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Print - 2018-10-04
PFC team to explore new market in UK

PFC team to explore new market in UK

A delegation of Pakistan Furniture Council (PFC) left for UK on Wednesday on a five-day tour to explore new markets and build connections with the British business community in furniture industry. The delegation, headed by PFC chief executive Mian Kashif
Published 04 Oct, 2018 12:00am
UN court to mull case of Kulbushan

UN court to mull case of Kulbushan

The UN's top court said Wednesday it will hear arguments next year on the fate of an Indian national sentenced to death in Pakistan for spying. Kulbushan Sudhir Jadhav was arrested in Balochistan in March 2016. New Delhi dragged Islamabad to the Internati
Published 04 Oct, 2018 12:00am
UN court to mull case of Kulbushan

UN court to mull case of Kulbushan

The UN's top court said Wednesday it will hear arguments next year on the fate of an Indian national sentenced to death in Pakistan for spying. Kulbushan Sudhir Jadhav was arrested in Balochistan in March 2016. New Delhi dragged Islamabad to the Internati
Published 04 Oct, 2018 12:00am
ASCL was limited company, IO tells court

ASCL was limited company, IO tells court

A prosecution witness on Wednesday told the Accountability Court hearing corruption cases against former Prime Minister Nawaz Sharif and his sons that Al-Azizia Steel Mills Company Limited (ASCL) was a limited company.
Published 04 Oct, 2018 12:00am
ASCL was limited company, IO tells court

ASCL was limited company, IO tells court

A prosecution witness on Wednesday told the Accountability Court hearing corruption cases against former Prime Minister Nawaz Sharif and his sons that Al-Azizia Steel Mills Company Limited (ASCL) was a limited company.
Published 04 Oct, 2018 12:00am
NYT says Trump helped parents shield millions from taxes

NYT says Trump helped parents shield millions from taxes

US President Donald Trump engaged in tax schemes that included cases of fraud in which he and his siblings helped their parents dodge millions of dollars in taxes, the New York Times reported on Tuesday. The Times investigation, which the White House said
Published 04 Oct, 2018 12:00am
NYT says Trump helped parents shield millions from taxes

NYT says Trump helped parents shield millions from taxes

US President Donald Trump engaged in tax schemes that included cases of fraud in which he and his siblings helped their parents dodge millions of dollars in taxes, the New York Times reported on Tuesday. The Times investigation, which the White House said
Published 04 Oct, 2018 12:00am
Justice Yasinzai appointed Balochistan governor

Justice Yasinzai appointed Balochistan governor

The federal government on Wednesday appointed former Justice Amanullah Khan Yasinzai as Balochistan Governor, a spokesman for the PM's office confirmed. President Arif Alvi signed the summary of Yasinzai's appointment on the advice of the prime minister,
Published 04 Oct, 2018 12:00am
Justice Yasinzai appointed Balochistan governor

Justice Yasinzai appointed Balochistan governor

The federal government on Wednesday appointed former Justice Amanullah Khan Yasinzai as Balochistan Governor, a spokesman for the PM's office confirmed. President Arif Alvi signed the summary of Yasinzai's appointment on the advice of the prime minister,
Published 04 Oct, 2018 12:00am
Afghan situation: US seeks Pakistan's help

Afghan situation: US seeks Pakistan's help

US Secretary of State Mike Pompeo pressed Afghanistan's Taliban to come to the table to end the long-running war as he called on Pakistan to play a supportive role, the State Department said Wednesday. Pompeo met in Washington with Pakistan's foreign mini
Published 04 Oct, 2018 12:00am
Afghan situation: US seeks Pakistan's help

Afghan situation: US seeks Pakistan's help

US Secretary of State Mike Pompeo pressed Afghanistan's Taliban to come to the table to end the long-running war as he called on Pakistan to play a supportive role, the State Department said Wednesday. Pompeo met in Washington with Pakistan's foreign mini
Published 04 Oct, 2018 12:00am
PKR under pressure amid regional currency turmoil
Currency

PKR under pressure amid regional currency turmoil

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on State Bank of Pakistan to devalue the rupee for a fifth time in a year, analysts said on Wednesday. The rupee is down 20 percent since December as dwindling foreign
Published 04 Oct, 2018 12:00am
PKR under pressure amid regional currency turmoil
Currency

PKR under pressure amid regional currency turmoil

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on State Bank of Pakistan to devalue the rupee for a fifth time in a year, analysts said on Wednesday. The rupee is down 20 percent since December as dwindling foreign
Published 04 Oct, 2018 12:00am
PKR under pressure amid regional currency turmoil
Currency

PKR under pressure amid regional currency turmoil

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on State Bank of Pakistan to devalue the rupee for a fifth time in a year, analysts said on Wednesday. The rupee is down 20 percent since December as dwindling foreign
Published 04 Oct, 2018 12:00am
US calls ruling a defeat for Iran, ends treaty

US calls ruling a defeat for Iran, ends treaty

The United States on Wednesday called an international court ruling against its Iran sanctions a defeat for Tehran as it terminated a 1955 treaty on which the case was based. The International Criminal Court ordered the United States to lift sanctions on
Published 04 Oct, 2018 12:00am
Scarcity of skilled workforce

Scarcity of skilled workforce

While the education system of Pakistan is producing unemployable youth in abundance, there is definitely a dearth of skilled workers in the country. Highlighting the issue, Javed Iqbal Chaudhry, Acting President of FPCCI, has emphasized that there is a ne
Published 04 Oct, 2018 12:00am
Regularisation of Illegalities

Regularisation of Illegalities

A three-member bench of the Supreme Court (SC) headed by Chief Justice of Pakistan (CJP) Saqib Nisar hearing a suo motu case has ordered the removal of encroachments along Korang Nullah and the regularisation of illegally constructed properties in Banigal
Published 04 Oct, 2018 12:00am
Fixing broken windows

Fixing broken windows

Imran has a problem. There is a contradiction between what he wants to do and what he can do. The dream is out of sync with reality. Looks like it will take the whole of his term to manage the dream- reality disconnect. This probably explains why PTI is s
Published 04 Oct, 2018 12:00am
Accelerating investments for sustained export growth

Accelerating investments for sustained export growth

The much-needed "incentives" by the PTI government for the exporting industry will provide impetus to the country's exports. Initiatives like subsidising electricity and gas prices for exporting industry and rationalizing import duties on raw materials in
Published 04 Oct, 2018 12:00am
'Enough lies!': Bosnian village bans politicians Rusmir

'Enough lies!': Bosnian village bans politicians Rusmir

As politicians embark on their final days of campaigning for Bosnian elections on Sunday, there is one small corner of the country where they cannot pass: Podgora, a poor hamlet fed up with the government's broken promises.
Published 04 Oct, 2018 12:00am
Iran's beleaguered currency
Currency

Iran's beleaguered currency

What more Iran could do in order to defend its currency after it intervened in forex market. Iran has authorised the central bank to intervene in the foreign exchange market in defence of the rial after the currency fell to repeated record lows in recent
Published 04 Oct, 2018 12:00am
China will be asked to include ML-II in CPEC framework: Rashid

China will be asked to include ML-II in CPEC framework: Rashid

Pakistan will ask China to include Main Line-II (ML-II) project along with the ML-I project in the China-Pakistan Economic Corridor (CPEC) framework during the upcoming visit of Prime Minister Imran Khan to China. "I will accompany PM Khan during his visi
Published 04 Oct, 2018 12:00am
Seafood export slumps to $29.536 million

Seafood export slumps to $29.536 million

Pakistan's seafood export slumped to $29.536 million in July-Aug 2018-19, down by 17 percent, which exporters linked to the two-month summer fishing ban. They said the two-month ban on fish hunt in June and July this year scaled back the seafood export bi
Published 04 Oct, 2018 12:00am
JazzCash introduces insurance for children's education

JazzCash introduces insurance for children's education

JazzCash, the country's fastest growing mobile financial services provider, has partnered with Chubb Insurance Pakistan Ltd. to come up with an innovative insurance product. The product called Child Education Plan, secures a child's education in the case
Published 04 Oct, 2018 12:00am
Ashraf Sheikh elected PAAPAM chairman

Ashraf Sheikh elected PAAPAM chairman

Muhammad Ashraf Sheikh has been elected Chairman of Pakistan Association of automotive parts and accessories manufacturers (PAAPAM) for the year 2018-9 at the 19th annual general meeting of the 350 member association. Engineer Azhar Ali has been elected S
Published 04 Oct, 2018 12:00am
Smuggled goods seized from train

Smuggled goods seized from train

Model Customs Collectorate (MCC), Preventive has seized huge quantity of assorted brands of chewing tobaccos, cigarettes and betel nuts from a rail bogie at city station, Karachi. According to details, the credible information was received which revealed
Published 04 Oct, 2018 12:00am
PM's 100-day agenda under way: minister

PM's 100-day agenda under way: minister

The government has been blamed for burdening the common man and business community during the first 100 days of its tenure by increasing electricity and gas prices.
Published 04 Oct, 2018 12:00am
New LG system to be introduced next week

New LG system to be introduced next week

The Pakistan Tehreek-e-Insaf (PTI) government has announced to introduce a new local bodies system next week for Punjab, Khyber Pakhtunkhwa including erstwhile Federally Administered Tribal Areas (FATA), Balochistan and Islamabad Capital Territory (ICT).
Published 04 Oct, 2018 12:00am
Government to evolve mechanism for speedy dispensation of justice: PM

Government to evolve mechanism for speedy dispensation of justice: PM

Prime Minister Imran Khan has stated that the government is committed to put in place a mechanism that would facilitate the citizens as well as the judiciary in speedy dispensation of justice. While chairing a briefing on Ministry of Law and Justice here
Published 04 Oct, 2018 12:00am
Pak-Qatar Takaful inks deal with Qatar Airways

Pak-Qatar Takaful inks deal with Qatar Airways

Pak-Qatar Takaful Group has signed a corporate agreement with Qatar Airways that will allow customers and employees of the group to avail exclusive discounts. The corporate agreement with Qatar Airways will also offer customers of Pak-Qatar Takaful Group
Published 04 Oct, 2018 12:00am
Defence Secretary meets Sri Lankan counterpart

Defence Secretary meets Sri Lankan counterpart

The Defence Secretary of Pakistan, Lieutenant General Ikram Ul Haq (R) met the Secretary to the Ministry of Defence Kapila Waidyaratne PC at the Defence Ministry on Wednesday. A cordial discussion was held between the two Defence Secretaries on matters of
Published 04 Oct, 2018 12:00am
Pak-US cooperation to continue for regional peace

Pak-US cooperation to continue for regional peace

Foreign Minister Shah Mehmood Qureshi and US National Security Adviser John Bolton agreed during a meeting at the White House that continued cooperation between Pakistan and the United States would be in the interest of regional peace and security in Sout
Published 04 Oct, 2018 12:00am
HBL, Qatar Airways introduce credit card
Currency

HBL, Qatar Airways introduce credit card

HBL, Pakistan's largest bank, and Qatar Airways, the world's fastest growing airline, have entered into a strategic partnership to launch a credit card tailored to serve the needs of country's swiftly growing frequent-flyer community. The HBL Qatar Airway
Published 04 Oct, 2018 12:00am
PTM-2018: Speakers for motel service to promote tourism

PTM-2018: Speakers for motel service to promote tourism

Speakers at a seminar stressed the need of establishing motel service to promote tourism in the country. These views were expressed at a seminar on 'Travel Hospitality' organized on the sidelines of Pakistan Travel Mart (PTM) 2018 at Expo Centre, Karachi.
Published 04 Oct, 2018 12:00am
SSEP to address energy crisis, environmental issues: Murad

SSEP to address energy crisis, environmental issues: Murad

Sindh Chief Minister Syed Murad Ali Shah on Wednesday said that solar home system project would serve dual purpose of mitigating energy crisis and addressing the global concerns of environmental degradation. This he said while delivering his inaugural spe
Published 04 Oct, 2018 12:00am
Shakil Ashfaq elected APSEA chairman

Shakil Ashfaq elected APSEA chairman

Shakil Ashfaq has been elected Chairman All Pakistan Solvent Extractors' Association (APSEA) for the year 2018-19.
Published 04 Oct, 2018 12:00am
Bilawal expresses disappointment over PTI's Performance

Bilawal expresses disappointment over PTI's Performance

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari on Wednesday expressed disappointment over performance of the Pakistan Tehreek-e-Insaf government, saying that there is a huge difference between leading a sit-in and the government. Speaking on
Published 04 Oct, 2018 12:00am
PAF donates Rs 100 million to dams fund

PAF donates Rs 100 million to dams fund

Air Chief Marshal Mujahid Anwar Khan Wednesday donated Rs 100 million on behalf of all ranks of PAF to Diamer Bhasha and Mohamamd Dams Fund.
Published 04 Oct, 2018 12:00am
IDEAS will help raise strategic ties with world: CM

IDEAS will help raise strategic ties with world: CM

The 10th edition of International Defence Exhibition and Seminar (IDEAS), 2018 is scheduled from November 27-30 at Expo Centre, Karachi. To finalize the preparations for this strategically important event, under the auspices of DEPO, the 3rd Steering Comm
Published 04 Oct, 2018 12:00am
ATC adjourns Mumbai attack case hearing till October 10

ATC adjourns Mumbai attack case hearing till October 10

An Anti-Terrorism Court (ATC) in Islamabad while resuming hearing of Mumbai attacks case on Wednesday has summoned the prosecution witnesses in the next hearing for conclusion of the trial expeditiously. The case is in the courts since 2009 whereas no fur
Published 04 Oct, 2018 12:00am
SUPARCO to celebrate WSW from today

SUPARCO to celebrate WSW from today

Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) has made all arrangement to celebrate World Space Week (WSW) 2018 in 16 cities of the country from October 4 to 10, 2018. The inaugural ceremony of the event will be held on October 4 at Na
Published 04 Oct, 2018 12:00am
Rabi season: Urea shortage looms as NFDC forecast negative stocks

Rabi season: Urea shortage looms as NFDC forecast negative stocks

Urea shortage is looming large during the Rabi season as National Fertilizer Development Centre (NFDC) has forecast negative urea stocks for January 2019. According to NFDC report, Rabi season 2018-19 is expected to begin with 271,000 tons of urea and tot
Published 04 Oct, 2018 12:00am
Fawad leaves Senator Mushahidullah red faced

Fawad leaves Senator Mushahidullah red faced

Information Minister Fawad Chaudhry on Wednesday left key PML-N Senator Mushahidullah Khan red-faced after the latter insisted for an apology instead of pressing the former to substantiate his claims against out-of-turn postings of his brothers on key pos
Published 04 Oct, 2018 12:00am
Installation of ETPs: SWC asks sugar mills to submit EMP, IEE reports

Installation of ETPs: SWC asks sugar mills to submit EMP, IEE reports

Sindh Water Commission (SWC) on Wednesday sought reports of Environment Management Plant (EMP) and Initial Environmental Examination (IEE) from sugar mills viz-a-viz installation and functioning of Effluent Treatment Plants (ETPs). The SWC headed by forme
Published 04 Oct, 2018 12:00am
By-elections on October 14: PML-N, PPP to field joint candidates

By-elections on October 14: PML-N, PPP to field joint candidates

Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP) have decided to give tough time to Pakistan Tehreek-e-Insaf (PTI) in coming by-elections on October 14 by fielding joint candidates, it is learnt. This decision has been made in a meeti
Published 04 Oct, 2018 12:00am
Traffic cop killed at checkpost

Traffic cop killed at checkpost

A traffic police official was killed in an attack on a police checkpost in the Port city of Sindh on Wednesday. "Sub-inspector Rafiq was on duty in Ahsanabad area of Karachi when he was shot," said Malir Senior Superintendent Police (SSP) Shiraz Nazir.
Published 04 Oct, 2018 12:00am
FPCCI for maintaining discrimination between filers & non-filers

FPCCI for maintaining discrimination between filers & non-filers

Executive Committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has passed a resolution unanimously demanded that the discrimination between filers and non-filers as removed in the Finance Supplementary (amendments) Bill 2018 b
Published 04 Oct, 2018 12:00am
Sindh Legal Advisory Call Centre launched

Sindh Legal Advisory Call Centre launched

Adviser to Chief Minister Sindh on Information, Law and Anti-Corruption barrister Murtaza Wahab visited Sindh Legal Advisory Call Centre (SLACC) on Wednesday1.
Published 04 Oct, 2018 12:00am
Easypaisa launches QR payment systems

Easypaisa launches QR payment systems

As part of its commitment towards providing youth access to quality financial services and creating a more financially inclusive Pakistan, Telenor Microfinance Bank, through its Easypaisa mobile payment and lifestyle platform, has announced its latest ini
Published 04 Oct, 2018 12:00am
Question raised before SC bench over dual nationality

Question raised before SC bench over dual nationality

A question was raised before the Supreme Court whether the disqualification of a parliamentarian under Article 63(1)(c) of the Constitution is permanent even if the lawmaker renounces his/her foreign nationality. Bilal Manto, amicus curiae, raised the que
Published 04 Oct, 2018 12:00am
LHC seeks compliance report from secretary health

LHC seeks compliance report from secretary health

The Lahore High Court on Wednesday sought a compliance report from the secretary primary and secondary health services Punjab for setting up separate rooms for the treatment of transgender community in OPDs of all public hospitals.
Published 04 Oct, 2018 12:00am
Nepra notifies Rs 1.16 raise in power tariffs for Discos

Nepra notifies Rs 1.16 raise in power tariffs for Discos

National Electric Power Regulatory Authority (Nepra) has notified Rs 1.1635 per unit increase in electricity tariffs for Discos except lifeline consumers for August 2018 under monthly Fuel Component Adjustment (FCA).
Published 04 Oct, 2018 12:00am
28th German Unity day celebrated

28th German Unity day celebrated

The 28th German Unity day was celebrated at the Consulate General of the Federal Republic of Germany in Karachi on Wednesday. A special ceremony was held at the German Consulate General that was attended by a large number of people from different walks of
Published 04 Oct, 2018 12:00am
Farooq Sattar, others indicted in LAV case

Farooq Sattar, others indicted in LAV case

Muttahida Qaumi Movement-Pakistan (MQM-P) leader Farooq Sattar and other leaders were indicted in Loudspeaker Act Violation (LAV) case. During the hearing the judicial magistrate of city court on Wednesday also indicted Karachi Mayor Waseem Akhtar, Khalid
Published 04 Oct, 2018 12:00am
PTI's Dr Shahzad bags Senate seat

PTI's Dr Shahzad bags Senate seat

Dr Shahzad Waseem of the Pakistan Tehreek-e-Insaf (PTI) has won the Senate seat vacated by Ch Sarwar. He bagged 181 votes, while his rival Khawaja Ahmed Hassan of the PML-N got 169 votes who was also supported by PPP while one vote was rejected. In the Se
Published 04 Oct, 2018 12:00am
Saarc states urged to resolve issues on regional platform

Saarc states urged to resolve issues on regional platform

SAARC Chamber of Commerce and Industry Senior Vice President Iftikhar Ali Malik on Wednesday urged the SAARC member states to resolve their all kinds of issues on this regional platform instead of seeking arbitration from global super powers.
Published 04 Oct, 2018 12:00am
Lithuania bans phone use in streets

Lithuania bans phone use in streets

Lithuania's phone-addicted pedestrians will have to do without mobile devices when they cross streets under a new regulation approved on Wednesday as the Baltic country seeks to curb traffic deaths. "Pedestrians must not use mobile devices before stepping
Published 04 Oct, 2018 12:00am
Cotton market: lower prices help mills to replenish their stock
Cotton

Cotton market: lower prices help mills to replenish their stock

Declining rates helped mills to replenish their stock, in the meantime, it is surprising to note that exporters were conspicuous by their absence, dealers said on the cotton market on Wednesday. The official spot rate maintained overnight level at Rs 7650
Published 04 Oct, 2018 12:00am
Asian naphtha hits three-session low

Asian naphtha hits three-session low

Asia's naphtha crack eased 1.8 percent on Tuesday and hit a three-session low of $107.38 a tonne, after marking their highest since Aug. 6 in the previous session, as oil prices at a four-year peak weighed on the market. South Korea's LG Chem emerged to b
Published 04 Oct, 2018 12:00am
Ninth NBP Junior Squash Championship begins

Ninth NBP Junior Squash Championship begins

The 9th edition of the National Bank National Junior Squash Championship carrying a prize money of Rs. 0.1 million got under way at PAF Hashim Khan Squash Complex under the aegis of KP Squash Association here Wednesday. NBP Regional Head of Peshawar Regio
Published 04 Oct, 2018 12:00am
Strauss steps down from England cricket director role

Strauss steps down from England cricket director role

Andrew Strauss announced on Wednesday that he is standing down as England's director of cricket following a period of compassionate leave. Strauss's wife Ruth was diagnosed with cancer during the Ashes in December 2017 and he took a break from his positio
Published 04 Oct, 2018 12:00am
Cricket Australia names pay-row negotiator as new boss

Cricket Australia names pay-row negotiator as new boss

Cricket Australia (CA) on Wednesday named insider Kevin Roberts - who spearheaded an ill-fated attempt to slash players' pay last year - to lead the troubled organisation in the wake of the ball-tampering scandal. Roberts was appointed chief executive off
Published 04 Oct, 2018 12:00am
ICC warns England, Sri Lanka players of match-fixing ahead of tour

ICC warns England, Sri Lanka players of match-fixing ahead of tour

Cricket's world governing body said Wednesday players would be briefed about the risk of approaches from "corrupters" during England's upcoming tour of Sri Lanka amid fears of match-fixing. The International Cricket Council's anti-corruption chief Alex Ma
Published 04 Oct, 2018 12:00am
2019 Cricket World Cup trophy reaches Lahore

2019 Cricket World Cup trophy reaches Lahore

The 2019 Cricket World Cup trophy reached here Wednesday as part of its world tour. The Garrard-made trophy, during its six-day Pakistan leg of the tour, will travel to three cities: Lahore, Islamabad and Karachi.
Published 04 Oct, 2018 12:00am
Euro crawls up in Asian trade
Currency

Euro crawls up in Asian trade

The euro pulled ahead from a six-week low on Wednesday after a report that Italy plans to reduce its budget deficit in the coming years provided some relief to the battered currency. The euro was up 0.35 percent at $1.1585 following its descent to $1.1505
Published 04 Oct, 2018 12:00am
Dollar strengthens against majors in Europe
Currency

Dollar strengthens against majors in Europe

The dollar strengthened against other major currencies on Wednesday after a top US policymaker said inflation expectations haven't gone up as much as he would have liked and he was comfortable with a December rate hike. Federal Reserve policymaker Charles
Published 04 Oct, 2018 12:00am
Early trade in New York: dollar gains after strong ADP jobs data

Early trade in New York: dollar gains after strong ADP jobs data

The US dollar gained on Wednesday as data supported the view that the US economy is in strong shape and as concerns about Italy's budget negotiations continued to weigh on the euro. Private employers added 230,000 jobs in September, the most since Februar
Published 04 Oct, 2018 12:00am
Euro weakens to six-week low in New York
Currency

Euro weakens to six-week low in New York

The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy's ruling parties said most of the country's problems would be resolved if it readopted a national currency. Italy's coalition proposed a budget with a higher-than-expected
Published 04 Oct, 2018 12:00am
Argentina's peso rallies

Argentina's peso rallies

Argen-tina's peso rallied for a third straight day on Wednesday, after high-interest short-term debt issued by the central bank soaked up liquidity, a strategy that has raised concern about the sustainability of the country's program.
Published 04 Oct, 2018 12:00am
Aussie, kiwi steady
Currency

Aussie, kiwi steady

The Australian and New Zealand dollars pared some losses on Wednesday as jitters over Italy's budget deficit calmed a little and prompted a pullback in safe havens such as the yen. The Aussie dollar steadied at $0.7185, having been as low as $0.7165 at on
Published 04 Oct, 2018 12:00am
Asian forex: India rupee hits record low
Currency

Asian forex: India rupee hits record low

The Indian rupee opened at a record low on Wednesday and further weakening in Indonesia's embattled rupiah prompted central bank intervention as an overnight spike in oil prices weighed heavily on the currencies. The rupee and the rupiah are highly expose
Published 04 Oct, 2018 12:00am
Sterling steadies
Currency

Sterling steadies

The British pound briefly fell towards a three-week low on Wednesday as Prime Minister Theresa May defended her plans for Brexit, although the currency's moves were limited as analysts said they saw little in her speech that was new. May said she was conf
Published 04 Oct, 2018 12:00am
Most Gulf markets up, Egypt slips on emerging market slump

Most Gulf markets up, Egypt slips on emerging market slump

Most major Middle Eastern stock markets rose modestly on Wednesday, while real estate stocks continued to weigh on Dubai and Egypt's blue-chip index reflected emerging market worries. The Dubai index closed 0.8 percent lower, pressured by real estate and
Published 04 Oct, 2018 12:00am
Southeast Asian stocks: Philippines, Singapore recover

Southeast Asian stocks: Philippines, Singapore recover

The Philippine index snapped a three-day losing streak on Wednesday and ended more than 1 percent higher as investors picked up battered shares while Singapore hit a near eight-week closing high, helped by gains in financials and consumer stocks. The Mani
Published 04 Oct, 2018 12:00am
Yield curve flatter, Fed lifts short
Currency

Yield curve flatter, Fed lifts short

The yield curve flattened on Tuesday as a hawkish afternoon speech from Federal Reserve Chair Jerome Powell lifted the short end of the curve while the long end remained muted as investors sought safety from the Italian bond selloff.
Published 04 Oct, 2018 12:00am
Yield curve flatter, Fed lifts short
Currency

Yield curve flatter, Fed lifts short

The yield curve flattened on Tuesday as a hawkish afternoon speech from Federal Reserve Chair Jerome Powell lifted the short end of the curve while the long end remained muted as investors sought safety from the Italian bond selloff.
Published 04 Oct, 2018 12:00am
Indian shares down

Indian shares down

Indian shares ended lower on Wednesday, dragged by financials and IT stocks, as sentiment was dented after crude prices hovered near a four-year high, while investors kept a cautious stance ahead of the central bank policy meet this week. The benchmark BS
Published 04 Oct, 2018 12:00am
Australian shares up; New Zealand falls

Australian shares up; New Zealand falls

Australian shares got a lift from strong gains in resource-related stocks on Wednesday, helped by higher gold and metal prices, while financials ended lower despite earlier gains. The S&P/ASX 200 index rose 0.3 percent to 6,146.1 at the close of trade. Th
Published 04 Oct, 2018 12:00am
Italian stocks lead Europe as budget deficit fears quelled

Italian stocks lead Europe as budget deficit fears quelled

Italian stocks turned from a drag into a boost for European markets on Wednesday as signs the government would target a lower budget deficit quelled investors' fears of a damaging showdown with the European Commission. Italy's FTSE MIB outperformed and cl
Published 04 Oct, 2018 12:00am
Nikkei falters
Currency

Nikkei falters

Japanese stocks fell on Wednesday as automakers skidded on a sharp decline in US new car sales last month while other shares, including financials, retreated after a rally over recent weeks. The Nikkei share average gave up 0.7 percent to 24,110.96, thoug
Published 04 Oct, 2018 12:00am
FTSE joins European bounce; Tesco falls

FTSE joins European bounce; Tesco falls

The UK's top share index rose on Wednesday as the pound held its ground after an appeal for party unity from Prime Minister Theresa May over her Brexit plan, while Tesco had its worst trading day in four years after a disappointing update. The FTSE 100 cl
Published 04 Oct, 2018 12:00am
Trump's net worth $3.1 billion, but presidency hurting: Forbes

Trump's net worth $3.1 billion, but presidency hurting: Forbes

US President Donald Trump's net worth has flatlined at $3.1 billion, but he has slid down a Forbes ranking of billionaires as the magazine believes his White House stint is harming the Trump brand. Trump's ranking dropped to number 259 on the list of Forb
Published 04 Oct, 2018 12:00am
Turkey's inflation rises to 25 percent

Turkey's inflation rises to 25 percent

Turkey's inflation rate rose to nearly 25 percent in September, official statistics showed Wednesday, as the economy suffers further from the Turkish lira's dramatic fall. The unexpectedly bad figures come amid continued concerns over domestic monetary po
Published 04 Oct, 2018 12:00am
EU commissioner admits crisis 'errors', chides Italy

EU commissioner admits crisis 'errors', chides Italy

European Commissioner for Economic Affairs Pierre Moscovici on Wednesday said "fundamental errors" in dealing with the financial crisis which hit a decade ago had stoked EU political tensions. "Political tensions which Europe is going through are in my vi
Published 04 Oct, 2018 12:00am
Apple chief says firm guards data privacy in China

Apple chief says firm guards data privacy in China

Apple chief executive Tim Cook on Tuesday said the company is devoted to protecting people's privacy, with data encrypted and locked away on servers even in China. Cook called privacy as one of the most important issues of this century, and maintained tha
Published 04 Oct, 2018 12:00am
US services sector activity hits 21-year high

US services sector activity hits 21-year high

US services sector activity raced to a 21-year high in September and companies boosted hiring, signs of enduring strength in the economy at the end of the third quarter. The upbeat reports on Wednesday likely keep the Federal Reserve on track to raise int
Published 04 Oct, 2018 12:00am
India to deport Rohingya to Myanmar, despite UN concern

India to deport Rohingya to Myanmar, despite UN concern

Indian police said Wednesday that seven Rohingya detained in the country's northeast will be deported to Myanmar, which has been accused by the UN of waging a campaign of "genocide" against the Muslim minority. The United Nations had warned India that ret
Published 04 Oct, 2018 12:00am
MDCAT result announced

MDCAT result announced

The University of Health Sciences (UHS) Lahore declared the official result of Medical and Dental Colleges' Admission Test (MDCAT) 2018. A total of 61900 candidates appeared in the Test held on September 23, out of which 32648 (52.74 percent) scored 60 pe
Published 04 Oct, 2018 12:00am
Nishat Chunian Limited
Mutual Funds

Nishat Chunian Limited

Nishat Chunian Limited (PSX: NCL) has come a long way from its humble origins. What started off as a spinning mill comprising of 14,400 spindles has now become the fourth-largest textile company by sales in the country. NCL is a vertically integrated unit
Published 04 Oct, 2018 12:00am
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