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Print - 2019-12-06
COAS visits strike corps near Bahawalpur

COAS visits strike corps near Bahawalpur

Chief of Army Staff (COAS) General Qamar Javed Bajwa Thursday visited strike corps during its winter collective training near Bahawalpur and witnessed training exercise for conduct of trans-frontier offensive operations.
Published 06 Dec, 2019 12:00am
TIP under the spotlight

TIP under the spotlight

A high-level committee headed by Prime Minister's Advisor on Commerce, Textile, Industries and Production and Investment is to evaluate prospects of privatisation of Telephone Industry of Pakistan (TIP), well-informed sources told Business Recorder.</i
Published 06 Dec, 2019 12:00am
Bond redemption: Payments made to exporters

Bond redemption: Payments made to exporters

The Federal Board of Revenue (FBR) on Thursday disbursed payments to exporters/bond holders by redeeming bonds issued to refund claimants.
Published 06 Dec, 2019 12:00am
SBP's reserves improve

SBP's reserves improve

The State Bank of Pakistan's foreign exchange reserves moved up by $1.8 billion during first five months (July-Nov) of FY20.
Published 06 Dec, 2019 12:00am
SDV data compilation: DPC issues 'SRF' for banks

SDV data compilation: DPC issues 'SRF' for banks

The Deposit Protection Corporation (DPC) has issued a Standardized Report Format (SRF) to enable banks to compile "Single Depositor View (SDV)" data as per requirements of reimbursement.
Published 06 Dec, 2019 12:00am
Government steps up pressure on Shahbaz

Government steps up pressure on Shahbaz

Special Assistant to the Prime Minister on Accountability Shahzad Akbar Thursday accused Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif of using Chief Minister's (CM's) Secretariat for carrying out 'criminal' activities.
Published 06 Dec, 2019 12:00am
Shahbaz writes another letter to PM

Shahbaz writes another letter to PM

Leader of the Opposition in the National Assembly Shahbaz Sharif has written another letter to Prime Minister Imran Khan for the appointment of the Chief Election Commissioner immediately.
Published 06 Dec, 2019 12:00am
PM makes 3 nominations for CEC appointment

PM makes 3 nominations for CEC appointment

Prime Minister Imran Khan on Thursday made three nominations for the appointment of the chief election commissioner as CEC former Justice Sardar Muhammad Raza reached the age of superannuation the same day, a development that has left the Election Commiss
Published 06 Dec, 2019 12:00am
Government, opposition given 10 days to resolve ECP issue

Government, opposition given 10 days to resolve ECP issue

The Islamabad High Court (IHC) on Thursday granted ten days to the government and opposition to resolve the issue of appointment of chief election commissioner (CEC) and two members of Election Commission of Pakistan (ECP).
Published 06 Dec, 2019 12:00am
Over half a million march as France paralysed by strike

Over half a million march as France paralysed by strike

A nationwide strike brought much of France to a standstill on Thursday to protest the government's planned overhaul of the pension system, one of President Emmanuel Macron most ambitious reforms.
Published 06 Dec, 2019 12:00am
WB, PSX and PBC to work on SDGs strategy
Stocks

WB, PSX and PBC to work on SDGs strategy

Representatives of the World Bank, United Nations Development Programme, Pakistan Business Council (PBC) and Pakistan Stock Exchange (PSX) Thursday rang the traditional bell (Gong) at Pakistan Stock Exchange here to start trading at the exchange.
Updated 06 Dec, 2019 06:47am
US says Iran protest death toll may surpass 1,000

US says Iran protest death toll may surpass 1,000

The United States said Thursday that Iranian authorities may have killed more than 1,000 people in a crackdown on demonstrations, which Washington cast as the clerical regime's worst-ever internal challenge.
Published 06 Dec, 2019 12:00am
Saudi Aramco raises $25.6 billion in largest-ever IPO

Saudi Aramco raises $25.6 billion in largest-ever IPO

Saudi Arabia's state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range and raising $25.6 billion, two sources told AFP.
Published 06 Dec, 2019 12:00am
Mengal's party threatens to quit government

Mengal's party threatens to quit government

Balochistan National Party (Mengal) Thursday threatened to end its alliance with the Pakistan Tehreek-e-Insaf (PTI) government if the latter does not release the four women arrested from Awaran district, and termed the move as an attack on Baloch traditio
Published 06 Dec, 2019 12:00am
IMF lending and democracy
Letters

IMF lending and democracy

This is apropos a Business Recorder op-ed "Inequality: the gaping hole in IMF template" carried by the newspaper yesterday. The writer, Shabir Ahmed, has advanced a highly informed argument on the current IMF programme. According to him, "With luck
Updated 06 Dec, 2019 07:25am
A regulatory framework for Pakistan Railways - I
Articles

A regulatory framework for Pakistan Railways - I

Pakistan Railways (PR) is a state-owned enterprise (SOE) under the Ministry of Railways (MoR). While up till the 1970s it operated as the main mode of transportation, both in terms of freight and passenger transport, but over the years since then, its det
Updated 06 Dec, 2019 07:19am
FY19: FBR's dismal performance - I
Articles

FY19: FBR's dismal performance - I

An unusual decline in revenue collection and a steep rise in current expenditures caused a deterioration in all major fiscal indicators during FY19. The overall budget deficit during the year stood at a historic high of 8.9 percent of GDP, which was also
Updated 06 Dec, 2019 07:21am
Revival of executive magistracy?

Revival of executive magistracy?

Taking a backward step to the old days, the government of 'New Pakistan' is considering restoring the erstwhile executive magistracy system to control food inflation. Speaking at a presser on Tuesday flanked by the Prime Minister's Adviser on Finance (who
Updated 06 Dec, 2019 06:29am
Fiscal deficit challenge

Fiscal deficit challenge

Addressing the inaugural session of the two-day conference titled 'Rethinking Microfinance: Developing a New Inclusive Finance Compass', Advisor to the Prime Minister on Finance, Dr Hafeez Shaikh, stated that the fiscal deficit prevented the government fr
Updated 06 Dec, 2019 06:22am
'CLF emergency rooms save 2.7m children in 8 years'

'CLF emergency rooms save 2.7m children in 8 years'

Child Life Foundation, a public private partner of the government of the Sindh to run children emergency rooms in government hospitals has saved more than 2.7 lives in last 8 years, said Dr Ahson Rabbani, CEO, Child Life Foundation, in a presentation give
Published 06 Dec, 2019 12:00am
ACDIS DG for using nuclear technology for peaceful purposes

ACDIS DG for using nuclear technology for peaceful purposes

Director General Arms Control and Disarmament Division (ACDIS), Ministry of Foreign Affairs, Kamran Akhtar on Thursday emphasized that Pakistan's nuclear policy of deterrence needs to be shifted to peaceful usage of nuclear technology.
Published 06 Dec, 2019 12:00am
Pakistan hails resumption of US-Taliban talks

Pakistan hails resumption of US-Taliban talks

Pakistan Thursday welcomed the resumption of the US-Taliban talks after a pause of almost three months, as President Donald Trump had called off the peace process.
Published 06 Dec, 2019 12:00am
Abolition of tax on construction under consideration: Firdous
Taxes

Abolition of tax on construction under consideration: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan, Thursday said that chairman Naya Pakistan Housing Authority has informed the Prime Minister that tax levied on construction would be abolished, for which the m
Updated 06 Dec, 2019 06:48am
'Entrepreneurship exhibition' held at UAF

'Entrepreneurship exhibition' held at UAF

The Institute of Business Management Sciences, University of Agriculture Faisalabad on Thursday arranged entrepreneurship exhibition at the institute in which students presented their different business models.
Published 06 Dec, 2019 12:00am
World community's silence over IoK's siege deplored

World community's silence over IoK's siege deplored

International community's silence on Jammu & Kashmir for last 123 days proves that trade and economic interests are far superior than humanity," said Secretary General (Federal) of the Businessmen Panel and former Chairman FPCCI Standing Committee, Ch Ahm
Published 06 Dec, 2019 12:00am
IPI executive board condemns death threats to Dawn editor and CEO

IPI executive board condemns death threats to Dawn editor and CEO

The undersigned members of the global Executive ~ of the International Press Institute (IPI) vehemently condemn death threats made against fellow P1 Executive Board member and Dawn editor Zaffar Abbas as well as Dawn CEO Hamid Haroon during demonstrations
Published 06 Dec, 2019 12:00am
Karachi mayor extends rebate facility for MUCT consumers

Karachi mayor extends rebate facility for MUCT consumers

Karachi Metropolitan Corporation (KMC) on Thursday announced extension of grace of 25 percent rebate on payment of all outstanding arrears on Municipal Utility Charges & Taxes (MUCT Bill) to the MUCT consumers till 31st December 2019.
Published 06 Dec, 2019 12:00am
Churra appointed VC of KCCI sub-committee
Business & Economy

Churra appointed VC of KCCI sub-committee

President, Karachi Chamber of Commerce and Industry (KCCI) Agha Shahab Ahmed Khan has appointed Aamir Churra as Vice Chairman of KCCI Sub Committee Public Sector Utilities Power and Gas for the year 2019-20.Aamir Churra thanked the KCCI President Agha Sha
Published 06 Dec, 2019 12:00am
Walk to create awareness about smog

Walk to create awareness about smog

A special walk was organized by the Peace for Life Welfare Foundation to raise awareness about smog and highlight prevention measures here on Thursday.
Published 06 Dec, 2019 12:00am
Bachelor's degree for nurses to be introduced: Dr Zafar Mirza

Bachelor's degree for nurses to be introduced: Dr Zafar Mirza

Prime Minister's Special Assistant on National Health Services Dr Zafar Mirza said that government is working to upgrade the nursing profession; we are going with outdated 3 year diploma for nurses, now we will have a bachelor's degree for nurses.
Published 06 Dec, 2019 12:00am
Many foreign companies want to invest in energy sector: Omar
Energy

Many foreign companies want to invest in energy sector: Omar

Federal Minister for Power and Petroleum, Omar Ayub Khan has said that many European, Chinese and other companies are exploring options for establishing industries relating to Renewable Energy equipment like solar panels, wind turbines and other allied pa
Updated 06 Dec, 2019 06:52am
Ali Khwaja assumes charge of CC IR RTO

Ali Khwaja assumes charge of CC IR RTO

Newly appointed Chief Commissioner Inland Revenue, Regional Tax Office (RTO), Sardar Ali Khwaja assumed charge of his office, said a press release issued here on Thursday.
Published 06 Dec, 2019 12:00am
Golootlo partners with BankIslami
Money & Banking

Golootlo partners with BankIslami

Decagon Pakistan Pvt Ltd. (Golootlo) entered into an agreement with BankIslami which shall allow the bank's customers a hassle-free access to all the Golootlo discounts available nationwide. BankIslami, one of the fastest growing Banks in Pakistan, strive
Updated 06 Dec, 2019 06:52am
HBL & Jubilee Life launch 'Amal' Takaful plan
Money & Banking

HBL & Jubilee Life launch 'Amal' Takaful plan

HBL and Jubilee Life have signed an agreement to launch "AMAL", a term life takaful proposition. Amal is a "pure protection" plan and provides coverage in the case of death. The product is in line with the Bank's objective of offering products based on cu
Updated 06 Dec, 2019 06:52am
Abbasi's petition disposed of

Abbasi's petition disposed of

The Lahore High Court (LHC) on Thursday disposed of a petition filed by former prime minister Shahid Khaqan Abbasi for issuance of production order to attend the assembly's session.
Published 06 Dec, 2019 12:00am
Diamer Bhasha Dam: Wapda may award contract in 6 to 8 weeks: chairman

Diamer Bhasha Dam: Wapda may award contract in 6 to 8 weeks: chairman

The Water and Power Development Authority (WAPDA) is all set to commence construction work on Diamer Basha Dam following award of contract in six to eight weeks while the under-construction Mohmand Dam and Dasu Hydropower Project (Stage-I) will be complet
Published 06 Dec, 2019 12:00am
AdAsia Lahore achieves its objectives: Javed Jabbar

AdAsia Lahore achieves its objectives: Javed Jabbar

Former Information Minister and Honourary Chairman of the Organizing Committee of AdAsia Lahore 2019 said on Thursday that AdAsia has achieved its objective by ensuring some outstanding features, including presentations and the range of people who have co
Published 06 Dec, 2019 12:00am
Zuckerberg holds AdAsia audience spellbound

Zuckerberg holds AdAsia audience spellbound

The three-day AdAsia Lahore 2019 concluded here on Thursday, featuring some extraordinary international advertising industry figures including Randi Zuckerberg from Zuckerberg Media, Tom Goodwin from Zenith Media, Julian Boulding from thenetworkone, Edwar
Published 06 Dec, 2019 12:00am
Government mulling establishing expo centre in Sialkot: BoI chief

Government mulling establishing expo centre in Sialkot: BoI chief

Minister of State and Chairman Board of Investment (BoI) Zubail Gilani on Thursday visited Sialkot Chamber of Commerce and Industry (SCCI) to discuss different ways and means pertaining to investment with business community of Sialkot.
Published 06 Dec, 2019 12:00am
Partly Facetious : 'Abdul Public'?
Articles

Partly Facetious : 'Abdul Public'?

"The Khan reckons that all is well and the problem is the failure of around 20 plus disseminators, read those dealing with the media, unable to convey to Abdul Public that his administration is doing an exemplary job in all areas of government activity an
Updated 06 Dec, 2019 07:07am
Ink Factory signs MoU with Konica Minolta & Rolland

Ink Factory signs MoU with Konica Minolta & Rolland

Ink Factory, a digital design and print company, entered into a long-term engagement with international market leading technology companies, Konica Minolta and Rolland, by signing Memorandum of Understanding (MoU) with their respective Pakistan distributo
Published 06 Dec, 2019 12:00am
PM reviews Naya Pakistan Housing Project's progress

PM reviews Naya Pakistan Housing Project's progress

Terming housing sector a priority for his government, Prime Minister Imran Khan on Thursday said promotion of this area would not only boost 40 related industries, but ensure provision of job opportunities to youth and skilled labour.
Published 06 Dec, 2019 12:00am
Senate body to review issues of mines' workers, owners

Senate body to review issues of mines' workers, owners

The members of Senate Standing Committee on Petroleum are visiting Balochistan to discuss with the provincial government the measures adopted for safety and security of mine workers and facilities provided to them by mine owners to avoid occurrence of acc
Published 06 Dec, 2019 12:00am
NUTEC seeks Senate body's help in getting Rs500m funds

NUTEC seeks Senate body's help in getting Rs500m funds

National University of Technology (NUTEC) is facing financial woes like other public sector universities due to which its research programme and other initiatives are affected badly.
Published 06 Dec, 2019 12:00am
Dozens of migrants drown as boat sinks off Mauritania

Dozens of migrants drown as boat sinks off Mauritania

At least 62 migrants travelling on a makeshift boat have drowned off the coast of Mauritania, in the worst loss of life this year along the increasingly travelled western Atlantic migration route to Europe. Eighty-three survivors managed to swim to shore
Published 06 Dec, 2019 12:00am
Israel and Czech Republic sign $125m missile defence deal

Israel and Czech Republic sign $125m missile defence deal

Israel's defence ministry signed a deal with its Czech counterpart on Thursday to sell it radar systems used in the Jewish state's Iron Dome missile defence system. The radars will be integrated into the Czech air defence system which will use Prague's ow
Published 06 Dec, 2019 12:00am
US says seized Iranian weapons bound for Yemen

US says seized Iranian weapons bound for Yemen

The United States said Thursday that it seized a major shipment of Iranian weapons bound for Yemen's Huthi rebels, denouncing what it called a violation of a UN arms embargo.
Published 06 Dec, 2019 12:00am
Putin seeks rapid renewal of key nuclear deal with US

Putin seeks rapid renewal of key nuclear deal with US

Russia's President Vladimir Putin on Thursday said Moscow seeks to renew the nuclear New Start treaty, a key remaining US-Russian arms treaty, before the end of the year. Speaking to military chiefs and Russian defense executives, Putin said the decision
Published 06 Dec, 2019 12:00am
PMEX daily trading report

PMEX daily trading report

On Wednesday t Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,277.
Published 06 Dec, 2019 12:00am
Euronext wheat futures little changed
Commodities

Euronext wheat futures little changed

Euronext wheat futures were little changed on Wednesday as the market consolidated while awaiting the outcome of a tender by Algeria, the largest overseas market for French wheat.
Published 06 Dec, 2019 12:00am
CBOT soyabean futures rise
Commodities

CBOT soyabean futures rise

US soyabean futures rose on 0.8% on Wednesday, posting their biggest percentage gain since Nov. 7, on hopes that the United States and China will come to a trade agreement in the coming weeks.
Published 06 Dec, 2019 12:00am
US natural gas futures fall for less heating demand
Energy

US natural gas futures fall for less heating demand

US natural gas futures fell over 2% on Wednesday on forecasts for less heating demand through the middle of December than previously expected. Front-month gas futures for January delivery on the New York Mercantile Exchange were down 5.5 cents, or 2.3%, t
Updated 06 Dec, 2019 06:55am
Activities at Karachi and Qasim Ports
Business & Economy

Activities at Karachi and Qasim Ports

The Karachi Port handled 91,092 tonnes of cargo comprising 45,893 tonnes of import cargo and 45,199 tonnes of export cargo including 4,992 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
Published 06 Dec, 2019 12:00am
Business activity improves on cotton market
Cotton & Textile

Business activity improves on cotton market

Business activity improved on the cotton market on Thursday as declining rates attracted mills and spinners, dealers said. The official spot rate was unchanged at Rs8900, they added. In ready session, about 16,000 bales of cotton changed hands between Rs8
Updated 06 Dec, 2019 06:55am
CBOT wheat futures firmer
Commodities

CBOT wheat futures firmer

US wheat futures firmed on Wednesday, posting a higher close on a mild technical bounce following early weakness, traders said. The benchmark Chicago Board of Trade March soft red winter wheat contract found support around its 23.6 percent retracement poi
Published 06 Dec, 2019 12:00am
CBOT corn futures lower
Commodities

CBOT corn futures lower

Chicago Board of Trade corn futures fell on Wednesday, retreating from early gains on technical selling, traders said. The benchmark CBOT March corn futures contract turned lower after failing to hold support above its 20-day moving average for the third
Published 06 Dec, 2019 12:00am
Dollar wavers in Asia
Money & Banking

Dollar wavers in Asia

The dollar wobbled on Thursday as an earlier boost from upbeat trade comments by US President Donald Trump ran out of steam and investors remained on edge over Sino-US tensions.
Updated 06 Dec, 2019 06:54am
Dollar near one-month low in Europe
Money & Banking

Dollar near one-month low in Europe

The dollar retreated on Thursday towards one-month lows against a basket of currencies, pressured by a slew of weaker-than-expected economic data and this week's robust performance by the euro and the British pound.
Updated 06 Dec, 2019 07:04am
Yen, Swiss franc fall in New York
Money & Banking

Yen, Swiss franc fall in New York

The safe-haven yen and Swiss franc fell on Wednesday, as risk appetite improved, after more positive rhetoric on US-China trade negotiations from US President Donald Trump.
Updated 06 Dec, 2019 07:04am
South African rand stumbles
Money & Banking

South African rand stumbles

South Africa's rand was weaker on Thursday on lingering economic weakness highlighted by the country's current account deficit and business confidence data.
Updated 06 Dec, 2019 07:04am
Asian currencies eke out gains
Money & Banking

Asian currencies eke out gains

Most Asian currencies notched only small gains on Thursday as the run of conflicting headlines about US-China trade talks dulled emerging market appetite for risky bets.
Updated 06 Dec, 2019 07:03am
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