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Print - 2019-12-08
One killed, four injured in blast

One killed, four injured in blast

A mechanic, identified as Hafiz Mahmood, lost his life while and four others received injuries on Saturday when a blast took place inside an air-conditioners' shop. The blast took place in the city's Township area. The body and the injured persons were sh
Published 08 Dec, 2019 12:00am
Rs 297.64 billion released under PSDP

Rs 297.64 billion released under PSDP

The federal government has released Rs 297.64 billion (42.5 percent) including Rs 61.75 billion foreign aid (48.13 percent) for various ongoing and new development projects under Public Sector Development Programme (PSDP) 2019-20 against the total budgete
Published 08 Dec, 2019 12:00am
Hafeez identifies impediments to growth

Hafeez identifies impediments to growth

Advisor to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Saturday said healthy export growth is essential for a long-term economic development.
Published 08 Dec, 2019 12:00am
US, Iran swap prisoners in rare act of cooperation

US, Iran swap prisoners in rare act of cooperation

The United States and Iran swapped prisoners - a Chinese-American detained for three years on spying charges and an imprisoned Iranian - on Saturday in a rare act of cooperation between two longtime foes whose ties have worsened since President Donald Tru
Published 08 Dec, 2019 12:00am
CCP lists factors behind increase in vehicles' prices

CCP lists factors behind increase in vehicles' prices

The Competition Commission of Pakistan (CCP) has termed fluctuation in dollar-rupee parity and additional taxation as major factors behind increase in the prices of locally manufactured vehicles in the country.
Published 08 Dec, 2019 12:00am
NTC seeking reversal of increase in turnover tax

NTC seeking reversal of increase in turnover tax

National Telecommunication Corporation (NTC) is vigorously seeking the reversal of an increase in turnover tax, well-informed sources told Business Recorder. NTC was established under section 41 of the Pakistan Telecommunication Re- organization Ac
Published 08 Dec, 2019 12:00am
World Bank to reduce lending to China

World Bank to reduce lending to China

The World Bank said Saturday its lending to China has fallen sharply and will continue to be pared back, after US President Donald Trump demanded it stop altogether.
Published 08 Dec, 2019 12:00am
Legalising non-duty paid items: FBR planning to launch scheme

Legalising non-duty paid items: FBR planning to launch scheme

The Federal Board of Revenue (FBR) is planning to launch a scheme on national level to provide an opportunity to the owners of smuggled goods to legalize non-duty paid items on payment of duties/taxes and fine/default surcharge.
Published 08 Dec, 2019 12:00am
Maryam seeks removal of name from ECL

Maryam seeks removal of name from ECL

Pakistan Muslim League-Nawaz Vice President Maryam Nawaz Saturday approached the Lahore High Court for removal of her name from the Exit Control List (ECL) and to allow her to go abroad. A division bench comprising Justice Ali Baqar Najafi and Justice Anw
Published 08 Dec, 2019 12:00am
PML-N leaders meet Nawaz, take stock of situation

PML-N leaders meet Nawaz, take stock of situation

Pakistan Muslim League-Nawaz (PML-N) leaders arrived in London for an important meeting of the party on Saturday, private TV channels reported. Khawaja Asif, Marriyum Aurangzeb, Rana Tanveer, Shehbaz Sharif, Ayaz Sadiq, Ahsan Iqbal and Amir Muqam are taki
Published 08 Dec, 2019 12:00am
Saudis distance themselves from US naval base shooter

Saudis distance themselves from US naval base shooter

Saudi Arabia sought to distance itself Saturday from a student who carried out a fatal shooting at an American naval base, as it seeks to repair its image of being an exporter of Islamic extremism.
Published 08 Dec, 2019 12:00am
US resumes talks with Taliban in Doha

US resumes talks with Taliban in Doha

Washington resumed talks with the Taliban in Qatar Saturday, a US source said, three months after President Donald Trump abruptly halted diplomatic efforts that could end America's longest war.
Published 08 Dec, 2019 12:00am
Dua Mangi returns home safely: family

Dua Mangi returns home safely: family

A week after being kidnapped from Karachi's upscale neighbourhood at gunpoint, 20-year-old female student Dua Mangi, a law student, has safely reached her home, according to her family.
Published 08 Dec, 2019 12:00am
IAEA body's visit aimed at cooperation in nuclear security

IAEA body's visit aimed at cooperation in nuclear security

A delegation of International Atomic Energy Agency (IAEA) led by Raja Abdul Aziz Raja Adnan, Head of IAEA's Nuclear Security Division, visited Pakistan from December 4-7, 2019 to further strengthen the ongoing cooperation between Pakistan and IAEA in the
Published 08 Dec, 2019 12:00am
UK Labour leader calls Russia leak accusations 'nonsense'

UK Labour leader calls Russia leak accusations 'nonsense'

The leader of Britain's main opposition Labour party on Saturday dismissed as a "conspiracy theory" claims that a leaked classified government document used in his election campaign was put online by Russia.
Published 08 Dec, 2019 12:00am
'In-house change'
Letters

'In-house change'

Business Recorder seems to have dwelled on the Sharifs' misfortune with smugness. In an editorial "In-house change" carried by the newspaper yesterday, it has been argued that "Implicit in this scenario is the belief (or hope?) that Imran Khan's ba
Published 08 Dec, 2019 12:00am
Trump trial to sideline senators in presidential race
Articles

Trump trial to sideline senators in presidential race

Donald Trump's impeachment would not only trigger an extraordinary US Senate trial, it would ensnare - with potentially ruinous results - several of the candidates aiming to defeat the president at a critical time in the 2020 election process.
Published 08 Dec, 2019 12:00am
UK election: parties take battle for ideas to social media
Articles

UK election: parties take battle for ideas to social media

At a dingy office space in north London, around 60 Labour activists busied themselves recently with the basics of modern campaigning before next week's general election. Far from traditional door-to-door canvassing, they were deployed on social media - a
Published 08 Dec, 2019 12:00am
In search of exporting FDI
Articles

In search of exporting FDI

State Bank of Pakistan (SBP) governor Dr Reza Baqir lately said that focusing on export can take the country out of the boom bust cycle. That is a right approach as import compression is a stop-gap solution to avert the balance of payment crisis. Now with
Published 08 Dec, 2019 12:00am
Kafkaesque situations?

Kafkaesque situations?

Fatherhood is a grim challenge, especially for one who is poor, powerless such as the fathers of Naqeebullah and Mashal Khan. Naqeebulah's father, Muhammad Khan, died on Monday in a Rawalpindi hospital while Mashal's father, Iqbal Lala, is on the run fear
Updated 09 Dec, 2019 06:46am
Blunting NAB's edge

Blunting NAB's edge

The recovery of Rs 71 billion - directly or indirectly - constitutes a significant feat. The NAB chief therefore rightly derives pleasure from his organisation's achievement. But not many do not look at it favourably, arguing that accountability by NAB is
Updated 09 Dec, 2019 06:39am
Nepra to issue licence to KP for laying transmission lines
Energy

Nepra to issue licence to KP for laying transmission lines

Chairman, National Electric Power Regulatory Authority (NEPRA), Tauseef H Farooqi Saturday said that the authority intends to issue license to KP for laying its own transmission lines and establishment of transmission companies to generate electricity and
Published 08 Dec, 2019 12:00am
Carjacking on the rise in Capital

Carjacking on the rise in Capital

The incidents of motor vehicle thefts witnessed an increase during the last week in the federal capital as carjackers stole or snatched over 10 vehicles from various localities.
Published 08 Dec, 2019 12:00am
CEC, ECP members: NA speaker rules out constitutional crisis

CEC, ECP members: NA speaker rules out constitutional crisis

Speaker National Assembly, Asad Qaiser has ruled out any constitutional crisis for nominations of Chief Election Commissioner (CEC) and members of election commission, saying they should shun differences and unite on matters relating to national interest.
Published 08 Dec, 2019 12:00am
Lawyers reject two new laws promulgated by KP government

Lawyers reject two new laws promulgated by KP government

Lawyers' community of Khyber Pakhtunkhwa Saturday rejected the KP Civil Procedure (Amendment) Act, 2019 and KP Control Narcotics Substance Act, 2019 and announced a three-day strike against these legislations promulgated by the provincial government.
Published 08 Dec, 2019 12:00am
Geelani calls for shutdown, black day in IHK on World HR Day

Geelani calls for shutdown, black day in IHK on World HR Day

The Chairman of All Parties Hurriyat Conference, Syed Ali Geelani, has appealed to the people to observe the World Human Rights Day, the 10th December, as Black Day to draw the attention of the international community towards the appalling human rights si
Published 08 Dec, 2019 12:00am
PM condoles

PM condoles

Prime Minister Imran Khan has expressed his deep condolences on the demise of Sheikha Mariam bint Abdullah Al Attiyah, mother of the Prime Minister and the Interior Minister of the State of Qatar. In his condolence message, the Prime Minister prayed for t
Published 08 Dec, 2019 12:00am
Zardari can be dealt with akin to Nawaz, Shahbaz: Fawad

Zardari can be dealt with akin to Nawaz, Shahbaz: Fawad

Federal Minister for Science and Technology, Fawad Chaudhry on Saturday said that the Pakistan Armed Forces and the judiciary of Pakistan are respected state institutes which should be addressed with due respect when being talked about.
Published 08 Dec, 2019 12:00am
FCCI to ink MoU with Cross Border E-Commerce Forum
Business & Economy

FCCI to ink MoU with Cross Border E-Commerce Forum

Faisalabad Chamber of Commerce & Industry (FCCI) will ink a Memorandum of Understanding (MoU) with Cross Border E-Commerce Forum to introduce this innovative tool to give a quantum jump to the export especially by SME sector, said Rana Sikandar-e-Azam Pre
Published 08 Dec, 2019 12:00am
GCU new campus: VC reviews progress of uplift works

GCU new campus: VC reviews progress of uplift works

Professor Dr Asghar Zaidi, Vice-Chancellor of Government College University Lahore, on Saturday visited the 370 acres under-construction new campus of the university at Kala Shah Kaku and reviewed the progress of developmental work.
Published 08 Dec, 2019 12:00am
FFC signs MoU with SWF

FFC signs MoU with SWF

Sona Welfare Foundation (SWF) as the implementing partner for Fauji Fertilizer Company (FFC) has signed a Memorandum of Understanding with Akhuwat Islamic Microfinance in efforts to financially support and empower the marginalized communities.
Published 08 Dec, 2019 12:00am
PIA urged to set up sub-office at LCCI
Business & Economy

PIA urged to set up sub-office at LCCI

President of the Lahore Chamber of Commerce & Industry Irfan Iqbal Sheikh on Saturday invited the Pakistan International Airlines (PIA) to establish its sub office at the Lahore Chamber to facilitate its members.
Published 08 Dec, 2019 12:00am
Firdous for presenting country's soft image across the globe

Firdous for presenting country's soft image across the globe

Terming media role vital in mustering public opinion on the government's initiatives, Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Saturday said that all wings of the Information Departments in the center and p
Published 08 Dec, 2019 12:00am
World Human Rights Day on December 10

World Human Rights Day on December 10

The World Human Rights Day would be observed on December 10 and different events would be held to highlight the human rights and to raise awareness regarding responsibilities for the safety of human rights.
Published 08 Dec, 2019 12:00am
Guidelines for ADP for next FY explained
Business & Economy

Guidelines for ADP for next FY explained

The Sindh government in its guidelines for Annual Development Programme (ADP) for the next financial year explained that the amount for the projects to be financed through foreign assistance should separately be mentioned in rupees, indicating the expendi
Published 08 Dec, 2019 12:00am
Gems export up 47 percent in July-October
Commodities

Gems export up 47 percent in July-October

Pakistan's export of gems shot up by 47 percent to US$1.762 million in July-Oct 2019, official figure said. Increase stands at US$562 million in July-Oct 2019 from US$1.2 million in July-Oct 2018, Pakistan Bureau of Statistics shows.
Published 08 Dec, 2019 12:00am
Over 1,100 awarded degrees at IoBM convocation

Over 1,100 awarded degrees at IoBM convocation

Institute of Business Management (IoBM) on Saturday held its 22nd convocation and conferred degrees to over 1100 graduates in business management and other disciplines. This is IoBM's largest graduating batch since the institute's inception in 1996.
Published 08 Dec, 2019 12:00am
UBG candidate elected FPCCI VP unopposed
Business & Economy

UBG candidate elected FPCCI VP unopposed

Muhammad Ali Quaid, a candidate of United Business group (UBG), has been elected unopposed as Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) for the year 2020 on federal area seat unofficially.
Published 08 Dec, 2019 12:00am
Two more dengue patients die in Karachi

Two more dengue patients die in Karachi

The dengue fever cases were reportedly dropped by 93 percent but the situation in Sindh disappointing as two more dengue patients died in Karachi hospitals. As per details, a woman resident of North Nazimabad and a three-month-old baby of Gulshan-e-Malir
Published 08 Dec, 2019 12:00am
Body formed for safety of heritage

Body formed for safety of heritage

Sindh Government Constituted a committee at District level as District Heritage Committee headed by Deputy Commissioner as chairman and representatives of Culture & Tourism and Archives as Secretary while in members DEO Semis Habibullah Kumbhar, Associate
Published 08 Dec, 2019 12:00am
Khursheed's judicial remand extended till December 12

Khursheed's judicial remand extended till December 12

An accountability court in Sukkur on Saturday extended the judicial remand of Pakistan Peoples Party (PPP) senior leader Syed Khursheed Shah till December 12 in a case regarding his alleged assets beyond means.
Published 08 Dec, 2019 12:00am
Prices of essential kitchen items witness mixed trend

Prices of essential kitchen items witness mixed trend

Prices of most of the essential kitchen items have witnessed a mixed trend during this week past as compared to previous week, a survey conducted by Business Recorder revealed here on Saturday.
Published 08 Dec, 2019 12:00am
Madadgar distributes clothes, notebooks among orphans, students

Madadgar distributes clothes, notebooks among orphans, students

A local welfare organization - Madadgar Development Programme - distributed warm clothes and note books among the orphan and poor schoolchildren from low income families in an effort to mitigate their sufferings in the chilly winter season.
Published 08 Dec, 2019 12:00am
Sarsabz hosts event to highlight issues of farmers

Sarsabz hosts event to highlight issues of farmers

Pakistan's leading fertilizer brand Sarsabz, as part of its 'Salam Kissan, Sarsabz Pakistan' initiative, hosted a special event to celebrate the role and contribution of farmers at Mehran Culture Auditorium in Sukkur.
Published 08 Dec, 2019 12:00am
NAB recovers Rs 5 billion through plea bargain

NAB recovers Rs 5 billion through plea bargain

National Accountability Bureau (NAB) has recovered Rs 5 billion through plea bargain during year 2019. According to annual performance evaluation of NAB Karachi, the bureau has made direct recoveries amounting to Rs 5 billion through plea bargain during y
Published 08 Dec, 2019 12:00am
MoIT for Pak-China IT cooperation under CPEC framework
IT & Computers

MoIT for Pak-China IT cooperation under CPEC framework

The Ministry of Information Technology and Telecommunication (MoIT) has approached Ministry of Planning, Development & Reforms to promote IT cooperation between China and Pakistan under the China-Pakistan Economic Corridor (CPEC) framework.
Published 08 Dec, 2019 12:00am
Bangladesh tears down brick kilns to fight toxic smog

Bangladesh tears down brick kilns to fight toxic smog

Excavators flanked by Bangladesh riot police are at work demolishing illegal soot-belching brick kilns around the smog-choked capital Dhaka, forcing migrant labourers out of work and back to their villages.
Published 08 Dec, 2019 12:00am
Turkmenistan Airlines flies to EU again after ban
Global Business Economy

Turkmenistan Airlines flies to EU again after ban

National carrier Turkmenistan Airlines resumed flights to the European Union on Saturday after a 10-month hiatus triggered by an EU ban. An AFP correspondent in Turkmenistan saw 50 passengers line up to check in for the airline's 0700 GMT flight to Frankf
Published 08 Dec, 2019 12:00am
New travel misery in France as unions warn of fresh turmoil
Global Business Economy

New travel misery in France as unions warn of fresh turmoil

The most serious nationwide strike to hit France in years caused new misery for weekend travellers on Saturday, with defiant unions dismissing proposals by the government and warning walkouts would last well into next week.
Published 08 Dec, 2019 12:00am
PG&E agrees to $13.5bn payout for deadly California fires
Energy

PG&E agrees to $13.5bn payout for deadly California fires

California's Pacific Gas and Electric will pay $13.5 billion to settle lawsuits over its role in a series of wildfires that killed scores of people and destroyed thousands of homes, the utility giant said Friday.
Published 08 Dec, 2019 12:00am
Troubled HK Airlines allowed to keep operating

Troubled HK Airlines allowed to keep operating

Cash-strapped carrier Hong Kong Airlines was handed a lifeline by regulators on Saturday after they decided not to punish it for delaying salary payments amid an ongoing financial crisis. The international finance hub has seen six months of protests which
Updated 08 Dec, 2019 06:17pm
China's forex reserves ease to $3.096 trillion
Global Business Economy

China's forex reserves ease to $3.096 trillion

China's foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement. Analysts polled by Reuters had expected Chin
Published 08 Dec, 2019 12:00am
Floods kill 12 people in western Uganda

Floods kill 12 people in western Uganda

Twelve people have been swept to their deaths by floods in western Uganda, the Red Cross said on Saturday, as the East African country is battered by torrential rain. "We have recovered 12 bodies from the water and one person has been rushed to hospital w
Published 08 Dec, 2019 12:00am
Air strikes kill 19 civilians in northwest Syria

Air strikes kill 19 civilians in northwest Syria

Syrian regime and Russian air strikes on Saturday killed 19 civilians, eight of them children, in the country's last major opposition bastion, a war monitor said.
Published 08 Dec, 2019 12:00am
Top US stockpickers keep low profile
Stocks

Top US stockpickers keep low profile

The co-managers of the best stock mutual fund of this decade work out of a small office in Los Angeles, rarely talk with the financial media and have never appeared as guests on CNBC looking to raise their profile.
Published 08 Dec, 2019 12:00am
Wall Street climbs on solid jobs data, trade hopes
Stocks

Wall Street climbs on solid jobs data, trade hopes

Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite. All three major US stock indexes gained ground, hovering within 1% of reco
Published 08 Dec, 2019 12:00am
Canadian dollar weakens
Money & Banking

Canadian dollar weakens

The Canadian dollar weakened against its US counterpart on Friday, unwinding much of this week's gains after data showing a slump in domestic jobs suggested the economy was not as resilient as the Bank of Canada had hoped.
Published 08 Dec, 2019 12:00am
Dollar shines after blockbuster US jobs report
Money & Banking

Dollar shines after blockbuster US jobs report

The dollar gained on Friday after five straight days of losses, lifted by data showing the US economy created many more jobs than expected in November, backing the Federal Reserve's stance of keeping interest rates on hold after cutting them three times t
Published 08 Dec, 2019 12:00am
Cotton prices rise on renewed buying by mills
Cotton & Textile

Cotton prices rise on renewed buying by mills

Cotton prices improved on the local market on Saturday due to mills' renewed buying to replenish their stock, dealers said. The official spot rate maintained overnight level Rs 8800, they added. In ready session, about 10,000 bales of cotton changed hands
Published 08 Dec, 2019 12:00am
Algeria buys 500,000 tonnes of wheat
Commodities

Algeria buys 500,000 tonnes of wheat

Algeria's state grains agency OAIC has purchased about 500,000 tonnes of milling wheat in an international tender that closed on Wednesday, European traders said on Thursday. Initial unconfirmed trade estimates put the purchase at about 480,000 tonnes to
Published 08 Dec, 2019 12:00am
Asia's naphtha halts falls, gasoline edges higher
Energy

Asia's naphtha halts falls, gasoline edges higher

Asia's naphtha crack edged higher on Thursday after falling for three consecutive sessions, boosted by expectations of near-term supply shortages, trade sources said. Signs of improved naphtha output following maintenance shutdowns helped ease naphtha cra
Published 08 Dec, 2019 12:00am
Liverpool seal Christmas No 1 spot as Tottenham run riot
Football

Liverpool seal Christmas No 1 spot as Tottenham run riot

Rampant Liverpool beat Bournemouth 3-0 to lock down the Christmas number one spot ahead of Saturday's Manchester derby as Jose Mourinho's Tottenham blitzed Burnley 5-0 to climb to fifth in table. Interim boss Duncan Ferguson lifted Everton's spirits, cond
Published 08 Dec, 2019 12:00am
Play abandoned due to dangerous MCG pitch
Cricket

Play abandoned due to dangerous MCG pitch

Play was abandoned Saturday during a domestic game due to a dangerous pitch at the Melbourne Cricket Ground, just weeks before it is due to host the traditional Boxing Day Test.
Published 08 Dec, 2019 12:00am