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Archive - 2017-03-23
Glaxo Healthcare: formal trading in shares begins on PSX

Glaxo Healthcare: formal trading in shares begins on PSX

The formal trading in the shares of Glaxo Consumer Healthcare Pakistan Limited started from Wednesday on Pakistan Stock Exchange (PSX). On this occasion, a special ceremony was held at main trading hall of the PSX. The Chief Executive Officer of Glaxo Con
Published 23 Mar, 2017 12:00am
PU clash: case registered against PSF, IJT students

PU clash: case registered against PSF, IJT students

Police on Wednesday registered a case against several students arrested after a clash between Pashtun Student Federation (PSF) and Islami Jamiat Talba (IJT) in Punjab University on Tuesday. The clash had left at least 10 students wounded. The case was reg
Published 23 Mar, 2017 12:00am
Agriculture ties to be strengthened: Argentinean envoy
Cotton

Agriculture ties to be strengthened: Argentinean envoy

Argentinean Ambassador to Pakistan Ivan Ivanissevich has said that his country would assist Pakistan in agricultural advancements for transforming the sector with modern tools including precision approaches, zero tillage, and proper weed eradication etc.
Published 23 Mar, 2017 12:00am
Roomi discusses various issues with CEO Tusdec

Roomi discusses various issues with CEO Tusdec

President of Multan Chamber of Commerce & Industry (MCCI), Khawaja Jalaluddin Roomi while exchanging views with the Chief Executive Officer of Technology Up-gradation and Skill Development Company (TUSDEC), Alamgir Chaudhry said that skill building is a p
Published 23 Mar, 2017 12:00am
Kenya has liberal visa policy: envoy

Kenya has liberal visa policy: envoy

High Commissioner of Kenya Professor Julius Kibet Bitok has said that there is no restriction on any Pakistani's visit to Kenya as they have very liberal policy of issuing visa on arrival at the airport. Discussing matters related to enhancing bilateral t
Published 23 Mar, 2017 12:00am
Monetary Policy on March 25

Monetary Policy on March 25

The State Bank of Pakistan (SBP) will announce its Monetary Policy for next two months on Saturday, March 25, 2017. The Monetary Policy Statement will be announced through a press release that would be issued by the central bank after the meeting of its b
Published 23 Mar, 2017 12:00am
KE opposes integrated multi-year tariff determination

KE opposes integrated multi-year tariff determination

The Integrated Multi-Year Tariff Determination issued by NEPRA on March 20, 2017 discourages investment and is ultimately not in the long-term interest of the citizens of Karachi. Moreover, contrary to certain reports, the determination has no impact on c
Published 23 Mar, 2017 12:00am
NFC, EMV debit card issuance: UnionPay and DIBP sign accord

NFC, EMV debit card issuance: UnionPay and DIBP sign accord

UnionPay International, the global leading payment network and Dubai Islamic Bank Pakistan (DIBP), Pakistan's premier banking institution have entered into a historic agreement to issue Union Pay Quick Pass (NFC) and EMV Chip Cards in Pakistan. With this
Published 23 Mar, 2017 12:00am
PIA CEO pays surprise visit to Jinnah Airport

PIA CEO pays surprise visit to Jinnah Airport

Chief Executive Officer Pakistan International Airlines (PIA) Bernd Hildenbrand Wednesday paid a surprise visit to Jinnah International Airport Karachi and monitored the performance of PIA staff at checkin counters. According to PIA Spokesperson, Danyal G
Published 23 Mar, 2017 12:00am
PSX asks two companies to fulfil requirement

PSX asks two companies to fulfil requirement

Pakistan Stock Exchange (PSX) has announced that Diamond Industries Limited and Shaffi Chemical Industries Limited will be placed in the defaulters' segment with effect from March 24, 2017. In a notice issued on Wednesday, the PSX instructed the said comp
Published 23 Mar, 2017 12:00am
Nasiruddin named FPCCI body chief

Nasiruddin named FPCCI body chief

President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Zubair F Tufal has appointed Nasiruddin Fateh Kukda as Chairman of FPCCI Standing Committee on Dyers, Chemicals and Allied products for the year 2017.
Published 23 Mar, 2017 12:00am
Experts call for reusing wastewater to promote food security

Experts call for reusing wastewater to promote food security

'In the context of global climate change, rapidly increasing population and urbanization across the developing world, water scarcity is being viewed as a yardstick against which these variables-potentially disastrous social, economic and environmental con
Published 23 Mar, 2017 12:00am
FBR given April 10 deadline for accepting chambers' demands
Cotton

FBR given April 10 deadline for accepting chambers' demands

All the chambers and industrial associations have given the deadline of 10 April to the Federal Board of Revenue (FBR) for acceptance of their demands. Till than chambers will hoist black flags and office-bearers and executive committees would bear black
Published 23 Mar, 2017 12:00am
Islamic banking gains enormous international attention: Dr Ayesha

Islamic banking gains enormous international attention: Dr Ayesha

Provincial Minister for Finance Dr Ayesha Ghous Pasha has said that Islamic banking has gained enormous international attention since a number of decades due to its large growth and resilience to financial crises as well as the nature of Sharia-compliant
Published 23 Mar, 2017 12:00am
Pakistan was not created for loot & nepotism: Shahbaz

Pakistan was not created for loot & nepotism: Shahbaz

Punjab Chief Minister Muhammad Shehbaz Sharif in his message on the Pakistan Day has congratulated the nation and said they at present need the same unity and harmony that was displayed on March 23, 1940. He said they could make progress and make Pakistan
Published 23 Mar, 2017 12:00am
Growers slam India's water aggression policy

Growers slam India's water aggression policy

Growers across the province on Wednesday hoist black flags on roof top of their homes, wore black bands around their arms and participated in different rallies and seminars to protest against Indian Water Aggression against Pakistan and to mark the World
Published 23 Mar, 2017 12:00am
World Water Day: National policy on sustainable use of wastewater urged

World Water Day: National policy on sustainable use of wastewater urged

Pakistan has no national policy on sustainable use of wastewater in Pakistan. A negligible portion ie 8% of wastewater in Pakistan is treated through sedimentation ponds to a primary level only but most of the treatment plants are not functional, therefor
Published 23 Mar, 2017 12:00am
Symposium on ENT, head & neck surgery held at LUMHS

Symposium on ENT, head & neck surgery held at LUMHS

The "1st ENT and head & neck surgery symposium" was inaugurated at Liaquat University of Medical & Health Sciences Jamshoro yesterday at LUMHS campus. While addressing the participants, Vice Chancellor LUMHS Professor Noshad A Shaikh said that the departm
Published 23 Mar, 2017 12:00am
'SVPL trading terminals to remain shut till notice'

'SVPL trading terminals to remain shut till notice'

Pakistan Stock Exchange (PSX) has informed that the trading terminals of M/S Stock Vision (Private) Limited (SVPL) shall remain suspended till further notice. The PSX, through its notice issued on Wednesday, advised all clients of SVPL to exercise cautiou
Published 23 Mar, 2017 12:00am
Pakistan voices concern over arrest of Hurriyat leaders

Pakistan voices concern over arrest of Hurriyat leaders

Pakistan on Wednesday expressed serious concerns over the arrest and detention of senior Kashmir leaders to prevent them from attending Pakistan Day reception at the High Commission in New Delhi and called for their release. In a statement, Foreign Office
Published 23 Mar, 2017 12:00am
Kazmi released from Adiala Jail

Kazmi released from Adiala Jail

Former Minister for Religious Affairs Hamid Saeed Kazmi was released from the Adiala jail on Wednesday, two days after the Islamabad High Court acquitted him and others in the Hajj corruption cases. The former minister spoke to the media, he said that he
Published 23 Mar, 2017 12:00am
SNGPL suspends gas supply

SNGPL suspends gas supply

SNGPL has suspended the gas supply to Karak, Bannu, Lakki Marwat, Tank, and Bhakkar districts since last night due to the damaged transmission pipeline at Peer Mela village in District Karak. SNGPL regrets the inconvenience caused to all the domestic, com
Published 23 Mar, 2017 12:00am
Customs Rules amended: FBR acts to curb counterfeit, pirated goods

Customs Rules amended: FBR acts to curb counterfeit, pirated goods

To control imports of counterfeit/pirated goods, the Federal Board of Revenue (FBR) has empowered the Directorate General of Intellectual Property Right (IPR) (Enforcement) to detain imported goods suspected to be infringing goods for enforcement of Intel
Published 23 Mar, 2017 12:00am
Work on Customs complex at Torkham begins

Work on Customs complex at Torkham begins

Collector Customs Peshawar, Qurban Ali Khan said on Wednesday that construction work on Rs 112 billion mega state-of-the art Border Custom Complex at Torkham has been started to enhance regional trade with Afghanistan and Central Asian Republics (CARs).
Published 23 Mar, 2017 12:00am
Sindh plans to devolve car registration to dealers

Sindh plans to devolve car registration to dealers

Sindh Excise and Taxation (E&T) Department is planning to devolve motor vehicle registration to car dealers by next fiscal year. In an exclusive talk on the sidelines of Tax Reforms Committee meeting, Director General E&T Shoaib Siddiqui said that Sindh E
Published 23 Mar, 2017 12:00am
Sindh plans to devolve car registration to dealers

Sindh plans to devolve car registration to dealers

Sindh Excise and Taxation (E&T) Department is planning to devolve motor vehicle registration to car dealers by next fiscal year. In an exclusive talk on the sidelines of Tax Reforms Committee meeting, Director General E&T Shoaib Siddiqui said that Sindh E
Published 23 Mar, 2017 12:00am
BISP custodian of NSER: Marvi

BISP custodian of NSER: Marvi

BISP is the prime platform of empowerment and financial inclusion for the downtrodden women of Pakistan. By providing financial assistance to 5.4 million deserving families and adopting state of the art technology and best international practices, BISP ha
Published 23 Mar, 2017 12:00am
CM Sindh inaugurates first free PET CT facility at SIUT

CM Sindh inaugurates first free PET CT facility at SIUT

Sindh Chief Minister Syed Murad Ali Shah inaugurated the 1st free cancer scanning facility PET CT Scan at SIUT's Mehrunnisa Medical Centre, Korangi, Karachi. PET CT (Positron Emission Tomography) Scan is a major diagnostic tool for the cancer population a
Published 23 Mar, 2017 12:00am
HBL, DTBK enter into agreement

HBL, DTBK enter into agreement

Habib Bank Limited (HBL) has entered into an agreement with Diamond Trust Bank Kenya (DTBK) to transfer/sell the business, assets and liabilities of Habib Bank Kenya branches to DTBK in consideration for which HBL will receive an additional 13,281,105 sha
Published 23 Mar, 2017 12:00am
Lecture on 'What is Pakistaniat?' held

Lecture on 'What is Pakistaniat?' held

"What is Pakistaniat?" a question, which is widely asked even after almost 70th year of independence, is convincingly answered by renowned intellectual, politician and former Senator Javeed Jabbar. A lecture on "What is Pakistaniat? Reflections on the mul
Published 23 Mar, 2017 12:00am
Farmers advised to carry out spray

Farmers advised to carry out spray

The Met Office has asked the farmers to step up carrying out prophylactic fungicidal sprays to safeguard vegetable crops from diseases. It also said that the farmers should also ensure field sanitation to protect standing crops from viral attacks. It said
Published 23 Mar, 2017 12:00am
Consensus over proposed accountability bill evolved

Consensus over proposed accountability bill evolved

The Parliamentary Committee on National Accountability Law Wednesday reached a consensus that the proposed Accountability Investigation Agency (AIA) will complete investigation of corruption cases within 60 days and then refer them to National Accountabil
Published 23 Mar, 2017 12:00am
Nauroz celebrated at UN

Nauroz celebrated at UN

Ambassador Maleeha Lodhi speaking at an impressive ceremony to mark Nauroz at the UN on Tuesday said that the idea of Pakistan was born 77 years ago, in 1940, a day after Nowruz. The Pakistani envoy said that this was especially an auspicious time for Pak
Published 23 Mar, 2017 12:00am
Fake degrees: aviation division's 48 employees sacked, Senate body told

Fake degrees: aviation division's 48 employees sacked, Senate body told

The Senate Committee on Rules of Procedure and Privileges on Wednesday disposed of a number of privilege motions moved by senators against the government officials. The committee which met here with Senator Dr Jehanzeb Jamaldini in the chair disposed of p
Published 23 Mar, 2017 12:00am
SC summons NAB chief on March 27

SC summons NAB chief on March 27

The Supreme Court on Wednesday summoned chairman National Accountability Bureau (NAB) on March 27 to apprise the court about the induction of nine officers in the Bureau illegally. Resuming the hearing of a suo motu case regarding alleged illegalities, co
Published 23 Mar, 2017 12:00am
Hindi literature seized

Hindi literature seized

Security forces on Wednesday apprehended a suspect who records video of census team in Karachi. Acting on a tipoff received, security agencies conducted a raid in Karachi's Gulberg area and arrested the suspect who was identified as Danish Jameel. The off
Published 23 Mar, 2017 12:00am
Pakistan Day reminds us of unprecedented sacrifices: Jhagra

Pakistan Day reminds us of unprecedented sacrifices: Jhagra

Khyber Pakhtunkhwa Governor, Engineer Iqbal Zafar Jhagra has said that the auspicious occasion of the Pakistan Day reminds us of the great and immortal sacrifices that paved the way for us to achieve independence and also maintain our freedom, sovereignty
Published 23 Mar, 2017 12:00am
Mamnoon appreciates AKDN services

Mamnoon appreciates AKDN services

President Mamnoon Hussain has appreciated the socio-economic work and services rendered by the Aga Khan Development Network (AKDN), Aga Khan Foundation and Aga Khan Health services in Pakistan under the inspiring and dynamic leadership of His Highness the
Published 23 Mar, 2017 12:00am
'PM ready to accept any decision in Panamagate case'

'PM ready to accept any decision in Panamagate case'

Leaders of ruling Pakistan Muslim League-Nawaz (PML-N) on Wednesday said that Prime Minister Nawaz Sharif presented himself before the Supreme Court (SC) for accountability and he is ready to accept any decision in Panamagate case. Addressing a press conf
Published 23 Mar, 2017 12:00am
ECP to test EVMs, BVMs in next by-election

ECP to test EVMs, BVMs in next by-election

Election Commission of Pakistan (ECP) is all set to test electronic voting machines (EVMs) and biometric verification machines (BVMs) in the next by-election. Pakistani firm Secure Tech won the bid for the supply of EVMs and BVMs. An ECP official said tha
Published 23 Mar, 2017 12:00am
JUI-F slams removal of posters of 'Ijtima'

JUI-F slams removal of posters of 'Ijtima'

Jamiat Ulema-e-Islam-Fazl (JUI-F) has resented the removal of posters, hoarding, and banners of the party, hoisted in different parts of the city for its upcoming International conference 'Ijtima' in Azakhel, and termed it as an attempt of PTI led provinc
Published 23 Mar, 2017 12:00am
Scottish parliament suspends independence vote debate

Scottish parliament suspends independence vote debate

Scottish lawmakers suspended their vote for a second independence referendum on Wednesday following a suspected terrorist incident outside the Houses of Parliament in London. The Scottish Parliament in Edinburgh was just hours away from a landmark decisio
Published 23 Mar, 2017 12:00am
EU's Moscovici admits pricey suit gifts

EU's Moscovici admits pricey suit gifts

Top EU economics official Pierre Moscovici confirmed Wednesday he received expensive suits as gifts from the same shop as embattled French presidential candidate Francois Fillon. Moscovici, a former French finance minister who is now the European Commissi
Published 23 Mar, 2017 12:00am
Seven hurt as Milan-Basel train derails

Seven hurt as Milan-Basel train derails

Seven people were injured Wednesday when a train travelling from the Italian city of Milan to Basel in Switzerland derailed, police and railway officials said. The Eurocity train, which was carrying 160 passengers and was operated by Trenitalia, had just
Published 23 Mar, 2017 12:00am
Erdogan warns Europeans' security at risk as EU feud rages

Erdogan warns Europeans' security at risk as EU feud rages

Turkish President Recep Tayyip Erdogan warned Wednesday that Europeans risk being unsafe on the world's streets, as a crisis between Ankara and the EU showed no signs of abating. "If you continue to behave like this, tomorrow in no part of the world, no E
Published 23 Mar, 2017 12:00am
North Korea fails in new missile test: Seoul

North Korea fails in new missile test: Seoul

A new North Korean missile test failed on Wednesday, the South and US said, two weeks after Pyongyang launched four rockets in what it called a drill for an attack on American bases in Japan. The nuclear-armed North is under several sets of United Nations
Published 23 Mar, 2017 12:00am
Lead poisoning afflicts neighbourhoods across California

Lead poisoning afflicts neighbourhoods across California

Dozens of California communities have experienced recent rates of childhood lead poisoning that surpass those of Flint, Michigan, with one Fresno locale showing rates nearly three times higher, blood testing data obtained by Reuters shows.
Published 23 Mar, 2017 12:00am
ICC jails former Congo vice president

ICC jails former Congo vice president

Judges on Wednesday sentenced former Congolese vice president Jean-Pierre Bemba to a year in jail and fined him 300,000 euros for bribing witnesses during his war crimes trial in an unprecedented case before the International Criminal Court. "The chamber
Published 23 Mar, 2017 12:00am
Trump wishes Iranians happy New Year

Trump wishes Iranians happy New Year

US President Donald Trump on Wednesday issued belated best wishes to those celebrating the Persian New Year. In a statement, the outspoken Iran critic sent "best wishes to all those around the world celebrating the wonderful ancient holiday of Nowruz." Th
Published 23 Mar, 2017 12:00am
Luxembourg court denies Iran demand to unblock assets

Luxembourg court denies Iran demand to unblock assets

A Luxembourg court on Wednesday denied a demand by Tehran to repatriate $1.6 billion of Iranian assets claimed by the US as compensation for the victims of the September 11, 2001 attacks. The judge ruled that the assets could remain frozen in the small EU
Published 23 Mar, 2017 12:00am
Saudi Arabia loses Fitch rating over budget concerns

Saudi Arabia loses Fitch rating over budget concerns

Saudi Arabia on Wednesday lost its high-quality credit rating from the Fitch agency, which lowered the kingdom a notch because of worsening public finances as the oil price wobbles. Dropping its notation from AA- to A+, Fitch said it was doubtful whether
Published 23 Mar, 2017 12:00am
Saudi Arabia loses Fitch rating over budget concerns

Saudi Arabia loses Fitch rating over budget concerns

Saudi Arabia on Wednesday lost its high-quality credit rating from the Fitch agency, which lowered the kingdom a notch because of worsening public finances as the oil price wobbles. Dropping its notation from AA- to A+, Fitch said it was doubtful whether
Published 23 Mar, 2017 12:00am
Laptop ban sparks ire among Middle East travellers

Laptop ban sparks ire among Middle East travellers

Travellers across the Middle East expressed frustration Wednesday at a ban on large electronic devices for flights to the United States and Britain that has sparked confusion and speculation. From Saturday, passengers on flights to the United States and B
Published 23 Mar, 2017 12:00am
UK laptop ban on flights to be implemented by Saturday

UK laptop ban on flights to be implemented by Saturday

Airlines impacted by Britain's cabin ban on electronic devices on flights from some Middle East and North Africa countries have until Saturday to implement the measure, officials said Wednesday. But passengers "should go to the airport with the expectatio
Published 23 Mar, 2017 12:00am
Israel seals Jerusalem home of Palestinian attacker

Israel seals Jerusalem home of Palestinian attacker

Israeli forces are sealing off the east Jerusalem home of a Palestinian who killed four soldiers in a truck-ramming attack before being shot dead, police said Wednesday. Fadi al-Qunbar, 28, rammed his vehicle into a group of soldiers visiting a popular to
Published 23 Mar, 2017 12:00am
Belgium falls silent one year after Brussels attacks

Belgium falls silent one year after Brussels attacks

Belgium fell silent Wednesday to mark the first anniversary of the Islamic State suicide attacks in Brussels that killed 32 people, on a day of emotional ceremonies designed to show that the heart of Europe is still beating. A sombre King Philippe and Que
Published 23 Mar, 2017 12:00am
Moscow fury as Kiev bans Russia singer from Eurovision

Moscow fury as Kiev bans Russia singer from Eurovision

Tensions between Russia and Ukraine spread to the Eurovision Song Contest on Wednesday after Kiev banned a Russian contestant from entering the country over a past performance in Moscow-annexed Crimea. Ukrainian security service (SBU) spokeswoman Olena Gi
Published 23 Mar, 2017 12:00am
East Timor revokes passports of nine Brazil-born players

East Timor revokes passports of nine Brazil-born players

East Timor has revoked the passports of nine Brazil-born players on its national team following revelations they had submitted falsified documents, Asia's football governing body said Wednesday. The Asian Football Confederation (AFC) said it received info
Published 23 Mar, 2017 12:00am
Quetta-Sherani draw 1-1 as Balochistan Football final round begins

Quetta-Sherani draw 1-1 as Balochistan Football final round begins

Quetta DFA and Sherani teams played the first match of the final round of PPL Balochistan Football Cup 2017 at Government High School Yazdan Khan Ground, Quetta. The faced-paced match with excellent grip by both teams led to a draw 1-1. Quetta's Yaqoob Kh
Published 23 Mar, 2017 12:00am
US hands Japan first loss to reach WBC final

US hands Japan first loss to reach WBC final

Adam Jones delivered the game-winning RBI in the eighth inning as the US toppled Japan 2-1 Tuesday to reach their first World Baseball Classic final, where they will face undefeated Puerto Rico. The Americans made the final by knocking off a Japanese team
Published 23 Mar, 2017 12:00am
Ex-WWE wrestlers to brawl in Pakistan as security improves

Ex-WWE wrestlers to brawl in Pakistan as security improves

More than two dozen pro wrestlers will be ready to rumble in Pakistan this summer as security improves, including former fighters from major US conglomerate World Wrestling Entertainment (WWE), organisers said Wednesday. Pakistani firm Pro Wrestling Enter
Published 23 Mar, 2017 12:00am
British wrestler gets four-year drug ban

British wrestler gets four-year drug ban

An eight-time British wrestling champion has been given a four-year suspension by UK anti-doping authorities after testing positive for a steroid, it was announced Wednesday. Chinu Sandhu, who also won a bronze medal at the 2014 Commonwealth Games in Glas
Published 23 Mar, 2017 12:00am
Liverpool great Moran dies

Liverpool great Moran dies

Former Liverpool captain, coach and caretaker manager Ronnie Moran has died aged 83, his son Paul announced on Wednesday. "I am devastated to tell everyone on behalf of the family that my dad passed away this morning after a short illness," Paul Moran sai
Published 23 Mar, 2017 12:00am
Paris joins Los Angeles in rejecting 2028 Olympic bid

Paris joins Los Angeles in rejecting 2028 Olympic bid

Paris 2024 Olympic bid directors rejected on Wednesday the notion of hosting the 2028 Games, saying their target was the 2024 edition, reflecting the position of rival bidders Los Angeles. Statements from the two bidders come in the wake of reports the IO
Published 23 Mar, 2017 12:00am
Bayern opens China office

Bayern opens China office

German powerhouse Bayern Munich opened a Shanghai office Wednesday in a bid to capitalise on China's vast fan base and voracious hunger for top-flight football training. Chairman Karl-Heinz Rummenigge announced the opening of its office in the German Cent
Published 23 Mar, 2017 12:00am
BCCI announces windfall for contracted players

BCCI announces windfall for contracted players

The Indian cricket board Wednesday doubled the salaries of its contracted players while retaining former skipper Mahendra Singh Dhoni in the top pay bracket. Players holding a Grade A contract will now get an annual retainer fee of $3.05 million instead o
Published 23 Mar, 2017 12:00am
Aussie and kiwi fall

Aussie and kiwi fall

The Australian dollar slipped to one-week lows on Wednesday as investors sold riskier assets and rushed towards safe havens, such as gold and government bonds, on concerns about US President Donald Trump's economic growth agenda. Investors became jittery
Published 23 Mar, 2017 12:00am
Sterling rally halts
Currency

Sterling rally halts

The pound flattened out on Wednesday after hitting its highest levels in almost four weeks, as speculation that the Bank of England will raise rates within the next year was cooled by broader concerns about a Brexit-driven economic slowdown. Sterling has
Published 23 Mar, 2017 12:00am
Asian forex: risk aversion drives selling of Asian currencies

Asian forex: risk aversion drives selling of Asian currencies

Doubts the Trump administration would be able to pass a new healthcare plan this week to replace "Obamacare", let alone deliver promised tax cuts and corporate deregulation, dragged down Emerging Asia currencies on Wednesday. Investors worried that a fail
Published 23 Mar, 2017 12:00am
Sri Lankan rupee falls
Currency

Sri Lankan rupee falls

The Sri Lankan rupee fell in thin trade on Wednesday as dollar demand from importers offset selling of the US currency by exporters ahead of a decision on interest rates by the central bank. The bank meets to discuss monetary policy later this week and co
Published 23 Mar, 2017 12:00am
Bangladesh's intebank forex rates

Bangladesh's intebank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Wednesday. 79.62-79.63 (previous 79.59-79.60).
Published 23 Mar, 2017 12:00am
Dollar dips against yen in New York
Currency

Dollar dips against yen in New York

The dollar dipped to a near-four month low against the Japanese yen on Tuesday as concerns about how quickly the Trump administration can implement pro-growth policies pushed stocks lower and kindled safe-haven demand for the Japanese currency. The dollar
Published 23 Mar, 2017 12:00am
Early trade in New York: dollar extends losses against yen
Currency

Early trade in New York: dollar extends losses against yen

The dollar lost further ground on Wednesday and hit a four-month low against the safe-haven yen, with investors rethinking the growth expectations under a Trump administration that had pushed the greenback to a 14-year peak and stocks to record highs. The
Published 23 Mar, 2017 12:00am
Dollar hits four-month low against yen in Europe
Currency

Dollar hits four-month low against yen in Europe

The dollar hit a four-month low against the safe-haven yen on Wednesday as a risk-off mood took hold across markets, with investors rethinking the "Trumpflation trade" that had pushed the greenback to a 14-year peak and stocks to record highs. Shares on W
Published 23 Mar, 2017 12:00am
Dollar struggles in Asia
Currency

Dollar struggles in Asia

The dollar struggled near a four-month low against the yen on Wednesday as a bout of investor risk aversion hit US stocks and sent US Treasury yields sharply lower, eroding the greenback's interest rate allure. The US currency was off 0.1 percent at 111.6
Published 23 Mar, 2017 12:00am
FTSE lags Europe as stronger pound compounds losses
Currency

FTSE lags Europe as stronger pound compounds losses

British shares pulled back on Wednesday, weighed by banks and miners, as investors repriced expectations for fiscal easing from the US and a stronger outlook for sterling compounded weakness in the UK stock market. Britain's blue-chip FTSE 100 index was d
Published 23 Mar, 2017 12:00am
Southeast Asian markets lower

Southeast Asian markets lower

Southeast Asian stock markets ended lower on Wednesday, tracking Asian peers and Wall Street overnight that fell on worries US President Donald Trump will struggle to deliver promised tax cuts and on nervousness ahead of a key healthcare vote. Trump tried
Published 23 Mar, 2017 12:00am
European shares hit two-week low as banks, Gemalto tumble

European shares hit two-week low as banks, Gemalto tumble

European shares hit a two-week low on Wednesday, extending losses from the previous session, weighed down by weaker banks and a plunge in security services firm Gemalto following a profit warning. The pan-European STOXX 600 index ended down 0.4 percent, l
Published 23 Mar, 2017 12:00am
China stocks down

China stocks down

China stocks fell on Wednesday due to worries over tightening liquidity in the domestic banking system, and uncertainty over whether US President Donald Trump will be able to get his economic policies approved in a timely fashion. The blue-chip CSI300 ind
Published 23 Mar, 2017 12:00am
Oil near $50 hurts Gulf markets, but Kuwait jumps

Oil near $50 hurts Gulf markets, but Kuwait jumps

Major stock markets in the Middle East fell on Wednesday, following international bourses lower as crude oil prices traded down near $50 a barrel, but Kuwait jumped in heavy trading by local retail investors. The Saudi Arabian index lost 1.2 percent in lo
Published 23 Mar, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell to three-week lows on Tuesday as stock markets tumbled, raising demand for low-risk US government debt, with analysts citing frustration with the pace of the Trump administration's fiscal plans as a factor behind the move. Wall Str
Published 23 Mar, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell to three-week lows on Tuesday as stock markets tumbled, raising demand for low-risk US government debt, with analysts citing frustration with the pace of the Trump administration's fiscal plans as a factor behind the move. Wall Str
Published 23 Mar, 2017 12:00am
Hong Kong stocks fall

Hong Kong stocks fall

Hong Kong stocks fell on Wednesday, with sentiment hurt by sharp losses on Wall Street on concerns US President Donald Trump will struggle to deliver tax cuts and other reflationary economic policies. The benchmark Hang Seng index broke a four-session win
Published 23 Mar, 2017 12:00am
Indian shares drop

Indian shares drop

Indian shares dropped for a third straight session on Wednesday as banking and automobile shares fell, while regional markets were trading lower tracking overnight losses on Wall Street on doubts over US President Donald Trump's economic policies. Asian s
Published 23 Mar, 2017 12:00am
Wall Street sinks on fears of delays to Trump tax cuts

Wall Street sinks on fears of delays to Trump tax cuts

Wall Street fell sharply on Tuesday as investors worried that President Donald Trump will struggle to deliver promised tax cuts that propelled the market to record highs in recent months, with nervousness deepening ahead of a key healthcare vote. The S&P
Published 23 Mar, 2017 12:00am
Wednesday's early trade: S&P, Nasdaq rise as investors seek bargains

Wednesday's early trade: S&P, Nasdaq rise as investors seek bargains

The S&P and the Nasdaq reversed course to climb higher in afternoon trading on Wednesday, as investors sought bargains a day after the major indexes posted their biggest one-day loss since before the election. Apple was up about 1 percent and provided the
Published 23 Mar, 2017 12:00am
Tokyo shares post biggest one-day fall since Trump win
Currency

Tokyo shares post biggest one-day fall since Trump win

Tokyo stocks on Wednesday suffered their biggest one-day fall since US President Donald Trump's November election victory, as investors grow increasingly concerned about the rookie politician's ability to advance his economy-boosting agenda. Tracking loss
Published 23 Mar, 2017 12:00am
Tight supply, higher prices weigh on US home sales

Tight supply, higher prices weigh on US home sales

US home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining prospective buyers. The National Association of Realtors said on Wednesday existing home sales declined 3.7 per
Published 23 Mar, 2017 12:00am
Deutsche Bahn names new CEO after shock walkout

Deutsche Bahn names new CEO after shock walkout

German rail giant Deutsche Bahn on Wednesday named finance director Richard Lutz as its new chief executive, replacing a boss who quit unexpectedly after contract talks broke down. A Bahn man since 1994, Lutz is little known to the public but deeply famil
Published 23 Mar, 2017 12:00am
China's Sinopec buys first major refinery in Africa from Chevron

China's Sinopec buys first major refinery in Africa from Chevron

China's Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp's South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced on Wednesday. China Petroleum and Chemical Corp,
Published 23 Mar, 2017 12:00am
Porsche celebrates record year with '911' bonus payout

Porsche celebrates record year with '911' bonus payout

German carmaker Porsche said Wednesday it would celebrate a record year with a one-off payment to workers of up to exactly 9,111 euros, a nod to the its iconic 911 sports car. Despite the 'dieselgate' scandal weighing on parent Volkswagen, 21,000 employee
Published 23 Mar, 2017 12:00am
Alibaba to set up logistics hub in Malaysia

Alibaba to set up logistics hub in Malaysia

Alibaba and Malaysia announced Wednesday that they will set up a logistics and e-commerce hub in the Southeast Asian country to boost small and medium-sized companies, a first for the internet giant outside China. The hub will be located near Kuala Lumpur
Published 23 Mar, 2017 12:00am
UK economy growing solidly despite inflation hit: BoE report

UK economy growing solidly despite inflation hit: BoE report

Britain's economy looks set to defy a slowdown again this year as the country moves closer to leaving the European Union, with the hit to shoppers from surging inflation partly offset by more investment and exports, a Bank of England report suggested. Bri
Published 23 Mar, 2017 12:00am
UK economy growing solidly despite inflation hit: BoE report

UK economy growing solidly despite inflation hit: BoE report

Britain's economy looks set to defy a slowdown again this year as the country moves closer to leaving the European Union, with the hit to shoppers from surging inflation partly offset by more investment and exports, a Bank of England report suggested. Bri
Published 23 Mar, 2017 12:00am
Britain-based banks moving to Europe may get easier entry: ECB

Britain-based banks moving to Europe may get easier entry: ECB

Banks looking to move from Britain to the eurozone after Brexit may be given an expedited entry, with supervisors willing to spare them from a lengthy initial test of their risk models, a top European Central Bank official said on Wednesday. The ECB may b
Published 23 Mar, 2017 12:00am
Japan's February trade surplus hits multi-year high

Japan's February trade surplus hits multi-year high

Japan's trade surplus hit a multi-year high in February, government data showed Wednesday, as exports to China rebounded after a Lunar New Year lull. The value of Japan's total shipments abroad rose 11.3 percent, the most in two years, on strong demand fo
Published 23 Mar, 2017 12:00am
Swiss watch exports tumble ahead of Basel trade fair

Swiss watch exports tumble ahead of Basel trade fair

The world's biggest watch fair will open in Switzerland this week, even as slumping exports of luxury Swiss timepieces appear to dash hopes of a market rebound. Global exports of Swiss watches slid 10 percent in February to 1.5 billion Swiss francs ($1.5
Published 23 Mar, 2017 12:00am
Treaty slows global tobacco use by 2.5 percent: WHO

Treaty slows global tobacco use by 2.5 percent: WHO

Tobacco use fell by 2.5 percent world-wide a decade after the first global health treaty went into effect, World Health Organisation researchers said Wednesday. Smoking rates declined most sharply when countries implemented several of the measures called
Published 23 Mar, 2017 12:00am
Modest business in steady cotton market
Currency

Modest business in steady cotton market

Domestic cotton market appeared to be in a steady state on Wednesday even as ginners were in selling mood by starting to unload their stocks. The weather is slowly getting warmer and the new cotton crop (August 2017/July 2018) may arrive after about four
Published 23 Mar, 2017 12:00am
Modest business in steady cotton market
Currency

Modest business in steady cotton market

Domestic cotton market appeared to be in a steady state on Wednesday even as ginners were in selling mood by starting to unload their stocks. The weather is slowly getting warmer and the new cotton crop (August 2017/July 2018) may arrive after about four
Published 23 Mar, 2017 12:00am
Volume of business rises on strong demand
Cotton

Volume of business rises on strong demand

Volume of business improved on the cotton market on Wednesday owing to strong demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 6800, they said. In Punjab, prices of seed cotton were at Rs 3700-3800, as per 40 kg, they
Published 23 Mar, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 127,514 tonnes of cargo comprising 110,289 tonnes of import cargo and 17,225 tonnes of export cargo including 5,224 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 23 Mar, 2017 12:00am
EU wheat slips to near seven-week low
Currency

EU wheat slips to near seven-week low

Euronext wheat futures extended losses on Tuesday to touch their lowest in almost seven weeks, pressured by a rise in the euro and weakness in Chicago as rain relief was forecast for dry US wheat belts. Front-month May milling wheat, the most active on th
Published 23 Mar, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Tuesday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 2,995. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 7.41 billion and the number of lots traded was 14,498. Major business was contributed by go
Published 23 Mar, 2017 12:00am
CBOT wheat futures fall on weather outlook

CBOT wheat futures fall on weather outlook

Chicago Board of Trade wheat futures sagged to their lowest since February 6 on Tuesday, with the weather outlook in focus for the second straight day as forecasts called for crop-boosting rain in key growing areas of the US Plains. The benchmark CBOT May
Published 23 Mar, 2017 12:00am
CBOT soyabean futures firm on bargain buying

CBOT soyabean futures firm on bargain buying

US soyabean futures firmed slightly on Tuesday, with bargain buyers stabilising the market after prices fell for 10 of the previous 11 sessions. Soyabeans closed below session highs as the benchmark Chicago Board of Trade May contract failed to hold techn
Published 23 Mar, 2017 12:00am
Canadian canola futures slip

Canadian canola futures slip

ICE Canadian canola futures mostly dipped on Tuesday, pressured by technical selling of nearby contracts. Most-active May canola lost 50 cents to $504.90 per tonne in thin volume. It fell for the seventh time in eight sessions. July canola gave up 40 cent
Published 23 Mar, 2017 12:00am
Message from Chief of the Air Staff Pakistan Air Force

Message from Chief of the Air Staff Pakistan Air Force

On the auspicious occasion of Pakistan Day, I extend my heartiest felicitations to all citizens of Pakistan. The historic day of our national history - 23 March - reminds us of the epic struggle, unwavering determination and firm resolve of our illustriou
Published 23 Mar, 2017 12:00am
Democracy - why still in such disarray?

Democracy - why still in such disarray?

Some nine years ago the democratic saga was formally inaugurated with the February 2008 elections. That yielded two major and a string of minor parties. The next elections in May 2013 catapulted one major political party, three or four major opposition pa
Published 23 Mar, 2017 12:00am
Political dynamics of the Pakistan Resolution

Political dynamics of the Pakistan Resolution

March twenty-third is observed as a National Day in Pakistan because it was on this date in 1940 that the All India Muslim League under the leadership of Quaid-i-Azam Muhammad Ali Jinnah formally demanded a separate homeland for the Muslims of British Ind
Published 23 Mar, 2017 12:00am
Pakistan Navy: Promoting peace in the Indian Ocean

Pakistan Navy: Promoting peace in the Indian Ocean

Indian Ocean today is arguably the most important water space on the globe. From Mahan to Kaplan all strategists have acknowledged the political as well as economic significance of this ocean. The ocean remains unique in the sense that it has not produced
Published 23 Mar, 2017 12:00am
23rd March is not 'just another day'

23rd March is not 'just another day'

The nation is celebrating yet another Pakistan Resolution Day on 23rd March, which is a very momentous day in Pakistan's history. The Pakistanis commemorate the day every year as a real day of the "making of Pakistan" when a historic Resolution - widely k
Published 23 Mar, 2017 12:00am
Pakistan National Shipping Corporation

Pakistan National Shipping Corporation

Pakistan National Shipping Corporation (PNSC), is a National Flag Carrier enjoys a global presence in the shipping world with a fleet of nine (9) ships. It undertakes business operations in an internationally competitive environment, competes even for tra
Published 23 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 23 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 23 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 23 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 23 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 Wednesday (March 22, 2017).

Published 23 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 Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (March 22, 2017).
Published 23 Mar, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 23 Mar, 2017 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Mar, 2017 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Thursday (March 23) on account of Pakistan Day. Arrangements have, however, been made to bring out the newspaper and Internet edition tomorrow, Friday (March 24), as usual.
Published 23 Mar, 2017 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Thursday (March 23) on account of Pakistan Day. Arrangements have, however, been made to bring out the newspaper and Internet edition tomorrow, Friday (March 24), as usual.
Published 23 Mar, 2017 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

The rupee sustained overnight levels against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee maintained last levels versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
Published 23 Mar, 2017 12:00am
CoAS pledges to rid country of 'Fasaadis'

CoAS pledges to rid country of 'Fasaadis'

Chief of Army Staff (CoAS) General Qamar Javed Bajwa on Wednesday pledged to rid the country of 'Fasaadis' at any cost. The Army Chief expressed this resolve in a special video message released a day ahead of Youm-e-Pakistan (Pakistan Day). "On March 23,
Published 23 Mar, 2017 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

The rupee sustained overnight levels against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee maintained last levels versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
Published 23 Mar, 2017 12:00am
CoAS pledges to rid country of 'Fasaadis'

CoAS pledges to rid country of 'Fasaadis'

Chief of Army Staff (CoAS) General Qamar Javed Bajwa on Wednesday pledged to rid the country of 'Fasaadis' at any cost. The Army Chief expressed this resolve in a special video message released a day ahead of Youm-e-Pakistan (Pakistan Day). "On March 23,
Published 23 Mar, 2017 12:00am
Pakistan Day today

Pakistan Day today

The nation will celebrate the 77th anniversary of Pakistan Day on Thursday (today) against a backdrop of impressive successes by the armed forces and law enforcement agencies in the fight against terrorism that have greatly improved the security environme
Published 23 Mar, 2017 12:00am
Pakistan Day today

Pakistan Day today

The nation will celebrate the 77th anniversary of Pakistan Day on Thursday (today) against a backdrop of impressive successes by the armed forces and law enforcement agencies in the fight against terrorism that have greatly improved the security environme
Published 23 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
Two troops, five militants killed

Two troops, five militants killed

At least two security personnel and five militants were killed during an exchange of firing between the insurgents and the troops in area of Orakzai Agency on Wednesday, the army said. The Inter-Services Public Relations (ISPR) said in a statement that th
Published 23 Mar, 2017 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
Two troops, five militants killed

Two troops, five militants killed

At least two security personnel and five militants were killed during an exchange of firing between the insurgents and the troops in area of Orakzai Agency on Wednesday, the army said. The Inter-Services Public Relations (ISPR) said in a statement that th
Published 23 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 Wednesday (March 22, 2017).

Published 23 Mar, 2017 12:00am
Equities retreat

Equities retreat

Pakistan Stock Exchange (PSX) Wednesday witnessed a volatile session with the KSE-100 index moving between 49,146.78 points intra-day high and 48,960.60 points intra-day low level. The index closed at 49,016.79 points, with a marginal loss of 3.42 points.
Published 23 Mar, 2017 12:00am
Equities retreat

Equities retreat

Pakistan Stock Exchange (PSX) Wednesday witnessed a volatile session with the KSE-100 index moving between 49,146.78 points intra-day high and 48,960.60 points intra-day low level. The index closed at 49,016.79 points, with a marginal loss of 3.42 points.
Published 23 Mar, 2017 12:00am
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