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Print - 2019-12-02
Understatement of the rate of inflation
Articles

Understatement of the rate of inflation

Pakistan has been experiencing double-digit inflation after a gap of eight years. This has motivated the Pakistan Bureau of Statistics to change the base year of the Consumer Price Index (CPI) from 2007-08 to 2015-16 so as to be able to monitor inflationa
Updated 03 Dec, 2019 05:51am
Nigerian farmers hope to spread shea butter wealth

Nigerian farmers hope to spread shea butter wealth

Surrounded by four children, Ladi Usman scoops shea nut paste from a plastic container into a metal pot on the stove in her cramped kitchen. Squinting to keep charcoal fumes out of her eyes, she stirs it with a bamboo stick, completing the final stages of
Published 02 Dec, 2019 12:00am
Renowned Latvian conductor Mariss dies

Renowned Latvian conductor Mariss dies

Renowned Latvian maestro Mariss Jansons, who conducted some of the world's most prestigious orchestras, has died at his home in Saint Petersburg, Russian authorities said on Sunday. He was 76.
Published 02 Dec, 2019 12:00am
Trump faces two impeachment deadlines as inquiry shifts focus

Trump faces two impeachment deadlines as inquiry shifts focus

US President Donald Trump faced two deadlines in Congress on Sunday as Democrats prepared to shift the focus of their impeachment inquiry from fact-finding to the consideration of possible charges of misconduct over his dealings with Ukraine.
Published 02 Dec, 2019 12:00am
Futures spread down by 763bps
Stocks

Futures spread down by 763bps

The futures spread decreased by 763 basis points (bps) to 10.35 per cent at end of the last week down from 17.97 percent a week earlier.
Published 02 Dec, 2019 12:00am
Massive recovery witnessed
Stocks

Massive recovery witnessed

Sentiments at Pakistan Stock Exchange (PSX) were remained positive during the outgoing week ended on November 29, 2019.
Published 02 Dec, 2019 12:00am
Six European countries join barter system for Iran trade

Six European countries join barter system for Iran trade

Paris, London and Berlin on Saturday welcomed six new European countries to the INSTEX barter mechanism, which is designed to circumvent US sanctions against trade with Iran by avoiding use of the dollar.
Published 02 Dec, 2019 12:00am
Wheat support price: Centre rejects Punjab government's request

Wheat support price: Centre rejects Punjab government's request

The federal government has reportedly turned down Punjab government's proposal to freeze wheat support price at Rs 1300 / 40 kg as the raise in price would create unrest in the province, sources close to Minister for National Food Security and Research to
Published 02 Dec, 2019 12:00am
Marginal changes
Money & Banking

Marginal changes

The rupee showed minor changes against the dollar on the money market during the week, ended on Nov 30, 2019.
Published 02 Dec, 2019 12:00am
CPFTA-II phase comes into affect on December 1

CPFTA-II phase comes into affect on December 1

The second phase of China-Pakistan Free Trade Agreement (CPFTA) has come into the effect from today (Sunday) allowing the Pakistani manufacturers and traders to export around 313 new products on zero duty to the Chinese market.
Published 02 Dec, 2019 12:00am
Student unions: Comprehensive code of conduct needed: PM

Student unions: Comprehensive code of conduct needed: PM

Prime Minister Imran Khan on Sunday said that a comprehensive and enforceable code of conduct was needed before student unions were restored across the country. Taking to Twitter, he said that the government will establish a code of conduct which will be
Published 02 Dec, 2019 12:00am
Two soldiers injured on LoC

Two soldiers injured on LoC

Two soldiers were injured in an exchange of fire across the line of control (LoC) on Sunday, said Director General Inter-Services Public Relations (ISPR).
Published 02 Dec, 2019 12:00am
Qureshi underscores need for higher economic growth

Qureshi underscores need for higher economic growth

Federal Minister for Foreign Affairs, Shah Mehmood Qureshi on Sunday said that we have to convert the economic stability into growth to come up to the aspirations of the masses.
Published 02 Dec, 2019 12:00am
Mali leader appeals against hostility to foreign forces

Mali leader appeals against hostility to foreign forces

Mali's President Ibrahim Boubacar Keita has urged Malians not to "bite the hands" of nations giving aid, in a response to growing hostility to foreign forces helping the Sahel country battle Islamist militants.
Published 02 Dec, 2019 12:00am
PTI suspends membership of Hamid Khan

PTI suspends membership of Hamid Khan

Pakistan Tehreek-e-Insaf (PTI) on Sunday suspended the membership of its senior leader Hamid Khan and slapped him with a show-cause notice for speaking against the party policy.
Published 02 Dec, 2019 12:00am
Iran says may 'reconsider' atomic watchdog commitments

Iran says may 'reconsider' atomic watchdog commitments

Iran warned Sunday it may "seriously reconsider" its commitments to the UN atomic watchdog if European parties to a nuclear deal trigger a dispute mechanism that could lead to sanctions.
Published 02 Dec, 2019 12:00am
Whopping cotton production shortfall
Letters

Whopping cotton production shortfall

How ironic it is that a country whose economy's mainstay is agriculture is going to witness a whopping shortfall of cotton bales. According to a Business Recorder news item, the government has stated that there would be a shortfall of 7 million bal
Updated 02 Dec, 2019 04:50am
No clear flight plan for Alitalia after rescue stalls
Articles

No clear flight plan for Alitalia after rescue stalls

Efforts to save loss-making Alitalia have reached an impasse after months of unsuccessful negotiations with potential buyers, leaving Italy's government undecided on the next move. The struggling carrier, which has been under special administration since
Updated 02 Dec, 2019 06:33am
Intolerance without boundaries
Articles

Intolerance without boundaries

Intolerance does not have a religion; it is a state of mind and conduct existing in all countries and societies in different degrees. It is also a basic inhuman trait easily adopted by humans. Intolerance is supposed to be part of an extremist mindset. An
Updated 02 Dec, 2019 06:06am
CPEC: Good or bad for Pakistan?
Articles

CPEC: Good or bad for Pakistan?

Ambassador Alice Wells, a frequent visitor to Pakistan in her capacity as Deputy Assistant Secretary of State for South and Central Asia, made some remarks at the renowned Woodrow Wilson Center on China Pakistan Economic Corridor (CPEC) that were promptly
Updated 02 Dec, 2019 05:01am
High treason case

High treason case

The treason case filed against former COAS and President General Pervez Musharraf (retd) for imposing a state of emergency in 2007 and suspending the Constitution has dragged on without conclusion since 2013. In 2016, Musharraf was allowed to proceed abro
Updated 06 Dec, 2019 06:21am
Foreign inflows into T-bills

Foreign inflows into T-bills

The present government has been very exuberant about the sharp improvement in the balance of payments position of the country and a rise, however modest, in its foreign exchange reserves. While the government could take credit for this achievement due to
Updated 06 Dec, 2019 06:21am
SMEDA convenes ECDF meeting tomorrow
Business & Economy

SMEDA convenes ECDF meeting tomorrow

Small and Medium Enterprises Development Authority (SMEDA) has convened a meeting of the Economic Cooperation & Development Forum (ECDF) on Tuesday (tomorrow) to review findings of the thematic groups on challenges and opportunities for economic growth of
Published 02 Dec, 2019 12:00am
Government's policies steer country out of danger zone: Omer

Government's policies steer country out of danger zone: Omer

Federal Minister for Power Omer Ayub Khan Sunday said foreign investment trend is increasing day by day in Pakistan and economic situation is getting better day by day. He said this while addressing a public gathering after the inauguration of Sui gas pro
Published 02 Dec, 2019 12:00am
KP to spend Rs 1.10 billion for developing livestock sector
Commodities

KP to spend Rs 1.10 billion for developing livestock sector

The provincial government of Khyber Pakhtunkhwa has prepared four projects worth Rs1.10 billion for development of livestock sector to alleviate poverty and generate employment opportunities for the people of the tribal districts of the erstwhile FATA.
Published 02 Dec, 2019 12:00am
Ex-FPCCI VPs call for electing BMP panel
Business & Economy

Ex-FPCCI VPs call for electing BMP panel

Former vice presidents, Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Sultan Mohmand and Zafar Jalil Mastikhel have urged on the business community to vote for the panel of eminent industrialist/businessman, Mian Anjum Nisar in the annu
Published 02 Dec, 2019 12:00am
Qureshi to meet new Sri Lankan leadership

Qureshi to meet new Sri Lankan leadership

Foreign Minister Makhdoom Shah Mahmood Qureshi is scheduled to pay an official visit to Sri Lanka on 1-2 December 2019. While in Sri Lanka, the Foreign Minister will call on President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa and felicitate
Published 02 Dec, 2019 12:00am
Academic matters discussed at SU syndicate

Academic matters discussed at SU syndicate

The 200th meeting of the Syndicate of University of Sindh, Jamshoro was held to discuss and resolve matters relating to smooth conduct of business at the varsity. The meeting was presided over by SU Vice Chancellor Prof Dr Fateh Muhammad Burfat.
Published 02 Dec, 2019 12:00am
Prices of essential items slightly reduced

Prices of essential items slightly reduced

Prices of essential food commodities, including vegetable, live chicken/meat, sugar, flour and others have slightly decreased in local market, according to survey conducted by Business Recorder here on Sunday.
Published 02 Dec, 2019 12:00am
Appointment of CEC: Parliamentary panel meets tomorrow to avert crisis

Appointment of CEC: Parliamentary panel meets tomorrow to avert crisis

The parliamentary committee on appointment of Chief Election Commissioner (CEC) and members of Election Commission is set to meet on Tuesday to avert the crisis as chief election commissioner (CEC) is going to retire on December 6 and two members of the c
Published 02 Dec, 2019 12:00am
Engineering programmes: 890 awarded degrees at UET convocation

Engineering programmes: 890 awarded degrees at UET convocation

The 21st Convocation of University of Engineering and Technology, Peshawar, 2019 was held other day at the University of Peshawar to commemorate the academic accomplishments of students of engineering and technology of academic sessions of 2017-18 and 201
Published 02 Dec, 2019 12:00am
Probe into alleged victim of karo kari under way: Ghani

Probe into alleged victim of karo kari under way: Ghani

Sindh Minister for Information, Archives and Labour Saeed Ghani has said that Sindh government after taking prompt notice of an alleged incident in which an 11 years old girl was killed on the pretext of karo kari in a village of Johi town of district Dad
Published 02 Dec, 2019 12:00am
Pakistan Council concerned at increasing violence against Muslims

Pakistan Council concerned at increasing violence against Muslims

Pakistan Council of World Religions-Faith Friends, an organisation of people belonging to different religions, has expressed serious concern over the growing happenings of violence against Muslims in various countries and urged the United Nations to play
Published 02 Dec, 2019 12:00am
ATP to hold protest rallies against HR violations in IOK

ATP to hold protest rallies against HR violations in IOK

Amun Taraqqi Party (ATP) has announced to hold protest rallies and demonstrations against the growing human rights violations, clampdown and Indian forces atrocities in Indian Occupied Kashmir (IOK).
Published 02 Dec, 2019 12:00am
PRGMEA demands soft loans for upgrading units
Cotton & Textile

PRGMEA demands soft loans for upgrading units

Regional President of International Apparel Federation (IAF) and Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar has suggested that the government concentrate on providing soft loans to the exp
Published 02 Dec, 2019 12:00am
Opposition united for their vested interests: Buzdar

Opposition united for their vested interests: Buzdar

Blaming the previous rulers for causing "irreparable losses" to the national economy, Punjab Chief Minister Punjab Sardar Usman Buzdar has claimed that Prime Minister Imran Khan and his team have put the economy in right direction in a short span of time.
Published 02 Dec, 2019 12:00am
Need for ensuring rule of law stressed

Need for ensuring rule of law stressed

District Police Officer (DPO), Kohat, Wahid Mehmood on Sunday said that the concept of rule of law educates us in the virtues of abiding by the rules and regulations governing the society.
Published 02 Dec, 2019 12:00am
Rulers bring embarrassment to their 'backers': JI

Rulers bring embarrassment to their 'backers': JI

Jamaat-e-Islami chief Senator Sirajul Haq has said that the forces who backed the PTI to come to power feel embarrassment because of the non-serious attitude of the rulers to run the government affairs.
Published 02 Dec, 2019 12:00am
'Educating girls is a key to build economy'

'Educating girls is a key to build economy'

Educating girls is a key to build economy and overcoming social problems as Pakistan's future is bleak without girl's education, said Dr Maryam Noman chairperson Women Resource Centre of Sialkot Chamber of Commerce and Industry (SCCI). She expressed these
Published 02 Dec, 2019 12:00am
'165,000 suffering from HIV virus in Pakistan'

'165,000 suffering from HIV virus in Pakistan'

AIDS disease is getting alarming day by day and according to an estimate approximately 165,000 patients are suffering from HIV virus in Pakistan. On average 22,000 patients suffer from HIV annually in Pakistan.
Published 02 Dec, 2019 12:00am
Punjab CTD to set up 'special monitoring cell'

Punjab CTD to set up 'special monitoring cell'

Newly-appointed Punjab Inspector General Police (IGP) Dr Shoaib Dastgir has directed the Punjab Counter-Terrorism Department (CTD) to establish a 'special monitoring cell' with the assistance of Special Branch for the surveillance of extremist groups or o
Published 02 Dec, 2019 12:00am
Burglars hit East German secret police museum in Berlin

Burglars hit East German secret police museum in Berlin

Burglars broke into Berlin's Stasi Museum, which showcases items of East Germany's hated secret police, making off with collectible medals and gold jewellery, authorities said Sunday, days after a spectacular diamond heist in Dresden.
Published 02 Dec, 2019 12:00am
Mexico shootout leaves 21 dead

Mexico shootout leaves 21 dead

A shootout in Mexico near the US border between suspected drug traffickers and police left at least 21 dead, including four officers, officials said Sunday.
Published 02 Dec, 2019 12:00am
After US decision, Israel plans new Hebron settlement

After US decision, Israel plans new Hebron settlement

Israel's defence minister announced plans to build a new Jewish-only settlement in the heart of a flashpoint West Bank city on Sunday, weeks after the United States said it no longer considered such communities illegal.
Published 02 Dec, 2019 12:00am
Nearly 70 dead in Syria regime clashes with Idlib militants

Nearly 70 dead in Syria regime clashes with Idlib militants

Two days of clashes between regime forces and armed groups in Syria's last major opposition bastion have killed nearly 70 on both sides, undermining a months-long ceasefire agreement, a war monitor said Sunday.
Published 02 Dec, 2019 12:00am
Plane crash kills nine, injures three in South Dakota

Plane crash kills nine, injures three in South Dakota

A plane crash in the US state of South Dakota killed nine people, including two children, and injured three others on Saturday while a winter storm warning was in place, officials said.
Published 02 Dec, 2019 12:00am
EU leaders mark a decade of Lisbon Treaty amid calls for reform

EU leaders mark a decade of Lisbon Treaty amid calls for reform

European Union leaders on Sunday celebrated the 10th anniversary of the Lisbon Treaty, the union's legal cornerstone, amid calls to reform a bloc weakened over the past decade by economic and migration crises, rising euroscepticism and Brexit.
Published 02 Dec, 2019 12:00am
EU leadership takes office touting green ambition

EU leadership takes office touting green ambition

The EU's new leadership took office on Sunday, one month later then planned, promising a more united Europe that would be ready to face major challenges, especially fighting climate change.
Published 02 Dec, 2019 12:00am
Saudi Arabia takes over G20 presidency from Japan

Saudi Arabia takes over G20 presidency from Japan

Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record.
Published 02 Dec, 2019 12:00am
Markets advance on hopes of reduced Gulf tensions
Stocks

Markets advance on hopes of reduced Gulf tensions

All major Gulf stock markets closed higher on Sunday on hopes that a reported visit by Qatar's foreign minister to Riyadh would ease a rift between Gulf states. Qatar's foreign minister made an unannounced visit to Saudi Arabia, sources told Reuters on Th
Published 02 Dec, 2019 12:00am
Not much potential to unleash in FTSE
Stocks

Not much potential to unleash in FTSE

Limited growth is in store for London's blue-chip stocks index as Prime Minister Boris Johnson, who promises to "unleash Britain's potential" and "get Brexit done", is leading in polls for the election on Dec. 12, investors said.
Published 02 Dec, 2019 12:00am
Rio Tinto spends $749 million to expand Australia mine
Global Business Economy

Rio Tinto spends $749 million to expand Australia mine

Anglo-Australian mining giant Rio Tinto on Wednesday said it would invest US$749 million to expand production at one of its iron ore mines in Australia's remote Pilbara region.
Published 02 Dec, 2019 12:00am
Novartis to buy US medicines' firm for $9.7 billion
Global Business Economy

Novartis to buy US medicines' firm for $9.7 billion

Swiss pharmaceuticals giant Novartis announced over the weekend it would dish out $9.7 billion (8.8 billion euros) to acquire US firm Medicines Company, in a move aimed at boosting its cardiovascular treatment portfolio.
Published 02 Dec, 2019 12:00am
Gategroup to buy Lufthansa's catering business in Europe
Global Business Economy

Gategroup to buy Lufthansa's catering business in Europe

Lufthansa said on Tuesday it is selling the European operations of its catering division LSG to Switzerland's Gategroup, part of the German carrier's plans to focus on its airline business. Reuters had earlier reported that Gategroup was close to a deal t
Published 02 Dec, 2019 12:00am
Thousands of UK jobs at risk as E.ON breaks up Npower
Energy

Thousands of UK jobs at risk as E.ON breaks up Npower

German energy group E.ON plans a 500-million-pound ($642 million) break-up of the struggling British Npower division it inherited from Innogy, which a union said could put up to 4,500 jobs at risk.
Published 02 Dec, 2019 12:00am
Scotiabank profit slightly beats estimates
Money & Banking

Scotiabank profit slightly beats estimates

Bank of Nova Scotia, Canada's third-biggest lender, posted a 1.6% rise in quarterly profit on Tuesday, slightly exceeding expectations as loan and deposit growth and international earnings offset falling margins and higher credit provisions.
Published 02 Dec, 2019 12:00am
Xiaomi growth slows in third quarter
Telecommunication

Xiaomi growth slows in third quarter

Chinese smartphone maker Xiaomi Corp posted its slowest-ever quarterly revenue growth as the country's smartphone market grapples with a protracted lull in sales and larger rival Huawei increases its share of the market.
Published 02 Dec, 2019 12:00am
AirAsia swings to net loss as FX fluctuations bite
Global Business Economy

AirAsia swings to net loss as FX fluctuations bite

Malaysia's flagship budget airline AirAsia Group Bhd flipped to a loss in its third-quarter, hit by foreign exchange losses and a writedown in the value of currency and interest rate swaps.
Published 02 Dec, 2019 12:00am
Lone Star in exclusive talks to buy BASF's chemicals unit
Global Business Economy

Lone Star in exclusive talks to buy BASF's chemicals unit

Lone Star has entered exclusive negotiations to buy BASF's construction chemicals business as the German chemicals company seeks to focus on more profitable operations, people close to the matter said.
Published 02 Dec, 2019 12:00am
Uber loses London licence due to safety risks
Global Business Economy

Uber loses London licence due to safety risks

London's transport authority on Monday refused to renew an operating licence for ride-hailing giant Uber - and blamed "unacceptable" safety risks for passengers. "Transport for London (TfL) has concluded that it will not grant Uber London Limited (Uber) a
Published 02 Dec, 2019 12:00am
Big four auditors face investor calls for tougher climate scrutiny
Global Business Economy

Big four auditors face investor calls for tougher climate scrutiny

European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis.
Published 02 Dec, 2019 12:00am
Measles claims 5,000 lives in DR Congo this year: WHO

Measles claims 5,000 lives in DR Congo this year: WHO

Measles has killed more than 5,000 people in the Democratic Republic of Congo since January - more than double the toll in the country's Ebola epidemic - the World Health Organization said on Wednesday. "The DRC (measles) outbreak is the largest outbreak
Published 02 Dec, 2019 12:00am
Greenhouse gas levels in atmosphere hit new high in 2018: UN

Greenhouse gas levels in atmosphere hit new high in 2018: UN

Greenhouse gases levels in the atmosphere, the main driver of climate change, hit a record high last year, the UN said Monday, calling for action to safeguard "the future welfare of mankind". "There is no sign of a slowdown, let alone a decline, in greenh
Published 02 Dec, 2019 12:00am
Slash emissions or face climate disaster, UN warns

Slash emissions or face climate disaster, UN warns

The world will miss its chance to avert climate disaster without an immediate and all-but-impossible fall in fossil fuel emissions, the UN said on Tuesday in its annual assessment on greenhouse gases. The United Nations Environment Programme said that glo
Published 02 Dec, 2019 12:00am
Grocery deliveries go high-tech in New York
Global Business Economy

Grocery deliveries go high-tech in New York

In New York, a city famous for always being on the go, grocery shopping can be time consuming. But grocery company FreshDirect promises to deliver within mere hours fruit, fish and bottles of water ordered online, and it relies on its high-tech Bronx ware
Published 02 Dec, 2019 12:00am
China bans 'fake news' created with AI, VRT
IT & Computers

China bans 'fake news' created with AI, VRT

China has issued new rules banning online video and audio providers from using artificial intelligence (AI) and virtual reality technologies to produce "fake news." The regulation published Friday by China's cyberspace authority said that both providers a
Published 02 Dec, 2019 12:00am
Web inventor launches plan to stop internet abuse
IT & Computers

Web inventor launches plan to stop internet abuse

World Wide Web inventor Tim Berners-Lee on Monday unveiled a "Contract for the Web" to halt "misuse" by governments, companies and individuals, bringing several capitals and tech titans like Google aboard.
Published 02 Dec, 2019 12:00am
Facebook buys maker of hit VR game 'Beat Saber'
IT & Computers

Facebook buys maker of hit VR game 'Beat Saber'

Facebook-owned Oculus on Tuesday said it is buying the studio behind hit virtual reality game "Beat Saber" as it looks to expand VR technology to wider audiences. Oculus, which makes Rift and Quest VR headgear, did not disclose financial terms of the deal
Published 02 Dec, 2019 12:00am
Guangzhou reclaim Chinese title
Other

Guangzhou reclaim Chinese title

Guangzhou Evergrande clinched an eighth Chinese Super League title in nine seasons as Fabio Cannavaro's side beat Shanghai Shenhua 3-0 on Sunday to reclaim the trophy 12 months after surrendering it to Shanghai SIPG.
Updated 02 Dec, 2019 11:30pm
Hamilton wraps up season with 'master-class' in Abu Dhabi
Other

Hamilton wraps up season with 'master-class' in Abu Dhabi

Lewis Hamilton delivered sumptuous confirmation of his title-winning supremacy on Sunday when he claimed his 84th career victory and 11th in 21 races this year by dominating the season-ending 'twilight' Abu Dhabi Grand Prix.
Published 02 Dec, 2019 12:00am
Pakistan fight to avoid defeat
Cricket

Pakistan fight to avoid defeat

Pakistan was battling to stave off defeat in the day-night second Test against a relentless Australia on Sunday after being forced to follow on, with Tim Paine's men needing seven wickets to clinch the series 2-0.
Published 02 Dec, 2019 12:00am
Root survives with his ton as New Zealand make inroads
Cricket

Root survives with his ton as New Zealand make inroads

New Zealand struck crucial blows late on day three of the second Test to have England in trouble despite centuries from Joe Root and Rory Burns in Hamilton on Sunday. England captain Root ended his run drought with an unbeaten 114 while Burns survived on
Published 02 Dec, 2019 12:00am