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May 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-01-21
Singer pulls out of Pakistan business

Singer pulls out of Pakistan business

Singer Pakistan Limited has divested its entire shareholding in Pakistan to various independent investors in tranches under multiple transactions. The sale of about 32 million shares of the sewing machine manufacturer marked directorial changes on the com
Published 21 Jan, 2016 12:00am
Parliamentary Caucus elects Hasil Bizenjo as President

Parliamentary Caucus elects Hasil Bizenjo as President

All Parties Parliamentary Caucus on Rule of Law on Wednesday elected Mir Hasil Khan Bizenjo of National Party as its President. A meeting of the Caucus held here at a local hotel. The meeting unanimously elected Pakistan Muslim League-N MNA Awais Ahmed Kh
Published 21 Jan, 2016 12:00am
SECP, ICAP agree to set up independent Audit Oversight Board

SECP, ICAP agree to set up independent Audit Oversight Board

The SECP-ICAP joint committee finalised the framework to establish an Audit Oversight Board (AOB), which will be operationally and financially independent of ICAP and SECP. Dr Tariq Hassan, Advocate Supreme Court chaired sixth meeting of the SECP-ICAP joi
Published 21 Jan, 2016 12:00am
Brokers must implement CDD, KYC mechanisms: SECP
Exchange

Brokers must implement CDD, KYC mechanisms: SECP

The Securities and Exchange Commission of Pakistan (SECP) has said the stock market brokers should be well aware of the fact that Know Your Customer (KYC) and Customer Due Diligence (CDD) are becoming much more important globally for preventing identity t
Published 21 Jan, 2016 12:00am
SECP, PIDE sign MoU
Exchange

SECP, PIDE sign MoU

The Securities and Exchange Commission of Pakistan (SECP) and Pakistan Institute of Development Economics (PIDE) signed a Memorandum of Understanding (MoU) to establish cooperation for conducting investor education and awareness sessions for the students
Published 21 Jan, 2016 12:00am
NAB Pindi's Bureau performance described as 'very good'

NAB Pindi's Bureau performance described as 'very good'

Qamar Zaman Chaudhry, Chairman National Accountability Bureau (NAB) visited NAB Rawalpindi Regional Bureau for annual inspection. NAB Chairman's Inspection and Monitoring Team (CI&MT) was deputed to conduct annual inspection of NAB Rawalpindi Regional Bur
Published 21 Jan, 2016 12:00am
PML-Q flays attack

PML-Q flays attack

Condolences from top politicians have come, particularly from those of the Pakistan Muslim League-Quaid-i-Azam, following a gun-and-bomb attack on Wednesday on a university in the country's north-west which left 19 people dead and 17 injured. Party Presid
Published 21 Jan, 2016 12:00am
Zardari condemns attack

Zardari condemns attack

Former President Asif Ali Zardari has strongly condemned the attack on Bach Khan University Charsadda resulting in the martyrdom of tens of innocent people and injury to many more as "barbarity that will neither go unpunished nor weaken the resolve of the
Published 21 Jan, 2016 12:00am
Senate condemns attack on Bacha Khan University

Senate condemns attack on Bacha Khan University

The Upper House of the Parliament on Wednesday passed a unanimous resolution, condemning the cowardly terrorist attack on Bacha Khan University in Charsadda, with a call for adopting zero tolerance policy towards terrorism and formation of a parliamentary
Published 21 Jan, 2016 12:00am
Nisar condemns attack

Nisar condemns attack

Minister for Interior Chaudhry Nisar Ali Khan on Wednesday strongly condemned terrorist attack on Bacha Khan University in Charsadda and expressed heartfelt grief and sorrow over loss of precious lives. The Minister, who was personally monitoring the situ
Published 21 Jan, 2016 12:00am
Politicians condemn terrorist attack on university

Politicians condemn terrorist attack on university

Political leaders of different political parties have strongly condemned terrorist attack on Bacha Khan University, Charsadda and demanded taking steps for security of schools, colleges and universities in Khyber Pakhtunkhwa. In his sharp reaction to the
Published 21 Jan, 2016 12:00am
KP chief minister reiterates resolve against terrorism

KP chief minister reiterates resolve against terrorism

Chief Minister of Khyber Pakhtunkhwa Pervez Khattak has strongly condemned the terrorist attack at Bacha Khan University Charsadda and expressed his deepest sense of grief and sorrow on loss of precious lives. He also reiterated their commitment to contin
Published 21 Jan, 2016 12:00am
KP Governor visits campus, gets briefing on attack

KP Governor visits campus, gets briefing on attack

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan has said that the entire nation was united with the security forces in the fight against terrorism adding that the fight against militancy will be continued till the elimination of last terrorist. Gove
Published 21 Jan, 2016 12:00am
PCSF condemns attack

PCSF condemns attack

The Pakistan Civil Society Forum has condemned Wednesday's terror attack on the Bacha Khan University in Charsadda, with over 600 people gathering at the university to remember the dead and also the country's north-west politician, Bacha Khan. In a statem
Published 21 Jan, 2016 12:00am
MSF students protest against attack

MSF students protest against attack

Students of Muslim Students Federation (MSF) on Wednesday staged a demonstration in Chowk Nawan Shehr to condemn the terrorists' activity in Charsadda's Bacha Khan University. Students shouted slogans against the terrorists and their facilitators and dema
Published 21 Jan, 2016 12:00am
German Ambassador condemns Charsadda attack

German Ambassador condemns Charsadda attack

Ambassador of Germany in Pakistan, Ina Lepel called on Punjab Chief Minister Muhammad Shahbaz Sharif, here Wednesday. German Ambassador condemned terrorist attack at Bacha Khan University in Charsadda and expressed deep sense of sorrow and grief over the
Published 21 Jan, 2016 12:00am
Charsadda attack: Nawaz hails Modi's statement

Charsadda attack: Nawaz hails Modi's statement

The Prime Minister of Pakistan has appreciated the sentiments expressed by the Prime Minister of India with regard to the tragic and cowardly terrorist attack against the innocent students and faculty members of the Bacha Khan University in Charsadda. "Th
Published 21 Jan, 2016 12:00am
Premier Insurance appoints Dr Imran Taqi as advisor

Premier Insurance appoints Dr Imran Taqi as advisor

Premier Insurance Limited (PIL), a leading insurer with a vision of serving the nation has appointed Dr Muhammad Imran Taqi Usmani as Shariah Advisor and Ernst & Young Ford Rhodes Sidat Hyder as Shariah Auditor. Dr Muhammad Imran Taqi Usmani, a renowned I
Published 21 Jan, 2016 12:00am
24 presidential orders issued in three years

24 presidential orders issued in three years

The government has issued 24 presidential orders and promulgated 36 presidential ordinances on various occasions during the last three years. This was stated in a written reply to National Assembly by Minister for Law and Justice [additional in-charge] Pe
Published 21 Jan, 2016 12:00am
Cathay Pacific traffic figures increase
Currency

Cathay Pacific traffic figures increase

Cathay Pacific Airways recently released combined Cathay Pacific and Dragonair traffic figures for December 2015 that show an increase in both the number of passengers carried and the volume of cargo and mail uplifted compared to the same month in 2014. C
Published 21 Jan, 2016 12:00am
Russia urged to complete North-South gas line at the earliest: Khaqan

Russia urged to complete North-South gas line at the earliest: Khaqan

Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi, Wednesday underlined the need for early completion of the North-South gas pipeline project to deal with the growing gas demand of power and industrial sectors of the country. The minister
Published 21 Jan, 2016 12:00am
DG Russian Helicopters to meet Rana Tanveer

DG Russian Helicopters to meet Rana Tanveer

Director General Russian Helicopters Alexander Mikheev, along with a delegation, will call on Federal Minister for Defence Production Rana Tanveer Hussain here Thursday. The Country Representative of Tenel, South Africa is also scheduled to have a separat
Published 21 Jan, 2016 12:00am
REAP arranges awareness workshop

REAP arranges awareness workshop

Rice Exporters Association of Pakistan (REAP) arranged an awareness workshop for its members here on Wednesday to discuss the challenges and issues being faced by the rice exporters to European and American markets and importance of meeting the specificat
Published 21 Jan, 2016 12:00am
SBP to set up Shariah-compliant open market

SBP to set up Shariah-compliant open market

The deputy governor of the State Bank of Pakistan has announced that the bank is setting up a Shariah-compliant open market to manage liquidity of the Islamic banking sector. Deputy Governor, Saeed Ahmed's announcement came on Wednesday as he addressed th
Published 21 Jan, 2016 12:00am
'Rescue 1122 saves property worth Rs 190 billion by swift response'

'Rescue 1122 saves property worth Rs 190 billion by swift response'

The Punjab Emergency Service (Rescue 1122) claims to have saved properties worth Rs 190 billion by swift response and professional fire-fighting. The Rescue 1122 fire service has responded to 71,751 fire emergencies. In fire incidents, as many as 4,740 pe
Published 21 Jan, 2016 12:00am
Supply of LNG: Chairman PAKSEA sees anti-government conspiracy

Supply of LNG: Chairman PAKSEA sees anti-government conspiracy

The Pakistan Sweater Exporter Association Chairman Shahzad Azam Khan has lambasted the oil and gas bureaucracy for conspiring to fail the government by offering LNG on exuberant rate to the value added textile industry. He said the Oil and gas officials,
Published 21 Jan, 2016 12:00am
Lawyers flay attack

Lawyers flay attack

Lawyers have condemned Wednesday's terror attack on Bacha Khan University in Charsadda and expressed solidarity with the victims' families. The Pakistan Bar Council has already announced a nation-wide mourning day to condemn it. In a statement released on
Published 21 Jan, 2016 12:00am
PAT condemns Charsadda attack

PAT condemns Charsadda attack

Pakistan Awami Tehreek (PAT) condemned the cowardly terrorist attack on Bacha Khan University, Charsadda, in which 20 persons were martyred. Secretary General of Pakistan Awami Tehreek, Khurram Nawaz Gandapur and Chief Organiser Major Mohammed Saeed (Retd
Published 21 Jan, 2016 12:00am
BISP organises workshop on nutrition

BISP organises workshop on nutrition

BISP organised a training workshop for its BISP Beneficiary Committee (BBCs) in Rawalpindi divisional office in collaboration with National Fortification Alliance (NFA). This initiative sets a very important agenda for BBCs for generating awareness among
Published 21 Jan, 2016 12:00am
TCS Cool Control service launched in Lahore

TCS Cool Control service launched in Lahore

TCS, Pakistan's leading courier delivery service, launched its Temperature Controlled Delivery service countrywide under the name TCS Cool Control. The launch in Lahore was preceded by the inauguration of a similar service in Karachi last week. The servic
Published 21 Jan, 2016 12:00am
Two held for involvement in Hundi

Two held for involvement in Hundi

Two people have been arrested after being found guilty of involvement in the illegal money transfer Hundi following a raid by the Federal Investigation Agency. The arrests came on Wednesday as an agency team raided the Naqi Market on the Mall in Lahore. T
Published 21 Jan, 2016 12:00am
PFA teams seal, fine canteens of hospitals

PFA teams seal, fine canteens of hospitals

Teams of the Punjab Food Authority have carried out a series of surprise swoops at canteens of various city hospitals and sealed and heavily fined most of them. Operations Director Ayesha Mumtaz who led the teams said on Wednesday that the General Hospita
Published 21 Jan, 2016 12:00am
Nepra flayed for allowing KE to raise tariff for November

Nepra flayed for allowing KE to raise tariff for November

Representatives belonging to Pakistan People's Party, KE Consumers Forum and Pasban have bitterly criticised National Electric Power Regulatory Authority (Nepra) for allowing K-Electric to increase its tariff to 57.6 61paisa per unit for November 2015 und
Published 21 Jan, 2016 12:00am
Newly-selected trade officers reject stations offered by government

Newly-selected trade officers reject stations offered by government

Commerce Ministry is reportedly in a state of shock as four newly selected trade officers have rejected Ministry's offered stations, well informed sources told Business Recorder. A couple of weeks ago, the Prime Minister had approved the names of t
Published 21 Jan, 2016 12:00am
Provincial presidency: Sarwar decides to contest election

Provincial presidency: Sarwar decides to contest election

The former organiser of the Punjab-based Pakistan Tehreek-e-Insaf (PTI) said, "He plans to contest the election for provincial presidency". Chaudhary Mohammad Sarwar's announcement came as he spoke with the media after an All-Parties Conference arranged b
Published 21 Jan, 2016 12:00am
Waseem Akhtar gets extension in bail

Waseem Akhtar gets extension in bail

A local court here on Wednesday extended bail of Muttahida Qaumi Movement (MQM) leader and nominated mayor Waseem Akhtar in two cases and allowed the plea of Haidar Abbas Rizvi for exemption from appearing in court. MQM leaders were presented before the m
Published 21 Jan, 2016 12:00am
IG Sindh seeks security details around universities

IG Sindh seeks security details around universities

Inspector General of Police, Sindh, Ghulam Hyder Jamali has sought details about the cops deployed in different universities across the province for security purpose. Chairing a meeting at Police Headquarters here on Wednesday, the Provincial Police Chief
Published 21 Jan, 2016 12:00am
Karachi operation under way within parameters of NAP: Ebad

Karachi operation under way within parameters of NAP: Ebad

Governor of Sindh, Dr Ishrat-ul-Ebad Khan here on Wednesday said the Karachi Operation is being conducted within the parameters of National Action Plan. Talking to participants of the inland-study tour of 48th PN and 13th correspondent staff courses being
Published 21 Jan, 2016 12:00am
President for stronger economic ties with Nepal
Exchange

President for stronger economic ties with Nepal

President Mamnoon Hussain on Wednesday called for making vigorous efforts to strengthen economic relations between Pakistan and Nepal. He underlined the new sectors for bilateral economic cooperation should be explored to expand economic cooperation parti
Published 21 Jan, 2016 12:00am
Drunken pilot: ATC drops terror charges

Drunken pilot: ATC drops terror charges

An anti-terrorism court has dropped terror charges against a private airline pilot after crashing his plane on November 3 when he was under the influence of alcohol.
Published 21 Jan, 2016 12:00am
Global growth forecast slashed

Global growth forecast slashed

This is apropos 'IMF cuts global growth forecast as China slows' carried by Business Recorder yesterday. According to it, the International Monetary Fund has cut its global growth forecasts for the third time in less than a year. Citing perhaps the
Published 21 Jan, 2016 12:00am
What is in store for Obama after the White House?

What is in store for Obama after the White House?

In one year, Barack Obama will leave 1600 Pennsylvania Avenue. So what will life be like for America's first black president after two terms at the White House? Former presidents rarely remain in Washington after living and working in the US capital's old
Published 21 Jan, 2016 12:00am
Tax assessment and abuse of process of law

Tax assessment and abuse of process of law

It is generally seen in the reassessment proceedings under Income Tax law1 that the assessing officers tend to make inquiries and ask questions at the start of the reassessment proceedings which are totally unconnected to income that is believed to have e
Published 21 Jan, 2016 12:00am
VIEWPOINT: Sindh government's 'couldn't care less' attitude

VIEWPOINT: Sindh government's 'couldn't care less' attitude

At least three recent stories coming out of Karachi show good governance continues to be of little concern for the Sindh government. First of course is the situation in the Thar district that remains in the news because of people dying from hunger and sta
Published 21 Jan, 2016 12:00am
Procedural improvement in subscription of securities
Exchange

Procedural improvement in subscription of securities

During the last few years, the Securities and Exchange Commission of Pakistan (SECP) has assumed an important role in regulating business houses and industry in the country. In keeping with its role, it proposed an improved procedure on 14th January, 2016
Published 21 Jan, 2016 12:00am
The Weather

The Weather

The weather report on Wednesday (January 20, 2016) and the forecast for Thursday (January 21, 2016).

Published 21 Jan, 2016 12:00am
Foreign investors: perceptions and plans

Foreign investors: perceptions and plans

It is good to see that government of Pakistan has been interacting very closely with the Overseas Investors Chamber of Commerce and Industry (OICCI) to know their point of view about the flow of investment into the country. During a meeting in Islamabad w
Published 21 Jan, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (January 20, 2016).

Published 21 Jan, 2016 12:00am
Current account deficit declines by 48 percent
Cotton

Current account deficit declines by 48 percent

Pakistan''s current account deficit narrowed down significantly by 48 percent during the first half of the current fiscal year (FY16) supported by modest increase in remittances, continuous Coalition Support Fund (CSF) inflows and lower goods trade defici
Published 21 Jan, 2016 12:00am
Current account deficit declines by 48 percent
Cotton

Current account deficit declines by 48 percent

Pakistan's current account deficit narrowed down significantly by 48 percent during the first half of the current fiscal year (FY16) supported by modest increase in remittances, continuous Coalition Support Fund (CSF) inflows and lower goods trade deficit
Published 21 Jan, 2016 12:00am
Current account deficit declines by 48 percent
Cotton

Current account deficit declines by 48 percent

Pakistan's current account deficit narrowed down significantly by 48 percent during the first half of the current fiscal year (FY16) supported by modest increase in remittances, continuous Coalition Support Fund (CSF) inflows and lower goods trade deficit
Published 21 Jan, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (January 20, 2016).

Published 21 Jan, 2016 12:00am
March census contingent upon law, order

March census contingent upon law, order

The government has planned to carry out national housing census on March 28; however, security arrangements for the countrywide exercise have not so far been finalised, according to sources in the Pakistan Bureau of Statistics (PBS). Sources have not rule
Published 21 Jan, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (January 20, 2016)

Published 21 Jan, 2016 12:00am
March census contingent upon law, order

March census contingent upon law, order

The government has planned to carry out national housing census on March 28; however, security arrangements for the countrywide exercise have not so far been finalised, according to sources in the Pakistan Bureau of Statistics (PBS). Sources have not rule
Published 21 Jan, 2016 12:00am
Khamenei condemns Saudi embassy attack

Khamenei condemns Saudi embassy attack

Iran's Supreme Leader Ayatollah Ali Khamenei on Wednesday thanked the Revolutionary Guards for briefly detaining US sailors last week, but condemned the attack on the Saudi embassy in Tehran as an action that damaged the country. Protesters stormed the Sa
Published 21 Jan, 2016 12:00am
Khamenei condemns Saudi embassy attack

Khamenei condemns Saudi embassy attack

Iran's Supreme Leader Ayatollah Ali Khamenei on Wednesday thanked the Revolutionary Guards for briefly detaining US sailors last week, but condemned the attack on the Saudi embassy in Tehran as an action that damaged the country. Protesters stormed the Sa
Published 21 Jan, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (January 20, 2016).

Published 21 Jan, 2016 12:00am
Xi opens refinery with Saudi King Salman

Xi opens refinery with Saudi King Salman

Chinese President Xi Jinping and Saudi King Salman on Wednesday attended a ceremony to mark the opening of a joint-venture refinery, a symbol of Beijing's deepening involvement in the Middle East. The event took place in the Saudi capital Riyadh on the se
Published 21 Jan, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (January 20, 2016).

Published 21 Jan, 2016 12:00am
Xi opens refinery with Saudi King Salman

Xi opens refinery with Saudi King Salman

Chinese President Xi Jinping and Saudi King Salman on Wednesday attended a ceremony to mark the opening of a joint-venture refinery, a symbol of Beijing's deepening involvement in the Middle East. The event took place in the Saudi capital Riyadh on the se
Published 21 Jan, 2016 12:00am
Seven dead as suicide bomber hits Afghan TV channel bus

Seven dead as suicide bomber hits Afghan TV channel bus

Seven people were killed Wednesday when a suicide bomber struck a minibus carrying employees of popular Afghan TV channel TOLO, just months after the Taliban declared the network a legitimate "military target". The bombing near the Russian embassy in down
Published 21 Jan, 2016 12:00am
Seven dead as suicide bomber hits Afghan TV channel bus

Seven dead as suicide bomber hits Afghan TV channel bus

Seven people were killed Wednesday when a suicide bomber struck a minibus carrying employees of popular Afghan TV channel TOLO, just months after the Taliban declared the network a legitimate "military target". The bombing near the Russian embassy in down
Published 21 Jan, 2016 12:00am
THE RUPEE: one paisa rise
Currency

THE RUPEE: one paisa rise

The rupee inched up against the dollar on the money market on Wednesday, dealers said. The rupee improved after gaining one-paisa in terms of the dollar for buying and selling at Rs 104.92 and Rs 104.94 respectively, they said.
Published 21 Jan, 2016 12:00am
THE RUPEE: one paisa rise
Currency

THE RUPEE: one paisa rise

The rupee inched up against the dollar on the money market on Wednesday, dealers said. The rupee improved after gaining one-paisa in terms of the dollar for buying and selling at Rs 104.92 and Rs 104.94 respectively, they said.
Published 21 Jan, 2016 12:00am
CoAS visits Charsadda

CoAS visits Charsadda

Chief of Army Staff General Raheel Sharif on Wednesday reached Charsaeda and visited Bacha Khan University and met troops of law enforcement agencies who carried out operation. According to a tweet by Director General Inter Services Public Relation (ISPR)
Published 21 Jan, 2016 12:00am
CoAS visits Charsadda

CoAS visits Charsadda

Chief of Army Staff General Raheel Sharif on Wednesday reached Charsaeda and visited Bacha Khan University and met troops of law enforcement agencies who carried out operation. According to a tweet by Director General Inter Services Public Relation (ISPR)
Published 21 Jan, 2016 12:00am
Prime Minister condemns attack

Prime Minister condemns attack

Prime Minister Nawaz Sharif on Wednesday while vowing a "ruthless" response to the terrorists who attacked the Bacha Khan University in Charsadda said the entire nation stands united to thwart the designs of miscreants. The Prime Minister, who is here in
Published 21 Jan, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (January 20, 2016).

Published 21 Jan, 2016 12:00am
Prime Minister condemns attack

Prime Minister condemns attack

Prime Minister Nawaz Sharif on Wednesday while vowing a "ruthless" response to the terrorists who attacked the Bacha Khan University in Charsadda said the entire nation stands united to thwart the designs of miscreants. The Prime Minister, who is here in
Published 21 Jan, 2016 12:00am
'Mourning day' today

'Mourning day' today

The entire nation will observe a 'Mourning Day' on Thursday (today) to condemn the dastardly attack on the Bacha Khan University, Charsadda. The decision to observe 'mourning day' was taken by Prime Minister Nawaz Sharif, to pay tributes to those who embr
Published 21 Jan, 2016 12:00am
'Mourning day' today

'Mourning day' today

The entire nation will observe a 'Mourning Day' on Thursday (today) to condemn the dastardly attack on the Bacha Khan University, Charsadda. The decision to observe 'mourning day' was taken by Prime Minister Nawaz Sharif, to pay tributes to those who embr
Published 21 Jan, 2016 12:00am
Equities whacked by oil tumble; bear confirmation nears
Currency

Equities whacked by oil tumble; bear confirmation nears

Global equity markets dropped to their lowest levels in 2-1/2 years on Wednesday to put them on pace for one of the most dismal monthly performances on record, as oil once again tumbled to 13-year lows. The MSCI World equity index slumped 3.4 percent to i
Published 21 Jan, 2016 12:00am
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