Fri October 21, 2016
Muharram 19, 1437 A.H.
CPEC supports machinery imports; textile exports fall
Tariq Ahmed Saeedi
KARACHI: Pakistan’s machinery imports jumped 60.4 percent to $2.735 billion for the first quarter of the current fiscal year on China-funded projects, but the key textile exports continued to fall...
False alarm on petroleum shortages panic consumers
LAHORE: Buzz of possible gasoline shortages in the country in the last week of the current month due to an expected increase in petroleum prices, coupled with planned import of...
Urea makers bet on coal price hike to push exports
KARACHI: Local urea manufacturers, facing glut and high manufacturing costs, find an opportunity to ramp up overseas sales in the recent surge in the global prices of coal, which is...
Banks advised to extend revenue-based loans
KARACHI: Banks need to extend loans to businesses against their annual turnover in addition to the existing collateral-based lending, Kazi Abdul Muqtadir, the central bank’s ex-deputy governor said on Thursday. “This...
Current account deficit nearly doubles in July-Sept
KARACHI: The current account deficit surged to $1.368 billion during the first quarter of the current fiscal year of 2016/17, almost doubled from $579 million in the same period of...
HBL records Rs25.75bln profit in nine-months
KARACHI: Habib Bank Limited (HBL), the country’s largest private bank, recorded a profit of Rs25.75 billion in the first nine-month of this year, translating into earnings per share (EPS) of...
Forex reserves hit record high of $24.461bln
KARACHI: Pakistan’s foreign exchange reserves surged to an all-time high of $24.461 billion during the week ended October 14 after it received $1 billion proceeds against Pakistan Sukuk Bonds, the...
Profits of Attock Cement rise 43 percent
KARACHI: Attock Cement Pakistan Limited (ACPL) has registered an increase of 43.5 percent in the first quarter net profits amid an increase in net sales. In the profit and loss account...
Stocks close record high as quarterly reports roll in
Stocks gained over one percent to climb to a record high on Thursday as solid corporate earnings helped drive share prices higher, dealers said. Analyst Ahsan Mehanti at Arif Habib Limited...
Nintendo to release teaser video of next-generation console
TOKYO: Japan´s Nintendo Co Ltd said it will release a short video later on Thursday of the next-generation game console it plans to launch globally in March - an announcement...
Point of View
Michael McCarthy A clear win for either candidate is important. Markets are likely to buy Clinton and sell Trump ...
The rupee declined against the dollar on Thursday owing to increased demand for the foreign currency by importers, dealers said. The rupee lost five paisas to close at 104.75 to...
Hot Now TOKYO/SINGAPORE: The euro stood near a three-month low ahead of a European Central Bank meeting later on Thursday, while the Mexican peso rose to a six-week high after the...
Bengaluru Gold prices edged up on Thursday on technical buying after touching their highest in over two weeks the session before, with focus shifting to the outcome of a European Central...
Singapore Oil prices fell on Thursday on profit-taking after markets rallied the previous day due to a draw in the United States stocks and an expectation of an OPEC-led reduction in...
Karachi Cotton demand remained higher on Thursday, as 42,800 bales were traded in Sindh and Punjab regions. The spot rates at the Karachi Cotton Exchange closed flat at Rs6,050/maund, while the commodity...
Melbourne London copper traded little changed on Thursday in trade marked by low volumes as the final U.S. presidential debate got underway, while China´s steps to cool its real estate market,...
Second unit of GE gas turbine arrives in Pakistan
BHIKKI: The second unit of the world’s most efficient heavy duty GE 9HA.01 gas turbines has arrived from Belfort, France, in Pakistan to equip the 1,180MW Bhikki Combined Cycle Power...
‘China wants to enhance ties with Iran through CPEC’
ISLAMABAD: Chinese Ambassador to Pakistan Sun Weidong has said that China is looking forward to enhance its cooperation with Iran through China-Pakistan Economic Corridor (CPEC) projects. In an interview with...
USTR pledges continued support for Pakistan’s economic reform
ISLAMABAD: United States Trade Representative(USTR) Michael B Froman on Thursday commended Pakistan on its progress in implementing an economic reform programme that has stabilised the local economy. Co-hosting the 8th annual...
FPCCI to host trade conference
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has announced its first-ever “National Product ion and Entertainment Trade Conference-FocusPK”, a statement said on Thursday. The conference will showcase...
Indonesia’s central bank tries again to spur growth by cutting key rate
JAKARTA: Indonesia´s central bank on Thursday surprisingly cut its benchmark interest rate for a sixth time this year, indicating concern that its efforts to jack up sluggish lending and economic...
Turkey unexpectedly keeps rate steady for first time since March
ANKARA: Turkey´s central bank on Thursday kept its interest rate steady for the first time since March, wiping out the day´s lira losses and defying analysts´ expectations of cut. The central...
SECP holds interactive session By our correspondent ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday organised an interactive workshop at its headquarters to get feedback from the industry over...
Nisar orders inquiry into incident of slapping female reporter
Air raid near Iraq´s Kirkuk kills 15 women
Twitter, Spotify, other top websites shut in DDOS attack
After Mosul, anti-IS forces should target Raqa, says US
Imran asked Jihadi outfits to send armed activist to PTI...
India resorts to unprovoked firing near Chak Amroo
No talks before Islamabad lockdown, says Imran
Panama Papers petitions: SC to resume hearing on November 1
PM says he will follow SC orders on Panama Leaks...
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Aijaz Zaka Syed
Thank you, Cyril
The coming drought
Raashid Wali Janjua
Why we are, where we are
Siege of the citadel
Iftekhar A Khan
Donald Trump is America
Chai wala does not want to work in films
Supreme Court says, Schizophrenia not a mental illness
Spaceship carrying three-man crew docks with ISS
Younis wants India, Pakistan to resume Tests
´Man-eating´ tiger shot dead in India