The US dollar hit its lowest against the euro in over two weeks on Wednesday after the European Central Bank kept monetary policy steady despite recent market volatility and Bund yields extended their rise. The ECB sees no reason to adjust its monetary po

The US dollar was on track to post its biggest one-day percentage decline against a basket of major currencies in nearly two years on Tuesday on expectations that Greece would reach a deal with its creditors. Greece's creditors are close to finishing a dr

China's yuan firmed against the dollar on Wednesday after the central bank set the daily guidance rate at a one-week high, but some dollar purchases due to clients' profit-taking helped to cap the gains, traders said. The People's Bank of China (PBoC) set

The Thai baht hit a one-week high on Wednesday after Thailand's finance minister said there was no need to cut interest rates further, while Asian currencies rose broadly as the dollar lost some momentum. Hopes for progress in Greek debt talks and a huge

Sri Lankan rupee forwards ended firmer on Wednesday as exporters sold dollars amid expectations of a further rise in the local currency while the spot currency was steady due to selling of the greenback by state-run banks, dealers said. Three-month forwar

Sterling sank by a full cent against the dollar on Wednesday after a survey of the British service sector came in sharply below forecasts, pointing to another subdued round of overall economic growth in the second quarter. The slowdown from April in the s

The Australian dollar marched higher on Wednesday after data showed the economy grew at its fastest pace in a year last quarter, adding to the case against a rate cut in the near term. The Australian dollar jumped as much as half a cent to $0.7819 after d

Spain's economic crisis and successive corruption scandals have led to looser environmental regulations which have taken a huge toll on the environment, Greenpeace said in a report published Wednesday. The environment is "one of the main victims of the cr

A free port on the fringes of Geneva where billions of dollars of fine art is stored is under scrutiny for tax evasion and money laundering after a high-profile case involving a top Swiss dealer and a Russian billionaire. Behind its nondescript facade, th

Fighting surged in east Ukraine on Wednesday as Kiev accused pro-Russian forces of launching a "large-scale" attack in breach of a tenuous cease-fire. Rebels claimed that 15 separatist fighters and civilians were killed as fresh clashes flared, but denied

Dozens of people broke through a police cordon on Wednesday as they marched towards the site of a sunken cruise ship in the Yangtze River to demand news of missing relatives. Rescuers searched for more than 400 missing people, many of them elderly, but ho

One man was arrested and a knife-wielding suspect shot dead in Boston in connection with an alleged terror plot targeting law enforcement and military personnel, police said Wednesday. The US attorney's office identified the suspect in custody as David Wr

Masked men, some wielding hammers, stormed the office of a human rights organisation in the southern Russian region of Chechnya on Wednesday, smashing computers, doors and office equipment. The Russian Committee Against Torture, one of only two independen

From sabotage of energy installations to cyber attacks and declarations of "independence" by Russian-speaking border villages, the Baltics are preparing for possible flashpoints of war. Ukraine's conflict with Moscow-backed separatists has unnerved Latvia

French investigators on Wednesday questioned six officials who served under ex-president Nicolas Sarkozy over alleged fraud in awarding contracts to polling institutes, said a source close to the case. Three of Sarkozy's former advisors, as well as his fo

The BBC on Wednesday apologised and launched an internal inquiry after a tweet sent from the account of one of its producers said Queen Elizabeth II had died, during a test of coverage for a royal death. The first of a series of tweets was sent from the a

Top seed Serena Williams set up a semi-final clash with Timea Bacsinszky at the French Open after defeating Italian 17th seed Sara Errani 6-1, 6-3 on Wednesday. Williams, who is looking for her third title at Roland Garros and 20th career Grand Slam crown

Andy Murray beat David Ferrer 7-6 (7/4), 6-2, 5-7, 6-1, in the French Open quarter-finals on Wednesday to set up a last-four showdown with Novak Djokovic. Third seed Murray made it 15 consecutive wins on clay this year by beating the number seven seed Fer

Novak Djokovic crushed nine-time champion Rafael Nadal 7-5, 6-3, 6-1 to move into the French Open semi-finals Wednesday, condemning the great Spaniard to just his second defeat in 72 matches at Roland Garros. It was world number one and top seed Djokovic'

A game of political football became a friendly in every sense of the word on Tuesday as the New York Cosmos defeated Cuba in an exhibition match that underscored thawing ties between the United States and its bitter Cold War foe. The first appearance on C

After successful tour of Zimbabwe for two Twenty20 and three One-Day Internationals in May, the Pakistan Cricket Board is in talks with Sri Lanka and Bangladesh cricket authorities for short tours to the country, it is learnt. Board sources claim that the

West Indies' top-order batting failed to capitalise on excellent batting conditions in reaching lunch at 85 for three on the opening day of the first Test of the two-match series at the Windsor Park Stadium in Dominica on Wednesday. Denesh Ramdin's decisi

Interpol put two top former FIFA officials on its "red notice" wanted list at the request of US authorities on Wednesday as their investigation into corruption at soccer's governing body gathered pace. The move by the international police body came the da

Opening batsmen Ahmed Shehzad and Shan Masood has made a comeback to the Test squad while ace spinner Saeed Ajmal is dropped as Pakistan announces a 15-member squad for the upcoming tour of Sri Lanka. Ahmed Shehzad, aged 23, was dropped from the Test and

Myanmar brought ashore more than 700 "boat people" it had kept at sea for days aboard a seized vessel, as the United States on Wednesday called on the country to help solve a migrant crisis by recognising the rights of its Muslim Rohingya minority. US Pre

The FBI warned lawmakers Wednesday there was no way to monitor encrypted online communications among Islamic State sympathisers and called for new laws to require technology firms to unlock any secret messages among jihadists. The IS group often moves sen

Burundi's parliamentary polls scheduled for Friday will be postponed until a new date is set by the electoral commission, an aide to the president said, with the country rocked by weeks of political crisis. "It is sure. There will be no elections on Frida

Interpol has identified over 4,000 foreign fighters who have joined jihadists groups in conflict zones, mainly in Syria and Iraq, Interpol head Jurgen Stock said Wednesday in Barcelona. "In September 2014 less than 900 foreign terrorist fighters had been

The Islamic State group is a "global threat" that will take a generation or more to defeat, Washington's envoy for the US-led coalition fighting the jihadists said Wednesday. Despite "strategic momentum" against IS - or Daesh as he called it - General Joh

At least 37 people, including 10 children, were killed in government barrel bomb attacks in northern Syria on Wednesday, a monitoring group said. The Syrian Observatory for Human Rights said the deaths came in three incidents, in Aleppo province in the no

Latvia's parliament on Wednesday elected Defence Minister Raimonds Vejonis as the Baltic state's new president, making him the 28-member European Union's first Green Party head of state. His victory comes as the small Nato and eurozone member of two milli

The Islamic State jihadist group will use its seizure of a dam in Ramadi to mount fresh attacks on pro-government forces preparing to besiege the city, Iraqi officials warned Wednesday. The day after the US-led coalition opposing IS met in Paris, General

Iran's oil production could be lifted by one million barrels per day (bpd) within half a year of Western sanctions being lifted, Oil Minister Bijan Zanganeh forecast Wednesday. Zanganeh's forecast, delivered before a looming June 30 deadline to finalise I

Iran's oil production could be lifted by one million barrels per day (bpd) within half a year of Western sanctions being lifted, Oil Minister Bijan Zanganeh forecast Wednesday. Zanganeh's forecast, delivered before a looming June 30 deadline to finalise I

At least six people were killed on Wednesday in an explosion in the north-east Nigerian city of Maiduguri, a civilian vigilante assisting the military against Boko Haram and a witness told AFP. "We have so far recovered six dead bodies. We are still worki

German Chancellor Angela Merkel and French President Francois Hollande acknowledged "the necessity" to lower primary surplus targets during phone talks about a debt deal with Prime Minister Alexis Tsipras Wednesday, Greek sources said. The three leaders "

German Chancellor Angela Merkel and French President Francois Hollande acknowledged "the necessity" to lower primary surplus targets during phone talks about a debt deal with Prime Minister Alexis Tsipras Wednesday, Greek sources said. The three leaders "

State Bank of Pakistan (SBP), amending Prudential Regulations (R-1), has announced it will revise instructions on "Capital Adequacy Framework for Microfinance Banks" in line with international best practices and Basel Capital Framework.

Pakistan Institute of Corporate Governance (PICG) celebrated its 10 years of existence at a local hotel recently with a gala dinner followed by an exquisite solo dance performance. The event was restricted to PICG members and those individuals who had att

Punjab University Vice Chancellor Professor (Dr) Mujahid Kamran has said around 1.5 billion Muslims in the world have hardly made any contribution in creating new knowledge in the past few centuries which is a clear violation of instructions by the Holy Q

The HBL Asset Management, a wholly-owned subsidiary of Habib Bank Limited (HBL), is all set to acquire the PICIC Asset Management Company. Once materialised, the Rs 4.1 billion deal would see the HBL Asset Management joining the ranks of the country's lar

Hundreds of the government employees on Wednesday staged protest in front of the main gate of Pak-Secretariat demanding 100 percent increase in salaries. The government employees working in Pak-Secretariat staged protest in front of the main gate of Pak S

Thanks to the vision of the first State Bank's Governor to lay the foundations of a Pakistani insurer, Premier Insurance came into being in 1952. The insurer has evolved over time and maintains its presence while being listed on all stock exchanges of the

Thanks to the vision of the first State Bank's Governor to lay the foundations of a Pakistani insurer, Premier Insurance came into being in 1952. The insurer has evolved over time and maintains its presence while being listed on all stock exchanges of the

Engineering Development Board (EDB) has proposed imposition of additional duty on import of 58 more localised parts being used in cars, motorcycles and tractors in the federal budget 2015-16, well informed sources told Business Recorder. EDB, in it

Engineering Development Board (EDB) has proposed imposition of additional duty on import of 58 more localised parts being used in cars, motorcycles and tractors in the federal budget 2015-16, well informed sources told Business Recorder. EDB, in it

Federal Minister for Planning, Development and Reforms Professor Ahsan Iqbal on Wednesday proposed to create US-Pak Knowledge Corridor to support the bilateral ties between the two countries that spanned more than six decades. Giving his opening remarks a

Prime Minister Nawaz Sharif on Wednesday said that Pakistan and China were 'Iron Brothers' co-operating closely in all domains with a common vision of building a better future for their peoples and for promoting peace in the region. He said this while tal

Prime Minister Nawaz Sharif has expressed shock and grief at the tragic sinking of a ferry on Yangtze River. The boat was carrying 458 tourists, mostly from China. In a letter to his Chinese counterpart, Premier Li Keqiang, the Prime Minister offered his

Three terrorists were killed and a security man martyred in clash after attack on a security check post here on Wednesday. Official sources said that terrorists attacked Khadim Shaheed check post in FR Darya Ba area of Bannu. A soldier was martyred in the

Miscreants on Wednesday blown up a woman shopping centre in Tank, however, no casualties reported. According to details, terrorists exploded the building through a remote-controlled bomb, which completely destroyed the shopping centre in Tank, a small tow

President ANP Asfandyar Wali Khan has asked the PTI government in Khyber Pakhtunkhwa to step down with immediate effect and said that after confessing rigging in local bodies' polls PTI has no right to remain in power in the province. Briefing media after

The Ministry of National Food Security and Research (MNFS&R) has proposed a decrease in import duty on agriculture machinery from the existing 30 percent to nine percent and to provide a targeted subsidy to the farmers to enhance productivity as well as t

The Ministry of National Food Security and Research (MNFS&R) has proposed a decrease in import duty on agriculture machinery from the existing 30 percent to nine percent and to provide a targeted subsidy to the farmers to enhance productivity as well as t

Islamabad Police arrested 72 suspects during search operation in various areas of the city, a police spokesman said. IGP Islamabad Tahir Alam Khan directed all SDPOs and SHOs to enhance patrolling as well as checking in various areas of the city and condu

"Sepp Blatter has resigned."

Pakistan has reiterated its unflinching commitment to the United Nations peacekeeping missions from Latin America to Africa to Europe to Asia. Pakistan's Permanent Mission to the United Nations, European Office said this while participating in an event at

The University of Karachi and Newports Institute of Communication & Economics (NICE) signed an agreement for the progress of research and educational activities. Addressing the ceremony, Vice Chancellor of University of Karachi Professor Dr Muhammad Qaise

Trade Development Authority of Pakistan's (TDAP) chief executive S M Muneer has urged the Canadian investors to enter into joint ventures with their Pakistani counterparts in different sectors, including energy, textile, agriculture, dairy, marble, etc. H

Provisional fertilizer off-take figures show 11 percent MoM increase in urea sales for May'15. According to a report issued by Arif Habib Limited Research on Wednesday, the urea sales grew to 409k tons during the month under review. While a YoY account sh

Pakistan is planning to organise a Mango Festival in Malaysia for the promotion of Pakistani fruit. The mango festival will be organised by Pakistan High Commission in Kuala Lumpur in collaboration with Trade Development Authority of Pakistan (TDAP), All

The Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani has directed Regional Police Officers (RPOs) and District Police Officers (DPOs) that police officials found involved in transgressing their authority in violation of election cod

A notorious robber with head bounty of one million rupees was killed and a cop injured in exchange of fire with police here on Wednesday. SSP Javed Jasmkani said the police came across robbers in Pijo area of Nawabshah. The robbers upon sight of police st

Economic observers foresee a 'major boost' for the cement industry as the National Economic Council (NEC) has cleared Rs 1.514 trillion development plan for FY16, showing a growth of 29 percent year-on-year (YoY). The federal Public Sector Development Pro

National Electric Power Regulatory Authority (Nepra) is said to have filled the slot of one legal advisor and one assistant legal advisor by violating its rules. Nepra had sought applications for recruitment of legal advisor and two assistant legal adviso

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has urged the government to save the local paper and board industry from being collapsed by provide it a level-playing field. "On an average a person in Pakistan consumes 2

Saadiq, Standard Chartered's Islamic Banking division, has enhanced its product suite by introducing Saadiq Home Finance for its retail clients in Pakistan. Saadiq Home Finance is a Shariah compliant home finance solution based on the Islamic structure of

Muttahida Qaumi Movement Chief Altaf Hussain has expressed deep grieve and sorrow over the death of party worker of Unit 117, Baldia Town Sector, Wassem Dehlvi due to alleged police torture while in custody of Aziz Bhatti police. In a statement issued her

A Deputy Superintendent Police (DSP) and Station Housing Officer (SHO) have been suspended as a result of the death of a detained party worker of Muttahida Qaumi Movement (MQM). The MQM has announced 2-day mourning over the incident. Business remained clo

Five Indian nationals were arrested by the Special Branch of police near Karachi airport on Wednesday. Reports said the special branch took the action on intelligence that Indian nationals were overstaying after the expiry of their visas and that they wer

K-Electric on Wednesday raided industrial areas of Orangi where big commercial users were caught stealing electricity. "Apart from a few FIRs, thieves were apprehended by Law-Enforcing Agencies," said a K-Electric spokesman. The spokesman said the ongoing

The Frontier Corps on Wednesday arrested two suspected terrorists of a banned outfit Baloch Liberation Army (BLA) in Hub area of Balochistan. According to FC spokesman, the arrested terrorists including BLA commander Sorat Jan Marri were taken into custod

Inspector General of Police, Sindh, Ghulam Haider Jamali has constituted a high level inquiry committee to probe alleged custodial killing of a political worker, Muhammad Waseem, here on Wednesday. Karachi Police spokesman Atiq Shaikh told journalists tha

Up to 56,314 victims of different emergencies were rescued by the Punjab Emergency Service (Rescue 1122) while conducting 54,923 rescue operations in May alone, with an average response time of less than seven minutes. The emergency calls to which Rescue

Khyber Pakhtunkhwa Minister for Revenue, Ali Amin Gandapur, who was arrested for allegedly carrying ballots from polling stations during local bodies' elections in Dera Ismail Khan on Wednesday, granted bail after one-day physical remand. According to det

Federal Tax Ombudsman (FTO) has strongly recommended to the Federal Board of Revenue (FBR) to amend fiscal laws in budget (2015-16), separate functions of FBR and Revenue Division, expedite payment of refunds, hassle-free environment for claimants and str

"The Punjab government and the Punjab Information Technology Board have launched a project aiming at eliminating sale and purchase of fake stamp papers while their online verification will be possible through mobile phone or the Internet." Senior Member o

Treatment centre for newborn babies suffering from deformity of bones was made functional at the Lahore General Hospital (LGH) here on Wednesday. Post Graduate Medical Institute and Ameer Uddin Medical College Principal Professor Anjum Habib Vohra said th

The Provincial Development Working Party Punjab (PDWP) approved 30 development schemes of infrastructure, irrigation and health sectors with an estimated cost of Rs 25.457 billion including three flood protection projects costing Rs 6 billion. These schem

The Lahore Chamber of Commerce and Industry has hoped that sufficient funds will be allocated for the energy sector in the Federal Budget 2015-16 to bridge the gap between energy demand and supply. LCCI Senior Vice President Mian Nauman Kabir in a stateme

Pakistan Awami Tehreek Secretary General Khurram Nawaz Gandapur has claimed that a report issued by the Pakistan Bureau of Statistics (PBS) Survey has revealed false claims by the Punjab government's development programmes. He has claimed that compared to

A 12-member delegation of Huawei Telecommunication Company visited the University of Engineering and Technology (UET) Peshawar for "On Campus Internship Interviews" here on Wednesday. The delegation also included four Chinese nationals. The delegation was

The Lahore High Court has directed the Brothers Sugar Mills managing director to appear before the court on June 5 to explain as to why he refused to pay for sugarcane to a petitioner farmer. The court has told the Punjab Cane Commissioner and Kasur Distr

Rain-thundershower with dust-storm is expected Thursday (today) at scattered places in Kashmir, Islamabad, upper Punjab (Rawalpindi, Gujranwala, Lahore divisions), Malakand & Hazara divisions, while at isolated places in Sargodha, Faisalabad, Sahiwal, Bah

The Supreme Court on Wednesday expressed displeasure over Capital Development Authority (CDA) top brass, who repeatedly failed to submit buildings' commercialisation details and hinted at referring the matter to top anti-graft body. A two-member bench of

Sunsilk unveiled its much anticipated Fashion Edition Bottles for 2015 in an exclusive fashionable gathering held at Area 51. The event was attended by Pakistan's most celebrated fashion designers, celebrities, socialites and media. Sunsilk started an ini

The World Bank on Tuesday approved $125 million to Pakistan for supporting the restoration of resilient flood protection infrastructure and the strengthening of government capacity to manage disasters and climate variability. Pakistan is vulnerable to adv

Chief Justice of Pakistan Justice Nasirul Mulk has observed during the haring of petitions against the 18th and 21st Constitutional Amendment on Wednesday that the Supreme Court may exercise its advisory jurisdiction in response to a presidential referenc

The Federal Board of Revenue (FBR) has proposed doubling of sales tax from 5 to 10 percent on wide range of machinery and equipment/apparatus irrespective of its type in the coming budget (2015-16). Sources told Business Recorder that the proposal

Advisor to Chief Minister on Health Khawaja Salman Rafiq has said family planning facilities will also be provided in tertiary-care hospitals so that millions of visitors can be sensitised about benefit of small family unit. While addressing a seminar org

The State Minister for Information Technology Anusha Rahman on Wednesday said facilitating the educated and tech-literate young people through technological advancement is priority of the government. She was speaking at a ceremony held here to launch Mobi

Ambassador of Mexico, Ulises Canchola called on Punjab Chief Minister Muhammad Shahbaz Sharif, here Wednesday. Prospects of promotion of co-operation in different sectors between Pakistan and Mexico were discussed during the meeting. Talking to Mexican am

More candidates of different political parties including PPP, JUI-F and independent candidates continued rejecting local bodies' polls to mount pressure on the government and Election Commission for re-polling in their respective union councils. Wednesday

With the new Auto Policy about to be announced by the federal government, local auto assemblers have agreed to share technical standards of cars with the Engineering Development of Board (EDB). This agreement was reached between the three leading passenge

A tiff between civil servants and Income Tax Officers (ITOs) has worsened following a decision to promote ITOs in BS-19 on June 8, 2015, putting FBR officials in an uncertain state; it was learnt here on Wednesday. According to sources, some 45 ITOs were

Pakistan Tehreek-e-Insaf lawyer Abdul Hafeez Pirzada Wednesday objected to Pakistan Muslim League-Quaid-e-Azam's request of summoning Returning Officers in 'General Elections Inquiry Commission' for cross examination. The three-member commission headed by

Provincial Minister for Excise and Taxation Mujtaba Shujaur Rehman has claimed that more research facilities will be provided to young doctors of oncology and research registrars will be appointed where ever required. He told various delegations of doctor

Ministry of Industries and Production (MoI&P) is unlikely to support Pakistan Steel Mills (PSM) proposal regarding a further increase in Regulatory Duty (RD) to 30 per cent from Rs 12.5 per cent on HR Steel, well informed sources told Business Recorder