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Archive - 2018-05-03
Turkish Chief of General Staff calls on PM
Pakistan Top News

Turkish Chief of General Staff calls on PM

ISLAMABAD: Chief of the General Staff of the Republic of Turkey, General Hulusi Akar called on Prime Minister Shahid
Published 03 May, 2018 10:35pm
UN chief calls for calm in Central Africa
Front Top News

UN chief calls for calm in Central Africa

UNITED NATIONS: UN Secretary General Antonio Guterres on Thursday called for calm in Central African Republic, where at
Published 03 May, 2018 03:42pm
President lauds services of NCHR
Pakistan Top News

President lauds services of NCHR

ISLAMABAD: President Mamnoon Hussain, lauding the services of National Commission for Human Rights (NCHR) on Thursday, s
Published 03 May, 2018 03:33pm
Pak Forex figures $17.713bn
Top News

Pak Forex figures $17.713bn

KARACHI: A total liquid foreign reserves of the country stands at dollars 17,713 billion, said State Bank of Pakistan (S
Published 03 May, 2018 03:30pm
SBP injects Rs236bn into market
Top News

SBP injects Rs236bn into market

KARACHI: The State Bank of Pakistan (SBP) on Thursday injected Rs. 236 billion into money market for one day as a revers
Published 03 May, 2018 03:27pm
Iran will not renegotiate nuclear deal
Front Top News

Iran will not renegotiate nuclear deal

ANKARA: Iran will not renegotiate a 2015 nuclear deal with major powers, Iran's foreign minister said on Thursday, as a
Published 03 May, 2018 02:15pm
Stock markets, dollar drop
Financial

Stock markets, dollar drop

LONDON: European and Asian stock markets dropped Thursday following a sell-off in New York, while the dollar sagged as i
Published 03 May, 2018 12:46pm
Froome would not lose Giro win 
Sports

Froome would not lose Giro win 

JERUSALEM: Chris Froome will not be stripped of victory should he triumph at the Giro d'Italia this month, race organise
Updated 03 May, 2018 12:45pm
Hong Kong stocks sink at open
Financial

Hong Kong stocks sink at open

HONG KONG: Hong Kong stocks fell more than one percent in the first few minutes of trade Thursday following losses on Wa
Published 03 May, 2018 08:52am
OGDC stable in 9MFY18
Oil and Gas

OGDC stable in 9MFY18

Stable might sound boring, but there wasn’t much excitement in Oil and Gas Development Company’s (PSX: OGDCL) financial
Published 03 May, 2018 07:29am
EU unveils budget penalising ''rule-of-law'' violators

EU unveils budget penalising ''rule-of-law'' violators

The EU unveiled plans Wednesday for a bigger 1.279-trillion euro budget for the seven years after Brexit featuring a controversial move to cut funding for countries that fail to respect democratic standards. European Commission chief Jean-Claude Juncker s
Published 03 May, 2018 12:00am
Banks' profits down 18 percent to Rs 39 billion in first quarter of CY18

Banks' profits down 18 percent to Rs 39 billion in first quarter of CY18

Pakistan banking sector profits were down 18 percent to Rs 39 billion mainly on account of one-time pension cost and lower capital gains recorded during the first quarter (Jan-March) of CY18. According to an analysis on banking sector profit by Topline Se
Published 03 May, 2018 12:00am
Banks' profits down 18 percent to Rs 39 billion in first quarter of CY18

Banks' profits down 18 percent to Rs 39 billion in first quarter of CY18

Pakistan banking sector profits were down 18 percent to Rs 39 billion mainly on account of one-time pension cost and lower capital gains recorded during the first quarter (Jan-March) of CY18. According to an analysis on banking sector profit by Topline Se
Published 03 May, 2018 12:00am
Haroon dares Opposition on economic performance
Exchange

Haroon dares Opposition on economic performance

Special Assistant to Prime Minister on Revenue/Federal Minister Senator Haroon Akhtar Khan has hit out at the Opposition for glossing over five-year achievements of the government and painting a bleak picture of the economy requiring imposition of an "eco
Published 03 May, 2018 12:00am
Haroon dares Opposition on economic performance
Exchange

Haroon dares Opposition on economic performance

Special Assistant to Prime Minister on Revenue/Federal Minister Senator Haroon Akhtar Khan has hit out at the Opposition for glossing over five-year achievements of the government and painting a bleak picture of the economy requiring imposition of an "eco
Published 03 May, 2018 12:00am
Haroon dares Opposition on economic performance
Exchange

Haroon dares Opposition on economic performance

Special Assistant to Prime Minister on Revenue/Federal Minister Senator Haroon Akhtar Khan has hit out at the Opposition for glossing over five-year achievements of the government and painting a bleak picture of the economy requiring imposition of an "eco
Published 03 May, 2018 12:00am
Challenging political environment can slow reform process: IMF
Exchange

Challenging political environment can slow reform process: IMF

International Monetary Fund (IMF) has said that upcoming elections in Pakistan and a challenging political environment can slow the structural reform process. The IMF report 'Regional Economic Outlook, Middle East, North Africa, Afghanistan, and Pakistan'
Published 03 May, 2018 12:00am
Challenging political environment can slow reform process: IMF
Exchange

Challenging political environment can slow reform process: IMF

International Monetary Fund (IMF) has said that upcoming elections in Pakistan and a challenging political environment can slow the structural reform process. The IMF report 'Regional Economic Outlook, Middle East, North Africa, Afghanistan, and Pakistan'
Published 03 May, 2018 12:00am
Challenging political environment can slow reform process: IMF
Exchange

Challenging political environment can slow reform process: IMF

International Monetary Fund (IMF) has said that upcoming elections in Pakistan and a challenging political environment can slow the structural reform process. The IMF report ''Regional Economic Outlook, Middle East, North Africa, Afghanistan, and Pakistan
Published 03 May, 2018 12:00am
Killing of Hazara community: CJP takes suo motu notice

Killing of Hazara community: CJP takes suo motu notice

Chief Justice of Pakistan Mian Saqib Nisar on Wednesday took suo motu notice of targeted killing of Hazara community members of Balochistan who have been targeted by hardliner militant groups for the last over one decade.
Published 03 May, 2018 12:00am
Killing of Hazara community: CJP takes suo motu notice

Killing of Hazara community: CJP takes suo motu notice

Chief Justice of Pakistan Mian Saqib Nisar on Wednesday took suo motu notice of targeted killing of Hazara community members of Balochistan who have been targeted by hardliner militant groups for the last over one decade.
Published 03 May, 2018 12:00am
Chhota Rajan sentenced to life in prison for journalist murder

Chhota Rajan sentenced to life in prison for journalist murder

An Indian court on Wednesday sentenced notorious gangster Chhota Rajan and eight others to life in prison for murdering a journalist in a drive-by shooting in Mumbai seven years ago. Jyotirmoy Dey, a crime reporter who specialised on gangland activities f
Published 03 May, 2018 12:00am
Chhota Rajan sentenced to life in prison for journalist murder

Chhota Rajan sentenced to life in prison for journalist murder

An Indian court on Wednesday sentenced notorious gangster Chhota Rajan and eight others to life in prison for murdering a journalist in a drive-by shooting in Mumbai seven years ago. Jyotirmoy Dey, a crime reporter who specialised on gangland activities f
Published 03 May, 2018 12:00am
The likelihood of another IMF programme

The likelihood of another IMF programme

Federal Finance Minister Miftah Ismail while addressing a seminar organised by the Southern Regional Committee of the Institute of Chartered Accountants Pakistan stated that in the event that the government is unable to curtail the trade deficit the count
Published 03 May, 2018 12:00am
Mainstreaming FATA

Mainstreaming FATA

Will the people of the Federally Administered Tribal Areas (FATA) be satisfied with the assurances extended by Prime Minister (PM) Shahid Khaqan Abbasi on his visit to North Waziristan Agency (NWA)? Let us first see what those assurances were and what the
Published 03 May, 2018 12:00am
Budget 2019: 'Chanson Douce'

Budget 2019: 'Chanson Douce'

The second novel of the French writer, Leila Slimani, bagged the coveted Prix Goncourt in 2016. It has sold 600,000 copies in France and has been translated into about 40 languages. It is called Chanson Douce, literally meaning 'sweet song'. Its English t
Published 03 May, 2018 12:00am
The Hazara people's unremitting suffering

The Hazara people's unremitting suffering

Under attack, once again, the beleaguered Shia Hazara community of Quetta has desperately been trying to draw attention to its plight. Following three incidents in April - the latest one on last Saturday - that claimed five lives the Hazara Democratic Par
Published 03 May, 2018 12:00am
Sovereign funds flock to developing world startups

Sovereign funds flock to developing world startups

Sovereign investors are helping fuel billion-dollar funding rounds for emerging-market tech startups, where companies and their backers are fighting for first-mover advantage in the digital space. The aim is to find firms that can replicate the models of
Published 03 May, 2018 12:00am
Petrol price and electoral politics

Petrol price and electoral politics

It is true that the PML-N government has not succumbed to political expediency on the eve of general elections in the country as it has decided to raise the prices of POL products regardless of its electoral prospects. No doubt, it was a very difficult de
Published 03 May, 2018 12:00am
It's time to attract investment through right steps: Zubair

It's time to attract investment through right steps: Zubair

Sindh Governor Mohammad Zubair has said Pakistan is out of the difficult phase it was in and now is the time for taking appropriate decisions to attract investment. Speaking at a meeting of Korangi Association of Trade and Industry (KATI), Governor said C
Published 03 May, 2018 12:00am
Emirates sets record with one million Wi-Fi connections on board

Emirates sets record with one million Wi-Fi connections on board

Emirates has set a new record with over 1 million Wi-Fi connections made on board its flights in March alone. During the month, 1,037,016 Emirates customers connected to the internet during their flight. The connections were mainly made over mobile device
Published 03 May, 2018 12:00am
Emirates sets record with one million Wi-Fi connections on board

Emirates sets record with one million Wi-Fi connections on board

Emirates has set a new record with over 1 million Wi-Fi connections made on board its flights in March alone. During the month, 1,037,016 Emirates customers connected to the internet during their flight. The connections were mainly made over mobile device
Published 03 May, 2018 12:00am
Islamkot to become first SDG-compliant Taluka in Sindh

Islamkot to become first SDG-compliant Taluka in Sindh

The Government of Sindh (GoS) has made an unprecedented move by committing to make Taluka Islamkot of Tharparkar, as first Sustainable Development Goals (SDGs) Model Taluka in Sindh. Planning and Development Board of GoS has issued a notification in this
Published 03 May, 2018 12:00am
MQM-PIB cancels its public meeting

MQM-PIB cancels its public meeting

In a major development to remove differences with Bahadurabad faction of Muttahida Qaumi Movement (MQM) Pakistan, Dr Farooq Sattar, Convener PIB faction of party announced on Wednesday to cancel his group's public meeting at Liaquatabad on May 4. Addressi
Published 03 May, 2018 12:00am
Styrofoam packaging: PBIF concerned over ban by Punjab government

Styrofoam packaging: PBIF concerned over ban by Punjab government

Pakistan Businessmen and Intellectuals Forum (PBIF) president Mian Zahid Hussain has said news regarding imposition of ban on Styrofoam packaging by Punjab Food Authority have increased tension across the plastic manufacturers and related sectors. While t
Published 03 May, 2018 12:00am
Dubai Expo 2020: theme of Pakistan pavilion to be 'Emerging Pakistan'

Dubai Expo 2020: theme of Pakistan pavilion to be 'Emerging Pakistan'

Secretary Commerce Younus Dagha has reviewed progress on Pakistan's participation in Expo 2020, Dubai. An official told Business Recorder that after the 2nd meeting of the Steering Committee on Expo 2020, Dubai, held on April 30, 2018, a summary wa
Published 03 May, 2018 12:00am
Steel production grows by 37 percent

Steel production grows by 37 percent

The demand for steel products is remained strong and posted 37 percent production growth in first half of this fiscal year (FY18) as public sector infrastructure projects and private investment in housing schemes picked up pace. Additional stimulus for th
Published 03 May, 2018 12:00am
BPPL shows robust performance

BPPL shows robust performance

Pakistan's only vertically integrated oil company Byco Petroleum Pakistan Ltd (BPPL) has shown robust performance in its core businesses, declaring an after tax profit of Rs 3.42 billion for the nine months ending March 31, 2018, up from a loss of Rs 128.
Published 03 May, 2018 12:00am
Murad to present Sindh budget on May 10

Murad to present Sindh budget on May 10

Sindh Chief Minister Syed Murad Ali Shah has said that he would present budget for the next financial year, 2018-19 on May 10 at 3pm. This he said Wednesday while talking to media at Kikri Ground where he went to attend third death anniversary of Akbar Na
Published 03 May, 2018 12:00am
Murad to present Sindh budget on May 10

Murad to present Sindh budget on May 10

Sindh Chief Minister Syed Murad Ali Shah has said that he would present budget for the next financial year, 2018-19 on May 10 at 3pm. This he said Wednesday while talking to media at Kikri Ground where he went to attend third death anniversary of Akbar Na
Published 03 May, 2018 12:00am
PBC hails budget as 'manufacturing-friendly'
Exchange

PBC hails budget as 'manufacturing-friendly'

The Pakistan Business Council (PBC) welcomes the proposals put forward in the Federal Budget 2018 to initiate fundamental structural changes in the economy. The PBC believes that measures such as doing away with the full & final tax regime along with the
Published 03 May, 2018 12:00am
Punjab chambers hold workshop to promote safe charity practices

Punjab chambers hold workshop to promote safe charity practices

Bargad, in collaboration with eight Chambers of Commerce and Industry of Punjab held a consultative workshop on Wednesday. The representatives of Chambers of Commerce and Industry from the cities of Lahore, Faisalabad, Multan, Bahawalpur, Sialkot, Gujranw
Published 03 May, 2018 12:00am
MMA to hold public rally at Minar-e-Pakistan on May 13

MMA to hold public rally at Minar-e-Pakistan on May 13

Recently restored Muttahida Majlis-e-Amal (MMA) leaders on Wednesday announced to hold the biggest ever public gathering at Minar-e-Pakistan Lahore on May 13, 2018. Addressing the National Workers Convention of MMA here, the President of newly restored MM
Published 03 May, 2018 12:00am
Summit lifestyle technology opens in Lahore

Summit lifestyle technology opens in Lahore

SUMMIT lifestyle, Pakistan's specialist fat loss and strength training facility, was inaugurated by Cricket legend Mohammad Yousaf in a simple but impressive ceremony at DHA Lahore. The first of its kind facility is offering 3D body scanning, genetic DNA
Published 03 May, 2018 12:00am
Indian forces using chemical weapons against IHK people, says AJK PM

Indian forces using chemical weapons against IHK people, says AJK PM

Prime Minister Azad Jammu and Kashmir (AJ&K) Raja Farooq Haider Khan has stated that the Indian security forces are using chemical weapons against the people of the Indian-occupied Kashmir (IoK). He made these comments during his visit to the office of th
Published 03 May, 2018 12:00am
PML-N criticised for blocking 'Holy Quran Teaching Bill'

PML-N criticised for blocking 'Holy Quran Teaching Bill'

Opposition parties in the Punjab Assembly on Wednesday criticized the ruling Pakistan Muslim League-Nawaz (PML-N) for allegedly blocking the passage of Compulsory Teaching of the Holy Quran Bill 2017. The bill moved by Jamaat-e-Islami's lawmaker Wasim Akh
Published 03 May, 2018 12:00am
Tributes paid to martyrs of Gayari

Tributes paid to martyrs of Gayari

A special ceremony was held at Gayari, Siachen to pay tributes to the martyrs of Gayari who sacrifices their lives in line of duty in 2012 due to a massive snow avalanche. Chief Minister Gilgit-Baltistan, Corps Commander Rawalpindi and relatives of martyr
Published 03 May, 2018 12:00am
Senate body discusses Riba-free economic system

Senate body discusses Riba-free economic system

Senate Standing Committee on Finance here on Wednesday discussed Riba-free economic system in Pakistan and pros and cons of the proposed amendment in Petroleum Products (Petroleum Levy) Ordinance, 1961, which imposed Petroleum Development Levy (PDL) at th
Published 03 May, 2018 12:00am
Senate body discusses Riba-free economic system

Senate body discusses Riba-free economic system

Senate Standing Committee on Finance here on Wednesday discussed Riba-free economic system in Pakistan and pros and cons of the proposed amendment in Petroleum Products (Petroleum Levy) Ordinance, 1961, which imposed Petroleum Development Levy (PDL) at th
Published 03 May, 2018 12:00am
Senate body urges steps for minimising debt to 50 percent of GDP

Senate body urges steps for minimising debt to 50 percent of GDP

The Senate Standing Committee on Finance, Revenue and Economic Affairs on Wednesday recommended the government to adhere to the "Fiscal Responsibility and Debt Limitation Act" and take steps to minimize/reduce debt to 50 percent of GDP, as it is reaching
Published 03 May, 2018 12:00am
Jhimpir power plant's commercial operation begins

Jhimpir power plant's commercial operation begins

Jhimpir Power, Burj Capital's first project in its 500MW renewable asset platform in Pakistan, has now achieved commercial operations. The plant was inaugurated on Wednesday. Burj Capital is a Dubai based investment firm engaged in renewable power develop
Published 03 May, 2018 12:00am
World Press Freedom Day today

World Press Freedom Day today

The World Press Freedom Day will be observed today across the world, including Pakistan, which will focus on highlighting the working of free press under an existing legal frame work and the media's role as a watchdog.
Published 03 May, 2018 12:00am
Dulux announces 'Let's Colour Award' winners

Dulux announces 'Let's Colour Award' winners

Dulux, a leading decorative paints brand by AkzoNobel, showcased two key innovations in interior and exterior paint products; Dulux EasyCare & Weathershield PowerFlexx respectively at IAPEX - the international exhibition of building materials & internatio
Published 03 May, 2018 12:00am
Inflation rate soars to 3.7 percent in April

Inflation rate soars to 3.7 percent in April

The inflation rate increased to 3.7 percent in April 2018 as compared to 3.2 percent during last months, according to data released by the Pakistan Bureau of Statistics (PBS) here on Wednesday. The PBS data revealed that the inflation, measured through Co
Published 03 May, 2018 12:00am
FPCCI, GGCC sign MoU to strengthen trade ties
Exchange

FPCCI, GGCC sign MoU to strengthen trade ties

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Guangzhou General Chamber of Commerce (GGCC) on Wednesday signed a memorandum of understanding to strengthen business relations between the two organizations.
Published 03 May, 2018 12:00am
FCCI introduces first Women Business portal

FCCI introduces first Women Business portal

First Women Business portal of Pakistan has been introduced in the Faisalabad Chamber of Commerce & Industry (FCCI) which will help female entrepreneurs to utilize efficiently the most modern and cutting edge technology of E-commerce for the promotion of
Published 03 May, 2018 12:00am
Rao Anwar skips ATC's proceedings

Rao Anwar skips ATC's proceedings

Suspended SSP Rao Anwar failed to appear before the anti-terrorism court (ATC) in Naqeebullah Mehsud murder case over deteriorating health conditions. Naqeebullah Mehsud, a 27-year-old native of South Waziristan, was killed in an alleged fake encounter by
Published 03 May, 2018 12:00am
Bank Alfalah, IFMP sign MoU
Mutual Funds

Bank Alfalah, IFMP sign MoU

A Memorandum of Understanding was signed between the Institute of Financial Markets of Pakistan (IFMP) and Bank Alfalah in Karachi for the training of financial market professionals, stated a press release Wednesday.
Published 03 May, 2018 12:00am
Notice issued to KE CEO

Notice issued to KE CEO

Sindh High Court (SHC) on Wednesday issued a notice to K-Electric Chief Executive Officer (CEO) Tayyab Tareen in a contempt case pertaining to unannounced loadshedding in Karachi The court issued the notice when it resumed hearing on a petition filed by I
Published 03 May, 2018 12:00am
Promise of generating 1000MW by end of tenure fulfilled: Murad

Promise of generating 1000MW by end of tenure fulfilled: Murad

Sindh Chief Minister Syed Murad Ali Shah has said that the promise he had made to generate 1000MW renewable energy by the end of his tenure has come true as the power generation has reached to 930MW and by December this year it would be around 1200 MW.
Published 03 May, 2018 12:00am
Commercial importers, traders term changes in tax laws 'discriminatory'

Commercial importers, traders term changes in tax laws 'discriminatory'

Commercial importers and traders have termed changes made in Federal Budget 2018-19 tax laws as discriminatory and anti-business and urged KCCI to take up numerous anomalies with the Ministry of Finance and Federal Board of Revenue (FBR) so that same of t
Published 03 May, 2018 12:00am
Seminar on Pak-Japan ties held at Greenwich university

Seminar on Pak-Japan ties held at Greenwich university

The Greenwich University and Pakistan Japan Intellect Forum (PJIF) had a seminar on Japan Pakistan Relations at the university campus in Karachi. The purpose of the event is to enhance the intellectual relationships and deepen the mutual understandings be
Published 03 May, 2018 12:00am
Rowdy scenes witnessed in Senate's proceedings
Exchange

Rowdy scenes witnessed in Senate's proceedings

The Senate on Wednesday witnessed a bizarre verbal clash between Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP) lawmakers followed by a walkout by the combined opposition, which interrupted the debate on federal budget in the House.
Published 03 May, 2018 12:00am
Press Freedom Day: Zardari for ending violence against journalists

Press Freedom Day: Zardari for ending violence against journalists

Press Freedom Day is an appropriate occasion to commit ourselves ending violence against journalists and also to vigorously defend the frontiers of freedom of expression as guaranteed in the Constitution. Former president Asif Ali Zardari expressed these
Published 03 May, 2018 12:00am
BASF signs another accord with Bayer

BASF signs another accord with Bayer

In addition to the agreement signed in October 2017, BASF has signed another agreement to purchase further businesses and assets, which Bayer offered to divest in the context of its planned acquisition of Monsanto. The expanded scope includes Bayer's enti
Published 03 May, 2018 12:00am
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