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Mar 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-05-02
Power shortfall soars to 6,000MW as NTDC lines trip

Power shortfall soars to 6,000MW as NTDC lines trip

The country is facing shortfall of 6,000MW which implies generation was around 14MW against demand of 2,000MW due to which unscheduled load shedding was unleaded. Well-informed sources told Business Recorder that thousands of feeders across the cou
Published 02 May, 2018 12:00am
Power shortfall soars to 6,000MW as NTDC lines trip

Power shortfall soars to 6,000MW as NTDC lines trip

The country is facing shortfall of 6,000MW which implies generation was around 14MW against demand of 2,000MW due to which unscheduled load shedding was unleaded. Well-informed sources told Business Recorder that thousands of feeders across the cou
Published 02 May, 2018 12:00am
PSO asked to supply 15000MT of FO per day

PSO asked to supply 15000MT of FO per day

Pakistan State Oil (PSO) has reportedly been directed to make arrangements for supply of 15000 MT/ day for thermal power plants from May to September 2018, official sources told Business Recorder. Based on an analysis of demand and associated gener
Published 02 May, 2018 12:00am
PSO asked to supply 15000MT of FO per day

PSO asked to supply 15000MT of FO per day

Pakistan State Oil (PSO) has reportedly been directed to make arrangements for supply of 15000 MT/ day for thermal power plants from May to September 2018, official sources told Business Recorder. Based on an analysis of demand and associated gener
Published 02 May, 2018 12:00am
PSO asked to supply 15000MT of FO per day

PSO asked to supply 15000MT of FO per day

Pakistan State Oil (PSO) has reportedly been directed to make arrangements for supply of 15000 MT/ day for thermal power plants from May to September 2018, official sources told Business Recorder. Based on an analysis of demand and associated gener
Published 02 May, 2018 12:00am
Dominican Republic severs ties with Taiwan

Dominican Republic severs ties with Taiwan

China offered the Dominican Republic a $3.1 billion package of investments and loans to get them to sever ties with Taiwan, a Taiwan official said on Tuesday, after the Caribbean nation switched allegiance to China in a diplomatic blow to the self-ruled i
Published 02 May, 2018 12:00am
Dominican Republic severs ties with Taiwan

Dominican Republic severs ties with Taiwan

China offered the Dominican Republic a $3.1 billion package of investments and loans to get them to sever ties with Taiwan, a Taiwan official said on Tuesday, after the Caribbean nation switched allegiance to China in a diplomatic blow to the self-ruled i
Published 02 May, 2018 12:00am
Iconic American guitar maker Gibson files for bankruptcy

Iconic American guitar maker Gibson files for bankruptcy

Gibson, maker of iconic guitars for the likes of John Lennon, Elvis Presley and BB King, filed for bankruptcy protection on Tuesday after facing mounting debt and other financial challenges. The company, based in the American country music capital Nashvil
Published 02 May, 2018 12:00am
Sri Lanka cuts 2018 tourist arrivals target

Sri Lanka cuts 2018 tourist arrivals target

Anti-Muslim violence and an outbreak of dengue fever in Sri Lanka have led the government to slash its target for tourist arrivals this year after a record 2017. Tourism Promotion Minister John Amaratunga said on Tuesday that 2.5 million arrivals were exp
Published 02 May, 2018 12:00am
COAS meets notables: Hazara community agrees to end sit-in

COAS meets notables: Hazara community agrees to end sit-in

A four-day long hunger strike by Hazara community members came to an end after successful negotiations with Chief of Army Staff General Qamar Javed Bajwa by notables of Hazara community, according to Aaj News.
Published 02 May, 2018 12:00am
COAS meets notables: Hazara community agrees to end sit-in

COAS meets notables: Hazara community agrees to end sit-in

A four-day long hunger strike by Hazara community members came to an end after successful negotiations with Chief of Army Staff General Qamar Javed Bajwa by notables of Hazara community, according to Aaj News.
Published 02 May, 2018 12:00am
India's SC slams government over Taj Mahal decay

India's SC slams government over Taj Mahal decay

India's top court on Tuesday sharply criticised the government for failing to protect the Taj Mahal, the centuries-old monument to love which has been changing colour because of pollution. The brilliant marble of the Taj Mahal - a UNESCO world heritage si
Published 02 May, 2018 12:00am
India's SC slams government over Taj Mahal decay

India's SC slams government over Taj Mahal decay

India's top court on Tuesday sharply criticised the government for failing to protect the Taj Mahal, the centuries-old monument to love which has been changing colour because of pollution. The brilliant marble of the Taj Mahal - a UNESCO world heritage si
Published 02 May, 2018 12:00am
India to allow foreigners to invest in T-bills

India to allow foreigners to invest in T-bills

India's central bank said it will allow foreign portfolio investors (FPIs) to invest in treasury bills issued by the federal government, in its latest move to ease foreign investment rules. The Reserve Bank of India's (RBI) announcement on Tuesday comes d
Published 02 May, 2018 12:00am
Afghan security force shrinks sharply: US watchdog

Afghan security force shrinks sharply: US watchdog

The strength of local security forces has declined sharply in Afghanistan while the Taliban and other insurgent groups have gained increasing control over the Afghan population, a US government watchdog warned Tuesday. The latest report from the Special I
Published 02 May, 2018 12:00am
Afghan security force shrinks sharply: US watchdog

Afghan security force shrinks sharply: US watchdog

The strength of local security forces has declined sharply in Afghanistan while the Taliban and other insurgent groups have gained increasing control over the Afghan population, a US government watchdog warned Tuesday. The latest report from the Special I
Published 02 May, 2018 12:00am
More than 60 killed in NE Nigeria suicide blasts

More than 60 killed in NE Nigeria suicide blasts

Suicide bombers killed more than 60 people at a mosque and a market in northeast Nigeria on Tuesday, in a twin attack bearing the hallmarks of Boko Haram and a day after US President Donald Trump pledged greater support to fight the Islamist militants. Th
Published 02 May, 2018 12:00am
More than 60 killed in NE Nigeria suicide blasts

More than 60 killed in NE Nigeria suicide blasts

Suicide bombers killed more than 60 people at a mosque and a market in northeast Nigeria on Tuesday, in a twin attack bearing the hallmarks of Boko Haram and a day after US President Donald Trump pledged greater support to fight the Islamist militants. Th
Published 02 May, 2018 12:00am
Remuneration rate

Remuneration rate

The State Bank of Pakistan (SBP) has announced the rate of remuneration on Special Cash Reserve Account for this month. The SBP has notified that the rate of remuneration for May 2018 on Special Cash Reserve Account (US$), maintained with the State Bank,
Published 02 May, 2018 12:00am
Remuneration rate

Remuneration rate

The State Bank of Pakistan (SBP) has announced the rate of remuneration on Special Cash Reserve Account for this month. The SBP has notified that the rate of remuneration for May 2018 on Special Cash Reserve Account (US$), maintained with the State Bank,
Published 02 May, 2018 12:00am
Remuneration rate

Remuneration rate

The State Bank of Pakistan (SBP) has announced the rate of remuneration on Special Cash Reserve Account for this month. The SBP has notified that the rate of remuneration for May 2018 on Special Cash Reserve Account (US$), maintained with the State Bank,
Published 02 May, 2018 12:00am
Probe against tax evasion: Legal cover given to actions of DG I&IIR

Probe against tax evasion: Legal cover given to actions of DG I&IIR

The Finance Bill 2018 has provided legal cover to the actions of Directorate General (Intelligence and Investigation) Inland Revenue against the tax evaders and investigations in sales tax matters. A tax expert told Business Recorder that the judge
Published 02 May, 2018 12:00am
Probe against tax evasion: Legal cover given to actions of DG I&IIR

Probe against tax evasion: Legal cover given to actions of DG I&IIR

The Finance Bill 2018 has provided legal cover to the actions of Directorate General (Intelligence and Investigation) Inland Revenue against the tax evaders and investigations in sales tax matters. A tax expert told Business Recorder that the judge
Published 02 May, 2018 12:00am
Probe against tax evasion: Legal cover given to actions of DG I&IIR

Probe against tax evasion: Legal cover given to actions of DG I&IIR

The Finance Bill 2018 has provided legal cover to the actions of Directorate General (Intelligence and Investigation) Inland Revenue against the tax evaders and investigations in sales tax matters. A tax expert told Business Recorder that the judge
Published 02 May, 2018 12:00am
US having 'fruitful discussions' with EU on steel: Ross

US having 'fruitful discussions' with EU on steel: Ross

The United States is hopeful it will reach an agreement to reduce tensions with the European Union over tariffs imposed on steel and aluminum, Commerce Secretary Wilbur Ross said Tuesday. Speaking hours after President Donald Trump granted the EU a 30-day
Published 02 May, 2018 12:00am
US having 'fruitful discussions' with EU on steel: Ross

US having 'fruitful discussions' with EU on steel: Ross

The United States is hopeful it will reach an agreement to reduce tensions with the European Union over tariffs imposed on steel and aluminum, Commerce Secretary Wilbur Ross said Tuesday. Speaking hours after President Donald Trump granted the EU a 30-day
Published 02 May, 2018 12:00am
US having ''fruitful discussions'' with EU on steel: Ross

US having ''fruitful discussions'' with EU on steel: Ross

The United States is hopeful it will reach an agreement to reduce tensions with the European Union over tariffs imposed on steel and aluminum, Commerce Secretary Wilbur Ross said Tuesday. Speaking hours after President Donald Trump granted the EU a 30-day
Published 02 May, 2018 12:00am
Petrol price rise

Petrol price rise

Federal Finance Minister Miftah Ismail stated that the approved rise in the price of petrol and products is 50 percent of what was recommended by Oil and Gas Regulatory Authority (Ogra) and this decision was taken on the instructions of Prime Minister Sha
Published 02 May, 2018 12:00am
Bilawal's emotional pitch to garner votes

Bilawal's emotional pitch to garner votes

Pakistan People's Party (PPP) seems to have made a major move towards cashing in on the opportunity the unraveling of a beleaguered Muttahida Qaumi Movement (MQM), a party that had been dominating urban Sindh's political scene since mid 1980s until recent
Published 02 May, 2018 12:00am
New IMF anti-corruption framework

New IMF anti-corruption framework

The way the fiscal situation in the country is expected to shape up in view of the developments anticipated over the next few years on the economic front due to the extravagant budgetary proposals announced on Friday last, one cannot rule out the possibil
Published 02 May, 2018 12:00am
Marx at 200: Germany torn over revolutionary's legacy

Marx at 200: Germany torn over revolutionary's legacy

As Germany prepares to mark Karl Marx's 200th birth anniversary, the revolutionary philosopher's legacy remains divisive more than a quarter century after the fall of the Berlin Wall.
Published 02 May, 2018 12:00am
Dr Ayesha Ghaus Pasha

Dr Ayesha Ghaus Pasha

It is quite heartening to note that Dr Ayesha Ghaus Pasha, currently Punjab Minister for Finance, has emerged as a top contender for the slot of caretaker prime minister.
Published 02 May, 2018 12:00am
Passenger held with heroin

Passenger held with heroin

The Airport Security Force (ASF) authorities on Tuesday foiled a smuggling bid and seized four Kilogram heroin from a Jeddah bound passenger here at Bacha Khan International Airport (BKIA).
Published 02 May, 2018 12:00am
PTI asks Sanaullah to apologise for his misogynistic remarks

PTI asks Sanaullah to apologise for his misogynistic remarks

The Pakistan Tehreek-e-Insaf (PTI) has condemned Punjab Law Minister Rana Sanaullah's misogynistic statement regarding the PTI women and demanded an immediate apology. While addressing a press conference here on Tuesday, PTI Central Punjab Information Sec
Published 02 May, 2018 12:00am
Shah criticises hike in oil prices

Shah criticises hike in oil prices

Leader of the Opposition in National Assembly Syed Khurshid Ahmed said Tuesday the government has made a mockery of the labour class by increasing petrol, diesel and kerosene oil prices on 1st of May. He termed it a pre-budget of inflation in the country
Published 02 May, 2018 12:00am
Shah criticises hike in oil prices

Shah criticises hike in oil prices

Leader of the Opposition in National Assembly Syed Khurshid Ahmed said Tuesday the government has made a mockery of the labour class by increasing petrol, diesel and kerosene oil prices on 1st of May. He termed it a pre-budget of inflation in the country
Published 02 May, 2018 12:00am
MQM-P Bahadurabad accuses PPP of doing politics of hatred

MQM-P Bahadurabad accuses PPP of doing politics of hatred

Muttahida Qaumi Movement (MQM) Pakistan (Bahadurabad) on Tuesday accused Pakistan Peoples Party (PPP) of rubbing the slat in the wounds of Karachi-based Urdu-speaking community promoting hatred at its public meeting in Liaquatabad on Sunday. "PPP has a lo
Published 02 May, 2018 12:00am
Hot weather forecast

Hot weather forecast

Mercury is set to peak to a new high of 42 degrees Celsius of the season to simmer the city, as hot weather with heat waves will continue in the next two days, the Met Office said on Tuesday. Humidity is also expected to scale up to 80 percent on Wednesda
Published 02 May, 2018 12:00am
PTI Sindh leader slams government's 'inaction' about girl's murder

PTI Sindh leader slams government's 'inaction' about girl's murder

Pakistan Tehreek-e-Insaf (PTI) Sindh leader Haleem Adil Sheikh has said that the rulers of Sindh are insensitive to the pain and anguish of the parents of rape-murder victim Saima Jarwar of Larkana. According to details, PTI Chairman Imran Khan took a ser
Published 02 May, 2018 12:00am
All educational institutes to remain closed today

All educational institutes to remain closed today

All government and private schools and colleges will remain closed in the province on Wednesday (May 02) in connection with Shab-e-Barat. The decision to this effect was made at the steering committee of the provincial education department.
Published 02 May, 2018 12:00am
OSF urges government to set up 'thalassaemia registry'

OSF urges government to set up 'thalassaemia registry'

Omair Sana Foundation (OSF) has urged the government to establish a "Thalassaemia Registry" to collect the actual statistic of thalassaemia patients and accordingly arrangements of their treatment. Addressing a press conference at OSF head office Tuesday,
Published 02 May, 2018 12:00am
Civil society members join PML-Q

Civil society members join PML-Q

Led by Pakistan's first woman pilot Shehnaz Leghari, a delegation of civil society members called on the Pakistan Muslim League-Q (PML-Q) President Ch. Shujaat Hussain, here Tuesday and announced joining the PML-Q reposing full confidence in its leadershi
Published 02 May, 2018 12:00am
Bilawal asks MQM-P to apprise about its role in Baldia tragedy

Bilawal asks MQM-P to apprise about its role in Baldia tragedy

Pakistan Peoples Party (PPP) chairman Bilawal Bhutto-Zardari on Tuesday urged the Muttahida Qaumi Movement (MQM) to answer over the Baldia Town factory's fire incident that left over 260 workers dead instead of making statements. "MQM should answer over t
Published 02 May, 2018 12:00am
Protest against filthy condition of 'Nehr-e-Khayyam' held

Protest against filthy condition of 'Nehr-e-Khayyam' held

Members Of Civil society and business community (members of FPCCI) activists belonging to Clifton area held a demonstration to protest against the dirty smell from sewerage and filthy condition of "Nehr-e-Khayyam", now known as Ganda Nallah.
Published 02 May, 2018 12:00am
PRIF voices concern over changes proposed in federal budget

PRIF voices concern over changes proposed in federal budget

Pakistan Real Estate Investment Forum (PRIF) on Tuesday expressed concern over the radical changes proposed in the federal budget 2018-19. According to the statement issued here, the draft Finance Act 2018 proposed section 230F, empowering FBR to establis
Published 02 May, 2018 12:00am
Pervez Malik meets Sindh governor

Pervez Malik meets Sindh governor

Federal Minister for Commerce and Textile Pervez Malik met Sindh Governor Muhammad Zubair at the Governor House here. The two leaders discussed in detail economic development and promotion of the fields of textile and commerce as well as the steps taken f
Published 02 May, 2018 12:00am
Non-payment of taxes hampers basic facilities: Zubair

Non-payment of taxes hampers basic facilities: Zubair

Sindh Governor Muhammad Zubair has said that Pakistani nation is on the top of the list in giving charity for philanthropic works but does not believe in giving taxes, hampering state's efforts in educating its people and providing other basic facilities
Published 02 May, 2018 12:00am
Non-payment of taxes hampers basic facilities: Zubair

Non-payment of taxes hampers basic facilities: Zubair

Sindh Governor Muhammad Zubair has said that Pakistani nation is on the top of the list in giving charity for philanthropic works but does not believe in giving taxes, hampering state's efforts in educating its people and providing other basic facilities
Published 02 May, 2018 12:00am
Thousands of workers hold rallies to observe Labour Day

Thousands of workers hold rallies to observe Labour Day

Working class all over the city commemorated the International Labour Day on Tuesday (May 1) by holding meetings and rallies in order to pay tribute to martyrs of Chicago (USA) who sacrificed their lives in order to get accepted their just demands of dail
Published 02 May, 2018 12:00am
Punjab launches 'Agricultural Warehouse-Recovery Programme'

Punjab launches 'Agricultural Warehouse-Recovery Programme'

The Punjab Government has launched "Agricultural Warehouse-Recovery Programme" in Public Private Partnership to protect the agricultural commodities and ensure prosperity of the growers. Under this programme, farmers can store their agricultural commodity
Published 02 May, 2018 12:00am
Two suspected terrorists held from Sialkot

Two suspected terrorists held from Sialkot

Counter Terrorism Department (CTD) on Tuesday arrested two suspected terrorists hailing from the banned outfit from Sialkot hours before religiously important night is going to be observed.
Published 02 May, 2018 12:00am
PFA directs companies to stop using word 'energy' for drinks

PFA directs companies to stop using word 'energy' for drinks

After imposing a ban on the printing of word 'energy' on all energy drinks, the Punjab Food Authority (PFA) has issued strict guidelines to all the companies involved in this business with a clear direction to stop further production by using this name wi
Published 02 May, 2018 12:00am
CPNE delegation calls on Shahbaz

CPNE delegation calls on Shahbaz

A delegation of All Pakistan Newspaper Editors (CPNE) led by its President Zia Shahid called on Punjab Chief Minister Shahbaz Sharif here on Tuesday. The delegation appreciated the performance of Punjab Information Department over the release of governmen
Published 02 May, 2018 12:00am
Transporters announce strike on May 4

Transporters announce strike on May 4

The All Goods Transport Alliance has announced a strike for May 4 against setting up of a toll plaza at Band Road and extortion by traffic wardens in the city. The transporters would block entry and exit points of the city once the deadline is over and th
Published 02 May, 2018 12:00am
KBP slams increase in petrol prices

KBP slams increase in petrol prices

The Kisan Board Pakistan (KBP) strongly reacted to the increase in petrol products prices and termed it as bombing the already dying agricultural economy. KBP Central President Chaudhry Nisar Ahmad said that increasing the prices of diesel is like ruining
Published 02 May, 2018 12:00am
LUMUN joins hands with UN Pakistan

LUMUN joins hands with UN Pakistan

A Model UN Society in Pakistan has entered into an official partnership with United Nations. This is the first time that a MoU has been signed which signifies the joint aspirations of LUMUN and UN Pakistan. This will aim to develop a strategic partnership
Published 02 May, 2018 12:00am
Budget 2018-19: LCCI chief for abolition of WHT on bank transactions

Budget 2018-19: LCCI chief for abolition of WHT on bank transactions

President of Lahore Chamber of Commerce & Industry Malik Tahir Javaid has urged the members of National Assembly not to pass the Federal Budget 2018-19 until and unless necessary amendments and rectification are made. Major obstacles for business communit
Published 02 May, 2018 12:00am
Oil price hike: Zardari directs PPP MPs to protest in Parliament

Oil price hike: Zardari directs PPP MPs to protest in Parliament

Co-chairman Pakistan Peoples Party (PPP) Asif Zardari has directed PPP parliamentarians to lodge protest against increase in oil prices in the Parliament. He termed this increase as a cruel step and predicted that inflation would hit through the roof. Esp
Published 02 May, 2018 12:00am
PIAF rejects hike in oil prices

PIAF rejects hike in oil prices

Pakistan Industrial and Traders Associations Front (PIAF) has condemned the government for increasing prices of petroleum products up to Rs 4 per liter, terming it bad news for the country's economy, as this hike in fuel rates would lead to increasing cos
Published 02 May, 2018 12:00am
Socio-economic rights urged for workers

Socio-economic rights urged for workers

Office bearers of different labour organizations in district Mardan on Tuesday called upon the government to take steps for protecting the socio-economic rights of the workers.
Published 02 May, 2018 12:00am
KP first female taxi driver killed by husband

KP first female taxi driver killed by husband

The first female taxi driver of Khyber Pakhtunkhwa (KP) murdered last week in the city was in fact killed by her own husband According to a police report on Tuesday, the woman driver who used to provide transport to citizens through a private ride-hailing
Published 02 May, 2018 12:00am
SMEDA helps increase number of power looms

SMEDA helps increase number of power looms

The facilitation extended by Small and Medium Enterprises Development Authority (SMEDA) to the weaving cluster of Matta Mughal Khel, District Charsadda has helped increase the number of power-looms from 280 to 1380. According to the impact assessment stud
Published 02 May, 2018 12:00am
UAE keen to boost economic ties with Pakistan: envoy

UAE keen to boost economic ties with Pakistan: envoy

The UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi on Tuesday said his country values its relations with Pakistan and it wants to strengthen economic relations between the two brotherly countries. Ties between Pakistan and UAE were defined
Published 02 May, 2018 12:00am
Din Gardens Chiniot Inaugurated

Din Gardens Chiniot Inaugurated

"Modern residential projects should also be available in small cities of Pakistan and Din Group has started this work from Chiniot", this was said by renowned businessman and philanthropist S M Munir Chairman Din Group of Industries while addressing the i
Published 02 May, 2018 12:00am
Four-member inter-district dacoits' gang busted

Four-member inter-district dacoits' gang busted

Rawalpindi Police have busted a four-member inter-district dacoits' gang, recovering looted cash, gold ornaments and weapons from their possession. According to Senior Superintendent of Police (SSP) Operations Rawalpindi Muhammad Bin Ashraf, City Police O
Published 02 May, 2018 12:00am
Pak-Russia celebrate 70th anniversary of diplomatic relations

Pak-Russia celebrate 70th anniversary of diplomatic relations

May 01, 2018 marks the seventieth anniversary of establishment of diplomatic relations between Pakistan and the Russian Federation. In the backdrop of multiple recent developments that have seen Pakistan-Russia relations touch historic new heights, the ev
Published 02 May, 2018 12:00am
Inspection of private schools begins in KP

Inspection of private schools begins in KP

Khyber Pakhtunkhwa Private Schools Regulatory Authority (KP PSRA) has begun the inspection of the record of private schools of the provincial metropolis. Director Operations and Deputy Director (Registration & Fess Regulations) KP PSRA has initiated the i
Published 02 May, 2018 12:00am
KP NAB arrests alleged fraudster

KP NAB arrests alleged fraudster

National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Tuesday arrested accused Babar Zeb for alleged involvement in corruption and corrupt practices and cheating public at large.
Published 02 May, 2018 12:00am
Labourers have pivotal role in country's development: Marriyum

Labourers have pivotal role in country's development: Marriyum

The labourers have a pivotal role in the development of a country and the achievement of the development goals can be fast-tracked by empowering them. This has been said by the federal minister for Information, Broadcasting, National History and Literary
Published 02 May, 2018 12:00am
PWD's labour union holds May Day rally

PWD's labour union holds May Day rally

Pakistan Works Department (PWD) Labour Union Khyber Pakhtunkhwa staged a demo in connections with World Labourers' Day here on Tuesday. Led by the provincial president, Pakistan Worker Federation, Gul Zamin and Senior Vice President Haji Syed Ghafar Shah,
Published 02 May, 2018 12:00am
International Labour Day observed in KP, Fata

International Labour Day observed in KP, Fata

Various trade and labour unions along with members of civil society organised functions and take out rallies to mark the International Labour Day in Khyber Pakhtunkhwa and Federally Administered Tribal Areas on Tuesday.
Published 02 May, 2018 12:00am
Abbott Laboratories Pakistan
Mutual Funds

Abbott Laboratories Pakistan

The second-largest pharmaceutical company in Pakistan, Abbott Laboratories (Pakistan) Limited (PSX: ABOT) was incorporated in 1948 as a private marketing company, with its first manufacturing facility commissioned in 1962 in Karachi. Over the years, the h
Published 02 May, 2018 12:00am
Abbott Laboratories Pakistan
Mutual Funds

Abbott Laboratories Pakistan

The second-largest pharmaceutical company in Pakistan, Abbott Laboratories (Pakistan) Limited (PSX: ABOT) was incorporated in 1948 as a private marketing company, with its first manufacturing facility commissioned in 1962 in Karachi. Over the years, the h
Published 02 May, 2018 12:00am
Sindh to impose lifetime tax on cars, increases transfer fee

Sindh to impose lifetime tax on cars, increases transfer fee

Sindh government has proposed imposition of lifetime tax on cars/jeeps having the engine capacity up to 1000cc and also proposed increase in the rate of life-time tax on motorcycles and scooters with engine capacity up to 150cc and above.
Published 02 May, 2018 12:00am
Capital witnesses significant growth of Chinese restaurants

Capital witnesses significant growth of Chinese restaurants

The number of Chinese restaurants is growing significantly in federal Capital and post CPEC scenario has also forced local eateries to offer Chinese dishes after an influx of Chinese nationals here. The Capital Development Authority's data revealed that t
Published 02 May, 2018 12:00am
KCCI asks government to rid Karachi of all 'mafias' for economic revival

KCCI asks government to rid Karachi of all 'mafias' for economic revival

Karachi Chamber of Commerce and Industry (KCCI), has urged that Karachi should be freed from all mafias through effective utilization of law enforcement agencies because several segments including beggars and water tankers have turned into mafias due to l
Published 02 May, 2018 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

Gold slid to a four-month low on Tuesday as the dollar strengthened ahead of a US Federal Reserve policy meeting that is being watched for clues on the future pace of interest rate hikes. Bullion also looks vulnerable after breaking through chart support
Published 02 May, 2018 12:00am
Brazil's center-south speeds up cane crush

Brazil's center-south speeds up cane crush

Brazil's center-south, the world's largest sugar producing region, sped up harvesting in the first half of April, crushing a quarter more cane than in the same period a year earlier, industry group Unica said on Wednesday. Mills crushed 22.21 million tonn
Published 02 May, 2018 12:00am
Gold hits two-month low in European trade

Gold hits two-month low in European trade

Gold slid to a two-month low on Tuesday as the dollar strengthened ahead of a US Federal Reserve policy meeting that is being watched for clues on the future pace of interest rate hikes. The metal also looks vulnerable after breaking through chart support
Published 02 May, 2018 12:00am
Gold dips in Asia

Gold dips in Asia

Gold prices fell to a six-week low on Tuesday as the dollar firmed near 3-1/2-month highs, with investors awaiting direction on US monetary policy from the US Federal Reserve. Spot gold was down 0.3 percent at $1,310.77 per ounce at 0716 GMT. Prices hit $
Published 02 May, 2018 12:00am
Gold near six-week low in NY

Gold near six-week low in NY

Gold prices fell to the lowest in nearly six weeks on Monday as the dollar strengthened and easing tensions on the Korean peninsula helped boost appetite for higher risk assets such as stocks. Spot gold lost 0.3 percent at $1,318.14 per ounce by 1:34 pm E
Published 02 May, 2018 12:00am
London cocoa at 2016 peak, robusta coffee vaults
Exchange

London cocoa at 2016 peak, robusta coffee vaults

London cocoa futures on ICE rose to the highest since 2016 on Tuesday, buoyed by the weak British pound, while robusta coffee surged more than 3 percent within one minute to a 5-1/2-month high after a flurry of automatic buy orders were triggered. July Lo
Published 02 May, 2018 12:00am
US ethanol makers snap up cheap sorghum after China tariffs

US ethanol makers snap up cheap sorghum after China tariffs

US ethanol makers have joined global livestock producers to snap up discounted American sorghum supplies after buyers in China backed out of deals due to stiff anti-dumping tariffs on the grain imposed by Beijing in a mounting trade dispute. Sorghum is us
Published 02 May, 2018 12:00am
Tokyo rubber rises
Exchange

Tokyo rubber rises

Prices of benchmark Tokyo rubber futures closed nearly 4 percent higher on Tuesday, marking a one-and-a-half month top earlier in the session helped by firmer global oil prices. Oil prices held steady on Tuesday as the dollar remained near a four-month hi
Published 02 May, 2018 12:00am
KPMG urges spot sale system to address I Coast cocoa defaults

KPMG urges spot sale system to address I Coast cocoa defaults

  • Global audit firm KPMG has urged Ivory Coast to introduce a spot sales system for local cocoa exporters who were responsible for defaults on 148,000 tonnes of contracts in the last growing season. The world's top producer sells forward the bulk of its a
Published 02 May, 2018 12:00am
Oil falls on firmer dollar but Iran sanction fears limit losses
Currency

Oil falls on firmer dollar but Iran sanction fears limit losses

Oil prices slid more than 1 percent on Tuesday as the dollar remained near a four-month high, but worries that US President Donald Trump will pull out of the Iran nuclear deal underpinned the market. The US dollar surged into positive territory for 2018 a
Published 02 May, 2018 12:00am
Boom in West Texas oil patch lifts wages, prices

Boom in West Texas oil patch lifts wages, prices

In West Texas, rising oil prices are fuelling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials.
Published 02 May, 2018 12:00am
Mueller questions for Trump probe possible obstruction

Mueller questions for Trump probe possible obstruction

Donald Trump lashed out Tuesday at the "disgraceful" disclosure of questions Special Counsel Robert Mueller has sought to ask the US president about potential obstruction and other matters as part of his probe into Russian election interference. Compiled
Published 02 May, 2018 12:00am
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