, Aisam put friendship on hold for cricket

Rohan Bopanna and Aisam-ul-Haq Qureshi once famously pleaded for peace between India and Pakistan under the banner "Stop war, start tennis". However, the childhood friends will be rivals for around eight hours on Sunday when their two nations clash in the
Published 03 Jun, 2017 12:00am
India cricket tension mounts after resignation

India cricket tension mounts after resignation

Tension over the future of India's head coach Anil Kumble grew Friday after a top cricket administrator resigned slamming the Indian board for its handling of the controversy. Amid a reported battle between team captain Virat Kohli and Kumble, a deadline
Published 03 Jun, 2017 12:00am
Argentine golfing great dies

Argentine golfing great dies

Argentine golfing great Roberto de Vicenzo died in Buenos Aires on Thursday at the age of 94, his son Eduardo said. De Vicenzo started out as a caddie in 1932 but rose through the golfing ranks to win the 1967 British Open, beating the likes of Jack Nikla
Published 03 Jun, 2017 12:00am
Peshawar Premier League T20 from fifth

Peshawar Premier League T20 from fifth

For the first time in the history of Peshawar a floodlight Peshawar Premier League Twenty20 Cricket will be starting from June 5 here at Arbab Niaz Cricket Stadium. This was stated by former Indoor international cricketer Sana Ullah while talking to the m
Published 03 Jun, 2017 12:00am
Ton up Root leads England to victory in Champions Trophy opener

Ton up Root leads England to victory in Champions Trophy opener

Joe Root's career-best unbeaten 133 saw England to an eight-wicket win over Bangladesh in the opening match of the 2017 Champions Trophy at the Oval on Thursday. England, set 306 for victory, finished on 308 for two with 16 balls to spare. Root's innings
Published 03 Jun, 2017 12:00am
Sri Lanka sweat on Mathews as Proteas duo get all clear

Sri Lanka sweat on Mathews as Proteas duo get all clear

Sri Lanka face a nervous wait to discover if captain Angelo Mathews will be fit for their Champions Trophy one-day international opener against South Africa on Saturday. The all-rounder has been struggling with a calf problem and was due to have a fitness
Published 03 Jun, 2017 12:00am
Rain forces no result in Australia New Zealand match

Rain forces no result in Australia New Zealand match

Rain saw the Champions Trophy one-day international between Australia and New Zealand at Edgbaston on Friday end in a no result. Australia, set a revised target of 235 to win in 33 overs, were 53 for three off nine overs when the last of several rain inte
Published 03 Jun, 2017 12:00am
Australia's Turnbull warns against 'coercive' China

Australia's Turnbull warns against 'coercive' China

China has nothing to gain by strong-arming its way in the Asia Pacific, Australia's prime minister said Friday, warning that a "coercive" Beijing would only face resentment in the region. Prime Minister Malcolm Turnbull, speaking at a regional security co
Published 03 Jun, 2017 12:00am
Philippine military launches new air raids in Islamist battle

Philippine military launches new air raids in Islamist battle

Loud explosions rang out in the now mostly deserted city of Marawi on Friday as Philippine fighter jets launched fresh bombing runs in a bid to dislodge militants linked to the Islamic State group. Buildings burned after the raids, as ground forces shelle
Published 03 Jun, 2017 12:00am
Chad blasts UN report on troop abuses in Central Africa

Chad blasts UN report on troop abuses in Central Africa

Chad has strongly objected to a UN report accusing its soldiers of abuses in Central African Republic in an official letter seen by AFP on Friday. "The government of Chad strongly opposes this report which is unfairly written," said the letter from Justic
Published 03 Jun, 2017 12:00am
Iraq forces announce gains in west Mosul

Iraq forces announce gains in west Mosul

Iraqi forces have recaptured one neighbourhood in west Mosul and nearly half of another that are targets of a broad offensive against jihadists launched last week, officers said on Friday. Iraqi security forces are more than seven months into a massive op
Published 03 Jun, 2017 12:00am
UN confirms Iran compliance to nuclear deal

UN confirms Iran compliance to nuclear deal

Iran is still sticking to the 2015 nuclear accord with major powers even as tensions rise between Tehran and US President Donald Trump, a UN atomic watchdog report showed Friday. Trump has vowed to "dismantle" the "disastrous" deal and has ratcheted up US
Published 03 Jun, 2017 12:00am
Kremlin protests new US sanctions on North Korea

Kremlin protests new US sanctions on North Korea

The Kremlin on Friday said it regretted new sanctions against North Korea by the United States that include Russian firms and a company director. The US slapped fresh sanctions Thursday on several North Korean entities and officials as well as two Russian
Published 03 Jun, 2017 12:00am
Astronauts return after marathon ISS mission

Astronauts return after marathon ISS mission

A Soyuz MS-03 spacecraft carrying French astronaut Thomas Pesquet and Russian cosmonaut Oleg Novitskiy landed on the Kazakh steppe Friday, ending their marathon 196-day mission to the International Space Station. NASA TV showed recovery crews swiftly help
Published 03 Jun, 2017 12:00am
One dead, two missing as Taiwan battles floods

One dead, two missing as Taiwan battles floods

Roads turned into rivers in northern Taiwan Friday as rain lashed the island, killing one woman and leaving two others missing. State power company Taipower said a transmission pylon on a hill in New Taipei city toppled during torrential downpours, causin
Published 03 Jun, 2017 12:00am
CIA names former Osama bin Laden hunt chief to run Iran spying

CIA names former Osama bin Laden hunt chief to run Iran spying

The CIA has named the hardline chief of its hunt for Osama bin Laden and head of its lethal drone program to lead Iran operations, the New York Times reported Friday. The choice of Michael D'Andrea to run the Central Intelligence Agency's spying on Iran i
Published 03 Jun, 2017 12:00am
Palestinian dies after stabbing Israeli soldier

Palestinian dies after stabbing Israeli soldier

A Palestinian teenager died of her wounds on Friday, a day after she stabbed an Israeli soldier and was shot, the Israeli hospital that treated her said. The assailant, identified by official Palestinian news agency Wafa as Nawaf Infiaat, 16, from the nor
Published 03 Jun, 2017 12:00am
Morocco king boycotts Africa summit to avoid Netanyahu

Morocco king boycotts Africa summit to avoid Netanyahu

Morocco's king has cancelled plans to attend a West Africa summit this weekend in Liberia due to the presence of Israeli Prime Minister Benjamin Netanyahu, the foreign ministry has said. The North African country is hoping to join the Economic Community o
Published 03 Jun, 2017 12:00am
Putin urges end to 'harmful chatter' over Russian meddling

Putin urges end to 'harmful chatter' over Russian meddling

Russian President Vladimir Putin on Friday called for an end to allegations that Moscow meddled in the US election, as he tried to highlight a fragile economic recovery. The Kremlin strongman launched a blistering attack on accusations he said were basele
Published 03 Jun, 2017 12:00am
Cotton rises ahead of export sales report
Cotton

Cotton rises ahead of export sales report

ICE cotton futures on Thursday rose about 1 percent on expectations of strong weekly sales data from the US Department of Agriculture that is due on Friday. The December cotton contract on ICE futures US settled up 0.71 cent, or 0.98 percent, at 73.5 cent
Published 03 Jun, 2017 12:00am
Shanghai copper little changed
Exchange

Shanghai copper little changed

The most-traded copper contract on the Shanghai Futures Exchange closed little changed, up 0.04 percent at 45,330 yuan($6,650)a tonne on Friday, undermined by concerns over weakening demand and oversupply. Shanghai Futures Exchange nickel ended 1.56 perce
Published 03 Jun, 2017 12:00am
Copper down, zinc drops to new low
Exchange

Copper down, zinc drops to new low

Nickel bounced off its weakest level in nearly a year on Friday while zinc hit a two-week low, pressured by weaker iron ore and oil prices as well as concern about demand in top consumer China. Zinc prices were also knocked by a jump in available inventor
Published 03 Jun, 2017 12:00am
Rubber plunges
Exchange

Rubber plunges

Benchmark Tokyo rubber futures fell on Friday, touching a near seven-month trough, as Shanghai futures stayed at their lowest since at least 2005 while support from a weaker yen and stronger Nikkei capped the decline. The Tokyo Commodity Exchange (TOCOM)
Published 03 Jun, 2017 12:00am
Malaysian palm oil falls
Vegetable Oil

Malaysian palm oil falls

Malaysian palm oil futures suffered their sharpest decline in four sessions on Friday, as the market was weighed down by a drop in Chinese soyaoil prices. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange close
Published 03 Jun, 2017 12:00am
Sugar climbs off 13 month lows, arabica coffee slips

Sugar climbs off 13 month lows, arabica coffee slips

Sugar futures on ICE steadied on Friday at just above their lowest level in more than 13 months on the back of light industry buying and speculative short-covering, although ample global supplies capped gains. July raw sugar rose 0.10 cents, or 0.7 percen
Published 03 Jun, 2017 12:00am
Gold eases in NY

Gold eases in NY

Gold prices eased on Thursday as the dollar rallied after a report showed that the US economy created more private-sector jobs than expected in May, further strengthening expectations for an interest rate hike this month. US private employers added 253,00
Published 03 Jun, 2017 12:00am
Gold falls in Asia

Gold falls in Asia

Gold fell on Friday to hit its lowest in a week, with stock markets climbing and the dollar firming after upbeat US private sector job figures appeared to boost the prospects for an interest rate hike this month. Investors will be looking for further clue
Published 03 Jun, 2017 12:00am
Gold gains in Europe

Gold gains in Europe

Gold prices rose to a near six-week high on Friday in response to disappointing US non-farm payrolls data that lowered expectations for more aggressive US interest rate increases. Data showed that US job growth slowed in May and employment gains in the pr
Published 03 Jun, 2017 12:00am
Tricky forecast raises uncertainties for US corn

Tricky forecast raises uncertainties for US corn

The planting and emergence of the 2017 US corn crop is right on schedule, but the weather might continue to present some unique challenges as May begins. The US Department of Agriculture on Monday placed corn plantings at 34 percent complete by April 30,
Published 03 Jun, 2017 12:00am
Yarn merchants body rejects five percent RD

Yarn merchants body rejects five percent RD

The chairman of the Pakistan Yarn Merchants Association (Sindh-Balochistan Zone), Danish Hanif, has rejected the proposal to impose 5 percent regulatory duty (RD) on import of synthetic filament yarn of polyester. He urged the government to save Pakistan'
Published 03 Jun, 2017 12:00am
Hot, dry weather likely today

Hot, dry weather likely today

The Met Office forecast hot and dry weather for the country in the next 24 hours. Sibbi and Dadu emerged hottest places on Friday with maximum temperature of 48 degrees Celsius. Rahim Yar Khan sizzled with 47, Jacobabad, Shaheed Benazirabad, Padidan, Lark
Published 03 Jun, 2017 12:00am
Police to submit challan in Mashal murder case today

Police to submit challan in Mashal murder case today

Mardan police will submit challan in Mashal Khan lynching case in the court on Saturday (today). The inquiry committee to determine the role of police officer present on the spot during the lynching time of Mashal Khan has completed its inquiry report, 60
Published 03 Jun, 2017 12:00am
Guitarist, songwriter Aamir Zaki passes away

Guitarist, songwriter Aamir Zaki passes away

Renowned Pakistani singer and guitarist Aamir Zaki passed away on Friday. He was aged 49. Zakis family confirmed he was died of cardiac arrest. Zaki began his musical journey when he was discovered by Alamgir at the age of 16. Touring with Alamgir, Zaki w
Published 03 Jun, 2017 12:00am
'Solid waste can help generate electricity'

'Solid waste can help generate electricity'

The president of the Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has said the country can generate 3,000 megawatts from solid waste. He said that many countries are using waste to generate electricity while some are also impor
Published 03 Jun, 2017 12:00am
SECP chief inaugurates Service Desk Management System
Exchange

SECP chief inaugurates Service Desk Management System

The SECP Chairman, Zafar Ul Haq Hijazi, has launched the Securities and Exchange Commission of Pakistan's new Service Desk Management System (SDMS). The new system offers ease of use to the public for filing queries and complaints. It ensures prompt actio
Published 03 Jun, 2017 12:00am
Rs 1105 million earmarked for SW&BM

Rs 1105 million earmarked for SW&BM

The Punjab government has allocated a sum of Rs 605 million for the Department of Social Welfare & Bait-ul-Maal (SW&BM) Punjab and an additional amount of Rs 500 million as Other Development Programmes (OPDs) including the establishment of Violence agains
Published 03 Jun, 2017 12:00am
Rs 21 billion allocated for agriculture sector
Cotton

Rs 21 billion allocated for agriculture sector

The Punjab government has allocated a sum of Rs 21 billion for the agriculture sector under the annual development programme 2017-18 with a plan to execute 34 on-going and 25 new schemes. This also includes Rs 10 billion for Khadim-e-Punjab Kissan Package
Published 03 Jun, 2017 12:00am
Punjab targets Rs 230.9 billion taxes for fiscal year 2017-18

Punjab targets Rs 230.9 billion taxes for fiscal year 2017-18

The Punjab government has targeted Rs 230.9 billion provincial taxes for FY 2017-18 against Rs 175.2 billion in FY 2016-17, an increase of 31.8 percent. Major tax reforms included establishment of Tax Reform Unit, reforms relating to Sales Tax on Services
Published 03 Jun, 2017 12:00am
MoU signed to provide alternative source of energy
Cotton

MoU signed to provide alternative source of energy

World Wide Fund for Nature-Pakistan (WWF-Pakistan) and Sui Northern Gas Pipelines Limited (SNGPL) signed an MoU to provide alternate means of energy to rural communities in cotton and rice producing areas of the country. The formal agreement was signed by
Published 03 Jun, 2017 12:00am
Livestock gets Rs 9.542 billion

Livestock gets Rs 9.542 billion

A sum of Rs 9.542 billion has been proposed for livestock sector of the province under annual development programme 2017-18 with an aim to launch such projects which can promote export surplus and create market pull, improve supply chain, production, proc
Published 03 Jun, 2017 12:00am
Four bodies recovered

Four bodies recovered

Four unidentified bodies were recovered from River Indus at Jinnah Barrage here on Friday. Police said that bodies of four people whose identity was not ascertained, were recovered from Jinnah Barrage in Mianwali. The bodies were shifted to hospital for p
Published 03 Jun, 2017 12:00am
Rs 100 billion misappropriated in three years, claims Elahi

Rs 100 billion misappropriated in three years, claims Elahi

Pakistan Muslim League-Q (PML-Q) senior leader Chaudhry Parvez Elahi has said that minimum Rs 100 billion have been misappropriated during the last three years in the development projects of Punjab. He challenged Shehbaz Sharif to come on any forum as to
Published 03 Jun, 2017 12:00am
LCCI terms Punjab budget relief-oriented

LCCI terms Punjab budget relief-oriented

The Lahore Chamber of Commerce & Industry has termed the Punjab Budget for the year 2017-18 relief-oriented, energy and agriculture focused. The LCCI President Abdul Basit commenting on the Punjab budget said that allocations for development projects, ene
Published 03 Jun, 2017 12:00am
Rs 14.86 billion earmarked for administration of justice

Rs 14.86 billion earmarked for administration of justice

The Punjab government has allocated a sum of Rs 14.86 billion under the head of administration of justice for courts in development budget for the year 2017-18. Under the head of public order and safety affairs, the government has also allocated Rs 19.67
Published 03 Jun, 2017 12:00am
Cabinet okays budget proposals for 2017-18

Cabinet okays budget proposals for 2017-18

Punjab Cabinet, which met here Friday with Chief Minister Muhammad Shahbaz Sharif in the chair, accorded approval to budget proposals for the financial year 2017-18. It also approved revised estimates for the financial bill 2017 and financial year 2016-17
Published 03 Jun, 2017 12:00am
Rs nine billion allocated for energy sector

Rs nine billion allocated for energy sector

The Punjab government has allocated Rs 9 billion for energy sector for the FY 2017-18 with the launch of Khadim-e-Punjab Ujala Programme to Solaris 10,000 schools all over the Punjab. An amount of Rs 3 billion has been proposed for this mega project. The
Published 03 Jun, 2017 12:00am
Rs two billion proposed for forestry sector

Rs two billion proposed for forestry sector

The Punjab government has proposed to allocate a sum of Rs 2 billion for the forestry sector during the financial year 2017-18 with an aim to execute 14 new schemes and continue working on 24 ongoing schemes. New initiatives planned under this sector for
Published 03 Jun, 2017 12:00am
Punjab allocates Rs 263.22 billion for health sector

Punjab allocates Rs 263.22 billion for health sector

The Punjab government has allocated an amount of Rs 263.22 billion for the health sector in its budget for FY 2017-18. A range of reform initiatives and development projects have been initiated including revisiting the legal framework for drug manufacturi
Published 03 Jun, 2017 12:00am
Five killed in road mishap

Five killed in road mishap

At least five passengers were killed and 10 others injured when a coach and a truck collided on Jhang road in the wee hours of Friday. Rescue officials were pulling the bodies and injured out by cutting the wreckage of the coach. Five persons were killed
Published 03 Jun, 2017 12:00am
Revamping of Jinnah Hospital reviewed

Revamping of Jinnah Hospital reviewed

Jinnah Hospital Lahore is in the process of transformation with regard to hospital structure, services and placement of adequate IT system, to ensure quality in service through enforcement of prescribed standards. Medical Superintendent of the hospital, D
Published 03 Jun, 2017 12:00am
'Surgical Tower Lahore' in final phase

'Surgical Tower Lahore' in final phase

Secretary Specialised Healthcare and Medical Education Najam Ahmad Shah visited Surgical Tower, Mayo hospital and directed to accelerate the pace of work to accomplish the project by 30th June. Secretary Health took a detail round of the under constructio
Published 03 Jun, 2017 12:00am
WWF-Pakistan perplexed over mass blooms on coast

WWF-Pakistan perplexed over mass blooms on coast

The WWF-Pakistan on Friday expressed concerns over sudden gush of mass blooms of free organism on the country's coastal waters. It said that a foul smell was reported in different parts of the city on last Wednesday, May 31, particularly felt in South, Ea
Published 03 Jun, 2017 12:00am
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