US stocks pared gains and turned negative on Friday, weighed down by energy stocks as oil prices dipped below $33 a barrel -their lowest in more than a decade. Oil erased earlier gains, pressured by persistent global oversupply and a bleak demand outlook.

US stocks sold off further on Thursday, giving the Dow and S&P 500 their worst four-day starts to a year ever, dragged down by another drop in Chinese equities and oil prices at 12-year lows. China allowed the biggest fall in its yuan currency in five mon

Sri Lankan shares fell for a fifth straight session on Friday to end at their lowest level in nearly 1-1/2 years, led by declines in diversified and banking shares. Fears over investors shifting to risk-free assets such as government securities due to ris

Safe-haven US Treasury yields dipped on Thursday on concerns that weakness in Chinese equities could have negative implications for global economic growth and after a drop in oil prices suggested a lack of inflationary pressures. China allowed the biggest

Safe-haven US Treasury yields dipped on Thursday on concerns that weakness in Chinese equities could have negative implications for global economic growth and after a drop in oil prices suggested a lack of inflationary pressures. China allowed the biggest

Hong Kong shares rose modestly on Friday as battered stocks in mainland China rebounded, but the benchmark Hang Seng index still posted its worst weekly performance in more than four years, tumbling 6.7 percent. The Hang Seng index rose 0.6 percent to 20,

China stocks swung wildly early Friday before staying in positive territory and ending the day up 2 percent, after regulators suspended a newly-minted circuit breaker mechanism in a bid to calm panicky investors. The CSI300 index of the largest listed com

European shares fell on Friday, with lingering worries about China leaving the region's stock markets with stinging losses for the week. The pan-European FTSEurofirst 300 index was down 0.7 percent going into the close of trading. It was down nearly 6 per

Australian shares fell for a sixth straight session on Friday, their worst start to a year on record, as concerns about China's slowing economy and its policymaking ability weighed on investors. The S&P/ASX 200 index was down 19.54 points, or 0.4 percent,

Most Southeast Asian stock markets tracked a rebound in Asia on Friday, with Thai index climbing about 2 percent to trim losses on the week amid institutional buying as regional markets awaited the US payrolls report for interest rate direction. The Thai

UK shares were on track for their biggest fall in the first week of a year since 2000 despite steadying on Friday, after Chinese stocks regained some poise following a plunge the previous day that rattled global markets. Strong US jobs data also supported

The yen reversed course and sagged against the dollar while the Australian dollar rebounded on Friday after the People's Bank of China (PBOC) set a higher yuan guidance rate for the first time in nine days. The dollar was up 0.5 percent at 118.305 yen, pu

The dollar rose more than half a percent against both the euro and yen on Friday as measures taken by China to ease this week's market turmoil helped steady investors' nerves over market moves there and their influence on global financial stability. The y

The dollar climbed Friday on measures taken by China to ease this week's market turmoil and a hefty rise in US jobs in December, but gains were limited by worries over whether Beijing has done enough to calm its battered stock market. This week's steep lo

Investors unnerved by the global market rout due to fears about a weakening yuan and the Chinese economy piled into the yen on Thursday, sending it to the strongest levels against the dollar in over four months. The uncertainty on China led traders to sel

The weighted average of the Kazakh tenge fell to an all-time low of 351.88 per dollar on the Kazakhstan Stock Exchange on Friday from 345.01 on the previous trading day. The move followed a drop in the price of Brent oil which hit an 11-year low this week

Emerging Asian currencies on Friday rebounded as China tried to calm financial markets again, while regional units were set to suffer weekly losses on uncertainties over Beijing's stance on the renminbi's weakness. China's central bank set its daily yuan

The Sri Lankan rupee ended 0.1 percent firmer on Friday as dollar sales by a private bank helped boost the local currency amid continued demand for the greenback from importers, dealers said. The rupee closed at 143.75/85 per dollar, up from Thursday's cl

Sterling fell to a 5-1/2-year-low against the dollar and on track for a seventh straight week of losses against the euro on Friday, as investors bet the Bank of England will not raise interest rates until 2017. Selling accelerated after a better-than-fore

The Australian and New Zealand dollars broke a four-day losing streak on Friday after China's central bank wrong-footed investors by setting a much higher yuan guidance rate than expected. The Australian dollar was squeezed more than half a US cent higher

Former world number one Victoria Azarenka waltzed into the final of the Brisbane International when she thrashed American wildcard Samantha Crawford 6-0, 6-3 in just 68 minutes on Friday. Crawford had enjoyed an unexpected run to her first WTA semi-final

Swiss great Roger Federer overcame the effects of a recent illness and a tenacious Grigor Dimitrov to book a place in the semi-finals of the Brisbane International on Friday. Federer, the defending champion, edged Dimitrov 6-4, 6-7 (4/7), 6-4 in his fourt

International golfer and member of the Pakistan team Taimur Naseer led the opening day round with his gross score three under par 69 over 18 holes of the 54-holes Air Marshal Asghar Khan National Amateur Golf Championship, which got under way here at PAF

China's football body announced the sacking of national coach Alain Perrin on Friday after a disappointing run of results left their World Cup qualifying campaign hanging by a thread. The Chinese Football Association (CFA) said the decision had been made

South African fast bowler Dale Steyn is expected to be fit for the remaining two Tests of the series against England. But Steyn will have to prove his fitness ahead of the third Test starting at the Wanderers Stadium next Thursday after failing to see out

Barcelona striker Luis Suarez was on Friday banned for two Copa del Rey matches after being cited in the referee's report for calling Espanyol players "a waste of space" at the end of a heated Catalan derby. Barcelona said they would appeal the ban, argui

Michel Platini is clinging to hopes that he will retain control of Europe's cash-rich UEFA after his eight-year suspension forced him to withdraw from the race to become head of football's world body FIFA. Angrily blaming suspended FIFA leader Sepp Blatte

Rafael Nadal served his way to his first final of 2016 - and the 99th of his career - at the Qatar Open on Friday, beating Ukraine's Illya Marchenko in straight sets. The Spaniard, who endured a miserable 2015, showed he could be returning to his best wit

Australia's upcoming one-day campaign against India should be as feisty as ever, coach Darren Lehmann said Friday, adding the dynamic would be a good challenge for his young squad. Asked about the mood of the five-match ODI series, which gets under way at

Pakistan will host its Asia Oceania Group I Davis Cup tennis tie in Sri Lanka after opponents China refused to visit the violence-hit country over security fears, officials said Friday. The Pakistan Tennis Federation (PTF) said they had hoped that the cou

South Korea unleashed an ear-splitting propaganda barrage across its border with North Korea on Friday in retaliation for its nuclear test, while the United States called on China to end "business as usual" with its ally. The broadcasts, in rolling bursts

A British-born mother was jailed for more than five years on Friday, having tried to take her children to Syria to live under Islamic State group rule. The 34-year-old woman, who cannot be named for legal reasons, wanted to live under strict Shariah law,

Foreign special forces have been carrying out raids on an Islamic State stronghold in northern Iraq ahead of an offensive planned later this year to retake Mosul, the largest city under the group's control, Iraq's parliamentary speaker said. Several attac

Belgian investigators believe explosives used in the attacks in Paris in November may have been made in an apartment in Brussels that was rented under a false name and where a fingerprint of a key fugitive was found. Police found material that could be us

French fashion designer Andre Courreges, symbol of a futuristic style revolution in the 1960s and synonymous with mini-skirts and little white boots, has died at the age of 92. "Clothes should escape from conventions," Courreges once said. Fashion, he tho

The US military will inevitably have to lower its physical requirements so more women can fill infantry and commando roles, a top general said Friday. The comments from John Kelly, a four-star Marine general who is retiring from the head of the military's

A "catastrophic" bushfire has burnt through an historic town in Western Australia, razing 95 homes and leaving three people unaccounted for, officials said Friday. The out-of-control blaze 110 kilometres (68 miles) south of Perth more than doubled in size

UN Secretary-General Ban Ki-moon warned Friday that the use of cluster bombs in Yemen by the Saudi-led coalition may amount to war crimes. Ban said he had received "troubling reports" of cluster bomb attacks on January 6 on the rebel-held capital Sanaa. "

The EU pressed Libyan politicians to back a unity government Thursday, as the Islamic State group claimed suicide bombings that killed dozens and sparked fears of a jihadist expansion on Europe's doorstep. European Union foreign affairs chief Federica Mog

The United States released a suspected al Qaeda propagandist to the government of Kuwait on Friday, leaving a total of 104 inmates at the US naval prison in Guantanamo Bay, Cuba. The US Defence Department announced the repatriation of Faez Mohammed Ahmed

European scientists will send a command into space on Sunday to try to move and restore contact with the comet lander Philae that has fallen silent since the summer. After coming to rest in the shadows when it landed on a comet in November, Philae woke up

Two children were burnt to death after their house caught fire here on Friday. The blaze broke out in the house of Imran who was living there with his second wife Kubri. According to details, as soon as the couple went out of the house, the fire engulfed

Chairman Pakistan Peoples' Party Bilawal Bhutto Zardari arrived in the Lahore city on Friday afternoon to spend next few days in Punjab for party reorganisation. He was also accompanied by her sister Bakhtawar Bhutto. He was welcomed by the PPP Punjab Pre

Karachi Stock Exchange (KSE) will become the Pakistan Stock Exchange next week after merging with two other bourses to become the single share trading entity in the country, officials said Friday. The merger of the Karachi, Lahore and Islamabad Stock Exch

Armed forces of any country are most essential element which not only provide territorial protection to the country but also stabilise the nation in critical condition like earthquakes, bad weather conditions and storm to rescue the residents and shelter

Strong earthquake shocks were felt in several parts of country, including Lahore, Islamabad, Peshawar, Malakand, Mansehra, Haripur and Abbottabad, here on Friday at around 2.07 pm. According to Meteorological department, the magnitude of earthquake was re

The Sindh High Court (SHC) on Friday granted protective bails to Muttahida Qaumi Movement's (MQM) leaders Waseem AKhter and Haider Abbas Rizvi in different cases till January 22, 2016. The SHC bench headed by Justice Sadiq Hussain Bhatti was hearing the b

Senior Vice President FPCCI, Khalid Tawab has said that Iran and Saudi Arabia both are our brotherly Islamic countries. Both Iran and Saudi Arabia believe on unity and solidarity in the Muslim Ummah. Khalid Tawab shows serious concerns over the current si

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Friday said that Pakistan, a nuclear state, must play a 'leadership role', in resolving Saudi-Iran standoff, besides making its position clear that it is not part of any coalition aimed at targeting Ir

Provincial minister Bilal Yasin has spearheaded a string of raids by the Punjab Food Authority at the Shadman Market, targeting various food outlets. The outcome of one such a raid ended in sealing off the Big M Restaurant after being found guilty of poor

An accountability court on Friday handed over Hammad Arshad, owner of Globaco (Pvt) Ltd, to National Accountability Bureau (NAB) on one-day remand in a Rs 16 billion DHA City (Lahore) scam. Earlier the NAB officials produced the accused before Accountabil

Pakistan People's Party Chitral leader and former bureaucrat Sultan Wazir Khan has demanded of the government to expeditiously complete reconstruction and widening of the Torkhow and Mastuj roads, which are lingering for the last many years. In a press st

Provincial Health Minister Jam Mehtab Hussain Dahar has said that a comprehensive plan in collaboration with NGOs is being chalked out to save the lives of the people from expected heat wave that may affect Sindh in July. This he said stated while talking

A quadrilateral meeting of Pakistan, Afghanistan, China and the United States will be held here on Monday (January 11) to push forward the peace process in Afghanistan. According to diplomatic sources, Secretary Foreign Affairs, Aizaz Ahmad Chaudhry and D

Dr Asim Hussain Sindh Higher Education Commission (HEC) Chairman on Friday said that he does not know his crime till today. He denied charges once again while casually talking to the media before court hearing in Karachi's anti terrorism court (ATC). The

Supreme Court on Friday reserved verdict on review appeals filed against apex court decision to impose ban on hunting of Houbara bustard in the country. A five-member bench of the top court led by the Chief Justice Anwar Zaheer Jamali, comprising Justices

Speakers while paying rich tributes to Hakim Said at Shaheed Hakim Mohammed Said Memorial Lecture said that service to the nation and humanity was the sole purpose of Hakim Said's life as he had served the ailing people for more than 50 years till his las

K-Electric's profit after tax grew by 108 per cent or more than Rs 3.39 billion during the first quarter of current fiscal year (July-SeptFY16), according to figures released by the company. During the period under review, KE earned Rs 6.55bn compared to

Sheikh Bashir Ahmed, the father of Shabir Ahmed, Patron-in-Chief of Pakistan Bedwear Exporters Association, passed away yesterday. Dua-e-Khair will be held today at Baitusalam Masjid, Phase 4, DHA between 9:30-10:30 AM. For ladies, arrangements have been

On a summary initiated by Ministry of Parliamentary Affairs, the President has approved the Prime Minister's advice for summoning of the next session of the Senate on Monday, the 11th January, 2016 at 03:00 pm in the Parliament Building, Islamabad.

In the first bank robbery of the year 2016, at least eight armed robbers looted millions of rupees from a private bank in Korangi area, here on Friday. According to police, eight bandits barged into a bank in Korangi area and held security guards and othe

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has underscored the need for evolving a mechanism whereby traders of both China and Pakistan could issue invoices, cheques and letter of credits (LCs) in the currencies of

National Accountability Bureau (NAB) Karachi has recovered Rs 18.55 billion and arrested 172 persons in different corruption cases in 2015. This was informed to Chairman NAB Qamar Zaman Chaudhry during his visit to the Bureau for annual inspection. During

Renowned Geologist Professor Dr Muhammad Qasim Jan (TI), a member of COMSTEC and Pakistan Academy of Science visited University of Sindh's Centre for Pure and Applied Geology, in Jamshoro where he discussed avenues of mutual cooperation in his meeting wit

NBP Islamic Banking Group inaugurated its new NBP-Aitemad Branch at Main Boulevard Gulberg, Lahore near Siddique Trade Center. The inauguration ceremony was attended by NBP Islamic Banking Group Head Khawaja Amin-ul-Azam along with his supportive team mem

State Bank of Pakistan (SBP) has been voted as the best Central Bank for promoting Islamic finance by a poll conducted by 'International Finance News', an arm of Red Money Group Malaysia. The votes were received from various institutions, practitioners an

Indonesian Consul General in Karachi Hadi Santoso has said that his government was trying to promote bilateral trade and tourism that's why visa policy for Pakistanis has been softened. He said that under new visa policy Indonesian Consulate will issue vi

A two-day workshop arranged by the Institute of Physiotherapy & Rehabilitation Sciences (IPRS) concluded on Friday at LUMHS Jamshoro. While addressing the concluding session of the workshop the Vice Chancellor LUMHS Professor Noshad A Shaikh expressed tha

Model Customs Collectorate (MCC) Preventive on Friday claimed to have recovered substantial quantity of white heroin from foreign passenger at Jinnah International Airport. According to details, preventive staff posted at departure hall intercepted a Nige

The country's leather garments export fell to $136.996 million in July-November 2015-16, down by 19 percent, official figures said. Leather garments export decline stands at $31.917 million in July-November 2015-16 as compared to their export of $168.913

The proceedings of the Khyber Pakhtunkhwa Assembly were Friday adjourned due to the lack of quorum in the house. The provincial assembly resumed proceedings with the Deputy Speaker, Dr Meher Taj Roghani in the chair after an interval of sixteen days. Howe

First meeting of the National Disaster Management Plan Steering Committee convened at National Disaster Management Authority (NDMA), Prime Minister's Office on January 7-8, 2016. The Committee is mandated to monitor and evaluate the implementation of Nati

The Oil and Gas Development Company Limited (OGDCL) and other attached departments of the Ministry of Petroleum have handed over all the necessary records to National Accountability Bureau (NAB) which is investigating corruption cases against Dr Asim Huss

The spokesman for the Ministry of Finance here categorically rejected a news item appeared in a section of media regarding allegations of money laundering against Finance Minister Senator Ishaq Dar. The spokesman said the money laundering case was thrown

Chief of the Naval Staff, Admiral Muhammad Zakaullah on Friday visited the PLA (Navy) Ship LIUZHOU at Karachi and met the Chinese Flotilla Commander, Deputy Chief of Staff PLA (Navy) South Sea Fleet, Rear Admiral Yu Manjiang. A smartly turned out continge

The Benazir Income Support Programme (BISP) is all set to launch a new scientific survey across the country next year to identify those eligible for cash grants. In a background briefing to Business Recorder Friday, Minister of State and chairperso

KP Minister for Health Shahram Khan Tarakai has said that provincial government would provide state-of-the-art machinery, modern technology, specialist doctors, nurses and paramedics facilities for newly established Peshawar Institute of Cardiology (PIC).

A briefing session aimed at to review the draft of the Khyber Pakhtunkhwa Mineral Act, 2015 held at the office of Minerals Development Department on Friday. Khyber Pakhtunkhwa Senior Minister for Irrigation and Social Welfare, Sikandar Hayat Khan Sherpao

President Mamnoon Hussain has said that big corporations and organisations should patronise different sports in Pakistan so that popular sports of the country could flourish and our young players could bring laurels for their country without getting worri

The Directorate General of Post-Clearance Audit (PCA) Federal Board of Revenue (FBR) has made record detections of Rs 1.752 billion during July-December (2015-16) against Rs 223.37 million in the same period last fiscal year, showing a remarkable growth o

Pakistan Coating Show 2016 exhibition will be held on the 15th to 17th January, at the Expo Centre Lahore. This successful annual event continues to showcase the existing products and new technologies being nurtured in the coating industry of Pakistan.

"Popularity today doesn't mean popularity forever."

"A polio campaign in the Punjab will take place between January 11 and 13 as part of the National Immunisation Day," said Health Advisor Khawaja Salman Rafique on Friday. Advisor Rafique claimed as many as 18 million under-five children would get polio dr

A 10-year-old child committed suicide after his parents refused to give him pocket money in Jalalpur Peer Wala area on Friday. The boy namely Junaid asked for Rs 50 from his parents however; on refusal and getting rebuked the child locked himself in his r

The book building of the Hi-Tech Lubricants Limited has been over-subscribed by 2.24 times after the two-day book building process. The shares were offered at a base price of Rs 37 per share but following significantly high demand during the book building

A judicial magistrate has sent eight suspects, including a governing party youth wing leader, to jail after being found guilty of gang-raping a teenager. The accused summoned by the Race Course police on Friday were the governing party youth wing leader,

Punjab Chief Minister Shahbaz Sharif has said that livestock sector has a key role in the strengthening of economy. He said that a major segment of rural population is associated with livestock sector and development of this sector on permanent basis will

The United Business Group (UBG) of the FPCCI has said that Small and Medium Enterprises (SMEs) can double the national GDP if proper attention was paid to this critical sector. Comprehensive and holistic SME strategy, special incentives, improved focus, b

During the first half of current fiscal, cement sector continued to remain buoyant in domestic markets while exports remained under severe pressure thereby affecting the total growth in cement despatches. Despatches during the six months ended on 31st Dec

The Party Secretary of CPC Qingdao Committee, China, Li Qun on Friday said there is a vast scope of shifting industrial production facilities from the Chinese economic hub-Qaingdao to Punjab province. He expressed these views while heading a 12-member del

Under the directives of Wafaqi Mohtasib (Ombudsman) One Window Facilitation Desk will be set up at Sialkot International Airport shortly. Official sources told Business Recorder on Friday that step was being taken to facilitate the overseas Pakista

Turkey's commercial counsellor has signalled his country's interest in joint ventures with Pakistan in printing, security systems, building materials, construction services and textiles. Farhat Kavakli, who was the President of the Lahore Chamber of Comme

Police have released photos of more than hundred "most wanted" house maids who are allegedly involved in theft and robbery incidents in Karachi. According to police, the network of these thieves and robbers is too organised. Citizens have been asked to ge

Subsequent to approval of the schemes of integration of the stock exchanges by the Securities and Exchange Commission of Pakistan (SECP), the Karachi Stock Exchange Limited (KSE) will be arranging a comprehensive pre-production mock trading session for al

China has reiterated its support to Pakistan on counter terrorism and hoping that it will continue improving relations with India through peaceful way. When asked to comment on the two prime ministers' telephonic contacts on January 5 concerning the attac

The development of commercial buildings, in the federal capital, is at standstill as the Capital Development Authority (CDA) has tightened its building by-laws, sources in the authority told Business Recorder here on Friday. According to the source

The Federal Board of Revenue (FBR) has allowed Ahmad Nawaz General Manager, Pakistan Revenue Automation (Pvt) Limited (PRAL), Islamabad to hold the charge of the post of Chief Executive Officer (CEO), PRAL, Islamabad on Acting Charge basis. According to a

Suspected US drones hit parts of country 13 times in 2015, the lowest number of strikes in eight years, according to a report by the Bureau of Investigative Journalism. "The drones hit Pakistan's tribal areas 13 times last year, killing between 60 and 85

A total of 108,906 Pakistani visas were issued by the country's missions in United States during the tenure of incumbent government, Foreign Office told National Assembly on Friday. The Foreign Office, through a written reply, told the House that the visa

The Punjab Education Foundation (PEF) has announced a string of partnership agreements signing schedule for selected private schools under its education voucher scheme. These schools are to be selected during the scheme expansion phase 15 on January 12 an