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Jun 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-05-12
Tokyo stocks up; Toshiba, Sharp plunge

Tokyo stocks up; Toshiba, Sharp plunge

Tokyo stocks jumped 1.25 percent Monday, boosted by a solid US jobs report and China's decision to cut interest rates again, but Sharp and Toshiba plunged on concerns about their balance sheets. The Nikkei 225 index at the Tokyo Stock Exchange rose 241.72
Published 12 May, 2015 12:00am
European stocks mixed as Airbus leads French stocks lower

European stocks mixed as Airbus leads French stocks lower

European stock markets were mixed on Monday, with French stocks among the worst performers after the crash of a military plane caused Airbus shares to drop. Gains by mining stocks helped to support the market after a rate cut in China, the world's biggest
Published 12 May, 2015 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks were higher on Monday as a weekend rate cut in China sent Asian bourses up on hopes the move will bolster the flagging Chinese economy. But the gains could be short-lived as the slowdown in China, the island's largest trading partner and the
Published 12 May, 2015 12:00am
Australian shares down

Australian shares down

Australian shares fell for the fifth straight session on Monday as investors dumped banking shares after a lacklustre earnings season and on uncertainty around Tuesday's federal budget. The market opened more than one percent higher following China's late
Published 12 May, 2015 12:00am
Election relief fades for Britain's stocks

Election relief fades for Britain's stocks

Britain's top share index edged down on Monday as a relief rally on the back of last week's unexpectedly strong Conservative election victory petered out. The trading day was dominated by central-bank decisions, with the Bank of England keeping interest r
Published 12 May, 2015 12:00am
While others resist, Poland invites a flood of ECB cash, risks exports

While others resist, Poland invites a flood of ECB cash, risks exports

Cushioned by growth and facing elections, Poland is becoming an outlier in central Europe, where other countries are trying to curb the growing strength of their currencies in the face of the euro zone's massive money-printing plan. Hungary, Romania and S
Published 12 May, 2015 12:00am
Euro down in Asia

Euro down in Asia

The euro slipped against the dollar as nerves took hold before key talks between Greece and euro zone finance ministers, while the New Zealand dollar sank to a near two-month trough as speculation over when the country's central bank could cut rates gathe
Published 12 May, 2015 12:00am
Early trade in New York: Dollar gains against euro

Early trade in New York: Dollar gains against euro

The US dollar rose against the euro on Monday on renewed worries over a Greek exit from the eurozone, while the New Zealand dollar hit more than seven-week lows against the greenback on speculation the country's central bank could cut rates. Greece, which
Published 12 May, 2015 12:00am
Euro slips in Europe on unease over Greek talks

Euro slips in Europe on unease over Greek talks

The euro slipped against the dollar on Monday, as many investors took a pessimistic view of the latest round of euro zone talks on a cash-for-reform deal for Greece. Greece, which must repay a 750 million euro loan to the International Monetary Fund on Tu
Published 12 May, 2015 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 Monday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.75-7.50 percent (* Previous 05.75-07.75 percent). (* revised).
Published 12 May, 2015 12:00am
China rate cut, growth concerns hurt Asia FX

China rate cut, growth concerns hurt Asia FX

Most emerging Asian currencies eased on Monday as China's interest rate cut underscored expectations that regional peers may join easing to cope with a global economic slowdown. Regional currencies came under further pressure as the US dollar broadly exte
Published 12 May, 2015 12:00am
Global shifts leave India's exporters exposed to lofty rupee

Global shifts leave India's exporters exposed to lofty rupee

The Indian rupee has climbed to heights seen only once before in the past decade, as measured against the currencies of the country's trading partners. Unlike past periods of strength, it has exporters reeling. The rupee's real effective exchange rate (RE
Published 12 May, 2015 12:00am
Sterling holds post-election gains

Sterling holds post-election gains

Sterling jumped to four-month highs against the dollar on Monday, buoyed by the election of a Conservative majority and speculation the Bank of England may provoke a change this week in bets for a first rise in interest rates. The BoE's monetary policy co
Published 12 May, 2015 12:00am
Rand slides

Rand slides

South Africa's rand fell more than 1 percent against the dollar on Monday, tracking a downward slide in emerging markets after investors were spooked by fears that Greece could default on its debt. A rate cut in China, the world's second largest economy,
Published 12 May, 2015 12:00am
Sri Lankan rupee forwards weaken

Sri Lankan rupee forwards weaken

Sri Lankan rupee forwards ended slightly weaker on Monday due to importer dollar demand, though the central bank's moral suasion capped the fall, dealers said. The market expects the downward pressure on the currency to remain due to lower interest rates
Published 12 May, 2015 12:00am
New Zealand hits multi-week lows, Aussie down

New Zealand hits multi-week lows, Aussie down

The New Zealand dollar skidded to multi-week lows on Monday on growing speculation of an interest rate cut in coming months, while the Australian dollar was dragged lower on China growth concerns despite Beijing's latest easing steps. The New Zealand doll
Published 12 May, 2015 12:00am
Spanish league fights to avert strike

Spanish league fights to avert strike

Spain's football league on Monday urged players and officials to abandon a threatened strike, warning of the "serious harm" to the sport if key end-of-season matches are scrapped. Players from top teams including Barcelona and Real Madrid have joined with
Published 12 May, 2015 12:00am
Guardiola dismisses Man City rumours

Guardiola dismisses Man City rumours

Pep Guardiola on Monday dismissed out of hand rumours he will quit Bayern Munich with a year left on his contract to become Manchester City coach for next season. "Oh, boys. I have said 200 million times that I have a year left on my contract and will be
Published 12 May, 2015 12:00am
New Zealand wrap up tour victory over Somerset

New Zealand wrap up tour victory over Somerset

New Zealand have made the perfect start to their tour of England after wrapping up a 66-run victory in their opening match against Somerset at Taunton on Monday. The Black Caps started the final day of the four-day match needing another four wickets to wi
Published 12 May, 2015 12:00am
England coaching call for Strauss, says new ECB boss

England coaching call for Strauss, says new ECB boss

The England and Wales Cricket Board's (ECB) new chairman Colin Graves insisted Monday that the decision on England's new head coach was one for Andrew Strauss. Former captain Strauss was on Saturday named as English cricket's new director and his first jo
Published 12 May, 2015 12:00am
Pietersen boosts hopes of England recall with double century

Pietersen boosts hopes of England recall with double century

Kevin Pietersen hit his first county championship double century in almost three years on Monday to boost his hopes of an England recall. Exiled batsman Pietersen had completed his 50th first-class hundred, from 153 balls, in the final over before lunch o
Published 12 May, 2015 12:00am
Chapman returns as England name Women World Cup squad

Chapman returns as England name Women World Cup squad

Mark Sampson has recalled Katie Chapman after a five-year absence as the England coach named his 23-strong squad on Monday for the Women's World Cup in Canada next month. The 32-year-old Chelsea midfielder had not played since 2010, and was named in a sid
Published 12 May, 2015 12:00am
Pakistan to tour Sri Lanka next month

Pakistan to tour Sri Lanka next month

Pakistan will tour Sri Lanka in June and July to play three Tests, five One-day internationls and two Twenty20 matches, Sri Lanka Cricket said on Monday.
Published 12 May, 2015 12:00am
Bayern can beat Barca to stun world football: Mueller

Bayern can beat Barca to stun world football: Mueller

Thomas Mueller believes Bayern Munich can make a statement to the footballing world by surmounting their three-goal deficit to beat Barcelona in Tuesday's Champions League semi-final. Bayern left themselves with a mountain to climb in Munich in order to r
Published 12 May, 2015 12:00am
Murray ponders Rome options after Madrid clay sweep

Murray ponders Rome options after Madrid clay sweep

Andy Murray was due in Rome on Monday to ponder his participation in the Italian Open after winning a breakthrough Masters 1000 title at the weekend in Madrid. Murray's comprehensive 6-3, 6-2 defeat of Spanish ace Rafael Nadal knocked the king of clay dow
Published 12 May, 2015 12:00am
Kenya exit Olympics despite four-goal romp

Kenya exit Olympics despite four-goal romp

Kenya exited the 2016 Olympic Games football qualifying competition at the weekend despite scoring four goals against Botswana in Nairobi. A 4-1 win at Nyayo Stadium levelled the first-round tie at 4-4 on aggregate, but the visitors squeezed through on aw
Published 12 May, 2015 12:00am
Bradford mourns, 30 years after the fire

Bradford mourns, 30 years after the fire

More than a thousand mourners gathered for a touching memorial ceremony at Bradford's Centenary Square on Monday to mark the 30th anniversary of the fire that killed 56 football fans. The Valley Parade football stadium burned during a game between Bradfor
Published 12 May, 2015 12:00am
Hollande calls for end to US embargo on Cuba trip

Hollande calls for end to US embargo on Cuba trip

French President Francois Hollande called Monday for an end to the US embargo on Cuba during a historic visit to the island, the first by a Western leader since Washington and Havana moved to restore ties. Speaking on the half-century embargo at the start
Published 12 May, 2015 12:00am
David Miliband criticises brother's British election bid

David Miliband criticises brother's British election bid

David Miliband criticised his brother Ed's British election campaign on Monday, while ruling himself out as a candidate to take over as Labour leader after a failed bid that caused a sibling rift. Ed Miliband, who suffered a deep defeat at the polls last
Published 12 May, 2015 12:00am
Cameron unveils new cabinet after election victory

Cameron unveils new cabinet after election victory

British Prime Minister David Cameron unveiled his new cabinet on Monday after an unexpected election victory that gave his Conservative party an outright majority in parliament for the first time in nearly 20 years. Cameron stressed continuity in his lead
Published 12 May, 2015 12:00am
Houthi rebels say they shot down coalition warplane

Houthi rebels say they shot down coalition warplane

Yemen's Shia Houthi rebels said on Monday they shot down a warplane of the Saudi-led coalition, shortly after Morocco reported one of its fighter jets missing on a sortie. "The air defence of the tribes shot down a warplane over Wadi Nushur, in Saada," th
Published 12 May, 2015 12:00am
Libya hits Turkish ship as headed for port

Libya hits Turkish ship as headed for port

Libya's internationally recognised government attacked a Turkish-owned cargo vessel from ground and air, killing a seaman, after it entered territorial waters "without permission", a lawmaker said Monday. "The air force called on it several times to turn
Published 12 May, 2015 12:00am
Drug-resistant 'superbug' strain of typhoid spreads world-wide

Drug-resistant 'superbug' strain of typhoid spreads world-wide

An antibiotic-resistant 'superbug' strain of typhoid fever has spread globally, driven by a single family of the bacteria, called H58, according to the findings of a large international study. The research, involving some 74 scientists in almost two dozen
Published 12 May, 2015 12:00am
US admits must 'do better' on police practices

US admits must 'do better' on police practices

The United States acknowledged before the UN Monday that it has not done enough to uphold civil rights laws, following a string of recent killings of unarmed black men by police. Speaking before the United Nations Human Rights Council, a US representative
Published 12 May, 2015 12:00am
NSA chief says access to data must be 'timely'

NSA chief says access to data must be 'timely'

National Security Agency director Michael Rogers said Monday the intelligence agency needs "timely" access to data in any program which replaces one ruled illegal by an appeals court. Asked about last week's court ruling on the agency's massive bulk data
Published 12 May, 2015 12:00am
Expanded foreign language requirement mocked by Zimbabwe educators

Expanded foreign language requirement mocked by Zimbabwe educators

Zimbabwe's decision to make four foreign languages mandatory for pupils in state schools drew derision Monday from a senior educator who described the move as a "pipedream." Zimbabwe's state-controled media announced plans to make Chinese, French, Swahili
Published 12 May, 2015 12:00am
Jayalalithaa cleared of Corruption

Jayalalithaa cleared of Corruption

The head of India's largest Tamil party was cleared of corruption Monday, a verdict that sparked wild celebrations by supporters and paved the way for the return of one of the country's most powerful politicians. Former film star Jayalalithaa Jayaram was
Published 12 May, 2015 12:00am
US cyber commander says hackers to 'pay a price'

US cyber commander says hackers to 'pay a price'

The US strategy of "deterrence" for cyber-attacks could involve a wide range or responses, potentially including the use of conventional weapons, the nation's top cyber-warrior said Monday. Admiral Michael Rogers, who heads the US Cyber Command as well as
Published 12 May, 2015 12:00am
Airbus continues A400M tests, crash victims honoured

Airbus continues A400M tests, crash victims honoured

Airbus said Monday it would carry on with test flights of its A400M military transport plane despite the crash of one of the aircraft in Spain that killed four employees. Workers at Airbus factories around the world observed a moment of silence for the vi
Published 12 May, 2015 12:00am
IHC upholds Shafqat's execution orders

IHC upholds Shafqat's execution orders

The Islamabad High Court (IHC) on Monday upheld the execution order of a condemned prisoner, Shafqat Hussain, rejecting a plea seeking a judicial inquiry to determine his age by deeming it inadmissible. An IHC bench headed by Justice Athar Minallah had de
Published 12 May, 2015 12:00am
Summer demand: PSO seeks 1.82 million tonnes of oil products

Summer demand: PSO seeks 1.82 million tonnes of oil products

Pakistan State Oil Company is seeking 1.82 million tonnes of oil products for delivery over May to September, as temperatures rise boosting demand for power generation fuels, industry sources said. The state-owned company is seeking 50,000 tonnes of gasoi
Published 12 May, 2015 12:00am
Violation of code of conduct: ECP summons KP CS

Violation of code of conduct: ECP summons KP CS

The Election Commission of Pakistan (ECP) has summoned Chief Secretary Khyber Pakhtunkhwa on Thursday on reports regarding the violation of code of conduct for the local government elections, which is scheduled for May. The Awami National Party (ANP) comp
Published 12 May, 2015 12:00am
GEIC to ascertain independence of ECP, Nadra: Imran

GEIC to ascertain independence of ECP, Nadra: Imran

Based on the rigging evidences, the judicial commission will ascertain as to what extent independent were the Election Commission of Pakistan (ECP) and National Database and Registration Authority (Nadra) in conducting the 2013 general election.
Published 12 May, 2015 12:00am
PML-N urges GEIC to summon former ECP official as witness

PML-N urges GEIC to summon former ECP official as witness

Pakistan Muslim League-Nawaz (PML-N) counsel on Monday urged the General Election 2013 Inquiry Commission (GEIC) to summon Syed Sher Afghan, then Additional Secretary of the Election Commission of Pakistan (ECP), as witness in the matter.
Published 12 May, 2015 12:00am
Zardari felicitates Cameron on election victory

Zardari felicitates Cameron on election victory

Former President and Pakistan People's Party (PPP) Co-Chairman Asif Ali Zardari on Monday felicitated United Kingdom Prime Minister David Cameron on the electoral victory of his Conservative Party in the elections. Asif Zardadri, in a message to David Cam
Published 12 May, 2015 12:00am
Colgate-Palmolive Pakistan

Colgate-Palmolive Pakistan

Colgate-Palmolive Pakistan Ltd (COLG), one of the leading multinational companies started its operation in Pakistan during 1985. Lakson Group accrued the license from the Colgate-Palmolive Company, USA to market Colgate-Palmolive products in Pakistan. The
Published 12 May, 2015 12:00am
Colgate-Palmolive Pakistan

Colgate-Palmolive Pakistan

Colgate-Palmolive Pakistan Ltd (COLG), one of the leading multinational companies started its operation in Pakistan during 1985. Lakson Group accrued the license from the Colgate-Palmolive Company, USA to market Colgate-Palmolive products in Pakistan. The
Published 12 May, 2015 12:00am
Jubilee Life gets IFS rating

Jubilee Life gets IFS rating

Jubilee Life has become the first life insurance company in the private sector to be assigned the Insurer Financial Strength (IFS) Rating of AA+ (Double A Plus). Outlook on the assigned rating is 'Stable'. This rating was assigned by the JCR-VIS Credit Ra
Published 12 May, 2015 12:00am
Haideri rules out mid-term elections

Haideri rules out mid-term elections

Leader of JUI-F and Deputy Chairman Senate of Pakistan, Maulana Ghafoor Haideri has said that there is no chance of mid-term elections in the near future. He said this while speaking to media persons during his visit to Thatta on Monday after addressing a
Published 12 May, 2015 12:00am
July-April remittances hit $15 billion mark

July-April remittances hit $15 billion mark

Workers' remittances sent by overseas Pakistanis maintained a healthy growth and rose by 16 percent during first nine months of this fiscal year, ie, 2015 (FY15). According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted some $15 bill
Published 12 May, 2015 12:00am
PSM clarification

PSM clarification

Reference a news item entitled "PSM CEO treated shabbily for 'distorting facts'" carried by Business Recorder on 9th May 2015, it is to clarify that the National Assembly's Standing Committee on Industries and Production has appreciated the improve
Published 12 May, 2015 12:00am
13 suspects nabbed

13 suspects nabbed

Police nabbed 13 suspects during a search operation in various parts of the city on Monday. According to an official, police conducted search operation in slum areas in the limits of Sihala police station and arrested 13 suspected criminals.
Published 12 May, 2015 12:00am
Government urged to follow socio-economic model of Malaysia

Government urged to follow socio-economic model of Malaysia

Speakers at an international conference have urged East Asian countries including Pakistan to follow the socio-economic model of Malaysia for rapid progress, take advantage from Japanese education system for equipping masses with a clear vision and learn
Published 12 May, 2015 12:00am
NAB arrests suspect for fraud

NAB arrests suspect for fraud

National Accountability Bureau (NAB) has arrested Zia-ur-Rehman Zia, son of Ata-ur-Rehman. The accused was an OG-I officer at KASB Bank Ltd. Zia-ur-Rehman Zia was allegedly involved during his posting in KASB bank Shahra-e-Faisal Branch Karachi in debitin
Published 12 May, 2015 12:00am
Partly Facetious: Extensions reflect our national character

Partly Facetious: Extensions reflect our national character

"There is something to be said about reforming democracy world-wide. I mean the Conservatives won an overall majority with only 36% of the total votes cast, Labour came a distant second with 30% and Ukip with only 1 seat with 12% of the popular vote and t
Published 12 May, 2015 12:00am
Expanding Gadoon Industrial Estate: KP acquiring 200 acres of land

Expanding Gadoon Industrial Estate: KP acquiring 200 acres of land

A meeting held here with KP Assembly Speaker, Asad Qaiser in the chair Monday was told that 200 acres more land is being acquired to expand Gadoon Industrial Estate, Swabi. The meeting discussed expansion, granting model estate status to Gadoon Amazai Ind
Published 12 May, 2015 12:00am
LB polls in KP: 2,837 polling stations categorised as most sensitive

LB polls in KP: 2,837 polling stations categorised as most sensitive

In order to ensure a smooth, transparent and safe conduct of the Local Bodies Election 2015 scheduled to be held across the province on May 30, 2015, the IGP KP Nasir Khan Durrani has issued a comprehensive set of instructions to all the field formations
Published 12 May, 2015 12:00am
Sharjeel slams Mirza's outburst against Zardari

Sharjeel slams Mirza's outburst against Zardari

Sindh Information Minister Sharjeel Inaam Memon on Monday criticised former home minister Zulfiqar Mirza for what he called 'obscene' statements against PPP co-chairman Asif Ali Zardari and the party. "Mirza should be ashamed of the language he uses. I be
Published 12 May, 2015 12:00am
Quality of governance: PILDAT puts Punjab at top position

Quality of governance: PILDAT puts Punjab at top position

Pakistan Institute of Legislative Development and Transparency (PILDAT) has placed the Punjab government in the first position on account of quality of governance among all the four provinces while Khyber Pakhtunkhwa (KPK) gained 2nd position, Sindh and B
Published 12 May, 2015 12:00am
KP to begin provision of subsidised flour, edible oil soon

KP to begin provision of subsidised flour, edible oil soon

The government of Khyber Pakhtunkhwa will soon begin the issuance of special cards to be called as Insaf Cards to the poor and deserving people of the province for providing flour and edible oil to them on subsided rates. This was told to Chief Minister K
Published 12 May, 2015 12:00am
Ministry receives over Rs 70 billion through record Hajj applications

Ministry receives over Rs 70 billion through record Hajj applications

The Ministry of Religious Affairs and Interfaith Harmony has received over Rs 70 billion through record over 270,000 Hajj applications for Government Hajj Scheme. According to an official, the names of 71,000 successful applicants would be announced on Th
Published 12 May, 2015 12:00am
Heavy vehicles: Team formed to check violations

Heavy vehicles: Team formed to check violations

Commissioner Karachi Shoaib Ahmed Siddiqui has constituted a team to check violations of traffic rules and regulations by heavy vehicles at Northern bypass. The team including the officials of Excise department, traffic police as well as the officials of
Published 12 May, 2015 12:00am
Withdrawal of Mirza's security: IGP submits report in SHC

Withdrawal of Mirza's security: IGP submits report in SHC

The Sindh High Court on Monday was informed that a large number of the arms licences were issued in the name of Dr Zulifqar Mirza, his wife and son, which showed that he had formed his own private militia, which was violation the Constitution. IG Sindh su
Published 12 May, 2015 12:00am
Old loyalists: differences within PPP become more visible

Old loyalists: differences within PPP become more visible

The cracks have now become more visible within Pakistan People's Party (PPP) after the party leadership decided to publicly and legally take on former home minister Zulfiqar Mirza and his spouse Dr Fehmida Mirza, former Speaker National Assembly.
Published 12 May, 2015 12:00am
Liquor seized

Liquor seized

Pakistan Coast Guards (PCG) seized 1,993 bottles of fine quality of foreign brand liquor worth around Rs 22 millions, from coastal highway near Uthal Balochistan. The PCG officials received information from intelligence sources about the smuggling of liqu
Published 12 May, 2015 12:00am
SBP critical of proposed WHT levy on LCs

SBP critical of proposed WHT levy on LCs

The State Bank of Pakistan (SBP) has expressed concern over the proposed imposition of withholding tax on Letters of Credit (LCs) and further taxes on products and services offered by banks to their customers, in the upcoming budget (2015-16).
Published 12 May, 2015 12:00am
SBP critical of proposed WHT levy on LCs

SBP critical of proposed WHT levy on LCs

The State Bank of Pakistan (SBP) has expressed concern over the proposed imposition of withholding tax on Letters of Credit (LCs) and further taxes on products and services offered by banks to their customers, in the upcoming budget (2015-16).
Published 12 May, 2015 12:00am
Four more killed in Karachi

Four more killed in Karachi

Four people were killed and three others injured in different incidents of violence in the metropolis here on Monday. An unknown youth, 25, was gunned down by unknown armed men in Mubina Town, Gulzar-e-Hijri. The body was shifted to Abbasi Shaheed Hospita
Published 12 May, 2015 12:00am
Supply to CNG outlets delayed as SNGPL seeks LNG ownership

Supply to CNG outlets delayed as SNGPL seeks LNG ownership

The restoration of gas supply to Compressed Natural Gas (CNG) outlets of Punjab through imported Liquefied Natural Gas (LNG) has delayed, as the Sui-Southern Gas Pipelines Limited (SNGPL) wants the ownership of the imported commodity, it is learnt.
Published 12 May, 2015 12:00am
Dairy products: FBR mulling replacing ST zero-rating with ST exemption

Dairy products: FBR mulling replacing ST zero-rating with ST exemption

The Federal Board of Revenue (FBR) is planning to replace present sales tax zero-rating with sales tax exemption on the supply of dairy products in the coming budget (2015-16). Sources said on Monday that under SRO 670(1)/2013, finished goods and input ma
Published 12 May, 2015 12:00am
Dairy products: FBR mulling replacing ST zero-rating with ST exemption

Dairy products: FBR mulling replacing ST zero-rating with ST exemption

The Federal Board of Revenue (FBR) is planning to replace present sales tax zero-rating with sales tax exemption on the supply of dairy products in the coming budget (2015-16). Sources said on Monday that under SRO 670(1)/2013, finished goods and input ma
Published 12 May, 2015 12:00am
K-E launches drive against defaulters

K-E launches drive against defaulters

Karachi-Electric in collaboration with FIA and other law-enforcement agencies has launched a campaign, called `Operation Burq', against defaulters and those indulging in any form of power-theft in the city, said a K-E press release issued on Monday. The p
Published 12 May, 2015 12:00am
CoAS witnesses performance of FM-90 air defence missile system

CoAS witnesses performance of FM-90 air defence missile system

General Raheel Sharif, Chief of Army Staff visited Air Defence firing ranges near Karachi on Monday and witnessed firing of FM -90 air defence missile system, recently inducted in the Army. The exercise marked the culmination of the induction training of
Published 12 May, 2015 12:00am
JCP confirms additional judge SHC Iqbal Kalhoro

JCP confirms additional judge SHC Iqbal Kalhoro

The Judicial Commission of Pakistan (JCP) on Monday recommended for confirmation additional judge Sindh High Court Muhammad Iqbal Kalhoro whereas extension for a year to additional judge Syed Saeeduddin Nasir to the Parliamentary Committee on Judges Appoi
Published 12 May, 2015 12:00am
Cigarette packets: body meets today to review health warning issue

Cigarette packets: body meets today to review health warning issue

The committee constituted by Minister for Finance Ishaq Dar to review the issue of pictorial health warnings on cigarette packets is expected to meet on Tuesday (May 12) to discuss revenue loss and alternate measures, due to increase in size of Graphical
Published 12 May, 2015 12:00am
Prime Minister leaves for Kabul today

Prime Minister leaves for Kabul today

Prime Minister Nawaz Sharif is heading a high-level delegation to Afghanistan today (Tuesday). Foreign Office spokesperson Qazi Khalilullah said that the Prime Minister is undertaking the visit on the invitation of Afghan President Ashraf Ghani. He will a
Published 12 May, 2015 12:00am
NAB arrests company's CEO

NAB arrests company's CEO

The National Accountability Bureau (NAB) (Rawalpindi) has arrested Ch Muhammad Arif, Chief Executive Officer (CEO), Rose Associates on Monday in a case of wilful loan default of Rs 308 million. The accused will be produced before the Accountability Court
Published 12 May, 2015 12:00am
Baba Ladla back in Karachi?

Baba Ladla back in Karachi?

A main character of ongoing gang war in Lyari, Baba Ladla, has reportedly returned to Karachi and is trying to reorganize his group. Noor Muhammad aka Baba Ladla has arrived in Karachi and is trying to reorganize his network. According to police sources,
Published 12 May, 2015 12:00am
Opposition seeks National Assembly body's pre-budget meeting

Opposition seeks National Assembly body's pre-budget meeting

Pakistan People's Party (PPP), Pakistan Tehreek-e-Insaf (PTI) and Muttahida Qaumi Movement (MQM) have submitted requisition in the National Assembly Secretariat to call an immediate meeting of the Standing Committee on Finance discuss budgetary proposals
Published 12 May, 2015 12:00am
PBIF chief against opening market to India unilaterally

PBIF chief against opening market to India unilaterally

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain said here on Monday that Pakistan should not be lured by catchy slogans regarding opening of its market to India unilaterally as such a move will only damage the backbone o
Published 12 May, 2015 12:00am
NCCPL's settling banks: SECP tightens credit rating criterion

NCCPL's settling banks: SECP tightens credit rating criterion

The Securities and Exchange Commission of Pakistan (SECP) has revised the eligibility criterion for the settling banks of National Clearing Company of Pakistan Limited (NCCPL). "The minimum short term credit rating criterion for settling banks has been pr
Published 12 May, 2015 12:00am
Meezan Bank wins six awards by Asset Triple A

Meezan Bank wins six awards by Asset Triple A

Meezan Bank has won six awards by Asset Triple A Islamic Finance Awards 2015. These categories include Best Islamic Bank Pakistan, Best Islamic Retail Bank Pakistan, Best Islamic Trade Finance Bank Pakistan, Best Islamic Investment Bank Pakistan, Best Suk
Published 12 May, 2015 12:00am
RAW establishing special cell: Hashwani condemns Indian design

RAW establishing special cell: Hashwani condemns Indian design

Renowned businessman and Chairman Hashoo Group Sadruddin Hashwani has said that Indian intelligence Agency 'RAW' and Indian government have always conspired against progress and prosperity of Pakistan. However, their designs always failed due to effective
Published 12 May, 2015 12:00am
Saulat Mirza's execution today

Saulat Mirza's execution today

The death row prisoner Saulat Mirza will be executed in Central Jail Machh in Bolan district on Tuesday early morning. Superintendent Machh Jail Quetta, Yaqoob Zehri told APP that farewell meeting of the family members including his wife, son, brothers an
Published 12 May, 2015 12:00am
'Prahalad temple to be rehabilitated after 23 years'

'Prahalad temple to be rehabilitated after 23 years'

Pakistan Evacuee Properties Trust (PEPT) Chairman Siddique-ul-Farroq has announced to rehabilitate the Prahalad temple after 23 years of its destruction. Addressing a press conference at Multan Press Club here on Monday, Siddique-ul-Farooq said, "We will
Published 12 May, 2015 12:00am
Five export sectors oppose proposed increase in ST

Five export sectors oppose proposed increase in ST

Chairmen of five export sector associations, including the Value Added Textile Associations, have vehemently opposed the proposal of the Federal Board of Revenue for increase in the sales tax from two percent to five percent.
Published 12 May, 2015 12:00am
PTEA seeks zero-rated ST facility

PTEA seeks zero-rated ST facility

Pakistan Textile Exporters Association (PTEA) has demanded the government to allow zero rating sales tax facility on export oriented-textile chain in the coming budget 2015-16 as it will help to restore the competitive edge for Pakistani textiles in inter
Published 12 May, 2015 12:00am
Bosan for more investment in agriculture sector

Bosan for more investment in agriculture sector

Federal Minister for National Food Security and Research Sikandar Hayat Bosan said on Monday that provincial governments should invest more on agriculture sector uplift and well being of farming community. While addressing a roundtable conference at Multa
Published 12 May, 2015 12:00am
'PTI committed to following EC's rules'

'PTI committed to following EC's rules'

Vice Chairman Pakistan Tehreek-e-Insaf (PTI) Shah Mehmood Qureshi on Monday said that PTI is committed to follow the rules and regulations of the Election Commission (EC). Talking to newsmen outside the office of EC here, he expressed reservations on rece
Published 12 May, 2015 12:00am
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