News Archives for Print - 2017-10-05 - Business Recorder

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Print - 2017-10-05

Cotton futures hit three-week peak on short-covering, weather concerns

Cotton

Cotton futures hit three-week peak on short-covering, weather concerns

ICE cotton futures on Wednesday climbed nearly 2 percent and hit a three-week high as investors covered short positions on concerns that severe weather could threaten the crop and disrupt the ongoing harvest in the United States. Cotton contracts for Dece

Published 05 Oct, 2017 12:00am

Tight supplies propel zinc prices to highest since 2007

Exchange

Tight supplies propel zinc prices to highest since 2007

Zinc prices hit their highest in more than 10 years on Wednesday as tight supplies created by mine closures and healthy demand from top consumer China boosted the market. Benchmark zinc on the London Metal Exchange ended up 1.2 percent higher at $3,302 a

Published 05 Oct, 2017 12:00am

Oil slips after surprising increase in US crude exports

Oil slips after surprising increase in US crude exports

Oil prices fell on Wednesday after a surprising jump in US crude exports to a record 2 million barrels per day fanned worries about global oversupply. US crude stockpiles fell sharply last week, but crude exports rose to 1.98 million bpd, the Energy Infor

Published 05 Oct, 2017 12:00am

Rubber gains

Exchange

Rubber gains

Benchmark Tokyo rubber futures extended gains into a third day on Wednesday to hit a 1-week high, backed by firmer Japanese equities and a brightening economic outlook for China, the world's biggest rubber buyer. The Tokyo Commodity Exchange (TOCOM) rubbe

Published 05 Oct, 2017 12:00am

Rotterdam vegetable oil prices

Vegetable Oil

Rotterdam vegetable oil prices

The following were Wednesday's Rotterdam vegetable oil prices at 1600 GMT:

Published 05 Oct, 2017 12:00am

Rotterdam vegetable oil prices

Vegetable Oil

Rotterdam vegetable oil prices

The following were Wednesday's Rotterdam vegetable oil prices at 1600 GMT:

Published 05 Oct, 2017 12:00am

Palm oil hits one-week high on technical buying

Vegetable Oil

Palm oil hits one-week high on technical buying

Malaysian palm oil futures hit one-week highs on Wednesday, supported by technical buying and expectations of a slight rise in end-September inventory levels. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange

Published 05 Oct, 2017 12:00am

White sugar futures jump, arabica coffee pares losses

White sugar futures jump, arabica coffee pares losses

White sugar futures jumped to a two-week high on Wednesday, as potentially tight short-term supply spurred short-covering and briefly lifted the December contract to a premium over March for the first time in six months. Arabica coffee pared losses after

Published 05 Oct, 2017 12:00am

Gold turns up in New York

Gold turns up in New York

Gold on Tuesday rose above a seven-week low as the US dollar came off its highs. Bullion was pressured earlier by strong US economic data that reinforced expectations of another US interest rate increase this year and pushed the dollar and US bond yields

Published 05 Oct, 2017 12:00am

Gold moves higher in Asia

Gold moves higher in Asia

Gold prices rose on Wednesday after marking a 7-week low in the previous session, buoyed as the dollar pulled back from a 1-1/2-month high against a basket of currencies. Spot gold had risen 0.3 percent to $1,275.91 an ounce by 0648 GMT. It touched its lo

Published 05 Oct, 2017 12:00am

Gold rises in Europe

Currency

Gold rises in Europe

Gold rose on Wednesday after marking a seven-week low the previous session, as the dollar dipped on talk that a dovish Federal Reserve chair would be appointed next year. The greenback eased against a currency basket after a Politico report said Fed Gover

Published 05 Oct, 2017 12:00am

US MIDDAY: soya rises

US MIDDAY: soya rises

US soyabean futures rose on Wednesday, reflecting a slowdown in the Midwest harvest as rains stalled fieldwork and weak cash values discouraged farmer selling, analysts said. Wheat futures fell on technical selling and a lack of supportive news. Corn was

Published 05 Oct, 2017 12:00am

US MIDDAY: gold pares gains

Currency

US MIDDAY: gold pares gains

Gold pared gains on Wednesday as the US dollar came off its lows on strong data from the US service sector index. Having touched its lowest since mid-August on Tuesday, spot gold was up 0.2 percent at $1,274.41 per ounce by 2:25 p.m. EDT (1825 GMT). Earli

Published 05 Oct, 2017 12:00am

Sufi elected Pakistan Soap Manufacturers Association chairman

Sufi elected Pakistan Soap Manufacturers Association chairman

Tanvir Ahmed Sufi has been elected unopposed Chairman Pakistan Soap Manufacturers Association. Member FBR Customs, Zubair Khokhar and business dignitaries were also present. Speaking on the occasion Tanvir Ahmed Sufi stressed the need for simplification o

Published 05 Oct, 2017 12:00am

Government plans to borrow Rs 3.8 trillion in Q2 fiscal year 2018

Government plans to borrow Rs 3.8 trillion in Q2 fiscal year 2018

The federal government has planned to borrow some Rs 3.8 trillion from the banking sector during the second quarter (Oct-Dec) of current fiscal year 2017-18. Sources in banking industry said lower revenue collection and rising expenditures have compelled

Published 05 Oct, 2017 12:00am

NBP to have its branch in China by next year: Senate panel told

NBP to have its branch in China by next year: Senate panel told

Pakistan will be able to open National Bank of Pakistan (NBP) branch in China by next year after getting the license amid concerns by the bank management that pension case judgment may jeopardize it. While briefing to the meeting of Senate Standing Commit

Published 05 Oct, 2017 12:00am

Pakistan Services Limited

Mutual Funds

Pakistan Services Limited

Pakistan Services Limited primarily operates in the hotel business. The company owns and runs the Pearl Continental (PC) Hotels chain in Pakistan. The PC hotel chain is currently operating in six cities: Karachi, Lahore, Rawalpindi, Bhurban, Peshawar and

Published 05 Oct, 2017 12:00am

Pakistan Services Limited

Mutual Funds

Pakistan Services Limited

Pakistan Services Limited primarily operates in the hotel business. The company owns and runs the Pearl Continental (PC) Hotels chain in Pakistan. The PC hotel chain is currently operating in six cities: Karachi, Lahore, Rawalpindi, Bhurban, Peshawar and

Published 05 Oct, 2017 12:00am

HHRD to set up rehabilitation centre, neuro hospital in Karachi

HHRD to set up rehabilitation centre, neuro hospital in Karachi

A US-based Islamic charitable organization, Helping Hand for Relief and Development (HHRD) has announced establishment of a comprehensive rehabilitation centre and neurological diseases hospital in Karachi at the cost of Rs 1 billion, saying it would a gi

Published 05 Oct, 2017 12:00am

Opportunities for Pakistani Kinnow exports in Indonesia

Opportunities for Pakistani Kinnow exports in Indonesia

As a result of prolonged discussions at highest level and in an effort to increase Pakistan's exports, Indonesia has agreed to allow export of Pakistani Kinnow starting from December till April. Previously it was allowed for only January - April. Permissi

Published 05 Oct, 2017 12:00am

Missing KU professor reaches home

Missing KU professor reaches home

University of Karachi Professor Dr Muhammad Ismail, who was earlier reported missing, reached home safely on Wednesday. Dr Ismail, who teaches at the department of Islamic Studies (Usool-ud-Din), went missing on September 15, according to his family. The

Published 05 Oct, 2017 12:00am

Heatwave forecast for Karachi

Heatwave forecast for Karachi

The Met Office on Wednesday forecast heat waves for Karachi with a maximum temperature scaling up to 37 degrees Celsius with warmer weather conditions on Thursday and Friday. Humidity level is likely to reach 85 percent, it warned, saying that the city's

Published 05 Oct, 2017 12:00am

POL discovers oil, gas in Attock

Exchange

POL discovers oil, gas in Attock

Pakistan Oilfields Limited (POL) has made a significant oil and gas discovery in its Ikhlas Block, located in northern Potward, Attock District. According to POL material information sent to Pakistan Stock Exchange on Wednesday, the block is located in a

Published 05 Oct, 2017 12:00am

PSO to supply 30 million litres of HSD to OGDCL annually: agreement inked

PSO to supply 30 million litres of HSD to OGDCL annually: agreement inked

The Oil and Gas Development Company Limited (OGDCL) being the largest Exploration & Production Company of Pakistan in public sector has inked an agreement with Pakistan State Oil (PSO) for supply of 25 to 30 million litres annually High Speed Diesel (HSD)

Published 05 Oct, 2017 12:00am

Rafique Suleman takes charge of REAP's senior vice chairman

Exchange

Rafique Suleman takes charge of REAP's senior vice chairman

Rafique Suleman has taken charge as Senior Vice Chairman of Rice Exporters Association of Pakistan (REAP) for 2017-18. Annual elections of REAP were held in North and South Zones simultaneously. In South Zone, all the (5) candidates for the Managing Commi

Published 05 Oct, 2017 12:00am

Tetra Pak acquires Big Drum Engineering GmbH

Tetra Pak acquires Big Drum Engineering GmbH

Tetra Pak has strengthened its product offering for ice cream manufacturers with the acquisition of Big Drum Engineering GmbH, a leading supplier of filling machines for the industry. The deal further extends the company's ability to provide end-to-end so

Published 05 Oct, 2017 12:00am

Habib Metro Modaraba listed on PSX: trading to begin tomorrow

Exchange

Habib Metro Modaraba listed on PSX: trading to begin tomorrow

Pakistan Stock Exchange (PSX) has approved the application for formal listing and quotation of certificates of Habib Metro Modaraba on completion of relevant requirements under the Listing of Companies and Securities Regulations of the Exchange. The PSX W

Published 05 Oct, 2017 12:00am

WWF-Pakistan seeks MSC certification for fisheries

WWF-Pakistan seeks MSC certification for fisheries

The WWF-Pakistan has sought the Marine Stewardship Council Certification (MSC) for key commercial fisheries especially yellow fin tuna for their high-priced export to the global markets. Fisheries that meet the MSC certification criterion include yellow f

Published 05 Oct, 2017 12:00am

Bijarani discusses Ghotki-Ghouspur bridge

Bijarani discusses Ghotki-Ghouspur bridge

Sindh's minister of planning and development, Mir Hazar Khan Bijarani, has said that the Ghotki-Ghouspur Bridge will be designed keeping in view frequent floods, weather conditions and environmental changes of the region and special care will be taken for

Published 05 Oct, 2017 12:00am

Dr Aslam elected PPA Chairman

Dr Aslam elected PPA Chairman

Dr Muhammad Aslam has been elected as Central Chairman Pakistan Poultry Association (PPA) while Dr Arshad Hanif Chaudhry and Ch Muhammad Ashraf have been chosen as Chairman PPA (Northern Zone) and PPA (South Zone) respectively. According to an announced m

Published 05 Oct, 2017 12:00am

JUI-S to support PTI candidate in NA-4 by-poll

JUI-S to support PTI candidate in NA-4 by-poll

Jamiat-e-Ulema Islam-Samiul Haq group (JUI-S) has announced its support for the ruling Pakistan Tehreek-i-Insaf candidate for the by-election in constituency NA-4, Peshawar IV. The by-poll is scheduled to be held on October 26. JUI-S Central Secretary Inf

Published 05 Oct, 2017 12:00am

Three alleged target killers arrested

Three alleged target killers arrested

Rangers Sindh on Wednesday claimed to have arrested three accused involved in killing of an MQM Pakistan's Union Council (UC) Vice Chairman. A paramilitary spokesman in a detailed statement said an intelligence-driven raid was conducted at Shah Faisal Col

Published 05 Oct, 2017 12:00am

TCAS developed to avoid train mishaps at level crossings

TCAS developed to avoid train mishaps at level crossings

Pakistan Railways has devised indigenous information technology solution for avoiding train accidents under which the train approaching warning system at level crossings has been finalized and five prototypes will be installed by end-2017 to check the new

Published 05 Oct, 2017 12:00am

Parliamentary panel lauds PCB

Parliamentary panel lauds PCB

A parliamentary panel on Wednesday appreciated Pakistan Cricket Board (PCB) for organising cricket matches at the level of World XI which has opened the doors for the revival of cricket and other sports activities in Pakistan. A meeting of the Standing Co

Published 05 Oct, 2017 12:00am

Three hardcore terrorists executed in KP jail

Three hardcore terrorists executed in KP jail

Three hardcore terrorists, involved in heinous offences relating to terrorism were executed at a jail in Khyber Pakhtunkhwa (KP) on Wednesday. According to a statement issued here by Inter-Service Public Relations (ISPR), the terrorists were involved in a

Published 05 Oct, 2017 12:00am

Delay in Fata reforms: PTI activists announce 'long march' to Islamabad

Delay in Fata reforms: PTI activists announce 'long march' to Islamabad

Activists of Pakistan Tehreek-i-Insaf (PTI) from tehsil Bara Khyber Agency have announced to hold a long-march from Peshawar to Islamabad on October 7, against delay in the implementation of reforms in Federally Administered Tribal Areas. The PTI activist

Published 05 Oct, 2017 12:00am

Assets and liabilities: 660 parliamentarians submit yearly statements: ECP

Assets and liabilities: 660 parliamentarians submit yearly statements: ECP

Election Commission of Pakistan (ECP) Wednesday said that 660 parliamentarians have so far submitted their yearly statements of assets and liabilities of their own, spouses and dependents with the Commission. According to the ECP, the membership of the pa

Published 05 Oct, 2017 12:00am

'Metro Train manufactured as per international standard'

'Metro Train manufactured as per international standard'

The new set of trains for the Lahore Orange Line Metro Train is manufactured as per international standard and it will provide economical, safe, swift and comfortable mode of commuting to low income people. Khawaja Ahmad Haassan, chairman of the steering

Published 05 Oct, 2017 12:00am

CM seeks road map for improving education system

CM seeks road map for improving education system

Chief Minister Syed Murad Ali Shah directed the education department on Wednesday to work out a detailed plan to improve the education system, reduce the ratio of dropouts and develop teachers' capacity building. Presiding over a meeting at the Chief Mini

Published 05 Oct, 2017 12:00am

Pesco drive against illegal power use in full swing

Pesco drive against illegal power use in full swing

On the directives of Chief Executive Officer (CEO) Pesco Engineer Shabir Ahmad, drive against illegal use of electricity is continued throughout Khyber Pakhtunkhwa.

Published 05 Oct, 2017 12:00am

NAB decides to file two references, authorises four investigations

NAB decides to file two references, authorises four investigations

The Executive Board (EB) meeting of National Accountability Bureau (NAB) was held under the chairmanship of Qamar Zaman Chaudhry, Chairman NAB at NAB Headquarters. The following decisions were taken during the Executive Board (EB) meeting.

Published 05 Oct, 2017 12:00am

Abraaj Group invests in leading cinema chain 'Cinepax'

Abraaj Group invests in leading cinema chain 'Cinepax'

The Abraaj Group, a leading investor operating in growth markets, announced today it has invested through its Fund, in Cinepax Limited, Pakistan's leading cinema operator. Arif Baig Mohamed and Pir Saad Ahsanuddin established Cinepax in 2006 and launched

Published 05 Oct, 2017 12:00am

Three killed in road accident

Three killed in road accident

At least three people died and four others were injured when a dumper knocked down three motorcycles here on Wednesday. Police said that an over speeding dumper ran over three motorcycles after it got out of control of driver at Jam Sadiq Ali Bridge in Ka

Published 05 Oct, 2017 12:00am

BankIslami signs agreement with Jubilee Family Takaful

BankIslami signs agreement with Jubilee Family Takaful

BankIslami Pakistan has signed an agreement with Jubilee Family Takaful to Launch BancaTakaful Products, Health Shield & Critical Illness plan. These products are one of its kinds to be launched in the Banking sector. BankIslami will fulfill customer's He

Published 05 Oct, 2017 12:00am

Zubair stresses need for linkages between academia & industry

Zubair stresses need for linkages between academia & industry

Governor Sindh Muhammad Zubair has emphasized the need of developing linkages between the academia and the industry for innovation, invention, employment and economic growth in Pakistan. Speaking as a chief guest at a seminar here on Wednesday, the Govern

Published 05 Oct, 2017 12:00am

Punjab government urged to clear refunds of wheat exporters

Punjab government urged to clear refunds of wheat exporters

The Pakistan Flour Mills Association (PFMA) Punjab has urged the Punjab government to immediately clear refunds of billions of rupees of wheat exporters which were stuck with it for the last many months. The flour millers are facing liquidity crunch becau

Published 05 Oct, 2017 12:00am

Partly Facetious: The holder of coveted Iqama

Partly Facetious: The holder of coveted Iqama

"You know if you are in the real estate business its location, location, location and if you are in politics its narrative, narrative, narrative."

Published 05 Oct, 2017 12:00am

LCCI urges government to remove obstacles hindering growth of businesses

Cotton

LCCI urges government to remove obstacles hindering growth of businesses

Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javed has urged the government to get rid of the obstacles which are hindering the growth of businesses. While speaking at a reception for newly-elected office-bearers of All Pakistan Pa

Published 05 Oct, 2017 12:00am

Fertilizer industry: 'Rs 9 billion to be released on account of subsidy payments'

Fertilizer industry: 'Rs 9 billion to be released on account of subsidy payments'

Federal Secretary of Ministry of National Food Security & Research (MNFSR) Fazal Abbas Maken has assured the fertilizer industry that the government will release Rs 9 billion within a week to the industry on account of subsidy payments.

Published 05 Oct, 2017 12:00am

Meeting to review progress on SEZs today

Meeting to review progress on SEZs today

In order to review progress regarding establishing special economic zones (SEZs) in the provinces alongside the motorway under the China-Pakistan Economic Corridor, a meeting will be held here on Thursday (today) in Islamabad. The Federal Minister for Pla

Published 05 Oct, 2017 12:00am

US diplomat visits Mansoora

US diplomat visits Mansoora

The American Consul General at Lahore, Elizabeth Trudeau, called on the chief of Jamaat-e-Islami, Senator Sirajul Haq, at Mansoora on Wednesday. The JI chief welcomed the US diplomat at Masnsoora on her first visit and expressed the hope that she would pl

Published 05 Oct, 2017 12:00am

NDU mission visits KPT head office

NDU mission visits KPT head office

A high profile delegation of 75 participants of National Defence University (NDU) Islamabad, visited the KPT Head Office on Wednesday. Their familiarization visit/inland tour was part of their ongoing 19th National Security Workshop (NSW) in which eminent

Published 05 Oct, 2017 12:00am

CJCSC visits PAF operational air base

CJCSC visits PAF operational air base

Chairman Joint Chiefs of Staff Committee (CJCSC) visited an Operational Air Base of Pakistan Air Force, Wednesday. On his arrival at the Base, he was received by Air Chief Marshal Sohail Aman, Chief of the Air Staff, Pakistan Air Force.

Published 05 Oct, 2017 12:00am

Admiral Zakaullah pays farewell calls on Rana Tanveer

Admiral Zakaullah pays farewell calls on Rana Tanveer

Admiral Muhammad Zakaullah, Chief of the Naval Staff had a farewell call with Rana Tanveer Hussain Federal Minister for Defence Production on Wednesday. Rana Tanveer warmly welcomed the Naval Chief in his office.

Published 05 Oct, 2017 12:00am

Water policy still up in the air owing to lack of consensus

Water policy still up in the air owing to lack of consensus

Water policy could not be formulated during the last 30 years due to lack of consensus among stakeholders and was dropped from the agenda of Council of Common Interests (CCI), said the Ministry of Planning, Development and Reform here on Wednesday.

Published 05 Oct, 2017 12:00am

JI chief welcomes government decision

JI chief welcomes government decision

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has welcomed the government announcement withdrawing the amendment in regard to the Finality of the Holy Prophet (PBUH) in the electoral reforms and said this was a big victory of the masses.

Published 05 Oct, 2017 12:00am

Businessmen want blocked NTNs reactivated

Businessmen want blocked NTNs reactivated

The chairman of the Pakistan Chemicals and Dyes Merchants Association, Arif Lakhani, has demanded the withdrawal without delay of all recovery notices and activation of businessmen's blocked NTN. He expressed concern over the blocking of the NTN of 800 bu

Published 05 Oct, 2017 12:00am

E-monitoring of tobacco production: FBR to convene stakeholders' meeting

E-monitoring of tobacco production: FBR to convene stakeholders' meeting

The Federal Board of Revenue (FBR) will convene a meeting of all the stakeholders of the tobacco industry for proposed implementation of electronic monitoring of production in the industry through tax stamps /track and trace system.

Published 05 Oct, 2017 12:00am

Departments asked to finalise TORs of separating Account & Audit cadres in 3-month

Departments asked to finalise TORs of separating Account & Audit cadres in 3-month

Senate Standing Committee on Finance Wednesday gave three months time to Finance Division, Establishment Division, Law Division, AGP and CGA for holding consultations and finalization of terms of references (TORs) on the separation of cadres of Account an

Published 05 Oct, 2017 12:00am

Need for imparting training to teachers stressed

Need for imparting training to teachers stressed

Sindh's minister of education and literacy, Jam Mehtab Hussain Dahar, has directed secretary schools and colleges in the province to intervene in the matter regarding disconnection of electricity to some educational institutions and resolve such issues on

Published 05 Oct, 2017 12:00am

Ministers' absence from NA irks PPP legislators

Ministers' absence from NA irks PPP legislators

Pakistan Peoples Party's members in the National Assembly protested on Wednesday against continued absence of ministers from the House and the poor attendance of the treasury members. Speaking on a point of order, PPP's Nafisa Shah said that there is nobo

Published 05 Oct, 2017 12:00am

Bilawal reviews party arrangements for Hyderabad public meeting

Bilawal reviews party arrangements for Hyderabad public meeting

Chairman Pakistan Peoples Party Bilawal Bhutto-Zardari on Wednesday chaired a meeting to review the party arrangements for October 18 Karsaz tragedy anniversary at Bilawal House. PPP Sindh leaders briefed the Party Chairman about the arrangements and prep

Published 05 Oct, 2017 12:00am

Law allows individuals, convicted to form, head party: Wasim

Law allows individuals, convicted to form, head party: Wasim

The recently passed Elections Act 2017 allows an individual, convicted or from a proscribed organization to form and head a political party. This was stated by senior lawyer and former chairman Senate Wasim Sajjad. "It should have been specifically mentio

Published 05 Oct, 2017 12:00am

Imran's disqualification case: Parliamentarians equally respectable for the court: CJP

Imran's disqualification case: Parliamentarians equally respectable for the court: CJP

The Supreme Court on Wednesday observed it has to figure out what is distinguishable between assets and liability declaration in Panama Papers case and Imran Khan disqualification case.

Published 05 Oct, 2017 12:00am

Rashid challenges election law in SC

Rashid challenges election law in SC

Chairman Awami Muslim League Sheikh Rashid Ahmad Wednesday challenged recently passed election law, which justified Nawaz Sharif to become Pakistan Muslim League-Nawaz president even after the apex court declared him disqualified from holding a public off

Published 05 Oct, 2017 12:00am

MYC cancels national conference

MYC cancels national conference

President Milli Yakjehti Council (MYC), Sahibzada Abul Khair Zubair has cancelled the national conference of the religious parties that was fixed for today and welcomed the government's explanation about a mistake in the draft of the electoral reforms rel

Published 05 Oct, 2017 12:00am

SECP allows some companies to prepare statements under repealed ordinance

Exchange

SECP allows some companies to prepare statements under repealed ordinance

In a major move to facilitate corporate sector, Securities and Exchange Commission of Pakistan (SECP) has allowed companies, whose financial year closes on or before December 31, 2017, to prepare their financial statements under repealed Companies Ordinan

Published 05 Oct, 2017 12:00am

'OPC Punjab retrieves 13 properties'

'OPC Punjab retrieves 13 properties'

"As a result of the intervention of Overseas Pakistanis Commission (OPC) Punjab, as many as 13 properties of expatriate Pakistanis, worth Rs 60 million have been retrieved from the illegal occupants during the last week." Commissioner OPC Afzaal Bhatti in

Published 05 Oct, 2017 12:00am

Imran slams Nawaz's re-election has PML-N chief

Imran slams Nawaz's re-election has PML-N chief

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Wednesday said that PML-N's reelecting disqualified Premier Nawaz Sharif as party head is akin to the lunatics have taken over the asylum. Criticizing the reelection of Nawaz Sharif as party president

Published 05 Oct, 2017 12:00am

PM condemns Indian aggression across LoC

PM condemns Indian aggression across LoC

Prime Minister Shahid Khaqan Abbasi has strongly condemned the unprovoked firing by Indian security forces at Rawalakot and Chirri Kot sectors across LoC on Wednesday, resulting in martyrdom of two innocent children. The Prime Minister lauded the role of

Published 05 Oct, 2017 12:00am

India's threat amounts to violation of UN Charter: Maleeha

India's threat amounts to violation of UN Charter: Maleeha

Pakistan Ambassador Maleeha Lodhi warned India at the UN on Tuesday against carrying out its threat to conduct strikes across the Line of Control, saying that Pakistan will give an effective and matching response. Speaking in the debate on the Secretary G

Published 05 Oct, 2017 12:00am

'Revenue collection shortfall'

'Revenue collection shortfall'

The performance of Federal Board of Revenue, during the first quarter of the current Fiscal Year has been positive and satisfactory, as opposed to the impression conveyed through the an editorial carried by Business Recorder on 4th October 4, 2017.

Published 05 Oct, 2017 12:00am

Independence or bust: Catalan leader boxed in by his own angry base

Independence or bust: Catalan leader boxed in by his own angry base

Catalonia's pro-independence leader Carles Puigdemont has called for the European Union to mediate with Spain over the region's future, but for many Catalans the intensity of a police crackdown on a banned referendum may mean it is too late for compromise

Published 05 Oct, 2017 12:00am

Who will guard the guards?

Currency

Who will guard the guards?

Rule of law is a universal principle that makes government decisions subservient to established laws rather than governments using power to influence or bend the laws to their will. Ours being a pretend democracy, elected governments have repeatedly been

Published 05 Oct, 2017 12:00am

'Where have all the good bureaucrats gone'

'Where have all the good bureaucrats gone'

Recently, a parliamentary committee had occasion to bemoan the falling standards of the civil service. Speaker after speaker wistfully recalled the days when the best and the brightest competed for the civil services and competence was their hallmark. Par

Published 05 Oct, 2017 12:00am

End this brinkmanship

End this brinkmanship

That the country is going to witness confrontation between institutions is now a strong possibility. This perception has received a strong boost following the election of ousted prime minister Nawaz Sharif as president of the PML-N. Less than 24 hours pri

Published 05 Oct, 2017 12:00am

Resort to further RD

Currency

Resort to further RD

According to a Business Recorder exclusive, the Commerce Ministry together with the Federal Board of Revenue (FBR) have prepared a list of reportedly hundreds of imported items which would have a regulatory duty (RD) of between 5 to 10 percent slap

Published 05 Oct, 2017 12:00am

Trio awarded Nobel prize for 'cool' method to study molecules

Trio awarded Nobel prize for 'cool' method to study molecules

A revolutionary technique dubbed cryo-electron microscopy, which has peered closer at the Zika virus and an Alzheimer's enzyme, earned scientists Jacques Dubochet, Joachim Frank and Richard Henderson the Nobel Chemistry Prize on Wednesday.

Published 05 Oct, 2017 12:00am

Trio awarded Nobel prize for 'cool' method to study molecules

Trio awarded Nobel prize for 'cool' method to study molecules

A revolutionary technique dubbed cryo-electron microscopy, which has peered closer at the Zika virus and an Alzheimer's enzyme, earned scientists Jacques Dubochet, Joachim Frank and Richard Henderson the Nobel Chemistry Prize on Wednesday.

Published 05 Oct, 2017 12:00am

CPEC framework: export processing zones to be established: Sartaj

CPEC framework: export processing zones to be established: Sartaj

Deputy Chairman Planning Commission of Pakistan Sartaj Aziz said the federal government is committed to take up on priority the problems faced by the local industry and manufacturing sector in Pakistan and to take appropriate measures to boost up industri

Published 05 Oct, 2017 12:00am

CPEC framework: export processing zones to be established: Sartaj

CPEC framework: export processing zones to be established: Sartaj

Deputy Chairman Planning Commission of Pakistan Sartaj Aziz said the federal government is committed to take up on priority the problems faced by the local industry and manufacturing sector in Pakistan and to take appropriate measures to boost up industri

Published 05 Oct, 2017 12:00am

CPEC framework: export processing zones to be established: Sartaj

CPEC framework: export processing zones to be established: Sartaj

Deputy Chairman Planning Commission of Pakistan Sartaj Aziz said the federal government is committed to take up on priority the problems faced by the local industry and manufacturing sector in Pakistan and to take appropriate measures to boost up industri

Published 05 Oct, 2017 12:00am

Forensic audit of banks: FBR terms secrecy clause major impediment

Forensic audit of banks: FBR terms secrecy clause major impediment

The Federal Board of Revenue (FBR) has termed confidentiality law or secrecy clause in banking laws as a major impediment to the forensic audit of banks for which State Bank of Pakistan (SBP) can play a pivotal role in negotiations with banks for provisio

Published 05 Oct, 2017 12:00am

Forensic audit of banks: FBR terms secrecy clause major impediment

Forensic audit of banks: FBR terms secrecy clause major impediment

The Federal Board of Revenue (FBR) has termed confidentiality law or secrecy clause in banking laws as a major impediment to the forensic audit of banks for which State Bank of Pakistan (SBP) can play a pivotal role in negotiations with banks for provisio

Published 05 Oct, 2017 12:00am

Forensic audit of banks: FBR terms secrecy clause major impediment

Forensic audit of banks: FBR terms secrecy clause major impediment

The Federal Board of Revenue (FBR) has termed confidentiality law or secrecy clause in banking laws as a major impediment to the forensic audit of banks for which State Bank of Pakistan (SBP) can play a pivotal role in negotiations with banks for provisio

Published 05 Oct, 2017 12:00am

'Accountability of judges, generals': Parliamentary body still undecided

'Accountability of judges, generals': Parliamentary body still undecided

The Parliamentary Committee tasked to review the National Accountability Law is still undecided about bringing judges and generals under the ambit of proposed accountability law as well as its territorial jurisdiction.

Published 05 Oct, 2017 12:00am

'Accountability of judges, generals': Parliamentary body still undecided

'Accountability of judges, generals': Parliamentary body still undecided

The Parliamentary Committee tasked to review the National Accountability Law is still undecided about bringing judges and generals under the ambit of proposed accountability law as well as its territorial jurisdiction.

Published 05 Oct, 2017 12:00am

Turkey sentences 34 to life in jail over Erdogan death plot

Turkey sentences 34 to life in jail over Erdogan death plot

A Turkish court on Wednesday handed life sentences to 34 people convicted of plotting to assassinate President Recep Tayyip Erdogan at a luxury Aegean hotel during last year's failed coup. The defendants, who include senior military officers, were each gi

Published 05 Oct, 2017 12:00am

Turkey sentences 34 to life in jail over Erdogan death plot

Turkey sentences 34 to life in jail over Erdogan death plot

A Turkish court on Wednesday handed life sentences to 34 people convicted of plotting to assassinate President Recep Tayyip Erdogan at a luxury Aegean hotel during last year's failed coup. The defendants, who include senior military officers, were each gi

Published 05 Oct, 2017 12:00am

Mishaps disrupt UK PM as she tries to rally party

Mishaps disrupt UK PM as she tries to rally party

Prime Minister Theresa May urged her party Wednesday to back her to deliver bold change for Britain, but her attempt to move past Brexit splits was marred by a protest, a collapsing set and a coughing fit. The Conservative leader used her closing speech t

Published 05 Oct, 2017 12:00am

Mishaps disrupt UK PM as she tries to rally party

Mishaps disrupt UK PM as she tries to rally party

Prime Minister Theresa May urged her party Wednesday to back her to deliver bold change for Britain, but her attempt to move past Brexit splits was marred by a protest, a collapsing set and a coughing fit. The Conservative leader used her closing speech t

Published 05 Oct, 2017 12:00am

SBP extends timeline for reporting of operational loss data

SBP extends timeline for reporting of operational loss data

The State Bank of Pakistan (SBP) has announced extension in the timeline for reporting of operational loss data. According to BPRD Circular Letter No. 27 of 2017, issued on October 4, 2017, under the implementation of operational risk management framework

Published 05 Oct, 2017 12:00am

SBP extends timeline for reporting of operational loss data

SBP extends timeline for reporting of operational loss data

The State Bank of Pakistan (SBP) has announced extension in the timeline for reporting of operational loss data. According to BPRD Circular Letter No. 27 of 2017, issued on October 4, 2017, under the implementation of operational risk management framework

Published 05 Oct, 2017 12:00am

SBP extends timeline for reporting of operational loss data

SBP extends timeline for reporting of operational loss data

The State Bank of Pakistan (SBP) has announced extension in the timeline for reporting of operational loss data. According to BPRD Circular Letter No. 27 of 2017, issued on October 4, 2017, under the implementation of operational risk management framework

Published 05 Oct, 2017 12:00am

India ceasefire violations threat to peace, security: FO

India ceasefire violations threat to peace, security: FO

Foreign Office Wednesday warned that ceasefire violations by India are a threat to regional peace and security and may lead to a strategic miscalculation. In a statement, Foreign Office Spokesperson Nafees Zakaria said that Director General South Asia and

Published 05 Oct, 2017 12:00am

India ceasefire violations threat to peace, security: FO

India ceasefire violations threat to peace, security: FO

Foreign Office Wednesday warned that ceasefire violations by India are a threat to regional peace and security and may lead to a strategic miscalculation. In a statement, Foreign Office Spokesperson Nafees Zakaria said that Director General South Asia and

Published 05 Oct, 2017 12:00am

Nawaz leaves for London today

Nawaz leaves for London today

President PML-N, Nawaz Sharif is leaving for UK today, party sources told. They said Nawaz Sharif will fly through PIA flight PK757 at 11 am. He is bound to appear before a National Accountability Bureau (NAB) court on 9th of October for indictment.

Published 05 Oct, 2017 12:00am

Combined convocation of SMME, SCME held at NUST

Combined convocation of SMME, SCME held at NUST

The combined convocation of School of Mechanical and Manufacturing Engineering (SMME) and School of Chemical and Materials Engineering (SCME) was held at the main campus of National University of Sciences and Technology (NUST) here on Wednesday.

Published 05 Oct, 2017 12:00am

PMIC, Alfalah Insurance sign MoU

Exchange

PMIC, Alfalah Insurance sign MoU

Pakistan Microfinance Investment Company (PMIC) and Alfalah Insurance Company have signed MoU to collaborate towards development of need based innovative crop and livestock insurance products for subsistence farmers. The MoU was signed by Yasir Ashfaq Chi

Published 05 Oct, 2017 12:00am

Joint body to redress difference with PHMA: EOBI official

Joint body to redress difference with PHMA: EOBI official

Employee's Old Age Benefits Institution (EOBI) will take Pakistan Hosiery Manufacturers & Exporters Association (PHMA) into confidence before issuing notices while a joint committee has also been constituted to redress the mutual differences, said Directo

Published 05 Oct, 2017 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 15	277.70
USD PKR Interbank Buying / Nov 15	277.50
USD to Japanese Yen / Nov 15	154.30
USD to Swiss Franc / Nov 15	0.89
Pound Sterling to USD / Nov 15	1.26
Euro to USD / Nov 15	1.05

Stock	Volume
India Sensex / Nov 14	77,580.31
S&P 500 / Nov 15	5,870.62
Tokyo Nikkei / Nov 15	38,642.91
Nasdaq / Nov 15	18,680.12
Hang Seng / Nov 15	19,426.34
FTSE 100 / Nov 15	8,063.61
Dow Jones / Nov 15	43,444.99
Germany DAX 30 / Nov 15	19,210.81

Item	Value
Crude Oil USD/Barrel / Nov 15	67.02
Gold 10 Grams PKR / Nov 15	233,371.60
Gold Spot USD/Ounce / Nov 15	2,563.25
Cotton US¢/pound / Nov 15	68.91
Karachi Cotton PKR/37.32 KG / Nov 16	18,085
Petrol/Litre / Nov 18	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 18 786 Investments Limited(786)	6.33 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 18 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▼ 0.00 (0.00%)
Agro Allianz / Nov 18 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 18 Ali Asghar Textile Mills Limited(AATM)	56.65 ▼ 0.00 (0.00%)
Allied Bank / Nov 18 Allied Bank Limited(ABL)	115.07 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 18 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▼ 0.00 (0.00%)
Abson Ind. / Nov 18 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 18 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 18 786 Investments Limited(786)	6.33 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 18 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▲ 0.00 (0.00%)
Agro Allianz / Nov 18 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 18 Ali Asghar Textile Mills Limited(AATM)	56.65 ▲ 0.00 (0.00%)
Allied Bank / Nov 18 Allied Bank Limited(ABL)	115.07 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 18 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▲ 0.00 (0.00%)
Abson Ind. / Nov 18 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 18 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 18 Worldcall Telecom Limited(WTL)	77,999,077 ▲ 0.00
Fauji Foods Ltd / Nov 18 Fauji Foods Limited(FFL)	70,721,702 ▲ 0.00
Hascol Petrol / Nov 18 Hascol Petroleum Limited(HASCOL)	55,501,231 ▲ 0.00
K-Electric Ltd. / Nov 18 K-Electric Limited(KEL)	36,884,955 ▲ 0.00
Sui South Gas / Nov 18 Sui Southern Gas Company Limited(SSGC)	36,294,630 ▲ 0.00
D.S. Ind. Ltd. / Nov 18 D.S. Industries Limited(DSIL)	32,226,742 ▲ 0.00
TRG Pak Ltd / Nov 18 TRG Pakistan Limited(TRG)	29,018,611 ▲ 0.00
Pak Int.Bulk / Nov 18 Pakistan International Bulk Terminal(PIBTL)	22,405,457 ▲ 0.00
Treet Battery / Nov 18 Treet Battery Limited(TBL)	21,319,898 ▲ 0.00

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Agri income levy: Punjab govt emulates FBR’s super tax structure

Agri income levy: Punjab govt emulates FBR’s super tax structure

IPP owner Shahid Abdullah barred from traveling abroad amid money laundering inquiry

IPP owner Shahid Abdullah barred from traveling abroad amid money laundering inquiry

Bangladesh’s textile triumph

Bangladesh’s textile triumph

Input tax claim and credit: SC defines applicability of Section 8 of Sales Tax Act

Input tax claim and credit: SC defines applicability of Section 8 of Sales Tax Act

Aurangzeb rules out ‘mini-budget’

Aurangzeb rules out ‘mini-budget’

Undisclosed foreign bank accounts, recovery of looted money: SC seeks reports from FBR and FIA

Undisclosed foreign bank accounts, recovery of looted money: SC seeks reports from FBR and FIA

Roll back state control in economy, IMF tells govt

Roll back state control in economy, IMF tells govt

Wheat procurement: Body formed to prepare plan as per IMF terms

Wheat procurement: Body formed to prepare plan as per IMF terms