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Archive - 2016-12-09
Italy's BMPS reels from ECB deadline reports
World

Italy's BMPS reels from ECB deadline reports

MILAN: Italy's Monte dei Paschi di Siena saw its stock tumble more than 12 percent Friday over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down.
Published 09 Dec, 2016 07:16pm
UEFA to stick with Champions League reforms
Football

UEFA to stick with Champions League reforms

NYON: UEFA on Friday confirmed that they will push ahead with previously announced plans to reform the Champions League and will provide compensation for smaller leagues affected by the changes.
Published 09 Dec, 2016 07:14pm
French Ligue 1 result
Football

French Ligue 1 result

PARIS: French Ligue 1 result on Friday:Dijon v Marseille - match postponed due to fog, rearranged for SaturdayPlaying Sa
Published 09 Dec, 2016 07:13pm
Samsung to disable Note 7 phones in recall effort
Industry

Samsung to disable Note 7 phones in recall effort

WASHINGTON: Samsung announced Friday it would disable its Galaxy Note 7 smartphones in the US market to force remaining owners to stop using the devices, which were recalled for safety reasons.
Published 09 Dec, 2016 07:04pm
Bilawal endorses Sindh demand for including KCR in CPEC
General News

Bilawal endorses Sindh demand for including KCR in CPEC

KARACHI: The Chairman of Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari has endorsed the demand from Chief Minister Sindh Syed Murad Shah for including Karachi Circular Railway (KCR) project in CPEC as the city was catering to people from all over Pa
Published 09 Dec, 2016 05:56pm
OPEC to push for non-member oil cuts
Energy

OPEC to push for non-member oil cuts

VIENNA: The OPEC cartel will seek Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices.
Published 09 Dec, 2016 05:50pm
Sartaj visits Bahrain for Manama Dialogue
General News

Sartaj visits Bahrain for Manama Dialogue

ISLAMABAD: Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz is visiting Bahrain from December 10-11 to attend 'The Manama Dialogue', in which more than 20 counties are participating.
Published 09 Dec, 2016 05:48pm
30 killed in Boko Haram suicide attacks in NE Nigeria
World Top News

30 killed in Boko Haram suicide attacks in NE Nigeria

KANO: At least 30 people were killed on Friday when two female suicide bombers detonated their explosives in a busy market in northeast Nigeria, the military said.
Published 09 Dec, 2016 03:13pm
US stocks push higher, adding to records
Financial

US stocks push higher, adding to records

NEW YORK: Wall Street stocks rose early Friday, adding to a string of records on continued bullish sentiment about the US economic outlook as well as the European Central Bank's stimulus.
Published 09 Dec, 2016 03:09pm
WFP decides to extend anemia reduction project in AJK
General News

WFP decides to extend anemia reduction project in AJK

MUZAFFARABAD: World Food Program (WFP) Friday decided to extend its wheat and flour fortification project in Azad Kashmir (AJK) for further one year with the aim to overcome the anemia problem in the poor class in collaboration with Micro-nutrient Initiat
Published 09 Dec, 2016 02:45pm
Portugal trade deficit in goods widens 6pc in Aug-Oct
World

Portugal trade deficit in goods widens 6pc in Aug-Oct

LISBON: Portugal's global trade deficit widened 6 percent in the three months between August and October from a year earlier as imports rose more than exports, the National Statistics Institute (INE) said on Friday.
Published 09 Dec, 2016 02:20pm
Russian Foreign Minister says US dragging out talks on Aleppo accord
Front Top News

Russian Foreign Minister says US dragging out talks on Aleppo accord

HAMBURG: Russian Foreign Minister Sergei Lavrov on Friday accused the United States of dragging out talks on an accord to allow Syrian rebels to safely leave Aleppo and said Washington was taking "strange" and contradictory positions during its talks with
Published 09 Dec, 2016 02:08pm
Erdogan urges Turks to sell more forex to stem lira falls
Front Top News

Erdogan urges Turks to sell more forex to stem lira falls

ISTANBUL: President Tayyip Erdogan called on Turks on Friday to step up their sales of foreign currency to buy lira, saying their efforts so far to defend the Turkish currency from sharp falls were insufficient.
Published 09 Dec, 2016 02:05pm
Turkish jets hit IS targets in Syria
Europe

Turkish jets hit IS targets in Syria

ISTANBUL: Turkish warplanes destroyed 10 Islamic State targets in northern Syria while rebels backed by Turkey seized control of an important highway between the towns of al-Bab and Manbij, the Turkish army said on Friday.
Published 09 Dec, 2016 02:02pm
Euro zone needs more risk-sharing, euro zone budget would help
World Top News

Euro zone needs more risk-sharing, euro zone budget would help

HELSINKI: The euro zone needs a way to share economic risks through a fiscal mechanism and through capital markets, the head of the euro zone bailout fund said, noting a euro zone budget did not have to entail debt mutualisation or permanent transfers.
Published 09 Dec, 2016 01:36pm
Saudis order oil cuts to US, Europe ahead of non-OPEC talks
Energy

Saudis order oil cuts to US, Europe ahead of non-OPEC talks

SINGAPORE/TOKYO/DUBAI: Saudi Arabia has told its US and European customers it will reduce oil deliveries from January as Russia signalled that a commitment from non-OPEC producers to join OPEC's output limits still faced challenges.
Published 09 Dec, 2016 01:27pm
RECORDER REPORT-PSX close of day
Pakistan Top News

RECORDER REPORT-PSX close of day

KARACHI: Karachi Stock Exchange (KSE) 100 index closed higher on Friday having 45387.
Published 09 Dec, 2016 01:25pm
Serbian fiscal council warns on government debt
World

Serbian fiscal council warns on government debt

BELGRADE: Serbia's 2017 budget is credible and should improve the country's finances but high state debt remains a key risk for the economy, the Serbian fiscal council said on Friday.
Published 09 Dec, 2016 01:22pm
Euro, yen fall as dollar momentum builds again
Financial

Euro, yen fall as dollar momentum builds again

LONDON: The euro was back under pressure on Friday after an extension of the European Central Bank's programme of money-printing drove its biggest daily loss against the dollar since Britain's vote to leave the European Union in June.
Published 09 Dec, 2016 01:09pm
South Korea to review fiscal policy tools for growth
World

South Korea to review fiscal policy tools for growth

SEOUL: South Korea's finance minister said on Friday his ministry would actively review available fiscal tools to support growth as external uncertainties at home and abroad may put a dent in recovery momentum.
Published 09 Dec, 2016 01:05pm
US defence chief makes surprise visit to Afghanistan
Asia

US defence chief makes surprise visit to Afghanistan

KABUL: US Defence Secretary Ashton Carter landed in Afghanistan Friday on an unannounced visit, as uncertainty lingers over President-elect Donald Trump's strategy on America's longest war with no end in sight.
Published 09 Dec, 2016 11:06am
European stocks steady at open
Financial

European stocks steady at open

LONDON: European stock markets were steady at the start of trading on Friday, with London's benchmark FTSE 100 index up 0.
Published 09 Dec, 2016 10:29am
Hussey lauds the outstanding Muhammad Amir
Cricket

Hussey lauds the outstanding Muhammad Amir

Pakistan bowling spearhead, Muhammad Amir proved once again that he remains the biggest threat to Australia, after he demolished the Cricket Australia XI in the warm up Test match.
Published 09 Dec, 2016 10:26am
Hong Kong shares end down, casinos slump
Financial

Hong Kong shares end down, casinos slump

HONG KONG: Hong Kong stocks ended lower Friday after a three-day rally, with casino firms battered by a report that officials were to halve the amount of cash mainland Chinese gamblers could withdraw from ATMs in the gaming city of Macau.
Published 09 Dec, 2016 10:26am
Pakistan working to join OECD Convention on Combating Bribery: Dar
Pakistan Top News

Pakistan working to join OECD Convention on Combating Bribery: Dar

ISLAMABAD: Pakistan is currently working to meet the Organisation for Economic Co-operation and Development's (OECD) criteria and parameters to formally apply for accession to its Convention on Combating Bribery.
Published 09 Dec, 2016 10:23am
Shipping activity at Port Qasim
Business & Economy

Shipping activity at Port Qasim

KARACHI: Three ships Maipo, SC Beihai and Genuine Hercules Carrying Containers, 17500 Tonnes palm oil and 21,937 tonnes phosphoric acid were arranged berthing at Qasim International Container Terminal, Liquid Cargo Terminal and Engro Vopak terminal respec
Published 09 Dec, 2016 10:09am
President for fighting corruption as sacred obligation
Pakistan Top News

President for fighting corruption as sacred obligation

ISLAMABAD: President Mamnoon Hussain on Friday said corruption leads to creating sense of deprivation and can be eliminated with concerted efforts by all segments of society.
Published 09 Dec, 2016 10:08am
Pakistan China failed to develop consensus on FTA
Pakistan Top News

Pakistan China failed to develop consensus on FTA

MUSHTAQ GHUMMAN%D%AISLAMABAD: Pakistan and China have reportedly failed to evolve consensus on a methodology to further expand Free Trade Agreement (FTA) after both sides have dissimilar claims of impact on the bilateral trade, well-informed sources in Co
Published 09 Dec, 2016 08:25am
Pakistan on top against CA XI
Cricket

Pakistan on top against CA XI

Pakistan pace trio of Amir, Rahat and Wahab proved too hot to handle for the as they topple down the Cricket Australia XI, in the first innings of Pakistan only warm up Test match.
Published 09 Dec, 2016 08:15am
Archery Championship from December 23
Sports

Archery Championship from December 23

ISLAMABAD: Islamabad Archery Association (IAA) in collaboration with Pakistan Archery Championship (PAA) will be holding Islamabad Archery Open Championship from December 23 here at the Pakistan Sports Complex.
Published 09 Dec, 2016 08:06am
Anti-polio drive to start from Dec 19
General News

Anti-polio drive to start from Dec 19

SUKKUR: Deputy Commissioner Sukkur Dr Waheed Asghar Bhutti has said that active cooperation of parents teachers, religious leaders and media is vital for eliminating of fatal polio disease from the country while notable personalities belong to different s
Published 09 Dec, 2016 08:02am
USAID Deputy Mission Director visits DHO
General News

USAID Deputy Mission Director visits DHO

SUKKUR: USAID Deputy Mission Director Denise Herbol visited the district health office Khairpur and met the DHO Dr Nisar Ali Phulpoto and sites supported by USAID Maternal & Child Health Programme, and discussed the ongoing health support for community mi
Published 09 Dec, 2016 08:00am
Bannu Police arrested one wanted terrorist
General News

Bannu Police arrested one wanted terrorist

PESHAWAR: The Bannu Police in a successful operation alongwith the officials of the security forces early Friday morning arrested a wanted terrorist involved in more 12 different anti-state activities.
Published 09 Dec, 2016 07:58am
Oil extends gains on hopes for non-OPEC output cuts
Energy

Oil extends gains on hopes for non-OPEC output cuts

TOKYO: Oil prices extended gains on Friday on optimism that non-OPEC producers would agree to cut output following a cartel agreement to limit production, but the upside was limited amid uncertainty over the size of the production curbs.
Published 09 Dec, 2016 07:53am
Ashwin takes six as England all out for 400
Cricket

Ashwin takes six as England all out for 400

MUMBAI: India off-spinner Ravichandran Ashwin took his 23rd five-wicket haul as England were all out for 400 in their first innings on the second day of the fourth and penultimate test at the Wankhede Stadium on Friday.
Published 09 Dec, 2016 07:47am
Trump defends cabinet as hardline picks slammed
North America

Trump defends cabinet as hardline picks slammed

DES MOINES: Donald Trump on Thursday vigorously defended his incoming cabinet against uproar from Democrats, green activists and workers unions who said his nominees for the environment and labor signalled a sharp shift to the right.
Published 09 Dec, 2016 07:45am
German exports rise less than expected in October
World

German exports rise less than expected in October

BERLIN: German exports rebounded by less than expected in October, dampening hopes that trade will make a significant contribution to a predicted expansion in Europe's biggest economy in the final quarter of this year.
Published 09 Dec, 2016 07:43am
Hong Kong stocks down by break
Financial

Hong Kong stocks down by break

HONG KONG: Hong Kong stocks fell in the morning session Friday, with casino operators battered by a report saying officials had halved the amount of cash mainland Chinese gamblers were allowed to withdraw from ATMs in the gaming city of Macau.
Published 09 Dec, 2016 07:41am
Taiwan's MFIG bought 65,000 tonnes corn in tender
Commodities

Taiwan's MFIG bought 65,000 tonnes corn in tender

HAMBURG: Taiwan's maize industry procurement association MFIG purchased around 65,000 tonnes of corn expected to be sourced from the United States in an international tender which closed on Thursday, European traders said on Friday.
Published 09 Dec, 2016 07:41am
China factory-gate inflation hits 5-year high
World

China factory-gate inflation hits 5-year high

BEIJING: Chinese producer prices rose at their fastest pace for five years in November, Beijing said Friday, fuelling hopes that the world's factory can export inflation into a lacklustre global economy.
Published 09 Dec, 2016 07:37am
Euro zone bonds yields head back down after ECB
Managed Funds

Euro zone bonds yields head back down after ECB

LONDON: Most euro zone government bond yields fell in early Friday trade, reversing increases made the previous session after the ECB reduced its asset purchases but promised protracted stimulus to support a recovery.
Published 09 Dec, 2016 07:34am
Tokyo's Nikkei index closes at fresh year high
Financial

Tokyo's Nikkei index closes at fresh year high

TOKYO: Tokyo's benchmark stock index on Friday closed at a fresh high for the year, extending a global rally driven by the European Central Bank's move to extend its stimulus programme.
Published 09 Dec, 2016 07:28am
'We will rebuild': Indonesian president tours quake zone
Asia

'We will rebuild': Indonesian president tours quake zone

PIDIE JAYA: Indonesian President Joko Widodo pledged Friday to help the people of Aceh rebuild as he toured areas worst-hit by a devastating earthquake that killed more than 100 people and left thousands homeless.
Published 09 Dec, 2016 07:26am
South Korea lawmakers cast votes on impeachment motion
Asia

South Korea lawmakers cast votes on impeachment motion

SEOUL: South Korean lawmakers began voting Friday on an impeachment motion to strip President Park Geun-Hye of her sweeping executive powers over a corruption scandal that has paralysed her administration and triggered massive street protests.
Published 09 Dec, 2016 07:21am
Space-orbit causing blindness in Astronaut
Technology

Space-orbit causing blindness in Astronaut

An unidentified syndrome has been causing the deterioration of astronauts vision aboard the ISS, resulting in untreatable nearsightedness that lingers for months after their return to Earth. %D%A%D%A
Published 09 Dec, 2016 06:15am
Pakistan invited to join OECD Development Centre

Pakistan invited to join OECD Development Centre

Angel Gurria, Secretary General of Organisation for Economic Co-operation and Development (OECD), Thursday invited Pakistan to join OECD Development Centre and offered OECD's technical help for developing Pakistan's National Action Plan for OGP (Open Gove
Published 09 Dec, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 09 Dec, 2016 12:00am
Global consortium buys majority of UK gas business

Global consortium buys majority of UK gas business

Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain's National Grid, the group announced on Thursday. The international consortium, led by Australian investment bank Macquarie and including
Published 09 Dec, 2016 12:00am
Global consortium buys majority of UK gas business

Global consortium buys majority of UK gas business

Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain's National Grid, the group announced on Thursday. The international consortium, led by Australian investment bank Macquarie and including
Published 09 Dec, 2016 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 09 Dec, 2016 12:00am
Global consortium buys majority of UK gas business

Global consortium buys majority of UK gas business

Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain''s National Grid, the group announced on Thursday. The international consortium, led by Australian investment bank Macquarie and includin
Published 09 Dec, 2016 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Dec, 2016 12:00am
Blue chips lead rally

Blue chips lead rally

Pakistan Stock Exchange (PSX) Thursday witnessed another bullish session on the back of continuous buying by local investors and institutions. The benchmark KSE-100 index surged by 246.99 points to close at new high of 44,741.98 points. Trading activity,
Published 09 Dec, 2016 12:00am
BOARD MEETINGS
Cotton

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Dec, 2016 12:00am
Blue chips lead rally

Blue chips lead rally

Pakistan Stock Exchange (PSX) Thursday witnessed another bullish session on the back of continuous buying by local investors and institutions. The benchmark KSE-100 index surged by 246.99 points to close at new high of 44,741.98 points. Trading activity,
Published 09 Dec, 2016 12:00am
Blue chips lead rally

Blue chips lead rally

Pakistan Stock Exchange (PSX) Thursday witnessed another bullish session on the back of continuous buying by local investors and institutions. The benchmark KSE-100 index surged by 246.99 points to close at new high of 44,741.98 points. Trading activity,
Published 09 Dec, 2016 12:00am
BRIndex30 sheds 148.7 points

BRIndex30 sheds 148.7 points

On Thursday, BRIndex30 opened at 25,334.54 points. It touched an intraday high of 25,384.13 points and an intraday low of 25,079.53 points and closed at 25,185.84 points which was -148.7 points or -0.59 percent lower than previous close. Total volume was
Published 09 Dec, 2016 12:00am
BRIndex30 sheds 148.7 points

BRIndex30 sheds 148.7 points

On Thursday, BRIndex30 opened at 25,334.54 points. It touched an intraday high of 25,384.13 points and an intraday low of 25,079.53 points and closed at 25,185.84 points which was -148.7 points or -0.59 percent lower than previous close. Total volume was
Published 09 Dec, 2016 12:00am
Prime Minister for independent inquiry into plane crash

Prime Minister for independent inquiry into plane crash

Prime Minister Nawaz Sharif on Thursday directed that a detailed, independent and transparent inquiry into the unfortunate crash be held by the Safety Investigation Board. "The inquiry should be completed at the earliest. It is imperative that the truth s
Published 09 Dec, 2016 12:00am
Prime Minister for independent inquiry into plane crash

Prime Minister for independent inquiry into plane crash

Prime Minister Nawaz Sharif on Thursday directed that a detailed, independent and transparent inquiry into the unfortunate crash be held by the Safety Investigation Board. "The inquiry should be completed at the earliest. It is imperative that the truth s
Published 09 Dec, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
Consensus eludes China, Pakistan on FTA expansion

Consensus eludes China, Pakistan on FTA expansion

Pakistan and China have reportedly failed to evolve consensus on a methodology to further expand Free Trade Agreement (FTA) after both sides have dissimilar claims of impact on the bilateral trade, well-informed sources in Commerce Ministry told Busine
Published 09 Dec, 2016 12:00am
Consensus eludes China, Pakistan on FTA expansion

Consensus eludes China, Pakistan on FTA expansion

Pakistan and China have reportedly failed to evolve consensus on a methodology to further expand Free Trade Agreement (FTA) after both sides have dissimilar claims of impact on the bilateral trade, well-informed sources in Commerce Ministry told Busine
Published 09 Dec, 2016 12:00am
Consensus eludes China, Pakistan on FTA expansion

Consensus eludes China, Pakistan on FTA expansion

Pakistan and China have reportedly failed to evolve consensus on a methodology to further expand Free Trade Agreement (FTA) after both sides have dissimilar claims of impact on the bilateral trade, well-informed sources in Commerce Ministry told Busine
Published 09 Dec, 2016 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

No major changes were seen on the money market on Thursday as the rupee held the overnight levels against the dollar in process of trading, dealers said. The rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 104.76 and Rs
Published 09 Dec, 2016 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

No major changes were seen on the money market on Thursday as the rupee held the overnight levels against the dollar in process of trading, dealers said. The rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 104.76 and Rs
Published 09 Dec, 2016 12:00am
UNOPS signs pilot project to develop women bus service in KP

UNOPS signs pilot project to develop women bus service in KP

The Embassy of Japan and United Nations Office for Project Services (UNOPS) Country Office in Pakistan on Wednesday signed a pilot project of $1.79 million aimed at development of a women bus service in selected districts of Khyber Pakhtunkhwa (KP). The e
Published 09 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
GSP+status: Pakistan needs to do more on human rights: EU envoys

GSP+status: Pakistan needs to do more on human rights: EU envoys

The government was urged on Thursday to ensure implementation on National Plan of Action on Human Rights to maintain Pakistan's GSP+ status and to present a better picture at the upcoming Universal Periodic Review. A diverse section of influential stakeho
Published 09 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
PSO considering to challenge CCP's order

PSO considering to challenge CCP's order

Apropos the news items circulating in various sections of national media about Competition Commission of Pakistan (CCP) imposing penalty on PSO on an alleged complaint of deceptive marketing, PSO would like to clarify that the issue under consideration re
Published 09 Dec, 2016 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
Aizaz appointed new ambassador to US

Aizaz appointed new ambassador to US

Prime Minister Nawaz Sharif has approved appointment of Aizaz Ahmad Chaudhry as Pakistan's new ambassador to United States, sources said here on Thursday. Foreign Office Spokesperson Nafees Zakaria, however, declined to comment on the development, saying
Published 09 Dec, 2016 12:00am
Aizaz appointed new ambassador to US

Aizaz appointed new ambassador to US

Prime Minister Nawaz Sharif has approved appointment of Aizaz Ahmad Chaudhry as Pakistan's new ambassador to United States, sources said here on Thursday. Foreign Office Spokesperson Nafees Zakaria, however, declined to comment on the development, saying
Published 09 Dec, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (December 08, 2016)

Published 09 Dec, 2016 12:00am
Exporters refused wheat subsidy

Exporters refused wheat subsidy

The Economic Co-ordination Committee (ECC) of the Cabinet has refused to extend subsidy to those wheat exporters who had filed Goods Declaration (GD) after September 30, 2015, well-informed sources told Business Recorder Thursday. Ministry of Natio
Published 09 Dec, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
Exporters refused wheat subsidy

Exporters refused wheat subsidy

The Economic Co-ordination Committee (ECC) of the Cabinet has refused to extend subsidy to those wheat exporters who had filed Goods Declaration (GD) after September 30, 2015, well-informed sources told Business Recorder Thursday. Ministry of Natio
Published 09 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 09 Dec, 2016 12:00am
Exporters refused wheat subsidy

Exporters refused wheat subsidy

The Economic Co-ordination Committee (ECC) of the Cabinet has refused to extend subsidy to those wheat exporters who had filed Goods Declaration (GD) after September 30, 2015, well-informed sources told Business Recorder Thursday. Ministry of Natio
Published 09 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 09 Dec, 2016 12:00am
NJHP to start power generation on January 30

NJHP to start power generation on January 30

Neelum-Jhelum hydropower project would start generation of electricity on January 30, 2017. Chairman National Assembly Standing Committee on Planning Development and Reforms, Abdul Majeed Khan told this to Business Recorder here on Thursday. The ch
Published 09 Dec, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (December 08, 2016).

Published 09 Dec, 2016 12:00am
NJHP to start power generation on January 30

NJHP to start power generation on January 30

Neelum-Jhelum hydropower project would start generation of electricity on January 30, 2017. Chairman National Assembly Standing Committee on Planning Development and Reforms, Abdul Majeed Khan told this to Business Recorder here on Thursday. The ch
Published 09 Dec, 2016 12:00am
The Weather

The Weather

The weather report on Thursday (December 08, 2016) and the forecast for Friday (December 09, 2016).

Published 09 Dec, 2016 12:00am
NJHP to start power generation on January 30

NJHP to start power generation on January 30

Neelum-Jhelum hydropower project would start generation of electricity on January 30, 2017. Chairman National Assembly Standing Committee on Planning Development and Reforms, Abdul Majeed Khan told this to Business Recorder here on Thursday. The ch
Published 09 Dec, 2016 12:00am
Imran rejects commission option

Imran rejects commission option

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan Thursday rejected Supreme Court's proposal to form an inquiry commission for carrying out a thorough investigation into the Panamagate case. "We do not require an inquiry commission to decide the Panama L
Published 09 Dec, 2016 12:00am
Imran rejects commission option

Imran rejects commission option

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan Thursday rejected Supreme Court's proposal to form an inquiry commission for carrying out a thorough investigation into the Panamagate case. "We do not require an inquiry commission to decide the Panama L
Published 09 Dec, 2016 12:00am
Announcement of Panamagate Commission likely today

Announcement of Panamagate Commission likely today

Chief Justice of Pakistan Justice Anwar Zaheer Jamali is likely to announce a one-member commission of the apex court judge today (Friday) to probe the Panamagate case. Chief Justice of Pakistan, Justice Anwar Zaheer Jamali is set to retire on December 30
Published 09 Dec, 2016 12:00am
Announcement of Panamagate Commission likely today

Announcement of Panamagate Commission likely today

Chief Justice of Pakistan Justice Anwar Zaheer Jamali is likely to announce a one-member commission of the apex court judge today (Friday) to probe the Panamagate case. Chief Justice of Pakistan, Justice Anwar Zaheer Jamali is set to retire on December 30
Published 09 Dec, 2016 12:00am
Only PM can make a difference

Only PM can make a difference

In the 1990s the business community was full of praise for Prime Minister Nawaz Sharif because he saved them time and unnecessary harassment by civil servants. He abolished the office of Controller of Imports and Exports, liberalized the foreign exchange
Published 09 Dec, 2016 12:00am
What now, after the tragedy?

What now, after the tragedy?

Who knew the 48 who boarded PK661 at Chitral airport for Islamabad would never make it to the destination. Everything appeared so usual and routine when they boarded the ATR-42. Pop star turned evangelist Junaid Jamshed was returning home, having finished
Published 09 Dec, 2016 12:00am
ECP & declarations

ECP & declarations

Person who was untruthful or dishonest or profligate had no place in discharging the noble task of law making and administering the affairs of State in government office-Muhammad Siddique Baloch v Jehangir Khan Tareen PLD 2016 Supreme Court 97
Published 09 Dec, 2016 12:00am
Challenges for General Bajwa

Challenges for General Bajwa

With many internal and external challenges confronting the nation, the new CoAS was plunged into a testing situation right from the word "go". Stepping up his drive to isolate Pakistan diplomatically during the recent "Heart of Asia" Conference in Amritsa
Published 09 Dec, 2016 12:00am
Youth full Saarc: the awaiting potential to be unleashed

Youth full Saarc: the awaiting potential to be unleashed

The South Asian region is blessed with tremendous natural resources. The region is the largely untapped market of 1.7 billion people and is home to the youngest population of the world. According to the World Bank, one-fifth of the population of South Asi
Published 09 Dec, 2016 12:00am
Wave of gloom pervades across country

Wave of gloom pervades across country

A wave of gloom pervades across Pakistan following the tragic plane crash resulting in the death of all on board. PIA's plane carrying 48 people crashed Wednesday on a domestic flight from the mountainous northern city of Chitral to Islamabad. The Pakista
Published 09 Dec, 2016 12:00am
Bodies of PIA crash victims moved to PIMS

Bodies of PIA crash victims moved to PIMS

The dead bodies of 48 victims of Pakistan International Airlines (PIA) plane crash were shifted to Islamabad on Thursday for their identification through DNA test. A senior official of Pakistan Institute of Medical Sciences (PIMS) Hospital said that 48 bo
Published 09 Dec, 2016 12:00am
US, China, France offer condolences over tragedy

US, China, France offer condolences over tragedy

The United States on Thursday expressed grief over the crash of Pakistan International Airlines (PIA) aircraft which claimed 47 lives. Deputy Spokesman of the US State Department Mark Toner, in a press briefing in Washington, said, "American government an
Published 09 Dec, 2016 12:00am
PAF to transport victims' bodies free of cost

PAF to transport victims' bodies free of cost

Pakistan Air Force (PAF) on Thursday announced to provide free of the cost transportation facilities for bodies of the air crash to their respective places. On the direction of Chief of Air Staff, Air Chief Marshal Sohail Aman, the Civil Aviation authorit
Published 09 Dec, 2016 12:00am
NAB to file two references, authorises three investigations

NAB to file two references, authorises three investigations

The Executive Board Meeting (EBM) of National Accountability Bureau (NAB) was held under the chairmanship of Qamar Zaman Chaudhry, Chairman NAB at NAB Headquarter. The following decisions were made during the Executive Board Meeting (EBM). The EBM decided
Published 09 Dec, 2016 12:00am
Egypt shows interest in JF-17 Thunder aircraft

Egypt shows interest in JF-17 Thunder aircraft

The Minister for Defence Production, Rana Tanveer Hussain, who is on an official visit to Egypt, was received by President Abdel Fattah Al-Sisi, at Ittihadiya Palace, Cairo. President El-Sisi underlined the need to further expand and strengthen bilateral
Published 09 Dec, 2016 12:00am
SECP initiates 54 show-cause proceedings

SECP initiates 54 show-cause proceedings

During October and November 2016, the Securities and Exchange Commission of Pakistan (SECP) initiated 54 show cause proceedings and concluded 50 current proceedings, against the erring management and companies' auditors for various violations of the Ordin
Published 09 Dec, 2016 12:00am
Proceedings begin against owners of two soap makers

Proceedings begin against owners of two soap makers

Directorate of Intelligence and investigation-Inland Revenue (IR) Islamabad has conducted successful raids on two soap manufacturers of Islamabad, allegedly involved in sales tax evasion. According to sources, Directorate of Intelligence and investigation
Published 09 Dec, 2016 12:00am
Proceedings begin against owners of two soap makers

Proceedings begin against owners of two soap makers

Directorate of Intelligence and investigation-Inland Revenue (IR) Islamabad has conducted successful raids on two soap manufacturers of Islamabad, allegedly involved in sales tax evasion. According to sources, Directorate of Intelligence and investigation
Published 09 Dec, 2016 12:00am
First CFTC for uplifting arms manufacturing to be opened soon

First CFTC for uplifting arms manufacturing to be opened soon

First Common Facility and Training Centre (CFTC) for the uplifting of small arms manufacturing cluster of Peshawar and Darra Adam Khel is going to become operational shortly. The facility will be inaugurated by the Federal Minister for Industries and Prod
Published 09 Dec, 2016 12:00am
LPG distributors, minister for import of excessive gas

LPG distributors, minister for import of excessive gas

Chairman Liquefied Petroleum Gas (LPG) Distributors Association Pakistan, Irfan Khokhar and Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi have agreed to feasible the import of in order to provide consumers with cheap gas. In a stateme
Published 09 Dec, 2016 12:00am
Sheikh Zayed Medical Complex approves Rs 4,654 million in new budget

Sheikh Zayed Medical Complex approves Rs 4,654 million in new budget

The Board of Governors of Sheikh Zayed Medical Complex and Hospital, which met here on Thursday, accorded approval of annual budget 2016-17 of Rs 4654.578 million. The Board has also approved in principle the proposal for revamping of Sheikh Zayed Hospita
Published 09 Dec, 2016 12:00am
Tevta, Jinan university to promote Chinese language, training course

Tevta, Jinan university to promote Chinese language, training course

"Technical Education and Vocational Training Authority (Tevta) with the collaboration of Jinan University China will promote Chinese language and other vocational training courses in its institutes. Promotion of Chinese language in Punjab will lead toward
Published 09 Dec, 2016 12:00am
SC directs PFA to submit quality report on packed milk, drinking water

SC directs PFA to submit quality report on packed milk, drinking water

Supreme Court of Pakistan Thursday directed Punjab Food Authority (PFA) to submit comprehensive report about quality of packed/loose milk and drinking water in a petition filed against contaminated and sub-standard milk and water by December 27. Earlier,
Published 09 Dec, 2016 12:00am
Court postpones Qandeel's murder trial

Court postpones Qandeel's murder trial

The brother of a social media starlet, who confessed to strangling his sister in a so-called "honour killing" was due to be brought to court with two alleged accomplices on Thursday, but the trial was postponed because of a lawyers' strike. Model Qandeel
Published 09 Dec, 2016 12:00am
Oil above $50 on hopes for non-OPEC output cuts

Oil above $50 on hopes for non-OPEC output cuts

Oil rebounded from the week's lows to close above $50 a barrel on Thursday, on growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production. Both Brent and US benchmarks rallied after comments by the
Published 09 Dec, 2016 12:00am
Cotton at one-week high
Cotton

Cotton at one-week high

Cotton futures rose to their highest level in about a week on Thursday, supported by robust weekly US export sales data, but gains were limited by a stronger dollar. "We saw an immediate reaction by the market as prices spiked up when the numbers were rel
Published 09 Dec, 2016 12:00am
Response to MoF

Response to MoF

This reply to the Ministry of Finance (MoF) is in continuation of the dialogue with the ministry, through Business Recorder, which started with the publication of our open letter to IMF on the degree of success achieved in the recently concluded Fu
Published 09 Dec, 2016 12:00am
Consultative session on medical teaching facilities

Consultative session on medical teaching facilities

The Punjab Planning and Development Department in collaboration with Punjab Economic Research Institute (PERI) organized a consultative session on "Review of Medical Teaching Facilities" based on a study jointly conducted by P&D and Contech International
Published 09 Dec, 2016 12:00am
FC College team visits Social Welfare Institute

FC College team visits Social Welfare Institute

Director Public Policy and Governance Department of the FC College, Lahore Dr Shafqat Saeed on Thursday visited the Social Welfare Training Institute, Lahore, to check the facilities which are being provided to the special persons who are living in its di
Published 09 Dec, 2016 12:00am
Neelum-Jhelum project cost soars further

Neelum-Jhelum project cost soars further

Water and Power Development Authority (WAPDA) has indicated further increase in the cost of Neelum-Jhelum Hydropower Project by 23.6 per cent (Rs 95 billion) to Rs 500 billion from Rs 404.331 billion estimated in 2015, sources close to Chairman WAPDA told
Published 09 Dec, 2016 12:00am
PIA gives Rs 0.5 million cash to victims' heirs

PIA gives Rs 0.5 million cash to victims' heirs

Pakistan International Airlines (PIA) Thursday announced Rs 500,000 cash for the next of kin of all 47 persons who lost their lives in the tragic PIA plane crash to meet funeral expenses. According to PIA spokesman, on the directions of Chairman and CEO P
Published 09 Dec, 2016 12:00am
LG polls to be conducted in FATA in 2017: minister

LG polls to be conducted in FATA in 2017: minister

Federal Minister for States and Frontier Regions (SAFRON), General Abdul Qadir Baloch (Retd) has said that Local Government elections will be conducted in the Federally Administered Tribal Areas (FATA) during 2017. Addressing a press conference here on Th
Published 09 Dec, 2016 12:00am
Sino-Pak shared exercises improve counter terror skills: CoAS

Sino-Pak shared exercises improve counter terror skills: CoAS

Chief of Army Staff (CoAS) General Qamar Javed Bajwa on Thursday said, "The sharing of best experiences through series of exercises had improved counter terror combat skills of both Chinese and Pakistani troops." He expressed these thoughts while speaking
Published 09 Dec, 2016 12:00am
Austrian, Chinese victims of plane crash worked for Andritz group

Austrian, Chinese victims of plane crash worked for Andritz group

The two Austrians and a Chinese man who died in a plane crash in Pakistan worked for Austrian engineering group Andritz on a hydropower project in the north of the country, a spokesman for the company said on Wednesday. None of the 47 passengers on the Pa
Published 09 Dec, 2016 12:00am
'Dream' century for England's Jennings

'Dream' century for England's Jennings

Batsman Keaton Jennings said scoring a century for England on his debut against India Thursday had been a "dream come true" after waking up a bag of nerves. "I woke up at 5:00 am thinking I'd missed the bus so I jumped out of bed and panicked about where
Published 09 Dec, 2016 12:00am
SBBWU Inter-College Girls Baseball, Handball begin

SBBWU Inter-College Girls Baseball, Handball begin

Shaheed Benazir Bhutto Women University Inter-College Girls Baseball and Handball got under way here at University Larama Campus on Thursday. Vice Chancellor Shaheed Benazir Bhutto Women University Professor Dr Razia Sultana was the chief guest who formal
Published 09 Dec, 2016 12:00am
Master Paints in final of Magic River Polo

Master Paints in final of Magic River Polo

Master Paints qualified for the main final of Magic River Polo Cup 2016 after edging out Terra Energy 8-5 in the Pool-B match played here at the Lahore Polo Club ground on Thursday. In the other Pool-B match played between the losing sides of the league r
Published 09 Dec, 2016 12:00am
Dortmund strike late, beat Madrid to top spot

Dortmund strike late, beat Madrid to top spot

Marco Reus's dramatic equaliser two minutes from time ensured Borussia Dortmund beat holders Real Madrid to top spot in Champions League Group F with a pulsating 2-2 draw on Wednesday. With both sides already qualified, a double from Karim Benzema looked
Published 09 Dec, 2016 12:00am
University of Central Punjab win handball trophy

University of Central Punjab win handball trophy

University of Central Punjab clinched the trophy after defeating Superior University Lahore in the final of the 40th All-Pakistan Inter-University Men Handball Championship being played under the aegis of the Directorate of Sports University of Swabi at i
Published 09 Dec, 2016 12:00am
Asia backs 48-team World Cup, says FIFA boss

Asia backs 48-team World Cup, says FIFA boss

FIFA chief Gianni Infantino on Thursday said Asian countries backed his plan to expand the World Cup to 48 teams - and added that up to three countries should be allowed to co-host the tournament. Infantino, speaking after a three-day FIFA summit in Singa
Published 09 Dec, 2016 12:00am
Barca pledge to revamp crash-hit Brazil outfit

Barca pledge to revamp crash-hit Brazil outfit

Spanish giants Barcelona said Thursday they had pledged to aid the reconstruction of Brazilian side Chapecoense, decimated by an air crash last month in Colombia. The Catalan club said they had invited Chapecoense to participate in the pre-season Joan Gam
Published 09 Dec, 2016 12:00am
Rookie spinner Asghar named for Australia Tests

Rookie spinner Asghar named for Australia Tests

Pakistan Thursday called up 17-year-old left-arm spinner Mohammad Asghar as cover for injured Yasir Shah in the upcoming Test series in Australia. Maestro leg-spinner Shah hurt his back during practice and will be assessed before the first of three Tests
Published 09 Dec, 2016 12:00am
FIFA imposes life bans on two ex-African officials

FIFA imposes life bans on two ex-African officials

Former Zimbabwe Football Association official Jonathan Musavengana and ex-Togo coach Banna Tchanile have been barred from all football-related activity for life by FIFA's ethics committee on Thursday for corruption. The bans handed down by world football'
Published 09 Dec, 2016 12:00am
All top stars confirmed for Aussie Open

All top stars confirmed for Aussie Open

Every player in the world's top 99 bar pregnant Victoria Azarenka has confirmed for the Australian Open, including Roger Federer and Serena Williams as they return from injury, organisers said Thursday.
Published 09 Dec, 2016 12:00am
Thailand in Suzuki final

Thailand in Suzuki final

Thailand thrashed Myanmar 4-0 in Bangkok late Thursday in a ruthless display that sets up a Suzuki Cup final date with Indonesia. Goals from Sarawut Masuk (33'), Theerathon Bunmathan (65') Siroch Chatthong (76') and Chanathip Songkrasin (83') - known in T
Published 09 Dec, 2016 12:00am
Sri Lanka takes rookie pacer to South Africa

Sri Lanka takes rookie pacer to South Africa

Sri Lanka's cricket selectors Thursday named rookie fast bowler Vikum Sanjaya Bandara in a 15-member squad for their three-Test series against South Africa later this month. The uncapped 24-year-old Bandara is one of four pacemen in the squad led by Angel
Published 09 Dec, 2016 12:00am
Bangladesh suffer new injury blow for New Zealand tour

Bangladesh suffer new injury blow for New Zealand tour

Bangladesh's injury-plagued squad suffered a fresh blow ahead of their forthcoming New Zealand tour after fast bowler Shafiul Islam was ruled out with a hamstring injury, an official said Thursday. "Shafiul hurt his left hamstring during a recent Banglade
Published 09 Dec, 2016 12:00am
Johnson wants Chelsea compensation over abuse

Johnson wants Chelsea compensation over abuse

Former Chelsea player Gary Johnson said on Thursday he should receive more financial compensation from the club after being sexually abused by their former chief scout Eddie Heath. It recently emerged Chelsea, the current Premier League leaders, paid John
Published 09 Dec, 2016 12:00am
US MIDDAY: soyabeans fall most in three months

US MIDDAY: soyabeans fall most in three months

US soyabean futures declined by more than 2 percent on Thursday, on pace for their largest losses in three months, on profit-taking tied to lower vegoil prices and extended weather outlooks for rainfall in Argentina, traders and analysts said. US Presiden
Published 09 Dec, 2016 12:00am
EU soybean crushings in coming months at record high

EU soybean crushings in coming months at record high

The European Union's soybean crushings for the year to August 2017 are likely to reach record high volumes but Europe's growing soybean harvest will limit import demand, the head of oilseeds analysts Oil World forecast on Tuesday. "The main reason for the
Published 09 Dec, 2016 12:00am
Brazil's export lull sets stage for record soybean shipments

Brazil's export lull sets stage for record soybean shipments

If there is a silver lining to Brazil's recent shortcomings in grain exports, the country is now more prepared than ever to pump out big volumes in 2017, perhaps to the dismay of its competitors. Brazil is the No 1 and 2 shipper of soybeans and corn, resp
Published 09 Dec, 2016 12:00am
Cocoa falls to multi-year lows, sugar consolidates rally

Cocoa falls to multi-year lows, sugar consolidates rally

New York cocoa futures hit their lowest in more than three years on Wednesday, as traders expect abundant global supplies, also pressuring the London market to a 2-1/2-year trough and taking it to the most technically oversold level in five years. Sugar c
Published 09 Dec, 2016 12:00am
India has sufficient sugar, unlikely to import

India has sufficient sugar, unlikely to import

India is unlikely to need to import sugar in the 2016/17 season despite a drop in production, Abinash Verma, director general of the Indian Sugar Mills Association said on Tuesday. "If the production number we are suggesting at the moment comes out correc
Published 09 Dec, 2016 12:00am
Tokyo rubber falls

Tokyo rubber falls

Benchmark TOCOM rubber futures fell around 1 percent on Thursday after three days of gains, pressured by a stronger yen and weaker oil prices. The Tokyo Commodity Exchange rubber contract for May delivery had fallen 2.8 yen to 240 yen per kg by 0005 GMT,
Published 09 Dec, 2016 12:00am
Colombia coffee output up 25 percent

Colombia coffee output up 25 percent

Colombia produced 1.65 million 60-kg bags of washed arabica coffee in November, up 25 percent from the same month a year earlier, the National Coffee Growers' Federation said on Monday. Exports were up 12 percent last month to 1.25 million bags, the feder
Published 09 Dec, 2016 12:00am
Copper falls as dollar gains after ECB extends bond purchase timeline

Copper falls as dollar gains after ECB extends bond purchase timeline

Copper edged lower on Thursday as the dollar rebounded after the European Central Bank's decision to cut its monthly asset purchases but extend the programme until the end of 2017. The ECB said it would trim asset purchases to 60 billion euros ($64 billio
Published 09 Dec, 2016 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded copper contract on the Shanghai Futures Exchange slipped 1.48 percent to 47,220 yuan ($6,865) a tonne on Thursday, with traders attributing the modest retreat to profit-taking and a switch to equities. "Copper is a little cheaper today and
Published 09 Dec, 2016 12:00am
President links nation's success, progress to self-sufficiency

President links nation's success, progress to self-sufficiency

President Mamnoon Hussain on Thursday said only those nations achieved success and made progress that attained self-sufficiency, owing to their hard work and abilities. Addressing an All Pakistan Conference organised by the Ministry of Planning and Develo
Published 09 Dec, 2016 12:00am
First-ever Chinese Ambassador Scholarship established at QAU

First-ever Chinese Ambassador Scholarship established at QAU

Chinese Ambassador to Pakistan, Sun Weidong here on Thursday inaugurated the Chinese Ambassador Scholarship program for undergraduate and MPhil students at the School of Politics and International Relations (SPIR), Quaid-i-Azam University (QAU). In this c
Published 09 Dec, 2016 12:00am
Indus Motor fourth top seller of Corolla in the world: COO

Indus Motor fourth top seller of Corolla in the world: COO

Indus Motor Company (IMC) Chief Operating Officer (COO) Ali Jamali has claimed that IMC was the fourth highest Corolla seller in the world after USA, China and Brazil. Talking to Business Recorder, he said that up till 2002, Pakistan's auto industr
Published 09 Dec, 2016 12:00am
Country Head of UK's DFID meets KP governor

Country Head of UK's DFID meets KP governor

The Islamabad based Country Head of the UK"s Department For International Development (DFID), Ms Joanna Reid called on the Khyber Pakhtunkhwa Governor, Engineer Iqbal Zafar Jhagra at Pakhtunkhwa House, Islamabad on Thursday. Ms Joanna Reid apprised the Go
Published 09 Dec, 2016 12:00am
Nawaz says Pakistan seeks SAARC's viability

Nawaz says Pakistan seeks SAARC's viability

Prime Minister Nawaz Sharif on Thursday said, "Pakistan continues to believe in the viability of South Asian Association for Regional Cooperation (SAARC)." According to a statement issued by the Foreign Office, the PM expressed these thoughts in his messa
Published 09 Dec, 2016 12:00am
Enormous sacrifices rendered against terrorism: Fatemi

Enormous sacrifices rendered against terrorism: Fatemi

Special Assistant to the Prime Minister on Foreign Affairs Tariq Fatemi has said that Pakistan has rendered enormous sacrifices in war against terrorism. Addressing a function at United States Institute of Peace, Fatemi said that Pakistan has achieved sev
Published 09 Dec, 2016 12:00am
Swedish envoy calls on CJCSC

Swedish envoy calls on CJCSC

Ambass-ador of Sweden, Ingrid Johansson on Thursday called on Chairman Joint Chiefs of Staff Committee (CJCSC), General Zubair Mahmood Hayat at Joint Staff Headquarters, Rawalpindi. Matters related to defence cooperation were discussed during the meeting,
Published 09 Dec, 2016 12:00am
Parties urged to agree on minimum charter on human rights

Parties urged to agree on minimum charter on human rights

Senator Farhatullah Babar Thursday urged the political parties to agree upon a minimum charter of human rights in 2016 and form human rights cells to keep an eye on the human rights situation. He expressed these views during his address at a seminar on hu
Published 09 Dec, 2016 12:00am
Dasu Project: Wapda, affectees reach consensus on land acquisition

Dasu Project: Wapda, affectees reach consensus on land acquisition

Pakistan Water and Power Development Authority (Wapda) reached a consensus with the stakeholders including affectees of Dasu Hydropower Project relating to acquisition of land and infra-structure as well as social sector development in the project area, p
Published 09 Dec, 2016 12:00am
Foreigner held at Islamabad Airport with international currency
Currency

Foreigner held at Islamabad Airport with international currency

Under the ongoing drive against the currency/gold smugglers, customs staff at the Benazir Bhutto International Airport seized foreign currency from an international passenger boarding for Dubai. According to the details, a passenger was passing through AS
Published 09 Dec, 2016 12:00am
Senate body condemns Indian ceasefire violations

Senate body condemns Indian ceasefire violations

The Senate Defence Committee on Thursday passed a resolution to strongly condemn the willful violations across the Line of Control (LoC) and the Working Boundary by India through a systematic aggressive policy. The committee was informed that India violat
Published 09 Dec, 2016 12:00am
Aussie, kiwi up

Aussie, kiwi up

The Australian and New Zealand dollars rose against their US counterpart on Thursday as buoyant equities whetted risk appetites, sending the yen to an 11-month low against the kiwi. The Australian dollar edged up to $0.7490, from a trough of $0.7417 touch
Published 09 Dec, 2016 12:00am
Sterling jumps against euro
Currency

Sterling jumps against euro

Sterling jumped 1 percent against a broadly weaker euro on Thursday after the European Central Bank extended its quantitative easing programme for a longer period than expected, albeit at a slower pace. The ECB said it would continue buying bonds until at
Published 09 Dec, 2016 12:00am
Flash crashes prod central banks towards algo arms race

Flash crashes prod central banks towards algo arms race

Central banks investigating whether computer programmes or an individual triggered October's sterling "flash crash", the latest to hit a major financial market, may consider computerised stabilisation programmes as a possible response. The Financial Times
Published 09 Dec, 2016 12:00am
ECB hope, solid China data support Asia FX, bonds
Currency

ECB hope, solid China data support Asia FX, bonds

Most emerging Asian currencies and bonds rose on Thursday, helped by expectations that the European Central Bank will likely extend its asset-purchase programme at its policy meeting later in the day, keeping investors on the hunt for higher returns in As
Published 09 Dec, 2016 12:00am
China's yuan weakens
Currency

China's yuan weakens

China's yuan weakened against the dollar on Thursday morning, weighed down by companies' demand for the US currency, traders said. The People's Bank of China set the midpoint rate at 6.8731 per dollar prior to market open, firmer than the previous fix of
Published 09 Dec, 2016 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 78.82-78.84 (previous 78.80-78.82).
Published 09 Dec, 2016 12:00am
Dollar declines with bond yields in New York

Dollar declines with bond yields in New York

The US dollar declined on Wednesday as Treasury bond yields eased and investors looked ahead to next week's Federal Reserve meeting, when the US central bank is expected to raise interest rates but adopt a cautious tone on the economy. The dollar against
Published 09 Dec, 2016 12:00am
Early trade in New York: Euro drops on dovish ECB meeting

Early trade in New York: Euro drops on dovish ECB meeting

The euro dropped over 1 percent on Thursday after the European Central Bank extended asset purchases until the end of next year and President Mario Draghi said cuts to the size of the program should not be viewed as tapering. The ECB said it will reduce i
Published 09 Dec, 2016 12:00am
Euro surges then slides in Europe
Currency

Euro surges then slides in Europe

The euro fell more than 1 percent on Thursday after hitting its highest in a month, as the European Central Bank announced an extension of its quantitative easing programme till the end of 2017 but also signalled it would trim monthly bond purchases. Mark
Published 09 Dec, 2016 12:00am
Euro rises in Asia
Currency

Euro rises in Asia

The euro edged up and traded near a three-week high against the dollar on Thursday ahead of a European Central Bank policy decision, as the greenback lost momentum from the recent pull-back in US bond yields. The euro has been the main focus for traders t
Published 09 Dec, 2016 12:00am
Turkish postal service converts $172 million to lira
Currency

Turkish postal service converts $172 million to lira

Turkey's postal service (PTT) on Thursday converted $172 million of foreign exchange into lira, in response to a call from President Tayyip Erdogan to boost the Turkish currency, broadcaster NTV reported. The lira has lost as much as one fifth of its valu
Published 09 Dec, 2016 12:00am
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