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Dec 04, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-02-20
Year ended December 31, 2017: UBL posts Rs 25.421 billion PAT
Exchange

Year ended December 31, 2017: UBL posts Rs 25.421 billion PAT

The profit after tax of United Bank Limited stood at Rs 25.421 billion in the year ended December 31, 2017 as compared to Rs 27.730 billion earned in the same period in 2016. The banks earning per share stood at Rs 20.77 in the period under review against
Published 20 Feb, 2018 12:00am
Year ended December 31, 2017: UBL posts Rs 25.421 billion PAT
Exchange

Year ended December 31, 2017: UBL posts Rs 25.421 billion PAT

The profit after tax of United Bank Limited stood at Rs 25.421 billion in the year ended December 31, 2017 as compared to Rs 27.730 billion earned in the same period in 2016. The banks earning per share stood at Rs 20.77 in the period under review against
Published 20 Feb, 2018 12:00am
Access to WHT info: FBR seeks SBP's help

Access to WHT info: FBR seeks SBP's help

The Federal Board of Revenue (FBR) has decided to approach the State Bank of Pakistan (SBP) to pursue banks for reporting of person-wise and transaction-wise withholding tax information. Sources told Business Recorder Monday that the issue of repor
Published 20 Feb, 2018 12:00am
KP Assembly forms special panel to review KPEC affairs

KP Assembly forms special panel to review KPEC affairs

Khyber Pakhtunkhwa Assembly Monday referred a question regarding non-appointment of full-time Director General (DG) for the provincial flagship agency KP Ehtesab Commission and unlawful continuation of the Acting head of the commission on his post to a sp
Published 20 Feb, 2018 12:00am
KP CM to inaugurate PAF project in Swabi today

KP CM to inaugurate PAF project in Swabi today

A huge project of Pakistan Air Force (PAF) near Indus River in district Swabi would be inaugurated by Khyber Pakhtunkhwa Chief Minister, Pervez Khattak during his visit to the district today, said PTI leader on Monday. PTI leader said that the CM was expe
Published 20 Feb, 2018 12:00am
Grievances of Pakhtuns: Sherpao urges government to take serious notice

Grievances of Pakhtuns: Sherpao urges government to take serious notice

Qaumi Watan Party Chairman Aftab Ahmed Khan Sherpao has urged federal government to take serious notice of step-motherly treatment with Pakhtuns in the country and ensure protection of their lives and properties to overcome increasing unrest among them. T
Published 20 Feb, 2018 12:00am
Security forces kill suicide bomber, accomplice in Bajaur Agency

Security forces kill suicide bomber, accomplice in Bajaur Agency

Security forces on Monday foiled a major terror bid in Bajaur Agency and killed two suicide bombers during operation. According to reports, on a tip-off, the security forces conducted a successful raid in Gutki area of Mamoond district. The suicide bomber
Published 20 Feb, 2018 12:00am
NAB initiates inquiry against federal minister Durrani

NAB initiates inquiry against federal minister Durrani

National Accountability Bureau (NAB) chairman Javed Iqbal on directed on Monday to initiate an inquiry against Federal Minister for Housing and Works Akram Khan Durrani. According to a statement issued here by the top anti-graft body, the minister was acc
Published 20 Feb, 2018 12:00am
'Jazz Smart school' programme launched

'Jazz Smart school' programme launched

Jazz Foundation in partnership with the Capital Administration & Development Division (CADD) and Federal Directorate of Education (FDE) on Monday launched 'Jazz Smart School' programme to introduce smart learning solution to the traditional schooling syst
Published 20 Feb, 2018 12:00am
Russian envoy explains how bilateral trade can expand
Exchange

Russian envoy explains how bilateral trade can expand

Russian Ambassador in Pakistan, Alexey Y Dedov said that the bilateral trade volume between Russia and Pakistan has improved by initiating various projects in the country, which would be further strengthened by mutual economic cooperation and exchanging o
Published 20 Feb, 2018 12:00am
24th death anniversary of Amir Hamza Khan observed

24th death anniversary of Amir Hamza Khan observed

The 24th death anniversary of great Pashto poet and Baba-e-Ghazal Amir Hamza Khan Shinwari observed here in Landi Kotal, Khyber Agency. In this connection a literary gathering was organized under the auspices of Hamza Baba Pakhto Adabi Jirga at Hamza Baba
Published 20 Feb, 2018 12:00am
Research-oriented effort needed to contain UFG: Chairman SSGC

Research-oriented effort needed to contain UFG: Chairman SSGC

Unaccounted-for-Gas (UFG) or line losses is a major menace SSGC and SNGPL have been facing for long time with the result that both the companies are facing financial losses and Pakistan's economy is being impacted in a major way. This was stated by Lieute
Published 20 Feb, 2018 12:00am
HabibMetro Bank posts pre-tax profit of Rs 9.1 billion
Exchange

HabibMetro Bank posts pre-tax profit of Rs 9.1 billion

The Board of Directors of Habib Metropolitan Bank Ltd held a meeting on Friday to approve the financial statements of the Bank for the year ended December 31, 2017. A final cash dividend of 30 percent was declared in the proceedings. The Bank posted a pro
Published 20 Feb, 2018 12:00am
HabibMetro Bank posts pre-tax profit of Rs 9.1 billion
Exchange

HabibMetro Bank posts pre-tax profit of Rs 9.1 billion

The Board of Directors of Habib Metropolitan Bank Ltd held a meeting on Friday to approve the financial statements of the Bank for the year ended December 31, 2017. A final cash dividend of 30 percent was declared in the proceedings. The Bank posted a pro
Published 20 Feb, 2018 12:00am
REAP to organize 'International Buyers' Recognition Awards' in Gulfood

REAP to organize 'International Buyers' Recognition Awards' in Gulfood

Rice Exporters Association of Pakistan (REAP) has announced to organize a mega event, namely "International Buyers' Recognition Awards" ceremony on the sideline of Gulfood 2018 in Dubai. A large number of Pakistani companies associated with food business
Published 20 Feb, 2018 12:00am
Metro, Pink Ribbon mark World Cancer Day

Metro, Pink Ribbon mark World Cancer Day

Metro Cash & Carry Pakistan collaborated with Pink Ribbon (Women's empowerment group) organized a "Pink Ribbon week marking World Cancer Day" starting from 4th February to 11th February 2018. During the week, awareness was provided about breast cancer by
Published 20 Feb, 2018 12:00am
15th convocation of PAF-KIET held

15th convocation of PAF-KIET held

The 15th convocation ceremony of Pakistan Air Force - Karachi Institute of Economics & Technology was held on Friday, 16 February, 2018 at the Convention Centre, PAF Museum, PAF Base Faisal, Karachi. A total of 698 graduates were conferred degrees in the
Published 20 Feb, 2018 12:00am
Fake case: Axact CEO, wife appear before court

Fake case: Axact CEO, wife appear before court

Axact CEO Shoaib Shaikh and his wife have appeared before the additional district and sessions judge (South) after the couple's production orders were issued earlier in the day owing to their no-show in the fake degrees case. As the hearing of the case we
Published 20 Feb, 2018 12:00am
Readymade garment exports up by 14 percent

Readymade garment exports up by 14 percent

The country's export of readymade garments soared by 14 percent to $1.248 billion in July-December 2017, official figures say. Growth in garments export now stands at $148.690 million in July-December 2017 from $1.100 billion in July-December 2016, Pakist
Published 20 Feb, 2018 12:00am
K-E highlights 'friendly initiatives' for industries

K-E highlights 'friendly initiatives' for industries

K-Electric's customer friendly initiatives for industries have reduced the turnaround time for providing new power connection by 30 percent in 2017 as compared to its preceding year. These and other customer-friendly initiatives by KE were also showcased
Published 20 Feb, 2018 12:00am
MCB- Arif Habib signs agreement with Covalent Pvt Ltd
Mutual Funds

MCB- Arif Habib signs agreement with Covalent Pvt Ltd

MCB-Arif Habib Savings and Investments Limited (MCB-AH) has signed an agreement with Covalent Pvt Limited, an Access Group and TPS joint venture to launch Pakistan's first mutual fund with 1LINK enabled PayPak debit card. This technology partnership will
Published 20 Feb, 2018 12:00am
KMBL pre-tax profit increases by 40 percent

KMBL pre-tax profit increases by 40 percent

Khushhali Microfinance Bank Limited (KMBL) announces its financial results for the year 2017 on 14th February 2018 in Islamabad, posting an appreciable growth in bottom line, accompanied with a dividend of Rs 0.53 per share.
Published 20 Feb, 2018 12:00am
KMBL pre-tax profit increases by 40 percent

KMBL pre-tax profit increases by 40 percent

Khushhali Microfinance Bank Limited (KMBL) announces its financial results for the year 2017 on 14th February 2018 in Islamabad, posting an appreciable growth in bottom line, accompanied with a dividend of Rs 0.53 per share.
Published 20 Feb, 2018 12:00am
Humayun Bashir made Chairman of NCCPL board

Humayun Bashir made Chairman of NCCPL board

Humayun Bashir has been elected Chairman of the Board of Directors of National Clearing Company of Pakistan Limited (NCCPL). NCCPL announced the appointment of independent directors and new chairman.
Published 20 Feb, 2018 12:00am
Customs value of pipes and pipe fittings revised

Customs value of pipes and pipe fittings revised

Directorate General Customs Valuation (DGCV) has revised the customs values of UPVC, CPVC, PPRC pipes and pipe fittings under section 25 (9) of the Customs Act, 1969. The customs values of UPVC, CPVC, PPRC pipes and pipe fittings were determined vide valu
Published 20 Feb, 2018 12:00am
Rao Anwar: resolutions against Zardari submitted in Sindh Assembly

Rao Anwar: resolutions against Zardari submitted in Sindh Assembly

A resolution condemning Pakistan Peoples Party Co-chairman Asif Ali Zardari has been submitted in Sindh Assembly on Monday for defending former SSP Malir Rao Anwar. The resolution was tabled by Pakistan Tehreek-e-Insaf's (PTI) Khurram Sher Zaman in which,
Published 20 Feb, 2018 12:00am
Senate stops Fata delimitation process

Senate stops Fata delimitation process

The Senate on Monday asked the government to stop the process of delimitation of constituencies in Federally Administered Tribal Areas (FATA) and conduct the upcoming general elections as per the previous arrangements due to displacement of a large number
Published 20 Feb, 2018 12:00am
Senate elections: Dar to contest for technocrat seat

Senate elections: Dar to contest for technocrat seat

Former finance minister Ishaq Dar has announced to contest the Senate elections from the seat of technocrat while withdrawing his nomination papers from general seat. Dar filed his nomination papers for both the general as well as technocrat seats. Howeve
Published 20 Feb, 2018 12:00am
'Benazir showed you can be a mother and prime minister,' writes Bilawal

'Benazir showed you can be a mother and prime minister,' writes Bilawal

"Benazir Bhutto proved beyond a doubt, with her life and relentless courage, that women can certainly do everything," wrote Bilawal Bhutto Zardari in a column penned for The Guardian, published on Monday. In January, it was learnt that New Zealand Prime M
Published 20 Feb, 2018 12:00am
The Weather

The Weather

The weather report on Monday (February 19, 2018) and the forecast for Tuesday (February 20, 2018).

Published 20 Feb, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
ADB financing for procurement of 300 locomotives sought

ADB financing for procurement of 300 locomotives sought

Pakistan Railways has sought Asian Development Bank (ADB) financing for procurement of 300 locomotives to meet its operational requirements, official sources revealed. Well-placed sources in the Railways Ministry told Business Recorder that Werner
Published 20 Feb, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
ADB financing for procurement of 300 locomotives sought

ADB financing for procurement of 300 locomotives sought

Pakistan Railways has sought Asian Development Bank (ADB) financing for procurement of 300 locomotives to meet its operational requirements, official sources revealed. Well-placed sources in the Railways Ministry told Business Recorder that Werner
Published 20 Feb, 2018 12:00am
Youth Programme reflective of priorities of government: PM

Youth Programme reflective of priorities of government: PM

Expressing satisfaction on overall progress of various components of Prime Minister's Youth Programme, Prime Minister Shahid Khaqan Abbasi has said that Youth Programme, initiated in 2013, was reflective of the priorities of PML-N government to help the y
Published 20 Feb, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
Parties urged to develop consensus on economic roadmap
Currency

Parties urged to develop consensus on economic roadmap

While acknowledging challenges on the external account due to widening current account deficit, Minister of State for Finance Rana Muhammad Afzal Khan called upon all the political parties to develop consensus on economic roadmap to put the country on pat
Published 20 Feb, 2018 12:00am
Rana Afzal receives Azerbaijani FM

Rana Afzal receives Azerbaijani FM

Minister of State for Finance, Rana Mohammad Afzal received his Azerbaijanese counterpart, Samir Sharifov for a meeting here on Monday. Samir was accompanied by the Azerbaijan Ambassador Ali Alizad on the occasion.
Published 20 Feb, 2018 12:00am
Asif to hold talks with his Russian counterpart
Exchange

Asif to hold talks with his Russian counterpart

Foreign Minister Khawaja Asif on Monday began a four-day official visit of Moscow to hold talks with his Russian counterpart Sergey Lavrov on issues of mutual interests, trade, investment, defense and regional situation. According to Foreign Office spokes
Published 20 Feb, 2018 12:00am
Australian High Commissioner meets KP Governor

Australian High Commissioner meets KP Governor

Australian High Commissioner to Pakistan Margaret Adamson called on the Governor Khyber Pakhtunkhwa Engr Iqbal Zafar Jhagra here at Governor's House, Peshawar on Monday. He remained with the Governor for some time and discussed matters of mutual interest.
Published 20 Feb, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (February 19, 2018)

Published 20 Feb, 2018 12:00am
Punjab government allocates Rs 5 billion for eradication of child labour

Punjab government allocates Rs 5 billion for eradication of child labour

Government of the Punjab has launched a comprehensive programme by allocating more than Rs 5 billion which is aimed to eradicate the curse of child labour. Under this program non-formal and formal education & professional skills would be provided to the c
Published 20 Feb, 2018 12:00am
KP CM orders completion of BRT project

KP CM orders completion of BRT project

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has directed for the accelerated work on the main corridor and feeding routes of the Rapid Bus Transit project and early completion of drain system on the BRT corridor and early supply of buses for the BRT.
Published 20 Feb, 2018 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
PCJCCI arranges Chinese New Year ceremony

PCJCCI arranges Chinese New Year ceremony

The Pak-China Joint Chamber of Commerce and Industry (PCJCCI) Monday arranged an exclusive New Year celebration ceremony for felicitating Chinese businessmen, entrepreneurs, and investors associated with the PCJCCI. PCJCCI President SM Naveed presided ove
Published 20 Feb, 2018 12:00am
Iranian plane crash

Iranian plane crash

The tragedy of Iranian passenger plane crash into the country's Zagros mountains however throws up a lesson for the West in particular. Although decades of unjust and unwarranted sanctions on Iran have failed to destroy the resilience and steadfastness of
Published 20 Feb, 2018 12:00am
'Painful': Citizens count Brexit's personal cost

'Painful': Citizens count Brexit's personal cost

Frustrated by Brexit negotiations, angry at Brussels or simply afraid of the future, ordinary Britons and other Europeans are already taking life-changing decisions a year before Britain leaves the EU. Office workers, farmers and radio hosts are taking on
Published 20 Feb, 2018 12:00am
Pakistan's increasing isolation
Exchange

Pakistan's increasing isolation

Chief of Army Staff (CoAS) General Qamar Javed Bajwa is bending his back these days to convince a sceptical world that Pakistan does not harbour the Afghan Taliban or Haqqani Network in safe havens on Pakistani soil. That was again the gist of his message
Published 20 Feb, 2018 12:00am
The urban-rural divide

The urban-rural divide

The estimates of the extent of the urban-rural divide in Pakistan presented in this article are from my recently published book titled 'Growth and Inequality in Pakistan'. The urban-rural divide in terms of per capita value added or income is an important
Published 20 Feb, 2018 12:00am
Rise in external borrowing
Exchange

Rise in external borrowing

According to the data released by the Economic Affairs Division (EAD), the Abbasi-led administration procured 3.8 billion dollars in loans between September and December 2017. This raised the country's reliance on total loans and liabilities from 83 billi
Published 20 Feb, 2018 12:00am
A lack of transparency

A lack of transparency

Both the Senate and National Assembly have raised pertinent questions over the decision to send almost a division of Pakistan army troops to Saudi Arabia without taking parliament into confidence. Senate Chairman Raza Rabbani summoned Defence Minister Khu
Published 20 Feb, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

Private Power and Infrastructure Board (PPIB) has sought the Board''s approval to issue notice of proceed and Letter of Intent (LoI) to Thar Electricity (Private) Limited (TEPL) for establishment of 700MW (2x350) MW plant at Thar Block-VI, official source
Published 20 Feb, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 19, 2018).

Published 20 Feb, 2018 12:00am
700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

Private Power and Infrastructure Board (PPIB) has sought the Board's approval to issue notice of proceed and Letter of Intent (LoI) to Thar Electricity (Private) Limited (TEPL) for establishment of 700MW (2x350) MW plant at Thar Block-VI, official sources
Published 20 Feb, 2018 12:00am
700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

700MW plant at Thar: PPIB to issue notice of proceed, LoI to TEPL

Private Power and Infrastructure Board (PPIB) has sought the Board's approval to issue notice of proceed and Letter of Intent (LoI) to Thar Electricity (Private) Limited (TEPL) for establishment of 700MW (2x350) MW plant at Thar Block-VI, official sources
Published 20 Feb, 2018 12:00am
Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

The Supreme Court on Monday directed Cane Commissioner Punjab and five sugar mills representative to submit a comprehensive plan for purchase of sugarcane crop from South Punjab growers by February 21. A three-member bench led by Chief Justice Mian Saqib
Published 20 Feb, 2018 12:00am
THE RUPEE: easier trend
Currency

THE RUPEE: easier trend

All-round slides were seen on the money market on Monday as the rupee failed to show any improvement versus the dollar in the process of trading, currency experts said. The rupee moved slightly in relation to the dollar for buying and selling at Rs 110.57
Published 20 Feb, 2018 12:00am
Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

The Supreme Court on Monday directed Cane Commissioner Punjab and five sugar mills representative to submit a comprehensive plan for purchase of sugarcane crop from South Punjab growers by February 21. A three-member bench led by Chief Justice Mian Saqib
Published 20 Feb, 2018 12:00am
THE RUPEE: easier trend
Currency

THE RUPEE: easier trend

All-round slides were seen on the money market on Monday as the rupee failed to show any improvement versus the dollar in the process of trading, currency experts said. The rupee moved slightly in relation to the dollar for buying and selling at Rs 110.57
Published 20 Feb, 2018 12:00am
Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

Purchase of sugarcane crop: SC seeks comprehensive plan by February 21

The Supreme Court on Monday directed Cane Commissioner Punjab and five sugar mills representative to submit a comprehensive plan for purchase of sugarcane crop from South Punjab growers by February 21. A three-member bench led by Chief Justice Mian Saqib
Published 20 Feb, 2018 12:00am
Senate passes bill to decriminalise attempted suicide

Senate passes bill to decriminalise attempted suicide

Senate on Monday passed a bill seeking treatment of those who attempt suicide and survive rather than punishment under Section 325 of the Pakistan Penal Code (PPC). The bill urges to decriminalise attempted suicide, and instead offers medical treatment an
Published 20 Feb, 2018 12:00am
Senate passes bill to decriminalise attempted suicide

Senate passes bill to decriminalise attempted suicide

Senate on Monday passed a bill seeking treatment of those who attempt suicide and survive rather than punishment under Section 325 of the Pakistan Penal Code (PPC). The bill urges to decriminalise attempted suicide, and instead offers medical treatment an
Published 20 Feb, 2018 12:00am
Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Sirajuddin Aziz has been elevated as the CEO Group Financial Institutions, along with being entrusted with other responsibilities in Habib Bank AG Zurich Group. Aziz has served as president and CEO of HabibMetro Bank since 2012. In his tenure at the helm
Published 20 Feb, 2018 12:00am
Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Sirajuddin Aziz has been elevated as the CEO Group Financial Institutions, along with being entrusted with other responsibilities in Habib Bank AG Zurich Group. Aziz has served as president and CEO of HabibMetro Bank since 2012. In his tenure at the helm
Published 20 Feb, 2018 12:00am
Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Aziz elevated to CEO Group Financial Institutions, Habib Bank AG Zurich

Sirajuddin Aziz has been elevated as the CEO Group Financial Institutions, along with being entrusted with other responsibilities in Habib Bank AG Zurich Group. Aziz has served as president and CEO of HabibMetro Bank since 2012. In his tenure at the helm
Published 20 Feb, 2018 12:00am
Tessori out as nine MQM-P candidates withdraw from Senate elections

Tessori out as nine MQM-P candidates withdraw from Senate elections

Nine of the fifteen candidates of the two separate factions of the Muttahida Quami Movement - Pakistan (MQM-P), including Karman Tessori, have withdrawn their nomination papers and dropped out of the upcoming Senate elections. The internal rift which emer
Published 20 Feb, 2018 12:00am
Clubbing of corruption cases: CJP to hear Nawaz's appeal on February 21

Clubbing of corruption cases: CJP to hear Nawaz's appeal on February 21

Chief Justice of Pakistan (CJP) Mian Saqib Nisar is set to hear disqualified premier Nawaz Sharif's chamber appeal on February 21 against Registrar Office's objections concerning his request to consolidate three corruption references against him. The peti
Published 20 Feb, 2018 12:00am
Avenfield case: NAB deputy prosecutor leaves for London

Avenfield case: NAB deputy prosecutor leaves for London

National Accountability Bureau's Deputy Prosecutor General Muzaffar Abbasi has left for London on an official visit, the anti-graft body's officials said on Monday. According to NAB officials, the prosecution team's head in the references against Nawaz Sh
Published 20 Feb, 2018 12:00am
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