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Print - 2016-04-06
US ambassador meets Punjab governor

US ambassador meets Punjab governor

The American ambassador met the Punjab governor on Tuesday to discuss matters of mutual interest. Governor Rafique Rajwana met his guest, David Hale, who grieved the deaths in last week's park bombing, saying, "The Pakistani people are facing terrorism wi
Published 06 Apr, 2016 12:00am
Power load shedding to end by March 2018: Abid

Power load shedding to end by March 2018: Abid

State Minister for Water and Power Abid Sher Ali has said that PML-N government is committed to eliminate load shedding of electricity by March 2018 and in this connection it was working simultaneously on power generation and laying new transmission lines
Published 06 Apr, 2016 12:00am
Provision of tech education to women: Punjab Assembly passes resolution

Provision of tech education to women: Punjab Assembly passes resolution

Punjab Assembly in its 20th session here on Tuesday passed a resolution in which it was put forth that government should take measures to provide technical education to women. The session on Private Members Day was chaired by Speaker Rana Muhammad Iqbal.
Published 06 Apr, 2016 12:00am
Cement industry records in March highest-ever dispatches

Cement industry records in March highest-ever dispatches

Cement industry has recorded its highest ever dispatches of 3.584 million tons during March 2016 on the strength of healthy growth in domestic consumption and turnaround in exports, enabling it to utilise more than 90 percent of installed capacity during
Published 06 Apr, 2016 12:00am
Wisconsin up for grabs as Trump, Clinton seek upsets

Wisconsin up for grabs as Trump, Clinton seek upsets

Voters in the Midwestern state of Wisconsin cast their ballots Tuesday in the US presidential primaries, with Donald Trump and Hillary Clinton cast as underdogs hoping to pull off surprise come-from-behind wins. The stakes are highest for Trump, whose lon
Published 06 Apr, 2016 12:00am
Wheat procurement campaign: Shahbaz reviews arrangements

Wheat procurement campaign: Shahbaz reviews arrangements

Punjab Chief Minister, Muhammad Shahbaz Sharif presided over a high level meeting regarding Wheat Procurement Campaign 2016-17. The meeting reviewed in detail the arrangements made for providing maximum facilities to the farmers at wheat procurement cente
Published 06 Apr, 2016 12:00am
DG NAB to deliver lecture

DG NAB to deliver lecture

Director General NAB, Ms Aliya Rashid will deliver lecture to the participants of orientation course for newly inducted employees being conducted in National Institute of Fire Technology at H-11, Police Lines Opp, National Police Academy, Islamabad at 11
Published 06 Apr, 2016 12:00am
Janjua urges world to shun discriminatory policy towards Pakistan

Janjua urges world to shun discriminatory policy towards Pakistan

Prime Minister's Adviser on National Security Lieutenant General Nasir Khan Janjua (Retd) Tuesday urged the world to shun policy of discrimination towards Pakistan and take steps to ensure strategic stability in South Asia, threatened by India's massive d
Published 06 Apr, 2016 12:00am
Liquor factory sealed, three held in Charsadda

Liquor factory sealed, three held in Charsadda

The police sealed an illegal liquor factory and arrested three culprits besides recovering hundreds of litres of liquor. The City Police raided a factory involved in illegal manufacturing of liquor in Sardaryab area of district Charssada. The police recov
Published 06 Apr, 2016 12:00am
Panama Papers: PTI to submit adjournment motion in NA

Panama Papers: PTI to submit adjournment motion in NA

Pakistan Tehreek-e-Insaf is going to submit an adjournment motion in the National Assembly today to discuss Panama leaks; involving Prime Minister Nawaz Sharif's family. PTI chairman Imran Khan will also attend the National Assembly session starting from
Published 06 Apr, 2016 12:00am
Sambrial Bar President joins PML-Q

Sambrial Bar President joins PML-Q

Sambrial Bar Association President Chaudhry Azhar Nadeem Cheema advocate along with his supporters called on Pakistan Muslim League-Q (PML-Q) senior central leader and former Deputy Prime Minister Chaudhry Parvez Elahi at his residence here on Tuesday and
Published 06 Apr, 2016 12:00am
Power sector: 'Punjab government encouraging investment'

Power sector: 'Punjab government encouraging investment'

The Punjab government is encouraging foreign companies, including Chinese, to cooperate and tackle the country's energy crisis and enhance industrial and economic bond by creating job opportunities in the power sector. The announcement by Provincial Minis
Published 06 Apr, 2016 12:00am
Recoveries improve: power sector collection soars to 93.1 percent

Recoveries improve: power sector collection soars to 93.1 percent

The country's power sector collection has reached 93.1 per cent from 90.7 per cent due to consistent efforts of the Ministry of Water and Power. According to the documents, actual collection of Discos during first quarter of current fiscal year was 86.9 p
Published 06 Apr, 2016 12:00am
NIM team visits LCCI

NIM team visits LCCI

A 26-member delegation of National Institute of Management (NIM) on Tuesday visited Lahore Chamber of Commerce and Industry (LCCI) to seek private sector's point of view on current economic scenario. The delegation, led by Ayesha Makhdoom, Director Nation
Published 06 Apr, 2016 12:00am
NHA establishes emergency response centers

NHA establishes emergency response centers

NHA Establish Emergency Response Centers along National Highways. Rs 23 Billion Allocated for Maintenance of Roads this year. Stakeholder Consultation Meeting on Annual Maintenance Plan 2015-16. The Stakeholders Consultation Meeting on Annual Road Mainten
Published 06 Apr, 2016 12:00am
Federal Board TVET Policy Minister briefed about progress

Federal Board TVET Policy Minister briefed about progress

Minister of State Baligh Ur Rehman chaired a meeting regarding the progress report of Federal Board TVET and National TVET Policy on Tuesday. Minister was informed about the progress regarding Federal Board TVET Policy. Consultation process with the stake
Published 06 Apr, 2016 12:00am
CAREC University will be 'university of the future': Ahsan

CAREC University will be 'university of the future': Ahsan

Federal Minister for Planning, Development & Reform Ahsan Iqbal today stated, "Central Asian Regional Economic Cooperation (CAREC) University will be "university of the future" by incorporating world's best academic models with top faculty recruited throu
Published 06 Apr, 2016 12:00am
ICE cotton eases from four-week high
Cotton

ICE cotton eases from four-week high

Cotton futures settled down in thin trade on Monday, after earlier reaching a four-week high, weighed down by declines across commodities markets. "There is just no follow-through after a rally on Friday and the rest of the markets were down," said Jobe M
Published 06 Apr, 2016 12:00am
US court fines UAE men for manipulating gold, silver futures
Exchange

US court fines UAE men for manipulating gold, silver futures

A federal court in New York fined two United Arab Emirates residents more than $2.6 million to settle charges of "spoofing" in the gold and silver futures markets and permanently banned them from trading, the Commodity Futures Trading Commission said on T
Published 06 Apr, 2016 12:00am
Shanghai copper drops
Exchange

Shanghai copper drops

The most-traded copper contract on the Shanghai Futures Exchange dropped as much as 1.4 percent to a one-month low of 36,500 yuan a tonne on Tuesday. It closed the day down 0.7 percent at 36,730 yuan. "Over the past week, copper prices have converged with
Published 06 Apr, 2016 12:00am
Copper bounces, zinc extends losses
Exchange

Copper bounces, zinc extends losses

Copper bounced from a one-month low while zinc and other metals extended losses on Tuesday on uncertainty over the economic recovery in China, the world's biggest raw materials consumer. Chinese shares rose to their highest in nearly three months, helped
Published 06 Apr, 2016 12:00am
Rubber rises
Exchange

Rubber rises

Benchmark Tokyo rubber futures rose to a two-week high on Tuesday as concerns that a crop-damaging El Nino weather pattern may crimp output offset selling pressure due to sliding oil prices and the yen's jump to a 17-month high. Tokyo Commodity Exchange (
Published 06 Apr, 2016 12:00am
Soyabeans retreat from August peak, corn mixed

Soyabeans retreat from August peak, corn mixed

US soyabean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week's government forecast for lower-than-expected plantings. Corn prices ended mixed as traders digested the
Published 06 Apr, 2016 12:00am
Palm oil loses gains
Vegetable Oil

Palm oil loses gains

Malaysian palm oil futures reversed earlier gains to fall in evening trade on Tuesday as the market took profits in anticipation of higher than expected end-stocks. Official palm oil data for March from the Malaysian Palm Oil Board (MPOB) will be announce
Published 06 Apr, 2016 12:00am
Arabica coffee at four-week low
Currency

Arabica coffee at four-week low

Arabica coffee futures on ICE fell to a four-week low on Tuesday, dropping for the third straight session on fund and chart-based selling, and pressure from the weak currency in top grower Brazil. Raw sugar futures were flat, consolidating after a three-d
Published 06 Apr, 2016 12:00am
Gold falls in New York

Gold falls in New York

Gold fell on Monday after strong US economic data boosted investor risk sentiment and a top US Federal Reserve official said an interest rate hike is likely to take place ahead of the market's current expectations due to fading economic concerns. Spot gol
Published 06 Apr, 2016 12:00am
Gold jumps in Asia

Gold jumps in Asia

Gold jumped 1 percent on Tuesday following a two-day decline, as Asian stocks slid on weak oil prices and mixed views on the outlook for Federal Reserve monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan lost over 1 percent, while
Published 06 Apr, 2016 12:00am
Gold rebounds in European trade

Gold rebounds in European trade

Gold rebounded more than 1 percent on Tuesday, snapping two days of losses as risk appetite evaporated, pushing European stocks down 1.7 percent and knocking the dollar to a 17-month low against the yen. That helped to reverse a two-day drop in gold that
Published 06 Apr, 2016 12:00am
US MIDDAY: soya slips

US MIDDAY: soya slips

US soyabean futures on Tuesday extended a setback from the nearly eight-month highs reached a day earlier, as wet weather fuelled projections that farmers will plant more fields with the oilseed than previously expected. Rainy, cool conditions in the sout
Published 06 Apr, 2016 12:00am
US MIDDAY: gold snaps two-day decline

US MIDDAY: gold snaps two-day decline

Gold rebounded more than 1 percent early on Tuesday, snapping two days of losses as risk appetite evaporated, pushing global stocks lower and knocking the dollar to a 17-month low against the yen. That helped to reverse a two-day drop in gold that had sen
Published 06 Apr, 2016 12:00am
Oil edges up after Kuwait talks up output freeze plan

Oil edges up after Kuwait talks up output freeze plan

Oil prices edged higher on Tuesday after Kuwait's insistence that major producers will agree to freeze output this month even as Iran balks at the plan. Gains in crude prices were limited as traders awaited US industry data later in the afternoon that was
Published 06 Apr, 2016 12:00am
'Anti-terrorist operations in Punjab'

'Anti-terrorist operations in Punjab'

This is apropos Business Recorder op-ed "Anti-terrorist operations in Punjab" carried by the newspaper on Thursday. The writer has drawn a profound conclusion: "Meanwhile, one cannot but lament the fact that our political class' failure to effectiv
Published 06 Apr, 2016 12:00am
White House race offers rare cable news ratings surge

White House race offers rare cable news ratings surge

The 2016 White House race is generating record audiences for cable news networks - thanks in large part to controversial Republican frontrunner Donald Trump, who has dominated the media's election coverage. But will the increased viewership, which comes a
Published 06 Apr, 2016 12:00am
STPF 2015-2018: policy or platitude?
Exchange

STPF 2015-2018: policy or platitude?

You really can't find much fault with the Strategic Trade Policy Framework (STPF) 2015-2018, baptised nine months after its due date. You don't find much good either. No 'oomph' to make the exporters take the next flight out to seduce the buyers with. It
Published 06 Apr, 2016 12:00am
Budgeting for war on terror

Budgeting for war on terror

By end June this year the Zarb-e-Azb would have completed two full fiscal years since it was launched in mid-June, 2014. Notwithstanding its resounding successes in the last 22 months or so, the existential threat that the nation faces appears not to have
Published 06 Apr, 2016 12:00am
The Weather

The Weather

The weather report on Tuesday (April 05, 2016) and the forecast for Wednesday (April 06, 2016).

Published 06 Apr, 2016 12:00am
Impasse over Punjab operation

Impasse over Punjab operation

For a meeting as crucial as the one the prime minister had with the Army chief on Monday the statement issued by the Prime Minister's Office was rather bland and sketchy. "Prime Minister Nawaz Sharif presided over a high-level meeting on security. Matters
Published 06 Apr, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
A 4.5 percent growth rate looks realistic?
Exchange

A 4.5 percent growth rate looks realistic?

The Asian Development Bank (ADB) has projected 4.5 percent growth rate for the Pakistan economy for the current fiscal year in its annual publication titled Asian Development Outlook. This downgrade in the growth rate from the budgeted 5.5 percent echoes,
Published 06 Apr, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
Ministry comes under fire for export decline, other issues
Exchange

Ministry comes under fire for export decline, other issues

Senate Standing Committee on Commerce on Tuesday grilled Commerce Ministry for the worst performance in exports, discriminative policy in trade officers'' selection and not taking the committee on board in negotiations on trade pacts with other countries.
Published 06 Apr, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (April 05, 2016)

Published 06 Apr, 2016 12:00am
Ministry comes under fire for export decline, other issues
Exchange

Ministry comes under fire for export decline, other issues

Senate Standing Committee on Commerce on Tuesday grilled Commerce Ministry for the worst performance in exports, discriminative policy in trade officers' selection and not taking the committee on board in negotiations on trade pacts with other countries.
Published 06 Apr, 2016 12:00am
Ministry comes under fire for export decline, other issues
Exchange

Ministry comes under fire for export decline, other issues

Senate Standing Committee on Commerce on Tuesday grilled Commerce Ministry for the worst performance in exports, discriminative policy in trade officers' selection and not taking the committee on board in negotiations on trade pacts with other countries.
Published 06 Apr, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
PPP leader Asif Hashmi arrested in Dubai

PPP leader Asif Hashmi arrested in Dubai

Pakistan People's party leader Syed Asif Hashmi was arrested by Dubai police on Tuesday afternoon. Dubai police has handed over Hashmi to Interpol. Hashmi has been a proclaimed offender of the FIA in the DHA-ETPB land deal case for over a year; he fled th
Published 06 Apr, 2016 12:00am
PPP leader Asif Hashmi arrested in Dubai

PPP leader Asif Hashmi arrested in Dubai

Pakistan People's party leader Syed Asif Hashmi was arrested by Dubai police on Tuesday afternoon. Dubai police has handed over Hashmi to Interpol. Hashmi has been a proclaimed offender of the FIA in the DHA-ETPB land deal case for over a year; he fled th
Published 06 Apr, 2016 12:00am
Important meeting on PIA sell-off

Important meeting on PIA sell-off

An important meeting of a parliamentary panel to discuss the privatisation of Pakistan International Airlines (PIA) will be held here to address the reservations of the opposition before presenting it before a joint sitting of parliament for passage on Ap
Published 06 Apr, 2016 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

All-round gains were witnessed on the money market on Tuesday as the rupee managed to look ahead versus the dollar and euro in the process of trading, dealers said. The rupee appreciated by three paisas versus the dollar for buying and selling at Rs 104.6
Published 06 Apr, 2016 12:00am
Important meeting on PIA sell-off

Important meeting on PIA sell-off

An important meeting of a parliamentary panel to discuss the privatisation of Pakistan International Airlines (PIA) will be held here to address the reservations of the opposition before presenting it before a joint sitting of parliament for passage on Ap
Published 06 Apr, 2016 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

All-round gains were witnessed on the money market on Tuesday as the rupee managed to look ahead versus the dollar and euro in the process of trading, dealers said. The rupee appreciated by three paisas versus the dollar for buying and selling at Rs 104.6
Published 06 Apr, 2016 12:00am
Important meeting on PIA sell-off

Important meeting on PIA sell-off

An important meeting of a parliamentary panel to discuss the privatisation of Pakistan International Airlines (PIA) will be held here to address the reservations of the opposition before presenting it before a joint sitting of parliament for passage on Ap
Published 06 Apr, 2016 12:00am
KPEC files corruption reference against auditor

KPEC files corruption reference against auditor

Khyber Pakhtunkhawa Ehtesab Commission has filed a reference against Umar Hayat, son of Musafar Khan, senior Auditor, District Account Office Shangla on charges of corruption and accumulating huge moveable and immovable assets, which is disproportionate t
Published 06 Apr, 2016 12:00am
KPEC files corruption reference against auditor

KPEC files corruption reference against auditor

Khyber Pakhtunkhawa Ehtesab Commission has filed a reference against Umar Hayat, son of Musafar Khan, senior Auditor, District Account Office Shangla on charges of corruption and accumulating huge moveable and immovable assets, which is disproportionate t
Published 06 Apr, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (April 05, 2016).

Published 06 Apr, 2016 12:00am
CNIC mandatory for dividend payment: SECP
Exchange

CNIC mandatory for dividend payment: SECP

The Securities and Exchange Commission of Pakistan (SECP) has allowed companies to withhold all future dividends of such shareholders who have not provided their CNIC numbers to companies to be written on the dividend warrants. However, the companies will
Published 06 Apr, 2016 12:00am
CNIC mandatory for dividend payment: SECP
Exchange

CNIC mandatory for dividend payment: SECP

The Securities and Exchange Commission of Pakistan (SECP) has allowed companies to withhold all future dividends of such shareholders who have not provided their CNIC numbers to companies to be written on the dividend warrants. However, the companies will
Published 06 Apr, 2016 12:00am
CNIC mandatory for dividend payment: SECP
Exchange

CNIC mandatory for dividend payment: SECP

The Securities and Exchange Commission of Pakistan (SECP) has allowed companies to withhold all future dividends of such shareholders who have not provided their CNIC numbers to companies to be written on the dividend warrants. However, the companies will
Published 06 Apr, 2016 12:00am
Transfer of remittances via PRISM: SBP extends deadline till July 31

Transfer of remittances via PRISM: SBP extends deadline till July 31

The State Bank of Pakistan (SBP) Tuesday extended the deadline for implementation on Inter-Bank Transfer of Home Remittances via Pakistan Real-time Interbank Settlement Mechanism (PRISM) MT 102, for three months. In order to ensure timely interbank domest
Published 06 Apr, 2016 12:00am
Transfer of remittances via PRISM: SBP extends deadline till July 31

Transfer of remittances via PRISM: SBP extends deadline till July 31

The State Bank of Pakistan (SBP) Tuesday extended the deadline for implementation on Inter-Bank Transfer of Home Remittances via Pakistan Real-time Interbank Settlement Mechanism (PRISM) MT 102, for three months. In order to ensure timely interbank domest
Published 06 Apr, 2016 12:00am
Transfer of remittances via PRISM: SBP extends deadline till July 31

Transfer of remittances via PRISM: SBP extends deadline till July 31

The State Bank of Pakistan (SBP) Tuesday extended the deadline for implementation on Inter-Bank Transfer of Home Remittances via Pakistan Real-time Interbank Settlement Mechanism (PRISM) MT 102, for three months. In order to ensure timely interbank domest
Published 06 Apr, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 Apr, 2016 12:00am
Sarfraz Ahmed appointed new T20 captain

Sarfraz Ahmed appointed new T20 captain

Pakistan's Cricket Board Tuesday announced Sarfraz Ahmed as new captain of the T20 team after Shahid Afridi stepped down following his side's humiliating early exit from the World Twenty20. A statement on the PCB website described Ahmed - who led the Quet
Published 06 Apr, 2016 12:00am
Sarfraz Ahmed appointed new T20 captain

Sarfraz Ahmed appointed new T20 captain

Pakistan's Cricket Board Tuesday announced Sarfraz Ahmed as new captain of the T20 team after Shahid Afridi stepped down following his side's humiliating early exit from the World Twenty20. A statement on the PCB website described Ahmed - who led the Quet
Published 06 Apr, 2016 12:00am
War crimes judges drop charges in Kenya Ruto case

War crimes judges drop charges in Kenya Ruto case

War crimes judges on Tuesday dropped charges of crimes against humanity against Kenya's Deputy President William Ruto over his alleged role in 2007-2008 post-election turmoil, but left open the possibility of a fresh trial. In what will be a fresh blow to
Published 06 Apr, 2016 12:00am
Argentina opposition attack president on Panama Papers

Argentina opposition attack president on Panama Papers

Argentine President Mauricio Macri's opponents attacked him Tuesday over his involvement in two offshore companies after his name appeared in the so-called Panama Papers leaks. A lawmaker from the Left Front party introduced a bill in the lower house of C
Published 06 Apr, 2016 12:00am
Bankers 'driven by money' in 'rigging' Libor
Libor

Bankers 'driven by money' in 'rigging' Libor

Five former bankers who worked for Barclays were "driven by money" when they conspired to fix the Libor lending rate, prosecutors told a London court as their trial opened Tuesday. "This is a fraud case," prosecutor James Hines told the jury at Southwark
Published 06 Apr, 2016 12:00am
Three arrested in Spain over bomb hoax that forced plane back to airport

Three arrested in Spain over bomb hoax that forced plane back to airport

Spanish police said Tuesday they have arrested three people on suspicion of making a bomb hoax that caused a plane to return to Madrid airport escorted by an air force fighter jet. Spanish airport operator AENA on December 14 ordered a Brazilian TAM airli
Published 06 Apr, 2016 12:00am
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