Tuesday , 25 April 2017

Quetta commission report violates justice: interior ministry

ISLAMABAD: In a comprehensive reply placed before the Supreme Court on Friday, the Interior Ministry dubbed the damning findings of the Quetta inquiry commission on terrorism ‘unnecessary, uncalled for and violative of natural justice’. “These adverse remarks and observations are without any evidentiary basis,” regretted the reply submitted by senior …

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PCB to push for elimination of Big Three system at ICC meeting

KARACHI: The Pakistan Cricket Board (PCB) chief Shaharyar Khan said that he would push for the elimination of the Big Three governance system and revenue distribution formula, besides opposing the proposal for four-day Test matches at the ICC Board meeting in Dubai. “We want the Big Three governance system and …

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Pakistan cricket will rise again, says Inzamam

LAHORE: Chief selector Inzamam-ul-Haq believes Pakistan cricket despite its present woes will rise again at the world stage. “Yes, currently we are passing through a difficult phase but Pakistan cricket will stage a comeback,” Inzamam said while attending a function as guest of the Sports Journalists Association of Lahore (SJAL) …

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Gold pares losses

LONDON: Gold steadied on Friday, erasing earlier losses as the dollar came under pressure from a US payrolls report that flagged up weak wage growth last month, weakening the case for near-term interest rate hikes. Spot gold was at $1,215.80 an ounce at 1425 GMT, little changed from late on …

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Index finishes weekend session with 110-point loss

KARACHI: The share prices see-sawed on the last trading day of the week as the KSE-100 index closed 110.14 points (0.22 per cent) down at 49,555.83 on Friday after having moved between the intra-day high and low of 114 and 235 points. The overall volume decreased by 24pc to 338 …

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Trump takes first step to scale back financial regulations

WASHINGTON: President Donald Trump is taking his first steps aimed at scaling back financial services regulations, and the Republican-run Congress cast a vote early Friday signaling that it’s eager to help. The president will sign an executive order Friday that will direct the Treasury secretary to review the 2010 Dodd-Frank …

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Wathra asks banks to rationalise lending rates for agri sector

MULTAN: State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra on Friday urged banks to rationalise lending rates for the agriculture sector. While chairing the annual meeting of the Agricultural Credit Advisory Committee (ACAC), the SBP governor said banks met their agriculture credit target in 2015-16 and have achieved 43 …

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Engro Foods’ profit drops by 25pc to Rs2.4bn

KARACHI: Engro Foods posted a net profit of Rs2.4 billion for 2016, down 25 per cent from Rs3.2bn a year ago. In the fourth quarter (Oct-Dec) alone, the company recorded a loss of Rs208 million against earnings of Rs635m in the comparable three-month period a year ago, according to a …

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Tariq Bajwa appointed secretary finance

ISLAMABAD: The government on Friday appointed Tariq Bajwa as Secretary Finance and tasked him with the preparation of the budget. “Tariq Bajwa, a BS-22 officer of Secretariat Group, presently posted as Secretary Economic Affairs Division is transferred and posted as Secretary, Fina­nce Division with immediate effect and until further orders,” …

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Cotton crop recovers to 10.6m bales

KARACHI: Cotton production has increased 10.6 per cent year-on-year to 10.634 million bales this season, Pakistan Cotton Ginners Association (PCGA) said on Friday. During the outgoing fortnight (Jan 15 to Feb 1), however, cotton output fell 28pc to 98,785 bales. Cotton analyst Naseem Usman believed the growth of 10.6pc was …

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