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Print - 2018-04-13
China's growing profile

China's growing profile

Business Recorder op-ed writer M. Ziauddin in his article "China - the leading global developer" carried by the newspaper on April 4 had argued, among other things, that "Over the next ten years Pakistan is estimated to displace Russia from its top
Published 13 Apr, 2018 12:00am
The world's billionaires
Exchange

The world's billionaires

Recently one afternoon I was working out in the club gym - fighting a losing battle against ageing. A young lady walked in. I know her family well. They are mega rich. We exchanged greetings. I asked her how she was. "OK", she replied. In return she asked
Published 13 Apr, 2018 12:00am
The ugly SSGC-KE row

The ugly SSGC-KE row

With supply of gas from Sui Southern Gas Company Limited (SSGC) to the metropolis' power utility, K-Electric (KE) far below that is required to run the KE's gas-fired power plants, consumers across Karachi are suffering from additional load-shedding. The
Published 13 Apr, 2018 12:00am
Budget and corporate sector
Exchange

Budget and corporate sector

On the one hand, our governments keep on emphasising the need for corporatization of business to attract foreign direct investment (FDI) and documentation of economy for rapid growth and on the other, their actions reflect the diametrically opposite. Sinc
Published 13 Apr, 2018 12:00am
PM at Boao economic forum

PM at Boao economic forum

Addressing the Boao Forum in China's Hainan province, Prime Minister Shahid Khaqan Abbasi has pointed out that regional connectivity, open trade and increased economic growth are the key to promoting tolerance and deny space to extremism and that Pakistan
Published 13 Apr, 2018 12:00am
Circular debt

Circular debt

According to a Business Recorder exclusive, receivables of Pakistan State Oil (PSO), already high due to overdue payments from the power sector have risen by 23 billion rupees - an amount payable by Sui Northern Gas Pipelines Ltd (SNGPL). The reaso
Published 13 Apr, 2018 12:00am
The Weather

The Weather

The weather report on Thursday (April 12, 2018) and the forecast for Friday (April 13, 2018).

Published 13 Apr, 2018 12:00am
Volkswagen names Diess new CEO

Volkswagen names Diess new CEO

German auto giant Volkswagen, still battling to move past a long-running scandal over diesel emissions, on Thursday named the head of the VW brand, Herbert Diess, as its new chief executive as part of a major management shake-up. He will replace outgoing
Published 13 Apr, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (April 12, 2018).

Published 13 Apr, 2018 12:00am
Volkswagen names Diess new CEO

Volkswagen names Diess new CEO

German auto giant Volkswagen, still battling to move past a long-running scandal over diesel emissions, on Thursday named the head of the VW brand, Herbert Diess, as its new chief executive as part of a major management shake-up. He will replace outgoing
Published 13 Apr, 2018 12:00am
Volkswagen names Diess new CEO

Volkswagen names Diess new CEO

German auto giant Volkswagen, still battling to move past a long-running scandal over diesel emissions, on Thursday named the head of the VW brand, Herbert Diess, as its new chief executive as part of a major management shake-up. He will replace outgoing
Published 13 Apr, 2018 12:00am
Bill seeks to 'reduce burden of CJP'

Bill seeks to 'reduce burden of CJP'

The government on Thursday moved a bill further to amend the Federal Judicial Academy Act, 1997, reducing the burden of the chairman (chief justice of Pakistan) by transferring his authority to take action under the Efficiency and Discipline Rules, 1973.
Published 13 Apr, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (April 12, 2018).

Published 13 Apr, 2018 12:00am
Bill seeks to 'reduce burden of CJP'

Bill seeks to 'reduce burden of CJP'

The government on Thursday moved a bill further to amend the Federal Judicial Academy Act, 1997, reducing the burden of the chairman (chief justice of Pakistan) by transferring his authority to take action under the Efficiency and Discipline Rules, 1973.
Published 13 Apr, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (April 12, 2018)

Published 13 Apr, 2018 12:00am
Xi makes surprise visit to fleet in South China Sea drill

Xi makes surprise visit to fleet in South China Sea drill

Chinese President Xi Jinping Thursday stressed the "urgent" need to build a powerful navy during a surprise visit to observe naval exercises in the disputed South China Sea, state media reported as the country prepares for live-fire drills in the Taiwan S
Published 13 Apr, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 12, 2018).

Published 13 Apr, 2018 12:00am
Xi makes surprise visit to fleet in South China Sea drill

Xi makes surprise visit to fleet in South China Sea drill

Chinese President Xi Jinping Thursday stressed the "urgent" need to build a powerful navy during a surprise visit to observe naval exercises in the disputed South China Sea, state media reported as the country prepares for live-fire drills in the Taiwan S
Published 13 Apr, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 12, 2018).

Published 13 Apr, 2018 12:00am
SC verdict on Article 62(1)(f) today

SC verdict on Article 62(1)(f) today

The Supreme Court will announce today (Friday) verdict pertaining to the duration of disqualification of legislators under Article 62(1) (f) of the Constitution. A five-member larger bench of the apex court headed by Chief Justice Mian Saqib Nisar will an
Published 13 Apr, 2018 12:00am
SC verdict on Article 62(1)(f) today

SC verdict on Article 62(1)(f) today

The Supreme Court will announce today (Friday) verdict pertaining to the duration of disqualification of legislators under Article 62(1) (f) of the Constitution. A five-member larger bench of the apex court headed by Chief Justice Mian Saqib Nisar will an
Published 13 Apr, 2018 12:00am
Zia will have to reveal names, identities: Nawaz

Zia will have to reveal names, identities: Nawaz

Former Prime Minister Nawaz Sharif on Thursday said that the head of Joint Investigation Team (JIT) Wajid Zia will have to reveal the names and identities of 30 to 40 persons, including experts and supporting staff, who assisted the JIT in probing the Pan
Published 13 Apr, 2018 12:00am
THE RUPEE: sliding trend
Currency

THE RUPEE: sliding trend

The rupee slid against the dollar on the money market on Thursday in the process of trading activity, dealers said. The rupee moved within the band of Rs 115.60 and Rs 115.62 respectively, the said. In the fourth Asian trade, the dollar edged up against t
Published 13 Apr, 2018 12:00am
Zia will have to reveal names, identities: Nawaz

Zia will have to reveal names, identities: Nawaz

Former Prime Minister Nawaz Sharif on Thursday said that the head of Joint Investigation Team (JIT) Wajid Zia will have to reveal the names and identities of 30 to 40 persons, including experts and supporting staff, who assisted the JIT in probing the Pan
Published 13 Apr, 2018 12:00am
THE RUPEE: sliding trend
Currency

THE RUPEE: sliding trend

The rupee slid against the dollar on the money market on Thursday in the process of trading activity, dealers said. The rupee moved within the band of Rs 115.60 and Rs 115.62 respectively, the said. In the fourth Asian trade, the dollar edged up against t
Published 13 Apr, 2018 12:00am
Trump says decisions 'fairly soon' on Syria

Trump says decisions 'fairly soon' on Syria

US President Donald Trump said he was holding meetings on Thursday on Syria where he has threatened missile strikes in response to a suspected poison gas attack and he expected decisions to be taken "fairly soon."
Published 13 Apr, 2018 12:00am
Trump says decisions 'fairly soon' on Syria

Trump says decisions 'fairly soon' on Syria

US President Donald Trump said he was holding meetings on Thursday on Syria where he has threatened missile strikes in response to a suspected poison gas attack and he expected decisions to be taken "fairly soon."
Published 13 Apr, 2018 12:00am
CJP hints at reviewing new amnesty scheme

CJP hints at reviewing new amnesty scheme

The Supreme Court on Thursday hinted at reviewing the tax amnesty scheme and Pakistanis' properties and money stashed abroad. Chief Justice Mian Saqib Nisar, heading a three-judge bench which heard a case of property dispute said, "We are seriously consid
Published 13 Apr, 2018 12:00am
CJP hints at reviewing new amnesty scheme

CJP hints at reviewing new amnesty scheme

The Supreme Court on Thursday hinted at reviewing the tax amnesty scheme and Pakistanis' properties and money stashed abroad. Chief Justice Mian Saqib Nisar, heading a three-judge bench which heard a case of property dispute said, "We are seriously consid
Published 13 Apr, 2018 12:00am
Power sector receivables cross Rs 805 billion mark

Power sector receivables cross Rs 805 billion mark

The country''s power sector receivables crossed Rs805 billion as of January 31, 2018 compared to Rs730 billion on June 30, 2017, showing an increase of over 10 per cent in seven months of the current fiscal year. According to official documents, Discos''
Published 13 Apr, 2018 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (April 12, 2018).

Published 13 Apr, 2018 12:00am
Power sector receivables cross Rs 805 billion mark

Power sector receivables cross Rs 805 billion mark

The country's power sector receivables crossed Rs805 billion as of January 31, 2018 compared to Rs730 billion on June 30, 2017, showing an increase of over 10 per cent in seven months of the current fiscal year. According to official documents, Discos' co
Published 13 Apr, 2018 12:00am
Power sector receivables cross Rs 805 billion mark

Power sector receivables cross Rs 805 billion mark

The country's power sector receivables crossed Rs805 billion as of January 31, 2018 compared to Rs730 billion on June 30, 2017, showing an increase of over 10 per cent in seven months of the current fiscal year. According to official documents, Discos' co
Published 13 Apr, 2018 12:00am
IMF head warns China on exporting debt through ''Silk Road''

IMF head warns China on exporting debt through ''Silk Road''

IMF chief Christine Lagarde warned China on Thursday about saddling other countries with a "problematic increase in debt" through its ambitious global trade infrastructure project. Lagarde made the comments at a Beijing forum on Chinese President Xi Jinpi
Published 13 Apr, 2018 12:00am
IMF head warns China on exporting debt through 'Silk Road'

IMF head warns China on exporting debt through 'Silk Road'

IMF chief Christine Lagarde warned China on Thursday about saddling other countries with a "problematic increase in debt" through its ambitious global trade infrastructure project. Lagarde made the comments at a Beijing forum on Chinese President Xi Jinpi
Published 13 Apr, 2018 12:00am
IMF head warns China on exporting debt through 'Silk Road'

IMF head warns China on exporting debt through 'Silk Road'

IMF chief Christine Lagarde warned China on Thursday about saddling other countries with a "problematic increase in debt" through its ambitious global trade infrastructure project. Lagarde made the comments at a Beijing forum on Chinese President Xi Jinpi
Published 13 Apr, 2018 12:00am
Chinese company to set up oil refinery

Chinese company to set up oil refinery

Power China International Group Limited (PCGIL), a Chinese state owned company, is to set up upcountry deep conversion oil refinery with an investment of $7-8 billion, official sources told Business Recorder. The Chinese group, sources said, had ev
Published 13 Apr, 2018 12:00am
Chinese company to set up oil refinery

Chinese company to set up oil refinery

Power China International Group Limited (PCGIL), a Chinese state owned company, is to set up upcountry deep conversion oil refinery with an investment of $7-8 billion, official sources told Business Recorder. The Chinese group, sources said, had ev
Published 13 Apr, 2018 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 13 Apr, 2018 12:00am
Chinese company to set up oil refinery

Chinese company to set up oil refinery

Power China International Group Limited (PCGIL), a Chinese state owned company, is to set up upcountry deep conversion oil refinery with an investment of $7-8 billion, official sources told Business Recorder. The Chinese group, sources said, had ev
Published 13 Apr, 2018 12:00am
Board Meetings
Exchange

Board Meetings

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 13 Apr, 2018 12:00am
Talks with TLYRA successful, claims Punjab government

Talks with TLYRA successful, claims Punjab government

Punjab government has claimed late Thursday night that talks with Tehreek-e-Labbaik Ya Rasoolullah (TLYRA) succeeded after the former assured registration of FIR of the killing of TLYRA protesters at Islamabad sit-in and making Raja Zafarul Haq's report p
Published 13 Apr, 2018 12:00am
WTO warns protectionism threatens strong trade growth forecast

WTO warns protectionism threatens strong trade growth forecast

World Trade Organization said Thursday that it expects strong trade growth through this year and next but warned progress would be "undermined" if governments implement threatened protectionist measures. The WTO forecast 4.4 percent growth in trade volume
Published 13 Apr, 2018 12:00am
WTO warns protectionism threatens strong trade growth forecast

WTO warns protectionism threatens strong trade growth forecast

World Trade Organization said Thursday that it expects strong trade growth through this year and next but warned progress would be "undermined" if governments implement threatened protectionist measures. The WTO forecast 4.4 percent growth in trade volume
Published 13 Apr, 2018 12:00am
WTO warns protectionism threatens strong trade growth forecast

WTO warns protectionism threatens strong trade growth forecast

World Trade Organization said Thursday that it expects strong trade growth through this year and next but warned progress would be "undermined" if governments implement threatened protectionist measures. The WTO forecast 4.4 percent growth in trade volume
Published 13 Apr, 2018 12:00am
Sale of KES stake in KE: Cabinet ratifies CCoP decision

Sale of KES stake in KE: Cabinet ratifies CCoP decision

The federal cabinet has ratified the decision of Cabinet Committee on Privatization (CCoP) for issuance of National Security Certificate (NSC) for sale of KES 66.40 percent shares in K-Electric Limited to Shanghai Electric Power. A meeting of the cabinet
Published 13 Apr, 2018 12:00am
Sale of KES stake in KE: Cabinet ratifies CCoP decision

Sale of KES stake in KE: Cabinet ratifies CCoP decision

The federal cabinet has ratified the decision of Cabinet Committee on Privatization (CCoP) for issuance of National Security Certificate (NSC) for sale of KES 66.40 percent shares in K-Electric Limited to Shanghai Electric Power. A meeting of the cabinet
Published 13 Apr, 2018 12:00am
Sale of KES stake in KE: Cabinet ratifies CCoP decision

Sale of KES stake in KE: Cabinet ratifies CCoP decision

The federal cabinet has ratified the decision of Cabinet Committee on Privatization (CCoP) for issuance of National Security Certificate (NSC) for sale of KES 66.40 percent shares in K-Electric Limited to Shanghai Electric Power. A meeting of the cabinet
Published 13 Apr, 2018 12:00am
Privatization of PIA: Don't do it without SC permission, government told

Privatization of PIA: Don't do it without SC permission, government told

The Supreme Court on Thursday directed the federal government not to privatize Pakistan International Airlines (PIA) without its prior permission. The court also ordered the former managing directors (MDs) of national flag carrier not to leave the country
Published 13 Apr, 2018 12:00am
Privatization of PIA: Don't do it without SC permission, government told

Privatization of PIA: Don't do it without SC permission, government told

The Supreme Court on Thursday directed the federal government not to privatize Pakistan International Airlines (PIA) without its prior permission. The court also ordered the former managing directors (MDs) of national flag carrier not to leave the country
Published 13 Apr, 2018 12:00am
Presentation of budget hangs in the balance

Presentation of budget hangs in the balance

Presentation of the federal budget for fiscal year 2018-19 hangs in balance after the opposition parties conveyed to the government that either it should not present the budget or get authorization of the only four-month budget from the Parliament. This i
Published 13 Apr, 2018 12:00am
Presentation of budget hangs in the balance

Presentation of budget hangs in the balance

Presentation of the federal budget for fiscal year 2018-19 hangs in balance after the opposition parties conveyed to the government that either it should not present the budget or get authorization of the only four-month budget from the Parliament. This i
Published 13 Apr, 2018 12:00am
Presentation of budget hangs in the balance

Presentation of budget hangs in the balance

Presentation of the federal budget for fiscal year 2018-19 hangs in balance after the opposition parties conveyed to the government that either it should not present the budget or get authorization of the only four-month budget from the Parliament. This i
Published 13 Apr, 2018 12:00am
Moody''''''''s optimistic about Amnesty''''''''s prospects
Currency

Moody''''''''s optimistic about Amnesty''''''''s prospects

Moody''''''''s Investors Service said if Pakistan''''''''s tax-amnesty scheme remains successful, it would increase the government''''''''s revenue base and alleviate fiscal pressure from its low revenue generation capacity and increasing capital expendit
Published 13 Apr, 2018 12:00am
Moody''''s optimistic about Amnesty''''s prospects
Currency

Moody''''s optimistic about Amnesty''''s prospects

Moody''''s Investors Service said if Pakistan''''s tax-amnesty scheme remains successful, it would increase the government''''s revenue base and alleviate fiscal pressure from its low revenue generation capacity and increasing capital expenditures for the
Published 13 Apr, 2018 12:00am
Moody''s optimistic about Amnesty''s prospects
Currency

Moody''s optimistic about Amnesty''s prospects

Moody''s Investors Service said if Pakistan''s tax-amnesty scheme remains successful, it would increase the government''s revenue base and alleviate fiscal pressure from its low revenue generation capacity and increasing capital expenditures for the China
Published 13 Apr, 2018 12:00am
Moody's optimistic about Amnesty's prospects
Currency

Moody's optimistic about Amnesty's prospects

Moody's Investors Service said if Pakistan's tax-amnesty scheme remains successful, it would increase the government's revenue base and alleviate fiscal pressure from its low revenue generation capacity and increasing capital expenditures for the China-Pa
Published 13 Apr, 2018 12:00am
Moody's optimistic about Amnesty's prospects
Currency

Moody's optimistic about Amnesty's prospects

Moody's Investors Service said if Pakistan's tax-amnesty scheme remains successful, it would increase the government's revenue base and alleviate fiscal pressure from its low revenue generation capacity and increasing capital expenditures for the China-Pa
Published 13 Apr, 2018 12:00am
Budget 2018-19: Rs 219 billion subsidy on the cards

Budget 2018-19: Rs 219 billion subsidy on the cards

The government is likely to allocate Rs 219 billion subsidy for next fiscal year with Rs 119.400 billion earmarked for power sector, reliable sources in the Finance Ministry told Business Recorder. Finance Ministry has reportedly proposed a ceiling
Published 13 Apr, 2018 12:00am
Budget 2018-19: Rs 219 billion subsidy on the cards

Budget 2018-19: Rs 219 billion subsidy on the cards

The government is likely to allocate Rs 219 billion subsidy for next fiscal year with Rs 119.400 billion earmarked for power sector, reliable sources in the Finance Ministry told Business Recorder. Finance Ministry has reportedly proposed a ceiling
Published 13 Apr, 2018 12:00am
Budget 2018-19: Rs 219 billion subsidy on the cards

Budget 2018-19: Rs 219 billion subsidy on the cards

The government is likely to allocate Rs 219 billion subsidy for next fiscal year with Rs 119.400 billion earmarked for power sector, reliable sources in the Finance Ministry told Business Recorder. Finance Ministry has reportedly proposed a ceiling
Published 13 Apr, 2018 12:00am
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