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May 15, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-02-10
TEVTA plans to begin Chinese language course in more cities

TEVTA plans to begin Chinese language course in more cities

The Technical Education and Vocational Training Authority (TEVTA) says it is planning to kick-start a Chinese language course in other cities of the Punjab. The three-month course will begin in Rawalpindi, Faisalabad, Gujranwala and Sialkot. "Currently, t
Published 10 Feb, 2016 12:00am
LG elections: LHC refuses to consider Opposition's call

LG elections: LHC refuses to consider Opposition's call

Lahore High Court has refused to consider a call by opposition parties to stay the election on reserved seats in the Local Government election when a law officer made it clear that the Election Commission had already suspended the election on these seats.
Published 10 Feb, 2016 12:00am
Cotton hit over four-month low in broad commodities sell-off
Cotton

Cotton hit over four-month low in broad commodities sell-off

Cotton futures fell to the lowest in more than four months on Monday, weighed down by bearish sentiment in global markets and liquidation as traders awaited direction from the US government supply and demand report due on Tuesday. "We're probably seeing t
Published 10 Feb, 2016 12:00am
Copper hits two-week low as growth fears hit sentiment
Exchange

Copper hits two-week low as growth fears hit sentiment

Copper prices tumbled to two-week lows on Tuesday as the rout in equities undermined growth sentiment, though volumes were subdued by a holiday in China and a market waiting for clues on demand prospects in the country. Benchmark copper ended 2.2 percent
Published 10 Feb, 2016 12:00am
Kuwait to raise crude output in 2016, sees new deals in Europe

Kuwait to raise crude output in 2016, sees new deals in Europe

Kuwait plans to raise its crude oil production by 150,000 barrels per day (bpd) in the third quarter and aims to sign new export deals with European customers soon, a senior Kuwaiti official was quoted as saying on Tuesday. New contracts are to be signed
Published 10 Feb, 2016 12:00am
Oil slumps seven percent ahead on expected US crude build, slowdown fear

Oil slumps seven percent ahead on expected US crude build, slowdown fear

Oil prices fell 7 percent on Tuesday as equity markets remained weak, forecasts called for record high US crude stockpiles to grow more, and the latest global energy demand outlooks did not look strong enough to eliminate the swelling glut. US gasoline fu
Published 10 Feb, 2016 12:00am
Tokyo rubber extends losses
Exchange

Tokyo rubber extends losses

Benchmark Tokyo rubber futures extended losses into a third session on Tuesday, plunging to a fresh 4-week low and near its 7-year trough hit last month, as the yen's jump and falling share prices prompted a sharp sell-off. The Tokyo Commodity Exchange ru
Published 10 Feb, 2016 12:00am
Soyabeans set new 2016 low as rains hit dry Argentina
Exchange

Soyabeans set new 2016 low as rains hit dry Argentina

US soyabean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Wheat futures dropped to a one-month low and corn dropped to its lowest level in three wee
Published 10 Feb, 2016 12:00am
Cocoa futures fall

Cocoa futures fall

Cocoa futures on ICE fell on Tuesday, in seesaw dealings as prices consolidated above a recent 10-month low and shrugged off concerns about potential crop losses in West Africa linked to dry Harmattan winds. Raw sugar turned lower and coffee futures eased
Published 10 Feb, 2016 12:00am
Gold surges in New York

Gold surges in New York

The price of gold jumped 2 percent to a 7-1/2-month high on Monday, briefly nudging above the psychological level of $1,200 an ounce, as sliding stock markets and worries over global economic growth prompted investors to seek safety. Stock indexes world-w
Published 10 Feb, 2016 12:00am
Gold edges up in Asia

Gold edges up in Asia

Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011. Tuesday would mark gold's eighth straight day of gains as investors sou
Published 10 Feb, 2016 12:00am
Gold steadies in Europe
Exchange

Gold steadies in Europe

Gold steadied on Tuesday after surging to a 7-1/2 month high the previous day but was still underpinned by risk aversion as equities remained volatile and the dollar was weak. Fears that the global economy could tips into recession and worries about some
Published 10 Feb, 2016 12:00am
US MIDDAY: soyabeans down

US MIDDAY: soyabeans down

US soyabean futures fell to a fresh seven-week low on expectations the US government will increase its forecasts for domestic grain inventories later on Tuesday, adding to a global glut of grain supplies. Wheat futures fell to a one-month low and corn tou
Published 10 Feb, 2016 12:00am
US MIDDAY: gold nears 7-1/2-month high
Exchange

US MIDDAY: gold nears 7-1/2-month high

Gold turned higher on Tuesday but hovered beneath the previous session's 7-1/2-month high of $1,200 an ounce, buoyed by risk aversion as equities remained volatile and the dollar extended losses. Fears the global economy could tips into recession and worr
Published 10 Feb, 2016 12:00am
More groups joining ISIL?

More groups joining ISIL?

This is apropos a Business Recorder news item '34 groups now allied to IS: UN chief' carried by the newspaper on last Sunday. It has quoted the United Nations Secretary General Ban Ki-moon as saying that thirty-four militant groups from around the
Published 10 Feb, 2016 12:00am
Shiver me timbers! Iceland's Pirate Party could seize power

Shiver me timbers! Iceland's Pirate Party could seize power

Iceland boasts full employment, a peaceful society and a well-functioning welfare state - yet voters are so frustrated with the political establishment they're ready to elect the Pirate Party to power. The country's legislative elections are still a year
Published 10 Feb, 2016 12:00am
SBP on debt
Exchange

SBP on debt

The readers would recall that I wrote an extensive paper on Pakistan's debt situation, published in the current issue of a quarterly, 'blue-chip'. The highly abridged version of the paper was published in Business Recorder. The motivation of writin
Published 10 Feb, 2016 12:00am
Way out of mounting debt trap

Way out of mounting debt trap

Pakistan's economy has always remained import-based and aid-assisted. It is overwhelmingly import-based because our manufacturers have continued to feel financially more comfortable in low value-added exports. The burgeoning gap between flagging export pr
Published 10 Feb, 2016 12:00am
Preparing for population census

Preparing for population census

While the government should have been all set to hold population and housing census after a long gap of 18 years, it does not seem to be properly prepared for the task. Some lose ends remain to be tied. To start with, as per the plan, Army personnel are t
Published 10 Feb, 2016 12:00am
Apathy towards export expansion
Exchange

Apathy towards export expansion

While exports of the country continue to suffer and exporters are crying for some compensatory measures, government does not seem to be bothered about the deteriorating situation on this front. Chairman Pakistan Apparel Forum Javed Balwani and Chief Co-or
Published 10 Feb, 2016 12:00am
'Senior Afghan Taliban member dies'

'Senior Afghan Taliban member dies'

A senior Afghan Taliban member has allegedly died in Pakistan after an illness, militant sources said Tuesday. Mullah Muhammad Hassan Rahmani, who was in his mid-fifties and a member of the group's Leadership Council, died of cancer on Monday night in a h
Published 10 Feb, 2016 12:00am
The Weather

The Weather

The weather report on Tuesday (February 09, 2016) and the forecast for Wednesday (February 10, 2016).

Published 10 Feb, 2016 12:00am
'Senior Afghan Taliban member dies'

'Senior Afghan Taliban member dies'

A senior Afghan Taliban member has allegedly died in Pakistan after an illness, militant sources said Tuesday. Mullah Muhammad Hassan Rahmani, who was in his mid-fifties and a member of the group's Leadership Council, died of cancer on Monday night in a h
Published 10 Feb, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
MCB Bank earns Rs 25.551 billion profit after tax

MCB Bank earns Rs 25.551 billion profit after tax

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the year ended December 31, 2015. The Bank continued with its strong
Published 10 Feb, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
MCB Bank earns Rs 25.551 billion profit after tax

MCB Bank earns Rs 25.551 billion profit after tax

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the year ended December 31, 2015. The Bank continued with its strong
Published 10 Feb, 2016 12:00am
MCB Bank earns Rs 25.551 billion profit after tax

MCB Bank earns Rs 25.551 billion profit after tax

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the year ended December 31, 2015. The Bank continued with its strong
Published 10 Feb, 2016 12:00am
MCB Bank earns Rs 25.551 billion profit after tax

MCB Bank earns Rs 25.551 billion profit after tax

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on Tuesday to review the performance of the Bank and approve the financial statements for the year ended December 31, 2015. The Bank continued with its strong
Published 10 Feb, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (February 09, 2016)

Published 10 Feb, 2016 12:00am
RLNG-fired plant: Nepra facing a Catch-22

RLNG-fired plant: Nepra facing a Catch-22

National Electric Power Regulatory Authority (Nepra) is facing a catch-22 with respect to approval of generation licence for RLNG-fired 1000- 1500 MW Quaid-e-Azam Thermal Power Plant Limited (QATPL) at Bhikki, Sheikhupura, as the Punjab and federal govern
Published 10 Feb, 2016 12:00am
RLNG-fired plant: Nepra facing a Catch-22

RLNG-fired plant: Nepra facing a Catch-22

National Electric Power Regulatory Authority (Nepra) is facing a catch-22 with respect to approval of generation licence for RLNG-fired 1000- 1500 MW Quaid-e-Azam Thermal Power Plant Limited (QATPL) at Bhikki, Sheikhupura, as the Punjab and federal govern
Published 10 Feb, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
RLNG-fired plant: Nepra facing a Catch-22

RLNG-fired plant: Nepra facing a Catch-22

National Electric Power Regulatory Authority (Nepra) is facing a catch-22 with respect to approval of generation licence for RLNG-fired 1000- 1500 MW Quaid-e-Azam Thermal Power Plant Limited (QATPL) at Bhikki, Sheikhupura, as the Punjab and federal govern
Published 10 Feb, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
Subsidy on sugar export linked to minimum cane price

Subsidy on sugar export linked to minimum cane price

Following the directives of the federal government, State Bank of Pakistan (SBP) has linked cash incentive on export of sugar to minimum sugarcane price. Economic Co-ordination Committee (ECC) of the cabinet in its meeting held on January 13, 2016 conside
Published 10 Feb, 2016 12:00am
Subsidy on sugar export linked to minimum cane price

Subsidy on sugar export linked to minimum cane price

Following the directives of the federal government, State Bank of Pakistan (SBP) has linked cash incentive on export of sugar to minimum sugarcane price. Economic Co-ordination Committee (ECC) of the cabinet in its meeting held on January 13, 2016 conside
Published 10 Feb, 2016 12:00am
Subsidy on sugar export linked to minimum cane price

Subsidy on sugar export linked to minimum cane price

Following the directives of the federal government, State Bank of Pakistan (SBP) has linked cash incentive on export of sugar to minimum sugarcane price. Economic Co-ordination Committee (ECC) of the cabinet in its meeting held on January 13, 2016 conside
Published 10 Feb, 2016 12:00am
THE RUPEE: rates decline
Exchange

THE RUPEE: rates decline

The rupee could not maintain its rising trend against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee lost 63-paisa in relation to the dollar for buying and selling at Rs 104.73 and Rs 104.76 respectively, they
Published 10 Feb, 2016 12:00am
FBR criticised for ''violating'' rules

FBR criticised for ''violating'' rules

The Federal Board of Revenue has violated rules and regulations by withdrawing Rs 851 million from bank accounts of China Harbour Engineering Company Limited as the matter is still pending adjudication. Chairman Standing Committee on Finance, Revenue, Eco
Published 10 Feb, 2016 12:00am
THE RUPEE: rates decline
Exchange

THE RUPEE: rates decline

The rupee could not maintain its rising trend against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee lost 63-paisa in relation to the dollar for buying and selling at Rs 104.73 and Rs 104.76 respectively, they
Published 10 Feb, 2016 12:00am
FBR criticised for 'violating' rules

FBR criticised for 'violating' rules

The Federal Board of Revenue has violated rules and regulations by withdrawing Rs 851 million from bank accounts of China Harbour Engineering Company Limited as the matter is still pending adjudication. Chairman Standing Committee on Finance, Revenue, Eco
Published 10 Feb, 2016 12:00am
FBR criticised for 'violating' rules

FBR criticised for 'violating' rules

The Federal Board of Revenue has violated rules and regulations by withdrawing Rs 851 million from bank accounts of China Harbour Engineering Company Limited as the matter is still pending adjudication. Chairman Standing Committee on Finance, Revenue, Eco
Published 10 Feb, 2016 12:00am
Rs 18 billion approved for ASF, CAA & PMD projects

Rs 18 billion approved for ASF, CAA & PMD projects

National Assembly Standing Committee on Cabinet Secretariat has approved Rs 18 billion proposed by Aviation Division under Public Sector Development Programme (PSDP) - 2016-17 for 26 development projects for Airport Security Force (ASF), Civil Aviation Au
Published 10 Feb, 2016 12:00am
Rs 18 billion approved for ASF, CAA & PMD projects

Rs 18 billion approved for ASF, CAA & PMD projects

National Assembly Standing Committee on Cabinet Secretariat has approved Rs 18 billion proposed by Aviation Division under Public Sector Development Programme (PSDP) - 2016-17 for 26 development projects for Airport Security Force (ASF), Civil Aviation Au
Published 10 Feb, 2016 12:00am
Rs 18 billion approved for ASF, CAA & PMD projects

Rs 18 billion approved for ASF, CAA & PMD projects

National Assembly Standing Committee on Cabinet Secretariat has approved Rs 18 billion proposed by Aviation Division under Public Sector Development Programme (PSDP) - 2016-17 for 26 development projects for Airport Security Force (ASF), Civil Aviation Au
Published 10 Feb, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (February 09, 2016).

Published 10 Feb, 2016 12:00am
Snowy New Hampshire votes in key US primary

Snowy New Hampshire votes in key US primary

New Hampshire voters trudged through snow glinting in the sunshine Tuesday for the second key test of the 2016 White House race, with Donald Trump chasing victory and Hillary Clinton looking to narrow the gap on local hero Bernie Sanders. Once every four
Published 10 Feb, 2016 12:00am
Snowy New Hampshire votes in key US primary

Snowy New Hampshire votes in key US primary

New Hampshire voters trudged through snow glinting in the sunshine Tuesday for the second key test of the 2016 White House race, with Donald Trump chasing victory and Hillary Clinton looking to narrow the gap on local hero Bernie Sanders. Once every four
Published 10 Feb, 2016 12:00am
Syria civil war: government cautioned to be careful

Syria civil war: government cautioned to be careful

Senate Standing Committee on Foreign Affairs on Tuesday cautioned the government to be careful in cooperation with the Saudi-led 34-nation coalition against terrorism especially after the kingdom's announcement of sending ground troops to Syria. The commi
Published 10 Feb, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2016 12:00am
Syria civil war: government cautioned to be careful

Syria civil war: government cautioned to be careful

Senate Standing Committee on Foreign Affairs on Tuesday cautioned the government to be careful in cooperation with the Saudi-led 34-nation coalition against terrorism especially after the kingdom's announcement of sending ground troops to Syria. The commi
Published 10 Feb, 2016 12:00am
LNG deal to be signed today

LNG deal to be signed today

Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi has said that Pakistan on Wednesday (today) will sign a deal with Qatar for importing 400 Million Cubic Feet per Day (MMCFD) of Liquefied Natural Gas (LNG) for 15 year. Talking to
Published 10 Feb, 2016 12:00am
LNG deal to be signed today

LNG deal to be signed today

Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi has said that Pakistan on Wednesday (today) will sign a deal with Qatar for importing 400 Million Cubic Feet per Day (MMCFD) of Liquefied Natural Gas (LNG) for 15 year. Talking to
Published 10 Feb, 2016 12:00am
LNG deal to be signed today

LNG deal to be signed today

Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi has said that Pakistan on Wednesday (today) will sign a deal with Qatar for importing 400 Million Cubic Feet per Day (MMCFD) of Liquefied Natural Gas (LNG) for 15 year. Talking to
Published 10 Feb, 2016 12:00am
BRIndex30 sheds 120.3 points

BRIndex30 sheds 120.3 points

On Tuesday, BRIndex30 opened at 19,739.74 points and remained negative throughout the trading session. It touched an intraday high of 19,739.74 points and an intraday low of 19,602.14 points and closed at 19,619.44 points which was -120.3 points or -0.61
Published 10 Feb, 2016 12:00am
BRIndex30 sheds 120.3 points

BRIndex30 sheds 120.3 points

On Tuesday, BRIndex30 opened at 19,739.74 points and remained negative throughout the trading session. It touched an intraday high of 19,739.74 points and an intraday low of 19,602.14 points and closed at 19,619.44 points which was -120.3 points or -0.61
Published 10 Feb, 2016 12:00am
Stocks turn bearish

Stocks turn bearish

Stocks turned bearish Tuesday because of what equity analysts said pressure in select scrips. The KSE-100 index declined by 262 points or 0.80 percent to close at 32,444 points compared to Monday''s 32,706 points. Topline analysts said the index snapped i
Published 10 Feb, 2016 12:00am
Stocks turn bearish

Stocks turn bearish

Stocks turned bearish Tuesday because of what equity analysts said pressure in select scrips. The KSE-100 index declined by 262 points or 0.80 percent to close at 32,444 points compared to Monday's 32,706 points. Topline analysts said the index snapped it
Published 10 Feb, 2016 12:00am
Stocks turn bearish

Stocks turn bearish

Stocks turned bearish Tuesday because of what equity analysts said pressure in select scrips. The KSE-100 index declined by 262 points or 0.80 percent to close at 32,444 points compared to Monday's 32,706 points. Topline analysts said the index snapped it
Published 10 Feb, 2016 12:00am
GCC debt to double, assets to slide by 2020

GCC debt to double, assets to slide by 2020

Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance budget deficits due to sliding prices, a report said Tuesday. After having posted massive deficits of $160 billion last year and fa
Published 10 Feb, 2016 12:00am
GCC debt to double, assets to slide by 2020

GCC debt to double, assets to slide by 2020

Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance budget deficits due to sliding prices, a report said Tuesday. After having posted massive deficits of $160 billion last year and fa
Published 10 Feb, 2016 12:00am
GCC debt to double, assets to slide by 2020

GCC debt to double, assets to slide by 2020

Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance budget deficits due to sliding prices, a report said Tuesday. After having posted massive deficits of $160 billion last year and fa
Published 10 Feb, 2016 12:00am
Opec held responsible for supply glut

Opec held responsible for supply glut

Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, the IEA said Tuesday, noting Opec is responsible for the latest glut of supplies on the market. The International Energ
Published 10 Feb, 2016 12:00am
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