News Archives for Print - 2017-08-14 - Business Recorder

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اردو

Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Print - 2017-08-14

Philippine central bank tries to calm FX market, says peso not in freefall

Exchange

Philippine central bank tries to calm FX market, says peso not in freefall

The Philippine central bank on Sunday sought to soothe frayed nerves in the foreign exchange market after the peso hit an 11-year low, saying it was not in a freefall and assuring it would be on guard against excessive volatility. "Let's calm down," Bangk

Published 14 Aug, 2017 12:00am

Kuwait says most of Gulf oil spill cleaned up

Kuwait says most of Gulf oil spill cleaned up

Emergency workers have managed to clean up "the major part" of an oil spill near the joint Kuwaiti-Saudi Al-Khafji oilfield in the Gulf, an official said on Sunday. "The major portion of the main oil spill has been removed," Kuwait Petroleum Corporation (

Published 14 Aug, 2017 12:00am

Kuwait starts chemicals injection in northern oil reservoirs

Kuwait starts chemicals injection in northern oil reservoirs

Kuwait has begun injecting chemicals into complex oil reservoirs to extract heavier grade oil, in the first operation of its kind in the Middle East, state-owned Kuwait Oil Co said on Sunday. The project in the north of the country "aims to enhance and de

Published 14 Aug, 2017 12:00am

Trump orders probe of China's intellectual property rules

Trump orders probe of China's intellectual property rules

US President Donald Trump will sign a memorandum Monday that could lead to sanctions against China over its intellectual property practices, administration officials said Saturday. Trump will direct US Trade Representative Robert Lighthizer to determine w

Published 14 Aug, 2017 12:00am

Yemen central bank complains to Saudi-led coalition about cash deliveries

Yemen central bank complains to Saudi-led coalition about cash deliveries

Yemen's central bank has complained to its allies in a Saudi-led military coalition about a lack of cash deliveries needed to pay salaries, in a sign of the government's struggle to keep the war-torn country's economy afloat. There are two opposing centra

Published 14 Aug, 2017 12:00am

Bangladesh may struggle to buy much-needed wheat

Bangladesh may struggle to buy much-needed wheat

Bangladesh has a major wheat import requirement after floods damaged this year's crops, but global importers are reluctant to sell to the country due to tough state purchasing conditions and slow unloading in ports, traders say. The country started increa

Published 14 Aug, 2017 12:00am

Saudi budget deficit halves after reforms, oil rebound

Saudi budget deficit halves after reforms, oil rebound

Saudi Arabia's budget deficit halved in the first six months of this year, the finance ministry said Sunday, following sweeping spending cuts and a stabilisation in oil prices. The ultra-conservative kingdom has moved to diversify its traditionally oil-de

Published 14 Aug, 2017 12:00am

Egypt streamlines industrial licensing to boost investment

Egypt streamlines industrial licensing to boost investment

Egypt announced executive regulations on Sunday for a new industrial licensing law it says will slash bureaucracy and decrease the waiting time for new projects, reforms it hopes will draw badly needed investment. Egypt's economy has struggled since a 201

Published 14 Aug, 2017 12:00am

Egypt to reduce imports of LNG to 80 cargoes

Egypt to reduce imports of LNG to 80 cargoes

Egypt is planning to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that began in July, Petroleum Minister Tarek El Molla told Reuters on Sunday, down from the 118 cargoes imported last year. Egypt has been trying to speed up

Published 14 Aug, 2017 12:00am

India's gold imports to rebound in 2017 on restocking, good monsoon

India's gold imports to rebound in 2017 on restocking, good monsoon

India's gold imports are likely to jump by a third in 2017 to 750 tonnes on restocking by jewellers and as good monsoon rainfall is expected to boost demand in rural areas during the upcoming festive season, a leading refiner told Reuters. Higher imports

Published 14 Aug, 2017 12:00am

Informal economy not enough to handle Africa's workforce explosion

Informal economy not enough to handle Africa's workforce explosion

Unemployment in Nigeria, sub-Saharan Africa's largest economy, is running at more than 14 percent and climbing; in South Africa, the second largest economy, it is over 27 percent. For youth in both places, it is far more. This may seem bad enough, but acc

Published 14 Aug, 2017 12:00am

Namibia calls Moody's rating downgrade 'speculative'

Namibia calls Moody's rating downgrade 'speculative'

Namibia's finance minister has rejected Moody's decision to downgrade his country's long-term senior unsecured bond and issuer rating to junk status as premature and potentially speculative. Moody's Investor Services issued the downgrade to Ba1 from Baa3

Published 14 Aug, 2017 12:00am

Namibia calls Moody's rating downgrade 'speculative'

Namibia calls Moody's rating downgrade 'speculative'

Namibia's finance minister has rejected Moody's decision to downgrade his country's long-term senior unsecured bond and issuer rating to junk status as premature and potentially speculative. Moody's Investor Services issued the downgrade to Ba1 from Baa3

Published 14 Aug, 2017 12:00am

Repsol Sinopec sees stable output through 2020

Repsol Sinopec sees stable output through 2020

Brazil-based Repsol Sinopec expects oil and gas output to remain steady at an average of 90,000 to 100,000 barrels of oil equivalent per day through 2020, the firm's chief executive told Reuters as part of the Reuters Latin American Investment Summit.

Published 14 Aug, 2017 12:00am

HSBC plans to add staff to Saudi operations

Exchange

HSBC plans to add staff to Saudi operations

HSBC is planning to add staff to its Saudi Arabian operations as the kingdom embarks on one of the biggest economic transformations attempted by any country, the bank's regional chief Georges Elhedery told Reuters. Opportunities for investment banks have

Published 14 Aug, 2017 12:00am

China Mobile H1 profit rises on 4G subscribers

China Mobile H1 profit rises on 4G subscribers

China Mobile Ltd, the country's top telecommunications operator, posted a 3.5 percent rise in first-half net profit as it added 4G subscribers and said it would start field tests for 5G this year. China Mobile, together with rivals China Unicom and China

Published 14 Aug, 2017 12:00am

China Mobile H1 profit rises on 4G subscribers

China Mobile H1 profit rises on 4G subscribers

China Mobile Ltd, the country's top telecommunications operator, posted a 3.5 percent rise in first-half net profit as it added 4G subscribers and said it would start field tests for 5G this year. China Mobile, together with rivals China Unicom and China

Published 14 Aug, 2017 12:00am

Tata Steel swings to profit in Q1

Tata Steel swings to profit in Q1

Tata Steel Ltd returned to profit in the first quarter of this year after a loss a year ago, helped by the ramp up of its Kalinganagar plant in Indian state of Odisha. Revenue in the quarter jumped 19 percent aided by increased capacity in India and Tata'

Published 14 Aug, 2017 12:00am

Tata Steel swings to profit in Q1

Tata Steel swings to profit in Q1

Tata Steel Ltd returned to profit in the first quarter of this year after a loss a year ago, helped by the ramp up of its Kalinganagar plant in Indian state of Odisha. Revenue in the quarter jumped 19 percent aided by increased capacity in India and Tata'

Published 14 Aug, 2017 12:00am

Singtel posts 5.6 percent drop in Q1 profit

Singtel posts 5.6 percent drop in Q1 profit

Singapore Telecommunications Ltd on Friday reported a 5.6 percent drop in first-quarter net profit, hurt by exceptional items and lower contributions from India's Bharti Airtel Ltd, one of its regional associates. Southeast Asia's largest telecom operator

Published 14 Aug, 2017 12:00am

Singtel posts 5.6 percent drop in Q1 profit

Singtel posts 5.6 percent drop in Q1 profit

Singapore Telecommunications Ltd on Friday reported a 5.6 percent drop in first-quarter net profit, hurt by exceptional items and lower contributions from India's Bharti Airtel Ltd, one of its regional associates. Southeast Asia's largest telecom operator

Published 14 Aug, 2017 12:00am

CBS expands streaming services as earnings beat expectations

CBS expands streaming services as earnings beat expectations

CBS Corp is taking its streaming service abroad and launching an online sports service to appeal to the growing number of viewers who prefer to watch their favorite shows online, executives said on Monday. CBS, owner of the most-watched US TV network, wil

Published 14 Aug, 2017 12:00am

Air Arabia reports 19.2 percent rise in Q2 profit

Air Arabia reports 19.2 percent rise in Q2 profit

Budget carrier Air Arabia, the United Arab Emirates' only publicly-listed airline, reported a 19.2 percent rise in second-quarter net profit on Tuesday. The Sharjah-based airline made a net profit of 150.7 million dirhams ($41.03 million) attributable to

Published 14 Aug, 2017 12:00am

Air Arabia reports 19.2 percent rise in Q2 profit

Air Arabia reports 19.2 percent rise in Q2 profit

Budget carrier Air Arabia, the United Arab Emirates' only publicly-listed airline, reported a 19.2 percent rise in second-quarter net profit on Tuesday. The Sharjah-based airline made a net profit of 150.7 million dirhams ($41.03 million) attributable to

Published 14 Aug, 2017 12:00am

Egypt expects 3-5 IPOs before year-end: vice chairman

Exchange

Egypt expects 3-5 IPOs before year-end: vice chairman

Egypt's stock exchange expects to oversee between three and five initial public offerings by year-end, its Vice Chairman said, as high borrowing costs drive more local companies to consider listings in the search for new financing. Egyptian equities took

Published 14 Aug, 2017 12:00am

Ralph Lauren's quarterly results beat on lower discounting

Ralph Lauren's quarterly results beat on lower discounting

Ralph Lauren Corp reported better-than-expected quarterly profit and sales as the luxury apparel maker kept a tight leash on discounting and inventory, sending its shares up 5 percent in premarket trading. Ralph Lauren, like other US apparel chains, has b

Published 14 Aug, 2017 12:00am

Dubai builder Arabtec swings to Q2 profit

Dubai builder Arabtec swings to Q2 profit

Dubai builder Arabtec said on Wednesday that it had swung to a net profit in the second quarter, boosted by profits from its investment in interior designer Depa as well as by cost-cutting. Arabtec made a net profit attributable to equity holders in the p

Published 14 Aug, 2017 12:00am

Dubai builder Arabtec swings to Q2 profit

Dubai builder Arabtec swings to Q2 profit

Dubai builder Arabtec said on Wednesday that it had swung to a net profit in the second quarter, boosted by profits from its investment in interior designer Depa as well as by cost-cutting. Arabtec made a net profit attributable to equity holders in the p

Published 14 Aug, 2017 12:00am

Microsoft unveils technology to speed up blockchain & its adoption

Microsoft unveils technology to speed up blockchain & its adoption

Microsoft Corp is working on technology that it believes can make blockchain-based systems faster and more private, as it looks to speed up use of the distributed database software by enterprises. The company said on Thursday that it had developed a syste

Published 14 Aug, 2017 12:00am

Mozilla and fact-checker engine join fight on fake news

Mozilla and fact-checker engine join fight on fake news

Mozilla, the non-profit which runs the Firefox internet browser, said on August 9 it was launching a drive against "fake news" as fact-checking software backed by eBay founder Pierre Omidyar got its first run-out in public. The US-based open source group

Published 14 Aug, 2017 12:00am

Facebook rolls out new video service as a challenge to rivals

Kerb

Facebook rolls out new video service as a challenge to rivals

Facebook is rolling out a new video service offering professionally produced shows in a challenge to rivals such as YouTube, and potentially to streaming providers like Netflix. The Facebook service called Watch will include a range of shows, from reality

Published 14 Aug, 2017 12:00am

End of an era as typewriting tests phased out in India

End of an era as typewriting tests phased out in India

The unmistakable chatter of typewriters outside courthouses and government offices will soon fall silent in India's financial capital Mumbai as stenography colleges on August 10 hold their final manual exams. The roughly 3,500 institutes teaching the anti

Published 14 Aug, 2017 12:00am

Intel set to roll out 100 self-driving cars

Intel set to roll out 100 self-driving cars

Silicon Valley giant Intel on Wednesday announced plans for a fleet of self-driving cars following its completion of the purchase of Israeli autonomous technology firm Mobileye. A day after closing the $15 billion deal to buy Mobileye, which specializes i

Published 14 Aug, 2017 12:00am

Intel set to roll out 100 self-driving cars

Intel set to roll out 100 self-driving cars

Silicon Valley giant Intel on Wednesday announced plans for a fleet of self-driving cars following its completion of the purchase of Israeli autonomous technology firm Mobileye. A day after closing the $15 billion deal to buy Mobileye, which specializes i

Published 14 Aug, 2017 12:00am

Mass market hopes for battery-free cell phone technology

Mass market hopes for battery-free cell phone technology

Researchers in the United States have unveiled a prototype of a battery-free mobile phone, using technology they hope will eventually come to be integrated into mass-market products. The phone is the work of a group of researchers at the University of Was

Published 14 Aug, 2017 12:00am

Android creator's startup raises $300 million, first smartphone due soon

Android creator's startup raises $300 million, first smartphone due soon

Essential Products, the smartphone startup founded by a co-creator of the Android mobile operating system, has raised $300 million in new funding and signed up retailers to sell its first device, it said on August 9. The $699 phone, with a titanium and ce

Published 14 Aug, 2017 12:00am

Never too old to code: meet Japan's 82-year-old app-maker

Never too old to code: meet Japan's 82-year-old app-maker

When 82-year-old Masako Wakamiya first began working she still used an abacus for maths - August 7 she is one of the world's oldest iPhone app developers, a trailblazer in making smartphones accessible for the elderly. Frustrated by the lack of interest f

Published 14 Aug, 2017 12:00am

Global warming alters timing of floods in Europe: study

Global warming alters timing of floods in Europe: study

Global warming is altering the timing of floods in Europe, making some rivers swell early and others later than usual, a phenomenon that impacts farming and daily life across the region, researchers said on Thursday. The report in the US journal Science i

Published 14 Aug, 2017 12:00am

Music therapy may not lead to big benefits for kids with autism

Music therapy may not lead to big benefits for kids with autism

Children with autism spectrum disorder (ASD) don't benefit from the addition of music therapy on top of their usual treatments, according to results from a large international clinical trial. Researchers found that children with ASD in nine countries scor

Published 14 Aug, 2017 12:00am

Hormone shows promise for treating neurodegenerative conditions: study

Hormone shows promise for treating neurodegenerative conditions: study

A single injection of a fragment of a life-extending protein hormone could improve cognition in those with neurodegenerative illnesses, according to new research published on Tuesday. The klotho protein was found to enhance cognitive and physical performa

Published 14 Aug, 2017 12:00am

Lung cancer on the rise in China due to air pollution

Lung cancer on the rise in China due to air pollution

China has seen a sharp rise in the incidence of lung cancer in the past 10-15 years, with long-term exposure to air pollution a possible culprit, the official China Daily reported on Friday, citing health officials. Experts with the China Academy of Medic

Published 14 Aug, 2017 12:00am

High-fat diet linked to lung cancer risk

Vegetable Oil

High-fat diet linked to lung cancer risk

People who eat a lot of saturated fat - the "bad" kind of fat that's abundant in foods like butter and beef - are more likely to develop lung cancer than individuals on low-fat diets, a recent study suggests. Compared to adults who didn't get a lot of fat

Published 14 Aug, 2017 12:00am

Heart disease risk in middle age tied to dementia later

Heart disease risk in middle age tied to dementia later

Middle-aged people with risk factors for heart attacks and stroke may be more likely to develop dementia in old age than people with healthy cardiovascular systems, a US study suggests. Like previous research, the current study linked so-called vascular r

Published 14 Aug, 2017 12:00am

People's right to place and remove government from power

People's right to place and remove government from power

It is in your hands to put the Government in power or remove the Government from power, but you must not do it by mob methods. You have the power; you must learn the art to use it; you must try and understand the machinery. Constitutionally, it is in your

Published 14 Aug, 2017 12:00am

Pakistan Movement: the bourgeois streak

Pakistan Movement: the bourgeois streak

For long, the Pakistan Movement has been put down, chiefly, as the handiwork of feudals and landlords, claiming that it was ingeniously engineered and primarily led by them, to make themselves secure in the new state claimed for Muslims. Because the Musli

Published 14 Aug, 2017 12:00am

The making of Pakistan: goals and strategies

The making of Pakistan: goals and strategies

The establishment of Pakistan as an independent and sovereign state represented the march of a community to nationhood. It also demonstrated the determination of the predominant majority of Muslims of British India to establish their homeland with the obj

Published 14 Aug, 2017 12:00am

Pakistan's 70 years: some historical facts and the way forward

Cotton

Pakistan's 70 years: some historical facts and the way forward

As we celebrate 70th Independence Day of Pakistan, it is appropriate that we take stock of what Pakistan was, what it went through in recent decades and what we can hope for in the future. It came into being on 14th of August 1947. This was the period whe

Published 14 Aug, 2017 12:00am

TARA GROUP PAKISTAN: A top ranking leader of agro sector in Pakistan

TARA GROUP PAKISTAN: A top ranking leader of agro sector in Pakistan

Under the dynamic leadership of Dr Khalid Hameed, an eminent Agri. Scientist and a renowned visionary leader of Agro-Chemicals Industry, Tara group has achieved a status of a top ranking research based company of Agri. Sector in Pakistan. By qualifying IS

Published 14 Aug, 2017 12:00am

Message from Air Chief Marshal Chief of the Air Staff Pakistan Air Force

Message from Air Chief Marshal Chief of the Air Staff Pakistan Air Force

On the momentous occasion of Independence Day of Pakistan, I extend my warm greetings to all countrymen and women. This Day reminds us of the epic struggle for independence that culminated in the creation of a separate homeland for the Muslims of the Sub-

Published 14 Aug, 2017 12:00am

Sui Northern Gas Pipelines Limited

Sui Northern Gas Pipelines Limited

Government of Pakistan in an effort to overcome the energy crisis faced by the Country has chosen to setup LNG based Power Plants in Punjab, while also providing RLNG to wide range of Industrial, Commercial and Captive Power Plants. The responsibility of

Published 14 Aug, 2017 12:00am

Fauji Fertilizer Company Limited

Fauji Fertilizer Company Limited

Every year, the 14th of August arrives as reminder the life changing sacrifices of millions of Muslims who had to leave their homes in search for dignified lives. In search of harmony to enable specifically the Muslims and generally all other religions th

Published 14 Aug, 2017 12:00am

Role of women in independence of Pakistan

Role of women in independence of Pakistan

The independence day of Pakistan is a reminder of the struggle and sacrifices that were made during the freedom movement by not only men but women as well. It is not wrong to say that active participation of women of sub-continent had accelerated the inde

Published 14 Aug, 2017 12:00am

Aaj TV - MONDAY's schedule

Aaj TV - MONDAY's schedule

All timings are in PST (Pakistan Standard Time).

Published 14 Aug, 2017 12:00am

Your rupee last week

Exchange

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (August 7 to 11, 2017).

Published 14 Aug, 2017 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (JANUARY TO JUNE 2017)

Returns on Profit and Loss Sharing Investment Bank Accounts (JANUARY TO JUNE 2017)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 14 Aug, 2017 12:00am

The Weather

The Weather

The weather report on Sunday (August 13, 2017) and the forecast for Monday (August 14, 2017).

Published 14 Aug, 2017 12:00am

71st Independence Day today

71st Independence Day today

The 71st Independence Day of Pakistan to be celebrated on Monday across the country and in other parts of the world with a renewed pledge to safeguard the motherland against any threat. According to Radio Pakistan, the pledge also include to make it a tru

Published 14 Aug, 2017 12:00am

71st Independence Day today

71st Independence Day today

The 71st Independence Day of Pakistan to be celebrated on Monday across the country and in other parts of the world with a renewed pledge to safeguard the motherland against any threat. According to Radio Pakistan, the pledge also include to make it a tru

Published 14 Aug, 2017 12:00am

THE RUPEE: firm trend

THE RUPEE: firm trend

The rupee did not fluctuate sharply against the dollar on the money market, during the week, ended on August 12, 2017. The rupee firmly held the present levels in terms of the greenback for the buying and selling at Rs 106.70 and Rs 106.90. The rupee, how

Published 14 Aug, 2017 12:00am

THE RUPEE: firm trend

THE RUPEE: firm trend

The rupee did not fluctuate sharply against the dollar on the money market, during the week, ended on August 12, 2017. The rupee firmly held the present levels in terms of the greenback for the buying and selling at Rs 106.70 and Rs 106.90. The rupee, how

Published 14 Aug, 2017 12:00am

PPIB approves processing of coal conversion project

PPIB approves processing of coal conversion project

Private Power Infrastructure Board (PPIB) has approved processing of the 134 MW coal conversion project by Saba Power Limited after fulfillment of the applicable prerequisites and receipt of NoC from the Power Purchaser (CPPA), well informed sources told

Published 14 Aug, 2017 12:00am

PPIB approves processing of coal conversion project

PPIB approves processing of coal conversion project

Private Power Infrastructure Board (PPIB) has approved processing of the 134 MW coal conversion project by Saba Power Limited after fulfillment of the applicable prerequisites and receipt of NoC from the Power Purchaser (CPPA), well informed sources told

Published 14 Aug, 2017 12:00am

PPIB approves processing of coal conversion project

PPIB approves processing of coal conversion project

Private Power Infrastructure Board (PPIB) has approved processing of the 134 MW coal conversion project by Saba Power Limited after fulfillment of the applicable prerequisites and receipt of NoC from the Power Purchaser (CPPA), well informed sources told

Published 14 Aug, 2017 12:00am

Wang meets Prime Minister, attends CPEC ceremony

Wang meets Prime Minister, attends CPEC ceremony

Wang Yang, the Vice-Premier of the State Council of People's Republic of China called on Prime Minister Shahid Khaqan Abbasi at PM House, here on Sunday. The Prime Minister, while warmly welcoming Wang Yang, said that Pakistan and China are all weather fr

Published 14 Aug, 2017 12:00am

Wang meets Prime Minister, attends CPEC ceremony

Wang meets Prime Minister, attends CPEC ceremony

Wang Yang, the Vice-Premier of the State Council of People's Republic of China called on Prime Minister Shahid Khaqan Abbasi at PM House, here on Sunday. The Prime Minister, while warmly welcoming Wang Yang, said that Pakistan and China are all weather fr

Published 14 Aug, 2017 12:00am

Wang meets Prime Minister, attends CPEC ceremony

Wang meets Prime Minister, attends CPEC ceremony

Wang Yang, the Vice-Premier of the State Council of People''s Republic of China called on Prime Minister Shahid Khaqan Abbasi at PM House, here on Sunday. The Prime Minister, while warmly welcoming Wang Yang, said that Pakistan and China are all weather f

Published 14 Aug, 2017 12:00am

Wang meets Prime Minister, attends CPEC ceremony

Wang meets Prime Minister, attends CPEC ceremony

Wang Yang, the Vice-Premier of the State Council of People''''s Republic of China called on Prime Minister Shahid Khaqan Abbasi at PM House, here on Sunday. The Prime Minister, while warmly welcoming Wang Yang, said that Pakistan and China are all weather

Published 14 Aug, 2017 12:00am

Five killed in held Kashmir

Five killed in held Kashmir

Two soldiers and three freedom fighters were killed in an overnight gunbattle in held Kashmir, officials said Sunday, in the latest bloodshed. Hundreds of Indian soldiers and counter-insurgency forces surrounded Awneera, a village about 50 kilometres (32

Published 14 Aug, 2017 12:00am

Five killed in held Kashmir

Five killed in held Kashmir

Two soldiers and three freedom fighters were killed in an overnight gunbattle in held Kashmir, officials said Sunday, in the latest bloodshed. Hundreds of Indian soldiers and counter-insurgency forces surrounded Awneera, a village about 50 kilometres (32

Published 14 Aug, 2017 12:00am

Fight against terrorism shall continue: CoAS

Fight against terrorism shall continue: CoAS

General Qamar Javed Bajwa, Chief of Army Staff (CoAS) visited Quetta on Sunday. CoAS attended Namaz-e-Janaza of soldiers who embraced Shahadat in blast last night. Governor Balochistan, CM Balochistan, Federal Minister of Interior, Lieutenant General Aami

Published 14 Aug, 2017 12:00am

Fight against terrorism shall continue: CoAS

Fight against terrorism shall continue: CoAS

General Qamar Javed Bajwa, Chief of Army Staff (CoAS) visited Quetta on Sunday. CoAS attended Namaz-e-Janaza of soldiers who embraced Shahadat in blast last night. Governor Balochistan, CM Balochistan, Federal Minister of Interior, Lieutenant General Aami

Published 14 Aug, 2017 12:00am

PTI's response to Nawaz's questions

Exchange

PTI's response to Nawaz's questions

Pakistan Tehreek-e-Insaf (PTI) on Sunday responded to the questions posed by the ousted Prime Minister Nawaz Sharif during his rally from Islamabad via Grand Trunk (GT) road pertaining to his disqualification by Supreme Court in Panama Papers case. Throug

Published 14 Aug, 2017 12:00am

PTI's response to Nawaz's questions

Exchange

PTI's response to Nawaz's questions

Pakistan Tehreek-e-Insaf (PTI) on Sunday responded to the questions posed by the ousted Prime Minister Nawaz Sharif during his rally from Islamabad via Grand Trunk (GT) road pertaining to his disqualification by Supreme Court in Panama Papers case. Throug

Published 14 Aug, 2017 12:00am

Bearish trend witnessed

Exchange

Bearish trend witnessed

Pakistan Stock Exchange (PSX) witnessed bearish trend during the outgoing week ended August 11, 2017. The prevailing political uncertainty in the country invited selling from both local and foreign investors and the market remained under pressure througho

Published 14 Aug, 2017 12:00am

Bearish trend witnessed

Exchange

Bearish trend witnessed

Pakistan Stock Exchange (PSX) witnessed bearish trend during the outgoing week ended August 11, 2017. The prevailing political uncertainty in the country invited selling from both local and foreign investors and the market remained under pressure througho

Published 14 Aug, 2017 12:00am

Bearish trend witnessed

Exchange

Bearish trend witnessed

Pakistan Stock Exchange (PSX) witnessed bearish trend during the outgoing week ended August 11, 2017. The prevailing political uncertainty in the country invited selling from both local and foreign investors and the market remained under pressure througho

Published 14 Aug, 2017 12:00am

Futures spread increased by 144 basis points

Futures spread increased by 144 basis points

The futures spread increased by 144bps to 7.11 percent on the last trading day of outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 26.5 percent to 49.47 million shares. Average daily trading valu

Published 14 Aug, 2017 12:00am

Futures spread increased by 144 basis points

Futures spread increased by 144 basis points

The futures spread increased by 144bps to 7.11 percent on the last trading day of outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 26.5 percent to 49.47 million shares. Average daily trading valu

Published 14 Aug, 2017 12:00am

Qatar rift: Arab bloc won't discriminate against US firms

Qatar rift: Arab bloc won't discriminate against US firms

Four Arab countries that imposed sanctions on Qatar have told the United States that US companies doing business with them would not be punished for also working with Doha, four sources with knowledge of the matter said. Foreign firms have become increasi

Published 14 Aug, 2017 12:00am

Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Monday (August 14) on account of Independence Day. Arrangements have, however, been made to bring out the newspaper and Internet edition tomorrow, Tuesday (August 15), as usual.

Published 14 Aug, 2017 12:00am

Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Monday (August 14) on account of Independence Day. Arrangements have, however, been made to bring out the newspaper and Internet edition tomorrow, Tuesday (August 15), as usual.

Published 14 Aug, 2017 12:00am

PIA hosts first-ever 'In-Flight Jam'

PIA hosts first-ever 'In-Flight Jam'

Pakistan International Airlines celebrated the 70 glorious years of Pakistan on Sunday, with PIA proudly hosting the first-ever "In-Flight Jam" featuring music sensation Momina Mustehsan. A soulful and spirited performance for Independence Day celebration

Published 14 Aug, 2017 12:00am

Kenya opposition leader defies pressure to concede defeat

Kenya opposition leader defies pressure to concede defeat

Kenyan opposition leader Raila Odinga on Sunday called for a strike to support his claim to the presidency and accused the ruling party of "spilling the blood of innocent people", despite growing pressure on him to concede election defeat. The election co

Published 14 Aug, 2017 12:00am

PM appoints five advisors: Sartaj made Deputy Chairman Planning Commission

PM appoints five advisors: Sartaj made Deputy Chairman Planning Commission

Prime Minister Shahid Khaqan Abbasi has appointed Lieutenant General Nasser Janjua (Retd) as National Security Adviser and Sartaj Aziz as deputy chairman of the Planning Commission, Aaj News reported on Sunday. Abbasi also appointed four other advisers. T

Published 14 Aug, 2017 12:00am

PM appoints five advisors: Sartaj made Deputy Chairman Planning Commission

PM appoints five advisors: Sartaj made Deputy Chairman Planning Commission

Prime Minister Shahid Khaqan Abbasi has appointed Lieutenant General Nasser Janjua (Retd) as National Security Adviser and Sartaj Aziz as deputy chairman of the Planning Commission, Aaj News reported on Sunday. Abbasi also appointed four other advisers. T

Published 14 Aug, 2017 12:00am

Boko Haram gunmen kill four in Nigeria village raid

Boko Haram gunmen kill four in Nigeria village raid

Boko Haram gunmen have killed four people and torched homes in a night-time raid on a village in restive north-eastern Nigeria, local sources said Sunday. The militants stormed Amarwa village, while lies about 20 kilometres (12 miles) from Maiduguri, the

Published 14 Aug, 2017 12:00am

Articles 62 and 63: Imran vows to block any 'conspiracy' to abolish

Articles 62 and 63: Imran vows to block any 'conspiracy' to abolish

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Sunday vowed to foil any conspiracy aimed at doing away with the Articles 62 and 63 of the Constitution. Addressing a mammoth rally in Liaquat Bagh in connection with the Independence Day celebrations

Published 14 Aug, 2017 12:00am

Independence Day

Independence Day

Today, Pakistan marks a special anniversary, its 71st Independence Day, in a very different shape than the one perceived by its founding father, Mohammad Ali Jinnah. His vision for a new Muslim homeland was that of a pluralistic society, equality for all,

Published 14 Aug, 2017 12:00am

Enters another 'Muslim League'

Enters another 'Muslim League'

A too-early to a brand-new organisation's electoral campaign would raise some eyebrows, particularly if the latest outfit is yet another Muslim League - "Milli Muslim League" in this case. But the MML, launched at a press conference in Islamabad last Mond

Published 14 Aug, 2017 12:00am

The 'Reverse March'

The 'Reverse March'

Nawaz Sharif's journey from Prime Minister's House Islamabad to Lahore after he was disqualified on 28 July by the Supreme Court on the Panama papers case labelled as the 'GT Road March', and facetiously being referred to as the 'Reverse March' (as it is

Published 14 Aug, 2017 12:00am

Companies Act, 2017 - foreign corporate shareholding in listed companies and disclosure of beneficial ownership: A case of over/imprudent regulation

Companies Act, 2017 - foreign corporate shareholding in listed companies and disclosure of beneficial ownership: A case of over/imprudent regulation

In this writer's earlier articles on Companies Act, 2017, he has applauded the constructive and timely action of the government in introducing the new corporate law. This legislation is closer to changed economic realities. He reiterates that it is a step

Published 14 Aug, 2017 12:00am

North Korea garment factories humming with...?

North Korea garment factories humming with...?

Chinese textile firms are increasingly using North Korean factories to take advantage of cheaper labour across the border, traders and businesses in the border city of Dandong told Reuters. The clothes made in North Korea are labelled "Made in China" and

Published 14 Aug, 2017 12:00am

Cost audit under the Companies Act, 2017 - II

Cost audit under the Companies Act, 2017 - II

It means that cost audit is no more mandatory unless directed by the commission subject to the recommendation of the regulatory authority supervising the business of relevant sector or any entity of the sector. There is also an element of ambiguity in the

Published 14 Aug, 2017 12:00am

CoAS hoists largest national flag at Wagah border

CoAS hoists largest national flag at Wagah border

Chief of Army Staff (CoAS) General Javed Qamar Bajwa hoisted the largest national flag in the history of Pakistan at Wagah Border on the eve of 70th Independence Day. The flag, made entirely in Pakistan, was hoisted on a 400-feet pole at midnight. The siz

Published 14 Aug, 2017 12:00am

Independence Day: Shahbaz urges people to demonstrate unity for country's progress

Independence Day: Shahbaz urges people to demonstrate unity for country's progress

Punjab Chief Minister Muhammad Shahbaz Sharif has congratulated the nation on the occasion of 70th Independence Day of the country. In a message, Punjab Chief Minister said that Pakistan is result of illustrious sacrifices and great struggles of millions

Published 14 Aug, 2017 12:00am

Shahbaz condemns Quetta attack

Shahbaz condemns Quetta attack

Punjab Chief Minister Shahbaz Sharif on Sunday has strongly condemned an attack on the vehicle of security forces near Pishin Stop, Quetta. He paid tributes to the citizens and martyred security personnel, also extended his condolences and sympathies to t

Published 14 Aug, 2017 12:00am

Role of youth in restoring peace highlighted

Role of youth in restoring peace highlighted

Speakers on Sunday urged the effective role of youth in peace building during a dialogue "Youth building Peace" organised in connection with International Youth Day 2017 by Inter University Consortium for Promotion of Social Sciences (IUCPSS) at Preston U

Published 14 Aug, 2017 12:00am

Ties with US are most important for Pakistan: Aizaz

Exchange

Ties with US are most important for Pakistan: Aizaz

Describing relationship with the United States as one of the most important for Pakistan, Ambassador Aizaz Chaudhry has expressed the hope that the long-standing partnership the two countries enjoy will be further cemented in the years to come. He was spe

Published 14 Aug, 2017 12:00am

National unity essential to uproot terrorism: Ahsan

National unity essential to uproot terrorism: Ahsan

Federal interior minister Ahsan Iqbal said on Sunday that national unity is a must to uproot terrorism from the country and nation can win this war through team work. "The Quetta terrorist attack reminds us that we are in a state of war, which requires in

Published 14 Aug, 2017 12:00am

PPP KP to celebrate Independence Day in befitting manner

PPP KP to celebrate Independence Day in befitting manner

PPP Khyber Pakhtunkhwa (KP) chapter has decided to celebrate the 70th Independence Day of Pakistan in a befitting manner and has directed all divisional presidents for organising Jashn-e-Azadi functions in their respective divisional headquarters. The pro

Published 14 Aug, 2017 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 25	281.17
USD PKR Interbank Buying / Apr 25	280.97
USD to Japanese Yen / Apr 25	143.67
USD to Swiss Franc / Apr 25	0.83
Pound Sterling to USD / Apr 25	1.33
Euro to USD / Apr 25	1.14
UK LIBOR % / Apr 24	4.96

Stock	Volume
S&P 500 / Apr 25	5,525.21
India Sensex / Apr 25	79,212.53
Tokyo Nikkei / Apr 25	35,705.74
Nasdaq / Apr 25	17,382.94
Hang Seng / Apr 25	21,980.74
FTSE 100 / Apr 25	8,415.25
Dow Jones / Apr 25	40,113.50
Germany DAX 30 / Apr 25	22,242.45
France CAC40 / Apr 25	7,536.26

Item	Value
Crude Oil USD/Barrel / Apr 25	63.17
Karachi Cotton PKR/37.32 KG / Apr 25	16,985
Gold 10 Grams PKR / Apr 25	298,950
Gold Spot USD/Ounce / Apr 25	3,327.60
Cotton US¢/pound / Apr 25	68.80
Petrol/Litre / Apr 27	254.63
Diesel/Litre / Apr 27	258.64

Gainers
Losers
Leaders

Stock	Price
First Capital Equities / Apr 25 First Capital Equities Limited(FCEL)	4.92 ▲ 0.96 (24.24%)
PICIC Ins.Ltd. / Apr 25 PICIC Insurance Limited(PIL)	3.14 ▲ 0.5 (18.94%)
Dewan Mushtaq / Apr 25 Dewan Mushtaq Textile Mills Limited(DMTM)	7.99 ▲ 1 (14.31%)
Pak. P.V.C. / Apr 25 Pakistan PVC Limited(PPVC)	8.26 ▲ 1 (13.77%)
J.K.Spinning / Apr 25 J.K. Spinning Mills Limited(JKSM)	61.90 ▲ 5.63 (10.01%)
At-Tahur Ltd. / Apr 25 At-Tahur Limited(PREMA)	86.74 ▲ 7.89 (10.01%)
Shezan Inter. / Apr 25 Shezan International Limited(SHEZ)	203.03 ▲ 18.46 (10%)
Sunrays Textile / Apr 25 Sunrays Textile Mills Limited(SUTM)	156.38 ▲ 14.22 (10%)
PIA Holding Co.B / Apr 25 PIA Holding Company Limited B(PIAHCLB)	3,282.29 ▲ 298.39 (10%)
S.S.Oil / Apr 25 S.S.Oil Mills Limited(SSOM)	357.05 ▲ 32.46 (10%)

Stock	Price
Engro Powergen / Apr 25 Engro Powergen Qadirpur Limited(EPQL)	28.71 ▼ -10.13 (-26.08%)
Ghani Chemworld / Apr 25 Ghani Chemworld Limited(GCWL)	8 ▼ -1 (-11.11%)
Samba Bank / Apr 25 Samba Bank Limited(SBL)	8.01 ▼ -0.99 (-11%)
Arpak Int. / Apr 25 Arpak International Investments Ltd.(ARPAK)	56.66 ▼ -6.29 (-9.99%)
Blue-Ex Ltd / Apr 25 Blue-Ex Limited (GEM)(GEMBLUEX)	47.38 ▼ -5.26 (-9.99%)
Saif Power Ltd. / Apr 25 Saif Power Limited(SPWL)	12.31 ▼ -1.3 (-9.55%)
Shaheen Ins. / Apr 25 Shaheen Insurance Company Limited(SHNI)	5.25 ▼ -0.46 (-8.06%)
Equity Modaraba / Apr 25 First Equity Modaraba(FEM)	2.75 ▼ -0.24 (-8.03%)
GlaxoSmithKline / Apr 25 GlaxoSmithKline Pakistan Limited(GLAXO)	409.57 ▼ -34.89 (-7.85%)
AKD Hospitality / Apr 25 AKD Hospitality Limited(AKDHL)	136.65 ▼ -10.81 (-7.33%)

Stock	Volume
WorldCall Telecom / Apr 25 Worldcall Telecom Limited(WTL)	22,789,497 ▼ -0.02
Power Cement / Apr 25 Power Cement Limited(POWER)	21,965,614 ▼ -0.17
Sui South Gas / Apr 25 Sui Southern Gas Company Limited(SSGC)	21,567,163 ▼ -0.56
B.O.Punjab / Apr 25 The Bank of Punjab(BOP)	19,825,526 ▼ -0.08
K-Electric Ltd. / Apr 25 K-Electric Limited(KEL)	17,030,953 ▼ -0.04
Aisha Steel Mill / Apr 25 Aisha Steel Mills Limited(ASL)	16,751,796 ▲ 0.59
Cnergyico PK / Apr 25 Cnergyico PK Limited(CNERGY)	16,717,262 ▼ -0.17
Pak Int.Bulk / Apr 25 Pakistan International Bulk Terminal(PIBTL)	16,382,803 ▲ 0.14
Sui North Gas / Apr 25 Sui Northern Gas Pipelines Limited(SNGP)	13,338,455 ▲ 0.33
Secure Logistics / Apr 25 Secure Logistics Group Limited(SLGL)	12,723,116 ▲ 1.13

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Pakistan misses wheat production target

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SBP injects massive Rs11.85 trillion into banking system for up to 14 days

Trade tensions to affect Pakistan more in region: IMF

Trade tensions to affect Pakistan more in region: IMF

Gwadar Port: SRO issued to allow potassium sulphate export

Gwadar Port: SRO issued to allow potassium sulphate export

‘Rs1.6trn to be saved’: NEPRA says to discontinue dollar-based indexations for four power plants

‘Rs1.6trn to be saved’: NEPRA says to discontinue dollar-based indexations for four power plants

Pakistan open to ‘neutral, transparent’ probe into Pahalgam attack: PM Shehbaz

Pakistan open to ‘neutral, transparent’ probe into Pahalgam attack: PM Shehbaz

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