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May 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-17
Euro surges above $1.10 to six-month high in Europe

Euro surges above $1.10 to six-month high in Europe

The euro surged above $1.10 on Tuesday, climbing 0.8 percent to its highest since Donald Trump was elected US president in November, as the dollar weakened broadly on worries over his disclosure of information to Russian officials. Trump took to Twitter o
Published 17 May, 2017 12:00am
Early trade in NY: Euro surges to six-month high
Exchange

Early trade in NY: Euro surges to six-month high

The euro surged more than 1 percent against a broadly weaker dollar on Tuesday, rising above $1.10 to reach its highest since Donald Trump was elected US president in November. The dollar fell after the release of lower-than-expected data on US housing st
Published 17 May, 2017 12:00am
Dollar slips against number of currencies in NY

Dollar slips against number of currencies in NY

The dollar fell on Monday, touching lows against a number of currencies after a weak US manufacturing report added to a bounce in commodities prices that drove the greenback lower. The New York Federal Reserve's barometer on business activity in the state
Published 17 May, 2017 12:00am
Sri Lankan rupee down
Exchange

Sri Lankan rupee down

The Sri Lankan rupee ended weaker on Tuesday as importer dollar demand surpassed selling of the US currency by exporters, dealers said. Rupee forwards were active, with the spot-next or three-day forwards ending at 152.70/80 per dollar, compared with Mond
Published 17 May, 2017 12:00am
Most Asian currencies climb
Exchange

Most Asian currencies climb

Most Asian currencies climbed on Tuesday as the dollar came under pressure after a weak US manufacturing report trimmed expectations of a US rate increase next month, a key factor behind the dollar's gains in recent weeks. The New York Federal Reserve sai
Published 17 May, 2017 12:00am
Sterling hits 1-1/2 month low against resurgent euro

Sterling hits 1-1/2 month low against resurgent euro

Sterling sank to a 1-1/2 month low against a broadly stronger euro on Tuesday and steadied below $1.30, shrugging off a bout of selling into a bounce following strong UK inflation numbers. After data showed inflation rose more than expected to 2.7 percent
Published 17 May, 2017 12:00am
Aussie steadies, kiwi up

Aussie steadies, kiwi up

The Australian dollar held steady on Tuesday after minutes of the central bank's policy meeting reiterated views that interest rates will stay at record lows for the foreseeable future. The Aussie stood at $0.7412, off a more than one-week high of $0.7446
Published 17 May, 2017 12:00am
Manchester United predict record revenue

Manchester United predict record revenue

Manchester United predicted a record rise in annual revenue to between £560 million ($721.8 million, 652.4 million euros) and £570 million in their latest quarterly financial figures released on Tuesday. United had previously told investors to expect reve
Published 17 May, 2017 12:00am
Nadal can't fault Federer for skipping clay season

Nadal can't fault Federer for skipping clay season

Rafael Nadal believes the decision by Roger Federer to skip Roland Garros and the clay season is logical as the Spaniard on Tuesday prepared to start the Rome Masters. The world number four does not begrudge his Swiss rival for skipping the 2017 spring cl
Published 17 May, 2017 12:00am
Japanese player gets life ban for match-fixing

Japanese player gets life ban for match-fixing

Japanese player Junn Mitsuhashi has been banned for life following an investigation into match-fixing, the Tennis Integrity Unit (TIU) announced on Tuesday. He has also been fined $50,000 ($45,230 euros) after being found to have made corrupt approaches t
Published 17 May, 2017 12:00am
Sharapova denied French Open wildcard

Sharapova denied French Open wildcard

Twice former champion Maria Sharapova was surprisingly denied a wildcard into the French Open on Tuesday - ending intense speculation about her place in the claycourt slam since she returned from a 15-month doping ban. The 30-year-old Russian, who made he
Published 17 May, 2017 12:00am
Ben Johnson ad slammed for 'glorifying drug cheats'

Ben Johnson ad slammed for 'glorifying drug cheats'

A controversial commercial by an Australian sports betting company featuring disgraced sprinter Ben Johnson has been slammed by the government for glorifying drug cheats. The 90-second advert by gambling firm Sportsbet introduces Johnson, at a desk surrou
Published 17 May, 2017 12:00am
Indian women blast record 320 opening stand

Indian women blast record 320 opening stand

India openers Deepti Sharma and Poonam Raut put on a record one-day international 320-run partnership as their country routed Ireland. The mammoth stand was the best in women's cricket and surpassed the men's ODI record for an opening partnership of 286 b
Published 17 May, 2017 12:00am
2024 Olympic fight set to go to the wire

2024 Olympic fight set to go to the wire

The fight between Los Angeles and Paris to host the 2024 Summer Olympics is set to go the wire after the head of the IOC's inspection team heaped lavish praise on both cities. Patrick Baumann said neither city presented a risk, saying it came down to a ch
Published 17 May, 2017 12:00am
Chelsea celebrate title with 4-3 romp against Watford

Chelsea celebrate title with 4-3 romp against Watford

Departing captain John Terry led his Chelsea champions to a rip-roaring 4-3 victory over Watford on Monday, scoring the first goal on an evening of celebration, fireworks and streamers rather than vintage football at Stamford Bridge. Terry, who is leaving
Published 17 May, 2017 12:00am
Olympiakos charged over 'tunnel bust-up'

Olympiakos charged over 'tunnel bust-up'

Greek champions Olympiakos are in the dock over an alleged tunnel bust-up at half-time in a Super league match last month against Platanias. Olympiakos are charged by the Greek football federation's prosecutor of "violating a number of articles of the dis
Published 17 May, 2017 12:00am
Shama Club win KP Twenty20 Cup

Shama Club win KP Twenty20 Cup

Test cricketer Iftikhar steered Shama Club to 47 runs victory against Jans Brothers club in the Khyber Pakhtunkhwa Twenty20 Cricket Cup played at Arbab Niaz Cricket Stadium on Tuesday. Jans Brothers Club skipper won the toss and invited Shama Club to bat
Published 17 May, 2017 12:00am
Sher-e-Punjab Dangal to be held in July

Sher-e-Punjab Dangal to be held in July

Chairman Prime Minister's Task Force for promotion of indigenous sport, Muhammad Ijaz Gull on Tuesday said that efforts are being made for the revival and promotion of traditional sports and in this regard, a series of 'dangals' are being arranged in diff
Published 17 May, 2017 12:00am
ATP to trial new scoring system at Next Gen finals

ATP to trial new scoring system at Next Gen finals

The ATP's flagship season-ending tournament for top-ranked tennis players aged 21 or under will feature revolutionary new rules including short sets, shot clocks and no lets. Milan will host the inaugural Next Gen ATP Finals in November and the men's gove
Published 17 May, 2017 12:00am
North Korea link emerges in global cyberattacks

North Korea link emerges in global cyberattacks

Security researchers investigating the massive cyberattack campaign that sparked havoc in computer systems worldwide have reported signs of a possible North Korean link, but Europe's cross-border police agency said Tuesday it was "too early" to draw a con
Published 17 May, 2017 12:00am
Ivory Coast rebel troops end mutiny as deal inked

Ivory Coast rebel troops end mutiny as deal inked

Rebel soldiers in Ivory Coast on Tuesday agreed to end a four-day mutiny which drew in troops from across the country after reaching agreement with the government over a wages dispute. "Calm has returned," said Defence Minister Alain-Richard Donwahi. "The
Published 17 May, 2017 12:00am
Award-winning reporter shot dead in Mexico

Award-winning reporter shot dead in Mexico

Authorities in Mexico searched Tuesday for gunmen who fatally shot an award-winning journalist and Agence France-Presse contributor who reported on the country's violent drug gangs. Javier Valdez, 50, was shot in the street Monday near the premises of Rio
Published 17 May, 2017 12:00am
Austria snap elections set for October 15

Austria snap elections set for October 15

Austria's snap election will be on October 15, party chiefs agreed on Tuesday after the centrist "grand coalition" collapsed. The vote could see the far-right Freedom Party (FPOe), whose candidate narrowly failed to be elected president in December, enter
Published 17 May, 2017 12:00am
Afghan forces recapture key northern district

Afghan forces recapture key northern district

Afghan forces on Tuesday regained control of a strategic district close to the restive northern city of Kunduz that fell to the Taliban earlier this month, official said. The Taliban seized Qala-e-Zal in an assault that triggered fierce fighting with gove
Published 17 May, 2017 12:00am
Iran vice president pulls out of election, backs Rouhani

Iran vice president pulls out of election, backs Rouhani

Iran's reformist first vice president, Eshaq Jahangiri, on Tuesday pulled out of this week's presidential election and endorsed the incumbent, Hassan Rouhani, ISNA news agency reported. "I will vote for Mr Rouhani in the presidential election," Jahangiri
Published 17 May, 2017 12:00am
SpaceX launches Inmarsat communications satellite

SpaceX launches Inmarsat communications satellite

SpaceX on Monday launched a communications satellite for Inmarsat, marking its first launch for the London-based mobile broadband company. The Inmarsat-5 F4 satellite, built by Boeing, blasted off atop a Falcon 9 rocket from Cape Canaveral, Florida at 7:2
Published 17 May, 2017 12:00am
Duterte open to South China Sea deals

Duterte open to South China Sea deals

Philippine President Rodrigo Duterte said Tuesday he was open to exploring the South China Sea's natural resources with rival claimants China and Vietnam, after securing a "windfall" while in Beijing. Duterte also emphasised he had no immediate plans to p
Published 17 May, 2017 12:00am
IMF austerity has consequences for children's health

IMF austerity has consequences for children's health

Austerity policies imposed by the International Monetary Fund may harm parents' ability to care for their children's health, according to a study published Monday. The steep cuts in social spending the IMF often demands can curtail the availability of edu
Published 17 May, 2017 12:00am
IMF austerity has consequences for children's health

IMF austerity has consequences for children's health

Austerity policies imposed by the International Monetary Fund may harm parents' ability to care for their children's health, according to a study published Monday. The steep cuts in social spending the IMF often demands can curtail the availability of edu
Published 17 May, 2017 12:00am
Red Cross employees abducted in Mali freed

Red Cross employees abducted in Mali freed

Four Malian Red Cross employees, kidnapped Sunday in the country's restive centre, have been released, a local official told AFP. "The four Malian workers of the ICRC (International Committee of the Red Cross) were released Monday afternoon by their kidna
Published 17 May, 2017 12:00am
Open SESAME: science centre inaugurated in Jordan

Open SESAME: science centre inaugurated in Jordan

Jordan's King Abdullah II on Tuesday formally launched an international research centre whose members include experts from around the world including arch-rivals Iran and Israel. The International Centre for Synchrotron-Light for Experimental Science and
Published 17 May, 2017 12:00am
Four Japan military personnel die in plane crash

Four Japan military personnel die in plane crash

Four crew members aboard a crashed Japanese military plane were confirmed dead Tuesday, the defence ministry said. The wreckage was found on the northern island of Hokkaido, where the LR-2 reconnaissance craft disappeared from radar Monday near Hakodate a
Published 17 May, 2017 12:00am
Britain's Labour Party unveils 'radical' election manifesto

Britain's Labour Party unveils 'radical' election manifesto

British Labour leader Jeremy Corbyn on Tuesday unveiled a "radical and responsible" manifesto as the party hopes to close the gap against the ruling Conservatives before next month's election. Corbyn, who is flagging badly in the opinion polls, promised t
Published 17 May, 2017 12:00am
Four killed in Kenyan car bomb attack

Four killed in Kenyan car bomb attack

At least four people died on Tuesday when their vehicle set off an improvised explosive device in a small Kenyan town near the border with Somalia, police said. The blast was the second in two days to hit border towns after suspected Shabaab militants att
Published 17 May, 2017 12:00am
France fines Facebook for data protection breaches

France fines Facebook for data protection breaches

France's data protection agency said Tuesday it had fined Facebook for collecting information on users without their knowledge, following a probe of the social network in cooperation with other European regulators. The CNIL agency said it had slapped a pe
Published 17 May, 2017 12:00am
Ukraine blocks Russia's top social media networks

Ukraine blocks Russia's top social media networks

Ukraine on Tuesday blocked Russia's most popular social media networks and an internet search engine in response to the Kremlin's alleged backing of a three-year separatist war in the east. The decision sparked an immediate outcry from Ukrainian internet
Published 17 May, 2017 12:00am
At least 16 Maoist rebels killed in India

At least 16 Maoist rebels killed in India

At least 16 suspected Maoists have been killed in a firefight with security forces in central India, police said Tuesday, the same region where rebels massacred two dozens soldiers last month. The skirmish occurred near Bijapur district in central Chhatti
Published 17 May, 2017 12:00am
IS 'on brink of defeat' after losing 90 percent of west Mosul

IS 'on brink of defeat' after losing 90 percent of west Mosul

Iraqi forces have recaptured nearly 90 percent of west Mosul from the Islamic State group and jihadists in the city are on the "brink of total defeat", officers said Tuesday. Iraqi forces launched the massive operation to retake Mosul from IS nearly seven
Published 17 May, 2017 12:00am
Shanghai copper barely changed
Exchange

Shanghai copper barely changed

Shanghai Futures Exchange copper ended barely changed at 45,170 yuan ($6,555) a tonne on Tuesday as worries about China's slowing economic growth and tighter capital markets in the world's top metals consumer triggered selling in metals. ShFE zinc and Sha
Published 17 May, 2017 12:00am
Lead hits four-month low on worries over China growth outlook
Exchange

Lead hits four-month low on worries over China growth outlook

Lead hit a four-month low and zinc sank to its weakest in nearly a month on Tuesday as China's latest moves to curb shadow banking and risky investment dented the growth outlook in the world's top metals consumer. Late on Monday, China's banking regulator
Published 17 May, 2017 12:00am
Oil flat, watching for US inventory data, Opec news

Oil flat, watching for US inventory data, Opec news

Oil prices were little changed on Tuesday as the market awaited weekly US inventory figures and as Kuwait and other Opec members joined top producers Saudi Arabia and Russia in support of prolonging supply cuts through March 2018 to reduce a global crude
Published 17 May, 2017 12:00am
Rubber jumps
Exchange

Rubber jumps

Benchmark Tokyo rubber futures hit a five-week high on Tuesday, extending the rally into a sixth straight session, driven by stronger oil prices on expectations of extended supply cuts, as well as tight physical supplies at the TOCOM warehouses. The Tokyo
Published 17 May, 2017 12:00am
Palm oil inches up on weaker production data
Vegetable Oil

Palm oil inches up on weaker production data

Malaysian palm oil futures edged up a fraction on Tuesday as the market rebounded from earlier profit taking, driven by a drop in production figures. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 0.0
Published 17 May, 2017 12:00am
Cocoa prices turn lower as Ivory Coast uprising ends
Exchange

Cocoa prices turn lower as Ivory Coast uprising ends

Cocoa futures were lower on Tuesday as the leaders of a nationwide military mutiny in top producer Ivory Coast accepted a government deal and ended their revolt. July London cocoa settled down 12 pounds, or 0.8 percent, at 1,578 pounds per tonne after di
Published 17 May, 2017 12:00am
Gold rises in NY

Gold rises in NY

Gold rose as US political turmoil, a missile test by North Korea and a worldwide cyber attack fueled demand for safe-haven assets, while weaker than expected US data pushed the dollar lower, making gold cheaper for holders of other currencies. Spot gold w
Published 17 May, 2017 12:00am
Gold gains in Asia

Gold gains in Asia

Gold prices rose for a fourth day on Tuesday as the dollar slid on signs of slower economic activity in the United States that dented expectations of an aggressive string of interest rate hikes by the US Federal Reserve. The New York Federal Reserve bank
Published 17 May, 2017 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold prices extended gains for a fourth day on Tuesday as political troubles in the United States dented the dollar while a more upbeat scenario in Europe lifted the euro. "The dollar is weak today, which has helped precious metals across the board," said
Published 17 May, 2017 12:00am
Poor rains in Ivory Coast worry cocoa farmers

Poor rains in Ivory Coast worry cocoa farmers

Hot weather and insufficient rainfall last week in top grower Ivory Coast's eastern cocoa regions are feeding concerns of a poor April-to-September mid-crop harvest there, farmers said on Tuesday. In the eastern region of Abengourou, known for the high qu
Published 17 May, 2017 12:00am
Cotton settles limit down
Cotton

Cotton settles limit down

ICE cotton futures fell about 4 cents on Tuesday, halting three straight sessions of gains, on a technical sell-off and speculator liquidation after cotton hit near three-year highs on Monday. "The market was technically overbought and it was due to come
Published 17 May, 2017 12:00am
US MIDDAY: wheat drops

US MIDDAY: wheat drops

US wheat futures fell on Tuesday for the third straight session, hitting a three-week low on poor demand prospects amid a massive global stockpile, traders said. Corn also eased as investors digested a US Department of Agriculture report that showed farme
Published 17 May, 2017 12:00am
US MIDDAY: gold keeps climbing

US MIDDAY: gold keeps climbing

Gold prices extended gains for a fourth day early on Tuesday as political troubles and weaker-than-expected housing data in the United States dented the dollar while a more upbeat scenario in Europe lifted the euro. "The dollar is weak today, which has he
Published 17 May, 2017 12:00am
A test of our economic diplomacy

A test of our economic diplomacy

China Pakistan Economic Corridor is essential part of OBOR and serves as a showcase given best relations enjoyed by two countries. Funding of 62B$ is by far the highest for any single country (Malaysia being second with 35B$). China unveiled the ambitious
Published 17 May, 2017 12:00am
SECP approves certification for capital market advisers
Exchange

SECP approves certification for capital market advisers

In line with its objectives of promoting good governance practices, ensuring investor protection and having skilled investment advisers, the Securities and Exchange Commission of Pakistan (SECP) has prescribed certification requirement for all those provi
Published 17 May, 2017 12:00am
Prime Minister arrives in Hong Kong on three-day visit

Prime Minister arrives in Hong Kong on three-day visit

Prime Minister Nawaz Sharif has arrived in Hong Kong on a three-day official visit. During his stay in Hong Kong, he will address One Belt One Road Pakistan Investment Forum, which will be participated by leading business companies of Hong Kong and Mainla
Published 17 May, 2017 12:00am
Prime Minister arrives in Hong Kong on three-day visit

Prime Minister arrives in Hong Kong on three-day visit

Prime Minister Nawaz Sharif has arrived in Hong Kong on a three-day official visit. During his stay in Hong Kong, he will address One Belt One Road Pakistan Investment Forum, which will be participated by leading business companies of Hong Kong and Mainla
Published 17 May, 2017 12:00am
PAC dismayed over ERRA failure in verifying un-presented cheques

PAC dismayed over ERRA failure in verifying un-presented cheques

The Public Accounts Committee (PAC) on Tuesday expressed serious disappointment over the failure of Earthquake Reconstruction & Rehabilitation Authority (ERRA) in verifying un-presented cheques worth Rs 143.7 million from the banks since 2007-08. The subc
Published 17 May, 2017 12:00am
Murree Brewery Company Limited
Mutual Funds

Murree Brewery Company Limited

The Murree Brewery Company Limited was incorporated in February 1861 and that is now in Pakistan as a public limited company. Currently the oldest continuing enterprise in Pakistan, the brewery was established during the early colonial period to respond t
Published 17 May, 2017 12:00am
Murree Brewery Company Limited
Mutual Funds

Murree Brewery Company Limited

The Murree Brewery Company Limited was incorporated in February 1861 and that is now in Pakistan as a public limited company. Currently the oldest continuing enterprise in Pakistan, the brewery was established during the early colonial period to respond t
Published 17 May, 2017 12:00am
LHC seeks reply from government in Hafiz Saeed case

LHC seeks reply from government in Hafiz Saeed case

The Lahore High Court on Tuesday sought reply from the government till May 23 in a petition challenging detention of Jamatud Dawa (JuD) Chief Hafiz Muhammad Saeed and other leaders. Earlier, Additional Attorney General Naseer Ahmad Bhutta stated that a fe
Published 17 May, 2017 12:00am
PCMA plans to acquire Netherlands' expertise

PCMA plans to acquire Netherlands' expertise

Pakistan Chemical Manufacturers' Association (PCMA) has planned to acquire Netherlands expertise for improvement of chemical industry in Pakistan at par with international standards. The Country Head of Netherlands' Senior Experts Organisation "PUM" Frans
Published 17 May, 2017 12:00am
PPP to get 50 seats each from Sindh & other provinces: Zardari

PPP to get 50 seats each from Sindh & other provinces: Zardari

Asif Zardari has planned to secure 50 seats each from the Sindh and rest of the provinces in next general elections, said party sources. "Pakistan Peoples Party would be in a bargaining position even if it bags only 25 seats from the rest of the province
Published 17 May, 2017 12:00am
Jamaat leader says Lahore centre of Pakistan's politics

Jamaat leader says Lahore centre of Pakistan's politics

Secretary General, Jamaat-e-Islami, Liaqat Baloch, has said that Lahore was the centre of Pakistan's politics and a change in the city would inevitably bring a change in the national politics. While addressing the Marajul Bahrain Conference at Aiwan e Iqb
Published 17 May, 2017 12:00am
Supreme Court's attention drawn to strike by transporters

Supreme Court's attention drawn to strike by transporters

The Lahore Chamber of Commerce and Industry (LCCI) has urged the Supreme Court of Pakistan to take suo motu notice of the strike of goods transporters which is hitting the trade, industry and economy hard. LCCI Acting President Amjad Ali Jawa while addres
Published 17 May, 2017 12:00am
'Anti-beggary squad' to hunt down beggars during Ramazan

'Anti-beggary squad' to hunt down beggars during Ramazan

The Department of Social Welfare and Bait-ul-Maal (SW&BM) Punjab in collaboration with the provincial police department has constituted an 'anti-beggary squad' to keep the provincial capital clean from begging mafia during the holy month of Ramazan. The a
Published 17 May, 2017 12:00am
FBR agrees to settle audit cases by accepting 25 percent additional tax

FBR agrees to settle audit cases by accepting 25 percent additional tax

Federal Board of Revenue (FBR) has agreed to settle audit cases by accepting up to 25 percent additional tax against the corresponding fiscal from taxpayers, said sources. According to the sources, verbal instructions have been extended to the regional ta
Published 17 May, 2017 12:00am
Chinese authorities asked to assist agriculture sector under CPEC
Cotton

Chinese authorities asked to assist agriculture sector under CPEC

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Regional Chairman on Horticulture Exports Committee, Ahmad Jawad has said that China has done remarkable invention in their agriculture and in little time they become largest exporters of agri
Published 17 May, 2017 12:00am
19 died of chickenpox in Punjab this year

19 died of chickenpox in Punjab this year

As many as 1,591 cases of chickenpox have been reported in Punjab out of which the largest number of 821 cases reported in Faisalabad with 19 deaths during the current year.
Published 17 May, 2017 12:00am
Goods transporters' strike causes losses in billions
Exchange

Goods transporters' strike causes losses in billions

Goods transporters' strike has put billions of rupees export orders on stake. It would not only result in huge losses to the exporters, but also to the national exchequer. If the strike prolongs, this could engender cancellation of vital export orders.
Published 17 May, 2017 12:00am
NICL clarification

NICL clarification

Apropos a news item carried by Business Recorder on 15.05.17, we wish to clarify and state the following facts: "At the outset it is pertinent to mention that over twenty employees linked with corruption, fraud and embezzlement of funds in the past
Published 17 May, 2017 12:00am
With commodities' supply disrupted, inflation may rise before Ramazan

With commodities' supply disrupted, inflation may rise before Ramazan

Inflation may rise ahead of Ramazan, as supply of essential commodities to upcountry areas remain disrupted as transporter's strike entered its ninth day on Tuesday. The goods transporters' strike entered its ninth day on Tuesday amid fears of a total hal
Published 17 May, 2017 12:00am
SECP to ask companies to formulate 'whistleblower' policy
Exchange

SECP to ask companies to formulate 'whistleblower' policy

The Securities and Exchange Communion of Pakistan (SECP) will direct the boards of listed companies and public sector companies to formulate a 'whistle blowing' policy for all its employees to expose violations/contraventions committed in the companies. I
Published 17 May, 2017 12:00am
SC directs PIMS administrator to appear before probe body

SC directs PIMS administrator to appear before probe body

The Supreme Court on Tuesday directed the administrator of Pakistan Institute of Medical Sciences (PIMS) to appear before an inquiry committee and warned the case will be handed over to Federal Investigation Agency (FIA) if he fails to do so. A three-judg
Published 17 May, 2017 12:00am
'Torkham border will be part of CPEC'

'Torkham border will be part of CPEC'

Collector Customs Peshawar, Qurban Ali has said that the Pak Afghan Torkham border will be part of the China Pakistan Economic Corridor (CPEC). For that purpose, he added a well equipped modern customs terminal to be established with an estimated cost of
Published 17 May, 2017 12:00am
EU envoy opens two micro hydropower units in Chitral

EU envoy opens two micro hydropower units in Chitral

Ambassador of the European Union (EU) Jean-François Cautain, along with Provincial Sports Minister Mehmood Khan and Member of National Assembly Sahazada Iftikhar on Tuesday inaugurated two Micro Hydropower (MHP) units, built under the EU-funded PEACE prog
Published 17 May, 2017 12:00am
Budget to focus on achievement of six percent GDP growth: Dar

Budget to focus on achievement of six percent GDP growth: Dar

Federal Finance Minister Senator Ishaq Dar has said the development drive and the federal budget for the coming fiscal year would focus on generating six percent gross domestic product growth (GDP). In an interview with Japanese the Nikkei Asian Review, t
Published 17 May, 2017 12:00am
Shipping lines plan to impose congestion charges

Shipping lines plan to impose congestion charges

The principles of all shipping lines are planning to impose congestion charges on Pakistan-origin ad Pakistan-bound import and export cargo to offset losses due to transporters strike. All Pakistan Shipping Association (APSA) called an emergency meeting o
Published 17 May, 2017 12:00am
Exports come to a halt as transporters strike enters 9th day

Exports come to a halt as transporters strike enters 9th day

Pakistan's seaborne trade has completely ceased with ships starting leaving the country's seaports without carrying exports consignments as goods transporters strike entered the ninth day on Tuesday. Not a single consignment has been exported from Pakista
Published 17 May, 2017 12:00am
Teacher killed over old enmity

Teacher killed over old enmity

Armed men gunned down a school teacher over old enmity and fled from the scene of the crime here on Tuesday. Police said that armed men sprayed bullets at vehicle of a government teacher returning home after attending the school near Wagan area of Larkana
Published 17 May, 2017 12:00am
Four foreigners held for fake visa extension

Four foreigners held for fake visa extension

The Federal Investigation Agency's (FIA's) Immigration & Anti-Human Trafficking Cell (I&AHTC) arrested four foreigners with fake visa extension here on Tuesday. The I&AHTC of FIA during verification of visas of four foreigners leaving for abroad at Quaid-
Published 17 May, 2017 12:00am
Six dead as trailer hits rickshaw

Six dead as trailer hits rickshaw

At least six people died and eight others injured when an over-speeding trailer hit a qingqi rickshaw here on Tuesday. Rescue sources said that the accident took place at National Highway in Ghotki where a driver trailer hit a qingqi rickshaw. Six people
Published 17 May, 2017 12:00am
SHC orders tankers' move to Zulfiqarabad Oil Terminal

SHC orders tankers' move to Zulfiqarabad Oil Terminal

The Sindh High Court on Tuesday ordered to shift all oil tankers to the Zulfiqarabad Oil Terminal. The Sindh High Court (SHC) issued detailed order regarding ban on heavy traffic in the city. Issuing the order, the court ordered to all oil tankers to the
Published 17 May, 2017 12:00am
Rs 400 million sought for revamp of Sindh university infrastructure

Rs 400 million sought for revamp of Sindh university infrastructure

Sindh University Vice Chancellor Professor Dr Fateh Muhammad Burfat on Tuesday has demanded from the federal government of allocating Rs 400 million in the new fiscal year 2017-18 in order to revamp the 1960 infrastructure of the university into its lates
Published 17 May, 2017 12:00am
Saving the lost city of Mohenjodaro

Saving the lost city of Mohenjodaro

The centre of a powerful ancient civilisation, Mohenjo Daro was one of the world's earliest cities -- a Bronze Age metropolis boasting flush toilets and a water and waste system to rival many in modern Pakistan. Some 5,000 years on archaeologists believe
Published 17 May, 2017 12:00am
Construction industry: Abolishment of FTR creates negative impact: ABAD

Construction industry: Abolishment of FTR creates negative impact: ABAD

Association of Builders and Developers of Pakistan (ABAD) has expressed serious concerns over the reports regarding abolishment of Fixed Tax Regime (FTR) from builders and developers in coming budget 2017-18. Speaking to the media, Mohsin Sheikhani, Chair
Published 17 May, 2017 12:00am
Construction industry: Abolishment of FTR creates negative impact: ABAD

Construction industry: Abolishment of FTR creates negative impact: ABAD

Association of Builders and Developers of Pakistan (ABAD) has expressed serious concerns over the reports regarding abolishment of Fixed Tax Regime (FTR) from builders and developers in coming budget 2017-18. Speaking to the media, Mohsin Sheikhani, Chair
Published 17 May, 2017 12:00am
ATC orders Rangers DG to arrest Farooq, Amir

ATC orders Rangers DG to arrest Farooq, Amir

An anti-terrorism court (ATC) on Tuesday ordered Director General Rangers to arrest and present Muttahida Qaumi Movement (MQM)-Pakistan leader, Farooq Sattar and others in court till May 31. The court issued orders to DG Rangers to present MQM leaders Far
Published 17 May, 2017 12:00am
UAF, PUM sign MoU

UAF, PUM sign MoU

Institute of Horticulture Sciences, University of Agriculture Faisalabad, Netherland Senior Experts' organisation Programme Utizending Managers (PUM) and Greenworks Lahore on Tuesday inked a Memorandum of Understanding to collaborate in floriculture and g
Published 17 May, 2017 12:00am
PEF BoD again challenged in LHC

PEF BoD again challenged in LHC

Justice Muzammal Akhtar Shabbir of the Lahore High Court on Tuesday sought reply from the Punjab government and the Punjab Education Foundation in a petition challenging constitution of Board of Directors (BoD) of the Punjab Education Foundation. A lawyer
Published 17 May, 2017 12:00am
Bank Alfalah wins loyalty & rewards programme award

Bank Alfalah wins loyalty & rewards programme award

Pakistan's leading banking institution, Bank Alfalah has won the 'Best Loyalty and Rewards Program Award' for its Orbit Rewards Program at the 2017 Mastercard MENA Leadership Forum that took place in London, UK. Hosted by Mastercard, a leading technology
Published 17 May, 2017 12:00am
Government agrees to recommendations by PTBA

Government agrees to recommendations by PTBA

The federal government has agreed to the recommendations submitted by Pakistan Tax Bar Association for inclusion in the upcoming budget 2017-18. The agreement was reached in a meeting between a delegation of PTBA headed by its president Mohsin Nadeem with
Published 17 May, 2017 12:00am
Budget proposals: PCGA team assured of fair consideration
Cotton

Budget proposals: PCGA team assured of fair consideration

Haroon Akhtar Khan, Special Assistant to the Prime Minister for Revenue welcomed the proposals presented by Pakistan Cotton Ginners Association (PCGA) and agreed to have further discussions on them. He also assured that the Federal Board of Revenue will g
Published 17 May, 2017 12:00am
Budget proposals: PCGA team assured of fair consideration
Cotton

Budget proposals: PCGA team assured of fair consideration

Haroon Akhtar Khan, Special Assistant to the Prime Minister for Revenue welcomed the proposals presented by Pakistan Cotton Ginners Association (PCGA) and agreed to have further discussions on them. He also assured that the Federal Board of Revenue will g
Published 17 May, 2017 12:00am
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