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Print - 2017-08-31
SBI to provide facilities to investors

SBI to provide facilities to investors

The chairperson of the Sindh Board of Investment (SBI), Naheed Memon, has said that investors will be provided the necessary facilities and information through a one-window facility provided by the SBI's Business Facilitation Centre to simplify and develo
Published 31 Aug, 2017 12:00am
Government borrows Rs 507 billion through auction of MTBs

Government borrows Rs 507 billion through auction of MTBs

The federal government on Wednesday raised Rs 507 billion through auction of short-term government papers as against target of Rs 300 billion to meet its financial requirements. The State Bank of Pakistan (SBP), on August 30, 2017, conducted auction for t
Published 31 Aug, 2017 12:00am
Government borrows Rs 507 billion through auction of MTBs

Government borrows Rs 507 billion through auction of MTBs

The federal government on Wednesday raised Rs 507 billion through auction of short-term government papers as against target of Rs 300 billion to meet its financial requirements. The State Bank of Pakistan (SBP), on August 30, 2017, conducted auction for t
Published 31 Aug, 2017 12:00am
Need to improve quality of dates stressed
Exchange

Need to improve quality of dates stressed

Speakers at 'Pakistan Date Show and Seminar' underscored the need for improvement in the quality of dates production in Sindh and Baluchistan provinces by using latest technology and development of processing plants. The event was organized by Trade Devel
Published 31 Aug, 2017 12:00am
Sale of garments remains sluggish on the eve of Eid

Sale of garments remains sluggish on the eve of Eid

Shopping malls in Karachi suffered poor sales of garments ahead of Eid-ul-Azha, causing immense frustration among the shop owners. The extraordinarily high prices of sacrificial animals and of essential items have compelled many families to stay away from
Published 31 Aug, 2017 12:00am
UBL, China Overseas Port Holding sign MoU

UBL, China Overseas Port Holding sign MoU

UBL, Pakistan's Best Bank 2016, and China Overseas Port Holding Company (COPHC), recently entered into an MoU for "Framework of Cooperation" to promote economic development of Gwadar and its free economic zones. The two institutions have mutually agreed t
Published 31 Aug, 2017 12:00am
BIEK announces HSC (Part-II) Science exams results

BIEK announces HSC (Part-II) Science exams results

The Board of Intermediate Education Karachi (BIEK) on Wednesday announced the results of the intermediate science pre-medical group (Part-II) for the annual examinations 2017. Muhammad Hassan Ahsan of Adamjee of Government Science College secured first po
Published 31 Aug, 2017 12:00am
Indonesian CG for improving bilateral trade with Pakistan

Indonesian CG for improving bilateral trade with Pakistan

Consul General of Indonesian, Dempo Awang Yuddie has said that Indonesia is taking measures to further improve bilateral trade relation with Pakistan. Speaking at meeting with Korangi Association of Trade and Industry (KATI), he said there are great many
Published 31 Aug, 2017 12:00am
Durrani inaugurates exhibition

Durrani inaugurates exhibition

The Acting Governor Sindh, Agha Siraj Durrani on Wednesday inaugurated a 15-day art exhibition at the National Museum of Pakistan, Karachi. The exhibits depicted the culture of the province of Sindh and put on display photographs of the Bhutto family.
Published 31 Aug, 2017 12:00am
Sales Tax: EFP obtains stay order for manpower service providers

Sales Tax: EFP obtains stay order for manpower service providers

The High Courts of Sindh and Lahore have granted stay order to 41 companies of Sindh and 3 companies of Punjab in the matter of Sales Tax on Manpower Service Providers. Under promulgation of Sindh Sales Tax on Services Act 2011, a Sales Tax on services wa
Published 31 Aug, 2017 12:00am
Orientation programme for new batch of students held at IoBM

Orientation programme for new batch of students held at IoBM

The Institute of Business Management (IoBM) organized its Orientation Programme for newly inducted batch of students for Fall Semester 2017 on August 26, at the Shahjehan Syed Karim Centre of Excellence. This event was largely attended by IoBM Board of Go
Published 31 Aug, 2017 12:00am
PAT of Hascol increases to Rs 790.06 million
Exchange

PAT of Hascol increases to Rs 790.06 million

The profit after tax of Hascol Petroleum Limited has increased to Rs 790.607 million in the six month period ended June 30, 2017 as compared to Rs 612.027 million earned in the corresponding period in 2016. The company's earning per share increased to Rs
Published 31 Aug, 2017 12:00am
PAT of Hascol increases to Rs 790.06 million
Exchange

PAT of Hascol increases to Rs 790.06 million

The profit after tax of Hascol Petroleum Limited has increased to Rs 790.607 million in the six month period ended June 30, 2017 as compared to Rs 612.027 million earned in the corresponding period in 2016. The company's earning per share increased to Rs
Published 31 Aug, 2017 12:00am
JI chief accuses NAB of promoting corruption

JI chief accuses NAB of promoting corruption

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has counselled the NAB to stop its business if it could not punish the corrupt people. While talking to different delegations at Mansoora on Wednesday, he said that NAB had major role in the promotion of corr
Published 31 Aug, 2017 12:00am
Bugti murder case: BHC dismisses plea challenging Musharraf's acquittal

Bugti murder case: BHC dismisses plea challenging Musharraf's acquittal

The Balochistan High Court (BHC) on Wednesday dismissed an application challenging the acquittal of former president General Pervez Musharraf (retd) and others in the Nawab Akbar Khan Bugti murder case. The application had been filed by the Baloch nationa
Published 31 Aug, 2017 12:00am
PPP jettisons 'controversial' census figures

PPP jettisons 'controversial' census figures

Pakistan people's Party (PPP) Sindh chapter General Secretary Waqar Mehdi on Wednesday said that Census Bureau has made the Census a controversial exercise with the initial census results it has recently announced. In press statement released from PPP med
Published 31 Aug, 2017 12:00am
Al Baraka Bank issue Rs 1,500 million Tier-II sukuk

Al Baraka Bank issue Rs 1,500 million Tier-II sukuk

Al Baraka Bank Pakistan Limited (ABPL) announced the successful issuance of its 'A' Rated, Unsecured, Subordinated and Privately Placed Tier-II Modaraba Sukuk. The Rs 1,500 million Sukuk issue was subscribed by a diversified investor base which included I
Published 31 Aug, 2017 12:00am
Al Baraka Bank issue Rs 1,500 million Tier-II sukuk

Al Baraka Bank issue Rs 1,500 million Tier-II sukuk

Al Baraka Bank Pakistan Limited (ABPL) announced the successful issuance of its 'A' Rated, Unsecured, Subordinated and Privately Placed Tier-II Modaraba Sukuk. The Rs 1,500 million Sukuk issue was subscribed by a diversified investor base which included I
Published 31 Aug, 2017 12:00am
Transgender shot dead

Transgender shot dead

Unidentified men shot dead a transgender in Defence Housing Authority (DHA) during the wee hours of Wednesday, the police said. Station House Officer (SHO) at Darakhshan Police Station Orangzaib told Business Recorder that the rare fatal attack on
Published 31 Aug, 2017 12:00am
NA-120 by-poll: PAT challenges acceptance of Kulsoom's papers

NA-120 by-poll: PAT challenges acceptance of Kulsoom's papers

Pakistan Awami Tehreek (PAT) also filed a petition against the acceptance of nomination papers of Kalsoom Nawaz for NA-120 by-poll. PAT's leader Ishtiaq Ahmad Chaudhry advocate alleged in his petition that Kalsoom Nawaz was booked in an FIR on treason cha
Published 31 Aug, 2017 12:00am
Rain brings prices of sacrificial animals down

Rain brings prices of sacrificial animals down

A recent wet spell and forecast of more rains have rendered dual benefit to the citizen of provincial metropolis - respite from the hot and humid weather and decrease in rates of sacrificial animals. As Eid-ul-Azha is approaching fast, the rush of potenti
Published 31 Aug, 2017 12:00am
Much-delayed Kachhi Canal's commissioning today
Exchange

Much-delayed Kachhi Canal's commissioning today

The long delayed 363km long Kachhi irrigation canal constructed at a cost of Rs 80.5 billion in 15 years, is being commissioned today to supply irrigation water to over 0.7 million virgin lands in Dera Bugti, Naseerababd, Bolan and Jhal Magti districts of
Published 31 Aug, 2017 12:00am
CM's Model Town camp office denotified

CM's Model Town camp office denotified

In pursuance of a directive issued from the Punjab Chief Minister's Office, the Provincial Services and General Administration Department has de-notified the "180-H Model Town, Lahore" as "Chief Minister's Camp Office" with immediate effect. The notificat
Published 31 Aug, 2017 12:00am
JuD chief challenges detention in LHC

JuD chief challenges detention in LHC

Jamat-ud-Dawa Chief Hafiz Saeed along with his four aides here on Wednesday approached the Lahore High Court against their new detention order. Hafiz Saeed and his four aides Abdullah Ubaid, Malik Zafar Iqbal Shahbaz, Abdur Rehman and Qazi Kashif Hussain
Published 31 Aug, 2017 12:00am
Financial records: ECP bars MQM-P, PML-F, others from contesting polls

Financial records: ECP bars MQM-P, PML-F, others from contesting polls

Election Commission of Pakistan (ECP) has barred a few mainstream political parties from contesting elections after their failure to submit financial record on time. Muttahida Qaumi Movement Pakistan, Pakistan Muslim League-Functional (PML-F), PML-Zia, PM
Published 31 Aug, 2017 12:00am
PIA flights delayed amid inclement weather

PIA flights delayed amid inclement weather

Due to unfavourable weather, PIA's flight operation remained disturbed on Wednesday. However, because of pro-active planning, there was no diversion and only one flight was cancelled but some were delayed. The cancelled flight was Karachi-Sukkur-Karachi.
Published 31 Aug, 2017 12:00am
Deadlock over NCHD employees' salaries irks Senate body

Deadlock over NCHD employees' salaries irks Senate body

Expressing serious anger over failure of Ministry of Finance in releasing salaries to employees of National Commission for Human Development (NCHD) before Eid-ul-Azha, a special parliamentary panel on Wednesday said that bureaucracy is deliberately ignori
Published 31 Aug, 2017 12:00am
Motorist killed, another injured

Motorist killed, another injured

The city police on Wednesday shot dead a motorist and injured another one after their failure to stop at a checkpoint in Rawal Town. A police official said that two persons were traveling in a car bearing registration number AB-6867 when police personnel
Published 31 Aug, 2017 12:00am
AFA voices concerns over Basit-Aizaz row

AFA voices concerns over Basit-Aizaz row

The Association of Former Ambassadors has expressed regret over unfortunate episode relating to a letter attributed to Pakistan's former High Commissioner to India Abdul Basit, in which he has criticized Pakistan's current Ambassador to the United States
Published 31 Aug, 2017 12:00am
The Weather

The Weather

The weather report on Wednesday (August 30, 2017) and the forecast for Thursday (August 31, 2017).

Published 31 Aug, 2017 12:00am
SCB declares profit before tax of Rs 8.6 billion in H1

SCB declares profit before tax of Rs 8.6 billion in H1

Standard Chartered Bank (Pakistan) Limited has declared a profit before tax of Rs 8.6 billion in H1 2017. Revenue was lower by Rs 1.6 billion primarily due to reduced margins and re-pricing within the investments portfolio. However, underlying client inco
Published 31 Aug, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
SCB declares profit before tax of Rs 8.6 billion in H1

SCB declares profit before tax of Rs 8.6 billion in H1

Standard Chartered Bank (Pakistan) Limited has declared a profit before tax of Rs 8.6 billion in H1 2017. Revenue was lower by Rs 1.6 billion primarily due to reduced margins and re-pricing within the investments portfolio. However, underlying client inco
Published 31 Aug, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
Silkbank earns Rs 342.4 million profit after tax

Silkbank earns Rs 342.4 million profit after tax

Silkbank continued to reflect a robust earnings trajectory in Q2, outpacing Q1 by a massive 152 percent. Second quarter profit after tax stood at Rs 342.4 million. Net mark-up income after provisions for six months, increased from Rs 1,837 million to Rs 2
Published 31 Aug, 2017 12:00am
Silkbank earns Rs 342.4 million profit after tax

Silkbank earns Rs 342.4 million profit after tax

Silkbank continued to reflect a robust earnings trajectory in Q2, outpacing Q1 by a massive 152 percent. Second quarter profit after tax stood at Rs 342.4 million. Net mark-up income after provisions for six months, increased from Rs 1,837 million to Rs 2
Published 31 Aug, 2017 12:00am
CoAS to address seminar today

CoAS to address seminar today

Army Chief General Qamar Javed Bajwa will address a seminar Thursday on "Interplay of Economy and Security" in city's local hotel. According to ISPR, by efforts of Pakistan Army, peace along with healthy economic activities has been restored in Karachi. F
Published 31 Aug, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
LNG need of the hour

LNG need of the hour

Pakistan is facing gas shortage of over 2.5 billion cubic feet and many industries depend on gas for production activities not to mention the consumption in the domestic sector. A quick solution to curb the gas crisis, Pakistan turned to LNG to fulfil its
Published 31 Aug, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (August 30, 2017)

Published 31 Aug, 2017 12:00am
Management versus politics
Cotton

Management versus politics

Politics is the 'death knell' of good management. Good corporate management is about following defined procedures in all realms - finance, accounting, human resource, marketing, etc. Politics is about 'populism' at the cost of all good procedures. Good ma
Published 31 Aug, 2017 12:00am
Our Augean stables must be cleaned up
Exchange

Our Augean stables must be cleaned up

PPP co-Chairman Asif Ali Zardari has been celebrating his acquittal by a NAB court in the last and final of six corruption references against him, as a newspaper report put it, thanks to a 'friendly' and 'weak' prosecution. Interestingly, however, like th
Published 31 Aug, 2017 12:00am
Manifesto that won't get you votes

Manifesto that won't get you votes

Good governance, the rallying cry of digital warriors, is predicated upon the elected party's programme. Democracy requires us to vote on choices offered by competing manifestos. Parliamentary accountability demands adherence to the promises made to the e
Published 31 Aug, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
The rain challenge

The rain challenge

That a picture is worth a thousand words is a strong reality: a newspaper photograph, for example, shows stranded Indian citizens wading through waist-deep water in Mumbai where the downpour floods several parts of the city of nearly 20 million people, ca
Published 31 Aug, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
Credit scheme for women

Credit scheme for women

In order to facilitate women entrepreneurs operating in the underserved areas of the country, the State Bank has launched a refinance and credit guarantee scheme for women borrowers. According to this scheme, financing of up to Rs 1.5 million would be pro
Published 31 Aug, 2017 12:00am
Pentagon acknowledges about 11,000 US troops in Afghanistan

Pentagon acknowledges about 11,000 US troops in Afghanistan

The Pentagon sharply raised its estimate of the number of US troops currently in Afghanistan Wednesday, ahead of a decision on adding thousands more under President Donald Trump's new strategy for the war-ridden country. Pentagon Joint Staff Director Lieu
Published 31 Aug, 2017 12:00am
Pentagon acknowledges about 11,000 US troops in Afghanistan

Pentagon acknowledges about 11,000 US troops in Afghanistan

The Pentagon sharply raised its estimate of the number of US troops currently in Afghanistan Wednesday, ahead of a decision on adding thousands more under President Donald Trump's new strategy for the war-ridden country. Pentagon Joint Staff Director Lieu
Published 31 Aug, 2017 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee sustained appreciation against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee maintained its rising trend in relation to the dollar, picking up four paisas for buying and selling at Rs 105.28 and R
Published 31 Aug, 2017 12:00am
Trump may be inciting 'violence' against media: UN

Trump may be inciting 'violence' against media: UN

The UN human rights chief said Wednesday that President Donald Trump's relentless attacks on the media could trigger violence against journalists, suggesting the US leader would be responsible. In a broad condemnation of Trump's conduct in office, Zeid Ra
Published 31 Aug, 2017 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee sustained appreciation against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee maintained its rising trend in relation to the dollar, picking up four paisas for buying and selling at Rs 105.28 and R
Published 31 Aug, 2017 12:00am
Trump may be inciting 'violence' against media: UN

Trump may be inciting 'violence' against media: UN

The UN human rights chief said Wednesday that President Donald Trump's relentless attacks on the media could trigger violence against journalists, suggesting the US leader would be responsible. In a broad condemnation of Trump's conduct in office, Zeid Ra
Published 31 Aug, 2017 12:00am
Outreach of microfinance continues to grow

Outreach of microfinance continues to grow

The outreach of microfinance continued to grow at a double-digit rate during 2016 with notable expansion in deposit base, as gross-loan portfolio witnessed a staggering growth of 47 percent and crossed Rs 100 billion mark during this period. This is the c
Published 31 Aug, 2017 12:00am
Outreach of microfinance continues to grow

Outreach of microfinance continues to grow

The outreach of microfinance continued to grow at a double-digit rate during 2016 with notable expansion in deposit base, as gross-loan portfolio witnessed a staggering growth of 47 percent and crossed Rs 100 billion mark during this period. This is the c
Published 31 Aug, 2017 12:00am
Outreach of microfinance continues to grow

Outreach of microfinance continues to grow

The outreach of microfinance continued to grow at a double-digit rate during 2016 with notable expansion in deposit base, as gross-loan portfolio witnessed a staggering growth of 47 percent and crossed Rs 100 billion mark during this period. This is the c
Published 31 Aug, 2017 12:00am
OGRA recommends increase in POL prices for September

OGRA recommends increase in POL prices for September

Oil and Gas Regulatory Authority (OGRA) has recommended the government to increase petroleum prices for September. The OGRA recommended the government on Wednesday to increase the prices of motor gasoline (petrol) and high speed diesel (HSD) by Rs 2.24 an
Published 31 Aug, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (August 30, 2017).

Published 31 Aug, 2017 12:00am
OGRA recommends increase in POL prices for September

OGRA recommends increase in POL prices for September

Oil and Gas Regulatory Authority (OGRA) has recommended the government to increase petroleum prices for September. The OGRA recommended the government on Wednesday to increase the prices of motor gasoline (petrol) and high speed diesel (HSD) by Rs 2.24 an
Published 31 Aug, 2017 12:00am
OGRA recommends increase in POL prices for September

OGRA recommends increase in POL prices for September

Oil and Gas Regulatory Authority (OGRA) has recommended the government to increase petroleum prices for September. The OGRA recommended the government on Wednesday to increase the prices of motor gasoline (petrol) and high speed diesel (HSD) by Rs 2.24 an
Published 31 Aug, 2017 12:00am
China says it hopes India will 'learn lessons' from standoff

China says it hopes India will 'learn lessons' from standoff

China said Wednesday it hopes India will "learn lessons" following the end of a months-long military stand-off in a strategically important disputed area in the Himalayas. The two nations resolved the deadlock over the Doklam area claimed by both China an
Published 31 Aug, 2017 12:00am
Sell-off plan remains stalled

Sell-off plan remains stalled

The government''s privatization programme remains stalled and the newly created Ministry of Privatization has been without a minister and permanent federal secretary subsequent to the elevation of former Chairman Privatization Commission Mohammad Zubair a
Published 31 Aug, 2017 12:00am
Sell-off plan remains stalled

Sell-off plan remains stalled

The government's privatization programme remains stalled and the newly created Ministry of Privatization has been without a minister and permanent federal secretary subsequent to the elevation of former Chairman Privatization Commission Mohammad Zubair as
Published 31 Aug, 2017 12:00am
Sell-off plan remains stalled

Sell-off plan remains stalled

The government's privatization programme remains stalled and the newly created Ministry of Privatization has been without a minister and permanent federal secretary subsequent to the elevation of former Chairman Privatization Commission Mohammad Zubair as
Published 31 Aug, 2017 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 31 Aug, 2017 12:00am
Issue of missing persons Senate chairman lectures parliament, judiciary

Issue of missing persons Senate chairman lectures parliament, judiciary

Chairman Senate Raza Rabbani Wednesday said that both the parliament and judiciary failed to do anything substantive as far as the lingering issue of enforced disappearances is concerned. These remarks by the Senate chairman came when Senator Farhatullah
Published 31 Aug, 2017 12:00am
Issue of missing persons Senate chairman lectures parliament, judiciary

Issue of missing persons Senate chairman lectures parliament, judiciary

Chairman Senate Raza Rabbani Wednesday said that both the parliament and judiciary failed to do anything substantive as far as the lingering issue of enforced disappearances is concerned. These remarks by the Senate chairman came when Senator Farhatullah
Published 31 Aug, 2017 12:00am
NSC decides to keep robust defence posture

NSC decides to keep robust defence posture

Prime Minister Shahid Khaqan Abbasi chaired the 13th meeting of National Security Committee (NSC) here at the Prime Minister House on Wednesday. The committee reviewed the internal and external security situation and threats and challenges to national sec
Published 31 Aug, 2017 12:00am
NSC decides to keep robust defence posture

NSC decides to keep robust defence posture

Prime Minister Shahid Khaqan Abbasi chaired the 13th meeting of National Security Committee (NSC) here at the Prime Minister House on Wednesday. The committee reviewed the internal and external security situation and threats and challenges to national sec
Published 31 Aug, 2017 12:00am
Senate for 'regional diplomatic offensive'

Senate for 'regional diplomatic offensive'

The Senate on Wednesday unanimously adopted a report of Senate Committee of the Whole, recommending the government to launch a regional diplomatic offensive to respond to the US President Donald Trump's new Afghan policy, which takes a dim view of Pakista
Published 31 Aug, 2017 12:00am
Senate for 'regional diplomatic offensive'

Senate for 'regional diplomatic offensive'

The Senate on Wednesday unanimously adopted a report of Senate Committee of the Whole, recommending the government to launch a regional diplomatic offensive to respond to the US President Donald Trump's new Afghan policy, which takes a dim view of Pakista
Published 31 Aug, 2017 12:00am
NA condemns Trump's 'hostile, threatening' statements

NA condemns Trump's 'hostile, threatening' statements

National Assembly on Wednesday through a unanimous resolution rejected 'hostile and threatening' statements made by US President Donald Trump and General John W Nicholson against Pakistan. Foreign Minister Khawaja Muhammad Asif moved the resolution in the
Published 31 Aug, 2017 12:00am
NA condemns Trump's 'hostile, threatening' statements

NA condemns Trump's 'hostile, threatening' statements

National Assembly on Wednesday through a unanimous resolution rejected 'hostile and threatening' statements made by US President Donald Trump and General John W Nicholson against Pakistan. Foreign Minister Khawaja Muhammad Asif moved the resolution in the
Published 31 Aug, 2017 12:00am
Government concerned at financial implications

Government concerned at financial implications

The federal cabinet in its 22 August meeting chaired by Prime Minister Shahid Khaqan Abbasi, while identifying the possible implications of the South Asia Policy announced by US President Donald Trump, expressed extreme reservations over the significant f
Published 31 Aug, 2017 12:00am