Wed, Jul 23, 2014, Ramdhan 24,1435 A.H : Last updated 1 hour ago
 
 
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Editor-in-Chief: Mir Shakil-ur-Rahman
 
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Mehtab Haider
ISLAMABAD: The upcoming telecommunication policy has envisaged that Pakistan Telecommunication Authority (PTA) and Competition Commission of Pakistan (CCP) will prepare a joint Memorandum of Understanding (MoU) to clarify their respective roles in ...
 
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Javed Mirza
KARACHI: The newly appointed managing director of Sui Southern Gas Company (SSGC), Shoib Warsi has called for revision in the unaccounted for gas (UFG) benchmark in the country.
Talking to The News on Tuesday, Warsi said that the international ...
 
 
Israr Khan
ISLAMABAD: The government intends to formally declare special economic zones in Karachi’s Bin Qasim and Korangi Creek areas, officials told The News on Tuesday.
The demarcation has already been approved by the Board of Investment (BoI) which has ...
 
 
Jawwad Rizvi
LAHORE: The Federal Tax Ombudsman (FTO) has termed Smuggled Vehicles Amnesty Scheme – 2013 a mega scam of Pakistan Customs history, in which billions of rupees were parked by the custom officials by regularising the smuggled vehicles on fake and ...
 
 
our correspondent
KARACHI: Habib Bank Limited (HBL) announced its second quarter results ended June 30 on Tuesday, announcing an interim cash dividend for the quarter at Rs2.25 per share, which is in addition to already paid Rs2 dividend, a statement said.
The ...
 
 
Salman Siddiqui
KARACHI: Agri Forum of Pakistan has differed with the government over cotton sowing data, saying that farmers have planted 6.8 million acres of cotton instead of government-claimed 7.2 million acres.
“Our findings suggest that the area of cotton ...
 
 

WASHINGTON: President Barack Obama and Vice President Joe Biden will put a spotlight on job-training programs on Tuesday as part of a White House push to boost economic opportunities for middle-class Americans, an important voting group in November ...
 
 
Mansoor Ahmad
LAHORE: Although the spinning industry is facing acute power and energy shortages, it registered the highest addition of spindles in the past six years, adding 546,000 spindles during 2013, according the International Textile Machinery Federation ...
 
 
our correspondent
LAHORE: The Federal Revenue Alliance Employees Union has threaten to go on strike for indefinite period following show-cause notice for dismissal of the FRA central President Mian Abdul Qayyum by the Federal Board of Revenue (FBR), a statement said ...
 
 

NEW YORK/SAN FRANCISCO: Apple, once a can’t-miss stock, is finding it tough to persuade portfolio managers to come back into the fold.
The company’s shares are up 17 percent for the year, nearly three times the performance of the benchmark ...
 
 
our correspondent
LAHORE: The Bank of Punjab is well on the path of progress and prosperity, as not only bank assets have reached Rs325 billion, but it has also recovered debts worth Rs4.5 billion in two years, according to a report on Tuesday.
According to the ...
 
 
our correspondent
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) will continue to strive for the creation of an enabling business atmosphere in the country, a statement said on Tuesday.
This was stated by LCCI Vice President Kashif Anwar, while ...
 
 

RIYADH/DUBAI: Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday.
The opening of the Saudi market, ...
 
 

MILAN: Italy’s data protection regulator has given Google 18 months to change the way it treats and stores user data, bringing to an end an investigation that is part of a European drive to reform the internet giant’s privacy ...
 
 

ZURICH: Credit Suisse Group AG reported its biggest quarterly loss since the peak of the financial crisis in 2008, the result of a 1.6 billion Swiss franc ($1.78 billion) settlement with US authorities over helping its clients evade taxes.
The ...
 
 
John Kemp
NEW YORK: Holders of Argentina’s defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds a way to solve its legal problems by the July 30 deadline.
But away from the ...
 
 

Reon Energy Solutions has recently completed a 125 kWp solar power installation commissioned by Wah Nobel Group of Companies. The inauguration of the project was held on July 14, 2014. Members of the higher management of both companies and senior ...
 
 

Managing Director SNGPL, Mr. M. Arif Hameed has issued orders to speed up the process of disconnecting industrial & commercial defaulting consumers in view of the orders given by Prime Minister, Mian Muhammad Nawaz Sharif to take strict action ...
 
 
our correspondent
KARACHI: The Karachi Stock Exchange benchmark 100-index dropped by 11.14 points on Tuesday on profit-taking, dealers said.
Mujtaba Barakzai, an analyst at JS Research, said the market witnessed reasonable activity, as the KSE-100 index dipped ...
 
 
John Hardy
It will be interesting to see how euro dollar trades into the CPI numbers
—Saxo Bank head of forex ...
 
 

SAN FRANCISCO: Yahoo Inc will buy mobile analytics startup Flurry to beef up a fast-growing mobile advertising business that still lags Google Inc’s and Facebook Inc’s in scale.
Six-year-old Flurry uses analytics to help target ads at consumers ...
 
 
our correspondent
The rupee remained firm against the dollar in the currency market on Tuesday, dealers said. In the interbank market, the rupee closed at 98.84 against the greenback from its previous closing of 98.83. Traders said that the forex market continued to ...
 
 
LSE

Bears dominated the trading at the Lahore Stock Exchange on Tuesday, as the LSE-25 index declined by 24 points to close at 5,481 points on little higher trading volume than the previous trading day, dealers said.
Of the 83 companies traded, the ...
 
 
ISE

Bears reappeared at the Islamabad Stock Exchange on Tuesday, as the ISE-10 index lost 7.98 points to close at 4,764.52 points, traders said.
Total turnover amounted to 3,000 shares as compared to the previous volume of 114,500 shares.
Of 132 ...
 
 

Pakistan State Oil remained the hot stock of the day with an increase of Rs4.77 per share.
PSO’s 1.93 million shares were traded in the market, as it closed at Rs401.87 per share.
An analyst said PSO witnessed renewed buyers’ interest on the ...
 
 

LONDON: Investors are slowly being drawn back into commodities, attracted by stronger global economic growth and more volatility within sub-sectors, typified by current investment flows out of grains into industrial metals.
The sector has been ...
 
 

Singapore
Gold eased on Tuesday as Asian shares gained strength but the metal continued to stay above $1,300 an ounce as escalating tensions over conflicts in Ukraine and the Gaza strip burnished the metal’s safe-haven appeal.
Spot gold ...
 
 

Singapore
Brent crude held steady above $107 a barrel on Tuesday, supported by escalating geopolitical tension over Ukraine and expectations of large draws in US oil stockpiles.
Speculators mostly kept to the sidelines, with light volumes ...
 
 
our correspondent
Karachi
Trade turnover of cotton surged to around four-month high of 9,600 bales (155 kilograms each) at the open markets in Pakistan after price of the commodity fell to Rs6,000 per maund (37.324 kilograms), a dealer said on Tuesday.
“Price ...
 
 

London
Zinc and aluminium prices hit their highest in more than a year on Monday as investors sought exposure to commodities with improved fundamentals, but copper’s gains were curbed by worries over China’s property sector and over a build-up ...