News Archives for Print - 2018-06-13 - Business Recorder

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Print - 2018-06-13

British PM avoids Brexit defeat in knife-edge parliament vote

British PM avoids Brexit defeat in knife-edge parliament vote

British Prime Minister Theresa May narrowly avoided a major blow to her Brexit strategy Tuesday after MPs rejected a plan that would have given parliament a veto on the final deal negotiated with Brussels.

Published 13 Jun, 2018 12:00am

Landslides kill 12 as monsoon batters Rohingya refugees

Landslides kill 12 as monsoon batters Rohingya refugees

Landslides triggered by monsoon rains killed at least 12 people Tuesday in Bangladesh near camps housing one million Rohingya refugees, officials said.

Published 13 Jun, 2018 12:00am

Greece announces accord in Macedonia name row

Greece announces accord in Macedonia name row

Athens and Skopje have agreed on a new name for the country of Macedonia to end a 27-year dispute, Greek Prime Minister Alexis Tsipras said on Tuesday.

Published 13 Jun, 2018 12:00am

US unveils 'milestone' new de facto embassy in Taiwan

US unveils 'milestone' new de facto embassy in Taiwan

The United States on Tuesday unveiled a new $255 million de facto embassy in Taiwan in what was hailed as a "milestone" in relations, drawing the ire of China which considers the self-ruled island as part of its territory.

Published 13 Jun, 2018 12:00am

Israel police evict wildcat settlers

Israel police evict wildcat settlers

Israeli police evicted settlers from homes in a West Bank outpost on Tuesday ahead of a court deadline to leave structures built on Palestinian territory, an AFP correspondent reported.

Published 13 Jun, 2018 12:00am

Taliban launch attacks as Afghan government ceasefire starts

Taliban launch attacks as Afghan government ceasefire starts

Taliban fighters killed a governor and took control of his district as clashes broke out across Afghanistan despite the start of a government ceasefire, officials said Tuesday. There was intense fighting between Afghan security forces and Taliban gunmen i

Published 13 Jun, 2018 12:00am

Air strike kills 10 civilians in northeast Syria

Air strike kills 10 civilians in northeast Syria

An air raid on a village in northeast Syria held by the Islamic State jihadist group killed at least 10 civilians including three children on Tuesday, a Britain-based monitor said. The Syrian Observatory for Human Rights said the strikes on Tal al-Shair i

Published 13 Jun, 2018 12:00am

Anti-rebel forces prepare for Yemen port attack despite UN alarm

Anti-rebel forces prepare for Yemen port attack despite UN alarm

Pro-government forces fighting Yemen's Huthi rebels are sending reinforcements towards the port of Hodeida, military sources said Tuesday, amid UN warnings against a high-stakes battle for the key aid gateway.

Published 13 Jun, 2018 12:00am

Armed man holds hostages in central Paris

Armed man holds hostages in central Paris

Dozens of police officers converged on a street in central Paris on Tuesday after an armed man took hostages, police sources said. The man was "armed and holding at least two people," a source told AFP, adding that "the situation is quite confused", but d

Published 13 Jun, 2018 12:00am

EU tensions flare over migrants as Macron blasts Italy

EU tensions flare over migrants as Macron blasts Italy

French President Emmanuel Macron blasted Italy on Tuesday for "irresponsibility" after it turned away a rescue boat carrying African migrants, exposing deep tensions in the European Union over the issue. The decision by Italy to stop the Aquarius rescue b

Published 13 Jun, 2018 12:00am

Paris suburban train overturns in landslide

Paris suburban train overturns in landslide

A suburban train overturned outside Paris on Tuesday after days of downpours caused an embankment to collapse, slightly injuring seven people including a pregnant woman. The accident happened just before 5am (0300 GMT) as the RER commuter train was headin

Published 13 Jun, 2018 12:00am

EU set to shut UK, US out of defence fund

EU set to shut UK, US out of defence fund

The European Union will on Wednesday present its new 13-billion-euro defence fund, but conditions for taking part will shut out "third countries" including post-Brexit Britain and the United States, officials have told AFP.

Published 13 Jun, 2018 12:00am

Shanghai copper slips

Shanghai copper slips

Shanghai copper prices slid for the first time in eight days on Tuesday, while London copper continued to lose ground as the dollar strengthened and BHP responded to a proposal from unionised workers at its Escondida copper mine in Chile.

Published 13 Jun, 2018 12:00am

Copper dips as inventories released, aluminium up

Copper dips as inventories released, aluminium up

Copper eased for a third day on Tuesday as investors took profits, a big position in inventories eased and a labour settlement in Chile raised prospects for a deal at top mine Escondida. Three-month copper on the London Metal Exchange closed down 0.5 perc

Published 13 Jun, 2018 12:00am

Iraq to expand Nasiriya oilfield production to 100,000 bpd

Iraq to expand Nasiriya oilfield production to 100,000 bpd

Iraq's government voted to expand production from its Nasiriya oilfield to 100,000 barrels per day, Prime Minister Haider al-Abadi said on Tuesday.

Published 13 Jun, 2018 12:00am

Oil mixed as Opec cites uncertain market outlook for 2018

Oil mixed as Opec cites uncertain market outlook for 2018

Oil prices were mixed on Tuesday, with US crude edging higher and Brent crude slipping, as investors prepared for a key meeting of the Opec producer group next week. Brent crude futures dipped 66 cents to trade at $75.80 a barrel by 2:13 pm (1813 GMT), wh

Published 13 Jun, 2018 12:00am

Rubber springs back

Rubber springs back

Benchmark Tokyo rubber futures snapped a two-day losing streak on Tuesday on the back of a weaker yen, but higher inventories kept prices anchored around a two-week low hit a day earlier. The Tokyo Commodity Exchange rubber contract for November delivery

Published 13 Jun, 2018 12:00am

Rotterdam vegetable oil prices

Vegetable Oil

Rotterdam vegetable oil prices

The following were Tuesday's Rotterdam vegetable oil prices at 1600 GMT:

Published 13 Jun, 2018 12:00am

Rotterdam vegetable oil prices

Vegetable Oil

Rotterdam vegetable oil prices

The following were Tuesday's Rotterdam vegetable oil prices at 1600 GMT:

Published 13 Jun, 2018 12:00am

Malaysian palm oil slides to near two-year low

Vegetable Oil

Malaysian palm oil slides to near two-year low

Malaysian palm oil futures dropped more than 1 percent to their lowest in nearly two years on Tuesday, weighed down by the government's decision to maintain an export tax for July and due to lacklustre demand. The benchmark palm oil contract for August de

Published 13 Jun, 2018 12:00am

Raw sugar rises; arabica coffee and cocoa up

Currency

Raw sugar rises; arabica coffee and cocoa up

Raw sugar futures on ICE were firm on Tuesday, but pared gains on pressure from position-rolling out of the July contract after buying by trend-following funds petered out. Arabica coffee and cocoa prices were also higher. October raw sugar settled up 0.0

Published 13 Jun, 2018 12:00am

Gold slightly higher in New York

Gold slightly higher in New York

Gold inched higher on Monday, as investors anticipated the US central bank monetary policy meeting this week that is expected to boost interest rates, and ahead of a US-North Korea summit. Spot gold gained 0.1 percent to $1,299.83 ounce by 1:46 p.m. EDT (

Published 13 Jun, 2018 12:00am

Gold dips in Asia

Gold dips in Asia

Gold prices edged lower on Tuesday as the dollar strengthened following a positive US-North Korea summit, with markets now waiting for a likely interest rate hike by the US Federal Reserve. Spot gold was down 0.1 percent at $1,297.96 per ounce at 0719 GMT

Published 13 Jun, 2018 12:00am

Gold locked below $1,300 in Europe

Gold locked below $1,300 in Europe

Gold prices remained locked just below $1,300 an ounce on Tuesday as investors waited for clues on the pace of US interest rate rises from a Federal Reserve meeting this week. A Fed statement and press conference expected from 1800 GMT on Wednesday could

Published 13 Jun, 2018 12:00am

US MIDDAY: Wheat surges

US MIDDAY: Wheat surges

US wheat futures surged over 3 percent on Tuesday after the US Department of Agriculture slashed its estimate for production in top exporter Russia. Corn futures jumped more than 2 percent while soyabeans notched more modest gains in the wake of the month

Published 13 Jun, 2018 12:00am

US MIDDAY: gold stays lower

US MIDDAY: gold stays lower

Gold prices remained locked just below $1,300 an ounce on Tuesday as investors waited for clues on the pace of US interest rate rises following the impending conclusion of a Federal Reserve policymaking meeting. A Fed statement and press conference expect

Published 13 Jun, 2018 12:00am

Companies Act amended: licensing requirements for charitable associations revised

Companies Act amended: licensing requirements for charitable associations revised

The Securities and Exchange Commission of Pakistan (SECP) Tuesday amended the Companies Act 2017 to revise the licensing requirements for associations having charitable and not-for-profit objectives. The SECP has issued SRO 732(I)/2018 to amend the First

Published 13 Jun, 2018 12:00am

Ahmed Waqas assumes charge of Punjab's Information Minister

Ahmed Waqas assumes charge of Punjab's Information Minister

Caretaker Punjab Information and Culture Minister Ahmed Waqas Riaz has formally assumed his office here on Tuesday. Punjab Information and Culture Secretary Abdullah Khan Sumbal called on the Minister and extend his felicitations. He also briefed the Mini

Published 13 Jun, 2018 12:00am

SC seeks reply from two IHC judges

SC seeks reply from two IHC judges

The Supreme Court on Tuesday sought replies from two serving Islamabad High Court judges and lawyers charging fee for Employees Old Age Benefit (EOBI) without the approval of the federal law ministry. The proceedings when commenced, the Chief Justice of P

Published 13 Jun, 2018 12:00am

Contributory funds: SECP prescribes new limits and conditions

Contributory funds: SECP prescribes new limits and conditions

The Securities and Exchange Commission of Pakistan (SECP) has prescribed new limits and conditions for employees' contributory funds, provident funds or any other contributory retirement funds intended to make investment in listed securities.

Published 13 Jun, 2018 12:00am

Akzo Nobel Pakistan Limited

Mutual Funds

Akzo Nobel Pakistan Limited

Akzo Nobel traces its history in Pakistan to 1944 when Khewra Soda Ash Company, predecessor of ICI Pakistan Limited, set up a manufacturing facility in Khewra. In 1952, ICI was set up as a public limited company; However, its presence predates creation of

Published 13 Jun, 2018 12:00am

Akzo Nobel Pakistan Limited

Mutual Funds

Akzo Nobel Pakistan Limited

Akzo Nobel traces its history in Pakistan to 1944 when Khewra Soda Ash Company, predecessor of ICI Pakistan Limited, set up a manufacturing facility in Khewra. In 1952, ICI was set up as a public limited company; However, its presence predates creation of

Published 13 Jun, 2018 12:00am

Pakistani film to be screened at SCO Film Festival

Pakistani film to be screened at SCO Film Festival

A Pakistani feature film is all set to represent the country at the Shanghai Cooperation Organization (SCO) Film Festival to be held in Qingdao, east China's Shandong Province from June 13 to 17, an official said on Tuesday.

Published 13 Jun, 2018 12:00am

Entrance test for KP, medical, dental colleges to be held on July 15

Entrance test for KP, medical, dental colleges to be held on July 15

Educational Testing and Evaluation Agency (ETEA) entrance test 2018 for admission in public and private sector medical and dental colleges of Khyber Pakhtunkhwa under the auspices of Khyber Medical University (KMU) Peshawar will be held on July 15.

Published 13 Jun, 2018 12:00am

SECP notifies regulations for non-profit bodies

SECP notifies regulations for non-profit bodies

The Securities and Exchange Commission of Pakistan (SECP) has notified the Associations with Charitable and Not for Profit Objects Regulations, 2018.

Published 13 Jun, 2018 12:00am

Dependency on imported seed: SAP urged to submit detailed proposal

Dependency on imported seed: SAP urged to submit detailed proposal

Additional Secretary Agriculture (Planning) Punjab Dr Ghazanfar Ali Khan has asked the Seed Association of Pakistan (SAP) to submit a detailed proposal on how to reduce dependency on imported seed by ensuring technology transfer and encouraging local prod

Published 13 Jun, 2018 12:00am

Imran visits Roza-e-Rasool (PBUH) along with wife

Imran visits Roza-e-Rasool (PBUH) along with wife

Pakistan Tehreek-i-Insaf (PTI) chairman Imran Khan visited the Roza-e-Rasool (Peace Be Upon Him) in Madina and offered Nawaffil. The PTI leader is in Saudi Arab to perform Umrah. He is accompanied by his wife Bushar Manika and a party leader.

Published 13 Jun, 2018 12:00am

Zainab's case: SC dismisses Imran Ali's appeal against death penalty

Zainab's case: SC dismisses Imran Ali's appeal against death penalty

The Supreme Court on Tuesday dismissed appeal of Imran Ali against his death penalty awarded in Zainab Amin's case. The bench held, "apart from pleading guilty to the charge and making a confession by the petitioner there were many pieces of evidence brou

Published 13 Jun, 2018 12:00am

BMP, PBG hail appointment of Anjum Nisar as Punjab caretaker minister

BMP, PBG hail appointment of Anjum Nisar as Punjab caretaker minister

Leaders of Businessmen Panel (BMP) and Pakistan Business Group (PBG) have hailed the appointment of Mian Anjum Nisar, Chairman Businessmen Panel (BMP) as Punjab Caretaker Minister of Commerce, Industries, Investment, Mines & Mineral.

Published 13 Jun, 2018 12:00am

Askari lauds Rangers' services

Askari lauds Rangers' services

Paying rich tributes to the services of officers and jawans of rangers, the caretaker Punjab Chief Minister Hasan Askari Rizvi Tuesday said the services of rangers in national security and improving the law and order situation are praiseworthy.

Published 13 Jun, 2018 12:00am

Drip irrigation system: PAD for creating awareness among farmers

Drip irrigation system: PAD for creating awareness among farmers

Water saving is need of the time and drip irrigation and high efficiency irrigation system installation can help a lot in saving available water. This was stated by a spokesman of the Punjab Agriculture Department here on Tuesday. Spokesman said that Paki

Published 13 Jun, 2018 12:00am

No two FIRs for the same offence, rules SC

No two FIRs for the same offence, rules SC

A Supreme Court's full bench observed on Tuesday that no separate First Information Report (FIR) is required for new version after registration of first criminal case in any incident.

Published 13 Jun, 2018 12:00am

Fortress Sqaure hosts Iftar for children of SOS Village

Fortress Sqaure hosts Iftar for children of SOS Village

Fortress Square Mall in collaboration with MC Donalds hosted a special Iftar evening with the children of SOS Village Lahore at Fortress Sqaure Mall. This was followed by a round of fun activities with the children which included games and fun tour of spa

Published 13 Jun, 2018 12:00am

LCCI demands immediate withdrawal of PoL price hike

LCCI demands immediate withdrawal of PoL price hike

The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday strongly criticized the bulk increase in petroleum products prices and said that caretaker government has implemented the Oil & Gas Regulatory Authority (OGRA)'s bad decision that must be withd

Published 13 Jun, 2018 12:00am

CM directs for safety of swings at public parks

CM directs for safety of swings at public parks

The caretaker Chief Minister Dr Hasan Askari Rizvi on Tuesday directed that safety of swings installed at public parks and other recreational places should be ensured at every cost, while best cleanliness arrangements should be made in cities on Eid days.

Published 13 Jun, 2018 12:00am

Vulture population drops by over 95 percent in South Asia

Vulture population drops by over 95 percent in South Asia

Vulture populations in South Asia have collapsed by over 95% since the mid-1990s. The primary cause of this catastrophic decline and an ongoing threat is the ingestion by vultures of livestock carcasses containing non-steroidal anti-inflammatory drugs (NS

Published 13 Jun, 2018 12:00am

JI leader calls for strict adherence to Quranic teachings

JI leader calls for strict adherence to Quranic teachings

Deputy Chief of the Jamaat-e-Islami, Hafiz Muhammad Idrees, has said that glory of the Muslims lays in strict adherence to the teachings of the Holy Quran. Addressing the ceremony marking the completion of the Holy Quran in the Taraweeh at the Mansoora mo

Published 13 Jun, 2018 12:00am

Driving licence centre inaugurated

Driving licence centre inaugurated

Chief Traffic Officer (CTO) Lahore Rai Ijaz Ahmed inaugurated on Tuesday a driving license facilitation centre at the Lahore High Court Bar Association (LHCBA) office with an aim to help legal fraternity to get domestic and international license without a

Published 13 Jun, 2018 12:00am

Rs 1.81 billion LCWU budget approved by F&P body

Rs 1.81 billion LCWU budget approved by F&P body

The Finance and Planning Committee (F&P) of Lahore College for Women University (LCWU) approved annual budget worth Rupees 1.810 billion. F&P meeting was held as provisional vice chancellor Dr Farkhanda Manzoor in the chair. Committee also approved servic

Published 13 Jun, 2018 12:00am

Facebook launches campaign to donate blood

Facebook launches campaign to donate blood

In support of World Blood Donor Day on June 14, Facebook is going to launch 'Blood Donations on Facebook', a new center where people in Pakistan, Bangladesh, Brazil, and India can find opportunities to donate nearby.

Published 13 Jun, 2018 12:00am

LCCI women team calls on minister

LCCI women team calls on minister

The first meeting of caretaker Punjab Industries, Commerce and Trade (IC&T) Minister Mian Anjum Nisar was held at here on Tuesday with the delegation of Women of LCCI. The delegation included president of LCCI for Women Falahat Imran, Founder president Do

Published 13 Jun, 2018 12:00am

Renault vehicles: Al-Futtaim Automotive to set up new plant in Faisalabad

Renault vehicles: Al-Futtaim Automotive to set up new plant in Faisalabad

Al-Futtaim Automotive International has announced the acquisition of an industrial plot for setting up a brand new automotive plant for the exclusive manufacture/assembly of Renault vehicles in Pakistan.

Published 13 Jun, 2018 12:00am

PM calls for managing water resources efficiently

PM calls for managing water resources efficiently

Caretaker Prime Minister former Justice Nasir-ul-Mulk chaired a briefing on water resources at Prime Minister's Office on Tuesday. Minister for Water Resources Barrister Ali Zafar, Secretary to Prime Minister Suhail Aamir, Secretary Water Resources Shamai

Published 13 Jun, 2018 12:00am

ECP urges government to replace provincial chief secretaries, police heads

ECP urges government to replace provincial chief secretaries, police heads

The Election Commission of Pakistan (ECP) Tuesday directed the federal government to replace the chief secretaries and police chiefs of all provinces with immediate effect. The Commission issued directives to Establishment Division for appointing new chie

Published 13 Jun, 2018 12:00am

Foreign exchange reserves decline to a dangerous level: Umer

Foreign exchange reserves decline to a dangerous level: Umer

Pakistan Tehreek-e-Insaf (PTI) leader Asad Umer has said that foreign exchange reserves have declined to a dangerous level and the caretaker government will have to formulate a comprehensive economic policy for the next government.

Published 13 Jun, 2018 12:00am

Courts are lenient towards Sharif family, says Aitzaz

Courts are lenient towards Sharif family, says Aitzaz

Prominent jurist and former president Supreme court bar association Aitzaz Ahsan has stated that Pakistani courts have been very lenient towards Nawaz Sharif family and giving them undue latitude while hearing their corruption cases as compared to other a

Published 13 Jun, 2018 12:00am

Motorway Police launch enforcement campaign

Motorway Police launch enforcement campaign

In order to control overcharging and overloading by the transporters on the eve of Eid-ul-Fitar, the Motorway Police, Central Zone, has launched an enforcement campaign. This was stated by DIG Ahmad Arslan Malik while reviewing the ongoing campaign of ove

Published 13 Jun, 2018 12:00am

Senate body approves 'The West Pakistan Juvenile Smoking (Repeal) Bill'

Senate body approves 'The West Pakistan Juvenile Smoking (Repeal) Bill'

The Senate Standing Committee on National Health Services, Regulation and Coordination on Tuesday approved "The West Pakistan Juvenile Smoking (Repeal) Bill." The committee met here on Tuesday with Senator Sheikh Mian Ateeq Ahmad in the chair to discuss f

Published 13 Jun, 2018 12:00am

Affairs of SU's six additional campuses reviewed

Affairs of SU's six additional campuses reviewed

A high-profile meeting was convened at SU Vice Chancellor's office to review overall state of affairs at all 6 additional campuses of the varsity. The meeting was presided over by VC SU Dr Fateh Muhammad Burfat. At the outset, each pro vice chancellor and

Published 13 Jun, 2018 12:00am

SUN-Civil Society Alliance: PPAF elected as Chair, Executive Council member for two years

SUN-Civil Society Alliance: PPAF elected as Chair, Executive Council member for two years

Pakistan Poverty Alleviation Fund (PPAF) has been elected as Chair and an Executive Council member for the next two years by the Executive Council Member Organizations of SUN-Civil Society Alliance. The first Executive Council meeting was hosted and chair

Published 13 Jun, 2018 12:00am

ITA raises safety awareness

ITA raises safety awareness

The Industrial Truck Association (ITA) held its fifth annual National Forklift Safety Day on Tuesday. The event serves as an opportunity for forklift manufacturers to highlight the safe use of forklifts, the value of operator training, and the need for da

Published 13 Jun, 2018 12:00am

Imran's NA-243 papers challenged

Imran's NA-243 papers challenged

Pakistan Tehreek-e-Insaf Chairman Imran Khan's nomination papers to contest from NA-243 constituency in the metropolis, has been challenged with the relevant Returning Officer (RO) citing the Sita White case. Also, the scrutiny process of the cricketer-tu

Published 13 Jun, 2018 12:00am

PTEA hails surge in exports in 11 months

PTEA hails surge in exports in 11 months

Pakistan Textile Exporters Association (PTEA) has hailed the upsurge in country's exports of 15.28 per cent year-on-year to US$ 21.34 billion in first eleven months of current fiscal. Although gradual improvements are taking place but huge trade deficit o

Published 13 Jun, 2018 12:00am

SWC calls for action against dumping of garbage at public places

SWC calls for action against dumping of garbage at public places

Sindh Water Commission (SWC) on Tuesday directed to chalk out a strategy for taking action against those found involved in throwing garbage at public places in the city and ordered Karachi Mayor to issue notices to concerned authorities, in this regard.

Published 13 Jun, 2018 12:00am

PPP leaders' Aqama case: SHC seeks details from ECP & others by July 25

PPP leaders' Aqama case: SHC seeks details from ECP & others by July 25

The Sindh High Court (SHC) has sought detailed replies from Election Commission of Pakistan (ECP) and others in Aqama holding case of Pakistan Peoples Party (PPP)'s central leader Faryal Talpur and former provincial ministers of Sindh and directed them to

Published 13 Jun, 2018 12:00am

Three accused involved in robbery arrested

Three accused involved in robbery arrested

Clifton Police along with Clifton Investigation team have arrested three accused who were involved in robbery from the family of the Ex-Chief Secretary Kanwar Idrees on May 22, 2018. According to police, the robbery had taken place when the family had rea

Published 13 Jun, 2018 12:00am

FPCCI SVP opposes hike in POL prices

FPCCI SVP opposes hike in POL prices

Senior vice president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Syed Mazhar Ali Nasir has said that the exorbitant increase in petroleum products prices will further spur inflation, increase the cost of transportation of raw mate

Published 13 Jun, 2018 12:00am

Sindh health minister visits Dr Ruth Pfau CHK

Sindh health minister visits Dr Ruth Pfau CHK

Caretaker Sindh Minister for Health, Dr Saadia Rizvi on Tuesday paid surprise visit of Dr Ruth Pfau Civil Hospital Karachi and expressed her satisfaction and pleasure over the overall condition of hospital including attendance of staff, cleanliness and de

Published 13 Jun, 2018 12:00am

Swat administration chalks out plan to facilitate tourists

Swat administration chalks out plan to facilitate tourists

The Swat district administration has chalked out comprehensive plan to extend maximum facilities to the tourists during the forthcoming Eid-ul-Fitar.

Published 13 Jun, 2018 12:00am

PPL joins hands with NUST, Habib University

PPL joins hands with NUST, Habib University

Pakistan Petroleum Limited (PPL) partnered with two leading universities, National University of Sciences and Technology (NUST), Islamabad and Habib University (HU), Karachi to provide quality tertiary education to deserving and aspiring youth.

Published 13 Jun, 2018 12:00am

MMA announces candidates for Karachi

MMA announces candidates for Karachi

Jamaat-e-Islami (JI) overwhelms the Muttahida Majlis-e-Amal (MMMA) - a religious parties' electoral alliance - with a majority of candidates to field in the next general election in Karachi. The MMA Parliamentary Board Sindh has allotted 16 national assem

Published 13 Jun, 2018 12:00am

Ex-Secretary LU Department nabbed by NAB

Ex-Secretary LU Department nabbed by NAB

The National Accountability Bureau (NAB), Karachi Tuesday claimed to have arrested former Secretary Land Utilisation Department, Government of Sindh on the charges of illegal conversion of 70 acres of industrial land into residential/commercial land situa

Published 13 Jun, 2018 12:00am

Illegal occupation of parks, playgrounds: SC seeks reply from AG Sindh

Illegal occupation of parks, playgrounds: SC seeks reply from AG Sindh

Supreme Court (SC) on Tuesday sought the detailed reply from Advocate General Sindh in a contempt of court petition regarding removal of encroachments and occupation from parks and play grounds in the metropolis. The SC bench headed by Justice Gulzar Ahme

Published 13 Jun, 2018 12:00am

KP CM stresses need for improving healthcare system

KP CM stresses need for improving healthcare system

Caretaker Chief Minister of Khyber Pakhtunkhwa former justice Dost Muhammad has said the health sector upgrade in the province revolutionize the healthcare improvement adding that the reforms supported by incentives to the doctors and staff enhanced their

Published 13 Jun, 2018 12:00am

PBIF for building non-controversial dams

PBIF for building non-controversial dams

President of Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that uncontroversial dams should be established immediately so the current water wastage is avoided due to lack of water reservoirs in the country. "China has pro

Published 13 Jun, 2018 12:00am

World Bank working tirelessly to protect IWT

World Bank working tirelessly to protect IWT

The World Bank remains committed to act in good faith and with complete impartiality and transparency in fulfilling its responsibilities under the Indus Waters Treaty, while continuing to assist the Pakistan and India. In an update uploaded on the Bank's

Published 13 Jun, 2018 12:00am

PPDWP approves Rs 332,246 million for flood protection plan

PPDWP approves Rs 332,246 million for flood protection plan

The Provincial Development Working Party approved Rs 332,246.00 million for Implementation of National Flood Protection Plan-IV (NFPP-IV) (Umbrella PC-1 here on Tuesday. The plan envisages (a) Construction of flood protection facilities and maintenance of

Published 13 Jun, 2018 12:00am

PML-N to contest polls come what may: Hashmi

PML-N to contest polls come what may: Hashmi

Senior politician Javed Hashmi said on Tuesday that the PML-N would contest elections come what may. He was talking to media outside the Supreme Court registry after attending the proceedings of Asghar Khan case. According to him, he was interrogated by t

Published 13 Jun, 2018 12:00am

Bilawal vows to transform Karachi into 'city of opportunities'

Bilawal vows to transform Karachi into 'city of opportunities'

Pakistan Peoples Party chairman Bilawal Bhutto-Zardari chaired a meeting of the party leaders from Karachi division to discuss election strategy at the Bilawal House, here on Tuesday. Leader of the Opposition in the Senate Sherry Rehman, Rashid Rabbani, W

Published 13 Jun, 2018 12:00am

11-member interim Balochistan cabinet takes oath

11-member interim Balochistan cabinet takes oath

An 11-member interim Balochistan cabinet took oath on Tuesday afternoon. Governor Muhammad Achakzai administered the oath at a ceremony held at the Governor House. Malik Inayat, Nasarullah Khiljee, and Farzana Baloch were sworn in. The interim Cabinet als

Published 13 Jun, 2018 12:00am

Supreme Court for medical checkup of prisoners

Supreme Court for medical checkup of prisoners

The Supreme Court proceedings with a suo motu notice taken about terminally ill prisoners has directed all the provincial jail authorities for medical examination of the ill-prisoners through their boards, and release them if they are found terminally ill

Published 13 Jun, 2018 12:00am

IBI assets share soars to 13.5 percent by March-end

IBI assets share soars to 13.5 percent by March-end

The market share of Islamic banking assets in the overall banking industry rose to 13.5 percent by March-end 2018. According to State Bank of Pakistan's Islamic Banking Bulletin for January-March 2018, assets of Islamic banking industry increased by 2.8 p

Published 13 Jun, 2018 12:00am

IBI assets share soars to 13.5 percent by March-end

IBI assets share soars to 13.5 percent by March-end

The market share of Islamic banking assets in the overall banking industry rose to 13.5 percent by March-end 2018. According to State Bank of Pakistan's Islamic Banking Bulletin for January-March 2018, assets of Islamic banking industry increased by 2.8 p

Published 13 Jun, 2018 12:00am

Science & Technology, attached departments.: Senate panel recommends four percent increase in budget

Science & Technology, attached departments.: Senate panel recommends four percent increase in budget

Expressing serious concern over the alarmingly low percentage of 0.00025 of GDP being spent on science and technology and its attached departments, a Senate panel has recommended increase in the annual budget to 4 percent of the GDP.

Published 13 Jun, 2018 12:00am

Partly Facetious: Haris doing a Wile E Coyote?

Partly Facetious: Haris doing a Wile E Coyote?

"What do you reckon? Was it indicative of rats leaving a sinking ship or was it part of a strategy to delay the trial."

Published 13 Jun, 2018 12:00am

Hearing of Nawaz's petition adjourned

Hearing of Nawaz's petition adjourned

A two-judge bench of Islamabad High Court (IHC) on Tuesday deferred hearing in a petition moved by former Prime Minister Nawaz Sharif, seeking directions for Accountability Court (AC) to announce its verdict simultaneously in the three corruption referenc

Published 13 Jun, 2018 12:00am

Transporters fleecing commuters ahead of Eid

Transporters fleecing commuters ahead of Eid

Following the caretaker government's decision to increase the petroleum prices on Tuesday, the transporters community has increased fares by 10 percent on the occasion of Eid-ul-Fitr. This time monthly increase in oil prices has been made at a time when E

Published 13 Jun, 2018 12:00am

KP chapter irked: Nomination of favourites on women's reserved seats creates intra-PTI tussle

KP chapter irked: Nomination of favourites on women's reserved seats creates intra-PTI tussle

Pakistan Tehreek-e-Insaf's bigwigs have come under severe criticism on the nomination of favourites from Khyber Pakhtunkhwa for both National and Provincial Assemblies' reserved seats as most of them are either related to former chief minister Pervez Khat

Published 13 Jun, 2018 12:00am

Sharif family: Matter of placing names on ECL under study

Sharif family: Matter of placing names on ECL under study

The matter of placing the names of five members of Sharif family, including former Prime Minister Nawaz Sharif, on the Exit Control List (ECL) is under consideration of three-member committee of the Ministry of Interior.

Published 13 Jun, 2018 12:00am

Verdict in Sheikh Rashid's disqualification case today

Verdict in Sheikh Rashid's disqualification case today

Political career of President Awami Muslim League (AML) Sheikh Rashid Ahmed hangs in balance as the Supreme Court is set to announce its verdict in his disqualification case today (Wednesday), which the court had reserved after completing the hearing on M

Published 13 Jun, 2018 12:00am

AGP urges SC to dismiss Musharraf's plea against Disqualification

AGP urges SC to dismiss Musharraf's plea against Disqualification

The Attorney General for Pakistan has urged the Supreme Court to dismiss Musharraf's appeal against his disqualification by Peshawar High Court, as it is non-maintainable and without merit. In his statement submitted to the Supreme Court, AGP Ashtar Ausaf

Published 13 Jun, 2018 12:00am

PPPA Act envisages setting up of an authority

PPPA Act envisages setting up of an authority

The Abbasi-led government had decided to establish Public Private Partnership Authority (PPPA) which would assess fiscal stakes, identify, develop and procure projects, well informed sources told Business Recorder.

Published 13 Jun, 2018 12:00am

NAB chief reiterates to wipe out menace of corruption

NAB chief reiterates to wipe out menace of corruption

Former Justice Javed Iqbal, Chairman NAB, said that the NAB is committed to rooting out corruption in all its forms and manifestation by using all its resources with absolute professionalism, transparency, merit and as per law across the board. He said th

Published 13 Jun, 2018 12:00am

Timely elections: ECP, caretakers and CoAS on the same page: Iftikhar

Timely elections: ECP, caretakers and CoAS on the same page: Iftikhar

ANP general secretary Mian Iftikhar Hussain has said forces interested to postpone elections cannot succeed as the Election Commission of Pakistan (ECP), caretaker government and the Chief of Army Staff (CoAS) had hinted at timely elections.

Published 13 Jun, 2018 12:00am

PKLI's forensic audit: Commission told to submit complete report

PKLI's forensic audit: Commission told to submit complete report

A commission appointed by the Supreme Court to hold forensic audit of Pakistan Kidney & Liver Transplant Institute (PKLI) told the court that the actual approved contract of PKLI was Rs 13 billion and it was increased to Rs 19.05 billion. The chief justic

Published 13 Jun, 2018 12:00am

Sliding down of PKR adds around Rs 400 billion to foreign debt: FPCCI

Currency

Sliding down of PKR adds around Rs 400 billion to foreign debt: FPCCI

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that a record reduction of Rs 4.40 in the value of local currency versus US dollar has added almost Rs 400 billion to foreign debt and it has also exposed the tall claims of for

Published 13 Jun, 2018 12:00am

Foreign exchange reserves

Foreign exchange reserves

That the economic situation is profound is a fact that has found its best expression from what noted economist Dr Hafiz A Pasha has pointed out in his yesterday's op-ed for Business Recorder: "There was huge fall in foreign exchange reserves in the month

Published 13 Jun, 2018 12:00am

Myths and myth makers

Myths and myth makers

Human society revolves around myths. Myths are essential to keep a society enthralled, obsessed, committed and controlled. Myth makers have been important elements of any society. Kings, emperors, dictators, sultans, pashas, presidents and corporations al

Published 13 Jun, 2018 12:00am

New technologies and global trade

Currency

New technologies and global trade

Pakistan has remained an import-intensive country all these years seriously lacking, at the same time, in exportable surpluses, especially in the value-added variety.

Published 13 Jun, 2018 12:00am

Aggravating economic challenges

Aggravating economic challenges

For a moment, a glimmer of hope animated, when the caretaker Finance Minister reportedly asked Ministry officials to open a dialogue with the IMF. However, it was firmly put down when a number of politically powerful voices pointed that any such initiativ

Published 13 Jun, 2018 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Oct 25	277.66
USD PKR Interbank Buying / Oct 25	277.46
USD to Japanese Yen / Oct 25	151.97
USD to Swiss Franc / Oct 25	0.87
Pound Sterling to USD / Oct 25	1.30
Euro to USD / Oct 25	1.08

Stock	Volume
S&P 500 / Oct 24	5,809.86
Nasdaq / Oct 24	18,415.49
Dow Jones / Oct 24	42,374.36
India Sensex / Oct 25	79,759.04
Tokyo Nikkei / Oct 25	37,913.92
Hang Seng / Oct 25	20,590.15
FTSE 100 / Oct 25	8,258.52
Germany DAX 30 / Oct 25	19,428.65

Item	Value
Karachi Cotton PKR/37.32 KG / Oct 24	18,085
Crude Oil USD/Barrel / Oct 25	70.27
Gold 10 Grams PKR / Oct 25	242,027
Gold Spot USD/Ounce / Oct 25	2,718.75
Cotton US¢/pound / Oct 25	71.28
Petrol/Litre / Oct 26	247.03

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Oct 26 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Oct 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Oct 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 26 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Oct 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Oct 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Oct 26 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Oct 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Oct 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Oct 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Oct 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Oct 26 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Oct 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Oct 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Oct 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Oct 26 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Oct 26 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Oct 26 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Oct 26 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Oct 26 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Oct 26 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Oct 26 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Oct 26 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Oct 26 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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IPPs: a slippery situation?

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Karachi to Sukkur via Hyderabad: Centre, Sindh agree to construct M6 Motorway

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PSDP 2024-25: Ministries’ Rs2.9trn request pruned to Rs1.1trn

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KSE-100 closes shy of record 90,000 mark, continues winning streak amid strong buying

KSE-100 closes shy of record 90,000 mark, continues winning streak amid strong buying

UAE visa rejections, hosting GITEX in Pakistan: ambassador Faisal Tirmizi breaks it down

UAE visa rejections, hosting GITEX in Pakistan: ambassador Faisal Tirmizi breaks it down

Incidence of GST to go down: Minimum value of 4 steel goods drastically cut

Incidence of GST to go down: Minimum value of 4 steel goods drastically cut

Rupee gains against US dollar

Rupee gains against US dollar

Guddu Thermal Power Plant: CPGCL urges SBP to grant LC approval in favour of GE

Guddu Thermal Power Plant: CPGCL urges SBP to grant LC approval in favour of GE