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Archive - 2017-03-22
Bullion Prices on Wednesday
Markets

Bullion Prices on Wednesday

KARACHI: Following were the Bullion Prices in Karachi, Hyderabad, and Lahore on Wednesday. KARACHI: (per 10
Updated 22 Mar, 2017 03:49pm
RECORDER REPORT-PSX mid day update
Pakistan Top News

RECORDER REPORT-PSX mid day update

KARACHI: On Wednesday, until mid day, KSE-100 Index was at 49101.04 with a positive change of 80.83 and volume of 65,911
Updated 22 Mar, 2017 09:32am
PSMC: Expected downtime
Automobile

PSMC: Expected downtime

Pakistan Suzuki Motor Company (PSX: PSMC) shows a decline in the topline by 10 percent mainly due to lower sales com
Updated 22 Mar, 2017 09:06am
PPL 1HFY17
Oil and Gas

PPL 1HFY17

The sluggish performance of the upstream oil and gas industry has been a global phenomenon due to the extended impact of
Updated 22 Mar, 2017 09:03am
To allow sugar exports
Industry

To allow sugar exports

After much wait, the Commerce Ministry last week recommended an export of 0.2 million tonnes of sugar, as against the pr
Updated 22 Mar, 2017 09:03am
Tokyo shares lower
Currency

Tokyo shares lower

Tokyo stocks slipped Tuesday after a long holiday weekend as banks and some major exporters including Sony and Panasonic struggled under the strong yen. Traders moved into the Japanese currency - widely seen as a safe investment - after G20 finance minist
Published 22 Mar, 2017 12:00am
Sri Lankan shares flat

Sri Lankan shares flat

Sri Lankan shares were little changed on Tuesday in lacklustre trade, hovering near a one-year closing low hit last week, as investors stayed on the sidelines ahead of the central bank's policy review. The Colombo stock index ended flat at 6,041.59, near
Published 22 Mar, 2017 12:00am
Transatlantic bond 'getting stronger': Mattis

Transatlantic bond 'getting stronger': Mattis

The transatlantic bond is "getting stronger," Pentagon chief Jim Mattis told Nato's Jens Stoltenberg on Tuesday, the same day the US secretary of state said he will skip a key alliance meeting. "We have a very strong transatlantic bond," Mattis told Nato'
Published 22 Mar, 2017 12:00am
Ivanka Trump has White House office

Ivanka Trump has White House office

President Donald Trump's daughter Ivanka now has an office at the White House, although she will not be a government employee, an administration official told AFP Monday. Since Trump's inauguration on January 20, his eldest daughter, aged 35, has been see
Published 22 Mar, 2017 12:00am
French minister quits over jobs for daughters

French minister quits over jobs for daughters

French Interior Minister Bruno Le Roux resigned on Tuesday after revelations that he hired his two teenage daughters as parliamentary aides. Le Roux denied wrongdoing but said he did not want the investigation into the contracts - for which his daughters
Published 22 Mar, 2017 12:00am
EU founding fathers signed 'blank' Treaty of Rome

EU founding fathers signed 'blank' Treaty of Rome

The European Union's six founding members formally approved the Treaty of Rome by signing a string of blank pages at the 1957 ceremony that gave birth to the bloc. The remarkable footnote to proceedings on what was a landmark day in European history was r
Published 22 Mar, 2017 12:00am
Striking workers delay French rocket launch

Striking workers delay French rocket launch

The launch of a French rocket called Ariane 5 which would have placed two communications satellites for Brazil and South Korea into orbit was delayed Monday by striking workers. The transfer of the rocket to its launch pad was postponed after striking wor
Published 22 Mar, 2017 12:00am
Xi calls for peace in meeting with Netanyahu

Xi calls for peace in meeting with Netanyahu

Chinese President Xi Jinping called Tuesday for peace between Israel and an independent Palestine "as soon as possible" during a meeting with Israeli Prime Minister Benjamin Netanyahu, state media reported. "A peaceful, stable and developing Middle East i
Published 22 Mar, 2017 12:00am
Migrants, women left behind in human development: UN

Migrants, women left behind in human development: UN

Impressive advances have been made in human development over the past 25 years on many fronts, but ethnic minorities, refugees, migrants and women are being left behind, a United Nations report said on Tuesday. "People now live longer, more children are i
Published 22 Mar, 2017 12:00am
'Unfair' to block Scottish independence vote: Sturgeon

'Unfair' to block Scottish independence vote: Sturgeon

Scotland's nationalist leader warned on Tuesday that it would be "unfair" for the British government to block another independence referendum, as she asked the Scottish parliament to support her plans for a vote. First Minister Nicola Sturgeon said Britis
Published 22 Mar, 2017 12:00am
Swedish parliament holds first war game in 20 years

Swedish parliament holds first war game in 20 years

The Swedish parliament has held its first war game in 20 years in response to worries over global politics, its speaker said Tuesday, as tensions with Russia rise. A delegation of 50 lawmakers - which would have the power to replace parliament in the even
Published 22 Mar, 2017 12:00am
Profits seen under pressure for China's banks as costs surge

Profits seen under pressure for China's banks as costs surge

Chinese lenders in 2016 likely posted their lowest interest margins since the global financial crisis, due to higher costs and fewer lucrative lending options, with the going set to get tougher as the key gauge of profitability stays under pressure.
Published 22 Mar, 2017 12:00am
Kenya borrows total of $1.55 billion in three syndicated loans

Kenya borrows total of $1.55 billion in three syndicated loans

Kenya borrowed $800 million in a syndicated loan from four international commercial lenders, part of a package totalling $1.55 billion. The country also got a $500 million syndicated loan with Cairo-based African Import Export Bank (Afreximbank) and the T
Published 22 Mar, 2017 12:00am
China FX head says overseas M&A like 'a rose with thorns'

China FX head says overseas M&A like 'a rose with thorns'

Chinese companies investing overseas need to be careful and invest rationally, the head of China's foreign exchange regulator was quoted as saying by the official Shanghai Securities News on Monday. "Overseas mergers and acquisitions can sometimes resembl
Published 22 Mar, 2017 12:00am
Soaring house prices lock Australia's homeless out

Soaring house prices lock Australia's homeless out

Homelessness is on the rise in Australia, experts warn, with a growing number of people failing to benefit from the nation's stellar economy as it readies to mark a record 26 years without a recession. The unprecedented economic expansion - fuelled by a m
Published 22 Mar, 2017 12:00am
BNP Paribas aims to expand European investment banking
Currency

BNP Paribas aims to expand European investment banking

BNP Paribas, France's biggest bank, plans to expand its investment banking activity in Europe as competitors retrench, it said on Monday, part of a strategy to offset weak revenue in domestic retail markets. The bank aims to increase the number of clients
Published 22 Mar, 2017 12:00am
Strong Canada retail sales bolster expectations for Q1 growth

Strong Canada retail sales bolster expectations for Q1 growth

Canadian retail sales rebounded in January with the largest gain in nearly seven years as spending rose across most sectors, boosting expectations that economic growth picked up at the start of the year. Sales rose 2.2 percent, Statistics Canada said on T
Published 22 Mar, 2017 12:00am
Venezuela taps small banks to handle dollar deals
Currency

Venezuela taps small banks to handle dollar deals

Venezuela's government is using little-known banks, including a small Puerto Rican lender, as intermediaries for some international trade operations after Citigroup last year stopped providing such services, according to the owner of one of the banks and
Published 22 Mar, 2017 12:00am
Japan PM, in Brussels, pushes EU trade deal

Japan PM, in Brussels, pushes EU trade deal

Japanese Prime Minister Shinzo Abe pledged on Tuesday to seal a EU-Japan trade deal as early as possible in order to make an important stand against protectionism. Abe met with EU Council President Donald Tusk as well as European Commission head Jean-Clau
Published 22 Mar, 2017 12:00am
Apple CEO visits China bike-sharing start-up ofo

Apple CEO visits China bike-sharing start-up ofo

Apple Inc chief executive Tim Cook paid a visit to Chinese bike-sharing company ofo on Tuesday, as the country's ride-sharing start-ups fight aggressively for investor dollars and market share. Cook visited the office of the Beijing-based start-up, known
Published 22 Mar, 2017 12:00am
EU deplores 'surreal' stand by US on trade

EU deplores 'surreal' stand by US on trade

EU finance ministers on Tuesday deplored the 'surrealist' stand on world trade taken by the United States at a tense G20 meeting over the weekend. In a first taste of what Trump's presidency means for the world economy, the G20 failed to get Washington to
Published 22 Mar, 2017 12:00am
British inflation surges to 2.3P percent

British inflation surges to 2.3P percent

British annual inflation jumped in February to the highest level in almost three and a half years, driven by increasing fuel costs, data showed Tuesday. The 12-month inflation rate hit 2.3 percent last month compared with 1.8 percent in January, the Offic
Published 22 Mar, 2017 12:00am
Deutsche Bank launches tech startup lab in New York City

Deutsche Bank launches tech startup lab in New York City

Deutsche Bank AG has opened a new center in New York to work with financial technology start-ups that can help it improve its technology. Based in Lower Manhattan's Fulton Center, the lab's team will help the bank deploy technology in artificial intellige
Published 22 Mar, 2017 12:00am
Goldman to move hundreds of staff from London pre-Brexit: Europe CEO

Goldman to move hundreds of staff from London pre-Brexit: Europe CEO

Goldman Sachs will begin moving hundreds of people out of London before any Brexit deal is struck as part of its contingency plans for Britain leaving the European Union, the Wall Street firm's Europe CEO said. "We are going to start to execute on those c
Published 22 Mar, 2017 12:00am
UK banks 'handled' $740 million in laundered Russian money

UK banks 'handled' $740 million in laundered Russian money

Several British banks processed nearly $740 million in a multi-billion dollar Russian money-laundering scam, The Guardian newspaper said on Monday. According to documents obtained by the Organised Crime and Corruption Reporting Project, at least $20 billi
Published 22 Mar, 2017 12:00am
Of bread and wine: the world's most expensive cities

Of bread and wine: the world's most expensive cities

Singapore remains the world's most expensive city to live in, a study showed on Tuesday, with two Japanese cities - Tokyo and Osaka - returning to the top 10 thanks to the strengthening of the yen. Almaty in Kazakhstan was the least expensive, followed by
Published 22 Mar, 2017 12:00am
Venezuela halts publication of another major indicator
Currency

Venezuela halts publication of another major indicator

Venezuela has stopped publishing money supply data, depriving the public of the best available tool to ascertain soaring inflation in one of the world's worst-performing economies. The country quit issuing inflation data more than a year ago, but annual c
Published 22 Mar, 2017 12:00am
US current account shrinks in Q4

US current account shrinks in Q4

The US current account deficit unexpectedly fell in the fourth quarter, hitting its lowest level in more than a year, as an increase in the primary income surplus offset a soybean-driven drop in exports. The Commerce Department said on Tuesday the current
Published 22 Mar, 2017 12:00am
BOC Aviation orders 13 Boeing jets worth $1.4 billion

BOC Aviation orders 13 Boeing jets worth $1.4 billion

Singapore-based aircraft leasing firm BOC Aviation said Tuesday it has ordered 13 new Boeing 737 MAX 8 planes worth a total of $1.4 billion at list prices. "Airlines are attracted by the 737 MAX 8's lower operating costs and fuel efficiency," BOC Aviation
Published 22 Mar, 2017 12:00am
Hot, dry weather hits Ivory Coast cocoa mid-crop

Hot, dry weather hits Ivory Coast cocoa mid-crop

Dry, hot weather last week in several regions of Ivory Coast's cocoa regions could threaten the approaching mid-crop although good conditions were reported elsewhere in the world's top producer, farmers said on Monday. The dry season runs from mid-Novembe
Published 22 Mar, 2017 12:00am
Modest trade activity on cotton market
Cotton

Modest trade activity on cotton market

Modest trade activity was witnessed on the cotton market on Tuesday as buyers and sellers both remained on the sidelines owing to short supply of quality lint, dealers said. The official spot rate was unchanged at Rs 6800, they said. In Punjab, prices of
Published 22 Mar, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 246,866 tonnes of cargo comprising 186,019 tonnes of import cargo and 60,847 tonnes of export cargo including 7,939 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 18
Published 22 Mar, 2017 12:00am
Russian wheat export prices down on stronger rouble
Currency

Russian wheat export prices down on stronger rouble

Russian wheat export prices fell last week due to a 1 percent rise of the rouble currency against the US dollar, which makes Russian commodities less competitive on global markets, an analyst said on Monday. Black Sea prices for Russian wheat with 12.5 pe
Published 22 Mar, 2017 12:00am
EU wheat prices fall following US markets

EU wheat prices fall following US markets

European wheat prices fell to their lowest in almost a week on Monday, weakened by falling US markets and a strong euro which makes EU wheat less competitive on world markets. Front month May milling wheat on the Paris-based Euronext exchange unofficially
Published 22 Mar, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Monday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,003. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 2.89 billion and the number of lots traded was 7,536. Major business was contributed by curr
Published 22 Mar, 2017 12:00am
Russia to double gasoline exports on capacity boost

Russia to double gasoline exports on capacity boost

Russia could double gasoline exports in coming years due to a leap in its refining capacity and a falloff in domestic demand, which could worsen a fuel overhang in Europe, according to experts and Reuters calculations. Russian gasoline exports jumped by m
Published 22 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 22 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 22 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 22 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 22 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 Tuesday (March 21, 2017).

Published 22 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 Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (March 21, 2017).
Published 22 Mar, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
Hong Kong pull out of Pakistan tie over security fears

Hong Kong pull out of Pakistan tie over security fears

Hong Kong have withdrawn from their Davis Cup tie against Pakistan in Islamabad next month citing security concerns, the International Tennis Federation (ITF) said Tuesday. The southern Chinese city had previously challenged a decision by the Davis Cup Co
Published 22 Mar, 2017 12:00am
Torkham gate formally reopened

Torkham gate formally reopened

The Torkham gate at Pak-Afghan border formally reopened Tuesday for all kinds of movement following the announcement made by Prime Minister Nawaz Sharif. The border security official said the border was reopened at 7am and pedestrians as well as all the t
Published 22 Mar, 2017 12:00am
Disputed hydro project: India agrees to review design

Disputed hydro project: India agrees to review design

The Indian delegation led by Indus Water Commissioner PK Saxena has agreed to halt progress on 120 MW Miyar hydroelectric project's design. According to an official statement issued after a two-day parley between the Permanent Indus Water Commissioners in
Published 22 Mar, 2017 12:00am
Disputed hydro project: India agrees to review design

Disputed hydro project: India agrees to review design

The Indian delegation led by Indus Water Commissioner PK Saxena has agreed to halt progress on 120 MW Miyar hydroelectric project's design. According to an official statement issued after a two-day parley between the Permanent Indus Water Commissioners in
Published 22 Mar, 2017 12:00am
Disputed hydro project: India agrees to review design

Disputed hydro project: India agrees to review design

The Indian delegation led by Indus Water Commissioner PK Saxena has agreed to halt progress on 120 MW Miyar hydroelectric project''s design. According to an official statement issued after a two-day parley between the Permanent Indus Water Commissioners i
Published 22 Mar, 2017 12:00am
Irsa rejects accusations of Sindh CM

Irsa rejects accusations of Sindh CM

The Indus River System Authority (Irsa) has rejected the accusations of Sindh Chief Minister Syed Murad Ali Shah regarding creation of water problems for the province and filling of Tarbela Dam at an inappropriate time. According to Irsa spokesperson, tou
Published 22 Mar, 2017 12:00am
Irsa rejects accusations of Sindh CM

Irsa rejects accusations of Sindh CM

The Indus River System Authority (Irsa) has rejected the accusations of Sindh Chief Minister Syed Murad Ali Shah regarding creation of water problems for the province and filling of Tarbela Dam at an inappropriate time. According to Irsa spokesperson, tou
Published 22 Mar, 2017 12:00am
Irsa rejects accusations of Sindh CM

Irsa rejects accusations of Sindh CM

The Indus River System Authority (Irsa) has rejected the accusations of Sindh Chief Minister Syed Murad Ali Shah regarding creation of water problems for the province and filling of Tarbela Dam at an inappropriate time. According to Irsa spokesperson, tou
Published 22 Mar, 2017 12:00am
Bulls take control

Bulls take control

A bullish trend continued on Pakistan Stock Exchange (PSX) Tuesday. On the back of fresh buying mainly by local investors and institutions, the benchmark KSE-100 index again crossed 49,000 psychological level. The index closed at 49,020.21 points with a n
Published 22 Mar, 2017 12:00am
Bulls take control

Bulls take control

A bullish trend continued on Pakistan Stock Exchange (PSX) Tuesday. On the back of fresh buying mainly by local investors and institutions, the benchmark KSE-100 index again crossed 49,000 psychological level. The index closed at 49,020.21 points with a n
Published 22 Mar, 2017 12:00am
Bulls take control

Bulls take control

A bullish trend continued on Pakistan Stock Exchange (PSX) Tuesday. On the back of fresh buying mainly by local investors and institutions, the benchmark KSE-100 index again crossed 49,000 psychological level. The index closed at 49,020.21 points with a n
Published 22 Mar, 2017 12:00am
BRIndex30 up 195.33 points

BRIndex30 up 195.33 points

On Tuesday, BRIndex30 opened at 26,949.63 points. It touched an intraday high of 27,171.06 points and an intraday low of 26,816.33 points and closed at 27,144.96 points which was 195.33 points or 0.72 percent higher than previous close. Total volume was 1
Published 22 Mar, 2017 12:00am
BRIndex30 up 195.33 points

BRIndex30 up 195.33 points

On Tuesday, BRIndex30 opened at 26,949.63 points. It touched an intraday high of 27,171.06 points and an intraday low of 26,816.33 points and closed at 27,144.96 points which was 195.33 points or 0.72 percent higher than previous close. Total volume was 1
Published 22 Mar, 2017 12:00am
Military courts given extension

Military courts given extension

National Assembly on Tuesday passed 'The Constitution (Twenty-Eighth amendment) Bill, 2017' and 'Pakistan Army (amendment) Bill, 2017' with amendments with overwhelming majority of 255 votes in favour and four against it to constitute military courts for
Published 22 Mar, 2017 12:00am
Military courts given extension

Military courts given extension

National Assembly on Tuesday passed 'The Constitution (Twenty-Eighth amendment) Bill, 2017' and 'Pakistan Army (amendment) Bill, 2017' with amendments with overwhelming majority of 255 votes in favour and four against it to constitute military courts for
Published 22 Mar, 2017 12:00am
PPP government authorised Haqqani to issue visas: Aziz

PPP government authorised Haqqani to issue visas: Aziz

Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz on Tuesday disclosed that the Asif-Zardari-led Pakistan People's Party Parliamentarians (PPPP) government had formally authorised the then ambassador of Pakistan to the US, Husain Haqqani, to di
Published 22 Mar, 2017 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Mar, 2017 12:00am
PPP government authorised Haqqani to issue visas: Aziz

PPP government authorised Haqqani to issue visas: Aziz

Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz on Tuesday disclosed that the Asif-Zardari-led Pakistan People's Party Parliamentarians (PPPP) government had formally authorised the then ambassador of Pakistan to the US, Husain Haqqani, to di
Published 22 Mar, 2017 12:00am
Weapons recovered from Safari Park in Karachi

Weapons recovered from Safari Park in Karachi

The paramilitary forces recovered a huge cache of weapons from a store room at the city's Safari Park in a raid conducted early morning on Tuesday, informed a Sindh Rangers spokesperson. The raid was conducted on intelligence-based information, the spokes
Published 22 Mar, 2017 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Mar, 2017 12:00am
Leaving out 'Sikhism' in Census form: SHC summons reply from government

Leaving out 'Sikhism' in Census form: SHC summons reply from government

Sindh High Court (SHC) on Tuesday summoned reply from the federal government by March 27 over not including a column on Sikhism in the ongoing population count. A petition filed in SHC by Sardar Heera Singh and others, stated that hundreds of thousands Si
Published 22 Mar, 2017 12:00am
PAEC, CPIH sign MoU for collaboration in power sector

PAEC, CPIH sign MoU for collaboration in power sector

Pakistan Atomic Energy Commission (PAEC) and China Power International Holding Limited (CPIH) have signed a Memorandum of Understanding (MoU) for general co-operation between two entities. Under this MoU, PAEC and CPIH will develop extensive collaboration
Published 22 Mar, 2017 12:00am
Non-usage of loans: $7 million to be paid to ADB

Non-usage of loans: $7 million to be paid to ADB

Pakistan would pay a sum of $7 million to Asian Development Bank (ADB) in terms of fine if it does not use loan worth $4.5 billion. According to details, ADB granted $6.4 billion loan to Pakistan for different projects while federal government has only us
Published 22 Mar, 2017 12:00am
Non-usage of loans: $7 million to be paid to ADB

Non-usage of loans: $7 million to be paid to ADB

Pakistan would pay a sum of $7 million to Asian Development Bank (ADB) in terms of fine if it does not use loan worth $4.5 billion. According to details, ADB granted $6.4 billion loan to Pakistan for different projects while federal government has only us
Published 22 Mar, 2017 12:00am
Babri Masjid case: Indian SC suggests out-of-court settlement

Babri Masjid case: Indian SC suggests out-of-court settlement

Indian Supreme Court on Tuesday suggested for an out-of-court settlement of Babri Masjid and Ram Mandir dispute. The court conducted a hearing of the petition filed by Bharatiya Janata Party's Subramanian Swamy. "An amicable settlement of the Ayodhya Ramj
Published 22 Mar, 2017 12:00am
CPEC projects of immense benefit for country, region: Prime Minister

CPEC projects of immense benefit for country, region: Prime Minister

Prime Minister Nawaz Sharif Tuesday said various projects being implemented under the China-Pakistan Economic Corridor (CPEC) would immensely benefit Pakistan in particular and the region in general after their completion. Addressing the parliamentary par
Published 22 Mar, 2017 12:00am
CPEC projects of immense benefit for country, region: Prime Minister

CPEC projects of immense benefit for country, region: Prime Minister

Prime Minister Nawaz Sharif Tuesday said various projects being implemented under the China-Pakistan Economic Corridor (CPEC) would immensely benefit Pakistan in particular and the region in general after their completion. Addressing the parliamentary par
Published 22 Mar, 2017 12:00am
CPEC projects of immense benefit for country, region: Prime Minister

CPEC projects of immense benefit for country, region: Prime Minister

Prime Minister Nawaz Sharif Tuesday said various projects being implemented under the China-Pakistan Economic Corridor (CPEC) would immensely benefit Pakistan in particular and the region in general after their completion. Addressing the parliamentary par
Published 22 Mar, 2017 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan (SBP) and its offices will remain closed on March 23, 2017 (Thursday) on the occasion of Pakistan Day, as declared by the Government of Pakistan.
Published 22 Mar, 2017 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan (SBP) and its offices will remain closed on March 23, 2017 (Thursday) on the occasion of Pakistan Day, as declared by the Government of Pakistan.
Published 22 Mar, 2017 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

A slight fall was witnessed on the money market on Tuesday as the rupee fell modestly against the dollar in the process of trading, dealers said. The rupee was unmoved in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectivel
Published 22 Mar, 2017 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan (SBP) and its offices will remain closed on March 23, 2017 (Thursday) on the occasion of Pakistan Day, as declared by the Government of Pakistan.
Published 22 Mar, 2017 12:00am
THE RUPEE: minor changes
Currency

THE RUPEE: minor changes

A slight fall was witnessed on the money market on Tuesday as the rupee fell modestly against the dollar in the process of trading, dealers said. The rupee was unmoved in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectivel
Published 22 Mar, 2017 12:00am
Forensic audit of banks, telecom companies to be carried out

Forensic audit of banks, telecom companies to be carried out

The Federal Board of Revenue (FBR) and consultant firms would jointly conduct forensic audit of eight banks and six telecom companies, including five cellular operators in Pakistan. Sources told Business Recorder here on Tuesday that the decision w
Published 22 Mar, 2017 12:00am
Forensic audit of banks, telecom companies to be carried out

Forensic audit of banks, telecom companies to be carried out

The Federal Board of Revenue (FBR) and consultant firms would jointly conduct forensic audit of eight banks and six telecom companies, including five cellular operators in Pakistan. Sources told Business Recorder here on Tuesday that the decision w
Published 22 Mar, 2017 12:00am
Forensic audit of banks, telecom companies to be carried out

Forensic audit of banks, telecom companies to be carried out

The Federal Board of Revenue (FBR) and consultant firms would jointly conduct forensic audit of eight banks and six telecom companies, including five cellular operators in Pakistan. Sources told Business Recorder here on Tuesday that the decision w
Published 22 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
US bans large electronics from 10 airports

US bans large electronics from 10 airports

The Trump administration confirmed Tuesday it is imposing new restrictions on electronic devices carried by travellers coming to the United States from 10 airports mainly in the Middle East and North Africa in response to unspecified terror threats.
Published 22 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
US bans large electronics from 10 airports

US bans large electronics from 10 airports

The Trump administration confirmed Tuesday it is imposing new restrictions on electronic devices carried by travellers coming to the United States from 10 airports mainly in the Middle East and North Africa in response to unspecified terror threats.
Published 22 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 Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
US bans large electronics from 10 airports

US bans large electronics from 10 airports

The Trump administration confirmed Tuesday it is imposing new restrictions on electronic devices carried by travellers coming to the United States from 10 airports mainly in the Middle East and North Africa in response to unspecified terror threats.
Published 22 Mar, 2017 12:00am
Google unveils tools to prevent ads alongside undesirable content

Google unveils tools to prevent ads alongside undesirable content

Google, which has seen a slew of companies withdraw ads after they appeared alongside extemist content, said Tuesday it was introducing new tools to give firms greater control. "We know advertisers don't want their ads next to content that doesn't align w
Published 22 Mar, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (March 21, 2017)

Published 22 Mar, 2017 12:00am
Google unveils tools to prevent ads alongside undesirable content

Google unveils tools to prevent ads alongside undesirable content

Google, which has seen a slew of companies withdraw ads after they appeared alongside extemist content, said Tuesday it was introducing new tools to give firms greater control. "We know advertisers don't want their ads next to content that doesn't align w
Published 22 Mar, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
Google unveils tools to prevent ads alongside undesirable content

Google unveils tools to prevent ads alongside undesirable content

Google, which has seen a slew of companies withdraw ads after they appeared alongside extemist content, said Tuesday it was introducing new tools to give firms greater control. "We know advertisers don''t want their ads next to content that doesn''t align
Published 22 Mar, 2017 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Mar, 2017 12:00am
China asks WTO to weigh in on EU anti-dumping measures

China asks WTO to weigh in on EU anti-dumping measures

China on Tuesday asked the World Trade Organisation to create an expert panel to examine the so-called "surrogate country" approach used by the European Union to calculate anti-dumping measures applied to Chinese exports. When China joined the WTO in 2001
Published 22 Mar, 2017 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Mar, 2017 12:00am
China asks WTO to weigh in on EU anti-dumping measures

China asks WTO to weigh in on EU anti-dumping measures

China on Tuesday asked the World Trade Organisation to create an expert panel to examine the so-called "surrogate country" approach used by the European Union to calculate anti-dumping measures applied to Chinese exports. When China joined the WTO in 2001
Published 22 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
China asks WTO to weigh in on EU anti-dumping measures

China asks WTO to weigh in on EU anti-dumping measures

China on Tuesday asked the World Trade Organisation to create an expert panel to examine the so-called "surrogate country" approach used by the European Union to calculate anti-dumping measures applied to Chinese exports. When China joined the WTO in 2001
Published 22 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 21, 2017).

Published 22 Mar, 2017 12:00am
China asks WTO to weigh in on EU anti-dumping measures

China asks WTO to weigh in on EU anti-dumping measures

China on Tuesday asked the World Trade Organisation to create an expert panel to examine the so-called "surrogate country" approach used by the European Union to calculate anti-dumping measures applied to Chinese exports. When China joined the WTO in 2001
Published 22 Mar, 2017 12:00am
The Weather

The Weather

The weather report on Tuesday (March 21, 2017) and the forecast for Wednesday (March 22, 2017).

Published 22 Mar, 2017 12:00am
Pakistan and UK ink pact on immigration

Pakistan and UK ink pact on immigration

Pakistan and the United Kingdom Tuesday agreed to further improve co-operation to resolve counterterrorism and immigration issues. Interior Minister Chaudhry Nisar Ali Khan, while addressing a joint press conference along with British Home Secretary Amber
Published 22 Mar, 2017 12:00am
Pakistan and UK ink pact on immigration

Pakistan and UK ink pact on immigration

Pakistan and the United Kingdom Tuesday agreed to further improve co-operation to resolve counterterrorism and immigration issues. Interior Minister Chaudhry Nisar Ali Khan, while addressing a joint press conference along with British Home Secretary Amber
Published 22 Mar, 2017 12:00am
Pakistan and UK ink pact on immigration

Pakistan and UK ink pact on immigration

Pakistan and the United Kingdom Tuesday agreed to further improve co-operation to resolve counterterrorism and immigration issues. Interior Minister Chaudhry Nisar Ali Khan, while addressing a joint press conference along with British Home Secretary Amber
Published 22 Mar, 2017 12:00am
February textile exports down 2.53 percent YoY
Cotton

February textile exports down 2.53 percent YoY

Textile exports decreased by 2.53 percent in February 2017 over the same month a year ago and 6.48 percent as compared with previous month, according to Pakistan Bureau of Statistics (PBS). The provisional trade data of select commodities released by the
Published 22 Mar, 2017 12:00am
February textile exports down 2.53 percent YoY
Cotton

February textile exports down 2.53 percent YoY

Textile exports decreased by 2.53 percent in February 2017 over the same month a year ago and 6.48 percent as compared with previous month, according to Pakistan Bureau of Statistics (PBS). The provisional trade data of select commodities released by the
Published 22 Mar, 2017 12:00am
February textile exports down 2.53 percent YoY
Cotton

February textile exports down 2.53 percent YoY

Textile exports decreased by 2.53 percent in February 2017 over the same month a year ago and 6.48 percent as compared with previous month, according to Pakistan Bureau of Statistics (PBS). The provisional trade data of select commodities released by the
Published 22 Mar, 2017 12:00am
Lack of absorption capacity

Lack of absorption capacity

Pakistan's capacity to absorb project loans by multilaterals/bilaterals is severely limited however interest begins to accrue on loans as soon as they are formally approved by multilateral/bilateral boards of directors/governments. The reason for the low
Published 22 Mar, 2017 12:00am
As the border reopens

As the border reopens

The border crossings with Afghanistan at Torkham and Chaman have been reopened, to enable thousands of intending returnees stuck on this side of the border. Simultaneously, this facilitated the resumption of trade between the two countries. Prime Minister
Published 22 Mar, 2017 12:00am
Building bridges

Building bridges

With the China Pakistan Economic Corridor (CPEC) project all set to move from the drawing board to the work place, urgent reforms are needed that influence labour productivity - such as those in education. The ingredients for the recipe for such a reform
Published 22 Mar, 2017 12:00am
Executive arm: between the brass and the bench

Executive arm: between the brass and the bench

The Executive arm of the government, represented by ministers and senior civil servants, is our favourite punching bag. Rare is the day when we are not served the delicious fare of executive-bashing. And it is a moveable feast: one day in Quetta, another
Published 22 Mar, 2017 12:00am
Challenge of circular debt

Challenge of circular debt

When we talk of the turnaround of the power sector by presenting the improved figures of recoveries and losses, claiming it as a historic achievement; when such claims are also supported by the experience in a factory enjoying zero load shedding after so
Published 22 Mar, 2017 12:00am
Commodity financing

Commodity financing

This refers to a news item "TCP saves Rs 7.8bn in commodity financing" carried byBusiness Recorder on 23.02.2017. Saving of financial cost has always been top priority of all business enterprises whether they runs by the government or private secto
Published 22 Mar, 2017 12:00am
US oil hits November low as fresh glut fears overshadow Opec cut talk

US oil hits November low as fresh glut fears overshadow Opec cut talk

Oil prices fell on Tuesday, with US crude dropping to its lowest since November, as concerns about new supplies overshadowed the latest talk by Opec that it was looking to extend output cuts beyond June. The decline also came ahead of the release of US cr
Published 22 Mar, 2017 12:00am
Light grades under pressure from ample supplies, low demand

Light grades under pressure from ample supplies, low demand

Light grades remained under pressure in the Middle East crude market especially after spot values of Russian grades slipped further to the lowest in years, hurt by ample supplies and lower demand in Asia. Asian refiners are replacing Middle East and Russi
Published 22 Mar, 2017 12:00am
US MIDDAY: gold climbs
Currency

US MIDDAY: gold climbs

Gold rallied on Tuesday as a strong performance from centrist presidential candidate Emmanuel Macron in a French election debate and fading expectations for near term US interest rate hikes pushed the dollar to a six-week low versus the euro. Weakness in
Published 22 Mar, 2017 12:00am
US MIDDAY: wheat extends declines

US MIDDAY: wheat extends declines

US wheat futures dropped to their lowest level in more than six weeks on Tuesday, their second straight day of declines, as the weather forecast bolstered expectations for strong yields adding to already-abundant supplies in thhe coming weeks, traders sai
Published 22 Mar, 2017 12:00am
Gold dips in Europe

Gold dips in Europe

Gold dipped on Tuesday as a weaker dollar only partially offset a price slide in Asian trading hours, after a failure to overcome chart resistance prompted speculative selling following a four-day rally. Confidence in the metal was also dampened by a thir
Published 22 Mar, 2017 12:00am
Gold slips in Asia

Gold slips in Asia

Gold prices edged lower on Tuesday, failing to break a key resistance but hovered near a two-week high hit in the previous session on prospects of a less-hawkish Federal Reserve policy. The Fed is likely to wait at least until June policy meeting to decid
Published 22 Mar, 2017 12:00am
Gold hits two-week high in New York

Gold hits two-week high in New York

Gold prices edged higher to a two-week peak on Monday as the dollar slid to a six-week low after a G20 weekend summit dominated by the US administration's protectionist stance. The precious metal has been rising since Wednesday, when the dollar dropped af
Published 22 Mar, 2017 12:00am
Raw sugar sinks to 10-month low, cocoa extends rebound

Raw sugar sinks to 10-month low, cocoa extends rebound

Raw sugar futures on ICE sank more than 3 percent to a 10-month low on Tuesday, reaching the most oversold level in two years as fund selling picked up. Cocoa prices rose to two-month highs, rallying for the second straight day on chart-based buying.
Published 22 Mar, 2017 12:00am
Palm oil rebounds

Palm oil rebounds

Malaysian palm oil futures rebounded on Tuesday from a three-day low to chart their strongest daily gain in a week, tracking stronger soyaoil prices and supported by forecasts of weaker output. Benchmark palm oil futures for June delivery on the Bursa Mal
Published 22 Mar, 2017 12:00am
Tokyo rubber slides

Tokyo rubber slides

Benchmark Tokyo rubber futures slid on Tuesday, following a plunge in Shanghai futures while a firmer yen prompted fresh selling after market participants in Tokyo returned from a public holiday on Monday. The Tokyo Commodity Exchange (TOCOM) rubber contr
Published 22 Mar, 2017 12:00am
Copper hits one-week low as Chile and Indonesia supply woes fade

Copper hits one-week low as Chile and Indonesia supply woes fade

Copper hit a one-week low on Tuesday as talks to resolve a strike at the world's biggest copper mine in Chile were set to resume and production at another huge mine in Indonesia restarted. Benchmark copper on the London Metal Exchange ended down 1.8 perce
Published 22 Mar, 2017 12:00am
Shanghai copper down

Shanghai copper down

Shanghai Futures Exchange copper was down 1.6 percent at 47,290 yuan ($6,855) a tonne on Tuesday after unions and miner BHP Billiton said they would hold further talks that could lead to the restart of production at the world's biggest copper mine. The un
Published 22 Mar, 2017 12:00am
System will be able to transport 30000 megawatts power by end-2018: NTDC

System will be able to transport 30000 megawatts power by end-2018: NTDC

The country's power transmission system will be able to transport 30,000 Megawatts (MW) of electricity by the end of the 2018. This was stated by the top officials of National Transmission and Dispatch Company (NTDC) while briefing the participants of the
Published 22 Mar, 2017 12:00am
Ulema urged to save young generation from terrorism

Ulema urged to save young generation from terrorism

Ulema (religious scholars) should spread pegha-me-Haqanaite related to Islam to the humanity of whole world to fulfil their responsibilities for saving the young generation from terrorism. Those who spread anarchy are the enemies of Ummet-e-Muslima. It is
Published 22 Mar, 2017 12:00am
NAB to probe against Khar's nephew

NAB to probe against Khar's nephew

National Accountability Bureau (NAB) Multan has authorized investigation against former MPA / Nazim Malik Muhammad Rafiq Khan who is a nephew of former Punjab Governor Malik Ghulam Mustafa Khar for fraudulent allotment of 4622 kanal of state land and 1000
Published 22 Mar, 2017 12:00am
NAB files references against KP speaker and others

NAB files references against KP speaker and others

National Accountability Bureau (NAB) Tuesday approved complaint verification filed against Speaker Khyber Pakhtunkhwa Assembly Asad Qaisar over his alleged involvement in corrupt practices and accumulating assets beyond known sources of income. An officia
Published 22 Mar, 2017 12:00am
Lodhi urges Pak-Americans to step up political engagement

Lodhi urges Pak-Americans to step up political engagement

Pakistan's Ambassador to the UN, Dr Maleeha Lodhi told a large community gathering that Pakistan has met its challenges over the years by its resilience, faith and grit, says a press release received here today from New York. Speaking at an event organise
Published 22 Mar, 2017 12:00am
UK Home Secretary calls on Prime Minister

UK Home Secretary calls on Prime Minister

Amber Rudd Member Parliament, Home Secretary of the United Kingdom called on Prime Minister Muhammad Nawaz Sharif at Prime Minister House here on Tuesday. Welcoming the Home Secretary to Pakistan, the Prime Minister recalled his productive meeting with Pr
Published 22 Mar, 2017 12:00am
Avoidance of double taxation: Pakistan and Switzerland sign agreement

Avoidance of double taxation: Pakistan and Switzerland sign agreement

Pakistan and Switzerland signed the revised Agreement on Avoidance of Double Taxation with respect to taxes on income. The Agreement was signed by the Ambassador of Switzerland, Marc George and Chairman, Federal Board of advanceRevenue, Dr Muhammad Irshad
Published 22 Mar, 2017 12:00am
PC Karachi being awarded with First ISO 22000 certified hotel

PC Karachi being awarded with First ISO 22000 certified hotel

The Pearl Continental Hotel Karachi, one of the iconic properties of Hashoo hotels, offers an exceptional hospitality in a city considered as an important economic hub of Pakistan, it is the first 5-star hotel of Pakistan. The Hashoo Hotels is pleased to
Published 22 Mar, 2017 12:00am
AIGP visits police posts in peripheral areas

AIGP visits police posts in peripheral areas

Acting Inspector General of Police (AIGP) Khyber Pakhtunkhwa Syed Akhtar Ali Shah Tuesday paid a surprise visit to police posts in the peripheral areas of Peshawar situated along the boundary with Khyber Agency. During the visit, AIGP visited Bara Qadeem
Published 22 Mar, 2017 12:00am
Government criticised for 'deliberately' delaying new NFC Award

Government criticised for 'deliberately' delaying new NFC Award

The lawmakers in the Senate on Tuesday lambasted the government for 'deliberately' delaying new National Finance Commission (NFC) Award and staged a walkout in protest against the unsatisfactory response from the Finance Minister. They declared the delay
Published 22 Mar, 2017 12:00am
Importers face undue delay in clearance of goods at AFU

Importers face undue delay in clearance of goods at AFU

Importers are now facing a week's delay in the clearance of consignments at Air Freight Unit (AFU), Karachi as the customs department has started examining 100 percent consignments following the seizure of Rs 48 million worth cellphones by the Directorate
Published 22 Mar, 2017 12:00am
Importers face undue delay in clearance of goods at AFU

Importers face undue delay in clearance of goods at AFU

Importers are now facing a week's delay in the clearance of consignments at Air Freight Unit (AFU), Karachi as the customs department has started examining 100 percent consignments following the seizure of Rs 48 million worth cellphones by the Directorate
Published 22 Mar, 2017 12:00am
Pak Suzuki Motor's PAT stands at Rs 2.772 billion

Pak Suzuki Motor's PAT stands at Rs 2.772 billion

The profit after tax of Pak Suzuki Motor Company stood at Rs 2.772 billion in the year ended December 31, 2016 as compared to Rs 5.842 billion earned in the year 2015. The company's earning per share stood at Rs 33.69 in the period under review against Rs
Published 22 Mar, 2017 12:00am
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