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Archive - 2018-01-29
The Year of Cars!
Automobile

The Year of Cars!

After nearly decades of stalling and tip-toeing around the subject, the government has finally bid farewell to used
Updated 31 Jan, 2018 07:54am
PSX, COPHC sign MoU
Pakistan Top News

PSX, COPHC sign MoU

GWADAR: Prime Minister Shahid Khaqan Abbasi along with other high rank Chinese and Pakistani government officials on
Published 29 Jan, 2018 09:32pm
Bullion Prices on Monday
Markets

Bullion Prices on Monday

KARACHI: Following were the Bullion Prices in Karachi, Hyderabad, Multan and Lahore on Monday. KARACHI: (per 10 g
Published 29 Jan, 2018 07:22pm
PM visits KSEW stall at Gwadar Expo
Pakistan Top News

PM visits KSEW stall at Gwadar Expo

GWADAR: Prime Minister Shahid Khaqan Abbasi on Monday visited a stall of Karachi Shipyard and Engineering Works (KSE
Published 29 Jan, 2018 07:24pm
India has 21 million 'unwanted' girls
World Top News

India has 21 million 'unwanted' girls

NEW DELHI: The desire of Indian parents for sons has created an estimated 21 million "unwanted" girls because couples ke
Published 29 Jan, 2018 02:21pm
New corporate code
Miscellaneous

New corporate code

January 2018 has brought about a host changes in how corporations are governed in Pakistan, courtesy the SECP’s newest C
Published 29 Jan, 2018 07:05am
Fertilizer off-take steadies
Fertilizer

Fertilizer off-take steadies

The fertilizer story in 2017 was a tale of two halves. The first half saw urea off-take grow by a massive 48 percent yea
Published 29 Jan, 2018 07:03am
ANALYSIS: A surprise SBP interest-rate hike
Exchange

ANALYSIS: A surprise SBP interest-rate hike

In the last monetary policy meeting, there was a unanimous decision of keeping the policy rate unchanged. One may wonder what has significantly changed in the last two months for at least 5 out of 9 members to opt for a rate hike. The official line is nar
Published 29 Jan, 2018 12:00am
ANALYSIS: A surprise SBP interest-rate hike
Exchange

ANALYSIS: A surprise SBP interest-rate hike

In the last monetary policy meeting, there was a unanimous decision of keeping the policy rate unchanged. One may wonder what has significantly changed in the last two months for at least 5 out of 9 members to opt for a rate hike. The official line is nar
Published 29 Jan, 2018 12:00am
ANALYSIS: A surprise SBP interest-rate hike
Exchange

ANALYSIS: A surprise SBP interest-rate hike

In the last monetary policy meeting, there was a unanimous decision of keeping the policy rate unchanged. One may wonder what has significantly changed in the last two months for at least 5 out of 9 members to opt for a rate hike. The official line is nar
Published 29 Jan, 2018 12:00am
ANALYSIS: A surprise SBP interest-rate hike
Exchange

ANALYSIS: A surprise SBP interest-rate hike

In the last monetary policy meeting, there was a unanimous decision of keeping the policy rate unchanged. One may wonder what has significantly changed in the last two months for at least 5 out of 9 members to opt for a rate hike. The official line is nar
Published 29 Jan, 2018 12:00am
THE RUPEE: mixed trend
Currency

THE RUPEE: mixed trend

The rupee did not fluctuate sharply versus the dollar, it however, fell sharply in terms of the euro during the week, ended on January 27, 2018. The rupee was down by 20 paisas in terms of the dollar for buying and selling at Rs 112.30 and Rs 112.60. The
Published 29 Jan, 2018 12:00am
THE RUPEE: mixed trend
Currency

THE RUPEE: mixed trend

The rupee did not fluctuate sharply versus the dollar, it however, fell sharply in terms of the euro during the week, ended on January 27, 2018. The rupee was down by 20 paisas in terms of the dollar for buying and selling at Rs 112.30 and Rs 112.60. The
Published 29 Jan, 2018 12:00am
IMF invites Arab nations to tackle public 'frustration'
Exchange

IMF invites Arab nations to tackle public 'frustration'

The International Monetary Fund is holding a two-day regional conference from Monday in Morocco with a message of reform amid growing "frustration" among the population of some Arab states. "Rising social tensions and protests in several countries across
Published 29 Jan, 2018 12:00am
IMF invites Arab nations to tackle public 'frustration'
Exchange

IMF invites Arab nations to tackle public 'frustration'

The International Monetary Fund is holding a two-day regional conference from Monday in Morocco with a message of reform amid growing "frustration" among the population of some Arab states. "Rising social tensions and protests in several countries across
Published 29 Jan, 2018 12:00am
IMF invites Arab nations to tackle public ''frustration''
Exchange

IMF invites Arab nations to tackle public ''frustration''

The International Monetary Fund is holding a two-day regional conference from Monday in Morocco with a message of reform amid growing "frustration" among the population of some Arab states. "Rising social tensions and protests in several countries across
Published 29 Jan, 2018 12:00am
Administrative control of PCCC likely to rest with food ministry
Cotton

Administrative control of PCCC likely to rest with food ministry

Deputy Chairman Planning Comm-ission Sartaj Aziz-led committee has agreed in principle to transfer the administrative control of Pakistan Central Cotton Committee (PCCC) back to Ministry of National Food Security and Research (MNFS&R) to strengthen public
Published 29 Jan, 2018 12:00am
Administrative control of PCCC likely to rest with food ministry
Cotton

Administrative control of PCCC likely to rest with food ministry

Deputy Chairman Planning Comm-ission Sartaj Aziz-led committee has agreed in principle to transfer the administrative control of Pakistan Central Cotton Committee (PCCC) back to Ministry of National Food Security and Research (MNFS&R) to strengthen public
Published 29 Jan, 2018 12:00am
Administrative control of PCCC likely to rest with food ministry
Cotton

Administrative control of PCCC likely to rest with food ministry

Deputy Chairman Planning Comm-ission Sartaj Aziz-led committee has agreed in principle to transfer the administrative control of Pakistan Central Cotton Committee (PCCC) back to Ministry of National Food Security and Research (MNFS&R) to strengthen public
Published 29 Jan, 2018 12:00am
Trump willing to sign a revamped Paris climate deal

Trump willing to sign a revamped Paris climate deal

President Donald Trump would be willing to sign the US back up to the Paris climate accord, but only if the treaty undergoes major change, he said in comments published Sunday. Trump was met with global condemnation when he announced in June 2017 that the
Published 29 Jan, 2018 12:00am
Trump willing to sign a revamped Paris climate deal

Trump willing to sign a revamped Paris climate deal

President Donald Trump would be willing to sign the US back up to the Paris climate accord, but only if the treaty undergoes major change, he said in comments published Sunday. Trump was met with global condemnation when he announced in June 2017 that the
Published 29 Jan, 2018 12:00am
Isolated Qatar signs agreements with Oman

Isolated Qatar signs agreements with Oman

Qatar signed a memorandum of understanding with Oman on the development of bilateral investment and trade Sunday, nearly eight months into a crisis between the emirate and its Arab neighbours. The Omani news agency ONA said the agreement signed in Muscat
Published 29 Jan, 2018 12:00am
Isolated Qatar signs agreements with Oman

Isolated Qatar signs agreements with Oman

Qatar signed a memorandum of understanding with Oman on the development of bilateral investment and trade Sunday, nearly eight months into a crisis between the emirate and its Arab neighbours. The Omani news agency ONA said the agreement signed in Muscat
Published 29 Jan, 2018 12:00am
Isolated Qatar signs agreements with Oman

Isolated Qatar signs agreements with Oman

Qatar signed a memorandum of understanding with Oman on the development of bilateral investment and trade Sunday, nearly eight months into a crisis between the emirate and its Arab neighbours. The Omani news agency ONA said the agreement signed in Muscat
Published 29 Jan, 2018 12:00am
Swedish IKEA founder Kamprad dies at 91

Swedish IKEA founder Kamprad dies at 91

Billionaire IKEA founder Ingvar Kamprad, who turned a business he launched as a teenager into one of the world's best known furniture brands, has died at the age of 91, the Swedish company said on Sunday. IKEA's simple but sturdy designs and self-assembly
Published 29 Jan, 2018 12:00am
Swedish IKEA founder Kamprad dies at 91

Swedish IKEA founder Kamprad dies at 91

Billionaire IKEA founder Ingvar Kamprad, who turned a business he launched as a teenager into one of the world's best known furniture brands, has died at the age of 91, the Swedish company said on Sunday. IKEA's simple but sturdy designs and self-assembly
Published 29 Jan, 2018 12:00am
Bullish sentiments persist
Exchange

Bullish sentiments persist

Sentiments remained positive at the Pakistan Stock Exchange (PSX) during the outgoing week ended January 26, 2018. BRIndex100 gained 40.2 points on week-on-week basis to close at 4,795.37 points at the end of the last week compared to 4,755.17 points a we
Published 29 Jan, 2018 12:00am
Bullish sentiments persist
Exchange

Bullish sentiments persist

Sentiments remained positive at the Pakistan Stock Exchange (PSX) during the outgoing week ended January 26, 2018. BRIndex100 gained 40.2 points on week-on-week basis to close at 4,795.37 points at the end of the last week compared to 4,755.17 points a we
Published 29 Jan, 2018 12:00am
Bullish sentiments persist
Exchange

Bullish sentiments persist

Sentiments remained positive at the Pakistan Stock Exchange (PSX) during the outgoing week ended January 26, 2018. BRIndex100 gained 40.2 points on week-on-week basis to close at 4,795.37 points at the end of the last week compared to 4,755.17 points a we
Published 29 Jan, 2018 12:00am
Future spread down by 588 basis points

Future spread down by 588 basis points

The future spread mounted up by 588bps to 2.94 percent at the end of the last week. Trading activities on the futures counter were higher than those of previous week as average daily volumes increased by 227 percent to 138 million shares. The average dail
Published 29 Jan, 2018 12:00am
Future spread down by 588 basis points

Future spread down by 588 basis points

The future spread mounted up by 588bps to 2.94 percent at the end of the last week. Trading activities on the futures counter were higher than those of previous week as average daily volumes increased by 227 percent to 138 million shares. The average dail
Published 29 Jan, 2018 12:00am
PM for continuity in development policies

PM for continuity in development policies

Prime Minister Shahid Khaqan Abbasi Sunday said the continuity in the development policies of the PML-N government would be ensured as these were aimed at the collective benefits of all countrymen. He said changes in the governments should have no bearing
Published 29 Jan, 2018 12:00am
PM for continuity in development policies

PM for continuity in development policies

Prime Minister Shahid Khaqan Abbasi Sunday said the continuity in the development policies of the PML-N government would be ensured as these were aimed at the collective benefits of all countrymen. He said changes in the governments should have no bearing
Published 29 Jan, 2018 12:00am
PM for continuity in development policies

PM for continuity in development policies

Prime Minister Shahid Khaqan Abbasi Sunday said the continuity in the development policies of the PML-N government would be ensured as these were aimed at the collective benefits of all countrymen. He said changes in the governments should have no bearing
Published 29 Jan, 2018 12:00am
First Gwadar Expo opens today

First Gwadar Expo opens today

All is set to inaugurate the first Gwadar Expo in Gwadar on Monday. Prime Minister Shahid Khaqan Abbasi will inaugurate the two-day event being attended by foreign dignitaries, ambassadors and people from business community across the world. The expo aims
Published 29 Jan, 2018 12:00am
First Gwadar Expo opens today

First Gwadar Expo opens today

All is set to inaugurate the first Gwadar Expo in Gwadar on Monday. Prime Minister Shahid Khaqan Abbasi will inaugurate the two-day event being attended by foreign dignitaries, ambassadors and people from business community across the world. The expo aims
Published 29 Jan, 2018 12:00am
First Gwadar Expo opens today

First Gwadar Expo opens today

All is set to inaugurate the first Gwadar Expo in Gwadar on Monday. Prime Minister Shahid Khaqan Abbasi will inaugurate the two-day event being attended by foreign dignitaries, ambassadors and people from business community across the world. The expo aims
Published 29 Jan, 2018 12:00am
Law & order government's high priority agenda: PM

Law & order government's high priority agenda: PM

Prime Minister Shahid Khaqan Abbasi on Sunday said the law and order was high priority agenda for the government because without peace and stability, economic potential of the country could not be harnessed. The prime minister said this chairing a meeting
Published 29 Jan, 2018 12:00am
Pakistani peacekeeper killed in DR Congo

Pakistani peacekeeper killed in DR Congo

A Pakistani UN peacekeeper was killed by "members of an armed group" in the Democratic Republic of Congo on Saturday, a United Nations spokesman said. UN Secretary General Antonio Guterres "condemns the killing of a peacekeeper from Pakistan... following
Published 29 Jan, 2018 12:00am
Pakistani peacekeeper killed in DR Congo

Pakistani peacekeeper killed in DR Congo

A Pakistani UN peacekeeper was killed by "members of an armed group" in the Democratic Republic of Congo on Saturday, a United Nations spokesman said. UN Secretary General Antonio Guterres "condemns the killing of a peacekeeper from Pakistan... following
Published 29 Jan, 2018 12:00am
French climber saved on Nanga Parbat

French climber saved on Nanga Parbat

An elite group of climbers saved a French mountaineer in a daring night-time rescue on a Pakistan peak nicknamed "killer mountain", but officials Sunday called off the search for a second missing climber. The team of Polish climbers with support from the
Published 29 Jan, 2018 12:00am
French climber saved on Nanga Parbat

French climber saved on Nanga Parbat

An elite group of climbers saved a French mountaineer in a daring night-time rescue on a Pakistan peak nicknamed "killer mountain", but officials Sunday called off the search for a second missing climber. The team of Polish climbers with support from the
Published 29 Jan, 2018 12:00am
Peaceful, prosperous Afghanistan in best interest of Pakistan: ANP chief

Peaceful, prosperous Afghanistan in best interest of Pakistan: ANP chief

Awami National Party (ANP) Central president Asfandyar Wali Khan on Sunday condemned the fresh waves of the terrorism in neighbouring Afghanistan, saying that peaceful and prosperous Afghanistan was best interest of Pakistan as well as the entire region.
Published 29 Jan, 2018 12:00am
Peaceful, prosperous Afghanistan in best interest of Pakistan: ANP chief

Peaceful, prosperous Afghanistan in best interest of Pakistan: ANP chief

Awami National Party (ANP) Central president Asfandyar Wali Khan on Sunday condemned the fresh waves of the terrorism in neighbouring Afghanistan, saying that peaceful and prosperous Afghanistan was best interest of Pakistan as well as the entire region.
Published 29 Jan, 2018 12:00am
Russian police detain opposition leader Navalny at protest

Russian police detain opposition leader Navalny at protest

Russian police wrestled opposition leader Alexei Navalny into a patrol wagon on Sunday, moments after he appeared at a rally to urge voters to boycott what he said would be a rigged presidential election in March. Navalny has little chance of influencing
Published 29 Jan, 2018 12:00am
Russian police detain opposition leader Navalny at protest

Russian police detain opposition leader Navalny at protest

Russian police wrestled opposition leader Alexei Navalny into a patrol wagon on Sunday, moments after he appeared at a rally to urge voters to boycott what he said would be a rigged presidential election in March. Navalny has little chance of influencing
Published 29 Jan, 2018 12:00am
Yemen government warns of coup

Yemen government warns of coup

Yemen's government accused southern separatists of an attempted coup on Sunday after they took over its headquarters amid fierce clashes in the city of Aden. The fighting, which killed at least 15 people, threw war-torn Yemen into further chaos and threat
Published 29 Jan, 2018 12:00am
Yemen government warns of coup

Yemen government warns of coup

Yemen's government accused southern separatists of an attempted coup on Sunday after they took over its headquarters amid fierce clashes in the city of Aden. The fighting, which killed at least 15 people, threw war-torn Yemen into further chaos and threat
Published 29 Jan, 2018 12:00am
Zainab case: new JIT formed to investigate anchorperson's claims

Zainab case: new JIT formed to investigate anchorperson's claims

The Supreme Court has constituted a new joint investigation team (JIT) to probe the claims made by television anchor Dr Shahid Masood as he failed to provide credible evidence to substantiate his claims/allegations about the suspect of Zainab Amin's rape
Published 29 Jan, 2018 12:00am
Zainab case: new JIT formed to investigate anchorperson's claims

Zainab case: new JIT formed to investigate anchorperson's claims

The Supreme Court has constituted a new joint investigation team (JIT) to probe the claims made by television anchor Dr Shahid Masood as he failed to provide credible evidence to substantiate his claims/allegations about the suspect of Zainab Amin's rape
Published 29 Jan, 2018 12:00am
Tightening of monetary policy
Exchange

Tightening of monetary policy

The Monetary Policy Committee (MPC) of the State Bank has finally taken the decision to raise the policy rate by 25 bps to 6 percent for the next two months and the reasons given for the change in stance are quite convincing. The view in the MPC was that
Published 29 Jan, 2018 12:00am
Trump at Davos

Trump at Davos

Perhaps sensing the sense of dread that permeated delegates at the World Economic Forum in Davos, Switzerland, US President Donald Trump surprised his critics by reaching out with a sales pitch for the US economy. He clarified that his slogan 'America fir
Published 29 Jan, 2018 12:00am
Tax amnesty for foreign asset holders
Exchange

Tax amnesty for foreign asset holders

Prime Minister Shahid Khaqan Abbasi while addressing the Pakistan Economic Forum (PEF) organized by the Pakistan Business Council (PBC) a week ago indicated that a tax amnesty scheme, this time focused on those Pakistanis with assets abroad, is in the wor
Published 29 Jan, 2018 12:00am
In search of peace

In search of peace

Everything is fair in war and hate. That seems to be the new memorandum of misunderstanding as far as regional politics in South Asia, in particular relationship between Pak/Afghan/India, are concerned. Afghanistan has been in a state of war for over sixt
Published 29 Jan, 2018 12:00am
Angola faces currency test in economy shake-up
Exchange

Angola faces currency test in economy shake-up

Angolan President Joao Lourenco was elected five months ago promising an "economic miracle". But the path to transforming the oil-dependent country's economy will be long and difficult - as was highlighted by anger over the de facto de-valuation of the lo
Published 29 Jan, 2018 12:00am
'Trade wars in the offing'
Exchange

'Trade wars in the offing'

This is apropos a Business Recorder editorial "Trade wars in the offing" carried by the newspaper on Saturday. It argued, inter alia, that a weaker currency is generally weaker currency is regarded as an advantage for a country insofar as the prosp
Published 29 Jan, 2018 12:00am
Gwadar to become region's major commercial hub: Zhang

Gwadar to become region's major commercial hub: Zhang

Chairman China Overseas Port Holding Company (COPHC) Zhang Baozhong on Sunday said with construction of Free Zone, the port city of Gwadar would become a big commercial hub in the region. In a media interview, the Chairman COPHC said development of Gwadar
Published 29 Jan, 2018 12:00am
ATC reserves verdict in Mashal Khan lynching case

ATC reserves verdict in Mashal Khan lynching case

An anti-terrorism court here has reserved its verdict in the Mashal Khan lynching case after prosecution and defence concluded their arguments in the case. ATC Judge Fazal-i-Subhan Khan set February 7 for the pronouncement of the verdict. Nearly 50 prosec
Published 29 Jan, 2018 12:00am
Contractual system: Rabbani for early compliance of SC's decision

Contractual system: Rabbani for early compliance of SC's decision

Chairman, Senate of Pakistan, Mian Raza Rabbani here on Sunday called for urgent compliance to landmark decision of the Supreme Court (SC) against the third party contract system in public sector organizations. Addressing, as the chief guest, a seminar he
Published 29 Jan, 2018 12:00am
Obhartay Sitaray inter-schools singing contest held

Obhartay Sitaray inter-schools singing contest held

The Citizens Foundation (TCF) on Saturday organized the finale of 'Obhartay Sitaray' 2018, at a local hotel where contestants were schoolgoing children brimming with the passion for music and singing. The event organisers said that 'Obhartay Sitaray' is a
Published 29 Jan, 2018 12:00am
Imran calls for giving powers to Karachi mayor

Imran calls for giving powers to Karachi mayor

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan has said that Karachi's mayor should be given powers. He made the remark while addressing a function on Sunday. The Tehreek-e-Insaf chief stated that Karachi's mayor should be elected via direct action. K
Published 29 Jan, 2018 12:00am
Cop shot dead in Quetta

Cop shot dead in Quetta

Unidentified armed men gunned down a policeman in the provincial capital on Sunday and fled the scene. Police said that unknown miscreants sprayed bullets at cop Ahmed Khan while he was returning home after performing duty in Hazarganji area of Quetta. As
Published 29 Jan, 2018 12:00am
Work on Gwadar's water, electricity projects in full swing

Work on Gwadar's water, electricity projects in full swing

To meet the ongoing acute water shortage and electricity demands of Gwadar, the progress on several projects by Pakistan government and China is in full swing. The government has launched five schemes to ensure the availability of clean water in Gwadar an
Published 29 Jan, 2018 12:00am
Imran visits Intezar's family to offer condolences

Imran visits Intezar's family to offer condolences

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Sunday visited the bereaved family of Intezar Ahmad who was allegedly shot dead by personnel of Anti-Car Lifting Cell of the Sindh Police in Defence Housing Authority's Khayaban-e-Ittehad vicinity on J
Published 29 Jan, 2018 12:00am
Prime Minister meets Sindh governor

Prime Minister meets Sindh governor

Prime Minister Shahid Khaqan Abbasi meets Governor Sindh Mohammed Zubair at Governor House Karachi Sunday. Minister for Interior Ahsan Iqbal, Minister of State for Information Ms. Marriyum Aurangzeb, MoS for Petroleum Jam Kamal Khan and SAPM Dr Musadik Ma
Published 29 Jan, 2018 12:00am
Ban on three mineral water brands lifted

Ban on three mineral water brands lifted

The Supreme Court (SC) on Sunday removed a ban on production and sale of three mineral water brands including Kinley, Springley and Aquafina. The bench, headed by Chief Justice Mian Saqib Nisar, passed the orders while hearing a suo motu notice regarding
Published 29 Jan, 2018 12:00am
Naqeebullah's killing: houses of policemen raided

Naqeebullah's killing: houses of policemen raided

Police on Sunday conducted raids to arrest police officials wanted for their alleged involvement in the extra judicial killing of Naqeebullah Mehsood. The police officials were reportedly part of former SSP Malir Rao Anwar's team which conducted the encou
Published 29 Jan, 2018 12:00am
Pak-Iran cooperation for facilitating pilgrims urged

Pak-Iran cooperation for facilitating pilgrims urged

Pakistan's Minister for Religious Affairs and Inter-faith Harmony, Sardar Muhammad Yousaf has underlined the need for more cooperation between Iran and Pakistan to facilitate pilgrims travel. In an interview with IRNA, Sardar Yousaf said that Iran and Pak
Published 29 Jan, 2018 12:00am
Tax holiday for CPEC projects to help industrial zones

Tax holiday for CPEC projects to help industrial zones

Minister of State for Finance Rana Muhammad Afzal has said that tax holiday, granted to businessmen and companies under China Pakistan Economic Corridor projects, would eventually help establish industrial zones across the country. The businessmen and com
Published 29 Jan, 2018 12:00am
Punjab's investment scenario rapidly improving: LCCI chief
Exchange

Punjab's investment scenario rapidly improving: LCCI chief

Investment scenario in Punjab province is improving fast as large number of foreign investors has recently signed agreements with provincial government for invvesting in many new ventures Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahi
Published 29 Jan, 2018 12:00am
PTI Landi Kotal's office-bearers

PTI Landi Kotal's office-bearers

Pakistan Tehreek-e-Insaf (PTI) Landi Kotal chapter elected its new cabinet for the year of 2018. According to a notification issued by Iqbal Afridi, President of PTI, Khyber Agency, Haji Zarbullah Shinwari was elected as President while Muhammad Hakim Afr
Published 29 Jan, 2018 12:00am
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