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Print - 2015-12-04
EU set to extend Russia sanctions by six months

EU set to extend Russia sanctions by six months

The European Union will extend punishing economic sanctions against Russia for its involvement in the Ukraine crisis for another six months, diplomatic sources said Thursday. They said ambassadors from the EU's 28 member states were to meet next week on W
Published 04 Dec, 2015 12:00am
Pistorius risks 15 years in jail after murder conviction

Pistorius risks 15 years in jail after murder conviction

Oscar Pistorius was found guilty of murder on Thursday after South Africa's Supreme Court of Appeal threw out a manslaughter conviction for killing his girlfriend, and he now faces a 15-year prison term. The judge described the Paralympian's testimony ove
Published 04 Dec, 2015 12:00am
Germany slaps down own spy agency for calling Saudi policy 'impulsive'

Germany slaps down own spy agency for calling Saudi policy 'impulsive'

The German government rebuked its own foreign intelligence agency, the BND, on Thursday for suggesting that Saudi Arabia was becoming more "impulsive" in its foreign policy. In an unusual public statement on Wednesday, the BND also said Saudi Arabia - the
Published 04 Dec, 2015 12:00am
India army on war footing to rescue survivors as flood toll nears 270

India army on war footing to rescue survivors as flood toll nears 270

The Indian military struggled to evacuate thousands of residents stranded in the southern state of Tamil Nadu on Thursday as the death toll from flooding rose to 269 after the heaviest cloudburst in over a century. Predictions of incessant rainfall by the
Published 04 Dec, 2015 12:00am
Removal of MD: Ministry, USC BoDs at loggerheads

Removal of MD: Ministry, USC BoDs at loggerheads

Board of Directors of Utility Stores Corporation (USC) and Ministry of Industries have reportedly locked horns on the removal of Managing Director Sultan Mehmood. Well informed sources told Business Recorder that USC Board on Thursday removed MD US
Published 04 Dec, 2015 12:00am
American held in Afghanistan-Pakistan region

American held in Afghanistan-Pakistan region

An American civilian is being held by a Taliban-linked militant group in the Afghanistan-Pakistan region, according to a United States official familiar with the matter. The official, who spoke on condition of anonymity because he was not authorised to di
Published 04 Dec, 2015 12:00am
30 unverified deportees sent back to Greece

30 unverified deportees sent back to Greece

Pakistan on Thursday sent back an aeroplane with deported migrants from Greece after the Federal Investigation Agency (FIA) found 30 passengers on-board to have been illegally deported from the European country. The FIA allowed only 19 passengers out of 4
Published 04 Dec, 2015 12:00am
PTI's 'white paper' termed ridiculous

PTI's 'white paper' termed ridiculous

Punjab government spokesman Syed Zaeem Hussain Qadri has said that whitepaper of PTI is highly ridiculous and a bunch of lie. He said that the figures mentioned in whitepaper are based on imagination. It would be better that PTI leaders would have correct
Published 04 Dec, 2015 12:00am
Archaic rules need to be changed - Senior Vice President LCCI

Archaic rules need to be changed - Senior Vice President LCCI

Almas Hyder is the Senior Vice President at Lahore Chambers of Commerce and Industry (LCCI), elected in October 2015. He is an engineer, an entrepreneur, and the founder of Synthetic Products Enterprises Limited (SPEL). SPEL is one of the leading manufact
Published 04 Dec, 2015 12:00am
Archaic rules need to be changed - Senior Vice President LCCI

Archaic rules need to be changed - Senior Vice President LCCI

Almas Hyder is the Senior Vice President at Lahore Chambers of Commerce and Industry (LCCI), elected in October 2015. He is an engineer, an entrepreneur, and the founder of Synthetic Products Enterprises Limited (SPEL). SPEL is one of the leading manufact
Published 04 Dec, 2015 12:00am
Under-5 mortality rate Pakistan ranks 26th in world: experts

Under-5 mortality rate Pakistan ranks 26th in world: experts

Pakistan currently ranks 26th in the world for under-5 child mortality rate that has fallen from 141 in 1990 to 89 in 2012, though less than the Millennium Development Goals (MDG) 4 of 46 by 2015. Besides, Pakistan could not meet the MDGs 4 and 5, of redu
Published 04 Dec, 2015 12:00am
Eight dead, 20 injured in Lasbela accident

Eight dead, 20 injured in Lasbela accident

At least eight people were killed and 20 others injured in a head-on collision between a passenger bus and a truck near Bela area of Lasbela district on Thursday. According to Edhi sources, a passenger coach was heading towards Karachi from Quetta when it
Published 04 Dec, 2015 12:00am
BoK opens Raast Islamic Banking branch at Torghar

BoK opens Raast Islamic Banking branch at Torghar

The Bank of Khyber (BoK) on Wednesday opened its new 'Raast Islamic Banking' branch at Torghar. Matloob-ur-Rehman Deputy Commissioner Torghar formally inaugurated the BOK Raast Islamic Banking Branch at Civil Colony District Headquarter Torghar, during a
Published 04 Dec, 2015 12:00am
Used cars' import: new taxation measures put auto industry in jeopardy

Used cars' import: new taxation measures put auto industry in jeopardy

The government has kept the import of up to 1000cc used cars away from new taxation measures, leaving local auto industry in an uncertain business environment; market sources said on Thursday. According to market sources, the government had given immunity
Published 04 Dec, 2015 12:00am
PACRA upgrades Bestway Cement's rating

PACRA upgrades Bestway Cement's rating

PACRA has upgraded the long-term and short-term entity ratings of Bestway Cement Limited to 'AA-' (Double A minus) and 'A1+' (A one plus), and maintained "A-" (Single A minus) and short-term rating of "A2" (A two) to Pakcem Limited respectively.
Published 04 Dec, 2015 12:00am
PACRA upgrades Bestway Cement's rating

PACRA upgrades Bestway Cement's rating

PACRA has upgraded the long-term and short-term entity ratings of Bestway Cement Limited to 'AA-' (Double A minus) and 'A1+' (A one plus), and maintained "A-" (Single A minus) and short-term rating of "A2" (A two) to Pakcem Limited respectively.
Published 04 Dec, 2015 12:00am
Government urged to avoid delay in energy sector reforms

Government urged to avoid delay in energy sector reforms

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has said that any further delay in energy sector reforms might push the country towards bankruptcy. In a statement issued here on Thursday, the PBIF chief said that officia
Published 04 Dec, 2015 12:00am
Afghan peace talks: Pakistan ready to host another round: Maleeha

Afghan peace talks: Pakistan ready to host another round: Maleeha

Permanent Representative of Pakistan to the United Nations Dr Maleeha Lodhi said Thursday that Pakistan is ready to host another round of Afghan peace talks, "But we would like to see the anti-Pakistan rhetoric coming from Kabul to cease." Talking to repo
Published 04 Dec, 2015 12:00am
SECP, KSE board discuss integration of bourses

SECP, KSE board discuss integration of bourses

Chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi met the Board of Directors and members of the Demutualization Committee of the Karachi Stock Exchange (KSE) to consider the operational matters pertaining to the integration of th
Published 04 Dec, 2015 12:00am
Sindh government intends to enhance trade with Belarus: SBI chief

Sindh government intends to enhance trade with Belarus: SBI chief

Chairman Sindh Board of Investment (SBI) Dr Asif A. Brohi Thursday said that the Sindh Government was looking forward to enhance bilateral trade between Pakistan and Belarus. This he said while talking to Ambassador of Belarus to Pakistan Andrei Ermolovis
Published 04 Dec, 2015 12:00am
Rangers nab three 'terrorists'

Rangers nab three 'terrorists'

Rangers arrested three suspected terrorists of banned outfits and recovered arms during separate raids, here on Thursday. Rangers' spokesman said that the paramilitary troops launched an operation against criminals in Gulberg and Lyari areas of the city d
Published 04 Dec, 2015 12:00am
Chehlum observed with reverence

Chehlum observed with reverence

Thousands of mourners Thursday rallied to observe the Chehlum of Hazrat Imam Hussain (RA) amid airtight security in the city. The Chehlum procession started off from Numaish Chowrangi and gradually passed through M A Jinnah Road to culminate at Imambargah
Published 04 Dec, 2015 12:00am
Black papers removed from 200 vehicles

Black papers removed from 200 vehicles

Islamabad police officials on Thursday removed black papers from 200 vehicles having tinted glasses. Following the directions from Interior Minister Chaudhry Nisar Ali Khan, Islamabad police have started campaign against suspected vehicles following which
Published 04 Dec, 2015 12:00am
Grey trafficking causes $4 billion loss to government: Anusha

Grey trafficking causes $4 billion loss to government: Anusha

State Minister for Information Technology Anusha Rehman on Thursday said that grey trafficking caused an estimated loss of $4 billion to the national exchequer during the International Clearing House (ICH) policy regime. With the withdrawal of ICH policy
Published 04 Dec, 2015 12:00am
Shelter for the poor: Supreme Court seeks report from governments

Shelter for the poor: Supreme Court seeks report from governments

The Supreme Court on Thursday sought a comprehensive report from federal and provincial governments pertaining to devising a strategy for shelter provision to lower strata of society in Pakistan. Resuming the hearing of a Katchi Abadis case, a two-member
Published 04 Dec, 2015 12:00am
Twin cities: Senate body concerned over water shortage

Twin cities: Senate body concerned over water shortage

  • Senate Standing Committee on Cabinet Secretariat has expressed serious concerns over shortage of water and contaminated supply issue being faced by the people of the twin cities, Islamabad and Rawalpindi and reprimanded poor performance of Capital Devel
Published 04 Dec, 2015 12:00am
Khursheed hands over documents of relief goods to Khattak

Khursheed hands over documents of relief goods to Khattak

Leader of the Opposition in National Assembly Syed Khursheed Shah on Thursday handed over documents of the relief goods announced by the Sindh government to KP Chief Minister Pervez Khattak. The PPP stalwart along with a delegation of the party leaders ca
Published 04 Dec, 2015 12:00am
Fertilizers: FBR acts to stop reduction in taxable value of supplies

Fertilizers: FBR acts to stop reduction in taxable value of supplies

The Federal Board of Revenue (FBR) has barred the manufacturer or importer making supplies of fertilizers from reducing taxable value or price of the commodity for assessment of sales tax or bringing down sales tax amount on account of subsidy. Through S.
Published 04 Dec, 2015 12:00am
Lawyer moves LHC against jewellery exhibition

Lawyer moves LHC against jewellery exhibition

A lawyer has accused the government of pleasing Indian jewellers in a duty-free show it arranged in collaboration with the South Asian Association for Regional Cooperation's Chamber of Commerce and Industries. Jawad Anwar, appealing to the Lahore High Cou
Published 04 Dec, 2015 12:00am
SECP, ICAP deliberate on independent audit oversight

SECP, ICAP deliberate on independent audit oversight

The SECP-ICAP joint committee has reached on consensus about the way forward towards formation of a robust and effective independent audit oversight board in Pakistan. The committee was formed to deliberate and prepare recommendations on adopting a mechan
Published 04 Dec, 2015 12:00am
US envoy presents credentials to President

US envoy presents credentials to President

Ambassador-designate of United States to Pakistan, David M. Hale presented his credentials to President Mamnoon Hussain here at the Aiwan-e-Sadr on Thursday. Ambassador Hale thanked President Mamnoon for today's ceremony and said, "I am honoured to presen
Published 04 Dec, 2015 12:00am
Foggy weather: Railways issues advisory

Foggy weather: Railways issues advisory

As the foggy conditions persist in Punjab and parts of upper Sindh, Pakistan Railway has instructed its field and operational staff to take all necessary safety measures to avoid any untoward incident. CEO in a video link conference here on Thursday at Ra
Published 04 Dec, 2015 12:00am
Shooting throws Afghan peace talks into uncertainty

Shooting throws Afghan peace talks into uncertainty

A carefully coordinated effort to revive peace talks between Taliban insurgents and Afghan officials could be in trouble after reports that militant chief Mullah Akhtar Mansoor was shot in Pakistan. Talks that stalled less than six months ago due to a cha
Published 04 Dec, 2015 12:00am
Forced sale value: HEC value estimated at Rs 1.248 billion

Forced sale value: HEC value estimated at Rs 1.248 billion

Privatisation Commission (PC) has acknowledged that Cargil Holding Limited (CHL), which failed to fulfil letter of acceptance and signing of Share Purchase Agreement (SPA), got itself registered in Kenya one day after the PC board gave approval to reiniti
Published 04 Dec, 2015 12:00am
One held, explosives recovered in Battagram

One held, explosives recovered in Battagram

Counter Terrorism Department (CTD) officers on Thursday apprehended a facilitator of terrorists during a successful operation and recovered weapons from his possession. The suspect Fazal Ullah was arrested from Battagram District. According to initial rep
Published 04 Dec, 2015 12:00am
APTMA urges MoC to slap RD on synthetic yarn
Cotton

APTMA urges MoC to slap RD on synthetic yarn

All Pakistan Textile Mills Association (APTMA) has urged the Commerce Ministry to impose regulatory duty on synthetic yarn. A delegation of APTMA met with Commerce Minister Engineer Khurram Dastgir Khan and apprised him of the issues being faced by the te
Published 04 Dec, 2015 12:00am
SGS Cotecna references: NAB moves IHC against acquittal of Zardari

SGS Cotecna references: NAB moves IHC against acquittal of Zardari

The National Accountability Bureau (NAB) on Thursday filed a petition in the Islamabad High Court (IHC) challenging acquittal of former president Asif Ali Zardari in SGS and Cotecna references, by an accountability court. The NAB through the petition has
Published 04 Dec, 2015 12:00am
Climate change Speakers call for taking adaptation, mitigation measures

Climate change Speakers call for taking adaptation, mitigation measures

Pakistan is required to take adaptation and mitigation measures to counter climate change, which poses a serious threat of food security and economic instability. This was the gist of a daylong seminar on climate change adoption, which was jointly organis
Published 04 Dec, 2015 12:00am
Mobilink crosses 6 million 3G subscribers mark

Mobilink crosses 6 million 3G subscribers mark

Mobilink has overtaken its competitors to become the largest No 1 3G player in Pakistan after official figures were released by Pakistan Telecommunication Authority (PTA). Mobilink crossed the 6 million 3G subscriber mark during the 4th quarter of 2015. "
Published 04 Dec, 2015 12:00am
SECP issues notice to coover payment issue

SECP issues notice to coover payment issue

The Securities and Exchange Commission of Pakistan (SECP) has issued a show-cause notice to M/s Admore Gas (Private) Limited, Karachi, for paying Rs 39.45 million to its Chief Executive Officer Amir Waliuddin Chishti on the pretext of a partial settlement
Published 04 Dec, 2015 12:00am
Minister inaugurates week-long cleanliness drive in Peshawar

Minister inaugurates week-long cleanliness drive in Peshawar

Khyber Pakhtunkhwa Senior Minister for LG&RD InayatUllah Khan inaugurated 10-day cleanliness and awareness campaign in Peshawar by operating specialised solid waste collection equipment in slum area of Changarabad. District Nazim Arbab Mohammad Asim Khan,
Published 04 Dec, 2015 12:00am
WWF-Pakistan holds environmental journalists' meeting

WWF-Pakistan holds environmental journalists' meeting

WWF-Pakistan organised its Environmental Journalists Quarterly Meeting to sensitise media on the recent court order of the Lahore High Court (LHC) on the big cats case and to also highlight the importance of COP21 and climate change. WWF-Pakistan apprecia
Published 04 Dec, 2015 12:00am
Chehlum observed in Lahore

Chehlum observed in Lahore

Like other parts of the country, Chehlum of Hazrat Imam Hussain (AS) and other martyrs of Karbala was observed in the provincial metropolis with solemnity and reverence. Various processions were taken out in different parts of the City which were attended
Published 04 Dec, 2015 12:00am
Economic issues: FCCI chief accuses government of non-serious attitude

Economic issues: FCCI chief accuses government of non-serious attitude

Non-serious attitude towards economic issues has aggravated the situation which was also complicating the problems faced by businessmen as well as common people, said Chaudhary Muhammad Nawaz, President Faisalabad Chamber of Commerce & Industry (FCCI). Ad
Published 04 Dec, 2015 12:00am
'Pakistan wants peace, stability in region'

'Pakistan wants peace, stability in region'

Federal Minister for Planning and National Reforms Professor Ahsan Iqbal on Thursday said that Pakistan wanted an atmosphere of peace and stability in the region for the sake of economic prosperity and development. He was talking to the media here after a
Published 04 Dec, 2015 12:00am
Cheap hydel power: KP concentrating on production: Minister

Cheap hydel power: KP concentrating on production: Minister

Khyber Pakhtunkhwa Minister for Energy and Power, Mohammad Atif Khan has said that solar energy is simple, better and cheap source of producing electricity. However, he said that due to available hydel potentials of producing cheap electricity the provinc
Published 04 Dec, 2015 12:00am
Mall Road: LCCI for implementing ban on rallies

Mall Road: LCCI for implementing ban on rallies

The Lahore Chamber of Commerce & Industry has urged the district government to ensure implementation of ban on rallies, protests and sit-ins on the Mall Road, confronted to the business community on priority basis to ensure smooth running of businesses. T
Published 04 Dec, 2015 12:00am
Forex reserves decline

Forex reserves decline

The country's liquid forex reserves declined to $19.819 billion during the last week. According to State Bank of Pakistan (SBP) weekly report issued Thursday, Pakistan's liquid foreign exchange reserves stood at $19.819 billion as on November 27, 2015 com
Published 04 Dec, 2015 12:00am
Drug abuse behind many vices, says KP CM

Drug abuse behind many vices, says KP CM

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has stressed urgent need to declare war on drug abuse both by the government and the civil society organisations and warned that drug abuse can lead to menaces of crimes, terrorism, violent behaviour and HI
Published 04 Dec, 2015 12:00am
TEVTA-PLCIP consortium signs MoU

TEVTA-PLCIP consortium signs MoU

A Memorandum of Understanding (MOU) signing ceremony between Technical and Vocational Training Authority (TEVTA) and Pakistan Leather Competitiveness Improvement Program (PLCIP) consortium was held at TEVTA Secretariat here the other day. Through this MoU
Published 04 Dec, 2015 12:00am
LG polls: DG Rangers urges people to cast their votes without any fear

LG polls: DG Rangers urges people to cast their votes without any fear

Reiterating that the ongoing Karachi operation will continue till the elimination of the last terrorist and target killer, Director General Pakistan Rangers, Sindh, Major General Bilal Akber on Thursday urged the citizens to come out of their homes on Dec
Published 04 Dec, 2015 12:00am
Reham praises Faisal Wada, his family for supporting her

Reham praises Faisal Wada, his family for supporting her

Renowned broadcast journalist and ex-wife of PTI Chairman Imran Khan, Reham Khan returned to Pakistan on Thursday after staying away for a month after dissolution of her marriage. Talking to media persons at the Allama Iqbal International Airport, she sai
Published 04 Dec, 2015 12:00am
Over 8.631 million bales of cotton reach ginneries: PCGA
Cotton

Over 8.631 million bales of cotton reach ginneries: PCGA

Pakistan Cotton Ginners Association (PCGA) has issued the figures of cotton arrival up to December 1st, 2015. Seed cotton (Phutti) equivalent to over 86,31,933 bales of cotton have reached ginneries across Pakistan as of December 1st showing a decrease of
Published 04 Dec, 2015 12:00am
Coastal areas: SAU, Dalda company sign pact on palmoil research

Coastal areas: SAU, Dalda company sign pact on palmoil research

Sindh Agriculture University of Tando Jam and Dalda Company have signed an agreement to conduct a research on palm oil in coastal areas of Sindh province. The research would be carried out within the different districts of Thatta, Badin, Hyderabad, Mirpur
Published 04 Dec, 2015 12:00am
Khushhalibank to open two new branches in Punjab

Khushhalibank to open two new branches in Punjab

Khushhalibank Limited has announced opening of two new branches in Punjab, further expanding its geographic spread as the pioneer microfinance bank of Pakistan. Addressing the media, President Khushhalibank Ghalib Nishtar said: "In the last 15 years a lar
Published 04 Dec, 2015 12:00am
Hub industrial area Solid-waste management system planned

Hub industrial area Solid-waste management system planned

Hub Industrial Area will soon have a modern solid-waste management system on the initiative of Lasbela Chamber of Commerce and Industry's (LCCI) president Maqsood Ismail. LCCI's former president Ismail Suttar, who took up the project with the federal gove
Published 04 Dec, 2015 12:00am
Real leaders never hold 'secret meetings': Imran

Real leaders never hold 'secret meetings': Imran

Pakistan Tehreek-e-Insaf (PTI) Chairman, Imran Khan on Thursday said fearlessness is a hallmark of real leaders and such leaders never hold 'secret meetings'. "Today Pakistan is in dire need of (such) leadership," Imran Khan said in his speech at South As
Published 04 Dec, 2015 12:00am
Cotton dips amid commodity-wide rout but stays in tight range
Cotton

Cotton dips amid commodity-wide rout but stays in tight range

Cotton futures dipped on Wednesday, pressured by a stronger US dollar and a rout across the commodity complex, even amid concerns that unfavourable weather had delayed harvests and damaged crop quality. "Oil's got a three in front of it," said a Californi
Published 04 Dec, 2015 12:00am
Shanghai copper down

Shanghai copper down

Shanghai Futures Exchange copper closed down 2 percent at 34,390 yuan ($5,374) a tonne on Thursday in the face of a steadily strengthening US dollar and weakening demand growth in top consumer China. Top copper producer Codelco, which last month shocked t
Published 04 Dec, 2015 12:00am
Copper, zinc slip to one-week lows on China demand woes
Currency

Copper, zinc slip to one-week lows on China demand woes

Copper, zinc and nickel hit one-week lows on Thursday as bearish speculators shrugged off a retreat in the dollar and instead focused on weaker demand in top metals user China. The dollar index surged on Wednesday to its highest levels since 2003, after t
Published 04 Dec, 2015 12:00am
Rubber rises

Rubber rises

Benchmark Tokyo rubber futures rose for a third straight session on Thursday and hit a six-week high on the back of recovering oil prices and a slightly weaker yen against the dollar. The Tokyo Commodity Exchange rubber contract for May delivery finished
Published 04 Dec, 2015 12:00am
Wheat falls to 5-1/2 years low

Wheat falls to 5-1/2 years low

US grains fell on Wednesday, with wheat prices hitting the lowest levels since June 2010 as a rising dollar made the cereals less attractive in global markets, traders said. Wheat now has declined six sessions in a row, shedding more than 8 percent in the
Published 04 Dec, 2015 12:00am
Palm oil rises
Vegetable Oil

Palm oil rises

Malaysian palm oil futures rose on Thursday to snap a three-session losing streak, tracking gains in other vegetable oils and as expectations of lower output in the coming weeks boosted sentiment. The February benchmark palm oil contract on the Bursa Mala
Published 04 Dec, 2015 12:00am
Cocoa climbs near 4-1/2-year high
Currency

Cocoa climbs near 4-1/2-year high

New York cocoa futures on ICE rallied in heavy volume on Thursday, buoyed by the strong British pound and technically inspired fund buying, while the London market inched higher, with both nearing recent 4-1/2-year peaks. Arabica coffee also surged, recov
Published 04 Dec, 2015 12:00am
Gold falls to 2010 low in New York

Gold falls to 2010 low in New York

Gold fell to its lowest in nearly six years on Wednesday, extending losses as Federal Reserve Chair Janet Yellen said she was "looking forward" to an interest rate hike that will mark the US economy's recovery from recession. In prepared remarks, Yellen d
Published 04 Dec, 2015 12:00am
Gold slumps in Asia

Gold slumps in Asia

Gold slumped to a near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented the case for a US rate hike this month, while the strength in the dollar also pressured the metal. Spot gold fell to $1,045.85 an oun
Published 04 Dec, 2015 12:00am
Gold rebounds from 2010 lows in Europe

Gold rebounds from 2010 lows in Europe

Gold bounced from near six-year lows on Thursday in line with a rebound in the euro, after the European Central Bank announced the minimum cut in its deposit rate that investors had been expecting. The ECB cut its deposit facility to -0.30 percent from -0
Published 04 Dec, 2015 12:00am
Rio Tinto set to decide on expansion of Mongolia copper mine

Rio Tinto set to decide on expansion of Mongolia copper mine

Rio Tinto is lining up project financing for a $4 billion expansion of its long-delayed Oyu Tolgoi copper mine in Mongolia and will make a final investment decision early next year, a senior executive said on Thursday. The mine, which started producing fr
Published 04 Dec, 2015 12:00am
US MIDDAY: wheat, corn surge

US MIDDAY: wheat, corn surge

US wheat surged more than 3 percent early on Thursday, snapping a six-session losing streak as investors covered their short positions and the dollar tumbled after the European Central Bank took steps to fight low inflation. Corn futures also jumped, whil
Published 04 Dec, 2015 12:00am
US MIDDAY: gold rebounds from 2010 lows

US MIDDAY: gold rebounds from 2010 lows

Gold bounced from near six-year lows on Thursday in line with a sharp rebound in the euro, rising 1 percent after the European Central Bank (ECB) announced the minimum cut in its deposit rate that investors had been expecting. The ECB cut its deposit rate
Published 04 Dec, 2015 12:00am
Oil settles up three percent on diving dollar, pre-Opec hedging

Oil settles up three percent on diving dollar, pre-Opec hedging

Crude prices settled up about 3 percent on Thursday, the eve of an Opec meeting, as traders who expect no cuts in the group's output hedged their positions in case of a surprise outcome at a meeting of the world's largest oil producers. A tumbling dollar
Published 04 Dec, 2015 12:00am
'Aliens' evading taxes

'Aliens' evading taxes

It seems aliens from outer space are involved in tax evasion, money laundering and transfer of billions of dollars abroad, otherwise those responsible for alleged misappropriations of over Rs 600 billion every year as per a former Finance Minister, would
Published 04 Dec, 2015 12:00am
The unrecognised builders of Abu Dhabi

The unrecognised builders of Abu Dhabi

As we celebrated the 44th independence anniversary of the UAE, I recalled my days in Abu Dhabi in early 1970s when I was part of the contingent of active service officers from Pakistan Army seconded to Abu Dhabi Defence Force for facilitating their indepe
Published 04 Dec, 2015 12:00am
Copycats and fragging

Copycats and fragging

Friday November 13 will go down as the day when horror visited Paris in a wave of coordinated terrorist attacks against soft targets by gunmen and suicide bombers wearing suicide vests. At least 150 people died, among them concertgoers and restaurant dine
Published 04 Dec, 2015 12:00am
FBR's circular debt!

FBR's circular debt!

The Finance Minister of Pakistan has at last admitted that Federal Board of Revenue (FBR) has a debt of Rs 200 billion-refunds blocked to show higher collection aimed at hoodwinking the people and International Monetary Fund (IMF). This confession was mad
Published 04 Dec, 2015 12:00am
Islamabad's brush with democracy

Islamabad's brush with democracy

The residents of Islamabad, fondly called Isloos, who play host to almost all apex power centres of the nation, were virtually powerless and had no say in managing their own affairs - but until this past Monday. Through a relatively less uproarious and fa
Published 04 Dec, 2015 12:00am
Communist China's yuan in elite currency basket!
Currency

Communist China's yuan in elite currency basket!

After lying in wait for a considerable length of time, China's yuan or renminbi (RMB) was finally admitted to the elite club of currencies which form part of the Special Drawing Rights (SDR) of the IMF. In a press release issued on 30th November, 2015, th
Published 04 Dec, 2015 12:00am
Ad hoc SC judges: JC recommends two names

Ad hoc SC judges: JC recommends two names

The Judicial Commission on judges' appointment on Thursday recommended names of two former judges, Tariq Pervez and Khilji Arif Hussain as ad hoc judges of the Supreme Court (SC). A meeting of the commission held at Lahore registry of SC also recommended
Published 04 Dec, 2015 12:00am
Ad hoc SC judges: JC recommends two names

Ad hoc SC judges: JC recommends two names

The Judicial Commission on judges' appointment on Thursday recommended names of two former judges, Tariq Pervez and Khilji Arif Hussain as ad hoc judges of the Supreme Court (SC). A meeting of the commission held at Lahore registry of SC also recommended
Published 04 Dec, 2015 12:00am
Launch of Exim Bank in the offing

Launch of Exim Bank in the offing

Finance Minister Ishaq Dar chaired a meeting here Thursday to finalise the modalities for launching the EXIM Bank of Pakistan. Senior officials of the Ministry of Finance, Governor State Bank of Pakistan and other SBP officials were present in the meeting
Published 04 Dec, 2015 12:00am
Launch of Exim Bank in the offing

Launch of Exim Bank in the offing

Finance Minister Ishaq Dar chaired a meeting here Thursday to finalise the modalities for launching the EXIM Bank of Pakistan. Senior officials of the Ministry of Finance, Governor State Bank of Pakistan and other SBP officials were present in the meeting
Published 04 Dec, 2015 12:00am
Launch of Exim Bank in the offing

Launch of Exim Bank in the offing

Finance Minister Ishaq Dar chaired a meeting here Thursday to finalise the modalities for launching the EXIM Bank of Pakistan. Senior officials of the Ministry of Finance, Governor State Bank of Pakistan and other SBP officials were present in the meeting
Published 04 Dec, 2015 12:00am
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