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Archive - 2018-04-19
SBP injects Rs155bn into market
Top News

SBP injects Rs155bn into market

KARACHI: The State Bank of Pakistan (SBP) on Thursday injected Rs.155 billion into market for one day as reverse repo pu
Published 19 Apr, 2018 04:28pm
KE gasps for gas
Power Generation

KE gasps for gas

K-Electric saw Nepra’s observations after the authority’s short press note, as a vindication of its stance. And some wou
Published 19 Apr, 2018 05:46am
FDI: change but no change
Banking

FDI: change but no change

Each passing month has been strengthening the ongoing trend of Sino-isation of Pakistan’s FDI. The latest tick – for Mar
Published 19 Apr, 2018 05:44am
On budget strategy
Miscellaneous

On budget strategy

The budget making exercise in its full swing, with two and half months remaining in the fiscal year. The thought process
Published 19 Apr, 2018 05:42am
Pharma industry submits budgetary proposals to MoF

Pharma industry submits budgetary proposals to MoF

Pharmaceutical industry has submitted its budgetary proposals to Ministry of Finance demanding reduction in import duty on machinery and packaging material utilized in the industry. In its proposals, the pharmaceutical industry has urged the government to
Published 19 Apr, 2018 12:00am
Britain accuses 'reckless Russia' of breaking chemical arms ban

Britain accuses 'reckless Russia' of breaking chemical arms ban

Britain accused Russia on Wednesday of breaking the two-decade international ban on chemical weapons, at emergency talks into last month's poisoning with a nerve agent of a former Russian spy. The accusations came as diplomats from the Organisation for th
Published 19 Apr, 2018 12:00am
Gunmen kidnap Afghan election staff, burn voter documents

Gunmen kidnap Afghan election staff, burn voter documents

Gunmen have attacked a voter registration centre in Afghanistan, kidnapping five people, including three election employees, and destroying documents, officials said Wednesday. The incident in the central province of Ghor on Tuesday underscores concerns a
Published 19 Apr, 2018 12:00am
US airlines can still fly over Russia

US airlines can still fly over Russia

US airlines are still able to fly in Russian air space, the transport ministry assured on Wednesday despite a transit agreement between Washington and Moscow expiring shortly. "The Transport Minister of the Russian Federation confirms that flights of Amer
Published 19 Apr, 2018 12:00am
China holds live-fire drills in Taiwan Strait

China holds live-fire drills in Taiwan Strait

China held live-fire drills in the Taiwan Strait on Wednesday but Taipei dismissed the exercises as "routine" after expected large-scale naval manoeuvres failed to materialise. Beijing had announced the drills last week, further ramping up tensions follow
Published 19 Apr, 2018 12:00am
One dead after Southwest jet engine failure: US official

One dead after Southwest jet engine failure: US official

A catastrophic engine failure on a Southwest Airlines flight from New York to Dallas left one person dead and prompted an emergency landing in Philadelphia on Tuesday. Southwest flight 1380, a Boeing 737, encountered a problem with the engine shortly afte
Published 19 Apr, 2018 12:00am
Sudan diplomats unpaid for months
Currency

Sudan diplomats unpaid for months

A cash shortfall has seen several Sudanese foreign diplomats go unpaid for months and they have been seeking to return home as a result, Foreign Minister Ibrahim Ghandour said Wednesday. In a speech to lawmakers, Ghandour said his ministry had also been u
Published 19 Apr, 2018 12:00am
Castro rule nears end in Cuba, Diaz-Canel poised to take over

Castro rule nears end in Cuba, Diaz-Canel poised to take over

The Castro brothers' six-decade grip on power in Cuba approached its end Wednesday as the country's National Assembly named number two Miguel Diaz-Canel as the sole candidate for the presidency. Diaz-Canel, a 57-year-old Communist Party official and the c
Published 19 Apr, 2018 12:00am
Shanghai aluminium rises
Exchange

Shanghai aluminium rises

On the Shanghai Futures Exchange, the most-traded June aluminium contract closed 0.5 percent higher at 14,930 yuan ($2,376) a tonne on Wednesday, just below a nearly three-month high reached on Tuesday. In Shanghai, copper gained 0.6 percent to end at 51,
Published 19 Apr, 2018 12:00am
Nickel soars to three-year top, other metals up
Exchange

Nickel soars to three-year top, other metals up

Nickel soared to a three-year peak on Wednesday as what analysts said were misplaced concerns that the metal would become ensnared in US sanctions on Russian companies caused it to break through key technical levels. Three-month nickel on the London Metal
Published 19 Apr, 2018 12:00am
Oil jumps three percent on Saudi price target, US stockpiles

Oil jumps three percent on Saudi price target, US stockpiles

Oil futures jumped nearly 3 percent on Wednesday on a decline in US crude inventories and after sources signalled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Opec's new price hawk Saudi Arabia would be happy for crude t
Published 19 Apr, 2018 12:00am
Rubber climbs
Exchange

Rubber climbs

Benchmark Tokyo rubber futures edged higher for a second session on Wednesday, helped by firmer Shanghai futures and lower yen against the US dollar, but concerns over the rising inventories capped gains. The Tokyo Commodity Exchange (TOCOM) rubber contra
Published 19 Apr, 2018 12:00am
Malaysian palm oil flat
Vegetable Oil

Malaysian palm oil flat

Malaysian palm oil futures closed flat on Wednesday as short covering in the second half of trade helped the market recover from losses earlier in the day. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed
Published 19 Apr, 2018 12:00am
Cocoa surges to 2016 highs, raw sugar rebounds

Cocoa surges to 2016 highs, raw sugar rebounds

Cocoa futures on ICE rallied more than 3 percent to the highest since 2016 on Wednesday, buoyed by chart-based buying and stronger-than-expected European grind data, while raw sugar rebounded from a 2-1/2-year low. July New York cocoa settled up $96, or 3
Published 19 Apr, 2018 12:00am
Gold rises in New York

Gold rises in New York

Gold turned positive on Tuesday as some investors held onto positions, while a sharper risk appetite benefited cyclical assets at bullion's expense as the US dollar's recovery from three-week lows versus the euro added pressure on the metal. Gold rallied
Published 19 Apr, 2018 12:00am
Gold slips in Asia

Gold slips in Asia

Gold prices slipped on Wednesday after rising for three straight sessions as investors opted for riskier assets, with the dollar holding its gains on the back of upbeat US economic data. "There was a general increase in risk appetite, which boosted equiti
Published 19 Apr, 2018 12:00am
Gold surges in Europe

Gold surges in Europe

Gold prices rose to a one-week high on Wednesday on technical trading and as the dollar held near three-week lows even as risk appetite lifted stocks. Spot gold was up 0.3 percent at $1,351.08 per ounce by 1356 GMT, after touching its highest since April
Published 19 Apr, 2018 12:00am
US MIDDAY: wheat futures rise

US MIDDAY: wheat futures rise

US wheat futures rose on Wednesday, with the benchmark Chicago Board of Trade soft red winter wheat contract hitting a one-week high on concerns that rains forecast for the US Plains will not meet earlier expectations. Additionally, there was concern that
Published 19 Apr, 2018 12:00am
US MIDDAY: gold advances

US MIDDAY: gold advances

Gold prices rose to a one-week high on Wednesday on technical trading and some safe-haven demand even as the dollar held on to gains and stocks rose on risk appetite. Spot gold was up 0.2 percent at $1,349.71 per ounce by 1:48 pm EDT (1748 GMT), after tou
Published 19 Apr, 2018 12:00am
New Islamabad Airport's opening put off till May 3

New Islamabad Airport's opening put off till May 3

Delays continue to hit New Islamabad International Airport, as its formal inauguration date has been extended, once again, to May 3, 2018 despite earlier confirmation from the government to inaugurate the much-delayed project on May 1. Director Planning &
Published 19 Apr, 2018 12:00am
Pakgen Power Limited
Mutual Funds

Pakgen Power Limited

Pakgen Power Limited (PSX: PKGP) was incorporated in 1995 with the registered head office based out of Lahore. The company originally started its commercial operations in February 1998. The principal activities of the power company are to own, operate and
Published 19 Apr, 2018 12:00am
Pakgen Power Limited
Mutual Funds

Pakgen Power Limited

Pakgen Power Limited (PSX: PKGP) was incorporated in 1995 with the registered head office based out of Lahore. The company originally started its commercial operations in February 1998. The principal activities of the power company are to own, operate and
Published 19 Apr, 2018 12:00am
Dr Umar Saif appointed Unesco Chair for ICTD

Dr Umar Saif appointed Unesco Chair for ICTD

World renowned Pakistani Computer Scientist, Dr Umar Saif has been appointed as the UNESCO Chair for using Information and Communication Technology for Development (ICTD). The establishment of the UNESCO Chair is an acknowledgement of Dr Umar Saif's work
Published 19 Apr, 2018 12:00am
Child abuse cases on the rise: report

Child abuse cases on the rise: report

A non-governmental organisation (NGO) working against child sexual abuse in Pakistan, Sahil, has revealed that the cases of child abuse in Pakistan are increasing with every passing day. The organisation, in its report revealed that in Pakistan 3445 child
Published 19 Apr, 2018 12:00am
Shahbaz vows to usher in era of prosperity in KPK

Shahbaz vows to usher in era of prosperity in KPK

Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif in a meeting with the PML-N KPK president, Engineer Amir Muqam, here on Wednesday expressed his resolve to usher in a revolution of development and prosperity in the KPK, if provided an opportu
Published 19 Apr, 2018 12:00am
Three MQM-L activists arrested in Lahore

Three MQM-L activists arrested in Lahore

The law-enforcement agencies on Wednesday apprehended three activists of Muttahida Qaumi Movement-London (MQM-London) during a raid conducted at a house of Sultan Moosa located in Garhi Shahu area of Lahore. According to police sources, on a tip off, the
Published 19 Apr, 2018 12:00am
LG earns top honours at 2018 Red Dot Awards

LG earns top honours at 2018 Red Dot Awards

LG Electronics received 21 honors at this year's Red Dot Design Awards, one of the world's top three design awards alongside iF Design Awards and IDEA (International Design Excellence Awards). Of the products recognized, two LG products shone the brightes
Published 19 Apr, 2018 12:00am
Energy crisis has almost come to an end: Punjab chief minister

Energy crisis has almost come to an end: Punjab chief minister

Punjab Chief Minister Shahbaz Sharif has said that economic activities have increased due to sufficient reduction in loadshedding and terrorism; similarly, sufficient improvements have been witnessed in trade and investment sectors. He expressed these vie
Published 19 Apr, 2018 12:00am
PITB's Citizen Contact Centre receives 2.3 million calls in 30 months

PITB's Citizen Contact Centre receives 2.3 million calls in 30 months

The Punjab Information Technology Board (PITB)'s project, "Citizen Contact Centre" (CCC) launched in November, 2015 has answered 2,393,832 (2.3 million) calls till date in response to inbound calls from the respective citizen for information, complaint an
Published 19 Apr, 2018 12:00am
Saarc CCI's vice presidents to meet in Pakistan on April 27
Exchange

Saarc CCI's vice presidents to meet in Pakistan on April 27

President SAARC Chamber of Commerce and Industry Ruwan Edirisinghe, after assuming the charge of his office, convened three-day meeting of senior vice presidents and all vice presidents from member countries in Pakistan on April 27 to finalize vision 2030
Published 19 Apr, 2018 12:00am
Zameen.com marks five million monthly visits

Zameen.com marks five million monthly visits

Zameen.com, Pakistan's top property portal, announced here Wednesday that it had crossed the 5 million monthly visits mark in March 2018, with 32.9 million page views across all devices and platforms. Around 30% of this traffic came from overseas Pakistan
Published 19 Apr, 2018 12:00am
'PAD striving hard to achieve cotton sowing target'
Cotton

'PAD striving hard to achieve cotton sowing target'

Secretary Agriculture Punjab Muhammad Mahmood has said that cotton growing has started throughout the province and the department is striving hard to achieve target of cotton sowing on area of 6 million acres. He was speaking at a seminar arranged by the
Published 19 Apr, 2018 12:00am
Russian aircraft provider stops doing business with NATO

Russian aircraft provider stops doing business with NATO

Russian airline Volga-Dniepr announced Wednesday it will stop providing cargo planes to NATO at the end of the year, dealing a blow to the transatlantic alliance and France in particular which rely heavily on its aircraft. "We have been gradually withdraw
Published 19 Apr, 2018 12:00am
Pharma industry submits budgetary proposals to MoF

Pharma industry submits budgetary proposals to MoF

Pharmaceutical industry has submitted its budgetary proposals to Ministry of Finance demanding reduction in import duty on machinery and packaging material utilized in the industry. In its proposals, the pharmaceutical industry has urged the government to
Published 19 Apr, 2018 12:00am
i2c appoints Joseph DeRosa as EVP

i2c appoints Joseph DeRosa as EVP

i2c, a global provider of smarter payments and integrated commerce solutions, announced that it has appointed Joseph DeRosa as executive vice president of Global Sales and Marketing. Reporting directly to i2c's Chief Executive Officer Amir Wain, DeRosa is
Published 19 Apr, 2018 12:00am
1,655 KP police officials sacrificed lives so far in war against terror

1,655 KP police officials sacrificed lives so far in war against terror

In the ongoing war against terror so far 1655 police officers and jawans of Khyber Pakhtunkhwa police sacrificed their precious lives in line of duty till 1st quarter of the year 2018. Capital City Police rendered more sacrifices and stood 1st with the ta
Published 19 Apr, 2018 12:00am
Punjab okays Rs 411 million for prevention of malaria, influenza

Punjab okays Rs 411 million for prevention of malaria, influenza

The Punjab government has approved an amount of Rs411 million for the control of deadly and infectious disease Malaria and Avian influenza. The approval was given by the government's development forum Provincial Development Working Party in its 60th meeti
Published 19 Apr, 2018 12:00am
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