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Print - 2020-02-13
Erdogan arrives today

Erdogan arrives today

President of Turkey Recep Tayyip Erdogan will arrive here on Thursday (today) on a two-day official visit for "further deepening and broadening of the flourishing Pakistan-Turkey strategic partnership". According to the Foreign Office spokesperson, Aisha
Published 13 Feb, 2020 12:00am
Pakistan, Turkey likely to ink SEF

Pakistan, Turkey likely to ink SEF

Pakistan and Turkey are likely to ink Strategic Economic Framework (SEF) during the visit of Turkish President Recep Tayyip Erdogan, including defence, finance, trade, economy, customs, agriculture, banking and finance etc, well-informed sources told B
Published 13 Feb, 2020 12:00am
No single coronavirus case confirmed in country: Dr Zafar

No single coronavirus case confirmed in country: Dr Zafar

Special Assistant to the Prime Minister on Health Dr Zafar Mirza declared on Wednesday there had not been a single confirmed case of coronavirus in the country. Mirza, while briefing Senate Standing Committee on National Health Services Regulations and Co
Published 13 Feb, 2020 12:00am
Country has entered period of stagflation: IMF team told

Country has entered period of stagflation: IMF team told

The International Monetary Fund (IMF), while expressing concern over the Federal Board of Revenue's (FBR's) performance, has suggested harmonization of general sales tax (GST), creating fiscal space for increasing spending on sustainable development goals
Published 13 Feb, 2020 12:00am
Hafeez lays bare grim facts about economy

Hafeez lays bare grim facts about economy

The Advisor to the Prime Minister on Finance Dr Abdul Hafeez Sheikh on Wednesday criticised the opposition lawmakers in National Assembly for their 'unfair criticism' on the government's 'tough' economic policies. Speaking on a motion on the economic cond
Published 13 Feb, 2020 12:00am
July-January remittances exceed $13 billion

July-January remittances exceed $13 billion

Inflows of home remittances crossed $13 billion mark during first seven months of this fiscal year (FY20). The State Bank of Pakistan (SBP) Wednesday reported that overseas Pakistani workers remitted $ 13.302 billion during July to January of FY20 compare
Published 13 Feb, 2020 12:00am
KSE-100 Index crosses 40,000 level: BRIndex100 rallies
Stocks

KSE-100 Index crosses 40,000 level: BRIndex100 rallies

Despite foreign selling, Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of aggressive buying, mainly by local investors. BRIndex100 gained 93.58 points or 2.26 percent to close at 4,230.47 points. BRIndex100 touched intraday high
Published 13 Feb, 2020 12:00am
OPEC says coronavirus to trim 2020 oil demand, weighs output cut

OPEC says coronavirus to trim 2020 oil demand, weighs output cut

OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact. In a report, OPEC said 2020 demand for its crude
Published 13 Feb, 2020 12:00am
Hafiz Saeed jailed for terrorism financing

Hafiz Saeed jailed for terrorism financing

An anti-terrorism court Wednesday sentenced Jamatud Dawa (JuD) chief Hafiz Muhammad Saeed and his aide Malik Zafar Iqbal for five and half years Rigorous Imprisonment (RI) each in two cases of terrorism financing.
Published 13 Feb, 2020 12:00am
Government to back startups: PM

Government to back startups: PM

Prime Minister Imran Khan on Wednesday said with startups playing a key role in economic growth and financial inclusion, the government would facilitate talented entrepreneurs in transforming their innovative ideas into sustainable businesses.
Published 13 Feb, 2020 12:00am
Letter bombs hit Dutch firms in extortion bid

Letter bombs hit Dutch firms in extortion bid

A suspected blackmailer believed to have sent two letter bombs which exploded at offices in the Netherlands on Wednesday has demanded payment in bitcoins, Dutch police said. No one was hurt in the blasts in the mailroom of an ABN AMRO bank office in Amste
Published 13 Feb, 2020 12:00am
SC raises questions over appointment of PIA CEO

SC raises questions over appointment of PIA CEO

The Supreme Court on Wednesday questioned how a person who joined Pakistan International Airlines (PIA) on deputation could be appointed its chief executive officer (CEO). A three-member bench headed by Chief Justice Gulzar Ahmed heard Air Marshal Arshad
Published 13 Feb, 2020 12:00am
KCR be made fully operational within three months: SC

KCR be made fully operational within three months: SC

The Supreme Court on Wednesday directed the federal government to make Karachi Circular Railway (KCR) operational within one month, and ML-1 project fully operational within two years.
Published 13 Feb, 2020 12:00am
UK starts setting up 'first internet watchdog'
IT & Computers

UK starts setting up 'first internet watchdog'

The British government said Wednesday it planned to allow its broadcast regulator to police the internet and issue "substantial fines" when social media giants fail to remove online harms.
Published 13 Feb, 2020 12:00am
Daroo sends legal notice to FPCCI president, S-G

Daroo sends legal notice to FPCCI president, S-G

The controversy on nomination for the President of SAARC Chamber of Commerce and Industry is likely to land in court as the key affectee, former President FPCCI, Daroo Khan has sent a legal notice to incumbent President FPCCI, Anjum Nisar and Secretary-Ge
Published 13 Feb, 2020 12:00am
Tariq Pasha to become new FBR chief?

Tariq Pasha to become new FBR chief?

Former chairperson of the Federal Board of Revenue (FBR) and secretary Kashmir Affairs Tariq Pasha has emerged as front-runner for the position of FBR chairmanship. It is learnt that Tariq Pasha worked as FBR chairperson from July 2017 to July 2018.
Published 13 Feb, 2020 12:00am
Sanders, Buttigieg emerge as frontrunners in Democratic race

Sanders, Buttigieg emerge as frontrunners in Democratic race

Bernie Sanders and Pete Buttigieg stepped forward Wednesday as undisputed frontrunners in the race to take on President Donald Trump in November after finishing first and second in the New Hampshire primary.
Published 13 Feb, 2020 12:00am
B2C transactions: SBP enhances payment limits against freelance services

B2C transactions: SBP enhances payment limits against freelance services

In order to broaden the scope of business-to-customer (B2C) transactions through legal channel, the State Bank of Pakistan (SBP) has enhanced payment limits against freelance services in computer and information systems and other freelance services from $
Published 13 Feb, 2020 12:00am
European envoys check India's 'loosening' of IOK clampdown

European envoys check India's 'loosening' of IOK clampdown

More than two dozen diplomats are visiting Indian-occupied Kashmir, New Delhi said on Wednesday, as the country tries to reassure foreign allies following several months of unrest in the contested territory.
Published 13 Feb, 2020 12:00am
WhatsApp defends encryption as it tops 2 billion users

WhatsApp defends encryption as it tops 2 billion users

The Facebook-owned messaging service WhatsApp said Wednesday it now has more than two billion users around the world as it reaffirmed its commitment to strong encryption to protect privacy.
Published 13 Feb, 2020 12:00am
Something is rotten in the state of Denmark!
Letters

Something is rotten in the state of Denmark!

Ailing Federal Board of Revenue (FBR) chairman Syed Shabbar Zaidi had appreciated the profundity of humungous Rs 5.5 trillion tax collection target for financial year 2019-20. Not only did prime minister Imran Khan express his full confidence in the compe
Published 13 Feb, 2020 12:00am
Restructuring of FBR - the only way forward!
Articles

Restructuring of FBR - the only way forward!

Due to inherent weaknesses in the Federal Board of Revenue (FBR), successive governments have tried to expand the tax base of the country, fix excessive scope of discretion and rent-seeking behaviour, eliminate corruption, tax evasion, complex and non-tra
Published 13 Feb, 2020 12:00am
All roads lead to Beijing
Articles

All roads lead to Beijing

There is one area where all are on the same page: Export growth. Everyone is for it. The trouble is not everyone reads the page the same way. How else do you explain the numbers? The tug of war within the government is quite apparent: the pious part promi
Published 13 Feb, 2020 12:00am
Ehsan's 'escape'

Ehsan's 'escape'

The issue of former Tehreek-i-Taliban Pakistan's (TTP's) spokesman Ehsanullah Ehsan's 'escape' from the custody of the security agencies resonated in both houses of parliament on February 10, 2020. In the National Assembly (NA), the issue was first raised
Updated 13 Feb, 2020 06:30am
Independent foreign policy dependent upon economic stability

Independent foreign policy dependent upon economic stability

Foreign Minister Shah Mehmud Qureshi during his lecture on "Strategic Importance of Economic Diplomacy for Pakistan in the Twenty First Century" highlighted a home truth repeatedly articulated by the founding Editor of Business Recorder the late M
Updated 13 Feb, 2020 06:30am
SSGC arrests two gas thieves

SSGC arrests two gas thieves

In the continuity of gas theft operation SSGC has arrested 2 more gas thieves. Recently, a raid was conducted at a hotel in Mehran Town, where the owner was accessing gas directly from distribution pipelines.
Published 13 Feb, 2020 12:00am
Agreement with IMF: Bilawal urges government to renegotiate conditions

Agreement with IMF: Bilawal urges government to renegotiate conditions

Pakistan People's Party (PPP) Chairperson Bilawal Bhutto-Zardari, while criticising the Pakistan Tehreek-e-Insaf (PTI) for "record inflation" and "borrowing" urged the government to re-negotiate the terms and conditions of its agreement with the Internati
Published 13 Feb, 2020 12:00am
Soomro briefed on status of to be privatised entities
Business & Economy

Soomro briefed on status of to be privatised entities

Federal Minister for Privatisation Mohammedmian Soomro chaired a meeting to review progress made so far in the privatisation of selected public sector entities (PSEs). Transaction managers, consultants and senior officials of the ministry attended the mee
Published 13 Feb, 2020 12:00am
US national's extradition: IHC reserves verdict in ICA

US national's extradition: IHC reserves verdict in ICA

The Islamabad High Court (IHC) on Wednesday reserved verdict in an intra-court appeal (ICA) against extradition of a US national of Pakistan origin, Talha Haroon, allegedly involved in hatching conspiracy to carry out terrorist activity in New York, to th
Published 13 Feb, 2020 12:00am
SCBA, PBC condemn NAB for summoning Bilawal

SCBA, PBC condemn NAB for summoning Bilawal

The Supreme Court Bar Association and the Pakistan Bar Council have condemned the call-up notice to Pakistan People's Party (PPP) Chairperson Bilawal Bhutto-Zardari by the National Accountability Bureau (NAB) summoning him in the fake accounts case.
Published 13 Feb, 2020 12:00am
NAB to file another corruption reference against Khaqan, others

NAB to file another corruption reference against Khaqan, others

The National Accountability Bureau (NAB) has started to further tighten the noose around former Prime Minister Shahid Khaqan Abbasi as the anti-graft body on Wednesday decided to file another corruption reference against him and others.
Published 13 Feb, 2020 12:00am
All-out efforts under way to resolve problems of businessmen: Firdous

All-out efforts under way to resolve problems of businessmen: Firdous

Special Assistant to Prime Minister on Information and Broadcasting Dr. Firdous Ashiq Awan on Wednesday said that government was mobilizing all available resources and channels to address the problems confronted by the business community the backbone of n
Published 13 Feb, 2020 12:00am
PIMA organises basic life support training sessions at 48 mosques

PIMA organises basic life support training sessions at 48 mosques

Pakistan Islamic Medical Association (PIMA) arranged as Basic Life Support (BLS) training sessions for the general public at 48 mosques across the county, said cardiologist and In-charge PIMA Lifesaving Project Dr. Habib Aslam Gaba.
Published 13 Feb, 2020 12:00am
SAP to support Pakistan's nationwide digital transformation plan

SAP to support Pakistan's nationwide digital transformation plan

SAP has underscored its Pakistan investment plan to support Digital Pakistan's nationwide digital transformation, diversified economic growth, and digital job creation, following a meeting between the Prime Minister Imran Khan and SAP Co-CEO Christian Kle
Published 13 Feb, 2020 12:00am
Senate panel expresses reservations over increase in Hajj package

Senate panel expresses reservations over increase in Hajj package

The Senate Standing Committee on Religious Affairs on Wednesday expressed serious reservations over the increase in Rs 105,000 in the government Hajj scheme package for 2020 The meeting chaired by Maulana Abdul Ghafoor Haideri directed the religious affa
Published 13 Feb, 2020 12:00am
Gold prices down by Rs 100

Gold prices down by Rs 100

Gold on Wednesday was traded for Rs 90350 per tola, down by Rs 100 on the local market, traders said. The yellow metal was available for Rs 77461 per 10 grams, down by Rs 85 and $1566 an ounce, down by $4. Silver was selling for Rs 1000 per tola, Rs 857.3
Published 13 Feb, 2020 12:00am
Senate body deliberates on numerical strength of Upper House

Senate body deliberates on numerical strength of Upper House

A Senate panel on Wednesday witnessed a general consensus on not bringing a cut in the numerical strength of the Upper House of the Parliament after eight members from the erstwhile Federally Administered Tribal Areas (Fata) retire - four on March 11, 202
Published 13 Feb, 2020 12:00am
National Women's Day: Need stressed for empowering country's women

National Women's Day: Need stressed for empowering country's women

Speakers at a seminar to mark the National Women's Day on Wednesday highlighted how the state repeatedly suppressed the women's struggle for their rights but stressed that success is something that is achieved over the time with continuous struggle and de
Published 13 Feb, 2020 12:00am
Murad for new traffic management plan to ease congestion

Murad for new traffic management plan to ease congestion

Sindh Chief Minister Syed Murad Ali Shah has said that the traffic jams and poor traffic flow on important roads in the city during rush hours is the manifestation of poor traffic planning and management, therefore a new plan to manage traffic in Saddar,
Published 13 Feb, 2020 12:00am
Whistle blower policy launched in TEVTA Punjab: chairman

Whistle blower policy launched in TEVTA Punjab: chairman

Technical Education and Vocational Training Authority (TEVTA) launches whistle blower policy under which complains regarding corruption, inefficiency and misconduct etc in TEVTA Institutions could be reported through social media, email or letter on which
Published 13 Feb, 2020 12:00am
Unique way to attract children in polio campaign

Unique way to attract children in polio campaign

A A Joyland (Pvt) Ltd has introduced an innovative idea to attract children in the recent polio eradication campaign. The company has joined hands with Pakistan Polio Eradication Programme under which they would hand over free vouchers of Aladin Amusement
Published 13 Feb, 2020 12:00am
Navy's maritime exercise 'SEASPARK-20' begins

Navy's maritime exercise 'SEASPARK-20' begins

Opening Ceremony of Pakistan Navy's major maritime exercise SEASPARK-20 was held at Karachi. The biennial exercise is steered to assess war preparedness & validate operational plans of Pakistan Navy in cognizance to emerging regional and global challenges
Published 13 Feb, 2020 12:00am
NICVD conducts certification & appreciation ceremony

NICVD conducts certification & appreciation ceremony

National Institute of Cardiovascular Diseases (NICVD) proudly conducted Certification and Appreciation Ceremony for its fellows. The ceremony was held on Wednesday. A total of 53 fellows were awarded certificates for successfully completing post-fellowsh
Published 13 Feb, 2020 12:00am
Minister pledges to make Helpline 1093 more effective

Minister pledges to make Helpline 1093 more effective

Sindh Minister for Information, Local Government, Housing, Town Planning, Religious Affairs, Forest & Wildlife, Syed Nasir Hussain Shah has said that HelpLine 1093 would be made more effective so that people having complaints against any of the institutio
Published 13 Feb, 2020 12:00am
PSQCA seals illegal cosmetics factory

PSQCA seals illegal cosmetics factory

PSQCA on Wednesday sealed an illegal cosmetics factory, seizing huge quantity of prepared stock in Khanpur. Special team of two officers raided the factory situated at Old Cinema Road Khanpur and found skin cream and shampoo of different brands were being
Published 13 Feb, 2020 12:00am
DGCV revises customs value of polyester filament yarn
Cotton & Textile

DGCV revises customs value of polyester filament yarn

Directorate General of Customs Valuation (DGCV) has revised the customs values of Polyester Filament Yarn (PFY) under sub-section (9) of the section 25 of the Customs Act, 1969.
Published 13 Feb, 2020 12:00am
Two multi-story buildings built on KCR route demolished

Two multi-story buildings built on KCR route demolished

Anti-encroachment teams of Pakistan Railways demolished two multi-story buildings which were 'illegally' built on the land of Karachi Circular Railway (KCR) near Gilani Railway Station in Gulshan-e-Iqbal during last two days, amid resistance from the occu
Published 13 Feb, 2020 12:00am
Youth valuable resource in journey towards development: Alvi

Youth valuable resource in journey towards development: Alvi

President Dr Arif Alvi on Wednesday said the world was looking towards an emerging Pakistan for its immense potential and called upon the nation to well-prepare itself to exploit the upcoming opportunities of prosperity.
Published 13 Feb, 2020 12:00am
PFA seals 12 eateries

PFA seals 12 eateries

The Punjab Food Authority (PFA) on Wednesday closed down four food businesses while carrying out an operation under the supervision of its Director General Irfan Memon against adulterators, unhygienic food points and food processing units in the area of P
Published 13 Feb, 2020 12:00am
Protests, sit-ins not in country's interest: Sarwar

Protests, sit-ins not in country's interest: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar has said that holding protest demonstrations or sit-ins are in no way in the country's interest when it is stabilizing economically.
Published 13 Feb, 2020 12:00am
CM terms Punjab's Ehsas plan a big step in right direction

CM terms Punjab's Ehsas plan a big step in right direction

Terming 'Ehsas Punjab Programme' as an important step towards fulfilling the agenda of change, Chief Minister Punjab Sardar Usman Buzdar on Wednesday said this programme would ameliorate a lot of common man by providing necessary assistance to the impecun
Published 13 Feb, 2020 12:00am
PSMA slams arrest of sugar dealers

PSMA slams arrest of sugar dealers

Pakistan Sugar Mills Association (PSMA) Punjab Chairman Nauman Khan has termed the government step of arresting sugar dealers as a very inappropriate step, especially when the commodity is available in abundance in the market.
Published 13 Feb, 2020 12:00am
Senate body rejects tax laws
Taxes

Senate body rejects tax laws

A meeting of the senate standing committee on finance has taken exception to the absence of adviser to prime minister on finance and secretary finance from the committee meeting.
Published 13 Feb, 2020 12:00am
Shifa International Hospitals Limited
Brief Recordings

Shifa International Hospitals Limited

Shifa International Hospitals Limited (PSX: SHFA) was established in 1987as a private limited company and became public in 1989. Currently it is present in two cities, two facilities in Islamabad and one in Faisalabad.
Updated 13 Feb, 2020 04:21am
US-Taliban breakthrough appears closer as Ghani reports progress

US-Taliban breakthrough appears closer as Ghani reports progress

The US and the Taliban appeared closer Wednesday to sealing a deal for an American troop withdrawal from Afghanistan, after Afghan President Ashraf Ghani reported "notable progress" in negotiations and a senior Taliban official said violence could be slas
Published 13 Feb, 2020 12:00am
Britain starts setting up 'first internet watchdog'

Britain starts setting up 'first internet watchdog'

The British government said Wednesday it planned to allow its broadcast regulator to police the internet and issue "substantial fines" when social media giants fail to remove online harms.
Published 13 Feb, 2020 12:00am
Four survive 32 days adrift in Pacific

Four survive 32 days adrift in Pacific

Four people survived a month adrift in the Pacific by eating coconuts and drinking rainwater in an ordeal that claimed the lives of eight of their companions, including a baby, reports said Wednesday. The group, from Papua New Guinea's Bougainville provin
Published 13 Feb, 2020 12:00am
NATO agrees to expand Iraq training mission

NATO agrees to expand Iraq training mission

NATO defence ministers agreed Wednesday to expand the alliance's training mission in Iraq, responding to US President Donald Trump's demand for more action from allies in the Middle East.
Published 13 Feb, 2020 12:00am
Indian police detain journalist covering citizenship protests

Indian police detain journalist covering citizenship protests

Indian authorities should drop their criminal investigation into journalist Mohammed Mubashiruddin Khurram and allow reporters to cover protests without fear of arrest or detention, the Committee to Protect Journalists said on Tuesday.
Published 13 Feb, 2020 12:00am
Turkey, Russia trade accusations as Syria tensions rise
Global Business Economy

Turkey, Russia trade accusations as Syria tensions rise

Turkey's president accused Russia of committing "massacres" in its support of the Syrian government on Wednesday, escalating a war of words as more Turkish reinforcements arrived on the ground.
Published 13 Feb, 2020 12:00am
China's new coronavirus cases drop, world still scared

China's new coronavirus cases drop, world still scared

China reported on Wednesday its lowest number of new coronavirus cases in two weeks, bolstering a forecast by Beijing's senior medical adviser for the outbreak there to end by April, but UN health authorities warned it could still "go in any direction".
Published 13 Feb, 2020 12:00am
Asia's gasoline rises on tight supplies
Energy

Asia's gasoline rises on tight supplies

Asia's gasoline crack rose for the fourth straight session on Tuesday to hover near a three-month high of $9.35 a barrel, as heavy refinery run cuts in China drove the value higher.
Published 13 Feb, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,152.
Published 13 Feb, 2020 12:00am
Canadian canola futures ease
Commodities

Canadian canola futures ease

ICE Canadian canola futures eased on Tuesday, with little firm direction, as traders focused on advancing positions to the next contract month.
Published 13 Feb, 2020 12:00am
Activities of Karachi Port and Port Qasim
Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 186,639 tonnes of cargo comprising 114,882 tonnes of import cargo and 71,757 tonnes of export cargo including 8,636 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 13 Feb, 2020 12:00am
CBOT wheat futures tumble to six-week low
Commodities

CBOT wheat futures tumble to six-week low

Chicago Board of Trade wheat futures tumbled on Tuesday, with the March contract hitting its lowest since December on signs of adequate global supplies and what appeared to be fund-driven long liquidation, traders said.
Published 13 Feb, 2020 12:00am
Trade-exposed units up in Asia
Money & Banking

Trade-exposed units up in Asia

Trade-exposed Asian currencies edged ahead on Wednesday, buoyed by optimism that the spread of coronavirus had slowed, while the kiwi leapt after the central bank dropped its easing bias.
Published 13 Feb, 2020 12:00am
Hedge funds spur dollar demand in Europe
Money & Banking

Hedge funds spur dollar demand in Europe

The dollar held near a four-month high on Wednesday on growing hopes the spread of the coronavirus had slowed, encouraging hedge funds to step up purchases of the relatively higher-yielding greenback.
Published 13 Feb, 2020 12:00am
Turkish lira weakens
Money & Banking

Turkish lira weakens

Turkey's lira weakened nearly 0.8% on Wednesday to its lowest point since last May, after President Tayyip Erdogan warned Syrian government forces against targeting more Turkish soldiers in northwestern Syria.
Published 13 Feb, 2020 12:00am
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