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May 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-11
Japan's orders data shock casts shadow over recovery scenario

Japan's orders data shock casts shadow over recovery scenario

Japan's machinery orders tumbled by a record margin in May, dashing hopes for a bounce and casting doubt over a scenario of investment-led recovery in the world's third-largest economy. The data are highly volatile, but serve as an indicator of capital sp
Published 11 Jul, 2014 12:00am
Indonesia keeps rate on hold

Indonesia keeps rate on hold

Indonesia's central bank on Thursday kept its key reference rate unchanged at 7.50 percent as expected. Bank Indonesia (BI) said the decision to keep rates unchanged was consistent with efforts to limit inflation to around 4.5 percent this year and 4 perc
Published 11 Jul, 2014 12:00am
Canadian housing starts unexpectedly rise in June

Canadian housing starts unexpectedly rise in June

Canadian housing starts rose in June, bucking expectations for a modest slowdown in the month and suggesting the building sector added to economic growth in the second quarter after a brutal winter, data released on Wednesday showed. A report from the Can
Published 11 Jul, 2014 12:00am
China bank denies state TV claims of 'dirty money' transfers

China bank denies state TV claims of 'dirty money' transfers

The Bank of China (BOC) has denied accusations by state television that it helped clients evade limits on money transfers overseas, in a rare attack by the government broadcaster against a state-backed institution. In a report, China Central Television co
Published 11 Jul, 2014 12:00am
Bank of Korea trims growth, inflation outlook

Bank of Korea trims growth, inflation outlook

South Korea's central bank held interest rates steady and modestly scaled back its expectations for growth and inflation, a sign that rates will stay steady, but disappointed investors who had hoped its next move would be to cut borrowing costs. As expect
Published 11 Jul, 2014 12:00am
Nestle adds skincare muscle by completing Valeant deal

Nestle adds skincare muscle by completing Valeant deal

Swiss food giant Nestle announced Thursday that it had bolstered its hand in the medical skin treatment market by finalising a deal with Canada's Valeant Pharmaceuticals International. "As a result of the successful conclusion of the regulatory process an
Published 11 Jul, 2014 12:00am
Apple Store design worthy of trademark: EU court

Apple Store design worthy of trademark: EU court

Apple has the right to trademark its flagship store design, the EU's highest court said on Thursday, though under certain conditions. In 2013, after two years of trying, iPhone-maker Apple successfully registered the design of its stores with the United S
Published 11 Jul, 2014 12:00am
Apple Store design worthy of trademark: EU court

Apple Store design worthy of trademark: EU court

Apple has the right to trademark its flagship store design, the EU's highest court said on Thursday, though under certain conditions. In 2013, after two years of trying, iPhone-maker Apple successfully registered the design of its stores with the United S
Published 11 Jul, 2014 12:00am
Maersk unveils shipping alliance with MSC

Maersk unveils shipping alliance with MSC

A.P. Moeller-Maersk on Thursday announced an alliance with shipping company MSC on some of the world's busiest shipping routes after China scuppered a planned tie-up between the two companies and CMA. The Danish shipping and oil conglomerate said it had s
Published 11 Jul, 2014 12:00am
BoE keeps rates at record low

BoE keeps rates at record low

The Bank of England opted Thursday to keep interest rates at a record-low 0.50 percent, despite governor Mark Carney's recent warning that they could rise sooner than expected. The British central bank's nine-member monetary policy committee (MPC) also de
Published 11 Jul, 2014 12:00am
ECB keeps banks on tight leash for health check results

ECB keeps banks on tight leash for health check results

The European Central Bank wants to give banks just 48 hours to review the results of a balance sheet health check so it can guard against data leaks even though the banks would like more time. The ECB is carrying out the most detailed ever review of the e
Published 11 Jul, 2014 12:00am
US sues Amazon

US sues Amazon

The US Federal Trade Commission sued Amazon Thursday for charging parents for what their children spent on online games without parental authorisation. The FTC said Amazon let kids playing online games to spend real money from their parents' accounts on v
Published 11 Jul, 2014 12:00am
Faltering Germany casts cloud over fragile eurozone

Faltering Germany casts cloud over fragile eurozone

Germany's faltering economy has cast further doubt over the eurozone's prospects for recovery this year, with no other big country strong enough to pick up the slack. Since late last year, the 18 countries using the euro have been climbing steadily out of
Published 11 Jul, 2014 12:00am
Drop in US jobless claims points to healing in labour market

Drop in US jobless claims points to healing in labour market

The number of Americans filing new claims for unemployment benefits fell last week to one of its lowest levels since before the 2007-09 recession, a sign of increasing health in the labour market. Other data on Thursday showed a rise in business inventori
Published 11 Jul, 2014 12:00am
Emaar lifts Dubai's bourse; Qatar index rebounds further

Emaar lifts Dubai's bourse; Qatar index rebounds further

Dubai and Qatar led market rises in the Gulf on Thursday on the back of property and banking stocks, while Egyptian real estate companies dragged down the market after jumping earlier this week. Dubai's main index rose 1.5 percent as shares in Emaar Prope
Published 11 Jul, 2014 12:00am
Southeast Asian markets: Indonesia hits 13-month peak

Southeast Asian markets: Indonesia hits 13-month peak

Indonesia's benchmark hit an over 13-month closing high on Thursday as foreign inflows sent large-caps soaring, but caution remained over the outcome of Wednesday's presidential election. Jakarta's composite index ended up 1.5 percent, erasing some of its
Published 11 Jul, 2014 12:00am
Thursday's midday trade: stocks drop on Portugal bank worry

Thursday's midday trade: stocks drop on Portugal bank worry

US stocks pulled well off session lows but were still falling on Thursday as concerns about the financial health of Portugal's top listed bank gave investors a reason to cash in recent gains. With the Dow and the S&P 500 near record highs, the slide in Eu
Published 11 Jul, 2014 12:00am
US stocks soar

US stocks soar

US stocks finished higher on Wednesday, rebounding from a sharp two-day selloff, after minutes from the last Federal Reserve meeting showed policymakers have started to detail how the central bank will end its easy monetary policy. The Fed indicated it wi
Published 11 Jul, 2014 12:00am
Taiwan stocks jump

Taiwan stocks jump

Taiwan stocks rose 0.7 percent on Thursday, with Cathay Financial leading banks higher after a strong earnings report. The world's top contract chip maker TSMC rose 1 percent. TSMC, Taiwan's most heavily-weighted stock, will release its June sales numbers
Published 11 Jul, 2014 12:00am
US bond prices rise

US bond prices rise

US Treasuries prices rose on Wednesday as the Federal Reserve acknowledged the recent strengthening in the US economy in the minutes of its June meeting but suggested it was unlikely to raise policy rates until the second half of 2015. The bond market eke
Published 11 Jul, 2014 12:00am
US bond prices rise

US bond prices rise

US Treasuries prices rose on Wednesday as the Federal Reserve acknowledged the recent strengthening in the US economy in the minutes of its June meeting but suggested it was unlikely to raise policy rates until the second half of 2015. The bond market eke
Published 11 Jul, 2014 12:00am
Indian shares edge down after budget

Indian shares edge down after budget

Indian shares edged lower in a volatile session on Thursday as Finance Minister Arun Jaitley's pledge to narrow the fiscal deficit and open up sectors such as insurance and defence were offset by disappointment over the lack of major reforms. Investors al
Published 11 Jul, 2014 12:00am
Hong Kong shares up; China down

Hong Kong shares up; China down

Hong Kong shares ended 0.27 percent higher Thursday, taking the lead from Wall Street while Chinese data showed export growth picking up in June. The benchmark Hang Seng Index rose 62.92 points to 23,238.99 on turnover of HK$47.61 billion (US $6.14 billio
Published 11 Jul, 2014 12:00am
European shares down as Portuguese stocks slump on banking woes

European shares down as Portuguese stocks slump on banking woes

Investors across Europe trimmed their exposure to banks on Thursday in response to growing concerns about the health of Portugal's biggest listed lender, with a leading pan-European share index slipping to a two-month low. Portugal's PSI share index fell
Published 11 Jul, 2014 12:00am
Australian shares up

Australian shares up

Australian shares rose 0.2 percent on Thursday, supported by an overnight rise on Wall Street and higher metal prices, but mixed local jobs data and weaker-than-expected Chinese trade figures capped gains. The S&P/ASX 200 index reversed an earlier dip to
Published 11 Jul, 2014 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks lost 0.56 percent Thursday despite a pick-up on Wall Street as exporters were hit by a stronger yen while the US Federal Reserve signalled its intention to end its long-running stimulus later this year. The Nikkei 225 index ended down 86.18 p
Published 11 Jul, 2014 12:00am
Financial services firms lead FTSE lower in broad-based slide

Financial services firms lead FTSE lower in broad-based slide

Britain's top share index fell on Thursday, with financial stocks hit by a sell-off in the sector across Europe on concerns about Portugal's biggest listed bank. As investors shifted away from equities to safe-haven assets, the FTSE 100 index broke below
Published 11 Jul, 2014 12:00am
Dollar struggles, Aussie slides in Asia

Dollar struggles, Aussie slides in Asia

The dollar traded around one-week lows against a basket of major currencies on Thursday, coming under pressure after minutes of the Federal Reserve's June meeting gave no clear indication about the timing of any interest rate rise. The Australian dollar,
Published 11 Jul, 2014 12:00am
Yen, Swedish crown gain in London trade

Yen, Swedish crown gain in London trade

The yen rose to a three-week high against the euro on Thursday as investors sought safety following weak Italian economic data and concerns about Portugal's largest listed bank that hit European shares. The euro also weakened against the dollar, itself un
Published 11 Jul, 2014 12:00am
Early trade in New York: Yen soars versus dollar, euro

Early trade in New York: Yen soars versus dollar, euro

The yen hit a five-month high against the euro and an almost two-month high against the dollar on Thursday, after concerns about Portugal's largest listed bank and weak Italian economic data hit European shares. Concerns about the health of a parent compa
Published 11 Jul, 2014 12:00am
Dollar weakens against euro, yen in New York

Dollar weakens against euro, yen in New York

The US dollar weakened against the euro and the yen on Wednesday after the Federal Reserve's June meeting minutes kept a dovish tone in a statement that was devoid of any large surprises. The Fed has begun detailing how it plans to ease the US economy out
Published 11 Jul, 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 Thursday. 77.60-77.61 (previous 77.61-77.61). Call Money Rates: 05.75-07.00 percent (* previous 05.50-07.25 percent). (* revised).
Published 11 Jul, 2014 12:00am
Indian rupee declines

Indian rupee declines

The Indian rupee saw its biggest single-day decline in nearly a month on Thursday as the euphoria over the budget was washed away by the sharp fall in European shares while key stop-losses were also triggered. Indian Prime Minister Narendra Modi's new gov
Published 11 Jul, 2014 12:00am
Asia forex: Rupiah hits seven-week high

Asia forex: Rupiah hits seven-week high

The Indonesian rupiah hit a seven-week high on Thursday, in tandem with firmer local stocks and bond prices a day after a tense presidential election, but pared some gains on uncertainty over the winner of the country's most closely fought election. Other
Published 11 Jul, 2014 12:00am
Sterling slips against dollar

Sterling slips against dollar

Sterling slipped against the dollar on Thursday after data showed the UK goods trade deficit widened unexpectedly in May and the Bank of England kept interest rates at record lows. As expected, the central bank's Monetary Policy Committee (MPC) kept its b
Published 11 Jul, 2014 12:00am
New Zealand dollar off highs

New Zealand dollar off highs

The New Zealand dollar hit a three-year high on Thursday but stalled before a post-float, three-decade peak as the Australian dollar sagged in disappointment at employment data and Chinese trade figures. The kiwi was hovering at $0.8820, having stretched
Published 11 Jul, 2014 12:00am
Nasri signs new 5-year City deal

Nasri signs new 5-year City deal

France international midfielder Samir Nasri has signed a new five-year contract with Manchester City, the Premier League champions announced on Thursday. The 27-year-old has committed his future to the club until 2019 after his best season with the club u
Published 11 Jul, 2014 12:00am
Greipel win boosts Franco-German friendship: Hollande

Greipel win boosts Franco-German friendship: Hollande

French president François Hollande hailed the victory of German Andre Greipel Thursday on a poignant Tour de France stage that swept past numerous World War I battlefields. Hollande said the success of a German in France's greatest domestic sporting event
Published 11 Jul, 2014 12:00am
Shami stars as India take charge

Shami stars as India take charge

India number 11 Mohammed Shami embarrassed England with the bat and then ensured home captain Alastair Cook's poor run of scores continued as the tourists seized control of the first Test at Trent Bridge. India piled up 457 on Thursday's second day on the
Published 11 Jul, 2014 12:00am
Najam Sethi removed as PCB chief for third time

Najam Sethi removed as PCB chief for third time

Pakistan cricket's administration crisis took a fresh turn on Thursday after Najam Sethi was removed as chief of Pakistan Cricket Board for the third time and former judge Jamshed Ali Shah was installed as interim chief. The latest decision came from prim
Published 11 Jul, 2014 12:00am
Romero the hero as Argentina sink Dutch

Romero the hero as Argentina sink Dutch

Goalkeeper Sergio Romero saved two shoot-out penalties as Argentina beat the Netherlands to reach the World Cup final for the first time in 24 years on Wednesday. Romero, who has hardly played for French club Monaco this season, blocked shots from Ron Vla
Published 11 Jul, 2014 12:00am
South Korea coach resigns after World Cup failure

South Korea coach resigns after World Cup failure

South Korean football coach Hong Myung-Bo announced his resignation Thursday following a disappointing World Cup showing that saw his team jeered and booed on their return from Brazil. "As of today, I am leaving this post", Hong told a press conference in
Published 11 Jul, 2014 12:00am
Neymar to join Brazil for third place play-off

Neymar to join Brazil for third place play-off

Brazil's injured striker Neymar will attend Saturday's third place play-off when the battered World Cup hosts take on the Netherlands. Brazil were consigned to the ignominy of fighting out a game Dutch coach Louis van Gaal has attacked as "unfair" after t
Published 11 Jul, 2014 12:00am
Serena out of Bastad

Serena out of Bastad

World number one Serena Williams has pulled out of next week's Swedish Open after failing to recover from the illness which dramatically ended her Wimbledon campaign. The 32-year-old American star, who was the defending champion at the Bastad claycourt ev
Published 11 Jul, 2014 12:00am
Openers miss out as Black Caps opt for youth

Openers miss out as Black Caps opt for youth

Struggling New Zealand Test openers Peter Fulton and Hamish Rutherford missed out on central contracts as selectors on Thursday named a youth-orientated playing group with an eye on next year's World Cup. There are six new faces in the 20-man list of play
Published 11 Jul, 2014 12:00am
Isner, Mahut reach quarters

Isner, Mahut reach quarters

Two-time champion John Isner and defending champ Nicolas Mahut eased into the quarter-finals at the ATP Tour's Hall of Fame Tennis Championships on Wednesday. Two-time runner-up Lleyton Hewitt, of Australia, also advanced in emphatic fashion with a straig
Published 11 Jul, 2014 12:00am
Kenya eyes Glasgow distance comeback

Kenya eyes Glasgow distance comeback

Kenya's long distance men's team is hoping to end 12 years of frustration at the Commonwealth Games by regaining the 5000m and 10000m titles in Glasgow. Kenya dominated both races at the 2002 games in Manchester, England but have since been overshadowed b
Published 11 Jul, 2014 12:00am
FIFA rejects Uruguay, Suarez appeals

FIFA rejects Uruguay, Suarez appeals

FIFA on Thursday dismissed appeals by Uruguay and Luis Suarez over the striker's four-month global ban for biting a World Cup opponent. However amid doubts about the scope of the restrictions on the star goalscorer's activities, Suarez could still take a
Published 11 Jul, 2014 12:00am
Bollywood grand dame Zohra Sehgal dies

Bollywood grand dame Zohra Sehgal dies

Bollywood's grand dame Zohra Sehgal, whose seven-decade career spanned theatre, film, dance and television in both India and Britain, died in hospital on Thursday, her family said. She was 102. Prime Minister Narendra Modi led tributes to the star, who wa
Published 11 Jul, 2014 12:00am
US blacklists Hezbollah agents buying drone components

US blacklists Hezbollah agents buying drone components

The United States moved Thursday to blacklist a group of companies it said covertly helped Lebanon's powerful Hezbollah militia acquire components for surveillance drones. The US Treasury placed sanctions on Beirut-based Stars Group Holding, which it said
Published 11 Jul, 2014 12:00am
EU sanctions two South Sudan military chiefs

EU sanctions two South Sudan military chiefs

The European Union said it slapped a travel ban and asset freeze Thursday on two South Sudanese military leaders for committing atrocities and obstructing the peace. The sanctions against the two, whose names will be released Friday when the sanctions tak
Published 11 Jul, 2014 12:00am
Turkey passes bill to revive Kurdish peace talks

Turkey passes bill to revive Kurdish peace talks

Turkish lawmakers Thursday adopted a bill to revive peace talks with Kurdish rebels, in a move the government hopes will rally Kurdish votes to Prime Minister Recep Tayyip Erdogan bid to win presidential elections next month. The jailed leader of the outl
Published 11 Jul, 2014 12:00am
Iraq's Kurds demand Maliki's resignation

Iraq's Kurds demand Maliki's resignation

Iraq's Kurds said Thursday Prime Minister Nuri al-Maliki was "hysterical" and not fit to run the country, further dimming the prospect of a new leadership uniting to face jihadist fighters. The worsening political discord comes three days ahead of a plann
Published 11 Jul, 2014 12:00am
Migration helps boost EU population to 507.4 million

Migration helps boost EU population to 507.4 million

The population of the European Union stood at 507.4 million people on January 1, official EU data showed Thursday, with a significant boost from immigration. According to the Eurostat agency, the EU's population grew by 1.7 million people over a 12-month
Published 11 Jul, 2014 12:00am
EU court slaps down German language-for-visa rule for Turks

EU court slaps down German language-for-visa rule for Turks

The European Union's highest court rejected on Thursday a German rule conditioning visas for Turks looking to reunite with their spouses to a basic knowledge of German. The case was brought against Germany by Naime Dogan, who in January last year was refu
Published 11 Jul, 2014 12:00am
EU nations join forces against 'exorbitant' hepatitis C drug: France

EU nations join forces against 'exorbitant' hepatitis C drug: France

France said Thursday it has joined forces with 13 other European countries to negotiate a lower price for a promising new hepatitis C drug that has drawn controversy for its astronomical cost. Sovaldi, made by US pharmaceutical firm Gilead Sciences, has s
Published 11 Jul, 2014 12:00am
Ukraine warns 'all-out' assault may last another month

Ukraine warns 'all-out' assault may last another month

Ukraine warned on Thursday that its "all-out" assault on pro-Russian insurgents may last another month and rejected calls for a cease-fire as it pushed tanks within striking distance of the rebels' two remaining strongholds. An AFP reporting team about 20
Published 11 Jul, 2014 12:00am
Major public sector strike in Britain over pay and cuts

Major public sector strike in Britain over pay and cuts

A major public sector strike took place in Britain on Thursday, with hundreds of thousands of workers rallying against the government's austerity-driven spending cuts and pay restraint measures. The strike involves a wide range of workers from teachers an
Published 11 Jul, 2014 12:00am
Chinese hackers accessed US government computers

Chinese hackers accessed US government computers

Chinese hackers accessed US government computers containing personal information on all federal employees, the New York Times reported Thursday. The hacking occurred in March and the perpetrators appeared to be targeting the files of people who had applie
Published 11 Jul, 2014 12:00am
China gave $14.4 billion in foreign aid in three years

China gave $14.4 billion in foreign aid in three years

China, the world's second-largest economy after a decades-long boom, provided a total of 89.3 billion yuan (now $14.4 billion) in foreign aid in the three years to 2012, it said Thursday. The assistance, in the form of grants, interest-free loans and othe
Published 11 Jul, 2014 12:00am
ICE cotton falls for seventh session on US output expectations

ICE cotton falls for seventh session on US output expectations

Cotton futures touched June 2012 lows on Wednesday as producers raced to hedge their crops as the market braced for an expected boost on Friday in the US government's outlook for 2014/15 supply prospects in the United States, the world's top exporter. The
Published 11 Jul, 2014 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded September copper contract on the Shanghai Futures Exchange slipped 0.9 percent to 50,540 yuan ($8,200) a tonne on Thursday, having touched a 1-week trough in overnight trade. In Shanghai, supply worries continued to support prices. Copper
Published 11 Jul, 2014 12:00am
Nickel drops, copper rebounds

Nickel drops, copper rebounds

Nickel prices slid on Thursday as inventories rose, giving investors a reminder of an overhang of material despite an Indonesian export ban. Copper rebounded after upbeat US jobs data raised the prospect of higher demand for industrial metals. Benchmark t
Published 11 Jul, 2014 12:00am
Oil demand to grow further: Opec

Oil demand to grow further: Opec

Global world oil demand is due to increase further next year thanks in part to resurgent growth in developed countries, Opec said Thursday in its first forecast for 2015. The Organisation for Petroleum Exporting Countries, which pumps a third of the world
Published 11 Jul, 2014 12:00am
Oil slips on slack US demand, improving supply outlook

Oil slips on slack US demand, improving supply outlook

Oil fell towards $108 a barrel on Thursday, extending its longest losing streak in four years, pressured by the prospect of solid global supply and weak gasoline demand in the United States. Brent and US crude oil futures continued their downward trend th
Published 11 Jul, 2014 12:00am
Rubber falls

Rubber falls

Benchmark Tokyo rubber futures fell 0.4 percent on Thursday, dragged lower by weak Shanghai futures, on uncertainty about rubber demand by the world's top consumer. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December deliver
Published 11 Jul, 2014 12:00am
Corn sets new contract low

Corn sets new contract low

US new-crop corn futures fell to a new contract low below $4 a bushel on Wednesday as forecasts for nearly ideal crop weather raised expectations for record harvests. New-crop soyabean futures dropped to their lowest level since early February, while whea
Published 11 Jul, 2014 12:00am
Palm oil springs back

Palm oil springs back

Malaysian palm oil futures ended higher on Thursday, bouncing off a nine-month low hit in early trades, after an industry report showed that stocks in the No 2 producer sank to a one-year low, signalling tighter supplies ahead. The Malaysian Palm Oil Boar
Published 11 Jul, 2014 12:00am
Coffee tumbles

Coffee tumbles

Speculators triggered a fall in arabica coffee futures by liquidating positions on Thursday, taking one of this year's best performing commodities to a near five-month low and knocking off the seasonal frost premium on moderate weather forecasts. Robusta
Published 11 Jul, 2014 12:00am
Gold rises in New York

Gold rises in New York

Gold rose on Wednesday, holding above $1,320 an ounce, after the US Federal Reserve's latest meeting minutes did not suggest any hike in US interest rates soon. Palladium jumped to a 13-1/2 year high for a second day, and platinum rallied too. The two aut
Published 11 Jul, 2014 12:00am
Gold up in Asia

Gold up in Asia

Gold edged up for a second session on Thursday as the dollar weakened after minutes of the Federal Reserve's recent policy meet gave no indication of when US interest rates will rise. Markets were also waiting to see if India, the world's No 2 gold consum
Published 11 Jul, 2014 12:00am
Gold hits 3-1/2-month high in Europe

Gold hits 3-1/2-month high in Europe

Gold rose to its highest since March on Thursday as European shares fell after weak economic data and the dollar remained flat following minutes of the Federal Reserve's June meeting, which gave no sign about the timing of any interest rate rise. The mark
Published 11 Jul, 2014 12:00am
Alcoa sees bigger aluminium deficit

Alcoa sees bigger aluminium deficit

Alcoa Inc has increased its estimate for the global aluminium market deficit this year due to capacity cuts in China, the world's No 1 producer, a senior executive said on Tuesday in a conference call to discuss second-quarter earnings. The US aluminium p
Published 11 Jul, 2014 12:00am
US MIDDAY: new-crop corn hits fresh low

US MIDDAY: new-crop corn hits fresh low

New-crop US corn futures set a contract low for the eighth consecutive session on Thursday as mild weather increased expectations for bumper crops, while new-crop soyabeans dropped to a six-month low below $11 a bushel. The markets have "nothing long term
Published 11 Jul, 2014 12:00am
10-year tax holiday for new investors

10-year tax holiday for new investors

India's government on Wednesday announced a 10-year tax holiday to new investors, who begin generation, distribution and transmission of power till March 31, 2017, increased personal income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh for individual
Published 11 Jul, 2014 12:00am
10-year tax holiday for new investors

10-year tax holiday for new investors

India's government on Wednesday announced a 10-year tax holiday to new investors, who begin generation, distribution and transmission of power till March 31, 2017, increased personal income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh for individual
Published 11 Jul, 2014 12:00am
Increasing power generation

Increasing power generation

The Indian government led by Prime Minister, Narendra Modi has announced a number of measures to increase power generation especially on promotion of clean energy in the country. Indian Finance Minister Arun Jaitley in his budget speech unveiled a new ene
Published 11 Jul, 2014 12:00am
Defence budget raised by 12 percent

Defence budget raised by 12 percent

India's new government boosted defence spending by 12 percent in 2014-15 over the previous year, in a budget presented on Thursday and further opened the domestic weapons industry to foreign investment to help rebuild the military. The raise in defence bu
Published 11 Jul, 2014 12:00am
Modi-led government envisages FRBM Act

Modi-led government envisages FRBM Act

India's government envisages a new Fiscal Responsibility and Budget Management (FRBM) Act with teeth and better accounting practices as well as improved budgetary management to put the public finances need on sustainable path. The Indian government stated
Published 11 Jul, 2014 12:00am
A Tale of Two Budgets: India's budget not premised on borrowing

A Tale of Two Budgets: India's budget not premised on borrowing

The newly-elected government in India announced a pro-growth budget that is not premised on borrowing which is in marked contrast to the second budget presented by the one-year-old Nawaz Sharif government which is heavily reliant on foreign borrowing.
Published 11 Jul, 2014 12:00am
Man gunned down

Man gunned down

Armed men on Thursday killed a man in Khuzdar district, police confirmed. They said that Sahibdar died instantly when armed men opened fire him in Khand area of Khuzdar. The assailants managed to escape. Motive behind the killing is unknown. Further probe
Published 11 Jul, 2014 12:00am
Action needed to intensify road safety: report

Action needed to intensify road safety: report

Global Status Report (GSR) on road safety 2013, which is published by WHO, has emphasised on the need of taking urgent action to intensify the road safety as the current trends suggest that by 2030 road traffic deaths will become leading cause of death. A
Published 11 Jul, 2014 12:00am
Education institutions: Nokia X Portathon draws much attraction

Education institutions: Nokia X Portathon draws much attraction

Microsoft Devices kicked off the Nokia X Portathon across various universities of Karachi. Nokia X Portathon, is a unique application porting program where developers port their Android applications onto the Nokia Store getting the advantages of Nokia X p
Published 11 Jul, 2014 12:00am
MQM serves people without discrimination: Altaf

MQM serves people without discrimination: Altaf

Muttahida Qaumi Movement (MQM) chief Altaf Hussain has said MQM, since its inception, kept serving people without any discrimination. According to a press release issued here on Thursday, he was talking to members of Rabita Committee, parliamentarians and
Published 11 Jul, 2014 12:00am
KPT restrained from transferring contractor's money to NAB

KPT restrained from transferring contractor's money to NAB

The Sindh High Court (SHC) on Thursday restrained Karachi Port Trust (KPT) from transferring foreign contractor's frozen amount of over Rs 60 million to National Accountability Bureau (NAB) investigating the fraudulently evasion of stamp duty worth Rs 30.
Published 11 Jul, 2014 12:00am
Traffic jam, roadside parking hit trade activities

Traffic jam, roadside parking hit trade activities

With advent of Ramazan, the traffic chaos on different roads grew largely to hamper trade and business activities at markets as traders seek the government's help to remove roadside vehicles parking facilities to ease the public movements. "If the roadsid
Published 11 Jul, 2014 12:00am
Row between KWSB, K-E makes Karachiites' life miserable

Row between KWSB, K-E makes Karachiites' life miserable

The row between two public utilities - Karachi Water & Sewerage Board (KWSB) and K-Electric (K-E) has caused great sufferings to the Karachiites especially in the month of holy Ramazan as the city reportedly faced about 350 million gallons water scarcity
Published 11 Jul, 2014 12:00am
Make-A-Wish Foundation fulfils terminally ill teenager's wish

Make-A-Wish Foundation fulfils terminally ill teenager's wish

Make-A-Wish Foundation Pakistan fulfilled the wish of terminally ill Waseem Asghar to meet Prime Minister of Pakistan Muhammad Nawaz Sharif. The 14-year old Waseem Asghar suffering from Thellessemia major wished Make-A-Wish Foundation Pakistan about his m
Published 11 Jul, 2014 12:00am
Gender-based violence rises to 84 percent in 3 provinces

Gender-based violence rises to 84 percent in 3 provinces

Gender-Based Violence (GBV) witnessed a rise to 84 percent in three provinces in the country. It was revealed in the survey report launched here on Saturday by Rutgers WPF with collaboration of SAFCO. According to the report, the survey was conducted in t
Published 11 Jul, 2014 12:00am
MCB Bank, ACCA sign MoU

MCB Bank, ACCA sign MoU

MCB Bank Limited and ACCA Pakistan have signed a MoU, according to which MCB Bank will provide all ACCA Pakistan members and students an exclusive deal on its newly launched product MCB Lite-Pass it On, a mobile wallet, powered by a Visa Card for all thei
Published 11 Jul, 2014 12:00am
Retailers continue to sell flour at exorbitant rates

Retailers continue to sell flour at exorbitant rates

Increase in the price of flour by Rs 1.50 per kg does not matter in the eyes of wheat retailers as they are already allegedly involved in selling flour at exorbitant rates. A survey of markets showed that although this essential kitchen commodity is alrea
Published 11 Jul, 2014 12:00am
JI Ameer condemns drone attack

JI Ameer condemns drone attack

JI Ameer Sirjul Haq has strongly condemned the drone attack in Ditta Khel, resulting in several casualties. In a statement here on Thursday, he said the drone attack in the presence of the Pak army in North Waziristan Agency is a matter of deep concern. H
Published 11 Jul, 2014 12:00am
Senate delegation meets member of EU Parliament

Senate delegation meets member of EU Parliament

Foreign Affairs Committee of Senate of Pakistan which is visiting Brussels under the chairmanship of Senator Haji Muhammad Adeel met with Michael Gahler who is a member of the Committee on Foreign Affairs in the European Parliament and discussed the curre
Published 11 Jul, 2014 12:00am
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