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Apr 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-07-23
Canada wholesale trade unexpectedly drops in May

Canada wholesale trade unexpectedly drops in May

Canadian wholesale trade slumped in May, giving back some of the previous two months' hefty gains, as sales of motor vehicles tumbled, data from Statistics Canada showed on Monday. Sales fell by 1.0 percent, exceeding economists' forecasts for a flat read
Published 23 Jul, 2015 12:00am
Travelers profit beats estimates

Travelers profit beats estimates

Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly operating profit as catastrophe losses halved and underwriting gains doubled. The company, led by industry veteran Jay Fishman, has aggressively raised insurance p
Published 23 Jul, 2015 12:00am
Travelers profit beats estimates

Travelers profit beats estimates

Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly operating profit as catastrophe losses halved and underwriting gains doubled. The company, led by industry veteran Jay Fishman, has aggressively raised insurance p
Published 23 Jul, 2015 12:00am
Coca-Cola earnings rise despite dollar drag

Coca-Cola earnings rise despite dollar drag

Coca-Cola reported higher quarterly profits Wednesday as increased sales in North America offset lower revenues overseas due in part to the strong dollar. Net income for the second quarter rose 19.8 percent to $3.1 billion. Revenues dropped 3.3 percent to
Published 23 Jul, 2015 12:00am
Coca-Cola earnings rise despite dollar drag

Coca-Cola earnings rise despite dollar drag

Coca-Cola reported higher quarterly profits Wednesday as increased sales in North America offset lower revenues overseas due in part to the strong dollar. Net income for the second quarter rose 19.8 percent to $3.1 billion. Revenues dropped 3.3 percent to
Published 23 Jul, 2015 12:00am
Japan government says won't meet FY 2020 fiscal discipline targets

Japan government says won't meet FY 2020 fiscal discipline targets

Japan's government said on Wednesday that it will not achieve its target of returning to a primary budget surplus in fiscal 2020, suggesting further steps will be needed to boost revenue and lower spending. The target is considered an important checkpoint
Published 23 Jul, 2015 12:00am
Microsoft posts record loss as it writes down Nokia

Microsoft posts record loss as it writes down Nokia

Microsoft Corp reported a $3.2 billion quarterly net loss, its biggest ever, as the company wrote down its Nokia phone business and demand fell for its Windows operating system. The company took a charge of $7.5 billion in the fourth quarter related to th
Published 23 Jul, 2015 12:00am
Microsoft posts record loss as it writes down Nokia

Microsoft posts record loss as it writes down Nokia

Microsoft Corp reported a $3.2 billion quarterly net loss, its biggest ever, as the company wrote down its Nokia phone business and demand fell for its Windows operating system. The company took a charge of $7.5 billion in the fourth quarter related to th
Published 23 Jul, 2015 12:00am
Apple gives weak forecast, shares fall nearly 7 percent

Apple gives weak forecast, shares fall nearly 7 percent

Apple Inc shares slumped nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and it missed some targets for iPhone sales. The shares dropped to $121 after the company released its results on Tuesday, from
Published 23 Jul, 2015 12:00am
Apple gives weak forecast, shares fall nearly 7 percent

Apple gives weak forecast, shares fall nearly 7 percent

Apple Inc shares slumped nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and it missed some targets for iPhone sales. The shares dropped to $121 after the company released its results on Tuesday, from
Published 23 Jul, 2015 12:00am
South African inflation up

South African inflation up

South Africa's annual inflation rate rose slightly to 4.7 percent in June, official data showed Wednesday, ahead of a central bank decision that could see interest rates increase for the first time in a year. The 0.1 percent rise in inflation from the pre
Published 23 Jul, 2015 12:00am
Boeing earnings fall on tanker charge

Boeing earnings fall on tanker charge

US aerospace giant Boeing reported lower profits Wednesday and trimmed its full-year forecast following a previously-announced charge on an aerial refuelling tanker program for the US Air Force. Earnings for the second quarter fell 32.8 percent to $1.1 bi
Published 23 Jul, 2015 12:00am
Boeing earnings fall on tanker charge

Boeing earnings fall on tanker charge

US aerospace giant Boeing reported lower profits Wednesday and trimmed its full-year forecast following a previously-announced charge on an aerial refuelling tanker program for the US Air Force. Earnings for the second quarter fell 32.8 percent to $1.1 bi
Published 23 Jul, 2015 12:00am
Sri Lanka's trade deficit widens

Sri Lanka's trade deficit widens

Sri Lanka's trade deficit widened to $702.9 million in May from $469.7 million a year earlier, central bank data showed on Wednesday. Exports for the month were $882.5 million, down 0.1 percent from a year earlier. Imports rose 17.2 percent to $1.59 billi
Published 23 Jul, 2015 12:00am
Higher costs to attract eyeballs weigh on Yahoo forecast

Higher costs to attract eyeballs weigh on Yahoo forecast

Yahoo Inc forecast lower-than-expected revenue for the current quarter as it struggles to revive its core online advertising business and spends more to attract users to its websites. Shares of Yahoo were marginally down at $39.34 in after-market trading.
Published 23 Jul, 2015 12:00am
Higher costs to attract eyeballs weigh on Yahoo forecast

Higher costs to attract eyeballs weigh on Yahoo forecast

Yahoo Inc forecast lower-than-expected revenue for the current quarter as it struggles to revive its core online advertising business and spends more to attract users to its websites. Shares of Yahoo were marginally down at $39.34 in after-market trading.
Published 23 Jul, 2015 12:00am
Australia's interest rate cuts 'on table' as inflation stays soft

Australia's interest rate cuts 'on table' as inflation stays soft

Further interest rates cuts remain "on the table", Australia's central bank chief said Wednesday, as new official data showed that Australian consumer prices rose 0.7 percent in the three months to June, keeping annual inflation subdued. Reserve Bank of A
Published 23 Jul, 2015 12:00am
Opec sees oil drop as short-term, expects stronger demand

Opec sees oil drop as short-term, expects stronger demand

A drop in oil prices this month is likely to be short-term and will not deflect Opec from its policy of keeping output high to defend market share, delegates from Gulf Opec members and other nations said. Falling Chinese stock markets and the Greek debt c
Published 23 Jul, 2015 12:00am
US home sales approach 8-1/2-year high

US home sales approach 8-1/2-year high

US home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year. The National Association
Published 23 Jul, 2015 12:00am
Top Middle East markets up; banks lift Abu Dhabi to eight-month high

Top Middle East markets up; banks lift Abu Dhabi to eight-month high

Most major Middle East stock markets rose on Wednesday on positive second-quarter earnings and news that the United Arab Emirates would cut domestic diesel prices. Saudi Arabia's main index added 0.5 percent, supported by National Petrochemical Co (Petroc
Published 23 Jul, 2015 12:00am
Nikkei snaps six-day winning streak

Nikkei snaps six-day winning streak

Japanese shares snapped a six-day winning streak on Wednesday, pressured by declines on Wall Street with Apple Inc -related stocks stumbling after the tech giant's revenue forecast missed market expectations. The Nikkei share average dropped 1.0 percent t
Published 23 Jul, 2015 12:00am
IBM, United Tech drag Dow

IBM, United Tech drag Dow

US stocks closed lower on Tuesday as results from IBM and United Technologies dampened early optimism over earnings season and after-the-bell declines in major tech shares suggested losses would continue on Wednesday. The Dow fell 1 percent, with IBM and
Published 23 Jul, 2015 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell on Wednesday as local technology shares took a hit after Apple Inc forecast a weaker revenue outlook and missed some of its smartphone shipment targets. Selling in shares of Apple's Taiwanese suppliers, which make many of the components
Published 23 Jul, 2015 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices rose on Tuesday after weak corporate results hurt US stocks and fuelled demand for safe-haven US government debt, while expectations that the Federal Reserve could hike rates in September capped gains. With the focus shifting away fro
Published 23 Jul, 2015 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices rose on Tuesday after weak corporate results hurt US stocks and fuelled demand for safe-haven US government debt, while expectations that the Federal Reserve could hike rates in September capped gains. With the focus shifting away fro
Published 23 Jul, 2015 12:00am
Hong Kong shares down

Hong Kong shares down

Hong Kong stocks fell on Wednesday, tracking losses in overseas markets, with tech shares leading the decline. The Hang Seng index fell 1.0 percent, to 25,282.62, while the China Enterprises Index lost 1.2 percent, to 11,734.27 points. Market sentiment wa
Published 23 Jul, 2015 12:00am
China stocks mixed

China stocks mixed

China stocks closed mixed on Wednesday, with volatility easing as investor sentiment calmed following the market's two-week-old rebound from an earlier collapse. The key Shanghai Composite Index gained 0.2 percent, to 4,026.05 points, up for the fifth con
Published 23 Jul, 2015 12:00am
European stocks hit by ripple effects from Apple

European stocks hit by ripple effects from Apple

European shares dropped on Wednesday, dragged down by tech stocks after Apple Inc's revenue forecast fell short of estimates, as the quarterly earnings season gathered pace in Europe and on Wall Street. The FTSEurofirst 300 index of top pan-European share
Published 23 Jul, 2015 12:00am
Australian stocks drop

Australian stocks drop

Australian shares dipped 1.61 percent on Wednesday with broad-based losses as investors took profits after six days of gains. The S&P/ASX 200 index fell 92.115 points to 5,614.600 at the close of trade. The benchmark rose 0.17 percent and touched a six-we
Published 23 Jul, 2015 12:00am
Indian shares end at three-month high

Indian shares end at three-month high

Indian stocks marked their highest close in more than three months on Wednesday, driven by value-buying in beaten-down stocks, while the adoption of a select committee report on a key national tax bill in parliament also helped. The NSE index gained 1.22
Published 23 Jul, 2015 12:00am
FTSE sets one-week low as mining and tech shares sink

FTSE sets one-week low as mining and tech shares sink

Britain's top share index dropped to its lowest level in more than a week on Wednesday after a poorly received earnings report from Apple hit tech stocks and weaker metals prices and an update from BHP Billiton dragged down miners. The UK mining index sli
Published 23 Jul, 2015 12:00am
Yuan firms slightly
Currency

Yuan firms slightly

China's yuan inched up against the dollar on Wednesday after the central bank set the official guidance rate at a one-week high, but traders said strong corporate dollar purchases in the morning capped the currency's gains. "Despite the much firmer midpoi
Published 23 Jul, 2015 12:00am
Dollar pauses in Asia
Currency

Dollar pauses in Asia

The dollar held steady versus a basket of major currencies on Wednesday, nursing losses suffered the previous day in its biggest one-day fall so far this month. The dollar index traded at 97.304 as of 0530 GMT, having fallen back from a three-month high o
Published 23 Jul, 2015 12:00am
Dollar steadies in European trade
Currency

Dollar steadies in European trade

The dollar struggled on Wednesday after profit-taking drove its biggest decline in a month in the previous session, casting more doubt on whether it can rally further after a year of gains. Sterling was the standout in a morning of generally muted moves o
Published 23 Jul, 2015 12:00am
Euro rebounds, yen gains in New York

Euro rebounds, yen gains in New York

The euro on Tuesday rebounded from three-month lows against the dollar as an easing of pessimism about Greece had traders paring bearish bets, while the yen rose versus the greenback on upbeat remarks on inflation from the Bank of Japan chief. Commodity-r
Published 23 Jul, 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 Wednesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.50 percent (Previous 05.25-06.50 percent).
Published 23 Jul, 2015 12:00am
Most emerging Asian currencies rebound
Currency

Most emerging Asian currencies rebound

Most emerging Asian currencies rebounded on Wednesday as the dollar retreated, but their strength may not last long due to the prospect of higher US interest rates. The Malaysian ringgit touched a near two-week high as government bond prices rose. The Sou
Published 23 Jul, 2015 12:00am
Sri Lankan rupee ends steady
Currency

Sri Lankan rupee ends steady

The Sri Lankan rupee ended steady on Wednesday in dull trade as a state-owned bank maintained its dollar-selling rate at 133.70, dealers said. There was however downward pressure on the rupee due to demand for the greenback from importers, the dealers sai
Published 23 Jul, 2015 12:00am
Sterling sharply higher after BoE stokes rate rise bets

Sterling sharply higher after BoE stokes rate rise bets

Sterling jetted higher on Wednesday, supported by more suggestions from the minutes of the Bank of England's last meeting and a magazine interview that policymakers are edging towards voting for an interest rate rise. There have been a handful of indicati
Published 23 Jul, 2015 12:00am
Aussie slips, kiwi defensive
Currency

Aussie slips, kiwi defensive

The Australian dollar eased on Wednesday after benign inflation figures reinforced belief that the Reserve Bank of Australia (RBA) has room to lower interest rates further if needed. RBA Governor Glenn Stevens said, however, that too much easing could lea
Published 23 Jul, 2015 12:00am
China bets on North Korea in gamble to save rustbelt
Currency

China bets on North Korea in gamble to save rustbelt

At China's very farthest limits, a town sandwiched between North Korea and Russia stands at the heart of Beijing's plan to revitalise its bleak, frigid north-eastern rustbelt. Beijing has a vision of turning the nondescript outpost of Hunchun into a regio
Published 23 Jul, 2015 12:00am
Twin suicide attacks in north Cameroon kill 11

Twin suicide attacks in north Cameroon kill 11

Eleven people were killed on Wednesday in northern Cameroon when two girls blew themselves up in twin attacks in a region repeatedly targeted by Nigeria-based Boko Haram jihadists, officials said. The girls, who were "under 15", attacked the central marke
Published 23 Jul, 2015 12:00am
Israeli forces kill Palestinian

Israeli forces kill Palestinian

Israeli security forces on an arrest raid in the occupied West Bank shot and killed a Palestinian on Wednesday when clashes broke out with residents, Palestinian sources said. A Palestinian witness told Reuters Israeli forces entered the village to carry
Published 23 Jul, 2015 12:00am
Disneyland Paris ticket scam suspects arrested

Disneyland Paris ticket scam suspects arrested

French police have arrested two people suspected of reselling tickets for Disneyland Paris that they had obtained through credit card fraud, a police source said Wednesday. The men were arrested on Monday at the entrance to Europe's most visited amusement
Published 23 Jul, 2015 12:00am
Buhari says US arms ban aids Boko Haram

Buhari says US arms ban aids Boko Haram

Nigeria's President Muhammadu Buhari warned Washington on Wednesday that a US refusal to arm his troops because of "so-called human rights violations" only helps Boko Haram. The 72-year-old former general has been warmly received in the US capital on his
Published 23 Jul, 2015 12:00am
Moldova edges towards formation of new pro-Europe government

Moldova edges towards formation of new pro-Europe government

Three pro-Europe Moldovan parties announced on Wednesday they had agreed to form a new ruling coalition to produce a government to pilot the country towards integration with the European Union and unlock fresh foreign funding. The small ex-Soviet state, s
Published 23 Jul, 2015 12:00am
Yemen loyalists retake Aden palace, coalition reopens airport

Yemen loyalists retake Aden palace, coalition reopens airport

Yemeni pro-government forces recaptured the presidential palace in Aden Wednesday and a Saudi military plane landed in the war-scarred southern city following recent territorial losses by Iran-backed rebels. The arrival of reinforcements freshly trained a
Published 23 Jul, 2015 12:00am
Depay off the mark as United ease to tour win

Depay off the mark as United ease to tour win

Memphis Depay opened his goalscoring account for Manchester United here Tuesday as the Premier League giants eased to a 3-1 victory over the San Jose Earthquakes. Dutch international Depay, who completed a $38.9 million move to Old Trafford in June, score
Published 23 Jul, 2015 12:00am
Prince Ali backs reforms but not under Blatter

Prince Ali backs reforms but not under Blatter

FIFA needs reforms but they should be proposed and implemented not under embattled incumbent Sepp Blatter but by his successor, former vice-president Jordanian Prince Ali bin Hussein told AFP on Wednesday. The 39-year-old - who lost to Blatter in the elec
Published 23 Jul, 2015 12:00am
Pakistan include in-form Yasir in Twenty20 squad

Pakistan include in-form Yasir in Twenty20 squad

Fast-rising spinner Yasir Shah is set to make his Twenty20 comeback in Pakistan's upcoming series against Sri Lanka while injured pacer Wahab Riaz could also make a return subject to fitness, chief selector Haroon Rasheed said Wednesday. All-rounder Shahi
Published 23 Jul, 2015 12:00am
Gatlin tested 59 times by US anti-doping agency since return to track

Gatlin tested 59 times by US anti-doping agency since return to track

Justin Gatlin, the 2004 Olympic 100m gold medallist who was suspended between 2006-10 after failing a second drugs test but is currently dominating the world of sprinting, has been tested 59 times by the US anti-doping agency (USADA) since his return.
Published 23 Jul, 2015 12:00am
France to stop matches in memory of stadium disaster

France to stop matches in memory of stadium disaster

France's Ministry of Sports has ordered that football matches should no longer be played on May 5, the date of the 1992 Furiani stadium disaster. However, it added that the measure will only apply when May 5 falls on a Saturday. "When May 5 is a Saturday,
Published 23 Jul, 2015 12:00am
Suarez, Roberto lift Barcelona to 2-1 win

Suarez, Roberto lift Barcelona to 2-1 win

Goals from Luis Suarez and Sergi Roberto lifted Barcelona to a 2-1 victory over the Los Angeles Galaxy on Tuesday that manager Luis Enrique called an encouraging start to the European Champions' North American tour. Uruguay international Suarez came out o
Published 23 Jul, 2015 12:00am
Venus comes crashing to earth against Bondarenko

Venus comes crashing to earth against Bondarenko

Top seed Venus Williams's bid to win the WTA Istanbul Cup ended at the first hurdle on Tuesday as the American icon lost 6-4, 7-6 (7/4) to Ukrainian qualifier Kateryna Bondarenko. Williams, ranked 14 in the world, is no stranger to being upset by Bondaren
Published 23 Jul, 2015 12:00am
Bangladesh take an edge over South Africa

Bangladesh take an edge over South Africa

Half-centuries by Mahmudullah Riyad and Tamim Iqbal gave Bangladesh the edge over top-ranked South Africa Wednesday as the unfancied hosts reached 179-4 before rain stopped play on the second day of the first Test. Mahmudullah made 67 while Tamim added a
Published 23 Jul, 2015 12:00am
Ahmed Shehzad leads Pakistan to series win over Sri Lanka

Ahmed Shehzad leads Pakistan to series win over Sri Lanka

Ahmed Shehzad smashed 95 off 90 balls as Pakistan thrashed below-par Sri Lanka by seven wickets in the fourth one-day match in Colombo on Wednesday to clinch the five-match series. Mohammad Hafeez chipped in with 70 as the tourists surpassed Sri Lanka's 2
Published 23 Jul, 2015 12:00am
Somali, AU troops capture key Shebab stronghold

Somali, AU troops capture key Shebab stronghold

Somali government troops backed by African Union forces on Wednesday captured the Shebab stronghold of Bardhere, one of the last key bases of the al Qaeda-affiliated Islamists, officials said. The militants also confirmed the loss of the town, but insiste
Published 23 Jul, 2015 12:00am
Uber moves into Maghreb with Morocco launch

Uber moves into Maghreb with Morocco launch

Ride-booking app Uber, which has been at the centre of controversy in Europe and its US home base, on Wednesday announced its launch in Morocco, entering the Maghreb market. Uber Maroc is to run a trial service until September in Morocco's economic capita
Published 23 Jul, 2015 12:00am
Bosnia, Serbia pledge to improve ties

Bosnia, Serbia pledge to improve ties

Bosnia's joint presidency and Serbian Prime Minister Aleksandar Vucic pledged Wednesday in Belgrade to improve fragile ties, after a stone-throwing mob chased the Serbian leader from a ceremony marking the 20th anniversary of the Srebrenica massacre. The
Published 23 Jul, 2015 12:00am
Singapore freezes accounts linked to probe Malaysia's 1MDB

Singapore freezes accounts linked to probe Malaysia's 1MDB

Singapore police on Wednesday confirmed they had frozen two bank accounts as part of an investigation into possible money-laundering offences related to troubled Malaysian state investment firm 1MDB. The company is under investigation by Malaysian authori
Published 23 Jul, 2015 12:00am
Scientists create low-methane rice

Scientists create low-methane rice

Scientists said Wednesday they had created a rice variety with starchier grains that emits less methane, a step towards the twin goals of feeding more people and curbing global warming. The cultivation of rice, a staple starch for billions of people, is a
Published 23 Jul, 2015 12:00am
Chattanooga shooter acted alone: FBI

Chattanooga shooter acted alone: FBI

The man who killed five US troops in Tennessee was acting alone, the FBI said Wednesday, adding it is too early to tell if he was "radicalised" or motivated by mental illness. Four US marines and a sailor were killed after Mohammad Youssuf Abdulazeez, 24,
Published 23 Jul, 2015 12:00am
Kurd militants say kill two Turkish police to avenge IS bombing

Kurd militants say kill two Turkish police to avenge IS bombing

Kurdish militants claimed responsibillity for the assassination on Wednesday of two Turkish police officers in what they said was retaliation for a suspected Islamic State suicide bombing which killed 32 mostly young students. The Kurdistan Workers Party
Published 23 Jul, 2015 12:00am
France law to halve energy use, slash nuclear dependence

France law to halve energy use, slash nuclear dependence

French lawmakers were set to adopt a new law on Wednesday that will halve the country's energy consumption by 2050 and slash its reliance on nuclear energy. Under the new law, which was to be put to a final vote in the National Assembly later Wednesday, n
Published 23 Jul, 2015 12:00am
Cameron seeks Syria bombing mandate to renew global image

Cameron seeks Syria bombing mandate to renew global image

Prime Minister David Cameron may have won an unexpectedly decisive election victory in May, but he has yet to convince Britain's allies he is a globally engaged foreign policy player. Washington watched with alarm as Cameron presided over a downgrading of
Published 23 Jul, 2015 12:00am
Altaf condemns Qamar Mansoor's remand

Altaf condemns Qamar Mansoor's remand

Muttahida Qaumi Movement (MQM) Chief Altaf Hussain on Wednesday said that remanding Qamar Mansoor into Rangers' custody for 90 days is condemnable and demanded Mansoor be admitted to hospital for medical care immediately.
Published 23 Jul, 2015 12:00am
PSM faces Rs 3 billion production losses in 40 days

PSM faces Rs 3 billion production losses in 40 days

Pakistan Steel Mills (PSM) claimed Rs 3 billion production losses during the last 40 days due to low gas pressure from Sui Southern Gas Company (SSGC) According to PSM spokesman, the country's largest steel producing plant has reached on the verge of coll
Published 23 Jul, 2015 12:00am
SHC grants protective bail to MQM leaders

SHC grants protective bail to MQM leaders

Two leaders of the Muttahida Qaumi Movement, Khalid Maqbool Siddiqui and Abdul Rauf Siddiqui, obtained protective bail on Wednesday in suspected terrorism cases, registered against them for listening to MQM chief Altaf Hussain's outburst against the natio
Published 23 Jul, 2015 12:00am
Rain emergency work to continue in night hours: Administrator Karachi

Rain emergency work to continue in night hours: Administrator Karachi

Commissioner and Administrator Karachi Shoaib Ahmed Siddiqui said due to situation all municipal organisations will perform cleaning of storm water drains in the night hours also and their concerned offices will also work round the clock. He was speaking
Published 23 Jul, 2015 12:00am
Road links with different flood-hit villages restored: PDMA

Road links with different flood-hit villages restored: PDMA

Provincial Disaster Management Authority (PDMA), Khyber Pakhtunkhwa has said that road links to different villages damaged in the torrential rains and flood have been partially restored. According to the report of PDMA the number of fully damaged houses i
Published 23 Jul, 2015 12:00am
Flood relief work Sindh government releases Rs 450 million

Flood relief work Sindh government releases Rs 450 million

An amount of Rs 450million has been released to the Sindh Irrigation Department to handle emergency situation in the backdrop of possible heavy rain fall and floods in the province, said provincial Chief Secretary, Muhammad Siddiq Memon. Chairing a meetin
Published 23 Jul, 2015 12:00am
Navy ready to conduct flood relief operation

Navy ready to conduct flood relief operation

In view of likely flood devastation, Pakistan Navy has undertaken necessary preparation to conduct effective and prompt disaster flood relief operation in Pakistan Navy's Areas of responsibility that is Southern districts of Sindh and Coastal areas. An IS
Published 23 Jul, 2015 12:00am
NBP distributes around 2,500 food bags
Vegetable Oil

NBP distributes around 2,500 food bags

To mitigate sufferings of the poor people, National Bank of Pakistan decided to reach out to them by providing ration bags. The bag contains flour, vegetable oil, rice, sugar, tea, milk and spices etc. The bank has distributed around 2,500 bags containing
Published 23 Jul, 2015 12:00am
Imran in Chitral to attend nephew's engagement?

Imran in Chitral to attend nephew's engagement?

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan along with his wife Reham Khan reached Chitral on Wednesday evening. After landing at the airport, they were driven straight to the Hindu Kush Heights hotel. Sources told Business Recorder that the
Published 23 Jul, 2015 12:00am
Rafhan Maize Products Limited

Rafhan Maize Products Limited

An affiliate of the multinational Ingredion Incorporated, Rafhan Maize Products Limited is Pakistan's leading corn refiner. The company boasts a whopping market capitalisation of around Rs 100 billion, making it one of the six food producers to have its s
Published 23 Jul, 2015 12:00am
Rafhan Maize Products Limited

Rafhan Maize Products Limited

An affiliate of the multinational Ingredion Incorporated, Rafhan Maize Products Limited is Pakistan's leading corn refiner. The company boasts a whopping market capitalisation of around Rs 100 billion, making it one of the six food producers to have its s
Published 23 Jul, 2015 12:00am
Plea to help resolve circular debt issue

Plea to help resolve circular debt issue

"Circular debt merits urgent attention as it has become a major threat to the country's image, credit rating and economic survival," opined Pakistan Businessmen and Intellectuals Forum's (PBIF) Mian Zahid Hussain. He said that it is also a threat to indus
Published 23 Jul, 2015 12:00am
Sindh government's preparedness towards rains questioned

Sindh government's preparedness towards rains questioned

Sindh province faces a grave danger of inundation due to heavy monsoon rains and flood in the River Indus, but the provincial government marred with corruption and bad governance is ill-prepared for these perils, said Pakistan Muslim League (PML) Sindh ch
Published 23 Jul, 2015 12:00am
Business community urges government to rationalise number of holidays

Business community urges government to rationalise number of holidays

Business Community has urged the government to rationalize the number of holidays, which may be restricted to only genuine occasions. The whole country remained shutdown during the long five-day Eid holiday, badly affecting industrial production and expor
Published 23 Jul, 2015 12:00am
Standard Chartered announces new organisational structure

Standard Chartered announces new organisational structure

Standard Chartered PLC "the Group" announced on Wednesday a simplification of its organisational structure that will improve accountability, speed up decision making, reduce bureaucracy and play a key part in delivering the previously announced US 1.8 bil
Published 23 Jul, 2015 12:00am
Qamar Mansoor detained for 90 days

Qamar Mansoor detained for 90 days

Pakistan Rangers Sindh, on Wednesday produced Qamar Masoor, a member of Muttahida Qaumi Movement (MQM) co-ordination committee, before Anti-Terrorism Court (ATC) and informed it about his 90-day preventive detention for questioning. The Rangers' personnel
Published 23 Jul, 2015 12:00am
BPPL, Byco Oil approve potential merger

BPPL, Byco Oil approve potential merger

The Board of Directors of Byco Petroleum Pakistan Limited, during its meeting held on Tuesday, has approved in principle, a potential merger of Byco Petroleum Pakistan Limited and its wholly-owned subsidiary, Byco Terminals Pakistan Limited, with and into
Published 23 Jul, 2015 12:00am
First monsoon shower exposes working of KE

First monsoon shower exposes working of KE

Most parts of Karachi on Wednesday experienced major power breakdowns shortly after the city received first shower of the current monsoon season. K-Electric, however, claimed that such a situation had arisen following tripping of its main transmission lin
Published 23 Jul, 2015 12:00am
More widespread rains in five days likely

More widespread rains in five days likely

The entire country is likely to receive more widespread rains in the next five days as the Met Office on Wednesday warned about flash flooding in Karachi and other main cities. It also warned that the Arabian Sea was likely to remain rough to very rough a
Published 23 Jul, 2015 12:00am
Chancellor SSUET hosts Eid Milan party

Chancellor SSUET hosts Eid Milan party

The Chancellor Sir Syed University of Engineering and Technology (SSUET), Engr. Muhammad Adil Usman hosted a grand Eid Milan get-together here at the University Campus. Highlighting the importance of celebrating Eid in the spirit of brotherhood, Chancello
Published 23 Jul, 2015 12:00am
Meezan Bank executes largest Musharakah transaction

Meezan Bank executes largest Musharakah transaction

Meezan Bank, Pakistan's leading Islamic bank, executed the largest Musharakah transaction ever in the history of Islamic Banking in Pakistan amounting to Rs 9.5 billion with Punjab Food Department (Government of Punjab). The purpose of the transaction was
Published 23 Jul, 2015 12:00am
Non-tax filers to pay extra annual vehicle token fee

Non-tax filers to pay extra annual vehicle token fee

The annual vehicle token fee payers must carry photo copies of their Computerised National Identity Card, Vehicle Registration Book and Income Tax Payment Certificate to avoid any inconvenience. This year, the non-income tax payers are being charged more
Published 23 Jul, 2015 12:00am
Imran still supports talks with Taliban

Imran still supports talks with Taliban

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has reiterated his stance that negotiations with the Taliban should be initiated, saying that talks were the only way of restoring lasting peace in the region. "If world powers, especially the US wwere ne
Published 23 Jul, 2015 12:00am
Husband, wife gunned down in Kalat

Husband, wife gunned down in Kalat

At least two people were killed when some unknown armed men opened indiscriminate fire inside a house in Kalat on Wednesday. As per details, the unidentified miscreants stormed a house in Kohang area on Tuesday's night and gunned down Habib Ullah and his
Published 23 Jul, 2015 12:00am
Thin attendance observed on first working day

Thin attendance observed on first working day

On first working day after Eid holidays, mostly thin attendance was observed in public and private offices on Wednesday, people were busy in greeting Eid to each other and sharing their experiences. People usually in leisure mood, greeted Eid, discussed t
Published 23 Jul, 2015 12:00am
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