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Print - 2018-05-19
70th anniversary of diplomatic ties with Serbia celebrated

70th anniversary of diplomatic ties with Serbia celebrated

2018 marks the 70th anniversary of the establishment of diplomatic relations between Pakistan and Serbia. The two sides established diplomatic relations in 1948, when Pakistan was still in its nascent years.
Published 19 May, 2018 12:00am
Japan, EU unfurl reprisals against Trump tariffs

Japan, EU unfurl reprisals against Trump tariffs

US key allies Japan and the EU notified the World Trade Organization Friday of a wave of retaliatory measures against US tariffs on steel and aluminium, raising the prospects of a trade war. Japan informed the WTO it had the right to impose tariffs on US
Published 19 May, 2018 12:00am
Japan, EU unfurl reprisals against Trump tariffs

Japan, EU unfurl reprisals against Trump tariffs

US key allies Japan and the EU notified the World Trade Organization Friday of a wave of retaliatory measures against US tariffs on steel and aluminium, raising the prospects of a trade war. Japan informed the WTO it had the right to impose tariffs on US
Published 19 May, 2018 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Pakistan Stock Exchange.

Published 19 May, 2018 12:00am
Government gets fiscal year 2019 budget passed by NA
Currency

Government gets fiscal year 2019 budget passed by NA

The National Assembly Friday approved federal budget of Rs 5.932 trillion for the fiscal year 2018-19 by incorporating certain amendments in the Finance Bill, 2018 amid opposition and criticism of the opposition parties. The Lower House of the Parliament
Published 19 May, 2018 12:00am
Government gets fiscal year 2019 budget passed by NA
Currency

Government gets fiscal year 2019 budget passed by NA

The National Assembly Friday approved federal budget of Rs 5.932 trillion for the fiscal year 2018-19 by incorporating certain amendments in the Finance Bill, 2018 amid opposition and criticism of the opposition parties. The Lower House of the Parliament
Published 19 May, 2018 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Pakistan Stock Exchange.

Published 19 May, 2018 12:00am
Government gets fiscal year 2019 budget passed by NA
Currency

Government gets fiscal year 2019 budget passed by NA

The National Assembly Friday approved federal budget of Rs 5.932 trillion for the fiscal year 2018-19 by incorporating certain amendments in the Finance Bill, 2018 amid opposition and criticism of the opposition parties. The Lower House of the Parliament
Published 19 May, 2018 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 19 May, 2018 12:00am
Ceasefire violations: Indian HC summoned

Ceasefire violations: Indian HC summoned

Pakistan summoned Indian High Commissioner on Friday and lodged with him a strong protest over the ceasefire violations along the Line of Control and the Working Boundary which resulted in loss of lives of four civilians of a family and injuries to 10 oth
Published 19 May, 2018 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Pakistan Stock Exchange.

Published 19 May, 2018 12:00am
Ceasefire violations: Indian HC summoned

Ceasefire violations: Indian HC summoned

Pakistan summoned Indian High Commissioner on Friday and lodged with him a strong protest over the ceasefire violations along the Line of Control and the Working Boundary which resulted in loss of lives of four civilians of a family and injuries to 10 oth
Published 19 May, 2018 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 19 May, 2018 12:00am
C/A deficit widens to $14 billion mark in 10 months

C/A deficit widens to $14 billion mark in 10 months

With massive goods import bill, the country's current account deficit widened to $14 billion mark in the first ten months of this fiscal year (FY18). The external account alone posted near about some 2 billion dollar current account deficit in April 2018.
Published 19 May, 2018 12:00am
C/A deficit widens to $14 billion mark in 10 months

C/A deficit widens to $14 billion mark in 10 months

With massive goods import bill, the country's current account deficit widened to $14 billion mark in the first ten months of this fiscal year (FY18). The external account alone posted near about some 2 billion dollar current account deficit in April 2018.
Published 19 May, 2018 12:00am
C/A deficit widens to $14 billion mark in 10 months

C/A deficit widens to $14 billion mark in 10 months

With massive goods import bill, the country''s current account deficit widened to $14 billion mark in the first ten months of this fiscal year (FY18). The external account alone posted near about some 2 billion dollar current account deficit in April 2018
Published 19 May, 2018 12:00am
Water talks on 21st in Washington

Water talks on 21st in Washington

Pakistan and India are to hold talks on controversial hydroelectric projects under construction in Held Kashmir on May 21 in Washington under the auspices of the World Bank, official sources told Business Recorder. Pakistani delegation will compris
Published 19 May, 2018 12:00am
Water talks on 21st in Washington

Water talks on 21st in Washington

Pakistan and India are to hold talks on controversial hydroelectric projects under construction in Held Kashmir on May 21 in Washington under the auspices of the World Bank, official sources told Business Recorder. Pakistani delegation will compris
Published 19 May, 2018 12:00am
Water talks on 21st in Washington

Water talks on 21st in Washington

Pakistan and India are to hold talks on controversial hydroelectric projects under construction in Held Kashmir on May 21 in Washington under the auspices of the World Bank, official sources told Business Recorder. Pakistani delegation will compris
Published 19 May, 2018 12:00am
Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Pakistan on Friday expressed serious concern about inauguration of Kishanganga Hydroelectric Project (KHEP) by India in violation of the Indus Waters Treaty (IWT). "Pakistan is seriously concerned about the inauguration of Kishanganga Hydroelectric Projec
Published 19 May, 2018 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (May 18, 2018).

Published 19 May, 2018 12:00am
Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Pakistan on Friday expressed serious concern about inauguration of Kishanganga Hydroelectric Project (KHEP) by India in violation of the Indus Waters Treaty (IWT). "Pakistan is seriously concerned about the inauguration of Kishanganga Hydroelectric Projec
Published 19 May, 2018 12:00am
Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Kishanganga Hydroelectric Project: Pakistan concerned at inauguration

Pakistan on Friday expressed serious concern about inauguration of Kishanganga Hydroelectric Project (KHEP) by India in violation of the Indus Waters Treaty (IWT). "Pakistan is seriously concerned about the inauguration of Kishanganga Hydroelectric Projec
Published 19 May, 2018 12:00am
Bearish trend continues

Bearish trend continues

Bearish trend continued on Pakistan Stock Exchange (PSX) due to selling in various sectors. BRIndex100 lost 32.58 points or 0.73 percent to close at 4,420.88 points on Friday. During the session, the BRIndex-100 touched an intraday high of 4,464.04 and an
Published 19 May, 2018 12:00am
Bearish trend continues

Bearish trend continues

Bearish trend continued on Pakistan Stock Exchange (PSX) due to selling in various sectors. BRIndex100 lost 32.58 points or 0.73 percent to close at 4,420.88 points on Friday. During the session, the BRIndex-100 touched an intraday high of 4,464.04 and an
Published 19 May, 2018 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

The rupee depicted modest improvement against the dollar on the money market on Friday in the process of trading activity, dealers said. The rupee picked up two paisas in relation to the dollar for buying and selling Rs 115.58 and Rs 115.60 respectively,
Published 19 May, 2018 12:00am
Bearish trend continues

Bearish trend continues

Bearish trend continued on Pakistan Stock Exchange (PSX) due to selling in various sectors. BRIndex100 lost 32.58 points or 0.73 percent to close at 4,420.88 points on Friday. During the session, the BRIndex-100 touched an intraday high of 4,464.04 and an
Published 19 May, 2018 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

The rupee depicted modest improvement against the dollar on the money market on Friday in the process of trading activity, dealers said. The rupee picked up two paisas in relation to the dollar for buying and selling Rs 115.58 and Rs 115.60 respectively,
Published 19 May, 2018 12:00am
Many feared dead, injured in passenger plane crash in Cuba

Many feared dead, injured in passenger plane crash in Cuba

A Boeing 737 plane crashed on Friday shortly after taking off from Havana's main airport on a domestic flight, with a number of people feared dead or injured, Reuters witnesses and officials said. There were at least three possible survivors among the 105
Published 19 May, 2018 12:00am
Top Paris restaurant probed over 'anti-Arab discrimination'

Top Paris restaurant probed over 'anti-Arab discrimination'

French authorities launched an investigation Friday into accusations that a top Parisian restaurant, favoured by celebrities like Kim Kardashian and Rihanna, systematically sought to decline reservations from Arab, African or veil-wearing customers. The B
Published 19 May, 2018 12:00am
Written off loans: SC issues notices to individuals, companies

Written off loans: SC issues notices to individuals, companies

The Supreme Court on Friday issued notices to individuals / companies who got loans of Rs 54 billion written off. A two-member bench, headed by Chief Justice Mian Saqib Nisar and comprising Justice Mushir Alam, hearing a suo motu case No 26 of 2007 with H
Published 19 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 18, 2018).

Published 19 May, 2018 12:00am
Written off loans: SC issues notices to individuals, companies

Written off loans: SC issues notices to individuals, companies

The Supreme Court on Friday issued notices to individuals / companies who got loans of Rs 54 billion written off. A two-member bench, headed by Chief Justice Mian Saqib Nisar and comprising Justice Mushir Alam, hearing a suo motu case No 26 of 2007 with H
Published 19 May, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 18, 2018).

Published 19 May, 2018 12:00am
US doesn't give up 'do more' mantra

US doesn't give up 'do more' mantra

The United States on Friday expressed hope that Pakistan will be a partner in safeguarding the region and would "do more" to uphold regional peace in South Asia. The statement was passed by Assistant to the Secretary of Defence for Public Affairs Dana Whi
Published 19 May, 2018 12:00am
US doesn't give up 'do more' mantra

US doesn't give up 'do more' mantra

The United States on Friday expressed hope that Pakistan will be a partner in safeguarding the region and would "do more" to uphold regional peace in South Asia. The statement was passed by Assistant to the Secretary of Defence for Public Affairs Dana Whi
Published 19 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 18, 2018)

Published 19 May, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 18, 2018).

Published 19 May, 2018 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 19 May, 2018 12:00am
Erdogan urges Muslim unity against Israel's 'brutality'

Erdogan urges Muslim unity against Israel's 'brutality'

Turkish President Recep Tayyip Erdogan on Friday urged the Islamic world to show greater unity in supporting the Palestinians, saying Muslim leaders needed to overcome divisions to combat Israel's "brutality". Erdogan first addressed thousands in Istanbul
Published 19 May, 2018 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 19 May, 2018 12:00am
Erdogan urges Muslim unity against Israel's 'brutality'

Erdogan urges Muslim unity against Israel's 'brutality'

Turkish President Recep Tayyip Erdogan on Friday urged the Islamic world to show greater unity in supporting the Palestinians, saying Muslim leaders needed to overcome divisions to combat Israel's "brutality". Erdogan first addressed thousands in Istanbul
Published 19 May, 2018 12:00am
The Weather

The Weather

The weather report on Friday (May 18, 2018) and the forecast for Saturday (May 19, 2018).

Published 19 May, 2018 12:00am
10 killed in Texas high school shooting

10 killed in Texas high school shooting

A male student who entered a Texas high school on Friday and shot dead ten people, including fellow pupils, had planned to end the attack with his suicide but instead surrendered to police, Texas Governor Greg Abbott said. Students said a gunman opened fi
Published 19 May, 2018 12:00am
10 killed in Texas high school shooting

10 killed in Texas high school shooting

A male student who entered a Texas high school on Friday and shot dead ten people, including fellow pupils, had planned to end the attack with his suicide but instead surrendered to police, Texas Governor Greg Abbott said. Students said a gunman opened fi
Published 19 May, 2018 12:00am
Fits and starts justice

Fits and starts justice

The May 12, 2007 massacre in Karachi with a toll of 50 people killed and 100 wounded has never been brought to conclusion in our courts of justice. The mayhem at the hands of gunmen who attacked the rallies of political parties, lawyers and others wanting
Published 19 May, 2018 12:00am
Fata reforms: an unfinished agenda

Fata reforms: an unfinished agenda

It has been nearly two years since the Fata Reforms Committee, headed by Sartaj Aziz, presented its report to the government recommending, among other measures, the Federally Administered Tribal Areas' merger with Khyber Pakhtunkhwa. The recommendations,
Published 19 May, 2018 12:00am
Economic challenges for next govt

Economic challenges for next govt

The economic challenges for the next elected government will be more formidable than those inherited by the incumbent government in May 2013. It was then long hours of power shutdown, loss-making public sector entities, mounting circular debt, poor econom
Published 19 May, 2018 12:00am
All about narratives, demonetisation and debt

All about narratives, demonetisation and debt

Democracy's annoying obsession with narratives has been more inexplicable than vexing; why should there always be a narrative and what is meant by the war of narratives. I have tried to argue the theory of narratives, being sarcastic here since clearly no
Published 19 May, 2018 12:00am
Founder of Dubai-based Abraaj faces investor revolt

Founder of Dubai-based Abraaj faces investor revolt

Arif Naqvi, the founder of one of the Middle East's biggest private equity firms, Abraaj, is facing calls from investors to further scale back his involvement in the group amid a row over misuse of funds, two people with knowledge of the matter said.
Published 19 May, 2018 12:00am
Fundamental rights

Fundamental rights

Fundamental rights have been enshrined in our Constitution Chapter 1 of the Constitution contains articles about the fundamental rights. Articles 8 to 28 of Constitution deal with the all fundamental rights provided to the citizens of Pakistan. The questi
Published 19 May, 2018 12:00am
Concessional financing scheme for SMEs

Concessional financing scheme for SMEs

The State Bank has recently announced a concessional financing scheme for SMEs which was reported in Business Recorder also.
Published 19 May, 2018 12:00am
Major portion of Swat Motorway to open on May 21

Major portion of Swat Motorway to open on May 21

The major portion of Swat Motorway from Karnal Sher Khan to Katlang interchange covering 50-kilometers will be opened for public transport on May 21 of the current month. The next phase covering 30-Kilometers from Katlang to Chakdara will be opened to tra
Published 19 May, 2018 12:00am
Mohmand Agency: 14 prisoners released on eve of Ramazan

Mohmand Agency: 14 prisoners released on eve of Ramazan

The Political Administration of Mohmand Agency on Friday released 14 prisoners, mostly detained for petty issues on eve of Ramzan-ul-Mubarak. The prisoners were released on the directives issued by the Political agent Muhammad Wasif Saeed while presiding
Published 19 May, 2018 12:00am
Rotterdam vegetable oil prices
Vegetable Oil

Rotterdam vegetable oil prices

The following were Friday's Rotterdam vegetable oil prices at 1600 GMT: (Please note: Markets will be closed on Monday May 21 for Whitsun holiday).
Published 19 May, 2018 12:00am
Nishan-i-Imtiaz conferred on Chinese CMC's vice chairman

Nishan-i-Imtiaz conferred on Chinese CMC's vice chairman

Acting President Muhammad Sadiq Sanjrani conferred the Nishan-i-Imtiaz (Military) upon General Zhang Youxia, Vice Chairman of Chinese Central Military Commission during an Investiture Ceremony at the Aiwan-e-Sadr, Islamabad on Friday. All Services Chiefs,
Published 19 May, 2018 12:00am
Cheema remand to NAB for three days

Cheema remand to NAB for three days

An accountability court on Friday granted three days remand to National Accountability Bureau (NAB) of former Director General Lahore Development Authority Ahad Khan Cheema and Shahid Shafique of Bismillah Engineering involved in Ashiana Housing Scheme sc
Published 19 May, 2018 12:00am
Water shortage to adversely affect Kharif crops
Cotton

Water shortage to adversely affect Kharif crops

The severe water shortage in the country is projected to negatively impact on major kharif crops, cotton, rice and maize, which would make agriculture growth rate target of 3.8 percent for 2018-19 unachievable.
Published 19 May, 2018 12:00am
SECP revokes CICL's registration as non-life insurer

SECP revokes CICL's registration as non-life insurer

The Securities and Exchange Commission of Pakistan (SECP) has revoked the registration of "Capital Insurance Company Limited" (company) as a non-life insurer with effect from May 17, 2018. According to a notification SRO 619(I)/2018 issued by the SECP her
Published 19 May, 2018 12:00am
PM attending extraordinary OIC summit in Istanbul

PM attending extraordinary OIC summit in Istanbul

Prime Minister Shahid Khaqan Abbasi is leading the Pakistan delegation to the 7th Extraordinary OIC Summit being held on Friday in Istanbul to discuss the grave situation in the aftermath of blatant human rights violations by the occupying forces in the s
Published 19 May, 2018 12:00am
Gang-rape case: PHC bench upholds lower court's verdict

Gang-rape case: PHC bench upholds lower court's verdict

A two-member Peshawar High Court (PHC) Abbottabad bench Friday maintained the District and Sessions Judge Mansehra verdict in the gang rape case and announced 14 years sentence to the prime suspect Qari Naseer. The PHC Abbottabad bench comprising Justice
Published 19 May, 2018 12:00am
Licence of HPSAP never cancelled: Syed Mazhar

Licence of HPSAP never cancelled: Syed Mazhar

Syed Mazhar Ali Nasir, Senior Vice President FPCCI has strongly condemned the baseless propaganda by Mian Nasser Hayatt Magoo casting doubts about the legality of his present position in the Federation. Syed Mazhar Ali Nasir said that Magoo was defeated b
Published 19 May, 2018 12:00am
Government accused of not focusing on mega water reservoirs projects

Government accused of not focusing on mega water reservoirs projects

The outgoing government has not focused on mega water reservoirs projects during its five-year term, despite several warnings from international and domestic experts that the country is heading towards becoming a water scarce country due to change in weat
Published 19 May, 2018 12:00am
Nawaz's Mumbai attack remarks: Pakistan may face US sanctions: Qureshi

Nawaz's Mumbai attack remarks: Pakistan may face US sanctions: Qureshi

Pakistan Tehreek-e-Insaf (PTI) vice chairman Shah Mahmood Qureshi on Friday said Pakistan might face US sanctions on the basis of former prime minister Nawaz Sharif's controversial remarks on 2008 Mumbai attacks. Talking to the journalists here, Qureshi s
Published 19 May, 2018 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold prices rebounded on Friday, as the US dollar eased after Italian political tension sparked a sell-off in the country's bond markets and investors sought a safe haven in bullion. Spot gold gained 0.2 percent at $1,292.12 per ounce by 1:33 p.m. EDT (17
Published 19 May, 2018 12:00am
US MIDDAY: wheat, corn and soya up

US MIDDAY: wheat, corn and soya up

US wheat futures rallied on Friday, with the benchmark Chicago Board of Trade soft red winter wheat contract surging 3 percent on forecasts for dry conditions that could further stress an already damaged crop. The weather outlook also threatened to slow p
Published 19 May, 2018 12:00am
Gold dips in Europe

Gold dips in Europe

Gold prices dipped on Friday, weighed down by a firmer dollar, but some traders said signs pointed to a rebound. Spot gold was down 0.1 percent at $1,288.41 per ounce at 1400 GMT, after hitting its lowest since Dec. 27 in the previous session at $1,285.41
Published 19 May, 2018 12:00am
Gold down in Asia

Gold down in Asia

Gold prices edged down on Friday to near their lowest levels this year, pressured by a firm US dollar amid surging US Treasury yields. Spot gold was down about 0.1 percent at $1,289.35 per ounce at 0657 GMT, after hitting its lowest since Dec. 27 in the p
Published 19 May, 2018 12:00am
Gold flat in New York
Currency

Gold flat in New York

Gold was flat after sliding to a fresh 2018 low on Thursday as another rise in US bond yields and concerns over political risk in Italy held the dollar index near its 2018 peak. The precious metal has fallen more than 2 percent this week on gains in the U
Published 19 May, 2018 12:00am
Cocoa springs back; coffee, sugar up
Currency

Cocoa springs back; coffee, sugar up

Cocoa futures on ICE rose on Friday after tapping multi-week lows, as funds traded both sides of the market amid West African mid-crop pressure and signs of increasing demand. Raw sugar also gained, on worries about dry weather in Brazil. July New York co
Published 19 May, 2018 12:00am
Palm oil climbs to five-week high
Vegetable Oil

Palm oil climbs to five-week high

Malaysian palm oil futures rose as much as 1 percent on Friday to their highest in more than five weeks, tracking gains in related edible oils and crude oil, while a weaker ringgit also lent support. The benchmark palm oil contract for August delivery on
Published 19 May, 2018 12:00am
Rotterdam vegetable oil prices
Vegetable Oil

Rotterdam vegetable oil prices

The following were Friday's Rotterdam vegetable oil prices at 1600 GMT: (Please note: Markets will be closed on Monday May 21 for Whitsun holiday).
Published 19 May, 2018 12:00am
France freezes company assets over Syria chemical weapons

France freezes company assets over Syria chemical weapons

France on Friday imposed a six-month asset freeze on several international companies allegedly linked to a chemical weapons programme in Syria, as ministers meeting in Paris vowed that governments that gas their own people would not go unpunished. The ass
Published 19 May, 2018 12:00am
Trump alleges FBI spy inside his campaign

Trump alleges FBI spy inside his campaign

President Donald Trump alleged Friday that the FBI planted an informer in his 2016 election campaign, stepping up efforts to cast Special Counsel Robert Mueller's Russia probe as a politically-driven "witch hunt".
Published 19 May, 2018 12:00am
Putin approves new government without major changes

Putin approves new government without major changes

Russian President Vladimir Putin on Friday approved a new government with key posts largely unchanged for his fourth Kremlin term. Veteran foreign minister Sergei Lavrov and Defence Minister Sergei Shoigu both retained their posts in the government.
Published 19 May, 2018 12:00am
Migrants held in limbo after police dismantle Sarajevo camp

Migrants held in limbo after police dismantle Sarajevo camp

Hundreds of migrants were left in limbo for hours Friday after Bosnian police dismantled a makeshift camp in Sarajevo but police in the south refused to let them reach a centre offering them accommodation. The standoff came after police carried out a two-
Published 19 May, 2018 12:00am
Migrant girl died from 'bullet' after Belgium police chase

Migrant girl died from 'bullet' after Belgium police chase

A two-year-old girl of Kurdish origin who died after police gave chase to a van carrying illegal migrants in Belgium succumbed to a bullet wound to the face, prosecutors said Friday. The police had opened fire to stop the van after a highway chase between
Published 19 May, 2018 12:00am
Israel builds 'missile net' on border to protect airport

Israel builds 'missile net' on border to protect airport

Israel has built a unique "missile net" to defend a new airport, as part of a newly-completed segment of its eastern border barrier, a military official said Friday. The 34-kilometre (21-mile) fence runs along Israel's border with Jordan, beginning near t
Published 19 May, 2018 12:00am
Egypt opens Gaza border for Ramazan

Egypt opens Gaza border for Ramazan

Egyptian President Abdel Fattah al-Sisi has taken the rare decision to open the Rafah border crossing with Gaza for the entire holy month of Ramazan after Israel killed some 60 Palestinian protesters in the enclave this week. The decision was made "to all
Published 19 May, 2018 12:00am
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