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Archive - 2016-12-15
Daimler, BMW aim to merge their carsharing services
Life & Style

Daimler, BMW aim to merge their carsharing services

FRANKFURT: German carmakers Daimler and BMW aim to combine their car-sharing services Car2Go and DriveNow to better compete with US-based ride-hailing service Uber, German monthly Manager Magazin reported, citing sources.
Updated 09 May, 2018 10:03pm
ECC approves salary of PSM
General News

ECC approves salary of PSM

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet here Thursday considered and approved the proposal submitted by the Privatization Division for disbursement of one and a half month salary to Pakistan Steel Mills employees.
Published 15 Dec, 2016 06:12pm
Trump renews questions about US hacking tied to Russia
North America

Trump renews questions about US hacking tied to Russia

WASHINGTON: US President-elect Donald Trump on Thursday raised more questions about Russia's reported role in cyber attacks on US political parties and individuals as well as the timing of the White House's response under President Barack Obama.
Published 15 Dec, 2016 05:55pm
EU parliament warns talks plan risks Brexit deal veto
Europe

EU parliament warns talks plan risks Brexit deal veto

BRUSSELS: The European Parliament could block a Brexit deal for Britain if EU leaders exclude lawmakers from the negotiating process, its outgoing speaker warned on Thursday as the legislature pushes for a bigger role in the talks.
Published 15 Dec, 2016 05:52pm
Full court reference held for outgoing Chief Justice
General News

Full court reference held for outgoing Chief Justice

ISLAMABAD: A full court reference in honour of outgoing Chief Justice of Pakistan (CJP) Anwar Zaheer Jamali was held here on Thursday, who will retire on December 31 after serving the apex court for more than a decade as judge as well as Chief Justice.
Published 15 Dec, 2016 04:00pm
Salman Butt leads WAPDA to maiden Quaid-e-Azam Trophy triumph
Cricket

Salman Butt leads WAPDA to maiden Quaid-e-Azam Trophy triumph

KARACHI: Former Pakistan Test skipper Salman Butt led his team WAPDA to clinch their first-ever Quadi-e-Azam Trophy title, after the final ended in a draw, with WAPDA winning by first innings lead against Habib Bank Limited (HBL) here at the National Stad
Published 15 Dec, 2016 03:59pm
Branchless banking far ahead from commercial banks
Pakistan Top News

Branchless banking far ahead from commercial banks

KARACHI: The State Bank of Pakistan (SBP) has asked conventional banks to re-design their future strategy to remain in the business, as outpaced progress by branchless banking is challenging them.
Published 15 Dec, 2016 03:53pm
Gold slides to 10-month low on post-Fed dollar surge
Commodities

Gold slides to 10-month low on post-Fed dollar surge

LONDON: Gold hit its lowest since early February on Thursday after the Federal Reserve sounded an unexpectedly hawkish note on US interest rates, sparking a surge in Treasury yields and sending the dollar to a 14-year high.
Published 15 Dec, 2016 03:50pm
Cocoa futures fall back on strong dollar, port arrivals
Commodities

Cocoa futures fall back on strong dollar, port arrivals

LONDON: New York cocoa futures fell back on Thursday after three days of gains, following the US Federal Reserve's increase in interest rates which strengthened the dollar, making commodities denominated in the currency relatively more expensive.
Published 15 Dec, 2016 03:48pm
Yields advance on Fed rate hike outlook
Financial

Yields advance on Fed rate hike outlook

NEW YORK: US Treasury yields rose broadly on Thursday, boosted by the prospect of more interest rate increases by the Federal Reserve next year, although those on long-dated bonds came off their highs after fairly tame consumer inflation data for November
Published 15 Dec, 2016 03:42pm
Bank of Canada sees higher household vulnerabilities
Money & Banking

Bank of Canada sees higher household vulnerabilities

OTTAWA: The risk of a sharp correction in Canada's housing market and financial stress on households has increased modestly in the last six months because of the weaker economy but new mortgage rules will cool the market, the Bank of Canada said on Th
Published 15 Dec, 2016 03:35pm
WB report highlights competitiveness enhancement
Pakistan Top News

WB report highlights competitiveness enhancement

LAHORE: Punjab Planning & Development Department, in collaboration with the World Bank group, hosted the launch of new flagship South Asia competitiveness report here on Thursday.
Published 15 Dec, 2016 02:31pm
Pak players in doubles SF in Nepal international badminton
Sports

Pak players in doubles SF in Nepal international badminton

LAHORE: Pakistan's duo of Rizwan Azam and Kashif Sulhari roared into the semi-finals of the Nepal International Series Badminton Tournament, beating hosts pair of Dipesh Dhami and Ratnajit Tamang 21-16, 21-18 in Nepal on Thursday.
Published 15 Dec, 2016 02:30pm
Kuwait expects oil to climb to $60 a barrel
Energy

Kuwait expects oil to climb to $60 a barrel

KUWAIT CITY: Kuwait's new oil minister said Thursday he expects crude prices to climb to $60 a barrel as output cuts agreed by OPEC and non-OPEC producers take hold next year.
Published 15 Dec, 2016 02:10pm
US envoy calls on COAS
Pakistan Top News

US envoy calls on COAS

RAWALPINDI: United States Ambassador to Pakistan David Hale Thursday visited the General Headquarters and called on Chief of Army Staff General Qamar Javed Bajwa.
Published 15 Dec, 2016 02:07pm
Pakistan retains ACG Chairmanship beating India
Industries & Sectors

Pakistan retains ACG Chairmanship beating India

KARACHI: Hanif Jakhura (CEO, Central Depository Company of Pakistan Limited) has been re-elected as the Chairman of Executive Committee of Asia Pacific Central Securities Depository Group (ACG) defeating Nageswara Rao (MD, National Securities Depository L
Published 15 Dec, 2016 02:04pm
CJCSC lays wreath at Mausoleum of Allama Iqbal
General News

CJCSC lays wreath at Mausoleum of Allama Iqbal

RAWALPINDI: Chairman Joint Chiefs of Staff Committee (CJCSC) General Zubair Mahmood Hayat Thursday laid wreath at the Mausoleum of Allama Iqbal to pay homage to the national poet According to an ISPR press release issued here, he offered Fateha during his
Published 15 Dec, 2016 02:04pm
Senate to constitute Pak-Colombia Friendship Group
General News

Senate to constitute Pak-Colombia Friendship Group

ISLAMABAD: Senate would constitute Pakistan-Colombia Friendship Group to explore and establish the parliamentary linkages between two countries to promote people to people contacts and learn from each others experiences.
Published 15 Dec, 2016 02:00pm
Putin himself involved in US election hack: report
North America

Putin himself involved in US election hack: report

WASHINGTON: US intelligence officials now believe that Russian President Vladimir Putin was personally involved in hacking during the American election campaign as part of a vendetta against Hillary Clinton, NBC News reported late Wednesday.
Published 15 Dec, 2016 01:58pm
Businessmen hail PM's economic policies
Business & Economy

Businessmen hail PM's economic policies

ISLAMABAD: The country's leading businessmen and exporters Thursday lauded the business-friendly policies of Prime Minister Muhammad Nawaz Sharif saying the country had gained significant economic stability in three years.
Published 15 Dec, 2016 01:36pm
Colombia keen to enhance trade ties with Pakistan
Business & Economy

Colombia keen to enhance trade ties with Pakistan

ISLAMABAD: Ambassador-designate of Colombia to Pakistan Juan Alfredo Pinto Saavedra Thursday said Colombia was interested to enhance trade relations with Pakistan and the best way to achieve this goal was to develop business linkages between the private s
Published 15 Dec, 2016 01:30pm
Japan grants Rs205mn for face recognition system at airport
Pakistan Top News

Japan grants Rs205mn for face recognition system at airport

ISLAMABAD: Japanese government would provide 200 million Yen, equivalent to Rs 205 million to install advanced Facial Recognition System at airport for security improvement in Pakistan.
Published 15 Dec, 2016 01:25pm
Pak forex stand at $23.295bn
Top News

Pak forex stand at $23.295bn

KARACHI: Total liquid foreign exchange reserves of the country stand at dollars 23.
Published 15 Dec, 2016 01:18pm
European stocks climb as Fed boosts bank sector
Financial

European stocks climb as Fed boosts bank sector

LONDON: Europe's stock markets mostly advanced Thursday with solid gains across the banking sector after the US Federal Reserve hiked interest rates as expected -- and signalled three more rises next year.
Published 15 Dec, 2016 12:53pm
Amir applauded by the Gabba crowd
Cricket

Amir applauded by the Gabba crowd

Pakistan fast bowler Muhammad Amir didnt have the best of the start on the opening day of the first Test match, at the Gabba in Brisbane as the Australian batsmen continued to pound the visitors.
Published 15 Dec, 2016 11:26am
Thousands attend funeral as Junaid Jamshed laid to rest
Front Top News

Thousands attend funeral as Junaid Jamshed laid to rest

KARACHI: Thousands of people offered the funeral prayers of pop-singer-turned-preacher Junaid Jamshed at AKD Ground in the citys DHA phase 8 area, next to Moin Khan Academy.
Published 15 Dec, 2016 11:16am
Market rates of bullion in Lahore
Markets

Market rates of bullion in Lahore

LAHORE: Following bullion rates were received from markets here on Thursday 2016:%DULLION (PER 10 GRAM)%D%A=====================%D%AGOLD TEZABI-24 CT------42260.
Published 15 Dec, 2016 11:15am
Volkswagen takes stake in e-mobility service group Hubject
Industry

Volkswagen takes stake in e-mobility service group Hubject

FRANKFURT: German carmaker Volkswagen has taken a stake in Hubject, which is developing a standard method to map and pay at electric charging stations, joining fellow carmakers, utilities and engineering groups that prepare for an expected e-car boom.
Published 15 Dec, 2016 10:49am
India's Kohli wants to raise an all-time best team
Cricket

India's Kohli wants to raise an all-time best team

CHENNAI: India captain Virat Kohli's grand dream is to raise one of cricket's all-time best teams who would succeed irrespective of conditions and across formats, the 28-year-old said on Thursday.
Published 15 Dec, 2016 10:44am
Britain's May says welcomes EU's Brexit discussions
Europe

Britain's May says welcomes EU's Brexit discussions

BRUSSELS: British Prime Minister Theresa May said she was glad the other 27 EU national leaders will meet without her after a summit on Thursday to discuss how to negotiate Britain's withdrawal from the Union.
Published 15 Dec, 2016 10:37am
Countrys exports rise by 6.2pc; expected 30pc by next year: PM
Pakistan Top News

Countrys exports rise by 6.2pc; expected 30pc by next year: PM

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Thursday said the countrys exports have witnessed a 6.2 percent increase last year and owing to governments effective strategy, these would go up to 30 percent by next year.%D%A
Published 15 Dec, 2016 10:33am
TOCOM soars to 3-year high as speculators keep buying
Commodities

TOCOM soars to 3-year high as speculators keep buying

TOKYO: Benchmark Tokyo rubber futures surged to three-year highs on Thursday, extending gains into a fifth session, as speculators stayed on buying spree, but the market cut some of earlier gains as Shanghai came under pressure in late trade due to profit
Published 15 Dec, 2016 10:26am
Tokyo stocks edge higher after Fed rate hike
Financial

Tokyo stocks edge higher after Fed rate hike

TOKYO: Tokyo's benchmark index squeaked out another fresh high for the year on Thursday, boosted by the yen's slide after the US Federal Reserve announced a long-awaited rate hike and said there would be more next year.
Published 15 Dec, 2016 09:54am
Captain's knock by Smith resists Pakistan
Cricket

Captain's knock by Smith resists Pakistan

BRISBANE: Skipper Steve Smith was leading from the front as Pakistan's bowlers tied down Australia on the opening day of the pink-ball first Test at the Gabba on Thursday.
Published 15 Dec, 2016 09:54am
Hong Kong stocks plunge on Fed rate hike woe
Financial

Hong Kong stocks plunge on Fed rate hike woe

HONG KONG: Shares tumbled in Hong Kong Thursday, led by property firms, after the Federal Reserve lifted interest rates and indicated a further three hikes are likely next year.
Published 15 Dec, 2016 09:42am
Prime Minister criticised for treating Parliament frivolously
Front Top News

Prime Minister criticised for treating Parliament frivolously

NAVEED BUTT%D%AISLAMABAD: Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah termed Prime Minister Nawaz Sharif's statement in the House about his family's assets abroad in the aftermath of Panama Leaks an attack from within t
Published 15 Dec, 2016 09:22am
Time's up for Azhar Ali, warns PCB
Cricket

Time's up for Azhar Ali, warns PCB

Pakistans One Day International (ODI) skipper Azhar Ali captaincy is in hot waters as the batsman has run out of favor from the Pakistan Cricket Board (PCB).
Published 15 Dec, 2016 08:23am
China's yuan falls to over 8-year low on dollar strength
Financial

China's yuan falls to over 8-year low on dollar strength

HONG KONG: China's yuan fell to its weakest level in more than eight years against a broadly stronger US dollar on Thursday after the Federal Reserve raised interest rates and also projected more interest rate increases than earlier expected.
Published 15 Dec, 2016 08:23am
Pakistan, India will consider new talks on water dispute
General News

Pakistan, India will consider new talks on water dispute

RECORDER REPORT%D%AISLAMABAD: Pakistani and Indian officials said Wednesday they would consider resuming direct talks over water sharing after the World Bank halted a process to arbitrate a long-standing dispute over two Indian hydroelectric projects.
Published 15 Dec, 2016 07:43am
Asia stocks, currencies wobble as Fed flags more hikes
Financial

Asia stocks, currencies wobble as Fed flags more hikes

SYDNEY/TOKYO: Asian shares and currencies softened on Thursday after the Federal Reserve raised rates for the first time in a year and hinted at the risk of a faster pace of tightening than investors were positioned for.
Published 15 Dec, 2016 07:27am
Kohli offers vision of India future
Cricket

Kohli offers vision of India future

SYDNEY: Virat Kohli joined the greats with three double-centuries as India dominated Test cricket in a year where 'homeless' Pakistan soared and dived and Australia grappled with crisis.
Published 15 Dec, 2016 06:30am
Murray, Kerber leave rivals playing catch-up in 2017
Sports

Murray, Kerber leave rivals playing catch-up in 2017

PARIS: Andy Murray and Angelique Kerber emerged the standout players of 2016, deposing world number ones Novak Djokovic and Serena Williams, while Roger Federer, Rafael Nadal and Maria Sharapova were left with careers to rebuild.
Published 15 Dec, 2016 06:24am
Dollar surges, most markets sink on Fed rate call
Financial

Dollar surges, most markets sink on Fed rate call

HONG KONG: The dollar surged against its peers Thursday and most Asian markets tumbled after the Federal Reserve indicated it will likely embark on a steeper path of interest rate hikes over the next year.
Published 15 Dec, 2016 06:15am
Syria rebels announce new evacuation deal for Aleppo
Front Top News

Syria rebels announce new evacuation deal for Aleppo

ALEPPO: Syrian rebels announced a new evacuation deal for Aleppo civilians and the injured on Wednesday, after shelling and air strikes sent terrified residents running through the city's streets.
Published 15 Dec, 2016 06:13am
Putin, Abe to hold hot spring meet on WWII island row
World Top News

Putin, Abe to hold hot spring meet on WWII island row

NAGATO: Russia and Japan will hold a summit at a hot spring Thursday aimed at reaching a deal over a group of small islands that have prevented the countries from formally ending their World War II hostilities.
Published 15 Dec, 2016 06:09am
Junaid Jamshed's funeral prayers offered in Karachi
Front Top News

Junaid Jamshed's funeral prayers offered in Karachi

Preparations for funeral prayers of singer-turned preacher Junaid Jamshed, who was killed in the PK-661 air crash last week, will be offered today (Thursday) at Moin Khan Cricket Academy in DHA Phase 8, Karachi.
Published 15 Dec, 2016 05:58am
Equities consolidate

Equities consolidate

Pakistan Stock Exchange (PSX) Wednesday achieved another milestone as the benchmark KSE-100 index, for the first time in history, crossed 46,000 points psychological level to close at 46,185.27 points with healthy increase of 327.38 points. During the ses
Published 15 Dec, 2016 12:00am
Equities consolidate

Equities consolidate

Pakistan Stock Exchange (PSX) Wednesday achieved another milestone as the benchmark KSE-100 index, for the first time in history, crossed 46,000 points psychological level to close at 46,185.27 points with healthy increase of 327.38 points. During the ses
Published 15 Dec, 2016 12:00am
Equities consolidate

Equities consolidate

Pakistan Stock Exchange (PSX) Wednesday achieved another milestone as the benchmark KSE-100 index, for the first time in history, crossed 46,000 points psychological level to close at 46,185.27 points with healthy increase of 327.38 points. During the ses
Published 15 Dec, 2016 12:00am
BRIndex30 gains 196.04 points

BRIndex30 gains 196.04 points

On Wednesday, BRIndex30 opened at 25,709.90 points. It touched an intraday high of 25,930.29 points and an intraday low of 25,528.53 points and closed at 25,905.94 points which was 196.04 points or 0.76 percent higher than previous close. Total volume was
Published 15 Dec, 2016 12:00am
BRIndex30 gains 196.04 points

BRIndex30 gains 196.04 points

On Wednesday, BRIndex30 opened at 25,709.90 points. It touched an intraday high of 25,930.29 points and an intraday low of 25,528.53 points and closed at 25,905.94 points which was 196.04 points or 0.76 percent higher than previous close. Total volume was
Published 15 Dec, 2016 12:00am
Prime Minister criticised for treating Parliament frivolously

Prime Minister criticised for treating Parliament frivolously

Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah termed Prime Minister Nawaz Sharif's statement in the House about his family's assets abroad in the aftermath of Panama Leaks an attack from within the Parliament. The Opposit
Published 15 Dec, 2016 12:00am
Prime Minister criticised for treating Parliament frivolously

Prime Minister criticised for treating Parliament frivolously

Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah termed Prime Minister Nawaz Sharif's statement in the House about his family's assets abroad in the aftermath of Panama Leaks an attack from within the Parliament. The Opposit
Published 15 Dec, 2016 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 15 Dec, 2016 12:00am
Proceedings adjourned to today

Proceedings adjourned to today

Speaker National Assembly Ayaz Sadiq on Wednesday adjourned the proceedings of the House till Thursday (today) when members of Pakistan Tehreek-e-Insaf (PTI) surrounded his rostrum, raised slogans against Prime Minister Nawaz Sharif and caused an uproar d
Published 15 Dec, 2016 12:00am
Proceedings adjourned to today

Proceedings adjourned to today

Speaker National Assembly Ayaz Sadiq on Wednesday adjourned the proceedings of the House till Thursday (today) when members of Pakistan Tehreek-e-Insaf (PTI) surrounded his rostrum, raised slogans against Prime Minister Nawaz Sharif and caused an uproar d
Published 15 Dec, 2016 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Dec, 2016 12:00am
First Pakistan-Russia consultations held

First Pakistan-Russia consultations held

The first Pakistan-Russia consultations on regional issues were held at the Ministry of Foreign Affairs on 13 December 2016. The Russian side was led by Alexander V. Sternik, Head of the Third CIS Department of the Ministry of Foreign Affairs of Russia wh
Published 15 Dec, 2016 12:00am
First Pakistan-Russia consultations held

First Pakistan-Russia consultations held

The first Pakistan-Russia consultations on regional issues were held at the Ministry of Foreign Affairs on 13 December 2016. The Russian side was led by Alexander V. Sternik, Head of the Third CIS Department of the Ministry of Foreign Affairs of Russia wh
Published 15 Dec, 2016 12:00am
China installs weapons systems on artificial islands: US think tank

China installs weapons systems on artificial islands: US think tank

China appears to have installed weapons, including anti-aircraft and anti-missile systems, on all seven of the artificial islands it has built in the South China Sea, a US think tank reported on Wednesday, citing new satellite imagery. The Asia Maritime T
Published 15 Dec, 2016 12:00am
China installs weapons systems on artificial islands: US think tank

China installs weapons systems on artificial islands: US think tank

China appears to have installed weapons, including anti-aircraft and anti-missile systems, on all seven of the artificial islands it has built in the South China Sea, a US think tank reported on Wednesday, citing new satellite imagery. The Asia Maritime T
Published 15 Dec, 2016 12:00am
Major General Saeed made DG Rangers Sindh

Major General Saeed made DG Rangers Sindh

Major General Mohammad Saeed has been appointed as director general (DG) Pakistan Rangers Sindh while Major General Nadeem Anjum has been appointed as Inspector General Frontier Corps in Balochistan, said the Inter-Services Public Relations (ISPR) on Wedn
Published 15 Dec, 2016 12:00am
Major General Saeed made DG Rangers Sindh

Major General Saeed made DG Rangers Sindh

Major General Mohammad Saeed has been appointed as director general (DG) Pakistan Rangers Sindh while Major General Nadeem Anjum has been appointed as Inspector General Frontier Corps in Balochistan, said the Inter-Services Public Relations (ISPR) on Wedn
Published 15 Dec, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
Putin is world's most powerful man, Trump in second: Forbes

Putin is world's most powerful man, Trump in second: Forbes

Vladimir Putin was the world's most powerful person for a fourth straight year in 2016, with US president-elect Donald Trump in second place, Forbes magazine said Wednesday in its annual rankings. "Russia's president has exerted his country's influence in
Published 15 Dec, 2016 12:00am
Putin is world's most powerful man, Trump in second: Forbes

Putin is world's most powerful man, Trump in second: Forbes

Vladimir Putin was the world's most powerful person for a fourth straight year in 2016, with US president-elect Donald Trump in second place, Forbes magazine said Wednesday in its annual rankings. "Russia's president has exerted his country's influence in
Published 15 Dec, 2016 12:00am
Banking sector developments

Banking sector developments

A stable and sound banking sector is the cornerstone of a vibrant economy. Thankfully, its performance continues to be satisfactory in Pakistan. According to the latest quarterly report released by the State Bank on 7th December, 2016, solvency profile of
Published 15 Dec, 2016 12:00am
Back to parliament

Back to parliament

Disappointed over the deferment of the Panama Papers case by the Supreme Court Imran Khan has returned to the National Assembly, ending six-week boycott by members of his Tehreek-e-Insaf. This happened a second time PTI members had boycotted parliamentary
Published 15 Dec, 2016 12:00am
The year end blues

The year end blues

As the year draws to an end there are conflicting views on the current economic situation of Pakistan. On the one hand, the stock market is booming and crossing new heights on a daily basis - the PSX 100 index has crossed 46000 points for the first time i
Published 15 Dec, 2016 12:00am
THE RUPEE: modest fall
Currency

THE RUPEE: modest fall

The rupee tended lower against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee firmly held the overnight levels against dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
Published 15 Dec, 2016 12:00am
Act before it's too late

Act before it's too late

When last month a mysterious smog engulfed the plains of Punjab on both sides of the Pak-India border, all the way down to New Delhi, and people complained of eye irritation and respiratory problems no one seemed to know what the cause might be. Experts l
Published 15 Dec, 2016 12:00am
THE RUPEE: modest fall
Currency

THE RUPEE: modest fall

The rupee tended lower against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee firmly held the overnight levels against dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
Published 15 Dec, 2016 12:00am
European anxiety deepens over 'disruptive' Trump presidency

European anxiety deepens over 'disruptive' Trump presidency

Late last month, Chancellor Angela Merkel's top foreign policy adviser was asked what a Donald Trump presidency would mean for Germany and offered a rather hopeful assessment. The realities of the presidency would force Trump to change his tone, Christoph
Published 15 Dec, 2016 12:00am
Russia helped Trump win election?

Russia helped Trump win election?

This is apropos a Business Recorder news item "CIA says Russia intervened to help Trump win White House" carried by the newspaper on Sunday. According to it, the CIA has concluded that Russia intervened in the 2016 election to help President-elect
Published 15 Dec, 2016 12:00am
US MIDDAY: gold hits 10-month low

US MIDDAY: gold hits 10-month low

Gold turned lower and tapped the lowest in more than 10 months on Wednesday, after the Federal Reserve raised US interest rates by a quarter point and signalled a faster pace of increases next year, causing the US dollar to rally. The Fed ended its two-da
Published 15 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
US MIDDAY: soybeans tumble

US MIDDAY: soybeans tumble

US soybeans futures fell to a three-week low on Wednesday as forecasts for rain in dry areas of Argentina's crop-belt took out some of the weather premium built into the market, traders said. Wheat and corn futures also weakened, but declines were kept in
Published 15 Dec, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
Oil prices fall three percent on stronger dollar, renewed glut worries

Oil prices fall three percent on stronger dollar, renewed glut worries

Oil prices slid more than 3 percent on Wednesday as the dollar jumped after the US Federal Reserve's decision to hike US interest rates and after a jump in crude inventories at the biggest US storage centre renewed concerns about a glut. Crude tumbled to
Published 15 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 Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
Court's five-day physical remand of accused in Baldia factory fire case

Court's five-day physical remand of accused in Baldia factory fire case

An Anti-Terrorism Court (ATC) on Wednesday granted physical remand of Abdur Rehman alias Bhola, the main accused of Baldia Town factory fire. The court granted five days' physical remand of the accused to police, who was produced before the court under st
Published 15 Dec, 2016 12:00am
Head DFID, Shahbaz discuss ongoing projects

Head DFID, Shahbaz discuss ongoing projects

Head of British Department for International Development (DFID) in Pakistan Joanna Reid met Punjab Chief Minister Shahbaz Sharif and discussed ongoing projects with the collaboration of DFID in the province. She appreciated the extraordinary measures take
Published 15 Dec, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 14, 2016)

Published 15 Dec, 2016 12:00am
IMC on CPEC, Gwadar Port concludes

IMC on CPEC, Gwadar Port concludes

A two-day International Maritime Conference (IMC) on CPEC and Gwadar Port concluded at Gwadar Wednesday. The conference was organised under the auspices of Pakistan Navy in co-ordination with Ministry of Planning, Development and Reform and Parliamentary
Published 15 Dec, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
CEIF-IBA to conduct discussion today

CEIF-IBA to conduct discussion today

Centre for Excellence in Islamic Finance (CEIF-IBA) has announced to organise a panel discussion on "Exploring Islamic Finance Development and Opportunities in China" today (Thursday) at IBA City Campus. Ahmed Ali Siddiqui founding Director CEIF at Instit
Published 15 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Dec, 2016 12:00am
KP government urged to take prompt action against timber mafia

KP government urged to take prompt action against timber mafia

Residents of Chitral have voiced concern over mushroom cutting down of trees in various parts of the district, and demanding of the provincial government to take prompt action against timber mafia to safe gushing forests in the district.
Published 15 Dec, 2016 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Dec, 2016 12:00am
Businessman's account attached/frozen over money-laundering charges

Businessman's account attached/frozen over money-laundering charges

The ongoing drive to act against individuals and businesses involved in money laundering, Regional Directorate of Intelligence and Investigation, Inland Revenue Peshawar has attached/frozen undeclared bank account of a businessman/owner of a trading compa
Published 15 Dec, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 14, 2016).

Published 15 Dec, 2016 12:00am
Arrested before they could fly out with the gold
Currency

Arrested before they could fly out with the gold

To nab organised gangs smuggling foreign currencies and brining gold into Pakistan, customs authorities have implemented a foolproof system at Benazir Bhutto Islamabad International Airport and foiled a major attempt to smuggle gold in the country on Wedn
Published 15 Dec, 2016 12:00am
The Weather

The Weather

The weather report on Wednesday (December 14, 2016) and the forecast for Thursday (December 15, 2016).

Published 15 Dec, 2016 12:00am
Highest literary award announced for Kishwar Naheed

Highest literary award announced for Kishwar Naheed

The literary jury has announced the highest literary award "Kamal e Fun" 2015 for renowned scholar Kishwar Naheed here at Pakistan Academy of Letters (PAL). Chairman PAL Professor Dr Muhammad Qasim Bughio and jury comprised of writers and scholars includi
Published 15 Dec, 2016 12:00am
Boxer Amir warns wife, parents over domestic tussle

Boxer Amir warns wife, parents over domestic tussle

Famous Pakistani-born boxer Amir Khan has strictly warned his parents and wife to stop discussing domestic issues publicly. In a Snapchat post which he shared on Twitter, Khan said, "The dispute should be resolved or else my parents will lose a son and my
Published 15 Dec, 2016 12:00am
India urged to resolve Kashmir issue peacefully

India urged to resolve Kashmir issue peacefully

Chairman Hurriyet Forum, Mirwaiz Umar Farooq has said, "India has no option but to accept Jammu and Kashmir as a dispute and take solid steps to resolve it." In a media interview here, he said, "RSS backed forces have unleashed a cultural and political on
Published 15 Dec, 2016 12:00am
Fazlur Rehman says Nawaz has emerged from difficult times

Fazlur Rehman says Nawaz has emerged from difficult times

Jamiat-e-Ulema-e-Islam Chief Maulana Fazlur Rehman while strongly criticising the PTI chief Imran Khan said that it was wastage of time to speak about his acts. Talking to media in Sukkur , Maulana Fazlur Rehman said the PTI issue should be taken seriousl
Published 15 Dec, 2016 12:00am
K-E gears up action against power thieves, defaulters

K-E gears up action against power thieves, defaulters

K-Electric has geared up action against power thieves and defaulters in different areas of the city. As per press KE release, its team took action against some of the defaulters belonging to a residential apartment complex Marine Drive in Clifton, who owe
Published 15 Dec, 2016 12:00am
Four ministries asked for joint draft of blood screening bill

Four ministries asked for joint draft of blood screening bill

The Senate Joint Committee has asked four ministries to submit the consensus draft on the Premarital Blood Screening (Family Laws Amendment) Bill, 2016 with reference to blood screening for thalassaemia only. A joint meeting of the Senate Standing Committ
Published 15 Dec, 2016 12:00am
KP Assembly demands FATA's merger

KP Assembly demands FATA's merger

Khyber Pakhtunkhwa Assembly on Wednesday passed a resolution demanding the merger of Federally Administered Tribal Area (FATA) in Khyber Pakhtunkhwa. The house resumed proceedings with Speaker Assad Qaisar in the chair. The resolution was moved by Dr Haid
Published 15 Dec, 2016 12:00am
PTI submits motions against Nawaz in National Assembly Secretariat

PTI submits motions against Nawaz in National Assembly Secretariat

Pakistan Tehreek-e-Insaf (PTI) Wednesday submitted privilege and adjournment motions under rule 109 of Rules of Business against Prime Minister Nawaz Sharif in the National Assembly Secretariat. Both the motions having signatures of 20 PTI leaders, includ
Published 15 Dec, 2016 12:00am
New chandelier at Quaid's Mausoleum to be unveiled

New chandelier at Quaid's Mausoleum to be unveiled

A new and glittering chandelier installed at the mausoleum of Quaid-e-Azam Mohammad Ali Jinnah is all set to be unveiled on Saturday by President Mamnoon Hussain. Chinese Ambassador in Pakistan Sun Weidong will also grace the handing over taking over cere
Published 15 Dec, 2016 12:00am
FPBC, UMT sign LoA

FPBC, UMT sign LoA

Finland Pakistan Business Council (FPBC) and University of Management and Technology (UMT) on Wednesday signed a Letter of Agreement (LoA) for long-term co-operation towards the development of education in Pakistan. According to an announcement of the FPB
Published 15 Dec, 2016 12:00am
PTI decides to form parliamentary board for candidates' scrutiny

PTI decides to form parliamentary board for candidates' scrutiny

Pakistan Tehreek-e-Insaf (PTI) Wednesday decided to form a parliamentary board for selection and scrutiny of candidates all over the country for the next general elections. Moreover, the PTI has decided to utilise the time till next hearing in Panamagate
Published 15 Dec, 2016 12:00am
KMC plans crackdown for recovery of its vehicles

KMC plans crackdown for recovery of its vehicles

Karachi Metropolitan Corporation (KMC) is going to crackdown on its former officers and the officials of Karachi Development Authority (KDA) to recover nearly 100 KMC's vehicles. The directive came from Mayor Karachi Waseem Akhtar who was presiding over a
Published 15 Dec, 2016 12:00am
Nayha Junaid's body handed over to relatives

Nayha Junaid's body handed over to relatives

The body of singer-turned-preacher Junaid Jamshed's wife Nayha Junaid was handed over to her relatives on Wednesday. Nayha Junaid's body is being shifted from District Headquarters (DHQ) Hospital to Lahore in an ambulance. Earlier, the remains of more tha
Published 15 Dec, 2016 12:00am
Sindh CM assures full support to Karachi mayor

Sindh CM assures full support to Karachi mayor

Sindh Chief Minister Syed Murad Ali Shah has said that service to the people of Karachi is above politics and party affiliations. "This is my city as it belongs to other citizens and we all have to make it neat, clean and beautiful." He expressed these vi
Published 15 Dec, 2016 12:00am
Telenor Group's first Global Impact Report unveiled

Telenor Group's first Global Impact Report unveiled

Reiterating its commitment to empowering the Pakistani society, Telenor Pakistan has unveiled Telenor Group's first Global Impact Report quantifying the socio-economic impact of the Group's contributions in its 13 global markets including Pakistan. Commis
Published 15 Dec, 2016 12:00am
'Pakistan to take off as regional economic power' because of CPEC

'Pakistan to take off as regional economic power' because of CPEC

CPEC, 'One Belt and One Road' global initiative of China has provided Pakistan the golden opportunity to take off as a regional economic power. Pakistan has been unable to grow and develop as fast as its neighbours in South Asia, on account of poor infras
Published 15 Dec, 2016 12:00am
NAB recovers Rs 1.7 billion, disposes of 6,613 complaints

NAB recovers Rs 1.7 billion, disposes of 6,613 complaints

National Accountability Bureau (NAB), Karachi has recovered around Rs 1.739 billion while 6613 complaints have also been disposed of in 2016. This was stated by DG NAB Karachi Siraj ul Naeem at a seminar on "Role of State Institutions in Promoting Account
Published 15 Dec, 2016 12:00am
First Edhi Award in pre-hospital care

First Edhi Award in pre-hospital care

Mir Afzal Khan of Edhi Foundation and Saeed Khan of Aman Foundation were the winners of first annual Edhi Award for Pre-hospital Care. The award has been initiated by The Aman Foundation, in collaboration with the Edhi Foundation and ceremony for the firs
Published 15 Dec, 2016 12:00am
Business leaders urge promotion of logistic sector
Cotton

Business leaders urge promotion of logistic sector

Chairman Businessmen Panel and Pakistan Business Group Alliance of FPCCI, Mian Zahid Hussain, Presidential candidate Abdul Rahim Janoo and candidate for SVP Mian Anjum Nisar for FPCCI Elections 2017 have said that government should promote logistics secto
Published 15 Dec, 2016 12:00am
PNSC holds rescue drill

PNSC holds rescue drill

Pakistan National Shipping Corporation (PNSC) has recently conducted a rescue and emergency fire drill in scenario of Shipping and industrial fire accidents frequently occurred in various organizations. Brigadier Rashid Siddiqui (Retd), Executive Director
Published 15 Dec, 2016 12:00am
Second polio case detected in Badin

Second polio case detected in Badin

A second case of polio was detected in Badin district on Wednesday, according to World Health Organisation (WHO) representative and health officials. Six-year-old Imran, son of Javed Jat, and a resident of Mohammad Qasim Jat village near Badin's Kario Gha
Published 15 Dec, 2016 12:00am
FBR wing seeks to smoothen importers' profiling system

FBR wing seeks to smoothen importers' profiling system

Directorate General of Intelligence and Investigation (DGI&I)- FBR (Customs Enforcement) is planning to recommend to the Board to streamline importers profiling system, following brazen move committed by one of the importers to clear misdeclared consignme
Published 15 Dec, 2016 12:00am
Farmers advised to irrigate crops according to weather

Farmers advised to irrigate crops according to weather

The Met Office has asked the farmers to sow winter vegetables on time for a better output. It also urged the farmers of irrigated areas to irrigate their crop as per requirement keeping in view the continuing dry weather in most of the agricultural plains
Published 15 Dec, 2016 12:00am
Siemens posts Rs 2,103.9 million profit after tax

Siemens posts Rs 2,103.9 million profit after tax

Siemens (Pakistan) Engineering Company has posted Rs 2,103.952 million as profit after tax in the year ended September 30, 2016 as compared to after tax loss of Rs 528.234 million in the corresponding period in previous year. The company's earning per sha
Published 15 Dec, 2016 12:00am
Siemens posts Rs 2,103.9 million profit after tax

Siemens posts Rs 2,103.9 million profit after tax

Siemens (Pakistan) Engineering Company has posted Rs 2,103.952 million as profit after tax in the year ended September 30, 2016 as compared to after tax loss of Rs 528.234 million in the corresponding period in previous year. The company's earning per sha
Published 15 Dec, 2016 12:00am
MCB-AH launches Islamic Investment Division 'AlHamra'

MCB-AH launches Islamic Investment Division 'AlHamra'

MCB-Arif Habib Savings and Investments Limited (MCB-AH), under the patronage of world renowned Shariah Scholars announced the launch of AlHamra, a dedicated Islamic Investment Division this morning. The launch event was attended by prominent businessmen,
Published 15 Dec, 2016 12:00am
SNGPL organises free medical camp

SNGPL organises free medical camp

Sui Northern Gas Pipelines Limited (SNGPL) organised a three-day free medical camp at Head Office Lahore for the employees. The medical camp, organised by Health Safety & Environment (HSE) Department, provides free medical check-up to SNGPL employees.
Published 15 Dec, 2016 12:00am
Dar seeks long-term plan for FDI boost

Dar seeks long-term plan for FDI boost

Finance Minister Ishaq Dar has directed the Chairman of the Board of Investment (BoI) to formulate a long-term plan to attract Foreign Direct Investment (FDI) in various sectors, as decline in investment is a serious concern for the government. Dar on Wed
Published 15 Dec, 2016 12:00am
BoD to discuss amendments to NCCPL Regulations on December 20

BoD to discuss amendments to NCCPL Regulations on December 20

The Board of Directors of the National Clearing Company of Pakistan Limited (NCCPL) will discuss amendments to NCCPL Regulations pursuant to extension of Capital Gains Tax (CGT) regime to the unit holders of mutual funds and investors of Pakistan Mercanti
Published 15 Dec, 2016 12:00am
BoD to discuss amendments to NCCPL Regulations on December 20

BoD to discuss amendments to NCCPL Regulations on December 20

The Board of Directors of the National Clearing Company of Pakistan Limited (NCCPL) will discuss amendments to NCCPL Regulations pursuant to extension of Capital Gains Tax (CGT) regime to the unit holders of mutual funds and investors of Pakistan Mercanti
Published 15 Dec, 2016 12:00am
'Modern organisation needs to exhibit strong business foundation'

'Modern organisation needs to exhibit strong business foundation'

President and CEO of UBL Wajahat Husain was recently invited to deliver the keynote address at the Pakistan Professionals Wing (PPW) Forum in Dubai. Established in 1987 by a group of Dubai and Sharjah-based Pakistani professionals, PPW aims to contribute
Published 15 Dec, 2016 12:00am
CCP holds seminar on 'competition advocacy academia drive'

CCP holds seminar on 'competition advocacy academia drive'

The Competition Commission of Pakistan (CCP) held a seminar at the International Islamic University Islamabad in connection with the 'Competition Advocacy Academia Drive' started by CCP to create awareness of the competition law. The seminar was attended
Published 15 Dec, 2016 12:00am
34 bodies of crash victims identified: Minister

34 bodies of crash victims identified: Minister

Minister of State for Capital Administration and Development Division (CADD), Dr Tariq Fazal Chaudhry has said that 34 dead bodies of PIA plane crash (PK-661) victims have been identified. Talking to media here on Wednesday outside Pakistan Institute of M
Published 15 Dec, 2016 12:00am
Exports down $3.7 billion since 2013, National Assembly told

Exports down $3.7 billion since 2013, National Assembly told

Pakistan recorded a downfall of $3.7 billion in exports from June 30, 2013 to June 30, 2016 while the total volume of the country's exports has declined from $24.5 billion in fiscal year 2013 to $20.8 billion in fiscal year 2016. Minister for Commerce Khu
Published 15 Dec, 2016 12:00am
Askari Bank becomes first to open branch at Gwadar Port

Askari Bank becomes first to open branch at Gwadar Port

Askari Bank opens its new branch at the Gwadar Port premises. The branch was inaugurated by Dostain Khan Jamaldini Chairman Gwadar Port Authority. Present on the occasion were Rashid Nawaz Tipu Group Head - Askari Bank, Rashid Iqbal Shaikh Regional Genera
Published 15 Dec, 2016 12:00am
Al Baraka Bank launches automobile dealership campaign

Al Baraka Bank launches automobile dealership campaign

Pakistan's leading Islamic bank, Al Baraka Bank (Pakistan) Limited launched a phenomenal automobile dealership campaign in a local hotel here in Karachi. All the top automobile dealership CEOs and their teams from across the country were invited to this c
Published 15 Dec, 2016 12:00am
New book on Babur launched

New book on Babur launched

Embassy of Republic of Uzbekistan and Institute of Peace and Diplomatic Studies (IPD) jointly organised book launching ceremony of "Zaheer Uddin Babur" written by Pirimkul Kyderov and translated & printed by National Book Foundation in Urdu Language at th
Published 15 Dec, 2016 12:00am
Dar directs SECP to consult stakeholders on Draft Modaraba Act

Dar directs SECP to consult stakeholders on Draft Modaraba Act

Federal Finance Minister Senator Ishaq Dar on Wednesday directed the Security Exchange Commission of Pakistan (SECP) to consult all the relevant stakeholders on Draft Modaraba Companies and Modaraba (Floatation and Control) Ordinance, (Amendment) Act, 201
Published 15 Dec, 2016 12:00am
Fingers indicate remains of plane's first officer

Fingers indicate remains of plane's first officer

The body of First Officer of PK-661 flight that had accidentally fallen in Havelian last week was identified. According to a statement issued by the Interior Ministry on Wednesday, First Officer Ali Akram's body was identified by his fingers.
Published 15 Dec, 2016 12:00am
Seven envoys present their credentials

Seven envoys present their credentials

President Mamnoon Hussain has said Pakistan is desirous of further promoting friendly and brotherly relations with all countries particularly with its neighbours for peace, stability and prosperity in the region. The President was talking to Envoys Design
Published 15 Dec, 2016 12:00am
Skardu shivers in -08°C

Skardu shivers in -08°C

The fresh snowfall in northern areas dropped mercury on the scale to minus 8 degree centigrade, as several cold gripped most parts of the country. The Pakistan Meteorological Department (PMD) has forecast more snowfall and rain. It said dense foggy condit
Published 15 Dec, 2016 12:00am
Salaries up for Special Management Group members

Salaries up for Special Management Group members

Prime Minister Nawaz Sharif on Wednesday gave approval for an increase in salaries of Special Management Group with immediate effect. Sources said the decision to give an increase in salaries has been taken after four years. The salaries of MP-I, MP-II an
Published 15 Dec, 2016 12:00am
Senate panel condemns Indian minister's anti-Pakistan statement

Senate panel condemns Indian minister's anti-Pakistan statement

The Senate Standing Committee on Interior and Narcotics Control on Wednesday unanimously passed a resolution condemning Indian Home Minister's anti-Pakistan statement, asking the government of Pakistan to summon the Indian High Commissioner on the issue a
Published 15 Dec, 2016 12:00am
AGP trashes PAC directive on third-part audit

AGP trashes PAC directive on third-part audit

The Auditor General of Pakistan (AGP), the top institution for ensuring public accountability and fiscal transparency in governmental operations, has swept under the carpet the directive of Public Accounts Committee (PAC) for a third-party audit of the af
Published 15 Dec, 2016 12:00am
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