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Archive - 2018-02-23
US to open Jerusalem embassy in May
Front Top News

US to open Jerusalem embassy in May

WASHINGTON: The United States will relocate its embassy in Israel to Jerusalem in May, a year before the move was ex
Published 23 Feb, 2018 07:13pm
Hub of economy
Featured Photos

Hub of economy

An aerial beautiful eye catching view of city during cloudy weather captured at horizon of Karachi on Friday, Februa
Published 23 Feb, 2018 09:03pm
Pink University
Featured Photos

Pink University

Tourists view plum flowers in Jishou University in Jishou, central China's Hunan Province, Feb. 23, 2018. Plum trees
Published 23 Feb, 2018 07:03pm
Allied Bank in CY17
Banking

Allied Bank in CY17

Allied Bank Limited (ABL) saw its bottom line tank year-on-year in CY17. That was not a surprise. Recall that earning sp
Published 23 Feb, 2018 07:50am
Hello, used cars!
Automobile

Hello, used cars!

Used cars are back in business, though that is a misnomer because they were never really out of action. Since Dec-17, sp
Published 23 Feb, 2018 07:49am
Tokyo stocks gain moderately
Financial

Tokyo stocks gain moderately

TOKYO: Tokyo stocks rose moderately on Friday with investor sentiment propped up by a rebound on Wall Street, as the mar
Published 23 Feb, 2018 06:35am
Calibri font was not available commercially until Jan 31, 2007: witness

Calibri font was not available commercially until Jan 31, 2007: witness

Robert Radley, a UK-based forensic expert and one of prosecution witnesses Thursday told the Accountability Court that it is incorrect that Calibri font was being used by people in 2005 as at that time it was only available to a limited number of IT exper
Published 23 Feb, 2018 12:00am
PHC bars FBR from sales tax collection in PATA

PHC bars FBR from sales tax collection in PATA

A bench of Peshawar High Court (PHC) has on Thursday barred the Federal Board of Revenue (FBR) from collecting sales tax in Provincially Administered Tribal Areas (PATA). In this regard, the court during a hearing of the case, issued a notice to the FBR,
Published 23 Feb, 2018 12:00am
PHC bars FBR from sales tax collection in PATA

PHC bars FBR from sales tax collection in PATA

A bench of Peshawar High Court (PHC) has on Thursday barred the Federal Board of Revenue (FBR) from collecting sales tax in Provincially Administered Tribal Areas (PATA). In this regard, the court during a hearing of the case, issued a notice to the FBR,
Published 23 Feb, 2018 12:00am
PHC bars FBR from sales tax collection in PATA

PHC bars FBR from sales tax collection in PATA

A bench of Peshawar High Court (PHC) has on Thursday barred the Federal Board of Revenue (FBR) from collecting sales tax in Provincially Administered Tribal Areas (PATA). In this regard, the court during a hearing of the case, issued a notice to the FBR,
Published 23 Feb, 2018 12:00am
PHC bars FBR from sales tax collection in PATA

PHC bars FBR from sales tax collection in PATA

A bench of Peshawar High Court (PHC) has on Thursday barred the Federal Board of Revenue (FBR) from collecting sales tax in Provincially Administered Tribal Areas (PATA). In this regard, the court during a hearing of the case, issued a notice to the FBR,
Published 23 Feb, 2018 12:00am
Senators smell a rat in SC verdict

Senators smell a rat in SC verdict

The lawmakers in Senate on Thursday expressed fear that political situation arising in the wake of Supreme Court's verdict at a time when the Senate elections are around the corner, is an indication that a possible 'technocrat setup' is in the offing. Sen
Published 23 Feb, 2018 12:00am
Senators smell a rat in SC verdict

Senators smell a rat in SC verdict

The lawmakers in Senate on Thursday expressed fear that political situation arising in the wake of Supreme Court's verdict at a time when the Senate elections are around the corner, is an indication that a possible 'technocrat setup' is in the offing. Sen
Published 23 Feb, 2018 12:00am
Board Meetings
Exchange

Board Meetings

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 23 Feb, 2018 12:00am
'Deprive me of my name as well': Nawaz

'Deprive me of my name as well': Nawaz

Terming the Supreme Court's judgment on the petitions challenging the Elections Act 2017 person-specific, deposed Prime Minister Nawaz Sharif, who was removed as head of Pakistan Muslim League-Nawaz (PML-N) in wake of the verdict, said on Thursday that th
Published 23 Feb, 2018 12:00am
'Deprive me of my name as well': Nawaz

'Deprive me of my name as well': Nawaz

Terming the Supreme Court's judgment on the petitions challenging the Elections Act 2017 person-specific, deposed Prime Minister Nawaz Sharif, who was removed as head of Pakistan Muslim League-Nawaz (PML-N) in wake of the verdict, said on Thursday that th
Published 23 Feb, 2018 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 23 Feb, 2018 12:00am
Foundation of supremacy of law laid: CJ

Foundation of supremacy of law laid: CJ

Arguing that development is connected with human rights, Chief Justice of Pakistan Mian Saqib Nisar called for legal fraternity's support to address impediments hampering social sector development. Speaking at the Islamabad High Court Bar Association on T
Published 23 Feb, 2018 12:00am
Foundation of supremacy of law laid: CJ

Foundation of supremacy of law laid: CJ

Arguing that development is connected with human rights, Chief Justice of Pakistan Mian Saqib Nisar called for legal fraternity's support to address impediments hampering social sector development. Speaking at the Islamabad High Court Bar Association on T
Published 23 Feb, 2018 12:00am
PML-N Senate nominees to contest as independents

PML-N Senate nominees to contest as independents

The Election Commission of Pakistan (ECP) on Thursday declared Pakistan Muslim League-Nawaz (PML-N) Senate nominees as independent candidates for elections scheduled to be held on March 3. The ECP took the decision in a special session in the aftermath of
Published 23 Feb, 2018 12:00am
PML-N Senate nominees to contest as independents

PML-N Senate nominees to contest as independents

The Election Commission of Pakistan (ECP) on Thursday declared Pakistan Muslim League-Nawaz (PML-N) Senate nominees as independent candidates for elections scheduled to be held on March 3. The ECP took the decision in a special session in the aftermath of
Published 23 Feb, 2018 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
Ties with Saudi Arabia, UAE regionally important: ISPR

Ties with Saudi Arabia, UAE regionally important: ISPR

Inter-Services Public Relations (ISPR) Director General Major General Asif Ghafoor said on Thursday that maintaining ties with Saudi Arabia and the United Arab Emirates (UAE) is regionally important. Talking to the media in Dubai, the spokesperson for Pak
Published 23 Feb, 2018 12:00am
Ties with Saudi Arabia, UAE regionally important: ISPR

Ties with Saudi Arabia, UAE regionally important: ISPR

Inter-Services Public Relations (ISPR) Director General Major General Asif Ghafoor said on Thursday that maintaining ties with Saudi Arabia and the United Arab Emirates (UAE) is regionally important. Talking to the media in Dubai, the spokesperson for Pak
Published 23 Feb, 2018 12:00am
Saudi Arabia to spend billions on Western-style entertainment

Saudi Arabia to spend billions on Western-style entertainment

Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would have been unthinkable not long ago. Long known for its ultra-conservative mores, the king
Published 23 Feb, 2018 12:00am
Saudi Arabia to spend billions on Western-style entertainment

Saudi Arabia to spend billions on Western-style entertainment

Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would have been unthinkable not long ago. Long known for its ultra-conservative mores, the king
Published 23 Feb, 2018 12:00am
Nepra approves Rs 34 billion refund to consumers

Nepra approves Rs 34 billion refund to consumers

National Electric Power Regulatory Authority (Nepra) on Thursday approved a refund of Rs 34 billion to the consumers of power Distribution Companies (Discos) under monthly fuel adjustment mechanism for January 2018. The decision was taken at a public hear
Published 23 Feb, 2018 12:00am
THE RUPEE: dollar rises
Currency

THE RUPEE: dollar rises

Dollar appreciated against the rupee on the money market on Thursday in the process of trading activity, currency experts said. Strong demand for dollars pushed the rates of rupee down modestly and it looks that if dollars' buying extended, the local curr
Published 23 Feb, 2018 12:00am
Nepra approves Rs 34 billion refund to consumers

Nepra approves Rs 34 billion refund to consumers

National Electric Power Regulatory Authority (Nepra) on Thursday approved a refund of Rs 34 billion to the consumers of power Distribution Companies (Discos) under monthly fuel adjustment mechanism for January 2018. The decision was taken at a public hear
Published 23 Feb, 2018 12:00am
THE RUPEE: dollar rises
Currency

THE RUPEE: dollar rises

Dollar appreciated against the rupee on the money market on Thursday in the process of trading activity, currency experts said. Strong demand for dollars pushed the rates of rupee down modestly and it looks that if dollars' buying extended, the local curr
Published 23 Feb, 2018 12:00am
Nepra approves Rs 34 billion refund to consumers

Nepra approves Rs 34 billion refund to consumers

National Electric Power Regulatory Authority (Nepra) on Thursday approved a refund of Rs 34 billion to the consumers of power Distribution Companies (Discos) under monthly fuel adjustment mechanism for January 2018. The decision was taken at a public hear
Published 23 Feb, 2018 12:00am
Indonesia's Pertamina to sign LNG deal

Indonesia's Pertamina to sign LNG deal

State-owned Indonesia energy firm Pertamina will discuss an agreement with Pakistan LNG Limited for supply of liquefied natural gas (LNG) to Pakistan for 10 years with an optional extension of five years, sources said. The Indonesian government has initia
Published 23 Feb, 2018 12:00am
Indonesia's Pertamina to sign LNG deal

Indonesia's Pertamina to sign LNG deal

State-owned Indonesia energy firm Pertamina will discuss an agreement with Pakistan LNG Limited for supply of liquefied natural gas (LNG) to Pakistan for 10 years with an optional extension of five years, sources said. The Indonesian government has initia
Published 23 Feb, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
Indonesia''s Pertamina to sign LNG deal

Indonesia''s Pertamina to sign LNG deal

State-owned Indonesia energy firm Pertamina will discuss an agreement with Pakistan LNG Limited for supply of liquefied natural gas (LNG) to Pakistan for 10 years with an optional extension of five years, sources said. The Indonesian government has initia
Published 23 Feb, 2018 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
BRIndex100 snaps losing streak
Exchange

BRIndex100 snaps losing streak

After opening in negative zone, Pakistan Stock Exchange rebounded on the back of fresh buying that supported the index to close in positive with healthy gains Thursday. BRIndex100 gained 77.31 points or 1.68 percent to close at 4,666.30 points. BRIndex100
Published 23 Feb, 2018 12:00am
Pakistan Mercantile Exchange - PMEX
Exchange

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
BRIndex100 snaps losing streak
Exchange

BRIndex100 snaps losing streak

After opening in negative zone, Pakistan Stock Exchange rebounded on the back of fresh buying that supported the index to close in positive with healthy gains Thursday. BRIndex100 gained 77.31 points or 1.68 percent to close at 4,666.30 points. BRIndex100
Published 23 Feb, 2018 12:00am
BRIndex100 snaps losing streak
Exchange

BRIndex100 snaps losing streak

After opening in negative zone, Pakistan Stock Exchange rebounded on the back of fresh buying that supported the index to close in positive with healthy gains Thursday. BRIndex100 gained 77.31 points or 1.68 percent to close at 4,666.30 points. BRIndex100
Published 23 Feb, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (February 22, 2018)

Published 23 Feb, 2018 12:00am
Shocking spike in July-December external loans
Currency

Shocking spike in July-December external loans

The government's reliance on external loans to finance the budget deficit increased by 826 percent in July-December 2017 to Rs 338.5 billion from Rs 36.5 billion during the first quarter of the current fiscal year, according to Finance Ministry. Finance D
Published 23 Feb, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
Shocking spike in July-December external loans
Currency

Shocking spike in July-December external loans

The government's reliance on external loans to finance the budget deficit increased by 826 percent in July-December 2017 to Rs 338.5 billion from Rs 36.5 billion during the first quarter of the current fiscal year, according to Finance Ministry. Finance D
Published 23 Feb, 2018 12:00am
Shocking spike in July-December external loans
Currency

Shocking spike in July-December external loans

The government''s reliance on external loans to finance the budget deficit increased by 826 percent in July-December 2017 to Rs 338.5 billion from Rs 36.5 billion during the first quarter of the current fiscal year, according to Finance Ministry. Finance
Published 23 Feb, 2018 12:00am
Foreign banks: $532.66 million commercial loans procured in January

Foreign banks: $532.66 million commercial loans procured in January

The government has procured $532.66 million commercial loans from foreign banks in January, bringing the total to $1.78 billion in the current fiscal year (July-January) 2017-18. The government had budgeted $1 billion for the entire fiscal year 2017-18, h
Published 23 Feb, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 22, 2018).

Published 23 Feb, 2018 12:00am
Foreign banks: $532.66 million commercial loans procured in January

Foreign banks: $532.66 million commercial loans procured in January

The government has procured $532.66 million commercial loans from foreign banks in January, bringing the total to $1.78 billion in the current fiscal year (July-January) 2017-18. The government had budgeted $1 billion for the entire fiscal year 2017-18, h
Published 23 Feb, 2018 12:00am
The Weather

The Weather

The weather report on Thursday (February 22, 2018) and the forecast for Friday (February 23, 2018).

Published 23 Feb, 2018 12:00am
Foreign banks: $532.66 million commercial loans procured in January

Foreign banks: $532.66 million commercial loans procured in January

The government has procured $532.66 million commercial loans from foreign banks in January, bringing the total to $1.78 billion in the current fiscal year (July-January) 2017-18. The government had budgeted $1 billion for the entire fiscal year 2017-18, h
Published 23 Feb, 2018 12:00am
German free-meals charity bars new migrant clients

German free-meals charity bars new migrant clients

A German food bank said Thursday it would temporarily stop accepting new non-German clients, citing a huge influx of migrants that was displacing locals in need. "We want the German granny to be able to keep coming to us," said Joerg Sartor, chairman of t
Published 23 Feb, 2018 12:00am
UN says South Sudan kills, beats, arrests journalists

UN says South Sudan kills, beats, arrests journalists

In at least 60 incidents over the last year and a half journalists in South Sudan were killed, beaten, detained, denied entry or fired for doing their jobs, a UN report said Thursday. State security officers were responsible for the majority of the incide
Published 23 Feb, 2018 12:00am
White House denies being soft on Russia, says more sanctions to come

White House denies being soft on Russia, says more sanctions to come

The White House is weighing additional sanctions against Russia, senior administration officials said Wednesday, pushing back against allegations that Donald Trump has been a soft touch on Moscow. Speaking on condition of anonymity, officials said a "task
Published 23 Feb, 2018 12:00am
Brokers barred from obtaining licences for futures advisers
Exchange

Brokers barred from obtaining licences for futures advisers

The Securities and Exchange Commission of Pakistan (SECP) Thursday prohibited securities brokers, duly licensed by the Commission and providing custodial services as integral part of brokerage business model, from obtaining licenses for securities adviser
Published 23 Feb, 2018 12:00am
Brokers barred from obtaining licences for futures advisers
Exchange

Brokers barred from obtaining licences for futures advisers

The Securities and Exchange Commission of Pakistan (SECP) Thursday prohibited securities brokers, duly licensed by the Commission and providing custodial services as integral part of brokerage business model, from obtaining licenses for securities adviser
Published 23 Feb, 2018 12:00am
Brokers barred from obtaining licences for futures advisers
Exchange

Brokers barred from obtaining licences for futures advisers

The Securities and Exchange Commission of Pakistan (SECP) Thursday prohibited securities brokers, duly licensed by the Commission and providing custodial services as integral part of brokerage business model, from obtaining licenses for securities adviser
Published 23 Feb, 2018 12:00am
ABL registers Rs 12.73 billion PAT
Exchange

ABL registers Rs 12.73 billion PAT

During the year under review, the Bank's primary strategic priorities were driven towards quality balance sheet growth, risk optimization, expansion in customer base, enrichment of existing and introduction of new products with focus on providing digital
Published 23 Feb, 2018 12:00am
ABL registers Rs 12.73 billion PAT
Exchange

ABL registers Rs 12.73 billion PAT

During the year under review, the Bank's primary strategic priorities were driven towards quality balance sheet growth, risk optimization, expansion in customer base, enrichment of existing and introduction of new products with focus on providing digital
Published 23 Feb, 2018 12:00am
ABL registers Rs 12.73 billion PAT
Exchange

ABL registers Rs 12.73 billion PAT

During the year under review, the Bank''s primary strategic priorities were driven towards quality balance sheet growth, risk optimization, expansion in customer base, enrichment of existing and introduction of new products with focus on providing digital
Published 23 Feb, 2018 12:00am
ABL registers Rs 12.73 billion PAT
Exchange

ABL registers Rs 12.73 billion PAT

During the year under review, the Bank''''s primary strategic priorities were driven towards quality balance sheet growth, risk optimization, expansion in customer base, enrichment of existing and introduction of new products with focus on providing digit
Published 23 Feb, 2018 12:00am
Juncker fears 'strong reaction' on markets after Italy vote

Juncker fears 'strong reaction' on markets after Italy vote

European Commission chief Jean-Claude Juncker warned Thursday that financial markets could face turbulence after Italian elections next month, saying Brussels was prepared for a worst-case scenario. Italians vote on March 4 amid uncertainty, with polls in
Published 23 Feb, 2018 12:00am
Police operation in Brussels, terrorism ruled out

Police operation in Brussels, terrorism ruled out

Belgian police sealed off several streets in suburban Brussels on Thursday after reports of armed men and a murder, but there were no indications of terrorism, officials said. Armed officers blocked traffic while a helicopter hovered over the scene of the
Published 23 Feb, 2018 12:00am
MOL Pakistan completes mega drinking water projects in KP

MOL Pakistan completes mega drinking water projects in KP

MOL Pakistan Oil & Gas Company has spent over Rs 90 million till date to ensure provision of clean drinking water to the less developed districts of KP including Karak, Hangu, Bannu and Kohat. According to a statement issued here, MOL Pakistan has funded
Published 23 Feb, 2018 12:00am
EU court says Poland broke air quality laws

EU court says Poland broke air quality laws

The EU's top court on Thursday found Poland guilty of violating air quality laws, in the latest clash between the bloc's authorities and the rightwing government in Warsaw. The European Court of Justice urged Poland to comply "without delay" or face fines
Published 23 Feb, 2018 12:00am
UNICEF number two resigns

UNICEF number two resigns

UNICEF deputy director Justin Forsyth on Thursday resigned from the UN children's agency following complaints of inappropriate behavior towards female staff in his previous post as head of British charity Save The Children. He apologized again for his pas
Published 23 Feb, 2018 12:00am
UNICEF number two resigns

UNICEF number two resigns

UNICEF deputy director Justin Forsyth on Thursday resigned from the UN children's agency following complaints of inappropriate behavior towards female staff in his previous post as head of British charity Save The Children. He apologized again for his pas
Published 23 Feb, 2018 12:00am
A word of caution
Exchange

A word of caution

The Country Director of the World Bank, Patchamuthu Illamgovan, stated that problems associated with Pakistan's economy, the current account deficit in particular, have resurfaced due to lack of a political consensus. He pointed out that Pakistan did well
Published 23 Feb, 2018 12:00am
Bangladesh a police state?

Bangladesh a police state?

Media freedom is an integral part of democracy; one cannot exist without the other. Today, media is regarded as the fourth pillar of state all over the world. As society's watchdog, it is duty bound to inform and educate the public about government polici
Published 23 Feb, 2018 12:00am
Overcoming defeatism
Currency

Overcoming defeatism

The main malady faced by our nation, especially the rulers, is defeatism. Everyone says our system is now deteriorated to the extent that it cannot be restored. People, hooked on easy money, have accepted corruption as a way of life. "We all are now incor
Published 23 Feb, 2018 12:00am
Pakistani electoral mosaic

Pakistani electoral mosaic

With general elections due somewhere after mid-2018, the expectations of the people and the stakes thereof have evolved dramatically with the political scenario changing almost on a daily basis. The Supreme Court's (SC) decision to annul the Election Act
Published 23 Feb, 2018 12:00am
India's Essar seeks loans from traders as banks fear Russian links

India's Essar seeks loans from traders as banks fear Russian links

Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia. Essar wants to borrow the money for 3-4 years and repay it with cargoe
Published 23 Feb, 2018 12:00am
'Clash of state institutions'

'Clash of state institutions'

This apropos a Business Recorder editorial "Clash of state institutions" carried by the newspaper yesterday. The newspaper concluded its argument by saying that "We are once again in a sorry state witnessing the growing clash between two of the ins
Published 23 Feb, 2018 12:00am
Motorways toll: no 20-year extension given to FWO: spokesperson

Motorways toll: no 20-year extension given to FWO: spokesperson

Frontier Works Organization (FWO) has not been awarded 20-year extension on motorways toll collection by National Highway Authority (NHA). FWO spokesperson made it clear on Thursday that reports circulating in different sections of media regarding 20 year
Published 23 Feb, 2018 12:00am
Pakistan ranks 117 in corruption perception index

Pakistan ranks 117 in corruption perception index

Pakistan's ranking in Transparency International corruption perception index (CPI) 2017 fell by one place to 117 from 116 in 2016 scoring 32 points out of 100 in the index. India ranked at 81 in 2017 losing two places in comparison to the year before when
Published 23 Feb, 2018 12:00am
Punjab government's steps for welfare of special people

Punjab government's steps for welfare of special people

In the wake of protest by the visually impaired persons in the provincial capital for fulfillment of their demands, a spokesman of Punjab government has narrated steps taken for the welfare of special persons. He said the procedure of requirement of speci
Published 23 Feb, 2018 12:00am
SC's decision against Nawaz was expected: Imran

SC's decision against Nawaz was expected: Imran

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said the Supreme Court's verdict against former prime minister Nawaz Sharif was expected as no court or parliament would allow a disqualified person to head a political party. He expressed these views
Published 23 Feb, 2018 12:00am
Forex reserves down $139.4 million
Exchange

Forex reserves down $139.4 million

The country's total liquid foreign exchange reserves fell by $139.4 million during last week owing to external debt payments. According to State Bank of Pakistan (SBP), the country's forex reserves declined to $18.829 billion as on February 16, 2018 compa
Published 23 Feb, 2018 12:00am
Ceasefire violations: Pakistan summons top Indian diplomat

Ceasefire violations: Pakistan summons top Indian diplomat

Pakistan on Thursday summoned top Indian diplomat over the unprovoked ceasefire violations by Indian forces that resulted in martyrdom of a laborer at Poonch River bank. According to a Foreign Office statement, Director General South Asia and SAARC Dr Moh
Published 23 Feb, 2018 12:00am
Monitoring 20 million Karachiites through 2,500 CCTV not possible: IGP

Monitoring 20 million Karachiites through 2,500 CCTV not possible: IGP

Inspector General of Police (Sindh) Allah Dino Khowaja on Thursday said his department was not able to keep an eye on 20 million people living in Karachi with only 2,500 close circuit television cameras (CCTV) installed in parts of this port city. "It is
Published 23 Feb, 2018 12:00am
Political stability vital to police reforms: Ahsan

Political stability vital to police reforms: Ahsan

Every single political government was either derailed or destabilized which led to non-implementation of reforms, especially in the police department, said Interior Minister Ahsan Iqbal. He was speaking a seminar titled "Disparities in police systems in p
Published 23 Feb, 2018 12:00am
Plea to issue notification for releasing stuck up cars
Exchange

Plea to issue notification for releasing stuck up cars

Following the growing losses of demurrages and detention on over 9000 new/used cars stuck at ports since October last year, the importers have strongly urged the Ministry of Commerce to issue the notification for the release as decided by the Federal Cabi
Published 23 Feb, 2018 12:00am
Senate body seeks PTDC's valuation report

Senate body seeks PTDC's valuation report

The Senate Functional Committee on Devolution has directed the Pakistan Tourism Development Corporation (PTDC) to submit a comprehensive report about valuation of its land and assets as well as ongoing cases in Islamabad High Court and National Accountabi
Published 23 Feb, 2018 12:00am
JI chief urges Nawaz to accept SC verdict

JI chief urges Nawaz to accept SC verdict

Advising Nawaz Sharif and ruling Pakistan Muslim League-Nawaz (PML-N) to accept the Supreme Court's decision in letter and spirit, Emir Jamaat-e-Islami Sirajul Haq has said that the country cannot afford any mishap or emergency situation. Talking to media
Published 23 Feb, 2018 12:00am
Speakers highlight potential of maritime sector

Speakers highlight potential of maritime sector

"Nothing is in isolation. The Indian Ocean and the power politics that it holds within its folds are perhaps not fully understood." This was stated by Lieutenant-General Nasser Khan Janjua(retd), National Security Advisor of Pakistan, during his address a
Published 23 Feb, 2018 12:00am
Continuity of duties on exports: PTEA welcomes EU body's decision
Cotton

Continuity of duties on exports: PTEA welcomes EU body's decision

Pakistan Textile Exporters Association (PTEA) has welcomed the European Parliament's International Trade Committee decision that voted to approve continuity of preferential duties on exports for the next two years under Generalized System of Preferences P
Published 23 Feb, 2018 12:00am
SC verdict negation of fundamental rights: Marriyum

SC verdict negation of fundamental rights: Marriyum

The court verdict to declare Nawaz Sharif ineligible to continue as President of PML (N) is the continuation of the Panama decision and constitutes negation of the fundamental rights. Minister of State for Information, Broadcasting, National History and L
Published 23 Feb, 2018 12:00am
NAB to hold inquiry against Riaz Pirzada, DG PSB

NAB to hold inquiry against Riaz Pirzada, DG PSB

The Chairman of National Accountability Bureau (NAB) Justice Javed Iqbal 'has ordered inquiry against Minister for Inter-provincial Coordination Mian Riaz Hussain Pirzada and Director General Sports Board (PSB) Akhtar Ganjeera to probe allegations of corr
Published 23 Feb, 2018 12:00am
Will return before elections, announces Musharraf

Will return before elections, announces Musharraf

Pervez Musharraf on Thursday announced that he will return to Pakistan before the 2018 general elections. Talking to his supporters, Musharraf said the ruling Pakistan Muslim League-Nawaz (PML-N) always opposed him, but he has never been afraid of them. "
Published 23 Feb, 2018 12:00am
Efforts under way to paralyse system: Nawaz

Efforts under way to paralyse system: Nawaz

Kulsoom Nawaz and Shahbaz Sharif have emerged as two strong candidates to replace former President Pakistan Muslim League-Nawaz (PML-N) Nawaz Sharif while the party is also considering nominating any other senior leader as acting president for an interim
Published 23 Feb, 2018 12:00am
Nawaz, Musharraf will have to face accountability: Bilawal

Nawaz, Musharraf will have to face accountability: Bilawal

Pakistan People's Party (PPP) Chairman Bilawal Bhutto has said that former prime minister Nawaz Sharif and former military ruler Pervez Musharraf will have to face accountability. "No law is person-specific," he stressed while addressing the district lead
Published 23 Feb, 2018 12:00am
Anti-judiciary speeches: LHC directs Pemra to decide applications

Anti-judiciary speeches: LHC directs Pemra to decide applications

The Lahore High Court on Thursday directed the Pakistan Electronic Media Regulatory Authority (Pemra) to hold its meeting in response to complaints received on contemptuous material being broadcast by television channels and submit a report by February 28
Published 23 Feb, 2018 12:00am
Olive production: Barani Institute, USAID sign MoU

Olive production: Barani Institute, USAID sign MoU

Barani Agriculture Training Institute, Chakwal signed a MoU with USAID Punjab Environment Enabling Project (PEEP) for establishment of Center of Excellence for Olive Research & Training (CEFORT) for development of olive valley and providing latest technol
Published 23 Feb, 2018 12:00am
Sindh hopes to get Rs 199.6 billion provincial receipts

Sindh hopes to get Rs 199.6 billion provincial receipts

The Sindh government is expecting Rs 199.627 billion total provincial receipts this year including SRB (GST on Services), Tax excluding GST as compared to the collected amount of Rs 166.033 billion during 2016-17. The first budget preparatory meeting, pre
Published 23 Feb, 2018 12:00am
Samba Bank's PAT increases to Rs 544.602 million
Exchange

Samba Bank's PAT increases to Rs 544.602 million

The profit after tax of Samba Bank has increased to Rs 738.853 million in the year ended December 31, 2017 as compared to Rs 544.602 million earned in the corresponding period in 2016. The board of directors of the bank in its meeting held here on Thursda
Published 23 Feb, 2018 12:00am
Samba Bank's PAT increases to Rs 544.602 million
Exchange

Samba Bank's PAT increases to Rs 544.602 million

The profit after tax of Samba Bank has increased to Rs 738.853 million in the year ended December 31, 2017 as compared to Rs 544.602 million earned in the corresponding period in 2016. The board of directors of the bank in its meeting held here on Thursda
Published 23 Feb, 2018 12:00am
Pakistan termed a bouquet of beautiful languages
Currency

Pakistan termed a bouquet of beautiful languages

International Mother Languages Day was celebrated by University of Sindh's Institute of English Language and Literature at Shaikh Ayaz Auditorium of Arts Faculty Building, here on Thursday.
Published 23 Feb, 2018 12:00am
All bids rejected in auction for PIBs

All bids rejected in auction for PIBs

The federal government Wednesday rejected all the bids for Pakistan Investment Bonds (PIBs). Mainly, the State Bank of Pakistan (SBP) conducts one auction every month to raise funds for the government and this was the seventh auction in a row, in which al
Published 23 Feb, 2018 12:00am
All bids rejected in auction for PIBs

All bids rejected in auction for PIBs

The federal government Wednesday rejected all the bids for Pakistan Investment Bonds (PIBs). Mainly, the State Bank of Pakistan (SBP) conducts one auction every month to raise funds for the government and this was the seventh auction in a row, in which al
Published 23 Feb, 2018 12:00am
Centre's support to Thar Coal project lauded
Exchange

Centre's support to Thar Coal project lauded

President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Ghazanfar Bilour, has said, timely completion of Thar Coal Projects will help save foreign exchange. He said huge chunk of foreign exchange is being splurged on the import of f
Published 23 Feb, 2018 12:00am
PAT of Mari Petroleum Company increases to Rs 3.202 billion
Exchange

PAT of Mari Petroleum Company increases to Rs 3.202 billion

The profit after tax of Mari Petroleum Company has increased to Rs 3.202 billion in the quarter ended December 31, 2017 as compared to Rs 1.846 billion earned in the corresponding period in 2016. The company's earning per share surged to Rs 29.05 in the p
Published 23 Feb, 2018 12:00am
PAT of Mari Petroleum Company increases to Rs 3.202 billion
Exchange

PAT of Mari Petroleum Company increases to Rs 3.202 billion

The profit after tax of Mari Petroleum Company has increased to Rs 3.202 billion in the quarter ended December 31, 2017 as compared to Rs 1.846 billion earned in the corresponding period in 2016. The company's earning per share surged to Rs 29.05 in the p
Published 23 Feb, 2018 12:00am
Seafood export witnesses 9 percent hike

Seafood export witnesses 9 percent hike

Pakistan's seafood export continues to grow to $229.479 million in July-Jan 2017-18 that is 9 percent higher as compared to corresponding period during preceding year, which fishermen linked to a better landing of catch. Increase in seafood export comes t
Published 23 Feb, 2018 12:00am
REAP's 'International Buyers' award ceremony held at Dubai

REAP's 'International Buyers' award ceremony held at Dubai

In order to encourage foreign buyers, Rice Exporters Association of Pakistan (REAP) has organized one of its kind "International Buyers' Recognition Awards ceremony in Dubai. The award ceremony was held during the international exhibition "Gulf Food 2018"
Published 23 Feb, 2018 12:00am
25 English-medium schools to be opened in March: Dahar

25 English-medium schools to be opened in March: Dahar

Provincial Minister for Education and Literacy Jam Mehtab Hussain Dahar has said that Sindh Education Department (SED) is going to inaugurate 25 English medium and comprehensive model schools in March across the province. The schools will be opened in the
Published 23 Feb, 2018 12:00am
'Gilgit-Baltistan is open market for investors'

'Gilgit-Baltistan is open market for investors'

Minister for Tourism, Gilgit-Baltistan, Fida Khan while speaking at the Lahore Chamber of Commerce and Industry on Thursday said that GB being gateway of China-Pakistan Economic Corridor (CPEC) is an open market for the investors. There is a great investm
Published 23 Feb, 2018 12:00am
Kite flying: Lahore mayor asked to decide application in seven days

Kite flying: Lahore mayor asked to decide application in seven days

The Lahore High Court on Thursday directed the Lord Mayor Lahore to decide within seven days an application of Kite Flying Association (KFA) against ban on 'Basant'. The KFA's counsel argued that it was a lawful right of the citizens to celebrate Basant.
Published 23 Feb, 2018 12:00am
Oman Air to introduce three new routes this year

Oman Air to introduce three new routes this year

Oman Air, the national carrier for the Sultanate of Oman is launching three new routes this year to Istanbul, Turkey in June, Casablanca, Morocco in July, and Moscow, Russia in October. While Istanbul and Moscow will be served by Oman Air's Boeing 737-800
Published 23 Feb, 2018 12:00am
Steps taken to generate surplus energy: minister

Steps taken to generate surplus energy: minister

Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari has said that steps have been taken to generate the surplus energy adding that those areas where the losses are less than 10 percent have not been facing any load shedding since December
Published 23 Feb, 2018 12:00am
Looking forward to PSL, Karachi final: DG ISPR

Looking forward to PSL, Karachi final: DG ISPR

Director General Inter-Services Public Relations (DG ISPR) Major General Asif Ghafoor has said that he was looking forward to the Pakistan Super League (PSL) and the final of the tournament which will be played in Karachi. In a tweet message on Thursday,
Published 23 Feb, 2018 12:00am
Rawal Dam: SC seeks report from CDA

Rawal Dam: SC seeks report from CDA

Supreme Court on Thursday sought a detailed report from Capital Development Authority (CDA) pertaining to encroachment and allotment of land on lease in the surroundings of Rawal Dam. Appearing before a three-member bench led by Chief Justice Mian Saqib N
Published 23 Feb, 2018 12:00am
Mangla reservoir touches dead level

Mangla reservoir touches dead level

The Indus River System Authority (Irsa) has stopped water releases from Mangla after the reservoir's level touched dead level. On Thursday, Resident Engineer Mangla, in a letter to Chief Engineer (Hydel Operation) intimated that Mangla reservoir has appro
Published 23 Feb, 2018 12:00am
Rs 101 billion proposed for 25 uplift projects under PSDP

Rs 101 billion proposed for 25 uplift projects under PSDP

Ministry of Water Resources has proposed Rs 101 billion for 25 development projects under Public Sector Development Programme (PSDP) for the forthcoming Budget-2018-19. According to documents available with Business Recorder, the Ministry has proposed Rs
Published 23 Feb, 2018 12:00am
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