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Print - 2019-12-07
Three dead in building collapse in Kenyan capital

Three dead in building collapse in Kenyan capital

Three people died Friday and many more were feared trapped after a residential building collapsed in the Kenyan capital Nairobi, sparking a panicked search for survivors beneath the rubble.
Published 07 Dec, 2019 12:00am
Team of allied parties from Sindh meets PM

Team of allied parties from Sindh meets PM

Prime Minister Imran Khan Friday said the progress and prosperity of the people of Sindh was amongst top priorities of the government and all possible steps would be taken in that regard.
Published 07 Dec, 2019 12:00am
£190 million to be spent on social welfare, govt tells SC

£190 million to be spent on social welfare, govt tells SC

Special Assistant to Prime Minister on Accountab-ility Shahzad Akbar Friday said that £190 million, which has been received due to a settlement reached between real estate tycoon's family and the United Kingdom's National Crime Agency (NCA), will be used
Published 07 Dec, 2019 12:00am
$1 billion approved by ADB for budget support

$1 billion approved by ADB for budget support

The Asian Development Bank (ADB) has approved $1.3 billion for Pakistan including $1 billion emergency budget support to shore up the country's public finances and $300 million to address financial sustainability, governance and energy infrastructure poli
Published 07 Dec, 2019 12:00am
11-paisa/unit increase in tariff of Discos notified

11-paisa/unit increase in tariff of Discos notified

Power Division has notified 11 paisa per unit increase in tariff of power Distribution Companies (Discos) on account of periodic adjustments for 1st quarter of FY 2019-20 as determined and recommended by National Electricity Power Regulatory Authority (NE
Published 07 Dec, 2019 12:00am
Saudi, Russia push through deeper new oil cuts

Saudi, Russia push through deeper new oil cuts

Saudi Arabia and Russia spearheaded a deal on Friday in which OPEC and its allies committed to some of the deepest oil output cuts this decade aiming to avert oversupply and support prices.
Published 07 Dec, 2019 12:00am
SHC allows sugar transit to Afghanistan

SHC allows sugar transit to Afghanistan

Sindh High Court (SHC) Friday allowed the safe transit of 262 containers of sugar, detained at port on the pretext of being unfit for human consumption, to Afghanistan in accordance with the relevant laws.
Published 07 Dec, 2019 12:00am
Former Justice Altaf Ibrahim takes oath as acting CEC

Former Justice Altaf Ibrahim takes oath as acting CEC

Former Justice Altaf Ibrahim Qureshi, a sitting member of the Election Commission of Pakistan (ECP), on Friday took oath as acting chief election commissioner following the retirement of his predecessor former Justice Sardar Muhammad Raza a day earlier, b
Published 07 Dec, 2019 12:00am
China imposes reciprocal restrictions on US diplomats

China imposes reciprocal restrictions on US diplomats

China on Friday said it had taken "reciprocal" measures against US diplomats in the country, ordering them to notify the foreign ministry before meeting with local officials. Foreign ministry spokeswoman Hua Chunying said China had notified the US embassy
Published 07 Dec, 2019 12:00am
Textile exporters perturbed by partial payment of refunds

Textile exporters perturbed by partial payment of refunds

Textile exporters have expressed concern over deferment of some payment against sales tax refund claims under the Fully Automated Sales Tax e-Refund System (FASTER) without providing any substantive reason.
Published 07 Dec, 2019 12:00am
TV umpire to call no-balls in cricket first

TV umpire to call no-balls in cricket first

Cricket is to trial using a TV umpire instead of the on-field official to call no-balls in the series between India and West Indies, following a rash of mistakes.
Published 07 Dec, 2019 12:00am
Past Nazi crimes part of our identity: Merkel

Past Nazi crimes part of our identity: Merkel

Angela Merkel visited the former Auschwitz Nazi death camp on Friday for the first time as chancellor and said admitting Nazi crimes was a key part of Germany's identity that could combat growing anti-Semitism.
Published 07 Dec, 2019 12:00am
Tax Year 2019: FBR receives 1.7m returns till 6th

Tax Year 2019: FBR receives 1.7m returns till 6th

Federal Board of Revenue (FBR) has so far received 1.7 million income tax returns (till December 6) for Tax Year 2019 as compared to 1.2 million returns during the same period of the Tax Tear 2018, reflecting an increase of 0.5 million returns.
Published 07 Dec, 2019 12:00am
Edhi Foundation: Sindh CM seeks release of Rs 180 million refunds

Edhi Foundation: Sindh CM seeks release of Rs 180 million refunds

The Federal Board of Revenue (FBR) has been withholding tax refunds of world's largest ambulance service and social welfare icon 'Abdul Sattar Edhi Foundation' (ASEF) since FY 2016-17, creating difficulties for ASEF to continue welfare works.
Published 07 Dec, 2019 12:00am
Info under income tax law: Banks withdraw petitions from SHC

Info under income tax law: Banks withdraw petitions from SHC

Banks have withdrawn their petitions from Sindh High Court (SHC) on the issue of providing information under Sections 165 and 165A (furnishing of information by banks) of the Income Tax Ordinance 2001 after settlement of issues with the Federal Board of R
Published 07 Dec, 2019 12:00am
Post-arrest bail to Maryam: NAB challenges LHC verdict

Post-arrest bail to Maryam: NAB challenges LHC verdict

National Accountability Bureau (NAB) has challenged the Lahore High Court (LHC) verdict to grant post-arrest bail to Pakistan Muslim League-Nawaz Vice-President Maryam Nawaz in Chaudhry Sugar Mills Limited (CSML) case.
Published 07 Dec, 2019 12:00am
Pakistan Railways
Letters

Pakistan Railways

This is apropos a Business Recorder op-ed "A regulatory framework for Pakistan Railways - I" carried by the newspaper yesterday. The writer, Dr Omer Javed, has articulated a highly professional or technical perspective with a view to bringing about
Published 07 Dec, 2019 12:00am
Neo
Articles

Neo

Imaginative, eye catching, column titles are good for business; but seriously those of you expecting a discussion on the Matrix trilogy, come on give me a break, this is a business publication!
Published 07 Dec, 2019 12:00am
Arbitration challenge
Articles

Arbitration challenge

How does Pakistan perform in international courts of justice? The answer is: it doesn't perform well. At least two cases strongly reflect successive Pakistani governments' approach to global litigation.
Published 07 Dec, 2019 12:00am
In-house change

In-house change

Former chief minister Punjab Shahbaz Sharif, who is in London these days looking after his ill brother Nawaz Sharif, held a press conference on December 4, 2019 in which he backed the idea of an 'in-house change' to remove Prime Minister (PM) Imran Khan.
Updated 07 Dec, 2019 06:38am
Ease of doing business

Ease of doing business

During the inaugural session of the 22nd Sustainable Development Conference co-hosted by the Sustainable Development Policy Institute and the World Bank, Dr Ishrat Husain, Advisor to the Prime Minister for Institutional Reforms and Austerity, stated that
Updated 07 Dec, 2019 06:40am
Qureshi hails US's decision of resuming talks with Taliban

Qureshi hails US's decision of resuming talks with Taliban

Foreign Minister Shah Mahmood Qureshi on Friday welcomed the Untied States' decision of resumption of the stalled peace process with the Taliban and assured Pakistan's reconciliatory role for peace in the war-torn Afghanistan.
Published 07 Dec, 2019 12:00am
Hassan Syed appointed adviser to S&T minister

Hassan Syed appointed adviser to S&T minister

Federal Minister for Science and Technology, Fawad Chaudhry has appointed Hassan Syed, innovation and emerging technologies expert, as advisor to the minister.
Published 07 Dec, 2019 12:00am
Fake accounts case: AC issues ex-SBCA chief's warrant of arrest

Fake accounts case: AC issues ex-SBCA chief's warrant of arrest

The Accountability Court hearing the multibillion rupees fake bank accounts case on Friday issued arrest warrant of Manzoor Qadir alias Kaka, former executive director of Sindh Building Control Authority and a close aide to former president Asif Ali Zarda
Published 07 Dec, 2019 12:00am
IHC summons CDA chairman on December 13

IHC summons CDA chairman on December 13

The Islamabad High Court (IHC) on Friday summoned chairman Capital Development Authority (CDA) on December 13 in a case related to allowing a private housing society, allegedly of senior leader of Pakistan Tehreek-e-Insaf (PTI) Aleem Khan, to use a piece
Published 07 Dec, 2019 12:00am
Youth-led projects showcased at student leaders moot

Youth-led projects showcased at student leaders moot

Over 2100 students of 12 universities of Punjab and Khyber Pakhtunkhwa including universities from Bannu, Karak, Lakki Marwat, Swat, Malakand, DI Khan, Sargodha, Gujranwala, Lahore, directly benefited from 60 youth-led social action projects, organized by
Published 07 Dec, 2019 12:00am
Lack of quorum results in NA session's adjournment

Lack of quorum results in NA session's adjournment

The National Assembly session was adjourned on Friday after short proceedings due to lack of quorum as the opposition staged a walkout from the House in protest for not allowing it to speak on the issue of production orders of its imprisoned members.
Published 07 Dec, 2019 12:00am
PKMA attributes rising smuggling to huge taxation

PKMA attributes rising smuggling to huge taxation

Chairman of Pakistan Kiryana Merchants Association (PKMA), Haji Nadeem-ur-Rehman has expressed concern over negative impact of regulatory duties and huge taxation which has led to a huge increase in smuggling and causing heavy financial losses for the imp
Published 07 Dec, 2019 12:00am
Condolence

Condolence

Hameed Haroon, President of the All Pakistan Newspapers Society has expressed profound grief on behalf of APNS office-bearers and members of the Executive Committee over the sad demise of mother of Sarmad Ali, Secretary General, APNS.
Published 07 Dec, 2019 12:00am
PU announces result of Senate's polls

PU announces result of Senate's polls

Punjab University has announced result of Senate's elections on the six seats of principals of affiliated colleges and five seats of registered graduates.
Published 07 Dec, 2019 12:00am
SCCI chief to contest for FPCCI's top slot
Business & Economy

SCCI chief to contest for FPCCI's top slot

The President Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Ashraf Malik has said that Dr. Nouman Idris Butt is fit for representing the Export Based Industry of Sialkot in the most enlightened manner and his nomination would serve the purpose
Published 07 Dec, 2019 12:00am
Police directed to increase patrolling around LHC

Police directed to increase patrolling around LHC

Newly-appointed Deputy Inspector General of Police (Operations) Rai Babar Saeed has directed the Dolphin Squad and Police Response Unit (PRU) teams to increase patrolling around the premises of the Lahore High Court (LHC) so that security of visitors coul
Published 07 Dec, 2019 12:00am
LHC sets aside death penalty of man who killed daughter

LHC sets aside death penalty of man who killed daughter

The Lahore High Court (LHC) on Friday set aside death penalty of a man who had killed his daughter for not making round bread. A sessions' court had awarded death sentence to Khalid Mahmood and also imposed a fine of rupees five lac. Khalid Mahmood had al
Published 07 Dec, 2019 12:00am
Opposition's dream of in-house change will never come true: Sarwar

Opposition's dream of in-house change will never come true: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar has said that opposition's dream of in-house change will remain mere a dream. "Opposition should show patience and wait for next general election till year 2023. For the first time in Pakistan, supremacy of the law
Published 07 Dec, 2019 12:00am
Price hike: PML-N to hold protest tomorrow

Price hike: PML-N to hold protest tomorrow

Expressing concern over rising inflation, Pakistan Muslim League-Nawaz (PML-N) has announced to hold countrywide protest on December 8 (Sunday) against escalating price hike.
Published 07 Dec, 2019 12:00am
Farmers asked to remove weeds from standing crops

Farmers asked to remove weeds from standing crops

The Met Office has asked the farmers to step up efforts to remove weeds from the standing crops to help scale up production, besides urging them for planning irrigation plans. It said that the weeds removal is 'very important' since they utilise moisture
Published 07 Dec, 2019 12:00am
Student unions need of the hour: Saeed Ghani

Student unions need of the hour: Saeed Ghani

Sindh Minister for Information, Archives and Labor Saeed Ghani while addressing as chief guest at the swearing-in ceremony of the newly-elected members of Student Council at Sindh Madressahtul Islam University on Friday said that the concept of student co
Published 07 Dec, 2019 12:00am
PharmEvo bags global award for anaemia breakthrough

PharmEvo bags global award for anaemia breakthrough

A locally-invented iron supplement by a Pakistani pharmaceutical firm has clinched an international award at the 6th Annual Global Generics and Biosimilars 2019 ceremony in Frankfurt, Germany after it was declared as the best intervention to overcome iron
Published 07 Dec, 2019 12:00am
Sindh CM urged to introduce Sehat Insaf Sahulat Card

Sindh CM urged to introduce Sehat Insaf Sahulat Card

CSR Activist for Thalassemia Eradication from Pakistan, Ateeq Ur Rehman has urged Sindh Chief Minister Murad Ali Shah to introduce "Sehat Insaf Sahulat Card" on urgent basis for special persons and Thalassemia patients.
Published 07 Dec, 2019 12:00am
French government sticks by pension reform as strike bites

French government sticks by pension reform as strike bites

The French government on Friday expressed determination to plough ahead with far-reaching pension reforms in the face of the biggest strikes in years, which have brought public transport in much of the country to a standstill.
Published 07 Dec, 2019 12:00am
At least 7,000 reportedly held in Iran protests: UN

At least 7,000 reportedly held in Iran protests: UN

The United Nations said Friday that at least 7,000 people have "reportedly" been arrested in Iran since mass demonstrations erupted last month, and called for the immediate release of those arbitrarily detained.
Published 07 Dec, 2019 12:00am
'Mega fire' forms north of Sydney

'Mega fire' forms north of Sydney

Several Australian bushfires have combined to form a "mega fire" that is burning out of control across a swathe of land north of Sydney, authorities said Friday, warning they cannot contain the blaze.
Published 07 Dec, 2019 12:00am
'Don't trust Putin', Ukraine ex-leader warns ahead of talks

'Don't trust Putin', Ukraine ex-leader warns ahead of talks

Ukraine's former president Petro Poroshenko on Friday warned his successor to never trust anything Russia's Vladimir Putin says and avoid meeting him one-on-one, three days before crunch talks in Paris.
Published 07 Dec, 2019 12:00am
Australia's repeal of refugee 'Medevac' law 'inhumane': UN

Australia's repeal of refugee 'Medevac' law 'inhumane': UN

Australia's decision to repeal a law allowing ill asylum-seekers in Papua New Guinea and on Nauru to travel to the country for medical treatment was "cruel, inhumane and unnecessary," the United Nations said Friday. The so-called "Medevac" law was passed
Published 07 Dec, 2019 12:00am
Sri Lankan rupee gains
Money & Banking

Sri Lankan rupee gains

Sri Lankan rupee rose 0.17% to 181.10/30 per dollar on Friday, compared to Thursday's close of 181.40/50, Refinitiv data showed. It is up 0.8% so far this year. Foreign investors were sellers on Friday in the equity market for the 27th session out of last
Published 07 Dec, 2019 12:00am
Dollar drifts down in Asian trade
Money & Banking

Dollar drifts down in Asian trade

The dollar headed for its worst week since October on Friday, dragged down by nervousness on trade and hints of weakness in the US economy, with domestic factors leaving the resurgent kiwi and British pound the main beneficiaries.
Published 07 Dec, 2019 12:00am
Euro steadies in Europe
Money & Banking

Euro steadies in Europe

The euro was steady on Friday against the dollar, which was headed for its worst week since mid-October by concern over US-China trade relations and hints of weakness in the US economy. New Zealand's kiwi rebounded amid renewed risk appetite and encouragi
Published 07 Dec, 2019 12:00am
Dollar slides on recent round of weak US data
Money & Banking

Dollar slides on recent round of weak US data

The dollar dropped for a fifth straight session on Thursday, pressured by softer-than-expected US economic data and this week's robust performance by the euro and the British pound. The Federal Reserve, at its last monetary policy meeting, said it was on
Published 07 Dec, 2019 12:00am
South Africa's rand barely changed
Money & Banking

South Africa's rand barely changed

South Africa's rand was barely changed in late trade on Friday, with fresh optimism over Sino-US trade talks helping the currency to weather stronger employment numbers from the United States. At 1530 GMT, the rand edged 0.07% firmer at 14.6400, improving
Published 07 Dec, 2019 12:00am
Asian currencies stuck in limbo
Money & Banking

Asian currencies stuck in limbo

Most emerging Asian currencies held tight ranges on Friday after a week of back-and-forth headlines on trade, which kept investors firmly on the sidelines. Investors held big bets in check pending firmer signs on whether Washington and Beijing could reach
Published 07 Dec, 2019 12:00am
Sterling set for biggest weekly rise in nearly 2 months
Money & Banking

Sterling set for biggest weekly rise in nearly 2 months

Sterling fell on Friday, consolidating after three days of gains that took the pound to 2-1/2-year high versus the euro and a seven-month high against the dollar on expectations that the Conservative Party will win next week's British election. The pound
Published 07 Dec, 2019 12:00am
High flying kiwi dollar leaves Aussie in the dust
Money & Banking

High flying kiwi dollar leaves Aussie in the dust

The New Zealand dollar was perched near four-month peaks on Friday having out flown all competitors this week as a run of upbeat economic data and a favourable ruling on bank capital gave it a major lift on its Australian peer.
Published 07 Dec, 2019 12:00am
Ali Zia quits PCB's Senior GM job
Cricket

Ali Zia quits PCB's Senior GM job

Ali Zia has stepped down from his position as Pakistan Cricket Board (PCB)'s Senior General Manager - Academies with immediate effect.
Published 07 Dec, 2019 12:00am
PCB fixes ticket prices at Rs 50
Cricket

PCB fixes ticket prices at Rs 50

The Pakistan Cricket Board (PCB) Friday announced ticket prices and sale details for the Osaka Batteries Cup Pakistan against Sri Lanka Test Series 2019.
Published 07 Dec, 2019 12:00am
Leading sponsor drops Cricket South Africa over controversies
Cricket

Leading sponsor drops Cricket South Africa over controversies

The pressure on South African cricket's leading administrators increased on Friday when a major sponsor announced it would not renew its agreement with Cricket South Africa. A spokesman for Standard Bank, which sponsors the national team, made it clear th
Published 07 Dec, 2019 12:00am
Wozniacki to retire after Australian Open
Other

Wozniacki to retire after Australian Open

Former world number one Caroline Wozniacki announced on Friday that she will retire after next month's Australian Open, insisting she "has accomplished everything" she wanted on a tennis court.
Published 07 Dec, 2019 12:00am
US-China trade pact 'still close': White House
Global Business Economy

US-China trade pact 'still close': White House

A partial trade pact with China remains close at hand, a top White House economic aide said Friday, days before another round of US tariffs is due to take effect.
Published 07 Dec, 2019 12:00am