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Archive - 2016-12-25
Chile lifts tsunami alert following quake
World

Chile lifts tsunami alert following quake

SANTIAGO: Chile lifted a tsunami alert it had issued for its southern coast following a powerful offshore quake Sunday, the head of the country's national emergencies office said.
Published 25 Dec, 2016 04:27pm
PPP Co-Chairman Asif Zardari, Bilawal visit Mazar-e-Quaid
Front Top News

PPP Co-Chairman Asif Zardari, Bilawal visit Mazar-e-Quaid

KARACHI: Former President of Pakistan and co-chairman of PPP, Asif Ali Zardari, on Sunday visited the mausoleum of Quaid-e- Azam Muhammad Ali Jinnah, to pay homage to the Father of the Nation on his 140th birthday.
Published 25 Dec, 2016 02:52pm
CPEC golden opportunity for backward areas development: Imran
Pakistan Top News

CPEC golden opportunity for backward areas development: Imran

SWABI: Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Sunday said that the Chaina Pakistan Economic Corridor (CPEC) was a golden opportunity for the backward areas of the country to prosper and make development.
Published 25 Dec, 2016 02:48pm
China's aircraft carrier to drill in Western Pacific
Asia

China's aircraft carrier to drill in Western Pacific

BEIJING: China's first aircraft carrier will carry out drills in the Western Pacific, in what the navy called part of routine exercises, amid renewed tension over self-ruled Taiwan that Beijing claims as its own.
Published 25 Dec, 2016 02:34pm
India won't impose long-term capital gains tax: Arun Jaitley
Asia

India won't impose long-term capital gains tax: Arun Jaitley

MUMBAI: India's finance minister on Sunday said the government does not plan to impose a long-term capital gains tax, a day after Prime Minister Narendra Modi suggested that people earning from financial markets must make a "fair contribution" to nati
Published 25 Dec, 2016 02:31pm
Two civilians kills in north Cameroon suicide blast
Africa

Two civilians kills in north Cameroon suicide blast

YAOUND: A suicide bomber apparently targeting a religious site on Christmas day killed two civilians in northern Cameroon, a region often hit by Boko Haram militants from Nigeria, the local governor said Sunday.
Published 25 Dec, 2016 02:15pm
Unity to make country `Quaid's Pakistan': minister
General News

Unity to make country `Quaid's Pakistan': minister

ISLAMABAD: Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb Sunday urged the people, particularly the young generation, to stand united to make the country `Quaid's Pakistan' and`Quaid's identity'.
Published 25 Dec, 2016 02:00pm
PMA Kakul cadets mount guard's duty at Mazar-e-Quaid
General News

PMA Kakul cadets mount guard's duty at Mazar-e-Quaid

KARACHI: A smartly turned out contingent of Gentlemen Cadets from the Pakistan Military Academy (PMA), Kakul, mounted ceremonial guard at the Mazar of Quaid-e-Azam Mohammad Ali Jinnah here on Sunday, as part of celebrations to mark the Birth Anniversary o
Published 25 Dec, 2016 01:57pm
Egypt targets 5pc economic growth by mid-2018
World

Egypt targets 5pc economic growth by mid-2018

CAIRO: Egypt targets a five percent economic growth rate in the year to June 2018, the finance ministry said Sunday as the government seeks to revive an economy battered by political turmoil.
Published 25 Dec, 2016 01:27pm
Guardiola pleased with rejuvenated Sterling
Football

Guardiola pleased with rejuvenated Sterling

KINGSTON UPON HULL: Manchester City manager Pep Guardiola believes winger Raheem Sterling has recaptured his best form in time for the club's hectic festive programme in the Premier League.
Published 25 Dec, 2016 12:32pm
Santa Claus is coming to Tehran
Middle East

Santa Claus is coming to Tehran

TEHRAN: Tehran might not seem like the most obvious pitstop for Santa Claus, but Iranians love the chintzy side of Christmas and it is also one of the safest places in the Middle East for Christians.
Published 25 Dec, 2016 12:28pm
Indonesian police kill two terror suspects
Asia

Indonesian police kill two terror suspects

JAKARTA: Indonesian police Sunday killed two terror suspects and arrested two more, only days after foiling separate plans by an IS-linked group for a Christmas-time suicide bombing near the capital.
Published 25 Dec, 2016 12:14pm
High-security Christmas as crowds await pope's message
Europe

High-security Christmas as crowds await pope's message

VATICAN CITY: Tens of thousands of worshippers were set to gather at the Vatican on Sunday to hear Pope Francis address the world's Christians, as Europe marked Christmas under ramped-up security after the Berlin attack.
Published 25 Dec, 2016 12:04pm
Queen Elizabeth to miss Christmas church service
Front Top News

Queen Elizabeth to miss Christmas church service

SANDRINGHAM: Queen Elizabeth II is to miss the Christmas Day church service attended by the British royal family as she continues to suffer from a heavy cold, Buckingham Palace said Sunday.
Published 25 Dec, 2016 12:00pm
Du Plessis looks to negate Sri Lankan spin
Cricket

Du Plessis looks to negate Sri Lankan spin

PORT ELIZABETH: South African captain Faf du Plessis said he hoped a grassy St George's Park pitch would negate Sri Lanka's spin threat in the first Test starting on Monday.
Published 25 Dec, 2016 11:58am
Iran rial hits fresh record low
Financial

Iran rial hits fresh record low

TEHRAN: Iran's currency plumbed new lows against the dollar on Sunday, continuing a six-month decline that has seen the rial lose some 17 percent of its value despite the lifting of sanctions.
Published 25 Dec, 2016 11:54am
Tens of thousands flee Christmas Day typhoon in Philippines
Asia

Tens of thousands flee Christmas Day typhoon in Philippines

DARAGA: Babies, toddlers and old people were loaded onto military trucks in pouring rain in the Philippines on Sunday as tens of thousands fled the path of a powerful typhoon barrelling towards the disaster-prone archipelago.
Published 25 Dec, 2016 11:53am
Powerful typhoon slams into the Philippines
Asia

Powerful typhoon slams into the Philippines

MANILA: A powerful typhoon with gusts reaching 235 kilometres (146 miles) an hour made landfall in the eastern Philippines late on Sunday, the state weather service said.
Published 25 Dec, 2016 11:41am
Pakistan frees 220 Indian fishermen
Pakistan Top News

Pakistan frees 220 Indian fishermen

KARACHI: Pakistan on Sunday released 220 Indian fishermen held for trespassing into its territorial waters as a "goodwill gesture" to its nuclear-armed rival India, officials said.
Published 25 Dec, 2016 10:17am
Saudi surges on budget, Saudi Electricity leaps
Financial

Saudi surges on budget, Saudi Electricity leaps

DUBAI: Saudi Arabia's stock market surged in early trade on Sunday in response to the release of the 2017 state budget, which includes an increase in government spending next year to support flagging economic growth.
Published 25 Dec, 2016 09:51am
Putin, Rouhani welcome Aleppo 'victory'
Front Top News

Putin, Rouhani welcome Aleppo 'victory'

TEHRAN: Iran's President Hassan Rouhani and his Russian counterpart Vladimir Putin welcomed the "Syrian army's victory against the terrorists in Aleppo" during a late-night phone call, Iranian media reported on Sunday.
Published 25 Dec, 2016 09:09am
Putin orders government to probe plane crash: Kremlin
Europe

Putin orders government to probe plane crash: Kremlin

MOSCOW: President Vladimir Putin has ordered the government to probe the crash of a Syria-bound military plane carrying 92 people including more than 60 Red Army Choir members, the Kremlin said Sunday.
Published 25 Dec, 2016 09:05am
Australia keep Maddinson in unchanged Test side
Cricket

Australia keep Maddinson in unchanged Test side

MELBOURNE: Rookie batsman Nic Maddinson will be given another chance to prove himself after Australia Sunday named an unchanged team for the second Test against Pakistan in Melbourne.
Published 25 Dec, 2016 07:21am
Syria-bound Russian military jet crashes with 91 onboard
World Top News

Syria-bound Russian military jet crashes with 91 onboard

MOSCOW: A Russian military plane crashed Sunday in the Black Sea as it made its way to Syria with 91 people onboard, including musicians heading to celebrate the New Year with troops.
Published 25 Dec, 2016 07:20am
Pakistan confident after pushing Australia close: Misbah
Cricket

Pakistan confident after pushing Australia close: Misbah

MELBOURNE: A strong fourth innings fightback that had nearly clinched a remarkable record run chase in the first test loss to Australia in Brisbane had given Pakistan the confidence they needed for the rest of the series, captain Misbah-ul-haq has said.
Published 25 Dec, 2016 07:02am
PM wishes Christians `Merry Christmas; lauds minorities' patriotism
Front Top News

PM wishes Christians `Merry Christmas; lauds minorities' patriotism

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif has wished the Christians living in Pakistan and across the world a `Merry Christmas' and appreciated the patriotism and dedicated role of minorities' communities in Pakistan for peace, development a
Published 25 Dec, 2016 06:23am
Christmas being celebrated today

Christmas being celebrated today

Christian community in Pakistan is celebrating Christmas marking the birth anniversary of Jesus Christ with religious fervour on Sunday (today). Special services will be held in Churches across the country. Special prayers will be made for the country's p
Published 25 Dec, 2016 12:00am
Christmas being celebrated today

Christmas being celebrated today

Christian community in Pakistan is celebrating Christmas marking the birth anniversary of Jesus Christ with religious fervour on Sunday (today). Special services will be held in Churches across the country. Special prayers will be made for the country's p
Published 25 Dec, 2016 12:00am
Nisar for appointment of NAB chief by SC

Nisar for appointment of NAB chief by SC

Interior Minister Chaudhry Nisar Ali Khan Saturday dismissed the rumours of PPP co-chairman Asif Ali Zardari's return to the country as a result of any deal. He also ruled out any link between Rangers' raid on the offices of former President's close aide
Published 25 Dec, 2016 12:00am
Nisar for appointment of NAB chief by SC

Nisar for appointment of NAB chief by SC

Interior Minister Chaudhry Nisar Ali Khan Saturday dismissed the rumours of PPP co-chairman Asif Ali Zardari's return to the country as a result of any deal. He also ruled out any link between Rangers' raid on the offices of former President's close aide
Published 25 Dec, 2016 12:00am
No rapprochement with PML-N: PPP

No rapprochement with PML-N: PPP

Advisor to Chief Minister Sindh on Information, Maula Bakhsh Chandio on Saturday said that PML-N is a party of narrow-minded folks and there can be no rapprochement with them. Talking to media at Bilawal House Karachi he also warned that PML-N has to go n
Published 25 Dec, 2016 12:00am
No rapprochement with PML-N: PPP

No rapprochement with PML-N: PPP

Advisor to Chief Minister Sindh on Information, Maula Bakhsh Chandio on Saturday said that PML-N is a party of narrow-minded folks and there can be no rapprochement with them. Talking to media at Bilawal House Karachi he also warned that PML-N has to go n
Published 25 Dec, 2016 12:00am
No pressure on judiciary: Justice Nisar

No pressure on judiciary: Justice Nisar

Designate Chief Justice of Pakistan Mian Saqib Nisar has said that there is no pressure on judiciary and judges should dispense justice with patience on merit. Justice Nisar said bar is a complete institution but today there is dearth of training and etiq
Published 25 Dec, 2016 12:00am
No pressure on judiciary: Justice Nisar

No pressure on judiciary: Justice Nisar

Designate Chief Justice of Pakistan Mian Saqib Nisar has said that there is no pressure on judiciary and judges should dispense justice with patience on merit. Justice Nisar said bar is a complete institution but today there is dearth of training and etiq
Published 25 Dec, 2016 12:00am
'Pause' decision to hurt water interests, World Bank told

'Pause' decision to hurt water interests, World Bank told

Finance Minister Ishaq Dar on Saturday wrote a letter to Jim Yong Kim, President of the World Bank Group and responded to the Bank's decision to "pause" the process of empanelment of the Court of Arbitration. The Finance Minister emphasised in his letter
Published 25 Dec, 2016 12:00am
'Pause' decision to hurt water interests, World Bank told

'Pause' decision to hurt water interests, World Bank told

Finance Minister Ishaq Dar on Saturday wrote a letter to Jim Yong Kim, President of the World Bank Group and responded to the Bank's decision to "pause" the process of empanelment of the Court of Arbitration. The Finance Minister emphasised in his letter
Published 25 Dec, 2016 12:00am
''Pause'' decision to hurt water interests, World Bank told

''Pause'' decision to hurt water interests, World Bank told

Finance Minister Ishaq Dar on Saturday wrote a letter to Jim Yong Kim, President of the World Bank Group and responded to the Bank''s decision to "pause" the process of empanelment of the Court of Arbitration. The Finance Minister emphasised in his letter
Published 25 Dec, 2016 12:00am
''''Pause'''' decision to hurt water interests, World Bank told

''''Pause'''' decision to hurt water interests, World Bank told

Finance Minister Ishaq Dar on Saturday wrote a letter to Jim Yong Kim, President of the World Bank Group and responded to the Bank''''s decision to "pause" the process of empanelment of the Court of Arbitration. The Finance Minister emphasised in his lett
Published 25 Dec, 2016 12:00am
India starts 'water terrorism' process

India starts 'water terrorism' process

With India looking at full exploitation of the Indus Waters Treaty (IWT) with Pakistan, a high-level inter-ministerial task force held its first meeting on Friday, focusing on bringing India's Punjab and occupied Jammu & Kashmir on board for speeding up w
Published 25 Dec, 2016 12:00am
India starts 'water terrorism' process

India starts 'water terrorism' process

With India looking at full exploitation of the Indus Waters Treaty (IWT) with Pakistan, a high-level inter-ministerial task force held its first meeting on Friday, focusing on bringing India's Punjab and occupied Jammu & Kashmir on board for speeding up w
Published 25 Dec, 2016 12:00am
India starts ''water terrorism'' process

India starts ''water terrorism'' process

With India looking at full exploitation of the Indus Waters Treaty (IWT) with Pakistan, a high-level inter-ministerial task force held its first meeting on Friday, focusing on bringing India''s Punjab and occupied Jammu & Kashmir on board for speeding up
Published 25 Dec, 2016 12:00am
India starts ''''water terrorism'''' process

India starts ''''water terrorism'''' process

With India looking at full exploitation of the Indus Waters Treaty (IWT) with Pakistan, a high-level inter-ministerial task force held its first meeting on Friday, focusing on bringing India''''s Punjab and occupied Jammu & Kashmir on board for speeding u
Published 25 Dec, 2016 12:00am
Quaid's birth anniversary today

Quaid's birth anniversary today

The 140th birth anniversary of the founder of Pakistan, Quaid-e-Azam Mohammad Ali Jinnah, is being celebrated here on December 25 (today) with great fervor. The day is a public holiday and the national flag will be hoisted on principal government building
Published 25 Dec, 2016 12:00am
Quaid's birth anniversary today

Quaid's birth anniversary today

The 140th birth anniversary of the founder of Pakistan, Quaid-e-Azam Mohammad Ali Jinnah, is being celebrated here on December 25 (today) with great fervor. The day is a public holiday and the national flag will be hoisted on principal government building
Published 25 Dec, 2016 12:00am
Saudi to sell 49% of Aramco within decade

Saudi to sell 49% of Aramco within decade

Saudi Arabia plans to sell up to 49 percent of its oil giant Saudi Aramco within 10 years as the world's largest crude exporter tries to lower its deficit, local media said Saturday. The Al-Eqtisadiah daily quoted an unnamed official as saying the sale wo
Published 25 Dec, 2016 12:00am
Saudi to sell 49% of Aramco within decade

Saudi to sell 49% of Aramco within decade

Saudi Arabia plans to sell up to 49 percent of its oil giant Saudi Aramco within 10 years as the world's largest crude exporter tries to lower its deficit, local media said Saturday. The Al-Eqtisadiah daily quoted an unnamed official as saying the sale wo
Published 25 Dec, 2016 12:00am
Saudi to sell 49% of Aramco within decade

Saudi to sell 49% of Aramco within decade

Saudi Arabia plans to sell up to 49 percent of its oil giant Saudi Aramco within 10 years as the world''s largest crude exporter tries to lower its deficit, local media said Saturday. The Al-Eqtisadiah daily quoted an unnamed official as saying the sale w
Published 25 Dec, 2016 12:00am
Chief ministers to attend JCC meeting of CPEC in Beijing

Chief ministers to attend JCC meeting of CPEC in Beijing

The Chief Ministers (CMs) from all provinces of Pakistan are expected to attend upcoming meeting of Joint Co-operation Committee (JCC) of China-Pakistan Economic Corridor (CPEC) here on December 29. The JCC meeting will review the progress about the ongoi
Published 25 Dec, 2016 12:00am
Chief ministers to attend JCC meeting of CPEC in Beijing

Chief ministers to attend JCC meeting of CPEC in Beijing

The Chief Ministers (CMs) from all provinces of Pakistan are expected to attend upcoming meeting of Joint Co-operation Committee (JCC) of China-Pakistan Economic Corridor (CPEC) here on December 29. The JCC meeting will review the progress about the ongoi
Published 25 Dec, 2016 12:00am
Chief ministers to attend JCC meeting of CPEC in Beijing

Chief ministers to attend JCC meeting of CPEC in Beijing

The Chief Ministers (CMs) from all provinces of Pakistan are expected to attend upcoming meeting of Joint Co-operation Committee (JCC) of China-Pakistan Economic Corridor (CPEC) here on December 29. The JCC meeting will review the progress about the ongoi
Published 25 Dec, 2016 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Sunday (December 25) on account of birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah and Christmas. Arrangements have, however, been made to bring out the newspaper and Internet edition
Published 25 Dec, 2016 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Sunday (December 25) on account of birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah and Christmas. Arrangements have, however, been made to bring out the newspaper and Internet edition
Published 25 Dec, 2016 12:00am
PSO receivables soar by Rs 34 billion in one year

PSO receivables soar by Rs 34 billion in one year

The receivables of Pakistan State Oil are said to have increased by Rs 34 billion just in one year period due to "measured" payments by the public sector entities, especially "out of crisis" power sector and Pakistan International Airlines (PIA). Well-inf
Published 25 Dec, 2016 12:00am
People rendered immense sacrifices for restoration of peace: Khattak

People rendered immense sacrifices for restoration of peace: Khattak

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that the people of province have given immense sacrifices for establishment of peace and tranquility, as they emerged victorious in uprooting terrorism. "Our successful fight "Zarb-e-Azb" operation
Published 25 Dec, 2016 12:00am
Rs 279.1 billion released for various schemes under PSDP

Rs 279.1 billion released for various schemes under PSDP

The government has released Rs 279.1 billion (35 percent), including Rs 58.6 billion foreign aid, for different development projects under the Public Sector Development Programme (PSDP) 2016-17 against the total budget allocation of Rs 800 billion. Accord
Published 25 Dec, 2016 12:00am
US approves sale of night vision equipment to Pakistan

US approves sale of night vision equipment to Pakistan

The US Department of Defence has awarded a $284.6 million contract to Lockheed Martin to produce infrared target sight systems for the US Navy and Pakistan. The system will be used for the AH-1Z Cobra attack helicopters, which have proved very effective i
Published 25 Dec, 2016 12:00am
US approves sale of night vision equipment to Pakistan

US approves sale of night vision equipment to Pakistan

The US Department of Defence has awarded a $284.6 million contract to Lockheed Martin to produce infrared target sight systems for the US Navy and Pakistan. The system will be used for the AH-1Z Cobra attack helicopters, which have proved very effective i
Published 25 Dec, 2016 12:00am
Government decides to become overly guarded, secretive

Government decides to become overly guarded, secretive

Disturbed by leakage of secret and confidential papers to media, Cabinet Division has barred ministries and divisions from sharing classified information, including cabinet papers, with the media, well-informed sources in the Petroleum Ministry told Bu
Published 25 Dec, 2016 12:00am
Government decides to become overly guarded, secretive

Government decides to become overly guarded, secretive

Disturbed by leakage of secret and confidential papers to media, Cabinet Division has barred ministries and divisions from sharing classified information, including cabinet papers, with the media, well-informed sources in the Petroleum Ministry told Bu
Published 25 Dec, 2016 12:00am
Zardari unveils party strategy

Zardari unveils party strategy

Just a day after returning to Pakistan from Dubai and ending a self-imposed exile of a year and a half, co-chairman Pakistan People's Party (PPP) Asif Ali Zardari has finalised a party strategy to win the next general elections in 2018. In a party meeting
Published 25 Dec, 2016 12:00am
Zardari unveils party strategy

Zardari unveils party strategy

Just a day after returning to Pakistan from Dubai and ending a self-imposed exile of a year and a half, co-chairman Pakistan People's Party (PPP) Asif Ali Zardari has finalised a party strategy to win the next general elections in 2018. In a party meeting
Published 25 Dec, 2016 12:00am
Independent directors to be one-third of each PSE board

Independent directors to be one-third of each PSE board

The proportion of independent directors on the boards of public sector companies is being changed from a majority to a minimum of one-third of the total board under the Securities and Exchange Commission of Pakistan (SECP) proposed rules. Sources told
Published 25 Dec, 2016 12:00am
Independent directors to be one-third of each PSE board

Independent directors to be one-third of each PSE board

The proportion of independent directors on the boards of public sector companies is being changed from a majority to a minimum of one-third of the total board under the Securities and Exchange Commission of Pakistan (SECP) proposed rules. Sources told
Published 25 Dec, 2016 12:00am
Independent directors to be one-third of each PSE board

Independent directors to be one-third of each PSE board

The proportion of independent directors on the boards of public sector companies is being changed from a majority to a minimum of one-third of the total board under the Securities and Exchange Commission of Pakistan (SECP) proposed rules. Sources told
Published 25 Dec, 2016 12:00am
Saga of electoral reforms

Saga of electoral reforms

Given that electoral culture of a country keeps morphing in resonance to the obtaining socio-political and economic milieu the existing laws anywhere would tend to fall short of ensuring perfect conditions for fair and free elections. The election laws an
Published 25 Dec, 2016 12:00am
Let there be a referendum on merger

Let there be a referendum on merger

The best time to determine the future of Federally Administered Tribal Areas (FATA) was in 1948 when tribal leaders 'from across the borders of British India' pledged loyalty to the newly-created Pakistan. The second best time is perhaps now even when the
Published 25 Dec, 2016 12:00am
Taxes for growth - II

Taxes for growth - II

Black economy and tax losses:Tackling the twin menaces of black money and tax evasion has always been a failure in Pakistan. The study, What is hidden, in the hidden economy of Pakistan? size, causes, issues and implications, by Ahmed Gulzar, Novai
Published 25 Dec, 2016 12:00am
Is the Iran nuclear deal already being violated?

Is the Iran nuclear deal already being violated?

Before Donald Trump has even arrived in the White House, Iran says the United States has already violated the nuclear deal and threatened to build atomic-powered ships in retaliation. Is the historic accord at risk? Earlier this month, US lawmakers renewe
Published 25 Dec, 2016 12:00am
Jhagra felicitates Christian community on Christmas

Jhagra felicitates Christian community on Christmas

Khyber Pakhtunkhwa Governor, Iqbal Zafar Jhagra has felicitated Christian community on the happy occasion of Christmas. In his special felicitation message issued on the eve of the festivities of Christmas here Saturday, the KP Governor said "I feel deep
Published 25 Dec, 2016 12:00am
Work on rural roads causing positive impact on agriculture economy: CM

Work on rural roads causing positive impact on agriculture economy: CM

Punjab Chief Minister Muhammad Shehbaz Sharif presided over a high level meeting on Saturday to review progress of Khadim-e-Punjab Rural Roads Programme. Addressing the meeting, the Chief Minister said that work was being carried out speedily on construct
Published 25 Dec, 2016 12:00am
Daesh has no permanent presence in KP: IGP

Daesh has no permanent presence in KP: IGP

Inspector General of Police, Khyber Pakhtunkhwa, Nasir Durrani on Saturday claimed that Daesh (ISIS) has no permanent presence in the province, adding that militants of other banned groups were using the name of Daesh for their activities. According to IG
Published 25 Dec, 2016 12:00am
KP to conduct out-of-school children survey from next year

KP to conduct out-of-school children survey from next year

The Khyber Pakhtunkhwa Department of Elementary and Secondary Education started training of field staff for Census for out-of-school children across the province to begin from next year. This was shared by Muhammad Ayyaz, Assistant Director and focal pers
Published 25 Dec, 2016 12:00am
Wapda working towards harvesting water resources, visitors told

Wapda working towards harvesting water resources, visitors told

WAPDA Advisor (Diamer Basha Dam Project), Dr Izhar-ul-Haq said that WAPDA is working on a number of projects for harnessing the water resources to meet the increasing requirement of water and electricity in the country. He was briefing a delegation of PAF
Published 25 Dec, 2016 12:00am
Sindh government declares public holiday on December 27

Sindh government declares public holiday on December 27

The government of Sindh has announced a public holiday across the province on Tuesday, December 27 on account of the death anniversary of former prime minister Benazir Bhutto. The provincial government has issued a notification according to which all offi
Published 25 Dec, 2016 12:00am
China-cutting: remand of alleged mastermind extended till January 10

China-cutting: remand of alleged mastermind extended till January 10

An accountability court on Saturday extended judicial remand of China-cutting mastermind Shakir Langra till January 10. Shakir Langra was produced in the court on Saturday. The accountability judge extended judicial remand of the accused till January 10.
Published 25 Dec, 2016 12:00am
APHC condemns house detention of Geelani

APHC condemns house detention of Geelani

All Parties Hurriyet Conference (APHC) on Saturday strongly condemned the continued house detention of its Chairman, Syed Ali Geelani. In a statement issued in Srinagar, APHC spokesman said the detention of Syed Ali Geelani is the frustration of the puppe
Published 25 Dec, 2016 12:00am
Zardari will soon go back: Talal

Zardari will soon go back: Talal

PML-N leader Talal Chaudhry has reacted over the statement of Advisor to CM Sindh and expressed that Maula Bakhsh Chandio should first clean the garbage of the province in which he is residing. Talal Chaudhry revealed that the former president Asif Ali Za
Published 25 Dec, 2016 12:00am
Pakistan, Uzbekistan agree to boost economic ties
Cotton

Pakistan, Uzbekistan agree to boost economic ties

Uzbekistan's Deputy Prime Minister Ulugbek Rozukulov on Saturday said that Pakistan is a very important country and his country wants to enhance bilateral ties in various fields including trade. The government, masses and business community of Uzbekistan
Published 25 Dec, 2016 12:00am
President highlights significance of Green Line Bus Project

President highlights significance of Green Line Bus Project

President Mamnoon Hussain has said that the Green Line Bus project will provide modern travelling facilities to the commuters in Karachi. Speaking during a briefing given to him about the Green Line Bus Project in Karachi on Saturday, he said the project
Published 25 Dec, 2016 12:00am
Man killed by FC in Kohistan?

Man killed by FC in Kohistan?

A 23-year old man was shot dead following an argument between Frontier Corps (FC) personnel and locals over the alleged assault of a taxi driver by FC men in Kamaila bazaar of Kohistan district on Saturday. The residents of the area blocked the Karakorum
Published 25 Dec, 2016 12:00am
Indian military official commits suicide

Indian military official commits suicide

A member of Indian Army-backed terrorist militia, Village Defence Committee, committed suicide on Saturday in Udhampur district of Jammu region. This incident of suicide raised the number of such deaths amongst Indian troops, police personnel and VDC memb
Published 25 Dec, 2016 12:00am
KP PDWP approves 63 projects worth Rs 27.262 billion

KP PDWP approves 63 projects worth Rs 27.262 billion

The Provincial Development Working Party (PDWP) Khyber Pakhtunkhwa held its meeting under the Chairmanship of Muhammad Azam Khan, the Additional Chief Secretary (ACS) Khyber Pakhtunkhwa. The meeting was attended by Shahab Ali Shah, Secretary P&D Departmen
Published 25 Dec, 2016 12:00am
'Café 1969' raided for GST evasion

'Café 1969' raided for GST evasion

The Directorate General of Intelligence and Investigation Inland Revenue (IR), Federal Board of Revenue (FBR), has conducted a raid on a restaurant (Café 1969), Shakarparian, Islamabad for its alleged involvement in sales tax evasion. Sources told Busi
Published 25 Dec, 2016 12:00am
PMEX lists Brent crude oil futures contracts

PMEX lists Brent crude oil futures contracts

Pakistan Mercantile Exchange (PMEX), the country's only multi-commodity futures exchange, launched Brent Crude Oil Futures Contracts, duly approved by the Securities and Exchange Commission of Pakistan (SECP). These contracts are cash settled with trading
Published 25 Dec, 2016 12:00am
PMEX lists Brent crude oil futures contracts

PMEX lists Brent crude oil futures contracts

Pakistan Mercantile Exchange (PMEX), the country's only multi-commodity futures exchange, launched Brent Crude Oil Futures Contracts, duly approved by the Securities and Exchange Commission of Pakistan (SECP). These contracts are cash settled with trading
Published 25 Dec, 2016 12:00am
78 projects of 2,796 megawatts may be completed by 2020

78 projects of 2,796 megawatts may be completed by 2020

The government is working on a total of 78 renewable energy projects, including solar, wind and biomass, with a cumulative capacity of 2,796 megawatts and they are all expected to be completed by 2020. According to official documents available with Bus
Published 25 Dec, 2016 12:00am
Siraj criticises Modi for 'water terrorism'

Siraj criticises Modi for 'water terrorism'

Chief of Jamaat e Islami, Pakistan, Senator Sirajul Haq, has warned Indian Premier Modi that any attempt to block Pakistan's share of river water would have serious consequences. Addressing the JI Central Shoora at Mansoora, on Saturday, he exhorted the r
Published 25 Dec, 2016 12:00am
JI Shoora expresses concerns over IHK situation

JI Shoora expresses concerns over IHK situation

The Central Shoora of the Jamaat e Islami has expressed grave concern over the continuous state terrorism in Held Kashmir and has called upon the government to convene an immediate meeting of the OIC to highlight India's excesses and Modi's nefarious desi
Published 25 Dec, 2016 12:00am
PR's revenues up twofold in PML-N's tenure: Minister

PR's revenues up twofold in PML-N's tenure: Minister

Railways Minister Khawaja Saad Rafique on Saturday claimed that annual income of Pakistan Railways (PR) has increased one hundred percent during the last three and half years. Talking to media persons after inaugurating the 'Rehabilitated Diesel Locomotiv
Published 25 Dec, 2016 12:00am
Shahbaz to ensure implementation of court's verdict

Shahbaz to ensure implementation of court's verdict

Punjab Chief Minister Muhammad Shahbaz Sharif on Saturday presided over a high level meeting to review the matters regarding appointment of Vice Chancellors in universities of the province in the light of decision of the High Court. He directed concerned
Published 25 Dec, 2016 12:00am
Fruits, vegetables, pulses: clear policy sought on import

Fruits, vegetables, pulses: clear policy sought on import

The President Hyderabad Chamber of Small Traders and Small Industry Muhammad Akram Ansari has demanded the Minister for National Food, Security and Research to formulate a clear policy for import of fruits, vegetables and pulses during off season so that
Published 25 Dec, 2016 12:00am
APCAA concerned over KICT's non-professional attitude

APCAA concerned over KICT's non-professional attitude

All Pakistan Customs Agents Association (APCAA) has expressed its concern over non-professional attitude showed by the Karachi International Containers Terminal (KICT) in handling and grounding of the containers. The concern was expressed by Arshad Jamal,
Published 25 Dec, 2016 12:00am
Rise in cotton output likely
Cotton

Rise in cotton output likely

With improved weather conditions, the country is expected to get a 10.6 million bales of cotton crop during this season (2016-17). Traders and market experts said the country's cotton crop is likely to improve during this season compared to previous seaso
Published 25 Dec, 2016 12:00am
Pakistan not created to become a theocratic state: Zardari

Pakistan not created to become a theocratic state: Zardari

The central thought of the Father of Nation Mohammed Ali Jinnah in creating Pakistan was to make a democratic and progressive state and not a theocratic one in which thoughts and actions of individuals are controlled by a few in the name of ideology. This
Published 25 Dec, 2016 12:00am
UBL, Mastercard launch 50 percent cashback campaign

UBL, Mastercard launch 50 percent cashback campaign

UBL, Pakistan's Best Bank 2016,has launched the 50 percent cashback campaign in collaboration with MasterCard and MCR Private Limited. MCR manages world renowned food brands Pizza Hut and Burger King in Pakistan. With this offer, customers can avail up to
Published 25 Dec, 2016 12:00am
Pakistan, Turkey inch towards finalisation of FTA

Pakistan, Turkey inch towards finalisation of FTA

Pakistan and Turkey have inched towards finalisation of Free Trade Agreement (FTA) during the 5th Round of Pakistan-Turkey Free Trade Agreement (FTA) negotiations held in Ankara on 21-23 December, 2016. Pakistan delegation was headed by Mian Asad Hayauddi
Published 25 Dec, 2016 12:00am
Zardari summons lawyers to discuss Dr Asim's case

Zardari summons lawyers to discuss Dr Asim's case

A day after his arrival in Karachi after staying in Dubai for 18 months of self-imposed exile, Pakistan Peoples Party (PPP) co-chairperson Asif Ali Zardari on Saturday summoned senior lawyers to discuss Dr Asim Hussain's case. Expressing dissatisfaction o
Published 25 Dec, 2016 12:00am
BEd, Med: SU announces schedule for non-formal exams

BEd, Med: SU announces schedule for non-formal exams

The Controller of examinations (Annual), University of Sindh, Jamshoro has notified for information of all concerned candidates that the BEd and MEd non-formal programme annual examinations 2015 will begin on Thursday, December 29, 2016 at Faculty of Educ
Published 25 Dec, 2016 12:00am
Boy dies after falling down elevator shaft

Boy dies after falling down elevator shaft

A twelve-year-old boy was tragically killed on Saturday after falling through an elevator shaft in a residential building in Saddar area of Karachi. The deceased was identified as Zain Ullah who was the only child of his parents. Locals offered funeral pr
Published 25 Dec, 2016 12:00am
Indian government asked to release 156 Pakistani fishermen

Indian government asked to release 156 Pakistani fishermen

Workers rights groups on Saturday asked the BJP-led 'fascist' government to release some 156 Pakistani fishermen including children languishing in its jails, saying that the 'silent war' had widely victimized the poor seafarers of the both nations. The de
Published 25 Dec, 2016 12:00am
'Financial access a key driver in developing SME sector'

'Financial access a key driver in developing SME sector'

Member KCCI and Executive Director AMTF Ateeq Ur Rehman has demanded from the government and financial institutions for building active SME portfolios in banking sector and "capacity to finance SMEs". He said that SMEs are still missing from Bank's radar.
Published 25 Dec, 2016 12:00am
Newly-elected body of SUOWA takes oath

Newly-elected body of SUOWA takes oath

The newly elected office-bearers of Sindh University Officers' Welfare Association (SUOWA) formally took oath at the swearing-in ceremony held in the Senate Hall of the Administration Block. The Election Chairman Muhammad Mashooque Siddiqui administered o
Published 25 Dec, 2016 12:00am
FPCCI forum for patronizing paper industry

FPCCI forum for patronizing paper industry

Chairman Businessmen Panel and Pakistan Business Group Alliance of FPCCI Mian Zahid Hussain, Presidential Candidate Abdul Rahim Janoo, candidate for Sr. Vice President Mian Anjum Nisar for FPCCI Elections 2017 & Chief Convener Election Cell Syed Abdul Wah
Published 25 Dec, 2016 12:00am
Businessmen invited to 'Aleeshan Pakistan' expo in Tehran

Businessmen invited to 'Aleeshan Pakistan' expo in Tehran

Pakistan Ambassador to Iran Asif Khan Durrani has invited the Pakistani businessmen to participate in the exhibition "Aleeshan Pakistan" being held from March 4 to 7 in Tehran. He was talking to President of the Lahore Chamber of Commerce and Industry (LC
Published 25 Dec, 2016 12:00am
Measles claims 9 lives in Balochistan

Measles claims 9 lives in Balochistan

Nine children have died and about 40 others were affected to as measles has taken the shape of epidemic. According to details, measles broke out in Awaran district of Balochistan. The dreadful disease resulted in death of five children of a family in Mash
Published 25 Dec, 2016 12:00am
Bangladesh police arrest reporter

Bangladesh police arrest reporter

A local television journalist in Bangladesh has been arrested for inciting unrest in one of the country's biggest garment manufacturing zones, police said Saturday. Nazmul Huda has been accused of "inaccurate reporting" on almost daily protests in Ashulia
Published 25 Dec, 2016 12:00am
Burundi cracks down on foreign NGOs
Currency

Burundi cracks down on foreign NGOs

Burundi's parliament has passed a law imposing strict controls on international non-governmental organisations after President Pierre Nkurunziza accused such groups of backing an insurrection against him. Nkurunziza had announced the bill just after his d
Published 25 Dec, 2016 12:00am
'Star Wars' actress Carrie Fisher has mid-air heart attack

'Star Wars' actress Carrie Fisher has mid-air heart attack

Doctors were battling to save Hollywood star Carrie Fisher on Friday after she suffered a massive heart attack near the end of a transatlantic flight. The 60-year-old "Star Wars" actress was preparing to land in Los Angeles when she went into cardiac arre
Published 25 Dec, 2016 12:00am
Sri Lanka clears navy spies of killing Tamil MP

Sri Lanka clears navy spies of killing Tamil MP

A Sri Lankan court Saturday acquitted five men, including three navy intelligence officers, charged with assassinating an opposition Tamil legislator whose party immediately raised concerns about judicial integrity. Nadaraja Raviraj, who represented the T
Published 25 Dec, 2016 12:00am
Snow storm bears down on western US

Snow storm bears down on western US

A winter storm was taking aim on Saturday at the US West and Midwest where it was expected to dump heavy snow and freezing rain, causing headaches for millions of holiday travelers who were hitting the road over the weekend, forecasters said. Winter storm
Published 25 Dec, 2016 12:00am
Modi hints tough decisions to help economy

Modi hints tough decisions to help economy

India will not hesitate to make tough decisions to help support its growing economy, Prime Minister Narendra Modi said on Saturday, alluding to his recent scrapping of 500 and 1,000 rupee banknotes to tackle endemic corruption. Modi told an event organise
Published 25 Dec, 2016 12:00am
Iraqis mark Christmas Eve in town recaptured from jihadists

Iraqis mark Christmas Eve in town recaptured from jihadists

Iraqi Christians held a Christmas Eve service in a town near Mosul on Saturday for the first time since its recapture from the jihadists. The Islamic State group destroyed crosses at the Mar Shimoni church in the town of Bartalla and set it alight, but vo
Published 25 Dec, 2016 12:00am
FBI warns of possible attacks in US

FBI warns of possible attacks in US

US federal authorities cautioned local law enforcement on Friday to be aware that supporters of Islamic State have been calling for their sympathizers to attack holiday gatherings in the United States, including churches, a law enforcement official said.
Published 25 Dec, 2016 12:00am
Queen Elizabeth's granddaughter loses baby

Queen Elizabeth's granddaughter loses baby

Queen Elizabeth II's eldest granddaughter has lost her baby, a spokeswoman for Zara and Mike Tindall said here on Saturday. The couple had announced on November 30 that they were expecting their second child. The baby would have been 18th in line to the B
Published 25 Dec, 2016 12:00am
Blast in Aleppo; two die

Blast in Aleppo; two die

2 people were killed on Saturday in a blast at an ammunitions warehouse formerly used by rebels in the battered Syrian city of Aleppo, state media reported. State news agency SANA said the explosion took place at a school that had been transformed into "a
Published 25 Dec, 2016 12:00am
Germany hunts possible accomplices of Berlin attacker

Germany hunts possible accomplices of Berlin attacker

Germany was hunting for possible accomplices of the suspected Berlin truck attacker Saturday, a day after he was killed in a shoot-out with Italian police in Milan. As most of the country readied to celebrate Christmas Eve, Germany's under-pressure author
Published 25 Dec, 2016 12:00am
Hamas welcomes landmark UN vote on Israel settlements

Hamas welcomes landmark UN vote on Israel settlements

Hamas on Saturday welcomed a landmark UN Security Council vote demanding a halt to Israeli settlements in occupied territory, with the Palestinian Islamist movement saying it marked an "important evolution." The UN Security Council on Friday demanded that
Published 25 Dec, 2016 12:00am
Criticism of team, captain Smith just 'bizarre': Warner

Criticism of team, captain Smith just 'bizarre': Warner

Australia vice-captain David Warner has found it "bizarre" that pundits and fans continue to criticise the team despite winning their last two test matches after a run of five losses. Australia beat Pakistan by 39 runs in a thrilling finish in the first t
Published 25 Dec, 2016 12:00am
South Africa favourites to beat visiting Sri Lanka

South Africa favourites to beat visiting Sri Lanka

South Africa will look to produce a dominant series display against Sri Lanka, starting with the first test in Port Elizabeth on Monday, to build on last month's triumph in Australia. Even without leading trio AB de Villiers, Dale Steyn and Morne Morkel,
Published 25 Dec, 2016 12:00am
Nick Kyrgios ready for scrutiny

Nick Kyrgios ready for scrutiny

Australia's Nick Kyrgios said Saturday he was ready for scrutiny at next month's Australian Open, as the volatile star prepares for his comeback after a playing ban. The controversial 21-year-old said his forced hiatus from tennis - when a meltdown at the
Published 25 Dec, 2016 12:00am
Del Potro out of Australian Open

Del Potro out of Australian Open

On-going fitness issues have forced Juan Martin del Potro out of next month's Australian Open and his planned warm up event in New Zealand, organisers of the Auckland Classic announced Saturday. "Juan Martin del Potro has confirmed he will withdraw from t
Published 25 Dec, 2016 12:00am
Man United have lost traditions: Moyes

Man United have lost traditions: Moyes

Former Manchester United manager David Moyes says the club have abandoned their traditions ahead of his return to Old Trafford with Sunderland on Boxing Day. Moyes, 53, lasted just 10 months as United manager after succeeding his Scottish compatriot Alex
Published 25 Dec, 2016 12:00am
FCCI teams play friendly match

FCCI teams play friendly match

Healthy sports activities are imperative to build a healthy society in Pakistan and in this connection the efforts of the private sector along with government is highly appreciable, said Talal Badar Chaudhary, Federal Parliamentary Secretary for Science a
Published 25 Dec, 2016 12:00am
America's Keys to miss Australian Open

America's Keys to miss Australian Open

American Madison Keys, who finished the 2016 season ranked eighth in the world, will miss the Australian Open tennis championships after minor wrist surgery. "I will not be ready to play the 2017 Australian Open," Keys, 21, said in a Twitter posting in wh
Published 25 Dec, 2016 12:00am
Sri Lanka underdogs in South Africa series

Sri Lanka underdogs in South Africa series

Sri Lanka will be underdogs when they challenge a resurgent South Africa in a three-Test series starting at St George's Park on Monday - but will hope that the traditionally slow pitch in Port Elizabeth will negate South Africa's strong fast bowling attac
Published 25 Dec, 2016 12:00am
FIFA looking at player behaviour: Van Basten

FIFA looking at player behaviour: Van Basten

FIFA is thinking about introducing new measures to improve player behaviour towards match officials, chief officer for technical development Marco van Basten revealed on Saturday. The former Netherlands striker and manager says football's world governing
Published 25 Dec, 2016 12:00am
Boult, Southee to be managed in Bangladesh series

Boult, Southee to be managed in Bangladesh series

New Zealand's frontline seamers Trent Boult and Tim Southee will have their workloads managed through the limited-overs portion of their series against Bangladesh to ensure they are fresh for the rest of the international programme, coach Mike Hesson has
Published 25 Dec, 2016 12:00am
World Cup-winner Draxler ends Wolfsburg debacle

World Cup-winner Draxler ends Wolfsburg debacle

Julian Draxler had the world at his feet when Wolfsburg paid Schalke 35 million euros ($37.3m) back in August 2015 for Germany's rising star. "We're convinced Julian will develop further with us," beamed Wolfsburg's then-director of sport Klaus Allofs wit
Published 25 Dec, 2016 12:00am
New Zealand weigh workload worries ahead of ODI series

New Zealand weigh workload worries ahead of ODI series

New Zealand's desire for a confidence-boosting limited overs series against Bangladesh, starting on Monday, has been tempered by the need to ease the workloads of Tim Southee and Trent Boult. From the high of winning a Test series against Pakistan in Nove
Published 25 Dec, 2016 12:00am
Asia Coffee-Markets quiet ahead of holidays, prices drop in Vietnam

Asia Coffee-Markets quiet ahead of holidays, prices drop in Vietnam

Asia's coffee export markets were quiet with few deals sealed ahead of Christmas and New Year holidays, while prices in Vietnam dropped on low quality of beans, traders said on Thursday. Robusta grade 2, 5 pct black and broken was quoted at discounts of $
Published 25 Dec, 2016 12:00am
North China cotton mills halt output to fight smog
Cotton

North China cotton mills halt output to fight smog

Cotton mills in two Chinese provinces have suspended output as part of measures to curb smog that has blanketed the north of the country in the past few days, triggering official pollution alerts, according to an industry website. Mills have stopped buyin
Published 25 Dec, 2016 12:00am
Copper slides as doubts about Chinese demand surface

Copper slides as doubts about Chinese demand surface

Copper prices slipped as investors took profits on long positions ahead of the Christmas break as growing doubts about demand growth in top consumer China reinforced the idea that recent gains were overdone. Benchmark copper on the London Metal Exchange e
Published 25 Dec, 2016 12:00am
Commodity forecasting is a guessing game on China

Commodity forecasting is a guessing game on China

It's that time of year when crystal balls get taken out and polished up, but forecasting commodity markets for 2017 is less certain than usual given the unpredictability of the three main likely drivers. After a largely stellar year in 2016, the outlook f
Published 25 Dec, 2016 12:00am
Argentina soy farmers, seed sellers see progress in royalty talks

Argentina soy farmers, seed sellers see progress in royalty talks

Argentine soy farmers and the companies that sell them genetically modified seeds could be close to a breakthrough in negotiations after a months-long deadlock that prompted Monsanto to stop selling new GMO technology in the country. The negotiator repres
Published 25 Dec, 2016 12:00am
Crude oil imports rise 30 percent in China

Crude oil imports rise 30 percent in China

China's November crude oil imports from Saudi Arabia jumped nearly 30 percent from the year before, customs data showed on Thursday, with the kingdom overtaking Russia to become the largest crude supplier to the world's No 2 economy. Imports from Saudi Ar
Published 25 Dec, 2016 12:00am
Indonesia cuts copper production outlook

Indonesia cuts copper production outlook

Indonesia has cut its outlook for 2016 copper production to 241,553 tonnes from a previous forecast of 310,000 tonnes, the country's coal and minerals director general said on Tuesday. Bambang Gatot also said the Southeast Asian nation was crimping its ni
Published 25 Dec, 2016 12:00am
Gold edged higher

Gold edged higher

Gold edged higher on Friday as the dollar retreated from this week's 14-year high and some buyers were tempted to take advantage of prices near a 10-month low after six weeks of decline. Volumes were thin as traders prepared for a long weekend. All floor
Published 25 Dec, 2016 12:00am
European flax demand shifts to Canada

European flax demand shifts to Canada

Demand for Canadian flax, used in linoleum flooring and health foods, has pushed prices of the oilseed to one-year highs as Europe shuns Russian supplies laced with a herbicide made by Dow Chemical Co. The European Union, the world's second-largest import
Published 25 Dec, 2016 12:00am
For metals markets it's still all about China: Andy Home

For metals markets it's still all about China: Andy Home

From a year of political upheaval the metals markets can draw one all-important lesson. Beijing's economic policy U-turn around this time last year may not have resonated across the world in the same way as Britain's vote to leave the European Union or th
Published 25 Dec, 2016 12:00am
Egypt raises purchase price of sugar cane from local farmers
Currency

Egypt raises purchase price of sugar cane from local farmers

The Egyptian government has increased the price it pays local farmers for sugar cane by 25 percent, the Ministry of Supplies said on Tuesday. Sugar companies belonging to the Ministry of Supplies will buy local sugar cane from farmers for 500 Egyptian pou
Published 25 Dec, 2016 12:00am
US housing, sales increase 5.2 percent

US housing, sales increase 5.2 percent

New US single-family home sales rose more than expected in November and consumer sentiment hovered near a 13-year high this month, strengthening the view that the economy will gain further momentum next year. President-elect Donald Trump's plan to cut tax
Published 25 Dec, 2016 12:00am
Algeria to boost drilling in 2017

Algeria to boost drilling in 2017

Algeria's Sonatrach will drill 290 wells in 2017 in comparison with 265 in 2016, the head of the oil and gas giant's drilling division told Reuters late on Friday. Opec member Algeria has seen a slow rise in energy output this year after years of energy s
Published 25 Dec, 2016 12:00am
China fines GM unit $29 million for 'price-fixing'

China fines GM unit $29 million for 'price-fixing'

Beijing has fined the Chinese unit of General Motors nearly $29 million for "infringing on the rights of consumers and its competitors" via price-fixing, Shanghai authorities said.
Published 25 Dec, 2016 12:00am
Kuwait to float Az-Zour North One in mid 2017-KUNA

Kuwait to float Az-Zour North One in mid 2017-KUNA

Kuwait plans to sell shares in Az-Zour North Independent Water & Power Project to the public in mid-2017, state news agency Kuna reported on Saturday. The Az-Zour North One plant has a capacity of at least 1,500 MW and is structured as a public-private pa
Published 25 Dec, 2016 12:00am
Turkey's Yildiz moves more assets to UK holding company

Turkey's Yildiz moves more assets to UK holding company

Turkish food giant Yildiz Holding said on Friday it has sold a $400 million stake in biscuit maker Ulker to its London-based holding company, to which it has moved its core biscuit, chocolate and confectionery businesses. Outside of Turkey Yildiz is bette
Published 25 Dec, 2016 12:00am
Iran allows free foreign exchange at banks
Currency

Iran allows free foreign exchange at banks

Iran authorised some banks on Saturday to deal in foreign exchange trading at a free-market rate, the central bank said, as authorities try to unify exchange rates. Iran operates two exchange rates, a free market rate, which was at around 40,140 rials to
Published 25 Dec, 2016 12:00am
Greece economy Christmas-offbeat

Greece economy Christmas-offbeat

The Greek finance minister's Christmas cards this year feature Ebenezer Scrooge, the tight-fisted protagonist of Charles Dickens' "A Christmas Carol", in a what is clearly a jibe directed at the country's creditors. Some of Greece's EU partners, especiall
Published 25 Dec, 2016 12:00am
Campaign raises $170,000 for family of 'heroic' Polish truck driver

Campaign raises $170,000 for family of 'heroic' Polish truck driver

A crowdfunding campaign has raised over $170,000 for the family of Polish truck driver Lukasz Urban who was murdered as he apparently tried to seize back control of his vehicle as it was used in an attack on a Berlin Christmas market on Monday.
Published 25 Dec, 2016 12:00am
Euro zone to unblock Greek short-term debt relief deal in January

Euro zone to unblock Greek short-term debt relief deal in January

Euro zone finance ministers, the Eurogroup, will unblock the now suspended short-term debt relief measures for Greece in January after Athens reassured euro zone lenders it would honour its bailout commitments, Eurogroup sources said on Saturday.
Published 25 Dec, 2016 12:00am
Euro zone to unblock Greek short-term debt relief deal in January

Euro zone to unblock Greek short-term debt relief deal in January

Euro zone finance ministers, the Eurogroup, will unblock the now suspended short-term debt relief measures for Greece in January after Athens reassured euro zone lenders it would honour its bailout commitments, Eurogroup sources said on Saturday.
Published 25 Dec, 2016 12:00am
Dollar changed in light, pre-Christmas trade

Dollar changed in light, pre-Christmas trade

The dollar held steady on Friday in a tight trading range, as traders moved to the sidelines ahead of the Christmas holiday weekend, leaving the greenback about half a percent below a 14-year peak set earlier this week. The dollar will likely resume its r
Published 25 Dec, 2016 12:00am
Philippine revises FX assumptions
Currency

Philippine revises FX assumptions

The Philippines revised on Tuesday its foreign exchange assumptions for its 2017 and 2018 macroeconomic targets, taking into consideration a weaker peso against the US dollar. The forex assumption is now 48-50 pesos to the dollar for both 2017 and 2018, f
Published 25 Dec, 2016 12:00am
ECB money has failed to boost economy - Rimsevics

ECB money has failed to boost economy - Rimsevics

The European Central Bank's aggressive money-printing has failed to boost growth in the euro zone substantially, Latvia's Ilmars Rimsevics said on Wednesday, the third ECB rate setter to express disappointment about the programme in the past few days. Rim
Published 25 Dec, 2016 12:00am
A volatile calm - the paradox of 2016 financial markets
Currency

A volatile calm - the paradox of 2016 financial markets

Traditional measures of volatility at historic lows and Wall Street stocks at new record highs went hand-in-hand in 2016 with traders fretting about bouts of wild stock-price swings and currency flash-crashes. The past year has been nothing if not paradox
Published 25 Dec, 2016 12:00am
A volatile calm - the paradox of 2016 financial markets
Currency

A volatile calm - the paradox of 2016 financial markets

Traditional measures of volatility at historic lows and Wall Street stocks at new record highs went hand-in-hand in 2016 with traders fretting about bouts of wild stock-price swings and currency flash-crashes. The past year has been nothing if not paradox
Published 25 Dec, 2016 12:00am
'Weak yen positive for Japan's economy'
Currency

'Weak yen positive for Japan's economy'

A weak yen is positive for Japan's economy as it helps companies boost wages and investment by increasing their profits, an adviser to Prime Minister Shinzo Abe said on Thursday. US President-elect Donald Trump's plans for infrastructure spending and tax
Published 25 Dec, 2016 12:00am
Yuan weakens, Chinese rush to open foreign currency accounts
Currency

Yuan weakens, Chinese rush to open foreign currency accounts

Zhang Yuting lives and works in Shanghai, has only visited the United States once, and rarely needs to use foreign currency. But that hasn't stopped the 29-year-old accountant from putting a slice of her bank savings into the greenback. She is not alone.
Published 25 Dec, 2016 12:00am
Sri Lanka finance minister sees stable rupee in 2017
Currency

Sri Lanka finance minister sees stable rupee in 2017

Sri Lankan Finance Minister Ravi Karunanayake said on Tuesday the rupee currency, which is under downward pressure, will recover and be steady next year with expected foreign inflows. The rupee, which has fallen 3 percent this year after a nearly 10 perce
Published 25 Dec, 2016 12:00am
Gold coin sales soar to five-year peak in 2016

Gold coin sales soar to five-year peak in 2016

American Eagle gold coin sales rose to a five-year high in 2016, the US Mint said on Wednesday, after a volatile year that saw prices soar 30 percent in the first seven months, only to tumble in the wake of US President-elect Donald Trump's election victo
Published 25 Dec, 2016 12:00am
Nigeria to provide dollars to airlines, fuel marketers
Currency

Nigeria to provide dollars to airlines, fuel marketers

Nigeria's central bank on Monday asked banks to submit bids for a "special currency auction" to clear the backlog of matured outstanding dollar obligations for selected sectors of the economy, traders said on Monday. The central bank instructed commercial
Published 25 Dec, 2016 12:00am
China battles dual deficits of cash and trust
Currency

China battles dual deficits of cash and trust

China's money markets are bracing for a rough transition into 2017 as a traditional year-end cash deficit coincides with heavy capital outflows and a disruptive bond default that are creating sporadic cash shortages and ramping up counterparty risk.
Published 25 Dec, 2016 12:00am
British funds see faster growth in 2017

British funds see faster growth in 2017

British investment funds picked up more equities in December on expectations that increased spending by some governments would drive acceleration in economic growth, benefiting everything from banks to construction firms. Reuters' monthly survey of 13 UK-
Published 25 Dec, 2016 12:00am
British funds see faster growth in 2017

British funds see faster growth in 2017

British investment funds picked up more equities in December on expectations that increased spending by some governments would drive acceleration in economic growth, benefiting everything from banks to construction firms. Reuters' monthly survey of 13 UK-
Published 25 Dec, 2016 12:00am
Blackstone Group winds down Senfina hedge fund

Blackstone Group winds down Senfina hedge fund

Blackstone Group is winding down its "big bet" hedge fund Senfina Advisors LLC after it faced mounting double-digit losses on its investments this year, a spokeswoman confirmed on Tuesday. It is a rare setback for the private equity titan, which invests r
Published 25 Dec, 2016 12:00am
Blackstone Group winds down Senfina hedge fund

Blackstone Group winds down Senfina hedge fund

Blackstone Group is winding down its "big bet" hedge fund Senfina Advisors LLC after it faced mounting double-digit losses on its investments this year, a spokeswoman confirmed on Tuesday. It is a rare setback for the private equity titan, which invests r
Published 25 Dec, 2016 12:00am
Brazil states to face conditions in exchange

Brazil states to face conditions in exchange

The Brazilian government will continue to impose conditions on cash-strapped states in exchange for federal support, Finance Minister Henrique Meirelles said on Wednesday, after lawmakers watered down a debt-relief proposal. Meirelles said President Miche
Published 25 Dec, 2016 12:00am
Brazil states to face conditions in exchange

Brazil states to face conditions in exchange

The Brazilian government will continue to impose conditions on cash-strapped states in exchange for federal support, Finance Minister Henrique Meirelles said on Wednesday, after lawmakers watered down a debt-relief proposal. Meirelles said President Miche
Published 25 Dec, 2016 12:00am
Nigeria seeks advisers for Islamic bond

Nigeria seeks advisers for Islamic bond

Nigeria is looking for financial and legal advisers and trustee firms to organise its first Islamic bond in the domestic market, the country's Debt Management Office (DMO) said on Monday. The Opec member, which is Africa's largest economy, is working on a
Published 25 Dec, 2016 12:00am
Nigeria seeks advisers for Islamic bond

Nigeria seeks advisers for Islamic bond

Nigeria is looking for financial and legal advisers and trustee firms to organise its first Islamic bond in the domestic market, the country's Debt Management Office (DMO) said on Monday. The Opec member, which is Africa's largest economy, is working on a
Published 25 Dec, 2016 12:00am
Record $97.6 billion pumped into US equity

Record $97.6 billion pumped into US equity

Investors poured a record $97.6 billion into US equity ETFs since the US election, TrimTabs Investment Research reported for the period from November 8 to December 15. "The stampede into US equity ETFs since the election has been nothing short of breathta
Published 25 Dec, 2016 12:00am
Record $97.6 billion pumped into US equity

Record $97.6 billion pumped into US equity

Investors poured a record $97.6 billion into US equity ETFs since the US election, TrimTabs Investment Research reported for the period from November 8 to December 15. "The stampede into US equity ETFs since the election has been nothing short of breathta
Published 25 Dec, 2016 12:00am
Saudi finance minister says local bond issues likely to resume in Q1

Saudi finance minister says local bond issues likely to resume in Q1

Saudi Arabia expects to resume monthly domestic bond sales in the first quarter of 2017 but will ensure private sector borrowing is not crowded out or banking system liquidity strained, finance minister Mohammed al-Jadaan said on Thursday. Jadaan was spea
Published 25 Dec, 2016 12:00am
Saudi finance minister says local bond issues likely to resume in Q1

Saudi finance minister says local bond issues likely to resume in Q1

Saudi Arabia expects to resume monthly domestic bond sales in the first quarter of 2017 but will ensure private sector borrowing is not crowded out or banking system liquidity strained, finance minister Mohammed al-Jadaan said on Thursday. Jadaan was spea
Published 25 Dec, 2016 12:00am
Japan fund managers trim stocks in December

Japan fund managers trim stocks in December

Japanese fund managers boosted their portfolio of bonds and trimmed exposure to stocks in December as bond yields surged in the wake of Donald Trump's election victory last month, a Reuters survey showed. The survey of five Japan-based fund managers condu
Published 25 Dec, 2016 12:00am
Japan fund managers trim stocks in December

Japan fund managers trim stocks in December

Japanese fund managers boosted their portfolio of bonds and trimmed exposure to stocks in December as bond yields surged in the wake of Donald Trump's election victory last month, a Reuters survey showed. The survey of five Japan-based fund managers condu
Published 25 Dec, 2016 12:00am
Volvo Cars raises $500 million IPO

Volvo Cars raises $500 million IPO

Geely's Volvo Cars have raised 5 billion Swedish crowns ($532 million) from a group of Swedish institutional investors in a step towards a listing of the Chinese-owned company. The investors bought newly-issued preference shares that would have "an immate
Published 25 Dec, 2016 12:00am
Volvo Cars raises $500 million IPO

Volvo Cars raises $500 million IPO

Geely's Volvo Cars have raised 5 billion Swedish crowns ($532 million) from a group of Swedish institutional investors in a step towards a listing of the Chinese-owned company. The investors bought newly-issued preference shares that would have "an immate
Published 25 Dec, 2016 12:00am
US stock funds attract cash

US stock funds attract cash

Investors feasted on stock exchange-traded funds during the latest week while delaying their escape from the stressed bond market, data from the Investment Company Institute showed on Wednesday. Some $26.9 billion flooded into US-based stock ETFs during t
Published 25 Dec, 2016 12:00am
US stock funds attract cash

US stock funds attract cash

Investors feasted on stock exchange-traded funds during the latest week while delaying their escape from the stressed bond market, data from the Investment Company Institute showed on Wednesday. Some $26.9 billion flooded into US-based stock ETFs during t
Published 25 Dec, 2016 12:00am
London's biggest hedge funds fall

London's biggest hedge funds fall

The number of senior people registered as working at the 15 largest discretionary hedge funds in Britain fell by 3.5 percent in 2016, one of the toughest for the industry in recent years. Overall, hedge funds employ about 10,000 people in Britain, includi
Published 25 Dec, 2016 12:00am
London's biggest hedge funds fall

London's biggest hedge funds fall

The number of senior people registered as working at the 15 largest discretionary hedge funds in Britain fell by 3.5 percent in 2016, one of the toughest for the industry in recent years. Overall, hedge funds employ about 10,000 people in Britain, includi
Published 25 Dec, 2016 12:00am
US funds hold portfolios steady

US funds hold portfolios steady

US funds kept their model global portfolio mostly unchanged this month, still favoring stocks, on expectations of fiscal stimulus from President-elect Donald Trump in 2017 and a steeper pace of interest rate increases next year. US stocks have rallied sin
Published 25 Dec, 2016 12:00am
US funds hold portfolios steady

US funds hold portfolios steady

US funds kept their model global portfolio mostly unchanged this month, still favoring stocks, on expectations of fiscal stimulus from President-elect Donald Trump in 2017 and a steeper pace of interest rate increases next year. US stocks have rallied sin
Published 25 Dec, 2016 12:00am
LSE says markets have more work to do

LSE says markets have more work to do

Market participants who want to minimize the impact of sweeping new regulations on securities trading in Europe have more work to do in the last year before the changes take effect, London Stock Exchange said on Wednesday. The Markets in Financial Instrum
Published 25 Dec, 2016 12:00am
South Korean protesters push for president's ouster

South Korean protesters push for president's ouster

Tens of thousands of people, many in Santa Claus outfits, marched through the streets of Seoul Saturday calling for the immediate ouster of impeached President Park Geun-Hye. Parliament voted to impeach Park earlier this month over a corruption scandal in
Published 25 Dec, 2016 12:00am
Pilgrims in Bethlehem, fears in Europe for Christmas Eve

Pilgrims in Bethlehem, fears in Europe for Christmas Eve

Pilgrims gathered in Bethlehem on Saturday for Christmas Eve as Europeans prepared to mark the holidays under the shadow of the Berlin market attack. Dozens of Palestinians and tourists flocked to Bethlehem's Manger Square near the Church of the Nativity,
Published 25 Dec, 2016 12:00am
Sisi says military accounts for 1.5-2 percent of economy
Currency

Sisi says military accounts for 1.5-2 percent of economy

Egyptian President Abdel Fattah al-Sisi said on Saturday that the military's economic activity accounted for no more than two percent of the country's output, dismissing suggestions that the military could control as much as half of the economy.
Published 25 Dec, 2016 12:00am
Trump ally sparks outrage for offensive barbs

Trump ally sparks outrage for offensive barbs

A Donald Trump ally has ignited widespread outrage after wishing for US President Barack Obama's death and making racially charged comments about the first lady. Carl Paladino - a businessman who served as a co-chairman of the president-elect's New York S
Published 25 Dec, 2016 12:00am
Israel on defensive after landmark UN vote

Israel on defensive after landmark UN vote

Israel scrambled Saturday to contain the fallout from the UN Security Council vote to halt settlements in Palestinian territory after lashing out at US President Barack Obama over the "shameful" resolution. The council passed the measure Friday after the
Published 25 Dec, 2016 12:00am
European wheat futures edge lower
Currency

European wheat futures edge lower

European wheat futures edged lower on Thursday, curbed by a steady euro and weak Chicago prices as trader adjusted positions in the run-up to the year-end holidays. March milling wheat, the most active contract on the Paris-based Euronext exchange, settle
Published 25 Dec, 2016 12:00am
US FOB Gulf corn offers firmer

US FOB Gulf corn offers firmer

Export premiums for corn shipped from the US Gulf Coast were firm on Thursday, rising in tandem with higher CIF barge basis values as higher prices for loadings in the Pacific Northwest boosted demand for Gulf-loaded vessels, traders said. Slumping Chicag
Published 25 Dec, 2016 12:00am
US natural gas futures edge lower on warmer weather

US natural gas futures edge lower on warmer weather

US natural gas futures edged lower on Thursday, after touching a near two-week high earlier in the session, as a bigger-than-expected storage draw was offset by forecasts of warmer than usual weather for the next two weeks. After rising 8 percent on Wedne
Published 25 Dec, 2016 12:00am
China sets to import record levels of LNG in December

China sets to import record levels of LNG in December

China's state oil and gas majors are set to import record levels of liquefied natural gas (LNG) this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly two years. Trade flows data on Thom
Published 25 Dec, 2016 12:00am
India's gold demand stays subdued despite fall in prices

India's gold demand stays subdued despite fall in prices

Gold demand in India remained subdued this week despite a sharp fall in prices to over 10-1/2 month lows as a severe cash crunch and holidays kept buyers away from the market, while premiums in China fell from near 3-year highs touched in the prior week.
Published 25 Dec, 2016 12:00am
Chinese steel, iron ore futures fall over four percent

Chinese steel, iron ore futures fall over four percent

Chinese steel and iron ore futures slumped more than 4 percent on Thursday as smog that engulfed northern cities of the country this week slowed trading activity. The smog has thinned in some parts including in the port city of Tianjin, but traders say ma
Published 25 Dec, 2016 12:00am
Freight rates for large capesize dry cargo to diverge on tight tonnage

Freight rates for large capesize dry cargo to diverge on tight tonnage

Freight rates for large capesize dry cargo ships on key Asian routes could diverge with rates from Brazil to China nudging higher on a shortage of tonnage and those from Australia to China holding firm around current levels on ample cargo, ship brokers sa
Published 25 Dec, 2016 12:00am
US wheat futures fall to three-week low

US wheat futures fall to three-week low

US wheat futures declined to a three-week low on Thursday, extending losses to a fourth straight session in a technical selloff that follows lower-than-expected weekly export sales, traders said. Most-active CBOT March wheat finished near its session low
Published 25 Dec, 2016 12:00am
Lean business seen on cotton market
Cotton

Lean business seen on cotton market

Leading buyers were conspicuous by their absence on the cotton market on Saturday in the process of lean business, dealers said. The official spot rate was unchanged at Rs 6250, dealers said. In Sindh, seed cotton prices were at Rs 2600 and Rs 3250, they
Published 25 Dec, 2016 12:00am
Two major Asian rice markets seen quiet
Cotton

Two major Asian rice markets seen quiet

Rice export prices in Vietnam widened this week while prices in Thailand were flat in a quiet market ahead of Christmas and New Year holidays, traders said on Wednesday. The prices of Vietnam's 5-percent broken rice widened to $335-$350 a tonne, FOB basis
Published 25 Dec, 2016 12:00am
Argentina's wheat output to spike higher

Argentina's wheat output to spike higher

Argentine farmers will harvest more wheat than expected this season thanks to increased investment in pesticides and fertilizers prompted by new government export policies, the Agriculture Ministry said in its weekly crop report on Thursday. The 2016-17 c
Published 25 Dec, 2016 12:00am
China's November coal imports from Indonesia surge

China's November coal imports from Indonesia surge

Chinese imports of coal from Indonesia surged 160 percent in November from a year earlier, in line with rising shipments to meet a domestic shortfall, but imports from Australia dipped 10 percent. Imports from Indonesia jumped to 5.15 million tonnes, stil
Published 25 Dec, 2016 12:00am
Soyameal prices narrowly mixed on European feeds market

Soyameal prices narrowly mixed on European feeds market

Soyameal prices on the European meals and feeds market were offered narrowly mixed on Thursday, adjusting for overnight movements in Chicago futures in a session lacking impetus before the year-end holidays. South American soyameal was mostly offered betw
Published 25 Dec, 2016 12:00am
Bangladesh tea prices flat

Bangladesh tea prices flat

Tea prices in Bangladesh were largely flat at the weekly auction on Tuesday on strong demand for good varieties after a steep drop in prices in the previous auction. Bangladeshi tea fetched an average of 178.36 taka ($2.50) per kg at the auction, compared
Published 25 Dec, 2016 12:00am
Asian naphtha crack jumps to three-week high

Asian naphtha crack jumps to three-week high

Asia's naphtha crack jumped 11 percent to reach a three-week high of $73.73 a tonne on Thursday, lifted by strong gasoline demand and lower crude oil prices, traders said. Fundamentally, naphtha supplies were ample and sellers continued to release cargoes
Published 25 Dec, 2016 12:00am
Quaid-i-Azam: the last phase

Quaid-i-Azam: the last phase

In the scale of history, Quaid-i-Azam Mohammad Ali Jinnah's achievement of Pakistan dominates everything else he did in his long and crowded public life (1904-48). Yet, by any standard, his was an eventful life, his personality multi-faced, his achievemen
Published 25 Dec, 2016 12:00am
Jinnah's ideology and political struggle

Jinnah's ideology and political struggle

Quaid-i-Azam Muhammad Ali Jinnah was a statesman of extra-ordinary caliber who changed the course of history of Indian Sub-continent by leading the political struggle for the establishment of Pakistan as an independent state. His leadership and political
Published 25 Dec, 2016 12:00am
Quaid's forgotten values and vision

Quaid's forgotten values and vision

How ironic it is that aside from celebrating Quaid-e-Azam Muhammad Ali Jinnah's birthday on every December 25, we don't portray loyalty to his cherished values-unity, faith, and discipline-that he desired us to practice for our common good.
Published 25 Dec, 2016 12:00am
M A Jinnah - leadership redefined

M A Jinnah - leadership redefined

When frustration and despondency envelop a period of history like blinding fog, there arises at times a genius among his people, whose confidence in himself and the cause he advocates become the solid foundation on which is built the magnificent mansion o
Published 25 Dec, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (December 24, 2016).

Published 25 Dec, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

KARACHI: Firmness prevailed on the money market on Saturday as the rupee managed to hold overnight levels versus the dollar in the process of trading, dealers said. The rupee stayed put against the greenback for buying and selling at Rs 108.20 and Rs 108.
Published 25 Dec, 2016 12:00am
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