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Print - 2018-09-06
Opel to offload 2,000 jobs to French engineering firm

Opel to offload 2,000 jobs to French engineering firm

German carmaker Opel on Wednesday said it planned to shift some 2,000 jobs at its historic Ruesselsheim research and development hub to French engineering group Segula Technologies, in a bid to avoid job cuts under a major turnaround plan.
Published 06 Sep, 2018 12:00am
Ryanair pilots accept deal after summer of discontent

Ryanair pilots accept deal after summer of discontent

Pilots at Irish no-frills airline Ryanair have voted unanimously to accept an agreement to improve working conditions after a series of strikes over the summer, their trade union said Wednesday.
Published 06 Sep, 2018 12:00am
Norway builds world's tallest timber tower

Norway builds world's tallest timber tower

Norway has completed the frame of the world's tallest timber building, which is being lauded for being environmentally friendly and fire resistant. The Mjos Tower, which is situated near and named after a lake located about 100 kilometres (60 miles) north
Published 06 Sep, 2018 12:00am
US trade deficit surges to five-month high as exports fall

US trade deficit surges to five-month high as exports fall

The US trade deficit rose to a five-month high in July, with the politically sensitive gap with China hitting a record high, which economists said could embolden the Trump administration to aggressively pursue its "America First" agenda.
Published 06 Sep, 2018 12:00am
Emirates jet lands in New York with 10 ill passengers

Emirates jet lands in New York with 10 ill passengers

Emirates announced on Wednesday that 10 passengers were taken ill on a 14-hour flight from Dubai to New York, where US health authorities met the aircraft and ambulances ferried sick people to hospital.
Published 06 Sep, 2018 12:00am
UK, French fishermen strike deal in 'Scallop Wars'

UK, French fishermen strike deal in 'Scallop Wars'

British and French fishermen reached an agreement on Wednesday in the so-called Scallop Wars over fishing in the Channel, following clashes at sea between rival boats.
Published 06 Sep, 2018 12:00am
UK seeks two Russian spies over nerve agent attack

UK seeks two Russian spies over nerve agent attack

Prime Minister Theresa May said Wednesday that two Russian spies carried out a nerve agent attack on a former colleague on British soil, as prosecutors issued a warrant for the suspects' arrest. Prosecutors announced charges against Alexander Petrov and R
Published 06 Sep, 2018 12:00am
'Flickering signal of hope' for Yemen despite talks delay

'Flickering signal of hope' for Yemen despite talks delay

Planned talks in Geneva this week between Yemen's warring parties offer a "flickering signal of hope" after years of conflict, the UN mediator said Wednesday, despite signs of delay and low expectations. The talks will be the first public meetings between
Published 06 Sep, 2018 12:00am
Mali's GSIM added to US 'foreign terrorist' list

Mali's GSIM added to US 'foreign terrorist' list

The United States on Wednesday added the Group to Support Islam and Muslims (GSIM), a fusion of three Malian jihadist groups allied to Al-Qaeda, to its list of "foreign terrorist organizations." The move is aimed at denying GSIM the "resources to plan and
Published 06 Sep, 2018 12:00am
Israeli court okays demolition of West Bank village

Israeli court okays demolition of West Bank village

Israel's top court on Wednesday upheld an order to raze a Palestinian Bedouin village in the occupied West Bank, clearing the way for the demolition to go ahead despite international pressure.
Published 06 Sep, 2018 12:00am
Iran slams Trump over UN Security Council plans

Iran slams Trump over UN Security Council plans

Iran's foreign minister on Wednesday accused US President Donald Trump of trying to hijack the United Nations Security Council for the purposes of "bullying others" to turn against Tehran.
Published 06 Sep, 2018 12:00am
Calls mount to avert 'massacre' in Syria's Idlib

Calls mount to avert 'massacre' in Syria's Idlib

International calls mounted Wednesday to avoid a "massacre" by regime forces in Syria's last rebel-held province of Idlib, two days before a summit between key powers backing the government and opposition. Troops have been massing on the edges of the nort
Published 06 Sep, 2018 12:00am
Shanghai copper tumbles to 14-month low

Shanghai copper tumbles to 14-month low

Shanghai copper fell to its lowest level in more than a year on Wednesday, down for a fifth straight session amid simmering US-China trade tensions. Open interest in Shanghai copper, a measure of market liquidity, on Tuesday hit its highest since July 18,
Published 06 Sep, 2018 12:00am
Copper snaps five-day losing streak as dollar slips

Copper snaps five-day losing streak as dollar slips

Copper rose on Wednesday after five straight days of losses as a dollar rally paused, but gains were firmly capped by persistent fears over escalating trade tensions between the United States and top metals consumer China. A public comment period on the p
Published 06 Sep, 2018 12:00am
Tokyo rubber erases early gains

Tokyo rubber erases early gains

Benchmark Tokyo rubber futures erased early gains on Wednesday, as Shanghai futures turned lower, though a weaker yen against the dollar capped the losses. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, t
Published 06 Sep, 2018 12:00am
Raw sugar rallies to four-week high, Arabica coffee jumps
Currency

Raw sugar rallies to four-week high, Arabica coffee jumps

Raw sugar futures on ICE surged to a four-week high on Wednesday, boosted by technically-driven buying above the prior session high, while arabica coffee bounced further away from the prior session's 12-year low as the Brazilian currency firmed off recent
Published 06 Sep, 2018 12:00am
Gold drops in New York
Currency

Gold drops in New York

Gold slipped on Tuesday as concerns over an escalating trade war between the United States and China battered emerging market currencies and prompted investors to seek perceived safety in the dollar. A stronger greenback makes dollar-priced gold costlier
Published 06 Sep, 2018 12:00am
Gold moves up in Asia
Currency

Gold moves up in Asia

Gold prices edged up on Wednesday, supported by technical buying amid worries over inflation in emerging markets, but gains were curbed as the dollar rose broadly on heightened concerns about international trade conflicts. Spot gold was up 0.2 percent at
Published 06 Sep, 2018 12:00am
Gold rises in Europe
Currency

Gold rises in Europe

Gold prices rose on Wednesday from an 11-day low in the previous session as a US dollar rally faltered. Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the doll
Published 06 Sep, 2018 12:00am
US MIDDAY: wheat extends slide

US MIDDAY: wheat extends slide

Chicago Board of Trade wheat futures fell 1.2 percent on Wednesday, the third decline out of the last four sessions, as export prospects for US supplies remained dim despite crop shortfalls in key production areas of the Black Sea region, traders said.
Published 06 Sep, 2018 12:00am
US MIDDAY: gold climbs
Currency

US MIDDAY: gold climbs

Gold prices rose on Wednesday from an 11-day low as the US dollar eased from its recent rally. Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, makin
Published 06 Sep, 2018 12:00am
FPCCI demands withdrawal of increase in fuel, gas, power rates

FPCCI demands withdrawal of increase in fuel, gas, power rates

Senior Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Syed Mazhar Nasir has demanded immediate withdrawal of increase in the prices of fuel, gas and electricity. He said that repeated increase in petroleum prices in re
Published 06 Sep, 2018 12:00am
Cherat Packaging Limited

Cherat Packaging Limited

Cherat Packaging Limited (PSX: CPPL) is part of the Ghulam Faruque Group (GFG), along with Mirpurkhas Sugar Mills and Cherat Cement Company. Established in 1989, it is one of the largest manufacturers of cement sacks in the country through its dual lines
Published 06 Sep, 2018 12:00am
Cherat Packaging Limited

Cherat Packaging Limited

Cherat Packaging Limited (PSX: CPPL) is part of the Ghulam Faruque Group (GFG), along with Mirpurkhas Sugar Mills and Cherat Cement Company. Established in 1989, it is one of the largest manufacturers of cement sacks in the country through its dual lines
Published 06 Sep, 2018 12:00am
PTCL launches 6 Mbps unlimited internet package

PTCL launches 6 Mbps unlimited internet package

For customers to enjoy the experience of seamless connectivity, the PTCL launches 6 Mbps unlimited internet package, which will provide seamless streaming and unlimited downloads. The customers can now enjoy affordable 6Mbps internet connection at a month
Published 06 Sep, 2018 12:00am
ANP leader shot dead in Peshawar

ANP leader shot dead in Peshawar

Awami National Party (ANP) leader and candidate for PK-74 in July 2018 election Muhammad Ibrar Khalil was shot dead along with his nephew, when unknown armed persons targeted them in Tehkal area of Peshawar on Wednesday.
Published 06 Sep, 2018 12:00am
Clarification
Cotton

Clarification

In a recently published article, the All Pakistan Textile Mills Association (APTMA) made a number of assertions about the textile industry in general and the polyester fibre industry in particular without any strong evidence to back their claims.
Published 06 Sep, 2018 12:00am
KP cabinet abolishes provincial Ehtesab Commission

KP cabinet abolishes provincial Ehtesab Commission

Khyber Pakhtunkhwa cabinet Wednesday decided to abolish Ehtesab Commission in the province. Talking to newsmen after provincial cabinet meeting, spokesman for the government Shaukat Yousafzai said that there was no need for Ehtesab Commission.
Published 06 Sep, 2018 12:00am
KP CM orders action against corruption, kickbacks

KP CM orders action against corruption, kickbacks

Chief Minister Khyber Pakhtunkhwa Mahmood Khan has directed against corruption, discouraging all types of kickbacks, strengthening the public sector institutions, improving their capacity for efficient delivery. He was addressing a Cabinet meeting on the
Published 06 Sep, 2018 12:00am
Chinese delegation meets Asad

Chinese delegation meets Asad

A three-member delegation of the China Three Gorges South Asia investment Limited led by their President and CEO, Qin Goubin called on the Federal Minister for Finance, Revenue and Economic Affairs Asad Umar this afternoon.
Published 06 Sep, 2018 12:00am
Tax Year 2018: FBR issues draft of e-return for firms

Tax Year 2018: FBR issues draft of e-return for firms

The Federal Board of Revenue (FBR) has issued draft of the electronic return for companies for Tax Year 2018. According to an SRO 1091(I)/2018 issued here on Wednesday by the FBR, the Board has issued draft return form for comments by the stakeholders. Th
Published 06 Sep, 2018 12:00am
Defence Day: call to pay tribute to valiant sons

Defence Day: call to pay tribute to valiant sons

Speaker National Assembly Asad Qaiser has said that the Defence Day of Pakistan called upon the nation to make a pledge to renew spirit of loyalty and service to Pakistan and pay tribute to valiant sons who embraced 'Shahadat' (martyrdom) while ensuring t
Published 06 Sep, 2018 12:00am
Eighteen launches sales office in Peshawar

Eighteen launches sales office in Peshawar

Eighteen - Pakistan's most luxurious and modern, mixed use, residential project, in an aim to enhance its presence provide convenience for its investors and end-users based in the provincial capital, announced the opening of its sales office in Peshawar.
Published 06 Sep, 2018 12:00am
Orientation session for ITU's entrants held

Orientation session for ITU's entrants held

Orientation for Fall 2018 entrants in Information Technology University (ITU) Punjab was held for BS, MS and PhD programs here today. ITU's founding Vice Chancellor Dr Umar Saif informed the incoming batch that ITU never compromised on merit and this year
Published 06 Sep, 2018 12:00am
PTI offered me to join party, contest by-election from NA-247: Sattar

PTI offered me to join party, contest by-election from NA-247: Sattar

Muttahida Qaumi Movement-Pakistan (MQM-P) leader Farooq Sattar on Wednesday claimed that the ruling Pakistan Tehreek-e-Insaf (PTI) offered him to contest the upcoming bye-elections from their seat. Speaking to the media in Karachi, Sattar said, "PTI has o
Published 06 Sep, 2018 12:00am
China greets Dr Alvi

China greets Dr Alvi

China on Wednesday congratulated Dr Arif Alvi on being elected as President of Pakistan. "We congratulate Dr. Arif Alvi on his election as new president of Pakistan," Chinese foreign ministry's spokesperson Hua Chunying said during her regular press brief
Published 06 Sep, 2018 12:00am
ACCA becomes part of government's tree plantation drive

ACCA becomes part of government's tree plantation drive

The Association of Chartered Certified Accountants (ACCA) has joined the government's effort on September 2 to plant 1.5 million trees. The ACCA pointed out in a statement that: "To minimise the impact on the environment and to save trees ACCA along with
Published 06 Sep, 2018 12:00am
Business community congratulates Alvi

Business community congratulates Alvi

Business and Industrial community have congratulated Dr. Arif Alvi on his victory in Presidential election and becoming 13th President of Islamic Republic of Pakistan. President of Korangi Association of Trade & Industry (KATI) Tariq Malik felicitated Pre
Published 06 Sep, 2018 12:00am
LHC directs DC Lahore to decide application of BSMF

LHC directs DC Lahore to decide application of BSMF

The Lahore High Court here on Wednesday disposed of a petition of Bhagat Singh Memorial Foundation and directed the deputy commissioner Lahore to decide the application foundation praying to replace the name Shadman Chowk as Bhagat Singh in accordance wit
Published 06 Sep, 2018 12:00am
KAPCO posts Rs 10.617 billion PAT

KAPCO posts Rs 10.617 billion PAT

The profit after tax of Kot Addu Power Company (KAPCO) has increased to Rs 10.617 billion in the year ended June 30, 2018 (FY18) as compared to Rs 9.447 billion earned in the corresponding period in FY2017. The company's earning per share increased to Rs
Published 06 Sep, 2018 12:00am
KAPCO posts Rs 10.617 billion PAT

KAPCO posts Rs 10.617 billion PAT

The profit after tax of Kot Addu Power Company (KAPCO) has increased to Rs 10.617 billion in the year ended June 30, 2018 (FY18) as compared to Rs 9.447 billion earned in the corresponding period in FY2017. The company's earning per share increased to Rs
Published 06 Sep, 2018 12:00am
An evening with SOS Village children

An evening with SOS Village children

Due to excessive financial pressures, upbringing of underprivileged children has become very challenging in Pakistan.
Published 06 Sep, 2018 12:00am
Minister vows to improve healthcare facilities

Minister vows to improve healthcare facilities

Minister for Health Punjab, Dr Yasmin Rashid Wednesday paid a surprise visit of Benazir Bhutto Shaheed Hospital and Holy Family Hospital and inspected the provision of various health facilities.
Published 06 Sep, 2018 12:00am
ANF launches major operation in KP

ANF launches major operation in KP

Anti-Narcotics Force has launched "Operation Nau Rooz" against street drug peddlers and narcotics dens throughout Khyber Pakhtunkhwa from 1st Sep to 10th Sep 2018, in view of the increasing trend of drug use among the youth in the country.
Published 06 Sep, 2018 12:00am
53,616 litres of adulterated milk destroyed in Punjab

53,616 litres of adulterated milk destroyed in Punjab

The Punjab Food Authority (PFA) launched a province-wide crackdown against milk adulteration and disposed of 53,616 litres of chemical and water contaminated milk on Wednesday. The PAF teams inspected 2041 milk vehicles by placing screening check on the e
Published 06 Sep, 2018 12:00am
Transparency, merit to be hallmarks of UAF: VC

Transparency, merit to be hallmarks of UAF: VC

"Transparency, upholding of merit would be a hallmark at University of Agriculture Faisalabad." This was stated by UAF Vice Chancellor Prof Dr Zafar Iqbal Randhawa while chairing the meeting of the Deans' committee here at New Syndicate Hall on Wednesday.
Published 06 Sep, 2018 12:00am
Democratic traditions: Elahi acknowledges lawyers' role

Democratic traditions: Elahi acknowledges lawyers' role

Acting Punjab Governor Chaudhry Parvez Elahi has said that lawyers' community role towards promotion of democratic traditions is quite appreciable; while for ensuring provision of justice to the common man particularly the poor segment; the lawyers will h
Published 06 Sep, 2018 12:00am
Role of SMEDA-JICA project highlighted

Role of SMEDA-JICA project highlighted

The Small and Medium Enterprises Development Authority (SMEDA) in collaboration with Japan International Cooperation Agency (JICA) has improved the production system in 50 auto factories.
Published 06 Sep, 2018 12:00am
MNCs producing quality drugs: Pharma Bureau

MNCs producing quality drugs: Pharma Bureau

Representative body of research-based multinational pharmaceutical companies in Pakistan, Pharma Bureau, has urged the new government to make quality the cynosure of pharma policies in Pakistan.
Published 06 Sep, 2018 12:00am
CM Punjab urges people to participate in tree plantation drive

CM Punjab urges people to participate in tree plantation drive

Punjab chief minister Sardar Usman Buzdar planted a sapling at chief minister's office on Wednesday under Plant for Pakistan campaign. Minister for forest Muhammad Sabtain Khan was also present on the occasion. The chief minister and forest minister praye
Published 06 Sep, 2018 12:00am
Jubilee Insurance inks partnership with Faysal Bank

Jubilee Insurance inks partnership with Faysal Bank

Jubilee General Insurance (Window Takaful Operation) has entered into a strategic partnership with Faysal Bank Limited for distribution of Takaful products to its valued clients. As a start, Jubilee General Window Takaful will be offering 'Takaful Health
Published 06 Sep, 2018 12:00am
Uncovered manholes pose grave danger to people

Uncovered manholes pose grave danger to people

Around 25,000 manholes in various city roads and streets are uncovered, posing grave danger to the citizens, motorists and especially children settled around. Citizens complained that various people have fallen into such uncovered manholes and have sustai
Published 06 Sep, 2018 12:00am
Hot, humid weather likely

Hot, humid weather likely

The country's most parts are likely to witness a hot and humid weather in the next 24 hours, the Met Office said on Wednesday. A rain-thundershower with gusty winds is expected at a few places in Malakand and Rawalpindi Divisions, Islamabad, Kashmir and G
Published 06 Sep, 2018 12:00am
SU holds health awareness event

SU holds health awareness event

As a part of celebrations in connection with Defense Day under the theme "We love Pakistan", Pakistan Study Centre, University of Sindh in collaboration with Isra University, Hyderabad and Rotary Club Hyderabad organized a health awareness event and a fre
Published 06 Sep, 2018 12:00am
Four ministers inducted into Sindh cabinet

Four ministers inducted into Sindh cabinet

Sindh Chief Minister Syed Murad Ali Shah on Wednesday inducted four more ministers in his cabinet. With the induction of four ministers the number of provincial cabinet members has reached to 12 and two advisors. The new ministers included Mukhesh Kumar C
Published 06 Sep, 2018 12:00am
Lower Balochistan, Tharparkar district: severe drought looms: MO

Lower Balochistan, Tharparkar district: severe drought looms: MO

The Met Office has warned of a severe drought in lower Balochistan and Tharparkar District in September and November, forecasting the end of monsoon weather system mid of the current month. "Summer Monsoon weather system will gradually diminish during the
Published 06 Sep, 2018 12:00am
NAB KP arrests absconder in assets case

NAB KP arrests absconder in assets case

National Accountability Bureau (NAB) Khyber Pakhtunkhwa arrested absconder Muhammad Arif in assets beyond sources of income. The accused person was involved as having assets which were not in proportion to known sources of income worth Rs101 million. The
Published 06 Sep, 2018 12:00am
Income Tax Ordinance 2001: KTBA flays insertion of section 182A

Income Tax Ordinance 2001: KTBA flays insertion of section 182A

Karachi Tax Bar Association (KTBA) has expressed resentment over the insertion of section 182A in Income Tax Ordinance 2001. According to KTBA, the section is going to inflict late filers two-fold as they would neither be included in active taxpayers list
Published 06 Sep, 2018 12:00am
Plea challenging Sindh university Act: SHC seeks reply from government

Plea challenging Sindh university Act: SHC seeks reply from government

Sindh High Court (SHC) on Wednesday sought reply from the provincial government against a petition, challenging Sindh Universities (Amendment) Act 2018 to declare it null and void. A divisional bench of SHC headed by Justice Muhammad Ali Mazhar ordered SH
Published 06 Sep, 2018 12:00am
MQM-P launches tree plantation campaign

MQM-P launches tree plantation campaign

Muttahida Qaumi Movement (MQM) Pakistan on Wednesday launched three-day "Own Karachi, Green Karachi" campaign to carry out tree plantation at a massive level. Amir Khan, Deputy Convener MQM Pakistan inaugurated the campaign of the party at Jheel Park, whi
Published 06 Sep, 2018 12:00am
Submersible pump with motor: DGCV revises customs values

Submersible pump with motor: DGCV revises customs values

Directorate General Customs Valuation (DGCV) has revised the customs values of submersible pump with motor (plastic body). According to details, submersible pump with motor (plastic body) up to 100 watt were being imported and assessed at considerably low
Published 06 Sep, 2018 12:00am
PJBF earns appreciation from Japan government

PJBF earns appreciation from Japan government

The Ministry of Foreign Affairs of Japan announced the recipients of Foreign Minister's Commendation of FY2018. Pakistan Japan Business Forum (PJBF) is among this year's foreign recipients. The Commendation Award ceremony was held by the Consul General of
Published 06 Sep, 2018 12:00am
Senate body discusses issues to get succession Certificate

Senate body discusses issues to get succession Certificate

The Senate Standing Committee on Law and Justice on Wednesday thoroughly discussed problems pertaining to getting succession certificate and sought more details on it from National Database and Registration Authority (NADRA) and other relevant departments
Published 06 Sep, 2018 12:00am
Ogra starts third-party audit of LPG sector

Ogra starts third-party audit of LPG sector

The Oil and Gas Regulatory Authority (OGRA) has initiated the process of third party audit of LPG sector in order to determine actual prices of LPG cylinders. The Ministry of Petroleum has directed OGRA to conduct third party audit both for the production
Published 06 Sep, 2018 12:00am
Senate body recommends DRAP to present overall drug pricing policy

Senate body recommends DRAP to present overall drug pricing policy

The Senate Standing Committee on National Health Services, Regulations and Coordination on Wednesday unanimously recommended to the Drug Regulatory Authority of Pakistan (DRAP) to present an overall drug pricing policy along with a complete list of medica
Published 06 Sep, 2018 12:00am
Mobile phone importer meets tax authorities

Mobile phone importer meets tax authorities

A leading mobile phone importer met tax authorities here on Wednesday to highlight various issues related to assessment of cellular phones as well as customs duty at the import stage. Sources told Business Recorder here on Wednesday that the top im
Published 06 Sep, 2018 12:00am
Sharjeel's DNA test: jail administration to submit written request soon

Sharjeel's DNA test: jail administration to submit written request soon

Jail administration on Wednesday decided to request an investigative team probing Pakistan Peoples Party (PPP) leader Sharjeel Inam Memon's case to conduct his DNA test. According to sources, Karachi Central Jail administration has made a verbal request t
Published 06 Sep, 2018 12:00am
Senator Rabbani smokes cigar during meeting

Senator Rabbani smokes cigar during meeting

Senator Raza Rabbani, a stalwart of Pakistan Peoples Party (PPP), was caught smoking a cigar during a meeting of Senate standing committee, without paying any heed to the official decorum. Rabbani, who had also served as chairman Senate, smoked cigar with
Published 06 Sep, 2018 12:00am
Minister vows to treat health sector as top priority

Minister vows to treat health sector as top priority

Provincial Minister for Health and Population Welfare, Dr. Azra Fazal Pechuo has suggested building apartments for residential purposes instead of bungalows/ houses for medical staff in order to save money and space as well. She said that health sector is
Published 06 Sep, 2018 12:00am
PTI Senator unveils governance vision

PTI Senator unveils governance vision

Pakistan Tehreek-e-Insaf Senator Faisal Javed on Wednesday said that Pakistan is marked at 147th number in Human Development Index out of 188 countries, which is based on life expectancy, education and decent living style.
Published 06 Sep, 2018 12:00am
Indian diplomat summoned over ceasefire violations

Indian diplomat summoned over ceasefire violations

Pakistan on Wednesday summoned top Indian diplomat and lodged with him a strong protest over the unprovoked ceasefire violations in Kot Kotera Sector along the Line of Control (LoC) that resulted in loss of a civilian life.
Published 06 Sep, 2018 12:00am
Economic crisis: PPP criticises government for 'indecisiveness'

Economic crisis: PPP criticises government for 'indecisiveness'

Pakistan Peoples Party does not want the Parliament to endorse the decision of Pakistan Tehreek-e-Insaf (PTI) government to approach the International Monetary Fund (IMF) for a bailout package due to widening current account deficit, which has already cre
Published 06 Sep, 2018 12:00am
Circular debt

Circular debt

This is apropos a letter by Naqi Zafar carried by Business Recorder on September 1 on circular debt. Yes, this is a very serious issue to be addressed to by the new government. It used to be Rs 1 billion per day a few years ago. Then it rose to Rs
Published 06 Sep, 2018 12:00am
Saudi wealth fund bets big to remake oil-based economy

Saudi wealth fund bets big to remake oil-based economy

With the stock market listing of its national oil company stalled, Saudi Arabia is scrambling to boost the coffers of the sovereign wealth fund spearheading a risky plan to diversify its economy.
Published 06 Sep, 2018 12:00am
Malaysian island city in trouble as PM targets China-linked projects

Malaysian island city in trouble as PM targets China-linked projects

An ambitious $100 billion island city being built off Malaysia has found itself in troubled waters as the new government takes aim at the development, the latest in a series of China-linked megaprojects started under the scandal-plagued ex-premier to come
Published 06 Sep, 2018 12:00am
One percent versus ninety-nine

One percent versus ninety-nine

What was Jinnah's Pakistan? Constitutionalism (never mind if it was the India Act of 1935), rule of law, good governance, highest standards of probity, and a tolerant society (where mandir, masjid, and girja could co-exist) were the defining elements. The
Published 06 Sep, 2018 12:00am
Imran Khan's austerity drive

Imran Khan's austerity drive

Prime Minister Imran Khan enunciated even before taking oath of office his vision of austerity. This has translated since into moving into the relatively modest military secretary's three-bedroom residence with just two servants in attendance instead of t
Published 06 Sep, 2018 12:00am
CPEC: A blessing or a bane

CPEC: A blessing or a bane

Chinese massive and expanding "Belt and Road" project, once hailed as a great initiative for the benefit of countries concerned, is running into speed bumps as some countries have started grumbling about being buried under Chinese debt. The project was fi
Published 06 Sep, 2018 12:00am
Urea prices likely to rise by Rs 80 per bag

Urea prices likely to rise by Rs 80 per bag

The fertilizer industry is likely to increase urea prices by Rs 80 per bag due to a raise in gas prices approved by a high level meeting presided over by Prime Minister, Imran Khan, well informed sources told Business Recorder.
Published 06 Sep, 2018 12:00am
Some Rs 4 billion through PIB auction borrowed

Some Rs 4 billion through PIB auction borrowed

The federal government Wednesday borrowed some Rs 4 billion through auction of Pakistan Investment Bond (Fixed Rate). Auction of Pakistan Investment Bond (PIB) was held on September 5, 2018 for sale of 3-, 5-, 10- and 20-year maturity. Overall SBP receive
Published 06 Sep, 2018 12:00am
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