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Print - 2020-01-24
PM meets world leaders

PM meets world leaders

Prime Minister Imran Khan on Thursday met President of the European Union Parliament David Sassoli in Davos, Switzerland on the sidelines of the World Economic Forum (WEF) Annual Meeting 2020.
Published 24 Jan, 2020 12:00am
Foreign investors repatriate $836 million in 1H

Foreign investors repatriate $836 million in 1H

Repatriation of profit and dividend by foreign investors rose by 10 percent during the first half (July-Dec) of this fiscal year (FY20) compared to same period of last fiscal year (FY19).
Published 24 Jan, 2020 12:00am
Crisis of urea fertilizer in the offing

Crisis of urea fertilizer in the offing

Another crisis, now in urea fertilizer is in the offing as government has reduced GIDC by Rs 400 per bag but at the same time Rs 200 per bag rise is envisaged due to increase in natural gas prices.
Published 24 Jan, 2020 12:00am
PAC seeks briefing from NAB chairman

PAC seeks briefing from NAB chairman

Following the release of Transparency International (TI) report on corruption index which depicted that corruption level in Pakistan has jumped up over the past year, the Public Accounts Committee (PAC) has decided to summon chairman National Accountabili
Published 24 Jan, 2020 12:00am
Corruption increases: TI

Corruption increases: TI

Corruption in Pakistan increased in 2019 as compared to the preceding year, as Pakistan's ranking dropped to 120 out of 180 countries with a score of 32 out of 100, according to the annual Corruption Perceptions Index (CPI) report for 2019, released by Tr
Published 24 Jan, 2020 12:00am
CPEC projects yielding tangible benefits: ministry

CPEC projects yielding tangible benefits: ministry

Responding to the statement of US Acting Assistant Secretary of State Alice Wells on CPEC, spokesperson of Ministry of Planning, Development and Special Initiatives has said that CPEC project under the overarching umbrella of BRI is a well thought-out ini
Published 24 Jan, 2020 12:00am
Pakistan, too, defends CPEC

Pakistan, too, defends CPEC

A day after China took strong exception to the top US diplomat's remarks about China-Pakistan Economic Corridor (CPEC), Pakistan also categorically rejected the US claims that the multibillion dollars project is being financed either through loans or non-
Published 24 Jan, 2020 12:00am
Queen gives assent for Britain to leave EU

Queen gives assent for Britain to leave EU

Queen Elizabeth II gave her formal assent Thursday for Britain to end its decades-long involvement in the European Union and seek a more independent but uncertain future at the end of the month.
Published 24 Jan, 2020 12:00am
Governance and economy: PM shares his vision

Governance and economy: PM shares his vision

Prime Minister Imran Khan on Thursday said his vision for a strong Pakistan was revival of industries for wealth creation, to be spent on the uplift of underprivileged segments in a welfare-oriented society. Speaking at 'Breakfast at Davos', an event join
Published 24 Jan, 2020 12:00am
APNS condemns 'Centralized Advertisement Policy'

APNS condemns 'Centralized Advertisement Policy'

"A meeting of the Federal Capital Committee of the APNS was held on Wednesday January 20, 2020 at Islamabad. The meeting was chaired by the Chairman Mohsin Bilal.
Published 24 Jan, 2020 12:00am
Economic risks 'less pronounced' as trade tensions ease: Lagarde

Economic risks 'less pronounced' as trade tensions ease: Lagarde

European Central Bank chief Christine Lagarde on Thursday said risks to the eurozone economy had become "less pronounced" in the wake of a US-China trade truce even as President Donald Trump reignited a trade spat with Europe.
Published 24 Jan, 2020 12:00am
New tax laws: Traders required to get registered, seek buyers' CNICs

New tax laws: Traders required to get registered, seek buyers' CNICs

After changes in the tax laws under Finance Supplementary (Second Amendment) Act, 2019, the wholesalers-cum-traders would be required to get registered with the Sales Tax Department and seek CNICs of the unregistered buyers from February 1, 2020.
Published 24 Jan, 2020 12:00am
Ballistic missile Ghaznavi launched successfully: ISPR

Ballistic missile Ghaznavi launched successfully: ISPR

Pakistan has conducted a successful training launch of surface to surface ballistic missile Ghaznavi, capable of delivering multiple types of warheads up to a range of 290 kilometers, the military's media wing said Thursday.
Published 24 Jan, 2020 12:00am
China's response
Letters

China's response

This is apropos a Business Recorder news item "Pakistan-China relationship, CPEC: China expresses opposition to US 'interference'" carried by the newspaper yesterday. According to which, the Chinese Embassy in Islamabad has dismissed the 'negative
Published 24 Jan, 2020 12:00am
Price rationalization - II
Articles

Price rationalization - II

The proposed Price Commission for Agricultural Sector (PCAS) should also try to ensure minimization of price shocks related with commodity supply chain disruptions - both voluntary (hoarding practices) and involuntary (climate change).
Published 24 Jan, 2020 12:00am
Subverting tax tribunals
Articles

Subverting tax tribunals

"The raison d'être of establishing special tribunals has been to dispense better quality of justice where people, better trained in particular fields and disciplines could provide quality decisions and resolution of disputes... . Appointing members to the
Published 24 Jan, 2020 12:00am
Violence and harassment against journalists

Violence and harassment against journalists

Ranked 42nd among 180 countries in the World Press Freedom Index, Pakistan continues to remain one of the most dangerous places for journalists. In its "Media Freedoms Report, 2019", the Council of Pakistan Newspaper Editors (CPNE) makes the distressing r
Updated 24 Jan, 2020 06:10am
Imran Khan at Davos

Imran Khan at Davos

Prime Minister Imran Khan while addressing the moderated non-plenary session on Pakistan Country Strategy Dialogue at the World Economic Forum at Davos stated that his administration has successfully stabilized the economy and is now consciously planning
Updated 24 Jan, 2020 06:11am
Bilal Sheikh granted bail in fake bank accounts case

Bilal Sheikh granted bail in fake bank accounts case

The Islamabad High Court (IHC) Thursday granted post-arrest bail to Bilal Sheikh, former president of Sindh Bank, in the fake bank accounts case. A division bench of IHC headed by Justice Aamer Farooq heard Bilal Sheikh's bail application in the fake bank
Published 24 Jan, 2020 12:00am
UN Under-SG to be invited to visit AJK: Masood

UN Under-SG to be invited to visit AJK: Masood

President Azad Jammu & Kashmir (AJK) Sardar Masood Khan has proposed to invite the United Nations (UN) Under-Secretary General for Humanitarian Affairs to visit the AJK and also to organise an international conference to review the adverse effects of clim
Published 24 Jan, 2020 12:00am
In-house change not unconstitutional, says Hamza

In-house change not unconstitutional, says Hamza

Opposition leader in Punjab Assembly Hamza Shahbaz Sharif said on Thursday that in house change in parliament is not unconstitutional. He was talking to media outside the Punjab Assembly. He also said that PML-N has opened its doors and windows for every
Published 24 Jan, 2020 12:00am
Senate panel to take up seven key bills today

Senate panel to take up seven key bills today

The Senate Standing Committee on Law and Justice will take up seven key bills today (Friday) referred to it by the House during its ongoing session. Senator Javed Abbasi of Pakistan Muslim League-Nawaz (PML-N) will preside over the meeting where two const
Published 24 Jan, 2020 12:00am
Fake account case: Judicial remand of Ijaz Haroon extended till Feb 10

Fake account case: Judicial remand of Ijaz Haroon extended till Feb 10

The Accountability Court hearing the multibillion rupees fake bank accounts case on Thursday extended judicial remand of Ijaz Haroon, chairman Overseas Cooperative Society (OCS) and former chairman Pakistan International Airline (PIA), till February 10.
Published 24 Jan, 2020 12:00am
Deceptive marketing: CCP slaps Rs 35 million fine on dairy firm

Deceptive marketing: CCP slaps Rs 35 million fine on dairy firm

The Competition Commission of Pakistan (CCP) has said that disregard for the applicable competition law and consumer welfare within the dairy industry is alarming and it must be ensured that such conducts are dealt with an iron hand and are not ignored.
Published 24 Jan, 2020 12:00am
Ivanka Trump meets PM in Davos

Ivanka Trump meets PM in Davos

Daughter of the US President, Ivanka Trump met with Prime Minister Imran Khan on the sidelines of the World Economic Forum (WEF) 2020 summit.
Published 24 Jan, 2020 12:00am
Court issues notice to NAB over Ashraf's plea

Court issues notice to NAB over Ashraf's plea

The Accountability Court hearing Reshma Rental Power Plant (RPP) and Gulf Power Generation Company Ltd cases against former prime minister Raja Pervez Ashraf and others on Thursday issued notice to National Accountability Bureau (NAB) regarding Ashraf's a
Published 24 Jan, 2020 12:00am
Sindh to have 1800 'investors hub schools'

Sindh to have 1800 'investors hub schools'

Sindh Teacher Education Development Authority (STEDA) will establish 1800 investors hub schools in the province. Director STEDA Haroon Laghari told Sindh High Court (SHC) in a compliance report in a case on behalf of Secretary School Education & Literacy
Published 24 Jan, 2020 12:00am
HCCI hosts reception for US Consulate's economic chief

HCCI hosts reception for US Consulate's economic chief

The economic chief of American consulate Chad Miner said that Hyderabad was good for investment and he would try to convince American investors to invest in Hyderabad. This he said in a reception given by president Hyderabad Chamber of Commerce and Indust
Published 24 Jan, 2020 12:00am
Moot on Japanese economic development held

Moot on Japanese economic development held

Pakistan-Japan friendship goes a long way down the history lane. They have stood by each other through many a thick and thin. Both share cultural commonalities despite linguistic variations. Pluralism, respect for relations, compassion, sensitivity, respe
Published 24 Jan, 2020 12:00am
34 tandoors sealed over not maintaining standard

34 tandoors sealed over not maintaining standard

KP Food Authority has registered 2138 tandoors in across Khyber Pakhtunkhwa after conducting their inspection while 34 tandoors have been sealed over poor cleanliness situation and violation of the food safety standards, said a survey report of the author
Published 24 Jan, 2020 12:00am
MoITT plans to revive TIP through joint venture
Telecommunication

MoITT plans to revive TIP through joint venture

The Ministry of Information Technology and Telecommunication (MoITT) has short-listed two companies to finalize one of them as Financial Advisor (FA) to provide Transaction Advisory Services (TAS) to solicit partnership through a suitable mode to utilize
Published 24 Jan, 2020 12:00am
NUST gets CSR Award for 'Impact through education'

NUST gets CSR Award for 'Impact through education'

In recognition of its extraordinary Corporate Social Responsibility (CSR) efforts and initiatives, National University of Sciences and Technology (NUST) was conferred the CSR Award for "Impact through Education" by the National Forum for Environment & Hea
Published 24 Jan, 2020 12:00am
IPAS solution: Ministry inks MoU with PITB
IT & Computers

IPAS solution: Ministry inks MoU with PITB

The Ministry of Planning, Development & Special Initiatives and Punjab Information Technology Board have agreed to initiate implementation of Intelligent Project Automation System (IPAS) to improve government businesses in internal processes and establish
Published 24 Jan, 2020 12:00am
JI rally against soaring prices today

JI rally against soaring prices today

While announcing his party to hold protest demonstrations and rallies today (Friday) across the province against the increasing price-hike, unemployment and government 'anti-masses' policies, Jamaat-e-Islami (JI) provincial Ameer, Senator Mushtaq Ahmad Kh
Published 24 Jan, 2020 12:00am
Work on Faisal Avenue underpass resumes

Work on Faisal Avenue underpass resumes

The Capital Development Authority (CDA) has resumed work on G-7/G-8 underpass at Faisal Avenue. Effective traffic management/ diversion, in consultation of Islamabad Traffic Police, is being ensured to maintain the traffic flow on the avenue, while transp
Published 24 Jan, 2020 12:00am
Ghani accuses Pakistan of sheltering insurgents

Ghani accuses Pakistan of sheltering insurgents

Afghanistan's President Ashraf Ghani alleged on Thursday that Pakistan continued to give sanctuary to an insurgent group that helps the Taliban in its war against Kabul and the United States, directly contradicting an earlier statement by Pakistan's prime
Published 24 Jan, 2020 12:00am
NICVD's 15th chest pain unit opens in Jacobabad

NICVD's 15th chest pain unit opens in Jacobabad

National Institute of Cardiovascular Diseases (NICVD) in collaboration with the Government of Sindh has inaugurated its 15th "Chest Pain Unit" in Jacobabad at JIMS to facilitate patients with chest pain with easy access and free of cost services. Mir Aija
Published 24 Jan, 2020 12:00am
Int'l moot on social sciences held at SZABIST

Int'l moot on social sciences held at SZABIST

SZABIST Karachi Campus, organized an International Conference on Interdisciplinary research in Management, Education and Social Sciences on 18th & 19th January, 2020 at a local hotel. Revolving around the theme of "New Horizons for data driven world: Chal
Published 24 Jan, 2020 12:00am
Buzdar and disgruntled MPAs' meeting postponed

Buzdar and disgruntled MPAs' meeting postponed

The meeting between a group of 'disgruntled' PTI lawmakers and Punjab Chief Minister Sardar Usman Buzdar which was scheduled for Thursday has been postponed due to CM's busy schedule.
Published 24 Jan, 2020 12:00am
Students throng IoBM's 'Career Fair'

Students throng IoBM's 'Career Fair'

As many as 50 leading national and multinational companies set up their stalls at the Career Fair held on Thursday, organised by the International Cooperation, Placement and Alumni Department of the Institute of Business Management (IoBM).
Published 24 Jan, 2020 12:00am
Fertiliser sector opposes raise in gas tariff
Energy

Fertiliser sector opposes raise in gas tariff

Rumours of increasing gas tariff for the fertilizer sector may hamper the government efforts to pass on a decrease of Rs400 per bag of urea to the farming community after curtailing Gas Infrastructure Development Cess (GIDC).
Published 24 Jan, 2020 12:00am
NOC obtained: PIBTL to set up LPG handling facility
Energy

NOC obtained: PIBTL to set up LPG handling facility

Pakistan International Bulk Terminal Limited (PIBTL) is working on setting up LPG handling facility at Port Qasim as part of its expansion plan and has received NOC from Sindh Environmental Protection Agency (SEPA).
Published 24 Jan, 2020 12:00am
KP CM directs construction of water courses in GZD command area

KP CM directs construction of water courses in GZD command area

KP Chief Minister Mahmood Khan has directed to ensure the construction of water courses in Gomal Zam Dam (GZD) Command Area within stipulated timeline further directing for plantation along canal sites so as to prevent soil erosion in the adjoining areas.
Published 24 Jan, 2020 12:00am
Power Division rejects APTMA's claims
Energy

Power Division rejects APTMA's claims

Power Division has refuted the claims of All Pakistan Textile Mills (APTMA) in its letter regarding imposition of surcharges, taxes and positive fuel price adjustment.
Published 24 Jan, 2020 12:00am
US regulator fines ex-Wells Fargo CEO $17.5 million
Money & Banking

US regulator fines ex-Wells Fargo CEO $17.5 million

US banking regulators on Thursday fined ex-Wells Fargo Chief Executive John Stumpf $17.5 million over the bank's 2016 fake accounts scandal, blaming Stumpf and other top former executives for the debacle. The Office of Comptroller of the Currency settled
Published 24 Jan, 2020 12:00am
North Korea to make Munich Security Conference debut in 2020

North Korea to make Munich Security Conference debut in 2020

North Korea will send a delegation to the Munich Security Conference for the first time in the 56-year history of the diplomatic gathering, organisers said Thursday. The conference confirmed that North Korean vice foreign minister Kim Son Gyong would atte
Updated 24 Jan, 2020 06:41am
Missile attack on Yemen MP home kills two including child

Missile attack on Yemen MP home kills two including child

A rebel missile attack on the home of a Yemeni lawmaker killed two of his relatives, authorities said Thursday, drawing condemnation from the UN after a recent strike in the area left 116 dead. Yemen's internationally recognised government - backed by a S
Updated 24 Jan, 2020 06:22am
'Doomsday Clock' closer to midnight than ever

'Doomsday Clock' closer to midnight than ever

The Doomsday Clock on Thursday ticked down to 100 seconds to midnight, symbolizing the greatest level of peril to humanity since its creation in 1947 as the threat posed by climate change and a growing nuclear race loomed large.
Published 24 Jan, 2020 12:00am
One killed, several injured in Seattle mass shooting

One killed, several injured in Seattle mass shooting

At least one person was killed and seven others, including a child, were wounded on Wednesday after a dispute among a group of people escalated into a shootout near a tourist area in downtown Seattle, authorities said.
Updated 24 Jan, 2020 06:47am
UN court orders Myanmar to prevent Rohingya genocide

UN court orders Myanmar to prevent Rohingya genocide

The UN's highest court ordered Myanmar on Thursday to do everything in its power to prevent the genocide of Rohingya Muslims,rex as international justice stepped into the crisis for the first time.
Updated 24 Jan, 2020 06:39am
Israel, US condemn Iran at Holocaust memorial event

Israel, US condemn Iran at Holocaust memorial event

Israel and the United States on Thursday called for action against Iran, comparing it to the threat once posed by Nazi Germany, as world leaders marked 75 years since the liberation of Auschwitz.
Updated 24 Jan, 2020 06:39am
PMEX daily trading report

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,368. The traded value of Metals, Energy and COTS/FX was recorded at PKR 2.811 billion and the number of lots traded was 5,044.
Published 24 Jan, 2020 12:00am
Asia's naphtha crack falls, premiums stay firm
Energy

Asia's naphtha crack falls, premiums stay firm

Asia's naphtha crack extended losses for the third straight day on Wednesday, hitting a two-week low of $83.28 a tonne, while spot premiums remained firm on supply cuts due to refinery maintenance in the Middle East.
Published 24 Jan, 2020 12:00am
China's gold consumption falls on high prices
Commodities

China's gold consumption falls on high prices

China's gold consumption fell for the first time in three years in 2019, figures released by its industry association showed on Tuesday, as high prices and an economic slowdown hit buying in the world's biggest market for the metal.
Published 24 Jan, 2020 12:00am
CBOT soyabean falls to one month low
Commodities

CBOT soyabean falls to one month low

Chicago Board of Trade soyabean futures set a one month low on Wednesday under pressure from expectations for a massive harvest in rival supplier Brazil, traders said.
Published 24 Jan, 2020 12:00am
US natural gas futures higher on lower output
Energy

US natural gas futures higher on lower output

US natural gas futures edged higher on Wednesday on a slowdown in production but hovered near a four-year low on forecasts that mild weather would crimp heating demand through early February.
Published 24 Jan, 2020 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 193,010 tonnes of cargo comprising 163,757 tonnes of import cargo and 29,253 tonnes of export cargo including 6,911 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
Published 24 Jan, 2020 12:00am
Modest trading activity seen on cotton market
Cotton & Textile

Modest trading activity seen on cotton market

Subdued business activity was seen on the cotton market on Thursday due to less buying interest among mills and spinners, dealers said.
Published 24 Jan, 2020 12:00am
CBOT wheat futures lower
Commodities

CBOT wheat futures lower

Chicago Board of Trade wheat futures on Wednesday ended lower on profit-taking after the most-active contract reached its highest price since August 2018, traders said.
Published 24 Jan, 2020 12:00am
Yen up, yuan weakens in Asia
Money & Banking

Yen up, yuan weakens in Asia

The safe-haven Japanese yen firmed and the Chinese yuan weakened on Thursday, as traders kept a wary eye on the spread of a virus in China, while the battered Australian dollar jumped after a surprise drop in unemployment.
Published 24 Jan, 2020 12:00am
Early trade in New York: Dollar gains against euro
Money & Banking

Early trade in New York: Dollar gains against euro

The dollar rose against the euro on Thursday after the European Central Bank left unchanged its key interest rates and stimulus programs and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB's ma
Published 24 Jan, 2020 12:00am
Sterling extends gains as rate cut bets melt
Money & Banking

Sterling extends gains as rate cut bets melt

The sterling extended gains on Thursday, building on the one-month high it reached against the euro in the previous session, as data this week reduced market expectations of a central bank rate cut as early as next week.
Published 24 Jan, 2020 12:00am
Spain joins presenting good luck to Peshawar Zalmi in PSL-2020
Cricket

Spain joins presenting good luck to Peshawar Zalmi in PSL-2020

Peshawar Zalmi has remained the center of attention for foreign ambassadors ahead of PSL 5. The ambassadors of Spain after Turkey and Germany has presented a good luck message to Peshawar Zalmi. A press release issued here on stated Thursday Peshawar Zalm
Published 24 Jan, 2020 12:00am
Weightlifting chief suspended for 90 days
Other

Weightlifting chief suspended for 90 days

International Weightlifting Federation (IWF) president Tamas Ajan was suspended for 90 days on Wednesday in the aftermath of bombshell accusations of corruption and doping in the sport, reports claimed. The organisation's executive board, meeting in Doha,
Published 24 Jan, 2020 12:00am
Sri Lanka post 10-wicket win in first Zimbabwe Test
Cricket

Sri Lanka post 10-wicket win in first Zimbabwe Test

Suranga Lakmal took four for 27 to set up Sri Lanka for a 10-wicket win over Zimbabwe in the first Test in Harare on Thursday. Resuming on 30 without loss and needing 157 to make Sri Lanka bat again, Zimbabwe recovered from the loss of three early wickets
Published 24 Jan, 2020 12:00am
Kabaddi World Cup in Lahore from Feb 9-16
Other

Kabaddi World Cup in Lahore from Feb 9-16

Pakistan is going to host Kabaddi World Cup from February 9-16, 2020 this year for which brisk arrangements continue on the part of the Pakistan Kabaddi Federation in which top teams from 10 countries of the world will take part.
Published 24 Jan, 2020 12:00am