Sat, Apr 19, 2014, Jumadi-al-Sani 18,1435 A.H : Last updated 1 hour ago
 
 
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Editor-in-Chief: Mir Shakil-ur-Rahman
 
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Salman Siddiqui
KARACHI: Over 15 flourmills have stopped producing flour in the last couple of days since the Sindh Food Department is diverting all the trucks carrying wheat to its warehouses instead of flour factories, sources said on Friday.
“Some 20 percent ...
 
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Shahnawaz Akhter
KARACHI: The Federal Board of Revenue (FBR) has expanded the scope of investigation to determine the stock position of corporate entities by deploying tax officials at the production facilities, official sources said on Friday.
The officials ...
 
 
our correspondent
KARACHI: Atif R Bokhari has resigned as president and chief executive officer of the United Bank Limited (UBL), said a press release on Friday.
He served on the positions for 10 years, it said.
A notice sent to the Karachi Stock Exchange ...
 
 
Mehtab Haider
ISLAMABAD: A foreign company became victim to the tax machinery after it was denied refunds after passage of 13 years, official sources said on Friday.
The Federal Board of Revenue (FBR) filed representation before the president of Pakistan ...
 
 
Khalid Mustafa
ISLAMABAD: Financial Advisers for the first batch of prospective capital market transactions of the Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and United Bank Limited (UBL) will be appointed by April ...
 
 
Munawar Hasan
LAHORE: Rainfall in Central Punjab in particular, and adjoining divisions in general, has dampened wheat harvesting, sparking fear of loss to the tune of about 0.2 million – 0.4 million tonnes, as per the provincial agriculture department.
The ...
 
 
our correspondent
Kapco earns profit of Rs2.4bn
KARACHI: Kot Addu Power Company (Kapco) announced its third quarter FY14 results on Friday, posting earnings of Rs2.4 billion (earnings per share of Rs2.69), up by 20 percent on year-on-year basis as compared to the ...
 
 

NEW YORK: Goldman Sachs Group Inc reported an 11 percent drop in quarterly profit as client activity remained constrained and fixed-income revenue shrank, but both earnings and revenue beat market estimates and the Wall Street bank’s shares ...
 
 
Erum Zaidi
KARACHI: The investments of banks in Pakistan Investment Bonds (PIBs) climbed staggering 105 percent to Rs1.52 trillion in the first quarter of this calendar year (Jan-Mar 2014), showed the data by the State Bank of Pakistan (SBP) on Friday. ...
 
 
our correspondent
KARACHI: Pak Suzuki launches 1000cc Suzuki Wagon-R in Pakistan by customising it in accordance with the local environment and rules and regulations.
This was announced by Pak Suzuki General Manager Azam Faraz at the launching ceremony of its new ...
 
 
Javed Mirza
KARACHI: The management of Pakistan International Airlines (PIA) in a strange bid has disbanded the Way Forward Committee, which brought remarkable results in saving revenue, pointing out corruption and loopholes, an official said on Friday.
The ...
 
 
our correspondent

KARACHI: Ismail Suttar, president of the Lasbela Chamber of Commerce and Industry, on Friday stressed upon the authorities for completion of the second lane of Lyari Expressway in a shortest possible time, as it has taken a long time since the ...
 
 
our correspondent
LAHORE: Asking for compensatory rebate, the acting of chairman PIAF, Khamis Saeed Butt, said on Friday that the over 10 percent depreciation of dollar in less than 30 days put the survival of many exporters at stake.
Butt said that the ...
 
 
News Desk
KARACHI: A workshop was conducted in Lahore on April 14 and 15 by FranklinCovey Pakistan on the topic of 7 Habits of Highly Effective People, which is the largest selling workshop in the world.
The workshop trains top executives on how to ...
 
 
News Desk
ISLAMABAD: US Ambassador to Pakistan Richard Olson said on Friday that the officials of the United States Trade and Development Agency would visit Pakistan to make close cooperation in the field of aviation.
He said this during a meeting with ...
 
 
Anna Louie Sussman
NEW YORK: Wall Street banks have mounted a massive legal defense of their physical commodities activities, in a last-ditch effort to convince regulators that chartering oil tankers and owning power plants pose no risk to the financial system.
In ...
 
 
our correspondent
KARACHI: The recent decision of the Economic Coordination Committee (ECC) of the Cabinet to withdraw five percent duty exemption on import of cotton yarn has sounded alarm bells and death knell for the value-added textile exports, said M Jawed ...
 
 

Karachi: The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) recently held a meeting to approve its financial statements for the year ended December 31, 2013. DIBPL is a fully owned subsidiary of Dubai Islamic Bank UAE, the ...
 
 
David Lawder
WASHINGTON: President Barack Obama’s fiscal 2015 budget request would boost US tax revenue by nearly $1.4 trillion over 10 years if fully enacted, cutting deficits by $1.05 trillion while funding new spending, the Congressional Budget Office said ...
 
 

ISLAMABAD: Mobilink haslaunched Pakistan’s first “Phone Trade Program” enabling its customers to exchange their old cell phoneswith the latest 3G supported smart phones of their choice by paying the differential cost. The program is aimed ...
 
 

Islamabad: Ufone once again announced the launch of ShahCar Offer 2014. With this mega offer, 20 lucky Ufone customers will get a chance to win 20 brand new Toyota Corolla (via lucky draw). Keeping its tradition, Ufone always takes pride to lead ...
 
 
Paul Ryan
The report shows that Obama’s budget plan keeps getting worse because of the tax and spending increases it proposes
—The US House Budget Committee ...
 
 
our correspondent
The Karachi Stock Exchange benchmark 100-index closed lower by 280.41 points on Friday to 29,069.93 points on profit-taking by foreign investors, dealers said.
Muhammad Sibtain Mustafa, an analyst at Elixir Securities, said the KSE-100 index ...
 
 

NEW YORK: Google Inc’s disappointing first-quarter results left Wall Street unfazed about the internet giant’s ability to come to grips with the shift to the fast-growing mobile advertising market.
Google shares were down about 3 percent in ...
 
 
our correspondent
KARACHI: After remaining at the level of 96 for almost a week, the rupee started its downside journey, as it closed at 97.55 against the dollar in the interbank market on Friday, dealers said.
Forex dealers said the local currency came under ...
 
 
LSE

Bearish trend was witnessed at the Lahore Stock Exchange on Friday, as the LSE-25 index went down by 54.56 points to close at 5,514.93, points, dealers said.
Trading at the LSE started with selling pressure and the index took nosedive from start ...
 
 
ISE

Bears dominated the Islamabad Stock Exchange on Friday, as the ISE-10 index lost 68.56 points to close at 4,571.44 points, traders said.
Total turnover amounted to 46,800 shares as compared to the previous volume of 1,768,200 shares.
Of 156 ...
 
 

Attock Cement remained the hot stock of the day with an increase of Rs3.27 in its share price.
Attock Cement’s 193,800 shares were traded, as it closed at Rs151.06 per share.
An analyst said that Attock Cement got buyers interest despite ...
 
 
our correspondent
Flourmills operating in Sindh have increased price of flour by Re1 per kilogram to Rs38.5 per kilogram (ex-factory) in the aftermath of surge in the wheat support price by the provincial government, an office-bearer of the Pakistan Fluor Mills ...
 
 


Gold fell for a second session out of three on Thursday on higher equities and as the world’s biggest gold-backed fund saw its sharpest outflow in nearly four months.
Bullion fell nearly 2 percent on Tuesday to its lowest in 1-1/2 weeks on ...
 
 

Brent oil steadied above $109 a barrel on Thursday, trading not far from a six-week high, as rising tensions in Ukraine kept the geopolitical risk premium on crude prices intact, while an upbeat view on US and Chinese demand was also ...
 
 
our correspondent
Karachi
The government’s decision to withdraw exemption of five percent duty on import of cotton yarn has failed to pick up trade activities at the local cotton markets, a dealer said on Friday.
Traders exchanged mere 1,009 bales (155 ...
 
 

Indian guar seed futures ended down on profit-taking for the second day in a row after rallying on reports of dwindling global stocks, and are likely to open lower in the next session.* Guar prices failed to hold at higher levels, said Ajitesh ...