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Tuesday July 11 — Monday July 17, 2017

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Finance Committee terms CCP’s report into exorbitant airfares by airlines as one-sided

Saleem-Mandviwalla

ISLAMABAD: Senate Standing Committee on Finance and Revenue, Tuesday, declared report of Competition Commission of Pakistan (CCP) on exorbitant increase in airfares by private airlines during strike of Pakistan International Airline (PIA) employees against privatization. On 9th of the current month, Committee while rejecting the stances of representatives of private airlines and directed Competition Commission of Pakistan to submit report ... Read More »

Iran can boost its electricity export to 3,000MW to Pakistan

POWER TERRIF

ISLAMABAD – Iran can become a major energy exporter for Pakistan which can get up to 3,000MW of electricity from its western neighbour, official documents claim. According to the Foreign Office (FO), Pakistan currently imports 74MW of electricity from Iran for its coastal Makran division. This import will be increased to 100MW this month. The two countries are considering another ... Read More »

Customs authorities should focus on importers problems at Port Qasim and resolve issues on priority basis: GS ICCI

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4,000-5,000 years old Stonehenge could have been used by worshippers to perform religious ceremonies

stone-300x200

LONDON: Almost a million people a year flock to Stonehenge to marvel at the mysterious prehistoric monument, reported Huffington Post. But what if those massive bluestones were just the foundations of an enormous platform where worshippers came to perform religious ceremonies? That’s the intriguing new theory put forth by Julian Spalding, a British art critic and former director of some ... Read More »

Receding glaciers in Pakistan’s north pose severe threat to snow leopards: Mushahid

mushahidullah-300x225

ISLAMABAD: Federal Minister for Climate change Mushahid Ullah Khan has said that receding glaciers in Pakistan’s north pose a severe threat to the snow leopards. Citing other another major reason for their declining population is that they are actively hunted for their body parts, which some cultures believe have great medicinal value. As demand has grown so has the sophistication ... Read More »

Envoy opens Irish Maritime Development office at Hamburg

GERMANY EXPORTS

BERLIN: Irish Ambassador to Germany opens the Irish Maritime Development office at Hamburg. Ambassador stressed the importance of bilateral relationship between Ireland and Germany. Mentioning about the German companies in Ireland employing over 10,000 people such as Lufhtanse, Allianz and SAP. Ms Wardell, who joined the Irish Maritime Development office last year, stated that there are much more benefits of ... Read More »

Denmark’s port turnover increases 9.2% to reach 237 million kroner

Ports of Aarhus

DENMARK: The port of Aarhus get a growth of 9.2 percent, 237 million Kroner as compared to 2013.Net income is also doubled at 46 million Kroner in 2014 as compared 2013. Jacob flyybjerg Christensen stated, that we have increased activities in some areas of business and can look at the figures that the increase comes in terms of new customers, ... Read More »

FBR trying to bring all Customs operations on WeBOC by June 2015: Chief Collector Burki

Burki-LCCI

LAHORE: Pakistan Customs will facilitate the business community in clearance of goods to increase their competitiveness through Web Based One Customs (WeBOC) clearance system. These thoughts were expressed by Mr. Rozi Khan Burki, Chief Collector of Customs while inaugurating the training workshop at Lahore Chamber of Commerce and Industry in Lahore. Mr. Zulfiqar Younas, Director of Training and Research (Customs) ... Read More »

China customs seizes taxus products

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BEIJING: Customs House (affiliated to Changchun Customs District) intercepted a taxus smuggling case a few days ago. 3 taxus stocks, 4 taxus figures, 3 taxus ships and some taxus cups were seized in the case. Taxus is an endangered species listed under Class Ⅰ state protection. Read More »

Russia central bank raises interest rate by 650 basis points to 17%

BRASILIA: The ruble is falling again against the dollar after opening 8% stronger on Tuesday after Russia’s central bank raised rates by 650 basis points to 17% at 1am. In a worrying sign for the Bank of Russia, the currency remains volatile quickly reversing the morning’s gains and snapping back to over 64 roubles to the dollar at the time ... Read More »

Apple to unveil new version of iPhone 6 for women to replace iPhone 5c

iphone5c

BEIJING: Here’s a good news for women as iPhone has reportedly announced to launch a lower-cost 4-inch version of the iPhone 6 to replace the iPhone 5c. According to a Chinese website, the handset will be launched in 2015, which follows a move towards larger screen sizes, with the most recent models boasting 4.7 and 5.5inch screens. The Feng.com report ... Read More »

Operation Cleaver: Iranian hackers spying Pakistan, US, UK, Canada since 2012

hackers

WASHINGTON: A report of security firm Cylance has disclosed that hackers from Tehran have managed to penetrate and steal information from governments and companies around the world including Pakistan since 2012. The report by the security firm Cylance released recently said the hackers have “extracted highly sensitive materials” from government agencies and major critical infrastructure companies in the United States, ... Read More »

Railways, power in focus: GE delegates meet President Mamnoon, railways minister

President Mamnoon

ISLAMABAD: A delegation of General Electric (GE) called on President Mamnoon Hussain followed by a detailed meeting with Railway Minister Khawaja Saad Rafiq and other senior officials of Pakistan Railways. The GE delegation was led by its Chief Financial Officer Frederick Beras. The US firm is taking keen interest in many projects in Pakistan, especially in power and railway sectors. ... Read More »

28% cut in int’l oil rates: Govt needs to slash POL prices by 20%

nawaz1

ISLAMABAD: After a sharp decline of almost 28% in world Brent crude oil, trading from $114 in mid-June to $78 per barrel nowadays, it is expected that Pakistani government would provide further relief to the countrymen in shape of hefty cut of Rs 10 per litre in petrol prices. Standing Committee on Finance in its recent meeting has asked the ... Read More »

28% cut in int’l oil rates: Govt needs to slash POL prices by 20%

POL1

ISLAMABAD: After a sharp decline of almost 28% in world Brent crude oil, trading from $114 in mid-June to $78 per barrel nowadays, it is expected that Pakistani government would provide further relief to the countrymen in shape of hefty cut of Rs 10 per litre in petrol prices. Standing Committee on Finance in its recent meeting has asked the ... Read More »

KSE-100 recovers 231pts, up 0.74% to close in green zone

Kuwaiti traders follow the market's move

KARACHI: The Karachi Stock Exchange recovers 230.73 points or +0.74 percent to reach 31454.47 points and volume of 145,707,940 shares on Wednesday. Positive news of Sukuk bonds offering kept the 100-index buoyant and provided the investors with much-needed confidence. The KSE share-100 index opened at overnight closing of 31,223 and appeared confidence, going up steadily. The market set the pace ... Read More »

KSE-100 loses 93pts, down 0.30% to close at 31223.7pts ahead of PTI big show

KARACHI: The Karachi Stock Exchange lost another 93.22 points or -0.30 percent to reach 31223.74 points and volume of 103,084,430 shares on Tuesday as PTI going to organize ‘big’ public meeting in Islamabad on Nov 30 this week. The market opened on negative note and remained bullish, forcing investor to exercise caution. Stocks remained bearish ahead of PTI’s call for ... Read More »

KSE-100 recovers 279.48pts, up 0.89% towards historic high of 32000pts

KARACHI: The Karachi Stock Exchange shrugged off the gloom of previous two days and set its pace for the upward march and gained 279.48 points or +0.89 percent to reach 31518.52 points and volume of 89,545,590 shares on last day of trading, Friday. The Karachi Stock Exchange opened on a positive note and set off on the recourse to remedy ... Read More »

KSE-100 recovers 279.48pts, up 0.89% towards historic high of 32000pts

KSE 100

KARACHI: The Karachi Stock Exchange shrugged off the gloom of previous two days and set its pace for the upward march and gained 279.48 points or +0.89 percent to reach 31518.52 points and volume of 89,545,590 shares on last day of trading, Friday. The Karachi Stock Exchange opened on a positive note and set off on the recourse to remedy ... Read More »