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Archive - 2018-05-15
State Bank sets Zakat Nisab at Rs 39,198
Top News

State Bank sets Zakat Nisab at Rs 39,198

ISLAMABAD: The State Bank of Pakistan has fixed the Nisab for Zakat deduction on Bank Account for the ongoing Islamic ye
Published 15 May, 2018 12:31pm
Twelve dead in political violence in east India

Twelve dead in political violence in east India

Twelve people were killed Monday in clashes between rival political groups vying for village council seats in eastern India, police said. Ballot boxes were set ablaze and gunshots fired in West Bengal state, which has a history of fractious politics and p
Published 15 May, 2018 12:00am
Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Finance Minister Dr Miftah Ismail is expected to announce reduction in duty one step down on 303 tariff lines in his budget wind-up speech in the National Assembly; well-informed sources the in Federal Board of Revenue (FBR) told Business Recorder Monday.
Published 15 May, 2018 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 04 May 2018.

Published 15 May, 2018 12:00am
Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Finance Minister Dr Miftah Ismail is expected to announce reduction in duty one step down on 303 tariff lines in his budget wind-up speech in the National Assembly; well-informed sources the in Federal Board of Revenue (FBR) told Business Recorder Monday.
Published 15 May, 2018 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 04 May 2018.

Published 15 May, 2018 12:00am
Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

Finance Minister Dr Miftah Ismail is expected to announce reduction in duty one step down on 303 tariff lines in his budget wind-up speech in the National Assembly; well-informed sources the in Federal Board of Revenue (FBR) told Business Recorder Monday.
Published 15 May, 2018 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Monday (May 14, 2018).

Published 15 May, 2018 12:00am
Hall leaves for US

Hall leaves for US

Colonel Joseph Emanuel Hall, defence attaché at the US Embassy, who is involved in killing a boy in a road accident, on Monday left the country following removal of his name from the blacklist.
Published 15 May, 2018 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (May 14, 2018).

Published 15 May, 2018 12:00am
Hall leaves for US

Hall leaves for US

Colonel Joseph Emanuel Hall, defence attaché at the US Embassy, who is involved in killing a boy in a road accident, on Monday left the country following removal of his name from the blacklist.
Published 15 May, 2018 12:00am
FBR will impose sales tax on 12 services

FBR will impose sales tax on 12 services

The Federal Board of Revenue (FBR) will impose sales tax on 12 services including corporate law consultants, public relation services and auction services within the jurisdiction of Islamabad Capital Territory from next fiscal year.
Published 15 May, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (May 14, 2018)

Published 15 May, 2018 12:00am
FBR will impose sales tax on 12 services

FBR will impose sales tax on 12 services

The Federal Board of Revenue (FBR) will impose sales tax on 12 services including corporate law consultants, public relation services and auction services within the jurisdiction of Islamabad Capital Territory from next fiscal year.
Published 15 May, 2018 12:00am
FBR will impose sales tax on 12 services

FBR will impose sales tax on 12 services

The Federal Board of Revenue (FBR) will impose sales tax on 12 services including corporate law consultants, public relation services and auction services within the jurisdiction of Islamabad Capital Territory from next fiscal year.
Published 15 May, 2018 12:00am
Matiari to Lahore: agreements signed on 600KV transmission line

Matiari to Lahore: agreements signed on 600KV transmission line

Prime Minister Shahid Khaqan Abbasi Monday witnessed signing of agreements between Power Division of Pakistan and State Grid Corporation of China, for construction of 878 kilometers 600 KV HVDC Bipole Transmission Line from Matiari to Lahore. The signing
Published 15 May, 2018 12:00am
Matiari to Lahore: agreements signed on 600KV transmission line

Matiari to Lahore: agreements signed on 600KV transmission line

Prime Minister Shahid Khaqan Abbasi Monday witnessed signing of agreements between Power Division of Pakistan and State Grid Corporation of China, for construction of 878 kilometers 600 KV HVDC Bipole Transmission Line from Matiari to Lahore. The signing
Published 15 May, 2018 12:00am
Matiari to Lahore: agreements signed on 600KV transmission line

Matiari to Lahore: agreements signed on 600KV transmission line

Prime Minister Shahid Khaqan Abbasi Monday witnessed signing of agreements between Power Division of Pakistan and State Grid Corporation of China, for construction of 878 kilometers 600 KV HVDC Bipole Transmission Line from Matiari to Lahore. The signing
Published 15 May, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (May 14, 2018).

Published 15 May, 2018 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 15 May, 2018 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 15 May, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 14, 2018).

Published 15 May, 2018 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 14, 2018).

Published 15 May, 2018 12:00am
WHO urges global ban on trans fats

WHO urges global ban on trans fats

The World Health Organization on Monday unveiled a new plan to eliminate the use of trans fats, calling for the gains made against the harmful acids in richer countries to be spread worldwide.
Published 15 May, 2018 12:00am
The Weather

The Weather

The weather report on Monday (May 14, 2018) and the forecast for Tuesday (May 15, 2018).

Published 15 May, 2018 12:00am
Indian police charge jeweller over bank fraud

Indian police charge jeweller over bank fraud

Indian investigators filed the first charges Monday in a huge fraud case involving billionaire jeweller Nirav Modi and the state-run Punjab National Bank, officials and reports said. A spokesman for the Central Bureau of Investigation (CBI) confirmed to A
Published 15 May, 2018 12:00am
Yawning gaps in the budget 2018-19

Yawning gaps in the budget 2018-19

According to a Business Recorder exclusive, the Miftah Ismail-led Finance Ministry has gone one step further than during the tenure of the Ishaq Dar-led Finance Ministry by projecting revenue sources that are not only baffling senior Finance Ministry offi
Published 15 May, 2018 12:00am
Loose talk

Loose talk

It is difficult to fathom what drove ousted prime minister Nawaz Sharif to make the irresponsible statement he made in a newspaper interview, embarrassing his party and providing the country's enemies with fuel to denigrate it. Referring to the Mumbai ter
Published 15 May, 2018 12:00am
The patriotism card

The patriotism card

"Patriotism is the last refuge of the scoundrel" - Samuel Johnson. Nothing exemplifies the role of the patriotism card in our national affairs better than the raging brouhaha about Nawaz Sharif's interview to Dawn in which he questioned Pakistan's increas
Published 15 May, 2018 12:00am
Fighting inequality in Asia and the Pacific

Fighting inequality in Asia and the Pacific

Inequality is increasing in Asia and the Pacific. Our region's remarkable economic success story belies a widening gap between rich and poor. A gap that's trapping people in poverty and, if not tackled urgently, could thwart our ambition to achieve sustai
Published 15 May, 2018 12:00am
Money Bill

Money Bill

Why have the lawmakers across the aisle in Senate have forged unity to demand voting powers of the House in the money bill as according to the Constitution, the money bill can only originate from the Lower House of the Parliament? What is more disturbing
Published 15 May, 2018 12:00am
Nisab fixed at Rs 39,198

Nisab fixed at Rs 39,198

The federal government has fixed Rs 39,198 Nisab for deduction of Zakat from the specific banks accounts. The Administrator General Zakat has notified the Nisab of Zakat for the Zakat year 1438-39 A.H. According to Ministry of Religious Affairs and Interf
Published 15 May, 2018 12:00am
PAT moves LHC against Nawaz

PAT moves LHC against Nawaz

Two political activists have approached the Lahore High Court against Nawaz Sharif for his recent media statement regarding the 2008 Mumbai attacks. Pakistan Awami Tehreek (PAT) General Secretary Khuram Nawaz Gandapur and Chairman Pakistan Zindabad Party
Published 15 May, 2018 12:00am
Polio eradication: WHO applauds Pakistan's progress

Polio eradication: WHO applauds Pakistan's progress

The World Health Organization (WHO) has observed that the immunity of the population against the crippling polio virus has increased considerably in Pakistan since 2016 while the challenges in reaching children remain the same.
Published 15 May, 2018 12:00am
19 'Ramazan Bazars' established in Faisalabad

19 'Ramazan Bazars' established in Faisalabad

As many as 19 Ramazan Bazars have been established in the district in order to provide essential commodities to the consumers on controlled and subsidized rates during the holy month of Ramazan. This was told by the Deputy Commissioner Salman Ghani while
Published 15 May, 2018 12:00am
Pak-German economic ties vital to industrial development: ambassador

Pak-German economic ties vital to industrial development: ambassador

While inaugurating the latest state of the art German machines installed by Roshan Packages in their Corrugation and Flexible Plants, the chief guest, Martin Kobler (German Ambassador in Pakistan) has stressed the need for improving and further strengthen
Published 15 May, 2018 12:00am
FPCCI demands to restore FTR option to commercial importers

FPCCI demands to restore FTR option to commercial importers

Senior Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged Federal Finance Minister Dr Miftah Ismail, and Chairman federal Board of Revenue (FBR) Tariq Mahmood Pasha to restore the Final Tax Regime (FTR) option to
Published 15 May, 2018 12:00am
Tevta to register 300 institutions this year: Chairman

Tevta to register 300 institutions this year: Chairman

Chairman Technical Education and Vocational Training Authority (TEVTA) Irfan Qaiser Sheikh has said that TEVTA will register 300 private, government and semi government institutions in current year.
Published 15 May, 2018 12:00am
BARD sponsoring young swimmer

BARD sponsoring young swimmer

Sports is a heavily under-enabled and under-promoted segment in Pakistan. Despite an abundance of talent, few opportunities being accessible to individuals results in lowering their number. One such sportsperson is young Pakistani swimmer Mishael Ayesha A
Published 15 May, 2018 12:00am
MoI working on central media list reforms: Marriyum

MoI working on central media list reforms: Marriyum

Ministry of Information is working on central media list reforms, streamlining the processes and updating the list to accommodate regional newspapers which are integral part of the media campaigns. Federal Minister for Information and Broadcasting, Marriy
Published 15 May, 2018 12:00am
UAF, NAB hold seminar on anti-corruption

UAF, NAB hold seminar on anti-corruption

Teachers, religious scholars, elders and other stakeholders must pay special attention to inculcate ethical and moral values among the people in order to wipe out corruption from our homeland, said University of Agriculture Faisalabad vice chancellor Dr M
Published 15 May, 2018 12:00am
HEC, P@SHA ink accord to train fresh computing graduates

HEC, P@SHA ink accord to train fresh computing graduates

The Higher Education Commission (HEC), Pakistan and Pakistan Software Houses Association (P@SHA) have agreed to conduct trainings for fresh computing graduates enabling them to acquire job opportunities in local and international market.
Published 15 May, 2018 12:00am
NIDO marks 'Mother's Day'

NIDO marks 'Mother's Day'

To spread love and respect for all mothers, NESTLÉ NIDO organized events, which marked the importance of the Mother-Child bond on Mother's Day. Mothers are the foundation of our success. Their unconditional love and support defines the way forward for our
Published 15 May, 2018 12:00am
First of Ramazan likely on Thursday

First of Ramazan likely on Thursday

It is expected that the month of Ramazan-ul-Mubarak will begin from Thursday this year. Secretary General Ruet-e-Hilal Research Council (RHRC) Khalid Ejaz Mufti said this while talking to APP here on Monday. He said that new moon could be sighted only if
Published 15 May, 2018 12:00am
Ahsan Iqbal discharged from hospital after nine days

Ahsan Iqbal discharged from hospital after nine days

Interior Minister Ahsan Iqbal was discharged on Monday from the Services Hospital after the medical board took a unanimous decision to this effect. Ahsan spent nine days at the Services Hospital. After coming out from his room and before leaving the hospi
Published 15 May, 2018 12:00am
PU, Chinese academy sign MoU for agriculture development

PU, Chinese academy sign MoU for agriculture development

Punjab University and Sanya Science and Technology Academy for Crop Winter Multiplication Hainan, China have signed a memorandum of understanding to promote cooperation and exchange on tropical agricultural science, modern agricultural technology, genetic
Published 15 May, 2018 12:00am
Naqeebullah killing case: ATC to frame charges against accused on May 19

Naqeebullah killing case: ATC to frame charges against accused on May 19

The anti-terrorism court (ATC) which is hearing the Naqeebullah Mehsud killing case will frame charges against the accused at the next hearing on May 19. Naqeebullah Mehsud, a 27-year-old native of Waziristan, was among three others who were accused of te
Published 15 May, 2018 12:00am
Efforts on declaring Khorasani as terrorist, NA told

Efforts on declaring Khorasani as terrorist, NA told

Minister for Foreign Affairs Khurram Dastagir Khan on Monday informed the Senate that the step taken by a country to block Pakistan's request at the UN Security Council Sanctions Committee to get a terrorist, Omar Khalid Khorasani, listed, is regrettable.
Published 15 May, 2018 12:00am
Dredging work: NAB letter quashed by SHC

Dredging work: NAB letter quashed by SHC

Sindh High Court (SHC) on Monday quashed the letter of National Accountability Bureau (NAB), which restrained Karachi Port Trust (KPT) to make payments to China International for undertaking dredging work in the port area.
Published 15 May, 2018 12:00am
LHC seeks reports on prisoners detained in Iran

LHC seeks reports on prisoners detained in Iran

The Lahore High Court on Monday sought reports from ministries of foreign affairs, interior, and overseas Pakistanis and human development within two weeks about statistics of Pakistani citizens detained in jails of Iran.
Published 15 May, 2018 12:00am
Mumbai attacks remarks: Siraj advises Nawaz to admit mistake

Mumbai attacks remarks: Siraj advises Nawaz to admit mistake

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has said that the Mumbai attacks issue had been raised by ousted Prime Minister Nawaz Sharif himself and the explanations he was giving now were creating more problems for him and his party. While addressing
Published 15 May, 2018 12:00am
Vietnam envoy, SCCI chief agree to enhance bilateral trade

Vietnam envoy, SCCI chief agree to enhance bilateral trade

The Ambassador of Vietnam to Pakistan Pham Hoang Kim on Monday visited Sialkot Chamber of Commerce and Industry(SCCI) to meet with the members for discussing issues pertaining to mutual interests and enhancing bilateral trade between Vietnam and Pakistan.
Published 15 May, 2018 12:00am
Celebrities attend DEFINE store opening festivities

Celebrities attend DEFINE store opening festivities

A new store of DEFINE opened the other night at Main Zamzama, Karachi. The event was attended by well-known socialites and famous celebrities. The event started with a full swing with guests taking pictures at the Media wall which was embedded with Red Ca
Published 15 May, 2018 12:00am
Letter to Nepra: JI for consumer-friendly KE tariff

Letter to Nepra: JI for consumer-friendly KE tariff

Jamaat-e-Islami (JI) Karachi chapter's chief Hafiz Naeemur Rehman has sent a letter to Nepra in which he presented recommendations regarding permission to K-Electric to add RLNG as an alternate fuel for its existing power plants. The KE has requested Nepr
Published 15 May, 2018 12:00am
'Fata should be opened to media, parliamentary bodies'

'Fata should be opened to media, parliamentary bodies'

On the one hand it is claimed that tribal areas have been cleared of militants and on the other it is treated as black hole, said former Senator Farhatllah Babar and asked why it is so. "This way we only played into the hands of those accusing Pakistan of
Published 15 May, 2018 12:00am
MCC Port Qasim recovers Rs 1.5 billion from Chinese company

MCC Port Qasim recovers Rs 1.5 billion from Chinese company

Model Customs Collectorate (MCC), Port Qasim (PQ) has made a biggest tax recovery of Rs 1.12 billion from a Chinese company, which was authorized to establish a coal terminal at PQ. Talking to Business Recorder, Abdur Rasheed Sheikh, chief collector, appr
Published 15 May, 2018 12:00am
'Patients of hypertension increasing rapidly'

'Patients of hypertension increasing rapidly'

Cardiologist and General Secretary of Pakistan Hyper-Tension League, Professor Mohammad Ishaq has said that the number of patients suffering from hypertension in Pakistan has been increasing rapidly nowadays.
Published 15 May, 2018 12:00am
SHC rejects Sharjeel Memon's bail plea

SHC rejects Sharjeel Memon's bail plea

The Sindh High Court on Monday rejected bail application submitted on medical grounds by Pakistan Peoples Party (PPP) leader Sharjeel Inam Memon in a case related to misappropriation in contracts for government advertisements. However, the bench accepted
Published 15 May, 2018 12:00am
Punjab Cabinet approves supplementary budget for FY 2017-18

Punjab Cabinet approves supplementary budget for FY 2017-18

The Punjab Cabinet, which met here Monday with chief minister Muhammad Shahbaz Sharif in the chair, accorded approval to supplementary budget and revised estimates for the financial year 2017-18. The meeting also approved revised annual development progra
Published 15 May, 2018 12:00am
Punjab Cabinet approves supplementary budget for FY 2017-18

Punjab Cabinet approves supplementary budget for FY 2017-18

The Punjab Cabinet, which met here Monday with chief minister Muhammad Shahbaz Sharif in the chair, accorded approval to supplementary budget and revised estimates for the financial year 2017-18. The meeting also approved revised annual development progra
Published 15 May, 2018 12:00am
400 candidates appear in MPhil/PhD test at ICCBS-UoK

400 candidates appear in MPhil/PhD test at ICCBS-UoK

About 400 candidates, seeking admissions to ICCBS MPhil and PhD Programme-2018, appeared in the entrance test held at the International Centre for Chemical and Biological Sciences (ICCBS), University of Karachi (UoK) on Sunday.
Published 15 May, 2018 12:00am
Bhikki power plant: Shahbaz reviews progress

Bhikki power plant: Shahbaz reviews progress

Punjab Chief Minister Muhammad Shahbaz Sharif chaired an important meeting here Monday, to review the progress on Bhikki power plant. Addressing the meeting, which was attended by the representatives of General Electric, Herban Electric, ACS (Energy), Sec
Published 15 May, 2018 12:00am
HEC approves Rs 1600 million project for SU

HEC approves Rs 1600 million project for SU

Higher Education commission Islamabad has approved the execution of the project of the University of Sindh. As per available details, a high-profile meeting of Central Development Working Party, Ministry of Planning and Development (CDWP) had been held on
Published 15 May, 2018 12:00am
Sindh Assembly condemns Nawaz's anti-Pakistan remarks

Sindh Assembly condemns Nawaz's anti-Pakistan remarks

Sindh Assembly on Monday adopted a condemnation resolution that has demanded that former prime minister Nawaz Sharif be made accountable for his 'anti-Pakistan' remarks in which he tried to implicate the country in Mumbai terror attack of 2008.
Published 15 May, 2018 12:00am
France has no concern over CPEC: envoy

France has no concern over CPEC: envoy

France has no concern over China-Pakistan Economic Corridor (CPEC) as it will help providing regional connectivity, said French ambassador.
Published 15 May, 2018 12:00am
Sale of BMW X1 surges to 350 units in 2017

Sale of BMW X1 surges to 350 units in 2017

Dewan Motors witnessed a phenomenal growth in sales during the year 2017 owing to the market acceptance of this newly introduced model and delivered around 350 units of the all-new BMW X1 to its customers during the year. Since its launch in September 201
Published 15 May, 2018 12:00am
SSGC wins 'Best Stall Award'

SSGC wins 'Best Stall Award'

Sui Southern Gas Company (SSGC) made a strong presence at the 16th Pakistan Oil and Gas Conference or POGEE, held at the Lahore expo centre from 10th to 12th May 2018. The Company had erected an aesthetically designed booth that showcased its key transmis
Published 15 May, 2018 12:00am
SSGC holds 'Istaqbal-e-Ramadan'

SSGC holds 'Istaqbal-e-Ramadan'

In keeping with a well-entrenched tradition, Sui Southern Gas Company (SSGC) organized an 'Istaqbal-e-Ramadan' program to mark the advent of one of the holiest months of the year. The program, held at the Company's Head Office auditorium on Monday, featur
Published 15 May, 2018 12:00am
K-IV water project: SWC seeks detailed report on realignments

K-IV water project: SWC seeks detailed report on realignments

Sindh Water Commission (SWC) on Monday sought a detailed report on realignments in K-IV water project in a week time after receiving complaints about the changes in design to deliberately benefit Baharia Town Karachi.
Published 15 May, 2018 12:00am
South Punjab: Engro Foods' BPRE project targets 9,000 individuals

South Punjab: Engro Foods' BPRE project targets 9,000 individuals

Engro Foods Limited is committed to foster growth of Pakistan's dairy industry through various developmental projects. Engro Foods along with Punjab Skill Development Fund (PSDF) started the Big Push for Rural Economy (BPRE) project since 2017.
Published 15 May, 2018 12:00am
EFP launches 'Economic Vision 2030'

EFP launches 'Economic Vision 2030'

Employers Federation of Pakistan (EFP) Monday launched 'Economic Vision 2030' to achieve a sustainable and required economic growth. Addressing a press conference here, Majyd Aziz, President EFP said that the prime activities of EFP include industrial rel
Published 15 May, 2018 12:00am
Treason allegations: opposition Senators demand trial of Nawaz

Treason allegations: opposition Senators demand trial of Nawaz

The opposition lawmakers in Senate, especially of Pakistan Tehreek-e-Insaf (PTI), on Monday lambasted former Prime Minister Nawaz Sharif for his controversial statement and demanded to try him under treason charges, terming the move violation of the Offic
Published 15 May, 2018 12:00am
Imran for high treason case against Nawaz

Imran for high treason case against Nawaz

Lashing out at the statement of PML-N Quaid Nawaz Sharif over the Mumbai attacks, Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan demanded registration of treason case against the former prime minister. Addressing a press conference here on Monday, Kha
Published 15 May, 2018 12:00am
Shah urges PM to brief Parliament about NSC decisions

Shah urges PM to brief Parliament about NSC decisions

Leader of Opposition in National Assembly Syed Khursheed Ahmed Shah has urged Prime Minster Shahid Khaqan Abbasi to brief the Parliament about the decisions taken at National Security Committee (NSC).
Published 15 May, 2018 12:00am
Traffic police fail to devise traffic control mechanism

Traffic police fail to devise traffic control mechanism

As the holy month of Ramadan is fast approaching in scorching weather, the traffic police seem to have failed to chalk out a foolproof mechanism to regulate flow of traffic in the metropolis. On Monday, the commuters faced severe hardships due to massive
Published 15 May, 2018 12:00am
Credit bureaus: SBP prescribes Rs 225m minimum paid-up capital

Credit bureaus: SBP prescribes Rs 225m minimum paid-up capital

The State Bank of Pakistan (SBP) has prescribed minimum paid-up capital of credit bureaus in private sector at Rs 225 million. According to SBP announcement, the honorable High Court of Sindh (SHC) in a petition CP No D-250 of 2017, declared the minimum p
Published 15 May, 2018 12:00am
Nawaz decided to speak truth onwards: Sanaullah

Nawaz decided to speak truth onwards: Sanaullah

While former prime minister Nawaz Sharif's statement regarding 2008 Mumbai attacks has caused a country-wide uproar, Punjab Law Minister Rana Sanaullah said on Monday that he has not unfolded any new thing rather he has said what in the best interest of t
Published 15 May, 2018 12:00am
'Illegal' import of used cars may go on
Currency

'Illegal' import of used cars may go on

The federal government is likely to continue with the prevalent mechanism allowing used vehicles import 'illegally' until new assembling plants are operational to meet domestic demand, well-informed sources told Business Recorder.
Published 15 May, 2018 12:00am
Name of caretaker: PM may be announced today

Name of caretaker: PM may be announced today

Prime Minister Shahid Khaqan Abbasi and Opposition Leader in the National Assembly Syed Khursheed Ahmed Shah have reached a consensus on the name of the caretaker prime minister and are likely to announce the name today (Tuesday). According to sources, th
Published 15 May, 2018 12:00am
Justice Khosa takes oath of acting CJP

Justice Khosa takes oath of acting CJP

Justice Asif Saeed Khan Khosa Monday took oath as acting Chief Justice of Pakistan. The oath was administered by Justice Gulzar Ahmed in a simple but dignified ceremony here at the Supreme Court. Justice Khosa will act as Chief Justice of Pakistan as long
Published 15 May, 2018 12:00am
NA pays tributes to late MNA Rajab Baloch

NA pays tributes to late MNA Rajab Baloch

The National Assembly on Monday adjourned the House after paying tributes to the departed soul of MNA Rajab Ali Khan Baloch. Pakistan Muslim League-Nawaz (PML-N) leader and parliamentary secretary in National Assembly, Rajab Ali Khan Baloch passed away on
Published 15 May, 2018 12:00am
Chilimjusht festival kicks off in Chitral

Chilimjusht festival kicks off in Chitral

The Chilimjusht festival kicked off simultaneously at the scenic Bamburate, Birir and Rumbur valleys in Chitral on Monday. The festival, which is also called Chilim Joshi, is a spring festival that is held every year in Kalash valleys. The festival will c
Published 15 May, 2018 12:00am
Rubina elected chairperson Senate body

Rubina elected chairperson Senate body

Senator Rubina Khalid has been elected as chairperson of Senate Standing Committees on Information Technology and Telecommunication (IT&T). The election was conducted according to Rule 184(1) of the Rules of Procedure and Conduct of Business in the Senate
Published 15 May, 2018 12:00am
Eight factories sealed over adulteration in Peshawar

Eight factories sealed over adulteration in Peshawar

Khyber Pakhtunkwha Food Safety and Halal Food Authority on Monday sealed eight factories over use of stale and rotten fruits and adulteration in Hayatabad Industrial Estate, as well as three fake spice units in Peshawar
Published 15 May, 2018 12:00am
Nawaz demands commission to probe into treason allegations

Nawaz demands commission to probe into treason allegations

Former prime minister and Pakistan Muslim League Nawaz (PML-N) supremo Nawaz Sharif on Monday demanded the constitution of a national commission to probe into allegations of treason. "Let the [would-be] commission decide who traitor is. Hang all those who
Published 15 May, 2018 12:00am
ADB, government agree on scaling-up PPPs

ADB, government agree on scaling-up PPPs

The Asian Development Bank (ADB) and the government of Pakistan agreed to chart new ways to pursue more robust and inclusive ADB investments in Pakistan by scaling-up public-private partnerships (PPPs) to tap the private sector resources and to meet the c
Published 15 May, 2018 12:00am
Ahli Steel Mills: Sharif family produced fake document, witness affirms

Ahli Steel Mills: Sharif family produced fake document, witness affirms

A key prosecution witness on Monday testified before the Accountability Court that as per the response of mutual legal assistance (MLA) request received from the UAE authority, the sale agreement of 25 percent shares of Ahli Steel Mills does not exist and
Published 15 May, 2018 12:00am
Atlas Battery Limited
Mutual Funds

Atlas Battery Limited

Atlas Battery (PSX: ATBA) is a major player in the auto parts industry and is in the business of manufacturing batteries for cars, motorcycles primarily using a variety of construction equipment and industrial applications in the country. The company was
Published 15 May, 2018 12:00am
Atlas Battery Limited
Mutual Funds

Atlas Battery Limited

Atlas Battery (PSX: ATBA) is a major player in the auto parts industry and is in the business of manufacturing batteries for cars, motorcycles primarily using a variety of construction equipment and industrial applications in the country. The company was
Published 15 May, 2018 12:00am
Receivables of power sector cross Rs 828.5 billion

Receivables of power sector cross Rs 828.5 billion

The country's power sector receivables have crossed Rs 828.5 billion as of March 31, 2018 compared to Rs 730 billion on June 30, 2017, showing an increase of over 13 per cent in nine months of the current fiscal year. The poor collections from Discos' con
Published 15 May, 2018 12:00am
Pakistan gives importance to relations with EU: Speaker

Pakistan gives importance to relations with EU: Speaker

Speaker National Assembly Sardar Ayaz Sadiq has said that Pakistan attaches high importance to its relations with European Union which are deep rooted in bonds of friendship, cooperation and mutual understanding on various issues. He was speaking to the A
Published 15 May, 2018 12:00am
MNAs to discuss Rs 23.7 trillion charge expenditure today

MNAs to discuss Rs 23.7 trillion charge expenditure today

Federal Minister for Finance Miftah Ismail would today (Tuesday) wind up general debate on Budget 2018-19 in the National Assembly and members of the House would discuss Rs 23.7 trillion charge expenditure included in demands for grants and appropriation
Published 15 May, 2018 12:00am
US MIDDAY: gold dips

US MIDDAY: gold dips

Gold slipped on Monday as the US dollar strengthened and precious metals prices remained within a tight range as investors awaited key US data. Spot gold lost 0.3 percent at $1,314.17 per ounce by 2:31 p.m. EDT (1831 GMT), erasing earlier gains after the
Published 15 May, 2018 12:00am
US MIDDAY: soya futures rebound

US MIDDAY: soya futures rebound

Chicago Board of Trade soyabean futures rose on Monday, bouncing back from their lowest in more than five weeks on a round of technical buying and signs that Chinese demand for export supplies was picking up, traders said. Wheat futures dropped, on track
Published 15 May, 2018 12:00am
Gold rises in Europe
Currency

Gold rises in Europe

Gold prices edged higher on Monday as the dollar retreated from a 2018 peak after subdued US inflation data last week highlighted the prospect of fewer US interest rate increases than previously expected this year. Spot gold was up 0.2 percent at $1,320.8
Published 15 May, 2018 12:00am
Gold surges in Asia

Gold surges in Asia

Gold prices rose on Monday on the back of a subdued dollar as investors considered the prospects of fewer interest rate hikes in the United States this year. Spot gold was up 0.2 percent at $1,320.80 per ounce as of 0643 GMT, after marking the highest sin
Published 15 May, 2018 12:00am
Arabica coffee at three-week low, cocoa drops
Currency

Arabica coffee at three-week low, cocoa drops

Arabica coffee futures fell to a three-week low on Monday after data showed speculators had already covered more short positions than expected, while cocoa prices gave up the prior session's gains in seesaw dealings. July arabica coffee settled down 1.8 c
Published 15 May, 2018 12:00am
Palm oil jumps to highest in over four months
Vegetable Oil

Palm oil jumps to highest in over four months

Malaysian palm oil futures rose 3 percent on Monday, their biggest intraday gain in more than four months, buoyed by early losses in the ringgit and lower than forecast end-stocks data from an industry regulator. A weaker ringgit, palm's currency of trade
Published 15 May, 2018 12:00am
Rubber declines

Rubber declines

Benchmark Tokyo rubber futures fell marginally on Monday, tracking Shanghai futures, and hurt by higher inventories. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, had been supported by the yen's decline,
Published 15 May, 2018 12:00am
Oil gains on Opec report; US crude discount to Brent deepens

Oil gains on Opec report; US crude discount to Brent deepens

Oil prices rose on Monday as Opec reported that the global oil glut has been virtually eliminated, while US crude's discount to global benchmark Brent widened to more than $7, its deepest in five months. Global benchmark Brent was up $1.05 at $78.17 a bar
Published 15 May, 2018 12:00am
Saudi Aramco trading arm ATC sells first US oil to UAE

Saudi Aramco trading arm ATC sells first US oil to UAE

Saudi oil producer Aramco's trading arm has begun supplying US condensate, an ultra-light crude oil, to the United Arab Emirates (UAE), four people with direct knowledge of the matter said on Monday, underlining the giant firm's global ambitions.
Published 15 May, 2018 12:00am
Tight supplies lift lead from nine-month lows, copper slips

Tight supplies lift lead from nine-month lows, copper slips

An increase in copper stockpiles on Monday pushed down prices of the metal used in power and construction, while lead continued to rise from nine-month lows on fears of tight supply. Benchmark lead on the London Metal Exchange closed 1.7 percent higher at
Published 15 May, 2018 12:00am
Iran FM in Moscow as Russia moves to save nuclear deal

Iran FM in Moscow as Russia moves to save nuclear deal

Iran's foreign minister said on a visit to Moscow Monday he was seeking "assurances" from the backers of the country's nuclear deal after the United States pulled out. Russia is trying to keep the landmark 2015 accord alive in the wake of US President Don
Published 15 May, 2018 12:00am
Indian politician charged over wife's death

Indian politician charged over wife's death

A charismatic Indian opposition figure and former top UN official was charged Monday over the death of his wife, reigniting a mystery that shook the country's establishment. Shashi Tharoor, 62, is accused of cruelty toward his wife Sunanda Pushkar and abe
Published 15 May, 2018 12:00am
China plane makes emergency landing

China plane makes emergency landing

A plane carrying 128 people made an emergency landing in southwest China on Monday after a cockpit window broke at 32,000 feet, sucking the co-pilot partly out of the aircraft, authorities and the pilot said. The Airbus A319 of Sichuan Airlines was bound
Published 15 May, 2018 12:00am
Fiery cleric, paramilitary leader surge at Iraq elections

Fiery cleric, paramilitary leader surge at Iraq elections

An alliance headed by nationalist cleric Moqtada Sadr and a rival bloc of pro-Iranian former fighters appeared to surge Monday in surprise preliminary results from Iraq's first poll since the defeat of the Islamic State group. If confirmed, the outcome wo
Published 15 May, 2018 12:00am
Violent storms in India kill at least 86

Violent storms in India kill at least 86

Indian authorities said Monday at least 86 people have been killed and over 100 injured in a fresh wave of violent sandstorms and thunderstorms that battered vast swathes of the country. Winds of over 100 kilometres (60 miles) per hour struck parts of nor
Published 15 May, 2018 12:00am
US-backed fighters advance against IS in east Syria

US-backed fighters advance against IS in east Syria

US-backed fighters were advancing on Monday against Islamic State group jihadists hiding out in a small sliver of desert in eastern Syria, the force and a monitor said. The Syrian Democratic Forces, an alliance of Kurdish and Arab fighters, has been beari
Published 15 May, 2018 12:00am
Two Chinese among 19 killed in northern Myanmar

Two Chinese among 19 killed in northern Myanmar

Two Chinese nationals were among 19 people killed in northern Myanmar on Saturday when ethnic rebels attacked security force posts and a casino in an area bordering China, the foreign ministry said. Several rockets and stray bullets fell on Chinese territ
Published 15 May, 2018 12:00am
UK and France 'determined' to save Iran deal

UK and France 'determined' to save Iran deal

France and Britain on Monday said they were "determined" to save the Iranian nuclear deal, despite the United States pulling out last week. Speaking during a visit to London, French Foreign Minister Jean-Yves Le Drian also condemned as "intolerable" comme
Published 15 May, 2018 12:00am
Facebook suspends 200 apps over data misuse

Facebook suspends 200 apps over data misuse

Facebook said Monday it has suspended "around 200" apps on its platform as part of an investigation into misuse of private user data. The investigation was launched after revelations that political consulting firm Cambridge Analytica hijacked data on some
Published 15 May, 2018 12:00am
EU sanctions five people over Russian election in Crimea

EU sanctions five people over Russian election in Crimea

The European Union on Monday slapped sanctions on five senior election officials in Crimea over their role in organising Russia's presidential vote in the peninsula, annexed by Moscow in 2014. The five, all senior members of the Crimea Electoral Commissio
Published 15 May, 2018 12:00am
Qatar pledges support for Somalia

Qatar pledges support for Somalia

Qatar's Emir held talks on Monday with the Somali president in Doha and pledged support for the East African country, amid tensions between the two countries and the UAE. Sheikh Tamim bin Hamad Al-Thani said that the relationship between Qatar and Somalia
Published 15 May, 2018 12:00am
'Flagrant' Kremlin breaches international rules: UK intel chief

'Flagrant' Kremlin breaches international rules: UK intel chief

Russia is committing "flagrant breaches of international rules", the head of Britain's security service will claim Monday in which he will also stress the importance of post-Brexit security ties. MI5 chief Andrew Parker will say in a landmark speech in Be
Published 15 May, 2018 12:00am
Two families staged Indonesian suicide bombings

Two families staged Indonesian suicide bombings

A family of five, including a child, carried out the suicide bombing of a police headquarters in Indonesia's second city Surabaya on Monday, police said, a day after a deadly wave of attacks on churches staged by another family. The spate of bombings has
Published 15 May, 2018 12:00am
New evidence for water plumes on Jupiter's moon, Europa

New evidence for water plumes on Jupiter's moon, Europa

Scientists presented further evidence Monday for water plumes on the surface of Jupiter's moon Europa, raising hopes of probing the jets for signs of life around the second planet from Earth. Europa's frozen surface has long been thought to cover a salty
Published 15 May, 2018 12:00am
Neymar wins French player of the year prize, rejects transfer talk

Neymar wins French player of the year prize, rejects transfer talk

Neymar was named as France's player of the year at an awards ceremony in Paris on Sunday, and later brushed away questions over his future. The Paris Saint-Germain superstar took the prize despite missing the last three months of the season due to injury.
Published 15 May, 2018 12:00am
Neymar headlines Brazil's World Cup team

Neymar headlines Brazil's World Cup team

Striker Neymar, who hasn't played a game since breaking his foot in February, was named Monday as the star of the Brazilian national team which will seek a record sixth World Cup out in Russia. Coach Tite announced the team list at a press conference in R
Published 15 May, 2018 12:00am
US Supreme Court strikes down federal ban on sports gambling

US Supreme Court strikes down federal ban on sports gambling

The US Supreme Court on Monday paved the way for states to legalize gambling on baseball, basketball, American football and other sports - a business worth tens of billions of dollars annually. The nation's top court ruled 6-3 in favour of New Jersey, the
Published 15 May, 2018 12:00am
Barcelona's unbeaten season ended by five-star Levante

Barcelona's unbeaten season ended by five-star Levante

Philippe Coutinho hit a hat-trick but could not save Barcelona's unbeaten season as the Catalans were left stunned by an extraordinary 5-4 defeat to Levante on Sunday. Ernesto Valverde rested Lionel Messi for his team's penultimate match of the campaign b
Published 15 May, 2018 12:00am
Ireland avoid innings defeat

Ireland avoid innings defeat

Kevin O'Brien became the first Ireland batsman to score a fifty in men's Test cricket as the debutants avoided an innings defeat by Pakistan on Monday. Ireland, made to follow-on, were 212 for six at tea on the fourth day at Malahide - a lead of 32 runs.
Published 15 May, 2018 12:00am
O'Brien scores Ireland's first Test hundred

O'Brien scores Ireland's first Test hundred

Kevin O'Brien scored Ireland's first Test hundred when he reached three figures against Pakistan on the fourth day of their inaugural match at this level at Malahide on Monday. A two off left-arm quick Mohammad Amir saw O'Brien to his hundred in 186 balls
Published 15 May, 2018 12:00am
Australian breaks record with Everest summit

Australian breaks record with Everest summit

An Australian climber reached the top of Mount Everest Monday, becoming the fastest person to summit the highest mountain on each of the world's seven continents. Steve Plain conquered Everest 117 days after he reached the peak of Mount Vinson - the highe
Published 15 May, 2018 12:00am
Futsal League launched

Futsal League launched

Nestle Milo recently launched Futsal League in partnership with Football Club Barcelona (BARCA). The fixture saw massive school participation from across Karachi, Lahore and Islamabad with 200 Futsal teams competing against each other. The last leg of the
Published 15 May, 2018 12:00am
Iran World Cup squad includes stars banned for Israel match

Iran World Cup squad includes stars banned for Israel match

Iran announced its squad for the 2018 World Cup late Sunday, with two midfield stars making the cut despite being banned last year for playing against an Israeli team Masoud Shojaei and Ehsan Haji Safi were among the 35 players announced by Iran's Footbal
Published 15 May, 2018 12:00am
Djokovic blasts into Rome second round

Djokovic blasts into Rome second round

Novak Djokovic got off to a winning start in his bid for a fifth ATP Italian Open title on Monday with a straight sets win over Ukraine's Alexandr Dolgopolov. The 11th-seeded Serb, who has reached eight of the last ten finals in Rome and won four - took 5
Published 15 May, 2018 12:00am
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