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Print - 2016-05-05
PTI gathering: Prime Minister takes notice of mistreatment of women

PTI gathering: Prime Minister takes notice of mistreatment of women

Prime Minister Nawaz Sharif on Wednesday took notice of maltreatment of women at the public gathering of Pakistan Tehreek-e-Insaf in Lahore. The Prime Minister ordered immediate arrest of the persons involved in the act, a PM Office statement said.
Published 05 May, 2016 12:00am
Interior Secretary could face warrants for arrest, NA body warns

Interior Secretary could face warrants for arrest, NA body warns

National Assembly Standing Committee on Government Assurances has warned federal secretary interior that if he does not attend the next meeting of the Committee arrest warrants would be issued against him. The Committee met with Muhammad Afzal Khokhar in
Published 05 May, 2016 12:00am
Opple Lighting enters into business alliance with M&P

Opple Lighting enters into business alliance with M&P

Opple Lighting Pakistan entered into business collaboration with Muller and Phipps (M&P) on Tuesday to market and sells all types of LED as well as CFL lighting, all across Pakistan at affordable price rate. The ceremony was held in Karachi at local hotel
Published 05 May, 2016 12:00am
Steel sector: FBR to review GST, duty structure

Steel sector: FBR to review GST, duty structure

The Federal Board of Revenue (FBR) has decided to review sales tax/customs duty structure on steel sector and propose amendments to existing procedures and rules in consultation with the steel and ship breaking industries in the upcoming budget (2016-17).
Published 05 May, 2016 12:00am
Steel sector: FBR to review GST, duty structure

Steel sector: FBR to review GST, duty structure

The Federal Board of Revenue (FBR) has decided to review sales tax/customs duty structure on steel sector and propose amendments to existing procedures and rules in consultation with the steel and ship breaking industries in the upcoming budget (2016-17).
Published 05 May, 2016 12:00am
Panama leaks: Opposition parties working towards formulating strategy

Panama leaks: Opposition parties working towards formulating strategy

The combined opposition on Wednesday continued consultations to formulate a joint strategy over Panama leaks, insisting that accountability process should be started from the Prime Minister as the government's rejected the terms of references (ToRs) formu
Published 05 May, 2016 12:00am
PMS Officers' strike continues for second day

PMS Officers' strike continues for second day

All 700 Provincial Management Service (PMS) officers continued their strike throughout Khyber Pakhtunkhwa and Federally Administered Tribal Area (FATA) for second consecutive day. The protesting PMS Officers, worn black bands around their arms and observe
Published 05 May, 2016 12:00am
Ebad for induction of specialists into KIHD

Ebad for induction of specialists into KIHD

Governor Sindh, Dr Ishrat ul Ebad Khan has called for induction of specialists and cardiac surgeons on contract basis at the Karachi Institute of Heart Diseases (KIHD) here. He was speaking at a meeting regarding the problems of KIHD on Wednesday. In view
Published 05 May, 2016 12:00am
Persian language course concludes at ICUP

Persian language course concludes at ICUP

A six-week comprehensive Persian language learning course has concluded at the Islamia College University Peshawar (ICUP). A ceremony was arranged to award certificates to the participants of the course. Muhammad Baqir Begi, Consul General of Iran, Ali Yo
Published 05 May, 2016 12:00am
Assets of parliamentarians: JAP for making details public

Assets of parliamentarians: JAP for making details public

Chairman Judicial Activism Penal has approached the Lahore High Court seeking direction to election commission of Pakistan (ECP) for making public details of assets owned by all the parliamentarians.
Published 05 May, 2016 12:00am
Highest-ever hydel electricity generation recorded in April

Highest-ever hydel electricity generation recorded in April

Water and Power Development Authority (WAPDA) hydel power stations delivered as many as 2.314 billion units of low-cost hydel electricity to the National Grid in April 2016. This is the highest-ever generation of hydel electricity generated during the mon
Published 05 May, 2016 12:00am
Substandard vermicelli lands seven people in hospital

Substandard vermicelli lands seven people in hospital

At least seven people were landed in hospital after swallowing toxic vermicelli in Dera Ghazi Khan on Wednesday. According to details, the family members including a mother and six children living in Esan Goraha fell unconscious after eating vermicelli ma
Published 05 May, 2016 12:00am
LEAD nominates Dr Ishrat Hussain as BoG chairman

LEAD nominates Dr Ishrat Hussain as BoG chairman

The Board of Governors (BOG) of LEAD Pakistan has nominated the former governor of the State Bank of Pakistan (SBP), Dr Ishrat Hussain as its Chairman. Dr Adil Najam, former Chairman, BOG, LEAD Pakistan has passed the baton to Dr Ishrat Hussain to assume
Published 05 May, 2016 12:00am
TEVTA to train 2365 youth under YSDP Phase-III

TEVTA to train 2365 youth under YSDP Phase-III

In order to provide trained manpower to the industry locally and internationally and to reduce poverty, Technical Education and Vocational Training Authority (TEVTA) will train 2365 youth under Prime Minister's Youth Skill Development Programme (YSDP) Pha
Published 05 May, 2016 12:00am
KPFDAC to hold Fashion Week from May 27

KPFDAC to hold Fashion Week from May 27

Khyber Pakhtunkhwa Fashion Design and Arts Council (KPFDAC), has announced to organise a Fashion Week to promote the products of women entrepreneurs and rich Pakhtun culture and traditions. The announcement was made by KPFDAC Chairperson, Muhammad Waqas A
Published 05 May, 2016 12:00am
International Firefighters Day observed

International Firefighters Day observed

"International Firefighters Day-2016" was observed here on Wednesday like other parts of the world to recognize and honour the sacrifices that firefighters make to ensure that their communities and environment are as safe as possible. To mark the day, dif
Published 05 May, 2016 12:00am
Neelum Jhelum project: progress reviewed

Neelum Jhelum project: progress reviewed

China Gezhouba Group Company (CGGC) Vice President Chen Xiaohua called on the Pakistan Water and Power Development Authority (WAPDA) Chairman Zafar Mahmood on Wednesday. The CGGC is the contractor for the 969 MW-Neelum Jhelum Hydropower Project (NJHP). Du
Published 05 May, 2016 12:00am
CPEC projects: Gwadar port to become operational by end-December

CPEC projects: Gwadar port to become operational by end-December

Gwadar port would be operational by the end of December 2016 with the completion of 660 kilometer highway in Balochistan under the China-Pakistan Economic Corridor (CPEC) by Frontier Works Organisation while Indus highway would be used from DI Khan onward
Published 05 May, 2016 12:00am
Administrator appointed to take over, manage Modaraba company
Exchange

Administrator appointed to take over, manage Modaraba company

The Securities and Exchange Commission of Pakistan (SECP) has appointed an Administrator to take over and manage a Modaraba company in place of Map Out Management Company Pvt Limited (Map Out). It is learnt on Wednesday that the SECP Specialised Companies
Published 05 May, 2016 12:00am
Administrator appointed to take over, manage Modaraba company
Exchange

Administrator appointed to take over, manage Modaraba company

The Securities and Exchange Commission of Pakistan (SECP) has appointed an Administrator to take over and manage a Modaraba company in place of Map Out Management Company Pvt Limited (Map Out). It is learnt on Wednesday that the SECP Specialised Companies
Published 05 May, 2016 12:00am
EOBI properties: Element of criminality established, NA body told

EOBI properties: Element of criminality established, NA body told

Employees' Old-Age Benefits Institution (EOBI) on Wednesday admitted that the element of criminality has been established in all 18 properties purchased at exorbitant rate for a sum of Rs 34 billion in connivance with the sellers, who overcharged the inst
Published 05 May, 2016 12:00am
Customs reactivates Sher Garh checkpost

Customs reactivates Sher Garh checkpost

Collectorate of Customs, Peshawar reactivated anti-smuggling office, Mardan to tighten the noose around smuggled goods particularly non-duty paid vehicles. The office was inaugurated by Additional Collector, Syed Fazal Samad while Deputy Collector and Ant
Published 05 May, 2016 12:00am
Razak Bengali nominated chairman PGBC

Razak Bengali nominated chairman PGBC

Razak H.M. Bengali has been nominated as Chairman, Pakistan-Germany Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the year, 2016, by the President of FPCCI, Abdul Rauf Alam. He has been assigned the task of p
Published 05 May, 2016 12:00am
PIAF for withdrawal of EOBI notification

PIAF for withdrawal of EOBI notification

Pakistan Industrial and Traders Associations Front (PIAF) has asked for withdrawal of the Employees Old-Age Benefits Institution's notification for an increase in employers' and employees' share of contribution. The EOBI is creating harassment among the b
Published 05 May, 2016 12:00am
$1.4 billion borrowed from foreign banks so far
Currency

$1.4 billion borrowed from foreign banks so far

The government borrowing to date from commercial foreign based banks in the current financial year (2015-16) is $1.4 billion - seven times higher what was budgeted for the year at $200 million - with fresh borrowing of $408 million from Switzerland-based
Published 05 May, 2016 12:00am
Cotton futures down over two percent on profit-taking
Cotton

Cotton futures down over two percent on profit-taking

Cotton futures shed more than 2 percent on Tuesday to register their biggest one-day loss in over six weeks amid profit-taking on a stronger dollar. The funds that moved into corn, soybeans as well as cotton are now realising that they will take some prof
Published 05 May, 2016 12:00am
Shanghai copper slips
Exchange

Shanghai copper slips

Shanghai Futures Exchange copper slid 1.1 percent to 37,200 yuan ($5,725) a tonne on Wednesday as weak global manufacturing activity unsettled markets only recently soothed by signs of a possible pickup in China's economy. In other metals, aluminium gave
Published 05 May, 2016 12:00am
Copper falls on stronger dollar, weak manufacturing
Exchange

Copper falls on stronger dollar, weak manufacturing

Copper prices fell on Wednesday on a stronger dollar and as weak manufacturing data, particularly from top consumer China, highlighted poor demand prospects. Benchmark copper on the London Metal Exchange closed down 1.1 percent at $4,867 a tonne. A higher
Published 05 May, 2016 12:00am
The Weather

The Weather

The weather forecast is not being published as the Met Office did not update its Website on Wednesday.

Published 05 May, 2016 12:00am
Ivory Coast rains give further boost to cocoa mid-crop

Ivory Coast rains give further boost to cocoa mid-crop

Rains and sunshine in most of Ivory Coast's main cocoa regions will help to improve development of the April-to-September mid-crop, which has been battered by strong Harmattan winds and a fierce dry season, farmers said on Monday. The cocoa mid-crop marke
Published 05 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
Brazil government shift to hit commodities flow

Brazil government shift to hit commodities flow

Brazil should see significant changes in the amounts of commodities it exports and imports if Congress approves a request to impeach President Dilma Rousseff, consultancy and brokerage firm INTL FCStone said in a report on Wednesday. FCStone projected tha
Published 05 May, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
Raw sugar at 1-1/2-year top on poor crop prospects in India

Raw sugar at 1-1/2-year top on poor crop prospects in India

Raw sugar futures on ICE jumped to a 1-1/2-year high on Wednesday as poor crop prospects in India, the world's second-biggest producer, were only partially offset by the strong start to the harvest in top grower Brazil. Cocoa futures fell from technically
Published 05 May, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 04, 2016)

Published 05 May, 2016 12:00am
Gold turns lower in New York

Gold turns lower in New York

Gold turned lower on Tuesday, after nearing the prior session's 15-month top, as the US dollar moved higher and a Federal Reserve official pointed to the possibility of two interest rate hikes in 2016. Spot gold was down 0.4 percent at $1,285.69 an ounce
Published 05 May, 2016 12:00am
Gold down in Asia

Gold down in Asia

Gold fell for a second straight session on Wednesday, slipping further away from a 15-month high as the dollar steadied after recent sharp losses and as two Federal Reserve officials talked up US interest rate hikes this year. Spot gold had eased 0.4 perc
Published 05 May, 2016 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold steadied on Wednesday after soft private sector jobs data stoked expectations that Friday's US payrolls report will fall short of forecasts, dampening the prospect of a near-term hike in US interest rates and weighing on the dollar. Spot gold was at
Published 05 May, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
US MIDDAY: soya and wheat up

US MIDDAY: soya and wheat up

US wheat and soyabeans firmed on Wednesday, reversing overnight losses, on technical buying and a mild round of short-covering, traders said. Corn futures held steady, with buyers wary of pushing prices higher amid a swift pace of planting in the US Midwe
Published 05 May, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell 1 percent on Wednesday, falling further away from a 15-month high on pressure from the strong US dollar, which retreated from recent lows against the yen and euro as US trade and factory order data eased some worries. Spot gold was down 1 percen
Published 05 May, 2016 12:00am
Oil turns lower after bigger-than-forecast US crude build

Oil turns lower after bigger-than-forecast US crude build

A bigger-than-expected build in US crude inventories to fresh record highs pushed oil markets lower on Wednesday after an early rally over concerns about production cuts in Canada's oil sands region due to a wildfire. US crude stocks, which have been sett
Published 05 May, 2016 12:00am
Democracy in Iraq

Democracy in Iraq

This is apropos 'Protesters storm parliament in Iraq's Green Zone' carried by Business Recorder on Sunday. According to it, thousands of angry protesters broke into Baghdad's heavily fortified Green Zone on Saturday and stormed the Iraqi parliament
Published 05 May, 2016 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

The rupee managed to gain modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee is in strong position versus the dollar as there is no visible difference between the interbank and open market rates
Published 05 May, 2016 12:00am
Scots to blame the English if Britain votes to leave EU
Currency

Scots to blame the English if Britain votes to leave EU

Scotland is keener on staying in the EU than England, Wales or Northern Ireland, but London rejected its demand that a majority in all four nations must vote to leave for June's referendum to be valid. Scottish by inclination but Italian by birth, Claudio
Published 05 May, 2016 12:00am
THE RUPEE: all-round gains
Currency

THE RUPEE: all-round gains

The rupee managed to gain modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee is in strong position versus the dollar as there is no visible difference between the interbank and open market rates
Published 05 May, 2016 12:00am
Forces shaping the global businesses today
Exchange

Forces shaping the global businesses today

The global business environment today stands influenced by manifold forces and trends that tend to define the future directions and that how businesses are going to interact with their customers and respond to confronting competition. In an age of advance
Published 05 May, 2016 12:00am
VIEW POINT: Payback time for the rulers?

VIEW POINT: Payback time for the rulers?

Pretending that the Panama leaks scandal has nothing to do with him and the opposition is out to get him for no reason except power lust, Prime Minister Nawaz Sharif told a gathering in Quetta on Monday "investment comes to a halt in a country where sit-i
Published 05 May, 2016 12:00am
Fertiliser: Does it mean favouring farmers?

Fertiliser: Does it mean favouring farmers?

The government is often tempted to favour a particular group of producers for a variety of reasons and recover the cost of such a favour by burdening some other sector. According to a notification issued on 29th April, 2016 by Oil and Gas Regulatory Autho
Published 05 May, 2016 12:00am
ToRs are not sacred

ToRs are not sacred

Nine opposition parties took just two days to agree on terms of reference (ToRs) that would be on sent by a letter to the leader of the house, Prime Minister, Nawaz Sharif, by the leader of the opposition, Syed Khurshid Shah. This indicates a reaffirmatio
Published 05 May, 2016 12:00am
Launch of CASA-1000 power project on May 12

Launch of CASA-1000 power project on May 12

The leaders of four nations-Pakistan, Afghanistan and Kyrgyzstan will gather in Tajikistan to launch the construction of the much-awaited CASA-1000 power project on May 12, 2016. Addressing a press conference, Tajikistan Ambassador Sherali S. Jononov also
Published 05 May, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 04, 2016).

Published 05 May, 2016 12:00am
Launch of CASA-1000 power project on May 12

Launch of CASA-1000 power project on May 12

The leaders of four nations-Pakistan, Afghanistan and Kyrgyzstan will gather in Tajikistan to launch the construction of the much-awaited CASA-1000 power project on May 12, 2016. Addressing a press conference, Tajikistan Ambassador Sherali S. Jononov also
Published 05 May, 2016 12:00am
Launch of CASA-1000 power project on May 12

Launch of CASA-1000 power project on May 12

The leaders of four nations-Pakistan, Afghanistan and Kyrgyzstan will gather in Tajikistan to launch the construction of the much-awaited CASA-1000 power project on May 12, 2016. Addressing a press conference, Tajikistan Ambassador Sherali S. Jononov also
Published 05 May, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 05 May, 2016 12:00am
6500 megawatts deficit being managed through load management plan

6500 megawatts deficit being managed through load management plan

Ministry of Water and Power is facing deficit of around 6500MW electricity, which is being managed through a designed load management plan across the country with 6 hours in urban areas and 8-10 hours in rural areas whereas some areas are being supplied e
Published 05 May, 2016 12:00am
6500 megawatts deficit being managed through load management plan

6500 megawatts deficit being managed through load management plan

Ministry of Water and Power is facing deficit of around 6500MW electricity, which is being managed through a designed load management plan across the country with 6 hours in urban areas and 8-10 hours in rural areas whereas some areas are being supplied e
Published 05 May, 2016 12:00am
6500 megawatts deficit being managed through load management plan

6500 megawatts deficit being managed through load management plan

Ministry of Water and Power is facing deficit of around 6500MW electricity, which is being managed through a designed load management plan across the country with 6 hours in urban areas and 8-10 hours in rural areas whereas some areas are being supplied e
Published 05 May, 2016 12:00am
TDAP scandal: non-bailable arrest warrants for Gilani issued

TDAP scandal: non-bailable arrest warrants for Gilani issued

The anti-corruption court on Wednesday issued non-bailable arrest warrants for former Prime Minister Yusuf Raza Gilani among 10 other accused in Trade Development Authority of Pakistan (TDAP) scandal case. The anti-corruption court's judge Azeem was heari
Published 05 May, 2016 12:00am
TDAP scandal: non-bailable arrest warrants for Gilani issued

TDAP scandal: non-bailable arrest warrants for Gilani issued

The anti-corruption court on Wednesday issued non-bailable arrest warrants for former Prime Minister Yusuf Raza Gilani among 10 other accused in Trade Development Authority of Pakistan (TDAP) scandal case. The anti-corruption court's judge Azeem was heari
Published 05 May, 2016 12:00am
Pathankot attack: it's Indian intelligence failure: report

Pathankot attack: it's Indian intelligence failure: report

Pathan Kot Air Base in India was attacked by militants on January 2, 2016 which resulted 7 casualties of Indian security personnel while following the investigation, Indian Parliamentary Committee presented a report on Wednesday which stated that the very
Published 05 May, 2016 12:00am
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