Tue, Sep 30, 2014, Zul.Hajj 04,1435 A.H : Last updated 1 hour ago
 
 
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Editor-in-Chief: Mir Shakil-ur-Rahman
 
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Mansoor Ahmad
LAHORE: Businessmen sought on Monday the removal of nontariff barriers in India, which militate against any tariff concessions on exports from Pakistan.
They said while India has provided most favoured nation (MFN) to Pakistan, it has erected ...
 
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Shahnawaz Akhter
KARACHI: Senior officers of Inland Revenue have expressed concern over the manual refund system, saying it may lead to another financial scam, as the Federal Board of Revenue (FBR) has given discretionary powers at the commissioner and below level ...
 
 
our correspondent
LAHORE: Pakistan Sugar Mills Association (PSMA) Punjab Zone on Monday unanimously elected Javed Kayani as Chairperson of the association for the next term at the general meeting.
Ch Muhammad Aslam, and Muhammad Shakeel were elected as Executive ...
 
 

NEW YORK: Pimco is moving away from a founder-led model and the $2 trillion asset manager’s flagship fund, formerly run by co-founder Bill Gross “does not define Pimco,” CEO Doug Hodge said on Sunday.
“Over the last five years, we have expanded ...
 
 
our correspondent
KARACHI: Gul Ahmed Textile Mills Limited (GATM) announced its full-year FY14 result on Monday, posting net profit-after-tax of Rs1.23 billion (earnings per share of Rs6.75), up 65 percent as compared to Rs711 million (EPS of Rs4.09) in FY13, a ...
 
 

WASHINGTON: One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the US government’s rescue of American International Group Inc was, in fact, legal.
In a ...
 
 

TOKYO/NEW YORK: Japan’s SoftBank Corp is in talks to acquire DreamWorks Animation SKG, the Hollywood studio behind the “Shrek” and “Madagascar” movie hits, a person with knowledge of the situation said.
An acquisition of DreamWorks by SoftBank ...
 
 
our correspondent
KARACHI: The Association of Builders and Developers of Pakistan (Abad) has constituted a police liaison committee to deal with the cases of fraud, theft, kidnapping, land grabbing and encroachment, said a statement on Monday.
All actions taken ...
 
 
our correspondent
KARACHI: Tameer Micro Finance Bank and Telenor Pakistan joint venture announced on Monday allows free money transfer facility between Easypaisa mobile account holders.
Easypaisa transactions amounted to nearly one percent of Pakistan’s GDP in ...
 
 
News Desk
ISTANBUL: General Electric (GE) on Monday unveiled a roadmap to unlock the growth potential of the Middle East, North Africa and Turkey (MENAT) region.
At the special meeting of the World Economic Forum ‘Unlocking Resources for Regional ...
 
 
our correspondent
LAHORE: Federal Textile Minister Abbas Khan Afridi said that the new textile policy has been finalised and would be announced immediately after Eid. The policy would address the zero rating issue of exports and exporters’ refunds, he added while ...
 
 

BRUSSELS: The European Commission will publish on Tuesday its reasons for opening an in-depth inquiry into the Irish government’s tax treatment of Apple, a Commission spokesman said.
The European Union’s competition watchdog is looking at ...
 
 

NEW YORK: Allergan’s attempt to ward off a precedent-setting joint bid by the Canadian pharmaceutical company Valeant and the hedge fund Pershing Square continues to remake the rulebook for hostile takeovers.
On Monday, US District Judge David ...
 
 

ZURICH: UBS said on Monday it was launching a share-for-share exchange to set up a new holding company, UBS Group AG, part of a restructuring drive to ensure it can be broken up more easily in a crisis.
Switzerland’s largest lender said back in ...
 
 

New Delhi: Penn Schoen Berland (PSB), a Global ‘Research based Strategic Communication and Corporate Affairs Advisory’ will be the Knowledge Partner for the second edition of SOUTH ASIA CONCLAVE to be held at Lahore, Pakistan from November 20-22, ...
 
 

WASHINGTON: Rising incomes helped American consumers spend more in August, a positive sign for the US economy which appears to be shifting into a higher gear.
The Commerce Department said on Monday consumer spending rose 0.5 percent last month ...
 
 

KARACHI: World Rabies Day is being celebrated in nearly 80 countries worldwide. Rabies is one of the deadliest tropical diseases since known history of mankind. According to an estimate rabies kills one person in every ten minutes.Various ...
 
 
our correspondent
KARACHI: The Pakistan Telecommunication Authority (PTA) in its ongoing efforts to control grey trafficking unearthed illegal gateway exchanges in Chichawatni and Harappa, a statement said on Monday.
Successful operations against the grey ...
 
 
our correspondent
The Karachi Stock Exchange (KSE) benchmark 100-Index fell by 323 points on Monday with low volumes amid political uncertainty, dealers said.
Ovais Ahsan, an analyst at JS Research said the trend remained bearish with volumes relatively low at 91 ...
 
 
James Hughes
The strength of the dollar is forcing investors to move away from a lot of the stock market assets and put it into the greenback
—Chief market analyst at ...
 
 

BEIJING: Lenovo Group Ltd will close its acquisition of International Business Machines Corp’s (IBM) x86 server division on Oct 1 for $2.1 billion, giving the Chinese tech firm the firepower to win business clients from US rivals.
The closing ...
 
 
our correspondent
The rupee gained 14 paisas against the dollar on Monday, as the central bank lends support to the fragile local currency, dealers said.
The rupee closed at Rs102.61 per dollar in the interbank market against the last closing of Rs102.75 per ...
 
 
LSE

Trading at the Lahore Stock Exchange opened on a negative note, as the LSE-25 index lost 145 points to close at 5,143 points on higher trading volumes, dealers said.
Of the 90 companies traded during the day, the value of three enhanced, 29 ...
 
 
ISE

Bears continued to dominate the Islamabad Stock Exchange on Monday, as the ISE-10 index lost 69.52 points to close at 4,351.29 points, traders said.
Total turnover amounted to 31,064 shares as compared to the previous volume of 154,500 ...
 
 

Oil and Gas Development Company Ltd remained the hot stock with a decline of Rs4.32 in its share price. OGDCL’s 522,400 shares were traded, as it closed at Rs245.60 per share. An analyst said the share price declined, as investors express concerns ...
 
 

SINGAPORE: Pioneer Natural Resources plans to double its US exports of condensate, an ultra-light oil, to 50,000 barrels per day (bpd) next year, its chief executive said on Monday.
The US shale resources explorer, along with Enterprise Product ...
 
 

Gold extended losses to a second session on Monday, dropping towards a nine-month low, as robust US economic data and a stronger dollar curbed demand for the safe-haven metal.
Spot gold slipped 0.1 percent to $1,217.57 an ounce by 0032 GMT, ...
 
 

Brent crude oil fell below $97 a barrel on Monday, moving closer to a two-year low hit last week as weak data from major buyer China and a stronger US dollar added to pressure from strong supplies. The international oil benchmark has fallen from ...
 
 
our correspondent
Karachi
The Karachi Cotton Association (KCA) revised up its cotton spot rate by Rs50 per maund (37.324 kilograms) to Rs5,100 per maund after price of the commodity was seen recovering at the local open markets, a dealer said on Saturday.
“The ...
 
 

Chicago corn was little changed on Monday around a five-year low while soybeans dropped to their lowest since early 2010 as ideal weather across key US growing regions allowed farmers to rapidly harvest record crops.
Wheat slid on plentiful ...