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Print - 2018-05-05
Illegal plots' sale: accused remanded in NAB's custody

Illegal plots' sale: accused remanded in NAB's custody

National Accountable Bureau (NAB), Karachi produced an accused on Friday before Accountability Court Karachi for physical remand. Accused named Shoaib Memon was remanded in NAB custody was given till May 13. The arrested accused is a private person who in
Published 05 May, 2018 12:00am
Meezan Bank signs MoU with IoBM

Meezan Bank signs MoU with IoBM

Meezan Bank Limited and Institute of Business Management (IoBM), Karachi has signed a Memorandum of Understanding to facilitate capacity building in the country's Small and Medium Enterprises (SMEs) sector. The MoU highlights a collaborative framework for
Published 05 May, 2018 12:00am
SC appropriate forum to challenge Nawaz's powers: SHC

SC appropriate forum to challenge Nawaz's powers: SHC

Sindh High Court (SHC) on Friday ruled that Supreme Court (SC) is the appropriate forum to challenge Nawaz Sharif's powers bestowed on him by Pakistan Muslim League Nawaz (PML-N) under capacity of supreme leader. SHC directed the petitioner to move apex c
Published 05 May, 2018 12:00am
CCP penalises five battery makers

CCP penalises five battery makers

The Competition Commission of Pakistan (CCP) has passed an order imposing a penalty of Rs 1.0 million each on 5 Battery Manufacturers for violating Section 10 of the Competition Act, 2010 by hiding important information about their products from consumers
Published 05 May, 2018 12:00am
Sizzling heat likely to simmer down in Karachi

Sizzling heat likely to simmer down in Karachi

The continuing sizzling temperature is expected to simmer down a bit in Karachi to a maximum 38 degrees Celsius but not elsewhere in Sindh on Saturday, the Met Office said on Friday. Maximum temperature is expected to range up to 48 degrees Celsius, each,
Published 05 May, 2018 12:00am
SFA's ToRs notified to regulate and monitor food business

SFA's ToRs notified to regulate and monitor food business

Sindh Government has notified Terms of References (ToRs) for Sindh Food Authority (SFA) as well as its composition to regulate food business in the province. A notification issued from Sindh Chief Secretary's office stated Sindh Food Minister would head S
Published 05 May, 2018 12:00am
Dowites78 to set up free diabetic foot care clinic

Dowites78 to set up free diabetic foot care clinic

The Dowites78 Operation Theatre Complex Welfare Society at the Ruth K M Pfau Civil Hospital has announced the launch of a state-of-the- art, free of cost diabetes foot care and wound clinic on Friday. Dowites78 has started working to establish this facili
Published 05 May, 2018 12:00am
Food security & research: Muzaffar elected Senate panel chairman

Food security & research: Muzaffar elected Senate panel chairman

The Senate Standing Committee on National Food Security and Research in its inaugural meeting Friday elected Senator Muzaffar Hussain Shah unanimously as its chairman. His name was proposed by Senator Maula Bakhsh Chandio and was seconded by Senator Sajid
Published 05 May, 2018 12:00am
Imran's acquittal infuriates Nawaz

Imran's acquittal infuriates Nawaz

Keep on targeting the judiciary, the ousted premier Nawaz Sharif on Friday said those who should be punished are being acquitted while those who did nothing wrong are facing trials. Talking to the media outside the accountability court hearing corruption
Published 05 May, 2018 12:00am
The Weather

The Weather

The weather report on Friday (May 04, 2018) and the forecast for Saturday (May 05, 2018).

Published 05 May, 2018 12:00am
Jhagra administers oath to new ombudsman

Jhagra administers oath to new ombudsman

Governor Khyber Pakthunkhwa Engr Iqbal Zafar Jhagra administered oath to the newly appointed provincial Ombudsman Aqal Badshah at a special ceremony held at Governor House on Friday. The swearing in ceremony was attended among others by the provincial min
Published 05 May, 2018 12:00am
Security of 22 KP politicians restored

Security of 22 KP politicians restored

Khyber Pakhtunkhwa police has decided to restore the security of 22 politicians of the province including Asfandyar Wali, Ghulam Ahmad Bilour and Aftab Ahmad Khan Sherpao which was earlier withdrawn following the orders of Chief Justice Supreme Court. Acc
Published 05 May, 2018 12:00am
PTI to hold rallies in Waziristan and Karachi

PTI to hold rallies in Waziristan and Karachi

Central Secretary Information Pakistan Tehreek-e-Insaf, Fawad Chaudhry has announced that PTI would hold a public rally in Waziristan on May 11, 2018. He further said that PTI Chairman Imran Khan and senior leadership of the party would address the rally.
Published 05 May, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 04, 2018).

Published 05 May, 2018 12:00am
Lawyers' role critical to boost judicial system: Prime Minister

Lawyers' role critical to boost judicial system: Prime Minister

Prime Minister Shahid Khaqan Abbasi on Friday said that lawyers had a critical role in dispensation of justice and expressed hope that the country's legal fraternity would continue to play role in strengthening of judicial system and provision of speedy a
Published 05 May, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 04, 2018)

Published 05 May, 2018 12:00am
Excavation work at Buddhist site in Takht Bhai expedited

Excavation work at Buddhist site in Takht Bhai expedited

Directorate of Archaeology and Museums Khyber Pakhtunkhwa has accelerated the conservation and excavation work on 2000-year old, ancient Buddhist monastic site at Takht Bhai. Officials say that the department has so far completed 20-25 percent excavation
Published 05 May, 2018 12:00am
PC-1 cost of Diamer-Bhasha Dam may jump to Rs 31 billion

PC-1 cost of Diamer-Bhasha Dam may jump to Rs 31 billion

A parliamentary panel has been informed that the PC-1 cost of Diamer-Bhasha Dam is expected to increase by Rs 31 billion. The Senate Standing Committee on Planning, Development and Reform met here with Agha Shahzaib Khan Durrani in the chair on Friday. Th
Published 05 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 04, 2018).

Published 05 May, 2018 12:00am
Changing weather patterns

Changing weather patterns

The Climate Change Financing Framework (CCFF) launched by the Ministry of Climate Change is said to have identified different entry points for the mainstreaming of climate change into planning and budgeting processes, including in MTBF. Full implementatio
Published 05 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 04, 2018).

Published 05 May, 2018 12:00am
Insurers hit shift button despite Brexit grace period

Insurers hit shift button despite Brexit grace period

Lloyd's of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers.
Published 05 May, 2018 12:00am
PML-N scorecard (2013-2018)
Exchange

PML-N scorecard (2013-2018)

The incumbent government has successfully managed to present the federal budget 2018-19. What is however different this time is the unprecedented tax relief given to the middle-income group especially the salaried class. The incumbent government also avai
Published 05 May, 2018 12:00am
THE RUPEE: gains sharply
Currency

THE RUPEE: gains sharply

The rupee managed to recover sharply against the dollar on the money market on Friday in the process of trading activity, dealers said. The rupee stayed put in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they sai
Published 05 May, 2018 12:00am
Attacks on the Hazaras

Attacks on the Hazaras

Sectarian terrorists have repeatedly been targeting - four attacks in the last month claimed six lives - the besieged Shia Hazara community of Quetta. After the latest attack on Saturday, the Hazaras staged a sit-in outside the Balochistan Assembly and a
Published 05 May, 2018 12:00am
THE RUPEE: gains sharply
Currency

THE RUPEE: gains sharply

The rupee managed to recover sharply against the dollar on the money market on Friday in the process of trading activity, dealers said. The rupee stayed put in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they sai
Published 05 May, 2018 12:00am
PM fully aware of state of economy

PM fully aware of state of economy

According to a Business Recorder exclusive, Prime Minister Shahid Khaqan Abbasi fully cognizant of severe financial constraints facing the country 10 days before the presentation of the budget 2018-19 in parliament as on 17 April, during a Cabinet
Published 05 May, 2018 12:00am
Foreign currency transaction: SBP revises existing DFS
Currency

Foreign currency transaction: SBP revises existing DFS

The State Bank of Pakistan (SBP) has revised existing Data File Structure (DFS) for monthly reporting of foreign currency transaction by Authorized Dealers (ADs). ADs are required to report data related to foreign currency transactions including deposits,
Published 05 May, 2018 12:00am
Flipkart board approves $15 billion deal with Walmart: report

Flipkart board approves $15 billion deal with Walmart: report

Indian e-commerce giant Flipkart has agreed to sell 75 percent of the company to US retail behemoth Walmart for about $15 billion, a report said Friday, in what would be a blow to rival Amazon. Bloomberg News said Flipkart''s board had agreed the sale. Fl
Published 05 May, 2018 12:00am
Flipkart board approves $15 billion deal with Walmart: report

Flipkart board approves $15 billion deal with Walmart: report

Indian e-commerce giant Flipkart has agreed to sell 75 percent of the company to US retail behemoth Walmart for about $15 billion, a report said Friday, in what would be a blow to rival Amazon. Bloomberg News said Flipkart's board had agreed the sale. Fli
Published 05 May, 2018 12:00am
Flipkart board approves $15 billion deal with Walmart: report

Flipkart board approves $15 billion deal with Walmart: report

Indian e-commerce giant Flipkart has agreed to sell 75 percent of the company to US retail behemoth Walmart for about $15 billion, a report said Friday, in what would be a blow to rival Amazon. Bloomberg News said Flipkart's board had agreed the sale. Fli
Published 05 May, 2018 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (May 04, 2018).

Published 05 May, 2018 12:00am
No Nobel Literature Prize after MeToo turmoil

No Nobel Literature Prize after MeToo turmoil

For the first time in almost 70 years there will be no Nobel Literature Prize this year, after the Swedish Academy that selects the laureate failed to contain a deep crisis stemming from the anti-sexual harassment MeToo campaign.
Published 05 May, 2018 12:00am
No Nobel Literature Prize after MeToo turmoil

No Nobel Literature Prize after MeToo turmoil

For the first time in almost 70 years there will be no Nobel Literature Prize this year, after the Swedish Academy that selects the laureate failed to contain a deep crisis stemming from the anti-sexual harassment MeToo campaign.
Published 05 May, 2018 12:00am
Pemra imposes fine on news channels

Pemra imposes fine on news channels

Pakistan Electronic Media Regulatory Authority (PEMRA) has fined 17 satellite TV channels (News and Current Affairs) for airing fake news on April 16, 2018 that Lahore High Court had imposed ban on airing speeches of Muhammad Nawaz Sharif and his daughter
Published 05 May, 2018 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 05 May, 2018 12:00am
Pemra imposes fine on news channels

Pemra imposes fine on news channels

Pakistan Electronic Media Regulatory Authority (PEMRA) has fined 17 satellite TV channels (News and Current Affairs) for airing fake news on April 16, 2018 that Lahore High Court had imposed ban on airing speeches of Muhammad Nawaz Sharif and his daughter
Published 05 May, 2018 12:00am
Board Meetings
Exchange

Board Meetings

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 05 May, 2018 12:00am
Gunmen kill six labourers in Balochistan

Gunmen kill six labourers in Balochistan

Unknown gunmen shot dead six labourers in a remote Kharan, officials said Friday, in the latest bout of violence to rock the restive region. The murders took place overnight in Lajjey, about 170 kilometres (105 miles) southwest of Quetta, where Islamist m
Published 05 May, 2018 12:00am
Gunmen kill six labourers in Balochistan

Gunmen kill six labourers in Balochistan

Unknown gunmen shot dead six labourers in a remote Kharan, officials said Friday, in the latest bout of violence to rock the restive region. The murders took place overnight in Lajjey, about 170 kilometres (105 miles) southwest of Quetta, where Islamist m
Published 05 May, 2018 12:00am
Saudi Arabia launches $34.7 billion entertainment revolution

Saudi Arabia launches $34.7 billion entertainment revolution

After repealing a decades-long ban on cinemas only last year, Saudi Arabia has now launched an ambitious drive to become a culture and entertainment hub as part of sweeping modernisation plans. American film star Katie Holmes and British actor-cum-directo
Published 05 May, 2018 12:00am
Saudi Arabia launches $34.7 billion entertainment revolution

Saudi Arabia launches $34.7 billion entertainment revolution

After repealing a decades-long ban on cinemas only last year, Saudi Arabia has now launched an ambitious drive to become a culture and entertainment hub as part of sweeping modernisation plans. American film star Katie Holmes and British actor-cum-directo
Published 05 May, 2018 12:00am
Interim reference filed on basis of material collected by JIT: witness

Interim reference filed on basis of material collected by JIT: witness

A prosecution witness Friday told the Accountability Court that National Accountability Bureau (NAB) filed an interim reference with respect to the Avenfield properties against the Sharif family members on the basis of material collected by a joint invest
Published 05 May, 2018 12:00am
Interim reference filed on basis of material collected by JIT: witness

Interim reference filed on basis of material collected by JIT: witness

A prosecution witness Friday told the Accountability Court that National Accountability Bureau (NAB) filed an interim reference with respect to the Avenfield properties against the Sharif family members on the basis of material collected by a joint invest
Published 05 May, 2018 12:00am
China will continue to 'hold high the great banner of Marxism': Xi

China will continue to 'hold high the great banner of Marxism': Xi

Chinese president Xi Jinping pledged Friday his country will keep following Marxism, as the world's largest communist party prepares to mark the 200th birthday of Karl Marx. China will continue to "hold high the great banner of Marxism" and the party will
Published 05 May, 2018 12:00am
China will continue to 'hold high the great banner of Marxism': Xi

China will continue to 'hold high the great banner of Marxism': Xi

Chinese president Xi Jinping pledged Friday his country will keep following Marxism, as the world's largest communist party prepares to mark the 200th birthday of Karl Marx. China will continue to "hold high the great banner of Marxism" and the party will
Published 05 May, 2018 12:00am
US economists urge Trump to avoid protectionist mistakes of the 1930s

US economists urge Trump to avoid protectionist mistakes of the 1930s

More than 1,100 US economists signed a letter sent to President Donald Trump and to Congress on Thursday urging them to avoid repeating the mistakes that worsened the Depression in the 1930s. The economic advisors to two Republican and two Democratic pres
Published 05 May, 2018 12:00am
US economists urge Trump to avoid protectionist mistakes of the 1930s

US economists urge Trump to avoid protectionist mistakes of the 1930s

More than 1,100 US economists signed a letter sent to President Donald Trump and to Congress on Thursday urging them to avoid repeating the mistakes that worsened the Depression in the 1930s. The economic advisors to two Republican and two Democratic pres
Published 05 May, 2018 12:00am
US economists urge Trump to avoid protectionist mistakes of the 1930s

US economists urge Trump to avoid protectionist mistakes of the 1930s

More than 1,100 US economists signed a letter sent to President Donald Trump and to Congress on Thursday urging them to avoid repeating the mistakes that worsened the Depression in the 1930s. The economic advisors to two Republican and two Democratic pres
Published 05 May, 2018 12:00am
SC declares allotment, transfer of MDA land to Bahria illegal
Exchange

SC declares allotment, transfer of MDA land to Bahria illegal

The Supreme Court on Friday declared that grant of land to Malir Development Authority (MDA) by the Sindh government and its exchange with the land of Bahria Town is illegal. A three-member Supreme Court bench comprising Justice Ejaz Afzal Khan, Justice M
Published 05 May, 2018 12:00am
SC declares allotment, transfer of MDA land to Bahria illegal
Exchange

SC declares allotment, transfer of MDA land to Bahria illegal

The Supreme Court on Friday declared that grant of land to Malir Development Authority (MDA) by the Sindh government and its exchange with the land of Bahria Town is illegal. A three-member Supreme Court bench comprising Justice Ejaz Afzal Khan, Justice M
Published 05 May, 2018 12:00am
SC declares allotment, transfer of MDA land to Bahria illegal
Exchange

SC declares allotment, transfer of MDA land to Bahria illegal

The Supreme Court on Friday declared that grant of land to Malir Development Authority (MDA) by the Sindh government and its exchange with the land of Bahria Town is illegal. A three-member Supreme Court bench comprising Justice Ejaz Afzal Khan, Justice M
Published 05 May, 2018 12:00am
SC declares allotment, transfer of MDA land to Bahria illegal
Exchange

SC declares allotment, transfer of MDA land to Bahria illegal

The Supreme Court on Friday declared that grant of land to Malir Development Authority (MDA) by the Sindh government and its exchange with the land of Bahria Town is illegal. A three-member Supreme Court bench comprising Justice Ejaz Afzal Khan, Justice M
Published 05 May, 2018 12:00am
Gas, power companies'' networks: government starts work on Devolution

Gas, power companies'' networks: government starts work on Devolution

In a major policy decision, the federal government has started work on devolution of gas and power companies'' networks to the provinces, well- informed sources told Business Recorder. This decision was taken at a recent meeting of the Council of C
Published 05 May, 2018 12:00am
Gas, power companies' networks: government starts work on Devolution

Gas, power companies' networks: government starts work on Devolution

In a major policy decision, the federal government has started work on devolution of gas and power companies' networks to the provinces, well- informed sources told Business Recorder. This decision was taken at a recent meeting of the Council of Co
Published 05 May, 2018 12:00am
Gas, power companies' networks: government starts work on Devolution

Gas, power companies' networks: government starts work on Devolution

In a major policy decision, the federal government has started work on devolution of gas and power companies' networks to the provinces, well- informed sources told Business Recorder. This decision was taken at a recent meeting of the Council of Co
Published 05 May, 2018 12:00am
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