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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-06-08
US purchase mortgage activity hits seven year high

US purchase mortgage activity hits seven year high

US applications to buy a home reached their highest level in about seven years last week as mortgage rates fell to their lowest levels since late 2016, the Mortgage Bankers Association said on Wednesday. The Washington-based group's seasonally adjusted in
Published 08 Jun, 2017 12:00am
S&P affirms US debt rating at AA+

S&P affirms US debt rating at AA+

The Standard & Poor's rating agency has affirmed the United States' long-term debt rating at AA+, but noted the world's largest economy faced uncertain fiscal policy. The rating, one notch below the top grade, is justified by the "resilient" US economy, f
Published 08 Jun, 2017 12:00am
S&P affirms US debt rating at AA+

S&P affirms US debt rating at AA+

The Standard & Poor's rating agency has affirmed the United States' long-term debt rating at AA+, but noted the world's largest economy faced uncertain fiscal policy. The rating, one notch below the top grade, is justified by the "resilient" US economy, f
Published 08 Jun, 2017 12:00am
Turkmen leader calls for end to free water, gas and power

Turkmen leader calls for end to free water, gas and power

Turkmenistan's authoritarian leader has called for an end to free gas, electricity and water, state media reported Wednesday, in a major shake-up for the reclusive state as its economic woes deepen. President Gurbanguly Berdymukhamedov branded the popular
Published 08 Jun, 2017 12:00am
Morocco passes delayed 2017 budget

Morocco passes delayed 2017 budget

Morocco's parliament has approved the country's 2017 budget after months of delays because of negotiations in forming the new government after October elections, state media said. The budget sees a budget deficit of 3 percent of gross domestic product, do
Published 08 Jun, 2017 12:00am
India's central bank keeps rates at 6.25 percent

India's central bank keeps rates at 6.25 percent

India's central bank held interest rates in line with analysts' expectations on Wednesday, rebuffing the finance ministry's desire for a cut after India's growth slowed. The Reserve Bank of India (RBI) said the benchmark repo rate - the level at which it
Published 08 Jun, 2017 12:00am
Tokyo stocks up ahead of Britain vote, Comey

Tokyo stocks up ahead of Britain vote, Comey

Tokyo stocks closed marginally higher on bargain-hunting Wednesday as investors look ahead to Britain's general election and congressional testimony by sacked FBI chief James Comey. The British vote, a European Central Bank policy meeting and testimony fr
Published 08 Jun, 2017 12:00am
Wednesday's early afternoon trade: stocks slip as oil weighs

Wednesday's early afternoon trade: stocks slip as oil weighs

US stocks slipped in early afternoon trading on Wednesday, weighed down by a fall in oil prices, while caution reigned ahead of Thursday's major political and economic events. Oil prices fell more than 4 percent due to an unexpected rise in US crude inven
Published 08 Jun, 2017 12:00am
Wall Street slips ahead of UK vote, ECB, Comey testimony
Exchange

Wall Street slips ahead of UK vote, ECB, Comey testimony

Major US stock indexes ended near session lows on Tuesday as traders shied away from risky assets ahead of major political and economic headlines expected on Thursday. Britain's general election as it maps its exit from the European Union, the European Ce
Published 08 Jun, 2017 12:00am
Australian shares flat, New Zealand lower

Australian shares flat, New Zealand lower

Australian shares closed steady on Wednesday after first-quarter economic growth data beat expectations with a 0.3 percent quarter-over-quarter expansion. The S&P/ASX 200 index closed 0.274 points lower at 5,667.2, virtually flat on the day having recover
Published 08 Jun, 2017 12:00am
Long dated Treasury yields fall

Long dated Treasury yields fall

US long-dated Treasury yields fell to seven-month lows on Tuesday, as nervous investors favored the safety of bonds ahead of Thursday's general election in Britain, the European Central Bank's policy meeting, and former FBI Director James Comey's testimon
Published 08 Jun, 2017 12:00am
Long dated Treasury yields fall

Long dated Treasury yields fall

US long-dated Treasury yields fell to seven-month lows on Tuesday, as nervous investors favored the safety of bonds ahead of Thursday's general election in Britain, the European Central Bank's policy meeting, and former FBI Director James Comey's testimon
Published 08 Jun, 2017 12:00am
Hong Kong shares down

Hong Kong shares down

Hong Kong stocks ended Wednesday lower after hitting a fresh 23-month intraday high, with more listed companies in the city targetted by short-sellers. The Hang Seng index fell 0.1 percent, to 25,974.16, while the China Enterprises Index gained 0.1 percen
Published 08 Jun, 2017 12:00am
China stocks rise

China stocks rise

China stocks advanced on Wednesday, led by the blue-chip CSI300 index closing at a six-month high, as a growing number of listed firms encouraged employees to buy shares, and as the central bank moved to ease fears of a mid-year liquidity crunch. The blue
Published 08 Jun, 2017 12:00am
European stocks supported by banks, utilities before UK election

European stocks supported by banks, utilities before UK election

Banks and utilities supported European stocks on Wednesday, with relief that Spain's struggling Banco Popular was being rescued by Santander lifting bank shares. The STOXX 600 index fell 0.1 percent, weighed down by a late drop in energy stocks. Crude oil
Published 08 Jun, 2017 12:00am
Indian shares soar

Indian shares soar

Indian shares rose on Wednesday in line with broader Asian markets as investors awaited key political and economic events including the monetary policy meeting in India. The Reserve Bank of India is likely to strike a less hawkish tone while leaving inter
Published 08 Jun, 2017 12:00am
FTSE slips as markets brace for election; RBS leads financials higher

FTSE slips as markets brace for election; RBS leads financials higher

Britain's major share index fell on Wednesday, a day before Britons were set to begin voting in parliamentary elections that will shape talks for the country's exit from the European Union. A sharp drop in energy shares and weakness among big internationa
Published 08 Jun, 2017 12:00am
Dollar wallows near six week low in Asia

Dollar wallows near six week low in Asia

The dollar wallowed near a six-week low against the safe-haven yen on Wednesday, with traders cautious ahead of Britain's general election, a European Central Bank policy decision and testimony by former FBI Director James Comey. The greenback treaded wat
Published 08 Jun, 2017 12:00am
Euro dips in Europe after report ECB to cut inflation outlook

Euro dips in Europe after report ECB to cut inflation outlook

The euro fell more than half a percent on Wednesday after a report suggesting the European Central Bank, rather than swinging decisively towards a tighter monetary stance this week, is preparing to cut its outlook for inflation. The single currency had re
Published 08 Jun, 2017 12:00am
Early trade in NY: euro shaky after report ECB to cut inflation outlook

Early trade in NY: euro shaky after report ECB to cut inflation outlook

The euro was slightly weaker against the dollar on Wednesday, in choppy trading, on reports suggesting the European Central Bank would lower its inflation targets at Thursday's policy announcement. The euro was down 0.11 percent to $1.1263, after having f
Published 08 Jun, 2017 12:00am
Dollar weakens against yen in NY

Dollar weakens against yen in NY

The dollar weakened to a more than six-week low against the yen on Tuesday, dipping below a key technical level as Treasury debt yields slipped on increased caution ahead of a trio of potentially market moving events on Thursday. Nervous investors piled i
Published 08 Jun, 2017 12:00am
Sri Lankan rupee edges up

Sri Lankan rupee edges up

The Sri Lankan rupee recovered from early falls and closed slightly firmer on Wednesday as late inward remittances surpassed mild dollar demand from importers, dealers said. Rupee forwards were active, with spot-next forwards ending at 152.85/95 per dolla
Published 08 Jun, 2017 12:00am
Asian currencies fall as investors give up risk assets
Exchange

Asian currencies fall as investors give up risk assets

Most Asian currencies edged lower ahead of a series of economic and political events on Thursday, as investors braced for the possibility of extreme moves in the market. Three key events - UK elections, a European Central Bank policy meeting and testimony
Published 08 Jun, 2017 12:00am
Yuan edges up

Yuan edges up

China's yuan firmed against the dollar on Wednesday, after the central bank set its official guidance at a new seven-month high, but corporate demand for the greenback was seen curbing gains. The People's Bank of China set its daily midpoint higher for th
Published 08 Jun, 2017 12:00am
Sterling sets two week high against dollar

Sterling sets two week high against dollar

Sterling climbed to a two-week high against the dollar on Wednesday, with investors increasingly taking the view that Prime Minister Theresa May's party will win a majority in Britain's general election on Thursday. The pound broke out of a half-cent trad
Published 08 Jun, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 80.59-80.60 (previous 80.59-80.60).
Published 08 Jun, 2017 12:00am
Aussie, kiwi up

Aussie, kiwi up

The Australian dollar hopped to a one-month high on Wednesday as domestic growth numbers beat investors' worst fears, forcing a round of short-covering among bears.The New Zealand dollar was up near three-month peaks underpinned by US dollar weakness and
Published 08 Jun, 2017 12:00am
FIFA sponsors 'accelerate' China's World Cup chances

FIFA sponsors 'accelerate' China's World Cup chances

China's footballers may be struggling on the pitch but its companies are proving to be a big player, signing sponsorship deals with FIFA as the giant Asian nation looks to boost its chances of hosting the World Cup. In the space of a year, football govern
Published 08 Jun, 2017 12:00am
No pressure on underdogs Sri Lanka, says Mathews

No pressure on underdogs Sri Lanka, says Mathews

Angelo Mathews insists there is no pressure on Sri Lanka in their crucial Champions Trophy clash against India on Thursday because the defending champions are expected to thrash his underdogs. Mathews' side must beat India at The Oval to keep alive their
Published 08 Jun, 2017 12:00am
Hasan stars as Pakistan fight back against South Africa

Hasan stars as Pakistan fight back against South Africa

Hasan Ali took three wickets as Pakistan completed a stunning turnaround in the field to restrict South Africa to 219 for eight in their Champions Trophy Group B match at Edgbaston on Wednesday. Just three days after conceding 319 for three against arch-r
Published 08 Jun, 2017 12:00am
Russian club renamed after Chechen strongman's father

Russian club renamed after Chechen strongman's father

Russian Premier League outfit Terek Grozny is to change its name to 'Akhmat' in honour of the slain father of the strongman Chechen Republic leader Ramzan Kadyrov, the club said on Wednesday. Kremlin loyalist Kadyrov - who has ruled the region with an iro
Published 08 Jun, 2017 12:00am
Wahab says he 'let down nation' against India

Wahab says he 'let down nation' against India

Pakistan paceman Wahab Riaz took to Twitter on Wednesday to apologise for his lacklustre showing against arch-rivals India in the Champions Trophy, saying he had "let down his nation". The 31-year-old left-arm quick was smashed for 87 runs in just 8.4 wic
Published 08 Jun, 2017 12:00am
Halep pulls off great escape to join Pliskova in semis

Halep pulls off great escape to join Pliskova in semis

Simona Halep produced an incredible escape act to reach the French Open semi-finals on Wednesday, while Karolina Pliskova ended the run of the lone remaining home hope Caroline Garcia. Romanian third seed Halep saved a match point as she trailed Elina Svi
Published 08 Jun, 2017 12:00am
Thiem stuns champion Djokovic

Thiem stuns champion Djokovic

Dominic Thiem demolished defending champion Novak Djokovic in a stunning French Open upset on Wednesday, setting up a semi-final duel against nine-time champion Rafael Nadal. Austrian sixth seed Thiem sent the world number two crashing to his earliest los
Published 08 Jun, 2017 12:00am
Three US university football players charged with sex assault

Three US university football players charged with sex assault

Three Michigan State University football players have been charged with sexually assaulting a woman in a campus apartment, prompting the US school to dismiss them from the team. A state judge ordered arrest warrants Tuesday for Joshua King, 19, Demetric V
Published 08 Jun, 2017 12:00am
Nadal into 10th French Open semi final

Nadal into 10th French Open semi final

Rafael Nadal qualified for the French Open semi-finals for the 10th time on Wednesday after compatriot Pablo Carreno Busta retired with injury while trailing 6-2, 2-0. Nadal will face title-holder Novak Djokovic for a place in the final if the world numbe
Published 08 Jun, 2017 12:00am
Murray books Wawrinka showdown at French Open

Murray books Wawrinka showdown at French Open

World number one Andy Murray advanced to his fifth French Open semi-final on Wednesday, defeating Japanese eighth seed Kei Nishikori 2-6, 6-1, 7-6 (7/0), 6-1. Murray, who was runner-up to Novak Djokovic at Roland Garros last year, will meet 2015 champion
Published 08 Jun, 2017 12:00am
Britain heads into final day of turbulent election campaign

Britain heads into final day of turbulent election campaign

Britain on Wednesday hit the final day of campaigning for a general election darkened by jihadist attacks in two cities, leaving forecasters struggling to predict an outcome on polling day. Eight people are now confirmed to have died in Saturday's attack
Published 08 Jun, 2017 12:00am
South Korea to freeze new THAAD deployment pending probe

South Korea to freeze new THAAD deployment pending probe

South Korea will suspend any further deployment of a controversial US missile defence system until an environmental impact assessment ordered by new President Moon Jae-In is finished, his office said Wednesday. Seoul agreed last year under Moon's ousted p
Published 08 Jun, 2017 12:00am
Trump taps new FBI director on eve of Comey hearing

Trump taps new FBI director on eve of Comey hearing

President Donald Trump tapped respected lawyer Christopher Wray to be his new FBI director Wednesday, on the eve of potentially explosive testimony on alleged Russian election interference by the agency's ousted chief James Comey. The former federal prose
Published 08 Jun, 2017 12:00am
India court frees four accused of US woman's gang rape

India court frees four accused of US woman's gang rape

An Indian court Wednesday granted bail to four men accused of raping and drugging an American tourist at a New Delhi hotel, the Press Trust of India reported. A judge said the four accused could no longer contribute to the police investigation and served
Published 08 Jun, 2017 12:00am
South Africa west coast storm kills eight, causes chaos

South Africa west coast storm kills eight, causes chaos

A ferocious storm killed eight people as it pummelled South Africa's west coast on Wednesday, forcing the closure of Cape Town harbour, triggering flash floods and causing extensive damage, authorities said. The weather system which struck on Tuesday has
Published 08 Jun, 2017 12:00am
Debris found in sea after Myanmar military plane goes missing

Debris found in sea after Myanmar military plane goes missing

Debris has been found in the sea near where a Myanmar military plane went missing with more than 100 soldiers and their families on board on Wednesday, a local official and air force source said. Navy ships and aircraft had been searching since the aftern
Published 08 Jun, 2017 12:00am
Einstein's theory confirmed in measure of distant star's mass

Einstein's theory confirmed in measure of distant star's mass

Scientists have confirmed one of Albert Einstein's century-old theories by witnessing with the Hubble Space Telescope a phenomenon he thought would never be possible to see, researchers said Wednesday.Astronomers have now glimpsed for the first time a dis
Published 08 Jun, 2017 12:00am
Denmark briefly suspends ferry services over 'threat'

Denmark briefly suspends ferry services over 'threat'

Ferry services between Denmark and neighbouring Sweden and Germany were briefly suspended on Wednesday because of an unspecified "threat", police and the ferry operator said. "Police have checked out the first ferries and after inspection they have been a
Published 08 Jun, 2017 12:00am
Germany withdraws troops from anti IS base in Turkey row

Germany withdraws troops from anti IS base in Turkey row

The German government decided Wednesday to withdraw its troops from Turkey's Incirlik base near the Syrian border after last-ditch talks with Ankara failed to resolve an escalating row. The military personnel along with Tornado surveillance jets and other
Published 08 Jun, 2017 12:00am
France to get new counter terrorism centre

France to get new counter terrorism centre

President Emmanuel Macron will set up a national counter-terrorism centre to coordinate France's intelligence services, his office said Wednesday a day after an attack on a policeman in Paris. The new task force, which will have around 20 staff answering
Published 08 Jun, 2017 12:00am
Turkey Amnesty head arrested over alleged Gulen links

Turkey Amnesty head arrested over alleged Gulen links

The head of Amnesty International in Turkey was arrested Tuesday over suspected links to the movement of cleric Fethullah Gulen, whom Ankara blames for last year's failed coup, the human rights organisation said. Police arrested lawyer Taner Kilic along w
Published 08 Jun, 2017 12:00am
EU unveils defence fund, urges US to stay on world stage

EU unveils defence fund, urges US to stay on world stage

The EU unveiled an unprecedented plan for common defence spending on Wednesday to help Europe stand alone as a global military power, while urging the United States under Donald Trump to remain on the world stage. The proposal by Brussels for a 5.5-billio
Published 08 Jun, 2017 12:00am
Habib's kidnapping: no 'solid evidence' against India, Senate told

Habib's kidnapping: no 'solid evidence' against India, Senate told

The Senate was informed on Wednesday that the government has no 'solid evidence' against India for its involvement in kidnapping of a former military officer Lieutenant Colonel Habib (Retd) from Nepal due to which the case could not be taken to Internatio
Published 08 Jun, 2017 12:00am
RD pushing more companies towards closure: PAAPAM

RD pushing more companies towards closure: PAAPAM

Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM) expressed concerns over not abolishing Regulatory Duty (RD) on products, not being manufactured locally in budget 2017-18. According to PAAPAM Chairman Mashood Ali Khan, the continu
Published 08 Jun, 2017 12:00am
Sale of exposed cooking oil, ghee PSQC considering ban

Sale of exposed cooking oil, ghee PSQC considering ban

The Pakistan Standards and Quality Control Authority is considering imposition of a countrywide ban on the sale of exposed cooking oil and ghee, it was announced at a joint meeting of the PSQCA and the Banaspati Manufacturers Association on Tuesday. The f
Published 08 Jun, 2017 12:00am
JCR VIS upgrades Dubai Islamic Bank credit rating

JCR VIS upgrades Dubai Islamic Bank credit rating

Dubai Islamic Bank Pakistan Limited (DIBPL) entity ratings have been upgraded by JCR-VIS Credit Rating Company Limited from A+/A-1 (Single A Plus/A-One) to AA-/A-1 (Double A Minus/A-One). Outlook on the assigned ratings is Stable. Ratings assigned to DIBP
Published 08 Jun, 2017 12:00am
Three drown as car falls into canal

Three drown as car falls into canal

At least three people drowned to death when a car plunged into a canal in Khanewal's Kabirwala area on Wednesday. According to details, the car was on the way to Gujranwala from Kabirwala when it fell into the canal located at Bhattakot Bridge. The family
Published 08 Jun, 2017 12:00am
Falling exports: malaise is deeper
Cotton

Falling exports: malaise is deeper

Once again, the budget has been presented in glooming terms. And, once again exports have declined, despite the fact that the government launched the ambitious Strategic Trade Policy Framework (STPF) 2015-18 in March 2016 to boost exports. The major objec
Published 08 Jun, 2017 12:00am
Merit Packaging Limited
Mutual Funds

Merit Packaging Limited

Merit Packaging Limited (PSX: MERIT) is a prominent name in the printing and packaging industry of Pakistan. The company has over 25 years of experience in providing quality products to its customers. Merit Packaging was incorporated in 1980, and its prod
Published 08 Jun, 2017 12:00am
Merit Packaging Limited
Mutual Funds

Merit Packaging Limited

Merit Packaging Limited (PSX: MERIT) is a prominent name in the printing and packaging industry of Pakistan. The company has over 25 years of experience in providing quality products to its customers. Merit Packaging was incorporated in 1980, and its prod
Published 08 Jun, 2017 12:00am
Rs 127.91 billion set aside for education

Rs 127.91 billion set aside for education

The Pakistan Tehreek-e-Insaf led Khyber Pakhtunkhwa coalition government in its fifth annual budget has allocated Rs 127.910 billion for education sector in the fiscal budget 2017-18, in which Rs 115.920 billion reserved for primary and secondary while Rs
Published 08 Jun, 2017 12:00am
Five hydel power projects of 215 megawatt to be constructed

Five hydel power projects of 215 megawatt to be constructed

The provincial government of Khyber Pakhtunkhwa will construct five hydel power projects, which will collectively generate 215 megawatt electricity. The projects are included 41MW Koto Hydropower Project (Dir Lower), 11MW Karora Hydropower Project (Shangl
Published 08 Jun, 2017 12:00am
Rs 3.14 billion allocated for sports, tourism & heritage

Rs 3.14 billion allocated for sports, tourism & heritage

The provincial government of Khyber Pakhtunkhwa has allocated Rs 3.14 billion for 54 projects in sports, tourism and culture heritage in the budget for next financial year 2017-18 wherein Rs 2.52 billion have been allocated for projects and Rs 620 million
Published 08 Jun, 2017 12:00am
New taxes imposed on property, CNG & fuel stations

New taxes imposed on property, CNG & fuel stations

Khyber Pakhtunkhwa government in its Finance Bill 2017 for financial year 2017-18 has proposed to exempt services, money transfer, construction of bridges, gas supply, sanitation services, and registration of vehicles registered in other provinces from th
Published 08 Jun, 2017 12:00am
Salaries, pensions raised by 10 percent

Salaries, pensions raised by 10 percent

Khyber Pakhtunkhwa government has announced 10 percent increase in the salaries and pension of the government employees after merger of 2010 adhoc relief. Provincial Finance Minister Muzafar Said advocate presented the fifth budget of PTI led coalition go
Published 08 Jun, 2017 12:00am
Defence cooperation: Pakistan, Romania to explore potential

Defence cooperation: Pakistan, Romania to explore potential

Pakistan and Romania on Wednesday agreed to explore the potential of cooperation in defense production. The understanding came at a meeting between Minister for Defense Production Rana Tanveer Hussain and Romanian Ambassador Nicolae Gola in Islamabad. In
Published 08 Jun, 2017 12:00am
Record Rs 49.4 billion allocated for health sector

Record Rs 49.4 billion allocated for health sector

The government of Khyber Pakhtunkhwa has made a record allocation of Rs 49.4 billion for health sector for next financial year 2017-18, showing whopping increase of 39 percent as compared to outgoing fiscal period. According to budget documents, the alloc
Published 08 Jun, 2017 12:00am
KP budget 2017-2018: huge chunk of Rs 208 billion earmarked for ADP

KP budget 2017-2018: huge chunk of Rs 208 billion earmarked for ADP

A sum of Rs 208 billion has been earmarked for Annual Development Programme (ADP) for financial year 2017-18, showing an increase of 29 per cent as compared to outgoing fiscal period. According to budget document, a total outlay of ADP has been estimated
Published 08 Jun, 2017 12:00am
KP budget 2017-2018: huge chunk of Rs 208 billion earmarked for ADP

KP budget 2017-2018: huge chunk of Rs 208 billion earmarked for ADP

A sum of Rs 208 billion has been earmarked for Annual Development Programme (ADP) for financial year 2017-18, showing an increase of 29 per cent as compared to outgoing fiscal period. According to budget document, a total outlay of ADP has been estimated
Published 08 Jun, 2017 12:00am
Private sector to be facilitated to gear up economic activities

Private sector to be facilitated to gear up economic activities

Senior Advisor Private Sector Engagement for SDGs Farrukh Moriani said that United Nations Development Program (UNDP) in collaboration with Faisalabad Chamber of Commerce and Industry (FCCI) and the government will help private sector to gear up economic
Published 08 Jun, 2017 12:00am
Shehr-e-Khamoshan Authority set up in Punjab

Shehr-e-Khamoshan Authority set up in Punjab

In order to facilitate the bereaving families in the times of distress, Punjab government has formulated Shehr-e-Khamoshan (graveyard) Authority. Each graveyard/crematorium formulated by this authority will provide all burial related services effectively
Published 08 Jun, 2017 12:00am
Rs 51.808 billion allocated for health, population planning

Rs 51.808 billion allocated for health, population planning

The Punjab government has allocated an amount of Rs 51.808 billion in provincial budget 2017-18 for health and population planning sectors. As per budget document, for Primary & Secondary Healthcare (P&HS), the total development outlay for 2017-18 is Rs 2
Published 08 Jun, 2017 12:00am
500 kV Hub-NKI tower damaged

500 kV Hub-NKI tower damaged

National Transmission and Despatch Company Ltd (NTDC) spokesman said on Wednesday that some miscreants made an attempt to blow up tower of 500 kV Hub-NKI transmission line (TL). The explosive material partially damaged the legs of tower No 72 at Northern
Published 08 Jun, 2017 12:00am
JIT report may lead country to chaos: Sanaullah

JIT report may lead country to chaos: Sanaullah

Law Minister Punjab Rana Sanaullah on Wednesday said that the joint investigation team's report was getting marred by controversy which could lead the country to chaos. The provincial minister was talking to media outside the Punjab Assembly. He said Shar
Published 08 Jun, 2017 12:00am
GE to provide 20 locomotives to Railways

GE to provide 20 locomotives to Railways

GE Transportation will provide Pakistan Railways with 20 FDL C20EMP locomotives to help in the transportation of people and goods across the country's mountainous northern terrain. Pakistan Railways and GE Transportation have maintained a successful relat
Published 08 Jun, 2017 12:00am
KCA boycotts contract bids in Khyber Agency

KCA boycotts contract bids in Khyber Agency

Khyber Contractors Association (KCA) has announced the boycott from taking part in contract bids in Khyber Agency and demanded immediate replacement of the Xen public health engineering department Khyber Agency otherwise the contractors would stop working
Published 08 Jun, 2017 12:00am
588 held on power-theft charges

588 held on power-theft charges

In its vigorous drive against menacing power theft in its region, the Gujranwala Electricity Power Company (GEPCO) arrested 588 electricity thieves and recovered over Rs 9 million last month. GEPCO spokesman told Business Recorder that FIRs have be
Published 08 Jun, 2017 12:00am
Army drone crashes in Bahawalnagar

Army drone crashes in Bahawalnagar

Drone of Pakistan Army crashed on Wednesday due to technical glitch in Bahawalnagar however no loss of life was reported. According to sources, the drone was on monitoring during which it fell in the fields in Muhammadpur area of Bahawalnagar. A team of P
Published 08 Jun, 2017 12:00am
Shah urges Shahbaz to withdraw words about judiciary

Shah urges Shahbaz to withdraw words about judiciary

Leader of the Opposition in National Assembly, Syed Khursheed Ahmed Shah on Wednesday criticised the remarks of Chief Minister Punjab Shahbaz Sharif regarding the Supreme Court and said if judiciary is harmed then anarchy would spread across the country.
Published 08 Jun, 2017 12:00am
Incorporation rules: SECP unveils list of prohibited names
Exchange

Incorporation rules: SECP unveils list of prohibited names

The Securities and Exchange Commission of Pakistan (SECP) has issued a list of prohibited names which cannot be incorporated by new companies, including names associated with any political personality, bureau/division, department, undertaking, court/judic
Published 08 Jun, 2017 12:00am
Finance Bill 2017: senate panel receives 263 recommendations
Exchange

Finance Bill 2017: senate panel receives 263 recommendations

The Senate Standing Committee on Finance has received as many as 263 recommendations from Senators pertaining to all the sectors of the economy with majority of them related to taxation for making them part of the Finance Bill 2017. The committee meeting
Published 08 Jun, 2017 12:00am
Senate chief accepts Hashmi's request to withdraw his resignation

Senate chief accepts Hashmi's request to withdraw his resignation

Despite resistance by ruling Pakistan Muslim League-Nawaz (PML-N), Senate Chairman Raza Rabbani Wednesday accepted Nehal Hashmi's request to withdraw his resignation from the Senate seat. In his ruling, Rabbani declared: "I hereby pronounce that the notic
Published 08 Jun, 2017 12:00am
JIT chief hints at informing SC if faces problems

JIT chief hints at informing SC if faces problems

The head of Joint Investigation Team (JIT), tasked by Supreme Court to investigate allegations against Sharif family in Panama Leaks, Wednesday said that he will inform the apex court in written if the JIT faces any problems in conducting the probe.
Published 08 Jun, 2017 12:00am
Opposition's 'awami assembly' slams Shahbaz's remarks, loadshedding

Opposition's 'awami assembly' slams Shahbaz's remarks, loadshedding

The combined opposition in the National Assembly on Wednesday passed two resolutions unanimously in their 'Awami Assembly' wherein they condemned Chief Minister Punjab Shabaz Sharif's statement against superior judiciary and incessant load-shedding across
Published 08 Jun, 2017 12:00am
Pak-Turkey FTA seventh round of negotiations continues in Turkey
Cotton

Pak-Turkey FTA seventh round of negotiations continues in Turkey

The seventh round of negotiations on Free Trade Agreement (FTA) between Pakistan and Turkey continued in Turkey for negotiation to reach the final agreement. "Secretary Ministry of Commerce Younas Dhaga led Pakistan's delegation in on-going talk on FTA be
Published 08 Jun, 2017 12:00am
ISPR rejects threatening messages on social media

ISPR rejects threatening messages on social media

Inter Service Public Relations (ISPR) has rejected some messages of threats circulating on social media and termed them fake and fabricated. ISPR in a statement has clarified that it uses only official accounts for the communication of messages and inform
Published 08 Jun, 2017 12:00am
50 millions grant for PPL Chair at NED

50 millions grant for PPL Chair at NED

"As a major stakeholder in fulfilling country's energy requirements, Pakistan Petroleum Limited (PPL) remains committed to investing in human resource development and use of latest technology for the exploration and production sector through academia-indu
Published 08 Jun, 2017 12:00am
New Islamabad airport to be completed at 170 percent escalated cost

New Islamabad airport to be completed at 170 percent escalated cost

The New International Islamabad Airport will be completed at a 170 percent escalated cost of Rs 100 billion against the initial PC-I estimate of Rs 37 billion. Air traffic would increase manifold and the new airport is projected to serve over 15 million p
Published 08 Jun, 2017 12:00am
CPEC major driver of FDI in Pakistan, says WIR

CPEC major driver of FDI in Pakistan, says WIR

China Pakistan Economic Corridor (CPEC) is the major driver of Foreign Direct Investment (FDI) in Pakistan and accounts for its increase by 56 percent, according to the World Investment Report (WIR) 2017. The United Nations Conference on Trade and Develop
Published 08 Jun, 2017 12:00am
Sam Abbas bags a five star award at APPA

Sam Abbas bags a five star award at APPA

Pakistani interior design company, The Sam Abbas Design Studio has won a 5-star award within the category 'Interior Design - Private Residence' at the Asia Pacific Property Awards (APPA) 2017-2018. They received award for their 'Khalid Chawla Villa'. Chos
Published 08 Jun, 2017 12:00am
Social media crackdown: SHC seeks explanation from FIA

Social media crackdown: SHC seeks explanation from FIA

The Sindh High Court on Wednesday issued notices to the interior ministry and the Federal Investigation Agency (FIA) to submit their replies to a petition challenging crackdown on social media activists. A two-member bench of the high court asked the defe
Published 08 Jun, 2017 12:00am
CEAD distributes 81 laptops among undergraduates

CEAD distributes 81 laptops among undergraduates

The Centre of Excellence in Art and Design (CEAD), Mehran University of Engineering and Technology (MUET) Jamshoro organised Prime Minister's Laptop distribution ceremony at the Centre in which 81 students of undergraduate level were given laptops. Direct
Published 08 Jun, 2017 12:00am
PSX book building: SECP extends time till today
Exchange

PSX book building: SECP extends time till today

In view of investors' interest observed in PSX divestment process, Pakistan Stock Exchange Limited has announced that the Securities and Exchange Commission of Pakistan has allowed extension in time for the book building for offer for sale of shares of th
Published 08 Jun, 2017 12:00am
Rain, thunderstorm likely in current week

Rain, thunderstorm likely in current week

The Met Office has forecast rain and dust-thunderstorm with gusty winds for some Upper and central parts of the country during the current week. It said that a weather system is expected to enter Pakistan to trigger rainy weather with gusty winds scattere
Published 08 Jun, 2017 12:00am
Frequent power outages continue in Karachi

Frequent power outages continue in Karachi

Unannounced load-shedding continued to trouble citizens in Karachi during the month of Ramazan as outages hit hard several areas Tuesday and Wednesday. Residents and small business owners expressed concern over almost 20 hours long load-shedding in reside
Published 08 Jun, 2017 12:00am
Outages badly affect production of apparel sector: Bilwani

Outages badly affect production of apparel sector: Bilwani

The country's giant apparel textile sector is worried over a steep decline in production from electricity load shedding in industrial zones of the city. Electric power remains cut-off for up to eight hours across the city's industrial areas including SITE
Published 08 Jun, 2017 12:00am
Nothing to be bickered about: Bilawal

Nothing to be bickered about: Bilawal

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has responded to Hussain Nawaz's leaked photo, and said there is nothing in the picture to be bickered about. The PPP chairman said it can be seen in the photo that Hussain Nawaz is sitting hono
Published 08 Jun, 2017 12:00am
Sectarian wars must be avoided: Musharraf

Sectarian wars must be avoided: Musharraf

Pakistan should mediate between the parties, not get involved in sectarian wars in the region, former president Pervez Musharraf told a press conference here on Wednesday. Speaking at his home, the former president, who is chairman of his All Pakistan Mus
Published 08 Jun, 2017 12:00am
SBP to issue fresh currency notes through SMS service

SBP to issue fresh currency notes through SMS service

In order to facilitate the general public in acquiring fresh currency notes on the eve of forthcoming Eid-ul-Fitr, the State Bank of Pakistan's SMS services will be operational from June 12, 2017. As per previous practices, the State Bank in collaboration
Published 08 Jun, 2017 12:00am
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