News Archives for Print - 2019-05-19

Exchange

Withdrawal of Super Tax, refunds top PBA's budget proposals

Pakistan Banks Association (PBA) has proposed to the Federal Board of Revenue (FBR) to withdraw Super Tax, clear backlog of pending refunds of banking sector, reduce tax rate for banking sector to 29 percent for Tax Year 2019 and make uniform sales tax ra

Published 19 May, 2019 12:00am

Exchange

Withdrawal of Super Tax, refunds top PBA''s budget proposals

Pakistan Banks Association (PBA) has proposed to the Federal Board of Revenue (FBR) to withdraw Super Tax, clear backlog of pending refunds of banking sector, reduce tax rate for banking sector to 29 percent for Tax Year 2019 and make uniform sales tax ra

Published 19 May, 2019 12:00am

Exchange

Iran FM discounts prospect of war with US

Iran's foreign minister Saturday discounted the prospect of a new war in the region because Tehran opposed it and no party was under the "illusion" the Islamic republic could be confronted. Tensions between Washington and Tehran have been on the rise as t

Published 19 May, 2019 12:00am

Exchange

Iran FM discounts prospect of war with US

Iran's foreign minister Saturday discounted the prospect of a new war in the region because Tehran opposed it and no party was under the "illusion" the Islamic republic could be confronted. Tensions between Washington and Tehran have been on the rise as t

Published 19 May, 2019 12:00am

Electricity prices increase by 8.48 percent in April: CPI data

Electricity prices are said to have been increased by 23 percent by the power Distribution Companies (Discos) during one year sans the impact of monthly fuel price adjustment and other charges. CPI data shows that electricity prices increased by 8.48 perc

Published 19 May, 2019 12:00am

Electricity prices increase by 8.48 percent in April: CPI data

Electricity prices are said to have been increased by 23 percent by the power Distribution Companies (Discos) during one year sans the impact of monthly fuel price adjustment and other charges. CPI data shows that electricity prices increased by 8.48 perc

Published 19 May, 2019 12:00am

Electricity prices increase by 8.48 percent in April: CPI data

Electricity prices are said to have been increased by 23 percent by the power Distribution Companies (Discos) during one year sans the impact of monthly fuel price adjustment and other charges. CPI data shows that electricity prices increased by 8.48 perc

Published 19 May, 2019 12:00am

Fixed tax regime to be eliminated gradually: Shabbar

The Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi has said the Fixed Tax Regime (FTR) will be gradually eliminated. He was speaking at Karachi Chamber of Commerce and Industry (KCCI) here on Saturday. He said that the 6.0 percent fixed tax re

Published 19 May, 2019 12:00am

Fixed tax regime to be eliminated gradually: Shabbar

The Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi has said the Fixed Tax Regime (FTR) will be gradually eliminated. He was speaking at Karachi Chamber of Commerce and Industry (KCCI) here on Saturday. He said that the 6.0 percent fixed tax re

Published 19 May, 2019 12:00am

Fixed tax regime to be eliminated gradually: Shabbar

The Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi has said the Fixed Tax Regime (FTR) will be gradually eliminated. He was speaking at Karachi Chamber of Commerce and Industry (KCCI) here on Saturday. He said that the 6.0 percent fixed tax re

Published 19 May, 2019 12:00am

Exchange

Assets Declaration Ordinance: 'Anyone may opt for amnesty during audit proceedings'

A person may opt for the amnesty scheme during audit proceedings as the Assets Declaration Ordinance 2019 only prohibits declaration of such assets with respect to whom proceedings are pending in any court of law like High Court or Supreme Court. The freq

Published 19 May, 2019 12:00am

Exchange

Assets Declaration Ordinance: 'Anyone may opt for amnesty during audit proceedings'

A person may opt for the amnesty scheme during audit proceedings as the Assets Declaration Ordinance 2019 only prohibits declaration of such assets with respect to whom proceedings are pending in any court of law like High Court or Supreme Court. The freq

Published 19 May, 2019 12:00am

Exchange

Assets Declaration Ordinance: ''Anyone may opt for amnesty during audit proceedings''

A person may opt for the amnesty scheme during audit proceedings as the Assets Declaration Ordinance 2019 only prohibits declaration of such assets with respect to whom proceedings are pending in any court of law like High Court or Supreme Court. The freq

Published 19 May, 2019 12:00am

Misuse of zero-rating facility: FTO tells FBR to conduct audit of manufacturers

Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has held the Federal Board of Revenue's systems and rules responsible for massive misuse of sales tax zero-rating facility available to manufacturers-cum-exporters under SRO 1125(I)2011. In a major move to

Published 19 May, 2019 12:00am

Misuse of zero-rating facility: FTO tells FBR to conduct audit of manufacturers

Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has held the Federal Board of Revenue's systems and rules responsible for massive misuse of sales tax zero-rating facility available to manufacturers-cum-exporters under SRO 1125(I)2011. In a major move to

Published 19 May, 2019 12:00am

Misuse of zero-rating facility: FTO tells FBR to conduct audit of manufacturers

Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has held the Federal Board of Revenue''s systems and rules responsible for massive misuse of sales tax zero-rating facility available to manufacturers-cum-exporters under SRO 1125(I)2011. In a major move t

Published 19 May, 2019 12:00am

Malta troops arrested for 'cold-blooded' migrant murder

Maltese police have arrested two soldiers for the "cold-blooded" murder of an Ivorian migrant, Prime Minister Joseph Muscat said on Saturday. Muscat tweeted his thanks to police for "solving this important case of the cold-blooded murder of an Ivorian imm

Published 19 May, 2019 12:00am

Qureshi reaches Kuwait

Foreign Minister Shah Mahmood Qureshi reached Kuwait on Saturday on a two-day visit to hold talks with Kuwaiti leadership on issues of mutual interest. During his stay, the foreign minister will hold talks with his Kuwaiti counterpart Sheikh Sabah Khaled

Published 19 May, 2019 12:00am

Qureshi reaches Kuwait

Foreign Minister Shah Mahmood Qureshi reached Kuwait on Saturday on a two-day visit to hold talks with Kuwaiti leadership on issues of mutual interest. During his stay, the foreign minister will hold talks with his Kuwaiti counterpart Sheikh Sabah Khaled

Published 19 May, 2019 12:00am

Sri Lanka marks war anniversary

Still reeling from the Easter terror attacks, Sri Lanka commemorates this weekend 10 years since the end of a bloody civil war that killed at least 100,000 people, from which the scars are still not healed. Security was tight in the north of the island, h

Published 19 May, 2019 12:00am

Sri Lanka marks war anniversary

Still reeling from the Easter terror attacks, Sri Lanka commemorates this weekend 10 years since the end of a bloody civil war that killed at least 100,000 people, from which the scars are still not healed. Security was tight in the north of the island, h

Published 19 May, 2019 12:00am

Macroeconomic framework discussed: Increase in pension expenditure irks NFC panel

A sub-group of National Finance Commission (NFC) has expressed serious concern over considerable increase in pension expenditure over the last five years and emphasised the need for addressing the issue on priority basis. Sources said that a meeting of th

Published 19 May, 2019 12:00am

Macroeconomic framework discussed: Increase in pension expenditure irks NFC panel

A sub-group of National Finance Commission (NFC) has expressed serious concern over considerable increase in pension expenditure over the last five years and emphasised the need for addressing the issue on priority basis. Sources said that a meeting of th

Published 19 May, 2019 12:00am

Macroeconomic framework discussed: Increase in pension expenditure irks NFC panel

A sub-group of National Finance Commission (NFC) has expressed serious concern over considerable increase in pension expenditure over the last five years and emphasised the need for addressing the issue on priority basis. Sources said that a meeting of th

Published 19 May, 2019 12:00am

Conservatives keep power in 'miracle' Australia election victory

Australia's ruling conservative coalition defied expectations to retain power in national elections Saturday, prompting Prime Minister Scott Morrison to declare: "I have always believed in miracles!" "How good is Australia!", shouted a jubilant Morrison,

Published 19 May, 2019 12:00am

Conservatives keep power in 'miracle' Australia election victory

Australia's ruling conservative coalition defied expectations to retain power in national elections Saturday, prompting Prime Minister Scott Morrison to declare: "I have always believed in miracles!" "How good is Australia!", shouted a jubilant Morrison,

Published 19 May, 2019 12:00am

Khalilzad spells out US priorities in Afghanistan

US special envoy of Afghanistan Zalmay Khalilzad has stated that it is top priority of the international community to restore peace in Afghanistan and peace process with presidential elections go forward simultaneously. In a tweet message on Saturday, he

Published 19 May, 2019 12:00am

Khalilzad spells out US priorities in Afghanistan

US special envoy of Afghanistan Zalmay Khalilzad has stated that it is top priority of the international community to restore peace in Afghanistan and peace process with presidential elections go forward simultaneously. In a tweet message on Saturday, he

Published 19 May, 2019 12:00am

Exemption, tax credit are not one and the same thing: SC

The Supreme Court has held that an exemption and a tax credit are not, essentially, one and the same thing, as they are conceptually distinct. The judgement authored by Justice Muneeb Akhtar dismissed the verdict of Lahore High Court that a tax credit und

Published 19 May, 2019 12:00am

Exemption, tax credit are not one and the same thing: SC

The Supreme Court has held that an exemption and a tax credit are not, essentially, one and the same thing, as they are conceptually distinct. The judgement authored by Justice Muneeb Akhtar dismissed the verdict of Lahore High Court that a tax credit und

Published 19 May, 2019 12:00am

Laying new railways tracks: Submission of bids: date extended till June 13

After receiving lacklustre response from investors, Pakistan Railways extended deadline for submission of bids for laying new railways tracks and rehabilitation/ up-gradation of Main Line-2 (ML-2) and ML-3 for third time. Pakistan Railways had invited bid

Published 19 May, 2019 12:00am

Laying new railways tracks: Submission of bids: date extended till June 13

After receiving lacklustre response from investors, Pakistan Railways extended deadline for submission of bids for laying new railways tracks and rehabilitation/ up-gradation of Main Line-2 (ML-2) and ML-3 for third time. Pakistan Railways had invited bid

Published 19 May, 2019 12:00am

Laying new railways tracks: Submission of bids: date extended till June 13

After receiving lacklustre response from investors, Pakistan Railways extended deadline for submission of bids for laying new railways tracks and rehabilitation/ up-gradation of Main Line-2 (ML-2) and ML-3 for third time. Pakistan Railways had invited bid

Published 19 May, 2019 12:00am

Exchange

Towards mainstreaming tribal areas

Monday's unanimous passage of the 26th Constitutional Amendment bill by the National Assembly, giving the people living in the erstwhile Federally Administered Tribal Areas (Fata) due representation in both the National Assembly and Khyber Pakhtunkhwa ass

Updated 20 May, 2019 06:43am

Rule by the unelected

The PTI government has appointed six more Special Assistants to the prime minister, taking the number of such assistants to 14. An elected prime minister per force of circumstance feels constrained to govern with the help of unelected; how pathetic but th

Updated 20 May, 2019 06:43am

Exchange

Game time!

The show began last week. The IMF press release could be deciphered in a few prior actions. One is the market based exchange rate, and that has been manifested in the last two days of week. The other two are on energy cost recovery, and promise of reducin

Published 19 May, 2019 12:00am

Exchange

Investment in science and technology: The new national Imperative

Despite its immense potential, science and technology (s&t) sector of Pakistan has continued to suffer from the inadvertence of policymakers. We can no longer afford to treat the sector as a stepchild in the country's strategic planning exercises. There i

Published 19 May, 2019 12:00am

War talk grips Iraq as storied US carrier returns to Gulf

Iraqis have endured successive wars but spiraling tensions between Washington and Tehran have many convinced that new conflict looms between their key allies and that they will pay the price.

Published 19 May, 2019 12:00am

India's 2019 elections

This is apropos a Business Recorder news item "Modi slams Gandhi assassin comments ahead of key final vote" carried by the newspaper yesterday. According to it, Indian Prime Minister Narendra Modi condemned a firebrand Hindu election candidate from

Published 19 May, 2019 12:00am

Pakistan for more global efforts to combat illicit financial flows

Pakistan called for stepped up efforts to plug loopholes that impede the international community's ability to combat illicit financial flows.

Published 19 May, 2019 12:00am

ICCI opposes further hike in gas tariff

The Islamabad Chamber of Commerce & Industry has strongly opposed any further hike in the gas tariff and warned the government to desist from taking any such decision as it would bring disastrous consequences for the business sector and unleash a new wave

Published 19 May, 2019 12:00am

E&S education: KP government okays teachers' e-transfer policy

Khyber Pakhtunkhwa Chief Minister Mehmood Khan has approved e-transfer policy for teachers in the Elementary and Secondary (E&S) Education Department. Adviser to Chief Minister on Education Ziaullah Bangash said in a statement that all transfers of teache

Published 19 May, 2019 12:00am

ANP threatens to stage demo in front of NAB office

The provincial president ANP, Aimal Wali Khan, has reiterated that in case the National Accountability Bureau (NAB) failed in showing progress on BRT, BoK, Malam Jabba and Billion Tree Tsunami cases, they will stage rally in front of the office of nationa

Published 19 May, 2019 12:00am

Efforts under way to promote tourism: minister

Khyber Pakhtunkhwa Minister for Information Shaukat Ali Yousafzai said that incumbent provincial government is taking measures for promotion tourism, especially attracting more tourists from across the world to cultures like Buddhism and Gandhara. He was

Published 19 May, 2019 12:00am

KP doctors' boycott of OPDs continues amid patients' sufferings

Turning a blind eye to the government's warning of taking a stern action against them, the doctors amid a crippling strike in all health facilities across Khyber Pakhtunkhwa (KP) continued the boycott of their duties in outpatient departments (OPDs) for t

Published 19 May, 2019 12:00am

Cotton

Recent rains to have positive impact on Kharif crops

The recent rains will have a very positive impact on overall agriculture production of major Kharif crops including cotton, sugarcane, rice and maize, agriculture experts said. Sources stated that the positive impact would be on both high delta Kharif cro

Published 19 May, 2019 12:00am

Encroachments removed from several pavements, parking lots of Islamabad

In connection with anti-encroachment drive, Capital Development Authority (CDA) in collaboration with Islamabad Capital Administration (ICT) started operation against car dealers, showroom owners and others who have occupied footpaths and parking areas in

Published 19 May, 2019 12:00am

Heroin powder worth Rs 10.4 million seized

Model Customs Collectorate (MCC), Preventive on Saturday seized light brown heroin powder worth Rs 10.4 million at Jinnah International Airport (JIAP). According to details, the action was taken on a tip-off, which revealed that some unscrupulous elements

Published 19 May, 2019 12:00am

SGA moves SHC: Quality premium to sugarcane growers as per SC judgment sought

Sindh Growers Alliance (SGA) has moved Sindh High Court (SHC) against sugar mills in the province for non-compliance of judgment of the Supreme Court to pay quality premium to sugarcane growers. SGA with co-petitioner Syed Mureed Ali Shah Advocate filed t

Published 19 May, 2019 12:00am

PBIF chief voices concern over US-Iran tension

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has said that EU and other influential countries should play their due role in diffusing tension between the US and Iran and bring both sides to the table. Pakistan's fragi

Published 19 May, 2019 12:00am

Hearing into media houses attack case adjourned till June 13

An anti-terrorism court judge Saturday expressed resentment over absence of the lawyers in hearing of two cases against Muttahida Qaumi Movement-Pakistan leaders pertaining to attack on media houses on August 22, 2016 after hate speech of the party's foun

Published 19 May, 2019 12:00am

New police law to make police accountable: adviser

Adviser to Sindh Chief Minister for Information, Law and Anticorruption Barrister Murtaza Wahab while talking to the media on Saturday said 80 percent suggestions of opposition parties have been incorporated in new police law, while 20 percent presented b

Published 19 May, 2019 12:00am

Ilma University's students failed to appear in exam

Several BBA students of Ilma University have failed to appear in examination due to non cooperative attitude of the university administration. The students urged the Chief Minister Syed Murad Ali Shah and Education Minister Sindh Syed Sardar Ali Shah to t

Published 19 May, 2019 12:00am

PPDWP approves five uplift schemes

The Punjab Provincial Development Working Party (PPDWP) approved five development schemes of various sectors with an estimated cost of Rs 2625.596 million.

Published 19 May, 2019 12:00am

Sindh Assembly adopts Police Order 2002 amid opposition's sarcastic remarks

The provincial legislature on Saturday adopted Sindh (Repeal of the Police Act, 1861 and Revival of Police Order, 2002) Bill, 2019," into law. The legislation is aimed at restoring the Police Order 2002 to redefine and reconstruct the law enforcers' role

Published 19 May, 2019 12:00am

FPCCI lauds government's efforts for broadening tax base through amnesty scheme

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lauded the government efforts to broaden the tax base through Amnesty-Asset Declaration Scheme 2019. FPCCI on Saturday held a meeting at Federation House to review and discuss the new ta

Published 19 May, 2019 12:00am

Shallow westerly wave affects upper parts of country

A shallow westerly wave is affecting upper parts of the country that would result into an end to the rainy spell, said daily weather report from the National Weather Forecasting Centre. However, mainly hot and dry weather is expected in most parts of the

Published 19 May, 2019 12:00am

NH&MP launches drive to prevent mishaps involving PSVs

The National Highway and Motorway Police (NH&MP) North Zone (N-5) Saturday launched a special campaign for prevention of public service vehicle accidents. On the direction of DIG N-5 North Zone Mohammad Alam Shinwari, an effective and comprehensive campai

Published 19 May, 2019 12:00am

Carjacking, robbery cases on the rise in capital

Some five theft cases including robberies and snatching at gunpoint and six cases of carjacking were reported to various police stations of the city during last week. According to data gathered by Business Recorder here on Saturday, the robbers str

Published 19 May, 2019 12:00am

Battery industry seeks uniform 5 percent sales tax

Battery Industry in its budget proposals for 2019-20 has proposed that the benefit of concessionary rate of custom on import of raw materials, components, sub-components of automotive batteries be extended to all types of storage batteries, manufactured l

Published 19 May, 2019 12:00am

UK-Pakistan scientists resolve to produce biopesticides in Pakistan

Scientists and researchers from Pakistan and UK resolved to develop bio-control strategies and produce biopesticides in Pakistan besides developing smart surveillance system for crop pests, disease monitoring and forecast in order to face the food challen

Published 19 May, 2019 12:00am

Prices of vegetables, fruits witness decline

Prices of perishable kitchen items including vegetables, fruits and chicken witnessed a decline, while prices of pulses, sugar, wheat flour witnessed an increase during this week past as compared to preceding week, a survey conducted by Business Record

Published 19 May, 2019 12:00am

Merged tribal district: EPI offers payments for vaccinating children against preventable diseases

Expanded Programme on Immunisation (EPI) has decided to pay parents to vaccination visit in merged tribal district for vaccinating their children against diseases. The decision was taken to ensure every child get vaccinated throughout tribal districts, wh
Published 19 May, 2019 12:00am

Kaira's son laid to rest amid moving scenes

A large number of political personalities and general public Saturday attended the funeral prayers of Pakistan People's Party (PPP) leader Qamar Zaman Kaira's son Usama Qamar in Lala Musa. Former president Asif Ali Zardari, PPP Chairman Bilawal Bhutto Zar
Published 19 May, 2019 12:00am

CNG price up by Rs 3/kg in Punjab

The Compressed Natural Gas (CNG) dealers in Punjab on Saturday announced that they would increase the fuel price by up to Rs3 per kilogramme, citing an increase in dollar price as the reason behind the decision. With the move, the price of RLNG based CNG
Published 19 May, 2019 12:00am

Rashid accuses former rulers of current economic mess

Federal Minister for Railways Sheikh Rashid Ahmed on Saturday lashed out at political rivals and placed all the blame of present economic crises on "those who had ruled for 40 years." He was responding to the criticism of the opposition parties, who are a
Published 19 May, 2019 12:00am

Afhgan refugees: 2019 to be celebrated as '40 years of hospitality': Shehryar

Minister for State and Frontier Region (SAFRON) Shehryar Afridi Saturday said that Pakistan would celebrate year 2019 as forty years of hospitality of Afghan refugees. Addressing the participants at Afghan refugee camp here, the minister said that Pakista
Published 19 May, 2019 12:00am

Exchange
Awareness session on 'Money Laundering' held at LCCI

Devastating effects of money laundering on economy are hard to count. It damages not only the financial institutions directly but also country's productive activities in various sectors of economy. Measures are needed but these should not be harmful for t
Published 19 May, 2019 12:00am

Tevta MD claims improvement in standard of technical education

Managing Director (MD) Technical Education and Vocational Training Authority (TEVTA), Syed Sajjad Ali Shah has said that the standard of education had improved after the establishment of the authority and the preparation of demand-driven workforce has bee
Published 19 May, 2019 12:00am

Nepra flouts time frame of Discos quarterly adjustments

The National Electric Power Regulatory Authority (Nepra) has violated its own rules while considering the requests of quarterly adjustments of distribution companies (Discos) on account of variation in Power Purchase Price (PPP) for the quarter July to Se
Published 19 May, 2019 12:00am

Sarwar hosts iftar-dinner for Railways employees

Punjab Governor Chaudhary Muhammad Sarwar on Saturday hosted an iftar dinner in the honour of more than 5000 labourers, workers and employees of Pakistan Railways. Federal Railway Minister Sheikh Rashid Ahmad with many others participated in the iftar din
Published 19 May, 2019 12:00am

Currency
Opposition jettisons Ogra's proposal for gas price hike

Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) have rejected the proposed rise in gas prices by 235 percent. PPP senator Sherry Rehman Saturday said the Oil and Gas Regulatory Authority (Ogra) has proposed pushing up the gas tariff
Published 19 May, 2019 12:00am

PIAF slams Ogra for recommending 47pc raise in gas tariff

As the Ogra, after up to 143 percent hike in gas prices last year, has sought up to 47 percent further increase in the prices of gas for 2019-20, the Pakistan Industrial & Traders Associations Front (PIAF) has criticized the demand, terming it a deal with
Published 19 May, 2019 12:00am

Najam Sethi's suit: PM's counsel asked to respond by May 30

A Lahore court on Saturday gave Prime Minister Imran Khan's lawyer more time to furnish his reply in Rs100 million defamation suit filed by former interim Punjab chief minister Najam Sethi against him.
Published 19 May, 2019 12:00am

Buzdar blames previous governments for current economic woes

Punjab Chief Minister Sardar Usman Buzdar has blamed the previous governments for the bad condition of the country's economy. In a statement, CM Buzdar said that projects for personal exhibition were installed by taking hefty loans which weakened the econ
Published 19 May, 2019 12:00am

Nawaz, NAB's appeals hearing fixed for June 19

The Islamabad High Court (IHC) on Saturday fixed the hearing of appeals of former prime minister Nawaz Sharif and National Accountability Bureau (NAB) against the Al-Azizia and Flagship verdicts on June 19. A two-judge bench comprising Justice Aamir Faroo
Published 19 May, 2019 12:00am

Lesco to pay off-day wages before Eid

The Lahore Electric Supply Company (LESCO) has planned to off-day wages and other arrears ahead of Eid. A notification of the Company has directed the employees to submit their claims before 20th of May in order to process them ahead of Eid. No funds woul
Published 19 May, 2019 12:00am

PM vows to form body for resolving tribal peoples' issues

Prime Minister Imran Khan has reiterated that tribal culture, traditions and way of living will remain preserved even after merger with Khyber Pakhtunkhwa. "A committee will be formed to oversee the issues faced by tribal people," he said, addressing the
Published 19 May, 2019 12:00am

Currency
FBR plans to raise tax-to-GDP ratio up to 17 percent in five years

The Federal Board of Revenue (FBR) is actively working on a long-term tax reforms programme with the objective of raising tax to GDP ratio up to 17 percent in the next five years.
Published 19 May, 2019 12:00am

Firdous accuses opposition of conspiring against government in 'the name of Iftar'

Reacting to PPP Chairman Bilawal Bhutto Zardari's scheduled Iftar dinner on Sunday, Special Assistant to the Prime Minister Firdous Ashiq Awan on Saturday accused opposition politicians of conspiring against the incumbent government in "the name of Iftar"
Published 19 May, 2019 12:00am

Country's imports decline by $4 billion: Dawood

Adviser to Prime Minister for Commerce, Textile, Industry and Production, and Investment Abdul Razak Dawood said on Saturday that country's economy is improving and the imports declined by $4 billion. Adviser was talking to the media after attending the f
Published 19 May, 2019 12:00am

Exchange
Europe's far-right rallies in Milan ahead of EU vote

Nationalist and far-right parties from across Europe held a rally on Saturday, led by Italian Deputy Prime Minister Matteo Salvini, promising to reshape the continent following next week's EU parliamentary election. Salvini, who heads Italy's League party
Published 19 May, 2019 12:00am

Thousands of Poles, including Tusk, hold pro-EU rally

European Council chief Donald Tusk on Saturday joined thousands at a pro-Europe opposition rally in Warsaw, calling on his fellow Poles to vote against the eurosceptic governing conservatives in this month's EU elections. "You have no choice.... You can't
Published 19 May, 2019 12:00am

Pope pays tribute journalists killed; says press freedom vital

Pope Francis paid tribute on Saturday to journalists killed while doing their jobs, saying media freedom is a key indicator of a country's health. In an address to the Foreign Press Association in Italy, he urged journalists to shun fake news and continue
Published 19 May, 2019 12:00am

Salvadoran priest found murdered

A priest was found murdered in his church in a small town west of San Salvador, a police source said Saturday. The Catholic cleric, identified as Cecilio Perez, was found by parishioners in the San Jose La Majada church in Juayua, an agent of El Salvador'
Published 19 May, 2019 12:00am

Return of Iraq-Syria flights postponed

Damascus said it had been informed Iraqi flights to Syria would not resume as planned Saturday after more than seven years, over what it said were "administrative" reasons. Iraq's national carrier, Iraqi Airways, said Thursday it would resume flights to D
Published 19 May, 2019 12:00am

US approves missile sales to South Korea, Japan

The United States said Friday it had approved more than $600 million in sales of air defense missiles to South Korea and Japan as tensions return with North Korea. The State Department said it had approved 94 SM-2 missiles used by ships against air threat
Published 19 May, 2019 12:00am

Exchange
Ex-CIA agent gets 20-year sentence for spying for China

An ex-CIA officer was sentenced to 20 years in prison Friday for spying for China in a case called part of an "alarming trend" in the US intelligence community. Kevin Mallory, 62, was convicted under the Espionage Act for selling classified US "defense in
Published 19 May, 2019 12:00am

Schwarzenegger attacked at South Africa sports event

Hollywood star Arnold Schwarzenegger was attacked on Saturday by a man who kicked him in the back at a sports event in South Africa that the action hero was hosting. The bodybuilder and former politician was chatting with fans at the Sandton Convention Ce
Published 19 May, 2019 12:00am

Russia economy slows after VAT hike

Russia's economy slowed sharply to 0.5 percent growth year-on-year in the first quarter, according to state statistics published Friday, with the government pinning the blame on a VAT hike. The economy ministry had predicted 0.8 growth in the first quarte
Published 19 May, 2019 12:00am

EasyJet losses deepen

British low-cost airline EasyJet said Friday that first-half net losses more than quadrupled due to "tough" market conditions and high fuel costs. The carrier also warned that its second-half performance would encounter turbulence, partly because of Brexi
Published 19 May, 2019 12:00am

Saudi's Falih says sees no oil shortage, but OPEC to act if needed

Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market's needs. Speaking in Jeddah a
Published 19 May, 2019 12:00am

Iran changes tactics, destinations on oil exports: maritime official

Iran has adopted new tactics and new destinations in shipping its oil exports following the re-imposition of US sanctions, a senior Iranian maritime official was quoted as saying on Saturday by the semi-official ILNA news agency. "The Oil Ministry's tacti
Published 19 May, 2019 12:00am

Exchange
Tackle corruption, liberalise prices, IMF urges Uzbekistan

Uzbekistan must combat corruption, liberalise prices and trim its fiscal deficit as it continues economic reforms which ended decades of self-imposed isolation, International Monetary Fund chief Christine Lagarde told Reuters on a visit to Tashkent. The C
Published 19 May, 2019 12:00am

Germany green-lights e-scooters on roads, not pavements

Germany on Friday authorised battery-powered scooters on its streets and cycle paths but banned them from pavements to protect pedestrians as the two-wheeled craze continues to spread across Europe. Following fierce debate over road safety and the impact
Published 19 May, 2019 12:00am

Exchange
Dollar gains as European concerns hurt euro, sterling

The dollar rose on Friday as concern about next week's European parliamentary elections dented demand for the euro, while the British pound dropped to a four-month low on worries about Britain's exit from the European Union. The dollar has been favoured a
Published 19 May, 2019 12:00am

Currency
As bitcoin gyrates, less euphoria in evidence at blockchain gathering

The vibe at a gathering this week for blockchain enthusiasts felt decidedly less exuberant than its predecessor a year ago after dizzying swings in bitcoin. Last year's Consensus blockchain conference took place just four months after the virtual currency
Published 19 May, 2019 12:00am

Canadian dollar recovers

The Canadian dollar edged higher against its US counterpart on Friday, recovering from an earlier three-week low after reports that a deal was reached to remove tariffs on its metals that had been imposed by the United States. US officials have agreed to
Published 19 May, 2019 12:00am

Speculators cut net long US dollar bets

Speculators reduced their net long US dollar bets in the latest week to the lowest level in about six weeks, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday. The value of the net long dollar positio
Published 19 May, 2019 12:00am

Currency	Rate
USD PKR Interbank Selling / Feb 14	279.27
USD PKR Interbank Buying / Feb 14	279.07
USD to Japanese Yen / Feb 14	152.31
USD to Swiss Franc / Feb 14	0.90
Pound Sterling to USD / Feb 14	1.26
Euro to USD / Feb 14	1.05
UK LIBOR % / Feb 14	4.96

Stock	Volume
S&P 500 / Feb 14	6,114.63
India Sensex / Feb 14	75,939.21
Tokyo Nikkei / Feb 14	39,149.43
Nasdaq / Feb 14	20,026.77
Hang Seng / Feb 14	22,620.33
FTSE 100 / Feb 14	8,732.46
Dow Jones / Feb 14	44,546.08
Germany DAX 30 / Feb 14	22,513.42
France CAC40 / Feb 14	8,178.54

Item	Value
Crude Oil USD/Barrel / Feb 14	70.74
Karachi Cotton PKR/37.32 KG / Feb 14	17,785
Gold 10 Grams PKR / Feb 14	262,517
Gold Spot USD/Ounce / Feb 14	2,882.53
Cotton US¢/pound / Feb 14	68.31
Petrol/Litre / Feb 16	256.13
Diesel/Litre / Feb 16	263.95

Stock	Price
At-Tahur Ltd. / Feb 14 At-Tahur Limited(PREMA)	35.26 ▲ 3.21 (10.02%)
Saritow Spinning / Feb 14 Saritow Spinning Mills Limited(SSML)	23.84 ▲ 2.17 (10.01%)
Leather Up Ltd. / Feb 14 Leather Up Limited(LEUL)	38.02 ▲ 3.46 (10.01%)
Lucky Cement / Feb 14 Lucky Cement Limited(LUCK)	1,366.37 ▲ 124.22 (10%)
Suhail Jute / Feb 14 Suhail Jute Mills Limited(SUHJ)	108.35 ▲ 9.85 (10%)
Agriautos Ind. / Feb 14 Agriauto Industries Limited(AGIL)	115.49 ▲ 10.5 (10%)
Mandviwala / Feb 14 Mandviwala Mauser Plastic Industries(MWMP)	20.48 ▲ 1.86 (9.99%)
Sindh Abadgar / Feb 14 Sindh Abadgar's Sugar Mills Limited(SASML)	50.08 ▲ 4.55 (9.99%)
Popular Islamic / Feb 14 Popular Islamic Modaraba(PIM)	12.37 ▲ 1.04 (9.18%)
F.Credit & Inv / Feb 14 First Credit and Investment Bank Limited(FCIBL)	8.39 ▲ 0.7 (9.1%)

Stock	Price
Dewan Textile / Feb 14 Dewan Textile Mills Limited(DWTM)	6.80 ▼ -0.99 (-12.71%)
TPL Trakker Ltd / Feb 14 TPL Trakker Limited(TPLT)	7.55 ▼ -0.93 (-10.97%)
I.C.C. Ind. / Feb 14 ICC Industries Limited(ICCI)	10.77 ▼ -1.2 (-10.03%)
Redco Textile / Feb 14 Redco Textiles Limited(REDCO)	22.60 ▼ -2.51 (-10%)
Engro Powergen / Feb 14 Engro Powergen Qadirpur Limited(EPQL)	25.78 ▼ -2.86 (-9.99%)
D.M. Textile / Feb 14 D.M. Textile Mills Limited(DMTX)	63 ▼ -6.99 (-9.99%)
Universal Ins. / Feb 14 The Universal Insurance Company Limited(UVIC)	12.91 ▼ -1.43 (-9.97%)
Sakrand Sugar / Feb 14 Sakrand Sugar Mills Limited(SKRS)	12.11 ▼ -1.34 (-9.96%)
Idrees Tex. / Feb 14 Idrees Textile Mills Limited(IDRT)	12.81 ▼ -1.41 (-9.92%)
Sui South Gas / Feb 14 Sui Southern Gas Company Limited(SSGC)	32.68 ▼ -3.56 (-9.82%)

Stock	Volume
B.O.Punjab / Feb 14 The Bank of Punjab(BOP)	79,317,612 ▼ -0.66
Lotte Chemical / Feb 14 Lotte Chemical Pakistan Limited(LOTCHEM)	72,104,503 ▼ -1.12
Power Cement / Feb 14 Power Cement Limited(POWER)	40,290,839 ▼ -0.18
Sui South Gas / Feb 14 Sui Southern Gas Company Limited(SSGC)	32,711,461 ▼ -3.56
Hascol Petrol / Feb 14 Hascol Petroleum Limited(HASCOL)	31,600,150 ▼ -0.41
Dewan Motors / Feb 14 Dewan Farooque Motors Limited(DFML)	31,281,602 ▼ -2.6
Cnergyico PK / Feb 14 Cnergyico PK Limited(CNERGY)	20,508,125 ▼ -0.25
Fauji Foods Ltd / Feb 14 Fauji Foods Limited(FFL)	20,173,357 ▼ -0.24
Fauji Cement / Feb 14 Fauji Cement Company Limited(FCCL)	16,904,777 ▼ -1.09
WorldCall Telecom / Feb 14 Worldcall Telecom Limited(WTL)	16,467,161 ▼ -0.04

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