News Archives for Print - 2018-02-19 - Business Recorder

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Print - 2018-02-19

Plantation Project: KP government presents statistics of only over 200 million plants

Plantation Project: KP government presents statistics of only over 200 million plants

The provincial government of Khyber Pakhtunkhwa has presented the record of only over 200 million trees planted during the triumphant Billion Tsunami Tree Plantation (BTTP) Project in the province. The leadership of PTI and provincial government of Khyber

Published 19 Feb, 2018 12:00am

Health week 44 camps to be set up at Faisalabad district

Health week 44 camps to be set up at Faisalabad district

The 2nd health week would be observed from 19 to 24 February in the district and 44 health camps would be set up at different THQ hospitals, rural and basic health centers for the medical examination of the people. This was informed by Deputy Commissioner

Published 19 Feb, 2018 12:00am

Loud echo of Lodhran by-poll to be heard in 2018 election: Shahbaz

Loud echo of Lodhran by-poll to be heard in 2018 election: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that the loud echo of the Lodhran bye-election result will be heard in the 2018 general elections, every constituency of Pakistan will act as the Lodhran constituency did and Imran Khan should know ve

Published 19 Feb, 2018 12:00am

Two terror suspects arrested in D I Khan

Two terror suspects arrested in D I Khan

The Counter Terrorism Department (CTD) of Khyber Pakhtunkhwa police on Sunday claimed to have arrested two terror suspects during a raid in Dera Ismail Khan. According to a CTD official, the arrested suspects were involved in a terror attack on security p

Published 19 Feb, 2018 12:00am

PRGMEA urges government to set up display centres abroad

PRGMEA urges government to set up display centres abroad

Chief Co-ordinator of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar has urged upon the government to take initiatives for setting up display centres in Dubai and Rotterdam for bringing boom in the export. Talk

Published 19 Feb, 2018 12:00am

Nawaz never bothered to reform judicial system: JI chief

Nawaz never bothered to reform judicial system: JI chief

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has said that the ousted Prime Minister Nawaz Sharif had no moral ground to talk of the weaknesses of the judicial system because he had failed to improve the system during his three terms in office. Accordin

Published 19 Feb, 2018 12:00am

Gwadar Port to herald a new era of prosperity: Asif

Gwadar Port to herald a new era of prosperity: Asif

Foreign Minister Khawaja Muhammad Asif on Sunday said that the government was utilizing all available resources for improving the means of communication evenly in urban and rural parts of the country. Addressing laptop distribution ceremony at Government

Published 19 Feb, 2018 12:00am

Corporate Governance Code

Corporate Governance Code

Apropos an article "The 'three' in second line of corporate hierarchy" carried by Business Recorder on February 12, written by prominent Lawyer and Corporate Counsel Qaiser Mufti criticizing substitutable duties and responsibilities of the Company

Published 19 Feb, 2018 12:00am

Myanmar farmers going against the grain with apps

Myanmar farmers going against the grain with apps

A free app on farmer San San Hla's smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years. As she watches her workers haul in this year's harvest, the 35-year-old

Published 19 Feb, 2018 12:00am

Water woes

Water woes

Pakistan has surpassed Ethiopia in water scarcity. In the next seven years Pakistan will experience water shedding worse than electricity load shedding with water load shedding for up to several hours. If this is not a socio-economic bombshell than nothin

Published 19 Feb, 2018 12:00am

Privatisation and the PML-N

Privatisation and the PML-N

The general perception is that Pakistan Muslim League-Nawaz (PML-N) is supported by the business community - a perception backed by the community's overt support for the party, the party's manifesto that has changed little in this respect and key relevant

Published 19 Feb, 2018 12:00am

An unnecessary restriction

An unnecessary restriction

The recently energized accountability mechanism seems to be getting overly enthused. Last Wednesday the National Accountability Bureau (NAB) asked the interior ministry to put the names of ousted prime minister Nawaz Sharif, his daughter Maryam Nawaz, and

Published 19 Feb, 2018 12:00am

Eleventh five-year plan targets

Eleventh five-year plan targets

According to an internal assessment of the Planning Commission, the PML-N administration missed all major macroeconomic targets set in the eleventh five-year plan: growth rate of agriculture sector registered 2.1 percent against the target of 3.5 percent,

Published 19 Feb, 2018 12:00am

Five killed in attack on church in Dagestan

Five killed in attack on church in Dagestan

Five women were shot dead in an apparent radical Islamist attack on an Orthodox church in the North Caucasus region of Dagestan on Sunday, officials and local media said. According to local press reports an unidentified gunman fired at worshippers at an O

Published 19 Feb, 2018 12:00am

Five killed in attack on church in Dagestan

Five killed in attack on church in Dagestan

Five women were shot dead in an apparent radical Islamist attack on an Orthodox church in the North Caucasus region of Dagestan on Sunday, officials and local media said. According to local press reports an unidentified gunman fired at worshippers at an O

Published 19 Feb, 2018 12:00am

PPP rejects proposed privatization of PIA & PSM

PPP rejects proposed privatization of PIA & PSM

The Pakistan Peoples Party (PPP) on Sunday reiterated that it would strongly resist and reject the decision of Pakistan Muslim League-Nawaz (PML-N) government to privatize Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM).

Published 19 Feb, 2018 12:00am

PPP rejects proposed privatization of PIA & PSM

PPP rejects proposed privatization of PIA & PSM

The Pakistan Peoples Party (PPP) on Sunday reiterated that it would strongly resist and reject the decision of Pakistan Muslim League-Nawaz (PML-N) government to privatize Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM).

Published 19 Feb, 2018 12:00am

PPP rejects proposed privatization of PIA & PSM

PPP rejects proposed privatization of PIA & PSM

The Pakistan Peoples Party (PPP) on Sunday reiterated that it would strongly resist and reject the decision of Pakistan Muslim League-Nawaz (PML-N) government to privatize Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM).

Published 19 Feb, 2018 12:00am

Israeli fire kills two in Gaza

Israeli fire kills two in Gaza

Israeli forces shot dead two Palestinian teenagers in the Gaza Strip, medical sources said Sunday, as tensions rose after an apparent bomb attack that wounded several Israeli soldiers on the enclave's border. The Saturday explosion and ensuing Israeli air

Published 19 Feb, 2018 12:00am

Israeli fire kills two in Gaza

Israeli fire kills two in Gaza

Israeli forces shot dead two Palestinian teenagers in the Gaza Strip, medical sources said Sunday, as tensions rose after an apparent bomb attack that wounded several Israeli soldiers on the enclave's border. The Saturday explosion and ensuing Israeli air

Published 19 Feb, 2018 12:00am

PD directed to work out modalities for Rs 3 billion LDs waiver

PD directed to work out modalities for Rs 3 billion LDs waiver

The Economic Co-ordination Committee (ECC) of the Cabinet has directed Petroleum Division to work out modalities for waiver of Liquidated Damages (LDs) of Rs 3 billion to be recovered from consumers against non-supply of gas to Habibullah Coastal Power Co

Published 19 Feb, 2018 12:00am

PD directed to work out modalities for Rs 3 billion LDs waiver

PD directed to work out modalities for Rs 3 billion LDs waiver

The Economic Co-ordination Committee (ECC) of the Cabinet has directed Petroleum Division to work out modalities for waiver of Liquidated Damages (LDs) of Rs 3 billion to be recovered from consumers against non-supply of gas to Habibullah Coastal Power Co

Published 19 Feb, 2018 12:00am

PD directed to work out modalities for Rs 3 billion LDs waiver

PD directed to work out modalities for Rs 3 billion LDs waiver

The Economic Co-ordination Committee (ECC) of the Cabinet has directed Petroleum Division to work out modalities for waiver of Liquidated Damages (LDs) of Rs 3 billion to be recovered from consumers against non-supply of gas to Habibullah Coastal Power Co

Published 19 Feb, 2018 12:00am

'Do not test Israel', Netanyahu tells Iran

'Do not test Israel', Netanyahu tells Iran

Israeli Prime Minister Benjamin Netanyahu warned Tehran on Sunday over aggressions by what he called Iran and its "proxies" in Syria, while showing what he claimed was a piece of an Iranian drone shot down in Israeli airspace. Saying he had "a message to

Published 19 Feb, 2018 12:00am

'Do not test Israel', Netanyahu tells Iran

'Do not test Israel', Netanyahu tells Iran

Israeli Prime Minister Benjamin Netanyahu warned Tehran on Sunday over aggressions by what he called Iran and its "proxies" in Syria, while showing what he claimed was a piece of an Iranian drone shot down in Israeli airspace. Saying he had "a message to

Published 19 Feb, 2018 12:00am

PTI confirms Imran's third marriage with Bushra Maneka

PTI confirms Imran's third marriage with Bushra Maneka

Pakistan Tehreek-e-Insaf (PTI) on Sunday night confirmed party chairman Imran Khan's third marriage with Bushra Bibi. "Wishing Chairman @ImranKhanPTI and his wife a happy married life. May Allah bless the couple," read a tweet on PTI's official Twitter ha

Published 19 Feb, 2018 12:00am

PTI confirms Imran's third marriage with Bushra Maneka

PTI confirms Imran's third marriage with Bushra Maneka

Pakistan Tehreek-e-Insaf (PTI) on Sunday night confirmed party chairman Imran Khan's third marriage with Bushra Bibi. "Wishing Chairman @ImranKhanPTI and his wife a happy married life. May Allah bless the couple," read a tweet on PTI's official Twitter ha

Published 19 Feb, 2018 12:00am

Futures spread down by 148 basis points

Futures spread down by 148 basis points

The futures spread declined by 148bps to 7.23 percent on the last day of outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 29.5 percent to 38.19 million shares. The average daily trading value als

Published 19 Feb, 2018 12:00am

Futures spread down by 148 basis points

Futures spread down by 148 basis points

The futures spread declined by 148bps to 7.23 percent on the last day of outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 29.5 percent to 38.19 million shares. The average daily trading value als

Published 19 Feb, 2018 12:00am

Equities remain in red zone

Exchange

Equities remain in red zone

Pakistan Stock Exchange remained under pressure during the outgoing week ended on February 16, 2018 due to selling in various sectors. BRIndex100 lost 14.33 points on week-on-week basis to close at 4,679.18 points. The average daily volumes stood at 168.1

Published 19 Feb, 2018 12:00am

Equities remain in red zone

Exchange

Equities remain in red zone

Pakistan Stock Exchange remained under pressure during the outgoing week ended on February 16, 2018 due to selling in various sectors. BRIndex100 lost 14.33 points on week-on-week basis to close at 4,679.18 points. The average daily volumes stood at 168.1

Published 19 Feb, 2018 12:00am

Equities remain in red zone

Exchange

Equities remain in red zone

Pakistan Stock Exchange remained under pressure during the outgoing week ended on February 16, 2018 due to selling in various sectors. BRIndex100 lost 14.33 points on week-on-week basis to close at 4,679.18 points. The average daily volumes stood at 168.1

Published 19 Feb, 2018 12:00am

Power generation: ban imposed on new projects

Power generation: ban imposed on new projects

The government has imposed ban on new power generation projects on the assumption that there would be surplus power in the country after completion of on-going projects. This decision was taken at a meeting of Cabinet Committee on China Pakistan Economic

Published 19 Feb, 2018 12:00am

Power generation: ban imposed on new projects

Power generation: ban imposed on new projects

The government has imposed ban on new power generation projects on the assumption that there would be surplus power in the country after completion of on-going projects. This decision was taken at a meeting of Cabinet Committee on China Pakistan Economic

Published 19 Feb, 2018 12:00am

Power generation: ban imposed on new projects

Power generation: ban imposed on new projects

The government has imposed ban on new power generation projects on the assumption that there would be surplus power in the country after completion of on-going projects. This decision was taken at a meeting of Cabinet Committee on China Pakistan Economic

Published 19 Feb, 2018 12:00am

FBR to employ risk-based audit selection mechanism

FBR to employ risk-based audit selection mechanism

The Federal Board of Revenue (FBR) is likely to select taxpayers for audit (Tax Year 2018) on the basis of risk-based audit selection mechanism, categorizing taxpayers into Red, Yellow and Green Zones where highly mismatched declarations (Red Zone) would

Published 19 Feb, 2018 12:00am

FBR to employ risk-based audit selection mechanism

FBR to employ risk-based audit selection mechanism

The Federal Board of Revenue (FBR) is likely to select taxpayers for audit (Tax Year 2018) on the basis of risk-based audit selection mechanism, categorizing taxpayers into Red, Yellow and Green Zones where highly mismatched declarations (Red Zone) would

Published 19 Feb, 2018 12:00am

FBR to employ risk-based audit selection mechanism

FBR to employ risk-based audit selection mechanism

The Federal Board of Revenue (FBR) is likely to select taxpayers for audit (Tax Year 2018) on the basis of risk-based audit selection mechanism, categorizing taxpayers into Red, Yellow and Green Zones where highly mismatched declarations (Red Zone) would

Published 19 Feb, 2018 12:00am

September-December 2017: external borrowing challenge grows

September-December 2017: external borrowing challenge grows

Reliance on external borrowing was a whopping $ 3.8 billion September-December 2017 - a month after Shahid Khaqan Abbasi took over as the country''s chief executive. External debt and liabilities rose from $83.092 billion by end June 2017 to $85.087 billi

Published 19 Feb, 2018 12:00am

September-December 2017: external borrowing challenge grows

September-December 2017: external borrowing challenge grows

Reliance on external borrowing was a whopping $ 3.8 billion September-December 2017 - a month after Shahid Khaqan Abbasi took over as the country's chief executive. External debt and liabilities rose from $83.092 billion by end June 2017 to $85.087 billio

Published 19 Feb, 2018 12:00am

September-December 2017: external borrowing challenge grows

September-December 2017: external borrowing challenge grows

Reliance on external borrowing was a whopping $ 3.8 billion September-December 2017 - a month after Shahid Khaqan Abbasi took over as the country's chief executive. External debt and liabilities rose from $83.092 billion by end June 2017 to $85.087 billio

Published 19 Feb, 2018 12:00am

Prime Minister optimistic about electoral prospects

Prime Minister optimistic about electoral prospects

Prime Minister Shahid Khaqan Abbasi on Sunday strongly rejected all speculations about the formation of groups within the Pakistan Muslim League-Nawaz (PML-N), maintaining that the party would contest the upcoming general elections on the basis of its per

Published 19 Feb, 2018 12:00am

Prime Minister optimistic about electoral prospects

Prime Minister optimistic about electoral prospects

Prime Minister Shahid Khaqan Abbasi on Sunday strongly rejected all speculations about the formation of groups within the Pakistan Muslim League-Nawaz (PML-N), maintaining that the party would contest the upcoming general elections on the basis of its per

Published 19 Feb, 2018 12:00am

Nawaz too talks about 'umpire's finger'

Nawaz too talks about 'umpire's finger'

Former prime minister Nawaz Sharif said on Sunday that politicians who rely on 'umpire's finger' will have no ballot papers in their favour in the July general elections. In his address at a public meeting here, Nawaz said, those who believe that their fa

Published 19 Feb, 2018 12:00am

Nawaz too talks about 'umpire's finger'

Nawaz too talks about 'umpire's finger'

Former prime minister Nawaz Sharif said on Sunday that politicians who rely on 'umpire's finger' will have no ballot papers in their favour in the July general elections. In his address at a public meeting here, Nawaz said, those who believe that their fa

Published 19 Feb, 2018 12:00am

THE RUPEE: modest gains

Currency

THE RUPEE: modest gains

The rupee managed to gain modestly against the dollar on the money market during the week, ended on February 17, 2018. In the open market, the rupee picked up 20 paisas in relation to the dollar for buying and selling Rs 111.30 and Rs 111.60. The rupee, h

Published 19 Feb, 2018 12:00am

THE RUPEE: modest gains

Currency

THE RUPEE: modest gains

The rupee managed to gain modestly against the dollar on the money market during the week, ended on February 17, 2018. In the open market, the rupee picked up 20 paisas in relation to the dollar for buying and selling Rs 111.30 and Rs 111.60. The rupee, h

Published 19 Feb, 2018 12:00am

All 65 passengers, crew feared dead in Iranian plane crash

All 65 passengers, crew feared dead in Iranian plane crash

All 65 passengers and crew were feared dead in a plane crash in central Iran on Sunday after the domestic flight came down in bad weather in a mountainous region. A spokesman for Iranian carrier Aseman Airlines had told state television everyone was kille

Published 19 Feb, 2018 12:00am

All 65 passengers, crew feared dead in Iranian plane crash

All 65 passengers, crew feared dead in Iranian plane crash

All 65 passengers and crew were feared dead in a plane crash in central Iran on Sunday after the domestic flight came down in bad weather in a mountainous region. A spokesman for Iranian carrier Aseman Airlines had told state television everyone was kille

Published 19 Feb, 2018 12:00am

The Weather

The Weather

The weather report on Sunday (February 18, 2018) and the forecast for Monday (February 19, 2018).

Published 19 Feb, 2018 12:00am

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

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

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

Published 19 Feb, 2018 12:00am

Your rupee last week

Exchange

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (February 12 to 16, 2018).

Published 19 Feb, 2018 12:00am

Aaj TV - Monday's schedule

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 19 Feb, 2018 12:00am

High levels of cellphone radiation linked to tumors in male rats: US study

High levels of cellphone radiation linked to tumors in male rats: US study

Male rats exposed to very high levels of the kind of radiation emitted by cellphones developed tumors in the tissues around their hearts, according to a draft report by U.S. government researchers on the potential health risks of the devices. Female rats

Published 19 Feb, 2018 12:00am

Shellfish reefs: Australia's untold environmental Disaster

Shellfish reefs: Australia's untold environmental Disaster

Virtually all of Australia's shellfish reefs have disappeared, making them the country's most threatened ocean ecosystem, scientists said on Thursday, calling for more investment to rescue the important marine habitats. While recent global focus has been

Published 19 Feb, 2018 12:00am

Japan scientist uses egg white for clean energy

Japan scientist uses egg white for clean energy

A Japanese scientist said on Thursday his team has cracked open a method to improve the production of carbon-free energy - by using proteins taken from egg white. Yusuke Yamada, a professor at Osaka City University, said his team has managed to use protei

Published 19 Feb, 2018 12:00am

Extreme weather to rise even if Paris goals met: study

Extreme weather to rise even if Paris goals met: study

The risk of extreme weather such as heat waves, floods and drought will rise significantly even if the commitments in the 2015 Paris climate accord are met, a study warned on Wednesday. The report in the journal Science Advances analyzes the likelihood of

Published 19 Feb, 2018 12:00am

Mild shock therapy may ease anxiety, depression

Mild shock therapy may ease anxiety, depression

People with anxiety and depression might feel a little better after they get mild electric shock therapy, but it's unclear how much it will help or whether this treatment might ease other conditions, researchers say. The therapy, known as cranial electric

Published 19 Feb, 2018 12:00am

For global water crisis, climate may be the last straw

For global water crisis, climate may be the last straw

Before man-made climate change kicked in and well before "Day Zero" in Cape Town, where taps may run dry in early May the global water crisis was upon us. Freshwater resources around the world were already badly stressed before heat-trapping carbon emissi

Published 19 Feb, 2018 12:00am

Spectrum policies impacting quality of mobile services to consumers in Latin America: GSMA report

Spectrum policies impacting quality of mobile services to consumers in Latin America: GSMA report

The GSMA February 15 issued a new report, 'Effective Spectrum Pricing in Latin America: Policies to support better quality and more affordable mobile services,' highlighting that spectrum policies in Latin America are impacting the delivery of quality mob

Published 19 Feb, 2018 12:00am

Volkswagen looks at Apple for electric-car design guidance

Volkswagen looks at Apple for electric-car design guidance

Volkswagen is looking at Apple products for guidance on how to style its new generation of electric cars, its top designer said, as the automaker aims to turn profits on battery-powered vehicles when they launch in 2020. The US tech giant has brought abou

Published 19 Feb, 2018 12:00am

Google to debut emails that automatically update

Google to debut emails that automatically update

Gmail is about to get dynamic. Alphabet Inc's Google on Tuesday plans to demonstrate a software programming system that would enable emails to feature continuously updating information and greater interactivity. Users could see automatically updated fligh

Published 19 Feb, 2018 12:00am

Google begins blocking annoying ads on its browser

Google begins blocking annoying ads on its browser

Google has begun a new effort to block annoying ads on its Chrome browser, as part of an initiative aimed at improving the online advertising ecosystem that provides the bulk of its revenues. The new ad filtering system rolled out this week aims to elimin

Published 19 Feb, 2018 12:00am

Google takes on Snapchat with its own 'Stories' format

Google takes on Snapchat with its own 'Stories' format

Google launched its own "stories" format Tuesday to compete with Snapchat and Instagram with image-driven news articles aimed at mobile phone and tablet users. Content for its "AMP stories" initially comes from outlets like CNN, The Washington Post, Conde

Published 19 Feb, 2018 12:00am

Toshiba tips return to black after chip, nuclear unit sales

Toshiba tips return to black after chip, nuclear unit sales

Troubled Japanese conglomerate Toshiba said on Wednesday it would swing into the black for the full fiscal year as it completes the multi-billion-dollar sale of its chip business to restore its balance sheet. The Tokyo-based firm said it now expects a net

Published 19 Feb, 2018 12:00am

French start-up Sigfox faces 5G juggernaut in Internet of Things

French start-up Sigfox faces 5G juggernaut in Internet of Things

French start-up Sigfox, which builds networks to connect washing machines and other objects to the internet, says it is struggling to meet its growth targets due to high expectations for alternative, forthcoming 5G services. The company, whose shareholder

Published 19 Feb, 2018 12:00am

Apple's new speaker makes an unwelcome mark in some homes

Apple's new speaker makes an unwelcome mark in some homes

Apple's new internet-connected speaker is proving to be more appealing to the ears than to the eyes, depending on where the device is placed. Some people who bought the just-released $349 speaker, dubbed the HomePod, are reporting that it leaves a white r

Published 19 Feb, 2018 12:00am

Cisco reports first rise in quarterly revenue in over two years

Cisco reports first rise in quarterly revenue in over two years

Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.

Published 19 Feb, 2018 12:00am

Cisco reports first rise in quarterly revenue in over two years

Cisco reports first rise in quarterly revenue in over two years

Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.

Published 19 Feb, 2018 12:00am

Eni holds out promise of richer returns as profits soar

Eni holds out promise of richer returns as profits soar

Italian oil company Eni on Friday held out the promise of stronger returns for shareholders after its profits more than doubled in the fourth quarter and production hit a record high. Like rivals in the oil industry, state-controlled Eni cut spending and

Published 19 Feb, 2018 12:00am

Eni holds out promise of richer returns as profits soar

Eni holds out promise of richer returns as profits soar

Italian oil company Eni on Friday held out the promise of stronger returns for shareholders after its profits more than doubled in the fourth quarter and production hit a record high. Like rivals in the oil industry, state-controlled Eni cut spending and

Published 19 Feb, 2018 12:00am

UAE banks eye end to $22 billion Saudi debt saga

UAE banks eye end to $22 billion Saudi debt saga

Banks in the United Arab Emirates are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia's Saad Group and Ahmad Hamad al-Gosaibi & Bros Co (AHAB) nearly a decade ago, a senior banking official told Reuters.

Published 19 Feb, 2018 12:00am

Saudi Riyad Bank's fourth quarter profit up

Saudi Riyad Bank's fourth quarter profit up

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a huge rise in fourth-quarter net profit on Tuesday, beating analysts' forecasts, boosted by an easing of impairment charges for credit losses. The bank made 974 million riyals ($259.7 mil

Published 19 Feb, 2018 12:00am

Saudi Riyad Bank's fourth quarter profit up

Saudi Riyad Bank's fourth quarter profit up

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a huge rise in fourth-quarter net profit on Tuesday, beating analysts' forecasts, boosted by an easing of impairment charges for credit losses. The bank made 974 million riyals ($259.7 mil

Published 19 Feb, 2018 12:00am

Etisalat fourth quarter profit falls 12 percent

Exchange

Etisalat fourth quarter profit falls 12 percent

UAE telecoms company Etisalat on Wednesday reported a 12 percent fall in fourth-quarter profit, according to Reuters calculations. Etisalat, which directly and indirectly operates in countries across the Middle East, Africa and Asia, made a net profit of

Published 19 Feb, 2018 12:00am

Etisalat fourth quarter profit falls 12 percent

Exchange

Etisalat fourth quarter profit falls 12 percent

UAE telecoms company Etisalat on Wednesday reported a 12 percent fall in fourth-quarter profit, according to Reuters calculations. Etisalat, which directly and indirectly operates in countries across the Middle East, Africa and Asia, made a net profit of

Published 19 Feb, 2018 12:00am

Allianz considers group's stance on coal insurance

Allianz considers group's stance on coal insurance

Germany's Allianz is considering whether to stop insuring new coal power plants but told environmental campaigners it would stay in the business for now. The 22 percent slide in fourth-quarter earnings reported by the insurer on Friday brought into sharp

Published 19 Feb, 2018 12:00am

Amazon cutting hundreds of Seattle jobs in consumer business

Amazon cutting hundreds of Seattle jobs in consumer business

Amazon.com Inc is cutting hundreds of jobs in its consumer business in Seattle, a person familiar with the matter said on Monday, as the company shifts resources into fast-growing areas like its work on voice assistant Alexa.

Published 19 Feb, 2018 12:00am

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posted a 62 percent jump in quarterly profit, its best third-quarter earnings in seven years, but forecast challenging market conditions due to rising fuel prices and aggressive competition from rivals. The carrier, a benchmark for Asia

Published 19 Feb, 2018 12:00am

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posted a 62 percent jump in quarterly profit, its best third-quarter earnings in seven years, but forecast challenging market conditions due to rising fuel prices and aggressive competition from rivals. The carrier, a benchmark for Asia

Published 19 Feb, 2018 12:00am

Lloyds and RBS set ethnic targets for top roles

Lloyds and RBS set ethnic targets for top roles

Britain's two biggest banks have set targets for ethnic minority representation in top roles after criticism of some of the country's largest companies for being opaque about diversity. Lloyds Banking Group said its targets marked the first time a FTSE 10

Published 19 Feb, 2018 12:00am

Number of crypto hedge funds surges amid bitcoin volatility

Exchange

Number of crypto hedge funds surges amid bitcoin volatility

Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash. The number of crypto hedge funds more tha

Published 19 Feb, 2018 12:00am

Number of crypto hedge funds surges amid bitcoin volatility

Exchange

Number of crypto hedge funds surges amid bitcoin volatility

Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash. The number of crypto hedge funds more tha

Published 19 Feb, 2018 12:00am

China central bank buys net 4.5 billion yuan in FX in January

Exchange

China central bank buys net 4.5 billion yuan in FX in January

China's central bank purchased a net 4.5 billion yuan ($710.08 million) worth of foreign exchange in January, the most since October 2015, according to Reuters calculations based on central bank data released on Wednesday. Investors look to the data to es

Published 19 Feb, 2018 12:00am

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ Group has invited international banks to pitch for the sale of $1 billion of shares in the company that manages the aluminium and hydropower businesses of Russian businessmen Oleg Deripaska, three sources said. The inclusion of Deripaska on a

Published 19 Feb, 2018 12:00am

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ Group has invited international banks to pitch for the sale of $1 billion of shares in the company that manages the aluminium and hydropower businesses of Russian businessmen Oleg Deripaska, three sources said. The inclusion of Deripaska on a

Published 19 Feb, 2018 12:00am

Dubai underperforms in sluggish region, rate cut boosts Egypt

Exchange

Dubai underperforms in sluggish region, rate cut boosts Egypt

Dubai's stock market again underperformed in a sluggish Gulf on Sunday while local institutional investors boosted Qatar and Egypt rose after an interest rate cut at the end of last week. Slumping real estate prices have weighed on Dubai's bourse in recen

Published 19 Feb, 2018 12:00am

Turkey's Actera plans IPO for auto firm Actera

Turkey's Actera plans IPO for auto firm Actera

Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter. Actera is considering a fl

Published 19 Feb, 2018 12:00am

Turkey's Actera plans IPO for auto firm Actera

Turkey's Actera plans IPO for auto firm Actera

Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter. Actera is considering a fl

Published 19 Feb, 2018 12:00am

Mosaic network will reward researchers with its own cryptocurrency

Currency

Mosaic network will reward researchers with its own cryptocurrency

A group of academics and technology experts will soon launch a blockchain-powered network that will reward quality research with its own cryptocurrency called Mosaic. Mosaic, the decentralized network, aims to provide research by the first quarter of this

Published 19 Feb, 2018 12:00am

JTC eyes 320 million pound London IPO

JTC eyes 320 million pound London IPO

Financial services business JTC Group is gearing up for a London stock market float that could value the private-equity backed firm at more than 300 million pounds ($414.33 million), according to two sources with knowledge of the matter. Jersey-based JTC,

Published 19 Feb, 2018 12:00am

JTC eyes 320 million pound London IPO

JTC eyes 320 million pound London IPO

Financial services business JTC Group is gearing up for a London stock market float that could value the private-equity backed firm at more than 300 million pounds ($414.33 million), according to two sources with knowledge of the matter. Jersey-based JTC,

Published 19 Feb, 2018 12:00am

Japan policymakers step up warnings over 'one-sided' yen gains

Currency

Japan policymakers step up warnings over 'one-sided' yen gains

Japanese policymakers stepped up warnings against a rising yen on Friday, saying recent moves were one-sided and they would respond appropriately, as worries grow that the buoyant currency could damage the export-reliant economy. Finance Minister Taro Aso

Published 19 Feb, 2018 12:00am

Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Sunday. 82.94-82.94 (Previous 82.94-82.94).

Published 19 Feb, 2018 12:00am

S&P will post negative return in 2018: DoubleLine's Gundlach

S&P will post negative return in 2018: DoubleLine's Gundlach

While US stocks are now in an "accelerating phase," billionaire investor Jeffrey Gundlach is predicting that the S&P 500 will post a negative rate of return in 2018. One of the best investments for 2018 will be commodities, Gundlach, chief executive of Do

Published 19 Feb, 2018 12:00am

Wall Street week ahead: stock volatility: back with a bang and here to stay

Exchange

Wall Street week ahead: stock volatility: back with a bang and here to stay

US stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear. Stock market volatility sp

Published 19 Feb, 2018 12:00am

Spanish cheesemakers defend Manchego from Mexican 'copy'

Spanish cheesemakers defend Manchego from Mexican 'copy'

In central Spain, the arid plains of La Mancha are famous for their windmills and Manchego, a cheese made out of ewe's milk that is one of the best-known representatives of the country's gastronomy. But local producers there are furious with Mexico which

Published 19 Feb, 2018 12:00am

Israeli, US officials meet over gas row with Lebanon

Israeli, US officials meet over gas row with Lebanon

Israeli Energy Minister Yuval Steinitz met Sunday with a senior United States official seeking to defuse an escalating oil and gas dispute with Lebanon, his office said. A statement from his spokesman said Steinitz held talks with Acting Assistant Secreta

Published 19 Feb, 2018 12:00am

Abuse or jobless: stark choice for many Philippine domestics

Abuse or jobless: stark choice for many Philippine domestics

After the murder of a Philippine maid in Kuwait, domestic helpers are streaming back to Manila with tales of abusive employers - but many are still prepared to take their chances overseas again. For them, the sometimes brutal conditions and the hide-and-s

Published 19 Feb, 2018 12:00am

Reliance, global tech firms to invest $9.3 billion in industrial area

Reliance, global tech firms to invest $9.3 billion in industrial area

India's Reliance Industries Ltd and global technology companies will invest 600 billion rupees ($9.34 billion) over 10 years to set up an integrated industrial area in the western state of Maharashtra, the company's chairman Mukesh Ambani said. More than

Published 19 Feb, 2018 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 4	277.97
USD PKR Interbank Buying / Dec 4	277.77
USD to Japanese Yen / Dec 4	150.37
USD to Swiss Franc / Dec 4	0.89
Pound Sterling to USD / Dec 4	1.27
Euro to USD / Dec 4	1.05

Stock	Volume
S&P 500 / Dec 3	6,049.87
Nasdaq / Dec 3	19,480.91
Dow Jones / Dec 3	44,705.53
India Sensex / Dec 4	80,956.33
Tokyo Nikkei / Dec 4	39,276.39
Hang Seng / Dec 4	19,742.46
FTSE 100 / Dec 4	8,328.12
Germany DAX 30 / Dec 4	20,195.75

Item	Value
Karachi Cotton PKR/37.32 KG / Dec 3	17,685
Crude Oil USD/Barrel / Dec 4	70.17
Gold 10 Grams PKR / Dec 4	235,940
Gold Spot USD/Ounce / Dec 4	2,644.45
Cotton US¢/pound / Dec 4	71.11
Petrol/Litre / Dec 5	252.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	7.17 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	639.72 ▼ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	64.26 ▼ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	151.49 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	1,117.32 ▼ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	13.57 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	7.17 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	639.72 ▲ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	64.26 ▲ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	151.49 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	1,117.32 ▲ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	13.57 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Dec 5 Worldcall Telecom Limited(WTL)	257,531,069 ▲ 0.00
Cnergyico PK / Dec 5 Cnergyico PK Limited(CNERGY)	213,200,271 ▲ 0.00
Pak Int.Bulk / Dec 5 Pakistan International Bulk Terminal(PIBTL)	89,650,764 ▲ 0.00
Pak Elektron / Dec 5 Pak Elektron Limited(PAEL)	75,744,156 ▲ 0.00
Power Cement / Dec 5 Power Cement Limited(POWER)	69,203,491 ▲ 0.00
Pak Refinery / Dec 5 Pakistan Refinery Limited(PRL)	58,983,939 ▲ 0.00
Sui South Gas / Dec 5 Sui Southern Gas Company Limited(SSGC)	37,808,495 ▲ 0.00
Symmetry Group / Dec 5 Symmetry Group Limited(SYM)	34,391,285 ▲ 0.00
TPL Properties / Dec 5 TPL Properties Limited(TPLP)	33,952,255 ▲ 0.00

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FBR imposes new condition on overseas Pakistanis

FBR imposes new condition on overseas Pakistanis

NJLI Sarmaya Growth Fund Rates

Aurangzeb calls for taxing wholesale, retail sectors

Aurangzeb calls for taxing wholesale, retail sectors

World Bank estimates total external debt stocks at $130.847bn by end 2023

World Bank estimates total external debt stocks at $130.847bn by end 2023

Govt says IMF programme facing no disruptions

Govt says IMF programme facing no disruptions

Banks’ ADR recorded at 47pc as of Nov 15th

Banks’ ADR recorded at 47pc as of Nov 15th

FBR tells SC: Rs880m recovered from people holding foreign accounts, properties

FBR tells SC: Rs880m recovered from people holding foreign accounts, properties

Another significant cut in key policy rate expected as inflation eases

Another significant cut in key policy rate expected as inflation eases

Pakistan defers LNG contract with Qatar for a year, petroleum minister says

Pakistan defers LNG contract with Qatar for a year, petroleum minister says