Fri, Oct 24, 2014, Zul.Hajj 28,1435 A.H : Last updated 2 hours ago
 
 
Group Chairman: Mir Javed Rahman

Editor-in-Chief: Mir Shakil-ur-Rahman
 
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our correspondent
KARACHI: The book building exercise for the sale of 10 percent stake of the Oil and Gas Development Company Limited (OGDCL) would start in the first week of November soon after Muharram holidays, Minister of State for Privatisation Muhammad Zubair ...
 
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Mehtab Haider
ISLAMABAD: The country’s budget deficit remained within the envisaged limits at Rs357 billion, or 1.2 percent of GDP during the first quarter (July-September) of the current financial year.
After clubbing fourth and fifth review together under ...
 
 
Shahnawaz Akhter
KARACHI: Ghalib Ali Bandeshah, director general of the Federal Investigation Agency (FIA), on Thursday said the authority has recovered Rs13 billion for the national exchequer during the last one year.
Addressing the members of Korangi ...
 
 
our correspondent
KARACHI: The total liquid foreign exchange reserves held by the country increased by 0.21 percent to $13.464 billion for the week ended October 17, the central bank reported on Wednesday.
During the week under review, the central bank made ...
 
 

KARACHI: Tax professionals on Thursday discussed the glitches in the website of the Federal Board of Revenue (FBR), which are creating problems for taxpayers in view of the fast approaching deadline of the income tax return filing for this year ...
 
 
our correspondent
KARACHI: The Sindh government has asked the federation to transfer sales tax collection on all heads to the provinces and proposed that it should continue collecting income tax and duties on customs.
"The Sindh government has the capacity to ...
 
 
our correspondent
KARACHI: The State Bank of Pakistan (SBP) on Thursday announced concessional refinance scheme of Rs10 billion for the revival of economic activities and to facilitate the flow of fresh credit in the flood-affected areas as reported by the National ...
 
 
Tariq Ahmed Saeedi
KARACHI: Pakistan’s growing online shoppers will now be able to save hefty surcharge on their purchases as the central bank has unveiled the maiden rules for local ecommerce gateways.
Local electronic payment gateways, which authorise internet ...
 
 
Mansoor Ahmad
LAHORE: India has the highest non-ad valorem final bound duties of 5.3 percent in the region that enables it to counter import of low cost products from its neighbouring countries. While non-ad valorem duties in Pakistan, Bangladesh, and China are ...
 
 
News Desk
KARACHI: In order to streamline its upcountry supply chain, Byco has announced a comprehensive expansion programme where it will set up refined petroleum products storage facilities at strategic locations, in the process generating jobs and ...
 
 
News Desk
KARACHI: After a successful launch in Karachi last year, Adamjee Life Assurance expanded its footprint with the launch of its direct sales branches in Lahore and Hyderabad.
In a statement issued on Thursday, GM-Sales and Marketing Jehanzeb Zafar ...
 
 
our correspondent
LAHORE: Khalid Javed Cheema and Munawar Agha have been elected Zonal Chairmen for Lahore and Karachi, respectively, of the Pakistan Overseas Employment Promoters Association (POEPA) in the annual election held recently, a statement ...
 
 
News Desk
KARACHI: Mobilink 3G customers have reached one million mark, rendering it as the fasted growing 3G service in Pakistan, a statement said on Thursday.
Mobilink hit the one million mark within 90 days of commercial launch, which is the fastest ...
 
 
our correspondent
LAHORE: Punjab Revenue Authority (PRA) Chairperson Iftikhar Qutab hopes that non-telecom tax collection would reach the mark of Rs35-40 billion during the ongoing fiscal year 2014-15, which was Rs6 billion in 2012 and Rs16 billion in 2013.
He ...
 
 
our correspondent
KARACHI: The State Bank of Pakistan (SBP) on Thursday injected Rs6.175 billion in the Islamic banking system through outright purchase of Government Ijara Sukuk (GIS).
However, the market gave a lacklustre response to the one-year transaction, ...
 
 
News Desk
KARACHI: The Economic Coordination Committee (ECC) of the Cabinet has given approval to the Trading Corporation of Pakistan (TCP) for the procurement of cotton on October 2, a statement issued by the corporation said on Thursday.
Being a ...
 
 
our correspondent
ISLAMABAD: Veteran economists on Thursday emphasised on human capital development and industrial progress to revive economic growth.
They were speaking at the concluding ceremony of a two-day seminar organised by Islamabad Policy Research ...
 
 
News Desk
KARACHI: K-Electric (KE) on Thursday took stringent action against 15 defaulting post offices by disconnecting their power supply. The decision came into effect after several post offices of the city failed to clear the power utility dues for a ...
 
 

NEW YORK: If your kids are chattering non-stop about things like emeralds, pickaxes and creepers, you may have a unique opportunity to turn a video game addiction into a life lesson about money.
Minecraft, a video game phenomenon with over 100 ...
 
 

Lahore: Governor Punjab Muhammad Sarwar, inaugurated a water filtration plant at Saint John’s Boys High School, Youhanabad, which has been set up by Coca-Cola Beverages Pakistan Limited (CCBPL) as part of its social responsibility program. The ...
 
 
our correspondent

The Karachi stock exchange staged some recovery on Thursday, as the participants took fresh positions amid diffused political tension and the start of corporate earnings’ announcement season.
“The market rebounds as the political tension has ...
 
 

While the manufacturing sector is likely to stabilise in October, the economy continues to show signs of insufficient effective demand
—Chief economist for China at HSBC ...
 
 

BEIJING: Fast-growing Chinese smartphone maker Xiaomi Inc said on Thursday it is migrating some data on non-Chinese customers away from its servers in Beijing due to performance and privacy considerations.
Data belonging to the privately owned ...
 
 
our correspondent
The rupee sheds five paisas against the dollar on Thursday, as demand from importers was relatively higher, dealers said.
The rupee closed at Rs102.98 per dollar in the interbank market against the last closing of Rs102.93 per dollar and was ...
 
 
LSE

The Lahore Stock Exchange continued its bullish trend for the second consecutive day on Thursday, as the LSE-25 index increased by three points to close at 5,292 points on lower trading volumes, dealers said.
Of the 104 companies traded, the ...
 
 
ISE

Bears reappeared at the Islamabad Stock Exchange on Thursday, as the ISE-10 index lost 16.55 points to close at 4,117.35 points, traders said.
Total turnover amounted to 99,000 shares as compared to the previous volume of 2,000 shares.
Of 158 ...
 
 

Pak Elektron (R) remained the hot stock at the Karachi Stock Exchange (KSE) on Thursday.
It was top volume leader with 18.74 million shares, as it closed at Rs7.77 with a gain of 63 paisas. An analyst said the right shares invited euphoric ...
 
 

It was the third volume leader with 6.64 million shares, as it closed at Rs56.12 with an increase of 66 paisas. An analyst said the company announced impressive earnings per share of Rs4.19 for the nine months ended September ...
 
 

LONDON: Chile’s mining minister said she is working to streamline the increasingly cumbersome mine permit process in a bid to support an industry that is crucial for the country’s economic growth.
Resource intensive Chile is facing a slowdown in ...
 
 

Gold steadied above $1,240 an ounce on Thursday as Asian stock markets weakened, but caution prevailed as the dollar hovered near one-week highs and outflows from bullion funds continued.
Asian shares sagged after a retreat on Wall Street and ...
 
 

Oil prices fell sharply on Wednesday, with US crude approaching $80 a barrel after data showed a second big jump in weekly US crude stockpiles.
Oil had a brief period of tentative consolidation in choppy morning trade. Then prices fell steadily ...
 
 
our correspondent
Karachi
Trade turnover of cotton declined by over 37 percent to 21,000 bales (155 kilograms each) from the seven-month high of 33,600 bales a day ago, as some of the traders stopped making fresh buying in wait for a possible decline in prices in ...
 
 


South Korean steelmaker POSCO posted its highest operating profit in five quarters on Thursday, as lower raw materials costs helped support margins during a period of weak steel prices.
The world’s sixth-biggest steelmaker by output also ...