Last update: Tue, 26 Jul 2016 05am

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Britain's vote to leave the European Union heightens risks for the world economy, finance chiefs from the G20 group of leading countries said Sunday, vowing to use "all policy tools" to boost growth. The outcome of June's referendum "adds to the uncertainty in the global economy", they said in a communique after a meeting of central bankers and ministers in the Chinese city of Chengdu.
Private Power and Infrastructure Board (PPIB) has reportedly failed to convince two power companies to change plant specifications from imported to indigenous coal, well informed sources told Business Recorder.
The State Bank of Pakistan (SBP) has issued Exchange Companies Manual 2016 in order to update/compile related regulations for the convenience of exchange companies. According to the SBP-FE Circular No 04, Exchange Companies Manual has been compiled by incorporating the related SBP Circulars and Circular Letters issued up to June 30, 2016 by relevant SBP departments. Some of the existing instructions contained in SBP Circulars/Circular Letters have been slightly amended in order to make more clarity, it added. Further, prescribed reporting forms have been made a part of the Exchange Companies Manual, it added.
A day after India's External Affairs Minister Sushma Swaraj said Kashmir can never become part of Pakistan, Prime Minister's Adviser on Foreign Affairs Sartaj Aziz responded on Sunday, saying that only Kashmiris could decide their future. Swaraj had said that "the whole of Jammu & Kashmir belongs to India and Kashmir will never become part of Pakistan."
New Delhi's home minister called for "maximum restraint" in Indian held Kashmir on Sunday after weeks of clashes between protesters and security forces that left scores dead. At least 49 people have been killed in clashes in Indian-held Kashmir following the death of popular young rebel commander Burhan Wani in a gunfight with security forces on July 8.
Pakistan People's Party (PPP) decided on Sunday to remove Chief Minister Sindh Syed Qaim Ali Shah. "Pakistan People's Party today (Sunday) decided to make changes in the Sindh cabinet including bringing in a new Chief Minister," said Senator Farhatullah Babar, a PPP spokesperson in a statement.
Southeast Asian nations failed to find common ground on maritime disputes in the South China Sea on Sunday after Cambodia stuck to its demand the group make no reference to an international court ruling against Beijing in a statement, diplomats said.