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Print - 2019-11-12
Iran says new oil find adds only 22 billion barrels to reserves
Energy

Iran says new oil find adds only 22 billion barrels to reserves

Iran's oil minister said Monday that an oil field whose discovery President Hassan Rouhani announced at the weekend adds only 22.2 billion barrels to the country's estimated crude reserves. Out of the amount at the site, only a tenth - 2.2 billion barrels
Published 12 Nov, 2019 12:00am
Bombings kill six civilians in Syria's main Kurdish city

Bombings kill six civilians in Syria's main Kurdish city

Three simultaneous bombings killed at least six civilians Monday in the northeastern Syrian city of Qamishli, the latest attack to target the de-facto capital of the country's embattled Kurdish minority.
Published 12 Nov, 2019 12:00am
NA may hold voting on no-trust motion against Suri on Friday

NA may hold voting on no-trust motion against Suri on Friday

The National Assembly is likely to hold voting on the no-confidence motion submitted by Pakistan Muslim League-Nawaz (PML-N) against Deputy Speaker Qasim Suri on Friday (November 15). According to sources, the voting would presumably be held on Friday. It
Published 12 Nov, 2019 12:00am
Turkey begins deporting foreign jihadists

Turkey begins deporting foreign jihadists

Turkey deported three foreign jihadists on Monday, with more than 20 Europeans including French and Germans in the process of being expelled to their countries of origin. Turkey has criticised Western countries for refusing to repatriate their citizens wh
Published 12 Nov, 2019 12:00am
Two key ordinances laid before NA

Two key ordinances laid before NA

The treasury benches on Monday yet again laid two more ordinances - 'the Tax Laws (Amendment) Ordinance 2019' and 'the Code of Civil Procedure (Amendment) 2019' - before the National Assembly.
Published 12 Nov, 2019 12:00am
Construction sector to get special tax incentives

Construction sector to get special tax incentives

The government has decided to provide special tax relief and incentives to businesses/industries related to construction sector and support low-cost housing projects such as Naya Pakistan Housing Project (NPHP). It is learnt that Federal Board of Revenue
Published 12 Nov, 2019 12:00am
Job creation now government's top priority: Hafeez

Job creation now government's top priority: Hafeez

Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh has not ruled out any further increase in power tariff during the current fiscal year, stating that "electricity tariff would go up if gap between billed amount and collection and line losses inc
Published 12 Nov, 2019 12:00am
Modi's Hindu agenda barrels forward

Modi's Hindu agenda barrels forward

Just six months after sweeping to re-election, Indian Prime Minister Narendra Modi has delivered on two major promises of his party's Hindu agenda, electrifying his base but sowing unease among liberals and the nation's large Muslim minority.
Published 12 Nov, 2019 12:00am
Alibaba's Singles' Day sales hit $30bn

Alibaba's Singles' Day sales hit $30bn

Chinese retailer Alibaba Group Holding Ltd said on Monday that sales for its annual Singles' Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (0831 GMT), putting the event on track to set a record in its 11th year.
Published 12 Nov, 2019 12:00am
Contempt notice issued to minister

Contempt notice issued to minister

The Islamabad High Court (IHC) Monday issued contempt of court notice to Federal Minister for Aviation Ghulam Sarwar Khan for terming the release of former prime minister Nawaz Sharif as a result of a "deal" between the government and the Sharifs.
Published 12 Nov, 2019 12:00am
PM, too, concerned at NAB's 'undue' interference

PM, too, concerned at NAB's 'undue' interference

Prime Minister Imran Khan has asserted that major cause for a slowdown in public sector working was due to "undue" interference of National Accountability Bureau (NAB) in diverse matters.
Published 12 Nov, 2019 12:00am
Cabinet may allow Nawaz to go abroad

Cabinet may allow Nawaz to go abroad

The National Accountability Bureau (NAB) on Monday put the ball in Ministry of Interior's court to decide on the removal of former prime minister Nawaz Sharif's name from Exit Control List (ECL). According to a NAB official, the bureau has responded to a
Published 12 Nov, 2019 12:00am
Tablighi Ijtimaa notables meet COAS

Tablighi Ijtimaa notables meet COAS

Chief of Army Staff General Qamar Bajwa has expressed grief and sorrow for departed souls in the tragic Tezgam train fire incident.
Published 12 Nov, 2019 12:00am
BJP suffers setback as Maharashtra slips out of its control

BJP suffers setback as Maharashtra slips out of its control

In a setback, Indian Prime Minister Narendra Modi's ruling party has decided not to form the government in the western state of Maharashtra - the country's richest - leaving opposition groups scrambling on Monday to cobble together an alliance.
Published 12 Nov, 2019 12:00am
Unwarranted MoF rebuttal?
Letters

Unwarranted MoF rebuttal?

The ministry of finance has recently expended a lot of its energies on clarifying, contradicting, or rebutting an editorial carried by this newspaper. In other words, it has reacted very strongly to the newspaper comment that seems to have objectively ide
Updated 12 Nov, 2019 08:03am
A medley of concerns
Articles

A medley of concerns

Surveying the national and regional landscape yields a plethora of issues of concern with profound implications for the future. Let us take up the regional aspect first.
Updated 12 Nov, 2019 10:22am
IMF first programme review
Articles

IMF first programme review

The IMF has recently released a press note following the completion of the first Programme Review by the IMF Staff Mission in its visit to Pakistan. The good news is that the review was successfully completed and agreement was reached with the Authorities
Updated 12 Nov, 2019 08:39am
Bowing to the inevitable, at last

Bowing to the inevitable, at last

The protracted saga of Nawaz Sharif's illness has finally yielded a belated realisation on the part of the Pakistan Tehreek-i-Insaaf (PTI) government that his health really is critical. The slow waking up to this fact led to incremental arrangements for h
Updated 12 Nov, 2019 06:14am
Inflation as consequence of flawed policies

Inflation as consequence of flawed policies

Prime Minister Imran Khan, while chairing the parliamentary committee meeting on Thursday 7 November, including parliamentarians of allied parties, restated "stand by me on the inflation issue, I am monitoring it;" and proceeded to blame hoarders, read pr
Updated 12 Nov, 2019 06:14am
Chinese army's Deputy Commander meets COAS

Chinese army's Deputy Commander meets COAS

Deputy Commander of Chinese Army Lieutenant General You Haitao called on Army Chief General Qamar Javed Bajwa at General Headquarters on Monday. During the meeting matters of mutual interest and army-to-army staff talks were discussed.
Published 12 Nov, 2019 12:00am
Roshan Sindh project scam: another accused ready to become approver

Roshan Sindh project scam: another accused ready to become approver

The Accountability Court hearing the multibillion rupees fake bank accounts case was informed on Monday by National Accountability Bureau (NAB) that another accused of Roshan Sindh project scam has expressed his desire to become an approver against other
Published 12 Nov, 2019 12:00am
'Corruption cases have nothing to do with PTI government'

'Corruption cases have nothing to do with PTI government'

The treasury benches in the Senate on Monday denied that the government is on the mission of witch-hunting the opposition members, saying the corruption cases against the top leaders of Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP)
Published 12 Nov, 2019 12:00am
FBR constitutes consultative committees on restructuring
Taxes

FBR constitutes consultative committees on restructuring

Following the strong resistance showed by Inland Revenue Service (IRS) officers, the Federal Board of Revenue (FBR) has constituted consultative committees to address their concerns regarding "Restructuring of FBR".
Published 12 Nov, 2019 12:00am
PASCO begins wheat supply to Sindh: minister

PASCO begins wheat supply to Sindh: minister

Sindh Minister for Food Hari Raam Kishori Lal has said that the Pakistan Agriculture and Storage Corporation (PASCO) have started supply to Sindh Food Department through its Khairpur and Noshehro Feroz facilities.
Published 12 Nov, 2019 12:00am
Non-payment of refunds block huge working capital: TMAP
Cotton & Textile

Non-payment of refunds block huge working capital: TMAP

Towel Manufactures' Association of Pakistan has expressed deep concern over the deteriorating economic situation with special reference to exports which are going down day by day.
Updated 12 Nov, 2019 07:18am
Parthenium hazardous for humans, livestock: experts
Commodities

Parthenium hazardous for humans, livestock: experts

Experts have cautioned that Parthenium, a toxic and invasive weed, can emerge as most hazardous for human and livestock as it causes allergy, asthma and other disease and put a huge impact on the quality of livestock milk and meat.
Published 12 Nov, 2019 12:00am
Ex-Fata region: Tribesmen concerned at delay in provision of package

Ex-Fata region: Tribesmen concerned at delay in provision of package

Tribesmen have voiced concern over delay in provision of Rs100 billion uplift packages for erstwhile Federal Administered Tribal Areas and asked the government to materialize its commitment to bring the merged districts at par with other parts of the coun
Published 12 Nov, 2019 12:00am
HEC launches roadshow for awareness of R&D framework

HEC launches roadshow for awareness of R&D framework

The Higher Education Commission (HEC) has launched a road show to spread awareness among faculty members and researchers about the newly developed Research and Development (R&D) Framework.
Published 12 Nov, 2019 12:00am
Kaira's petition: LHC seeks reply from IGP Prisons

Kaira's petition: LHC seeks reply from IGP Prisons

The Lahore High Court (LHC) on Monday sought reply from Inspector General of Punjab Prisons on a petition of PPP Punjab President Qamar Zaman Kaira challenging undeclared ban on meeting with former president Asif Ali Zardari in Adiala Jail.
Published 12 Nov, 2019 12:00am
PBIF chief voices concern over cut in NSS profit
Business & Economy

PBIF chief voices concern over cut in NSS profit

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, has expressed concern over reduction in profit of National Saving Schemes will hit poor pensioners and widows who are finding it extremely difficult to live under merciless
Published 12 Nov, 2019 12:00am
Fazl asks followers to be prepared for 'plan-B'

Fazl asks followers to be prepared for 'plan-B'

Jamiat Ulema-e-Islam-Fazl (JUI-F) Emir Maulana Fazlur Rehman on Monday indicated to continue the 'struggle' till ouster of the Pakistan Tehreek-e-Insaf (PTI) government and asked his followers to be prepared for the 'plan-B' to be announced after consulta
Published 12 Nov, 2019 12:00am
Gold price up by Rs 150

Gold price up by Rs 150

Gold on Monday was traded for Rs 86,700 per tola with an increase of Rs 150, according to traders. The yellow metal was selling for Rs74,331 per 10 grams up by Rs 128 on the local market. The precious metal price on the global market was quoted $1465 an o
Published 12 Nov, 2019 12:00am
Builders meet PM's aide
Business & Economy

Builders meet PM's aide

Builders operating in different housing societies of the federal capital called on Special Assistant to Prime Minister on CDA Affairs Ali Nawaz Awan here at CDA headquarters on Monday and apprised him of the issues being faced by them pertaining to layout
Published 12 Nov, 2019 12:00am
FBR reform process: STOAP urges government to take it on board
Taxes

FBR reform process: STOAP urges government to take it on board

Sales tax Officers Association of Pakistan (STOAP) Monday urged the Adviser to the Prime Minister on Finance Hafeez Shaikh to bring it into the loop in the ongoing restructuring plan of the Federal Board of Revenue (FBR) to transform it into Pakistan Reve
Updated 12 Nov, 2019 07:12am
Seminar on Pakistan Customs Strategic Plan (2019-2024) held
Taxes

Seminar on Pakistan Customs Strategic Plan (2019-2024) held

Model Customs Collectorate (MCC) Islamabad in collaboration with the Directorate General Training & Research (Customs), Regional Office Islamabad here on Monday organized a seminar on the Pakistan Customs Strategic Plan (2019-2024).
Updated 12 Nov, 2019 07:12am
COTTON REVIEW: prices decrease by Rs200 per maund
Cotton & Textile

COTTON REVIEW: prices decrease by Rs200 per maund

The prices of cotton decreased by Rs 200 per maund. 60 lac bales will be imported due to the unprecedented decrease in the production of cotton. Import duty on cotton should be abolished. All Pakistan Textile Mills Association (APTMA) demanded that govern
Updated 12 Nov, 2019 07:12am
Bank of AJK holds first business review conference
Money & Banking

Bank of AJK holds first business review conference

Bank of Azad Jammu and Kashmir organised its first Business Review conference of year 2019. The conference was participated by all Branch Managers, Zonal Chiefs, Regional Controllers and Divisional Heads. The meeting was presided over by President/CEO of
Updated 12 Nov, 2019 07:21am
TIKA donates color ultrasound facility to JPMC

TIKA donates color ultrasound facility to JPMC

TIKA-Turkish Cooperation and Coordination Agency has donated 5 state of the art Color Doppler Machines -"Color Ultrasound Facility" to Patients' Aid Foundation for the department of Radiology at Jinnah Postgraduate Medical Center (JMPC.
Published 12 Nov, 2019 12:00am
National symposium on Medical Physics held at Ziauddin University

National symposium on Medical Physics held at Ziauddin University

"When you think about physics you must always go back into the history. If you go back 3,000 years BC, the concept of energy came from the Egyptian history. From astronomy to philosophy and to emergence over centuries towards physics, which we recall as a
Published 12 Nov, 2019 12:00am
Jazz selects IBM cloud & analytics solutions
Telecommunication

Jazz selects IBM cloud & analytics solutions

Jazz, Pakistan's leading mobile operator and digital communications company, has selected IBM Cloud and Analytics Solutions as key components of its digital transformation. IBM will build a private cloud environment at Jazz's data centre to deliver IBM An
Published 12 Nov, 2019 12:00am
Wheat sowing campaign begins
Commodities

Wheat sowing campaign begins

Wheat is being cultivated on a total of 19.5 million acres in Punjab province with an increase of 200,000 acres, estimated to produce 100 million tonnes, more than 2 million tonnes from last year.
Published 12 Nov, 2019 12:00am
Growers urge government to plan paddy straw management
Commodities

Growers urge government to plan paddy straw management

Growers have urged the government to come up with a comprehensive plan for disposal of paddy straw rather than just banning the burning of rice stubbles under section 144 in the bid to tackle the menace of environment pollution, especially smog.
Published 12 Nov, 2019 12:00am
Bilawal to launch mass contact campaign in Punjab

Bilawal to launch mass contact campaign in Punjab

Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto said on Monday that he would soon launch mass contact campaign in Punjab and the provincial leadership of the party should make necessary arrangements in this respect.
Published 12 Nov, 2019 12:00am
Pakistan advocating love and peace: Alvi

Pakistan advocating love and peace: Alvi

President Dr Arif Alvi said on Monday that Pakistan was advocating love and peace as wars were not the solution of issues which should be resolved through dialogues.
Published 12 Nov, 2019 12:00am
PMEX posts highest ever profit for FY19

PMEX posts highest ever profit for FY19

Pakistan Mercantile Exchange Limited (PMEX), the country's only multi-commodity futures exchange, has posted the highest-ever profit after tax for the financial year ended June 30, 2019 (FY19), since commencement of its operations in 2007.
Published 12 Nov, 2019 12:00am
Fertilizer manufacturers' profit falls by 31pc for 3Q
Commodities

Fertilizer manufacturers' profit falls by 31pc for 3Q

Profit of fertilizer manufacturers of Pakistan has declined by 31% YoY to Rs 8.6 billion for 3Q 2019, primarily due to decrease in gross profit margins, increase in administrative expense up by 33% YoY, and spike in finance cost by 110% YoY.
Published 12 Nov, 2019 12:00am
Buzdar for following teachings of Holy Prophet (PBUH)

Buzdar for following teachings of Holy Prophet (PBUH)

Punjab Chief Minister Sardar Usman Buzdar has stressed the need of making a commitment to leading our lives in accordance with the teachings of Holy Prophet (PBUH) and following the principles laid down by the City-state of Madina to wriggle the country o
Published 12 Nov, 2019 12:00am
FOAP resolves to abide by NHSO 2000
Business & Economy

FOAP resolves to abide by NHSO 2000

The meeting of the representatives of the Fleet Operators Association of Pakistan (FOAP), United Goods Transport Alliance Pakistan, Karachi Goods Carrier Association and All Pakistan Goods Transport Owners Association on November 6, 2019 have jointly reso
Published 12 Nov, 2019 12:00am
Policy on EV yet to be cleared by ECC
Business & Economy

Policy on EV yet to be cleared by ECC

The National Electric Vehicles Policy is yet to be cleared by the Economic Coordination Committee (ECC) of the Cabinet and inter-ministerial committee; well-informed sources told Business Recorder . The federal cabinet recently cleared the concept
Published 12 Nov, 2019 12:00am
Cabinet Division: Shakoor made Parliamentary Secretary

Cabinet Division: Shakoor made Parliamentary Secretary

Prime Minister Imran Khan has appointed Abdul Shakoor Shad (MNA) as Parliamentary Secretary for Cabinet Division with immediate effect. In this regard, the Cabinet Division has issued a notification, here on Monday. Abdul Shakoor Shad, a PTI MNA from NA-2
Published 12 Nov, 2019 12:00am
Cabinet to appoint Arif as Member Gas today
Energy

Cabinet to appoint Arif as Member Gas today

The federal cabinet which is scheduled to meet on Tuesday (today) will appoint Muhammad Arif as Member Gas, Oil and Gas Regulatory Authority (OGRA), well-informed sources told Business Recorder. The Cabinet Division, sources said, has sent a panel
Updated 12 Nov, 2019 07:12am
Europe gives go ahead to market Ebola vaccine

Europe gives go ahead to market Ebola vaccine

The European Union authorised the marketing of a vaccine against Ebola on Monday, permitting the first wider commercial use of a protection that has helped stem an outbreak in DR Congo.
Published 12 Nov, 2019 12:00am
Trump says Baghdadi successor in US crosshairs

Trump says Baghdadi successor in US crosshairs

US President Donald Trump placed the Islamic State group's new chief in the crosshairs Monday as he marked Veterans' Day by celebrating the killing of the jihadists' former leader Abu Bakr al-Baghdadi.
Published 12 Nov, 2019 12:00am
Farage withdraws Brexit threat to PM Johnson

Farage withdraws Brexit threat to PM Johnson

Populist Brexit Party leader Nigel Farage on Monday withdrew his threat to challenge the governing Conservatives at every seat in next month's general election, in a boost for Prime Minister Boris Johnson.
Published 12 Nov, 2019 12:00am
Egypt opens jail after UN report on inmate Morsi's death

Egypt opens jail after UN report on inmate Morsi's death

Egyptian authorities Monday opened up Tora prison in Cairo for a media tour, following a UN report on the "brutal" conditions in which jailed ex-president Mohamed Morsi was held before his death.
Updated 12 Nov, 2019 06:37am
Strong French earthquake injures four

Strong French earthquake injures four

An unusually strong earthquake hit southeastern France on Monday, injuring four people, one of them seriously, authorities said.
Updated 12 Nov, 2019 06:45am
Power vacuum in Bolivia after Morales resigns

Power vacuum in Bolivia after Morales resigns

Bolivia's Evo Morales called Monday on the opposition that ousted him to "pacify the country" after his shock resignation following weeks of protests over his disputed re-election left a power vacuum.
Updated 12 Nov, 2019 07:22am
World Bank scales back Uighur school project in China

World Bank scales back Uighur school project in China

The World Bank announced Monday it was cutting back a vocational education project in China's Xinjiang province, even though an internal investigation did not back up claims the scheme was linked to the mistreatment of minority Muslim Uighurs.
Updated 12 Nov, 2019 06:45am
China accuses US of using UN to 'meddle' in Tibet

China accuses US of using UN to 'meddle' in Tibet

China accused the US on Monday of using the United Nations to "meddle" in Tibet, as Washington intensifies its bid to prevent Beijing from handpicking the Dalai Lama's successor.
Updated 12 Nov, 2019 06:55am
Forint slips
Money & Banking

Forint slips

The Hungarian forint eased to its lowest point in nearly five weeks against the euro on Monday, continuing a week-long slide along with other central European currencies as global concerns reduce the market's appetite for riskier assets.
Updated 12 Nov, 2019 07:52am
Euro near four-week low against dollar in Europe
Money & Banking

Euro near four-week low against dollar in Europe

The euro held steady against the US dollar on Monday after matching a four-week low earlier as the greenback maintained its gains on optimism that the United States and China would roll back tariffs that have hurt global growth.
Updated 12 Nov, 2019 07:48am
Chile's peso leads Latam FX lower
Money & Banking

Chile's peso leads Latam FX lower

Chile's peso slumped on Monday and currencies in Brazil and Mexico were mixed as a clutch of political crises and uncertainty over a US-China trade deal dulled sentiment.
Updated 12 Nov, 2019 07:48am
Thailand relaxes FX rules
Money & Banking

Thailand relaxes FX rules

Thailand's central bank on Wednesday announced a further relaxation of foreign exchange rules in a bid to curb the strengthening of the baht, Asia's top performing currency this year.
Updated 12 Nov, 2019 07:49am
Sterling jumps against euro, dollar
Money & Banking

Sterling jumps against euro, dollar

The pound jumped on Monday, hitting a six-month high versus the euro and posted its biggest daily rise in nearly a month against the greenback after the Brexit Party said it would not contest previously Conservative held seats in the UK's election.
Updated 12 Nov, 2019 07:49am
Silkbank begins first-ever Interclub Polo Championship
Other

Silkbank begins first-ever Interclub Polo Championship

Silkbank in collaboration with Lahore Polo & Country Club conduct press conference at Qutb al-Din Aibak's tomb to kick off its first-ever Interclub Polo Championship happening at LPCC. The idea is to revive the memory of Sultan Qutb al-Din Aibak and his l
Published 12 Nov, 2019 12:00am
Asia Building System win Aquafina Polo Cup
Other

Asia Building System win Aquafina Polo Cup

Asia Building System outpaced Total Nutrition by 7-4 to win the Aquafina Polo Cup 2019, which was played here at Lahore Polo Club (LPC) ground. Saad Munawwar Khan, Marketing Director, Beverages- PepsiCo, graced the final as chief guest while Ather Shakeel
Published 12 Nov, 2019 12:00am
Bahria Golf City Islamabad organises Ambassadors Golf Club
Other

Bahria Golf City Islamabad organises Ambassadors Golf Club

Bahria Gold City Islamabad organized the 2019 Ambassador Golf Club tournament on November 10, 2019. Chairman Bahria Town Malik Riaz Hussain sponsored the inaugural tournament of Ambassadors Golf Club, held at Pines Golf Club, Bahria Golf City Islamabad.
Published 12 Nov, 2019 12:00am
Japan's machinery orders fall
Global Business Economy

Japan's machinery orders fall

Japan's machinery orders fell for a third straight month in September, raising doubts that business spending will be strong enough to offset external pressures, which have clouded the outlook for the export-reliant economy.
Updated 12 Nov, 2019 06:59am