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Print - 2020-02-29
Shabbir Churra named FPCCI body's convener
Business & Economy

Shabbir Churra named FPCCI body's convener

President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Anjum Nisar has appointed Shabbir Mansha Churra as a conveyor of FPCCI's Central Standing Committee on Customs for the year 2020. Churra is also a member of the FPCCI's Exe
Published 29 Feb, 2020 12:00am
Over 300 Pakistanis reach Taftan from Iran

Over 300 Pakistanis reach Taftan from Iran

Over 300 pilgrims, among them women, have reached Taftan after being permitted to enter from the Pakistan-Iran border, the spokesperson for the Balochistan government Liaquat Shahwani said on Friday. Liaquat Shahwani said that all those who are arriving i
Published 29 Feb, 2020 12:00am
Selling pressure grips PSX: BRIndex100 stays bearish
Stocks

Selling pressure grips PSX: BRIndex100 stays bearish

Pakistan Stock Exchange Friday ended on a negative note due to continuous selling by local and foreign investors. BRIndex100 lost 15.66 points or 0.39 percent to close at 3,953.72 points. BRIndex100 touched intraday high of 4,000.14 and intraday low of 3,
Published 29 Feb, 2020 12:00am
Rs 10.161 billion fresh capital listed on PSX in FY19: SECP

Rs 10.161 billion fresh capital listed on PSX in FY19: SECP

New capital of Rs10.161 billion has been listed on the Pakistan Stock Exchange (PSX) as compared to Rs5.015 billion in 2017-2018. According to the Annual Report (2019) issued by the Securities and Exchange Commission of Pakistan (SECP) Friday, fiscal year
Published 29 Feb, 2020 12:00am
Pact with export industry: Power Division to seek ECC nod

Pact with export industry: Power Division to seek ECC nod

The Power Division has reportedly decided to seek the Economic Coordination Committee's nod on the pact agreed with the export-oriented industry due to expected financial impact of up to Rs 33 billion per annum, well-informed sources told Business Reco
Published 29 Feb, 2020 12:00am
Combined income groups: SPI inflation down 1.16 percent WoW

Combined income groups: SPI inflation down 1.16 percent WoW

Sensitive Price Indicator (SPI) on year-on-year (YoY) basis during (February 28, 2019 to February 27, 2020) has witnessed an increase of 14.60 percent from 112.70 points to 129.15 points, the SPI data released by the Pakistan Bureau of Statistic (PBS) sai
Published 29 Feb, 2020 12:00am
Luxembourg becomes first country to provide free public transport

Luxembourg becomes first country to provide free public transport

Luxembourg will become the first country in the world on Saturday to offer a free public transport system as the government tries to reduce particularly dense car traffic. Some cities have already taken similar partial measures but the transport ministry
Published 29 Feb, 2020 12:00am
Shibli debunks reports of coronavirus outbreak

Shibli debunks reports of coronavirus outbreak

Leader of the House in Senate, Shibli Faraz Friday dismissed as false the reports suggesting the possibility of outbreak of COVID-19 (coronavirus) in Pakistan, saying all preparatory arrangements have been put in place to deal with any situation.
Published 29 Feb, 2020 12:00am
WHO raises global risk from 'high' to 'very high'

WHO raises global risk from 'high' to 'very high'

The rapid spread of the coronavirus increased fears of a pandemic on Friday, with six countries reporting their first cases and the World Health Organization (WHO) raising its global spread and impact risk alert to "very high".
Published 29 Feb, 2020 12:00am
Coronavirus panic sends global stocks tumbling

Coronavirus panic sends global stocks tumbling

Coronavirus panic sent world stock markets tumbling again on Friday, putting them on course for their largest weekly fall since the 2008 global financial crisis, with over $5 trillion wiped from global market value so far this week.
Published 29 Feb, 2020 12:00am
Muslims pray under armed guard after deadly riots in Delhi

Muslims pray under armed guard after deadly riots in Delhi

Muslims in India's capital held regular Friday prayers under the watch of riot police, capping a week which saw 42 killed and hundreds injured during the city's worst sectarian violence in decades. Scores of mosques in New Delhi's northeast held their fir
Published 29 Feb, 2020 12:00am
Iran rejects report of 210 deaths

Iran rejects report of 210 deaths

Iran's health ministry spokesman in a tweet on Friday rejected a report by BBC Persian that at least 210 people have died from coronavirus in the country. The spokesman, Kianush Jahanpur, announced earlier in the day that 34 people have died from coronavi
Published 29 Feb, 2020 12:00am
Revival of KCR: SC raises questions over plan of Railways

Revival of KCR: SC raises questions over plan of Railways

The Supreme Court (SC) has raised some questions on the plan of Pakistan Railways to revive the Karachi Circular Railway (KCR) through Chinese financing and assistance under the China-Pakistan Economic Corridor (CPEC).
Published 29 Feb, 2020 12:00am
20 killed in bus-train collision

20 killed in bus-train collision

At least 20 people were killed while several others were injured after a passenger train collided with a bus near Rohri on Friday night, Aaj News reported. Casualties were expected to rise as rescue workers reached the site and shifted the injured
Published 29 Feb, 2020 12:00am
UN rights chief concerned at situation in IoK

UN rights chief concerned at situation in IoK

The United Nations human rights chief on Thursday expressed serious concern over the situation in Indian occupied Kashmir, which has been under a repressive lockdown for nearly six months, as well as on the escalating anti-Muslim violence in New Delhi whe
Published 29 Feb, 2020 12:00am
Mushtaq Mehar appointed IG Sindh

Mushtaq Mehar appointed IG Sindh

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Friday said the federal cabinet had given approval to Mushtaq Mehar's appointment as Inspector General (IG) Sindh. In a tweet, she said the appointment of new IG
Published 29 Feb, 2020 12:00am
PM lauds Farogh's performance

PM lauds Farogh's performance

Federal Minister for Law Farogh Naseem called on Prime Minister Imran Khan in Islamabad here on Friday. During the meeting, the prime minister assured his full trust and cooperation to Farogh Naseem and said the entire cabinet stood with you. "You're doin
Published 29 Feb, 2020 12:00am
Ogra proposes decrease in POL products' prices

Ogra proposes decrease in POL products' prices

The Oil and Gas Regulatory Authority (Ogra) Friday proposed to the government a decrease of Rs7.23 per litre in the price of high speed diesel (HSD) and Rs5.79 per litre cut in price of petrol for March, the sources claimed.
Published 29 Feb, 2020 12:00am
Dawood's bold admission
Letters

Dawood's bold admission

That adviser to prime minister on commerce and industries Razak Dawood calls a spade a spade is a fact that has found its best expression from his honest admission that the incumbent government is actually responsible for increase in prices of locally-ass
Published 29 Feb, 2020 12:00am
Despite virus rout on markets, hygiene firms clean up
Articles

Despite virus rout on markets, hygiene firms clean up

This week's virus-related markets slump has hammered companies worldwide but some winners have emerged as an anxious public clamours for face masks, hand sanitizers and cleaning products. Thermal imaging cameras are also proving hot as authorities step up
Published 29 Feb, 2020 12:00am
The pyramid
Articles

The pyramid

In a rare moment of weakness-laziness with zero options on the entertainment side being the causation - broke my resolve and switched to the news channels on the idiot box. I am unhappy to report that nothing has changed; the usual suspects still continue
Published 29 Feb, 2020 12:00am
IMF lending - Pakistan vs Egypt
Articles

IMF lending - Pakistan vs Egypt

Ever since the IMF rolled out its current programme in Pakistan, the global lending agency's programme for Egypt has been under intense discussions. The IMF rolled out, in 2016, a programme in Egypt. There are striking similarities between Egypt's and Pak
Published 29 Feb, 2020 12:00am
Containing coronavirus

Containing coronavirus

Considering the rapid pace at which coronavirus (Covid-19) emanating from the Chinese city of Wuhan has been spreading all over the world - so far, there have been 80,000 reported cases - it was a matter of 'when' rather than 'if' the virus would reach th
Updated 29 Feb, 2020 07:07am
Facilities for special persons

Facilities for special persons

It seems that State Bank of Pakistan is also now venturing into the business of providing facilities to the dis-abled or differently-abled persons. Presenting details of a plan, SBP Governor Dr Reza Baqir informed President Arif Alvi that the central bank
Updated 29 Feb, 2020 07:11am
US, Taliban peace deal: Progress a victory of PM's stance: Firdous

US, Taliban peace deal: Progress a victory of PM's stance: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Friday said that the progress in Afghan peace process was the victory of Prime Minister Imran Khan's stance and the exemplary role of the Pakistan armed force
Published 29 Feb, 2020 12:00am
NA to discuss inflation, political situation on March 9

NA to discuss inflation, political situation on March 9

The National Assembly session will be held on March 9, 2020, and issues related to the ongoing economic situation especially inflation as well as the current political situation will be discussed.
Published 29 Feb, 2020 12:00am
NA panel terms FBR reforms 'cosmetic'
Taxes

NA panel terms FBR reforms 'cosmetic'

The Standing Committee on Finance of the National Assembly has expressed dissatisfaction over the government claims of making reforms in the Federal Board of Revenue (FBR), saying reforms are only in statements.
Published 29 Feb, 2020 12:00am
Senate's legislative business discussed

Senate's legislative business discussed

The House Business Advisory Committee (HBAC) of the Senate met here at the Parliament House, on Friday, said a press release. The committee, presided over by Chairman Senate Muhammad Sadiq Sanjrani, discussed in detail, legislative business to be transact
Published 29 Feb, 2020 12:00am
NA panel slams blasphemous material against religious figures

NA panel slams blasphemous material against religious figures

The National Assembly (NA) Standing Committee on Religious Affairs, while condemning blasphemous material against religious figures particularly publication and selling of blasphemous books against the final Prophet Muhammad (PBUH) and his companions, has
Published 29 Feb, 2020 12:00am
NSCCP scam: NAB told to file reference against Ahsan Iqbal

NSCCP scam: NAB told to file reference against Ahsan Iqbal

The Accountability Court hearing the Narowal Sports City Complex Project (NSCCP) scam against the former interior minister Ahsan Iqbal, on Friday directed the National Accountability Bureau (NAB) to file a reference with respect to this case within one mo
Published 29 Feb, 2020 12:00am
Pakistan, Kazakhstan hold inaugural session of BPC
Business & Economy

Pakistan, Kazakhstan hold inaugural session of BPC

Pakistan and Kazakhstan on Friday held the inaugural session of Bilateral Political Consultations (BPC) and exchanged views on enhancing bilateral engagements in diverse areas including commerce, banking, connectivity, education, people-to-people contacts
Published 29 Feb, 2020 12:00am
PPP forms organising body for merged districts

PPP forms organising body for merged districts

Pakistan People's Party (PPP) has announced organizing committees to recommend names of suitable activists to be appointed as office bearers in all of the merged tribal districts. The decision was taken in a meeting of the party's provincial cabinet which
Published 29 Feb, 2020 12:00am
APNS general council meeting on March 14

APNS general council meeting on March 14

The Annual General Council Meeting of the APNS will be held on March 14, 2020 at Karachi. Sarmad Ali, Secretary General of the All Pakistan Newspapers Society announced the decisions of the Executive Committee meeting held at Islamabad chaired by its Pres
Published 29 Feb, 2020 12:00am
Qatar wants to strengthen trade relations: envoy
Business & Economy

Qatar wants to strengthen trade relations: envoy

The Consul-General of Qatar, Mishal Mohammed Ali Al-Ansari, has said that his country wants to further strengthen trade relations with Pakistan. Speaking at a meeting at the Pakistan Chemicals & Dyes Merchants Association (PCDMA), he emphasized the need f
Published 29 Feb, 2020 12:00am
Over 16,000 inmates of prisons at risk of contracting coronavirus: IG

Over 16,000 inmates of prisons at risk of contracting coronavirus: IG

Over 16,000 inmates in the Sindh prisons are at risk of contracting the novel coronavirus as no efforts are underway to take preventive measures aimed at avoiding the outbreak of the virus in already overcrowded jails. This was informed by the Inspector G
Published 29 Feb, 2020 12:00am
KLF opens amid presence of many literati

KLF opens amid presence of many literati

"This is a very exhilarating experience for me. I have never seen so many literary icons in one place and it is a real honour to be able to meet them and discuss issues of common interest. The very richness of this occasion fascinates me and creates in me
Published 29 Feb, 2020 12:00am
EOBI PRO Israr Ayoubi retires after 39 years of service

EOBI PRO Israr Ayoubi retires after 39 years of service

Israr Ayoubi, PRO of the Employees' Old-Age Benefits Institution (EOBI), has retired after serving the institution for 39 years. He joined the EOBI on 20th April 1981 as a junior clerk. He improved his academic qualification during the service and did his
Published 29 Feb, 2020 12:00am
Rafique Suleman made convener of FPCCI's body
Business & Economy

Rafique Suleman made convener of FPCCI's body

President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar has appointed Rafique Suleman as Convener of FPCCI's Central Standing Committee on Rice for the year 2020. President FPCCI has authorised Rafique Suleman for sele
Published 29 Feb, 2020 12:00am
PBIF chief for imposing tax on vacant plots
Business & Economy

PBIF chief for imposing tax on vacant plots

Tax should be imposed on vacant plots to encourage construction while builders should be given tax breaks to promote construction of plazas in cities to resolve the issue of housing. This was stated by Mian Zahid Hussain, President of Pakistan Businessmen
Published 29 Feb, 2020 12:00am
MCB Bank Bahrain inaugurates new office
Money & Banking

MCB Bank Bahrain inaugurates new office

MCB Bank, one of Pakistan's largest & most innovative banks, recently held a ceremony to inaugurate the new office of their Bahrain Wholesale Branch at NBB Tower, Manama. The new branch was inaugurated as part of MCB Bank's 25th Anniversary of operations
Published 29 Feb, 2020 12:00am
BoP earns Rs14.04bn profit before tax
Money & Banking

BoP earns Rs14.04bn profit before tax

A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on February 28, 2020. During the meeting, annual audited Financial Statements of the Bank for the year ended December 31, 2019 were approved by the Board.
Published 29 Feb, 2020 12:00am
Career Fair held at SZABIST

Career Fair held at SZABIST

SZABIST annual Career Fair was held on 18th February. More than 68 well reputed national and multinational companies/ employers participated in the SZABIST career fair.
Published 29 Feb, 2020 12:00am
5 guards among 11 injured in IJT, PEDM clash

5 guards among 11 injured in IJT, PEDM clash

At least 11 people including five security guards were injured as a result of clash between Islami Jamiat-Talba and Pashtun Education Development Movement in Punjab University on Friday.
Published 29 Feb, 2020 12:00am
Shortage of masks: LHC seeks report from governments, Drap

Shortage of masks: LHC seeks report from governments, Drap

Lahore High Court Chief Justice Mamoon Rashid Sheikh on Friday sought reports from federal and provincial governments and Drug Regulatory Authority of Pakistan (DRAP) by March 02, on a petition against shortage of surgical masks in market and their sale o
Published 29 Feb, 2020 12:00am
PML-N submits resolution in PA to summon APC on coronavirus

PML-N submits resolution in PA to summon APC on coronavirus

In the wake of coronavirus outbreak, the Pakistan Muslim League-Nawaz (PML-N) MPA through a resolution has demanded to summon the All Parties Conference (APC) to evolve a joint strategy to counter the problem.
Published 29 Feb, 2020 12:00am
Sarwar for renegotiating accords with IPP, LNG providers
Energy

Sarwar for renegotiating accords with IPP, LNG providers

Punjab Governor Chaudhry Muhammad Sarwar admitting the need of taking bold decisions for cutting the cost of doing business has said that the government has to renegotiate with the Independent Power Producers (IPPs) and LNG providers to bring the energy p
Published 29 Feb, 2020 12:00am
PHP to improve E-challan system on highways

PHP to improve E-challan system on highways

The Punjab Highway Patrol (PHP) with the assistance of Punjab police is going to improve E-challan system besides devising effective strategies for preventing traffic accidents on highways. Presiding over a meeting with all senior traffic police officers
Published 29 Feb, 2020 12:00am
Jurisdictional issues: Senate body chalks out future work plan

Jurisdictional issues: Senate body chalks out future work plan

The Senate Special Committee tasked with reviewing and examining jurisdictional issues between the Capital Development Authority (CDA) and the Metropolitan Corporation Islamabad (MCI) held its first meeting and adopted future work plan for the committee.
Published 29 Feb, 2020 12:00am
FBR will issue new and updated ATL
Taxes

FBR will issue new and updated ATL

The Federal Board of Revenue (FBR) will issue new and updated Active Taxpayer List (ATL) midnight February 29, 2020. The FBR would exclude names of all such persons from ATL, who would not file their income tax returns (tax year 2019) till midnight Februa
Published 29 Feb, 2020 12:00am
SECP proposes exemption of ST from health, life insurance
Stocks

SECP proposes exemption of ST from health, life insurance

The Securities and Exchange Commission of Pakistan (SECP) has strongly proposed exemption of sales tax from health and life insurance on permanent basis. The SECP Annual Report (2019) issued here on Friday disclosed that the SECP had taken up the issue of
Published 29 Feb, 2020 12:00am
Ruling party retains sweeping majority in Cameroon

Ruling party retains sweeping majority in Cameroon

President Paul Biya's party has retained an absolute majority in Cameroon's parliament, the constitutional council announced Friday after the controversial February 9 vote. His Cameroon People's Democratic Movement (RDPC) won 139 out of 167 declared seats
Published 29 Feb, 2020 12:00am
UN chief calls for end to 'stupid' gender inequality

UN chief calls for end to 'stupid' gender inequality

UN chief Antonio Guterres Thursday called for an end to gender inequality which he said "should shame us all in the 21st century because it is not only unacceptable, it is stupid."
Published 29 Feb, 2020 12:00am
Fire in Paris, train station partly evacuated during protests: police

Fire in Paris, train station partly evacuated during protests: police

Paris police reported a fire Friday near the Gare de Lyon train station, which was partially evacuated amid violent protests against a Congolese singer due to give a concert nearby. "Avoid the area and allow the emergency services to intervene," the polic
Published 29 Feb, 2020 12:00am
Malaysian king hits back at Mahathir amid crisis

Malaysian king hits back at Mahathir amid crisis

Malaysia's king struck down Friday a power play by 94-year-old Mahathir Mohamad aimed at seizing momentum in a political crisis, capping a week of turmoil that has left the country effectively leaderless.
Published 29 Feb, 2020 12:00am
Greece blocks migrants on border with Turkey

Greece blocks migrants on border with Turkey

Greece blocked hundreds of migrants trying to enter the country on Friday, with the Prime Minister declaring that "illegal" entries would not be tolerated, hours after Turkey said it would no longer prevent them from travelling to Europe.
Published 29 Feb, 2020 12:00am
At least one wounded as rockets hit Libya capital, airport

At least one wounded as rockets hit Libya capital, airport

Rockets targeted areas of the Libyan capital Tripoli on Friday, including its only working airport, wounding at least one person and causing material damage, several sources said. Forces backing the UN-recognised Government of National Accord (GNA), based
Published 29 Feb, 2020 12:00am
Philippines says door open to reshaping US military pact

Philippines says door open to reshaping US military pact

There is still room for negotiations to replace a key military pact with the US that the Philippines has moved to scrap, a top Manila diplomat said Friday, voicing hope for the seven-decade-old alliance. President Rodrigo Duterte gave notice nearly three
Published 29 Feb, 2020 12:00am
'Activism works': Greta Thunberg rallies UK school strikers

'Activism works': Greta Thunberg rallies UK school strikers

Teen climate activist Greta Thunberg told tens of thousands of environmental protesters in Britain on Friday that "activism works" - the day after plans for a third runway at London's Heathrow airport suffered a setback.
Published 29 Feb, 2020 12:00am
Pompeo warns Iran not to be 'spoiler' in Afghanistan

Pompeo warns Iran not to be 'spoiler' in Afghanistan

Secretary of State Mike Pompeo on Friday warned Iran not to scuttle an upcoming agreement with the Taliban, accusing the US adversary of seeking to be a "spoiler." Pompeo confirmed that a one-week partial truce was holding with the Taliban, who are schedu
Published 29 Feb, 2020 12:00am
Britain jails roof box people smuggler

Britain jails roof box people smuggler

A British court on Friday jailed for three years a people smuggler who tried to sneak in three Vietnamese nationals by cramming them into the roof box of his car.
Published 29 Feb, 2020 12:00am
Dollar falls in NY, euro has best day since May 2018
Money & Banking

Dollar falls in NY, euro has best day since May 2018

The dollar fell on Thursday as investors bet the Federal Reserve would cut interest rates to offset the impact of the spreading coronavirus, giving the euro its largest daily gain since May 2018. Trader expectations of an interest rate cut in March increa
Published 29 Feb, 2020 12:00am
Turkish lira, stocks tumble
Money & Banking

Turkish lira, stocks tumble

Turkish stocks and the lira tumbled on Friday as rising tensions following an air strike in Syria's Idlib province that killed 33 Turkish soldiers exacerbated a wider meltdown in emerging market assets over fears of the coronavirus spread.
Published 29 Feb, 2020 12:00am
South African rand closes at 18-month low
Money & Banking

South African rand closes at 18-month low

South African rand closed at its weakest level in 18 months on Friday, extending its slump throughout the day as stocks also crashed amid deepening worries about coronavirus that sent global financial markets into a tailspin.
Published 29 Feb, 2020 12:00am
Sterling tumbles to 2020 lows
Money & Banking

Sterling tumbles to 2020 lows

The pound dropped sharply on Friday, losing nearly 1% against the euro and the dollar as worries about the fast-spreading coronavirus sent investors out of currencies deemed riskier. As investors rushed for the safe-haven Japanese yen, Swiss franc and US
Published 29 Feb, 2020 12:00am
Aussie, kiwi down, bond yields hit record
Money & Banking

Aussie, kiwi down, bond yields hit record

The Australian and New Zealand dollars were heading for another week of losses on Friday as fears for the health of the global economy fuelled bets on aggressive rate cuts and drove local bond yields to all-time lows. The only saving grace for the Aussie
Published 29 Feb, 2020 12:00am
Chinese idol Sun Yang banned for eight years over doping offence
Other

Chinese idol Sun Yang banned for eight years over doping offence

China's triple Olympic swimming gold medallist Sun Yang has been found guilty of refusing to give a doping sample and banned for eight years in a ruling that excludes him from the Tokyo Olympics and effectively ends his career.
Published 29 Feb, 2020 12:00am
Quality cricket being seen in HBL PSL V 2020
Cricket

Quality cricket being seen in HBL PSL V 2020

The HBL Pakistan Super League 2020 has gotten off to a tremendous start as high-quality cricket has kept fans at the edge of their seats. This year's edition, which is the first instance of the league being played in Pakistan, has produced some riveting c
Published 29 Feb, 2020 12:00am
Injured Rabada out of Australia, India series
Cricket

Injured Rabada out of Australia, India series

South African fast bowler Kagiso Rabada has been ruled out of the one-day international series against Australia, starting in Paarl on Saturday, as well as a short tour of India next month. Rabada suffered a groin strain during the third and final Twenty2
Published 29 Feb, 2020 12:00am
Djokovic beat Monfils for 17th time
Other

Djokovic beat Monfils for 17th time

Novak Djokovic saved three match points before defeating Gael Monfils 2-6, 7-6 (10/8), 6-1 to reach the Dubai Championships final on Friday. It was the 17th win of the season for the world number one and a 17th career win over Frenchman Monfils without a
Published 29 Feb, 2020 12:00am
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