Thu, Apr 24, 2014, Jumadi-al-Sani 23,1435 A.H : Last updated 1 hour ago
 
 
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Editor-in-Chief: Mir Shakil-ur-Rahman
 
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Shahnawaz Akhter
KARACHI: The government will try to meet the mandatory requirements of the first review of European Union for GSP+ facility and compliance with 27 conventions, which will begin from January 2016, Federal Commerce Minister, Engineer Khurram Dastagir ...
 
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Javed Mirza
KARACHI: The Pakistan Business Council (PBC) has identified 1,177 items for which Pakistan and India could seek preferential treatment for each other.
In a study, the PBC has spotted 419 items Pakistan could export to India and 758 items India ...
 
 
Shahid Shah
KARACHI: The Karachi Stock Exchange (KSE) on Wednesday invited suggestions of brokers on negotiated deals, which were partially restricted by the Securities and Exchange Commission of Pakistan (SECP) this month.
Sani-e-Mehmood Khan, general ...
 
 
Salman Siddiqui
KARACHI: Despite passage of the 72-hour deadline given by Finance Minister Ishaq Dar on April 21 to bring down price of potatoes at Rs30 per kilogram at the retail market, traders are still selling the vegetable at higher rates, according to a ...
 
 
our correspondent
ISLAMABAD: Finance Minister Ishaq Dar expressed hope on Wednesday that the government will seriously consider the issuance of Islamic bonds soon.
The finance minister expressed the hope during a meeting with the joint lead managers, consisting ...
 
 
our correspondent
ISLAMABAD: The Department for International Development (DFID) of UK pledged on Wednesday 76 million British Pounds as seed money for providing financing facilities to the small and medium enterprises.
The fund may increase up to 200 million ...
 
 
our correspondent
Engro Fertilizer earns profit of Rs1.4 billion
KARACHI: Engro Fertilizers (EFERT) announced on Wednesday first quarter 2014 profit of Rs1.4 billion, translating into earnings per share of Rs1.1 as compared to Rs0.6 billion (EPS of Rs0.5) in the ...
 
 
Mehtab Haider
ISLAMABAD: Pakistan has lost six notches and stood at 111th position of the 148 countries in terms of ranking on Global Information Technology Report 2014, the World Economic Forum (WEF) announced on Wednesday.
At the rank of 111 among 148 ...
 
 
Munawar Hasan
LAHORE: The use of liquefied natural gas (LNG) for power generation will reduce the energy cost for consumers and burden of subsidies being borne by the government, suggested the latest official data available with The News on Wednesday.
This ...
 
 
our correspondent
KARACHI: With the World Intellectual Property Day to be observed globally on April 26, the Overseas Investors Chamber of Commerce and Industry (OICCI) urged the government on Wednesday to show demonstrable support for protection of intellectual ...
 
 
our correspondent
KARACHI: GE supplied and installed two GE 9FA gas turbines and associated auxiliary equipment for the power plant inaugurated by Prime Minister Nawaz Sharif at the Guddu Thermal Power Complex, a statement said on Wednesday.
Located in Kashmore, ...
 
 

NEW YORK: Rising jet production helped Boeing Co post a 14 percent rise in adjusted net profit in the first quarter, beating estimates, and the company notched up its full-year forecast.
On a non-adjusted basis, however, Boeing’s profit slid 13 ...
 
 
News Desk
ISLAMABAD: Pakistan Telecommunication Company Limited on Wednesday held its 19th Annual General Meeting (AGM) in Islamabad.
PTCL Board Chairman Akhlaq Ahmed Tarar said on the occasion, “On behalf of PTCL board members, I thank our shareholders ...
 
 
our correspondent
KARACHI: Vice Admiral Shafqat Jawed has taken charge as the 31st chairman of the Karachi Port Trust (KPT) on Wednesday, a statement said.
Having a vast experience of Navy and marine operations, he is all set to steer the port to achieve goals ...
 
 
our correspondent
LAHORE: The Pakistan Industrial and Traders Associations Front (PIAF) on Wednesday urged the business community to initiate joint ventures with their Turkish counterparts. PIAF chairman Malik Tahir Javaid said that that during his recent visit to ...
 
 

BERLIN: Germany’s private sector expanded faster in April, recovering from a slight slowdown in growth in March, as both manufacturing and services industry activity rose more than expected, surveys showed on Wednesday.
Markit’s preliminary ...
 
 
our correspondent
LAHORE: A new training programme on citrus production and citrus processing has been launched with foreign collaborators to boost the fruit’s export.
According to an official of Pakistan Horticulture Development and Export Company (PHDEC), ...
 
 
our correspondent
KARACHI: After a long debate among the industry, importers and the Federal Board of Revenue (FBR), the government raised the import trade price (ITP) on tyres to 20 percent from three percent, The News learnt on Wednesday.
However, a tyre ...
 
 
Mansoor Ahmad
LAHORE: Civil society activists regret on Wednesday that the massive adulterations in foods, which cause bad impact on consumers’ health, are being ignored.
They regret that poorer segment of the society in the country consume adulterated food ...
 
 
our correspondent
The Karachi Stock Exchange benchmark 100-index closed lower by 474.65 points on Wednesday to 28,717 points on institutional selling, dealers said.
Ahmed Hanif, an analyst at KASB Research, said the index gave a spike on the opening but then ...
 
 


It’s pretty encouraging considering what we have seen for years. We are looking at
0.5 percent quarter-on-quarter GDP growth if we continue to see
this level
—Chief economist at ...
 
 

MIAMI: Vevo, the online music video hub that is a joint venture of two of the world’s biggest music labels, has seen a nearly 50 percent increase in the number of music videos streamed each month from its platform, the company’s top executive said ...
 
 
our correspondent
The rupee tracked nominal slides against the dollar in the interbank market on Wednesday, dealers said. At the commencement of the trade, the rupee was exchanged at the rate of 98.5 with a high of 98.15 and the low of 97.90. It closed at 98.05 ...
 
 
LSE

The Lahore Stock Exchange suffered heavy losses on Wednesday, as the LSE-25 index lost 99 points to close at 5,390 points, dealers said.
Trading volumes were lower than the volumes recorded on the last trading day, the dealers said.
Of the 99 ...
 
 
ISE

Bears reappeared at the Islamabad Stock Exchange on Wednesday, as the ISE-10 index lost 45.67 points to close at 4,504.46 points, traders said.
Total turnover amounted to 113,600 shares as compared to the previous volume of 276,500 shares.
Of ...
 
 

MCB Bank Limited remained the hot stock with a drop of Rs5.57 in its share price.
MCB’s 664,000 million shares were traded, as it closed at Rs278.24 per share.
An analyst said that MCB witnessed selling pressure despite announcement of better ...
 
 

Gold was steady but near its lowest in more than two months on Wednesday, with stronger equities denting the metal’s safe-haven appeal and outflows from bullion funds showing weak investor appetite.
The metal was also weighed down by US data ...
 
 


Brent futures held above $109 a barrel on Wednesday with the global demand growth outlook largely unchanged after a Chinese manufacturing survey showed an easing pace of decline, while the unfolding Ukraine crisis kept any losses in check.
A ...
 
 
our correspondent
Karachi
Trade turnover of cotton improved to two weeks high of 4,800 bales (155 kilograms each) at the local markets after exporters rejoined the markets, a dealer said on Wednesday.
“The return of exporters to the markets helped improve ...
 
 

US corn edged lower on Wednesday on expectations US plantings could speed up following a sharp rise in corn futures a day earlier as the sowing pace fell below market expectations.
Wheat dipped on favourable US crop weather, while soybeans slid ...
 
 
our correspondent
Flourmills continue strike
Some 81 flour mills located in Karachi remained closed on second working day on Wednesday in protest against alleged demand of bribe by officials of the provincial government for allowing movement of trucks carrying ...