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Apr 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-05-28
Daily trading report of PMEX

Daily trading report of PMEX

On Tuesday at Pakistan Mercantile Exchange (PMEX) the value traded was reported at PKR 1,839 million. Number of lots traded was registered at 7,551 and PMEX Commodity Index closed at 3,029. Major business was contributed by gold amounting to PKR 1,456 mil
Published 28 May, 2014 12:00am
Asian naphtha crack mostly flat

Asian naphtha crack mostly flat

The Asian naphtha crack was mostly flat at $152.95 a tonne on Tuesday as some traders focussed on steady petrochemical demand rather than on the reduction of supply from Europe as shipments go to West Africa for making gasoline. Naphtha can be reformed in
Published 28 May, 2014 12:00am
Vietnam's May coffee exports drop

Vietnam's May coffee exports drop

Vietnam, the world's top robusta producer, would export an estimated 170,000 tonnes (2.83 million bags) of coffee in May, a fall of 19.4 percent from a month ago, the government said on Tuesday, the same as market expectations. April coffee exports were r
Published 28 May, 2014 12:00am
Chicago wheat slides to near three-month low

Chicago wheat slides to near three-month low

Chicago wheat fell 1.7 percent on Tuesday to its lowest since early March, with easing tensions in key supplier Ukraine and rains in parts of the US Plains boosting prospects for global supply. Corn slid, for the first time in four sessions, to its lowest
Published 28 May, 2014 12:00am
China's state soya sale stays high

China's state soya sale stays high

China's government sold 81.5 percent of the Soyabeans offered at a weekly state auction on Tuesday, with volumes slightly up from the previous week, as Beijing's stockpiling tightened supplies in the inland provinces. The government sold 244,116 tonnes of
Published 28 May, 2014 12:00am
Favourable weather boosts EU maize crop outlook

Favourable weather boosts EU maize crop outlook

Favourable weather has raised expectations of a larger European Union maize (corn) crop this summer, which would reduce EU dependence on imports of the key animal feed at a time of political crisis in major maize supplier Ukraine. A mixture of rain and su
Published 28 May, 2014 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 92,096 tonnes of cargo comprising 66,590 tonnes of import cargo and 25,506 tonnes of export cargo including 4,798 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 66,5
Published 28 May, 2014 12:00am
Ginners reluctant to make deals on hopes of further price increase

Ginners reluctant to make deals on hopes of further price increase

Ginners with depleted stock not in a hurry to part their ways with their cotton stock in anticipation of getting higher prices, dealers said on the cotton market on Tuesday. The official spot rate held the overnight level at Rs 6,950, they added. In the r
Published 28 May, 2014 12:00am
Grain market closed for local holiday

Grain market closed for local holiday

According to the press release of the Karachi Grain and Seeds Merchant Group, rates showed no change on the wholesale commodity and oilseeds market as markets were closed on Tuesday on account of Shab-e-Meraj.
Published 28 May, 2014 12:00am
Vietnamese farmers hold coffee beans as prices fall

Vietnamese farmers hold coffee beans as prices fall

Vietnamese coffee farmers are slowing down sales as prices fall amid slow demand, in hopes that prices recover back above the 40,000 dong per kg level, traders said on Tuesday. Farmers in the world's largest robusta producer are holding onto stocks from t
Published 28 May, 2014 12:00am
Japan's foreign assets hit record $3.2 trillion

Japan's foreign assets hit record $3.2 trillion

Japan's net external assets rose to a record 325 trillion yen ($3.2 trillion) as of the end of last year as a weak yen boosted the value of overseas holdings, making the country the world's biggest creditor nation for 23 years in a row, the finance minist
Published 28 May, 2014 12:00am
Eurozone's Dijsselbloem says taxes on labour too high

Eurozone's Dijsselbloem says taxes on labour too high

The chairman of the Eurogroup of euro zone finance ministers Jeroen Dijsselbloem said on Tuesday the euro zone must "jointly reform" and added that high taxes on labour are an obstacle to growth. Speaking in Berlin, Dijsselbloem said that national tax cut
Published 28 May, 2014 12:00am
France to 'roll out red carpet' to British investors

France to 'roll out red carpet' to British investors

France is ready to "roll out the red carpet" to British investors if Britain opted to leave the EU, French Economy Minister Arnaud Montebourg said Tuesday, after eurosceptic party UKIP topped the poll in European elections in Britain. "If they were to vot
Published 28 May, 2014 12:00am
Scotland demands fair asset share as battle for UK's riches heats up

Scotland demands fair asset share as battle for UK's riches heats up

Scotland has rebutted claims from the UK that a vote for independence will be punitively expensive, stressing the economy's strength and demanding its fair share of assets in the event of a break-up of the union. Scotland is calling for its share of 1.3 t
Published 28 May, 2014 12:00am
Scotland demands fair asset share as battle for UK's riches heats up

Scotland demands fair asset share as battle for UK's riches heats up

Scotland has rebutted claims from the UK that a vote for independence will be punitively expensive, stressing the economy's strength and demanding its fair share of assets in the event of a break-up of the union. Scotland is calling for its share of 1.3 t
Published 28 May, 2014 12:00am
UK banks lend fewest mortgages in eight months

UK banks lend fewest mortgages in eight months

Britain's banks last month approved the lowest number of mortgages since August 2013 in the latest sign that the housing market is losing some momentum, although prices remain strong. Economic recovery and record-low interest rates have driven British hou
Published 28 May, 2014 12:00am
UK banks lend fewest mortgages in eight months

UK banks lend fewest mortgages in eight months

Britain's banks last month approved the lowest number of mortgages since August 2013 in the latest sign that the housing market is losing some momentum, although prices remain strong. Economic recovery and record-low interest rates have driven British hou
Published 28 May, 2014 12:00am
Platinum strike pushes South Africa towards recession

Platinum strike pushes South Africa towards recession

South Africa's economy shrank in the first quarter of this year, the first quarterly contraction since a recession five years ago, as mining output plummeted due to a protracted strike in the platinum sector. The economic decline presents a challenge for
Published 28 May, 2014 12:00am
Platinum strike pushes South Africa towards recession

Platinum strike pushes South Africa towards recession

South Africa's economy shrank in the first quarter of this year, the first quarterly contraction since a recession five years ago, as mining output plummeted due to a protracted strike in the platinum sector. The economic decline presents a challenge for
Published 28 May, 2014 12:00am
Dubai airport passenger traffic up

Dubai airport passenger traffic up

Passenger traffic through Dubai's main airport, one of the world's busiest, rose 13.7 percent from a year earlier to 6.16 million people in April, the airport operator said on Tuesday. During the first four months of 2014, traffic at Dubai International A
Published 28 May, 2014 12:00am
Lagarde warns on slow pace of financial sector reform
Libor

Lagarde warns on slow pace of financial sector reform

Progress to overhaul the global banking sector and prevent another financial crisis has been "too slow", International Monetary Fund chief Christine Lagarde warned here on Tuesday. "The good news is that the international community has made progress on th
Published 28 May, 2014 12:00am
India's new finance minister Jaitley targets growth revival

India's new finance minister Jaitley targets growth revival

India's new finance minister Arun Jaitley said restoring growth and containing inflation are the key challenges facing the country's government, shortly after being handed the critical portfolio on Tuesday. Jaitley, a top corporate lawyer, said the govern
Published 28 May, 2014 12:00am
US factory, confidence data boost growth prospects

US factory, confidence data boost growth prospects

Orders for long-lasting US manufactured goods unexpectedly rose in April and consumer confidence perked up in May, supporting views of a rebound in economic growth. Other data on Tuesday showed home prices moving higher in March and services industries, w
Published 28 May, 2014 12:00am
UAE, Qatar bourses outperform again as MSCI upgrade approaches

UAE, Qatar bourses outperform again as MSCI upgrade approaches

Stock markets in the United Arab Emirates and Qatar outperformed the region once again on Tuesday because of the approach of MSCI's upgrade of those markets, even though many institutions believe many shares are now richly valued. Dubai's main index climb
Published 28 May, 2014 12:00am
Indian shares falter; investors wait for Modi to deliver

Indian shares falter; investors wait for Modi to deliver

India's NSE index fell for a second consecutive session as investors continued to book profits in recent outperformers such as State Bank of India while they wait for actual policies from Prime Minister Narendra Modi and his new cabinet. Arun Jaitley, who
Published 28 May, 2014 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo stocks rose 0.23 percent on Tuesday to their highest close in nearly two months, as the weaker yen boosted exporters in thin trading. The benchmark Nikkei 225 index added 34.00 points to finish at 14,636.52, the highest finish since April 7, while t
Published 28 May, 2014 12:00am
South Africa stocks slip as gloomy GDP data weighs

South Africa stocks slip as gloomy GDP data weighs

South African stocks snapped six straight sessions of gains on Tuesday, declining 0.33 percent after data showed a massive platinum strike had tipped the economy to the verge of a recession. Packaging firm Nampak shed 3.6 percent to 35.80 rand after it ca
Published 28 May, 2014 12:00am
Southeast Asian markets: Thai shares snap losing streak

Southeast Asian markets: Thai shares snap losing streak

Thai shares rose on Tuesday as new military rulers have started to tackle economic problems, boosting consumer and construction stocks such as CP All and Italian Thai Development, while others in Southeast Asia were little changed. Thailand's key SET inde
Published 28 May, 2014 12:00am
China, Hong Kong shares down

China, Hong Kong shares down

China shares slipped on Tuesday, as there was a lack of catalysts to spur buying and recent signals from Beijing on policy fine-tuning to support economic growth failed to improve appetites for risk. The Shanghai Composite Index was off 0.3 percent at 2,0
Published 28 May, 2014 12:00am
European equities set new highs; leisure shares help

European equities set new highs; leisure shares help

European shares rose to multi-year highs on Tuesday, bolstered by US economic data, mergers and acquisitions talk and expectations of more policy easing by the European Central Bank. New economic numbers showed orders for long-lasting US manufactured good
Published 28 May, 2014 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.18 percent in early trade on Tuesday, led by local wireless operator Asia Pacific Telecom Co Ltd, which announced it would sell a stake and eventually merge with a unit of Apple Inc supplier Hon Hai Precision Industry Co Ltd. As of 02
Published 28 May, 2014 12:00am
Australian shares flat

Australian shares flat

Australian shares finished a choppy session flat on Tuesday with the broader market bolstered by a modest recovery among resource stocks, though Suncorp Group weighed on the index after a A$500 million writedown caused its shares to fall sharply. Suncorp
Published 28 May, 2014 12:00am
FTSE lifted by gains in ARM and hotel group IHG

FTSE lifted by gains in ARM and hotel group IHG

Britain's main equity index climbed on Tuesday, lifted by gains in chip designer ARM and InterContinental Hotels Group (IHG), which pushed the market back to within reach of its record high. The blue-chip FTSE 100 index closed up 29.19 points, or 0.4 perc
Published 28 May, 2014 12:00am
UK mortgage lending data halts sterling in its tracks

UK mortgage lending data halts sterling in its tracks

Sterling weakened against the dollar on Tuesday after a fall in British mortgage lending gave investors an excuse to cash in on the pound's recent gains a day after US drug company Pfizer abandoned its attempt to buy Britain's AstraZeneca. Data from the B
Published 28 May, 2014 12:00am
UK mortgage lending data halts sterling in its tracks

UK mortgage lending data halts sterling in its tracks

Sterling weakened against the dollar on Tuesday after a fall in British mortgage lending gave investors an excuse to cash in on the pound's recent gains a day after US drug company Pfizer abandoned its attempt to buy Britain's AstraZeneca. Data from the B
Published 28 May, 2014 12:00am
Rupee leads Asian FX slide

Rupee leads Asian FX slide

The Indian rupee led losses among emerging Asian currencies on Tuesday as investors took profits amid weaker regional stocks even though the European Central Bank chief Mario Draghi increased expectations of more monetary policy easing. "Such a stance is
Published 28 May, 2014 12:00am
Indian rupee sees worst fall in over two months

Indian rupee sees worst fall in over two months

The Indian rupee posted its biggest single-day fall in more than two months on Tuesday, dropping for a third straight session, weighed down by continued profit-taking in domestic shares and month-end dollar demand from importers. After Narendra Modi was s
Published 28 May, 2014 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.63-77.6325 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).
Published 28 May, 2014 12:00am
Euro springs back in Asia

Euro springs back in Asia

The euro bounced back from a three-month low against the dollar on Tuesday, but the uptick failed to relieve persistent pressure from expectations of monetary easing by the European Central Bank next week. The common currency climbed to $1.3656, from Mond
Published 28 May, 2014 12:00am
Early trade in New York: Euro edges down versus dollar

Early trade in New York: Euro edges down versus dollar

The euro softened slightly against the dollar and yen on Tuesday after stronger US economic data and uncertainty persisted over possible European Central Bank monetary policy action next month. The euro steadily lost ground on the greenback as investors i
Published 28 May, 2014 12:00am
Sterling retreats in London, eyes on US data

Sterling retreats in London, eyes on US data

Sterling sank as much as 0.4 percent against the dollar and euro on Tuesday after weak lending data added to concerns over a European election win for the anti-EU UKIP party. Dealers said the pound, little traded during a UK and US holiday on Monday, was
Published 28 May, 2014 12:00am
Australian and New Zealand dollar up

Australian and New Zealand dollar up

The Australian and New Zealand dollars rose to one-week highs against the yen on Tuesday with gains in the Nikkei sapping demand for the safe-haven Japanese currency. In turn, that gave the Antipodeans a bit of a bid against the US dollar, providing much-
Published 28 May, 2014 12:00am
Tottenham name manager

Tottenham name manager

Argentine Mauricio Pochettino was appointed Tottenham Hotspur head coach on a five-year contract on Tuesday after leaving Premier League rivals Southampton where he has been in charge since January last year. The London club announced in a statement that
Published 28 May, 2014 12:00am
Cameroon plunged into World Cup bonus dispute

Cameroon plunged into World Cup bonus dispute

Samuel Eto'o and Cameroon's other World Cup stars are locked in a battle with their federation over bonuses for the tournament, press reports said. The African team, who will be playing in their seventh finals in Brazil, beat Macedonia 2-0 in a warm-up ma
Published 28 May, 2014 12:00am
Mexico icon Blanco to play in tribute game

Mexico icon Blanco to play in tribute game

Mexico's iconic forward Cuauhtemoc Blanco will suit up one last time for his national squad Wednesday in a World Cup warm-up against Israel doubling as a tribute game. Mexico manager Miguel Herrera said Monday that the 41-year-old veteran, who played in t
Published 28 May, 2014 12:00am
Li, heartbroken Wozniacki stunned at French Open

Li, heartbroken Wozniacki stunned at French Open

Former champion Li Na, the second-seeded Chinese superstar and Australian Open winner, was sensationally dumped out of the French Open in the first round Tuesday, beaten by a tearful Kristina Mladenovic. Li, the 2011 champion, went down 7-5, 3-6, 6-1 to t
Published 28 May, 2014 12:00am
Younis Khan wants World Cup call-up

Younis Khan wants World Cup call-up

Pakistan batsman Younis Khan said Tuesday he hopes to revive his one-day career in time for next year's World Cup. The 36-year old has been out of the one-day side since March last year following a run of wretched form, with the last of his six hundreds c
Published 28 May, 2014 12:00am
National tennis ball cricket tournament from June 2

National tennis ball cricket tournament from June 2

National floodlight tennis ball cricket champion trophy 2014 will be held from June 02 to June 05 in Islamabad. The decision was taken in a meeting headed by Munawar Mughal, President of the Tennis Ball Cricket Federation of Pakistan (TBCFP). The event wo
Published 28 May, 2014 12:00am
Croatian court orders UEFA to pay referee 100,000-euro damages

Croatian court orders UEFA to pay referee 100,000-euro damages

A Croatian court on Tuesday ruled that UEFA should pay a local referee some 100,000 euros ($136,000) in damages after unfounded accusations of match-fixing. Referee Bruno Maric pressed charges against European football's governing body last year. He sough
Published 28 May, 2014 12:00am
AFC Challenge Cup: Maldives warned over 'ticket fraud' probe

AFC Challenge Cup: Maldives warned over 'ticket fraud' probe

Asia's football body has warned the Maldives risks being suspended from international competition after anti-corruption investigators launched a probe into alleged ticket fraud at the AFC Challenge Cup. The Asian Football Confederation (AFC) said the Mald
Published 28 May, 2014 12:00am
US seeks light on shadowy online data collection

US seeks light on shadowy online data collection

US regulators called Tuesday for more transparency from data brokers, citing potential for abuse in a rapidly growing industry that buys and sells information on people's Internet and offline activities. A study by the US Federal Trade Commission said the
Published 28 May, 2014 12:00am
Iran to West: resist outside pressure in nuclear talks

Iran to West: resist outside pressure in nuclear talks

Iran urged western powers Tuesday to resist any pressure from third parties not directly involved in negotiations over its nuclear activities, in a clear reference to Israeli-led influence. Foreign Minister Mohammad Javad Zarif, quoted by the official IRN
Published 28 May, 2014 12:00am
Vietnam accuses Chinese ship of sinking fishing boat

Vietnam accuses Chinese ship of sinking fishing boat

Vietnam on Tuesday accused a Chinese ship of ramming and sinking one of its fishing boats, fanning territorial tensions over Beijing's deployment of an oil rig in contested waters. The incident, which China's rival Japan described as "extremely dangerous"
Published 28 May, 2014 12:00am
EU 'too big, too bossy', says Cameron at vote postmortem

EU 'too big, too bossy', says Cameron at vote postmortem

EU leaders wrestled Tuesday for a joint response to a dismal European vote that saw dramatic gains by radical anti-establishment parties, with Britain, Germany and France calling for EU reforms. The anti-EU surge shows the European Union has got "too big
Published 28 May, 2014 12:00am
Iran summons Facebook's Zuckerberg

Iran summons Facebook's Zuckerberg

An Iranian judge has summoned Facebook co-founder and chief executive Mark Zuckerberg to answer allegations that his company's apps have breached people's privacy, it was reported Tuesday. A series of rows over Internet access have in recent months unders
Published 28 May, 2014 12:00am
Science not only for men, says Obama

Science not only for men, says Obama

US President Barack Obama on Tuesday launched a push to get girls interested in science and technology, warning the country would miss out if it did not attract women to those fields. "There's so much talent to be tapped if we're working together," Obama
Published 28 May, 2014 12:00am
At least 31 Nigerian security personnel killed

At least 31 Nigerian security personnel killed

Boko Haram gunmen attacked a Nigerian military base and adjacent police barracks simultaneously in the north-eastern town of Buni Yadi, killing at least 31 security personnel, security sources and witnesses said. The attack late on Monday in Yobe state oc
Published 28 May, 2014 12:00am
US hacker-FBI informant walks free

US hacker-FBI informant walks free

A hacker who directed hundreds of cyber attacks on corporations and foreign governments before turning FBI informant walked free Tuesday after being handed a symbolic seven-month sentence. Hector Xavier Monsegur, better known by his screen name "Sabu", wa
Published 28 May, 2014 12:00am
Assad's staying power leaves Turkey frustrated and exposed

Assad's staying power leaves Turkey frustrated and exposed

Syrian President Bashar al-Assad's certain victory in an election next month, derided internationally as a charade, leaves Turkey facing a bitter truth - its assumption of his quick demise was a costly miscalculation. With al Qaeda-linked armed groups con
Published 28 May, 2014 12:00am
Gunmen fire grenades at Libya Prime Minister's home

Gunmen fire grenades at Libya Prime Minister's home

Gunmen fired grenades at the Tripoli home of Libya's new Prime Minister, Ahmed Maiteeq, and his guards killed at least one assailant on Tuesday, just days after parliament approved his appointment in a contested vote. Full details of the morning attack we
Published 28 May, 2014 12:00am
Ukraine moves step closer to visa-free EU travel

Ukraine moves step closer to visa-free EU travel

Ukraine moved a step further closer to visa-free travel to the EU on Tuesday when the EU's executive ruled it had put in place the required legislative reforms. Ukraine "meets the first-phase requirements," a European Commission statement said. "The secon
Published 28 May, 2014 12:00am
Taxation of retirement schemes

Taxation of retirement schemes

Pakistan's present retirement schemes due to structural issues are far from achieving their desired objectives resulting in low/limited coverage and retirement asset far behind in terms of percentage to GDP. Nobody can afford to ignore the role of contrac
Published 28 May, 2014 12:00am
Power ship: government concerned at delay in departure

Power ship: government concerned at delay in departure

The government is concerned at the delay in the departure of power ship carrying 231 MW plant at Port Qasim established by Turkish firm Karkey Karadeniz Elektrik Uretim despite obtaining an NoC from the Sindh High Court (SHC), well informed sources told <
Published 28 May, 2014 12:00am
Hinopak Motors Limited

Hinopak Motors Limited

INTRODUCTION: Hinopak Motors Limited was established in 1986 with the collaboration of Hino Motors Japan, Toyota Tsusho Corporation, Al Futtaim Group, UAE and PACO Pakistan. As the latter two founding partners declared divestments in 1998, Hino Mot
Published 28 May, 2014 12:00am
Hinopak Motors Limited

Hinopak Motors Limited

INTRODUCTION: Hinopak Motors Limited was established in 1986 with the collaboration of Hino Motors Japan, Toyota Tsusho Corporation, Al Futtaim Group, UAE and PACO Pakistan. As the latter two founding partners declared divestments in 1998, Hino Mot
Published 28 May, 2014 12:00am
Elevation of six judges: SHC dismisses petition

Elevation of six judges: SHC dismisses petition

The Sindh High Court (SHC) on Tuesday dismissed the constitutional petition seeking to consider elevation of six lower court judges to SHC, who had taken oath of judges of SHC under a provisional constitutional order (PCO) promulgated on 3, 2007 by the th
Published 28 May, 2014 12:00am
MCB-AH announces interim payouts for PCF, PIEF

MCB-AH announces interim payouts for PCF, PIEF

The Chief Executive Officer of MCB-Arif Habib Savings and Investments Limited (MCBAH) on behalf of the Board of Directors, has approved the following interim distributions for Pakistan Cash Management Fund, and Pakistan Income Enhancement Fund. For Pakist
Published 28 May, 2014 12:00am
SSGC's Meter Plant exceeds output target

SSGC's Meter Plant exceeds output target

SSGC's Meter Manufacturing Plant achieved a record production of 750,001 gas meters, two months before the closing of the financial year 2013-14. This remarkable feat of the Meter Plant's management and workers was acknowledged at a ceremony called 'Celeb
Published 28 May, 2014 12:00am
Sack Kraft paper SKMA seeks duty reduction to five percent

Sack Kraft paper SKMA seeks duty reduction to five percent

Sack Kraft Manufacturers Association (SKMA) has proposed to the Federal Board of Revenue (FBR) to rationalise and reduce the current customs duty on sack Kraft paper to five percent in the upcoming budget 2014-2015 as an initiative to promote the environm
Published 28 May, 2014 12:00am
WWF-Pak installs RO plant at Kaka Pir Village

WWF-Pak installs RO plant at Kaka Pir Village

World Wide Fund-Pakistan (WWF-Pak) has installed Reverse Osmosis (RO) plant at Sindh's Kaka Pir Village to supply pure drinking water to the coastal area community. According to WWF-Pak's Wetland Centre's Co-ordinator, Naveed Ali Soomro, the WWF has insta
Published 28 May, 2014 12:00am
Bin Qasim industrial zone - gateway for local & foreign investment

Bin Qasim industrial zone - gateway for local & foreign investment

It is a pesky situation indeed that Bin Qasim Industrial Zone (BQIZ), largest industrial area of Sindh province, spread over 25,000 acres of land, offering enormous potential for local and foreign investment is being chastised to the extent that there is
Published 28 May, 2014 12:00am
Polio vaccination drive continues in Quetta

Polio vaccination drive continues in Quetta

The campaign against poliovirus successfully continued in Quetta among five high risk districts of Balochistan on Tuesday. The anti-polio campaign in five high risk districts including Quetta, Zob, Sherani, Pashin and Qila Abdullah was started on Monday.
Published 28 May, 2014 12:00am
UHS, HEC joint symposium tomorrow

UHS, HEC joint symposium tomorrow

The University of Health Sciences (UHS) in collaboration with Higher Education Commission (HEC), is organising an International Symposium on Molecular Forensic here on Thursday. The symposium, which is being organised by UHS Forensic Sciences Department,
Published 28 May, 2014 12:00am
Budget 2014-15: specific excise tax proposed to curb use of tobacco

Budget 2014-15: specific excise tax proposed to curb use of tobacco

In a bid to discourage the use of tobacco in Pakistan, having one of the largest populations of tobacco users in the world, leading economists, foreign experts and tax officials proposed a high uniform specific cigarette excise tax in the forthcoming budg
Published 28 May, 2014 12:00am
Budget 2014-15: specific excise tax proposed to curb use of tobacco

Budget 2014-15: specific excise tax proposed to curb use of tobacco

In a bid to discourage the use of tobacco in Pakistan, having one of the largest populations of tobacco users in the world, leading economists, foreign experts and tax officials proposed a high uniform specific cigarette excise tax in the forthcoming budg
Published 28 May, 2014 12:00am
Non-payment of dues: KWSB serves notices on Malir Cantt, PR

Non-payment of dues: KWSB serves notices on Malir Cantt, PR

Karachi Water 8 Sewerage Board (KWSB) has served final disconnection notices on Malir Cantonment Board and Pakistan Railways for non-payment of outstanding dues of Rs 100 million and Rs 80 million, respectively. According to KWSB spokesman, the water util
Published 28 May, 2014 12:00am
Pemra member's appointment challenged

Pemra member's appointment challenged

A writ petition challenging the appointment of Pervaiz Rathore as member Pakistan Electronic Media Regulatory Authority (Pemra) was filed in the Islamabad High Court on Tuesday by Sohail Bhatti through his counsel Advocate Hafiz Irfan Ahmed Chaudhry. The
Published 28 May, 2014 12:00am
Steel sector, ship breakers: FBR proposes increase in sales tax rates

Steel sector, ship breakers: FBR proposes increase in sales tax rates

The Federal Board of Revenue (FBR) has proposed increase in sales tax rates for steel melters, re-rolling mills and ship breakers in coming budget (2014-15) to generate additional revenue of Rs 6-8 billion from these sectors. Sources told Business Reco
Published 28 May, 2014 12:00am
Friendly ties with Afghanistan vital for economy: Khattak

Friendly ties with Afghanistan vital for economy: Khattak

Senator Afrasiab Khattak has underscored the need for friendly ties with the neighbouring Afghanistan which is vital for boosting bilateral trade and peace in the region. Speaking at a forum on "Afghanistan Presidential Elections 2014" organised by Pakist
Published 28 May, 2014 12:00am
PTI Punjab slams PML-N's MPA for slapping doctor

PTI Punjab slams PML-N's MPA for slapping doctor

Pakistan Tehrik-e-Insaf (PTI) Punjab on Tuesday condemned the shameful behaviour shown by the PML-N MPA Rao Kashif Raheem who slapped a doctor working at Samundri Tehsil Head Quarter Hospital, Faisalabad. PTI provincial leaders Ejaz Ahmed Chaudhary, Dr Ya
Published 28 May, 2014 12:00am
Youm-e-Takbeer important day in defence history: Shahbaz

Youm-e-Takbeer important day in defence history: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that May 28 is a very important day in the political and defence history of Pakistan as on this day, this great country of Islamic world wrote a new history by conducting nuclear tests despite great p
Published 28 May, 2014 12:00am
PU holds seminar: lecture on social, political history of Urdu language

PU holds seminar: lecture on social, political history of Urdu language

Punjab University Oriental College Department of Urdu has organised a seminar in which Pakistan's renowned linguistic expert Dr Tariq Rehman delivered a comprehensive lecture on social and political history of Urdu language. He denied all false assumption
Published 28 May, 2014 12:00am
Proposed rise in GST on exports widely opposed

Proposed rise in GST on exports widely opposed

Industrialists, manufacturers, exporters and traders have expressed their concern over proposed increase in sales tax on exports from two to five percent, mentioning that it would greatly hamper exports to play havoc with the value-added export sector of
Published 28 May, 2014 12:00am
10 kids among 16 killed in bus accident

10 kids among 16 killed in bus accident

A bus accident on Tuesday in Swat left 16 people dead, including 10 children, officials said. The bus, carrying passengers home from the central Punjab province to the Kalam hill station in Swat district, crashed on the roadside close to a river in the ea
Published 28 May, 2014 12:00am
Torturing of old prisoner: IHC seeks report from IG Punjab Prisons

Torturing of old prisoner: IHC seeks report from IG Punjab Prisons

The Islamabad High Court Tuesday sought comprehensive report from Inspector General (IG) Punjab Prisons pertaining to the torturing of 68-year-old prisoner in Adiala Jail. Ghulam Mustafa Gilani, who is undergone life imprisonment at Adiala Jail, was bruta
Published 28 May, 2014 12:00am
PTA chief seeks government help to boost leather products' export

PTA chief seeks government help to boost leather products' export

Pakistan Tanners Association's (PTA) Chairman Fawad Jawed said here on Tuesday that a small support from the Ministry of Commerce could help boost leather products' export to $3 billion in the next three years, making the industry second biggest after tex
Published 28 May, 2014 12:00am
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