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Archive - 2017-03-11
Cyclone kills 50, affects 176,000 in Madagascar
Africa

Cyclone kills 50, affects 176,000 in Madagascar

ANTANANARIVO: Cyclone Enawo killed at least 50 people and affected 176,000 people after it hit Madagascar earlier this week, the national disaster management agency said Saturday, with thousands forced into emergency shelters.
Published 11 Mar, 2017 07:34pm
Sri Lanka's Herath targets 400 Test wickets
Cricket

Sri Lanka's Herath targets 400 Test wickets

GALLE: Sri Lankan spinner Rangana Herath said he is aiming for a career total of 400 Test wickets after leading his side to a 259-run win over Bangladesh in the first Test in Galle Saturday.
Published 11 Mar, 2017 04:23pm
Reform process to continue: Dar
Front Top News

Reform process to continue: Dar

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar said Saturday that the reform process would continue and all the positive suggestions for improvement of the regulatory regime and taxation structure would be considered for implementation.
Published 11 Mar, 2017 04:16pm
Govt puts country on road to progress: Abid Sher Ali
Pakistan

Govt puts country on road to progress: Abid Sher Ali

FAISALABAD: State Minister for Water and Power Chaudhry Abid Sher Ali Saturday said the incumbent government under the dynamic leadership of Prime Minister, Muhammmed Nawaz Sharif had put the country on road to progress and prosperity.
Published 11 Mar, 2017 04:15pm
Garment factory fire put down
General News

Garment factory fire put down

KARACHI: A fire that erupted in a garment factory in Karachi's Landhi area on Friday afternoon, has been put down after 26 hours' efforts, an official of the Central Fire Brigade said on Saturday.
Published 11 Mar, 2017 01:53pm
Pakistan wants peaceful ties with neighbours: Khawaja Asif
Pakistan Top News

Pakistan wants peaceful ties with neighbours: Khawaja Asif

SIALKOT: Federal Minister for Defence, Water and Power Khawaja Muhammad Asif Saturday said Pakistan always wants to establish durable peace and peaceful ties with its neighbours, including Afghanistan and India.
Published 11 Mar, 2017 01:52pm
Germany's Schaeuble says scope for tax cuts is limited
Europe

Germany's Schaeuble says scope for tax cuts is limited

BERLIN: German Finance Minister Wolfgang Schaeuble rejected demands on Saturday from some fellow conservatives for large tax cuts after a September election, saying there was only scope for about 15 billion euros in reductions.
Published 11 Mar, 2017 01:16pm
Twin Damascus bombs targeting pilgrims kill 46
World Top News

Twin Damascus bombs targeting pilgrims kill 46

DAMASCUS: Twin bombs targeting Shia pilgrims on Saturday killed 46 people in Damascus, most of them Iraqis, a monitoring group said, in one of the bloodiest attacks in the Syrian capital.
Published 11 Mar, 2017 12:56pm
Efficient, modern police force, government's priority: PM
Front Top News

Efficient, modern police force, government's priority: PM

Prime Minister said it was his government's target and priority to provide an effective, efficient and public-friendly police force equipped with sate-of-the-art technology to face modern day challenges
Published 11 Mar, 2017 12:11pm
Twin bombings kill 30 in Damascus Old City
Front Top News

Twin bombings kill 30 in Damascus Old City

BEIRUT: Twin bombs killed 30 people and wounded more than 40 in the Old City of Damascus on Saturday in a rare attack in the Syrian capital, a monitoring group said.
Published 11 Mar, 2017 11:09am
Research finds yogurt to be the ultimate depression killer
Technology

Research finds yogurt to be the ultimate depression killer

A recent new study advises that consuming yogurt may help ease the symptoms of depression. According to researchers, depression is one of the leading causes of mental disarray affecting millions of people across different age groups.%D%A%D%A
Published 11 Mar, 2017 09:43am
Turkey foreign minister insists on Netherlands visit
Europe

Turkey foreign minister insists on Netherlands visit

ISTANBUL: Turkish Foreign Minister Mevlut Cavusoglu said he would go to the Netherlands on Saturday to drum up support for a high-stakes referendum, despite the Dutch government's refusal to facilitate his trip.
Published 11 Mar, 2017 09:41am
It was very painful for me to leave Pakistan
Life & Style

It was very painful for me to leave Pakistan

HASSAN ABBAS %D%ALAHORE: Actress Shabnam Ghosh, the poster girl of Lollywood in the 1970s, burst into tears while revealing to the audience of Ravians' Literary Festival about her story of leaving Pakistan and film industry here.
Published 11 Mar, 2017 09:10am
Isolation by Daniel Beltra
Featured Photos

Isolation by Daniel Beltra

Photo Credit: Daniel Beltra%Daniel Beltra is a photographer based in Seattle.
Published 11 Mar, 2017 09:07am
US economy adds 235,000 new jobs in February
World

US economy adds 235,000 new jobs in February

WASHINGTON: The US economy had another strong month of job creation in February, the Labor Department reported Friday -- a result sure to boost already high expectations that the Fed will raise interest rates next week.
Published 11 Mar, 2017 08:58am
PSL fixing row: Irfan, Shahzaib issued notices
Cricket

PSL fixing row: Irfan, Shahzaib issued notices

The Pakistan Cricket Board (PCB) anti corruption unite has summoned fast bowler Muhammad Irfan and opening batsman Shazaib Hasan in relation to the spot-fixing during the Pakistan Super Leagues second edition concluded recently.
Published 11 Mar, 2017 08:44am
Sandstorm by Steve McCurry
Featured Photos

Sandstorm by Steve McCurry

Photo Credit: Steve McCurry%Dfter graduating from Pennsylvania University, Steve McCurry worked at a newspaper for two years and then left the United States to freelance on the Indian subcontinent.
Published 11 Mar, 2017 08:30am
Another legal challenge to revised Trump travel ban
Front Top News

Another legal challenge to revised Trump travel ban

WASHINGTON: President Donald Trump's revamped travel ban faced another legal challenge Friday when the American Civil Liberties Union filed a complaint on behalf of several refugee assistance groups over the controversial executive order.
Published 11 Mar, 2017 08:29am
All eyes on Blue House as Sout Korea awaits Park move
Front Top News

All eyes on Blue House as Sout Korea awaits Park move

SEOUL: All eyes were on Seoul's presidential Blue House Saturday as South Koreans awaited ex-president Park Geun-Hye's reaction to her impeachment and preparations to move into her private residence.
Published 11 Mar, 2017 08:17am
Modi set to tighten grip as India awaits results
Asia

Modi set to tighten grip as India awaits results

NEW DELHI: India's Prime Minister Narendra Modi looked set to tighten his grip on power Saturday with early trends from a string of state elections showing his nationalist Bharatiya Janata Party leading in the key battleground of Uttar Pradesh.
Published 11 Mar, 2017 08:14am
China says industrial policy not aimed at foreign firms
World

China says industrial policy not aimed at foreign firms

BEIJING: China on Saturday tried to downplay concerns it is reducing market access for foreign enterprises, days after a report by an EU group accused Beijing of trying to skew its business playing field towards domestic firms.
Published 11 Mar, 2017 08:06am
Pliskova squeaks past Puig at Indian Wells
Football

Pliskova squeaks past Puig at Indian Wells

INDIAN WELLS: World number three Karolina Pliskova battled back to beat Olympic champion Monica Puig 1-6, 6-4 6-4 on Friday, but says she'll have to do better to go further at Indian Wells.
Published 11 Mar, 2017 08:05am
Japan recalls tsunami, nuclear tragedy six years on
Asia

Japan recalls tsunami, nuclear tragedy six years on

TOKYO: Japan paused Saturday to mark six years since a deadly earthquake, tsunami and nuclear disaster devastated its northeastern coast, as more than 100,000 people remain unable or unwilling to return home.
Published 11 Mar, 2017 07:58am
Maoist rebels kill 11 police in central India
Front Top News

Maoist rebels kill 11 police in central India

RAIPUR: Suspected Maoist rebels killed 11 paramilitary commandos Saturday in a remote part of central India after ambushing their convoy, police said, the latest attack in the country's simmering internal conflict.
Published 11 Mar, 2017 07:54am
US corn futures lower on technical selling

US corn futures lower on technical selling

US corn futures sagged for the third day in a row on Wednesday, with traders saying the market remained technically overbought after hitting an eight-month high last week. The three-session losing streak was the largest in a month. But the losses were mut
Published 11 Mar, 2017 12:00am
Correction
Cotton

Correction

Please refer to the Cotton Analysis published yesterday. There was an error in the last line which should be properly read as follows: "Trade wars, isolationism and aggressive trade retaliation measures could shatter any existing trade agreements and unde
Published 11 Mar, 2017 12:00am
Correction
Cotton

Correction

Please refer to the Cotton Analysis published yesterday. There was an error in the last line which should be properly read as follows: "Trade wars, isolationism and aggressive trade retaliation measures could shatter any existing trade agreements and unde
Published 11 Mar, 2017 12:00am
Cotton prices firm on strong buying
Cotton

Cotton prices firm on strong buying

Prices maintained higher trend on the cotton market on Friday in the process of trading, dealers said. The official spot rate was unchanged at Rs 6800, they said. In Punjab prices of phutti were unchanged at Rs 3750-3800, as per 40 kg, they said. In the r
Published 11 Mar, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 94,085 tonnes of cargo comprising 73,260 tonnes of import cargo and 20,825 tonnes of export cargo including 5,360 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 73,26
Published 11 Mar, 2017 12:00am
Major Chinese corn region seeks financial aid from Beijing

Major Chinese corn region seeks financial aid from Beijing

China's second-largest corn-producing region has asked Beijing for more financial aid as farmers struggle with low prices and bulging stocks a year after the government ditched its decade-long buying policy and efforts to boost demand stumble. Profits hav
Published 11 Mar, 2017 12:00am
EU wheat futures lower in subdued trade

EU wheat futures lower in subdued trade

Euronext wheat futures edged lower on Wednesday in subdued trade as traders adjusted positions a day ahead of a closely watched world crop report from the US Department of Agriculture. May milling wheat, the most active contract on the Paris-based Euronex
Published 11 Mar, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Thursday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,009. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 6.11 billion and the number of lots traded was 16,720. Major business was contributed by c
Published 11 Mar, 2017 12:00am
Chinese steel fall, but outlook firm as stockpiles drop

Chinese steel fall, but outlook firm as stockpiles drop

Chinese steel futures slipped for a second day on Wednesday as investors locked in recent gains, though the outlook for the commodity remained firm as declining traders' stockpiles pointed to a pick-up in demand. Inventory of rebar among Chinese traders h
Published 11 Mar, 2017 12:00am
Asian naphtha crack slips on ample supplies

Asian naphtha crack slips on ample supplies

Asia's naphtha crack slipped on Wednesday on ample supplies of the fuel, trade sources said. The fall in naphtha margin has been dragging down Asia's overall refining margins. South Korean petrochemical companies have also bought naphtha cargoes at discou
Published 11 Mar, 2017 12:00am
Karachi Chronicle: Which is better: a job or a business?

Karachi Chronicle: Which is better: a job or a business?

The month of March began with an inspiring Economic Co-operation Organisation's 13th summit meeting of 11 member states in Islamabad. The theme of the Summit was 'Connectivity for Regional Prosperity'. Translated, it means jobs, trade and business opportu
Published 11 Mar, 2017 12:00am
New minerals back idea of man-made epoch for Earth

New minerals back idea of man-made epoch for Earth

Scientists have identified more than 200 minerals created as side-effects of human industries in a sign that mankind's imprint on the Earth is so deep that it marks a new geological epoch, a study said last Wednesday.
Published 11 Mar, 2017 12:00am
Ancient human tree cultivation shaped Amazon landscape

Ancient human tree cultivation shaped Amazon landscape

Ancient indigenous peoples had a far more profound impact on the composition of the vast Amazon rainforest than previously known, according to a study showing how tree species domesticated by humans long ago still dominate big swathes of the wilderness.
Published 11 Mar, 2017 12:00am
Arctic sea ice may vanish even if world achieves climate goal

Arctic sea ice may vanish even if world achieves climate goal

Arctic sea ice may vanish in summers this century even if governments achieve a core target for limiting global warming set by almost 200 nations in 2015, scientists said on Monday. Arctic sea ice has been shrinking steadily in recent decades, damaging th
Published 11 Mar, 2017 12:00am
ART FACTS: Notions of alternative realities

ART FACTS: Notions of alternative realities

A group exhibition of three artists titled "Triptych of Friends" at Clifton Art Gallery, Karachi introduced viewers to three different concepts of life. Even though the artists works reflected life in various forms but the philosophy of life was obvious t
Published 11 Mar, 2017 12:00am
Contemporary art brings life to Cairo's City of the Dead

Contemporary art brings life to Cairo's City of the Dead

On a winding road leading into Cairo's City of the Dead, a cartoon mouse with round ears and green eyes adorns the shop fronts and walls of the mausoleums where thousands of Egyptians live among the gravestones. The path leads to a 15th-century complex bu
Published 11 Mar, 2017 12:00am
Japan's 'fake food' more appetising than the original

Japan's 'fake food' more appetising than the original

They may look good enough to eat, but Japan's mouth-watering food replicas are only for show as restaurateurs compete for the attention of hungry customers. They're common sights in this food-obsessed nation, with everything from sudsy beers and perfectly
Published 11 Mar, 2017 12:00am
Egyptian researchers turn shrimp shells into biodegradable plastic

Egyptian researchers turn shrimp shells into biodegradable plastic

Researchers at Egypt's Nile University are developing a way to turn dried shrimp shells that would otherwise be thrown away into thin films of biodegradable plastic they hope will be used to make eco-friendly grocery bags and packaging. Six months into th
Published 11 Mar, 2017 12:00am
Telling stories of wartime childhood in Bosnian museum

Telling stories of wartime childhood in Bosnian museum

Ballet slippers, tinned food and drawings by a sister killed from shelling are found among the objects in a new Sarajevo museum used to tell stories of life during Bosnia's war through the eyes of children. An unfinished letter, kept safe by a young Bosni
Published 11 Mar, 2017 12:00am
Medico-financial coverage needed to help save a child

Medico-financial coverage needed to help save a child

When it comes to protecting the unborn and new-born, nothing can be more important and powerful than Routine Immunisation (RI), a global effort under Expanded Programme on Immunisation (EPI) to save children from deadly Vaccine Preventable Diseases (VPD)
Published 11 Mar, 2017 12:00am
'Diana: Her Fashion Story'

'Diana: Her Fashion Story'

Gowns worn by Princess Diana for everything from meeting diplomats to dancing with movie stars feature in an exhibition celebrating the fashion of one of Britain's favourite royals, which opened in London last month.
Published 11 Mar, 2017 12:00am
Jackman slices and dices one last time as Wolverine

Jackman slices and dices one last time as Wolverine

After eight movies over 17 years, Hugh Jackman returns this weekend for his final hurrah as Wolverine in "Logan," an edgier, darker take on everyone's favourite hairy, metal-clawed mutant anti-hero.
Published 11 Mar, 2017 12:00am
Stars recall real-life pain seen in 'La La Land' auditions

Stars recall real-life pain seen in 'La La Land' auditions

In "La La Land," the nostalgic musical tipped for glory at Sunday's Oscars, Emma Stone channels some of the pain she and Ryan Gosling experienced in their early auditions. As her character Mia is reading for a part, someone bursts into the room and begins
Published 11 Mar, 2017 12:00am
BRIDGE NOTES:A spectacular discard indeed!

BRIDGE NOTES:A spectacular discard indeed!

Defensive problems keep cropping up every now and then and many a time good defense just slips away without anyone noticing it till the post mortem reveals that with a proper defense put up the otherwise makeable contract was going down. So that makes def
Published 11 Mar, 2017 12:00am
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 11 Mar, 2017 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 11 Mar, 2017 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (March 10, 2017).
Published 11 Mar, 2017 12:00am
South Korean court throws president out of office
Currency

South Korean court throws president out of office

South Korea's Constitutional Court removed President Park Geun-hye from office on Friday over a graft scandal involving the country's conglomerates at a time of rising tensions with North Korea and China. The ruling sparked protests from hundreds of her s
Published 11 Mar, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
South Korean court throws president out of office
Currency

South Korean court throws president out of office

South Korea's Constitutional Court removed President Park Geun-hye from office on Friday over a graft scandal involving the country's conglomerates at a time of rising tensions with North Korea and China. The ruling sparked protests from hundreds of her s
Published 11 Mar, 2017 12:00am
Power projects: Chinese company achieves financial close

Power projects: Chinese company achieves financial close

China Three Gorges South Asia Investment Ltd on Friday achieved financial close of 720MW Karot Hydropower project and 100MW ( 2x50 MW) second phase wind power project. The representatives of China Three Gorges South Asia Investment Ltd, Private Power Infr
Published 11 Mar, 2017 12:00am
Power projects: Chinese company achieves financial close

Power projects: Chinese company achieves financial close

China Three Gorges South Asia Investment Ltd on Friday achieved financial close of 720MW Karot Hydropower project and 100MW ( 2x50 MW) second phase wind power project. The representatives of China Three Gorges South Asia Investment Ltd, Private Power Infr
Published 11 Mar, 2017 12:00am
Power projects: Chinese company achieves financial close

Power projects: Chinese company achieves financial close

China Three Gorges South Asia Investment Ltd on Friday achieved financial close of 720MW Karot Hydropower project and 100MW ( 2x50 MW) second phase wind power project. The representatives of China Three Gorges South Asia Investment Ltd, Private Power Infr
Published 11 Mar, 2017 12:00am
Notice sent to KfW: minister

Notice sent to KfW: minister

The Ministry of Water and Power has sent a notice to the German state-owned Bank KfW for inaccurately concluding that Pakistan's power sector performance has not improved particularly that of three public sector Generation Companies (Gencos) which has dam
Published 11 Mar, 2017 12:00am
Notice sent to KfW: minister

Notice sent to KfW: minister

The Ministry of Water and Power has sent a notice to the German state-owned Bank KfW for inaccurately concluding that Pakistan's power sector performance has not improved particularly that of three public sector Generation Companies (Gencos) which has dam
Published 11 Mar, 2017 12:00am
Notice sent to KfW: minister

Notice sent to KfW: minister

The Ministry of Water and Power has sent a notice to the German state-owned Bank KfW for inaccurately concluding that Pakistan''s power sector performance has not improved particularly that of three public sector Generation Companies (Gencos) which has da
Published 11 Mar, 2017 12:00am
July-February workers' remittances down 2.47 percent

July-February workers' remittances down 2.47 percent

Worker's remittances maintained a downward trend declining slightly by 2.47 percent during the first eight months (July-Feb) of this fiscal year (FY17). According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted an amount of $12.363 bi
Published 11 Mar, 2017 12:00am
July-February workers' remittances down 2.47 percent

July-February workers' remittances down 2.47 percent

Worker's remittances maintained a downward trend declining slightly by 2.47 percent during the first eight months (July-Feb) of this fiscal year (FY17). According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted an amount of $12.363 bi
Published 11 Mar, 2017 12:00am
July-February workers'' remittances down 2.47 percent

July-February workers'' remittances down 2.47 percent

Worker''s remittances maintained a downward trend declining slightly by 2.47 percent during the first eight months (July-Feb) of this fiscal year (FY17). According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted an amount of $12.363 b
Published 11 Mar, 2017 12:00am
Bonus shares: PSX proposes rationalization of tax

Bonus shares: PSX proposes rationalization of tax

The Pakistan Stock Exchange has proposed rationalization of tax on bonus shares and tax credit on enlistment at the stock exchange in its proposals for the federal budget for 2017-18. These proposals were presented and discussed during a high-level meetin
Published 11 Mar, 2017 12:00am
Bonus shares: PSX proposes rationalization of tax

Bonus shares: PSX proposes rationalization of tax

The Pakistan Stock Exchange has proposed rationalization of tax on bonus shares and tax credit on enlistment at the stock exchange in its proposals for the federal budget for 2017-18. These proposals were presented and discussed during a high-level meetin
Published 11 Mar, 2017 12:00am
Bonus shares: PSX proposes rationalization of tax

Bonus shares: PSX proposes rationalization of tax

The Pakistan Stock Exchange has proposed rationalization of tax on bonus shares and tax credit on enlistment at the stock exchange in its proposals for the federal budget for 2017-18. These proposals were presented and discussed during a high-level meetin
Published 11 Mar, 2017 12:00am
EU leaders split on post-Brexit Europe

EU leaders split on post-Brexit Europe

EU leaders clashed Friday over plans to build unity in the wake of Brexit, a day after a row with Poland over Donald Tusk's re-election as the bloc's president underscored deep divisions. European heavyweights Germany and France backed a "multi-speed" Eur
Published 11 Mar, 2017 12:00am
EU leaders split on post-Brexit Europe

EU leaders split on post-Brexit Europe

EU leaders clashed Friday over plans to build unity in the wake of Brexit, a day after a row with Poland over Donald Tusk's re-election as the bloc's president underscored deep divisions. European heavyweights Germany and France backed a "multi-speed" Eur
Published 11 Mar, 2017 12:00am
EU leaders split on post-Brexit Europe

EU leaders split on post-Brexit Europe

EU leaders clashed Friday over plans to build unity in the wake of Brexit, a day after a row with Poland over Donald Tusk''s re-election as the bloc''s president underscored deep divisions. European heavyweights Germany and France backed a "multi-speed" E
Published 11 Mar, 2017 12:00am
Dar comes down hard on critics

Dar comes down hard on critics

The Finance Minister Ishaq Dar came down hard on his critics and stated that the country's debt to GDP ratio has not gone beyond 60.2 per cent. Speaking at the launch of a prize bond here on Friday the finance minister said that saving to investment ratio
Published 11 Mar, 2017 12:00am
Dar comes down hard on critics

Dar comes down hard on critics

The Finance Minister Ishaq Dar came down hard on his critics and stated that the country's debt to GDP ratio has not gone beyond 60.2 per cent. Speaking at the launch of a prize bond here on Friday the finance minister said that saving to investment ratio
Published 11 Mar, 2017 12:00am
Dar comes down hard on critics

Dar comes down hard on critics

The Finance Minister Ishaq Dar came down hard on his critics and stated that the country''s debt to GDP ratio has not gone beyond 60.2 per cent. Speaking at the launch of a prize bond here on Friday the finance minister said that saving to investment rati
Published 11 Mar, 2017 12:00am
Dar comes down hard on critics

Dar comes down hard on critics

The Finance Minister Ishaq Dar came down hard on his critics and stated that the country''''s debt to GDP ratio has not gone beyond 60.2 per cent. Speaking at the launch of a prize bond here on Friday the finance minister said that saving to investment ra
Published 11 Mar, 2017 12:00am
3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

The government borrowed Rs 41 billion from State Bank of Pakistan on annual basis on average during the last three-and-a-half years. Parliamentary Secretary for Finance Rana Muhammad Afzal Khan informed this to National Assembly on Friday during the quest
Published 11 Mar, 2017 12:00am
3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

The government borrowed Rs 41 billion from State Bank of Pakistan on annual basis on average during the last three-and-a-half years. Parliamentary Secretary for Finance Rana Muhammad Afzal Khan informed this to National Assembly on Friday during the quest
Published 11 Mar, 2017 12:00am
3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

3 1/2 years: government borrowed Rs 41 billion from SBP on annual basis

The government borrowed Rs 41 billion from State Bank of Pakistan on annual basis on average during the last three-and-a-half years. Parliamentary Secretary for Finance Rana Muhammad Afzal Khan informed this to National Assembly on Friday during the quest
Published 11 Mar, 2017 12:00am
Bearish spell deepens

Bearish spell deepens

A bearish trend continued on Pakistan Stock Exchange Friday. The benchmark KSE-100 index lost another 200.69 points to close at 49,191.75 points. Selling was seen from local investors, however foreign investors remained net buyers of shares worth $3.2 mil
Published 11 Mar, 2017 12:00am
Bearish spell deepens

Bearish spell deepens

A bearish trend continued on Pakistan Stock Exchange Friday. The benchmark KSE-100 index lost another 200.69 points to close at 49,191.75 points. Selling was seen from local investors, however foreign investors remained net buyers of shares worth $3.2 mil
Published 11 Mar, 2017 12:00am
Bearish spell deepens

Bearish spell deepens

A bearish trend continued on Pakistan Stock Exchange Friday. The benchmark KSE-100 index lost another 200.69 points to close at 49,191.75 points. Selling was seen from local investors, however foreign investors remained net buyers of shares worth $3.2 mil
Published 11 Mar, 2017 12:00am
BRIndex30 sheds 192.82 points

BRIndex30 sheds 192.82 points

On Friday, BRIndex30 opened at 27,968.85 points. It touched an intraday high of 28,074.21 and an intraday low of 27,684.57 points and closed at 27,776.03 points which was -192.82 points or -0.69 percent lower than previous close. Total volume was 112,218,
Published 11 Mar, 2017 12:00am
BRIndex30 sheds 192.82 points

BRIndex30 sheds 192.82 points

On Friday, BRIndex30 opened at 27,968.85 points. It touched an intraday high of 28,074.21 and an intraday low of 27,684.57 points and closed at 27,776.03 points which was -192.82 points or -0.69 percent lower than previous close. Total volume was 112,218,
Published 11 Mar, 2017 12:00am
Military courts: bill introduced

Military courts: bill introduced

Pakistan Muslim League-Nawaz (PML-N) government on Friday introduced 'The Constitution (Twenty-eight Amendment) Bill, 2017' and 'The Pakistan Army (Amendment) Bill, 2016' in the National Assembly for revival of military courts for two more years. However,
Published 11 Mar, 2017 12:00am
Military courts: bill introduced

Military courts: bill introduced

Pakistan Muslim League-Nawaz (PML-N) government on Friday introduced 'The Constitution (Twenty-eight Amendment) Bill, 2017' and 'The Pakistan Army (Amendment) Bill, 2016' in the National Assembly for revival of military courts for two more years. However,
Published 11 Mar, 2017 12:00am
SBP unveils instructions on banknote packaging
Currency

SBP unveils instructions on banknote packaging

In order to standardise the cash packaging practices, the State Bank of Pakistan (SBP) has issued "banknotes packing instructions" for preparation of banknote packets and bundles. The State Bank and SBP Banking Services Corporation (SBPBSC) have been maki
Published 11 Mar, 2017 12:00am
SBP unveils instructions on banknote packaging
Currency

SBP unveils instructions on banknote packaging

In order to standardise the cash packaging practices, the State Bank of Pakistan (SBP) has issued "banknotes packing instructions" for preparation of banknote packets and bundles. The State Bank and SBP Banking Services Corporation (SBPBSC) have been maki
Published 11 Mar, 2017 12:00am
SBP unveils instructions on banknote packaging
Currency

SBP unveils instructions on banknote packaging

In order to standardise the cash packaging practices, the State Bank of Pakistan (SBP) has issued "banknotes packing instructions" for preparation of banknote packets and bundles. The State Bank and SBP Banking Services Corporation (SBPBSC) have been maki
Published 11 Mar, 2017 12:00am
Man killed in Saudi police shootout

Man killed in Saudi police shootout

A man wanted in connection with alleged "terrorism" activities was shot dead and a police officer wounded in a firefight in Saudi Arabia's Eastern Province, the interior ministry said Friday. The incident in the Qatif area of the kingdom's predominantly S
Published 11 Mar, 2017 12:00am
Sima quits HBL, likely to head UBL

Sima quits HBL, likely to head UBL

Sima Kamil has resigned from HBL and is likely to head UBL, Pakistan's 3rd largest bank, it is reliably learnt. Sima Kamil heads the Board of Governors of Karachi Grammar School. She holds a Masters degree from City of London and ran HBL's Branch Banking
Published 11 Mar, 2017 12:00am
Sima quits HBL, likely to head UBL

Sima quits HBL, likely to head UBL

Sima Kamil has resigned from HBL and is likely to head UBL, Pakistan's 3rd largest bank, it is reliably learnt. Sima Kamil heads the Board of Governors of Karachi Grammar School. She holds a Masters degree from City of London and ran HBL's Branch Banking
Published 11 Mar, 2017 12:00am
Sima quits HBL, likely to head UBL

Sima quits HBL, likely to head UBL

Sima Kamil has resigned from HBL and is likely to head UBL, Pakistan''s 3rd largest bank, it is reliably learnt. Sima Kamil heads the Board of Governors of Karachi Grammar School. She holds a Masters degree from City of London and ran HBL''s Branch Bankin
Published 11 Mar, 2017 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 11 Mar, 2017 12:00am
UBL reposes confidence in Wajahat

UBL reposes confidence in Wajahat

The Board of Directors (BoD) of UBL reposes fullest confidence in the President & CEO, Wajahat Husain, and the Management Team of the Bank. The BoD strongly rejects all rumours being spread on this matter. The BoD also records its appreciation for achievi
Published 11 Mar, 2017 12:00am
UBL reposes confidence in Wajahat

UBL reposes confidence in Wajahat

The Board of Directors (BoD) of UBL reposes fullest confidence in the President & CEO, Wajahat Husain, and the Management Team of the Bank. The BoD strongly rejects all rumours being spread on this matter. The BoD also records its appreciation for achievi
Published 11 Mar, 2017 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 11 Mar, 2017 12:00am
UBL reposes confidence in Wajahat

UBL reposes confidence in Wajahat

The Board of Directors (BoD) of UBL reposes fullest confidence in the President & CEO, Wajahat Husain, and the Management Team of the Bank. The BoD strongly rejects all rumours being spread on this matter. The BoD also records its appreciation for achievi
Published 11 Mar, 2017 12:00am
PSX board should conform to highest governance standards: Hijazi

PSX board should conform to highest governance standards: Hijazi

Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi Friday visited Pakistan Stock Exchange Limited and met members of the Board of Directors of PSX, including the representatives of the Chinese consortium. The newly-appointed four
Published 11 Mar, 2017 12:00am
PSX board should conform to highest governance standards: Hijazi

PSX board should conform to highest governance standards: Hijazi

Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi Friday visited Pakistan Stock Exchange Limited and met members of the Board of Directors of PSX, including the representatives of the Chinese consortium. The newly-appointed four
Published 11 Mar, 2017 12:00am
PSX board should conform to highest governance standards: Hijazi

PSX board should conform to highest governance standards: Hijazi

Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi Friday visited Pakistan Stock Exchange Limited and met members of the Board of Directors of PSX, including the representatives of the Chinese consortium. The newly-appointed four
Published 11 Mar, 2017 12:00am
Electronic voting machines: ECP signs contract for procurement

Electronic voting machines: ECP signs contract for procurement

The Election Commission of Pakistan (ECP) has taken a major step towards acquiring the facility of biometric thumb impression and electronic voting to be used in general election in 2018. The ECP has signed a contract with M/s Smartmatic International Hol
Published 11 Mar, 2017 12:00am
Electronic voting machines: ECP signs contract for procurement

Electronic voting machines: ECP signs contract for procurement

The Election Commission of Pakistan (ECP) has taken a major step towards acquiring the facility of biometric thumb impression and electronic voting to be used in general election in 2018. The ECP has signed a contract with M/s Smartmatic International Hol
Published 11 Mar, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Seven dead including Russians in Istanbul helicopter crash

Seven dead including Russians in Istanbul helicopter crash

Seven people were killed including four Russians when a privately-owned helicopter crashed in Istanbul after hitting a television tower on Friday, local media reported, quoting the city's mayor. "Seven people were killed in the accident. I would like to s
Published 11 Mar, 2017 12:00am
Seven dead including Russians in Istanbul helicopter crash

Seven dead including Russians in Istanbul helicopter crash

Seven people were killed including four Russians when a privately-owned helicopter crashed in Istanbul after hitting a television tower on Friday, local media reported, quoting the city's mayor. "Seven people were killed in the accident. I would like to s
Published 11 Mar, 2017 12:00am
PML-N MNA's comment: PTI, PPPP walkout from National Assembly

PML-N MNA's comment: PTI, PPPP walkout from National Assembly

Lawmakers of Pakistan Tehreek-e-Insaf (PTI) and Pakistan People's Party Parliamentarians (PPPP) on Friday staged a walkout from National Assembly to protest the comments made by Mian Javed Latif, an MNA of the ruling Pakistan Muslim League-N (PML-N). The
Published 11 Mar, 2017 12:00am
PML-N MNA's comment: PTI, PPPP walkout from National Assembly

PML-N MNA's comment: PTI, PPPP walkout from National Assembly

Lawmakers of Pakistan Tehreek-e-Insaf (PTI) and Pakistan People's Party Parliamentarians (PPPP) on Friday staged a walkout from National Assembly to protest the comments made by Mian Javed Latif, an MNA of the ruling Pakistan Muslim League-N (PML-N). The
Published 11 Mar, 2017 12:00am
Acquittal of Swami Aseemanand: Pakistan summons senior Indian diplomat

Acquittal of Swami Aseemanand: Pakistan summons senior Indian diplomat

Pakistan on Friday summoned senior Indian diplomat and expressed concern over acquittal of Swami Aseemanand in 2007 Ajmer Sharif bomb blast who is also accused for masterminding Samjhauta Express terrorist attack. "Indian Deputy High Commissioner was call
Published 11 Mar, 2017 12:00am
THE RUPEE: rates slide
Currency

THE RUPEE: rates slide

The rupee failed to keep overnight gains against the dollar on the money market on Friday in the process of trading, dealers said. The rupee moved slightly in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said
Published 11 Mar, 2017 12:00am
Acquittal of Swami Aseemanand: Pakistan summons senior Indian diplomat

Acquittal of Swami Aseemanand: Pakistan summons senior Indian diplomat

Pakistan on Friday summoned senior Indian diplomat and expressed concern over acquittal of Swami Aseemanand in 2007 Ajmer Sharif bomb blast who is also accused for masterminding Samjhauta Express terrorist attack. "Indian Deputy High Commissioner was call
Published 11 Mar, 2017 12:00am
THE RUPEE: rates slide
Currency

THE RUPEE: rates slide

The rupee failed to keep overnight gains against the dollar on the money market on Friday in the process of trading, dealers said. The rupee moved slightly in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said
Published 11 Mar, 2017 12:00am
LPG companies decline to accept new consumer price

LPG companies decline to accept new consumer price

The liquefied petroleum gas companies have declined to accept the new LPG consumer price set by the Oil and Gas Regulatory Authority (Ogra) and termed the price tantamount to halting the LPG supplies. The Ogra on February 24 fixed the prices for an 11.8-k
Published 11 Mar, 2017 12:00am
LPG companies decline to accept new consumer price

LPG companies decline to accept new consumer price

The liquefied petroleum gas companies have declined to accept the new LPG consumer price set by the Oil and Gas Regulatory Authority (Ogra) and termed the price tantamount to halting the LPG supplies. The Ogra on February 24 fixed the prices for an 11.8-k
Published 11 Mar, 2017 12:00am
LPG companies decline to accept new consumer price

LPG companies decline to accept new consumer price

The liquefied petroleum gas companies have declined to accept the new LPG consumer price set by the Oil and Gas Regulatory Authority (Ogra) and termed the price tantamount to halting the LPG supplies. The Ogra on February 24 fixed the prices for an 11.8-k
Published 11 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Maldivian opposition protests Saudi king's visit

Maldivian opposition protests Saudi king's visit

Maldivian opposition parties protested Friday a planned visit by King Salman following reports that Saudi business interests were buying an entire atoll in the politically-troubled Indian Ocean republic. A coalition of opposition parties and dissidents sa
Published 11 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Maldivian opposition protests Saudi king's visit

Maldivian opposition protests Saudi king's visit

Maldivian opposition parties protested Friday a planned visit by King Salman following reports that Saudi business interests were buying an entire atoll in the politically-troubled Indian Ocean republic. A coalition of opposition parties and dissidents sa
Published 11 Mar, 2017 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Japan bats away US complaint on autos

Japan bats away US complaint on autos

Japan rejected US demands for more access to Japan's car market on Friday, casting doubt over whether it can avoid friction over autos and agriculture imports at high level bilateral talks on economic relations next month. The joint economic dialogue, to
Published 11 Mar, 2017 12:00am
Japan bats away US complaint on autos

Japan bats away US complaint on autos

Japan rejected US demands for more access to Japan's car market on Friday, casting doubt over whether it can avoid friction over autos and agriculture imports at high level bilateral talks on economic relations next month. The joint economic dialogue, to
Published 11 Mar, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (March 10, 2017)

Published 11 Mar, 2017 12:00am
Japan bats away US complaint on autos

Japan bats away US complaint on autos

Japan rejected US demands for more access to Japan''s car market on Friday, casting doubt over whether it can avoid friction over autos and agriculture imports at high level bilateral talks on economic relations next month. The joint economic dialogue, to
Published 11 Mar, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 11 Mar, 2017 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 11 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Exchange of information on bank accounts

Exchange of information on bank accounts

Federal Finance Minister Ishaq Dar, in one of his rare appearances in the august National Assembly, stated that "Switzerland has sent an official invitation letter to me on 02 March 2017 to sign a new treaty on our terms and conditions on exchange of info
Published 11 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (March 10, 2017).

Published 11 Mar, 2017 12:00am
Growing hope for gender parity

Growing hope for gender parity

International Women's Day has been celebrated in Pakistan every year, with leaders promising to meet the theme set by the United Nations: 'Women in the Changing World of Work: Planet 50-50 by 2030'. But making a promise is one thing, meeting it quite anot
Published 11 Mar, 2017 12:00am
The Weather

The Weather

The weather report on Friday (March 10, 2017) and the forecast for Saturday (March 11, 2017).

Published 11 Mar, 2017 12:00am
Power sector turnaround?

Power sector turnaround?

Ever since the incumbent government announced a spectacular turnaround of the power sector, its claim to it has been a subject of controversy and much disputed by economic and energy analysts. The Ministry of Water and power recently announced that "with
Published 11 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 11 Mar, 2017 12:00am
The concept of prescribed records under the sales tax law

The concept of prescribed records under the sales tax law

Domestic taxes like sales tax are record-based taxes, and the record maintenance pertaining to their production, sales and storage has been prescribed under the law. The Sales Tax Act, 1990 has in this regard prescribed the procedure through regulations c
Published 11 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 11 Mar, 2017 12:00am
Smoking paradise Japan tries to kick the habit

Smoking paradise Japan tries to kick the habit

Japan is moving to pass its strictest-ever smoking laws, but the country's powerful tobacco lobby wants to stub out measures that were adopted years ago by other developed nations. The government is keen to change Japan's image as a puffing paradise - smo
Published 11 Mar, 2017 12:00am
'Power sector' - I

'Power sector' - I

Business Recorder's editorial on the above subject (March 8) highlights the difference in the GOP claims and the view of energy professionals, latest announcement by KfW, a German government-owned development entity, calling the claims "politically influe
Published 11 Mar, 2017 12:00am
US MIDDAY: gold springs back

US MIDDAY: gold springs back

Gold recovered on Friday from an early drop to five-week lows after a US non-farm payrolls report for February failed to meet elevated expectations, prompting a drop in the dollar and Treasury yields. The Labour Department data, which showed US non-farm p
Published 11 Mar, 2017 12:00am
US MIDDAY: soyabeans extend slide

US MIDDAY: soyabeans extend slide

Chicago Board of Trade soyabean futures fell to a two-month low on Friday as the ongoing harvest of a projected record-large Brazilian soya crop threatened US export prospects, traders said. Corn and wheat followed the weak trend, despite a setback in the
Published 11 Mar, 2017 12:00am
Oil slides again, set for biggest three-day loss in a year

Oil slides again, set for biggest three-day loss in a year

Oil skidded again on Friday, pushing prices to three-month lows as investors continued to flee bullish positions on worries that Opec-led production cuts have not yet reduced a global glut of crude. US crude has slumped nearly 9 percent since Tuesday's cl
Published 11 Mar, 2017 12:00am
South Africa's low maize prices could put farmers under pressure
Currency

South Africa's low maize prices could put farmers under pressure

A big maize crop following recent rains has pulled South African maize prices to two-year lows, eroding farmers' ability to pay for inputs for the new season, Grain SA said on Friday. The government's Crop Estimates Committee (CEC) said last month that Af
Published 11 Mar, 2017 12:00am
Gold recovers in European trade

Gold recovers in European trade

Gold recovered on Friday from an early drop to five-week lows after a US non-farm payrolls report for February failed to meet elevated expectations, prompting a drop in the dollar and Treasury yields. The Labour Department data, which showed US non-farm p
Published 11 Mar, 2017 12:00am
Gold falls in Asia

Gold falls in Asia

Gold fell below the key level of $1,200 an ounce on Friday and was on track for its worst week in four months, pressured by a stronger dollar ahead of the closely-watched US non-farm payrolls report due later in the day. Spot gold was down 0.4 percent at
Published 11 Mar, 2017 12:00am
Gold down in New York

Gold down in New York

Gold fell for the sixth straight session and reached a five-week low on Thursday, with analysts expecting further losses as investors become increasingly certain that US interest rates will rise this month. Spot gold was down 0.5 percent at $1,202.11 an o
Published 11 Mar, 2017 12:00am
Raw sugar recovers, cocoa rebounds

Raw sugar recovers, cocoa rebounds

Raw sugar futures recovered on Friday, lifted by short covering after touching a three-month low, while New York cocoa surged on a weaker dollar and chart-driven buying. May raw sugar futures were up 0.26 cent, or 1.44 percent, at 18.26 cents a lb by 1510
Published 11 Mar, 2017 12:00am
Rubber rises

Rubber rises

Benchmark Tokyo rubber futures snapped a 3-day losing streak on Friday after hitting a 2-1/2 month low earlier in the session, with investors looking for bargains and helped by a weaker yen, but it still booked a weekly loss amid falling Shanghai futures.
Published 11 Mar, 2017 12:00am
Copper rises as inventory build-up falters

Copper rises as inventory build-up falters

Copper rose on Friday after six straight sessions of decline as a surge in inventories halted and workers began an indefinite strike at the Cerro Verde mine in Peru, raising supply fears. Industrial metals rose broadly as a week-long rout of global commod
Published 11 Mar, 2017 12:00am
Shanghai copper eases

Shanghai copper eases

Shanghai Futures Exchange copper eased 0.6 percent to 46,550 yuan ($6,733) a tonne on Friday. "The slide in commodities, triggered by rising stockpiles earlier this week, continued as investors cut bullish bets built up over the course of the year," ANZ s
Published 11 Mar, 2017 12:00am
Senators slam circulation of blasphemous material on social media

Senators slam circulation of blasphemous material on social media

The lawmakers in Senate on Friday passed a unanimous resolution to strongly condemn the circulation of blasphemous material on social media which, they declared, is in no way acceptable. The resolution was moved by Senator Kamil Ali Agha of Pakistan Musli
Published 11 Mar, 2017 12:00am
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