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Print - 2018-01-04
Baldia factory case: ATC rejects Bhola's bail plea

Baldia factory case: ATC rejects Bhola's bail plea

An anti-terrorism court on Wednesday dismissed a bail application of Abdul Rehman alias Bhola, a former sector-in-charge of the Muttahida Qaumi Movement (MQM), in the Baldia factory fire case. Bhola, a key suspect in the case pertaining to a deadly fire t
Published 04 Jan, 2018 12:00am
Ivory Coast's CCC dismisses cocoa default fears

Ivory Coast's CCC dismisses cocoa default fears

Ivory Coast's Coffee and Cocoa Council (CCC) on Wednesday dismissed as "unfounded rumours" concerns expressed by exporters that a lack of available bank financing was hindering cocoa purchasing and raising the risk of defaults. Exporters told Reuters on T
Published 04 Jan, 2018 12:00am
Lead hits 11-week peak, copper descends
Exchange

Lead hits 11-week peak, copper descends

Lead prices hit an 11-week high on Wednesday as expectations of seasonally strong demand and the likelihood of shortages over the winter months spurred investor buying. Benchmark lead on the London Metal Exchange ended up 0.3 percent at $2,579 a tonne. Pr
Published 04 Jan, 2018 12:00am
China metals ease
Exchange

China metals ease

Most Chinese base metals ended lower on Wednesday, while lead gained more than 1 percent as parts of the United States braced for more frigid weather. The peak demand period for lead, which is largely used to make batteries, is during the height of winter
Published 04 Jan, 2018 12:00am
Action against JuD part of operation Raddul Fasaad: Dastgir

Action against JuD part of operation Raddul Fasaad: Dastgir

Defence Minister Khurram Dastgir Khan has said that recent actions against Jamaatud Dawah are part of operation Raddul Fasaad and has nothing to do with the American statements. He said the action has been taken to secure the future of Pakistan and bring
Published 04 Jan, 2018 12:00am
FPCCI hopes government to resolve issues

FPCCI hopes government to resolve issues

Newly-elected President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Ghazanfar Bilour has expressed hoped that government will resolve all the outstanding issues of the trade and industry. He also expressed that his team will work
Published 04 Jan, 2018 12:00am
Babar slams role of security agencies in registration of NGOs

Babar slams role of security agencies in registration of NGOs

Senator Farhatullah Babar said on Wednesday that handing over the task of registration of non-governmental organizations (NGOs) to security agencies is like asking the wolf to guard the lamb and called for rooting registration of NGOs as well as accountab
Published 04 Jan, 2018 12:00am
PPP submits adjournment motion to National Assembly Secretariat

PPP submits adjournment motion to National Assembly Secretariat

Pakistan Peoples Party (PPP) Wednesday submitted an adjournment motion to the National Assembly Secretariat with respect to US President Donald Trump's recent derogatory remarks about Pakistan. The PPP members of National Assembly including Syed Naveed Qa
Published 04 Jan, 2018 12:00am
Pakistan doesn't need any US aid, fund: SCDP

Pakistan doesn't need any US aid, fund: SCDP

The Standing Committee on Defense Production (SCDP) unanimously declared on Wednesday that Pakistan does not require any aid/funds from the United States at the cost of sacrifices it has made in the war on terror so far. The committee meeting was held und
Published 04 Jan, 2018 12:00am
Three TTP terrorists killed: Rangers

Three TTP terrorists killed: Rangers

The paramilitary Rangers (Sindh) claimed to have killed three terrorists associated with the banned Tehreek-e-Taliban Pakistan (TTP) here in Baldia Town neighborhood of the metropolis. A spokesman of Rangers in a statement said that a raid was conducted T
Published 04 Jan, 2018 12:00am
Nawaz jettisons 'NRO' reports

Nawaz jettisons 'NRO' reports

Declaring his recent visit to Saudi Arabia as "nothing new", deposed Prime Minister Nawaz Sharif on Wednesday said that Pakistan enjoys a special relation with the kingdom. He was talking to media persons after hearing of corruption references against him
Published 04 Jan, 2018 12:00am
National Assembly body informed about delimitation process

National Assembly body informed about delimitation process

The National Assembly Standing Committee on Parliamentary Affairs has been informed that seats in the National Assembly will be allocated to each province and the federal capital on the basis of population in accordance with provisional results of the rec
Published 04 Jan, 2018 12:00am
MPAs discuss matters of mutual interest with Shahbaz

MPAs discuss matters of mutual interest with Shahbaz

Three MPAs Khurram Abbas Sial, Muhammad Asif Bajwa, Sardar Qaiser Abbas Khan Magsi and Mian Marghoob called on Punjab Chief Minister Muhammad Shahbaz Sharif here on Wednesday discussed matters of mutual interest. Shahbaz Sharif said that the PML-N governm
Published 04 Jan, 2018 12:00am
Pakistan needs to learn lesson, says Imran

Pakistan needs to learn lesson, says Imran

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Wednesday said that after being blamed by "ignorant and ungrateful Trump," Pakistan needs to learn the lesson of not allowing itself to be used by others for, what he said, short-term paltry financial
Published 04 Jan, 2018 12:00am
Sherpao rejects Trump's allegations

Sherpao rejects Trump's allegations

Chairman Qaumi Watan Party Aftab Ahmad Khan Sherpao has out-rightly rejected the US President Donald Trump's allegations in a tweet against Pakistan and added that Pakistan had rendered great sacrifices in combating terrorism. In a statement on Wednesday,
Published 04 Jan, 2018 12:00am
Afghan health professionals receive training at PIMS

Afghan health professionals receive training at PIMS

On 2nd January 2018, the Special Secretary Foreign Affairs Aitzaz Ahmed was chief guest at the certificate awarding ceremony of the Afghan Health Professionals (AHP), who underwent a twelve month training and capacity building program at Pakistan Institut
Published 04 Jan, 2018 12:00am
China to further extend assistance to Pakistan in power sector

China to further extend assistance to Pakistan in power sector

Power Division has decided to meet all the investors engaged under the CPEC energy projects individually to further fast track these projects and also remove any difficulty faced by them. This was decided at a meeting held in Islamabad on Wednesday betwee
Published 04 Jan, 2018 12:00am
Hashoo Foundation, SPFC sign MoU for sustainable forestry

Hashoo Foundation, SPFC sign MoU for sustainable forestry

The Hashoo Foundation signed a memorandum of understanding (MoU) with the South Punjab Forest Company (SPFC) in Islamabad on 3rd-Jan-2018 at the former's venue. The HF will participate in the cooperative activities pertaining to climate action and sustain
Published 04 Jan, 2018 12:00am
National Logistics Cell to open terminals at border areas

National Logistics Cell to open terminals at border areas

To fully exploit the unique geo-strategic position of Pakistan and make it a potential hub of transit trade, National Logistics Cell (NLC) has chalked out detailed plans for establishment of new border terminals at key entry /exit points with neighbouring
Published 04 Jan, 2018 12:00am
KMU Peshawar signs MoU with Women University Swabi
Exchange

KMU Peshawar signs MoU with Women University Swabi

Khyber Medical University (KMU), Peshawar and Women University, Swabi (WUS) on Wednesday signed a Memorandum of Understanding (MOU) on academic and research collaboration. The MOU was signed by Professor Arshad Javaid Vice Chancellor KMU and Professor Kha
Published 04 Jan, 2018 12:00am
Petition seeking rights of Fata people filed in Supreme Court

Petition seeking rights of Fata people filed in Supreme Court

A petition was moved in the Supreme Court on Wednesday for enforcement of fundamental rights of people of Federally Administered Tribal Areas (FATA) on the ground that they have been deprived of invoking the jurisdictions of the apex court or high court f
Published 04 Jan, 2018 12:00am
LCCI felicitates Lahore Press Club office-bearers

LCCI felicitates Lahore Press Club office-bearers

The business community has greeted the newly-elected office-bearers of the Lahore Press Club (LPC) and hoped that they would play their pivotal role in highlighting the issues faced by the public in general and industry in particular. Federation of Pakist
Published 04 Jan, 2018 12:00am
Police files case against JuD's Falah-e-Insaniat

Police files case against JuD's Falah-e-Insaniat

City police Wednesday registered a case against Falah-e-Insaniat Foundation (FIF), a subordinate body of Jamaat-ud-Dawa (JuD), on the charges of displaying a banner for collection of charity in violation of Section 144 imposed by Islamabad Capital Territo
Published 04 Jan, 2018 12:00am
Protest rallies against Punjab government finalised

Protest rallies against Punjab government finalised

Religious parties have finalized protest rallies in support of their demand for resignation of Punjab Law Minister Rana Sanaullah. The purpose of these rallies is to build up pressure against the Punjab government. According to details, Tehreek-e-Sirat-e-
Published 04 Jan, 2018 12:00am
Industrialists now prefer trading over manufacturing, opine exporters

Industrialists now prefer trading over manufacturing, opine exporters

High cost of production with misdirected tax policies contribute in a wide range imports of textile clothing, as industries now favor trading than manufacturing for local markets, exporters said on Wednesday. The country's over 80 percent revenues that co
Published 04 Jan, 2018 12:00am
Industrialists now prefer trading over manufacturing, opine exporters

Industrialists now prefer trading over manufacturing, opine exporters

High cost of production with misdirected tax policies contribute in a wide range imports of textile clothing, as industries now favor trading than manufacturing for local markets, exporters said on Wednesday. The country's over 80 percent revenues that co
Published 04 Jan, 2018 12:00am
MoneyGram launches Hamara Hero campaign

MoneyGram launches Hamara Hero campaign

To show its appreciation for modern-day heroes working overseas and providing for their families in Pakistan, MoneyGram launched the Hamara Hero campaign. This is the first initiative aimed at recognizing the efforts of millions of Pakistanis sending mone
Published 04 Jan, 2018 12:00am
Astroturf: PHF, POF sign MoU

Astroturf: PHF, POF sign MoU

PHF and POF have signed an MoU in relation to laying of new Astroturf at Hockey Ground POF Sports Complex Wah Cantt through PSDP. In order to revive the Pakistan's national game a "National level Hockey Academy" will be established in collaboration with P
Published 04 Jan, 2018 12:00am
NICVD's sixth Chest Pain Unit opens

NICVD's sixth Chest Pain Unit opens

National Institute of Cardiovascular Diseases - NICVD in collaboration with the Government of Sindh and Karachi Metropolitan Corporation has launched its 6th "Chest Pain Unit" in the city to facilitate patients with chest pain with easy access and free of
Published 04 Jan, 2018 12:00am
BB Hospital to be expanded

BB Hospital to be expanded

Benazir Bhutto Hospital and Holy Family hospital Rawalpindi are also catering the patients load not only from Rawalpindi but also from Azad Jammu & Kashmir and adjoining areas of Khyber Pukhtunkhawa, Punjab Minister for Specialized Healthcare and Medical
Published 04 Jan, 2018 12:00am
Goto deploys Oracle ERP Cloud

Goto deploys Oracle ERP Cloud

Pakistan's emerging online marketplace Goto.com.pk aims to give a boost to its foothold in the online shopping industry and gain a competitive advantage by successfully deploying Oracle ERP Cloud and Oracle SCM Cloud solutions to help improve business eff
Published 04 Jan, 2018 12:00am
'Sales of POL products decline by 11.4 percent on YoY'

'Sales of POL products decline by 11.4 percent on YoY'

The sales of petroleum products in the local market have declined by 11.4 percent on year-on-year basis to 1,872,000 tons in December 2017. Decline in sales was mainly because of plummeting Furnace Oil (FO) sales (down 44.6 percent on YoY to 431,000 tons)
Published 04 Jan, 2018 12:00am
PSQCA suspends licences of 10 food products

PSQCA suspends licences of 10 food products

Pakistan Standards and Quality Control Authority (PSQCA) on Wednesday claimed to have suspended 10 licences of non-conforming brands of Vanaspati & Cooking Oil in Karachi, Rural Sindh and Balochistan. Also, the standard authority has seized as many as 26
Published 04 Jan, 2018 12:00am
UCs of Lower Dir: special anti-polio drive for leftovers begins today

UCs of Lower Dir: special anti-polio drive for leftovers begins today

A special campaign to vaccinate the remaining children in the recently concluded anti-polio drive in the province will start from Thursday (today) in Dir Lower, informed Emergency Operations Center Khyber Pakhtunkhwa (EOC). EOC Coordinator Khyber Pakhtunk
Published 04 Jan, 2018 12:00am
UET Peshawar, PASDEC sign MoU to promote marble industry

UET Peshawar, PASDEC sign MoU to promote marble industry

The University of Engineering and Technology (UET) Peshawar and Pakistan Stone Development Company (PASDEC) signed Memorandum of Understanding (MoU), here on Wednesday. The MoU is aimed to undertake research in formulating policy guidelines for sustainabl
Published 04 Jan, 2018 12:00am
KP government, Chinese company to develop Hattar Economic Zone-Extension

KP government, Chinese company to develop Hattar Economic Zone-Extension

KP government has signed an agreement with China Road and Bridge Corporation (CRBC) for development of Hattar Special Economic Zone-Ext (1,000 acres). In pursuance of the MoUs signed in KP-China Roadshow (April 2017), the Government of Khyber Pakhtunkhwa
Published 04 Jan, 2018 12:00am
Cooperation with US not based on aid consideration: Maleeha

Cooperation with US not based on aid consideration: Maleeha

A top Pakistani diplomat Tuesday set the record straight after US Ambassador to the UN Nikki Haley's incendiary remarks about Pakistan's role in the war on terrorism, saying Islamabad's cooperation with Washington was not based on any aid consideration, b
Published 04 Jan, 2018 12:00am
PESCO disconnects power supply of defaulters

PESCO disconnects power supply of defaulters

Peshawar Electric Supply Company (PESCO) Wednesday disconnected power supply to Kari Haider and dozens of villagers in districts Tank and D.I. Khan from 58 distribution transformers due to non-payment of arrears amounting to Rs 131.7 million. On the direc
Published 04 Jan, 2018 12:00am
Jirga asks government to accomplish Fata-KP merger by mid-January

Jirga asks government to accomplish Fata-KP merger by mid-January

Jamaat-e-Islami (JI), sponsored 'jirga' has set a mid-January deadline to government for merger the Federally Administered Tribal Areas (Fata) with Khyber Pakhtunkhwa (KP), otherwise, it was decided that all pro-merger political parties, and people will h
Published 04 Jan, 2018 12:00am
Traders for stern action against encroachments
Exchange

Traders for stern action against encroachments

Business community has urged district administration to take effective steps against the excessive encroachments and illegal auto-rickshaws in order to overcome the growing traffic issues in the provincial metropolis. The demand was raised by a delegation
Published 04 Jan, 2018 12:00am
Body formed to evolve strategy for overcoming seasonal flu

Body formed to evolve strategy for overcoming seasonal flu

Punjab Chief Minister Shahbaz Sharif has constituted a committee to adopt medium and long-term strategy to overcome seasonal influenza. In a high-level meeting, here on Wednesday Shahbaz reviewed the situation arising due to the outbreak of seasonal influ
Published 04 Jan, 2018 12:00am
Kaira asks Nawaz to expose 'behind the scene' forces

Kaira asks Nawaz to expose 'behind the scene' forces

President Pakistan People's Party (PPP) Qamar Zaman Kaira said on Wednesday that Nawaz Sharif should expose the conspiracy and also speak about his role in destabilization of governments in the past. Reacting to the statement of Nawaz Sharif, he said Nawa
Published 04 Jan, 2018 12:00am
One held for transporting huge cache of arms to Lahore

One held for transporting huge cache of arms to Lahore

The Crime Investigation Agency (CIA) on Wednesday arrested a man for transporting huge cache of arms and ammunition to the provincial capital. Superintendent of Police (SP) CIA Lahore Syed Nadeem Abbas said after receiving information from reliable source
Published 04 Jan, 2018 12:00am
Dense fog disrupts rail & road traffic

Dense fog disrupts rail & road traffic

As weather remained cold and dry in most parts of the country on Wednesday, a thick layer of fog and severe cold has gripped Punjab and upper parts of the country including mountainous areas of Baluchistan dropping the minimum temperature to: Skardu -10,
Published 04 Jan, 2018 12:00am
PFVA felicitates FPCCI office-bearers

PFVA felicitates FPCCI office-bearers

All Pakistan Fruit & Vegetable Exporters, Importers and Merchants Association (PFVA) expressing deep appreciation on success of United Business Group (UBG) in FPCCI election congratulated dynamic leadership of UBG and all elected candidates. PFVA hoped th
Published 04 Jan, 2018 12:00am
ICAP, IGI sign MoU for vehicle insurance cover

ICAP, IGI sign MoU for vehicle insurance cover

The Institute of Chartered Accountants of Pakistan (ICAP) signed a Memorandum of Understanding (MoU) with IGI Insurance Ltd for motor vehicle insurance cover. The MoU is signed by Razi Khan, Executive Director, ICAP and Awais Ahmed, Assistant General Mana
Published 04 Jan, 2018 12:00am
PRGMEA seeks relaxation in yarn import duties
Cotton

PRGMEA seeks relaxation in yarn import duties

Chief Coordinator Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Ijaz A Khokhar on Wednesday said that apparel industry is suffering with the low productivity due to shortage of cotton yarn, high energy cost, and discriminating
Published 04 Jan, 2018 12:00am
SNGPL to establish facilitation desk at LCCI

SNGPL to establish facilitation desk at LCCI

Sui Northern Gas Pipelines Limited (SNGPL) will establish a facilitation desk at the Lahore Chamber of Commerce and Industry headed by LCCI Vice president Zeshan Khalil. It was decided at a meeting between LCCI president Malik Tahir Javaid and managing di
Published 04 Jan, 2018 12:00am
First World Islamic Economics, Finance moot kicks off
Exchange

First World Islamic Economics, Finance moot kicks off

The first two-day World Islamic Economics & Finance Conference (WIEFC 2018) organized by Minhaj University in collaboration with Islamic Development Bank, Jeddah & Islamic Research, and Training Institute began, here on Wednesday. The conference has broug
Published 04 Jan, 2018 12:00am
Islamic banking growing globally: Qadri

Islamic banking growing globally: Qadri

Chief of Pakistan Awami Tehrik Dr Tahir Ul Qadri has said that Islamic banking is growing globally with annual growth rate of 15 to 20 percent taking its volume to one trillion US dollars. While addressing an opening session of two-day 'International Isla
Published 04 Jan, 2018 12:00am
PARB, UAF ink MoU to extend agri research
Cotton

PARB, UAF ink MoU to extend agri research

The Punjab Agricultural Research Board (PARB) and University of Agriculture Faisalabad (UAF) on Wednesday inked a Memorandum of Understanding to foster agriculture research collaboration. The MoU was duly signed by UAF Vice Chancellor Dr Muhammad Iqbal Za
Published 04 Jan, 2018 12:00am
Japanese Foreign Minister arrives in Islamabad
Exchange

Japanese Foreign Minister arrives in Islamabad

Japanese Foreign Minister Taro Kono arrived on a two-day official visit here on Wednesday night to hold talks with Pakistani authorities. He was received by senior Foreign Office officials upon arrival at Nur Khan Airbase. During his stay in Pakistan, the
Published 04 Jan, 2018 12:00am
Eighth Annual Hult Prize: IBA advances in regional finals

Eighth Annual Hult Prize: IBA advances in regional finals

The Institute of Business Administration (IBA), Karachi, advances to Regional Finals of 8th Annual Hult Prize in response to the United Nation's Challenge of "Harnessing the Power of Energy". The Grand Finale of the first edition of Hult Prize presented b
Published 04 Jan, 2018 12:00am
SMEDA, BUST ink MoU to set up business development centre

SMEDA, BUST ink MoU to set up business development centre

Small and Medium Enterprises Development Authority (SMEDA) and Bannu University of Science and Technology (BUST) on Wednesday signed a memorandum of understanding (MoU) for the establishment of Business Development Centre (BDC) on the campus of the varsit
Published 04 Jan, 2018 12:00am
Mini-micro hydel projects Minister directs early completion

Mini-micro hydel projects Minister directs early completion

Khyber Pakhtunkhwa Minister for Energy Atif Khan Wednesday directed Energy and Power officials to timely complete 672 mini-micro hydel power projects initiate by the government across the province warning strict action in case of delay. Presiding over a m
Published 04 Jan, 2018 12:00am
Fish sale point inaugurated

Fish sale point inaugurated

Punjab University's Department of Zoology has started fish sale point at Punjab University New Campus. The PU has established Fish Research Farms on 6 Acres area for the purpose of thesis research, practical training and demonstration studies for students
Published 04 Jan, 2018 12:00am
Trump's threats won't affect Pakistan: Jamaat-e-Islami chief

Trump's threats won't affect Pakistan: Jamaat-e-Islami chief

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has said that the US lackeys should shed self deception after US President Trump's persistent hostility towards Pakistan. According to media cell of JI from Mansoora, he was addressing the Pakistani community
Published 04 Jan, 2018 12:00am
Tobacco squad awarded: 7,230,000 sticks of illicit cigarettes seized

Tobacco squad awarded: 7,230,000 sticks of illicit cigarettes seized

The Regional Tax Office (RTO) II rewarded officers and officials of the tobacco squad for conducting successful raids and seizing 7,230,000 sticks of illicit cigarettes from Sheikhupura in the month of November. Gift vouchers were distributed by FBR's Inl
Published 04 Jan, 2018 12:00am
Verdict reserved

Verdict reserved

The Lahore High Court on Wednesday reserved its verdict on a petition seeking appointment of visually impaired person as district public prosecutor in grade 18. The petitioner Umar Tufail submitted that he had passed the written test and even qualified fo
Published 04 Jan, 2018 12:00am
Summary sent to Prime Minister to rescue 'corrupt' EDB

Summary sent to Prime Minister to rescue 'corrupt' EDB

The Ministry of Industries and Production (MoI&P) has sent a summary to Prime Minister Shahid Khaqan Abbasi to rescue officially declared "corrupt" organization ie Engineering Development Board (EDB), well informed sources told Business Recorder. I
Published 04 Jan, 2018 12:00am
Cluster-based competitive exams suggested for FPSC

Cluster-based competitive exams suggested for FPSC

The competitive examinations should be made cluster-based exams with specific exams for different service groups, problem analysis techniques and restricted choices. This was the crux of a meeting of Senate Special Committee which met here on Wednesday to
Published 04 Jan, 2018 12:00am
Nawaz to share 'secrets' Zardari asks

Nawaz to share 'secrets' Zardari asks

Former President and Pakistan Peoples Party (PPP) Co-Chairman Asif Ali Zardari has said that former Prime Minster Mian Nawaz Sharif should share his secrets if any conspiracy is really being hatched against him or the PML-N government. The PPP co-chairman
Published 04 Jan, 2018 12:00am
Generals, judges accountability: Lahore High Court rejects petition

Generals, judges accountability: Lahore High Court rejects petition

The Lahore High Court registrar office refused to entertain during winter vacation a petition seeking the enforcement of accountability laws on judges and army officials like other citizens of the country. The registrar office held that it was not an urge
Published 04 Jan, 2018 12:00am
Exide Pakistan Limited
Mutual Funds

Exide Pakistan Limited

The premier battery manufacturer, Exide Pakistan (PSX: EXIDE) was incorporated in 1953 in association with Chloride Group PLC of the United Kingdom and went public in 1982. The group at the time had associates worldwide across 35 destinations and was supp
Published 04 Jan, 2018 12:00am
Exide Pakistan Limited
Mutual Funds

Exide Pakistan Limited

The premier battery manufacturer, Exide Pakistan (PSX: EXIDE) was incorporated in 1953 in association with Chloride Group PLC of the United Kingdom and went public in 1982. The group at the time had associates worldwide across 35 destinations and was supp
Published 04 Jan, 2018 12:00am
Violation of traffic laws assumes alarming proportions in Karachi

Violation of traffic laws assumes alarming proportions in Karachi

The increasing incidents of one-way violations and breaking the signal by drivers of motorcycles, cars, rickshaws and other vehicles are causing massive traffic jams and accidents in the city. The nuisance has grown to an alarming situation which can be j
Published 04 Jan, 2018 12:00am
PIA's reservation system restored

PIA's reservation system restored

PIA Reservation system has been restored to normal functioning. PIA spokesman said on Wednesday. A temporary technical problem in reservation system occurred on Wednesday and was restored. He said that all flights are operating normally and were not affec
Published 04 Jan, 2018 12:00am
German jobs bonanza pushes unemployment to record low

German jobs bonanza pushes unemployment to record low

Germany's unemployment rate hit a record low as its jobless total fell more than forecast in December, underpinning a broad-based economic upswing that augurs well for further strong growth in 2018. Consumers in Europe's biggest economy are reaping the be
Published 04 Jan, 2018 12:00am
Aussie, kiwi steady

Aussie, kiwi steady

The Australian and New Zealand dollars consolidated near multi-week highs on Wednesday as a spate of rousing factory surveys from around the globe seemed to bode well for the two countries' commodity exports. The Aussie dollar was steady at $0.7826, havin
Published 04 Jan, 2018 12:00am
Sterling slips against dollar
Currency

Sterling slips against dollar

Sterling slipped from a three-month high above $1.36 on Wednesday, with currency traders cautious about pushing the pound too far without any new catalysts. The pound had earlier reached as high as $1.3614, its strongest since September 20 and less than h
Published 04 Jan, 2018 12:00am
Yuan weakens

Yuan weakens

China's yuan eased against the US dollar on Wednesday after the central bank set the daily midpoint at its strongest level in 20 months, prompting a rush of dollar buying by corporates. Prior to market opening on Wednesday, the People's Bank of China (PBO
Published 04 Jan, 2018 12:00am
Most Asian currencies make small moves
Currency

Most Asian currencies make small moves

The Thai baht surged to its highest in well over two years while some other Asian currencies trudged lower against the dollar as investors awaited the minutes of the US Federal Reserve's December policy meeting. The dollar recovered slightly after hitting
Published 04 Jan, 2018 12:00am
Sri Lankan rupee steadies
Exchange

Sri Lankan rupee steadies

The Sri Lankan rupee closed steady on Wednesday in dull trade, as demand for dollars from importers and banks offset conversion of the US currency by exporters, dealers said. The spot rupee, which traded at 153.80 per dollar during the day, ended at 153.7
Published 04 Jan, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 82.70-82.70 (Previous 82.70-82.70).
Published 04 Jan, 2018 12:00am
Dollar slides over three-month low in New York
Exchange

Dollar slides over three-month low in New York

The dollar dropped on Tuesday to its lowest in more than three months, weighed down on the first trading day of 2018 by expectations of a slower pace of interest rate increases by the Federal Reserve amid a tepid US inflation picture. The dollar's decline
Published 04 Jan, 2018 12:00am
Early trade in New York: dollar rebounds after strong US data
Currency

Early trade in New York: dollar rebounds after strong US data

The dollar rallied on Wednesday after upbeat US manufacturing and construction data, snapping a three-week losing streak as investors awaited the release of the Federal Reserve's December policy meeting minutes. The US currency was on track to post its la
Published 04 Jan, 2018 12:00am
Dollar springs back in European trade
Currency

Dollar springs back in European trade

The dollar bounced on Wednesday, snapping a three-week losing streak as investors consolidated positions before manufacturing data and minutes of a December US Federal Reserve meeting due later in the day. But despite the dollar's rebound, market strategi
Published 04 Jan, 2018 12:00am
Euro eases in Asia; dollar holds steady
Currency

Euro eases in Asia; dollar holds steady

The euro eased on Wednesday to take a breather from a rally prompted by optimism over the euro zone's economy and expectations the European Central Bank will wind down its bond-buying stimulus in 2018. The euro slipped 0.1 percent to $1.2048. The currency
Published 04 Jan, 2018 12:00am
US factory, construction data brighten economic outlook

US factory, construction data brighten economic outlook

US factory activity increased more than expected in December, boosted by a surge in new orders growth, in a further sign of strong economic momentum at the end of 2017. The economy's robust fundamentals were also underscored by other data on Wednesday sho
Published 04 Jan, 2018 12:00am
Ford posts higher US sales in December; GM, FCA down

Ford posts higher US sales in December; GM, FCA down

Ford posted a surprise increase in December auto sales, while General Motors and Fiat Chrysler saw declines, the companies reported on Wednesday. The results - better than anticipated for Ford and GM and about as expectated for FCA - caps a year in which
Published 04 Jan, 2018 12:00am
China's Ant Financial drops MoneyGram deal as US approval fails

China's Ant Financial drops MoneyGram deal as US approval fails

Ant Financial, an affiliate of Chinese internet titan Alibaba, has been forced to abandon a $1.2 billion deal to buy US remittances firm MoneyGram after failing to get approval from regulators in Washington. The decision by the Committee on Foreign Invest
Published 04 Jan, 2018 12:00am
Palestinian Authority agrees to restore Gaza electricity payments

Palestinian Authority agrees to restore Gaza electricity payments

The Palestinian Authority said Wednesday it had agreed to restore payments for electricity in the Gaza Strip after a cut in June worsened a power crisis in the blockaded enclave. The electricity payments have been a key issue in ongoing efforts at reconci
Published 04 Jan, 2018 12:00am
Ryanair flies record passengers despite cancellations

Ryanair flies record passengers despite cancellations

Ryanair flew a record-high 129 million passengers last year, the Irish no-frills airline said Wednesday, despite cancelling thousands of flights because of a pilots shortage. Ryanair increased by 10 percent the number of passengers flown mainly across Eur
Published 04 Jan, 2018 12:00am
Spotify hit with new copyright suit in US

Spotify hit with new copyright suit in US

A music publisher is seeking at least $1.6 billion from Spotify for alleged copyright violations, the latest lawsuit to hit the fast-growing streaming company. Wixen Music Publishing, Inc - which holds rights to songs of major artists including Neil Young
Published 04 Jan, 2018 12:00am
Deutsche Bank faces new 740 million-euro claim

Deutsche Bank faces new 740 million-euro claim

Investors are suing Germany's biggest lender Deutsche Bank for 740 million euros, alleging they were underpaid for shares in subsidiary Postbank, local media reported Wednesday. At the heart of the suit is the question of when Deutsche took control of Pos
Published 04 Jan, 2018 12:00am
Petrobras settles US corruption class action for $2.95 billion

Petrobras settles US corruption class action for $2.95 billion

Petroleo Brasileiro SA, Brazil's state-controlled oil company, said on Wednesday it has agreed to pay $2.95 billion to settle a US class action brought by investors who claim they lost money as a result of a corruption scandal. Petrobras, as the company i
Published 04 Jan, 2018 12:00am
European wheat futures edge lower

European wheat futures edge lower

Benchmark European wheat futures edged lower on Tuesday to set a new contract low, as fresh gains for the euro underlined a tough export context and offset support from a weather-driven rally in Chicago. March milling wheat, the most active contract on Pa
Published 04 Jan, 2018 12:00am
Music sales soar in US, as streaming takes over market

Music sales soar in US, as streaming takes over market

Music sales grew at a robust pace for a third straight year in the United States in 2017 as listeners kept flocking to streaming outlets, an industry monitor said Wednesday. Analytical firm BuzzAngle Music said that consumption in the world's largest musi
Published 04 Jan, 2018 12:00am
US FOB Gulf corn, soya bids higher

US FOB Gulf corn, soya bids higher

Basis bids for corn and soyabeans shipped by barge to the US Gulf Coast were mostly higher on Tuesday as icy conditions on the Illinois River limited supplies available to exporters, traders said. Some barges were still navigating southern portions of the
Published 04 Jan, 2018 12:00am
Cotton market: prices firmer on arrival of PCGA report
Cotton

Cotton market: prices firmer on arrival of PCGA report

Cotton prices sustained firm posture on the local market on Wednesday after arrival of the Pakistan Cotton Ginners Association (PCGA) fortnightly report, dealers said. The official spot rate was higher by Rs 200 to Rs 7800, they said. In ready session, ov
Published 04 Jan, 2018 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 184,499 tonnes of cargo comprising 144,211 tonnes of import cargo and 40,288 tonnes of export cargo including 8,371 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 04 Jan, 2018 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,253. The traded value of Metals, Energy and COTS/FX was recorded at PKR 3.205 billion and the number of lots traded was 8,160.
Published 04 Jan, 2018 12:00am
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