Sat, Dec 20, 2014, Safar 27,1436 A.H : Last updated 3 hours ago
 
 
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Javed Mirza
KARACHI: Banks stuffed their coffers with government’s long-term papers during the months of October and November 2014 and their exposures in Pakistan Investment Bonds (PIBs) have surged to Rs 2.522 trillion, the central bank data showed.
The ...
 
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Mehtab Haider
ISLAMABAD: The grey traffic monitoring system, installed with millions of dollars investment to detect illegal telecommunication, is rapidly becoming inefficient because of the government’s inability to update it, official sources said on Friday. ...
 
 
Mansoor Ahmad
LAHORE: Business analysts on Friday urged companies to digitise their processes to gain competitive advantage and improve connection among the sectors.
“Increasing digital capabilities will determine the creation or loss of value,” said Nabeel ...
 
 
News Desk
KARACHI: M. Zafar-u-Haq Hijazi has taken charge of the chairman of Securities and Exchange Commission of Pakistan (SECP) on Friday.
In his message to the SECP employees, Hijazi said he has accepted the responsibility with a determination and ...
 
 
News Desk
KARACHI: K-Electric plans to invest $2 billion, in addition to $1 billion it invested to boost its generation, transmission and distribution network, the company said in a statement on Friday.
It expressed its dismay at the allegations levelled ...
 
 

LONDON: The 40 percent plunge in oil prices since July, when Brent crude peaked at $115 a barrel, is almost certainly good news for the world economy; but it is surely a crippling blow for oil producers. Oil prices below $70 certainly spell trouble ...
 
 
our correspondent
KARACHI: Deputy High Commissioner of Bangladesh Ruhul Alam Siddique has said that Pakistan’s abundant resources coupled with exceptional talent can certainly do a lot for the economic progress and prosperity of this country, a statement said on ...
 
 
our correspondent
KARACHI: The State Bank of Pakistan (SBP) conducted open market operations (OMOs) on Friday to inject liquidity in both conventional and Islamic banking system, a bank statement said.
The central bank injected Rs586.85 billion in the ...
 
 
our correspondent
KARACHI: In solidarity with the victims of the Peshawar incident, Meezan Bank arranged a special Dua in Karachi at their Clifton Branch. A large number of the Bank staff joined the occasion and prayed for all those who had passed away in the ...
 
 
our correspondent
KARACHI: A local steel pipes producer is investing Rs150 million into the manufacturing of stainless steel, an announcement said on Friday.
International Industries Limited (IIL) has incorporated a 100 percent owned subsidiary, IIL Stainless ...
 
 

LOS ANGELES: Movie maker Lions Gate Entertainment Corp executives last summer tried to meet with Sony Corp CEO Kazuo Hirai to discuss a possible merger or acquisition, according to emails found in documents stolen by hackers.
Hirai eventually ...
 
 

SEOUL: Shares in Cheil Industries Inc, the de facto holding company of Samsung Group, doubled on its debut on Thursday in the latest in a series of steps toward generational succession for South Korea’s largest conglomerate.
Cheil is about 42 ...
 
 

DUBLIN: Dublin-based Shire Plc, whose proposed sale to AbbVie Inc fell apart in October, is considering an offer for U.S-based drug developer NPS Pharmaceuticals Inc, Bloomberg reported, citing people familiar with the matter.
NPS’s shares rose ...
 
 

FRANKFURT: The European Central Bank officials are considering ways to ensure weak countries that stand to gain most from a fresh round of money printing bear more of the risk and cost.
Officials, who spoke on condition of anonymity, have told ...
 
 

TOKYO: The Bank of Japan on Friday struck a more upbeat view of the world´s number three economy, saying exports were showing signs of picking up while factory output has started to “bottom out”.
The comments came as policymakers wrapped up a ...
 
 

SEOUL: The hacking attack on Sony Pictures may have been a practice run for North Korea’s elite cyber-army in a long-term goal of being able to cripple telecoms and energy grids in rival nations, defectors from the isolated state ...
 
 

NEW YORK: Government investigators fear the hackers behind the unprecedented attack on Sony’s Hollywood studio may never be caught if they are under the protection of North Korea, a US official said on Wednesday.
The law enforcement official, ...
 
 

MOSCOW: President Vladimir Putin assured Russians on Thursday that the economy would rebound after the ruble’s dramatic slide this year but offered no remedy for a deepening financial crisis.
Defiant and confident at a three-hour news ...
 
 
our correspondent
The Karachi Stock Exchange benchmark-100 Index gained 184 points on improved political and economic conditions, dealers said on Friday.
Ahsan Mehanti, an analyst at Arif Habib Corporation, said the equities closed higher led by selected stocks ...
 
 
Ken Hasegawa
Following the long and steep decline in oil prices,
we have seen some buying interest in recent days






—Commodity sales manager of Newedge ...
 
 

SAN FRANCISCO/SEATTLE: This spring, Taser International Inc won a small but high-profile contract to supply body cameras to the London police. But the deal nearly collapsed over one issue: where the video footage would be stored.
In the end, the ...
 
 
our correspondent
The rupee made an adjustment on Friday and shed eight paisas against the dollar, while the demand and supply remained in a comfortable position, a dealer said.
The rupee closed at Rs100.51/dollar in the interbank market against the last closing ...
 
 
LSE

Lahore Stock Exchange remained bearish on Friday, as the LSE-25 index declined by 15 points to close at 5,810 points, a dealer said.
Trading volumes also declined as compared to the volumes achieved a day ago, the dealer said.
Of the 86 ...
 
 
ISE

Bulls continued to dominate the Islamabad Stock Exchange on Friday, as the ISE-10 index gained 11.18 points to close at 3,781.20 points, traders said.
Of the 146 companies, which took part in the shares trading, 79 closed in the positive ...
 
 

Mari Petroleum remained the hot stock with an increase of Rs24.35 in its share price.
Mari’s 975,300 shares were traded, as it closed at Rs511.40 per share.
An analyst said the share price increased amid renewed interest of buyers as stocks ...
 
 

CHICAGO: The average price of Iowa farmland slumped 8.9 percent in 2014, the largest annual decline since 1986 as crop prices fell, according to the Iowa Land Value Survey released on Thursday.
It is only the second year since 1999 that the ...
 
 

Gold edged up above $1,200 an ounce on Friday as buyers helped the metal hold up against rising equity markets, paring losses fueled by worries over a looming hike in US interest rates.
A surge in gold prices to above $1,230 an ounce last week ...
 
 

Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year.
Oil prices were on track for a fourth straight week of ...
 
 
our correspondent
Karachi
The Karachi Cotton Association (KCA) revised up its official rate for cotton by Rs50 per maund (37.324 kilograms) to Rs4,750 per maund after price of the commodity increased at the local markets, a dealer said on Friday.
“Prices of ...
 
 


China has approved the import of a genetically modified corn strain it blocked last year, causing market turmoil, and has given clearance to biotech soybeans that had been waiting years for clearance, in a sign of improving relations with the ...