The rupee failed to maintain overnight gains against the dollar on the currency market on Saturday in process of trading activity, dealers said. The rupee lost 50 paisas in relation to the dollar for buying and selling at Rs 133.20 and Rs 134.20, they sai
The rupee failed to maintain overnight gains against the dollar on the currency market on Saturday in process of trading activity, dealers said. The rupee lost 50 paisas in relation to the dollar for buying and selling at Rs 133.20 and Rs 134.20, they sai
Gulf Arab economies are likely to accelerate over the next couple of years as governments boost spending, but growth will not return to the boom levels enjoyed before oil prices plunged in 2014, a quarterly Reuters poll of economists found.
J.P. Morgan Chase announced Friday that it will open a new campus for financial technology, or "fintech," in Silicon Valley in 2020, staffed by more than 1,000 workers. The New York-based financial giant, the biggest US bank by assets, will build the new
J.P. Morgan Chase announced Friday that it will open a new campus for financial technology, or "fintech," in Silicon Valley in 2020, staffed by more than 1,000 workers. The New York-based financial giant, the biggest US bank by assets, will build the new
Alphabet Inc's Google will charge hardware firms up to $40 per device to use its apps under a new licensing system to replace one that the European Union this year deemed anti-competitive, a person familiar with the matter said on Friday. The new fee goes
Scores of American lottery players were disappointed they hadn't become an overnight billionaire Saturday - but they'll get another chance to scoop the jackpot, with $1.6 billion up for grabs in a few days. The prize for Friday's Mega Millions contest had
Interior Minister Matteo Salvini on Saturday dismissed ratings agency Moody's decision to downgrade Italy's credit standing because of the government's controversial budget plans and said the country's outlook was "stable."
Interior Minister Matteo Salvini on Saturday dismissed ratings agency Moody's decision to downgrade Italy's credit standing because of the government's controversial budget plans and said the country's outlook was "stable."
Iraqi Oil Minister Jabar al-Luaibi has reversed his decision to transfer the ownership of nine state-owned oil companies from the ministry to the newly formed National Oil Company, the ministry said on Saturday. The move would enable the incoming governme
China's new home prices increased at a firm pace in September, supported by gains in smaller cities and showing the market remained resilient despite pressures from softer investment, a slowing economy and government curbs on the sector. Average new home
The Trump administration's plan to allow year-round sales of higher-grade corn ethanol would have limited impact on the depressed US ethanol market, with record supplies and prices for the fuel hovering near the lowest in a decade, analysts said. Presiden
A Shenzhen-based commodity exchange controlled by Hong Kong Exchanges and Clearing unexpectedly began spot trading on Friday, giving the HKEX much-coveted access to mainland China's market. The launch of Qianhai Mercantile Exchange (QME), located just 50
North American cocoa grindings increased for the third quarter of 2018 from a year earlier, surprising forecasters with the strongest quarterly grind since 2014, according to data from the National Confectioners Association (NCA) on Thursday. Companies in
The copper market is currently experiencing a squeeze on physical metal. This is unexpected. The London Metal Exchange (LME) price is treading water just above the $6,000 level, struggling to fend off bearish macro funds. Mine supply is doing just fine wi
Chicago Board of Trade soyabean futures fell more than 2 percent on Thursday, pressured by disappointing weekly US export sales data and improving harvest weather in the US Midwest, traders said. CBOT November soyabeans settled down 22-1/4 cents at $8.63-
Chinese rebar steel futures dropped more than 1 percent to pull back from five-week highs on Thursday as steel producers in China's top steel-making city of Tangshan boost output despite the start of its winter pollution restrictions two weeks ago.
Volume of business came down on the cotton market on Saturday as some leading mills kept on the sideline due to less buying interest, dealers said. The official spot rate was unchanged at Rs 8900, they added. Prices of seed cotton in Sindh were at Rs 3800
A key measure of inter-bank borrowing costs rose on Friday, resulting in its biggest weekly increase since March, as traders expect further interest rate hikes from the Federal Reserve due to solid US economic growth. The London interbank offered rate for
A key measure of inter-bank borrowing costs rose on Friday, resulting in its biggest weekly increase since March, as traders expect further interest rate hikes from the Federal Reserve due to solid US economic growth. The London interbank offered rate for
US fund investors dumped bonds during a market rout in the latest week, at the fastest pace since February, Investment Company Institute (ICI) data showed on Wednesday. More than $7.1 billion dropped out of US-based bond mutual funds and exchange-traded f
US fund investors dumped bonds during a market rout in the latest week, at the fastest pace since February, Investment Company Institute (ICI) data showed on Wednesday. More than $7.1 billion dropped out of US-based bond mutual funds and exchange-traded f
Foreigners turned net sellers of Japanese stocks in the week ended October 12, as concerns over rising US yields triggered a broad sell-off in equities across the world. Last week, overseas investors sold a net 1.83 trillion yen ($16.26 billion) worth of
Mexico's Grupo Financiero Mifel has postponed the initial public offering it hoped to close on Wednesday, three sources with knowledge of the deal said, the second highly anticipated listing canceled this week in a gloomy sign for the country's capital ma
Mexico's Grupo Financiero Mifel has postponed the initial public offering it hoped to close on Wednesday, three sources with knowledge of the deal said, the second highly anticipated listing canceled this week in a gloomy sign for the country's capital ma
Bearish traders' grip on global markets tightened this week with massive outflows from equities and bonds while investors reached for cash and less risky stocks, Bank of America Merrill Lynch strategists said on Friday.
Bearish traders' grip on global markets tightened this week with massive outflows from equities and bonds while investors reached for cash and less risky stocks, Bank of America Merrill Lynch strategists said on Friday.
Italy's government bond yields fell from 4-1/2 year highs and its stock market rallied on Friday after European Economic Affairs Commissioner Pierre Moscovici said he wanted to reduce tensions with Italy over the country's contentious budget plans.
Italy's government bond yields fell from 4-1/2 year highs and its stock market rallied on Friday after European Economic Affairs Commissioner Pierre Moscovici said he wanted to reduce tensions with Italy over the country's contentious budget plans.
The US benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth. Shares of Procter & Gamble jumped 8.
The Kenyan and Tanzanian shillings are expected to hold steady in the next week to Thursday, while Ghana's cedi and the Ugandan shilling are seen strengthening, traders said.
A record number of investors think emerging market currencies are undervalued, Bank of America Merrill Lynch's October fund manager survey found on Tuesday. Crumbling under pressure from the strong dollar, along with crises in Turkey and Argentina, develo
The Canadian dollar weakened to its lowest in more than five weeks against the greenback on Friday after domestic data showing a slowdown in inflation suggested the Bank of Canada would be unlikely to speed up the pace of interest rate hikes.
Short positions on most Asian currencies were seen unwinding over the past two weeks, a Reuters poll showed on Thursday, with traders turning sceptical of the dollar's bull run after US retail sales data came in below expectations.
Speculators' net long bets on the US dollar shrank in the latest week, to be slightly down from a 22-month high hit in the prior period, according to calculations by Reuters and the Commodity Futures Trading Commission released on Friday.
The euro and British pound rallied against the US dollar on Friday after Bloomberg News reported that British Prime Minister Theresa May is ready to drop a key Brexit demand in order to make a deal for Britain to leave the European Union (EU).
The 3rd Pak Water & Energy Expo 2018, the largest and most extensive global water trade event showcasing in Pakistan is being held on October 24-25, 2018 here at Lahore Expo Centre. The purpose of organizing Pak Water Expo is not only to gather all the re
The Lahore Development Authority (LDA) continued with its anti-encroachment drive in the city on Saturday. Under the drive, LDA staff demolished a house and sealed five properties after declaring them illegal. It may be noted that the LDA had already serv
Secretary General, Jamaat e Islami, Liaqat Baloch, has stressed upon the government not to cut provinces' share in the National Financial Commission Award as it would be infringement of their rights.
The Punjab Chief Minister Sardar Usman Buzdar on Saturday said the PTI government has started working to change the rotten system and reforms are being introduced in government departments to provide relief to the people. He said this while talking to Haj
A Colombian military helicopter crashed on Saturday after conducting an operation against drug traffickers, killing all four crew members, officials announced. Defense Minister Guillermo Botero, in a Twitter message, identified the dead as Major Pedro Gra
Tens of thousands of Taiwan independence campaigners took to the streets Saturday for a major rally that is a rebuke to Beijing and a challenge to the island's already embattled government. The protest in central Taipei came as China increasingly pushes i
Russia's defence minister said on Saturday that almost 88,000 rebels had been killed in Syria in the three years since Moscow's intervention to back government forces. "Over the course of the operation, a total of more than 87,500 rebels have been elimina
The Islamic State group has released two women and four children among 27 surviving Druze hostages it seized during a deadly July attack on the minority community's heartland in southern Syria. State television broadcast footage of the six arriving in the
Tanzanian tycoon Mohammed Dewji, who was kidnapped earlier this month, said Saturday he had been released and had returned home safely. "I thank Allah that I have returned home safe and sound," Dewji told a press conference in Dar es Salaam where he was a
A European-Japanese spacecraft set off on a treacherous seven-year journey to Mercury to probe the solar system's smallest and least-explored planet. The BepiColombo mission, only the third ever to visit Mercury, blasted off from Europe's spaceport in Fre
Thousands of US-bound Honduran migrants remained stranded Saturday after spending the night on a border bridge between Guatemala and Mexico where riot police barred their progress. Honduran President Juan Orlando Hernandez said he would meet Saturday with
The Punjab government has decided to start a aggressive crackdown against power thieves across the province. On the direction of the federal minister for power "anti power theft drive" will begin in all districts of Punjab in the next week soon.
World Health Organization (WHO) has offered technical support to the Punjab health department for development of human resource for health (HRH) and an expert of international repute Dr Mario Roberto Dal Paz would be assigned task to establish HRH Observa
Prices of essential kitchen items further witnessed an increase during this week past as compared to preceding week, a survey conducted by Business Recorder revealed here on Saturday. The survey observed that during the week under review, prices of
A delegation of Pakistan Furniture Council (PFC) will participate in Khartoum International Fair 2019 in Sudan starting from January 21-28 and showcase locally made traditional furniture items to attract foreign buyers and investors.
Sarhad Chamber of Commerce and Industry (SCCI) demanded of the government to grant exemption for three years from property, professional taxes and other levies to all the traders and industrialists of Peshawar who have been affected by mega Bus Rapid Tran
The crushing season starts in November and non-crushing by Omni Group sugar mills will destroy the sugarcane farmers in Sindh, while National Bank of Pakistan (NBP) and other banks will not be able to recover advances except by selling the plants, machine
The federal capital witnessed an alarming increase in incidents of auto theft and roobberies during the last week According to data gathered by Business Recorder, over 13 incidents of different kinds of theft, 12 cases of carjacking and one murder case we
After the successful commissioning of Mardankhel 2 Well, MOL Pakistan has started work on Mardankhel 3, another mega gas pipeline project in Hangu, Khyber Pakhtunkhwa, which is expected to significantly redress energy crisis in the country.
At the United Nations, Pakistan has called for pursuing of diplomatic solutions to the violence-ravaged parts of the Middle East. Speaking in a debate on Middle East at Security Council in New York, Pakistan's Permanent Representative to the world body Dr
President of Korangi Association of Trade & Industry (KATI), Danish Khan has urged the Prime Minister Imran Khan, Finance Minister Asad Umer and Advisor for Finance and Industry Abdul Razzaq Dawood to take immediate notice of 48 hours gas "Holiday" in ind
The Jamaat-e-Islami (JI), Karachi Chapter on Saturday sought a judicial commission to probe the privatization and twice sale of K-Electric with broadening the investigation into last PML-government's intriguing ties with Abraj group.
Reacting to the increase in gas prices, Chairman Pakistan People's Party (PPP) Bilawal Bhutto-Zardari said this government seems totally clueless about the economy. "This government has no sense of direction when it comes to the economy. Those who claimed
Local police on Saturday registered a case against a woman for misbehaving with police personnel after she was inquired for not displaying number plate on her car. According to details, a woman identified as Dr Shehla was stopped by police for not display
Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) stressed upon the need of creating synergy between countries with high end technologies to develop business partnerships in Pakistan. These views were expressed by the delegat
Dow University of Health Sciences (DUHS) Vice chancellor Professor Saeed Quraishy has said that Sindh lags behind Punjab in health infrastructure and provision of health services to its people and called upon the private sector to join hands with the gove
President Pakistan Businessmen and Intellectual Forum (PBIF), Mian Zahid Hussain has expressed fear that the future of constructing 5 million houses through Apna Ghar scheme will be in danger if problems of construction sector has not been addressed and r
President, SITE Association of Industry (SAI), Saleem Parekh has urged the government to revert the decision of gas load shedding so that industrial production continues without any hurdle which is in the larger interest of the country.
A major power breakdown hit the metropolis on Saturday as the national grid's transmission line tripped. A K-Electric spokesperson said, "Supply to the city is affected following tripping in transmission line of national grid. The sudden disruption in sup
The National Accountability Bureau (NAB) has initiated investigation of Nandipur Project for its completion cost escalating to Rs 58 billion from Rs 22 billion, said sources. They said NAB has also summoned employees of Chinese firms involved in the const
Prime Minister Imran Khan on Saturday said he was 'saddened' to learn of a train accident in India's Amritsar which claimed around 60 lives. "Saddened to learn of the tragic train accident in Amritsar, India. Condolences go to the families of the deceased
The Federal Board of Revenue (FBR) has transferred and posted 19 officials (BS-17 to BS-20) of Inland Revenue Service (IRS) with immediate effect. In this regard, the FBR has issued two notifications here on Saturday. According to a notification, transfer
Pakistan Awami Tehreek (PAT) on Saturday approached the Supreme Court of Pakistan, challenging the Lahore High Court's verdict regarding rejection of nomination of Sharif brothers in the Model Town case investigation. A larger bench of the LHC had rejecte
The Commission of Higher Education Commission (HEC) Saturday took several decisions including revision of financial, administrative, quality and plagiarism rules for universities, aimed at restoring the standard of higher education and getting rid of blac
As part of structural reforms, Sindh Police will now have new slogan namely "Proud to serve" for police force across the province. The decision was taken in a meeting called at the Central Police Office on Saturday, which was chaired by IG Sindh Police, K
Prime Minister's special assistant on overseas Pakistanis and human resource development Zulfiqar Hussain Bukhari, aka Zulfi Bukhari, has submitted an application in the Islamabad High Court (IHC) for removal of his name from the Exit Control List (ECL).
Senior Pakistan Muslim League-Nawaz (PML-N) leader Senator Asif Kirmani on Saturday alleged that Finance Minister Asad Umar is wreaking havoc on the country's economy and also feared a tsunami of price hike in days to come. In a statement, the PML-N senat
Pakistan Agriculture Technology Transfer Activity (PATTA) organised a one-day training workshop on "Safe use of pesticides" for the capacity building of those imparting technical know-how to the growers and other stakeholders of the farming sector. Model
Federal Minister for Railways Sheikh Rasheed has claimed that "there is an increase of Rs 1 billion in Railways earnings in the first fifty days of government." While addressing a press conference here on Saturday at Railway headquarters he further claime
By-elections to National Assembly and Sindh Assembly for two vacant seats from Karachi NA-247 (South-II) and PS-111 (South-V) will be held today. The seats fell vacant due to election of Arif Alvi as President of Pakistan and appointment of Imran Ismail a
Investors in Brazil are cheered by the prospect of far-right presidential candidate Jair Bolsonaro winning power because of his privatization promises that - though still unclear - are regarded far more favorably than the status quo offered by his leftist
The government has gone out of the way to provide heavily subsidised gas supply to exporters of five zero-rated sectors, but is the industry really responding to the challenge to bring real growth by a large margin and at reduced costs?
This year was touted as the year of women in politics in the United States, but in the business world, female bosses remain few and far between. And some warn the situation is unlikely to improve with men unwilling to play the role of mentor to younger fe
The role of infrastructure impacting economic growth and welfare has been studied across literature intensely during the past three decades. The post-World War II, reconstruction gave us a model where governments used to invest in economies so that an ena
After three days of in-camera hearings, on Thursday a two-member bench of the Peshawar High Court (PHC) announced a short order, setting aside convictions by military courts of as many as 74 terrorism accused, majority of whom faced death sentences. Since
The world population is growing and it is growing at a rate which is likely to outstrip its development gains. Pakistan is no exception to this possibility, all the more for its population explosion. Think of the 'progress' we as a nation have made in thi
Tens of thousands of people opposed to Britain's looming breakup with the EU rallied in the heart of London on Saturday, according to organisers, in the latest bid to try and stop Brexit. The march on parliament began as a noisy and festive affair, unitin