Thu, May 28, 2015, Shaban 09, 1436 A.H : Last updated 1 hour ago
 
 
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Hina Mahgul Rind
KARACHI: Government has allocated Rs45 million to set up a seafood certification facility at Gwadar seaport to speed up fisheries exports from the port, a minister said on Wednesday.
“Marine Fisheries Department (MFD) will set up its regional ...
 
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Mehtab Haider
ISLAMABAD: The Tax Reform Commission (TRC) has asked the government to abandon FBR’s IT arm-Pakistan Revenue Authority Limited (PRAL) and come up with a new entity having an independent board comprising of nine professionals.
The PRAL was ...
 
 
our correspondent
KARACHI: Government’s short-term borrowing costs further declined on Wednesday when the central bank sold Rs91 billion worth of treasury bills at an auction, surpassing the original Rs75 billion target with yields falling on all maturities. ...
 
 
our correspondent
KARACHI: International Monetary Fund (IMF) has found the economic growth rate of Pakistan not enough to create more employment, its official said on Wednesday.
Although Pakistan’s GDP growth improved to 4.1 percent it was not as fast as was ...
 
 
Salman Siddiqui
KARACHI: The International Monetary Fund (IMF) on Wednesday asked the management of Pakistan Steel Mills (PSM) how it will use the new bailout package, a PSM official said.
The IMF delegation, during a meeting with the PSM chief executive ...
 
 
Shahid Shah
KARACHI: Gas cess will double the cost of doing business without contributing to any development, a leading businessman said.
“Industries don’t have basic infrastructure, which will bring Pakistan’s exports down in the coming days,” said ...
 
 
Mansoor Ahmad
LAHORE: The reason that governments fail to achieve the annual budgetary targets is that no strategy is in place and the core team of strategists do not meet and plan on a frequent basis, experts said on Wednesday.
They said the annual planning ...
 
 
our correspondent
KARACHI: It is time the government should revive ‘No payment no refund’ regime for the five export-oriented sectors as the cost of production has increased, resulting in decline in textile exports, a leading exporter said on ...
 
 
our correspondent
KARCHI: JS Bank sponsored Management Conversations day 2015, bringing many great thinkers to one platform, enabling them to debate and shares their views regarding the future of Pakistan.
The event was held at Marriott Hotel Karachi and around ...
 
 
our correspondent
KARACHI: Hawa Foundation and Focus Humanitarian Pakistan have provided first aid kits and fire extinguisher kits in six of the schools run by Engro Fertilizers and gave trainings to the teachers, a statement said on Wednesday.
Engro Fertilizer ...
 
 
our correspondent
KARACHI: Zong on Wednesday won the award for the Best 3G & 4G network at the Consumer Choice Awards 2014-15 held at a local hotel.
Zong has made a huge name in data services over the period of only one year. Currently, Zong’s 3G networks are ...
 
 

SEOUL: South Korea’s Hyundai Motor said on Wednesday it has become the first carmaker to offer Google’s Android Auto system in its Sonata model sold in the US market.
The company said US Android smartphone users with a 2015 Sonata sedan can now ...
 
 
our correspondent
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Export-Import Bank of the United States (EXIM) would work together to ensure an integrated approach to facilitate traders in Pakistan.
EXIM Bank Vice President of Global Business ...
 
 
Jawwad Rizvi
LAHORE: Sellers and distributors of cigarettes have created an artificial shortage ahead of the federal budget, anticipating an up to Rs20 increase per pack due to increased duties and taxes.
Where it is available, the sellers are overcharging ...
 
 
our correspondent
KARACHI: Pakistani entrepreneurs should visit foreign countries to explore business opportunities, Consul General of Switzerland in Karachi, Emil Wyss said at a dinner hosted in his honour by Korangi Association of Trade and Industry (KATI) ...
 
 

Karachi: The launching ceremony S.M.Jaffer & Co.’s new generator series FG Wilson F-series Generator was held in a local hotel. Mr. Amin A. Feerasta - Chief Operating Officer Soneri Bank was the chief guest on the occasion.
Speaking on the ...
 
 

PARIS: Africa has long been the El Dorado just over the horizon for airlines, but sustained economic growth and the emergence of a middle class on the continent may finally clear the obstacles from the runway.
“Today, Africa accounts for just a ...
 
 

Lahore : Honda Atlas Cars (Pakistan) Ltd, organized a blood donation camp at its plant located in Lahore with the help of Fatimid Foundation. The drive was aimed at supporting Fatimid Foundation in its cause of meeting blood requirements for ...
 
 
our correspondent
Karachi stocks on Wednesday rebounded as government’s attractive growth targets and increased allocations for development for the next fiscal year renewed interest of investors in the leveraged shares.
Analyst Ahsan Mehanti at Arif Habib ...
 
 

No-one should have a false sense of confidence that they know what the result of a
crisis in Greece would be
—US Treasury Secretary ...
 
 

SAN FRANCISCO: The chief of vanishing-image service Snapchat said the company has a plan for going public with an offering of stock but did not reveal when it might happen.
“We need to IPO, we have a plan to do that,” chief executive officer ...
 
 
our correspondent
The rupee on Wednesday recovered its losses against the dollar, as the spell of volatility disappeared from the market, dealers said.
In the interbank market, the rupee ended 101.98 against the dollar, up two paisas from the previous closing of ...
 
 
ISE

The Islamabad Stock Exchange (ISE-10) on Wednesday experienced a bullish trend by gaining 7.76 points to close at 3,677.60 points, traders said.
Total turnover amounted to 89,600 shares as compared to previous volume of 20,000 shares.
Of ...
 
 

Pak Elektron was the hot stock of the day. Investors took fresh positions amid aggressive future plans revealed by the management. Pak Elektron gained 89 paisas to close at Rs 67.90/share.
DG Khan Cement also remained in focus as the cement ...
 
 

TOKYO: The dollar was sitting around eight-year highs against the yen on Wednesday following upbeat US data, while the euro came under further selling pressure over growing fears Greece will default on its debt obligations.
In Tokyo, the ...
 
 

London
European equity markets rose on Wednesday before a G7 finance meeting that will focus on Greece’s debt drama.
In mid-afternoon deals, London’s benchmark Financial Times Stock Exchang (FTSE) 100 index of top companies rose 0.62 percent ...
 
 

Singapore
Oil prices rose in Asia on Wednesday on bargain-hunting following sharp falls in the previous session triggered by a strong US dollar and continued concern over the global supply glut, analysts said.
US benchmark West Texas ...
 
 
our correspondent
Karachi
Trade turnover of cotton dropped 29 percent to 2,100 bales (of 155 kilogram), as many textile mill owners slowed buying in the absence of buying orders for cotton-yarn, a dealer said on Wednesday.
“The export of cotton yarn remained ...
 
 

Hong Kong
Asian markets sank on Wednesday following a big sell-off on Wall Street, with Tokyo hit by profit-taking after an eight-day rally while fears that Greece will default on its debt obligations dragged the euro down.
An upbeat batch of ...
 
 
LSE

Bullsreappearedatthe equitymarketonWednesday asLahoreStockExchange (LSE) 25-share index increasedby7.44pointstoclose at 5,503points.
Out of 99 companies traded, the value of 23 shares increased, five companies suffered losses and there was no ...