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Nov 21, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2019-11-06
ABAD Chairman warns of illegal, substandard constructions

ABAD Chairman warns of illegal, substandard constructions

Mohsin Sheikhani, Chairman Association of Builders and Developers of Pakistan (ABAD) has warned that one million people's lives are at stake due to illegal and sub-standard constructions being carried out by unscrupulous elements in contravention of rules
Published 06 Nov, 2019 12:00am
SECP launches Startup Portal to encourage tech innovation
Stocks

SECP launches Startup Portal to encourage tech innovation

The Securities and Exchange Commission of Pakistan (SECP) has launched an exclusive Startup portal to encourage technology innovation in Pakistan. SECP Commissioner for Information System and Technology Department, Shauzeb Ali inaugurated the portal durin
Published 06 Nov, 2019 12:00am
Government side struggles to discover 'middle ground'

Government side struggles to discover 'middle ground'

The government negotiating team on Tuesday discussed a proposal of midterm elections after electoral reforms with Rahbar Committee of the opposition political parties, as the two sides agreed to continue talks till the current political standoff arose out
Published 06 Nov, 2019 12:00am
Fazl accuses government of 'damaging' Chinese investment

Fazl accuses government of 'damaging' Chinese investment

Jamiat Uleam-e-Islam-Fazl (JUI-F) Emir Maulana Fazlur Rehman on Tuesday accused Pakistan Tehreek-e-Insaf (PTI) government of "damaging" billions of dollars Chinese investment made through China-Pakistan Economic Corridor (CPEC).
Published 06 Nov, 2019 12:00am
Yemen government, southern separatists sign power-sharing deal

Yemen government, southern separatists sign power-sharing deal

Yemen's internationally recognised government signed a power-sharing deal with southern separatists Tuesday, in a Saudi-brokered initiative to end a conflict simmering within the country's civil war. Unrest in the south, which saw secessionist forces seiz
Published 06 Nov, 2019 12:00am
PM gives roadmap

PM gives roadmap

Prime Minister Imran Khan on Tuesday said that all indicators of the economy are on positive trajectory despite protests of opposition parties, and also assigned targets to various ministries for the next three months. Briefing media persons on cabinet me
Published 06 Nov, 2019 12:00am
Government-IMF talks to focus on 3 key areas

Government-IMF talks to focus on 3 key areas

The policy level discussion, which began on Tuesday between Pakistan and the visiting International Monetary Fund (IMF) Mission, would focus on revenue collection, circular debt and privatization process.
Published 06 Nov, 2019 12:00am
Country's economy: Government paints a happy picture

Country's economy: Government paints a happy picture

Minister for Economic Affairs Hammad Azhar has said that better economic policies of Pakistan Tehreek-e-Insaf (PTI) government have started bearing fruit with decrease in current account and fiscal deficits and increase in foreign direct investment, reven
Published 06 Nov, 2019 12:00am
Nepra approves Rs 1.82/unit hike in power tariff

Nepra approves Rs 1.82/unit hike in power tariff

The National Electric Power Regulatory Authority (Nepra) on Tuesday approved Rs 1.82 per unit hike in power tariff for the month of September under monthly fuel adjustment formula.
Published 06 Nov, 2019 12:00am
ASEAN parliamentarians term Kashmir dispute as global issue

ASEAN parliamentarians term Kashmir dispute as global issue

The ASEAN parliamentarians have termed Kashmir dispute a global issue and have assured to raise the predicament of Kashmiris at international and regional forums till its resolution. They condemned the Indian oppression against innocent Kashmiris deprivin
Published 06 Nov, 2019 12:00am
Rental power: Out-of-court settlement occurs

Rental power: Out-of-court settlement occurs

Pakistan has reportedly agreed to pay upto $ 165 million to Turkish company M/s Karkey Karaddeniz Electric Uretim for out of court settlement and wind up the case in National Accountability Bureau (NAB), well-informed sources told Business Recorder </i
Published 06 Nov, 2019 12:00am
FBR restructuring after taking stakeholders' nod: Shabbar

FBR restructuring after taking stakeholders' nod: Shabbar

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi said on Tuesday that restructuring/transformation of FBR will be undertaken after taking into account feedback of all the stakeholders, including Inland Revenue Service and Pakistan Customs Service.
Published 06 Nov, 2019 12:00am
Cotton output may fall by 6m bales

Cotton output may fall by 6m bales

The country's cotton crop production is estimated to decrease by 6 million bales or 32 percent against the target, causing a loss of more than 2 percent of the GDP to the economy for 2019-20.
Updated 06 Nov, 2019 11:14pm
Rs 80 billion refunds stuck, claim APTMA, KCA

Rs 80 billion refunds stuck, claim APTMA, KCA

Around Rs 80 billion sales tax refunds of textile industry have been stuck due to complicated refund procedure, the representatives of All Pakistan Textile Mills Association (APTMA) and Karachi Cotton Association (KCA) said.
Updated 06 Nov, 2019 11:14pm
Navy test-fires anti-ship missile 'Zarb'

Navy test-fires anti-ship missile 'Zarb'

Pakistan Navy test fired land based anti-ship missile 'Zarb' as part of a training exercise from the coastal region. The missile successfully followed its preplanned trajectory and accurately engaged the target at sea. Chief of the Naval Staff, Admiral Za
Published 06 Nov, 2019 12:00am
Contempt notice: Firdous asked to submit affidavit

Contempt notice: Firdous asked to submit affidavit

The Islamabad High Court on Tuesday gave Special Advisor to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan time till Nov 9 to submit a written explanation on why she should not be convicted for committing contempt of court.
Published 06 Nov, 2019 12:00am
Fazl struggling to preserve reputation, credibility
Letters

Fazl struggling to preserve reputation, credibility

Maulana Fazlur Rahman has accused Imran Khan of taking power last year with the help of the military. Not only has Imran denied the accusations, the army has also rejected such allegations quite strongly. It was only on Monday that the army put its entire
Published 06 Nov, 2019 12:00am
European factories at risk in Peugeot-Fiat merger
Articles

European factories at risk in Peugeot-Fiat merger

Fiat Chrysler and Peugeot owner PSA's pledge not to close factories if they merge is likely to come under heavy strain as the combined group would have spare production capacity of almost six million vehicles in a slowing autos market.
Published 06 Nov, 2019 12:00am
Saudis scramble to raise cash for Aramco share sale
Articles

Saudis scramble to raise cash for Aramco share sale

From tapping lenders to selling personal assets, Saudis are scrambling to raise cash to invest in Aramco stocks after the oil giant announced its blockbuster market debut even as it offered few listing details. After years of delay and false starts, the s
Published 06 Nov, 2019 12:00am
Promoting culture of political integrity
Articles

Promoting culture of political integrity

What happens when a politician writing a law on garbage disposal happens to own shares in a company that specializes in disposing of garbage? Or, if that company has donated millions to the ruling party's election campaign? Or, if it has paid lobbyists to
Published 06 Nov, 2019 12:00am
Playing by the rules

Playing by the rules

Ever since JUI-F chief Maulana Fazlur Rahman began his 'Azadi March' and a sit-in demanding Prime Minister Imran Khan's resignation, the army has unnecessarily been made part of the political conversation. First, trying to figure out what made the Maulana
Updated 06 Nov, 2019 06:35am
Issues in housing finance

Issues in housing finance

There have always been complaints about the low level of borrowings in the housing sector despite efforts by various governments to incentivize banks to promote lending in this sector. The present government has gone a step further and announced the provi
Updated 06 Nov, 2019 06:16am
NDU war course team calls on Sindh CM

NDU war course team calls on Sindh CM

A delegation comprising 230 participants of National Security and War(NDU) Course 2020, led by the Chief Instructor NDU, Major General Inayat Hussain was welcomed at CM's House. The Chief Minister, Sindh welcomed the participants, sharing the unique herit
Published 06 Nov, 2019 12:00am
Train inferno: Senate body moot turns into in-camera session

Train inferno: Senate body moot turns into in-camera session

A meeting of the Senate Standing Committee on Railways was abruptly converted into an in camera meeting when Secretary/Chairman Pakistan Railways Sikandar Sultan Raja expressed displeasure over federal inspector of railways' briefing on a recently train a
Published 06 Nov, 2019 12:00am
US State department's report on terrorism termed disappointing

US State department's report on terrorism termed disappointing

Pakistan expressed its disappointment over the assertions made in the US State Department's report on terrorism, asserting that the report completely overlooks the factual situation on the ground and the country's tremendous contribution over the last two
Published 06 Nov, 2019 12:00am
Diplomatic row resurfaces between Pakistan and Afghanistan

Diplomatic row resurfaces between Pakistan and Afghanistan

The diplomatic row between Pakistan and Afghanistan has resurfaced with Kabul expressing its "severe objection and deepest concern over the summoning' of its ambassador by "Inter-Service Intelligence (ISI) and the misconduct" and Islamabad rejecting the a
Published 06 Nov, 2019 12:00am
Maha poses no threat to coastal area

Maha poses no threat to coastal area

There was no threat to any coastal area of the country from the Extremely Severe Cyclonic Storm (ESCS) "Maha" however, fishermen were advised not to venture in deep sea till November 6, said an advisory of Pakistan Meteorological Department (PMD) on Tuesd
Published 06 Nov, 2019 12:00am
CM approves appointment secy PPS & PCC

CM approves appointment secy PPS & PCC

Sindh Chief Minister Syed Murad Ali Shah while presiding over the first meeting of Provincial Public Safety & Police Complaints Commission (PPS&PCC), established under Police Order 220, has approved appointment of Secretary Commission and also issued dire
Published 06 Nov, 2019 12:00am
GIDC, levy, collection & recovery rules, 2019 await cabinet's nod
Energy

GIDC, levy, collection & recovery rules, 2019 await cabinet's nod

The federal government has framed Gas Infrastructure Development Cess (GIDC), levy, collection and recovery rules, 2019, to be implemented, after the approval from the federal cabinet, well informed sources told Business Recorder.
Updated 06 Nov, 2019 06:46am
Siraj slams government for relying on presidential ordinances

Siraj slams government for relying on presidential ordinances

Lambasting the Pakistan Tehreek-e-Insaf (PTI) government for bypassing the Parliament and relying on presidential ordinances for legislation, Emir Jamaat-e-Islami (JI) Sirajul Haq on Tuesday said that Prime Minister Imran Khan is behaving like a civilian
Published 06 Nov, 2019 12:00am
Alvi urges Swiss companies to invest in profitable energy projects
Energy

Alvi urges Swiss companies to invest in profitable energy projects

President Dr Arif Alvi on Tuesday emphasised that the energy demand in Pakistan had created highly profitable opportunities for the Swiss companies to invest in the renewable, hydel and clean technology power generation projects.
Published 06 Nov, 2019 12:00am
Three suspects killed in Quetta

Three suspects killed in Quetta

Security forces foiled a bid of terror and killed three suspects and seized a huge quantity of explosive materials and other ammunitions from their possession at Aghbark area of Quetta on Tuesday.
Published 06 Nov, 2019 12:00am
Condition of CNIC: SAI for progressive raise in ST's rate
Taxes

Condition of CNIC: SAI for progressive raise in ST's rate

Chairman of Taxation Committee of SITE Association of Industry (SAI), Saud Mehmood has suggested that input tax inadmissibility against sales made without CNIC be replaced with progressive increase in rate of further sales tax. He proposed new formula to
Updated 06 Nov, 2019 06:43am
Illegal appointment: NAB summons OGDCL officials today

Illegal appointment: NAB summons OGDCL officials today

National Accountability Bureau (NAB) has summoned managing director (MD) of Oil and Gas Development Company (OGDCL) and its board members in illegal appointment at executive management level in the OGDCL case.
Published 06 Nov, 2019 12:00am
K-Electric's 108th AGM held
Energy

K-Electric's 108th AGM held

K-Electric (KE) held its 108th Annual General Meeting (AGM) - FY 2018, at a local hotel in Karachi. The meeting was chaired by Ikram Sehgal, Chairman KE Board, with Moonis Alvi, CEO K-Electric also in attendance, along with Aamir Ghaziani, CFO; Rizwan Dal
Published 06 Nov, 2019 12:00am
Significant progress made on ML-1 project: minister
Business & Economy

Significant progress made on ML-1 project: minister

Federal Minister for Planning, Development and Reform Khusro Bakhtyar has said that significant progress has been made on ML-1 project of Pakistan Railways of $ 9 billion and it has been decided to speed up work on it to launch groundbreaking in the next
Published 06 Nov, 2019 12:00am
'Weaving City' planned for Faisalabad

'Weaving City' planned for Faisalabad

The public-private partnership (PPP) policy and monitoring board in its maiden meeting held here on Tuesday with Punjab chief minister Sardar Usman Buzdar in the chair, accorded approval for the implementation on mega projects and appointment of Dr Muhamm
Published 06 Nov, 2019 12:00am
Diamer Bhasha, Mohmand dams' construction to start soon: Wapda chief

Diamer Bhasha, Mohmand dams' construction to start soon: Wapda chief

The Pakistan Water and Power Development Authority (Wapda) Chairman Lt-Gen Muzammil Hussain (retd) said that Wapda is committed to constructing Mohmand and Diamer Basha dams as early as possible. Expressing satisfaction over the pace of development on Moh
Published 06 Nov, 2019 12:00am
Guru Nanak paid rich tributes

Guru Nanak paid rich tributes

Speakers at a seminar held at the Lahore Arts Council on Tuesday paid rich tributes to late Sufi saint Baba Guru Nanak and highlighted his thoughts, wisdom and history.
Published 06 Nov, 2019 12:00am
Governor slams opposition's attempt to malign army

Governor slams opposition's attempt to malign army

Governor Punjab Chaudhry Mohammad Sarwar on Tuesday said that opposition's attempt to make Pak Army controversial for achieving political interests was against the national security and solidarity.
Published 06 Nov, 2019 12:00am
Punjab cabinet okays amendments to LG Act 2019

Punjab cabinet okays amendments to LG Act 2019

The Punjab Cabinet on Tuesday approved amendments in Punjab Local Government Act 2019, under which taking part in local bodies' elections will only be permitted through political party or electoral panel.
Published 06 Nov, 2019 12:00am
FCIBL holds corporate briefing session
Money & Banking

FCIBL holds corporate briefing session

First Credit and Investment Bank Ltd (FCIBL) held an informative corporate briefing session for investors and analysts at the auditorium of the Pakistan Institute of International Affairs, Karachi on October 25, 2019.
Updated 06 Nov, 2019 06:44am
Visa introduces suite to help prevent payment fraud

Visa introduces suite to help prevent payment fraud

Visa launched a suite of innovative security capabilities to help prevent and disrupt payment fraud, breaking new ground in cyber security and fraud prevention across Central & Eastern Europe, Middle East and Africa (CEMEA) at the Visa CEMEA Security Summ
Published 06 Nov, 2019 12:00am
Siddiqsons Tin Plate Limited
Brief Recordings

Siddiqsons Tin Plate Limited

Siddiqsons Tin Plate Limited (PSX: STPL) was incorporated in Pakistan on January 1996 as public company limited under the now repealed Companies Ordinance, 1984.
Updated 06 Nov, 2019 06:20am
Iran says to resume enrichment

Iran says to resume enrichment

President Hassan Rouhani said Tuesday that Iran would resume uranium enrichment at an underground plant south of Tehran in its latest step back from a troubled 2015 agreement with major powers. The suspension of all enrichment at the Fordow plant in the m
Published 06 Nov, 2019 12:00am
Strong 6.0 earthquake strikes Chile

Strong 6.0 earthquake strikes Chile

A strong 6.0-magnitude earthquake shook Chile on Monday, rattling buildings in the capital while a big anti-government demonstration was under way.
Published 06 Nov, 2019 12:00am
Turkey, Russia carry out new joint patrol in Syria

Turkey, Russia carry out new joint patrol in Syria

Turkish and Russian forces carried out another joint patrol in northern Syria on Tuesday, while President Recep Tayyip Erdogan said Kurdish militants had yet to completely withdraw from the region. "The second joint patrol... began in the region of Ayn al
Published 06 Nov, 2019 12:00am
Mounting toll in Iraq protests as internet cut again

Mounting toll in Iraq protests as internet cut again

A mounting death toll in Baghdad and across southern Iraq coupled with renewed internet restrictions sparked fears Tuesday that anti-government protests would once again trigger chaos.
Published 06 Nov, 2019 12:00am
Facebook steps up monitoring for Taiwan elections
IT & Computers

Facebook steps up monitoring for Taiwan elections

Facebook vowed Tuesday to step up monitoring for any attempt to use its platform to meddle in Taiwan's elections as the island's authorities say they face growing interference from China.
Published 06 Nov, 2019 12:00am
Social media disinformation, surveillance growing

Social media disinformation, surveillance growing

Governments around the world are increasingly using social media to manipulate elections and monitor their citizens, in a worrisome trend for democracy, a human rights watchdog said Tuesday.
Updated 06 Nov, 2019 06:37am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,335.
Published 06 Nov, 2019 12:00am
Canadian canola futures rise
Commodities

Canadian canola futures rise

ICE Canadian canola futures rose on Monday, boosted by stronger US soyaoil prices. Canola crushers are buying canola futures and selling soyaoil and soy meal futures to lock in profitable crush margins, Exceed Grain Marketing analyst Wayne Palmer said.
Published 06 Nov, 2019 12:00am
Euronext wheat futures fall to 4-week low
Commodities

Euronext wheat futures fall to 4-week low

Euronext wheat fell to a near four-week low on a drop in Chicago futures and a pause in a Russian price rally, although physical premiums in France and Germany held steady with traders upbeat about exports. December milling wheat, the most active position
Published 06 Nov, 2019 12:00am
China's iron ore futures edge down
Commodities

China's iron ore futures edge down

Iron ore futures in China, the world's top consumer of the steelmaking raw material, and in Singapore edged down on Monday after miner Vale SA got approval to resume activities at a major mine in Brazil.
Published 06 Nov, 2019 12:00am
Activities at Karachi and Qasim Ports
Business & Economy

Activities at Karachi and Qasim Ports

The Karachi Port handled 91,142 tonnes of cargo comprising 66,744 tonnes of import cargo and 24,398 tonnes of export cargo including 3,404 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 06 Nov, 2019 12:00am
CBOT soyabean futures higher on US-China trade hopes
Commodities

CBOT soyabean futures higher on US-China trade hopes

Chicago Board of Trade (CBOT) soyabean futures edged higher on Monday on renewed hopes of progress in US-China trade talks and spillover support from rising soyaoil prices, which rallied along with the crude oil market, traders said.
Published 06 Nov, 2019 12:00am
Dollar up against yen in Asia
Money & Banking

Dollar up against yen in Asia

The US dollar advanced against the yen on Tuesday thanks to growing optimism the United States and China are on the verge of reaching a preliminary agreement to scale back their bruising trade war.
Published 06 Nov, 2019 12:00am
Trade-oriented units surge in Europe
Money & Banking

Trade-oriented units surge in Europe

Trade-oriented currencies including the Australian dollar surged on Tuesday, with the Chinese currency poised for its biggest daily jump in nearly three months on increasing signs that Beijing and Washington are inching closer to a trade deal.
Updated 06 Nov, 2019 06:54am
Dollar rises across the board in New York
Money & Banking

Dollar rises across the board in New York

The dollar rose on Monday, after five straight days of losses, with investors more guarded despite increased risk appetite that pushed US stocks and Treasury yields higher on hopes of a US-China trade deal.
Updated 06 Nov, 2019 06:54am
Aussie, kiwi inch up
Money & Banking

Aussie, kiwi inch up

The Australian and New Zealand dollars edged higher on Tuesday amid some signs of progress in the Sino-US trade talks while the Aussie got a small lift as the country's central bank skipped a chance to cut interest rates.
Published 06 Nov, 2019 12:00am
Asian forex: Chinese yuan, peso lead gains
Money & Banking

Asian forex: Chinese yuan, peso lead gains

Asian currencies pulled ahead slightly on Tuesday as growing signs of progress in Sino-US trade talks raised hopes of an imminent preliminary deal in a long-running tariff dispute that has whipsawed financial markets over the past year.
Published 06 Nov, 2019 12:00am
Sterling stays rangebound
Money & Banking

Sterling stays rangebound

The British pound drifted higher against the euro on Tuesday but stayed within recent trading ranges after survey data showed Britain's services sector stagnated last month due to concerns about Brexit.
Published 06 Nov, 2019 12:00am
PCF to boycott National Games
Other

PCF to boycott National Games

Pakistan Cycling Federation (PCF) termed cycling event in the upcoming 33rd National games as illegal and announced to boycott it.
Published 06 Nov, 2019 12:00am
Finch named as Northern Superchargers skipper
Cricket

Finch named as Northern Superchargers skipper

Australia's One Day International captain Aaron Finch is to be skipper of The Northern Superchargers for the inaugural edition of The Hundred, the franchise announced on Tuesday.
Published 06 Nov, 2019 12:00am
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