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Archive - 2018-05-10
Ample funds for law, order, says Murad
Pakistan Top News

Ample funds for law, order, says Murad

KARACHI: Sindh Chief Minister Syed Murad Ali Shah presenting the provincial budget said that we have been able to re
Published 10 May, 2018 07:44pm
Allocation of education Rs178.70bn
Pakistan Top News

Allocation of education Rs178.70bn

KARACHI: Sindh chief minister Murad Shah said that his government was fully committed to provide quality education.
Published 10 May, 2018 07:42pm
Huge funds for healthcare: Murad
Pakistan Top News

Huge funds for healthcare: Murad

KARACHI: Sindh chief minister Murad Shah said that the Sindh government has spent huge funds for betterment of healt
Published 10 May, 2018 07:40pm
Senate session starts
General News

Senate session starts

ISLAMABAD: The session of Senate Thursday started at 3pm with the recitation of verses from the Holy Quran. Chairman
Published 10 May, 2018 12:25pm
Tokyo stocks close higher
Financial

Tokyo stocks close higher

Tokyo: Tokyo stocks closed higher on Thursday, taking a positive lead from Wall Street, but investors remained cautious
Published 10 May, 2018 08:00am
On data privacy
Miscellaneous

On data privacy

In the online space, consumers may not be the king, but their data surely is, both for legitimate and illegitimate data
Published 10 May, 2018 06:20am
Middle class, business and government

Middle class, business and government

We all know Middle Class, both experientially and perceptively. Most readers have been there, up or down the middle class pole, mostly up. We also know middle class values: notion of 'respectability', living within means, investing in children, appearing
Published 10 May, 2018 12:00am
As you sow, so shall you reap

As you sow, so shall you reap

As expected, leaders of all political parties as well as the Army chief have strongly condemned the assassination attempt on Interior Minister Ahsan Iqbal by a man affiliated with the Tehrik Labbaik Ya Rasool Allah (TLYRA), which is a result of unrestrain
Published 10 May, 2018 12:00am
Gulf braces for fallout after US exit from Iran deal

Gulf braces for fallout after US exit from Iran deal

Gulf Arab countries were on Wednesday bracing for the economic and security fallout after President Donald Trump announced the United States was exiting the Iran nuclear deal.
Published 10 May, 2018 12:00am
Ramazan package

Ramazan package

The Economic Coordination Committee of the Cabinet has approved a Rs 1.733 billion Ramazan Relief Package to provide subsidy on 19 items through Utility Stores Corporation (USC). It has reportedly decided to provide subsidy on flour, sugar, cooking oil/gh
Published 10 May, 2018 12:00am
Money laundering notice damaged NAB's image badly: Shahbaz

Money laundering notice damaged NAB's image badly: Shahbaz

Reacting sharply over the NAB's notice regarding alleged US $ 4.9 billion money laundering by Nawaz Sharif, the Punjab Chief Minister Shahbaz Sharif Wednesday said the whole nation is in quandary over this action which has weakened the credibility of NAB
Published 10 May, 2018 12:00am
Nestlé Pakistan, BISP sign MoU

Nestlé Pakistan, BISP sign MoU

Nestlé Pakistan and Benazir Income Support Programme (BISP) have signed an MoU to empower women of rural Pakistan to help themselves and transition from being "Financially Dependent" to "Financially Independent". This MoU is part of Nestlé's commitment to
Published 10 May, 2018 12:00am
'New textile package to be announced soon'

'New textile package to be announced soon'

Prime Minister Shahid Khaqan Abassi has assured that new textile package will be announced within the next couple of days. Talking to Shabbir Hussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI) and other business leaders, after atten
Published 10 May, 2018 12:00am
Speakers for fighting against illegal fishing

Speakers for fighting against illegal fishing

Illegal, Unreported and Unregulated (IUU) fishing is a serious fisheries management related issue being faced by developed and developing countries and Pakistan is not an exception. IUU is generally considered as a marine crime and not most of the countri
Published 10 May, 2018 12:00am
PTV, Radio, PID and APP: Need for observing job quota stressed

PTV, Radio, PID and APP: Need for observing job quota stressed

After a brainstorming session on Wednesday, the Senate Standing Committee on Information, Broadcasting, National History and Literary Heritage Wednesday set the agenda for the meeting. The meeting was held with its newly elected Chairman Senator Faisal Ja
Published 10 May, 2018 12:00am
TPPL inaugurates 600th new image retail station

TPPL inaugurates 600th new image retail station

Total PARCO Pakistan Limited (TPPL) inaugurated its 600th new image retail station service station concept at the premises of Star Petroleum Raiwind Road Lahore. The site was jointly inaugurated in the presence of the by senior management of TPPL, senior
Published 10 May, 2018 12:00am
PPDWP approves uplift schemes worth Rs 15.13 billion

PPDWP approves uplift schemes worth Rs 15.13 billion

Punjab Provincial Development Working Party approved six development schemes of various sectors with an estimated cost of Rs 15.13 billion including Punjab Non-Formal Education Project (Revised) at the cost of Rs 7.299 billion, These schemes were approved
Published 10 May, 2018 12:00am
PPP to contest elections with full preparation in Punjab: Zardari

PPP to contest elections with full preparation in Punjab: Zardari

Pakistan People's Party (PPP) Co-Chairman Asif Zardari said on Wednesday that his party would contest upcoming general elections with full preparation from the province of Punjab. He held a meeting with PPP Lahore President Aziz-ur-Rehman Chan at the Bila
Published 10 May, 2018 12:00am
Tirmizi's wife passes away

Tirmizi's wife passes away

The wife of Lieutenant-General Salahudiin Tirmizi (retd), Federal Minister for Narcotics Control passed away in Rawalpindi on Wednesday due to severe heart attack at the age of 74.
Published 10 May, 2018 12:00am
GE, Artistic Milliners commission new 50MW wind farm

GE, Artistic Milliners commission new 50MW wind farm

GE Renewable Energy and Artistic Milliners have officially commissioned the flagship 'Artistic Energy (Pvt.) Ltd.' wind farm in the Gharo-Keti Bandar Wind Corridor in Jhimpir, Sindh, a project which will help Pakistan expand its renewable energy productio
Published 10 May, 2018 12:00am
JI chief terms existing taxation system a 'total failure'

JI chief terms existing taxation system a 'total failure'

While criticizing the federal budget, Emir Jamaat-e-Islami (JI) Senator Sirajul Haq has said that the present taxation system is a total failure and therefore it is the need of the hour to switch over to the Islamic system of Zakat and Usher.
Published 10 May, 2018 12:00am
Expert highlights threats, challenges to world's food security

Expert highlights threats, challenges to world's food security

Cornell University, New York International Professor Dr Syed S.H. Rizvi Wednesday highlighted major threats and challenges to the world's food security and sustainability, stressed that their future depends upon developing sustainable food systems which u
Published 10 May, 2018 12:00am
Experts review national water policy at USPCAS-W

Experts review national water policy at USPCAS-W

A consultative meeting on recently approved National Water Policy took place at the US-Pakistan Center for Advanced Studies in Water (USPCAS-W), Mehran University of Engineering and Technology (MUET) Jamshoro on Wednesday.
Published 10 May, 2018 12:00am
SAU, SBP organise job fair

SAU, SBP organise job fair

an exciting job fair on Wednesday offered opportunities to graduates and students of Sindh Agriculture University (SAU) Tandojam belong to different fields. Students were offered to be registered with lending banks for jobs during the fair.
Published 10 May, 2018 12:00am
Punjab agriculture department distributes motorbikes among farmers

Punjab agriculture department distributes motorbikes among farmers

The Punjab Agriculture Department (PAD) on Wednesday distributed motorcycles among the most connected farmers on mobile application Connected Agriculture Platform Punjab (CAPP) developed by the department for disseminating agro-based information to the fa
Published 10 May, 2018 12:00am
Rice exports post 27 percent increase in 10 months

Rice exports post 27 percent increase in 10 months

Rice exports from Pakistan have seen sizeable growth of 27 percent in the first ten months of current fiscal year (FY18). Pakistan has exported some 3.228 million metric tonnes of rice amounting to $1.573 billion in July to April of this fiscal year, wher
Published 10 May, 2018 12:00am
MTBs auction: government mops up Rs 483.794 billion

MTBs auction: government mops up Rs 483.794 billion

The federal government Wednesday raised Rs 483.794 billion through the auction for short-term government papers. The State Bank of Pakistan (SBP), on May 9, 2018, conducted the auction for the sale of 3-month, 6-month and 12-month government of Pakistan M
Published 10 May, 2018 12:00am
MTBs auction: government mops up Rs 483.794 billion

MTBs auction: government mops up Rs 483.794 billion

The federal government Wednesday raised Rs 483.794 billion through the auction for short-term government papers. The State Bank of Pakistan (SBP), on May 9, 2018, conducted the auction for the sale of 3-month, 6-month and 12-month government of Pakistan M
Published 10 May, 2018 12:00am
13th EFP OSH Awards 2017 ceremony held

13th EFP OSH Awards 2017 ceremony held

Award winning companies demonstrating best practices in the area of Occupational Safety and Health(OSH) with Ingrid Christensen, Country Director, ILO Islamabad, Majyd Aziz, President, Zaki Ahmed Khan, Vice President, M Feroz Alam, Nazar Ali, Humayun Nazi
Published 10 May, 2018 12:00am
NUT's DG meets Tevta chief

NUT's DG meets Tevta chief

Director General National University of Technology Lieutenant General Khalid Asghar (retd) called upon Chairman Technical Education and Vocational Training Authority (TEVTA) here on Wednesday. Irfan Qaiser Sheikh briefed him about the programs run by TEVT
Published 10 May, 2018 12:00am
Election 2018: MQM-P forms parliamentary board to finalize candidates

Election 2018: MQM-P forms parliamentary board to finalize candidates

Muttahida Qaumi Movement Pakistan (MQM-P) on Wednesday formed a parliamentary board to shortlist the candidates for national and provincial assemblies in upcoming general elections in 2018. The board has been constituted following a thorough consultation,
Published 10 May, 2018 12:00am
PCMA demands restoration of group tax relief

PCMA demands restoration of group tax relief

Pakistan Chemical Manufacturers Association (PCMA) has said that the process of corporatization would badly be discouraged if the government did not restore group tax facility under Section 59B along with clause (103A) of the Income Tax Ordinance, 2001. T
Published 10 May, 2018 12:00am
Stockbrokers' plea: SHC restrains FBR from recovering capital gains tax

Stockbrokers' plea: SHC restrains FBR from recovering capital gains tax

Sindh High Court (SHC) on Wednesday granted stay in recovery of capital gains tax from stock brokers by restraining Federal Board of Revenue (FBR) from passing any final order in this regard. SHC took up the petition of stock brokers, which moved the high
Published 10 May, 2018 12:00am
KWSB sets up online tankers centres

KWSB sets up online tankers centres

Karachi Water & Sewerage Board (KW&SB) has established 'online tankers centre' to mitigate the water woes of citizens. The customers would no longer be waiting at hydrants making long queues to avail water tankers thanks to Managing Director (MD) KW&SB Kh
Published 10 May, 2018 12:00am
CSAS organises seminar

CSAS organises seminar

Punjab University Centre for South Asian Studies (CSAS) has organizes a seminar on "Nuclear Regulatory Framework and Oversight Process in Pakistan" in its auditorium. Former Chairman Pakistan Nuclear Regulatory Authority Dr Muhammad Anwar Habib was the ke
Published 10 May, 2018 12:00am
'Digital Pakistan Policy' awaits Prime Minister's nod

'Digital Pakistan Policy' awaits Prime Minister's nod

The 'Digital Pakistan Policy' proposing several incentives, including 10 percent rebate, cash reward and special economic zones for information technology & enabled services' exports and growth, is waiting for the final nod of Prime Minister Shahid Khaqan
Published 10 May, 2018 12:00am
TV channels: IHC bans 'Neelam Ghar', lottery programmes in Ramazan

TV channels: IHC bans 'Neelam Ghar', lottery programmes in Ramazan

The Islamabad High Court on Wednesday directed to ban all programs containing lottery and gambling during the holy month of Ramazan. A single bench of IHC comprising Justice Shaukat Aziz Siddiqui issued these directions while disposing of a petition again
Published 10 May, 2018 12:00am
'SMEs sector ignored by government'

'SMEs sector ignored by government'

The government never took up a roadmap for uplifting SMEs sector, proposed by experts. There has only been rhetoric even after passage of five years. Rehmatullah Javed, Chairman SMEs National Committee of Federation of Pakistan Chambers of Commerce & Indu
Published 10 May, 2018 12:00am
Peshawar prison's poor condition draws CJP's ire

Peshawar prison's poor condition draws CJP's ire

Chief Justice of Pakistan Justice Saqib Nisar, during his visit to Peshawar Central Prison on Wednesday, expressed his anger over the prison's poor conditions. In his remarks, the Chief justice said, "These patients are humans, not animals. And these faci
Published 10 May, 2018 12:00am
Turkish Airlines Awards ceremony hosted for travel agents

Turkish Airlines Awards ceremony hosted for travel agents

An awards ceremony was hosted here to recognize the efforts of top performing partner travel agents of Turkish Airlines. The ceremony was attended by Hamid Eldelekioglu, General Manager of Turkish Airlines for Lahore region, and more than 100 partner trav
Published 10 May, 2018 12:00am
US releases agreement for Ali Jahangir

US releases agreement for Ali Jahangir

The United States has released the agreement for Ali Jahangir Siddiqui, paving the way for him to assume his new diplomatic assignment as Pakistan's ambassador to Washington, it was learnt. According to diplomatic sources, the agreement for Siddiqui has b
Published 10 May, 2018 12:00am
Governor announces four mega projects for Karachi

Governor announces four mega projects for Karachi

With advent of elections season, the PML-N-led federal government has come up with execution of multibillion uplift schemes for Karachi as Governor Sindh Muhammad Zubair on Thursday announced four mega projects worth Rs 8.6 billion for the city as part of
Published 10 May, 2018 12:00am
Senate panel considers: ICT Child Protection Bill, 2018, others

Senate panel considers: ICT Child Protection Bill, 2018, others

Senate Functional Committee on Human Rights met here on Wednesday to consider 'the Islamabad Capital Territory Child Protection Bill, 2018,' 'the Women in Distress and Detention Fund (Amendment) Bill, 2017,' 'the Juvenile Justice System Bill, 2018' and 't
Published 10 May, 2018 12:00am
Levelized tariff of $0.4177 per mmbtu RLNG determined for May

Levelized tariff of $0.4177 per mmbtu RLNG determined for May

Oil and Gas Regulatory Authority (Ogra) has determined for Pakistan LNG Limited (PLL) a levelized tariff of $0.4177 per mmbtu RLNG for the month of May. According to Ogra's notification, RLNG terminal charges of PLL have been determined at a levelized tar
Published 10 May, 2018 12:00am
NAB should not have licence to shame politicians: Marriyum

NAB should not have licence to shame politicians: Marriyum

NAB should not have the licence to shame politicians just three months before election. This was observed by the Federal Minister for Information and Broadcasting Marriyum Aurangzeb while talking to the media after inquiring about the welfare of Interior
Published 10 May, 2018 12:00am
Technology Development Fund: HEC invites researchers to submit proposals

Technology Development Fund: HEC invites researchers to submit proposals

The Higher Education Commission (HEC) Wednesday invited researchers and academicians to submit their proposals under Technology Development Fund (TDF) in its third call for proposals by August 30, 2018. The TDF is a five-year Public Sector Development Pro
Published 10 May, 2018 12:00am
Workshop on integrated flood management held

Workshop on integrated flood management held

Within the framework of the UNIDO/GEF project entitled "Sialkot Tannery Zone Project", SIALKOT Tannery Association(Guarantee Limited (STAGL) with the collaboration with of UNIDO has organized a consultative workshop on "Integrated Flood Management for Sia
Published 10 May, 2018 12:00am
SSGC's gas theft drive continues

SSGC's gas theft drive continues

Sui Southern Gas Company (SSGC) tightened the rope against the gas thieves by cutting down the various illegal connections at various locations in its franchise areas. The SS&CGTO team in coordination with Company's CRD, FIR Cell and along with SSGC polic
Published 10 May, 2018 12:00am
1LINK, TPS enter agreement to modernise bill payments landscape

1LINK, TPS enter agreement to modernise bill payments landscape

In an important move for mass scale adoption of digital bill payments in Pakistan, TPS and 1LINK have entered into an agreement to overhaul 1LINK's existing Bill Payment Service (BPS). The objective of this partnership is to modernise the existing bill pa
Published 10 May, 2018 12:00am
Swiss Business Council completes 10 years in Pakistan

Swiss Business Council completes 10 years in Pakistan

To mark the 10th anniversary of the establishment of the Swiss Business Council (SBC) in Pakistan, the Consulate General of Switzerland in Karachi in collaboration with the SBC hosted an exclusive event at the Swiss Consul General's residence on Tuesday.
Published 10 May, 2018 12:00am
SBP issues Electronic Fund Transfers regulations

SBP issues Electronic Fund Transfers regulations

The State Bank of Pakistan (SBP) Wednesday issued Electronic Fund Transfer (EFT) regulations, effective from 1st October 2018, to ensure consumer protection and payment transparency. As per regulations, Authorized Financial Institutions (AFIs) will be lia
Published 10 May, 2018 12:00am
Sindh government to present budget today

Sindh government to present budget today

Sindh government has announced to present the provincial budget Thursday. Sindh government had to present the budget for financial year 2018-19 on May 5, however government backtracked from its decision, now it has announced to unveil budget on May 10.
Published 10 May, 2018 12:00am
Sindh government to present budget today

Sindh government to present budget today

Sindh government has announced to present the provincial budget Thursday. Sindh government had to present the budget for financial year 2018-19 on May 5, however government backtracked from its decision, now it has announced to unveil budget on May 10.
Published 10 May, 2018 12:00am
Sindh Assembly adopts motor vehicles amendment bill

Sindh Assembly adopts motor vehicles amendment bill

The Sindh Assembly on Wednesday adopted a law to exempt drivers of emergency vehicles including ambulances, law enforcement vans, and firefighting tenders from punishments if they kill or injure anyone during their operations but the opposition called the
Published 10 May, 2018 12:00am
PML-N's South Punjab defectors join PTI

PML-N's South Punjab defectors join PTI

Pakistan Muslim League-Nawaz (PML-N) lawmakers from South Punjab, who had defected from the party, have joined Pakistan Tehreek-e-Insaf (PTI). The move came after PTI vice chairman Shah Mehmood Qureshi and PTI spokesperson Fawad Chaudhry confirmed that th
Published 10 May, 2018 12:00am
PTI expels 14 MPAs on horse-trading charges

PTI expels 14 MPAs on horse-trading charges

Pakistan Tehrik-I-Insaf (PTI) KP on Wednesday terminated membership of 14 MPAs of KP Assembly after expiry of the deadline given to them for submitting reply to the show-cause notices served on them over alleged selling votes in Senate elections in the KP
Published 10 May, 2018 12:00am
Students of Zindagi Trust meet CoAS

Students of Zindagi Trust meet CoAS

A group of students from different public schools managed by Zindagi Trust, an organization striving to make holistic, quality education accessible to average Pakistani child met Chief of Army Staff (CoAS) General Qamar Javed Bajwa at General Headquarters
Published 10 May, 2018 12:00am
FPCCI to hold Pakistan Trade Expo at Toronto

FPCCI to hold Pakistan Trade Expo at Toronto

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has announced to hold the 4th Pakistan Trade Expo 2018 at Toronto in October 2018. Giving details of the Trade Expo, Senior Vice President FPCCI Mazhar Ali said that decision has been taken
Published 10 May, 2018 12:00am
Machinery import: FBR recovers Rs 1.1 billion from Chinese firm

Machinery import: FBR recovers Rs 1.1 billion from Chinese firm

Federal Board of Revenue (FBR) has recovered Rs 1.1 billion from a Chinese firm for importing machinery into Pakistan without filing of Goods Declaration (GD) in fiscal year 2016-17 at Port Qasim with the effort of Collector and Chief Collectors, well-inf
Published 10 May, 2018 12:00am
Pakistan's qualification to become NSG member highlighted

Pakistan's qualification to become NSG member highlighted

Foreign Secretary Tehmina Janjua on Wednesday highlighted Pakistan's qualification to become member of the Nuclear Supplier Group (NSG) and warned that any country-specific exception for the Group's membership will be detrimental to the credibility of the
Published 10 May, 2018 12:00am
Sindh government's performance far better than PTI's in KP: Shah

Sindh government's performance far better than PTI's in KP: Shah

Leader of Opposition in National Assembly, Syed Khurshid Shah on Wednesday said performance of the Sindh government is far better than PTI government in Khyber Pakhtunkhwa and asked the PTI chief to instead of agitation concentrate on good governance and
Published 10 May, 2018 12:00am
Rahila Magsi elected Senate body chairperson

Rahila Magsi elected Senate body chairperson

Senator Rahila Magsi has been elected as chairperson of the Senate Standing Committee on Federal Education & Professional Training here on Wednesday. The election was conducted according to Rule 184(1) of the Rules of Procedure and Conduct of Business in
Published 10 May, 2018 12:00am
PIMC, SWF sign MoU

PIMC, SWF sign MoU

Pakistan Microfinance Investment Company (PMIC) and Sona Welfare Foundation (SWF), the corporate social responsibility wing of Fauji Fertilizer Company (FFC), have signed an MOU of Rs 260 million to implement an Agriculture Value Chain for 5,000 rice farm
Published 10 May, 2018 12:00am
Prime Minister ignores 'unprecedented' incentives given to Parco

Prime Minister ignores 'unprecedented' incentives given to Parco

Prime Minister Shahid Khaqan Abbasi has reportedly ignored objections of Law Minister, Commerce Minister and Secretary Privatisation on "unprecedented" incentives allocated to Parco to establish a refinery at Khalifa point Hub (Balochistan), well-informed
Published 10 May, 2018 12:00am
Rising trade gap creating serious BoP issues: NA panel

Rising trade gap creating serious BoP issues: NA panel

Members of the Finance Committee of the National Assembly have expressed serious concern over the rising trade gap whose ramifications on foreign exchange reserves and external account are creating serious balance of payment problems for the country. A me
Published 10 May, 2018 12:00am
SC issues notices to IGPs of police, FC over Balochistan L&O situation

SC issues notices to IGPs of police, FC over Balochistan L&O situation

The Supreme Court on Wednesday issued notices to inspector general of Balochistan police and IGs Frontier Corps (FC) North and South regarding the law and order situation in Balochistan. A three-judge bench, headed by Chief Justice Mian Saqib Nisar, was h
Published 10 May, 2018 12:00am
PIA plane makes emergency landing at DG Khan airport

PIA plane makes emergency landing at DG Khan airport

The flight PK-585 of Pakistan International Airlines (PIA) on Wednesday made an emergency landing at Dera Ghazi Khan Airport. According to details, the flight PK-585 of PIA, which took off Dera Ghazi Khan Airport to Karachi, returned to at Dera Ghazi Khan
Published 10 May, 2018 12:00am
Century Paper and Boards Mills Limited
Mutual Funds

Century Paper and Boards Mills Limited

The flagship company of the Lakson Group, Century Paper and Board Mills (CPBM) Limited was established in 1984. It started commercial production in 1990 with a production capacity of 30,000 metric tons, which had doubled by 1999. It entered into corrugate
Published 10 May, 2018 12:00am
Century Paper and Boards Mills Limited
Mutual Funds

Century Paper and Boards Mills Limited

The flagship company of the Lakson Group, Century Paper and Board Mills (CPBM) Limited was established in 1984. It started commercial production in 1990 with a production capacity of 30,000 metric tons, which had doubled by 1999. It entered into corrugate
Published 10 May, 2018 12:00am
Senate unanimously adopts 144 recommendations

Senate unanimously adopts 144 recommendations

The Senate Wednesday unanimously adopted 144 recommendations made by Senate Standing Committee on Finance. The recommendations include increase in the tax rates for individuals, reduction in customs duty on the import of soybean oil and increase in petrol
Published 10 May, 2018 12:00am
Chairpersons of three Senate committees elected

Chairpersons of three Senate committees elected

The senators on Wednesday unanimously elected the chairmen of three standing committees including Senate Standing Committees on Housing and Works, Privatization, and Government Assurances. The elections were conducted according to Rule 184(1) of the Rules
Published 10 May, 2018 12:00am
US midday: gold slips

US midday: gold slips

Gold prices dipped on Wednesday as safe-haven buying failed to kick in after the United States withdrew from the Iranian nuclear accord, and as rising US Treasury yields added pressure. Dismayed European allies sought to salvage the international nuclear
Published 10 May, 2018 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

US wheat futures fell to a one-week low on Wednesday on position-squaring ahead of a monthly crop report from the US Department of Agriculture and forecasts for welcome rains in Russia's crop belt, analysts said. Soyabean and corn futures were also lower
Published 10 May, 2018 12:00am
Gold down in Europe

Gold down in Europe

Gold prices edged lower on Wednesday as safe-haven buying failed to kick in after the United States withdrew from the Iranian nuclear accord. Dismayed European allies sought to salvage the international nuclear pact with Iran after US President Donald Tru
Published 10 May, 2018 12:00am
Gold dips in Asia

Gold dips in Asia

Gold prices fell to their lowest in almost a week on Wednesday, as the dollar strengthened after US President Donald Trump's decision to pull the United states out of the Iran nuclear deal boosted oil prices and pushed Treasury yields higher. Raising the
Published 10 May, 2018 12:00am
Gold flat in New York

Gold flat in New York

Gold prices were flat following a brief increase on Tuesday after the US dollar backed down from a new 2018 high as worries hovered that the United States may be set to pull out of a key nuclear accord with Iran. Spot gold was flat at $1,313.76 per ounce
Published 10 May, 2018 12:00am
Robusta coffee dips, New York cocoa falls

Robusta coffee dips, New York cocoa falls

Robusta coffee futures fell more than 3 percent on Wednesday, after a wave of producer hedging halted the market's recent advance, while cocoa prices stumbled on chart-inspired selling and headed for a correction. July robusta coffee settled down $47, or
Published 10 May, 2018 12:00am
Ivory Coast suspension of cocoa seed plans raises quality concerns

Ivory Coast suspension of cocoa seed plans raises quality concerns

Ivory Coast's move to halt the distribution of high-yielding seeds and other advanced tools to cocoa farmers could pave the way for problems regarding quality, more erratic production and the spread of diseases, industry sources warn. Ivory Coast recently
Published 10 May, 2018 12:00am
Morocco's cereal harvest to reach 9.82 million tonnes

Morocco's cereal harvest to reach 9.82 million tonnes

Morocco's cereal harvest is expected to reach 9.82 million tonnes in 2018, matching last year's harvest despite late rainfall, the agriculture minister said on Monday. The forecast is above the most recent official estimates for about 8 million tonnes. "D
Published 10 May, 2018 12:00am
Oil jumps three percent after US quits Iran deal, US stock drawdown

Oil jumps three percent after US quits Iran deal, US stock drawdown

Oil prices rose about 3 percent on Wednesday and hit fresh 3-1/2 year highs after a bigger-than-expected drawdown in US oil inventories extended gains from the United States' decision to quit a nuclear deal with Iran. Ignoring pleas by allies, US Presiden
Published 10 May, 2018 12:00am
Saudi Arabia ready to raise oil supply

Saudi Arabia ready to raise oil supply

Saudi Arabia, the world's largest oil exporter, has said it will take all necessary measures to prevent supply shortages following the US withdrawal from the Iran nuclear deal. "The kingdom will work with major oil producers within and outside OPEC, and w
Published 10 May, 2018 12:00am
Copper rises
Currency

Copper rises

Copper rose on Wednesday as expectations for solid demand this quarter helped the metal claw back some lost ground after it fell 1 percent in the previous session, although caution over the Iran nuclear deal kept a lid on gains. Oil prices jumped back to
Published 10 May, 2018 12:00am
Rubber steadies
Currency

Rubber steadies

Benchmark Tokyo rubber futures ended flat on Wednesday as a weaker yen against the dollar offset lean Shanghai futures. The Tokyo Commodity Exchange rubber contract for October delivery finished unchanged at 191.7 yen ($1.75) per kg, pulling away from a 1
Published 10 May, 2018 12:00am
North Korea frees three US detainees ahead of Trump summit

North Korea frees three US detainees ahead of Trump summit

North Korea has freed three American detainees, President Donald Trump announced Wednesday, hailing a diplomatic victory ahead of a planned summit with Kim Jong Un. Pyongyang granted the three men "amnesty," a US official said, and they are now on their w
Published 10 May, 2018 12:00am
Trump rules out Demilitarized Zone for Kim summit

Trump rules out Demilitarized Zone for Kim summit

US President Donald Trump on Wednesday ruled out the Demilitarized Zone that divides the Korean peninsula as a venue for his upcoming summit with Kim Jong Un. Trump, who had previously named the DMZ and Singapore as possible sites for the landmark meeting
Published 10 May, 2018 12:00am
Sri Lanka creates special courts for Rajapakse-era graft

Sri Lanka creates special courts for Rajapakse-era graft

Sri Lanka's parliament Wednesday voted to set up special courts to try multi-billion dollar graft cases under former president Mahinda Rajapakse. The move aims to accelerate several high-profile cases following criticism over the slow pace of justice sinc
Published 10 May, 2018 12:00am
Facebook makes major management overhaul
Kerb

Facebook makes major management overhaul

Facebook on Tuesday confirmed an unprecedented management team shakeup in the aftermath of a major data privacy scandal that has rocked the social network. Co-founder Mark Zuckerberg remained chief of Facebook, with chief operating officer Sheryl Sandberg
Published 10 May, 2018 12:00am
Russia shows off military hardware in Red Square parade

Russia shows off military hardware in Red Square parade

Russia rolled out its latest military hardware on Moscow's Red Square on Wednesday for the annual parade to mark Soviet victory over Nazi Germany as President Vladimir Putin begins his fourth Kremlin term. "Our people fought to the death.
Published 10 May, 2018 12:00am
Rocket fire kills four in Damascus

Rocket fire kills four in Damascus

Rocket fire in the Syrian capital killed four people and wounded dozens of others on Wednesday, state media said. State news agency SANA said four people were killed and 24 wounded in "attacks on the Damascus Tower and Maysat Square". "A rocket fired by t
Published 10 May, 2018 12:00am
Suicide bombers, gunmen attack Kabul police stations

Suicide bombers, gunmen attack Kabul police stations

Suicide bombers and gunmen launched apparently coordinated attacks on two Kabul police stations Wednesday, killing at least five people, with security forces still searching for assailants as the city braces for more violence. A series of loud explosions
Published 10 May, 2018 12:00am
Turkey vote won't be credible with emergency rules in place: UN

Turkey vote won't be credible with emergency rules in place: UN

Turkey's upcoming presidential elections will not be credible unless the country lifts restrictive emergency measures imposed following a failed 2016 coup, the United Nations human rights chief said Wednesday. "Over the past two years, through successive
Published 10 May, 2018 12:00am
Russian oligarch paid large sums to Trump lawyer

Russian oligarch paid large sums to Trump lawyer

A recently sanctioned Russian oligarch used his company to pay hundreds of thousands of dollars to President Donald Trump's longtime personal attorney, deposited into an account used to pay off a pornographic film actress, US media reported Tuesday. CNN s
Published 10 May, 2018 12:00am
CIA nominee Haspel vows spy agency will not reinstate torture

CIA nominee Haspel vows spy agency will not reinstate torture

Gina Haspel, Donald Trump's nominee to lead the CIA, vowed Wednesday that the spy agency will not engage in torture of detainees under her watch, even if ordered by the president. Facing opposition over her role at a secret CIA prison in Thailand in 2002
Published 10 May, 2018 12:00am
Delhi police parade 'space suit' scammers after NASA claims exposed

Delhi police parade 'space suit' scammers after NASA claims exposed

The alleged scam was out of this world but Indian police brought a father and son duo down to earth Wednesday when they paraded them in the fake space suits used to convince a businessman to hand over more than $200,000. New Delhi police released pictures
Published 10 May, 2018 12:00am
Kenya's flying doctors group awarded top Spanish prize

Kenya's flying doctors group awarded top Spanish prize

Amref Health Africa, a Kenya-based flying doctors group, was awarded on Wednesday Spain's prestigious Princess of Asturias award for international cooperation for their efforts "to respond to the needs of millions of people on the African continent". "By
Published 10 May, 2018 12:00am
Meghan unveiled at London waxwork museum

Meghan unveiled at London waxwork museum

A waxwork of Meghan Markle wearing a replica of her diamond engagement ring was unveiled on Wednesday at London's Madame Tussauds museum, less than two weeks before her wedding to Prince Harry. "Excitement ahead of the royal wedding is reaching fever pitc
Published 10 May, 2018 12:00am
One killed in Rio beach helicopter crash

One killed in Rio beach helicopter crash

One person was killed and three were injured Wednesday when a helicopter crashed into the sea just off an upmarket Rio de Janeiro beach, the fire department said. A rescue team including a fire department helicopter, divers and jet skis pulled the fatalit
Published 10 May, 2018 12:00am
PCB formulates policy for participation of players in leagues

PCB formulates policy for participation of players in leagues

In a major development, Pakistan Cricket Board (PCB) has formulated a policy with regard to participation of cricket players in cricket leagues besides making regulations for holding private leagues in the country. The decisions were taken at a meeting of
Published 10 May, 2018 12:00am
Serbia bans Kosovo karate squad from entering country

Serbia bans Kosovo karate squad from entering country

Serbia prevented the Kosovo karate squad from entering the country to participate in the European Championships, officials in Belgrade said on Wednesday. Kosovo unilaterally declared independence from Serbia in 2008, but Belgrade still does not recognise
Published 10 May, 2018 12:00am
Japan's Antlers draw first blood with Shanghai win

Japan's Antlers draw first blood with Shanghai win

Japan's Kashima Antlers banished their continental phobia by humbling Shanghai SIPG 3-1 to take the edge in their Asian Champions League last 16 tie on Wednesday. In South Korea, meanwhile, Ulsan Hyundai squeezed past K-League rivals Suwon Bluewings 1-0 a
Published 10 May, 2018 12:00am
Leeds Utd lose first match on controversial Myanmar tour

Leeds Utd lose first match on controversial Myanmar tour

Leeds United suffered an embarrassing 2-1 defeat Wednesday in the first friendly of a tour to Myanmar that has stoked controversy over playing in a country condemned for its treatment of its Rohingya community. The second tier Championship side are seekin
Published 10 May, 2018 12:00am
All set to hold Tour de Khunjrab-2018 Road Cycle Race

All set to hold Tour de Khunjrab-2018 Road Cycle Race

All is set to hold International Tour de Khunjrab-2018 Road Cycle Race from May 11-13, 2018 under the aegis of Pakistan Cycling Federation in collaboration with Govt of Gilgit-Baltistan and Islamabad Cycling Federation here. The event will consist of thre
Published 10 May, 2018 12:00am
Shoaib Malik sees 2020 World T20 will be his last one

Shoaib Malik sees 2020 World T20 will be his last one

All-rounder Shoaib Malik is eyeing to play the 2020 World Twenty20 before saying goodbye to the limited overs cricket. Shoaib who retired from Test cricket at the end of 2015 believe that consistency would be required to play the 2020 World Cup. "The 2019
Published 10 May, 2018 12:00am
National golf stars aim to shine at Chevron-DHA Golf

National golf stars aim to shine at Chevron-DHA Golf

Karachi's seasoned professional Waheed Baloch will be looking to defend his crown in the Chevron-DHA Karachi Cup All Pakistan Open Golf Championship which tees off here at the Defence Authority Country and Golf Club from Thursday (tomorrow). Almost all of
Published 10 May, 2018 12:00am
Serena pulls out of Italian Open

Serena pulls out of Italian Open

Former world number one Serena Williams has pulled out of next week's Italian Open in Rome, organisers confirmed on Wednesday.
Published 10 May, 2018 12:00am
Djokovic will get back to his best, insists Nadal

Djokovic will get back to his best, insists Nadal

Rafael Nadal is sure Novak Djokovic will return to the highest level in tennis despite the Serb crashing out of the Madrid Open on Wednesday after defeat to Britain's Kyle Edmund. Nadal's defence of his title began in comfortable fashion as he coasted to
Published 10 May, 2018 12:00am
Naya Nazimabad Ramazan Cup from May 14

Naya Nazimabad Ramazan Cup from May 14

Naya Nazimabad Ramazan Cup cricket fever will light up Ramazan in 2018 and people will get to see quality cricket marches through thrilling games. These thoughts were expressed by Samad Habib, CEO Javedan Corporation Limited & Naya Nazimabad while announc
Published 10 May, 2018 12:00am
West Brom relegated from Premier League

West Brom relegated from Premier League

West Brom were relegated from the Premier League on Tuesday following Southampton's 1-0 win over Swansea at the Liberty Stadium, joining Stoke in the Championship next season. Darren Moore's side needed a draw between the Saints and Swans in south Wales t
Published 10 May, 2018 12:00am
US producer prices rise slightly on weak hotel costs

US producer prices rise slightly on weak hotel costs

US producer prices barely rose in April after strong gains in the first quarter, held back by a moderation in the cost of services such as hotel accommodation and healthcare, which could ease fears that inflation pressures were rapidly building up.
Published 10 May, 2018 12:00am
Vodafone buys chunk of Liberty's European assets for 18.4 billion euros

Vodafone buys chunk of Liberty's European assets for 18.4 billion euros

British telecoms giant Vodafone on Wednesday unveiled an 18.4-billion-euro deal to buy part of Liberty Global's operations that will make it Europe's largest cable and broadband operator. The deal worth $21.9 billion will see Vodafone become the second bi
Published 10 May, 2018 12:00am
Walmart buys 77 percent of India's Flipkart for $16 billion

Walmart buys 77 percent of India's Flipkart for $16 billion

US retail behemoth Walmart said Wednesday it will buy a 77 percent stake in Indian online sales giant Flipkart for $16 billion in the world's biggest e-commerce deal. The blockbuster takeover, which is also Walmart's most expensive acquisition, threatens
Published 10 May, 2018 12:00am
Germany okays class-action suits before diesel deadline

Germany okays class-action suits before diesel deadline

The German government on Wednesday approved a draft law allowing US-style class action lawsuits, opening the door for drivers to seek compensation over Volkswagen's diesel emissions cheating scam before the case expires. Justice Minister Katarina Barley s
Published 10 May, 2018 12:00am
ING attracts more customers despite pay scandal

ING attracts more customers despite pay scandal

Dutch bank ING said Wednesday its net profits climbed at the start of the year as it continued to attract new customers, according to the first figures released since the lender was forced to back down on plans to double executive pay following a public o
Published 10 May, 2018 12:00am
US trade embargo has cost Cuba $130 billion: UN

US trade embargo has cost Cuba $130 billion: UN

A United Nations agency said on Tuesday an "unjust" US financial and trade embargo on Cuba had cost the country's economy $130 billion over nearly six decades, coming up with the same estimate as the island's communist government. Although many US allies
Published 10 May, 2018 12:00am
Germany's BMW expands UK car recall

Germany's BMW expands UK car recall

German car manufacturer BMW on Wednesday said it was expanding a British recall on faulty vehicles whose engines are at risk of suddenly cutting out. A company spokesman said 312,000 diesel and petrol cars are being recalled in Britain, having conducted s
Published 10 May, 2018 12:00am
Toyota posts record profit but warns on outlook

Toyota posts record profit but warns on outlook

Japanese car giant Toyota reported a record full-year net profit Wednesday thanks to a weaker yen and US tax cuts, but warned about the outlook for the next 12 months. Company president Akio Toyoda said the industry was facing "profound change" and pledge
Published 10 May, 2018 12:00am
Toyota posts record profit but warns on outlook

Toyota posts record profit but warns on outlook

Japanese car giant Toyota reported a record full-year net profit Wednesday thanks to a weaker yen and US tax cuts, but warned about the outlook for the next 12 months. Company president Akio Toyoda said the industry was facing "profound change" and pledge
Published 10 May, 2018 12:00am
Australia's biggest bank admits wrongdoing in rate-rigging case

Australia's biggest bank admits wrongdoing in rate-rigging case

Australia's biggest bank on Wednesday admitted to "unconscionable" behaviour and agreed to pay Aus$25 million (US$18.5 million) after a rate-rigging case was brought against it by the corporate watchdog. The Commonwealth Bank of Australia (CBA) has been e
Published 10 May, 2018 12:00am
Argentina Congress passes capital markets reform bill
Mutual Funds

Argentina Congress passes capital markets reform bill

Argentina's Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists
Published 10 May, 2018 12:00am
Argentina Congress passes capital markets reform bill
Mutual Funds

Argentina Congress passes capital markets reform bill

Argentina's Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists
Published 10 May, 2018 12:00am
Emirates airline profit more than doubles on cargo demand
Currency

Emirates airline profit more than doubles on cargo demand

Leading Middle East airline Emirates said on Wednesday its net profits had more than doubled last year, mainly on improved cargo business. The Dubai flagship carrier posted a 124 percent increase in net profit to $762 million (644 million euros) in the fi
Published 10 May, 2018 12:00am
Imperial Brands, oil surge lift FTSE 100

Imperial Brands, oil surge lift FTSE 100

Oil stocks drove Britain's leading stock index sharply higher on Wednesday after the US decision to pull out of the Iran nuclear deal sent crude prices soaring. The FTSE 100 index jumped 1.3 percent, easily beating other European bourses as commodities st
Published 10 May, 2018 12:00am
Most South East Asian stocks slip

Most South East Asian stocks slip

Most Southeast Asian stock markets fell on Wednesday in line with broader Asia, after oil prices sky-rocketed to an over 3-year high as President Donald Trump pulled the United States out of the Iran nuclear deal, while Indonesian shares surged.
Published 10 May, 2018 12:00am
Australian, New Zealand shares up

Australian, New Zealand shares up

Australian shares ended slightly higher on Wednesday, as gains across a number of sectors following an optimistic budget were offset by financials as the largest bank fell on a disappointing earnings report.
Published 10 May, 2018 12:00am
Oil rally drives European shares higher
Currency

Oil rally drives European shares higher

European shares were supported on Wednesday by strength in oil stocks after US President Donald Trump pulled the United States out of Iran's nuclear agreement, boosting crude prices. While some well-received earnings updates also provided support to the o
Published 10 May, 2018 12:00am
China stocks down

China stocks down

China stocks ended marginally lower on Wednesday as losses in financial and property shares outweighed gains in energy stocks. The blue-chip CSI300 index fell 0.2 percent to 3,871.62 while the Shanghai Composite Index dipped 0.1 percent to 3,159.15 points
Published 10 May, 2018 12:00am
Indian shares surge

Indian shares surge

Indian shares ended higher on Wednesday, led by IT stocks such as Tata Consultancy Services Ltd, as the technology index recovered to close 0.55 percent higher after losing 4.3 percent over the previous five sessions. The benchmark BSE index ended 0.29 pe
Published 10 May, 2018 12:00am
Sri Lankan stocks flat

Sri Lankan stocks flat

Sri Lankan shares ended little changed on Wednesday, at a near four-week low, as losses in shares of beverage companies outweighed gains in bank stocks even as many investors continued to stay on the sidelines looking for fresh cues.
Published 10 May, 2018 12:00am
US quits Iran deal drives yields down
Currency

US quits Iran deal drives yields down

US government bond yields across maturities fell on Tuesday as demand for the safe-haven investment increased following President Donald Trump's announcement that the country would withdraw from its nuclear deal with Iran. But the moves were relatively mu
Published 10 May, 2018 12:00am
Wall Street erases losses after Trump quits Iran deal

Wall Street erases losses after Trump quits Iran deal

Wall Street cut losses to end little changed on Tuesday while energy stocks rallied after US President Donald Trump said the United States would quit the Iran nuclear deal, confirming what many investors had expected. In a televised speech, Trump said the
Published 10 May, 2018 12:00am
Tokyo stocks lower

Tokyo stocks lower

Tokyo stocks closed lower on Wednesday as investors digested the impact of US President Donald Trump's withdrawal from the Iran nuclear deal and fast-moving diplomacy on North Korea. The benchmark Nikkei 225 index fell 0.44 percent, or 99.81 points, to 22
Published 10 May, 2018 12:00am
Hong Kong stocks rise

Hong Kong stocks rise

Hong Kong shares rose on Wednesday, led by energy stocks after US President Donald Trump pulled out of the Iran nuclear deal, sparking fears about global oil supplies, and pushing oil prices higher. The Hang Seng index rose 0.4 percent to 30,536.14, while
Published 10 May, 2018 12:00am
Saudi market hits three-week low as geopolitical tensions weigh

Saudi market hits three-week low as geopolitical tensions weigh

Saudi stocks closed at their lowest level in more than three weeks, while most other Gulf markets were weak, as geopolitical tensions weighed on the market. The Saudi index dropped 1.7 percent to 7878 points, its lowest level since April 15. Blue-chips Al
Published 10 May, 2018 12:00am
Aussie, kiwi hit new multi-month lows
Currency

Aussie, kiwi hit new multi-month lows

The Australian and New Zealand dollars hit fresh multi-month lows on Wednesday as the relative outperformance of the US economy sent its currency higher across the board. The Aussie dollar was huddled at $0.7435, having touched its lowest since last June
Published 10 May, 2018 12:00am
Sterling stays near four-month low
Currency

Sterling stays near four-month low

Sterling held near a four-month low on Wednesday before a Bank of England meeting where interest rates are expected to be left unchanged. Weak UK economic data and renewed worries about Brexit have hurt the pound in recent weeks and led markets to almost
Published 10 May, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 83.10-83.10 (Previous 83.10-83.10).
Published 10 May, 2018 12:00am
Asian currencies hit by rising oil prices

Asian currencies hit by rising oil prices

Asian currencies declined on Wednesday as sentiment was hit after US President Donald trump pulled the country out of an international nuclear deal with Iran, triggering a rally in oil prices in a negative sign for net oil importers in the region. Oil pri
Published 10 May, 2018 12:00am
Sri Lankan rupee down
Currency

Sri Lankan rupee down

The Sri Lankan rupee closed slightly weaker on Wednesday with the central bank selling dollars at 157.70 to 157.80 rupees per dollar to select banks to arrest further fall, dealers said. The rupee closed at 157.80/95 per dollar, compared with Tuesday's cl
Published 10 May, 2018 12:00am
Dollar remains at 2018 highs in NY
Currency

Dollar remains at 2018 highs in NY

The US dollar rose to its highest level this year against a basket of currencies on Tuesday due to worries about political turmoil in Italy before paring some gains on a US decision to withdraw from the international nuclear deal with Iran. The dollar's r
Published 10 May, 2018 12:00am
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