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Print - 2019-07-10
It's Brexit, stupid: the appeal of Boris Johnson

It's Brexit, stupid: the appeal of Boris Johnson

There is a long charge sheet against Britain's Boris Johnson but among Conservative party activists who will choose the country's next prime minister, Brexit appears to trump everything. The former foreign minister and ex-London mayor is accused of lying,
Published 10 Jul, 2019 12:00am
In the long run we are all dead
Currency

In the long run we are all dead

This is apropos a Business Recorder editorial "'Charter of economy'" carried by the newspaper yesterday. The newspaper has argued, among other things, that "However, all its efforts could be frustrated by a determined opposition within the parliame
Published 10 Jul, 2019 12:00am
Detail verdict on Babar Awan's acquittal issued

Detail verdict on Babar Awan's acquittal issued

Accountability court Judge Muhammad Arshad Malik has issued detailed judgement pertaining to acquittal of former law minister Babar Awan and former law secretary Riaz Kiyani in the Nandipur Power Project case. The court on June 25 acquitted Babar and Kiya
Published 10 Jul, 2019 12:00am
Ousting Senate chairman: PTI accuses opposition of weakening federation

Ousting Senate chairman: PTI accuses opposition of weakening federation

The ruling Pakistan Tehreek-e-Insaf (PTI) on Tuesday termed opposition parties' decision to oust chairman Senate Sadiq Sanjrani an attempt to weaken the federation. Federal Minister for Communications Murad Saeed said it was quite unfortunate that instead
Published 10 Jul, 2019 12:00am
Zaheen Tahira passes away

Zaheen Tahira passes away

Pakistani drama actor Zaheen Tahira passed away early Tuesday morning. The Khuda Ki Basti actor died of a heart attack, her nephew Mohammed Ali confirmed. Ali said she was dealing with health issues for the last 12 to 13 days. She was on the ventilator af
Published 10 Jul, 2019 12:00am
FM to attend Commonwealth moot in UK

FM to attend Commonwealth moot in UK

Foreign Minister Shah Mahmood Qureshi says Pakistan will continue playing its due role in the Commonwealth. He was talking to the media before leaving for Britain on a two-day official visit, on Tuesday. The minister said he would be participating in an e
Published 10 Jul, 2019 12:00am
PPP leader appears before NAB in assets case

PPP leader appears before NAB in assets case

Pakistan People's Party (PPP) leader and Sindh's former home minister Sohail Anwar Siyal on Tuesday appeared before the National Accountability Bureau (NAB), Sukkur, in a case pertaining to assets beyond means, citing sources. Siyal reached the NAB office
Published 10 Jul, 2019 12:00am
MQM-P accuses Sindh government of selling jobs

MQM-P accuses Sindh government of selling jobs

Muttahida Qaumi Movement-Pakistan (MQM-P) Convener Khalid Maqbool Siddiqui here on Tuesday accused the Pakistan Peoples Party (PPP) led Sindh government of selling government jobs. Talking to journalists, Siddiqui alleged that the provincial government wa
Published 10 Jul, 2019 12:00am
Revenue Division: Hammad Azhar assumes charge as federal minister

Revenue Division: Hammad Azhar assumes charge as federal minister

In pursuance of Cabinet Division's notification No. 2-6/2018-Min.I dated 08.07.2019, Muhammad Hammad Azhar has assumed the charge of Federal Minister for Revenue Division on July 8, 2019. In this regard, the FBR has issued a notification here on Tuesday.
Published 10 Jul, 2019 12:00am
Case against Maryam amounts to double jeopardy, opine experts

Case against Maryam amounts to double jeopardy, opine experts

Legal experts are of the view that since the appeal against Accountability Court judgement in Avenfield apartments' reference is pending in Islamabad High Court (IHC); therefore, till its final verdict vice president PML-N Maryam Nawaz can't be punished a
Published 10 Jul, 2019 12:00am
ECP finalises arrangements for polls in tribal districts

ECP finalises arrangements for polls in tribal districts

The Election Commission of Pakistan (ECP) on Monday finalized all necessary arrangements for holding free, fair, transparent and peaceful elections in tribal districts for Khyber Pakthunkhwa Assembly scheduled for July 20, 2019. The arrangements were fina
Published 10 Jul, 2019 12:00am
Fawad describes Iran a leading country in world of science

Fawad describes Iran a leading country in world of science

Pakistan's Minister of Science and Technology described Iran as a leading, influential country in the world of science. Iran's role in scientific forums and discussion is significant, Fawad Hussain Chaudhry told reporters on the sidelines of the 4th Econo
Published 10 Jul, 2019 12:00am
Glacier melting: relief operations continuing in Chitral, 22 rescued

Glacier melting: relief operations continuing in Chitral, 22 rescued

KP Minister for Information Shaukat Ali Yousafzai has said that relief and rescue operations in Golen area Chitral are continued and Chief Minister Khyber Pakhtunkhwa Mahmood Khan is monitoring the rescue operations himself. 22 people have been rescued in
Published 10 Jul, 2019 12:00am
Emirates NBD team meets Hafeez Sheikh

Emirates NBD team meets Hafeez Sheikh

A five-member delegation from Emirates NBD Bank called on Adviser to Prime Minister on Finance Dr Abdul Hafiz Sheikh on Tuesday. The delegation was led by Fahad Al Qasim, CEO Emirates NBD Capital Limited. The Adviser welcomed the delegation and expressed
Published 10 Jul, 2019 12:00am
Higher temperature may hasten glacier melting in Chitral valley: Met

Higher temperature may hasten glacier melting in Chitral valley: Met

Higher temperature is expected to expedite melting of the glacier in Chitral valley, Khyber Pakhtunkhwa and subsequent unleashing of high flows in rivers, according to the Met Office. It said that temperature in Chitral valley is high and expected to rema
Published 10 Jul, 2019 12:00am
PAD warns against whitefly attack
Cotton

PAD warns against whitefly attack

Whitefly is a dangerous sucking pest of the cotton crop which can cause up to 60 per cent loss in the production besides quality degeneration. In an advisory issued here on Tuesday, spokesman of the provincial agriculture department said that whitefly cau
Published 10 Jul, 2019 12:00am
Engro Foods now becomes FCEPL

Engro Foods now becomes FCEPL

Engro Foods Limited, is now known as FrieslandCampina Engro Pakistan Limited (FCEPL). The corporate identity change has followed through after obtaining the requisite approvals from SECP and the Boards of Royal Friesland Campina and Engro Corporation Limi
Published 10 Jul, 2019 12:00am
Entries invited for APNS awards

Entries invited for APNS awards

Sarmad Ali, Secretary General of the All Pakistan Newspapers Society has announced the categories that constitute 23rd APNS Journalist Awards and requested the journalists/photographers/cartoonists of member publications to submit the entries in any one t
Published 10 Jul, 2019 12:00am
Sindh government extends Rangers' special powers

Sindh government extends Rangers' special powers

The Sindh government on Tuesday extended Rangers' special policing powers for 90 more days in Karachi. According to a notification issued by the Home Department, the Sindh government approved the summary extending the policing powers granted to the parami
Published 10 Jul, 2019 12:00am
'Imran will be responsible if anything happens to Nawaz'

'Imran will be responsible if anything happens to Nawaz'

Pakistan Muslim League-Nawaz (PML-N) president and Opposition Leader in National Assembly Shahbaz Sharif on Tuesday has said that Prime Minister Imran Khan will be responsible if anything happens to ex-PM Nawaz Sharif at Kot Lakhpat Jail. Responding to th
Published 10 Jul, 2019 12:00am
B Com-I exams result announced

B Com-I exams result announced

The Controller of Examinations, University of Karachi, Professor Arshad Azmi, announced the result of B.Com (Regular) Part-I, Annual Examination-2018 on Tuesday. According to gazette issued, 10,502 candidates were registered and 10,229 students appeared i
Published 10 Jul, 2019 12:00am
400 containers carrying solar panels stuck at ports
Exchange

400 containers carrying solar panels stuck at ports

Over 400 containers of solar panels, invertors and other equipment used in solar technology are stuck at ports, due to delayed implementation of SRO 604/2019. This was revealed in a letter sent to the Secretary for Commerce by FPCCI Vice President Arshad
Published 10 Jul, 2019 12:00am
LHC allows Nawaz's personal physician to examine him weekly

LHC allows Nawaz's personal physician to examine him weekly

The Lahore High Court (LHC) on Tuesday allowed personal physician of former prime minister Nawaz Sharif conditionally to examine him in jail once a week. The court permitted Dr Adnan to examine the former PM under the supervision of jail doctors and barre
Published 10 Jul, 2019 12:00am
SNGPL initiates work on new pipeline project

SNGPL initiates work on new pipeline project

Sui Northern Gas Pipeline Limited (SNGPL) has started the work on a new 8 inch Dia system augmentation pipeline project on Warsak road Peshawar to overcome low pressure on Warsak road area Peshawar city. According to press statement issued here on Tuesday
Published 10 Jul, 2019 12:00am
Anchorperson shot dead

Anchorperson shot dead

Mureed Abbas Khar, an anchorperson of a private TV channel, and his friend were killed here on Tuesday night. According to police, Atif Zaman, a business partner of Mureed Abbas, called him to his office situated on Khayaban-e-Bukhari in DHA for payment.
Published 10 Jul, 2019 12:00am
Thar coal mining, power projects commercial operations begin

Thar coal mining, power projects commercial operations begin

Engro Powergen Thar (Private) Limited (EPTL) and Sindh Engro Coal Mining Company (SECMC) on Tuesday successfully declared the Commercial Operations Date (COD) of the first phase of the Thar coal project. The project is joint venture of the EPTL, a majorit
Published 10 Jul, 2019 12:00am
Alvi for fighting scourge of child abuse

Alvi for fighting scourge of child abuse

President Arif Alvi has stressed for fighting the scourge of child abuse at all levels. In a tweet on Tuesday regarding Ministry of Human Rights Campaign for Prevention of Child Sexual Abuse, he said parents must be guided to recognize and avoid situation
Published 10 Jul, 2019 12:00am
Homemade food unhealthy for Nawaz, claims Gill

Homemade food unhealthy for Nawaz, claims Gill

Spokesman for Punjab Chief Minister, Shahbaz Gill on Tuesday said the provincial government has decided to provide diet food to ex-prime minister Nawaz Sharif at Kot Lakhpat Jail. The spokesman said Nawaz's food will be prepared as per report of the docto
Published 10 Jul, 2019 12:00am
CS for monitoring locusts attack in South Punjab

CS for monitoring locusts attack in South Punjab

Fearing locusts attack in the districts bordering Sindh and Balochistan, Chief Secretary Punjab Yousaf Naseem Khokhar on Tuesday directed the provincial authorities to enhance surveillance and ensure strict monitoring of the situation in south Punjab, esp
Published 10 Jul, 2019 12:00am
NLC holds workshop on hydropower potential in GB

NLC holds workshop on hydropower potential in GB

A three days National Workshop on Hydropower Potential in Gilgit-Baltistan (GB) was held at Karakoram International University. The workshop was organized by Applied Technologies Institute NLC (ATIN) in which senior officials of the provincial government,
Published 10 Jul, 2019 12:00am
LHC issues notice to jail doctor in ETPB ex-chief's bail plea

LHC issues notice to jail doctor in ETPB ex-chief's bail plea

The Lahore High Court on Tuesday issued notice to doctor of Kot Lakhpat jail for July 22 in response to a petition of former chairman Evacuee Trust Property Board (ETPB) Asif Hashmi seeking bail on medical grounds.
Published 10 Jul, 2019 12:00am
Partly Facetious : The Tape

Partly Facetious : The Tape

"Shahbaz Sharif is not that much of a walk over by his niece...is what I reckon."
Published 10 Jul, 2019 12:00am
PSIC Board approves Rs3898.936 million budget for 2019-20

PSIC Board approves Rs3898.936 million budget for 2019-20

The 105th Board meeting of The Punjab Small Industries Corporation (PSIC) on Tuesday accorded approval to its annual budget 2019-20 amounting to Rs3898.936 million. The meeting presided over by Punjab Minister for Trade and Industries, Mian Aslam Iqbal al
Published 10 Jul, 2019 12:00am
Withdrawal of zero-rating facility creates unrest: PHMA
Exchange

Withdrawal of zero-rating facility creates unrest: PHMA

Pakistan Hosiery Manufactures & Exporters Association (PHMA) has said that the withdrawal of zero-rating facility has created a fear among the value-added textile exporters that their refunds would start getting stuck from the current month, as the govern
Published 10 Jul, 2019 12:00am
JI Shoora terms PTI government's performance 'disappointing'

JI Shoora terms PTI government's performance 'disappointing'

The central Shoora of the Jamaat-e-Islami has termed PTI government's performance so far as totally disappointing and said that the failure of its economic, political, internal as well as foreign policies was a big national tragedy. A resolution adopted b
Published 10 Jul, 2019 12:00am
Kaira rules out possibility of martial law

Kaira rules out possibility of martial law

Pakistan Peoples Party (PPP) Punjab President Qamar Zaman Kaira said on Tuesday that there is no possibility of martial law because both the institutions and political parties have learnt their part of lessons. Despite the non-serious attitude of the gove
Published 10 Jul, 2019 12:00am
Shahbaz resents stoppage of homemade food to Nawaz

Shahbaz resents stoppage of homemade food to Nawaz

Taking strong notice of restriction on provision of homemade food to Nawaz Sharif in Kot Lakhpat prison, Pakistan Muslim League-Nawaz (PML-N) president and Opposition Leader in National Assembly Shahbaz Sharif Monday said that the government is doing inju
Published 10 Jul, 2019 12:00am
Minister pays surprise visit to cement factory in Chakwal

Minister pays surprise visit to cement factory in Chakwal

Punjab Minister for Environment Protection Muhammad Rizwan along with a team of the Environment Protection Department (EPD) on Tuesday conducted a surprise raid on a cement factory in Chakwal. The Minister inspected in detail different sections of the pla
Published 10 Jul, 2019 12:00am
HEU VC Dr Kanwal bags ASIS&T award

HEU VC Dr Kanwal bags ASIS&T award

The Association for Information Science & Technology (ASIS&T) has announced that Dr Kanwal Ameen is a 2019 recipient of the ASIS&T James M. Cretsos Leadership Award. The award's purpose is to recognize a new ASIS&T member who has demonstrated outstanding
Published 10 Jul, 2019 12:00am
New industrial policy to create 1.2 million jobs: Buzdar

New industrial policy to create 1.2 million jobs: Buzdar

Punjab government has identified human capital development as the single most important factor for increasing economic growth in the province and considered the provision of quality education, which also includes technical and vocational skills, as the pr
Published 10 Jul, 2019 12:00am
Domestic Workers Act to help control violence: minister

Domestic Workers Act to help control violence: minister

Punjab Minister for Labour & Human Resources Ansar Majeed Khan has said that the enforcement of Punjab Domestic Workers Act 2019 was a revolutionary step of present govt. which would provide social protection to the domestic workers.
Published 10 Jul, 2019 12:00am
Jewellers to observe strike on 13th

Jewellers to observe strike on 13th

Showing solidarity with the All Pakistan Anjuman-e-Tajran (APAT) on their strike call, the Lahore Division Sarafa and Jewelers Association (LDSJA) has also announced to observe a complete shutter down on July 13 against the imposition of 'unjustified' add
Published 10 Jul, 2019 12:00am
Atlas Battery Limited
Mutual Funds

Atlas Battery Limited

Part of the Atlas group, Atlas Battery (PSX: ATBA) started out as Shirazi Investments and is today a leading player in the auto parts and accessories sector specialising in the manufacturing of batteries for cars, motorcycles, heavy vehicles (tractors, bu
Published 10 Jul, 2019 12:00am
Atlas Battery Limited
Exchange

Atlas Battery Limited

Part of the Atlas group, Atlas Battery (PSX: ATBA) started out as Shirazi Investments and is today a leading player in the auto parts and accessories sector specialising in the manufacturing of batteries for cars, motorcycles, heavy vehicles (tractors, bu
Updated 10 Jul, 2019 07:21am
PTA blocks 1862 websites, fake accounts

PTA blocks 1862 websites, fake accounts

Pakistan Telecommunication Authority (PTA) has processed a total of 1,862 URLs/websites containing contents related to impersonation/fake accounts. In accordance with the Section 37 of Prevention of Electronic Crime Act (PECA), the PTA is empowered to blo
Published 10 Jul, 2019 12:00am
SCCI extends support to July 13 strike

SCCI extends support to July 13 strike

Sarhad Chamber of Commerce and Industry (SCCI) has rejected the imposition of new taxes, documentation for retailers and increase in price of daily use commodities in federal and provincial budget for fiscal year 2019-20 and announced to fully support the
Published 10 Jul, 2019 12:00am
Dr Ata calls on PM

Dr Ata calls on PM

Prime Minister Imran Khan was informed on Tuesday that there is a plan to establish six Centres of Excellence (CoE) in the proposed project of University of Engineering and Emerging Technologies to be set up in the PM House.
Published 10 Jul, 2019 12:00am
J.P Morgan cuts Venezuela debt from popular bond benchmarks

J.P Morgan cuts Venezuela debt from popular bond benchmarks

J.P Morgan will cut Venezuela's sovereign and state oil firm PDVSA's bonds to 'zero weight' in its widely-followed debt indexes over the next five months, the bank said on Tuesday, after US sanctions halted nearly all trading in them. The US investment ba
Published 10 Jul, 2019 12:00am
J.P Morgan cuts Venezuela debt from popular bond benchmarks

J.P Morgan cuts Venezuela debt from popular bond benchmarks

J.P Morgan will cut Venezuela's sovereign and state oil firm PDVSA's bonds to 'zero weight' in its widely-followed debt indexes over the next five months, the bank said on Tuesday, after US sanctions halted nearly all trading in them. The US investment ba
Published 10 Jul, 2019 12:00am
France to impose green tax on plane tickets

France to impose green tax on plane tickets

France announced Tuesday it would impose new taxes on plane tickets of up to 18 euros per flight, joining other EU states seeking to limit the environmental impact of air travel. The government said that the funds from tickets for flights originating in F
Published 10 Jul, 2019 12:00am
Egypt warns Turkey of 'escalation' over drilling off Cyprus

Egypt warns Turkey of 'escalation' over drilling off Cyprus

Egypt on Tuesday warned Turkey against escalating tensions in the eastern Mediterranean over its attempt to drill for oil and gas in the waters off Cyprus. A foreign ministry statement "stressed the importance of non-escalation and commitment to respectin
Published 10 Jul, 2019 12:00am
EU fines Hello Kitty owner for limiting online sales

EU fines Hello Kitty owner for limiting online sales

The EU's top anti-trust regulator on Wednesday fined Hello Kitty owner Sanrio 6.2 million euros ($6.9 million) for illegally blocking retailers from selling merchandise across bloc borders. "Consumers, whether they are buying a Hello Kitty mug or a Chococ
Published 10 Jul, 2019 12:00am
German transport, textiles sectors use short-hours facility most: Ifo

German transport, textiles sectors use short-hours facility most: Ifo

German producers of transport equipment and textiles are making the most use of a short-hours facility aimed at avoiding mass lay-offs as the manufacturing sector lingers in a recession, a survey by economic institute Ifo showed on Tuesday. It said that 3
Published 10 Jul, 2019 12:00am
White House economic advisor says Fed chief's job is safe

White House economic advisor says Fed chief's job is safe

Federal Reserve chief Jerome Powell's job at the head of the US central bank is safe, White House economic advisor Larry Kudlow said Tuesday. President Donald Trump has lambasted Powell repeatedly for raising interest rates, which he complains is undercut
Published 10 Jul, 2019 12:00am
Zimbabwe public workers reject $21 million pay rise

Zimbabwe public workers reject $21 million pay rise

Public sector workers in Zimbabwe on Tuesday rejected a government offer of 180 million Zimbabwe dollars ($21 million) in added pay for the July-December period as inadequate in the face of soaring inflation, a union official said. Zimbabweans are angry a
Published 10 Jul, 2019 12:00am
Indian tycoon Adani rejects Australian mine criticism

Indian tycoon Adani rejects Australian mine criticism

Indian billionaire Gautam Adani rejected criticism over the environmental impact of a huge coal mine planned by his company in Australia, saying renewables can't meet all his country's energy needs. Conservationists have condemned the Adani plan, saying i
Published 10 Jul, 2019 12:00am
West Africa wealth inequalities reaching extreme levels

West Africa wealth inequalities reaching extreme levels

West Africa suffers the most inequalities on the continent but many governments prefer to ignore problems despite economic growth, a report by Oxfam and Development Finance International said on Tuesday. According to the "West Africa Inequality Crisis" re
Published 10 Jul, 2019 12:00am
Boeing reports lower second quarter deliveries

Boeing reports lower second quarter deliveries

Boeing reported a sharp drop in second-quarter commercial plane deliveries on Tuesday as the grounding of 737 MAX planes weighs on profits. Boeing, which has halted deliveries of the top-selling plane since mid-March, reported 90 deliveries in the quarter
Published 10 Jul, 2019 12:00am
Boeing reports lower second quarter deliveries

Boeing reports lower second quarter deliveries

Boeing reported a sharp drop in second-quarter commercial plane deliveries on Tuesday as the grounding of 737 MAX planes weighs on profits. Boeing, which has halted deliveries of the top-selling plane since mid-March, reported 90 deliveries in the quarter
Published 10 Jul, 2019 12:00am
Malaysia holds rates

Malaysia holds rates

Malaysia's central bank kept its key interest rate at 3.00% on Tuesday, expressing confidence that domestic demand will support economic growth at a time trade tensions and slowing global expansion poses risks to it. All 11 economists polled by Reuters ex
Published 10 Jul, 2019 12:00am
Airbus to ask airlines to check wings of older A380s for cracks

Airbus to ask airlines to check wings of older A380s for cracks

European aircraft maker Airbus will ask airlines operating 25 of its oldest A380 super-jumbo jets to inspect their wings after cracks were found in some models, the EU's Aviation Safety Agency said. The EASA said in an airworthiness directive dated July 5
Published 10 Jul, 2019 12:00am
US puts Hezbollah lawmakers on sanctions blacklist for first time

US puts Hezbollah lawmakers on sanctions blacklist for first time

The US Treasury placed two Hezbollah members of Lebanon's parliament on its sanctions blacklist on Tuesday - the first time Washington has taken aim at the Iran-allied group's elected politicians. The Treasury named MPs Amin Sherri and Muhammad Hasan Raad
Published 10 Jul, 2019 12:00am
Sri Lanka court rejects Easter bomb murder charge against officials

Sri Lanka court rejects Easter bomb murder charge against officials

A Sri Lankan court Tuesday rejected prosecution demands that the country's police chief and a top defence official face murder charges for failing to prevent the Easter Sunday suicide bomb attacks. Police Inspector General Pujith Jayasundara and former de
Published 10 Jul, 2019 12:00am
Britain extends Mali mission by six months

Britain extends Mali mission by six months

Britain will extend its involvement in France's security mission in Mali and neighbouring countries by at least six more months, until June 2020, the defence ministry said Tuesday. Britain has been supporting French forces with three Chinook heavy-lift he
Published 10 Jul, 2019 12:00am
Netanyahu warns Israel's jets 'can reach' Iran

Netanyahu warns Israel's jets 'can reach' Iran

Prime Minister Benjamin Netanyahu warned Tuesday that Israel's fighter jets "can reach anywhere in the Middle East, including Iran," in his latest comments directed at his country's arch-foe. While visiting an air force base where he inspected F-35 jets m
Published 10 Jul, 2019 12:00am
Washington DC hit by torrential rain, flooding

Washington DC hit by torrential rain, flooding

Torrential rain lashed Washington DC and surrounding areas on Monday, flooding many neighborhoods and hobbling electricity and transportation networks. The National Weather Service issued a Flash Flood Warning as the storm hit, drowning roads and forcing
Published 10 Jul, 2019 12:00am
One dead in flash floods in Spain

One dead in flash floods in Spain

Firefighters in northern Spain found the body of a driver Tuesday whose car was swept away by flash floods which forced the closure of roads and disrupted trains. Torrential rain on Monday night damaged cars, garages, basements, attics, stores, roads and
Published 10 Jul, 2019 12:00am
Paris declares 'climate emergency'

Paris declares 'climate emergency'

Paris, which in 2015 hosted the signing of a historic agreement on fighting global warming, on Tuesday declared a climate emergency following similar moves by other cities and national parliaments. "Paris, like other cities, declares a climate emergency,"
Published 10 Jul, 2019 12:00am
Former Argentine president de la Rua dies

Former Argentine president de la Rua dies

Argentine former head of state Fernando de la Rua - who was famously evacuated by helicopter from the presidential palace during the 2001 economic crisis - died Tuesday in Buenos Aires at the age of 81. "I share in the pain of his family," said President
Published 10 Jul, 2019 12:00am
UK's Labour backs staying in EU in call for second referendum

UK's Labour backs staying in EU in call for second referendum

Britain's main opposition Labour party on Tuesday for the first time conditionally backed holding another Brexit referendum, in which it would support remaining in the European Union. Labour will now challenge whoever wins the Conservative Party leadershi
Published 10 Jul, 2019 12:00am
Sweden rejects Chinese embezzlement extradition request

Sweden rejects Chinese embezzlement extradition request

Sweden's top court on Tuesday rejected a Beijing extradition request for a Chinese man accused of economic crimes because of risks of persecution and the death penalty in China. Qiao Jianjun, a former official of the Chinese state grain administration, is
Published 10 Jul, 2019 12:00am
Europe's once biggest migrant centre closes in Italy

Europe's once biggest migrant centre closes in Italy

What was once Europe's biggest migrant reception centre, in Mineo in Sicily, officially closed on Tuesday in the presence of its biggest critic, far-right Interior Minister Matteo Salvini. "We're saving quite a bit of money, we're working to find new jobs
Published 10 Jul, 2019 12:00am
Greek conservative government sworn in

Greek conservative government sworn in

Greece's new conservative government was sworn in on Tuesday, a day after Prime Minister Kyriakos Mitsotakis took office vowing to turn the page on a decade of economic crisis. The 51 members of the new government swore the oath of office on the Bible in
Published 10 Jul, 2019 12:00am
Sister of Saudi crown prince tried in France over 'beaten workman'

Sister of Saudi crown prince tried in France over 'beaten workman'

A sister of the crown prince of Saudi Arabia went on trial Tuesday in a French court over the alleged beating of a workman who was carrying out repairs in her ultra-luxury Paris apartment. Hassa bint Salman is a daughter of King Salman and a sister of pow
Published 10 Jul, 2019 12:00am
Russian wheat prices fall on new-crop arrival

Russian wheat prices fall on new-crop arrival

Russian wheat prices fell last week on the arrival of the new crop and despite continuing risks to the harvest from the June heatwave, analysts said on Monday. Black Sea new-crop prices for wheat with 12.5% protein content were $193 a tonne free on board
Published 10 Jul, 2019 12:00am
Prices remain firm on cotton market
Cotton

Prices remain firm on cotton market

Prices maintained firm posture on the cotton market on Tuesday in the process of modest trading activity, dealers said. The official spot rate was unchanged at Rs 8300, they added. In ready session, around 5000 bales of cotton changed hands between Rs 840
Published 10 Jul, 2019 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 95,920 tonnes of cargo comprising 62,693 tonnes of import cargo and 33,227 tonnes of export cargo including 5,851 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargos of 62,
Published 10 Jul, 2019 12:00am
China's iron ore recovers as focus shifts to demand outlook
Exchange

China's iron ore recovers as focus shifts to demand outlook

Dalian iron ore on Monday recouped some of its losses late last week, buoyed by expectations of strong demand even as latest port stocks data in China showed an easing in supply tightness for the steelmaking raw material. Prices plummeted on Friday on new
Published 10 Jul, 2019 12:00am
Asia's naphtha crack hits 7-1/2-week high

Asia's naphtha crack hits 7-1/2-week high

Asia's naphtha crack hit a 7-1/2 week high on Monday at $36.85 a tonne, while gasoline margins rose for the sixth straight session to hit a 9-week high of $6.68 a barrel supported by production cuts. Shandong Dongming Petrochemical Group for instance will
Published 10 Jul, 2019 12:00am
French cereal crop hits by heatwave as harvest starts

French cereal crop hits by heatwave as harvest starts

The condition of French cereal crops declined sharply last week, farming agency FranceAgriMer said on Friday, suggesting a negative impact from a record-breaking heatwave in the European Union's biggest grain producer. Grain markets have been assessing th
Published 10 Jul, 2019 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Monday and halted a four-day skid, following US soyaoil higher. Contract lows reached by canola last week have left technical charts bearish, but canola prices are unlikely to fall much further unless the Canadian crop
Published 10 Jul, 2019 12:00am
Abundant rains to boost Ivory Coast cocoa crop

Abundant rains to boost Ivory Coast cocoa crop

Above-average rainfall mixed with sunshine in Ivory Coast's cocoa-growing regions last week could boost the forthcoming October-to-March main crop, farmers said on Monday. The April-to-September mid-crop in Ivory Coast, the world's top cocoa producer, is
Published 10 Jul, 2019 12:00am
CBOT wheat futures lower

CBOT wheat futures lower

Chicago Board of Trade (CBOT) wheat futures closed lower on Monday on technical selling and seasonal pressure from the ongoing US winter wheat harvest, traders said. CBOT September soft red winter wheat settled down 4 cents at $5.11 per bushel, dropping b
Published 10 Jul, 2019 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,956. The traded value of Metals, Energy and COTS/FX was recorded at PKR 10.686 billion and the number of lots traded 10,833.
Published 10 Jul, 2019 12:00am
South Africa's rand steadies

South Africa's rand steadies

South Africa's rand steadied against the dollar on Tuesday, struggling for momentum as investors awaited clues on US monetary policy from the Federal Reserve officials and domestic data. Stocks closed lower. At 1500 GMT the rand was trading at 14.1700 per
Published 10 Jul, 2019 12:00am
Sterling slides towards two-year low
Currency

Sterling slides towards two-year low

The British pound fell towards its lowest levels in more than two years on Tuesday against the backdrop of a worsening economic outlook and rising fears about a no-deal Brexit under a new Prime Minister. With a key $1.25 level against the dollar giving wa
Published 10 Jul, 2019 12:00am
Australian, New Zealand dollars remain weak

Australian, New Zealand dollars remain weak

The Australian and New Zealand dollars were pinned near key support levels on Tuesday as local economic news disappointed and markets reconsidered the need for drastic policy easing in the United States. The Aussie dollar had edged down to $0.6957 and thr
Published 10 Jul, 2019 12:00am
Asian currencies subdued against dollar

Asian currencies subdued against dollar

Asian currencies were subdued against the dollar on Tuesday as investors focused on US Federal Reserve Chairman Jerome Powell's testimony before Congress later this week for clues on monetary policy. Regional currencies weakened in the previous session af
Published 10 Jul, 2019 12:00am
Bitcoin near two-week highs
Exchange

Bitcoin near two-week highs

Bitcoin held on Tuesday near its highest for two weeks after surging as much as 9% overnight, a move analysts said was probably driven by hopes that cryptocurrencies are gaining wider acceptance after Facebook disclosed plans for a digital coin. Bitcoin t
Published 10 Jul, 2019 12:00am
Dollar hovers at three-week high in New York
Exchange

Dollar hovers at three-week high in New York

The dollar edged up on Monday, hovering at a three-week high, as it held onto gains after news of a stronger-than-expected increase in US jobs in June scaled back traders' expectations of a sharp Federal Reserve rate cut at the end of July. Traders await
Published 10 Jul, 2019 12:00am
Euro dips against stronger dollar in Europe
Currency

Euro dips against stronger dollar in Europe

The euro dipped below $1.12 to a three-week low against a stronger dollar on Tuesday as investors re-assessed their expectations of how much the Federal Reserve may cut interest rates by this month. The nomination of IMF Chairwoman Christine Lagarde as th
Published 10 Jul, 2019 12:00am
Dollar rises against peers in Asia
Exchange

Dollar rises against peers in Asia

The dollar traded near a three-week high against its peers on Tuesday, as investors pared bets on aggressive US interest rate cuts ahead of the Federal Reserve chairman's testimony to Congress on the economy. Sterling was pinned near a six-month low versu
Published 10 Jul, 2019 12:00am
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